# EDGAR Filing Document

**Accession Number:** 0001469192
**File Stem:** 0002071691-25-001175
**Filing Date:** 2025-9
**Character Count:** 86544
**Document Hash:** 9b37657fe7d6ddef6e9a9de329a302c7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-001175.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0002071691-25-001175

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEW YORK LIFE INVESTMENTS FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001469192

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22321
- **FILM NUMBER:** 251332087

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212 576 7000

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY FUNDS TRUST
- **DATE OF NAME CHANGE:** 20090728

## Series and Classes Contracts Data

### NYLI CBRE Real Estate Fund (Series ID: S000067319)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000216487 | Class C        | CRCRX           |
| C000216488 | Investor Class | CRVRX           |
| C000216489 | Class I        | CRARX           |
| C000216491 | Class R6       | VREQX           |
| C000216492 | Class A        | CLARX           |

## Nport-Ex

## NYLI Conservative ETF Allocation Fund<br>

## Portfolio of Investments July 31, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Investment Companies 94.6%** | **Investment Companies 94.6%** | **Investment Companies 94.6%** |
| **Equity Funds 39.7%** | **Equity Funds 39.7%** | **Equity Funds 39.7%** |
| Invesco S&P SmallCap Quality ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 62888 | &nbsp;&nbsp;$2591614 |
| iShares Core MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp; 40656 | &nbsp;&nbsp;&nbsp;&nbsp; 3328507 |
| iShares Core MSCI Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp; 12655 | &nbsp;&nbsp;&nbsp;&nbsp; 763476 |
| iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp; 4375 | &nbsp;&nbsp;&nbsp;&nbsp; 2777687 |
| iShares Core S&P Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 8444 | &nbsp;&nbsp;&nbsp;&nbsp; 532225 |
| iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;&nbsp;&nbsp; 16567 | &nbsp;&nbsp;&nbsp;&nbsp; 1040739 |
| Schwab U.S. Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 10176 | &nbsp;&nbsp;&nbsp;&nbsp; 290830 |
| Vanguard Mega Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 33199 | &nbsp;&nbsp;&nbsp;&nbsp; 7644402 |
| Vanguard Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 6245 | &nbsp;&nbsp;&nbsp;&nbsp; 1786008 |
| Total Equity Funds<br> (Cost $17,073,288) |  | &nbsp;&nbsp;&nbsp;&nbsp;20755488 |
| **Fixed Income Funds 54.9%** | **Fixed Income Funds 54.9%** | **Fixed Income Funds 54.9%** |
| Invesco Senior Loan ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 125273 | &nbsp;&nbsp;&nbsp;&nbsp; 2621964 |
| iShares 0-5 Year High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 30438 | &nbsp;&nbsp;&nbsp;&nbsp; 1310052 |
| iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 10682 | &nbsp;&nbsp;&nbsp;&nbsp; 928479 |
| iShares Broad USD High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 42023 | &nbsp;&nbsp;&nbsp;&nbsp; 1571240 |
| iShares Broad USD Investment Grade Corporate Bond ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 78910 | &nbsp;&nbsp;&nbsp;&nbsp; 4047294 |
| iShares Convertible Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042603 |
| iShares Core U.S. Aggregate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164088 | &nbsp;&nbsp;&nbsp;&nbsp;16182359 |
| Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048946 |
| Total Fixed Income Funds<br> (Cost $28,586,825) |  | &nbsp;&nbsp;&nbsp;&nbsp;28752937 |
| Total Investment Companies<br> (Cost $45,660,113) |  | &nbsp;&nbsp;&nbsp;&nbsp;49508425 |
| **Short-Term Investments 11.9%** | **Short-Term Investments 11.9%** | **Short-Term Investments 11.9%** |
| **Affiliated Investment Company 5.3%** | **Affiliated Investment Company 5.3%** | **Affiliated Investment Company 5.3%** |
| NYLI U.S. Government Liquidity Fund, 4.215% (b) | &nbsp;&nbsp;&nbsp;&nbsp;2760881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760881 |
| **Unaffiliated Investment Company 6.6%** | **Unaffiliated Investment Company 6.6%** | **Unaffiliated Investment Company 6.6%** |
| Invesco Government & Agency Portfolio, 4.342% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;3455465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455465 |
| Total Short-Term Investments<br> (Cost $6,216,346) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6216346 |
| Total Investments<br> (Cost $51,876,459) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106.5% | &nbsp;&nbsp;&nbsp;&nbsp;55724771 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3411896) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$52312875 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of July 31, 2025, the aggregate market value of securities on loan was $3,484,047; the total market value of collateral held by the Fund was $3,568,103. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $112,638. The Fund received cash collateral with a value of $3,455,465. |

---

------

(b) Current yield as of July 31, 2025.

(c) Represents a security purchased with cash collateral received for securities on loan.

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$2151 | &nbsp;&nbsp;$3708 | &nbsp;&nbsp;$(3098) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2761 | &nbsp;&nbsp;$30 | &nbsp;&nbsp;$— | &nbsp;&nbsp;2761 |

---

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| MSCI—Morgan Stanley Capital International |
| USD—United States Dollar |

---

The following is a summary of the fair valuations according to the inputs used as of July 31, 2025, for valuing the Fund's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $20755488 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $20755488 |
| &nbsp;&nbsp;&nbsp;Fixed Income Funds | &nbsp;&nbsp;&nbsp;&nbsp; 28752937 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 28752937 |
| Total Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;49508425 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;49508425 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 2760881 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2760881 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 3455465 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3455465 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6216346 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6216346 |
| Total Investments in Securities | &nbsp;&nbsp;$55724771 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$55724771 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI Moderate ETF Allocation Fund<br>

## Portfolio of Investments July 31, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Investment Companies 94.7%** | **Investment Companies 94.7%** | **Investment Companies 94.7%** |
| **Equity Funds 59.8%** | **Equity Funds 59.8%** | **Equity Funds 59.8%** |
| Invesco S&P SmallCap Quality ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 206881 | &nbsp;&nbsp;$8525566 |
| iShares Core MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp; 218032 | &nbsp;&nbsp;&nbsp;&nbsp; 17850280 |
| iShares Core MSCI Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp; 70501 | &nbsp;&nbsp;&nbsp;&nbsp; 4253325 |
| iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp; 14456 | &nbsp;&nbsp;&nbsp;&nbsp; 9178115 |
| iShares Core S&P Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 56246 | &nbsp;&nbsp;&nbsp;&nbsp; 3545185 |
| iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;&nbsp;&nbsp; 54588 | &nbsp;&nbsp;&nbsp;&nbsp; 3429218 |
| Schwab U.S. Mid-Cap ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 67636 | &nbsp;&nbsp;&nbsp;&nbsp; 1933037 |
| Vanguard Mega Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 186427 | &nbsp;&nbsp;&nbsp;&nbsp; 42926681 |
| Vanguard Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 41588 | &nbsp;&nbsp;&nbsp;&nbsp; 11893752 |
| Total Equity Funds<br> (Cost $80,422,724) |  | &nbsp;&nbsp;&nbsp;&nbsp;103535159 |
| **Fixed Income Funds 34.9%** | **Fixed Income Funds 34.9%** | **Fixed Income Funds 34.9%** |
| Invesco Senior Loan ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 204915 | &nbsp;&nbsp;&nbsp;&nbsp; 4288871 |
| iShares 0-5 Year High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 20113 | &nbsp;&nbsp;&nbsp;&nbsp; 865663 |
| iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 35393 | &nbsp;&nbsp;&nbsp;&nbsp; 3076360 |
| iShares Broad USD High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 115621 | &nbsp;&nbsp;&nbsp;&nbsp; 4323069 |
| iShares Broad USD Investment Grade Corporate Bond ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 159085 | &nbsp;&nbsp;&nbsp;&nbsp; 8159470 |
| iShares Convertible Bond ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3493712 |
| iShares Core U.S. Aggregate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32709394 |
| Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485984 |
| Total Fixed Income Funds<br> (Cost $59,594,233) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60402523 |
| Total Investment Companies<br> (Cost $140,016,957) |  | &nbsp;&nbsp;&nbsp;&nbsp;163937682 |
| **Short-Term Investments 6.7%** | **Short-Term Investments 6.7%** | **Short-Term Investments 6.7%** |
| **Affiliated Investment Company 5.2%** | **Affiliated Investment Company 5.2%** | **Affiliated Investment Company 5.2%** |
| NYLI U.S. Government Liquidity Fund, 4.215% (b) | &nbsp;&nbsp;&nbsp;&nbsp;9054094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9054094 |
| **Unaffiliated Investment Company 1.5%** | **Unaffiliated Investment Company 1.5%** | **Unaffiliated Investment Company 1.5%** |
| Invesco Government & Agency Portfolio, 4.342% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;2555860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2555860 |
| Total Short-Term Investments<br> (Cost $11,609,954) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11609954 |
| Total Investments<br> (Cost $151,626,911) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101.4% | &nbsp;&nbsp;&nbsp;&nbsp;175547636 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2445627) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$173102009 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of July 31, 2025, the aggregate market value of securities on loan was $5,935,591; the total market value of collateral held by the Fund was $6,439,431. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $3,883,571. The Fund received cash collateral with a value of $2,555,860. |

---

------

(b) Current yield as of July 31, 2025.

(c) Represents a security purchased with cash collateral received for securities on loan.

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$6080 | &nbsp;&nbsp;$10229 | &nbsp;&nbsp;$(7255) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$9054 | &nbsp;&nbsp;$96 | &nbsp;&nbsp;$— | &nbsp;&nbsp;9054 |

---

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| MSCI—Morgan Stanley Capital International |
| USD—United States Dollar |

---

The following is a summary of the fair valuations according to the inputs used as of July 31, 2025, for valuing the Fund's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $103535159 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $103535159 |
| &nbsp;&nbsp;&nbsp;Fixed Income Funds | &nbsp;&nbsp;&nbsp;&nbsp; 60402523 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 60402523 |
| Total Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;163937682 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;163937682 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 9054094 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 9054094 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 2555860 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2555860 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11609954 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11609954 |
| Total Investments in Securities | &nbsp;&nbsp;$175547636 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$175547636 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI Growth ETF Allocation Fund<br>

## Portfolio of Investments July 31, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Investment Companies 94.8%** | **Investment Companies 94.8%** | **Investment Companies 94.8%** |
| **Equity Funds 79.9%** | **Equity Funds 79.9%** | **Equity Funds 79.9%** |
| Invesco S&P SmallCap Quality ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 182246 | &nbsp;&nbsp;$7510358 |
| iShares Core MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp; 263073 | &nbsp;&nbsp;&nbsp;&nbsp; 21537786 |
| iShares Core MSCI Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp; 86969 | &nbsp;&nbsp;&nbsp;&nbsp; 5246840 |
| iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp; 12674 | &nbsp;&nbsp;&nbsp;&nbsp; 8046722 |
| iShares Core S&P Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 73592 | &nbsp;&nbsp;&nbsp;&nbsp; 4638504 |
| iShares Core S&P Small-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 19171 | &nbsp;&nbsp;&nbsp;&nbsp; 2114178 |
| iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;&nbsp;&nbsp; 47613 | &nbsp;&nbsp;&nbsp;&nbsp; 2991049 |
| Schwab U.S. Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 88490 | &nbsp;&nbsp;&nbsp;&nbsp; 2529044 |
| Schwab U.S. Small-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 207348 | &nbsp;&nbsp;&nbsp;&nbsp; 5339211 |
| Vanguard Mega Cap ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 195792 | &nbsp;&nbsp;&nbsp;&nbsp; 45083066 |
| Vanguard Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 54489 | &nbsp;&nbsp;&nbsp;&nbsp; 15583309 |
| Total Equity Funds<br> (Cost $94,681,469) |  | &nbsp;&nbsp;&nbsp;&nbsp;120620067 |
| **Fixed Income Funds 14.9%** | **Fixed Income Funds 14.9%** | **Fixed Income Funds 14.9%** |
| Invesco Senior Loan ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 180389 | &nbsp;&nbsp;&nbsp;&nbsp; 3775542 |
| iShares 0-5 Year High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 17543 | &nbsp;&nbsp;&nbsp;&nbsp; 755051 |
| iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 31046 | &nbsp;&nbsp;&nbsp;&nbsp; 2698519 |
| iShares Broad USD High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3786672 |
| iShares Broad USD Investment Grade Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059959 |
| iShares Convertible Bond ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3047332 |
| iShares Core U.S. Aggregate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278234 |
| Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3056631 |
| Total Fixed Income Funds<br> (Cost $21,679,853) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22457940 |
| Total Investment Companies<br> (Cost $116,361,322) |  | &nbsp;&nbsp;&nbsp;&nbsp;143078007 |
| **Short-Term Investments 6.1%** | **Short-Term Investments 6.1%** | **Short-Term Investments 6.1%** |
| **Affiliated Investment Company 5.3%** | **Affiliated Investment Company 5.3%** | **Affiliated Investment Company 5.3%** |
| NYLI U.S. Government Liquidity Fund, 4.215% (b) | &nbsp;&nbsp;&nbsp;&nbsp;8030793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030793 |
| **Unaffiliated Investment Company 0.8%** | **Unaffiliated Investment Company 0.8%** | **Unaffiliated Investment Company 0.8%** |
| Invesco Government & Agency Portfolio, 4.342% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;1279680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1279680 |
| Total Short-Term Investments<br> (Cost $9,310,473) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310473 |
| Total Investments<br> (Cost $125,671,795) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.9% | &nbsp;&nbsp;&nbsp;&nbsp;152388480 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1429955) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$150958525 |

---

------

---

| | |
|:---|:---|
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of July 31, 2025, the aggregate market value of securities on loan was $4,895,648; the total market value of collateral held by the Fund was $5,404,721. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $4,125,041. The Fund received cash collateral with a value of $1,279,680. |
| (b) | Current yield as of July 31, 2025. |
| (c) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$5886 | &nbsp;&nbsp;$7271 | &nbsp;&nbsp;$(5126) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$8031 | &nbsp;&nbsp;$79 | &nbsp;&nbsp;$— | &nbsp;&nbsp;8031 |

---

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| MSCI—Morgan Stanley Capital International |
| USD—United States Dollar |

---

The following is a summary of the fair valuations according to the inputs used as of July 31, 2025, for valuing the Fund's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $120620067 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $120620067 |
| &nbsp;&nbsp;&nbsp;Fixed Income Funds | &nbsp;&nbsp;&nbsp;&nbsp; 22457940 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 22457940 |
| Total Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;143078007 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;143078007 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 8030793 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 8030793 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 1279680 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1279680 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310473 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310473 |
| Total Investments in Securities | &nbsp;&nbsp;$152388480 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$152388480 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI Equity ETF Allocation Fund<br>

## Portfolio of Investments July 31, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Investment Companies 99.7%** | **Investment Companies 99.7%** | **Investment Companies 99.7%** |
| **Equity Funds 99.7%** | **Equity Funds 99.7%** | **Equity Funds 99.7%** |
| Invesco S&P SmallCap Quality ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;146022 | &nbsp;&nbsp;$6017567 |
| iShares Core MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;259085 | &nbsp;&nbsp;&nbsp;&nbsp; 21211289 |
| iShares Core MSCI Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp; 98044 | &nbsp;&nbsp;&nbsp;&nbsp; 5914995 |
| iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp; 10476 | &nbsp;&nbsp;&nbsp;&nbsp; 6651212 |
| iShares Core S&P Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 58205 | &nbsp;&nbsp;&nbsp;&nbsp; 3668661 |
| iShares Core S&P Small-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 30699 | &nbsp;&nbsp;&nbsp;&nbsp; 3385486 |
| iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;&nbsp;&nbsp; 37905 | &nbsp;&nbsp;&nbsp;&nbsp; 2381192 |
| Schwab U.S. Mid-Cap ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 70122 | &nbsp;&nbsp;&nbsp;&nbsp; 2004087 |
| Schwab U.S. Small-Cap ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;327579 | &nbsp;&nbsp;&nbsp;&nbsp; 8435159 |
| Vanguard Mega Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;204971 | &nbsp;&nbsp;&nbsp;&nbsp; 47196622 |
| Vanguard Mid-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp; 43065 | &nbsp;&nbsp;&nbsp;&nbsp; 12316159 |
| Total Investment Companies<br> (Cost $94,502,270) |  | &nbsp;&nbsp;&nbsp;&nbsp;119182429 |
| **Short-Term Investments 0.4%** | **Short-Term Investments 0.4%** | **Short-Term Investments 0.4%** |
| **Affiliated Investment Company 0.3%** | **Affiliated Investment Company 0.3%** | **Affiliated Investment Company 0.3%** |
| NYLI U.S. Government Liquidity Fund, 4.215% (b) | &nbsp;&nbsp;&nbsp;&nbsp;356828 | &nbsp;&nbsp;&nbsp;&nbsp; 356828 |
| **Unaffiliated Investment Company 0.1%** | **Unaffiliated Investment Company 0.1%** | **Unaffiliated Investment Company 0.1%** |
| Invesco Government & Agency Portfolio, 4.342% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89250 |
| Total Short-Term Investments<br> (Cost $446,078) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446078 |
| Total Investments<br> (Cost $94,948,348) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.1% | &nbsp;&nbsp;&nbsp;&nbsp;119628507 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65120) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$119563387 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of July 31, 2025, the aggregate market value of securities on loan was $1,773,421; the total market value of collateral held by the Fund was $2,018,604. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,929,354. The Fund received cash collateral with a value of $89,250. |
| (b) | Current yield as of July 31, 2025. |
| (c) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$567 | &nbsp;&nbsp;$3454 | &nbsp;&nbsp;$(3664) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$357 | &nbsp;&nbsp;$6 | &nbsp;&nbsp;$— | &nbsp;&nbsp;357 |

---

------

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| MSCI—Morgan Stanley Capital International |

---

The following is a summary of the fair valuations according to the inputs used as of July 31, 2025, for valuing the Fund's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $119182429 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $119182429 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 356828 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 356828 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 89250 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 89250 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446078 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446078 |
| Total Investments in Securities | &nbsp;&nbsp;$119628507 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$119628507 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI CBRE Global Infrastructure Fund<br>

## Portfolio of Investments July 31, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 93.5%** | **Common Stocks 93.5%** | **Common Stocks 93.5%** |
| **Belgium 0.6%** | **Belgium 0.6%** | **Belgium 0.6%** |
| Elia Group SA/NV (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 58440 | &nbsp;&nbsp;$6695324 |
| **Canada 7.1%** | **Canada 7.1%** | **Canada 7.1%** |
| Canadian Pacific Kansas City Ltd. (Transportation) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 307226 | &nbsp;&nbsp;&nbsp;&nbsp; 22594060 |
| Pembina Pipeline Corp. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp; 789501 | &nbsp;&nbsp;&nbsp;&nbsp; 29344184 |
| TC Energy Corp. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp; 580663 | &nbsp;&nbsp;&nbsp;&nbsp; 27725653 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79663897 |
| **France 4.0%** | **France 4.0%** | **France 4.0%** |
| Vinci SA (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 320792 | &nbsp;&nbsp;&nbsp;&nbsp; 44429340 |
| **Germany 2.0%** | **Germany 2.0%** | **Germany 2.0%** |
| E.ON SE (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 1194003 | &nbsp;&nbsp;&nbsp;&nbsp; 21749310 |
| **Italy 0.8%** | **Italy 0.8%** | **Italy 0.8%** |
| Infrastrutture Wireless Italiane SpA (Communications) | &nbsp;&nbsp;&nbsp;&nbsp; 769708 | &nbsp;&nbsp;&nbsp;&nbsp; 9091365 |
| **Japan 2.7%** | **Japan 2.7%** | **Japan 2.7%** |
| East Japan Railway Co. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 240600 | &nbsp;&nbsp;&nbsp;&nbsp; 5120899 |
| West Japan Railway Co. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 1154026 | &nbsp;&nbsp;&nbsp;&nbsp; 25309603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30430502 |
| **Mexico 3.5%** | **Mexico 3.5%** | **Mexico 3.5%** |
| Grupo Aeroportuario del Centro Norte SAB de CV, Class B (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10808782 |
| Grupo Aeroportuario del Pacifico SAB de CV, Class B (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23535156 |
| Grupo Aeroportuario del Sureste SAB de CV, Class B (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5120461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39464399 |
| **New Zealand 0.7%** | **New Zealand 0.7%** | **New Zealand 0.7%** |
| Auckland International Airport Ltd. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7975094 |
| **Spain 8.1%** | **Spain 8.1%** | **Spain 8.1%** |
| Aena SME SA (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36966709 |
| Cellnex Telecom SA (Communications) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12711919 |
| Ferrovial SE (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40331011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90009639 |
| **Switzerland 1.3%** | **Switzerland 1.3%** | **Switzerland 1.3%** |
| Flughafen Zurich AG (Registered) (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14083987 |
| **United Kingdom 4.7%** | **United Kingdom 4.7%** | **United Kingdom 4.7%** |
| National Grid plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15534110 |
| Pennon Group plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13875939 |
| Severn Trent plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18191106 |
| SSE plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5247839 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52848994 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **United States 58.0%** | **United States 58.0%** | **United States 58.0%** |
| AES Corp. (The) (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 1933417 | &nbsp;&nbsp;$25424433 |
| American Tower Corp. (Communications) | &nbsp;&nbsp;&nbsp;&nbsp; 111107 | &nbsp;&nbsp;&nbsp;&nbsp; 23153588 |
| Atmos Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 275089 | &nbsp;&nbsp;&nbsp;&nbsp; 42891877 |
| California Water Service Group (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 203370 | &nbsp;&nbsp;&nbsp;&nbsp; 9247234 |
| Cheniere Energy, Inc. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp; 146063 | &nbsp;&nbsp;&nbsp;&nbsp; 34453340 |
| CMS Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 377406 | &nbsp;&nbsp;&nbsp;&nbsp; 27852563 |
| Constellation Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 61691 | &nbsp;&nbsp;&nbsp;&nbsp; 21458597 |
| Entergy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 372022 | &nbsp;&nbsp;&nbsp;&nbsp; 33641949 |
| Equinix, Inc. (Communications) | &nbsp;&nbsp;&nbsp;&nbsp; 33022 | &nbsp;&nbsp;&nbsp;&nbsp; 25927884 |
| Essential Utilities, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 716517 | &nbsp;&nbsp;&nbsp;&nbsp; 26367826 |
| Evergy, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 162365 | &nbsp;&nbsp;&nbsp;&nbsp; 11495442 |
| NextEra Energy, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 475882 | &nbsp;&nbsp;&nbsp;&nbsp; 33816175 |
| Norfolk Southern Corp. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 151416 | &nbsp;&nbsp;&nbsp;&nbsp; 42093648 |
| OGE Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 241356 | &nbsp;&nbsp;&nbsp;&nbsp; 10962389 |
| ONEOK, Inc. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp; 35608 | &nbsp;&nbsp;&nbsp;&nbsp; 2923773 |
| PG&E Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 1728340 | &nbsp;&nbsp;&nbsp;&nbsp; 24231327 |
| PPL Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43507752 |
| Public Service Enterprise Group, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42802713 |
| Southern Co. (The) (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10684649 |
| Targa Resources Corp. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28978804 |
| Union Pacific Corp. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12765939 |
| WEC Energy Group, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46382561 |
| Williams Cos., Inc. (The) (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30997867 |
| Xcel Energy, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34787647 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646849977 |
| Total Common Stocks<br> (Cost $968,415,554) |  | &nbsp;&nbsp;&nbsp;&nbsp;1043291828 |
| **Short-Term Investments 5.9%** | **Short-Term Investments 5.9%** | **Short-Term Investments 5.9%** |
| **Affiliated Investment Company 4.1%** | **Affiliated Investment Company 4.1%** | **Affiliated Investment Company 4.1%** |
| **United States 4.1%** | **United States 4.1%** | **United States 4.1%** |
| NYLI U.S. Government Liquidity Fund, 4.215% (b) | &nbsp;&nbsp;&nbsp;&nbsp;45349618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45349618 |
| **Unaffiliated Investment Company 1.8%** | **Unaffiliated Investment Company 1.8%** | **Unaffiliated Investment Company 1.8%** |
| **United States 1.8%** | **United States 1.8%** | **United States 1.8%** |
| Invesco Government & Agency Portfolio, 4.342% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;20584990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20584990 |
| Total Short-Term Investments<br> (Cost $65,934,608) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65934608 |
| Total Investments<br> (Cost $1,034,350,162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.4% | &nbsp;&nbsp;&nbsp;&nbsp;1109226436 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7058154 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1116284590 |

---

------

---

| | |
|:---|:---|
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry and country classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of July 31, 2025, the aggregate market value of securities on loan was $18,982,626. The Fund received cash collateral with a value of $20,584,990. |
| (b) | Current yield as of July 31, 2025. |
| (c) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$16299 | &nbsp;&nbsp;$157690 | &nbsp;&nbsp;$(128639) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$45350 | &nbsp;&nbsp;$131 | &nbsp;&nbsp;$— | &nbsp;&nbsp;45350 |

---

The following is a summary of the fair valuations according to the inputs used as of July 31, 2025, for valuing the Fund's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $6695324 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $6695324 |
| &nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44429340 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 44429340 |
| &nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21749310 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 21749310 |
| &nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9091365 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 9091365 |
| &nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30430502 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 30430502 |
| &nbsp;&nbsp;&nbsp;New Zealand | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7975094 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 7975094 |
| &nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 90009639 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 90009639 |
| &nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14083987 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 14083987 |
| &nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52848994 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 52848994 |
| &nbsp;&nbsp;&nbsp;All Other Countries | &nbsp;&nbsp;&nbsp;&nbsp; 765978273 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 765978273 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;765978273 | &nbsp;&nbsp;&nbsp;&nbsp;277313555 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1043291828 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 45349618 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 45349618 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 20584990 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 20584990 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65934608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65934608 |
| Total Investments in Securities | &nbsp;&nbsp;$831912881 | &nbsp;&nbsp;$277313555 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1109226436 |

---

(a) For a complete listing of investments and their industries, see the Portfolio of Investments.

------

## NYLI CBRE Real Estate Fund<br>

## Portfolio of Investments July 31, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 99.5%** | **Common Stocks 99.5%** | **Common Stocks 99.5%** |
| **Community Shopping Centers 6.4%** | **Community Shopping Centers 6.4%** | **Community Shopping Centers 6.4%** |
| Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 279040 | &nbsp;&nbsp;$7291315 |
| Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp; 154900 | &nbsp;&nbsp;&nbsp;&nbsp; 3404702 |
| Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 51685 | &nbsp;&nbsp;&nbsp;&nbsp; 3690309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14386326 |
| **Enclosed Mall 5.5%** | **Enclosed Mall 5.5%** | **Enclosed Mall 5.5%** |
| Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 75671 | &nbsp;&nbsp;&nbsp;&nbsp; 12394153 |
| **Healthcare Facilities 16.6%** | **Healthcare Facilities 16.6%** | **Healthcare Facilities 16.6%** |
| American Healthcare REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 88403 | &nbsp;&nbsp;&nbsp;&nbsp; 3415892 |
| Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 250912 | &nbsp;&nbsp;&nbsp;&nbsp; 4250449 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47617 | &nbsp;&nbsp;&nbsp;&nbsp; 1852302 |
| Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 82621 | &nbsp;&nbsp;&nbsp;&nbsp; 5550479 |
| Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 134747 | &nbsp;&nbsp;&nbsp;&nbsp; 22242687 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37311809 |
| **Hotels 1.7%** | **Hotels 1.7%** | **Hotels 1.7%** |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21518 | &nbsp;&nbsp;&nbsp;&nbsp; 2045501 |
| Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 212687 | &nbsp;&nbsp;&nbsp;&nbsp; 1861011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3906512 |
| **Industrial Properties 8.6%** | **Industrial Properties 8.6%** | **Industrial Properties 8.6%** |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6132111 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5638024 |
| Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7517953 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19288088 |
| **Net Lease Properties 13.8%** | **Net Lease Properties 13.8%** | **Net Lease Properties 13.8%** |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3379634 |
| Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060689 |
| Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5553512 |
| NETSTREIT Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1994435 |
| Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4295741 |
| STAG Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4128182 |
| VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10586002 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30998195 |
| **Office Buildings 3.9%** | **Office Buildings 3.9%** | **Office Buildings 3.9%** |
| COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979137 |
| Cousins Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677832 |
| Vornado Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4192160 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8849129 |
| **Residential 10.7%** | **Residential 10.7%** | **Residential 10.7%** |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2785087 |
| Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2878403 |
| Elme Communities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1822840 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769805 |
| Invitation Homes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457342 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Residential** | **Residential** | **Residential** |
| UDR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 181211 | &nbsp;&nbsp;$7119780 |
| Veris Residential, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 88803 | &nbsp;&nbsp;&nbsp;&nbsp; 1250346 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24083603 |
| **Self Storage Property 5.4%** | **Self Storage Property 5.4%** | **Self Storage Property 5.4%** |
| CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp; 107917 | &nbsp;&nbsp;&nbsp;&nbsp; 4199050 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 50667 | &nbsp;&nbsp;&nbsp;&nbsp; 6807618 |
| Smartstop Self Storage REIT, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 36628 | &nbsp;&nbsp;&nbsp;&nbsp; 1240957 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12247625 |
| **Technology Datacenters 11.5%** | **Technology Datacenters 11.5%** | **Technology Datacenters 11.5%** |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47874 | &nbsp;&nbsp;&nbsp;&nbsp; 8446889 |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22259 | &nbsp;&nbsp;&nbsp;&nbsp; 17477099 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25923988 |
| **Technology Towers 12.6%** | **Technology Towers 12.6%** | **Technology Towers 12.6%** |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 100298 | &nbsp;&nbsp;&nbsp;&nbsp; 20901100 |
| SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 33150 | &nbsp;&nbsp;&nbsp;&nbsp; 7449468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28350568 |
| **Timber 2.8%** | **Timber 2.8%** | **Timber 2.8%** |
| Weyerhaeuser Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6412976 |
| Total Common Stocks<br> (Cost $206,823,083) |  | &nbsp;&nbsp;&nbsp;&nbsp;224152972 |
| **Short-Term Investments 1.5%** | **Short-Term Investments 1.5%** | **Short-Term Investments 1.5%** |
| **Affiliated Investment Company 0.5%** | **Affiliated Investment Company 0.5%** | **Affiliated Investment Company 0.5%** |
| NYLI U.S. Government Liquidity Fund, 4.215% (b) | &nbsp;&nbsp;&nbsp;&nbsp;1185300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185300 |
| **Unaffiliated Investment Company 1.0%** | **Unaffiliated Investment Company 1.0%** | **Unaffiliated Investment Company 1.0%** |
| Invesco Government & Agency Portfolio, 4.342% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;2254730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2254730 |
| Total Short-Term Investments<br> (Cost $3,440,030) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440030 |
| Total Investments<br> (Cost $210,263,113) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101.0% | &nbsp;&nbsp;&nbsp;&nbsp;227593002 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2242714) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$225350288 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Fund net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of July 31, 2025, the aggregate market value of securities on loan was $2,135,148. The Fund received cash collateral with a value of $2,254,730. |
| (b) | Current yield as of July 31, 2025. |
| (c) | Represents a security purchased with cash collateral received for securities on loan. |

---

------

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$114 | &nbsp;&nbsp;$7425 | &nbsp;&nbsp;$(6354) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1185 | &nbsp;&nbsp;$10 | &nbsp;&nbsp;$— | &nbsp;&nbsp;1185 |

---

Abbreviation(s): <br> REIT—Real Estate Investment Trust

The following is a summary of the fair valuations according to the inputs used as of July 31, 2025, for valuing the Fund's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $224152972 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $224152972 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 1185300 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1185300 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 2254730 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2254730 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440030 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440030 |
| Total Investments in Securities | &nbsp;&nbsp;$227593002 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$227593002 |

---

(a) For a complete listing of investments and their industries, see the Portfolio of Investments.

------

## New York Life Investments Funds Trust

## Notes to Portfolios of Investments July 31, 2025 (Unaudited)

#### Securities Valuation.
Investments are usually valued as of the close of regular trading on the New York Stock Exchange (the "Exchange") (usually 4:00 p.m. Eastern time) on each day the Funds are open for business ("valuation date").

Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees of the New York Life Investments Funds Trust (the "Board") has designated New York Life Investment Management LLC ("New York Life Investments" or the "Manager") as its Valuation Designee (the "Valuation Designee"). The Valuation Designee is responsible for performing fair valuations relating to all investments in the Fund's portfolio for which market quotations are not readily available; periodically assessing and managing material valuation risks; establishing and applying fair value methodologies; testing fair valuation methodologies; evaluating and overseeing pricing services; ensuring appropriate segregation of valuation and portfolio management functions; providing quarterly, annual and prompt reporting to the Board, as appropriate; identifying potential conflicts of interest; and maintaining appropriate records. The Valuation Designee has established a valuation committee ("Valuation Committee") to assist in carrying out the Valuation Designee's responsibilities and establish prices of securities for which market quotations are not readily available. The Fund's and the Valuation Designee's policies and procedures ("Valuation Procedures") govern the Valuation Designee's selection and application of methodologies for determining and calculating the fair value of Fund investments. The Valuation Designee may value the Fund's portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services and other third-party sources. The Valuation Committee meets (in person, via electronic mail or via teleconference) on an ad-hoc basis to determine fair valuations and on a quarterly basis to review fair value events with respect to certain securities for which market quotations are not readily available, including valuation risks and back-testing results, and to preview reports to the Board.

The Valuation Committee establishes prices of securities for which market quotations are not readily available based on such methodologies and measurements on a regular basis after considering information that is reasonably available and deemed relevant by the Valuation Committee. The Board shall oversee the Valuation Designee and review fair valuation materials on a prompt, quarterly and annual basis and approve proposed revisions to the Valuation Procedures.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to the Valuation Procedures. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that each Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. "Fair value" is defined as the price the Fund would reasonably expect to receive upon selling an asset or liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the asset or liability. Fair value measurements are determined within a framework that establishes a three-tier hierarchy that maximizes the use of observable market data and minimizes the use of unobservable inputs to establish a classification of fair value measurements for disclosure purposes. "Inputs" refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, such as the risk inherent in a particular valuation technique used to measure fair value using a pricing model and/or the risk inherent in the inputs for the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of each Fund. Unobservable inputs reflect each Fund's own assumptions about the assumptions market participants would use in pricing the asset or liability based on the information available. The inputs or methodology used for valuing assets or liabilities may not be an indication of the risks associated with investing in those assets or liabilities. The three-tier hierarchy of inputs is summarized below.

• Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability

• Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.)

• Level 3—significant unobservable inputs (including each Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability)

The level of an asset or liability within the fair value hierarchy is based on the lowest level of an input, both individually and in the aggregate, that is significant to the fair value measurement. The aggregate value by input level of each Fund's assets and liabilities as of July 31, 2025, is included at the end of each Fund's respective Portfolio of Investments.

The Funds may use third-party vendor evaluations, whose prices may be derived from one or more of the following standard inputs, among others:

------

---

| | |
|:---|:---|
| • Broker/dealer quotes | &nbsp;&nbsp;• Benchmark securities |
| • Two-sided markets | &nbsp;&nbsp;• Reference data (corporate actions or material event notices) |
| • Bids/offers | &nbsp;&nbsp;• Monthly payment information |
| • Industry and economic events | &nbsp;&nbsp;• Reported trades |

---

An asset or liability for which a market quotation is not readily available is valued by methods deemed reasonable in good faith by the Valuation Committee, following the Valuation Procedures to represent fair value. Under these procedures, the Valuation Designee generally uses a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information. The Valuation Designee may also use an income-based valuation approach in which the anticipated future cash flows of the asset or liability are discounted to calculate fair value. Fair value represents a good faith approximation of the value of a security. Fair value determinations involve the consideration of a number of subjective factors, an analysis of applicable facts and circumstances and the exercise of judgment. As a result, it is possible that the fair value for a security determined in good faith in accordance with the Valuation Procedures may differ from valuations for the same security determined for other funds using their own valuation procedures. Although the Valuation Procedures are designed to value a security at the price a Fund may reasonably expect to receive upon the security's sale on the valuation date in an orderly transaction, there can be no assurance that any fair value determination thereunder would, in fact, approximate the amount that a Fund would actually realize upon the sale of the security or the price at which the security would trade if a reliable market price were readily available. During the period ended July 31, 2025, there were no material changes to the fair value methodologies.

Securities which may be valued in this manner include, but are not limited to: (i) a security for which trading has been halted or suspended or otherwise does not have a readily available market quotation on a given day; (ii) a debt security that has recently gone into default and for which there is not a current market quotation; (iii) a security of an issuer that has entered into a restructuring; (iv) a security that has been delisted from a national exchange; (v) a security subject to trading collars for which no or limited trading takes place; and (vi) a security whose principal market has been temporarily closed at a time when, under normal conditions, it would be open. Securities valued in this manner are generally categorized as Level 2 or 3 in the hierarchy.

Certain securities held by certain Funds may principally trade in foreign markets. Events may occur between the time the foreign markets close and the time at which each of the Fund's net asset values ("NAVs") are calculated. These events may include, but are not limited to, situations relating to a single issuer in a market sector, significant fluctuations in U.S. or foreign markets, natural disasters, armed conflicts, governmental actions or other developments not tied directly to the securities markets. Should the Valuation Designee conclude that such events may have affected the accuracy of the last price of such securities reported on the local foreign market, the Valuation Designee may, pursuant to the Valuation Procedures, adjust the value of the local price to reflect the estimated impact on the price of such securities as a result of such events. In this instance, securities are generally categorized as Level 3 in the hierarchy. Additionally, certain foreign equity securities are also fair valued whenever the movement of a particular index exceeds certain thresholds. In such cases, the securities are fair valued by applying factors provided by a third-party vendor in accordance with the Valuation Procedures and are generally categorized as Level 2 in the hierarchy.

If the principal market of certain foreign equity securities is closed in observance of a local foreign holiday, these securities are valued using the last closing price of regular trading on the relevant exchange and fair valued by applying factors provided by a third-party vendor in accordance with the Valuation Procedures. These securities are generally categorized as Level 2 in the hierarchy.

Equity securities, rights and warrants, if applicable, are valued at the last quoted sales prices as of the close of regular trading on the relevant exchange on each valuation date. Securities that are not traded on the valuation date are valued at the mean of the last quoted bid and ask prices. Prices are normally taken from the principal market in which each security trades. These securities are generally categorized as Level 1 in the hierarchy.

Exchange-traded funds ("ETFs") are valued at the last quoted sales prices as of the close of regular trading on the relevant exchange on each valuation date. Securities that are not traded on the valuation date are valued at the mean of the last quoted bid and ask prices. Prices are normally taken from the principal market in which each security trades. These securities are generally categorized as Level 1 in the hierarchy.

Investments in mutual funds, including money market funds, are valued at their respective NAVs at the close of business each day on the valuation date. These securities are generally categorized as Level 1 in the hierarchy.

Temporary cash investments acquired in excess of 60 days to maturity at the time of purchase are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities and ratings), both as furnished by independent pricing services. Temporary cash investments that mature in 60 days or less at the time of purchase ("Short-Term Investments") are valued using the amortized cost method of valuation, unless the use of such method would be inappropriate. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between such cost and the principal on maturity date.

------

Amortized cost approximates the current fair value of a security. Securities valued using the amortized cost method are not valued using quoted prices in an active market and are generally categorized as Level 2 in the hierarchy.

The information above is not intended to reflect an exhaustive list of the methodologies that may be used to value portfolio investments. The Valuation Procedures permit the use of a variety of valuation methodologies in connection with valuing portfolio investments. The methodology used for a specific type of investment may vary based on the market data available or other considerations. The methodologies summarized above may not represent the specific means by which portfolio investments are valued on any particular business day.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** NEW YORK LIFE INVESTMENTS FUNDS TRUST

- **b. Investment Company Act file number:** 811-22321

- **c. CIK number of Registrant:** 0001469192

- **d. LEI of Registrant:** 549300SQRLBSUG7RD002

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 212-576-7000

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

- **a. Name of Series:** NYLI CBRE Real Estate Fund

- **b. EDGAR series identifier (if any):** S000067319

- **c. LEI of Series:** 549300YLI7OLZQMGC155

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $227964482.80

**Total Liabilities:** $2578494.45

**Net Assets:** $225385988.35

**Cash Not Reported:** $718893.86

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000216492 | 0.99%                | -0.52%               | -1.24%               |
| Class ID C000216488 | 0.99%                | -0.55%               | -1.24%               |
| Class ID C000216487 | 1.04%                | -0.64%               | -1.34%               |
| Class ID C000216489 | 1.06%                | -0.53%               | -1.25%               |
| Class ID C000216491 | 1.06%                | -0.50%               | -1.25%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3347164.36              | $-1056094.89                               |
| Month 2  | $2953550.92              | $-5320340.09                               |
| Month 3  | $4686599.18              | $-7978513.13                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COPT Defense Properties                 | COPT Defense Properties                                 | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     72549 | NS      | $1979136.72   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                               | CubeSmart                                               | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107917 | NS      | $4199050.47   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.                | SBA Communications Corp.                                | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     33150 | NS      | $7449468.00   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities                        | Elme Communities                                        | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               | CORP              | US        |    120878 | NS      | $1822840.24   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust, Inc.              | Digital Realty Trust, Inc.                              | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     47874 | NS      | $8446888.56   | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                   | Camden Property Trust                                   | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     26359 | NS      | $2878402.80   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                   | American Homes 4 Rent, Class A                          | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     80285 | NS      | $2785086.65   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties, Inc.              | EastGroup Properties, Inc.                              | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     37565 | NS      | $6132110.60   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group, Inc.              | Simon Property Group, Inc.                              | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     75671 | NS      | $12394153.09  | 5.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust, Inc. | Essential Properties Realty Trust, Inc.                 | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |    110844 | NS      | $3379633.56   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors, Inc.        | Omega Healthcare Investors, Inc.                        | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     47617 | NS      | $1852301.30   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR, Inc.                               | UDR, Inc.                                               | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |    181211 | NS      | $7119780.19   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co.                        | Weyerhaeuser Co.                                        | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    256007 | NS      | $6412975.35   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp.                   | Regency Centers Corp.                                   | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     51685 | NS      | $3690309.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas, Inc.                            | Ventas, Inc.                                            | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     82621 | NS      | $5550478.78   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties, Inc.                | Cousins Properties, Inc.                                | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     98813 | NS      | $2677832.30   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp.                     | Realty Income Corp.                                     | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     76532 | NS      | $4295741.16   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartstop Self Storage REIT, Inc.       | Smartstop Self Storage REIT, Inc.                       | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |     36628 | NS      | $1240956.64   | 0.55%             |  |  |  | No            |                  1 | On Loan: —       |
| Invitation Homes, Inc.                  | Invitation Homes, Inc.                                  | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    210680 | NS      | $6457342.00   | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors, Inc.          | Sunstone Hotel Investors, Inc.                          | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    212687 | NS      | $1861011.25   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NYLI U.S. Government Liquidity Fund     | NYLI U.S. Government Liquidity Fund                     | CUSIP: 56064L488<br>LEI: 549300Y3ZLEL13IJCK58 | Long             | STIV             | RF                | US        |    719954 | NS      | $719954.44    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust, Inc.     | First Industrial Realty Trust, Inc.                     | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115723 | NS      | $5638024.56   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp.                         | NETSTREIT Corp.                                         | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |    109404 | NS      | $1994434.92   | 0.88%             |  |  |  | No            |                  1 | On Loan: —       |
| Independence Realty Trust, Inc.         | Independence Realty Trust, Inc.                         | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    105534 | NS      | $1769805.18   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower, Inc.                         | Welltower, Inc.                                         | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |    134747 | NS      | $22242687.29  | 9.87%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties, Inc.                   | VICI Properties, Inc.                                   | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    324724 | NS      | $10586002.40  | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVT AND AGCY LEX               | INVESCO GOVERNMENT & AGENCY PORTFOLIO OPEN-END FUND USD | CUSIP: 825252885<br>LEI: O37NHJVF7S22I1ONOU83 | Long             | STIV             | RF                | US        |   2254730 | NS      | $2254730.40   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                 | Kite Realty Group Trust                                 | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    154900 | NS      | $3404702.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis, Inc.                          | Prologis, Inc.                                          | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     70406 | NS      | $7517952.68   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties, Inc.      | Ryman Hospitality Properties, Inc.                      | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     21518 | NS      | $2045501.08   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                    | Vornado Realty Trust                                    | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109114 | NS      | $4192159.88   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp.                      | Getty Realty Corp.                                      | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     38168 | NS      | $1060688.72   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential, Inc.                 | Veris Residential, Inc.                                 | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               | CORP              | US        |     88803 | NS      | $1250346.24   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                   | STAG Industrial, Inc.                                   | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |    120250 | NS      | $4128182.50   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT, Inc.          | American Healthcare REIT, Inc.                          | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     88403 | NS      | $3415891.92   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties, Inc.             | Healthpeak Properties, Inc.                             | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    250912 | NS      | $4250449.28   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp.                    | American Tower Corp.                                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |    100298 | NS      | $20901100.22  | 9.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group, Inc.            | Brixmor Property Group, Inc.                            | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    279040 | NS      | $7291315.20   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain, Inc.                     | Iron Mountain, Inc.                                     | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     57041 | NS      | $5553511.76   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage, Inc.               | Extra Space Storage, Inc.                               | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50667 | NS      | $6807618.12   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                           | Equinix, Inc.                                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     22259 | NS      | $17477099.03  | 7.75%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** NEW YORK LIFE INVESTMENTS FUNDS TRUST

**Signature:** Jack Benintende

**Name of Signer:** Jack Benintende

**Title:** Treasurer