# EDGAR Filing Document

**Accession Number:** 0000875186
**File Stem:** 0001003715-26-000264
**Filing Date:** 2026-1
**Character Count:** 1308181
**Document Hash:** f92b4abce7b6a81300211d966a51ae92
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-26-000264.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001003715-26-000264

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MORGAN STANLEY PATHWAY FUNDS
- **CENTRAL INDEX KEY:** 0000875186

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06318
- **FILM NUMBER:** 26569262

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 WESTCHESTER AVENUE
- **CITY:** PURCHASE
- **STATE:** NY
- **ZIP:** 10577
- **BUSINESS PHONE:** 8883749999

**MAIL ADDRESS:**
- **STREET 1:** 2000 WESTCHESTER AVENUE
- **CITY:** PURCHASE
- **STATE:** NY
- **ZIP:** 10577

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONSULTING GROUP CAPITAL MARKETS FUNDS
- **DATE OF NAME CHANGE:** 19950125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRUST FOR TRAK INVESTMENTS
- **DATE OF NAME CHANGE:** 19920929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSTITUTIONAL ADVISORS PORTFOLIOS
- **DATE OF NAME CHANGE:** 19600201

## Series and Classes Contracts Data

### Ultra-Short Term Fixed Income Fund (Series ID: S000052237)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000164313 | Ultra-Short Term Fixed Income Fund | TSDUX           |

## Nport-Ex

**Schedules of Investments** 

November 30, 2025

(unaudited)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **COMMON STOCKS - 98.5%** | **COMMON STOCKS - 98.5%** | **COMMON STOCKS - 98.5%** |
|  **COMMUNICATION SERVICES - 10.3%** | **COMMUNICATION SERVICES - 10.3%** | **COMMUNICATION SERVICES - 10.3%** |
|  **Diversified Telecommunication Services - 0.5%** | **Diversified Telecommunication Services - 0.5%** | **Diversified Telecommunication Services - 0.5%** |
| 6998 | AST SpaceMobile Inc., Class A Shares\* | $393288 |
| 255087 | AT&T Inc. | 6637364 |
| 8663 | Frontier Communications Parent Inc.\* | 328501 |
| 2850 | GCI Liberty Inc.\*(a)# |  |
| 104 | GCI Liberty Inc., Class A Shares\* | 3467 |
| 771 | GCI Liberty Inc., Class C Shares\* | 25690 |
| 3860 | Iridium Communications Inc. | 63304 |
| 5122 | Liberty Global Ltd., Class A Shares\* | 58442 |
| 5313 | Liberty Global Ltd., Class C Shares\* | 60993 |
| 267335 | Verizon Communications Inc. | 10990142 |
|  | Total Diversified Telecommunication Services | 18561191 |
|  **Entertainment - 1.9%** | **Entertainment - 1.9%** | **Entertainment - 1.9%** |
| 9479 | Electronic Arts Inc. | 1915042 |
| 795 | Liberty Media Corp.-Liberty Formula One, Class A Shares\* | 69864 |
| 7421 | Liberty Media Corp.-Liberty Formula One, Class C Shares\* | 712267 |
| 640 | Liberty Media Corp.-Liberty Live, Class A Shares\* | 49229 |
| 1689 | Liberty Media Corp.-Liberty Live, Class C Shares\* | 133786 |
| 5722 | Live Nation Entertainment Inc.\* | 752157 |
| 665 | Madison Square Garden Sports Corp., Class A Shares\* | 151640 |
| 338122 | Netflix Inc.\* | 36375165 |
| 22216 | ROBLOX Corp., Class A Shares\* | 2111186 |
| 4620 | Roku Inc., Class A Shares\* | 447170 |
| 5594 | Spotify Technology SA\* | 3350079 |
| 6624 | Take-Two Interactive Software Inc.\* | 1629968 |
| 2458 | TKO Group Holdings Inc., Class A Shares | 476582 |
| 162311 | Walt Disney Co. (The) | 16956630 |
| 84852 | Warner Bros Discovery Inc.\* | 2036448 |
|  | Total Entertainment | 67167213 |
|  **Interactive Media & Services - 7.2%** | **Interactive Media & Services - 7.2%** | **Interactive Media & Services - 7.2%** |
| 325592 | Alphabet Inc., Class A Shares | 104248047 |
| 194369 | Alphabet Inc., Class C Shares | 62221404 |
| 2896 | IAC Inc.\* | 101563 |
| 8847 | Match Group Inc. | 294694 |
| 129303 | Meta Platforms Inc., Class A Shares | 83781879 |
| 20984 | Pinterest Inc., Class A Shares\* | 548102 |
| 4169 | Reddit Inc., Class A Shares\* | 902463 |
| 5832 | Trump Media & Technology Group Corp.\* | 67301 |
| 11141 | ZoomInfo Technologies Inc., Class A Shares\* | 110519 |
|  | Total Interactive Media & Services | 252275972 |
|  **Media - 0.6%** | **Media - 0.6%** | **Media - 0.6%** |
| 3243 | Charter Communications Inc., Class A Shares\* | 648989 |
| 269769 | Comcast Corp., Class A Shares | 7200135 |
| 5680 | DoubleVerify Holdings Inc.\* | 59867 |
| 118220 | Fox Corp., Class A Shares | 7743410 |
| 5424 | Fox Corp., Class B Shares | 316002 |
| 524 | Liberty Broadband Corp., Class A Shares\* | 24267 |
| 3856 | Liberty Broadband Corp., Class C Shares\* | 178494 |
| 5714 | New York Times Co. (The), Class A Shares | 368553 |
| 14000 | News Corp., Class A Shares | 359520 |
| 4125 | News Corp., Class B Shares | 121399 |
| 1000 | Nexstar Media Group Inc., Class A Shares | 192140 |
| 1731 | NIQ Global Intelligence PLC\* | 27211 |
| 11541 | Omnicom Group Inc. | 826566 |
| 7377 | Sirius XM Holdings Inc. | 156835 |
| 16066 | Trade Desk Inc. (The), Class A Shares\* | 635571 |
|  | Total Media | 18858959 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **COMMUNICATION SERVICES - 10.3% - (continued)** | **COMMUNICATION SERVICES - 10.3% - (continued)** | **COMMUNICATION SERVICES - 10.3% - (continued)** |
|  **Wireless Telecommunication Services - 0.1%** | **Wireless Telecommunication Services - 0.1%** | **Wireless Telecommunication Services - 0.1%** |
| 3674 | Millicom International Cellular SA | $194979 |
| 16514 | T-Mobile US Inc. | 3451591 |
|  | Total Wireless Telecommunication Services | 3646570 |
|  | **TOTAL COMMUNICATION SERVICES** | **360509905** |
|  **CONSUMER DISCRETIONARY - 10.7%** | **CONSUMER DISCRETIONARY - 10.7%** | **CONSUMER DISCRETIONARY - 10.7%** |
|  **Automobile Components - 0.1%** | **Automobile Components - 0.1%** | **Automobile Components - 0.1%** |
| 8880 | Aptiv PLC\* | 688644 |
| 7673 | BorgWarner Inc. | 330399 |
| 8290 | Gentex Corp. | 189261 |
| 1991 | Lear Corp. | 213754 |
| 15198 | QuantumScape Corp., Class A Shares\* | 185719 |
|  | Total Automobile Components | 1607777 |
|  **Automobiles - 1.8%** | **Automobiles - 1.8%** | **Automobiles - 1.8%** |
| 140645 | Ford Motor Co. | 1867766 |
| 125386 | General Motors Co. | 9218379 |
| 3886 | Harley-Davidson Inc. | 95168 |
| 4517 | Lucid Group Inc., Class A Shares\*(b) | 61567 |
| 29968 | Rivian Automotive Inc., Class A Shares\* | 505260 |
| 115821 | Tesla Inc.\* | 49822720 |
| 1917 | Thor Industries Inc. | 202473 |
|  | Total Automobiles | 61773333 |
|  **Broadline Retail - 4.6%** | **Broadline Retail - 4.6%** | **Broadline Retail - 4.6%** |
| 681106 | Amazon.com Inc.\* | 158847541 |
| 44579 | Coupang Inc., Class A Shares\* | 1255345 |
| 100 | Dillard's Inc., Class A Shares | 67006 |
| 16749 | eBay Inc. | 1386650 |
| 4119 | Etsy Inc.\* | 223332 |
| 9402 | Macy's Inc. | 210229 |
| 2159 | Ollie's Bargain Outlet Holdings Inc.\* | 265794 |
|  | Total Broadline Retail | 162255897 |
|  **Distributors - 0.0%@** | **Distributors - 0.0%@** | **Distributors - 0.0%@** |
| 4932 | Genuine Parts Co. | 643133 |
| 9324 | LKQ Corp. | 276829 |
| 1355 | Pool Corp. | 330078 |
|  | Total Distributors | 1250040 |
|  **Diversified Consumer Services - 0.1%** | **Diversified Consumer Services - 0.1%** | **Diversified Consumer Services - 0.1%** |
| 18562 | ADT Inc. | 153136 |
| 2034 | Bright Horizons Family Solutions Inc.\* | 209014 |
| 1346 | Duolingo Inc., Class A Shares\* | 257638 |
| 1014 | Grand Canyon Education Inc.\* | 159948 |
| 4988 | H&R Block Inc. | 210095 |
| 4964 | Service Corp. International | 394291 |
|  | Total Diversified Consumer Services | 1384122 |
|  **Hotels, Restaurants & Leisure - 1.9%** | **Hotels, Restaurants & Leisure - 1.9%** | **Hotels, Restaurants & Leisure - 1.9%** |
| 73700 | Airbnb Inc., Class A Shares\* | 8622163 |
| 9547 | Aramark | 354862 |
| 1183 | Booking Holdings Inc. | 5814078 |
| 2182 | Boyd Gaming Corp. | 181761 |
| 7304 | Caesars Entertainment Inc.\* | 169964 |
| 39303 | Carnival Corp.\* | 1013231 |
| 3628 | Cava Group Inc.\* | 177373 |
| 140524 | Chipotle Mexican Grill Inc., Class A Shares\* | 4850888 |
| 1046 | Choice Hotels International Inc. | 95458 |
| 2408 | Churchill Downs Inc. | 262689 |
| 35360 | Darden Restaurants Inc. | 6349949 |
| 1233 | Domino's Pizza Inc. | 517404 |
| 13047 | DoorDash Inc., Class A Shares\* | 2588133 |
| 17476 | DraftKings Inc., Class A Shares\* | 579504 |
| 3845 | Dutch Bros Inc., Class A Shares\* | 225355 |
| 4345 | Expedia Group Inc. | 1110973 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER DISCRETIONARY - 10.7% - (continued)** | **CONSUMER DISCRETIONARY - 10.7% - (continued)** | **CONSUMER DISCRETIONARY - 10.7% - (continued)** |
|  **Hotels, Restaurants & Leisure - 1.9% - (continued)** | **Hotels, Restaurants & Leisure - 1.9% - (continued)** | **Hotels, Restaurants & Leisure - 1.9% - (continued)** |
| 6371 | Flutter Entertainment PLC\* | $1330329 |
| 31394 | Hilton Worldwide Holdings Inc. | 8948232 |
| 1464 | Hyatt Hotels Corp., Class A Shares | 240667 |
| 12510 | Las Vegas Sands Corp. | 852682 |
| 8277 | Marriott International Inc., Class A Shares | 2522747 |
| 25995 | McDonald's Corp. | 8105761 |
| 8632 | MGM Resorts International\* | 304623 |
| 16118 | Norwegian Cruise Line Holdings Ltd.\* | 297538 |
| 5004 | Penn Entertainment Inc.\* | 74259 |
| 3015 | Planet Fitness Inc., Class A Shares\* | 337590 |
| 11570 | Restaurant Brands International Inc. | 837552 |
| 9213 | Royal Caribbean Cruises Ltd. | 2452961 |
| 55805 | Starbucks Corp. | 4861174 |
| 2407 | Texas Roadhouse Inc., Class A Shares | 421827 |
| 2199 | Travel + Leisure Co. | 150807 |
| 1378 | Vail Resorts Inc. | 193209 |
| 7269 | Viking Holdings Ltd.\* | 485424 |
| 6650 | Wendy's Co. (The) | 56193 |
| 1061 | Wingstop Inc. | 280879 |
| 2642 | Wyndham Hotels & Resorts Inc. | 193394 |
| 2987 | Wynn Resorts Ltd. | 384367 |
| 10086 | Yum! Brands Inc. | 1545276 |
|  | Total Hotels, Restaurants & Leisure | 67791276 |
|  **Household Durables - 0.2%** | **Household Durables - 0.2%** | **Household Durables - 0.2%** |
| 9812 | DR Horton Inc. | 1560206 |
| 5926 | Garmin Ltd. | 1157466 |
| 8316 | Lennar Corp., Class A Shares | 1091891 |
| 406 | Lennar Corp., Class B Shares | 50178 |
| 1806 | Mohawk Industries Inc.\* | 209315 |
| 13920 | Newell Brands Inc. | 50808 |
| 103 | NVR Inc.\* | 773251 |
| 7387 | PulteGroup Inc. | 939553 |
| 3011 | SharkNinja Inc.\* | 293783 |
| 7351 | Somnigroup International Inc. | 672763 |
| 3604 | Toll Brothers Inc. | 503947 |
| 1048 | TopBuild Corp.\* | 474220 |
| 1876 | Whirlpool Corp. | 145109 |
|  | Total Household Durables | 7922490 |
|  **Leisure Products - 0.0%@** | **Leisure Products - 0.0%@** | **Leisure Products - 0.0%@** |
| 2400 | Brunswick Corp. | 158664 |
| 5125 | Hasbro Inc. | 423325 |
| 11757 | Mattel Inc.\* | 248308 |
| 3374 | YETI Holdings Inc.\* | 139953 |
|  | Total Leisure Products | 970250 |
|  **Specialty Retail - 1.8%** | **Specialty Retail - 1.8%** | **Specialty Retail - 1.8%** |
| 922 | AutoNation Inc.\* | 194809 |
| 608 | AutoZone Inc.\* | 2404233 |
| 7710 | Bath & Body Works Inc. | 134231 |
| 6912 | Best Buy Co., Inc. | 547983 |
| 2255 | Burlington Stores Inc.\* | 568779 |
| 5429 | CarMax Inc.\* | 209885 |
| 4806 | Carvana Co., Class A Shares\* | 1799847 |
| 7479 | Chewy Inc., Class A Shares\* | 260045 |
| 2301 | Dick's Sporting Goods Inc. | 475318 |
| 1964 | Five Below Inc.\* | 323844 |
| 3670 | Floor & Decor Holdings Inc., Class A Shares\* | 233485 |
| 14899 | GameStop Corp., Class A Shares\* | 335674 |
| 8365 | Gap Inc. (The) | 226441 |
| 36207 | Home Depot Inc. (The) | 12923002 |
| 934 | Lithia Motors Inc., Class A Shares | 297797 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER DISCRETIONARY - 10.7% - (continued)** | **CONSUMER DISCRETIONARY - 10.7% - (continued)** | **CONSUMER DISCRETIONARY - 10.7% - (continued)** |
|  **Specialty Retail - 1.8% - (continued)** | **Specialty Retail - 1.8% - (continued)** | **Specialty Retail - 1.8% - (continued)** |
| 57904 | Lowe's Cos., Inc. | $14040562 |
| 681 | Murphy USA Inc. | 262233 |
| 74127 | O'Reilly Automotive Inc.\* | 7538716 |
| 712 | Penske Automotive Group Inc. | 115145 |
| 497 | RH\* | 78322 |
| 11667 | Ross Stores Inc. | 2057592 |
| 91438 | TJX Cos., Inc. (The) | 13891261 |
| 19428 | Tractor Supply Co. | 1064266 |
| 1658 | Ulta Beauty Inc.\* | 893380 |
| 4520 | Valvoline Inc.\* | 141521 |
| 3494 | Wayfair Inc., Class A Shares\* | 387135 |
| 4382 | Williams-Sonoma Inc. | 788804 |
|  | Total Specialty Retail | 62194310 |
|  **Textiles, Apparel & Luxury Goods - 0.2%** | **Textiles, Apparel & Luxury Goods - 0.2%** | **Textiles, Apparel & Luxury Goods - 0.2%** |
| 5425 | Amer Sports Inc.\* | 201430 |
| 1870 | Birkenstock Holding PLC\* | 81027 |
| 1025 | Columbia Sportswear Co. | 55053 |
| 2006 | Crocs Inc.\* | 170470 |
| 5379 | Deckers Outdoor Corp.\* | 473513 |
| 3764 | Lululemon Athletica Inc.\* | 693254 |
| 42074 | NIKE Inc., Class B Shares | 2719243 |
| 7877 | On Holding AG, Class A Shares\* | 346509 |
| 2042 | PVH Corp. | 173080 |
| 1439 | Ralph Lauren Corp., Class A Shares | 528588 |
| 7396 | Tapestry Inc. | 808235 |
| 5673 | Under Armour Inc., Class A Shares\* | 26209 |
| 7178 | Under Armour Inc., Class C Shares\* | 31799 |
| 12593 | V.F. Corp. | 220377 |
|  | Total Textiles, Apparel & Luxury Goods | 6528787 |
|  | **TOTAL CONSUMER DISCRETIONARY** | **373678282** |
|  **CONSUMER STAPLES - 3.8%** | **CONSUMER STAPLES - 3.8%** | **CONSUMER STAPLES - 3.8%** |
|  **Beverages - 0.9%** | **Beverages - 0.9%** | **Beverages - 0.9%** |
| 309 | Boston Beer Co., Inc. (The), Class A Shares\* | 60193 |
| 1581 | Brown-Forman Corp., Class A Shares | 45074 |
| 6307 | Brown-Forman Corp., Class B Shares | 182777 |
| 5879 | Celsius Holdings Inc.\* | 240686 |
| 141417 | Coca-Cola Co. (The) | 10340411 |
| 2120 | Coca-Cola Consolidated Inc. | 345454 |
| 5188 | Constellation Brands Inc., Class A Shares | 707539 |
| 47093 | Keurig Dr Pepper Inc. | 1313895 |
| 6164 | Molson Coors Beverage Co., Class B Shares | 286688 |
| 62365 | Monster Beverage Corp.\* | 4676751 |
| 103128 | PepsiCo Inc. | 15339259 |
| 9181 | Primo Brands Corp., Class A Shares | 144050 |
|  | Total Beverages | 33682777 |
|  **Consumer Staples Distribution & Retail - 1.3%** | **Consumer Staples Distribution & Retail - 1.3%** | **Consumer Staples Distribution & Retail - 1.3%** |
| 14857 | Albertsons Cos., Inc., Class A Shares | 272329 |
| 4680 | BJ's Wholesale Club Holdings Inc.\* | 417596 |
| 1350 | Casey's General Stores Inc. | 770121 |
| 19429 | Costco Wholesale Corp. | 17750140 |
| 7944 | Dollar General Corp. | 869789 |
| 7183 | Dollar Tree Inc.\* | 795948 |
| 22051 | Kroger Co. (The) | 1483591 |
| 6192 | Maplebear Inc.\* | 260126 |
| 5483 | Performance Food Group Co.\* | 532235 |
| 3501 | Sprouts Farmers Market Inc.\* | 293419 |
| 17648 | Sysco Corp. | 1344778 |
| 16554 | Target Corp. | 1500123 |
| 8350 | US Foods Holding Corp.\* | 656894 |
| 158211 | Walmart Inc. | 17483898 |
|  | Total Consumer Staples Distribution & Retail | 44430987 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER STAPLES - 3.8% - (continued)** | **CONSUMER STAPLES - 3.8% - (continued)** | **CONSUMER STAPLES - 3.8% - (continued)** |
|  **Food Products - 0.5%** | **Food Products - 0.5%** | **Food Products - 0.5%** |
| 17381 | Archer-Daniels-Midland Co. | $1055722 |
| 4714 | Bunge Global SA | 452874 |
| 6999 | Campbell's Co. (The) | 213329 |
| 17062 | Conagra Brands Inc. | 304557 |
| 5914 | Darling Ingredients Inc.\* | 216512 |
| 6582 | Flowers Foods Inc. | 70625 |
| 1731 | Freshpet Inc.\* | 98944 |
| 19911 | General Mills Inc. | 942786 |
| 5336 | Hershey Co. (The) | 1003595 |
| 10329 | Hormel Foods Corp. | 239736 |
| 2412 | Ingredion Inc. | 259386 |
| 3695 | J.M. Smucker Co. (The) | 384945 |
| 10103 | Kellanova | 845015 |
| 30533 | Kraft Heinz Co. (The) | 778897 |
| 5238 | Lamb Weston Holdings Inc. | 309356 |
| 9146 | McCormick & Co., Inc., Class VTG Shares | 617172 |
| 160912 | Mondelez International Inc., Class A Shares | 9263704 |
| 1496 | Pilgrim's Pride Corp. | 56908 |
| 1884 | Post Holdings Inc.\* | 195992 |
| 8 | Seaboard Corp. | 37437 |
| 875 | Smithfield Foods Inc. | 18909 |
| 9948 | Tyson Foods Inc., Class A Shares | 577481 |
|  | Total Food Products | 17943882 |
|  **Household Products - 0.7%** | **Household Products - 0.7%** | **Household Products - 0.7%** |
| 8979 | Church & Dwight Co., Inc. | 764652 |
| 4392 | Clorox Co. (The) | 474072 |
| 29161 | Colgate-Palmolive Co. | 2344253 |
| 12084 | Kimberly-Clark Corp. | 1318606 |
| 126372 | Procter & Gamble Co. (The) | 18723276 |
| 1594 | Reynolds Consumer Products Inc. | 39818 |
|  | Total Household Products | 23664677 |
|  **Personal Care Products - 0.1%** | **Personal Care Products - 0.1%** | **Personal Care Products - 0.1%** |
| 4497 | BellRing Brands Inc.\* | 138912 |
| 14270 | Coty Inc., Class A Shares\* | 47377 |
| 1988 | elf Beauty Inc.\* | 151426 |
| 8499 | Estee Lauder Cos., Inc. (The), Class A Shares | 799501 |
| 68511 | Kenvue Inc. | 1188666 |
|  | Total Personal Care Products | 2325882 |
|  **Tobacco - 0.3%** | **Tobacco - 0.3%** | **Tobacco - 0.3%** |
| 61342 | Altria Group Inc. | 3619791 |
| 56656 | Philip Morris International Inc. | 8922187 |
|  | Total Tobacco | 12541978 |
|  | **TOTAL CONSUMER STAPLES** | **134590183** |
|  **ENERGY - 2.8%** | **ENERGY - 2.8%** | **ENERGY - 2.8%** |
|  **Energy Equipment & Services - 0.3%** | **Energy Equipment & Services - 0.3%** | **Energy Equipment & Services - 0.3%** |
| 35820 | Baker Hughes Co., Class A Shares | 1798164 |
| 32072 | Halliburton Co. | 840928 |
| 14547 | NOV Inc. | 223442 |
| 214502 | SLB Ltd. | 7773552 |
| 14546 | TechnipFMC PLC | 658352 |
| 2560 | Weatherford International PLC | 191488 |
|  | Total Energy Equipment & Services | 11485926 |
|  **Oil, Gas & Consumable Fuels - 2.5%** | **Oil, Gas & Consumable Fuels - 2.5%** | **Oil, Gas & Consumable Fuels - 2.5%** |
| 12240 | Antero Midstream Corp. | 220442 |
| 10477 | Antero Resources Corp.\* | 381677 |
| 13386 | APA Corp. | 334248 |
| 8006 | Cheniere Energy Inc. | 1668931 |
| 69846 | Chevron Corp. | 10555826 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **ENERGY - 2.8% - (continued)** | **ENERGY - 2.8% - (continued)** | **ENERGY - 2.8% - (continued)** |
|  **Oil, Gas & Consumable Fuels - 2.5% - (continued)** | **Oil, Gas & Consumable Fuels - 2.5% - (continued)** | **Oil, Gas & Consumable Fuels - 2.5% - (continued)** |
| 2273 | Chord Energy Corp. | $213344 |
| 3597 | Civitas Resources Inc. | 105644 |
| 115957 | ConocoPhillips | 10284226 |
| 27431 | Coterra Energy Inc. | 736248 |
| 22027 | Devon Energy Corp. | 816321 |
| 6934 | Diamondback Energy Inc. | 1058059 |
| 3571 | DT Midstream Inc. | 433734 |
| 65478 | EOG Resources Inc. | 7061802 |
| 22315 | EQT Corp. | 1358091 |
| 44150 | Expand Energy Corp. | 5383210 |
| 254919 | Exxon Mobil Corp. | 29550211 |
| 5808 | HF Sinclair Corp. | 307301 |
| 70714 | Kinder Morgan Inc. | 1931907 |
| 11144 | Marathon Petroleum Corp. | 2158927 |
| 4386 | Matador Resources Co. | 185966 |
| 25646 | Occidental Petroleum Corp. | 1077132 |
| 22724 | ONEOK Inc. | 1654762 |
| 9551 | Ovintiv Inc. | 391209 |
| 24076 | Permian Resources Corp., Class A Shares | 348861 |
| 14771 | Phillips 66 | 2023036 |
| 8391 | Range Resources Corp. | 331361 |
| 7769 | Targa Resources Corp. | 1361983 |
| 699 | Texas Pacific Land Corp. | 604139 |
| 11319 | Valero Energy Corp. | 2000746 |
| 6136 | Viper Energy Inc., Class A Shares | 224148 |
| 44288 | Williams Cos., Inc. (The) | 2698468 |
|  | Total Oil, Gas & Consumable Fuels | 87461960 |
|  | **TOTAL ENERGY** | **98947886** |
|  **FINANCIALS - 15.2%** | **FINANCIALS - 15.2%** | **FINANCIALS - 15.2%** |
|  **Banks - 3.8%** | **Banks - 3.8%** | **Banks - 3.8%** |
| 473662 | Bank of America Corp. | 25411966 |
| 3644 | Bank OZK | 167697 |
| 792 | BOK Financial Corp. | 89195 |
| 66249 | Citigroup Inc. | 6863396 |
| 15748 | Citizens Financial Group Inc. | 851967 |
| 10581 | Columbia Banking System Inc. | 293305 |
| 4678 | Comerica Inc. | 376018 |
| 4469 | Commerce Bancshares Inc. | 240924 |
| 2106 | Cullen/Frost Bankers Inc. | 260554 |
| 5026 | East West Bancorp Inc. | 536274 |
| 24173 | Fifth Third Bancorp | 1050559 |
| 353 | First Citizens BancShares Inc., Class A Shares | 662895 |
| 4299 | First Hawaiian Inc. | 107131 |
| 18612 | First Horizon Corp. | 415792 |
| 12979 | FNB Corp. | 215971 |
| 56307 | Huntington Bancshares Inc. | 917804 |
| 178240 | JPMorgan Chase & Co. | 55803379 |
| 34385 | KeyCorp | 631996 |
| 5919 | M&T Bank Corp. | 1125912 |
| 121637 | NU Holdings Ltd., Class A Shares\* | 2115267 |
| 2692 | Pinnacle Financial Partners Inc. | 246803 |
| 14270 | PNC Financial Services Group Inc. (The) | 2721574 |
| 2519 | Popular Inc. | 288955 |
| 3260 | Prosperity Bancshares Inc. | 223995 |
| 32445 | Regions Financial Corp. | 825725 |
| 3586 | SouthState Bank Corp. | 320983 |
| 4953 | Synovus Financial Corp. | 238735 |
| 1501 | TFS Financial Corp. | 21389 |
| 93999 | Truist Financial Corp. | 4370954 |
| 56795 | US Bancorp | 2785795 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 15.2% - (continued)** | **FINANCIALS - 15.2% - (continued)** | **FINANCIALS - 15.2% - (continued)** |
|  **Banks - 3.8% - (continued)** | **Banks - 3.8% - (continued)** | **Banks - 3.8% - (continued)** |
| 6280 | Webster Financial Corp. | $374288 |
| 254536 | Wells Fargo & Co. | 21851916 |
| 4000 | Western Alliance Bancorp | 326120 |
| 2274 | Wintrust Financial Corp. | 304761 |
| 5113 | Zions Bancorp NA | 272165 |
|  | Total Banks | 133312160 |
|  **Capital Markets - 4.6%** | **Capital Markets - 4.6%** | **Capital Markets - 4.6%** |
| 1040 | Affiliated Managers Group Inc. | 279583 |
| 3448 | Ameriprise Financial Inc. | 1571391 |
| 6842 | Ares Management Corp., Class A Shares | 1073168 |
| 25758 | Bank of New York Mellon Corp. (The) | 2887472 |
| 15781 | Blackrock Inc. | 16527441 |
| 26616 | Blackstone Inc. | 3897115 |
| 22182 | Blue Owl Capital Inc., Class A Shares | 332730 |
| 34367 | Brookfield Asset Management Ltd., Class A Shares | 1812516 |
| 545683 | Brookfield Corp. | 25647101 |
| 9390 | Carlyle Group Inc. (The) | 512037 |
| 3824 | Cboe Global Markets Inc. | 987242 |
| 97062 | Charles Schwab Corp. (The) | 9000559 |
| 13078 | CME Group Inc., Class A Shares | 3680934 |
| 7642 | Coinbase Global Inc., Class A Shares\* | 2084890 |
| 1340 | Evercore Inc., Class A Shares | 428894 |
| 1362 | FactSet Research Systems Inc. | 377642 |
| 11198 | Franklin Resources Inc. | 252963 |
| 632 | Freedom Holding Corp./NV\* | 83361 |
| 21749 | Goldman Sachs Group Inc. (The) | 17965544 |
| 1428 | Hamilton Lane Inc., Class A Shares | 176979 |
| 1936 | Houlihan Lokey Inc., Class A Shares | 339574 |
| 15594 | Interactive Brokers Group Inc., Class A Shares | 1013922 |
| 74542 | Intercontinental Exchange Inc. | 11725457 |
| 13233 | Invesco Ltd. | 323547 |
| 4721 | Janus Henderson Group PLC | 206355 |
| 5475 | Jefferies Financial Group Inc. | 315141 |
| 89762 | KKR & Co., Inc., Class Miscella Shares | 10978790 |
| 4154 | Lazard Inc., Class A Shares | 209777 |
| 2848 | LPL Financial Holdings Inc. | 1014002 |
| 1358 | MarketAxess Holdings Inc. | 222563 |
| 9096 | Moody's Corp. | 4464135 |
| 41881 | Morgan Stanley(c) | 7105530 |
| 930 | Morningstar Inc. | 199820 |
| 6860 | MSCI Inc., Class A Shares | 3867119 |
| 14861 | Nasdaq Inc. | 1351162 |
| 6879 | Northern Trust Corp. | 903488 |
| 6677 | Raymond James Financial Inc. | 1045217 |
| 26912 | Robinhood Markets Inc., Class A Shares\* | 3457923 |
| 28659 | S&P Global Inc. | 14295969 |
| 3808 | SEI Investments Co. | 307915 |
| 38603 | State Street Corp. | 4594529 |
| 3482 | Stifel Financial Corp. | 424804 |
| 7756 | T. Rowe Price Group Inc. | 794059 |
| 4809 | TPG Inc., Class A Shares | 284116 |
| 4109 | Tradeweb Markets Inc., Class A Shares | 447306 |
| 2820 | Virtu Financial Inc., Class A Shares | 100843 |
| 16067 | XP Inc., Class A Shares | 316680 |
|  | Total Capital Markets | 159889305 |
|  **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** |
| 10034 | Ally Financial Inc. | 414404 |
| 39792 | American Express Co. | 14534824 |
| 22858 | Capital One Financial Corp. | 5007502 |
| 232 | Credit Acceptance Corp.\* | 107177 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 15.2% - (continued)** | **FINANCIALS - 15.2% - (continued)** | **FINANCIALS - 15.2% - (continued)** |
|  **Consumer Finance - 0.7% - (continued)** | **Consumer Finance - 0.7% - (continued)** | **Consumer Finance - 0.7% - (continued)** |
| 3921 | OneMain Holdings Inc., Class A Shares | $243220 |
| 7454 | SLM Corp. | 218402 |
| 40500 | SoFi Technologies Inc.\* | 1203660 |
| 14032 | Synchrony Financial | 1085515 |
|  | Total Consumer Finance | 22814704 |
|  **Financial Services - 4.1%** | **Financial Services - 4.1%** | **Financial Services - 4.1%** |
| 9757 | Affirm Holdings Inc., Class A Shares\* | 692259 |
| 14992 | Apollo Global Management Inc. | 1976695 |
| 88173 | Berkshire Hathaway Inc., Class B Shares\* | 45304169 |
| 20043 | Block Inc., Class A Shares\* | 1338872 |
| 2506 | Corpay Inc.\* | 741275 |
| 9250 | Equitable Holdings Inc. | 431883 |
| 1549 | Euronet Worldwide Inc.\* | 114766 |
| 19165 | Fidelity National Information Services Inc. | 1260482 |
| 19731 | Fiserv Inc.\* | 1212865 |
| 9134 | Global Payments Inc. | 691992 |
| 2738 | Jack Henry & Associates Inc. | 477726 |
| 59794 | MasterCard Inc., Class A Shares | 32918391 |
| 9252 | MGIC Investment Corp. | 262294 |
| 142828 | PayPal Holdings Inc. | 8953887 |
| 35041 | Rocket Cos., Inc., Class A Shares | 700119 |
| 2509 | Shift4 Payments Inc., Class A Shares\* | 185114 |
| 16545 | Toast Inc., Class A Shares\* | 565674 |
| 6999 | UWM Holdings Corp. | 40944 |
| 136452 | Visa Inc., Class A Shares | 45635007 |
| 3608 | Voya Financial Inc. | 253642 |
| 6395 | Western Union Co. (The) | 56212 |
| 1283 | WEX Inc.\* | 190346 |
|  | Total Financial Services | 144004614 |
|  **Insurance - 2.0%** | **Insurance - 2.0%** | **Insurance - 2.0%** |
| 17713 | Aflac Inc. | 1953921 |
| 9596 | Allstate Corp. (The) | 2043756 |
| 2542 | American Financial Group Inc. | 350084 |
| 20871 | American International Group Inc. | 1589535 |
| 7635 | Aon PLC, Class A Shares | 2702179 |
| 13268 | Arch Capital Group Ltd.\* | 1246131 |
| 19371 | Arthur J. Gallagher & Co. | 4796647 |
| 1872 | Assurant Inc. | 427116 |
| 1699 | Assured Guaranty Ltd. | 153827 |
| 2705 | Axis Capital Holdings Ltd. | 276559 |
| 2242 | Brighthouse Financial Inc.\* | 146963 |
| 10145 | Brown & Brown Inc. | 815962 |
| 13533 | Chubb Ltd. | 4008204 |
| 5515 | Cincinnati Financial Corp. | 924259 |
| 929 | CNA Financial Corp. | 43431 |
| 1510 | Everest Group Ltd. | 474578 |
| 9224 | Fidelity National Financial Inc. | 548182 |
| 3281 | First American Financial Corp. | 215759 |
| 2997 | Globe Life Inc. | 403786 |
| 1262 | Hanover Insurance Group Inc. (The) | 234164 |
| 81371 | Hartford Insurance Group Inc. (The) | 11150268 |
| 2288 | Kemper Corp. | 93167 |
| 811 | Kinsale Capital Group Inc. | 312154 |
| 4059 | Lincoln National Corp. | 166987 |
| 6353 | Loews Corp. | 685298 |
| 455 | Markel Group Inc.\* | 946600 |
| 34789 | Marsh & McLennan Cos., Inc. | 6382042 |
| 20458 | MetLife Inc. | 1566265 |
| 8207 | Old Republic International Corp. | 378343 |
| 1226 | Primerica Inc. | 315474 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 15.2% - (continued)** | **FINANCIALS - 15.2% - (continued)** | **FINANCIALS - 15.2% - (continued)** |
|  **Insurance - 2.0% - (continued)** | **Insurance - 2.0% - (continued)** | **Insurance - 2.0% - (continued)** |
| 8268 | Principal Financial Group Inc. | $701292 |
| 21309 | Progressive Corp. (The) | 4875286 |
| 38491 | Prudential Financial Inc. | 4166651 |
| 2351 | Reinsurance Group of America Inc., Class A Shares | 446384 |
| 1835 | RenaissanceRe Holdings Ltd. | 479247 |
| 3004 | RLI Corp. | 185227 |
| 3867 | Ryan Specialty Holdings Inc., Class A Shares | 224557 |
| 36939 | Travelers Cos., Inc. (The) | 10817956 |
| 6319 | Unum Group | 480054 |
| 91 | White Mountains Insurance Group Ltd. | 184207 |
| 3561 | Willis Towers Watson PLC | 1143081 |
| 10657 | WR Berkley Corp. | 827942 |
|  | Total Insurance | 69883525 |
|  **Mortgage Real Estate Investment Trusts (REITs) - 0.0%@** | **Mortgage Real Estate Investment Trusts (REITs) - 0.0%@** | **Mortgage Real Estate Investment Trusts (REITs) - 0.0%@** |
| 37342 | AGNC Investment Corp. | 391718 |
| 23068 | Annaly Capital Management Inc. | 525950 |
| 18626 | Rithm Capital Corp. | 214013 |
| 12572 | Starwood Property Trust Inc. | 230570 |
|  | Total Mortgage Real Estate Investment Trusts (REITs) | 1362251 |
|  | **TOTAL FINANCIALS** | **531266559** |
|  **HEALTH CARE - 10.0%** | **HEALTH CARE - 10.0%** | **HEALTH CARE - 10.0%** |
|  **Biotechnology - 2.0%** | **Biotechnology - 2.0%** | **Biotechnology - 2.0%** |
| 91898 | AbbVie Inc. | 20925175 |
| 4539 | Alnylam Pharmaceuticals Inc.\* | 2048133 |
| 34996 | Amgen Inc. | 12089718 |
| 4310 | Apellis Pharmaceuticals Inc.\* | 91803 |
| 5155 | Biogen Inc.\* | 938674 |
| 6779 | BioMarin Pharmaceutical Inc.\* | 379149 |
| 814 | Caris Life Sciences Inc.\* | 20781 |
| 6661 | Exact Sciences Corp.\* | 674693 |
| 10184 | Exelixis Inc.\* | 449827 |
| 116453 | Gilead Sciences Inc. | 14654446 |
| 4382 | Halozyme Therapeutics Inc.\* | 312875 |
| 5793 | Incyte Corp.\* | 605137 |
| 6773 | Insmed Inc.\* | 1407226 |
| 5703 | Ionis Pharmaceuticals Inc.\* | 471809 |
| 12898 | Moderna Inc.\* | 335090 |
| 4662 | Natera Inc.\* | 1113332 |
| 3820 | Neurocrine Biosciences Inc.\* | 581251 |
| 3793 | Regeneron Pharmaceuticals Inc. | 2959261 |
| 6198 | Revolution Medicines Inc.\* | 481956 |
| 18681 | Roivant Sciences Ltd.\* | 388752 |
| 3228 | Sarepta Therapeutics Inc.\* | 68886 |
| 4253 | Summit Therapeutics Inc.\* | 76086 |
| 2939 | Ultragenyx Pharmaceutical Inc.\* | 102130 |
| 1615 | United Therapeutics Corp.\* | 784890 |
| 18096 | Vertex Pharmaceuticals Inc.\* | 7846607 |
| 3987 | Viking Therapeutics Inc.\* | 146761 |
|  | Total Biotechnology | 69954448 |
|  **Health Care Equipment & Supplies - 2.5%** | **Health Care Equipment & Supplies - 2.5%** | **Health Care Equipment & Supplies - 2.5%** |
| 159060 | Abbott Laboratories | 20502834 |
| 2678 | Align Technology Inc.\* | 394175 |
| 18115 | Baxter International Inc. | 339475 |
| 38102 | Becton Dickinson & Co. | 7392550 |
| 155883 | Boston Scientific Corp.\* | 15834595 |
| 7243 | Cooper Cos Inc. (The)\* | 564447 |
| 7759 | DENTSPLY SIRONA Inc. | 87987 |
| 14294 | DexCom Inc.\* | 907240 |
| 20932 | Edwards Lifesciences Corp.\* | 1814176 |
| 6110 | Envista Holdings Corp.\* | 127699 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 10.0% - (continued)** | **HEALTH CARE - 10.0% - (continued)** | **HEALTH CARE - 10.0% - (continued)** |
|  **Health Care Equipment & Supplies - 2.5% - (continued)** | **Health Care Equipment & Supplies - 2.5% - (continued)** | **Health Care Equipment & Supplies - 2.5% - (continued)** |
| 16704 | GE HealthCare Technologies Inc. | $1336153 |
| 3942 | Globus Medical Inc., Class A Shares\* | 358880 |
| 8113 | Hologic Inc.\* | 608232 |
| 6475 | IDEXX Laboratories Inc.\* | 4874898 |
| 1041 | Inspire Medical Systems Inc.\* | 129511 |
| 2534 | Insulet Corp.\* | 829099 |
| 26040 | Intuitive Surgical Inc.\* | 14933419 |
| 1569 | Masimo Corp.\* | 223473 |
| 46634 | Medtronic PLC | 4911959 |
| 1330 | Penumbra Inc.\* | 389916 |
| 5322 | ResMed Inc. | 1361527 |
| 5368 | Solventum Corp.\* | 457676 |
| 3583 | STERIS PLC | 954081 |
| 21797 | Stryker Corp. | 8090610 |
| 1609 | Teleflex Inc. | 184102 |
| 7224 | Zimmer Biomet Holdings Inc. | 704485 |
|  | Total Health Care Equipment & Supplies | 88313199 |
|  **Health Care Providers & Services - 1.5%** | **Health Care Providers & Services - 1.5%** | **Health Care Providers & Services - 1.5%** |
| 3355 | Acadia Healthcare Co., Inc.\* | 57706 |
| 8754 | Cardinal Health Inc. | 1858124 |
| 28585 | Cencora Inc. | 10545864 |
| 18207 | Centene Corp.\* | 716263 |
| 538 | Chemed Corp. | 236284 |
| 9645 | Cigna Group (The) | 2674366 |
| 45544 | CVS Health Corp. | 3659916 |
| 1368 | DaVita Inc.\* | 163722 |
| 8223 | Elevance Health Inc. | 2781512 |
| 3569 | Encompass Health Corp. | 414789 |
| 6254 | HCA Healthcare Inc. | 3178846 |
| 4390 | Henry Schein Inc.\* | 327362 |
| 4350 | Humana Inc. | 1069100 |
| 3042 | Labcorp Holdings Inc. | 817629 |
| 4564 | McKesson Corp. | 4021432 |
| 2004 | Molina Healthcare Inc.\* | 297113 |
| 4031 | Quest Diagnostics Inc. | 762585 |
| 3421 | Tenet Healthcare Corp.\* | 741810 |
| 55829 | UnitedHealth Group Inc. | 18410729 |
| 2069 | Universal Health Services Inc., Class B Shares | 504070 |
|  | Total Health Care Providers & Services | 53239222 |
|  **Health Care Technology - 0.1%** | **Health Care Technology - 0.1%** | **Health Care Technology - 0.1%** |
| 4732 | Certara Inc.\* | 43345 |
| 4670 | Doximity Inc., Class A Shares\* | 240225 |
| 16391 | Veeva Systems Inc., Class A Shares\* | 3938593 |
|  | Total Health Care Technology | 4222163 |
|  **Life Sciences Tools & Services - 1.4%** | **Life Sciences Tools & Services - 1.4%** | **Life Sciences Tools & Services - 1.4%** |
| 10371 | Agilent Technologies Inc. | 1591948 |
| 24429 | Avantor Inc.\* | 286552 |
| 655 | Bio-Rad Laboratories Inc., Class A Shares\* | 212783 |
| 5825 | Bio-Techne Corp. | 375771 |
| 3694 | Bruker Corp. | 180304 |
| 1812 | Charles River Laboratories International Inc.\* | 322790 |
| 81380 | Danaher Corp. | 18455356 |
| 5707 | Illumina Inc.\* | 750185 |
| 6265 | IQVIA Holdings Inc.\* | 1441013 |
| 886 | Medpace Holdings Inc.\* | 524920 |
| 748 | Mettler-Toledo International Inc.\* | 1104587 |
| 7584 | QIAGEN NV | 362136 |
| 2038 | Repligen Corp.\* | 348539 |
| 4400 | Revvity Inc. | 459404 |
| 4951 | Sotera Health Co.\* | 86543 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 10.0% - (continued)** | **HEALTH CARE - 10.0% - (continued)** | **HEALTH CARE - 10.0% - (continued)** |
|  **Life Sciences Tools & Services - 1.4% - (continued)** | **Life Sciences Tools & Services - 1.4% - (continued)** | **Life Sciences Tools & Services - 1.4% - (continued)** |
| 2943 | Tempus AI Inc., Class A Shares\* | $229348 |
| 35026 | Thermo Fisher Scientific Inc. | 20694412 |
| 2134 | Waters Corp.\* | 860898 |
| 2577 | West Pharmaceutical Services Inc. | 714473 |
|  | Total Life Sciences Tools & Services | 49001962 |
|  **Pharmaceuticals - 2.5%** | **Pharmaceuticals - 2.5%** | **Pharmaceuticals - 2.5%** |
| 74109 | Bristol-Myers Squibb Co. | 3646163 |
| 3361 | Corcept Therapeutics Inc.\* | 266863 |
| 18591 | Elanco Animal Health Inc.\* | 432613 |
| 29133 | Eli Lilly & Co. | 31331668 |
| 1996 | Jazz Pharmaceuticals PLC\* | 352354 |
| 87509 | Johnson & Johnson | 18107362 |
| 181758 | Merck & Co., Inc. | 19053691 |
| 8895 | Organon & Co. | 68580 |
| 4681 | Perrigo Co. PLC | 62491 |
| 206586 | Pfizer Inc. | 5317524 |
| 13934 | Royalty Pharma PLC, Class A Shares | 557639 |
| 43270 | Viatris Inc. | 462556 |
| 56049 | Zoetis Inc., Class A Shares | 7184361 |
|  | Total Pharmaceuticals | 86843865 |
|  | **TOTAL HEALTH CARE** | **351574859** |
|  **INDUSTRIALS - 9.8%** | **INDUSTRIALS - 9.8%** | **INDUSTRIALS - 9.8%** |
|  **Aerospace & Defense - 3.1%** | **Aerospace & Defense - 3.1%** | **Aerospace & Defense - 3.1%** |
| 54742 | Airbus SE, ADR | 3161350 |
| 5086 | ATI Inc.\* | 512669 |
| 2713 | Axon Enterprise Inc.\* | 1465400 |
| 57360 | Boeing Co. (The)\* | 10841040 |
| 3245 | BWX Technologies Inc. | 580466 |
| 1721 | Carpenter Technology Corp. | 548207 |
| 1365 | Curtiss-Wright Corp. | 770256 |
| 9189 | General Dynamics Corp. | 3139238 |
| 38240 | General Electric Co. | 11412728 |
| 1584 | HEICO Corp. | 501985 |
| 26635 | HEICO Corp., Class A Shares | 6578046 |
| 2991 | Hexcel Corp. | 228004 |
| 14583 | Howmet Aerospace Inc. | 2983536 |
| 1400 | Huntington Ingalls Industries Inc. | 439068 |
| 1234 | Karman Holdings Inc.\* | 82715 |
| 6787 | L3Harris Technologies Inc. | 1891469 |
| 2704 | Leonardo DRS Inc. | 92396 |
| 1515 | Loar Holdings Inc.\* | 103702 |
| 7561 | Lockheed Martin Corp. | 3461879 |
| 4910 | Northrop Grumman Corp. | 2809747 |
| 15044 | Rocket Lab Corp.\* | 633954 |
| 141774 | RTX Corp. | 24797690 |
| 4309 | Spirit AeroSystems Holdings Inc., Class A Shares\* | 158270 |
| 4559 | StandardAero Inc.\* | 119081 |
| 71062 | Textron Inc. | 5909516 |
| 16886 | TransDigm Group Inc. | 22967831 |
| 2154 | Woodward Inc. | 646265 |
|  | Total Aerospace & Defense | 106836508 |
|  **Air Freight & Logistics - 0.2%** | **Air Freight & Logistics - 0.2%** | **Air Freight & Logistics - 0.2%** |
| 4181 | CH Robinson Worldwide Inc. | 664236 |
| 4959 | Expeditors International of Washington Inc. | 728477 |
| 7785 | FedEx Corp. | 2146169 |
| 4137 | GXO Logistics Inc.\* | 209911 |
| 26690 | United Parcel Service Inc., Class B Shares | 2556635 |
|  | Total Air Freight & Logistics | 6305428 |
|  **Building Products - 0.6%** | **Building Products - 0.6%** | **Building Products - 0.6%** |
| 2335 | AAON Inc. | 218276 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 9.8% - (continued)** | **INDUSTRIALS - 9.8% - (continued)** | **INDUSTRIALS - 9.8% - (continued)** |
|  **Building Products - 0.6% - (continued)** | **Building Products - 0.6% - (continued)** | **Building Products - 0.6% - (continued)** |
| 2449 | Advanced Drainage Systems Inc. | $373179 |
| 3169 | Allegion PLC | 526149 |
| 4397 | AO Smith Corp. | 290114 |
| 1581 | Armstrong World Industries Inc. | 299979 |
| 4066 | Builders FirstSource Inc.\* | 456327 |
| 1604 | Carlisle Cos., Inc. | 510184 |
| 124221 | Carrier Global Corp. | 6817249 |
| 4311 | Fortune Brands Innovations Inc. | 222577 |
| 7216 | Hayward Holdings Inc.\* | 118703 |
| 24007 | Johnson Controls International PLC | 2792254 |
| 1168 | Lennox International Inc. | 582680 |
| 7758 | Masco Corp. | 503262 |
| 37718 | Owens Corning | 4271186 |
| 1529 | Simpson Manufacturing Co., Inc. | 255924 |
| 8107 | Trane Technologies PLC | 3416938 |
| 3751 | Trex Co., Inc.\* | 131210 |
|  | Total Building Products | 21786191 |
|  **Commercial Services & Supplies - 0.5%** | **Commercial Services & Supplies - 0.5%** | **Commercial Services & Supplies - 0.5%** |
| 12403 | Cintas Corp. | 2307206 |
| 1849 | Clean Harbors Inc.\* | 420759 |
| 155485 | Copart Inc.\* | 6060805 |
| 1363 | MSA Safety Inc. | 219852 |
| 6740 | RB Global Inc. | 661868 |
| 7356 | Republic Services Inc., Class A Shares | 1596693 |
| 10428 | Rollins Inc. | 641113 |
| 9363 | Tetra Tech Inc. | 325271 |
| 8526 | Veralto Corp. | 863002 |
| 13453 | Waste Management Inc. | 2931005 |
|  | Total Commercial Services & Supplies | 16027574 |
|  **Construction & Engineering - 0.4%** | **Construction & Engineering - 0.4%** | **Construction & Engineering - 0.4%** |
| 4732 | AECOM | 488011 |
| 13397 | API Group Corp.\* | 529985 |
| 1258 | Comfort Systems USA Inc. | 1228991 |
| 1615 | EMCOR Group Inc. | 993338 |
| 1961 | Everus Construction Group Inc.\* | 180334 |
| 2234 | MasTec Inc.\* | 477808 |
| 21759 | Quanta Services Inc. | 10115324 |
| 733 | Valmont Industries Inc. | 302707 |
| 6243 | WillScot Holdings Corp. | 123299 |
|  | Total Construction & Engineering | 14439797 |
|  **Electrical Equipment - 1.1%** | **Electrical Equipment - 1.1%** | **Electrical Equipment - 1.1%** |
| 1072 | Acuity Inc. | 392802 |
| 8396 | AMETEK Inc. | 1661485 |
| 28217 | Eaton Corp. PLC | 9759978 |
| 20495 | Emerson Electric Co. | 2733623 |
| 16826 | GE Vernova Inc. | 10091730 |
| 2096 | Generac Holdings Inc.\* | 317817 |
| 1944 | Hubbell Inc., Class B Shares | 838700 |
| 5727 | nVent Electric PLC | 614335 |
| 2364 | Regal Rexnord Corp. | 345120 |
| 25658 | Rockwell Automation Inc. | 10156976 |
| 5484 | Sensata Technologies Holding PLC | 175872 |
| 13834 | Vertiv Holdings Co., Class A Shares | 2486385 |
|  | Total Electrical Equipment | 39574823 |
|  **Ground Transportation - 0.9%** | **Ground Transportation - 0.9%** | **Ground Transportation - 0.9%** |
| 546 | Avis Budget Group Inc.\* | 74190 |
| 287768 | CSX Corp. | 10175476 |
| 2932 | JB Hunt Transport Services Inc. | 510051 |
| 5507 | Knight-Swift Transportation Holdings Inc., Class A Shares | 252221 |
| 1229 | Landstar System Inc. | 160802 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 9.8% - (continued)** | **INDUSTRIALS - 9.8% - (continued)** | **INDUSTRIALS - 9.8% - (continued)** |
|  **Ground Transportation - 0.9% - (continued)** | **Ground Transportation - 0.9% - (continued)** | **Ground Transportation - 0.9% - (continued)** |
| 13731 | Lyft Inc., Class A Shares\* | $288763 |
| 8212 | Norfolk Southern Corp. | 2398643 |
| 6826 | Old Dominion Freight Line Inc. | 923490 |
| 1439 | Ryder System Inc. | 249249 |
| 920 | Saia Inc.\* | 259035 |
| 1934 | Schneider National Inc., Class B Shares | 43728 |
| 113377 | Uber Technologies Inc.\* | 9925023 |
| 219 | U-Haul Holding Co.\* | 11530 |
| 3719 | U-Haul Holding Co.-Non Voting | 178921 |
| 21748 | Union Pacific Corp. | 5041839 |
| 4112 | XPO Inc.\* | 584151 |
|  | Total Ground Transportation | 31077112 |
|  **Industrial Conglomerates - 0.2%** | **Industrial Conglomerates - 0.2%** | **Industrial Conglomerates - 0.2%** |
| 19502 | 3M Co. | 3355319 |
| 23132 | Honeywell International Inc. | 4445739 |
|  | Total Industrial Conglomerates | 7801058 |
|  **Machinery - 1.7%** | **Machinery - 1.7%** | **Machinery - 1.7%** |
| 2303 | AGCO Corp. | 244026 |
| 3034 | Allison Transmission Holdings Inc. | 268994 |
| 16838 | Caterpillar Inc. | 9694647 |
| 30818 | CNH Industrial NV | 290614 |
| 1766 | Crane Co. | 323619 |
| 5004 | Cummins Inc. | 2491892 |
| 8885 | Deere & Co. | 4126994 |
| 4399 | Donaldson Co., Inc. | 395470 |
| 4960 | Dover Corp. | 918989 |
| 2059 | Esab Corp. | 231102 |
| 4792 | Flowserve Corp. | 341909 |
| 12535 | Fortive Corp. | 670372 |
| 8769 | Gates Industrial Corp. PLC\* | 199582 |
| 5966 | Graco Inc. | 491837 |
| 2708 | IDEX Corp. | 471002 |
| 10655 | Illinois Tool Works Inc. | 2656078 |
| 14676 | Ingersoll Rand Inc. | 1179070 |
| 2992 | ITT Inc. | 551007 |
| 1945 | Lincoln Electric Holdings Inc. | 465691 |
| 1852 | Middleby Corp. (The)\* | 218906 |
| 3878 | Mueller Industries Inc. | 426076 |
| 2051 | Nordson Corp. | 487441 |
| 2343 | Oshkosh Corp. | 300326 |
| 74635 | Otis Worldwide Corp. | 6631320 |
| 18741 | PACCAR Inc. | 1975676 |
| 20628 | Parker-Hannifin Corp. | 17775148 |
| 5916 | Pentair PLC | 622600 |
| 1127 | RBC Bearings Inc.\* | 501481 |
| 1830 | Snap-on Inc. | 622291 |
| 5571 | Stanley Black & Decker Inc. | 398438 |
| 2356 | Timken Co. (The) | 191755 |
| 3557 | Toro Co. (The) | 248065 |
| 6174 | Westinghouse Air Brake Technologies Corp. | 1287588 |
| 8731 | Xylem Inc. | 1228190 |
|  | Total Machinery | 58928196 |
|  **Marine Transportation - 0.0%@** | **Marine Transportation - 0.0%@** | **Marine Transportation - 0.0%@** |
| 2033 | Kirby Corp.\* | 230786 |
|  **Passenger Airlines - 0.3%** | **Passenger Airlines - 0.3%** | **Passenger Airlines - 0.3%** |
| 4475 | Alaska Air Group Inc.\* | 191798 |
| 23742 | American Airlines Group Inc.\* | 333575 |
| 145303 | Delta Air Lines Inc. | 9313922 |
| 18281 | Southwest Airlines Co. | 636362 |
| 11811 | United Airlines Holdings Inc.\* | 1204250 |
|  | Total Passenger Airlines | 11679907 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 9.8% - (continued)** | **INDUSTRIALS - 9.8% - (continued)** | **INDUSTRIALS - 9.8% - (continued)** |
|  **Professional Services - 0.4%** | **Professional Services - 0.4%** | **Professional Services - 0.4%** |
| 6065 | Amentum Holdings Inc.\* | $173641 |
| 14817 | Automatic Data Processing Inc. | 3782780 |
| 4498 | Booz Allen Hamilton Holding Corp., Class A Shares | 375403 |
| 4170 | Broadridge Financial Solutions Inc. | 951135 |
| 813 | CACI International Inc., Class A Shares\* | 501702 |
| 12941 | Clarivate PLC\* | 48658 |
| 1844 | Concentrix Corp. | 66771 |
| 5397 | Dayforce Inc.\* | 372933 |
| 4523 | Equifax Inc. | 960550 |
| 5659 | ExlService Holdings Inc.\* | 224832 |
| 1256 | FTI Consulting Inc.\* | 204916 |
| 6058 | Genpact Ltd. | 266916 |
| 4383 | Jacobs Solutions Inc. | 590872 |
| 4700 | KBR Inc. | 193734 |
| 4827 | Leidos Holdings Inc. | 922440 |
| 1598 | ManpowerGroup Inc. | 45959 |
| 1715 | Parsons Corp.\* | 145226 |
| 11734 | Paychex Inc. | 1310570 |
| 1830 | Paycom Software Inc. | 294941 |
| 1524 | Paylocity Holding Corp.\* | 224531 |
| 3512 | Robert Half Inc. | 94965 |
| 1713 | Science Applications International Corp. | 147678 |
| 7609 | SS&C Technologies Holdings Inc. | 653917 |
| 6901 | TransUnion | 586930 |
| 5046 | Verisk Analytics Inc., Class A Shares | 1135703 |
|  | Total Professional Services | 14277703 |
|  **Trading Companies & Distributors - 0.4%** | **Trading Companies & Distributors - 0.4%** | **Trading Companies & Distributors - 0.4%** |
| 3876 | Air Lease Corp., Class A Shares | 247793 |
| 1362 | Applied Industrial Technologies Inc. | 352513 |
| 6952 | Core & Main Inc., Class A Shares\* | 336060 |
| 41743 | Fastenal Co. | 1686417 |
| 7043 | Ferguson Enterprises Inc. | 1772512 |
| 3643 | FTAI Aviation Ltd. | 631113 |
| 1600 | MSC Industrial Direct Co., Inc., Class A Shares | 142336 |
| 21934 | QXO Inc.\* | 410824 |
| 1601 | SiteOne Landscape Supply Inc.\* | 214982 |
| 2347 | United Rentals Inc. | 1913228 |
| 1306 | Watsco Inc. | 452398 |
| 1742 | WESCO International Inc. | 465828 |
| 5516 | WW Grainger Inc. | 5232643 |
|  | Total Trading Companies & Distributors | 13858647 |
|  | **TOTAL INDUSTRIALS** | **342823730** |
|  **INFORMATION TECHNOLOGY - 29.4%** | **INFORMATION TECHNOLOGY - 29.4%** | **INFORMATION TECHNOLOGY - 29.4%** |
|  **Communications Equipment - 1.1%** | **Communications Equipment - 1.1%** | **Communications Equipment - 1.1%** |
| 37514 | Arista Networks Inc.\* | 4902330 |
| 5129 | Ciena Corp.\* | 1047393 |
| 283529 | Cisco Systems Inc. | 21814721 |
| 2063 | F5 Inc.\* | 493387 |
| 2561 | Lumentum Holdings Inc.\* | 832735 |
| 21971 | Motorola Solutions Inc. | 8122239 |
| 142 | Ubiquiti Inc. | 82799 |
|  | Total Communications Equipment | 37295604 |
|  **Electronic Equipment, Instruments & Components - 0.6%** | **Electronic Equipment, Instruments & Components - 0.6%** | **Electronic Equipment, Instruments & Components - 0.6%** |
| 73152 | Amphenol Corp., Class A Shares | 10307117 |
| 1814 | Arrow Electronics Inc.\* | 195930 |
| 3107 | Avnet Inc. | 147614 |
| 4862 | CDW Corp. | 701198 |
| 5859 | Cognex Corp. | 223228 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 29.4% - (continued)** | **INFORMATION TECHNOLOGY - 29.4% - (continued)** | **INFORMATION TECHNOLOGY - 29.4% - (continued)** |
|  **Electronic Equipment, Instruments & Components - 0.6% - (continued)** | **Electronic Equipment, Instruments & Components - 0.6% - (continued)** | **Electronic Equipment, Instruments & Components - 0.6% - (continued)** |
| 5508 | Coherent Corp.\* | $904744 |
| 28391 | Corning Inc. | 2390522 |
| 1921 | Crane NXT Co. | 108152 |
| 13631 | Flex Ltd.\* | 805728 |
| 898 | Ingram Micro Holding Corp. | 19226 |
| 1005 | IPG Photonics Corp.\* | 80038 |
| 3877 | Jabil Inc. | 816923 |
| 6240 | Keysight Technologies Inc.\* | 1235208 |
| 852 | Littelfuse Inc. | 218129 |
| 4178 | Ralliant Corp. | 206268 |
| 2819 | TD SYNNEX Corp. | 429841 |
| 1677 | Teledyne Technologies Inc.\* | 837695 |
| 8662 | Trimble Inc.\* | 705260 |
| 5348 | Vontier Corp. | 194025 |
| 1834 | Zebra Technologies Corp., Class A Shares\* | 463544 |
|  | Total Electronic Equipment, Instruments & Components | 20990390 |
|  **IT Services - 0.8%** | **IT Services - 0.8%** | **IT Services - 0.8%** |
| 22764 | Accenture PLC, Class A Shares | 5691000 |
| 5362 | Akamai Technologies Inc.\* | 480006 |
| 4062 | Amdocs Ltd. | 310662 |
| 11221 | Cloudflare Inc., Class A Shares\* | 2246556 |
| 17849 | Cognizant Technology Solutions Corp., Class A Shares | 1387046 |
| 6133 | DXC Technology Co.\* | 80956 |
| 1990 | EPAM Systems Inc.\* | 372130 |
| 2676 | Gartner Inc.\* | 622812 |
| 1523 | Globant SA\* | 96908 |
| 5005 | GoDaddy Inc., Class A Shares\* | 639939 |
| 33834 | International Business Machines Corp. | 10440496 |
| 8104 | Kyndryl Holdings Inc.\* | 209326 |
| 2832 | MongoDB Inc., Class A Shares\* | 941272 |
| 5990 | Okta Inc., Class A Shares\* | 481177 |
| 11366 | Snowflake Inc., Class A Shares\* | 2855594 |
| 5056 | Twilio Inc., Class A Shares\* | 655713 |
| 3066 | VeriSign Inc. | 772601 |
|  | Total IT Services | 28284194 |
|  **Semiconductors & Semiconductor Equipment - 11.7%** | **Semiconductors & Semiconductor Equipment - 11.7%** | **Semiconductors & Semiconductor Equipment - 11.7%** |
| 58562 | Advanced Micro Devices Inc.\* | 12738992 |
| 3886 | Allegro MicroSystems Inc.\* | 103717 |
| 4511 | Amkor Technology Inc. | 164155 |
| 18041 | Analog Devices Inc. | 4786999 |
| 29176 | Applied Materials Inc. | 7359646 |
| 4007 | ASML Holding NV, Class REG Shares, ADR | 4247420 |
| 4523 | Astera Labs Inc.\* | 712689 |
| 248464 | Broadcom Inc. | 100121053 |
| 1813 | Cirrus Logic Inc.\* | 218176 |
| 4697 | Enphase Energy Inc.\* | 135508 |
| 5428 | Entegris Inc. | 418716 |
| 3802 | First Solar Inc.\* | 1037642 |
| 3375 | GLOBALFOUNDRIES Inc.\* | 120960 |
| 158914 | Intel Corp.\* | 6445552 |
| 4839 | KLA Corp. | 5688099 |
| 46497 | Lam Research Corp. | 7253532 |
| 5007 | Lattice Semiconductor Corp.\* | 351541 |
| 2243 | MACOM Technology Solutions Holdings Inc.\* | 392503 |
| 54152 | Marvell Technology Inc. | 4841189 |
| 19056 | Microchip Technology Inc. | 1021021 |
| 89337 | Micron Technology Inc. | 21126414 |
| 2338 | MKS Inc. | 365640 |
| 1677 | Monolithic Power Systems Inc. | 1556541 |
| 1163336 | NVIDIA Corp. | 205910472 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 29.4% - (continued)** | **INFORMATION TECHNOLOGY - 29.4% - (continued)** | **INFORMATION TECHNOLOGY - 29.4% - (continued)** |
|  **Semiconductors & Semiconductor Equipment - 11.7% - (continued)** | **Semiconductors & Semiconductor Equipment - 11.7% - (continued)** | **Semiconductors & Semiconductor Equipment - 11.7% - (continued)** |
| 53134 | ON Semiconductor Corp.\* | $2669452 |
| 1764 | Onto Innovation Inc.\* | 252534 |
| 39582 | Qnity Electronics Inc. | 3209704 |
| 3341 | Qorvo Inc.\* | 286959 |
| 39315 | QUALCOMM Inc. | 6608458 |
| 5826 | Skyworks Solutions Inc. | 384225 |
| 14196 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 4138276 |
| 5848 | Teradyne Inc. | 1063693 |
| 33050 | Texas Instruments Inc. | 5561324 |
| 1662 | Universal Display Corp. | 197662 |
|  | Total Semiconductors & Semiconductor Equipment | 411490464 |
|  **Software - 10.3%** | **Software - 10.3%** | **Software - 10.3%** |
| 15476 | Adobe Inc.\* | 4954332 |
| 836 | Appfolio Inc., Class A Shares\* | 190842 |
| 8670 | AppLovin Corp., Class A Shares\* | 5197492 |
| 5885 | Atlassian Corp., Class A Shares\* | 879925 |
| 35225 | Aurora Innovation Inc., Class A Shares\* | 147593 |
| 7686 | Autodesk Inc.\* | 2331471 |
| 5724 | Bentley Systems Inc., Class B Shares | 240179 |
| 3636 | BILL Holdings Inc.\* | 182345 |
| 58964 | Cadence Design Systems Inc.\* | 18387334 |
| 19920 | CCC Intelligent Solutions Holdings Inc.\* | 148404 |
| 1695 | Circle Internet Group Inc., Class A Shares\* | 135481 |
| 10066 | Confluent Inc., Class A Shares\* | 223969 |
| 837 | Constellation Software Inc. | 2046545 |
| 8881 | Crowdstrike Holdings Inc., Class A Shares\* | 4521850 |
| 19869 | Datadog Inc., Class A Shares\* | 3179239 |
| 7112 | Docusign Inc., Class A Shares\* | 493217 |
| 2232 | Dolby Laboratories Inc., Class A Shares | 150548 |
| 8161 | Dropbox Inc., Class A Shares\* | 243851 |
| 10840 | Dynatrace Inc.\* | 483030 |
| 3062 | Elastic NV\* | 215963 |
| 2071 | Fair Isaac Corp.\* | 3739874 |
| 23138 | Fortinet Inc.\* | 1877186 |
| 19385 | Gen Digital Inc. | 511182 |
| 5397 | Gitlab Inc., Class A Shares\* | 221601 |
| 3045 | Guidewire Software Inc.\* | 657659 |
| 1849 | HubSpot Inc.\* | 679175 |
| 17566 | Intuit Inc. | 11138249 |
| 2202 | Manhattan Associates Inc.\* | 388543 |
| 434780 | Microsoft Corp. | 213916108 |
| 3877 | nCino Inc.\* | 95762 |
| 9276 | Nutanix Inc., Class A Shares\* | 443393 |
| 95275 | Oracle Corp. | 19240786 |
| 79432 | Palantir Technologies Inc., Class A Shares\* | 13380320 |
| 54305 | Palo Alto Networks Inc.\* | 10325010 |
| 3302 | Pegasystems Inc. | 180851 |
| 4460 | Procore Technologies Inc.\* | 330308 |
| 4336 | PTC Inc.\* | 760664 |
| 2788 | RingCentral Inc., Class A Shares\* | 78733 |
| 17889 | Roper Technologies Inc. | 7982430 |
| 4175 | Rubrik Inc., Class A Shares\* | 289411 |
| 2601 | SailPoint Inc.\* | 47910 |
| 42624 | Salesforce Inc. | 9826537 |
| 9594 | Samsara Inc., Class A Shares\* | 364860 |
| 9896 | SentinelOne Inc., Class A Shares\* | 160414 |
| 9146 | ServiceNow Inc.\* | 7430302 |
| 9600 | Strategy Inc., Class A Shares\* | 1700928 |
| 14612 | Synopsys Inc.\* | 6107962 |
| 3069 | Teradata Corp.\* | 87896 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 29.4% - (continued)** | **INFORMATION TECHNOLOGY - 29.4% - (continued)** | **INFORMATION TECHNOLOGY - 29.4% - (continued)** |
|  **Software - 10.3% - (continued)** | **Software - 10.3% - (continued)** | **Software - 10.3% - (continued)** |
| 1567 | Tyler Technologies Inc.\* | $735895 |
| 15976 | UiPath Inc., Class A Shares\* | 221427 |
| 11139 | Unity Software Inc.\* | 473630 |
| 7824 | Workday Inc., Class A Shares\* | 1687011 |
| 9324 | Zoom Communications Inc., Class A Shares\* | 792167 |
| 3506 | Zscaler Inc.\* | 881759 |
|  | Total Software | 361109553 |
|  **Technology Hardware, Storage & Peripherals - 4.9%** | **Technology Hardware, Storage & Peripherals - 4.9%** | **Technology Hardware, Storage & Peripherals - 4.9%** |
| 578837 | Apple Inc. | 161408697 |
| 11371 | Dell Technologies Inc., Class C Shares | 1516323 |
| 47518 | Hewlett Packard Enterprise Co. | 1039219 |
| 34297 | HP Inc. | 837533 |
| 7186 | NetApp Inc. | 801670 |
| 11472 | Pure Storage Inc., Class A Shares\* | 1020549 |
| 4842 | Sandisk Corp.\* | 1081122 |
| 18670 | Super Micro Computer Inc.\* | 631980 |
| 12586 | Western Digital Corp. | 2055671 |
|  | Total Technology Hardware, Storage & Peripherals | 170392764 |
|  | **TOTAL INFORMATION TECHNOLOGY** | **1029562969** |
|  **MATERIALS - 2.4%** | **MATERIALS - 2.4%** | **MATERIALS - 2.4%** |
|  **Chemicals - 1.3%** | **Chemicals - 1.3%** | **Chemicals - 1.3%** |
| 8078 | Air Products & Chemicals Inc. | 2108762 |
| 4069 | Albemarle Corp. | 528929 |
| 1606 | Ashland Inc. | 84957 |
| 7792 | Axalta Coating Systems Ltd.\* | 234773 |
| 3767 | Celanese Corp., Class A Shares | 156896 |
| 6204 | CF Industries Holdings Inc. | 488255 |
| 24619 | Corteva Inc. | 1661044 |
| 25583 | Dow Inc. | 610155 |
| 79167 | DuPont de Nemours Inc. | 3148472 |
| 4100 | Eastman Chemical Co. | 254528 |
| 9074 | Ecolab Inc. | 2496802 |
| 8379 | Element Solutions Inc. | 217184 |
| 4625 | FMC Corp. | 66091 |
| 5197 | Huntsman Corp. | 54153 |
| 9280 | International Flavors & Fragrances Inc. | 644774 |
| 50169 | Linde PLC | 20585344 |
| 9329 | LyondellBasell Industries NV, Class A Shares | 457028 |
| 11554 | Mosaic Co. (The) | 282957 |
| 236 | NewMarket Corp. | 180193 |
| 4515 | Olin Corp. | 95266 |
| 8288 | PPG Industries Inc. | 829132 |
| 4535 | RPM International Inc. | 486379 |
| 1413 | Scotts Miracle-Gro Co. (The) | 80004 |
| 23434 | Sherwin-Williams Co. (The) | 8054031 |
| 5783 | Solstice Advanced Materials Inc.\* | 275733 |
| 1167 | Westlake Corp. | 77967 |
|  | Total Chemicals | 44159809 |
|  **Construction Materials - 0.5%** | **Construction Materials - 0.5%** | **Construction Materials - 0.5%** |
| 24626 | CRH PLC | 2954135 |
| 1171 | Eagle Materials Inc. | 261976 |
| 5440 | James Hardie Industries PLC\* | 107603 |
| 14110 | Martin Marietta Materials Inc. | 8793917 |
| 17572 | Vulcan Materials Co. | 5223101 |
|  | Total Construction Materials | 17340732 |
|  **Containers & Packaging - 0.1%** | **Containers & Packaging - 0.1%** | **Containers & Packaging - 0.1%** |
| 80152 | Amcor PLC | 682895 |
| 2417 | AptarGroup Inc. | 301521 |
| 2855 | Avery Dennison Corp. | 492116 |
| 10723 | Ball Corp. | 531110 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **MATERIALS - 2.4% - (continued)** | **MATERIALS - 2.4% - (continued)** | **MATERIALS - 2.4% - (continued)** |
|  **Containers & Packaging - 0.1% - (continued)** | **Containers & Packaging - 0.1% - (continued)** | **Containers & Packaging - 0.1% - (continued)** |
| 4221 | Crown Holdings Inc. | $408719 |
| 10358 | Graphic Packaging Holding Co. | 167593 |
| 18720 | International Paper Co. | 739066 |
| 3239 | Packaging Corp. of America | 660983 |
| 5302 | Sealed Air Corp. | 227721 |
| 3002 | Silgan Holdings Inc. | 118999 |
| 18945 | Smurfit WestRock PLC | 676147 |
| 3505 | Sonoco Products Co. | 147806 |
|  | Total Containers & Packaging | 5154676 |
|  **Metals & Mining - 0.5%** | **Metals & Mining - 0.5%** | **Metals & Mining - 0.5%** |
| 9226 | Alcoa Corp. | 385093 |
| 18013 | Anglogold Ashanti PLC | 1543354 |
| 18130 | Cleveland-Cliffs Inc.\* | 236415 |
| 170876 | Freeport-McMoRan Inc. | 7344251 |
| 4777 | MP Materials Corp.\* | 295935 |
| 39810 | Newmont Corp. | 3611961 |
| 8372 | Nucor Corp. | 1335250 |
| 1925 | Reliance Inc. | 537691 |
| 2980 | Royal Gold Inc. | 607443 |
| 3139 | Southern Copper Corp. | 423075 |
| 5069 | Steel Dynamics Inc. | 850730 |
|  | Total Metals & Mining | 17171198 |
|  **Paper & Forest Products - 0.0%@** | **Paper & Forest Products - 0.0%@** | **Paper & Forest Products - 0.0%@** |
| 2196 | Louisiana-Pacific Corp. | 180094 |
|  | **TOTAL MATERIALS** | **84006509** |
|  **REAL ESTATE - 2.2%** | **REAL ESTATE - 2.2%** | **REAL ESTATE - 2.2%** |
|  **Diversified REITs - 0.0%@** | **Diversified REITs - 0.0%@** | **Diversified REITs - 0.0%@** |
| 7725 | WP Carey Inc. | 520433 |
|  **Health Care REITs - 0.2%** | **Health Care REITs - 0.2%** | **Health Care REITs - 0.2%** |
| 6113 | Alexandria Real Estate Equities Inc. | 328085 |
| 13397 | Healthcare Realty Trust Inc., Class A Shares | 244227 |
| 24931 | Healthpeak Properties Inc. | 455240 |
| 21700 | Medical Properties Trust Inc. | 124992 |
| 10442 | Omega Healthcare Investors Inc. | 479496 |
| 16265 | Ventas Inc. | 1311447 |
| 24335 | Welltower Inc. | 5067034 |
|  | Total Health Care REITs | 8010521 |
|  **Hotel & Resort REITs - 0.0%@** | **Hotel & Resort REITs - 0.0%@** | **Hotel & Resort REITs - 0.0%@** |
| 25319 | Host Hotels & Resorts Inc. | 446374 |
| 7686 | Park Hotels & Resorts Inc. | 83162 |
|  | Total Hotel & Resort REITs | 529536 |
|  **Industrial REITs - 0.3%** | **Industrial REITs - 0.3%** | **Industrial REITs - 0.3%** |
| 9865 | Americold Realty Trust Inc. | 106838 |
| 1928 | EastGroup Properties Inc. | 349315 |
| 4785 | First Industrial Realty Trust Inc. | 273893 |
| 2986 | Lineage Inc. | 106959 |
| 79614 | Prologis Inc. | 10232788 |
| 8617 | Rexford Industrial Realty Inc. | 358553 |
| 6589 | STAG Industrial Inc. | 258816 |
|  | Total Industrial REITs | 11687162 |
|  **Office REITs - 0.0%@** | **Office REITs - 0.0%@** | **Office REITs - 0.0%@** |
| 5731 | BXP Inc. | 414695 |
| 5895 | Cousins Properties Inc. | 151973 |
| 3477 | Highwoods Properties Inc. | 96661 |
| 4190 | Kilroy Realty Corp. | 179709 |
| 6345 | Vornado Realty Trust | 233623 |
|  | Total Office REITs | 1076661 |
|  **Real Estate Management & Development - 0.3%** | **Real Estate Management & Development - 0.3%** | **Real Estate Management & Development - 0.3%** |
| 10812 | CBRE Group Inc., Class A Shares\* | 1749706 |
| 97220 | CoStar Group Inc.\* | 6688736 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **REAL ESTATE - 2.2% - (continued)** | **REAL ESTATE - 2.2% - (continued)** | **REAL ESTATE - 2.2% - (continued)** |
|  **Real Estate Management & Development - 0.3% - (continued)** | **Real Estate Management & Development - 0.3% - (continued)** | **Real Estate Management & Development - 0.3% - (continued)** |
| 1100 | Howard Hughes Holdings Inc.\* | $98483 |
| 1719 | Jones Lang LaSalle Inc.\* | 559861 |
| 1770 | Zillow Group Inc., Class A Shares\* | 128060 |
| 5913 | Zillow Group Inc., Class C Shares\* | 439809 |
|  | Total Real Estate Management & Development | 9664655 |
|  **Residential REITs - 0.3%** | **Residential REITs - 0.3%** | **Residential REITs - 0.3%** |
| 12072 | American Homes 4 Rent, Class A Shares | 387753 |
| 5171 | AvalonBay Communities Inc. | 940812 |
| 3934 | Camden Property Trust | 418342 |
| 50991 | Equity LifeStyle Properties Inc. | 3205804 |
| 13856 | Equity Residential | 855608 |
| 2262 | Essex Property Trust Inc. | 596308 |
| 22235 | Invitation Homes Inc. | 627027 |
| 4232 | Mid-America Apartment Communities Inc. | 575086 |
| 4472 | Sun Communities Inc. | 576172 |
| 11699 | UDR Inc. | 426078 |
|  | Total Residential REITs | 8608990 |
|  **Retail REITs - 0.2%** | **Retail REITs - 0.2%** | **Retail REITs - 0.2%** |
| 3747 | Agree Realty Corp. | 281850 |
| 10566 | Brixmor Property Group Inc. | 276195 |
| 2957 | Federal Realty Investment Trust | 291945 |
| 24505 | Kimco Realty Corp. | 506273 |
| 6409 | NNN REIT Inc. | 265012 |
| 32889 | Realty Income Corp. | 1894735 |
| 6480 | Regency Centers Corp. | 461117 |
| 11781 | Simon Property Group Inc. | 2195036 |
|  | Total Retail REITs | 6172163 |
|  **Specialized REITs - 0.9%** | **Specialized REITs - 0.9%** | **Specialized REITs - 0.9%** |
| 45209 | American Tower Corp. | 8195035 |
| 15782 | Crown Castle Inc. | 1440581 |
| 7927 | CubeSmart | 295122 |
| 12265 | Digital Realty Trust Inc. | 1963872 |
| 2805 | EPR Properties | 146617 |
| 7260 | Equinix Inc. | 5469031 |
| 7660 | Extra Space Storage Inc. | 1020082 |
| 9873 | Gaming & Leisure Properties Inc. | 429772 |
| 10668 | Iron Mountain Inc. | 921182 |
| 3205 | Lamar Advertising Co., Class A Shares | 424310 |
| 4085 | Millrose Properties Inc. | 124429 |
| 2458 | National Storage Affiliates Trust | 72388 |
| 23953 | Public Storage | 6576057 |
| 5193 | Rayonier Inc.(a) | 115337 |
| 3846 | SBA Communications Corp., Class A Shares | 747162 |
| 38638 | VICI Properties Inc., Class A Shares | 1113547 |
| 26450 | Weyerhaeuser Co. | 587454 |
|  | Total Specialized REITs | 29641978 |
|  | **TOTAL REAL ESTATE** | **75912099** |
|  **UTILITIES - 1.9%** | **UTILITIES - 1.9%** | **UTILITIES - 1.9%** |
|  **Electric Utilities - 1.4%** | **Electric Utilities - 1.4%** | **Electric Utilities - 1.4%** |
| 9088 | Alliant Energy Corp. | 631343 |
| 19455 | American Electric Power Co., Inc. | 2407945 |
| 11390 | Constellation Energy Corp. | 4150060 |
| 87778 | Duke Energy Corp. | 10879205 |
| 13821 | Edison International | 813919 |
| 16265 | Entergy Corp. | 1586163 |
| 8370 | Evergy Inc. | 649931 |
| 13277 | Eversource Energy | 891949 |
| 36756 | Exelon Corp. | 1731943 |
| 19623 | FirstEnergy Corp. | 936410 |
| 1900 | IDACORP Inc. | 250382 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
| **UTILITIES - 1.9% - (continued)** | **UTILITIES - 1.9% - (continued)** | **UTILITIES - 1.9% - (continued)** |
| **Electric Utilities - 1.4% - (continued)** | **Electric Utilities - 1.4% - (continued)** | **Electric Utilities - 1.4% - (continued)** |
| 161300 | NextEra Energy Inc. | $13918577 |
| 7262 | NRG Energy Inc. | 1230836 |
| 6978 | OGE Energy Corp. | 319453 |
| 79841 | PG&E Corp. | 1287037 |
| 4332 | Pinnacle West Capital Corp. | 393606 |
| 26957 | PPL Corp. | 994713 |
| 40069 | Southern Co. (The) | 3651087 |
| 21525 | Xcel Energy Inc. | 1767418 |
|  | Total Electric Utilities | 48491977 |
| **Gas Utilities - 0.0%@** | **Gas Utilities - 0.0%@** | **Gas Utilities - 0.0%@** |
| 5754 | Atmos Energy Corp. | 1014833 |
| 7585 | MDU Resources Group Inc. | 161712 |
| 3115 | National Fuel Gas Co. | 256832 |
| 7601 | UGI Corp. | 300620 |
|  | Total Gas Utilities | 1733997 |
| **Independent Power & Renewable Electricity Producers - 0.1%** | **Independent Power & Renewable Electricity Producers - 0.1%** | **Independent Power & Renewable Electricity Producers - 0.1%** |
| 26360 | AES Corp. (The) | 370621 |
| 4816 | Brookfield Renewable Corp. | 199816 |
| 1465 | Clearway Energy Inc., Class A Shares | 50103 |
| 2939 | Clearway Energy Inc., Class C Shares | 107626 |
| 1622 | Talen Energy Corp.\* | 639506 |
| 12302 | Vistra Corp. | 2200336 |
|  | Total Independent Power & Renewable Electricity Producers | 3568008 |
| **Multi-Utilities - 0.4%** | **Multi-Utilities - 0.4%** | **Multi-Utilities - 0.4%** |
| 9813 | Ameren Corp. | 1043612 |
| 23694 | CenterPoint Energy Inc. | 947286 |
| 10807 | CMS Energy Corp. | 815280 |
| 13163 | Consolidated Edison Inc. | 1321039 |
| 31035 | Dominion Energy Inc. | 1948067 |
| 7535 | DTE Energy Co. | 1032521 |
| 16703 | NiSource Inc. | 737103 |
| 18159 | Public Service Enterprise Group Inc. | 1516640 |
| 23737 | Sempra | 2248369 |
| 11614 | WEC Energy Group Inc. | 1301581 |
|  | Total Multi-Utilities | 12911498 |
| **Water Utilities - 0.0%@** | **Water Utilities - 0.0%@** | **Water Utilities - 0.0%@** |
| 7091 | American Water Works Co., Inc. | 922326 |
| 10198 | Essential Utilities Inc. | 403739 |
|  | Total Water Utilities | 1326065 |
|  | **TOTAL UTILITIES** | **68031545** |
|  | **TOTAL COMMON STOCKS**<br> (Cost - $1,806,501,950) | **3450904526** |
| **RIGHT - 0.0%@** | **RIGHT - 0.0%@** | **RIGHT - 0.0%@** |
| **COMMUNICATION SERVICES - 0.0%@** | **COMMUNICATION SERVICES - 0.0%@** | **COMMUNICATION SERVICES - 0.0%@** |
| **Diversified Telecommunication Services - 0.0%@** | **Diversified Telecommunication Services - 0.0%@** | **Diversified Telecommunication Services - 0.0%@** |
| 334 | GCI Liberty Inc., Class R Shares expires 12/17/25\*<br> (Cost - $0) | **2071** |
|  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $1,806,501,950) | **3450906597** |
| **Face<br>Amount†** |  |  |
| **SHORT-TERM INVESTMENTS (d) - 1.4%** | **SHORT-TERM INVESTMENTS (d) - 1.4%** | **SHORT-TERM INVESTMENTS (d) - 1.4%** |
| **MONEY MARKET FUND - 0.0%@** | **MONEY MARKET FUND - 0.0%@** | **MONEY MARKET FUND - 0.0%@** |
| $61463 | Invesco STIT - Government & Agency Portfolio, Institutional Class, 4.027%(e)<br> (Cost - $61,463) | **61463** |
| **TIME DEPOSITS - 1.4%** | **TIME DEPOSITS - 1.4%** | **TIME DEPOSITS - 1.4%** |
| 49514 | ANZ National Bank - London, 3.220% due 12/1/25 | 49514 |
| 29008418 | Citibank - New York, 3.220% due 12/1/25 | 29008418 |
| 18855839 | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25 | 18855839 |
| 37875 <sup>CAD</sup> | Royal Bank of Canada - Toronto, 1.080% due 12/1/25 | 27091 |
|  | **TOTAL TIME DEPOSITS**<br> (Cost - $47,940,862) | **47940862** |
|  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $48,002,325) | **48002325** |
|  | **TOTAL INVESTMENTS - 99.9%**<br> (Cost - $1,854,504,275) | **3498908922** |
|  | Other Assets in Excess of Liabilities - 0.1% | 4062563 |
|  | **TOTAL NET ASSETS - 100.0%** | $**3502971485** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

\* Non-income producing security.

---

| | |
|:---|:---|
| @ | The amount is less than 0.05%.  |

---

(a) Illiquid security.

(b) All or a portion of this security is on loan (See Note 1).

(c) Affiliated security. As of November 30, 2025, total cost and total value of affiliated security amounted
to $2,082,008 and $7,105,530, respectively.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying Security** | **Beginning<br>Value as of<br>August 31, 2025** | **Purchases<br>at Cost** | **Proceeds<br>from Sales** | **Net Realized<br>Gain/(Loss)<br>on Sales** | **Change in<br>Unrealized<br>Appreciation** | **Dividend/<br>Interest<br>Income** | **Ending<br>Value as of<br>November 30, 2025** |
| Morgan Stanley | $6187286 | $123426 | $– | $– | $794818 | $41881 | $7105530 |

---

(d) Inclusive of all short-term holdings, including investments of collateral received from securities lending
transactions. Excluding such collateral, the percentage of portfolio holdings would be 1.4%.

(e) Represents investments of collateral received from securities lending transactions.

# Security that used significant unobservable inputs to determine fair value. At November 30, 2025, the Fund held a Level 3 security with a value of $0, representing 0.0% of net assets. 

At November 30, 2025, for Morgan Stanley Pathway Large Cap Equity ETF the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross**<br> **Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net<br>Unrealized<br>Appreciation** |
|  Morgan Stanley Pathway Large Cap Equity ETF | $1854504275 | $1694159129 | $(49303701) | $1644855428 |

---

---

| | |
|:---|:---|
| **Abbreviations used in this schedule:** | **Abbreviations used in this schedule:** |
| <br> ADR | American Depositary Receipt |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Security Sector^** | | |
| Information Technology | 29.4 | % |
| Financials | 15.2 |  |
| Consumer Discretionary | 10.7 |  |
| Communication Services | 10.3 |  |
| Health Care | 10.0 |  |
| Industrials | 9.8 |  |
| Consumer Staples | 3.9 |  |
| Energy | 2.8 |  |
| Materials | 2.4 |  |
| Real Estate | 2.2 |  |
| Utilities | 1.9 |  |
| Short-Term Investments | 1.4 |  |
| Total Investments | 100.0 | %+ |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

+ Does not reflect investments of collateral received from securities lending transactions.

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Large Cap Equity ETF** 

At November 30, 2025, Morgan Stanley Pathway Large Cap Equity ETF had open exchange-traded futures contracts as described below.

The unrealized appreciation on the open contracts was as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of<br>Contracts** | **Expiration<br>Date<br>(Month/Year)** | **Notional<br>Amount** | **Value** | **Unrealized<br>Appreciation** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 E-mini Index Futures | 75 | 12/25 | $25297252 | $25723125 | $425873 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P MidCap 400 E-mini Index Futures | 6 | 12/25 | 1963732 | 1988640 | 24908 |
|  |  |  |  |  | $450781 |

---

At November 30, 2025, Morgan Stanley Pathway Large Cap Equity ETF had deposited cash of $1,665,984 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

**<u>Currency abbreviation used in this schedule:</u>**

---

| | | |
|:---|:---|:---|
| CAD | **—** | Canadian Dollar |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **COMMON STOCKS - 97.3%**  | **COMMON STOCKS - 97.3%**  | **COMMON STOCKS - 97.3%**  |
|  **COMMUNICATION SERVICES - 2.5%**  | **COMMUNICATION SERVICES - 2.5%**  | **COMMUNICATION SERVICES - 2.5%**  |
|  **Diversified Telecommunication Services - 0.3%**  | **Diversified Telecommunication Services - 0.3%**  | **Diversified Telecommunication Services - 0.3%**  |
| 368 | Anterix Inc.\* | $7566 |
| 8501 | AST SpaceMobile Inc., Class A Shares\* | 477756 |
| 382 | ATN International Inc. | 8056 |
| 997 | Bandwidth Inc., Class A Shares\* | 14197 |
| 1959 | Cogent Communications Holdings Inc. | 37378 |
| 10749 | Frontier Communications Parent Inc.\* | 407602 |
| 5412 | GCI Liberty Inc.\*# |  |
| 148 | GCI Liberty Inc., Class A Shares\* | 4934 |
| 1003 | GCI Liberty Inc., Class C Shares\* | 33420 |
| 2185 | Globalstar Inc.\* | 132739 |
| 719 | IDT Corp., Class B Shares | 35785 |
| 4346 | Iridium Communications Inc. | 71274 |
| 7854 | Liberty Global Ltd., Class A Shares\* | 89614 |
| 5737 | Liberty Global Ltd., Class C Shares\* | 65861 |
| 2029 | Liberty Latin America Ltd., Class A Shares\* | 17612 |
| 4976 | Liberty Latin America Ltd., Class C Shares\* | 43540 |
| 41905 | Lumen Technologies Inc.\* | 339850 |
| 1859 | Shenandoah Telecommunications Co. | 20319 |
| 6299 | Uniti Group Inc.\* | 40125 |
|  | Total Diversified Telecommunication Services | 1847628 |
|  **Entertainment - 0.7%**  | **Entertainment - 0.7%**  | **Entertainment - 0.7%**  |
| 17450 | AMC Entertainment Holdings Inc., Class A Shares\* | 42753 |
| 409 | Atlanta Braves Holdings Inc., Class A Shares\* | 17820 |
| 2116 | Atlanta Braves Holdings Inc., Class C Shares\* | 84217 |
| 4414 | Cinemark Holdings Inc. | 120855 |
| 2993 | Eventbrite Inc., Class A Shares\* | 7453 |
| 68594 | IMAX Corp.\* | 2544837 |
| 863 | Liberty Media Corp.-Liberty Live, Class A Shares\* | 66382 |
| 2130 | Liberty Media Corp.-Liberty Live, Class C Shares\* | 168717 |
| 149387 | Lionsgate Studios Corp.\* | 1114427 |
| 1664 | Madison Square Garden Entertainment Corp., Class A Shares\* | 82318 |
| 693 | Madison Square Garden Sports Corp., Class A Shares\* | 158025 |
| 924 | Marcus Corp. (The) | 14507 |
| 3300 | Playstudios Inc.\* | 2119 |
| 2726 | Playtika Holding Corp. | 11040 |
| 697 | Reservoir Media Inc.\* | 5311 |
| 5815 | Roku Inc., Class A Shares\* | 562834 |
| 1283 | Sphere Entertainment Co.\* | 108529 |
| 9956 | Starz Entertainment Corp.\* | 109217 |
|  | Total Entertainment | 5221361 |
|  **Interactive Media & Services - 0.2%**  | **Interactive Media & Services - 0.2%**  | **Interactive Media & Services - 0.2%**  |
| 2127 | Angi Inc., Class A Shares\* | 24290 |
| 3543 | Bumble Inc., Class A Shares\* | 12578 |
| 3737 | Cargurus Inc., Class A Shares\* | 131841 |
| 2485 | Cars.com Inc.\* | 28826 |
| 1212 | EverQuote Inc., Class A Shares\* | 31985 |
| 14529 | fuboTV Inc., Class A Shares\* | 44168 |
| 3599 | Getty Images Holdings Inc.\* | 5542 |
| 1860 | Grindr Inc.\* | 23864 |
| 3108 | IAC Inc.\* | 108998 |
| 10652 | Match Group Inc. | 354818 |
| 1244 | MediaAlpha Inc., Class A Shares\* | 15873 |
| 7146 | Nextdoor Holdings Inc.\* | 12506 |
| 2451 | QuinStreet Inc.\* | 34216 |
| 4016 | Rumble Inc.\*(a) | 27188 |
| 947 | Shutterstock Inc. | 19717 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **COMMUNICATION SERVICES - 2.5% - (continued)** | **COMMUNICATION SERVICES - 2.5% - (continued)** | **COMMUNICATION SERVICES - 2.5% - (continued)** |
|  **Interactive Media & Services - 0.2% - (continued)** | **Interactive Media & Services - 0.2% - (continued)** | **Interactive Media & Services - 0.2% - (continued)** |
| 5462 | TripAdvisor Inc.\* | $81220 |
| 3373 | TrueCar Inc.\* | 7184 |
| 7075 | Trump Media & Technology Group Corp.\* | 81646 |
| 654 | Webtoon Entertainment Inc.\* | 9097 |
| 2830 | Yelp Inc., Class A Shares\* | 81815 |
| 1812 | Ziff Davis Inc.\* | 59470 |
| 2653 | ZipRecruiter Inc., Class A Shares\* | 12602 |
| 13594 | ZoomInfo Technologies Inc., Class A Shares\* | 134852 |
|  | Total Interactive Media & Services | 1344296 |
|  **Media - 1.2%**  | **Media - 1.2%**  | **Media - 1.2%**  |
| 3912 | Advantage Solutions Inc.\* | 3715 |
| 1217 | AMC Networks Inc., Class A Shares\* | 10856 |
| 862 | Boston Omaha Corp., Class A Shares\* | 10715 |
| 244 | Cable One Inc. | 28594 |
| 123039 | Criteo SA, ADR\* | 2446015 |
| 6196 | DoubleVerify Holdings Inc.\* | 65306 |
| 5868 | EchoStar Corp., Class A Shares\* | 430066 |
| 2331 | Entravision Communications Corp., Class A Shares | 6480 |
| 2008 | EW Scripps Co. (The), Class A Shares\* | 8494 |
| 711 | Gambling.com Group Ltd.\* | 4031 |
| 5110 | Gray Media Inc. | 25141 |
| 737 | Ibotta Inc., Class A Shares\* | 17585 |
| 4494 | iHeartMedia Inc., Class A Shares\* | 17661 |
| 3575 | Integral Ad Science Holding Corp.\* | 36751 |
| 1701 | John Wiley & Sons Inc., Class A Shares | 61848 |
| 741 | Liberty Broadband Corp., Class A Shares\* | 34316 |
| 4866 | Liberty Broadband Corp., Class C Shares\* | 225247 |
| 6360 | Magnite Inc.\* | 93428 |
| 2565 | National CineMedia Inc. | 11055 |
| 6964 | New York Times Co. (The), Class A Shares | 449178 |
| 16663 | News Corp., Class A Shares | 427906 |
| 5362 | News Corp., Class B Shares | 157804 |
| 8946 | Nexstar Media Group Inc., Class A Shares | 1718885 |
| 2126 | Nexxen International Ltd., ADR\* | 13755 |
| 85496 | NIQ Global Intelligence PLC\* | 1343997 |
| 5582 | Omnicom Group Inc. | 399783 |
| 13780 | Optimum Communications Inc., Class A Shares\* | 26182 |
| 1595 | PubMatic Inc., Class A Shares\* | 14371 |
| 869 | Scholastic Corp. | 25670 |
| 1759 | Sinclair Inc. | 27722 |
| 8569 | Sirius XM Holdings Inc. | 182177 |
| 6609 | Stagwell Inc., Class A Shares\* | 35424 |
| 978 | TechTarget Inc.\* | 5115 |
| 7319 | TEGNA Inc. | 142867 |
| 1624 | Thryv Holdings Inc.\* | 9143 |
| 7620 | USA TODAY Co., Inc.\* | 38176 |
| 2259 | WideOpenWest Inc.\* | 11702 |
|  | Total Media | 8567161 |
|  **Wireless Telecommunication Services - 0.1%**  | **Wireless Telecommunication Services - 0.1%**  | **Wireless Telecommunication Services - 0.1%**  |
| 2955 | Gogo Inc.\* | 21128 |
| 4645 | Millicom International Cellular SA | 246510 |
| 602 | Spok Holdings Inc. | 7995 |
| 4400 | Telephone & Data Systems Inc. | 177188 |
|  | Total Wireless Telecommunication Services | 452821 |
|  | **TOTAL COMMUNICATION SERVICES** | **17433267** |
|  **CONSUMER DISCRETIONARY - 8.8%**  | **CONSUMER DISCRETIONARY - 8.8%**  | **CONSUMER DISCRETIONARY - 8.8%**  |
|  **Automobile Components - 1.0%**  | **Automobile Components - 1.0%**  | **Automobile Components - 1.0%**  |
| 3745 | Adient PLC\* | 72878 |
| 4445 | American Axle & Manufacturing Holdings Inc.\* | 29204 |
| 44338 | BorgWarner Inc. | 1909194 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** |
|  **Automobile Components - 1.0% - (continued)** | **Automobile Components - 1.0% - (continued)** | **Automobile Components - 1.0% - (continued)** |
| 593 | Cooper-Standard Holdings Inc.\* | $18531 |
| 6122 | Dana Inc. | 137194 |
| 14244 | Dorman Products Inc.\* | 1884054 |
| 1945 | Fox Factory Holding Corp.\* | 28766 |
| 6145 | Garrett Motion Inc. | 101577 |
| 10111 | Gentex Corp. | 230834 |
| 1451 | Gentherm Inc.\* | 51757 |
| 10966 | Goodyear Tire & Rubber Co. (The)\* | 94966 |
| 2083 | Holley Inc.\* | 8874 |
| 1046 | LCI Industries | 118899 |
| 12491 | Lear Corp. | 1341034 |
| 1431 | Patrick Industries Inc. | 154863 |
| 1740 | Phinia Inc. | 94117 |
| 18593 | QuantumScape Corp., Class A Shares\* | 227206 |
| 5627 | Solid Power Inc.\* | 29260 |
| 836 | Standard Motor Products Inc. | 31383 |
| 1261 | Visteon Corp. | 130198 |
| 1212 | XPEL Inc.\* | 56334 |
|  | Total Automobile Components | 6751123 |
|  **Automobiles - 0.2%**  | **Automobiles - 0.2%**  | **Automobiles - 0.2%**  |
| 4900 | Harley-Davidson Inc. | 120001 |
| 5756 | Lucid Group Inc., Class A Shares\*(a) | 78454 |
| 34396 | Rivian Automotive Inc., Class A Shares\* | 579917 |
| 2270 | Thor Industries Inc. | 239757 |
| 1288 | Winnebago Industries Inc. | 46613 |
|  | Total Automobiles | 1064742 |
|  **Broadline Retail - 0.2%**  | **Broadline Retail - 0.2%**  | **Broadline Retail - 0.2%**  |
| 140 | Dillard's Inc., Class A Shares | 93808 |
| 4334 | Etsy Inc.\* | 234989 |
| 1215 | Groupon Inc., Class A Shares\* | 20546 |
| 5057 | Kohl's Corp. | 124352 |
| 12066 | Macy's Inc. | 269796 |
| 2705 | Ollie's Bargain Outlet Holdings Inc.\* | 333013 |
| 33282 | Pattern Group Inc., Class A Shares\* | 483920 |
|  | Total Broadline Retail | 1560424 |
|  **Distributors - 0.1%**  | **Distributors - 0.1%**  | **Distributors - 0.1%**  |
| 652 | A-Mark Precious Metals Inc. | 18719 |
| 869 | GigaCloud Technology Inc., Class A Shares\* | 32240 |
| 11242 | LKQ Corp. | 333775 |
| 1562 | Pool Corp. | 380503 |
| 209 | Weyco Group Inc. | 6262 |
|  | Total Distributors | 771499 |
|  **Diversified Consumer Services - 0.9%**  | **Diversified Consumer Services - 0.9%**  | **Diversified Consumer Services - 0.9%**  |
| 204167 | ADT Inc. | 1684378 |
| 1619 | Adtalem Global Education Inc.\* | 149855 |
| 581 | American Public Education Inc.\* | 20228 |
| 2524 | Bright Horizons Family Solutions Inc.\* | 259366 |
| 830 | Carriage Services Inc., Class A Shares | 35939 |
| 6131 | Coursera Inc.\* | 48741 |
| 2666 | Driven Brands Holdings Inc.\* | 38950 |
| 1660 | Duolingo Inc., Class A Shares\* | 317741 |
| 1392 | European Wax Center Inc., Class A Shares\* | 5387 |
| 3224 | Frontdoor Inc.\* | 173870 |
| 140 | Graham Holdings Co., Class B Shares | 154910 |
| 1250 | Grand Canyon Education Inc.\* | 197175 |
| 5738 | H&R Block Inc. | 241685 |
| 1046 | KinderCare Learning Cos Inc.\* | 4163 |
| 60885 | Laureate Education Inc., Class A Shares\* | 1881346 |
| 1290 | Lincoln Educational Services Corp.\* | 26548 |
| 1140 | Matthews International Corp., Class A Shares | 27976 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** |
|  **Diversified Consumer Services - 0.9% - (continued)** | **Diversified Consumer Services - 0.9% - (continued)** | **Diversified Consumer Services - 0.9% - (continued)** |
| 4478 | Mister Car Wash Inc.\* | $23913 |
| 2768 | Nerdy Inc.\* | 3709 |
| 4240 | OneSpaWorld Holdings Ltd. | 86581 |
| 2713 | Perdoceo Education Corp. | 75855 |
| 6063 | Service Corp. International | 481584 |
| 1119 | Strategic Education Inc. | 87304 |
| 1871 | Stride Inc.\* | 118865 |
| 3512 | Udemy Inc.\* | 17841 |
| 2070 | Universal Technical Institute Inc.\* | 47651 |
|  | Total Diversified Consumer Services | 6211561 |
|  **Hotels, Restaurants & Leisure - 1.7%**  | **Hotels, Restaurants & Leisure - 1.7%**  | **Hotels, Restaurants & Leisure - 1.7%**  |
| 2476 | Accel Entertainment Inc., Class A Shares\* | 25354 |
| 11599 | Aramark | 431135 |
| 26 | Biglari Holdings Inc., Class B Shares\* | 7642 |
| 1067 | BJ's Restaurants Inc.\* | 40919 |
| 3877 | Bloomin' Brands Inc. | 27527 |
| 2442 | Boyd Gaming Corp. | 203419 |
| 153677 | Brightstar Lottery PLC | 2403508 |
| 1946 | Brinker International Inc.\* | 299275 |
| 9319 | Caesars Entertainment Inc.\* | 216853 |
| 4480 | Cava Group Inc.\* | 219027 |
| 2124 | Cheesecake Factory Inc. (The) | 101230 |
| 1170 | Choice Hotels International Inc. | 106774 |
| 2718 | Churchill Downs Inc. | 296507 |
| 999 | Cracker Barrel Old Country Store Inc. | 28861 |
| 1210 | Dave & Buster's Entertainment Inc.\* | 21163 |
| 1906 | Denny's Corp.\* | 11760 |
| 1006 | Dine Brands Global Inc. | 31438 |
| 5192 | Dutch Bros Inc., Class A Shares\* | 304303 |
| 962 | El Pollo Loco Holdings Inc.\* | 10495 |
| 1501 | First Watch Restaurant Group Inc.\* | 27859 |
| 181301 | Genius Sports Ltd.\* | 1825701 |
| 4814 | Global Business Travel Group I\* | 37116 |
| 752 | Golden Entertainment Inc. | 22575 |
| 2481 | Hilton Grand Vacations Inc.\* | 106261 |
| 1783 | Hyatt Hotels Corp., Class A Shares | 293107 |
| 771 | Inspired Entertainment Inc.\* | 6338 |
| 736 | Jack in the Box Inc. | 14507 |
| 3158 | Krispy Kreme Inc. | 13200 |
| 358 | Kura Sushi USA Inc., Class A Shares\* | 17589 |
| 5741 | Life Time Group Holdings Inc.\* | 160289 |
| 1374 | Lindblad Expeditions Holdings Inc.\* | 16529 |
| 1301 | Marriott Vacations Worldwide Corp. | 71035 |
| 8843 | MGM Resorts International\* | 312069 |
| 565 | Monarch Casino & Resort Inc. | 54568 |
| 79 | Nathan's Famous Inc. | 7289 |
| 19570 | Norwegian Cruise Line Holdings Ltd.\* | 361262 |
| 1518 | Papa John's International Inc. | 63862 |
| 6706 | Penn Entertainment Inc.\* | 99517 |
| 3713 | Planet Fitness Inc., Class A Shares\* | 415745 |
| 2153 | Portillo's Inc., Class A Shares\* | 11239 |
| 764 | Pursuit Attractions & Hospitality Inc.\* | 26228 |
| 318 | RCI Hospitality Holdings Inc. | 7746 |
| 2049 | Red Rock Resorts Inc., Class A Shares | 120010 |
| 4164 | Rush Street Interactive Inc.\* | 76784 |
| 18221 | Sabre Corp.\* | 29336 |
| 2545 | Serve Robotics Inc.\* | 26112 |
| 1686 | Shake Shack Inc., Class A Shares\* | 147491 |
| 4350 | Six Flags Entertainment Corp.\* | 66033 |
| 6982 | Super Group SGHC Ltd. | 75615 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** |
|  **Hotels, Restaurants & Leisure - 1.7% - (continued)** | **Hotels, Restaurants & Leisure - 1.7% - (continued)** | **Hotels, Restaurants & Leisure - 1.7% - (continued)** |
| 4379 | Sweetgreen Inc., Class A Shares\* | $28420 |
| 1370 | Target Hospitality Corp.\* | 10686 |
| 2914 | Texas Roadhouse Inc., Class A Shares | 510678 |
| 2829 | Travel + Leisure Co. | 194013 |
| 14055 | United Parks & Resorts Inc.\* | 507245 |
| 1550 | Vail Resorts Inc. | 217326 |
| 6441 | Wendy's Co. (The) | 54426 |
| 1239 | Wingstop Inc. | 328000 |
| 3227 | Wyndham Hotels & Resorts Inc. | 236216 |
| 3602 | Wynn Resorts Ltd. | 463505 |
| 901 | Xponential Fitness Inc., Class A Shares\* | 5983 |
|  | Total Hotels, Restaurants & Leisure | 11856700 |
|  **Household Durables - 1.7%**  | **Household Durables - 1.7%**  | **Household Durables - 1.7%**  |
| 1455 | Beazer Homes USA Inc.\* | 33276 |
| 328 | Cavco Industries Inc.\* | 195373 |
| 1185 | Century Communities Inc. | 77369 |
| 2576 | Champion Homes Inc.\* | 221124 |
| 1705 | Cricut Inc., Class A Shares | 8082 |
| 1378 | Dream Finders Homes Inc., Class A Shares\* | 27243 |
| 1105 | Ethan Allen Interiors Inc. | 26122 |
| 214 | Flexsteel Industries Inc. | 8459 |
| 1330 | Green Brick Partners Inc.\* | 90280 |
| 417 | Hamilton Beach Brands Holding Co., Class A Shares | 6651 |
| 892 | Helen of Troy Ltd.\* | 16903 |
| 189 | Hovnanian Enterprises Inc., Class A Shares\* | 24869 |
| 1023 | Installed Building Products Inc. | 274184 |
| 2860 | KB Home | 183984 |
| 1821 | La-Z-Boy Inc. | 70873 |
| 368 | Legacy Housing Corp.\* | 7334 |
| 6080 | Leggett & Platt Inc. | 62381 |
| 977 | LGI Homes Inc.\* | 50824 |
| 551 | Lovesac Co. (The)\* | 7907 |
| 1149 | M/I Homes Inc.\* | 158091 |
| 3124 | Meritage Homes Corp. | 228302 |
| 2248 | Mohawk Industries Inc.\* | 260543 |
| 17983 | Newell Brands Inc. | 65638 |
| 3623 | SharkNinja Inc.\* | 353496 |
| 29540 | Somnigroup International Inc. | 2703501 |
| 5708 | Sonos Inc.\* | 105940 |
| 15982 | Taylor Morrison Home Corp., Class A Shares\* | 1001912 |
| 4257 | Toll Brothers Inc. | 595256 |
| 8663 | TopBuild Corp.\* | 3920007 |
| 3105 | Traeger Inc.\* | 2829 |
| 3591 | Tri Pointe Homes Inc.\* | 122525 |
| 13173 | Whirlpool Corp.(a) | 1018932 |
|  | Total Household Durables | 11930210 |
|  **Leisure Products - 0.4%**  | **Leisure Products - 0.4%**  | **Leisure Products - 0.4%**  |
| 1195 | Acushnet Holdings Corp. | 100499 |
| 19569 | Brunswick Corp. | 1293707 |
| 970 | Clarus Corp. | 3473 |
| 445 | Escalade Inc. | 5901 |
| 1150 | Funko Inc., Class A Shares\* | 3634 |
| 5878 | Hasbro Inc. | 485523 |
| 271 | JAKKS Pacific Inc. | 4452 |
| 182 | Johnson Outdoors Inc., Class A Shares | 7460 |
| 1748 | Latham Group Inc.\* | 12498 |
| 752 | Malibu Boats Inc., Class A Shares\* | 21349 |
| 691 | MasterCraft Boat Holdings Inc.\* | 12770 |
| 14412 | Mattel Inc.\* | 304381 |
| 16356 | Peloton Interactive Inc., Class A Shares\* | 111057 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** |
|  **Leisure Products - 0.4% - (continued)** | **Leisure Products - 0.4% - (continued)** | **Leisure Products - 0.4% - (continued)** |
| 2334 | Polaris Inc. | $154884 |
| 1808 | Smith & Wesson Brands Inc. | 15748 |
| 758 | Sturm Ruger & Co., Inc. | 22831 |
| 6437 | Topgolf Callaway Brands Corp.\* | 82909 |
| 3745 | YETI Holdings Inc.\* | 155343 |
|  | Total Leisure Products | 2798419 |
|  **Specialty Retail - 1.6%**  | **Specialty Retail - 1.6%**  | **Specialty Retail - 1.6%**  |
| 932 | 1-800-Flowers.com Inc., Class A Shares\* | 3178 |
| 2109 | Abercrombie & Fitch Co., Class A Shares\* | 206408 |
| 2935 | Academy Sports & Outdoors Inc. | 141614 |
| 2703 | Advance Auto Parts Inc. | 140232 |
| 7222 | American Eagle Outfitters Inc. | 147329 |
| 370 | America's Car-Mart Inc.\* | 8010 |
| 1871 | Arhaus Inc., Class A Shares\* | 19346 |
| 4597 | Arko Corp. | 21882 |
| 872 | Asbury Automotive Group Inc.\* | 202801 |
| 6069 | AutoNation Inc.\* | 1282319 |
| 5855 | BARK Inc.\* | 4186 |
| 61585 | Bath & Body Works Inc. | 1072195 |
| 2025 | Bed Bath & Beyond Inc.\* | 12190 |
| 1371 | Boot Barn Holdings Inc.\* | 265727 |
| 1398 | Buckle Inc. (The) | 78959 |
| 501 | Build-A-Bear Workshop Inc. | 26603 |
| 21196 | Caleres Inc. | 248205 |
| 2946 | Camping World Holdings Inc., Class A Shares | 32966 |
| 6518 | CarMax Inc.\* | 251986 |
| 307 | Citi Trends Inc.\* | 13904 |
| 1844 | Designer Brands Inc., Class A Shares | 8003 |
| 2787 | Dick's Sporting Goods Inc. | 575711 |
| 6611 | EVgo Inc., Class A Shares\* | 21420 |
| 2363 | Five Below Inc.\* | 389635 |
| 4669 | Floor & Decor Holdings Inc., Class A Shares\* | 297042 |
| 18268 | GameStop Corp., Class A Shares\* | 411578 |
| 9956 | Gap Inc. (The) | 269509 |
| 395 | Genesco Inc.\* | 14161 |
| 2360 | Group 1 Automotive Inc. | 946454 |
| 560 | Haverty Furniture Cos., Inc. | 13328 |
| 264 | J Jill Inc. | 4166 |
| 617 | Lands' End Inc.\* | 9742 |
| 1120 | Lithia Motors Inc., Class A Shares | 357101 |
| 808 | MarineMax Inc.\* | 18891 |
| 1104 | Monro Inc. | 20656 |
| 781 | Murphy USA Inc. | 300740 |
| 3546 | National Vision Holdings Inc.\* | 102302 |
| 21473 | ODP Corp. (The)\* | 600600 |
| 338 | OneWater Marine Inc., Class A Shares\* | 4107 |
| 4531 | Outdoor Holding Co.\* | 8337 |
| 806 | Penske Automotive Group Inc. | 130346 |
| 3269 | Petco Health & Wellness Co., Inc., Class A Shares\* | 10461 |
| 3897 | RealReal Inc. (The)\* | 56429 |
| 1515 | Revolve Group Inc., Class A Shares\* | 36618 |
| 5304 | RH\* | 835857 |
| 4697 | Sally Beauty Holdings Inc.\* | 74494 |
| 715 | Shoe Carnival Inc. | 11812 |
| 1769 | Signet Jewelers Ltd. | 177183 |
| 800 | Sleep Number Corp.\* | 4080 |
| 675 | Sonic Automotive Inc., Class A Shares | 42545 |
| 3632 | Stitch Fix Inc., Class A Shares\* | 15436 |
| 4700 | ThredUp Inc., Class A Shares\* | 35344 |
| 958 | Tile Shop Holdings Inc.\* | 6217 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** | **CONSUMER DISCRETIONARY - 8.8% - (continued)** |
|  **Specialty Retail - 1.6% - (continued)** | **Specialty Retail - 1.6% - (continued)** | **Specialty Retail - 1.6% - (continued)** |
| 2471 | Upbound Group Inc. | $44280 |
| 2719 | Urban Outfitters Inc.\* | 201396 |
| 5495 | Valvoline Inc.\* | 172048 |
| 3164 | Victoria's Secret & Co.\* | 130768 |
| 4297 | Warby Parker Inc., Class A Shares\* | 85124 |
| 4205 | Wayfair Inc., Class A Shares\* | 465914 |
| 125 | Winmark Corp. | 51376 |
| 661 | Zumiez Inc.\* | 17186 |
|  | Total Specialty Retail | 11158437 |
|  **Textiles, Apparel & Luxury Goods - 1.0%**  | **Textiles, Apparel & Luxury Goods - 1.0%**  | **Textiles, Apparel & Luxury Goods - 1.0%**  |
| 6780 | Amer Sports Inc.\* | 251741 |
| 64876 | Birkenstock Holding PLC\* | 2811077 |
| 5171 | Capri Holdings Ltd.\* | 131188 |
| 1594 | Carter's Inc. | 50865 |
| 1074 | Columbia Sportswear Co. | 57684 |
| 2407 | Crocs Inc.\* | 204547 |
| 3378 | Ermenegildo Zegna NV | 36043 |
| 4601 | Figs Inc., Class A Shares\* | 45044 |
| 1761 | G-III Apparel Group Ltd.\* | 51333 |
| 2373 | Kontoor Brands Inc. | 176433 |
| 555 | Movado Group Inc. | 11622 |
| 746 | Oxford Industries Inc. | 28467 |
| 2136 | PVH Corp. | 181047 |
| 1669 | Ralph Lauren Corp., Class A Shares | 613074 |
| 279 | Rocky Brands Inc. | 8473 |
| 3111 | Steven Madden Ltd. | 129978 |
| 481 | Superior Group of Cos., Inc. | 4675 |
| 9142 | Tapestry Inc. | 999038 |
| 8509 | Under Armour Inc., Class A Shares\* | 39312 |
| 98066 | Under Armour Inc., Class C Shares\* | 434432 |
| 15604 | V.F. Corp. | 273070 |
| 3456 | Wolverine World Wide Inc. | 56022 |
|  | Total Textiles, Apparel & Luxury Goods | 6595165 |
|  | **TOTAL CONSUMER DISCRETIONARY** | **60698280** |
|  **CONSUMER STAPLES - 2.5%**  | **CONSUMER STAPLES - 2.5%**  | **CONSUMER STAPLES - 2.5%**  |
|  **Beverages - 0.4%**  | **Beverages - 0.4%**  | **Beverages - 0.4%**  |
| 345 | Boston Beer Co., Inc. (The), Class A Shares\* | 67206 |
| 7214 | Celsius Holdings Inc.\* | 295341 |
| 2295 | Coca-Cola Consolidated Inc. | 373970 |
| 530 | MGP Ingredients Inc. | 12089 |
| 993 | National Beverage Corp.\* | 33822 |
| 11527 | Primo Brands Corp., Class A Shares | 180859 |
| 32281 | Vita Coco Co., Inc. (The)\* | 1724128 |
|  | Total Beverages | 2687415 |
|  **Consumer Staples Distribution & Retail - 1.2%**  | **Consumer Staples Distribution & Retail - 1.2%**  | **Consumer Staples Distribution & Retail - 1.2%**  |
| 17675 | Albertsons Cos., Inc., Class A Shares | 323983 |
| 1483 | Andersons Inc. (The) | 76375 |
| 25465 | BJ's Wholesale Club Holdings Inc.\* | 2272242 |
| 1624 | Casey's General Stores Inc. | 926427 |
| 1589 | Chefs' Warehouse Inc. (The)\* | 97437 |
| 14310 | Dollar Tree Inc.\* | 1585691 |
| 4097 | Grocery Outlet Holding Corp.\* | 45600 |
| 1410 | HF Foods Group Inc.\* | 3539 |
| 648 | Ingles Markets Inc., Class A Shares | 49844 |
| 7452 | Maplebear Inc.\* | 313059 |
| 679 | Natural Grocers by Vitamin Cottage Inc. | 18842 |
| 6712 | Performance Food Group Co.\* | 651534 |
| 1134 | PriceSmart Inc. | 139595 |
| 4286 | Sprouts Farmers Market Inc.\* | 359210 |
| 2473 | United Natural Foods Inc.\* | 92268 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER STAPLES - 2.5% - (continued)** | **CONSUMER STAPLES - 2.5% - (continued)** | **CONSUMER STAPLES - 2.5% - (continued)** |
|  **Consumer Staples Distribution & Retail - 1.2% - (continued)** | **Consumer Staples Distribution & Retail - 1.2% - (continued)** | **Consumer Staples Distribution & Retail - 1.2% - (continued)** |
| 10072 | US Foods Holding Corp.\* | $792364 |
| 334 | Village Super Market Inc., Class A Shares | 11543 |
| 724 | Weis Markets Inc. | 47038 |
|  | Total Consumer Staples Distribution & Retail | 7806591 |
|  **Food Products - 0.6%**  | **Food Products - 0.6%**  | **Food Products - 0.6%**  |
| 284 | Alico Inc. | 9882 |
| 2868 | B&G Foods Inc. | 13221 |
| 2297 | BRC Inc., Class A Shares\* | 2917 |
| 610 | Calavo Growers Inc. | 12499 |
| 1958 | Cal-Maine Foods Inc. | 163141 |
| 7028 | Darling Ingredients Inc.\* | 257295 |
| 2745 | Dole PLC | 39748 |
| 8289 | Flowers Foods Inc. | 88941 |
| 1530 | Fresh Del Monte Produce Inc. | 55294 |
| 2202 | Freshpet Inc.\* | 125866 |
| 59318 | Hain Celestial Group Inc. (The)\* | 65250 |
| 2808 | Ingredion Inc. | 301972 |
| 635 | J&J Snack Foods Corp. | 58642 |
| 421 | John B Sanfilippo & Son Inc. | 30577 |
| 5907 | Lamb Weston Holdings Inc. | 348867 |
| 163 | Lifeway Foods Inc.\* | 4040 |
| 630 | Limoneira Co. | 8751 |
| 1209 | Mama's Creations Inc.\* | 13686 |
| 870 | Marzetti Co. (The) | 145238 |
| 1596 | Mission Produce Inc.\* | 19184 |
| 76285 | Nomad Foods Ltd. | 932966 |
| 1852 | Pilgrim's Pride Corp. | 70450 |
| 2201 | Post Holdings Inc.\* | 228970 |
| 10 | Seaboard Corp. | 46796 |
| 167 | Seneca Foods Corp., Class A Shares\* | 20199 |
| 3938 | Simply Good Foods Co. (The)\* | 77500 |
| 2014 | Smithfield Foods Inc. | 43522 |
| 3519 | SunOpta Inc.\* | 13231 |
| 954 | Tootsie Roll Industries Inc. | 36595 |
| 31346 | TreeHouse Foods Inc.\* | 748856 |
| 2930 | Utz Brands Inc. | 28392 |
| 1383 | Vital Farms Inc.\* | 45224 |
| 1319 | Westrock Coffee Co.\* | 5738 |
|  | Total Food Products | 4063450 |
|  **Household Products - 0.2%**  | **Household Products - 0.2%**  | **Household Products - 0.2%**  |
| 448 | Central Garden & Pet Co.\* | 15304 |
| 2228 | Central Garden & Pet Co., Class A Shares\* | 68934 |
| 2742 | Energizer Holdings Inc. | 49987 |
| 400 | Oil-Dri Corp. of America | 21772 |
| 2451 | Reynolds Consumer Products Inc. | 61226 |
| 1050 | Spectrum Brands Holdings Inc. | 62317 |
| 6481 | WD-40 Co. | 1268980 |
|  | Total Household Products | 1548520 |
|  **Personal Care Products - 0.1%**  | **Personal Care Products - 0.1%**  | **Personal Care Products - 0.1%**  |
| 3042 | Beauty Health Co. (The)\* | 4502 |
| 5596 | BellRing Brands Inc.\* | 172860 |
| 16031 | Coty Inc., Class A Shares\* | 53223 |
| 2085 | Edgewell Personal Care Co. | 37238 |
| 2398 | elf Beauty Inc.\* | 182656 |
| 4000 | Herbalife Ltd.\* | 50920 |
| 3123 | Honest Co., Inc. (The)\* | 8401 |
| 770 | Interparfums Inc. | 62578 |
| 412 | Medifast Inc.\* | 4520 |
| 462 | Nature's Sunshine Products Inc.\* | 9508 |
| 1812 | Nu Skin Enterprises Inc., Class A Shares | 17921 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **CONSUMER STAPLES - 2.5% - (continued)** | **CONSUMER STAPLES - 2.5% - (continued)** | **CONSUMER STAPLES - 2.5% - (continued)** |
|  **Personal Care Products - 0.1% - (continued)** | **Personal Care Products - 0.1% - (continued)** | **Personal Care Products - 0.1% - (continued)** |
| 5174 | Olaplex Holdings Inc.\* | $5898 |
| 416 | USANA Health Sciences Inc.\* | 8257 |
|  | Total Personal Care Products | 618482 |
|  **Tobacco - 0.0%@** | **Tobacco - 0.0%@** | **Tobacco - 0.0%@** |
| 2958 | Ispire Technology Inc.\* | 7218 |
| 772 | Turning Point Brands Inc. | 77323 |
| 1051 | Universal Corp. | 55451 |
|  | Total Tobacco | 139992 |
|  | **TOTAL CONSUMER STAPLES** | **16864450** |
|  **ENERGY - 3.9%**  | **ENERGY - 3.9%**  | **ENERGY - 3.9%**  |
|  **Energy Equipment & Services - 1.6%**  | **Energy Equipment & Services - 1.6%**  | **Energy Equipment & Services - 1.6%**  |
| 7135 | Archrock Inc. | 175093 |
| 2951 | Atlas Energy Solutions Inc., Class A Shares | 25438 |
| 8774 | Borr Drilling Ltd.\* | 29042 |
| 1190 | Bristow Group Inc.\* | 44637 |
| 3029 | Cactus Inc., Class A Shares | 130005 |
| 1752 | Core Laboratories Inc. | 26455 |
| 699 | DMC Global Inc.\* | 4341 |
| 4363 | Expro Group Holdings NV\* | 60864 |
| 767 | Flowco Holdings Inc., Class A Shares | 13016 |
| 302 | Forum Energy Technologies Inc.\* | 9483 |
| 6400 | Helix Energy Solutions Group Inc.\* | 42624 |
| 4282 | Helmerich & Payne Inc. | 119468 |
| 18992 | Innovex International Inc.\* | 418204 |
| 6678 | ION Geophysical Corp.\*(b)# |  |
| 3064 | Kodiak Gas Services Inc. | 107853 |
| 6700 | Liberty Energy Inc., Class A Shares | 119126 |
| 720 | Nabors Industries Ltd.\* | 35906 |
| 3226 | National Energy Services Reunited Corp.\* | 44970 |
| 395 | Natural Gas Services Group Inc. | 12233 |
| 5451 | Noble Corp. PLC | 166910 |
| 16943 | NOV Inc. | 260244 |
| 4472 | Oceaneering International Inc.\* | 109117 |
| 2491 | Oil States International Inc.\* | 15693 |
| 77300 | Patterson-UTI Energy Inc. | 449113 |
| 852 | ProFrac Holding Corp., Class A Shares\* | 3016 |
| 3269 | ProPetro Holding Corp.\* | 31284 |
| 585 | Ranger Energy Services Inc., Class A Shares | 7903 |
| 3435 | RPC Inc. | 18274 |
| 769 | SEACOR Marine Holdings Inc.\* | 5475 |
| 3019 | Seadrill Ltd.\* | 92140 |
| 4498 | Select Water Solutions Inc., Class A Shares | 45430 |
| 1448 | Solaris Energy Infrastructure Inc., Class A Shares | 69345 |
| 127971 | TechnipFMC PLC | 5791967 |
| 214891 | TETRA Technologies Inc.\* | 1669703 |
| 2190 | Tidewater Inc.\* | 118304 |
| 31438 | Transocean Ltd.\* | 138642 |
| 2796 | Valaris Ltd.\* | 157722 |
| 3130 | Weatherford International PLC | 234124 |
|  | Total Energy Equipment & Services | 10803164 |
|  **Oil, Gas & Consumable Fuels - 2.3%**  | **Oil, Gas & Consumable Fuels - 2.3%**  | **Oil, Gas & Consumable Fuels - 2.3%**  |
| 14986 | Antero Midstream Corp. | 269898 |
| 12749 | Antero Resources Corp.\* | 464446 |
| 15686 | APA Corp. | 391679 |
| 1636 | Ardmore Shipping Corp. | 20008 |
| 3004 | Berry Corp. | 10184 |
| 556 | BKV Corp.\* | 15351 |
| 2961 | California Resources Corp. | 141477 |
| 3144 | Calumet Inc.\* | 60679 |
| 670 | Centrus Energy Corp., Class A Shares\* | 173731 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **ENERGY - 3.9% - (continued)** | **ENERGY - 3.9% - (continued)** | **ENERGY - 3.9% - (continued)** |
|  **Oil, Gas & Consumable Fuels - 2.3% - (continued)** | **Oil, Gas & Consumable Fuels - 2.3% - (continued)** | **Oil, Gas & Consumable Fuels - 2.3% - (continued)** |
| 2463 | Chord Energy Corp. | $231177 |
| 4168 | Civitas Resources Inc. | 122414 |
| 6419 | Clean Energy Fuels Corp.\* | 13993 |
| 46003 | CNX Resources Corp.\* | 1786757 |
| 3409 | Comstock Resources Inc.\* | 91566 |
| 2282 | Core Natural Resources Inc. | 182560 |
| 8326 | Crescent Energy Co., Class A Shares | 78514 |
| 1379 | CVR Energy Inc. | 47617 |
| 2629 | Delek US Holdings Inc. | 101663 |
| 35416 | Devon Energy Corp. | 1312517 |
| 5653 | DHT Holdings Inc. | 73659 |
| 2432 | Diversified Energy Co. | 36577 |
| 1683 | Dorian LPG Ltd. | 41705 |
| 4434 | DT Midstream Inc. | 538554 |
| 7149 | Encore Energy Corp.\* | 19517 |
| 9525 | Energy Fuels Inc.\* | 137160 |
| 1066 | Evolution Petroleum Corp. | 4189 |
| 1267 | Excelerate Energy Inc., Class A Shares | 35577 |
| 1152 | FLEX LNG Ltd. | 29226 |
| 1005 | FutureFuel Corp. | 3316 |
| 4407 | Golar LNG Ltd. | 162839 |
| 1949 | Granite Ridge Resources Inc. | 10037 |
| 2112 | Green Plains Inc.\* | 21817 |
| 696 | Gulfport Energy Corp.\* | 154853 |
| 22372 | HF Sinclair Corp. | 1183703 |
| 455 | HighPeak Energy Inc. | 3053 |
| 529 | Infinity Natural Resources Inc., Class A Shares\* | 7004 |
| 1726 | International Seaways Inc. | 91426 |
| 1845 | Kinetik Holdings Inc., Class A Shares | 63985 |
| 21548 | Kosmos Energy Ltd.\* | 24134 |
| 57799 | Magnolia Oil & Gas Corp., Class A Shares | 1337469 |
| 31421 | Matador Resources Co. | 1332250 |
| 5906 | Murphy Oil Corp. | 189405 |
| 101 | NACCO Industries Inc., Class A Shares | 4872 |
| 1753 | Navigator Holdings Ltd. | 31361 |
| 8812 | New Fortress Energy Inc., Class A Shares\* | 10751 |
| 6331 | NextDecade Corp.\* | 38682 |
| 8222 | Nordic American Tankers Ltd. | 29928 |
| 38078 | Northern Oil & Gas Inc. | 852566 |
| 11134 | Ovintiv Inc. | 456049 |
| 2361 | Par Pacific Holdings Inc.\* | 107780 |
| 3895 | PBF Energy Inc., Class A Shares | 134300 |
| 5366 | Peabody Energy Corp. | 146170 |
| 105273 | Permian Resources Corp., Class A Shares | 1525406 |
| 10542 | Range Resources Corp. | 416304 |
| 1462 | REX American Resources Corp.\* | 48231 |
| 422 | Riley Exploration Permian Inc. | 11559 |
| 3181 | Sable Offshore Corp.\* | 13901 |
| 1525 | SandRidge Energy Inc. | 21564 |
| 1895 | Scorpio Tankers Inc. | 108640 |
| 5641 | SFL Corp., Ltd., Class B Shares | 46425 |
| 5281 | SM Energy Co. | 100603 |
| 6507 | Talos Energy Inc.\* | 74570 |
| 2973 | Teekay Corp., Ltd. | 28868 |
| 1075 | Teekay Tankers Ltd., Class A Shares | 61995 |
| 18828 | Uranium Energy Corp.\* | 231020 |
| 4067 | VAALCO Energy Inc. | 14560 |
| 7601 | Viper Energy Inc., Class A Shares | 277665 |
| 1070 | Vital Energy Inc.\* | 19185 |
| 1234 | Vitesse Energy Inc. | 26111 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **ENERGY - 3.9% - (continued)** | **ENERGY - 3.9% - (continued)** | **ENERGY - 3.9% - (continued)** |
|  **Oil, Gas & Consumable Fuels - 2.3% - (continued)** | **Oil, Gas & Consumable Fuels - 2.3% - (continued)** | **Oil, Gas & Consumable Fuels - 2.3% - (continued)** |
| 3524 | W&T Offshore Inc. | $6237 |
| 2493 | World Kinect Corp. | 57788 |
|  | Total Oil, Gas & Consumable Fuels | 15920777 |
|  | **TOTAL ENERGY** | **26723941** |
|  **FINANCIALS - 13.7%**  | **FINANCIALS - 13.7%**  | **FINANCIALS - 13.7%**  |
|  **Banks - 6.0%**  | **Banks - 6.0%**  | **Banks - 6.0%**  |
| 1210 | 1st Source Corp. | 75552 |
| 385 | ACNB Corp. | 18634 |
| 1235 | Amalgamated Financial Corp. | 36247 |
| 1512 | Amerant Bancorp Inc., Class A Shares | 28441 |
| 2861 | Ameris Bancorp | 216749 |
| 326 | Ames National Corp. | 7113 |
| 663 | Arrow Financial Corp. | 19989 |
| 7500 | Associated Banc-Corp. | 197175 |
| 6208 | Atlantic Union Bankshares Corp. | 210017 |
| 2333 | Axos Financial Inc.\* | 191726 |
| 76279 | Banc of California Inc. | 1406585 |
| 902 | BancFirst Corp. | 99978 |
| 1972 | Bancorp Inc. (The)\* | 126346 |
| 432 | Bank First Corp. | 53883 |
| 1669 | Bank of Hawaii Corp. | 109386 |
| 650 | Bank of Marin Bancorp | 17586 |
| 1837 | Bank of NT Butterfield & Son Ltd. (The) | 85310 |
| 4854 | Bank OZK | 223381 |
| 194 | Bank7 Corp. | 8037 |
| 3184 | BankUnited Inc. | 137581 |
| 327 | Bankwell Financial Group Inc. | 15009 |
| 1483 | Banner Corp. | 93147 |
| 1023 | Bar Harbor Bankshares | 30526 |
| 427 | Baycom Corp. | 12460 |
| 798 | BCB Bancorp Inc. | 6376 |
| 3707 | Beacon Financial Corp. | 94862 |
| 936 | Blue Foundry Bancorp\* | 10633 |
| 1118 | BOK Financial Corp. | 125909 |
| 835 | Bridgewater Bancshares Inc.\* | 14454 |
| 516 | Burke & Herbert Financial Services Corp. | 33664 |
| 1694 | Business First Bancshares Inc. | 44078 |
| 1350 | Byline Bancorp Inc. | 37692 |
| 5119 | Cadence Bank | 203941 |
| 853 | California BanCorp\* | 16557 |
| 1010 | Camden National Corp. | 40844 |
| 378 | Capital Bancorp Inc. | 10508 |
| 618 | Capital City Bank Group Inc. | 25907 |
| 8396 | Capitol Federal Financial Inc. | 55498 |
| 965 | Carter Bankshares Inc.\* | 17727 |
| 2971 | Cathay General Bancorp | 143915 |
| 770 | Central Pacific Financial Corp. | 22900 |
| 154 | Chemung Financial Corp. | 8111 |
| 635 | Citizens & Northern Corp. | 12802 |
| 177 | Citizens Financial Services Inc. | 9893 |
| 619 | City Holding Co. | 75091 |
| 679 | Civista Bancshares Inc. | 15440 |
| 1233 | CNB Financial Corp. | 31959 |
| 535 | Coastal Financial Corp.\* | 59572 |
| 731 | Colony Bankcorp Inc. | 12537 |
| 13642 | Columbia Banking System Inc. | 378156 |
| 1021 | Columbia Financial Inc.\* | 16162 |
| 5665 | Comerica Inc. | 455353 |
| 5449 | Commerce Bancshares Inc. | 293756 |
| 2234 | Community Financial System Inc. | 126802 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** |
|  **Banks - 6.0% - (continued)** | **Banks - 6.0% - (continued)** | **Banks - 6.0% - (continued)** |
| 876 | Community Trust Bancorp Inc. | $48618 |
| 743 | Community West Bancshares | 16829 |
| 1971 | ConnectOne Bancorp Inc. | 49807 |
| 2621 | Cullen/Frost Bankers Inc. | 324270 |
| 1278 | Customers Bancorp Inc.\* | 88054 |
| 6545 | CVB Financial Corp. | 128806 |
| 2462 | Dime Community Bancshares Inc. | 69798 |
| 1275 | Eagle Bancorp Inc. | 24187 |
| 22636 | East West Bancorp Inc. | 2415261 |
| 10752 | Eastern Bankshares Inc. | 202460 |
| 1535 | Enterprise Financial Services Corp. | 83826 |
| 1021 | Equity Bancshares Inc., Class A Shares | 44454 |
| 286 | Esquire Financial Holdings Inc. | 29189 |
| 525 | Farmers & Merchants Bancorp Inc. | 12863 |
| 1573 | Farmers National Banc Corp. | 21377 |
| 1789 | FB Financial Corp. | 99934 |
| 186 | Fidelity D&D Bancorp Inc. | 8143 |
| 811 | Financial Institutions Inc. | 24817 |
| 50872 | First Bancorp | 1059753 |
| 868 | First Bancorp Inc. (The) | 22212 |
| 1230 | First Bank | 19329 |
| 3826 | First Busey Corp. | 90064 |
| 294 | First Business Financial Services Inc. | 15353 |
| 893 | First Citizens BancShares Inc., Class A Shares | 1676956 |
| 4785 | First Commonwealth Financial Corp. | 77756 |
| 849 | First Community Bankshares Inc. | 28374 |
| 4032 | First Financial Bancorp | 100316 |
| 6264 | First Financial Bankshares Inc. | 195687 |
| 613 | First Financial Corp. | 35781 |
| 2380 | First Foundation Inc.\* | 12662 |
| 32144 | First Hawaiian Inc. | 801028 |
| 22315 | First Horizon Corp. | 498517 |
| 310 | First Internet Bancorp | 5905 |
| 3799 | First Interstate BancSystem Inc., Class A Shares | 124759 |
| 2648 | First Merchants Corp. | 97552 |
| 1237 | First Mid Bancshares Inc. | 47080 |
| 320 | First Western Financial Inc.\* | 7792 |
| 693 | Firstsun Capital Bancorp\* | 23167 |
| 742 | Five Star Bancorp | 25592 |
| 84074 | Flagstar Bank N.A. | 1029066 |
| 1038 | Flushing Financial Corp. | 17034 |
| 98171 | FNB Corp. | 1633565 |
| 280 | FS Bancorp Inc. | 11466 |
| 7749 | Fulton Financial Corp. | 140644 |
| 686 | FVCBankcorp Inc. | 8719 |
| 397 | GBank Financial Holdings Inc.\* | 13442 |
| 1880 | German American Bancorp Inc. | 74636 |
| 17857 | Glacier Bancorp Inc. | 755351 |
| 351 | Great Southern Bancorp Inc. | 21116 |
| 266 | Greene County Bancorp Inc. | 6065 |
| 3719 | Hancock Whitney Corp. | 225334 |
| 1315 | Hanmi Financial Corp. | 36320 |
| 644 | HBT Financial Inc. | 15585 |
| 3032 | Heritage Commerce Corp. | 33018 |
| 1343 | Heritage Financial Corp. | 32151 |
| 2064 | Hilltop Holdings Inc. | 70836 |
| 65 | Hingham Institution For Savings The | 19039 |
| 295 | Home Bancorp Inc. | 16364 |
| 8168 | Home BancShares Inc. | 229194 |
| 1168 | HomeTrust Bancshares Inc. | 47900 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** |
|  **Banks - 6.0% - (continued)** | **Banks - 6.0% - (continued)** | **Banks - 6.0% - (continued)** |
| 5260 | Hope Bancorp Inc. | $55861 |
| 4448 | Horizon Bancorp Inc. | 76239 |
| 153583 | Huntington Bancshares Inc. | 2503403 |
| 20234 | Independent Bank Corp. | 1421966 |
| 2478 | International Bancshares Corp. | 164737 |
| 433 | Investar Holding Corp. | 10738 |
| 587 | John Marshall Bancorp Inc. | 11740 |
| 2369 | Kearny Financial Corp. | 16275 |
| 1074 | Lakeland Financial Corp. | 62571 |
| 564 | LCNB Corp. | 8951 |
| 1077 | LINKBANCORP Inc. | 8207 |
| 1667 | Live Oak Bancshares Inc. | 53211 |
| 720 | Mechanics Bancorp, Class A Shares\* | 11189 |
| 830 | Mercantile Bank Corp. | 38163 |
| 818 | Metrocity Bankshares Inc. | 21800 |
| 409 | Metropolitan Bank Holding Corp. | 30515 |
| 1080 | Mid Penn Bancorp Inc. | 31525 |
| 304 | Middlefield Banc Corp. | 10579 |
| 719 | Midland States Bancorp Inc. | 11691 |
| 852 | MidWestOne Financial Group Inc. | 33714 |
| 430 | MVB Financial Corp. | 11636 |
| 1593 | National Bank Holdings Corp., Class A Shares | 59276 |
| 273 | National Bankshares Inc. | 8062 |
| 1643 | NB Bancorp Inc. | 32186 |
| 2224 | NBT Bancorp Inc. | 92207 |
| 594 | Nicolet Bankshares Inc. | 74832 |
| 274 | Northeast Bank | 24353 |
| 533 | Northeast Community Bancorp Inc. | 11278 |
| 1560 | Northfield Bancorp Inc. | 16770 |
| 920 | Northrim BanCorp Inc. | 22595 |
| 5997 | Northwest Bancshares Inc. | 71724 |
| 297 | Norwood Financial Corp. | 8512 |
| 236 | Oak Valley Bancorp | 6632 |
| 2595 | OceanFirst Financial Corp. | 48916 |
| 1820 | OFG Bancorp | 72309 |
| 15286 | Old National Bancorp | 332165 |
| 2497 | Old Second Bancorp Inc. | 47068 |
| 533 | Orange County Bancorp Inc. | 14450 |
| 1327 | Origin Bancorp Inc. | 48290 |
| 770 | Orrstown Financial Services Inc. | 27535 |
| 665 | Park National Corp. | 102111 |
| 952 | Parke Bancorp Inc. | 21791 |
| 1059 | Pathward Financial Inc. | 76142 |
| 540 | PCB Bancorp | 11729 |
| 660 | Peapack Gladstone Financial Corp. | 17820 |
| 1928 | Peoples Bancorp Inc. | 57127 |
| 222 | Peoples Bancorp of North Carolina Inc. | 7270 |
| 386 | Peoples Financial Services Corp. | 18833 |
| 3350 | Pinnacle Financial Partners Inc. | 307128 |
| 545 | Pioneer Bancorp Inc.\* | 7249 |
| 238 | Plumas Bancorp | 10332 |
| 668 | Ponce Financial Group Inc.\* | 10648 |
| 2952 | Popular Inc. | 338624 |
| 386 | Preferred Bank | 36442 |
| 950 | Primis Financial Corp. | 10669 |
| 209 | Princeton Bancorp Inc. | 7188 |
| 3957 | Prosperity Bancshares Inc. | 271885 |
| 4359 | Provident Financial Services Inc. | 83606 |
| 755 | QCR Holdings Inc. | 61631 |
| 762 | RBB Bancorp | 15095 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** |
|  **Banks - 6.0% - (continued)** | **Banks - 6.0% - (continued)** | **Banks - 6.0% - (continued)** |
| 182 | Red River Bancshares Inc. | $12749 |
| 4074 | Renasant Corp. | 144383 |
| 365 | Republic Bancorp Inc., Class A Shares | 25189 |
| 1645 | S&T Bancorp Inc. | 64945 |
| 4544 | Seacoast Banking Corp. of Florida | 143409 |
| 2279 | ServisFirst Bancshares Inc. | 162105 |
| 3005 | Shore Bancshares Inc. | 52497 |
| 564 | Sierra Bancorp | 17518 |
| 6252 | Simmons First National Corp., Class A Shares | 115975 |
| 657 | SmartFinancial Inc. | 23823 |
| 524 | South Plains Financial Inc. | 19802 |
| 313 | Southern First Bancshares Inc.\* | 15888 |
| 384 | Southern Missouri Bancorp Inc. | 21615 |
| 1226 | Southside Bancshares Inc. | 35959 |
| 4354 | SouthState Bank Corp. | 389727 |
| 2259 | Stellar Bancorp Inc. | 71407 |
| 1036 | Sterling Bancorp Inc.\*(b)# |  |
| 1121 | Stock Yards Bancorp Inc. | 74177 |
| 6100 | Synovus Financial Corp. | 294020 |
| 37263 | Texas Capital Bancshares Inc.\* | 3360005 |
| 2858 | TFS Financial Corp. | 40726 |
| 458 | Third Coast Bancshares Inc.\* | 17454 |
| 317 | Timberland Bancorp Inc. | 10841 |
| 684 | Tompkins Financial Corp. | 47271 |
| 3218 | Towne Bank | 107964 |
| 2061 | TriCo Bancshares | 99134 |
| 972 | Triumph Financial Inc.\* | 53081 |
| 802 | TrustCo. Bank Corp. NY | 33788 |
| 2629 | Trustmark Corp. | 102268 |
| 16371 | UMB Financial Corp. | 1818491 |
| 6250 | United Bankshares Inc. | 232750 |
| 5107 | United Community Banks Inc. | 156070 |
| 317 | Unity Bancorp Inc. | 15860 |
| 1520 | Univest Financial Corp. | 48336 |
| 482 | USCB Financial Holdings Inc. | 8575 |
| 21534 | Valley National Bancorp | 243765 |
| 198 | Virginia National Bankshares Corp. | 8039 |
| 37712 | WaFd Inc. | 1193962 |
| 851 | Washington Trust Bancorp Inc. | 24168 |
| 26049 | Webster Financial Corp. | 1552520 |
| 4166 | WesBanco Inc. | 134437 |
| 761 | West BanCorp Inc. | 16909 |
| 1109 | Westamerica BanCorp | 53210 |
| 4839 | Western Alliance Bancorp | 394524 |
| 25584 | Wintrust Financial Corp. | 3428768 |
| 2558 | WSFS Financial Corp. | 142762 |
| 6466 | Zions Bancorp NA | 344185 |
|  | Total Banks | 41379372 |
|  **Capital Markets - 2.4%**  | **Capital Markets - 2.4%**  | **Capital Markets - 2.4%**  |
| 1314 | Acadian Asset Management Inc. | 58920 |
| 1219 | Affiliated Managers Group Inc. | 327704 |
| 1313 | AlTi Global Inc.\* | 5305 |
| 2815 | Artisan Partners Asset Management Inc., Class A Shares | 116766 |
| 16535 | BGC Group Inc., Class A Shares | 143854 |
| 11583 | Carlyle Group Inc. (The) | 631621 |
| 2643 | Cboe Global Markets Inc. | 682343 |
| 1255 | Cohen & Steers Inc. | 79379 |
| 170 | Diamond Hill Investment Group Inc. | 20060 |
| 8123 | DigitalBridge Group Inc. | 78874 |
| 1248 | Donnelley Financial Solutions Inc.\* | 61227 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** |
|  **Capital Markets - 2.4% - (continued)** | **Capital Markets - 2.4% - (continued)** | **Capital Markets - 2.4% - (continued)** |
| 1643 | Evercore Inc., Class A Shares | $525875 |
| 1652 | FactSet Research Systems Inc. | 458050 |
| 395 | Forge Global Holdings Inc.\* | 17522 |
| 13539 | Franklin Resources Inc. | 305846 |
| 794 | Freedom Holding Corp.\* | 104729 |
| 2296 | GCM Grosvenor Inc., Class A Shares | 25210 |
| 1782 | Hamilton Lane Inc., Class A Shares | 220852 |
| 17696 | Houlihan Lokey Inc., Class A Shares | 3103878 |
| 82840 | Invesco Ltd. | 2025438 |
| 5876 | Janus Henderson Group PLC | 256840 |
| 6674 | Jefferies Financial Group Inc. | 384155 |
| 4124 | Lazard Inc., Class A Shares | 208262 |
| 2404 | Marex Group PLC | 83635 |
| 1576 | MarketAxess Holdings Inc. | 258291 |
| 2335 | Moelis & Co., Class A Shares | 149837 |
| 995 | Morningstar Inc. | 213786 |
| 3688 | Open Lending Corp.\* | 7044 |
| 1947 | P10 Inc., Class A Shares | 18263 |
| 3329 | Patria Investments Ltd., Class A Shares | 50168 |
| 2966 | Perella Weinberg Partners, Class A Shares | 54159 |
| 784 | Piper Sandler Cos. | 263346 |
| 1036 | PJT Partners Inc., Class A Shares | 174058 |
| 4509 | SEI Investments Co. | 364598 |
| 575 | Silvercrest Asset Management Group Inc., Class A Shares | 7935 |
| 25467 | StepStone Group Inc., Class A Shares | 1608496 |
| 15676 | Stifel Financial Corp. | 1912472 |
| 1974 | StoneX Group Inc.\* | 178864 |
| 5857 | TPG Inc., Class A Shares | 346032 |
| 2024 | Victory Capital Holdings Inc., Class A Shares | 127289 |
| 3546 | Virtu Financial Inc., Class A Shares | 126805 |
| 305 | Virtus Investment Partners Inc. | 48675 |
| 5433 | WisdomTree Inc. | 59980 |
| 18113 | XP Inc., Class A Shares | 357007 |
|  | Total Capital Markets | 16253450 |
|  **Consumer Finance - 1.0%**  | **Consumer Finance - 1.0%**  | **Consumer Finance - 1.0%**  |
| 12341 | Ally Financial Inc. | 509683 |
| 210 | Atlanticus Holdings Corp.\* | 12380 |
| 11156 | Bread Financial Holdings Inc. | 755596 |
| 440 | Consumer Portfolio Services Inc.\* | 3639 |
| 204 | Credit Acceptance Corp.\* | 94242 |
| 422 | Dave Inc.\* | 92106 |
| 996 | Encore Capital Group Inc.\* | 51682 |
| 1057 | Enova International Inc.\* | 138562 |
| 16110 | FirstCash Holdings Inc. | 2551985 |
| 2490 | Green Dot Corp., Class A Shares\* | 31299 |
| 4738 | LendingClub Corp.\* | 85758 |
| 553 | LendingTree Inc.\* | 31538 |
| 944 | Medallion Financial Corp. | 9383 |
| 3873 | Navient Corp. | 48025 |
| 609 | Nelnet Inc., Class A Shares | 78707 |
| 1345 | NerdWallet Inc., Class A Shares\* | 20189 |
| 5247 | OneMain Holdings Inc., Class A Shares | 325471 |
| 717 | OppFi Inc. | 7098 |
| 2016 | PRA Group Inc.\* | 32659 |
| 1846 | PROG Holdings Inc. | 53128 |
| 351 | Regional Management Corp. | 13352 |
| 9328 | SLM Corp. | 273310 |
| 49983 | SoFi Technologies Inc.\* | 1485495 |
| 3762 | Upstart Holdings Inc.\* | 169140 |
| 182 | World Acceptance Corp.\* | 28148 |
|  | Total Consumer Finance | 6902575 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** |
|  **Financial Services - 1.4%**  | **Financial Services - 1.4%**  | **Financial Services - 1.4%**  |
| 1324 | Acacia Research Corp.\* | $4952 |
| 11807 | Affirm Holdings Inc., Class A Shares\* | 837707 |
| 875 | Alerus Financial Corp. | 18848 |
| 1317 | Banco Latinoamericano de Comercio Exterior SA, Class E Shares | 59133 |
| 8708 | Burford Capital Ltd. | 83336 |
| 2626 | Cannae Holdings Inc. | 42279 |
| 2353 | Cantaloupe Inc.\* | 25107 |
| 573 | Cass Information Systems Inc. | 24066 |
| 2987 | Compass Diversified Holdings | 21984 |
| 1453 | Enact Holdings Inc. | 56246 |
| 11232 | Equitable Holdings Inc. | 524422 |
| 4301 | Essent Group Ltd. | 269931 |
| 1806 | Euronet Worldwide Inc.\* | 133807 |
| 2788 | EVERTEC Inc. | 80573 |
| 425 | Federal Agricultural Mortgage Corp., Class C Shares | 72998 |
| 5669 | Flywire Corp.\* | 79309 |
| 55006 | HA Sustainable Infrastructure Capital Inc. | 1890006 |
| 1192 | International Money Express Inc.\* | 18166 |
| 3214 | Jack Henry & Associates Inc. | 560779 |
| 2557 | Jackson Financial Inc., Class A Shares | 250612 |
| 17718 | Marqeta Inc., Class A Shares\* | 84869 |
| 1312 | Merchants Bancorp | 42889 |
| 10214 | MGIC Investment Corp. | 289567 |
| 40986 | NCR Atleos Corp.\* | 1519351 |
| 1765 | NewtekOne Inc. | 18850 |
| 3516 | NMI Holdings Inc., Class A Shares\* | 134135 |
| 214 | Onity Group Inc.\* | 9534 |
| 8048 | Pagseguro Digital Ltd., Class A Shares | 84343 |
| 11857 | Payoneer Global Inc.\* | 68533 |
| 1252 | Paysafe Ltd.\* | 9628 |
| 1759 | Paysign Inc.\* | 9164 |
| 1290 | PennyMac Financial Services Inc. | 173595 |
| 1787 | Priority Technology Holdings Inc.\* | 10454 |
| 5899 | Radian Group Inc. | 209709 |
| 7243 | Remitly Global Inc.\* | 98106 |
| 3464 | Repay Holdings Corp., Class A Shares\* | 11500 |
| 664 | Sezzle Inc.\* | 41002 |
| 2842 | Shift4 Payments Inc., Class A Shares\* | 209683 |
| 10862 | StoneCo Ltd., Class A Shares\* | 183025 |
| 6705 | UWM Holdings Corp. | 39224 |
| 342 | Velocity Financial Inc.\* | 6611 |
| 4228 | Voya Financial Inc. | 297228 |
| 14125 | Walker & Dunlop Inc. | 913040 |
| 713 | Waterstone Financial Inc. | 11166 |
| 12906 | Western Union Co. (The) | 113444 |
| 1514 | WEX Inc.\* | 224617 |
|  | Total Financial Services | 9867528 |
|  **Insurance - 2.5%**  | **Insurance - 2.5%**  | **Insurance - 2.5%**  |
| 930 | American Coastal Insurance Corp. | 11114 |
| 14367 | American Financial Group Inc. | 1978623 |
| 872 | AMERISAFE Inc. | 35578 |
| 989 | Aspen Insurance Holdings Ltd., Class A Shares\* | 36642 |
| 2244 | Assurant Inc. | 511991 |
| 2151 | Assured Guaranty Ltd. | 194752 |
| 3738 | Axis Capital Holdings Ltd. | 382173 |
| 3242 | Baldwin Insurance Group Inc. (The), Class A Shares\* | 92429 |
| 619 | Bowhead Specialty Holdings Inc.\* | 17239 |
| 2697 | Brighthouse Financial Inc.\* | 176788 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** |
|  **Insurance - 2.5% - (continued)** | **Insurance - 2.5% - (continued)** | **Insurance - 2.5% - (continued)** |
| 5083 | CNO Financial Group Inc. | $208047 |
| 1901 | Crawford & Co., Class A Shares | 21253 |
| 1238 | Donegal Group Inc., Class A Shares | 24921 |
| 1077 | Employers Holdings Inc. | 42918 |
| 1839 | Everest Group Ltd. | 577979 |
| 1268 | F&G Annuities & Life Inc. | 40969 |
| 2591 | Fidelis Insurance Holdings Ltd. | 49333 |
| 4298 | First American Financial Corp. | 282637 |
| 17866 | Genworth Financial Inc., Class A Shares\* | 155077 |
| 3827 | Globe Life Inc. | 515612 |
| 1111 | Goosehead Insurance Inc., Class A Shares | 79492 |
| 2130 | Greenlight Capital Re Ltd., Class A Shares\* | 28137 |
| 2042 | Hamilton Insurance Group Ltd., Class B Shares\* | 55706 |
| 11504 | Hanover Insurance Group Inc. (The) | 2134567 |
| 495 | HCI Group Inc. | 87986 |
| 1264 | Heritage Insurance Holdings Inc.\* | 36719 |
| 1039 | Hippo Holdings Inc.\* | 34058 |
| 1798 | Horace Mann Educators Corp. | 82312 |
| 61 | Investors Title Co. | 17014 |
| 1534 | James River Group Holdings Inc. | 9035 |
| 2897 | Kemper Corp. | 117966 |
| 161 | Kestrel Group Ltd.\* | 2397 |
| 681 | Kingsway Financial Services Inc.\* | 8853 |
| 981 | Kinsale Capital Group Inc. | 377587 |
| 2564 | Lemonade Inc.\* | 200300 |
| 6224 | Lincoln National Corp. | 256055 |
| 1651 | MBIA Inc.\* | 12465 |
| 1181 | Mercury General Corp. | 109975 |
| 380 | NI Holdings Inc.\* | 5160 |
| 1747 | Octave Specialty Group Inc.\* | 15706 |
| 10602 | Old Republic International Corp. | 488752 |
| 8562 | Oscar Health Inc., Class A Shares\* | 153859 |
| 20669 | Palomar Holdings Inc.\* | 2567297 |
| 8004 | Primerica Inc. | 2059589 |
| 2037 | ProAssurance Corp.\* | 49051 |
| 2920 | Reinsurance Group of America Inc., Class A Shares | 554420 |
| 2037 | RenaissanceRe Holdings Ltd. | 532003 |
| 3681 | RLI Corp. | 226971 |
| 502 | Root Inc., Class A Shares\* | 40607 |
| 4765 | Ryan Specialty Holdings Inc., Class A Shares | 276704 |
| 673 | Safety Insurance Group Inc. | 51161 |
| 2708 | Selective Insurance Group Inc. | 212741 |
| 9663 | Selectquote Inc.\* | 14011 |
| 2721 | SiriusPoint Ltd.\* | 56597 |
| 1595 | Skyward Specialty Insurance Group Inc.\* | 78091 |
| 1335 | Stewart Information Services Corp. | 102301 |
| 1016 | Tiptree Inc. | 19081 |
| 1782 | Trupanion Inc.\* | 62887 |
| 790 | United Fire Group Inc. | 28875 |
| 1277 | Universal Insurance Holdings Inc. | 42307 |
| 7818 | Unum Group | 593934 |
| 112 | White Mountains Insurance Group Ltd. | 226716 |
|  | Total Insurance | 17465520 |
|  **Mortgage Real Estate Investment Trusts (REITs) - 0.4%**  | **Mortgage Real Estate Investment Trusts (REITs) - 0.4%**  | **Mortgage Real Estate Investment Trusts (REITs) - 0.4%**  |
| 4100 | Adamas Trust Inc. | 31242 |
| 958 | AG Mortgage Investment Trust Inc. | 7836 |
| 46782 | AGNC Investment Corp. | 490743 |
| 560 | Angel Oak Mortgage REIT Inc. | 4928 |
| 28279 | Annaly Capital Management Inc. | 644761 |
| 6248 | Apollo Commercial Real Estate Finance Inc. | 63292 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** | **FINANCIALS - 13.7% - (continued)** |
|  **Mortgage Real Estate Investment Trusts (REITs) - 0.4% - (continued)** | **Mortgage Real Estate Investment Trusts (REITs) - 0.4% - (continued)** | **Mortgage Real Estate Investment Trusts (REITs) - 0.4% - (continued)** |
| 5912 | Arbor Realty Trust Inc. | $52676 |
| 1995 | Ares Commercial Real Estate Corp. | 10573 |
| 4447 | ARMOUR Residential REIT Inc. | 77911 |
| 6931 | Blackstone Mortgage Trust Inc., Class A Shares | 134947 |
| 7148 | BrightSpire Capital Inc., Class A Shares | 40100 |
| 619 | Chicago Atlantic Real Estate Finance Inc. | 7898 |
| 3594 | Chimera Investment Corp. | 45967 |
| 3170 | Claros Mortgage Trust Inc.\* | 10556 |
| 5129 | Dynex Capital Inc. | 71857 |
| 3649 | Ellington Financial Inc. | 49991 |
| 3528 | Franklin BSP Realty Trust Inc. | 36762 |
| 3910 | Invesco Mortgage Capital Inc. | 32062 |
| 2073 | KKR Real Estate Finance Trust Inc. | 17600 |
| 5133 | Ladder Capital Corp., Class A Shares | 56720 |
| 4624 | MFA Financial Inc. | 44483 |
| 287 | Nexpoint Real Estate Finance Inc. | 4156 |
| 5424 | Orchid Island Capital Inc. | 39216 |
| 3855 | PennyMac Mortgage Investment Trust | 49498 |
| 6373 | Ready Capital Corp. | 16124 |
| 7680 | Redwood Trust Inc. | 42317 |
| 22785 | Rithm Capital Corp. | 261800 |
| 763 | Seven Hills Realty Trust | 6684 |
| 15479 | Starwood Property Trust Inc. | 283885 |
| 3289 | TPG RE Finance Trust Inc. | 29897 |
| 4906 | Two Harbors Investment Corp. | 49747 |
|  | Total Mortgage Real Estate Investment Trusts (REITs) | 2716229 |
|  | **TOTAL FINANCIALS** | **94584674** |
|  **HEALTH CARE - 14.6%**  | **HEALTH CARE - 14.6%**  | **HEALTH CARE - 14.6%**  |
|  **Biotechnology - 6.2%**  | **Biotechnology - 6.2%**  | **Biotechnology - 6.2%**  |
| 1849 | 4D Molecular Therapeutics Inc.\* | 21559 |
| 14250 | Abivax SA, ADR\* | 1778827 |
| 5356 | ACADIA Pharmaceuticals Inc.\* | 134114 |
| 2666 | ADC Therapeutics SA\* | 11464 |
| 117266 | ADMA Biologics Inc.\* | 2249162 |
| 870 | Aduro Biotech Holdings Europe BV\*(b)(e) | 444 |
| 2454 | Agios Pharmaceuticals Inc.\* | 71657 |
| 12413 | Akebia Therapeutics Inc.\* | 19613 |
| 3155 | Akero Therapeutics Inc.\* | 171506 |
| 2197 | Aldeyra Therapeutics Inc.\* | 12040 |
| 2467 | Alector Inc.\* | 3281 |
| 7053 | Alkermes PLC\* | 208628 |
| 5063 | Allogene Therapeutics Inc.\* | 7392 |
| 2654 | Altimmune Inc.\* | 13960 |
| 12243 | Amicus Therapeutics Inc.\* | 121573 |
| 898 | AnaptysBio Inc.\* | 37402 |
| 3701 | Anavex Life Sciences Corp.\* | 14175 |
| 530 | Anika Therapeutics Inc.\* | 5236 |
| 3983 | Annexon Inc.\* | 17923 |
| 4700 | Apellis Pharmaceuticals Inc.\* | 100110 |
| 1509 | Apogee Therapeutics Inc.\* | 108603 |
| 5603 | Arbutus Biopharma Corp.\* | 24709 |
| 1601 | Arcellx Inc.\* | 116409 |
| 772 | Arcturus Therapeutics Holdings Inc.\* | 5242 |
| 3608 | Arcus Biosciences Inc.\* | 94169 |
| 4665 | Arcutis Biotherapeutics Inc.\* | 142982 |
| 10244 | Ardelyx Inc.\* | 59415 |
| 1107 | ArriVent Biopharma Inc.\* | 25395 |
| 5214 | Arrowhead Pharmaceuticals Inc.\* | 274778 |
| 2715 | ARS Pharmaceuticals Inc.\* | 25901 |
| 36702 | Ascendis Pharma AS, ADR\* | 7792936 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** |
|  **Biotechnology - 6.2% - (continued)** | **Biotechnology - 6.2% - (continued)** | **Biotechnology - 6.2% - (continued)** |
| 1743 | Astria Therapeutics Inc.\* | $22049 |
| 4788 | aTyr Pharma Inc.\* | 3737 |
| 1893 | Aura Biosciences Inc.\* | 12494 |
| 5137 | Aurinia Pharmaceuticals Inc.\* | 82808 |
| 18360 | Avidity Biosciences Inc.\* | 1316412 |
| 894 | Avita Medical Inc.\* | 3308 |
| 3978 | Beam Therapeutics Inc.\* | 100763 |
| 1663 | Bicara Therapeutics Inc.\* | 30865 |
| 66424 | Bicycle Therapeutics PLC, ADR\* | 496852 |
| 9033 | BioCryst Pharmaceuticals Inc.\* | 64857 |
| 4503 | Biohaven Ltd.\* | 45165 |
| 7022 | Bridgebio Pharma Inc.\* | 505654 |
| 820 | Candel Therapeutics Inc.\* | 3911 |
| 1420 | Capricor Therapeutics Inc.\*(a) | 7597 |
| 1647 | Cardiff Oncology Inc.\* | 3755 |
| 2288 | CareDx Inc.\* | 40887 |
| 1170 | Caris Life Sciences Inc.\* | 29870 |
| 5491 | Catalyst Pharmaceuticals Inc.\* | 128544 |
| 1284 | Celcuity Inc.\* | 129864 |
| 2808 | Celldex Therapeutics Inc.\* | 75872 |
| 2454 | CG oncology Inc.\* | 110037 |
| 731 | Cidara Therapeutics Inc.\* | 160732 |
| 5395 | Cogent Biosciences Inc.\* | 216987 |
| 4788 | Coherus Oncology Inc.\* | 6512 |
| 3100 | Compass Therapeutics Inc.\* | 17980 |
| 1253 | Contra Inhibrx Inc.\*(b)(e) | 2055 |
| 3760 | CRISPR Therapeutics AG\* | 201047 |
| 1892 | Cullinan Therapeutics Inc.\* | 21512 |
| 5159 | Cytokinetics Inc.\* | 351483 |
| 4806 | Day One Biopharmaceuticals Inc.\* | 45609 |
| 6386 | Denali Therapeutics Inc.\* | 124335 |
| 1220 | Design Therapeutics Inc.\* | 11456 |
| 884 | Dianthus Therapeutics Inc.\* | 38878 |
| 1064 | Discount Medicine Inc., Class A Shares\* | 99335 |
| 5433 | Dynavax Technologies Corp.\* | 61773 |
| 4967 | Dyne Therapeutics Inc.\* | 108777 |
| 3076 | Editas Medicine Inc.\* | 7413 |
| 2996 | Emergent BioSolutions Inc.\* | 33465 |
| 712 | Enanta Pharmaceuticals Inc.\* | 10053 |
| 930 | Entrada Therapeutics Inc.\* | 9551 |
| 6356 | Erasca Inc.\* | 20149 |
| 8230 | Exact Sciences Corp.\* | 833617 |
| 11579 | Exelixis Inc.\* | 511444 |
| 4506 | Fate Therapeutics Inc.\* | 5137 |
| 629 | Fennec Pharmaceuticals Inc.\* | 5151 |
| 784 | Foghorn Therapeutics Inc.\* | 3724 |
| 24594 | Geron Corp.\* | 29021 |
| 7614 | Gossamer Bio Inc.\* | 25431 |
| 1424 | GRAIL Inc.\* | 157195 |
| 420 | Greenwich Lifesciences Inc.\* | 3667 |
| 5412 | Halozyme Therapeutics Inc.\* | 386417 |
| 4418 | Heron Therapeutics Inc.\* | 5125 |
| 3532 | Humacyte Inc.\* | 4768 |
| 3879 | Ideaya Biosciences Inc.\* | 138170 |
| 12180 | ImmunityBio Inc.\* | 28745 |
| 2771 | Immunome Inc.\* | 51042 |
| 3925 | Immunovant Inc.\* | 94789 |
| 483 | Inhibrx Biosciences Inc.\* | 40630 |
| 8219 | Insmed Inc.\* | 1707662 |
| 4533 | Intellia Therapeutics Inc.\* | 40752 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** |
|  **Biotechnology - 6.2% - (continued)** | **Biotechnology - 6.2% - (continued)** | **Biotechnology - 6.2% - (continued)** |
| 6893 | Ionis Pharmaceuticals Inc.\* | $570258 |
| 12703 | Iovance Biotherapeutics Inc.\* | 31376 |
| 5272 | Ironwood Pharmaceuticals Inc., Class A Shares\* | 18452 |
| 1839 | Jade Biosciences Inc. | 23576 |
| 1925 | Janux Therapeutics Inc.\* | 65623 |
| 1371 | KalVista Pharmaceuticals Inc.\* | 19838 |
| 1260 | Keros Therapeutics Inc.\* | 22025 |
| 1361 | Kodiak Sciences Inc.\* | 31276 |
| 230 | Korro Bio Inc.\* | 1311 |
| 1103 | Krystal Biotech Inc.\* | 240454 |
| 2800 | Kura Oncology Inc.\* | 33992 |
| 2229 | Kymera Therapeutics Inc.\* | 151305 |
| 1886 | Larimar Therapeutics Inc.\* | 6676 |
| 47052 | Legend Biotech Corp., ADR\* | 1303811 |
| 1199 | Lexeo Therapeutics Inc.\* | 11822 |
| 819 | Madrigal Pharmaceuticals Inc.\* | 488927 |
| 14163 | MannKind Corp.\* | 75772 |
| 1516 | MeiraGTx Holdings PLC\* | 12583 |
| 20658 | Merus NV\* | 1986060 |
| 5419 | MiMedx Group Inc.\* | 37283 |
| 1819 | Mineralys Therapeutics Inc.\* | 78435 |
| 1806 | Mirum Pharmaceuticals Inc.\* | 131928 |
| 1545 | Monte Rosa Therapeutics Inc.\* | 24983 |
| 3344 | Myriad Genetics Inc.\* | 25515 |
| 4253 | Neurocrine Biosciences Inc.\* | 647136 |
| 386 | Neurogene Inc.\* | 8137 |
| 2097 | Nkarta Inc.\* | 3963 |
| 7011 | Novavax Inc.\* | 49428 |
| 3388 | Nurix Therapeutics Inc.\* | 59900 |
| 2046 | Nuvalent Inc., Class A Shares\* | 223730 |
| 2500 | Olema Pharmaceuticals Inc.\* | 70800 |
| 19 | Oncternal Therapeutics Inc.\*(b)(e) |  |
| 2782 | Organogenesis Holdings Inc., Class A Shares\* | 14411 |
| 2472 | ORIC Pharmaceuticals Inc.\* | 29367 |
| 1250 | Oruka Therapeutics Inc.\* | 37625 |
| 246 | Palvella Therapeutics Inc.\* | 25286 |
| 2248 | Perspective Therapeutics Inc.\* | 5283 |
| 850 | Praxis Precision Medicines Inc.\* | 166991 |
| 7302 | Precigen Inc.\* | 27967 |
| 2474 | Prime Medicine Inc.\* | 9451 |
| 2523 | Protagonist Therapeutics Inc.\* | 227070 |
| 1505 | Prothena Corp. PLC\* | 16179 |
| 3385 | PTC Therapeutics Inc.\* | 291076 |
| 2183 | Puma Biotechnology Inc.\* | 11024 |
| 15795 | Recursion Pharmaceuticals Inc., Class A Shares\* | 73131 |
| 1711 | REGENXBIO Inc.\* | 22910 |
| 4704 | Relay Therapeutics Inc.\* | 37256 |
| 2834 | Replimune Group Inc.\* | 28340 |
| 42345 | Revolution Medicines Inc.\* | 3292747 |
| 2639 | Rezolute Inc.\* | 25651 |
| 17177 | Rhythm Pharmaceuticals Inc.\* | 1873839 |
| 719 | Rigel Pharmaceuticals Inc.\* | 36302 |
| 3318 | Rocket Pharmaceuticals Inc.\* | 11348 |
| 17851 | Roivant Sciences Ltd.\* | 371479 |
| 4931 | Sana Biotechnology Inc.\* | 21203 |
| 3913 | Sarepta Therapeutics Inc.\* | 83503 |
| 4448 | Savara Inc.\* | 27978 |
| 3724 | Scholar Rock Holding Corp.\* | 164079 |
| 6389 | Soleno Therapeutics Inc.\* | 322325 |
| 3981 | Solid Biosciences Inc.\* | 21617 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** |
|  **Biotechnology - 6.2% - (continued)** | **Biotechnology - 6.2% - (continued)** | **Biotechnology - 6.2% - (continued)** |
| 2539 | Spyre Therapeutics Inc.\* | $76170 |
| 2015 | Stoke Therapeutics Inc.\* | 62284 |
| 5441 | Summit Therapeutics Inc.\* | 97339 |
| 3718 | Syndax Pharmaceuticals Inc.\* | 73691 |
| 3402 | Tango Therapeutics Inc.\* | 37116 |
| 10484 | Taysha Gene Therapies Inc.\* | 49694 |
| 6478 | TG Therapeutics Inc.\* | 215458 |
| 4116 | Travere Therapeutics Inc., Class Preferred Shares\* | 145748 |
| 2510 | Twist Bioscience Corp.\* | 80345 |
| 760 | Tyra Biosciences Inc.\* | 17146 |
| 4154 | Ultragenyx Pharmaceutical Inc.\* | 144351 |
| 1954 | United Therapeutics Corp.\* | 949644 |
| 1458 | Upstream Bio Inc.\* | 41699 |
| 1388 | UroGen Pharma Ltd.\* | 39988 |
| 2203 | Vanda Pharmaceuticals Inc.\* | 11808 |
| 55728 | Vaxcyte Inc.\* | 2764666 |
| 2020 | Vera Therapeutics Inc., Class A Shares\* | 68175 |
| 3260 | Veracyte Inc.\* | 154328 |
| 1389 | Verastem Inc.\* | 14779 |
| 2124 | Vericel Corp.\* | 85491 |
| 5015 | Viking Therapeutics Inc.\* | 184602 |
| 4601 | Vir Biotechnology Inc.\* | 29538 |
| 3337 | Viridian Therapeutics Inc.\* | 106651 |
| 1953 | Voyager Therapeutics Inc.\* | 7988 |
| 2574 | Xencor Inc.\* | 44582 |
| 21001 | Xenon Pharmaceuticals Inc.\* | 939165 |
| 322 | XOMA Royalty Corp.\* | 10346 |
| 623 | Zenas Biopharma Inc.\* | 24191 |
| 2037 | Zymeworks Inc.\* | 54408 |
|  | Total Biotechnology | 42770699 |
|  **Health Care Equipment & Supplies - 2.8%**  | **Health Care Equipment & Supplies - 2.8%**  | **Health Care Equipment & Supplies - 2.8%**  |
| 137843 | Accuray Inc.\* | 148870 |
| 5555 | Alphatec Holdings Inc.\* | 125265 |
| 1510 | AngioDynamics Inc.\* | 18724 |
| 1753 | Artivion Inc.\* | 81795 |
| 24272 | AtriCure Inc.\* | 876705 |
| 1628 | Avanos Medical Inc.\* | 19113 |
| 1622 | AxoGen Inc.\* | 46470 |
| 1927 | Beta Bionics Inc.\* | 60392 |
| 1374 | Bioventus Inc., Class A Shares\* | 10429 |
| 8604 | Butterfly Network Inc., Class A Shares\* | 26672 |
| 1376 | Ceribell Inc.\* | 23351 |
| 6314 | Cerus Corp.\* | 11113 |
| 1175 | ClearPoint Neuro Inc.\* | 16991 |
| 8774 | CONMED Corp. | 380967 |
| 605 | CVRx Inc.\* | 5935 |
| 22626 | CytoSorbents Corp.\* | 18354 |
| 1722 | Delcath Systems Inc.\* | 16703 |
| 8965 | DENTSPLY SIRONA Inc. | 101663 |
| 2956 | Embecta Corp. | 37704 |
| 2437 | Enovis Corp.\* | 73768 |
| 82124 | Envista Holdings Corp.\* | 1716392 |
| 2571 | Glaukos Corp.\* | 273272 |
| 24411 | Globus Medical Inc., Class A Shares\* | 2222377 |
| 37132 | Haemonetics Corp.\* | 3020688 |
| 1121 | ICU Medical Inc.\* | 166401 |
| 990 | Inogen Inc.\* | 7009 |
| 1304 | Inspire Medical Systems Inc.\* | 162231 |
| 15951 | Integer Holdings Corp.\* | 1151343 |
| 48432 | Integra LifeSciences Holdings Corp.\* | 635428 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** |
|  **Health Care Equipment & Supplies - 2.8% - (continued)** | **Health Care Equipment & Supplies - 2.8% - (continued)** | **Health Care Equipment & Supplies - 2.8% - (continued)** |
| 370 | iRadimed Corp. | $34491 |
| 10548 | iRhythm Technologies Inc.\* | 1983129 |
| 3039 | Lantheus Holdings Inc.\* | 178906 |
| 853 | LeMaitre Vascular Inc. | 70756 |
| 2458 | LivaNova PLC\* | 156845 |
| 17629 | Masimo Corp.\* | 2510898 |
| 2529 | Merit Medical Systems Inc.\* | 218986 |
| 35957 | Neogen Corp.\* | 215023 |
| 507 | NeuroPace Inc.\* | 8295 |
| 4752 | Novocure Ltd.\* | 60873 |
| 1891 | Omnicell Inc.\* | 69040 |
| 93324 | OraSure Technologies Inc.\* | 222111 |
| 1312 | Orthofix Medical Inc.\* | 21110 |
| 682 | OrthoPediatrics Corp.\* | 12610 |
| 1008 | Outset Medical Inc.\* | 4596 |
| 1651 | Penumbra Inc.\* | 484024 |
| 2413 | PROCEPT BioRobotics Corp.\* | 76444 |
| 793 | Pulse Biosciences Inc.\* | 10856 |
| 22965 | QuidelOrtho Corp.\* | 628093 |
| 1838 | RxSight Inc.\* | 20990 |
| 143 | Sanara Medtech Inc.\* | 2992 |
| 362 | Semler Scientific Inc.\* | 7863 |
| 1976 | SI-BONE Inc.\* | 38453 |
| 1632 | Sight Sciences Inc.\* | 13644 |
| 2279 | STAAR Surgical Co.\* | 60485 |
| 1944 | Stereotaxis Inc.\* | 4782 |
| 906 | Tactile Systems Technology Inc.\* | 23293 |
| 2843 | Tandem Diabetes Care Inc.\* | 59731 |
| 1959 | Teleflex Inc. | 224149 |
| 1471 | TransMedics Group Inc.\* | 215222 |
| 1716 | Treace Medical Concepts Inc.\* | 5114 |
| 308 | UFP Technologies Inc.\* | 69821 |
| 72 | Utah Medical Products Inc. | 4057 |
| 38259 | Varex Imaging Corp.\* | 442657 |
|  | Total Health Care Equipment & Supplies | 19616464 |
|  **Health Care Providers & Services - 3.1%**  | **Health Care Providers & Services - 3.1%**  | **Health Care Providers & Services - 3.1%**  |
| 36288 | Acadia Healthcare Co., Inc.\* | 624154 |
| 4424 | AdaptHealth Corp., Class A Shares\* | 42736 |
| 834 | Addus HomeCare Corp.\* | 100247 |
| 12962 | agilon health Inc.\* | 8440 |
| 6949 | Alignment Healthcare Inc.\* | 133490 |
| 1780 | AMN Healthcare Services Inc.\* | 29637 |
| 1054 | Ardent Health Inc.\* | 9254 |
| 1839 | Astrana Health Inc.\* | 42371 |
| 2000 | Aveanna Healthcare Holdings Inc.\* | 18680 |
| 4661 | BrightSpring Health Services Inc.\* | 168542 |
| 10830 | Brookdale Senior Living Inc.\* | 120538 |
| 1005 | Castle Biosciences Inc.\* | 40150 |
| 631 | Chemed Corp. | 277129 |
| 17895 | Clover Health Investments Corp., Class A Shares\* | 44559 |
| 5286 | Community Health Systems Inc.\* | 18290 |
| 5024 | Concentra Group Holdings Parent Inc. | 103293 |
| 1311 | CorVel Corp.\* | 95939 |
| 1226 | Cross Country Healthcare Inc.\* | 12579 |
| 1684 | DaVita Inc.\* | 201541 |
| 3686 | DocGo Inc.\* | 3797 |
| 16931 | Encompass Health Corp. | 1967721 |
| 2014 | Enhabit Inc.\* | 18005 |
| 2458 | Ensign Group Inc. (The) | 456057 |
| 726 | Fulgent Genetics Inc.\* | 21475 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** |
|  **Health Care Providers & Services - 3.1% - (continued)** | **Health Care Providers & Services - 3.1% - (continued)** | **Health Care Providers & Services - 3.1% - (continued)** |
| 17957 | GeneDx Holdings Corp., Class A Shares\* | $2997921 |
| 21138 | Guardant Health Inc.\* | 2291782 |
| 860 | Guardian Pharmacy Services Inc., Class A Shares\* | 25181 |
| 32110 | HealthEquity Inc.\* | 3377330 |
| 4661 | Henry Schein Inc.\* | 347571 |
| 8261 | Hims & Hers Health Inc.\* | 328457 |
| 1243 | Innovage Holding Corp.\* | 6563 |
| 424 | Joint Corp. (The)\* | 3570 |
| 6022 | LifeStance Health Group Inc.\* | 39143 |
| 2009 | Nano-X Imaging Ltd.\* | 9000 |
| 550 | National HealthCare Corp. | 74959 |
| 496 | National Research Corp. | 8427 |
| 5513 | NeoGenomics Inc.\* | 66707 |
| 183 | Nutex Health Inc.\* | 21065 |
| 24461 | OPKO Health Inc.\* | 33267 |
| 49604 | Option Care Health Inc.\* | 1542684 |
| 2933 | Owens & Minor Inc.\* | 7978 |
| 1605 | PACS Group Inc.\* | 53623 |
| 3715 | Pediatrix Medical Group Inc.\* | 89494 |
| 1488 | Pennant Group Inc. (The)\* | 41218 |
| 5534 | Privia Health Group Inc.\* | 134864 |
| 3324 | Progyny Inc.\* | 87654 |
| 17852 | RadNet Inc.\* | 1477967 |
| 4537 | Select Medical Holdings Corp. | 70278 |
| 183 | Sonida Senior Living Inc.\* | 5929 |
| 2589 | Strata Critical Medical Inc.\* | 11236 |
| 3238 | Surgery Partners Inc.\* | 55273 |
| 4583 | Talkspace Inc.\* | 15490 |
| 13593 | Tenet Healthcare Corp.\* | 2947506 |
| 2377 | Universal Health Services Inc., Class B Shares | 579108 |
| 657 | US Physical Therapy Inc. | 48519 |
| 1122 | Viemed Healthcare Inc.\* | 7753 |
|  | Total Health Care Providers & Services | 21366141 |
|  **Health Care Technology - 0.1%**  | **Health Care Technology - 0.1%**  | **Health Care Technology - 0.1%**  |
| 5075 | Certara Inc.\* | 46487 |
| 409 | Claritev Corp., Class A Shares\* | 22115 |
| 2148 | Definitive Healthcare Corp., Class A Shares\* | 6100 |
| 5857 | Doximity Inc., Class A Shares\* | 301284 |
| 4973 | Evolent Health Inc., Class A Shares\* | 20887 |
| 2001 | Health Catalyst Inc.\* | 5983 |
| 1106 | HealthStream Inc. | 27816 |
| 1315 | LifeMD Inc.\* | 5036 |
| 765 | OptimizeRx Corp.\* | 11682 |
| 2350 | Phreesia Inc.\* | 48151 |
| 2367 | Schrodinger Inc.\* | 41565 |
| 763 | Simulations Plus Inc.\* | 12971 |
| 7241 | Teladoc Health Inc.\* | 54959 |
| 4881 | Waystar Holding Corp.\* | 180158 |
|  | Total Health Care Technology | 785194 |
|  **Life Sciences Tools & Services - 1.5%**  | **Life Sciences Tools & Services - 1.5%**  | **Life Sciences Tools & Services - 1.5%**  |
| 4801 | 10X Genomics Inc., Class A Shares\* | 90307 |
| 7177 | Adaptive Biotechnologies Corp.\* | 141100 |
| 29552 | Avantor Inc.\* | 346645 |
| 1860 | Azenta Inc.\* | 66142 |
| 1699 | BioLife Solutions Inc.\* | 45023 |
| 5418 | Bio-Rad Laboratories Inc., Class A Shares\* | 1760091 |
| 33892 | Bio-Techne Corp. | 2186373 |
| 4611 | Bruker Corp. | 225063 |
| 6462 | Charles River Laboratories International Inc.\* | 1151141 |
| 2694 | Codexis Inc.\* | 4661 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** |
|  **Life Sciences Tools & Services - 1.5% - (continued)** | **Life Sciences Tools & Services - 1.5% - (continued)** | **Life Sciences Tools & Services - 1.5% - (continued)** |
| 1543 | CryoPort Inc.\* | $14844 |
| 4520 | Cytek Biosciences Inc.\* | 25538 |
| 3388 | Fortrea Holdings Inc.\* | 43061 |
| 2193 | Ginkgo Bioworks Holdings Inc.\* | 20351 |
| 9242 | ICON PLC, ADR\* | 1709770 |
| 789 | Lifecore Biomedical Inc.\* | 6233 |
| 4400 | Maravai LifeSciences Holdings Inc., Class A Shares\* | 15928 |
| 3837 | MaxCyte Inc.\* | 6753 |
| 984 | Medpace Holdings Inc.\* | 582981 |
| 208 | Mesa Laboratories Inc. | 16682 |
| 2063 | Niagen Bioscience Inc.\* | 13966 |
| 2956 | OmniAb Inc.\* | 5350 |
| 234 | OmniAb Inc., Class CR3 Shares\*(e) |  |
| 234 | OmniAb Inc., Class CR4 Shares\*(e) |  |
| 10144 | Pacific Biosciences of California Inc.\* | 23534 |
| 2210 | Personalis Inc.\* | 23713 |
| 9446 | QIAGEN NV | 451046 |
| 1361 | Quanterix Corp.\* | 9881 |
| 4548 | Quantum-Si Inc.\* | 6413 |
| 2377 | Repligen Corp.\* | 406514 |
| 7433 | Sotera Health Co.\* | 129929 |
| 146312 | Standard BioTools Inc.\* | 219468 |
| 3633 | Tempus AI Inc., Class A Shares\* | 283120 |
|  | Total Life Sciences Tools & Services | 10031621 |
|  **Pharmaceuticals - 0.9%**  | **Pharmaceuticals - 0.9%**  | **Pharmaceuticals - 0.9%**  |
| 2077 | Alumis Inc.\* | 15931 |
| 97641 | Amneal Pharmaceuticals Inc.\* | 1222465 |
| 1780 | Amphastar Pharmaceuticals Inc.\* | 49306 |
| 3156 | Amylyx Pharmaceuticals Inc.\* | 47277 |
| 780 | ANI Pharmaceuticals Inc.\* | 66183 |
| 2797 | Aquestive Therapeutics Inc.\* | 17313 |
| 2409 | Arvinas Inc.\* | 30317 |
| 3220 | Atea Pharmaceuticals Inc.\* | 9982 |
| 3913 | Avadel Pharmaceuticals PLC, ADR\* | 84090 |
| 1811 | Axsome Therapeutics Inc.\* | 274367 |
| 1493 | Collegium Pharmaceutical Inc.\* | 69693 |
| 4115 | Corcept Therapeutics Inc.\* | 326731 |
| 2788 | CorMedix Inc.\* | 27350 |
| 4067 | Crinetics Pharmaceuticals Inc.\* | 185293 |
| 3359 | Edgewise Therapeutics Inc.\* | 87468 |
| 21753 | Elanco Animal Health Inc.\* | 506192 |
| 1733 | Enliven Therapeutics Inc.\* | 37433 |
| 6941 | Esperion Therapeutics Inc.\* | 27833 |
| 1548 | Eton Pharmaceuticals Inc.\* | 25000 |
| 2092 | Evolus Inc.\* | 14979 |
| 2520 | EyePoint Pharmaceuticals Inc.\* | 37372 |
| 2335 | Fulcrum Therapeutics Inc.\* | 25545 |
| 1834 | Harmony Biosciences Holdings Inc.\* | 64722 |
| 1464 | Harrow Inc.\* | 61166 |
| 5465 | Indivior PLC\* | 183624 |
| 2707 | Innoviva Inc.\* | 58823 |
| 2556 | Jazz Pharmaceuticals PLC\* | 451211 |
| 730 | LENZ Therapeutics Inc.\* | 22280 |
| 884 | Ligand Pharmaceuticals Inc.\* | 179611 |
| 2788 | Liquidia Corp.\* | 90972 |
| 697 | Maze Therapeutics Inc.\* | 26312 |
| 447 | MBX Biosciences Inc.\* | 15417 |
| 442 | MediWound Ltd.\* | 7921 |
| 3086 | Mind Medicine MindMed Inc.\* | 39038 |
| 14062 | Nuvation Bio Inc.\* | 112918 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** | **HEALTH CARE - 14.6% - (continued)** |
|  **Pharmaceuticals - 0.9% - (continued)** | **Pharmaceuticals - 0.9% - (continued)** | **Pharmaceuticals - 0.9% - (continued)** |
| 6870 | Ocular Therapeutix Inc.\* | $83471 |
| 2109 | Omeros Corp.\* | 20436 |
| 11469 | Organon & Co. | 88426 |
| 2002 | Pacira BioSciences Inc.\* | 47187 |
| 5944 | Perrigo Co. PLC | 79352 |
| 1403 | Phathom Pharmaceuticals Inc.\* | 21915 |
| 789 | Phibro Animal Health Corp., Class A Shares | 33043 |
| 2139 | Prestige Consumer Healthcare Inc.\* | 127378 |
| 1078 | Rapport Therapeutics Inc.\* | 32027 |
| 717 | Septerna Inc.\* | 20807 |
| 1907 | SIGA Technologies Inc. | 11556 |
| 2481 | Supernus Pharmaceuticals Inc.\* | 113109 |
| 1674 | Tarsus Pharmaceuticals Inc.\* | 133853 |
| 2404 | Terns Pharmaceuticals Inc.\* | 67576 |
| 1412 | Theravance Biopharma Inc.\* | 28664 |
| 866 | Third Harmonic Bio Inc.\*(e) | 4659 |
| 3255 | Trevi Therapeutics Inc.\* | 42934 |
| 51983 | Viatris Inc. | 555698 |
| 4719 | WaVe Life Sciences Ltd.\* | 36620 |
| 6967 | Xeris Biopharma Holdings Inc.\* | 50023 |
| 2080 | Zevra Therapeutics Inc.\* | 17534 |
|  | Total Pharmaceuticals | 6118403 |
|  **Pharmaceuticals, Biotechnology & Life Sciences - 0.0%@** | **Pharmaceuticals, Biotechnology & Life Sciences - 0.0%@** | **Pharmaceuticals, Biotechnology & Life Sciences - 0.0%@** |
| 1045 | AstraZeneca PLC\*(b)(e) | 324 |
| 2089 | Novartis AG\*(b)(e) | 355 |
|  | Total Pharmaceuticals, Biotechnology & Life Sciences | 679 |
|  | **TOTAL HEALTH CARE** | **100689201** |
|  **INDUSTRIALS - 21.7%**  | **INDUSTRIALS - 21.7%**  | **INDUSTRIALS - 21.7%**  |
|  **Aerospace & Defense - 2.2%**  | **Aerospace & Defense - 2.2%**  | **Aerospace & Defense - 2.2%**  |
| 1624 | AAR Corp.\* | 135133 |
| 1397 | Aerovironment Inc.\* | 390406 |
| 1142 | AerSale Corp.\* | 7389 |
| 24469 | Archer Aviation Inc., Class A Shares\* | 190613 |
| 1333 | Astronics Corp.\* | 72742 |
| 6154 | ATI Inc.\* | 620323 |
| 4012 | BWX Technologies Inc. | 717667 |
| 693 | Byrna Technologies Inc.\* | 12647 |
| 1167 | Cadre Holdings Inc. | 49808 |
| 2121 | Carpenter Technology Corp. | 675623 |
| 1662 | Curtiss-Wright Corp. | 937850 |
| 613 | Ducommun Inc.\* | 56206 |
| 1989 | Eve Holding Inc.\* | 7837 |
| 23918 | Hexcel Corp. | 1823269 |
| 1698 | Huntington Ingalls Industries Inc. | 532527 |
| 5351 | Intuitive Machines Inc., Class A Shares\* | 50834 |
| 20495 | Karman Holdings Inc.\* | 1373780 |
| 25064 | Kratos Defense & Security Solutions Inc.\* | 1907370 |
| 3240 | Leonardo DRS Inc. | 110711 |
| 1857 | Loar Holdings Inc.\* | 127112 |
| 27415 | Mercury Systems Inc.\* | 1916034 |
| 1241 | Moog Inc., Class A Shares | 285033 |
| 266 | National Presto Industries Inc. | 24964 |
| 809 | Park Aerospace Corp. | 15686 |
| 1742 | Redwire Corp.\* | 9598 |
| 18242 | Rocket Lab Corp.\* | 768718 |
| 5186 | Spirit AeroSystems Holdings Inc., Class A Shares\* | 190482 |
| 6439 | StandardAero Inc.\* | 168187 |
| 7767 | Textron Inc. | 645904 |
| 881 | V2X Inc.\* | 48323 |
| 874 | VSE Corp. | 157486 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** |
|  **Aerospace & Defense - 2.2% - (continued)** | **Aerospace & Defense - 2.2% - (continued)** | **Aerospace & Defense - 2.2% - (continued)** |
| 2602 | Woodward Inc. | $780678 |
|  | Total Aerospace & Defense | 14810940 |
|  **Air Freight & Logistics - 0.6%**  | **Air Freight & Logistics - 0.6%**  | **Air Freight & Logistics - 0.6%**  |
| 16216 | CH Robinson Worldwide Inc. | 2576236 |
| 941 | Forward Air Corp.\* | 21614 |
| 33770 | GXO Logistics Inc.\* | 1713490 |
| 2856 | Hub Group Inc., Class A Shares | 110156 |
| 1467 | Radiant Logistics Inc.\* | 9154 |
|  | Total Air Freight & Logistics | 4430650 |
|  **Building Products - 1.4%**  | **Building Products - 1.4%**  | **Building Products - 1.4%**  |
| 2962 | AAON Inc. | 276888 |
| 3111 | Advanced Drainage Systems Inc. | 474054 |
| 3755 | Allegion PLC | 623443 |
| 582 | American Woodmark Corp.\* | 32086 |
| 4921 | AO Smith Corp. | 324688 |
| 989 | Apogee Enterprises Inc. | 36009 |
| 1912 | Armstrong World Industries Inc. | 362783 |
| 1323 | AZZ Inc. | 139471 |
| 733 | CSW Industrials Inc. | 199281 |
| 5258 | Fortune Brands Innovations Inc. | 271470 |
| 18617 | Gibraltar Industries Inc.\* | 930105 |
| 1696 | Griffon Corp. | 127200 |
| 9139 | Hayward Holdings Inc.\* | 150337 |
| 902 | Insteel Industries Inc. | 27583 |
| 5582 | Janus International Group Inc.\* | 34664 |
| 3402 | JELD-WEN Holding Inc.\* | 9083 |
| 5199 | Masterbrand Inc.\* | 57657 |
| 2287 | Modine Manufacturing Co.\* | 370791 |
| 3692 | Owens Corning | 418082 |
| 2313 | Quanex Building Products Corp. | 29976 |
| 112393 | Resideo Technologies Inc.\* | 3707845 |
| 1850 | Simpson Manufacturing Co., Inc. | 309653 |
| 1037 | Tecnoglass Inc. | 51622 |
| 4657 | Trex Co., Inc.\* | 162902 |
| 2632 | UFP Industries Inc. | 244750 |
| 6719 | Zurn Elkay Water Solutions Corp. | 320496 |
|  | Total Building Products | 9692919 |
|  **Commercial Services & Supplies - 1.7%**  | **Commercial Services & Supplies - 1.7%**  | **Commercial Services & Supplies - 1.7%**  |
| 2796 | ABM Industries Inc. | 120228 |
| 3556 | ACCO Brands Corp. | 12233 |
| 7953 | ACV Auctions Inc., Class A Shares\* | 62431 |
| 3493 | BrightView Holdings Inc.\* | 44082 |
| 1812 | Brink's Co. (The) | 203542 |
| 28547 | Casella Waste Systems Inc., Class A Shares\* | 2751645 |
| 677 | Cimpress PLC\* | 46611 |
| 6193 | Clean Harbors Inc.\* | 1409279 |
| 4902 | CoreCivic Inc.\* | 88481 |
| 1777 | Deluxe Corp. | 36109 |
| 939 | Ennis Inc. | 16376 |
| 159531 | Enviri Corp.\* | 2925799 |
| 6145 | GEO Group Inc. (The)\* | 96845 |
| 3446 | Healthcare Services Group Inc.\* | 64716 |
| 2098 | HNI Corp. | 87109 |
| 2521 | Interface Inc., Class A Shares | 70361 |
| 1006 | Liquidity Services Inc.\* | 30220 |
| 3079 | MillerKnoll Inc. | 48741 |
| 1202 | Montrose Environmental Group Inc.\* | 30831 |
| 1612 | MSA Safety Inc. | 260016 |
| 94053 | OPENLANE Inc.\* | 2392708 |
| 698 | Perma-Fix Environmental Services Inc.\* | 8565 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** |
|  **Commercial Services & Supplies - 1.7% - (continued)** | **Commercial Services & Supplies - 1.7% - (continued)** | **Commercial Services & Supplies - 1.7% - (continued)** |
| 4576 | Pitney Bowes Inc. | $45119 |
| 1177 | Quad/Graphics Inc. | 6756 |
| 3718 | Steelcase Inc., Class A Shares | 60566 |
| 11507 | Tetra Tech Inc. | 399753 |
| 644 | UniFirst Corp. | 111122 |
| 5470 | Vestis Corp. | 35446 |
| 459 | Virco Mfg. Corp. | 3231 |
|  | Total Commercial Services & Supplies | 11468921 |
|  **Construction & Engineering - 3.6%**  | **Construction & Engineering - 3.6%**  | **Construction & Engineering - 3.6%**  |
| 5791 | AECOM | 597226 |
| 1214 | Ameresco Inc., Class A Shares\* | 42138 |
| 52210 | API Group Corp.\* | 2065428 |
| 21336 | Arcosa Inc. | 2273137 |
| 570 | Argan Inc. | 225264 |
| 487 | Bowman Consulting Group Ltd.\* | 17620 |
| 3176 | Centuri Holdings Inc.\* | 71428 |
| 7330 | Comfort Systems USA Inc. | 7160970 |
| 834 | Concrete Pumping Holdings Inc. | 5246 |
| 2056 | Construction Partners Inc., Class A Shares\* | 224104 |
| 1232 | Dycom Industries Inc.\* | 445405 |
| 1941 | EMCOR Group Inc. | 1193851 |
| 2227 | Everus Construction Group Inc.\* | 204795 |
| 34781 | Fluor Corp.\* | 1493148 |
| 1927 | Granite Construction Inc. | 207210 |
| 3339 | Great Lakes Dredge & Dock Corp.\* | 42639 |
| 382 | IES Holdings Inc.\* | 159894 |
| 45520 | Legence Corp., Class A Shares\* | 2093010 |
| 469 | Limbach Holdings Inc.\* | 33182 |
| 2766 | MasTec Inc.\* | 591592 |
| 966 | Matrix Service Co.\* | 11293 |
| 679 | MYR Group Inc.\* | 152313 |
| 345 | NWPX Infrastructure Inc.\* | 20224 |
| 2083 | Orion Group Holdings Inc.\* | 20830 |
| 22824 | Primoris Services Corp. | 2888605 |
| 1319 | Sterling Infrastructure Inc.\* | 454145 |
| 1932 | Tutor Perini Corp.\* | 132439 |
| 883 | Valmont Industries Inc. | 364652 |
| 66902 | WillScot Holdings Corp. | 1321314 |
|  | Total Construction & Engineering | 24513102 |
|  **Electrical Equipment - 2.3%**  | **Electrical Equipment - 2.3%**  | **Electrical Equipment - 2.3%**  |
| 1363 | Acuity Inc. | 499430 |
| 552 | Allient Inc. | 29731 |
| 1893 | American Superconductor Corp.\* | 58853 |
| 4343 | Amprius Technologies Inc.\* | 49163 |
| 6896 | Array Technologies Inc.\* | 51789 |
| 1513 | Atkore Inc. | 101295 |
| 154657 | Babcock & Wilcox Enterprises Inc.\* | 966606 |
| 35800 | Bloom Energy Corp., Class A Shares\* | 3910792 |
| 1696 | EnerSys | 242714 |
| 7433 | Enovix Corp.\* | 57903 |
| 11233 | Eos Energy Enterprises Inc.\* | 169057 |
| 3495 | Fluence Energy Inc., Class A Shares\* | 68642 |
| 2581 | Generac Holdings Inc.\* | 391357 |
| 5642 | Hyliion Holdings Corp.\* | 10607 |
| 1058 | LSI Industries Inc. | 19351 |
| 1388 | NANO Nuclear Energy Inc.\*(a) | 45388 |
| 3716 | Net Power Inc.\* | 10776 |
| 38082 | Nextpower Inc., Class A Shares\* | 3489073 |
| 5595 | NuScale Power Corp.\* | 111900 |
| 7190 | nVent Electric PLC | 771271 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** |
|  **Electrical Equipment - 2.3% - (continued)** | **Electrical Equipment - 2.3% - (continued)** | **Electrical Equipment - 2.3% - (continued)** |
| 48866 | Plug Power Inc.\* | $98221 |
| 405 | Powell Industries Inc. | 130904 |
| 332 | Power Solutions International Inc.\* | 17955 |
| 90 | Preformed Line Products Co. | 18472 |
| 26980 | Regal Rexnord Corp. | 3938810 |
| 6680 | Sensata Technologies Holding PLC | 214228 |
| 6364 | Shoals Technologies Group Inc., Class A Shares\* | 53394 |
| 9262 | Sunrun Inc.\* | 187555 |
| 4089 | T1 Energy Inc.\* | 16847 |
| 1536 | Thermon Group Holdings Inc.\* | 53914 |
| 997 | Vicor Corp.\* | 89082 |
|  | Total Electrical Equipment | 15875080 |
|  **Ground Transportation - 1.0%**  | **Ground Transportation - 1.0%**  | **Ground Transportation - 1.0%**  |
| 17956 | ArcBest Corp. | 1152237 |
| 754 | Avis Budget Group Inc.\* | 102454 |
| 3808 | FTAI Infrastructure Inc. | 16298 |
| 6024 | Hertz Global Holdings Inc.\* | 31566 |
| 39553 | Knight-Swift Transportation Holdings Inc., Class A Shares | 1811527 |
| 1517 | Landstar System Inc. | 198484 |
| 17493 | Lyft Inc., Class A Shares\* | 367878 |
| 2604 | Marten Transport Ltd. | 26691 |
| 511 | Proficient Auto Logistics Inc.\* | 4170 |
| 7059 | RXO Inc.\* | 93320 |
| 1720 | Ryder System Inc. | 297921 |
| 7222 | Saia Inc.\* | 2033426 |
| 2157 | Schneider National Inc., Class B Shares | 48770 |
| 4662 | U-Haul Holding Co. | 224289 |
| 242 | U-Haul Holding Co.\* | 12741 |
| 261 | Universal Logistics Holdings Inc. | 3920 |
| 2582 | Werner Enterprises Inc. | 65996 |
| 5050 | XPO Inc.\* | 717403 |
|  | Total Ground Transportation | 7209091 |
|  **Industrial Conglomerates - 0.0%@** | **Industrial Conglomerates - 0.0%@** | **Industrial Conglomerates - 0.0%@** |
| 1332 | Brookfield Business Corp., Class A Shares | 46434 |
|  **Machinery - 3.7%**  | **Machinery - 3.7%**  | **Machinery - 3.7%**  |
| 4809 | 3D Systems Corp.\* | 10003 |
| 1362 | Aebi Schmidt Holding AG | 16221 |
| 2739 | AGCO Corp. | 290224 |
| 460 | Alamo Group Inc. | 73770 |
| 8884 | Albany International Corp., Class A Shares | 423589 |
| 3641 | Allison Transmission Holdings Inc. | 322811 |
| 1055 | Astec Industries Inc. | 46694 |
| 3595 | Atmus Filtration Technologies Inc. | 181943 |
| 1420 | Blue Bird Corp.\* | 74152 |
| 1131 | CECO Environmental Corp.\* | 58982 |
| 1987 | Chart Industries Inc.\* | 405249 |
| 92472 | CNH Industrial NV | 872011 |
| 1561 | Columbus McKinnon Corp. | 25663 |
| 2161 | Crane Co. | 396003 |
| 5135 | Donaldson Co., Inc. | 461636 |
| 1132 | Douglas Dynamics Inc. | 36575 |
| 273 | Eastern Co. (The) | 5324 |
| 2593 | Energy Recovery Inc.\* | 37469 |
| 2426 | Enerpac Tool Group Corp., Class A Shares | 91873 |
| 973 | Enpro Inc. | 216833 |
| 2545 | Esab Corp. | 285651 |
| 1150 | ESCO Technologies Inc. | 244847 |
| 2631 | Federal Signal Corp. | 299934 |
| 5674 | Flowserve Corp. | 404840 |
| 1818 | Franklin Electric Co., Inc. | 172983 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** |
|  **Machinery - 3.7% - (continued)** | **Machinery - 3.7% - (continued)** | **Machinery - 3.7% - (continued)** |
| 11482 | Gates Industrial Corp. PLC\* | $261330 |
| 401 | Gencor Industries Inc.\* | 5377 |
| 917 | Gorman-Rupp Co. (The) | 42631 |
| 7237 | Graco Inc. | 596618 |
| 421 | Graham Corp.\* | 24208 |
| 1467 | Greenbrier Cos., Inc. (The) | 65252 |
| 17076 | Helios Technologies Inc. | 921933 |
| 3074 | Hillenbrand Inc. | 97876 |
| 8182 | Hillman Solutions Corp.\* | 71593 |
| 635 | Hyster-Yale Inc. | 18466 |
| 20139 | ITT Inc. | 3708798 |
| 11953 | JBT Marel Corp. | 1679755 |
| 505 | Kadant Inc. | 140451 |
| 3688 | Kennametal Inc. | 102084 |
| 327 | LB Foster Co., Class A Shares\* | 8822 |
| 2383 | Lincoln Electric Holdings Inc. | 570562 |
| 453 | Lindsay Corp. | 52063 |
| 1171 | Luxfer Holdings PLC, ADR | 14638 |
| 1152 | Manitowoc Co., Inc. (The)\* | 12995 |
| 556 | Mayville Engineering Co., Inc.\* | 9446 |
| 10071 | Microvast Holdings Inc.\* | 35450 |
| 2189 | Middleby Corp. (The)\* | 258740 |
| 420 | Miller Industries Inc. | 16271 |
| 4731 | Mueller Industries Inc. | 519795 |
| 6661 | Mueller Water Products Inc., Class A Shares | 161463 |
| 2366 | Nordson Corp. | 562304 |
| 108 | Omega Flex Inc. | 2927 |
| 15647 | Oshkosh Corp. | 2005632 |
| 333 | Park-Ohio Holdings Corp. | 7130 |
| 21272 | Pentair PLC | 2238665 |
| 1146 | Proto Labs Inc.\* | 58240 |
| 1368 | RBC Bearings Inc.\* | 608719 |
| 2132 | REV Group Inc. | 113572 |
| 2238 | Snap-on Inc. | 761032 |
| 6366 | SPX Technologies Inc.\* | 1368945 |
| 503 | Standex International Corp. | 123315 |
| 6785 | Stanley Black & Decker Inc. | 485263 |
| 110427 | Stratasys Ltd.\* | 970653 |
| 851 | Tennant Co. | 62234 |
| 2949 | Terex Corp. | 136273 |
| 2796 | Timken Co. (The) | 227566 |
| 1948 | Titan International Inc.\* | 15759 |
| 4271 | Toro Co. (The) | 297860 |
| 3602 | Trinity Industries Inc. | 95525 |
| 1794 | Wabash National Corp. | 15141 |
| 1196 | Watts Water Technologies Inc., Class A Shares | 329952 |
| 1348 | Worthington Enterprises Inc. | 73951 |
|  | Total Machinery | 25412555 |
|  **Marine Transportation - 0.5%**  | **Marine Transportation - 0.5%**  | **Marine Transportation - 0.5%**  |
| 328 | Costamare Bulkers Holdings Ltd.\* | 5402 |
| 1644 | Costamare Inc. | 25104 |
| 1923 | Genco Shipping & Trading Ltd. | 36383 |
| 1059 | Himalaya Shipping Ltd.\* | 9520 |
| 17048 | Kirby Corp.\* | 1935289 |
| 1421 | Matson Inc. | 154861 |
| 1037 | Pangaea Logistics Solutions Ltd. | 7280 |
| 2124 | Safe Bulkers Inc. | 11236 |
| 65215 | Star Bulk Carriers Corp. | 1297778 |
|  | Total Marine Transportation | 3482853 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** |
|  **Passenger Airlines - 0.2%**  | **Passenger Airlines - 0.2%**  | **Passenger Airlines - 0.2%**  |
| 4992 | Alaska Air Group Inc.\* | $213957 |
| 743 | Allegiant Travel Co.\* | 56468 |
| 29075 | American Airlines Group Inc.\* | 408504 |
| 16161 | JetBlue Airways Corp.\* | 73856 |
| 20191 | Joby Aviation Inc.\* | 291356 |
| 1804 | SkyWest Inc.\* | 183142 |
| 2695 | Sun Country Airlines Holdings Inc.\* | 36921 |
|  | Total Passenger Airlines | 1264204 |
|  **Professional Services - 1.9%**  | **Professional Services - 1.9%**  | **Professional Services - 1.9%**  |
| 189555 | Alight Inc., Class A Shares | 437872 |
| 7116 | Amentum Holdings Inc.\* | 203731 |
| 986 | Asure Software Inc.\* | 7888 |
| 1114 | Barrett Business Services Inc. | 39090 |
| 1542 | BlackSky Technology Inc., Class A Shares\* | 27324 |
| 3610 | CACI International Inc., Class A Shares\* | 2227731 |
| 2148 | CBIZ Inc.\* | 104608 |
| 17951 | Clarivate PLC\* | 67496 |
| 2001 | Concentrix Corp. | 72456 |
| 304376 | Conduent Inc.\* | 590489 |
| 293 | CRA International Inc. | 51668 |
| 1280 | CSG Systems International Inc. | 100826 |
| 6861 | Dayforce Inc.\* | 474095 |
| 6828 | ExlService Holdings Inc.\* | 271277 |
| 2202 | Exponent Inc. | 159205 |
| 85526 | First Advantage Corp.\* | 1187101 |
| 386 | Forrester Research Inc.\* | 2775 |
| 392 | Franklin Covey Co.\* | 6162 |
| 1353 | FTI Consulting Inc.\* | 220742 |
| 7141 | Genpact Ltd. | 314633 |
| 946 | Heidrick & Struggles International Inc. | 55691 |
| 853 | HireQuest Inc. | 7413 |
| 758 | Huron Consulting Group Inc.\* | 124774 |
| 603 | IBEX Holdings Ltd.\* | 21220 |
| 809 | ICF International Inc. | 63134 |
| 1237 | Innodata Inc.\* | 71090 |
| 1550 | Insperity Inc. | 54824 |
| 66707 | KBR Inc. | 2749663 |
| 1238 | Kelly Services Inc., Class A Shares | 10696 |
| 823 | Kforce Inc. | 24196 |
| 2220 | Korn Ferry | 146009 |
| 5156 | Legalzoom.com Inc.\* | 48106 |
| 2132 | ManpowerGroup Inc. | 61316 |
| 2486 | Maximus Inc. | 214020 |
| 777 | Mistras Group Inc.\* | 9316 |
| 2377 | Parsons Corp.\* | 201284 |
| 1924 | Paylocity Holding Corp.\* | 283463 |
| 10001 | Planet Labs PBC\* | 119012 |
| 152 | Resolute Holdings Management Inc.\* | 27001 |
| 1137 | Resources Connection Inc. | 5497 |
| 48135 | Robert Half Inc. | 1301570 |
| 2020 | Science Applications International Corp. | 174144 |
| 793 | Spire Global Inc.\* | 6495 |
| 7422 | TIC Solutions Inc.\* | 72142 |
| 1258 | TriNet Group Inc. | 73719 |
| 920 | TrueBlue Inc.\* | 4508 |
| 988 | TTEC Holdings Inc.\* | 3320 |
| 5380 | Upwork Inc.\* | 106201 |
| 7355 | Verra Mobility Corp., Class A Shares\* | 160486 |
| 657 | Willdan Group Inc.\* | 66291 |
|  | Total Professional Services | 12833770 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** | **INDUSTRIALS - 21.7% - (continued)** |
|  **Trading Companies & Distributors - 2.6%**  | **Trading Companies & Distributors - 2.6%**  | **Trading Companies & Distributors - 2.6%**  |
| 29022 | AerCap Holdings NV | $3888948 |
| 4748 | Air Lease Corp., Class A Shares | 303540 |
| 1046 | Alta Equipment Group Inc. | 5104 |
| 8518 | Applied Industrial Technologies Inc. | 2204629 |
| 316 | BlueLinx Holdings Inc.\* | 19715 |
| 5633 | Boise Cascade Co. | 429460 |
| 32388 | Core & Main Inc., Class A Shares\* | 1565636 |
| 1832 | Custom Truck One Source Inc.\* | 11706 |
| 434 | Distribution Solutions Group Inc.\* | 12048 |
| 8506 | DNOW Inc.\* | 118744 |
| 564 | DXP Enterprises Inc.\* | 53010 |
| 261 | EVI Industries Inc. | 5335 |
| 30615 | FTAI Aviation Ltd. | 5303743 |
| 9972 | GATX Corp. | 1594822 |
| 459 | Global Industrial Co. | 13146 |
| 1395 | Herc Holdings Inc. | 187307 |
| 1643 | Hudson Technologies Inc.\* | 11172 |
| 224 | Karat Packaging Inc. | 4937 |
| 1041 | McGrath RentCorp. | 107306 |
| 1880 | MSC Industrial Direct Co., Inc., Class A Shares | 167245 |
| 4000 | NPK International Inc.\* | 49240 |
| 26954 | QXO Inc.\* | 504848 |
| 2665 | Rush Enterprises Inc., Class A Shares | 138740 |
| 410 | Rush Enterprises Inc., Class B Shares | 21882 |
| 1966 | SiteOne Landscape Supply Inc.\* | 263994 |
| 751 | Titan Machinery Inc.\* | 13909 |
| 420 | Transcat Inc.\* | 23747 |
| 1521 | Watsco Inc. | 526874 |
| 2114 | WESCO International Inc. | 565305 |
| 114 | Willis Lease Finance Corp. | 13989 |
| 1809 | Xometry Inc., Class A Shares\* | 105772 |
|  | Total Trading Companies & Distributors | 18235853 |
|  **Transportation Infrastructure - 0.0%@** | **Transportation Infrastructure - 0.0%@** | **Transportation Infrastructure - 0.0%@** |
| 429 | Sky Harbour Group Corp., Class A Shares\* | 3964 |
|  | **TOTAL INDUSTRIALS** | **149280336** |
|  **INFORMATION TECHNOLOGY - 17.2%**  | **INFORMATION TECHNOLOGY - 17.2%**  | **INFORMATION TECHNOLOGY - 17.2%**  |
|  **Communications Equipment - 2.1%**  | **Communications Equipment - 2.1%**  | **Communications Equipment - 2.1%**  |
| 3184 | ADTRAN Holdings Inc.\* | 25249 |
| 2211 | Applied Optoelectronics Inc.\* | 59211 |
| 458 | Aviat Networks Inc.\* | 10126 |
| 36814 | Calix Inc.\* | 2034710 |
| 20887 | Ciena Corp.\* | 4265334 |
| 426 | Clearfield Inc.\* | 12507 |
| 9445 | CommScope Holding Co., Inc.\* | 186444 |
| 1584 | Digi International Inc.\* | 66259 |
| 5828 | Extreme Networks Inc.\* | 101990 |
| 2515 | F5 Inc.\* | 601488 |
| 15838 | Harmonic Inc.\* | 151411 |
| 3044 | Lumentum Holdings Inc.\* | 989787 |
| 1371 | NETGEAR Inc.\* | 36263 |
| 2911 | NetScout Systems Inc.\* | 78248 |
| 354098 | Ribbon Communications Inc.\* | 1012720 |
| 140897 | ViaSat Inc.\* | 4836994 |
| 9690 | Viavi Solutions Inc.\* | 173839 |
|  | Total Communications Equipment | 14642580 |
|  **Electronic Equipment, Instruments & Components - 3.8%**  | **Electronic Equipment, Instruments & Components - 3.8%**  | **Electronic Equipment, Instruments & Components - 3.8%**  |
| 1798 | 908 Devices Inc.\* | 11417 |
| 1702 | Advanced Energy Industries Inc. | 359445 |
| 1534 | Aeva Technologies Inc.\* | 17104 |
| 4325 | Arlo Technologies Inc.\* | 62713 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** |
|  **Electronic Equipment, Instruments & Components - 3.8% - (continued)** | **Electronic Equipment, Instruments & Components - 3.8% - (continued)** | **Electronic Equipment, Instruments & Components - 3.8% - (continued)** |
| 2238 | Arrow Electronics Inc.\* | $241726 |
| 27780 | Avnet Inc. | 1319828 |
| 1278 | Badger Meter Inc. | 228174 |
| 83 | Bel Fuse Inc., Class A Shares | 10918 |
| 487 | Bel Fuse Inc., Class B Shares | 75013 |
| 1748 | Belden Inc. | 198223 |
| 1573 | Benchmark Electronics Inc. | 70675 |
| 168 | Climb Global Solutions Inc. | 16978 |
| 7404 | Cognex Corp. | 282092 |
| 16892 | Coherent Corp.\* | 2774680 |
| 22065 | Crane NXT Co. | 1242260 |
| 1303 | CTS Corp. | 55156 |
| 1966 | Daktronics Inc.\* | 37216 |
| 1102 | ePlus Inc. | 98739 |
| 4863 | Evolv Technologies Holdings Inc.\* | 31075 |
| 7186 | Fabrinet\* | 3301320 |
| 16531 | Flex Ltd.\* | 977147 |
| 1142 | Ingram Micro Holding Corp. | 24450 |
| 74676 | Innoviz Technologies Ltd.\* | 95585 |
| 1230 | Insight Enterprises Inc.\* | 106481 |
| 34911 | IPG Photonics Corp.\* | 2780312 |
| 10466 | Itron Inc.\* | 1036553 |
| 4633 | Jabil Inc. | 976219 |
| 875 | Kimball Electronics Inc.\* | 25288 |
| 3827 | Knowles Corp.\* | 86031 |
| 1080 | Littelfuse Inc. | 276502 |
| 1435 | Methode Electronics Inc. | 10877 |
| 8847 | MicroVision Inc.\* | 8333 |
| 9726 | Mirion Technologies Inc., Class A Shares\* | 253071 |
| 1636 | Napco Security Technologies Inc. | 66094 |
| 33978 | nLight Inc.\* | 1197045 |
| 1598 | Novanta Inc.\* | 181629 |
| 8601 | OSI Systems Inc.\* | 2329581 |
| 2302 | Ouster Inc.\* | 52854 |
| 553 | PC Connection Inc. | 32096 |
| 1152 | Plexus Corp.\* | 164678 |
| 5191 | Powerfleet Inc.\* | 25799 |
| 3983 | Red Cat Holdings Inc.\* | 29554 |
| 409 | Richardson Electronics Ltd. | 4278 |
| 7149 | Rogers Corp.\* | 599158 |
| 2314 | Sanmina Corp.\* | 361366 |
| 954 | ScanSource Inc.\* | 39228 |
| 13193 | TD SYNNEX Corp. | 2011669 |
| 2671 | Teledyne Technologies Inc.\* | 1334218 |
| 4529 | TTM Technologies Inc.\* | 317845 |
| 5247 | Vishay Intertechnology Inc. | 71727 |
| 436 | Vishay Precision Group Inc.\* | 14885 |
| 6438 | Vontier Corp. | 233571 |
|  | Total Electronic Equipment, Instruments & Components | 26158876 |
|  **IT Services - 1.0%**  | **IT Services - 1.0%**  | **IT Services - 1.0%**  |
| 4792 | Amdocs Ltd. | 366492 |
| 38601 | Applied Digital Corp.\* | 1046087 |
| 1900 | ASGN Inc.\* | 85519 |
| 1475 | Backblaze Inc., Class A Shares\* | 6991 |
| 13588 | BigBear.ai Holdings Inc.\* | 86148 |
| 2700 | Commerce.com Inc.\* | 12393 |
| 3091 | DigitalOcean Holdings Inc.\* | 137611 |
| 7901 | DXC Technology Co.\* | 104293 |
| 2450 | EPAM Systems Inc.\* | 458150 |
| 5564 | Fastly Inc., Class A Shares\* | 64876 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** |
|  **IT Services - 1.0% - (continued)** | **IT Services - 1.0% - (continued)** | **IT Services - 1.0% - (continued)** |
| 18012 | Globant SA\* | $1146104 |
| 2908 | Grid Dynamics Holdings Inc.\* | 25474 |
| 959 | Hackett Group Inc. (The) | 17713 |
| 1768 | Information Services Group Inc. | 9512 |
| 100276 | Kyndryl Holdings Inc.\* | 2590129 |
| 2984 | Rackspace Technology Inc.\* | 3163 |
| 879 | TSS Inc.\* | 8465 |
| 342 | Tucows Inc., Class A Shares\* | 7411 |
| 120245 | Unisys Corp.\* | 322257 |
| 3278 | VTEX, Class A Shares\* | 13604 |
| 6156 | Wix.com Ltd.\* | 589191 |
|  | Total IT Services | 7101583 |
|  **Semiconductors & Semiconductor Equipment - 4.8%**  | **Semiconductors & Semiconductor Equipment - 4.8%**  | **Semiconductors & Semiconductor Equipment - 4.8%**  |
| 2256 | ACM Research Inc., Class A Shares\* | 75373 |
| 1161 | Aehr Test Systems\* | 26668 |
| 5289 | Allegro MicroSystems Inc.\* | 141163 |
| 889 | Alpha & Omega Semiconductor Ltd.\* | 18029 |
| 1812 | Ambarella Inc.\* | 134414 |
| 5035 | Amkor Technology Inc. | 183224 |
| 5541 | Astera Labs Inc.\* | 873095 |
| 1430 | Axcelis Technologies Inc.\* | 118361 |
| 18098 | CEVA Inc.\* | 390736 |
| 2242 | Cirrus Logic Inc.\* | 269802 |
| 1822 | Cohu Inc.\* | 44311 |
| 18378 | Credo Technology Group Holding Ltd.\* | 3263933 |
| 1958 | Diodes Inc.\* | 90479 |
| 5727 | Enphase Energy Inc.\* | 165224 |
| 40622 | FormFactor Inc.\* | 2235022 |
| 1236 | Ichor Holdings Ltd.\* | 20765 |
| 1142 | Impinj Inc.\* | 196276 |
| 136821 | indie Semiconductor Inc., Class A Shares\* | 487083 |
| 2290 | Kulicke & Soffa Industries Inc. | 103302 |
| 30622 | Lattice Semiconductor Corp.\* | 2149971 |
| 16867 | MACOM Technology Solutions Holdings Inc.\* | 2951556 |
| 3682 | MaxLinear Inc., Class A Shares\* | 57329 |
| 11677 | MKS Inc. | 1826166 |
| 5859 | Navitas Semiconductor Corp., Class A Shares\* | 51208 |
| 165 | NVE Corp. | 10550 |
| 26002 | ON Semiconductor Corp.\* | 1306341 |
| 11996 | Onto Innovation Inc.\* | 1717347 |
| 1170 | PDF Solutions Inc.\* | 31707 |
| 2394 | Penguin Solutions Inc.\* | 48431 |
| 2695 | Photronics Inc.\* | 61742 |
| 2466 | Power Integrations Inc. | 82858 |
| 3738 | Qorvo Inc.\* | 321057 |
| 45762 | Rambus Inc.\* | 4373474 |
| 40368 | Rigetti Computing Inc.\* | 1032210 |
| 52211 | Semtech Corp.\* | 3871968 |
| 1483 | Silicon Laboratories Inc.\* | 189201 |
| 942 | SiTime Corp.\* | 280433 |
| 1020 | SkyWater Technology Inc.\* | 15698 |
| 6571 | Skyworks Solutions Inc. | 433357 |
| 1700 | Synaptics Inc.\* | 116467 |
| 2035 | Ultra Clean Holdings Inc.\* | 51608 |
| 1968 | Universal Display Corp. | 234054 |
| 90040 | Veeco Instruments Inc.\* | 2631869 |
|  | Total Semiconductors & Semiconductor Equipment | 32683862 |
|  **Software - 4.9%**  | **Software - 4.9%**  | **Software - 4.9%**  |
| 4737 | 8x8 Inc.\* | 9190 |
| 3026 | A10 Networks Inc. | 52108 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** |
|  **Software - 4.9% - (continued)** | **Software - 4.9% - (continued)** | **Software - 4.9% - (continued)** |
| 28403 | ACI Worldwide Inc.\* | $1330965 |
| 77029 | Adeia Inc. | 952849 |
| 1146 | Agilysys Inc.\* | 140912 |
| 1966 | Alarm.com Holdings Inc.\* | 102153 |
| 77753 | Alkami Technology Inc.\* | 1657694 |
| 3725 | Amplitude Inc., Class A Shares\* | 38293 |
| 958 | Appfolio Inc., Class A Shares\* | 218692 |
| 1783 | Appian Corp., Class A Shares\* | 72033 |
| 996 | Arteris Inc.\* | 14283 |
| 3638 | Asana Inc., Class A Shares\* | 46857 |
| 270 | AudioEye Inc.\* | 3337 |
| 46347 | Aurora Innovation Inc., Class A Shares\* | 194194 |
| 5581 | AvePoint Inc.\* | 72553 |
| 6820 | Bentley Systems Inc., Class B Shares | 286167 |
| 4169 | BILL Holdings Inc.\* | 209075 |
| 14871 | Bit Digital Inc.\* | 35393 |
| 4006 | Bitdeer Technologies Group, Class A Shares\* | 53720 |
| 1758 | Blackbaud Inc.\* | 99116 |
| 2345 | BlackLine Inc.\* | 133642 |
| 10436 | Blend Labs Inc., Class A Shares\* | 32978 |
| 6060 | Box Inc., Class A Shares\* | 179012 |
| 65128 | Braze Inc., Class A Shares\* | 1869174 |
| 5578 | C3.ai Inc., Class A Shares\* | 80602 |
| 24219 | CCC Intelligent Solutions Holdings Inc.\* | 180432 |
| 2375 | Cerence Inc.\* | 26315 |
| 1400 | Chaince Digital Holdings Inc. ADR\* | 13496 |
| 11742 | Cipher Mining Inc.\* | 238950 |
| 11741 | Cleanspark Inc.\* | 177289 |
| 3698 | Clear Secure Inc., Class A Shares | 131279 |
| 10818 | Clearwater Analytics Holdings Inc., Class A Shares\* | 238645 |
| 133684 | Cognyte Software Ltd.\* | 1122946 |
| 18160 | Commvault Systems Inc.\* | 2242760 |
| 12460 | Confluent Inc., Class A Shares\* | 277235 |
| 750 | Consensus Cloud Solutions Inc.\* | 16380 |
| 12194 | Core Scientific Inc.\* | 205957 |
| 934 | CS Disco Inc.\* | 6687 |
| 51 | Daily Journal Corp.\* | 23378 |
| 10058 | Descartes Systems Group Inc. (The)\* | 828980 |
| 621 | Digimarc Corp.\*(a) | 4974 |
| 3618 | Digital Turbine Inc.\* | 17330 |
| 2624 | Dolby Laboratories Inc., Class A Shares | 176989 |
| 1305 | Domo Inc., Class B Shares\* | 14929 |
| 8143 | Dropbox Inc., Class A Shares\* | 243313 |
| 13482 | D-Wave Quantum Inc.\* | 305637 |
| 65014 | Dynatrace Inc.\* | 2897024 |
| 816 | eGain Corp.\* | 8503 |
| 3983 | Elastic NV\* | 280921 |
| 901 | EverCommerce Inc.\* | 7821 |
| 3363 | Five9 Inc.\* | 65881 |
| 9268 | Freshworks Inc., Class A Shares\* | 112514 |
| 23964 | Gen Digital Inc. | 631931 |
| 6020 | Gitlab Inc., Class A Shares\* | 247181 |
| 3670 | Guidewire Software Inc.\* | 792647 |
| 4164 | Hut 8 Corp.\* | 187380 |
| 825 | I3 Verticals Inc., Class A Shares\* | 19528 |
| 2606 | Intapp Inc.\* | 112553 |
| 1121 | InterDigital Inc. | 401038 |
| 3703 | Jamf Holding Corp.\* | 47880 |
| 4119 | Kaltura Inc.\* | 6055 |
| 770 | Life360 Inc.\* | 61300 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** |
|  **Software - 4.9% - (continued)** | **Software - 4.9% - (continued)** | **Software - 4.9% - (continued)** |
| 23264 | LiveRamp Holdings Inc.\* | $671166 |
| 2618 | Manhattan Associates Inc.\* | 461946 |
| 16341 | MARA Holdings Inc.\* | 192987 |
| 1693 | Mitek Systems Inc.\* | 15000 |
| 2661 | N-able Inc.\* | 19159 |
| 4624 | nCino Inc.\* | 114213 |
| 33489 | NCR Voyix Corp.\* | 338574 |
| 4128 | NextNav Inc.\* | 58659 |
| 6298 | Nice Ltd., ADR\* | 668029 |
| 11142 | Nutanix Inc., Class A Shares\* | 532588 |
| 1099 | ON24 Inc.\* | 6220 |
| 38863 | OneSpan Inc. | 474129 |
| 898 | Ooma Inc.\* | 10094 |
| 1992 | Pagaya Technologies Ltd., Class A Shares\* | 49700 |
| 4303 | PagerDuty Inc.\* | 51636 |
| 1962 | PAR Technology Corp.\* | 67709 |
| 3850 | Pegasystems Inc. | 210864 |
| 3901 | Porch Group Inc.\* | 37801 |
| 36610 | Procore Technologies Inc.\* | 2711337 |
| 1865 | Progress Software Corp.\* | 77230 |
| 2142 | PROS Holdings Inc.\* | 49780 |
| 2650 | Q2 Holdings Inc.\* | 191144 |
| 1549 | Qualys Inc.\* | 218177 |
| 24093 | Radware Ltd.\* | 552693 |
| 2706 | Rapid7 Inc.\* | 42430 |
| 591 | Red Violet Inc. | 32026 |
| 440 | ReposiTrak Inc. | 5931 |
| 7239 | Rezolve AI PLC\* | 22079 |
| 1777 | Rimini Street Inc.\* | 6770 |
| 3501 | RingCentral Inc., Class A Shares\* | 98868 |
| 15342 | Riot Platforms Inc.\* | 247466 |
| 5126 | Rubrik Inc., Class A Shares\* | 355334 |
| 2749 | SailPoint Inc.\* | 50637 |
| 1437 | Sapiens International Corp. NV | 62179 |
| 2088 | SEMrush Holdings Inc., Class A Shares\* | 24701 |
| 13575 | SentinelOne Inc., Class A Shares\* | 220051 |
| 16117 | SoundHound AI Inc., Class A Shares\* | 194210 |
| 355 | SoundThinking Inc.\* | 2208 |
| 5526 | Sprinklr Inc., Class A Shares\* | 39953 |
| 2096 | Sprout Social Inc., Class A Shares\* | 20897 |
| 1654 | SPS Commerce Inc.\* | 137811 |
| 2026 | Telos Corp.\* | 11710 |
| 5310 | Tenable Holdings Inc.\* | 140821 |
| 4074 | Teradata Corp.\* | 116679 |
| 12483 | Terawulf Inc.\* | 193611 |
| 77087 | UiPath Inc., Class A Shares\* | 1068426 |
| 13924 | Unity Software Inc.\* | 592048 |
| 35418 | Varonis Systems Inc., Class B Shares\* | 1171273 |
| 2904 | Vertex Inc., Class A Shares\* | 57122 |
| 609 | Viant Technology Inc., Class A Shares\* | 6461 |
| 3561 | Weave Communications Inc.\* | 22719 |
| 2189 | Workiva Inc., Class A Shares\* | 202614 |
| 59909 | Xperi Inc.\* | 346873 |
| 4069 | Yext Inc.\* | 34261 |
| 7963 | Zeta Global Holdings Corp., Class A Shares\* | 145325 |
|  | Total Software | 33713379 |
|  **Technology Hardware, Storage & Peripherals - 0.6%**  | **Technology Hardware, Storage & Peripherals - 0.6%**  | **Technology Hardware, Storage & Peripherals - 0.6%**  |
| 1944 | CompoSecure Inc., Class A Shares\* | 38627 |
| 1757 | Corsair Gaming Inc.\* | 11456 |
| 236 | CPI Card Group Inc.\* | 3188 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** | **INFORMATION TECHNOLOGY - 17.2% - (continued)** |
|  **Technology Hardware, Storage & Peripherals - 0.6% - (continued)** | **Technology Hardware, Storage & Peripherals - 0.6% - (continued)** | **Technology Hardware, Storage & Peripherals - 0.6% - (continued)** |
| 1149 | Diebold Nixdorf Inc.\* | $74134 |
| 3641 | Eastman Kodak Co.\* | 27817 |
| 1164 | Immersion Corp. | 8276 |
| 27200 | IonQ Inc.\* | 1340960 |
| 13701 | Pure Storage Inc., Class A Shares\* | 1218841 |
| 5969 | Quantum Computing Inc.\* | 69837 |
| 5950 | Sandisk Corp.\* | 1328516 |
| 747 | Turtle Beach Corp.\* | 10368 |
| 5815 | Xerox Holdings Corp. | 16166 |
|  | Total Technology Hardware, Storage & Peripherals | 4148186 |
|  | **TOTAL INFORMATION TECHNOLOGY** | **118448466** |
|  **MATERIALS - 4.1%**  | **MATERIALS - 4.1%**  | **MATERIALS - 4.1%**  |
|  **Chemicals - 1.4%**  | **Chemicals - 1.4%**  | **Chemicals - 1.4%**  |
| 969 | AdvanSix Inc. | 14913 |
| 5238 | Albemarle Corp. | 680888 |
| 1145 | American Vanguard Corp.\* | 5336 |
| 1211 | Arq Inc.\* | 4505 |
| 2098 | Ashland Inc. | 110984 |
| 3718 | ASP Isotopes Inc.\* | 23126 |
| 2841 | Aspen Aerogels Inc.\* | 9148 |
| 83425 | Avient Corp. | 2551971 |
| 9604 | Axalta Coating Systems Ltd.\* | 289369 |
| 1412 | Balchem Corp. | 220569 |
| 2365 | Cabot Corp. | 147978 |
| 4991 | Celanese Corp., Class A Shares | 207875 |
| 6448 | Chemours Co. (The) | 82470 |
| 310 | Core Molding Technologies Inc.\* | 5859 |
| 5114 | Eastman Chemical Co. | 317477 |
| 4544 | Ecovyst Inc.\* | 41805 |
| 9984 | Element Solutions Inc. | 258785 |
| 5331 | FMC Corp. | 76180 |
| 855 | Hawkins Inc. | 111167 |
| 2369 | HB Fuller Co. | 138065 |
| 7830 | Huntsman Corp. | 81589 |
| 1588 | Ingevity Corp.\* | 82941 |
| 1121 | Innospec Inc. | 83806 |
| 416 | Intrepid Potash Inc.\* | 10525 |
| 761 | Koppers Holdings Inc. | 22579 |
| 772 | Kronos Worldwide Inc. | 3914 |
| 1941 | LSB Industries Inc.\* | 17333 |
| 2095 | Mativ Holdings Inc. | 26167 |
| 1503 | Minerals Technologies Inc. | 88151 |
| 13733 | Mosaic Co. (The) | 336321 |
| 262 | NewMarket Corp. | 200045 |
| 5244 | Olin Corp. | 110648 |
| 2147 | Orion SA | 10907 |
| 6263 | Perimeter Solutions Inc.\* | 174612 |
| 5882 | PureCycle Technologies Inc.\* | 51762 |
| 652 | Quaker Chemical Corp. | 89878 |
| 2465 | Rayonier Advanced Materials Inc.\* | 16096 |
| 20937 | RPM International Inc. | 2245493 |
| 2053 | Scotts Miracle-Gro Co. (The) | 116241 |
| 1850 | Sensient Technologies Corp. | 180356 |
| 940 | Stepan Co. | 42610 |
| 4487 | Tronox Holdings PLC | 18576 |
| 465 | Valhi Inc. | 5896 |
|  | Total Chemicals | 9314916 |
|  **Construction Materials - 0.1%**  | **Construction Materials - 0.1%**  | **Construction Materials - 0.1%**  |
| 1418 | Eagle Materials Inc. | 317235 |
| 6428 | James Hardie Industries PLC\* | 127146 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **MATERIALS - 4.1% - (continued)** | **MATERIALS - 4.1% - (continued)** | **MATERIALS - 4.1% - (continued)** |
|  **Construction Materials - 0.1% - (continued)** | **Construction Materials - 0.1% - (continued)** | **Construction Materials - 0.1% - (continued)** |
| 2501 | Knife River Corp.\* | $187175 |
| 164 | Smith-Midland Corp.\* | 5710 |
| 1071 | Titan America SA\* | 17393 |
| 472 | United States Lime & Minerals Inc. | 57381 |
|  | Total Construction Materials | 712040 |
|  **Containers & Packaging - 1.2%**  | **Containers & Packaging - 1.2%**  | **Containers & Packaging - 1.2%**  |
| 2886 | AptarGroup Inc. | 360028 |
| 5350 | Ardagh Metal Packaging SA | 20063 |
| 13832 | Avery Dennison Corp. | 2384222 |
| 5034 | Crown Holdings Inc. | 487442 |
| 106945 | Graphic Packaging Holding Co. | 1730370 |
| 1097 | Greif Inc., Class A Shares | 71996 |
| 197 | Greif Inc., Class B Shares | 14022 |
| 1358 | Myers Industries Inc. | 24525 |
| 92522 | O-I Glass Inc.\* | 1247197 |
| 3858 | Packaging Corp. of America | 787302 |
| 1818 | Ranpak Holdings Corp., Class A Shares\* | 8981 |
| 23070 | Sealed Air Corp. | 990857 |
| 3901 | Silgan Holdings Inc. | 154636 |
| 4377 | Sonoco Products Co. | 184578 |
| 1536 | TriMas Corp. | 52332 |
|  | Total Containers & Packaging | 8518551 |
|  **Metals & Mining - 1.3%**  | **Metals & Mining - 1.3%**  | **Metals & Mining - 1.3%**  |
| 22524 | Alcoa Corp. | 940152 |
| 473 | Alpha Metallurgical Resources Inc.\* | 75306 |
| 3500 | American Battery Technology Co.\* | 13090 |
| 681 | Caledonia Mining Corp. PLC | 20982 |
| 2422 | Century Aluminum Co.\* | 72587 |
| 140881 | Cleveland-Cliffs Inc.\* | 1837088 |
| 28026 | Coeur Mining Inc.\* | 484009 |
| 4987 | Commercial Metals Co. | 318071 |
| 1691 | Compass Minerals International Inc.\* | 32112 |
| 6560 | Constellium SE, Class A Shares\* | 110274 |
| 491 | Contango ORE Inc.\* | 11892 |
| 1250 | Critical Metals Corp.\* | 10288 |
| 2810 | Dakota Gold Corp.\* | 13123 |
| 5745 | Ferroglobe PLC | 25450 |
| 26130 | Hecla Mining Co. | 439507 |
| 500 | Idaho Strategic Resources Inc.\* | 19845 |
| 3970 | Ivanhoe Electric Inc.\* | 56811 |
| 730 | Kaiser Aluminum Corp. | 70117 |
| 1234 | Lifezone Metals Ltd.\* | 4825 |
| 886 | Materion Corp. | 108260 |
| 1617 | Metallus Inc.\* | 27343 |
| 5764 | MP Materials Corp.\* | 357080 |
| 3085 | NioCorp Developments Ltd.\* | 19312 |
| 13513 | Novagold Resources Inc.\* | 137697 |
| 372 | Olympic Steel Inc. | 14467 |
| 3391 | Perpetua Resources Corp.\* | 87284 |
| 1335 | Ramaco Resources Inc., Class A Shares\* | 20946 |
| 9176 | Reliance Inc. | 2563040 |
| 3579 | Royal Gold Inc. | 729543 |
| 1136 | Ryerson Holding Corp. | 26049 |
| 9072 | SSR Mining Inc.\* | 211196 |
| 3909 | SunCoke Energy Inc. | 25487 |
| 1116 | Tredegar Corp.\* | 8705 |
| 4000 | United States Antimony Corp.\* | 24440 |
| 2325 | Warrior Met Coal Inc. | 182024 |
| 1528 | Worthington Steel Inc. | 51570 |
|  | Total Metals & Mining | 9149972 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **MATERIALS - 4.1% - (continued)** | **MATERIALS - 4.1% - (continued)** | **MATERIALS - 4.1% - (continued)** |
|  **Paper & Forest Products - 0.1%**  | **Paper & Forest Products - 0.1%**  | **Paper & Forest Products - 0.1%**  |
| 630 | Clearwater Paper Corp.\* | $11459 |
| 2774 | Louisiana-Pacific Corp. | 227496 |
| 1725 | Magnera Corp.\* | 24426 |
| 1860 | Resolute Forest Products Inc.\*(e) | 1451 |
| 1532 | Sylvamo Corp. | 72571 |
|  | Total Paper & Forest Products | 337403 |
|  | **TOTAL MATERIALS** | **28032882** |
|  **REAL ESTATE - 4.3%**  | **REAL ESTATE - 4.3%**  | **REAL ESTATE - 4.3%**  |
|  **Diversified REITs - 0.2%**  | **Diversified REITs - 0.2%**  | **Diversified REITs - 0.2%**  |
| 3143 | Alexander & Baldwin Inc. | 49125 |
| 375 | Alpine Income Property Trust Inc. | 6502 |
| 3000 | American Assets Trust Inc. | 58500 |
| 2878 | Armada Hoffler Properties Inc. | 18908 |
| 47559 | Broadstone Net Lease Inc., Class A Shares | 835612 |
| 1352 | CTO Realty Growth Inc. | 24444 |
| 8607 | Essential Properties Realty Trust Inc. | 272498 |
| 2000 | Gladstone Commercial Corp. | 22120 |
| 8279 | Global Net Lease Inc. | 67971 |
| 1119 | NexPoint Diversified Real Estate Trust | 3234 |
|  | Total Diversified REITs | 1358914 |
|  **Health Care REITs - 0.6%**  | **Health Care REITs - 0.6%**  | **Health Care REITs - 0.6%**  |
| 40945 | American Healthcare REIT Inc. | 2079187 |
| 9277 | CareTrust REIT Inc. | 348166 |
| 1317 | Community Healthcare Trust Inc. | 20519 |
| 11541 | Diversified Healthcare Trust | 55743 |
| 522 | Global Medical REIT Inc. | 17315 |
| 15027 | Healthcare Realty Trust Inc., Class A Shares | 273942 |
| 1871 | LTC Properties Inc. | 68273 |
| 22946 | Medical Properties Trust Inc. | 132169 |
| 1949 | National Health Investors Inc. | 154906 |
| 12501 | Omega Healthcare Investors Inc. | 574046 |
| 10058 | Sabra Health Care REIT Inc. | 196232 |
| 2470 | Sila Realty Trust Inc. | 59082 |
| 587 | Strawberry Fields REIT Inc. | 7355 |
| 455 | Universal Health Realty Income Trust | 18496 |
|  | Total Health Care REITs | 4005431 |
|  **Hotel & Resort REITs - 0.3%**  | **Hotel & Resort REITs - 0.3%**  | **Hotel & Resort REITs - 0.3%**  |
| 9845 | Apple Hospitality REIT Inc. | 117057 |
| 3087 | Braemar Hotels & Resorts Inc. | 8242 |
| 1734 | Chatham Lodging Trust | 11756 |
| 11921 | DiamondRock Hospitality Co. | 108600 |
| 29835 | Host Hotels & Resorts Inc. | 525991 |
| 9186 | Park Hotels & Resorts Inc. | 99392 |
| 5255 | Pebblebrook Hotel Trust | 59592 |
| 7029 | RLJ Lodging Trust | 52999 |
| 9834 | Ryman Hospitality Properties Inc. | 938459 |
| 6311 | Service Properties Trust | 10981 |
| 4049 | Summit Hotel Properties Inc. | 21703 |
| 8558 | Sunstone Hotel Investors Inc. | 80103 |
| 4755 | Xenia Hotels & Resorts Inc. | 66475 |
|  | Total Hotel & Resort REITs | 2101350 |
|  **Industrial REITs - 0.5%**  | **Industrial REITs - 0.5%**  | **Industrial REITs - 0.5%**  |
| 12607 | Americold Realty Trust Inc. | 136534 |
| 2339 | EastGroup Properties Inc. | 423780 |
| 5634 | First Industrial Realty Trust Inc. | 322490 |
| 2292 | Industrial Logistics Properties Trust | 12698 |
| 1194 | Innovative Industrial Properties Inc., Class A Shares | 59043 |
| 2521 | LXP Industrial Trust | 122268 |
| 640 | One Liberty Properties Inc. | 13338 |
| 1907 | Plymouth Industrial REIT Inc. | 41840 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **REAL ESTATE - 4.3% - (continued)** | **REAL ESTATE - 4.3% - (continued)** | **REAL ESTATE - 4.3% - (continued)** |
|  **Industrial REITs - 0.5% - (continued)** | **Industrial REITs - 0.5% - (continued)** | **Industrial REITs - 0.5% - (continued)** |
| 10432 | Rexford Industrial Realty Inc. | $434075 |
| 38738 | STAG Industrial Inc. | 1521629 |
| 4425 | Terreno Realty Corp. | 277846 |
|  | Total Industrial REITs | 3365541 |
|  **Office REITs - 0.5%**  | **Office REITs - 0.5%**  | **Office REITs - 0.5%**  |
| 8393 | Brandywine Realty Trust | 28788 |
| 6958 | BXP Inc. | 503481 |
| 1288 | City Office REIT Inc. | 8771 |
| 58294 | COPT Defense Properties | 1791374 |
| 7226 | Cousins Properties Inc. | 186286 |
| 5637 | Douglas Emmett Inc. | 68715 |
| 1701 | Easterly Government Properties Inc., Class A Shares | 37082 |
| 5830 | Empire State Realty Trust Inc., Class A Shares | 40985 |
| 4278 | Franklin Street Properties Corp. | 4449 |
| 4691 | Highwoods Properties Inc. | 130410 |
| 16953 | Hudson Pacific Properties Inc.\* | 33567 |
| 3129 | JBG SMITH Properties | 57042 |
| 5084 | Kilroy Realty Corp. | 218053 |
| 8235 | Paramount Group Inc.\* | 54268 |
| 1310 | Peakstone Realty Trust | 17908 |
| 6735 | Piedmont Realty Trust Inc., Class A Shares | 58864 |
| 905 | Postal Realty Trust Inc., Class A Shares | 14064 |
| 3323 | SL Green Realty Corp. | 156613 |
| 7866 | Vornado Realty Trust | 289626 |
|  | Total Office REITs | 3700346 |
|  **Real Estate Management & Development - 0.6%**  | **Real Estate Management & Development - 0.6%**  | **Real Estate Management & Development - 0.6%**  |
| 3619 | Anywhere Real Estate Inc.\* | 51571 |
| 20694 | Compass Inc., Class A Shares\* | 215631 |
| 5997 | Cushman & Wakefield Ltd.\*(b) | 100450 |
| 3891 | eXp World Holdings Inc. | 44163 |
| 669 | Forestar Group Inc.\* | 17073 |
| 506 | FRP Holdings Inc.\* | 11795 |
| 1303 | Howard Hughes Holdings Inc.\* | 116658 |
| 8422 | Jones Lang LaSalle Inc.\* | 2742961 |
| 6548 | Kennedy-Wilson Holdings Inc. | 63712 |
| 1302 | Marcus & Millichap Inc. | 38149 |
| 426 | Maui Land & Pineapple Co., Inc.\* | 6752 |
| 6861 | Newmark Group Inc., Class A Shares | 119244 |
| 623 | RE/MAX Holdings Inc., Class A Shares\* | 5121 |
| 5460 | Real Brokerage Inc. (The)\* | 21676 |
| 604 | RMR Group Inc. (The), Class A Shares | 9211 |
| 249 | Seaport Entertainment Group Inc.\* | 5343 |
| 1888 | St Joe Co. (The) | 113903 |
| 298 | Stratus Properties Inc.\* | 6601 |
| 758 | Tejon Ranch Co.\* | 12302 |
| 2194 | Zillow Group Inc., Class A Shares\* | 158736 |
| 7172 | Zillow Group Inc., Class C Shares\* | 533453 |
|  | Total Real Estate Management & Development | 4394505 |
|  **Residential REITs - 0.5%**  | **Residential REITs - 0.5%**  | **Residential REITs - 0.5%**  |
| 14865 | American Homes 4 Rent, Class A Shares | 477464 |
| 5752 | Apartment Investment & Management Co., Class A Shares | 32844 |
| 474 | BRT Apartments Corp. | 6939 |
| 4675 | Camden Property Trust | 497140 |
| 799 | Centerspace | 53341 |
| 3718 | Elme Communities | 64544 |
| 8365 | Equity LifeStyle Properties Inc. | 525908 |
| 82209 | Independence Realty Trust Inc. | 1409884 |
| 1018 | NexPoint Residential Trust Inc. | 32383 |
| 4696 | UMH Properties Inc. | 71050 |
| 5129 | Veris Residential Inc. | 77243 |
|  | Total Residential REITs | 3248740 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **REAL ESTATE - 4.3% - (continued)** | **REAL ESTATE - 4.3% - (continued)** | **REAL ESTATE - 4.3% - (continued)** |
|  **Retail REITs - 0.6%**  | **Retail REITs - 0.6%**  | **Retail REITs - 0.6%**  |
| 6378 | Acadia Realty Trust | $131196 |
| 4755 | Agree Realty Corp. | 357671 |
| 89 | Alexander's Inc. | 18862 |
| 13459 | Brixmor Property Group Inc. | 351818 |
| 958 | CBL & Associates Properties Inc. | 32016 |
| 4222 | Curbline Properties Corp. | 101075 |
| 3729 | Federal Realty Investment Trust | 368164 |
| 558 | FrontView REIT Inc. | 8526 |
| 2128 | Getty Realty Corp. | 60584 |
| 3385 | InvenTrust Properties Corp. | 96608 |
| 29380 | Kimco Realty Corp. | 606991 |
| 9929 | Kite Realty Group Trust | 229757 |
| 11853 | Macerich Co. (The) | 205768 |
| 4741 | NETSTREIT Corp. | 86903 |
| 8221 | NNN REIT Inc. | 339938 |
| 5732 | Phillips Edison & Co., Inc. | 203486 |
| 7871 | Regency Centers Corp. | 560100 |
| 421 | Saul Centers Inc. | 13093 |
| 2400 | SITE Centers Corp. | 17664 |
| 4866 | Tanger Inc. | 163400 |
| 5778 | Urban Edge Properties | 111053 |
| 2581 | Whitestone REIT, Class B Shares | 34302 |
|  | Total Retail REITs | 4098975 |
|  **Specialized REITs - 0.5%**  | **Specialized REITs - 0.5%**  | **Specialized REITs - 0.5%**  |
| 26002 | CubeSmart | 968054 |
| 3283 | EPR Properties | 171602 |
| 1538 | Farmland Partners Inc. | 15134 |
| 4323 | Four Corners Property Trust Inc. | 103925 |
| 11823 | Gaming & Leisure Properties Inc. | 514655 |
| 1177 | Gladstone Land Corp. | 10958 |
| 3883 | Lamar Advertising Co., Class A Shares | 514070 |
| 5346 | Millrose Properties Inc. | 162839 |
| 3059 | National Storage Affiliates Trust | 90088 |
| 6336 | Outfront Media Inc. | 149086 |
| 3429 | PotlatchDeltic Corp. | 137983 |
| 6703 | Rayonier Inc.(b) | 148874 |
| 2440 | Safehold Inc. | 33843 |
| 1513 | Smartstop Self Storage REIT Inc. | 49445 |
|  | Total Specialized REITs | 3070556 |
|  | **TOTAL REAL ESTATE** | **29344358** |
|  **UTILITIES - 4.0%**  | **UTILITIES - 4.0%**  | **UTILITIES - 4.0%**  |
|  **Electric Utilities - 1.1%**  | **Electric Utilities - 1.1%**  | **Electric Utilities - 1.1%**  |
| 18332 | ALLETE Inc. | 1239610 |
| 1009 | Genie Energy Ltd., Class B Shares | 14610 |
| 7866 | Hawaiian Electric Industries Inc.\* | 92504 |
| 17177 | IDACORP Inc. | 2263585 |
| 1577 | MGE Energy Inc. | 130607 |
| 8877 | OGE Energy Corp. | 406389 |
| 4743 | Oklo Inc., Class A Shares\* | 433415 |
| 1609 | Otter Tail Corp. | 132260 |
| 5274 | Pinnacle West Capital Corp. | 479196 |
| 45530 | Portland General Electric Co. | 2313835 |
| 4150 | TXNM Energy Inc. | 242567 |
|  | Total Electric Utilities | 7748578 |
|  **Gas Utilities - 1.3%**  | **Gas Utilities - 1.3%**  | **Gas Utilities - 1.3%**  |
| 11186 | Atmos Energy Corp. | 1972875 |
| 5308 | Brookfield Infrastructure Corp., Class A Shares | 242310 |
| 10104 | Chesapeake Utilities Corp. | 1405062 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
| **UTILITIES - 4.0% - (continued)** | **UTILITIES - 4.0% - (continued)** | **UTILITIES - 4.0% - (continued)** |
| **Gas Utilities - 1.3% - (continued)** | **Gas Utilities - 1.3% - (continued)** | **Gas Utilities - 1.3% - (continued)** |
| 9097 | MDU Resources Group Inc. | $193948 |
| 3950 | National Fuel Gas Co. | 325678 |
| 41966 | New Jersey Resources Corp. | 2017725 |
| 1760 | Northwest Natural Holding Co. | 87067 |
| 18331 | ONE Gas Inc. | 1535038 |
| 281 | RGC Resources Inc. | 6339 |
| 2790 | Southwest Gas Holdings Inc. | 231710 |
| 2556 | Spire Inc. | 226615 |
| 9555 | UGI Corp. | 377900 |
|  | Total Gas Utilities | 8622267 |
| **Independent Power & Renewable Electricity Producers - 1.0%**  | **Independent Power & Renewable Electricity Producers - 1.0%**  | **Independent Power & Renewable Electricity Producers - 1.0%**  |
| 31668 | AES Corp. (The) | 445252 |
| 5931 | Brookfield Renewable Corp. | 246077 |
| 1347 | Clearway Energy Inc., Class A Shares | 46068 |
| 3793 | Clearway Energy Inc., Class C Shares | 138900 |
| 1024 | Hallador Energy Co.\* | 20879 |
| 2632 | Montauk Renewables Inc.\* | 4290 |
| 37719 | Ormat Technologies Inc. | 4258852 |
| 1997 | Talen Energy Corp.\* | 787357 |
| 5116 | Vistra Corp. | 915048 |
|  | Total Independent Power & Renewable Electricity Producers | 6862723 |
| **Multi-Utilities - 0.5%**  | **Multi-Utilities - 0.5%**  | **Multi-Utilities - 0.5%**  |
| 3420 | Avista Corp. | 141520 |
| 3197 | Black Hills Corp. | 235907 |
| 20573 | NiSource Inc. | 907886 |
| 35098 | Northwestern Energy Group Inc. | 2424921 |
| 701 | Unitil Corp. | 35211 |
|  | Total Multi-Utilities | 3745445 |
| **Water Utilities - 0.1%**  | **Water Utilities - 0.1%**  | **Water Utilities - 0.1%**  |
| 1650 | American States Water Co. | 121721 |
| 1459 | Cadiz Inc.\* | 8127 |
| 2592 | California Water Service Group | 117599 |
| 513 | Consolidated Water Co., Ltd. | 17560 |
| 12234 | Essential Utilities Inc. | 484344 |
| 397 | Global Water Resources Inc. | 3402 |
| 1464 | H2O America | 67974 |
| 732 | Middlesex Water Co. | 37559 |
| 734 | Pure Cycle Corp.\* | 8353 |
| 643 | York Water Co. (The) | 20981 |
|  | Total Water Utilities | 887620 |
|  | **TOTAL UTILITIES** | **27866633** |
|  | **TOTAL COMMON STOCKS**<br> (Cost - $495,090,336) | **669966488** |
| **RIGHTS - 0.0%@** | **RIGHTS - 0.0%@** | **RIGHTS - 0.0%@** |
| **COMMUNICATION SERVICES - 0.0%@** | **COMMUNICATION SERVICES - 0.0%@** | **COMMUNICATION SERVICES - 0.0%@** |
| **Diversified Telecommunication Services - 0.0%@** | **Diversified Telecommunication Services - 0.0%@** | **Diversified Telecommunication Services - 0.0%@** |
| 440 | GCI Liberty Inc., Class R Shares expires 12/17/25\* | 2728 |
| **FINANCIALS - 0.0%@** | **FINANCIALS - 0.0%@** | **FINANCIALS - 0.0%@** |
| **Mortgage Real Estate Investment Trusts (REITs) - 0.0%@** | **Mortgage Real Estate Investment Trusts (REITs) - 0.0%@** | **Mortgage Real Estate Investment Trusts (REITs) - 0.0%@** |
| 763 | Seven Hills Realty Trust expires 12/16/25\* | 21 |
|  | **TOTAL RIGHTS**<br> (Cost - $0) | **2749** |
| **WARRANT - 0.0%@** | **WARRANT - 0.0%@** | **WARRANT - 0.0%@** |
| **HEALTH CARE - 0.0%@** | **HEALTH CARE - 0.0%@** | **HEALTH CARE - 0.0%@** |
| **Health Care Equipment & Supplies - 0.0%@** | **Health Care Equipment & Supplies - 0.0%@** | **Health Care Equipment & Supplies - 0.0%@** |
| 107 | Pulse Biosciences Inc., expires 6/27/29\*(b)(e)<br> (Cost - $0) | **144** |
|  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $495,090,336) | **669969381** |
| **Face<br>Amount†** |  |  |
| **SHORT-TERM INVESTMENTS (c) - 2.7%**  | **SHORT-TERM INVESTMENTS (c) - 2.7%**  | **SHORT-TERM INVESTMENTS (c) - 2.7%**  |
| **MONEY MARKET FUND - 0.2%**  | **MONEY MARKET FUND - 0.2%**  | **MONEY MARKET FUND - 0.2%**  |
| $1008592 | Invesco STIT - Government & Agency Portfolio, Institutional Class, 4.027%(d)<br> (Cost - $1,008,592) | **1008592** |
| **TIME DEPOSITS - 2.5%**  | **TIME DEPOSITS - 2.5%**  | **TIME DEPOSITS - 2.5%**  |
| 4812515 | Citibank - New York, 3.220% due 12/1/25 | 4812515 |
| 244 | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25 | 244 |
|  | Royal Bank of Canada - Toronto: |  |
| 29862 <sup>CAD</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1.080% due 12/1/25 | 21359 |
| 14258 | &nbsp;&nbsp;&nbsp;&nbsp; 3.220% due 12/1/25 | 14258 |
| 7686184 | Skandinaviska Enskilda Banken AB - Stockholm, 3.220% due 12/1/25 | 7686184 |
| 4788906 | Sumitomo Mitsui Banking Corp. - Tokyo, 3.220% due 12/1/25 | 4788906 |
|  | **TOTAL TIME DEPOSITS**<br> (Cost - $17,323,466) | **17323466** |
|  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $18,332,058) | **18332058** |
|  | **TOTAL INVESTMENTS - 100.0%**<br> (Cost - $513,422,394) | **688301439** |
|  | Other Assets in Excess of Liabilities - 0.0%@ | 56146 |
|  | **TOTAL NET ASSETS - 100.0%** | $**688357585** |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

† Amount denominated in U.S. dollars, unless otherwise noted.

\* Non-income producing security.

---

| | |
|:---|:---|
| @ | The amount is less than 0.05%.  |

---

(a) All or a portion of this security is on loan (See Note 1).

(b) Illiquid security.

(c) Inclusive of all short-term holdings, including investments of collateral received from securities lending
transactions. Excluding such collateral, the percentage of portfolio holdings would be 2.5%.

(d) Represents investments of collateral received from securities lending transactions.

(e) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

# Security that used significant unobservable inputs to determine fair value. At November 30, 2025, the Fund held Level 3 securities with a value of $0, representing 0.0% of net assets. 

At November 30, 2025, for Morgan Stanley Pathway Small-Mid Cap Equity ETF the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross**<br> **Unrealized<br>Appreciation** | **Gross**<br> **Unrealized<br>(Depreciation)** | **Net**<br> **Unrealized<br>Appreciation** |
|  Morgan Stanley Pathway Small-Mid Cap Equity ETF | $513422394 | $216636715 | $(41677570) | $174959145 |

---

**<u>Abbreviations used in this schedule:</u>**

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Security Sector^** | | |
|  Industrials | 21.7 | % |
|  Information Technology | 17.2 |  |
|  Health Care | 14.7 |  |
|  Financials | 13.8 |  |
|  Consumer Discretionary | 8.8 |  |
|  Real Estate | 4.3 |  |
|  Materials | 4.1 |  |
|  Utilities | 4.0 |  |
|  Energy | 3.9 |  |
|  Communication Services | 2.5 |  |
|  Consumer Staples | 2.5 |  |
|  Short-Term Investments | 2.5 |  |
|  Total Investments | 100.0 | %+ |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

+ Does not reflect investments of collateral received from securities lending transactions.

------

**Schedules of Investments** 

(unaudited) (continued)

**Morgan Stanley Pathway Small-Mid Cap Equity ETF**

At November 30, 2025, Morgan Stanley Pathway Small-Mid Cap Equity ETF had open exchange-traded futures contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of<br>Contracts** | **Expiration<br>Date<br>(Month/Year)** | **Notional<br>Amount** | **Value** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; E-mini Russell 2000 Index Futures | 34 | 12/25 | $4163942 | $4258670 | $94728 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P MidCap 400 E-mini Index Futures | 13 | 12/25 | 4323349 | 4308721 | (14628) |
|  |  |  |  |  | $80100 |

---

At November 30, 2025, Morgan Stanley Pathway Small-Mid Cap Equity ETF had deposited cash of $587,996 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

**<u>Currency abbreviation used in this schedule:</u>**

CAD — Canadian Dollar

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **COMMON STOCKS - 96.5%** | **COMMON STOCKS - 96.5%** | **COMMON STOCKS - 96.5%** |
|  **Australia - 3.6%** | **Australia - 3.6%** | **Australia - 3.6%** |
| 441117 | AMP Ltd. | $502128 |
| 14517 | Ansell Ltd. | 356398 |
| 77087 | ANZ Group Holdings Ltd. | 1750530 |
| 36370 | APA Group | 220702 |
| 14423 | Aristocrat Leisure Ltd. | 552996 |
| 5159 | ASX Ltd. | 196610 |
| 77873 | Austal Ltd.\* | 335350 |
| 50771 | Bendigo & Adelaide Bank Ltd. | 340706 |
| 131255 | BHP Group Ltd. | 3597105 |
| 35024 | Brambles Ltd. | 552344 |
| 9765 | CAR Group Ltd. | 222414 |
| 40206 | Charter Hall Group, REIT | 654807 |
| 11082 | Cochlear Ltd. | 2025909 |
| 34339 | Coles Group Ltd. | 501824 |
| 43238 | Commonwealth Bank of Australia | 4323261 |
| 12726 | Computershare Ltd. | 299313 |
| 33864 | CSL Ltd. | 4128283 |
| 55233 | Evolution Mining Ltd. | 435538 |
| 43110 | Fortescue Ltd. | 605811 |
| 53273 | Goodman Group, REIT | 1036138 |
| 61980 | Insurance Australia Group Ltd. | 315195 |
| 8124 | JB Hi-Fi Ltd. | 523040 |
| 55040 | Lottery Corp., Ltd. (The) | 197186 |
| 23222 | Lynas Rare Earths Ltd.\* | 220921 |
| 9474 | Macquarie Group Ltd. | 1226109 |
| 81136 | Magellan Financial Group Ltd. | 505646 |
| 76612 | Medibank Pvt Ltd. | 238413 |
| 79209 | National Australia Bank Ltd. | 2082931 |
| 34395 | Northern Star Resources Ltd. | 619246 |
| 47706 | Orica Ltd. | 746424 |
| 44429 | Origin Energy Ltd. | 339982 |
| 55522 | Paladin Energy Ltd.\* | 297204 |
| 1471 | Pro Medicus Ltd. | 257622 |
| 18585 | Qantas Airways Ltd. | 121732 |
| 38637 | QBE Insurance Group Ltd. | 487495 |
| 439338 | Ramelius Resources Ltd. | 1065421 |
| 1392 | REA Group Ltd. | 178644 |
| 29233 | Rio Tinto Ltd. | 2533784 |
| 61711 | Sandfire Resources Ltd.\* | 636335 |
| 85353 | Santos Ltd. | 361758 |
| 131226 | Scentre Group, REIT | 350739 |
| 5204 | SGH Ltd. | 161616 |
| 125283 | Sigma Healthcare Ltd. | 236140 |
| 11934 | Sonic Healthcare Ltd. | 182240 |
| 119734 | South32 Ltd. | 252675 |
| 60665 | Stockland, REIT | 239572 |
| 27801 | Suncorp Group Ltd. | 319924 |
| 106770 | Telstra Group Ltd. | 344043 |
| 80166 | Transurban Group | 783982 |
| 147609 | Ventia Services Group Pty Ltd. | 570465 |
| 109457 | Vicinity Ltd., REIT | 176403 |
| 8510 | Washington H Soul Pattinson & Co., Ltd. | 210924 |
| 29500 | Wesfarmers Ltd. | 1583891 |
| 87585 | Westpac Banking Corp. | 2159645 |
| 5137 | WiseTech Global Ltd. | 245840 |
| 49734 | Woodside Energy Group Ltd. | 813356 |
| 31230 | Woolworths Group Ltd. | 599548 |
|  | Total Australia | 44824258 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Austria - 0.3%** | **Austria - 0.3%** | **Austria - 0.3%** |
| 1498 | DO & CO AG | $331193 |
| 27220 | Erste Group Bank AG | 2975379 |
| 3522 | OMV AG | 194888 |
| 3213 | Raiffeisen Bank International AG | 129899 |
| 1904 | Verbund AG | 139504 |
|  | Total Austria | 3770863 |
|  **Belgium - 1.1%** | **Belgium - 1.1%** | **Belgium - 1.1%** |
| 3770 | Ageas SA/NV | 257119 |
| 94676 | Anheuser-Busch InBev SA/NV | 5819403 |
| 8278 | Colruyt Group NV | 318084 |
| 580 | D'ieteren Group | 101011 |
| 1307 | Elia Group SA/NV, Class B Shares | 157890 |
| 510 | Financiere de Tubize SA | 124403 |
| 2228 | Groupe Bruxelles Lambert NV | 192781 |
| 5820 | KBC Group NV | 717293 |
| 12 | Lotus Bakeries NV | 107731 |
| 403 | Sofina SA | 113474 |
| 33086 | Syensqo SA | 2698751 |
| 9450 | UCB SA | 2641867 |
| 31839 | Umicore SA | 559983 |
|  | Total Belgium | 13809790 |
|  **Brazil - 0.0%@** | **Brazil - 0.0%@** | **Brazil - 0.0%@** |
| 33626 | NU Holdings Ltd., Class A Shares\* | 584756 |
|  **Canada - 2.2%** | **Canada - 2.2%** | **Canada - 2.2%** |
| 105724 | Algonquin Power & Utilities Corp. | 646572 |
| 56435 | Alimentation Couche-Tard Inc. | 3081208 |
| 8336 | Aritzia Inc.\* | 658866 |
| 36128 | Barrick Mining Corp. | 1509931 |
| 16802 | Bird Construction Inc. | 318241 |
| 10152 | Boardwalk Real Estate Investment Trust, Class Trust Un Shares | 466409 |
| 14796 | Boralex Inc., Class A Shares | 264159 |
| 7447 | BRP Inc. | 519300 |
| 71059 | Canadian Pacific Kansas City Ltd. | 5145240 |
| 2832 | Celestica Inc.\* | 972549 |
| 52828 | CES Energy Solutions Corp. | 464401 |
| 2236 | Colliers International Group Inc.(a) | 323953 |
| 64515 | DPM Metals Inc. | 1799710 |
| 41294 | Enerflex Ltd. | 573901 |
| 17513 | Finning International Inc. | 936499 |
| 6909 | Gildan Activewear Inc., Class A Shares | 396290 |
| 93595 | Headwater Exploration Inc. | 597166 |
| 20216 | IMAX Corp.\* | 750014 |
| 3654 | Kinaxis Inc.\* | 456368 |
| 6575 | Lundin Gold Inc. | 553870 |
| 15220 | Methanex Corp. | 547051 |
| 15351 | Nutrien Ltd. | 892698 |
| 59345 | OceanaGold Corp. | 1526869 |
| 11426 | Quebecor Inc., Class B Shares | 430380 |
| 18102 | Toronto-Dominion Bank (The) | 1523336 |
| 52176 | Vermilion Energy Inc. | 481808 |
| 111497 | Whitecap Resources Inc., Class Common S Shares | 932299 |
|  | Total Canada | 26769088 |
|  **Chile - 0.1%** | **Chile - 0.1%** | **Chile - 0.1%** |
| 41518 | Antofagasta PLC | 1519237 |
|  **China - 0.4%** | **China - 0.4%** | **China - 0.4%** |
| 15100 | Contemporary Amperex Technology Co., Ltd., Class A Shares | 800172 |
| 48500 | Tencent Holdings Ltd. | 3833010 |
| 39329 | Tencent Music Entertainment Group, ADR | 725620 |
| 67800 | Yangzijiang Shipbuilding Holdings Ltd. | 175167 |
|  | Total China | 5533969 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Denmark - 2.0%** | **Denmark - 2.0%** | **Denmark - 2.0%** |
| 58 | AP Moller - Maersk AS, Class A Shares | $116195 |
| 119 | AP Moller - Maersk AS, Class B Shares | 237956 |
| 1857 | Ascendis Pharma AS, ADR\* | 394297 |
| 2358 | Carlsberg AS, Class B Shares | 292815 |
| 32128 | Coloplast AS, Class B Shares | 2898409 |
| 16977 | Danske Bank AS | 781044 |
| 2893 | Demant AS\* | 98526 |
| 5230 | DSV AS | 1191249 |
| 6171 | FLSmidth & Co. AS | 394318 |
| 1560 | Genmab AS\* | 503642 |
| 15125 | ISS AS | 499696 |
| 5263 | Jyske Bank AS, Class Registered Shares | 651543 |
| 7944 | Netcompany Group AS\*(b) | 398499 |
| 227013 | Novo Nordisk AS, Class B Shares | 11179364 |
| 9355 | Novonesis (Novozymes) B, Class B Shares | 583187 |
| 13617 | Orsted AS\*(b) | 289584 |
| 8158 | Pandora AS | 975033 |
| 11407 | Rockwool AS, Class B Shares | 385322 |
| 5987 | Royal Unibrew AS | 518791 |
| 8742 | Tryg AS | 216520 |
| 91727 | Vestas Wind Systems AS | 2180470 |
|  | Total Denmark | 24786460 |
|  **Finland - 0.8%** | **Finland - 0.8%** | **Finland - 0.8%** |
| 3767 | Elisa OYJ | 165114 |
| 12358 | Fortum OYJ | 253697 |
| 6901 | Kesko OYJ, Class B Shares | 146854 |
| 51310 | Kone OYJ, Class B Shares | 3485999 |
| 9619 | Konecranes OYJ | 985637 |
| 17656 | Metso OYJ | 290909 |
| 10312 | Neste OYJ | 199272 |
| 136052 | Nokia OYJ | 823312 |
| 79925 | Nordea Bank Abp | 1420501 |
| 8541 | Orion OYJ, Class B Shares | 611019 |
| 63775 | Sampo OYJ, Class A Shares | 749748 |
| 13354 | Stora Enso OYJ, Class R Shares | 157045 |
| 13125 | UPM-Kymmene OYJ | 358120 |
| 13097 | Wartsila OYJ Abp | 424738 |
|  | Total Finland | 10071965 |
|  **France - 11.9%** | **France - 11.9%** | **France - 11.9%** |
| 5144 | Accor SA | 279261 |
| 880 | Aeroports de Paris SA | 129017 |
| 31493 | Air Liquide SA | 6029172 |
| 25524 | Airbus SE | 5919435 |
| 394980 | Alstom SA\* | 10348822 |
| 1837 | Amundi SA(b) | 147110 |
| 45305 | AXA SA | 2044120 |
| 35525 | Ayvens SA(b) | 457980 |
| 1043 | BioMerieux | 130575 |
| 110494 | BNP Paribas SA | 9501915 |
| 18376 | Bollore SE | 101909 |
| 4643 | Bouygues SA | 231942 |
| 8942 | Bureau Veritas SA | 286217 |
| 35194 | Capgemini SE | 5501274 |
| 14321 | Carrefour SA | 219607 |
| 79624 | Cie de Saint-Gobain SA | 7950946 |
| 17169 | Cie Generale des Etablissements Michelin SCA | 560908 |
| 10603 | Covivio SA, REIT | 685194 |
| 27021 | Credit Agricole SA | 518336 |
| 16561 | Danone SA | 1477964 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **France - 11.9% - (continued)** | **France - 11.9% - (continued)** | **France - 11.9% - (continued)** |
| 516 | Dassault Aviation SA | $161847 |
| 81423 | Dassault Systemes SE | 2278417 |
| 6543 | Edenred SE | 140292 |
| 7088 | Eiffage SA | 977670 |
| 23156 | Elis SA | 658450 |
| 46941 | Engie SA | 1192604 |
| 12862 | EssilorLuxottica SA | 4606871 |
| 2622 | FDJ United | 73805 |
| 1165 | Gecina SA, REIT | 107950 |
| 8457 | Getlink SE | 152775 |
| 1902 | Hermes International SCA | 4632240 |
| 4738 | Ipsen SA | 683513 |
| 46572 | Kering SA | 15872455 |
| 25768 | Klepierre SA, REIT | 1002302 |
| 21960 | Legrand SA | 3328548 |
| 13568 | L'Oréal SA | 5910922 |
| 16694 | LVMH Moët Hennessy Louis Vuitton SE | 12381360 |
| 47678 | Orange SA | 786230 |
| 5175 | Pernod Ricard SA | 466054 |
| 5883 | Publicis Groupe SA | 573411 |
| 5060 | Renault SA | 202447 |
| 5845 | Rexel SA | 222525 |
| 9275 | Safran SA | 3128612 |
| 99791 | Sanofi SA | 9938763 |
| 773 | Sartorius Stedim Biotech | 186087 |
| 32204 | Schneider Electric SE | 8658432 |
| 70553 | Societe Generale SA | 4918776 |
| 2351 | Sodexo SA | 124232 |
| 2531 | Sopra Steria Group | 387013 |
| 15434 | SPIE SA | 835766 |
| 15960 | Technip Energies NV | 623801 |
| 2365 | Thales SA | 617922 |
| 91515 | TotalEnergies SE | 6010464 |
| 3339 | Unibail-Rodamco-Westfield, REIT | 354886 |
| 16245 | Veolia Environnement SA | 552241 |
| 12665 | Vinci SA | 1794774 |
| 879 | Virbac SACA | 375413 |
| 193157 | Worldline SA\*(b)(c) | 341594 |
|  | Total France | 147783168 |
|  **Germany - 8.4%** | **Germany - 8.4%** | **Germany - 8.4%** |
| 12419 | adidas AG | 2315315 |
| 17465 | Allianz SE, Class Registered Shares | 7541113 |
| 23100 | BASF SE | 1202925 |
| 25064 | Bayer AG, Class Registered Shares | 886104 |
| 23026 | Bayerische Motoren Werke AG | 2350825 |
| 8011 | Bechtle AG | 412406 |
| 17719 | Beiersdorf AG | 1905979 |
| 4648 | Bilfinger SE | 547683 |
| 2986 | Brenntag SE | 171250 |
| 18885 | Commerzbank AG | 741462 |
| 2940 | Continental AG | 220061 |
| 4720 | Covestro AG\* | 338792 |
| 5816 | CTS Eventim AG & Co. KGaA | 569617 |
| 18291 | Daimler Truck Holding AG | 773535 |
| 5031 | Delivery Hero SE, Class A Shares\*(b) | 117971 |
| 127943 | Deutsche Bank AG, Class Registered Shares | 4541923 |
| 4893 | Deutsche Boerse AG | 1307332 |
| 14471 | Deutsche Lufthansa AG, Class Registered Shares | 138800 |
| 24570 | Deutsche Post AG | 1278954 |
| 285679 | Deutsche Telekom AG, Class Registered Shares | 9201116 |
| 134077 | E.ON SE | 2386793 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Germany - 8.4% - (continued)** | **Germany - 8.4% - (continued)** | **Germany - 8.4% - (continued)** |
| 7404 | Evonik Industries AG | $113953 |
| 16386 | Freenet AG | 541995 |
| 5600 | Fresenius Medical Care AG | 267879 |
| 11178 | Fresenius SE & Co. KGaA | 612963 |
| 11339 | GEA Group AG | 767997 |
| 1598 | Hannover Rueck SE | 481073 |
| 3509 | Heidelberg Materials AG | 900795 |
| 2497 | Henkel AG & Co. KGaA | 187422 |
| 1624 | Hensoldt AG | 128754 |
| 378 | Hochtief AG | 133626 |
| 299912 | Infineon Technologies AG | 12637289 |
| 7612 | IONOS Group SE\* | 245842 |
| 5784 | KION Group AG | 432885 |
| 1890 | Knorr-Bremse AG | 200339 |
| 130096 | Lanxess AG | 2637966 |
| 1990 | LEG Immobilien SE | 149612 |
| 18841 | Mercedes-Benz Group AG | 1270851 |
| 20303 | Merck KGaA | 2729301 |
| 1362 | MTU Aero Engines AG | 556369 |
| 3363 | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class Registered Shares | 2121744 |
| 1510 | Nemetschek SE | 168546 |
| 17383 | Nordex SE\* | 521130 |
| 137 | Rational AG | 102434 |
| 1195 | Rheinmetall AG | 2051517 |
| 16178 | RWE AG | 821707 |
| 79337 | SAP SE | 19189982 |
| 7570 | Scout24 SE(b) | 773668 |
| 27566 | Siemens AG, Class Registered Shares | 7300308 |
| 20052 | Siemens Energy AG\* | 2681384 |
| 24605 | Siemens Healthineers AG(b) | 1222508 |
| 7148 | SUSS MicroTec SE | 283217 |
| 3366 | Symrise AG, Class A Shares | 278880 |
| 39299 | TAG Immobilien AG | 670203 |
| 1647 | Talanx AG | 213753 |
| 67938 | TUI AG\* | 648151 |
| 19616 | Vonovia SE | 594115 |
| 27111 | Zalando SE\*(b) | 730358 |
|  | Total Germany | 104320472 |
|  **Greece - 0.1%** | **Greece - 0.1%** | **Greece - 0.1%** |
| 265619 | Eurobank Ergasias Services & Holdings SA | 1051980 |
|  **Hong Kong - 2.0%** | **Hong Kong - 2.0%** | **Hong Kong - 2.0%** |
| 781200 | AIA Group Ltd. | 8140278 |
| 307000 | BOC Hong Kong Holdings Ltd. | 1480108 |
| 932000 | China Ruyi Holdings Ltd.\* | 292629 |
| 51500 | CK Asset Holdings Ltd. | 264506 |
| 69500 | CK Hutchison Holdings Ltd. | 491625 |
| 15500 | CK Infrastructure Holdings Ltd. | 107302 |
| 42500 | CLP Holdings Ltd. | 371386 |
| 1480 | Futu Holdings Ltd., ADR | 251097 |
| 51000 | Galaxy Entertainment Group Ltd. | 264484 |
| 19600 | Hang Seng Bank Ltd. | 383089 |
| 38894 | Henderson Land Development Co., Ltd. | 146792 |
| 96000 | HKT Trust & HKT Ltd., Class Miscella Shares | 146833 |
| 271380 | Hong Kong & China Gas Co., Ltd. | 252504 |
| 30799 | Hong Kong Exchanges & Clearing Ltd. | 1637730 |
| 28900 | Hongkong Land Holdings Ltd. | 183681 |
| 39200 | Jardine Matheson Holdings Ltd. | 2577411 |
| 66780 | Link REIT | 317063 |
| 44283 | Melco Resorts & Entertainment Ltd., ADR\* | 403418 |
| 43500 | MTR Corp., Ltd. | 172715 |
| 36500 | Power Assets Holdings Ltd. | 244126 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Hong Kong - 2.0% - (continued)** | **Hong Kong - 2.0% - (continued)** | **Hong Kong - 2.0% - (continued)** |
| 314772 | Prudential PLC | $4563919 |
| 86646 | Sino Land Co., Ltd. | 116327 |
| 35000 | SITC International Holdings Co., Ltd. | 120422 |
| 37500 | Sun Hung Kai Properties Ltd. | 475746 |
| 10000 | Swire Pacific Ltd., Class A Shares | 85877 |
| 88000 | Techtronic Industries Co., Ltd. | 1036086 |
| 219500 | WH Group Ltd.(b) | 230048 |
| 27000 | Wharf Holdings Ltd. (The) | 82015 |
| 46000 | Wharf Real Estate Investment Co., Ltd. | 145254 |
|  | Total Hong Kong | 24984471 |
|  **Hungary - 0.0%@** | **Hungary - 0.0%@** | **Hungary - 0.0%@** |
| 31584 | Wizz Air Holdings PLC\*(b) | 488758 |
|  **India - 0.1%** | **India - 0.1%** | **India - 0.1%** |
| 17778 | HDFC Bank Ltd., ADR | 654586 |
|  **Indonesia - 0.1%** | **Indonesia - 0.1%** | **Indonesia - 0.1%** |
| 1321100 | Bank Central Asia Tbk PT | 659247 |
|  **Ireland - 1.1%** | **Ireland - 1.1%** | **Ireland - 1.1%** |
| 4475 | AerCap Holdings NV | 599650 |
| 56349 | AIB Group PLC | 579460 |
| 26748 | Bank of Ireland Group PLC | 493888 |
| 155656 | Cairn Homes PLC | 367927 |
| 2506 | DCC PLC | 165353 |
| 84012 | Experian PLC | 3694858 |
| 4138 | Kerry Group PLC, Class A Shares | 383648 |
| 21550 | Kingspan Group PLC | 1843670 |
| 21918 | Ryanair Holdings PLC | 717368 |
| 117200 | Smurfit WestRock PLC | 4182868 |
|  | Total Ireland | 13028690 |
|  **Israel - 0.7%** | **Israel - 0.7%** | **Israel - 0.7%** |
| 1102 | Azrieli Group Ltd. | 111739 |
| 31324 | Bank Hapoalim BM | 675928 |
| 37933 | Bank Leumi Le-Israel BM | 793500 |
| 6936 | Check Point Software Technologies Ltd.\* | 1295437 |
| 1304 | CyberArk Software Ltd.\* | 598001 |
| 732 | Elbit Systems Ltd. | 343218 |
| 20044 | ICL Group Ltd. | 110764 |
| 29504 | Israel Discount Bank Ltd., Class A Shares | 308102 |
| 4203 | Mizrahi Tefahot Bank Ltd. | 293669 |
| 1092 | Monday.com Ltd.\* | 157095 |
| 1783 | Nice Ltd.\* | 189568 |
| 752 | Nova Ltd.\* | 234424 |
| 6233 | Phoenix Financial Ltd. | 250630 |
| 101687 | Teva Pharmaceutical Industries Ltd., ADR\* | 2734363 |
| 1388 | Wix.com Ltd.\* | 132845 |
|  | Total Israel | 8229283 |
|  **Italy - 2.9%** | **Italy - 2.9%** | **Italy - 2.9%** |
| 17029 | Azimut Holding SpA | 705082 |
| 2531 | Banca Generali SpA | 161190 |
| 5106 | Banca Mediolanum SpA | 109358 |
| 90596 | Banca Monte dei Paschi di Siena SpA | 858764 |
| 28959 | Banco BPM SpA | 417822 |
| 36922 | BPER Banca SpA | 445570 |
| 17631 | Buzzi SpA | 1087494 |
| 16935 | Davide Campari-Milano NV | 115860 |
| 11714 | De'Longhi SpA | 498237 |
| 463423 | Enel SpA | 4788786 |
| 52934 | Eni SpA | 990154 |
| 9728 | Ferrari NV | 3819371 |
| 99953 | FinecoBank Banca Fineco SpA | 2444834 |
| 21985 | Generali | 872479 |
| 8271 | Infrastrutture Wireless Italiane SpA(b) | 75600 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Italy - 2.9% - (continued)** | **Italy - 2.9% - (continued)** | **Italy - 2.9% - (continued)** |
| 617847 | Intesa Sanpaolo SpA | $4013199 |
| 148380 | Iren SpA | 461643 |
| 10313 | Leonardo SpA | 561951 |
| 18518 | Lottomatica Group SpA | 472836 |
| 28025 | Maire SpA | 412975 |
| 5977 | Moncler SpA | 403869 |
| 14610 | Nexi SpA(b) | 68145 |
| 11513 | Poste Italiane SpA(b) | 275442 |
| 7170 | Prysmian SpA | 716628 |
| 35224 | Recordati Industria Chimica e Farmaceutica SpA | 2080569 |
| 3439 | Reply SpA | 457422 |
| 51626 | Snam SpA | 343336 |
| 303640 | Telecom Italia SpA\* | 170878 |
| 38733 | Terna - Rete Elettrica Nazionale | 408513 |
| 100334 | UniCredit SpA | 7495834 |
| 9377 | Unipol Assicurazioni SpA | 215143 |
| 78639 | Webuild SpA | 308825 |
|  | Total Italy | 36257809 |
|  **Japan - 18.9%** | **Japan - 18.9%** | **Japan - 18.9%** |
| 17500 | ABC-Mart Inc. | 303710 |
| 19900 | Advantest Corp. | 2642130 |
| 58600 | Aeon Co., Ltd. | 1061599 |
| 5200 | AGC Inc. | 179759 |
| 13000 | Aisin Corp. | 231277 |
| 24200 | Ajinomoto Co., Inc. | 561112 |
| 5300 | ANA Holdings Inc. | 99962 |
| 29900 | Anritsu Corp. | 453521 |
| 15200 | Anycolor Inc. | 626446 |
| 39700 | Asahi Group Holdings Ltd. | 460611 |
| 108300 | Asahi Intecc Co., Ltd. | 2029735 |
| 33900 | Asahi Kasei Corp. | 282923 |
| 18000 | Asics Corp. | 430110 |
| 46800 | Astellas Pharma Inc. | 589429 |
| 41000 | Azbil Corp. | 386215 |
| 14400 | Bandai Namco Holdings Inc. | 421824 |
| 9600 | BIPROGY Inc. | 370246 |
| 14500 | Bridgestone Corp. | 679597 |
| 22400 | Canon Inc. | 660301 |
| 61600 | Capcom Co., Ltd. | 1507213 |
| 20100 | Central Japan Railway Co. | 548574 |
| 13100 | Chiba Bank Ltd. (The) | 137869 |
| 19200 | Chubu Electric Power Co., Inc. | 300097 |
| 17800 | Chugai Pharmaceutical Co., Ltd. | 959653 |
| 27200 | Credit Saison Co., Ltd. | 683581 |
| 9200 | Dai Nippon Printing Co., Ltd. | 155447 |
| 47500 | Daicel Corp. | 399611 |
| 8700 | Daifuku Co., Ltd. | 275929 |
| 93400 | Dai-ichi Life Holdings Inc. | 728320 |
| 83900 | Daiichi Sankyo Co., Ltd. | 2070843 |
| 32900 | Daikin Industries Ltd. | 4268565 |
| 7500 | Daito Trust Construction Co., Ltd. | 143390 |
| 14500 | Daiwa House Industry Co., Ltd. | 494448 |
| 35400 | Daiwa Securities Group Inc. | 293244 |
| 45500 | Denso Corp. | 598964 |
| 7800 | Dentsu Soken Inc. | 394959 |
| 2300 | Disco Corp. | 643297 |
| 24800 | East Japan Railway Co. | 641366 |
| 36600 | Ebara Corp. | 957082 |
| 6200 | Eisai Co., Ltd. | 193995 |
| 70150 | ENEOS Holdings Inc. | 461743 |
| 228800 | FANUC Corp. | 7331360 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** |
| 9800 | Fast Retailing Co., Ltd. | $3590015 |
| 10600 | Food & Life Cos., Ltd. | 477181 |
| 19800 | Fuji Corp. | 433684 |
| 3900 | Fuji Electric Co., Ltd. | 275804 |
| 80500 | FUJIFILM Holdings Corp. | 1731084 |
| 6600 | Fujikura Ltd. | 757669 |
| 45400 | Fujitsu Ltd. | 1216272 |
| 22200 | GS Yuasa Corp. | 590535 |
| 5900 | Hankyu Hanshin Holdings Inc. | 148091 |
| 500 | Hikari Tsushin Inc. | 139019 |
| 201000 | Hitachi Ltd. | 6395719 |
| 96000 | Honda Motor Co., Ltd. | 969669 |
| 4200 | Horiba Ltd. | 388475 |
| 38500 | Hoya Corp. | 5776577 |
| 12100 | Hulic Co., Ltd. | 133495 |
| 11400 | Ibiden Co., Ltd. | 866866 |
| 17185 | Idemitsu Kosan Co., Ltd. | 127847 |
| 26700 | IHI Corp. | 475706 |
| 38200 | INFRONEER Holdings Inc. | 490345 |
| 21500 | Inpex Corp. | 450866 |
| 12500 | Isuzu Motors Ltd. | 200686 |
| 60200 | ITOCHU Corp. | 3623954 |
| 3700 | Japan Airlines Co., Ltd. | 68835 |
| 140500 | Japan Exchange Group Inc. | 1610380 |
| 768 | Japan Hotel REIT Investment Corp., Class A Shares | 424255 |
| 47000 | Japan Post Bank Co., Ltd. | 564918 |
| 45800 | Japan Post Holdings Co., Ltd. | 449959 |
| 4000 | Japan Post Insurance Co., Ltd. | 111234 |
| 31600 | Japan Tobacco Inc. | 1188737 |
| 14700 | JFE Holdings Inc. | 180171 |
| 14100 | JX Advanced Metals Corp. | 150542 |
| 11500 | Kajima Corp. | 428327 |
| 23400 | Kandenko Co., Ltd. | 740958 |
| 8700 | Kaneka Corp. | 244423 |
| 24000 | Kansai Electric Power Co., Inc. (The) | 410448 |
| 12000 | Kao Corp. | 484904 |
| 3900 | Kawasaki Heavy Industries Ltd. | 246554 |
| 8300 | Kawasaki Kisen Kaisha Ltd. | 110494 |
| 311600 | KDDI Corp. | 5378122 |
| 16000 | Keyence Corp. | 5440916 |
| 15500 | Kikkoman Corp. | 141930 |
| 13200 | Kinden Corp. | 547709 |
| 3500 | Kioxia Holdings Corp.\* | 210434 |
| 20000 | Kirin Holdings Co., Ltd. | 313806 |
| 4800 | Kobe Bussan Co., Ltd. | 116450 |
| 24500 | Komatsu Ltd. | 802376 |
| 2600 | Konami Group Corp. | 396623 |
| 23500 | Kubota Corp. | 341964 |
| 33300 | Kyocera Corp. | 455381 |
| 5300 | Kyowa Kirin Co., Ltd. | 89181 |
| 42000 | Kyushu Electric Power Co., Inc. | 468569 |
| 8600 | Lasertec Corp. | 1557498 |
| 33300 | Lion Corp. | 352680 |
| 73800 | LY Corp. | 199998 |
| 10400 | M3 Inc. | 170955 |
| 6400 | Makita Corp. | 186669 |
| 36300 | Marubeni Corp. | 956837 |
| 8300 | MatsukiyoCocokara & Co. | 153321 |
| 136800 | Mebuki Financial Group Inc. | 892569 |
| 8700 | Meidensha Corp. | 322846 |
| 8500 | MinebeaMitsumi Inc. | 172466 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** |
| 30700 | Mitsubishi Chemical Group Corp. | $173151 |
| 83200 | Mitsubishi Corp. | 1971182 |
| 49700 | Mitsubishi Electric Corp. | 1353027 |
| 76700 | Mitsubishi Estate Co., Ltd. | 1818671 |
| 23200 | Mitsubishi HC Capital Inc. | 185404 |
| 83000 | Mitsubishi Heavy Industries Ltd. | 2095231 |
| 296900 | Mitsubishi UFJ Financial Group Inc. | 4669433 |
| 63500 | Mitsui & Co., Ltd. | 1685258 |
| 13100 | Mitsui E&S Co., Ltd. | 575487 |
| 67800 | Mitsui Fudosan Co., Ltd. | 796898 |
| 10500 | Mitsui Kinzoku Co., Ltd. | 1197305 |
| 8900 | Mitsui OSK Lines Ltd. | 252541 |
| 63990 | Mizuho Financial Group Inc. | 2253932 |
| 112000 | MonotaRO Co., Ltd. | 1638594 |
| 14900 | Morinaga Milk Industry Co., Ltd. | 357681 |
| 129500 | MS&AD Insurance Group Holdings Inc. | 2893606 |
| 153100 | Murata Manufacturing Co., Ltd. | 3147432 |
| 33400 | NEC Corp. | 1261676 |
| 9500 | Nexon Co., Ltd. | 231276 |
| 33400 | NHK Spring Co., Ltd. | 545060 |
| 20000 | Nidec Corp. | 252017 |
| 65800 | Nintendo Co., Ltd. | 5577118 |
| 213 | Nippon Building Fund Inc., REIT | 203568 |
| 14300 | Nippon Electric Glass Co., Ltd. | 530064 |
| 19400 | Nippon Express Holdings Inc. | 412127 |
| 22000 | Nippon Paint Holdings Co., Ltd. | 143406 |
| 4200 | Nippon Sanso Holdings Corp. | 136637 |
| 125000 | Nippon Steel Corp. | 503022 |
| 10600 | Nippon Yusen KK | 335846 |
| 13600 | Nissan Chemical Corp. | 459484 |
| 53200 | Nissan Motor Co., Ltd.\* | 130377 |
| 72000 | Nissui Corp. | 569774 |
| 11500 | Nitori Holdings Co., Ltd. | 198933 |
| 11700 | Nitto Boseki Co., Ltd. | 1022271 |
| 17200 | Nitto Denko Corp. | 424886 |
| 77400 | Nomura Holdings Inc. | 583157 |
| 61180 | Nomura Research Institute Ltd. | 2459303 |
| 768600 | NTT Inc. | 766018 |
| 17000 | Obayashi Corp. | 346414 |
| 87100 | Obic Co., Ltd. | 2801289 |
| 29600 | Olympus Corp. | 399249 |
| 6900 | Open House Group Co., Ltd. | 405442 |
| 1000 | Oracle Corp. Japan | 85935 |
| 27700 | Oriental Land Co., Ltd. | 534200 |
| 29800 | ORIX Corp. | 812823 |
| 9400 | Osaka Gas Co., Ltd. | 329781 |
| 5900 | Otsuka Corp. | 116658 |
| 11300 | Otsuka Holdings Co., Ltd. | 640327 |
| 24800 | PAL Group Holdings Co., Ltd. | 345394 |
| 50500 | Pan Pacific International Holdings Corp. | 306115 |
| 60100 | Panasonic Holdings Corp. | 756007 |
| 41500 | Rakuten Group Inc.\* | 253490 |
| 58600 | Recruit Holdings Co., Ltd. | 3029456 |
| 758400 | Renesas Electronics Corp. | 8982701 |
| 53200 | Resona Holdings Inc. | 541209 |
| 34200 | Resorttrust Inc. | 425695 |
| 11800 | Ryohin Keikaku Co., Ltd. | 234033 |
| 40200 | Sankyo Co., Ltd. | 695209 |
| 6300 | Sankyu Inc. | 340549 |
| 5100 | Sanrio Co., Ltd. | 182260 |
| 35000 | Santen Pharmaceutical Co., Ltd. | 358234 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** |
| 25400 | Sanwa Holdings Corp. | $654053 |
| 28200 | Sawai Group Holdings Co., Ltd. | 357759 |
| 15400 | SBI Holdings Inc. | 323982 |
| 2000 | SCREEN Holdings Co., Ltd. | 164202 |
| 4000 | SCSK Corp. | 145768 |
| 10900 | Secom Co., Ltd. | 368462 |
| 5400 | Seibu Holdings Inc. | 167596 |
| 10300 | Sekisui Chemical Co., Ltd. | 175241 |
| 14800 | Sekisui House Ltd. | 331214 |
| 53700 | Seven & i Holdings Co., Ltd. | 739196 |
| 6700 | SG Holdings Co., Ltd. | 66944 |
| 67100 | Shimadzu Corp. | 1914934 |
| 7500 | Shimano Inc. | 798240 |
| 129200 | Shin-Etsu Chemical Co., Ltd. | 3896557 |
| 19700 | Shionogi & Co., Ltd. | 337464 |
| 11500 | Shiseido Co., Ltd. | 163791 |
| 20900 | SMC Corp. | 7339559 |
| 754500 | Softbank Corp. | 1078261 |
| 36700 | SoftBank Group Corp. | 3948342 |
| 141000 | Sompo Holdings Inc. | 4464915 |
| 158400 | Sony Financial Group Inc.\* | 149872 |
| 275300 | Sony Group Corp. | 8073926 |
| 16400 | Subaru Corp. | 367556 |
| 17100 | Sugi Holdings Co., Ltd. | 403339 |
| 11400 | Sumitomo Bakelite Co., Ltd. | 371425 |
| 28100 | Sumitomo Corp. | 880802 |
| 18500 | Sumitomo Electric Industries Ltd. | 726678 |
| 6600 | Sumitomo Metal Mining Co., Ltd. | 217056 |
| 270500 | Sumitomo Mitsui Financial Group Inc. | 8189295 |
| 15900 | Sumitomo Mitsui Trust Group Inc. | 460060 |
| 7900 | Sumitomo Realty & Development Co., Ltd. | 381423 |
| 3400 | Suntory Beverage & Food Ltd. | 107768 |
| 42400 | Suzuki Motor Corp. | 662352 |
| 7800 | SWCC Corp. | 531893 |
| 58300 | Sysmex Corp. | 558565 |
| 12700 | T&D Holdings Inc. | 275824 |
| 12800 | Taiheiyo Cement Corp. | 310403 |
| 3800 | Taisei Corp. | 324660 |
| 41054 | Takeda Pharmaceutical Co., Ltd. | 1183115 |
| 50200 | TDK Corp. | 821962 |
| 218900 | Terumo Corp. | 3438030 |
| 5400 | TIS Inc. | 178247 |
| 2300 | Toho Co., Ltd. | 132417 |
| 47000 | Tokio Marine Holdings Inc. | 1656936 |
| 11500 | Tokyo Electron Ltd. | 2370668 |
| 7800 | Tokyo Gas Co., Ltd. | 316058 |
| 6900 | Tokyo Metro Co., Ltd. | 70904 |
| 18900 | Tokyo Ohka Kogyo Co., Ltd. | 724607 |
| 7900 | Tokyo Seimitsu Co., Ltd. | 522823 |
| 22700 | Tokyo Tatemono Co., Ltd. | 501698 |
| 13300 | Tokyu Corp. | 155080 |
| 65200 | Tokyu Fudosan Holdings Corp. | 606460 |
| 6200 | TOPPAN Holdings Inc. | 199991 |
| 34200 | Toray Industries Inc. | 222168 |
| 7300 | Toyo Suisan Kaisha Ltd. | 524198 |
| 20400 | Toyo Tire Corp. | 560553 |
| 17900 | Toyoda Gosei Co., Ltd. | 408924 |
| 4400 | Toyota Industries Corp. | 492443 |
| 339500 | Toyota Motor Corp. | 6855094 |
| 17800 | Toyota Tsusho Corp. | 575652 |
| 3300 | Trend Micro Inc. | 164656 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** | **Japan - 18.9% - (continued)** |
| 12100 | Tsumura & Co. | $302503 |
| 6800 | Tsuruha Holdings Inc. | 120523 |
| 32600 | Unicharm Corp. | 190987 |
| 10500 | West Japan Railway Co. | 208779 |
| 47100 | Yamaguchi Financial Group Inc. | 614361 |
| 22000 | Yamaha Motor Co., Ltd. | 159463 |
| 5700 | Yokogawa Electric Corp. | 182078 |
| 23200 | Yokohama Financial Group Inc. | 183296 |
| 2800 | Zensho Holdings Co., Ltd. | 168721 |
| 10300 | ZOZO Inc. | 88477 |
|  | Total Japan | 235068627 |
|  **Luxembourg - 0.2%** | **Luxembourg - 0.2%** | **Luxembourg - 0.2%** |
| 40287 | ArcelorMittal SA | 1736476 |
| 4657 | CVC Capital Partners PLC(b) | 76939 |
| 3222 | Eurofins Scientific SE | 219251 |
| 13409 | Millicom International Cellular SA | 711615 |
| 9399 | Tenaris SA | 189630 |
|  | Total Luxembourg | 2933911 |
|  **Macau - 0.0%@** | **Macau - 0.0%@** | **Macau - 0.0%@** |
| 58400 | Sands China Ltd. | 159736 |
|  **Mexico - 0.0%@** | **Mexico - 0.0%@** | **Mexico - 0.0%@** |
| 5521 | Fresnillo PLC | 192633 |
|  **Netherlands - 5.2%** | **Netherlands - 5.2%** | **Netherlands - 5.2%** |
| 14656 | ABN AMRO Bank NV, Dutch Certificate, GDR(b) | 496353 |
| 659 | Adyen NV\*(b) | 1025374 |
| 33272 | Aegon Ltd. | 267260 |
| 96730 | Akzo Nobel NV | 6304119 |
| 1572 | Argenx SE\* | 1431326 |
| 2363 | ASM International NV | 1310711 |
| 19216 | ASML Holding NV | 20380239 |
| 13391 | ASR Nederland NV | 901639 |
| 5348 | BE Semiconductor Industries NV | 812969 |
| 6942 | Euronext NV(b) | 1065208 |
| 2640 | EXOR NV | 221781 |
| 13504 | Ferrovial SE | 883767 |
| 3388 | Heineken Holding NV | 241847 |
| 91135 | Heineken NV | 7418888 |
| 1287 | IMCD NV | 115316 |
| 170563 | ING Groep NV | 4426288 |
| 4317 | JDE Peet's NV | 158280 |
| 23173 | Koninklijke Ahold Delhaize NV | 957843 |
| 4595 | Koninklijke Heijmans NV | 321435 |
| 98104 | Koninklijke KPN NV | 447692 |
| 215744 | Koninklijke Philips NV\* | 6078387 |
| 5478 | Nebius Group NV, Class A Shares\* | 519698 |
| 6785 | NN Group NV | 492191 |
| 33489 | Prosus NV\* | 2107603 |
| 5579 | QIAGEN NV | 266090 |
| 3029 | Randstad NV | 117983 |
| 51539 | Stellantis NV | 550771 |
| 121730 | Universal Music Group NV | 3117189 |
| 24041 | Wolters Kluwer NV | 2554350 |
|  | Total Netherlands | 64992597 |
|  **New Zealand - 0.1%** | **New Zealand - 0.1%** | **New Zealand - 0.1%** |
| 40319 | Auckland International Airport Ltd. | 185050 |
| 20347 | Contact Energy Ltd. | 112432 |
| 15038 | Fisher & Paykel Healthcare Corp., Ltd. | 321837 |
| 24727 | Infratil Ltd. | 165543 |
| 33439 | Meridian Energy Ltd. | 108047 |
| 4308 | Xero Ltd.\* | 345994 |
|  | Total New Zealand | 1238903 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Norway - 0.5%** | **Norway - 0.5%** | **Norway - 0.5%** |
| 8552 | Aker BP ASA | $208040 |
| 94425 | DNB Bank ASA | 2521300 |
| 19673 | Equinor ASA | 450939 |
| 5008 | Gjensidige Forsikring ASA | 140091 |
| 11344 | Kongsberg Gruppen ASA | 268765 |
| 11779 | Mowi ASA | 267144 |
| 134594 | Norsk Hydro ASA | 962397 |
| 19166 | Orkla ASA | 205002 |
| 1761 | Salmar ASA | 102811 |
| 36287 | Scatec ASA\*(b) | 356684 |
| 16592 | Telenor ASA | 239606 |
| 3984 | Yara International ASA | 145420 |
|  | Total Norway | 5868199 |
|  **Poland - 0.0%@** | **Poland - 0.0%@** | **Poland - 0.0%@** |
| 7782 | InPost SA\* | 91106 |
|  **Portugal - 0.2%** | **Portugal - 0.2%** | **Portugal - 0.2%** |
| 205700 | Banco Comercial Portugues SA, Class R Shares | 196160 |
| 81309 | EDP SA | 363005 |
| 10576 | Galp Energia SGPS SA | 212454 |
| 61184 | Jeronimo Martins SGPS SA | 1450315 |
|  | Total Portugal | 2221934 |
|  **Singapore - 1.4%** | **Singapore - 1.4%** | **Singapore - 1.4%** |
| 1099358 | CapitaLand Ascendas REIT | 2386636 |
| 158628 | CapitaLand Integrated Commercial Trust, REIT | 288000 |
| 57700 | CapitaLand Investment Ltd. | 118144 |
| 54340 | DBS Group Holdings Ltd. | 2275298 |
| 61024 | Grab Holdings Ltd., Class A Shares\* | 332581 |
| 257200 | Keppel DC REIT | 459182 |
| 39000 | Keppel Ltd. | 307759 |
| 86400 | Oversea-Chinese Banking Corp., Ltd. | 1233986 |
| 16815 | Sea Ltd., ADR\* | 2337453 |
| 22300 | Sembcorp Industries Ltd. | 105697 |
| 173100 | Sheng Siong Group Ltd. | 363603 |
| 44450 | Singapore Airlines Ltd. | 222579 |
| 20400 | Singapore Exchange Ltd. | 266010 |
| 39700 | Singapore Technologies Engineering Ltd. | 254838 |
| 534000 | Singapore Telecommunications Ltd. | 1946330 |
| 135103 | United Overseas Bank Ltd. | 3545699 |
| 80000 | UOL Group Ltd. | 520223 |
| 56800 | Wilmar International Ltd. | 142065 |
|  | Total Singapore | 17106083 |
|  **South Africa - 0.0%@** | **South Africa - 0.0%@** | **South Africa - 0.0%@** |
| 57442 | Investec PLC | 415579 |
|  **South Korea - 1.5%** | **South Korea - 1.5%** | **South Korea - 1.5%** |
| 14556 | Classys Inc. | 582056 |
| 674 | Hyosung Heavy Industries Corp. | 875951 |
| 4061 | Hyundai Rotem Co., Ltd. | 487071 |
| 9267 | IsuPetasys Co., Ltd. | 909194 |
| 27480 | JB Financial Group Co., Ltd. | 451651 |
| 14075 | Kia Corp. | 1096005 |
| 2276 | KIWOOM Securities Co., Ltd. | 424899 |
| 12127 | LEENO Industrial Inc. | 567482 |
| 2357 | LG Innotek Co., Ltd. | 380477 |
| 10496 | Netmarble Corp.(b) | 379734 |
| 1387 | PharmaResearch Co., Ltd. | 444245 |
| 8436 | Poongsan Corp. | 571211 |
| 15639 | Samsung E&A Co., Ltd. | 272330 |
| 106570 | Samsung Electronics Co., Ltd. | 7293296 |
| 4074 | Samsung Fire & Marine Insurance Co., Ltd. | 1337276 |
| 5239 | Sanil Electric Co., Ltd. | 513164 |
| 40670 | Shinhan Financial Group Co., Ltd. | 2168970 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **South Korea - 1.5% - (continued)** | **South Korea - 1.5% - (continued)** | **South Korea - 1.5% - (continued)** |
| 9819 | Silicon2 Co., Ltd.\* | $304414 |
|  | Total South Korea | 19059426 |
|  **Spain - 3.1%** | **Spain - 3.1%** | **Spain - 3.1%** |
| 624 | Acciona SA | 125335 |
| 4654 | ACS Actividades de Construccion y Servicios SA | 430639 |
| 19490 | Aena SME SA(b) | 530155 |
| 44085 | Amadeus IT Group SA | 3246085 |
| 39701 | Atalaya Mining Copper SA | 373955 |
| 309095 | Banco Bilbao Vizcaya Argentaria SA | 6662062 |
| 129320 | Banco de Sabadell SA | 468821 |
| 384869 | Banco Santander SA | 4111269 |
| 188230 | Bankinter SA | 2964572 |
| 100880 | CaixaBank SA | 1122058 |
| 12691 | Cellnex Telecom SA(b) | 380581 |
| 8492 | EDP Renovaveis SA | 113047 |
| 8539 | Endesa SA | 309567 |
| 7354 | Grifols SA | 89943 |
| 279985 | Iberdrola SA | 5912183 |
| 20767 | Indra Sistemas SA | 1109857 |
| 126437 | Industria de Diseno Textil SA | 7085354 |
| 10500 | Logista Integral SA | 358504 |
| 192943 | Mapfre SA | 892532 |
| 49264 | Merlin Properties Socimi SA, REIT | 726857 |
| 3522 | Naturgy Energy Group SA | 108343 |
| 6811 | Redeia Corp. SA | 121477 |
| 29360 | Repsol SA | 544837 |
| 94491 | Telefonica SA | 409283 |
|  | Total Spain | 38197316 |
|  **Sweden - 2.5%** | **Sweden - 2.5%** | **Sweden - 2.5%** |
| 6878 | AddTech AB, Class B Shares | 236629 |
| 7301 | Alfa Laval AB | 344463 |
| 25457 | Assa Abloy AB, Class B Shares | 968759 |
| 70438 | Atlas Copco AB, Class A Shares | 1199444 |
| 191212 | Atlas Copco AB, Class B Shares | 2926068 |
| 19076 | Avanza Bank Holding AB | 749229 |
| 11165 | Beijer Ref AB, Class B Shares | 177996 |
| 7733 | Boliden AB\* | 370620 |
| 330749 | Electrolux AB, Class B Shares\* | 2101919 |
| 17088 | Epiroc AB, Class A Shares | 366919 |
| 9702 | Epiroc AB, Class B Shares | 186832 |
| 12710 | EQT AB | 438216 |
| 15039 | Essity AB, Class B Shares | 415764 |
| 3300 | Evolution AB(b) | 225461 |
| 16569 | Fastighets AB Balder, Class B Shares\* | 119124 |
| 12583 | H & M Hennes & Mauritz AB, Class B Shares | 228196 |
| 275567 | Hexagon AB, Class B Shares | 3230168 |
| 1892 | Holmen AB, Class B Shares | 69219 |
| 2076 | Industrivarden AB, Class A Shares | 86950 |
| 5461 | Industrivarden AB, Class C Shares | 228922 |
| 6879 | Indutrade AB | 170736 |
| 4075 | Investment AB Latour, Class B Shares | 97382 |
| 46982 | Investor AB, Class B Shares | 1600286 |
| 1894 | L E Lundbergforetagen AB, Class B Shares | 100472 |
| 6350 | Lifco AB, Class B Shares | 233212 |
| 10403 | Loomis AB, Class B Shares | 418482 |
| 19246 | NCC AB, Class B Shares | 442413 |
| 39580 | Nibe Industrier AB, Class B Shares | 146471 |
| 8173 | Saab AB, Class B Shares | 411848 |
| 5522 | Sagax AB, Class B Shares | 118078 |
| 27030 | Sandvik AB | 817684 |
| 12710 | Securitas AB, Class B Shares | 193683 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Sweden - 2.5% - (continued)** | **Sweden - 2.5% - (continued)** | **Sweden - 2.5% - (continued)** |
| 39785 | Skandinaviska Enskilda Banken AB, Class A Shares | $789803 |
| 8894 | Skanska AB, Class B Shares | 228254 |
| 9099 | SKF AB, Class B Shares | 238141 |
| 6419 | Spotify Technology SA\* | 3844147 |
| 306385 | Storskogen Group AB, Class B Shares | 364566 |
| 15280 | Svenska Cellulosa AB SCA, Class B Shares | 198491 |
| 120516 | Svenska Handelsbanken AB, Class A Shares | 1670078 |
| 22432 | Swedbank AB, Class A Shares | 714462 |
| 5394 | Swedish Orphan Biovitrum AB\* | 193655 |
| 13860 | Tele2 AB, Class B Shares | 220376 |
| 71390 | Telefonaktiebolaget LM Ericsson, Class B Shares | 687742 |
| 61275 | Telia Co. AB | 245810 |
| 5823 | Trelleborg AB, Class B Shares | 244448 |
| 40414 | Volvo AB, Class B Shares | 1211344 |
| 44405 | Wihlborgs Fastigheter AB | 432409 |
|  | Total Sweden | 30705371 |
|  **Switzerland - 7.5%** | **Switzerland - 7.5%** | **Switzerland - 7.5%** |
| 59048 | ABB Ltd., Class Registered Shares | 4251610 |
| 8872 | Accelleron Industries AG | 700814 |
| 16837 | Adecco Group AG, Class Registered Shares | 470214 |
| 43964 | Alcon AG | 3500252 |
| 9832 | Avolta AG | 539965 |
| 1036 | Baloise Holding AG, Class Registered Shares | 271022 |
| 842 | Banque Cantonale Vaudoise, Class Registered Shares | 102118 |
| 106 | Barry Callebaut AG, Class Registered Shares | 170083 |
| 250 | Belimo Holding AG, Class Registered Shares | 244147 |
| 711 | BKW AG | 148402 |
| 112 | Chocoladefabriken Lindt & Spruengli AG | 1649756 |
| 3 | Chocoladefabriken Lindt & Spruengli AG, Class Registered Shares | 447139 |
| 27080 | Cie Financiere Richemont SA, Class Registered Shares | 5752230 |
| 13678 | Coca-Cola HBC AG\* | 685567 |
| 4669 | DKSH Holding AG | 326514 |
| 4422 | DSM-Firmenich AG | 362915 |
| 176 | EMS-Chemie Holding AG, Class Registered Shares | 120035 |
| 3984 | Galderma Group AG | 794527 |
| 5737 | Galenica AG(b) | 650713 |
| 883 | Geberit AG, Class Registered Shares | 688710 |
| 241 | Givaudan SA, Class Registered Shares | 1015824 |
| 401530 | Glencore PLC\* | 1921323 |
| 938 | Helvetia Holding AG, Class Registered Shares | 243399 |
| 13157 | Holcim AG\* | 1233061 |
| 5260 | Julius Baer Group Ltd. | 376340 |
| 827 | Kardex Holding AG, Class Registered Shares | 286726 |
| 1246 | Kuehne + Nagel International AG, Class Registered Shares | 250276 |
| 3884 | Logitech International SA, Class Registered Shares | 437595 |
| 8289 | Lonza Group AG, Class Registered Shares | 5689389 |
| 66492 | Nestlé SA, Class Registered Shares | 6605432 |
| 49169 | Novartis AG, Class Registered Shares | 6411179 |
| 11170 | On Holding AG, Class A Shares\* | 491368 |
| 580 | Partners Group Holding AG | 684942 |
| 4530 | PSP Swiss Property AG, Class Registered Shares | 801405 |
| 62233 | Roche Holding AG | 23812870 |
| 10685 | Sandoz Group AG | 755530 |
| 1043 | Schindler Holding AG | 372873 |
| 580 | Schindler Holding AG, Class Registered Shares | 196916 |
| 29827 | SGS SA, Class Registered Shares | 3421187 |
| 3978 | Sika AG, Class Registered Shares | 785225 |
| 1295 | Sonova Holding AG, Class Registered Shares | 323366 |
| 17450 | Sportradar Group AG, Class A Shares\* | 383900 |
| 17361 | STMicroelectronics NV | 399309 |
| 2852 | Straumann Holding AG, Class Registered Shares | 325286 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Switzerland - 7.5% - (continued)** | **Switzerland - 7.5% - (continued)** | **Switzerland - 7.5% - (continued)** |
| 4133 | Sulzer AG, Class Registered Shares | $722043 |
| 755 | Swatch Group AG (The) | 152505 |
| 743 | Swiss Life Holding AG, Class Registered Shares | 814848 |
| 2152 | Swiss Prime Site AG, Class Registered Shares | 317406 |
| 7713 | Swiss Re AG | 1355567 |
| 657 | Swisscom AG, Class Registered Shares | 471390 |
| 1966 | Swissquote Group Holding SA, Class Registered Shares | 1217021 |
| 5631 | Temenos AG, Class Registered Shares | 505393 |
| 81846 | UBS Group AG, Class Registered Shares | 3146971 |
| 6305 | VAT Group AG(b) | 2780856 |
| 698 | Ypsomed Holding AG, Class Registered Shares | 287456 |
| 3770 | Zurich Insurance Group AG | 2710309 |
|  | Total Switzerland | 93583219 |
|  **Taiwan - 0.6%** | **Taiwan - 0.6%** | **Taiwan - 0.6%** |
| 106000 | Hon Hai Precision Industry Co., Ltd. | 761483 |
| 29000 | Taiwan Semiconductor Manufacturing Co., Ltd. | 1333214 |
| 20430 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 5955549 |
|  | Total Taiwan | 8050246 |
|  **United Kingdom - 16.4%** | **United Kingdom - 16.4%** | **United Kingdom - 16.4%** |
| 24959 | 3i Group PLC | 1044307 |
| 6701 | Admiral Group PLC | 281254 |
| 28616 | Anglo American PLC | 1082621 |
| 3391 | ARM Holdings PLC, ADR\* | 459684 |
| 11036 | Ashtead Group PLC | 706195 |
| 8690 | Associated British Foods PLC | 245640 |
| 120112 | AstraZeneca PLC | 22263216 |
| 22761 | Auto Trader Group PLC(b) | 192523 |
| 77999 | Aviva PLC | 673338 |
| 50581 | Babcock International Group PLC | 759795 |
| 164357 | BAE Systems PLC | 3591818 |
| 79665 | Balfour Beatty PLC | 742475 |
| 1902976 | Barclays PLC | 10811190 |
| 103154 | Barratt Redrow PLC | 538812 |
| 63368 | Beazley PLC | 667898 |
| 38949 | Berkeley Group Holdings PLC | 1936537 |
| 1350567 | BP PLC | 8119558 |
| 111329 | British American Tobacco PLC | 6518068 |
| 87339 | British Land Co. PLC (The), REIT | 470425 |
| 153536 | BT Group PLC | 368061 |
| 39997 | Bunzl PLC | 1145677 |
| 124971 | Centrica PLC | 283717 |
| 5415 | Coca-Cola Europacific Partners PLC | 496501 |
| 136378 | Compass Group PLC | 4282648 |
| 12212 | Computacenter PLC | 480157 |
| 151340 | ConvaTec Group PLC(b) | 472336 |
| 7440 | Cranswick PLC | 508195 |
| 266652 | Currys PLC | 465030 |
| 327528 | Diageo PLC | 7504389 |
| 54996 | Drax Group PLC | 540725 |
| 41352 | easyJet PLC | 273366 |
| 24079 | Endeavour Mining PLC | 1106702 |
| 61014 | Entain PLC | 627443 |
| 2066 | Games Workshop Group PLC | 530930 |
| 10190 | Genus PLC | 354767 |
| 168268 | GSK PLC | 3991716 |
| 696644 | Haleon PLC | 3419073 |
| 47585 | Halma PLC | 2246343 |
| 174153 | Harbour Energy PLC | 481117 |
| 23123 | Hikma Pharmaceuticals PLC | 475833 |
| 618708 | HSBC Holdings PLC | 8760290 |
| 16412 | ICG PLC | 450816 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **United Kingdom - 16.4% - (continued)** | **United Kingdom - 16.4% - (continued)** | **United Kingdom - 16.4% - (continued)** |
| 13786 | IMI PLC | $444327 |
| 20055 | Imperial Brands PLC | 851452 |
| 38993 | Inchcape PLC | 397643 |
| 14706 | Indivior PLC\* | 494122 |
| 33720 | Informa PLC | 428499 |
| 3788 | InterContinental Hotels Group PLC | 502161 |
| 31896 | International Consolidated Airlines Group SA | 167763 |
| 4193 | Intertek Group PLC | 256885 |
| 41434 | J Sainsbury PLC | 176702 |
| 64950 | JD Sports Fashion PLC | 66462 |
| 17484 | JET2 PLC | 325342 |
| 279164 | Kingfisher PLC | 1129574 |
| 17188 | Land Securities Group PLC, REIT | 137712 |
| 151154 | Legal & General Group PLC | 494293 |
| 3285175 | Lloyds Banking Group PLC | 4160417 |
| 28773 | London Stock Exchange Group PLC | 3393811 |
| 204399 | LondonMetric Property PLC, REIT | 509269 |
| 55092 | M&G PLC | 198713 |
| 12571 | Marex Group PLC | 437345 |
| 53416 | Marks & Spencer Group PLC | 245794 |
| 30906 | Melrose Industries PLC | 243807 |
| 751791 | National Grid PLC | 11395213 |
| 515644 | NatWest Group PLC | 4299774 |
| 2993 | Next PLC | 559670 |
| 55594 | OSB Group PLC | 421410 |
| 15717 | Pearson PLC | 207411 |
| 18824 | Phoenix Group Holdings PLC | 173561 |
| 152696 | Reckitt Benckiser Group PLC | 11824469 |
| 203144 | RELX PLC | 8154213 |
| 64583 | Rentokil Initial PLC | 355701 |
| 29136 | Rio Tinto PLC | 2095453 |
| 666598 | Rolls-Royce Holdings PLC | 9438138 |
| 275039 | Sage Group PLC (The) | 3911582 |
| 19403 | Schroders PLC | 99887 |
| 351552 | Segro PLC, REIT | 3320204 |
| 7093 | Severn Trent PLC | 264462 |
| 246595 | Shell PLC | 9079260 |
| 133629 | Smith & Nephew PLC | 2219486 |
| 32308 | Smiths Group PLC | 1045446 |
| 16863 | Softcat PLC | 323387 |
| 1975 | Spirax Group PLC | 175337 |
| 30722 | SSE PLC | 894079 |
| 38814 | St. James's Place PLC | 715781 |
| 182776 | Standard Chartered PLC | 4054602 |
| 328326 | Tesco PLC | 1957107 |
| 110191 | Trainline PLC\*(b) | 344413 |
| 210310 | Tritax Big Box REIT PLC | 413741 |
| 105713 | Unilever PLC | 6356895 |
| 17837 | United Utilities Group PLC | 291933 |
| 510381 | Vodafone Group PLC | 637421 |
| 9926 | Weir Group PLC (The) | 364731 |
| 229786 | WH Smith PLC | 2087018 |
| 29312 | Whitbread PLC | 966583 |
| 15902 | Wise PLC, Class A Shares\* | 185599 |
|  | Total United Kingdom | 204067246 |
|  **United States - 0.6%** | **United States - 0.6%** | **United States - 0.6%** |
| 213716 | Carnival Corp.\* | 5509598 |
| 9529 | Kiniksa Pharmaceuticals International PLC, Class A Shares\* | 405173 |
| 7713 | Liberty Media Corp.-Liberty Formula One, Class C Shares\* | 740294 |
| 526000 | Nexteer Automotive Group Ltd. | 398845 |
|  | Total United States | 7053910 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Shares/Units** | | **Security** | **Value** |
| **Uruguay - 0.0%@** | **Uruguay - 0.0%@** | **Uruguay - 0.0%@** | **Uruguay - 0.0%@** |
| 228 |  | MercadoLibre Inc.\* | $472366 |
|  |  | **TOTAL COMMON STOCKS**<br> (Cost - $793,771,343) | **1200607258** |
| **PREFERRED STOCKS - 0.1%** | **PREFERRED STOCKS - 0.1%** | **PREFERRED STOCKS - 0.1%** | **PREFERRED STOCKS - 0.1%** |
| **Germany - 0.1%** | **Germany - 0.1%** | **Germany - 0.1%** | **Germany - 0.1%** |
| 1209 |  | Bayerische Motoren Werke AG, Class Preferred Shares | 113926 |
| 3180 |  | Dr ING hc F Porsche AG, Class Preferred Shares(b) | 164638 |
| 4164 |  | Henkel AG & Co. KGaA, Class Preferred Shares | 336168 |
| 4147 |  | Porsche Automobil Holding SE, Class Preferred Shares | 178576 |
| 710 |  | Sartorius AG, Class Preferred Shares | 207072 |
| 5246 |  | Volkswagen AG, Class Preferred Shares | 598577 |
|  |  | **TOTAL PREFERRED STOCKS**<br> (Cost - $1,668,063) | **1598957** |
| **OPEN END MUTUAL FUND SECURITY - 0.1%** | **OPEN END MUTUAL FUND SECURITY - 0.1%** | **OPEN END MUTUAL FUND SECURITY - 0.1%** | **OPEN END MUTUAL FUND SECURITY - 0.1%** |
| **United States - 0.1%** | **United States - 0.1%** | **United States - 0.1%** | **United States - 0.1%** |
| 18811 |  | Vanguard FTSE Developed Markets ETF, Common Class Shares<br> (Cost - $819,661) | **1158193** |
|  |  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $796,259,067) | **1203364408** |
| **Face**<br> **Amount†** |  |  |  |
| **SHORT-TERM INVESTMENTS (d) - 2.4%** | **SHORT-TERM INVESTMENTS (d) - 2.4%** | **SHORT-TERM INVESTMENTS (d) - 2.4%** | **SHORT-TERM INVESTMENTS (d) - 2.4%** |
| **MONEY MARKET FUND - 0.0%@** | **MONEY MARKET FUND - 0.0%@** | **MONEY MARKET FUND - 0.0%@** | **MONEY MARKET FUND - 0.0%@** |
| $353814 |  | Invesco STIT - Government & Agency Portfolio, Institutional Class, 4.027%(e)<br> (Cost - $353,814) | **353814** |
| **TIME DEPOSITS - 2.4%** | **TIME DEPOSITS - 2.4%** | **TIME DEPOSITS - 2.4%** | **TIME DEPOSITS - 2.4%** |
| 237665 | <sup>AUD</sup> | ANZ National Bank - Hong Kong, 2.300% due 12/1/25 | 155611 |
| 3809114 |  | ANZ National Bank - London, 3.220% due 12/1/25 | 3809114 |
|  |  | BBH - New York: |  |
| 64223 | <sup>DKK</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.600% due 12/1/25 | 9972 |
| 572762 | <sup>SEK</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.660% due 12/1/25 | 60623 |
| 8911 | <sup>NZD</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1.100% due 12/1/25 | 5111 |
| 504638 | <sup>NOK</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2.720% due 12/1/25 | 49845 |
| 69704 | <sup>CHF</sup> | BNP Paribas - Paris, (0.300)% due 12/1/25 | 86740 |
|  |  | Citibank - London: |  |
| 990463 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.880% due 12/1/25 | 1148590 |
| 60856 | <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2.910% due 12/1/25 | 80528 |
| 6610092 |  | Citibank - New York, 3.220% due 12/1/25 | 6610092 |
| 639204 | <sup>HKD</sup> | HSBC Bank - Hong Kong, 0.980% due 12/1/25 | 82101 |
| 151018 | <sup>SGD</sup> | HSBC Bank - Singapore, 0.350% due 12/1/25 | 116535 |
| 3051537 |  | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25 | 3051537 |
| 133749 | <sup>CAD</sup> | Royal Bank of Canada - Toronto, 1.080% due 12/1/25 | 95668 |
| 13409904 |  | Skandinaviska Enskilda Banken AB - Stockholm, 3.220% due 12/1/25 | 13409904 |
| 49862225 | <sup>JPY</sup> | Sumitomo Mitsui Banking Corp. - Tokyo, 0.120% due 12/1/25 | 319200 |
|  |  | **TOTAL TIME DEPOSITS**<br> (Cost - $29,091,171) | **29091171** |
|  |  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $29,444,985) | **29444985** |
|  |  | **TOTAL INVESTMENTS - 99.1%**<br> (Cost - $825,704,052) | **1232809393** |
|  |  | Other Assets in Excess of Liabilities - 0.9% | 10792820 |
|  |  | **TOTAL NET ASSETS - 100.0%** | $**1243602213** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

\* Non-income producing security.

---

| | |
|:---|:---|
| @ | The amount is less than 0.05%.  |

---

(a) Illiquid security.

(b) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30,
2025, amounts to $14,759,233 and represents 1.2% of net assets.

(c) All or a portion of this security is on loan (See Note 1).

(d) Inclusive of all short-term holdings, including investments of collateral received from securities lending
transactions. Excluding such collateral, the percentage of portfolio holdings would be 2.4%.

(e) Represents investments of collateral received from securities lending transactions.

At November 30, 2025, for International Equity Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross**<br> **Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net**<br> **Unrealized<br>Appreciation** |
|  International Equity Fund | $825704052 | $455803954 | $(48615700) | $407188254 |

---

**<u>Abbreviations used in this schedule:</u>**

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| ETF | Exchange-Traded Fund |
| GDR | Global Depositary Receipt |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Security Sector^** | | |
|  Financials | 19.0 | % |
|  Industrials | 18.0 |  |
|  Health Care | 12.8 |  |
|  Information Technology | 11.7 |  |
|  Consumer Discretionary | 11.0 |  |
|  Consumer Staples | 7.2 |  |
|  Materials | 5.8 |  |
|  Communication Services | 4.4 |  |
|  Utilities | 3.0 |  |
|  Energy | 2.7 |  |
|  Real Estate | 2.0 |  |
|  Short-Term Investments | 2.4 |  |
|  Total Investments | 100.0 | %+ |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

+ Does not reflect investments of collateral received from securities lending transactions.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Equity Fund** 

At November 30, 2025, International Equity Fund had open exchange-traded futures contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of<br>Contracts** | **Expiration<br>Date<br>(Month/Year)** | **Notional<br>Amount** | **Value** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro STOXX 50 Futures | 20 | 12/25 | $1290772 | $1315971 | $25199 |
| &nbsp;&nbsp;&nbsp;&nbsp; FTSE 100 Index Futures | 6 | 12/25 | 756677 | 773783 | 17106 |
| &nbsp;&nbsp;&nbsp;&nbsp; SPI 200 Index Futures | 2 | 12/25 | 286650 | 282329 | (4321) |
| &nbsp;&nbsp;&nbsp;&nbsp; TOPIX Index Futures | 4 | 12/25 | 820445 | 865374 | 44929 |
|  |  |  |  |  | $82913 |

---

At November 30, 2025, International Equity Fund had deposited cash of $204,139 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

**<u>Currency abbreviations used in this schedule:</u>** 

---

| | |
|:---|:---|
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **COMMON STOCKS - 97.3%**  | **COMMON STOCKS - 97.3%**  | **COMMON STOCKS - 97.3%**  |
|  **Australia - 0.0%@** | **Australia - 0.0%@** | **Australia - 0.0%@** |
| 128000 | MMG Ltd.\* | $114032 |
|  **Brazil - 5.1%**  | **Brazil - 5.1%**  | **Brazil - 5.1%**  |
| 132891 | Ambev SA | 345162 |
| 35249 | Axia Energia | 412848 |
| 5428 | Axia Energia, Class Preferred Shares | 68183 |
| 148617 | B3 SA - Brasil Bolsa Balcao | 416643 |
| 42982 | Banco Bradesco SA | 134836 |
| 33915 | Banco BTG Pactual SA | 343202 |
| 445408 | Banco do Brasil SA | 1875534 |
| 284682 | BB Seguridade Participacoes SA | 1819724 |
| 15025 | Caixa Seguridade Participacoes SA | 45585 |
| 13434 | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 354942 |
| 28327 | Cia Paranaense de Energia - Copel, Class Preferred Shares | 76176 |
| 7096 | CPFL Energia SA | 64853 |
| 20881 | Embraer SA | 328853 |
| 9640 | Energisa SA | 89097 |
| 20624 | Eneva SA\* | 76795 |
| 143568 | Engie Brasil Energia SA | 824347 |
| 33487 | Equatorial Energia SA | 249509 |
| 116618 | Inter & Co., Inc., Class A Shares | 1060058 |
| 4382 | JBS NV\* | 64544 |
| 5492 | JBS NV, Class A Shares\* | 80678 |
| 196000 | JSL SA | 247192 |
| 20467 | Klabin SA | 68040 |
| 396063 | Localiza Rent a Car SA | 3358510 |
| 13423 | MBRF Global Foods Co. SA | 48623 |
| 383616 | Motiva Infraestrutura de Mobilidade SA | 1148062 |
| 35000 | Multiplan Empreendimentos Imobiliarios SA | 197817 |
| 249840 | NU Holdings Ltd., Class A Shares\* | 4344718 |
| 107311 | Petroleo Brasileiro SA - Petrobras | 671266 |
| 88012 | Petroleo Brasileiro SA - Petrobras, ADR | 1103671 |
| 141762 | PRIO SA\* | 988515 |
| 429031 | Raia Drogasil SA | 1930388 |
| 275417 | Rede D'Or Sao Luiz SA(a) | 2406689 |
| 40743 | Rumo SA | 128652 |
| 172096 | Smartfit Escola de Ginastica e Danca SA | 846572 |
| 6039 | StoneCo Ltd., Class A Shares\* | 101757 |
| 97425 | Suzano SA | 868678 |
| 23500 | TIM SA | 111549 |
| 17165 | TOTVS SA | 137674 |
| 21149 | Ultrapar Participações SA | 87152 |
| 102587 | Vale SA | 1295735 |
| 110105 | Vale SA, Class B Shares, ADR | 1388424 |
| 367960 | Vibra Energia SA | 1715595 |
| 340302 | WEG SA | 2821900 |
| 11742 | XP Inc., Class A Shares | 231435 |
|  | Total Brazil | 34980183 |
|  **Canada - 0.0%@** | **Canada - 0.0%@** | **Canada - 0.0%@** |
| 6700 | China Gold International Resources Corp., Ltd. | 128874 |
|  **Chile - 0.6%**  | **Chile - 0.6%**  | **Chile - 0.6%**  |
| 78179 | Antofagasta PLC | 2860745 |
| 1266261 | Banco de Chile | 238925 |
| 2818 | Banco de Credito e Inversiones SA | 163669 |
| 2141522 | Banco Santander Chile | 160730 |
| 25605 | Cencosud SA | 80512 |
| 32401 | Empresas CMPC SA | 45274 |
| 9413 | Empresas COPEC SA | 67413 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Chile - 0.6% - (continued)** | **Chile - 0.6% - (continued)** | **Chile - 0.6% - (continued)** |
| 476095 | Enel Americas SA | $46224 |
| 917604 | Enel Chile SA | 71569 |
| 17667 | Falabella SA | 114226 |
| 6671962 | Latam Airlines Group SA | 160400 |
|  | Total Chile | 4009687 |
|  **China - 20.3%**  | **China - 20.3%**  | **China - 20.3%**  |
| 9300 | 360 Security Technology Inc., Class A Shares | 17935 |
| 3900 | 37 Interactive Entertainment Network Technology Group Co., Ltd., Class A Shares | 11377 |
| 47500 | 3SBio Inc.\*(a) | 189863 |
| 24000 | AAC Technologies Holdings Inc. | 113488 |
| 200 | Accelink Technologies Co., Ltd., Class A Shares | 1723 |
| 794 | Advanced Micro-Fabrication Equipment Inc., Class A Shares | 30228 |
| 3000 | AECC Aviation Power Co., Ltd., Class A Shares | 15794 |
| 154700 | Agricultural Bank of China Ltd., Class A Shares | 175957 |
| 763000 | Agricultural Bank of China Ltd., Class H Shares(b) | 572290 |
| 11877 | Aier Eye Hospital Group Co., Ltd., Class A Shares | 19341 |
| 13600 | Air China Ltd., Class A Shares\* | 15476 |
| 18000 | Akeso Inc.\*(a) | 285185 |
| 31400 | Aluminum Corp. of China Ltd., Class A Shares | 46830 |
| 98000 | Aluminum Corp. of China Ltd., Class H Shares(b) | 132587 |
| 351 | Amlogic Shanghai Co., Ltd., Class A Shares\* | 4501 |
| 2500 | Angel Yeast Co., Ltd., Class A Shares | 14517 |
| 6100 | Anhui Conch Cement Co., Ltd., Class A Shares | 19727 |
| 379837 | Anhui Conch Cement Co., Ltd., Class H Shares(b) | 1144689 |
| 1000 | Anhui Gujing Distillery Co., Ltd., Class A Shares | 23550 |
| 3700 | Anhui Gujing Distillery Co., Ltd., Class B Shares | 46593 |
| 3500 | Anhui Jianghuai Automobile Group Corp., Ltd., Class A Shares\* | 24319 |
| 1900 | Anker Innovations Technology Co., Ltd., Class A Shares | 29769 |
| 85000 | ANTA Sports Products Ltd. | 927837 |
| 1759 | Autohome Inc., ADR | 41794 |
| 3600 | Avary Holding Shenzhen Co., Ltd., Class A Shares | 23022 |
| 44000 | AviChina Industry & Technology Co., Ltd., Class H Shares(b) | 21976 |
| 16800 | BAIC BluePark New Energy Technology Co., Ltd., Class A Shares\* | 18623 |
| 62968 | Baidu Inc., Class A Shares\* | 925512 |
| 47000 | Bank of Beijing Co., Ltd., Class A Shares | 37764 |
| 16600 | Bank of Changsha Co., Ltd., Class A Shares | 22642 |
| 4000 | Bank of Chengdu Co., Ltd., Class A Shares | 9549 |
| 54930 | Bank of China Ltd., Class A Shares | 47179 |
| 2005000 | Bank of China Ltd., Class H Shares(b) | 1206746 |
| 72500 | Bank of Communications Co., Ltd., Class A Shares | 77841 |
| 259000 | Bank of Communications Co., Ltd., Class H Shares(b) | 237829 |
| 14800 | Bank of Hangzhou Co., Ltd., Class A Shares | 32640 |
| 35590 | Bank of Jiangsu Co., Ltd., Class A Shares | 53969 |
| 16600 | Bank of Nanjing Co., Ltd., Class A Shares | 27168 |
| 14790 | Bank of Ningbo Co., Ltd., Class A Shares | 59353 |
| 29640 | Bank of Shanghai Co., Ltd., Class A Shares | 41425 |
| 30184 | Baoshan Iron & Steel Co., Ltd., Class A Shares | 30988 |
| 1300 | Beijing Compass Technology Development Co., Ltd., Class A Shares\* | 22641 |
| 9900 | Beijing Enlight Media Co., Ltd., Class A Shares | 23020 |
| 638 | Beijing Kingsoft Office Software Inc., Class A Shares | 28097 |
| 2000 | Beijing New Building Materials PLC, Class A Shares | 7165 |
| 760 | Beijing Roborock Technology Co., Ltd., Class A Shares | 16399 |
| 5880 | Beijing Tiantan Biological Products Corp., Ltd., Class A Shares | 14389 |
| 2600 | Beijing Tong Ren Tang Co., Ltd., Class A Shares | 12305 |
| 718 | Beijing Wantai Biological Pharmacy Enterprise Co., Ltd., Class A Shares\* | 4878 |
| 79200 | Beijing-Shanghai High Speed Railway Co., Ltd., Class A Shares | 57048 |
| 6507 | Bilibili Inc., Class Z Shares\* | 173896 |
| 68500 | BOE Technology Group Co., Ltd., Class A Shares | 37436 |
| 11900 | BYD Co., Ltd., Class A Shares | 160544 |
| 361890 | BYD Co., Ltd., Class H Shares(b) | 4547509 |
| 22500 | BYD Electronic International Co., Ltd. | 96183 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **China - 20.3% - (continued)** | **China - 20.3% - (continued)** | **China - 20.3% - (continued)** |
| 703 | Cambricon Technologies Corp., Ltd., Class A Shares\* | $132989 |
| 32800 | CGN Power Co., Ltd., Class A Shares | 17490 |
| 318000 | CGN Power Co., Ltd., Class H Shares(a)(b) | 123723 |
| 300 | Changchun High-Tech Industry Group Co., Ltd., Class A Shares | 4217 |
| 3900 | Chaozhou Three-Circle Group Co., Ltd., Class A Shares | 24245 |
| 6800 | Chifeng Jilong Gold Mining Co., Ltd., Class A Shares | 31167 |
| 232000 | China CITIC Bank Corp., Ltd., Class H Shares(b) | 213790 |
| 61000 | China Coal Energy Co., Ltd., Class H Shares(b) | 82509 |
| 54000 | China Communications Services Corp., Ltd., Class H Shares(b) | 33823 |
| 21100 | China Construction Bank Corp., Class A Shares | 28834 |
| 5195224 | China Construction Bank Corp., Class H Shares(b) | 5459318 |
| 9900 | China CSSC Holdings Ltd., Class A Shares | 48155 |
| 27298 | China Eastern Airlines Corp., Ltd., Class A Shares\* | 19494 |
| 47400 | China Energy Engineering Corp., Ltd., Class A Shares | 15763 |
| 91612 | China Everbright Bank Co., Ltd., Class A Shares | 46781 |
| 127000 | China Feihe Ltd.(a) | 67516 |
| 12000 | China Galaxy Securities Co., Ltd., Class A Shares | 27044 |
| 99000 | China Galaxy Securities Co., Ltd., Class H Shares(b) | 129844 |
| 10800 | China Greatwall Technology Group Co., Ltd., Class A Shares\* | 22929 |
| 76500 | China Hongqiao Group Ltd. | 304615 |
| 10000 | China International Capital Corp., Ltd., Class A Shares(c)(d) | 49352 |
| 46400 | China International Capital Corp., Ltd., Class H Shares(a)(b)(c)(d) | 112996 |
| 7200 | China Jushi Co., Ltd., Class A Shares | 15214 |
| 5300 | China Life Insurance Co., Ltd., Class A Shares | 32670 |
| 210000 | China Life Insurance Co., Ltd., Class H Shares(b) | 726886 |
| 10200 | China Literature Ltd.\*(a) | 49333 |
| 65000 | China Longyuan Power Group Corp., Ltd., Class H Shares(b) | 57502 |
| 84000 | China Mengniu Dairy Co., Ltd. | 162283 |
| 34800 | China Merchants Bank Co., Ltd., Class A Shares | 211394 |
| 1037328 | China Merchants Bank Co., Ltd., Class H Shares(b) | 6966707 |
| 17000 | China Merchants Energy Shipping Co., Ltd., Class A Shares | 21149 |
| 13200 | China Merchants Expressway Network & Technology Holdings Co., Ltd., Class A Shares | 18583 |
| 9230 | China Merchants Securities Co., Ltd., Class A Shares | 21294 |
| 6520 | China Merchants Shekou Industrial Zone Holdings Co., Ltd., Class A Shares | 8548 |
| 55920 | China Minsheng Banking Corp., Ltd., Class A Shares | 32352 |
| 216700 | China Minsheng Banking Corp., Ltd., Class H Shares(b) | 121105 |
| 102000 | China National Building Material Co., Ltd., Class H Shares(b) | 68687 |
| 19300 | China National Chemical Engineering Co., Ltd., Class A Shares | 20357 |
| 34000 | China National Nuclear Power Co., Ltd., Class A Shares | 41496 |
| 2470 | China National Software & Service Co., Ltd., Class A Shares\* | 15804 |
| 5200 | China Northern Rare Earth Group High-Tech Co., Ltd., Class A Shares | 33122 |
| 44000 | China Oilfield Services Ltd., Class H Shares(b) | 41026 |
| 12500 | China Pacific Insurance Group Co., Ltd., Class A Shares | 61518 |
| 73400 | China Pacific Insurance Group Co., Ltd., Class H Shares(b) | 291884 |
| 43800 | China Petroleum & Chemical Corp., Class A Shares | 35861 |
| 656000 | China Petroleum & Chemical Corp., Class H Shares(b) | 372077 |
| 27800 | China Railway Group Ltd., Class A Shares | 21366 |
| 138000 | China Railway Group Ltd., Class H Shares(b) | 69433 |
| 22980 | China Railway Signal & Communication Corp., Ltd., Class A Shares | 16920 |
| 4498 | China Resources Microelectronics Ltd., Class A Shares | 29568 |
| 148300 | China Resources Mixc Lifestyle Services Ltd.(a) | 846018 |
| 4836 | China Resources Sanjiu Medical & Pharmaceutical Co., Ltd., Class A Shares | 19226 |
| 13299 | China Shenhua Energy Co., Ltd., Class A Shares | 77343 |
| 94000 | China Shenhua Energy Co., Ltd., Class H Shares(b) | 481752 |
| 20400 | China Southern Airlines Co., Ltd., Class A Shares\* | 19594 |
| 90040 | China State Construction Engineering Corp., Ltd., Class A Shares | 66279 |
| 41600 | China Three Gorges Renewables Group Co., Ltd., Class A Shares | 24611 |
| 1735 | China Tourism Group Duty Free Corp., Ltd., Class A Shares | 19425 |
| 117100 | China Tower Corp., Ltd., Class H Shares(a)(b) | 185369 |
| 74800 | China United Network Communications Ltd., Class A Shares | 57187 |
| 15600 | China Vanke Co., Ltd., Class A Shares\* | 11891 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **China - 20.3% - (continued)** | **China - 20.3% - (continued)** | **China - 20.3% - (continued)** |
| 43500 | China Vanke Co., Ltd., Class H Shares\*(b) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20400 |
| 41900 | China Yangtze Power Co., Ltd., Class A Shares | 165843 |
| 52390 | China Zheshang Bank Co., Ltd., Class A Shares | 22750 |
| 16182 | Chongqing Changan Automobile Co., Ltd., Class A Shares | 27356 |
| 28000 | Chongqing Rural Commercial Bank Co., Ltd., Class A Shares | 25746 |
| 70000 | Chongqing Rural Commercial Bank Co., Ltd., Class H Shares(b) | 56541 |
| 3000 | Chongqing Zhifei Biological Products Co., Ltd., Class A Shares | 8722 |
| 120000 | CITIC Ltd. | 187926 |
| 22565 | CITIC Securities Co., Ltd., Class A Shares | 88205 |
| 47925 | CITIC Securities Co., Ltd., Class H Shares(b) | 165106 |
| 26600 | CMOC Group Ltd., Class A Shares | 61285 |
| 108000 | CMOC Group Ltd., Class H Shares(b) | 225106 |
| 1820 | CNGR Advanced Material Co., Ltd., Class A Shares | 10853 |
| 16100 | CNPC Capital Co., Ltd., Class A Shares | 20879 |
| 86871 | Contemporary Amperex Technology Co., Ltd., Class A Shares | 4603428 |
| 2000 | Contemporary Amperex Technology Co., Ltd., Class H Shares(b) | 121620 |
| 5300 | COSCO Shipping Energy Transportation Co., Ltd., Class A Shares | 9058 |
| 20320 | COSCO SHIPPING Holdings Co., Ltd., Class A Shares | 41985 |
| 80750 | COSCO SHIPPING Holdings Co., Ltd., Class H Shares(b) | 137466 |
| 51400 | CRRC Corp., Ltd., Class A Shares | 52912 |
| 106000 | CRRC Corp., Ltd., Class H Shares(b) | 84254 |
| 8700 | CSC Financial Co., Ltd., Class A Shares | 30564 |
| 2880 | CSPC Innovation Pharmaceutical Co., Ltd., Class A Shares | 13245 |
| 227120 | CSPC Pharmaceutical Group Ltd. | 231522 |
| 49700 | Daqin Railway Co., Ltd., Class A Shares | 38535 |
| 342200 | DaShenLin Pharmaceutical Group Co., Ltd., Class A Shares | 855737 |
| 600 | Dongfang Electric Corp., Ltd., Class A Shares | 1820 |
| 27025 | East Money Information Co., Ltd., Class A Shares | 89677 |
| 39445 | Eastroc Beverage Group Co., Ltd., Class A Shares | 1472031 |
| 900 | Ecovacs Robotics Co., Ltd., Class A Shares | 10026 |
| 1300 | Empyrean Technology Co., Ltd., Class A Shares | 19239 |
| 23900 | ENN Energy Holdings Ltd. | 218142 |
| 377843 | ENN Natural Gas Co., Ltd., Class A Shares | 1138719 |
| 2300 | Eoptolink Technology Inc. Ltd., Class A Shares | 113460 |
| 2581 | Eve Energy Co., Ltd., Class A Shares | 26157 |
| 7300 | Everbright Securities Co., Ltd., Class A Shares | 17921 |
| 4000 | Flat Glass Group Co., Ltd., Class A Shares | 9145 |
| 20800 | Focus Media Information Technology Co., Ltd., Class A Shares | 21645 |
| 9186 | Foshan Haitian Flavouring & Food Co., Ltd., Class A Shares | 48064 |
| 57500 | Fosun International Ltd. | 35961 |
| 17700 | Founder Securities Co., Ltd., Class A Shares | 19431 |
| 22400 | Foxconn Industrial Internet Co., Ltd., Class A Shares | 192932 |
| 120000 | Full Truck Alliance Co., Ltd., ADR | 1362000 |
| 4100 | Fuyao Glass Industry Group Co., Ltd., Class A Shares | 38247 |
| 16400 | Fuyao Glass Industry Group Co., Ltd., Class H Shares(a)(b) | 142029 |
| 3220 | Ganfeng Lithium Group Co., Ltd., Class A Shares | 28574 |
| 4600 | Ganfeng Lithium Group Co., Ltd., Class H Shares(a)(b) | 28899 |
| 21800 | GD Power Development Co., Ltd., Class A Shares | 17368 |
| 32200 | GDS Holdings Ltd., Class A Shares\* | 137362 |
| 15100 | GEM Co., Ltd., Class A Shares | 16117 |
| 28000 | Genscript Biotech Corp.\* | 53769 |
| 9000 | GF Securities Co., Ltd., Class A Shares | 26955 |
| 10400 | Giant Biogene Holding Co., Ltd.(a) | 48477 |
| 924 | Gigadevice Semiconductor Inc., Class A Shares | 26701 |
| 4300 | GoerTek Inc., Class A Shares | 18345 |
| 2700 | Goldwind Science & Technology Co., Ltd., Class A Shares | 5897 |
| 2233 | Goneo Group Co., Ltd., Class A Shares | 13542 |
| 2000 | Gotion High-tech Co., Ltd., Class A Shares | 11093 |
| 4100 | Great Wall Motor Co., Ltd., Class A Shares | 12722 |
| 68500 | Great Wall Motor Co., Ltd., Class H Shares(b) | 132036 |
| 2500 | Gree Electric Appliances Inc. of Zhuhai, Class A Shares | 14282 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **China - 20.3% - (continued)** | **China - 20.3% - (continued)** | **China - 20.3% - (continued)** |
| 2200 | Guangdong Haid Group Co., Ltd., Class A Shares | $17364 |
| 7700 | Guanghui Energy Co., Ltd., Class A Shares | 5445 |
| 15100 | Guangzhou Automobile Group Co., Ltd., Class A Shares | 19780 |
| 3220 | Guangzhou Tinci Materials Technology Co., Ltd., Class A Shares | 18838 |
| 3800 | Guolian Minsheng Securities Co., Ltd., Class A Shares | 5507 |
| 9400 | Guosen Securities Co., Ltd., Class A Shares | 17259 |
| 30178 | Guotai Haitong Securities Co., Ltd., Class A Shares | 81884 |
| 60864 | Guotai Haitong Securities Co., Ltd., Class H Shares(a)(b) | 121508 |
| 5900 | Guoyuan Securities Co., Ltd., Class A Shares | 6862 |
| 17542 | H World Group Ltd., ADR | 808686 |
| 58000 | Haidilao International Holding Ltd.(a) | 102682 |
| 13300 | Haier Smart Home Co., Ltd., Class A Shares | 51934 |
| 63400 | Haier Smart Home Co., Ltd., Class H Shares(b) | 218380 |
| 70600 | Hainan Airlines Holding Co., Ltd., Class A Shares\* | 17295 |
| 29200 | Hainan Airport Infrastructure Co., Ltd., Class A Shares | 20453 |
| 16000 | Haitian International Holdings Ltd. | 44907 |
| 4939 | Hangzhou First Applied Material Co., Ltd., Class A Shares | 9869 |
| 2700 | Hangzhou Silan Microelectronics Co., Ltd., Class A Shares | 10684 |
| 400 | Hangzhou Tigermed Consulting Co., Ltd., Class A Shares | 2892 |
| 38000 | Hansoh Pharmaceutical Group Co., Ltd.(a) | 196521 |
| 1600 | Henan Shenhuo Coal Industry & Electricity Power Co., Ltd., Class A Shares | 5565 |
| 256000 | Hengan International Group Co., Ltd. | 923922 |
| 10778 | Hengli Petrochemical Co., Ltd., Class A Shares | 28853 |
| 8200 | Hengtong Optic-electric Co., Ltd., Class A Shares | 22993 |
| 799 | Hithink RoyalFlush Information Network Co., Ltd., Class A Shares | 36405 |
| 156000 | Horizon Robotics, Class B Shares\* | 158701 |
| 900 | Hoshine Silicon Industry Co., Ltd., Class A Shares | 7166 |
| 21000 | Hua Hong Semiconductor Ltd., Class H Shares\*(a) | 202026 |
| 18400 | Huadian Power International Corp., Ltd., Class A Shares | 13411 |
| 1694 | Huadong Medicine Co., Ltd., Class A Shares | 10082 |
| 15100 | Huafon Chemical Co., Ltd., Class A Shares | 20128 |
| 1000 | Huagong Tech Co., Ltd., Class A Shares | 10337 |
| 7500 | Huaibei Mining Holdings Co., Ltd., Class A Shares | 13068 |
| 22500 | Huaneng Power International Inc., Class A Shares | 24779 |
| 114000 | Huaneng Power International Inc., Class H Shares(b) | 90968 |
| 2600 | Huaqin Technology Co., Ltd., Class A Shares | 32337 |
| 16000 | Huatai Securities Co., Ltd., Class A Shares | 47862 |
| 35800 | Huatai Securities Co., Ltd., Class H Shares(a)(b) | 84434 |
| 30500 | Huaxia Bank Co., Ltd., Class A Shares | 29902 |
| 289199 | Huayu Automotive Systems Co., Ltd., Class A Shares | 794106 |
| 1000 | Huizhou Desay Sv Automotive Co., Ltd., Class A Shares | 15595 |
| 3200 | Humanwell Healthcare Group Co., Ltd., Class A Shares | 8760 |
| 3785 | Hundsun Technologies Inc., Class A Shares | 15726 |
| 4476 | Hygon Information Technology Co., Ltd., Class A Shares | 138123 |
| 1600 | IEIT Systems Co., Ltd., Class A Shares | 13974 |
| 1400 | Iflytek Co., Ltd., Class A Shares | 9818 |
| 560 | Imeik Technology Development Co., Ltd., Class A Shares | 11532 |
| 111300 | Industrial & Commercial Bank of China Ltd., Class A Shares | 127694 |
| 1824000 | Industrial & Commercial Bank of China Ltd., Class H Shares(b) | 1514403 |
| 39200 | Industrial Bank Co., Ltd., Class A Shares | 117024 |
| 19760 | Industrial Securities Co., Ltd., Class A Shares | 18953 |
| 800 | Ingenic Semiconductor Co., Ltd., Class A Shares | 9029 |
| 62900 | Inner Mongolia BaoTou Steel Union Co., Ltd., Class A Shares | 21616 |
| 7700 | Inner Mongolia Dian Tou Energy Corp., Ltd., Class A Shares | 28394 |
| 16300 | Inner Mongolia Junzheng Energy & Chemical Industry Group Co., Ltd., Class A Shares | 11267 |
| 13600 | Inner Mongolia Yili Industrial Group Co., Ltd., Class A Shares | 56548 |
| 24400 | Inner Mongolia Yitai Coal Co., Ltd., Class B Shares | 46434 |
| 41000 | Innovent Biologics Inc.\*(a) | 497221 |
| 2200 | Isoftstone Information Technology Group Co., Ltd., Class A Shares | 14840 |
| 66200 | J&T Global Express Ltd.\* | 81567 |
| 4116 | JA Solar Technology Co., Ltd., Class A Shares\* | 7040 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **China - 20.3% - (continued)** | **China - 20.3% - (continued)** | **China - 20.3% - (continued)** |
| 4000 | JCET Group Co., Ltd., Class A Shares | $20364 |
| 31900 | JD Health International Inc.\*(a) | 251137 |
| 57000 | JD Logistics Inc.\*(a) | 89344 |
| 45437 | JD.com Inc., ADR | 1355386 |
| 86856 | JD.com Inc., Class A Shares | 1300014 |
| 7400 | Jiangsu Eastern Shenghong Co., Ltd., Class A Shares\* | 10068 |
| 46000 | Jiangsu Expressway Co., Ltd., Class H Shares(b) | 59197 |
| 1948 | Jiangsu Hengli Hydraulic Co., Ltd., Class A Shares | 27979 |
| 9701 | Jiangsu Hengrui Pharmaceuticals Co., Ltd., Class A Shares | 85394 |
| 3000 | Jiangsu King's Luck Brewery JSC Ltd., Class A Shares | 16046 |
| 1800 | Jiangsu Yanghe Distillery Co., Ltd., Class A Shares | 16860 |
| 3200 | Jiangsu Yuyue Medical Equipment & Supply Co., Ltd., Class A Shares | 16172 |
| 6200 | Jiangsu Zhongtian Technology Co., Ltd., Class A Shares | 13923 |
| 10600 | Jiangxi Copper Co., Ltd., Class A Shares | 56326 |
| 29000 | Jiangxi Copper Co., Ltd., Class H Shares(b) | 114782 |
| 9597 | Jinko Solar Co., Ltd., Class A Shares\* | 7656 |
| 10693 | Kanzhun Ltd., ADR | 236315 |
| 74000 | KE Holdings Inc., ADR | 1275020 |
| 57804 | KE Holdings Inc., Class A Shares | 334540 |
| 89000 | Kingdee International Software Group Co., Ltd.\* | 161802 |
| 27800 | Kingsoft Corp., Ltd. | 102252 |
| 121100 | Kuaishou Technology, Class B Shares(a) | 1059771 |
| 3200 | Kuang-Chi Technologies Co., Ltd., Class A Shares\* | 20457 |
| 2800 | Kunlun Tech Co., Ltd., Class A Shares\* | 17245 |
| 1888 | Kweichow Moutai Co., Ltd., Class A Shares | 387507 |
| 900 | Laopu Gold Co., Ltd., Class H Shares(b) | 77802 |
| 6600 | LB Group Co., Ltd., Class A Shares | 17168 |
| 1032000 | Lenovo Group Ltd. | 1287774 |
| 9000 | Lens Technology Co., Ltd., Class A Shares | 35149 |
| 35206 | Li Auto Inc., Class A Shares\* | 325545 |
| 66500 | Li Ning Co., Ltd. | 148519 |
| 14500 | Lingyi iTech Guangdong Co., Class A Shares | 28560 |
| 51500 | Longfor Group Holdings Ltd.(a) | 64427 |
| 9072 | LONGi Green Energy Technology Co., Ltd., Class A Shares\* | 23864 |
| 1012 | Loongson Technology Corp., Ltd., Class A Shares\* | 18945 |
| 15138 | Luxshare Precision Industry Co., Ltd., Class A Shares | 123458 |
| 1700 | Luzhou Laojiao Co., Ltd., Class A Shares | 32688 |
| 3400 | Mango Excellent Media Co., Ltd., Class A Shares | 12492 |
| 41000 | Mao Geping Cosmetics Co. Ltd, Class H Shares(b) | 477797 |
| 864 | Maxscend Microelectronics Co., Ltd., Class A Shares | 8472 |
| 105500 | Meitu Inc.\*(a) | 116920 |
| 140683 | Meituan, Class B Shares\*(a) | 1828861 |
| 36900 | Metallurgical Corp. of China Ltd., Class A Shares | 16630 |
| 129500 | Midea Group Co., Ltd., Class A Shares | 1463833 |
| 11900 | Midea Group Co., Ltd., Class H Shares(b) | 135526 |
| 12516 | MINISO Group Holding Ltd. | 62574 |
| 45500 | MINISO Group Holding Ltd., ADR | 904085 |
| 1749 | Montage Technology Co., Ltd., Class A Shares | 29466 |
| 10086 | Muyuan Foods Co., Ltd., Class A Shares | 72466 |
| 16595 | NARI Technology Co., Ltd., Class A Shares | 52004 |
| 5493 | National Silicon Industry Group Co., Ltd., Class A Shares\* | 16508 |
| 1180 | NAURA Technology Group Co., Ltd., Class A Shares | 71618 |
| 125625 | NetEase Inc. | 3474076 |
| 5400 | New China Life Insurance Co., Ltd., Class A Shares | 50229 |
| 28000 | New China Life Insurance Co., Ltd., Class H Shares(b) | 167331 |
| 6400 | New Hope Liuhe Co., Ltd., Class A Shares | 8522 |
| 34310 | New Oriental Education & Technology Group Inc. | 176854 |
| 788 | Ningbo Deye Technology Co., Ltd., Class A Shares | 9054 |
| 2100 | Ningbo Orient Wires & Cables Co., Ltd., Class A Shares | 17162 |
| 4500 | Ningbo Sanxing Medical Electric Co., Ltd., Class A Shares | 14452 |
| 4160 | Ningbo Tuopu Group Co., Ltd., Class A Shares | 37181 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **China - 20.3% - (continued)** | **China - 20.3% - (continued)** | **China - 20.3% - (continued)** |
| 10200 | Ningxia Baofeng Energy Group Co., Ltd., Class A Shares | $26001 |
| 52733 | NIO Inc., Class A Shares\* | 294826 |
| 56400 | Nongfu Spring Co., Ltd., Class H Shares(a)(b) | 354353 |
| 9000 | OFILM Group Co., Ltd., Class A Shares\* | 14387 |
| 1720 | OmniVision Integrated Circuits Group Inc. | 29128 |
| 14464 | Orient Securities Co., Ltd., Class A Shares | 21331 |
| 24800 | People's Insurance Co. Group of China Ltd. (The), Class A Shares | 30412 |
| 238000 | People's Insurance Co. Group of China Ltd. (The), Class H Shares(b) | 216206 |
| 21700 | PetroChina Co., Ltd., Class A Shares | 30002 |
| 612000 | PetroChina Co., Ltd., Class H Shares(b) | 683604 |
| 2025 | Pharmaron Beijing Co., Ltd., Class A Shares | 8324 |
| 192000 | PICC Property & Casualty Co., Ltd., Class H Shares(b) | 436486 |
| 42700 | Ping An Bank Co., Ltd., Class A Shares | 70148 |
| 18000 | Ping An Insurance Group Co. of China Ltd., Class A Shares | 150340 |
| 793368 | Ping An Insurance Group Co. of China Ltd., Class H Shares(b) | 5802317 |
| 850 | Piotech Inc., Class A Shares | 36613 |
| 18000 | Poly Developments & Holdings Group Co., Ltd., Class A Shares | 17232 |
| 15200 | Pop Mart International Group Ltd.(a) | 441709 |
| 45300 | Postal Savings Bank of China Co., Ltd., Class A Shares | 36411 |
| 258000 | Postal Savings Bank of China Co., Ltd., Class H Shares(a)(b) | 182405 |
| 22300 | Power Construction Corp. of China Ltd., Class A Shares | 17139 |
| 73621 | Proya Cosmetics Co., Ltd., Class A Shares | 732602 |
| 2673 | Qfin Holdings Inc., ADR | 52204 |
| 8300 | Qinghai Salt Lake Industry Co., Ltd., Class A Shares\* | 31033 |
| 4000 | Range Intelligent Computing Technology Group Co., Ltd., Class A Shares | 27040 |
| 3000 | Remegen Co., Ltd., Class H Shares\*(a)(b) | 35960 |
| 1100 | Rockchip Electronics Co., Ltd., Class A Shares | 28501 |
| 11850 | Rongsheng Petrochemical Co., Ltd., Class A Shares | 16290 |
| 11800 | SAIC Motor Corp., Ltd., Class A Shares | 25016 |
| 9500 | Sailun Group Co., Ltd., Class A Shares | 21451 |
| 6100 | Sanan Optoelectronics Co., Ltd., Class A Shares | 11410 |
| 18900 | Sany Heavy Industry Co., Ltd., Class A Shares | 54367 |
| 7247 | Satellite Chemical Co., Ltd., Class A Shares | 17320 |
| 20600 | SDIC Capital Co., Ltd., Class A Shares | 21363 |
| 14700 | SDIC Power Holdings Co., Ltd., Class A Shares | 28651 |
| 2700 | Seres Group Co., Ltd., Class A Shares | 48286 |
| 7700 | SF Holding Co., Ltd., Class A Shares | 41815 |
| 1267 | SG Micro Corp., Class A Shares | 11683 |
| 16700 | Shaanxi Coal Industry Co., Ltd., Class A Shares | 53607 |
| 5500 | Shandong Gold Mining Co., Ltd., Class A Shares | 28665 |
| 28500 | Shandong Gold Mining Co., Ltd., Class H Shares(a)(b) | 127684 |
| 3000 | Shandong Himile Mechanical Science & Technology Co., Ltd., Class A Shares | 29263 |
| 2250 | Shandong Hualu Hengsheng Chemical Co., Ltd., Class A Shares | 9011 |
| 14900 | Shandong Nanshan Aluminum Co., Ltd., Class A Shares | 9947 |
| 6800 | Shandong Sun Paper Industry JSC Ltd., Class A Shares | 14400 |
| 62400 | Shandong Weigao Group Medical Polymer Co., Ltd., Class H Shares(b) | 44549 |
| 1987 | Shanghai Baosight Software Co., Ltd., Class A Shares | 6005 |
| 891 | Shanghai BOCHU Electronic Technology Corp., Ltd., Class A Shares | 16721 |
| 23700 | Shanghai Electric Group Co., Ltd., Class A Shares\* | 29317 |
| 4000 | Shanghai Fosun Pharmaceutical Group Co., Ltd., Class A Shares | 15375 |
| 2000 | Shanghai International Airport Co., Ltd., Class A Shares | 8964 |
| 2700 | Shanghai Pharmaceuticals Holding Co., Ltd., Class A Shares | 6804 |
| 56200 | Shanghai Pudong Development Bank Co., Ltd., Class A Shares | 91262 |
| 5102 | Shanghai Putailai New Energy Technology Group Co., Ltd., Class A Shares | 19305 |
| 15800 | Shanghai RAAS Blood Products Co., Ltd., Class A Shares | 14824 |
| 19600 | Shanghai Rural Commercial Bank Co., Ltd., Class A Shares | 26106 |
| 1498 | Shanghai United Imaging Healthcare Co., Ltd., Class A Shares | 28241 |
| 7100 | Shanjin International Gold Co., Ltd., Class A Shares | 21405 |
| 6100 | Shanxi Coking Coal Energy Group Co., Ltd., Class A Shares | 5806 |
| 7400 | Shanxi Lu'an Environmental Energy Development Co., Ltd., Class A Shares | 13701 |
| 2140 | Shanxi Xinghuacun Fen Wine Factory Co., Ltd., Class A Shares | 58821 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **China - 20.3% - (continued)** | **China - 20.3% - (continued)** | **China - 20.3% - (continued)** |
| 1300 | Sharetronic Data Technology Co., Ltd., Class A Shares | $25852 |
| 18000 | Shenergy Co., Ltd., Class A Shares | 21386 |
| 4400 | Shengyi Technology Co., Ltd., Class A Shares | 35900 |
| 1638 | Shennan Circuits Co., Ltd., Class A Shares | 45346 |
| 48700 | Shenwan Hongyuan Group Co., Ltd., Class A Shares | 35530 |
| 295324 | Shenzhen Inovance Technology Co., Ltd., Class A Shares | 2956819 |
| 2900 | Shenzhen Kinwong Electronic Co., Ltd., Class A Shares | 27029 |
| 21334 | Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Class A Shares | 616286 |
| 1900 | Shenzhen New Industries Biomedical Engineering Co., Ltd., Class A Shares | 15836 |
| 3900 | Shenzhen Salubris Pharmaceuticals Co., Ltd., Class A Shares | 34174 |
| 1359 | Shenzhen Transsion Holdings Co., Ltd., Class A Shares | 12334 |
| 24200 | Shenzhou International Group Holdings Ltd. | 215851 |
| 609 | Sichuan Biokin Pharmaceutical Co., Ltd., Class A Shares\* | 32698 |
| 12000 | Sichuan Chuantou Energy Co., Ltd., Class A Shares | 24758 |
| 4400 | Sichuan Kelun Pharmaceutical Co., Ltd., Class A Shares | 21399 |
| 1500 | Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., Class H Shares\*(b) | 88107 |
| 17860 | Sichuan Road & Bridge Group Co., Ltd., Class A Shares | 23821 |
| 161206 | Sieyuan Electric Co., Ltd., Class A Shares | 3272165 |
| 603772 | Sinopharm Group Co., Ltd., Class H Shares(b) | 1556708 |
| 18000 | Sinotruk Hong Kong Ltd. | 62716 |
| 55000 | Smoore International Holdings Ltd.(a) | 93916 |
| 2000 | Spring Airlines Co., Ltd., Class A Shares | 15564 |
| 3640 | Sungrow Power Supply Co., Ltd., Class A Shares | 94540 |
| 19900 | Sunny Optical Technology Group Co., Ltd. | 163109 |
| 2800 | Sunwoda Electronic Co., Ltd., Class A Shares | 11708 |
| 1653 | SUPCON Technology Co., Ltd., Class A Shares | 11668 |
| 1900 | Suzhou Dongshan Precision Manufacturing Co., Ltd., Class A Shares | 20216 |
| 1960 | Suzhou TFC Optical Communication Co., Ltd., Class A Shares | 43932 |
| 48074 | TAL Education Group, ADR\* | 528814 |
| 8060 | TBEA Co., Ltd., Class A Shares | 24835 |
| 20020 | TCL Technology Group Corp., Class A Shares | 11596 |
| 4875 | TCL Zhonghuan Renewable Energy Technology Co., Ltd., Class A Shares\* | 6489 |
| 457655 | Tencent Holdings Ltd. | 36168991 |
| 50699 | Tencent Music Entertainment Group, ADR | 935397 |
| 4300 | Tianqi Lithium Corp., Class A Shares\* | 33445 |
| 782000 | Tingyi Cayman Islands Holding Corp. | 1199835 |
| 41200 | Tongcheng Travel Holdings Ltd. | 115829 |
| 31900 | Tongling Nonferrous Metals Group Co., Ltd., Class A Shares | 22992 |
| 10300 | Tongwei Co., Ltd., Class A Shares\* | 33395 |
| 6575 | Trina Solar Co., Ltd., Class A Shares\* | 16863 |
| 3000 | Tsingtao Brewery Co., Ltd., Class A Shares | 26979 |
| 18000 | Tsingtao Brewery Co., Ltd., Class H Shares(b) | 121805 |
| 3350 | UBTech Robotics Corp., Ltd., Class H Shares\*(b) | 48887 |
| 979 | Unigroup Guoxin Microelectronics Co., Ltd., Class A Shares | 10543 |
| 8160 | Unisplendour Corp., Ltd., Class A Shares | 28813 |
| 1418 | Verisilicon Microelectronics Shanghai Co., Ltd., Class A Shares\* | 31265 |
| 1500 | Victory Giant Technology Huizhou Co., Ltd., Class A Shares | 57593 |
| 9018 | Vipshop Holdings Ltd., ADR | 177114 |
| 4700 | Wanhua Chemical Group Co., Ltd., Class A Shares | 44683 |
| 12400 | Weichai Power Co., Ltd., Class A Shares | 30400 |
| 648200 | Weichai Power Co., Ltd., Class H Shares(b) | 1607081 |
| 7640 | Wens Foodstuff Group Co., Ltd., Class A Shares | 19533 |
| 8300 | Western Mining Co., Ltd., Class A Shares | 27060 |
| 11400 | Western Securities Co., Ltd., Class A Shares | 12952 |
| 2442 | Western Superconducting Technologies Co., Ltd., Class A Shares | 22836 |
| 1600 | Wingtech Technology Co., Ltd., Class A Shares\* | 9269 |
| 4880 | Wolong Electric Group Co., Ltd., Class A Shares | 28758 |
| 2038 | Wuhan Guide Infrared Co., Ltd., Class A Shares\* | 3541 |
| 5000 | Wuliangye Yibin Co., Ltd., Class A Shares | 83383 |
| 2960 | WUS Printed Circuit Kunshan Co., Ltd., Class A Shares | 29144 |
| 6764 | WuXi AppTec Co., Ltd., Class A Shares | 87596 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **China - 20.3% - (continued)** | **China - 20.3% - (continued)** | **China - 20.3% - (continued)** |
| 8748 | WuXi AppTec Co., Ltd., Class H Shares(a)(b) | $114200 |
| 98000 | Wuxi Biologics Cayman Inc.\*(a) | 393453 |
| 7500 | WuXi XDC Cayman Inc.\* | 63298 |
| 22000 | XCMG Construction Machinery Co., Ltd., Class A Shares | 32144 |
| 688000 | Xiaomi Corp., Class B Shares\*(a) | 3655145 |
| 2778 | Xinjiang Daqo New Energy Co., Ltd., Class A Shares\* | 11305 |
| 112000 | Xinyi Solar Holdings Ltd. | 46451 |
| 35222 | XPeng Inc., Class A Shares\* | 383827 |
| 23000 | XtalPi Holdings Ltd.\* | 29538 |
| 42000 | Yadea Group Holdings Ltd.(a) | 66647 |
| 10660 | Yankuang Energy Group Co., Ltd., Class A Shares | 21010 |
| 96700 | Yankuang Energy Group Co., Ltd., Class H Shares(b) | 126428 |
| 3700 | Yantai Jereh Oilfield Services Group Co., Ltd., Class A Shares | 29565 |
| 1470 | Yealink Network Technology Corp., Ltd., Class A Shares | 7029 |
| 5330 | Yonyou Network Technology Co., Ltd., Class A Shares\* | 10767 |
| 8200 | YTO Express Group Co., Ltd., Class A Shares | 19788 |
| 19984 | Yum China Holdings Inc. | 964099 |
| 7900 | Yunnan Aluminium Co., Ltd., Class A Shares | 27688 |
| 5000 | Yunnan Baiyao Group Co., Ltd., Class A Shares | 39668 |
| 7400 | Yunnan Yuntianhua Co., Ltd., Class A Shares | 32484 |
| 6100 | Yutong Bus Co., Ltd., Class A Shares | 26838 |
| 4000 | Zangge Mining Co., Ltd., Class A Shares | 34487 |
| 1600 | Zhangzhou Pientzehuang Pharmaceutical Co., Ltd., Class A Shares | 38902 |
| 48500 | Zhaojin Mining Industry Co., Ltd., Class H Shares(b) | 182649 |
| 10200 | Zhejiang China Commodities City Group Co., Ltd., Class A Shares | 23766 |
| 2100 | Zhejiang Chint Electrics Co., Ltd., Class A Shares | 8362 |
| 6400 | Zhejiang Dahua Technology Co., Ltd., Class A Shares | 17173 |
| 61680 | Zhejiang Expressway Co., Ltd., Class H Shares(b) | 59879 |
| 2158 | Zhejiang Huayou Cobalt Co., Ltd., Class A Shares | 18923 |
| 1900 | Zhejiang Jingsheng Mechanical & Electrical Co., Ltd., Class A Shares | 9831 |
| 5900 | Zhejiang Juhua Co., Ltd., Class A Shares | 28054 |
| 14782 | Zhejiang Leapmotor Technology Co., Ltd., Class H Shares\*(a)(b) | 100859 |
| 7200 | Zhejiang NHU Co., Ltd., Class A Shares | 24861 |
| 5500 | Zhejiang Sanhua Intelligent Controls Co., Ltd., Class A Shares | 33515 |
| 7000 | Zhejiang Wanfeng Auto Wheel Co., Ltd., Class A Shares | 15977 |
| 23800 | Zhejiang Zheneng Electric Power Co., Ltd., Class A Shares | 16943 |
| 7900 | Zheshang Securities Co., Ltd., Class A Shares | 12255 |
| 1820 | Zhongji Innolight Co., Ltd., Class A Shares | 132855 |
| 11600 | Zhongjin Gold Corp., Ltd., Class A Shares | 37317 |
| 2300 | Zhongtai Securities Co., Ltd., Class A Shares | 2159 |
| 1457 | Zhuzhou CRRC Times Electric Co., Ltd., Class A Shares | 10283 |
| 11200 | Zhuzhou CRRC Times Electric Co., Ltd., Class H Shares(b) | 55650 |
| 33400 | Zijin Mining Group Co., Ltd., Class A Shares | 136052 |
| 162000 | Zijin Mining Group Co., Ltd., Class H Shares(b) | 643064 |
| 13200 | Zoomlion Heavy Industry Science & Technology Co., Ltd., Class A Shares | 15103 |
| 3100 | ZTE Corp., Class A Shares | 18490 |
| 18000 | ZTE Corp., Class H Shares(b) | 72879 |
| 12405 | ZTO Express Cayman Inc. | 255664 |
|  | Total China | 138849842 |
|  **Colombia - 0.0%@** | **Colombia - 0.0%@** | **Colombia - 0.0%@** |
| 6956 | Grupo Cibest SA | 118557 |
| 12422 | Interconexion Electrica SA ESP | 83365 |
|  | Total Colombia | 201922 |
|  **Czech Republic - 0.1%** | **Czech Republic - 0.1%** | **Czech Republic - 0.1%** |
| 3706 | CEZ AS | 226632 |
| 1913 | Komercni Banka AS | 106992 |
| 6477 | Moneta Money Bank AS(a) | 58898 |
|  | Total Czech Republic | 392522 |
|  **Egypt - 0.3%** |  |  |
| 55480 | Commercial International Bank - Egypt (CIB) | 125188 |
| 819550 | Commercial International Bank - Egypt (CIB), Class Registered Shares, GDR | 1803216 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Egypt - 0.3% - (continued)** | **Egypt - 0.3% - (continued)** | **Egypt - 0.3% - (continued)** |
| 30598 | Eastern Co. SAE\* | $29603 |
|  | Total Egypt | 1958007 |
|  **France - 0.1%** | **France - 0.1%** | **France - 0.1%** |
| 4038 | Gaztransport Et Technigaz SA | 807688 |
|  **Greece - 0.9%** | **Greece - 0.9%** | **Greece - 0.9%** |
| 63109 | Alpha Bank SA | 257266 |
| 308610 | Eurobank Ergasias Services & Holdings SA | 1222245 |
| 1594 | FF Group\*(d)# |  |
| 5468 | Hellenic Telecommunications Organization SA | 108502 |
| 3520 | JUMBO SA | 111708 |
| 125902 | National Bank of Greece SA | 1971874 |
| 58803 | OPAP SA | 1201239 |
| 152101 | Piraeus Financial Holdings SA\* | 1247766 |
| 5371 | Public Power Corp. SA | 108400 |
|  | Total Greece | 6229000 |
|  **Hong Kong - 4.6%** | **Hong Kong - 4.6%** | **Hong Kong - 4.6%** |
| 297222 | AIA Group Ltd. | 3097119 |
| 718110 | Alibaba Group Holding Ltd. | 14152064 |
| 55364 | Alibaba Group Holding Ltd., ADR | 8708757 |
| 164000 | Alibaba Health Information Technology Ltd.\* | 117692 |
| 17500 | Beijing Enterprises Holdings Ltd. | 76596 |
| 464000 | Bosideng International Holdings Ltd. | 295868 |
| 28000 | C&D International Investment Group Ltd. | 59630 |
| 92800 | China Gas Holdings Ltd. | 102635 |
| 519000 | China Medical System Holdings Ltd. | 888405 |
| 43538 | China Merchants Port Holdings Co., Ltd. | 87896 |
| 110500 | China Overseas Land & Investment Ltd. | 189064 |
| 131000 | China Power International Development Ltd. | 57766 |
| 44000 | China Resources Beer Holdings Co., Ltd. | 157499 |
| 27600 | China Resources Gas Group Ltd. | 80949 |
| 89500 | China Resources Land Ltd. | 347555 |
| 64000 | China Resources Power Holdings Co., Ltd. | 152924 |
| 228000 | China Ruyi Holdings Ltd.\* | 71587 |
| 32000 | China State Construction International Holdings Ltd. | 38211 |
| 39600 | China Taiping Insurance Holdings Co., Ltd. | 88625 |
| 54000 | Chow Tai Fook Jewellery Group Ltd. | 94801 |
| 50000 | Far East Horizon Ltd. | 51188 |
| 158000 | Galaxy Entertainment Group Ltd. | 819382 |
| 707000 | GCL Technology Holdings Ltd.\* | 105549 |
| 170000 | Geely Automobile Holdings Ltd. | 370612 |
| 96000 | Guangdong Investment Ltd. | 92325 |
| 116000 | Kunlun Energy Co., Ltd. | 110766 |
| 2700 | NetEase Cloud Music Inc.\*(a) | 67151 |
| 3000 | Orient Overseas International Ltd. | 48738 |
| 290750 | Sino Biopharmaceutical Ltd. | 264017 |
| 1495000 | Want Want China Holdings Ltd. | 895773 |
| 1600 | Zijin Gold International Co., Ltd.\* | 28607 |
|  | Total Hong Kong | 31719751 |
|  **Hungary - 0.7%** | **Hungary - 0.7%** | **Hungary - 0.7%** |
| 125718 | MOL Hungarian Oil & Gas PLC | 1112027 |
| 33469 | OTP Bank Nyrt | 3481841 |
| 3677 | Richter Gedeon Nyrt | 108839 |
|  | Total Hungary | 4702707 |
|  **India - 15.5%** | **India - 15.5%** | **India - 15.5%** |
| 1569 | ABB India Ltd. | 91104 |
| 4372 | Adani Enterprises Ltd. | 111542 |
| 14919 | Adani Ports & Special Economic Zone Ltd. | 253233 |
| 80819 | Adani Power Ltd.\* | 133350 |
| 333000 | Aditya Birla Capital Ltd.\* | 1332403 |
| 1166 | Alkem Laboratories Ltd. | 74070 |
| 18959 | Ambuja Cements Ltd. | 116534 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **India - 15.5% - (continued)** | **India - 15.5% - (continued)** | **India - 15.5% - (continued)** |
| 6170 | APL Apollo Tubes Ltd. | $118679 |
| 51222 | Apollo Hospitals Enterprise Ltd. | 4206032 |
| 79699 | Ashok Leyland Ltd. | 140999 |
| 9241 | Asian Paints Ltd. | 297339 |
| 3407 | Astral Ltd. | 54981 |
| 10537 | AU Small Finance Bank Ltd.(a) | 112324 |
| 7814 | Aurobindo Pharma Ltd. | 107261 |
| 4515 | Avenue Supermarts Ltd.\*(a) | 201922 |
| 121436 | Axis Bank Ltd. | 1743079 |
| 1856 | Bajaj Auto Ltd. | 188506 |
| 79129 | Bajaj Finance Ltd. | 918560 |
| 10679 | Bajaj Finserv Ltd. | 250213 |
| 806 | Bajaj Holdings & Investment Ltd. | 103725 |
| 2232 | Balkrishna Industries Ltd. | 57808 |
| 28101 | Bank of Baroda | 91188 |
| 102669 | Bharat Electronics Ltd. | 473868 |
| 6960 | Bharat Forge Ltd. | 111956 |
| 34919 | Bharat Heavy Electricals Ltd. | 113645 |
| 41515 | Bharat Petroleum Corp., Ltd. | 167000 |
| 72474 | Bharti Airtel Ltd. | 1707381 |
| 198 | Bosch Ltd. | 79930 |
| 3012 | Britannia Industries Ltd. | 196987 |
| 3360 | BSE Ltd. | 109108 |
| 47609 | Canara Bank | 80750 |
| 21877 | CG Power & Industrial Solutions Ltd. | 164846 |
| 65701 | Cholamandalam Investment & Finance Co., Ltd. | 1276303 |
| 15666 | Cipla Ltd. | 268417 |
| 52582 | Coal India Ltd. | 221420 |
| 4130 | Colgate-Palmolive India Ltd. | 100144 |
| 2936 | Coromandel International Ltd. | 78083 |
| 4282 | Cummins India Ltd. | 214157 |
| 16912 | Dabur India Ltd. | 98190 |
| 136000 | Delhivery Ltd.\* | 648239 |
| 3468 | Divi's Laboratories Ltd. | 250970 |
| 1019 | Dixon Technologies India Ltd. | 166680 |
| 20484 | DLF Ltd. | 166197 |
| 15744 | Dr Reddy's Laboratories Ltd. | 221986 |
| 3846 | Eicher Motors Ltd. | 303626 |
| 67358 | Eternal Ltd.\* | 226670 |
| 6084 | Fortis Healthcare Ltd. | 62741 |
| 35213 | FSN E-Commerce Ventures Ltd.\* | 105203 |
| 59222 | GAIL India Ltd. | 116689 |
| 94009 | GMR Airports Ltd.\* | 114103 |
| 12040 | Godrej Consumer Products Ltd. | 154297 |
| 4526 | Godrej Properties Ltd.\* | 106780 |
| 8058 | Grasim Industries Ltd. | 246962 |
| 5781 | Havells India Ltd. | 93295 |
| 26729 | HCL Technologies Ltd. | 486130 |
| 4988 | HDFC Asset Management Co., Ltd.(a) | 149265 |
| 414642 | HDFC Bank Ltd. | 4683182 |
| 268842 | HDFC Bank Ltd., ADR | 9898762 |
| 27988 | HDFC Life Insurance Co., Ltd.(a) | 240474 |
| 3472 | Hero MotoCorp Ltd. | 239824 |
| 37965 | Hindalco Industries Ltd. | 343692 |
| 5597 | Hindustan Aeronautics Ltd. | 284354 |
| 25229 | Hindustan Petroleum Corp., Ltd. | 129270 |
| 23112 | Hindustan Unilever Ltd. | 639112 |
| 412 | Hitachi Energy India Ltd. | 102101 |
| 4546 | Hyundai Motor India Ltd. | 118397 |
| 148986 | ICICI Bank Ltd. | 2316485 |
| 197944 | ICICI Bank Ltd., ADR | 6181791 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **India - 15.5% - (continued)** | **India - 15.5% - (continued)** | **India - 15.5% - (continued)** |
| 7010 | ICICI Lombard General Insurance Co., Ltd.(a) | $154527 |
| 10058 | ICICI Prudential Life Insurance Co., Ltd.(a) | 69891 |
| 119973 | IDFC First Bank Ltd. | 107667 |
| 23366 | Indian Hotels Co., Ltd. (The), Class A Shares | 194712 |
| 75070 | Indian Oil Corp., Ltd. | 135864 |
| 7982 | Indian Railway Catering & Tourism Corp., Ltd. | 61320 |
| 443329 | Indus Towers Ltd.\* | 1989203 |
| 16128 | IndusInd Bank Ltd.\* | 154871 |
| 9654 | Info Edge India Ltd. | 143769 |
| 93920 | Infosys Ltd. | 1646073 |
| 90672 | Infosys Ltd., ADR(e) | 1584947 |
| 5337 | InterGlobe Aviation Ltd.(a) | 352563 |
| 84584 | ITC Ltd. | 382845 |
| 8783 | Jindal Stainless Ltd. | 75952 |
| 9969 | Jindal Steel Ltd. | 117016 |
| 408540 | Jio Financial Services Ltd. | 1399739 |
| 12171 | JSW Energy Ltd. | 66549 |
| 17161 | JSW Steel Ltd. | 223469 |
| 11798 | Jubilant Foodworks Ltd. | 79298 |
| 11490 | Kalyan Jewellers India Ltd. | 64967 |
| 17400 | KEI Industries Ltd. | 807198 |
| 149386 | Kotak Mahindra Bank Ltd. | 3551794 |
| 33896 | Larsen & Toubro Ltd. | 1543964 |
| 515000 | Lemon Tree Hotels Ltd.\*(a) | 912959 |
| 7722 | Lodha Developers Ltd.(a) | 99503 |
| 2225 | LTIMindtree Ltd.(a) | 151787 |
| 6264 | Lupin Ltd. | 145762 |
| 115910 | Mahindra & Mahindra Ltd. | 4872256 |
| 11571 | MakeMyTrip Ltd.\* | 826054 |
| 3608 | Mankind Pharma Ltd. | 91034 |
| 14859 | Marico Ltd. | 119259 |
| 3556 | Maruti Suzuki India Ltd. | 633164 |
| 21904 | Max Healthcare Institute Ltd. | 284818 |
| 3048 | Mphasis Ltd. | 96045 |
| 71 | MRF Ltd. | 121105 |
| 3376 | Muthoot Finance Ltd. | 141557 |
| 18790 | Nestle India Ltd. | 265311 |
| 75619 | NHPC Ltd. | 64933 |
| 106309 | NMDC Ltd. | 87990 |
| 121455 | NTPC Ltd. | 444507 |
| 69545 | Oberoi Realty Ltd. | 1283116 |
| 89092 | Oil & Natural Gas Corp., Ltd. | 242896 |
| 13625 | Oil India Ltd. | 63062 |
| 6016 | One 97 Communications Ltd.\* | 88893 |
| 553 | Oracle Financial Services Software Ltd. | 50124 |
| 185 | Page Industries Ltd. | 78795 |
| 10276 | PB Fintech Ltd.\* | 208797 |
| 3171 | Persistent Systems Ltd. | 225922 |
| 23014 | Petronet LNG Ltd. | 70120 |
| 75085 | Phoenix Mills Ltd. (The) | 1456360 |
| 2152 | PI Industries Ltd. | 81762 |
| 8798 | Pidilite Industries Ltd. | 145023 |
| 49000 | PN Gadgil Jewellers Ltd.\* | 343405 |
| 1429 | Polycab India Ltd. | 119289 |
| 41028 | Power Finance Corp., Ltd. | 166508 |
| 128662 | Power Grid Corp. of India Ltd. | 388941 |
| 4572 | Prestige Estates Projects Ltd. | 85591 |
| 76677 | Punjab National Bank | 106982 |
| 12011 | Rail Vikas Nigam Ltd. | 43560 |
| 36067 | REC Ltd. | 145494 |
| 625274 | Reliance Industries Ltd. | 10975858 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **India - 15.5% - (continued)** | **India - 15.5% - (continued)** | **India - 15.5% - (continued)** |
| 130607 | Samvardhana Motherson International Ltd. | $169988 |
| 7571 | SBI Cards & Payment Services Ltd. | 74600 |
| 12653 | SBI Life Insurance Co., Ltd.(a) | 278881 |
| 275 | Shree Cement Ltd. | 81306 |
| 39677 | Shriram Finance Ltd. | 378087 |
| 784 | Siemens Energy India Ltd.\* | 27720 |
| 2571 | Siemens Ltd. | 94937 |
| 790 | Solar Industries India Ltd. | 117696 |
| 3892 | SRF Ltd. | 127685 |
| 49382 | State Bank of India | 540963 |
| 26770 | Sun Pharmaceutical Industries Ltd. | 549979 |
| 2112 | Sundaram Finance Ltd. | 111784 |
| 1866 | Supreme Industries Ltd. | 70810 |
| 288923 | Suzlon Energy Ltd.\* | 174842 |
| 26885 | Swiggy Ltd.\* | 113407 |
| 3941 | Tata Communications Ltd. | 80077 |
| 123535 | Tata Consultancy Services Ltd. | 4345464 |
| 16465 | Tata Consumer Products Ltd. | 216034 |
| 62340 | Tata Motors Ltd.\*(c) | 245559 |
| 56032 | Tata Motors Passenger Vehicles Ltd. | 223693 |
| 42568 | Tata Power Co., Ltd. (The) | 185616 |
| 209386 | Tata Steel Ltd. | 393886 |
| 14888 | Tech Mahindra Ltd. | 252993 |
| 110925 | Titan Co., Ltd. | 4850970 |
| 3612 | Torrent Pharmaceuticals Ltd. | 150049 |
| 5829 | Torrent Power Ltd. | 85891 |
| 5074 | Trent Ltd. | 241379 |
| 3306 | Tube Investments of India Ltd. | 103010 |
| 6734 | TVS Motor Co., Ltd. | 266288 |
| 22222 | UltraTech Cement Ltd. | 2881495 |
| 51638 | Union Bank of India Ltd. | 88547 |
| 9159 | United Spirits Ltd. | 148715 |
| 156978 | UPL Ltd. | 1332461 |
| 37056 | Varun Beverages Ltd. | 199765 |
| 41844 | Vedanta Ltd. | 246467 |
| 64656 | Vishal Mega Mart Ltd.\* | 98349 |
| 683511 | Vodafone Idea Ltd.\* | 76164 |
| 7259 | Voltas Ltd. | 111787 |
| 2657 | WAAREE Energies Ltd. | 94789 |
| 71714 | Wipro Ltd. | 200669 |
| 394970 | Yes Bank Ltd.\* | 101440 |
| 7268 | Zydus Lifesciences Ltd. | 76463 |
|  | Total India | 105811759 |
|  **Indonesia - 1.5%** | **Indonesia - 1.5%** | **Indonesia - 1.5%** |
| 361200 | Amman Mineral Internasional PT\* | 143076 |
| 3469200 | Astra International Tbk PT | 1363670 |
| 2644042 | Bank Central Asia Tbk PT | 1319413 |
| 6154548 | Bank Mandiri Persero Tbk PT | 1787175 |
| 494700 | Bank Negara Indonesia Persero Tbk PT | 126726 |
| 8983492 | Bank Rakyat Indonesia Persero Tbk PT | 1985393 |
| 560447 | Barito Pacific Tbk PT\* | 120388 |
| 118000 | Barito Renewables Energy Tbk PT | 67803 |
| 266300 | Chandra Asri Pacific Tbk PT | 118286 |
| 243100 | Charoen Pokphand Indonesia Tbk PT | 67568 |
| 25000 | Dian Swastatika Sentosa Tbk PT\* | 164987 |
| 27884300 | GoTo Gojek Tokopedia Tbk PT, Class A Shares\* | 107117 |
| 162900 | Indofood Sukses Makmur Tbk PT | 71986 |
| 391500 | Petrindo Jaya Kreasi Tbk PT | 62957 |
| 564000 | Sumber Alfaria Trijaya Tbk PT | 60925 |
| 1378587 | Telkom Indonesia Persero Tbk PT | 291773 |
| 78356 | Telkom Indonesia Persero Tbk PT, ADR | 1688572 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Indonesia - 1.5% - (continued)** | **Indonesia - 1.5% - (continued)** | **Indonesia - 1.5% - (continued)** |
| 478300 | United Tractors Tbk PT | $804841 |
|  | Total Indonesia | 10352656 |
|  **Ireland - 0.5%** | **Ireland - 0.5%** | **Ireland - 0.5%** |
| 27076 | PDD Holdings Inc., ADR\* | 3142982 |
|  **Kazakhstan - 0.2%** | **Kazakhstan - 0.2%** | **Kazakhstan - 0.2%** |
| 15500 | Kaspi.KZ JSC, ADR\* | 1198305 |
|  **Kuwait - 0.3%** | **Kuwait - 0.3%** | **Kuwait - 0.3%** |
| 45974 | Boubyan Bank KSCP | 105945 |
| 51115 | Gulf Bank KSCP | 59339 |
| 315836 | Kuwait Finance House KSCP | 819522 |
| 31451 | Mabanee Co., KPSC | 110236 |
| 62567 | Mobile Telecommunications Co., KSCP | 106037 |
| 239292 | National Bank of Kuwait SAKP | 782903 |
|  | Total Kuwait | 1983982 |
|  **Luxembourg - 0.2%** | **Luxembourg - 0.2%** | **Luxembourg - 0.2%** |
| 7234 | Globant SA\* | 460300 |
| 4054 | Reinet Investments SCA | 137226 |
| 21284 | Ternium SA, ADR | 783890 |
| 8392 | Zabka Group SA\* | 53490 |
|  | Total Luxembourg | 1434906 |
|  **Malaysia - 0.5%** | **Malaysia - 0.5%** | **Malaysia - 0.5%** |
| 66500 | AMMB Holdings Bhd | 95752 |
| 59300 | Axiata Group Bhd | 34580 |
| 114300 | CELCOMDIGI BHD | 90650 |
| 224307 | CIMB Group Holdings Bhd | 415401 |
| 135700 | Gamuda Bhd | 175852 |
| 21400 | Hong Leong Bank Bhd | 109506 |
| 64800 | IHH Healthcare Bhd | 129598 |
| 87500 | IOI Corp. Bhd | 84480 |
| 16400 | Kuala Lumpur Kepong Bhd | 80155 |
| 168609 | Malayan Banking Bhd | 404304 |
| 57900 | Maxis Bhd | 55924 |
| 30600 | MISC Bhd | 55604 |
| 103300 | MR DIY Group M Bhd(a) | 37786 |
| 1900 | Nestle Malaysia Bhd | 49146 |
| 72100 | Petronas Chemicals Group Bhd | 52353 |
| 8600 | Petronas Dagangan Bhd | 41348 |
| 23900 | Petronas Gas Bhd | 101364 |
| 115400 | Press Metal Aluminium Holdings Bhd | 187355 |
| 401800 | Public Bank Bhd | 422905 |
| 47250 | QL Resources Bhd | 46355 |
| 55600 | RHB Bank Bhd | 93500 |
| 56800 | SD Guthrie Bhd | 71611 |
| 81500 | Sunway Bhd | 107473 |
| 31400 | Telekom Malaysia Bhd | 56372 |
| 71300 | Tenaga Nasional Bhd | 227438 |
| 99360 | YTL Corp. Bhd | 51287 |
| 73560 | YTL Power International Bhd | 58104 |
|  | Total Malaysia | 3336203 |
|  **Mexico - 2.5%** | **Mexico - 2.5%** | **Mexico - 2.5%** |
| 109459 | Alfa SAB de CV, Class A Shares | 86198 |
| 67295 | America Movil SAB de CV, ADR | 1553169 |
| 511212 | America Movil SAB de CV, Series B | 584598 |
| 13210 | Arca Continental SAB de CV | 134752 |
| 21500 | BBB Foods Inc., Class A Shares\* | 700470 |
| 14849 | Coca-Cola Femsa SAB de CV | 128766 |
| 94286 | Fibra Uno Administracion SA de CV, REIT | 136450 |
| 48694 | Fomento Economico Mexicano SAB de CV | 470656 |
| 4156 | Gruma SAB de CV, Class B Shares | 73552 |
| 7753 | Grupo Aeroportuario del Centro Norte SAB de CV, Class B Shares | 103767 |
| 6343 | Grupo Aeroportuario del Pacifico SAB de CV, ADR | 1506399 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Mexico - 2.5% - (continued)** | **Mexico - 2.5% - (continued)** | **Mexico - 2.5% - (continued)** |
| 10814 | Grupo Aeroportuario del Pacifico SAB de CV, Class B Shares | $265930 |
| 5233 | Grupo Aeroportuario del Sureste SAB de CV, Class B Shares | 157993 |
| 34834 | Grupo Bimbo SAB de CV, Series A | 110201 |
| 18121 | Grupo Carso SAB de CV, Series A1 | 124621 |
| 10056 | Grupo Comercial Chedraui SA de CV | 72199 |
| 488988 | Grupo Financiero Banorte SAB de CV, Class O Shares | 4659864 |
| 55152 | Grupo Financiero Inbursa SAB de CV, Class O Shares | 130114 |
| 176466 | Grupo México SAB de CV, Series B | 1540952 |
| 5676 | Industrias Peñoles SAB de CV\* | 238678 |
| 472552 | Kimberly-Clark de México SAB de CV, Class A Shares | 999486 |
| 28252 | Prologis Property Mexico SA de CV, REIT | 120051 |
| 5386 | Promotora y Operadora de Infraestructura SAB de CV | 74051 |
| 99000 | Regional SAB de CV | 736039 |
| 664124 | Wal-Mart de Mexico SAB de CV | 2240664 |
|  | Total Mexico | 16949620 |
|  **Netherlands - 0.3%** | **Netherlands - 0.3%** | **Netherlands - 0.3%** |
| 16911 | NEPI Rockcastle NV\* | 144826 |
| 27000 | Prosus NV\* | 1699223 |
|  | Total Netherlands | 1844049 |
|  **Peru - 0.3%** | **Peru - 0.3%** | **Peru - 0.3%** |
| 5612 | Cia de Minas Buenaventura SAA, ADR | 139065 |
| 7760 | Credicorp Ltd. | 1995950 |
|  | Total Peru | 2135015 |
|  **Philippines - 0.5%** | **Philippines - 0.5%** | **Philippines - 0.5%** |
| 7250 | Ayala Corp. | 58720 |
| 183660 | Ayala Land Inc. | 63767 |
| 62306 | Bank of the Philippine Islands | 123808 |
| 65490 | BDO Unibank Inc. | 146375 |
| 302320 | International Container Terminal Services Inc. | 2800875 |
| 14290 | Jollibee Foods Corp. | 46062 |
| 9080 | Manila Electric Co. | 91634 |
| 55726 | Metropolitan Bank & Trust Co. | 62725 |
| 2295 | PLDT Inc. | 50641 |
| 7820 | SM Investments Corp. | 98696 |
| 322400 | SM Prime Holdings Inc. | 126585 |
|  | Total Philippines | 3669888 |
|  **Poland - 1.4%** | **Poland - 1.4%** | **Poland - 1.4%** |
| 19525 | Allegro.eu SA\*(a) | 171370 |
| 18675 | Bank Millennium SA\* | 79797 |
| 5322 | Bank Polska Kasa Opieki SA | 291346 |
| 324 | Budimex SA | 55497 |
| 1660 | CCC SA\* | 61408 |
| 1691 | CD Projekt SA | 118718 |
| 8900 | Diagnostyka SA | 415711 |
| 138495 | Dino Polska SA\*(a) | 1548290 |
| 161431 | InPost SA\* | 1889925 |
| 3953 | KGHM Polska Miedz SA\* | 229441 |
| 37 | LPP SA | 172372 |
| 385 | mBank SA\* | 108017 |
| 16818 | ORLEN SA | 432947 |
| 23212 | PGE Polska Grupa Energetyczna SA\* | 62743 |
| 155738 | Powszechna Kasa Oszczednosci Bank Polski SA | 3300236 |
| 17818 | Powszechny Zaklad Ubezpieczen SA | 306670 |
| 1063 | Santander Bank Polska SA | 149885 |
|  | Total Poland | 9394373 |
|  **Qatar - 0.3%** | **Qatar - 0.3%** | **Qatar - 0.3%** |
| 185855 | Al Rayan Bank | 111317 |
| 58133 | Barwa Real Estate Co. | 40977 |
| 109122 | Commercial Bank PSQC (The) | 120644 |
| 50646 | Dukhan Bank | 48372 |
| 44158 | Industries Qatar QSC | 147194 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Qatar - 0.3% - (continued)** | **Qatar - 0.3% - (continued)** | **Qatar - 0.3% - (continued)** |
| 113710 | Mesaieed Petrochemical Holding Co. | $36634 |
| 27407 | Ooredoo QPSC | 96141 |
| 14392 | Qatar Electricity & Water Co. QSC | 58534 |
| 16292 | Qatar Fuel QSC | 66915 |
| 82215 | Qatar Gas Transport Co., Ltd. | 101923 |
| 35539 | Qatar International Islamic Bank QSC | 107770 |
| 54564 | Qatar Islamic Bank QPSC | 348150 |
| 129949 | Qatar National Bank QPSC | 645354 |
|  | Total Qatar | 1929925 |
|  **Russia - 0.0%@** | **Russia - 0.0%@** | **Russia - 0.0%@** |
| 64081 | Alrosa PJSC\*(d)# | 641 |
| 24130 | Mobile TeleSystems PJSC\*(d)# | 241 |
| 135663 | Mobile TeleSystems PJSC, ADR\*(d)# | 1357 |
| 39065 | Moscow Exchange MICEX-RTS PJSC\*(d)# | 391 |
| 1593 | Ozon Holdings PLC, ADR\*(d)# |  |
| 19 | PhosAgro PJSC, Class Registered Shares, GDR\*(d)# |  |
| 8690 | Polyus PJSC\*(d)# | 87 |
| 28885 | Rosneft Oil Co. PJSC\*(d)# | 289 |
| 891342 | Sberbank of Russia PJSC, (Cost - $1,699,436, acquired 8/10/15)\*(d)(f)# | 8913 |
| 5523 | Severstal PAO\*(d)# | 55 |
| 2925 | T-Tekhnologii MKPAO, Class Registered Shares, GDR\*(d)# |  |
| 88972 | United Co. RUSAL International PJSC\*(d)# | 12 |
| 2330 | VK IPJSC, GDR\*(d)# |  |
| 12017 | VTB Bank PJSC\*(d)# | 2 |
| 3377 | X5 Retail Group NV, Class Registered Shares, GDR\*(d)# | 1 |
|  | Total Russia | 11989 |
|  **Saudi Arabia - 2.5%** | **Saudi Arabia - 2.5%** | **Saudi Arabia - 2.5%** |
| 4812 | ACWA Power Co.\* | 245034 |
| 8788 | Ades Holding Co. | 39852 |
| 203872 | Al Rajhi Bank | 5209664 |
| 35531 | Alinma Bank | 229445 |
| 13030 | Almarai Co. JSC | 155285 |
| 29885 | Arab National Bank | 176916 |
| 773 | Arabian Internet & Communications Services Co. | 46327 |
| 21510 | Bank AlBilad | 150268 |
| 18653 | Bank Al-Jazira\* | 57566 |
| 36408 | Banque Saudi Fransi | 159775 |
| 2413 | Bupa Arabia for Cooperative Insurance Co. | 94631 |
| 2530 | Co. for Cooperative Insurance (The) | 81423 |
| 891 | Dallah Healthcare Co. | 30887 |
| 15526 | Dar Al Arkan Real Estate Development Co.\* | 64911 |
| 35894 | Dr Sulaiman Al Habib Medical Services Group Co. | 2315964 |
| 700 | Elm Co. | 142962 |
| 107856 | Etihad Etisalat Co. | 1808683 |
| 17803 | Jabal Omar Development Co.\* | 72180 |
| 15972 | Jarir Marketing Co. | 54122 |
| 3017 | Makkah Construction & Development Co. | 67406 |
| 3443 | Mouwasat Medical Services Co. | 63698 |
| 39712 | Riyad Bank | 273694 |
| 6876 | SABIC Agri-Nutrients Co. | 213638 |
| 8982 | Sahara International Petrochemical Co. | 40234 |
| 1358 | SAL Saudi Logistics Services | 61496 |
| 38457 | Saudi Arabian Mining Co.\* | 625430 |
| 171321 | Saudi Arabian Oil Co.(a) | 1124965 |
| 29646 | Saudi Awwal Bank | 242229 |
| 24598 | Saudi Basic Industries Corp. | 361858 |
| 25347 | Saudi Electricity Co. | 95365 |
| 18780 | Saudi Investment Bank (The) | 64890 |
| 144964 | Saudi National Bank (The) | 1427031 |
| 874 | Saudi Research & Media Group\* | 33205 |
| 1501 | Saudi Tadawul Group Holding Co. | 67410 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Saudi Arabia - 2.5% - (continued)** | **Saudi Arabia - 2.5% - (continued)** | **Saudi Arabia - 2.5% - (continued)** |
| 54513 | Saudi Telecom Co. | $619988 |
| 31500 | United International Transportation Co. | 556642 |
| 8700 | Yanbu National Petrochemical Co. | 70651 |
|  | Total Saudi Arabia | 17145725 |
|  **Singapore - 1.2%** | **Singapore - 1.2%** | **Singapore - 1.2%** |
| 84300 | ASMPT Ltd. | 813518 |
| 8100 | BOC Aviation Ltd.(a) | 73706 |
| 155000 | Grab Holdings Ltd., Class A Shares\* | 844750 |
| 7500 | Sea Ltd., ADR\* | 1042575 |
| 17514 | Trip.com Group Ltd. | 1220723 |
| 56629 | Trip.com Group Ltd., ADR | 3959500 |
|  | Total Singapore | 7954772 |
|  **South Africa - 3.2%** | **South Africa - 3.2%** | **South Africa - 3.2%** |
| 23983 | Absa Group Ltd. | 292411 |
| 9271 | Bid Corp., Ltd. | 221373 |
| 93690 | Bidvest Group Ltd. | 1251769 |
| 20366 | Capitec Bank Holdings Ltd. | 4618504 |
| 87332 | Clicks Group Ltd. | 1772754 |
| 15199 | Discovery Ltd. | 194999 |
| 144950 | FirstRand Ltd. | 690374 |
| 25444 | Gold Fields Ltd. | 1082664 |
| 15624 | Harmony Gold Mining Co., Ltd. | 307744 |
| 25704 | Impala Platinum Holdings Ltd. | 322740 |
| 11140 | Kumba Iron Ore Ltd. | 217760 |
| 948240 | Life Healthcare Group Holdings Ltd. | 598416 |
| 49274 | MTN Group Ltd. | 455551 |
| 22190 | Naspers Ltd., Class N Shares | 1391940 |
| 104217 | Nedbank Group Ltd. | 1557698 |
| 4761 | Northam Platinum Holdings Ltd. | 85130 |
| 229000 | Optasia Group\*(c) | 257236 |
| 23929 | OUTsurance Group Ltd. | 101320 |
| 74307 | Pepkor Holdings Ltd.(a) | 113387 |
| 14491 | Remgro Ltd. | 147267 |
| 287056 | Sanlam Ltd. | 1539353 |
| 17899 | Sasol Ltd.\* | 116326 |
| 15414 | Shoprite Holdings Ltd. | 247155 |
| 77870 | Sibanye Stillwater Ltd.\* | 258560 |
| 134947 | Standard Bank Group Ltd. | 2074263 |
| 7543 | Valterra Platinum Ltd. | 524182 |
| 179957 | Vodacom Group Ltd. | 1410497 |
|  | Total South Africa | 21851373 |
|  **South Korea - 11.7%** | **South Korea - 11.7%** | **South Korea - 11.7%** |
| 1135 | Alteogen Inc.\* | 412814 |
| 963 | Amorepacific Corp. | 81566 |
| 281 | APR Corp.\* | 49026 |
| 4234 | Celltrion Inc. | 535983 |
| 8657 | Coway Co., Ltd. | 507227 |
| 1381 | DB Insurance Co., Ltd. | 117301 |
| 1292 | Doosan Bobcat Inc. | 48674 |
| 229 | Doosan Co., Ltd. | 137264 |
| 12697 | Doosan Enerbility Co., Ltd.\* | 663050 |
| 1334 | Ecopro BM Co., Ltd.\* | 136655 |
| 2991 | Ecopro Co., Ltd. | 172764 |
| 8023 | Hana Financial Group Inc. | 510496 |
| 699 | Hanjin Kal Corp. | 48767 |
| 1886 | Hankook Tire & Technology Co., Ltd. | 79111 |
| 1217 | Hanmi Semiconductor Co., Ltd. | 102804 |
| 934 | Hanwha Aerospace Co., Ltd. | 542799 |
| 3474 | Hanwha Ocean Co., Ltd.\* | 255438 |
| 2327 | Hanwha Systems Co., Ltd. | 73315 |
| 1141 | HD Hyundai Co., Ltd. | 153353 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **South Korea - 11.7% - (continued)** | **South Korea - 11.7% - (continued)** | **South Korea - 11.7% - (continued)** |
| 7877 | HD Hyundai Electric Co., Ltd. | $4156839 |
| 669 | HD Hyundai Heavy Industries Co., Ltd. | 244194 |
| 1254 | HD Korea Shipbuilding & Offshore Engineering Co., Ltd. | 350169 |
| 3423 | HLB Inc.\* | 109507 |
| 5921 | HMM Co., Ltd. | 77375 |
| 734 | HYBE Co., Ltd.\* | 149939 |
| 172 | Hyosung Heavy Industries Corp. | 223536 |
| 1125 | Hyundai Glovis Co., Ltd. | 126118 |
| 5671 | Hyundai Mobis Co., Ltd. | 1195389 |
| 3812 | Hyundai Motor Co. | 680804 |
| 2166 | Hyundai Rotem Co., Ltd. | 259787 |
| 7508 | Industrial Bank of Korea | 105182 |
| 8774 | Kakao Corp. | 351364 |
| 5216 | KakaoBank Corp. | 77034 |
| 31060 | KB Financial Group Inc. | 2644605 |
| 22376 | Kia Corp. | 1742395 |
| 1926 | Korea Aerospace Industries Ltd. | 143137 |
| 7152 | Korea Electric Power Corp. | 256333 |
| 1350 | Korea Investment Holdings Co., Ltd. | 148026 |
| 113 | Korea Zinc Co., Ltd. | 103343 |
| 4622 | Korean Air Lines Co., Ltd. | 68848 |
| 897 | Krafton Inc.\* | 157615 |
| 25138 | KT Corp. | 863433 |
| 10353 | KT&G Corp. | 1026344 |
| 1384 | LG Chem Ltd. | 353266 |
| 2541 | LG Corp. | 136570 |
| 7553 | LG Display Co., Ltd.\* | 64507 |
| 2841 | LG Electronics Inc. | 166081 |
| 1318 | LG Energy Solution Ltd.\* | 368384 |
| 326 | LG H&H Co., Ltd. | 61530 |
| 5863 | LG Uplus Corp. | 60112 |
| 407 | LIG Nex1 Co., Ltd. | 106460 |
| 400 | LS Electric Co., Ltd. | 125926 |
| 2319 | Meritz Financial Group Inc. | 171659 |
| 5822 | Mirae Asset Securities Co., Ltd. | 86950 |
| 4040 | NAVER Corp. | 672589 |
| 5554 | NH Investment & Securities Co., Ltd. | 78358 |
| 929 | POSCO Future M Co., Ltd.\* | 131087 |
| 2044 | POSCO Holdings Inc. | 432006 |
| 1118 | Posco International Corp. | 40827 |
| 1041 | Samsung Biologics Co., Ltd.\*(a)(c) | 1142001 |
| 2522 | Samsung C&T Corp. | 387724 |
| 1588 | Samsung Electro-Mechanics Co., Ltd. | 272190 |
| 318513 | Samsung Electronics Co., Ltd. | 21797968 |
| 854 | Samsung Fire & Marine Insurance Co., Ltd. | 280323 |
| 19828 | Samsung Heavy Industries Co., Ltd.\* | 332884 |
| 2330 | Samsung Life Insurance Co., Ltd. | 243230 |
| 1875 | Samsung SDI Co., Ltd. | 383826 |
| 1283 | Samsung SDS Co., Ltd. | 147726 |
| 128 | Samyang Foods Co., Ltd. | 126017 |
| 126614 | Shinhan Financial Group Co., Ltd. | 6752446 |
| 946 | SK Biopharmaceuticals Co., Ltd.\* | 90277 |
| 64424 | SK hynix Inc. | 23246205 |
| 1081 | SK Inc. | 196147 |
| 2022 | SK Innovation Co., Ltd. | 158740 |
| 2631 | SK Square Co., Ltd.\* | 537613 |
| 1109 | SK Telecom Co., Ltd. | 40440 |
| 1576 | S-Oil Corp.\* | 82541 |
| 18788 | Woori Financial Group Inc. | 340152 |
| 1615 | Yuhan Corp. | 134036 |
|  | Total South Korea | 79638521 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Taiwan - 18.3%** | **Taiwan - 18.3%** | **Taiwan - 18.3%** |
| 14000 | Accton Technology Corp. | $457240 |
| 12753 | Advantech Co., Ltd. | 117440 |
| 4139 | Airtac International Group | 119083 |
| 2000 | Alchip Technologies Ltd. | 210592 |
| 464498 | ASE Technology Holding Co., Ltd. | 3399523 |
| 78000 | Asia Cement Corp. | 96461 |
| 9000 | Asia Vital Components Co., Ltd. | 394205 |
| 1000 | ASPEED Technology Inc. | 234602 |
| 20000 | Asustek Computer Inc. | 384265 |
| 4000 | Bizlink Holding Inc. | 205909 |
| 31000 | Caliway Biopharmaceuticals Co., Ltd.\* | 155469 |
| 15000 | Catcher Technology Co., Ltd. | 96254 |
| 270550 | Cathay Financial Holding Co., Ltd. | 553884 |
| 47988 | Chailease Holding Co., Ltd. | 157493 |
| 183361 | Chang Hwa Commercial Bank Ltd. | 118060 |
| 49000 | Cheng Shin Rubber Industry Co., Ltd. | 49695 |
| 71000 | China Airlines Ltd. | 43437 |
| 372000 | China Steel Corp. | 216354 |
| 103000 | Chroma ATE Inc. | 2694954 |
| 105000 | Chunghwa Telecom Co., Ltd. | 436596 |
| 117000 | Compal Electronics Inc. | 109410 |
| 470880 | CTBC Financial Holding Co., Ltd. | 652186 |
| 197556 | Delta Electronics Inc. | 5867849 |
| 24000 | E Ink Holdings Inc. | 147003 |
| 407228 | E.Sun Financial Holding Co., Ltd.(c) | 393764 |
| 6100 | Eclat Textile Co., Ltd. | 85345 |
| 8000 | Elite Material Co., Ltd. | 388891 |
| 2000 | eMemory Technology Inc. | 130387 |
| 80000 | Eva Airways Corp. | 86954 |
| 29791 | Evergreen Marine Corp. Taiwan Ltd. | 170391 |
| 89000 | Far Eastern New Century Corp. | 80010 |
| 53000 | Far EasTone Telecommunications Co., Ltd. | 148861 |
| 12230 | Feng TAY Enterprise Co., Ltd. | 50352 |
| 319674 | First Financial Holding Co., Ltd. | 281328 |
| 116000 | Formosa Chemicals & Fibre Corp. | 123897 |
| 105000 | Formosa Plastics Corp. | 139729 |
| 3830 | Fortune Electric Co., Ltd. | 85417 |
| 239100 | Fubon Financial Holding Co., Ltd. | 706845 |
| 15000 | Gigabyte Technology Co., Ltd. | 116840 |
| 2000 | Global Unichip Corp. | 143993 |
| 84000 | Globalwafers Co., Ltd. | 1006175 |
| 6000 | Gold Circuit Electronics Ltd. | 120820 |
| 354480 | Hon Hai Precision Industry Co., Ltd. | 2546514 |
| 9140 | Hotai Motor Co., Ltd. | 177882 |
| 249872 | Hua Nan Financial Holdings Co., Ltd. | 234462 |
| 196164 | Innolux Corp. | 84781 |
| 6000 | International Games System Co., Ltd. | 142264 |
| 72000 | Inventec Corp. | 100184 |
| 2000 | Jentech Precision Industrial Co., Ltd. | 186752 |
| 497033 | KGI Financial Holding Co., Ltd. | 249882 |
| 2000 | King Slide Works Co., Ltd. | 243115 |
| 50000 | King Yuan Electronics Co., Ltd. | 364376 |
| 2541 | Largan Precision Co., Ltd. | 178767 |
| 59264 | Lite-On Technology Corp., ADR | 301397 |
| 2000 | Lotes Co., Ltd. | 83687 |
| 143560 | MediaTek Inc. | 6388952 |
| 332889 | Mega Financial Holding Co., Ltd. | 425445 |
| 145000 | Nan Ya Plastics Corp. | 274103 |
| 5000 | Nien Made Enterprise Co., Ltd. | 59371 |
| 83000 | Novatek Microelectronics Corp. | 1032488 |
| 59000 | Pegatron Corp. | 135451 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Taiwan - 18.3% - (continued)** | **Taiwan - 18.3% - (continued)** | **Taiwan - 18.3% - (continued)** |
| 7768 | PharmaEssentia Corp. | $127714 |
| 15539 | President Chain Store Corp. | 118596 |
| 479223 | Quanta Computer Inc. | 4305612 |
| 15000 | Realtek Semiconductor Corp. | 249010 |
| 114598 | Shanghai Commercial & Savings Bank Ltd. (The) | 142884 |
| 333538 | SinoPac Financial Holdings Co., Ltd. | 286578 |
| 242560 | Taiwan Business Bank | 122504 |
| 298274 | Taiwan Cooperative Financial Holding Co., Ltd. | 226697 |
| 56000 | Taiwan High Speed Rail Corp. | 49893 |
| 45000 | Taiwan Mobile Co., Ltd. | 154912 |
| 1512705 | Taiwan Semiconductor Manufacturing Co., Ltd. | 69543438 |
| 27850 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 8118553 |
| 194668 | TCC Group Holdings Co., Ltd. | 141962 |
| 592455 | TS Financial Holding Co., Ltd. | 340982 |
| 37000 | Unimicron Technology Corp. | 220694 |
| 136000 | Uni-President Enterprises Corp. | 331487 |
| 323000 | United Microelectronics Corp. | 471366 |
| 32013 | Vanguard International Semiconductor Corp. | 92621 |
| 19630 | Wan Hai Lines Ltd. | 50415 |
| 85000 | Wistron Corp. | 392307 |
| 22300 | Wiwynn Corp. | 3245240 |
| 205428 | Yageo Corp. | 1541733 |
| 48000 | Yang Ming Marine Transport Corp. | 79678 |
| 319292 | Yuanta Financial Holding Co., Ltd. | 367559 |
| 16000 | Zhen Ding Technology Holding Ltd. | 74356 |
|  | Total Taiwan | 125184627 |
|  **Thailand - 0.6%** | **Thailand - 0.6%** | **Thailand - 0.6%** |
| 30000 | Advanced Info Service PCL, NVDR | 287040 |
| 116300 | Airports of Thailand PCL, NVDR | 157840 |
| 296400 | Bangkok Dusit Medical Services PCL, NVDR | 175326 |
| 15000 | Bumrungrad Hospital PCL, NVDR | 79146 |
| 60900 | Central Pattana PCL, NVDR | 101717 |
| 118200 | Charoen Pokphand Foods PCL, NVDR | 74749 |
| 153400 | CP ALL PCL, NVDR | 206803 |
| 46716 | CP AXTRA PCL, NVDR | 23517 |
| 88400 | Delta Electronics Thailand PCL, NVDR | 556069 |
| 129100 | Gulf Development PCL, NVDR\* | 164185 |
| 168200 | Kasikornbank PCL | 976780 |
| 16600 | Kasikornbank PCL, NVDR | 96471 |
| 101800 | Krung Thai Bank PCL, NVDR | 87309 |
| 91300 | Minor International PCL, NVDR | 62647 |
| 165700 | PTT Exploration & Production PCL | 549496 |
| 40800 | PTT Exploration & Production PCL, NVDR | 135511 |
| 293400 | PTT PCL, NVDR | 280884 |
| 23500 | SCB X PCL, NVDR | 95231 |
| 23000 | Siam Cement PCL (The), NVDR | 133762 |
| 643500 | TMBThanachart Bank PCL, NVDR | 38712 |
| 272121 | True Corp. PCL, NVDR | 91605 |
|  | Total Thailand | 4374800 |
|  **Turkey - 0.5%** | **Turkey - 0.5%** | **Turkey - 0.5%** |
| 96369 | Akbank TAS | 147549 |
| 39612 | Aselsan Elektronik Sanayi Ve Ticaret AS | 171607 |
| 89752 | BIM Birlesik Magazalar AS | 1138698 |
| 69832 | Eregli Demir ve Celik Fabrikalari TAS | 39368 |
| 17990 | Ford Otomotiv Sanayi AS | 40174 |
| 25546 | Haci Ömer Sabanci Holding AS | 49467 |
| 19638 | KOC Holding AS | 78216 |
| 145000 | MLP Saglik Hizmetleri AS, Class B Shares\*(a) | 1128494 |
| 13822 | Turk Hava Yollari AO | 89001 |
| 31232 | Turkcell Iletisim Hizmetleri AS | 69017 |
| 204992 | Turkiye Is Bankasi AS, Class C Shares | 65832 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Security** | **Value** |
|  **Turkey - 0.5% - (continued)** | **Turkey - 0.5% - (continued)** | **Turkey - 0.5% - (continued)** |
| 26836 | Turkiye Petrol Rafinerileri AS | $123462 |
| 81036 | Yapi ve Kredi Bankasi AS\* | 67695 |
|  | Total Turkey | 3208580 |
|  **United Arab Emirates - 0.8%** | **United Arab Emirates - 0.8%** | **United Arab Emirates - 0.8%** |
| 208642 | Abu Dhabi Commercial Bank PJSC | 800851 |
| 41226 | Abu Dhabi Islamic Bank PJSC | 223341 |
| 95958 | Abu Dhabi National Oil Co. for Distribution PJSC | 100578 |
| 274553 | ADNOC Drilling Co. PJSC | 390909 |
| 159913 | Adnoc Gas PLC | 141929 |
| 109785 | Aldar Properties PJSC | 243574 |
| 80135 | Americana Restaurants International PLC - Foreign Co. | 37742 |
| 147444 | Dubai Electricity & Water Authority PJSC | 109562 |
| 87314 | Dubai Islamic Bank PJSC | 218075 |
| 28338 | Emaar Development PJSC | 113414 |
| 382293 | Emaar Properties PJSC | 1384048 |
| 53718 | Emirates NBD Bank PJSC | 356939 |
| 96953 | Emirates Telecommunications Group Co. PJSC | 475199 |
| 124494 | First Abu Dhabi Bank PJSC | 536935 |
| 57729 | Salik Co. PJSC | 90208 |
| 2112000 | Talabat Holding PLC | 533517 |
| 114981 | Two Point Zero Group PJSC\* | 80243 |
|  | Total United Arab Emirates | 5837064 |
|  **United Kingdom - 0.7%** | **United Kingdom - 0.7%** | **United Kingdom - 0.7%** |
| 14346 | Anglogold Ashanti PLC | 1219253 |
| 500000 | Helios Towers PLC\* | 1056145 |
| 12500 | Lion Finance Group PLC | 1483534 |
| 15725 | Unilever PLC | 948542 |
|  | Total United Kingdom | 4707474 |
|  **United States - 0.5%** | **United States - 0.5%** | **United States - 0.5%** |
| 24562 | BeOne Medicines Ltd., Class H Shares\* | 643721 |
| 7289 | EPAM Systems Inc.\* | 1363043 |
| 2342 | Legend Biotech Corp., ADR\* | 64897 |
| 34213 | SLB Ltd. | 1239879 |
| 3036 | Southern Copper Corp. | 409192 |
|  | Total United States | 3720732 |
|  **Uruguay - 0.6%** | **Uruguay - 0.6%** | **Uruguay - 0.6%** |
| 80299 | Arcos Dorados Holdings Inc., Class A Shares | 609469 |
| 1536 | MercadoLibre Inc.\* | 3182254 |
|  | Total Uruguay | 3791723 |
|  | **TOTAL COMMON STOCKS** |  |
|  | (Cost - $433,542,733) | **664705258** |
|  **PREFERRED STOCKS - 1.3%** | **PREFERRED STOCKS - 1.3%** | **PREFERRED STOCKS - 1.3%** |
|  **Brazil - 0.6%** | **Brazil - 0.6%** | **Brazil - 0.6%** |
| 150686 | Banco Bradesco SA, Class Preferred Shares | 554880 |
| 48798 | Cia Energetica de Minas Gerais, Class Preferred Shares | 105163 |
| 36434 | Gerdau SA, Class Preferred Shares | 129998 |
| 295772 | Itau Unibanco Holding SA, Class Preferred Shares | 2307978 |
| 156399 | Itausa SA, Class Preferred Shares | 361377 |
| 129205 | Petroleo Brasileiro SA - Petrobras, Class Preferred Shares | 769722 |
| 24800 | Telefonica Brasil SA, Class Preferred Shares | 164660 |
|  | Total Brazil | 4393778 |
|  **Chile - 0.0%@** | **Chile - 0.0%@** | **Chile - 0.0%@** |
| 4284 | Sociedad Quimica y Minera de Chile SA, Class Preferred B Shares\* | 276983 |
|  **Colombia - 0.0%@** | **Colombia - 0.0%@** | **Colombia - 0.0%@** |
| 13920 | Grupo Cibest SA | 218642 |
|  **India - 0.0%@** | **India - 0.0%@** | **India - 0.0%@** |
| 29960 | TVS Motor Co., Ltd.\*(c) | 3353 |
|  **Mexico - 0.1%** | **Mexico - 0.1%** | **Mexico - 0.1%** |
| 428229 | Cemex SAB de CV, Class Preferred Shares | 453688 |
|  **South Korea - 0.6%** | **South Korea - 0.6%** | **South Korea - 0.6%** |
| 943 | Hyundai Motor Co., Class Preferred 2nd Shares | 125245 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Shares/Units** | | **Security** | **Value** |
| **South Korea - 0.6% - (continued)** | **South Korea - 0.6% - (continued)** | **South Korea - 0.6% - (continued)** | **South Korea - 0.6% - (continued)** |
| 802 |  | Hyundai Motor Co., Class Preferred Shares | $105312 |
| 74034 |  | Samsung Electronics Co., Ltd., Class Preferred Shares | 3793500 |
|  |  | Total South Korea | 4024057 |
|  |  | **TOTAL PREFERRED STOCKS** |  |
|  |  | (Cost - $6,534,702) | **9370501** |
|  |  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS** |  |
|  |  | (Cost - $440,077,435) | **674075759** |
| **Face<br>Amount†** |  |  |  |
| **SHORT-TERM INVESTMENTS (g) - 2.0%** | **SHORT-TERM INVESTMENTS (g) - 2.0%** | **SHORT-TERM INVESTMENTS (g) - 2.0%** | **SHORT-TERM INVESTMENTS (g) - 2.0%** |
| **MONEY MARKET FUND - 0.3%** | **MONEY MARKET FUND - 0.3%** | **MONEY MARKET FUND - 0.3%** | **MONEY MARKET FUND - 0.3%** |
| $1614600 |  | Invesco STIT - Government & Agency Portfolio, Institutional Class, 4.027%(h) |  |
|  |  | (Cost - $1,614,600) | **1614600** |
| **TIME DEPOSITS - 1.7%** | **TIME DEPOSITS - 1.7%** | **TIME DEPOSITS - 1.7%** | **TIME DEPOSITS - 1.7%** |
| 4741994 |  | ANZ National Bank - London, 3.220% due 12/1/25 | 4741994 |
| 14963 | <sup>ZAR</sup> | BBH - New York, 4.580% due 12/1/25 | 875 |
| 364902 |  | Canadian Imperial Bank of Commerce - Toronto, 3.220% due 12/1/25 | 364902 |
| 4831 | <sup>EUR</sup> | Citibank - London, 0.880% due 12/1/25 | 5602 |
| 1465521 |  | Citibank - New York, 3.220% due 12/1/25 | 1465521 |
| 55894 | <sup>HKD</sup> | HSBC Bank - Hong Kong, 0.980% due 12/1/25 | 7179 |
| 4141134 |  | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25 | 4141134 |
|  |  | Skandinaviska Enskilda Banken AB - Stockholm: |  |
| 28 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.880% due 12/1/25 | 33 |
| 229 | <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2.910% due 12/1/25 | 303 |
| 1078307 |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.220% due 12/1/25 | 1078307 |
| 602814 | <sup>ZAR</sup> | Standard Chartered Bank - Johannesburg, 4.580% due 12/1/25 | 35231 |
|  |  | **TOTAL TIME DEPOSITS** |  |
|  |  | (Cost - $11,841,081) | **11841081** |
|  |  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  |  | (Cost - $13,455,681) | **13455681** |
|  |  | **TOTAL INVESTMENTS - 100.6%** |  |
|  |  | (Cost - $453,533,116) | **687531440** |
|  |  | Liabilities in Excess of Other Assets - (0.6)% | (4197560) |
|  |  | **TOTAL NET ASSETS - 100.0%** | $**683333880** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

\* Non-income producing security.

---

| | |
|:---|:---|
| @ | The amount is less than 0.05%.  |

---

(a) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30, 2025,
amounts to $22,857,424 and represents 3.3% of net assets.

(b) Security trades on the Hong Kong exchange.

(c) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

(d) Illiquid security.

(e) All or a portion of this security is on loan (See Note 1).

(f) The aggregate value of restricted securities (excluding 144A holdings) at November 30, 2025, amounts to $8,913
and represents less than 0.0% of net assets.

(g) Inclusive of all short-term holdings, including investments of collateral received from securities lending
transactions. Excluding such collateral, the percentage of portfolio holdings would be 1.7%.

(h) Represents investments of collateral received from securities lending transactions.

# Security that used significant unobservable inputs to determine fair value. At November 30, 2025, the Fund held Level 3 securities with a value of $11,989, representing less than 0.05% of net assets. 

At November 30, 2025, for Emerging Markets Equity Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net<br>Unrealized<br>Appreciation** |
|  Emerging Markets Equity Fund | $453533116 | $271250628 | $(37262520) | $233988108 |

---

**<u>Abbreviations used in this schedule:</u>**

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NVDR | Non Voting Depository Receipt |
| PCL | Public Company Limited |
| PJSC | Private Joint Stock Company |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Security Sector^** | | |
|  Information Technology |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | 17.0 | % |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | 5.9 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | 2.4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | 1.9 |  |
|  Financials |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks | 18.5 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance | 2.7 |  |
|  Financial Services | 0.8 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | 1.1 |  |
|  Consumer Discretionary | 12.6 |  |
|  Communication Services | 9.1 |  |
|  Industrials | 8.0 |  |
|  Materials | 4.4 |  |
|  Consumer Staples | 4.1 |  |
|  Energy | 3.7 |  |
|  Health Care | 3.4 |  |
|  Real Estate | 1.4 |  |
|  Utilities | 1.3 |  |
|  Short-Term Investments | 1.7 |  |
|  Total Investments | 100.0 | %+ |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

+ Does not reflect investments of collateral received from securities lending transactions.

------

**Schedules of Investments** 

(unaudited) (continued)

**Emerging Markets Equity Fund** 

At November 30, 2025, Emerging Markets Equity Fund had open exchange-traded futures contracts as described below.

The unrealized depreciation on the open contracts was as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of<br>Contracts** | **Expiration<br>Date<br>(Month/Year)** | **Notional<br>Amount** | **Value** | **Unrealized<br>Depreciation** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; E-mini MSCI Emerging Markets Index Futures | 12 | 12/25 | $836776 | $826560 | $(10216) |

---

At November 30, 2025, Emerging Markets Equity Fund had deposited cash of $25,000 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

**<u>Currency abbreviations used in this schedule:</u>**

---

| | |
|:---|:---|
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| ZAR | South African Rand |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5%** | **CORPORATE BONDS & NOTES - 30.5%** | **CORPORATE BONDS & NOTES - 30.5%** |  |
| **Advertising - 0.0%@** | **Advertising - 0.0%@** | **Advertising - 0.0%@** |  |
| $215000 | B | Clear Channel Outdoor Holdings Inc., Senior Secured Notes, 7.125% due 2/15/31(a) | $223949 |
|  |  | Lamar Media Corp., Company Guaranteed Notes: |  |
| 175000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 2/15/30 | 169463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 11/1/33(a) | 20047 |
|  |  | Outfront Media Capital LLC/Outfront Media Capital Corp.: |  |
| 10000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 7.375% due 2/15/31(a) | 10606 |
| 125000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 4.250% due 1/15/29(a) | 121547 |
| 135000 | BB- | Stagwell Global LLC, Company Guaranteed Notes, 5.625% due 8/15/29(a) | 131300 |
|  |  | Total Advertising | 676912 |
| **Aerospace/Defense - 0.3%** | **Aerospace/Defense - 0.3%** | **Aerospace/Defense - 0.3%** |  |
| 150000 | BB | ATI Inc., Senior Unsecured Notes, 5.875% due 12/1/27 | 150351 |
|  |  | Boeing Co. (The), Senior Unsecured Notes: |  |
| 100000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 5/1/30 | 103101 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 2/1/31 | 48093 |
| 100000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 5/1/34 | 91318 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.528% due 5/1/34 | 55624 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 3/1/39 | 20692 |
| 630000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.805% due 5/1/50 | 627972 |
| 100000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 8/1/59 | 72225 |
| 101000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.930% due 5/1/60 | 100390 |
| 175000 | BB- | Bombardier Inc., Senior Unsecured Notes, 6.000% due 2/15/28(a) | 175667 |
|  |  | General Dynamics Corp., Company Guaranteed Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.850% due 6/1/41 | 19060 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 4/1/50 | 21742 |
| 50000 | A- | General Electric Co., Senior Unsecured Notes, 5.875% due 1/14/38 | 55013 |
|  |  | L3Harris Technologies Inc., Senior Unsecured Notes: |  |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 12/15/26 | 49922 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 1/15/27 | 101516 |
| 261000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 6/15/28 | 263104 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 7/31/53 | 50537 |
|  |  | Lockheed Martin Corp., Senior Unsecured Notes: |  |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.070% due 12/15/42 | 43434 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 3/1/45 | 40958 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 5/15/46 | 46065 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 6/15/50 | 16266 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.090% due 9/15/52 | 40705 |
| 24000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 6/15/53 | 19659 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 11/15/54 | 25803 |
|  |  | Northrop Grumman Corp., Senior Unsecured Notes: |  |
| 600000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 1/15/28 | 591440 |
| 334000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 3/15/33 | 339480 |
| 64000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 6/1/43 | 59720 |
| 51000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.030% due 10/15/47 | 41863 |
| 280000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 5/1/50 | 270133 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Aerospace/Defense - 0.3% - (continued)** | **Aerospace/Defense - 0.3% - (continued)** | **Aerospace/Defense - 0.3% - (continued)** |  |
|  |  | RTX Corp., Senior Unsecured Notes: |  |
| $150000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 3/15/27 | $149181 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 11/16/28 | 100347 |
| 140000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 1/15/29 | 147015 |
| 116000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 3/15/32 | 103712 |
| 164000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.100% due 3/15/34 | 181033 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 7/15/38 | 27735 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 11/16/38 | 23828 |
| 430000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 6/1/42 | 392720 |
| 76000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 11/1/46 | 59919 |
| 177000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.820% due 9/1/51 | 113324 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 2/27/53 | 98067 |
| 340000 | B- | Spirit AeroSystems Inc., Secured Notes, 9.750% due 11/15/30(a) | 372933 |
|  |  | TransDigm Inc., Senior Secured Notes: |  |
| 265000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125% due 12/1/31(a) | 278156 |
| 10000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 3/1/32(a) | 10406 |
|  |  | Total Aerospace/Defense | 5600229 |
| **Agriculture - 0.6%** | **Agriculture - 0.6%** | **Agriculture - 0.6%** |  |
|  |  | Altria Group Inc., Company Guaranteed Notes: |  |
| 210000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 11/1/28 | 222146 |
| 300000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 2/14/29 | 305175 |
| 1290000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 2/4/32 | 1143742 |
| 669000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 11/1/33 | 760428 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 2/14/39 | 52068 |
| 320000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 2/14/49 | 326684 |
| 25000 | A | Archer-Daniels-Midland Co., Senior Unsecured Notes, 3.250% due 3/27/30 | 24182 |
|  |  | BAT Capital Corp., Company Guaranteed Notes: |  |
| 224000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.557% due 8/15/27 | 221891 |
| 148000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.259% due 3/25/28 | 142089 |
| 105000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.834% due 2/20/31 | 111637 |
| 90000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 2/20/34 | 96908 |
| 1595000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 8/15/35 | 1673092 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.390% due 8/15/37 | 46340 |
| 791000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.540% due 8/15/47 | 667916 |
| 368000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.758% due 9/6/49 | 316443 |
| 183000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.081% due 8/2/53 | 209527 |
| 770000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 8/15/55 | 810885 |
|  |  | BAT International Finance PLC, Company Guaranteed Notes: |  |
| 110000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.448% due 3/16/28 | 110888 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.931% due 2/2/29 | 52603 |
| 145000 | BB+ | Darling Ingredients Inc., Company Guaranteed Notes, 5.250% due 4/15/27(a) | 145193 |
| 690000 | BBB | Imperial Brands Finance PLC, Company Guaranteed Notes, 5.875% due 7/1/34(a) | 723680 |
| 1225000 | A+ | Japan Tobacco Inc., Senior Unsecured Notes, 5.850% due 6/15/35(a) | 1317261 |
|  |  | Philip Morris International Inc., Senior Unsecured Notes: |  |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 2/12/27 | 100966 |
| 234000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 11/17/27 | 238978 |
| 180000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 2/13/29 | 184251 |
| 210000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 5/1/30 | 192611 |
| 40000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 2/13/31 | 41592 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Agriculture - 0.6% - (continued)** | **Agriculture - 0.6% - (continued)** | **Agriculture - 0.6% - (continued)** |  |
| $50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 2/15/33 | $52424 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 9/7/33 | 26662 |
| 190000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 2/13/34 | 197360 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% due 5/16/38 | 28164 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/21/42 | 20933 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 3/4/43 | 21570 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 11/10/44 | 21575 |
|  |  | Reynolds American Inc., Company Guaranteed Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 8/15/35 | 26330 |
| 89000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 8/15/45 | 88800 |
|  |  | Total Agriculture | 10722994 |
| **Airlines - 0.3%** | **Airlines - 0.3%** | **Airlines - 0.3%** |  |
| 609200 | A- | American Airlines Class A Pass-Through Trust, Pass-Thru Certificates, 3.375% due 5/1/27 | 600655 |
| 250000 | BB | American Airlines Inc., Senior Secured Notes, 8.500% due 5/15/29(a) | 261317 |
| 71667 | Ba1(b) | American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes,<br>5.500% due 4/20/26(a) | 71882 |
| 1210112 | AA | British Airways Class AA Pass Through Trust, Pass-Thru Certificates,<br>3.300% due 12/15/32(a) | 1154824 |
| 350515 | AA | Delta Air Lines Class AA Pass Through Trust, Pass-Thru Certificates, 2.000% due 6/10/28 | 336730 |
| 2495000 | A3(b) | Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes, 4.750% due 10/20/28(a) | 2510726 |
| 95000 | B+ | JetBlue Airways Corp./JetBlue Loyalty LP, Senior Secured Notes, 9.875% due 9/20/31(a) | 93903 |
| 41240 | Aa2(b) | United Airlines Class AA Pass-Through Trust, Pass-Thru Certificates, 4.150% due 8/25/31 | 40792 |
| 332231 | A+ | United Airlines Class B Pass-Through Trust, Pass-Thru Certificates, 4.875% due 1/15/26 | 332280 |
| 195000 | BBB- | United Airlines Inc., Senior Secured Notes, 4.625% due 4/15/29(a) | 194146 |
|  |  | Total Airlines | 5597255 |
| **Apparel - 0.0%@** | **Apparel - 0.0%@** | **Apparel - 0.0%@** |  |
| 495000 | BBB- | Gildan Activewear Inc., Company Guaranteed Notes, 5.400% due 10/7/35(a) | 495048 |
|  |  | NIKE Inc., Senior Unsecured Notes: |  |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 3/27/40 | 20436 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 11/1/45 | 20511 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 3/27/50 | 36489 |
|  |  | Total Apparel | 572484 |
| **Auto Manufacturers - 0.8%** | **Auto Manufacturers - 0.8%** | **Auto Manufacturers - 0.8%** |  |
| 185000 | Ba2(b) | Allison Transmission Inc., Senior Unsecured Notes, 5.875% due 6/1/29(a) | 188180 |
| 100000 | A- | American Honda Finance Corp., Senior Unsecured Notes, 4.900% due 3/12/27 | 101059 |
| 25000 | A | Cummins Inc., Senior Unsecured Notes, 2.600% due 9/1/50 | 15619 |
| 750000 | A- | Daimler Truck Finance North America LLC, Company Guaranteed Notes,<br>4.650% due 10/12/30(a) | 756652 |
|  |  | Ford Motor Co., Senior Unsecured Notes: |  |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/15/43 | 40269 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.291% due 12/8/46 | 42222 |
|  |  | Ford Motor Credit Co. LLC, Senior Unsecured Notes: |  |
| 890000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 11/5/26 | 894461 |
| 200000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 3/5/27 | 202436 |
| 460000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 2/16/28 | 441498 |
| 220000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 2/10/29 | 205821 |
| 200000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 11/7/29 | 204668 |
| 645000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.730% due 9/5/30 | 656660 |
| 1000000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 11/13/30 | 942587 |
| 230000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.122% due 11/7/33 | 247980 |
| 2535000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.869% due 10/31/35 | 2520648 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Auto Manufacturers - 0.8% - (continued)** | **Auto Manufacturers - 0.8% - (continued)** | **Auto Manufacturers - 0.8% - (continued)** |  |
|  |  | General Motors Co., Senior Unsecured Notes: |  |
| $50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 10/15/32 | $52473 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.600% due 4/1/36 | 54777 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 4/1/38 | 48588 |
| 260000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 10/2/43 | 267148 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 4/1/45 | 22746 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 4/1/46 | 27136 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 4/1/48 | 23085 |
|  |  | General Motors Financial Co., Inc.: |  |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 4.350% due 1/17/27 | 100155 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.350% due 2/26/27 | 97845 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 1/7/30 | 103245 |
| 765000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 4/6/30 | 805842 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 4/4/34 | 52647 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 1/7/35 | 52344 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.150% due 7/15/35 | 53123 |
|  |  | Honda Motor Co., Ltd., Senior Unsecured Notes: |  |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.534% due 3/10/27 | 98201 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.688% due 7/8/30 | 101342 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.337% due 7/8/35 | 51440 |
|  |  | Hyundai Capital America, Senior Unsecured Notes: |  |
| 700000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 6/26/26(a) | 705585 |
| 305000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 3/19/27(a) | 309359 |
| 800000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 4/1/30(a) | 841221 |
| 1470000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 6/23/32(a) | 1526857 |
|  |  | Toyota Motor Credit Corp., Senior Unsecured Notes: |  |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 1/11/27 | 49645 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.900% due 1/13/27 | 97922 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 3/22/27 | 98946 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 11/20/30 | 106305 |
|  |  | Volkswagen Group of America Finance LLC, Company Guaranteed Notes: |  |
| 260000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 11/13/28(a) | 262940 |
| 580000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 3/27/30(a) | 597407 |
|  |  | Total Auto Manufacturers | 14069084 |
| **Auto Parts & Equipment - 0.1%** | **Auto Parts & Equipment - 0.1%** | **Auto Parts & Equipment - 0.1%** |  |
|  |  | Adient Global Holdings Ltd.: |  |
| 430000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 7.500% due 2/15/33(a) | 445559 |
| 195000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 7.000% due 4/15/28(a) | 200555 |
|  |  | Aptiv Swiss Holdings Ltd., Company Guaranteed Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 12/1/51 | 16314 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 5/1/52 | 19549 |
| 110000 | BB- | Clarios Global LP/Clarios US Finance Co., Senior Secured Notes, 6.750% due 2/15/30(a) | 114427 |
| 130000 | BB- | Dana Inc., Senior Unsecured Notes, 5.625% due 6/15/28 | 130156 |
| 250000 | B+ | Goodyear Tire & Rubber Co. (The), Company Guaranteed Notes, 5.000% due 7/15/29 | 243074 |
| 175000 | BB+ | Qnity Electronics Inc., Senior Secured Notes, 5.750% due 8/15/32(a) | 179825 |
|  |  | Total Auto Parts & Equipment | 1349459 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Banks - 7.6%** | **Banks - 7.6%** | **Banks - 7.6%** | **Banks - 7.6%** |  |
|  |  |  | ABN AMRO Bank NV: |  |
| 600000 | <sup>EUR</sup> | Ba1u(b) | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, (Cost - $619,349, acquired 3/7/24), 4.750%<br>(5-Year EUR Swap Rate + 3.898%)(c)(d)(e) | $701059 |
| $800000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes, 2.470%<br>(1-Year CMT Index + 1.100%) due 12/13/29(a)(d) | 762433 |
|  |  |  | AIB Group PLC, Senior Unsecured Notes: |  |
| 1025000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.320% (SOFR + 1.650%) due 5/15/31(a)(d) | 1060345 |
| 200000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.871% (SOFR + 1.910%) due 3/28/35(a)(d) | 212779 |
| 800000 |  | A+ | Banco Bilbao Vizcaya Argentaria SA, Senior Preferred Notes, 5.381% due 3/13/29 | 830148 |
| 1000000 |  | BB- | Banco Mercantil del Norte SA, Junior Subordinated Notes, 5.875%<br>(5-Year CMT Index + 4.643%)(a)(d)(e) | 988172 |
| 720000 |  | Ba1(b) | Banco Nacional de Comercio Exterior SNC, Subordinated Notes, 2.720%<br>(5-Year CMT Index + 2.000%) due 8/11/31(a)(d) | 703279 |
| 800000 |  | Baa2(b) | Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santander, Subordinated Notes, 7.525% (5-Year CMT Index + 2.995%) due 10/1/28(a)(d) | 857891 |
|  |  |  | Banco Santander SA: |  |
| 400000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 9.625% (5-Year CMT Index + 5.306%)(d)(e) | 445526 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes: |  |
| 400000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.551% due 11/6/30 | 402110 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.127% due 11/6/35 | 201704 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Preferred Notes: |  |
| 800000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.588% due 8/8/28 | 830283 |
| 200000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.938% due 11/7/33 | 230795 |
|  |  |  | Bank of America Corp.: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes: |  |
| 420000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% (5-Year CMT Index + 2.351%)(d)(e) | 425024 |
| 841000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% (5-Year CMT Index + 2.684%)(d)(e) | 873050 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 740000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.658% (SOFR + 0.910%) due 3/11/27(d) | 734705 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.824% (3-Month Term SOFR + 1.837%) due 1/20/28(d) | 99691 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.551% (SOFR + 1.050%) due 2/4/28(d) | 98239 |
| 230000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.376% (SOFR + 1.580%) due 4/27/28(d) | 230865 |
| 150000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.593% (3-Month Term SOFR + 1.632%) due 7/21/28(d) | 148867 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.948% (SOFR + 2.040%) due 7/22/28(d) | 101426 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.204% (SOFR + 1.990%) due 11/10/28(d) | 104020 |
| 435000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.419% (3-Month Term SOFR + 1.302%) due 12/20/28(d) | 429689 |
| 3850000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.970% (3-Month Term SOFR + 1.332%) due 3/5/29(d) | 3844547 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.087% (SOFR + 1.060%) due 6/14/29(d) | 95368 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.271% (3-Month Term SOFR + 1.572%) due 7/23/29(d) | 100646 |
| 141000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.819% (SOFR + 1.570%) due 9/15/29(d) | 147476 |
| 659000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.974% (3-Month Term SOFR + 1.472%) due 2/7/30(d) | 656268 |
| 383000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.592% (SOFR + 2.150%) due 4/29/31(d) | 358210 |
| 585000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.922% (SOFR + 1.370%) due 10/24/31(d) | 524836 |
| 690000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.687% (SOFR + 1.320%) due 4/22/32(d) | 635412 |
| 600000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.572% (SOFR + 1.210%) due 10/20/32(d) | 544567 |
| 752000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.972% (SOFR + 1.330%) due 2/4/33(d) | 691447 |
| 1490000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.571% (SOFR + 1.830%) due 4/27/33(d) | 1496575 |
| 411000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.872% (SOFR + 1.840%) due 9/15/34(d) | 443171 |
| 555000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.468% (SOFR + 1.650%) due 1/23/35(d) | 583909 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.511% (SOFR + 1.310%) due 1/24/36(d) | 211162 |
| 250000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.244% (3-Month Term SOFR + 2.076%) due 4/24/38(d) | 236235 |
| 250000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.676% (SOFR + 1.930%) due 6/19/41(d) | 188200 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 1/21/44 | 197302 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** |  |
| $360000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.330% (3-Month Term SOFR + 1.782%) due 3/15/50(d) | $309534 |
| 260000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.083% (3-Month Term SOFR + 3.412%) due 3/20/51(d) | 214401 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.831% (SOFR + 1.880%) due 10/24/51(d) | 32785 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes: |  |
| 20000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 10/22/26 | 20045 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.183% due 11/25/27 | 100143 |
| 790000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.425% (SOFR + 1.913%) due 8/15/35(d) | 814497 |
| 1730000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.518% (SOFR + 1.738%) due 10/25/35(d) | 1787998 |
| 770000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.482% (5-Year CMT Index + 1.200%) due 9/21/36(d) | 677963 |
| 680000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.846% (5-Year CMT Index + 2.000%) due 3/8/37(d) | 643298 |
| 100000 |  | A- | Bank of Montreal, Senior Unsecured Notes, 2.650% due 3/8/27 | 98442 |
|  |  |  | Bank of New York Mellon Corp. (The), Senior Unsecured Notes: |  |
| 390000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.289% (SOFR + 1.418%) due 6/13/33(d) | 386910 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.967% (SOFR + 1.606%) due 4/26/34(d) | 51350 |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.188% (SOFR + 1.418%) due 3/14/35(d) | 103818 |
|  |  |  | Bank of Nova Scotia (The): |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.950% due 2/2/27 | 97839 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.951% due 3/11/27 | 49414 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 2/1/34 | 107046 |
| 180000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 4.588% (5-Year CMT Index + 2.050%) due 5/4/37(d) | 175805 |
| 1500000 |  | A+ | Banque Federative du Credit Mutuel SA, Senior Preferred Notes, 5.194% due 2/16/28(a) | 1533610 |
|  |  |  | Barclays PLC, Senior Unsecured Notes: |  |
| 2050000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.972% (3-Month USD-LIBOR + 1.902%) due 5/16/29(d) | 2085747 |
| 200000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.490% (SOFR + 2.220%) due 9/13/29(d) | 211781 |
| 2305000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.367% (SOFR + 1.230%) due 2/25/31(d)(f) | 2388814 |
| 200000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.894% (1-Year CMT Index + 1.300%) due 11/24/32(d) | 182201 |
| 200000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.224% (SOFR + 2.980%) due 5/9/34(d) | 216385 |
| 730000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.785% (SOFR + 1.590%) due 2/25/36(d) | 770887 |
| 200000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.860% (SOFR + 1.830%) due 8/11/46(d) | 207816 |
| 600000 | <sup>EUR</sup> | Ba1(b) | BAWAG Group AG, Junior Subordinated Notes, (Cost - $659,155, acquired 12/9/24), 7.250% (5-Year EURIBOR ICE Swap + 5.052%)(c)(d)(e) | 740103 |
|  |  |  | BNP Paribas SA: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes: |  |
| 550000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% (5-Year CMT Index + 4.899%)(a)(d)(e) | 581694 |
| 200000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000% (5-Year CMT Index + 3.727%)(a)(d)(e) | 214984 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes: |  |
| 950000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 8/14/28(a) | 954819 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.871% (3-Month Term SOFR + 1.387%) due 4/19/32(a)(d) | 183053 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Preferred Notes: |  |
| 650000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% (1-Year CMT Index + 1.450%) due 1/13/29(a)(d) | 662424 |
| 600000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.894% (SOFR + 1.866%) due 12/5/34(a)(d) | 643244 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes: |  |
| 200000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% (5-Year USD Swap Rate + 1.483%) due 3/1/33(a)(d) | 198689 |
| 1000000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.906% (SOFR + 1.920%) due 11/19/35(a)(d) | 1046462 |
|  |  |  | BPCE SA, Senior Non-Preferred Notes: |  |
| 1120000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.714% (SOFR + 2.270%) due 10/19/29(a)(d) | 1192361 |
| 1375000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.936% (SOFR + 1.850%) due 5/30/35(a)(d) | 1452320 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** |  |
|  |  |  | CaixaBank SA: |  |
| $200000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes, 5.581% (SOFR + 1.790%) due 7/3/36(a)(d) | $207628 |
| 900000 | <sup>EUR</sup> | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, (Cost - $1,036,823, acquired 3/7/24), 6.250%<br>(5-Year EUR Swap Rate + 3.550%) due 2/23/33(c)(d) | 1108248 |
|  |  |  | Citigroup Inc.: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes: |  |
| 210000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950% (5-Year CMT Index + 2.726%)(d)(e) | 215191 |
| 700000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125% (5-Year CMT Index + 2.693%)(d)(e) | 718224 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 70000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.658% (SOFR + 1.887%) due 5/24/28(d) | 70623 |
| 2540000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.520% (3-Month Term SOFR + 1.413%) due 10/27/28(d) | 2514330 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.980% (3-Month Term SOFR + 1.600%) due 3/20/30(d) | 99277 |
| 550000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.412% (SOFR + 3.914%) due 3/31/31(d) | 551965 |
| 70000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.572% (SOFR + 2.107%) due 6/3/31(d) | 64963 |
| 70000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.503% (SOFR + 1.171%) due 9/11/31(d) | 70513 |
| 690000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.561% (SOFR + 1.167%) due 5/1/32(d) | 628057 |
| 160000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.520% (SOFR + 1.177%) due 11/3/32(d) | 143683 |
| 250000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.785% (SOFR + 1.939%) due 3/17/33(d) | 239548 |
| 220000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.910% (SOFR + 2.086%) due 5/24/33(d) | 224110 |
| 2230000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.174% (SOFR + 1.488%) due 9/11/36(d) | 2276606 |
| 76000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% due 7/30/45 | 69472 |
| 70000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% due 7/23/48 | 62949 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes: |  |
| 890000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 11/20/26 | 891642 |
| 30000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 6/15/32 | 33402 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.675% due 9/13/43 | 113027 |
| 286000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 5/6/44 | 279554 |
|  |  |  | Commonwealth Bank of Australia: |  |
| 8000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 3.900% due 7/12/47(a) | 6690 |
| 1945000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 5.929% (1-Year CMT Index + 1.320%) due 3/14/46(a)(d) | 2020365 |
| 270000 |  | A- | Cooperatieve Rabobank UA, Senior Non-Preferred Notes, 3.758%<br>(1-Year CMT Index + 1.420%) due 4/6/33(a)(d) | 257710 |
|  |  |  | Credit Agricole SA: |  |
| 1000000 | <sup>EUR</sup> | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, (Cost - $1,147,706, acquired 3/6/24), 7.250%<br>(5-Year EURIBOR ICE Swap + 4.441%)(c)(d)(e) | 1242686 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes: |  |
| 915000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.222% (SOFR + 1.460%) due 5/27/31(a)(d) | 943862 |
| 890000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.818% (SOFR + 1.360%) due 9/25/33(a)(d) | 892273 |
| 490000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.862% (SOFR + 1.740%) due 1/9/36(a)(d) | 519848 |
|  |  |  | Danske Bank AS, Senior Non-Preferred Notes: |  |
| 2100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.298% (1-Year CMT Index + 1.750%) due 4/1/28(a)(d) | 2102477 |
| 1250000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.705% (1-Year CMT Index + 1.400%) due 3/1/30(a)(d) | 1303892 |
| 310000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.613% (1-Year CMT Index + 1.100%) due 10/2/30(a)(d) | 313004 |
|  |  |  | Deutsche Bank AG: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes: |  |
| 200000 | <sup>EUR</sup> | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost - $226,274, acquired 12/4/24), 5.000%<br>(3-Month EURIBOR + 2.950%) due 9/5/30(c)(d) | 246569 |
| 150000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.297% (SOFR + 1.720%) due 5/9/31(d) | 154278 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes: |  |
| 400000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.742% (SOFR + 2.257%) due 1/7/33(d) | 373375 |
| 310000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.079% (SOFR + 3.650%) due 2/10/34(d) | 341079 |
| 300000 |  | AA- | DNB Bank ASA, Senior Preferred Notes, 4.853% (SOFR + 1.050%) due 11/5/30(a)(d) | 307030 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** |  |
|  |  | Fifth Third Bancorp, Senior Unsecured Notes: |  |
| $100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 5/5/27 | $97961 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.339% (SOFR + 2.340%) due 7/27/29(d) | 105385 |
|  |  | Goldman Sachs Group Inc. (The): |  |
| 590000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 7.500% (5-Year CMT Index + 2.809%)(d)(e) | 623361 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 150000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 11/16/26 | 149382 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 1/26/27 | 99823 |
| 70000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.615% (SOFR + 1.846%) due 3/15/28(d) | 69548 |
| 791000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.814% (3-Month Term SOFR + 1.420%) due 4/23/29(d) | 785748 |
| 2394000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.223% (3-Month Term SOFR + 1.563%) due 5/1/29(d) | 2399410 |
| 174000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.484% (SOFR + 1.770%) due 10/24/29(d) | 185029 |
| 200000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.218% (SOFR + 1.580%) due 4/23/31(d) | 207261 |
| 1950000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.369% (SOFR + 1.060%) due 10/21/31(d) | 1952724 |
| 57000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.992% (SOFR + 1.090%) due 1/27/32(d) | 50785 |
| 984000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.615% (SOFR + 1.281%) due 4/22/32(d) | 900182 |
| 1800000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.383% (SOFR + 1.248%) due 7/21/32(d) | 1619011 |
| 1238000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% (SOFR + 1.264%) due 10/21/32(d) | 1122184 |
| 284000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.561% (SOFR + 1.950%) due 10/24/34(d) | 319888 |
| 340000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.330% (SOFR + 1.550%) due 7/23/35(d) | 352971 |
| 1500000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.939% (SOFR + 1.330%) due 10/21/36(d) | 1506170 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.017% (3-Month Term SOFR + 1.635%) due 10/31/38(d) | 45457 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.411% (3-Month Term SOFR + 1.692%) due 4/23/39(d) | 46908 |
| 210000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 2/1/41 | 232653 |
| 330000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.210% (SOFR + 1.513%) due 4/22/42(d) | 257890 |
| 10000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.908% (SOFR + 1.472%) due 7/21/42(d) | 7459 |
| 300000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.436% (SOFR + 1.632%) due 2/24/43(d) | 238122 |
| 10000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 10/21/45 | 9226 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.734% (SOFR + 1.696%) due 1/28/56(d) | 103973 |
| 290000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 5.150% due 5/22/45 | 276365 |
|  |  | HSBC Holdings PLC: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.041% (3-Month Term SOFR + 1.808%) due 3/13/28(d) | 199667 |
| 200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.583% (3-Month Term SOFR + 1.796%) due 6/19/29(d) | 201844 |
| 900000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.286% (SOFR + 1.290%) due 11/19/30(d) | 931208 |
| 2045000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.240% (SOFR + 1.570%) due 5/13/31(d) | 2115130 |
| 295000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.619% (SOFR + 1.190%) due 11/6/31(d) | 296984 |
| 1030000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.804% (SOFR + 1.187%) due 5/24/32(d) | 943688 |
| 200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.402% (SOFR + 2.870%) due 8/11/33(d) | 208587 |
| 200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.254% (SOFR + 2.390%) due 3/9/34(d) | 219250 |
| 305000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.133% (SOFR + 1.430%) due 11/6/36(d) | 307864 |
| 200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.332% (SOFR + 2.650%) due 3/9/44(d) | 221249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes: |  |
| 220000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.762% (SOFR + 2.530%) due 3/29/33(d) | 219684 |
| 200000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.547% (SOFR + 2.980%) due 6/20/34(d) | 217469 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 9/15/37 | 108929 |
| 200000 | A- | HSBC USA Inc., Senior Unsecured Notes, 5.294% due 3/4/27 | 203206 |
|  |  | Intesa Sanpaolo SpA: |  |
| 340000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp; Senior Preferred Notes, 7.200% due 11/28/33(a) | 390103 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** |  |
| $350000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 4.950% (1-Year CMT Index + 2.750%) due 6/1/42(a)(d) | $298756 |
|  |  |  | JPMorgan Chase & Co.: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 53000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.299% (SOFR + 1.450%) due 7/24/29(d) | 54660 |
| 2082000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.012% (SOFR + 1.310%) due 1/23/30(d) | 2138177 |
| 46000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.565% (SOFR + 1.750%) due 6/14/30(d) | 46649 |
| 1330000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.739% (3-Month Term SOFR + 1.510%) due 10/15/30(d) | 1264083 |
| 1955000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.580% (3-Month Term SOFR + 1.250%) due 4/22/32(d) | 1795803 |
| 772000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% (SOFR + 1.845%) due 6/1/34(d) | 810687 |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.502% (SOFR + 1.315%) due 1/24/36(d) | 105679 |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.572% (SOFR + 1.680%) due 4/22/36(d) | 212532 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.882% (3-Month Term SOFR + 1.622%) due 7/24/38(d) | 45551 |
| 150000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.109% (SOFR + 2.440%) due 4/22/51(d) | 104739 |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.328% (SOFR + 1.580%) due 4/22/52(d) | 145043 |
| 2985000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 5.576% (SOFR + 1.635%) due 7/23/36(d) | 3124573 |
| 800000 | <sup>EUR</sup> | BBB- | KBC Group NV, Junior Subordinated Notes, (Cost - $940,004, acquired 3/8/24), 8.000% (5-Year EURIBOR ICE Swap + 4.928%)(c)(d)(e) | 1023595 |
|  |  |  | Kreditanstalt fuer Wiederaufbau, Government Guaranteed Notes: |  |
| 400000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 3/1/27 | 403867 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 2/15/28 | 201145 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 3/18/30 | 208217 |
|  |  |  | Lloyds Banking Group PLC: |  |
| 665000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 6.750% (5-Year CMT Index + 4.815%)(d)(e) | 673886 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 1/11/27 | 199520 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 3/22/28 | 201372 |
| 400000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.679% (1-Year CMT Index + 1.750%) due 1/5/35(d) | 423183 |
| 345000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.943% (1-Year CMT Index + 0.970%) due 11/4/36(d) | 343990 |
|  |  |  | M&T Bank Corp., Senior Unsecured Notes: |  |
| 199000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.082% (SOFR + 2.260%) due 3/13/32(d) | 211804 |
| 244000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.385% (SOFR + 1.610%) due 1/16/36(d) | 248924 |
|  |  |  | Mizuho Financial Group Inc., Senior Unsecured Notes: |  |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.201% (3-Month Term SOFR + 1.772%) due 7/10/31(d) | 182472 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.748% (1-Year CMT Index + 1.900%) due 7/6/34(d) | 213591 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.422% (1-Year CMT Index + 0.980%) due 5/13/36(d) | 208645 |
| 1500000 |  | A- | National Australia Bank Ltd., Subordinated Notes, 3.347%<br>(5-Year CMT Index + 1.700%) due 1/12/37(a)(d) | 1381692 |
|  |  |  | NatWest Group PLC, Senior Unsecured Notes: |  |
| 400000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.076% (3-Month USD-LIBOR + 1.905%) due 1/27/30(d) | 409751 |
| 3415000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.115% (1-Year CMT Index + 1.050%) due 5/23/31(d) | 3517027 |
| 1820000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.778% (1-Year CMT Index + 1.500%) due 3/1/35(d) | 1938460 |
| 500000 |  | A | NatWest Markets PLC, Senior Unsecured Notes, 1.600% due 9/29/26(a) | 490493 |
|  |  |  | PNC Financial Services Group Inc. (The), Senior Unsecured Notes: |  |
| 420000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.582% (SOFR + 1.841%) due 6/12/29(d) | 435525 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 1/22/30 | 47160 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.222% (SOFR + 1.072%) due 1/29/31(d) | 103749 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.037% (SOFR + 2.140%) due 10/28/33(d) | 54206 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.068% (SOFR + 1.933%) due 1/24/34(d) | 51423 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.676% (SOFR + 1.902%) due 1/22/35(d) | 52971 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.401% (SOFR + 1.599%) due 7/23/35(d) | 26067 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** |  |
| $160000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.373% (SOFR + 1.417%) due 7/21/36(d) | $165811 |
| 800000 | <sup>EUR</sup> | Baa2(b) | Raiffeisen Bank International AG, Subordinated Notes, (Cost - $909,316, acquired 5/30/24), 7.375% (5-Year EURIBOR ICE Swap + 5.200%) due 12/20/32(c)(d) | 993163 |
|  |  |  | Royal Bank of Canada, Senior Unsecured Notes: |  |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 1/19/27 | 101094 |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 2/1/29 | 102952 |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 2/1/34 | 105195 |
|  |  |  | Santander Holdings USA Inc., Senior Unsecured Notes: |  |
| 89000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.174% (SOFR + 2.500%) due 1/9/30(d) | 92957 |
| 1155000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.741% (SOFR + 1.878%) due 3/20/31(d) | 1197338 |
| 915000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.660% (SOFR + 3.280%) due 11/9/31(d) | 1026757 |
| 950000 |  | BBB | Santander UK Group Holdings PLC, Senior Unsecured Notes, 4.858%<br>(SOFR + 1.554%) due 9/11/30(d) | 964391 |
|  |  |  | Societe Generale SA, Senior Non-Preferred Notes: |  |
| 1080000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.512% (SOFR + 1.650%) due 5/22/31(a)(d) | 1118964 |
| 540000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.066% (1-Year CMT Index + 2.100%) due 1/19/35(a)(d) | 572311 |
|  |  |  | State Street Corp.: |  |
| 62000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 6.700% (5-Year CMT Index + 2.613%)(d)(e) | 64415 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.530% (SOFR + 1.018%) due 2/20/29(d) | 101194 |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.684% (SOFR + 1.484%) due 11/21/29(d) | 104855 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.164% (SOFR + 1.726%) due 8/4/33(d) | 49243 |
|  |  |  | Sumitomo Mitsui Financial Group Inc., Senior Unsecured Notes: |  |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.446% due 1/11/27 | 198873 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.174% due 1/14/27 | 196148 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.130% due 7/8/30 | 182632 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.808% due 9/14/33 | 215735 |
|  |  |  | Toronto-Dominion Bank (The), Senior Unsecured Notes: |  |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.950% due 1/12/27 | 97948 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 3/10/27 | 98546 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.298% due 1/30/32 | 105041 |
| 300000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.456% due 6/8/32 | 301113 |
|  |  |  | Truist Financial Corp., Senior Unsecured Notes: |  |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.122% (SOFR + 1.852%) due 1/26/34(d) | 51081 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.867% (SOFR + 2.361%) due 6/8/34(d) | 26672 |
| 800000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.711% (SOFR + 1.922%) due 1/24/35(d) | 846355 |
|  |  |  | UBS Group AG: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes: |  |
| 250000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% (5-Year CMT Index + 3.404%)(a)(d)(e) | 247847 |
| 795000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.850% (5-Year USD SOFR ICE Swap Rate + 3.630%)(a)(d)(e) | 812310 |
| 200000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250% (5-Year CMT Index + 4.745%)(a)(d)(e) | 220157 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 500000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.703% (1-Year CMT Index + 2.050%) due 8/5/27(a)(d) | 501624 |
| 1500000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.494% (1-Year CMT Index + 0.850%) due 8/10/27(a)(d) | 1472126 |
| 500000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.751% (1-Year CMT Index + 1.750%) due 5/12/28(a)(d) | 503967 |
| 1415000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.091% (SOFR + 1.730%) due 5/14/32(a)(d) | 1319366 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.010% (SOFR + 1.340%) due 3/23/37(a)(d) | 200115 |
|  |  |  | US Bancorp, Senior Unsecured Notes: |  |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.548% (SOFR + 1.660%) due 7/22/28(d) | 201582 |
| 155000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.083% (SOFR + 1.296%) due 5/15/31(d) | 160140 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** | **Banks - 7.6% - (continued)** |  |
| $50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% (SOFR + 2.090%) due 10/21/33(d) | $53736 |
| 1415000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.839% (SOFR + 1.600%) due 2/1/34(d) | 1433789 |
| 1415000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.836% (SOFR + 2.260%) due 6/12/34(d) | 1519047 |
| 1595000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.678% (SOFR + 1.860%) due 1/23/35(d) | 1696301 |
|  |  | Wells Fargo & Co.: |  |
| 150000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 6.850% (5-Year CMT Index + 2.767%)(d)(e) | 157272 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 500000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 10/23/26 | 495345 |
| 300000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.707% (SOFR + 1.070%) due 4/22/28(d) | 306450 |
| 510000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.393% (SOFR + 2.100%) due 6/2/28(d) | 497815 |
| 490000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 1/24/29 | 491417 |
| 510000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.574% (SOFR + 1.740%) due 7/25/29(d) | 528682 |
| 111000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.303% (SOFR + 1.790%) due 10/23/29(d) | 117560 |
| 103000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.572% (3-Month Term SOFR + 1.262%) due 2/11/31(d) | 96478 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.478% (3-Month Term SOFR + 4.032%) due 4/4/31(d) | 101122 |
| 480000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% (SOFR + 1.500%) due 4/23/31(d) | 497257 |
| 1730000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% (SOFR + 1.500%) due 3/2/33(d) | 1625931 |
| 325000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.389% (SOFR + 2.020%) due 4/24/34(d) | 340804 |
| 863000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.557% (SOFR + 1.990%) due 7/25/34(d) | 914364 |
| 140000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.491% (SOFR + 2.060%) due 10/23/34(d) | 156604 |
| 570000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.892% (SOFR + 1.340%) due 9/15/36(d)(f) | 575120 |
| 200000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.068% (SOFR + 2.530%) due 4/30/41(d) | 158030 |
| 1240000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.013% (3-Month Term SOFR + 4.502%) due 4/4/51(d) | 1164904 |
| 200000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.611% (SOFR + 2.130%) due 4/25/53(d) | 176409 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes: |  |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 11/2/43 | 197259 |
| 20000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% due 11/4/44 | 17842 |
| 20000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 11/17/45 | 18261 |
| 10000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 12/7/46 | 8944 |
| 250000 | A+ | Wells Fargo Bank NA, Senior Unsecured Notes, 5.254% due 12/11/26 | 253278 |
|  |  | Westpac Banking Corp.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 100000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 3/8/27 | 99504 |
| 50000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.150% due 6/3/31 | 45433 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 2.668% (5-Year CMT Index + 1.750%) due 11/15/35(d) | 90646 |
|  |  | Total Banks | 137679290 |
| **Beverages - 0.2%** | **Beverages - 0.2%** | **Beverages - 0.2%** |  |
|  |  | Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes: |  |
| 125000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 2/1/36 | 124960 |
| 924000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 2/1/46 | 870786 |
| 50000 | A- | Anheuser-Busch InBev Finance Inc., Company Guaranteed Notes, 4.900% due 2/1/46 | 46960 |
|  |  | Anheuser-Busch InBev Worldwide Inc., Company Guaranteed Notes: |  |
| 260000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 6/1/30 | 254772 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 4/15/38 | 48206 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 1/23/39 | 52432 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 1/15/42 | 24323 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.439% due 10/6/48 | 43947 |
| 210000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 1/23/49 | 213828 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Beverages - 0.2% - (continued)** | **Beverages - 0.2% - (continued)** | **Beverages - 0.2% - (continued)** |  |
| $50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 4/15/58 | $44893 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 1/23/59 | 52174 |
|  |  | Coca-Cola Co. (The), Senior Unsecured Notes: |  |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 3/25/27 | 99648 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 5/13/34 | 52537 |
| 240000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 6/1/40 | 181067 |
| 85000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.600% due 6/1/50 | 54242 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 3/5/51 | 17122 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 3/15/51 | 30860 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 5/13/54 | 50028 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 5/13/64 | 24995 |
|  |  | Constellation Brands Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 12/6/26 | 99754 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 11/15/48 | 23559 |
| 30000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 2.250% due 8/1/31 | 26611 |
|  |  | Keurig Dr Pepper Inc., Company Guaranteed Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 5/1/50 | 18408 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 3/15/51 | 16972 |
| 50000 | BBB | Molson Coors Beverage Co., Company Guaranteed Notes, 4.200% due 7/15/46 | 40983 |
|  |  | PepsiCo Inc., Senior Unsecured Notes: |  |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625% due 3/19/27 | 98557 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 7/17/34 | 51432 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625% due 10/21/41 | 18445 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 4/14/46 | 22591 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 10/15/49 | 16893 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 3/19/50 | 19396 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 10/21/51 | 32224 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 7/18/52 | 21012 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 3/19/60 | 19438 |
|  |  | Total Beverages | 2814055 |
| **Biotechnology - 0.1%** | **Biotechnology - 0.1%** | **Biotechnology - 0.1%** |  |
|  |  | Amgen Inc., Senior Unsecured Notes: |  |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.200% due 2/21/27 | 97835 |
| 171000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 3/2/28 | 175051 |
| 180000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 8/18/29 | 179780 |
| 221000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 2/21/30 | 206158 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% due 6/1/37 | 28047 |
| 100000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150% due 2/21/40 | 80051 |
| 43000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 2/21/50 | 31345 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.663% due 6/15/51 | 43863 |
| 69000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 2/22/52 | 56033 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 3/1/53 | 45007 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 3/2/53 | 50274 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.770% due 9/1/53 | 30561 |
| 38000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 2/22/62 | 30557 |
| 67000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/2/63 | 67187 |
| 50000 | BBB+ | Biogen Inc., Senior Unsecured Notes, 3.150% due 5/1/50 | 33258 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Biotechnology - 0.1% - (continued)** | **Biotechnology - 0.1% - (continued)** | **Biotechnology - 0.1% - (continued)** |  |
|  |  | Gilead Sciences Inc., Senior Unsecured Notes: |  |
| $474000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.650% due 10/1/30 | $424607 |
| 90000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 9/1/36 | 84933 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.600% due 10/1/40 | 74714 |
| 142000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 4/1/44 | 133171 |
| 99000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 2/1/45 | 89237 |
| 70000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 3/1/46 | 64845 |
| 100000 | BBB- | Royalty Pharma PLC, Company Guaranteed Notes, 5.400% due 9/2/34 | 102959 |
|  |  | Total Biotechnology | 2129473 |
| **Building Materials - 0.2%** | **Building Materials - 0.2%** | **Building Materials - 0.2%** |  |
| 335000 | BB- | Builders FirstSource Inc., Company Guaranteed Notes, 4.250% due 2/1/32(a) | 318678 |
| 660000 | B- | Camelot Return Merger Sub Inc., Senior Secured Notes, 8.750% due 8/1/28(a) | 552460 |
|  |  | Carrier Global Corp., Senior Unsecured Notes: |  |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.493% due 2/15/27 | 49106 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.377% due 4/5/40 | 40857 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.577% due 4/5/50 | 37617 |
| 525000 | BB- | EMRLD Borrower LP/Emerald Co.-Issuer Inc., Senior Secured Notes, 6.625% due 12/15/30(a) | 544742 |
| 155000 | B+ | Griffon Corp., Company Guaranteed Notes, 5.750% due 3/1/28 | 155666 |
| 135000 | BB | Knife River Corp., Company Guaranteed Notes, 7.750% due 5/1/31(a) | 142372 |
|  |  | Martin Marietta Materials Inc., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 12/15/47 | 21231 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 7/15/51 | 17146 |
| 115000 | BB | Masterbrand Inc., Company Guaranteed Notes, 7.000% due 7/15/32(a) | 118783 |
| 190000 | BB- | Miter Brands Acquisition Holdco Inc./MIWD Borrower LLC, Senior Secured Notes,<br>6.750% due 4/1/32(a) | 194214 |
| 25000 | BBB | Owens Corning, Senior Unsecured Notes, 4.400% due 1/30/48 | 20865 |
| 320000 | BB | Quikrete Holdings Inc., Senior Secured Notes, 6.375% due 3/1/32(a) | 332550 |
| 205000 | B+ | Smyrna Ready Mix Concrete LLC, Senior Secured Notes, 6.000% due 11/1/28(a) | 205635 |
|  |  | Standard Industries Inc., Senior Unsecured Notes: |  |
| 110000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/15/28(a) | 109786 |
| 335000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 7/15/30(a) | 325103 |
|  |  | Total Building Materials | 3186811 |
| **Chemicals - 0.3%** | **Chemicals - 0.3%** | **Chemicals - 0.3%** |  |
|  |  | Air Products & Chemicals Inc., Senior Unsecured Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 2/8/34 | 25551 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 5/15/40 | 19050 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 5/15/50 | 32769 |
| 25000 | BBB- | Albemarle Corp., Senior Unsecured Notes, 5.650% due 6/1/52 | 22719 |
| 190000 | BB+ | Axalta Coating Systems LLC, Company Guaranteed Notes, 3.375% due 2/15/29(a) | 183668 |
|  |  | Braskem Netherlands Finance BV, Company Guaranteed Notes: |  |
| 200000 | CCC- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 1/31/30(a) | 71382 |
| 625000 | CCC- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 2/13/33(a) | 228522 |
| 25000 | BBB | Cabot Corp., Senior Unsecured Notes, 5.000% due 6/30/32 | 25510 |
| 25000 | BBB | CF Industries Inc., Company Guaranteed Notes, 5.375% due 3/15/44 | 23870 |
|  |  | Chemours Co. (The), Company Guaranteed Notes: |  |
| 235000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 11/15/28(a) | 228260 |
| 455000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000% due 1/15/33(a) | 443058 |
|  |  | Dow Chemical Co. (The), Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 2/15/34 | 25014 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Chemicals - 0.3% - (continued)** | **Chemicals - 0.3% - (continued)** | **Chemicals - 0.3% - (continued)** |  |
| $25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 11/15/41 | $23020 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 10/1/44 | 20413 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 5/15/49 | 20214 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.900% due 5/15/53 | 26258 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 2/15/54 | 22365 |
|  |  | DuPont de Nemours Inc., Senior Unsecured Notes: |  |
| 32000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.319% due 11/15/38 | 32646 |
| 11000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.419% due 11/15/48 | 10490 |
|  |  | Eastman Chemical Co., Senior Unsecured Notes: |  |
| 176000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 12/1/28 | 177305 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 2/20/34 | 25845 |
|  |  | Ecolab Inc., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 12/1/47 | 20631 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 8/15/50 | 14156 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 12/15/51 | 15754 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 8/18/55 | 15401 |
| 25000 | A- | EIDP Inc., Senior Unsecured Notes, 4.800% due 5/15/33 | 25136 |
| 65000 | BB | Element Solutions Inc., Company Guaranteed Notes, 3.875% due 9/1/28(a) | 63706 |
| 25000 | BB+ | FMC Corp., Senior Unsecured Notes, 6.375% due 5/18/53 | 20217 |
| 200000 | BB- | INEOS Finance PLC, Senior Secured Notes, 7.500% due 4/15/29(a) | 179670 |
| 25000 | BBB- | International Flavors & Fragrances Inc., Senior Unsecured Notes, 4.375% due 6/1/47 | 20530 |
| 25000 | A | Linde Inc., Company Guaranteed Notes, 3.550% due 11/7/42 | 20428 |
| 25000 | BBB | LYB International Finance BV, Company Guaranteed Notes, 4.875% due 3/15/44 | 21045 |
|  |  | LYB International Finance III LLC, Company Guaranteed Notes: |  |
| 370000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/1/34 | 369408 |
| 645000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 1/15/36 | 647559 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 10/15/49 | 18342 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 5/1/50 | 36498 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 10/1/60 | 15956 |
| 25000 | BBB | Mosaic Co. (The), Senior Unsecured Notes, 5.625% due 11/15/43 | 24322 |
|  |  | NOVA Chemicals Corp.: |  |
| 150000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 8.500% due 11/15/28(a) | 157312 |
| 165000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 9.000% due 2/15/30(a) | 176746 |
|  |  | Nutrien Ltd., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 6/1/43 | 23092 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 4/1/49 | 22907 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 5/13/50 | 19521 |
| 400000 | BBB- | OCP SA, Senior Unsecured Notes, 5.125% due 6/23/51(a) | 332204 |
| 530000 | Ba1(b) | Orbia Advance Corp. SAB de CV, Company Guaranteed Notes, 7.500% due 5/13/35(a) | 521705 |
| 163000 | BBB | RPM International Inc., Senior Unsecured Notes, 3.750% due 3/15/27 | 162128 |
|  |  | Sherwin-Williams Co. (The), Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 8/15/49 | 19227 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 5/15/50 | 17388 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 3/15/52 | 15726 |
| 100000 | BB+ | Solstice Advanced Materials Inc., Senior Unsecured Notes, 5.625% due 9/30/33(a) | 100624 |
|  |  | Westlake Corp., Senior Unsecured Notes: |  |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 8/15/51 | 30877 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 8/15/61 | 15085 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Chemicals - 0.3% - (continued)** | **Chemicals - 0.3% - (continued)** | **Chemicals - 0.3% - (continued)** | **Chemicals - 0.3% - (continued)** |  |
|  |  |  | WR Grace Holdings LLC, Senior Secured Notes: |  |
| $125000 |  | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 6/15/27(a) | $124012 |
| 80000 |  | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 8/15/32(a) | 79487 |
|  |  |  | Total Chemicals | 5034729 |
| **Commercial Services - 0.5%** | **Commercial Services - 0.5%** | **Commercial Services - 0.5%** | **Commercial Services - 0.5%** |  |
| 185000 |  | BB | ADT Security Corp. (The), Senior Secured Notes, 4.875% due 7/15/32(a) | 179611 |
| 213000 |  | B+ | Avis Budget Car Rental LLC/Avis Budget Finance Inc., Company Guaranteed Notes, 5.750% due 7/15/27(a) | 212811 |
|  |  |  | Block Inc., Senior Unsecured Notes: |  |
| 300000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 5/15/32 | 313769 |
| 500000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 8/15/33(a) | 514258 |
| 200000 |  | BB | Boost Newco Borrower LLC, Senior Secured Notes, 7.500% due 1/15/31(a) | 212545 |
| 145000 |  | BB- | Clarivate Science Holdings Corp., Senior Secured Notes, 3.875% due 7/1/28(a) | 140531 |
| 25000 |  | BBB | Equifax Inc., Senior Unsecured Notes, 5.100% due 6/1/28 | 25522 |
|  |  |  | GEO Group Inc. (The): |  |
| 270000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 10.250% due 4/15/31 | 296476 |
| 400000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 8.625% due 4/15/29 | 422906 |
|  |  |  | Global Payments Inc., Senior Unsecured Notes: |  |
| 176000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 6/1/28 | 176420 |
| 44000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 8/15/29 | 41853 |
| 2025000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 11/15/30 | 2030803 |
| 100000 | <sup>EUR</sup> | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 3/17/31 | 121637 |
| 97000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 11/15/31 | 86865 |
| 140000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 11/15/35 | 139961 |
| 780000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 8/15/52(f) | 750335 |
|  |  |  | Herc Holdings Inc., Company Guaranteed Notes: |  |
| 185000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 7/15/27(a) | 185109 |
| 118000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 6/15/30(a) | 123963 |
|  |  |  | Moody's Corp., Senior Unsecured Notes: |  |
| 245000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/1/29 | 246509 |
| 42000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 8/19/31 | 37310 |
|  |  |  | PayPal Holdings Inc., Senior Unsecured Notes: |  |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.850% due 10/1/29 | 47899 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.300% due 6/1/30(f) | 46328 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 6/1/34 | 25840 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 6/1/50 | 17422 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 6/1/52 | 23276 |
| 155000 |  | BB | Prime Security Services Borrower LLC/Prime Finance Inc., Senior Secured Notes, 3.375% due 8/31/27(a) | 151500 |
| 285000 |  | BBB | Quanta Services Inc., Senior Unsecured Notes, 4.500% due 1/15/31 | 286444 |
| 118000 |  | A- | RELX Capital Inc., Company Guaranteed Notes, 4.000% due 3/18/29 | 117786 |
|  |  |  | S&P Global Inc., Company Guaranteed Notes: |  |
| 50000 |  | A3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 3/1/27 | 49117 |
| 230000 |  | A3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 12/1/49 | 166215 |
| 25000 |  | A3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 3/1/52 | 19330 |
| 25000 |  | A3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.300% due 8/15/60 | 13051 |
| 25000 |  | A3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 3/1/62 | 19144 |
| 220000 |  | BB | Service Corp. International, Senior Unsecured Notes, 5.125% due 6/1/29 | 221127 |
| 265000 |  | BB- | Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., Company Guaranteed Notes, 6.750% due 8/15/32(a) | 275862 |
| 200000 | <sup>EUR</sup> | BBB+ | Transurban Finance Co. Pty Ltd., Senior Secured Notes, (Cost - $226,368, acquired 3/6/24), 4.225% due 4/26/33(c) | 242282 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Commercial Services - 0.5% - (continued)** | **Commercial Services - 0.5% - (continued)** | **Commercial Services - 0.5% - (continued)** | **Commercial Services - 0.5% - (continued)** |  |
|  |  |  | United Rentals North America Inc., Company Guaranteed Notes: |  |
| $55000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 2/15/31 | $52624 |
| 130000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 1/15/32 | 122254 |
| 320000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 3/15/34(a) | 334608 |
| 670000 |  | B | Upbound Group Inc., Company Guaranteed Notes, 6.375% due 2/15/29(a) | 655015 |
| 25000 |  | BBB | Verisk Analytics Inc., Senior Unsecured Notes, 4.125% due 3/15/29 | 25045 |
| 185000 |  | B | Wand NewCo 3 Inc., Senior Secured Notes, 7.625% due 1/30/32(a) | 195101 |
| 135000 |  | BB- | Williams Scotsman Inc., Senior Secured Notes, 7.375% due 10/1/31(a) | 140722 |
| 200000 | <sup>EUR</sup> | BB | Worldline SA, Senior Unsecured Notes, (Cost - $209,904, acquired 12/3/24),<br>4.125% due 9/12/28(c) | 204136 |
|  |  |  | Total Commercial Services | 9711322 |
| **Computers - 0.3%** | **Computers - 0.3%** | **Computers - 0.3%** | **Computers - 0.3%** |  |
| 100000 |  | AA- | Accenture Capital Inc., Company Guaranteed Notes, 4.250% due 10/4/31 | 100274 |
| 405000 | <sup>EUR</sup> | BB- | Almaviva-The Italian Innovation Co. SpA, Senior Secured Notes, 5.000% due 10/30/30(a) | 472200 |
|  |  |  | Apple Inc., Senior Unsecured Notes: |  |
| 100000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 2/9/27 | 99579 |
| 100000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 5/12/28 | 100826 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.200% due 9/11/29 | 47258 |
| 100000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 5/10/33 | 102021 |
| 100000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 5/12/35(f) | 103216 |
| 25000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 2/23/36 | 25559 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 2/8/41 | 36446 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 5/4/43 | 43048 |
| 100000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 2/9/45 | 79764 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 5/13/45 | 45478 |
| 25000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 9/12/47 | 20239 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 5/11/50 | 32216 |
| 100000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 2/8/51 | 63942 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 8/5/51 | 32119 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 8/8/52 | 40596 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 2/8/61 | 30344 |
| 25000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.850% due 8/5/61 | 15297 |
| 50000 |  | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 8/8/62 | 40511 |
|  |  |  | Dell International LLC/EMC Corp.: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 4/1/32 | 103343 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 10/6/32 | 100296 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 2/15/36 | 99905 |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 12/15/51 | 34837 |
| 23000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 8.350% due 7/15/46 | 29707 |
| 88000 |  | BBB- | DXC Technology Co., Senior Unsecured Notes, 2.375% due 9/15/28 | 82823 |
|  |  |  | Hewlett Packard Enterprise Co., Senior Unsecured Notes: |  |
| 248000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 7/1/28 | 254903 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 10/15/34 | 24886 |
| 815000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 10/15/54 | 763461 |
|  |  |  | HP Inc., Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/15/28 | 25332 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 9/15/41 | 25725 |
| 120000 |  | BB+ | Insight Enterprises Inc., Company Guaranteed Notes, 6.625% due 5/15/32(a) | 122969 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Computers - 0.3% - (continued)** | **Computers - 0.3% - (continued)** | **Computers - 0.3% - (continued)** |  |
|  |  | International Business Machines Corp., Senior Unsecured Notes: |  |
| $100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 1/27/27 | $99334 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.700% due 5/15/27 | 97023 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 5/15/39 | 90562 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 6/20/42 | 85563 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 5/15/49 | 82763 |
|  |  | Kyndryl Holdings Inc., Senior Unsecured Notes: |  |
| 460000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.050% due 10/15/26 | 451022 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 10/15/28 | 23945 |
| 25000 | BBB | Leidos Inc., Company Guaranteed Notes, 2.300% due 2/15/31 | 22525 |
| 190000 | B+ | NCR Atleos Corp., Senior Secured Notes, 9.500% due 4/1/29(a) | 205510 |
| 245000 | B+ | NCR Voyix Corp., Company Guaranteed Notes, 5.000% due 10/1/28(a) | 243437 |
| 50000 | BB- | Science Applications International Corp., Company Guaranteed Notes, 5.875% due 11/1/33(a) | 49842 |
|  |  | Seagate Data Storage Technology Pte Ltd., Company Guaranteed Notes: |  |
| 120000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 7/15/29(a) | 104644 |
| 220000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250% due 12/15/29(a) | 233943 |
|  |  | Total Computers | 4989233 |
| **Cosmetics/Personal Care - 0.1%** | **Cosmetics/Personal Care - 0.1%** | **Cosmetics/Personal Care - 0.1%** |  |
| 585000 | BBB- | Coty Inc./HFC Prestige Products Inc./HFC Prestige International US LLC, Company Guaranteed Notes, 5.600% due 1/15/31(a) | 589328 |
| 125000 | BB- | Edgewell Personal Care Co., Company Guaranteed Notes, 5.500% due 6/1/28(a) | 124938 |
|  |  | Estee Lauder Cos Inc. (The), Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 3/15/47 | 20402 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 12/1/49 | 16847 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 5/15/53 | 23548 |
|  |  | Kenvue Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 540000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 3/22/33 | 553981 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 3/22/63 | 23142 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 5.050% due 3/22/53 | 46476 |
|  |  | Procter & Gamble Co. (The), Senior Unsecured Notes: |  |
| 100000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 1/26/28 | 100710 |
| 100000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 5/1/30 | 100677 |
| 25000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 3/25/50 | 19583 |
|  |  | Total Cosmetics/Personal Care | 1619632 |
| **Distribution/Wholesale - 0.0%@** | **Distribution/Wholesale - 0.0%@** | **Distribution/Wholesale - 0.0%@** |  |
| 110000 | BBB- | American Builders & Contractors Supply Co., Inc., Senior Secured Notes, 4.000% due 1/15/28(a) | 108920 |
| 80000 | BB- | RB Global Holdings Inc., Company Guaranteed Notes, 7.750% due 3/15/31(a) | 83947 |
| 110000 | BB | Resideo Funding Inc., Company Guaranteed Notes, 6.500% due 7/15/32(a) | 112751 |
|  |  | Total Distribution/Wholesale | 305618 |
| **Diversified Financial Services - 1.1%** | **Diversified Financial Services - 1.1%** | **Diversified Financial Services - 1.1%** |  |
|  |  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Company Guaranteed Notes: |  |
| 1800000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 10/29/26 | 1773126 |
| 150000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.450% due 4/15/27 | 154321 |
| 340000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 10/29/28 | 329235 |
| 150000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 11/15/30 | 149847 |
| 150000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 10/29/33 | 136222 |
| 655000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950% (5-Year CMT Index + 2.720%) due 3/10/55(d) | 687322 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Diversified Financial Services - 1.1% - (continued)** | **Diversified Financial Services - 1.1% - (continued)** | **Diversified Financial Services - 1.1% - (continued)** |  |
|  |  | Air Lease Corp., Senior Unsecured Notes: |  |
| $50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.200% due 1/15/27 | $48862 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 12/15/27 | 25735 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 2/1/28 | 50899 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 9/1/28 | 47039 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 2/1/30 | 23408 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 12/1/30 | 23215 |
| 745000 | BBB | Aircastle Ltd., Company Guaranteed Notes, 5.950% due 2/15/29(a) | 778128 |
| 720000 | BBB | Aircastle Ltd./Aircastle Ireland DAC, Company Guaranteed Notes, 5.250% due 3/15/30(a) | 737354 |
|  |  | Ally Financial Inc.: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 6.184% (SOFR + 2.290%) due 7/26/35(d) | 25920 |
| 95000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 6.700% due 2/14/33 | 99520 |
|  |  | American Express Co., Senior Unsecured Notes: |  |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 3/4/27 | 98392 |
| 220000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 5/3/29 | 221522 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.085% (SOFR + 1.020%) due 1/30/31(d) | 103446 |
| 345000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.016% (SOFR + 1.440%) due 4/25/31(d) | 356639 |
| 380000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.918% (SOFR + 1.220%) due 7/20/33(d) | 389388 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.043% (SOFR + 1.835%) due 5/1/34(d) | 103287 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.442% (SOFR + 1.320%) due 1/30/36(d) | 104620 |
| 110000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.667% (SOFR + 1.790%) due 4/25/36(d) | 116825 |
| 2060000 | A- | &nbsp;&nbsp;&nbsp;&nbsp; 4.804% (SOFR + 1.237%) due 10/24/36(d) | 2050472 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 12/3/42 | 86997 |
| 1005000 | BBB+ | Ares Finance Co. II LLC, Company Guaranteed Notes, 3.250% due 6/15/30(a) | 954533 |
|  |  | Avolon Holdings Funding Ltd.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 419000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.528% due 11/18/27(a) | 405593 |
| 500000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/1/29(a) | 518382 |
| 2960000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 1/15/30(a) | 3014680 |
| 500000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 2.750% due 2/21/28(a) | 483171 |
| 400000 | A- | Brookfield Asset Management Ltd., Senior Unsecured Notes, 6.077% due 9/15/55 | 412755 |
|  |  | Capital One Financial Corp.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 2/9/27 | 49971 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 3/9/27 | 99589 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.817% (SOFR + 2.600%) due 2/1/34(d) | 52656 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.377% (SOFR + 2.860%) due 6/8/34(d) | 54360 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.197% (SOFR + 1.630%) due 9/11/36(d) | 99861 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes: |  |
| 27000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.359% (SOFR + 1.337%) due 7/29/32(d) | 23605 |
| 10000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.183% (SOFR + 2.036%) due 1/30/36(d) | 10494 |
|  |  | Charles Schwab Corp. (The), Senior Unsecured Notes: |  |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 3/3/27 | 49087 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 4/1/27 | 24807 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 3/20/28 | 48027 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 2/1/29 | 25105 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.643% (SOFR + 2.210%) due 5/19/29(d) | 51942 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.196% (SOFR + 1.878%) due 11/17/29(d) | 53055 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 3/3/32 | 22983 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Diversified Financial Services - 1.1% - (continued)** | **Diversified Financial Services - 1.1% - (continued)** | **Diversified Financial Services - 1.1% - (continued)** |  |
| $390000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.914% (SOFR + 1.230%) due 11/14/36(d) | $390859 |
| 1000000 | BBB- | Citadel Finance LLC, Company Guaranteed Notes, 5.900% due 2/10/30(a) | 1017268 |
| 559000 | A+ | Credit Suisse USA LLC, Company Guaranteed Notes, 7.125% due 7/15/32 | 643845 |
| 1650000 | A+ | Equitable America Global Funding, Secured Notes, 4.950% due 6/9/30(a) | 1685513 |
|  |  | Intercontinental Exchange Inc., Senior Unsecured Notes: |  |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 9/15/27 | 50071 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 6/15/29 | 50547 |
| 13000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 6/15/30 | 11927 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 9/15/40 | 18858 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 9/21/48 | 20999 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 6/15/50 | 33352 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 6/15/52 | 46655 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 9/15/60 | 30735 |
|  |  | Jefferies Financial Group Inc., Senior Unsecured Notes: |  |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 1/15/27 | 50297 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 7/21/28 | 51873 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 1/23/30 | 49174 |
| 650000 | NR | Lehman Brothers Holdings Inc., Subordinated Notes, 6.750% due 12/28/17\*(g)(h)# |  |
|  |  | Mastercard Inc., Senior Unsecured Notes: |  |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 6/1/49 | 19533 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 3/26/50 | 40235 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 3/15/51 | 16803 |
| 232000 | BBB+ | Nasdaq Inc., Senior Unsecured Notes, 5.550% due 2/15/34 | 245263 |
| 200000 | BBB+ | Nomura Holdings Inc., Senior Unsecured Notes, 6.070% due 7/12/28 | 209076 |
| 275000 | BB | OneMain Finance Corp., Company Guaranteed Notes, 6.625% due 5/15/29 | 284906 |
| 90000 | BB | PRA Group Inc., Company Guaranteed Notes, 5.000% due 10/1/29(a)(f) | 83301 |
| 25000 | BBB- | Radian Group Inc., Senior Unsecured Notes, 4.875% due 3/15/27 | 25082 |
| 305000 | BB | Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer Inc., Company Guaranteed Notes, 3.625% due 3/1/29(a) | 294829 |
| 95000 | Ba3(b) | United Wholesale Mortgage LLC, Senior Unsecured Notes, 5.500% due 4/15/29(a) | 94103 |
|  |  | Visa Inc., Senior Unsecured Notes: |  |
| 25000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 4/15/40 | 19461 |
| 25000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 9/15/47 | 19937 |
| 50000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 8/15/50 | 27729 |
|  |  | Total Diversified Financial Services | 20708628 |
| **Electric - 2.7%** | **Electric - 2.7%** | **Electric - 2.7%** |  |
|  |  | AEP Texas Inc., Senior Unsecured Notes: |  |
| 43000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 6/1/33 | 44674 |
| 82000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 1/15/50 | 57231 |
| 41000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 5/15/51 | 28408 |
|  |  | AEP Transmission Co. LLC, Senior Unsecured Notes: |  |
| 70000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 12/1/47 | 54739 |
| 59000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150% due 9/15/49 | 41007 |
| 45000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 8/15/51 | 28361 |
| 40000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 6/15/52 | 34813 |
| 80000 | BB | AES Corp. (The), Junior Subordinated Notes, 7.600%<br>(5-Year CMT Index + 3.201%) due 1/15/55(d) | 81692 |
|  |  | Alabama Power Co., Senior Unsecured Notes: |  |
| 64000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 12/1/47 | 49811 |
| 60000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 10/1/49 | 43973 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** |  |
| $116000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 7/15/51 | $78481 |
| 111000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 3/15/52 | 73597 |
|  |  | Ameren Illinois Co., 1st Mortgage Notes: |  |
| 43000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 3/15/50 | 30442 |
| 95000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 6/15/51 | 62095 |
| 170000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 7/1/54 | 171875 |
| 150000 | A- | American Transmission Systems Inc., Senior Unsecured Notes, 2.650% due 1/15/32(a) | 135883 |
|  |  | Arizona Public Service Co., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 8/1/33 | 26308 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 5/15/50 | 17638 |
|  |  | Baltimore Gas & Electric Co., Senior Unsecured Notes: |  |
| 964000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 6/1/35 | 1008697 |
| 6000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 8/15/46 | 4524 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 8/15/47 | 39534 |
| 80000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 9/15/49 | 55882 |
| 67000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 6/15/50 | 44092 |
| 54000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 6/1/52 | 46737 |
| 65000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 6/1/53 | 63828 |
| 555000 | A | Basin Electric Power Cooperative, 1st Mortgage Notes, 5.850% due 10/15/55(a) | 556670 |
| 25000 | A- | Berkshire Hathaway Energy Co., Senior Unsecured Notes, 6.125% due 4/1/36 | 27325 |
|  |  | Calpine Corp., Senior Unsecured Notes: |  |
| 310000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 3/15/28(a) | 311748 |
| 350000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 2/1/29(a) | 347645 |
|  |  | CenterPoint Energy Houston Electric LLC: |  |
| 118000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1st Mortgage Notes, 3.600% due 3/1/52 | 88575 |
| 129000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Refinance Mortgage, 4.450% due 10/1/32 | 129280 |
|  |  | Comision Federal de Electricidad, Company Guaranteed Notes: |  |
| 1500000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.348% due 2/9/31(a) | 1352958 |
| 1000000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 7/26/33(a) | 882190 |
|  |  | Commonwealth Edison Co., 1st Mortgage Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 3/15/36 | 27258 |
| 71000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 6/1/55 | 75477 |
|  |  | Consolidated Edison Co. of New York Inc., Senior Unsecured Notes: |  |
| 40000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 4/1/50 | 32037 |
| 134000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 11/15/53 | 140126 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 5/15/54 | 101997 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 12/1/54 | 21621 |
| 174000 | BBB+ | Constellation Energy Generation LLC, Senior Unsecured Notes, 5.600% due 6/15/42 | 177040 |
|  |  | Consumers Energy Co., 1st Mortgage Notes: |  |
| 56000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 8/1/51 | 41786 |
| 53000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 8/15/52 | 34123 |
| 113000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 9/1/52 | 93692 |
|  |  | Dominion Energy Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes: |  |
| 1600000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% (5-Year CMT Index + 2.207%) due 5/15/55(d) | 1662576 |
| 193000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% (5-Year CMT Index + 2.262%) due 2/15/56(d) | 195363 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 4.250% due 6/1/28 | 100289 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** |  |
|  |  |  | Dominion Energy South Carolina Inc., 1st Mortgage Notes: |  |
| $50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 1/15/35 | $52303 |
| 83000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 10/15/53 | 91970 |
|  |  |  | DTE Electric Co., General Refinance Mortgage: |  |
| 350000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 3/1/34 | 364481 |
| 180000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 4/1/51 | 128085 |
|  |  |  | Duke Energy Carolinas LLC, 1st Mortgage Notes: |  |
| 104000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 11/15/28 | 104311 |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 1/15/33 | 103596 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.050% due 4/15/38 | 27440 |
| 500000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 12/15/41 | 447145 |
| 105000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 8/15/49 | 73012 |
| 80000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.550% due 3/15/52 | 59195 |
| 202000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 1/15/53 | 197884 |
|  |  |  | Duke Energy Corp., Senior Unsecured Notes: |  |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 1/5/27 | 50411 |
| 700000 | <sup>EUR</sup> | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 6/15/28 | 819299 |
|  |  |  | Duke Energy Florida LLC, 1st Mortgage Notes: |  |
| 145000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 12/1/29 | 137093 |
| 133000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 6/15/30 | 120107 |
| 495000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 12/1/35 | 497822 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.400% due 6/15/38 | 28322 |
| 24000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 7/15/48 | 19967 |
| 26000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 11/15/52 | 27457 |
| 350000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 11/15/53 | 384280 |
|  |  |  | Duke Energy Indiana LLC, 1st Mortgage Notes: |  |
| 380000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 4/1/50 | 241759 |
| 500000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 4/1/53 | 488154 |
|  |  |  | Duke Energy Ohio Inc., 1st Mortgage Notes: |  |
| 529000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 2/1/29 | 524850 |
| 20000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 4/1/53 | 20200 |
|  |  |  | Duke Energy Progress LLC, 1st Mortgage Notes: |  |
| 130000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 3/15/29 | 128094 |
| 43000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/15/33 | 45117 |
| 81000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 12/1/44 | 68940 |
| 67000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 8/15/51 | 43353 |
|  |  |  | Edison International: |  |
| 390000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 8.125% (5-Year CMT Index + 3.864%) due 6/15/53(d)(f) | 403156 |
| 180000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 6.950% due 11/15/29 | 191803 |
| 781000 |  | BB+ | Emera Inc., Junior Subordinated Notes, 6.750%<br>(3-Month USD-LIBOR + 5.440%) due 6/15/76(d) | 787390 |
| 770000 |  | BBB- | Emera US Finance LP, Company Guaranteed Notes, 2.639% due 6/15/31 | 693004 |
|  |  |  | Enel Finance International NV, Company Guaranteed Notes: |  |
| 450000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 9/30/35(a) | 449224 |
| 310000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 9/30/55(a) | 305829 |
|  |  |  | Entergy Arkansas LLC, 1st Mortgage Notes: |  |
| 87000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 6/15/52 | 60729 |
| 350000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 6/1/54 | 362647 |
|  |  |  | Entergy Corp., Junior Subordinated Notes: |  |
| 486000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125% (5-Year CMT Index + 2.670%) due 12/1/54(d) | 511629 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** |  |
| $30000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% (5-Year CMT Index + 2.179%) due 6/15/56(d) | $29980 |
|  |  |  | Entergy Louisiana LLC: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1st Mortgage Notes: |  |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 9/15/34 | 25765 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 3/15/51 | 16167 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp; Collateral Trust, 4.200% due 9/1/48 | 20651 |
|  |  |  | Entergy Mississippi LLC, 1st Mortgage Notes: |  |
| 370000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 9/1/33 | 378598 |
| 525000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 4/15/55 | 540754 |
|  |  |  | Entergy Texas Inc., 1st Mortgage Notes: |  |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 4/15/35 | 51740 |
| 565000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 9/15/54 | 559761 |
| 200000 | <sup>EUR</sup> | A | ESB Finance DAC, Company Guaranteed Notes, (Cost - $222,761, acquired 3/6/24), 4.000% due 10/3/28(c) | 239939 |
| 855000 |  | BB+ | EUSHI Finance Inc., Company Guaranteed Notes, 7.625%<br>(5-Year CMT Index + 3.136%) due 12/15/54(d) | 905034 |
| 725000 |  | BBB- | Evergy Inc., Junior Subordinated Notes, 6.650%<br>(5-Year CMT Index + 2.558%) due 6/1/55(d) | 741969 |
| 128000 |  | BBB | Eversource Energy, Senior Unsecured Notes, 5.450% due 3/1/28 | 131129 |
| 198101 |  | BBB | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, Senior Secured Notes, 7.250% due 1/31/41 | 207396 |
|  |  |  | FirstEnergy Corp., Senior Unsecured Notes: |  |
| 470000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 7/15/27 | 467652 |
| 240000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 7/15/47 | 213992 |
|  |  |  | Florida Power & Light Co., 1st Mortgage Notes: |  |
| 25000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 2/1/37 | 26945 |
| 251000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 3/1/48 | 205608 |
| 122000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 12/4/51 | 79596 |
|  |  |  | Georgia Power Co., Senior Unsecured Notes: |  |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.004% due 2/23/27 | 50654 |
| 278000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 5/17/33 | 285019 |
| 430000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/15/34 | 446577 |
| 500000 |  | BBB+ | Interstate Power & Light Co., Senior Unsecured Notes, 5.600% due 6/29/35 | 524424 |
| 1365000 |  | BBB+ | ITC Holdings Corp., Senior Unsecured Notes, 5.650% due 5/9/34(a)(f) | 1434348 |
|  |  |  | MidAmerican Energy Co., 1st Mortgage Notes: |  |
| 47000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 5/1/27 | 46532 |
| 141000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 9/15/54 | 147844 |
| 167000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 2/1/55 | 161637 |
| 100000 |  | A- | National Rural Utilities Cooperative Finance Corp., Senior Unsecured Notes,<br>4.850% due 2/7/29 | 102521 |
|  |  |  | NextEra Energy Capital Holdings Inc., Company Guaranteed Notes: |  |
| 250000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 1/15/27 | 244055 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 6/1/30 | 46007 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 2/28/33 | 51400 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/15/34 | 51572 |
| 160000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% (5-Year CMT Index + 1.979%) due 8/15/55(d) | 169414 |
| 800000 |  | BBB+ | Niagara Mohawk Power Corp., Senior Unsecured Notes, 5.996% due 7/3/55(a) | 826899 |
|  |  |  | Northern States Power Co., 1st Mortgage Notes: |  |
| 211000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 3/1/50 | 142390 |
| 136000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.600% due 6/1/51 | 85234 |
| 62000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 5/15/53 | 58774 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** |  |
|  |  | NRG Energy Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| $205000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 1/15/28 | $205697 |
| 380000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 6/15/29(a) | 381839 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes: |  |
| 80000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.734% due 10/15/30(a) | 79902 |
| 977000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.407% due 10/15/35(a) | 978867 |
|  |  | Ohio Power Co., Senior Unsecured Notes: |  |
| 113000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.600% due 4/1/30 | 105553 |
| 89000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 6/1/33 | 90928 |
| 66000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 6/1/49 | 51968 |
| 438000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 10/1/51 | 275994 |
|  |  | Oncor Electric Delivery Co. LLC: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp; 1st Mortgage Notes, 2.700% due 11/15/51 | 15328 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes: |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 9/15/32 | 50248 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 11/15/33 | 53540 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 9/15/52 | 45731 |
|  |  | Pacific Gas & Electric Co., 1st Mortgage Notes: |  |
| 500000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 6/15/27 | 507509 |
| 124000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 6/4/28 | 126072 |
| 2090000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 7/1/30 | 2083736 |
| 89000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 2/1/31 | 80112 |
| 1020000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 10/15/32 | 1027303 |
| 136000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.150% due 1/15/33 | 145093 |
| 179000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.400% due 6/15/33 | 194350 |
| 111000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950% due 3/15/34 | 124338 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 7/1/40 | 87985 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 8/1/40 | 38311 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 7/1/50 | 43208 |
| 90000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 8/1/50 | 62031 |
| 28000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 1/15/53 | 30425 |
| 55000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.700% due 4/1/53 | 59238 |
|  |  | PacifiCorp, 1st Mortgage Notes: |  |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 2/15/34 | 51113 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 4/1/37 | 25754 |
|  |  | PECO Energy Co., 1st Mortgage Notes: |  |
| 46000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 3/15/51 | 30749 |
| 74000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 5/15/52 | 65076 |
| 91000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 8/15/52 | 76853 |
|  |  | PG&E Corp.: |  |
| 1435000 | B | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 7.375% (5-Year CMT Index + 3.883%) due 3/15/55(d) | 1485066 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes: |  |
| 145000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 7/1/28 | 144033 |
| 180000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 7/1/30 | 178408 |
| 100000 | AAA | PG&E Recovery Funding LLC, Senior Secured Notes, 5.231% due 6/1/42 | 103315 |
|  |  | PPL Electric Utilities Corp., 1st Mortgage Notes: |  |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 5/15/33 | 25871 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 2/15/34 | 25591 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 5/15/53 | 24567 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** |  |
| $860000 | BBB | PSEG Power LLC, Senior Unsecured Notes, 5.750% due 5/15/35(a) | $903086 |
| 270000 | A | Public Service Co. of Colorado, 1st Mortgage Notes, 2.700% due 1/15/51 | 167241 |
| 102000 | A | Public Service Co. of New Hampshire, 1st Mortgage Notes, 5.150% due 1/15/53 | 96740 |
|  |  | Public Service Electric & Gas Co., 1st Mortgage Notes: |  |
| 199000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 5/15/29 | 194254 |
| 185000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 12/15/32 | 190428 |
| 350000 | A- | Puget Sound Energy Inc., Senior Secured Notes, 5.685% due 6/15/54 | 356272 |
| 200000 | Ba2(b) | Saavi Energia Sarl, Senior Unsecured Notes, 8.875% due 2/10/35 | 215126 |
|  |  | San Diego Gas & Electric Co., 1st Mortgage Notes: |  |
| 370000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.320% due 4/15/50 | 260913 |
| 120000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 4/1/53 | 115537 |
|  |  | Sempra: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes: |  |
| 905000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% (5-Year CMT Index + 2.354%) due 4/1/55(d) | 915694 |
| 61000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% (5-Year CMT Index + 2.632%) due 4/1/56(d) | 62177 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 3.800% due 2/1/38 | 21655 |
|  |  | Southern California Edison Co.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1st Mortgage Notes: |  |
| 310000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 3/1/28 | 316209 |
| 208000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 10/1/28 | 215354 |
| 199000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 11/1/32 | 211589 |
| 619000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 6/1/34 | 625092 |
| 660000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 3/1/35 | 674519 |
| 60000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 6/1/51 | 42192 |
| 30000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 12/1/53 | 29414 |
| 850000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 4/15/54 | 817833 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp; 1st Refinanced Mortgage Notes, 5.950% due 2/1/38 | 25798 |
| 550000 | A- | Southwestern Public Service Co., 1st Mortgage Notes, 6.000% due 6/1/54 | 573669 |
| 50000 | BBB+ | System Energy Resources Inc., 1st Refinanced Mortgage Notes, 5.300% due 12/15/34 | 50846 |
|  |  | Union Electric Co., 1st Mortgage Notes: |  |
| 350000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 4/1/34 | 362945 |
| 51000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 3/15/53 | 50131 |
|  |  | Virginia Electric & Power Co., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 5/15/37 | 27188 |
| 52000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 11/15/51 | 33549 |
| 126000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 8/15/53 | 127100 |
| 15000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 1/15/54 | 14418 |
|  |  | Vistra Operations Co. LLC: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 1390000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 7/31/27(a) | 1395320 |
| 115000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 10/15/31(a) | 122224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes: |  |
| 117000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 1/30/27(a) | 116214 |
| 451000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 10/15/28(a) | 450125 |
| 871000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 10/15/30(a) | 869690 |
| 710000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 4/15/34(a) | 751109 |
|  |  | Wisconsin Power & Light Co., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 3/30/34 | 26003 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** | **Electric - 2.7% - (continued)** |  |
| $25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 4/1/50 | $18602 |
|  |  |  | Total Electric | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48130091 |
| **Electrical Components & Equipment - 0.0%@** | **Electrical Components & Equipment - 0.0%@** | **Electrical Components & Equipment - 0.0%@** | **Electrical Components & Equipment - 0.0%@** |  |
|  |  |  | Emerson Electric Co., Senior Unsecured Notes: |  |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 10/15/50 | 16404 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 12/21/51 | 16327 |
| 120000 |  | B | Energizer Holdings Inc., Company Guaranteed Notes, 4.750% due 6/15/28(a) | 118646 |
| 85000 |  | BB+ | EnerSys, Company Guaranteed Notes, 6.625% due 1/15/32(a) | 88440 |
| 330000 |  | BB | WESCO Distribution Inc., Company Guaranteed Notes, 6.625% due 3/15/32(a) | 346546 |
|  |  |  | Total Electrical Components & Equipment | 586363 |
| **Electronics - 0.1%** | **Electronics - 0.1%** | **Electronics - 0.1%** | **Electronics - 0.1%** |  |
| 144000 |  | A- | Amphenol Corp., Senior Unsecured Notes, 5.300% due 11/15/55 | 140380 |
| 140000 |  | B+ | Coherent Corp., Company Guaranteed Notes, 5.000% due 12/15/29(a) | 138892 |
|  |  |  | Honeywell International Inc., Senior Unsecured Notes: |  |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.100% due 3/1/27 | 96661 |
| 220000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/1/35 | 225924 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.812% due 11/21/47 | 20059 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 6/1/50 | 33286 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/1/54 | 24232 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 3/1/64 | 24402 |
| 210000 |  | BB | Imola Merger Corp., Senior Secured Notes, 4.750% due 5/15/29(a) | 207606 |
|  |  |  | Sensata Technologies Inc., Company Guaranteed Notes: |  |
| 205000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 2/15/30(a) | 200377 |
| 80000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 2/15/31(a) | 74921 |
|  |  |  | Total Electronics | 1186740 |
| **Energy - Alternate Sources - 0.0%@** | **Energy - Alternate Sources - 0.0%@** | **Energy - Alternate Sources - 0.0%@** | **Energy - Alternate Sources - 0.0%@** |  |
| 200000 |  | Ba3(b) | FS Luxembourg Sarl, Company Guaranteed Notes, 8.625% due 6/25/33(a) | 205168 |
| 85000 |  | BB- | TerraForm Power Operating LLC, Company Guaranteed Notes,<br>4.750% due 1/15/30(a) | 81777 |
|  |  |  | Total Energy - Alternate Sources | 286945 |
| **Engineering & Construction - 0.0%@** | **Engineering & Construction - 0.0%@** | **Engineering & Construction - 0.0%@** | **Engineering & Construction - 0.0%@** |  |
| 105000 |  | BB | AECOM, Company Guaranteed Notes, 6.000% due 8/1/33(a) | 108015 |
| 290000 |  | BBB- | CIMIC Finance USA Pty Ltd., Company Guaranteed Notes, 7.000% due 3/25/34(a) | 318149 |
| 120000 |  | BB+ | Dycom Industries Inc., Company Guaranteed Notes, 4.500% due 4/15/29(a) | 118498 |
| 220000 |  | BB | Global Infrastructure Solutions Inc., Company Guaranteed Notes,<br>5.625% due 6/1/29(a) | 221499 |
|  |  |  | Total Engineering & Construction | 766161 |
| **Entertainment - 0.2%** | **Entertainment - 0.2%** | **Entertainment - 0.2%** | **Entertainment - 0.2%** |  |
| 120000 |  | B | Boyne USA Inc., Senior Unsecured Notes, 4.750% due 5/15/29(a) | 118538 |
|  |  |  | Caesars Entertainment Inc., Senior Secured Notes: |  |
| 100000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 2/15/30(a) | 103586 |
| 290000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 2/15/32(a) | 295168 |
| 70000 |  | BB | Cinemark USA Inc., Company Guaranteed Notes, 5.250% due 7/15/28(a) | 69877 |
| 330000 |  | BB- | Live Nation Entertainment Inc., Company Guaranteed Notes, 4.750% due 10/15/27(a) | 329711 |
| 400000 | <sup>EUR</sup> | B- | Motion Finco Sarl, Senior Secured Notes, (Cost - $441,229, acquired 3/21/25), 7.375% due 6/15/30(c) | 417674 |
| 50000 |  | B+ | Six Flags Entertainment Corp., Company Guaranteed Notes, 7.250% due 5/15/31(a) | 47713 |
| 295000 |  | B+ | Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp., Company Guaranteed Notes, 5.250% due 7/15/29 | 273850 |
| 700000 | <sup>EUR</sup> | BBB+ | Universal Music Group NV, Senior Unsecured Notes, (Cost - $780,944, acquired 12/3/24), 4.000% due 6/13/31(c) | 842594 |
| 180000 |  | BB- | Vail Resorts Inc., Company Guaranteed Notes, 6.500% due 5/15/32(a) | 187233 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |
| **Entertainment - 0.2% - (continued)** | **Entertainment - 0.2% - (continued)** | **Entertainment - 0.2% - (continued)** | **Entertainment - 0.2% - (continued)** | **Entertainment - 0.2% - (continued)** |
|  |  |  | Warnermedia Holdings Inc., Company Guaranteed Notes: |  |
| $270000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.279% due 3/15/32 | $247050 |
| 25000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 3/15/42 | 20020 |
| 340000 |  | BB- | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Company Guaranteed Notes, 7.125% due 2/15/31(a) | 367562 |
|  |  |  | Total Entertainment | 3320576 |
| **Environmental Control - 0.1%** | **Environmental Control - 0.1%** | **Environmental Control - 0.1%** | **Environmental Control - 0.1%** |  |
| 305000 |  | BB | GFL Environmental Inc., Company Guaranteed Notes, 6.750% due 1/15/31(a) | 320577 |
|  |  |  | Republic Services Inc., Senior Unsecured Notes: |  |
| 66000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 11/15/27 | 65478 |
| 260000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 4/1/29 | 267365 |
|  |  |  | Waste Connections Inc., Senior Unsecured Notes: |  |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 4/1/50 | 17027 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 1/15/52 | 16564 |
|  |  |  | Waste Management Inc., Company Guaranteed Notes: |  |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 1/15/29 | 99944 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 3/15/35 | 102525 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 6/1/41 | 38587 |
| 315000 |  | BB | Wrangler Holdco Corp., Company Guaranteed Notes, 6.625% due 4/1/32(a) | 331250 |
|  |  |  | Total Environmental Control | 1259317 |
| **Food - 0.6%** | **Food - 0.6%** | **Food - 0.6%** | **Food - 0.6%** |  |
|  |  |  | Albertsons Cos Inc./Safeway Inc./New Albertsons LP/Albertsons LLC, Company Guaranteed Notes: |  |
| 500000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 2/15/28(a) | 501323 |
| 35000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/31/34(a) | 35326 |
| 400000 | <sup>EUR</sup> | B | Flora Food Management BV, Senior Secured Notes, (Cost - $445,166, acquired 3/21/25), 6.875% due 7/2/29(c) | 458754 |
|  |  |  | General Mills Inc., Senior Unsecured Notes: |  |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 2/10/27 | 49532 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 2/1/51 | 16601 |
| 200000 |  | Baa3(b) | Grupo Nutresa SA, Company Guaranteed Notes, 9.000% due 5/12/35(a) | 226400 |
| 597000 | <sup>GBP</sup> | B | Iceland Bondsco PLC, Senior Secured Notes, (Cost - $794,419, acquired 5/29/24), 10.875% due 12/15/27(c) | 839097 |
|  |  |  | J.M. Smucker Co. (The), Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 3/15/35 | 23773 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 11/15/53 | 27520 |
|  |  |  | JBS USA Holding Lux Sarl/JBS USA Food Co./JBS Lux Co. Sarl, Company Guaranteed Notes: |  |
| 370000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 1/15/32 | 347135 |
| 50000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 2/2/52 | 39439 |
| 50000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 12/1/52 | 52296 |
|  |  |  | JBS USA Holding Lux Sarl/JBS USA Foods Group Holdings Inc./JBS USA Food Co., Company Guaranteed Notes: |  |
| 750000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/15/36(a) | 768171 |
| 80000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% due 4/15/66(a) | 81605 |
|  |  |  | Kraft Heinz Foods Co., Company Guaranteed Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 1/26/39 | 28156 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 2/9/40 | 27300 |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 7/15/45 | 46677 |
| 75000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 6/1/46 | 63054 |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 10/1/49 | 43954 |
|  |  |  | Kroger Co. (The), Senior Unsecured Notes: |  |
| 290000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 9/15/34 | 294756 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 10/15/46 | 19749 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 2/1/47 | 21480 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Food - 0.6% - (continued)** | **Food - 0.6% - (continued)** | **Food - 0.6% - (continued)** | **Food - 0.6% - (continued)** |  |
| $25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 1/15/49 | $24362 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 1/15/50 | 19476 |
| 850000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 9/15/54 | 829493 |
| 75000 |  | BB+ | Lamb Weston Holdings Inc., Company Guaranteed Notes, 4.125% due 1/31/30(a) | 72840 |
|  |  |  | Mars Inc.: |  |
| 230000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 3.200% due 4/1/30(a) | 222662 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 70000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/1/32(a) | 72380 |
| 2210000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 3/1/35(a) | 2287324 |
| 1845000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 5/1/55(a) | 1882026 |
| 175000 |  | BB | Performance Food Group Inc., Company Guaranteed Notes, 5.500% due 10/15/27(a) | 175174 |
| 235000 |  | BB | Post Holdings Inc., Senior Secured Notes, 6.250% due 2/15/32(a) | 242947 |
|  |  |  | Sysco Corp., Company Guaranteed Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 4/1/30 | 26525 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 3/15/48 | 21650 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150% due 12/14/51 | 16935 |
| 25000 |  | BBB | Tyson Foods Inc., Senior Unsecured Notes, 5.100% due 9/28/48 | 23223 |
|  |  |  | Total Food | 9929115 |
| **Forest Products & Paper - 0.0%@** | **Forest Products & Paper - 0.0%@** | **Forest Products & Paper - 0.0%@** | **Forest Products & Paper - 0.0%@** |  |
|  |  |  | International Paper Co., Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 11/15/41 | 26114 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 6/15/44 | 22529 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 8/15/48 | 20604 |
| 50000 |  | BBB- | Suzano Austria GmbH, Company Guaranteed Notes, 3.750% due 1/15/31 | 47256 |
|  |  |  | Total Forest Products & Paper | 116503 |
| **Gas - 0.2%** | **Gas - 0.2%** | **Gas - 0.2%** | **Gas - 0.2%** |  |
| 1000000 | <sup>EUR</sup> | BBB | APA Infrastructure Ltd., (Cost - $999,214, acquired 5/31/24), Company Guaranteed Notes, 2.000% due 7/15/30(c) | 1106291 |
| 92000 |  | A- | Atmos Energy Corp., Senior Unsecured Notes, 4.125% due 10/15/44 | 79254 |
| 790000 |  | BBB+ | Brooklyn Union Gas Co. (The), Senior Unsecured Notes, 6.388% due 9/15/33(a) | 858851 |
|  |  |  | CenterPoint Energy Resources Corp., Senior Unsecured Notes: |  |
| 108000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/1/28 | 110811 |
| 52000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 10/1/30 | 46401 |
| 25000 |  | BBB- | National Fuel Gas Co., Senior Unsecured Notes, 5.500% due 3/15/30 | 25902 |
|  |  |  | NiSource Inc., Senior Unsecured Notes: |  |
| 75000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.490% due 5/15/27 | 74486 |
| 61000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/30/28 | 62596 |
| 153000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 5/1/30 | 148932 |
|  |  |  | Piedmont Natural Gas Co., Inc., Senior Unsecured Notes: |  |
| 90000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 6/1/29 | 88420 |
| 96000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 3/15/31 | 87477 |
| 109000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 6/1/50 | 77156 |
| 55000 |  | BBB+ | Southwest Gas Corp., Senior Unsecured Notes, 5.450% due 3/23/28 | 56541 |
| 75000 |  | A | Spire Missouri Inc., 1st Mortgage Notes, 4.800% due 2/15/33 | 76116 |
|  |  |  | Total Gas | 2899234 |
| **Healthcare - Products - 0.2%** | **Healthcare - Products - 0.2%** | **Healthcare - Products - 0.2%** | **Healthcare - Products - 0.2%** |  |
|  |  |  | Abbott Laboratories, Senior Unsecured Notes: |  |
| 50000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 11/30/36 | 50858 |
| 75000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 11/30/46 | 71802 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Healthcare - Products - 0.2% - (continued)** | **Healthcare - Products - 0.2% - (continued)** | **Healthcare - Products - 0.2% - (continued)** |  |
| $60000 | BBB+ | Agilent Technologies Inc., Senior Unsecured Notes, 2.300% due 3/12/31 | $54381 |
| 160000 | BB | Avantor Funding Inc., Company Guaranteed Notes, 4.625% due 7/15/28(a) | 158617 |
| 22000 | B | Bausch + Lomb Corp., Senior Secured Notes, 8.375% due 10/1/28(a) | 22963 |
|  |  | Baxter International Inc., Senior Unsecured Notes: |  |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.915% due 2/1/27 | 48722 |
| 755000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 12/15/35 | 769758 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.132% due 12/1/51 | 16104 |
| 25000 | A- | Boston Scientific Corp., Senior Unsecured Notes, 4.700% due 3/1/49 | 22954 |
|  |  | Danaher Corp., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.600% due 10/1/50 | 15651 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 12/10/51 | 16212 |
| 25000 | A- | DH Europe Finance II Sarl, Company Guaranteed Notes, 3.400% due 11/15/49 | 18542 |
| 140000 | BB+ | Hologic Inc., Company Guaranteed Notes, 3.250% due 2/15/29(a) | 138473 |
| 575000 | BB- | Medline Borrower LP/Medline Co.-Issuer Inc., Senior Secured Notes, 6.250% due 4/1/29(a) | 595453 |
|  |  | Medtronic Inc., Company Guaranteed Notes: |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 3/15/35 | 49556 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 3/15/45 | 46417 |
|  |  | Solventum Corp., Company Guaranteed Notes: |  |
| 430000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 3/13/31 | 449123 |
| 590000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 3/23/34 | 616801 |
| 465000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 4/30/54 | 477618 |
|  |  | Stryker Corp., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 3/15/46 | 22703 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 6/15/50 | 16897 |
|  |  | Thermo Fisher Scientific Inc., Senior Unsecured Notes: |  |
| 164000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 10/15/31 | 146758 |
| 200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.086% due 8/10/33 | 208854 |
|  |  | Total Healthcare - Products | 4035217 |
| **Healthcare - Services - 0.8%** | **Healthcare - Services - 0.8%** | **Healthcare - Services - 0.8%** |  |
| 110000 | B+ | Acadia Healthcare Co., Inc., Company Guaranteed Notes, 5.500% due 7/1/28(a) | 109062 |
|  |  | Aetna Inc., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 6/15/36 | 27656 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 3/15/44 | 22111 |
|  |  | Centene Corp., Senior Unsecured Notes: |  |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 12/15/27 | 49425 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 7/15/28 | 46654 |
| 100000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 12/15/29 | 96754 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 2/15/30 | 45997 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 10/15/30 | 44651 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 3/1/31 | 43141 |
| 110000 | BB | Charles River Laboratories International Inc., Company Guaranteed Notes, 3.750% due 3/15/29(a) | 106221 |
|  |  | Cigna Group (The): |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 3/1/27 | 99277 |
| 930000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 10/15/28 | 939414 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 8/15/38 | 48435 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 7/15/46 | 45217 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 10/15/47 | 19590 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Healthcare - Services - 0.8% - (continued)** | **Healthcare - Services - 0.8% - (continued)** | **Healthcare - Services - 0.8% - (continued)** |  |
| $25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 12/15/48 | $22694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 3/15/50 | 35602 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 3/15/51 | 35235 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 2/15/54 | 24688 |
| 100000 | A- | City of Hope, Senior Secured Notes, 5.623% due 11/15/43 | 99850 |
|  |  | CommonSpirit Health, Senior Secured Notes: |  |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.817% due 10/1/49 | 38298 |
| 95000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.910% due 10/1/50 | 72070 |
| 100000 | AA | Corewell Health Obligated Group, Senior Unsecured Notes, 3.487% due 7/15/49 | 74007 |
|  |  | DaVita Inc., Company Guaranteed Notes: |  |
| 255000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 6/1/30(a) | 247547 |
| 425000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 7/15/33(a) | 441983 |
| 50000 | AA- | Duke University Health System Inc., Senior Unsecured Notes, 3.920% due 6/1/47 | 41193 |
|  |  | Elevance Health Inc., Senior Unsecured Notes: |  |
| 97000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 3/1/48 | 83796 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 5/15/50 | 16685 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 3/15/51 | 18108 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 5/15/52 | 21075 |
| 66000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.100% due 10/15/52 | 68872 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 9/15/55 | 49709 |
| 200000 | BB- | Encompass Health Corp., Company Guaranteed Notes, 4.750% due 2/1/30 | 199439 |
| 140000 | A | Franciscan Missionaries of Our Lady Health System Inc., Secured Notes, 3.914% due 7/1/49 | 109746 |
|  |  | HCA Inc., Company Guaranteed Notes: |  |
| 200000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 6/1/28 | 205119 |
| 90000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 2/1/29 | 93783 |
| 104000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 6/15/29 | 103794 |
| 805000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 9/1/30 | 775096 |
| 286000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 11/15/32 | 285984 |
| 87000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 11/15/35 | 86703 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 6/15/39 | 24494 |
| 178000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 7/15/51 | 123915 |
| 150000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 4/1/54 | 152400 |
| 894000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 9/15/54 | 900734 |
| 41000 | AA | Hoag Memorial Hospital Presbyterian, Unsecured Notes, 3.803% due 7/15/52 | 32104 |
|  |  | Humana Inc., Senior Unsecured Notes: |  |
| 57000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.350% due 2/3/27 | 55198 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 3/15/27 | 49845 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 3/1/33 | 26423 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 3/15/34 | 26423 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 8/15/49 | 18879 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/15/53 | 23179 |
|  |  | IQVIA Inc., Company Guaranteed Notes: |  |
| 200000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 10/15/26(a) | 200023 |
| 325000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 6/1/32(a) | 340345 |
| 100000 | AA- | Kaiser Foundation Hospitals, Company Guaranteed Notes, 4.875% due 4/1/42 | 96596 |
| 88000 | A+ | Mount Nittany Medical Center Obligated Group, Unsecured Notes, 3.799% due 11/15/52 | 67549 |
| 90000 | Aa2(b) | Nationwide Children's Hospital Inc., Unsecured Notes, 4.556% due 11/1/52 | 79605 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Healthcare - Services - 0.8% - (continued)** | **Healthcare - Services - 0.8% - (continued)** | **Healthcare - Services - 0.8% - (continued)** |  |
| $90000 | AA- | Presbyterian Healthcare Services, Unsecured Notes, 4.875% due 8/1/52 | $82383 |
| 110000 | AA- | Queen's Health Systems (The), Secured Notes, 4.810% due 7/1/52 | 99636 |
| 240000 | AA | Roche Holdings Inc., Company Guaranteed Notes, 2.607% due 12/13/51(a) | 150219 |
| 65000 | Aa2(b) | Seattle Children's Hospital, Unsecured Notes, 2.719% due 10/1/50 | 41592 |
|  |  | Tenet Healthcare Corp., Senior Secured Notes: |  |
| 610000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 6/15/28 | 610752 |
| 470000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 6/15/30 | 480994 |
|  |  | UnitedHealth Group Inc., Senior Unsecured Notes: |  |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 1/15/27 | 99498 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 10/15/27 | 49212 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 6/15/28 | 99892 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 1/15/29 | 100772 |
| 2025000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% due 1/15/31 | 2062011 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.300% due 5/15/31 | 90492 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 4/15/33 | 49921 |
| 165000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 6/15/35 | 172011 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 3/15/36 | 26916 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 8/15/39 | 42286 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 5/15/40 | 18987 |
| 153000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 10/15/47 | 119318 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 6/15/48 | 20868 |
| 375000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 8/15/49 | 284596 |
| 224000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 5/15/51 | 155023 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 5/15/52 | 44218 |
| 885000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 4/15/53 | 816940 |
| 850000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 7/15/54 | 852134 |
| 85000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 6/15/55 | 89141 |
| 120000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/15/59 | 88788 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 5/15/60 | 31201 |
| 65000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 5/15/62 | 57616 |
| 53000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 4/15/63 | 48706 |
|  |  | Total Healthcare - Services | 14098516 |
| **Home Builders - 0.1%** | **Home Builders - 0.1%** | **Home Builders - 0.1%** |  |
| 1485000 | BB | Century Communities Inc., Company Guaranteed Notes, 6.625% due 9/15/33(a) | 1507161 |
| 10000 | BBB | Lennar Corp., Company Guaranteed Notes, 4.750% due 11/29/27 | 10084 |
| 60000 | BB- | LGI Homes Inc., Company Guaranteed Notes, 8.750% due 12/15/28(a) | 62547 |
| 35000 | BBB | Sekisui House US Inc., Company Guaranteed Notes, 6.000% due 1/15/43 | 32978 |
|  |  | Total Home Builders | 1612770 |
| **Home Furnishings - 0.0%@** | **Home Furnishings - 0.0%@** | **Home Furnishings - 0.0%@** |  |
| 240000 | BB- | Somnigroup International Inc., Company Guaranteed Notes, 4.000% due 4/15/29(a) | 234002 |
| **Household Products/Wares - 0.0%@** | **Household Products/Wares - 0.0%@** | **Household Products/Wares - 0.0%@** |  |
| 165000 | B | ACCO Brands Corp., Company Guaranteed Notes, 4.250% due 3/15/29(a) | 149777 |
| 25000 | A | Kimberly-Clark Corp., Senior Unsecured Notes, 3.200% due 7/30/46 | 18313 |
|  |  | Total Household Products/Wares | 168090 |
| **Housewares - 0.0%@** | **Housewares - 0.0%@** | **Housewares - 0.0%@** |  |
| 105000 | BB | Central Garden & Pet Co., Company Guaranteed Notes, 4.125% due 10/15/30 | 100758 |
|  |  | Newell Brands Inc., Senior Unsecured Notes: |  |
| 375000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 9/15/29 | 369768 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Housewares - 0.0%@ - (continued)** | **Housewares - 0.0%@ - (continued)** | **Housewares - 0.0%@ - (continued)** |  |
| $105000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% due 5/15/30 | $101165 |
| 250000 | B- | Scotts Miracle-Gro Co. (The), Company Guaranteed Notes, 4.500% due 10/15/29(f) | 245107 |
|  |  | Total Housewares | 816798 |
| **Insurance - 1.4%** | **Insurance - 1.4%** |  |  |
| 2055000 | A- | 200 Park Funding Trust, Senior Unsecured Notes, 5.740% due 2/15/55(a) | 2072759 |
|  |  | Aflac Inc., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 4/1/30 | 24611 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/15/49 | 22391 |
|  |  | Allianz SE, Subordinated Notes: |  |
| 1000000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.350% (5-Year CMT Index + 3.232%) due 9/6/53(a)(d) | 1080753 |
| 1000000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% (5-Year CMT Index + 2.771%) due 9/3/54(a)(d) | 1025282 |
|  |  | Allstate Corp. (The), Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.450% due 12/15/30 | 21841 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/30/33 | 26093 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 12/15/46 | 21049 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 8/10/49 | 19526 |
|  |  | American International Group Inc., Senior Unsecured Notes: |  |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 3/27/33 | 51704 |
| 83000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 4/1/48 | 74659 |
|  |  | Aon Corp., Company Guaranteed Notes: |  |
| 22000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 12/15/28 | 22307 |
| 49000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 5/2/29 | 48428 |
| 38000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 5/15/30 | 35821 |
| 50000 | A- | Aon Corp./Aon Global Holdings PLC, Company Guaranteed Notes, 5.350% due 2/28/33 | 52294 |
|  |  | Aon North America Inc., Company Guaranteed Notes: |  |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 3/1/34 | 52318 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/1/54 | 50748 |
| 25000 | A- | Arch Capital Group Ltd., Senior Unsecured Notes, 3.635% due 6/30/50 | 18999 |
|  |  | Arthur J. Gallagher & Co., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 7/15/34 | 26070 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 5/20/51 | 17874 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/2/53 | 24959 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 7/15/54 | 24989 |
| 805000 | BBB- | Aspen Insurance Holdings Ltd., Senior Unsecured Notes, 5.750% due 7/1/30 | 844112 |
| 25000 | A | Assured Guaranty US Holdings Inc., Company Guaranteed Notes, 3.150% due 6/15/31 | 23620 |
|  |  | Athene Global Funding: |  |
| 1065000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secured Notes, 5.033% due 7/17/30(a) | 1078699 |
| 1250000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 5.543% due 8/22/35(a) | 1258835 |
|  |  | Athene Holding Ltd., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.150% due 4/3/30 | 26518 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 1/15/31 | 23675 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 1/15/34 | 25943 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 4/1/54 | 49297 |
|  |  | Berkshire Hathaway Finance Corp., Company Guaranteed Notes: |  |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.450% due 10/15/30 | 22282 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 3/15/32 | 46982 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 1/15/40 | 27450 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 5/15/42 | 23504 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Insurance - 1.4% - (continued)** | **Insurance - 1.4% - (continued)** | **Insurance - 1.4% - (continued)** |  |
| $50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 8/15/48 | $42716 |
| 460000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 1/15/49 | 396645 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.850% due 10/15/50 | 32967 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 1/15/51 | 15433 |
| 75000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 3/15/52 | 59175 |
| 25000 | AA | Berkshire Hathaway Inc., Senior Unsecured Notes, 4.500% due 2/11/43 | 23818 |
| 25000 | BBB | Brighthouse Financial Inc., Senior Unsecured Notes, 5.625% due 5/15/30 | 25263 |
|  |  | Brown & Brown Inc., Senior Unsecured Notes: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 3/15/29 | 25101 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 3/15/31 | 22411 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 6/23/55 | 52448 |
|  |  | Chubb INA Holdings LLC, Company Guaranteed Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375% due 9/15/30 | 22045 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 3/13/43 | 21976 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 12/15/61 | 31469 |
| 600000 | BBB+ | Cincinnati Financial Corp., Senior Unsecured Notes, 6.125% due 11/1/34 | 649820 |
| 25000 | A- | CNA Financial Corp., Senior Unsecured Notes, 5.500% due 6/15/33 | 26031 |
|  |  | Corebridge Financial Inc.: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 6.875% (5-Year CMT Index + 3.846%) due 12/15/52(d) | 25550 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 4/5/27 | 49624 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 4/5/29 | 49261 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.050% due 9/15/33 | 26631 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 1/15/34 | 26103 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 4/5/42 | 21596 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 4/5/52 | 20404 |
| 106000 | A+ | Corebridge Global Funding, Senior Secured Notes, 4.900% due 8/21/32(a) | 107122 |
|  |  | Equitable Holdings Inc., Senior Unsecured Notes: |  |
| 17000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 4/20/28 | 17070 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.594% due 1/11/33 | 26198 |
| 17000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 4/20/48 | 15414 |
|  |  | Everest Reinsurance Holdings Inc., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 10/15/50 | 17664 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 10/15/52 | 16121 |
|  |  | Fairfax Financial Holdings Ltd., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 12/7/33 | 26663 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.350% due 3/22/54 | 26170 |
| 25000 | BBB | Fidelity National Financial Inc., Senior Unsecured Notes, 3.400% due 6/15/30 | 23845 |
| 615000 | AA- | Guardian Life Insurance Co. of America (The), Subordinated Notes, 4.850% due 1/24/77(a) | 518407 |
|  |  | Hartford Insurance Group Inc. (The), Senior Unsecured Notes: |  |
| 98000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 10/15/36 | 106899 |
| 4000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 4/15/43 | 3504 |
| 120000 | B+ | HUB International Ltd., Senior Secured Notes, 7.250% due 6/15/30(a) | 125838 |
| 1625000 | A3(b) | Intact Financial Corp., Senior Unsecured Notes, 5.459% due 9/22/32(a) | 1683257 |
| 25000 | BBB | Jackson Financial Inc., Senior Unsecured Notes, 3.125% due 11/23/31 | 22800 |
| 25000 | BBB- | Kemper Corp., Senior Unsecured Notes, 3.800% due 2/23/32 | 23113 |
|  |  | Lincoln National Corp., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 12/12/26 | 24889 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Insurance - 1.4% - (continued)** | **Insurance - 1.4% - (continued)** | **Insurance - 1.4% - (continued)** |  |
| $25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 3/1/28 | $24845 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 1/15/30 | 23879 |
| 25000 | A | Loews Corp., Senior Unsecured Notes, 3.200% due 5/15/30 | 23983 |
| 25000 | A | Manulife Financial Corp., Senior Unsecured Notes, 5.375% due 3/4/46 | 25065 |
|  |  | Markel Group Inc., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 9/17/29 | 24157 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 4/5/46 | 22727 |
|  |  | Marsh & McLennan Cos., Inc., Senior Unsecured Notes: |  |
| 290000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 11/15/30 | 264876 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 3/15/53 | 24585 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 9/15/53 | 25624 |
|  |  | MetLife Inc.: |  |
| 540000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 6.400% due 12/15/36 | 567768 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 7/15/33 | 52821 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% due 6/15/34 | 28131 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 6/15/35 | 26828 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 8/13/42 | 21569 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 11/13/43 | 23511 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 3/1/45 | 20941 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 7/15/52 | 23229 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 1/15/54 | 24182 |
| 980000 | AA- | New York Life Insurance Co., Subordinated Notes, 5.875% due 5/15/33(a) | 1047772 |
| 530000 | Baa3(b) | NMI Holdings Inc., Senior Unsecured Notes, 6.000% due 8/15/29 | 549122 |
|  |  | Northwestern Mutual Life Insurance Co. (The), Subordinated Notes: |  |
| 510000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.170% due 5/29/55(a) | 549519 |
| 1500000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 9/30/59(a) | 1060077 |
| 25000 | BBB+ | Old Republic International Corp., Senior Unsecured Notes, 3.850% due 6/11/51 | 18550 |
| 1405000 | A | Omnis Funding Trust, Senior Unsecured Notes, 6.722% due 5/15/55(a) | 1484326 |
| 610000 | BBB | PartnerRe Finance B LLC, Company Guaranteed Notes, 4.500%<br>(5-Year CMT Index + 3.815%) due 10/1/50(d) | 577664 |
|  |  | Principal Financial Group Inc., Company Guaranteed Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 5/15/29 | 24606 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 6/15/30 | 22766 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 3/15/33 | 26069 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/15/53 | 25048 |
|  |  | Progressive Corp. (The), Senior Unsecured Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 3/26/30 | 24181 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 3/15/32 | 46379 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 6/15/33 | 25787 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 3/15/48 | 21335 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 3/26/50 | 20192 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 3/15/52 | 19373 |
|  |  | Protective Life Corp., Senior Unsecured Notes: |  |
| 755000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 1/15/31(a) | 758428 |
| 740000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 12/15/35(a) | 748816 |
|  |  | Prudential Financial Inc.: |  |
| 600000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 3.700% (5-Year CMT Index + 3.035%) due 10/1/50(d) | 561737 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Insurance - 1.4% - (continued)** | **Insurance - 1.4% - (continued)** | **Insurance - 1.4% - (continued)** |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| $25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.878% due 3/27/28 | $24999 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 3/10/30 | 23235 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 7/15/33 | 54140 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 12/14/36 | 26786 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 3/10/40 | 19692 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.905% due 12/7/47 | 40020 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.935% due 12/7/49 | 19780 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 2/25/50 | 42328 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 3/13/51 | 37947 |
| 25000 | A | Reinsurance Group of America Inc., Senior Unsecured Notes, 6.000% due 9/15/33 | 26820 |
| 600000 | BBB+ | RenaissanceRe Holdings Ltd., Senior Unsecured Notes, 5.750% due 6/5/33 | 630879 |
|  |  | RGA Global Funding, Secured Notes: |  |
| 1035000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 11/25/30(a) | 1037527 |
| 990000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 12/6/31(a) | 1015134 |
| 555000 | AA | Transatlantic Holdings Inc., Senior Unsecured Notes, 8.000% due 11/30/39 | 709699 |
|  |  | Unum Group, Senior Unsecured Notes: |  |
| 500000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.046% due 8/15/41(a) | 412612 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 6/15/51 | 19167 |
|  |  | Willis North America Inc., Company Guaranteed Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 9/15/28 | 25205 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 9/15/29 | 23820 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 3/5/54 | 25435 |
| 25000 | BBB+ | WR Berkley Corp., Senior Unsecured Notes, 3.550% due 3/30/52 | 18084 |
|  |  | Total Insurance | 25811630 |
| **Internet - 0.5%** | **Internet - 0.5%** |  |  |
| 200000 | A+ | Alibaba Group Holding Ltd., Senior Unsecured Notes, 5.250% due 5/26/35 | 209302 |
|  |  | Alphabet Inc., Senior Unsecured Notes: |  |
| 80000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.100% due 8/15/30 | 70694 |
| 100000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 11/15/30 | 100885 |
| 50000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 11/15/35 | 50827 |
| 50000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 11/15/45 | 51157 |
| 50000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.050% due 8/15/50 | 28337 |
| 50000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 11/15/55 | 50865 |
| 50000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 8/15/60 | 26700 |
| 50000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 11/15/75 | 51467 |
|  |  | Amazon.com Inc., Senior Unsecured Notes: |  |
| 200000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 4/13/27 | 198915 |
| 100000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 5/12/31 | 90552 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% due 11/20/35 | 50466 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/22/37 | 46492 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 5/12/41 | 38660 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 12/5/44 | 49170 |
| 200000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 6/3/50 | 123495 |
| 75000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 5/12/51 | 51864 |
| 75000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 4/13/52 | 60364 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 11/20/55 | 50465 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 6/3/60 | 29212 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 5/12/61 | 33144 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Internet - 0.5% - (continued)** | **Internet - 0.5% - (continued)** | **Internet - 0.5% - (continued)** |  |
| $25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 4/13/62 | $19826 |
| 25000 | BBB+ | eBay Inc., Senior Unsecured Notes, 3.650% due 5/10/51 | 18630 |
|  |  | Meta Platforms Inc., Senior Unsecured Notes: |  |
| 100000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 11/15/30 | 100717 |
| 220000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 11/15/32 | 223353 |
| 450000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 8/15/34 | 458015 |
| 2278000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 11/15/35 | 2303574 |
| 485000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 11/15/45 | 485446 |
| 225000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 8/15/52 | 189653 |
| 260000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 8/15/54 | 252352 |
| 2010000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 11/15/55 | 2006351 |
| 115000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% due 8/15/62 | 96616 |
| 25000 | A | Netflix Inc., Senior Unsecured Notes, 4.900% due 8/15/34 | 25941 |
|  |  | Uber Technologies Inc., Senior Unsecured Notes: |  |
| 650000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 9/15/34 | 654046 |
| 640000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 9/15/35 | 640110 |
| 110000 | BB- | Wayfair LLC, Senior Secured Notes, 7.250% due 10/31/29(a) | 114702 |
|  |  | Total Internet | 9052365 |
| **Investment Companies - 0.3%** | **Investment Companies - 0.3%** | **Investment Companies - 0.3%** |  |
|  |  | Ares Capital Corp., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 1/15/27 | 25656 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 6/15/28 | 47736 |
| 320000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 3/1/29 | 328903 |
| 845000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 9/1/30 | 853207 |
| 785000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 1/15/31 | 776322 |
| 865000 | BBB- | Ares Strategic Income Fund, Senior Unsecured Notes, 5.700% due 3/15/28 | 876843 |
|  |  | Blackstone Private Credit Fund, Senior Unsecured Notes: |  |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625% due 12/15/26 | 48997 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 3/15/27 | 49112 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 1/25/31(a) | 25897 |
| 25000 | Baa2(b) | Blackstone Secured Lending Fund, Senior Unsecured Notes, 2.850% due 9/30/28 | 23642 |
| 1045000 | BBB- | Blue Owl Capital Corp., Senior Unsecured Notes, 5.950% due 3/15/29 | 1058490 |
|  |  | Blue Owl Credit Income Corp., Senior Unsecured Notes: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 2/8/27 | 24876 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 9/16/27 | 25933 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 1/15/29 | 26455 |
| 25000 | Baa3(b) | FS KKR Capital Corp., Senior Unsecured Notes, 3.125% due 10/12/28 | 23144 |
| 200000 | Aa3(b) | Gaci First Investment Co., Company Guaranteed Notes, (Cost - $204,022, acquired 3/14/23), 5.250% due 10/13/32(c) | 207367 |
| 25000 | BBB- | Golub Capital BDC Inc., Senior Unsecured Notes, 6.000% due 7/15/29 | 25504 |
| 75000 | BB- | Icahn Enterprises LP/Icahn Enterprises Finance Corp., Senior Secured Notes,<br>5.250% due 5/15/27 | 74099 |
|  |  | Total Investment Companies | 4522183 |
| **Iron/Steel - 0.0%@** | **Iron/Steel - 0.0%@** | **Iron/Steel - 0.0%@** |  |
| 25000 | BBB | ArcelorMittal SA, Senior Unsecured Notes, 6.750% due 3/1/41 | 27496 |
| 60000 | BB+ | Big River Steel LLC/BRS Finance Corp., Senior Secured Notes, 6.625% due 1/31/29(a) | 60351 |
|  |  | Cleveland-Cliffs Inc., Company Guaranteed Notes: |  |
| 145000 | Ba3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 11/1/29(a) | 149308 |
| 60000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 4/15/30(a) | 61370 |
| 135000 | Ba3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 3/1/31(a) | 128701 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Iron/Steel - 0.0%@ - (continued)** | **Iron/Steel - 0.0%@ - (continued)** | **Iron/Steel - 0.0%@ - (continued)** | **Iron/Steel - 0.0%@ - (continued)** |  |
|  |  |  | Nucor Corp., Senior Unsecured Notes: |  |
| $25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.400% due 12/1/37 | $28173 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 4/1/52 | 19408 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.979% due 12/15/55 | 15828 |
| 25000 |  | BBB+ | Reliance Inc., Senior Unsecured Notes, 2.150% due 8/15/30 | 22667 |
| 25000 |  | BBB | Steel Dynamics Inc., Senior Unsecured Notes, 3.250% due 10/15/50 | 17416 |
| 60000 |  | BB+ | United States Steel Corp., Senior Unsecured Notes, 6.875% due 3/1/29 | 60695 |
|  |  |  | Vale Overseas Ltd., Company Guaranteed Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 11/21/36 | 28365 |
| 13000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 11/10/39 | 14860 |
| 25000 |  | BBB | Vale SA, Senior Unsecured Notes, 5.625% due 9/11/42 | 25394 |
|  |  |  | Total Iron/Steel | 660032 |
| **Leisure Time - 0.4%** | **Leisure Time - 0.4%** | **Leisure Time - 0.4%** | **Leisure Time - 0.4%** |  |
| 105000 |  | BBB- | Amer Sports Co., Senior Secured Notes, 6.750% due 2/16/31(a) | 109577 |
| 2715000 |  | BB+ | Carnival Corp., Company Guaranteed Notes, 6.125% due 2/15/33(a) | 2798389 |
| 40000 |  | B+ | NCL Corp., Ltd., Senior Unsecured Notes, 5.875% due 1/15/31(a) | 39499 |
|  |  |  | Royal Caribbean Cruises Ltd., Senior Unsecured Notes: |  |
| 130000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 9/30/31(a) | 132907 |
| 320000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 3/15/32(a) | 331209 |
| 1950000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 2/1/33(a) | 2008353 |
| 1205000 |  | B- | Sabre GLBL Inc., Senior Secured Notes, 10.750% due 11/15/29(a) | 1061220 |
| 160000 |  | BB | Viking Cruises Ltd., Senior Unsecured Notes, 5.875% due 10/15/33(a) | 162694 |
|  |  |  | Total Leisure Time | 6643848 |
| **Lodging - 0.2%** | **Lodging - 0.2%** | **Lodging - 0.2%** | **Lodging - 0.2%** |  |
| 1200000 | <sup>EUR</sup> | B+ | Essendi SA, Senior Secured Notes, (Cost - $1,437,987, acquired 10/20/25), 5.500% due 11/15/31(c) | 1425497 |
|  |  |  | Hilton Domestic Operating Co., Inc., Company Guaranteed Notes: |  |
| 80000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 5/1/28(a) | 80278 |
| 270000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 2/15/32(a) | 251156 |
| 245000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 3/15/33(a) | 252814 |
|  |  |  | Las Vegas Sands Corp., Senior Unsecured Notes: |  |
| 525000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 6/15/28 | 537102 |
| 685000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 8/15/34 | 722272 |
| 155000 |  | BBB | Marriott International Inc., Senior Unsecured Notes, 5.300% due 5/15/34 | 160864 |
| 305000 |  | BB- | MGM Resorts International, Company Guaranteed Notes, 6.125% due 9/15/29 | 311981 |
| 200000 |  | BBB- | Sands China Ltd., Senior Unsecured Notes, 2.300% due 3/8/27 | 195037 |
| 160000 |  | B | Station Casinos LLC, Company Guaranteed Notes, 4.500% due 2/15/28(a) | 158448 |
|  |  |  | Total Lodging | 4095449 |
| **Machinery - Construction & Mining - 0.0%@** | **Machinery - Construction & Mining - 0.0%@** | **Machinery - Construction & Mining - 0.0%@** | **Machinery - Construction & Mining - 0.0%@** |  |
| 45000 |  | BB- | BWX Technologies Inc., Company Guaranteed Notes, 4.125% due 6/30/28(a) | 44262 |
|  |  |  | Caterpillar Financial Services Corp., Senior Unsecured Notes: |  |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.700% due 1/8/27 | 195652 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 1/8/27 | 50388 |
|  |  |  | Caterpillar Inc., Senior Unsecured Notes: |  |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.803% due 8/15/42 | 42534 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 4/9/50 | 36442 |
| 170000 |  | BB | Terex Corp., Company Guaranteed Notes, 5.000% due 5/15/29(a) | 169036 |
|  |  |  | Total Machinery - Construction & Mining | 538314 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br>**Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Machinery - Diversified - 0.1%** | **Machinery - Diversified - 0.1%** | **Machinery - Diversified - 0.1%** |  |
| $220000 | BB- | Chart Industries Inc., Senior Secured Notes, 7.500% due 1/1/30(a) | $229502 |
| 185000 | BBB+ | CNH Industrial Capital LLC, Company Guaranteed Notes, 4.550% due 4/10/28 | 186611 |
|  |  | Deere & Co., Senior Unsecured Notes: |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 1/16/35 | 53200 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 6/9/42 | 21819 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 4/15/50 | 19964 |
| 90000 | BB+ | Esab Corp., Company Guaranteed Notes, 6.250% due 4/15/29(a) | 92830 |
|  |  | John Deere Capital Corp., Senior Unsecured Notes: |  |
| 100000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.700% due 1/11/27 | 97760 |
| 100000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 3/9/27 | 97455 |
| 100000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 6/5/30 | 102078 |
|  |  | Otis Worldwide Corp., Senior Unsecured Notes: |  |
| 29000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 8/16/28 | 29922 |
| 210000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.565% due 2/15/30 | 196746 |
|  |  | Total Machinery - Diversified | 1127887 |
| **Media - 1.2%** | **Media - 1.2%** | **Media - 1.2%** |  |
|  |  | CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes: |  |
| 645000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 8/15/30(a) | 604941 |
| 165000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 2/1/32(a) | 151771 |
| 815000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 5/1/32 | 734978 |
| 405000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 6/1/33(a) | 356198 |
| 2370000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 1/15/34(a)(f) | 2010490 |
|  |  | Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes: |  |
| 175000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 3/15/28 | 174043 |
| 1425000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.100% due 6/1/29 | 1486201 |
| 1830000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 4/1/31 | 1644687 |
| 280000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.550% due 6/1/34 | 295418 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.384% due 10/23/35 | 25844 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 12/1/35 | 50138 |
| 50000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 3/1/42 | 35117 |
| 92000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 4/1/48 | 80683 |
| 315000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 3/1/50 | 242257 |
| 451000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 6/1/52 | 296331 |
| 718000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 4/1/61 | 439708 |
| 101000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 6/30/62 | 62176 |
|  |  | Comcast Corp., Company Guaranteed Notes: |  |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.350% due 1/15/27 | 98253 |
| 45000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.950% due 1/15/31 | 40099 |
| 188000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 2/15/31 | 163514 |
| 182000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 5/15/33 | 184372 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 7/15/36 | 21404 |
| 365000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 3/1/38 | 320672 |
| 20000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 11/1/39 | 15896 |
| 27000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 3/1/44 | 23977 |
| 153000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.969% due 11/1/47 | 117594 |
| 20000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/1/48 | 15410 |
| 43000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.999% due 11/1/49 | 32522 |
| 60000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 2/1/50 | 41225 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Media - 1.2% - (continued)** | **Media - 1.2% - (continued)** | **Media - 1.2% - (continued)** |  |
| $1210000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 1/15/51 | $723408 |
| 149000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.887% due 11/1/51 | 90220 |
| 1051000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.049% due 11/1/52 | 786777 |
| 700000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.050% due 5/15/55 | 709034 |
| 889000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.937% due 11/1/56 | 516406 |
| 79000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 8/15/62 | 40752 |
| 400000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.987% due 11/1/63(f) | 223412 |
| 765000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 5/15/64 | 706163 |
| 110000 | B+ | Directv Financing LLC/Directv Financing Co.-Obligor Inc., Senior Secured Notes,<br>5.875% due 8/15/27(a) | 110118 |
| 100000 | CCC+ | DISH DBS Corp., Senior Secured Notes, 5.250% due 12/1/26(a) | 97773 |
| 205000 | B | DISH Network Corp., Senior Secured Notes, 11.750% due 11/15/27(a) | 214234 |
| 321000 | Baa3(b) | FactSet Research Systems Inc., Senior Unsecured Notes, 3.450% due 3/1/32 | 298076 |
|  |  | Gray Media Inc., Senior Secured Notes: |  |
| 105000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.500% due 7/15/29(a) | 113240 |
| 65000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 8/15/33(a) | 65163 |
|  |  | iHeartCommunications Inc., Senior Secured Notes: |  |
| 65000 | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125% due 5/1/29(a) | 60202 |
| 70000 | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 8/15/30(a) | 60023 |
|  |  | News Corp.: |  |
| 335000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 5.125% due 2/15/32(a) | 333085 |
| 2357000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 3.875% due 5/15/29(a) | 2275913 |
| 220000 | BB+ | Nexstar Media Inc., Company Guaranteed Notes, 5.625% due 7/15/27(a) | 220339 |
|  |  | Paramount Global, Company Guaranteed Notes: |  |
| 42000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 9/1/43 | 37806 |
| 43000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 4/1/44 | 34931 |
| 34000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 8/15/44 | 26589 |
| 50000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 1/15/45 | 38105 |
| 48000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 5/19/50 | 37405 |
|  |  | Sinclair Television Group Inc., Senior Secured Notes: |  |
| 43000 | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 12/31/32(a) | 33486 |
| 65000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125% due 2/15/33(a) | 67770 |
|  |  | Sirius XM Radio LLC, Company Guaranteed Notes: |  |
| 380000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 7/15/28(a) | 370744 |
| 320000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 7/1/30(a) | 303272 |
|  |  | TEGNA Inc., Company Guaranteed Notes: |  |
| 150000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 3/15/28 | 148751 |
| 155000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 9/15/29 | 153679 |
| 50000 | BBB- | Time Warner Cable Enterprises LLC, Senior Secured Notes, 8.375% due 7/15/33 | 57954 |
|  |  | Time Warner Cable LLC, Senior Secured Notes: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.550% due 5/1/37 | 25570 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.300% due 7/1/38 | 26661 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 6/15/39 | 25487 |
| 2202000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 9/1/41 | 1952948 |
| 100000 | B+ | Univision Communications Inc., Senior Secured Notes, 7.375% due 6/30/30(a) | 101534 |
| 115000 | B+ | Virgin Media Secured Finance PLC, Senior Secured Notes, 4.500% due 8/15/30(a) | 107326 |
|  |  | Walt Disney Co. (The), Company Guaranteed Notes: |  |
| 200000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 3/23/27 | 199756 |
| 100000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.200% due 1/13/28 | 96913 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |  |
| **Media - 1.2% - (continued)** | **Media - 1.2% - (continued)** | **Media - 1.2% - (continued)** |  |  |
| $100000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 1/13/31 | $| 93736 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 12/15/34 |  | 56708 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.400% due 12/15/35 |  | 28500 |
| 30000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650% due 11/15/37 |  | 34734 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 5/13/40 |  | 42315 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 9/1/49 |  | 32461 |
| 100000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 1/13/51 |  | 76041 |
|  |  | Total Media |  | 21621439 |
| **Mining - 0.2%** | **Mining - 0.2%** | **Mining - 0.2%** | **Mining - 0.2%** | **Mining - 0.2%** |
| 380000 | BBB | Anglo American Capital PLC, Company Guaranteed Notes, 2.625% due 9/10/30(a) |  | 351921 |
|  |  | Barrick North America Finance LLC, Company Guaranteed Notes: |  |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 5/30/41 |  | 25781 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 5/1/43 |  | 25838 |
|  |  | BHP Billsiton Finance USA Ltd., Company Guaranteed Notes: |  |  |
| 25000 | A1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 9/8/30 |  | 26128 |
| 50000 | A1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 9/8/33 |  | 52207 |
| 25000 | A1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 2/24/42 |  | 21920 |
| 25000 | A1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 9/30/43 |  | 24047 |
| 25000 | A1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 9/8/53 |  | 25385 |
|  |  | Freeport-McMoRan Inc., Company Guaranteed Notes: |  |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 3/1/28 |  | 24947 |
| 290000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 8/1/30 |  | 291653 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 3/15/43 |  | 24366 |
| 1055000 | BBB+ | Glencore Funding LLC, Company Guaranteed Notes, 5.634% due 4/4/34(a) |  | 1107424 |
| 25000 | BBB- | Kinross Gold Corp., Senior Unsecured Notes, 6.250% due 7/15/33 |  | 27463 |
|  |  | Newmont Corp., Company Guaranteed Notes: |  |  |
| 61000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.600% due 7/15/32 |  | 55602 |
| 108000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 4/1/35 |  | 117325 |
| 25000 | A | Rio Tinto Finance USA Ltd., Company Guaranteed Notes, 2.750% due 11/2/51 |  | 15790 |
|  |  | Rio Tinto Finance USA PLC, Company Guaranteed Notes: |  |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/9/33 |  | 51658 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 3/22/42 |  | 23702 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 8/21/42 |  | 21781 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 3/9/53 |  | 23753 |
| 1370000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/14/55 |  | 1419775 |
|  |  | Southern Copper Corp., Senior Unsecured Notes: |  |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 4/16/40 |  | 28466 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 11/8/42 |  | 24076 |
| 25000 | BBB- | Yamana Gold Inc., Company Guaranteed Notes, 2.630% due 8/15/31 |  | 22509 |
|  |  | Total Mining |  | 3833517 |
| **Miscellaneous Manufacturers - 0.1%** | **Miscellaneous Manufacturers - 0.1%** | **Miscellaneous Manufacturers - 0.1%** |  |  |
|  |  | 3M Co., Senior Unsecured Notes: |  |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 9/14/48 |  | 20396 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 8/26/49 |  | 35242 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 4/15/50 |  | 19091 |
| 120000 | BB- | Avient Corp., Senior Unsecured Notes, 7.125% due 8/1/30(a) |  | 123997 |
| 65000 | BB+ | Axon Enterprise Inc., Senior Unsecured Notes, 6.125% due 3/15/30(a) |  | 67163 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |  |
| **Miscellaneous Manufacturers - 0.1% - (continued)** | **Miscellaneous Manufacturers - 0.1% - (continued)** | **Miscellaneous Manufacturers - 0.1% - (continued)** | **Miscellaneous Manufacturers - 0.1% - (continued)** |  |  |
|  |  |  | Eaton Corp., Company Guaranteed Notes: |  |  |
| $115000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 11/2/42 | $| 101767 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 8/23/52 |  | 22873 |
|  |  |  | Entegris Inc.: |  |  |
| 235000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 5.950% due 6/15/30(a) |  | 240811 |
| 760000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 4.750% due 4/15/29(a) |  | 759251 |
| 105000 |  | BB | Hillenbrand Inc., Company Guaranteed Notes, 3.750% due 3/1/31 |  | 105389 |
| 25000 |  | BBB+ | Parker-Hannifin Corp., Senior Unsecured Notes, 4.000% due 6/14/49 |  | 20486 |
| 218000 |  | BBB | Textron Inc., Senior Unsecured Notes, 3.900% due 9/17/29 |  | 215265 |
| 120000 |  | BB+ | Trinity Industries Inc., Company Guaranteed Notes, 7.750% due 7/15/28(a) |  | 125033 |
|  |  |  | Total Miscellaneous Manufacturers |  | 1856764 |
| **Multi - National - 0.4%** | **Multi - National - 0.4%** | **Multi - National - 0.4%** | **Multi - National - 0.4%** | **Multi - National - 0.4%** | **Multi - National - 0.4%** |
| 200000 |  | AAA | African Development Bank, Senior Unsecured Notes, 4.625% due 1/4/27 |  | 201991 |
| 1245000 |  | Baa2(b) | African Export-Import Bank (The), Senior Unsecured Notes, 3.798% due 5/17/31(a) |  | 1119985 |
|  |  |  | Asian Development Bank, Senior Unsecured Notes: |  |  |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 1/12/27 |  | 200992 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 11/2/27 |  | 196130 |
| 100000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 1/14/28 |  | 101763 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 4/25/28 |  | 201000 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 8/28/29 |  | 200312 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 9/28/32 |  | 200485 |
| 200000 |  | AAA | Asian Infrastructure Investment Bank (The), Senior Unsecured Notes,<br>4.500% due 1/16/30 |  | 206690 |
|  |  |  | Banque Ouest Africaine de Developpement, Senior Unsecured Notes: |  |  |
| 500000 |  | Baa1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 7/27/27(a) |  | 497567 |
| 1100000 |  | Baa1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 10/22/31(a) |  | 1013056 |
| 1000000 | <sup>EUR</sup> | Baa1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost - $893,906, acquired 5/30/24), 2.750% due 1/22/33(c) |  | 991762 |
|  |  |  | European Investment Bank, Senior Unsecured Notes: |  |  |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 3/19/27 |  | 201905 |
| 400000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 11/15/29 |  | 402416 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 3/14/30 |  | 207035 |
| 300000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 2/13/34 |  | 303934 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 2/12/35 |  | 209264 |
|  |  |  | Inter-American Development Bank, Senior Unsecured Notes: |  |  |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 1/13/27 |  | 195305 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 2/1/27 |  | 201619 |
| 400000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 7/17/34 |  | 411292 |
|  |  |  | Total Multi-National |  | 7264503 |
| **Office/Business Equipment - 0.0%@** | **Office/Business Equipment - 0.0%@** | **Office/Business Equipment - 0.0%@** | **Office/Business Equipment - 0.0%@** |  |  |
| 25000 |  | BBB- | CDW LLC/CDW Finance Corp., Company Guaranteed Notes, 3.250% due 2/15/29 |  | 24022 |
| **Oil & Gas - 1.9%** | **Oil & Gas - 1.9%** | **Oil & Gas - 1.9%** | **Oil & Gas - 1.9%** |  |  |
|  |  |  | Aker BP ASA, Senior Unsecured Notes: |  |  |
| 600000 | <sup>EUR</sup> | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost - $604,739, acquired 3/7/24), 1.125% due 5/12/29(c) |  | 652217 |
| 655000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 10/1/54(a) |  | 607103 |
| 215000 |  | BBB- | Antero Resources Corp., Company Guaranteed Notes, 7.625% due 2/1/29(a) |  | 219145 |
|  |  |  | APA Corp., Senior Unsecured Notes: |  |  |
| 159000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 1/15/30 |  | 156156 |
| 720000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 7/1/49 |  | 610882 |
| 190000 |  | BB- | Baytex Energy Corp., Company Guaranteed Notes, 8.500% due 4/30/30(a) |  | 200538 |
| 256098 |  | BB- | Borr IHC Ltd./Borr Finance LLC, Senior Secured Notes, 10.000% due 11/15/28(a) |  | 255757 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Oil & Gas - 1.9% - (continued)** | **Oil & Gas - 1.9% - (continued)** | **Oil & Gas - 1.9% - (continued)** |  |
|  |  | BP Capital Markets America Inc., Company Guaranteed Notes: |  |
| $250000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.017% due 1/16/27 | $247630 |
| 110000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.633% due 4/6/30 | 108269 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.812% due 2/13/33 | 50895 |
| 93000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.989% due 4/10/34 | 95545 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.772% due 11/10/50 | 31729 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.939% due 6/4/51 | 65418 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.001% due 3/17/52 | 32898 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.379% due 2/8/61 | 33686 |
|  |  | BP Capital Markets PLC, Company Guaranteed Notes: |  |
| 2000000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% (5-Year CMT Index + 4.398%)(d)(e) | 1995633 |
| 1000000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.450% (5-Year CMT Index + 2.153%)(d)(e) | 1063616 |
| 50000 | Baa1(b) | Canadian Natural Resources Ltd., Senior Unsecured Notes, 4.950% due 6/1/47 | 44414 |
|  |  | Chevron USA Inc., Company Guaranteed Notes: |  |
| 10000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 1/15/28 | 10026 |
| 100000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.687% due 4/15/30 | 102629 |
| 100000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 10/15/30 | 101251 |
| 25000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.343% due 8/12/50 | 14965 |
|  |  | Chord Energy Corp., Company Guaranteed Notes: |  |
| 55000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 10/1/30(a) | 55493 |
| 70000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 3/15/33(a) | 72314 |
|  |  | Civitas Resources Inc., Company Guaranteed Notes: |  |
| 275000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375% due 7/1/28(a) | 283963 |
| 275000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750% due 7/1/31(a) | 286713 |
| 25000 | A+ | CNOOC Petroleum North America ULC, Company Guaranteed Notes, 6.400% due 5/15/37 | 29831 |
| 150000 | B | Comstock Resources Inc., Company Guaranteed Notes, 6.750% due 3/1/29(a) | 150570 |
|  |  | ConocoPhillips Co., Company Guaranteed Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 9/15/33 | 25928 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 2/1/39 | 28436 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 3/15/52 | 18844 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 5/15/53 | 47717 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 3/15/54 | 24566 |
| 1670000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/15/55 | 1633789 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.025% due 3/15/62 | 37321 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 9/15/63 | 24899 |
| 340000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 1/15/65 | 335506 |
|  |  | Continental Resources Inc., Company Guaranteed Notes: |  |
| 180000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.268% due 11/15/26(a) | 176330 |
| 580000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 1/15/28 | 578137 |
| 80000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 1/15/31(a) | 82538 |
|  |  | Coterra Energy Inc., Senior Unsecured Notes: |  |
| 950000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 5/15/27 | 946674 |
| 150000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 3/15/29 | 150349 |
| 885000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 2/15/35 | 903260 |
| 621000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 2/15/55 | 605578 |
| 180000 | BB- | Crescent Energy Finance LLC, Company Guaranteed Notes, 9.250% due 2/15/28(a) | 186830 |
|  |  | Devon Energy Corp., Senior Unsecured Notes: |  |
| 92000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 6/15/28 | 92029 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Oil & Gas - 1.9% - (continued)** | **Oil & Gas - 1.9% - (continued)** | **Oil & Gas - 1.9% - (continued)** |  |
| $129000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 1/15/30 | $129214 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 9/15/34 | 25117 |
| 485000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 7/15/41 | 473600 |
| 10000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 5/15/42 | 8759 |
| 640000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 6/15/45 | 561073 |
| 95000 | BB+ | Diamond Foreign Asset Co./Diamond Finance LLC, Secured Notes, 8.500% due 10/1/30(a) | 101120 |
|  |  | Diamondback Energy Inc., Company Guaranteed Notes: |  |
| 114000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 12/1/26 | 113068 |
| 694000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 12/1/29 | 673435 |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 3/24/31 | 187043 |
| 2000000 | NR | Diversified Gas & Oil Corp., Senior Secured Notes, 9.750% due 4/9/29(a) | 1972133 |
| 100000 | BB | Ecopetrol SA, Senior Unsecured Notes, 8.375% due 1/19/36 | 102720 |
| 1610000 | A- | Eni SpA, Senior Unsecured Notes, 5.950% due 5/15/54(a) | 1619395 |
| 190000 | A- | EOG Resources Inc., Senior Unsecured Notes, 4.375% due 4/15/30 | 191758 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EQT Corp., Senior Unsecured Notes: |  |
| 236000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 10/1/27 | 234672 |
| 52000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 4/1/28 | 53726 |
| 201000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 1/15/29 | 203874 |
| 462000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/15/31 | 465345 |
| 200000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 5/15/31(a) | 188680 |
| 128000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 2/1/34 | 134901 |
|  |  | Equinor ASA, Company Guaranteed Notes: |  |
| 50000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 9/10/28 | 49830 |
| 50000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 11/18/49 | 36086 |
| 25000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 4/6/50 | 19507 |
|  |  | Expand Energy Corp., Company Guaranteed Notes: |  |
| 10000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 2/1/29 | 10023 |
| 105000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 4/15/29(a) | 105773 |
| 1340000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 3/15/30 | 1359019 |
| 1515000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 2/1/32 | 1498785 |
|  |  | Exxon Mobil Corp., Senior Unsecured Notes: |  |
| 180000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.482% due 3/19/30 | 176716 |
| 460000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.227% due 3/19/40 | 427451 |
| 75000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.114% due 3/1/46 | 64022 |
| 185000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.327% due 3/19/50 | 158660 |
| 200000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.452% due 4/15/51 | 147141 |
| 125000 | BB- | Gulfport Energy Operating Corp., Company Guaranteed Notes, 6.750% due 9/1/29(a) | 129193 |
| 75000 | AA- | Hess Corp., Senior Unsecured Notes, 5.800% due 4/1/47 | 78585 |
| 210000 | BB+ | Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes, 5.750% due 2/1/29(a) | 206401 |
|  |  | Marathon Petroleum Corp., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 3/1/30 | 25758 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 3/1/41 | 26905 |
| 260000 | BB- | Matador Resources Co., Company Guaranteed Notes, 6.500% due 4/15/32(a) | 264242 |
| 65000 | BB- | Noble Finance II LLC, Company Guaranteed Notes, 8.000% due 4/15/30(a) | 67577 |
|  |  | Occidental Petroleum Corp., Senior Unsecured Notes: |  |
| 50000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 10/1/34 | 50962 |
| 50000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.450% due 9/15/36 | 53424 |
| 25000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 3/15/40 | 25585 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Oil & Gas - 1.9% - (continued)** | **Oil & Gas - 1.9% - (continued)** | **Oil & Gas - 1.9% - (continued)** | **Oil & Gas - 1.9% - (continued)** |  |
| $50000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.600% due 3/15/46 | $52152 |
| 177000 |  | BBB- | Ovintiv Inc., Company Guaranteed Notes, 6.250% due 7/15/33 | 187917 |
|  |  |  | Permian Resources Operating LLC, Company Guaranteed Notes: |  |
| 190000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 7/1/29(a) | 190757 |
| 155000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 2/1/33(a) | 158974 |
|  |  |  | Petroleos Mexicanos, Company Guaranteed Notes: |  |
| 300000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.840% due 1/23/30 | 303796 |
| 150000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.700% due 2/16/32 | 148791 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000% due 2/7/33 | 115477 |
| 530000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.690% due 1/23/50 | 473398 |
| 50000 |  | BBB+ | Phillips 66 Co., Company Guaranteed Notes, 5.500% due 3/15/55 | 46755 |
|  |  |  | Pioneer Natural Resources Co., Senior Unsecured Notes: |  |
| 50000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.900% due 8/15/30 | 45265 |
| 330000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.150% due 1/15/31 | 300078 |
| 665000 |  | BBB- | Santos Finance Ltd., Company Guaranteed Notes, 5.750% due 11/13/35(a) | 667069 |
|  |  |  | Saudi Arabian Oil Co., Senior Unsecured Notes: |  |
| 655000 |  | Aa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 6/2/35(a) | 676448 |
| 880000 |  | Aa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% due 6/2/55(a) | 938833 |
|  |  |  | Shell Finance US Inc., Company Guaranteed Notes: |  |
| 25000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 5/11/35 | 24196 |
| 1755000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/6/36 | 1768858 |
| 90000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 8/12/43 | 81890 |
| 140000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 5/11/45 | 122749 |
| 340000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 5/10/46 | 281325 |
| 480000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 4/6/50 | 340120 |
|  |  |  | Shell International Finance BV, Company Guaranteed Notes: |  |
| 220000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 11/13/28 | 220460 |
| 50000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 11/26/51 | 33438 |
| 235000 |  | BB- | SM Energy Co., Senior Unsecured Notes, 6.625% due 1/15/27 | 235949 |
| 120000 |  | BB+ | Sunoco LP, Company Guaranteed Notes, 7.250% due 5/1/32(a) | 126734 |
| 185000 |  | BB+ | Sunoco LP/Sunoco Finance Corp., Company Guaranteed Notes, 6.000% due 4/15/27 | 185408 |
| 50000 |  | A+ | TotalEnergies Capital International SA, Company Guaranteed Notes,<br>3.127% due 5/29/50 | 34283 |
|  |  |  | TotalEnergies Capital SA, Company Guaranteed Notes: |  |
| 50000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 4/5/34 | 52271 |
| 100000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.724% due 9/10/34 | 101788 |
| 25000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.425% due 9/10/64 | 24079 |
| 25000 |  | BBB | Valero Energy Corp., Senior Unsecured Notes, 6.625% due 6/15/37 | 27928 |
| 125000 |  | B | Vital Energy Inc., Company Guaranteed Notes, 7.875% due 4/15/32(a) | 121233 |
| 700000 | <sup>EUR</sup> | Ba1(b) | Wintershall Dea Finance 2 BV, Company Guaranteed Notes, (Cost - $689,954, acquired 12/10/24), 3.000% (3.319% - 5-Year EUR Swap Rate)(c)(e)(i) | 783912 |
|  |  |  | Total Oil & Gas | 34771626 |
| **Oil & Gas Services - 0.1%** | **Oil & Gas Services - 0.1%** | **Oil & Gas Services - 0.1%** | **Oil & Gas Services - 0.1%** |  |
| 95000 |  | BB- | Archrock Partners LP/Archrock Partners Finance Corp., Company Guaranteed Notes, 6.250% due 4/1/28(a) | 95902 |
|  |  |  | Halliburton Co., Senior Unsecured Notes: |  |
| 20000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 11/15/35 | 19904 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 11/15/45 | 91310 |
|  |  |  | Kodiak Gas Services LLC, Company Guaranteed Notes: |  |
| 110000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 2/15/29(a) | 114772 |
| 50000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 10/1/33(a) | 51037 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Oil & Gas Services - 0.1% - (continued)** | **Oil & Gas Services - 0.1% - (continued)** | **Oil & Gas Services - 0.1% - (continued)** | **Oil & Gas Services - 0.1% - (continued)** |  |
| 400000 | <sup>EUR</sup> | B1(b) | OEG Finance PLC, Senior Secured Notes, (Cost - $437,741, acquired 12/11/24),<br>7.250% due 9/27/29(c) | $485497 |
|  |  |  | Schlumberger Holdings Corp.: |  |
| $910000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 4.850% due 5/15/33(a)(f) | 920009 |
| 171000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 3.900% due 5/17/28(a) | 170828 |
|  |  |  | Total Oil & Gas Services | 1949259 |
| **Packaging & Containers - 0.2%** | **Packaging & Containers - 0.2%** | **Packaging & Containers - 0.2%** | **Packaging & Containers - 0.2%** |  |
|  |  |  | Amcor Flexibles North America Inc. North America Inc., Company Guaranteed Notes: |  |
| 570000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 3/17/30 | 585223 |
| 94000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.690% due 5/25/31 | 86000 |
| 945000 |  | BBB | AptarGroup Inc., Senior Unsecured Notes, 4.750% due 3/30/31 | 954164 |
|  |  |  | Ball Corp., Company Guaranteed Notes: |  |
| 135000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 6/15/29 | 139112 |
| 55000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 9/15/33 | 56074 |
| 25000 |  | BBB | Berry Global Inc., Senior Secured Notes, 5.650% due 1/15/34 | 26224 |
| 40000 |  | B+ | Clydesdale Acquisition Holdings Inc., Senior Secured Notes, 6.750% due 4/15/32(a) | 40394 |
| 185000 |  | BB | Graphic Packaging International LLC, Company Guaranteed Notes, 6.375% due 7/15/32(a) | 188359 |
| 160000 |  | NR | Mauser Packaging Solutions Holding Co., Senior Secured Notes, 7.875% due 4/15/30(a) | 145400 |
| 85000 |  | B+ | Owens-Brockway Glass Container Inc., Company Guaranteed Notes,<br>6.625% due 5/13/27(a) | 85237 |
|  |  |  | Packaging Corp. of America, Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 12/1/33 | 26630 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 10/1/51 | 16529 |
| 135000 |  | BB+ | Sealed Air Corp., Company Guaranteed Notes, 4.000% due 12/1/27(a) | 134810 |
| 239000 |  | BBB- | Sonoco Products Co., Senior Unsecured Notes, 3.125% due 5/1/30 | 226755 |
| 100000 |  | BB- | TriMas Corp., Company Guaranteed Notes, 4.125% due 4/15/29(a) | 98211 |
| 415000 |  | B | Trivium Packaging Finance BV, Senior Secured Notes, 8.250% due 7/15/30(a) | 437292 |
|  |  |  | WRKCo Inc., Company Guaranteed Notes: |  |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 6/1/28 | 49707 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 3/15/29 | 25540 |
|  |  |  | Total Packaging & Containers | 3321661 |
| **Pharmaceuticals - 0.8%** | **Pharmaceuticals - 0.8%** | **Pharmaceuticals - 0.8%** | **Pharmaceuticals - 0.8%** |  |
| 255000 |  | B | 1261229 BC Ltd., Senior Secured Notes, 10.000% due 4/15/32(a) | 263846 |
|  |  |  | AbbVie Inc., Senior Unsecured Notes: |  |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 3/15/27 | 101122 |
| 400000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 3/15/29 | 410630 |
| 1430000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 11/21/29 | 1387456 |
| 180000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 3/15/31 | 187041 |
| 240000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 3/15/34 | 248998 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 3/15/35 | 199277 |
| 200000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 5/14/35 | 198527 |
| 10000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 11/14/48 | 9317 |
| 840000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 11/21/49 | 709618 |
| 75000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 3/15/54 | 74816 |
| 500000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 3/15/55 | 514487 |
| 50000 |  | BB- | AdaptHealth LLC, Company Guaranteed Notes, 4.625% due 8/1/29(a) | 48290 |
| 50000 |  | A+ | Astrazeneca Finance LLC, Company Guaranteed Notes, 5.000% due 2/26/34 | 52140 |
|  |  |  | AstraZeneca PLC, Senior Unsecured Notes: |  |
| 25000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 9/18/42 | 21929 |
| 25000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 11/16/45 | 22454 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Pharmaceuticals - 0.8% - (continued)** | **Pharmaceuticals - 0.8% - (continued)** | **Pharmaceuticals - 0.8% - (continued)** |  |
| $25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 8/17/48 | $22314 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 8/6/50 | 14414 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 5/28/51 | 17386 |
|  |  | Becton Dickinson & Co., Senior Unsecured Notes: |  |
| 243000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.693% due 2/13/28 | 246164 |
| 27000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.685% due 12/15/44 | 24223 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.669% due 6/6/47 | 22150 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.794% due 5/20/50 | 19171 |
|  |  | Bristol-Myers Squibb Co., Senior Unsecured Notes: |  |
| 273000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 2/22/31 | 285586 |
| 770000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 2/22/34 | 808340 |
| 98000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 6/15/39 | 90361 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.550% due 3/15/42 | 40907 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 11/15/47 | 43278 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 2/20/48 | 44160 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 10/26/49 | 41881 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 11/13/50 | 30406 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 3/15/52 | 37811 |
| 1349000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 2/22/54 | 1363880 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 3/15/62 | 37106 |
|  |  | CVS Health Corp., Senior Unsecured Notes: |  |
| 150000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 3/25/28 | 150436 |
| 150000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 1/30/29 | 153497 |
| 394000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 9/15/31 | 346626 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.780% due 3/25/38 | 95096 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 7/20/45 | 91664 |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 3/25/48 | 179564 |
|  |  | Eli Lilly & Co., Senior Unsecured Notes: |  |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 2/9/27 | 100830 |
| 595000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 2/9/34 | 606732 |
| 200000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 8/14/34 | 202595 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 10/15/35 | 102796 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 3/15/49 | 20592 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 2/27/53 | 23476 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 2/9/54 | 47817 |
| 100000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 10/15/55 | 103308 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 3/15/59 | 20305 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 2/27/63 | 23297 |
| 475000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 2/9/64 | 450896 |
| 800000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650% due 10/15/65 | 828600 |
| 50000 | A | GlaxoSmithKline Capital Inc., Company Guaranteed Notes, 6.375% due 5/15/38 | 56925 |
|  |  | Johnson & Johnson, Senior Unsecured Notes: |  |
| 100000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550% due 3/1/28 | 101870 |
| 50000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 6/1/34 | 52947 |
| 50000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/1/35 | 52498 |
| 50000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 3/3/37 | 45845 |
| 50000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 3/1/46 | 41285 |
| 50000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 6/1/54 | 51209 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Pharmaceuticals - 0.8% - (continued)** | **Pharmaceuticals - 0.8% - (continued)** | **Pharmaceuticals - 0.8% - (continued)** |  |
| $25000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 9/1/60 | $14249 |
|  |  | Merck & Co., Inc., Senior Unsecured Notes: |  |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 3/7/39 | 22612 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 9/15/42 | 20605 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 5/18/43 | 44019 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 2/10/45 | 40682 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/7/49 | 40955 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 6/24/50 | 30270 |
| 390000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 12/10/51 | 248353 |
| 100000 | AA- | Novartis Capital Corp., Company Guaranteed Notes, 3.800% due 9/18/29 | 99779 |
| 255000 | BB | Organon & Co./Organon Foreign Debt Co.-Issuer BV, Senior Secured Notes,<br>4.125% due 4/30/28(a) | 248725 |
|  |  | Pfizer Inc., Senior Unsecured Notes: |  |
| 160000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625% due 4/1/30 | 151383 |
| 140000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.700% due 5/28/30 | 127018 |
| 910000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 11/15/35 | 921235 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 12/15/36 | 23688 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 3/15/39 | 22454 |
|  |  | Pfizer Investment Enterprises Pte Ltd., Company Guaranteed Notes: |  |
| 200000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 5/19/33 | 203973 |
| 200000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 5/19/53 | 193987 |
| 158000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.340% due 5/19/63 | 150055 |
| 256000 | BBB+ | Takeda Pharmaceutical Co., Ltd., Senior Unsecured Notes, 2.050% due 3/31/30 | 234469 |
| 175000 | BB | Teva Pharmaceutical Finance Netherlands III BV, Company Guaranteed Notes,<br>8.125% due 9/15/31 | 201557 |
| 25000 | BB+ | Utah Acquisition Sub Inc., Company Guaranteed Notes, 5.250% due 6/15/46 | 20722 |
| 50000 | BB+ | Viatris Inc., Company Guaranteed Notes, 4.000% due 6/22/50 | 33554 |
| 50000 | A | Wyeth LLC, Company Guaranteed Notes, 5.950% due 4/1/37 | 54669 |
|  |  | Zoetis Inc., Senior Unsecured Notes: |  |
| 160000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 8/17/35 | 162859 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 2/1/43 | 23257 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 9/12/47 | 20472 |
|  |  | Total Pharmaceuticals | 14945793 |
| **Pipelines - 1.3%** | **Pipelines - 1.3%** | **Pipelines - 1.3%** |  |
| 235000 | BB+ | Antero Midstream Partners LP/Antero Midstream Finance Corp., Company Guaranteed Notes, 5.750% due 1/15/28(a) | 235440 |
| 155000 | B+ | Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Unsecured Notes,<br>7.250% due 7/15/32(a) | 164935 |
|  |  | Buckeye Partners LP, Senior Unsecured Notes: |  |
| 130000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 12/1/27 | 128668 |
| 135000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 7/1/29(a) | 140717 |
|  |  | Cheniere Corpus Christi Holdings LLC, Senior Secured Notes: |  |
| 72000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 6/30/27 | 72738 |
| 199000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 11/15/29 | 194625 |
| 260000 | BBB | Cheniere Energy Inc., Senior Unsecured Notes, 4.625% due 10/15/28 | 260017 |
|  |  | Cheniere Energy Partners LP, Company Guaranteed Notes: |  |
| 72000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 10/1/29 | 72001 |
| 143000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/1/31 | 138970 |
| 436000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 1/31/32 | 400993 |
| 105000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 6/30/33 | 111626 |
| 600000 | Baa1(b) | Columbia Pipelines Operating Co. LLC, Senior Unsecured Notes, 6.036% due 11/15/33(a) | 644570 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Pipelines - 1.3% - (continued)** | **Pipelines - 1.3% - (continued)** | **Pipelines - 1.3% - (continued)** |  |
|  |  | DT Midstream Inc., Company Guaranteed Notes: |  |
| $180000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 6/15/29(a) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176769 |
| 55000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 6/15/31(a) | 53815 |
| 50000 | A- | Eastern Energy Gas Holdings LLC, Senior Unsecured Notes, 6.200% due 1/15/55 | 52698 |
|  |  | Enbridge Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 8/1/33 | 43025 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 4/5/34 | 26266 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 8/1/51 | 34676 |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.700% due 11/15/53 | 55940 |
| 725000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 5.750% (5-Year CMT Index + 5.314%) due 7/15/80(d) | 735231 |
|  |  | Energy Transfer LP: |  |
| 240000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 5.250% due 4/15/29 | 247049 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes: |  |
| 405000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000% (5-Year CMT Index + 4.020%) due 5/15/54(d) | 432184 |
| 380000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% (5-Year CMT Index + 2.676%) due 2/15/56(d) | 375109 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 49000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 6/1/27 | 49759 |
| 76000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 2/15/28 | 78229 |
| 30000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 6/15/28 | 30526 |
| 800000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 5/15/30 | 780770 |
| 280000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 5/15/34 | 289468 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 6/15/38 | 25803 |
| 340000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 4/1/44 | 312112 |
| 18000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 4/15/47 | 16263 |
| 750000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 4/15/49 | 754712 |
| 147000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 5/15/50 | 125121 |
| 675000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 4/1/55 | 674380 |
|  |  | Enterprise Products Operating LLC, Company Guaranteed Notes: |  |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 1/11/27 | 100713 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 2/15/27 | 100046 |
| 660000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 10/16/28 | 664154 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 1/31/34 | 50917 |
| 150000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650% due 10/15/34 | 170933 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 2/15/35 | 50870 |
| 110000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 1/15/36 | 112910 |
| 250000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 3/15/44 | 232947 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 2/15/45 | 23956 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/15/48 | 20978 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 2/1/49 | 45154 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 1/31/50 | 41084 |
| 130000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 1/31/51 | 97539 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 2/15/52 | 17027 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 2/15/53 | 17184 |
| 670000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 2/16/55 | 663955 |
| 180000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 1/31/60 | 135158 |
| 60000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% (3-Month Term SOFR + 2.832%) due 2/15/78(d) | 60054 |
| 105000 | B | Genesis Energy LP/Genesis Energy Finance Corp., Company Guaranteed Notes,<br>7.750% due 2/1/28 | 105781 |
| 100000 | BB- | Harvest Midstream I LP, Senior Unsecured Notes, 7.500% due 5/15/32(a) | 103990 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Pipelines - 1.3% - (continued)** | **Pipelines - 1.3% - (continued)** | **Pipelines - 1.3% - (continued)** |  |
|  |  | Hess Midstream Operations LP, Company Guaranteed Notes: |  |
| $145000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 3/1/28(a) | $147537 |
| 5000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 6/15/28(a) | 5004 |
| 70000 | BB- | Howard Midstream Energy Partners LLC, Senior Unsecured Notes, 7.375% due 7/15/32(a) | 73940 |
| 25000 | BBB | Kinder Morgan Energy Partners LP, Company Guaranteed Notes, 6.950% due 1/15/38 | 28460 |
|  |  | Kinder Morgan Inc., Company Guaranteed Notes: |  |
| 110000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 2/1/29 | 112773 |
| 170000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 6/1/30 | 176207 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 6/1/45 | 48893 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 3/1/48 | 23176 |
| 55000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 8/1/50 | 36853 |
| 82000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 2/15/51 | 58474 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 8/1/52 | 23698 |
| 705000 | BB+ | Kinetik Holdings LP, Company Guaranteed Notes, 5.875% due 6/15/30(a) | 711106 |
|  |  | MPLX LP, Senior Unsecured Notes: |  |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 3/1/27 | 99925 |
| 850000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 2/15/29 | 864248 |
| 180000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 2/15/31 | 182344 |
| 130000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 4/15/38 | 119354 |
| 140000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 4/15/48 | 117686 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 2/15/49 | 46448 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 3/14/52 | 42682 |
| 555000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 9/15/55 | 561759 |
| 100000 | B+ | NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes,<br>8.125% due 2/15/29(a) | 102949 |
| 100000 | BB- | Northriver Midstream Finance LP, Senior Secured Notes, 6.750% due 7/15/32(a) | 101935 |
| 74000 | BBB+ | Northwest Pipeline LLC, Senior Unsecured Notes, 4.000% due 4/1/27 | 73921 |
| 95000 | Ba1(b) | NuStar Logistics LP, Company Guaranteed Notes, 6.375% due 10/1/30 | 99593 |
|  |  | ONEOK Inc., Company Guaranteed Notes: |  |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 11/1/30 | 211264 |
| 165000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.050% due 9/1/33 | 176317 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 11/1/34 | 24883 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 10/15/43 | 23097 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 7/15/48 | 91193 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 2/1/49 | 21579 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 3/1/50 | 36764 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 3/15/50 | 20627 |
| 105000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 9/1/53 | 111085 |
| 25000 | BBB | ONEOK Partners LP, Company Guaranteed Notes, 6.650% due 10/1/36 | 27495 |
| 150020 | B2(b) | Peru LNG Srl, Senior Unsecured Notes, 5.375% due 3/22/30(a) | 144951 |
| 150000 | BBB | Plains All American Pipeline LP/PAA Finance Corp., Senior Unsecured Notes,<br>4.500% due 12/15/26 | 150447 |
| 500000 | B- | Prairie Acquiror LP, Senior Secured Notes, 9.000% due 8/1/29(a) | 517707 |
| 200000 | BB | Rockies Express Pipeline LLC, Senior Unsecured Notes, 4.950% due 7/15/29(a) | 200209 |
|  |  | Sabine Pass Liquefaction LLC, Senior Secured Notes: |  |
| 46000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/15/27 | 46274 |
| 40000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 3/15/28 | 40080 |
| 130300 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 9/15/37 | 138146 |
| 1120000 | BBB- | South Bow USA Infrastructure Holdings LLC, Company Guaranteed Notes, 5.026% due 10/1/29 | 1137276 |
| 25000 | BBB+ | Spectra Energy Partners LP, Company Guaranteed Notes, 4.500% due 3/15/45 | 21629 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Pipelines - 1.3% - (continued)** | **Pipelines - 1.3% - (continued)** | **Pipelines - 1.3% - (continued)** | **Pipelines - 1.3% - (continued)** |  |
|  |  |  | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Company Guaranteed Notes: |  |
| $110000 |  | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/15/28(a) | $110016 |
| 890000 |  | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 12/31/30(a) | 887687 |
|  |  |  | Targa Resources Corp., Company Guaranteed Notes: |  |
| 72000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.150% due 3/1/29 | 75982 |
| 130000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 2/1/33 | 124850 |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 2/15/53 | 52837 |
|  |  |  | Targa Resources Partners LP/Targa Resources Partners Finance Corp., Company Guaranteed Notes: |  |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 1/15/28 | 100019 |
| 20000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 1/15/29 | 20287 |
| 113000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/1/30 | 115020 |
| 489000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 2/1/31 | 491452 |
| 40000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 1/15/32 | 38232 |
| 25000 |  | BBB+ | TransCanada PipeLines Ltd., Senior Unsecured Notes, 5.100% due 3/15/49 | 23577 |
| 420000 |  | BBB- | Transcanada Trust, Company Guaranteed Notes, 5.500% (SOFR + 4.416%) due 9/15/79(d) | 417052 |
|  |  |  | Transcontinental Gas Pipe Line Co. LLC, Senior Unsecured Notes: |  |
| 137000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/15/28 | 136875 |
| 138000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 3/15/48 | 121671 |
|  |  |  | Venture Global Calcasieu Pass LLC, Senior Secured Notes: |  |
| 220000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/15/29(a) | 207024 |
| 120000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 11/1/33(a) | 105158 |
|  |  |  | Venture Global LNG Inc.: |  |
| 380000 |  | B- | &nbsp;&nbsp;&nbsp;&nbsp; Junior Subordinated Notes, 9.000% (5-Year CMT Index + 5.440%)(a)(d)(e) | 323750 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes: |  |
| 200000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125% due 6/1/28(a) | 204994 |
| 725000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500% due 2/1/29(a) | 765086 |
| 330000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 1/15/30(a)(f) | 323974 |
| 95000 |  | BB+ | Venture Global Plaquemines LNG LLC, Senior Secured Notes, 6.500% due 1/15/34(a) | 98321 |
|  |  |  | Western Midstream Operating LP, Senior Unsecured Notes: |  |
| 630000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 2/1/30 | 619816 |
| 115000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 2/1/50 | 100145 |
| 50000 |  | BBB+ | Williams Cos., Inc. (The), Senior Unsecured Notes, 6.000% due 3/15/55 | 51802 |
|  |  |  | Total Pipelines | 23266170 |
| **Private Equity - 0.1%** | **Private Equity - 0.1%** | **Private Equity - 0.1%** | **Private Equity - 0.1%** |  |
|  |  |  | Brookfield Finance Inc., Company Guaranteed Notes: |  |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900% due 1/25/28 | 49830 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 3/29/29 | 25459 |
| 900000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.330% due 1/15/36 | 907231 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.968% due 3/4/54 | 51057 |
| 25000 |  | A- | Brookfield Finance LLC/Brookfield Finance Inc., Company Guaranteed Notes,<br>3.450% due 4/15/50 | 17436 |
|  |  |  | Total Private Equity | 1051013 |
| **Real Estate - 0.1%** | **Real Estate - 0.1%** | **Real Estate - 0.1%** | **Real Estate - 0.1%** |  |
| 1000000 | <sup>EUR</sup> | BBB | Aroundtown SA, Senior Unsecured Notes, (Cost - $1,165,400, acquired 10/20/25), 3.500% due 5/13/30(c) | 1152473 |
| 490000 | <sup>EUR</sup> | Ba1(b) | Castellum AB, Junior Subordinated Notes, (Cost - $494,517, acquired 12/4/24),<br>3.125% (3.454% - 5-Year EUR Swap Rate)(c)(e)(i) | 561796 |
|  |  |  | Total Real Estate | 1714269 |
| **Real Estate Investment Trusts (REITs) - 0.8%** | **Real Estate Investment Trusts (REITs) - 0.8%** | **Real Estate Investment Trusts (REITs) - 0.8%** | **Real Estate Investment Trusts (REITs) - 0.8%** |  |
|  |  |  | Alexandria Real Estate Equities Inc., Company Guaranteed Notes: |  |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 1/15/27 | 24939 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** |  |
| $25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 1/15/28 | $24867 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 7/30/29 | 25085 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 2/1/33 | 20574 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 4/15/35 | 24281 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.550% due 3/15/52 | 34096 |
| 370000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 4/15/53 | 327566 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 5/15/54 | 23590 |
|  |  |  | American Homes 4 Rent LP, Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/15/28 | 25059 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 4/15/32 | 23648 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 2/1/34 | 25925 |
|  |  |  | American Tower Corp., Senior Unsecured Notes: |  |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 3/15/27 | 49667 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800% due 11/15/28 | 104431 |
| 86000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 8/15/29 | 84743 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 6/15/30 | 90902 |
| 112000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 10/15/30 | 99886 |
| 106000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 4/15/31 | 97406 |
| 47000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.300% due 9/15/31 | 41901 |
| 1865000 |  | NR | Arbor Realty SR Inc., Company Guaranteed Notes, 5.000% due 12/30/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722124 |
|  |  |  | AvalonBay Communities Inc., Senior Unsecured Notes: |  |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 6/1/29 | 24392 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.300% due 3/1/30 | 23216 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 2/15/33 | 25774 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 12/7/33 | 26225 |
|  |  |  | Boston Properties LP, Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 12/1/28 | 25147 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 6/21/29 | 24157 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 1/30/31 | 23444 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 10/1/33 | 20731 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 1/15/34 | 27047 |
| 80000 |  | BB+ | Brandywine Operating Partnership LP, Company Guaranteed Notes,<br>8.875% due 4/12/29 | 86713 |
| 25000 |  | BBB | Brixmor Operating Partnership LP, Senior Unsecured Notes, 5.500% due 2/15/34 | 25928 |
| 25000 |  | A- | Camden Property Trust, Senior Unsecured Notes, 4.900% due 1/15/34 | 25460 |
|  |  |  | Crown Castle Inc., Senior Unsecured Notes: |  |
| 109000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 1/11/28 | 110662 |
| 113000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 2/15/28 | 111894 |
| 69000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 11/15/29 | 65885 |
| 83000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 1/15/31 | 74316 |
| 66000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 4/1/31 | 58211 |
| 80000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 7/15/31 | 71669 |
| 25000 |  | BBB | CubeSmart LP, Company Guaranteed Notes, 2.500% due 2/15/32 | 22181 |
| 300000 | <sup>EUR</sup> | BBB+ | Digital Intrepid Holding BV, Company Guaranteed Notes, (Cost - $250,519, acquired 5/30/23), 0.625% due 7/15/31(c) | 297366 |
| 25000 |  | BBB+ | Digital Realty Trust LP, Company Guaranteed Notes, 5.550% due 1/15/28 | 25737 |
|  |  |  | EPR Properties, Senior Unsecured Notes: |  |
| 25000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 8/15/29 | 24218 |
| 305000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 11/15/31 | 283979 |
| 530000 |  | BBB+ | Equinix Europe 2 Financing Corp. LLC, Company Guaranteed Notes,<br>4.600% due 11/15/30 | 533594 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** |  |
|  |  | Equinix Inc., Senior Unsecured Notes: |  |
| $130000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.550% due 3/15/28 | $122903 |
| 183000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 5/15/28 | 174435 |
| 183000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 11/18/29 | 175895 |
| 170000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 5/15/31 | 154190 |
|  |  | ERP Operating LP, Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 3/1/28 | 24762 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 12/1/28 | 25139 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 7/1/29 | 24127 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 2/15/30 | 23483 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.850% due 8/1/31 | 22035 |
| 1331000 | BBB- | Essential Properties LP, Company Guaranteed Notes, 2.950% due 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216835 |
|  |  | Essex Portfolio LP, Company Guaranteed Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 5/1/27 | 24887 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/1/29 | 24888 |
| 170000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 4/1/34 | 177476 |
| 106000 | BBB+ | Extra Space Storage LP, Company Guaranteed Notes, 5.700% due 4/1/28 | 109645 |
|  |  | GLP Capital LP/GLP Financing II Inc., Company Guaranteed Notes: |  |
| 87000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 1/15/29 | 88662 |
| 267000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 1/15/30 | 258992 |
| 65000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 1/15/31 | 62336 |
| 86000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 1/15/32 | 77758 |
| 25000 | BBB+ | Healthpeak OP LLC, Company Guaranteed Notes, 2.875% due 1/15/31 | 23187 |
| 25000 | BBB- | Host Hotels & Resorts LP, Senior Unsecured Notes, 2.900% due 12/15/31 | 22514 |
| 146000 | BBB | Invitation Homes Operating Partnership LP, Company Guaranteed Notes,<br>2.300% due 11/15/28 | 138808 |
| 495000 | BB- | Iron Mountain Inc., Company Guaranteed Notes, 4.875% due 9/15/27(a) | 493624 |
| 1530000 | BB- | Iron Mountain Information Management Services Inc., Company Guaranteed Notes,<br>5.000% due 7/15/32(a) | 1474816 |
|  |  | Kilroy Realty LP, Company Guaranteed Notes: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 8/15/29 | 24566 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 11/15/33 | 20594 |
|  |  | Kimco Realty OP LLC, Company Guaranteed Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 4/1/27 | 24960 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 4/1/32 | 23388 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 2/1/33 | 25058 |
| 65000 | BB | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., Company Guaranteed Notes, 7.000% due 7/15/31(a) | 68957 |
| 25000 | A- | Mid-America Apartments LP, Senior Unsecured Notes, 5.000% due 3/15/34 | 25496 |
|  |  | NNN REIT Inc., Senior Unsecured Notes: |  |
| 124000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 4/15/50 | 82168 |
| 238000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 4/15/51 | 170512 |
|  |  | Omega Healthcare Investors Inc., Company Guaranteed Notes: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/15/28 | 25236 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 10/1/29 | 24151 |
|  |  | Piedmont Operating Partnership LP, Company Guaranteed Notes: |  |
| 153000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250% due 7/20/28 | 169597 |
| 765000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 4/1/32 | 657431 |
|  |  | Prologis LP, Senior Unsecured Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 6/15/28 | 25603 |
| 147000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 4/15/30 | 136424 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** |  |
| $25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 1/15/33 | $25367 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 1/15/34 | 25841 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/15/34 | 25630 |
| 140000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 10/15/50 | 77137 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 6/15/53 | 24170 |
|  |  | Public Storage Operating Co., Company Guaranteed Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.850% due 5/1/28 | 23853 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.385% due 5/1/29 | 24563 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 11/9/31 | 22365 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 8/1/33 | 26086 |
|  |  | Realty Income Corp., Senior Unsecured Notes: |  |
| 57000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 12/15/29 | 54954 |
| 74000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 1/15/31 | 70417 |
| 134000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 2/15/34 | 138408 |
|  |  | Regency Centers LP, Company Guaranteed Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 2/1/27 | 24879 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 1/15/34 | 25921 |
|  |  | RHP Hotel Properties LP/RHP Finance Corp., Company Guaranteed Notes: |  |
| 265000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 10/15/27 | 264598 |
| 110000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 4/1/32(a) | 114105 |
| 170000 | BB+ | SBA Communications Corp., Senior Unsecured Notes, 3.125% due 2/1/29 | 162638 |
|  |  | Simon Property Group LP, Senior Unsecured Notes: |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 6/15/27 | 49642 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 12/1/27 | 49527 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 9/13/29 | 47295 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 7/15/30 | 46936 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.200% due 2/1/31 | 22629 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 1/15/32 | 22140 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 2/1/32 | 22597 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/8/33 | 26536 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 1/15/34 | 27597 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 9/13/49 | 35087 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 7/15/50 | 19158 |
| 120000 | BB- | Starwood Property Trust Inc., Senior Unsecured Notes, 7.250% due 4/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127325 |
|  |  | UDR Inc., Company Guaranteed Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 8/15/31 | 23213 |
| 255000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.100% due 8/1/32 | 219413 |
| 170000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 9/1/34 | 174008 |
|  |  | Ventas Realty LP, Company Guaranteed Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/1/28 | 24955 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 1/15/29 | 25140 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 1/15/30 | 23838 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 4/15/49 | 22215 |
| 312000 | BBB- | VICI Properties LP, Senior Unsecured Notes, 4.750% due 2/15/28 | 315228 |
| 160000 | BBB- | VICI Properties LP/VICI Notes Co., Inc., Company Guaranteed Notes, 4.500% due 1/15/28(a) | 160440 |
|  |  | Welltower OP LLC, Company Guaranteed Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 2/15/27 | 24659 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.050% due 1/15/29 | 23573 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** | **Real Estate Investment Trusts (REITs) - 0.8% - (continued)** |  |
| $25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 3/15/29 | $25077 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 1/15/30 | 24046 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 1/15/31 | 23325 |
| 25000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 1/15/32 | 22829 |
|  |  |  | Weyerhaeuser Co., Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 11/15/29 | 24812 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/9/52 | 19672 |
|  |  |  | Total Real Estate Investment Trusts (REITs) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14158018 |
| **Retail - 0.3%** | **Retail - 0.3%** | **Retail - 0.3%** | **Retail - 0.3%** |  |
| 110000 |  | BB | Asbury Automotive Group Inc., Company Guaranteed Notes, 4.625% due 11/15/29(a) | 107995 |
| 50000 |  | BBB | AutoZone Inc., Senior Unsecured Notes, 5.400% due 7/15/34 | 52171 |
| 325000 |  | BB+ | Bath & Body Works Inc., Company Guaranteed Notes, 7.500% due 6/15/29 | 331845 |
| 25000 |  | BBB | Dick's Sporting Goods Inc., Senior Unsecured Notes, 4.100% due 1/15/52 | 18527 |
| 25000 |  | BBB | Dollar General Corp., Senior Unsecured Notes, 4.125% due 4/3/50 | 19936 |
| 340000 | <sup>EUR</sup> | BB+ | Dufry One BV, Senior Unsecured Notes, (Cost - $402,402, acquired 7/9/25),<br>4.500% due 5/23/32(c) | 405586 |
| 130000 |  | BB | Gap Inc. (The), Company Guaranteed Notes, 3.625% due 10/1/29(a) | 123487 |
| 55000 |  | BB+ | Group 1 Automotive Inc., Company Guaranteed Notes, 4.000% due 8/15/28(a) | 53923 |
|  |  |  | Home Depot Inc. (The), Senior Unsecured Notes: |  |
| 100000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 6/15/29 | 96896 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 12/16/36 | 54675 |
| 70000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 4/15/40 | 57972 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 4/1/43 | 22010 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 2/15/44 | 23711 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 3/15/45 | 22163 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 4/1/46 | 43169 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 12/6/48 | 43947 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 12/15/49 | 34780 |
| 180000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 4/15/50 | 130200 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 3/15/51 | 29331 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 9/15/51 | 31574 |
| 50000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 4/15/52 | 37364 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 9/15/52 | 23315 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 9/15/56 | 17861 |
| 105000 |  | BB+ | Lithia Motors Inc., Senior Unsecured Notes, 3.875% due 6/1/29(a) | 101253 |
|  |  |  | Lowe's Cos., Inc., Senior Unsecured Notes: |  |
| 405000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 4/5/29 | 399216 |
| 284000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.700% due 10/15/30 | 252340 |
| 91000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625% due 4/1/31 | 83691 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 5/3/47 | 40270 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 10/15/50 | 32412 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 4/1/52 | 20064 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 4/15/53 | 49507 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 4/1/62 | 19983 |
|  |  |  | Macy's Retail Holdings LLC, Company Guaranteed Notes: |  |
| 360000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 3/15/30(a)(f) | 361323 |
| 95000 |  | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 3/15/32(a) | 95558 |
|  |  |  | McDonald's Corp., Senior Unsecured Notes: |  |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 3/1/27 | 99457 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Retail - 0.3% - (continued)** | **Retail - 0.3% - (continued)** | **Retail - 0.3% - (continued)** |  |
| $25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 12/9/35 | $25108 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.300% due 3/1/38 | 28056 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 9/1/48 | 21674 |
| 70000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 9/1/49 | 52544 |
| 425000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 4/1/50 | 351264 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 9/9/52 | 23700 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 8/14/53 | 24806 |
| 120000 | BB+ | Nordstrom Inc., Senior Secured Notes, 4.375% due 4/1/30 | 113398 |
| 115000 | BB- | Penske Automotive Group Inc., Company Guaranteed Notes, 3.750% due 6/15/29 | 111285 |
| 925000 | BB- | PetSmart LLC/PetSmart Finance Corp., Senior Secured Notes, 7.500% due 9/15/32(a) | 934396 |
| 165000 | BB- | Sonic Automotive Inc., Company Guaranteed Notes, 4.625% due 11/15/29(a) | 161474 |
|  |  | Starbucks Corp., Senior Unsecured Notes: |  |
| 50000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 2/15/31 | 51666 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 12/1/47 | 19136 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 11/15/48 | 21362 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 8/15/49 | 21194 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 3/12/50 | 17506 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 11/15/50 | 17893 |
| 80000 | BB- | Superior Plus LP/Superior General Partner Inc., Company Guaranteed Notes,<br>4.500% due 3/15/29(a) | 77437 |
|  |  | Target Corp., Senior Unsecured Notes: |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 9/15/32 | 50628 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 7/1/42 | 21428 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 4/15/46 | 19490 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 1/15/52 | 32548 |
|  |  | Walmart Inc., Senior Unsecured Notes: |  |
| 90000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 9/22/28 | 85059 |
| 40000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.800% due 9/22/31 | 35731 |
| 100000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 4/15/33 | 100401 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 4/15/38 | 28585 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 6/28/38 | 23606 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 4/15/41 | 26915 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 9/22/41 | 18299 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 12/15/47 | 19908 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.050% due 6/29/48 | 42568 |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 9/24/49 | 17509 |
| 50000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 9/22/51 | 32201 |
|  |  | Total Retail | 5966287 |
| **Semiconductors - 0.4%** | **Semiconductors - 0.4%** | **Semiconductors - 0.4%** |  |
| 50000 | BB | Amkor Technology Inc., Company Guaranteed Notes, 5.875% due 10/1/33(a) | 50963 |
|  |  | Analog Devices Inc., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 10/1/41 | 18675 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 10/1/51 | 16522 |
|  |  | Applied Materials Inc., Senior Unsecured Notes: |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 4/1/27 | 49705 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 6/15/41 | 26945 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 4/1/47 | 22047 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Semiconductors - 0.4% - (continued)** | **Semiconductors - 0.4% - (continued)** | **Semiconductors - 0.4% - (continued)** |  |
|  |  | Broadcom Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| $377000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 11/15/30 | $376885 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 2/15/41 | 41575 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 2/15/51 | 77708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 170000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 4/15/32(a) | 167859 |
| 230000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 7/15/32 | 236723 |
| 100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.469% due 4/15/34 | 92284 |
| 1054000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.137% due 11/15/35(a) | 923518 |
| 10000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.187% due 11/15/36(a) | 8640 |
| 108000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.926% due 5/15/37(a) | 108594 |
|  |  | Foundry JV Holdco LLC, Senior Secured Notes: |  |
| 320000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 1/25/34(a) | 332054 |
| 2300000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 1/25/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454964 |
|  |  | Intel Corp., Senior Unsecured Notes: |  |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.450% due 11/15/29 | 93453 |
| 735000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 11/15/49 | 484197 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 3/25/50 | 84353 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 8/5/52 | 42705 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 2/10/53 | 47964 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 2/21/54 | 23854 |
| 64000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 2/10/63 | 61887 |
|  |  | KLA Corp., Senior Unsecured Notes: |  |
| 258000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 3/15/29 | 258961 |
| 50000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 7/15/62 | 47939 |
|  |  | Lam Research Corp., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 3/15/49 | 23371 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 6/15/60 | 16107 |
|  |  | Marvell Technology Inc.: |  |
| 55000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 4.750% due 7/15/30 | 55855 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 2/15/29 | 26134 |
| 175000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 7/15/35 | 181040 |
|  |  | Micron Technology Inc., Senior Unsecured Notes: |  |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.663% due 2/15/30 | 25328 |
| 100000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 2/9/33 | 106555 |
| 25000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 9/15/33 | 26712 |
|  |  | NVIDIA Corp., Senior Unsecured Notes: |  |
| 25000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 4/1/40 | 21537 |
| 50000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 4/1/50 | 38167 |
| 296000 | BBB+ | NXP BV/NXP Funding LLC/NXP USA Inc., Company Guaranteed Notes,<br>2.500% due 5/11/31 | 268102 |
| 70000 | BB | ON Semiconductor Corp., Company Guaranteed Notes, 3.875% due 9/1/28(a) | 68308 |
|  |  | QUALCOMM Inc., Senior Unsecured Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.150% due 5/20/30 | 23070 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 5/20/45 | 23322 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 5/20/50 | 17715 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 5/20/52 | 21608 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 5/20/53 | 26848 |
| 105000 | BB- | Synaptics Inc., Company Guaranteed Notes, 4.000% due 6/15/29(a) | 100983 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Semiconductors - 0.4% - (continued)** | **Semiconductors - 0.4% - (continued)** | **Semiconductors - 0.4% - (continued)** |  |
|  |  | Texas Instruments Inc., Senior Unsecured Notes: |  |
| $25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 3/15/39 | $22572 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 5/15/48 | 42049 |
| 62000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 5/18/63 | 57062 |
|  |  | Total Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7343419 |
| **Shipbuilding - 0.0%@** | **Shipbuilding - 0.0%@** | **Shipbuilding - 0.0%@** |  |
| 137000 | BBB- | Huntington Ingalls Industries Inc., Company Guaranteed Notes, 2.043% due 8/16/28 | 129525 |
| **Software - 0.5%** | **Software - 0.5%** | **Software - 0.5%** |  |
| 50000 | A+ | Adobe Inc., Senior Unsecured Notes, 2.300% due 2/1/30 | 46907 |
| 500000 | CCC | AthenaHealth Group Inc., Senior Unsecured Notes, 6.500% due 2/15/30(a) | 497051 |
| 90000 | BBB+ | Autodesk Inc., Senior Unsecured Notes, 2.850% due 1/15/30 | 85330 |
| 750000 | B | Cloud Software Group Inc., Senior Secured Notes, 8.250% due 6/30/32(a) | 791406 |
| 25000 | BBB- | Concentrix Corp., Senior Unsecured Notes, 6.600% due 8/2/28 | 25811 |
| 55000 | B | CoreWeave Inc., Company Guaranteed Notes, 9.250% due 6/1/30(a) | 50796 |
| 115000 | BB | Elastic NV, Senior Unsecured Notes, 4.125% due 7/15/29(a) | 111025 |
| 25000 | BB+ | Fair Isaac Corp., Senior Unsecured Notes, 6.000% due 5/15/33(a) | 25759 |
|  |  | Fidelity National Information Services Inc., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.650% due 3/1/28 | 23652 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 3/1/41 | 18811 |
|  |  | Fiserv Inc., Senior Unsecured Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 3/2/28 | 25579 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 8/21/28 | 25640 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 10/1/28 | 24913 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 7/1/29 | 96785 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 6/1/30 | 23007 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 7/1/49 | 39885 |
|  |  | Intuit Inc., Senior Unsecured Notes: |  |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.350% due 7/15/27 | 24066 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 9/15/28 | 25821 |
| 25000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.650% due 7/15/30 | 22501 |
|  |  | Microsoft Corp., Senior Unsecured Notes: |  |
| 55000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 8/8/36 | 50997 |
| 157000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.525% due 6/1/50 | 99328 |
| 50000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 9/15/50 | 31439 |
| 168000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.921% due 3/17/52 | 114297 |
| 50000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 2/6/57 | 45815 |
| 92000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.041% due 3/17/62 | 59670 |
|  |  | Oracle Corp., Senior Unsecured Notes: |  |
| 60000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% due 5/6/30 | 59845 |
| 1570000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 9/26/30 | 1547651 |
| 600000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 3/25/31 | 544178 |
| 46000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 11/9/32 | 48831 |
| 238000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 7/8/34 | 220151 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200% due 9/26/35 | 98043 |
| 37000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 7/15/36 | 31880 |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 11/15/37 | 166444 |
| 88000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 7/15/40 | 82195 |
| 500000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 3/25/41 | 380671 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Software - 0.5% - (continued)** | **Software - 0.5% - (continued)** | **Software - 0.5% - (continued)** |  |
| $76000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 7/15/46 | $55540 |
| 91000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 11/15/47 | 66210 |
| 280000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600% due 4/1/50 | 185403 |
| 317000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 9/27/54 | 271004 |
| 232000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 5/15/55 | 170105 |
| 65000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 8/3/55 | 60439 |
| 1040000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950% due 9/26/55 | 975301 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 4/1/60 | 65305 |
| 135000 | BB | RingCentral Inc., Senior Unsecured Notes, 8.500% due 8/15/30(a) | 143784 |
|  |  | Roper Technologies Inc., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 9/15/29 | 23936 |
| 80000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 9/15/30 | 80504 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 2/15/31 | 21933 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 10/15/34 | 25116 |
|  |  | Salesforce Inc., Senior Unsecured Notes: |  |
| 140000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 7/15/41 | 102937 |
| 50000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900% due 7/15/51 | 32481 |
| 25000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 7/15/61 | 15413 |
| 205000 | B+ | SS&C Technologies Inc., Company Guaranteed Notes, 5.500% due 9/30/27(a) | 205157 |
|  |  | Synopsys Inc., Senior Unsecured Notes: |  |
| 160000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 4/1/30 | 163497 |
| 130000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 4/1/32 | 133407 |
| 132000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 4/1/55 | 132438 |
| 50000 | A- | VMware LLC, Senior Unsecured Notes, 3.900% due 8/21/27 | 49931 |
|  |  | Workday Inc., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 4/1/27 | 24827 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700% due 4/1/29 | 24693 |
|  |  | Total Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8595541 |
| **Telecommunications - 1.3%** | **Telecommunications - 1.3%** | **Telecommunications - 1.3%** |  |
|  |  | AT&T Inc., Senior Unsecured Notes: |  |
| 175000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 3/1/27 | 175364 |
| 100000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.300% due 6/1/27 | 97480 |
| 50000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.650% due 2/1/28 | 47555 |
| 55000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 3/1/29 | 55325 |
| 117000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 6/1/31 | 107855 |
| 83000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 2/15/34 | 86717 |
| 325000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 11/1/35 | 324042 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 3/1/37 | 25578 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900% due 8/15/37 | 24640 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% due 3/1/39 | 24121 |
| 80000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550% due 8/15/41 | 80938 |
| 73000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350% due 6/15/45 | 61545 |
| 132000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 5/15/46 | 117589 |
| 238000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 3/9/48 | 200838 |
| 270000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 9/15/53 | 185939 |
| 1470000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.700% due 11/1/54 | 1443969 |
| 2677000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.550% due 9/15/55 | 1836260 |
| 190000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.050% due 8/15/56 | 196112 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Telecommunications - 1.3% - (continued)** | **Telecommunications - 1.3% - (continued)** | **Telecommunications - 1.3% - (continued)** | **Telecommunications - 1.3% - (continued)** |  |
| $52000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 12/1/57 | $36976 |
| 432000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 9/15/59 | 294783 |
| 18000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 6/1/60 | 12794 |
| 500000 | <sup>GBP</sup> | BB+ | British Telecommunications PLC, Company Guaranteed Notes, (Cost - $681,046, acquired 3/7/24), 8.375% (5-Year UK Government Note Generic Bid Yield + 3.820%) due 12/20/83(c)(d) | 710387 |
| 65000 |  | Ba3(b) | Cipher Compute LLC, Senior Secured Notes, 7.125% due 11/15/30(a) | 66117 |
|  |  |  | Cisco Systems Inc., Senior Unsecured Notes: |  |
| 50000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800% due 2/26/27 | 50599 |
| 100000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 2/26/31 | 104058 |
| 50000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.900% due 2/15/39 | 54605 |
| 50000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/15/40 | 52775 |
| 25000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 2/26/64 | 24328 |
| 505000 |  | B+ | Colombia Telecomunicaciones SA ESP, Senior Unsecured Notes, 4.950% due 7/17/30(a) | 460775 |
|  |  |  | CommScope LLC, Senior Secured Notes: |  |
| 38000 |  | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 9/1/29(a) | 38029 |
| 55000 |  | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500% due 12/15/31(a) | 55842 |
|  |  |  | Corning Inc., Senior Unsecured Notes: |  |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350% due 11/15/48 | 24741 |
| 25000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 11/15/57 | 20614 |
| 200000 |  | B | Digicel International Finance Ltd./Difl US LLC, Senior Secured Notes,<br>8.625% due 8/1/32(a) | 204904 |
| 80000 |  | B | EchoStar Corp., Senior Secured Notes, 10.750% due 11/30/29 | 88275 |
| 370000 | <sup>EUR</sup> | BB+ | Fibercop SpA, Senior Secured Notes, 1.625% due 1/18/29 | 402752 |
| 95000 |  | B | Frontier Communications Holdings LLC, Senior Secured Notes,<br>5.875% due 10/15/27(a) | 95205 |
| 63000 |  | BBB | Juniper Networks Inc., Senior Unsecured Notes, 2.000% due 12/10/30 | 55776 |
| 1065000 |  | B+ | Level 3 Financing Inc., Senior Secured Notes, 7.000% due 3/31/34(a) | 1091811 |
| 600000 | <sup>EUR</sup> | BB+ | Lorca Telecom Bondsco SA, Senior Secured Notes, (Cost - $632,602, acquired 12/3/24), 4.000% due 9/18/27(c) | 697099 |
| 165000 |  | B+ | Lumen Technologies Inc., Senior Secured Notes, 4.125% due 4/15/30(a) | 164414 |
|  |  |  | Motorola Solutions Inc., Senior Unsecured Notes: |  |
| 83000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 5/23/29 | 84069 |
| 37000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 5/24/31 | 33882 |
| 26000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600% due 6/1/32 | 27440 |
| 350000 |  | BBB- | Nokia OYJ, Senior Unsecured Notes, 6.625% due 5/15/39 | 376278 |
|  |  |  | NTT Finance Corp., Senior Unsecured Notes: |  |
| 1500000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.876% due 7/16/30(a) | 1532847 |
| 1155000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.171% due 7/16/32(a) | 1191362 |
|  |  |  | Rogers Communications Inc.: |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 100000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 3/15/27 | 98694 |
| 240000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 2/15/34 | 243409 |
| 165000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes, 7.125% (5-Year CMT Index + 2.620%) due 4/15/55(d) | 174741 |
| 715000 | <sup>EUR</sup> | Ba2(b) | SES SA, Company Guaranteed Notes, (Cost - $809,356, acquired 6/11/25),<br>5.500% (5-Year EURIBOR ICE Swap + 3.232%) due 9/12/54(c)(d) | 808111 |
| 750000 |  | Aa2(b) | Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes, 5.152% due 3/20/28(a) | 757400 |
| 150000 |  | BBB- | Telefonica Emisiones SA, Company Guaranteed Notes, 5.213% due 3/8/47 | 134024 |
| 400000 | <sup>EUR</sup> | BB | Telefonica Europe BV, Company Guaranteed Notes, (Cost - $450,953, acquired 3/7/24), 6.135% (7-Year EUR Swap Rate + 3.347%)(c)(d)(e) | 495689 |
| 650000 |  | BB | TELUS Corp., Junior Subordinated Notes, 7.000%<br>(5-Year CMT Index + 2.709%) due 10/15/55(d) | 678987 |
|  |  |  | T-Mobile USA Inc., Company Guaranteed Notes: |  |
| 152000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 4/15/27 | 151334 |
| 110000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625% due 2/15/29 | 104965 |
| 300000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 4/15/29 | 292464 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Telecommunications - 1.3% - (continued)** | **Telecommunications - 1.3% - (continued)** | **Telecommunications - 1.3% - (continued)** | **Telecommunications - 1.3% - (continued)** |  |
| $80000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 2/15/31 | $74529 |
| 290000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 11/15/31 | 257803 |
| 330000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.700% due 3/15/32 | 297827 |
| 199000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 7/15/33 | 204378 |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 5/15/35 | 51720 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 4/15/40 | 91193 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300% due 2/15/51 | 68392 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 10/15/52 | 68830 |
| 250000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/15/55 | 241905 |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 11/15/55 | 50990 |
|  |  |  | Verizon Communications Inc., Senior Unsecured Notes: |  |
| 37000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.016% due 12/3/29 | 36737 |
| 10000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150% due 3/22/30 | 9595 |
| 138000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.680% due 10/30/30 | 122353 |
| 145000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 1/20/31 | 127952 |
| 115000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 3/21/31 | 105245 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.355% due 3/15/32 | 88409 |
| 64000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 5/9/33 | 66060 |
| 101000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.850% due 9/15/35 | 108691 |
| 21000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.272% due 1/15/36 | 19838 |
| 1990000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 1/15/36 | 1993465 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.401% due 7/2/37(a) | 102347 |
| 143000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650% due 11/20/40 | 103925 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/22/50 | 78011 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 11/20/50 | 31676 |
| 150000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.550% due 3/22/51 | 108999 |
| 605000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 11/30/55 | 611096 |
| 69000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.987% due 10/30/56 | 42198 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 11/20/60 | 59880 |
| 500000 | <sup>EUR</sup> | B+ | Vmed O2 UK Financing I PLC, Senior Secured Notes, (Cost - $533,182, acquired 12/3/24), 5.625% due 4/15/32(c) | 589026 |
|  |  |  | Vodafone Group PLC, Senior Unsecured Notes: |  |
| 9000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.150% due 2/27/37 | 9874 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 6/19/49 | 22075 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 9/17/50 | 19891 |
| 50000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 6/28/54 | 49354 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 6/28/64 | 24735 |
| 90000 |  | BB | WULF Compute LLC, Senior Secured Notes, 7.750% due 10/15/30(a) | 93125 |
| 540000 | <sup>EUR</sup> | Ba2(b) | Zegona Finance PLC, Senior Secured Notes, 6.750% due 7/15/29(a) | 660898 |
|  |  |  | Total Telecommunications | 23778244 |
| **Toys/Games/Hobbies - 0.1%** | **Toys/Games/Hobbies - 0.1%** | **Toys/Games/Hobbies - 0.1%** | **Toys/Games/Hobbies - 0.1%** |  |
| 920000 |  | BBB | Hasbro Inc., Senior Unsecured Notes, 6.050% due 5/14/34 | 976152 |
|  |  |  | Mattel Inc.: |  |
| 765000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 5.875% due 12/15/27(a) | 765512 |
| 515000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 5.000% due 11/17/30 | 519856 |
|  |  |  | Total Toys/Games/Hobbies | 2261520 |
| **Transportation - 0.2%** | **Transportation - 0.2%** | **Transportation - 0.2%** | **Transportation - 0.2%** |  |
|  |  |  | Burlington Northern Santa Fe LLC, Senior Unsecured Notes: |  |
| 201000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150% due 12/15/48 | 169006 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Transportation - 0.2% - (continued)** | **Transportation - 0.2% - (continued)** | **Transportation - 0.2% - (continued)** |  |
| $52000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 2/15/51 | $35287 |
| 174000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112470 |
| 500000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/15/55 | 502555 |
|  |  | Canadian National Railway Co., Senior Unsecured Notes: |  |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 8/2/46 | 18424 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650% due 2/3/48 | 19459 |
| 25000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 1/20/49 | 21985 |
|  |  | Canadian Pacific Railway Co., Company Guaranteed Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 5/15/43 | 22016 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 5/1/48 | 22602 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 5/1/50 | 18392 |
| 270000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 12/2/51 | 182423 |
|  |  | CSX Corp., Senior Unsecured Notes: |  |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 11/15/32 | 24692 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 5/30/42 | 23603 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 11/1/46 | 20104 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 11/15/48 | 22832 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350% due 9/15/49 | 17995 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800% due 4/15/50 | 19545 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950% due 5/1/50 | 19936 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 11/15/52 | 21682 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 8/1/54 | 21562 |
| 25000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 11/1/66 | 19784 |
|  |  | FedEx Corp., Company Guaranteed Notes: |  |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 5/15/41 | 18840 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 4/15/43 | 20352 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 1/15/44 | 22996 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 11/15/45 | 21777 |
| 25000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 1/15/47 | 20611 |
| 24000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 5/15/50 | 22238 |
| 145000 | BB | Genesee & Wyoming Inc., Senior Secured Notes, 6.250% due 4/15/32(a) | 149281 |
|  |  | Norfolk Southern Corp., Senior Unsecured Notes: |  |
| 46000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 11/1/29 | 43529 |
| 166000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.300% due 5/15/31 | 150753 |
| 138000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.942% due 11/1/47 | 111808 |
| 52000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.155% due 5/15/55 | 34450 |
| 55000 | BB | RXO Inc., Company Guaranteed Notes, 7.500% due 11/15/27(a) | 56190 |
| 100000 | BBB+ | Ryder System Inc., Senior Unsecured Notes, 5.300% due 3/15/27 | 101495 |
|  |  | Union Pacific Corp., Senior Unsecured Notes: |  |
| 153000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800% due 2/14/32 | 140956 |
| 44000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.891% due 4/6/36 | 37457 |
| 35000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300% due 3/1/49 | 29599 |
| 138000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 2/5/50 | 97575 |
| 45000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 3/10/52 | 29494 |
| 144000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 2/14/53 | 104786 |
|  |  | United Parcel Service Inc., Senior Unsecured Notes: |  |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 3/3/33 | 51909 |
| 50000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150% due 5/22/34 | 52340 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** | **CORPORATE BONDS & NOTES - 30.5% - (continued)** |  |
| **Transportation - 0.2% - (continued)** | **Transportation - 0.2% - (continued)** | **Transportation - 0.2% - (continued)** | **Transportation - 0.2% - (continued)** |  |
| $25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200% due 1/15/38 | $27870 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 3/15/49 | 21135 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% due 9/1/49 | 18072 |
| 25000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 4/1/50 | 24537 |
| 700000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.050% due 5/14/65 | 737278 |
| 160000 |  | B+ | XPO Inc., Company Guaranteed Notes, 7.125% due 6/1/31(a) | 167650 |
| 227000 |  | Ba1(b) | Yinson Bergenia Production BV, Senior Secured Notes, 8.498% due 1/31/45(a) | 238254 |
|  |  |  | Total Transportation | 3889586 |
| **Trucking & Leasing - 0.1%** | **Trucking & Leasing - 0.1%** | **Trucking & Leasing - 0.1%** | **Trucking & Leasing - 0.1%** |  |
| 335000 |  | BBB- | Avolon Holdings Funding Ltd., Company Guaranteed Notes, 4.900% due 10/10/30(a) | 337327 |
| 1890000 |  | BB | FTAI Aviation Investors LLC, Company Guaranteed Notes, 7.000% due 6/15/32(a) | 1987087 |
|  |  |  | GATX Corp., Senior Unsecured Notes: |  |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 3/15/27 | 25365 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.850% due 3/30/27 | 24894 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.700% due 4/1/29 | 25351 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 6/30/30 | 24691 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 6/1/32 | 23377 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450% due 9/15/33 | 26083 |
| 25000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.900% due 5/1/34 | 28360 |
|  |  |  | Total Trucking & Leasing | 2502535 |
| **Water - 0.0%@** | **Water - 0.0%@** | **Water - 0.0%@** | **Water - 0.0%@** |  |
| 351000 | <sup>EUR</sup> | BB+ | Holding d'Infrastructures des Metiers de l'Environnement SAS, Senior Unsecured Notes, (Cost - $377,179, acquired 12/5/24), 4.875% due 10/24/29(c) | 422308 |
|  |  |  | **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $538,918,750) | **553332373** |
| **MORTGAGE-BACKED SECURITIES - 27.1%** | **MORTGAGE-BACKED SECURITIES - 27.1%** | **MORTGAGE-BACKED SECURITIES - 27.1%** | **MORTGAGE-BACKED SECURITIES - 27.1%** |  |
| **FHLMC - 6.7%** | **FHLMC - 6.7%** | **FHLMC - 6.7%** | **FHLMC - 6.7%** |  |
|  |  |  | Federal Home Loan Mortgage Corp. (FHLMC): |  |
| 1414125 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 4/1/29 - 10/1/52 | 1398867 |
| 28832644 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/1/30 - 11/1/55 | 29358075 |
| 22840936 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 3/1/31 - 6/1/52 | 20535855 |
| 3291374 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 5/1/31 - 12/1/50 | 2698337 |
| 19361840 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 11/1/31 - 5/1/52 | 16638891 |
| 8356858 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 11/1/33 - 4/1/52 | 7949502 |
| 3607064 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 12/1/34 - 4/1/54 | 3643364 |
| 16824232 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 3/1/36 - 5/1/52 | 13960461 |
| 12255334 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 4/1/38 - 5/1/54 | 11909373 |
| 7155534 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 5/1/38 - 8/1/55 | 7370631 |
| 5274901 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 7/1/53 - 7/1/55 | 5484101 |
|  |  |  | Total FHLMC | 120947457 |
| **FNMA - 12.8%** | **FNMA - 12.8%** | **FNMA - 12.8%** | **FNMA - 12.8%** |  |
|  |  |  | Federal National Mortgage Association (FNMA): |  |
| 12934359 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 1/1/26 - 6/1/52 | 12126654 |
| 4738983 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 2/1/26 - 9/1/53 | 4565187 |
| 12468688 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/1/26 - 9/1/55 | 12681940 |
| 33288276 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 11/1/27 - 7/1/61 | 28714350 |
| 33067055 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 12/1/27 - 9/1/61 | 29799354 |
| 18436242 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 3/1/29 - 7/1/55 | 18174631 |
| 12266227 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/1/29 - 11/1/55 | 12348246 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **MORTGAGE-BACKED SECURITIES - 27.1% - (continued)** | **MORTGAGE-BACKED SECURITIES - 27.1% - (continued)** |  |
| **FNMA - 12.8% - (continued)** | **FNMA - 12.8% - (continued)** |  |
| $1757000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.690% due 5/1/30 | $1803202 |
| 4155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.330% due 6/1/30 | 4217668 |
| 6443376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.590% due 9/1/30 | 6071637 |
| 3272462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 6/1/31 - 8/1/51 | 2870742 |
| 8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.670% due 7/1/33 | 7735940 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.635% due 10/1/33 | 2028943 |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.060% due 1/1/34 | 2554961 |
| 39190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.402% (1-Year Refinitiv USD IBOR Consumer Cash Fallbacks Term + 1.527%) due 3/1/34(d) | 39788 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.440% due 4/1/35 | 3412664 |
| 2199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.890% due 5/1/35 | 1786114 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.290% due 5/1/35 | 3967263 |
| 1097000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.180% due 5/1/35 | 1156017 |
| 32224836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 6/1/36 - 12/1/53 | 26790343 |
| 6379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 4/1/37 | 6540 |
| 33571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.265% (1-Year Refinitiv USD IBOR Consumer Cash Fallbacks Term + 1.265%) due 5/1/37(d) | 33985 |
| 5815505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 5/1/40 - 6/1/55 | 6039687 |
| 13698812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 11/1/52 - 11/1/55 | 14043960 |
| 1855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 12/1/55(j) | 1509846 |
| 7100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 12/1/55(j) | 6307126 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 12/1/55(j) | 14971654 |
| 6250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 12/1/55(j) | 6329764 |
|  | Total FNMA | 232088206 |
| **GNMA - 7.6%** | **GNMA - 7.6%** |  |
|  | Government National Mortgage Association (GNMA): |  |
| 9770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 12/15/33 - 6/15/37 | 10074 |
| 226237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 10/15/34 - 9/15/40 | 232177 |
| 14575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 5/15/37 - 6/15/38 | 15266 |
| 23208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 1/15/38 - 10/15/38 | 24376 |
| 32967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 3/15/41 | 33067 |
| 292658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 6/15/41 - 11/15/45 | 287281 |
|  | Government National Mortgage Association II (GNMA): |  |
| 15441918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 11/20/38 - 11/20/55 | 15873819 |
| 3390774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 11/20/40 - 11/20/52 | 3261354 |
| 22127530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 11/20/40 - 5/20/55 | 22156867 |
| 5572592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 6/20/41 - 5/20/53 | 5497712 |
| 11717341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 1/20/43 - 1/20/54 | 10614796 |
| 8983611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 6/20/43 - 10/20/52 | 8341733 |
| 45402398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 9/20/50 - 5/20/55 | 39497050 |
| 8579541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 10/20/50 - 4/20/52 | 7150970 |
| 19203315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 4/20/53 - 10/20/55 | 19466624 |
| 994099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500% due 4/20/55 | 1060364 |
| 183375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 6/20/55 - 9/20/55 | 189327 |
| 585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 12/20/55(j) | 584434 |
| 3765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 12/20/55(j) | 3802778 |
|  | Total GNMA | 138100069 |
|  | **TOTAL MORTGAGE-BACKED SECURITIES**<br> (Cost - $499,031,824) | 491135732 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **U.S. GOVERNMENT OBLIGATIONS - 19.6%** | **U.S. GOVERNMENT OBLIGATIONS - 19.6%** |  |
|  | U.S. Treasury Bonds: |  |
| $1520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 5/15/37 | $1648072 |
| 105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 2/15/38 | 107412 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125% due 8/15/40 | 961230 |
| 620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375% due 11/15/40 | 410774 |
| 2869000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 2/15/41 | 2045283 |
| 580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 5/15/41 | 435498 |
| 1940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 8/15/41 | 1335758 |
| 920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 11/15/41 | 775423 |
| 1435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 2/15/42 | 1077343 |
| 1115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 8/15/42 | 961600 |
| 3671000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 11/15/42 | 3432098 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 2/15/43 | 82582 |
| 1625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 2/15/43 | 1491890 |
| 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 5/15/43 | 196918 |
| 502500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 8/15/43 | 443024 |
| 540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 8/15/43 | 526584 |
| 10310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 11/15/43 | 9228658 |
| 2493700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 11/15/43 | 2545863 |
| 1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 2/15/44 | 986924 |
| 1830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 2/15/44 | 1808769 |
| 20500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 5/15/44 | 20564063 |
| 415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 8/15/44 | 336069 |
| 1248000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 8/15/44 | 1170439 |
| 1375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 11/15/44 | 1088130 |
| 838000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 11/15/44 | 838589 |
| 1248000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 2/15/45 | 1268036 |
| 376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 5/15/45 | 394271 |
| 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 8/15/45 | 188305 |
| 5455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 8/15/45 | 5627173 |
| 1412500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 11/15/45 | 1105916 |
| 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 2/15/46 | 264131 |
| 1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 11/15/46 | 841063 |
| 3342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 2/15/47 | 2580585 |
| 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 5/15/47 | 258055 |
| 680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 8/15/47 | 498684 |
| 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 2/15/48 | 198677 |
| 2126300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 8/15/48 | 1616403 |
| 2878000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 11/15/48 | 2336689 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 2/15/50 | 1209883 |
| 1656000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.250% due 5/15/50 | 822049 |
| 1505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375% due 8/15/50 | 766080 |
| 1245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625% due 11/15/50 | 676093 |
| 2003000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 2/15/51 | 1157202 |
| 4040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 5/15/51 | 2628604 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 11/15/51 | 54906 |
| 2989000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 2/15/52 | 1873846 |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 5/15/52 | 201873 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **U.S. GOVERNMENT OBLIGATIONS - 19.6% - (continued)** | **U.S. GOVERNMENT OBLIGATIONS - 19.6% - (continued)** |  |
| $1472000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 8/15/52 | $1087843 |
| 904000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 11/15/52 | 807279 |
| 4096000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 2/15/53 | 3418160 |
| 1220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 5/15/53 | 1016937 |
| 904000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 8/15/53 | 824635 |
| 1049900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 11/15/53 | 1060891 |
| 1022000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/15/54 | 951977 |
| 1810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 5/15/54 | 1794799 |
| 2961000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 8/15/54 | 2758472 |
| 4314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 11/15/54 | 4191152 |
| 661000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 2/15/55 | 655604 |
| 4775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 5/15/55 | 4833568 |
| 6529000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 8/15/55 | 6612653 |
| 3520124 | U.S. Treasury Inflation Indexed Notes, 1.875% due 7/15/35 | 3552958 |
|  | U.S. Treasury Notes: |  |
| 4229000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 2/15/27 | 4255927 |
| 770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 2/28/27 | 754149 |
| 294000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 3/15/27 | 296481 |
| 4590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 3/31/27 | 4526888 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 4/15/27 | 2024766 |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 4/30/27 | 2966953 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 5/15/27 | 2026758 |
| 710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625% due 5/31/27 | 700515 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 6/15/27 | 2032031 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 7/15/27 | 1013164 |
| 765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 7/31/27 | 755348 |
| 4725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 8/15/27 | 4742442 |
| 2160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 8/31/27 | 2145403 |
| 23422000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 8/31/27 | 23461342 |
| 860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 9/15/27 | 857867 |
| 1945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 9/30/27 | 1944544 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 10/15/27 | 2013008 |
| 270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 10/31/27 | 269947 |
| 1343000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 10/31/27 | 1358266 |
| 1090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 11/15/27 | 1102646 |
| 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 11/30/27 | 2517920 |
| 1086000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 12/15/27 | 1096754 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 12/31/27 | 2015313 |
| 2287000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 1/15/28 | 2321886 |
| 2286000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/15/28 | 2322478 |
| 1723000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 4/15/28 | 1733129 |
| 612000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 4/30/28 | 612179 |
| 1521000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 5/15/28 | 1530447 |
| 1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.250% due 6/30/28 | 1795834 |
| 581000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 10/31/28 | 603003 |
| 235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 11/30/28 | 221745 |
| 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 11/30/28 | 6149 |
| 2815000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 12/31/28 | 2835783 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **U.S. GOVERNMENT OBLIGATIONS - 19.6% - (continued)** | **U.S. GOVERNMENT OBLIGATIONS - 19.6% - (continued)** |  |
| $6374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 1/31/29 | $6466747 |
| 955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/28/29 | 976394 |
| 415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 3/31/29 | 400175 |
| 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 3/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6113320 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 4/30/29 | 5176270 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 5/31/29 | 2063711 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 6/30/29 | 4096172 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 7/31/29 | 1015723 |
| 930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 8/31/29 | 916359 |
| 4800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 8/31/29 | 4813219 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 9/30/29 | 1996680 |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 9/30/29 | 288301 |
| 930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 10/31/29 | 945058 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 10/31/29 | 2041523 |
| 2597000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 11/30/29 | 2627637 |
| 706000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 11/30/29 | 720851 |
| 1617000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 12/31/29 | 1666647 |
| 614000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 1/31/30 | 630153 |
| 1553000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 2/28/30 | 1579146 |
| 2951000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 3/31/30 | 2957052 |
| 2533000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/31/30 | 2575992 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 4/30/30 | 1012168 |
| 1556000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 5/31/30 | 1566758 |
| 1847000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 5/31/30 | 1879142 |
| 1919000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 6/30/30 | 1942350 |
| 1613000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 7/31/30 | 1632532 |
| 17501000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 8/31/30 | 17521509 |
| 7920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 9/30/30 | 7928663 |
| 1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 10/31/30 | 1351371 |
| 555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 10/31/30 | 586403 |
| 1512000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 11/30/30 | 1564152 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 12/31/30 | 1005918 |
| 1668000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 1/31/31 | 1696962 |
| 1560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125% due 2/15/31 | 1379198 |
| 1345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/28/31 | 1384483 |
| 640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 3/31/31 | 654913 |
| 2005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 5/31/31 | 2101177 |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 6/30/31 | 823625 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 7/31/31 | 1023047 |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 9/30/31 | 797344 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 10/31/31 | 1022617 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 11/30/31 | 1022559 |
| 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 1/31/32 | 264114 |
| 340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 4/30/32 | 345060 |
| 1178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 5/15/32 | 1119445 |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 6/30/32 | 65927 |
| 121000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 7/31/32 | 122671 |
| 4270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 8/15/32 | 4013800 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **U.S. GOVERNMENT OBLIGATIONS - 19.6% - (continued)** | **U.S. GOVERNMENT OBLIGATIONS - 19.6% - (continued)** | **U.S. GOVERNMENT OBLIGATIONS - 19.6% - (continued)** |  |
| $103000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/31/32 | $103624 |
| 253000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 9/30/32 | 254423 |
| 4222000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 10/31/32 | 4212764 |
| 1473000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 11/15/32 | 1503524 |
| 1470000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 5/15/33 | 1427163 |
| 1447000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/15/33 | 1450081 |
| 2694000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 11/15/33 | 2812231 |
| 4275000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 2/15/34 | 4309818 |
| 2193000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 5/15/34 | 2267742 |
| 1155000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/15/34 | 1150511 |
| 18313500 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 11/15/34 | 18728773 |
| 1550000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 2/15/35 | 1628287 |
| 1960000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 5/15/35 | 2000884 |
| 1779000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 8/15/35 | 1813885 |
| 11864000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 11/15/35 | 11846389 |
|  |  | **TOTAL U.S. GOVERNMENT OBLIGATIONS**<br> (Cost - $364,214,089) | **354900647** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6%** |  |
| **Asset-Backed Securities - 6.3%** | **Asset-Backed Securities - 6.3%** | **Asset-Backed Securities - 6.3%** |  |
| 1400000 | NR | AMSR Trust, Series 2025-SFR1, Class E2, 3.655% due 6/17/42(a) | 1293348 |
| 2270000 | NR | Angel Oak Mortgage Trust, Series 2025-HB2, Class A1, 5.642%<br>(30-Day Average SOFR + 1.600%) due 12/25/55(a)(d)(q) | 2272020 |
| 980236 | NR | Aqua Finance Issuer Trust, Series 2025-A, Class C, 5.810% due 12/19/50(a) | 995846 |
| 1334022 | A3(b) | Aqua Finance Trust, Series 2020-AA, Class C, 3.970% due 7/17/46(a) | 1295291 |
|  |  | Business Jet Securities LLC: |  |
| 638188 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class C, 9.132% due 5/15/39(a) | 657679 |
| 2109149 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class C, 7.974% due 9/15/39(a) | 2128421 |
| 3755000 | NR | Cajun Global LLC, Series 2025-2A, Class A2, 5.912% due 11/20/55(a)(q) | 3755380 |
| 1000000 | NR | Cascade MH Asset Trust, Series 2019-MH1, Class M, 5.985% due 11/25/44(a)(d) | 967171 |
| 2858865 | NR | CCAS LLC, Series 2024-1A, Class A, 7.124% due 6/16/31(a) | 2902030 |
| 750000 | NR | Cherry Securitization Trust, Series 2025-1A, Class A, 6.130% due 11/15/32(a) | 761700 |
| 1212121 | NR | Crockett Partners Equipment Co. IIA LLC, Series 2024-1C, Class A, 6.050% due 1/20/31(a) | 1226912 |
| 3810000 | NR | DataBank Issuer, Series 2024-1A, Class A2, 5.300% due 1/26/54(a) | 3804959 |
|  |  | FirstKey Homes Trust: |  |
| 805000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class E1, 2.389% due 8/17/38(a) | 789309 |
| 2000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class E2, 2.489% due 8/17/38(a) | 1960606 |
| 2500000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class F1, 3.238% due 8/17/38(a) | 2461955 |
| 3960000 | BBB- | Five Guys Holdings Inc., Series 2023-1A, Class A2, 7.549% due 1/26/54(a) | 4090793 |
| 198857 | NR | Flexential Issuer, Series 2021-1A, Class A2, 3.250% due 11/27/51(a) | 195761 |
| 1165000 | A(k) | Frontier Issuer LLC, Series 2024-1, Class A2, 6.190% due 6/20/54(a) | 1203665 |
|  |  | GS Mortgage-Backed Securities Trust: |  |
| 1700000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HE2, Class M1, 6.095% (30-Day Average SOFR + 1.900%) due 12/25/65(a)(d)(q) | 1709913 |
| 2448781 | AAA(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SL1, Class A1, 5.847% due 11/25/67(a)(d) | 2471099 |
| 954025 | Ba2(b) | HINNT LLC, Series 2024-A, Class D, 7.000% due 3/15/43(a) | 955324 |
| 2384626 | Aa3(b) | Home Partners of America Trust, Series 2022-1, Class D, 4.730% due 4/17/39(a) | 2363062 |
| 4238625 | BBB | Jack in the Box Funding LLC, Series 2019-1A, Class A23, 4.970% due 8/25/49(a) | 4078455 |
|  |  | Lendmark Funding Trust: |  |
| 1250000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class E, 8.470% due 2/21/34(a) | 1285588 |
| 1395000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class E, 8.910% due 9/20/34(a) | 1453333 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** |  |
| **Asset-Backed Securities - 6.3% - (continued)** | **Asset-Backed Securities - 6.3% - (continued)** | **Asset-Backed Securities - 6.3% - (continued)** |  |
| $1210000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class D, 5.640% due 5/20/35(a) | $1218338 |
| 1750000 | BB- | Mariner Finance Issuance Trust, Series 2025-AA, Class E, 8.640% due 5/20/38(a) | 1821053 |
| 1135000 | A-(k) | Marlette Funding Trust, Series 2025-1A, Class C, 5.260% due 7/16/35(a) | 1145117 |
| 830102 | BBB(k) | MVW LLC, Series 2025-1A, Class C, 5.750% due 9/22/42(a) | 841021 |
| 2317488 | NR | NBC Funding LLC, Series 2024-1A, Class A2, 6.750% due 7/30/54(a) | 2368559 |
| 1090000 | BBB+ | New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.410% due 10/20/61(a) | 751870 |
| 1890000 | AA | NMABS Issuer I LLC, Series 2025-1A, Class B, 5.330% due 11/20/55(a)(q) | 1889484 |
| 1675000 | BBB- | Oak Street Investment Grade Net Lease Fund, Series 2020-1A, Class B1, 5.110% due 11/20/50(a) | 1044590 |
|  |  | Oportun Issuance Trust: |  |
| 748285 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C, Class A, 2.180% due 10/8/31(a) | 735076 |
| 1400000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class D, 10.470% due 2/9/32(a) | 1444990 |
| 1841000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class D, 7.250% due 2/8/33(a) | 1840506 |
| 1000000 | AA-(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class B, 5.280% due 5/9/33(a) | 1002585 |
| 3000000 | AA-(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C, Class B, 4.930% due 7/8/33(a) | 2997600 |
| 1081297 | NR | PowerPay Issuance Trust, Series 2025-1A, Class A, 5.230% due 11/18/41(a)(q) | 1085834 |
|  |  | Progress Residential Trust: |  |
| 1750000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR9, Class F, 4.053% due 11/17/40(a) | 1696725 |
| 2500000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR1, Class F, 4.880% due 2/17/41(a) | 2456099 |
| 2081000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR2, Class E2, 4.800% due 4/17/27(a) | 2040325 |
| 1781000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-SFR2, Class E1, 4.750% due 10/17/40(a) | 1758538 |
| 2992500 | NR | Qdoba Funding LLC, Series 2023-1A, Class A2, 8.500% due 9/14/53(a) | 3115965 |
| 1058258 | AAA(k) | RCKT Mortgage Trust, Series 2024-CES9, Class A1A, step bond to yield, 5.582% due 12/25/44(a) | 1068409 |
|  |  | Saluda Grade Alternative Mortgage Trust: |  |
| 1135456 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FIG3, Class A, 7.067% due 8/25/53(a)(d) | 1176875 |
| 2765158 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FIG4, Class A, 6.718% due 11/25/53(a)(d) | 2879357 |
| 2911441 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES1, Class A1, 6.306% due 3/25/54(a)(d) | 2948912 |
| 830000 | Aaa(b) | SCF Equipment Trust LLC, Series 2025-1A, Class A3, 5.110% due 11/21/33(a) | 848939 |
| 4174538 | BBB- | SEB Funding LLC, Series 2021-1A, Class A2, 4.969% due 1/30/52(a) | 4135202 |
| 3302993 | NR | Service Experts Issuer LLC, Series 2024-1A, Class A, 6.390% due 11/20/35(a) | 3386036 |
| 1301813 | BBB- | SERVPRO Master Issuer LLC, Series 2024-1A, Class A2, 6.174% due 1/25/54(a) | 1349880 |
|  |  | Sierra Timeshare Receivables Funding LLC: |  |
| 1074228 | Ba2(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class D, 9.800% due 1/20/40(a) | 1129862 |
| 1006941 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class D, 6.790% due 4/20/44(a) | 1015522 |
| 3500000 | A- | Stack Infrastructure Issuer LLC, Series 2024-1A, Class A2, 5.900% due 3/25/49(a) | 3544430 |
|  |  | Stream Innovations Issuer Trust: |  |
| 1500000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class C, 9.050% due 2/15/45(a) | 1581687 |
| 999312 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class D, 8.400% due 9/15/45(a) | 1022303 |
| 1155760 | A2(b) | Upstart Securitization Trust, Series 2025-1, Class A, 5.450% due 4/20/35(a) | 1163135 |
| 2953888 | NR | Zaxbys Funding LLC, Series 2021-1A, Class A2, 3.238% due 7/30/51(a) | 2786116 |
|  |  | Zayo Issuer LLC: |  |
| 2285000 | A-(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, 5.648% due 3/20/55(a) | 2327800 |
| 3400000 | A3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A2, 5.953% due 6/20/55(a) | 3492370 |
|  |  | Total Asset-Backed Securities | 114190730 |
| **Mortgage Securities - 7.3%** | **Mortgage Securities - 7.3%** | **Mortgage Securities - 7.3%** |  |
| 1732737 | AAA | A&D Mortgage Trust, Series 2024-NQM4, Class A1, 5.464% due 8/25/69(a) | 1738136 |
|  |  | ABL: |  |
| 1750000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL1, Class A1, step bond to yield, 6.075% due 9/25/29(a) | 1757600 |
| 800000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL1, Class A1, step bond to yield, 6.040% due 6/25/30(a) | 807495 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** |  |
| **Mortgage Securities - 7.3% - (continued)** | **Mortgage Securities - 7.3% - (continued)** | **Mortgage Securities - 7.3% - (continued)** |  |
|  |  | BAMLL Re-REMIC Trust: |  |
| $2000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FRR2, Class C, 1.222% due 7/27/50(a)(d) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870308 |
| 2400000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FRR3, Class C, 0.640% due 1/27/50(a)(d) | 2265204 |
| 11489 | AA+ | Banc of America Mortgage Trust, Series 2004-F, Class 1A1, 5.825% due 7/25/34(d) | 11096 |
|  |  | BBCMS Mortgage Trust: |  |
| 280000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C16, Class A5, 4.600% due 6/15/55(d) | 280462 |
| 590000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-C19, Class A2B, 5.753% due 4/15/56 | 599412 |
| 250000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C28, Class A5, 5.403% due 9/15/57 | 263055 |
|  |  | BMD2 Re-Remic Trust: |  |
| 1650000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-FRR1, Class 4A, zero coupon due 5/25/52(a)(l) | 1406078 |
| 2000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-FRR1, Class 5A1, 3.425% due 5/25/52(a)(d) | 1897700 |
| 1750000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-FRR1, Class 6B10, 2.355% due 5/25/52(a)(d) | 1532212 |
|  |  | BMO Mortgage Trust: |  |
| 280000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C1, Class A5, 3.374% due 2/15/55(d) | 262478 |
| 100000 | A-(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C6, Class C, 5.885% due 9/15/57(d) | 100792 |
| 648465 | NR | Brean Asset Backed Securities Trust, Series 2025-RM11, Class A1, 4.750% due 5/25/65(a)(d) | 640945 |
| 1215000 | BBB(k) | BX Mortgage Trust, Series 2021-PAC, Class D, 5.372%<br>(1-Month Term SOFR + 1.413%) due 10/15/36(a)(d) | 1209851 |
|  |  | BX Trust: |  |
| 901000 | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-VAMF, Class A, 4.809% (1-Month Term SOFR + 0.850%) due 1/15/39(a)(d) | 900120 |
| 969000 | A3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BIO, Class C, 6.599% (1-Month Term SOFR + 2.640%) due 2/15/41(a)(d) | 962533 |
| 1200000 | NR | CAFL Issuer LP, Series 2025-RRTL1, Class A1, step bond to yield, 5.684% due 5/28/40(a) | 1210900 |
|  |  | CIM Trust: |  |
| 619096 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-R4, Class A1, 3.000% due 10/25/59(a)(d) | 585124 |
| 345988 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-R6, Class A1A, 2.250% due 12/25/60(a)(d) | 321071 |
| 1228521 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R1, Class A2, 2.400% due 8/25/56(a)(d) | 1134656 |
| 599212 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R3, Class A1A, 1.951% due 6/25/57(a)(d) | 560806 |
| 780293 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R4, Class A1A, 2.000% due 5/1/61(a)(d) | 730095 |
| 1607292 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R5, Class A1, 2.000% due 8/25/61(a)(d) | 1417590 |
| 1810641 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R1, Class A1A, 5.400% due 4/25/62(a)(d) | 1805712 |
| 1581459 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R3, Class A1A, 4.500% due 1/25/63(a)(d) | 1572369 |
|  |  | Citigroup Commercial Mortgage Trust: |  |
| 285000 | Aa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2, Class B, 3.176% due 8/10/49 | 279526 |
| 578328 | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C3, Class A3, 2.896% due 11/15/49 | 572213 |
| 83751 | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-P7, Class AAB, 3.509% due 4/14/50 | 83460 |
| 675222 | AAA(k) | COLT Mortgage Loan Trust, Series 2021-2, Class A1, 0.924% due 8/25/66(a)(d) | 575856 |
|  |  | Commercial Mortgage Trust: |  |
| 46 | PIF(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-CR21, Class C, 4.697% due 12/10/47(d)(q) | 45 |
| 165000 | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-COR3, Class A3, 4.228% due 5/10/51 | 161632 |
| 701404 | Aa2(b) | Connecticut Avenue Securities Trust, Series 2025-R03, Class 2A1, 5.522% (30-Day Average SOFR + 1.450%) due 3/25/45(a)(d) | 706111 |
| 310000 | Aaa(b) | CSAIL Commercial Mortgage Trust, Series 2018-CX12, Class A4, 4.224% due 8/15/51(d) | 309781 |
| 100000 | B+ | CSMC OA LLC, Series 2014-USA, Class D, 4.373% due 9/15/37(a) | 83352 |
| 1695000 | BB-(k) | CSTL Commercial Mortgage Trust, Series 2025-GATE2, Class E, 6.355% due 11/10/42(a)(d)(q) | 1700421 |
| 2025000 | NR | DBSG Mortgage Trust, Series 2024-ALTA, Class A, 6.144% due 6/10/37(a)(d) | 2057758 |
| 1750000 | AAA(k) | DOLP Trust, Series 2021-NYC, Class A, 2.956% due 5/10/41(a) | 1577989 |
| 1399305 | AAA(k) | EFMT, Series 2025-NQM3, Class A1, step bond to yield, 5.494% due 8/25/70(a) | 1408413 |
| 6622584 | NR | Federal Home Loan Mortgage Corp. (FHLMC), REMICS, Series 4995, Class QE, 1.250% due 7/25/50 | 5239285 |
| 1224782 | BBB+ | Federal Home Loan Mortgage Corp. (FHLMC), Structured Agency Credit Risk, Series 2021-DNA6, Class M2, 5.572% (30-Day Average SOFR + 1.500%) due 10/25/41(a)(d) | 1229805 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** |  |
| **Mortgage Securities - 7.3% - (continued)** | **Mortgage Securities - 7.3% - (continued)** | **Mortgage Securities - 7.3% - (continued)** |  |
|  |  | Federal National Mortgage Association (FNMA), ACES: |  |
| $245000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-M2S, Class A2, 1.867% due 10/25/31(d) | $218499 |
| 265000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-M10, Class A2, 1.992% due 1/25/32(d) | 235722 |
| 2035000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-M2, Class 3A2, 2.006% due 4/25/32(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1799387 |
|  |  | Federal National Mortgage Association (FNMA), REMICS: |  |
| 3912808 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-57, Class NI, 2.500% due 8/25/50(m) | 673026 |
| 550150 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-73, Class KI, 3.000% due 10/25/50(m) | 97705 |
| 473491 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-61, Class KI, 2.500% due 4/25/49(m) | 70018 |
|  |  | FHLMC Multifamily Structured Pass-Through Certificates: |  |
| 2700000 | AA+(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K104, Class XAM, 1.500% due 1/25/30(d)(m) | 138639 |
| 440000 | AAA(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K144, Class A2, 2.450% due 4/25/32 | 400114 |
| 500000 | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K146, Class A2, 2.920% due 6/25/32 | 466370 |
| 736000 | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K148, Class A2, 3.500% due 7/25/32(d) | 709599 |
| 250000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K154, Class A2, 3.424% due 4/25/32 | 246162 |
| 1000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K541, Class A2, 4.348% due 2/25/30(a)(d) | 1015819 |
|  |  | Freddie Mac Multifamily Structured Credit Risk: |  |
| 2500000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class M2, 7.822% (30-Day Average SOFR + 3.750%) due 1/25/51(a)(d) | 2587992 |
| 2000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN3, Class M2, 8.072% (30-Day Average SOFR + 4.000%) due 11/25/51(a)(d) | 2077142 |
| 1250000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN11, Class M2, 6.722% (30-Day Average SOFR + 2.650%) due 7/25/45(a)(d) | 1252465 |
| 1200000 | BB-(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN12, Class M2, 6.833% (30-Day Average SOFR + 2.750%) due 11/25/45(a)(d)(q) | 1207102 |
|  |  | GAM RE-REMIC Trust: |  |
| 2352000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FRR1, Class 2C, zero coupon due 11/29/50(a)(l) | 2071550 |
| 799000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FRR2, Class CK78, zero coupon due 9/27/51(a)(l) | 620625 |
| 2000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FRR3, Class BK61, zero coupon due 11/27/49(a)(l) | 1885127 |
| 2000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FRR3, Class CK89, zero coupon due 1/27/52(a)(l) | 1602540 |
|  |  | Government National Mortgage Association (GNMA): |  |
| 63360 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-124, Class NW, 3.500% due 9/20/48 | 59921 |
| 3322033 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-119, Class JG, 1.500% due 6/20/51 | 2887870 |
| 1157933 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-53, Class SL, 4.302% (12.500% - 30-Day Average SOFR) due 4/20/53(i) | 1132102 |
| 6385028 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-51, Class GC, 3.500% due 7/20/48 | 6271064 |
| 37358 | WR(b) | Harborview Mortgage Loan Trust, Series 2004-5, Class 2A6, 4.821% due 6/19/34(d) | 35852 |
| 1000000 | NR | ICAP Trust, Series 2025-RTL1, Class A1, step bond to yield, 6.472% due 7/25/30(a) | 1016196 |
|  |  | JPMDB Commercial Mortgage Securities Trust: |  |
| 190000 | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C7, Class A5, 3.409% due 10/15/50 | 186828 |
| 130000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C8, Class B, 4.522% due 6/15/51 | 124506 |
| 1387752 | Aaa(b) | JPMorgan Mortgage Trust, Series 2021-13, Class A3, 2.500% due 4/25/52(a)(d) | 1171154 |
| 1200000 | NR | KREST Commercial Mortgage Securities Trust, Series 2021-CHIP, Class B,<br>2.861% due 11/5/44(a) | 920817 |
| 510000 | NR | Lhome Mortgage Trust, Series 2025-RTL2, Class A1, 5.612% due 4/25/40(a)(d) | 513638 |
| 1700000 | NR | LHOME Mortgage Trust, Series 2025-RTL1, Class A1, step bond to yield,<br>5.652% due 1/25/40(a) | 1711487 |
| 500000 | NR | LOANDEPOT GMSR Master Trust, Series 2025-GT2, Class A, 7.113%<br>(1-Month Term SOFR + 3.150%) due 7/16/30(a)(d) | 504428 |
| 745000 | Aaa(b) | MCR Mortgage Trust, Series 2024-HF1, Class A, 5.752%<br>(1-Month Term SOFR + 1.793%) due 12/15/41(a)(d) | 747806 |
| 2000000 | NR | MFA Trust, Series 2024-RTL3, Class A1, step bond to yield, 5.913% due 11/25/39(a) | 2022961 |
| 2000000 | NR | MRCD Mortgage Trust, Series 2019-PARK, Class E, 2.718% due 12/15/36(a) | 1396820 |
|  |  | Multifamily Connecticut Avenue Securities Trust: |  |
| 2636879 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01, Class M10, 7.436% (30-Day Average SOFR + 3.364%) due 10/25/49(a)(d) | 2680304 |
| 1730973 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-01, Class M10, 7.936% (30-Day Average SOFR + 3.864%) due 3/25/50(a)(d) | 1763586 |
| 1000000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01, Class M10, 10.572% (30-Day Average SOFR + 6.500%) due 11/25/53(a)(d) | 1137810 |
| 2188125 | NR | Neighborly Issuer, Series 2023-1A, Class A2, 7.308% due 1/30/53(a) | 2220787 |
| 2188794 | NR | NRM FHT1 Excess Owner LLC, Series 2025-FHT1, Class A, step bond to yield,<br>6.545% due 3/25/32(a) | 2218154 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 13.6% - (continued)** |  |
| **Mortgage Securities - 7.3% - (continued)** | **Mortgage Securities - 7.3% - (continued)** | **Mortgage Securities - 7.3% - (continued)** | **Mortgage Securities - 7.3% - (continued)** |  |
| $2097577 |  | AAA(k) | OBX Trust, Series 2021-NQM4, Class A1, 1.957% due 10/25/61(a)(d) | $1824687 |
| 2000000 |  | Aaa(b) | One Bryant Park Trust, Series 2019-OBP, Class A, 2.516% due 9/15/54(a) | 1858716 |
| 3234000 |  | A+ | One New York Plaza Trust, Series 2020-1NYP, Class A, 5.023%<br>(1-Month Term SOFR + 1.064%) due 1/15/36(a)(d) | 3111413 |
| 2391378 |  | NR | PRET LLC, Series 2025-NPL3, Class A1, step bond to yield,<br>6.708% due 4/25/55(a) | 2409995 |
| 453408 |  | AAA | PRKCM Trust, Series 2023-AFC1, Class A1, step bond to yield,<br>6.598% due 2/25/58(a) | 453583 |
| 340000 |  | NR | PRM7 Trust, Series 2025-PRM7, Class E, 6.839% due 11/10/42(a)(d) | 337951 |
| 681846 |  | AAA(k) | PRPM LLC, Series 2022-NQM1, Class A1, step bond to yield,<br>5.500% due 8/25/67(a) | 680092 |
| 1805162 |  | NR | RCO IX Mortgage LLC, Series 2025-2, Class A1, step bond to yield,<br>6.513% due 4/25/30(a) | 1812562 |
| 2547468 |  | NR | RFM Reremic Trust, Series 2022-FRR1, Class BK64, 1.658% due 3/1/50(a)(d) | 2406972 |
|  |  |  | ROCK Trust: |  |
| 210000 |  | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CNTR, Class A, 5.388% due 11/13/41(a) | 216776 |
| 1900000 |  | Aa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CNTR, Class B, 5.930% due 11/13/41(a) | 1972697 |
| 3445000 |  | AA- | SDAL Trust, Series 2025-DAL, Class B, 6.900%<br>(1-Month Term SOFR + 2.941%) due 4/15/42(a)(d) | 3464772 |
|  |  |  | Seasoned Loans Structured Transaction Trust: |  |
| 5040138 |  | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A1, 3.000% due 5/25/35 | 4710463 |
| 1786318 |  | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class A1, 3.000% due 10/25/35 | 1673956 |
| 3715000 |  | Aaa(b) | SHR Trust, Series 2024-LXRY, Class A, 5.909%<br>(1-Month Term SOFR + 1.950%) due 10/15/41(a)(d) | 3723585 |
| 910000 |  | AAA(k) | SLG Office Trust, Series 2021-OVA, Class A, 2.585% due 7/15/41(a) | 820717 |
| 21129 |  | WR(b) | Structured Asset Mortgage Investments II Trust, Series 2005-AR5, Class A3, 4.573% (1-Month Term SOFR + 0.614%) due 7/19/35(d) | 20999 |
| 2000000 |  | NR | Toorak Mortgage Trust, Series 2025-RRTL1, Class A1, step bond to yield,<br>5.524% due 2/25/40(a) | 2014620 |
| 469980 |  | Aaa(b) | UBS Commercial Mortgage Trust, Series 2019-C17, Class A3,<br>2.669% due 10/15/52 | 448272 |
| 1936082 |  | NR | VCAT LLC, Series 2025-NPL2, Class A1, step bond to yield,<br>5.977% due 1/25/55(a) | 1941801 |
| 585939 |  | NR | Velocity Commercial Capital Loan Trust, Series 2019-1, Class A,<br>3.760% due 3/25/49(a)(d) | 567111 |
|  |  |  | Verus Securitization Trust: |  |
| 561335 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class A1, 1.013% due 9/25/66(a)(d) | 492196 |
| 2090990 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-7, Class A1, step bond to yield, 2.829% due 10/25/66(a) | 1932916 |
| 404410 |  | A+ | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR19, Class A1B3, 4.769% (1-Month Term SOFR + 0.814%) due 12/25/45(d) | 407093 |
| 248040 |  | Aaa(b) | Wells Fargo Commercial Mortgage Trust, Series 2018-C44, Class A4,<br>3.948% due 5/15/51 | 247044 |
|  |  |  | Total Mortgage Securities | 133480130 |
|  |  |  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br> (Cost - $245,389,458) | **247670860** |
| **SOVEREIGN BONDS - 3.5%** | **SOVEREIGN BONDS - 3.5%** | **SOVEREIGN BONDS - 3.5%** | **SOVEREIGN BONDS - 3.5%** |  |
| **Argentina - 0.1%** | **Argentina - 0.1%** | **Argentina - 0.1%** | **Argentina - 0.1%** |  |
| 620000 |  | CCC | Argentine Republic Government International Bonds, step bond to yield,<br>4.125% due 7/9/35 | 440417 |
| 675000 |  | B- | Ciudad Autonoma de Buenos Aires/Government Bonds, 7.800% due 11/26/33(a) | 679084 |
|  |  |  | Total Argentina | 1119501 |
| **Australia - 0.2%** | **Australia - 0.2%** | **Australia - 0.2%** | **Australia - 0.2%** |  |
| 2670000 | <sup>AUD</sup> | AA+ | New South Wales Treasury Corp., (Cost - $1,713,183, acquired 7/10/25),<br>3.000% due 4/20/29(c) | 1685667 |
| 2660000 | <sup>AUD</sup> | AA+ | Queensland Treasury Corp., (Cost - $1,709,648, acquired 7/10/25),<br>3.500% due 8/21/30(a)(c) | 1678553 |
|  |  |  | Total Australia | 3364220 |
| **Bahamas - 0.0%@** | **Bahamas - 0.0%@** | **Bahamas - 0.0%@** | **Bahamas - 0.0%@** |  |
| 200000 |  | BB- | Bahamas Government International Bonds, 8.250% due 6/24/36(a) | 217704 |
| **Benin - 0.0%@** | **Benin - 0.0%@** | **Benin - 0.0%@** | **Benin - 0.0%@** |  |
| 200000 |  | BB- | Benin Government International Bonds, 7.960% due 2/13/38(a) | 204355 |
| **Brazil - 0.5%** | **Brazil - 0.5%** | **Brazil - 0.5%** | **Brazil - 0.5%** |  |
| 41530000 | <sup>BRL</sup> | BB | Brazil Notas do Tesouro Nacional Serie F, 10.000% due 1/1/27 | 7848354 |
| 200000 |  | BB | Brazilian Government International Bonds, 7.125% due 5/13/54 | 201050 |
|  |  |  | Total Brazil | 8049404 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** |  |
| **Canada - 0.1%** | **Canada - 0.1%** | **Canada - 0.1%** | **Canada - 0.1%** |  |
|  |  |  | Province of British Columbia Canada: |  |
| $50000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 7/6/33 | $50227 |
| 300000 |  | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 6/12/34 | 310653 |
|  |  |  | Province of Ontario Canada: |  |
| 200000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100% due 5/19/27 | 198361 |
| 50000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050% due 4/24/34 | 52953 |
| 200000 |  | AA-(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450% due 11/20/35 | 201423 |
| 200000 |  | A+ | Province of Quebec Canada, 4.625% due 8/28/35 | 204302 |
|  |  |  | Total Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017919 |
| **Chile - 0.0%@** | **Chile - 0.0%@** | **Chile - 0.0%@** | **Chile - 0.0%@** |  |
|  |  |  | Chile Government International Bonds: |  |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 1/31/27 | 196650 |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.240% due 2/6/28 | 196395 |
| 45000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 1/27/32 | 40433 |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 1/25/50 | 149840 |
|  |  |  | Total Chile | 583318 |
| **Colombia - 0.2%** | **Colombia - 0.2%** | **Colombia - 0.2%** | **Colombia - 0.2%** |  |
|  |  |  | Colombia Government International Bonds: |  |
| 200000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000% due 4/20/33 | 217820 |
| 200000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 11/7/36 | 209900 |
| 200000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750% due 11/14/53 | 223500 |
| 14500000000 | <sup>COP</sup> | BB+ | Colombian TES, 5.750% due 11/3/27 | 3547659 |
|  |  |  | Total Colombia | 4198879 |
| **Czech Republic - 0.1%** | **Czech Republic - 0.1%** | **Czech Republic - 0.1%** | **Czech Republic - 0.1%** |  |
| 37630000 | <sup>CZK</sup> | AA-(k) | Czech Republic Government Bonds, 5.000% due 9/30/30 | 1872950 |
| **Dominican Republic - 0.1%** | **Dominican Republic - 0.1%** | **Dominican Republic - 0.1%** | **Dominican Republic - 0.1%** |  |
|  |  |  | Dominican Republic International Bonds: |  |
| 185000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.050% due 2/3/31(a) | 198033 |
| 500000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 9/23/32(a) | 478075 |
| 300000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950% due 3/15/37(a) | 319830 |
|  |  |  | Total Dominican Republic | 995938 |
| **Ecuador - 0.0%@** | **Ecuador - 0.0%@** | **Ecuador - 0.0%@** | **Ecuador - 0.0%@** |  |
|  |  |  | Ecuador Government International Bonds: |  |
| 120000 |  | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; step bond to yield, 6.900% due 7/31/30(a) | 117090 |
| 200000 |  | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; step bond to yield, 6.900% due 7/31/35(a) | 170150 |
|  |  |  | Total Ecuador | 287240 |
| **Egypt - 0.0%@** | **Egypt - 0.0%@** | **Egypt - 0.0%@** | **Egypt - 0.0%@** |  |
|  |  |  | Egypt Government International Bonds: |  |
| 200000 |  | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.600% due 3/1/29 | 210742 |
| 200000 |  | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625% due 5/29/32 | 206621 |
| 200000 |  | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875% due 5/29/50 | 193671 |
|  |  |  | Total Egypt | 611034 |
| **El Salvador - 0.0%@** | **El Salvador - 0.0%@** | **El Salvador - 0.0%@** | **El Salvador - 0.0%@** |  |
| 150000 |  | B- | El Salvador Government International Bonds, 9.650% due 11/21/54(a) | 170505 |
| **France - 0.4%** | **France - 0.4%** | **France - 0.4%** | **France - 0.4%** |  |
| 6700000 | <sup>EUR</sup> | A+u(k) | French Republic Government Bonds OAT, (Cost - $7,780,222, acquired 6/12/25), 2.700% due 2/25/31(a)(c) | 7756058 |
| **Guatemala - 0.0%@** | **Guatemala - 0.0%@** | **Guatemala - 0.0%@** | **Guatemala - 0.0%@** |  |
| 200000 |  | BB+ | Guatemala Government Bonds, 6.050% due 8/6/31 | 208000 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** |  |
| **Hungary - 0.0%@** | **Hungary - 0.0%@** | **Hungary - 0.0%@** | **Hungary - 0.0%@** |  |
| $200000 |  | BBB- | Hungary Government International Bonds, (Cost - $198,312, acquired 12/6/21),<br>2.125% due 9/22/31(c) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172248 |
| **Indonesia - 0.1%** | **Indonesia - 0.1%** | **Indonesia - 0.1%** | **Indonesia - 0.1%** |  |
|  |  |  | Indonesia Government International Bonds: |  |
| 80000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 4/24/28 | 80217 |
| 445000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.850% due 2/14/30 | 421419 |
| 120000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.150% due 7/28/31 | 106411 |
| 200000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.050% due 3/12/51 | 135458 |
|  |  |  | Total Indonesia | 743505 |
| **Israel - 0.1%** | **Israel - 0.1%** | **Israel - 0.1%** | **Israel - 0.1%** |  |
|  |  |  | Israel Government International Bonds: |  |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 2/19/30 | 207145 |
| 200000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750% due 7/3/30 | 186277 |
| 1735000 |  | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/12/54 | 1695805 |
|  |  |  | Total Israel | 2089227 |
| **Italy - 0.0%@** | **Italy - 0.0%@** | **Italy - 0.0%@** | **Italy - 0.0%@** |  |
| 200000 |  | Baa2u(b) | Republic of Italy Government International Bonds, 3.875% due 5/6/51 | 150981 |
| **Ivory Coast - 0.1%** | **Ivory Coast - 0.1%** | **Ivory Coast - 0.1%** | **Ivory Coast - 0.1%** |  |
|  |  |  | Ivory Coast Government International Bonds: |  |
| 400000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.075% due 4/1/36(a) | 416707 |
| 715000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250% due 1/30/37(a) | 750760 |
|  |  |  | Total Ivory Coast | 1167467 |
| **Japan - 0.0%@** | **Japan - 0.0%@** | **Japan - 0.0%@** | **Japan - 0.0%@** |  |
| 200000 |  | A+ | Japan Bank for International Cooperation, 3.875% due 7/3/28 | 201162 |
| **Jordan - 0.0%@** | **Jordan - 0.0%@** | **Jordan - 0.0%@** | **Jordan - 0.0%@** |  |
|  |  |  | Jordan Government International Bonds: |  |
| 283000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 11/12/32(a) | 278275 |
| 200000 |  | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375% due 10/10/47 | 199421 |
|  |  |  | Total Jordan | 477696 |
| **Kenya - 0.0%@** | **Kenya - 0.0%@** | **Kenya - 0.0%@** | **Kenya - 0.0%@** |  |
|  |  |  | Kenya Government International Bonds: |  |
| 200000 |  | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750% due 2/16/31(a) | 213277 |
| 200000 |  | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875% due 10/9/33(a) | 192818 |
| 200000 |  | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.800% due 10/9/38(a) | 194055 |
|  |  |  | Total Kenya | 600150 |
| **Mexico - 0.4%** | **Mexico - 0.4%** | **Mexico - 0.4%** | **Mexico - 0.4%** |  |
| 34675000 | <sup>MXN</sup> | Baa2(b) | Mexican Bonos, 8.500% due 2/28/30 | 1915503 |
|  |  |  | Mexico Government International Bonds: |  |
| 272000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 4/22/29 | 273333 |
| 200000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 4/16/30 | 189335 |
| 245000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.659% due 5/24/31 | 219275 |
| 1700000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.350% due 2/9/35 | 1795115 |
| 825000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 9/22/35 | 817592 |
| 100000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 3/8/44 | 82930 |
| 225000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 2/10/48 | 177165 |
| 200000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.338% due 5/4/53 | 193990 |
| 1275000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.771% due 5/24/61 | 800279 |
|  |  |  | Total Mexico | 6464517 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** |  |
| **Nigeria - 0.0%@** | **Nigeria - 0.0%@** | **Nigeria - 0.0%@** | **Nigeria - 0.0%@** |  |
| $260000 |  | B- | Nigeria Government International Bonds, 7.143% due 2/23/30(a) | $264725 |
| **Oman - 0.0%@** | **Oman - 0.0%@** | **Oman - 0.0%@** | **Oman - 0.0%@** |  |
| 200000 |  | Baa3(b) | Oman Government International Bonds, (Cost - $210,132, acquired 12/6/21),<br>5.625% due 1/17/28(c) | 204931 |
| **Pakistan - 0.0%@** | **Pakistan - 0.0%@** | **Pakistan - 0.0%@** | **Pakistan - 0.0%@** |  |
|  |  |  | Pakistan Government International Bonds: |  |
| 200000 |  | Caa1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375% due 4/8/31(a) | 196240 |
| 200000 |  | Caa1(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875% due 4/8/51(a) | 192114 |
|  |  |  | Total Pakistan | 388354 |
| **Panama - 0.1%** | **Panama - 0.1%** | **Panama - 0.1%** | **Panama - 0.1%** |  |
|  |  |  | Panama Government International Bonds: |  |
| 210000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 3/17/28 | 206503 |
| 300000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.160% due 1/23/30 | 280080 |
| 890000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.252% due 9/29/32 | 728554 |
| 350000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.298% due 1/19/33 | 305323 |
| 10000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 4/1/56 | 7454 |
|  |  |  | Total Panama | 1527914 |
| **Paraguay - 0.0%@** | **Paraguay - 0.0%@** | **Paraguay - 0.0%@** | **Paraguay - 0.0%@** |  |
| 400000 |  | BB+ | Paraguay Government International Bonds, 5.400% due 3/30/50 | 370400 |
| **Peru - 0.1%** | **Peru - 0.1%** | **Peru - 0.1%** | **Peru - 0.1%** |  |
|  |  |  | Peruvian Government International Bonds: |  |
| 550000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.783% due 1/23/31 | 510648 |
| 100000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 1/15/34 | 87350 |
| 50000 |  | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 11/18/50 | 49632 |
|  |  |  | Total Peru | 647630 |
| **Philippines - 0.1%** | **Philippines - 0.1%** | **Philippines - 0.1%** | **Philippines - 0.1%** |  |
|  |  |  | Philippine Government International Bonds: |  |
| 360000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.648% due 6/10/31 | 313901 |
| 550000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.950% due 1/6/32 | 479823 |
|  |  |  | Total Philippines | 793724 |
| **Poland - 0.0%@** | **Poland - 0.0%@** | **Poland - 0.0%@** | **Poland - 0.0%@** |  |
|  |  |  | Republic of Poland Government International Bonds: |  |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 11/16/27 | 51577 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 10/4/33 | 101953 |
| 50000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 4/4/53 | 48891 |
| 100000 |  | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/18/54 | 97945 |
|  |  |  | Total Poland | 300366 |
| **Singapore - 0.1%** | **Singapore - 0.1%** | **Singapore - 0.1%** | **Singapore - 0.1%** |  |
| 2410000 | <sup>SGD</sup> | NR | Singapore Government Bonds, 2.875% due 9/1/27 | 1907980 |
| **South Africa - 0.0%@** | **South Africa - 0.0%@** | **South Africa - 0.0%@** | **South Africa - 0.0%@** |  |
| 200000 |  | BB | Republic of South Africa Government International Bonds, 7.100% due 11/19/36(a) | 215451 |
| **South Korea - 0.0%@** | **South Korea - 0.0%@** | **South Korea - 0.0%@** | **South Korea - 0.0%@** |  |
|  |  |  | Export-Import Bank of Korea: |  |
| 200000 |  | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125% due 12/29/26 | 194233 |
| 200000 |  | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 1/14/35 | 215993 |
|  |  |  | Total South Korea | 410226 |
| **Spain - 0.1%** | **Spain - 0.1%** | **Spain - 0.1%** | **Spain - 0.1%** |  |
| 1755000 | <sup>EUR</sup> | A3(b) | Spain Government Bonds, (Cost - $1,898,417, acquired 11/5/25), 1.250% due 10/31/30(a)(c) | 1916840 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** | **SOVEREIGN BONDS - 3.5% - (continued)** |  |
| **Supranational - 0.3%** | **Supranational - 0.3%** | **Supranational - 0.3%** | **Supranational - 0.3%** |  |
| 2930000 | <sup>EUR</sup> | AA+ | European Union, (Cost - $3,486,180, acquired 9/5/25), 2.625% due 7/4/28(c) | $3432537 |
|  |  |  | International Bank for Reconstruction & Development: |  |
| $100000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125% due 6/15/27 | 99323 |
| 100000 |  | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 11/22/27 | 98018 |
| 200000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375% due 4/20/28 | 190252 |
| 150000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 7/12/28 | 149873 |
| 100000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 9/21/29 | 100110 |
| 100000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 7/25/30 | 101523 |
| 100000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 4/10/31 | 103847 |
| 300000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 1/15/32 | 313607 |
| 500000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 8/28/34 | 496246 |
|  |  |  | Total Supranational | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085336 |
| **Suriname - 0.0%@** | **Suriname - 0.0%@** | **Suriname - 0.0%@** | **Suriname - 0.0%@** |  |
|  |  |  | Suriname Government International Bonds: |  |
| 200000 |  | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.700% due 11/6/30(a) | 203010 |
| 208000 |  | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500% due 11/6/35(a) | 225002 |
|  |  |  | Total Suriname | 428012 |
| **Turkey - 0.0%@** | **Turkey - 0.0%@** | **Turkey - 0.0%@** | **Turkey - 0.0%@** |  |
| 200000 |  | Ba3(b) | Istanbul Metropolitan Municipality, 10.500% due 12/6/28(a) | 220093 |
| **United Kingdom - 0.3%** | **United Kingdom - 0.3%** | **United Kingdom - 0.3%** | **United Kingdom - 0.3%** |  |
|  |  |  | United Kingdom Gilt: |  |
| 1845000 | <sup>GBP</sup> | Aa3u(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost - $2,482,031, acquired 9/19/25), 3.750% due 3/7/27(c) | 2441537 |
| 2430000 | <sup>GBP</sup> | Aa3u(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost - $3,084,536, acquired 12/3/24), 4.125% due 7/22/29(c) | 3247791 |
|  |  |  | Total United Kingdom | 5689328 |
| **Uruguay - 0.0%@** | **Uruguay - 0.0%@** | **Uruguay - 0.0%@** | **Uruguay - 0.0%@** |  |
|  |  |  | Uruguay Government International Bonds: |  |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 10/28/34 | 106950 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.442% due 2/14/37 | 52275 |
| 100000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% due 6/18/50 | 95775 |
| 50000 |  | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.975% due 4/20/55 | 46188 |
|  |  |  | Total Uruguay | 301188 |
|  |  |  | **TOTAL SOVEREIGN BONDS**<br> (Cost - $62,158,659) | **63396476** |
| **ASSET-BACKED SECURITIES - 2.0%** | **ASSET-BACKED SECURITIES - 2.0%** | **ASSET-BACKED SECURITIES - 2.0%** | **ASSET-BACKED SECURITIES - 2.0%** |  |
| **Automobiles - 1.7%** | **Automobiles - 1.7%** | **Automobiles - 1.7%** | **Automobiles - 1.7%** |  |
| 1235000 |  | BBB | American Credit Acceptance Receivables Trust, Series 2025-2, Class D,<br>5.500% due 7/14/31(a) | 1249326 |
| 759000 |  | BBB(k) | AutoNation Finance Trust, Series 2025-1A, Class D, 5.630% due 9/10/32(a) | 775020 |
|  |  |  | Avis Budget Rental Car Funding AESOP LLC: |  |
| 4000000 |  | Aaa(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class A, 5.230% due 12/20/30(a) | 4132868 |
| 440000 |  | Baa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class C, 6.110% due 12/20/30(a) | 455862 |
| 1600000 |  | Baa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class C, 5.870% due 8/20/29(a) | 1635415 |
|  |  |  | Bridgecrest Lending Auto Securitization Trust: |  |
| 1500000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class E, 7.700% due 4/15/31(a) | 1529724 |
| 950000 |  | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4, Class E, 7.470% due 8/15/31(a) | 972951 |
| 1080000 |  | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class D, 5.620% due 3/17/31 | 1092476 |
|  |  |  | Carmax Auto Owner Trust: |  |
| 870000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class A4, 4.650% due 11/15/30 | 886582 |
| 570000 |  | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class C, 5.160% due 1/15/31 | 579977 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **ASSET-BACKED SECURITIES - 2.0%** | **ASSET-BACKED SECURITIES - 2.0%** | **ASSET-BACKED SECURITIES - 2.0%** |  |
| **Automobiles - 1.7% - (continued)** | **Automobiles - 1.7% - (continued)** | **Automobiles - 1.7% - (continued)** |  |
| $1850000 | BBB | Consumer Portfolio Services Auto Trust, Series 2025-B, Class D, 5.560% due 7/15/31(a) | $1873131 |
| 1500000 | A | Credit Acceptance Auto Loan Trust, Series 2025-2A, Class C, 5.380% due 3/17/36(a)(q) | 1514853 |
| 1000000 | Baa3(b) | Drive Auto Receivables Trust, Series 2025-1, Class D, 5.410% due 9/15/32 | 1014734 |
| 1440000 | AAA | Enterprise Fleet Financing LLC, Series 2025-2, Class A4, 4.580% due 12/22/31(a) | 1467088 |
|  |  | Exeter Select Automobile Receivables Trust: |  |
| 1500000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class B, 4.870% due 8/15/31 | 1521208 |
| 1200000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class C, 5.400% due 8/15/31 | 1230202 |
| 583000 | AAA | Ford Credit Floorplan Master Owner Trust A, Series 2018-4, Class A, 4.060% due 11/15/30 | 585185 |
|  |  | GLS Auto Receivables Issuer Trust: |  |
| 1800000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class D, 5.590% due 1/15/31(a) | 1827907 |
| 1500000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A, Class D, 5.130% due 8/15/31(a) | 1511258 |
| 270000 | Aaa(b) | Hertz Vehicle Financing III LLC, Series 2023-4A, Class A, 6.150% due 3/25/30(a) | 282563 |
| 295611 | AAA | Hyundai Auto Receivables Trust, Series 2023-C, Class A3, 5.540% due 10/16/28 | 298446 |
| 933000 | AAA | Octane Receivables Trust, Series 2024-1A, Class B, 5.660% due 5/20/30(a) | 946843 |
|  |  | Santander Drive Auto Receivables Trust: |  |
| 2000000 | Baa2(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class D, 6.280% due 8/15/31 | 2059600 |
| 1200000 | Baa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class D, 5.110% due 9/15/31 | 1207620 |
| 365000 | Baa3(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class D, 4.950% due 1/15/32 | 366669 |
| 505000 | A+ | Westlake Automobile Receivables Trust, Series 2023-2A, Class D, 7.010% due 11/15/28(a) | 514201 |
|  |  | Total Automobiles | 31531709 |
| **Credit Cards - 0.2%** | **Credit Cards - 0.2%** | **Credit Cards - 0.2%** |  |
|  |  | American Express Credit Account Master Trust: |  |
| 275000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2, Class A, 4.800% due 5/15/30 | 282061 |
| 300000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class A, 4.650% due 7/15/29 | 304167 |
|  |  | Perimeter Master Notes Business Trust: |  |
| 1100000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 5.580% due 12/16/30(a) | 1107487 |
| 999000 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class B, 6.120% due 12/16/30(a) | 1008607 |
|  |  | Total Credit Cards | 2702322 |
| **Student Loans - 0.1%** | **Student Loans - 0.1%** | **Student Loans - 0.1%** |  |
| 796811 | Aa1(b) | ECMC Group Student Loan Trust, Series 2017-2A, Class A, 5.236%<br>(30-Day Average SOFR + 1.164%) due 5/25/67(a)(d) | 800083 |
| 868056 | AA+ | Navient Student Loan Trust, Series 2017-3A, Class A3, 5.236%<br>(30-Day Average SOFR + 1.164%) due 7/26/66(a)(d) | 875693 |
| 477913 | AAA | Nelnet Student Loan Trust, Series 2006-1, Class A6, 4.589%<br>(3-Month Term SOFR + 0.712%) due 8/23/36(a)(d) | 475310 |
|  |  | Total Student Loans | 2151086 |
|  |  | **TOTAL ASSET-BACKED SECURITIES**<br> (Cost - $35,917,722) | **36385117** |
| **Shares/Units** |  |  |  |
| **OPEN END MUTUAL FUND SECURITIES - 0.2%** | **OPEN END MUTUAL FUND SECURITIES - 0.2%** | **OPEN END MUTUAL FUND SECURITIES - 0.2%** |  |
| **Financials - 0.2%** | **Financials - 0.2%** | **Financials - 0.2%** |  |
| **Capital Markets - 0.2%** | **Capital Markets - 0.2%** | **Capital Markets - 0.2%** |  |
| 7300 |  | State Street SPDR Portfolio High Yield Bond ETF | 173886 |
| 36241 |  | Vanguard Intermediate-Term Corporate Bond ETF | 3064177 |
|  |  | **TOTAL OPEN END MUTUAL FUND SECURITIES**<br> (Cost - $3,205,566) | **3238063** |
| **Face**<br> **Amount/Units†** |  |  |  |
| **MUNICIPAL BONDS - 0.1%** | **MUNICIPAL BONDS - 0.1%** | **MUNICIPAL BONDS - 0.1%** |  |
| **California - 0.1%** | **California - 0.1%** | **California - 0.1%** |  |
| 310000 | AA- | California Health Facilities Financing Authority, Revenue Bonds, 3.000% due 8/15/51 | 231210 |
| 100000 | AA- | California State University, Revenue Bonds, Series B, 5.183% due 11/1/53 | 97263 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **MUNICIPAL BONDS - 0.1% - (continued)** | **MUNICIPAL BONDS - 0.1% - (continued)** | **MUNICIPAL BONDS - 0.1% - (continued)** |  |
| **California - 0.1% - (continued)** | **California - 0.1% - (continued)** | **California - 0.1% - (continued)** |  |
| $205000 | A | Los Angeles Department of Water & Power, Revenue Bonds, 6.574% due 7/1/45 | $223466 |
|  |  | State of California, GO: |  |
| 150000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 10/1/41 | 157742 |
| 100000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600% due 4/1/38 | 102086 |
|  |  | University of California, Revenue Bonds: |  |
| 25000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series AD, 4.858% due 5/15/12 | 21307 |
| 266000 | AA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series AQ, 4.767% due 5/15/15 | 222447 |
|  |  | Total California | 1055521 |
| **Connecticut - 0.0%@** | **Connecticut - 0.0%@** | **Connecticut - 0.0%@** |  |
| 200000 | AA- | State of Connecticut, GO, 5.850% due 3/15/32 | 215777 |
| **Florida - 0.0%@** | **Florida - 0.0%@** | **Florida - 0.0%@** |  |
| 50000 | AA | State Board of Administration Finance Corp., Series A, Revenue Bonds,<br>5.526% due 7/1/34 | 52918 |
| **Illinois - 0.0%@** | **Illinois - 0.0%@** | **Illinois - 0.0%@** |  |
| 150000 | A+ | Chicago O'Hare International Airport, Revenue Bonds, Series C, 4.472% due 1/1/49 | 134021 |
| 218137 | A- | State of Illinois, GO, 5.100% due 6/1/33 | 224003 |
|  |  | Total Illinois | 358024 |
| **Minnesota - 0.0%@** | **Minnesota - 0.0%@** | **Minnesota - 0.0%@** |  |
| 260000 | AA | University of Minnesota, Revenue Bonds, 4.048% due 4/1/52 | 215329 |
| **New Jersey - 0.0%@** | **New Jersey - 0.0%@** | **New Jersey - 0.0%@** |  |
| 215000 | Aa3(b) | Jersey City Municipal Utilities Authority, Revenue Bonds, Series B, 5.470% due 5/15/27 | 218471 |
| 85000 | A | New Jersey Transportation Trust Fund Authority, Revenue Bonds, Series B,<br>6.561% due 12/15/40 | 95588 |
|  |  | Total New Jersey | 314059 |
| **New York - 0.0%@** | **New York - 0.0%@** | **New York - 0.0%@** |  |
| 100000 | AA | City of New York, GO, 5.263% due 10/1/52 | 97428 |
| 150000 | AA- | Port Authority of New York & New Jersey, Revenue Bonds, Series 239,<br>5.072% due 7/15/53 | 146920 |
|  |  | Total New York | 244348 |
| **Texas - 0.0%@** | **Texas - 0.0%@** | **Texas - 0.0%@** |  |
| 40000 | AA- | Dallas Fort Worth International Airport, Series A, Revenue Bonds, 3.144% due 11/1/45 | 31368 |
|  |  | **TOTAL MUNICIPAL BONDS**<br> (Cost - $2,692,439) | **2487344** |
| **SENIOR LOANS - 0.1%** | **SENIOR LOANS - 0.1%** | **SENIOR LOANS - 0.1%** |  |
| **Airlines - 0.0%@** | **Airlines - 0.0%@** | **Airlines - 0.0%@** |  |
| 49500 | NR | VistaJet Malta Finance PLC, 7.735%<br>(3-Month CME Term SOFR + 3.750%) due 4/1/31(d) | 49984 |
| **Healthcare - Services - 0.1%** | **Healthcare - Services - 0.1%** | **Healthcare - Services - 0.1%** |  |
|  |  | ModivCare Inc.: |  |
| 143677 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15.435% (3-Month CME Term SOFR + 7.500%) due 1/12/26(d)(h) | 62545 |
| 70692 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.951% (1-Month CME Term SOFR + 7.000%) due 2/22/26(d)(q) | 69985 |
| 41916 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.006% (1-Month CME Term SOFR + 7.000%) due 2/22/26(d)(q) | 41497 |
| 835671 | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.752% (3-Month CME Term SOFR + 8.750%) due 7/1/31(d)(h) | 363780 |
|  |  | Total Healthcare - Services | 537807 |
| **Software - 0.0%@** | **Software - 0.0%@** | **Software - 0.0%@** |  |
| 369391 | NR | Rocket Software Inc., 7.666% (1-Month CME Term SOFR + 3.750%) due 11/28/28(d) | 368799 |
| **Telecommunications - 0.0%@** | **Telecommunications - 0.0%@** | **Telecommunications - 0.0%@** |  |
| 527305 | NR | Lumen Technologies Inc., 6.380% (1-Month CME Term SOFR + 2.350%) due 4/15/30(d) | 525164 |
|  |  | **TOTAL SENIOR LOANS**<br> (Cost - $2,017,142) | **1481754** |
| **COLLATERALIZED LOAN OBLIGATION - 0.1%** | **COLLATERALIZED LOAN OBLIGATION - 0.1%** | **COLLATERALIZED LOAN OBLIGATION - 0.1%** |  |
| **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** |  |
| 1060000 | Aaa(b) | TRTX Issuer Ltd., Series 2025-FL7, Class A, zero coupon<br>(1-Month Term SOFR + 1.450%) due 6/18/43(a)(d) |  |
|  |  | (Cost - $1,060,000) | **1060992** |
| **Shares/Units** |  |  |  |
| **RIGHT - 0.0%@** | **RIGHT - 0.0%@** | **RIGHT - 0.0%@** |  |
| **COMMUNICATIONS - 0.0%@** | **COMMUNICATIONS - 0.0%@** | **COMMUNICATIONS - 0.0%@** |  |
| **Telecommunications - 0.0%@** | **Telecommunications - 0.0%@** | **Telecommunications - 0.0%@** |  |
|  | 11289 | SES SA expires 12/31/49\*(h)(q) |  |
|  |  | (Cost - $4) | **–** |
|  |  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $1,754,605,653) | **1755089358** |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **SHORT-TERM INVESTMENTS(n) - 5.4%** | **SHORT-TERM INVESTMENTS(n) - 5.4%** |  |
| **MONEY MARKET FUND - 0.5%** | **MONEY MARKET FUND - 0.5%** |  |
| $8915314  | Invesco STIT - Government & Agency Portfolio, Institutional Class, 4.027%(o)<br> (Cost - $8,915,314) | $**8915314** |
| **TIME DEPOSITS - 3.7%** | **TIME DEPOSITS - 3.7%** |  |
| 521 <sup>AUD</sup> | ANZ National Bank - Hong Kong, 2.300% due 12/1/25 | 341 |
| 21155 <sup>ZAR</sup> | BBH - New York, 4.580% due 12/1/25 | 1237 |
|  | Citibank - London: |  |
| 872508 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.880% due 12/1/25 | 1011804 |
| 33652 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.910% due 12/1/25 | 44530 |
| 21454524 | Citibank - New York, 3.220% due 12/1/25 | 21454524 |
| 54 <sup>SGD</sup> | HSBC Bank - Singapore, 0.350% due 12/1/25 | 42 |
| 30466692 | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25 | 30466692 |
| 15108822 | Royal Bank of Canada - Toronto, 3.220% due 12/1/25 | 15108822 |
|  | **TOTAL TIME DEPOSITS**<br> (Cost - $68,087,992) | **68087992** |
| **U.S. GOVERNMENT OBLIGATION - 1.2%** | **U.S. GOVERNMENT OBLIGATION - 1.2%** |  |
| 21500000 | U.S. Treasury Bills, 3.872% due 12/16/25(p)<br> (Cost - $21,465,403) | **21465403** |
|  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $98,468,709) | **98468709** |
|  | **TOTAL INVESTMENTS - 102.2%**<br> (Cost - $1,853,074,362) | **1853558067** |
|  | Liabilities in Excess of Other Assets - (2.2)% | (39903976) |
|  | **TOTAL NET ASSETS - 100.0%** | $**1813654091** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

†† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.

\* Non-income producing security.

---

| | |
|:---|:---|
| @ | The amount is less than 0.05%.  |

---

(a) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30,
2025, amounts to $437,078,788 and represents 24.1% of net assets.

(b) Rating by Moody's Investors Service.

(c) The aggregate value of restricted securities (excluding 144A holdings) at November 30, 2025, amounts to
$43,628,445 and represents 2.4% of net assets.

(d) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2025.

(e) Security is perpetual in nature and has no stated maturity date.

(f) All or a portion of this security is on loan (See Note 1).

(g) Security is currently in default.

(h) Illiquid security.

(i) Inverse Floating Rate Security - interest rate fluctuates with an inverse relationship to an associated
interest rate. Indicated rate is the effective rate as of November 30, 2025.

(j) This security is traded on a TBA basis (see Note 1).

(k) Rating by Fitch Ratings Service.

(l) Principal only security.

(m) Interest only security.

(n) Inclusive of all short-term holdings, including investments of collateral received from securities lending
transactions. Excluding such collateral, the percentage of portfolio holdings would be 4.9%.

(o) Represents investments of collateral received from securities lending transactions.

(p) Rate shown represents yield-to-maturity.

(q) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

# Security that used significant unobservable inputs to determine fair value. At November 30, 2025, the Fund held a Level 3 security with a value of $0, representing 0.0% of net assets. 

At November 30, 2025, for Core Fixed Income Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income**<br>**Tax Purposes** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net**<br>**Unrealized<br>Appreciation** |
|  Core Fixed Income Fund | $1853074362 | $39176224 | $(37362955) | $1813269 |

---

**<u>Abbreviations used in this schedule:</u>** 

---

| | |
|:---|:---|
|  ACES | Alternative Credit Enhancement Securities |
|  CME | Chicago Mercantile Exchange |
|  CMT | Constant Maturity Treasury Rate |
|  DAC | Designated Activity Company |
|  EURIBOR | Euro Interbank Offered Rate |
|  ETF | Exchange-Traded Fund |
|  GO | General Obligation |
|  IBOR | Interbank Offered Rate |
|  ICE | Intercontinental Exchange |
|  LIBOR | London Interbank Offered Rate |
|  LLC | Limited Liability Company |
|  MBS | Mortgage-Backed Security |
|  OAT | Obligations assimilables du Trésor |
|  PLC | Public Limited Company |
|  REMICS | Real Estate Mortgage Investment Conduits |
|  SOFR | Secured Overnight Financing Rate |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Security Type^** | | |
| Corporate Bonds & Notes | 30.0 | % |
| Mortgage-Backed Securities | 26.6 |  |
| U.S. Government Obligations | 19.2 |  |
| Collateralized Mortgage Obligations | 13.4 |  |
| Sovereign Bonds | 3.4 |  |
| Asset-Backed Securities | 2.0 |  |
| Open End Mutual Fund Securities | 0.2 |  |
| Municipal Bonds | 0.1 |  |
| Senior Loans | 0.1 |  |
| Collateralized Loan Obligation | 0.1 |  |
| Right | 0.0 | \* |
| Short-Term Investments | 4.9 |  |
| Total Investments | 100.0 | %+ |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

\* Position represents less than 0.05%. 

+ Does not reflect investments of collateral received from securities lending transactions.

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

At November 30, 2025, Core Fixed Income Fund had open exchange-traded futures contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of**<br> **Contracts** | **Expiration**<br>**Date**<br>**(Month/Year)** | **Notional**<br>**Amount** | **Value** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 2-Year Note Futures | 457 | 3/26 | $95428389 | $95448735 | $20346 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 5-Year Note Futures | 308 | 3/26 | 33774862 | 33807812 | 32950 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 10-Year Note Futures | 512 | 3/26 | 57847781 | 58032000 | 184219 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Long Bond Futures | 126 | 3/26 | 14706563 | 14797125 | 90562 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Ultra Long Bond Futures | 310 | 3/26 | 37179359 | 37490625 | 311266 |
|  |  |  |  |  | 639343 |
|  **Contracts to Sell:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Bobl Futures | 27 | 12/25 | 3691201 | 3693080 | (1879) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Bund Futures | 42 | 12/25 | 6238662 | 6277139 | (38477) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Ultra Long Bond Futures | 125 | 3/26 | 14470733 | 14525391 | (54658) |
|  |  |  |  |  | (95014) |
|  Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts |  |  | $544329 |

---

At November 30, 2025, Core Fixed Income Fund had deposited cash of $1,908,000 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

At November 30, 2025, Core Fixed Income Fund had open forward foreign currency contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 1132500 | USD | 752886 | GSC | $741700 | 12/31/25 | $(11186) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 1000000 | USD | 1352720 | GSC | 1323262 | 12/31/25 | (29458) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 1700000 | USD | 2276258 | GSC | 2249547 | 12/31/25 | (26711) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 650000 | USD | 855940 | SSB | 860121 | 12/31/25 | 4181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 300000 | USD | 357522 | GSC | 348473 | 12/31/25 | (9049) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 865000 | USD | 1002995 | GSC | 1004763 | 12/31/25 | 1768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 490000000 | USD | 3373726 | GSC | 3147112 | 12/30/25 | (226614) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 35835000 | USD | 2072161 | CITI | 2089642 | 12/31/25 | 17481 |
|  |  |  |  |  |  |  | (279588) |
|  **Contracts to Sell:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 6332500 | USD | 4232010 | GSC | 4147300 | 12/31/25 | 84710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 30490000 | USD | 5623282 | GSC | 5676600 | 12/31/25 | (53318) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 7500000 | USD | 1374759 | GSC | 1396343 | 12/31/25 | (21584) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 3800000 | USD | 696736 | GSC | 707480 | 12/31/25 | (10744) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 2600000 | USD | 3510702 | GSC | 3440482 | 12/31/25 | 70220 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 6332500 | USD | 8646079 | GSC | 8379559 | 12/31/25 | 266520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Colombian Peso | 14148000000 | USD | 3586903 | GSC | 3755215 | 12/30/25 | (168312) |
| &nbsp;&nbsp;&nbsp;&nbsp; Czech Koruna | 36100000 | USD | 1722254 | GSC | 1732852 | 12/31/25 | (10598) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 1500000 | USD | 1739610 | GSC | 1742365 | 12/31/25 | (2755) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 2500000 | USD | 2914000 | GSC | 2903941 | 12/31/25 | 10059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 26095000 | USD | 31003991 | GSC | 30311337 | 12/31/25 | 692654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 490000000 | USD | 3344504 | GSC | 3147112 | 12/30/25 | 197392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 2500000 | USD | 1929846 | GSC | 1933587 | 12/31/25 | (3741) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 35835000 | USD | 2046522 | CITI | 2089642 | 12/31/25 | (43120) |
|  |  |  |  |  |  |  | 1007383 |
|  Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | $727795 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

At November 30, 2025, Core Fixed Income Fund held the following Centrally Cleared Credit Default Swap Contract:

**Centrally Cleared - Credit Default Swap on Index - Sell Protection (1)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation & Rating** | **Fixed Deal<br>Receive Rate** | **Maturity**<br> **Date** | **Payment**<br> **Frequency** | **Implied Credit<br>Spread at<br>11/30/25 (2)** | **Notional <br>Amount (3)** | **Notional <br>Amount (3)** | **Value** | **Upfront<br>Payment<br>Paid** | **Unrealized<br>Appreciation** |
|  Markit CDX North America High Yield Series 44 5-Year Index, NR | 5.000% | 6/20/30 | 3-Month | 2.997% | USD | 3530000 | $309330 | $251890 | $57440 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

(1) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular
swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay
a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(2) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit
default swap agreements on corporate issues or sovereign issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit
derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration
of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as ''Defaulted'' indicates
a credit event has occurred for the referenced entity or obligation.

(3) The maximum potential amount the Fund could be required to make as a seller of credit protection or receive as
a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

At November 30, 2025, Core Fixed Income Fund had cash collateral from brokers in the amount of $760,000 for open centrally cleared swap contracts.

------

**Schedules of Investments** 

(unaudited) (continued)

**Core Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **<u>Currency abbreviations used in this schedule:</u>** | **<u>Currency abbreviations used in this schedule:</u>** | **<u>Counterparty abbreviations used in this schedule:</u>** | **<u>Counterparty abbreviations used in this schedule:</u>** |
| AUD | Australian Dollar | CITI | Citigroup Global Markets Inc. |
| BRL | Brazilian Real | GSC | Goldman Sachs & Co. |
| COP | Colombian Peso | SSB | State Street Bank & Trust Co. |
| CZK | Czech Koruna |  |  |
| EUR | Euro |  |  |
| GBP | British Pound |  |  |
| MXN | Mexican Peso |  |  |
| SGD | Singapore Dollar |  |  |
| USD | United States Dollar |  |  |
| ZAR | South African Rand |  |  |

---

**See pages 268-270 for definitions of ratings.** 

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1%** | **CORPORATE BONDS & NOTES - 93.1%** | **CORPORATE BONDS & NOTES - 93.1%** | **CORPORATE BONDS & NOTES - 93.1%** |
| **Advertising - 0.8%** | **Advertising - 0.8%** | **Advertising - 0.8%** | **Advertising - 0.8%** |
| $1178000 | B | Neptune Bidco U.S. Inc., Senior Secured Notes, 9.290% due 4/15/29(a) | $1173586 |
| **Aerospace/Defense - 0.5%** | **Aerospace/Defense - 0.5%** | **Aerospace/Defense - 0.5%** |  |
|  |  | ATI Inc., Senior Unsecured Notes: |  |
| 484000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 10/1/29 | 483413 |
| 210000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 10/1/31 | 210587 |
|  |  | Total Aerospace/Defense | 694000 |
| **Airlines - 1.2%** | **Airlines - 1.2%** | **Airlines - 1.2%** | **Airlines - 1.2%** |
| 405000 | BBB- | Air Canada, Senior Secured Notes, 3.875% due 8/15/26(a) | 403134 |
|  |  | American Airlines Inc., Senior Secured Notes: |  |
| 615000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 2/15/28(a)(b) | 630059 |
| 240000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500% due 5/15/29(a) | 250865 |
|  |  | United Airlines Inc., Senior Secured Notes: |  |
| 106000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 4/15/26(a) | 105947 |
| 451000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 4/15/29(a) | 449025 |
|  |  | Total Airlines | 1839030 |
| **Auto Parts & Equipment - 0.5%** | **Auto Parts & Equipment - 0.5%** | **Auto Parts & Equipment - 0.5%** | **Auto Parts & Equipment - 0.5%** |
|  |  | American Axle & Manufacturing Inc.: |  |
| 360000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 7.750% due 10/15/33(a) | 363848 |
| 420000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 6.375% due 10/15/32(a) | 422895 |
|  |  | Total Auto Parts & Equipment | 786743 |
| **Banks - 0.4%** | **Banks - 0.4%** | **Banks - 0.4%** | **Banks - 0.4%** |
| 576000 | BB | Walker & Dunlop Inc., Company Guaranteed Notes, 6.625% due 4/1/33(a) | 592544 |
| **Building Materials - 0.4%** | **Building Materials - 0.4%** | **Building Materials - 0.4%** | **Building Materials - 0.4%** |
| 615000 | BB+ | Standard Industries Inc., Senior Unsecured Notes, 3.375% due 1/15/31(a) | 564775 |
| **Chemicals - 1.5%** | **Chemicals - 1.5%** | **Chemicals - 1.5%** | **Chemicals - 1.5%** |
| 901000 | CCC+ | Consolidated Energy Finance SA, Company Guaranteed Notes, 5.625% due 10/15/28(a)(b) | 626420 |
|  |  | Methanex Corp., Senior Unsecured Notes: |  |
| 215000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 10/15/27 | 215762 |
| 4000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 12/15/29 | 4007 |
| 800000 | BB | Methanex U.S. Operations Inc., Company Guaranteed Notes, 6.250% due 3/15/32(a)(b) | 821988 |
| 557000 | BB- | Minerals Technologies Inc., Company Guaranteed Notes, 5.000% due 7/1/28(a) | 553263 |
|  |  | Total Chemicals | 2221440 |
| **Coal - 0.1%** | **Coal - 0.1%** | **Coal - 0.1%** | **Coal - 0.1%** |
| 152000 | BB+ | Warrior Met Coal Inc., Senior Secured Notes, 7.875% due 12/1/28(a) | 155439 |
| **Commercial Services - 6.9%** | **Commercial Services - 6.9%** | **Commercial Services - 6.9%** | **Commercial Services - 6.9%** |
|  |  | Avis Budget Car Rental LLC/Avis Budget Finance Inc., Company Guaranteed Notes: |  |
| 306000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 3/1/29(a) | 296852 |
| 170000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250% due 1/15/30(a) | 175217 |
| 207000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375% due 6/15/32(a) | 213328 |
|  |  | Block Inc., Senior Unsecured Notes: |  |
| 390000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 5/15/32(a) | 407900 |
| 160000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 8/15/33(a) | 164563 |
| 510000 | BB | Boost Newco Borrower LLC, Senior Secured Notes, 7.500% due 1/15/31(a) | 541990 |
| 709000 | B- | Champions Financing Inc., Senior Secured Notes, 8.750% due 2/15/29(a)(b) | 709260 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Commercial Services - 6.9% - (continued)** | **Commercial Services - 6.9% - (continued)** | **Commercial Services - 6.9% - (continued)** | **Commercial Services - 6.9% - (continued)** |
|  |  | Deluxe Corp.: |  |
| $822000 | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 8.000% due 6/1/29(a)(b) | $832004 |
| 130000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 8.125% due 9/15/29(a) | 137099 |
|  |  | EquipmentShare.com Inc.: |  |
| 395000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secured Notes, 8.625% due 5/15/32(a) | 406736 |
| 526000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 8.000% due 3/15/33(a)(b) | 536639 |
| 745000 | B | Garda World Security Corp., Senior Secured Notes, 6.500% due 1/15/31(a) | 765412 |
|  |  | Herc Holdings Inc., Company Guaranteed Notes: |  |
| 219000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 6/15/30(a) | 230066 |
| 455000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 6/15/33(a) | 482040 |
|  |  | Hertz Corp. (The): |  |
| 367000 | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 4.625% due 12/1/26(a) | 357708 |
| 315000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 12.625% due 7/15/29(a) | 314981 |
| 430000 | B+ | ION Platform Finance U.S. Inc., Senior Secured Notes, 7.875% due 9/30/32(a) | 410249 |
| 890000 | B | Mobius Merger Sub Inc., Senior Secured Notes, 9.000% due 6/1/30(a)(b) | 639787 |
| 522000 | BB- | Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., Company Guaranteed Notes, 6.750% due 8/15/32(a) | 543395 |
| 660000 | B+ | Veritiv Operating Co., Senior Secured Notes, 10.500% due 11/30/30(a) | 710149 |
| 684000 | B | VM Consolidated Inc., Company Guaranteed Notes, 5.500% due 4/15/29(a) | 684222 |
| 544000 | B | WEX Inc., Company Guaranteed Notes, 6.500% due 3/15/33(a) | 555266 |
|  |  | Total Commercial Services | 10114863 |
| **Computers - 0.7%** | **Computers - 0.7%** | **Computers - 0.7%** | **Computers - 0.7%** |
| 520000 | B | Fortress Intermediate 3 Inc., Senior Secured Notes, 7.500% due 6/1/31(a) | 543235 |
| 62000 | B+ | NCR Voyix Corp., Company Guaranteed Notes, 5.125% due 4/15/29(a) | 61485 |
|  |  | Seagate Data Storage Technology Pte Ltd., Company Guaranteed Notes: |  |
| 210000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.091% due 6/1/29(a) | 205672 |
| 188000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 1/15/31(a)(b) | 179150 |
|  |  | Total Computers | 989542 |
| **Cosmetics/Personal Care - 1.1%** | **Cosmetics/Personal Care - 1.1%** | **Cosmetics/Personal Care - 1.1%** | **Cosmetics/Personal Care - 1.1%** |
| 718000 | BB- | Edgewell Personal Care Co., Company Guaranteed Notes, 4.125% due 4/1/29(a) | 677451 |
| 940000 | B+ | Perrigo Finance Unlimited Co., Company Guaranteed Notes, 6.125% due 9/30/32(b) | 918504 |
|  |  | Total Cosmetics/Personal Care | 1595955 |
| **Diversified Financial Services - 7.7%** | **Diversified Financial Services - 7.7%** | **Diversified Financial Services - 7.7%** | **Diversified Financial Services - 7.7%** |
|  |  | Air Lease Corp., Junior Subordinated Notes: |  |
| 325000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% (5-Year CMT Index + 3.149%)(c)(d) | 315062 |
| 414000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.650% (5-Year CMT Index + 4.076%)(c)(d) | 410284 |
| 735000 | BB+ | Aircastle Ltd., Junior Subordinated Notes, 5.250% (5-Year CMT Index + 4.410%)(a)(c)(d) | 732213 |
| 747000 | BB+ | Ally Financial Inc., Subordinated Notes, 6.700% due 2/14/33 | 782544 |
| 510000 | BB- | Bread Financial Holdings Inc., Company Guaranteed Notes, 6.750% due 5/15/31(a) | 521288 |
| 513000 | BB | Burford Capital Global Finance LLC, Company Guaranteed Notes, 6.250% due 4/15/28(a) | 511871 |
| 941000 | CCC | Cobra AcquisitionCo LLC, Company Guaranteed Notes, 6.375% due 11/1/29(a) | 818790 |
|  |  | Credit Acceptance Corp., Company Guaranteed Notes: |  |
| 627000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250% due 12/15/28(a) | 658749 |
| 285000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 3/15/30(a) | 283463 |
| 249000 | BB- | EZCORP Inc., Company Guaranteed Notes, 7.375% due 4/1/32(a) | 261663 |
| 715000 | B | Focus Financial Partners LLC, Senior Secured Notes, 6.750% due 9/15/31(a) | 739302 |
|  |  | goeasy Ltd.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 470000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 5/15/30(a) | 450330 |
| 155000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 2/15/31(a) | 146387 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Diversified Financial Services - 7.7% - (continued)** | **Diversified Financial Services - 7.7% - (continued)** | **Diversified Financial Services - 7.7% - (continued)** | **Diversified Financial Services - 7.7% - (continued)** |
| $297000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 7.625% due 7/1/29(a) | $294726 |
|  |  | Jane Street Group/JSG Finance Inc., Senior Secured Notes: |  |
| 200000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 11/15/29(a) | 197021 |
| 405000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125% due 4/30/31(a) | 426964 |
| 440000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 11/1/32(a) | 447984 |
| 123000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 5/1/33(a) | 128745 |
| 700000 | B2(e) | Phoenix Aviation Capital Ltd., Senior Unsecured Notes, 9.250% due 7/15/30(a) | 745226 |
| 875000 | B- | Planet Financial Group LLC, Company Guaranteed Notes, 10.500% due 12/15/29(a) | 917272 |
| 735000 | B1(e) | Rfna LP, Senior Unsecured Notes, 7.875% due 2/15/30(a) | 745838 |
| 710000 | B+ | VFH Parent LLC/Valor Co.-Issuer Inc., Senior Secured Notes, 7.500% due 6/15/31(a) | 746883 |
|  |  | Total Diversified Financial Services | 11282605 |
| **Electric - 4.6%** | **Electric - 4.6%** | **Electric - 4.6%** | **Electric - 4.6%** |
| 488000 | BB | Atlantica Sustainable Infrastructure Ltd., Company Guaranteed Notes, 4.125% due 6/15/28(a) | 477185 |
| 232000 | B+ | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC, Senior Unsecured Notes, 6.375% due 2/15/32(a) | 232177 |
| 795000 | BB | Clearway Energy Operating LLC, Company Guaranteed Notes, 3.750% due 1/15/32(a) | 728349 |
|  |  | NRG Energy Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 174000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 1/15/28 | 174591 |
| 290000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 6/15/29(a) | 291404 |
| 597000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 2/15/31(a) | 559257 |
| 170000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 11/1/34(a) | 175296 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 125000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 1/15/34(a) | 126086 |
| 100000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 1/15/36(a) | 101622 |
| 910000 | Ba3(e) | Pattern Energy Operations LP/Pattern Energy Operations Inc., Company Guaranteed Notes, 4.500% due 8/15/28(a) | 887376 |
|  |  | Talen Energy Supply LLC, Company Guaranteed Notes: |  |
| 375000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 2/1/34(a) | 382331 |
| 375000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 2/1/36(a) | 387941 |
|  |  | Vistra Operations Co. LLC, Company Guaranteed Notes: |  |
| 170000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 10/15/31(a) | 180679 |
| 320000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 4/15/32(a) | 336761 |
|  |  | XPLR Infrastructure Operating Partners LP: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 445000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 9/15/27(a) | 438602 |
| 127000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375% due 1/15/31(a)(b) | 133171 |
| 331000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 4/15/34(a) | 336739 |
| 838000 | BB | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 7.250% due 1/15/29(a) | 859344 |
|  |  | Total Electric | 6808911 |
| **Electrical Components & Equipment - 0.7%** | **Electrical Components & Equipment - 0.7%** | **Electrical Components & Equipment - 0.7%** | **Electrical Components & Equipment - 0.7%** |
|  |  | EnerSys, Company Guaranteed Notes: |  |
| 485000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 12/15/27(a) | 482788 |
| 29000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 1/15/32(a) | 30174 |
| 504000 | BB | WESCO Distribution Inc., Company Guaranteed Notes, 6.375% due 3/15/33(a) | 528774 |
|  |  | Total Electrical Components & Equipment | 1041736 |
| **Electronics - 0.9%** | **Electronics - 0.9%** | **Electronics - 0.9%** | **Electronics - 0.9%** |
| 700000 | BB | Imola Merger Corp., Senior Secured Notes, 4.750% due 5/15/29(a) | 692021 |
| 730000 | BB- | TTM Technologies Inc., Company Guaranteed Notes, 4.000% due 3/1/29(a) | 707796 |
|  |  | Total Electronics | 1399817 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Entertainment - 3.3%** | **Entertainment - 3.3%** | **Entertainment - 3.3%** | **Entertainment - 3.3%** |
| $755000 | B+ | Banijay Entertainment SAS, Senior Secured Notes, 8.125% due 5/1/29(a) | $786666 |
| 675000 | BBB- | Flutter Treasury DAC, Senior Secured Notes, 5.875% due 6/4/31(a) | 682179 |
| 490000 | B+ | Light & Wonder International Inc., Company Guaranteed Notes, 6.250% due 10/1/33(a) | 493317 |
| 795000 | B- | Ontario Gaming GTA LP/OTG Co.-Issuer Inc., Senior Secured Notes, 8.000% due 8/1/30(a) | 780804 |
| 753000 | B+ | SeaWorld Parks & Entertainment Inc., Company Guaranteed Notes, 5.250% due 8/15/29(a)(b) | 728951 |
| 840000 | B | Voyager Parent LLC, Senior Secured Notes, 9.250% due 7/1/32(a) | 890677 |
| 715000 | BB | Warnermedia Holdings Inc., Company Guaranteed Notes, 5.050% due 3/15/42 | 572565 |
|  |  | Total Entertainment | 4935159 |
| **Environmental Control - 0.2%** | **Environmental Control - 0.2%** | **Environmental Control - 0.2%** | **Environmental Control - 0.2%** |
| 295000 | BB+ | Clean Harbors Inc., Company Guaranteed Notes, 5.750% due 10/15/33(a) | 301737 |
| **Food - 1.5%** | **Food - 1.5%** | **Food - 1.5%** | **Food - 1.5%** |
|  |  | Albertsons Cos Inc./Safeway Inc./New Albertsons LP/Albertsons LLC, Company Guaranteed Notes: |  |
| 372000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 2/15/28(a) | 372984 |
| 76000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/31/31(a) | 77134 |
| 355000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 3/15/33(a) | 368070 |
| 251000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/31/34(a) | 253338 |
| 692000 | CCC+ | C&S Group Enterprises LLC, Company Guaranteed Notes, 5.000% due 12/15/28(a) | 643449 |
| 131000 | BB | Land O'Lakes Capital Trust I, Limited Guaranteed Notes, 7.450% due 3/15/28(a) | 135876 |
|  |  | Performance Food Group Inc., Company Guaranteed Notes: |  |
| 347000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 10/15/27(a) | 347345 |
| 70000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 8/1/29(a) | 68807 |
|  |  | Total Food | 2267003 |
| **Forest Products & Paper - 0.4%** | **Forest Products & Paper - 0.4%** | **Forest Products & Paper - 0.4%** | **Forest Products & Paper - 0.4%** |
| 622000 | B+ | Magnera Corp., Senior Secured Notes, 4.750% due 11/15/29(a) | 563157 |
| **Healthcare - Products - 1.5%** | **Healthcare - Products - 1.5%** | **Healthcare - Products - 1.5%** | **Healthcare - Products - 1.5%** |
| 760000 | BB | Avantor Funding Inc., Company Guaranteed Notes, 3.875% due 11/1/29(a) | 726092 |
| 588000 | B+ | Insulet Corp., Senior Unsecured Notes, 6.500% due 4/1/33(a) | 616306 |
| 297000 | BB- | Medline Borrower LP, Senior Secured Notes, 3.875% due 4/1/29(a) | 288539 |
| 625000 | BB- | Medline Borrower LP/Medline Co.-Issuer Inc., Senior Secured Notes, 6.250% due 4/1/29(a) | 647231 |
|  |  | Total Healthcare - Products | 2278168 |
| **Healthcare - Services - 1.9%** | **Healthcare - Services - 1.9%** | **Healthcare - Services - 1.9%** | **Healthcare - Services - 1.9%** |
| 778000 | B | Concentra Health Services Inc., Company Guaranteed Notes, 6.875% due 7/15/32(a) | 815520 |
| 323000 | B | Select Medical Corp., Company Guaranteed Notes, 6.250% due 12/1/32(a)(b) | 321064 |
| 462000 | BB- | Sotera Health Holdings LLC, Senior Secured Notes, 7.375% due 6/1/31(a) | 487140 |
|  |  | Tenet Healthcare Corp.: |  |
| 750000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 5.500% due 11/15/32(a) | 762375 |
| 405000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 6.000% due 11/15/33(a) | 418449 |
|  |  | Total Healthcare - Services | 2804548 |
| **Home Builders - 1.0%** | **Home Builders - 1.0%** | **Home Builders - 1.0%** | **Home Builders - 1.0%** |
| 695000 | BB- | Ashton Woods USA LLC/Ashton Woods Finance Co., Senior Unsecured Notes, 6.875% due 8/1/33(a) | 699180 |
|  |  | Mattamy Group Corp., Senior Unsecured Notes: |  |
| 201000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 12/15/27(a) | 201064 |
| 521000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 3/1/30(a) | 505903 |
|  |  | Total Home Builders | 1406147 |
| **Insurance - 2.2%** | **Insurance - 2.2%** | **Insurance - 2.2%** | **Insurance - 2.2%** |
| 666000 | B | Acrisure LLC/Acrisure Finance Inc., Senior Secured Notes, 6.750% due 7/1/32(a) | 682719 |
| 590000 | B | Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer, Senior Secured Notes, 6.500% due 10/1/31(a) | 607679 |
| 488000 | B | Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group Holdings Finance, Senior Secured Notes, 7.125% due 5/15/31(a) | 507034 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Insurance - 2.2% - (continued)** | **Insurance - 2.2% - (continued)** | **Insurance - 2.2% - (continued)** | **Insurance - 2.2% - (continued)** |
| $705000 | B | Howden UK Refinance PLC/Howden UK Refinance 2 PLC/Howden U.S. Refinance LLC, Senior Secured Notes, 7.250% due 2/15/31(a) | $723475 |
| 151000 | B- | Jones Deslauriers Insurance Management Inc., Senior Secured Notes, 8.500% due 3/15/30(a) | 158175 |
| 585000 | B | Panther Escrow Issuer LLC, Senior Secured Notes, 7.125% due 6/1/31(a) | 605415 |
|  |  | Total Insurance | 3284497 |
| **Internet - 2.2%** | **Internet - 2.2%** | **Internet - 2.2%** | **Internet - 2.2%** |
|  |  | Gen Digital Inc., Company Guaranteed Notes: |  |
| 101000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 9/30/27(a) | 103167 |
| 198000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125% due 9/30/30(a) | 204967 |
| 354000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 4/1/33(a) | 365162 |
| 795760 | CCC+ | GrubHub Holdings Inc., Senior Secured Notes, 13.000% (7.000% cash and 6.000% PIK until 3/31/26 then 5.500% until 9/30/26) due 7/31/30(a)(b)(f) | 679026 |
|  |  | ION Platform Finance U.S. Inc./ION Platform Finance Sarl, Senior Secured Notes: |  |
| 450000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 5/1/28(a) | 413855 |
| 490000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 5/15/28(a) | 460635 |
|  |  | Match Group Holdings II LLC, Senior Unsecured Notes: |  |
| 434000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 8/1/30(a) | 411396 |
| 149000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 10/1/31(a) | 136869 |
| 265000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 9/15/33(a) | 268946 |
| 225000 | BB- | Wayfair LLC, Senior Secured Notes, 6.750% due 11/15/32(a) | 230142 |
|  |  | Total Internet | 3274165 |
| **Investment Companies - 0.5%** | **Investment Companies - 0.5%** | **Investment Companies - 0.5%** | **Investment Companies - 0.5%** |
|  |  | HA Sustainable Infrastructure Capital Inc., Company Guaranteed Notes: |  |
| 233000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 7/15/35 | 241623 |
| 435000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000% (5-Year CMT Index + 4.301%) due 6/1/56(c) | 443545 |
|  |  | Total Investment Companies | 685168 |
| **Iron/Steel - 2.4%** | **Iron/Steel - 2.4%** | **Iron/Steel - 2.4%** | **Iron/Steel - 2.4%** |
|  |  | Cleveland-Cliffs Inc.: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 330000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 3/15/32(a) | 338678 |
| 660000 | Ba3(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375% due 5/1/33(a)(b) | 681368 |
| 320000 | Ba3(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625% due 1/15/34(a) | 332318 |
| 48000 | B | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 6.250% due 10/1/40 | 41737 |
|  |  | Commercial Metals Co., Senior Unsecured Notes: |  |
| 665000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 2/15/31 | 629677 |
| 69000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 11/15/33(a) | 70605 |
| 138000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 12/15/35(a) | 140663 |
|  |  | Mineral Resources Ltd., Senior Unsecured Notes: |  |
| 398000 | Ba3(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250% due 10/1/28(a) | 418396 |
| 639000 | Ba3(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500% due 5/1/30(a) | 664621 |
| 142000 | Ba3(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 4/1/31(a) | 147701 |
|  |  | Total Iron/Steel | 3465764 |
| **Leisure Time - 2.4%** | **Leisure Time - 2.4%** | **Leisure Time - 2.4%** | **Leisure Time - 2.4%** |
|  |  | Carnival Corp., Company Guaranteed Notes: |  |
| 420000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 8/1/32(a) | 431073 |
| 595000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 2/15/33(a) | 613275 |
|  |  | NCL Corp., Ltd.: |  |
| 270000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 5.875% due 2/15/27(a) | 271069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes: |  |
| 374000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 2/15/29(a) | 397071 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Leisure Time - 2.4% - (continued)** | **Leisure Time - 2.4% - (continued)** | **Leisure Time - 2.4% - (continued)** | **Leisure Time - 2.4% - (continued)** |
| $350000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 3/1/30(a) | $354034 |
| 360000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 9/15/33(a) | 355974 |
|  |  | Royal Caribbean Cruises Ltd., Senior Unsecured Notes: |  |
| 290000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 3/15/32(a) | 300158 |
| 735000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 2/1/33(a) | 756995 |
|  |  | Total Leisure Time | 3479649 |
| **Lodging - 2.2%** | **Lodging - 2.2%** | **Lodging - 2.2%** | **Lodging - 2.2%** |
| 961000 | B | Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower Inc., Company Guaranteed Notes, 4.875% due 7/1/31(a) | 890941 |
| 565000 | BB- | Melco Resorts Finance Ltd., Senior Unsecured Notes, 5.375% due 12/4/29(a)(b) | 548044 |
| 802000 | B | Station Casinos LLC, Company Guaranteed Notes, 6.625% due 3/15/32(a)(b) | 821903 |
|  |  | Travel + Leisure Co., Senior Secured Notes: |  |
| 500000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 12/1/29(a) | 488169 |
| 415000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125% due 9/1/33(a) | 421841 |
|  |  | Total Lodging | 3170898 |
| **Media - 5.4%** | **Media - 5.4%** | **Media - 5.4%** | **Media - 5.4%** |
| 345000 | BB+ | Belo Corp., Company Guaranteed Notes, 7.750% due 6/1/27 | 359960 |
| 834000 | B | Cable One Inc., Company Guaranteed Notes, 4.000% due 11/15/30(a)(b) | 664166 |
|  |  | CCO Holdings LLC/CCO Holdings Capital Corp., Senior Unsecured Notes: |  |
| 509000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% due 9/1/29(a) | 517124 |
| 680000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 5/1/32 | 613233 |
| 290000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 1/15/34(a)(b) | 246009 |
|  |  | CSC Holdings LLC, Company Guaranteed Notes: |  |
| 890000 | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 2/1/29(a) | 559718 |
| 415000 | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 12/1/30(a) | 237111 |
| 200000 | CCC+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 11/15/31(a) | 113288 |
|  |  | Paramount Global, Company Guaranteed Notes: |  |
| 619000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% (3-Month USD-LIBOR + 3.899%) due 2/28/57(c) | 603154 |
| 222000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375% (5-Year CMT Index + 3.999%) due 3/30/62(c) | 217766 |
|  |  | Sirius XM Radio LLC, Company Guaranteed Notes: |  |
| 560000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 7/15/28(a) | 546360 |
| 401000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 9/1/31(a) | 366013 |
| 727000 | BB- | Sunrise FinCo I BV, Senior Secured Notes, 4.875% due 7/15/31(a) | 695350 |
| 130000 | BB+ | TEGNA Inc., Company Guaranteed Notes, 4.625% due 3/15/28(a) | 128917 |
|  |  | Univision Communications Inc., Senior Secured Notes: |  |
| 112000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375% due 6/30/30(a) | 113719 |
| 715000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500% due 7/31/31(a) | 740200 |
| 505000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.375% due 8/1/32(a) | 536523 |
| 817000 | B- | Virgin Media Finance PLC, Company Guaranteed Notes, 5.000% due 7/15/30(a)(b) | 723885 |
|  |  | Total Media | 7982496 |
| **Mining - 1.5%** | **Mining - 1.5%** | **Mining - 1.5%** | **Mining - 1.5%** |
| 470000 | BB- | Capstone Copper Corp., Company Guaranteed Notes, 6.750% due 3/31/33(a) | 487915 |
| 650000 | BB+ | Fortescue Treasury Pty Ltd., Company Guaranteed Notes, 4.375% due 4/1/31(a) | 627588 |
| 482000 | B+ | Hudbay Minerals Inc., Company Guaranteed Notes, 6.125% due 4/1/29(a) | 488638 |
| 534000 | BB | Novelis Corp., Company Guaranteed Notes, 6.375% due 8/15/33(a) | 539369 |
|  |  | Total Mining | 2143510 |
| **Miscellaneous Manufacturers - 0.2%** | **Miscellaneous Manufacturers - 0.2%** | **Miscellaneous Manufacturers - 0.2%** | **Miscellaneous Manufacturers - 0.2%** |
| 12101 | WD(g) | Anagram Holdings LLC/Anagram International Inc., Secured Notes,<br>10.000% due 8/15/26\*(a)(h)# |  |
| 320000 | BB- | Entegris Inc., Company Guaranteed Notes,<br>5.950% due 6/15/30(a) | 327914 |
|  |  | Total Miscellaneous Manufacturers | 327914 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Oil & Gas - 6.4%** | **Oil & Gas - 6.4%** | **Oil & Gas - 6.4%** | **Oil & Gas - 6.4%** |
| $668000 | BB- | Baytex Energy Corp., Company Guaranteed Notes, 7.375% due 3/15/32(a)(b) | $679113 |
|  |  | Civitas Resources Inc., Company Guaranteed Notes: |  |
| 397000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625% due 11/1/30(a) | 416169 |
| 285000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.625% due 6/15/33(a) | 307604 |
|  |  | Comstock Resources Inc., Company Guaranteed Notes: |  |
| 505000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 3/1/29(a) | 506920 |
| 170000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 1/15/30(a) | 165305 |
|  |  | Crescent Energy Finance LLC, Company Guaranteed Notes: |  |
| 387000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625% due 4/1/32(a) | 377105 |
| 74000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375% due 1/15/33(a) | 70181 |
| 390000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375% due 1/15/34(a) | 384907 |
| 334000 | BB- | DBR Land Holdings LLC, Company Guaranteed Notes, 6.250% due 12/1/30(a) | 338487 |
|  |  | Hilcorp Energy I LP/Hilcorp Finance Co., Senior Unsecured Notes: |  |
| 342000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 2/1/29(a) | 336138 |
| 50000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 2/1/31(a) | 47228 |
| 590000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 4/15/32(a) | 555649 |
| 150000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375% due 11/1/33(a) | 153894 |
| 175000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 2/15/35(a) | 166610 |
| 490000 | B+ | Northern Oil & Gas Inc., Senior Unsecured Notes, 7.875% due 10/15/33(a) | 477272 |
| 874000 | BB- | Strathcona Resources Ltd., Senior Unsecured Notes, 6.875% due 8/1/26(a) | 878005 |
|  |  | Sunoco LP, Company Guaranteed Notes: |  |
| 95000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 3/15/31(a) | 95600 |
| 255000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 5/1/32(a) | 269309 |
| 465000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 3/15/34(a) | 468312 |
| 629000 | B+ | Talos Production Inc., Secured Notes, 9.375% due 2/1/31(a)(b) | 663253 |
| 741000 | BB | Valaris Ltd., Secured Notes, 8.375% due 4/30/30(a) | 773573 |
| 810000 | B | Vital Energy Inc., Company Guaranteed Notes, 7.875% due 4/15/32(a) | 785593 |
| 582000 | B+ | Wildfire Intermediate Holdings LLC, Senior Unsecured Notes, 7.500% due 10/15/29(a) | 588962 |
|  |  | Total Oil & Gas | 9505189 |
| **Oil & Gas Services - 1.6%** | **Oil & Gas Services - 1.6%** | **Oil & Gas Services - 1.6%** | **Oil & Gas Services - 1.6%** |
|  |  | Archrock Partners LP/Archrock Partners Finance Corp., Company Guaranteed Notes: |  |
| 278000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 4/1/28(a) | 280638 |
| 375000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 9/1/32(a) | 386456 |
|  |  | Kodiak Gas Services LLC, Company Guaranteed Notes: |  |
| 635000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 2/15/29(a) | 662545 |
| 142000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 10/1/33(a) | 144946 |
| 148000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 10/1/35(a) | 152166 |
|  |  | WBI Operating LLC: |  |
| 405000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 6.250% due 10/15/30(a) | 405474 |
| 285000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Unsecured Notes, 6.500% due 10/15/33(a) | 285080 |
|  |  | Total Oil & Gas Services | 2317305 |
| **Packaging & Containers - 2.9%** | **Packaging & Containers - 2.9%** | **Packaging & Containers - 2.9%** | **Packaging & Containers - 2.9%** |
|  |  | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Senior Secured Notes: |  |
| 210000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 6/15/27(a) | 210000 |
| 875000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 9/1/28(a)(b) | 843078 |
| 400000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 1/30/31(a) | 407205 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Packaging & Containers - 2.9% - (continued)** | **Packaging & Containers - 2.9% - (continued)** | **Packaging & Containers - 2.9% - (continued)** | **Packaging & Containers - 2.9% - (continued)** |
|  |  | Clydesdale Acquisition Holdings Inc.: |  |
| $708000 | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 8.750% due 4/15/30(a)(b) | $709720 |
| 105000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 6.750% due 4/15/32(a) | 106035 |
|  |  | Crown Americas LLC, Company Guaranteed Notes: |  |
| 474000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 4/1/30 | 484355 |
| 195000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875% due 6/1/33(a) | 199803 |
| 728000 | CCC | Iris Holding Inc., Senior Unsecured Notes, 10.000% due 12/15/28(a) | 646904 |
| 244000 | B | Mauser Packaging Solutions Holding Co., Senior Secured Notes, 7.875% due 8/15/26(a) | 244043 |
| 417000 | BB- | Silgan Holdings Inc., Company Guaranteed Notes, 4.125% due 2/1/28 | 412918 |
|  |  | Total Packaging & Containers | 4264061 |
| **Pharmaceuticals - 2.3%** | **Pharmaceuticals - 2.3%** | **Pharmaceuticals - 2.3%** | **Pharmaceuticals - 2.3%** |
|  |  | HLF Financing Sarl LLC/Herbalife International Inc.: |  |
| 975000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 4.875% due 6/1/29(a) | 916191 |
| 685000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 12.250% due 4/15/29(a) | 741471 |
| 1004000 | BB- | Organon & Co./Organon Foreign Debt Co.-Issuer BV, Senior Unsecured Notes,<br>5.125% due 4/30/31(a)(b) | 841568 |
| 230000 | D | Par Pharmaceutical Inc., Senior Secured Notes, 7.500% due 4/1/27\*(a)# |  |
|  |  | Teva Pharmaceutical Finance Netherlands III BV, Company Guaranteed Notes: |  |
| 270000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125% due 9/15/31 | 310973 |
| 325000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 12/1/32 | 341458 |
| 200000 | BB | Teva Pharmaceutical Finance Netherlands IV BV, Company Guaranteed Notes,<br>5.750% due 12/1/30 | 207730 |
|  |  | Total Pharmaceuticals | 3359391 |
| **Pipelines - 6.6%** | **Pipelines - 6.6%** | **Pipelines - 6.6%** | **Pipelines - 6.6%** |
| 405000 | BB+ | Antero Midstream Partners LP/Antero Midstream Finance Corp., Company Guaranteed Notes, 5.750% due 1/15/28(a) | 405758 |
|  |  | Delek Logistics Partners LP/Delek Logistics Finance Corp., Company Guaranteed Notes: |  |
| 455000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625% due 3/15/29(a) | 477243 |
| 535000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375% due 6/30/33(a) | 548527 |
| 655000 | BB+ | Excelerate Energy LP, Company Guaranteed Notes, 8.000% due 5/15/30(a) | 698320 |
|  |  | Genesis Energy LP/Genesis Energy Finance Corp., Company Guaranteed Notes: |  |
| 349000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250% due 1/15/29 | 364781 |
| 510000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875% due 4/15/30 | 539153 |
| 85000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875% due 5/15/32 | 87749 |
| 110000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000% due 5/15/33 | 113570 |
|  |  | Harvest Midstream I LP, Senior Unsecured Notes: |  |
| 770000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500% due 9/1/28(a) | 781486 |
| 510000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500% due 5/15/32(a) | 530348 |
|  |  | Howard Midstream Energy Partners LLC, Senior Unsecured Notes: |  |
| 775000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375% due 7/15/32(a) | 818623 |
| 35000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 1/15/34(a) | 35904 |
| 1200000 | B- | ITT Holdings LLC, Senior Unsecured Notes, 6.500% due 8/1/29(a) | 1164069 |
|  |  | NGL Energy Operating LLC/NGL Energy Finance Corp., Senior Secured Notes: |  |
| 392000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125% due 2/15/29(a) | 403559 |
| 459000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375% due 2/15/32(a) | 476229 |
| 238000 | Ba1(e) | NuStar Logistics LP, Company Guaranteed Notes, 6.375% due 10/1/30 | 249507 |
| 1263000 | BB | Venture Global LNG Inc., Senior Secured Notes, 8.375% due 6/1/31(a)(b) | 1266966 |
|  |  | Venture Global Plaquemines LNG LLC, Senior Secured Notes: |  |
| 97000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500% due 5/1/33(a) | 105761 |
| 558000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 5/1/35(a) | 622049 |
|  |  | Total Pipelines | 9689602 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Real Estate - 1.4%** | **Real Estate - 1.4%** | **Real Estate - 1.4%** | **Real Estate - 1.4%** |
|  |  | Cushman & Wakefield U.S. Borrower LLC, Senior Secured Notes: |  |
| $338000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% due 5/15/28(a) | $341982 |
| 380000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875% due 9/1/31(a) | 407744 |
| 495000 | BB | Greystar Real Estate Partners LLC, Senior Secured Notes, 7.750% due 9/1/30(a) | 525810 |
| 788000 | B | Kennedy-Wilson Inc., Company Guaranteed Notes, 4.750% due 3/1/29 | 764272 |
|  |  | Total Real Estate | 2039808 |
| **Real Estate Investment Trusts (REITs) - 3.0%** | **Real Estate Investment Trusts (REITs) - 3.0%** | **Real Estate Investment Trusts (REITs) - 3.0%** | **Real Estate Investment Trusts (REITs) - 3.0%** |
| 803000 | B+ | Apollo Commercial Real Estate Finance Inc., Senior Secured Notes, 4.625% due 6/15/29(a)(b) | 780792 |
| 890000 | Ba3(e) | Arbor Realty SR Inc., Senior Unsecured Notes, 7.875% due 7/15/30(a) | 894222 |
| 646000 | B+ | Blackstone Mortgage Trust Inc., Senior Secured Notes, 7.750% due 12/1/29(a) | 678414 |
|  |  | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., Company Guaranteed Notes: |  |
| 158000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 2/1/27(a) | 156617 |
| 110000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 6/15/29(a) | 108519 |
| 447000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 7/15/31(a)(b) | 474214 |
|  |  | Service Properties Trust: |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes: |  |
| 180000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375% due 6/15/29 | 176973 |
| 478000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875% due 6/15/32 | 460810 |
| 29000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, zero coupon due 9/30/27(a) | 25874 |
|  |  | Starwood Property Trust Inc., Senior Unsecured Notes: |  |
| 130000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250% due 4/1/29(a) | 137935 |
| 530000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 7/1/30(a) | 555069 |
|  |  | Total Real Estate Investment Trusts (REITs) | 4449439 |
| **Retail - 3.7%** | **Retail - 3.7%** | **Retail - 3.7%** | **Retail - 3.7%** |
| 455000 | BB+ | Brinker International Inc., Company Guaranteed Notes, 8.250% due 7/15/30(a) | 483030 |
|  |  | FirstCash Inc., Company Guaranteed Notes: |  |
| 432000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 9/1/28(a) | 428084 |
| 187000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625% due 1/1/30(a) | 188320 |
| 77000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% due 3/1/32(a) | 80160 |
| 893000 | BB- | Kohl's Corp., Senior Unsecured Notes, 5.125% due 5/1/31 | 771425 |
|  |  | LBM Acquisition LLC: |  |
| 686000 | CCC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 6.250% due 1/15/29(a)(b) | 614179 |
| 375000 | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 9.500% due 6/15/31(a) | 386989 |
|  |  | Murphy Oil USA Inc., Company Guaranteed Notes: |  |
| 725000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 9/15/29 | 719978 |
| 110000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750% due 2/15/31(a) | 103281 |
|  |  | Park River Holdings Inc.: |  |
| 283329 | Caa2(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secured Notes, 8.750% due 12/31/30(a) | 275537 |
| 434000 | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 8.000% due 3/15/31(a) | 448711 |
|  |  | PetSmart LLC/PetSmart Finance Corp.: |  |
| 450000 | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Company Guaranteed Notes, 10.000% due 9/15/33(a) | 461259 |
| 250000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 7.500% due 9/15/32(a) | 252540 |
| 257000 | BB- | QXO Building Products Inc., Senior Secured Notes, 6.750% due 4/30/32(a) | 269032 |
|  |  | Total Retail | 5482525 |
| **Semiconductors - 0.3%** | **Semiconductors - 0.3%** | **Semiconductors - 0.3%** | **Semiconductors - 0.3%** |
| 420000 | BB | Amkor Technology Inc., Company Guaranteed Notes, 5.875% due 10/1/33(a) | 428093 |
| **Software - 1.9%** | **Software - 1.9%** | **Software - 1.9%** | **Software - 1.9%** |
| 635000 | B- | Capstone Borrower Inc., Senior Secured Notes, 8.000% due 6/15/30(a) | 648066 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** | **CORPORATE BONDS & NOTES - 93.1% - (continued)** |
| **Software - 1.9% - (continued)** | **Software - 1.9% - (continued)** | **Software - 1.9% - (continued)** | **Software - 1.9% - (continued)** |
|  |  | Cloud Software Group Inc.: |  |
| $140000 | B- | &nbsp;&nbsp;&nbsp;&nbsp; Secured Notes, 9.000% due 9/30/29(a) | $144559 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes: |  |
| 355000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 3/31/29(a) | 358169 |
| 370000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250% due 6/30/32(a) | 390427 |
| 365000 | B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 8/15/33(a) | 364704 |
|  |  | Open Text Corp., Company Guaranteed Notes: |  |
| 20000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 2/15/28(a) | 19524 |
| 260000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 12/1/29(a) | 246837 |
| 240000 | BB | Open Text Holdings Inc., Company Guaranteed Notes, 4.125% due 12/1/31(a) | 223410 |
| 1116480 | B- | Rackspace Finance LLC, Senior Secured Notes, 3.500% due 5/15/28(a) | 457016 |
|  |  | Total Software | 2852712 |
| **Telecommunications - 5.3%** | **Telecommunications - 5.3%** | **Telecommunications - 5.3%** | **Telecommunications - 5.3%** |
| 2050000 | CCC+ | Altice Financing SA, Senior Secured Notes, 5.000% due 1/15/28(a)(b) | 1372219 |
|  |  | Bell Telephone Co. of Canada or Bell Canada, Company Guaranteed Notes: |  |
| 438000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875% (5-Year CMT Index + 2.390%) due 9/15/55(c) | 455078 |
| 330000 | BB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% (5-Year CMT Index + 2.363%) due 9/15/55(c) | 347454 |
| 610000 | B+ | C&W Senior Finance Ltd., Company Guaranteed Notes, 9.000% due 1/15/33(a)(b) | 634606 |
| 2000 | B- | CommScope LLC, Senior Secured Notes, 4.750% due 9/1/29(a) | 2001 |
| 460000 | B | Connect Finco Sarl/Connect U.S. Finco LLC, Senior Secured Notes, 9.000% due 9/15/29(a) | 489095 |
|  |  | Iliad Holding SAS, Senior Secured Notes: |  |
| 133000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 10/15/28(a) | 135028 |
| 200000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500% due 4/15/31(a) | 214996 |
| 985000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% due 4/15/32(a) | 1016603 |
|  |  | Rogers Communications Inc., Subordinated Notes: |  |
| 286000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000% (5-Year CMT Index + 2.653%) due 4/15/55(c) | 297577 |
| 404000 | BB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125% (5-Year CMT Index + 2.620%) due 4/15/55(c) | 427850 |
| 535000 | BB- | Sable International Finance Ltd., Senior Secured Notes, 7.125% due 10/15/32(a) | 540795 |
| 564000 | CCC+ | Viasat Inc., Senior Unsecured Notes, 7.500% due 5/30/31(a) | 535413 |
|  |  | Vmed O2 UK Financing I PLC, Senior Secured Notes: |  |
| 260000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 7/15/31(a) | 240155 |
| 270000 | B+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750% due 4/15/32(a) | 281953 |
|  |  | Zayo Group Holdings Inc., Senior Secured Notes: |  |
| 129502 | B- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250% (5.750% cash and 0.500% PIK until 3/30/27 then 7.750% until 3/30/28) due 3/9/30(a)(f) | 119452 |
| 755436 | CCC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.750% (7.125% cash and 1.875% PIK until 3/30/27 then 5.375% until 3/30/28) due 9/9/30(a)(f) | 673097 |
|  |  | Total Telecommunications | 7783372 |
| **Transportation - 0.9%** | **Transportation - 0.9%** | **Transportation - 0.9%** | **Transportation - 0.9%** |
| 670000 | B2(e) | Star Leasing Co. LLC, Secured Notes, 7.625% due 2/15/30(a) | 640671 |
| 663000 | BB | Stonepeak Nile Parent LLC, Senior Secured Notes, 7.250% due 3/15/32(a) | 701217 |
|  |  | Total Transportation | 1341888 |
|  |  | **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $135,641,137) | **137144351** |
| **SENIOR LOANS - 0.3%** | **SENIOR LOANS - 0.3%** | **SENIOR LOANS - 0.3%** | **SENIOR LOANS - 0.3%** |
| **Media - 0.1%** | **Media - 0.1%** | **Media - 0.1%** | **Media - 0.1%** |
| 113397 | NR | Gannett Holdings LLC, 8.875% (3-Month CME Term SOFR + 5.000%) due 10/15/29 | 112617 |
| **Mining - 0.2%** | **Mining - 0.2%** | **Mining - 0.2%** | **Mining - 0.2%** |
| 369923 | NR | Arctic Canadian Diamond Company Ltd., 10.000%<br>(4-Month USD-LIBOR + 10.000%) due 12/31/27(k) | 350498 |
|  |  | **TOTAL SENIOR LOANS**<br> (Cost - $468,409) | **463115** |
|  |  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $136,109,546) | **137607466** |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**High Yield Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **SHORT-TERM INVESTMENTS (i) - 17.5%** | **SHORT-TERM INVESTMENTS (i) - 17.5%** | **SHORT-TERM INVESTMENTS (i) - 17.5%** |
| **MONEY MARKET FUND - 12.0%** | **MONEY MARKET FUND - 12.0%** | **MONEY MARKET FUND - 12.0%** |
| $17635401 | Invesco STIT - Government & Agency Portfolio, Institutional Class, 4.027%(j)<br> (Cost - $17,635,401) | $**17635401** |
| **TIME DEPOSITS - 5.5%** | **TIME DEPOSITS - 5.5%** | **TIME DEPOSITS - 5.5%** |
| 2321531 | Citibank - New York, 3.220% due 12/1/25 | 2321531 |
| 3423262 | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25 | 3423262 |
| 2263242 | Royal Bank of Canada - Toronto, 3.220% due 12/1/25 | 2263242 |
| 154375 | Sumitomo Mitsui Banking Corp. - Tokyo, 3.220% due 12/1/25 | 154375 |
|  | **TOTAL TIME DEPOSITS**<br> (Cost - $8,162,410) | **8162410** |
|  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $25,797,811) | **25797811** |
|  | **TOTAL INVESTMENTS - 110.9%**<br> (Cost - $161,907,357) | **163405277** |
|  | Liabilities in Excess of Other Assets - (10.9)% | (16002045) |
|  | **TOTAL NET ASSETS - 100.0%** | $**147403232** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

†† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.

\* Non-income producing security.

(a) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30,
2025, amounts to $122,372,726 and represents 83.0% of net assets.

(b) All or a portion of this security is on loan (See Note 1).

(c) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2025.

(d) Security is perpetual in nature and has no stated maturity date.

(e) Rating by Moody's Investors Service.

(f) Payment in-kind security for which part of the income earned may be
paid as additional principal.

(g) Rating by Fitch Ratings Service.

(h) Security is currently in default.

(i) Inclusive of all short-term holdings, including investments of collateral received from securities lending
transactions. Excluding such collateral, the percentage of portfolio holdings would be 5.5%.

(j) Represents investments of collateral received from securities lending transactions.

(k) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

# Security that used significant unobservable inputs to determine fair value. At November 30, 2025, the Fund held Level 3 securities with a total value of $0, representing 0.0% of net assets. 

At November 30, 2025, for High Yield Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net<br>Unrealized<br>Appreciation** |
|  High Yield Fund | $161907357 | $3719740 | $(2221820) | $1497920 |

---

**<u>Abbreviations used in this schedule</u>:** 

---

| | |
|:---|:---|
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury Rate |
| DAC | Designated Activity Company |
| LIBOR | London Interbank Offered Rate |
| LLC | Limited Liability Company |
| PLC | Public Limited Company |
| SOFR | Secured Overnight Financing Rate |

---

---

| | | |
|:---|:---|:---|
| **Summary of Investments by Security Type^** | | |
|  Corporate Bonds & Notes | 94.1 | % |
|  Senior Loans | 0.3 |  |
|  Short-Term Investments | 5.6 |  |
|  Total Investments | 100.0 | %+ |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

+ Does not reflect investments of collateral received from securities lending transactions.

**<u>Currency abbreviation used in this schedule</u>:** 

USD — United States Dollar

**See pages 268-270 for definitions of ratings.** 

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face <br>Amount/Units†** | **Security** | **Value** |
| **SOVEREIGN BONDS - 42.6%** | **SOVEREIGN BONDS - 42.6%** | **SOVEREIGN BONDS - 42.6%** |
| **Australia - 1.5%** | **Australia - 1.5%** | **Australia - 1.5%** |
|  | Australia Government Bonds: |  |
| 100000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 5/21/30 | $61498 |
| 50000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 6/21/51 | 17121 |
|  | New South Wales Treasury Corp.: |  |
| 1000000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 3/8/33 | 543776 |
| 1200000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 3/20/34 | 615659 |
|  | Queensland Treasury Corp.: |  |
| 600000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 8/22/33 | 320271 |
| 200000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 7/20/34(a) | 101025 |
| 300000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 7/21/36(a) | 196252 |
|  | Treasury Corp. of Victoria: |  |
| 400000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 12/20/32 | 254203 |
| 1000000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 9/15/33 | 542814 |
| 400000 <sup>AUD</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 9/17/35 | 197962 |
|  | Total Australia | 2850581 |
| **Brazil - 1.9%** | **Brazil - 1.9%** | **Brazil - 1.9%** |
| 20000000 <sup>BRL</sup> | Brazil Letras do Tesouro Nacional, zero coupon due 4/1/26 | 3582980 |
| **Bulgaria - 0.4%** | **Bulgaria - 0.4%** | **Bulgaria - 0.4%** |
|  | Bulgaria Government International Bonds: |  |
| 400000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 7/18/35 | 461036 |
| 200000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 7/18/45 | 227624 |
|  | Total Bulgaria | 688660 |
| **Canada - 1.0%** | **Canada - 1.0%** | **Canada - 1.0%** |
| 2100000 <sup>CAD</sup> | Canadian Government Bonds, 3.000% due 6/1/34 | 1493789 |
| 27900000 <sup>INR</sup> | Export Development Canada, 7.130% due 3/11/29(a) | 316631 |
|  | Total Canada | 1810420 |
| **Chile - 0.1%** | **Chile - 0.1%** | **Chile - 0.1%** |
| $200000 | Chile Government International Bonds, 4.850% due 1/22/29 | 204410 |
| **China - 4.1%** | **China - 4.1%** | **China - 4.1%** |
|  | China Development Bank: |  |
| 7600000 <sup>CNY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.820% due 5/22/33 | 1139933 |
| 11720000 <sup>CNY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.630% due 1/8/34 | 1740056 |
|  | China Government Bonds: |  |
| 14900000 <sup>CNY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.650% due 5/15/35 | 2074696 |
| 4090000 <sup>CNY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.190% due 4/15/53 | 690455 |
| 12700000 <sup>CNY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.190% due 9/25/54 | 1780832 |
| 2300000 <sup>CNY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.920% due 1/15/55 | 306144 |
|  | Total China | 7732116 |
| **France - 3.7%** | **France - 3.7%** | **France - 3.7%** |
| 6000000 <sup>EUR</sup> | French Republic Government Bonds OAT, 2.750% due 2/25/30(a) | 7005913 |
| **Israel - 1.0%** | **Israel - 1.0%** | **Israel - 1.0%** |
|  | Israel Government International Bonds: |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 3/12/29 | 309339 |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 2/19/30 | 932154 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 3/12/34 | 312220 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face <br>Amount/Units†** | **Security** | **Value** |
| **SOVEREIGN BONDS - 42.6% - (continued)** | **SOVEREIGN BONDS - 42.6% - (continued)** | **SOVEREIGN BONDS - 42.6% - (continued)** |
| **Israel - 1.0% - (continued)** | **Israel - 1.0% - (continued)** | **Israel - 1.0% - (continued)** |
| $300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750% due 3/12/54 | $293223 |
|  | Total Israel | 1846936 |
| **Italy - 0.3%** | **Italy - 0.3%** | **Italy - 0.3%** |
| 400000 <sup>GBP</sup> | Republic of Italy Government International Bonds, 6.000% due 8/4/28 | 550369 |
| **Japan - 7.4%** | **Japan - 7.4%** | **Japan - 7.4%** |
| 50000000 <sup>JPY</sup> | Japan Government Five Year Bonds, 0.400% due 6/20/29 | 311622 |
| 120000000 <sup>JPY</sup> | Japan Government Forty Year Bonds, 2.200% due 3/20/64 | 556057 |
|  | Japan Government Thirty Year Bonds: |  |
| 210000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.700% due 9/20/44 | 1142123 |
| 280000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.400% due 9/20/45 | 1413160 |
| 152000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.500% due 9/20/46 | 613634 |
| 98000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700% due 12/20/48 | 386607 |
| 38700000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.500% due 3/20/49 | 143343 |
| 60000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700% due 12/20/50 | 220122 |
| 60000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700% due 3/20/51 | 217862 |
| 125000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700% due 6/20/51 | 450156 |
| 180000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700% due 12/20/51 | 637850 |
| 69400000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.800% due 3/20/54 | 321525 |
| 202000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.200% due 6/20/54 | 1028674 |
| 30000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200% due 9/20/55 | 188262 |
|  | Japan Government Twenty Year Bonds: |  |
| 131000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.200% due 9/20/35 | 793880 |
| 200000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 12/20/35 | 1184346 |
| 20000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.400% due 3/20/36 | 110718 |
| 100000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.400% due 6/20/40 | 487376 |
| 130000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.800% due 9/20/44 | 718504 |
| 180000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 12/20/44 | 1024765 |
| 74000000 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.400% due 3/20/45 | 447719 |
|  | Japanese Government CPI Linked Bonds: |  |
| 166215840 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100% due 3/10/28 | 1080371 |
| 52776770 <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100% due 3/10/29 | 343542 |
|  | Total Japan | 13822218 |
| **Kuwait - 0.5%** | **Kuwait - 0.5%** | **Kuwait - 0.5%** |
|  | Kuwait International Government Bonds: |  |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.016% due 10/9/28(a) | 400313 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.136% due 10/9/30(a) | 200283 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.652% due 10/9/35(a) | 301048 |
|  | Total Kuwait | 901644 |
| **Luxembourg - 0.5%** | **Luxembourg - 0.5%** | **Luxembourg - 0.5%** |
| 1000000 | Eagle Funding Luxco Sarl, 5.500% due 8/17/30(a) | 1016440 |
| **Malaysia - 1.9%** | **Malaysia - 1.9%** | **Malaysia - 1.9%** |
|  | Malaysia Government Bonds: |  |
| 12523000 <sup>MYR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.519% due 4/20/28 | 3065171 |
| 900000 <sup>MYR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.632% due 4/15/31 | 210278 |
| 160000 <sup>MYR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.582% due 7/15/32 | 39023 |
| 860000 <sup>MYR</sup> | Malaysia Government Investment Issues, 4.193% due 10/7/32 | 217714 |
|  | Total Malaysia | 3532186 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face <br>Amount/Units†** | | **Security** | **Value** |
| **SOVEREIGN BONDS - 42.6% - (continued)** | **SOVEREIGN BONDS - 42.6% - (continued)** | **SOVEREIGN BONDS - 42.6% - (continued)** | **SOVEREIGN BONDS - 42.6% - (continued)** |
| **Peru - 1.1%** | **Peru - 1.1%** | **Peru - 1.1%** | **Peru - 1.1%** |
|  |  | Peru Government Bonds: |  |
| 1300000 | <sup>PEN</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.300% due 8/12/33(a) | $437640 |
| 700000 | <sup>PEN</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.850% due 8/12/35(a) | 222458 |
| 900000 | <sup>PEN</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.600% due 8/12/39(a) | 295245 |
|  |  | Peruvian Government International Bonds: |  |
| 2321000 | <sup>PEN</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950% due 8/12/31 | 765256 |
| 1400000 | <sup>PEN</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.400% due 8/12/34 | 410741 |
|  |  | Total Peru | 2131340 |
| **Poland - 0.3%** | **Poland - 0.3%** | **Poland - 0.3%** | **Poland - 0.3%** |
|  |  | Poland Government International Bonds: |  |
| $200000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 3/18/29 | 204794 |
| 100000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 2/12/30 | 103341 |
| 100000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 9/18/34 | 103050 |
| 100000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 2/12/35 | 104643 |
|  |  | Total Poland | 515828 |
| **Romania - 0.7%** | **Romania - 0.7%** | **Romania - 0.7%** | **Romania - 0.7%** |
|  |  | Romanian Government International Bonds: |  |
| 600000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625% due 9/27/29 | 763275 |
| 200000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 7/13/30(a) | 209065 |
| 100000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 4/14/33(a) | 94767 |
| 200000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 4/13/42(a) | 155354 |
| 30000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 10/7/45 | 34664 |
|  |  | Total Romania | 1257125 |
| **Saudi Arabia - 0.9%** | **Saudi Arabia - 0.9%** | **Saudi Arabia - 0.9%** | **Saudi Arabia - 0.9%** |
|  |  | Saudi Government International Bonds: |  |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 1/13/28(a) | 408940 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750% due 1/18/28(a) | 405711 |
| 500000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 3/5/32(a) | 584852 |
| 200000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 7/18/33(a) | 204314 |
|  |  | Total Saudi Arabia | 1603817 |
| **Serbia - 0.1%** | **Serbia - 0.1%** | **Serbia - 0.1%** | **Serbia - 0.1%** |
|  |  | Serbia International Bonds: |  |
| 100000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 9/23/28(a) | 108754 |
| 100000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.650% due 3/3/33(a) | 97683 |
|  |  | Total Serbia | 206437 |
| **Singapore - 0.4%** | **Singapore - 0.4%** | **Singapore - 0.4%** | **Singapore - 0.4%** |
| 769000 | <sup>SGD</sup> | Singapore Government Bonds, 3.250% due 6/1/54 | 728737 |
| **South Africa - 1.6%** | **South Africa - 1.6%** | **South Africa - 1.6%** | **South Africa - 1.6%** |
|  |  | South Africa Government Bonds: |  |
| 8800000 | <sup>ZAR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000% due 1/31/30 | 522944 |
| 38400000 | <sup>ZAR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875% due 2/28/35 | 2302641 |
| 1600000 | <sup>ZAR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 3/31/36 | 77923 |
| 2300000 | <sup>ZAR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000% due 1/31/40 | 131820 |
|  |  | Total South Africa | 3035328 |
| **South Korea - 0.2%** | **South Korea - 0.2%** | **South Korea - 0.2%** | **South Korea - 0.2%** |
| 400000 |  | Korea National Oil Corp., 4.250% due 9/30/29(a) | 403122 |
| **Spain - 7.2%** | **Spain - 7.2%** | **Spain - 7.2%** | **Spain - 7.2%** |
| 100000 | <sup>EUR</sup> | Autonomous Community of Catalonia, 4.220% due 4/26/35 | 119949 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face <br>Amount/Units†** | **Security** | **Value** |
| **SOVEREIGN BONDS - 42.6% - (continued)** | **SOVEREIGN BONDS - 42.6% - (continued)** | **SOVEREIGN BONDS - 42.6% - (continued)** |
| **Spain - 7.2% - (continued)** | **Spain - 7.2% - (continued)** | **Spain - 7.2% - (continued)** |
|  | Spain Government Bonds: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 5/31/27 | $700044 |
| 400000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.450% due 10/31/27(a) | 458679 |
| 2200000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.400% due 5/31/28 | 2564245 |
| 5180000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450% due 10/31/34(a) | 6188632 |
| 2560000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150% due 4/30/35(a) | 2977160 |
| 500000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.900% due 10/31/52(a) | 386102 |
| 100000 <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 10/31/54(a) | 115811 |
|  | Total Spain | 13510622 |
| **Supranational - 0.6%** | **Supranational - 0.6%** | **Supranational - 0.6%** |
| 1000000 <sup>EUR</sup> | European Union, 3.750% due 10/12/45 | 1155798 |
| **United Kingdom - 5.2%** | **United Kingdom - 5.2%** | **United Kingdom - 5.2%** |
|  | United Kingdom Gilts: |  |
| 4200000 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 3/7/30(i) | 5661824 |
| 1350000 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 1/22/44 | 1402233 |
| 700000 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 1/22/45 | 746722 |
| 500000 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 1/22/49 | 359214 |
| 1400000 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625% due 10/22/50 | 687572 |
| 1300000 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.250% due 7/31/51 | 763998 |
| 500000 <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125% due 10/22/73 | 213109 |
|  | Total United Kingdom | 9834672 |
|  | **TOTAL SOVEREIGN BONDS**<br> (Cost - $88,121,163) | **79927699** |
| **MORTGAGE-BACKED SECURITIES - 33.0%** | **MORTGAGE-BACKED SECURITIES - 33.0%** | **MORTGAGE-BACKED SECURITIES - 33.0%** |
| **FHLMC - 5.0%** | **FHLMC - 5.0%** | **FHLMC - 5.0%** |
|  | Federal Home Loan Mortgage Corp. (FHLMC): |  |
| $23499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 10/1/39 | 22701 |
| 345011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 12/1/51 | 293911 |
| 79363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 3/1/52 | 64850 |
| 1117203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 9/1/52 - 10/1/52 | 1099031 |
| 3809769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 1/1/53 - 11/1/53 | 3955163 |
| 2432979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 3/1/53 - 6/1/54 | 2441026 |
| 1489684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 12/1/53 - 9/1/54 | 1526617 |
|  | Total FHLMC | 9403299 |
| **FNMA - 20.8%** | **FNMA - 20.8%** | **FNMA - 20.8%** |
|  | Federal National Mortgage Association (FNMA): |  |
| 760081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 9/1/34 - 6/1/52 | 748257 |
| 275958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 10/1/34 - 6/1/50 | 261299 |
| 8022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.469% (1-Year CMT Index + 2.360%) due 11/1/34(b) | 8337 |
| 5431987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 8/1/37 - 8/1/54 | 5633658 |
| 379468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 10/1/49 - 5/1/51 | 337869 |
| 72731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 6/1/50 | 70101 |
| 390772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 3/1/52 | 320311 |
| 7192875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 4/1/53 - 7/1/54 | 7387405 |
| 1264197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 5/1/53 - 6/1/54 | 1264480 |
| 489380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 9/1/53 | 497234 |
| 344000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 1/1/55(c) | 327550 |
| 9700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 1/1/55(c) | 9673334 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face <br>Amount/Units†** | | **Security** | **Value** |
| **MORTGAGE-BACKED SECURITIES - 33.0% - (continued)** | **MORTGAGE-BACKED SECURITIES - 33.0% - (continued)** | **MORTGAGE-BACKED SECURITIES - 33.0% - (continued)** | **MORTGAGE-BACKED SECURITIES - 33.0% - (continued)** |
| **FNMA - 20.8% - (continued)** | **FNMA - 20.8% - (continued)** | **FNMA - 20.8% - (continued)** | **FNMA - 20.8% - (continued)** |
| $12000000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 1/1/55(c) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12438365 |
|  |  | Total FNMA | 38968200 |
| **GNMA - 7.2%** | **GNMA - 7.2%** | **GNMA - 7.2%** | **GNMA - 7.2%** |
|  |  | Government National Mortgage Association II (GNMA): |  |
| 545 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 9/20/38 | 557 |
| 4241485 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 11/20/51 - 6/20/52 | 3831669 |
| 6705360 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 12/20/52 - 2/20/55 | 6157347 |
| 1200000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 1/20/55(c) | 1082728 |
| 1800000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 1/20/55(c) | 1852803 |
| 700000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 12/20/55(c) | 607604 |
|  |  | Total GNMA | 13532708 |
|  |  | **TOTAL MORTGAGE-BACKED SECURITIES** |  |
|  |  | (Cost - $61,459,641) | **61904207** |
| **CORPORATE BONDS & NOTES - 11.9%** | **CORPORATE BONDS & NOTES - 11.9%** | **CORPORATE BONDS & NOTES - 11.9%** | **CORPORATE BONDS & NOTES - 11.9%** |
| **Australia - 1.0%** | **Australia - 1.0%** | **Australia - 1.0%** | **Australia - 1.0%** |
| 2800000 | <sup>AUD</sup> | Project Cashmere, Class A1, 4.543% due 12/30/57(a)(f)(l) | 1833300 |
| **Belgium - 0.1%** | **Belgium - 0.1%** | **Belgium - 0.1%** | **Belgium - 0.1%** |
| 200000 |  | KBC Group NV, Senior Unsecured Notes, 5.796% (1-Year CMT Index + 2.100%)<br>due 1/19/29(a)(b) | 206622 |
| **Canada - 1.3%** | **Canada - 1.3%** | **Canada - 1.3%** | **Canada - 1.3%** |
| 800000 |  | Canadian Imperial Bank of Commerce, Covered Notes, 4.876% due 1/14/30(a) | 833060 |
| 100000 | <sup>EUR</sup> | Fairfax Financial Holdings Ltd., Senior Unsecured Notes, 2.750% due 3/29/28 | 115631 |
|  |  | Royal Bank of Canada, Senior Unsecured Notes: |  |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.969% (SOFR + 1.100%) due 8/2/30(b) | 410718 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.696% (SOFR + 1.060%) due 8/6/31(b) | 406712 |
| 700000 |  | Toronto-Dominion Bank (The), Covered Notes, 4.814% due 7/16/27(a) | 712391 |
|  |  | Total Canada | 2478512 |
| **Cayman Islands - 0.3%** | **Cayman Islands - 0.3%** | **Cayman Islands - 0.3%** | **Cayman Islands - 0.3%** |
| 400000 |  | Foxconn Far East Ltd., Company Guaranteed Notes, 1.875% due 8/25/28 | 371215 |
| 200000 |  | Sands China Ltd., Senior Unsecured Notes, 5.400% due 8/8/28 | 203275 |
|  |  | Total Cayman Islands | 574490 |
| **Denmark - 0.0%@** | **Denmark - 0.0%@** | **Denmark - 0.0%@** | **Denmark - 0.0%@** |
|  |  | Jyske Realkredit AS, Covered Notes: |  |
| 31658 | <sup>DKK</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 10/1/50 | 3713 |
| 446941 | <sup>DKK</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 10/1/53 | 57366 |
|  |  | Nordea Kredit Realkreditaktieselskab, Covered Notes: |  |
| 15 | <sup>DKK</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 10/1/50 | 2 |
| 178227 | <sup>DKK</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 10/1/53 | 22977 |
|  |  | Total Denmark | 84058 |
| **France - 0.7%** | **France - 0.7%** | **France - 0.7%** | **France - 0.7%** |
| 400000 |  | BPCE SA, Senior Non-Preferred Notes, 6.612% (SOFR + 1.980%) due 10/19/27(a)(b) | 408094 |
| 800000 |  | Credit Agricole SA, Senior Non-Preferred Notes, 5.862% (SOFR + 1.740%) due 1/9/36(a)(b) | 848731 |
|  |  | Total France | 1256825 |
| **Germany - 0.2%** | **Germany - 0.2%** | **Germany - 0.2%** | **Germany - 0.2%** |
| 400000 |  | Deutsche Bank AG, Senior Non-Preferred Notes, 2.552% (SOFR + 1.318%) due 1/7/28(b) | 392503 |
| **Italy - 0.1%** | **Italy - 0.1%** | **Italy - 0.1%** | **Italy - 0.1%** |
| 100000 | <sup>EUR</sup> | Banca Monte dei Paschi di Siena SpA, Covered Notes, 0.875% due 10/8/26 | 114747 |
| **Japan - 0.5%** | **Japan - 0.5%** | **Japan - 0.5%** | **Japan - 0.5%** |
| 200000 |  | Nomura Holdings Inc., Senior Unsecured Notes, 2.329% due 1/22/27 | 196002 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face <br>Amount/Units†** | | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 11.9% - (continued)** | **CORPORATE BONDS & NOTES - 11.9% - (continued)** | **CORPORATE BONDS & NOTES - 11.9% - (continued)** | **CORPORATE BONDS & NOTES - 11.9% - (continued)** |
| **Japan - 0.5% - (continued)** | **Japan - 0.5% - (continued)** | **Japan - 0.5% - (continued)** | **Japan - 0.5% - (continued)** |
| $500000 |  | Sumitomo Mitsui Financial Group Inc., Senior Unsecured Notes, 5.246% (SOFR + 1.500%) due 7/8/36(b) | $516762 |
| 200000 |  | Sumitomo Mitsui Trust Bank Ltd., Senior Unsecured Notes, 5.200% due 3/7/29(a) | 206676 |
|  |  | Total Japan | 919440 |
| **Qatar - 0.1%** | **Qatar - 0.1%** | **Qatar - 0.1%** | **Qatar - 0.1%** |
| 200000 |  | QatarEnergy, Senior Unsecured Notes, 2.250% due 7/12/31(a) | 180698 |
| **Switzerland - 0.4%** | **Switzerland - 0.4%** | **Switzerland - 0.4%** | **Switzerland - 0.4%** |
|  |  | UBS Group AG, Senior Unsecured Notes: |  |
| 250000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.282% due 1/9/28(a) | 250409 |
| 250000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.869% (3-Month USD-LIBOR + 1.410%) due 1/12/29(a)(b) | 248529 |
| 300000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.194% (SOFR + 3.730%) due 4/1/31(a)(b) | 297987 |
|  |  | Total Switzerland | 796925 |
| **United Arab Emirates - 0.4%** | **United Arab Emirates - 0.4%** | **United Arab Emirates - 0.4%** | **United Arab Emirates - 0.4%** |
|  |  | Abu Dhabi Developmental Holding Co. PJSC, Senior Unsecured Notes: |  |
| 200000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 5/6/30(a) | 202500 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 10/2/31(a) | 500707 |
|  |  | Total United Arab Emirates | 703207 |
| **United Kingdom - 2.2%** | **United Kingdom - 2.2%** | **United Kingdom - 2.2%** | **United Kingdom - 2.2%** |
|  |  | Barclays PLC, Senior Unsecured Notes: |  |
| 800000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.496% (SOFR + 1.880%) due 9/13/27(b) | 813788 |
| 400000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.918% (EUR Swap Rate + 1.750%) due 8/8/30(b) | 494093 |
| 200000 |  | HSBC Holdings PLC, Senior Unsecured Notes, 4.041% (3-Month Term SOFR + 1.808%) due 3/13/28(b) | 199667 |
| 300000 |  | Lloyds Banking Group PLC, Senior Unsecured Notes, 5.721% (1-Year CMT Index + 1.070%) due 6/5/30(b) | 314847 |
| 300000 |  | Nationwide Building Society, Senior Non-Preferred Notes, 2.972% (SOFR + 1.290%) due 2/16/28(a)(b) | 295783 |
| 500000 |  | Santander UK Group Holdings PLC, Senior Unsecured Notes, 6.534% (SOFR + 2.600%) due 1/10/29(b) | 523147 |
| 900000 |  | Standard Chartered PLC, Senior Unsecured Notes, 6.750% (1-Year CMT Index + 1.850%) due 2/8/28(a)(b) | 926087 |
| 500000 | <sup>EUR</sup> | Vmed O2 UK Financing I PLC, Senior Secured Notes, 5.625% due 4/15/32(a) | 589026 |
|  |  | Total United Kingdom | 4156438 |
| **United States - 4.6%** | **United States - 4.6%** | **United States - 4.6%** | **United States - 4.6%** |
|  |  | Athene Global Funding: |  |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secured Notes, 4.835% (SOFR + 0.750%) due 7/16/26(a)(b) | 501109 |
| 300000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Secured Notes, 5.516% due 3/25/27(a) | 304421 |
|  |  | Bank of America Corp., Senior Unsecured Notes: |  |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.202% (SOFR + 1.630%) due 4/25/29(b) | 512857 |
| 700000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.898% (SOFR + 1.530%) due 7/23/31(b) | 631215 |
| 600000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.511% (SOFR + 1.310%) due 1/24/36(b) | 633487 |
| 150000 |  | GA Global Funding Trust, Secured Notes, 2.250% due 1/6/27(a) | 146880 |
| 100000 |  | Goldman Sachs Bank USA, Senior Unsecured Notes, 5.283% (SOFR + 0.777%) due 3/18/27(b) | 100323 |
|  |  | Goldman Sachs Group Inc. (The), Senior Unsecured Notes: |  |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.484% (SOFR + 1.770%) due 10/24/29(b) | 425354 |
| 600000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.727% (SOFR + 1.265%) due 4/25/30(b) | 628522 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.851% (SOFR + 1.552%) due 4/25/35(b) | 537148 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.330% (SOFR + 1.550%) due 7/23/35(b) | 415260 |
|  |  | JPMorgan Chase & Co., Senior Unsecured Notes: |  |
| 600000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.603% (SOFR + 1.040%) due 10/22/30(b) | 609972 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.502% (SOFR + 1.315%) due 1/24/36(b) | 422714 |
| 1300000 |  | Lehman Brothers Holdings Inc., Senior Unsecured Notes, 0.000% due 5/25/49\*(f)(g) | 780 |
| 600000 |  | Lincoln Financial Global Funding, Secured Notes, 5.300% due 1/13/30(a) | 621278 |
| 200000 |  | PacifiCorp, 1st Mortgage Notes, 5.300% due 2/15/31 | 206650 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face <br>Amount/Units†** | | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 11.9% - (continued)** | **CORPORATE BONDS & NOTES - 11.9% - (continued)** | **CORPORATE BONDS & NOTES - 11.9% - (continued)** | **CORPORATE BONDS & NOTES - 11.9% - (continued)** |
| **United States - 4.6% - (continued)** | **United States - 4.6% - (continued)** | **United States - 4.6% - (continued)** | **United States - 4.6% - (continued)** |
|  |  | Philip Morris International Inc., Senior Unsecured Notes: |  |
| $200000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4.875% due 2/13/29 | $204723 |
| 300000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3.250% due 6/6/32 | 345843 |
| 200000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 5.250% due 2/13/34 | 207748 |
|  |  | Wells Fargo & Co., Senior Unsecured Notes: |  |
| 600000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4.808% (SOFR + 1.980%) due 7/25/28(b) | 606584 |
| 500000 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3.900% (3-Month EURIBOR + 1.220%) due 7/22/32(b) | 599134 |
|  |  | Total United States | 8662002 |
|  |  | **TOTAL CORPORATE BONDS & NOTES** |  |
|  |  | (Cost - $21,863,222) | **22359767** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0%** |
| **Asset-Backed Securities - 1.4%** | **Asset-Backed Securities - 1.4%** | **Asset-Backed Securities - 1.4%** | **Asset-Backed Securities - 1.4%** |
| 254463 |  | ACE Securities Corp. Home Equity Loan Trust, Series 2005-HE5, Class M4, 4.969%<br>(1-Month Term SOFR + 1.014%) due 8/25/35(b) | 255673 |
| 295397 |  | Argent Mortgage Loan Trust, Series 2005-W1, Class A1, 4.549%<br>(1-Month Term SOFR + 0.594%) due 5/25/35(b) | 272482 |
| 119256 |  | Bayview Financial Asset Trust, Series 2007-SR1A, Class A, 4.519%<br>(1-Month Term SOFR + 0.564%) due 3/25/37(a)(b) | 120375 |
|  |  | Countrywide Asset-Backed Certificates: |  |
| 188977 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-9, Class 2A4, 4.319% (1-Month Term SOFR + 0.364%) due 2/25/36(b) | 185030 |
| 30957 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-12, Class 1A1, 4.809% (1-Month Term SOFR + 0.854%) due 8/25/47(b) | 30683 |
| 217620 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-13, Class 1A, 4.909% (1-Month Term SOFR + 0.954%) due 10/25/47(b) | 213063 |
| 120850 |  | CSAB Mortgage-Backed Trust, Series 2006-4, Class A6A, step bond to yield, 6.184% due 12/25/36 | 17059 |
| 262019 |  | Ellington Loan Acquisition Trust, Series 2007-2, Class A1, 5.119%<br>(1-Month Term SOFR + 1.164%) due 5/25/37(a)(b) | 260857 |
| 400000 |  | NovaStar Mortgage Funding Trust, Series 2006-1, Class A2D, 4.609%<br>(1-Month Term SOFR + 0.654%) due 5/25/36(b) | 392090 |
| 45081 |  | Option One Mortgage Loan Trust, Series 2007-CP1, Class 1A1, 4.209%<br>(1-Month Term SOFR + 0.254%) due 3/25/37(b) | 41762 |
| 791949 |  | Soundview Home Loan Trust, Series 2006-3, Class A4, 4.569%<br>(1-Month Term SOFR + 0.614%) due 11/25/36(b) | 761843 |
|  |  | Total Asset-Backed Securities | 2550917 |
| **Mortgage Securities - 7.6%** | **Mortgage Securities - 7.6%** | **Mortgage Securities - 7.6%** | **Mortgage Securities - 7.6%** |
| 145404 | <sup>GBP</sup> | ALBA PLC, Series 2007-1, Class A3, 4.277%<br>(Sterling Overnight Index Average + 0.289%) due 3/17/39(b) | 189657 |
| 4187 |  | Banc of America Funding Trust, Series 2006-A, Class 1A1, 5.800% due 2/20/36(b) | 4004 |
|  |  | Bear Stearns Adjustable Rate Mortgage Trust: |  |
| 1296 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-5, Class 1A2, 5.033% due 8/25/33(b) | 1274 |
| 1218 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-7, Class 6A, 5.744% due 10/25/33(b) | 1184 |
| 4331 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class 22A, 6.811% due 5/25/34(b) | 4239 |
| 1428 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class 23A, 4.000% due 5/25/34(b) | 1301 |
| 25071 |  | Bear Stearns Structured Products Inc. Trust, Series 2007-R6, Class 1A1, 5.663% due 1/26/36(b) | 17778 |
| 580141 |  | Chase Home Lending Mortgage Trust, Series 2025-RPL1, Class A1A, 3.375% due 4/25/65(a)(b) | 529915 |
|  |  | Countrywide Alternative Loan Trust: |  |
| 2758 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-21CB, Class A3, 5.250% due 6/25/35 | 2080 |
| 16428 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-16CB, Class 5A1, 6.250% due 8/25/37 | 7374 |
| 32788 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-11T1, Class A12, 4.419% (1-Month Term SOFR + 0.464%) due 5/25/37(b) | 9966 |
| 25376 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-7T2, Class A9, 6.000% due 4/25/37 | 10381 |
|  |  | Countrywide Home Loan Mortgage Pass-Through Trust: |  |
| 34428 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 1A1, 4.709% (1-Month Term SOFR + 0.754%) due 3/25/35(b) | 32070 |
| 424 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3, Class 2A1, 4.649% (1-Month Term SOFR + 0.694%) due 4/25/35(b) | 416 |
| 32666 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9, Class 1A3, 4.529% (1-Month Term SOFR + 0.574%) due 5/25/35(b) | 29236 |
| 10894 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11, Class 3A1, 3.649% due 4/25/35(b) | 7835 |
| 4300 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HYB9, Class 3A2A, 6.224% (1-Year Term SOFR + 2.465%) due 2/20/36(b) | 3856 |
| 490277 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4, Class 1A47, 6.000% due 5/25/37 | 202269 |
| 91937 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-19, Class 2A1, 6.500% due 11/25/47 | 44362 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face <br>Amount/Units†** | | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** |
| **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** |
|  |  | Credit Suisse Commercial Mortgage Capital Trust: |  |
| $34400 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-5R, Class A5, 6.500% due 7/26/36 | $7208 |
| 68078 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV1, Class A3, 2.500% due 7/25/56(a)(b) | 57452 |
| 333948 |  | Deutsche Alternative-A Securities Mortgage Loan Trust, Series 2007-3, Class 2A1, 5.569% (1-Month Term SOFR + 1.614%) due 10/25/47(b) | 262712 |
| 18100 | <sup>GBP</sup> | Eurohome UK Mortgages PLC, Series 2007-1, Class A, 4.257%<br>(Sterling Overnight Index Average + 0.269%) due 6/15/44(b) | 23906 |
| 90400 | <sup>GBP</sup> | Eurosail-UK PLC, Series 2007-4X, Class A3, 5.057%<br>(Sterling Overnight Index Average + 1.069%) due 6/13/45(b) | 119516 |
|  |  | Federal Home Loan Mortgage Corp. (FHLMC), REMICS: |  |
| 2265 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2391, Class FJ, 4.757% (30-Day Average SOFR + 0.614%) due 4/15/28(b) | 2265 |
| 12804 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2614, Class SJ, 7.957% (19.348% - 2.75% x 30-Day Average SOFR) due 5/15/33(d) | 14751 |
| 45579 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 4579, Class FD, 4.779% (30-Day Average SOFR + 0.464%) due 1/15/38(b) | 44984 |
| 45579 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 4579, Class SD, 1.671% due 1/15/38(b)(e) | 2333 |
| 757725 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 5513, Class MF, 5.012% (30-Day Average SOFR + 0.940%) due 11/25/54(b) | 759671 |
|  |  | Federal Home Loan Mortgage Corp. (FHLMC), Structured Pass-Through Certificates: |  |
| 4907 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series T-35, Class A, 4.466% (30-Day Average SOFR + 0.394%) due 9/25/31(b) | 4895 |
| 12975 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series T-62, Class 1A1, 5.278% (1-Year Treasury Average Rate + 1.200%) due 10/25/44(b) | 11960 |
| 3022 |  | Federal National Mortgage Association (FNMA), Grantor Trust, Series 2004-T3, Class 1A1, 6.000% due 2/25/44 | 3048 |
| 17762 |  | Federal National Mortgage Association (FNMA), REMIC Trust, Series 2004-W12, Class 1A1, 6.000% due 7/25/44 | 18571 |
|  |  | Federal National Mortgage Association (FNMA), REMICS: |  |
| 3005 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-34, Class A1, 6.000% due 4/25/43 | 3050 |
| 3246 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-48, Class TF, 4.586% (30-Day Average SOFR + 0.514%) due 6/25/36(b) | 3224 |
| 37335 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2009-104, Class FA, 4.986% (30-Day Average SOFR + 0.914%) due 12/25/39(b) | 37595 |
| 750025 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-90, Class FA, 5.572% (30-Day Average SOFR + 1.500%) due 12/25/54(b) | 755734 |
| 382283 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6, Class GF, 5.472% (30-Day Average SOFR + 1.400%) due 2/25/55(b) | 384399 |
| 747511 |  | GCAT Trust, Series 2023-NQM4, Class A1, 4.250% due 5/25/67(a)(b) | 719613 |
| 6357 |  | GMACM Mortgage Loan Trust, Series 2005-AR6, Class 3A1, 3.724% due 11/19/35(b) | 5592 |
|  |  | Government National Mortgage Association (GNMA): |  |
| 47701 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H15, Class FA, 5.020% (1-Month Term SOFR + 0.914%) due 7/20/66(b) | 47840 |
| 2226 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-121, Class PE, 3.000% due 7/20/46 | 2196 |
| 472766 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-H07, Class JF, 4.889% (30-Day Average SOFR + 0.790%) due 4/20/74(b) | 474025 |
| 712161 |  | GS Mortgage-Backed Securities Corp. Trust, Series 2022-PJ4, Class A4, 2.500% due 9/25/52(a)(b) | 599231 |
|  |  | GS Mortgage-Backed Securities Trust: |  |
| 72346 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GR3, Class A2, 2.500% due 4/25/52(a)(b) | 60874 |
| 73447 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV1, Class A2, 2.500% due 12/25/51(a)(b) | 61892 |
|  |  | GSR Mortgage Loan Trust: |  |
| 1265 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-1, Class A2, 5.880% (1-Year CMT Index + 1.750%) due 3/25/33(b) | 1277 |
| 27783 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR7, Class 2A1, 4.972% due 11/25/35(b) | 26912 |
|  |  | Harborview Mortgage Loan Trust: |  |
| 7925 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 2A1A, 4.513% (1-Month Term SOFR + 0.554%) due 5/19/35(b) | 7746 |
| 10217 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3, Class 2A1A, 4.553% (1-Month Term SOFR + 0.594%) due 6/19/35(b) | 10074 |
| 36369 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-SB1, Class A1A, 4.928%<br>(1-Year Treasury Average Rate + 0.850%) due 12/19/36(b) | 34087 |
| 51303 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1, Class 2A1A, 4.333% (1-Month Term SOFR + 0.374%) due 3/19/37(b) | 48367 |
|  |  | JP Morgan Mortgage Trust: |  |
| 558 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-A2, Class 3A1, 5.871% due 11/25/33(b) | 542 |
| 316 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A1, Class 6T1, 5.560% due 2/25/35(b) | 309 |
| 298575 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-10, Class A3, 2.500% due 12/25/51(a)(b) | 251602 |
| 862273 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV4, Class A2, 3.000% due 1/25/52(a)(b) | 757148 |
| 713478 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV8, Class A2, 3.000% due 5/25/52(a)(b) | 628719 |
| 548714 |  | &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-INV1, Class A3, 3.000% due 3/25/52(a)(b) | 483173 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face <br>Amount/Units†** | | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** |
| **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** |
| $691818 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-LTV2, Class A3, 3.500% due 9/25/52(a)(b) | $632754 |
| 228828 | <sup>GBP</sup> | Ludgate Funding PLC, Series 2007-1, Class A2A, 4.268%<br>(Sterling Overnight Index Average + 0.279%) due 1/1/61(b) | 296952 |
| 300000 |  | Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.130% due 9/10/39(a) | 287693 |
| 1272 |  | Merrill Lynch Mortgage Investors Trust, Series 2003-A2, Class 1A1, 6.199% due 2/25/33(b) | 1200 |
|  |  | MFA Trust: |  |
| 48907 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-NQM2, Class A1, 1.381% due 4/25/65(a)(b) | 47979 |
| 307732 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-NQM4, Class A1, step bond to yield, 6.105% due 12/25/68(a) | 309945 |
|  |  | New Residential Mortgage Loan Trust: |  |
| 110222 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-RPL3, Class A1, 2.750% due 7/25/59(a)(b) | 106881 |
| 119533 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-RPL1, Class A1, 2.750% due 11/25/59(a)(b) | 115498 |
| 248693 | <sup>GBP</sup> | Newgate Funding PLC, Series 2007-1X, Class A3, 4.267%<br>(Sterling Overnight Index Average + 0.279%) due 12/1/50(b) | 323316 |
| 400000 |  | NYO Commercial Mortgage Trust, Series 2021-1290, Class A, 5.168%<br>(1-Month Term SOFR + 1.209%) due 11/15/38(a)(b) | 398837 |
| 794666 |  | OBX Trust, Series 2024-HYB1, Class A1, 3.631% due 3/25/53(a)(b) | 794006 |
| 300000 |  | One New York Plaza Trust, Series 2020-1NYP, Class A, 5.023% (1-Month Term SOFR + 1.064%) due 1/15/36(a)(b) | 288628 |
| 179312 |  | PRET LLC, Series 2021-RN3, Class A1, step bond to yield, 5.843% due 9/25/51(a) | 179540 |
| 299566 |  | PRKCM Trust, Series 2023-AFC4, Class A1, step bond to yield, 7.225% due 11/25/58(a) | 304062 |
| 332271 |  | PRPM Trust, Series 2023-NQM3, Class A1, step bond to yield, 6.221% due 11/25/68(a) | 335115 |
|  |  | RALI Trust: |  |
| 62540 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS6, Class 1A1, 6.000% due 6/25/36 | 51863 |
| 40184 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QO2, Class A1, 4.219% (1-Month Term SOFR + 0.264%) due 2/25/47(b) | 12219 |
|  |  | Residential Asset Securitization Trust: |  |
| 13319 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A15, Class 5A1, 5.750% due 2/25/36 | 4721 |
| 36573 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-R1, Class A2, 4.469% (1-Month Term SOFR + 0.514%) due 1/25/46(b) | 9807 |
| 113134 | <sup>GBP</sup> | ResLoC UK PLC, Series 2007-1X, Class A3B, 4.267% (Sterling Overnight Index Average + 0.279%) due 12/15/43(b) | 147275 |
|  |  | RMAC Securities No 1 PLC: |  |
| 214144 | <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-NS3X, Class A2A, 4.257% (Sterling Overnight Index Average + 0.269%) due 6/12/44(b) | 278016 |
| 112244 | <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-NS1X, Class A2A, 4.257% (Sterling Overnight Index Average + 0.269%) due 6/12/44(b) | 146642 |
|  |  | Structured Adjustable Rate Mortgage Loan Trust: |  |
| 1237 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1, Class 4A1, 6.335% due 2/25/34(b) | 1200 |
| 438 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4, Class 3A2, 6.091% due 4/25/34(b) | 435 |
| 17539 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-19, Class 2A1, 5.478% (1-Year Treasury Average Rate + 1.400%) due 1/25/35(b) | 16365 |
|  |  | Structured Asset Mortgage Investments II Trust: |  |
| 16746 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR2, Class 2A1, 4.529% (1-Month Term SOFR + 0.574%) due 5/25/45(b) | 16146 |
| 18329 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR8, Class A1A, 4.629% (1-Month Term SOFR + 0.674%) due 2/25/36(b) | 15766 |
| 15709 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR5, Class 1A1, 4.489% (1-Month Term SOFR + 0.534%) due 5/25/36(b) | 11216 |
| 82554 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR4, Class A3, 4.509% (1-Month Term SOFR + 0.554%) due 9/25/47(b) | 75005 |
| 45158 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR6, Class A1, 5.578% (1-Year Treasury Average Rate + 1.500%) due 8/25/47(b) | 39224 |
| 39788 |  | Structured Asset Securities Corp., Series 2006-RF1, Class 1A, 4.349%<br>(1-Month Term SOFR + 0.394%) due 1/25/36(a)(b) | 33456 |
| 336062 | <sup>GBP</sup> | Towd Point Mortgage Funding Granite 6 PLC, Series 2024-GR6A, Class A1, 4.916%<br>(Sterling Overnight Index Average + 0.925%) due 7/20/53(a)(b) | 445513 |
|  |  | Towd Point Mortgage Trust: |  |
| 374739 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4, Class A1, 2.900% due 10/25/59(a)(b) | 361788 |
| 88219 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class A1, 2.710% due 1/25/60(a)(b) | 85291 |
| 77760 |  | UWM Mortgage Trust, Series 2021-INV5, Class A12, 3.000% due 1/25/52(a)(b) | 68232 |
|  |  | WaMu Mortgage Pass-Through Certificates Trust: |  |
| 2388 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-AR9, Class 1A, 5.478% (1-Year Treasury Average Rate + 1.400%) due 8/25/42(b) | 2344 |
| 831 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-AR5, Class A7, 5.736% due 6/25/33(b) | 832 |
| 27913 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-AR9, Class 2A, 5.700% due 9/25/33(b) | 27321 |
| 73541 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR1, Class A, 6.183% due 3/25/34(b) | 75023 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face<br>Amount/Units†** | | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 9.0% - (continued)** |
| **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** | **Mortgage Securities - 7.6% - (continued)** |
| $9447 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR13, Class A1A1, 4.649% (1-Month Term SOFR + 0.694%) due 10/25/45(b) | $9225 |
| 18201 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR10, Class 2A1, 4.153% due 9/25/36(b) | 15608 |
| 28178 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR13, Class 2A, 5.578% (1-Year Treasury Average Rate + 1.500%) due 10/25/46(b) | 27141 |
| 13787 |  | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2006-AR5, Class 3A, 5.018% (1-Year Treasury Average Rate + 0.940%) due 7/25/46(b) | 8646 |
| 34337 |  | Washington Mutual MSC Mortgage Pass-Through Certificates Trust, Series 2002-AR3, Class 1A7, 5.991% due 12/25/32(b) | 34109 |
|  |  | Total Mortgage Securities | 14280525 |
|  |  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br> (Cost - $17,941,085) | **16831442** |
| **U.S. GOVERNMENT OBLIGATIONS - 7.6%** | **U.S. GOVERNMENT OBLIGATIONS - 7.6%** | **U.S. GOVERNMENT OBLIGATIONS - 7.6%** | **U.S. GOVERNMENT OBLIGATIONS - 7.6%** |
|  |  | U.S. Treasury Bonds: |  |
| 200000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375% due 11/15/40 | 132508 |
| 1100000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 2/15/41 | 784180 |
| 975000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125% due 8/15/44 | 914405 |
| 300000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 2/15/48(h) | 229242 |
| 175000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 8/15/48 | 133034 |
| 800000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 11/15/48 | 649531 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250% due 8/15/49 | 258250 |
| 350000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 11/15/49(h) | 231533 |
| 3900000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 11/15/54(i) | 3788942 |
| 1900000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625% due 2/15/55(i) | 1884488 |
|  |  | U.S. Treasury Inflation Indexed Notes: |  |
| 1316760 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.500% due 1/15/28(j) | 1296555 |
| 1090665 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 7/15/31 | 1019181 |
| 820197 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 1/15/32 | 756590 |
| 111789 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625% due 7/15/32(h) | 105993 |
| 1526546 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125% due 1/15/33 | 1481300 |
|  |  | U.S. Treasury Notes: |  |
| 200000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 2/29/28(h) | 202180 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 5/15/34(h) | 413633 |
|  |  | **TOTAL U.S. GOVERNMENT OBLIGATIONS**<br> (Cost - $14,897,416) | **14281545** |
| **COLLATERALIZED LOAN OBLIGATIONS - 5.2%** | **COLLATERALIZED LOAN OBLIGATIONS - 5.2%** | **COLLATERALIZED LOAN OBLIGATIONS - 5.2%** | **COLLATERALIZED LOAN OBLIGATIONS - 5.2%** |
| **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** |
| 170118 |  | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class A, 5.592% (30-Day Average SOFR + 1.450%) due 1/15/37(a)(b) | 170150 |
| 113230 |  | BDS Ltd., Series 2021-FL10, Class A, 5.423% (1-Month Term SOFR + 1.464%) due 12/16/36(a)(b) | 113217 |
|  |  | Total Commercial MBS | 283367 |
| **Other ABS - 5.1%** | **Other ABS - 5.1%** | **Other ABS - 5.1%** | **Other ABS - 5.1%** |
| 500000 |  | Bain Capital Credit CLO Ltd., Series 2020-2A, Class ARR, 5.124%<br>(3-Month Term SOFR + 1.240%) due 7/19/34(a)(b) | 500689 |
| 119207 |  | BlueMountain CLO Ltd., Series 2016-3A, Class A1R2, 5.052%<br>(3-Month Term SOFR + 1.200%) due 11/15/30(a)(b) | 119268 |
| 299462 | <sup>EUR</sup> | BNPP AM Euro CLO DAC, Series 2019-1A, Class AR, 2.835%<br>(3-Month EURIBOR + 0.820%) due 7/22/32(a)(b) | 346357 |
| 141798 | <sup>EUR</sup> | Cairn CLO VII DAC, Series 2016-7A, Class A1R, 2.736% (3-Month EURIBOR + 0.670%) due 1/31/30(a)(b) | 164365 |
| 123655 | <sup>EUR</sup> | Cairn CLO X DAC, Series 2018-10A, Class AR, 2.789% (3-Month EURIBOR + 0.780%) due 10/15/31(a)(b) | 143514 |
| 600000 |  | Carlyle Global Market Strategies CLO Ltd., Series 2016-3A, Class ARRR, 4.974%<br>(3-Month Term SOFR + 1.090%) due 7/20/34(a)(b) | 600299 |
| 391416 |  | CarVal CLO I Ltd., Series 2018-1A, Class AR, 5.124% (3-Month Term SOFR + 1.230%) due 7/16/31(a)(b) | 391934 |
| 62252 |  | CIFC Funding Ltd., Series 2017-4A, Class A1R, 5.077% (3-Month Term SOFR + 1.212%) due 10/24/30(a)(b) | 62296 |
| 417172 | <sup>EUR</sup> | CVC Cordatus Opportunity Loan Fund DAC, Series 1A, Class AR, 2.904%<br>(3-Month EURIBOR + 0.840%) due 8/15/33(a)(b) | 482755 |
| 164582 | <sup>EUR</sup> | Dryden 27 Euro CLO DAC, Series 2017-27A, Class AR, 2.686%<br>(3-Month EURIBOR + 0.660%) due 4/15/33(a)(b) | 190801 |
| 600000 |  | Dryden 43 Senior Loan Fund, Series 2016-43A, Class AR3, 4.954%<br>(3-Month Term SOFR + 1.070%) due 4/20/34(a)(b) | 600028 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face<br>Amount/Units†** | | **Security** | **Value** |
| **COLLATERALIZED LOAN OBLIGATIONS - 5.2% - (continued)** | **COLLATERALIZED LOAN OBLIGATIONS - 5.2% - (continued)** | **COLLATERALIZED LOAN OBLIGATIONS - 5.2% - (continued)** | **COLLATERALIZED LOAN OBLIGATIONS - 5.2% - (continued)** |
| **Other ABS - 5.1% - (continued)** | **Other ABS - 5.1% - (continued)** | **Other ABS - 5.1% - (continued)** | **Other ABS - 5.1% - (continued)** |
| $99793 |  | Dryden 55 CLO Ltd., Series 2018-55A, Class A1, 5.186% (3-Month Term SOFR + 1.282%) due 4/15/31(a)(b) | $99845 |
| 500000 |  | Elevation CLO Ltd., Series 2018-3A, Class A1R2, 5.158% (3-Month Term SOFR + 1.300%) due 1/25/35(a)(b) | 499262 |
| 280943 |  | Gallatin CLO VIII Ltd., Series 2017-1A, Class A1R, 5.256% (3-Month Term SOFR + 1.352%) due 7/15/31(a)(b) | 281242 |
| 500000 | <sup>EUR</sup> | Grosvenor Place CLO DAC, Series 2024-2A, Class A, 3.249%<br>(3-Month EURIBOR + 1.240%) due 1/15/39(a)(b) | 580107 |
| 900000 | <sup>EUR</sup> | Hayfin Emerald CLO XIV DAC, Series 14-A, Class A, 3.225%<br>(3-Month EURIBOR + 1.210%) due 1/22/39(a)(b) | 1043624 |
| 500000 |  | ICG U.S. CLO Ltd., Series 2021-3A, Class AR, 5.034%<br>(3-Month Term SOFR + 1.150%) due 10/20/34(a)(b) | 499999 |
| 700000 |  | Jamestown CLO XVI Ltd., Series 2021-16A, Class AR, 4.978%<br>(3-Month Term SOFR + 1.120%) due 7/25/34(a)(b) | 700027 |
| 267760 |  | Northwoods Capital XII-B Ltd., Series 2018-12BA, Class AR, 5.228%<br>(3-Month Term SOFR + 1.190%) due 6/15/31(a)(b) | 267621 |
| 500000 | <sup>EUR</sup> | Palmer Square European Loan Funding DAC, Series 2025-3A, Class A, 3.047%<br>(3-Month EURIBOR + 0.930%) due 7/15/35(a)(b) | 579119 |
| 500000 | <sup>EUR</sup> | Providus CLO II DAC, Series 2A, Class ARR, 3.169% (3-Month EURIBOR + 1.160%) due 10/15/38(a)(b) | 581316 |
| 300000 | <sup>EUR</sup> | Rockford Tower Europe CLO DAC, Series 2018-1A, Class A1RR, 3.326%<br>(3-Month EURIBOR + 1.260%) due 8/29/36(a)(b) | 348109 |
| 425945 | <sup>EUR</sup> | St Pauls CLO, Series 11A, Class AR, 2.866% (3-Month EURIBOR + 0.850%) due 1/17/32(a)(b) | 494363 |
|  |  | Total Other ABS | 9576940 |
|  |  | **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br> (Cost - $9,633,322) | **9860307** |
| **ASSET-BACKED SECURITIES - 0.1%** | **ASSET-BACKED SECURITIES - 0.1%** | **ASSET-BACKED SECURITIES - 0.1%** | **ASSET-BACKED SECURITIES - 0.1%** |
| **Student Loans - 0.1%** | **Student Loans - 0.1%** | **Student Loans - 0.1%** | **Student Loans - 0.1%** |
| 14483 |  | Massachusetts Educational Financing Authority, Series 2008-1, Class A1, 5.525%<br>(90-Day Average SOFR + 1.212%) due 4/25/38(b) | 14498 |
| 196634 |  | SMB Private Education Loan Trust, Series 2022-B, Class A1B, 5.592%<br>(30-Day Average SOFR + 1.450%) due 2/16/55(a)(b) | 198619 |
|  |  | **TOTAL ASSET-BACKED SECURITIES**<br> (Cost - $211,117) | **213117** |
| **MUNICIPAL BOND - 0.1%** | **MUNICIPAL BOND - 0.1%** | **MUNICIPAL BOND - 0.1%** | **MUNICIPAL BOND - 0.1%** |
| **Arizona - 0.1%** | **Arizona - 0.1%** | **Arizona - 0.1%** | **Arizona - 0.1%** |
| 200000 |  | Maricopa County Industrial Development Authorities, Revenue Bonds, 7.375% due 10/1/29(a)<br> (Cost - $200,000) | **210460** |
|  |  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $214,326,966) | **205588544** |
| **SHORT-TERM INVESTMENTS - 5.6%** | **SHORT-TERM INVESTMENTS - 5.6%** | **SHORT-TERM INVESTMENTS - 5.6%** | **SHORT-TERM INVESTMENTS - 5.6%** |
| **COMMERCIAL PAPERS - 0.9%** | **COMMERCIAL PAPERS - 0.9%** | **COMMERCIAL PAPERS - 0.9%** | **COMMERCIAL PAPERS - 0.9%** |
| 250000 |  | Canadian Natural Resources Ltd., 4.192% due 12/8/25(a)(k) | 249797 |
| 250000 |  | Enbridge US Inc., 4.165% due 12/22/25(a)(k) | 249395 |
| 1200000 |  | Oracle Corp., 4.274% due 1/16/26(a)(k) | 1193529 |
|  |  | **TOTAL COMMERCIAL PAPERS**<br> (Cost - $1,692,721) | **1692721** |
| **TIME DEPOSITS - 4.7%** | **TIME DEPOSITS - 4.7%** | **TIME DEPOSITS - 4.7%** | **TIME DEPOSITS - 4.7%** |
| 115115 | <sup>AUD</sup> | ANZ National Bank - Hong Kong, 2.300% due 12/1/25 | 75372 |
|  |  | BBH - New York: |  |
| 18422 | <sup>DKK</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.600% due 12/1/25 | 2860 |
| 5434 | <sup>SEK</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.660% due 12/1/25 | 575 |
| 57393 | <sup>NZD</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1.100% due 12/1/25 | 32915 |
| 581889 | <sup>NOK</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2.720% due 12/1/25 | 57476 |
| 4828 | <sup>ZAR</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 4.580% due 12/1/25 | 282 |
| 1132 | <sup>CHF</sup> | BNP Paribas - Paris, (0.300)% due 12/1/25 | 1408 |
|  |  | Citibank - London: |  |
| 475371 | <sup>EUR</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.880% due 12/1/25 | 551264 |
| 2105699 | <sup>GBP</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 2.910% due 12/1/25 | 2786366 |
| 3126533 |  | Citibank - New York, 3.220% due 12/1/25 | 3126533 |
| 452 | <sup>HKD</sup> | HSBC Bank - Hong Kong, 0.980% due 12/1/25 | 58 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face<br>Amount/Units†** | | **Security** | **Value** |
| **SHORT-TERM INVESTMENTS - 5.6% - (continued)** | **SHORT-TERM INVESTMENTS - 5.6% - (continued)** | **SHORT-TERM INVESTMENTS - 5.6% - (continued)** | **SHORT-TERM INVESTMENTS - 5.6% - (continued)** |
| **TIME DEPOSITS - 4.7% - (continued)** | **TIME DEPOSITS - 4.7% - (continued)** | **TIME DEPOSITS - 4.7% - (continued)** | **TIME DEPOSITS - 4.7% - (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143872 | <sup>SGD</sup> | HSBC Bank - Singapore, 0.350% due 12/1/25 | $111021 |
| 90551 | <sup>CAD</sup> | Royal Bank of Canada - Toronto, 1.080% due 12/1/25 | 64770 |
|  |  | Sumitomo Mitsui Banking Corp. - Tokyo: |  |
| 77384181 | <sup>JPY</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.120% due 12/1/25 | 495386 |
| $1549659 |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.220% due 12/1/25 | 1549659 |
|  |  | **TOTAL TIME DEPOSITS**<br> (Cost - $8,855,945) | **8855945** |
|  |  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $10,548,666) | **10548666** |
|  |  | **TOTAL INVESTMENTS IN SECURITIES**<br> (Cost - $224,875,632) | **216137210** |
|  |  | **TOTAL INVESTMENTS IN PURCHASED OPTIONS - 0.0%@**<br> (Cost - $57,196) | **53490** |
|  |  | **TOTAL INVESTMENTS - 115.1%**<br> (Cost - $224,932,828) | **216190700** |
|  |  | Liabilities in Excess of Other Assets - (15.1)% | (28337648) |
|  |  | **TOTAL NET ASSETS - 100.0%** | $**187853052** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

\* Non-income producing security.

---

| | |
|:---|:---|
| @ | The amount is less than 0.05%.  |

---

(a) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30,
2025, amounts to $54,694,658 and represents 29.1% of net assets.

(b) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2025.

(c) This security is traded on a TBA basis (see Note 1).

(d) Inverse Floating Rate Security - interest rate fluctuates with an inverse relationship to an associated
interest rate. Indicated rate is the effective rate as of November 30, 2025.

(e) Interest only security.

(f) Illiquid security.

(g) Security is currently in default.

(h) All or a portion of this security is held at the broker as collateral for open over-the-counter ("OTC") swap contracts.

(i) Position, or portion thereof, has been segregated to collateralize reverse repurchase agreement.

(j) All or a portion of this security is held at the broker as collateral for open centrally cleared swap
contracts.

(k) Rate shown represents yield-to-maturity.

(l) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

At November 30, 2025, for International Fixed Income Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net**<br> **Unrealized<br>(Depreciation)** |
|  International Fixed Income Fund | $224932828 | $10961360 | $(18328882) | $(7367522) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

**<u>Abbreviations used in this schedule:</u>**

---

| | |
|:---|:---|
|  ABS | Asset-Backed Security |
|  CLO | Collateralized Loan Obligation |
|  CMT | Constant Maturity Treasury Rate |
|  CPI | Consumer Price Index |
|  DAC | Designated Activity Company |
|  EURIBOR | Euro Interbank Offered Rate |
|  LIBOR | London Interbank Offered Rate |
|  LLC | Limited Liability Company |
|  MBS | Mortgage-Backed Security |
|  OAT | Obligations assimilables du Trésor |
|  PAM | Paid at Maturity |
|  PJSC | Private Joint Stock Company |
|  PLC | Public Limited Company |
|  REMICS | Real Estate Mortgage Investment Conduits |
|  SOFR | Secured Overnight Financing Rate |

---

---

| | |
|:---|:---|
| **Summary of Investments by Security Type^** | |
|  Sovereign Bonds | 37.0% |
|  Mortgage-Backed Securities | 28.7 |
|  Corporate Bonds & Notes | 10.3 |
|  Collateralized Mortgage Obligations | 7.8 |
|  U.S. Government Obligations | 6.6 |
|  Collateralized Loan Obligations | 4.5 |
|  Asset-Backed Securities | 0.1 |
|  Municipal Bond | 0.1 |
|  Purchased Options | 0.0 \* |
|  Short-Term Investments | 4.9 |
|  Total Investments | 100.0% |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

\* Position represents less than 0.05% 

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following Options Contracts Purchased:

**Currency Options** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Number of<br>Contracts** | **Notional <br>Amount†** | **Notional <br>Amount†** | **Security Name** | **Counterparty** | **Expiration<br>Date** | **Strike Price** | **Value** |
| 372000 | 141879789 | <sup>CZK</sup> | OTC Euro vs Czech Koruna, Put | BOA | 3/11/26 | 24.20 | $2617 |
| 1287127 | 31122553 | <sup>CZK</sup> | OTC Euro vs Czech Koruna, Put | JPM | 3/5/26 | 24.20 | 8812 |
| 294000 | 112130801 | <sup>HUF</sup> | OTC Euro vs Hungarian Forint, Put | BOA | 2/13/26 | 382.00 | 2388 |
| 272000 | 103740061 | <sup>HUF</sup> | OTC Euro vs Hungarian Forint, Put | JPM | 2/20/26 | 380.00 | 1668 |
| 45500 | $52764 |  | OTC Euro vs U.S. Dollar, Put | GSC | 12/17/25 | $1.10 | 55 |
| 45500 | 52764 |  | OTC Euro vs U.S. Dollar, Put | HSBC | 12/23/25 | $1.10 | 81 |
| 900000 | 4802625 | <sup>BRL</sup> | OTC U.S. Dollar vs Brazilian Real, Put | BOA | 2/5/26 | 5.40 | 14220 |
| 435000 | 2321269 | <sup>BRL</sup> | OTC U.S. Dollar vs Brazilian Real, Put | GSC | 12/10/25 | 5.48 | 10580 |
| 103000 | 103000 |  | OTC U.S. Dollar vs Hong Kong Dollar, Call | GSC | 8/14/26 | 7.80 | 92 |
| 198000 | 198000 |  | OTC U.S. Dollar vs Hong Kong Dollar, Call | HSBC | 8/24/26 | 7.80 | 184 |
| 422000 | 422000 |  | OTC U.S. Dollar vs Hong Kong Dollar, Call | BOA | 8/14/26 | 7.80 | 377 |
| 379000 | 379000 |  | OTC U.S. Dollar vs Hong Kong Dollar, Call | HSBC | 8/14/26 | 7.80 | 338 |
| 661000 | 661000 |  | OTC U.S. Dollar vs Hong Kong Dollar, Call | BOA | 8/24/26 | 7.80 | 613 |
| 717000 | 1052556000 | <sup>KRW</sup> | OTC U.S. Dollar vs Korean Won, Put | BOA | 2/11/26 | 1419.00 | 3496 |
| 717000 | 1052556000 | <sup>KRW</sup> | OTC U.S. Dollar vs Korean Won, Put | BOA | 2/11/26 | 1417.00 | 3299 |
| 459000 | 673812000 | <sup>KRW</sup> | OTC U.S. Dollar vs Korean Won, Put | BOA | 2/12/26 | 1419.00 | 2295 |
| 462000 | 462000 |  | OTC U.S. Dollar vs Singapore Dollar, Call | BOA | 11/5/26 | 1.32 | 2375 |
|  |  |  | **TOTAL OPTIONS CONTRACTS PURCHASED**<br> (Cost — $57,196) |  |  |  | $**53490** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following Options Contracts Written:

**Currency Options** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Number of<br>Contracts** | **Notional <br>Amount†** | | **Security Name** | **Counterparty** | **Expiration<br>Date** | **Strike Price** | **Strike Price** | **Value** |
| 900000 | 4802625 | <sup>BRL</sup> | OTC U.S. Dollar vs Brazilian Real, Call | BOA | 2/5/26 | BRL | 5.69 | $6248 |
| 435000 | 2321269 | <sup>BRL</sup> | OTC U.S. Dollar vs Brazilian Real, Call | GSC | 12/10/25 | BRL | 5.80 | 61 |
| 900000 | $900000 |  | OTC U.S. Dollar vs Brazilian Real, Put | BOA | 2/5/26 | BRL | 5.16 | 1533 |
| 435000 | 435000 |  | OTC U.S. Dollar vs Brazilian Real, Put | GSC | 12/10/25 | BRL | 5.28 | 487 |
| 103000 | 801917 | <sup>HKD</sup> | OTC U.S. Dollar vs Hong Kong Dollar, Call | GSC | 8/14/26 | HKD | 7.85 | 53 |
| 198000 | 198000 | <sup>HKD</sup> | OTC U.S. Dollar vs Hong Kong Dollar, Call | HSBC | 8/24/26 | HKD | 7.85 | 107 |
| 422000 | 3285523 | <sup>HKD</sup> | OTC U.S. Dollar vs Hong Kong Dollar, Call | BOA | 8/14/26 | HKD | 7.85 | 218 |
| 379000 | 2950742 | <sup>HKD</sup> | OTC U.S. Dollar vs Hong Kong Dollar, Call | HSBC | 8/14/26 | HKD | 7.85 | 196 |
| 661000 | 661000 | <sup>HKD</sup> | OTC U.S. Dollar vs Hong Kong Dollar, Call | BOA | 8/24/26 | HKD | 7.85 | 358 |
| 717000 | 717000 |  | OTC U.S. Dollar vs Korean Won, Put | BOA | 2/11/26 | KRW | 1382.00 | 1139 |
| 717000 | 717000 |  | OTC U.S. Dollar vs Korean Won, Put | BOA | 2/11/26 | KRW | 1380.00 | 1071 |
| 459000 | 459000 |  | OTC U.S. Dollar vs Korean Won, Put | BOA | 2/12/26 | KRW | 1383.00 | 777 |
| 462000 | 462000 |  | OTC U.S. Dollar vs Singapore Dollar, Put | BOA | 11/5/26 | SGD | 1.24 | 3672 |
|  |  |  | Total Currency Options |  |  |  |  | $15920 |

---

**Interest Rate Swaptions** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number of<br>Contracts** | **Notional <br>Amount†** | **Security Name** | **Counterparty** | **Expiration<br>Date** | **Exercise<br>Rate** | **Value** |
| 700000 | $28840 | OTC 10-Year Swaption, SOFR, Call | BNP | 12/8/25 | 3.480% | $357 |
| 700000 | 28840 | OTC 10-Year Swaption, SOFR, Call | GSC | 12/17/25 | 3.545% | 2148 |
| 700000 | 28840 | OTC 10-Year Swaption, SOFR, Put | BNP | 12/8/25 | 3.780% | 181 |
| 700000 | 28840 | OTC 10-Year Swaption, SOFR, Put | GSC | 12/17/25 | 3.845% | 417 |
|  |  | Total Interest Rate Swaptions |  |  |  | $3103 |
|  |  | **TOTAL OPTIONS CONTRACTS WRITTEN**<br> (Premiums received — $35,486) |  |  |  | $**19023** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following Reverse Repurchase Agreements:

---

| | | | |
|:---|:---|:---|:---|
| **Face<br>Amount†** | | **Security** | **Value** |
| 1954511 | <sup>GBP</sup> | BNP Paribas SA, 4.220% due 12/5/25 | $2586307 |
|  |  | Deutsche Bank Securities Inc.: |  |
| $1914250 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4.180% due 12/1/25 | 1914250 |
| 293250 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4.200% due 12/5/25 | 293250 |
|  |  | **TOTAL REVERSE REPURCHASE AGREEMENTS**<br> (Proceeds — $4,796,738) | $**4793807** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

For the period ended November 30, 2025, the daily average borrowing and weighted average interest rate under the reverse repurchase agreements were $1,362,736 and 4.210%, respectively.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following Forward Sale Commitments:

---

| | | |
|:---|:---|:---|
| **Face<br>Amount†** | **Security** | **Value** |
|  | Federal National Mortgage Association (FNMA): |  |
| $2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 12/1/40(a) | $1941952 |
| 18050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 12/1/55(a) | 14691489 |
| 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 1/1/56(a) | 595819 |
| 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 1/1/56(a) | 2220917 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 1/1/56(a) | 277430 |
| 1963000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 1/1/56(a) | 1920255 |
| 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 12/1/55(a) | 708934 |
| 365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 1/1/56(a) | 373676 |
|  | **TOTAL FORWARD SALE COMMITMENTS**<br> (Proceeds — $22,684,328) | $**22730472** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

(a) This security is traded on a TBA basis (see Note 1).

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund had open exchange-traded futures contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of<br>Contracts** | **Expiration<br>Date<br>(Month/Year)** | **Notional<br>Amount** | **Value** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Government 3-Year Bond Futures | 54 | 12/25 | $3789609 | $3743437 | $(46172) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada Government 10-Year Bond Futures | 82 | 3/26 | 7162643 | 7210815 | 48172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-BTP Futures | 134 | 12/25 | 18450367 | 18860060 | 409693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-BTP Futures | 41 | 3/26 | 5757743 | 5758253 | 510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Buxl 30-Year Bond Futures | 11 | 12/25 | 1427158 | 1451650 | 24492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-OAT Futures | 23 | 12/25 | 3212057 | 3276649 | 64592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Schatz Note Futures | 53 | 12/25 | 6581292 | 6574839 | (6453) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 5-Year Note Futures | 46 | 3/26 | 5031248 | 5049219 | 17971 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 10-Year Note Futures | 17 | 3/26 | 1916352 | 1926844 | 10492 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Ultra Long Bond Futures | 78 | 3/26 | 9004316 | 9063844 | 59528 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom Treasury 10-Year Gilt Futures | 98 | 3/26 | 11763994 | 11875956 | 111962 |
|  |  |  |  |  | 694787 |
|  **Contracts to Sell:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Government 10-Year Bond Futures | 120 | 12/25 | 8922332 | 8780919 | 141413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Bobl Futures | 30 | 3/26 | 4072262 | 4068284 | 3978 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Bund Futures | 27 | 3/26 | 4049544 | 4045636 | 3908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan Government 10-Year Bond Futures | 13 | 12/25 | 11409560 | 11245695 | 163865 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 2-Year Note Futures | 35 | 3/26 | 7302969 | 7310079 | (7110) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Long Bond Futures | 1 | 3/26 | 116188 | 117438 | (1250) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Ultra Long Bond Futures | 29 | 3/26 | 3475461 | 3507188 | (31727) |
|  |  |  |  |  | 273077 |
|  Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Appreciation on Open Exchange-Traded Futures Contracts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967864 |

---

At November 30, 2025, International Fixed Income Fund had deposited cash of $1,550,000 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund had open forward foreign currency contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 2475476 | USD | 1608601 | BNP | $1620817 | 12/2/25 | $12216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 2769178 | USD | 1788687 | WFB | 1813119 | 12/2/25 | 24432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 192189 | USD | 36032 | BNP | 36015 | 12/2/25 | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 594792 | USD | 110000 | BNP | 111463 | 12/2/25 | 1463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 1297032 | USD | 240000 | BOA | 243061 | 12/2/25 | 3061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 18337241 | USD | 3437932 | GSC | 3436354 | 12/2/25 | (1578) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 507686 | USD | 92283 | GSC | 93208 | 3/3/26 | 925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 1357353 | USD | 246357 | GSC | 250630 | 2/3/26 | 4273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 18214441 | USD | 3287271 | GSC | 3344042 | 3/3/26 | 56771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 661069 | USD | 122511 | SCB | 123883 | 12/2/25 | 1372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 17867708 | USD | 3300949 | SOG | 3348364 | 12/2/25 | 47415 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 1918000 | USD | 2531840 | BCLY | 2537990 | 1/14/26 | 6150 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 215000 | USD | 282018 | BOA | 284499 | 12/2/25 | 2481 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 203000 | USD | 265056 | SOG | 268620 | 12/2/25 | 3564 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 6637189 | USD | 8715957 | WFB | 8782662 | 12/2/25 | 66705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 4813015 | USD | 3412276 | HSBC | 3442663 | 12/2/25 | 30387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 264000 | USD | 187191 | JPM | 188835 | 12/2/25 | 1644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 1416000 | USD | 200305 | HSBC | 200554 | 12/19/25 | 249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 14501000 | USD | 2051161 | UBS | 2053835 | 12/19/25 | 2674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 474003 | USD | 66938 | BNP | 67020 | 12/8/25 | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 453417 | USD | 64191 | BNP | 64336 | 2/3/26 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 730143 | USD | 103443 | BNP | 103641 | 2/11/26 | 198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 2643115 | USD | 373516 | BNP | 373820 | 12/12/25 | 304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 2404862 | USD | 339622 | BNP | 339932 | 12/4/25 | 310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 1231945 | USD | 174410 | BNP | 174870 | 2/11/26 | 460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 2873681 | USD | 405910 | BNP | 406372 | 12/10/25 | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 3137206 | USD | 444263 | BNP | 445272 | 2/9/26 | 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 2874256 | USD | 406957 | BNP | 407991 | 2/11/26 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 95093 | USD | 13465 | BOA | 13490 | 1/30/26 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 112618 | USD | 15966 | BOA | 16002 | 3/4/26 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 61320 | USD | 8659 | DUB | 8668 | 12/4/25 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 890979 | USD | 126287 | GSC | 126484 | 2/13/26 | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 2454051 | USD | 348562 | JPM | 347865 | 1/16/26 | (697) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 339024 | USD | 48000 | SCB | 48092 | 1/29/26 | 92 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy: (continued)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 735020 | USD | 104000 | SCB | $104167 | 1/12/26 | $167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danish Krone | 6613975 | USD | 1026362 | BCLY | 1029932 | 1/14/26 | 3570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danish Krone | 3985750 | USD | 621108 | BOA | 618896 | 12/2/25 | (2212) |
| &nbsp;&nbsp;&nbsp;&nbsp; Danish Krone | 2646808 | USD | 413009 | JPM | 410989 | 12/2/25 | (2020) |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 760283 | USD | 15570 | BOA | 15738 | 12/29/25 | 168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 1219365 | USD | 23700 | DUB | 23929 | 4/16/26 | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 1552642 | USD | 31430 | DUB | 31678 | 1/27/26 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 353841 | USD | 6986 | DUB | 7403 | 12/8/25 | 417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 963680 | USD | 19000 | DUB | 20224 | 12/2/25 | 1224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 202280 | USD | 4000 | GSC | 4232 | 12/8/25 | 232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 453722 | USD | 8900 | HSBC | 8762 | 5/20/26 | (138) |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 881100 | USD | 18000 | HSBC | 17985 | 1/26/26 | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 630500 | USD | 13000 | HSBC | 13006 | 1/5/26 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 353975 | USD | 6979 | HSBC | 7402 | 12/9/25 | 423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 1503040 | USD | 30800 | HSBC | 31335 | 12/15/25 | 535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 1959105 | USD | 39300 | HSBC | 40110 | 1/20/26 | 810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 935232 | USD | 19200 | JPM | 19224 | 1/12/26 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 4415400 | USD | 90000 | SOG | 89086 | 2/18/26 | (914) |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 493000 | USD | 10000 | SOG | 9917 | 2/24/26 | (83) |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 201597 | USD | 4100 | SOG | 4057 | 2/23/26 | (43) |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 1572970 | USD | 32200 | SOG | 32793 | 12/15/25 | 593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 80000 | USD | 92989 | BNP | 92772 | 12/2/25 | (217) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 155000 | USD | 179615 | JPM | 179746 | 12/2/25 | 131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 24528994 | USD | 28330988 | SOG | 28445053 | 12/2/25 | 114065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hungarian Forint | 18544107 | USD | 55838 | BNP | 56326 | 12/17/25 | 488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hungarian Forint | 13170286 | USD | 39787 | UBS | 40003 | 12/17/25 | 216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 99767307 | USD | 1120686 | BNP | 1112650 | 1/30/26 | (8036) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 15250544 | USD | 172000 | BNP | 170484 | 12/22/25 | (1516) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 2659380 | USD | 30000 | BOA | 29740 | 12/15/25 | (260) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 2679450 | USD | 30000 | BOA | 29939 | 12/31/25 | (61) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 36342694 | USD | 408377 | DUB | 405310 | 1/30/26 | (3067) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 18985899 | USD | 213004 | DUB | 211739 | 1/30/26 | (1265) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 23047960 | USD | 260000 | GSC | 257651 | 12/22/25 | (2349) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 2679570 | USD | 30000 | GSC | 29940 | 12/31/25 | (60) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 19519479 | USD | 219187 | JPM | 217690 | 1/30/26 | (1497) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 2034564650 | USD | 122234 | BNP | 122144 | 12/17/25 | (90) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 3064658320 | USD | 183966 | BNP | 183986 | 12/17/25 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 2487313944 | USD | 147841 | BNP | 149325 | 12/17/25 | 1484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1516874983 | USD | 90698 | BOA | 91065 | 12/17/25 | 367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 2470647520 | USD | 147766 | GSC | 148325 | 12/17/25 | 559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 2513173270 | USD | 150137 | SCB | 150878 | 12/17/25 | 741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 96000 | USD | 30009 | BNP | 29480 | 1/15/26 | (529) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 152100000 | USD | 973271 | BNP | 973689 | 12/2/25 | 418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 64900000 | USD | 414985 | BNP | 415466 | 12/2/25 | 481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 141839454 | USD | 911374 | BNP | 912212 | 1/14/26 | 838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 51537311 | USD | 329670 | HSBC | 329923 | 12/2/25 | 253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 59500000 | USD | 382335 | HSBC | 382663 | 1/14/26 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 185687219 | USD | 1186879 | HSBC | 1188703 | 12/2/25 | 1824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 335862039 | USD | 2150413 | SCB | 2150067 | 12/2/25 | (346) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 194683770 | USD | 1243112 | SCB | 1246295 | 12/2/25 | 3183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 1333692280 | USD | 8489448 | SOG | 8537816 | 12/2/25 | 48368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan Tenge | 2823615 | USD | 5100 | DUB | 5482 | 12/11/25 | 382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan Tenge | 3363000 | USD | 5900 | DUB | 6321 | 3/11/26 | 421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan Tenge | 10451265 | USD | 19590 | DUB | 20260 | 12/15/25 | 670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan Tenge | 6358550 | USD | 11000 | DUB | 11887 | 3/26/26 | 887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan Tenge | 8319750 | USD | 15000 | DUB | 16146 | 12/12/25 | 1146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan Tenge | 37387710 | USD | 70410 | DUB | 72476 | 12/15/25 | 2066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 291576767 | USD | 200000 | BNP | 198842 | 12/22/25 | (1158) |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 204435885 | USD | 140100 | BNP | 139361 | 12/15/25 | (739) |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 439560000 | USD | 300000 | BNP | 299760 | 12/22/25 | (240) |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysian Ringgit | 451858 | USD | 107739 | BCLY | 109402 | 12/17/25 | 1663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 5136000 | USD | 277354 | BCLY | 277373 | 3/18/26 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 6055000 | USD | 327431 | BOA | 327763 | 2/24/26 | 332 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy: (continued)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 2584000 | USD | 139245 | BOA | $140892 | 12/17/25 | $1647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 3472000 | USD | 186957 | BOA | 189311 | 12/17/25 | 2354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 2434000 | USD | 131190 | GSC | 131680 | 3/2/26 | 490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 5323000 | USD | 287144 | HSBC | 288167 | 2/23/26 | 1023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 1380950 | USD | 74389 | JPM | 74731 | 2/27/26 | 342 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 314 | USD | 17 | SOG | 17 | 3/18/26 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 114257 | USD | 6156 | SOG | 6230 | 12/17/25 | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 1368267 | USD | 73732 | UBS | 74045 | 2/27/26 | 313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 2028000 | USD | 109700 | UBS | 110576 | 12/17/25 | 876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 33337964 | USD | 1797272 | WFB | 1809139 | 1/29/26 | 11867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 6173800 | USD | 324033 | WFB | 336627 | 12/17/25 | 12594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 18998292 | USD | 1002538 | WFB | 1035882 | 12/17/25 | 33344 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 7156588 | USD | 230000 | BNP | 228374 | 12/22/25 | (1626) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 4844439 | USD | 156000 | BNP | 154591 | 12/22/25 | (1409) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 2884395 | USD | 93000 | BNP | 92024 | 12/19/25 | (976) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 3123140 | USD | 100000 | BOA | 99726 | 12/31/25 | (274) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 3133900 | USD | 100000 | BOA | 100070 | 12/31/25 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 216408 | USD | 122969 | BNP | 124351 | 1/14/26 | 1382 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 775409 | USD | 444352 | GSC | 444697 | 12/2/25 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 576266 | USD | 331336 | WFB | 330489 | 12/2/25 | (847) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 355793 | USD | 200450 | WFB | 204443 | 1/14/26 | 3993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nigerian Naira | 89411000 | USD | 53000 | DUB | 53865 | 10/21/26 | 865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nigerian Naira | 193262250 | USD | 127000 | DUB | 128496 | 2/20/26 | 1496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nigerian Naira | 18168000 | USD | 12000 | SCB | 12056 | 2/25/26 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nigerian Naira | 126160000 | USD | 83000 | SCB | 85129 | 1/16/26 | 2129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Krone | 282884 | USD | 27663 | JPM | 27942 | 12/2/25 | 279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 4270531 | USD | 1270235 | BOA | 1270181 | 12/17/25 | (54) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 120345 | USD | 33034 | BCLY | 32937 | 1/23/26 | (97) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 526834 | USD | 143087 | BNP | 144195 | 1/16/26 | 1108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 219000 | USD | 59980 | BOA | 59941 | 1/16/26 | (39) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 836768 | USD | 228363 | BOA | 229025 | 1/16/26 | 662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 584618 | USD | 160009 | GSC | 160003 | 1/23/26 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 572000 | USD | 156395 | GSC | 156558 | 1/16/26 | 163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 218000 | USD | 59871 | HSBC | 59667 | 1/16/26 | (204) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 256000 | USD | 69878 | HSBC | 70068 | 1/16/26 | 190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 295000 | USD | 80552 | HSBC | 80743 | 1/16/26 | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 425960 | USD | 115346 | JPM | 116580 | 1/23/26 | 1234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 855681 | USD | 232865 | JPM | 234202 | 1/16/26 | 1337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 401021 | USD | 109438 | UBS | 109755 | 1/23/26 | 317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 650639 | USD | 178583 | WFB | 178072 | 1/23/26 | (511) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 898941 | USD | 244186 | WFB | 246043 | 1/16/26 | 1857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 7333309 | USD | 5633640 | HSBC | 5658854 | 12/2/25 | 25214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 282000 | USD | 216686 | SCB | 217610 | 12/2/25 | 924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 279189 | USD | 215505 | SOG | 216158 | 1/14/26 | 653 |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 5045362 | USD | 292400 | BCLY | 294830 | 12/4/25 | 2430 |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 8993018 | USD | 518031 | DUB | 525514 | 12/4/25 | 7483 |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 4635738 | USD | 269956 | GSC | 270893 | 12/4/25 | 937 |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 8807874 | USD | 508391 | UBS | 514695 | 12/4/25 | 6304 |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 6234273 | USD | 363992 | WFB | 364304 | 12/4/25 | 312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 101897 | USD | 127098 | GSC | 127491 | 1/14/26 | 393 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 437555 | USD | 550584 | SOG | 544494 | 12/2/25 | (6090) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 48743 | USD | 60478 | WFB | 60656 | 12/2/25 | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 485 | USD | 15 | BNP | 15 | 12/8/25 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 610 | USD | 19 | BNP | 19 | 12/8/25 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 1965731 | USD | 61037 | BNP | 61224 | 12/8/25 | 187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 1802 | USD | 56 | HSBC | 57 | 1/21/26 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 2622686 | USD | 80850 | JPM | 81686 | 12/8/25 | 836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 281943 | USD | 6215 | BCLY | 6362 | 1/22/26 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 1086248 | USD | 24034 | BCLY | 24283 | 2/3/26 | 249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 551942 | USD | 12598 | BCLY | 12916 | 12/9/25 | 318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 8768939 | USD | 191918 | BCLY | 192768 | 2/26/26 | 850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 13003850 | USD | 284891 | BCLY | 285865 | 2/26/26 | 974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 5822868 | USD | 127563 | BCLY | 128562 | 2/20/26 | 999 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy: (continued)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 5931877 | USD | 131000 | BCLY | $132312 | 2/6/26 | $1312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 10653862 | USD | 233024 | BCLY | 234374 | 2/25/26 | 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 985950 | USD | 21000 | BCLY | 22915 | 12/17/25 | 1915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 1025673 | USD | 22000 | BCLY | 23940 | 12/12/25 | 1940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 3930576 | USD | 89124 | BCLY | 91352 | 12/17/25 | 2228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 22644885 | USD | 495273 | BCLY | 498525 | 2/24/26 | 3252 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 5898239 | USD | 133762 | BCLY | 137316 | 12/15/25 | 3554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 5822502 | USD | 132805 | BCLY | 136996 | 12/2/25 | 4191 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 6434173 | USD | 146705 | BCLY | 151270 | 12/3/25 | 4565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 527204 | USD | 11882 | BOA | 12305 | 12/12/25 | 423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 3145365 | USD | 70916 | BOA | 71487 | 1/13/26 | 571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 6549697 | USD | 145355 | BOA | 147321 | 1/26/26 | 1966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 6537872 | USD | 143393 | GSC | 144558 | 2/18/26 | 1165 |
|  |  |  |  |  |  |  | 579280 |
|  **Contracts to Sell:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 2475476 | USD | 1609094 | BNP | 1621341 | 1/14/26 | (12247) |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 4437586 | USD | 2901795 | HSBC | 2905508 | 12/2/25 | (3713) |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 2769178 | USD | 1789282 | WFB | 1813704 | 1/14/26 | (24422) |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 2276302 | USD | 1487832 | WFB | 1490890 | 1/14/26 | (3058) |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 3083370 | USD | 2035632 | WFB | 2018836 | 12/2/25 | 16796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 1100000 | USD | 192778 | BNP | 200535 | 4/2/26 | (7757) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 600000 | USD | 103704 | BNP | 109383 | 4/2/26 | (5679) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 1000000 | USD | 177588 | BNP | 182304 | 4/2/26 | (4716) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 600000 | USD | 104776 | BNP | 109383 | 4/2/26 | (4607) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 786981 | USD | 145000 | BNP | 147478 | 12/2/25 | (2478) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 1296112 | USD | 240000 | BOA | 242888 | 12/2/25 | (2888) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 920 | USD | 173 | BOA | 173 | 12/2/25 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 17840020 | USD | 3287271 | GSC | 3343175 | 12/2/25 | (55904) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 2600000 | USD | 449415 | GSC | 473991 | 4/2/26 | (24576) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 2600000 | USD | 450890 | GSC | 473991 | 4/2/26 | (23101) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 1900000 | USD | 332325 | GSC | 346379 | 4/2/26 | (14054) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 5600000 | USD | 1007792 | GSC | 1020904 | 4/2/26 | (13112) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 3300000 | USD | 593035 | GSC | 601605 | 4/2/26 | (8570) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 1177300 | USD | 212000 | GSC | 220106 | 12/12/25 | (8106) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 700000 | USD | 125565 | GSC | 127613 | 4/2/26 | (2048) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 497221 | USD | 92283 | GSC | 93178 | 12/2/25 | (895) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 661069 | USD | 123940 | SCB | 123883 | 12/2/25 | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 17867708 | USD | 3349902 | SOG | 3348364 | 12/2/25 | 1538 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 381000 | USD | 500335 | BCLY | 504159 | 12/2/25 | (3824) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 1124000 | USD | 1481397 | BNP | 1487333 | 12/2/25 | (5936) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 2060000 | USD | 2724225 | BNP | 2725896 | 12/2/25 | (1671) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 148000 | USD | 194812 | BOA | 195841 | 12/2/25 | (1029) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 3048616 | USD | 4039157 | DUB | 4034076 | 1/14/26 | 5081 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 6526189 | USD | 8620763 | SCB | 8635781 | 12/2/25 | (15018) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 135384 | USD | 179163 | UBS | 179147 | 1/14/26 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 6637189 | USD | 8715990 | WFB | 8782650 | 1/14/26 | (66660) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 119000 | USD | 84879 | BOA | 85119 | 12/2/25 | (240) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 4802532 | USD | 3412276 | HSBC | 3443019 | 1/14/26 | (30743) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 4960062 | USD | 3550904 | SCB | 3547843 | 12/2/25 | 3061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 6574000 | USD | 927786 | BOA | 931102 | 12/19/25 | (3316) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 9225934 | USD | 1298321 | DUB | 1306707 | 12/19/25 | (8386) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 4852000 | USD | 683054 | DUB | 687208 | 12/19/25 | (4154) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 4977000 | USD | 701085 | HSBC | 704913 | 12/19/25 | (3828) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 3418 | USD | 482 | HSBC | 484 | 12/19/25 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 7919868 | USD | 1113730 | JPM | 1121723 | 12/19/25 | (7993) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 8165441 | USD | 1149015 | JPM | 1156505 | 12/19/25 | (7490) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 6548000 | USD | 926613 | JPM | 927420 | 12/19/25 | (807) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 17696865 | USD | 2490685 | SCB | 2506479 | 12/19/25 | (15794) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 15508147 | USD | 2183139 | SCB | 2196482 | 12/19/25 | (13343) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 4519000 | USD | 637925 | SCB | 640045 | 12/19/25 | (2120) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 736528 | USD | 104000 | SCB | 104484 | 1/12/26 | (484) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 339504 | USD | 48000 | SCB | 48208 | 1/29/26 | (208) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Sell: (continued)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 10070997 | USD | 1417267 | WFB | $1426397 | 12/19/25 | $(9130) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 8980555 | USD | 1263678 | WFB | 1271953 | 12/19/25 | (8275) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Onshore Renminbi | 2463637 | USD | 348562 | JPM | 348239 | 12/4/25 | 323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Czech Koruna | 2183953 | EUR | 89000 | BNP | 104931 | 3/13/26 | (1188) |
| &nbsp;&nbsp;&nbsp;&nbsp; Czech Koruna | 1198038 | EUR | 49000 | BOA | 57562 | 3/13/26 | (445) |
| &nbsp;&nbsp;&nbsp;&nbsp; Danish Krone | 6632670 | USD | 1026362 | BCLY | 1029901 | 12/2/25 | (3539) |
| &nbsp;&nbsp;&nbsp;&nbsp; Danish Krone | 7230000 | USD | 1034163 | HSBC | 1130877 | 4/1/26 | (96714) |
| &nbsp;&nbsp;&nbsp;&nbsp; Egyptian Pound | 963680 | USD | 20233 | DUB | 20224 | 12/2/25 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 666000 | USD | 768150 | BCLY | 772327 | 12/2/25 | (4177) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 119457 | RON | 614325 | BCLY | 138918 | 1/22/26 | 607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 17173 | RON | 88125 | BNP | 19990 | 2/10/26 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 31505 | RON | 161583 | BNP | 36663 | 2/5/26 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 609000 | USD | 702349 | BOA | 706227 | 12/2/25 | (3878) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 138000 | CZK | 3384450 | BOA | 160861 | 3/13/26 | 1751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 153796 | RON | 789050 | DUB | 179017 | 2/10/26 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 121629 | RON | 622923 | DUB | 141348 | 1/9/26 | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 98122 | RON | 503060 | GSC | 114137 | 1/27/26 | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 179000 | RON | 920812 | GSC | 208162 | 1/22/26 | 972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 24528994 | USD | 28398688 | SOG | 28513267 | 1/14/26 | (114579) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 85495 | RON | 438777 | SOG | 99493 | 2/5/26 | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 140708 | RON | 721530 | SOG | 163563 | 1/14/26 | 380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 284701 | RON | 1458908 | SOG | 330859 | 1/9/26 | 716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 117000 | RON | 599069 | SOG | 135701 | 12/5/25 | 725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 281416 | RON | 1443031 | SOG | 327126 | 1/14/26 | 753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 439000 | USD | 510841 | SOG | 509087 | 12/2/25 | 1754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 23049994 | USD | 26918546 | WFB | 26729930 | 12/2/25 | 188616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong Dollar | 774930 | USD | 100000 | HSBC | 99793 | 3/2/26 | 207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong Dollar | 6144957 | USD | 793000 | JPM | 791326 | 3/2/26 | 1674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hungarian Forint | 26204000 | USD | 78418 | JPM | 79593 | 12/17/25 | (1175) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 8842343 | USD | 99325 | JPM | 98613 | 1/30/26 | 712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1015357692 | USD | 60598 | BCLY | 60957 | 12/17/25 | (359) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1814267969 | USD | 109144 | BOA | 108919 | 12/17/25 | 225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 3150781355 | USD | 188365 | DUB | 189156 | 12/17/25 | (791) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 959756504 | USD | 57778 | GSC | 57618 | 12/17/25 | 160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1340469137 | USD | 80662 | GSC | 80474 | 12/17/25 | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 3220994348 | USD | 193765 | GSC | 193371 | 12/17/25 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 934369940 | USD | 56120 | JPM | 56095 | 12/17/25 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 691171826 | USD | 41553 | SCB | 41494 | 12/17/25 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 391869 | USD | 119774 | BCLY | 120336 | 1/15/26 | (562) |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 341000 | USD | 104598 | GSC | 104715 | 1/15/26 | (117) |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 491000 | USD | 150824 | GSC | 150777 | 1/15/26 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 167650 | USD | 51890 | GSC | 51483 | 1/15/26 | 407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 360922 | USD | 110121 | JPM | 110833 | 1/15/26 | (712) |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 273694 | USD | 83971 | JPM | 84047 | 1/15/26 | (76) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 339810440 | USD | 2239187 | BOA | 2175344 | 12/2/25 | 63843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 50000000 | USD | 371443 | GSC | 321321 | 1/5/26 | 50122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 184867679 | USD | 1186879 | HSBC | 1188939 | 1/14/26 | (2060) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 51311025 | USD | 329670 | HSBC | 329996 | 1/14/26 | (326) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 60000000 | USD | 437801 | JPM | 385585 | 1/5/26 | 52216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 193824531 | USD | 1243112 | SCB | 1246543 | 1/14/26 | (3431) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 334367502 | USD | 2150413 | SCB | 2150417 | 1/14/26 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 1327740328 | USD | 8489448 | SOG | 8539093 | 1/14/26 | (49645) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 1125654616 | USD | 7385027 | SOG | 7206034 | 12/2/25 | 178993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 710522480 | USD | 4692138 | WFB | 4548508 | 12/2/25 | 143630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 42287016 | USD | 28915 | BOA | 28864 | 1/8/26 | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 56799704 | USD | 39184 | BOA | 38770 | 1/8/26 | 414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 203985600 | USD | 140100 | BOA | 139471 | 2/13/26 | 629 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 100809408 | USD | 68865 | DUB | 68809 | 1/8/26 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 160077246 | USD | 109415 | SOG | 109263 | 1/8/26 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysian Ringgit | 3913070 | USD | 930952 | BCLY | 947418 | 12/17/25 | (16466) |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysian Ringgit | 3981365 | USD | 950093 | BCLY | 963953 | 12/17/25 | (13860) |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysian Ringgit | 2451309 | USD | 583645 | BCLY | 593502 | 12/17/25 | (9857) |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysian Ringgit | 4583463 | USD | 1092341 | GSC | 1109731 | 12/17/25 | (17390) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Sell: (continued)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysian Ringgit | 401712 | USD | 96000 | GSC | $97261 | 12/17/25 | $(1261) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 187000 | USD | 9850 | GSC | 10197 | 12/17/25 | (347) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 115359 | USD | 6156 | SOG | 6230 | 3/18/26 | (74) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 311 | USD | 17 | SOG | 17 | 12/17/25 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 33183039 | USD | 1797272 | WFB | 1809305 | 12/17/25 | (12033) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 2873793 | USD | 93000 | BNP | 91906 | 1/22/26 | 1094 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 3212664 | USD | 106046 | BNP | 102743 | 1/22/26 | 3303 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 3694542 | USD | 121611 | BNP | 118154 | 1/22/26 | 3457 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 2435150 | USD | 81142 | BNP | 77670 | 12/15/25 | 3472 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 5935757 | USD | 194411 | BNP | 189830 | 1/22/26 | 4581 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 4249067 | USD | 140805 | BNP | 135889 | 1/22/26 | 4916 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 5690239 | USD | 187580 | BNP | 181978 | 1/22/26 | 5602 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 9354516 | USD | 305653 | BNP | 299164 | 1/22/26 | 6489 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 6420691 | USD | 212093 | BNP | 205339 | 1/22/26 | 6754 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 12051868 | USD | 395208 | BOA | 385428 | 1/22/26 | 9780 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 12700650 | USD | 417922 | BOA | 405090 | 12/15/25 | 12832 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 3822288 | USD | 125000 | HSBC | 122240 | 1/22/26 | 2760 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 13048256 | USD | 428261 | SCB | 417293 | 1/22/26 | 10968 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 216408 | USD | 122746 | BNP | 124110 | 12/2/25 | (1364) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 410000 | USD | 229840 | GSC | 235135 | 12/2/25 | (5295) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 214000 | USD | 120605 | HSBC | 122729 | 12/2/25 | (2124) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 127000 | USD | 71998 | JPM | 72834 | 12/2/25 | (836) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 108000 | USD | 61672 | JPM | 61938 | 12/2/25 | (266) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 67000 | USD | 37562 | UBS | 38424 | 12/2/25 | (862) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 355793 | USD | 200062 | WFB | 204047 | 12/2/25 | (3985) |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Krone | 282923 | USD | 27663 | JPM | 27942 | 1/14/26 | (279) |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Krone | 283571 | USD | 28087 | WFB | 28009 | 12/2/25 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 304801 | USD | 90000 | BNP | 90657 | 12/17/25 | (657) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 4281963 | USD | 1270235 | BOA | 1270926 | 3/18/26 | (691) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 475847 | USD | 141000 | DUB | 141531 | 12/17/25 | (531) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 761097 | USD | 217135 | GSC | 226373 | 12/17/25 | (9238) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 112451 | USD | 33142 | JPM | 33411 | 1/21/26 | (269) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 389103 | USD | 108922 | SCB | 115730 | 12/17/25 | (6808) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 455747 | USD | 134000 | SCB | 135553 | 12/17/25 | (1553) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 675771 | USD | 193653 | SOG | 200585 | 4/6/26 | (6932) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 757214 | USD | 219457 | SOG | 224748 | 3/18/26 | (5291) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 1887747 | USD | 533820 | WFB | 561472 | 12/17/25 | (27652) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 1547312 | USD | 454797 | WFB | 459595 | 1/30/26 | (4798) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 402077 | USD | 110148 | BCLY | 110049 | 1/16/26 | 99 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 401071 | USD | 109673 | BOA | 109774 | 1/16/26 | (101) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 808000 | USD | 220063 | HSBC | 221151 | 1/16/26 | (1088) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 542000 | USD | 147748 | HSBC | 148347 | 1/16/26 | (599) |
| &nbsp;&nbsp;&nbsp;&nbsp; Romanian New Leu | 160518 | EUR | 31505 | BNP | 36555 | 12/5/25 | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp; Romanian New Leu | 435939 | EUR | 85495 | SOG | 99276 | 12/5/25 | (116) |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 7335563 | USD | 5678884 | BOA | 5660593 | 12/2/25 | 18291 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 7309777 | USD | 5633640 | HSBC | 5659462 | 1/14/26 | (25822) |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 280048 | USD | 215505 | SOG | 216104 | 12/2/25 | (599) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 5064982 | USD | 292400 | BCLY | 294758 | 1/26/26 | (2358) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 9026224 | USD | 518031 | DUB | 525283 | 1/26/26 | (7252) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 4654128 | USD | 269956 | GSC | 270848 | 1/26/26 | (892) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 7878453 | USD | 460326 | GSC | 460384 | 12/4/25 | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 8194458 | USD | 477616 | HSBC | 478849 | 12/4/25 | (1233) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 8357100 | USD | 486302 | JPM | 488353 | 12/4/25 | (2051) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 10985109 | USD | 638775 | SOG | 641923 | 12/4/25 | (3148) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 8841784 | USD | 508391 | UBS | 514549 | 1/26/26 | (6158) |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 6258952 | USD | 363992 | WFB | 364241 | 1/26/26 | (249) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 49000 | USD | 60780 | BNP | 60976 | 12/2/25 | (196) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 118000 | USD | 147367 | BNP | 146839 | 12/2/25 | 528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 177000 | USD | 219805 | BOA | 220259 | 12/2/25 | (454) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 102416 | USD | 127098 | GSC | 127446 | 12/2/25 | (348) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 48000 | USD | 59579 | JPM | 59731 | 12/2/25 | (152) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 40000 | USD | 50147 | JPM | 49776 | 12/2/25 | 371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 47924 | USD | 59691 | UBS | 59961 | 1/14/26 | (270) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Sell: (continued)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 48497 | USD | 60478 | WFB | $&nbsp;&nbsp;&nbsp;&nbsp;60678 | 1/14/26 | $(200) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 313 | USD | 10 | BNP | 10 | 12/8/25 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 1297006 | USD | 40050 | BOA | 40493 | 1/21/26 | (443) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 2936503 | USD | 90880 | HSBC | 91460 | 12/8/25 | (580) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 1147423 | USD | 35425 | HSBC | 35823 | 1/21/26 | (398) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 506140 | USD | 15625 | HSBC | 15802 | 1/21/26 | (177) |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 2963864 | USD | 68040 | BCLY | 69736 | 12/2/25 | (1696) |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 1538460 | USD | 33000 | GSC | 35908 | 12/12/25 | (2908) |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 985950 | USD | 21000 | UBS | 22915 | 12/17/25 | (1915) |
|  |  |  |  |  |  |  | (115194) |
|  Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts |  |  | $464086 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following OTC Total Return Swap Contract:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Pay**<br> **Floating Rate Index** | **Fund Receive**<br> **Floating Rate Index** | **Financing**<br> **Rate** | **Payment**<br> **Frequency** | **Maturity**<br> **Date** | **Counterparty** | **Notional**<br> **Amount** | **Notional**<br> **Amount** | **Value** | **Upfront**<br> **Payment**<br> **Paid** | **Unrealized**<br> **Depreciation** |
|  iBoxx Investment Grade Index | SOFR | 3.244% | PAM | 12/22/25 | BNP | USD | 7800000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(442845) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77175 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(520020) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following OTC Interest Rate Swap Contracts:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed<br>Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Counterparty** | **Notional<br>Amount** | **Value** | **Upfront<br>Payment<br>Paid/<br>(Received)** | **Unrealized<br>Depreciation** |
|  Pay | China 7-Day Reverse Repo Index | 1.500% | 3/18/31 | 3-Month | SCB | CNY 67,000,000 | $(45376) | $30955 | $(76331) |
|  Pay | China 7-Day Reverse Repo Index | 1.500% | 3/18/31 | 3-Month | BNP | CNY 69,100,000 | (46799) | (16516) | (30283) |
|  |  |  |  |  |  |  | $(92175) | $14439 | $(106614) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following Centrally Cleared Interest Rate Swap Contracts:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed<br>Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Notional<br>Amount** | **Notional<br>Amount** | **Value** | **Upfront<br>Payment<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  Receive | 3-Month FRA New Zealand Bank Bill | 2.500% | 3/12/28 | 6-Month | NZD | 3300000 | $18276 | $1133 | $17143 |
|  Receive | 3-Month FRA New Zealand Bank Bill | 3.500% | 3/18/31 | 6-Month | NZD | 6800000 | 3396 | (43876) | 47272 |
|  Pay | 3-Month Stockholm Interbank Offered Rate | 2.474% | 2/3/30 | 12-Month | SEK | 4400000 | 9658 |  | 9658 |
|  Pay | 6-Month Australian Bank Bill | 3.500% | 3/18/31 | 6-Month | AUD | 23800000 | (556296) | (353882) | (202414) |
|  Pay | 6-Month Australian Bank Bill | 4.250% | 3/19/35 | 6-Month | AUD | 1200000 | (16509) | (545) | (15964) |
|  Pay | 6-Month Australian Bank Bill | 4.250% | 9/17/35 | 6-Month | AUD | 2100000 | (33213) | 11877 | (45090) |
|  Pay | 6-Month Australian Bank Bill | 4.250% | 3/18/36 | 6-Month | AUD | 1100000 | (21723) | 2357 | (24080) |
|  Pay | 6-Month Australian Bank Bill | 4.500% | 3/19/35 | 6-Month | AUD | 4500000 | (3725) | (13988) | 10263 |
|  Pay | 6-Month Australian Bank Bill | 4.500% | 6/18/35 | 6-Month | AUD | 500000 | (635) | 2896 | (3531) |
|  Pay | 6-Month Australian Bank Bill | 4.500% | 9/17/35 | 6-Month | AUD | 1600000 | (3745) | 26446 | (30191) |
|  Pay | 6-Month EURIBOR | 0.451% | 5/27/50 | 12-Month | EUR | 150000 | (80017) |  | (80017) |
|  Pay | 6-Month EURIBOR | 0.650% | 4/12/27 | 12-Month | EUR | 500000 | (10868) |  | (10868) |
|  Pay | 6-Month EURIBOR | 0.650% | 5/11/27 | 12-Month | EUR | 300000 | (6545) |  | (6545) |
|  Pay | 6-Month EURIBOR | 0.700% | 4/11/27 | 12-Month | EUR | 200000 | (4105) |  | (4105) |
|  Pay | 6-Month EURIBOR | 1.000% | 5/13/27 | 12-Month | EUR | 500000 | (6897) |  | (6897) |
|  Pay | 6-Month EURIBOR | 2.000% | 3/18/28 | 12-Month | EUR | 1100000 | (5050) | (4947) | (103) |
|  Pay | 6-Month EURIBOR | 2.250% | 9/21/42 | 12-Month | EUR | 2310000 | (275189) | 176898 | (452087) |
|  Pay | 6-Month EURIBOR | 2.500% | 3/18/31 | 12-Month | EUR | 13400000 | 32814 | 25472 | 7342 |
|  Pay | 6-Month EURIBOR | 2.750% | 3/18/36 | 12-Month | EUR | 2470000 | (9922) | (6139) | (3783) |
|  Pay | 6-Month EURIBOR | 3.000% | 3/19/27 | 12-Month | EUR | 7050000 | 228727 | 47415 | 181312 |
|  Pay | 6-Month EURIBOR | 3.000% | 3/18/56 | 12-Month | EUR | 2860000 | (61410) | 27006 | (88416) |
|  Receive | 6-Month EURIBOR | 2.213% | 3/12/55 | 12-Month | EUR | 3500000 | 339526 | 71486 | 268040 |
|  Pay | Bank of Japan Uncollateralised Overnight Call Rate | 1.250% | 9/17/35 | 12-Month | JPY | 719400000 | (141218) | (37856) | (103362) |
|  Pay | Bank of Japan Uncollateralised Overnight Call Rate | 1.500% | 12/17/35 | 12-Month | JPY | 60000000 | (4588) | (368) | (4220) |
|  Receive | Bank of Japan Uncollateralised Overnight Call Rate | 2.250% | 9/17/55 | 12-Month | JPY | 38800000 | 21487 | 8255 | 13232 |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 0.000% | 3/17/31 | 6-Month | JPY | 130000000 | (57926) | (4651) | (53275) |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 0.050% | 12/15/31 | 12-Month | JPY | 490000000 | (245570) | (164853) | (80717) |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 0.250% | 3/15/32 | 12-Month | JPY | 50000000 | (21784) | (1479) | (20305) |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 0.750% | 3/19/27 | 12-Month | JPY | 570000000 | 3141 | 628 | 2513 |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 0.850% | 9/20/33 | 12-Month | JPY | 68100000 | (19357) | (4741) | (14616) |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 1.000% | 3/19/32 | 12-Month | JPY | 860000000 | (97040) | (15354) | (81686) |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 1.000% | 9/18/34 | 12-Month | JPY | 90000000 | (24648) | (2958) | (21690) |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 1.000% | 3/19/35 | 12-Month | JPY | 800000000 | (233317) | (65211) | (168106) |
|  Pay | Bank of Japan Uncollateralized Overnight Call Rate | 1.000% | 6/19/44 | 12-Month | JPY | 230000000 | (284667) | (92913) | (191754) |
|  Receive | Bank of Japan Uncollateralized Overnight Call Rate | 0.400% | 6/19/39 | 6-Month | JPY | 80000000 | 96625 | (20457) | 117082 |
|  Pay | Canadian Overnight Repo Rate Average | 1.713% | 10/2/29 | 6-Month | CAD | 400000 | (8098) | (29897) | 21799 |
|  Pay | Canadian Overnight Repo Rate Average | 2.850% | 9/1/29 | 6-Month | CAD | 1000000 | 10857 | (2988) | 13845 |
|  Pay | Canadian Overnight Repo Rate Average | 3.250% | 6/21/53 | 6-Month | CAD | 200000 | (161) | (10586) | 10425 |
|  Pay | Canadian Overnight Repo Rate Average | 3.898% | 6/19/26 | PAM | CAD | 2500000 | 26380 | (3864) | 30244 |
|  Pay | Canadian Overnight Repo Rate Average | 3.925% | 6/19/26 | PAM | CAD | 4300000 | 46216 | (371) | 46587 |
|  Receive | Canadian Overnight Repo Rate Average | 2.850% | 6/1/33 | 6-Month | CAD | 300000 | (1825) | 2521 | (4346) |
|  Receive | Canadian Overnight Repo Rate Average | 2.880% | 9/1/33 | 6-Month | CAD | 400000 | (2696) |  | (2696) |
|  Receive | Canadian Overnight Repo Rate Average | 3.000% | 6/1/33 | 6-Month | CAD | 200000 | (2785) | 723 | (3508) |
|  Receive | Canadian Overnight Repo Rate Average | 3.000% | 6/1/34 | 6-Month | CAD | 700000 | (8018) | 98 | (8116) |
|  Receive | Canadian Overnight Repo Rate Average | 3.180% | 6/1/33 | 6-Month | CAD | 1500000 | (34980) | (1311) | (33669) |
|  Receive | Canadian Overnight Repo Rate Average | 3.250% | 12/20/33 | 6-Month | CAD | 2500000 | (65730) | 144403 | (210133) |
|  Receive | Canadian Overnight Repo Rate Average | 3.250% | 12/18/34 | 6-Month | CAD | 200000 | (4987) | (4815) | (172) |
|  Receive | Canadian Overnight Repo Rate Average | 3.750% | 12/20/33 | 6-Month | CAD | 500000 | (26885) | (2465) | (24420) |
|  Pay | Euro Short-Term Rate Market Index | 1.795% | 10/11/29 | 12-Month | EUR | 2700000 | (33769) |  | (33769) |
|  Pay | Euro Short-Term Rate Market Index | 1.923% | 10/11/29 | 12-Month | EUR | 1800000 | (12231) |  | (12231) |
|  Receive | Financial Benchmarks India Overnight Mumbai Interbank Outright Rate | 5.750% | 3/18/31 | 6-Month | INR | 27730000 | (218) | (36) | (182) |
|  Pay | Singapore Overnight Rate Average | 1.750% | 3/18/31 | 6-Month | SGD | 1700000 | (5091) | 1243 | (6334) |
|  Receive | Singapore Overnight Rate Average | 1.250% | 12/17/26 | 6-Month | SGD | 7500000 | 5268 | 3292 | 1976 |
|  Receive | Singapore Overnight Rate Average | 1.300% | 12/17/26 | 6-Month | SGD | 4800000 | 1539 | 2623 | (1084) |
|  Receive | Singapore Overnight Rate Average | 1.500% | 9/17/30 | 6-Month | SGD | 10900000 | 95146 | (40399) | 135545 |
|  Pay | SOFR | 3.460% | 6/30/27 | 12-Month | USD | 7100000 | (1665) |  | (1665) |
|  Pay | SOFR | 3.750% | 9/17/27 | 12-Month | USD | 9500000 | 62648 | 53202 | 9446 |
|  Pay | SOFR | 3.981% | 11/30/27 | 12-Month | USD | 3700000 | 33607 |  | 33607 |
|  Receive | SOFR | 1.000% | 12/15/26 | 12-Month | USD | 1000000 | 58517 | 3719 | 54798 |
|  Receive | SOFR | 2.965% | 11/30/26 | 12-Month | USD | 6600000 | 131736 | (3697) | 135433 |
|  Receive | SOFR | 3.000% | 3/19/27 | 12-Month | USD | 12760000 | 191508 | 261813 | (70305) |
|  Receive | SOFR | 3.250% | 6/18/27 | 12-Month | USD | 2200000 | 14551 | 16095 | (1544) |
|  Receive | SOFR | 3.250% | 12/20/53 | 12-Month | USD | 100000 | 13468 | 11616 | 1852 |
|  Receive | SOFR | 3.250% | 3/19/55 | 12-Month | USD | 400000 | 53236 | 47355 | 5881 |
|  Receive | SOFR | 3.300% | 2/28/30 | 12-Month | USD | 7308000 | (7496) | (10794) | 3298 |
|  Receive | SOFR | 3.325% | 2/28/30 | 12-Month | USD | 4768500 | (9606) | (28965) | 19359 |
|  Receive | SOFR | 3.500% | 12/20/38 | 12-Month | USD | 3200000 | 120704 | 50178 | 70526 |
|  Receive | SOFR | 3.595% | 8/19/34 | 12-Month | USD | 400000 | (1016) |  | (1016) |
|  Receive | SOFR | 3.613% | 8/22/34 | 12-Month | USD | 300000 | (1201) |  | (1201) |
|  Receive | SOFR | 3.645% | 8/7/34 | 12-Month | USD | 700000 | (4435) |  | (4435) |
|  Receive | SOFR | 3.700% | 5/15/35 | 12-Month | USD | 681000 | (6785) | (12051) | 5266 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed<br>Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Notional<br>Amount** | **Notional<br>Amount** | **Value** | **Upfront<br>Payment<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  Receive | SOFR | 3.750% | 12/17/30 | 12-Month | USD | 4800000 | $(97725) | $(94486) | $(3239) |
|  Receive | SOFR | 3.750% | 5/15/32 | 12-Month | USD | 1503000 | (29433) | (1427) | (28006) |
|  Receive | SOFR | 3.750% | 12/17/35 | 12-Month | USD | 7760000 | (88796) | (55462) | (33334) |
|  Receive | SOFR | 3.771% | 2/15/55 | 12-Month | USD | 100000 | 3872 |  | 3872 |
|  Receive | SOFR | 3.773% | 3/4/55 | 12-Month | USD | 400000 | 15474 |  | 15474 |
|  Receive | SOFR | 3.806% | 2/15/55 | 12-Month | USD | 200000 | 6525 |  | 6525 |
|  Receive | SOFR | 3.836% | 5/15/34 | 12-Month | USD | 500000 | (10263) |  | (10263) |
|  Receive | SOFR | 3.847% | 5/15/34 | 12-Month | USD | 300000 | (6413) |  | (6413) |
|  Receive | SOFR | 3.851% | 2/28/29 | 12-Month | USD | 1100000 | (15962) |  | (15962) |
|  Receive | SOFR | 3.862% | 2/28/29 | 12-Month | USD | 1600000 | (23875) |  | (23875) |
|  Receive | SOFR | 3.884% | 3/25/35 | 12-Month | USD | 500000 | (10741) |  | (10741) |
|  Receive | SOFR | 3.905% | 8/15/26 | PAM | USD | 1800000 | (1370) |  | (1370) |
|  Receive | SOFR | 3.905% | 3/12/35 | 12-Month | USD | 200000 | (4644) |  | (4644) |
|  Receive | SOFR | 3.908% | 3/4/35 | 12-Month | USD | 400000 | (9345) |  | (9345) |
|  Receive | SOFR | 3.930% | 3/24/35 | 12-Month | USD | 300000 | (7634) |  | (7634) |
|  Receive | SOFR | 3.930% | 6/25/55 | 12-Month | USD | 345000 | 2836 | 1280 | 1556 |
|  Receive | SOFR | 3.954% | 11/15/54 | 12-Month | USD | 200000 | 590 |  | 590 |
|  Receive | SOFR | 3.959% | 11/15/54 | 12-Month | USD | 400000 | 859 |  | 859 |
|  Receive | SOFR | 3.960% | 6/27/55 | 12-Month | USD | 405000 | 1136 | (236) | 1372 |
|  Receive | SOFR | 3.964% | 11/15/54 | 12-Month | USD | 300000 | 383 |  | 383 |
|  Receive | SOFR | 3.998% | 11/15/54 | 12-Month | USD | 400000 | (1838) |  | (1838) |
|  Receive | SOFR | 4.000% | 6/20/26 | 12-Month | USD | 3600000 | (196) | (10341) | 10145 |
|  Receive | SOFR | 4.005% | 9/29/55 | 12-Month | USD | 124000 | (836) | (1392) | 556 |
|  Receive | SOFR | 4.020% | 5/15/26 | PAM | USD | 2500000 | 1427 |  | 1427 |
|  Receive | SOFR | 4.065% | 6/26/55 | 12-Month | USD | 213000 | (3410) | (3715) | 305 |
|  Receive | SOFR | 4.111% | 11/15/54 | 12-Month | USD | 640000 | (15515) |  | (15515) |
|  Receive | SOFR | 4.130% | 11/15/54 | 12-Month | USD | 560000 | (15373) |  | (15373) |
|  Receive | SOFR | 4.250% | 12/20/25 | 12-Month | USD | 27709000 | 30981 | 143567 | (112586) |
|  Pay | South Korean Won Certificate of Deposit | 2.750% | 3/18/36 | 3-Month | KRW | 29660000 | (876) | 210 | (1086) |
|  Pay | Sterling Overnight Index Average | 3.000% | 6/17/27 | 12-Month | GBP | 5100000 | (86968) | (11885) | (75083) |
|  Pay | Sterling Overnight Index Average | 3.750% | 9/17/30 | 12-Month | GBP | 200000 | 1343 | (1013) | 2356 |
|  Pay | Sterling Overnight Index Average | 3.750% | 3/18/31 | 12-Month | GBP | 9200000 | 62028 | (82297) | 144325 |
|  Pay | Sterling Overnight Index Average | 4.000% | 3/17/28 | 12-Month | GBP | 11200000 | 149520 | 34710 | 114810 |
|  Receive | Sterling Overnight Index Average | 3.500% | 9/17/27 | 12-Month | GBP | 3400000 | 6104 | 22573 | (16469) |
|  Receive | Sterling Overnight Index Average | 4.000% | 9/17/35 | 12-Month | GBP | 1400000 | (8137) | 29328 | (37465) |
|  Receive | Sterling Overnight Index Average | 4.000% | 3/18/36 | 12-Month | GBP | 4100000 | (7950) | (14044) | 6094 |
|  Receive | Sterling Overnight Index Average | 4.500% | 9/17/55 | 12-Month | GBP | 550000 | (9612) | 25353 | (34965) |
|  Receive | Sterling Overnight Index Average | 4.500% | 3/18/56 | 12-Month | GBP | 700000 | (9813) | 11306 | (21119) |
|  Pay | Swiss Average Rate Overnight Index | 0.300% | 2/15/27 | 12-Month | CHF | 200000 | 1599 |  | 1599 |
|  |  |  |  |  |  |  | $(1028659) | $6322 | $(1034981) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following OTC and Centrally Cleared Credit Default Swap Contracts:

**OTC Credit Default Swaps on Sovereign Issues - Buy Protection (1)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation<br>& Ratings†** | **Fixed Deal<br>(Pay) Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Counterparty** | **Implied Credit<br>Spread at<br>11/30/25 (2)** | **Notional<br>Amount (3)** | **Notional<br>Amount (3)** | **Value** | **Upfront<br>Payment<br>(Received)** | **Unrealized<br>Depreciation** |
|  Indonesia Government International Bonds, BBB | (1.000)% | 6/20/26 | 3-Month | JPM | 0.227% | USD | 3600000 | $(22508) | $(15332) | $(7176) |
|  South Korea Government Bonds, AA | (1.000)% | 12/20/30 | 3-Month | GSC | 0.231% | USD | 600000 | (22728) | (21671) | (1057) |
|  |  |  |  |  |  |  |  | $(45236) | $(37003) | $(8233) |

---

† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.

**OTC Credit Default Swaps on Indexes and Corporate Issue - Sell Protection (4)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation<br>& Ratings** | **Fixed<br>Deal<br>Receive<br>Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Counterparty** | **Implied Credit<br>Spread at<br>11/30/25 (2)** | **Notional<br>Amount (3)** | **Value** | **Upfront<br>Payment<br>Paid** | **Unrealized<br>Appreciation** |
|  Markit iTraxx Europe Crossover Series 44 5-Year Index, NR | 5.000% | 12/20/30 | 3-Month | BNP | 0.646% | EUR 100,000 | $24260 | $23028 | $1232 |
|  Markit iTraxx Europe Crossover Series 44 5-Year Index, NR | 5.000% | 12/20/30 | 3-Month | JPM | 0.646% | EUR 500,000 | 121299 | 114033 | 7266 |
|  Petroleos Mexicanos, NR | 4.750% | 7/6/26 | 1-Month | DUB | N/A(a) | USD 329,420 | 3076 |  | 3076 |
|  |  |  |  |  |  |  | $148635 | $137061 | $11574 |

---

(a) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

**Centrally Cleared - Credit Default Swap on Index - Buy Protection (1)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation & Rating** | **Fixed Deal<br>(Pay) Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Implied Credit<br>Spread at<br>11/30/25 (2)** | **Notional<br>Amount (3)** | **Market <br>Value** | **Upfront<br>Payment<br>(Received)** | **Unrealized<br>Depreciation** |
|  Markit CDX North America Investment Grade Series 45 10-Year Index, NR | (1.000)% | 12/20/35 | 3-Month | 0.905% | USD 2,400,000 | $(22997) | $(18145) | $(4852) |

---

**Centrally Cleared - Credit Default Swaps on Financial Institution and Indexes - Sell Protection (4)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation & Ratings†** | **Fixed Deal<br>Receive Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Implied Credit<br>Spread at<br>11/30/25 (2)** | **Notional <br>Amount (3)** | **Value** | **Upfront<br>Payment<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation** |
|  Deutsche Bank AG, A | 1.000% | 12/20/32 | 3-Month | 1.060% | EUR 400,000 | $(865) | $(3105) | $2240 |
|  Markit CDX North America Investment Grade Series 45 5-Year Index, NR | 1.000% | 12/20/30 | 3-Month | 0.512% | USD 1,700,000 | 41519 | 37442 | 4077 |
|  Markit CDX North America Investment Grade Series 43 5-Year Index, NR | 1.000% | 12/20/29 | 3-Month | 0.410% | USD 200,000 | 4870 | 3916 | 954 |
|  |  |  |  |  |  | $45524 | $38253 | $7271 |

---

† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund held the following OTC Cross-Currency Swap Contracts:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty Pay** | **Counterparty Receive** | **Maturity<br>Date (5)** | **Counterparty** | **Notional<br>Amount of<br>Currency<br>Received (6)** | **Notional<br>Amount of<br>Currency<br>Received (6)** | **Notional<br>Amount of<br>Currency<br>Delivered (6)** | **Notional<br>Amount of<br>Currency<br>Delivered (6)** | **Value** | **Upfront<br>Payment<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  Floating rate equal to Sterling Overnight Index Average minus 0.301% based on the notional amount of currency delivered | Floating rate equal to SOFR based on the notional amount of currency received | 10/15/45 | GSC | GBP | 1344000 | USD | 1788000 | $10487 | $(5837) | $16324 |
|  Floating rate equal to Bank of Japan Uncollateralised Overnight Call Rate minus 0.425% based on the notional amount of currency delivered | Floating rate equal to SOFR based on the notional amount of currency received | 9/16/31 | GSC | JPY | 550000000 | USD | 3741497 | 229561 | 3687 | 225874 |
|  Floating rate equal to Bank of Japan Uncollateralised Overnight Call Rate minus 0.420% based on the notional amount of currency delivered | Floating rate equal to SOFR based on the notional amount of currency received | 6/17/27 | GSC | JPY | 2500000000 | USD | 17483740 | 1496645 | 113582 | 1383063 |
|  |  |  |  |  |  |  |  | $1736693 | $111432 | $1625261 |

---

(1) If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular
swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the reference obligation or underlying securities comprising the referenced index or (ii) receive
a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the reference obligation or underlying securities comprising the referenced index.

(2) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit
default swap agreements on corporate issues or sovereign issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit
derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration
of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as ''Defaulted'' indicates
a credit event has occurred for the referenced entity or obligation.

(3) The maximum potential amount the Fund could be required to make as a seller of credit protection or receive as
a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular
swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay
a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(5) At the maturity date, the notional amount of the currency received will be exchanged back for the notional
amount of the currency delivered.

(6) The notional amounts to be received or delivered may be determined and exchanged at a future date, based on the
effective date of the cross-currency swap.

------

**Schedules of Investments** 

(unaudited) (continued)

**International Fixed Income Fund** 

At November 30, 2025, International Fixed Income Fund deposited cash collateral with brokers in the amount of $1,396,000 for open centrally cleared swap contracts.

At November 30, 2025, International Fixed Income Fund had cash collateral from brokers in the amount of $770,000 for open OTC swap contracts.

---

| | |
|:---|:---|
| **<u>Currency abbreviations used in this schedule:</u>** | **<u>Currency abbreviations used in this schedule:</u>** |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CNY | China Yuan Renminbi |
| CZK | Czech Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Sol |
| RON | Romanian Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| USD | United States Dollar |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| **<u>Counterparty abbreviations used in this schedule:</u>** | **<u>Counterparty abbreviations used in this schedule:</u>** |
| BCLY | Barclays Bank PLC |
| BNP | BNP Paribas SA |
| BOA | Bank of America |
| DUB | Deutsche Bank AG |
| GSC | Goldman Sachs & Co. |
| HSBC | HSBC Bank USA |
| JPM | JPMorgan Chase & Co. |
| SCB | Standard Chartered Bank |
| SOG | Societe Generale SA |
| UBS | UBS Securities LLC |
| WFB | Wells Fargo Bank |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Municipal Bond Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount†** | **Rating††** | **Security** | **Value** |
|  **MUNICIPAL BONDS - 87.6%** | **MUNICIPAL BONDS - 87.6%** | **MUNICIPAL BONDS - 87.6%** | **MUNICIPAL BONDS - 87.6%** |
|  **Alabama - 5.8%** | **Alabama - 5.8%** | **Alabama - 5.8%** | **Alabama - 5.8%** |
| $400000 | AAA | Alabama Federal Aid Highway Finance Authority, Revenue Bonds, Series A, 5.000% due 9/1/36 | $466208 |
| 220000 | A1(a) | Black Belt Energy Gas District, Revenue Bonds, Series A, 5.250% due 5/1/55(b) | 241391 |
| 215000 | A2(a) | Energy Southeast A Cooperative District, Revenue Bonds, Series A, 5.000% due 11/1/35 | 232304 |
| 1000000 | Aa3(a) | Southeast Alabama Gas Supply District (The), Revenue Bonds, Series A, 5.000% due 8/1/54(b) | &nbsp;&nbsp;&nbsp;&nbsp;1082195 |
|  |  | Southeast Energy Authority A Cooperative District, Revenue Bonds: |  |
| 965000 | A1(a) | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 5.250% due 1/1/54(b) | 1021112 |
| 500000 | A2(a) | &nbsp;&nbsp;&nbsp;&nbsp; Series B1, 5.000% due 5/1/53(b) | 520213 |
| 1400000 | Aa1(a) | &nbsp;&nbsp;&nbsp;&nbsp; Series C, 5.000% due 2/1/30 | 1491715 |
|  |  | Total Alabama | 5055138 |
|  **Alaska - 0.1%** | **Alaska - 0.1%** | **Alaska - 0.1%** | **Alaska - 0.1%** |
|  |  | Northern Tobacco Securitization Corp., Revenue Bonds: |  |
| 105000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 4.000% due 6/1/50 | 88300 |
| 30000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Series B1, 4.000% due 6/1/50 | 29366 |
|  |  | Total Alaska | 117666 |
|  **Arizona - 1.9%** | **Arizona - 1.9%** | **Arizona - 1.9%** | **Arizona - 1.9%** |
| 1000000 | A+ | City of Mesa, Utility System Revenue, Revenue Bonds, 5.000% due 7/1/40 | 1097322 |
| 465000 | Aa1(a) | Maricopa County & Phoenix Industrial Development Authorities, Revenue Bonds, Series A, 6.500% due 3/1/55 | 518167 |
|  |  | Total Arizona | 1615489 |
|  **California - 9.3%** | **California - 9.3%** | **California - 9.3%** | **California - 9.3%** |
| 650000 | NR | California Infrastructure & Economic Development Bank, Revenue Bonds, AMT, Series B, 12.000% due 1/1/65(b)(c) | 552500 |
|  |  | California School Finance Authority, Revenue Bonds: |  |
| 640000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp; Aspire Public School Obligation Group, 5.000% due 8/1/32(d) | 660933 |
| 250000 | NR | &nbsp;&nbsp;&nbsp;&nbsp; iLead Lancaster Holdings LLC, Series A, 4.000% due 6/1/31(d) | 242755 |
|  |  | California State Public Works Board, Revenue Bonds: |  |
| 1000000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp; Series D, 4.000% due 5/1/47 | 968524 |
| 1000000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp; Series D, 5.000% due 11/1/46 | 1053862 |
|  |  | East Bay Municipal Utility District Water System Revenue, Revenue Bonds: |  |
| 750000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/1/43 | 845788 |
| 755000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/1/44 | 844134 |
| 500000 | AA | Las Virgenes Unified School District, GO, Series B, 5.250% due 8/1/51 | 543849 |
| 1000000 | AA- | Regents of the University of California Medical Center Pooled Revenue, Revenue Bonds, 5.000% due 5/15/47 | 1049406 |
| 1000000 | AA- | San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds, AMT, Series A, 5.500% due 5/1/55(c) | 1076094 |
| 250000 | BBB+ | Tobacco Securitization Authority of Southern California, Revenue Bonds, San Diego County Tobacco Asset Securitization, 5.000% due 6/1/48 | 250512 |
|  |  | Total California | 8088357 |
|  **Colorado - 2.8%** | **Colorado - 2.8%** | **Colorado - 2.8%** | **Colorado - 2.8%** |
| 100000 | AA | Colorado Bridge & Tunnel Enterprise, Revenue Bonds, Series A, 5.000% due 12/1/36 | 115070 |
| 500000 | AA | Colorado Health Facilities Authority, Revenue Bonds, Adventhealth Obligated, Series A, 3.000% due 11/15/51 | 362547 |
| 1000000 | AA+ | Denver City & County School District No 1, GO, Series C, 5.500% due 12/1/47 | 1111275 |
| 500000 | AA | Mesa County Valley School District No 51 Grand Junction, GO, 5.250% due 12/1/43 | 553844 |
| 240000 | Aa1(a) | University of Colorado, Revenue Bonds, Series A, 5.000% due 6/1/36 | 281287 |
|  |  | Total Colorado | 2424023 |
|  **District of Columbia - 1.8%** | **District of Columbia - 1.8%** | **District of Columbia - 1.8%** | **District of Columbia - 1.8%** |
|  |  | District of Columbia Income Tax Revenue, Revenue Bonds: |  |
| 500000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/1/33 | 578305 |
| 500000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/1/43 | 544374 |
| 2075000 | WD(e) | District of Columbia Tobacco Settlement Financing Corp., Revenue Bonds, Capital Appreciation Asset-Backed, Series B, zero coupon due 6/15/46 | 450179 |
|  |  | Total District of Columbia | 1572858 |
|  **Florida - 5.4%** | **Florida - 5.4%** | **Florida - 5.4%** | **Florida - 5.4%** |
| 460000 | NR | Boggy Creek Improvement District, Special Assessment, Series 2013, 5.125% due 5/1/43 | 460045 |
| 1000000 | A | Brevard County Health Facilities Authority, Revenue Bonds, Health First Obligated Group, Series A, 5.000% due 4/1/47 | 1021448 |
| 265000 | AA+ | Broward County, Water & Sewer Utility Revenue, Revenue Bonds, Series A, 4.000% due 10/1/45 | 257683 |
| 2500000 | NR | Capital Trust Agency, Inc., Revenue Bonds, Wonderful Foundations Charter, Series B, zero coupon due 1/1/60 | 223667 |
| 500000 | AA+ | City of Fort Lauderdale, Water & Sewer Revenue, Revenue Bonds, Series A, 5.000% due 9/1/41 | 555182 |
| 800000 | A+ | County of Miami-Dade Aviation Revenue, Revenue Bonds, AMT, Series A, 5.250% due 10/1/50(c) | 832091 |
| 100000 | AA+ | JEA Water & Sewer System Revenue, Revenue Bonds, Series A, 5.250% due 10/1/49 | 106655 |
| 270000 | NR | Lakewood Ranch Stewardship District, Special Assessment, Isles Lakewood Ranch Project, 3.875% due 5/1/29 | 271819 |
| 1000000 | A+ | Orange County Health Facilities Authority, Revenue Bonds, Orlando Health Obligated Group, Series A, 5.000% due 10/1/53 | 1021018 |
|  |  | Total Florida | 4749608 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Municipal Bond Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount†** | **Rating††** | **Security** | **Value** |
|  **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** |
|  **Georgia - 4.4%** | **Georgia - 4.4%** | **Georgia - 4.4%** | **Georgia - 4.4%** |
| $500000 | AA | City of Atlanta, Department of Aviation, Revenue Bonds, AMT, Series B1, 5.250% due 7/1/41(c) | $547432 |
|  |  | Main Street Natural Gas Inc., Revenue Bonds: |  |
| 2500000 | Aa1(a) | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 4.000% due 7/1/52(b) | &nbsp;&nbsp;&nbsp;&nbsp;2528981 |
| 435000 | A3(a) | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 5.000% due 6/1/53(b) | 460415 |
| 315000 | A3(a) | &nbsp;&nbsp;&nbsp;&nbsp; Series C, 4.000% due 12/1/26 | 317179 |
|  |  | Total Georgia | 3854007 |
|  **Idaho - 1.1%** | **Idaho - 1.1%** | **Idaho - 1.1%** | **Idaho - 1.1%** |
| 900000 | A | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System, Series A, 5.000% due 3/1/42 | 980077 |
|  **Illinois - 2.7%** | **Illinois - 2.7%** | **Illinois - 2.7%** | **Illinois - 2.7%** |
| 1000000 | A | Chicago Midway International Airport, Revenue Bonds, AMT, Series C, 5.000% due 1/1/38(c) | 1073208 |
| 300000 | Aa1(a) | Cook County Community Consolidated School District No. 64 Park Ridge-Niles, GO, 5.000% due 12/1/41 | 329230 |
| 500000 | AAA | Illinois Finance Authority, Revenue Bonds, Series A, 5.000% due 7/1/43 | 542594 |
|  |  | State of Illinois, GO: |  |
| 275000 | A- | &nbsp;&nbsp;&nbsp;&nbsp; Series B, 5.250% due 5/1/44 | 291127 |
| 150000 | A- | &nbsp;&nbsp;&nbsp;&nbsp; Series C, 5.000% due 12/1/46 | 153978 |
|  |  | Total Illinois | 2390137 |
|  **Indiana - 3.3%** | **Indiana - 3.3%** | **Indiana - 3.3%** | **Indiana - 3.3%** |
| 650000 | AA | Indiana Municipal Power Agency, Revenue Bonds, Series A, 5.000% due 1/1/43 | 699361 |
|  |  | Indianapolis Local Public Improvement Bond Bank, Revenue Bonds: |  |
| 1000000 | A1(a) | &nbsp;&nbsp;&nbsp;&nbsp; Indianapolis Airport Authority, AMT, 5.000% due 1/1/31(c) | 1091970 |
| 500000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; Series D, 6.000% due 2/1/48 | 559748 |
| 500000 | Aa2(a) | IPS Multi-School Building Corp., Revenue Bonds, 5.000% due 7/15/44 | 530270 |
|  |  | Total Indiana | 2881349 |
|  **Kansas - 0.9%** | **Kansas - 0.9%** | **Kansas - 0.9%** | **Kansas - 0.9%** |
|  |  | Kansas Development Finance Authority, Revenue Bonds: |  |
| 500000 | Aa2(a) | &nbsp;&nbsp;&nbsp;&nbsp; Kansas Athletics Inc., Series C-1, 5.000% due 9/1/44 | 526885 |
| 250000 | Aaa(a) | &nbsp;&nbsp;&nbsp;&nbsp; Series R, 5.000% due 5/1/41 | 274023 |
|  |  | Total Kansas | 800908 |
|  **Kentucky - 1.6%** | **Kentucky - 1.6%** | **Kentucky - 1.6%** | **Kentucky - 1.6%** |
| 230000 | NR | City of Henderson, Revenue Bonds, Pratt Paper LLC Project, AMT, Series A, 4.450% due 1/1/42(c)(d) | 227111 |
| 1020000 | Aa3(a) | Kentucky State Property & Building Commission, Revenue Bonds, Series A, 5.000% due 4/1/41 | 1124955 |
|  |  | Total Kentucky | 1352066 |
|  **Maryland - 1.8%** | **Maryland - 1.8%** | **Maryland - 1.8%** | **Maryland - 1.8%** |
| 135000 | NR | City of Baltimore, Tax Allocation, Harbor Point Project, Series A, 2.850% due 6/1/26(d) | 134263 |
| 500000 | AAA | County of Prince George's, GO, Series A, 5.000% due 8/1/40 | 554752 |
| 630000 | Baa3(a) | Maryland Economic Development Corp., Revenue Bonds, Green Bond, Purple Line Light Rail Project, AMT, Series B, 5.250% due 6/30/55(c) | 627231 |
| 250000 | AAA | Washington Suburban Sanitary Commission, Revenue Bonds, 5.000% due 6/1/43 | 274270 |
|  |  | Total Maryland | 1590516 |
|  **Massachusetts - 3.8%** | **Massachusetts - 3.8%** | **Massachusetts - 3.8%** | **Massachusetts - 3.8%** |
| 1000000 | AAA | City of Boston, GO, Series A, 5.000% due 11/1/37 | 1139768 |
|  |  | Commonwealth of Massachusetts, GO: |  |
| 550000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; Series C, 5.000% due 10/1/48 | 578690 |
| 500000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; Series E, 5.000% due 11/1/47 | 524556 |
| 270000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; Series I, 5.000% due 12/1/47 | 286578 |
| 690000 | AA+ | Massachusetts Water Resources Authority, Revenue Bonds, Series C, 5.000% due 8/1/39 | 784787 |
|  |  | Total Massachusetts | 3314379 |
|  **Michigan - 3.5%** | **Michigan - 3.5%** | **Michigan - 3.5%** | **Michigan - 3.5%** |
| 845000 | A+ | Central Michigan University, Revenue Bonds, Series A, 5.000% due 10/1/37 | 960776 |
| 500000 | AA- | Great Lakes Water Authority Sewage Disposal System Revenue, Revenue Bonds, Series C, 5.250% due 7/1/53 | 528804 |
| 1000000 | AA- | Lansing Board of Water & Light, Revenue Bonds, Series A, 5.250% due 7/1/54 | 1072375 |
| 500000 | AA+ | Michigan State Housing Development Authority, Revenue Bonds, Series D, 5.100% due 12/1/37 | 534719 |
|  |  | Total Michigan | 3096674 |
|  **Nebraska - 1.2%** | **Nebraska - 1.2%** | **Nebraska - 1.2%** | **Nebraska - 1.2%** |
| 1000000 | AA | Omaha Public Power District, Revenue Bonds, Series A, 5.250% due 2/1/48 | 1065036 |
|  **New Jersey - 3.2%** | **New Jersey - 3.2%** | **New Jersey - 3.2%** | **New Jersey - 3.2%** |
| 100000 | BBB | Camden County Improvement Authority (The), Revenue Bonds, KIPP Cooper Norcross High School, 6.000% due 6/15/62 | 103821 |
|  |  | New Jersey Transportation Trust Fund Authority, Revenue Bonds: |  |
| 1000000 | A | &nbsp;&nbsp;&nbsp;&nbsp; Series A, 4.000% due 6/15/40 | 990319 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Municipal Bond Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount†** | **Rating††** | **Security** | **Value** |
|  **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** |
|  **New Jersey - 3.2% - (continued)** | **New Jersey - 3.2% - (continued)** | **New Jersey - 3.2% - (continued)** | **New Jersey - 3.2% - (continued)** |
| $240000 | A | &nbsp;&nbsp;&nbsp;&nbsp; Series AA, 5.000% due 6/15/42 | $259752 |
| 310000 | A | &nbsp;&nbsp;&nbsp;&nbsp; Series AA, 5.000% due 6/15/43 | 334503 |
| 500000 | AA- | New Jersey Turnpike Authority, Revenue Bonds, Series A, 5.000% due 1/1/43 | 543427 |
| 500000 | A- | Tobacco Settlement Financing Corp., Revenue Bonds, Series A, 5.000% due 6/1/35 | 515987 |
|  |  | Total New Jersey | &nbsp;&nbsp;&nbsp;&nbsp;2747809 |
|  **New York - 5.1%** | **New York - 5.1%** | **New York - 5.1%** | **New York - 5.1%** |
| 1000000 | AA | City of New York, GO, Series B, 5.250% due 10/1/47 | 1049358 |
| 500000 | AAA | New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds, Series F1, 5.250% due 2/1/53 | 525677 |
| 500000 | Aa1(a) | New York State Dormitory Authority, Revenue Bonds, Series C, 5.000% due 3/15/44 | 538182 |
| 500000 | AA- | Port Authority of New York & New Jersey, Revenue Bonds, Series 241, 5.000% due 7/15/41 | 548900 |
| 660000 | AA+ | Triborough Bridge & Tunnel Authority, Revenue Bonds, Series C, 5.250% due 5/15/52 | 689184 |
| 1000000 | AA+ | Triborough Bridge & Tunnel Authority Sales Tax Revenue, Revenue Bonds, Triborough Bridge and Tunnel Authority Capital Lockbox, Series A, 5.000% due 5/15/40 | 1101118 |
|  |  | Total New York | 4452419 |
|  **North Carolina - 0.6%** | **North Carolina - 0.6%** | **North Carolina - 0.6%** | **North Carolina - 0.6%** |
| 500000 | AA+ | County of Johnston, Revenue Bonds, 5.000% due 4/1/41 | 556460 |
|  **North Dakota - 0.5%** | **North Dakota - 0.5%** | **North Dakota - 0.5%** | **North Dakota - 0.5%** |
| 495000 | Aa1(a) | North Dakota Housing Finance Agency, Revenue Bonds, Water and Sewer System, Series A, 3.700% due 1/1/46 | 445644 |
|  **Ohio - 3.9%** | **Ohio - 3.9%** | **Ohio - 3.9%** | **Ohio - 3.9%** |
|  |  | Buckeye Tobacco Settlement Financing Authority, Revenue Bonds: |  |
| 85000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp; Series A2, 3.000% due 6/1/48 | 60546 |
| 100000 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series B2, 5.000% due 6/1/55 | 84353 |
| 1000000 | Aa2(a) | North Ridgeville City School District, GO, 5.000% due 12/1/44 | 1033114 |
| 1000000 | AAA | Ohio Water Development Authority, Revenue Bonds, Series A, 5.000% due 12/1/41 | 1111983 |
| 1000000 | AAA | Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue Bonds, Series D, 5.000% due 12/1/43 | 1095182 |
|  |  | Total Ohio | 3385178 |
|  **Oklahoma - 1.2%** | **Oklahoma - 1.2%** | **Oklahoma - 1.2%** | **Oklahoma - 1.2%** |
| 1000000 | AAA | Oklahoma Water Resources Board, Revenue Bonds, Clean Water Program, 5.000% due 4/1/44 | 1076339 |
|  **Oregon - 1.6%** | **Oregon - 1.6%** | **Oregon - 1.6%** | **Oregon - 1.6%** |
| 1000000 | AA- | Port of Portland Airport Revenue, Revenue Bonds, Green Bond, AMT, Series 29, 5.000% due 7/1/38(c) | 1089775 |
| 250000 | AA+ | State of Oregon, GO, Series F, 5.000% due 8/1/48 | 263784 |
|  |  | Total Oregon | 1353559 |
|  **Pennsylvania - 2.4%** | **Pennsylvania - 2.4%** | **Pennsylvania - 2.4%** | **Pennsylvania - 2.4%** |
| 250000 | AA- | Geisinger Authority, Revenue Bonds, Geisinger Health System, 4.000% due 4/1/50 | 219166 |
| 1000000 | A | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Series B1, 5.250% due 11/1/37 | 1132504 |
| 830000 | A+ | Pennsylvania Turnpike Commission, Revenue Bonds, Series A, 4.000% due 12/1/46 | 775166 |
|  |  | Total Pennsylvania | 2126836 |
|  **Puerto Rico - 1.0%** | **Puerto Rico - 1.0%** | **Puerto Rico - 1.0%** | **Puerto Rico - 1.0%** |
|  |  | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Revenue Bonds: |  |
| 664000 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series A1, 4.750% due 7/1/53 | 632129 |
| 125000 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series A1, zero coupon due 7/1/46 | 42625 |
| 216000 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series A2, 4.784% due 7/1/58 | 203919 |
|  |  | Total Puerto Rico | 878673 |
|  **Tennessee - 1.2%** | **Tennessee - 1.2%** | **Tennessee - 1.2%** | **Tennessee - 1.2%** |
| 245000 | Baa1(a) | Tennergy Corp., Revenue Bonds, Gas Supply, Series A, 5.500% due 10/1/53(b) | 265400 |
| 600000 | Aa3(a) | Tennessee Energy Acquisition Corp., Revenue Bonds, Series A, 5.000% due 12/1/35 | 652744 |
| 95000 | AA+ | Tennessee Housing Development Agency, Revenue Bonds, Series 2A, 6.000% due 1/1/55 | 104844 |
|  |  | Total Tennessee | 1022988 |
|  **Texas - 11.1%** | **Texas - 11.1%** | **Texas - 11.1%** | **Texas - 11.1%** |
| 415000 | Aa1(a) | Bexar Management And Development Corp., Revenue Bonds, 4.610% due 7/1/44 | 415266 |
| 315000 | AA | City of Austin, Water & Wastewater System Revenue, Revenue Bonds, 5.000% due 11/15/41 | 347577 |
| 500000 | Aa3(a) | City of Houston, GO, Series A, 5.250% due 3/1/40 | 550058 |
| 100000 | BB+ | City of Houston, Airport System Revenue, Revenue Bonds, AMT, Series B1, 5.000% due 7/15/30(c) | 100039 |
| 250000 | Aa1(a) | City of Midland, GO, Series B, 5.000% due 3/1/47 | 260449 |
| 500000 | Aaa(a) | County of Harris, GO, Series A, 5.000% due 9/15/38 | 570334 |
| 1000000 | AA- | Dallas Fort Worth International Airport, Revenue Bonds, AMT, Series A1, 5.250% due 11/1/45(c) | 1060297 |
|  |  | Fort Bend Independent School District, GO: |  |
| 500000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series A, Permanent School Fund Guaranteed, 5.000% due 8/15/36 | 572897 |
| 1000000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series A, Permanent School Fund Guaranteed, 5.000% due 8/15/44 | 1065858 |
| 500000 | AA | Leander Independent School District, GO, Series B, 5.000% due 8/15/34 | 577635 |
| 315000 | Aaa(a) | New Caney Independent School District, GO, Permanent School Fund Guaranteed, 5.000% due 2/15/41 | 346840 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Municipal Bond Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount†** | **Rating††** | **Security** | **Value** |
|  **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** | **MUNICIPAL BONDS - 87.6% - (continued)** |
|  **Texas - 11.1% - (continued)** | **Texas - 11.1% - (continued)** | **Texas - 11.1% - (continued)** | **Texas - 11.1% - (continued)** |
| $500000 | AA- | North Texas Municipal Water District, Revenue Bonds, Panther Creek Regional Wastewater System, 5.250% due 6/1/43 | $540752 |
| 1000000 | AAA | Plano Independent School District, GO, Permanent School Fund Guaranteed, 5.000% due 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;1100331 |
| 1000000 | AA | Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds, Cook Children's Medical Center, 5.250% due 12/1/49 | 1072997 |
|  |  | Texas Water Development Board, Revenue Bonds: |  |
| 500000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 10/15/47 | 522110 |
| 500000 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; State Revolving Fund, 5.000% due 8/1/44 | 541122 |
|  |  | Total Texas | 9644562 |
|  **Virginia - 2.3%** | **Virginia - 2.3%** | **Virginia - 2.3%** | **Virginia - 2.3%** |
| 500000 | AA+ | Albemarle County Economic Development Authority, Revenue Bonds, Series A, 5.000% due 6/1/38 | 559909 |
| 225000 | AAA | Prince William County Service Authority, Revenue Bonds, 5.000% due 7/15/31 | 254815 |
| 80000 | AA+ | Virginia Housing Development Authority, Revenue Bonds, Series G, 5.150% due 11/1/52 | 82218 |
| 1000000 | AA+ | Virginia Public Building Authority, Revenue Bonds, Series A, 5.000% due 8/1/42 | 1103086 |
|  |  | Total Virginia | 2000028 |
|  **Washington - 2.1%** | **Washington - 2.1%** | **Washington - 2.1%** | **Washington - 2.1%** |
|  |  | Pierce County School District No 10 Tacoma, GO, School Bonds Guaranty Program: |  |
| 1000000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 12/1/48 | 1060950 |
| 370000 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 12/1/44 | 397542 |
|  |  | Washington State Housing Finance Commission, Revenue Bonds: |  |
| 285000 | Ba2(a) | &nbsp;&nbsp;&nbsp;&nbsp; Spokane Int Acad Project, Series A, 4.000% due 7/1/26(d) | 283421 |
| 100000 | BB(e) | &nbsp;&nbsp;&nbsp;&nbsp; Transforming Age Projects, Series A, 5.000% due 1/1/26(d) | 100061 |
|  |  | Total Washington | 1841974 |
|  |  | **TOTAL MUNICIPAL BONDS**<br> (Cost - $75,137,750) | **76480757** |
|  **SHORT-TERM INVESTMENTS - 11.4%** | **SHORT-TERM INVESTMENTS - 11.4%** | **SHORT-TERM INVESTMENTS - 11.4%** | **SHORT-TERM INVESTMENTS - 11.4%** |
|  **TIME DEPOSIT - 11.4%** | **TIME DEPOSIT - 11.4%** | **TIME DEPOSIT - 11.4%** | **TIME DEPOSIT - 11.4%** |
| 9938287 |  | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25<br>(Cost - $9,938,287) | **9938287** |
|  |  | **TOTAL INVESTMENTS - 99.0%**<br> (Cost - $85,076,037) | **86419044** |
|  |  | Other Assets in Excess of Liabilities - 1.0% | 871955 |
|  |  | **TOTAL NET ASSETS - 100.0%** | $**87290999** |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Municipal Bond Fund** 

† Amount denominated in U.S. dollars, unless otherwise noted.

†† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.

(a) Rating by Moody's Investors Service.

(b) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2025.

(c) Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax
(AMT).

(d) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30,
2025, amounts to $1,648,544 and represents 1.9% of net assets.

(e) Rating by Fitch Ratings Service.

At November 30, 2025, for Municipal Bond Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net<br>Unrealized<br>Appreciation** |
|  Municipal Bond Fund | $85076037 | $1784164 | $(441157) | $1343007 |

---

---

| | |
|:---|:---|
| **Abbreviations used in this schedule:** | **Abbreviations used in this schedule:** |
|  AMT | Alternative Minimum Tax |
| GO | General Obligation |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Municipal Bond Fund** 

---

| | |
|:---|:---|
| **Summary of Investments by Industry^** | |
| General Obligation | 31.7% |
| Water and Sewer | 12.2 |
| School District | 10.1 |
| Health Care Providers & Services | 7.9 |
| Airport | 7.2 |
| Utilities | 3.3 |
| Single Family Housing | 2.5 |
| Transportation | 2.4 |
| Higher Education | 1.9 |
| Development | 2.0 |
| Bond Bank | 1.8 |
| Education | 1.9 |
| Tobacco Settlement | 1.7 |
| Power | 1.2 |
| Multifamily Housing | 0.6 |
| Nursing Homes | 0.1 |
| Short-Term Investments | 11.5 |
| Total Investments | 100.0% |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

**See pages 268-270 for definitions of ratings.** 

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **U.S. GOVERNMENT OBLIGATIONS - 113.5%** | **U.S. GOVERNMENT OBLIGATIONS - 113.5%** | **U.S. GOVERNMENT OBLIGATIONS - 113.5%** |
|  | U.S. Treasury Inflation Indexed Bonds: |  |
| $2165881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 1/15/28 | $2189087 |
| 2994167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625% due 4/15/28 | 3158389 |
| 1651989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500% due 1/15/29 | 1714524 |
| 2463760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875% due 4/15/29 | 2672134 |
| 43917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375% due 4/15/32 | 49019 |
| 871583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 2/15/40 | 877275 |
| 964061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 2/15/41 | 961152 |
| 2012388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.750% due 2/15/42 | 1598728 |
| 1822409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625% due 2/15/43 | 1385961 |
| 2327379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375% due 2/15/44 | 1990657 |
| 2648256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.750% due 2/15/45 | 1978312 |
| 2042477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 2/15/46 | 1578299 |
| 1870287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.875% due 2/15/47 | 1383865 |
| 1211760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 2/15/48 | 909056 |
| 1548912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 2/15/49 | 1144865 |
| 1212816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.250% due 2/15/50 | 719929 |
| 1497048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 2/15/51 | 834601 |
| 1050093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 2/15/52 | 573289 |
| 2185340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 2/15/53 | 1752807 |
| 1799127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 2/15/54 | 1662583 |
| 1441048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 2/15/55(g) | 1407684 |
|  | U.S. Treasury Inflation Indexed Notes: |  |
| 1857765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 4/15/26 | 1846211 |
| 6280518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 7/15/26(g) | 6246364 |
| 4397894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 10/15/26 | 4360692 |
| 5284278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375% due 1/15/27 | 5225563 |
| 2875900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 4/15/27 | 2826221 |
| 3996618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375% due 7/15/27 | 3955277 |
| 6578700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625% due 10/15/27(g) | 6646848 |
| 5369747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.500% due 1/15/28(g) | 5287351 |
| 1082850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.250% due 4/15/28 | 1081890 |
| 4671123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.750% due 7/15/28 | 4630931 |
| 5938352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375% due 10/15/28(g) | 6147049 |
| 3202937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.875% due 1/15/29 | 3166478 |
| 1155099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 4/15/29 | 1186055 |
| 3513454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.250% due 7/15/29 | 3400364 |
| 4438632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625% due 10/15/29 | 4508526 |
| 2449095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 1/15/30 | 2335585 |
| 2448792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625% due 4/15/30 | 2478786 |
| 2748978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 7/15/30 | 2612057 |
| 2008240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125% due 10/15/30 | 1993695 |
| 5502401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 1/15/31 | 5168434 |
| 5950184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 7/15/31(g) | 5560199 |
| 4452498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 1/15/32 | 4107204 |
| 9502065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625% due 7/15/32(a) | 9009438 |
| 11012939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125% due 1/15/33(a) | 10686518 |
| 7165315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375% due 7/15/33(a) | 7063605 |
| 2324586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750% due 1/15/34 | 2338405 |
| 4243951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 7/15/34(a) | 4311398 |
| 4631355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 1/15/35 | 4769459 |
| 3338049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 7/15/35(a)(g) | 3369185 |
|  | **TOTAL U.S. GOVERNMENT OBLIGATIONS**<br> (Cost - $160,514,714) | **156862004** |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **MORTGAGE-BACKED SECURITIES - 14.3%** | **MORTGAGE-BACKED SECURITIES - 14.3%** | **MORTGAGE-BACKED SECURITIES - 14.3%** | **MORTGAGE-BACKED SECURITIES - 14.3%** |
| **FHLMC - 3.1%** | **FHLMC - 3.1%** | **FHLMC - 3.1%** | **FHLMC - 3.1%** |
|  |  | Federal Home Loan Mortgage Corp. (FHLMC): |  |
| $83127 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 7/1/52 | $74047 |
| 307616 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 10/1/53 | 319987 |
| 3538682 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000% due 3/1/54 | 3629898 |
| 293567 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 7/1/54 | 293356 |
|  |  | Total FHLMC | 4317288 |
| **FNMA - 8.4%** | **FNMA - 8.4%** | **FNMA - 8.4%** | **FNMA - 8.4%** |
|  |  | Federal National Mortgage Association (FNMA): |  |
| 31959 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000% due 3/1/50 | 30913 |
| 162329 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000% due 5/1/52 | 144642 |
| 77922 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 10/1/52 | 76728 |
| 1640378 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 5/1/54 | 1662239 |
| 7800000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500% due 1/1/56(f) | 7630152 |
| 2000000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% due 1/1/56(f) | 2073061 |
|  |  | Total FNMA | 11617735 |
| **GNMA - 2.8%** | **GNMA - 2.8%** | **GNMA - 2.8%** | **GNMA - 2.8%** |
| 4217114 |  | Government National Mortgage Association II (GNMA), 3.500% due 11/20/52 - 10/20/54 | 3873435 |
|  |  | **TOTAL MORTGAGE-BACKED SECURITIES**<br> (Cost - $19,643,866) | **19808458** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** |
| **Asset-Backed Securities - 2.0%** | **Asset-Backed Securities - 2.0%** | **Asset-Backed Securities - 2.0%** | **Asset-Backed Securities - 2.0%** |
| 72577 | CCC | Bear Stearns Asset-Backed Securities Trust, Series 2004-1, Class M1, 5.044% (1-Month Term SOFR + 1.089%) due 6/25/34(b) | 83948 |
|  |  | Credit-Based Asset Servicing & Securitization LLC: |  |
| 119062 | CCC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-CB3, Class M4, 3.716% (1-Month Term SOFR + 1.164%) due 6/25/35(b) | 116938 |
| 603416 | Caa2(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-CB6, Class A3, 4.326% (1-Month Term SOFR + 0.334%) due 7/25/37(b)(c) | 407532 |
|  |  | CWABS Asset-Backed Certificates Trust: |  |
| 149011 | Caa1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-7, Class MV5, 5.794% (1-Month Term SOFR + 1.839%) due 11/25/34(b) | 138831 |
| 204038 | CC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1, Class 1A, 4.209% (1-Month Term SOFR + 0.254%) due 7/25/37(b) | 189977 |
| 43250 | D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-6, Class 1A, 4.469% (1-Month Term SOFR + 0.514%) due 9/25/37(b) | 40683 |
| 222196 | CCC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-8, Class 1A1, 4.259% (1-Month Term SOFR + 0.304%) due 11/25/37(b) | 214815 |
| 390261 | BB | Ellington Loan Acquisition Trust, Series 2007-1, Class A1, 5.169% (1-Month Term SOFR + 1.214%) due 5/25/37(b)(c) | 384355 |
| 16992 | Caa1(d) | GSAA Trust, Series 2006-7, Class AF4A, step bond to yield, 6.720% due 3/25/46 | 8910 |
| 142857 | Caa2(d) | Long Beach Mortgage Loan Trust, Series 2006-7, Class 2A2, 4.309% (1-Month Term SOFR + 0.354%) due 8/25/36(b) | 57634 |
|  |  | Option One Mortgage Loan Trust: |  |
| 77100 | Caa1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1, Class 1A1, 4.349% (1-Month Term SOFR + 0.394%) due 1/25/37(b) | 50724 |
| 70014 | Caa1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-2, Class 1A1, 4.349% (1-Month Term SOFR + 0.394%) due 3/25/37(b) | 47331 |
| 38576 | AA- | RASC Trust, Series 2006-KS3, Class M1, 4.564% (1-Month Term SOFR + 0.444%) due 4/25/36(b) | 38436 |
| 700000 | Aaa(d) | Romark Credit Funding Ltd., Series 2025-4A, Class A, 5.423% due 7/29/43(c) | 702190 |
| 86123 | Caa3(d) | Securitized Asset-Backed Receivables LLC Trust, Series 2006-HE2, Class A2C, 4.369% (1-Month Term SOFR + 0.414%) due 7/25/36(b) | 33797 |
|  |  | Soundview Home Loan Trust: |  |
| 177893 | Caa1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OPT1, Class 1A1, 4.269% (1-Month Term SOFR + 0.314%) due 6/25/37(b) | 123967 |
| 40674 | CCC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OPT2, Class 2A3, 4.249% (1-Month Term SOFR + 0.294%) due 7/25/37(b) | 37589 |
|  |  | Total Asset-Backed Securities | 2677657 |
| **Mortgage Securities - 6.7%** | **Mortgage Securities - 6.7%** | **Mortgage Securities - 6.7%** | **Mortgage Securities - 6.7%** |
|  |  | Alternative Loan Trust: |  |
| 136045 | Caa1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HY11, Class A1, 4.309% (1-Month Term SOFR + 0.354%) due 6/25/36(b) | 131339 |
| 23443 | WR(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4CB, Class 1A35, 6.000% due 4/25/37 | 19770 |
| 331310 | Caa1(d) | Alternative Loan Trust Resecuritization, Series 2008-2R, Class 1A1, 6.000% due 8/25/37(b) | 274887 |
| 9012 | WR(d) | Bear Stearns Adjustable Rate Mortgage Trust, Series 2003-3, Class 3A2, 6.564% due 5/25/33(b) | 8598 |
| 14204 | WR(d) | Chevy Chase Funding LLC Mortgage-Backed Certificates, Series 2004-A, Class A1, 4.429% (1-Month Term SOFR + 0.474%) due 3/25/35(b)(c) | 14296 |
|  |  | CHL Mortgage Pass-Through Trust: |  |
| 383169 | WR(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HYB6, Class 2A1, 4.739% due 10/20/35(b) | 362476 |
| 36288 | WR(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HYB9, Class 2A1, 6.449% (1-Year Term SOFR + 2.465%) due 2/20/36(b) | 34436 |
| 79092 | WR(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-6, Class A4, 6.000% due 4/25/36 | 37499 |
| 116414 | WD(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1, Class A1, 6.000% due 3/25/37 | 50987 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br>**Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%** |
| **Mortgage Securities - 6.7% - (continued)** | **Mortgage Securities - 6.7% - (continued)** | **Mortgage Securities - 6.7% - (continued)** | **Mortgage Securities - 6.7% - (continued)** | **Mortgage Securities - 6.7% - (continued)** |
|  |  |  | Citigroup Mortgage Loan Trust: |  |
| $2562 |  | WR(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HYB2, Class 2A, 6.748% due 3/25/34(b) | $2389 |
| 99809 |  | Caa1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR4, Class 1A1A, 4.625% due 3/25/37(b) | 83506 |
| 11826 |  | WR(d) | Citigroup Mortgage Loan Trust Inc., Series 2004-NCM2, Class 1CB1, 5.500% due 8/25/34 | 11773 |
| 12770 |  | NR | Credit Suisse Commercial Mortgage, Series 2015-3R, Class 5A2, 4.219% (1-Month Term SOFR + 0.264%) due 9/29/36(b)(c) | 12774 |
| 661867 |  | NR | Federal National Mortgage Association (FNMA), REMICS, Series 2025-47, Class FJ, 5.102% (30-Day Average SOFR + 1.030%) due 6/25/55(b) | 665629 |
| 117617 |  | NR | Freddie Mac Multifamily Structured Pass Through Certificates, Series KBX1, Class A2, 2.920% due 1/25/26 | 117163 |
|  |  |  | Government National Mortgage Association (GNMA): |  |
| 200445 |  | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-H15, Class FG, 4.927% (1-Year Term SOFR + 0.865%) due 8/20/68(b) | 201483 |
| 477235 |  | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H11, Class FC, 5.199% (30-Day Average SOFR + 1.100%) due 5/20/73(b) | 485823 |
| 2497999 |  | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H19, Class FA, 4.999% (30-Day Average SOFR + 0.900%) due 8/20/73(b) | 2518333 |
| 1397303 |  | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H22, Class F, 4.879% (30-Day Average SOFR + 0.780%) due 10/20/75(b)(h) | 1401372 |
| 1397438 |  | NR | Government National Mortgage Association II (GNMA), Series 2025-159, Class FJ, 5.269% (30-Day Average SOFR + 1.170%) due 9/20/55(b) | 1400783 |
| 2533 |  | AA- | HarborView Mortgage Loan Trust, Series 2005-9, Class 2A1A, 4.754% (1-Month Term SOFR + 0.794%) due 6/20/35(b) | 2400 |
| 31993 |  | CCC | IndyMac INDX Mortgage Loan Trust, Series 2005-16IP, Class A1, 4.709% (1-Month Term SOFR + 0.754%) due 7/25/45(b) | 24633 |
| 90261 |  | CCC | JP Morgan Alternative Loan Trust, Series 2006-A1, Class 1A1, 4.529% (1-Month Term SOFR + 0.574%) due 3/25/36(b) | 86371 |
| 55130 |  | BBB- | JP Morgan Chase Commercial Mortgage Securities Trust, Series 2019-FL12, Class A, 5.456% (1-Month Term SOFR + 1.497%) due 12/15/31(b)(c) | 54973 |
| 159528 |  | WD(e) | Lehman XS Trust, Series 2007-20N, Class A1, 6.369% (1-Month Term SOFR + 2.414%) due 12/25/37(b) | 162244 |
| 600000 |  | Aaa(d) | LUX Trust LION, Class A, 6.649% (1-Month Term SOFR + 2.690%) due 8/15/40(b)(c) | 606771 |
| 2258 |  | WR(d) | MRFC Mortgage Pass-Through Trust, Series 2000-TBC2, Class A1, 4.553% (1-Month Term SOFR + 0.594%) due 6/15/30(b) | 2225 |
|  |  |  | New Residential Mortgage Loan Trust: |  |
| 24522 |  | NR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A, Class A1, 4.500% due 5/25/58(b)(c) | 24121 |
| 110222 |  | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-RPL3, Class A1, 2.750% due 7/25/59(b)(c) | 106881 |
| 506094 |  | WD(e) | Residential Asset Securitization Trust, Series 2006-A10, Class A5, 6.500% due 9/25/36 | 151689 |
| 404308 |  | Caa3(d) | Securitized Asset-Backed Receivables LLC Trust, Series 2006-FR3, Class A3, 4.569% (1-Month Term SOFR + 0.614%) due 5/25/36(b) | 219902 |
| 24930 |  | WR(d) | Sequoia Mortgage Trust, Series 6, Class A, 4.713% (1-Month Term SOFR + 0.754%) due 4/19/27(b) | 24736 |
|  |  |  | WaMu Mortgage Pass-Through Certificates Trust: |  |
| 3211 |  | WR(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-AR2, Class A, 4.206% (11th District Cost of Funds Index + 1.250%) due 2/27/34(b) | 3142 |
| 1774 |  | WR(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-AR17, Class 1A, 5.278% (1-Year Treasury Average Rate + 1.200%) due 11/25/42(b) | 1725 |
|  |  |  | Total Mortgage Securities | 9307129 |
|  |  |  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br> (Cost - $12,815,961) | **11984786** |
| **COLLATERALIZED LOAN OBLIGATIONS - 5.7%** | **COLLATERALIZED LOAN OBLIGATIONS - 5.7%** | **COLLATERALIZED LOAN OBLIGATIONS - 5.7%** | **COLLATERALIZED LOAN OBLIGATIONS - 5.7%** | **COLLATERALIZED LOAN OBLIGATIONS - 5.7%** |
| **Other ABS - 5.7%** | **Other ABS - 5.7%** | **Other ABS - 5.7%** | **Other ABS - 5.7%** | **Other ABS - 5.7%** |
| 300000 | <sup>EUR</sup> | AAA | Arbour CLO VI DAC, Series 6A, Class AR, 3.214% (3-Month EURIBOR + 1.150%) due 11/15/37(b)(c) | 348323 |
|  |  |  | BlueMountain CLO Ltd.: |  |
| 59604 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-3A, Class A1R2, 5.052% (3-Month Term SOFR + 1.200%) due 11/15/30(b)(c) | 59634 |
| 700000 |  | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-34A, Class AR, 5.034% (3-Month Term SOFR + 1.150%) due 4/20/35(b)(c) | 699740 |
| 148386 | <sup>EUR</sup> | Aaa(d) | Cairn CLO X DAC, Series 2018-10A, Class AR, 2.789% (3-Month EURIBOR + 0.780%) due 10/15/31(b)(c) | 172216 |
| 500000 |  | AAA | Canyon CLO Ltd., Series 2020-1A, Class AR2, 4.985% (3-Month Term SOFR + 1.080%) due 7/15/34(b)(c) | 500180 |
| 36859 | <sup>EUR</sup> | Aaa(d) | Carlyle Global Markets Strategies Euro CLO Ltd., Series 2014-2A, Class AR-1, 2.814% (3-Month EURIBOR + 0.750%) due 11/15/31(b)(c) | 42695 |
| 477685 | <sup>EUR</sup> | AAA | Dryden 44 Euro CLO, Series 2015-44A, Class A1RR, 2.906% (3-Month EURIBOR + 0.880%) due 4/15/34(b)(c) | 553596 |
| 700000 | <sup>EUR</sup> | AAA | Dunedin Park CLO DAC, Series 1A, Class AR, 3.031% (3-Month EURIBOR + 0.980%) due 11/20/34(b)(c) | 810602 |
| 700000 |  | Aaa(d) | Golub Capital Partners CLO 50B-R Ltd., Series 2020-50A, Class A1R2, 4.994% (3-Month Term SOFR + 1.110%) due 4/20/35(b)(c) | 699602 |
| 700000 | <sup>EUR</sup> | AAA | Hayfin Emerald CLO VI DAC, Series 6A, Class AR, 3.259% (3-Month EURIBOR + 1.250%) due 10/15/38(b)(c) | 812440 |
| 24432 |  | Aaa(d) | LCM Loan Income Fund I Ltd., Series 1A, Class A, 5.176% (3-Month Term SOFR + 1.292%) due 4/20/31(b)(c) | 24445 |
| 297752 | <sup>EUR</sup> | Aaa(d) | Man GLG Euro CLO V DAC, Series 5A, Class A1R, 2.704% (3-Month EURIBOR + 0.690%) due 12/15/31(b)(c) | 345241 |
| 700000 |  | Aaa(d) | Northwoods Capital 25 Ltd., Series 2021-25A, Class AR, 5.004% (3-Month Term SOFR + 1.120%) due 7/20/34(b)(c) | 700000 |
| 258589 | <sup>EUR</sup> | Aaa(d) | Palmer Square European Loan Funding DAC, Series 2023-3A, Class AR, 3.034% (3-Month EURIBOR + 0.970%) due 5/15/33(b)(c) | 300158 |
| 455139 | <sup>EUR</sup> | Aaa(d) | St Paul's CLO IV DAC, Series 4A, Class ARR1, 2.895% (3-Month EURIBOR + 0.830%) due 4/25/30(b)(c) | 526335 |
| 700000 |  | Aaa(d) | Symphony CLO XXIX Ltd., Series 2021-29A, Class AR, 5.433% (3-Month Term SOFR + 1.150%) due 10/15/35(b)(c) | 700245 |
| 224099 |  | AAA | TIAA CLO IV Ltd., Series 2018-1A, Class A1AR, 5.024% (3-Month Term SOFR + 1.140%) due 1/20/32(b)(c) | 224245 |
| 340643 |  | AAA | Tralee CLO VI Ltd., Series 2019-6A, Class A1RR, 5.078% (3-Month Term SOFR + 1.220%) due 10/25/32(b)(c) | 340832 |
|  |  |  | **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br> (Cost - $7,616,058) | **7860529** |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **SOVEREIGN BONDS - 3.0%** | **SOVEREIGN BONDS - 3.0%** | **SOVEREIGN BONDS - 3.0%** | **SOVEREIGN BONDS - 3.0%** | **SOVEREIGN BONDS - 3.0%** |
| **Canada - 0.3%** | **Canada - 0.3%** | **Canada - 0.3%** | **Canada - 0.3%** | **Canada - 0.3%** |
|  |  |  | Canadian Government Real Return Bonds: |  |
| 563274 | <sup>CAD</sup> | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 12/1/26 | $417864 |
| 63440 | <sup>CAD</sup> | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.500% due 12/1/50 | 34905 |
|  |  |  | Total Canada | 452769 |
| **France - 0.9%** | **France - 0.9%** | **France - 0.9%** | **France - 0.9%** | **France - 0.9%** |
|  |  |  | French Republic Government Bonds OAT: |  |
| 735090 | <sup>EUR</sup> | A+u(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100% due 3/1/26(c) | 849954 |
| 245410 | <sup>EUR</sup> | A+u(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100% due 7/25/31(c) | 271678 |
| 120479 | <sup>EUR</sup> | A+u(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100% due 7/25/38(c) | 114782 |
|  |  |  | Total France | 1236414 |
| **Italy - 0.3%** | **Italy - 0.3%** | **Italy - 0.3%** | **Italy - 0.3%** | **Italy - 0.3%** |
| 373242 | <sup>EUR</sup> | Baa2u(d) | Italy Buoni Poliennali Del Tesoro, 0.400% due 5/15/30(c) | 423487 |
| **Japan - 1.5%** | **Japan - 1.5%** | **Japan - 1.5%** | **Japan - 1.5%** | **Japan - 1.5%** |
|  |  |  | Japanese Government CPI Linked Bonds: |  |
| 66712480 | <sup>JPY</sup> | A1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100% due 3/10/28 | 433618 |
| 154961580 | <sup>JPY</sup> | A1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100% due 3/10/29 | 1008698 |
| 101642000 | <sup>JPY</sup> | A1(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.005% due 3/10/35 | 645307 |
|  |  |  | Total Japan | 2087623 |
|  |  |  | **TOTAL SOVEREIGN BONDS**<br> (Cost - $4,966,318) | **4200293** |
| **CORPORATE BONDS & NOTES - 0.1%** | **CORPORATE BONDS & NOTES - 0.1%** | **CORPORATE BONDS & NOTES - 0.1%** | **CORPORATE BONDS & NOTES - 0.1%** | **CORPORATE BONDS & NOTES - 0.1%** |
| **Banks - 0.1%** | **Banks - 0.1%** | **Banks - 0.1%** | **Banks - 0.1%** | **Banks - 0.1%** |
| 100000 | <sup>GBP</sup> | BBB+ | HSBC Holdings PLC, Subordinated Notes, 6.000% due 3/29/40 | 132273 |
| 33564 | <sup>DKK</sup> | AAA | Nykredit Realkredit AS, Covered Notes, 1.000% due 10/1/50 | 4120 |
|  |  |  | Total Banks | 136393 |
| **Diversified Financial Services - 0.0%@** | **Diversified Financial Services - 0.0%@** | **Diversified Financial Services - 0.0%@** | **Diversified Financial Services - 0.0%@** | **Diversified Financial Services - 0.0%@** |
| 98592 | <sup>DKK</sup> | AAA | Jyske Realkredit AS, Covered Notes, 1.500% due 10/1/53 | 12145 |
| 100000 | <sup>DKK</sup> | AAA | Nordea Kredit Realkreditaktieselskab, Covered Notes, 1.500% due 10/1/53 | 10620 |
|  |  |  | Realkredit Danmark AS, Covered Notes: |  |
| 17579 | <sup>DKK</sup> | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000% due 10/1/53 | 2144 |
| 168855 | <sup>DKK</sup> | AAA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500% due 10/1/53 | 21428 |
|  |  |  | Total Diversified Financial Services | 46337 |
|  |  |  | **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $234,086) | **182730** |
|  |  |  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $205,791,003) | **200898800** |
| **SHORT-TERM INVESTMENTS - 0.7%** | **SHORT-TERM INVESTMENTS - 0.7%** | **SHORT-TERM INVESTMENTS - 0.7%** | **SHORT-TERM INVESTMENTS - 0.7%** | **SHORT-TERM INVESTMENTS - 0.7%** |
| **TIME DEPOSITS - 0.7%** | **TIME DEPOSITS - 0.7%** | **TIME DEPOSITS - 0.7%** | **TIME DEPOSITS - 0.7%** | **TIME DEPOSITS - 0.7%** |
| 448 | <sup>AUD</sup> |  | ANZ National Bank - London, 2.300% due 12/1/25 | 293 |
| 8297 | <sup>DKK</sup> |  | BBH - New York, 0.600% due 12/1/25 | 1288 |
|  |  |  | BNP Paribas - Paris: |  |
| 929 | <sup>CHF</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.300)% due 12/1/25 | 1156 |
| 343242 | <sup>SEK</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.660% due 12/1/25 | 36330 |
| 758 | <sup>NZD</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.100% due 12/1/25 | 435 |
| $562413 |  |  | Citibank - New York, 3.220% due 12/1/25 | 562413 |
| 37516 | <sup>EUR</sup> |  | DNB - Oslo, 0.880% due 12/1/25 | 43506 |
| 105 | <sup>SGD</sup> |  | HSBC Bank - Singapore, 0.350% due 12/1/25 | 81 |
| 409143 | <sup>NOK</sup> |  | Skandinaviska Enskilda Banken AB - Stockholm, 2.720% due 12/1/25 | 40413 |
| 375 | <sup>ZAR</sup> |  | Standard Chartered Bank - Johannesburg, 4.580% due 12/1/25 | 22 |
|  |  |  | Sumitomo Mitsui Banking Corp. - Tokyo: |  |
| 26946173 | <sup>JPY</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.120% due 12/1/25 | 172500 |
| 45777 | <sup>GBP</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.910% due 12/1/25 | 60574 |
|  |  |  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $919,011) | **919011** |
|  |  |  | **TOTAL INVESTMENTS - 146.0%**<br> (Cost - $206,710,014) | **201817811** |
|  |  |  | Liabilities in Excess of Other Assets - (46.0)% | (63597644) |
|  |  |  | **TOTAL NET ASSETS - 100.0%** | $**138220167** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

†† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | |
|:---|:---|
| @ | The amount is less than 0.05%.  |

---

(a) Position, or portion thereof, has been segregated to collateralize reverse repurchase agreement.

(b) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2025.

(c) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30,
2025, amounts to $11,834,323 and represents 8.6% of net assets.

(d) Rating by Moody's Investors Service.

(e) Rating by Fitch Ratings Service.

(f) This security is traded on a TBA basis (see Note 1).

(g) All or a portion of this security was purchased in a sale-buyback transaction. The value of these securities
totals $34,664,680 which represents 25.1% of net assets.

(h) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

At November 30, 2025, for Inflation-Linked Fixed Income Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross<br>Unrealized<br>Appreciation** | **Gross Unrealized<br>(Depreciation)** | **Net Unrealized<br>(Depreciation)** |
|  Inflation-Linked Fixed Income Fund | $206710014 | $6751398 | $(10703760) | $(3952362) |

---

**<u>Abbreviations used in this schedule</u>:** 

---

| | |
|:---|:---|
|  ABS | Asset-Backed Security |
|  CLO | Collateralized Loan Obligation |
|  CPI | Consumer Price Index |
|  DAC | Designated Activity Company |
|  EURIBOR | Euro Interbank Offered Rate |
|  LLC | Limited Liability Company |
|  OAT | Obligations assimilables du Trésor |
|  PLC | Public Limited Company |
|  REMICS | Real Estate Mortgage Investment Conduits |
|  SOFR | Secured Overnight Financing Rate |

---

---

| | |
|:---|:---|
| **Summary of Investments by Security Type^** | |
|  U.S. Government Obligations | 77.7% |
|  Mortgage-Backed Securities | 9.8 |
|  Collateralized Mortgage Obligations | 5.9 |
|  Collateralized Loan Obligations | 3.9 |
|  Sovereign Bonds | 2.1 |
|  Corporate Bonds & Notes | 0.1 |
|  Short-Term Investments | 0.5 |
|  Total Investments | 100.0% |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund held the following Options Contracts Written:

**Interest Rate Swaptions** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Number of<br>Contracts** | **Notional<br>Amount†** | | **Security Name** | **Counterparty** | **Expiration<br>Date** | **Exercise<br>Rate** | **Value** |
| 6900000 | 142140 | <sup>EUR</sup> | OTC 2-Year Swaption, 3-Month EURIBOR, Call | BCLY | 1/25/27 | 2.440% | $40286 |
| 6900000 | 142140 | <sup>EUR</sup> | OTC 2-Year Swaption, 3-Month EURIBOR, Put | BCLY | 1/25/27 | 2.440% | 24291 |
|  |  |  | **TOTAL OPTIONS CONTRACTS WRITTEN**<br> (Premiums received — $122,966) |  |  |  | $**64577** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund held the following Reverse Repurchase Agreement:

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount†** | **Security** | **Value** |
| $32691186 | Nomura Securities International, Inc., 4.100% due 12/11/25 |  |
|  | (Proceeds — $32,691,186) | $**32691186** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

For the period ended November 30, 2025, the daily average borrowing and weighted average interest rate under the reverse repurchase agreements were $6,660,776 and 4.236%, respectively.

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund had open exchange-traded futures contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of**<br> **Contracts** | **Expiration**<br> **Date**<br> **(Month/Year)** | **Notional**<br> **Amount** | **Value** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Bobl Futures | 5 | 3/26 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678337 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678047 | $(290) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-BTP Futures | 18 | 12/25 | 2478752 | 2533441 | 54689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Bund Futures | 18 | 3/26 | 2699758 | 2697091 | (2667) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 5-Year Note Futures | 84 | 3/26 | 9187496 | 9220312 | 32816 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Long Bond Futures | 17 | 3/26 | 1980898 | 1996437 | 15539 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Ultra Long Bond Futures | 13 | 3/26 | 1557961 | 1572188 | 14227 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Ultra Long Bond Futures | 44 | 3/26 | 5070686 | 5112938 | 42252 |
|  |  |  |  |  | 156566 |
|  **Contracts to Sell:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-Buxl 30-Year Bond Futures | 12 | 12/25 | 1556900 | 1583619 | (26719) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro-OAT Futures | 44 | 12/25 | 6135488 | 6268372 | (132884) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan Government 10-Year Bond Futures | 1 | 12/25 | 869471 | 865054 | 4417 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 2-Year Note Futures | 105 | 3/26 | 21908906 | 21930234 | (21328) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 10-Year Note Futures | 127 | 3/26 | 14338983 | 14394656 | (55673) |
|  |  |  |  |  | (232187) |
|  Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts |  |  | $(75621) |

---

At November 30, 2025, Inflation-Linked Fixed Income Fund had deposited cash of $310,000 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund had open forward foreign currency contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy:** |  | | |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 841346 | USD | 546719 | BNP | $550871 | 12/2/25 | $4152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazilian Real | 9076084 | USD | 1648758 | JPM | 1675865 | 2/3/26 | 27107 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 171541 | USD | 224292 | BCLY | 226991 | 1/14/26 | 2699 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 344961 | USD | 451041 | BCLY | 456469 | 1/14/26 | 5428 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 27810 | USD | 37066 | BNP | 36800 | 12/2/25 | (266) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 118691 | USD | 158348 | MLP | 157058 | 12/2/25 | (1290) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 185000 | USD | 241996 | MLP | 244801 | 12/2/25 | 2805 |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 197499 | USD | 263494 | SCB | 261340 | 12/2/25 | (2154) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 2179902 | USD | 1545482 | HSBC | 1559245 | 12/2/25 | 13763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 848000 | USD | 119955 | BNP | 120106 | 12/19/25 | 151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 848000 | USD | 119941 | BNP | 120106 | 12/19/25 | 165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 70000 | USD | 81081 | BCLY | 81176 | 12/2/25 | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 77000 | USD | 88717 | BNP | 89293 | 12/2/25 | 576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 4693121 | USD | 5434165 | HSBC | 5442379 | 12/2/25 | 8214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 13296870 | USD | 150000 | BCLY | 148644 | 12/22/25 | (1356) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 1786406 | USD | 20000 | BCLY | 19960 | 12/31/25 | (40) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 8866595 | USD | 100000 | BNP | 99119 | 12/22/25 | (881) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 24908963 | USD | 279898 | DUB | 277796 | 1/30/26 | (2102) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 13529293 | USD | 151786 | DUB | 150885 | 1/30/26 | (901) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 68372511 | USD | 768108 | JPM | 762522 | 1/30/26 | (5586) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 13378404 | USD | 150228 | JPM | 149202 | 1/30/26 | (1026) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 1772926 | USD | 20000 | SCB | 19827 | 12/15/25 | (173) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 1786260 | USD | 20000 | SCB | 19959 | 12/31/25 | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1785791187 | USD | 107288 | BNP | 107209 | 12/17/25 | (79) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 2689951257 | USD | 161473 | BNP | 161490 | 12/17/25 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1468504661 | USD | 87285 | BNP | 88161 | 12/17/25 | 876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1502878854 | USD | 89782 | SCB | 90225 | 12/17/25 | 443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 20327902 | USD | 130032 | HSBC | 130132 | 12/2/25 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 73240659 | USD | 468141 | HSBC | 468860 | 12/2/25 | 719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 115497327 | USD | 739491 | SCB | 739372 | 12/2/25 | (119) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 76789171 | USD | 490321 | SCB | 491577 | 12/2/25 | 1256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 263754000 | USD | 180000 | BCLY | 179868 | 12/22/25 | (132) |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 174944603 | USD | 119999 | BNP | 119304 | 12/22/25 | (695) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 3118000 | USD | 168378 | BCLY | 168390 | 3/18/26 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 2258000 | USD | 121576 | BCLY | 123117 | 12/17/25 | 1541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 1887000 | USD | 101699 | BNP | 102088 | 3/2/26 | 389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 9730735 | USD | 523969 | DUB | 528054 | 1/29/26 | 4085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 44853 | USD | 2417 | HSBC | 2445 | 12/17/25 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 1912000 | USD | 102118 | HSBC | 104252 | 12/17/25 | 2134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 1070357 | USD | 57658 | JPM | 57923 | 2/27/26 | 265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 2582000 | USD | 139655 | JPM | 140784 | 12/17/25 | 1129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 3075822 | USD | 165118 | JPM | 167709 | 12/17/25 | 2591 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 3670000 | USD | 198460 | MLP | 198661 | 2/24/26 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 3157000 | USD | 170285 | MLP | 170908 | 2/23/26 | 623 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 4355540 | USD | 140000 | BCLY | 138990 | 12/22/25 | (1010) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 1880340 | USD | 60000 | BCLY | 60042 | 12/31/25 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 2856977 | USD | 92000 | BNP | 91169 | 12/22/25 | (831) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 1873740 | USD | 60000 | SCB | 59831 | 12/31/25 | (169) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 358795 | USD | 203508 | BNP | 205769 | 12/2/25 | 2261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Krone | 521689 | USD | 51015 | JPM | 51529 | 12/2/25 | 514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 2113101 | USD | 580036 | BCLY | 578331 | 1/23/26 | (1705) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 304465 | USD | 82692 | BNP | 83332 | 1/16/26 | 640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 109000 | USD | 29803 | JPM | 29834 | 1/16/26 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 182781 | USD | 49742 | JPM | 50028 | 1/16/26 | 286 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 512285 | USD | 138722 | JPM | 140207 | 1/23/26 | 1485 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 146000 | USD | 40100 | MLP | 39961 | 1/16/26 | (139) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 146000 | USD | 39987 | MLP | 39961 | 1/16/26 | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 145000 | USD | 39583 | MLP | 39687 | 1/16/26 | 104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 184000 | USD | 50239 | MLP | 50362 | 1/16/26 | 123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 178743 | USD | 48781 | MLP | 48923 | 1/16/26 | 142 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 2074304 | USD | 1593534 | HSBC | 1600666 | 12/2/25 | 7132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 44346 | USD | 55306 | BNP | 55484 | 1/14/26 | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 275566 | USD | 344042 | MLP | 342914 | 12/2/25 | (1128) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 105486 | USD | 3261 | BCLY | 3293 | 1/21/26 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 305 | USD | 9 | BNP | 9 | 12/8/25 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 982734 | USD | 30514 | BNP | 30608 | 12/8/25 | 94 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy: (continued)** |  | | |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 303 | USD | 9 | HSBC | $9 | 12/8/25 | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 901 | USD | 28 | HSBC | 28 | 1/21/26 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 237841 | USD | 7343 | HSBC | 7426 | 1/21/26 | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 1638657 | USD | 50515 | JPM | 51037 | 12/8/25 | 522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkish Lira | 30045460 | USD | 680000 | BCLY | 697114 | 12/19/25 | 17114 |
|  |  |  |  |  |  |  | 90498 |
|  **Contracts to Sell:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 841346 | USD | 546887 | BNP | 551049 | 1/14/26 | (4162) |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 1615000 | USD | 1056070 | HSBC | 1057421 | 12/2/25 | (1351) |
| &nbsp;&nbsp;&nbsp;&nbsp; Australian Dollar | 773654 | USD | 505569 | JPM | 506713 | 1/14/26 | (1144) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 344961 | USD | 451035 | BCLY | 456470 | 12/2/25 | (5435) |
| &nbsp;&nbsp;&nbsp;&nbsp; British Pound | 171541 | USD | 224289 | BCLY | 226992 | 12/2/25 | (2703) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 2175155 | USD | 1545482 | HSBC | 1559406 | 1/14/26 | (13924) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Dollar | 2180830 | USD | 1561254 | SCB | 1559908 | 12/2/25 | 1346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 1595926 | USD | 224587 | DUB | 226038 | 12/19/25 | (1451) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 1370000 | USD | 192656 | JPM | 194039 | 12/19/25 | (1383) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 1412482 | USD | 198760 | JPM | 200056 | 12/19/25 | (1296) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 3989609 | USD | 561504 | SCB | 565065 | 12/19/25 | (3561) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chinese Offshore Renminbi | 3496181 | USD | 492170 | SCB | 495178 | 12/19/25 | (3008) |
| &nbsp;&nbsp;&nbsp;&nbsp; Danish Krone | 130825 | USD | 20414 | JPM | 20314 | 12/2/25 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danish Krone | 197005 | USD | 30700 | MLP | 30591 | 12/2/25 | 109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 70000 | USD | 81273 | BCLY | 81370 | 1/14/26 | (97) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 43000 | USD | 49898 | BCLY | 49985 | 1/14/26 | (87) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 4654121 | USD | 5395634 | BNP | 5397152 | 12/2/25 | (1518) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 43000 | USD | 49817 | BNP | 49865 | 12/2/25 | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 4693121 | USD | 5447038 | HSBC | 5455430 | 1/14/26 | (8392) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 67000 | USD | 77270 | MLP | 77697 | 12/2/25 | (427) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 70000 | USD | 81068 | MLP | 81175 | 12/2/25 | (107) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euro | 49000 | USD | 56964 | MLP | 56823 | 12/2/25 | 141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indian Rupee | 5305442 | USD | 59596 | JPM | 59169 | 1/30/26 | 427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 609130066 | USD | 36354 | BCLY | 36569 | 12/17/25 | (215) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 575136273 | USD | 34589 | BCLY | 34528 | 12/17/25 | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 836100000 | USD | 50310 | BCLY | 50195 | 12/17/25 | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1890217908 | USD | 113004 | DUB | 113479 | 12/17/25 | (475) |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 2644390137 | USD | 158827 | JPM | 158755 | 12/17/25 | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 1154463138 | USD | 69451 | MLP | 69308 | 12/17/25 | 143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesian Rupiah | 414955925 | USD | 24947 | SCB | 24912 | 12/17/25 | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 295000 | USD | 90628 | BCLY | 90590 | 1/15/26 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 202000 | USD | 61971 | HSBC | 62031 | 1/15/26 | (60) |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 230000 | USD | 70151 | JPM | 70629 | 1/15/26 | (478) |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 227939 | USD | 69664 | JPM | 69996 | 1/15/26 | (332) |
| &nbsp;&nbsp;&nbsp;&nbsp; Israeli New Shekel | 114150 | USD | 35022 | JPM | 35054 | 1/15/26 | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 3779502 | USD | 24285 | BNP | 24307 | 1/14/26 | (22) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 72917408 | USD | 468141 | HSBC | 468954 | 1/14/26 | (813) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 20238648 | USD | 130032 | HSBC | 130161 | 1/14/26 | (129) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 82400000 | USD | 531410 | MLP | 527495 | 12/2/25 | 3915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 207251498 | USD | 1365687 | MLP | 1326749 | 12/2/25 | 38938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 76450261 | USD | 490321 | SCB | 491674 | 1/14/26 | (1353) |
| &nbsp;&nbsp;&nbsp;&nbsp; Japanese Yen | 114983381 | USD | 739491 | SCB | 739492 | 1/14/26 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 110713952 | USD | 75631 | DUB | 75570 | 1/8/26 | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 28189940 | USD | 19276 | MLP | 19242 | 1/8/26 | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 28399048 | USD | 19591 | MLP | 19384 | 1/8/26 | 207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Korean Won | 181968229 | USD | 124704 | MLP | 124205 | 1/8/26 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 187000 | USD | 9846 | BCLY | 10196 | 12/17/25 | (350) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 9685569 | USD | 523969 | DUB | 528106 | 12/17/25 | (4137) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexican Peso | 45184 | USD | 2417 | HSBC | 2445 | 2/25/26 | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 2483554 | USD | 81979 | BNP | 79426 | 1/22/26 | 2553 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 1826384 | USD | 60857 | BNP | 58253 | 12/15/25 | 2604 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 2856054 | USD | 94011 | BNP | 91339 | 1/22/26 | 2672 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 2427790 | USD | 80457 | BNP | 77643 | 1/22/26 | 2814 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 4588654 | USD | 150290 | BNP | 146749 | 1/22/26 | 3541 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 4398848 | USD | 145009 | BNP | 140678 | 1/22/26 | 4331 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 7231552 | USD | 236287 | BNP | 231271 | 1/22/26 | 5016 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 4963531 | USD | 163959 | BNP | 158737 | 1/22/26 | 5222 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 9316741 | USD | 305517 | MLP | 297956 | 1/22/26 | 7561 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Taiwan Dollar | 10086980 | USD | 331068 | SCB | 322589 | 1/22/26 | 8479 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 88000 | USD | 50248 | BCLY | 50468 | 12/2/25 | (220) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 323685 | USD | 185878 | BCLY | 185993 | 1/14/26 | (115) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 358795 | USD | 203877 | BNP | 206168 | 1/14/26 | (2291) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 48000 | USD | 27053 | BNP | 27528 | 12/2/25 | (475) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 184480 | USD | 105772 | BNP | 105799 | 12/2/25 | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 233000 | USD | 130625 | HSBC | 133626 | 12/2/25 | (3001) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 89000 | USD | 50456 | JPM | 51042 | 12/2/25 | (586) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand Dollar | 40000 | USD | 22476 | JPM | 22940 | 12/2/25 | (464) |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Krone | 521762 | USD | 51015 | JPM | 51529 | 1/14/26 | (514) |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Krone | 522955 | USD | 52026 | MLP | 51655 | 12/2/25 | 371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peruvian Sol | 187548 | USD | 52878 | MLP | 55782 | 12/17/25 | (2904) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 477000 | USD | 129918 | JPM | 130556 | 1/16/26 | (638) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 322000 | USD | 87781 | JPM | 88132 | 1/16/26 | (351) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency** | **Local Currency** | **In Exchange For** | **In Exchange For** | **Counterparty** | **Value** | **Settlement**<br> **Date** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 255004 | USD | 69742 | JPM | $69795 | 1/16/26 | $(53) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polish Zloty | 256063 | USD | 70144 | JPM | 70085 | 1/16/26 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 2067647 | USD | 1593534 | HSBC | 1600838 | 1/14/26 | (7304) |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore Dollar | 2074941 | USD | 1606332 | MLP | 1601158 | 12/2/25 | 5174 |
| &nbsp;&nbsp;&nbsp;&nbsp; South African Rand | 52000 | USD | 3024 | BCLY | 3039 | 12/4/25 | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 44572 | USD | 55306 | BNP | 55465 | 12/2/25 | (159) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 32000 | USD | 39693 | BNP | 39821 | 12/2/25 | (128) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 71000 | USD | 88670 | BNP | 88353 | 12/2/25 | 317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 33000 | USD | 40961 | JPM | 41065 | 12/2/25 | (104) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 24000 | USD | 30088 | JPM | 29865 | 12/2/25 | 223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 104000 | USD | 129151 | MLP | 129418 | 12/2/25 | (267) |
| &nbsp;&nbsp;&nbsp;&nbsp; Swiss Franc | 32815 | USD | 40945 | MLP | 41057 | 1/14/26 | (112) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 1630880 | USD | 50468 | BCLY | 50795 | 12/8/25 | (327) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thai Baht | 648313 | USD | 20019 | MLP | 20241 | 1/21/26 | (222) |
|  |  |  |  |  |  |  | 18382 |
|  Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts | Net Unrealized Appreciation on Open Forward Foreign Currency Contracts |  | $108880 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund held the following Centrally Cleared Interest Rate Swap Contracts:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed<br>Rate** | **Maturity<br>Date** | **Payment<br>Frequency** | **Notional**<br> **Amount** | **Notional**<br> **Amount** | **Value** | **Upfront<br>Payment<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  Pay | 6-Month EURIBOR | 2.750% | 3/18/36 | 12-Month | EUR | 4500000 | $(18077) | $(18964) | $887 |
|  Receive | 6-Month EURIBOR | 0.197% | 11/8/52 | 12-Month | EUR | 1100000 | 689501 |  | 689501 |
|  Receive | 6-Month EURIBOR | 3.000% | 3/18/56 | 12-Month | EUR | 50000 | 1074 | (769) | 1843 |
|  Receive | Bank of Japan Uncollateralized Overnight Call Rate | 0.300% | 9/20/27 | 6-Month | JPY | 5590000 | 453 | (1139) | 1592 |
|  Receive | Bank of Japan Uncollateralized Overnight Call Rate | 0.500% | 12/15/31 | 12-Month | JPY | 75000000 | 22982 | 1442 | 21540 |
|  Receive | Bank of Japan Uncollateralized Overnight Call Rate | 0.550% | 9/14/28 | 12-Month | JPY | 90000000 | 7993 | (1033) | 9026 |
|  Pay | SOFR | 2.340% | 11/21/28 | 6-Month | USD | 4130000 | (141816) |  | (141816) |
|  Receive | SOFR | 2.237% | 11/21/53 | 6-Month | USD | 810000 | 278105 |  | 278105 |
|  Receive | SOFR | 2.865% | 2/13/54 | 12-Month | USD | 1400000 | 282548 | 27102 | 255446 |
|  Receive | SOFR | 3.250% | 6/18/34 | 12-Month | USD | 2600000 | 65844 | 115634 | (49790) |
|  Receive | SOFR | 3.250% | 3/19/55 | 12-Month | USD | 3100000 | 412581 | 405813 | 6768 |
|  Receive | SOFR | 3.300% | 2/28/30 | 12-Month | USD | 1000000 | (1026) | (165) | (861) |
|  Receive | SOFR | 3.325% | 2/28/30 | 12-Month | USD | 1800000 | (3625) | (14021) | 10396 |
|  Receive | SOFR | 3.500% | 6/20/54 | 12-Month | USD | 700000 | 60296 | 18675 | 41621 |
|  Receive | SOFR | 3.700% | 5/15/35 | 12-Month | USD | 925000 | (9217) | (10565) | 1348 |
|  Receive | SOFR | 4.100% | 11/15/53 | 12-Month | USD | 998700 | (20678) | (25090) | 4412 |
|  Receive | SOFR | 4.250% | 12/20/25 | 12-Month | USD | 7740000 | 8654 | (28248) | 36902 |
|  Pay | Sterling Overnight Index Average | 3.750% | 9/17/30 | 12-Month | GBP | 5300000 | 35589 | (25628) | 61217 |
|  Pay | Sterling Overnight Index Average | 3.750% | 3/18/31 | 12-Month | GBP | 2400000 | 16181 | 10410 | 5771 |
|  |  |  |  |  |  |  | $1687362 | $453454 | $1233908 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund held the following Centrally Cleared Inflation Rate Swap Contracts:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | **Floating Rate Index** | **Fixed<br>Rate** | **Maturity<br>Date** | **Notional**<br> **Amount** | **Notional**<br> **Amount** | **Value** | **Upfront<br>Premiums<br>Paid/<br>(Received)** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  Pay | 2-Year EUR Inflation Linked | 1.636% | 6/15/27 | EUR | 2100000 | $7605 | $– | $7605 |
|  Pay | 2-Year EUR Inflation Linked | 2.000% | 2/15/27 | EUR | 300000 | (818) | (30) | (788) |
|  Pay | 5-Year EUR Inflation Linked | 3.000% | 5/15/27 | EUR | 200000 | 3641 | 100 | 3541 |
|  Receive | 10-Year EUR Inflation Linked | 1.380% | 3/15/31 | EUR | 740000 | (155577) | (8957) | (146620) |
|  Pay | 10-Year EUR Inflation Linked | 2.034% | 9/15/34 | EUR | 500000 | (5972) | (2239) | (3733) |
|  Receive | 30-Year EUR Inflation Linked | 2.421% | 5/15/52 | EUR | 30000 | 436 |  | 436 |
|  Receive | 30-Year EUR Inflation Linked | 2.590% | 12/15/52 | EUR | 100000 | 11411 |  | 11411 |
|  Receive | 30-Year EUR Inflation Linked | 2.590% | 3/15/52 | EUR | 200000 | 10846 | (2478) | 13324 |
|  Receive | 30-Year EUR Inflation Linked | 2.700% | 4/15/53 | EUR | 200000 | 31801 | 1337 | 30464 |
|  Receive | 30-Year EUR Inflation Linked | 2.736% | 10/15/53 | EUR | 100000 | 17190 | 1308 | 15882 |
|  Receive | 30-Year EUR Inflation Linked | 2.763% | 9/15/53 | EUR | 100000 | 18117 | (974) | 19091 |
|  Pay | 2-Year GBP Inflation Linked | 3.365% | 9/15/27 | GBP | 500000 | (3972) |  | (3972) |
|  Receive | 10-Year GBP Inflation Linked | 3.466% | 9/15/34 | GBP | 300000 | 10809 |  | 10809 |
|  Receive | 10-Year GBP Inflation Linked | 3.500% | 8/15/34 | GBP | 600000 | 24804 | 3390 | 21414 |
|  Receive | 1-Year USD Inflation Linked | 2.700% | 1/14/26 | USD | 200000 | (754) |  | (754) |
|  Receive | 1-Year USD Inflation Linked | 2.820% | 2/5/26 | USD | 700000 | (1627) |  | (1627) |
|  Receive | 1-Year USD Inflation Linked | 2.842% | 2/13/26 | USD | 800000 | (1613) |  | (1613) |
|  Receive | 1-Year USD Inflation Linked | 3.043% | 2/21/26 | USD | 400000 | 89 |  | 89 |
|  Receive | 1-Year USD Inflation Linked | 3.323% | 4/23/26 | USD | 400000 | 2069 |  | 2069 |
|  Receive | 1-Year USD Inflation Linked | 3.434% | 8/27/26 | USD | 1400000 | 7528 |  | 7528 |
|  Receive | 1-Year USD Inflation Linked | 3.435% | 8/1/26 | USD | 100000 | 483 |  | 483 |
|  Pay | 5-Year USD Inflation Linked | 2.703% | 5/25/26 | USD | 510000 | 50686 | 81 | 50605 |
|  Pay | 5-Year USD Inflation Linked | 2.768% | 5/13/26 | USD | 500000 | 48741 |  | 48741 |
|  Pay | 5-Year USD Inflation Linked | 2.813% | 5/14/26 | USD | 300000 | 28455 |  | 28455 |
|  Pay | 7-Year USD Inflation Linked | 1.798% | 8/25/27 | USD | 600000 | 105543 | 5868 | 99675 |
|  Pay | 7-Year USD Inflation Linked | 1.890% | 8/27/27 | USD | 700000 | 118146 | 1693 | 116453 |
|  Pay | 7-Year USD Inflation Linked | 2.573% | 8/26/28 | USD | 100000 | 7952 |  | 7952 |
|  Pay | 7-Year USD Inflation Linked | 2.645% | 9/10/28 | USD | 100000 | 7107 |  | 7107 |
|  Receive | 10-Year USD Inflation Linked | 1.280% | 5/19/30 | USD | 800000 | (179998) | (50027) | (129971) |
|  Receive | 10-Year USD Inflation Linked | 1.760% | 11/4/29 | USD | 1200000 | (211669) | (8764) | (202905) |
|  Receive | 10-Year USD Inflation Linked | 1.883% | 11/20/29 | USD | 1500000 | (245816) | 9233 | (255049) |
|  Pay | 10-Year USD Inflation Linked | 2.311% | 2/24/31 | USD | 2300000 | 283802 | 1035 | 282767 |
|  Receive | 10-Year USD Inflation Linked | 2.335% | 2/5/28 | USD | 960000 | (109704) | 59292 | (168996) |
|  Receive | 10-Year USD Inflation Linked | 2.353% | 5/9/28 | USD | 360000 | (39318) | 24122 | (63440) |
|  Receive | 10-Year USD Inflation Linked | 2.360% | 5/9/28 | USD | 540000 | (58516) | 36670 | (95186) |
|  Receive | 10-Year USD Inflation Linked | 2.364% | 5/10/28 | USD | 550000 | (59393) | 37569 | (96962) |
|  |  |  |  |  |  | $(277486) | $108229 | $(385715) |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund deposited cash collateral with brokers in the amount of $710,000 for open centrally cleared swap contracts.

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

---

| | |
|:---|:---|
| **<u>Currency abbreviations used in this schedule:</u>** | **<u>Currency abbreviations used in this schedule:</u>** |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| USD | United States Dollar |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| **<u>Counterparty abbreviations used in this schedule:</u>** | **<u>Counterparty abbreviations used in this schedule:</u>** |
| BCLY | Barclays Bank PLC |
| BNP | BNP Paribas SA |
| DUB | Deutsche Bank AG |
| HSBC | HSBC Bank USA |
| JPM | JPMorgan Chase & Co. |
| MLP | Merrill Lynch, Pierce, Fenner & Smith Inc. |
| SCB | Standard Chartered Bank |

---

**See pages 268-270 for definitions of ratings.** 

------

**Schedules of Investments** 

(unaudited) (continued)

**Inflation-Linked Fixed Income Fund** 

At November 30, 2025, Inflation-Linked Fixed Income Fund was involved in the following sale-buyback transactions:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Borrowing<br>Date** | **Maturity<br>Date** | **Borrowing<br>Rate** | **Amount<br>Borrowed** |
|  BNP Paribas SA | 11/14/25 | 12/2/25 | 4.180% | $519594 |
|  BNP Paribas SA | 11/14/25 | 12/2/25 | 4.180% | 6252487 |
|  BNP Paribas SA | 11/14/25 | 12/2/25 | 4.180% | 6663429 |
|  BNP Paribas SA | 11/14/25 | 12/2/25 | 4.180% | 6161931 |
|  BNP Paribas SA | 11/14/25 | 12/2/25 | 4.180% | 1411296 |
|  BNP Paribas SA | 11/14/25 | 12/2/25 | 4.180% | 1432028 |
|  BNP Paribas SA | 11/21/25 | 12/8/25 | 4.201% | 1132378 |
|  |  |  |  | $23573143 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 54.3%** | **CORPORATE BONDS & NOTES - 54.3%** | **CORPORATE BONDS & NOTES - 54.3%** | **CORPORATE BONDS & NOTES - 54.3%** |
| **Aerospace/Defense - 0.9%** | **Aerospace/Defense - 0.9%** | **Aerospace/Defense - 0.9%** | **Aerospace/Defense - 0.9%** |
| $2800000 | BBB- | Boeing Co. (The), Senior Unsecured Notes, 2.196% due 2/4/26 | $2788817 |
| **Agriculture - 0.7%** | **Agriculture - 0.7%** | **Agriculture - 0.7%** | **Agriculture - 0.7%** |
| 1600000 | BBB+ | BAT International Finance PLC, Company Guaranteed Notes, 1.668% due 3/25/26 | 1587339 |
|  |  | Imperial Brands Finance PLC, Company Guaranteed Notes: |  |
| 361000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 7/26/26 | 359335 |
| 300000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500% due 7/26/26(a) | 298617 |
|  |  | Total Agriculture | 2245291 |
| **Airlines - 0.7%** | **Airlines - 0.7%** | **Airlines - 0.7%** | **Airlines - 0.7%** |
| 307392 | BBB+ | American Airlines Class A Pass Through Trust, Pass-Thru Certificates, 3.700% due 10/1/26 | 305943 |
| 2100000 | BBB- | United Airlines Inc., Senior Secured Notes, 4.375% due 4/15/26(a) | 2098959 |
|  |  | Total Airlines | 2404902 |
| **Auto Manufacturers - 5.3%** | **Auto Manufacturers - 5.3%** | **Auto Manufacturers - 5.3%** | **Auto Manufacturers - 5.3%** |
| 2900000 | A- | American Honda Finance Corp., Senior Unsecured Notes, 4.784% (SOFR + 0.730%) due 8/13/27(b) | 2907307 |
| 1100000 | A | BMW U.S. Capital LLC, Company Guaranteed Notes, 5.035% (SOFR + 0.920%)<br>due 3/21/28(a)(b) | 1107636 |
| 300000 | BBB- | Ford Motor Co., Senior Unsecured Notes, 7.500% due 8/1/26 | 304249 |
|  |  | Ford Motor Credit Co. LLC, Senior Unsecured Notes: |  |
| 600000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950% due 6/10/26 | 606196 |
| 400000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.542% due 8/1/26 | 399467 |
| 800000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125% due 11/5/26 | 804010 |
| 1000000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.271% due 1/9/27 | 995714 |
| 500000 | BBB | General Motors Financial Co., Inc., Senior Unsecured Notes, 5.398%<br>(SOFR + 1.350%) due 5/8/27(b) | 502498 |
|  |  | Hyundai Capital America, Senior Unsecured Notes: |  |
| 700000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.592% (SOFR + 1.500%) due 1/8/27(a)(b) | 706425 |
| 500000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.100% (SOFR + 0.990%) due 3/25/27(a)(b) | 501868 |
| 1500000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.151% (SOFR + 1.040%) due 6/24/27(b) | 1505892 |
| 1100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.017% (SOFR + 0.920%) due 1/7/28(b) | 1102345 |
| 3400000 | A | Mercedes-Benz Finance North America LLC, Company Guaranteed Notes,<br>4.696% (SOFR + 0.630%) due 7/31/26(a)(b)(c) | 3405498 |
|  |  | Nissan Motor Acceptance Co. LLC, Senior Unsecured Notes: |  |
| 400000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000% due 3/9/26(a) | 398737 |
| 300000 | BB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.850% due 9/16/26(a) | 291779 |
| 200000 | BBB | Stellantis Finance U.S. Inc., Company Guaranteed Notes, 5.350% due 3/17/28(a) | 203192 |
|  |  | Toyota Motor Credit Corp., Senior Unsecured Notes: |  |
| 167000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.541% (SOFR + 0.450%) due 4/10/26(b) | 167161 |
| 35000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.506% (SOFR + 0.450%) due 5/15/26(b) | 35036 |
| 1200000 | BBB+ | Volkswagen Group of America Finance LLC, Company Guaranteed Notes,<br>4.945% (SOFR + 0.830%) due 3/20/26(a)(b) | 1201604 |
|  |  | Total Auto Manufacturers | 17146614 |
| **Banks - 20.6%** | **Banks - 20.6%** | **Banks - 20.6%** | **Banks - 20.6%** |
|  |  | ABN AMRO Bank NV, Senior Non-Preferred Notes: |  |
| 700000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.903% (SOFR + 1.780%) due 9/18/27(b) | 706664 |
| 800000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.903% (SOFR + 1.780%) due 9/18/27(a)(b) | 807617 |
| 800000 | A- | Banco Santander SA, Senior Non-Preferred Notes, 1.849% due 3/25/26 | 794200 |
|  |  | Bank of Montreal, Senior Unsecured Notes: |  |
| 319000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.939% (SOFR + 0.760%) due 6/4/27(b) | 320724 |
| 500000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.036% (SOFR + 0.880%) due 9/10/27(b) | 501585 |
| 462000 | A- | Bank of Nova Scotia (The), Senior Unsecured Notes, 4.739% (SOFR + 0.545%) due 3/2/26(b) | 462457 |
|  |  | Banque Federative du Credit Mutuel SA, Senior Preferred Notes: |  |
| 875000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.490% (SOFR + 1.400%) due 7/13/26(a)(b) | 880245 |
| 680000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.202% (SOFR + 1.130%) due 1/23/27(a)(b) | 684181 |
|  |  | Barclays PLC, Senior Unsecured Notes: |  |
| 500000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 1/12/26 | 500025 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** |
| **Banks - 20.6% - (continued)** | **Banks - 20.6% - (continued)** | **Banks - 20.6% - (continued)** | **Banks - 20.6% - (continued)** |
| $700000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.829% (SOFR + 2.210%) due 5/9/27(b) | $704805 |
| 640000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.024% (SOFR + 1.880%) due 9/13/27(b) | 646814 |
| 800000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.279% (1-Year CMT Index + 1.050%) due 11/24/27(b) | 785169 |
|  |  | BNP Paribas SA, Senior Non-Preferred Notes: |  |
| 1500000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.323% (SOFR + 1.004%) due 1/13/27(a)(b) | 1494565 |
| 1400000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.675% (SOFR + 0.912%) due 6/30/27(a)(b) | 1378932 |
|  |  | BPCE SA, Senior Non-Preferred Notes: |  |
| 250000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.975% (SOFR + 2.100%) due 1/18/27(b) | 250479 |
| 1400000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.045% (SOFR + 1.087%) due 10/19/27(a)(b) | 1374339 |
|  |  | Canadian Imperial Bank of Commerce, Senior Unsecured Notes: |  |
| 700000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.323% (SOFR + 1.220%) due 10/2/26(b) | 705196 |
| 1200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.972% (SOFR + 0.800%) due 9/8/28(b) | 1201900 |
|  |  | Cooperatieve Rabobank UA, Senior Non-Preferred Notes: |  |
| 2800000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.106% (1-Year CMT Index + 0.550%) due 2/24/27(a)(b) | 2779835 |
| 500000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.980% (1-Year CMT Index + 0.730%) due 12/15/27(a)(b) | 489232 |
|  |  | Credit Agricole SA: |  |
| 1225000 | A- | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes, 1.247% (SOFR + 0.892%) due 1/26/27(a)(b) | 1218988 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Senior Preferred Notes: |  |
| 600000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.389% (SOFR + 1.290%) due 7/5/26(b) | 603231 |
| 625000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.389% (SOFR + 1.290%) due 7/5/26(a)(b) | 628365 |
|  |  | Deutsche Bank AG, Senior Non-Preferred Notes: |  |
| 300000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100% due 1/13/26 | 299749 |
| 2000000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.146% (SOFR + 2.520%) due 7/13/27(b) | 2034508 |
| 935000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.275% (SOFR + 1.219%) due 11/16/27(b) | 939621 |
| 600000 | A | DNB Bank ASA, Senior Non-Preferred Notes, 1.535% (1-Year CMT Index + 0.720%) due 5/25/27(a)(b) | 592468 |
|  |  | Goldman Sachs Group Inc. (The), Senior Unsecured Notes: |  |
| 500000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.431% (SOFR + 0.798%) due 3/9/27(b) | 496237 |
| 1000000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.948% (SOFR + 0.913%) due 10/21/27(b) | 980446 |
| 130000 | A- | HSBC USA Inc., Senior Unsecured Notes, 5.159% (SOFR + 0.970%) due 6/3/28(b) | 130984 |
|  |  | ING Groep NV, Senior Unsecured Notes: |  |
| 2700000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.119% (SOFR + 1.010%) due 4/1/27(b) | 2705384 |
| 629000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.712% (SOFR + 1.560%) due 9/11/27(b) | 634039 |
|  |  | JPMorgan Chase & Co., Senior Unsecured Notes: |  |
| 1000000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.960% (3-Month Term SOFR + 1.507%) due 1/29/27(b) | 999384 |
| 339000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.244% (SOFR + 1.180%) due 2/24/28(b) | 341618 |
| 600000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.993% (SOFR + 0.920%) due 4/22/28(b) | 604107 |
| 800000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.933% (SOFR + 0.860%) due 10/22/28(b) | 804061 |
|  |  | Lloyds Banking Group PLC, Senior Unsecured Notes: |  |
| 300000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.613% (SOFR + 1.560%) due 8/7/27(b) | 302259 |
| 1275000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.684% (SOFR + 1.580%) due 1/5/28(b) | 1287959 |
| 1200000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.122% (SOFR + 1.060%) due 11/26/28(b) | 1206705 |
| 2700000 | A- | Mizuho Financial Group Inc., Senior Unsecured Notes, 5.127% (SOFR + 1.080%) due 5/13/31(b)(c) | 2703817 |
|  |  | National Bank of Canada, Company Guaranteed Notes: |  |
| 1100000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.010% (SOFR + 0.900%) due 3/25/27(b) | 1101520 |
| 2400000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.133% (SOFR + 1.030%) due 7/2/27(b) | 2407063 |
| 1510000 | A- | NatWest Group PLC, Senior Unsecured Notes, 5.316% (SOFR + 1.250%) due 3/1/28(b) | 1519810 |
|  |  | NatWest Markets PLC, Senior Unsecured Notes: |  |
| 200000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.869% (SOFR + 0.760%) due 9/29/26(b) | 200716 |
| 300000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.869% (SOFR + 0.760%) due 9/29/26(a)(b) | 301074 |
| 750000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.956% (SOFR + 0.900%) due 5/17/27(a)(b) | 754312 |
| 500000 | A | PNC Bank NA, Senior Unsecured Notes, 4.808% (SOFR + 0.730%) due 7/21/28(b) | 500095 |
|  |  | Royal Bank of Canada, Senior Unsecured Notes: |  |
| 2565000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.929% (SOFR + 0.820%) due 3/27/28(b) | 2575276 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** |
| **Banks - 20.6% - (continued)** | **Banks - 20.6% - (continued)** | **Banks - 20.6% - (continued)** | **Banks - 20.6% - (continued)** |
| $1700000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.940% (SOFR + 0.860%) due 10/18/28(b) | $1711120 |
| 2400000 | BBB | Santander UK Group Holdings PLC, Senior Unsecured Notes, 1.673% (SOFR + 0.989%) due 6/14/27(b) | 2366447 |
|  |  | Societe Generale SA, Senior Non-Preferred Notes: |  |
| 1800000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.488% (1-Year CMT Index + 1.100%) due 12/14/26(a)(b) | 1797603 |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.792% (1-Year CMT Index + 1.000%) due 6/9/27(a)(b) | 197309 |
| 3900000 | BBB+ | Standard Chartered PLC, Senior Unsecured Notes, 6.170%<br>(1-Year CMT Index + 2.050%) due 1/9/27(b) | 3907222 |
|  |  | Sumitomo Mitsui Financial Group Inc., Senior Unsecured Notes: |  |
| 2000000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.393% (SOFR + 1.300%) due 7/13/26(b) | 2013104 |
| 181000 | A- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.142% (SOFR + 1.050%) due 4/15/30(b) | 181258 |
|  |  | Sumitomo Mitsui Trust Bank Ltd., Senior Unsecured Notes: |  |
| 640000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.070% (SOFR + 1.120%) due 3/9/26(b) | 641447 |
| 350000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.302% (SOFR + 1.150%) due 9/14/26(b) | 352364 |
|  |  | Swedbank AB: |  |
| 1000000 | A | &nbsp;&nbsp;&nbsp;&nbsp; Senior Non-Preferred Notes, 5.337% due 9/20/27 | 1022215 |
| 800000 | AA- | &nbsp;&nbsp;&nbsp;&nbsp; Senior Preferred Notes, 5.524% (SOFR + 1.380%) due 6/15/26(b) | 804504 |
| 3000000 | A- | UBS Group AG, Senior Unsecured Notes, 1.305% (SOFR + 0.980%) due 2/2/27(a)(b)(c) | 2984972 |
|  |  | Wells Fargo & Co., Senior Unsecured Notes: |  |
| 1500000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850% (SOFR + 0.780%) due 1/24/28(b) | 1503526 |
| 1500000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.143% (SOFR + 1.070%) due 4/22/28(b) | 1509272 |
|  |  | Total Banks | 67335123 |
| **Beverages - 1.3%** | **Beverages - 1.3%** | **Beverages - 1.3%** | **Beverages - 1.3%** |
|  |  | Keurig Dr Pepper Inc., Company Guaranteed Notes: |  |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.550% due 9/15/26 | 197472 |
| 200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.636% (SOFR + 0.580%) due 11/15/26(b) | 199977 |
| 1296000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.024% (SOFR + 0.880%) due 3/15/27(b) | 1296719 |
| 2500000 | BBB | Molson Coors Beverage Co., Company Guaranteed Notes, 3.000% due 7/15/26 | 2484233 |
|  |  | Total Beverages | 4178401 |
| **Biotechnology - 0.1%** | **Biotechnology - 0.1%** | **Biotechnology - 0.1%** | **Biotechnology - 0.1%** |
| 300000 | BBB | Illumina Inc., Senior Unsecured Notes, 4.650% due 9/9/26 | 300900 |
| **Commercial Services - 0.1%** | **Commercial Services - 0.1%** | **Commercial Services - 0.1%** | **Commercial Services - 0.1%** |
| 300000 | BBB- | Global Payments Inc., Senior Unsecured Notes, 2.150% due 1/15/27 | 293035 |
| **Computers - 0.5%** | **Computers - 0.5%** | **Computers - 0.5%** | **Computers - 0.5%** |
| 1592000 | BBB | Dell International LLC/EMC Corp., Senior Unsecured Notes, 4.900% due 10/1/26 | 1600679 |
| **Diversified Financial Services - 4.0%** | **Diversified Financial Services - 4.0%** | **Diversified Financial Services - 4.0%** | **Diversified Financial Services - 4.0%** |
| 1700000 | BBB+ | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Company Guaranteed Notes, 2.450% due 10/29/26 | 1674619 |
|  |  | Air Lease Corp., Senior Unsecured Notes: |  |
| 1127000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875% due 1/15/26 | 1124901 |
| 1139000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875% due 8/15/26 | 1120215 |
| 3800000 | BBB | Aircastle Ltd., Company Guaranteed Notes, 4.250% due 6/15/26(c) | 3799525 |
|  |  | Aviation Capital Group LLC, Senior Unsecured Notes: |  |
| 200000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.950% due 1/30/26(a) | 199219 |
| 2420000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.950% due 9/20/26(a) | 2376399 |
|  |  | Avolon Holdings Funding Ltd., Company Guaranteed Notes: |  |
| 1100000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/15/26(a) | 1100494 |
| 441000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 2/21/26(a) | 438302 |
| 200000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375% due 5/1/26(a) | 199891 |
| 800000 | A+ | Equitable America Global Funding, Secured Notes, 4.854% (SOFR + 0.710%)<br>due 9/15/27(a)(b) | 801088 |
| 300000 | BBB+ | Nomura Holdings Inc., Senior Unsecured Notes, 5.359% (SOFR + 1.250%) due 7/2/27(b) | 302800 |
|  |  | Total Diversified Financial Services | 13137453 |
| **Electric - 4.2%** | **Electric - 4.2%** | **Electric - 4.2%** | **Electric - 4.2%** |
| 1236000 | BBB- | Algonquin Power & Utilities Corp., Senior Unsecured Notes, step bond to yield, 5.365%<br>due 6/15/26 | 1242428 |
| 2000000 | BBB | CenterPoint Energy Inc., Senior Unsecured Notes, 1.450% due 6/1/26 | 1973625 |
| 304000 | BBB | Duke Energy Corp., Senior Unsecured Notes, 2.650% due 9/1/26 | 300839 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** |
| **Electric - 4.2% - (continued)** | **Electric - 4.2% - (continued)** | **Electric - 4.2% - (continued)** | **Electric - 4.2% - (continued)** |
| $600000 | BBB | Enel Finance International NV, Company Guaranteed Notes, 3.625% due 5/25/27(a) | $595903 |
| 1500000 | BBB | Eversource Energy, Senior Unsecured Notes, 1.400% due 8/15/26 | 1470956 |
| 816000 | BBB+ | Exelon Corp., Senior Unsecured Notes, 3.400% due 4/15/26 | 813713 |
| 600000 | BBB+ | Fortis Inc., Senior Unsecured Notes, 3.055% due 10/4/26 | 594603 |
|  |  | Pacific Gas & Electric Co., 1st Mortgage Notes: |  |
| 1300000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150% due 1/1/26 | 1298313 |
| 1200000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950% due 3/1/26 | 1195384 |
| 300000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000% due 6/4/28 | 305014 |
|  |  | Southern California Edison Co., 1st Mortgage Notes: |  |
| 2200000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.200% due 2/1/26 | 2187400 |
| 800000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400% due 9/6/26 | 801239 |
| 600000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.300% due 3/1/28 | 612018 |
| 400000 | BBB- | Vistra Operations Co. LLC, Senior Secured Notes, 5.050% due 12/30/26(a) | 403710 |
|  |  | Total Electric | 13795145 |
| **Electronics - 0.3%** | **Electronics - 0.3%** | **Electronics - 0.3%** | **Electronics - 0.3%** |
| 500000 | A- | Amphenol Corp., Senior Unsecured Notes, 4.581% (SOFR + 0.530%) due 11/15/27(b) | 500916 |
| 600000 | BBB- | Vontier Corp., Company Guaranteed Notes, 1.800% due 4/1/26 | 594627 |
|  |  | Total Electronics | 1095543 |
| **Food - 1.1%** | **Food - 1.1%** | **Food - 1.1%** | **Food - 1.1%** |
| 2600000 | BBB- | Campbell's Co. (The), Senior Unsecured Notes, 5.300% due 3/20/26 | 2608534 |
| 1000000 | BBB- | Conagra Brands Inc., Senior Unsecured Notes, 7.125% due 10/1/26 | 1022824 |
|  |  | Total Food | 3631358 |
| **Gas - 0.2%** | **Gas - 0.2%** | **Gas - 0.2%** | **Gas - 0.2%** |
| 600000 | BBB- | National Fuel Gas Co., Senior Unsecured Notes, 5.500% due 10/1/26 | 606755 |
| **Healthcare - Products - 0.7%** | **Healthcare - Products - 0.7%** | **Healthcare - Products - 0.7%** | **Healthcare - Products - 0.7%** |
| 2200000 | BBB- | Baxter International Inc., Senior Unsecured Notes, 2.600% due 8/15/26 | 2172712 |
| **Healthcare - Services - 0.7%** | **Healthcare - Services - 0.7%** | **Healthcare - Services - 0.7%** | **Healthcare - Services - 0.7%** |
| 400000 | BBB- | Fresenius Medical Care U.S. Finance III Inc., Company Guaranteed Notes, 1.875%<br>due 12/1/26(a) | 390697 |
| 475000 | BBB- | HCA Inc., Company Guaranteed Notes, 4.500% due 2/15/27 | 476042 |
| 800000 | A+ | UnitedHealth Group Inc., Senior Unsecured Notes, 4.589% (SOFR + 0.500%) due 7/15/26(b) | 801023 |
| 600000 | BBB- | Universal Health Services Inc., Senior Secured Notes, 1.650% due 9/1/26 | 587523 |
|  |  | Total Healthcare - Services | 2255285 |
| **Insurance - 4.0%** | **Insurance - 4.0%** | **Insurance - 4.0%** | **Insurance - 4.0%** |
|  |  | Athene Global Funding, Secured Notes: |  |
| 2000000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.927% (SOFR + 0.830%) due 1/7/27(a)(b) | 2005306 |
| 300000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950% due 1/7/27(a) | 302447 |
| 1200000 | A+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.320% (SOFR + 1.210%) due 3/25/27(a)(b) | 1209200 |
| 1000000 | A | Brighthouse Financial Global Funding, Secured Notes, 5.550% due 4/9/27(a) | 1014680 |
| 800000 | A- | CNA Financial Corp., Senior Unsecured Notes, 4.500% due 3/1/26 | 800000 |
| 1000000 | A+ | Corebridge Global Funding, Secured Notes, 4.847% (SOFR + 0.750%) due 1/7/28(a)(b) | 999938 |
| 3500000 | A- | F&G Global Funding, Secured Notes, 1.750% due 6/30/26(a) | 3449243 |
| 300000 | A | GA Global Funding Trust, Secured Notes, 2.250% due 1/6/27(a) | 293760 |
|  |  | Jackson National Life Global Funding, Secured Notes: |  |
| 200000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.058% (SOFR + 0.890%) due 6/9/27(a)(b) | 201088 |
| 300000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.060% (SOFR + 0.970%) due 1/14/28(a)(b) | 300933 |
| 2000000 | A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.098% (SOFR + 0.950%) due 9/12/28(a)(b) | 2012394 |
| 600000 | A+ | Sammons Financial Group Global Funding, Senior Secured Notes, 5.044% (SOFR + 0.850%) due 9/2/27(a)(b) | 602517 |
|  |  | Total Insurance | 13191506 |
| **Internet - 0.7%** | **Internet - 0.7%** | **Internet - 0.7%** | **Internet - 0.7%** |
| 2300000 | BBB | Uber Technologies Inc., Company Guaranteed Notes, 4.500% due 8/15/29(a) | 2302460 |
| **Investment Companies - 0.2%** | **Investment Companies - 0.2%** | **Investment Companies - 0.2%** | **Investment Companies - 0.2%** |
| 600000 | Baa3(d) | FS KKR Capital Corp., Senior Unsecured Notes, 3.400% due 1/15/26 | 598729 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** | **CORPORATE BONDS & NOTES - 54.3% - (continued)** |
| **Leisure Time - 1.0%** | **Leisure Time - 1.0%** | **Leisure Time - 1.0%** | **Leisure Time - 1.0%** |
|  |  | Royal Caribbean Cruises Ltd., Senior Unsecured Notes: |  |
| $1000000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250% due 7/1/26(a) | $999655 |
| 1400000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375% due 7/15/27(a) | 1410987 |
| 200000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500% due 10/15/27 | 211366 |
| 600000 | BBB- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 4/1/28(a) | 610770 |
|  |  | Total Leisure Time | 3232778 |
| **Lodging - 0.1%** | **Lodging - 0.1%** | **Lodging - 0.1%** | **Lodging - 0.1%** |
| 300000 | BB+ | Las Vegas Sands Corp., Senior Unsecured Notes, 3.500% due 8/18/26 | 297929 |
| **Machinery - Diversified - 0.2%** | **Machinery - Diversified - 0.2%** | **Machinery - Diversified - 0.2%** | **Machinery - Diversified - 0.2%** |
| 500000 | BBB | Westinghouse Air Brake Technologies Corp., Company Guaranteed Notes, 3.450%<br>due 11/15/26 | 497088 |
| **Media - 0.1%** | **Media - 0.1%** | **Media - 0.1%** | **Media - 0.1%** |
| 220000 | BBB | Cox Communications Inc., Senior Unsecured Notes, 3.350% due 9/15/26(a) | 218583 |
| **Oil & Gas - 0.9%** | **Oil & Gas - 0.9%** | **Oil & Gas - 0.9%** | **Oil & Gas - 0.9%** |
| 200000 | BBB- | Expand Energy Corp., Company Guaranteed Notes, 6.750% due 4/15/29(a) | 201473 |
| 300000 | BBB- | Harbour Energy PLC, Company Guaranteed Notes, 5.500% due 10/15/26(a) | 298452 |
| 400000 | BBB | Variable Energi ASA, Senior Unsecured Notes, 5.000% due 5/18/27(a) | 404144 |
| 2000000 | BBB+ | Woodside Finance Ltd., Company Guaranteed Notes, 3.700% due 9/15/26(a) | 1991914 |
|  |  | Total Oil & Gas | 2895983 |
| **Packaging & Containers - 0.9%** | **Packaging & Containers - 0.9%** | **Packaging & Containers - 0.9%** | **Packaging & Containers - 0.9%** |
| 3000000 | BBB | Berry Global Inc., Senior Secured Notes, 1.570% due 1/15/26 | 2989889 |
| **Pharmaceuticals - 0.2%** | **Pharmaceuticals - 0.2%** | **Pharmaceuticals - 0.2%** | **Pharmaceuticals - 0.2%** |
| 700000 | BBB | Bayer U.S. Finance LLC, Company Guaranteed Notes, 6.125% due 11/21/26(a) | 711602 |
| **Pipelines - 1.2%** | **Pipelines - 1.2%** | **Pipelines - 1.2%** | **Pipelines - 1.2%** |
| 200000 | BBB | Energy Transfer LP, Senior Unsecured Notes, 5.500% due 6/1/27 | 203098 |
| 3400000 | BBB | MPLX LP, Senior Unsecured Notes, 1.750% due 3/1/26 | 3378376 |
| 37000 | BBB+ | Sabine Pass Liquefaction LLC, Senior Secured Notes, 5.875% due 6/30/26 | 37044 |
| 400000 | BBB+ | Williams Cos Inc. (The), Senior Unsecured Notes, 5.400% due 3/2/26 | 401412 |
|  |  | Total Pipelines | 4019930 |
| **Retail - 0.2%** | **Retail - 0.2%** | **Retail - 0.2%** | **Retail - 0.2%** |
| 600000 | A- | 7-Eleven Inc., Senior Unsecured Notes, 0.950% due 2/10/26(a) | 596166 |
| **Savings & Loans - 0.1%** | **Savings & Loans - 0.1%** | **Savings & Loans - 0.1%** | **Savings & Loans - 0.1%** |
|  |  | Nationwide Building Society, Senior Non-Preferred Notes: |  |
| 200000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.346% (SOFR + 1.290%) due 2/16/28(a)(b) | 201349 |
| 200000 | BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.346% (SOFR + 1.290%) due 2/16/28(b) | 201348 |
|  |  | Total Savings & Loans | 402697 |
| **Semiconductors - 0.3%** | **Semiconductors - 0.3%** | **Semiconductors - 0.3%** | **Semiconductors - 0.3%** |
|  |  | SK hynix Inc., Senior Unsecured Notes: |  |
| 400000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250% due 1/17/26 | 401443 |
| 300000 | BBB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500% due 1/16/27(a) | 304681 |
| 200000 | BBB- | Skyworks Solutions Inc., Senior Unsecured Notes, 1.800% due 6/1/26 | 197256 |
|  |  | Total Semiconductors | 903380 |
| **Software - 0.3%** | **Software - 0.3%** | **Software - 0.3%** | **Software - 0.3%** |
| 300000 | BBB | Fiserv Inc., Senior Unsecured Notes, 5.150% due 3/15/27 | 302837 |
| 700000 | A- | VMware LLC, Senior Unsecured Notes, 1.400% due 8/15/26 | 687745 |
|  |  | Total Software | 990582 |
| **Telecommunications - 1.9%** | **Telecommunications - 1.9%** | **Telecommunications - 1.9%** | **Telecommunications - 1.9%** |
| 2000000 | BBB- | Rogers Communications Inc., Company Guaranteed Notes, 3.625% due 12/15/25 | 1999398 |
| 4100000 | BBB | T-Mobile USA Inc., Company Guaranteed Notes, 2.250% due 2/15/26(c) | 4081981 |
|  |  | Total Telecommunications | 6081379 |
| **Trucking & Leasing - 0.7%** | **Trucking & Leasing - 0.7%** | **Trucking & Leasing - 0.7%** | **Trucking & Leasing - 0.7%** |
| 2263000 | BBB | Penske Truck Leasing Co. LP/PTL Finance Corp., Senior Unsecured Notes, 5.750%<br>due 5/24/26(a) | 2276682 |
|  |  | **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $176,530,687) | **177195376** |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6%** |
| **Asset-Backed Securities - 2.5%** | **Asset-Backed Securities - 2.5%** | **Asset-Backed Securities - 2.5%** | **Asset-Backed Securities - 2.5%** |
|  |  | Bain Capital Credit CLO Ltd.: |  |
| $110960 | BBB- | Bear Stearns Asset Backed Securities I Trust, Series 2005-CL1, Class A2, 2.491%<br>(1-Month Term SOFR + 0.614%) due 9/25/34(b) | $112042 |
| 386543 | AAA | CCG Receivables Trust, Series 2025-1, Class A2, 4.480% due 10/14/32(a) | 388514 |
| 1252119 | Aaa(d) | Dell Equipment Finance Trust, Series 2024-2, Class A2, 4.690% due 8/22/30(a) | 1254581 |
| 893955 | Aaa(d) | DLLAA LLC, Series 2025-1A, Class A2, 4.700% due 10/20/27(a) | 896933 |
| 420766 | Aaa(d) | DLLAD LLC, Series 2024-1A, Class A2, 5.500% due 8/20/27(a) | 422791 |
| 119203 | B- | Finance America Mortgage Loan Trust, Series 2004-2, Class M1, 4.894%<br>(1-Month Term SOFR + 0.939%) due 8/25/34(b) | 115900 |
| 18669 | A | Fremont Home Loan Trust, Series 2005-A, Class M3, 4.804%<br>(1-Month Term SOFR + 0.849%) due 1/25/35(b) | 18590 |
| 2000000 | AAA | M&T Equipment 2025-LEAF1 Notes, Series 2025-1A, Class A2, 4.700% due 12/16/27(a) | 2012975 |
| 124393 | BBB+ | MASTR Asset Backed Securities Trust, Series 2004-OPT2, Class A1, 4.769%<br>(1-Month Term SOFR + 0.814%) due 9/25/34(b) | 114151 |
|  |  | MMAF Equipment Finance LLC: |  |
| 16381 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A, Class A2, 5.790% due 11/13/26(a) | 16391 |
| 341623 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A2, 5.200% due 9/13/27(a) | 342698 |
| 323217 | B- | Morgan Stanley ABS Capital I Inc. Trust, Series 2004-HE4, Class M1, 4.969%<br>(1-Month Term SOFR + 1.014%) due 5/25/34(b)(e) | 348389 |
| 400000 | NR | Pagaya AI Debt Grantor Trust, Series 2025-6, Class A2, 4.497% due 4/15/33(a) | 400407 |
| 20893 | NR | Pagaya AI Debt Trust, Series 2024-1, Class A, 6.660% due 7/15/31(a) | 20980 |
| 86790 | NR | Stonepeak ABS, Series 2021-1A, Class AA, 2.301% due 2/28/33(a) | 84533 |
|  |  | Towd Point Mortgage Trust: |  |
| 177283 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES1, Class A1A, 5.848% due 1/25/64(a)(b) | 178499 |
| 184320 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES2, Class A1, step bond to yield, 5.348% due 7/25/65(a) | 185592 |
| 958776 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES3, Class A1A, step bond to yield, 5.278% due 8/25/65(a) | 963695 |
| 268529 | A-(f) | UPXL Issuer Trust, Series 2025-1, Class A, 5.160% due 1/25/47(a) | 270313 |
|  |  | Total Asset-Backed Securities | 8147974 |
| **Mortgage Securities - 20.1%** | **Mortgage Securities - 20.1%** | **Mortgage Securities - 20.1%** | **Mortgage Securities - 20.1%** |
| 95033 | Aaa(d) | AG Trust, Series 2024-NLP, Class A, 5.975% (1-Month Term SOFR + 2.016%)<br>due 7/15/41(a)(b) | 95441 |
| 464629 | AAA(f) | Barclays Mortgage Loan Trust, Series 2024-NQM1, Class A1, step bond to yield, 5.903%<br>due 1/25/64(a) | 467918 |
| 1600000 | NR | BWAY Mortgage Trust, Series 2021-1450, Class A, 5.323%<br>(1-Month Term SOFR + 1.364%) due 9/15/36(a)(b) | 1558968 |
| 420587 | AAA(f) | Chase Home Lending Mortgage Trust, Series 2024-9, Class A11, 5.322%<br>(30-Day Average SOFR + 1.250%) due 9/25/55(a)(b) | 420170 |
| 1326627 | Aaa(d) | Citigroup Mortgage Loan Trust, Series 2021-INV3, Class A11, 4.922%<br>(30-Day Average SOFR + 0.850%) due 5/25/51(a)(b) | 1232771 |
|  |  | Credit Suisse Commercial Mortgage Capital Trust: |  |
| 204234 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV1, Class A11, 4.872%<br>(30-Day Average SOFR + 0.800%) due 7/25/56(a)(b) | 190162 |
| 573486 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-RPL4, Class A1, 4.144% due 12/27/60(a)(b) | 571653 |
| 143206 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-RPL4, Class A1, 3.904% due 4/25/62(a)(b) | 138619 |
|  |  | Federal Home Loan Mortgage Corp. (FHLMC), REMICS: |  |
| 319537 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 4344, Class FA, 4.879% (30-Day Average SOFR + 0.564%) due 12/15/37(b) | 312858 |
| 374776 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 4351, Class FA, 4.879% (30-Day Average SOFR + 0.564%) due 5/15/38(b) | 367698 |
| 813928 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 4906, Class WF, 4.829% (30-Day Average SOFR + 0.514%) due 12/15/38(b) | 803896 |
| 735461 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5481, Class FJ, 5.222% (30-Day Average SOFR + 1.150%) due 12/25/54(b) | 737231 |
| 72528 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5484, Class FA, 5.272% (30-Day Average SOFR + 1.200%) due 12/25/54(b) | 72768 |
| 253235 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5491, Class FL, 5.272% (30-Day Average SOFR + 1.200%) due 1/25/55(b) | 254101 |
| 847527 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5495, Class AF, 5.222% (30-Day Average SOFR + 1.150%) due 1/25/55(b) | 849503 |
| 901097 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5496, Class AF, 5.172% (30-Day Average SOFR + 1.100%) due 1/25/55(b) | 902275 |
| 250177 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5500, Class GF, 5.022% (30-Day Average SOFR + 0.950%) due 10/25/54(b) | 250912 |
| 891523 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5508, Class QF, 5.022% (30-Day Average SOFR + 0.950%) due 2/25/55(b) | 894148 |
| 293600 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5511, Class FG, 5.222% (30-Day Average SOFR + 1.150%) due 3/25/55(b) | 294267 |
| 3199285 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5513, Class MF, 5.012% (30-Day Average SOFR + 0.940%) due 11/25/54(b) | 3207501 |
| 2118568 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5532, Class FA, 5.022% (30-Day Average SOFR + 0.950%) due 4/25/55(b) | 2124370 |
| 1644017 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5548, Class AF, 5.072% (30-Day Average SOFR + 1.000%) due 6/25/55(b) | 1652072 |
| 988269 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5565, Class FB, 5.022% (30-Day Average SOFR + 0.950%) due 8/25/55(b) | 989004 |
| 838483 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5567, Class FB, 5.072% (30-Day Average SOFR + 1.000%) due 8/25/55(b) | 842591 |
| 2064512 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5584, Class DF, 4.972% (30-Day Average SOFR + 0.900%) due 10/25/55(b) | 2068447 |
| 395989 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5593, Class FB, 4.972% (30-Day Average SOFR + 0.900%) due 11/25/55(b)(i) | 396826 |
| 489788 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 5607, Class FA, 5.095% (30-Day Average SOFR + 0.900%) due 12/25/55(b)(i) | 490390 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6% - (continued)** |
| **Mortgage Securities - 20.1% - (continued)** | **Mortgage Securities - 20.1% - (continued)** | **Mortgage Securities - 20.1% - (continued)** | **Mortgage Securities - 20.1% - (continued)** |
|  |  | Federal National Mortgage Association (FNMA), REMICS: |  |
| $637046 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-108, Class AF, 4.486% (30-Day Average SOFR + 0.414%) due 1/25/48(b) | $629002 |
| 199609 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-9, Class FA, 4.829% (30-Day Average SOFR + 0.514%) due 3/25/49(b) | 198164 |
| 739555 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-90, Class FB, 5.322% (30-Day Average SOFR + 1.250%) due 11/25/53(b) | 742969 |
| 895376 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-101, Class FB, 5.172% (30-Day Average SOFR + 1.100%) due 1/25/55(b) | 896576 |
| 419956 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-103, Class FC, 5.222% (30-Day Average SOFR + 1.150%) due 1/25/55(b) | 420933 |
| 594367 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-103, Class FJ, 5.272% (30-Day Average SOFR + 1.200%) due 1/25/55(b) | 596382 |
| 290268 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class FB, 5.272% (30-Day Average SOFR + 1.200%) due 12/25/53(b) | 291231 |
| 229370 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6, Class FA, 5.322% (30-Day Average SOFR + 1.250%) due 2/25/55(b) | 230394 |
| 417769 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-16, Class FA, 5.222% (30-Day Average SOFR + 1.150%) due 3/25/55(b) | 418762 |
| 442340 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-19, Class FC, 5.232% (30-Day Average SOFR + 1.160%) due 3/25/55(b) | 443623 |
| 1148334 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-40, Class FP, 5.072% (30-Day Average SOFR + 1.000%) due 10/25/54(b) | 1153804 |
| 694616 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-88, Class FM, 4.972% (30-Day Average SOFR + 0.900%) due 8/25/55(b) | 696112 |
| 7559481 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-88, Class KF, 5.122% (30-Day Average SOFR + 1.050%) due 9/25/55(b) | 7558842 |
| 2704172 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-95, Class F, 4.972% (30-Day Average SOFR + 0.900%) due 12/25/53(b)(i) | 2705721 |
| 1197160 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-99, Class KF, 5.072% (30-Day Average SOFR + 1.000%) due 11/25/55(b)(i) | 1195274 |
|  |  | GCAT Trust: |  |
| 536831 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM3, Class A1, 1.091% due 5/25/66(a)(b) | 475013 |
| 649608 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-HX1, Class A1, 2.885% due 12/27/66(a)(b) | 615933 |
|  |  | Government National Mortgage Association (GNMA): |  |
| 320945 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H06, Class FD, 5.140% (1-Month Term SOFR + 1.034%) due 7/20/65(b) | 322464 |
| 531366 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H15, Class FE, 5.581% (1-Year Term SOFR + 1.515%) due 7/20/67(b) | 539003 |
| 61588 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-17, Class EU, 2.500% due 10/20/49 | 55670 |
| 43078 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-21, Class AC, 2.500% due 1/20/49 | 39040 |
| 2721653 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-122, Class FA, 3.000% (30-Day Average SOFR + 0.400%) due 7/20/51(b) | 2392797 |
| 190894 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H11, Class FC, 5.199% (30-Day Average SOFR + 1.100%) due 5/20/73(b) | 194329 |
| 363350 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H24, Class FA, 5.049% (30-Day Average SOFR + 0.950%) due 10/20/73(b) | 367289 |
| 177250 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H27, Class FD, 5.199% (30-Day Average SOFR + 1.100%) due 11/20/73(b) | 180594 |
| 749944 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-H01, Class FB, 4.999% (30-Day Average SOFR + 0.900%) due 1/20/74(b) | 756175 |
| 7929962 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-135, Class FE, 5.249% (30-Day Average SOFR + 1.150%) due 8/20/55(b) | 7981344 |
| 350653 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H20, Class FA, 4.869% (30-Day Average SOFR + 0.770%) due 9/20/75(b) | 350985 |
| 349326 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H22, Class F, 4.879% (30-Day Average SOFR + 0.780%) due 10/20/75(b)(i) | 350343 |
| 908934 | AAA(f) | GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.750%<br>due 12/25/60(a)(b) | 857658 |
|  |  | GS Mortgage-Backed Securities Trust: |  |
| 644755 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GR2, Class A9, 5.000% (30-Day Average SOFR + 0.850%) due 2/25/52(a)(b) | 598989 |
| 220342 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV1, Class A9, 5.000% (30-Day Average SOFR + 0.850%) due 12/25/51(a)(b) | 205551 |
| 426730 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PJ7, Class A25, 5.392% (30-Day Average SOFR + 1.350%) due 11/25/54(a)(b) | 427888 |
| 137825 | BBB- | JPMorgan Chase Commercial Mortgage Securities Trust, Series 2019-FL12, Class A, 5.456%<br>(1-Month Term SOFR + 1.497%) due 12/15/31(a)(b) | 137433 |
|  |  | JPMorgan Mortgage Trust: |  |
| 137132 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-INV3, Class A3, 3.500% due 5/25/50(a)(b) | 125611 |
| 276232 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-12, Class A11, 5.000% (30-Day Average SOFR + 0.850%) due 2/25/52(a)(b) | 256643 |
| 173764 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM1, Class A1, step bond to yield, 5.591% due 6/25/65(a) | 175235 |
| 229453 | NR | Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, step bond to yield, 6.250%<br>due 7/25/67(a) | 229804 |
|  |  | MFA Trust: |  |
| 88868 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-NQM1, Class A1, 2.479% due 3/25/65(a)(b) | 86592 |
| 76854 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-NQM2, Class A1, 1.381% due 4/25/65(a)(b) | 75395 |
|  |  | Mill City Mortgage Loan Trust: |  |
| 289440 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GS2, Class A1, 2.750% due 8/25/59(a)(b) | 282419 |
| 209648 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NMR1, Class A1, 1.125% due 11/25/60(a)(b) | 202094 |
| 1485076 | Aaa(d) | Natixis Commercial Mortgage Securities Trust, Series 2021-APPL, Class A, 5.173%<br>(1-Month Term SOFR + 1.214%) due 8/15/38(a)(b) | 1449356 |
|  |  | New Residential Mortgage Loan Trust: |  |
| 122611 | NR | &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A, Class A1, 4.500% due 5/25/58(a)(b) | 120607 |
| 36745 | AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-RPL1, Class A1, 3.500% due 12/25/57(a)(b) | 35923 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Security** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6% - (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 22.6% - (continued)** |
| **Mortgage Securities - 20.1% - (continued)** | **Mortgage Securities - 20.1% - (continued)** | **Mortgage Securities - 20.1% - (continued)** |
| $1800000 AAA(f) | NYO Commercial Mortgage Trust, Series 2021-1290, Class A, 5.168%<br>(1-Month Term SOFR + 1.209%) due 11/15/38(a)(b) | $1794767 |
|  | OBX Trust: |  |
| 233148 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NQM5, Class A1, step bond to yield, 5.988% due 1/25/64(a) | 235170 |
| 442332 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NQM6, Class A1, step bond to yield, 6.447% due 2/25/64(a) | 450043 |
| 458448 Aaa(d) | Oceanview Mortgage Trust, Series 2025-3, Class AF1, 4.992%<br>(30-Day Average SOFR + 0.950%) due 5/25/55(a)(b) | 459675 |
| 200000 AAA(EXP)(f) | PRPM LLC, Series 2025-RCF6, Class A1, step bond to yield, 4.990% due 12/25/55(a) | 200348 |
| 157827 AAA(f) | PRPM Trust, Series 2024-NQM4, Class A1, step bond to yield, 5.674% due 12/26/69(a) | 158908 |
| 539784 AAA(f) | Sequoia Mortgage Trust, Series 2024-HYB1, Class A1A, 4.483% due 11/25/63(a)(b) | 544976 |
|  | Towd Point Mortgage Trust: |  |
| 199573 AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3, Class A1, 3.750% due 5/25/58(a)(b) | 196813 |
| 99020 Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HY2, Class A1, 5.069%<br>(1-Month Term SOFR + 1.114%) due 5/25/58(a)(b) | 101035 |
| 111108 Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HY3, Class A1A, 5.069%<br>(1-Month Term SOFR + 1.114%) due 10/25/59(a)(b) | 111275 |
| 352875 AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class A1, 2.710% due 1/25/60(a)(b) | 341163 |
| 497574 AAA(f) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SJ2, Class A1A, 2.250% due 12/25/61(a)(b) | 485507 |
| 139653 AAA(f) | Verus Securitization Trust, Series 2023-5, Class A1, step bond to yield, 6.476%<br>due 6/25/68(a) | 140350 |
| 221069 AA | WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR13, Class A1A1, 4.649% (1-Month Term SOFR + 0.694%) due 10/25/45(b) | 215867 |
|  | Total Mortgage Securities | 65688423 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br> (Cost - $74,530,969) | **73836397** |
| **ASSET-BACKED SECURITIES - 11.1%** | **ASSET-BACKED SECURITIES - 11.1%** | **ASSET-BACKED SECURITIES - 11.1%** |
| **Automobiles - 6.1%** | **Automobiles - 6.1%** | **Automobiles - 6.1%** |
| 1000000 AAA | American Heritage Auto Receivables Issuer Trust, Series 2025-1A, Class A2, 4.480%<br>due 8/15/28(a) | 1001935 |
| 1055269 AAA | ARI Fleet Lease Trust, Series 2024-B, Class A2, 5.540% due 4/15/33(a) | 1062961 |
| 1019451 Aaa(d) | Bank of America Auto Trust, Series 2023-1A, Class A3, 5.530% due 2/15/28(a) | 1026612 |
| 563439 AAA | CarMax Auto Owner Trust, Series 2024-3, Class A2B, 4.612%<br>(30-Day Average SOFR + 0.470%) due 9/15/27(b) | 563568 |
|  | Carvana Auto Receivables Trust: |  |
| 2769000 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-P1, Class A4, 5.940% due 1/10/29(a) | 2811005 |
| 983448 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-P2, Class A3, 5.420% due 4/10/28(a) | 986852 |
| 1145710 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-P4, Class A3, 6.160% due 10/10/28(a) | 1157042 |
| 1766144 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P1, Class A3, 5.050% due 4/10/29(a) | 1776784 |
| 2000000 Aaa(d) | Chase Auto Owner Trust, Series 2024-3A, Class A3, 5.220% due 7/25/29(a) | 2023919 |
| 322407 Aaa(d) | Chesapeake Funding II LLC, Series 2024-1A, Class A1, 5.520% due 5/15/36(a) | 325973 |
| 1000000 Aaa(d) | Hertz Vehicle Financing III LLC, Series 2023-1A, Class A, 5.490% due 6/25/27(a) | 1004296 |
| 1975000 AAA | LAD Auto Receivables Trust, Series 2024-3A, Class A3, 4.520% due 3/15/29(a) | 1983042 |
| 140224 Aaa(d) | Oscar US Funding XV LLC, Series 2023-1A, Class A3, 5.810% due 12/10/27(a) | 141190 |
| 97010 Aaa(d) | Oscar US Funding XVI LLC, Series 2024-1A, Class A2, 5.480% due 2/10/27(a) | 97046 |
| 200000 AAA | PenFed Auto Receivables Owner Trust, Series 2025-A, Class A3, 4.030% due 7/15/30(a) | 200595 |
| 1147030 Aaa(d) | SBNA Auto Lease Trust, Series 2024-B, Class A3, 5.560% due 11/22/27(a) | 1153359 |
| 455146 AAA | SCCU Auto Receivables Trust, Series 2023-1A, Class A3, 5.700% due 10/16/28(a) | 458472 |
|  | Toyota Auto Receivables Owner Trust: |  |
| 277036 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C, Class A3, 3.760% due 4/15/27 | 276899 |
| 1703408 AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class A2A, 4.460% due 3/15/28 | 1706876 |
| 131769 Aaa(d) | Toyota Lease Owner Trust, Series 2024-B, Class A2B, 4.539%<br>(30-Day Average SOFR + 0.440%) due 2/22/27(a)(b) | 131809 |
|  | Total Automobiles | 19890235 |
| **Credit Cards - 2.5%** | **Credit Cards - 2.5%** | **Credit Cards - 2.5%** |
| 1100000 Aaa(d) | Golden Credit Card Trust, Series 2022-1A, Class A, 1.970% due 1/15/29(a) | 1075681 |
| 2200000 Aaa(d) | Master Credit Card Trust II, Series 2024-1A, Class A, 4.886%<br>(30-Day Average SOFR + 0.750%) due 1/21/28(a)(b) | 2201692 |
|  | Trillium Credit Card Trust II: |  |
| 3000000 Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 4.778% (SOFR + 0.750%) due 12/26/28(a)(b) | 3001325 |
| 1800000 Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 4.618% (SOFR + 0.590%) due 9/26/30(a)(b) | 1802066 |
|  | Total Credit Cards | 8080764 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | **Rating††** | **Security** | **Value** |
| **ASSET-BACKED SECURITIES - 11.1% - (continued)** | **ASSET-BACKED SECURITIES - 11.1% - (continued)** | **ASSET-BACKED SECURITIES - 11.1% - (continued)** | **ASSET-BACKED SECURITIES - 11.1% - (continued)** |
| **Student Loans - 2.5%** | **Student Loans - 2.5%** | **Student Loans - 2.5%** | **Student Loans - 2.5%** |
|  |  | ECMC Group Student Loan Trust: |  |
| $408621 | Aa1(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-2A, Class A, 5.236% (30-Day Average SOFR + 1.164%) due 5/25/67(a)(b) | $410299 |
| 296506 | Aa1(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class A, 4.936% (30-Day Average SOFR + 0.864%) due 2/27/68(a)(b) | 293757 |
| 444461 | Aa1(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1A, Class A1B, 5.186% (30-Day Average SOFR + 1.114%) due 7/25/69(a)(b) | 445294 |
| 1239481 | AAA | ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.530% due 12/26/46(a) | 1117514 |
|  |  | Navient Private Education Loan Trust: |  |
| 277401 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-BA, Class A3, 5.523% (1-Month Term SOFR + 1.564%) due 7/16/40(a)(b) | 277941 |
| 167539 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A, Class A2B, 4.973% (1-Month Term SOFR + 1.014%) due 11/15/68(a)(b) | 167212 |
|  |  | Navient Private Education Refinance Loan Trust: |  |
| 104444 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GA, Class A, 1.170% due 9/16/69(a) | 98495 |
| 157332 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-IA, Class A1A, 1.330% due 4/15/69(a) | 147112 |
| 900000 | Aaa(d) | Navient Refinance Loan Trust, Series 2025-C, Class A, 4.800% due 10/15/55(a) | 903291 |
|  |  | Nelnet Student Loan Trust: |  |
| 437141 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-3A, Class A, 5.036% (30-Day Average SOFR + 0.964%) due 2/25/66(a)(b) | 437749 |
| 425361 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A, Class A, 5.086% (30-Day Average SOFR + 1.014%) due 6/27/67(a)(b) | 426067 |
| 338895 | AA+ | &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3A, Class A, 4.869% (1-Month Term SOFR + 0.914%) due 8/25/67(a)(b) | 339275 |
| 700000 | (P)Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DA, Class A1A, 4.650% due 8/20/54(a) | 703805 |
|  |  | SMB Private Education Loan Trust: |  |
| 150283 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-PTA, Class A2A, 1.600% due 9/15/54(a) | 142478 |
| 123637 | AAA | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-D, Class A1A, 1.340% due 3/17/53(a) | 116854 |
| 983169 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-B, Class A1B, 5.592% (30-Day Average SOFR + 1.450%) due 2/16/55(a)(b) | 993097 |
| 130397 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-B, Class A1B, 5.942% (30-Day Average SOFR + 1.800%) due 10/16/56(a)(b) | 133179 |
| 379507 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-C, Class A1B, 5.686% (30-Day Average SOFR + 1.550%) due 11/15/52(a)(b) | 382413 |
| 159385 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A1A, 5.240% due 3/15/56(a) | 163178 |
| 159385 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A1B, 5.592% (30-Day Average SOFR + 1.450%) due 3/15/56(a)(b) | 161091 |
| 198983 | Aaa(d) | Towd Point Asset Trust, Series 2021-SL1, Class A2, 4.774%<br>(1-Month Term SOFR + 0.814%) due 11/20/61(a)(b) | 198600 |
|  |  | Total Student Loans | 8058701 |
|  |  | **TOTAL ASSET-BACKED SECURITIES**<br> (Cost - $36,118,648) | **36029700** |
| **COLLATERALIZED LOAN OBLIGATIONS - 9.4%** | **COLLATERALIZED LOAN OBLIGATIONS - 9.4%** | **COLLATERALIZED LOAN OBLIGATIONS - 9.4%** | **COLLATERALIZED LOAN OBLIGATIONS - 9.4%** |
| **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** | **Commercial MBS - 0.1%** |
| 208682 | Aaa(d) | ACREC LLC, Series 2023-FL2, Class A, 6.189%<br>(1-Month Term SOFR + 2.230%) due 2/19/38(a)(b) | 209194 |
| 158274 | Aaa(d) | MF1 Ltd., Series 2020-FL4, Class A, 5.773%<br>(1-Month Term SOFR + 1.814%) due 12/15/35(a)(b) | 158306 |
|  |  | Total Commercial MBS | 367500 |
| **Other ABS - 9.3%** | **Other ABS - 9.3%** | **Other ABS - 9.3%** | **Other ABS - 9.3%** |
| 2000000 | Aaa(d) | Anchorage Credit Funding 19 Ltd., Series 2025-19A, Class A, 5.036% due 10/25/40(a) | 2006544 |
| 1600000 | AAA | Atlas Senior Loan Fund XVI Ltd., Series 2021-16A, Class AR, 5.019%<br>(3-Month Term SOFR + 1.100%) due 1/20/34(a)(b) | 1600400 |
| 1000000 | AAA | Atlas Senior Loan Fund XVIII Ltd., Series 2021-18A, Class A1R, 4.994%<br>(3-Month Term SOFR + 1.110%) due 1/18/35(a)(b) | 999222 |
| 1000000 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class A1R, 5.124%<br>(3-Month Term SOFR + 1.230%) due 7/16/34(a)(b) | 1001658 |
| 2500000 | Aaa(d) | &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A, Class A1R, 5.007%<br>(3-Month Term SOFR + 1.150%) due 4/22/35(a)(b) | 2498458 |
| 206010 | AAA | BlueMountain CLO Ltd., Series 2018-3A, Class A1R, 5.048%<br>(3-Month Term SOFR + 1.190%) due 10/25/30(a)(b) | 206434 |
| 86221 | Aaa(d) | Dryden 54 Senior Loan Fund, Series 2017-54A, Class AR, 5.034%<br>(3-Month Term SOFR + 1.150%) due 10/19/29(a)(b) | 86255 |
| 400000 | Aaa(d) | Dryden 95 CLO Ltd., Series 2021-95A, Class AR, 4.929%<br>(3-Month Term SOFR + 1.040%) due 8/20/34(a)(b) | 399709 |
| 337132 | Aaa(d) | Gallatin CLO VIII Ltd., Series 2017-1A, Class A1R, 5.256%<br>(3-Month Term SOFR + 1.352%) due 7/15/31(a)(b) | 337491 |
| 1300000 | Aaa(d) | Golub Capital Partners CLO 50B-R Ltd., Series 2020-50A, Class A1R2, 4.994%<br>(3-Month Term SOFR + 1.110%) due 4/20/35(a)(b) | 1299262 |
| 1132717 | AAA | Greywolf CLO III Ltd., Series 2020-3RA, Class A1R2, 5.087%<br>(3-Month Term SOFR + 1.230%) due 4/22/33(a)(b) | 1133905 |
| 97875 | Aaa(d) | KKR CLO 11 Ltd., Series 11, Class AR, 5.346%<br>(3-Month Term SOFR + 1.442%) due 1/15/31(a)(b) | 97948 |
| 400000 | NR | KKR CLO 16 Ltd., Series 16, Class A1R3, 4.988%<br>(3-Month Term SOFR + 1.140%) due 10/20/34(a)(b) | 400100 |
| 2000000 | AAA | KKR CLO 36 Ltd., Series 36A, Class AR, 5.055%<br>(3-Month Term SOFR + 1.150%) due 10/15/34(a)(b) | 1999994 |
| 1000000 | AAA | LCM 31 Ltd., Series 31A, Class AR, 5.164%<br>(3-Month Term SOFR + 1.280%) due 7/20/34(a)(b) | 1000614 |
| 171027 | Aaa(d) | LCM Loan Income Fund I Ltd., Series 1A, Class A, 5.176%<br>(3-Month Term SOFR + 1.292%) due 4/20/31(a)(b) | 171113 |
| 400000 | AAA | Neuberger Berman Loan Advisers CLO 43 Ltd., Series 2021-43A, Class AR, 4.932%<br>(3-Month Term SOFR + 1.050%) due 7/17/36(a)(b) | 400416 |
| 400000 | AAA | Neuberger Berman Loan Advisers CLO 45 Ltd., Series 2021-45A, Class AR, 4.972%<br>(3-Month Term SOFR + 1.060%) due 10/14/36(a)(b) | 399900 |
| 92643 | Aaa(d) | Octagon Investment Partners 39 Ltd., Series 2018-3A, Class AR, 5.034%<br>(3-Month Term SOFR + 1.150%) due 10/20/30(a)(b) | 92688 |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Face**<br> **Amount/Units†** | | **Rating††** | **Security** | **Value** |
| **COLLATERALIZED LOAN OBLIGATIONS - 9.4% - (continued)** | **COLLATERALIZED LOAN OBLIGATIONS - 9.4% - (continued)** | **COLLATERALIZED LOAN OBLIGATIONS - 9.4% - (continued)** | **COLLATERALIZED LOAN OBLIGATIONS - 9.4% - (continued)** | **COLLATERALIZED LOAN OBLIGATIONS - 9.4% - (continued)** |
| **Other ABS - 9.3% - (continued)** | **Other ABS - 9.3% - (continued)** | **Other ABS - 9.3% - (continued)** | **Other ABS - 9.3% - (continued)** | **Other ABS - 9.3% - (continued)** |
| $1600000 |  | NR | PPM CLO 5 Ltd., Series 2021-5A, Class AR, zero coupon<br>(3-Month Term SOFR + 1.180%) due 10/18/34(a)(b) | $1600400 |
| 2000000 |  | Aaa(d) | Rockford Tower CLO Ltd., Series 2021-2A, Class A1R, 5.014%<br>(3-Month Term SOFR + 1.130%) due 7/20/34(a)(b) | 2000596 |
| 424771 |  | AAA | Sound Point CLO XXVIII Ltd., Series 2020-3A, Class A1R, 5.138%<br>(3-Month Term SOFR + 1.280%) due 1/25/32(a)(b) | 425327 |
| 2000000 |  | AAA(f) | Symphony CLO XXIV Ltd., Series 2020-24A, Class A1R, 5.261%<br>(3-Month Term SOFR + 1.130%) due 10/23/35(a)(b) | 2000536 |
| 800000 |  | Aaa(d) | Symphony CLO XXIX Ltd., Series 2021-29A, Class AR, 5.433%<br>(3-Month Term SOFR + 1.150%) due 10/15/35(a)(b) | 800280 |
| 1600000 |  | NR | Symphony CLO XXV Ltd., Series 2021-25A, Class AR, 4.874%<br>(3-Month Term SOFR + 1.050%) due 4/19/34(a)(b) | 1600400 |
| 900000 |  | Aaa(d) | Symphony CLO XXXII Ltd., Series 2022-32A, Class AR, 5.419%<br>(3-Month Term SOFR + 1.150%) due 10/23/35(a)(b) | 900302 |
| 410848 |  | AAA | TIAA CLO IV Ltd., Series 2018-1A, Class A1AR, 5.024%<br>(3-Month Term SOFR + 1.140%) due 1/20/32(a)(b) | 411116 |
| 1000000 |  | AAA | Tralee CLO V Ltd., Series 2018-5A, Class A1RR, 4.964%<br>(3-Month Term SOFR + 1.080%) due 10/20/34(a)(b) | 999798 |
| 454287 |  | Aaa(d) | Venture 36 CLO Ltd., Series 2019-36A, Class A1AR, 5.276%<br>(3-Month Term SOFR + 1.392%) due 4/20/32(a)(b) | 454557 |
| 834243 |  | AAA(f) | Verdelite Static CLO Ltd., Series 2024-1A, Class A, 5.014%<br>(3-Month Term SOFR + 1.130%) due 7/20/32(a)(b) | 833837 |
| 2000000 |  | AAA | Wellfleet CLO Ltd., Series 2021-1A, Class A1R, 5.064%<br>(3-Month Term SOFR + 1.180%) due 4/20/34(a)(b) | 1999428 |
|  |  |  | Total Other ABS | 30158688 |
|  |  |  | **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br> (Cost - $30,513,474) | **30526188** |
| **U.S. GOVERNMENT OBLIGATIONS - 3.6%** | **U.S. GOVERNMENT OBLIGATIONS - 3.6%** | **U.S. GOVERNMENT OBLIGATIONS - 3.6%** | **U.S. GOVERNMENT OBLIGATIONS - 3.6%** | **U.S. GOVERNMENT OBLIGATIONS - 3.6%** |
|  |  |  | U.S. Treasury Inflation Indexed Notes: |  |
| 4607068 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 7/15/26 | 4582014 |
| 6180824 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.125% due 10/15/26 | 6128541 |
| 955582 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125% due 4/15/29 | 981191 |
|  |  |  | **TOTAL U.S. GOVERNMENT OBLIGATIONS**<br> (Cost - $11,705,185) | **11691746** |
| **MORTGAGE-BACKED SECURITIES - 2.4%** | **MORTGAGE-BACKED SECURITIES - 2.4%** | **MORTGAGE-BACKED SECURITIES - 2.4%** | **MORTGAGE-BACKED SECURITIES - 2.4%** | **MORTGAGE-BACKED SECURITIES - 2.4%** |
| **FHLMC - 0.2%** | **FHLMC - 0.2%** | **FHLMC - 0.2%** | **FHLMC - 0.2%** | **FHLMC - 0.2%** |
| 659593 |  |  | Federal Home Loan Mortgage Corp. (FHLMC), 4.000% due 6/1/49 - 9/1/49 | 637680 |
| **FNMA - 2.2%** | **FNMA - 2.2%** | **FNMA - 2.2%** | **FNMA - 2.2%** | **FNMA - 2.2%** |
| 7200000 |  |  | Federal National Mortgage Association (FNMA), 5.500% due 1/1/55(g) | 7285701 |
|  |  |  | **TOTAL MORTGAGE-BACKED SECURITIES**<br> (Cost - $7,940,610) | **7923381** |
|  |  |  | **TOTAL INVESTMENTS IN SECURITIES BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $337,339,573) | **337202788** |
| **SHORT-TERM INVESTMENTS - 4.4%** | **SHORT-TERM INVESTMENTS - 4.4%** | **SHORT-TERM INVESTMENTS - 4.4%** | **SHORT-TERM INVESTMENTS - 4.4%** | **SHORT-TERM INVESTMENTS - 4.4%** |
| **TIME DEPOSITS - 1.7%** | **TIME DEPOSITS - 1.7%** | **TIME DEPOSITS - 1.7%** | **TIME DEPOSITS - 1.7%** | **TIME DEPOSITS - 1.7%** |
| 21 | <sup>NZD</sup> |  | BBH - New York, 1.100% due 12/1/25 | 12 |
| 508 | <sup>EUR</sup> |  | Citibank - London, 0.880% due 12/1/25 | 589 |
| 5123005 |  |  | JPMorgan Chase & Co. - New York, 3.220% due 12/1/25 | 5123005 |
| 248548 |  |  | Sumitomo Mitsui Banking Corp. - Tokyo, 3.220% due 12/1/25 | 248548 |
|  |  |  | **TOTAL TIME DEPOSITS** <br> (Cost - $5,372,154) | **5372154** |
| **U.S. GOVERNMENT OBLIGATIONS - 2.7%** | **U.S. GOVERNMENT OBLIGATIONS - 2.7%** | **U.S. GOVERNMENT OBLIGATIONS - 2.7%** | **U.S. GOVERNMENT OBLIGATIONS - 2.7%** | **U.S. GOVERNMENT OBLIGATIONS - 2.7%** |
|  |  |  | U.S. Treasury Bills: |  |
| 7400000 |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.859% due 1/8/26(h) | 7369986 |
| 1500000 |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.775% due 2/26/26(h) | 1486442 |
|  |  |  | **TOTAL U.S. GOVERNMENT OBLIGATIONS**<br> (Cost - $8,856,428) | **8856428** |
|  |  |  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $14,228,582) | **14228582** |
|  |  |  | **TOTAL INVESTMENTS - 107.8%**<br> (Cost - $351,568,155) | **351431370** |
|  |  |  | Liabilities in Excess of Other Assets - (7.8)% | (25280527) |
|  |  |  | **TOTAL NET ASSETS - 100.0%** | $**326150843** |

---

† Amount denominated in U.S. dollars, unless otherwise noted.

†† All ratings are by Standard & Poor's Rating Service, unless otherwise noted.

(a) Restricted security that may be sold to "qualified institutional buyers" pursuant to the conditions
of Rule 144A under the Securities Act of 1933, as amended. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees, unless otherwise noted. The aggregate value of restricted 144A holdings at November 30,
2025, amounts to $147,705,802 and represents 45.3% of net assets.

(b) Variable rate security. Interest rate disclosed is that which was in effect at November 30, 2025.

(c) Position, or portion thereof, has been segregated to collateralize reverse repurchase agreement.

(d) Rating by Moody's Investors Service.

(e) Affiliated security. As of November 30, 2025, total cost and total value of affiliated security amounted
to $322,949 and $348,389, respectively.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Underlying Security** | **Beginning**<br> **Value as of**<br> **August 31, 2025** | **Purchases**<br> **at Cost** | **Proceeds**<br> **from Sales** | **Net Realized**<br> **Gain on Sales** | **Change in**<br> **Unrealized**<br> **Appreciation** | **Accretion**<br> **of discount** | **Dividend/**<br> **Interest**<br> **Income** | **Ending**<br> **Value as of**<br> **November 30, 2025** |
|  Morgan Stanley ABS Capital I Inc. Trust, Series 2004-HE4, Class M1, 4.969% (1-Month Term SOFR + 1.014%) due 5/25/34 | $350552 | $— | $(8548) | $8 | $6327 | $50 | $4273 | $348389 |

---

(f) Rating by Fitch Ratings Service.

(g) This security is traded on a TBA basis (see Note 1).

(h) Rate shown represents yield-to-maturity.

(i) Security is valued in good faith at fair value by or under the direction of the Board of Trustees.

At November 30, 2025, for Ultra-Short Term Fixed Income Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net<br>Unrealized<br>(Depreciation)** |
|  Ultra-Short Term Fixed Income Fund | $351568155 | $1402612 | $(1627546) | $(224934) |

---

---

| | |
|:---|:---|
| **<u>Abbreviations used in this schedule:</u>** | **<u>Abbreviations used in this schedule:</u>** |
|  ABS | Asset-Backed Security |
|  CLO | Collateralized Loan Obligation |
|  CMT | Constant Maturity Treasury Rate |
|  DAC | Designated Activity Company |
|  LLC | Limited Liability Company |
|  MASTR | Mortgage Asset Securitization Transactions, Inc. |
|  MBS | Mortgage-Backed Securities |
|  PLC | Public Limited Company |
|  REMICS | Real Estate Mortgage Investment Conduits |
|  SOFR | Secured Overnight Financing Rate |

---

---

| | |
|:---|:---|
| **Summary of Investments by Security Type^** | |
|  Corporate Bonds & Notes | 50.4% |
|  Collateralized Mortgage Obligations | 21.0 |
|  Asset-Backed Securities | 10.3 |
|  Collateralized Loan Obligations | 8.7 |
|  U.S. Government Obligations | 3.3 |
|  Mortgage-Backed Securities | 2.3 |
|  Short-Term Investments | 4.0 |
|  Total Investments | 100.0% |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

At November 30, 2025, Ultra-Short Term Fixed Income Fund held the following Reverse Repurchase Agreement:

---

| | | |
|:---|:---|:---|
| **Face**<br> **Amount†** | **Security** | **Value** |
| $16244388 | Royal Bank of Canada, 4.100% due 11/26/27 |  |
|  | (Proceeds - $16,244,388) | $**16244388** |

---

For the period ended November 30, 2025, the daily average borrowing and weighted average interest rate under the reverse repurchase agreements were $4,244,966 and 4.141%, respectively.

† Amount denominated in U.S. dollars, unless otherwise noted.

------

**Schedules of Investments** 

(unaudited) (continued)

**Ultra-Short Term Fixed Income Fund** 

At November 30, 2025, Ultra-Short Term Fixed Income Fund had open exchange-traded futures contracts as described below.

The unrealized appreciation (depreciation) on the open contracts were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts** | **Number of**<br> **Contracts** | **Expiration**<br> **Date**<br> **(Month/Year)** | **Notional**<br> **Amount** | **Value** | **Unrealized**<br> **Appreciation/**<br> **(Depreciation)** |
|  **Contracts to Buy:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3-Month SOFR Futures | 19 | 3/28 | $4599900 | $4603462 | $3562 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 5-Year Note Futures | 680 | 3/26 | 74423219 | 74640625 | 217406 |
|  |  |  |  |  | 220968 |
|  **Contracts to Sell:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 2-Year Note Futures | 1055 | 3/26 | 220114031 | 220346642 | (232611) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 10-Year Note Futures | 56 | 3/26 | 6322701 | 6347250 | (24549) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Ultra Long Bond Futures | 17 | 3/26 | 2037339 | 2055937 | (18598) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Ultra Long Bond Futures | 35 | 3/26 | 4033750 | 4067109 | (33359) |
|  |  |  |  |  | (309117) |
|  Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts | Net Unrealized Depreciation on Open Exchange-Traded Futures Contracts | $(88149) |

---

At November 30, 2025, Ultra-Short Term Fixed Income Fund had deposited cash of $1,543,000 with a broker or brokers as margin collateral on open exchange-traded futures contracts.

------

**Schedules of Investments** 

(continued)

**Ultra-Short Term Fixed Income Fund** 

---

| | |
|:---|:---|
| **<u>Currency abbreviations used in this schedule:</u>** | **<u>Currency abbreviations used in this schedule:</u>** |
| EUR | Euro |
| NZD | New Zealand Dollar |

---

**See pages 268-270 for definitions of ratings.** 

------

**Schedules of Investments** 

(unaudited) (continued)

**Alternative Strategies Fund** 

---

| | | |
|:---|:---|:---|
| **Units** | **Security** | **Value** |
| **OPEN END MUTUAL FUND SECURITIES - 98.6%** | **OPEN END MUTUAL FUND SECURITIES - 98.6%** | **OPEN END MUTUAL FUND SECURITIES - 98.6%** |
| **United States - 98.6%** | **United States - 98.6%** | **United States - 98.6%** |
| 589836 | AB Select U.S. Long/Short Portfolio, Class I | $9667406 |
| 1552589 | Abbey Capital Futures Strategy Fund, Class I | 17202682 |
| 1467933 | BlackRock Event Driven Equity Fund, Institutional Class | 15325224 |
| 661482 | BlackRock Global Equity Market Neutral Fund, Institutional Class | 9677487 |
| 1828213 | BlackRock Systematic Multi-Strategy Fund, Institutional Class | 19196232 |
| 486775 | BlackRock Tactical Opportunities Fund, Institutional Class\* | 7608295 |
| 793043 | BNY Mellon Global Real Return Fund, Class Y | 13545166 |
| 729757 | Calamos Market Neutral Income Fund, Class I | 11522863 |
| 70686 | Cohen & Steers Global Realty Shares Inc., Class I | 3990922 |
| 1771912 | John Hancock Diversified Macro Fund, Class I | 14972653 |
| 221019 | JPMorgan Hedged Equity Fund, Class I | 7775452 |
| 666776 | Neuberger Berman Long Short Fund, Institutional Class | 13508880 |
| 276681 | PIMCO CommodityRealReturn Strategy Fund, Institutional Class | 4105940 |
| 1354471 | PIMCO Credit Opportunities Bond Fund, Institutional Class | 13490534 |
| 2039070 | PIMCO Mortgage Opportunities and Bond Fund, Class I2 | 19248821 |
| 1076312 | Touchstone Flexible Income Fund, Institutional Class | 11290514 |
|  | **TOTAL INVESTMENTS - 98.6%**<br> (Cost - $181,780,902) | **192129071** |
|  | Other Assets in Excess of Liabilities - 1.4% | 2787379 |
|  | **TOTAL NET ASSETS - 100.0%** | $**194916450** |

---

\* Non-income producing security.

At November 30, 2025, for Alternative Strategies Fund the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Aggregate Cost For<br>Federal Income<br>Tax Purposes** | **Gross**<br> **Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>(Depreciation)** | **Net**<br> **Unrealized<br>Appreciation** |
|  Alternative Strategies Fund | $181780902 | $12399694 | $(2051525) | $10348169 |

---

---

| | |
|:---|:---|
| **Summary of Investments by Security Type^** | |
|  Open End Mutual Fund Securities | 100.0% |

---

---

| | |
|:---|:---|
| ^ | As a percentage of total investments.  |

---

------

**Ratings** 

The definitions of the applicable rating symbols are set forth below:

*Standard & Poor's Ratings Service ("Standard & Poor's")* — Ratings from "AA" to "CCC" may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.

AAA — Bonds rated "AAA" have the highest rating assigned by Standard & Poor's. Capacity to pay interest and repay principal is extremely strong.

AA — Bonds rated "AA" have a very strong capacity to pay interest and repay principal and differ from the highest rated issues only in a small degree.

A — Bonds rated "A" have a strong capacity to pay interest and repay principal although they are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.

BBB — Bonds rated "BBB" are regarded as having an adequate capacity to pay interest and repay principal. Whereas they normally exhibit adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for bonds in this category than in higher rated categories.

BB, B, CCC, CC and C — Bonds rated "BB", "B", "CCC", "CC" and "C" are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. "BB" represents the lowest degree of speculation and "C" the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.

D — Bonds rated "D" are in default and payment of interest and/or repayment of principal is in arrears.

P — Preliminary rating.

u — The upgrade state defines bonds that have recently been upgraded into higher rating categories.

*Moody's Investors Service ("Moody's")* — Numerical modifiers 1, 2 and 3 may be applied to each generic rating from "Aa" to "Caa," where 1 is the highest and 3 the lowest ranking within its generic category.

Aaa — Bonds rated "Aaa" are judged to be of the best quality. They carry the smallest degree of investment risk and are generally referred to as "gilt edge." Interest payments are protected by a large or by an exceptionally stable margin and principal is secure. While the various protective elements are likely to change, such changes as can be visualized are most unlikely to impair the fundamentally strong position of such issues.

Aa — Bonds rated "Aa" are judged to be of high quality by all standards. Together with the "Aaa" group they comprise what are generally known as high grade bonds. They are rated lower than the best bonds because margins of protection may not be as large as in "Aaa" securities or fluctuation of protective elements may be of greater amplitude or there may be other elements present which make the long-term risks appear somewhat larger than in "Aaa" securities.

A — Bonds rated "A" possess many favorable investment attributes and are to be considered as upper medium grade obligations. Factors giving security to principal and interest are considered adequate but elements may be present which suggest a susceptibility to impairment some time in the future.

Baa — Bonds rated "Baa" are considered as medium grade obligations, i.e., they are neither highly protected nor poorly secured. Interest payments and principal security appear adequate for the present but certain protective elements may be lacking or may be characteristically unreliable over any great length of time. Such bonds lack outstanding investment characteristics and in fact have speculative characteristics as well.

------

Ba — Bonds rated "Ba" are judged to have speculative elements; their future cannot be considered as well assured. Often the protection of interest and principal payments may be very moderate and therefore not well safeguarded during both good and bad times over the future. Uncertainty of position characterizes bonds in this class.

B — Bonds rated "B" generally lack characteristics of desirable investments. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small.

Caa — Bonds rated "Caa" are of poor standing. These may be in default, or present elements of danger may exist with respect to principal or interest.

Ca — Bonds rated "Ca" represent obligations which are speculative in a high degree. Such issues are often in default or have other marked short-comings.

C — Bonds rated "C" are the lowest class of bonds and issues so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing.

e — Expected.

u — Upgraded.

*Fitch Ratings Service ("Fitch")* — Ratings from "AA" to "CCC" may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.

AAA — Bonds rated "AAA" have the highest rating assigned by Fitch. Capacity to pay interest and repay principal is extremely strong.

AAApre — Stable Outlook rating is based on the pledge of securities in the escrow deposit fund securing the bonds and reflects the lien of the refunded bondholders on the escrow trust funds and that all amounts have been invested in direct non-callable obligations of the United States.

AA — Bonds rated "AA" have a very strong capacity to pay interest and repay principal and differ from the highest rated issues only in a small degree.

A — Bonds rated "A" have a strong capacity to pay interest and repay principal although they are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.

BBB — Bonds rated "BBB" are regarded as having an adequate capacity to pay interest and repay principal. Whereas they normally exhibit adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for bonds in this category than in higher rated categories.

BB, B, CCC, CC and C — Bonds rated "BB", "B", "CCC", "CC" and "C" are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. "BB" represents a lower degree of speculation than "B", and "CC" the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.

D — Bonds rated "D" are in default and payment of interest and/or repayment of principal is in arrears.

NR — Indicates that the bond is not rated by Standard & Poor's, Moody's, or Fitch.

WD, WR — Indicates that the bonds rating has been withdrawn and the issuer is no longer rated by Standard & Poor's, Moody's or Fitch.

------

**Short-Term Security Ratings** 

SP-1 — Standard & Poor's highest rating indicating very strong or strong capacity to pay principal and interest; those issues determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.

A-1 — Standard & Poor's highest commercial paper and variable-rate demand obligation (VRDO) rating indicating that the degree of safety regarding timely payment is either overwhelming or very strong; those issues determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.

VMIG 1 — Moody's highest rating for issues having a demand feature — VRDO.

MIG1 — Moody's highest rating for short-term municipal obligations.

P-1 — Moody's highest rating for commercial paper and for VRDO prior to the advent of the VMIG 1 rating.

F-1 — Fitch's highest rating indicating the strongest capacity for timely payment of financial commitments; those issues determined to possess overwhelming strong credit feature are denoted with a plus (+) sign.

F-2 — Fitch's rating indicating a good capacity for timely payment of financial commitments.

------

**1. Organization and Significant Accounting Policies** 

The Morgan Stanley Pathway Funds (the "Trust") is organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended ("1940 Act"), as an open-end management investment company. The Trust currently consists of Morgan Stanley Pathway Large Cap Equity ETF, Morgan Stanley Pathway Small-Mid Cap Equity ETF, International Equity Fund, Emerging Markets Equity Fund, Core Fixed Income Fund, High Yield Fund, International Fixed Income Fund, Municipal Bond Fund, Inflation-Linked Fixed Income Fund, Ultra-Short Term Fixed Income Fund and Alternative Strategies Fund (individually, a "Fund" and collectively, the "Funds"). Alternative Strategies Fund will allocate its assets among shares of mutual funds, exchange-traded funds or closed-end funds managed by a third party professional money manager ("Underlying Funds"). Each Fund is a diversified series of the Trust, except for International Fixed Income Fund, which is non-diversified.

The investment objectives of each Fund are as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Morgan Stanley Pathway Large Cap Equity ETF | Capital appreciation. |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Pathway Small-Mid Cap Equity ETF | Capital appreciation. |
| &nbsp;&nbsp;&nbsp;International Equity Fund | Capital appreciation. |
| &nbsp;&nbsp;&nbsp;Emerging Markets Equity Fund | Long-term capital appreciation. |
| &nbsp;&nbsp;&nbsp;Core Fixed Income Fund | Maximum total return, consistent with preservation of capital and prudent investment management. |
| &nbsp;&nbsp;&nbsp;High Yield Fund | A high level of current income primarily through investment in below-investment grade debt securities. |
| &nbsp;&nbsp;&nbsp;International Fixed Income Fund | Maximize current income, consistent with the protection of principal. |
| &nbsp;&nbsp;&nbsp;Municipal Bond Fund | A high level of interest income that is excluded from federal income taxation, to the extent consistent with prudent investment management and the preservation of capital. |
| &nbsp;&nbsp;&nbsp;Inflation-Linked Fixed Income Fund | Total return that exceeds the rate of inflation over an economic cycle. |
| &nbsp;&nbsp;&nbsp;Ultra-Short Term Fixed Income Fund | Total return, consistent with preservation of capital. |
| &nbsp;&nbsp;&nbsp;Alternative Strategies Fund | Long term growth of capital. |

---

Certain Funds may use derivative instruments including futures, options, forward foreign currency contracts, swaptions and swap contracts as part of their investment strategies. Following is a description of these derivative instruments, including the primary underlying risk exposures related to each instrument type:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) Futures Contracts.** Certain Funds may enter into futures contracts, to the extent permitted by their investment policies and objectives, for bonafide hedging and other permissible risk management purposes including protecting against anticipated changes in the value of securities a Fund intends to purchase.

The risks associated with entering into futures contracts include the possibility that a change in the value of the contract may not correlate with the changes in the value of the underlying instruments. In addition, investing in futures contracts involves the risk that the Fund could lose more than the original margin deposit due to subsequent payments that may be required for a futures transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii) Options Written.** Certain Funds may write options to manage exposure to certain changes in the market.

When writing a covered call option, a Fund may forego the opportunity of profit if the market price of the underlying security increases more than the premium received and the option is exercised. When writing a put option, a Fund may incur a loss if the market price of the underlying security decreases more than the premium received and the option is exercised. In addition, there is the risk that the Fund may not be able to enter into a closing transaction because of an illiquid secondary market.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii) Purchased Options.** Certain Funds may purchase options to manage exposure to certain changes in the market.

The purchase of protective puts is designed to offset or hedge against a decline in the market value of the Fund's securities. Put options may also be purchased by a Fund for the purpose of affirmatively benefiting from a decline in the price of securities which it does not own.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv) Inflation-Capped Options**. Certain Funds may write or purchase inflation-capped options to enhance returns or for hedging opportunities. The purpose of purchasing inflation-capped options is to protect a Fund from inflation erosion above a certain rate on a given notional exposure. A floor can be used to give downside protection to investments in inflation-linked products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(v) Forward Foreign Currency Contracts.** Certain Funds may enter into forward foreign currency contracts to hedge against foreign currency exchange rate risk on their non-U.S. dollar denominated securities or to facilitate settlement of foreign currency denominated portfolio transactions.

Forward foreign currency contracts involve elements of market risk in excess of the amounts reflected in the Statements of Assets and Liabilities. The Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(vi) Swaptions.** Swaptions contracts entered into by the Funds typically represent an option that gives the purchaser the right, but not the obligation, to enter into a swap contract on a future date. Certain Funds may purchase swaptions to manage exposure to fluctuations in interest rates and to enhance portfolio yield.

Certain Funds may write swaption contracts to manage exposure to fluctuations in interest rates and to enhance portfolio yield.

Entering into a swaption contract involves, to varying degrees, the elements of credit, market and interest rate risk, associated with both option contracts and swap contracts. To reduce credit risk from potential counterparty default, a Fund only enters into swaption contracts with counterparties that meet certain standards of creditworthiness. A Fund bears the market risk arising from any change in index values or interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(vii) Swap Contracts.** Swaps involve the exchange by a Fund with another party of the respective amounts payable with respect to a notional principal amount related to one or more indices. Certain Funds may enter into these transactions to preserve a return or spread on a particular investment or portion of its assets, as a duration management technique or to protect against any increase in the price of securities the Fund anticipates purchasing at a later date. Certain Funds may also use these transactions for speculative purposes, such as to obtain the price performance of a security without actually purchasing the security in circumstances where, for example, the subject security is illiquid, is unavailable for direct investment or available only on less attractive terms.

Swaps have risks associated with them, including possible default by the counterparty to the transaction, illiquidity and, where swaps are used as hedges, the risk that the use of a swap could result in losses greater than if the swap had not been employed. This risk is mitigated by the posting of collateral by the counterparty to the Fund to cover the Fund's exposure to the counterparty.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(viii) Credit Default Swaps.** Certain Funds may enter into credit default swap contracts for investment purposes, to manage their credit risk or to add leverage. Certain Funds may also purchase credit default swap contracts in order to hedge against the risk of default by debt securities held in their portfolios.

Entering into credit default swaps involves, to varying degrees, elements of credit and market risk. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there will be unfavorable changes in net interest rates. As privately negotiated transactions, swaps may involve risk, which is the risk that the swap contracts fail to contemplate a particular outcome or that the parties disagree about the proper interpretation of a transaction term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ix) Interest Rate Swaps.** Certain Funds may enter into interest rate swaps for investment purposes to manage exposure to fluctuations in interest rates or to add leverage. The primary risk associated with interest rate swaps is that unfavorable changes in interest rates could adversely impact a Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(x) Cross-Currency Swaps.** Certain Funds may enter into cross-currency swaps to gain or mitigate exposure to currency risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(xi) Volatility Swaps.** Volatility swaps are less standard in structure than other types of swaps and provide pure, or isolated, exposure to volatility risk of the specific underlying reference investment. Volatility swaps are typically used to speculate on future volatility levels, to trade the spread between realized and expected volatility, or to decrease the volatility exposure of investments held by the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(xii) Inflation Rate Swaps.** The Fund may enter into inflation rate swap contracts to attempt to hedge against inflation. Inflation rate swap contracts are subject to movements in interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(xiii) Total Return Swaps.** The Fund may enter into total return swap contracts to gain exposure and benefit from a reference asset (single asset, or a basket of assets) without actually having to own it.

**(a) Lending of Portfolio Securities.** At November 30, 2025, the aggregate market value of the loaned securities and the value of the collateral each Fund received were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Securities<br>on Loan (a)** | **Financial<br>Instrument** | **Collateral<br>Received (b)(c)** | **Net Amount**<br>**(Not Less than $0)** |
|  Morgan Stanley Pathway Large Cap Equity ETF | $60926 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $(60926) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  Morgan Stanley Pathway Small-Mid Cap Equity ETF | 976788 |  | (976788) | 0 |
|  International Equity Fund | 285487 |  | (285487) | 0 |
|  Emerging Markets Equity Fund | 1567956 |  | (1567956) | 0 |
|  Core Fixed Income Fund | 8624314 |  | (8624314) | 0 |
|  High Yield Fund | 16928134 |  | (16928134) | 0 |

---

<sup>(a)</sup> Represents market value of securities on loan at period end.

<sup>(b)</sup> The Funds received cash collateral of $61,463, $1,008,592, $353,814, $1,614,600, $8,915,314 and $17,635,401, respectively, which was subsequently invested in Invesco STIT - Government & Agency Portfolio as reported in the Schedules of Investments. In addition, the Funds received non-cash collateral of $0, $0, $0, $0, $0 and $0, respectively, in the form of U.S. Government Obligations, which the Funds cannot sell or repledge, and accordingly are not reflected in the Schedules of Investments. 

<sup>(c)</sup> The actual collateral received could be greater than the amount shown here due to overcollateralization. 

**(b) To-Be-Announced Purchase and Sale Commitments.** Certain Funds may trade securities on a to-be-announced ("TBA") basis. In a TBA transaction, a Fund commits to purchasing or selling securities which have not yet been issued by the issuer and for which specific information is not known, such as the face amount and maturity date and the underlying pool of investments in U.S. government agency mortgage pass-through transactions. Securities purchased on a TBA basis are not settled until they are delivered to the Fund, normally 15 to 45 days later. Beginning on the date the Fund enters into a TBA transaction, cash, U.S. government securities or other liquid high-grade debt obligations are segregated in an amount equal in value to the purchase price of the TBA security.

Additionally, when a Fund sells TBA securities without already owning or having the right to obtain the deliverable securities (an uncovered forward commitment to sell), it incurs a risk of loss because it could have to purchase the securities at a price that is higher than the price at which it sold them. A Fund may be unable to purchase the deliverable securities if the corresponding market is illiquid.

------

TBA securities subject to a forward commitment to sell at period end are included at the end of the Fund's Schedule of Investments under the caption "Schedule of Forward Sale Commitments."

**(c) Credit and Market Risk.** Certain Funds invest in high yield instruments that are subject to certain credit and market risks. The yields of high yield obligations reflect, among other things, perceived credit and market risks. Each Fund's investment in securities rated below investment grade typically involve risks not associated with higher rated securities, including, among others, greater risk related to timely and ultimate payment of interest and principal, greater market price volatility and less liquid secondary market trading.

**(d) Foreign Investment and Currency Risks.** Certain Funds' investments in foreign securities may involve risks not present in domestic investments. Because securities may be denominated in foreign currencies and may require settlement in foreign currencies and pay interest or dividends in foreign currencies, changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of a Fund. Foreign investments may also subject the Fund to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, all of which affect the market and/or credit risk of the investments.

------

**(e) Emerging Markets Risk.** In addition to foreign investment and currency risks, which tend to be amplified in emerging markets, emerging markets may experience rising interest rates, or, more significantly, rapid inflation or hyperinflation. The economies of emerging market countries may grow at slower rates than expected or suffer a downturn or recession. Emerging market securities may present market, credit, liquidity, legal, political and other risks different from, or greater than, the risks of investing in developed foreign countries.

**(f) Volatility Risk.** Volatility risk refers to the magnitude of the movement, but not the direction of the movement, in a financial instrument's price over a defined time period. Large increases or decreases in a financial instrument's price over a relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically indicate lower volatility risk.

**(g) Market Risk.** The value of an investment in the Fund is based on the values of the Fund's investments, which change due to economic and other events that affect the U.S. and global markets generally, as well as those that affect or are perceived or expected to affect particular regions, countries, industries, companies, issuers, sectors, asset classes or governments. The risks associated with these developments may be magnified if certain social, political, economic and other conditions and events adversely interrupt or otherwise affect the global economy and financial markets. Securities in the Fund's portfolio may underperform or otherwise be adversely affected due to inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates (or changes in interest rates), global demand for particular products or resources, market or financial system instability or uncertainty, embargoes, the treat or actual imposition of tariffs, sanctions and other trade barriers, natural disasters and extreme weather events, health emergencies (such as epidemics and pandemics), terrorism, regulatory events and governmental or quasi- governmental actions. The occurrence of global events, such as terrorist attacks, natural disasters, health emergencies, social and political (including geopolitical) discord and tensions or debt crises and downgrades, among others, may result in increased market volatility and may have long term effects on both the U.S. and global financial markets. The occurrence of such events may be sudden and unexpected, and it is difficult to predict when similar events affecting the U.S. or global financial markets or economies may occur, the effects that such events may have and the duration of those effects (which may last for extended periods). Any such event(s) could have a significant adverse impact on the value, liquidity and risk profile of the Fund's portfolio, as well as its ability to sell securities and/or meet redemptions. Any such event(s) or similar types of factors and developments, may also adversely affect the financial performance of the Fund's investments (and, in turn, the Fund's investment results) and/or negatively impact broad segments of businesses and populations and have a significant and rapid negative impact on the performance of the Fund's investments, and exacerbate preexisting risks to the Fund. In addition, no active trading market may exist for certain investments held by the Fund, which may impair the ability of the Fund to sell or to realize the current valuation of such investments in the event of the need to liquidate such assets.

------

**2. Fair Value Measurements** 

Under generally accepted accounting principles for fair value measurements, the Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities that segregates fair value measurements into levels (Level 1, 2 and 3). The three levels of the fair value hierarchy are as follows:

Level 1 – unadjusted quoted prices in active markets for identical securities.

Level 2 – significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – significant unobservable inputs (including assumptions made by the Manager or persons acting at their direction that are used in determining the fair value of investments).

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

The Funds' policy is to recognize transfers between levels at the end of the reporting period. In some instances, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

The following table summarizes the valuation of each Fund's assets and liabilities using the fair value hierarchy:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at<br>November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)<sup>(e)</sup>** |
|  **Morgan Stanley Pathway Large Cap Equity ETF** | **Morgan Stanley Pathway Large Cap Equity ETF** | **Morgan Stanley Pathway Large Cap Equity ETF** | **Morgan Stanley Pathway Large Cap Equity ETF** | **Morgan Stanley Pathway Large Cap Equity ETF** |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $360509905 <sup>(a)</sup> | $360509905 | $— | $— <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 373678282 | 373678282 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 134590183 | 134590183 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 98947886 | 98947886 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 531266559 | 531266559 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 351574859 | 351574859 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 342823730 | 342823730 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 1029562969 | 1029562969 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 84006509 | 84006509 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 75912099 | 75912099 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 68031545 | 68031545 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Right: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Right: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Right: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | 2071 | 2071 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 61463 | 61463 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 47940862 |  | 47940862 |  |
|  **Total Investments, at Value** | $**3498908922** **<sup>(a)</sup>** | $**3450968060** | $**47940862** | $**—** **<sup>(a)</sup>** |
|  **Securities Lending Transactions - Liabilities** | $**(61463)** | $**—** | $**(61463)** | $**—** |
|  **Other Financial Instruments - Assets<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | $450781 | $450781 | $— | $— |
|  **Total Other Financial Instruments - Assets** | $**450781** | $**450781** | $**—** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at<br>November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)<sup>(e)</sup>** |
|  **Morgan Stanley Pathway Small-Mid Cap Equity ETF** | **Morgan Stanley Pathway Small-Mid Cap Equity ETF** | **Morgan Stanley Pathway Small-Mid Cap Equity ETF** | **Morgan Stanley Pathway Small-Mid Cap Equity ETF** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $17433267 <sup>(a)</sup> | $17433267 | $— | $— <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 60698280 | 60698280 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 16864450 | 16864450 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 26723941 <sup>(a)</sup> | 26723941 |  | — <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 94584674 | 94584674 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 100689201 | 100686023 | 3178 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 149280336 | 149280336 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 118448466 | 118448466 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 28032882 | 28031431 | 1451 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 29344358 | 29243908 | 100450 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 27866633 | 27866633 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | 2728 | 2728 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 21 | 21 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrant: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 144 |  | 144 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 1008592 | 1008592 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 17323466 |  | 17323466 |  |
|  **Total Investments, at Value** | $**688301439** **<sup>(a)</sup>** | $**670872750** | $**17428689** | $**—** **<sup>(a)</sup>** |
|  **Securities Lending Transactions - Liabilities** | $**(1008592)** | $**—** | $**(1008592)** | $**—** |
|  **Other Financial Instruments - Assets<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contract | $94728 | $94728 | $— | $— |
|  **Total Other Financial Instruments - Assets** | $**94728** | $**94728** | $**—** | $**—** |
|  **Other Financial Instruments - Liabilities<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contract | $(14628) | $(14628) | $— | $— |
|  **Total Other Financial Instruments - Liabilities** | $**(14628)** | $**(14628)** | $**—** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at<br>November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)** |
|  **International Equity Fund** | **International Equity Fund** | **International Equity Fund** | **International Equity Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France | $147783168 <sup>(d)</sup> | $— | 147783168 <sup>(d)</sup> | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 104320472 <sup>(d)</sup> |  | 104320472 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | 235068627 <sup>(d)</sup> |  | 235068627 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 64992597 <sup>(d)</sup> | 519698 | 64472899 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 93583219 <sup>(d)</sup> | 875268 | 92707951 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 204067246 <sup>(d)</sup> | 2785633 | 201281613 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Countries<sup>(b)</sup> | 350791929 <sup>(d)</sup> | 59791897 | 291000032 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Germany | 1598957 <sup>(d)</sup> |  | 1598957 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Open End Mutual Fund Security: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 1158193 | 1158193 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 353814 | 353814 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 29091171 |  | 29091171 |  |
|  **Total Investments, at Value** | $**1232809393** | $**65484503** | $**1167324890** | $**—** |
|  **Security Lending Transactions - Liabilities** | $**(353814)** | $**—** | $**(353814)** | $**—** |
|  **Other Financial Instruments - Assets<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | $87234 | $87234 | $— | $— |
|  **Total Other Financial Instruments - Assets** | $**87234** | $**87234** | $**—** | $**—** |
|  **Other Financial Instruments - Liabilities<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contract | $(4321) | $(4321) | $— | $— |
|  **Total Other Financial Instruments - Liabilities** | $**(4321)** | $**(4321)** | $**—** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at<br>November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)<sup>(e)</sup>** |
|  **Emerging Markets Equity Fund** | **Emerging Markets Equity Fund** | **Emerging Markets Equity Fund** | **Emerging Markets Equity Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil | $34980183 | $34980183 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 138849842 <sup>(d)</sup> | 12146133 | 126703709 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India | 105811759 <sup>(d)</sup> | 18491554 | 87320205 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | 79638521 <sup>(d)</sup> |  | 79638521 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 125184627 <sup>(d)</sup> | 8118553 | 117066074 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Countries<sup>(b)</sup> | 180240326 <sup>(a)(d)</sup> | 49495935 | 130732402 <sup>(d)</sup> | 11989 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil | 4393778 | 4393778 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile | 276983 | 276983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombia | 218642 | 218642 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India | 3353 |  | 3353 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | 453688 | 453688 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | 4024057 <sup>(d)</sup> |  | 4024057 <sup>(d)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 1614600 | 1614600 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 11841081 |  | 11841081 |  |
|  **Total Investments, at Value** | $**687531440** **<sup>(a)</sup>** | $**130190049** | $**557329402** | $**11989** **<sup>(a)</sup>** |
|  **Security Lending Transactions - Liabilities** | $**(1614600)** | $**—** | $**(1614600)** | $**—** |
|  **Other Financial Instruments - Liabilities<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contract | $(10216) | $(10216) | $— | $— |
|  **Total Other Financial Instruments - Liabilities** | $**(10216)** | $**(10216)** | $**—** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at<br>November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant**<br>**Unobservable**<br>**Inputs (Level 3)<sup>(e)</sup>** |
|  **Core Fixed Income Fund** | **Core Fixed Income Fund** | **Core Fixed Income Fund** | **Core Fixed Income Fund** | **Core Fixed Income Fund** |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $553332373 | $— | $553332373 | $— <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | 491135732 |  | 491135732 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Obligations | 354900647 |  | 354900647 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | 247670860 |  | 247670860 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovereign Bonds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Countries<sup>(b)</sup> | 63396476 |  | 63396476 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | 36385117 |  | 36385117 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Open End Mutual Fund Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 3238063 | 3238063 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | 2487344 |  | 2487344 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Loans | 1481754 |  | 1481754 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Loan Obligation | 1060992 |  | 1060992 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Right: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 8915314 | 8915314 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 68087992 |  | 68087992 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Obligation | 21465403 |  | 21465403 |  |
|  **Total Investments, at Value** | $**1853558067** | $**12153377** | $**1841404690** | $**—** **<sup>(a)</sup>** |
|  **Securities Lending Transactions - Liabilities** | $**(8915314** | $**—** | $**(8915314** | $**—** |
|  **Other Financial Instruments - Assets<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | $639343 | $639343 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | 1344985 |  | 1344985 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swap | 57440 |  | 57440 |  |
|  **Total Other Financial Instruments - Assets** | $**2041768** | $**639343** | $**1402425** | $**—** |
|  **Other Financial Instruments - Liabilities<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | $(95014) | $(95014) | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | (617190) |  | (617190) |  |
|  **Total Other Financial Instruments - Liabilities** | $**(712204** | $**(95014)** | $**(617190** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at<br>November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)<sup>(e)</sup>** |
|  **High Yield Fund** | **High Yield Fund** | **High Yield Fund** | **High Yield Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $137144351 <sup>(a)</sup> | $— | $137144351 | $— <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Loans | 463115 |  | 463115 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Fund | 17635401 | 17635401 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 8162410 |  | 8162410 |  |
|  **Total Investments, at Value** | $**163405277** **<sup>(a)</sup>** | $**17635401** | $**145769876** | $**—** **<sup>(a)</sup>** |
|  **Securities Lending Transactions - Liabilities** | $**(17635401)** | $**—** | $**(17635401)** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)** |
|  **International Fixed Income Fund** | **International Fixed Income Fund** | **International Fixed Income Fund** | **International Fixed Income Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovereign Bonds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan | $13822218 | $— | $13822218 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spain | 13510622 |  | 13510622 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 9834672 |  | 9834672 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Countries<sup>(b)</sup> | 42760187 |  | 42760187 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | 61904207 |  | 61904207 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | 22359767 |  | 22359767 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | 16831442 |  | 16831442 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Obligations | 14281545 |  | 14281545 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | 9860307 |  | 9860307 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | 213117 |  | 213117 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bond | 210460 |  | 210460 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchased Options | 53490 |  | 53490 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Papers | 1692721 |  | 1692721 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 8855945 |  | 8855945 |  |
|  **Total Investments, at Value** | $**216190700** | $**—** | $**216190700** | $**—** |
|  **Other Financial Instruments - Assets<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | $1060576 | $1060576 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | 1433720 |  | 1433720 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps | 1585992 |  | 1585992 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTC Credit Default Swaps | 11574 |  | 11574 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps | 7271 |  | 7271 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTC Cross Currency Swaps | 1625261 |  | 1625261 |  |
|  **Total Other Financial Instruments - Assets** | $**5724394** | $**1060576** | $**4663818** | $**—** |
|  **Other Financial Instruments - Liabilities<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options Contracts Written | $(19023) | $— | $(19023) | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reverse Repurchase Agreements | (4793807) |  | (4793807) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Sale Commitments | (22730472) |  | (22730472) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | (92712) | (92712) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | (969634) |  | (969634) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTC Total Return Swap | (520020) |  | (520020) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTC Interest Rate Swaps | (106614) |  | (106614) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps | (2620973) |  | (2620973) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTC Credit Default Swaps | (8233) |  | (8233) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swap | (4852) |  | (4852) |  |
|  **Total Other Financial Instruments - Liabilities** | $**(31866340)** | $**(92712)** | $**(31773628)** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)** |
|  **Municipal Bond Fund** | **Municipal Bond Fund** | **Municipal Bond Fund** | **Municipal Bond Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | $76480757 | $— | $76480757 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposit | 9938287 |  | 9938287 |  |
|  **Total Investments, at Value** | $**86419044** | $**—** | $**86419044** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)** |
|  **Inflation-Linked Fixed Income Fund** | **Inflation-Linked Fixed Income Fund** | **Inflation-Linked Fixed Income Fund** | **Inflation-Linked Fixed Income Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Obligations | $156862004 | $— | $156862004 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | 19808458 |  | 19808458 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | 11984786 |  | 11984786 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | 7860529 |  | 7860529 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovereign Bonds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Countries<sup>(b)</sup> | 4200293 |  | 4200293 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | 182730 |  | 182730 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 919011 |  | 919011 |  |
|  **Total Investments, at Value** | $**201817811** | $**—** | $**201817811** | $**—** |
|  **Other Financial Instruments - Assets<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | $163940 | $163940 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | 209525 |  | 209525 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps | 1426375 |  | 1426375 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Inflation Rate Swaps | 785901 |  | 785901 |  |
|  **Total Other Financial Instruments - Assets** | $**2585741** | $**163940** | $**2421801** | $**—** |
|  **Other Financial Instruments - Liabilities<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options Contracts Written | $(64577) | $— | $(64577) | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reverse Repurchase Agreement | (32691186) |  | (32691186) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | (239561) | (239561) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | (100645) |  | (100645) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps | (192467) |  | (192467) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Inflation Rate Swaps | (1171616) |  | (1171616) |  |
|  **Total Other Financial Instruments - Liabilities** | $**(34460052)** | $**(239561)** | $**(34220491)** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)** |
|  **Ultra-Short Term Fixed Income Fund** | **Ultra-Short Term Fixed Income Fund** | **Ultra-Short Term Fixed Income Fund** | **Ultra-Short Term Fixed Income Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | $177195376 | $— | $177195376 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | 73836397 |  | 73836397 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | 36029700 |  | 36029700 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | 30526188 |  | 30526188 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Obligations | 11691746 |  | 11691746 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | 7923381 |  | 7923381 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits | 5372154 |  | 5372154 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Obligations | 8856428 |  | 8856428 |  |
|  **Total Investments, at Value** | $**351431370** | $**—** | $**351431370** | $**—** |
|  **Other Financial Instruments - Assets<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | $220968 | $220968 | $— | $— |
|  **Total Other Financial Instruments - Assets** | $**220968** | $**220968** | $**—** | $**—** |
|  **Other Financial Instruments - Liabilities<sup>(c)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reverse Repurchase Agreement | $(16244388) | $— | $(16244388) | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | (309117) | (309117) |  |  |
|  **Total Other Financial Instruments - Liabilities** | $**(16553505)** | $**(309117)** | $**(16244388)** | $**—** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total Fair Value at**<br>**November 30, 2025** | **Unadjusted Quoted Prices**<br>**in Active Markets**<br>**for Identical Investments**<br>**(Level 1)** | **Significant Observable**<br>**Inputs (Level 2)** | **Significant<br>Unobservable<br>Inputs (Level 3)** |
|  **Alternative Strategies Fund** | **Alternative Strategies Fund** | **Alternative Strategies Fund** | **Alternative Strategies Fund** |  |
|  **Investments, at Value** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Open End Mutual Fund Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | $192129071 | $192129071 | $— | $— |
|  **Total Investments, at Value** | $**192129071** | $**192129071** | $**—** | $**—** |

---

<sup>(a)</sup> Includes securities that are fair valued using significant unobservable inputs at $0. 

<sup>(b)</sup> Other countries represents countries that are individually less than 5% of Net Assets. 

<sup>(c)</sup> Swaps, futures contracts and forward foreign currency contracts are valued at the unrealized appreciation (depreciation) on the instrument and option contracts written, forward sale commitments and reverse repurchase agreements are shown at value.

<sup>(d)</sup> Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

<sup>(e)</sup> None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.

---

| | |
|:---|:---|
| <sup>†</sup> | The value is less than $0.50.  |

---

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant for any of the Funds and accordingly, a reconciliation of Level 3 assets for the fiscal year to date ended November 30, 2025 is not presented.

There were no significant transfers in or out of Level 3 for the period ended November 30, 2025 for any of the Funds.

For information on each Fund's policy regarding the valuation of investments and other significant accounting policies, please refer to the Funds' most recent financial statements included in the semi-annual or annual report to shareholders.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MORGAN STANLEY PATHWAY FUNDS

- **b. Investment Company Act file number:** 811-06318

- **c. CIK number of Registrant:** 0000875186

- **d. LEI of Registrant:** 549300P3RUTI9W6SLI87

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

  - **Street Address 1:** 2000 Westchester Avenue

  - **City:** Purchase

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10577

  - **Telephone number:** 888-454-3965

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

- **a. Name of Series:** Ultra-Short Term Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000052237

- **c. LEI of Series:** 549300WRUOSKJP4FVL84

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $459156043.81

**Total Liabilities:** $133610125.87

**Net Assets:** $325545917.94

**Cash Not Reported:** $5751125.42

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -3133.21120956 | **1-Year:** -19953.20623529 | **5-Year:** -14134.83045509 | **10-Year:** -9751.32500353 | **30-Year:** -2476.79493782

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -29.62111977 | **1-Year:** -72.01287765 | **5-Year:** -98.55785848 | **10-Year:** -25.58874296 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000164313 | 0.37%                | 0.33%                | 0.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $79284.95                | $23206.77                                  |
| Month 2  | $-53944.73               | $-60777.80                                 |
| Month 3  | $-36028.16               | $66406.11                                  |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** SEC_PORT

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COOPERATIEVE RABO V/R 12/15/27 | COOPERATIEVE RABOBANK UA REGD V/R 144A P/P 1.98000000                                          | CUSIP: 74977RDL5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $489232.15     | 0.15%             | 2027-12-15      | Variable      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATIO 5.05% 12/30/26 | VISTRA OPERATIONS CO LLC REGD 144A P/P 5.05000000                                              | CUSIP: 92840VAT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $403710.40     | 0.12%             | 2026-12-30      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| GSMBS 2021-RPL1  V/R 12/25/60  | GS MORTGAGE-BACKED SECURITIES CORP TRUST 2021 SER 2021-RPL1 CL A1 V/R REGD 144A P/P 1.75000000 | CUSIP: 36261WAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    908934 | PA      | $857658.05     | 0.26%             | 2060-12-25      | Variable      | 1.75%                 | Yes           |                  2 | On Loan: No      |
| BANCO SANTANDE 1.849% 03/25/26 | BANCO SANTANDER SA REGD 1.84900000                                                             | CUSIP: 05964HAL9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    800000 | PA      | $794200.24     | 0.24%             | 2026-03-25      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| FHR 5500 GF V/R 10/25/54       | FREDDIE MAC REMICS SER 5500 CL GF V/R 5.02180000                                               | CUSIP: 3137HJB30<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    250177 | PA      | $250912.42     | 0.08%             | 2054-10-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| FNR 2025-6 FA V/R 02/25/55     | FANNIE MAE REMICS SER 2025-6 CL FA V/R 5.32180000                                              | CUSIP: 3136BUTN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    229370 | PA      | $230393.84     | 0.07%             | 2055-02-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN V/R 07/31/26 | MERCEDES-BENZ FIN NA REGD V/R 144A P/P 4.69612100                                              | CUSIP: 58769JAV9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3405498.00    | 1.05%             | 2026-07-31      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| KEURIG DR PEPPER  V/R 03/15/27 | KEURIG DR PEPPER INC REGD V/R 5.02405700                                                       | CUSIP: 49271VAS9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1296000 | PA      | $1296718.64    | 0.40%             | 2027-03-15      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| CSMC 2022-RPL4 A V/R 03/01/62  | CSMC 2022-RPL4 TRUST SER 2022-RPL4 CL A1 V/R REGD 144A P/P 3.90435000                          | CUSIP: 12663TAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    143206 | PA      | $138618.69     | 0.04%             | 2062-04-25      | Variable      | 3.90%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO & COM V/R 01/24/28 | WELLS FARGO & COMPANY REGD V/R 4.85024100                                                      | CUSIP: 95000U3S0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1503526.35    | 0.46%             | 2028-01-24      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CRE 4.271% 01/09/27 | FORD MOTOR CREDIT CO LLC REGD 4.27100000                                                       | CUSIP: 345397A45<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995714.15     | 0.31%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CAN V/R 03/27/28 | ROYAL BANK OF CANADA REGD V/R MTN SER GMTN 4.92872000                                          | CUSIP: 78017DAG3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   2565000 | PA      | $2575275.67    | 0.79%             | 2028-03-27      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| KKR 36A AR V/R 10/15/34        | KKR CLO 36 LTD SER 36A CL AR V/R REGD 144A P/P 5.05454000                                      | CUSIP: 48255AAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1999994.00    | 0.61%             | 2034-10-15      | Variable      | 5.05%                 | Yes           |                  2 | On Loan: No      |
| FNR 2024-101 FB V/R 01/25/55   | FANNIE MAE REMICS SER 2024-101 CL FB V/R 5.17180000                                            | CUSIP: 3136BUFJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    895376 | PA      | $896575.52     | 0.28%             | 2055-01-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL V/R 09/08/28 | CANADIAN IMPERIAL BANK REGD V/R 4.97192300                                                     | CUSIP: 13607QFC1<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   1200000 | PA      | $1201899.60    | 0.37%             | 2028-09-08      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA V/R 09/15/27 | EQUITABLE AMERICA GLOBAL REGD V/R 144A P/P 4.85405700                                          | CUSIP: 29446Q2D4<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |    800000 | PA      | $801087.72     | 0.25%             | 2027-09-15      | Variable      | 4.85%                 | Yes           |                  2 | On Loan: No      |
| NRZT 2018-3A A1 V/R 05/25/58   | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-3 SER 2018-3A CL A1 V/R REGD 144A P/P 4.50000000      | CUSIP: 64830KAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    122611 | PA      | $120607.04     | 0.04%             | 2058-05-25      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CRVNA 2024-P1  5.05% 04/10/29  | CARVANA AUTO RECEIVABLES TRUST 2024-P1 SER 2024-P1 CL A3 REGD 144A P/P 5.05000000              | CUSIP: 14688NAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1766144 | PA      | $1776784.22    | 0.55%             | 2029-04-10      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| GNR 2020-17 EU 2.5% 10/20/49   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2020-17 CL EU 2.50000000                          | CUSIP: 38382CP47<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     61588 | PA      | $55669.91      | 0.02%             | 2049-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SWEDBANK AB V/R 06/15/26       | SWEDBANK AB REGD V/R REG S 5.52405800                                                          | CUSIP: W9T23YJK0<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    800000 | PA      | $804504.22     | 0.25%             | 2026-06-15      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AI 3.45% 11/15/26 | WESTINGHOUSE AIR BRAKE REGD 3.45000000                                                         | CUSIP: 960386AL4<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497088.28     | 0.15%             | 2026-11-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD 4.25% 06/15/26   | AIRCASTLE LTD REGD 4.25000000                                                                  | CUSIP: 00928QAS0<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | US        |   3800000 | PA      | $3799524.96    | 1.17%             | 2026-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TIA 2018-1A A1AR V/R 01/20/32  | TIAA CLO IV LTD SER 2018-1A CL A1AR V/R REGD 144A P/P 5.00996000                               | CUSIP: 88631YAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    410848 | PA      | $411116.32     | 0.13%             | 2032-01-20      | Variable      | 5.01%                 | Yes           |                  2 | On Loan: No      |
| ATHENE GLOBAL FUN V/R 03/25/27 | ATHENE GLOBAL FUNDING REGD V/R 144A P/P 5.32020000                                             | CUSIP: 04685A3U3<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1209200.39    | 0.37%             | 2027-03-25      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP 1.875% 08/15/26 | AIR LEASE CORP REGD 1.87500000                                                                 | CUSIP: 00914AAM4<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1139000 | PA      | $1120215.11    | 0.34%             | 2026-08-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE I 3.625% 05/25/27 | ENEL FINANCE INTL NV REGD P/P 3.62500000                                                       | CUSIP: 29278GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    600000 | PA      | $595903.24     | 0.18%             | 2027-05-25      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| GSMBS 2021-INV1  V/R 12/25/43  | GS MORTGAGE-BACKED SECURITIES TRUST 2021-INV1 SER 2021-INV1 CL A9 V/R REGD 144A P/P 5.00000000 | CUSIP: 36263KAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    220342 | PA      | $205550.66     | 0.06%             | 2051-12-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FHR 5548 AF V/R 06/25/55       | FREDDIE MAC REMICS SER 5548 CL AF V/R 5.07180000                                               | CUSIP: 3137HLJG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1644017 | PA      | $1652072.19    | 0.51%             | 2055-06-25      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM5 A1 V/R 03/25/28  | OBX 2024-NQM5 TRUST SER 2024-NQM5 CL A1 V/R REGD 144A P/P 5.98800000                           | CUSIP: 67448NAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    233148 | PA      | $235169.93     | 0.07%             | 2064-01-25      | Variable      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| BVSTAT 2024-1A A V/R 07/20/32  | VERDELITE STATIC CLO 2024-1 LTD SER 2024-1A CL A V/R REGD 144A P/P 5.01444000                  | CUSIP: 92338VAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    834243 | PA      | $833836.75     | 0.26%             | 2032-07-20      | Variable      | 5.01%                 | Yes           |                  2 | On Loan: No      |
| GCCT 2022-1A A 1.97% 01/15/27  | GOLDEN CREDIT CARD TRUST SER 2022-1A CL A REGD 144A P/P 1.97000000                             | CUSIP: 380881FE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | CA        |   1100000 | PA      | $1075681.31    | 0.33%             | 2029-01-15      | Fixed         | 1.97%                 | Yes           |                  2 | On Loan: No      |
| ATHENE GLOBAL F 4.95% 01/07/27 | ATHENE GLOBAL FUNDING REGD 144A P/P 4.95000000                                                 | CUSIP: 04685A4E8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    300000 | PA      | $302446.65     | 0.09%             | 2027-01-07      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL A V/R 03/25/27 | HYUNDAI CAPITAL AMERICA REGD V/R 144A P/P 5.10019900                                           | CUSIP: 44891ADS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $501867.49     | 0.15%             | 2027-03-25      | Variable      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| STANDARD CHARTERE V/R 01/09/27 | STANDARD CHARTERED PLC REGD V/R 6.17000000                                                     | CUSIP: G84228FN3<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   3900000 | PA      | $3907222.33    | 1.20%             | 2027-01-09      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| CFII 2024-1A A 5.52% 09/15/27  | CHESAPEAKE FUNDING II LLC SER 2024-1A CL A1 REGD 144A P/P 5.52000000                           | CUSIP: 165183DE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    322407 | PA      | $325972.94     | 0.10%             | 2036-05-15      | Fixed         | 5.52%                 | Yes           |                  2 | On Loan: No      |
| RC R/P RBC CA  4.100% 11/26/27 | RC R/P RBC CA  4.100% 11/26/27 4.10000000                                                      | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               | CORP              | US        | -16244388 | PA      | $-16244388.00  | -4.99%            |  |  |  | No            |                  2 | On Loan: No      |
| CRVNA 2023-P1  5.94% 07/12/27  | CARVANA AUTO RECEIVABLES TRUST 2023-P1 SER 2023-P1 CL A4 REGD 144A P/P 5.94000000              | CUSIP: 14688EAD1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2769000 | PA      | $2811005.45    | 0.86%             | 2029-01-10      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| AHART 2025-1A  4.48% 08/15/28  | AMERICAN HERITAGE AUTO RECEIVABLES ISSUER TR SER 2025-1A CL A2 REGD 144A P/P 4.48000000        | CUSIP: 02650VAB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1001934.80    | 0.31%             | 2028-08-15      | Fixed         | 4.48%                 | Yes           |                  2 | On Loan: No      |
| F/C US 2YR NOTE (CBT) MAR26    | FUTURE CONTRACT ON           US 2YR NOTE (CBT) MAR26 0.00000000                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |     -1055 | NC      | $-220346641.68 | -67.69%           |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE BANK NY V/R 07/13/27  | DEUTSCHE BANK NY REGD V/R 7.14600000                                                           | CUSIP: 25160PAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2034508.12    | 0.62%             | 2027-07-13      | Variable      | 7.15%                 | No            |                  2 | On Loan: No      |
| ELFI 2021-A A 1.53% 12/26/46   | ELFI GRADUATE LOAN PROGRAM 2021-A LLC SER 2021-A CL A REGD 144A P/P 1.53000000                 | CUSIP: 28628BAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1239481 | PA      | $1117513.90    | 0.34%             | 2046-12-26      | Fixed         | 1.53%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 02/26/26         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                     | CUSIP: 912797RU3<br>LEI: N/A                  | Long             | STIV             | UST               | US        |   1500000 | PA      | $1486442.50    | 0.46%             | 2026-02-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP  V/R 03/20/26 | VOLKSWAGEN GROUP AMERICA REGD V/R 144A P/P 4.94519400                                          | CUSIP: 928668CD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1201603.62    | 0.37%             | 2026-03-20      | Variable      | 4.95%                 | Yes           |                  2 | On Loan: No      |
| SMB 2023-C A1B V/R 10/15/33    | SMB PRIVATE EDUCATION LOAN TRUST 2023-C SER 2023-C CL A1B V/R REGD 144A P/P 5.68567000         | CUSIP: 83207DAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    379507 | PA      | $382413.47     | 0.12%             | 2052-11-15      | Variable      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| FHR 5496 AF V/R 01/25/55       | FREDDIE MAC REMICS SER 5496 CL AF V/R 5.17180000                                               | CUSIP: 3137HHZL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    901097 | PA      | $902274.86     | 0.28%             | 2055-01-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| ANCHF 2025-19 5.036% 10/25/40  | ANCHORAGE CREDIT FUNDING 19 LTD SER 2025-19A CL A REGD 144A P/P 5.03600000                     | CUSIP: 03331VAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2006544.40    | 0.62%             | 2040-10-25      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| BCC 2021-2A A1R V/R 07/16/34   | BAIN CAPITAL CREDIT CLO 2021-2 LTD SER 2021-2A CL A1R V/R REGD 144A P/P 5.12363000             | CUSIP: 05684RAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001658.00    | 0.31%             | 2034-07-16      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| SBALT 2024-B A 5.56% 09/21/26  | SBNA AUTO LEASE TRUST 2024-B SER 2024-B CL A3 REGD 144A P/P 5.56000000                         | CUSIP: 78437VAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1147030 | PA      | $1153358.65    | 0.35%             | 2027-11-22      | Fixed         | 5.56%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS PLC 4.375% 01/12/26   | BARCLAYS PLC REGD 4.37500000                                                                   | CUSIP: 06738EAN5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $500025.26     | 0.15%             | 2026-01-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VENTR 2019-36A A V/R 04/20/32  | VENTURE 36 CLO LTD SER 2019-36A CL A1AR V/R REGD 144A P/P 5.27605000                           | CUSIP: 92332LAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    454287 | PA      | $454557.32     | 0.14%             | 2032-04-20      | Variable      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| GNR 2024-H01 FB V/R 01/20/74   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2024-H01 CL FB V/R 4.99888000                     | CUSIP: 38383KNN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    749944 | PA      | $756174.86     | 0.23%             | 2074-01-20      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| FRESENIUS MED  1.875% 12/01/26 | FRESENIUS MED CARE III REGD 144A P/P 1.87500000                                                | CUSIP: 35805BAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $390696.83     | 0.12%             | 2026-12-01      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| BSABS 2005-CL1 A V/R 09/25/34  | BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2005-CL1 SER 2005-CL1 CL A2 V/R REGD 4.56876000   | CUSIP: 073879V21<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    110960 | PA      | $112042.27     | 0.03%             | 2034-09-25      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CRE 4.542% 08/01/26 | FORD MOTOR CREDIT CO LLC REGD 4.54200000                                                       | CUSIP: 345397ZW6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $399467.34     | 0.12%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| FHR 4344 FA V/R 12/15/37       | FREDDIE MAC REMICS SER 4344 CL FA V/R 4.87904000                                               | CUSIP: 3137BAJK9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    319537 | PA      | $312858.00     | 0.10%             | 2037-12-15      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| FNR 2025-40 FP V/R 10/25/54    | FANNIE MAE REMICS SER 2025-40 CL FP V/R 5.07180000                                             | CUSIP: 3136BWGV2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1148334 | PA      | $1153804.51    | 0.35%             | 2054-10-25      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS  3.5% 08/18/26 | LAS VEGAS SANDS CORP REGD 3.50000000                                                           | CUSIP: 517834AE7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    300000 | PA      | $297929.13     | 0.09%             | 2026-08-18      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CO 4.5% 03/01/26 | CNA FINANCIAL CORP REGD 4.50000000                                                             | CUSIP: 126117AT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $800000.00     | 0.25%             | 2026-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA 5% 05/18/27     | VAR ENERGI ASA REGD 144A P/P 5.00000000                                                        | CUSIP: 92212WAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | NO        |    400000 | PA      | $404143.89     | 0.12%             | 2027-05-18      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NAVSL 2020-A A2B V/R 07/15/28  | NAVIENT PRIVATE EDUCATION LOAN TRUST 2020-A SER 2020-A CL A2B V/R REGD 144A P/P 4.97344000     | CUSIP: 63941FAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    167539 | PA      | $167212.45     | 0.05%             | 2068-11-15      | Variable      | 4.97%                 | Yes           |                  2 | On Loan: No      |
| UNITEDHEALTH GROU V/R 07/15/26 | UNITEDHEALTH GROUP INC REGD V/R 4.58912200                                                     | CUSIP: 91324PFE7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    800000 | PA      | $801022.87     | 0.25%             | 2026-07-15      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV V/R 09/18/27  | ABN AMRO BANK NV REGD V/R 5.90263100                                                           | CUSIP: 00084EAF5<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    700000 | PA      | $706664.50     | 0.22%             | 2027-09-18      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS  3.5% 07/26/26 | IMPERIAL BRANDS FIN PLC REGD 144A P/P 3.50000000                                               | CUSIP: 45262BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    300000 | PA      | $298616.60     | 0.09%             | 2026-07-26      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| ING GROEP NV V/R 09/11/27      | ING GROEP NV REGD V/R 5.71171600                                                               | CUSIP: 456837BJ1<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    629000 | PA      | $634039.21     | 0.19%             | 2027-09-11      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELEC 5% 06/04/28 | PACIFIC GAS & ELECTRIC REGD 5.00000000                                                         | CUSIP: 694308KW6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $305013.54     | 0.09%             | 2028-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAID 2025-6 A 4.497% 09/15/28  | PAGAYA AI DEBT GRANTOR TRUST 2025-6 SER 2025-6 CL A2 REGD 144A P/P 4.49700000                  | CUSIP: 69549BAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    400000 | PA      | $400406.76     | 0.12%             | 2033-04-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GR V/R 08/07/27 | LLOYDS BANKING GROUP PLC REGD V/R 5.61339100                                                   | CUSIP: 53944YAW3<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $302259.47     | 0.09%             | 2027-08-07      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS 2.15% 01/15/27 | GLOBAL PAYMENTS INC REGD 2.15000000                                                            | CUSIP: 37940XAG7<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293035.29     | 0.09%             | 2027-01-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| TPMT 2025-CES3 A V/R 08/25/65  | TOWD POINT MORTGAGE TRUST 2025-CES3 SER 2025-CES3 CL A1A V/R REGD 144A P/P 5.27800000          | CUSIP: 891949BU2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    958776 | PA      | $963694.49     | 0.30%             | 2065-08-25      | Variable      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| GENERAL MOTORS FI V/R 05/08/27 | GENERAL MOTORS FINL CO REGD V/R 5.39769500                                                     | CUSIP: 37045XES1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $502498.16     | 0.15%             | 2027-05-08      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-RPL4 A V/R 12/27/60  | CSMC 2021-RPL4 TRUST SER 2021-RPL4 CL A1 V/R REGD 144A P/P 4.13915000                          | CUSIP: 12662GAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    573486 | PA      | $571653.07     | 0.18%             | 2060-12-27      | Variable      | 4.14%                 | Yes           |                  2 | On Loan: No      |
| ECMC 2018-1A A V/R 02/25/30    | ECMC GROUP STUDENT LOAN TRUST 2018-1 SER 2018-1A CL A V/R 144A P/P 4.93628000                  | CUSIP: 26828HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    296506 | PA      | $293756.71     | 0.09%             | 2068-02-27      | Variable      | 4.94%                 | Yes           |                  2 | On Loan: No      |
| GNR 2017-H15 FE V/R 07/20/67   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2017-H15 CL FE V/R 5.58070000                     | CUSIP: 38376R6F8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    531366 | PA      | $539002.59     | 0.17%             | 2067-07-20      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANI 5.4% 03/02/26 | WILLIAMS COMPANIES INC REGD 5.40000000                                                         | CUSIP: 969457CH1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    400000 | PA      | $401411.55     | 0.12%             | 2026-03-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FIN  5.35% 03/17/28 | STELLANTIS FIN US INC REGD 144A P/P 5.35000000                                                 | CUSIP: 85855CAM2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $203192.00     | 0.06%             | 2028-03-17      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEP 2% 03/09/26 | NISSAN MOTOR ACCEPTANCE REGD 144A P/P 2.00000000                                               | CUSIP: 654740BS7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $398736.48     | 0.12%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| PACIFIC GAS & E 2.95% 03/01/26 | PACIFIC GAS & ELECTRIC REGD 2.95000000                                                         | CUSIP: 694308HP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1195384.42    | 0.37%             | 2026-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| FNR 2019-9 FA V/R 03/25/49     | FANNIE MAE REMICS SER 2019-9 CL FA V/R 4.82904000                                              | CUSIP: 3136B33L2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    199609 | PA      | $198164.01     | 0.06%             | 2049-03-25      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| US TIPS 2.125% 04/15/29        | UNITED STATES TREASURY INFLATION INDEXED BONDS 2.12500000                                      | CUSIP: 91282CKL4<br>LEI: N/A                  | Long             | DBT              | UST               | US        |    955582 | PA      | $981191.18     | 0.30%             | 2029-04-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| NSLT 2019-3A A V/R 09/25/28    | NELNET STUDENT LOAN TRUST 2019-3 SER 2019-3A CL A V/R 144A P/P 4.86876000                      | CUSIP: 64031DAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    338895 | PA      | $339274.88     | 0.10%             | 2067-08-25      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| FHR 5532 FA V/R 04/25/55       | FREDDIE MAC REMICS SER 5532 CL FA V/R 5.02180000                                               | CUSIP: 3137HKPJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2118568 | PA      | $2124369.70    | 0.65%             | 2055-04-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| UMBS P#SD8012 4% 09/01/49      | FREDDIE MAC POOL UMBS P#SD8012 4.00000000                                                      | CUSIP: 3132DV3V5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    279012 | PA      | $269959.56     | 0.08%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPE 2.55% 09/15/26 | KEURIG DR PEPPER INC REGD 2.55000000                                                           | CUSIP: 26138EAU3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197472.28     | 0.06%             | 2026-09-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| US T BILL ZCP 01/08/26         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                     | CUSIP: 912797RH2<br>LEI: N/A                  | Long             | STIV             | UST               | US        |   7400000 | PA      | $7369985.80    | 2.26%             | 2026-01-08      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COM V/R 04/22/28 | WELLS FARGO & COMPANY REGD V/R MTN 5.14342600                                                  | CUSIP: 95000U3M3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1509271.58    | 0.46%             | 2028-04-22      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| TPMT 2018-3 A1 V/R 05/25/58    | TOWD POINT MORTGAGE TRUST 2018-3 SER 2018-3 CL A1 V/R REGD 144A P/P 3.75000000                 | CUSIP: 89175MAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    199573 | PA      | $196813.45     | 0.06%             | 2058-05-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| UMBS P#SD0251 4% 06/01/49      | FREDDIE MAC POOL UMBS P#SD0251 4.00000000                                                      | CUSIP: 3132DMH40<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     47883 | PA      | $46425.59      | 0.01%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATI 2.6% 08/15/26 | BAXTER INTERNATIONAL INC REGD 2.60000000                                                       | CUSIP: 071813BQ1<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2172711.88    | 0.67%             | 2026-08-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| SYMP 2021-25A AR V/R 04/19/34  | SYMPHONY CLO XXV LTD SER 2021-25A CL AR V/R REGD 144A P/P 0.00000000                           | CUSIP: 87167WDC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1600400.00    | 0.49%             | 2034-04-19      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS PLC V/R 11/24/27      | BARCLAYS PLC REGD V/R 2.27900000                                                               | CUSIP: 06738EBU8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    800000 | PA      | $785168.97     | 0.24%             | 2027-11-24      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| ILLUMINA INC 4.65% 09/09/26    | ILLUMINA INC REGD 4.65000000                                                                   | CUSIP: 452327AQ2<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300899.80     | 0.09%             | 2026-09-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SMB 2021-D A1A 1.34% 08/15/30  | SMB PRIVATE EDUCATION LOAN TRUST 2021-D SER 2021-D CL A1A REGD 144A P/P 1.34000000             | CUSIP: 78449MAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    123637 | PA      | $116853.89     | 0.04%             | 2053-03-17      | Fixed         | 1.34%                 | Yes           |                  2 | On Loan: No      |
| CAMPBELLS COMPAN 5.3% 03/20/26 | CAMPBELLS COMPANY/THE REGD 5.30000000                                                          | CUSIP: 134429BL2<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2608534.42    | 0.80%             | 2026-03-20      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS  5.5% 01/15/26 | AVOLON HOLDINGS FNDG LTD REGD 144A P/P 5.50000000                                              | CUSIP: 05401AAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1100000 | PA      | $1100493.72    | 0.34%             | 2026-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| TOYOTA MOTOR CRED V/R 04/10/26 | TOYOTA MOTOR CREDIT CORP REGD V/R MTN 4.54066300                                               | CUSIP: 89236TMR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    167000 | PA      | $167161.43     | 0.05%             | 2026-04-10      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| DNB BANK ASA V/R 05/25/27      | DNB BANK ASA REGD V/R 144A P/P 1.53500000                                                      | CUSIP: 23329PAG5<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |    600000 | PA      | $592467.92     | 0.18%             | 2027-05-25      | Variable      | 1.53%                 | Yes           |                  2 | On Loan: No      |
| DELL INT LLC / E 4.9% 10/01/26 | DELL INT LLC / EMC CORP REGD 4.90000000                                                        | CUSIP: 24703TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1592000 | PA      | $1600679.42    | 0.49%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| F/C US 5YR NOTE (CBT) MAR26    | FUTURE CONTRACT ON           US 5YR NOTE (CBT) MAR26 0.00000000                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |       680 | NC      | $74640625.00   | 22.93%            |  |  |  | No            |                  1 | On Loan: No      |
| FNR 2025-88 FM V/R 08/25/55    | FANNIE MAE REMICS SER 2025-88 CL FM V/R 4.97180000                                             | CUSIP: 3136BXZK3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    694616 | PA      | $696112.33     | 0.21%             | 2055-08-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| LMAT 2021-GS5 A1 V/R 07/25/67  | LEGACY MORTGAGE ASSET TRUST 2021-GS5 SER 2021-GS5 CL A1 V/R REGD 144A P/P 6.25000000           | CUSIP: 52475XAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    229453 | PA      | $229804.07     | 0.07%             | 2067-07-25      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| SYMP 2020-24A A1 V/R 10/23/35  | SYMPHONY CLO XXIV LTD SER 2020-24A CL A1R V/R REGD 144A P/P 5.26112000                         | CUSIP: 87167QAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000536.00    | 0.61%             | 2035-10-23      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| TAOT 2022-C A3 3.76% 12/15/25  | TOYOTA AUTO RECEIVABLES 2022-C OWNER TRUST SER 2022-C CL A3 REGD 3.76000000                    | CUSIP: 89231CAD9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    277036 | PA      | $276899.42     | 0.09%             | 2027-04-15      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDI 4.4% 09/06/26 | SOUTHERN CAL EDISON REGD 4.40000000                                                            | CUSIP: 842400JF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $801239.32     | 0.25%             | 2026-09-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| FHR 5481 FJ V/R 12/25/54       | FREDDIE MAC REMICS SER 5481 CL FJ V/R 5.22180000                                               | CUSIP: 3137HHQ95<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    735461 | PA      | $737230.92     | 0.23%             | 2054-12-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI F V/R 07/13/26 | SUMITOMO MITSUI FINL GRP REGD V/R 5.39275100                                                   | CUSIP: 86562MCZ1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   2000000 | PA      | $2013103.90    | 0.62%             | 2026-07-13      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERG 1.4% 08/15/26 | EVERSOURCE ENERGY REGD SER U 1.40000000                                                        | CUSIP: 30040WAN8<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1470955.50    | 0.45%             | 2026-08-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| NAVSL 2020-IA  1.33% 12/15/29  | NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 2020-H SER 2020-IA CL A1A REGD 144A P/P 1.33000000   | CUSIP: 63942AAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    157332 | PA      | $147111.85     | 0.05%             | 2069-04-15      | Fixed         | 1.33%                 | Yes           |                  2 | On Loan: No      |
| KEURIG DR PEPPER  V/R 11/15/26 | KEURIG DR PEPPER INC REGD V/R 4.63613700                                                       | CUSIP: 49271VAY6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199976.59     | 0.06%             | 2026-11-15      | Variable      | 4.64%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN  7.5% 10/15/27 | ROYAL CARIBBEAN CRUISES REGD 7.50000000                                                        | CUSIP: 780153AG7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $211365.86     | 0.06%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FHR 5593 FB V/R 11/25/55       | FREDDIE MAC REMICS SER 5593 CL FB V/R 4.97180000                                               | CUSIP: 3137HNV47<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    395989 | PA      | $396825.89     | 0.12%             | 2055-11-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE V/R 12/14/26  | SOCIETE GENERALE REGD V/R 144A P/P 1.48800000                                                  | CUSIP: 83368RAZ5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1800000 | PA      | $1797602.74    | 0.55%             | 2026-12-14      | Variable      | 1.49%                 | Yes           |                  2 | On Loan: No      |
| CMLTI 2021-INV3  V/R 05/25/51  | CITIGROUP MORTGAGE LOAN TRUST 2021-INV3 SER 2021-INV3 CL A11 V/R REGD 144A P/P 4.92180000      | CUSIP: 17329VDF3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1326627 | PA      | $1232770.91    | 0.38%             | 2051-05-25      | Variable      | 4.92%                 | Yes           |                  2 | On Loan: No      |
| TCCT 2024-1A A V/R 12/26/25    | TRILLIUM CREDIT CARD TRUST II SER 2024-1A CL A V/R REGD 144A P/P 4.66000000                    | CUSIP: 89621ABZ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | CA        |   3000000 | PA      | $3001325.40    | 0.92%             | 2028-12-26      | Variable      | 4.66%                 | Yes           |                  2 | On Loan: No      |
| NATIONWIDE BLDG S V/R 02/16/28 | NATIONWIDE BLDG SOCIETY REGD V/R 144A P/P MTN 5.34613700                                       | CUSIP: 63861VAG2<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201348.41     | 0.06%             | 2028-02-16      | Variable      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| GNR 2016-H06 FD V/R 07/20/65   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2016-H06 CL FD V/R 5.14039000                     | CUSIP: 38376RSG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    320945 | PA      | $322464.47     | 0.10%             | 2065-07-20      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE V/R 06/09/27  | SOCIETE GENERALE REGD V/R 144A P/P MTN 1.79200000                                              | CUSIP: 83368RBC5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $197308.73     | 0.06%             | 2027-06-09      | Variable      | 1.79%                 | Yes           |                  2 | On Loan: No      |
| WELF 2021-1A A1R V/R 04/20/34  | WELLFLEET CLO 2021-1 LTD SER 2021-1A CL A1R V/R REGD 144A P/P 5.06444000                       | CUSIP: 94950CAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1999428.00    | 0.61%             | 2034-04-20      | Variable      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| FNR 2025-95 F V/R 12/25/53     | FANNIE MAE REMICS SER 2025-95 CL F V/R 4.97180000                                              | CUSIP: 3136BXN67<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2704172 | PA      | $2705721.39    | 0.83%             | 2053-12-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| CHAOT 2024-3A  5.22% 01/25/28  | CHASE AUTO OWNER TRUST 2024-3 SER 2024-3A CL A3 REGD 144A P/P 5.22000000                       | CUSIP: 16144LAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2023918.60    | 0.62%             | 2029-07-25      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN 4.25% 07/01/26 | ROYAL CARIBBEAN CRUISES REGD 144A P/P 4.25000000                                               | CUSIP: 780153BH4<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999655.18     | 0.31%             | 2026-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| BERRY GLOBAL IN 1.57% 01/15/26 | BERRY GLOBAL INC REGD 1.57000000                                                               | CUSIP: 08576PAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2989889.46    | 0.92%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| TPMT 2019-HY2 A1 V/R 05/25/58  | TOWD POINT MORTGAGE TRUST 2019-HY2 SER 2019-HY2 CL A1 V/R REGD 144A P/P 5.06876000             | CUSIP: 89177HAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     99020 | PA      | $101035.51     | 0.03%             | 2058-05-25      | Variable      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| NAVSL 2015-BA A3 V/R 05/15/27  | NAVIENT PRIVATE EDUCATION LOAN TRUST 2015-B SER 2015-BA CL A3 V/R REGD 144A P/P 5.52344000     | CUSIP: 63939KAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    277401 | PA      | $277940.89     | 0.09%             | 2040-07-16      | Variable      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| TCCT 2025-1A A V/R 09/27/27    | TRILLIUM CREDIT CARD TRUST II SER 2025-1A CL A V/R REGD 144A P/P 4.50000000                    | CUSIP: 89621ACC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1800000 | PA      | $1802065.68    | 0.55%             | 2030-09-26      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GR V/R 11/26/28 | LLOYDS BANKING GROUP PLC REGD V/R 5.12210400                                                   | CUSIP: 539439BB4<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1200000 | PA      | $1206704.56    | 0.37%             | 2028-11-26      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| FHR 5508 QF V/R 02/25/55       | FREDDIE MAC REMICS SER 5508 CL QF V/R 5.02180000                                               | CUSIP: 3137HJVX2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    891523 | PA      | $894148.35     | 0.27%             | 2055-02-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| CARMX 2024-3 A2B V/R 05/15/26  | CARMAX AUTO OWNER TRUST 2024-3 SER 2024-3 CL A2B V/R REGD 4.61202000                           | CUSIP: 14319GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    563439 | PA      | $563567.89     | 0.17%             | 2027-09-15      | Variable      | 4.61%                 | No            |                  2 | On Loan: No      |
| FHR 5511 FG V/R 03/25/55       | FREDDIE MAC REMICS SER 5511 CL FG V/R 5.22180000                                               | CUSIP: 3137HKKP8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    293600 | PA      | $294267.36     | 0.09%             | 2055-03-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP V/R 11/15/27     | AMPHENOL CORP REGD V/R 4.58090600                                                              | CUSIP: 032095AV3<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500916.21     | 0.15%             | 2027-11-15      | Variable      | 4.58%                 | No            |                  2 | On Loan: No      |
| JPMMT 2025-NQM1  V/R 03/25/29  | JP MORGAN MORTGAGE TRUST SERIES 2025 SER 2025-NQM1 CL A1 V/R REGD 144A P/P 5.59100000          | CUSIP: 46593QAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    173764 | PA      | $175234.91     | 0.05%             | 2065-06-25      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| NSLT 2017-3A A V/R 06/25/37    | NELNET STUDENT LOAN TRUST 2017-3 SER 2017-3A CL A V/R 144A P/P 5.03628000                      | CUSIP: 64032KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    437141 | PA      | $437748.67     | 0.13%             | 2066-02-25      | Variable      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| CRVNA 2023-P2  5.42% 07/10/26  | CARVANA AUTO RECEIVABLES TRUST 2023-P2 SER 2023-P2 CL A3 REGD 144A P/P 5.42000000              | CUSIP: 14686TAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    983448 | PA      | $986851.67     | 0.30%             | 2028-04-10      | Fixed         | 5.42%                 | Yes           |                  2 | On Loan: No      |
| GCBSL 2020-50A A V/R 04/20/35  | GOLUB CAPITAL PARTNERS CLO 50B-R LTD SER 2020-50A CL A1R2 V/R REGD 144A P/P 4.99444000         | CUSIP: 38178DAN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1300000 | PA      | $1299261.60    | 0.40%             | 2035-04-20      | Variable      | 4.99%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN CAL EDI 1.2% 02/01/26 | SOUTHERN CAL EDISON REGD SER 20C 1.20000000                                                    | CUSIP: 842400GV9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2187400.12    | 0.67%             | 2026-02-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 14-1  3.7% 10/01/26 | AMER AIRLN 14-1 A PTT REGD SER A 3.70000000                                                    | CUSIP: 02377AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    307392 | PA      | $305943.00     | 0.09%             | 2026-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNI 3.625% 12/15/25 | ROGERS COMMUNICATIONS IN REGD 3.62500000                                                       | CUSIP: 775109BE0<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $1999398.16    | 0.61%             | 2025-12-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LI 5.875% 06/30/26 | SABINE PASS LIQUEFACTION REGD 5.87500000                                                       | CUSIP: 785592AV8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $37044.19      | 0.01%             | 2026-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEA 5.375% 07/15/27 | ROYAL CARIBBEAN CRUISES REGD 144A P/P 5.37500000                                               | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1410987.03    | 0.43%             | 2027-07-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| BARC 2024-NQM1 A V/R 01/25/28  | BARCLAYS MORTGAGE LOAN TRUST 2024-NQM1 SER 2024-NQM1 CL A1 V/R REGD 144A P/P 5.90300000        | CUSIP: 06745AAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    464629 | PA      | $467917.68     | 0.14%             | 2064-01-25      | Variable      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| VERUS 2023-5 A1 V/R 06/25/68   | VERUS SECURITIZATION TRUST 2023-5 SER 2023-5 CL A1 V/R REGD 144A P/P 6.47600000                | CUSIP: 924934AA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    139653 | PA      | $140350.09     | 0.04%             | 2068-06-25      | Variable      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| GCAT 2022-HX1 A1 V/R 12/27/66  | GCAT 2022-CM1 TRUST SER 2022-HX1 CL A1 V/R REGD 144A P/P 2.88500000                            | CUSIP: 36168XAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    649608 | PA      | $615933.43     | 0.19%             | 2066-12-27      | Variable      | 2.88%                 | Yes           |                  2 | On Loan: No      |
| COOPERATIEVE RABO V/R 02/24/27 | COOPERATIEVE RABOBANK UA REGD V/R 144A P/P 1.10600000                                          | CUSIP: 74977RDK7<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   2800000 | PA      | $2779835.07    | 0.85%             | 2027-02-24      | Variable      | 1.11%                 | Yes           |                  2 | On Loan: No      |
| OBX 2024-NQM6 A1 V/R 02/25/64  | OBX 2024-NQM6 TRUST SER 2024-NQM6 CL A1 V/R REGD 144A P/P 6.44700000                           | CUSIP: 67118XAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    442332 | PA      | $450043.20     | 0.14%             | 2064-02-25      | Variable      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL A V/R 01/07/28 | HYUNDAI CAPITAL AMERICA REGD V/R REG S 5.01692500                                              | CUSIP: 44891CDN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1102345.41    | 0.34%             | 2028-01-07      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG V/R 02/02/27      | UBS GROUP AG REGD V/R 144A P/P 1.30500000                                                      | CUSIP: 225401AT5<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3000000 | PA      | $2984971.62    | 0.92%             | 2027-02-02      | Variable      | 1.30%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS PLC V/R 09/13/27      | BARCLAYS PLC REGD V/R 6.02405700                                                               | CUSIP: 06738ECM5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    640000 | PA      | $646814.25     | 0.20%             | 2027-09-13      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| GNR 2025-135 FE V/R 08/20/55   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2025-135 CL FE V/R 5.24888000                     | CUSIP: 38381QDY4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7929962 | PA      | $7981343.70    | 2.45%             | 2055-08-20      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| FNR 2024-90 FB V/R 11/25/53    | FANNIE MAE REMICS SER 2024-90 CL FB V/R 5.32180000                                             | CUSIP: 3136BTXD0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    739555 | PA      | $742968.60     | 0.23%             | 2053-11-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL A V/R 06/24/27 | HYUNDAI CAPITAL AMERICA REGD V/R REG S 5.15119800                                              | CUSIP: 44891CDE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1505891.81    | 0.46%             | 2027-06-24      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| NRZT 2018-RPL1 A V/R 12/25/57  | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-RPL1 SER 2018-RPL1 CL A1 V/R REGD 144A P/P 3.50000000 | CUSIP: 64829VAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     36745 | PA      | $35922.62      | 0.01%             | 2057-12-25      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| MCMLT 2019-GS2 A V/R 08/25/59  | MILL CITY MORTGAGE LOAN TRUST 2019-GS2 SER 2019-GS2 CL A1 V/R REGD 144A P/P 2.75000000         | CUSIP: 59981TAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    289440 | PA      | $282419.42     | 0.09%             | 2059-08-25      | Variable      | 2.75%                 | Yes           |                  2 | On Loan: No      |
| GNR 2020-21 AC 2.5% 01/20/49   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2020-21 CL AC 2.50000000                          | CUSIP: 38382DMC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     43078 | PA      | $39040.22      | 0.01%             | 2049-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SEMT 2024-HYB1 A V/R 09/25/38  | SEQUOIA MORTGAGE TRUST 2024-HYB1 SER 2024-HYB1 CL A1A V/R REGD 144A P/P 4.48312400             | CUSIP: 81749EAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    539784 | PA      | $544976.30     | 0.17%             | 2063-11-25      | Variable      | 4.48%                 | Yes           |                  2 | On Loan: No      |
| UPXHI 2025-1 A 5.16% 06/25/32  | UPX HIL 2025-1 ISSUER TRUST SER 2025-1 CL A REGD 144A P/P 5.16000000                           | CUSIP: 916925AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    268529 | PA      | $270312.78     | 0.08%             | 2047-01-25      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| SYMP 2022-32A AR V/R 10/23/35  | SYMPHONY CLO XXXII LTD SER 2022-32A CL AR V/R REGD 144A P/P 5.41874000                         | CUSIP: 87168NAU8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    900000 | PA      | $900302.40     | 0.28%             | 2035-10-23      | Variable      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS GRO V/R 03/09/27 | GOLDMAN SACHS GROUP INC REGD V/R 1.43100000                                                    | CUSIP: 38141GYA6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496236.84     | 0.15%             | 2027-03-09      | Variable      | 1.43%                 | No            |                  2 | On Loan: No      |
| LCMLF 1A A V/R 04/20/31        | LCM LOAN INCOME FUND I LTD SER 1A CL A V/R REGD 144A P/P 5.17605000                            | CUSIP: 50189XAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    171027 | PA      | $171113.18     | 0.05%             | 2031-04-20      | Variable      | 5.18%                 | Yes           |                  2 | On Loan: No      |
| OSCAR 2024-1A  5.48% 01/12/26  | OSCAR US FUNDING XVI LLC SER 2024-1A CL A2 REGD 144A P/P 5.48000000                            | CUSIP: 68784GAB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JP        |     97010 | PA      | $97046.14      | 0.03%             | 2027-02-10      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| DUKE ENERGY COR 2.65% 09/01/26 | DUKE ENERGY CORP REGD 2.65000000                                                               | CUSIP: 26441CAS4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    304000 | PA      | $300838.73     | 0.09%             | 2026-09-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NYO 2021-1290 A V/R 11/15/28   | NYO COMMERCIAL MORTGAGE TRUST 2021-1290 SER 2021-1290 CL A V/R REGD 144A P/P 5.16848000        | CUSIP: 62955HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1800000 | PA      | $1794767.04    | 0.55%             | 2038-11-15      | Variable      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| MCMLT 2021-NMR1  V/R 11/25/60  | MILL CITY MORTGAGE LOAN TRUST 2021-NMR1 SER 2021-NMR1 CL A1 V/R REGD 144A P/P 1.12500000       | CUSIP: 59982HAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    209648 | PA      | $202093.55     | 0.06%             | 2060-11-25      | Variable      | 1.12%                 | Yes           |                  2 | On Loan: No      |
| CSMC 2021-INV1 A V/R 07/25/56  | CSMC 2021-INV1TRUST SER 2021-INV1 CL A11 V/R REGD 144A P/P 4.87180000                          | CUSIP: 12661XBC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    204234 | PA      | $190161.66     | 0.06%             | 2056-07-25      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| NATIONAL FUEL GA 5.5% 10/01/26 | NATIONAL FUEL GAS CO REGD 5.50000000                                                           | CUSIP: 636180BS9<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |    600000 | PA      | $606754.85     | 0.19%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV V/R 04/01/27      | ING GROEP NV REGD V/R 5.11942000                                                               | CUSIP: 456837AX1<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   2700000 | PA      | $2705383.64    | 0.83%             | 2027-04-01      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| SK HYNIX INC 5.5% 01/16/27     | SK HYNIX INC REGD 144A P/P 5.50000000                                                          | CUSIP: 78392BAG2<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |    300000 | PA      | $304680.90     | 0.09%             | 2027-01-16      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| BAYER US FINAN 6.125% 11/21/26 | BAYER US FINANCE LLC REGD 144A P/P 6.12500000                                                  | CUSIP: 07274EAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $711602.12     | 0.22%             | 2026-11-21      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| MOLSON COORS BEVER 3% 07/15/26 | MOLSON COORS BEVERAGE REGD 3.00000000                                                          | CUSIP: 60871RAG5<br>LEI: 54930073LBBH6ZCBE225 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2484232.73    | 0.76%             | 2026-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITA 1.95% 09/20/26 | AVIATION CAPITAL GROUP REGD 144A P/P 1.95000000                                                | CUSIP: 05369AAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2420000 | PA      | $2376399.08    | 0.73%             | 2026-09-20      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR COMPA 7.5% 08/01/26 | FORD MOTOR COMPANY REGD 7.50000000                                                             | CUSIP: 345370BP4<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304248.92     | 0.09%             | 2026-08-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UMBS P#SD8006 4% 08/01/49      | FREDDIE MAC POOL UMBS P#SD8006 4.00000000                                                      | CUSIP: 3132DV3P8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    332698 | PA      | $321294.83     | 0.10%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRAL 2018-5A A1R V/R 10/20/34  | TRALEE CLO V LTD SER 2018-5A CL A1RR V/R REGD 144A P/P 4.96444000                              | CUSIP: 89300JBA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999798.00     | 0.31%             | 2034-10-20      | Variable      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| DLLAD 2024-1A A 5.5% 06/20/26  | DLLAD 2024-1 LLC SER 2024-1A CL A2 REGD 144A P/P 5.50000000                                    | CUSIP: 23346MAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    420766 | PA      | $422791.39     | 0.13%             | 2027-08-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| BWAY 2021-1450 A V/R 09/15/23  | BWAY 2021-1450 MORTGAGE TRUST SER 2021-1450 CL A V/R REGD 144A P/P 5.32345000                  | CUSIP: 12430YAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1600000 | PA      | $1558967.52    | 0.48%             | 2036-09-15      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| CREDIT AGRICOLE S V/R 07/05/26 | CREDIT AGRICOLE SA REGD V/R 144A P/P 5.38884000                                                | CUSIP: 22534PAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |    625000 | PA      | $628365.19     | 0.19%             | 2026-07-05      | Variable      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| DEUTSCHE BANK NY 4.1% 01/13/26 | DEUTSCHE BANK NY REGD SER * 4.10000000                                                         | CUSIP: 251526BZ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $299749.28     | 0.09%             | 2026-01-13      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FINA 2004-2 M1 V/R 08/25/34    | FINANCE AMERICA MORTGAGE LOAN TRUST 2004-2 SER 2004-2 CL M1 V/R REGD 4.89376000                | CUSIP: 317350BD7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    119203 | PA      | $115899.54     | 0.04%             | 2034-08-25      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| F/C US 10YR ULTRA FUT MAR26    | FUTURE CONTRACT ON           US 10YR ULTRA FUT MAR26 0.00000000                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |       -35 | NC      | $-4067109.38   | -1.25%            |  |  |  | No            |                  1 | On Loan: No      |
| MCCT 2024-1A A V/R 01/21/26    | MASTER CREDIT CARD TRUST II SER 2024-1A CL A V/R REGD 144A P/P 4.88567000                      | CUSIP: 576339DZ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | CA        |   2200000 | PA      | $2201691.80    | 0.68%             | 2028-01-21      | Variable      | 4.89%                 | Yes           |                  2 | On Loan: No      |
| JPMCC 2019-FL12  V/R 04/15/21  | JP MORGAN CHASE COMMERCIAL MORTGAGE SE SER 2019-FL12 CL A V/R REGD 144A P/P 5.45601000         | CUSIP: 46651QAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    137825 | PA      | $137432.96     | 0.04%             | 2031-12-15      | Variable      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| F/C US 10YR NOTE (CBT)MAR26    | FUTURE CONTRACT ON           US 10YR NOTE (CBT)MAR26 0.00000000                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |       -56 | NC      | $-6347250.00   | -1.95%            |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHSE FIN G 5.55% 04/09/27 | BRIGHTHSE FIN GLBL FUND REGD 144A P/P MTN 5.55000000                                           | CUSIP: 10921U2J6<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014679.91    | 0.31%             | 2027-04-09      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| DLLAA 2025-1A A 4.7% 10/20/27  | DLLAA 2025-1 LLC SER 2025-1A CL A2 REGD 144A P/P 4.70000000                                    | CUSIP: 233249AB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    893955 | PA      | $896933.44     | 0.28%             | 2027-10-20      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| NOMURA HOLDINGS I V/R 07/02/27 | NOMURA HOLDINGS INC REGD V/R 5.35872200                                                        | CUSIP: 65535HBQ1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $302800.14     | 0.09%             | 2027-07-02      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| US TIPS 0.125% 07/15/26        | UNITED STATES TREASURY INFLATION INDEXED BONDS 0.12500000                                      | CUSIP: 912828S50<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   4607068 | PA      | $4582014.53    | 1.41%             | 2026-07-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE S V/R 01/26/27 | CREDIT AGRICOLE SA REGD V/R 144A P/P 1.24700000                                                | CUSIP: 22535WAH0<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |   1225000 | PA      | $1218988.18    | 0.37%             | 2027-01-26      | Variable      | 1.25%                 | Yes           |                  2 | On Loan: No      |
| SMB 2024-A A1A 5.24% 03/15/56  | SMB PRIVATE EDUCATION LOAN TRUST 2024-A SER 2024-A CL A1A REGD 144A P/P 5.24000000             | CUSIP: 831943AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    159385 | PA      | $163177.77     | 0.05%             | 2056-03-15      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| JACKSON NATL LIFE V/R 01/14/28 | JACKSON NATL LIFE GLOBAL REGD V/R 144A P/P 5.05997300                                          | CUSIP: 46849CJN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $300933.35     | 0.09%             | 2028-01-14      | Variable      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| PNC BANK NA V/R 07/21/28       | PNC BANK NA REGD V/R 4.80756900                                                                | CUSIP: 69353RGA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $500095.36     | 0.15%             | 2028-07-21      | Variable      | 4.81%                 | No            |                  2 | On Loan: No      |
| CASH COLLATERAL CME WFS        | CASH COLLATERAL CME WFS        /CCWFSXUS7 3.78000000                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   1543000 | PA      | $1543000.00    | 0.47%             | 2049-12-31      | Floating      | 3.78%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE S V/R 07/05/26 | CREDIT AGRICOLE SA REGD V/R REG S 5.38884000                                                   | CUSIP: 22535EAF4<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |    600000 | PA      | $603230.59     | 0.19%             | 2026-07-05      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & E 3.15% 01/01/26 | PACIFIC GAS & ELECTRIC REGD 3.15000000                                                         | CUSIP: 694308JP3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1298312.93    | 0.40%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROU V/R 06/14/27 | SANTANDER UK GROUP HLDGS REGD V/R 1.67300000                                                   | CUSIP: 80281LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2400000 | PA      | $2366447.14    | 0.73%             | 2027-06-14      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI T V/R 09/14/26 | SUMITOMO MITSUI TR BK LT REGD V/R REG S 5.30238100                                             | CUSIP: J7771YSN8<br>LEI: N/A                  | Long             | DBT              | CORP              | JP        |    350000 | PA      | $352363.80     | 0.11%             | 2026-09-14      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| MMAF 2024-A A2 5.2% 09/13/27   | MMAF EQUIPMENT FINANCE LLC 2024-A SER 2024-A CL A2 REGD 144A P/P 5.20000000                    | CUSIP: 55318CAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    341623 | PA      | $342698.29     | 0.11%             | 2027-09-13      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| AVOLON HOLDING 2.125% 02/21/26 | AVOLON HOLDINGS FNDG LTD REGD 144A P/P 2.12500000                                              | CUSIP: 05401AAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    441000 | PA      | $438302.28     | 0.13%             | 2026-02-21      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| FHR 5495 AF V/R 01/25/55       | FREDDIE MAC REMICS SER 5495 CL AF V/R 5.22180000                                               | CUSIP: 3137HJ2H9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    847527 | PA      | $849503.05     | 0.26%             | 2055-01-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE &  V/R 01/29/27 | JPMORGAN CHASE & CO REGD V/R 3.96000000                                                        | CUSIP: 46647PBA3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999383.64     | 0.31%             | 2027-01-29      | Variable      | 3.96%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL A V/R 01/08/27 | HYUNDAI CAPITAL AMERICA REGD V/R 144A P/P 5.59220200                                           | CUSIP: 44891ACW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $706425.36     | 0.22%             | 2027-01-08      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| FHR 4351 FA V/R 05/15/38       | FREDDIE MAC REMICS SER 4351 CL FA V/R 4.87904000                                               | CUSIP: 3137BBQ37<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    374776 | PA      | $367697.76     | 0.11%             | 2038-05-15      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CRED 6.95% 06/10/26 | FORD MOTOR CREDIT CO LLC REGD 6.95000000                                                       | CUSIP: 345397D26<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $606195.61     | 0.19%             | 2026-06-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ECMC 2017-2A A V/R 05/25/67    | ECMC GROUP STUDENT LOAN TRUST 2017-2 SER 2017-2A CL A V/R 144A P/P 5.23628000                  | CUSIP: 26828VAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    408621 | PA      | $410299.22     | 0.13%             | 2067-05-25      | Variable      | 5.24%                 | Yes           |                  2 | On Loan: No      |
| BANQUE FED CRED M V/R 01/23/27 | BANQUE FED CRED MUTUEL REGD V/R 144A P/P 5.20221800                                            | CUSIP: 06675DCH3<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |    680000 | PA      | $684180.63     | 0.21%             | 2027-01-23      | Variable      | 5.20%                 | Yes           |                  2 | On Loan: No      |
| FNMA 30YR TBA 5.5% JAN 26      | FNMA 30YR TBA 5.5% JAN 26      TO BE ANNOUNCED 5.50000000                                      | CUSIP: 01F052615<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   7200000 | PA      | $7285700.88    | 2.24%             | 2056-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SMB 2020-PTA A2 1.6% 09/15/54  | SMB PRIVATE EDUCATION LOAN TRUST 2020-PT-A SER 2020-PTA CL A2A REGD 144A P/P 1.60000000        | CUSIP: 78449VAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    150283 | PA      | $142477.67     | 0.04%             | 2054-09-15      | Fixed         | 1.60%                 | Yes           |                  2 | On Loan: No      |
| UBER TECHNOLOGIE 4.5% 08/15/29 | UBER TECHNOLOGIES INC REGD 144A P/P 4.50000000                                                 | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2302459.85    | 0.71%             | 2029-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| GNR 2023-H27 FD V/R 11/20/73   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2023-H27 CL FD V/R 5.19888000                     | CUSIP: 38383KHV7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    177250 | PA      | $180593.94     | 0.06%             | 2073-11-20      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS P V/R 09/29/26 | NATWEST MARKETS PLC REGD V/R REG S 4.86872200                                                  | CUSIP: G6382GWU2<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200716.08     | 0.06%             | 2026-09-29      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| DRSLF 2021-95A A V/R 08/20/34  | DRYDEN 95 CLO LTD SER 2021-95A CL AR V/R REGD 144A P/P 4.92896000                              | CUSIP: 262487AJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $399708.80     | 0.12%             | 2034-08-20      | Variable      | 4.93%                 | Yes           |                  2 | On Loan: No      |
| SCCU 2023-1A A3 5.7% 01/15/27  | SCCU AUTO RECEIVABLES TRUST 2023-1 SER 2023-1A CL A3 REGD 144A P/P 5.70000000                  | CUSIP: 805922AE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    455146 | PA      | $458472.05     | 0.14%             | 2028-10-16      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| BCC 2022-2A A1R V/R 04/22/35   | BAIN CAPITAL CREDIT CLO 2022-2 LTD SER 2022-2A CL A1R V/R REGD 144A P/P 5.00735000             | CUSIP: 05682GAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2500000 | PA      | $2498457.50    | 0.77%             | 2035-04-22      | Variable      | 5.01%                 | Yes           |                  2 | On Loan: No      |
| MSAC 2004-HE4 M1 V/R 05/25/34  | MORGAN STANLEY ABS CAPITAL I INC TRUST 2004-HE4 SER 2004-HE4 CL M1 V/R REGD 4.96876000         | CUSIP: 61746RGK1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    323217 | PA      | $348389.39     | 0.11%             | 2034-05-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| CCG 2025-1 A2 4.48% 10/14/32   | CCG RECEIVABLES TRUST 2025-1 SER 2025-1 CL A2 REGD 144A P/P 4.48000000                         | CUSIP: 12515XAB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    386543 | PA      | $388514.06     | 0.12%             | 2032-10-14      | Fixed         | 4.48%                 | Yes           |                  2 | On Loan: No      |
| DRSLF 2017-54A A V/R 10/19/29  | DRYDEN 54 SENIOR LOAN FUND SER 2017-54A CL AR V/R REGD 144A P/P 5.03444000                     | CUSIP: 26244RAF8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     86221 | PA      | $86255.09      | 0.03%             | 2029-10-19      | Variable      | 5.03%                 | Yes           |                  2 | On Loan: No      |
| NISSAN MOTOR AC 1.85% 09/16/26 | NISSAN MOTOR ACCEPTANCE REGD 144A P/P MTN 1.85000000                                           | CUSIP: 65480CAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $291778.98     | 0.09%             | 2026-09-16      | Fixed         | 1.85%                 | Yes           |                  2 | On Loan: No      |
| BANK OF MONTREAL V/R 09/10/27  | BANK OF MONTREAL REGD V/R MTN 5.03560200                                                       | CUSIP: 06368L8M1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $501584.56     | 0.15%             | 2027-09-10      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| FNR 2025-4 FB V/R 12/25/53     | FANNIE MAE REMICS SER 2025-4 CL FB V/R 5.27180000                                              | CUSIP: 3136BUU65<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    290268 | PA      | $291231.16     | 0.09%             | 2053-12-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| GALL 2017-1A A1R V/R 07/15/31  | GALLATIN CLO VIII 2017-1 LTD SER 2017-1A CL A1R V/R REGD 144A P/P 5.25615000                   | CUSIP: 36361UAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    337132 | PA      | $337490.67     | 0.10%             | 2031-07-15      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| FHLT 2005-A M3 V/R 01/25/35    | FREMONT HOME LOAN TRUST 2005-A SER 2005-A CL M3 V/R REGD 4.80376000                            | CUSIP: 35729PHN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     18669 | PA      | $18589.67      | 0.01%             | 2035-01-25      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| TPAT 2021-SL1 A2 V/R 11/20/26  | TOWD POINT ASSET TRUST 2021-SL1 SER 2021-SL1 CL A2 V/R REGD 144A P/P 4.77432000                | CUSIP: 89179XAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    198983 | PA      | $198599.89     | 0.06%             | 2061-11-20      | Variable      | 4.77%                 | Yes           |                  2 | On Loan: No      |
| TPMT 2019-HY3 A1 V/R 07/25/27  | TOWD POINT MORTGAGE TRUST 2019-HY3 SER 2019-HY3 CL A1A V/R REGD 144A P/P 5.06876000            | CUSIP: 89177XAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    111108 | PA      | $111274.87     | 0.03%             | 2059-10-25      | Variable      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| GCAT 2021-NQM3 A V/R 05/25/66  | GCAT 2021-NQM3 TRUST SER 2021-NQM3 CL A1 V/R REGD 144A P/P 1.09100000                          | CUSIP: 36167HAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    536831 | PA      | $475012.54     | 0.15%             | 2066-05-25      | Variable      | 1.09%                 | Yes           |                  2 | On Loan: No      |
| TPMT 2020-1 A1 V/R 01/25/60    | TOWD POINT MORTGAGE TRUST 2020-1 SER 2020-1 CL A1 V/R REGD 144A P/P 2.71000000                 | CUSIP: 89178WAU2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    352875 | PA      | $341162.80     | 0.10%             | 2060-01-25      | Variable      | 2.71%                 | Yes           |                  2 | On Loan: No      |
| ATCLO 2021-18A A V/R 01/18/35  | ATLAS SENIOR LOAN FUND XVIII LTD SER 2021-18A CL A1R V/R REGD 144A P/P 4.99444000              | CUSIP: 04943EAQ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999222.00     | 0.31%             | 2035-01-18      | Variable      | 4.99%                 | Yes           |                  2 | On Loan: No      |
| SMB 2022-B A1B V/R 02/16/55    | SMB PRIVATE EDUCATION LOAN TRUST 2022-B SER 2022-B CL A1B V/R REGD 144A P/P 5.59202000         | CUSIP: 83206NAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    983168 | PA      | $993097.13     | 0.31%             | 2055-02-16      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| PNFED 2025-A A 4.03% 01/15/29  | PENFED AUTO RECEIVABLES OWNER TRUST 2025-A SER 2025-A CL A3 REGD 144A P/P 4.03000000           | CUSIP: 706916AC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    200000 | PA      | $200594.76     | 0.06%             | 2030-07-15      | Fixed         | 4.03%                 | Yes           |                  2 | On Loan: No      |
| ARIFL 2024-B A 5.54% 02/15/27  | ARI FLEET LEASE TRUST 2024-B SER 2024-B CL A2 REGD 144A P/P 5.54000000                         | CUSIP: 04033HAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1055269 | PA      | $1062961.31    | 0.33%             | 2033-04-15      | Fixed         | 5.54%                 | Yes           |                  2 | On Loan: No      |
| US TIPS 0.125% 10/15/26        | UNITED STATES TREASURY INFLATION INDEXED BONDS 0.12500000                                      | CUSIP: 91282CDC2<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   6180824 | PA      | $6128540.66    | 1.88%             | 2026-10-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| GNR 2025-H22 F V/R 10/20/75    | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2025-H22 CL F V/R 4.87888000                      | CUSIP: 38384LA58<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    349326 | PA      | $350342.87     | 0.11%             | 2075-10-20      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| MTLRF 2025-1A A 4.7% 08/16/27  | M&T EQUIPMENT 2025-LEAF1 NOTES SER 2025-1A CL A2 REGD 144A P/P 4.70000000                      | CUSIP: 55340QAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2012974.80    | 0.62%             | 2027-12-16      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| LADAR 2024-3A  4.52% 08/15/27  | LAD AUTO RECEIVABLES TRUST 2024-3 SER 2024-3A CL A3 REGD 144A P/P 4.52000000                   | CUSIP: 505709AC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1975000 | PA      | $1983042.20    | 0.61%             | 2029-03-15      | Fixed         | 4.52%                 | Yes           |                  2 | On Loan: No      |
| GNR 2021-122 FA V/R 07/20/51   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2021-122 CL FA V/R 3.00000000                     | CUSIP: 38382WCY1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2721653 | PA      | $2392797.04    | 0.74%             | 2051-07-20      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| KKR 16 A1R3 V/R 10/20/34       | KKR CLO 16 LTD SER 16 CL A1R3 V/R REGD 144A P/P 0.00000000                                     | CUSIP: 48251BBE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $400100.00     | 0.12%             | 2034-10-20      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| WAMU 2005-AR13 A V/R 10/25/45  | WAMU MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2005- SER 2005-AR13 CL A1A1 V/R REGD 4.64876000 | CUSIP: 92922F4M7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    221069 | PA      | $215866.62     | 0.07%             | 2045-10-25      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN  5.5% 04/01/28 | ROYAL CARIBBEAN CRUISES REGD 144A P/P 5.50000000                                               | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |    600000 | PA      | $610769.60     | 0.19%             | 2028-04-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FNR 2025-88 KF V/R 09/25/55    | FANNIE MAE REMICS SER 2025-88 CL KF V/R 5.12180000                                             | CUSIP: 3136BXZS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7559481 | PA      | $7558841.91    | 2.32%             | 2055-09-25      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL V/R 06/04/27  | BANK OF MONTREAL REGD V/R MTN 4.93947200                                                       | CUSIP: 06368L3M6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    319000 | PA      | $320724.44     | 0.10%             | 2027-06-04      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| TPMT 2025-CES2 A V/R 07/25/65  | TOWD POINT MORTGAGE TRUST 2025-CES2 SER 2025-CES2 CL A1 V/R REGD 144A P/P 5.34800000           | CUSIP: 89183KAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    184320 | PA      | $185592.45     | 0.06%             | 2065-07-25      | Variable      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| FHR 5567 FB V/R 08/25/55       | FREDDIE MAC REMICS SER 5567 CL FB V/R 5.07180000                                               | CUSIP: 3137HMEX4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    838483 | PA      | $842591.41     | 0.26%             | 2055-08-25      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| PAID 2024-1 A 6.66% 07/15/31   | PAGAYA AI DEBT TRUST 2024-1 SER 2024-1 CL A REGD 144A P/P 6.66000000                           | CUSIP: 69548AAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     20893 | PA      | $20979.54      | 0.01%             | 2031-07-15      | Fixed         | 6.66%                 | Yes           |                  2 | On Loan: No      |
| CHASE 2024-9 A11 V/R 04/25/47  | CHASE HOME LENDING MORTGAGE TRUST 2024-9 SER 2024-9 CL A11 V/R REGD 144A P/P 5.32180000        | CUSIP: 16160QAX2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    420587 | PA      | $420170.35     | 0.13%             | 2055-09-25      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| GSMBS 2021-GR2 A V/R 02/25/52  | GS MORTGAGE-BACKED SECURITIES TRUST 2021-GR2 SER 2021-GR2 CL A9 V/R REGD 144A P/P 5.00000000   | CUSIP: 36262JAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    644755 | PA      | $598989.49     | 0.18%             | 2052-02-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NATIONAL BANK OF  V/R 03/25/27 | NATIONAL BANK OF CANADA REGD V/R MTN SER GMTN 5.01019800                                       | CUSIP: 63307A2Y0<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $1101520.19    | 0.34%             | 2027-03-25      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOT V/R 03/02/26 | BANK OF NOVA SCOTIA REGD V/R 4.73856200                                                        | CUSIP: 0641593V6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    462000 | PA      | $462457.44     | 0.14%             | 2026-03-02      | Variable      | 4.74%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GRO V/R 10/21/27 | GOLDMAN SACHS GROUP INC REGD V/R 1.94800000                                                    | CUSIP: 38141GYM0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980445.61     | 0.30%             | 2027-10-21      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI T V/R 03/09/26 | SUMITOMO MITSUI TR BK LT REGD V/R REG S EMTN 5.29947400                                        | CUSIP: J7771YRY5<br>LEI: N/A                  | Long             | DBT              | CORP              | JP        |    640000 | PA      | $641446.71     | 0.20%             | 2026-03-09      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| NCMS 2021-APPL A V/R 08/15/23  | NATIXIS COMMERCIAL MORTGAGE SECURITIES  SER 2021-APPL CL A V/R REGD 144A P/P 5.17348000        | CUSIP: 63874AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1485076 | PA      | $1449355.54    | 0.45%             | 2038-08-15      | Variable      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| TOYOTA MOTOR CRED V/R 05/15/26 | TOYOTA MOTOR CREDIT CORP REGD V/R 4.50613700                                                   | CUSIP: 89236TME2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $35036.24      | 0.01%             | 2026-05-15      | Variable      | 4.51%                 | No            |                  2 | On Loan: No      |
| OCT39 2018-3A AR V/R 10/20/30  | OCTAGON INVESTMENT PARTNERS 39 LTD SER 2018-3A CL AR V/R REGD 144A P/P 5.03444000              | CUSIP: 67592CAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     92643 | PA      | $92687.80      | 0.03%             | 2030-10-20      | Variable      | 5.03%                 | Yes           |                  2 | On Loan: No      |
| BVINV 2025-3 AF1 V/R 11/25/27  | OCEANVIEW MORTGAGE TRUST 2025-INV3 SER 2025-3 CL AF1 V/R REGD 144A P/P 4.99169000              | CUSIP: 67648CAU4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    458448 | PA      | $459674.85     | 0.14%             | 2055-05-25      | Variable      | 4.99%                 | Yes           |                  2 | On Loan: No      |
| SYMP 2021-29A AR V/R 10/15/35  | SYMPHONY CLO XXIX LTD SER 2021-29A CL AR V/R REGD 144A P/P 5.43307000                          | CUSIP: 87168GAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    800000 | PA      | $800280.00     | 0.25%             | 2035-10-15      | Variable      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| SK HYNIX INC 6.25% 01/17/26    | SK HYNIX INC REGD REG S 6.25000000                                                             | CUSIP: Y8085FBJ8<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |    400000 | PA      | $401443.60     | 0.12%             | 2026-01-17      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FNR 2025-99 KF V/R 11/25/55    | FANNIE MAE REMICS SER 2025-99 CL KF V/R 5.07180000                                             | CUSIP: 3136BXY40<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1197160 | PA      | $1195274.31    | 0.37%             | 2055-11-25      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| NSLT 2019-2A A V/R 09/25/32    | NELNET STUDENT LOAN TRUST 2019-2 SER 2019-2A CL A V/R 144A P/P 5.08628000                      | CUSIP: 64034NAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    425361 | PA      | $426066.50     | 0.13%             | 2067-06-27      | Variable      | 5.09%                 | Yes           |                  2 | On Loan: No      |
| JPMMT 2021-12 A1 V/R 02/25/52  | JP MORGAN MORTGAGE TRUST 2021-12 SER 2021-12 CL A11 V/R REGD 144A P/P 5.00000000               | CUSIP: 46592WBE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    276232 | PA      | $256643.21     | 0.08%             | 2052-02-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| GNR 2023-H11 FC V/R 05/20/73   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2023-H11 CL FC V/R 5.19888000                     | CUSIP: 38382Y5C3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    190894 | PA      | $194329.08     | 0.06%             | 2073-05-20      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| HSBC USA INC V/R 06/03/28      | HSBC USA INC REGD V/R 5.15916200                                                               | CUSIP: 40428HS29<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $130983.82     | 0.04%             | 2028-06-03      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC V/R 05/09/27      | BARCLAYS PLC REGD V/R 5.82900000                                                               | CUSIP: 06738ECF0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    700000 | PA      | $704804.63     | 0.22%             | 2027-05-09      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LL V/R 03/21/28 | BMW US CAPITAL LLC REGD V/R 144A P/P 5.03519200                                                | CUSIP: 05565ECX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1107635.96    | 0.34%             | 2028-03-21      | Variable      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| BNP PARIBAS V/R 06/30/27       | BNP PARIBAS REGD V/R 144A P/P 1.67500000                                                       | CUSIP: 09659W2Q6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1378931.67    | 0.42%             | 2027-06-30      | Variable      | 1.68%                 | Yes           |                  2 | On Loan: No      |
| AVIATION CAPITA 1.95% 01/30/26 | AVIATION CAPITAL GROUP REGD 144A P/P 1.95000000                                                | CUSIP: 05369AAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199218.86     | 0.06%             | 2026-01-30      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| ECMC 2019-1A A1B V/R 04/25/30  | ECMC GROUP STUDENT LOAN TRUST 2019-1 SER 2019-1A CL A1B V/R 144A P/P 5.18628000                | CUSIP: 26829XAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    444461 | PA      | $445293.91     | 0.14%             | 2069-07-25      | Variable      | 5.19%                 | Yes           |                  2 | On Loan: No      |
| FNR 2024-103 FC V/R 01/25/55   | FANNIE MAE REMICS SER 2024-103 CL FC V/R 5.22180000                                            | CUSIP: 3136BUQH6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    419956 | PA      | $420932.75     | 0.13%             | 2055-01-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV V/R 09/18/27  | ABN AMRO BANK NV REGD V/R 144A P/P 5.90263100                                                  | CUSIP: 00084DBB5<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    800000 | PA      | $807616.58     | 0.25%             | 2027-09-18      | Variable      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| PENSKE TRUCK LE 5.75% 05/24/26 | PENSKE TRUCK LEASING/PTL REGD 144A P/P 5.75000000                                              | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2263000 | PA      | $2276681.83    | 0.70%             | 2026-05-24      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| SWEDBANK AB 5.337% 09/20/27    | SWEDBANK AB REGD REG S 5.33700000                                                              | CUSIP: W94239AE5<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   1000000 | PA      | $1022215.21    | 0.31%             | 2027-09-20      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| GWOLF 2020-3RA A V/R 04/22/33  | GREYWOLF CLO III LTD SER 2020-3RA CL A1R2 V/R REGD 144A P/P 5.08735000                         | CUSIP: 39809CAY0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1132717 | PA      | $1133905.21    | 0.35%             | 2033-04-22      | Variable      | 5.09%                 | Yes           |                  2 | On Loan: No      |
| BOEING CO 2.196% 02/04/26      | BOEING CO REGD 2.19600000                                                                      | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2788816.49    | 0.86%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| F/C 3 MONTH SOFR FUT  DEC27    | FUTURE CONTRACT ON           3 MONTH SOFR FUT  DEC27 0.00000000                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |        19 | NC      | $4603462.50    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AG 2024-NLP A V/R 08/15/26     | AG TRUST 2024-NLP SER 2024-NLP CL A V/R REGD 144A P/P 5.97460000                               | CUSIP: 00792MAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     95033 | PA      | $95440.81      | 0.03%             | 2041-07-15      | Variable      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA V/R 10/19/27           | BPCE SA REGD V/R 144A P/P 2.04500000                                                           | CUSIP: 05583JAK8<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1374338.70    | 0.42%             | 2027-10-19      | Variable      | 2.04%                 | Yes           |                  2 | On Loan: No      |
| FHR 5607 FA V/R 12/25/55       | FREDDIE MAC REMICS SER 5607 CL FA V/R 5.09515000                                               | CUSIP: 3137HNZB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    489788 | PA      | $490390.34     | 0.15%             | 2055-12-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| WOODSIDE FINANCE 3.7% 09/15/26 | WOODSIDE FINANCE LTD REGD 144A P/P 3.70000000                                                  | CUSIP: 980236AN3<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |   2000000 | PA      | $1991914.46    | 0.61%             | 2026-09-15      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| SALTT 2021-1A 2.301% 12/15/27  | STONEPEAK 2021-1 ABS SER 2021-1A CL AA REGD 144A P/P 2.30100000                                | CUSIP: 78433XAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     86790 | PA      | $84532.83      | 0.03%             | 2033-02-28      | Fixed         | 2.30%                 | Yes           |                  2 | On Loan: No      |
| CENTERPOINT ENE 1.45% 06/01/26 | CENTERPOINT ENERGY INC REGD 1.45000000                                                         | CUSIP: 15189TBA4<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1973625.44    | 0.61%             | 2026-06-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| NEUB 2021-43A AR V/R 07/17/36  | NEUBERGER BERMAN LOAN ADVISERS CLO 4 SER 2021-43A CL AR V/R REGD 144A P/P 4.93163000           | CUSIP: 64134AAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $400416.40     | 0.12%             | 2036-07-17      | Variable      | 4.93%                 | Yes           |                  2 | On Loan: No      |
| EXELON CORP 3.4% 04/15/26      | EXELON CORP REGD 3.40000000                                                                    | CUSIP: 30161NAU5<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    816000 | PA      | $813712.94     | 0.25%             | 2026-04-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| NEUB 2021-45A AR V/R 10/14/36  | NEUBERGER BERMAN LOAN ADVISERS CLO 4 SER 2021-45A CL AR V/R REGD 144A P/P 4.97150000           | CUSIP: 64134MAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $399900.00     | 0.12%             | 2036-10-14      | Variable      | 4.97%                 | Yes           |                  2 | On Loan: No      |
| NAVRL 2025-C A 4.8% 10/15/55   | NAVIENT REFINANCE LOAN TRUST 2025-C SER 2025-C CL A REGD 144A P/P 4.80000000                   | CUSIP: 638973AA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    900000 | PA      | $903291.30     | 0.28%             | 2055-10-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| MFRA 2020-NQM2 A V/R 04/25/65  | MFA 2020-NQM2 TRUST SER 2020-NQM2 CL A1 V/R REGD 144A P/P 1.38100000                           | CUSIP: 552751AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     76854 | PA      | $75394.72      | 0.02%             | 2065-04-25      | Variable      | 1.38%                 | Yes           |                  2 | On Loan: No      |
| F&G GLOBAL FUND 1.75% 06/30/26 | F&G GLOBAL FUNDING REGD 144A P/P 1.75000000                                                    | CUSIP: 30321L2A9<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3449242.76    | 1.06%             | 2026-06-30      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP 1.75% 03/01/26         | MPLX LP REGD 1.75000000                                                                        | CUSIP: 55336VBR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3378375.97    | 1.04%             | 2026-03-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR &  S/UP 06/15/26 | ALGONQUIN PWR & UTILITY REGD S/UP 5.36500000                                                   | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   1236000 | PA      | $1242428.04    | 0.38%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL V/R 10/02/26 | CANADIAN IMPERIAL BANK REGD V/R 5.32253400                                                     | CUSIP: 13607LWU3<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $705195.69     | 0.22%             | 2026-10-02      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF  V/R 07/02/27 | NATIONAL BANK OF CANADA REGD V/R 5.13253200                                                    | CUSIP: 63307A2Z7<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   2400000 | PA      | $2407063.06    | 0.74%             | 2027-07-02      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| ACREC 2023-FL2 A V/R 05/19/27  | ACREC 2023-FL2 LLC SER 2023-FL2 CL A V/R REGD 144A P/P 6.18896000                              | CUSIP: 00501BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    208682 | PA      | $209194.17     | 0.06%             | 2038-02-19      | Variable      | 6.19%                 | Yes           |                  2 | On Loan: No      |
| LCM 31A AR V/R 07/20/34        | LCM 31 LTD SER 31A CL AR V/R REGD 144A P/P 5.16444000                                          | CUSIP: 50201QAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000614.00    | 0.31%             | 2034-07-20      | Variable      | 5.16%                 | Yes           |                  2 | On Loan: No      |
| HCA INC 4.5% 02/15/27          | HCA INC REGD 4.50000000                                                                        | CUSIP: 404119BU2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $476041.78     | 0.15%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNR 2025-H20 FA V/R 09/20/75   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2025-H20 CL FA V/R 4.86888000                     | CUSIP: 38384LB73<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    350653 | PA      | $350985.21     | 0.11%             | 2075-09-20      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| TLOT 2024-B A2B V/R 07/20/26   | TOYOTA LEASE OWNER TRUST 2024-B SER 2024-B CL A2B V/R REGD 144A P/P 4.53888000                 | CUSIP: 891943AC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    131769 | PA      | $131808.88     | 0.04%             | 2027-02-22      | Variable      | 4.54%                 | Yes           |                  2 | On Loan: No      |
| MIZUHO FINANCIAL  V/R 05/13/31 | MIZUHO FINANCIAL GROUP REGD V/R 5.12712100                                                     | CUSIP: 60687YDK2<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   2700000 | PA      | $2703816.86    | 0.83%             | 2031-05-13      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| COX COMMUNICATI 3.35% 09/15/26 | COX COMMUNICATIONS INC REGD 144A P/P 3.35000000                                                | CUSIP: 224044CG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $218583.27     | 0.07%             | 2026-09-15      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| TPMT 2024-CES1 A V/R 09/25/31  | TOWD POINT MORTGAGE TRUST 2024-CES1 SER 2024-CES1 CL A1A V/R REGD 144A P/P 5.84800000          | CUSIP: 89183CAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    177283 | PA      | $178498.67     | 0.05%             | 2064-01-25      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| ATHENE GLOBAL FUN V/R 01/07/27 | ATHENE GLOBAL FUNDING REGD V/R 144A P/P 4.92692400                                             | CUSIP: 04685A4F5<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2005305.70    | 0.62%             | 2027-01-07      | Variable      | 4.93%                 | Yes           |                  2 | On Loan: No      |
| ENERGY TRANSFER  5.5% 06/01/27 | ENERGY TRANSFER LP REGD SER * 5.50000000                                                       | CUSIP: 29278NAN3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203098.44     | 0.06%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI F V/R 04/15/30 | SUMITOMO MITSUI FINL GRP REGD V/R 5.14166100                                                   | CUSIP: 86562MDR8<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    181000 | PA      | $181258.22     | 0.06%             | 2030-04-15      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| NSLT 2025-DA A 4.65% 08/20/54  | NELNET STUDENT LOAN TRUST 2025-D SER 2025-DA CL A1A REGD 144A P/P 4.65000000                   | CUSIP: 639931AA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    700000 | PA      | $703805.34     | 0.22%             | 2054-08-20      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| PPMC 2021-5A AR V/R 10/18/34   | PPM CLO 5 LTD SER 2021-5A CL AR V/R REGD 144A P/P 0.00000000                                   | CUSIP: 69356TAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1600400.00    | 0.49%             | 2034-10-18      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GR V/R 01/05/28 | LLOYDS BANKING GROUP PLC REGD V/R 5.68385800                                                   | CUSIP: 53944YAY9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1275000 | PA      | $1287958.92    | 0.40%             | 2028-01-05      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC 1.4% 08/15/26       | VMWARE LLC REGD 1.40000000                                                                     | CUSIP: 928563AJ4<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    700000 | PA      | $687744.81     | 0.21%             | 2026-08-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| FISERV INC 5.15% 03/15/27      | FISERV INC REGD 5.15000000                                                                     | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    300000 | PA      | $302836.86     | 0.09%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FHR 5484 FA V/R 12/25/54       | FREDDIE MAC REMICS SER 5484 CL FA V/R 5.27180000                                               | CUSIP: 3137HHKS9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     72528 | PA      | $72767.66      | 0.02%             | 2054-12-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS V/R 01/13/27       | BNP PARIBAS REGD V/R 144A P/P 1.32300000                                                       | CUSIP: 09659W2N3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1500000 | PA      | $1494565.50    | 0.46%             | 2027-01-13      | Variable      | 1.32%                 | Yes           |                  2 | On Loan: No      |
| COREBRIDGE GLOB F V/R 01/07/28 | COREBRIDGE GLOB FUNDING REGD V/R 144A P/P 4.84692500                                           | CUSIP: 00138CBE7<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999938.11     | 0.31%             | 2028-01-07      | Variable      | 4.85%                 | Yes           |                  2 | On Loan: No      |
| FNR 2025-19 FC V/R 03/25/55    | FANNIE MAE REMICS SER 2025-19 CL FC V/R 5.23180000                                             | CUSIP: 3136BVBY3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    442340 | PA      | $443623.02     | 0.14%             | 2055-03-25      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| FNR 2024-103 FJ V/R 01/25/55   | FANNIE MAE REMICS SER 2024-103 CL FJ V/R 5.27180000                                            | CUSIP: 3136BUPN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    594367 | PA      | $596381.69     | 0.18%             | 2055-01-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| FHR 5584 DF V/R 10/25/55       | FREDDIE MAC REMICS SER 5584 CL DF V/R 4.97180000                                               | CUSIP: 3137HNCM8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2064512 | PA      | $2068446.61    | 0.64%             | 2055-10-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| PRPM 2025-RCF6 A V/R 12/25/29  | PRPM 2025-RCF6 LLC SER 2025-RCF6 CL A1 V/R REGD 144A P/P 4.99000000                            | CUSIP: 69393BAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    200000 | PA      | $200347.78     | 0.06%             | 2055-12-25      | Variable      | 4.99%                 | Yes           |                  2 | On Loan: No      |
| FHR 5513 MF V/R 11/25/54       | FREDDIE MAC REMICS SER 5513 CL MF V/R 5.01180000                                               | CUSIP: 3137HKEX8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3199285 | PA      | $3207500.53    | 0.99%             | 2054-11-25      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| MMAF 2023-A A2 5.79% 12/13/25  | MMAF EQUIPMENT FINANCE LLC 2023-A SER 2023-A CL A2 REGD 144A P/P 5.79000000                    | CUSIP: 55317WAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     16381 | PA      | $16391.03      | 0.01%             | 2026-11-13      | Fixed         | 5.79%                 | Yes           |                  2 | On Loan: No      |
| EXPAND ENERGY C 6.75% 04/15/29 | EXPAND ENERGY CORP REGD 144A P/P 6.75000000                                                    | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201473.07     | 0.06%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FNR 2025-16 FA V/R 03/25/55    | FANNIE MAE REMICS SER 2025-16 CL FA V/R 5.22180000                                             | CUSIP: 3136BU5D8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    417769 | PA      | $418762.26     | 0.13%             | 2055-03-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINE 4.375% 04/15/26 | UNITED AIRLINES INC REGD 144A P/P 4.37500000                                                   | CUSIP: 90932LAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2098958.82    | 0.64%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| CRVNA 2023-P4  6.16% 10/10/28  | CARVANA AUTO RECEIVABLES TRUST 2023-P4 SER 2023-P4 CL A3 REGD 144A P/P 6.16000000              | CUSIP: 14687NAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1145710 | PA      | $1157042.06    | 0.36%             | 2028-10-10      | Fixed         | 6.16%                 | Yes           |                  2 | On Loan: No      |
| MABS 2004-OPT2 A V/R 09/25/34  | MASTR ASSET BACKED SECURITIES TRUST 2004-OPT2 SER 2004-OPT2 CL A1 V/R REGD 4.76876000          | CUSIP: 57643LFG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    124393 | PA      | $114151.28     | 0.04%             | 2034-09-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FI V/R 08/13/27 | AMERICAN HONDA FINANCE REGD V/R MTN SER GMTN 4.78396500                                        | CUSIP: 02665WGH8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2907307.13    | 0.89%             | 2027-08-13      | Variable      | 4.78%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED M V/R 07/13/26 | BANQUE FED CRED MUTUEL REGD V/R 144A P/P 5.48989500                                            | CUSIP: 06675DCG5<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |    875000 | PA      | $880245.27     | 0.27%             | 2026-07-13      | Variable      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| AERCAP IRELAND  2.45% 10/29/26 | AERCAP IRELAND CAP/GLOBA REGD 2.45000000                                                       | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1700000 | PA      | $1674619.00    | 0.51%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS  3.5% 07/26/26 | IMPERIAL BRANDS FIN PLC REGD REG S 3.50000000                                                  | CUSIP: G471ABNV8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    361000 | PA      | $359335.31     | 0.11%             | 2026-07-26      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHR 4906 WF V/R 12/15/38       | FREDDIE MAC REMICS SER 4906 CL WF V/R 4.82904000                                               | CUSIP: 3137FNWL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    813928 | PA      | $803895.81     | 0.25%             | 2038-12-15      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| 7-ELEVEN INC 0.95% 02/10/26    | 7-ELEVEN INC REGD 144A P/P 0.95000000                                                          | CUSIP: 817826AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $596165.99     | 0.18%             | 2026-02-10      | Fixed         | 0.95%                 | Yes           |                  2 | On Loan: No      |
| ROYAL BANK OF CAN V/R 10/18/28 | ROYAL BANK OF CANADA REGD V/R MTN SER GMTN 4.94034400                                          | CUSIP: 78017FZU0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1711120.16    | 0.53%             | 2028-10-18      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| TPMT 2021-SJ2 A1 V/R 12/25/61  | TOWD POINT MORTGAGE TRUST 2021-SJ2 SER 2021-SJ2 CL A1A V/R REGD 144A P/P 2.25000000            | CUSIP: 89180LAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    497574 | PA      | $485506.78     | 0.15%             | 2061-12-25      | Variable      | 2.25%                 | Yes           |                  2 | On Loan: No      |
| BLUEM 2018-3A A1 V/R 10/25/30  | BLUEMOUNTAIN CLO 2018-3 LTD SER 2018-3A CL A1R V/R REGD 144A P/P 5.04798000                    | CUSIP: 09630AAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    206010 | PA      | $206433.77     | 0.06%             | 2030-10-25      | Variable      | 5.05%                 | Yes           |                  2 | On Loan: No      |
| ROCKT 2021-2A A1 V/R 07/20/34  | ROCKFORD TOWER CLO 2021-2 LTD SER 2021-2A CL A1R V/R REGD 144A P/P 5.01444000                  | CUSIP: 77341LAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000596.00    | 0.61%             | 2034-07-20      | Variable      | 5.01%                 | Yes           |                  2 | On Loan: No      |
| BAT INTL FINAN 1.668% 03/25/26 | BAT INTL FINANCE PLC REGD 1.66800000                                                           | CUSIP: 05530QAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1600000 | PA      | $1587339.52    | 0.49%             | 2026-03-25      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE V/R 06/09/27 | JACKSON NATL LIFE GLOBAL REGD V/R 144A P/P 5.05792600                                          | CUSIP: 46849CJR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $201088.38     | 0.06%             | 2027-06-09      | Variable      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| PRPM 2024-NQM4 A V/R 12/26/69  | PRPM 2024-NQM4 TRUST SER 2024-NQM4 CL A1 V/R REGD 144A P/P 5.67400000                          | CUSIP: 69381UAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    157827 | PA      | $158908.20     | 0.05%             | 2069-12-26      | Variable      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| FORTIS INC 3.055% 10/04/26     | FORTIS INC REGD SER WI 3.05500000                                                              | CUSIP: 349553AM9<br>LEI: 549300MQYQ9Y065XPR71 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $594603.11     | 0.18%             | 2026-10-04      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| MF1 2020-FL4 A V/R 10/15/25    | MF1 2020-FL4 LTD SER 2020-FL4 CL A V/R REGD 144A P/P 5.77344000                                | CUSIP: 58003UAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    158274 | PA      | $158306.27     | 0.05%             | 2035-12-15      | Variable      | 5.77%                 | Yes           |                  2 | On Loan: No      |
| CONAGRA BRANDS 7.125% 10/01/26 | CONAGRA BRANDS INC REGD 7.12500000                                                             | CUSIP: 205887AF9<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022823.64    | 0.31%             | 2026-10-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY V/R 11/16/27  | DEUTSCHE BANK NY REGD V/R 5.27513700                                                           | CUSIP: 251526CN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    935000 | PA      | $939621.21     | 0.29%             | 2027-11-16      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| TAOT 2025-B A2 4.46% 03/15/28  | TOYOTA AUTO RECEIVABLES 2025-B OWNER TRUST SER 2025-B CL A2A REGD 4.46000000                   | CUSIP: 89231HAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1703408 | PA      | $1706876.09    | 0.52%             | 2028-03-15      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA IN 2.25% 02/15/26 | T-MOBILE USA INC REGD 2.25000000                                                               | CUSIP: 87264ABR5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4100000 | PA      | $4081980.62    | 1.25%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| OSCAR 2023-1A  5.81% 11/10/26  | OSCAR US FUNDING XV LLC SER 2023-1A CL A3 REGD 144A P/P 5.81000000                             | CUSIP: 68785CAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JP        |    140224 | PA      | $141189.79     | 0.04%             | 2027-12-10      | Fixed         | 5.81%                 | Yes           |                  2 | On Loan: No      |
| NATIONWIDE BLDG S V/R 02/16/28 | NATIONWIDE BLDG SOCIETY REGD V/R EMTN 5.34613700                                               | CUSIP: 63861WAG0<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201348.41     | 0.06%             | 2028-02-16      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS P V/R 05/17/27 | NATWEST MARKETS PLC REGD V/R 144A P/P 4.95613700                                               | CUSIP: 63906YAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    750000 | PA      | $754311.97     | 0.23%             | 2027-05-17      | Variable      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| SNDPT 2020-3A A1 V/R 01/25/32  | SOUND POINT CLO XXVIII LTD SER 2020-3A CL A1R V/R REGD 144A P/P 5.13798000                     | CUSIP: 83615CAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    424771 | PA      | $425327.28     | 0.13%             | 2032-01-25      | Variable      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| GNR 2023-H24 FA V/R 10/20/73   | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SER 2023-H24 CL FA V/R 5.04888000                     | CUSIP: 38383KGP1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    363350 | PA      | $367289.16     | 0.11%             | 2073-10-20      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS P V/R 09/29/26 | NATWEST MARKETS PLC REGD V/R 144A P/P 4.86872200                                               | CUSIP: 63906YAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    300000 | PA      | $301074.12     | 0.09%             | 2026-09-29      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| GSMBS 2024-PJ7 A V/R 07/25/44  | GS MORTGAGE-BACKED SECURITIES TRUST 2024-PJ7 SER 2024-PJ7 CL A25 V/R REGD 144A P/P 5.39169000  | CUSIP: 362949BR9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    426730 | PA      | $427888.44     | 0.13%             | 2054-11-25      | Variable      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| SMB 2023-B A1B V/R 10/16/56    | SMB PRIVATE EDUCATION LOAN TRUST 2023-B SER 2023-B CL A1B V/R REGD 144A P/P 5.94202000         | CUSIP: 78449HAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    130397 | PA      | $133178.51     | 0.04%             | 2056-10-16      | Variable      | 5.94%                 | Yes           |                  2 | On Loan: No      |
| HERTZ 2023-1A  5.49% 06/25/26  | HERTZ VEHICLE FINANCING III LLC SER 2023-1A CL A REGD 144A P/P 5.49000000                      | CUSIP: 42806MBS7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1004295.60    | 0.31%             | 2027-06-25      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CRE 5.125% 11/05/26 | FORD MOTOR CREDIT CO LLC REGD 5.12500000                                                       | CUSIP: 345397F81<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $804009.67     | 0.25%             | 2026-11-05      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SAMMONS FINANCIAL V/R 09/02/27 | SAMMONS FINANCIAL GLOBAL REGD V/R 144A P/P 5.04444000                                          | CUSIP: 79587J2D4<br>LEI: 635400IPRNPM6HDHRS48 | Long             | DBT              | CORP              | US        |    600000 | PA      | $602517.07     | 0.19%             | 2027-09-02      | Variable      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| FHR 5491 FL V/R 01/25/55       | FREDDIE MAC REMICS SER 5491 CL FL V/R 5.27180000                                               | CUSIP: 3137HJ5P8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    253235 | PA      | $254101.07     | 0.08%             | 2055-01-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDING 4.375% 05/01/26 | AVOLON HOLDINGS FNDG LTD REGD 144A P/P 4.37500000                                              | CUSIP: 05401AAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    200000 | PA      | $199890.83     | 0.06%             | 2026-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| KKR 11 AR V/R 01/15/31         | KKR CLO 11 LTD SER 11 CL AR V/R REGD 144A P/P 5.34615000                                       | CUSIP: 48250MAK3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     97875 | PA      | $97948.32      | 0.03%             | 2031-01-15      | Variable      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| HARBOUR ENERGY P 5.5% 10/15/26 | HARBOUR ENERGY PLC REGD 144A P/P 5.50000000                                                    | CUSIP: 411618AB7<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $298452.00     | 0.09%             | 2026-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FS KKR CAPITAL C 3.4% 01/15/26 | FS KKR CAPITAL CORP REGD 3.40000000                                                            | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    600000 | PA      | $598729.41     | 0.18%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| F/C US ULTRA BOND CBT MAR26    | FUTURE CONTRACT ON           US ULTRA BOND CBT MAR26 0.00000000                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |       -17 | NC      | $-2055937.50   | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| SMB 2024-A A1B V/R 03/15/56    | SMB PRIVATE EDUCATION LOAN TRUST 2024-A SER 2024-A CL A1B V/R REGD 144A P/P 5.59202000         | CUSIP: 831943AB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    159385 | PA      | $161091.32     | 0.05%             | 2056-03-15      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| JACKSON NATL LIFE V/R 09/12/28 | JACKSON NATL LIFE GLOBAL REGD V/R 144A P/P 5.09783200                                          | CUSIP: 46849CJS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2012393.98    | 0.62%             | 2028-09-12      | Variable      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| DEFT 2024-2 A2 4.69% 08/22/30  | DELL EQUIPMENT FINANCE TRUST 2024-2 SER 2024-2 CL A2 REGD 144A P/P 4.69000000                  | CUSIP: 24704EAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1252119 | PA      | $1254580.52    | 0.39%             | 2030-08-22      | Fixed         | 4.69%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE &  V/R 02/24/28 | JPMORGAN CHASE & CO REGD V/R SER . 5.24364400                                                  | CUSIP: 46647PCY0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    339000 | PA      | $341618.13     | 0.10%             | 2028-02-24      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| VONTIER CORP 1.8% 04/01/26     | VONTIER CORP REGD SER WI 1.80000000                                                            | CUSIP: 928881AB7<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |    600000 | PA      | $594626.38     | 0.18%             | 2026-04-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALT 1.65% 09/01/26 | UNIVERSAL HEALTH SVCS REGD SER WI 1.65000000                                                   | CUSIP: 913903AZ3<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    600000 | PA      | $587523.11     | 0.18%             | 2026-09-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| MFRA 2020-NQM1 A V/R 03/25/65  | MFA 2020-NQM1 TRUST SER 2020-NQM1 CL A1 V/R REGD 144A P/P 2.47900000                           | CUSIP: 552754AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     88868 | PA      | $86592.35      | 0.03%             | 2065-03-25      | Variable      | 2.48%                 | Yes           |                  2 | On Loan: No      |
| BAAT 2023-1A A 5.53% 02/15/28  | BANK OF AMERICA AUTO TRUST 2023-1 SER 2023-1A CL A3 REGD 144A P/P 5.53000000                   | CUSIP: 06428AAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1019451 | PA      | $1026612.55    | 0.32%             | 2028-02-15      | Fixed         | 5.53%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA V/R 01/18/27           | BPCE SA REGD V/R REG S EMTN 5.97500000                                                         | CUSIP: 05584KAN8<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |    250000 | PA      | $250478.78     | 0.08%             | 2027-01-18      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE &  V/R 10/22/28 | JPMORGAN CHASE & CO REGD V/R 4.93342600                                                        | CUSIP: 46647PEN2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    800000 | PA      | $804061.21     | 0.25%             | 2028-10-22      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| JPMMT 2019-INV3  V/R 06/01/42  | JP MORGAN MORTGAGE TRUST 2019-INV3 SER 2019-INV3 CL A3 V/R REGD 144A P/P 3.50000000            | CUSIP: 46591LAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    137132 | PA      | $125611.02     | 0.04%             | 2050-05-25      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| GA GLOBAL FUNDI 2.25% 01/06/27 | GA GLOBAL FUNDING TRUST REGD 144A P/P 2.25000000                                               | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293759.45     | 0.09%             | 2027-01-06      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP 2.875% 01/15/26 | AIR LEASE CORP REGD MTN 2.87500000                                                             | CUSIP: 00914AAJ1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1127000 | PA      | $1124900.83    | 0.35%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDI 5.3% 03/01/28 | SOUTHERN CAL EDISON REGD 5.30000000                                                            | CUSIP: 842400HU0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $612017.45     | 0.19%             | 2028-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FHR 5565 FB V/R 08/25/55       | FREDDIE MAC REMICS SER 5565 CL FB V/R 5.02180000                                               | CUSIP: 3137HMGK0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    988269 | PA      | $989003.53     | 0.30%             | 2055-08-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| FNR 2017-108 AF V/R 01/25/48   | FANNIE MAE REMICS SER 2017-108 CL AF V/R 4.48628000                                            | CUSIP: 3136B0SA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    637046 | PA      | $629002.32     | 0.19%             | 2048-01-25      | Variable      | 4.49%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC V/R 03/01/28 | NATWEST GROUP PLC REGD V/R 5.46574900                                                          | CUSIP: 639057AM0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1510000 | PA      | $1519810.52    | 0.47%             | 2028-03-01      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| ATCLO 2021-16A A V/R 01/20/34  | ATLAS SENIOR LOAN FUND XVI LTD SER 2021-16A CL AR V/R REGD 144A P/P 5.01900000                 | CUSIP: 04940AAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1600400.00    | 0.49%             | 2034-01-20      | Variable      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE &  V/R 04/22/28 | JPMORGAN CHASE & CO REGD V/R SER . 4.99342600                                                  | CUSIP: 46647PEF9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    600000 | PA      | $604107.40     | 0.19%             | 2028-04-22      | Variable      | 4.99%                 | No            |                  2 | On Loan: No      |
| SKYWORKS SOLUTIO 1.8% 06/01/26 | SKYWORKS SOLUTIONS INC REGD 1.80000000                                                         | CUSIP: 83088MAK8<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197255.74     | 0.06%             | 2026-06-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| NAVSL 2020-GA  1.17% 02/15/28  | NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 2020-G SER 2020-GA CL A REGD 144A P/P 1.17000000     | CUSIP: 63941UAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    104444 | PA      | $98495.35      | 0.03%             | 2069-09-16      | Fixed         | 1.17%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** Morgan Stanley Pathway Funds

**Signature:** Francis Smith

**Name of Signer:** Francis Smith

**Title:** Chief Financial Officer