# EDGAR Filing Document

**Accession Number:** 0001075065
**File Stem:** 0001410368-26-051126
**Filing Date:** 2026-5
**Character Count:** 538815
**Document Hash:** a8bb87e076d4f6852e99618c3bcc7d9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-051126.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0001410368-26-051126

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SA FUNDS INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0001075065

**ORGANIZATION NAME:**
- **EIN:** 770216379
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09195
- **FILM NUMBER:** 261016692

**BUSINESS ADDRESS:**
- **STREET 1:** 10 ALMADEN BLVD, 15TH FLOOR
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95113
- **BUSINESS PHONE:** (800) 366-7266

**MAIL ADDRESS:**
- **STREET 1:** 10 ALMADEN BLVD, 15TH FLOOR
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95113

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RWB FUNDS INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19981211

## Series and Classes Contracts Data

### SA U.S. Value Fund (Series ID: S000008778)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000023893 | SA U.S. Value Fund |  |

## Nport-Ex

**SA U.S. Fixed Income Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **VALUE†** |
| **YANKEE CORPORATE BONDS AND NOTES — 13.8%** | **YANKEE CORPORATE BONDS AND NOTES — 13.8%** | **YANKEE CORPORATE BONDS AND NOTES — 13.8%** |
| ***Consumer, Cyclical — 0.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;BMW U.S. Capital LLC, 3.700%, 4/01/32 ± | $1000000 | $934206 |
| &nbsp;&nbsp;&nbsp;Magna International, Inc., 5.500%, 3/21/33 | 400000 | 410543 |
|  |  | 1344749 |
| ***Consumer, Non-cyclical — 0.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Ashtead Capital, Inc., 5.550%, 5/30/33 ± | 1480000 | 1495237 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp., 6.000%, 2/20/34 | 1500000 | 1585574 |
|  |  | 3080811 |
| ***Financial — 7.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd., SOFR + 0.680%, 4.330%, 12/08/30 ±‡ | 4000000 | 4010481 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia (The), 5.650%, 2/01/34 | 300000 | 312285 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia, SOFR + 0.810%, 4.458%, 3/14/30 ±‡ | 2000000 | 2015843 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA, SOFR + 0.710%, 4.361%, 3/05/27 ‡ | 9500000 | 9528505 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA, SOFR + 0.870%, 4.519%, 3/11/27 ±‡ | 572000 | 573425 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA, 5.514%, 7/05/33 ± | 400000 | 412958 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc., 3.195%, 7/18/29 | 2000000 | 1918026 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp, SOFR + 1.020%, 4.670%, 9/10/29 ±‡ | 3000000 | 3041528 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada, 5.000%, 2/01/33 | 1000000 | 1008639 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc., 5.766%, 1/13/33 | 1000000 | 1042179 |
| &nbsp;&nbsp;&nbsp;Swedbank AB, SOFR + 1.030%, 4.687%, 11/20/29 ±‡ | 2000000 | 2020262 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp., SOFR + 0.420%, 4.087%, 4/16/26 ‡ | 2300000 | 2300244 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp., SOFR + 0.820%, 4.466%, 7/01/30 ‡ | 4000000 | 4030192 |
|  |  | 32214567 |
| ***Government — 5.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development, SOFR + 0.420%, 4.087%, 7/22/30 ‡ | 2500000 | 2503998 |
| &nbsp;&nbsp;&nbsp;European Investment Bank, SOFR + 0.320%, 3.980%, 8/14/29 ‡ | 7500000 | 7507201 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank, SOFR + 0.370%, 4.035%, 8/01/29 ‡ | 4000000 | 4013780 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Kommunalbanken AS, SOFR + 0.400%, 4.055%, 3/03/28 ±‡ | $| 5000000 | $| 5016512 |
| &nbsp;&nbsp;&nbsp;Province of Ontario Canada, 4.200%, 1/18/29 |  | 3000000 |  | 3023603 |
| &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB, SOFR + 1.000%, 4.664%, 5/05/27 ‡ |  | 2500000 |  | 2520824 |
| &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB, SOFR + 1.000%, 4.665%, 8/03/26 ‡ |  | 1600000 |  | 1604608 |
|  |  |  |  | 26190526 |
| &nbsp;&nbsp;&nbsp;TOTAL YANKEE CORPORATE BONDS AND NOTES<br> (Identified Cost $62,656,222) |  |  |  | 62830653 |
| **CORPORATE BONDS AND NOTES — 54.3%** | **CORPORATE BONDS AND NOTES — 54.3%** | **CORPORATE BONDS AND NOTES — 54.3%** | **CORPORATE BONDS AND NOTES — 54.3%** | **CORPORATE BONDS AND NOTES — 54.3%** |
| ***Basic Materials — 0.9%*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;EIDP, Inc., 4.800%, 5/15/33 |  | 2000000 |  | 1980473 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC, 5.500%, 3/01/34 |  | 2110000 |  | 2099511 |
|  |  |  |  | 4079984 |
| ***Communications — 6.5%*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., 4.100%, 11/15/30 |  | 2000000 |  | 1986682 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc., 3.600%, 4/13/32 |  | 4719000 |  | 4496625 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc., 4.350%, 3/20/33 |  | 8500000 |  | 8353902 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc., 4.800%, 2/26/27 |  | 2000000 |  | 2012556 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc., 4.950%, 2/24/32 |  | 3000000 |  | 3062493 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., 4.250%, 1/15/33 |  | 3500000 |  | 3385755 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc., 3.450%, 3/01/32 |  | 2200000 |  | 1987815 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., 3.850%, 8/15/32 |  | 3000000 |  | 2866183 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc., 4.500%, 8/10/33 |  | 300000 |  | 291203 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc., 4.750%, 1/15/33 |  | 1000000 |  | 987896 |
|  |  |  |  | 29431110 |
| ***Consumer, Cyclical — 3.1%*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp., 4.900%, 1/10/34 |  | 2000000 |  | 1947249 |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp., 5.200%, 3/05/35 |  | 500000 |  | 491060 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp., 1.750%, 4/20/32 |  | 5000000 |  | 4323633 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc., 4.000%, 10/01/29 ± |  | 500000 |  | 486852 |
| &nbsp;&nbsp;&nbsp;LKQ Corp., 6.250%, 6/15/33 |  | 620000 |  | 639278 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc., SOFR + 0.430%, 4.095%, 4/28/27 ‡ |  | 6213000 |  | 6235795 |
|  |  |  |  | 14123867 |
| ***Consumer, Non-cyclical — 8.1%*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cargill, Inc., 4.000%, 6/22/32 ± |  | 1000000 |  | 963266 |
| &nbsp;&nbsp;&nbsp;Cigna Group (The), 5.250%, 2/15/34 |  | 3000000 |  | 3039757 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co., 4.200%, 5/01/30 |  | 500000 |  | 499950 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Fixed Income Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **VALUE†** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
| ***Consumer, Non-cyclical (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc., 4.850%, 11/01/28 | $2000000 | $2002003 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc., 4.100%, 5/15/32 | 151000 | 145056 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co., SOFR + 0.530%, 4.198%, 10/15/28 ‡ | 3500000 | 3506208 |
| &nbsp;&nbsp;&nbsp;Experian Finance PLC, 2.750%, 3/08/30 ± | 1000000 | 934455 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc., SOFR + 0.460%, 4.108%, 9/15/27 ‡ | 1622000 | 1625809 |
| &nbsp;&nbsp;&nbsp;Novartis Capital Corp., 4.100%, 11/05/30 | 3000000 | 2962923 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc., 5.250%, 2/13/34 | 3000000 | 3057887 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. (The), 4.050%, 5/01/30 | 500000 | 498035 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. (The), 4.550%, 1/29/34 | 4000000 | 4014966 |
| &nbsp;&nbsp;&nbsp;Roche Holdings, Inc., SOFR + 0.740%, 4.400%, 11/13/26 ±‡ | 900000 | 901355 |
| &nbsp;&nbsp;&nbsp;Roche Holdings, Inc., 4.909%, 3/08/31 ± | 5400000 | 5515281 |
| &nbsp;&nbsp;&nbsp;Roche Holdings, Inc., 5.593%, 11/13/33 ± | 6000000 | 6342307 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc., 5.150%, 7/15/34 | 1000000 | 1009887 |
|  |  | 37019145 |
| ***Energy — 2.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc., 4.812%, 2/13/33 | 1000000 | 1004428 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc., 4.893%, 9/11/33 | 2500000 | 2514731 |
| &nbsp;&nbsp;&nbsp;Chevron USA, Inc., SOFR + 0.360%, 4.014%, 2/26/27 ‡ | 459000 | 459585 |
| &nbsp;&nbsp;&nbsp;Chevron USA, Inc., SOFR + 0.470%, 4.124%, 2/26/28 ‡ | 6744000 | 6750438 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp., 5.500%, 9/01/32 | 500000 | 501597 |
| &nbsp;&nbsp;&nbsp;Shell Finance U.S., Inc., 4.125%, 11/06/30 | 2000000 | 1981179 |
|  |  | 13211958 |
| ***Financial — 25.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Allstate Corp. (The), 5.250%, 3/30/33 | 400000 | 408763 |
| &nbsp;&nbsp;&nbsp;American Express Co., SOFR + 0.650%, 4.312%, 11/04/26 ‡ | 1500000 | 1502660 |
| &nbsp;&nbsp;&nbsp;American National Group, Inc., 6.144%, 6/13/32 ± | 1100000 | 1125702 |
| &nbsp;&nbsp;&nbsp;Americold Realty Operating Partnership LP, 5.600%, 5/15/32 | 2000000 | 1973509 |

---

---

| | | |
|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc., 5.150%, 5/15/33 | $1000000 | $1018431 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc., 2.650%, 1/15/32 | 2000000 | 1751055 |
| &nbsp;&nbsp;&nbsp;Bank of America NA, SOFR + 1.020%, 4.680%, 8/18/26 ‡ | 2500000 | 2505311 |
| &nbsp;&nbsp;&nbsp;Bank of America NA, 5.526%, 8/18/26 | 5000000 | 5020047 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. (The), 1.050%, 10/15/26 | 1000000 | 983746 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. (The), 2.050%, 1/26/27 | 7000000 | 6885699 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. (The), 2.450%, 8/17/26 | 2000000 | 1988276 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. (The), 2.500%, 1/26/32 | 400000 | 361385 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. (The), SOFR + 0.630%, 4.296%, 1/22/30 ‡ | 3000000 | 2999268 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc., 1.900%, 1/28/31 | 5800000 | 5169643 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc., 4.750%, 5/25/33 | 500000 | 503197 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP, 2.550%, 4/01/32 | 250000 | 214737 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust, 4.900%, 1/15/34 | 1500000 | 1492348 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. (The), 2.900%, 3/03/32 | 1000000 | 905868 |
| &nbsp;&nbsp;&nbsp;Citibank NA, SOFR + 1.060%, 4.712%, 12/04/26 ‡ | 2000000 | 2010139 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp., 5.125%, 2/15/34 | 3000000 | 2956845 |
| &nbsp;&nbsp;&nbsp;EPR Properties, 3.600%, 11/15/31 | 2700000 | 2452279 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP/GLP Financing II, Inc., 5.250%, 2/15/33 | 260000 | 254895 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc., 6.200%, 4/14/34 | 2000000 | 2040864 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase Bank NA, SOFR + 1.000%, 4.649%, 12/08/26 ‡ | 13000000 | 13056406 |
| &nbsp;&nbsp;&nbsp;Kimco Realty OP LLC, 4.850%, 3/01/35 | 500000 | 490370 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp., 5.852%, 3/15/34 | 2800000 | 2857345 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., 2.000%, 11/18/31 | 771000 | 682641 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., 4.350%, 1/15/32 | 7600000 | 7540415 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP, 5.000%, 3/15/34 | 2400000 | 2391097 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank NA, SOFR + 1.165%, 4.830%, 10/30/26 ‡ | 4000000 | 4017471 |
| &nbsp;&nbsp;&nbsp;National Securities Clearing Corp., SOFR + 0.570%, 4.227%, 5/20/27 ±‡ | 1000000 | 1001628 |
| &nbsp;&nbsp;&nbsp;National Securities Clearing Corp., 4.350%, 5/20/27 ± | 3000000 | 3008684 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc., 3.250%, 4/15/33 | 250000 | 220099 |
| &nbsp;&nbsp;&nbsp;Prologis LP, 5.000%, 1/31/35 | 500000 | 499543 |

---

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

**SA U.S. Fixed Income Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **VALUE†** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
| ***Financial (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Public Storage Operating Co., SOFR + 0.700%, 4.367%, 4/16/27 ‡ | $2000000 | $2003431 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp., 2.850%, 12/15/32 | 600000 | 532646 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp., 5.125%, 2/15/34 | 1000000 | 1008058 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP, 5.500%, 3/08/33 | 850000 | 880814 |
| &nbsp;&nbsp;&nbsp;State Street Bank & Trust Co., SOFR + 0.460%, 4.114%, 11/25/26 ‡ | 450000 | 450224 |
| &nbsp;&nbsp;&nbsp;State Street Bank & Trust Co., 4.594%, 11/25/26 | 2000000 | 2007471 |
| &nbsp;&nbsp;&nbsp;State Street Corp., SOFR + 0.640%, 4.306%, 10/22/27 ‡ | 5120000 | 5133560 |
| &nbsp;&nbsp;&nbsp;State Street Corp., SOFR + 0.845%, 4.507%, 8/03/26 ‡ | 4000000 | 4001383 |
| &nbsp;&nbsp;&nbsp;State Street Corp., 4.993%, 3/18/27 | 1000000 | 1006950 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial, 2.875%, 10/28/31 | 2000000 | 1745745 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA, SOFR + 1.060%, 4.721%, 8/07/26 ‡ | 2924000 | 2929651 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA, 5.254%, 12/11/26 | 4500000 | 4531631 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA, 5.450%, 8/07/26 | 5000000 | 5017032 |
|  |  | 113538962 |
| ***Industrial — 0.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., 5.250%, 4/05/34 | 600000 | 613585 |
| &nbsp;&nbsp;&nbsp;Avnet, Inc., 5.500%, 6/01/32 | 3000000 | 3038831 |
|  |  | 3652416 |
| ***Technology — 4.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Accenture Capital, Inc., 4.500%, 10/04/34 | 5000000 | 4841417 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc., 4.550%, 3/10/29 | 2000000 | 1991194 |
| &nbsp;&nbsp;&nbsp;IBM International Capital Pte. Ltd., 4.900%, 2/05/34 | 3000000 | 2963966 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc., 4.650%, 3/15/29 | 3000000 | 3005371 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc., 5.200%, 3/15/33 | 1000000 | 999012 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc., 1.900%, 9/15/31 | 8401000 | 7401658 |
|  |  | 21202618 |
| ***Utilities — 2.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Edison International, 6.950%, 11/15/29 | 500000 | 527682 |
| &nbsp;&nbsp;&nbsp;Georgia Power Co., 5.250%, 3/15/34 | 2600000 | 2657907 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., 5.250%, 3/15/34 | 3000000 | 3039636 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., 5.300%, 3/15/32 | 1000000 | 1023565 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co., 5.000%, 1/15/34 | $| 3000000 | $| 2992696 |
|  |  |  |  | 10241486 |
| &nbsp;&nbsp;&nbsp;TOTAL CORPORATE BONDS AND NOTES<br> (Identified Cost $245,314,341) |  |  |  | 246501546 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 30.7%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 30.7%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 30.7%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 30.7%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 30.7%** |
| ***Sovereign — 0.5%*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp., SOFR + 0.220%, 3.850%, 5/23/28 ‡ |  | 2339000 |  | 2343802 |
| ***U.S. Treasury Securities — 30.2%*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Floating Rate Notes, 3 mo. Treasury Money Market Yield + 0.098%, 3.751%, 1/31/27 ‡ |  | 13000000 |  | 13004901 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Floating Rate Notes, 3 mo. Treasury Money Market Yield + 0.159%, 3.812%, 7/31/27 ‡ |  | 11000000 |  | 11010796 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Floating Rate Notes, 3 mo. Treasury Money Market Yield + 0.160%, 3.813%, 4/30/27 ‡ |  | 23500000 |  | 23525999 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 7/15/26 |  | 2713480 |  | 2752809 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 10/15/26 |  | 21422340 |  | 21609554 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 4/15/27 |  | 23036400 |  | 22909826 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 1/15/30 |  | 2528060 |  | 2420551 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 7/15/30 |  | 2536860 |  | 2415787 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 1/15/31 |  | 1249300 |  | 1175079 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.250%, 7/15/29 |  | 11442510 |  | 11132621 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.375%, 7/15/27 |  | 19277315 |  | 19279468 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 1.125%, 1/15/33 |  | 3056956 |  | 2947749 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 1.750%, 1/15/34 |  | 2750748 |  | 2741724 |
|  |  |  |  | 136926864 |
| &nbsp;&nbsp;&nbsp;TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS<br> (Identified Cost $138,541,470) |  |  |  | 139270666 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | |
| **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** |
| ***Investment Company — 0.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% | 2698692 | 2698692 |
| &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS<br> (Identified Cost $2,698,692) |  | 2698692 |
| **Total Investments — 99.4%<br> (Identified Cost $449,210,725)** |  | **451301557** |
| &nbsp;&nbsp;&nbsp;Cash and Other Assets, Less Liabilities — 0.6% |  | 2945904 |
| **Net Assets — 100.0%** |  | $**454247461** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† See Note 1

---

| | |
|:---|:---|
| ± | 144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at March 31, 2026 amounted to $39,799,982 or 8.76% of the net assets of the Fund. |
| ‡ | Floating rate or variable rate note. Rate shown is as of March 31, 2026. |
| Key to abbreviations: | Key to abbreviations: |
| SOFR — Secured Overnight Financing Rate | SOFR — Secured Overnight Financing Rate |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Global Fixed Income Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** |
| **BONDS AND NOTES — 97.5%** |  |  |  |
| ***Australia — 6.8%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd., (SOFR + 0.620%), 4.267%, 6/18/28 ±‡ | USD | 2000000 | $2006289 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd., (SOFR + 0.650%), 4.297%, 9/30/27 ±‡ | USD | 713000 | 715773 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd., (SOFR + 0.810%), 4.477%, 1/18/27 ±‡ | USD | 1900000 | 1906737 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd., (3-mo. Swap + 1.200%), 5.134%, 11/04/27 ‡ | AUD | 500000 | 348601 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia, (SOFR + 0.460%), 4.114%, 11/27/26 ±‡ | USD | 2750000 | 2754051 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia, (SOFR + 0.640%), 4.288%, 3/14/28 ±‡ | USD | 3360000 | 3373125 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia, (3-mo. Swap + 1.150%), 4.892%, 1/13/28 ‡ | AUD | 1500000 | 1045709 |
| &nbsp;&nbsp;&nbsp;Macquarie Bank Ltd., (SOFR + 0.740%), 4.388%, 6/12/28 ±‡ | USD | 1300000 | 1299339 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd., (SOFR + 0.620%), 4.269%, 6/11/27 ±‡ | USD | 5969000 | 5986356 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd., (SOFR + 0.650%), 4.298%, 6/13/28 ±‡ | USD | 2200000 | 2206612 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd., (SOFR + 0.790%), 4.458%, 1/14/30 ±‡ | USD | 3000000 | 3019494 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd., (3-mo. Swap + 0.780%), 4.736%, 5/12/26 ‡ | AUD | 1500000 | 1035270 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd., (3-mo. Swap + 1.200%), 5.193%, 11/25/27 ‡ | AUD | 500000 | 348601 |
| &nbsp;&nbsp;&nbsp;New South Wales Treasury Corp., 1.750%, 3/20/34 | AUD | 4000000 | 2111330 |
| &nbsp;&nbsp;&nbsp;Queensland Treasury Corp., 1.750%, 7/20/34 | AUD | 4500000 | 2338548 |
| &nbsp;&nbsp;&nbsp;Treasury Corp. of Victoria, 2.250%, 9/15/33 | AUD | 6000000 | 3343802 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp., (SOFR + 0.820%), 4.466%, 7/01/30 ‡ | USD | 300000 | 302264 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp., (SOFR + 0.810%), 4.477%, 4/16/29 ‡ | USD | 2790000 | 2808067 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp., (3-mo. Swap + 0.980%), 4.937%, 2/16/28 ‡ | AUD | 500000 | 347769 |
|  |  |  | 37297737 |
| ***Belgium — 0.7%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Kingdom of Belgium Government Bonds, 2.850%, 10/22/34 | EUR | 2800000 | 3099406 |
| &nbsp;&nbsp;&nbsp;Ministeries Van de Vlaamse Gemeenschap, 2.750%, 10/22/29 | EUR | 400000 | 457930 |
|  |  |  | 3557336 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** |
| **Canada — 19.0%** | **Canada — 19.0%** | **Canada — 19.0%** | **Canada — 19.0%** |
| &nbsp;&nbsp;&nbsp;Canada Housing Trust No. 1, 1.750%, 6/15/30 ± | CAD | 4000000 | $2721211 |
| &nbsp;&nbsp;&nbsp;Canada Housing Trust No. 1, 2.850%, 6/15/30 ± | CAD | 2000000 | 1422016 |
| &nbsp;&nbsp;&nbsp;City of Montreal, 4.250%, 9/01/33 | CAD | 5000000 | 3702789 |
| &nbsp;&nbsp;&nbsp;CPPIB Capital, Inc., 4.300%, 6/02/34 | CAD | 10000000 | 7477176 |
| &nbsp;&nbsp;&nbsp;OMERS Finance Trust, 3.250%, 1/28/35 | EUR | 2000000 | 2273205 |
| &nbsp;&nbsp;&nbsp;Ontario Teachers' Finance Trust, 1.850%, 5/03/32 ± | EUR | 2619000 | 2793283 |
| &nbsp;&nbsp;&nbsp;Province of Alberta Canada, 3.125%, 10/16/34 | EUR | 2500000 | 2832629 |
| &nbsp;&nbsp;&nbsp;Province of Alberta Canada, 4.150%, 6/01/33 | CAD | 12800000 | 9523886 |
| &nbsp;&nbsp;&nbsp;Province of British Columbia Canada, 4.150%, 6/18/34 | CAD | 18300000 | 13510730 |
| &nbsp;&nbsp;&nbsp;Province of Manitoba Canada, 3.800%, 6/02/33 | CAD | 8000000 | 5810607 |
| &nbsp;&nbsp;&nbsp;Province of Manitoba Canada, 4.250%, 6/02/34 | CAD | 11000000 | 8174998 |
| &nbsp;&nbsp;&nbsp;Province of Manitoba Canada, 4.850%, 8/28/34 | AUD | 2000000 | 1299701 |
| &nbsp;&nbsp;&nbsp;Province of Ontario Canada, 3.650%, 6/02/33 | CAD | 12500000 | 9021242 |
| &nbsp;&nbsp;&nbsp;Province of Ontario Canada, 4.150%, 6/02/34 | CAD | 6600000 | 4889024 |
| &nbsp;&nbsp;&nbsp;Province of Ontario Canada, 5.350%, 5/08/34 | AUD | 2000000 | 1367081 |
| &nbsp;&nbsp;&nbsp;Province of Quebec Canada, 0.000%, 10/29/30 # | EUR | 250000 | 251684 |
| &nbsp;&nbsp;&nbsp;Province of Quebec Canada, 3.600%, 9/01/33 | CAD | 6800000 | 4867150 |
| &nbsp;&nbsp;&nbsp;Province of Quebec Canada, 4.450%, 9/01/34 | CAD | 10000000 | 7521487 |
| &nbsp;&nbsp;&nbsp;Province of Saskatchewan Canada, 3.300%, 5/08/34 | EUR | 6600000 | 7595555 |
| &nbsp;&nbsp;&nbsp;Province of Saskatchewan Canada, 3.800%, 6/02/35 | CAD | 2000000 | 1431768 |
| &nbsp;&nbsp;&nbsp;PSP Capital, Inc., 3.250%, 7/02/34 | EUR | 5000000 | 5717204 |
|  |  |  | 104204426 |
| **Denmark — 2.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Novo Nordisk Finance Netherlands BV, 3.375%, 5/21/34 | EUR | 12400000 | 13915790 |
| **Finland — 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Finnvera OYJ, 2.375%, 10/29/30 | EUR | 1700000 | 1916316 |
| &nbsp;&nbsp;&nbsp;Kuntarahoitus OYJ, (SOFR + 1.000%), 4.665%, 2/02/29 ‡ | USD | 7500000 | 7649867 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp, (SOFR + 0.740%), 4.386%, 3/19/27 ±‡ | USD | 5000000 | 5012543 |
|  |  |  | 14578726 |
| **France — 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Caisse des Depots et Consignations, (SOFR + 0.340%), 4.004%, 5/03/26 ‡ | USD | 4800000 | 4797997 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE, 2.625%, 3/07/29 | EUR | 3000000 | 3415632 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE, 3.000%, 3/07/32 | EUR | 2000000 | 2251068 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Global Fixed Income Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** |
| **BONDS AND NOTES (Continued)** | **BONDS AND NOTES (Continued)** | **BONDS AND NOTES (Continued)** | **BONDS AND NOTES (Continued)** |
| ***France (Continued)*** |  |  |  |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE, 3.500%, 9/07/33 | EUR | 4200000 | $4834225 |
|  |  |  | 15298922 |
| ***Germany — 0.8%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse AG, 3.875%, 9/28/33 | EUR | 1300000 | 1528057 |
| &nbsp;&nbsp;&nbsp;Kreditanstalt fuer Wiederaufbau, 0.050%, 9/29/34 | EUR | 3500000 | 3118015 |
|  |  |  | 4646072 |
| ***Netherlands — 2.3%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;BNG Bank NV, 0.100%, 1/15/30 | EUR | 1000000 | 1040909 |
| &nbsp;&nbsp;&nbsp;BNG Bank NV, 0.125%, 4/19/33 | EUR | 4000000 | 3750273 |
| &nbsp;&nbsp;&nbsp;BNG Bank NV, 2.750%, 8/28/34 | EUR | 5000000 | 5566811 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA, (SOFR + 0.710%), 4.361%, 3/05/27 ‡ | USD | 500000 | 501500 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA, (SOFR + 0.900%), 4.578%, 10/05/26 ‡ | USD | 1110000 | 1112561 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA, (3-mo. Swap + 0.880%), 4.874%, 5/22/26 ‡ | AUD | 700000 | 483117 |
|  |  |  | 12455171 |
| ***New Zealand — 5.1%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;New Zealand Government Bonds, 2.000%, 5/15/32 | NZD | 29000000 | 14555114 |
| &nbsp;&nbsp;&nbsp;New Zealand Local Government Funding Agency Bonds, 2.250%, 5/15/31 | NZD | 15000000 | 7721283 |
| &nbsp;&nbsp;&nbsp;New Zealand Local Government Funding Agency Bonds, 4.500%, 5/14/32 | NZD | 5000000 | 2838296 |
| &nbsp;&nbsp;&nbsp;New Zealand Local Government Funding Agency Bonds, 5.000%, 3/08/34 | AUD | 4500000 | 3016166 |
|  |  |  | 28130859 |
| ***Norway — 3.2%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Equinor ASA, 1.375%, 5/22/32 | EUR | 2000000 | 2041782 |
| &nbsp;&nbsp;&nbsp;Kommunalbanken AS, (SOFR + 1.000%), 4.648%, 6/17/26 ‡ | USD | 15300000 | 15328424 |
|  |  |  | 17370206 |
| ***Singapore — 1.8%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings Ltd., (SOFR + 0.600%), 4.247%, 3/21/28 ±‡ | USD | 3400000 | 3405701 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings Ltd., (SOFR + 0.600%), 4.247%, 3/21/28 ‡ | USD | 1200000 | 1202012 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings Ltd., (SOFR + 0.650%), 4.297%, 3/21/30 ‡ | USD | 5100000 | 5129330 |
|  |  |  | 9737043 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** |
| ***Supranational — 15.9%*** |  |  | |
| &nbsp;&nbsp;&nbsp;Asian Development Bank, (SOFR + 0.300%), 3.948%, 6/20/28 ‡ | USD | 2000000 | $2000128 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank, (SOFR + 1.000%), 4.656%, 8/27/26 ‡ | USD | 2896000 | 2906630 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank, (SOFR + 1.000%), 4.681%, 4/06/27 ‡ | USD | 200000 | 201529 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank, 4.800%, 1/17/33 | AUD | 5000000 | 3355780 |
| &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank (The), (SOFR + 0.620%), 4.280%, 8/16/27 ‡ | USD | 5000000 | 5024676 |
| &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development, (SOFR + 0.190%), 3.858%, 4/14/26 ‡ | USD | 3126000 | 3125980 |
| &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development, (SOFR + 0.330%), 3.990%, 2/20/28 ‡ | USD | 10000000 | 10009923 |
| &nbsp;&nbsp;&nbsp;European Investment Bank, (SOFR + 0.320%), 3.980%, 8/14/29 ‡ | USD | 2000000 | 2001920 |
| &nbsp;&nbsp;&nbsp;European Investment Bank, (SOFR + 1.000%), 4.656%, 5/21/28 ‡ | USD | 3800000 | 3855855 |
| &nbsp;&nbsp;&nbsp;European Union, 3.000%, 12/04/34 | EUR | 5000000 | 5652736 |
| &nbsp;&nbsp;&nbsp;European Union, 3.125%, 12/04/30 | EUR | 1000000 | 1164395 |
| &nbsp;&nbsp;&nbsp;European Union, 3.250%, 7/04/34 | EUR | 7200000 | 8312031 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank, (SOFR + 0.270%), 3.918%, 3/20/28 ‡ | USD | 2000000 | 2001694 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank, (SOFR + 0.280%), 3.950%, 4/12/27 ‡ | USD | 1000000 | 1000712 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank, (SOFR + 0.350%), 4.035%, 10/04/27 ‡ | USD | 5483000 | 5496908 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank, (SOFR + 0.350%), 4.035%, 10/05/28 ‡ | USD | 3020000 | 3026856 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank, (SOFR + 0.370%), 4.035%, 8/01/29 ‡ | USD | 4000000 | 4013780 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development, (SOFR + 0.270%), 3.918%, 6/15/27 @‡ | USD | 8500000 | 8514885 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development, (SOFR + 0.370%), 4.039%, 1/12/27 ‡ | USD | 1000000 | 1001426 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Global Fixed Income Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** |
| **BONDS AND NOTES (Continued)** | **BONDS AND NOTES (Continued)** | **BONDS AND NOTES (Continued)** | **BONDS AND NOTES (Continued)** |
| ***Supranational (Continued)*** |  |  |  |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development, (SOFR + 0.430%), 4.090%, 8/19/27 ‡ | USD | 3650000 | $3663674 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development, 4.200%, 4/21/33 | AUD | 2000000 | 1288220 |
| &nbsp;&nbsp;&nbsp;International Finance Corp., 3.635%, 8/26/33 | AUD | 500000 | 310440 |
| &nbsp;&nbsp;&nbsp;Nordic Investment Bank, (SOFR + 0.290%), 3.975%, 10/04/27 ±‡ | USD | 8325000 | 8339562 |
| &nbsp;&nbsp;&nbsp;Nordic Investment Bank, (SOFR + 1.000%), 4.661%, 5/12/26 ‡ | USD | 1050000 | 1050978 |
|  |  |  | 87320718 |
| ***Sweden — 1.2%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB, (SOFR + 1.000%), 4.664%, 5/05/27 ‡ | USD | 3000000 | 3024989 |
| &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB, (SOFR + 1.000%), 4.665%, 8/03/26 ‡ | USD | 1835000 | 1840285 |
| &nbsp;&nbsp;&nbsp;Swedbank AB, (SOFR + 1.030%), 4.687%, 11/20/29 ±‡ | USD | 1700000 | 1717223 |
|  |  |  | 6582497 |
| ***United States — 32.7%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., 3.000%, 5/06/33 | EUR | 5600000 | 6248369 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp., 2.000%, 3/18/34 | EUR | 10000000 | 10290873 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc., 4.750%, 5/25/33 | USD | 5000000 | 5031973 |
| &nbsp;&nbsp;&nbsp;Chevron USA, Inc., (SOFR + 0.470%), 4.124%, 2/26/28 ‡ | USD | 2000000 | 2001909 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co., (SOFR + 0.530%), 4.198%, 10/15/28 ‡ | USD | 6200000 | 6210997 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp., 0.835%, 6/26/32 | EUR | 11100000 | 10969469 |
| &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., (SOFR + 0.130%), 3.760%, 8/12/26 ‡ | USD | 280000 | 280121 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank NA, (SOFR + 1.165%), 4.830%, 10/30/26 ‡ | USD | 5250000 | 5272931 |
| &nbsp;&nbsp;&nbsp;National Securities Clearing Corp., (SOFR + 0.570%), 4.227%, 5/20/27 ±‡ | USD | 1500000 | 1502442 |
| &nbsp;&nbsp;&nbsp;Nestle Finance International Ltd., 2.875%, 1/14/32 | EUR | 2602000 | 2941524 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. (The), 2.900%, 11/03/33 | EUR | 2600000 | 2896145 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. (The), 3.200%, 4/29/34 | EUR | 4500000 | 5080472 |
| &nbsp;&nbsp;&nbsp;Roche Holdings, Inc., (SOFR + 0.740%), 4.400%, 11/13/26 ±‡ | USD | 1050000 | 1051581 |
| &nbsp;&nbsp;&nbsp;Sanofi SA, 2.750%, 3/11/31 | EUR | 5200000 | 5865301 |
| &nbsp;&nbsp;&nbsp;Shell International Finance BV, 1.875%, 4/07/32 | EUR | 1800000 | 1899142 |
| &nbsp;&nbsp;&nbsp;State Street Corp., (SOFR + 0.640%), 4.306%, 10/22/27 ‡ | USD | 3560000 | 3569429 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 10/15/26 | USD | 6545715 | 6602919 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 1/15/30 | USD | 17696420 | 16943855 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **FACE<br> AMOUNT** | **FACE<br> AMOUNT** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 7/15/30 | USD | 17758020 | $16910509 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.125%, 1/15/31 | USD | 17490200 | 16451112 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.250%, 7/15/29 | USD | 16528070 | 16080453 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 0.375%, 7/15/27 | USD | 28583605 | 28586797 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 1.125%, 1/15/33 | USD | 3602841 | 3474133 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, 1.750%, 1/15/34 | USD | 2644950 | 2636273 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA, (SOFR + 1.070%), 4.719%, 12/11/26 ‡ | USD | 385000 | 386085 |
|  |  |  | 179184814 |
| &nbsp;&nbsp;&nbsp;TOTAL BONDS AND NOTES<br> (Identified Cost $531,230,850) |  |  | 534280317 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | |
| **SHORT-TERM INVESTMENTS — 0.8%** |  |  |
| ***Investment Company — 0.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% | 4270820 | 4270820 |
| ***Collateral For Securities On Loan — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Government Money Market Portfolio 3.680% | 306750 | 306750 |
| TOTAL SHORT-TERM INVESTMENTS<br> (Identified Cost $4,577,570) |  | 4577570 |
| **Total Investments — 98.3% <br> (Identified Cost $535,808,420)** |  | **538857887** |
| &nbsp;&nbsp;&nbsp;Cash and Other Assets, Less Liabilities — 1.7% |  | 9159922 |
| **Net Assets — 100.0%** |  | $**548017809** |

---

---

| |
|:---|
| See Note 1 |
| 144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at March 31, 2026 amounted to $51,233,337 or 9.35% of the net assets of the Fund. |
| Floating rate or variable rate note. Rate shown is as of March 31, 2026. |
| A portion or all of the security was held on loan. As of March 31, 2026, the fair value of the securities on loan was $300,631. |
| Zero coupon bond |

---

---

| |
|:---|
| Key to abbreviations: |
| AUD — Australian Dollar |
| CAD — Canadian Dollar |
| EUR — Euro Currency |
| NZD — New Zealand Dollar |
| SOFR — Secured Overnight Financing Rate |
| USD — U.S. Dollar |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Global Fixed Income Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

**Forward Foreign Currency Exchange Contracts sold outstanding as of March 31, 2026**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Settlement <br> Date** | **Currency <br> Purchased** | **Currency <br> Purchased** | **Currency <br> Sold** | **Currency <br> Sold** | **Counterparty** | **Total <br> Value** | **Unrealized <br> Appreciation** | **Unrealized <br> Depreciation** |
| 04/01/26 | USD | 6441405 | NZD | 10750217 | State Street Bank & Trust Co. | $6177611 | $263794 | $— |
| 04/09/26 | USD | 3286408 | CAD | 4481820 | State Street Bank & Trust Co. | 3222935 | 63474 |  |
| 04/10/26 | USD | 27935183 | EUR | 24128418 | State Street Bank & Trust Co. | 27899268 | 35915 |  |
| 04/13/26 | USD | 8814393 | AUD | 12314149 | State Street Bank & Trust Co. | 8494967 | 319426 |  |
| 04/13/26 | USD | 5949731 | NZD | 9910478 | State Street Bank & Trust Co. | 5697101 | 252629 |  |
| 04/15/26 | USD | 3962443 | CAD | 5377174 | State Street Bank & Trust Co. | 3867809 | 94634 |  |
| 04/20/26 | USD | 384188 | NZD | 634590 | State Street Bank & Trust Co. | 364882 | 19306 |  |
| 04/24/26 | USD | 2499733 | CAD | 3416245 | State Street Bank & Trust Co. | 2458276 | 41457 |  |
| 04/24/26 | USD | 7553704 | NZD | 12629145 | State Street Bank & Trust Co. | 7262567 | 291137 |  |
| 04/27/26 | USD | 18780468 | CAD | 25878274 | State Street Bank & Trust Co. | 18624043 | 156426 |  |
| 04/29/26 | USD | 52700505 | CAD | 72876703 | State Street Bank & Trust Co. | 52452397 | 248108 |  |
| 04/30/26 | USD | 45412331 | EUR | 37859594 | State Street Bank & Trust Co. | 43818299 | 1594032 |  |
| 05/22/26 | USD | 32750308 | EUR | 28466340 | State Street Bank & Trust Co. | 32979692 |  | (229384) |
| 05/26/26 | USD | 14802233 | AUD | 21237895 | State Street Bank & Trust Co. | 14642449 | 159784 |  |
| 05/26/26 | USD | 28991881 | EUR | 24922005 | State Street Bank & Trust Co. | 28878608 | 113273 |  |
| 06/02/26 | USD | 5675830 | NZD | 9895675 | State Street Bank & Trust Co. | 5698938 |  | (23108) |
| 06/18/26 | USD | 6530733 | NZD | 11207938 | State Street Bank & Trust Co. | 6458066 | 72667 |  |
|  |  |  |  |  |  |  | $**3726062** | $**(252492)** |

---

**Forward Foreign Currency Exchange Contracts purchased outstanding as of March 31, 2026**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Settlement <br> Date** | **Currency <br> Purchased** | **Currency <br> Purchased** | **Currency <br> Sold** | **Currency <br> Sold** | **Counterparty** | **Total <br> Value** | **Unrealized <br> Appreciation** | **Unrealized <br> Depreciation** |
| 04/01/26 | NZD | 9895675 | USD | 5664086 | State Street Bank & Trust Co. | $5686549 | $22462 | $— |
| 04/01/26 | NZD | 854542 | USD | 509134 | State Street Bank & Trust Co. | 491062 |  | (18072) |
| 04/24/26 | NZD | 569539 | USD | 332303 | State Street Bank & Trust Co. | 327521 |  | (4781) |
| 04/30/26 | EUR | 1148874 | USD | 1331571 | State Street Bank & Trust Co. | 1329695 |  | (1876) |
| 05/26/26 | AUD | 1562617 | USD | 1070299 | State Street Bank & Trust Co. | 1077345 | 7046 |  |
|  |  |  |  |  |  |  | $**29508** | $**(24729)** |
| **Total** |  |  |  |  |  |  | $**3755570** | $**(277221)** |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS — 95.1%** |  |  |
| ***Aerospace & Defense — 2.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;ATI, Inc. \* | 1233 | $179352 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise, Inc. \* | 479 | 203426 |
| &nbsp;&nbsp;&nbsp;Boeing Co. (The) \* | 8201 | 1632245 |
| &nbsp;&nbsp;&nbsp;BWX Technologies, Inc. | 1140 | 233119 |
| &nbsp;&nbsp;&nbsp;Carpenter Technology Corp. | 592 | 233337 |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright Corp. | 354 | 241116 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 2193 | 752681 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | 5444 | 1544844 |
| &nbsp;&nbsp;&nbsp;HEICO Corp. | 574 | 157391 |
| &nbsp;&nbsp;&nbsp;HEICO Corp., Class A | 530 | 111878 |
| &nbsp;&nbsp;&nbsp;Hexcel Corp. | 452 | 36580 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | 1946 | 448475 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. | 381 | 144742 |
| &nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions, Inc. \* | 768 | 54152 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | 1182 | 407967 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3963 | 2395198 |
| &nbsp;&nbsp;&nbsp;Moog, Inc., Class A | 182 | 53260 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 1266 | 863716 |
| &nbsp;&nbsp;&nbsp;Rocket Lab Corp. \* | 1262 | 81046 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | 12703 | 2450409 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. | 2582 | 226080 |
| &nbsp;&nbsp;&nbsp;TransDigm Group, Inc. | 704 | 815908 |
| &nbsp;&nbsp;&nbsp;Woodward, Inc. | 559 | 200077 |
|  |  | 13466999 |
| ***Air Freight & Logistics — 0.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide, Inc. | 1901 | 315699 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington, Inc. | 2033 | 291187 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | 2834 | 1009414 |
| &nbsp;&nbsp;&nbsp;GXO Logistics, Inc. \* | 745 | 38628 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., Class B | 14446 | 1421198 |
|  |  | 3076126 |
| ***Automobile Components — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aptiv PLC \* | 2924 | 203043 |
| &nbsp;&nbsp;&nbsp;Autoliv, Inc. | 1465 | 154059 |
| &nbsp;&nbsp;&nbsp;BorgWarner, Inc. | 2767 | 150137 |
|  |  | 507239 |
| ***Automobiles — 1.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | 8430 | 97282 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | 6389 | 475981 |
| &nbsp;&nbsp;&nbsp;Rivian Automotive, Inc., Class A \* | 3399 | 51155 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc. \* | 17808 | 6620124 |
|  |  | 7244542 |
| ***Beverages — 1.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp., Class B @ | 4083 | 107955 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. (The) | 57587 | 4379491 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated, Inc. | 1320 | 253097 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | 1757 | 263550 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | 3375 | 88864 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co., Class B | 1400 | 60284 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp. \* | 6972 | 505191 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | 26459 | 4108818 |
|  |  | 9767250 |
| ***Biotechnology — 2.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | 22326 | 4855682 |
| &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals, Inc. \* | 1198 | 396382 |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | 11547 | 4062812 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc. \* | 1615 | 296078 |
| &nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical, Inc. \* | 1169 | 66037 |
| &nbsp;&nbsp;&nbsp;Bridgebio Pharma, Inc. \* | 679 | 50422 |
| &nbsp;&nbsp;&nbsp;Exelixis, Inc. \* | 3578 | 153460 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | 19310 | 2691235 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;GRAIL, Inc. \* | 262 | $13540 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc. \* | 3014 | 194795 |
| &nbsp;&nbsp;&nbsp;Incyte Corp. \* | 894 | 84143 |
| &nbsp;&nbsp;&nbsp;Insmed, Inc. \* | 516 | 84376 |
| &nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals, Inc. \* | 541 | 40624 |
| &nbsp;&nbsp;&nbsp;Moderna, Inc. \* | 1071 | 54407 |
| &nbsp;&nbsp;&nbsp;Natera, Inc. \* | 492 | 98395 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc. \* | 608 | 80098 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | 639 | 493717 |
| &nbsp;&nbsp;&nbsp;Revolution Medicines, Inc. \* | 337 | 32773 |
| &nbsp;&nbsp;&nbsp;Roivant Sciences Ltd. \* | 1541 | 42686 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp. \* | 461 | 273364 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc. \* | 2429 | 1084646 |
|  |  | 15149672 |
| ***Broadline Retail — 3.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. \* | 120217 | 25037594 |
| &nbsp;&nbsp;&nbsp;Coupang, Inc. \* | 6806 | 128497 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | 6141 | 558954 |
| &nbsp;&nbsp;&nbsp;Etsy, Inc. \* | 1250 | 62475 |
| &nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings, Inc. \* | 691 | 63600 |
|  |  | 25851120 |
| ***Building Products — 0.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;A.O. Smith Corp. | 1521 | 100295 |
| &nbsp;&nbsp;&nbsp;AAON, Inc. @ | 521 | 43113 |
| &nbsp;&nbsp;&nbsp;Advanced Drainage Systems, Inc. | 200 | 27426 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | 2478 | 360029 |
| &nbsp;&nbsp;&nbsp;Armstrong World Industries, Inc. | 243 | 40046 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc. \* | 2521 | 207554 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos., Inc. | 606 | 202174 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 5139 | 289377 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Innovations, Inc. | 1834 | 71471 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | 580 | 75951 |
| &nbsp;&nbsp;&nbsp;Lennox International, Inc. | 595 | 276157 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | 4275 | 258082 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing Co. \* | 204 | 44209 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 1113 | 120449 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | 116 | 19908 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | 3115 | 1298145 |
| &nbsp;&nbsp;&nbsp;UFP Industries, Inc. | 812 | 74801 |
| &nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions Corp. | 642 | 28787 |
|  |  | 3537974 |
| ***Capital Markets — 2.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group, Inc. | 600 | 166020 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | 1429 | 635048 |
| &nbsp;&nbsp;&nbsp;Ares Management Corp., Class A | 1606 | 175215 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. (The) | 4707 | 558391 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc. | 1218 | 1171363 |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | 6683 | 768478 |
| &nbsp;&nbsp;&nbsp;Carlyle Group, Inc. (The) | 1219 | 58987 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. | 1028 | 288940 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. (The) | 14444 | 1357447 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | 2288 | 675761 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A \* | 739 | 129037 |
| &nbsp;&nbsp;&nbsp;Evercore, Inc., Class A | 400 | 119404 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc. | 469 | 101768 |
| &nbsp;&nbsp;&nbsp;Franklin Resources, Inc. | 2732 | 64530 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | 2257 | 1909400 |
| &nbsp;&nbsp;&nbsp;Hamilton Lane, Inc., Class A | 723 | 71866 |
| &nbsp;&nbsp;&nbsp;Houlihan Lokey, Inc. | 916 | 131556 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Inc., Class A | 3848 | 258085 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | 3821 | 600967 |
| &nbsp;&nbsp;&nbsp;Invesco Ltd. | 2611 | 63421 |
| &nbsp;&nbsp;&nbsp;Janus Henderson Group PLC | 1 | 51 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. | 1620 | 66857 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Capital Markets (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;KKR & Co., Inc. | 5286 | $488955 |
| &nbsp;&nbsp;&nbsp;LPL Financial Holdings, Inc. | 1023 | 307749 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings, Inc. | 627 | 103443 |
| &nbsp;&nbsp;&nbsp;Moelis & Co., Class A | 653 | 37221 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 2547 | 1111129 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 11897 | 1957889 |
| &nbsp;&nbsp;&nbsp;Morningstar, Inc. | 304 | 51391 |
| &nbsp;&nbsp;&nbsp;MSCI, Inc. | 922 | 496967 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. | 3887 | 329967 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 1618 | 225824 |
| &nbsp;&nbsp;&nbsp;PJT Partners, Inc., Class A | 284 | 39681 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | 1798 | 260332 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Inc., Class A \* | 1886 | 130700 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | 2006 | 853232 |
| &nbsp;&nbsp;&nbsp;SEI Investments Co. | 1932 | 151604 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 1628 | 206040 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | 2517 | 186057 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group, Inc. | 3705 | 333969 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Inc., Class A | 325 | 38240 |
|  |  | 16682982 |
| ***Chemicals — 1.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | 2422 | 703567 |
| &nbsp;&nbsp;&nbsp;Albemarle Corp. | 956 | 171631 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems Ltd. \* | 1604 | 44431 |
| &nbsp;&nbsp;&nbsp;Celanese Corp. | 1241 | 81620 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | 1971 | 255915 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | 5428 | 454378 |
| &nbsp;&nbsp;&nbsp;Dow, Inc. | 2782 | 115870 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. | 1434 | 65677 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 1476 | 112648 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | 3234 | 860309 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. | 1684 | 57492 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. | 1457 | 105705 |
| &nbsp;&nbsp;&nbsp;Linde PLC | 4857 | 2407906 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV, Class A | 3118 | 251186 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. (The) | 1614 | 41157 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | 3241 | 346398 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | 1444 | 143534 |
| &nbsp;&nbsp;&nbsp;Sherwin Williams Co. (The) | 3806 | 1220013 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials, Inc. | 1756 | 133737 |
|  |  | 7573174 |
| ***Commercial Banks — 2.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 51509 | 2511064 |
| &nbsp;&nbsp;&nbsp;BOK Financial Corp. | 300 | 38418 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | 5386 | 610826 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | 454 | 27226 |
| &nbsp;&nbsp;&nbsp;Columbia Banking System, Inc. | 1378 | 37799 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | 2759 | 135743 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | 699 | 95819 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | 1577 | 168360 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 8649 | 401833 |
| &nbsp;&nbsp;&nbsp;First Citizens Bancshares, Inc., Class A | 112 | 211082 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | 3862 | 87899 |
| &nbsp;&nbsp;&nbsp;FNB Corp. | 5930 | 99150 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp, Inc. | 919 | 41052 |
| &nbsp;&nbsp;&nbsp;Home BancShares, Inc. | 1840 | 49551 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | 14700 | 230055 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 25544 | 7514023 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;KeyCorp | 4839 | $97022 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | 522 | 107908 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | 2043 | 45150 |
| &nbsp;&nbsp;&nbsp;Pinnacle Financial Partners, Inc. | 1679 | 144629 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. (The) | 2775 | 577450 |
| &nbsp;&nbsp;&nbsp;Popular, Inc. | 1642 | 220307 |
| &nbsp;&nbsp;&nbsp;Prosperity Bancshares, Inc. | 1026 | 68927 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | 3661 | 95625 |
| &nbsp;&nbsp;&nbsp;Southstate Bank Corp. | 400 | 37008 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 3912 | 179835 |
| &nbsp;&nbsp;&nbsp;U.S. Bancorp | 15032 | 781814 |
| &nbsp;&nbsp;&nbsp;UMB Financial Corp. | 355 | 40040 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | 377 | 26171 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 31501 | 2507795 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | 1740 | 123279 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | 600 | 83364 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | 2092 | 120541 |
|  |  | 17516765 |
| ***Commercial Services & Supplies — 0.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc., Class A \* | 549 | 43558 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | 5631 | 952427 |
| &nbsp;&nbsp;&nbsp;Clean Harbors, Inc. \* | 642 | 184081 |
| &nbsp;&nbsp;&nbsp;Copart, Inc. \* | 8667 | 287744 |
| &nbsp;&nbsp;&nbsp;MSA Safety, Inc. | 600 | 98370 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | 2738 | 599677 |
| &nbsp;&nbsp;&nbsp;Rollins, Inc. | 4629 | 247235 |
| &nbsp;&nbsp;&nbsp;Tetra Tech, Inc. | 3200 | 96384 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | 2108 | 186389 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | 6389 | 1468128 |
|  |  | 4163993 |
| ***Communications Equipment — 1.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc. \* | 10185 | 1250514 |
| &nbsp;&nbsp;&nbsp;Ciena Corp. \* | 2569 | 997363 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | 46218 | 3586055 |
| &nbsp;&nbsp;&nbsp;F5, Inc. \* | 646 | 186907 |
| &nbsp;&nbsp;&nbsp;Lumentum Holdings, Inc. \* | 314 | 220667 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. | 2888 | 1253305 |
|  |  | 7494811 |
| ***Computers & Peripherals — 6.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | 156352 | 39680574 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | 3734 | 612862 |
| &nbsp;&nbsp;&nbsp;Everpure, Inc., Class A \* | 2027 | 119674 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 6204 | 147717 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | 16520 | 317349 |
| &nbsp;&nbsp;&nbsp;IonQ, Inc. \*@ | 1045 | 30127 |
| &nbsp;&nbsp;&nbsp;NetApp, Inc. | 3794 | 388468 |
| &nbsp;&nbsp;&nbsp;Sandisk Corp. \* | 821 | 521614 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings PLC | 2763 | 1082433 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc. \* | 1322 | 30102 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | 2465 | 666758 |
|  |  | 43597678 |
| ***Construction & Engineering — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;AECOM | 1355 | 114931 |
| &nbsp;&nbsp;&nbsp;API Group Corp. \* | 2782 | 112727 |
| &nbsp;&nbsp;&nbsp;Comfort Systems USA, Inc. | 533 | 735002 |
| &nbsp;&nbsp;&nbsp;EMCOR Group, Inc. | 656 | 484331 |
| &nbsp;&nbsp;&nbsp;Everus Construction Group, Inc. \* | 1 | 118 |
| &nbsp;&nbsp;&nbsp;Fluor Corp. \* | 831 | 38766 |
| &nbsp;&nbsp;&nbsp;MasTec, Inc. \* | 591 | 190148 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Construction & Engineering (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Primoris Services Corp. | 285 | $40767 |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. | 1401 | 769177 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure, Inc. \* | 349 | 142137 |
| &nbsp;&nbsp;&nbsp;Valmont Industries, Inc. | 200 | 79914 |
|  |  | 2708018 |
| ***Construction Materials — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;CRH PLC | 936 | 98392 |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | 548 | 103818 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | 582 | 342612 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 1259 | 342826 |
|  |  | 887648 |
| ***Consumer Finance — 0.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | 1983 | 77793 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 7047 | 2131577 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 4033 | 735740 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Corp. \*@ | 86 | 36418 |
| &nbsp;&nbsp;&nbsp;FirstCash Holdings, Inc. | 286 | 53768 |
| &nbsp;&nbsp;&nbsp;OneMain Holdings, Inc. | 677 | 36213 |
| &nbsp;&nbsp;&nbsp;SoFi Technologies, Inc. \* | 6056 | 96169 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 2776 | 188823 |
|  |  | 3356501 |
| ***Consumer Staples Distribution & Retail — 2.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc., Class A | 2313 | 39413 |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc. \* | 2341 | 230401 |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | 347 | 252567 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 5534 | 5514244 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4564 | 541884 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc. \* | 1472 | 161199 |
| &nbsp;&nbsp;&nbsp;Kroger Co. (The) | 9608 | 695235 |
| &nbsp;&nbsp;&nbsp;Maplebear, Inc. \* | 876 | 32815 |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co. \* | 1336 | 114442 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market, Inc. \* | 1478 | 113998 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. | 9579 | 683270 |
| &nbsp;&nbsp;&nbsp;Target Corp. | 10013 | 1213575 |
| &nbsp;&nbsp;&nbsp;U.S. Foods Holding Corp. \* | 1600 | 147536 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | 55374 | 6881881 |
|  |  | 16622460 |
| ***Containers & Packaging — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Amcor PLC | 6450 | 256388 |
| &nbsp;&nbsp;&nbsp;AptarGroup, Inc. | 845 | 106487 |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | 2080 | 359174 |
| &nbsp;&nbsp;&nbsp;Ball Corp. | 2814 | 166336 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | 1488 | 149172 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 4336 | 154795 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 1160 | 246175 |
| &nbsp;&nbsp;&nbsp;Smurfit Westrock PLC | 1 | 40 |
|  |  | 1438567 |
| ***Distributors — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. | 2179 | 230429 |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | 4303 | 126379 |
| &nbsp;&nbsp;&nbsp;Pool Corp. | 484 | 97928 |
|  |  | 454736 |
| ***Diversified Consumer Services — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;ADT, Inc. | 3988 | 26201 |
| &nbsp;&nbsp;&nbsp;Liberty Live Holdings, Inc., Class A \* | 328 | 30058 |
| &nbsp;&nbsp;&nbsp;Liberty Live Holdings, Inc., Class C \* | 367 | 34539 |
| &nbsp;&nbsp;&nbsp;Service Corp. International | 2063 | 170218 |
|  |  | 261016 |
| ***Diversified Telecommunication Services — 1.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;AST SpaceMobile, Inc. \*@ | 701 | 58092 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | 55778 | $| 1617004 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | 55820 |  | 1602592 |
| &nbsp;&nbsp;&nbsp;GCI Liberty, Inc., Class A \* | 7 |  | 258 |
| &nbsp;&nbsp;&nbsp;GCI Liberty, Inc., Class C \* | 291 |  | 10828 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies, Inc. \* | 5202 |  | 36154 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | 59788 |  | 3001358 |
|  |  |  | 6326286 |
| ***Electric Utilities — 2.0%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | 4621 |  | 331603 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | 8417 |  | 1103300 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | 3987 |  | 1113370 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 12215 |  | 1599432 |
| &nbsp;&nbsp;&nbsp;Edison International | 5709 |  | 417785 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | 5738 |  | 644722 |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. | 3652 |  | 299172 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 5876 |  | 407089 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | 15965 |  | 782604 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | 5602 |  | 283797 |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | 647 |  | 92502 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | 26331 |  | 2445623 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | 3712 |  | 542472 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | 3314 |  | 158939 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | 2100 |  | 36897 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | 1978 |  | 199283 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | 750 |  | 39578 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | 9200 |  | 351440 |
| &nbsp;&nbsp;&nbsp;Southern Co. (The) | 16775 |  | 1619123 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | 9222 |  | 732596 |
|  |  |  | 13201327 |
| ***Electrical Equipment — 0.8%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | 354 |  | 99198 |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | 2141 |  | 458945 |
| &nbsp;&nbsp;&nbsp;Bloom Energy Corp., Class A \* | 447 |  | 60564 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | 4909 |  | 1755802 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 5965 |  | 781534 |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | 682 |  | 595318 |
| &nbsp;&nbsp;&nbsp;Generac Holdings, Inc. \* | 668 |  | 130480 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. | 685 |  | 336157 |
| &nbsp;&nbsp;&nbsp;Nextpower, Inc., Class A \* | 947 |  | 114161 |
| &nbsp;&nbsp;&nbsp;nVent Electric PLC | 1736 |  | 205334 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | 1098 |  | 205611 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | 1446 |  | 518941 |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings Co., Class A | 1257 |  | 314979 |
|  |  |  | 5577024 |
| ***Electronic Equipment, Instruments & Components — 1.0%*** | ***Electronic Equipment, Instruments & Components — 1.0%*** | ***Electronic Equipment, Instruments & Components — 1.0%*** | ***Electronic Equipment, Instruments & Components — 1.0%*** |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | 15581 |  | 1968659 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc. \* | 651 |  | 93360 |
| &nbsp;&nbsp;&nbsp;CDW Corp. | 2939 |  | 355678 |
| &nbsp;&nbsp;&nbsp;Cognex Corp. | 252 |  | 12345 |
| &nbsp;&nbsp;&nbsp;Coherent Corp. \* | 812 |  | 193426 |
| &nbsp;&nbsp;&nbsp;Corning, Inc. | 7647 |  | 1039763 |
| &nbsp;&nbsp;&nbsp;Fabrinet \* | 506 |  | 263889 |
| &nbsp;&nbsp;&nbsp;Flex Ltd. \* | 4248 |  | 278074 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | 2001 |  | 531526 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. \* | 1071 |  | 302418 |
| &nbsp;&nbsp;&nbsp;Littelfuse, Inc. | 36 |  | 12217 |
| &nbsp;&nbsp;&nbsp;Ralliant Corp. | 1 |  | 42 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | 836 |  | 141042 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 3575 |  | 747246 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc. \* | 294 |  | 177873 |
| &nbsp;&nbsp;&nbsp;Trimble, Inc. \* | 1892 |  | 123415 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc. \* | 411 |  | 40040 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| **Electronic Equipment, Instruments & Components (Continued)** | **Electronic Equipment, Instruments & Components (Continued)** | **Electronic Equipment, Instruments & Components (Continued)** |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A \* | 374 | $78196 |
|  |  | 6359209 |
| **Energy Equipment & Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Archrock, Inc. | 801 | 27875 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | 3464 | 211477 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 2470 | 96305 |
| &nbsp;&nbsp;&nbsp;NOV, Inc. | 2708 | 50938 |
| &nbsp;&nbsp;&nbsp;SLB Ltd. | 9537 | 490106 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | 4963 | 343092 |
| &nbsp;&nbsp;&nbsp;Transocean Ltd. \* | 6746 | 44726 |
| &nbsp;&nbsp;&nbsp;Valaris Ltd. \* | 458 | 44902 |
| &nbsp;&nbsp;&nbsp;Weatherford International PLC | 456 | 43129 |
|  |  | 1352550 |
| **Entertainment — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Atlanta Braves Holdings, Inc., Class C \* | 58 | 2477 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | 424 | 86441 |
| &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty Formula One, Class A \* | 2 | 156 |
| &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty Formula One, Class C \* | 1723 | 146489 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc. \* | 2466 | 376090 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc. \* | 47470 | 4564240 |
| &nbsp;&nbsp;&nbsp;ROBLOX Corp., Class A \* | 2437 | 137837 |
| &nbsp;&nbsp;&nbsp;Roku, Inc. \* | 1025 | 96986 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA \* | 853 | 413628 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc. \* | 2052 | 405270 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Inc. | 628 | 126636 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. (The) | 11325 | 1091503 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery, Inc. \* | 7497 | 205868 |
| &nbsp;&nbsp;&nbsp;Warner Music Group Corp., Class A | 1467 | 37467 |
|  |  | 7691088 |
| **Financial Services — 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Affirm Holdings, Inc. \* | 1361 | 62361 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | 5497 | 612476 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B \* | 12209 | 5850553 |
| &nbsp;&nbsp;&nbsp;Block, Inc. \* | 2239 | 134743 |
| &nbsp;&nbsp;&nbsp;Corebridge Financial, Inc. | 814 | 19422 |
| &nbsp;&nbsp;&nbsp;Corpay, Inc. \* | 1166 | 339294 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | 7584 | 281442 |
| &nbsp;&nbsp;&nbsp;Essent Group Ltd. | 700 | 40908 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | 5177 | 242853 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. \* | 5152 | 287482 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. | 2160 | 145368 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | 953 | 150612 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Inc., Class A | 477 | 50428 |
| &nbsp;&nbsp;&nbsp;MasterCard, Inc., Class A | 15734 | 7861650 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | 4400 | 115500 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. | 8856 | 400557 |
| &nbsp;&nbsp;&nbsp;Rocket Cos., Inc., Class A \* | 1367 | 19480 |
| &nbsp;&nbsp;&nbsp;Toast, Inc., Class A \* | 2632 | 69774 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | 26623 | 8046536 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | 1206 | 82394 |
|  |  | 24813833 |
| **Food Products — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 455 | 33074 |
| &nbsp;&nbsp;&nbsp;Bunge Global SA | 836 | 106339 |
| &nbsp;&nbsp;&nbsp;Campbell's Co. (The) @ | 2104 | 46856 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. | 1972 | $| 31000 |
| &nbsp;&nbsp;&nbsp;Darling Ingredients, Inc. \* | 739 |  | 45707 |
| &nbsp;&nbsp;&nbsp;Flowers Foods, Inc. @ | 2 |  | 16 |
| &nbsp;&nbsp;&nbsp;General Mills, Inc. | 8511 |  | 316780 |
| &nbsp;&nbsp;&nbsp;Hershey Co. (The) | 2946 |  | 612444 |
| &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | 3316 |  | 75107 |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | 866 |  | 97564 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. (The) | 1268 |  | 122286 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Co. (The) | 3268 |  | 73497 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | 3492 |  | 147572 |
| &nbsp;&nbsp;&nbsp;McCormick & Co., Inc. | 2892 |  | 145873 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | 11759 |  | 677789 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | 940 |  | 35494 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | 2688 |  | 172220 |
|  |  |  | 2739618 |
| **Gas Utilities — 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 2360 |  | 435939 |
| &nbsp;&nbsp;&nbsp;MDU Resources Group, Inc. | 1 |  | 21 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 1600 |  | 150336 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings, Inc. | 300 |  | 26070 |
| &nbsp;&nbsp;&nbsp;UGI Corp. | 2799 |  | 101939 |
|  |  |  | 714305 |
| **Ground Transportation — 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;CSX Corp. | 23181 |  | 951580 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services, Inc. | 954 |  | 202153 |
| &nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc. | 2249 |  | 129497 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 2236 |  | 641732 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | 2339 |  | 457041 |
| &nbsp;&nbsp;&nbsp;Ryder System, Inc. | 259 |  | 53020 |
| &nbsp;&nbsp;&nbsp;Saia, Inc. \* | 200 |  | 70256 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. \*@ | 152 |  | 7262 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. | 869 |  | 38818 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. \* | 9836 |  | 707503 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 9280 |  | 2251514 |
| &nbsp;&nbsp;&nbsp;XPO, Inc. \* | 1854 |  | 360696 |
|  |  |  | 5871072 |
| **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** | **Health Care Equipment & Supplies — 1.2%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 17149 |  | 1760688 |
| &nbsp;&nbsp;&nbsp;ABIOMED, Inc. CVR \*¶§ | 350 |  |  |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc. \* | 581 |  | 99601 |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. | 5511 |  | 92585 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | 1681 |  | 264304 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp. \* | 10979 |  | 688932 |
| &nbsp;&nbsp;&nbsp;Cooper Cos., Inc. (The) \* | 1444 |  | 103246 |
| &nbsp;&nbsp;&nbsp;Dexcom, Inc. \* | 3076 |  | 193173 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp. \* | 3681 |  | 294774 |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp. \* | 1 |  | 25 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | 909 |  | 64703 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Inc., Class A \* | 57 |  | 4911 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc. \* | 1286 |  | 722590 |
| &nbsp;&nbsp;&nbsp;Insulet Corp. \* | 740 |  | 155282 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc. \* | 1973 |  | 909533 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | 7672 |  | 664779 |
| &nbsp;&nbsp;&nbsp;Penumbra, Inc. \* | 300 |  | 98511 |
| &nbsp;&nbsp;&nbsp;ResMed, Inc. | 1368 |  | 307089 |
| &nbsp;&nbsp;&nbsp;Solventum Corp. \* | 3287 |  | 214641 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | 889 |  | 196585 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | 3275 |  | 1076132 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| **Health Care Equipment & Supplies (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | 1186 | $107238 |
|  |  | 8019322 |
| **Health Care Providers & Services — 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | 3943 | 833195 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | 2652 | 833099 |
| &nbsp;&nbsp;&nbsp;Centene Corp. \* | 1984 | 64956 |
| &nbsp;&nbsp;&nbsp;Cigna Group (The) | 2532 | 675411 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4313 | 309760 |
| &nbsp;&nbsp;&nbsp;DaVita, Inc. \* | 458 | 70390 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | 2132 | 624143 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | 1356 | 131166 |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. (The) | 687 | 138430 |
| &nbsp;&nbsp;&nbsp;Guardant Health, Inc. \* | 983 | 90800 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | 1957 | 926131 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc. \* | 331 | 27662 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc. \* | 1420 | 104654 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | 772 | 133857 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings, Inc. | 579 | 154483 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | 1532 | 1325732 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc. \* | 831 | 110772 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | 980 | 192060 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. \* | 1281 | 241738 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | 8503 | 2300827 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | 662 | 118478 |
|  |  | 9407744 |
| **Health Care Technology — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Inc., Class A \* | 1016 | 178471 |
| **Hotels, Restaurants & Leisure — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Inc., Class A \* | 1780 | 224778 |
| &nbsp;&nbsp;&nbsp;Aramark | 2445 | 99120 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | 395 | 1663076 |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc. \* | 491 | 70100 |
| &nbsp;&nbsp;&nbsp;Carnival Corp. | 2589 | 67003 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc. \* | 20879 | 668337 |
| &nbsp;&nbsp;&nbsp;Churchill Downs, Inc. | 1048 | 94142 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | 1819 | 356597 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | 399 | 143157 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A \* | 810 | 121622 |
| &nbsp;&nbsp;&nbsp;Dutch Bros, Inc., Class A \* | 691 | 35006 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | 2025 | 467552 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | 3388 | 1030223 |
| &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp., Class A | 300 | 43137 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | 3185 | 171608 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc., Class A | 2816 | 921029 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | 8998 | 2796489 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings Ltd. \* | 2479 | 46357 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc., Class A \* | 1127 | 83826 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 2550 | 701709 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. | 14262 | 1277733 |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | 971 | 160351 |
| &nbsp;&nbsp;&nbsp;Vail Resorts, Inc. @ | 666 | 85461 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. @ | 324 | 50210 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. | 1412 | 114697 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | 738 | 74944 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | 3476 | 540449 |
|  |  | 12108713 |
| **Household Durables — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;DR Horton, Inc. | 2541 | 348676 |
| &nbsp;&nbsp;&nbsp;Garmin Ltd. | 1512 | 350799 |
| &nbsp;&nbsp;&nbsp;Installed Building Products, Inc. | 100 | 26515 |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class A | 1783 | 154836 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class B | 72 | $| 6057 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries, Inc. \* | 600 |  | 59076 |
| &nbsp;&nbsp;&nbsp;NVR, Inc. \* | 38 |  | 250413 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | 1926 |  | 226517 |
| &nbsp;&nbsp;&nbsp;SharkNinja, Inc. \* | 397 |  | 42042 |
| &nbsp;&nbsp;&nbsp;Somnigroup International, Inc. | 3440 |  | 254285 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp. \* | 1243 |  | 72392 |
| &nbsp;&nbsp;&nbsp;Toll Brothers, Inc. | 1051 |  | 143430 |
| &nbsp;&nbsp;&nbsp;TopBuild Corp. \* | 361 |  | 126819 |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 555 |  | 29926 |
|  |  |  | 2091783 |
| **Household Products — 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co., Inc. | 1955 |  | 182441 |
| &nbsp;&nbsp;&nbsp;Clorox Co. (The) | 2311 |  | 239489 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 12032 |  | 1025487 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 4287 |  | 413567 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. (The) | 37114 |  | 5360746 |
|  |  |  | 7221730 |
| **Independent Power Producers & Energy Traders — 0.1%** | **Independent Power Producers & Energy Traders — 0.1%** | **Independent Power Producers & Energy Traders — 0.1%** | **Independent Power Producers & Energy Traders — 0.1%** |
| &nbsp;&nbsp;&nbsp;AES Corp. (The) | 11000 |  | 154990 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Inc., Class C | 2400 |  | 94296 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies, Inc. | 433 |  | 48461 |
| &nbsp;&nbsp;&nbsp;Talen Energy Corp. \* | 107 |  | 34158 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | 3525 |  | 529913 |
|  |  |  | 861818 |
| **Industrial Conglomerates — 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;3M Co. | 5998 |  | 871090 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | 9442 |  | 2134175 |
|  |  |  | 3005265 |
| **Insurance — 1.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | 4376 |  | 480091 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. (The) | 2506 |  | 519594 |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | 429 |  | 54788 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | 6543 |  | 492361 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | 3262 |  | 1052908 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. \* | 3373 |  | 323774 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. | 1622 |  | 351293 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | 793 |  | 172723 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings Ltd. | 1300 |  | 131833 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. | 1861 |  | 121356 |
| &nbsp;&nbsp;&nbsp;Chubb Ltd. | 3276 |  | 1067747 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | 1150 |  | 180952 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity Co., Class A | 350 |  | 87958 |
| &nbsp;&nbsp;&nbsp;Everest Group Ltd. | 191 |  | 62428 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | 2857 |  | 132508 |
| &nbsp;&nbsp;&nbsp;First American Financial Corp. | 2024 |  | 122027 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | 959 |  | 133464 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. (The) | 243 |  | 42124 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. (The) | 3562 |  | 481689 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | 257 |  | 87807 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 1449 |  | 51440 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | 1471 |  | 157015 |
| &nbsp;&nbsp;&nbsp;Markel Group, Inc. \* | 100 |  | 191407 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | 7886 |  | 1367827 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | 4850 |  | 342992 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 2863 |  | 114234 |
| &nbsp;&nbsp;&nbsp;Primerica, Inc. | 435 |  | 108959 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | 2619 |  | 235998 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. (The) | 6652 |  | 1318692 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | 957 |  | 93489 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. | 649 |  | 132500 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. | 783 |  | 232731 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. (The) | 3435 |  | 1001921 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| **Insurance (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unum Group | 1700 | $124151 |
| &nbsp;&nbsp;&nbsp;&nbsp;W R Berkley Corp. | 2276 | 150853 |
| &nbsp;&nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | 1050 | 305235 |
|  |  | 12028869 |
| **Interactive Media & Services — 7.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | 61456 | 17672287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | 53502 | 15347584 |
| &nbsp;&nbsp;&nbsp;&nbsp;Match Group, Inc. | 2359 | 72445 |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | 34309 | 19629208 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reddit, Inc., Class A \* | 269 | 36221 |
|  |  | 52757745 |
| **IT Services — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accenture PLC, Class A | 7867 | 1559947 |
| &nbsp;&nbsp;&nbsp;&nbsp;Akamai Technologies, Inc. \* | 1609 | 184794 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amdocs Ltd. | 2260 | 147488 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cloudflare, Inc., Class A \* | 1393 | 287432 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | 4623 | 283621 |
| &nbsp;&nbsp;&nbsp;&nbsp;EPAM Systems, Inc. \* | 639 | 86521 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gartner, Inc. \* | 985 | 155965 |
| &nbsp;&nbsp;&nbsp;&nbsp;GoDaddy, Inc., Class A \* | 2137 | 176666 |
| &nbsp;&nbsp;&nbsp;&nbsp;International Business Machines Corp. | 16047 | 3889632 |
| &nbsp;&nbsp;&nbsp;&nbsp;MongoDB, Inc. \* | 284 | 69515 |
| &nbsp;&nbsp;&nbsp;&nbsp;Okta, Inc. \* | 1243 | 97836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Snowflake, Inc. \* | 834 | 125784 |
| &nbsp;&nbsp;&nbsp;&nbsp;Twilio, Inc., Class A \* | 609 | 76624 |
| &nbsp;&nbsp;&nbsp;&nbsp;VeriSign, Inc. | 1032 | 256307 |
|  |  | 7398132 |
| **Leisure Equipment & Products — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Hasbro, Inc. | 2087 | 195343 |
| **Life Sciences Tools & Services — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | 2711 | 309000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bio-Rad Laboratories, Inc., Class A \* | 223 | 62161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bio-Techne Corp. | 1495 | 78129 |
| &nbsp;&nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc. \* | 640 | 110400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Danaher Corp. | 5259 | 997106 |
| &nbsp;&nbsp;&nbsp;&nbsp;Illumina, Inc. \* | 1035 | 127574 |
| &nbsp;&nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc. \* | 2227 | 379793 |
| &nbsp;&nbsp;&nbsp;&nbsp;Medpace Holdings, Inc. \* | 463 | 222328 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc. \* | 264 | 332957 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revvity, Inc. | 1223 | 107147 |
| &nbsp;&nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | 2316 | 1138383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Waters Corp. \* | 994 | 296013 |
| &nbsp;&nbsp;&nbsp;&nbsp;West Pharmaceutical Services, Inc. | 759 | 190236 |
|  |  | 4351227 |
| **Machinery — 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AGCO Corp. | 829 | 96056 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allison Transmission Holdings, Inc. | 1376 | 161075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Caterpillar, Inc. | 7252 | 5137752 |
| &nbsp;&nbsp;&nbsp;&nbsp;CNH Industrial NV | 6879 | 75669 |
| &nbsp;&nbsp;&nbsp;&nbsp;Crane Co. | 560 | 95760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cummins, Inc. | 1437 | 773135 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deere & Co. | 3085 | 1737780 |
| &nbsp;&nbsp;&nbsp;&nbsp;Donaldson Co., Inc. | 1457 | 123656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dover Corp. | 1329 | 277030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Esab Corp. | 564 | 54516 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Federal Signal Corp. | 808 | $87377 |
| &nbsp;&nbsp;&nbsp;Flowserve Corp. | 1430 | 105119 |
| &nbsp;&nbsp;&nbsp;Fortive Corp. | 2248 | 124269 |
| &nbsp;&nbsp;&nbsp;Franklin Electric Co., Inc. | 300 | 27651 |
| &nbsp;&nbsp;&nbsp;Graco, Inc. | 1841 | 155841 |
| &nbsp;&nbsp;&nbsp;IDEX Corp. | 881 | 166994 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | 5245 | 1365221 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | 2507 | 200861 |
| &nbsp;&nbsp;&nbsp;ITT, Inc. | 917 | 174716 |
| &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings, Inc. | 873 | 217447 |
| &nbsp;&nbsp;&nbsp;Middleby Corp. (The) \* | 612 | 81139 |
| &nbsp;&nbsp;&nbsp;Mueller Industries, Inc. | 776 | 85981 |
| &nbsp;&nbsp;&nbsp;Nordson Corp. | 589 | 156709 |
| &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 906 | 133372 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 5642 | 434885 |
| &nbsp;&nbsp;&nbsp;PACCAR, Inc. | 3370 | 389235 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 1185 | 1060859 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 1393 | 121344 |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc. \* | 285 | 154789 |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | 598 | 217206 |
| &nbsp;&nbsp;&nbsp;SPX Technologies, Inc. \* | 182 | 36389 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | 1936 | 137572 |
| &nbsp;&nbsp;&nbsp;Timken Co., (The) | 236 | 23735 |
| &nbsp;&nbsp;&nbsp;Toro Co. (The) | 1219 | 113903 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Inc., Class A | 314 | 91151 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 1144 | 285897 |
| &nbsp;&nbsp;&nbsp;Xylem, Inc. | 1587 | 189647 |
|  |  | 14871738 |
| **Marine Transportation — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Kirby Corp. \* | 322 | 42787 |
| **Media — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A \*@ | 1657 | 357713 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | 3686 | 215262 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class B | 661 | 35099 |
| &nbsp;&nbsp;&nbsp;Liberty Broadband Corp., Class A \* | 39 | 1958 |
| &nbsp;&nbsp;&nbsp;Liberty Broadband Corp., Class C \* | 1043 | 52463 |
| &nbsp;&nbsp;&nbsp;New York Times Co. (The), Class A | 749 | 62714 |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | 3913 | 97551 |
| &nbsp;&nbsp;&nbsp;News Corp., Class B | 1525 | 43478 |
| &nbsp;&nbsp;&nbsp;Nexstar Media Group, Inc. | 95 | 17179 |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc. | 6773 | 510075 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp., Class B | 447 | 4032 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Inc. (The), Class A \* | 3136 | 71156 |
| &nbsp;&nbsp;&nbsp;Versant Media Group, Inc. \* | 1 | 37 |
|  |  | 1468717 |
| **Metals & Mining — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Alcoa Corp. | 2296 | 152294 |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc. \* | 892 | 7537 |
| &nbsp;&nbsp;&nbsp;Commercial Metals Co. | 1475 | 90609 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. | 6585 | 387066 |
| &nbsp;&nbsp;&nbsp;Hecla Mining Co. | 3598 | 67031 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 4649 | 503254 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 1446 | 244519 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | 516 | 156823 |
| &nbsp;&nbsp;&nbsp;Royal Gold, Inc. | 1115 | 283756 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. @ | 1460 | 251208 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | 1303 | 234540 |
|  |  | 2378637 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| **Multi-Utilities — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Ameren Corp. | 3328 | $365814 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 545 | 37829 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc. | 6700 | 289172 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 5199 | 403338 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | 5063 | 573030 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | 13388 | 827646 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 3247 | 474776 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. | 5791 | 270208 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | 8415 | 681194 |
| &nbsp;&nbsp;&nbsp;Sempra | 5686 | 552509 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | 4154 | 480909 |
|  |  | 4956425 |
| **Oil, Gas & Consumable Fuels — 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Antero Midstream Corp. | 3600 | 82080 |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp. \* | 3300 | 140052 |
| &nbsp;&nbsp;&nbsp;APA Corp. | 1655 | 70238 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | 3401 | 965068 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | 18731 | 3875444 |
| &nbsp;&nbsp;&nbsp;Chord Energy Corp. | 237 | 33697 |
| &nbsp;&nbsp;&nbsp;CNX Resources Corp. \* | 965 | 37201 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 17157 | 2264724 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | 8623 | 303012 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 4928 | 247977 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | 793 | 156847 |
| &nbsp;&nbsp;&nbsp;DT Midstream, Inc. | 980 | 131977 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | 6688 | 966884 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | 3800 | 241832 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | 1555 | 170708 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 39954 | 6778596 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | 2161 | 134825 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | 8265 | 277125 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 2105 | 513999 |
| &nbsp;&nbsp;&nbsp;Matador Resources Co. | 656 | 41446 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 12838 | 834470 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. | 6040 | 545956 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | 3035 | 180158 |
| &nbsp;&nbsp;&nbsp;Permian Resources Corp., Class A | 2910 | 62041 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | 2402 | 437596 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | 3129 | 141368 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. | 1997 | 500708 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | 522 | 247720 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 1909 | 471676 |
| &nbsp;&nbsp;&nbsp;Viper Energy, Inc., Class A | 1275 | 59912 |
| &nbsp;&nbsp;&nbsp;Vitesse Energy, Inc. @ | 190 | 3450 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. (The) | 11620 | 845704 |
|  |  | 21764491 |
| **Paper & Forest Products — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Louisiana-Pacific Corp. | 391 | 28445 |
| **Passenger Airlines — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;American Airlines Group, Inc. \* | 4400 | 47256 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines, Inc. | 4487 | 298296 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 5800 | 217906 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc. \* | 2884 | 265530 |
|  |  | 828988 |
| **Personal Products — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Estee Lauder Cos., Inc. (The), Class A | 2029 | 145621 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | 29296 | 505063 |
|  |  | 650684 |
| **Pharmaceuticals — 4.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 15925 | 965851 |
| &nbsp;&nbsp;&nbsp;Elanco Animal Health, Inc. \* | 4517 | 108092 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 14994 | $| 13791031 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC \* | 1092 |  | 206443 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 30834 |  | 7537063 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | 33114 |  | 3983283 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | 40872 |  | 1147686 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. | 10369 |  | 140085 |
| &nbsp;&nbsp;&nbsp;Zoetis, Inc. | 7084 |  | 837400 |
|  |  |  | 28716934 |
| **Professional Services — 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Amentum Holdings, Inc. \* | 206 |  | 5372 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | 5716 |  | 1161377 |
| &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corp. | 3323 |  | 259294 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | 1862 |  | 302538 |
| &nbsp;&nbsp;&nbsp;CACI International, Inc., Class A \* | 249 |  | 135424 |
| &nbsp;&nbsp;&nbsp;Concentrix Corp. | 144 |  | 3940 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. | 1024 |  | 184392 |
| &nbsp;&nbsp;&nbsp;ExlService Holdings, Inc. \* | 1320 |  | 40194 |
| &nbsp;&nbsp;&nbsp;Genpact Ltd. | 1626 |  | 60568 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions, Inc. | 195 |  | 24819 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | 1015 |  | 157853 |
| &nbsp;&nbsp;&nbsp;Parsons Corp. \* | 540 |  | 29252 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | 5549 |  | 511174 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | 888 |  | 107927 |
| &nbsp;&nbsp;&nbsp;Paylocity Holding Corp. \* | 668 |  | 72171 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies Holdings, Inc. | 3246 |  | 219332 |
| &nbsp;&nbsp;&nbsp;TransUnion | 2099 |  | 145230 |
| &nbsp;&nbsp;&nbsp;UL Solutions, Inc., Class A | 501 |  | 42941 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | 2746 |  | 521053 |
|  |  |  | 3984851 |
| **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A \* | 2851 |  | 386197 |
| &nbsp;&nbsp;&nbsp;CoStar Group, Inc. \* | 2760 |  | 111338 |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc. \* | 303 |  | 92209 |
| &nbsp;&nbsp;&nbsp;Zillow Group, Inc., Class A \* | 436 |  | 18046 |
| &nbsp;&nbsp;&nbsp;Zillow Group, Inc., Class C \* | 1159 |  | 47959 |
|  |  |  | 655749 |
| **Semiconductors & Semiconductor Equipment — 12.9%** | **Semiconductors & Semiconductor Equipment — 12.9%** | **Semiconductors & Semiconductor Equipment — 12.9%** | **Semiconductors & Semiconductor Equipment — 12.9%** |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc. \* | 10285 |  | 2092277 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | 3106 |  | 988143 |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | 9893 |  | 3381328 |
| &nbsp;&nbsp;&nbsp;Astera Labs, Inc. \* | 494 |  | 54142 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | 48052 |  | 14872574 |
| &nbsp;&nbsp;&nbsp;Cirrus Logic, Inc. \* | 307 |  | 44398 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding Ltd. \* | 400 |  | 37548 |
| &nbsp;&nbsp;&nbsp;Entegris, Inc. | 1452 |  | 170232 |
| &nbsp;&nbsp;&nbsp;First Solar, Inc. \* | 970 |  | 191342 |
| &nbsp;&nbsp;&nbsp;Intel Corp. \* | 28850 |  | 1273150 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 2438 |  | 3589736 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 20116 |  | 4297985 |
| &nbsp;&nbsp;&nbsp;Lattice Semiconductor Corp. \* | 859 |  | 79681 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. \* | 654 |  | 145234 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | 5992 |  | 593508 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | 7490 |  | 483929 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. | 8892 |  | 3004073 |
| &nbsp;&nbsp;&nbsp;MKS, Inc. | 102 |  | 23441 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | 459 |  | 501848 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 258007 |  | 44996421 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | 1369 |  | 269501 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp. \* | 2542 |  | 157401 |
| &nbsp;&nbsp;&nbsp;Onto Innovation, Inc. \* | 204 |  | 41834 |
| &nbsp;&nbsp;&nbsp;Qnity Electronics, Inc. | 717 |  | 82727 |
| &nbsp;&nbsp;&nbsp;Qorvo, Inc. \* | 855 |  | 66177 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | 16133 |  | 2077608 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
| **Semiconductors & Semiconductor Equipment (Continued)** | **Semiconductors & Semiconductor Equipment (Continued)** | **Semiconductors & Semiconductor Equipment (Continued)** |
| &nbsp;&nbsp;&nbsp;Rambus, Inc. \* | 627 | $53941 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions, Inc. | 1474 | 78933 |
| &nbsp;&nbsp;&nbsp;Teradyne, Inc. | 1484 | 439947 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | 11627 | 2257266 |
| &nbsp;&nbsp;&nbsp;Universal Display Corp. | 379 | 34739 |
|  |  | 86381064 |
| **Software — 6.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Adobe, Inc. \* | 6423 | 1561303 |
| &nbsp;&nbsp;&nbsp;Appfolio, Inc., Class A \* | 96 | 15151 |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A \* | 1162 | 462476 |
| &nbsp;&nbsp;&nbsp;Atlassian Corp., Class A \* | 1245 | 84971 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc. \* | 2329 | 557563 |
| &nbsp;&nbsp;&nbsp;Bentley Systems, Inc., Class B | 2343 | 82286 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc. \* | 2580 | 716905 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A \* | 825 | 322088 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A \* | 784 | 92551 |
| &nbsp;&nbsp;&nbsp;DocuSign, Inc. \* | 618 | 29299 |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Inc., Class A | 938 | 56336 |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A \* | 3142 | 71386 |
| &nbsp;&nbsp;&nbsp;Dynatrace, Inc. \* | 1205 | 44561 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp. \* | 303 | 323465 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc. \* | 10538 | 861165 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | 3818 | 71893 |
| &nbsp;&nbsp;&nbsp;Guidewire Software, Inc. \* | 488 | 72985 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc. \* | 406 | 99105 |
| &nbsp;&nbsp;&nbsp;InterDigital, Inc. | 227 | 68554 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | 2586 | 1118135 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc. \* | 1022 | 136049 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 75928 | 28106268 |
| &nbsp;&nbsp;&nbsp;Nutanix, Inc., Class A \* | 1918 | 72903 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 26244 | 3860755 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A \* | 13943 | 2039582 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc. \* | 4300 | 689376 |
| &nbsp;&nbsp;&nbsp;Pegasystems, Inc. | 1150 | 48944 |
| &nbsp;&nbsp;&nbsp;PTC, Inc. \* | 1031 | 146907 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | 642 | 227178 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | 6219 | 1160901 |
| &nbsp;&nbsp;&nbsp;Samsara, Inc., Class A \* | 1561 | 49468 |
| &nbsp;&nbsp;&nbsp;SentinelOne, Inc., Class A \* | 2184 | 28130 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc. \* | 7765 | 811831 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc. \* | 1401 | 555468 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies, Inc. \* | 290 | 99290 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A \* | 981 | 127452 |
| &nbsp;&nbsp;&nbsp;Zoom Communications, Inc. \* | 832 | 66884 |
| &nbsp;&nbsp;&nbsp;Zscaler, Inc. \* | 705 | 98904 |
|  |  | 45038468 |
| **Specialty Retail — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc. \* | 654 | 127700 |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. \* | 208 | 702578 |
| &nbsp;&nbsp;&nbsp;Best Buy Co., Inc. | 3983 | 255708 |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc. \* | 571 | 185792 |
| &nbsp;&nbsp;&nbsp;CarMax, Inc. \* | 1900 | 79002 |
| &nbsp;&nbsp;&nbsp;Carvana Co. \* | 1450 | 455851 |
| &nbsp;&nbsp;&nbsp;Chewy, Inc., Class A \* | 1711 | 46197 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. @ | 946 | 187582 |
| &nbsp;&nbsp;&nbsp;Five Below, Inc. \* | 211 | 48209 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A \* | 701 | 35611 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. (The) | 1878 | 45448 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. (The) | 18549 | $| 6100581 |
| &nbsp;&nbsp;&nbsp;Lithia Motors, Inc. | 199 |  | 49694 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | 7021 |  | 1658922 |
| &nbsp;&nbsp;&nbsp;Murphy USA, Inc. | 344 |  | 169926 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. \* | 10453 |  | 964916 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group, Inc. | 257 |  | 38427 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | 5011 |  | 1085533 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. (The) | 17354 |  | 2771434 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. | 8267 |  | 374495 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc. \* | 697 |  | 364329 |
| &nbsp;&nbsp;&nbsp;Valvoline, Inc. \* | 466 |  | 15695 |
| &nbsp;&nbsp;&nbsp;Wayfair, Inc., Class A \* | 426 |  | 32039 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | 1894 |  | 345333 |
|  |  |  | 16141002 |
| **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor Corp. \* | 2094 |  | 209589 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc. \* | 2254 |  | 345087 |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | 11406 |  | 602465 |
| &nbsp;&nbsp;&nbsp;PVH Corp. | 1 |  | 70 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | 507 |  | 174403 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | 2865 |  | 404280 |
| &nbsp;&nbsp;&nbsp;VF Corp. | 1109 |  | 18842 |
|  |  |  | 1754736 |
| **Tobacco — 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | 23551 |  | 1554130 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | 19411 |  | 3209415 |
|  |  |  | 4763545 |
| **Trading Companies & Distributors — 0.5%** | **Trading Companies & Distributors — 0.5%** | **Trading Companies & Distributors — 0.5%** | **Trading Companies & Distributors — 0.5%** |
| &nbsp;&nbsp;&nbsp;Applied Industrial Technologies, Inc. | 374 |  | 99230 |
| &nbsp;&nbsp;&nbsp;Core & Main, Inc., Class A \* | 1729 |  | 85413 |
| &nbsp;&nbsp;&nbsp;Fastenal Co. | 14646 |  | 679575 |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc. | 332 |  | 77442 |
| &nbsp;&nbsp;&nbsp;FTAI Aviation Ltd. | 961 |  | 235445 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 410 |  | 70003 |
| &nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc. \* | 454 |  | 60432 |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | 985 |  | 717632 |
| &nbsp;&nbsp;&nbsp;Watsco, Inc. @ | 357 |  | 129873 |
| &nbsp;&nbsp;&nbsp;WESCO International, Inc. | 365 |  | 99871 |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. | 709 |  | 773384 |
|  |  |  | 3028300 |
| **Water Utilities — 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;American Water Works Co., Inc. | 3475 |  | 472913 |
| &nbsp;&nbsp;&nbsp;Essential Utilities, Inc. | 2393 |  | 96366 |
|  |  |  | 569279 |
| **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;T-Mobile U.S., Inc. | 7083 |  | 1487642 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCKS<br> (Identified Cost $95,186,492) |  |  | 635144227 |
| **MUTUAL FUNDS — 4.5%** |  |  |  |
| **Others — 4.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;DFA U.S. Micro Cap Portfolio | 923237 |  | 30208301 |
| &nbsp;&nbsp;&nbsp;TOTAL MUTUAL FUNDS<br> (Identified Cost $9,934,060) |  |  | 30208301 |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |
| **Investment Company — 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% | 1667017 |  | 1667017 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Core Market Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **SHORT-TERM INVESTMENTS (Continued)** |  |  |
| **Collateral For Securities On Loan — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Government Money Market Portfolio 3.680% | $132338 | $132338 |
| &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS(Identified Cost $1,799,355) |  | 1799355 |
| **Total Investments — 99.9%<br> (Identified Cost $106,919,907)** |  | **667151883** |
| &nbsp;&nbsp;&nbsp;Cash and Other Assets, Less Liabilities — 0.1% |  | 804486 |
| **Net Assets — 100.0%** |  | $**667956369** |

---

---

| | |
|:---|:---|
| † | See Note 1 |
| \* | Non-income producing security |
| @ | A portion or all of the security was held on loan. As of March 31, 2026, the fair value of the securities on loan was $1,053,720. |
| ¶ | Contingent value rights based on future performance. |
| § | Fair valued security. Security is valued using significant unobservable inputs as determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1 |

---

Key to abbreviations <br> CVR — Contingent Value Rights

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** |
| ***Aerospace & Defense — 2.7%*** | ***Aerospace & Defense — 2.7%*** | ***Aerospace & Defense — 2.7%*** |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 7826 | $2686040 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | 6055 | 2089883 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 4864 | 3318415 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | 36091 | 6961954 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. | 4987 | 436662 |
|  |  | 15492954 |
| ***Air Freight & Logistics — 1.0%*** | ***Air Freight & Logistics — 1.0%*** | ***Air Freight & Logistics — 1.0%*** |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | 14843 | 5286780 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., Class B | 4156 | 408867 |
|  |  | 5695647 |
| ***Automobile Components — 0.2%*** | ***Automobile Components — 0.2%*** | ***Automobile Components — 0.2%*** |
| &nbsp;&nbsp;&nbsp;BorgWarner, Inc. | 24241 | 1315317 |
| ***Automobiles — 1.3%*** | ***Automobiles — 1.3%*** | ***Automobiles — 1.3%*** |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | 179189 | 2067841 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | 73732 | 5493034 |
|  |  | 7560875 |
| ***Beverages — 0.4%*** | ***Beverages — 0.4%*** | ***Beverages — 0.4%*** |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | 10451 | 1567650 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | 27263 | 717835 |
|  |  | 2285485 |
| ***Biotechnology — 1.2%*** | ***Biotechnology — 1.2%*** | ***Biotechnology — 1.2%*** |
| &nbsp;&nbsp;&nbsp;Biogen, Inc. \* | 3878 | 710954 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | 12981 | 1809162 |
| &nbsp;&nbsp;&nbsp;Incyte Corp. \* | 1784 | 167910 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | 3232 | 2497173 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp. \* | 683 | 405005 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc. \* | 2574 | 1149394 |
|  |  | 6739598 |
| ***Broadline Retail — 1.9%*** | ***Broadline Retail — 1.9%*** | ***Broadline Retail — 1.9%*** |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. \* | 52738 | 10983743 |
| ***Building Products — 0.7%*** | ***Building Products — 0.7%*** | ***Building Products — 0.7%*** |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc. \* | 4516 | 371802 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 22435 | 1263315 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Innovations, Inc. | 7486 | 291729 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | 11442 | 1498330 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 3518 | 380718 |
|  |  | 3805894 |
| ***Capital Markets — 3.1%*** | ***Capital Markets — 3.1%*** | ***Capital Markets — 3.1%*** |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. (The) | 35048 | 4157744 |
| &nbsp;&nbsp;&nbsp;Franklin Resources, Inc. | 5210 | 123060 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | 6443 | 5450713 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | 3517 | 553154 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. | 3256 | 134375 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 31663 | 5210780 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 938 | 130917 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | 4361 | 631429 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 10112 | 1279775 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group, Inc. | 1285 | 115830 |
|  |  | 17787777 |
| ***Chemicals — 2.5%*** | ***Chemicals — 2.5%*** | ***Chemicals — 2.5%*** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | 8304 | 2412229 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | 6602 | 857204 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | 18513 | 1549723 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. | 10913 | 499815 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 11080 | 845626 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. | 5249 | 380815 |
| &nbsp;&nbsp;&nbsp;Linde PLC | 12368 | 6131560 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | 8879 | 948987 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 4853 | 566927 |
|  |  | 14192886 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| ***Commercial Banks — 10.2%*** | ***Commercial Banks — 10.2%*** | ***Commercial Banks — 10.2%*** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 90136 | $4394130 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | 39630 | 4494438 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | 15595 | 935232 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | 2390 | 255156 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 68407 | 3178189 |
| &nbsp;&nbsp;&nbsp;First Citizens Bancshares, Inc., Class A | 153 | 288353 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | 72900 | 1140885 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 86515 | 25449252 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 33936 | 680417 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | 3759 | 777061 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. (The) | 11566 | 2406769 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | 103340 | 2699241 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 45621 | 2097197 |
| &nbsp;&nbsp;&nbsp;U.S. Bancorp | 40031 | 2082012 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 99373 | 7911085 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | 4132 | 238086 |
|  |  | 59027503 |
| ***Commercial Services & Supplies — 0.4%*** | ***Commercial Services & Supplies — 0.4%*** | ***Commercial Services & Supplies — 0.4%*** |
| &nbsp;&nbsp;&nbsp;Copart, Inc. \* | 14582 | 484123 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | 9365 | 2051122 |
|  |  | 2535245 |
| ***Communications Equipment — 1.8%*** | ***Communications Equipment — 1.8%*** | ***Communications Equipment — 1.8%*** |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | 130988 | 10163359 |
| &nbsp;&nbsp;&nbsp;F5, Inc. \* | 869 | 251428 |
|  |  | 10414787 |
| ***Computers & Peripherals — 1.2%*** | ***Computers & Peripherals — 1.2%*** | ***Computers & Peripherals — 1.2%*** |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | 861 | 141316 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 141847 | 3377377 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | 4715 | 90575 |
| &nbsp;&nbsp;&nbsp;Sandisk Corp. \* | 5006 | 3180512 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc. \* | 2098 | 47772 |
|  |  | 6837552 |
| ***Construction Materials — 1.3%*** | ***Construction Materials — 1.3%*** | ***Construction Materials — 1.3%*** |
| &nbsp;&nbsp;&nbsp;CRH PLC | 27465 | 2887121 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | 4136 | 2434780 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 7957 | 2166691 |
|  |  | 7488592 |
| ***Consumer Finance — 0.7%*** | ***Consumer Finance — 0.7%*** | ***Consumer Finance — 0.7%*** |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | 10944 | 429333 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 11831 | 2158329 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 25544 | 1737503 |
|  |  | 4325165 |
| ***Consumer Staples Distribution & Retail — 1.5%*** | ***Consumer Staples Distribution & Retail — 1.5%*** | ***Consumer Staples Distribution & Retail — 1.5%*** |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | 1143 | 831944 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4555 | 540815 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc. \* | 11066 | 1211838 |
| &nbsp;&nbsp;&nbsp;Kroger Co. (The) | 41321 | 2989988 |
| &nbsp;&nbsp;&nbsp;Target Corp. | 16536 | 2004163 |
| &nbsp;&nbsp;&nbsp;U.S. Foods Holding Corp. \* | 11078 | 1021502 |
|  |  | 8600250 |
| ***Containers & Packaging — 0.4%*** | ***Containers & Packaging — 0.4%*** | ***Containers & Packaging — 0.4%*** |
| &nbsp;&nbsp;&nbsp;Amcor PLC | 4153 | 165082 |
| &nbsp;&nbsp;&nbsp;Ball Corp. | 6731 | 397869 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 24693 | 881540 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 2898 | 615014 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | 611 | 33049 |
|  |  | 2092554 |
| ***Distributors — 0.2%*** | ***Distributors — 0.2%*** | ***Distributors — 0.2%*** |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. | 2990 | 316193 |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | 22668 | 665759 |
|  |  | 981952 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
| ***Diversified Telecommunication Services — 3.8%*** | ***Diversified Telecommunication Services — 3.8%*** | ***Diversified Telecommunication Services — 3.8%*** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | 287354 | $8330393 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | 202907 | 5825460 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | 156451 | 7853840 |
|  |  | 22009693 |
| ***Electrical Equipment — 0.9%*** | ***Electrical Equipment — 0.9%*** | ***Electrical Equipment — 0.9%*** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | 6575 | 1409417 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 25047 | 3281658 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. | 624 | 306222 |
|  |  | 4997297 |
| ***Electronic Equipment, Instruments & Components — 1.6%*** | ***Electronic Equipment, Instruments & Components — 1.6%*** | ***Electronic Equipment, Instruments & Components — 1.6%*** |
| &nbsp;&nbsp;&nbsp;Corning, Inc. | 20213 | 2748362 |
| &nbsp;&nbsp;&nbsp;Flex Ltd. \* | 23432 | 1533859 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. \* | 618 | 174505 |
| &nbsp;&nbsp;&nbsp;Ralliant Corp. | 2437 | 101355 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | 1143 | 192835 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 19914 | 4162424 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc. \* | 243 | 147017 |
|  |  | 9060357 |
| ***Energy Equipment & Services — 1.2%*** | ***Energy Equipment & Services — 1.2%*** | ***Energy Equipment & Services — 1.2%*** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | 54341 | 3317518 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 10538 | 410877 |
| &nbsp;&nbsp;&nbsp;SLB Ltd. | 63362 | 3256173 |
|  |  | 6984568 |
| ***Entertainment — 1.0%*** | ***Entertainment — 1.0%*** | ***Entertainment — 1.0%*** |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | 9241 | 1883963 |
| &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty Formula One, Class A \* | 1097 | 85654 |
| &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty Formula One, Class C \* | 2194 | 186534 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. (The) | 21229 | 2046051 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery, Inc. \* | 63964 | 1756451 |
|  |  | 5958653 |
| ***Financial Services — 2.7%*** | ***Financial Services — 2.7%*** | ***Financial Services — 2.7%*** |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B \* | 25243 | 12096446 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | 27979 | 1312495 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. \* | 11916 | 664913 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. | 7128 | 479714 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. | 28978 | 1310675 |
|  |  | 15864243 |
| ***Food Products — 1.8%*** | ***Food Products — 1.8%*** | ***Food Products — 1.8%*** |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 23803 | 1730240 |
| &nbsp;&nbsp;&nbsp;Bunge Global SA | 7718 | 981730 |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. | 8302 | 130507 |
| &nbsp;&nbsp;&nbsp;General Mills, Inc. | 38095 | 1417896 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. (The) | 880 | 84867 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Co. (The) | 20920 | 470491 |
| &nbsp;&nbsp;&nbsp;McCormick & Co., Inc. | 1921 | 96895 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | 51728 | 2981602 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | 36798 | 2357648 |
|  |  | 10251876 |
| ***Ground Transportation — 1.5%*** | ***Ground Transportation — 1.5%*** | ***Ground Transportation — 1.5%*** |
| &nbsp;&nbsp;&nbsp;CSX Corp. | 96197 | 3948887 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 14303 | 4104961 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. | 11881 | 530724 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. \*@ | 1815 | 86721 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. \* | 378 | $| 27189 |
|  |  |  | 8698482 |
| ***Health Care Equipment & Supplies — 2.7%*** | ***Health Care Equipment & Supplies — 2.7%*** | ***Health Care Equipment & Supplies — 2.7%*** | ***Health Care Equipment & Supplies — 2.7%*** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 35000 |  | 3593450 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | 13484 |  | 2120089 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp. \* | 18095 |  | 1135461 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp. \* | 7417 |  | 593953 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | 24661 |  | 1755370 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | 35985 |  | 3118100 |
| &nbsp;&nbsp;&nbsp;ResMed, Inc. | 3091 |  | 693868 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | 3097 |  | 684840 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | 3284 |  | 1079090 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | 6835 |  | 618021 |
|  |  |  | 15392242 |
| ***Health Care Providers & Services — 4.8%*** | ***Health Care Providers & Services — 4.8%*** | ***Health Care Providers & Services — 4.8%*** | ***Health Care Providers & Services — 4.8%*** |
| &nbsp;&nbsp;&nbsp;Centene Corp. \* | 19196 |  | 628477 |
| &nbsp;&nbsp;&nbsp;Cigna Group (The) | 16977 |  | 4528615 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | 56765 |  | 4076862 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | 9306 |  | 2724332 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc. \* | 3777 |  | 278365 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | 6723 |  | 1165701 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings, Inc. | 11532 |  | 3076853 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | 18589 |  | 3643072 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. \* | 450 |  | 84920 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | 27077 |  | 7326765 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | 1221 |  | 218522 |
|  |  |  | 27752484 |
| ***Hotels, Restaurants & Leisure — 0.3%*** | ***Hotels, Restaurants & Leisure — 0.3%*** | ***Hotels, Restaurants & Leisure — 0.3%*** | ***Hotels, Restaurants & Leisure — 0.3%*** |
| &nbsp;&nbsp;&nbsp;Aramark | 16117 |  | 653383 |
| &nbsp;&nbsp;&nbsp;Carnival Corp. | 34226 |  | 885769 |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment PLC \* | 2261 |  | 230509 |
| &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp., Class A | 643 |  | 92457 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International \* | 2440 |  | 90304 |
|  |  |  | 1952422 |
| ***Household Durables — 2.0%*** | ***Household Durables — 2.0%*** | ***Household Durables — 2.0%*** | ***Household Durables — 2.0%*** |
| &nbsp;&nbsp;&nbsp;DR Horton, Inc. | 23543 |  | 3230570 |
| &nbsp;&nbsp;&nbsp;Garmin Ltd. | 11585 |  | 2687836 |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class A | 19726 |  | 1713006 |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class B | 573 |  | 48201 |
| &nbsp;&nbsp;&nbsp;NVR, Inc. \* | 23 |  | 151566 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | 30384 |  | 3573462 |
|  |  |  | 11404641 |
| ***Household Products — 0.6%*** | ***Household Products — 0.6%*** | ***Household Products — 0.6%*** | ***Household Products — 0.6%*** |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co., Inc. | 483 |  | 45073 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. (The) | 21643 |  | 3126115 |
|  |  |  | 3171188 |
| ***Insurance — 5.6%*** | ***Insurance — 5.6%*** | ***Insurance — 5.6%*** | ***Insurance — 5.6%*** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | 32730 |  | 3590808 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. (The) | 8826 |  | 1829983 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | 29118 |  | 2191129 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. \* | 18837 |  | 1808164 |
| &nbsp;&nbsp;&nbsp;Chubb Ltd. | 11440 |  | 3728639 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | 370 |  | 58219 |
| &nbsp;&nbsp;&nbsp;Everest Group Ltd. | 583 |  | 190554 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc. | 193 |  | 4887 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | 1515 |  | 70266 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. (The) | 36014 |  | 4870173 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 9516 |  | 337818 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Insurance (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Loews Corp. | 5847 | $624109 |
| &nbsp;&nbsp;&nbsp;Markel Group, Inc. \* | 116 | 222032 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | 22858 | 1616518 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 5321 | 212308 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | 26311 | 2370884 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. (The) | 1680 | 333043 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | 20923 | 2043968 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. | 60 | 17834 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. (The) | 20385 | 5945897 |
| &nbsp;&nbsp;&nbsp;W.R. Berkley Corp. | 6200 | 410936 |
|  |  | 32478169 |
| ***IT Services — 0.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | 10310 | 2044370 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies, Inc. \* | 1649 | 189387 |
| &nbsp;&nbsp;&nbsp;Amdocs Ltd. | 6785 | 442789 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | 34305 | 2104612 |
| &nbsp;&nbsp;&nbsp;DXC Technology Co. \* | 2868 | 36051 |
|  |  | 4817209 |
| ***Life Sciences Tools & Services — 1.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | 4406 | 502196 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | 16625 | 3152100 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc. \* | 5406 | 921939 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | 7432 | 3653051 |
| &nbsp;&nbsp;&nbsp;Waters Corp. \* | 1824 | 543187 |
|  |  | 8772473 |
| ***Machinery — 4.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;CNH Industrial NV | 12374 | 136114 |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | 8496 | 4571018 |
| &nbsp;&nbsp;&nbsp;Deere & Co. | 6907 | 3890713 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | 6916 | 1441640 |
| &nbsp;&nbsp;&nbsp;Fortive Corp. | 7311 | 404152 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | 11262 | 902311 |
| &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 984 | 144855 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 23695 | 1826411 |
| &nbsp;&nbsp;&nbsp;PACCAR, Inc. | 30280 | 3497340 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 18534 | 1614497 |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | 6351 | 2306810 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | 8515 | 605076 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 5333 | 1332770 |
| &nbsp;&nbsp;&nbsp;Xylem, Inc. | 2684 | 320738 |
|  |  | 22994445 |
| ***Media — 0.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A \*@ | 3930 | 848408 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | 23101 | 1349099 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class B | 14510 | 770481 |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | 8320 | 207418 |
| &nbsp;&nbsp;&nbsp;News Corp., Class B | 30 | 855 |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc. | 7510 | 565578 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp., Class B | 9989 | 90101 |
| &nbsp;&nbsp;&nbsp;Versant Media Group, Inc. \* | 8215 | 304119 |
|  |  | 4136059 |
| ***Metals & Mining — 2.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. | 86590 | 5089760 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 42413 | 4591208 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 22499 | 3804581 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | 1561 | 474419 |
| &nbsp;&nbsp;&nbsp;Royal Gold, Inc. | 725 | 184505 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | 8313 | $| 1496340 |
|  |  |  | 15640813 |
| ***Oil, Gas & Consumable Fuels — 12.0%*** | ***Oil, Gas & Consumable Fuels — 12.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | 929 |  | 263613 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | 49580 |  | 10258102 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 61108 |  | 8066256 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | 19923 |  | 700094 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 27320 |  | 1374742 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | 9017 |  | 1783472 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | 26723 |  | 3863344 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | 7594 |  | 483282 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 138879 |  | 23562211 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | 471 |  | 29386 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | 75243 |  | 2522898 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 21915 |  | 5351205 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 38793 |  | 2521545 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. | 21376 |  | 1932177 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | 11349 |  | 2067561 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 13001 |  | 3212287 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. (The) | 20936 |  | 1523722 |
|  |  |  | 69515897 |
| ***Passenger Airlines — 0.8%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Delta Air Lines, Inc. | 37883 |  | 2518462 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 18667 |  | 701319 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc. \* | 17600 |  | 1620432 |
|  |  |  | 4840213 |
| ***Personal Products — 0.3%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | 113017 |  | 1948413 |
| ***Pharmaceuticals — 5.2%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 51925 |  | 3149251 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC \* | 4230 |  | 799682 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 65364 |  | 15977576 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | 36097 |  | 4342108 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | 209620 |  | 5886130 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. | 3308 |  | 44691 |
|  |  |  | 30199438 |
| ***Professional Services — 0.7%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. | 2560 |  | 460979 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions, Inc. | 4173 |  | 531140 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | 16200 |  | 2519424 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies Holdings, Inc. | 7467 |  | 504545 |
|  |  |  | 4016088 |
| ***Real Estate Management & Development — 0.5%*** | ***Real Estate Management & Development — 0.5%*** | ***Real Estate Management & Development — 0.5%*** | ***Real Estate Management & Development — 0.5%*** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A \* | 19100 |  | 2587286 |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc. \* | 1211 |  | 368531 |
|  |  |  | 2955817 |
| ***Semiconductors & Semiconductor Equipment — 5.4%*** | ***Semiconductors & Semiconductor Equipment — 5.4%*** | ***Semiconductors & Semiconductor Equipment — 5.4%*** | ***Semiconductors & Semiconductor Equipment — 5.4%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc. \* | 12020 |  | 2445229 |
| &nbsp;&nbsp;&nbsp;&nbsp;Analog Devices, Inc. | 12440 |  | 3957662 |
| &nbsp;&nbsp;&nbsp;&nbsp;First Solar, Inc. \* | 843 |  | 166290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intel Corp. \* | 68056 |  | 3003311 |
| &nbsp;&nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | 6371 |  | 631047 |
| &nbsp;&nbsp;&nbsp;&nbsp;Micron Technology, Inc. | 42701 |  | 14426106 |
| &nbsp;&nbsp;&nbsp;&nbsp;NXP Semiconductors NV | 11238 |  | 2212313 |
| &nbsp;&nbsp;&nbsp;&nbsp;ON Semiconductor Corp. \* | 10923 |  | 676352 |
| &nbsp;&nbsp;&nbsp;&nbsp;Qnity Electronics, Inc. | 5456 |  | 629513 |
| &nbsp;&nbsp;&nbsp;&nbsp;Qorvo, Inc. \* | 8449 |  | 653953 |
| &nbsp;&nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | 18205 |  | 2344440 |
| &nbsp;&nbsp;&nbsp;&nbsp;Skyworks Solutions, Inc. | 2266 |  | 121344 |
|  |  |  | 31267560 |
| ***Software — 0.7%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | 3129 |  | 58919 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Software (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | 1163 | $411539 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | 19631 | 3664519 |
| &nbsp;&nbsp;&nbsp;Zoom Communications, Inc. \* | 1437 | 115520 |
|  |  | 4250497 |
| ***Specialty Retail — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. @ | 1230 | 243897 |
| ***Textiles, Apparel & Luxury Goods — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | 1375 | 72627 |
| ***Trading Companies & Distributors — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | 2996 | 2182766 |
| ***Wireless Telecommunication Services — 0.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;T-Mobile U.S., Inc. | 20225 | 4247857 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCKS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $316,453,030) |  | 576242160 |
| **SHORT-TERM INVESTMENTS — 0.2%** | **SHORT-TERM INVESTMENTS — 0.2%** | **SHORT-TERM INVESTMENTS — 0.2%** |
| ***Investment Company — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% | 942152 | 942152 |
| ***Collateral For Securities On Loan — 0.0%*** | ***Collateral For Securities On Loan — 0.0%*** | ***Collateral For Securities On Loan — 0.0%*** |
| &nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Government Money Market Portfolio 3.680% | 85759 | 85759 |
| &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $1,027,911) |  | 1027911 |
| **Total Investments — 99.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Identified Cost $317,480,941)** |  | **577270071** |
| &nbsp;&nbsp;&nbsp;Cash and Other Assets, Less Liabilities — 0.2% |  | 909355 |
| **Net Assets — 100.0%** |  | $**578179426** |

---

---

| | |
|:---|:---|
| † | See Note 1 |
| \* | Non-income producing security |
| @ | A portion or all of the security was held on loan. As of March 31, 2026, the fair value of the securities on loan was $1,189,478. |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS — 99.7%** |  |  |
| ***Aerospace & Defense — 3.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;AAR Corp. \* | 3108 | $340202 |
| &nbsp;&nbsp;&nbsp;AeroVironment, Inc. \* | 1825 | 334066 |
| &nbsp;&nbsp;&nbsp;Astronics Corp., Class B \* | 693 | 46254 |
| &nbsp;&nbsp;&nbsp;ATI, Inc. \* | 13573 | 1974329 |
| &nbsp;&nbsp;&nbsp;BWX Technologies, Inc. | 3927 | 803032 |
| &nbsp;&nbsp;&nbsp;Carpenter Technology Corp. | 3912 | 1541915 |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright Corp. | 1197 | 815301 |
| &nbsp;&nbsp;&nbsp;Ducommun, Inc. \* | 1489 | 181658 |
| &nbsp;&nbsp;&nbsp;Hexcel Corp. | 3842 | 310933 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. | 177 | 67242 |
| &nbsp;&nbsp;&nbsp;Innovative Solutions & Support, Inc. \* | 3248 | 66681 |
| &nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions, Inc. \* | 11721 | 826448 |
| &nbsp;&nbsp;&nbsp;Leonardo DRS, Inc. | 1346 | 59924 |
| &nbsp;&nbsp;&nbsp;Mercury Systems, Inc. \* | 4277 | 311836 |
| &nbsp;&nbsp;&nbsp;Moog, Inc., Class A | 2730 | 798907 |
| &nbsp;&nbsp;&nbsp;National Presto Industries, Inc. | 369 | 50575 |
| &nbsp;&nbsp;&nbsp;Park Aerospace Corp. | 1334 | 36525 |
| &nbsp;&nbsp;&nbsp;V2X, Inc. \* | 1491 | 102134 |
| &nbsp;&nbsp;&nbsp;VSE Corp. | 1412 | 260373 |
| &nbsp;&nbsp;&nbsp;Woodward, Inc. | 4022 | 1439554 |
|  |  | 10367889 |
| ***Air Freight & Logistics — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;HUB Group, Inc., Class A | 5418 | 195265 |
| &nbsp;&nbsp;&nbsp;Radiant Logistics, Inc. \* | 6146 | 43329 |
|  |  | 238594 |
| ***Automobile Components — 1.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Adient PLC \* | 4818 | 97372 |
| &nbsp;&nbsp;&nbsp;Autoliv, Inc. | 6598 | 693846 |
| &nbsp;&nbsp;&nbsp;BorgWarner, Inc. | 15123 | 820574 |
| &nbsp;&nbsp;&nbsp;Cooper-Standard Holdings, Inc. \* | 1153 | 32134 |
| &nbsp;&nbsp;&nbsp;Dana, Inc. | 8268 | 278218 |
| &nbsp;&nbsp;&nbsp;Dauch Corp. \* | 8589 | 50933 |
| &nbsp;&nbsp;&nbsp;Dorman Products, Inc. \* | 2645 | 276032 |
| &nbsp;&nbsp;&nbsp;Fox Factory Holding Corp. \* | 4601 | 75732 |
| &nbsp;&nbsp;&nbsp;Garrett Motion, Inc. | 7655 | 139091 |
| &nbsp;&nbsp;&nbsp;Gentex Corp. | 10395 | 227131 |
| &nbsp;&nbsp;&nbsp;Gentherm, Inc. \* | 3773 | 104814 |
| &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co. (The) \* | 16362 | 108480 |
| &nbsp;&nbsp;&nbsp;Holley, Inc. \* | 3600 | 11052 |
| &nbsp;&nbsp;&nbsp;LCI Industries | 2757 | 339056 |
| &nbsp;&nbsp;&nbsp;Lear Corp. | 2432 | 294467 |
| &nbsp;&nbsp;&nbsp;Motorcar Parts of America, Inc. \* | 2267 | 25073 |
| &nbsp;&nbsp;&nbsp;Patrick Industries, Inc. | 2988 | 331877 |
| &nbsp;&nbsp;&nbsp;Phinia, Inc. | 3024 | 206963 |
| &nbsp;&nbsp;&nbsp;Solid Power, Inc. \* | 8889 | 26667 |
| &nbsp;&nbsp;&nbsp;Standard Motor Products, Inc. | 2639 | 91679 |
| &nbsp;&nbsp;&nbsp;Stoneridge, Inc. \* | 2727 | 13171 |
| &nbsp;&nbsp;&nbsp;Strattec Security Corp. \* | 941 | 73718 |
| &nbsp;&nbsp;&nbsp;Visteon Corp. | 2696 | 245633 |
| &nbsp;&nbsp;&nbsp;XPEL, Inc. \* | 1140 | 50456 |
|  |  | 4614169 |
| ***Automobiles — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Harley-Davidson, Inc. | 7071 | 142976 |
| &nbsp;&nbsp;&nbsp;Thor Industries, Inc. @ | 1781 | 142284 |
| &nbsp;&nbsp;&nbsp;Winnebago Industries, Inc. | 3191 | 98889 |
|  |  | 384149 |
| ***Beverages — 0.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Boston Beer Co., Inc. (The), Class A \* | 546 | 125798 |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp., Class B @ | 1383 | 36566 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated, Inc. | 6546 | 1255130 |
| &nbsp;&nbsp;&nbsp;MGP Ingredients, Inc. | 1851 | 34040 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co., Class B | 9730 | 418974 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;National Beverage Corp. \* | 6380 | $214687 |
| &nbsp;&nbsp;&nbsp;Vita Coco Co., Inc. (The) \* | 2426 | 116230 |
|  |  | 2201425 |
| ***Biotechnology — 2.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;4D Molecular Therapeutics, Inc. \* | 1214 | 11302 |
| &nbsp;&nbsp;&nbsp;ADMA Biologics, Inc. \* | 9853 | 88776 |
| &nbsp;&nbsp;&nbsp;Agios Pharmaceuticals, Inc. \* | 3495 | 118236 |
| &nbsp;&nbsp;&nbsp;Albireo Pharma, Inc. CVR \*¶§ | 1018 | 2436 |
| &nbsp;&nbsp;&nbsp;Aldeyra Therapeutics, Inc. \* | 3971 | 6711 |
| &nbsp;&nbsp;&nbsp;Alkermes PLC \* | 5522 | 195258 |
| &nbsp;&nbsp;&nbsp;Allogene Therapeutics, Inc. \* | 8990 | 21936 |
| &nbsp;&nbsp;&nbsp;Altimmune, Inc. \* | 4035 | 12428 |
| &nbsp;&nbsp;&nbsp;Anika Therapeutics, Inc. \* | 1795 | 26027 |
| &nbsp;&nbsp;&nbsp;Apellis Pharmaceuticals, Inc. \* | 6771 | 272397 |
| &nbsp;&nbsp;&nbsp;Arcus Biosciences, Inc. \* | 2904 | 62726 |
| &nbsp;&nbsp;&nbsp;ArriVent Biopharma, Inc. \* | 1251 | 28861 |
| &nbsp;&nbsp;&nbsp;Aura Biosciences, Inc. \* | 1708 | 11427 |
| &nbsp;&nbsp;&nbsp;Beam Therapeutics, Inc. \*@ | 6430 | 153227 |
| &nbsp;&nbsp;&nbsp;BioCryst Pharmaceuticals, Inc. \* | 8782 | 83605 |
| &nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical, Inc. \* | 4125 | 233021 |
| &nbsp;&nbsp;&nbsp;CareDx, Inc. \* | 2881 | 50014 |
| &nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals, Inc. \* | 6761 | 167402 |
| &nbsp;&nbsp;&nbsp;Celldex Therapeutics, Inc. \* | 3625 | 114985 |
| &nbsp;&nbsp;&nbsp;CG oncology, Inc. \* | 893 | 60438 |
| &nbsp;&nbsp;&nbsp;Chinook Therapeutics, Inc. CVR \*¶§ | 5000 | 1875 |
| &nbsp;&nbsp;&nbsp;Compass Therapeutics, Inc. \* | 2297 | 12151 |
| &nbsp;&nbsp;&nbsp;CRISPR Therapeutics AG \*@ | 1621 | 77111 |
| &nbsp;&nbsp;&nbsp;Cullinan Therapeutics, Inc. \* | 2908 | 41323 |
| &nbsp;&nbsp;&nbsp;CytomX Therapeutics, Inc. \* | 8821 | 41459 |
| &nbsp;&nbsp;&nbsp;Day One Biopharmaceuticals, Inc. \* | 3462 | 74225 |
| &nbsp;&nbsp;&nbsp;Denali Therapeutics, Inc. \* | 9561 | 183571 |
| &nbsp;&nbsp;&nbsp;Design Therapeutics, Inc. \* | 1060 | 11278 |
| &nbsp;&nbsp;&nbsp;Dianthus Therapeutics, Inc. \* | 1115 | 93571 |
| &nbsp;&nbsp;&nbsp;Disc Medicine, Inc. \* | 1703 | 108890 |
| &nbsp;&nbsp;&nbsp;Dyne Therapeutics, Inc. \* | 4215 | 76418 |
| &nbsp;&nbsp;&nbsp;Emergent BioSolutions, Inc. \* | 981 | 8142 |
| &nbsp;&nbsp;&nbsp;Entrada Therapeutics, Inc. \* | 893 | 11270 |
| &nbsp;&nbsp;&nbsp;Exelixis, Inc. \* | 19780 | 848364 |
| &nbsp;&nbsp;&nbsp;GRAIL, Inc. \* | 1745 | 90182 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc. \* | 8219 | 531194 |
| &nbsp;&nbsp;&nbsp;Ideaya Biosciences, Inc. \* | 5822 | 193989 |
| &nbsp;&nbsp;&nbsp;Intellia Therapeutics, Inc. \*@ | 7017 | 89958 |
| &nbsp;&nbsp;&nbsp;Iovance Biotherapeutics, Inc. \* | 17412 | 61116 |
| &nbsp;&nbsp;&nbsp;Kiniksa Pharmaceuticals International PLC \* | 2132 | 102656 |
| &nbsp;&nbsp;&nbsp;Krystal Biotech, Inc. \* | 1598 | 412795 |
| &nbsp;&nbsp;&nbsp;Kura Oncology, Inc. \* | 2828 | 22992 |
| &nbsp;&nbsp;&nbsp;Kymera Therapeutics, Inc. \* | 2801 | 233295 |
| &nbsp;&nbsp;&nbsp;Larimar Therapeutics, Inc. \* | 4671 | 21019 |
| &nbsp;&nbsp;&nbsp;Lexeo Therapeutics, Inc. \* | 2615 | 15010 |
| &nbsp;&nbsp;&nbsp;Mirati Therapeutics, Inc. CVR \*¶§ | 1395 | 1559 |
| &nbsp;&nbsp;&nbsp;Monte Rosa Therapeutics, Inc. \* | 4065 | 66869 |
| &nbsp;&nbsp;&nbsp;Myriad Genetics, Inc. \* | 5149 | 23170 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc. \* | 7426 | 978301 |
| &nbsp;&nbsp;&nbsp;Nurix Therapeutics, Inc. \* | 4280 | 66340 |
| &nbsp;&nbsp;&nbsp;Olema Pharmaceuticals, Inc. \* | 4193 | 62518 |
| &nbsp;&nbsp;&nbsp;Organogenesis Holdings, Inc. \* | 8051 | 19081 |
| &nbsp;&nbsp;&nbsp;ORIC Pharmaceuticals, Inc. \* | 4368 | 55343 |
| &nbsp;&nbsp;&nbsp;Oruka Therapeutics, Inc. \* | 1616 | 79265 |
| &nbsp;&nbsp;&nbsp;PDL BioPharma, Inc. \*§ | 18262 | 5479 |
| &nbsp;&nbsp;&nbsp;Perspective Therapeutics, Inc. \*@ | 5035 | 20996 |
| &nbsp;&nbsp;&nbsp;Prime Medicine, Inc. \* | 2888 | 10050 |
| &nbsp;&nbsp;&nbsp;Protara Therapeutics, Inc. \* | 1836 | 9566 |
| &nbsp;&nbsp;&nbsp;Prothena Corp. PLC \* | 2478 | 24086 |
| &nbsp;&nbsp;&nbsp;PTC Therapeutics, Inc. \* | 188 | 12808 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Biotechnology (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Puma Biotechnology, Inc. \* | 1521 | $9719 |
| &nbsp;&nbsp;&nbsp;REGENXBIO, Inc. \* | 910 | 7626 |
| &nbsp;&nbsp;&nbsp;Relay Therapeutics, Inc. \* | 9607 | 95590 |
| &nbsp;&nbsp;&nbsp;Replimune Group, Inc. \* | 2069 | 15828 |
| &nbsp;&nbsp;&nbsp;Rocket Pharmaceuticals, Inc. \* | 5571 | 19944 |
| &nbsp;&nbsp;&nbsp;Sana Biotechnology, Inc. \* | 3913 | 11269 |
| &nbsp;&nbsp;&nbsp;Shattuck Labs, Inc. \* | 4381 | 28170 |
| &nbsp;&nbsp;&nbsp;Solid Biosciences, Inc. \* | 3329 | 23969 |
| &nbsp;&nbsp;&nbsp;Stoke Therapeutics, Inc. \* | 3623 | 117965 |
| &nbsp;&nbsp;&nbsp;Twist Bioscience Corp. \* | 2125 | 100980 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp. \* | 2637 | 1563688 |
| &nbsp;&nbsp;&nbsp;Upstream Bio, Inc. \* | 1259 | 11331 |
| &nbsp;&nbsp;&nbsp;Vanda Pharmaceuticals, Inc. \* | 2932 | 20260 |
| &nbsp;&nbsp;&nbsp;Vera Therapeutics, Inc. \* | 1517 | 61029 |
| &nbsp;&nbsp;&nbsp;Veracyte, Inc. \* | 4897 | 157732 |
| &nbsp;&nbsp;&nbsp;Vericel Corp. \* | 2570 | 82677 |
| &nbsp;&nbsp;&nbsp;Vir Biotechnology, Inc. \* | 10251 | 91849 |
| &nbsp;&nbsp;&nbsp;Xencor, Inc. \* | 3831 | 46202 |
|  |  | 8986326 |
| ***Broadline Retail — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;Dillard's, Inc., Class A @ | 780 | 446246 |
| &nbsp;&nbsp;&nbsp;Etsy, Inc. \* | 1032 | 51579 |
| &nbsp;&nbsp;&nbsp;Kohl's Corp. | 6170 | 79593 |
| &nbsp;&nbsp;&nbsp;Macy's, Inc. | 9741 | 176215 |
| &nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings, Inc. \* | 3753 | 345426 |
| &nbsp;&nbsp;&nbsp;Savers Value Village, Inc. \* | 5650 | 42036 |
|  |  | 1141095 |
| ***Building Products — 2.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;A.O. Smith Corp. | 8970 | 591482 |
| &nbsp;&nbsp;&nbsp;AAON, Inc. @ | 4843 | 400758 |
| &nbsp;&nbsp;&nbsp;Advanced Drainage Systems, Inc. | 7209 | 988570 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | 1427 | 207329 |
| &nbsp;&nbsp;&nbsp;American Woodmark Corp. \* | 982 | 39113 |
| &nbsp;&nbsp;&nbsp;Apogee Enterprises, Inc. | 1456 | 48834 |
| &nbsp;&nbsp;&nbsp;Armstrong World Industries, Inc. | 4365 | 719352 |
| &nbsp;&nbsp;&nbsp;AZZ, Inc. | 2363 | 295682 |
| &nbsp;&nbsp;&nbsp;CSW Industrials, Inc. | 1174 | 305921 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Innovations, Inc. | 961 | 37450 |
| &nbsp;&nbsp;&nbsp;Gibraltar Industries, Inc. \* | 3042 | 121285 |
| &nbsp;&nbsp;&nbsp;Insteel Industries, Inc. | 2278 | 76564 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | 5470 | 330224 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing Co. \* | 4578 | 992098 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 6683 | 723234 |
| &nbsp;&nbsp;&nbsp;Quanex Building Products Corp. | 3350 | 60199 |
| &nbsp;&nbsp;&nbsp;Resideo Technologies, Inc. \* | 681 | 22957 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | 3582 | 614743 |
| &nbsp;&nbsp;&nbsp;Trex Co., Inc. \* | 9328 | 339726 |
| &nbsp;&nbsp;&nbsp;UFP Industries, Inc. | 4990 | 459679 |
| &nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions Corp. | 14150 | 634486 |
|  |  | 8009686 |
| ***Capital Markets — 3.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Acadian Asset Management, Inc. | 2826 | 153791 |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group, Inc. | 3775 | 1044542 |
| &nbsp;&nbsp;&nbsp;Artisan Partners Asset Management, Inc., Class A | 6206 | 225836 |
| &nbsp;&nbsp;&nbsp;BGC Group, Inc., Class A | 30567 | 298945 |
| &nbsp;&nbsp;&nbsp;Cohen & Steers, Inc. | 5127 | 320694 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Diamond Hill Investment Group, Inc. | 204 | $35108 |
| &nbsp;&nbsp;&nbsp;DigitalBridge Group, Inc. | 2242 | 34572 |
| &nbsp;&nbsp;&nbsp;Donnelley Financial Solutions, Inc. \* | 2776 | 130861 |
| &nbsp;&nbsp;&nbsp;Evercore, Inc., Class A | 3349 | 999710 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc. | 633 | 137355 |
| &nbsp;&nbsp;&nbsp;Federated Hermes, Inc. | 7863 | 445911 |
| &nbsp;&nbsp;&nbsp;Franklin Resources, Inc. | 3815 | 90110 |
| &nbsp;&nbsp;&nbsp;Hamilton Lane, Inc., Class A | 1792 | 178125 |
| &nbsp;&nbsp;&nbsp;Houlihan Lokey, Inc. | 1002 | 143907 |
| &nbsp;&nbsp;&nbsp;Invesco Ltd. | 21232 | 515725 |
| &nbsp;&nbsp;&nbsp;Janus Henderson Group PLC | 11391 | 585156 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. | 21621 | 892299 |
| &nbsp;&nbsp;&nbsp;Lazard, Inc. | 6742 | 286400 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings, Inc. | 710 | 117136 |
| &nbsp;&nbsp;&nbsp;Moelis & Co., Class A | 571 | 32547 |
| &nbsp;&nbsp;&nbsp;Morningstar, Inc. | 2847 | 481285 |
| &nbsp;&nbsp;&nbsp;Oppenheimer Holdings, Inc., Class A | 1244 | 110952 |
| &nbsp;&nbsp;&nbsp;Perella Weinberg Partners @ | 705 | 12803 |
| &nbsp;&nbsp;&nbsp;Piper Sandler Cos. | 6528 | 499718 |
| &nbsp;&nbsp;&nbsp;PJT Partners, Inc., Class A | 1422 | 198682 |
| &nbsp;&nbsp;&nbsp;SEI Investments Co. | 4732 | 371320 |
| &nbsp;&nbsp;&nbsp;Silvercrest Asset Management Group, Inc., Class A | 759 | 10201 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | 9255 | 684130 |
| &nbsp;&nbsp;&nbsp;StoneX Group, Inc. \* | 6420 | 517773 |
| &nbsp;&nbsp;&nbsp;Victory Capital Holdings, Inc., Class A | 982 | 64301 |
| &nbsp;&nbsp;&nbsp;Virtu Financial, Inc., Class A | 3211 | 141220 |
| &nbsp;&nbsp;&nbsp;Virtus Investment Partners, Inc. | 608 | 81685 |
| &nbsp;&nbsp;&nbsp;Westwood Holdings Group, Inc. | 1157 | 19056 |
| &nbsp;&nbsp;&nbsp;WisdomTree, Inc. @ | 8317 | 121095 |
|  |  | 9982951 |
| ***Chemicals — 2.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;AdvanSix, Inc. | 1777 | 43359 |
| &nbsp;&nbsp;&nbsp;Alto Ingredients, Inc. \* | 2281 | 11040 |
| &nbsp;&nbsp;&nbsp;Ashland, Inc. | 2847 | 158322 |
| &nbsp;&nbsp;&nbsp;Avient Corp. | 10014 | 363508 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems Ltd. \* | 16030 | 444031 |
| &nbsp;&nbsp;&nbsp;Balchem Corp. | 2794 | 473527 |
| &nbsp;&nbsp;&nbsp;Cabot Corp. | 5463 | 411419 |
| &nbsp;&nbsp;&nbsp;Celanese Corp. | 1157 | 76096 |
| &nbsp;&nbsp;&nbsp;Chemours Co. (The) | 6762 | 148967 |
| &nbsp;&nbsp;&nbsp;Core Molding Technologies, Inc. \* | 1500 | 33600 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 3373 | 257427 |
| &nbsp;&nbsp;&nbsp;Ecovyst, Inc. \* | 5086 | 65406 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. | 21963 | 749817 |
| &nbsp;&nbsp;&nbsp;Flotek Industries, Inc. \*@ | 1419 | 24080 |
| &nbsp;&nbsp;&nbsp;Hawkins, Inc. | 1779 | 273254 |
| &nbsp;&nbsp;&nbsp;HB Fuller Co. | 5803 | 357929 |
| &nbsp;&nbsp;&nbsp;Huntsman Corp. | 11979 | 159440 |
| &nbsp;&nbsp;&nbsp;Ingevity Corp. \* | 1259 | 89679 |
| &nbsp;&nbsp;&nbsp;Innospec, Inc. | 2148 | 156847 |
| &nbsp;&nbsp;&nbsp;Intrepid Potash, Inc. \* | 556 | 23780 |
| &nbsp;&nbsp;&nbsp;Koppers Holdings, Inc. | 2308 | 89273 |
| &nbsp;&nbsp;&nbsp;Kronos Worldwide, Inc. | 2292 | 15058 |
| &nbsp;&nbsp;&nbsp;LSB Industries, Inc. \* | 3400 | 50660 |
| &nbsp;&nbsp;&nbsp;Mativ Holdings, Inc. | 3615 | 31451 |
| &nbsp;&nbsp;&nbsp;Minerals Technologies, Inc. | 3081 | 218505 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. (The) | 9271 | 236410 |
| &nbsp;&nbsp;&nbsp;NewMarket Corp. | 504 | 323039 |
| &nbsp;&nbsp;&nbsp;Olin Corp. | 6941 | 206356 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Chemicals (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Perimeter Solutions, Inc. \* | 6857 | $167448 |
| &nbsp;&nbsp;&nbsp;Quaker Chemical Corp. | 1113 | 138268 |
| &nbsp;&nbsp;&nbsp;Rayonier Advanced Materials, Inc. \* | 3612 | 39985 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | 4352 | 432589 |
| &nbsp;&nbsp;&nbsp;Scotts Miracle-Gro Co. (The) | 1456 | 88539 |
| &nbsp;&nbsp;&nbsp;Sensient Technologies Corp. | 4568 | 394858 |
| &nbsp;&nbsp;&nbsp;Stepan Co. | 2418 | 120852 |
| &nbsp;&nbsp;&nbsp;Tronox Holdings PLC | 6681 | 65273 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. @ | 136 | 15888 |
|  |  | 6955980 |
| ***Commercial Banks — 10.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;1st Source Corp. | 2546 | 176209 |
| &nbsp;&nbsp;&nbsp;ACNB Corp. | 300 | 14361 |
| &nbsp;&nbsp;&nbsp;Amalgamated Financial Corp. | 1892 | 73542 |
| &nbsp;&nbsp;&nbsp;Amerant Bancorp, Inc. | 1581 | 34845 |
| &nbsp;&nbsp;&nbsp;Ameris Bancorp | 7199 | 561450 |
| &nbsp;&nbsp;&nbsp;AmeriServ Financial, Inc. | 4400 | 15928 |
| &nbsp;&nbsp;&nbsp;Arrow Financial Corp. | 2279 | 76506 |
| &nbsp;&nbsp;&nbsp;Associated Banc-Corp. | 15176 | 392451 |
| &nbsp;&nbsp;&nbsp;Atlantic Union Bankshares Corp. | 9016 | 322232 |
| &nbsp;&nbsp;&nbsp;Axos Financial, Inc. \* | 3826 | 325554 |
| &nbsp;&nbsp;&nbsp;Banc of California, Inc. | 8918 | 156778 |
| &nbsp;&nbsp;&nbsp;BancFirst Corp. | 3303 | 358375 |
| &nbsp;&nbsp;&nbsp;Bancorp, Inc. (The) \* | 4087 | 219595 |
| &nbsp;&nbsp;&nbsp;Bank First Corp. | 663 | 89545 |
| &nbsp;&nbsp;&nbsp;Bank of Hawaii Corp. | 3456 | 256608 |
| &nbsp;&nbsp;&nbsp;Bank of Marin Bancorp | 1580 | 40495 |
| &nbsp;&nbsp;&nbsp;Bank of NT Butterfield & Son Ltd. (The) | 2495 | 130938 |
| &nbsp;&nbsp;&nbsp;Bank OZK | 4569 | 209671 |
| &nbsp;&nbsp;&nbsp;BankUnited, Inc. | 4944 | 223271 |
| &nbsp;&nbsp;&nbsp;Bankwell Financial Group, Inc. | 326 | 15818 |
| &nbsp;&nbsp;&nbsp;Banner Corp. | 3355 | 203581 |
| &nbsp;&nbsp;&nbsp;Bar Harbor Bankshares | 2089 | 67788 |
| &nbsp;&nbsp;&nbsp;Beacon Financial Corp. | 6309 | 189270 |
| &nbsp;&nbsp;&nbsp;Blue Foundry Bancorp \* | 1516 | 20072 |
| &nbsp;&nbsp;&nbsp;Blue Ridge Bankshares, Inc. | 2500 | 10500 |
| &nbsp;&nbsp;&nbsp;BOK Financial Corp. | 4648 | 595223 |
| &nbsp;&nbsp;&nbsp;Bridgewater Bancshares, Inc. \* | 700 | 12390 |
| &nbsp;&nbsp;&nbsp;Burke & Herbert Financial Services Corp. | 895 | 55750 |
| &nbsp;&nbsp;&nbsp;Business First Bancshares, Inc. @ | 1726 | 46671 |
| &nbsp;&nbsp;&nbsp;Byline Bancorp, Inc. | 3036 | 95847 |
| &nbsp;&nbsp;&nbsp;C&F Financial Corp. | 466 | 33990 |
| &nbsp;&nbsp;&nbsp;California BanCorp | 1131 | 20041 |
| &nbsp;&nbsp;&nbsp;Camden National Corp. | 1756 | 83322 |
| &nbsp;&nbsp;&nbsp;Capital Bancorp, Inc. | 748 | 22246 |
| &nbsp;&nbsp;&nbsp;Capital City Bank Group, Inc. | 1890 | 82139 |
| &nbsp;&nbsp;&nbsp;Capitol Federal Financial, Inc. | 6134 | 43735 |
| &nbsp;&nbsp;&nbsp;Carter Bankshares, Inc. \* | 711 | 16581 |
| &nbsp;&nbsp;&nbsp;Cathay General Bancorp | 7259 | 361934 |
| &nbsp;&nbsp;&nbsp;Central Pacific Financial Corp. | 3116 | 99587 |
| &nbsp;&nbsp;&nbsp;Chemung Financial Corp. | 205 | 11033 |
| &nbsp;&nbsp;&nbsp;Citizens & Northern Corp. | 852 | 19034 |
| &nbsp;&nbsp;&nbsp;Citizens Community Bancorp, Inc. | 400 | 7920 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | 6184 | 370854 |
| &nbsp;&nbsp;&nbsp;City Holding Co. | 1327 | 158603 |
| &nbsp;&nbsp;&nbsp;Civista Bancshares, Inc. | 760 | 17320 |
| &nbsp;&nbsp;&nbsp;CNB Financial Corp. | 3887 | 112568 |
| &nbsp;&nbsp;&nbsp;Coastal Financial Corp. \* | 847 | 64457 |
| &nbsp;&nbsp;&nbsp;Colony Bankcorp, Inc. | 1080 | 21568 |
| &nbsp;&nbsp;&nbsp;Columbia Banking System, Inc. | 4733 | 129826 |
| &nbsp;&nbsp;&nbsp;Columbia Financial, Inc. \* | 5756 | 100788 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | 9924 | 488261 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Community Financial System, Inc. | 4718 | $276711 |
| &nbsp;&nbsp;&nbsp;Community Trust Bancorp, Inc. | 1552 | 94237 |
| &nbsp;&nbsp;&nbsp;Community West Bancshares | 1638 | 38165 |
| &nbsp;&nbsp;&nbsp;ConnectOne Bancorp, Inc. | 4072 | 109007 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | 3828 | 524742 |
| &nbsp;&nbsp;&nbsp;Customers Bancorp, Inc. \* | 3713 | 257719 |
| &nbsp;&nbsp;&nbsp;CVB Financial Corp. @ | 13166 | 255289 |
| &nbsp;&nbsp;&nbsp;Dime Community Bancshares, Inc. | 3168 | 107142 |
| &nbsp;&nbsp;&nbsp;Eagle Bancorp, Inc. | 1461 | 36335 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | 9740 | 1039842 |
| &nbsp;&nbsp;&nbsp;Eastern Bankshares, Inc. | 4278 | 83678 |
| &nbsp;&nbsp;&nbsp;Enterprise Financial Services Corp. | 2901 | 156973 |
| &nbsp;&nbsp;&nbsp;Equity Bancshares, Inc., Class A | 1470 | 65283 |
| &nbsp;&nbsp;&nbsp;Esquire Financial Holdings, Inc. | 569 | 61167 |
| &nbsp;&nbsp;&nbsp;Farmers & Merchants Bancorp, Inc. | 1205 | 30932 |
| &nbsp;&nbsp;&nbsp;Farmers National Banc Corp. | 3971 | 52258 |
| &nbsp;&nbsp;&nbsp;FB Financial Corp. | 3315 | 172181 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 5231 | 243032 |
| &nbsp;&nbsp;&nbsp;Financial Institutions, Inc. | 1855 | 58822 |
| &nbsp;&nbsp;&nbsp;First BanCorp | 3381 | 190519 |
| &nbsp;&nbsp;&nbsp;First BanCorp | 18672 | 398834 |
| &nbsp;&nbsp;&nbsp;First BanCorp, Inc. (The) | 1876 | 52584 |
| &nbsp;&nbsp;&nbsp;First Busey Corp. | 5571 | 140779 |
| &nbsp;&nbsp;&nbsp;First Business Financial Services, Inc. | 551 | 29715 |
| &nbsp;&nbsp;&nbsp;First Commonwealth Financial Corp. | 9286 | 163248 |
| &nbsp;&nbsp;&nbsp;First Community Bankshares, Inc. | 1982 | 82293 |
| &nbsp;&nbsp;&nbsp;First Community Corp. | 358 | 10464 |
| &nbsp;&nbsp;&nbsp;First Financial Bancorp | 8992 | 250697 |
| &nbsp;&nbsp;&nbsp;First Financial Bankshares, Inc. | 14820 | 436449 |
| &nbsp;&nbsp;&nbsp;First Financial Corp. | 1395 | 88164 |
| &nbsp;&nbsp;&nbsp;First Foundation, Inc. \* | 1700 | 10030 |
| &nbsp;&nbsp;&nbsp;First Hawaiian, Inc. | 7925 | 195272 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | 28413 | 646680 |
| &nbsp;&nbsp;&nbsp;First Interstate Bancsystem, Inc., Class A | 6510 | 217434 |
| &nbsp;&nbsp;&nbsp;First Merchants Corp. | 5621 | 217701 |
| &nbsp;&nbsp;&nbsp;First Mid Bancshares, Inc. | 1116 | 45968 |
| &nbsp;&nbsp;&nbsp;Firstsun Capital Bancorp \* | 1012 | 36898 |
| &nbsp;&nbsp;&nbsp;Five Star Bancorp | 1082 | 40813 |
| &nbsp;&nbsp;&nbsp;Flagstar Bank NA | 1739 | 22903 |
| &nbsp;&nbsp;&nbsp;Flushing Financial Corp. | 3899 | 59889 |
| &nbsp;&nbsp;&nbsp;FNB Corp. | 22576 | 377471 |
| &nbsp;&nbsp;&nbsp;FS Bancorp, Inc. | 962 | 37124 |
| &nbsp;&nbsp;&nbsp;Fulton Financial Corp. | 15678 | 318891 |
| &nbsp;&nbsp;&nbsp;German American Bancorp, Inc. | 3217 | 134438 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp, Inc. | 11842 | 528982 |
| &nbsp;&nbsp;&nbsp;Great Southern Bancorp, Inc. | 1275 | 80491 |
| &nbsp;&nbsp;&nbsp;Hancock Whitney Corp. | 6503 | 413526 |
| &nbsp;&nbsp;&nbsp;Hanmi Financial Corp. | 3586 | 94527 |
| &nbsp;&nbsp;&nbsp;HBT Financial, Inc. | 854 | 22819 |
| &nbsp;&nbsp;&nbsp;Heritage Commerce Corp. | 3576 | 44628 |
| &nbsp;&nbsp;&nbsp;Heritage Financial Corp. | 4162 | 108212 |
| &nbsp;&nbsp;&nbsp;Hilltop Holdings, Inc. | 4251 | 152271 |
| &nbsp;&nbsp;&nbsp;Hingham Institution For Savings (The) | 236 | 67458 |
| &nbsp;&nbsp;&nbsp;Home Bancorp, Inc. | 994 | 60217 |
| &nbsp;&nbsp;&nbsp;Home BancShares, Inc. | 13006 | 350252 |
| &nbsp;&nbsp;&nbsp;HomeTrust Bancshares, Inc. | 2255 | 96176 |
| &nbsp;&nbsp;&nbsp;Hope Bancorp, Inc. | 12794 | 142909 |
| &nbsp;&nbsp;&nbsp;Horizon Bancorp, Inc. | 3103 | 51417 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | 27746 | 434225 |
| &nbsp;&nbsp;&nbsp;Independent Bank Corp. | 4056 | 305052 |
| &nbsp;&nbsp;&nbsp;Independent Bank Corp. | 1028 | 34232 |
| &nbsp;&nbsp;&nbsp;International Bancshares Corp. | 5903 | 397213 |
| &nbsp;&nbsp;&nbsp;Investar Holding Corp. | 396 | 10799 |
| &nbsp;&nbsp;&nbsp;Kearny Financial Corp. | 4719 | 35628 |
| &nbsp;&nbsp;&nbsp;Lakeland Financial Corp. | 2447 | 140409 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Commercial Banks (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Live Oak Bancshares, Inc. | 2801 | $92629 |
| &nbsp;&nbsp;&nbsp;Mechanics Bancorp, Class A | 1747 | 25768 |
| &nbsp;&nbsp;&nbsp;Mercantile Bank Corp. | 1601 | 80850 |
| &nbsp;&nbsp;&nbsp;Metrocity Bankshares, Inc. | 760 | 21789 |
| &nbsp;&nbsp;&nbsp;Metropolitan Bank Holding Corp. | 620 | 51640 |
| &nbsp;&nbsp;&nbsp;Mid Penn Bancorp, Inc. | 1093 | 35151 |
| &nbsp;&nbsp;&nbsp;Midland States Bancorp, Inc. | 982 | 21908 |
| &nbsp;&nbsp;&nbsp;MVB Financial Corp. | 494 | 12266 |
| &nbsp;&nbsp;&nbsp;National Bank Holdings Corp., Class A | 3376 | 132204 |
| &nbsp;&nbsp;&nbsp;NB Bancorp, Inc. | 2129 | 44858 |
| &nbsp;&nbsp;&nbsp;NBT Bancorp, Inc. | 4206 | 179091 |
| &nbsp;&nbsp;&nbsp;Nicolet Bankshares, Inc. | 1295 | 192463 |
| &nbsp;&nbsp;&nbsp;Northeast Bank | 896 | 100684 |
| &nbsp;&nbsp;&nbsp;Northeast Community Bancorp, Inc. | 455 | 10829 |
| &nbsp;&nbsp;&nbsp;Northfield Bancorp, Inc. | 5020 | 67971 |
| &nbsp;&nbsp;&nbsp;Northrim BanCorp, Inc. | 3344 | 76511 |
| &nbsp;&nbsp;&nbsp;Northwest Bancshares, Inc. | 15058 | 191086 |
| &nbsp;&nbsp;&nbsp;Norwood Financial Corp. | 337 | 9915 |
| &nbsp;&nbsp;&nbsp;Oak Valley Bancorp | 606 | 19653 |
| &nbsp;&nbsp;&nbsp;OceanFirst Financial Corp. | 4432 | 79953 |
| &nbsp;&nbsp;&nbsp;OFG Bancorp | 4058 | 164187 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | 28203 | 623286 |
| &nbsp;&nbsp;&nbsp;Old Second Bancorp, Inc. | 2809 | 56629 |
| &nbsp;&nbsp;&nbsp;Orange County Bancorp, Inc. | 324 | 10362 |
| &nbsp;&nbsp;&nbsp;Origin Bancorp, Inc. | 1918 | 79520 |
| &nbsp;&nbsp;&nbsp;Orrstown Financial Services, Inc. | 1090 | 39327 |
| &nbsp;&nbsp;&nbsp;Park National Corp. | 1732 | 283095 |
| &nbsp;&nbsp;&nbsp;Parke Bancorp, Inc. | 768 | 21811 |
| &nbsp;&nbsp;&nbsp;Pathward Financial, Inc. | 2146 | 191488 |
| &nbsp;&nbsp;&nbsp;PCB Bancorp | 500 | 11245 |
| &nbsp;&nbsp;&nbsp;Peapack-Gladstone Financial Corp. | 1992 | 70138 |
| &nbsp;&nbsp;&nbsp;Peoples Bancorp, Inc. | 3204 | 105315 |
| &nbsp;&nbsp;&nbsp;Peoples Financial Services Corp. | 417 | 22239 |
| &nbsp;&nbsp;&nbsp;Pinnacle Financial Partners, Inc. | 7088 | 610560 |
| &nbsp;&nbsp;&nbsp;Plumas Bancorp | 413 | 20163 |
| &nbsp;&nbsp;&nbsp;Ponce Financial Group, Inc. \* | 743 | 12416 |
| &nbsp;&nbsp;&nbsp;Popular, Inc. | 7138 | 957705 |
| &nbsp;&nbsp;&nbsp;Preferred Bank | 1186 | 107558 |
| &nbsp;&nbsp;&nbsp;Primis Financial Corp. | 1858 | 24674 |
| &nbsp;&nbsp;&nbsp;Prosperity Bancshares, Inc. | 5491 | 368885 |
| &nbsp;&nbsp;&nbsp;Provident Financial Holdings, Inc. | 1124 | 18119 |
| &nbsp;&nbsp;&nbsp;Provident Financial Services, Inc. | 9168 | 193995 |
| &nbsp;&nbsp;&nbsp;QCR Holdings, Inc. | 1658 | 141676 |
| &nbsp;&nbsp;&nbsp;RBB Bancorp | 483 | 10322 |
| &nbsp;&nbsp;&nbsp;Red River Bancshares, Inc. | 264 | 23876 |
| &nbsp;&nbsp;&nbsp;Renasant Corp. | 6722 | 242866 |
| &nbsp;&nbsp;&nbsp;Republic Bancorp, Inc., Class A | 1997 | 140888 |
| &nbsp;&nbsp;&nbsp;Riverview Bancorp, Inc. | 2557 | 14064 |
| &nbsp;&nbsp;&nbsp;S&T Bancorp, Inc. | 3996 | 167153 |
| &nbsp;&nbsp;&nbsp;Seacoast Banking Corp. of Florida | 6666 | 201913 |
| &nbsp;&nbsp;&nbsp;ServisFirst Bancshares, Inc. | 5630 | 410033 |
| &nbsp;&nbsp;&nbsp;Shore Bancshares, Inc. | 1682 | 31420 |
| &nbsp;&nbsp;&nbsp;Sierra Bancorp | 1529 | 51864 |
| &nbsp;&nbsp;&nbsp;Simmons First National Corp., Class A | 9541 | 185572 |
| &nbsp;&nbsp;&nbsp;Southern First Bancshares, Inc. \* | 923 | 50304 |
| &nbsp;&nbsp;&nbsp;Southern Missouri Bancorp, Inc. | 686 | 43863 |
| &nbsp;&nbsp;&nbsp;Southside Bancshares, Inc. | 3368 | 104711 |
| &nbsp;&nbsp;&nbsp;Southstate Bank Corp. | 8044 | 744231 |
| &nbsp;&nbsp;&nbsp;Stellar Bancorp, Inc. | 2986 | 109317 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Stock Yards Bancorp, Inc. | 2936 | $194627 |
| &nbsp;&nbsp;&nbsp;Texas Capital Bancshares, Inc. \* | 3132 | 297164 |
| &nbsp;&nbsp;&nbsp;TFS Financial Corp. @ | 3750 | 52687 |
| &nbsp;&nbsp;&nbsp;Third Coast Bancshares, Inc. \* | 812 | 30718 |
| &nbsp;&nbsp;&nbsp;Timberland Bancorp, Inc. | 921 | 36315 |
| &nbsp;&nbsp;&nbsp;Tompkins Financial Corp. | 1559 | 122912 |
| &nbsp;&nbsp;&nbsp;Towne Bank | 5809 | 195589 |
| &nbsp;&nbsp;&nbsp;TriCo Bancshares | 2959 | 140671 |
| &nbsp;&nbsp;&nbsp;Triumph Financial, Inc. \* | 2441 | 145630 |
| &nbsp;&nbsp;&nbsp;TrustCo Bank Corp. | 1746 | 76440 |
| &nbsp;&nbsp;&nbsp;Trustmark Corp. | 5770 | 243148 |
| &nbsp;&nbsp;&nbsp;UMB Financial Corp. | 7466 | 842090 |
| &nbsp;&nbsp;&nbsp;United Bankshares, Inc. | 12088 | 500685 |
| &nbsp;&nbsp;&nbsp;United Community Banks, Inc. | 8563 | 269649 |
| &nbsp;&nbsp;&nbsp;Unity Bancorp, Inc. | 360 | 18659 |
| &nbsp;&nbsp;&nbsp;Univest Financial Corp. | 3363 | 115216 |
| &nbsp;&nbsp;&nbsp;USCB Financial Holdings, Inc. | 803 | 14888 |
| &nbsp;&nbsp;&nbsp;Valley National Bancorp | 27653 | 339579 |
| &nbsp;&nbsp;&nbsp;WaFd, Inc. | 6377 | 200238 |
| &nbsp;&nbsp;&nbsp;Washington Trust Bancorp, Inc. | 2001 | 66953 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | 10588 | 735019 |
| &nbsp;&nbsp;&nbsp;WesBanco, Inc. | 8472 | 292199 |
| &nbsp;&nbsp;&nbsp;West BanCorp, Inc. | 1763 | 41942 |
| &nbsp;&nbsp;&nbsp;Westamerica BanCorp | 2658 | 138615 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | 5446 | 385849 |
| &nbsp;&nbsp;&nbsp;Western New England Bancorp, Inc. | 3161 | 40872 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | 5640 | 783622 |
| &nbsp;&nbsp;&nbsp;WSFS Financial Corp. | 6445 | 421890 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | 10151 | 584901 |
|  |  | 34140063 |
| ***Commercial Services & Supplies — 1.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;ABM Industries, Inc. | 6300 | 242676 |
| &nbsp;&nbsp;&nbsp;Brady Corp., Class A | 4578 | 371917 |
| &nbsp;&nbsp;&nbsp;Brink's Co. (The) | 4524 | 468822 |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc., Class A \* | 5326 | 422565 |
| &nbsp;&nbsp;&nbsp;Cimpress PLC \* | 1426 | 104098 |
| &nbsp;&nbsp;&nbsp;Clean Harbors, Inc. \* | 4977 | 1427055 |
| &nbsp;&nbsp;&nbsp;Deluxe Corp. | 2134 | 58770 |
| &nbsp;&nbsp;&nbsp;Ennis, Inc. | 3110 | 66616 |
| &nbsp;&nbsp;&nbsp;HNI Corp. | 6271 | 209389 |
| &nbsp;&nbsp;&nbsp;Interface, Inc. | 5834 | 145383 |
| &nbsp;&nbsp;&nbsp;Liquidity Services, Inc. \* | 3228 | 98680 |
| &nbsp;&nbsp;&nbsp;MillerKnoll, Inc. | 3785 | 54731 |
| &nbsp;&nbsp;&nbsp;MSA Safety, Inc. | 4031 | 660882 |
| &nbsp;&nbsp;&nbsp;OPENLANE, Inc. \* | 2720 | 79288 |
| &nbsp;&nbsp;&nbsp;Tetra Tech, Inc. | 22616 | 681194 |
| &nbsp;&nbsp;&nbsp;UniFirst Corp. | 1530 | 384933 |
| &nbsp;&nbsp;&nbsp;Vestis Corp. \* | 6146 | 48308 |
| &nbsp;&nbsp;&nbsp;Virco Mfg. Corp. @ | 2494 | 15263 |
|  |  | 5540570 |
| ***Communications Equipment — 1.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;ADTRAN Holdings, Inc. \* | 2665 | 33526 |
| &nbsp;&nbsp;&nbsp;BK Technologies Corp. \* | 400 | 29852 |
| &nbsp;&nbsp;&nbsp;Calix, Inc. \* | 3682 | 180381 |
| &nbsp;&nbsp;&nbsp;Ciena Corp. \* | 5896 | 2289004 |
| &nbsp;&nbsp;&nbsp;Clearfield, Inc. \* | 1417 | 37508 |
| &nbsp;&nbsp;&nbsp;Digi International, Inc. \* | 3397 | 163735 |
| &nbsp;&nbsp;&nbsp;F5, Inc. \* | 1257 | 363688 |
| &nbsp;&nbsp;&nbsp;Harmonic, Inc. \* | 10330 | 92763 |
| &nbsp;&nbsp;&nbsp;Lantronix, Inc. \* | 1100 | 5764 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Communications Equipment (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Lumentum Holdings, Inc. \* | 2005 | $1409034 |
| &nbsp;&nbsp;&nbsp;NETGEAR, Inc. \* | 3539 | 77292 |
| &nbsp;&nbsp;&nbsp;NetScout Systems, Inc. \* | 8182 | 260106 |
| &nbsp;&nbsp;&nbsp;Optical Cable Corp. \* | 374 | 3085 |
| &nbsp;&nbsp;&nbsp;Ribbon Communications, Inc. \* | 3700 | 7844 |
| &nbsp;&nbsp;&nbsp;Viasat, Inc. \* | 1242 | 56884 |
| &nbsp;&nbsp;&nbsp;Viavi Solutions, Inc. \* | 21651 | 720545 |
|  |  | 5731011 |
| ***Computers & Peripherals — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;AstroNova, Inc. \* | 1572 | 14447 |
| &nbsp;&nbsp;&nbsp;Corsair Gaming, Inc. \* | 4513 | 25047 |
| &nbsp;&nbsp;&nbsp;Diebold Nixdorf, Inc. \* | 2014 | 151936 |
| &nbsp;&nbsp;&nbsp;Eastman Kodak Co. \* | 2874 | 26010 |
|  |  | 217440 |
| ***Construction & Engineering — 2.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;AECOM | 4153 | 352258 |
| &nbsp;&nbsp;&nbsp;Ameresco, Inc., Class A \* | 3289 | 83870 |
| &nbsp;&nbsp;&nbsp;Arcosa, Inc. | 1853 | 196677 |
| &nbsp;&nbsp;&nbsp;Dycom Industries, Inc. \* | 2492 | 844339 |
| &nbsp;&nbsp;&nbsp;Everus Construction Group, Inc. \* | 2821 | 333047 |
| &nbsp;&nbsp;&nbsp;Fluor Corp. \* | 6585 | 307190 |
| &nbsp;&nbsp;&nbsp;Granite Construction, Inc. | 4358 | 522437 |
| &nbsp;&nbsp;&nbsp;Great Lakes Dredge & Dock Corp. \* | 5351 | 90967 |
| &nbsp;&nbsp;&nbsp;IES Holdings, Inc. \*@ | 1933 | 921017 |
| &nbsp;&nbsp;&nbsp;MasTec, Inc. \* | 4705 | 1513787 |
| &nbsp;&nbsp;&nbsp;Matrix Service Co. \* | 4086 | 46907 |
| &nbsp;&nbsp;&nbsp;MYR Group, Inc. \* | 1336 | 377180 |
| &nbsp;&nbsp;&nbsp;NWPX Infrastructure, Inc. \* | 1211 | 94289 |
| &nbsp;&nbsp;&nbsp;Primoris Services Corp. | 4603 | 658413 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure, Inc. \* | 2663 | 1084560 |
| &nbsp;&nbsp;&nbsp;Tutor Perini Corp. | 3153 | 243380 |
| &nbsp;&nbsp;&nbsp;Valmont Industries, Inc. | 1958 | 782358 |
| &nbsp;&nbsp;&nbsp;WillScot Holdings Corp. | 18315 | 317948 |
|  |  | 8770624 |
| ***Construction Materials — 0.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | 1439 | 272618 |
| &nbsp;&nbsp;&nbsp;Knife River Corp. \* | 2821 | 230335 |
| &nbsp;&nbsp;&nbsp;U.S. Lime & Minerals, Inc. | 2498 | 326264 |
|  |  | 829217 |
| ***Consumer Finance — 1.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | 6410 | 251464 |
| &nbsp;&nbsp;&nbsp;Atlanticus Holdings Corp. \* | 1324 | 69470 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. | 2939 | 220102 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services, Inc. \* | 3813 | 29474 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Corp. \*@ | 760 | 321830 |
| &nbsp;&nbsp;&nbsp;Dave, Inc. \* | 460 | 80081 |
| &nbsp;&nbsp;&nbsp;Encore Capital Group, Inc. \* | 2787 | 195424 |
| &nbsp;&nbsp;&nbsp;Enova International, Inc. \* | 2166 | 294208 |
| &nbsp;&nbsp;&nbsp;Ezcorp, Inc., Class A \*@ | 5994 | 152128 |
| &nbsp;&nbsp;&nbsp;FirstCash Holdings, Inc. | 2667 | 501396 |
| &nbsp;&nbsp;&nbsp;Green Dot Corp., Class A \* | 2863 | 32123 |
| &nbsp;&nbsp;&nbsp;LendingClub Corp. \* | 8536 | 122235 |
| &nbsp;&nbsp;&nbsp;LendingTree, Inc. \* | 545 | 23370 |
| &nbsp;&nbsp;&nbsp;Navient Corp. | 8170 | 66831 |
| &nbsp;&nbsp;&nbsp;Nelnet, Inc., Class A | 2441 | 314791 |
| &nbsp;&nbsp;&nbsp;NerdWallet, Inc., Class A \* | 2839 | 29469 |
| &nbsp;&nbsp;&nbsp;OneMain Holdings, Inc. | 7656 | 409519 |
| &nbsp;&nbsp;&nbsp;PRA Group, Inc. \* | 4120 | 72100 |
| &nbsp;&nbsp;&nbsp;PROG Holdings, Inc. | 4487 | 128732 |
| &nbsp;&nbsp;&nbsp;Regional Management Corp. | 1467 | 47311 |
| &nbsp;&nbsp;&nbsp;SLM Corp. | 14278 | 305692 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;SoFi Technologies, Inc. \* | 5169 | $| 82084 |
| &nbsp;&nbsp;&nbsp;Upstart Holdings, Inc. \*@ | 4885 |  | 125300 |
| &nbsp;&nbsp;&nbsp;World Acceptance Corp. \* | 514 |  | 69411 |
|  |  |  | 3944545 |
| ***Consumer Staples Distribution & Retail — 2.1%*** | ***Consumer Staples Distribution & Retail — 2.1%*** | ***Consumer Staples Distribution & Retail — 2.1%*** | ***Consumer Staples Distribution & Retail — 2.1%*** |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc., Class A | 5948 |  | 101354 |
| &nbsp;&nbsp;&nbsp;Andersons, Inc. (The) | 4055 |  | 291068 |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc. \* | 4618 |  | 454504 |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | 2265 |  | 1648603 |
| &nbsp;&nbsp;&nbsp;Chefs' Warehouse, Inc. (The) \* | 4636 |  | 275610 |
| &nbsp;&nbsp;&nbsp;Grocery Outlet Holding Corp. \* | 4296 |  | 30287 |
| &nbsp;&nbsp;&nbsp;Ingles Markets, Inc., Class A | 1973 |  | 177353 |
| &nbsp;&nbsp;&nbsp;Maplebear, Inc. \* | 6266 |  | 234724 |
| &nbsp;&nbsp;&nbsp;Natural Grocers by Vitamin Cottage, Inc. @ | 2710 |  | 70054 |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co. \* | 9263 |  | 793469 |
| &nbsp;&nbsp;&nbsp;PriceSmart, Inc. | 2691 |  | 404995 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market, Inc. \* | 7149 |  | 551402 |
| &nbsp;&nbsp;&nbsp;U.S. Foods Holding Corp. \* | 13615 |  | 1255439 |
| &nbsp;&nbsp;&nbsp;United Natural Foods, Inc. \* | 3652 |  | 164559 |
| &nbsp;&nbsp;&nbsp;Village Super Market, Inc., Class A | 830 |  | 35051 |
| &nbsp;&nbsp;&nbsp;Weis Markets, Inc. @ | 2943 |  | 201272 |
|  |  |  | 6689744 |
| ***Containers & Packaging — 0.9%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;AptarGroup, Inc. | 5666 |  | 714029 |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging SA | 22202 |  | 89918 |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | 609 |  | 105162 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | 3202 |  | 321001 |
| &nbsp;&nbsp;&nbsp;Graphic Packaging Holding Co. | 8918 |  | 88645 |
| &nbsp;&nbsp;&nbsp;Greif, Inc., Class A | 2553 |  | 171230 |
| &nbsp;&nbsp;&nbsp;Greif, Inc., Class B @ | 715 |  | 62591 |
| &nbsp;&nbsp;&nbsp;Myers Industries, Inc. | 4361 |  | 92366 |
| &nbsp;&nbsp;&nbsp;O-I Glass, Inc. \* | 9406 |  | 98857 |
| &nbsp;&nbsp;&nbsp;Sealed Air Corp. | 6808 |  | 286276 |
| &nbsp;&nbsp;&nbsp;Silgan Holdings, Inc. @ | 11743 |  | 455628 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | 4592 |  | 248381 |
| &nbsp;&nbsp;&nbsp;TriMas Corp. | 3690 |  | 132619 |
|  |  |  | 2866703 |
| ***Distributors — 0.1%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;GigaCloud Technology, Inc., Class A \* | 1237 |  | 56135 |
| &nbsp;&nbsp;&nbsp;Gold.com, Inc. | 2332 |  | 93467 |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | 3492 |  | 102560 |
| &nbsp;&nbsp;&nbsp;Pool Corp. | 660 |  | 133538 |
| &nbsp;&nbsp;&nbsp;Weyco Group, Inc. | 1043 |  | 33428 |
|  |  |  | 419128 |
| ***Diversified Consumer Services — 1.4%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;ADT, Inc. | 1253 |  | 8232 |
| &nbsp;&nbsp;&nbsp;American Public Education, Inc. \* | 1928 |  | 109665 |
| &nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc. \* | 1895 |  | 155636 |
| &nbsp;&nbsp;&nbsp;Carriage Services, Inc. | 1424 |  | 65020 |
| &nbsp;&nbsp;&nbsp;Coursera, Inc. \* | 9971 |  | 58031 |
| &nbsp;&nbsp;&nbsp;Covista, Inc. \* | 3867 |  | 445672 |
| &nbsp;&nbsp;&nbsp;Driven Brands Holdings, Inc. \* | 7070 |  | 89153 |
| &nbsp;&nbsp;&nbsp;Duolingo, Inc. \* | 500 |  | 49285 |
| &nbsp;&nbsp;&nbsp;Frontdoor, Inc. \* | 2849 |  | 150598 |
| &nbsp;&nbsp;&nbsp;Graham Holdings Co., Class B | 388 |  | 410217 |
| &nbsp;&nbsp;&nbsp;Grand Canyon Education, Inc. \* | 2418 |  | 411133 |
| &nbsp;&nbsp;&nbsp;H&R Block, Inc. | 11646 |  | 369644 |
| &nbsp;&nbsp;&nbsp;Laureate Education, Inc. \* | 3916 |  | 136433 |
| &nbsp;&nbsp;&nbsp;Liberty Live Holdings, Inc., Class A \* | 650 |  | 59566 |
| &nbsp;&nbsp;&nbsp;Liberty Live Holdings, Inc., Class C \* | 836 |  | 78676 |
| &nbsp;&nbsp;&nbsp;Lincoln Educational Services Corp. \* | 1217 |  | 49508 |
| &nbsp;&nbsp;&nbsp;Matthews International Corp., Class A @ | 2051 |  | 52957 |
| &nbsp;&nbsp;&nbsp;Mister Car Wash, Inc. \* | 12585 |  | 87717 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Diversified Consumer Services (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;OneSpaWorld Holdings Ltd. | 5651 | 129690 |
| &nbsp;&nbsp;&nbsp;Perdoceo Education Corp. | 6976 | 259577 |
| &nbsp;&nbsp;&nbsp;Service Corp. International | 7334 | 605128 |
| &nbsp;&nbsp;&nbsp;Strategic Education, Inc. | 2650 | 219844 |
| &nbsp;&nbsp;&nbsp;Stride, Inc. \* | 3868 | 341042 |
| &nbsp;&nbsp;&nbsp;Udemy, Inc. \* | 5944 | 27461 |
| &nbsp;&nbsp;&nbsp;Universal Technical Institute, Inc. \* | 2930 | 105773 |
|  |  | 4475658 |
| ***Diversified Telecommunication Services — 0.2%*** | ***Diversified Telecommunication Services — 0.2%*** | ***Diversified Telecommunication Services — 0.2%*** |
| &nbsp;&nbsp;&nbsp;Anterix, Inc. \* | 854 | 32614 |
| &nbsp;&nbsp;&nbsp;ATN International, Inc. | 1200 | 32664 |
| &nbsp;&nbsp;&nbsp;Bandwidth, Inc., Class A \* | 766 | 13650 |
| &nbsp;&nbsp;&nbsp;GCI Liberty, Inc., Class A \* | 164 | 6043 |
| &nbsp;&nbsp;&nbsp;GCI Liberty, Inc., Class C \* | 1866 | 69434 |
| &nbsp;&nbsp;&nbsp;IDT Corp., Class B | 1342 | 65892 |
| &nbsp;&nbsp;&nbsp;Iridium Communications, Inc. | 5217 | 144720 |
| &nbsp;&nbsp;&nbsp;Liberty Latin America Ltd., Class A \* | 1600 | 13824 |
| &nbsp;&nbsp;&nbsp;Liberty Latin America Ltd., Class C \* | 10810 | 95344 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies, Inc. \* | 8343 | 57984 |
| &nbsp;&nbsp;&nbsp;Shenandoah Telecommunications Co. @ | 6413 | 98889 |
| &nbsp;&nbsp;&nbsp;Uniti Group, Inc. | 1930 | 18103 |
|  |  | 649161 |
| ***Electric Utilities — 0.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;Genie Energy Ltd., Class B | 2213 | 31292 |
| &nbsp;&nbsp;&nbsp;Hawaiian Electric Industries, Inc. \* | 5551 | 82377 |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | 2837 | 405606 |
| &nbsp;&nbsp;&nbsp;MGE Energy, Inc. | 3771 | 291460 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | 10049 | 481950 |
| &nbsp;&nbsp;&nbsp;Otter Tail Corp. | 4597 | 403479 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | 5960 | 600470 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | 5648 | 298045 |
| &nbsp;&nbsp;&nbsp;TXNM Energy, Inc. | 6132 | 358477 |
|  |  | 2953156 |
| ***Electrical Equipment — 1.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | 2347 | 657676 |
| &nbsp;&nbsp;&nbsp;Allient, Inc. | 1626 | 96080 |
| &nbsp;&nbsp;&nbsp;Atkore, Inc. | 3999 | 235581 |
| &nbsp;&nbsp;&nbsp;EnerSys | 3615 | 627998 |
| &nbsp;&nbsp;&nbsp;Generac Holdings, Inc. \* | 720 | 140638 |
| &nbsp;&nbsp;&nbsp;LSI Industries, Inc. | 3137 | 58348 |
| &nbsp;&nbsp;&nbsp;Nextpower, Inc., Class A \* | 3948 | 475931 |
| &nbsp;&nbsp;&nbsp;nVent Electric PLC | 3043 | 359926 |
| &nbsp;&nbsp;&nbsp;Powell Industries, Inc. | 1062 | 574627 |
| &nbsp;&nbsp;&nbsp;Preformed Line Products Co. | 539 | 145934 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | 6071 | 1136856 |
| &nbsp;&nbsp;&nbsp;Sensata Technologies Holding PLC | 6595 | 232276 |
| &nbsp;&nbsp;&nbsp;Sunrun, Inc. \* | 6232 | 84506 |
| &nbsp;&nbsp;&nbsp;Thermon Group Holdings, Inc. \* | 3577 | 180281 |
| &nbsp;&nbsp;&nbsp;Vicor Corp. \* | 3445 | 554645 |
|  |  | 5561303 |
| ***Electronic Equipment, Instruments & Components — 4.3%*** | ***Electronic Equipment, Instruments & Components — 4.3%*** | ***Electronic Equipment, Instruments & Components — 4.3%*** |
| &nbsp;&nbsp;&nbsp;Advanced Energy Industries, Inc. | 3308 | 1067525 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc. \* | 5952 | 853576 |
| &nbsp;&nbsp;&nbsp;Avnet, Inc. | 8026 | 494562 |
| &nbsp;&nbsp;&nbsp;Badger Meter, Inc. | 3103 | 472742 |
| &nbsp;&nbsp;&nbsp;Bel Fuse, Inc., Class B | 1421 | 281330 |
| &nbsp;&nbsp;&nbsp;Belden, Inc. | 4607 | 529022 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Benchmark Electronics, Inc. | 3809 | $213533 |
| &nbsp;&nbsp;&nbsp;Climb Global Solutions, Inc. | 1260 | 24973 |
| &nbsp;&nbsp;&nbsp;Cognex Corp. | 3708 | 181655 |
| &nbsp;&nbsp;&nbsp;Crane NXT Co. | 3739 | 151766 |
| &nbsp;&nbsp;&nbsp;CTS Corp. | 3522 | 168211 |
| &nbsp;&nbsp;&nbsp;Daktronics, Inc. \* | 2225 | 43499 |
| &nbsp;&nbsp;&nbsp;ePlus, Inc. | 1591 | 119723 |
| &nbsp;&nbsp;&nbsp;Fabrinet \* | 2915 | 1520231 |
| &nbsp;&nbsp;&nbsp;Flex Ltd. \* | 16203 | 1060648 |
| &nbsp;&nbsp;&nbsp;Insight Enterprises, Inc. \* | 2809 | 188231 |
| &nbsp;&nbsp;&nbsp;IPG Photonics Corp. \* | 2104 | 241097 |
| &nbsp;&nbsp;&nbsp;Itron, Inc. \* | 4157 | 372592 |
| &nbsp;&nbsp;&nbsp;Kimball Electronics, Inc. \* | 2512 | 59509 |
| &nbsp;&nbsp;&nbsp;Knowles Corp. \* | 4852 | 124599 |
| &nbsp;&nbsp;&nbsp;Littelfuse, Inc. | 1865 | 632888 |
| &nbsp;&nbsp;&nbsp;Methode Electronics, Inc. | 4122 | 22753 |
| &nbsp;&nbsp;&nbsp;Mirion Technologies, Inc. \* | 1739 | 32328 |
| &nbsp;&nbsp;&nbsp;Napco Security Technologies, Inc. | 3236 | 127466 |
| &nbsp;&nbsp;&nbsp;nLight, Inc. \* | 1098 | 62608 |
| &nbsp;&nbsp;&nbsp;Novanta, Inc. \* | 3185 | 376180 |
| &nbsp;&nbsp;&nbsp;OSI Systems, Inc. \*@ | 1449 | 384724 |
| &nbsp;&nbsp;&nbsp;PC Connection, Inc. | 2305 | 134750 |
| &nbsp;&nbsp;&nbsp;Plexus Corp. \* | 2380 | 482045 |
| &nbsp;&nbsp;&nbsp;Richardson Electronics Ltd. @ | 1505 | 16480 |
| &nbsp;&nbsp;&nbsp;Rogers Corp. \* | 2017 | 216485 |
| &nbsp;&nbsp;&nbsp;Sanmina Corp. \* | 4678 | 606456 |
| &nbsp;&nbsp;&nbsp;ScanSource, Inc. \* | 2807 | 101894 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | 3515 | 593016 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc. \* | 8928 | 869766 |
| &nbsp;&nbsp;&nbsp;Vishay Intertechnology, Inc. | 11850 | 213300 |
| &nbsp;&nbsp;&nbsp;Vishay Precision Group, Inc. \* | 1694 | 73553 |
| &nbsp;&nbsp;&nbsp;Vontier Corp. | 8347 | 296068 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A \* | 953 | 199253 |
|  |  | 13611037 |
| ***Energy Equipment & Services — 2.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Archrock, Inc. | 12231 | 425639 |
| &nbsp;&nbsp;&nbsp;Atlas Energy Solutions, Inc. @ | 4288 | 56259 |
| &nbsp;&nbsp;&nbsp;Borr Drilling Ltd. \* | 16547 | 95476 |
| &nbsp;&nbsp;&nbsp;Bristow Group, Inc. | 1864 | 87403 |
| &nbsp;&nbsp;&nbsp;Cactus, Inc., Class A | 3486 | 165132 |
| &nbsp;&nbsp;&nbsp;Core Laboratories, Inc. | 1544 | 25924 |
| &nbsp;&nbsp;&nbsp;Expro Group Holdings NV \* | 7205 | 125439 |
| &nbsp;&nbsp;&nbsp;Forum Energy Technologies, Inc. \* | 445 | 26104 |
| &nbsp;&nbsp;&nbsp;Helix Energy Solutions Group, Inc. \* | 9645 | 95389 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne, Inc. | 5824 | 209839 |
| &nbsp;&nbsp;&nbsp;Innovex International, Inc. \* | 4295 | 104755 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services, Inc. | 3960 | 230947 |
| &nbsp;&nbsp;&nbsp;Liberty Energy, Inc. | 8201 | 236189 |
| &nbsp;&nbsp;&nbsp;Nabors Industries Ltd. \*@ | 841 | 72376 |
| &nbsp;&nbsp;&nbsp;National Energy Services Reunited Corp. \* | 6264 | 134488 |
| &nbsp;&nbsp;&nbsp;Natural Gas Services Group, Inc. | 2179 | 82235 |
| &nbsp;&nbsp;&nbsp;Noble Corp. PLC | 2483 | 121841 |
| &nbsp;&nbsp;&nbsp;NOV, Inc. | 16544 | 311193 |
| &nbsp;&nbsp;&nbsp;Oceaneering International, Inc. \* | 5217 | 185047 |
| &nbsp;&nbsp;&nbsp;Oil States International, Inc. \* | 3584 | 41718 |
| &nbsp;&nbsp;&nbsp;Patterson-UTI Energy, Inc. | 21801 | 236105 |
| &nbsp;&nbsp;&nbsp;ProFrac Holding Corp., Class A \* | 1925 | 11935 |
| &nbsp;&nbsp;&nbsp;ProPetro Holding Corp. \* | 8233 | 118637 |
| &nbsp;&nbsp;&nbsp;Ranger Energy Services, Inc., Class A | 923 | 15820 |
| &nbsp;&nbsp;&nbsp;RPC, Inc. @ | 13322 | 94320 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Energy Equipment & Services (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;SEACOR Marine Holdings, Inc. \* | 3233 | $23148 |
| &nbsp;&nbsp;&nbsp;Seadrill Ltd. \* | 3863 | 175766 |
| &nbsp;&nbsp;&nbsp;Select Water Solutions, Inc. | 7110 | 108783 |
| &nbsp;&nbsp;&nbsp;Solaris Energy Infrastructure, Inc. | 2175 | 122909 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | 20068 | 1387301 |
| &nbsp;&nbsp;&nbsp;TETRA Technologies, Inc. \* | 8698 | 74107 |
| &nbsp;&nbsp;&nbsp;Tidewater, Inc. \*@ | 2915 | 243548 |
| &nbsp;&nbsp;&nbsp;Transocean Ltd. \* | 43549 | 288730 |
| &nbsp;&nbsp;&nbsp;Valaris Ltd. \* | 2773 | 271865 |
| &nbsp;&nbsp;&nbsp;Weatherford International PLC | 4378 | 414071 |
|  |  | 6420438 |
| ***Entertainment — 0.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Atlanta Braves Holdings, Inc., Class A \*@ | 934 | 44038 |
| &nbsp;&nbsp;&nbsp;Atlanta Braves Holdings, Inc., Class C \* | 2412 | 102992 |
| &nbsp;&nbsp;&nbsp;Cinemark Holdings, Inc. | 7484 | 213444 |
| &nbsp;&nbsp;&nbsp;IMAX Corp. \* | 2823 | 107302 |
| &nbsp;&nbsp;&nbsp;Lionsgate Studios Corp. \* | 4178 | 40067 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Entertainment Corp. \* | 1129 | 66509 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Sports Corp. \* | 97 | 31176 |
| &nbsp;&nbsp;&nbsp;Marcus Corp. (The) | 3100 | 53227 |
| &nbsp;&nbsp;&nbsp;Sphere Entertainment Co. \* | 1746 | 204981 |
| &nbsp;&nbsp;&nbsp;Starz Entertainment Corp. \*@ | 278 | 3197 |
| &nbsp;&nbsp;&nbsp;Warner Music Group Corp., Class A | 1140 | 29116 |
|  |  | 896049 |
| ***Financial Services — 1.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Acacia Research Corp. \* | 1995 | 9596 |
| &nbsp;&nbsp;&nbsp;Alerus Financial Corp. | 1341 | 31795 |
| &nbsp;&nbsp;&nbsp;Cantaloupe, Inc. \* | 930 | 10053 |
| &nbsp;&nbsp;&nbsp;Cass Information Systems, Inc. | 1499 | 65986 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | 4600 | 170706 |
| &nbsp;&nbsp;&nbsp;Essent Group Ltd. | 4642 | 271278 |
| &nbsp;&nbsp;&nbsp;Euronet Worldwide, Inc. \* | 2383 | 158160 |
| &nbsp;&nbsp;&nbsp;EVERTEC, Inc. | 3279 | 92533 |
| &nbsp;&nbsp;&nbsp;Federal Agricultural Mortgage Corp., Class C | 923 | 136927 |
| &nbsp;&nbsp;&nbsp;Flywire Corp. \* | 6929 | 80654 |
| &nbsp;&nbsp;&nbsp;International Money Express, Inc. \* | 1977 | 31237 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | 2212 | 349585 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Inc., Class A | 1992 | 210594 |
| &nbsp;&nbsp;&nbsp;loanDepot, Inc., Class A \*@ | 5389 | 7652 |
| &nbsp;&nbsp;&nbsp;Marqeta, Inc., Class A \* | 22955 | 93656 |
| &nbsp;&nbsp;&nbsp;Merchants Bancorp @ | 2861 | 122766 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | 11104 | 291480 |
| &nbsp;&nbsp;&nbsp;NCR Atleos Corp. \* | 2262 | 98578 |
| &nbsp;&nbsp;&nbsp;NMI Holdings, Inc. \* | 7878 | 295504 |
| &nbsp;&nbsp;&nbsp;Onity Group, Inc. \* | 410 | 16101 |
| &nbsp;&nbsp;&nbsp;Paymentus Holdings, Inc., Class A \* | 2415 | 61341 |
| &nbsp;&nbsp;&nbsp;Payoneer Global, Inc. \* | 18183 | 87824 |
| &nbsp;&nbsp;&nbsp;Paysafe Ltd. \*@ | 1300 | 8853 |
| &nbsp;&nbsp;&nbsp;Paysign, Inc. \* | 1810 | 10679 |
| &nbsp;&nbsp;&nbsp;PennyMac Financial Services, Inc. | 1706 | 149104 |
| &nbsp;&nbsp;&nbsp;Radian Group, Inc. | 7144 | 236324 |
| &nbsp;&nbsp;&nbsp;Remitly Global, Inc. \* | 8611 | 134934 |
| &nbsp;&nbsp;&nbsp;Sezzle, Inc. \*@ | 628 | 39746 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments, Inc., Class A \*@ | 2548 | 111424 |
| &nbsp;&nbsp;&nbsp;Velocity Financial, Inc. \* | 540 | 9769 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | 9648 | 659151 |
| &nbsp;&nbsp;&nbsp;Walker & Dunlop, Inc. | 3120 | 138466 |
| &nbsp;&nbsp;&nbsp;Waterstone Financial, Inc. | 2966 | 53477 |
| &nbsp;&nbsp;&nbsp;Western Union Co. (The) @ | 16688 | 145686 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;WEX, Inc. \* | 1703 | $260627 |
|  |  | 4652246 |
| ***Food Products — 1.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alico, Inc. | 713 | 29418 |
| &nbsp;&nbsp;&nbsp;B&G Foods, Inc. @ | 3893 | 18725 |
| &nbsp;&nbsp;&nbsp;Cal-Maine Foods, Inc. | 3959 | 313355 |
| &nbsp;&nbsp;&nbsp;Calavo Growers, Inc. | 2189 | 56454 |
| &nbsp;&nbsp;&nbsp;Campbell's Co. (The) @ | 10241 | 228067 |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. | 4537 | 71322 |
| &nbsp;&nbsp;&nbsp;Darling Ingredients, Inc. \* | 13438 | 831140 |
| &nbsp;&nbsp;&nbsp;Dole PLC | 6037 | 86269 |
| &nbsp;&nbsp;&nbsp;Fresh Del Monte Produce, Inc. | 5010 | 201703 |
| &nbsp;&nbsp;&nbsp;Freshpet, Inc. \* | 2956 | 174286 |
| &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | 3194 | 72344 |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | 3754 | 422926 |
| &nbsp;&nbsp;&nbsp;J&J Snack Foods Corp. | 1747 | 138485 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. (The) | 2567 | 247562 |
| &nbsp;&nbsp;&nbsp;John B Sanfilippo & Son, Inc. | 981 | 77823 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | 1821 | 76955 |
| &nbsp;&nbsp;&nbsp;Lifeway Foods, Inc. \* | 1756 | 33961 |
| &nbsp;&nbsp;&nbsp;Limoneira Co. | 2072 | 27806 |
| &nbsp;&nbsp;&nbsp;Mama's Creations, Inc. \* | 1932 | 29637 |
| &nbsp;&nbsp;&nbsp;Marzetti Co. (The) | 2908 | 402264 |
| &nbsp;&nbsp;&nbsp;Mission Produce, Inc. \* | 3974 | 54682 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | 5624 | 212362 |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc. \* | 4776 | 472155 |
| &nbsp;&nbsp;&nbsp;Seaboard Corp. | 42 | 237469 |
| &nbsp;&nbsp;&nbsp;Seneca Foods Corp., Class A \* | 800 | 120896 |
| &nbsp;&nbsp;&nbsp;Tootsie Roll Industries, Inc. @ | 5209 | 222516 |
| &nbsp;&nbsp;&nbsp;Utz Brands, Inc. | 4559 | 36107 |
| &nbsp;&nbsp;&nbsp;Vital Farms, Inc. \*@ | 2774 | 39169 |
|  |  | 4935858 |
| ***Gas Utilities — 1.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Chesapeake Utilities Corp. | 2106 | 266135 |
| &nbsp;&nbsp;&nbsp;MDU Resources Group, Inc. | 11285 | 233825 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 4000 | 375840 |
| &nbsp;&nbsp;&nbsp;New Jersey Resources Corp. | 9687 | 532010 |
| &nbsp;&nbsp;&nbsp;Northwest Natural Holding Co. | 3354 | 178500 |
| &nbsp;&nbsp;&nbsp;ONE Gas, Inc. | 5011 | 431598 |
| &nbsp;&nbsp;&nbsp;RGC Resources, Inc. | 600 | 13230 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings, Inc. | 4019 | 349251 |
| &nbsp;&nbsp;&nbsp;Spire, Inc. | 4808 | 435316 |
| &nbsp;&nbsp;&nbsp;UGI Corp. | 6235 | 227079 |
|  |  | 3042784 |
| ***Ground Transportation — 1.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;ArcBest Corp. | 2227 | 219048 |
| &nbsp;&nbsp;&nbsp;Avis Budget Group, Inc. \*@ | 279 | 40692 |
| &nbsp;&nbsp;&nbsp;Covenant Logistics Group, Inc. | 1720 | 46698 |
| &nbsp;&nbsp;&nbsp;Heartland Express, Inc. | 5239 | 54485 |
| &nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc. | 10458 | 602172 |
| &nbsp;&nbsp;&nbsp;Landstar System, Inc. | 2867 | 459609 |
| &nbsp;&nbsp;&nbsp;Marten Transport Ltd. | 7902 | 103753 |
| &nbsp;&nbsp;&nbsp;PAMT Corp. \* | 2517 | 21269 |
| &nbsp;&nbsp;&nbsp;RXO, Inc. \* | 1530 | 22369 |
| &nbsp;&nbsp;&nbsp;Saia, Inc. \* | 1087 | 381841 |
| &nbsp;&nbsp;&nbsp;Schneider National, Inc., Class B | 1500 | 39540 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. \*@ | 1058 | 50551 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. | 9522 | 425348 |
| &nbsp;&nbsp;&nbsp;Universal Logistics Holdings, Inc. @ | 2139 | 45218 |
| &nbsp;&nbsp;&nbsp;Werner Enterprises, Inc. | 6118 | 179930 |
| &nbsp;&nbsp;&nbsp;XPO, Inc. \* | 1925 | 374509 |
|  |  | 3067032 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Health Care Equipment & Supplies — 1.7%*** | ***Health Care Equipment & Supplies — 1.7%*** | ***Health Care Equipment & Supplies — 1.7%*** |
| &nbsp;&nbsp;&nbsp;ABIOMED, Inc. CVR \*¶§ | 90 | $— |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc. \* | 881 | 151030 |
| &nbsp;&nbsp;&nbsp;AngioDynamics, Inc. \* | 2110 | 23991 |
| &nbsp;&nbsp;&nbsp;Artivion, Inc. \* | 5028 | 184125 |
| &nbsp;&nbsp;&nbsp;AtriCure, Inc. \* | 2383 | 67987 |
| &nbsp;&nbsp;&nbsp;Avanos Medical, Inc. \* | 1889 | 26465 |
| &nbsp;&nbsp;&nbsp;Axogen, Inc. \* | 2643 | 87563 |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. | 7197 | 120910 |
| &nbsp;&nbsp;&nbsp;Bioventus, Inc., Class A \*@ | 2546 | 23245 |
| &nbsp;&nbsp;&nbsp;CONMED Corp. | 2255 | 79737 |
| &nbsp;&nbsp;&nbsp;Cooper Cos., Inc. (The) \* | 1405 | 100457 |
| &nbsp;&nbsp;&nbsp;Dentsply Sirona, Inc. | 11614 | 134722 |
| &nbsp;&nbsp;&nbsp;Electromed, Inc. \* | 2175 | 50917 |
| &nbsp;&nbsp;&nbsp;Enovis Corp. \* | 3039 | 69137 |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp. \* | 4699 | 119214 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Inc., Class A \* | 8354 | 719781 |
| &nbsp;&nbsp;&nbsp;Haemonetics Corp. \* | 5164 | 291043 |
| &nbsp;&nbsp;&nbsp;ICU Medical, Inc. \* | 1615 | 208577 |
| &nbsp;&nbsp;&nbsp;Inspire Medical Systems, Inc. \* | 661 | 34094 |
| &nbsp;&nbsp;&nbsp;Integer Holdings Corp. \* | 3152 | 277376 |
| &nbsp;&nbsp;&nbsp;Integra LifeSciences Holdings Corp. \* | 6371 | 60015 |
| &nbsp;&nbsp;&nbsp;iRadimed Corp. | 704 | 67767 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings, Inc. \* | 3768 | 285803 |
| &nbsp;&nbsp;&nbsp;LeMaitre Vascular, Inc. | 1935 | 211244 |
| &nbsp;&nbsp;&nbsp;LENSAR, Inc. \*@ | 1385 | 8255 |
| &nbsp;&nbsp;&nbsp;LivaNova PLC \* | 3293 | 209303 |
| &nbsp;&nbsp;&nbsp;Masimo Corp. \* | 688 | 122374 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems, Inc. \* | 3513 | 242151 |
| &nbsp;&nbsp;&nbsp;Neogen Corp. \* | 13245 | 123046 |
| &nbsp;&nbsp;&nbsp;Novocure Ltd. \* | 6600 | 71940 |
| &nbsp;&nbsp;&nbsp;Omnicell, Inc. \* | 4593 | 153314 |
| &nbsp;&nbsp;&nbsp;Orthofix Medical, Inc. \* | 2271 | 26048 |
| &nbsp;&nbsp;&nbsp;Penumbra, Inc. \* | 1722 | 565453 |
| &nbsp;&nbsp;&nbsp;QuidelOrtho Corp. \* | 3821 | 62779 |
| &nbsp;&nbsp;&nbsp;SI-BONE, Inc. \* | 2193 | 27698 |
| &nbsp;&nbsp;&nbsp;Sight Sciences, Inc. \* | 2351 | 8863 |
| &nbsp;&nbsp;&nbsp;STAAR Surgical Co. \* | 2877 | 53800 |
| &nbsp;&nbsp;&nbsp;Tactile Systems Technology, Inc. \* | 1239 | 32375 |
| &nbsp;&nbsp;&nbsp;Teleflex, Inc. | 992 | 118653 |
| &nbsp;&nbsp;&nbsp;TransMedics Group, Inc. \* | 236 | 23461 |
| &nbsp;&nbsp;&nbsp;UFP Technologies, Inc. \* | 700 | 135520 |
| &nbsp;&nbsp;&nbsp;Utah Medical Products, Inc. | 630 | 39054 |
| &nbsp;&nbsp;&nbsp;Varex Imaging Corp. \* | 2330 | 24721 |
|  |  | 5444008 |
| ***Health Care Providers & Services — 3.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Acadia Healthcare Co., Inc. \* | 2558 | 59832 |
| &nbsp;&nbsp;&nbsp;Accendra Health, Inc. \* | 2201 | 5018 |
| &nbsp;&nbsp;&nbsp;AdaptHealth Corp. \* | 5765 | 68603 |
| &nbsp;&nbsp;&nbsp;Addus HomeCare Corp. \* | 1872 | 175313 |
| &nbsp;&nbsp;&nbsp;AMN Healthcare Services, Inc. \* | 3754 | 68848 |
| &nbsp;&nbsp;&nbsp;Astrana Health, Inc. \* | 2990 | 73315 |
| &nbsp;&nbsp;&nbsp;Brookdale Senior Living, Inc. \* | 11076 | 151520 |
| &nbsp;&nbsp;&nbsp;Castle Biosciences, Inc. \* | 1302 | 31964 |
| &nbsp;&nbsp;&nbsp;Chemed Corp. | 896 | 338455 |
| &nbsp;&nbsp;&nbsp;Clover Health Investments Corp. \*@ | 7614 | 13401 |
| &nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent, Inc. | 9795 | 210103 |
| &nbsp;&nbsp;&nbsp;CorVel Corp. \* | 3061 | 167284 |
| &nbsp;&nbsp;&nbsp;Cross Country Healthcare, Inc. \*@ | 3321 | 31217 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;DaVita, Inc. \* | 8508 | $1307594 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | 6968 | 674015 |
| &nbsp;&nbsp;&nbsp;Enhabit, Inc. \* | 1956 | 27560 |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. (The) | 3414 | 687921 |
| &nbsp;&nbsp;&nbsp;Fulgent Genetics, Inc. \* | 1400 | 22260 |
| &nbsp;&nbsp;&nbsp;GeneDx Holdings Corp. \* | 1268 | 81431 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc. \* | 4526 | 378238 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc. \* | 7338 | 540811 |
| &nbsp;&nbsp;&nbsp;Innovage Holding Corp. \* | 1458 | 11693 |
| &nbsp;&nbsp;&nbsp;LifeStance Health Group, Inc. \* | 25606 | 163110 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc. \* | 429 | 57186 |
| &nbsp;&nbsp;&nbsp;National HealthCare Corp. | 1582 | 252645 |
| &nbsp;&nbsp;&nbsp;National Research Corp. @ | 2987 | 50719 |
| &nbsp;&nbsp;&nbsp;NeoGenomics, Inc. \* | 7469 | 55420 |
| &nbsp;&nbsp;&nbsp;Option Care Health, Inc. \* | 7998 | 215306 |
| &nbsp;&nbsp;&nbsp;PACS Group, Inc. \* | 961 | 30867 |
| &nbsp;&nbsp;&nbsp;Pediatrix Medical Group, Inc. \* | 5138 | 109902 |
| &nbsp;&nbsp;&nbsp;Pennant Group, Inc. (The) \* | 2408 | 73396 |
| &nbsp;&nbsp;&nbsp;Privia Health Group, Inc. \* | 7436 | 152958 |
| &nbsp;&nbsp;&nbsp;Progyny, Inc. \* | 4967 | 84340 |
| &nbsp;&nbsp;&nbsp;RadNet, Inc. \* | 5402 | 301918 |
| &nbsp;&nbsp;&nbsp;Select Medical Holdings Corp. | 12138 | 197728 |
| &nbsp;&nbsp;&nbsp;Sonida Senior Living, Inc. \* | 1422 | 45859 |
| &nbsp;&nbsp;&nbsp;Strata Critical Medical, Inc. \*@ | 2725 | 11390 |
| &nbsp;&nbsp;&nbsp;Surgery Partners, Inc. \*@ | 7474 | 89090 |
| &nbsp;&nbsp;&nbsp;Talkspace, Inc. \* | 4209 | 21782 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. \* | 9110 | 1719148 |
| &nbsp;&nbsp;&nbsp;U.S. Physical Therapy, Inc. | 1511 | 113265 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | 3730 | 667558 |
|  |  | 9539983 |
| ***Health Care Technology — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Certara, Inc. \* | 8189 | 46677 |
| &nbsp;&nbsp;&nbsp;Doximity, Inc., Class A \* | 2443 | 56922 |
| &nbsp;&nbsp;&nbsp;HealthStream, Inc. | 2771 | 57387 |
| &nbsp;&nbsp;&nbsp;Schrodinger, Inc. \* | 3936 | 44713 |
| &nbsp;&nbsp;&nbsp;Simulations Plus, Inc. \* | 1298 | 15342 |
| &nbsp;&nbsp;&nbsp;Teladoc Health, Inc. \*@ | 7419 | 40434 |
| &nbsp;&nbsp;&nbsp;TruBridge, Inc. \*@ | 1636 | 23951 |
| &nbsp;&nbsp;&nbsp;Waystar Holding Corp. \* | 1480 | 35683 |
|  |  | 321109 |
| ***Hotels, Restaurants & Leisure — 2.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aramark | 20945 | 849110 |
| &nbsp;&nbsp;&nbsp;Biglari Holdings, Inc., Class A \* | 7 | 12199 |
| &nbsp;&nbsp;&nbsp;Biglari Holdings, Inc., Class B \* | 131 | 43176 |
| &nbsp;&nbsp;&nbsp;BJ's Restaurants, Inc. \* | 2751 | 96560 |
| &nbsp;&nbsp;&nbsp;Bloomin' Brands, Inc. | 2756 | 14882 |
| &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | 2637 | 216709 |
| &nbsp;&nbsp;&nbsp;Brightstar Lottery PLC | 969 | 12345 |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc. \* | 4610 | 658170 |
| &nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc. \* | 5163 | 136458 |
| &nbsp;&nbsp;&nbsp;Cheesecake Factory, Inc. (The) | 5035 | 275666 |
| &nbsp;&nbsp;&nbsp;Choice Hotels International, Inc. @ | 5300 | 548550 |
| &nbsp;&nbsp;&nbsp;Churchill Downs, Inc. | 6075 | 545717 |
| &nbsp;&nbsp;&nbsp;Cracker Barrel Old Country Store, Inc. | 2324 | 65328 |
| &nbsp;&nbsp;&nbsp;Dave & Buster's Entertainment, Inc. \* | 1638 | 17740 |
| &nbsp;&nbsp;&nbsp;Dine Brands Global, Inc. | 500 | 13120 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | 558 | 200205 |
| &nbsp;&nbsp;&nbsp;Dutch Bros, Inc., Class A \* | 1169 | 59221 |
| &nbsp;&nbsp;&nbsp;El Pollo Loco Holdings, Inc. \* | 2723 | 37741 |
| &nbsp;&nbsp;&nbsp;First Watch Restaurant Group, Inc. \* | 2347 | 24597 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Hotels, Restaurants & Leisure (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Global Business Travel Group I \*@ | 19679 | $109809 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations, Inc. \* | 5115 | 200099 |
| &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp., Class A | 811 | 116614 |
| &nbsp;&nbsp;&nbsp;Inspired Entertainment, Inc. \* | 1305 | 9305 |
| &nbsp;&nbsp;&nbsp;Krispy Kreme, Inc. | 9314 | 31574 |
| &nbsp;&nbsp;&nbsp;Kura Sushi USA, Inc., Class A \* | 365 | 25473 |
| &nbsp;&nbsp;&nbsp;Life Time Group Holdings, Inc. \* | 390 | 10507 |
| &nbsp;&nbsp;&nbsp;Lindblad Expeditions Holdings, Inc. \* | 1823 | 31538 |
| &nbsp;&nbsp;&nbsp;Marriott Vacations Worldwide Corp. | 3349 | 218087 |
| &nbsp;&nbsp;&nbsp;Monarch Casino & Resort, Inc. | 1490 | 142444 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings Ltd. \* | 9121 | 170563 |
| &nbsp;&nbsp;&nbsp;Papa John's International, Inc. @ | 3338 | 108185 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc., Class A \* | 8887 | 661015 |
| &nbsp;&nbsp;&nbsp;Pursuit Attractions & Hospitality, Inc. \* | 1499 | 54908 |
| &nbsp;&nbsp;&nbsp;Shake Shack, Inc., Class A \* | 2266 | 200473 |
| &nbsp;&nbsp;&nbsp;Target Hospitality Corp. \* | 4865 | 45147 |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | 5745 | 948729 |
| &nbsp;&nbsp;&nbsp;Travel + Leisure Co. | 3181 | 220093 |
| &nbsp;&nbsp;&nbsp;United Parks & Resorts, Inc. \*@ | 3740 | 122148 |
| &nbsp;&nbsp;&nbsp;Vail Resorts, Inc. @ | 1779 | 228281 |
| &nbsp;&nbsp;&nbsp;Wendy's Co. (The) @ | 22109 | 153658 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. @ | 1117 | 173101 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. | 5481 | 445222 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | 5043 | 512117 |
|  |  | 8766584 |
| ***Household Durables — 2.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Bassett Furniture Industries, Inc. | 1080 | 15282 |
| &nbsp;&nbsp;&nbsp;Beazer Homes USA, Inc. \* | 1643 | 31611 |
| &nbsp;&nbsp;&nbsp;Cavco Industries, Inc. \* | 691 | 334644 |
| &nbsp;&nbsp;&nbsp;Century Communities, Inc. | 3367 | 193198 |
| &nbsp;&nbsp;&nbsp;Champion Homes, Inc. \* | 2566 | 190833 |
| &nbsp;&nbsp;&nbsp;Dream Finders Homes, Inc., Class A \*@ | 1165 | 16217 |
| &nbsp;&nbsp;&nbsp;Ethan Allen Interiors, Inc. | 2598 | 57831 |
| &nbsp;&nbsp;&nbsp;Flexsteel Industries, Inc. | 1069 | 48041 |
| &nbsp;&nbsp;&nbsp;Green Brick Partners, Inc. \* | 4024 | 259347 |
| &nbsp;&nbsp;&nbsp;Hamilton Beach Brands Holding Co., Class A | 2000 | 37900 |
| &nbsp;&nbsp;&nbsp;Helen of Troy Ltd. \* | 2629 | 37910 |
| &nbsp;&nbsp;&nbsp;Hooker Furnishings Corp. | 1742 | 22437 |
| &nbsp;&nbsp;&nbsp;Hovnanian Enterprises, Inc., Class A \* | 113 | 12533 |
| &nbsp;&nbsp;&nbsp;Installed Building Products, Inc. | 3050 | 808707 |
| &nbsp;&nbsp;&nbsp;KB Home | 7849 | 406186 |
| &nbsp;&nbsp;&nbsp;La-Z-Boy, Inc. | 4321 | 138877 |
| &nbsp;&nbsp;&nbsp;Legacy Housing Corp. \* | 1146 | 23413 |
| &nbsp;&nbsp;&nbsp;Leggett & Platt, Inc. | 5052 | 49914 |
| &nbsp;&nbsp;&nbsp;LGI Homes, Inc. \* | 1019 | 40281 |
| &nbsp;&nbsp;&nbsp;M/I Homes, Inc. \* | 2340 | 286533 |
| &nbsp;&nbsp;&nbsp;Meritage Homes Corp. | 6982 | 431767 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries, Inc. \* | 3847 | 378776 |
| &nbsp;&nbsp;&nbsp;Newell Brands, Inc. | 24379 | 83620 |
| &nbsp;&nbsp;&nbsp;Orleans Homebuilders, Inc. \*@§ | 4953 |  |
| &nbsp;&nbsp;&nbsp;Somnigroup International, Inc. | 16837 | 1244591 |
| &nbsp;&nbsp;&nbsp;Sonos, Inc. \* | 6337 | 84916 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp. \* | 9778 | 569471 |
| &nbsp;&nbsp;&nbsp;Toll Brothers, Inc. | 10507 | 1433890 |
| &nbsp;&nbsp;&nbsp;TopBuild Corp. \* | 2826 | 992774 |
| &nbsp;&nbsp;&nbsp;TRI Pointe Homes, Inc. \* | 7213 | 337063 |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 218 | 11755 |
|  |  | 8580318 |
| ***Household Products — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet Co. \* | 427 | 15701 |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet Co., Class A \* | 5031 | 163105 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Clorox Co. (The) | 1797 | $| 186223 |
| &nbsp;&nbsp;&nbsp;Energizer Holdings, Inc. | 2355 |  | 38669 |
| &nbsp;&nbsp;&nbsp;Oil-Dri Corp. of America | 611 |  | 39770 |
| &nbsp;&nbsp;&nbsp;Spectrum Brands Holdings, Inc. | 1189 |  | 87630 |
| &nbsp;&nbsp;&nbsp;WD-40 Co. | 1229 |  | 250642 |
|  |  |  | 781740 |
| ***Independent Power Producers & Energy Traders — 0.4%*** | ***Independent Power Producers & Energy Traders — 0.4%*** | ***Independent Power Producers & Energy Traders — 0.4%*** | ***Independent Power Producers & Energy Traders — 0.4%*** |
| &nbsp;&nbsp;&nbsp;AES Corp. (The) | 14453 |  | 203643 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Inc., Class A | 3716 |  | 145556 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Inc., Class C | 8971 |  | 352470 |
| &nbsp;&nbsp;&nbsp;Hallador Energy Co. \* | 3193 |  | 51982 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies, Inc. | 5451 |  | 610076 |
|  |  |  | 1363727 |
| ***Insurance — 4.2%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;American Coastal Insurance Corp. | 1640 |  | 18450 |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | 3696 |  | 472016 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | 4101 |  | 893239 |
| &nbsp;&nbsp;&nbsp;Assured Guaranty Ltd. | 4657 |  | 379452 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings Ltd. | 4830 |  | 489810 |
| &nbsp;&nbsp;&nbsp;Baldwin Insurance Group, Inc. (The) \*@ | 3130 |  | 68672 |
| &nbsp;&nbsp;&nbsp;Bowhead Specialty Holdings, Inc. \* | 1110 |  | 24897 |
| &nbsp;&nbsp;&nbsp;Brighthouse Financial, Inc. \* | 3688 |  | 220838 |
| &nbsp;&nbsp;&nbsp;Citizens, Inc. \*@ | 6126 |  | 30814 |
| &nbsp;&nbsp;&nbsp;CNO Financial Group, Inc. | 8455 |  | 347162 |
| &nbsp;&nbsp;&nbsp;Crawford & Co., Class A | 3214 |  | 32044 |
| &nbsp;&nbsp;&nbsp;Crawford & Co., Class B | 3345 |  | 33918 |
| &nbsp;&nbsp;&nbsp;Donegal Group, Inc., Class A | 2745 |  | 47159 |
| &nbsp;&nbsp;&nbsp;Employers Holdings, Inc. | 2665 |  | 109638 |
| &nbsp;&nbsp;&nbsp;Everest Group Ltd. | 18 |  | 5883 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc. | 2254 |  | 57071 |
| &nbsp;&nbsp;&nbsp;Fidelis Insurance Holdings Ltd. | 5980 |  | 114278 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | 3987 |  | 184917 |
| &nbsp;&nbsp;&nbsp;First American Financial Corp. | 7508 |  | 452657 |
| &nbsp;&nbsp;&nbsp;Genworth Financial, Inc. \* | 27488 |  | 223203 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | 3866 |  | 538031 |
| &nbsp;&nbsp;&nbsp;Greenlight Capital Re Ltd., Class A \* | 1599 |  | 27647 |
| &nbsp;&nbsp;&nbsp;Hamilton Insurance Group Ltd., Class B | 3624 |  | 108104 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. (The) | 2145 |  | 371836 |
| &nbsp;&nbsp;&nbsp;HCI Group, Inc. | 741 |  | 114566 |
| &nbsp;&nbsp;&nbsp;Heritage Insurance Holdings, Inc. \* | 1557 |  | 40871 |
| &nbsp;&nbsp;&nbsp;Hippo Holdings, Inc. \* | 1311 |  | 34165 |
| &nbsp;&nbsp;&nbsp;Horace Mann Educators Corp. | 4392 |  | 187451 |
| &nbsp;&nbsp;&nbsp;Investors Title Co. | 279 |  | 60638 |
| &nbsp;&nbsp;&nbsp;Kemper Corp. | 5843 |  | 178562 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | 808 |  | 276061 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 7815 |  | 277433 |
| &nbsp;&nbsp;&nbsp;Mercury General Corp. | 3869 |  | 341052 |
| &nbsp;&nbsp;&nbsp;Octave Specialty Group, Inc. \* | 900 |  | 4185 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 20327 |  | 811047 |
| &nbsp;&nbsp;&nbsp;Oscar Health, Inc., Class A \* | 7429 |  | 85211 |
| &nbsp;&nbsp;&nbsp;Palomar Holdings, Inc. \* | 1593 |  | 190364 |
| &nbsp;&nbsp;&nbsp;Primerica, Inc. | 2788 |  | 698338 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. | 3182 |  | 649637 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. | 2896 |  | 860778 |
| &nbsp;&nbsp;&nbsp;RLI Corp. | 7825 |  | 446338 |
| &nbsp;&nbsp;&nbsp;Root, Inc., Class A \*@ | 289 |  | 12765 |
| &nbsp;&nbsp;&nbsp;Safety Insurance Group, Inc. | 1493 |  | 108452 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group, Inc. | 5516 |  | 415851 |
| &nbsp;&nbsp;&nbsp;SiriusPoint Ltd. \* | 7656 |  | 164910 |
| &nbsp;&nbsp;&nbsp;Skyward Specialty Insurance Group, Inc. \* | 1802 |  | 78711 |
| &nbsp;&nbsp;&nbsp;Stewart Information Services Corp. | 2578 |  | 158753 |
| &nbsp;&nbsp;&nbsp;Tiptree, Inc. | 1802 |  | 30490 |
| &nbsp;&nbsp;&nbsp;Trupanion, Inc. \* | 1707 |  | 43716 |
| &nbsp;&nbsp;&nbsp;Unico American Corp. \*§ | 1700 |  |  |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Insurance (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;United Fire Group, Inc. | 1485 | $55034 |
| &nbsp;&nbsp;&nbsp;Universal Insurance Holdings, Inc. | 2828 | 96605 |
| &nbsp;&nbsp;&nbsp;Unum Group | 14680 | 1072081 |
| &nbsp;&nbsp;&nbsp;White Mountains Insurance Group Ltd. | 170 | 373483 |
|  |  | 13119284 |
| ***Interactive Media & Services — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Bumble, Inc., Class A \* | 5850 | 19071 |
| &nbsp;&nbsp;&nbsp;Cargurus, Inc. \* | 3196 | 108824 |
| &nbsp;&nbsp;&nbsp;Cars.com, Inc. \* | 3931 | 31920 |
| &nbsp;&nbsp;&nbsp;EverQuote, Inc., Class A \* | 1321 | 20370 |
| &nbsp;&nbsp;&nbsp;fuboTV, Inc., Class A \*@ | 494 | 4673 |
| &nbsp;&nbsp;&nbsp;Match Group, Inc. | 6820 | 209442 |
| &nbsp;&nbsp;&nbsp;MediaAlpha, Inc., Class A \* | 1710 | 15903 |
| &nbsp;&nbsp;&nbsp;QuinStreet, Inc. \* | 4281 | 51415 |
| &nbsp;&nbsp;&nbsp;Shutterstock, Inc. | 1210 | 20098 |
| &nbsp;&nbsp;&nbsp;TripAdvisor, Inc. \* | 6601 | 70366 |
| &nbsp;&nbsp;&nbsp;Yelp, Inc. \* | 4724 | 116872 |
| &nbsp;&nbsp;&nbsp;Ziff Davis, Inc. \* | 2996 | 125712 |
|  |  | 794666 |
| ***IT Services — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;Amdocs Ltd. | 5319 | 347118 |
| &nbsp;&nbsp;&nbsp;ASGN, Inc. \* | 4078 | 157859 |
| &nbsp;&nbsp;&nbsp;DXC Technology Co. \* | 5330 | 66998 |
| &nbsp;&nbsp;&nbsp;EPAM Systems, Inc. \* | 1045 | 141493 |
| &nbsp;&nbsp;&nbsp;Fastly, Inc., Class A \* | 8533 | 247969 |
| &nbsp;&nbsp;&nbsp;Globant SA \* | 761 | 35090 |
| &nbsp;&nbsp;&nbsp;Hackett Group, Inc. (The) | 3495 | 45470 |
| &nbsp;&nbsp;&nbsp;Information Services Group, Inc. | 2180 | 8371 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings, Inc. \* | 9646 | 126555 |
| &nbsp;&nbsp;&nbsp;Okta, Inc. \* | 2791 | 219680 |
|  |  | 1396603 |
| ***Leisure Equipment & Products — 0.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Acushnet Holdings Corp. | 541 | 50573 |
| &nbsp;&nbsp;&nbsp;Brunswick Corp. | 3312 | 240981 |
| &nbsp;&nbsp;&nbsp;Callaway Golf Co. \* | 10732 | 148960 |
| &nbsp;&nbsp;&nbsp;Escalade, Inc. | 1950 | 33481 |
| &nbsp;&nbsp;&nbsp;Hasbro, Inc. | 3807 | 356335 |
| &nbsp;&nbsp;&nbsp;Johnson Outdoors, Inc., Class A | 1000 | 46510 |
| &nbsp;&nbsp;&nbsp;Latham Group, Inc. \* | 5029 | 27006 |
| &nbsp;&nbsp;&nbsp;Malibu Boats, Inc., Class A \* | 2116 | 54847 |
| &nbsp;&nbsp;&nbsp;Marine Products Corp. @ | 3930 | 28571 |
| &nbsp;&nbsp;&nbsp;MasterCraft Boat Holdings, Inc. \* | 1583 | 32467 |
| &nbsp;&nbsp;&nbsp;Mattel, Inc. \* | 16916 | 245789 |
| &nbsp;&nbsp;&nbsp;Polaris, Inc. | 2964 | 161538 |
| &nbsp;&nbsp;&nbsp;Smith & Wesson Brands, Inc. | 2884 | 41328 |
| &nbsp;&nbsp;&nbsp;Sturm Ruger & Co., Inc. | 662 | 26540 |
| &nbsp;&nbsp;&nbsp;YETI Holdings, Inc. \* | 4371 | 159935 |
|  |  | 1654861 |
| ***Life Sciences Tools & Services — 0.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;10X Genomics, Inc., Class A \* | 6764 | 143600 |
| &nbsp;&nbsp;&nbsp;Avantor, Inc. \* | 7284 | 57106 |
| &nbsp;&nbsp;&nbsp;Azenta, Inc. \* | 2443 | 51621 |
| &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories, Inc., Class A \* | 457 | 127389 |
| &nbsp;&nbsp;&nbsp;Bio-Techne Corp. | 3837 | 200522 |
| &nbsp;&nbsp;&nbsp;BioLife Solutions, Inc. \* | 2737 | 52222 |
| &nbsp;&nbsp;&nbsp;Bruker Corp. | 5636 | 203572 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc. \* | 991 | $170947 |
| &nbsp;&nbsp;&nbsp;CryoPort, Inc. \* | 1913 | 15840 |
| &nbsp;&nbsp;&nbsp;Cytek Biosciences, Inc. \*@ | 5445 | 23795 |
| &nbsp;&nbsp;&nbsp;ICON PLC \* | 104 | 11509 |
| &nbsp;&nbsp;&nbsp;Maravai LifeSciences Holdings, Inc., Class A \* | 6182 | 17495 |
| &nbsp;&nbsp;&nbsp;Medpace Holdings, Inc. \* | 2141 | 1028087 |
| &nbsp;&nbsp;&nbsp;Mesa Laboratories, Inc. | 175 | 15473 |
| &nbsp;&nbsp;&nbsp;OmniAb, Inc. \* | 8462 | 13285 |
| &nbsp;&nbsp;&nbsp;OmniAb, Inc. \*§ | 654 |  |
| &nbsp;&nbsp;&nbsp;OmniAb, Inc. \*§ | 654 |  |
| &nbsp;&nbsp;&nbsp;Personalis, Inc. \*@ | 2323 | 14797 |
| &nbsp;&nbsp;&nbsp;Quanterix Corp. \* | 1800 | 6336 |
| &nbsp;&nbsp;&nbsp;Repligen Corp. \* | 2618 | 308453 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. | 2747 | 240665 |
|  |  | 2702714 |
| ***Machinery — 5.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aebi Schmidt Holding AG | 4070 | 39520 |
| &nbsp;&nbsp;&nbsp;AGCO Corp. | 4840 | 560811 |
| &nbsp;&nbsp;&nbsp;Alamo Group, Inc. | 1213 | 200109 |
| &nbsp;&nbsp;&nbsp;Albany International Corp., Class A | 2901 | 151461 |
| &nbsp;&nbsp;&nbsp;Allison Transmission Holdings, Inc. | 6647 | 778098 |
| &nbsp;&nbsp;&nbsp;Astec Industries, Inc. | 1354 | 72899 |
| &nbsp;&nbsp;&nbsp;CECO Environmental Corp. \* | 4211 | 250891 |
| &nbsp;&nbsp;&nbsp;CNH Industrial NV | 11489 | 126379 |
| &nbsp;&nbsp;&nbsp;Columbus McKinnon Corp. | 2642 | 38388 |
| &nbsp;&nbsp;&nbsp;Crane Co. | 3089 | 528219 |
| &nbsp;&nbsp;&nbsp;Donaldson Co., Inc. | 8206 | 696443 |
| &nbsp;&nbsp;&nbsp;Douglas Dynamics, Inc. | 2507 | 105520 |
| &nbsp;&nbsp;&nbsp;Eastern Co. (The) | 776 | 15706 |
| &nbsp;&nbsp;&nbsp;Enerpac Tool Group Corp. | 4909 | 179031 |
| &nbsp;&nbsp;&nbsp;Enpro, Inc. | 1812 | 454178 |
| &nbsp;&nbsp;&nbsp;Esab Corp. | 418 | 40404 |
| &nbsp;&nbsp;&nbsp;ESCO Technologies, Inc. | 2200 | 619014 |
| &nbsp;&nbsp;&nbsp;Federal Signal Corp. | 5267 | 569573 |
| &nbsp;&nbsp;&nbsp;Flowserve Corp. | 2564 | 188480 |
| &nbsp;&nbsp;&nbsp;Franklin Electric Co., Inc. | 4975 | 458546 |
| &nbsp;&nbsp;&nbsp;Gorman-Rupp Co. (The) | 2754 | 171106 |
| &nbsp;&nbsp;&nbsp;Graco, Inc. | 4511 | 381856 |
| &nbsp;&nbsp;&nbsp;Greenbrier Cos., Inc. (The) | 2663 | 140207 |
| &nbsp;&nbsp;&nbsp;Helios Technologies, Inc. | 2930 | 189600 |
| &nbsp;&nbsp;&nbsp;Hurco Cos., Inc. \* | 1000 | 14710 |
| &nbsp;&nbsp;&nbsp;Hyster-Yale, Inc. | 165 | 5364 |
| &nbsp;&nbsp;&nbsp;IDEX Corp. | 100 | 18955 |
| &nbsp;&nbsp;&nbsp;ITT, Inc. | 5131 | 977609 |
| &nbsp;&nbsp;&nbsp;Kadant, Inc. | 1029 | 300828 |
| &nbsp;&nbsp;&nbsp;Kennametal, Inc. | 3360 | 121397 |
| &nbsp;&nbsp;&nbsp;L.B. Foster Co., Class A \* | 1565 | 43664 |
| &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings, Inc. | 3365 | 838154 |
| &nbsp;&nbsp;&nbsp;Lindsay Corp. | 1109 | 132049 |
| &nbsp;&nbsp;&nbsp;Manitowoc Co., Inc. (The) \* | 3607 | 42022 |
| &nbsp;&nbsp;&nbsp;Middleby Corp. (The) \* | 2710 | 359292 |
| &nbsp;&nbsp;&nbsp;Miller Industries, Inc. | 1261 | 57439 |
| &nbsp;&nbsp;&nbsp;Mueller Industries, Inc. | 9528 | 1055702 |
| &nbsp;&nbsp;&nbsp;Mueller Water Products, Inc., Class A | 15406 | 423511 |
| &nbsp;&nbsp;&nbsp;Nordson Corp. | 494 | 131434 |
| &nbsp;&nbsp;&nbsp;Omega Flex, Inc. | 590 | 18314 |
| &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 4130 | 607977 |
| &nbsp;&nbsp;&nbsp;Park-Ohio Holdings Corp. | 2182 | 52455 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Machinery (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 11013 | $959342 |
| &nbsp;&nbsp;&nbsp;Perma-Pipe International Holdings, Inc. \* | 1900 | 56639 |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc. \* | 336 | 182488 |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | 631 | 229192 |
| &nbsp;&nbsp;&nbsp;SPX Technologies, Inc. \* | 4109 | 821554 |
| &nbsp;&nbsp;&nbsp;Standex International Corp. | 1107 | 282130 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | 2815 | 200034 |
| &nbsp;&nbsp;&nbsp;Tennant Co. | 1721 | 114274 |
| &nbsp;&nbsp;&nbsp;Terex Corp. | 6303 | 372507 |
| &nbsp;&nbsp;&nbsp;Timken Co. (The) | 6902 | 694134 |
| &nbsp;&nbsp;&nbsp;Titan International, Inc. \* | 4338 | 29976 |
| &nbsp;&nbsp;&nbsp;Toro Co. (The) | 3825 | 357408 |
| &nbsp;&nbsp;&nbsp;Trinity Industries, Inc. | 4908 | 157940 |
| &nbsp;&nbsp;&nbsp;Wabash National Corp. | 2121 | 18283 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Inc., Class A | 2360 | 685084 |
| &nbsp;&nbsp;&nbsp;Worthington Enterprises, Inc. | 4458 | 232440 |
|  |  | 17550740 |
| ***Marine Transportation — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;Costamare Bulkers Holdings Ltd. \* | 1145 | 17713 |
| &nbsp;&nbsp;&nbsp;Costamare, Inc. | 5728 | 96803 |
| &nbsp;&nbsp;&nbsp;Kirby Corp. \* | 4368 | 580420 |
| &nbsp;&nbsp;&nbsp;Matson, Inc. | 2963 | 485754 |
|  |  | 1180690 |
| ***Media — 1.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Boston Omaha Corp., Class A \* | 900 | 10512 |
| &nbsp;&nbsp;&nbsp;Cable One, Inc. \* | 179 | 16327 |
| &nbsp;&nbsp;&nbsp;DoubleVerify Holdings, Inc. \* | 9879 | 93850 |
| &nbsp;&nbsp;&nbsp;Entravision Communications Corp., Class A | 3329 | 9887 |
| &nbsp;&nbsp;&nbsp;EW Scripps Co. (The), Class A \* | 7073 | 26311 |
| &nbsp;&nbsp;&nbsp;Gray Media, Inc. | 8433 | 36599 |
| &nbsp;&nbsp;&nbsp;John Wiley & Sons, Inc., Class A | 2491 | 94907 |
| &nbsp;&nbsp;&nbsp;Liberty Broadband Corp., Class A \* | 824 | 41381 |
| &nbsp;&nbsp;&nbsp;Liberty Broadband Corp., Class C \* | 2320 | 116696 |
| &nbsp;&nbsp;&nbsp;Magnite, Inc. \* | 9743 | 115747 |
| &nbsp;&nbsp;&nbsp;New York Times Co. (The), Class A | 17457 | 1461675 |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | 19977 | 498027 |
| &nbsp;&nbsp;&nbsp;News Corp., Class B | 7188 | 204930 |
| &nbsp;&nbsp;&nbsp;Nexstar Media Group, Inc. | 2102 | 380105 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp., Class B | 2612 | 23560 |
| &nbsp;&nbsp;&nbsp;PubMatic, Inc., Class A \* | 1357 | 11100 |
| &nbsp;&nbsp;&nbsp;Saga Communications, Inc., Class A | 664 | 7769 |
| &nbsp;&nbsp;&nbsp;Scholastic Corp. @ | 1911 | 74644 |
| &nbsp;&nbsp;&nbsp;Sinclair, Inc. | 2014 | 26061 |
| &nbsp;&nbsp;&nbsp;Stagwell, Inc. \*@ | 8346 | 52496 |
| &nbsp;&nbsp;&nbsp;USA TODAY Co., Inc. \* | 5955 | 41983 |
|  |  | 3344567 |
| ***Metals & Mining — 1.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alcoa Corp. | 10907 | 723461 |
| &nbsp;&nbsp;&nbsp;Alpha Metallurgical Resources, Inc. \* | 796 | 163395 |
| &nbsp;&nbsp;&nbsp;American Battery Technology Co. \* | 3839 | 10711 |
| &nbsp;&nbsp;&nbsp;Caledonia Mining Corp. PLC | 722 | 16310 |
| &nbsp;&nbsp;&nbsp;Century Aluminum Co. \* | 8912 | 523045 |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc. \* | 10926 | 92325 |
| &nbsp;&nbsp;&nbsp;Coeur Mining, Inc. \* | 16461 | 308973 |
| &nbsp;&nbsp;&nbsp;Commercial Metals Co. | 12402 | 761855 |
| &nbsp;&nbsp;&nbsp;Compass Minerals International, Inc. \* | 2502 | 58422 |
| &nbsp;&nbsp;&nbsp;Fortitude Gold Corp. | 4671 | 23168 |
| &nbsp;&nbsp;&nbsp;Friedman Industries, Inc. | 700 | 12404 |
| &nbsp;&nbsp;&nbsp;Hecla Mining Co. | 30869 | 575089 |
| &nbsp;&nbsp;&nbsp;Kaiser Aluminum Corp. | 1901 | 229090 |
| &nbsp;&nbsp;&nbsp;Materion Corp. | 1832 | 264999 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;McEwen, Inc. \* | 3801 | $77616 |
| &nbsp;&nbsp;&nbsp;Metallus, Inc. \* | 3673 | 60017 |
| &nbsp;&nbsp;&nbsp;MP Materials Corp. \*@ | 4905 | 236715 |
| &nbsp;&nbsp;&nbsp;Nexa Resources SA | 2283 | 24177 |
| &nbsp;&nbsp;&nbsp;Ramaco Resources, Inc., Class A \* | 4076 | 63015 |
| &nbsp;&nbsp;&nbsp;Royal Gold, Inc. | 4068 | 1035265 |
| &nbsp;&nbsp;&nbsp;Ryerson Holding Corp. | 6667 | 149874 |
| &nbsp;&nbsp;&nbsp;SunCoke Energy, Inc. | 5320 | 34633 |
| &nbsp;&nbsp;&nbsp;Warrior Met Coal, Inc. | 738 | 68745 |
| &nbsp;&nbsp;&nbsp;Worthington Steel, Inc. | 3189 | 96786 |
|  |  | 5610090 |
| ***Multi-Utilities — 0.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Avista Corp. | 6896 | 276806 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 6023 | 418056 |
| &nbsp;&nbsp;&nbsp;Northwestern Energy Group, Inc. | 4148 | 273519 |
| &nbsp;&nbsp;&nbsp;Unitil Corp. | 1923 | 100458 |
|  |  | 1068839 |
| ***Oil, Gas & Consumable Fuels — 3.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Amplify Energy Corp. \* | 1867 | 11650 |
| &nbsp;&nbsp;&nbsp;Antero Midstream Corp. | 32353 | 737648 |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp. \* | 7435 | 315541 |
| &nbsp;&nbsp;&nbsp;APA Corp. | 6487 | 275308 |
| &nbsp;&nbsp;&nbsp;Ardmore Shipping Corp. | 1612 | 24583 |
| &nbsp;&nbsp;&nbsp;BKV Corp. \* | 4270 | 121780 |
| &nbsp;&nbsp;&nbsp;California Resources Corp. | 1759 | 121758 |
| &nbsp;&nbsp;&nbsp;Centrus Energy Corp., Class A \*@ | 1074 | 186436 |
| &nbsp;&nbsp;&nbsp;Chord Energy Corp. | 244 | 34692 |
| &nbsp;&nbsp;&nbsp;Clean Energy Fuels Corp. \* | 8095 | 20076 |
| &nbsp;&nbsp;&nbsp;CNX Resources Corp. \* | 16780 | 646869 |
| &nbsp;&nbsp;&nbsp;Comstock Resources, Inc. \*@ | 8676 | 182890 |
| &nbsp;&nbsp;&nbsp;Core Natural Resources, Inc. | 1743 | 182544 |
| &nbsp;&nbsp;&nbsp;Crescent Energy Co., Class A | 8076 | 109026 |
| &nbsp;&nbsp;&nbsp;CVR Energy, Inc. \* | 5284 | 177807 |
| &nbsp;&nbsp;&nbsp;DHT Holdings, Inc. | 11638 | 212626 |
| &nbsp;&nbsp;&nbsp;Dorian LPG Ltd. | 3332 | 113954 |
| &nbsp;&nbsp;&nbsp;DT Midstream, Inc. | 2684 | 361454 |
| &nbsp;&nbsp;&nbsp;Evolution Petroleum Corp. @ | 5356 | 24531 |
| &nbsp;&nbsp;&nbsp;Excelerate Energy, Inc., Class A | 460 | 15373 |
| &nbsp;&nbsp;&nbsp;Granite Ridge Resources, Inc. | 7696 | 45176 |
| &nbsp;&nbsp;&nbsp;Green Plains, Inc. \* | 4293 | 70620 |
| &nbsp;&nbsp;&nbsp;Gulfport Energy Corp. \* | 944 | 199722 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | 8792 | 548533 |
| &nbsp;&nbsp;&nbsp;International Seaways, Inc. | 4383 | 319433 |
| &nbsp;&nbsp;&nbsp;Kinetik Holdings, Inc. | 968 | 46861 |
| &nbsp;&nbsp;&nbsp;Kosmos Energy Ltd. \* | 21577 | 59984 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Corp., Class A | 7613 | 240342 |
| &nbsp;&nbsp;&nbsp;Matador Resources Co. | 10827 | 684050 |
| &nbsp;&nbsp;&nbsp;Murphy Oil Corp. | 7046 | 290648 |
| &nbsp;&nbsp;&nbsp;NACCO Industries, Inc., Class A | 533 | 27700 |
| &nbsp;&nbsp;&nbsp;Nordic American Tankers Ltd. @ | 11882 | 69629 |
| &nbsp;&nbsp;&nbsp;Northern Oil and Gas, Inc. | 4302 | 125747 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | 4259 | 252814 |
| &nbsp;&nbsp;&nbsp;Par Pacific Holdings, Inc. \* | 2616 | 163866 |
| &nbsp;&nbsp;&nbsp;PBF Energy, Inc., Class A | 6542 | 311530 |
| &nbsp;&nbsp;&nbsp;Peabody Energy Corp. | 5502 | 181291 |
| &nbsp;&nbsp;&nbsp;Permian Resources Corp., Class A | 20532 | 437742 |
| &nbsp;&nbsp;&nbsp;PrimeEnergy Resources Corp. \* | 123 | 28641 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | 10825 | 489074 |
| &nbsp;&nbsp;&nbsp;REX American Resources Corp. \* | 3102 | 141358 |
| &nbsp;&nbsp;&nbsp;Riley Exploration Permian, Inc. | 1228 | 44761 |
| &nbsp;&nbsp;&nbsp;SandRidge Energy, Inc. | 2175 | 35474 |
| &nbsp;&nbsp;&nbsp;Scorpio Tankers, Inc. | 3061 | 228534 |
| &nbsp;&nbsp;&nbsp;SFL Corp. Ltd. | 7801 | 84173 |
| &nbsp;&nbsp;&nbsp;SM Energy Co. | 4988 | 155526 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Oil, Gas & Consumable Fuels (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Talos Energy, Inc. \* | 10615 | $167292 |
| &nbsp;&nbsp;&nbsp;Teekay Corp. Ltd. | 5222 | 63761 |
| &nbsp;&nbsp;&nbsp;Teekay Tankers Ltd., Class A | 1880 | 137842 |
| &nbsp;&nbsp;&nbsp;Vaalco Energy, Inc. | 4333 | 27471 |
| &nbsp;&nbsp;&nbsp;Vitesse Energy, Inc. @ | 2544 | 46199 |
| &nbsp;&nbsp;&nbsp;World Kinect Corp. | 3183 | 73432 |
|  |  | 9675772 |
| ***Paper & Forest Products — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Clearwater Paper Corp. \* | 1838 | 26430 |
| &nbsp;&nbsp;&nbsp;Louisiana-Pacific Corp. | 6194 | 450614 |
| &nbsp;&nbsp;&nbsp;Mercer International, Inc. @ | 7857 | 11157 |
| &nbsp;&nbsp;&nbsp;Resolute Forest Products, Inc. CVR \*¶§ | 7629 |  |
| &nbsp;&nbsp;&nbsp;Sylvamo Corp. | 2483 | 104882 |
|  |  | 593083 |
| ***Passenger Airlines — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aduro Biotech, Inc. CVR \*¶§ | 237 |  |
| &nbsp;&nbsp;&nbsp;Alaska Air Group, Inc. \* | 3915 | 143994 |
| &nbsp;&nbsp;&nbsp;Allegiant Travel Co. \* | 441 | 35739 |
| &nbsp;&nbsp;&nbsp;American Airlines Group, Inc. \* | 12202 | 131049 |
| &nbsp;&nbsp;&nbsp;SkyWest, Inc. \* | 3627 | 333067 |
|  |  | 643849 |
| ***Personal Products — 0.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;BellRing Brands, Inc. \* | 7482 | 120385 |
| &nbsp;&nbsp;&nbsp;Coty, Inc., Class A \* | 16435 | 33034 |
| &nbsp;&nbsp;&nbsp;Edgewell Personal Care Co. | 1025 | 21874 |
| &nbsp;&nbsp;&nbsp;elf Beauty, Inc. \* | 4063 | 246258 |
| &nbsp;&nbsp;&nbsp;Herbalife Ltd. \* | 4709 | 69317 |
| &nbsp;&nbsp;&nbsp;Honest Co., Inc. (The) \* | 3674 | 10802 |
| &nbsp;&nbsp;&nbsp;Interparfums, Inc. | 2826 | 256714 |
| &nbsp;&nbsp;&nbsp;Medifast, Inc. \*@ | 1290 | 13145 |
| &nbsp;&nbsp;&nbsp;Nature's Sunshine Products, Inc. \* | 1700 | 40783 |
| &nbsp;&nbsp;&nbsp;Nu Skin Enterprises, Inc., Class A | 1892 | 13774 |
| &nbsp;&nbsp;&nbsp;USANA Health Sciences, Inc. \* | 2205 | 38521 |
|  |  | 864607 |
| ***Pharmaceuticals — 1.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aclaris Therapeutics, Inc. \* | 3657 | 13714 |
| &nbsp;&nbsp;&nbsp;Amphastar Pharmaceuticals, Inc. \* | 5315 | 104121 |
| &nbsp;&nbsp;&nbsp;Amylyx Pharmaceuticals, Inc. \* | 2673 | 37155 |
| &nbsp;&nbsp;&nbsp;ANI Pharmaceuticals, Inc. \* | 1669 | 128346 |
| &nbsp;&nbsp;&nbsp;Arvinas, Inc. \* | 2564 | 27178 |
| &nbsp;&nbsp;&nbsp;Atea Pharmaceuticals, Inc. \* | 3390 | 18238 |
| &nbsp;&nbsp;&nbsp;BioAge Labs, Inc. \* | 1230 | 21513 |
| &nbsp;&nbsp;&nbsp;Collegium Pharmaceutical, Inc. \* | 2590 | 85651 |
| &nbsp;&nbsp;&nbsp;Corcept Therapeutics, Inc. \* | 7842 | 316111 |
| &nbsp;&nbsp;&nbsp;Edgewise Therapeutics, Inc. \* | 3194 | 100611 |
| &nbsp;&nbsp;&nbsp;Elanco Animal Health, Inc. \* | 13501 | 323079 |
| &nbsp;&nbsp;&nbsp;Enliven Therapeutics, Inc. \* | 2723 | 106741 |
| &nbsp;&nbsp;&nbsp;Fulcrum Therapeutics, Inc. \* | 3048 | 23378 |
| &nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings, Inc. \* | 3662 | 102573 |
| &nbsp;&nbsp;&nbsp;Harrow, Inc. \* | 627 | 22108 |
| &nbsp;&nbsp;&nbsp;Innoviva, Inc. \* | 5963 | 138938 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC \* | 2825 | 534066 |
| &nbsp;&nbsp;&nbsp;LENZ Therapeutics, Inc. \*@ | 446 | 4081 |
| &nbsp;&nbsp;&nbsp;Ligand Pharmaceuticals, Inc. \* | 1727 | 344795 |
| &nbsp;&nbsp;&nbsp;Ocular Therapeutix, Inc. \* | 11226 | 95084 |
| &nbsp;&nbsp;&nbsp;Omeros Corp. \* | 962 | 10159 |
| &nbsp;&nbsp;&nbsp;Organon & Co. | 1332 | 7979 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **VALUE†** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Pacira BioSciences, Inc. \* | 2431 | $| 54941 |
| &nbsp;&nbsp;&nbsp;Perrigo Co. PLC | 8947 |  | 96091 |
| &nbsp;&nbsp;&nbsp;Phibro Animal Health Corp., Class A | 922 |  | 50996 |
| &nbsp;&nbsp;&nbsp;Prestige Consumer Healthcare, Inc. \* | 5152 |  | 305359 |
| &nbsp;&nbsp;&nbsp;Rapport Therapeutics, Inc. \* | 1648 |  | 51566 |
| &nbsp;&nbsp;&nbsp;SIGA Technologies, Inc. | 5422 |  | 29008 |
| &nbsp;&nbsp;&nbsp;Supernus Pharmaceuticals, Inc. \* | 5158 |  | 266617 |
| &nbsp;&nbsp;&nbsp;Theravance Biopharma, Inc. \*@ | 1706 |  | 27688 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. | 10266 |  | 138694 |
| &nbsp;&nbsp;&nbsp;Zevra Therapeutics, Inc. \*@ | 2122 |  | 19777 |
|  |  |  | 3606356 |
| ***Professional Services — 1.7%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;Amentum Holdings, Inc. \* | 16 |  | 417 |
| &nbsp;&nbsp;&nbsp;Barrett Business Services, Inc. | 3196 |  | 93259 |
| &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corp. | 1027 |  | 80137 |
| &nbsp;&nbsp;&nbsp;CACI International, Inc., Class A \* | 1409 |  | 766313 |
| &nbsp;&nbsp;&nbsp;Concentrix Corp. | 1636 |  | 44761 |
| &nbsp;&nbsp;&nbsp;CRA International, Inc. | 567 |  | 91786 |
| &nbsp;&nbsp;&nbsp;ExlService Holdings, Inc. \* | 13901 |  | 423286 |
| &nbsp;&nbsp;&nbsp;Exponent, Inc. | 4607 |  | 300607 |
| &nbsp;&nbsp;&nbsp;Franklin Covey Co. \*@ | 1628 |  | 25706 |
| &nbsp;&nbsp;&nbsp;FTI Consulting, Inc. \* | 3603 |  | 636902 |
| &nbsp;&nbsp;&nbsp;Genpact Ltd. | 9689 |  | 360915 |
| &nbsp;&nbsp;&nbsp;Huron Consulting Group, Inc. \* | 1957 |  | 249498 |
| &nbsp;&nbsp;&nbsp;ICF International, Inc. | 2012 |  | 131364 |
| &nbsp;&nbsp;&nbsp;Insperity, Inc. | 3407 |  | 92125 |
| &nbsp;&nbsp;&nbsp;KBR, Inc. | 12616 |  | 465026 |
| &nbsp;&nbsp;&nbsp;Kforce, Inc. | 1735 |  | 50731 |
| &nbsp;&nbsp;&nbsp;Korn Ferry | 4964 |  | 312484 |
| &nbsp;&nbsp;&nbsp;Mastech Digital, Inc. \* | 2122 |  | 12074 |
| &nbsp;&nbsp;&nbsp;Maximus, Inc. | 2874 |  | 184224 |
| &nbsp;&nbsp;&nbsp;Parsons Corp. \* | 1549 |  | 83909 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | 332 |  | 40351 |
| &nbsp;&nbsp;&nbsp;Paylocity Holding Corp. \* | 2396 |  | 258864 |
| &nbsp;&nbsp;&nbsp;RCM Technologies, Inc. \* | 1296 |  | 24806 |
| &nbsp;&nbsp;&nbsp;Robert Half, Inc. | 4511 |  | 114579 |
| &nbsp;&nbsp;&nbsp;Science Applications International Corp. | 2559 |  | 242900 |
| &nbsp;&nbsp;&nbsp;TIC Solutions, Inc. \*@ | 7383 |  | 48580 |
| &nbsp;&nbsp;&nbsp;TriNet Group, Inc. | 3424 |  | 124736 |
| &nbsp;&nbsp;&nbsp;TrueBlue, Inc. \* | 3431 |  | 13415 |
| &nbsp;&nbsp;&nbsp;Verra Mobility Corp. \* | 10023 |  | 143229 |
|  |  |  | 5416984 |
| ***Real Estate Management & Development — 0.8%*** | ***Real Estate Management & Development — 0.8%*** | ***Real Estate Management & Development — 0.8%*** | ***Real Estate Management & Development — 0.8%*** |
| &nbsp;&nbsp;&nbsp;Compass, Inc., Class A \* | 7090 |  | 51828 |
| &nbsp;&nbsp;&nbsp;Cushman & Wakefield Ltd. \* | 15008 |  | 183998 |
| &nbsp;&nbsp;&nbsp;Douglas Elliman, Inc. \* | 8113 |  | 13305 |
| &nbsp;&nbsp;&nbsp;eXp World Holdings, Inc. | 7721 |  | 46249 |
| &nbsp;&nbsp;&nbsp;Forestar Group, Inc. \* | 3530 |  | 86273 |
| &nbsp;&nbsp;&nbsp;FRP Holdings, Inc. \* | 400 |  | 8752 |
| &nbsp;&nbsp;&nbsp;Howard Hughes Holdings, Inc. \* | 1369 |  | 86603 |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc. \* | 3879 |  | 1180457 |
| &nbsp;&nbsp;&nbsp;Kennedy-Wilson Holdings, Inc. | 7231 |  | 78239 |
| &nbsp;&nbsp;&nbsp;Marcus & Millichap, Inc. | 2459 |  | 65385 |
| &nbsp;&nbsp;&nbsp;Maui Land & Pineapple Co., Inc. \* | 293 |  | 4509 |
| &nbsp;&nbsp;&nbsp;Newmark Group, Inc., Class A | 11400 |  | 170886 |
| &nbsp;&nbsp;&nbsp;Seaport Entertainment Group, Inc. \*@ | 344 |  | 7389 |
| &nbsp;&nbsp;&nbsp;St. Joe Co. (The) | 3300 |  | 207240 |
| &nbsp;&nbsp;&nbsp;Stratus Properties, Inc. \*@ | 313 |  | 9553 |
| &nbsp;&nbsp;&nbsp;Tejon Ranch Co. \*@ | 2249 |  | 42371 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Real Estate Management & Development (Continued)*** | ***Real Estate Management & Development (Continued)*** | ***Real Estate Management & Development (Continued)*** |
| &nbsp;&nbsp;&nbsp;Zillow Group, Inc., Class C \* | 3388 | 140196 |
|  |  | 2383233 |
| ***Semiconductors & Semiconductor Equipment — 2.9%*** | ***Semiconductors & Semiconductor Equipment — 2.9%*** | ***Semiconductors & Semiconductor Equipment — 2.9%*** |
| &nbsp;&nbsp;&nbsp;ACM Research, Inc., Class A \* | 3338 | 131350 |
| &nbsp;&nbsp;&nbsp;Allegro MicroSystems, Inc. \* | 1272 | 40106 |
| &nbsp;&nbsp;&nbsp;Alpha & Omega Semiconductor Ltd. \* | 2886 | 63954 |
| &nbsp;&nbsp;&nbsp;Ambarella, Inc. \* | 2233 | 114944 |
| &nbsp;&nbsp;&nbsp;Amkor Technology, Inc. | 24529 | 1104541 |
| &nbsp;&nbsp;&nbsp;Amtech Systems, Inc. \* | 2822 | 32961 |
| &nbsp;&nbsp;&nbsp;Axcelis Technologies, Inc. \* | 3412 | 317589 |
| &nbsp;&nbsp;&nbsp;CEVA, Inc. \* | 3095 | 57814 |
| &nbsp;&nbsp;&nbsp;Cirrus Logic, Inc. \* | 3204 | 463362 |
| &nbsp;&nbsp;&nbsp;Cohu, Inc. \* | 3788 | 115988 |
| &nbsp;&nbsp;&nbsp;Diodes, Inc. \* | 4900 | 334474 |
| &nbsp;&nbsp;&nbsp;Enphase Energy, Inc. \* | 2985 | 112863 |
| &nbsp;&nbsp;&nbsp;FormFactor, Inc. \* | 8126 | 788141 |
| &nbsp;&nbsp;&nbsp;GSI Technology, Inc. \* | 1572 | 8080 |
| &nbsp;&nbsp;&nbsp;Ichor Holdings Ltd. \* | 2113 | 98487 |
| &nbsp;&nbsp;&nbsp;Kulicke & Soffa Industries, Inc. | 5924 | 389325 |
| &nbsp;&nbsp;&nbsp;Lattice Semiconductor Corp. \* | 5018 | 465470 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc. \* | 2196 | 487666 |
| &nbsp;&nbsp;&nbsp;MaxLinear, Inc. \* | 4869 | 84672 |
| &nbsp;&nbsp;&nbsp;MKS, Inc. | 150 | 34471 |
| &nbsp;&nbsp;&nbsp;NVE Corp. | 256 | 16768 |
| &nbsp;&nbsp;&nbsp;Onto Innovation, Inc. \* | 4274 | 876469 |
| &nbsp;&nbsp;&nbsp;PDF Solutions, Inc. \* | 4938 | 161522 |
| &nbsp;&nbsp;&nbsp;Penguin Solutions, Inc. \* | 2116 | 37242 |
| &nbsp;&nbsp;&nbsp;Photronics, Inc. \* | 7008 | 283193 |
| &nbsp;&nbsp;&nbsp;Power Integrations, Inc. @ | 6164 | 315597 |
| &nbsp;&nbsp;&nbsp;Qorvo, Inc. \* | 2760 | 213624 |
| &nbsp;&nbsp;&nbsp;Rambus, Inc. \* | 9260 | 796638 |
| &nbsp;&nbsp;&nbsp;Silicon Laboratories, Inc. \* | 378 | 78681 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions, Inc. | 2640 | 141372 |
| &nbsp;&nbsp;&nbsp;Synaptics, Inc. \* | 4162 | 291506 |
| &nbsp;&nbsp;&nbsp;Teradyne, Inc. | 267 | 79155 |
| &nbsp;&nbsp;&nbsp;Ultra Clean Holdings, Inc. \* | 4298 | 267250 |
| &nbsp;&nbsp;&nbsp;Universal Display Corp. | 2218 | 203302 |
| &nbsp;&nbsp;&nbsp;Veeco Instruments, Inc. \* | 3448 | 116749 |
|  |  | 9125326 |
| ***Software — 2.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;A10 Networks, Inc. | 4234 | 97890 |
| &nbsp;&nbsp;&nbsp;ACI Worldwide, Inc. \* | 8881 | 364210 |
| &nbsp;&nbsp;&nbsp;Adeia, Inc. | 7577 | 182075 |
| &nbsp;&nbsp;&nbsp;Agilysys, Inc. \* | 1168 | 83091 |
| &nbsp;&nbsp;&nbsp;Alarm.com Holdings, Inc. \* | 3211 | 138683 |
| &nbsp;&nbsp;&nbsp;Amplitude, Inc., Class A \* | 1485 | 10128 |
| &nbsp;&nbsp;&nbsp;Appfolio, Inc., Class A \* | 236 | 37246 |
| &nbsp;&nbsp;&nbsp;AvePoint, Inc. \* | 11831 | 112513 |
| &nbsp;&nbsp;&nbsp;Bentley Systems, Inc., Class B | 4082 | 143360 |
| &nbsp;&nbsp;&nbsp;Bill Holdings, Inc. \* | 2276 | 87171 |
| &nbsp;&nbsp;&nbsp;Blackbaud, Inc. \* | 5719 | 220811 |
| &nbsp;&nbsp;&nbsp;BlackLine, Inc. \* | 2345 | 86765 |
| &nbsp;&nbsp;&nbsp;Box, Inc., Class A \* | 6867 | 162336 |
| &nbsp;&nbsp;&nbsp;Braze, Inc., Class A \* | 3620 | 85468 |
| &nbsp;&nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc. \* | 32598 | 195588 |
| &nbsp;&nbsp;&nbsp;Cleanspark, Inc. \*@ | 17765 | 151180 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc. \* | 2675 | 208356 |
| &nbsp;&nbsp;&nbsp;Consensus Cloud Solutions, Inc. \* | 1449 | 34399 |
| &nbsp;&nbsp;&nbsp;CS Disco, Inc. \* | 2700 | 10314 |
| &nbsp;&nbsp;&nbsp;Daily Journal Corp. \* | 79 | 38105 |
| &nbsp;&nbsp;&nbsp;Digital Turbine, Inc. \* | 3600 | 10368 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;DocuSign, Inc. \* | 5112 | $242360 |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Inc., Class A | 2819 | 169309 |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A \* | 14286 | 324578 |
| &nbsp;&nbsp;&nbsp;Dynatrace, Inc. \* | 7032 | 260043 |
| &nbsp;&nbsp;&nbsp;eGain Corp. \*@ | 4304 | 33959 |
| &nbsp;&nbsp;&nbsp;Five9, Inc. \* | 2480 | 37622 |
| &nbsp;&nbsp;&nbsp;Freshworks, Inc., Class A \* | 12145 | 97524 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | 15392 | 289831 |
| &nbsp;&nbsp;&nbsp;I3 Verticals, Inc., Class A \*@ | 1470 | 32869 |
| &nbsp;&nbsp;&nbsp;Intapp, Inc. \* | 786 | 20192 |
| &nbsp;&nbsp;&nbsp;InterDigital, Inc. @ | 2792 | 843184 |
| &nbsp;&nbsp;&nbsp;JFrog Ltd. \* | 479 | 22479 |
| &nbsp;&nbsp;&nbsp;LiveRamp Holdings, Inc. \* | 7539 | 199934 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc. \* | 933 | 124201 |
| &nbsp;&nbsp;&nbsp;Mitek Systems, Inc. \* | 2032 | 27432 |
| &nbsp;&nbsp;&nbsp;N-able, Inc. \* | 4901 | 22888 |
| &nbsp;&nbsp;&nbsp;NCR Voyix Corp. \*@ | 7378 | 46703 |
| &nbsp;&nbsp;&nbsp;Nutanix, Inc., Class A \* | 4180 | 158882 |
| &nbsp;&nbsp;&nbsp;OneSpan, Inc. | 2012 | 21186 |
| &nbsp;&nbsp;&nbsp;Ooma, Inc. \* | 1297 | 18871 |
| &nbsp;&nbsp;&nbsp;Pegasystems, Inc. | 3211 | 136660 |
| &nbsp;&nbsp;&nbsp;Porch Group, Inc. \* | 2556 | 18327 |
| &nbsp;&nbsp;&nbsp;Progress Software Corp. \* | 4129 | 105909 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings, Inc. \* | 3318 | 156941 |
| &nbsp;&nbsp;&nbsp;Qualys, Inc. \* | 3876 | 340507 |
| &nbsp;&nbsp;&nbsp;Red Violet, Inc. \* | 398 | 13771 |
| &nbsp;&nbsp;&nbsp;RingCentral, Inc., Class A | 2942 | 109413 |
| &nbsp;&nbsp;&nbsp;SentinelOne, Inc., Class A \* | 5750 | 74060 |
| &nbsp;&nbsp;&nbsp;Sprinklr, Inc., Class A \* | 5759 | 34554 |
| &nbsp;&nbsp;&nbsp;Telos Corp. \* | 2908 | 12185 |
| &nbsp;&nbsp;&nbsp;Tenable Holdings, Inc. \* | 4998 | 84541 |
| &nbsp;&nbsp;&nbsp;Teradata Corp. \* | 2927 | 75019 |
| &nbsp;&nbsp;&nbsp;UiPath, Inc., Class A \*@ | 10245 | 113719 |
| &nbsp;&nbsp;&nbsp;Unity Software, Inc. \* | 2579 | 56583 |
| &nbsp;&nbsp;&nbsp;Varonis Systems, Inc. \* | 1805 | 38753 |
| &nbsp;&nbsp;&nbsp;Vertex, Inc., Class A \* | 1558 | 18525 |
| &nbsp;&nbsp;&nbsp;Xperi, Inc. \* | 1897 | 10623 |
| &nbsp;&nbsp;&nbsp;Yext, Inc. \* | 4488 | 17234 |
|  |  | 6871428 |
| ***Specialty Retail — 2.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;1-800-Flowers.com, Inc., Class A \*@ | 3880 | 11795 |
| &nbsp;&nbsp;&nbsp;Abercrombie & Fitch Co., Class A \* | 3727 | 340536 |
| &nbsp;&nbsp;&nbsp;Academy Sports & Outdoors, Inc. | 3337 | 188374 |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc. @ | 1417 | 74747 |
| &nbsp;&nbsp;&nbsp;America's Car-Mart, Inc. \*@ | 822 | 10464 |
| &nbsp;&nbsp;&nbsp;American Eagle Outfitters, Inc. | 10882 | 181729 |
| &nbsp;&nbsp;&nbsp;Arhaus, Inc. @ | 1177 | 7980 |
| &nbsp;&nbsp;&nbsp;Arko Corp. | 4200 | 23352 |
| &nbsp;&nbsp;&nbsp;Asbury Automotive Group, Inc. \* | 2143 | 418764 |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc. \* | 4060 | 792756 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | 5771 | 107745 |
| &nbsp;&nbsp;&nbsp;Boot Barn Holdings, Inc. \* | 2603 | 380975 |
| &nbsp;&nbsp;&nbsp;Buckle, Inc. (The) | 5018 | 252706 |
| &nbsp;&nbsp;&nbsp;Build-A-Bear Workshop, Inc. @ | 1640 | 61418 |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc. \* | 174 | 56616 |
| &nbsp;&nbsp;&nbsp;Caleres, Inc. | 3874 | 40832 |
| &nbsp;&nbsp;&nbsp;Camping World Holdings, Inc., Class A | 976 | 6666 |
| &nbsp;&nbsp;&nbsp;CarMax, Inc. \* | 4370 | 181705 |
| &nbsp;&nbsp;&nbsp;Citi Trends, Inc. \* | 818 | 35436 |
| &nbsp;&nbsp;&nbsp;Five Below, Inc. \* | 5505 | 1257782 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A \* | 4489 | 228041 |
| &nbsp;&nbsp;&nbsp;GameStop Corp., Class A \* | 752 | 17326 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. (The) | 6158 | 149024 |
| &nbsp;&nbsp;&nbsp;Genesco, Inc. \* | 1490 | 43195 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA U.S. Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Specialty Retail (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc. | 1103 | $364685 |
| &nbsp;&nbsp;&nbsp;Haverty Furniture Cos., Inc. | 1983 | 42000 |
| &nbsp;&nbsp;&nbsp;Lands' End, Inc. \* | 1405 | 15792 |
| &nbsp;&nbsp;&nbsp;Lithia Motors, Inc. | 1581 | 394807 |
| &nbsp;&nbsp;&nbsp;MarineMax, Inc. \* | 2209 | 59775 |
| &nbsp;&nbsp;&nbsp;Monro, Inc. | 3090 | 49564 |
| &nbsp;&nbsp;&nbsp;Murphy USA, Inc. | 1712 | 845677 |
| &nbsp;&nbsp;&nbsp;National Vision Holdings, Inc. \* | 5547 | 143667 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group, Inc. | 1742 | 260464 |
| &nbsp;&nbsp;&nbsp;Petco Health & Wellness Co., Inc. \* | 12117 | 33685 |
| &nbsp;&nbsp;&nbsp;Revolve Group, Inc. \* | 1546 | 34955 |
| &nbsp;&nbsp;&nbsp;RH \* | 318 | 44463 |
| &nbsp;&nbsp;&nbsp;Sally Beauty Holdings, Inc. \* | 5784 | 80108 |
| &nbsp;&nbsp;&nbsp;Shoe Carnival, Inc. | 3062 | 47737 |
| &nbsp;&nbsp;&nbsp;Signet Jewelers Ltd. | 4741 | 401278 |
| &nbsp;&nbsp;&nbsp;Sleep Number Corp. \*@ | 3221 | 5782 |
| &nbsp;&nbsp;&nbsp;Sonic Automotive, Inc., Class A | 1991 | 136523 |
| &nbsp;&nbsp;&nbsp;Stitch Fix, Inc., Class A \* | 2412 | 7984 |
| &nbsp;&nbsp;&nbsp;Upbound Group, Inc. | 6271 | 113192 |
| &nbsp;&nbsp;&nbsp;Urban Outfitters, Inc. \* | 2086 | 132148 |
| &nbsp;&nbsp;&nbsp;Valvoline, Inc. \* | 6915 | 232897 |
| &nbsp;&nbsp;&nbsp;Victoria's Secret & Co. \* | 2940 | 136298 |
| &nbsp;&nbsp;&nbsp;Warby Parker, Inc., Class A \* | 5607 | 118139 |
| &nbsp;&nbsp;&nbsp;Wayfair, Inc., Class A \* | 665 | 50015 |
| &nbsp;&nbsp;&nbsp;Winmark Corp. | 455 | 194535 |
| &nbsp;&nbsp;&nbsp;Zumiez, Inc. \* | 2406 | 53317 |
|  |  | 8869451 |
| ***Textiles, Apparel & Luxury Goods — 1.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Birkenstock Holding PLC \*@ | 260 | 9316 |
| &nbsp;&nbsp;&nbsp;Capri Holdings Ltd. \* | 5196 | 91553 |
| &nbsp;&nbsp;&nbsp;Carter's, Inc. | 2563 | 91653 |
| &nbsp;&nbsp;&nbsp;Columbia Sportswear Co. | 3476 | 190520 |
| &nbsp;&nbsp;&nbsp;Figs, Inc., Class A \* | 8577 | 126682 |
| &nbsp;&nbsp;&nbsp;G-III Apparel Group Ltd. | 5008 | 138722 |
| &nbsp;&nbsp;&nbsp;Kontoor Brands, Inc. | 2384 | 167571 |
| &nbsp;&nbsp;&nbsp;Lakeland Industries, Inc. @ | 1669 | 13669 |
| &nbsp;&nbsp;&nbsp;Movado Group, Inc. | 2220 | 54212 |
| &nbsp;&nbsp;&nbsp;Oxford Industries, Inc. | 1665 | 64119 |
| &nbsp;&nbsp;&nbsp;PVH Corp. | 3071 | 214233 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | 2279 | 783953 |
| &nbsp;&nbsp;&nbsp;Rocky Brands, Inc. | 1000 | 38720 |
| &nbsp;&nbsp;&nbsp;Steven Madden Ltd. | 6355 | 215562 |
| &nbsp;&nbsp;&nbsp;Superior Group of Cos., Inc. | 2200 | 22352 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | 10048 | 1417873 |
| &nbsp;&nbsp;&nbsp;Under Armour, Inc., Class A \*@ | 13534 | 79986 |
| &nbsp;&nbsp;&nbsp;Under Armour, Inc., Class C \* | 11329 | 65595 |
| &nbsp;&nbsp;&nbsp;Unifi, Inc. \* | 2394 | 8547 |
| &nbsp;&nbsp;&nbsp;VF Corp. | 1731 | 29410 |
| &nbsp;&nbsp;&nbsp;Wolverine World Wide, Inc. | 3821 | 62359 |
|  |  | 3886607 |
| ***Tobacco — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Turning Point Brands, Inc. | 1280 | 111091 |
| &nbsp;&nbsp;&nbsp;Universal Corp. | 2612 | 137653 |
|  |  | 248744 |
| ***Trading Companies & Distributors — 1.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 648 | 42081 |
| &nbsp;&nbsp;&nbsp;Applied Industrial Technologies, Inc. | 2291 | 607848 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Boise Cascade Co. | 3680 | $279128 |
| &nbsp;&nbsp;&nbsp;Core & Main, Inc., Class A \* | 2709 | 133825 |
| &nbsp;&nbsp;&nbsp;Distribution Solutions Group, Inc. \* | 224 | 5878 |
| &nbsp;&nbsp;&nbsp;DNOW, Inc. \* | 10313 | 122828 |
| &nbsp;&nbsp;&nbsp;DXP Enterprises, Inc. \* | 1824 | 254867 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 3309 | 564979 |
| &nbsp;&nbsp;&nbsp;Global Industrial Co. | 3303 | 104110 |
| &nbsp;&nbsp;&nbsp;Herc Holdings, Inc. | 1323 | 131705 |
| &nbsp;&nbsp;&nbsp;MSC Industrial Direct Co., Inc., Class A | 936 | 86365 |
| &nbsp;&nbsp;&nbsp;NPK International, Inc. \* | 5904 | 85549 |
| &nbsp;&nbsp;&nbsp;Rush Enterprises, Inc., Class A | 6868 | 454043 |
| &nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc. \* | 413 | 54974 |
| &nbsp;&nbsp;&nbsp;Titan Machinery, Inc. \* | 2515 | 42051 |
| &nbsp;&nbsp;&nbsp;WESCO International, Inc. | 4569 | 1250170 |
| &nbsp;&nbsp;&nbsp;Willis Lease Finance Corp. | 605 | 103007 |
|  |  | 4323408 |
| ***Water Utilities — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;American States Water Co. | 4082 | 308681 |
| &nbsp;&nbsp;&nbsp;Artesian Resources Corp., Class A | 1177 | 37487 |
| &nbsp;&nbsp;&nbsp;California Water Service Group | 6097 | 276438 |
| &nbsp;&nbsp;&nbsp;Consolidated Water Co. Ltd. | 1751 | 57993 |
| &nbsp;&nbsp;&nbsp;Essential Utilities, Inc. | 8329 | 335409 |
| &nbsp;&nbsp;&nbsp;H2O America | 2989 | 175365 |
| &nbsp;&nbsp;&nbsp;Middlesex Water Co. | 2133 | 111023 |
| &nbsp;&nbsp;&nbsp;Pure Cycle Corp. \* | 1000 | 10060 |
| &nbsp;&nbsp;&nbsp;York Water Co. (The) | 1803 | 54901 |
|  |  | 1367357 |
| ***Wireless Telecommunication Services — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Array Digital Infrastructure, Inc. | 1551 | 71563 |
| &nbsp;&nbsp;&nbsp;Gogo, Inc. \* | 2738 | 11007 |
| &nbsp;&nbsp;&nbsp;Spok Holdings, Inc. | 2839 | 30945 |
|  |  | 113515 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCKS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $141,995,092) |  | 313506274 |
| **RIGHTS AND WARRANTS — 0.0%** |  |  |
| ***Computers & Peripherals — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Xerox Holdings Corp. \* | 2515 | 228 |
| ***Specialty Retail — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;GameStop Corp. \* | 75 | 289 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL RIGHTS AND WARRANTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $0) |  | 517 |
| **SHORT-TERM INVESTMENTS — 0.7%** |  |  |
| ***Investment Company — 0.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% | 848511 | 848511 |
| ***Collateral For Securities On Loan — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Government Money Market Portfolio 3.680% | 1309954 | 1309954 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $2,158,465) |  | 2158465 |
| **Total Investments — 100.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Identified Cost $144,153,557)** |  | **315665256** |
| &nbsp;&nbsp;&nbsp;Liabilities in excess of Cash and Other Assets — (0.4%) |  | (1136411) |
| **Net Assets — 100.0%** |  | $**314528845** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† See Note 1

\* Non-income producing security

---

| | |
|:---|:---|
| @ | A portion or all of the security was held on loan. As of March 31, 2026, the fair value of the securities on loan was $7,729,274. |

---

¶ Contingent value rights based on future performance.

§ Fair valued security. Security is valued using significant unobservable inputs as determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1

Key to abbreviations:

CVR — Contingent Value Rights

*The accompanying notes are an integral part of these portfolio of investments.*

**SA International Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS — 98.1%** |  |  |
| ***Australia — 6.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings Ltd. | 150141 | $3726125 |
| &nbsp;&nbsp;&nbsp;Aurizon Holdings Ltd. | 187962 | 514847 |
| &nbsp;&nbsp;&nbsp;Bendigo & Adelaide Bank Ltd. | 20521 | 140027 |
| &nbsp;&nbsp;&nbsp;BlueScope Steel Ltd. | 103358 | 1834141 |
| &nbsp;&nbsp;&nbsp;Challenger Ltd. | 54241 | 309867 |
| &nbsp;&nbsp;&nbsp;Dyno Nobel Ltd. | 195063 | 419901 |
| &nbsp;&nbsp;&nbsp;Endeavour Group Ltd. @ | 60152 | 135296 |
| &nbsp;&nbsp;&nbsp;Fortescue Ltd. @ | 90885 | 1273561 |
| &nbsp;&nbsp;&nbsp;Harvey Norman Holdings Ltd. @ | 136089 | 462901 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. @ | 149199 | 4265829 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources Ltd. | 29320 | 411869 |
| &nbsp;&nbsp;&nbsp;Orica Ltd. | 50333 | 696629 |
| &nbsp;&nbsp;&nbsp;Origin Energy Ltd. | 168307 | 1437608 |
| &nbsp;&nbsp;&nbsp;Perseus Mining Ltd. | 69066 | 245408 |
| &nbsp;&nbsp;&nbsp;QBE Insurance Group Ltd. | 127828 | 1872379 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Ltd. @ | 23574 | 2625640 |
| &nbsp;&nbsp;&nbsp;Sandfire Resources Ltd. \* | 13466 | 148933 |
| &nbsp;&nbsp;&nbsp;Santos Ltd. | 512778 | 2816179 |
| &nbsp;&nbsp;&nbsp;Sonic Healthcare Ltd. | 54564 | 769870 |
| &nbsp;&nbsp;&nbsp;South32 Ltd. | 593528 | 1748585 |
| &nbsp;&nbsp;&nbsp;Suncorp Group Ltd. | 130499 | 1454111 |
| &nbsp;&nbsp;&nbsp;TPG Telecom Ltd. | 43138 | 119648 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. @ | 209812 | 5713670 |
| &nbsp;&nbsp;&nbsp;Whitehaven Coal Ltd. | 99731 | 636487 |
| &nbsp;&nbsp;&nbsp;Woodside Energy Group Ltd. @ | 134304 | 3247841 |
| &nbsp;&nbsp;&nbsp;Worley Ltd. | 30039 | 232332 |
| &nbsp;&nbsp;&nbsp;Yancoal Australia Ltd. @ | 73145 | 418367 |
|  |  | 37678051 |
| ***Austria — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Erste Group Bank AG | 1782 | 190525 |
| &nbsp;&nbsp;&nbsp;OMV AG | 8855 | 646855 |
|  |  | 837380 |
| ***Belgium — 0.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Ageas SA | 21755 | 1585425 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev SA | 22678 | 1565403 |
| &nbsp;&nbsp;&nbsp;KBC Group NV | 10904 | 1317054 |
|  |  | 4467882 |
| ***Canada — 10.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;AltaGas Ltd. @ | 24518 | 850401 |
| &nbsp;&nbsp;&nbsp;ARC Resources Ltd. @ | 33370 | 694459 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 50160 | 6788654 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 1424 | 192876 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia (The) @ | 59376 | 4115351 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia (The) | 18436 | 1278500 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 56832 | 5386191 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City Ltd. | 6998 | 550463 |
| &nbsp;&nbsp;&nbsp;Canadian Tire Corp. Ltd., Class A @ | 240 | 32276 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. | 144903 | 3844277 |
| &nbsp;&nbsp;&nbsp;Empire Co. Ltd., Class A | 2283 | 81778 |
| &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | 2277 | 3879821 |
| &nbsp;&nbsp;&nbsp;First Quantum Minerals Ltd. \* | 25434 | 608105 |
| &nbsp;&nbsp;&nbsp;iA Financial Corp., Inc. | 14160 | 1571433 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | 90884 | 2778590 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | 1 | 31 |
| &nbsp;&nbsp;&nbsp;Lundin Mining Corp. | 100467 | 2505356 |
| &nbsp;&nbsp;&nbsp;Magna International, Inc. | 32969 | 1840000 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | 39458 | 1358933 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 66297 | 5002772 |
| &nbsp;&nbsp;&nbsp;Pan American Silver Corp. | 5995 | 327507 |
| &nbsp;&nbsp;&nbsp;Pembina Pipeline Corp. @ | 23600 | 1056336 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc., Class B | 5733 | 220434 |
| &nbsp;&nbsp;&nbsp;Suncor Energy, Inc. ¥ | 67770 | 4482437 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Suncor Energy, Inc. | 39329 | $2600040 |
| &nbsp;&nbsp;&nbsp;Teck Resources Ltd., Class B | 38826 | 2009245 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank (The) @ | 11768 | 1099057 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank (The) @ | 82217 | 7671668 |
| &nbsp;&nbsp;&nbsp;Tourmaline Oil Corp. @ | 53003 | 2536798 |
| &nbsp;&nbsp;&nbsp;Whitecap Resources, Inc. @ | 38010 | 428982 |
|  |  | 65792771 |
| ***China — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Budweiser Brewing Co. APAC Ltd. @± | 150900 | 138560 |
| ***Denmark — 2.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;AP Moller - Maersk AS, Class A | 191 | 464708 |
| &nbsp;&nbsp;&nbsp;AP Moller - Maersk AS, Class B | 194 | 481759 |
| &nbsp;&nbsp;&nbsp;Carlsberg AS, Class B | 12201 | 1515783 |
| &nbsp;&nbsp;&nbsp;Danske Bank AS | 41578 | 2008416 |
| &nbsp;&nbsp;&nbsp;DSV AS | 16777 | 3972899 |
| &nbsp;&nbsp;&nbsp;Genmab AS \* | 2066 | 547401 |
| &nbsp;&nbsp;&nbsp;Novonesis Novozymes B, Class B | 33128 | 1959949 |
| &nbsp;&nbsp;&nbsp;Rockwool AS, Class B | 4849 | 132093 |
| &nbsp;&nbsp;&nbsp;Tryg AS | 15313 | 364990 |
| &nbsp;&nbsp;&nbsp;Vestas Wind Systems AS | 23446 | 689578 |
|  |  | 12137576 |
| ***Finland — 0.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Nokia OYJ | 18157 | 142626 |
| &nbsp;&nbsp;&nbsp;Nokia OYJ, ADR | 420833 | 3383497 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp @ | 28127 | 477093 |
|  |  | 4003216 |
| ***France — 10.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alstom SA \* | 7667 | 214990 |
| &nbsp;&nbsp;&nbsp;Amundi SA ± | 5568 | 472064 |
| &nbsp;&nbsp;&nbsp;AXA SA | 4696 | 212990 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA | 57117 | 5346854 |
| &nbsp;&nbsp;&nbsp;Bouygues SA | 42399 | 2421431 |
| &nbsp;&nbsp;&nbsp;Capgemini SE | 4509 | 523779 |
| &nbsp;&nbsp;&nbsp;Carrefour SA | 27160 | 499304 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | 62218 | 5038343 |
| &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA | 119912 | 4045743 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA | 53157 | 978764 |
| &nbsp;&nbsp;&nbsp;Eiffage SA | 11127 | 1686739 |
| &nbsp;&nbsp;&nbsp;Engie SA | 239962 | 7685649 |
| &nbsp;&nbsp;&nbsp;Kering SA | 416 | 123382 |
| &nbsp;&nbsp;&nbsp;Orange SA | 322578 | 6590156 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA | 1006 | 74674 |
| &nbsp;&nbsp;&nbsp;Publicis Groupe SA | 10803 | 884554 |
| &nbsp;&nbsp;&nbsp;Renault SA @ | 3817 | 128033 |
| &nbsp;&nbsp;&nbsp;Rexel SA | 14200 | 546227 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | 38342 | 3665953 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA | 82075 | 5858949 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | 206199 | 19283698 |
| &nbsp;&nbsp;&nbsp;Vinci SA | 1446 | 214519 |
|  |  | 66496795 |
| ***Germany — 7.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aumovio SE \* | 2479 | 95760 |
| &nbsp;&nbsp;&nbsp;BASF SE | 100217 | 6069798 |
| &nbsp;&nbsp;&nbsp;Bayer AG | 95229 | 4335125 |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | 25958 | 2340278 |
| &nbsp;&nbsp;&nbsp;Commerzbank AG | 88483 | 3148989 |
| &nbsp;&nbsp;&nbsp;Continental AG | 8730 | 601398 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Holding AG | 81396 | 3901563 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 94182 | 2734026 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 9076 | 270283 |
| &nbsp;&nbsp;&nbsp;Deutsche Post AG | 54353 | 2811371 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | 33494 | 1236914 |
| &nbsp;&nbsp;&nbsp;E.ON SE | 152793 | 3348447 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA International Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Germany (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Fresenius Medical Care AG | 14083 | $627836 |
| &nbsp;&nbsp;&nbsp;Fresenius SE & Co. KGaA | 34117 | 1747721 |
| &nbsp;&nbsp;&nbsp;Hapag-Lloyd AG ± | 1127 | 157229 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | 21305 | 4391938 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA | 6345 | 453233 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Group AG | 65981 | 3995479 |
| &nbsp;&nbsp;&nbsp;Merck KGaA | 3520 | 437781 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 553 | 344777 |
| &nbsp;&nbsp;&nbsp;RWE AG | 22298 | 1486595 |
| &nbsp;&nbsp;&nbsp;Volkswagen AG | 4164 | 425706 |
|  |  | 44962247 |
| ***Hong Kong — 1.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;BOC Hong Kong Holdings Ltd. | 302500 | 1651150 |
| &nbsp;&nbsp;&nbsp;Cathay Pacific Airways Ltd. @ | 230363 | 329627 |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings Ltd. | 82569 | 468171 |
| &nbsp;&nbsp;&nbsp;CK Hutchison Holdings Ltd. | 204124 | 1551522 |
| &nbsp;&nbsp;&nbsp;CK Infrastructure Holdings Ltd. | 9000 | 71794 |
| &nbsp;&nbsp;&nbsp;Henderson Land Development Co. Ltd. @ | 88684 | 327085 |
| &nbsp;&nbsp;&nbsp;HKT Trust & HKT Ltd. | 56000 | 87272 |
| &nbsp;&nbsp;&nbsp;Hong Kong & China Gas Co. Ltd. | 383000 | 346797 |
| &nbsp;&nbsp;&nbsp;MTR Corp. Ltd. @ | 74669 | 304534 |
| &nbsp;&nbsp;&nbsp;Sun Hung Kai Properties Ltd. | 81177 | 1337559 |
| &nbsp;&nbsp;&nbsp;Swire Pacific Ltd., Class A | 53500 | 582338 |
| &nbsp;&nbsp;&nbsp;Swire Pacific Ltd., Class B | 120000 | 195888 |
| &nbsp;&nbsp;&nbsp;WH Group Ltd. ± | 1427959 | 1868446 |
|  |  | 9122183 |
| ***Ireland — 0.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;AIB Group PLC | 73001 | 760670 |
| &nbsp;&nbsp;&nbsp;Bank of Ireland Group PLC | 65003 | 1159689 |
|  |  | 1920359 |
| ***Israel — 1.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Bank Hapoalim BM | 62229 | 1451080 |
| &nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel BM | 106093 | 2354810 |
| &nbsp;&nbsp;&nbsp;Clal Insurance Enterprises Holdings Ltd. | 2481 | 175168 |
| &nbsp;&nbsp;&nbsp;Delek Group Ltd. | 1842 | 620503 |
| &nbsp;&nbsp;&nbsp;Israel Discount Bank Ltd., Class A | 131550 | 1317043 |
|  |  | 5918604 |
| ***Italy — 1.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;Banco BPM SpA @ | 78217 | 1072229 |
| &nbsp;&nbsp;&nbsp;Eni SpA | 212093 | 6091921 |
| &nbsp;&nbsp;&nbsp;Telecom Italia SpA \* | 282957 | 195972 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | 51856 | 3647813 |
| &nbsp;&nbsp;&nbsp;Unipol Assicurazioni SpA | 21052 | 482887 |
|  |  | 11490822 |
| ***Japan — 21.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;AGC, Inc. | 41300 | 1430751 |
| &nbsp;&nbsp;&nbsp;Air Water, Inc. | 11100 | 148590 |
| &nbsp;&nbsp;&nbsp;Aisin Corp. | 67500 | 922088 |
| &nbsp;&nbsp;&nbsp;Alfresa Holdings Corp. | 13000 | 207076 |
| &nbsp;&nbsp;&nbsp;Amada Co. Ltd. | 27500 | 374453 |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings Ltd. | 182600 | 1823641 |
| &nbsp;&nbsp;&nbsp;Asahi Kasei Corp. | 191300 | 1818920 |
| &nbsp;&nbsp;&nbsp;Bridgestone Corp. | 78600 | 1618010 |
| &nbsp;&nbsp;&nbsp;Brother Industries Ltd. | 35600 | 644234 |
| &nbsp;&nbsp;&nbsp;Canon Marketing Japan, Inc. | 14800 | 321729 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Chiba Bank Ltd. (The) @ | 38200 | $480434 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Bottlers Japan Holdings, Inc. | 8000 | 181469 |
| &nbsp;&nbsp;&nbsp;COMSYS Holdings Corp. | 2900 | 91017 |
| &nbsp;&nbsp;&nbsp;Cosmo Energy Holdings Co. Ltd. | 23800 | 664640 |
| &nbsp;&nbsp;&nbsp;Dai Nippon Printing Co. Ltd. | 13400 | 238735 |
| &nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings, Inc. | 250400 | 2242011 |
| &nbsp;&nbsp;&nbsp;Daiwa House Industry Co. Ltd. | 58900 | 1825212 |
| &nbsp;&nbsp;&nbsp;Daiwa Securities Group, Inc. @ | 74700 | 687200 |
| &nbsp;&nbsp;&nbsp;Denso Corp. | 98200 | 1205031 |
| &nbsp;&nbsp;&nbsp;ENEOS Holdings, Inc. | 470600 | 4182485 |
| &nbsp;&nbsp;&nbsp;FUJIFILM Holdings Corp. | 59300 | 1108431 |
| &nbsp;&nbsp;&nbsp;Fukuoka Financial Group, Inc. | 13600 | 504992 |
| &nbsp;&nbsp;&nbsp;Gunma Bank Ltd. (The) @ | 8800 | 114363 |
| &nbsp;&nbsp;&nbsp;Hachijuni Nagano Bank Ltd. | 8600 | 104421 |
| &nbsp;&nbsp;&nbsp;Hakuhodo DY Holdings, Inc. | 22300 | 144306 |
| &nbsp;&nbsp;&nbsp;Hankyu Hanshin Holdings, Inc. @ | 28300 | 811705 |
| &nbsp;&nbsp;&nbsp;Haseko Corp. | 30800 | 559991 |
| &nbsp;&nbsp;&nbsp;Hitachi Construction Machinery Co. Ltd. @ | 8000 | 265701 |
| &nbsp;&nbsp;&nbsp;Honda Motor Co. Ltd. @ | 323500 | 2563254 |
| &nbsp;&nbsp;&nbsp;Hulic Co. Ltd. | 25300 | 291650 |
| &nbsp;&nbsp;&nbsp;Idemitsu Kosan Co. Ltd. | 147000 | 1427810 |
| &nbsp;&nbsp;&nbsp;Iida Group Holdings Co. Ltd. | 14400 | 217037 |
| &nbsp;&nbsp;&nbsp;INFRONEER Holdings, Inc. @ | 12800 | 174008 |
| &nbsp;&nbsp;&nbsp;Inpex Corp. | 144500 | 4259292 |
| &nbsp;&nbsp;&nbsp;Isuzu Motors Ltd. | 85200 | 1192333 |
| &nbsp;&nbsp;&nbsp;Iyogin Holdings, Inc. | 13300 | 237205 |
| &nbsp;&nbsp;&nbsp;J Front Retailing Co. Ltd. | 35100 | 533893 |
| &nbsp;&nbsp;&nbsp;Japan Airlines Co. Ltd. | 19000 | 306421 |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings Co. Ltd. | 54700 | 616605 |
| &nbsp;&nbsp;&nbsp;Japan Post Insurance Co. Ltd. @ | 13500 | 133975 |
| &nbsp;&nbsp;&nbsp;JFE Holdings, Inc. @ | 46000 | 526215 |
| &nbsp;&nbsp;&nbsp;Kamigumi Co. Ltd. | 15700 | 539343 |
| &nbsp;&nbsp;&nbsp;Kobe Steel Ltd. @ | 43300 | 515655 |
| &nbsp;&nbsp;&nbsp;Koito Manufacturing Co. Ltd. | 27300 | 419550 |
| &nbsp;&nbsp;&nbsp;Komatsu Ltd. | 24500 | 928254 |
| &nbsp;&nbsp;&nbsp;Kubota Corp. | 115000 | 1780379 |
| &nbsp;&nbsp;&nbsp;Kuraray Co. Ltd. | 46000 | 478101 |
| &nbsp;&nbsp;&nbsp;Kyoto Financial Group, Inc. @ | 26000 | 665297 |
| &nbsp;&nbsp;&nbsp;Kyushu Financial Group, Inc. | 16500 | 117170 |
| &nbsp;&nbsp;&nbsp;Lixil Corp. @ | 25500 | 260535 |
| &nbsp;&nbsp;&nbsp;LY Corp. | 162700 | 392334 |
| &nbsp;&nbsp;&nbsp;Marubeni Corp. | 23300 | 824797 |
| &nbsp;&nbsp;&nbsp;Mazda Motor Corp. | 37400 | 244848 |
| &nbsp;&nbsp;&nbsp;Mebuki Financial Group, Inc. @ | 83070 | 624445 |
| &nbsp;&nbsp;&nbsp;Medipal Holdings Corp. | 17700 | 327668 |
| &nbsp;&nbsp;&nbsp;MEIJI Holdings Co. Ltd. @ | 26100 | 634636 |
| &nbsp;&nbsp;&nbsp;Minebea Mitsumi, Inc. @ | 38700 | 618156 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Chemical Group Corp. | 124300 | 704110 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate Co. Ltd. | 70100 | 1908586 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Gas Chemical Co., Inc. | 21400 | 484755 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Logistics Corp. | 12500 | 104045 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | 240700 | 3943291 |
| &nbsp;&nbsp;&nbsp;Mitsui & Co. Ltd. | 12300 | 461836 |
| &nbsp;&nbsp;&nbsp;Mitsui Chemicals, Inc. | 70800 | 829097 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan Co. Ltd. | 80100 | 835547 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. | 97740 | 3748738 |
| &nbsp;&nbsp;&nbsp;MS&AD Insurance Group Holdings, Inc. | 44084 | 1119982 |
| &nbsp;&nbsp;&nbsp;NGK Insulators Ltd. | 41200 | 1032434 |
| &nbsp;&nbsp;&nbsp;NH Foods Ltd. @ | 11033 | 488718 |
| &nbsp;&nbsp;&nbsp;NHK Spring Co. Ltd. | 7800 | 119134 |
| &nbsp;&nbsp;&nbsp;Nikon Corp. @ | 17200 | 204616 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA International Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Japan (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Nippon Express Holdings, Inc. | 47700 | $1065176 |
| &nbsp;&nbsp;&nbsp;Nippon Steel Corp. @ | 210635 | 764341 |
| &nbsp;&nbsp;&nbsp;Nissan Motor Co. Ltd. \* | 113200 | 237520 |
| &nbsp;&nbsp;&nbsp;Nisshin Seifun Group, Inc. | 22800 | 301045 |
| &nbsp;&nbsp;&nbsp;Niterra Co. Ltd. | 18000 | 819672 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. | 175700 | 1332931 |
| &nbsp;&nbsp;&nbsp;Nomura Real Estate Holdings, Inc. | 118500 | 754508 |
| &nbsp;&nbsp;&nbsp;Obayashi Corp. | 12700 | 300565 |
| &nbsp;&nbsp;&nbsp;Oji Holdings Corp. | 164200 | 876637 |
| &nbsp;&nbsp;&nbsp;Omron Corp. | 3700 | 103326 |
| &nbsp;&nbsp;&nbsp;Ono Pharmaceutical Co. Ltd. @ | 19200 | 303718 |
| &nbsp;&nbsp;&nbsp;Open House Group Co. Ltd. | 7900 | 498028 |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | 214900 | 3500986 |
| &nbsp;&nbsp;&nbsp;Resona Holdings, Inc. | 177600 | 1927576 |
| &nbsp;&nbsp;&nbsp;Resonac Holdings Corp. | 22300 | 1377301 |
| &nbsp;&nbsp;&nbsp;Ricoh Co. Ltd. | 81000 | 670385 |
| &nbsp;&nbsp;&nbsp;Seiko Epson Corp. @ | 40700 | 491872 |
| &nbsp;&nbsp;&nbsp;Seino Holdings Co. Ltd. | 20400 | 311903 |
| &nbsp;&nbsp;&nbsp;Sekisui Chemical Co. Ltd. | 16000 | 262777 |
| &nbsp;&nbsp;&nbsp;Sekisui House Ltd. | 54500 | 1208784 |
| &nbsp;&nbsp;&nbsp;Seven & i Holdings Co. Ltd. @ | 74800 | 1000837 |
| &nbsp;&nbsp;&nbsp;Shizuoka Financial Group, Inc. @ | 46000 | 742730 |
| &nbsp;&nbsp;&nbsp;Sojitz Corp. @ | 35820 | 1382423 |
| &nbsp;&nbsp;&nbsp;Sompo Holdings, Inc. | 13800 | 522766 |
| &nbsp;&nbsp;&nbsp;Subaru Corp. | 84900 | 1328560 |
| &nbsp;&nbsp;&nbsp;Sumitomo Chemical Co. Ltd. | 157200 | 494763 |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | 67700 | 2465619 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries Ltd. | 93000 | 4910620 |
| &nbsp;&nbsp;&nbsp;Sumitomo Forestry Co. Ltd. @ | 86700 | 767001 |
| &nbsp;&nbsp;&nbsp;Sumitomo Heavy Industries Ltd. | 19000 | 563637 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | 222200 | 7008810 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Group, Inc. | 49800 | 1538197 |
| &nbsp;&nbsp;&nbsp;Sumitomo Realty & Development Co. Ltd. @ | 84000 | 2324615 |
| &nbsp;&nbsp;&nbsp;Sumitomo Rubber Industries Ltd. | 42800 | 545164 |
| &nbsp;&nbsp;&nbsp;Suntory Beverage & Food Ltd. | 12700 | 359062 |
| &nbsp;&nbsp;&nbsp;Suzuken Co. Ltd. | 1100 | 41136 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor Corp. | 103600 | 1224295 |
| &nbsp;&nbsp;&nbsp;Taiheiyo Cement Corp. | 3200 | 70591 |
| &nbsp;&nbsp;&nbsp;Takashimaya Co. Ltd. | 26200 | 309949 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 126173 | 4502970 |
| &nbsp;&nbsp;&nbsp;Tokyo Tatemono Co. Ltd. | 37600 | 849823 |
| &nbsp;&nbsp;&nbsp;Tokyu Fudosan Holdings Corp. | 132300 | 1104549 |
| &nbsp;&nbsp;&nbsp;Toray Industries, Inc. | 106100 | 735724 |
| &nbsp;&nbsp;&nbsp;Tosoh Corp. | 58300 | 849860 |
| &nbsp;&nbsp;&nbsp;Toyo Seikan Group Holdings Ltd. | 16700 | 372187 |
| &nbsp;&nbsp;&nbsp;Toyo Tire Corp. | 7400 | 167579 |
| &nbsp;&nbsp;&nbsp;Toyoda Gosei Co. Ltd. | 15300 | 386392 |
| &nbsp;&nbsp;&nbsp;Toyota Boshoku Corp. | 5500 | 83554 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 405050 | 8070118 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp., ADR @ | 2917 | 601165 |
| &nbsp;&nbsp;&nbsp;Toyota Tsusho Corp. @ | 62400 | 2339435 |
| &nbsp;&nbsp;&nbsp;Yamaha Motor Co. Ltd. | 111600 | 791442 |
| &nbsp;&nbsp;&nbsp;Yamato Holdings Co. Ltd. | 18700 | 205552 |
| &nbsp;&nbsp;&nbsp;Yokohama Financial Group, Inc. | 111200 | 962722 |
| &nbsp;&nbsp;&nbsp;Yokohama Rubber Co. Ltd. (The) | 27600 | 1012316 |
|  |  | 130302605 |
| ***Macau — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Galaxy Entertainment Group Ltd. | 119000 | 531169 |
| ***Netherlands — 4.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV, GDR | 35524 | 1113148 |
| &nbsp;&nbsp;&nbsp;Aegon Ltd. | 119642 | 861259 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Akzo Nobel NV | 13002 | $739395 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA @ | 43796 | 2276516 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA = | 1708 | 86548 |
| &nbsp;&nbsp;&nbsp;ASR Nederland NV | 17592 | 1203349 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC | 8210 | 750622 |
| &nbsp;&nbsp;&nbsp;HAL Trust | 1592 | 319444 |
| &nbsp;&nbsp;&nbsp;Heineken NV | 19819 | 1518787 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 198598 | 5074193 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | 159582 | 7431607 |
| &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | 263030 | 1460224 |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV ¢ | 27565 | 743636 |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV @ | 41074 | 1125428 |
| &nbsp;&nbsp;&nbsp;NN Group NV | 37699 | 2922099 |
| &nbsp;&nbsp;&nbsp;Stellantis NV | 125958 | 882121 |
|  |  | 28508376 |
| ***New Zealand — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;Auckland International Airport Ltd. | 115951 | 531051 |
| &nbsp;&nbsp;&nbsp;Fletcher Building Ltd. @\* | 56820 | 96322 |
| &nbsp;&nbsp;&nbsp;Infratil Ltd. @ | 43370 | 290348 |
| &nbsp;&nbsp;&nbsp;Mercury NZ Ltd. | 29568 | 106025 |
| &nbsp;&nbsp;&nbsp;Meridian Energy Ltd. | 44314 | 140822 |
| &nbsp;&nbsp;&nbsp;Port of Tauranga Ltd. | 3033 | 13560 |
| &nbsp;&nbsp;&nbsp;Summerset Group Holdings Ltd. | 8007 | 40859 |
|  |  | 1218987 |
| ***Norway — 0.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aker BP ASA | 22520 | 839828 |
| &nbsp;&nbsp;&nbsp;Austevoll Seafood ASA | 8619 | 92039 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | 17623 | 548188 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | 18973 | 823746 |
| &nbsp;&nbsp;&nbsp;Norsk Hydro ASA | 88167 | 933307 |
| &nbsp;&nbsp;&nbsp;SpareBank 1 Sor-Norge ASA | 18440 | 400874 |
| &nbsp;&nbsp;&nbsp;Stolt-Nielsen Ltd. | 1313 | 45222 |
| &nbsp;&nbsp;&nbsp;Subsea 7 SA | 28831 | 894446 |
| &nbsp;&nbsp;&nbsp;TGS ASA | 6495 | 88542 |
| &nbsp;&nbsp;&nbsp;Yara International ASA | 13148 | 765832 |
|  |  | 5432024 |
| ***Portugal — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;EDP Renovaveis SA @ | 8223 | 130117 |
| ***Singapore — 1.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;BW LPG Ltd. ± | 5825 | 102990 |
| &nbsp;&nbsp;&nbsp;BW LPG Ltd. @± | 1247 | 21661 |
| &nbsp;&nbsp;&nbsp;City Developments Ltd. | 14600 | 93230 |
| &nbsp;&nbsp;&nbsp;Genting Singapore Ltd. @ | 191700 | 100644 |
| &nbsp;&nbsp;&nbsp;Hafnia Ltd. | 9131 | 70329 |
| &nbsp;&nbsp;&nbsp;Hongkong Land Holdings Ltd. | 73200 | 568764 |
| &nbsp;&nbsp;&nbsp;Keppel Ltd. | 148300 | 1357619 |
| &nbsp;&nbsp;&nbsp;Oversea-Chinese Banking Corp. Ltd. | 87149 | 1489199 |
| &nbsp;&nbsp;&nbsp;Seatrium Ltd. | 238840 | 438409 |
| &nbsp;&nbsp;&nbsp;Singapore Airlines Ltd. | 77500 | 397838 |
| &nbsp;&nbsp;&nbsp;STMicroelectronics NV | 16980 | 561411 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank Ltd. | 71400 | 2035319 |
| &nbsp;&nbsp;&nbsp;UOL Group Ltd. | 47218 | 356972 |
| &nbsp;&nbsp;&nbsp;Wilmar International Ltd. | 180900 | 541701 |
|  |  | 8136086 |
| ***South Africa — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Valterra Platinum Ltd. | 438 | 35712 |
| ***Spain — 3.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Banco de Sabadell SA | 74625 | 262475 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 1427311 | 15656201 |
| &nbsp;&nbsp;&nbsp;Cellnex Telecom SA ±\* | 8456 | 271029 |
| &nbsp;&nbsp;&nbsp;Mapfre SA | 35087 | 154678 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA International Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Spain (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Repsol SA | 173224 | $4935448 |
|  |  | 21279831 |
| ***Sweden — 2.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;Boliden AB \* | 34071 | 1748061 |
| &nbsp;&nbsp;&nbsp;Essity AB, Class B @ | 35389 | 908028 |
| &nbsp;&nbsp;&nbsp;Getinge AB, Class B | 7190 | 143205 |
| &nbsp;&nbsp;&nbsp;Hexagon AB, Class B | 53499 | 508844 |
| &nbsp;&nbsp;&nbsp;Hexpol AB | 16597 | 125617 |
| &nbsp;&nbsp;&nbsp;Holmen AB, Class B @ | 8941 | 318288 |
| &nbsp;&nbsp;&nbsp;Husqvarna AB, Class B | 29807 | 116594 |
| &nbsp;&nbsp;&nbsp;Loomis AB | 9469 | 428306 |
| &nbsp;&nbsp;&nbsp;Securitas AB, Class B | 59785 | 996559 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB, Class A @ | 122336 | 2226605 |
| &nbsp;&nbsp;&nbsp;Skanska AB, Class B @ | 29166 | 778241 |
| &nbsp;&nbsp;&nbsp;SKF AB, Class A | 839 | 20030 |
| &nbsp;&nbsp;&nbsp;SKF AB, Class B | 64782 | 1534241 |
| &nbsp;&nbsp;&nbsp;SSAB AB, Class A | 29362 | 228466 |
| &nbsp;&nbsp;&nbsp;SSAB AB, Class B @ | 84454 | 655352 |
| &nbsp;&nbsp;&nbsp;Svenska Cellulosa AB SCA, Class A | 244 | 2815 |
| &nbsp;&nbsp;&nbsp;Svenska Cellulosa AB SCA, Class B @ | 25812 | 296657 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class A @ | 54423 | 707404 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class B @ | 1918 | 42426 |
| &nbsp;&nbsp;&nbsp;Swedbank AB, Class A | 38879 | 1309704 |
| &nbsp;&nbsp;&nbsp;Swedish Orphan Biovitrum AB \* | 3353 | 138914 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B @ | 9317 | 104620 |
| &nbsp;&nbsp;&nbsp;Telia Co. AB | 199344 | 1015814 |
| &nbsp;&nbsp;&nbsp;Trelleborg AB, Class B | 10544 | 388495 |
| &nbsp;&nbsp;&nbsp;Volvo Car AB, Class B @\* | 39107 | 86462 |
|  |  | 14829748 |
| ***Switzerland — 7.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alcon AG | 30384 | 2251821 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA, Class A | 25566 | 4429927 |
| &nbsp;&nbsp;&nbsp;DSM-Firmenich AG | 7778 | 552358 |
| &nbsp;&nbsp;&nbsp;Helvetia Baloise Holding AG | 3566 | 916029 |
| &nbsp;&nbsp;&nbsp;Holcim AG | 54961 | 4462316 |
| &nbsp;&nbsp;&nbsp;Julius Baer Group Ltd. | 24697 | 1796370 |
| &nbsp;&nbsp;&nbsp;Lonza Group AG | 4601 | 2904683 |
| &nbsp;&nbsp;&nbsp;Novartis AG | 2121 | 320590 |
| &nbsp;&nbsp;&nbsp;Sandoz Group AG | 24470 | 1889417 |
| &nbsp;&nbsp;&nbsp;Sandoz Group AG, ADR | 572 | 44730 |
| &nbsp;&nbsp;&nbsp;Swiss Life Holding AG | 3535 | 3823247 |
| &nbsp;&nbsp;&nbsp;Swiss Prime Site AG | 1636 | 276213 |
| &nbsp;&nbsp;&nbsp;Swiss Re AG @ | 28375 | 4691314 |
| &nbsp;&nbsp;&nbsp;Swisscom AG | 4128 | 3443442 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | 142707 | 5484475 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | 11149 | 7827725 |
|  |  | 45114657 |
| ***United Kingdom — 11.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Associated British Foods PLC @ | 9107 | 226194 |
| &nbsp;&nbsp;&nbsp;Barclays PLC, ADR | 124117 | 2626316 |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC | 94630 | 5474779 |
| &nbsp;&nbsp;&nbsp;BT Group PLC | 1231112 | 3430098 |
| &nbsp;&nbsp;&nbsp;Centrica PLC | 116717 | 328284 |
| &nbsp;&nbsp;&nbsp;Glencore PLC \* | 485546 | 3634293 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | 18452 | 298352 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC, ADR @ | 92661 | $7643606 |
| &nbsp;&nbsp;&nbsp;J Sainsbury PLC | 201103 | 902350 |
| &nbsp;&nbsp;&nbsp;Kingfisher PLC | 166517 | 625501 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | 5202883 | 6359029 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC, ADR @ | 106788 | 537144 |
| &nbsp;&nbsp;&nbsp;Natwest Group PLC | 428451 | 3137186 |
| &nbsp;&nbsp;&nbsp;Natwest Group PLC, ADR @ | 51478 | 767022 |
| &nbsp;&nbsp;&nbsp;Shell PLC, ADR | 329083 | 30604719 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | 159181 | 3276261 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | 779636 | 1169173 |
|  |  | 71040307 |
| ***United States — 2.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Amrize Ltd. \* | 54961 | 2992749 |
| &nbsp;&nbsp;&nbsp;BP PLC | 299981 | 2407344 |
| &nbsp;&nbsp;&nbsp;BP PLC, ADR | 135768 | 6381096 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 17294 | 610028 |
| &nbsp;&nbsp;&nbsp;Shell PLC | 2416 | 114578 |
| &nbsp;&nbsp;&nbsp;Sinch AB @\*± | 25107 | 65375 |
| &nbsp;&nbsp;&nbsp;Tenaris SA, ADR | 4481 | 260705 |
|  |  | 12831875 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCKS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $340,073,464) |  | 604357940 |
| **PREFERRED STOCKS — 0.6%** |  |  |
| ***Germany — 0.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG, 5.521% | 7858 | 707086 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA, 3.061% | 14026 | 1074852 |
| &nbsp;&nbsp;&nbsp;Volkswagen AG, 7.282% | 14851 | 1483102 |
|  |  | 3265040 |
| ***Italy — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Telecom Italia SpA \* | 172895 | 140728 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL PREFERRED STOCKS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $3,873,436) |  | 3405768 |
| **SHORT-TERM INVESTMENTS — 2.1%** | **SHORT-TERM INVESTMENTS — 2.1%** | **SHORT-TERM INVESTMENTS — 2.1%** |
| ***Investment Company — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% | 985133 | 985133 |
| ***Collateral For Securities On Loan — 2.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Government Money Market Portfolio 3.680% | 12163413 | 12163413 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $13,148,546) |  | 13148546 |
| **Total Investments — 100.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Identified Cost $357,095,446)** |  | **620912254** |
| &nbsp;&nbsp;&nbsp;Liabilities in excess of Cash and Other Assets — (0.8%) |  | (4717281) |
| **Net Assets — 100.0%** |  | $**616194973** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† See Note 1

---

| | |
|:---|:---|
| @ | A portion or all of the security was held on loan. As of March 31, 2026, the fair value of the securities on loan was $59,682,810. |

---

\* Non-income producing security

---

| | |
|:---|:---|
| ± | 144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at March 31, 2026 amounted to $3,097,355 or 0.50% of the net assets of the Fund. |

---

= Traded on the France, Euronext Paris Exchange.

¢ Traded on the Netherlands, Euronext Amsterdam Stock Market.

¥ Traded on the Canada, Toronto Stock Exchange.

Key to abbreviations:

ADR — American Depository Receipt

*The accompanying notes are an integral part of these portfolio of investments.*

**SA International Small Company Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **MUTUAL FUNDS — 100.0%** |  |  |
| ***Others — 100.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;DFA International Small Company Portfolio £| 10705924 | $276426955 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL MUTUAL FUNDS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $105,826,244) |  | 276426955 |
| **Total Investments — 100.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Identified Cost $105,826,244)** |  | **276426955** |
| &nbsp;&nbsp;&nbsp;Cash and Other Assets, Less Liabilities — 0.0% |  | 71575 |
| **Net Assets — 100.0%** |  | $**276498530** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† See Note 1

---

| | |
|:---|:---|
| £| The Fund invests a substantial amount of its assets in the DFA International Small Company Portfolio. Financial statements and other information about the DFA International Small Company Portfolio, including its portfolio holdings, are available at https://www.dimensional.com. |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS — 99.1%** |  |  |
| ***Brazil — 2.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Anima Holding SA | 25000 | $20753 |
| &nbsp;&nbsp;&nbsp;Azzas 2154 SA | 4900 | 24311 |
| &nbsp;&nbsp;&nbsp;Banco ABC Brasil SA \* | 600 | 2938 |
| &nbsp;&nbsp;&nbsp;Banco Bradesco SA | 47201 | 152269 |
| &nbsp;&nbsp;&nbsp;Banco do Brasil SA | 67954 | 301735 |
| &nbsp;&nbsp;&nbsp;Banco Santander Brasil SA | 146380 | 865871 |
| &nbsp;&nbsp;&nbsp;C&A Modas SA | 8100 | 18921 |
| &nbsp;&nbsp;&nbsp;Cia Siderurgica Nacional SA \* | 34656 | 42351 |
| &nbsp;&nbsp;&nbsp;Cogna Educacao SA | 212019 | 129344 |
| &nbsp;&nbsp;&nbsp;Cyrela Brazil Realty SA Empreendimentos e Participacoes | 3810 | 20095 |
| &nbsp;&nbsp;&nbsp;Dexco SA \* | 39148 | 35597 |
| &nbsp;&nbsp;&nbsp;Gerdau SA, ADR | 26913 | 97156 |
| &nbsp;&nbsp;&nbsp;Grupo Mateus SA | 25900 | 23501 |
| &nbsp;&nbsp;&nbsp;Grupo SBF SA | 12700 | 30133 |
| &nbsp;&nbsp;&nbsp;Guararapes Confeccoes SA | 5700 | 10234 |
| &nbsp;&nbsp;&nbsp;Iochpe Maxion SA | 12197 | 21522 |
| &nbsp;&nbsp;&nbsp;IRB Brasil Resseguros SA \* | 3822 | 40287 |
| &nbsp;&nbsp;&nbsp;JHSF Participacoes SA | 40831 | 73072 |
| &nbsp;&nbsp;&nbsp;Lojas Renner SA | 6910 | 19957 |
| &nbsp;&nbsp;&nbsp;M Dias Branco SA | 2888 | 12829 |
| &nbsp;&nbsp;&nbsp;Magazine Luiza SA | 4973 | 8420 |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA - Petrobras | 216013 | 2248185 |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA - Petrobras, ADR | 31807 | 596381 |
| &nbsp;&nbsp;&nbsp;Petroreconcavo SA | 10435 | 28264 |
| &nbsp;&nbsp;&nbsp;PRIO SA \* | 20479 | 261767 |
| &nbsp;&nbsp;&nbsp;Sao Martinho SA | 10312 | 42205 |
| &nbsp;&nbsp;&nbsp;Suzano SA | 12760 | 127850 |
| &nbsp;&nbsp;&nbsp;Vale SA | 20412 | 325025 |
| &nbsp;&nbsp;&nbsp;Vale SA, ADR | 13185 | 209773 |
| &nbsp;&nbsp;&nbsp;Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA | 4800 | 18811 |
| &nbsp;&nbsp;&nbsp;Vibra Energia SA | 27292 | 166602 |
| &nbsp;&nbsp;&nbsp;YDUQS Participacoes SA | 9300 | 21743 |
|  |  | 5997902 |
| ***British Virgin Islands — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;AsiaInfo Technologies Ltd. @± | 13200 | 9646 |
| ***Canada — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;China Gold International Resources Corp. Ltd. | 1200 | 23139 |
| ***Cayman Islands — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Fulgent Sun International Holding Co. Ltd. | 8315 | 20079 |
| &nbsp;&nbsp;&nbsp;Gourmet Master Co. Ltd. | 5000 | 10651 |
| &nbsp;&nbsp;&nbsp;Trip.com Group Ltd. \* | 5300 | 257389 |
|  |  | 288119 |
| ***Chile — 0.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Itau Chile SA | 717 | 14901 |
| &nbsp;&nbsp;&nbsp;CAP SA \* | 4662 | 34930 |
| &nbsp;&nbsp;&nbsp;Cencosud SA | 48086 | 131280 |
| &nbsp;&nbsp;&nbsp;Cia Cervecerias Unidas SA, ADR | 4298 | 48782 |
| &nbsp;&nbsp;&nbsp;Empresa Nacional de Telecomunicaciones SA | 13467 | 53359 |
| &nbsp;&nbsp;&nbsp;Empresas CMPC SA | 47954 | 65232 |
| &nbsp;&nbsp;&nbsp;Empresas Copec SA | 19513 | 134825 |
| &nbsp;&nbsp;&nbsp;Enel Americas SA | 705488 | 60399 |
| &nbsp;&nbsp;&nbsp;Falabella SA | 20400 | 124876 |
| &nbsp;&nbsp;&nbsp;Inversiones Aguas Metropolitanas SA | 43236 | 47098 |
| &nbsp;&nbsp;&nbsp;Ripley Corp. SA | 81141 | 33838 |
| &nbsp;&nbsp;&nbsp;Salfacorp SA | 43853 | 57760 |
| &nbsp;&nbsp;&nbsp;Sigdo Koppers SA | 27803 | 52166 |
| &nbsp;&nbsp;&nbsp;SMU SA | 215040 | 30413 |
| &nbsp;&nbsp;&nbsp;Sociedad Matriz SAAM SA | 298644 | 48363 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;SONDA SA | 83103 | $26916 |
| &nbsp;&nbsp;&nbsp;Vina Concha y Toro SA | 23908 | 22674 |
|  |  | 987812 |
| ***China — 27.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;361 Degrees International Ltd. | 71000 | 56864 |
| &nbsp;&nbsp;&nbsp;3SBio, Inc. ± | 9500 | 27429 |
| &nbsp;&nbsp;&nbsp;AAC Technologies Holdings, Inc. | 33500 | 141413 |
| &nbsp;&nbsp;&nbsp;AECC Aero-Engine Control Co. Ltd., Class A | 7100 | 22313 |
| &nbsp;&nbsp;&nbsp;Agricultural Bank of China Ltd., Class H | 1328000 | 943345 |
| &nbsp;&nbsp;&nbsp;Airtac International Group | 6000 | 186362 |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 304510 | 4621319 |
| &nbsp;&nbsp;&nbsp;Aluminum Corp. of China Ltd., Class H | 28000 | 40172 |
| &nbsp;&nbsp;&nbsp;Anhui Conch Cement Co. Ltd., Class H | 57000 | 154109 |
| &nbsp;&nbsp;&nbsp;Anhui Guangxin Agrochemical Co. Ltd., Class A | 4312 | 9044 |
| &nbsp;&nbsp;&nbsp;Anhui Heli Co. Ltd., Class A | 8200 | 21390 |
| &nbsp;&nbsp;&nbsp;Anhui Hengyuan Coal Industry and Electricity Power Co. Ltd., Class A | 12600 | 13533 |
| &nbsp;&nbsp;&nbsp;Anhui Huilong Agricultural Means of Production Co. Ltd., Class A | 6500 | 5721 |
| &nbsp;&nbsp;&nbsp;Anhui Jiangnan Chemical Industry Co. Ltd., Class A | 29200 | 23036 |
| &nbsp;&nbsp;&nbsp;Anhui Truchum Advanced Materials & Technology Co. Ltd., Class A \* | 13800 | 22693 |
| &nbsp;&nbsp;&nbsp;Anhui Zhongding Sealing Parts Co. Ltd., Class A | 13300 | 34577 |
| &nbsp;&nbsp;&nbsp;Anjoy Foods Group Co. Ltd., Class A | 2200 | 29700 |
| &nbsp;&nbsp;&nbsp;Anton Oilfield Services Group | 112000 | 15426 |
| &nbsp;&nbsp;&nbsp;Asia - Potash International Investment Guangzhou Co. Ltd., Class A \* | 4400 | 38916 |
| &nbsp;&nbsp;&nbsp;Asymchem Laboratories Tianjin Co. Ltd., Class A | 2200 | 35276 |
| &nbsp;&nbsp;&nbsp;Autohome, Inc., ADR | 583 | 10127 |
| &nbsp;&nbsp;&nbsp;AviChina Industry & Technology Co. Ltd., Class H @ | 219000 | 92726 |
| &nbsp;&nbsp;&nbsp;BAIC Foton Motor Co. Ltd., Class A \* | 66600 | 28344 |
| &nbsp;&nbsp;&nbsp;BAIC Motor Corp. Ltd., Class H \*± | 145000 | 28293 |
| &nbsp;&nbsp;&nbsp;Baidu, Inc., ADR \*@ | 11412 | 1271525 |
| &nbsp;&nbsp;&nbsp;Baidu, Inc., Class A \* | 6850 | 92339 |
| &nbsp;&nbsp;&nbsp;Bairong, Inc. \*± | 21500 | 21853 |
| &nbsp;&nbsp;&nbsp;Bank of Beijing Co. Ltd., Class A | 98400 | 78484 |
| &nbsp;&nbsp;&nbsp;Bank of Changsha Co. Ltd., Class A | 25500 | 35547 |
| &nbsp;&nbsp;&nbsp;Bank of Chengdu Co. Ltd., Class A | 26000 | 64434 |
| &nbsp;&nbsp;&nbsp;Bank of China Ltd., Class H | 3327902 | 2109329 |
| &nbsp;&nbsp;&nbsp;Bank of Chongqing Co. Ltd., Class H | 46500 | 46908 |
| &nbsp;&nbsp;&nbsp;Bank of Communications Co. Ltd., Class H | 462400 | 415153 |
| &nbsp;&nbsp;&nbsp;Bank of Guiyang Co. Ltd., Class A | 22500 | 18956 |
| &nbsp;&nbsp;&nbsp;Bank of Hangzhou Co. Ltd., Class A | 32101 | 77834 |
| &nbsp;&nbsp;&nbsp;Bank of Jiangsu Co. Ltd., Class A | 80100 | 126616 |
| &nbsp;&nbsp;&nbsp;Bank of Nanjing Co. Ltd., Class A | 61300 | 101069 |
| &nbsp;&nbsp;&nbsp;Bank of Ningbo Co. Ltd., Class A | 33980 | 149777 |
| &nbsp;&nbsp;&nbsp;Bank of Qingdao Co. Ltd., Class H ± | 53000 | 29402 |
| &nbsp;&nbsp;&nbsp;Bank of Shanghai Co. Ltd., Class A | 68500 | 98265 |
| &nbsp;&nbsp;&nbsp;Bank of Suzhou Co. Ltd., Class A | 22220 | 26890 |
| &nbsp;&nbsp;&nbsp;Baoshan Iron & Steel Co. Ltd., Class A | 100300 | 93067 |
| &nbsp;&nbsp;&nbsp;BBMG Corp., Class H @ | 103000 | 9852 |
| &nbsp;&nbsp;&nbsp;Beijing Capital Eco-Environment Protection Group Co. Ltd., Class A | 48000 | 21748 |
| &nbsp;&nbsp;&nbsp;Beijing Capital International Airport Co. Ltd., Class H \* | 108000 | 25205 |
| &nbsp;&nbsp;&nbsp;Beijing Dabeinong Technology Group Co. Ltd., Class A | 28600 | 16394 |
| &nbsp;&nbsp;&nbsp;Beijing Easpring Material Technology Co. Ltd., Class A | 2700 | 20074 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***China (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Beijing Enterprises Holdings Ltd. | 39500 | $150621 |
| &nbsp;&nbsp;&nbsp;Beijing Enterprises Water Group Ltd. @ | 290000 | 100227 |
| &nbsp;&nbsp;&nbsp;Beijing GeoEnviron Engineering & Technology, Inc., Class A | 11232 | 24307 |
| &nbsp;&nbsp;&nbsp;Beijing Jetsen Technology Co. Ltd., Class A | 28600 | 23598 |
| &nbsp;&nbsp;&nbsp;Beijing New Building Materials PLC, Class A | 5600 | 21141 |
| &nbsp;&nbsp;&nbsp;Beijing Originwater Technology Co. Ltd., Class A | 5558 | 3130 |
| &nbsp;&nbsp;&nbsp;Beijing Shougang Co. Ltd., Class A <> | 27500 | 18590 |
| &nbsp;&nbsp;&nbsp;Beijing Sinnet Technology Co. Ltd., Class A | 15900 | 39404 |
| &nbsp;&nbsp;&nbsp;Beijing SL Pharmaceutical Co. Ltd., Class A | 8900 | 9778 |
| &nbsp;&nbsp;&nbsp;Beijing Tong Ren Tang Chinese Medicine Co. Ltd. | 9000 | 8712 |
| &nbsp;&nbsp;&nbsp;Beijing Yanjing Brewery Co. Ltd., Class A | 9600 | 18204 |
| &nbsp;&nbsp;&nbsp;Beijing-Shanghai High Speed Railway Co. Ltd., Class A | 108000 | 79106 |
| &nbsp;&nbsp;&nbsp;BGI Genomics Co. Ltd., Class A \* | 1800 | 10383 |
| &nbsp;&nbsp;&nbsp;BOC International China Co. Ltd., Class A | 14300 | 25275 |
| &nbsp;&nbsp;&nbsp;BOE Technology Group Co. Ltd., Class A | 186400 | 105501 |
| &nbsp;&nbsp;&nbsp;BOE Varitronix Ltd. | 15000 | 7575 |
| &nbsp;&nbsp;&nbsp;Bohai Leasing Co. Ltd., Class A \* | 64900 | 40491 |
| &nbsp;&nbsp;&nbsp;Bright Dairy & Food Co. Ltd., Class A | 7700 | 8449 |
| &nbsp;&nbsp;&nbsp;Brilliance China Automotive Holdings Ltd. @ | 178000 | 62881 |
| &nbsp;&nbsp;&nbsp;BTG Hotels Group Co. Ltd., Class A | 5700 | 12360 |
| &nbsp;&nbsp;&nbsp;Business-intelligence of Oriental Nations Corp. Ltd., Class A \* | 8200 | 16796 |
| &nbsp;&nbsp;&nbsp;By-health Co. Ltd., Class A | 11100 | 17643 |
| &nbsp;&nbsp;&nbsp;BYD Electronic International Co. Ltd. @ | 33000 | 116156 |
| &nbsp;&nbsp;&nbsp;C&D International Investment Group Ltd. | 60566 | 97401 |
| &nbsp;&nbsp;&nbsp;Caitong Securities Co. Ltd., Class A | 15470 | 17064 |
| &nbsp;&nbsp;&nbsp;CALB Group Co. Ltd., Class H \*@± | 4100 | 16554 |
| &nbsp;&nbsp;&nbsp;Canmax Technologies Co. Ltd., Class A | 4800 | 40647 |
| &nbsp;&nbsp;&nbsp;CECEP Solar Energy Co. Ltd., Class A | 30100 | 23877 |
| &nbsp;&nbsp;&nbsp;CECEP Wind-Power Corp., Class A | 49010 | 30364 |
| &nbsp;&nbsp;&nbsp;CGN New Energy Holdings Co. Ltd. | 130000 | 41614 |
| &nbsp;&nbsp;&nbsp;Changchun High-Tech Industry Group Co. Ltd., Class A | 2500 | 31075 |
| &nbsp;&nbsp;&nbsp;Changjiang Securities Co. Ltd., Class A | 17900 | 17775 |
| &nbsp;&nbsp;&nbsp;Chengdu Kanghong Pharmaceutical Group Co. Ltd., Class A | 4900 | 20499 |
| &nbsp;&nbsp;&nbsp;Chengdu Wintrue Holding Co. Ltd., Class A | 8900 | 18294 |
| &nbsp;&nbsp;&nbsp;Chengxin Lithium Group Co. Ltd., Class A \* | 5600 | 32506 |
| &nbsp;&nbsp;&nbsp;China Baoan Group Co. Ltd., Class A | 9000 | 11478 |
| &nbsp;&nbsp;&nbsp;China BlueChemical Ltd., Class H | 58000 | 20341 |
| &nbsp;&nbsp;&nbsp;China Bohai Bank Co. Ltd., Class H \*± | 217000 | 22139 |
| &nbsp;&nbsp;&nbsp;China CAMC Engineering Co. Ltd., Class A | 4400 | 5707 |
| &nbsp;&nbsp;&nbsp;China Cinda Asset Management Co. Ltd., Class H @ | 242000 | 34875 |
| &nbsp;&nbsp;&nbsp;China Citic Bank Corp. Ltd., Class H | 434000 | 437255 |
| &nbsp;&nbsp;&nbsp;China Coal Energy Co. Ltd., Class H | 164000 | 276080 |
| &nbsp;&nbsp;&nbsp;China Coal Xinji Energy Co. Ltd., Class A | 19900 | 21720 |
| &nbsp;&nbsp;&nbsp;China Communications Services Corp. Ltd., Class H | 195600 | 105269 |
| &nbsp;&nbsp;&nbsp;China Conch Venture Holdings Ltd. | 61500 | 89569 |
| &nbsp;&nbsp;&nbsp;China Construction Bank Corp., Class H | 4583810 | 4904628 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;China Development Bank Financial Leasing Co. Ltd., Class H ± | 128000 | $22690 |
| &nbsp;&nbsp;&nbsp;China Education Group Holdings Ltd. \* | 34181 | 11552 |
| &nbsp;&nbsp;&nbsp;China Energy Engineering Corp. Ltd., Class A | 88674 | 37225 |
| &nbsp;&nbsp;&nbsp;China Energy Engineering Corp. Ltd., Class H | 152000 | 24813 |
| &nbsp;&nbsp;&nbsp;China Everbright Bank Co. Ltd., Class H | 198000 | 76764 |
| &nbsp;&nbsp;&nbsp;China Feihe Ltd. @± | 234000 | 103851 |
| &nbsp;&nbsp;&nbsp;China Foods Ltd. | 86000 | 40690 |
| &nbsp;&nbsp;&nbsp;China Galaxy Securities Co. Ltd., Class H | 96500 | 97224 |
| &nbsp;&nbsp;&nbsp;China Gas Holdings Ltd. | 203800 | 185835 |
| &nbsp;&nbsp;&nbsp;China Great Wall Securities Co. Ltd., Class A | 8500 | 10938 |
| &nbsp;&nbsp;&nbsp;China Hongqiao Group Ltd. | 107500 | 476547 |
| &nbsp;&nbsp;&nbsp;China Huiyuan Juice Group Ltd. \*§ | 84500 |  |
| &nbsp;&nbsp;&nbsp;China International Marine Containers Group Co. Ltd., Class H @ | 74460 | 92586 |
| &nbsp;&nbsp;&nbsp;China Jinmao Holdings Group Ltd. | 74000 | 12174 |
| &nbsp;&nbsp;&nbsp;China Jushi Co. Ltd., Class A | 22631 | 79639 |
| &nbsp;&nbsp;&nbsp;China Lesso Group Holdings Ltd. | 73000 | 45990 |
| &nbsp;&nbsp;&nbsp;China Literature Ltd. \*@± | 16800 | 54463 |
| &nbsp;&nbsp;&nbsp;China Medical System Holdings Ltd. | 64000 | 109208 |
| &nbsp;&nbsp;&nbsp;China Meheco Group Co. Ltd., Class A | 13860 | 20605 |
| &nbsp;&nbsp;&nbsp;China Mengniu Dairy Co. Ltd. | 193000 | 423354 |
| &nbsp;&nbsp;&nbsp;China Merchants Bank Co. Ltd., Class H | 212500 | 1335510 |
| &nbsp;&nbsp;&nbsp;China Merchants Energy Shipping Co. Ltd., Class A | 27400 | 64889 |
| &nbsp;&nbsp;&nbsp;China Merchants Expressway Network & Technology Holdings Co. Ltd., Class A | 12700 | 18127 |
| &nbsp;&nbsp;&nbsp;China Merchants Port Holdings Co. Ltd. | 61712 | 115220 |
| &nbsp;&nbsp;&nbsp;China Merchants Property Operation & Service Co. Ltd., Class A | 5000 | 7057 |
| &nbsp;&nbsp;&nbsp;China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 22000 | 26783 |
| &nbsp;&nbsp;&nbsp;China Minsheng Banking Corp. Ltd., Class H | 314380 | 147143 |
| &nbsp;&nbsp;&nbsp;China National Accord Medicines Corp. Ltd., Class A | 4160 | 15741 |
| &nbsp;&nbsp;&nbsp;China National Building Material Co. Ltd., Class H | 207591 | 126018 |
| &nbsp;&nbsp;&nbsp;China National Chemical Engineering Co. Ltd., Class A | 38700 | 49242 |
| &nbsp;&nbsp;&nbsp;China National Medicines Corp. Ltd., Class A | 4600 | 19510 |
| &nbsp;&nbsp;&nbsp;China National Nuclear Power Co. Ltd., Class A | 53700 | 70349 |
| &nbsp;&nbsp;&nbsp;China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd., Class A | 15100 | 14317 |
| &nbsp;&nbsp;&nbsp;China Nonferrous Mining Corp. Ltd. | 17000 | 24911 |
| &nbsp;&nbsp;&nbsp;China Oilfield Services Ltd., Class H | 134000 | 154316 |
| &nbsp;&nbsp;&nbsp;China Overseas Grand Oceans Group Ltd. | 95402 | 28835 |
| &nbsp;&nbsp;&nbsp;China Overseas Land & Investment Ltd. | 178000 | 262192 |
| &nbsp;&nbsp;&nbsp;China Pacific Insurance Group Co. Ltd., Class H | 94200 | 382989 |
| &nbsp;&nbsp;&nbsp;China Petroleum & Chemical Corp., Class H | 1436400 | 822506 |
| &nbsp;&nbsp;&nbsp;China Railway Group Ltd., Class H | 247000 | 127261 |
| &nbsp;&nbsp;&nbsp;China Railway Hi-tech Industry Co. Ltd., Class A | 10600 | 14071 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***China (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;China Railway Signal & Communication Corp. Ltd., Class H ± | 149000 | $65748 |
| &nbsp;&nbsp;&nbsp;China Reinsurance Group Corp., Class H | 422000 | 79113 |
| &nbsp;&nbsp;&nbsp;China Resources Beer Holdings Co. Ltd. | 60000 | 196194 |
| &nbsp;&nbsp;&nbsp;China Resources Building Materials Technology Holdings Ltd. @ | 238000 | 45529 |
| &nbsp;&nbsp;&nbsp;China Resources Double Crane Pharmaceutical Co. Ltd., Class A | 6300 | 16935 |
| &nbsp;&nbsp;&nbsp;China Resources Gas Group Ltd. | 59200 | 143674 |
| &nbsp;&nbsp;&nbsp;China Resources Land Ltd. | 232000 | 847380 |
| &nbsp;&nbsp;&nbsp;China Resources Medical Holdings Co. Ltd. @ | 71500 | 24620 |
| &nbsp;&nbsp;&nbsp;China Resources Pharmaceutical Group Ltd. ± | 134500 | 99144 |
| &nbsp;&nbsp;&nbsp;China Risun Group Ltd. @ | 58000 | 23596 |
| &nbsp;&nbsp;&nbsp;China Shenhua Energy Co. Ltd., Class H | 114500 | 673461 |
| &nbsp;&nbsp;&nbsp;China Shineway Pharmaceutical Group Ltd. | 36000 | 41182 |
| &nbsp;&nbsp;&nbsp;China South Publishing & Media Group Co. Ltd., Class A | 11600 | 18454 |
| &nbsp;&nbsp;&nbsp;China State Construction Engineering Corp. Ltd., Class A | 136300 | 98848 |
| &nbsp;&nbsp;&nbsp;China State Construction International Holdings Ltd. | 50000 | 53117 |
| &nbsp;&nbsp;&nbsp;China Taiping Insurance Holdings Co. Ltd. | 91000 | 237678 |
| &nbsp;&nbsp;&nbsp;China Tower Corp. Ltd., Class H ± | 321300 | 437622 |
| &nbsp;&nbsp;&nbsp;China Traditional Chinese Medicine Holdings Co. Ltd. | 124000 | 27991 |
| &nbsp;&nbsp;&nbsp;China TransInfo Technology Co. Ltd., Class A | 6900 | 9559 |
| &nbsp;&nbsp;&nbsp;China Travel International Investment Hong Kong Ltd. \* | 180000 | 25710 |
| &nbsp;&nbsp;&nbsp;China XD Electric Co. Ltd., Class A | 23000 | 50640 |
| &nbsp;&nbsp;&nbsp;China Yongda Automobiles Services Holdings Ltd. | 84000 | 14891 |
| &nbsp;&nbsp;&nbsp;China Youran Dairy Group Ltd. \*@± | 71000 | 34951 |
| &nbsp;&nbsp;&nbsp;China Zhenhua Group Science & Technology Co. Ltd., Class A | 3700 | 24311 |
| &nbsp;&nbsp;&nbsp;China Zheshang Bank Co. Ltd., Class H | 124800 | 39472 |
| &nbsp;&nbsp;&nbsp;Chinasoft International Ltd. @ | 164000 | 68602 |
| &nbsp;&nbsp;&nbsp;Chinese Universe Publishing and Media Group Co. Ltd., Class A | 9200 | 11267 |
| &nbsp;&nbsp;&nbsp;Chongqing Changan Automobile Co. Ltd., Class A | 41230 | 59683 |
| &nbsp;&nbsp;&nbsp;Chongqing Department Store Co. Ltd., Class A | 2400 | 7709 |
| &nbsp;&nbsp;&nbsp;Chongqing Rural Commercial Bank Co. Ltd., Class H | 137000 | 118634 |
| &nbsp;&nbsp;&nbsp;Chongqing Sanfeng Environment Group Corp. Ltd., Class A | 10300 | 12360 |
| &nbsp;&nbsp;&nbsp;Chongqing Zhifei Biological Products Co. Ltd., Class A \* | 7000 | 15159 |
| &nbsp;&nbsp;&nbsp;Chow Tai Seng Jewellery Co. Ltd., Class A | 12900 | 22296 |
| &nbsp;&nbsp;&nbsp;CIMC Enric Holdings Ltd. | 60000 | 77131 |
| &nbsp;&nbsp;&nbsp;CITIC Ltd. | 209000 | 315051 |
| &nbsp;&nbsp;&nbsp;CMOC Group Ltd., Class H | 9000 | 18479 |
| &nbsp;&nbsp;&nbsp;CNGR Advanced Material Co. Ltd., Class A | 2520 | 18020 |
| &nbsp;&nbsp;&nbsp;CNOOC Energy Technology & Services Ltd., Class A | 62100 | 40362 |
| &nbsp;&nbsp;&nbsp;CNSIG Inner Mongolia Chemical Industry Co. Ltd., Class A | 13650 | 17131 |
| &nbsp;&nbsp;&nbsp;COFCO Biotechnology Co. Ltd., Class A \* | 15100 | 14754 |
| &nbsp;&nbsp;&nbsp;COFCO Capital Holdings Co. Ltd., Class A | 11200 | 16877 |
| &nbsp;&nbsp;&nbsp;COFCO Joycome Foods Ltd. \*@ | 183000 | 29640 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;COFCO Sugar Holding Co. Ltd., Class A | 15600 | $31886 |
| &nbsp;&nbsp;&nbsp;Concord New Energy Group Ltd. | 420000 | 12909 |
| &nbsp;&nbsp;&nbsp;Consun Pharmaceutical Group Ltd. | 23000 | 48868 |
| &nbsp;&nbsp;&nbsp;COSCO Shipping Development Co. Ltd., Class H | 324200 | 46721 |
| &nbsp;&nbsp;&nbsp;COSCO Shipping Energy Transportation Co. Ltd., Class H @ | 86000 | 196651 |
| &nbsp;&nbsp;&nbsp;COSCO Shipping Holdings Co. Ltd., Class H @ | 203699 | 387073 |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING International Hong Kong Co. Ltd. | 34000 | 27187 |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING Ports Ltd. | 121550 | 79988 |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING Specialized Carriers Co. Ltd., Class A | 24600 | 32013 |
| &nbsp;&nbsp;&nbsp;CRRC Corp. Ltd., Class H | 177000 | 114445 |
| &nbsp;&nbsp;&nbsp;CSG Holding Co. Ltd., Class A | 19500 | 12561 |
| &nbsp;&nbsp;&nbsp;CSPC Pharmaceutical Group Ltd. | 100000 | 116054 |
| &nbsp;&nbsp;&nbsp;CSSC Hong Kong Shipping Co. Ltd. @ | 70000 | 20622 |
| &nbsp;&nbsp;&nbsp;CTS International Logistics Corp. Ltd., Class A | 11000 | 9044 |
| &nbsp;&nbsp;&nbsp;Daqin Railway Co. Ltd., Class A | 57300 | 44458 |
| &nbsp;&nbsp;&nbsp;Dian Diagnostics Group Co. Ltd., Class A | 4800 | 12827 |
| &nbsp;&nbsp;&nbsp;Dongfang Electric Corp. Ltd., Class H @ | 21000 | 91057 |
| &nbsp;&nbsp;&nbsp;Dongxing Securities Co. Ltd., Class A | 12000 | 21401 |
| &nbsp;&nbsp;&nbsp;Dongyue Group Ltd. | 104000 | 143509 |
| &nbsp;&nbsp;&nbsp;Dynagreen Environmental Protection Group Co. Ltd., Class H | 16000 | 11182 |
| &nbsp;&nbsp;&nbsp;Easyhome New Retail Group Co. Ltd., Class A \* | 51400 | 18229 |
| &nbsp;&nbsp;&nbsp;EEKA Fashion Holdings Ltd. @ | 17500 | 15132 |
| &nbsp;&nbsp;&nbsp;ENN Natural Gas Co. Ltd., Class A | 8100 | 26006 |
| &nbsp;&nbsp;&nbsp;Ever Sunshine Services Group Ltd. | 42000 | 9588 |
| &nbsp;&nbsp;&nbsp;Fangda Carbon New Material Co. Ltd., Class A | 15700 | 12954 |
| &nbsp;&nbsp;&nbsp;Fangda Special Steel Technology Co. Ltd., Class A | 19000 | 15677 |
| &nbsp;&nbsp;&nbsp;Far East Horizon Ltd. | 187000 | 167893 |
| &nbsp;&nbsp;&nbsp;FAW Jiefang Group Co. Ltd., Class A | 14900 | 14322 |
| &nbsp;&nbsp;&nbsp;Fiberhome Telecommunication Technologies Co. Ltd., Class A | 5800 | 42382 |
| &nbsp;&nbsp;&nbsp;FIH Mobile Ltd. \*@ | 16500 | 41644 |
| &nbsp;&nbsp;&nbsp;FinVolution Group, ADR | 3837 | 18379 |
| &nbsp;&nbsp;&nbsp;First Tractor Co. Ltd., Class H | 12000 | 12748 |
| &nbsp;&nbsp;&nbsp;Flat Glass Group Co. Ltd., Class H \* | 15000 | 16432 |
| &nbsp;&nbsp;&nbsp;Founder Securities Co. Ltd., Class A | 23800 | 23393 |
| &nbsp;&nbsp;&nbsp;Fu Shou Yuan International Group Ltd. @<> | 93000 | 31312 |
| &nbsp;&nbsp;&nbsp;Fufeng Group Ltd. | 124000 | 109432 |
| &nbsp;&nbsp;&nbsp;Fujian Funeng Co. Ltd., Class A | 18330 | 27595 |
| &nbsp;&nbsp;&nbsp;Fujian Sunner Development Co. Ltd., Class A | 9800 | 25109 |
| &nbsp;&nbsp;&nbsp;Ganfeng Lithium Group Co. Ltd., Class H ± | 9200 | 85357 |
| &nbsp;&nbsp;&nbsp;Gansu Energy Chemical Co. Ltd., Class A | 56900 | 21745 |
| &nbsp;&nbsp;&nbsp;Gansu Shangfeng Cement Co. Ltd., Class A | 6240 | 11643 |
| &nbsp;&nbsp;&nbsp;GCL Energy Technology Co. Ltd., Class A | 4200 | 9691 |
| &nbsp;&nbsp;&nbsp;GCL Technology Holdings Ltd. \*@ | 395000 | 43322 |
| &nbsp;&nbsp;&nbsp;GDS Holdings Ltd., Class A \*@ | 5500 | 27103 |
| &nbsp;&nbsp;&nbsp;Geely Automobile Holdings Ltd. | 294000 | 784380 |
| &nbsp;&nbsp;&nbsp;GEM Co. Ltd., Class A | 33500 | 38261 |
| &nbsp;&nbsp;&nbsp;Genertec Universal Medical Group Co. Ltd. ± | 75500 | 55750 |
| &nbsp;&nbsp;&nbsp;Genscript Biotech Corp. \* | 22000 | 30722 |
| &nbsp;&nbsp;&nbsp;GF Securities Co. Ltd., Class H | 38400 | 70520 |
| &nbsp;&nbsp;&nbsp;Global New Material International Holdings Ltd. \* | 25000 | 23306 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***China (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;GoerTek, Inc., Class A | 6900 | $22333 |
| &nbsp;&nbsp;&nbsp;Goldwind Science & Technology Co. Ltd., Class H | 42000 | 76488 |
| &nbsp;&nbsp;&nbsp;Gotion High-tech Co. Ltd., Class A | 5100 | 26356 |
| &nbsp;&nbsp;&nbsp;Grand Pharmaceutical Group Ltd. | 67500 | 61378 |
| &nbsp;&nbsp;&nbsp;Great Wall Motor Co. Ltd., Class H | 107500 | 169177 |
| &nbsp;&nbsp;&nbsp;Gree Electric Appliances, Inc. of Zhuhai, Class A | 12300 | 67338 |
| &nbsp;&nbsp;&nbsp;Green Development Electricity Group of Tianjin Co. Ltd., Class A | 10700 | 15659 |
| &nbsp;&nbsp;&nbsp;Greentown China Holdings Ltd. @ | 78500 | 87398 |
| &nbsp;&nbsp;&nbsp;Greentown Management Holdings Co. Ltd. @± | 61000 | 16570 |
| &nbsp;&nbsp;&nbsp;Greentown Service Group Co. Ltd. | 102000 | 55545 |
| &nbsp;&nbsp;&nbsp;GRG Banking Equipment Co. Ltd., Class A | 12500 | 20573 |
| &nbsp;&nbsp;&nbsp;Guangdong Construction Engineering Group Co. Ltd., Class A | 42300 | 24003 |
| &nbsp;&nbsp;&nbsp;Guangdong Provincial Expressway Development Co. Ltd., Class A | 12700 | 23991 |
| &nbsp;&nbsp;&nbsp;Guangdong Tapai Group Co. Ltd., Class A | 9300 | 12614 |
| &nbsp;&nbsp;&nbsp;Guangdong Xinbao Electrical Appliances Holdings Co. Ltd., Class A | 4200 | 9028 |
| &nbsp;&nbsp;&nbsp;Guanghui Energy Co. Ltd., Class A | 48700 | 47021 |
| &nbsp;&nbsp;&nbsp;Guangshen Railway Co. Ltd., Class H | 82000 | 23530 |
| &nbsp;&nbsp;&nbsp;Guangxi Liugong Machinery Co. Ltd., Class A | 14900 | 20102 |
| &nbsp;&nbsp;&nbsp;Guangzhou Baiyun International Airport Co. Ltd., Class A | 8300 | 10777 |
| &nbsp;&nbsp;&nbsp;Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | 16000 | 34178 |
| &nbsp;&nbsp;&nbsp;Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A | 4100 | 19342 |
| &nbsp;&nbsp;&nbsp;Guangzhou Yuexiu Capital Holdings Group Co. Ltd., Class A | 18042 | 22043 |
| &nbsp;&nbsp;&nbsp;Guizhou Panjiang Refined Coal Co. Ltd., Class A | 9269 | 7608 |
| &nbsp;&nbsp;&nbsp;Guizhou Xinbang Pharmaceutical Co. Ltd., Class A | 32400 | 15383 |
| &nbsp;&nbsp;&nbsp;Guosen Securities Co. Ltd., Class A | 22400 | 36349 |
| &nbsp;&nbsp;&nbsp;Guotai Haitong Securities Co. Ltd., Class H ± | 105152 | 179428 |
| &nbsp;&nbsp;&nbsp;Haier Smart Home Co. Ltd., Class H | 144600 | 382099 |
| &nbsp;&nbsp;&nbsp;Hainan Meilan International Airport Co. Ltd., Class H \*@ | 23000 | 18479 |
| &nbsp;&nbsp;&nbsp;Haitian International Holdings Ltd. | 38000 | 97505 |
| &nbsp;&nbsp;&nbsp;Han's Laser Technology Industry Group Co. Ltd., Class A | 3000 | 26612 |
| &nbsp;&nbsp;&nbsp;Hangzhou Binjiang Real Estate Group Co. Ltd., Class A | 22900 | 32353 |
| &nbsp;&nbsp;&nbsp;Hangzhou GreatStar Industrial Co. Ltd. | 4400 | 18968 |
| &nbsp;&nbsp;&nbsp;Hangzhou Robam Appliances Co. Ltd., Class A | 2900 | 8866 |
| &nbsp;&nbsp;&nbsp;Harbin Electric Co. Ltd., Class H | 42000 | 111412 |
| &nbsp;&nbsp;&nbsp;Health & Happiness H&H International Holdings Ltd. | 13000 | 19829 |
| &nbsp;&nbsp;&nbsp;Hello Group, Inc., ADR | 7107 | 40936 |
| &nbsp;&nbsp;&nbsp;Henan Mingtai Al Industrial Co. Ltd., Class A | 8400 | 18531 |
| &nbsp;&nbsp;&nbsp;Henan Pinggao Electric Co. Ltd., Class A | 9400 | 27595 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Henan Shenhuo Coal Industry & Electricity Power Co. Ltd., Class A | 8500 | $37897 |
| &nbsp;&nbsp;&nbsp;Hengan International Group Co. Ltd. | 42000 | 147299 |
| &nbsp;&nbsp;&nbsp;Hengli Petrochemical Co. Ltd., Class A | 35500 | 111255 |
| &nbsp;&nbsp;&nbsp;Hengtong Optic-electric Co. Ltd., Class A | 9680 | 73789 |
| &nbsp;&nbsp;&nbsp;Hengyi Petrochemical Co. Ltd., Class A | 25000 | 44114 |
| &nbsp;&nbsp;&nbsp;Hesteel Co. Ltd., Class A | 65500 | 22092 |
| &nbsp;&nbsp;&nbsp;Hisense Visual Technology Co. Ltd., Class A | 8800 | 28483 |
| &nbsp;&nbsp;&nbsp;HLA Group Corp. Ltd., Class A | 24000 | 22686 |
| &nbsp;&nbsp;&nbsp;Hopson Development Holdings Ltd. \* | 101900 | 34308 |
| &nbsp;&nbsp;&nbsp;Horizon Construction Development Ltd. | 115553 | 12968 |
| &nbsp;&nbsp;&nbsp;Hoshine Silicon Industry Co. Ltd., Class A | 4200 | 24599 |
| &nbsp;&nbsp;&nbsp;Hua Han Health Industry Holdings Ltd. \*§ | 504000 |  |
| &nbsp;&nbsp;&nbsp;Hua Hong Semiconductor Ltd., Class H \*@± | 3000 | 29708 |
| &nbsp;&nbsp;&nbsp;Huafon Chemical Co. Ltd., Class A | 27754 | 41220 |
| &nbsp;&nbsp;&nbsp;Huaibei Mining Holdings Co. Ltd., Class A | 10400 | 20399 |
| &nbsp;&nbsp;&nbsp;Huapont Life Sciences Co. Ltd., Class A | 27600 | 20895 |
| &nbsp;&nbsp;&nbsp;Huatai Securities Co. Ltd., Class H ± | 46400 | 87638 |
| &nbsp;&nbsp;&nbsp;Huaxi Securities Co. Ltd., Class A | 12600 | 15175 |
| &nbsp;&nbsp;&nbsp;Huaxia Bank Co. Ltd., Class A | 43300 | 45881 |
| &nbsp;&nbsp;&nbsp;Huaxin Building Materials Group Co. Ltd., Class H | 17700 | 36185 |
| &nbsp;&nbsp;&nbsp;Huayu Automotive Systems Co. Ltd., Class A | 17500 | 48663 |
| &nbsp;&nbsp;&nbsp;Hubei Jumpcan Pharmaceutical Co. Ltd., Class A | 4400 | 16764 |
| &nbsp;&nbsp;&nbsp;Hubei Xingfa Chemicals Group Co. Ltd., Class A | 9400 | 45420 |
| &nbsp;&nbsp;&nbsp;Hubei Yihua Chemical Industry Co. Ltd., Class A | 12200 | 29033 |
| &nbsp;&nbsp;&nbsp;Humanwell Healthcare Group Co. Ltd., Class A | 9700 | 26440 |
| &nbsp;&nbsp;&nbsp;Hunan Valin Steel Co. Ltd., Class A | 47300 | 34714 |
| &nbsp;&nbsp;&nbsp;Hygeia Healthcare Holdings Co. Ltd. \*@± | 22400 | 32595 |
| &nbsp;&nbsp;&nbsp;Hytera Communications Corp. Ltd., Class A \* | 11800 | 17047 |
| &nbsp;&nbsp;&nbsp;IKD Co. Ltd., Class A | 7100 | 17328 |
| &nbsp;&nbsp;&nbsp;Industrial & Commercial Bank of China Ltd., Class H | 3215000 | 2812694 |
| &nbsp;&nbsp;&nbsp;Industrial Bank Co. Ltd., Class A | 68600 | 186887 |
| &nbsp;&nbsp;&nbsp;Industrial Securities Co. Ltd., Class A | 28910 | 24565 |
| &nbsp;&nbsp;&nbsp;Infore Environment Technology Group Co. Ltd., Class A | 12400 | 15275 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia BaoTou Steel Union Co. Ltd., Class A | 169960 | 61753 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia Berun Chemical Co. Ltd., Class A | 34700 | 42244 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia Dian Tou Energy Corp. Ltd., Class A | 12000 | 52234 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia ERDOS Resources Co. Ltd., Class A | 11760 | 25365 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A | 55300 | 44107 |
| &nbsp;&nbsp;&nbsp;Intco Medical Technology Co. Ltd., Class A | 5700 | 48417 |
| &nbsp;&nbsp;&nbsp;iQIYI, Inc., ADR \*@ | 31465 | 42478 |
| &nbsp;&nbsp;&nbsp;IRICO Display Devices Co. Ltd., Class A \* | 22000 | 17802 |
| &nbsp;&nbsp;&nbsp;JA Solar Technology Co. Ltd., Class A \* | 14800 | 23352 |
| &nbsp;&nbsp;&nbsp;JCET Group Co. Ltd., Class A | 5195 | 29140 |
| &nbsp;&nbsp;&nbsp;JD Health International, Inc. \*± | 3400 | 20406 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***China (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;JD Logistics, Inc. \*± | 121400 | $211334 |
| &nbsp;&nbsp;&nbsp;JD.com, Inc., Class A | 118800 | 1715064 |
| &nbsp;&nbsp;&nbsp;Jiangsu Changshu Rural Commercial Bank Co. Ltd., Class A | 24442 | 25262 |
| &nbsp;&nbsp;&nbsp;Jiangsu Eastern Shenghong Co. Ltd., Class A \* | 29100 | 44862 |
| &nbsp;&nbsp;&nbsp;Jiangsu Guotai International Group Co. Ltd., Class A | 10400 | 13655 |
| &nbsp;&nbsp;&nbsp;Jiangsu Jiangyin Rural Commercial Bank Co. Ltd., Class A | 34700 | 22804 |
| &nbsp;&nbsp;&nbsp;Jiangsu Lihua Foods Group Co. Ltd. | 4320 | 12332 |
| &nbsp;&nbsp;&nbsp;Jiangsu Phoenix Publishing & Media Corp. Ltd., Class A | 14700 | 20811 |
| &nbsp;&nbsp;&nbsp;Jiangsu Provincial Agricultural Reclamation & Development Corp., Class A | 14300 | 21114 |
| &nbsp;&nbsp;&nbsp;Jiangsu Yanghe Distillery Co. Ltd., Class A | 4400 | 32318 |
| &nbsp;&nbsp;&nbsp;Jiangsu Zhangjiagang Rural Commercial Bank Co. Ltd., Class A | 27840 | 18095 |
| &nbsp;&nbsp;&nbsp;Jiangsu Zhongtian Technology Co. Ltd., Class A | 11500 | 50090 |
| &nbsp;&nbsp;&nbsp;Jiangxi Copper Co. Ltd., Class H | 70000 | 304418 |
| &nbsp;&nbsp;&nbsp;Jilin Aodong Pharmaceutical Group Co. Ltd., Class A | 7300 | 18598 |
| &nbsp;&nbsp;&nbsp;Jinan Acetate Chemical Co. Ltd. | 19000 | 24991 |
| &nbsp;&nbsp;&nbsp;JinkoSolar Holding Co. Ltd., ADR | 2327 | 59129 |
| &nbsp;&nbsp;&nbsp;Jinneng Holding Shanxi Coal Industry Co. Ltd., Class A | 15000 | 35675 |
| &nbsp;&nbsp;&nbsp;Jinneng Science&Technology Co. Ltd., Class A | 10600 | 10940 |
| &nbsp;&nbsp;&nbsp;Jiumaojiu International Holdings Ltd. @± | 74000 | 15383 |
| &nbsp;&nbsp;&nbsp;Jizhong Energy Resources Co. Ltd., Class A | 21200 | 17615 |
| &nbsp;&nbsp;&nbsp;Joincare Pharmaceutical Group Industry Co. Ltd., Class A | 18700 | 30318 |
| &nbsp;&nbsp;&nbsp;Jointown Pharmaceutical Group Co. Ltd., Class A | 28792 | 22006 |
| &nbsp;&nbsp;&nbsp;KE Holdings, Inc., Class A | 14000 | 67668 |
| &nbsp;&nbsp;&nbsp;Keda Industrial Group Co. Ltd., Class A | 18900 | 43473 |
| &nbsp;&nbsp;&nbsp;Kinetic Development Group Ltd. | 104000 | 28118 |
| &nbsp;&nbsp;&nbsp;Kingboard Holdings Ltd. | 59000 | 247250 |
| &nbsp;&nbsp;&nbsp;Kingfa Sci & Tech Co. Ltd., Class A | 13400 | 32393 |
| &nbsp;&nbsp;&nbsp;Kingsoft Corp. Ltd. @ | 46600 | 133598 |
| &nbsp;&nbsp;&nbsp;Kunlun Energy Co. Ltd. | 354000 | 323246 |
| &nbsp;&nbsp;&nbsp;Lao Feng Xiang Co. Ltd., Class A | 2700 | 16247 |
| &nbsp;&nbsp;&nbsp;LB Group Co. Ltd., Class A | 11200 | 28226 |
| &nbsp;&nbsp;&nbsp;Lee & Man Paper Manufacturing Ltd. | 70000 | 30799 |
| &nbsp;&nbsp;&nbsp;Legend Holdings Corp., Class H \*± | 38400 | 39325 |
| &nbsp;&nbsp;&nbsp;Lenovo Group Ltd. @ | 184000 | 214712 |
| &nbsp;&nbsp;&nbsp;Lens Technology Co. Ltd., Class A | 9540 | 38639 |
| &nbsp;&nbsp;&nbsp;Lepu Medical Technology Beijing Co. Ltd., Class A | 14700 | 34472 |
| &nbsp;&nbsp;&nbsp;LexinFintech Holdings Ltd., ADR | 7280 | 15870 |
| &nbsp;&nbsp;&nbsp;Leyard Optoelectronic Co. Ltd., Class A | 20300 | 21040 |
| &nbsp;&nbsp;&nbsp;Li Auto, Inc., Class A \*@ | 45600 | 393705 |
| &nbsp;&nbsp;&nbsp;Li Ning Co. Ltd. | 157500 | 429845 |
| &nbsp;&nbsp;&nbsp;Lianhe Chemical Technology Co. Ltd., Class A | 6700 | 16061 |
| &nbsp;&nbsp;&nbsp;Livzon Pharmaceutical Group, Inc., Class H | 6800 | 23779 |
| &nbsp;&nbsp;&nbsp;Loncin Motor Co. Ltd., Class A | 10000 | 19542 |
| &nbsp;&nbsp;&nbsp;Longfor Group Holdings Ltd. @± | 136925 | 131840 |
| &nbsp;&nbsp;&nbsp;LONGi Green Energy Technology Co. Ltd., Class A \* | 13900 | 35292 |
| &nbsp;&nbsp;&nbsp;Lonking Holdings Ltd. | 158000 | 60248 |
| &nbsp;&nbsp;&nbsp;Luenmei Quantum Co. Ltd., Class A | 13300 | 12976 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Luxi Chemical Group Co. Ltd., Class A | 8600 | $19981 |
| &nbsp;&nbsp;&nbsp;Luye Pharma Group Ltd. \*± | 161500 | 51697 |
| &nbsp;&nbsp;&nbsp;Maccura Biotechnology Co. Ltd., Class A | 3800 | 5897 |
| &nbsp;&nbsp;&nbsp;Mango Excellent Media Co. Ltd., Class A | 8800 | 26241 |
| &nbsp;&nbsp;&nbsp;Maoyan Entertainment ± | 22130 | 16172 |
| &nbsp;&nbsp;&nbsp;Metallurgical Corp. of China Ltd., Class H | 225000 | 46772 |
| &nbsp;&nbsp;&nbsp;Ming Yang Smart Energy Group Ltd., Class A | 6800 | 16704 |
| &nbsp;&nbsp;&nbsp;Mingfa Group International Co. Ltd. \* | 91000 | 1184 |
| &nbsp;&nbsp;&nbsp;Minth Group Ltd. | 56000 | 231679 |
| &nbsp;&nbsp;&nbsp;MLS Co. Ltd., Class A | 20000 | 24377 |
| &nbsp;&nbsp;&nbsp;MMG Ltd. \* | 42400 | 39041 |
| &nbsp;&nbsp;&nbsp;Morimatsu International Holdings Co. Ltd. | 30000 | 25251 |
| &nbsp;&nbsp;&nbsp;Nanjing Iron & Steel Co. Ltd., Class A | 36600 | 29139 |
| &nbsp;&nbsp;&nbsp;Nanjing Tanker Corp., Class A \* | 42600 | 26516 |
| &nbsp;&nbsp;&nbsp;Nanjing Xinjiekou Department Store Co. Ltd., Class A | 6900 | 6922 |
| &nbsp;&nbsp;&nbsp;NetDragon Websoft Holdings Ltd. | 25500 | 29073 |
| &nbsp;&nbsp;&nbsp;New China Life Insurance Co. Ltd., Class H | 4100 | 24199 |
| &nbsp;&nbsp;&nbsp;New Hope Liuhe Co. Ltd., Class A | 13600 | 16143 |
| &nbsp;&nbsp;&nbsp;Newland Digital Technology Co. Ltd., Class A | 2500 | 7274 |
| &nbsp;&nbsp;&nbsp;Nexteer Automotive Group Ltd. | 69000 | 44262 |
| &nbsp;&nbsp;&nbsp;Nine Dragons Paper Holdings Ltd. \* | 109000 | 91885 |
| &nbsp;&nbsp;&nbsp;Ningbo Huaxiang Electronic Co. Ltd., Class A | 8950 | 33283 |
| &nbsp;&nbsp;&nbsp;Ningbo Shanshan Co. Ltd., Class A \* | 16300 | 31311 |
| &nbsp;&nbsp;&nbsp;Ningbo Zhoushan Port Co. Ltd., Class A | 33200 | 19656 |
| &nbsp;&nbsp;&nbsp;Noah Holdings Ltd., ADR | 2147 | 21255 |
| &nbsp;&nbsp;&nbsp;Northeast Securities Co. Ltd., Class A | 8500 | 9917 |
| &nbsp;&nbsp;&nbsp;Offshore Oil Engineering Co. Ltd., Class A | 27400 | 25821 |
| &nbsp;&nbsp;&nbsp;Onewo, Inc., Class H @ | 10700 | 22229 |
| &nbsp;&nbsp;&nbsp;ORG Technology Co. Ltd., Class A | 26800 | 19785 |
| &nbsp;&nbsp;&nbsp;Oriental Energy Co. Ltd., Class A \* | 11300 | 14182 |
| &nbsp;&nbsp;&nbsp;Oriental Pearl Group Co. Ltd., Class A | 10700 | 14590 |
| &nbsp;&nbsp;&nbsp;People's Insurance Co. Group of China Ltd. (The), Class H | 300000 | 206601 |
| &nbsp;&nbsp;&nbsp;PetroChina Co. Ltd., Class H | 1634000 | 2240155 |
| &nbsp;&nbsp;&nbsp;PICC Property & Casualty Co. Ltd., Class H | 150000 | 272790 |
| &nbsp;&nbsp;&nbsp;Ping An Bank Co. Ltd., Class A | 42300 | 67845 |
| &nbsp;&nbsp;&nbsp;Ping An Insurance Group Co. of China Ltd., Class H | 331500 | 2513349 |
| &nbsp;&nbsp;&nbsp;Pingdingshan Tianan Coal Mining Co. Ltd., Class A | 15900 | 18781 |
| &nbsp;&nbsp;&nbsp;Poly Property Group Co. Ltd. | 106431 | 23753 |
| &nbsp;&nbsp;&nbsp;Poly Property Services Co. Ltd., Class H | 10200 | 40586 |
| &nbsp;&nbsp;&nbsp;Postal Savings Bank of China Co. Ltd., Class H ± | 571000 | 357549 |
| &nbsp;&nbsp;&nbsp;Power Construction Corp. of China Ltd., Class A | 84900 | 70543 |
| &nbsp;&nbsp;&nbsp;Q Technology Group Co. Ltd. | 27000 | 25377 |
| &nbsp;&nbsp;&nbsp;Qfin Holdings, Inc., ADR | 1636 | 21121 |
| &nbsp;&nbsp;&nbsp;Qingdao Hanhe Cable Co. Ltd., Class A | 35800 | 45707 |
| &nbsp;&nbsp;&nbsp;Qingdao Port International Co. Ltd. Class H ± | 56000 | 48635 |
| &nbsp;&nbsp;&nbsp;Qingdao Sentury Tire Co. Ltd., Class A | 7900 | 19441 |
| &nbsp;&nbsp;&nbsp;Qinhuangdao Port Co. Ltd., Class H | 43000 | 13106 |
| &nbsp;&nbsp;&nbsp;Renhe Pharmacy Co. Ltd., Class A | 19700 | 16369 |
| &nbsp;&nbsp;&nbsp;Rongsheng Petrochemical Co. Ltd., Class A | 22009 | 38231 |
| &nbsp;&nbsp;&nbsp;SAIC Motor Corp. Ltd., Class A | 29700 | 62726 |
| &nbsp;&nbsp;&nbsp;Sailun Group Co. Ltd., Class A | 11500 | 21425 |
| &nbsp;&nbsp;&nbsp;Sanan Optoelectronics Co. Ltd., Class A | 11300 | 19089 |
| &nbsp;&nbsp;&nbsp;Sansteel Minguang Co. Ltd. Fujian, Class A \* | 13700 | 7675 |
| &nbsp;&nbsp;&nbsp;Sansure Biotech, Inc., Class A | 3333 | 8713 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***China (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Sany Heavy Equipment International Holdings Co. Ltd. | 47000 | $66233 |
| &nbsp;&nbsp;&nbsp;Sany Heavy Industry Co. Ltd., Class A | 11000 | 30604 |
| &nbsp;&nbsp;&nbsp;Satellite Chemical Co. Ltd., Class A | 8826 | 35288 |
| &nbsp;&nbsp;&nbsp;SDIC Capital Co. Ltd., Class A | 20400 | 20464 |
| &nbsp;&nbsp;&nbsp;Sealand Securities Co. Ltd., Class A | 24800 | 13749 |
| &nbsp;&nbsp;&nbsp;Seazen Group Ltd. \*@ | 72000 | 18732 |
| &nbsp;&nbsp;&nbsp;Seazen Holdings Co. Ltd., Class A \* | 13800 | 27987 |
| &nbsp;&nbsp;&nbsp;SF Holding Co. Ltd., Class A | 8300 | 45704 |
| &nbsp;&nbsp;&nbsp;Shaanxi Coal Industry Co. Ltd., Class A | 32937 | 122008 |
| &nbsp;&nbsp;&nbsp;Shaanxi Construction Engineering Group Corp. Ltd., Class A | 31000 | 15616 |
| &nbsp;&nbsp;&nbsp;Shan Xi Hua Yang Group New Energy Co. Ltd., Class A | 32400 | 41320 |
| &nbsp;&nbsp;&nbsp;Shandong Buchang Pharmaceuticals Co. Ltd., Class A | 9200 | 21947 |
| &nbsp;&nbsp;&nbsp;Shandong Hi-Speed Road & Bridge Group Co. Ltd., Class A | 20600 | 17415 |
| &nbsp;&nbsp;&nbsp;Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | 12310 | 64506 |
| &nbsp;&nbsp;&nbsp;Shandong Humon Smelting Co. Ltd., Class A | 10800 | 23294 |
| &nbsp;&nbsp;&nbsp;Shandong Linglong Tyre Co. Ltd., Class A | 7700 | 15582 |
| &nbsp;&nbsp;&nbsp;Shandong Nanshan Aluminum Co. Ltd., Class A | 37900 | 33631 |
| &nbsp;&nbsp;&nbsp;Shandong Publishing & Media Co. Ltd., Class A | 13000 | 16748 |
| &nbsp;&nbsp;&nbsp;Shandong Sun Paper Industry JSC Ltd., Class A | 16800 | 36065 |
| &nbsp;&nbsp;&nbsp;Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 153600 | 73458 |
| &nbsp;&nbsp;&nbsp;Shanghai Bailian Group Co. Ltd., Class A | 15600 | 19172 |
| &nbsp;&nbsp;&nbsp;Shanghai Construction Group Co. Ltd., Class A | 55900 | 22172 |
| &nbsp;&nbsp;&nbsp;Shanghai Electric Group Co. Ltd., Class H \* | 60000 | 28235 |
| &nbsp;&nbsp;&nbsp;Shanghai Environment Group Co. Ltd., Class A | 13920 | 16946 |
| &nbsp;&nbsp;&nbsp;Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 24000 | 60664 |
| &nbsp;&nbsp;&nbsp;Shanghai Industrial Holdings Ltd. | 37000 | 66297 |
| &nbsp;&nbsp;&nbsp;Shanghai Jinjiang International Hotels Co. Ltd., Class A | 7900 | 30728 |
| &nbsp;&nbsp;&nbsp;Shanghai Lingang Holdings Corp. Ltd., Class A | 8760 | 12655 |
| &nbsp;&nbsp;&nbsp;Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class A | 13500 | 15126 |
| &nbsp;&nbsp;&nbsp;Shanghai Mechanical and Electrical Industry Co. Ltd., Class A | 7100 | 22498 |
| &nbsp;&nbsp;&nbsp;Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 38600 | 56857 |
| &nbsp;&nbsp;&nbsp;Shanghai Pudong Development Bank Co. Ltd., Class A | 118900 | 175212 |
| &nbsp;&nbsp;&nbsp;Shanghai Putailai New Energy Technology Group Co. Ltd. | 8900 | 41201 |
| &nbsp;&nbsp;&nbsp;Shanghai RAAS Blood Products Co. Ltd., Class A | 37200 | 31340 |
| &nbsp;&nbsp;&nbsp;Shanghai Rural Commercial Bank Co. Ltd., Class A | 9600 | 12660 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Shanghai Tunnel Engineering Co. Ltd., Class A | 25600 | $23569 |
| &nbsp;&nbsp;&nbsp;Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A | 18000 | 11960 |
| &nbsp;&nbsp;&nbsp;Shanghai Zhonggu Logistics Co. Ltd., Class A | 9300 | 15441 |
| &nbsp;&nbsp;&nbsp;Shanxi Coal International Energy Group Co. Ltd., Class A | 11800 | 18960 |
| &nbsp;&nbsp;&nbsp;Shanxi Coking Coal Energy Group Co. Ltd., Class A | 39900 | 38582 |
| &nbsp;&nbsp;&nbsp;Shanxi Lanhua Sci-Tech Venture Co. Ltd., Class A | 16700 | 15858 |
| &nbsp;&nbsp;&nbsp;Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A | 16200 | 31775 |
| &nbsp;&nbsp;&nbsp;Shanxi Meijin Energy Co. Ltd., Class A \* | 31400 | 21408 |
| &nbsp;&nbsp;&nbsp;Shanxi Securities Co. Ltd., Class A | 24700 | 19987 |
| &nbsp;&nbsp;&nbsp;Shanxi Taigang Stainless Steel Co. Ltd., Class A \* | 34300 | 21549 |
| &nbsp;&nbsp;&nbsp;Shenwan Hongyuan Group Co. Ltd., Class H ± | 43200 | 14930 |
| &nbsp;&nbsp;&nbsp;Shenzhen Agricultural Power Group Co. Ltd., Class A | 15600 | 16665 |
| &nbsp;&nbsp;&nbsp;Shenzhen Airport Co. Ltd., Class A | 16200 | 15735 |
| &nbsp;&nbsp;&nbsp;Shenzhen Aisidi Co. Ltd., Class A | 14200 | 26845 |
| &nbsp;&nbsp;&nbsp;Shenzhen Gas Corp. Ltd., Class A | 22300 | 22790 |
| &nbsp;&nbsp;&nbsp;Shenzhen International Holdings Ltd. @ | 116804 | 106210 |
| &nbsp;&nbsp;&nbsp;Shenzhen Jinjia Group Co. Ltd., Class A \* | 10602 | 5617 |
| &nbsp;&nbsp;&nbsp;Shenzhen Kaifa Technology Co. Ltd., Class A | 5900 | 22026 |
| &nbsp;&nbsp;&nbsp;Shenzhen Kangtai Biological Products Co. Ltd., Class A | 8900 | 17921 |
| &nbsp;&nbsp;&nbsp;Shenzhen Kinwong Electronic Co. Ltd., Class A | 3200 | 26116 |
| &nbsp;&nbsp;&nbsp;Shenzhen MTC Co. Ltd., Class A | 42300 | 57925 |
| &nbsp;&nbsp;&nbsp;Shenzhen Overseas Chinese Town Co. Ltd., Class A \* | 43200 | 13570 |
| &nbsp;&nbsp;&nbsp;Shenzhen Tagen Group Co. Ltd., Class A | 25000 | 13028 |
| &nbsp;&nbsp;&nbsp;Shenzhen Yan Tian Port Holding Co. Ltd., Class A | 28200 | 18737 |
| &nbsp;&nbsp;&nbsp;Shenzhen YUTO Packaging Technology Co. Ltd., Class A | 4900 | 22485 |
| &nbsp;&nbsp;&nbsp;Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., Class A | 31900 | 28260 |
| &nbsp;&nbsp;&nbsp;Shenzhou International Group Holdings Ltd. | 16600 | 99034 |
| &nbsp;&nbsp;&nbsp;Shoucheng Holdings Ltd. | 58400 | 12438 |
| &nbsp;&nbsp;&nbsp;Shougang Fushan Resources Group Ltd. | 193116 | 68467 |
| &nbsp;&nbsp;&nbsp;Shui On Land Ltd. | 183500 | 11935 |
| &nbsp;&nbsp;&nbsp;Sichuan Hebang Biotechnology Co. Ltd., Class A \* | 84300 | 34290 |
| &nbsp;&nbsp;&nbsp;Sichuan Kelun Pharmaceutical Co. Ltd., Class A | 3600 | 18078 |
| &nbsp;&nbsp;&nbsp;Sichuan Road & Bridge Group Co. Ltd., Class A | 28840 | 42040 |
| &nbsp;&nbsp;&nbsp;Sichuan Yahua Industrial Group Co. Ltd., Class A | 8400 | 28210 |
| &nbsp;&nbsp;&nbsp;Sihuan Pharmaceutical Holdings Group Ltd. | 98000 | 16997 |
| &nbsp;&nbsp;&nbsp;Silergy Corp. | 7000 | 61526 |
| &nbsp;&nbsp;&nbsp;Sinofert Holdings Ltd. | 244000 | 47299 |
| &nbsp;&nbsp;&nbsp;Sinoma International Engineering Co., Class A | 14600 | 21832 |
| &nbsp;&nbsp;&nbsp;Sinomine Resource Group Co. Ltd., Class A | 1300 | 13982 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***China (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Sinopec Engineering Group Co. Ltd., Class H | 111000 | $83237 |
| &nbsp;&nbsp;&nbsp;Sinopec Kantons Holdings Ltd. | 44000 | 22894 |
| &nbsp;&nbsp;&nbsp;Sinopec Shanghai Petrochemical Co. Ltd., Class H | 178000 | 27922 |
| &nbsp;&nbsp;&nbsp;Sinopharm Group Co. Ltd., Class H | 100800 | 259675 |
| &nbsp;&nbsp;&nbsp;Sinotrans Ltd., Class H | 145000 | 87467 |
| &nbsp;&nbsp;&nbsp;Sinotruk Hong Kong Ltd. | 35500 | 175571 |
| &nbsp;&nbsp;&nbsp;Sinotruk Jinan Truck Co. Ltd., Class A | 2800 | 9018 |
| &nbsp;&nbsp;&nbsp;SooChow Securities Co. Ltd., Class A | 20280 | 23015 |
| &nbsp;&nbsp;&nbsp;Southern Publishing & Media Co. Ltd., Class A | 10300 | 19368 |
| &nbsp;&nbsp;&nbsp;STO Express Co. Ltd., Class A | 15900 | 34110 |
| &nbsp;&nbsp;&nbsp;Sun Art Retail Group Ltd. | 172500 | 34539 |
| &nbsp;&nbsp;&nbsp;Sun King Technology Group Ltd. | 54000 | 10881 |
| &nbsp;&nbsp;&nbsp;Suning Universal Co. Ltd., Class A | 32100 | 9804 |
| &nbsp;&nbsp;&nbsp;Sunny Optical Technology Group Co. Ltd. | 11800 | 80435 |
| &nbsp;&nbsp;&nbsp;Sunshine Lake Pharma Co. Ltd., Class H \*@ | 4948 | 28396 |
| &nbsp;&nbsp;&nbsp;Suzhou Anjie Technology Co. Ltd., Class A | 1100 | 2135 |
| &nbsp;&nbsp;&nbsp;Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A | 2600 | 38878 |
| &nbsp;&nbsp;&nbsp;TangShan Port Group Co. Ltd., Class A | 55900 | 37951 |
| &nbsp;&nbsp;&nbsp;Tangshan Sanyou Chemical Industries Co. Ltd., Class A | 11600 | 11653 |
| &nbsp;&nbsp;&nbsp;Tasly Pharmaceutical Group Co. Ltd., Class A | 9600 | 19942 |
| &nbsp;&nbsp;&nbsp;TBEA Co. Ltd., Class A | 27300 | 104723 |
| &nbsp;&nbsp;&nbsp;TCL Electronics Holdings Ltd. | 50667 | 82451 |
| &nbsp;&nbsp;&nbsp;TCL Technology Group Corp., Class A | 78540 | 48546 |
| &nbsp;&nbsp;&nbsp;TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A \* | 16000 | 20335 |
| &nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group, Class A | 20400 | 96729 |
| &nbsp;&nbsp;&nbsp;Tian Di Science & Technology Co. Ltd., Class A | 40500 | 33534 |
| &nbsp;&nbsp;&nbsp;Tiangong International Co. Ltd. | 100000 | 39535 |
| &nbsp;&nbsp;&nbsp;Tianjin Chase Sun Pharmaceutical Co. Ltd., Class A | 30700 | 15732 |
| &nbsp;&nbsp;&nbsp;Tianma Microelectronics Co. Ltd., Class A \* | 15500 | 17748 |
| &nbsp;&nbsp;&nbsp;Tianneng Power International Ltd. @ | 74000 | 69648 |
| &nbsp;&nbsp;&nbsp;Tianqi Lithium Corp., Class H \* | 5400 | 31638 |
| &nbsp;&nbsp;&nbsp;Tianshan Aluminum Group Co. Ltd., Class A | 18200 | 46869 |
| &nbsp;&nbsp;&nbsp;Tianshui Huatian Technology Co. Ltd., Class A | 9400 | 15839 |
| &nbsp;&nbsp;&nbsp;Tinergy Chemical Co. Ltd., Class A | 21460 | 14507 |
| &nbsp;&nbsp;&nbsp;Titan Wind Energy Suzhou Co. Ltd., Class A | 8800 | 14178 |
| &nbsp;&nbsp;&nbsp;Tofflon Science & Technology Group Co. Ltd., Class A | 3500 | 7235 |
| &nbsp;&nbsp;&nbsp;Tomson Group Ltd. | 1426 | 426 |
| &nbsp;&nbsp;&nbsp;Tong Ren Tang Technologies Co. Ltd., Class H | 41000 | 20654 |
| &nbsp;&nbsp;&nbsp;Tongcheng Travel Holdings Ltd. | 16000 | 36729 |
| &nbsp;&nbsp;&nbsp;Tongkun Group Co. Ltd., Class A | 11100 | 29002 |
| &nbsp;&nbsp;&nbsp;Tongling Nonferrous Metals Group Co. Ltd., Class A | 49000 | 41210 |
| &nbsp;&nbsp;&nbsp;Tongyu Heavy Industry Co. Ltd., Class A | 40800 | 19667 |
| &nbsp;&nbsp;&nbsp;Topsports International Holdings Ltd. ± | 141000 | 49271 |
| &nbsp;&nbsp;&nbsp;Transfar Zhilian Co. Ltd., Class A | 27553 | 22894 |
| &nbsp;&nbsp;&nbsp;TravelSky Technology Ltd., Class H | 49000 | 60428 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Trina Solar Co. Ltd., Class A \* | 13541 | $32303 |
| &nbsp;&nbsp;&nbsp;Trip.com Group Ltd., ADR \* | 6319 | 314623 |
| &nbsp;&nbsp;&nbsp;Tsinghua Tongfang Co. Ltd., Class A \* | 20700 | 23672 |
| &nbsp;&nbsp;&nbsp;Universal Scientific Industrial Shanghai Co. Ltd., Class A | 6300 | 30095 |
| &nbsp;&nbsp;&nbsp;Venustech Group, Inc., Class A \* | 6700 | 12405 |
| &nbsp;&nbsp;&nbsp;Vipshop Holdings Ltd., ADR | 22586 | 355052 |
| &nbsp;&nbsp;&nbsp;Viva Biotech Holdings \*@± | 45500 | 10735 |
| &nbsp;&nbsp;&nbsp;Wanhua Chemical Group Co. Ltd., Class A | 14300 | 164462 |
| &nbsp;&nbsp;&nbsp;Wanxiang Qianchao Co. Ltd., Class A | 12300 | 27473 |
| &nbsp;&nbsp;&nbsp;Wasion Holdings Ltd. | 22000 | 78728 |
| &nbsp;&nbsp;&nbsp;Wasu Media Holding Co. Ltd., Class A | 20700 | 22144 |
| &nbsp;&nbsp;&nbsp;Weibo Corp., ADR @ | 2074 | 18148 |
| &nbsp;&nbsp;&nbsp;Weibo Corp., Class A | 2320 | 19868 |
| &nbsp;&nbsp;&nbsp;Weichai Power Co. Ltd., Class H | 49000 | 170724 |
| &nbsp;&nbsp;&nbsp;Wellhope Foods Co. Ltd., Class A | 7700 | 7568 |
| &nbsp;&nbsp;&nbsp;Wens Foodstuffs Group Co. Ltd., Class A | 5300 | 12751 |
| &nbsp;&nbsp;&nbsp;West China Cement Ltd. @ | 198000 | 55048 |
| &nbsp;&nbsp;&nbsp;Western Securities Co. Ltd., Class A | 22600 | 23816 |
| &nbsp;&nbsp;&nbsp;Wharf Holdings Ltd. (The) | 44000 | 121430 |
| &nbsp;&nbsp;&nbsp;Wingtech Technology Co. Ltd., Class A \* | 3900 | 17704 |
| &nbsp;&nbsp;&nbsp;Wuchan Zhongda Group Co. Ltd., Class A | 29100 | 21820 |
| &nbsp;&nbsp;&nbsp;Wushang Group Co. Ltd., Class A | 12600 | 15631 |
| &nbsp;&nbsp;&nbsp;Wuxi Biologics Cayman, Inc. \*± | 15000 | 63166 |
| &nbsp;&nbsp;&nbsp;Wuxi Taiji Industry Ltd. Co., Class A | 21000 | 27176 |
| &nbsp;&nbsp;&nbsp;XCMG Construction Machinery Co. Ltd., Class A | 47400 | 69163 |
| &nbsp;&nbsp;&nbsp;Xi'An Shaangu Power Co. Ltd., Class A | 19200 | 27988 |
| &nbsp;&nbsp;&nbsp;Xiamen Bank Co. Ltd., Class A | 14900 | 16500 |
| &nbsp;&nbsp;&nbsp;Xiamen C & D, Inc., Class A | 17600 | 22624 |
| &nbsp;&nbsp;&nbsp;Xiamen ITG Group Corp. Ltd., Class A | 17300 | 16027 |
| &nbsp;&nbsp;&nbsp;Xiamen Tungsten Co. Ltd., Class A | 3700 | 29790 |
| &nbsp;&nbsp;&nbsp;Xiamen Xiangyu Co. Ltd., Class A | 22200 | 25966 |
| &nbsp;&nbsp;&nbsp;Xiaomi Corp., Class B \*± | 4200 | 17012 |
| &nbsp;&nbsp;&nbsp;Xinfengming Group Co. Ltd., Class A | 4000 | 9693 |
| &nbsp;&nbsp;&nbsp;Xinhua Winshare Publishing and Media Co. Ltd., Class H | 18000 | 23874 |
| &nbsp;&nbsp;&nbsp;Xinxing Ductile Iron Pipes Co. Ltd., Class A | 18100 | 12105 |
| &nbsp;&nbsp;&nbsp;Xinyi Energy Holdings Ltd. @ | 224901 | 34132 |
| &nbsp;&nbsp;&nbsp;Xinyi Solar Holdings Ltd. @ | 368884 | 136899 |
| &nbsp;&nbsp;&nbsp;Xtep International Holdings Ltd. | 108430 | 61812 |
| &nbsp;&nbsp;&nbsp;Xuji Electric Co. Ltd., Class A | 3400 | 13372 |
| &nbsp;&nbsp;&nbsp;Yankuang Energy Group Co. Ltd., Class H @ | 86000 | 159800 |
| &nbsp;&nbsp;&nbsp;Yantai Changyu Pioneer Wine Co. Ltd., Class A | 3700 | 10316 |
| &nbsp;&nbsp;&nbsp;Yantai Jereh Oilfield Services Group Co. Ltd., Class A | 3200 | 44839 |
| &nbsp;&nbsp;&nbsp;Yiren Digital Ltd., ADR | 4574 | 7867 |
| &nbsp;&nbsp;&nbsp;Yixin Group Ltd. @± | 126500 | 34363 |
| &nbsp;&nbsp;&nbsp;Yixintang Pharmaceutical Group Co. Ltd., Class A | 2800 | 5139 |
| &nbsp;&nbsp;&nbsp;Yonfer Agricultural Technology Co. Ltd., Class A | 6900 | 15661 |
| &nbsp;&nbsp;&nbsp;YongXing Special Materials Technology Co. Ltd., Class A | 2400 | 25993 |
| &nbsp;&nbsp;&nbsp;Youngor Fashion Co. Ltd., Class A | 11500 | 12768 |
| &nbsp;&nbsp;&nbsp;YTO Express Group Co. Ltd., Class A | 12500 | 36460 |
| &nbsp;&nbsp;&nbsp;YUNDA Holding Group Co. Ltd., Class A | 16500 | 16146 |
| &nbsp;&nbsp;&nbsp;Yunnan Aluminium Co. Ltd., Class A | 6500 | 29168 |
| &nbsp;&nbsp;&nbsp;Yunnan Baiyao Group Co. Ltd., Class A | 4660 | 37006 |
| &nbsp;&nbsp;&nbsp;Yunnan Copper Co. Ltd., Class A | 8100 | 21141 |
| &nbsp;&nbsp;&nbsp;Yunnan Energy New Material Group Co. Ltd., Class A \* | 5200 | 51020 |
| &nbsp;&nbsp;&nbsp;Yunnan Tin Co. Ltd., Class A | 10200 | 46599 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***China (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;ZCZL Industrial Technology Group Co. Ltd., Class H | 21400 | $49371 |
| &nbsp;&nbsp;&nbsp;Zhefu Holding Group Co. Ltd., Class A | 16400 | 9876 |
| &nbsp;&nbsp;&nbsp;Zhejiang Chint Electrics Co. Ltd., Class A | 13100 | 61914 |
| &nbsp;&nbsp;&nbsp;Zhejiang Dahua Technology Co. Ltd., Class A | 12000 | 29270 |
| &nbsp;&nbsp;&nbsp;Zhejiang Hailiang Co. Ltd., Class A | 19700 | 39638 |
| &nbsp;&nbsp;&nbsp;Zhejiang Huayou Cobalt Co. Ltd., Class A | 5300 | 45058 |
| &nbsp;&nbsp;&nbsp;Zhejiang Jiahua Energy Chemical Industry Co. Ltd., Class A | 9000 | 11895 |
| &nbsp;&nbsp;&nbsp;Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A | 5700 | 33920 |
| &nbsp;&nbsp;&nbsp;Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A | 10800 | 26921 |
| &nbsp;&nbsp;&nbsp;Zhejiang Longsheng Group Co. Ltd., Class A | 19300 | 36347 |
| &nbsp;&nbsp;&nbsp;Zhejiang Medicine Co. Ltd., Class A | 10400 | 24193 |
| &nbsp;&nbsp;&nbsp;Zhejiang NHU Co. Ltd., Class A | 7900 | 39510 |
| &nbsp;&nbsp;&nbsp;Zhejiang Orient Holdings Group Co. Ltd., Class A | 17420 | 14096 |
| &nbsp;&nbsp;&nbsp;Zhejiang Runtu Co. Ltd., Class A | 19400 | 31649 |
| &nbsp;&nbsp;&nbsp;Zhejiang Semir Garment Co. Ltd., Class A | 21700 | 17057 |
| &nbsp;&nbsp;&nbsp;Zhejiang Wanliyang Co. Ltd., Class A | 11400 | 12987 |
| &nbsp;&nbsp;&nbsp;Zhejiang Xinan Chemical Industrial Group Co. Ltd., Class A | 14980 | 23181 |
| &nbsp;&nbsp;&nbsp;Zheshang Securities Co. Ltd., Class A | 13300 | 18598 |
| &nbsp;&nbsp;&nbsp;Zhongjin Gold Corp. Ltd., Class A | 10900 | 42144 |
| &nbsp;&nbsp;&nbsp;Zhongshan Broad Ocean Motor Co. Ltd., Class A | 22200 | 29436 |
| &nbsp;&nbsp;&nbsp;Zhongsheng Group Holdings Ltd. | 62500 | 65519 |
| &nbsp;&nbsp;&nbsp;Zhongtai Securities Co. Ltd., Class A | 15500 | 13619 |
| &nbsp;&nbsp;&nbsp;Zhou Hei Ya International Holdings Co. Ltd. ± | 54000 | 9573 |
| &nbsp;&nbsp;&nbsp;Zhuhai Huafa Properties Co. Ltd., Class A | 11600 | 6028 |
| &nbsp;&nbsp;&nbsp;Zhuzhou CRRC Times Electric Co. Ltd., Class H | 25600 | 118970 |
| &nbsp;&nbsp;&nbsp;Zhuzhou Kibing Group Co. Ltd., Class A | 10500 | 8861 |
| &nbsp;&nbsp;&nbsp;Zibo Qixiang Tengda Chemical Co. Ltd., Class A | 14700 | 12597 |
| &nbsp;&nbsp;&nbsp;Zoomlion Heavy Industry Science & Technology Co. Ltd., Class H @ | 85800 | 94650 |
| &nbsp;&nbsp;&nbsp;ZTE Corp., Class H @ | 20600 | 57272 |
| &nbsp;&nbsp;&nbsp;ZTO Express Cayman, Inc. @ | 19700 | 473582 |
|  |  | 59430522 |
| ***Colombia — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Almacenes Exito SA | 8474 | 10196 |
| &nbsp;&nbsp;&nbsp;Corp. Financiera Colombiana SA \* | 19558 | 85714 |
| &nbsp;&nbsp;&nbsp;Grupo Argos SA | 16280 | 73919 |
| &nbsp;&nbsp;&nbsp;Grupo de Inversiones Suramericana SA | 5605 | 75981 |
|  |  | 245810 |
| ***Czech Republic — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;CEZ AS | 740 | 41821 |
| &nbsp;&nbsp;&nbsp;Komercni Banka AS | 6412 | 325835 |
|  |  | 367656 |
| ***Greece — 0.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alpha Bank SA | 151965 | 556807 |
| &nbsp;&nbsp;&nbsp;Autohellas Tourist & Trading SA | 1582 | 19858 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Bank of Greece | 859 | $14893 |
| &nbsp;&nbsp;&nbsp;Fourlis Holdings SA | 4016 | 20378 |
| &nbsp;&nbsp;&nbsp;GEK Terna SA | 1337 | 52326 |
| &nbsp;&nbsp;&nbsp;Helleniq Energy Holdings SA | 9060 | 103359 |
| &nbsp;&nbsp;&nbsp;Motor Oil Hellas Corinth Refineries SA | 5094 | 224329 |
| &nbsp;&nbsp;&nbsp;Piraeus Bank SA | 85014 | 686468 |
|  |  | 1678418 |
| ***Hong Kong — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;BOC Aviation Ltd. ± | 10700 | 105414 |
| &nbsp;&nbsp;&nbsp;China Zhongwang Holdings Ltd. @\*§ | 154000 |  |
| &nbsp;&nbsp;&nbsp;CTEG @\*§ | 98000 |  |
| &nbsp;&nbsp;&nbsp;Damai Entertainment Holdings Ltd. \* | 430000 | 34548 |
| &nbsp;&nbsp;&nbsp;J&T Global Express Ltd. \* | 16200 | 20887 |
| &nbsp;&nbsp;&nbsp;Jinmao Property Services Co. Ltd. | 6646 | 2068 |
| &nbsp;&nbsp;&nbsp;Kingboard Laminates Holdings Ltd. | 30500 | 74449 |
| &nbsp;&nbsp;&nbsp;LK Technology Holdings Ltd. | 42500 | 14092 |
| &nbsp;&nbsp;&nbsp;Lumena Newmat \*§ | 5599 |  |
| &nbsp;&nbsp;&nbsp;Orient Overseas International Ltd. | 7000 | 124178 |
| &nbsp;&nbsp;&nbsp;Sino Biopharmaceutical Ltd. | 24000 | 18028 |
| &nbsp;&nbsp;&nbsp;Skyworth Group Ltd. \*@ | 30000 | 23530 |
| &nbsp;&nbsp;&nbsp;SSY Group Ltd. @ | 46000 | 14432 |
| &nbsp;&nbsp;&nbsp;Yuexiu Property Co. Ltd. @ | 46006 | 22119 |
|  |  | 453745 |
| ***Hungary — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;MOL Hungarian Oil & Gas PLC | 35861 | 426577 |
| &nbsp;&nbsp;&nbsp;OTP Bank Nyrt | 423 | 45051 |
|  |  | 471628 |
| ***India — 14.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aarti Pharmalabs Ltd. | 2707 | 17123 |
| &nbsp;&nbsp;&nbsp;ACC Ltd. | 5493 | 72548 |
| &nbsp;&nbsp;&nbsp;Adani Power Ltd. \* | 40280 | 63829 |
| &nbsp;&nbsp;&nbsp;Aditya Birla Capital Ltd. \* | 49870 | 155474 |
| &nbsp;&nbsp;&nbsp;Advanced Enzyme Technologies Ltd. | 3035 | 8185 |
| &nbsp;&nbsp;&nbsp;Ahluwalia Contracts India Ltd. | 1765 | 12108 |
| &nbsp;&nbsp;&nbsp;Ajmera Realty & Infra India Ltd. | 12980 | 13753 |
| &nbsp;&nbsp;&nbsp;Alembic Pharmaceuticals Ltd. | 4429 | 31052 |
| &nbsp;&nbsp;&nbsp;Allcargo Global Ltd. \*<> | 19940 | 4892 |
| &nbsp;&nbsp;&nbsp;Allcargo Logistics Ltd. \* | 19940 | 1522 |
| &nbsp;&nbsp;&nbsp;Amara Raja Energy & Mobility Ltd. | 10842 | 77090 |
| &nbsp;&nbsp;&nbsp;Ambuja Cements Ltd. | 36667 | 155155 |
| &nbsp;&nbsp;&nbsp;Apollo Tyres Ltd. | 31532 | 137183 |
| &nbsp;&nbsp;&nbsp;Arvind Ltd. | 13452 | 47724 |
| &nbsp;&nbsp;&nbsp;Ashoka Buildcon Ltd. \* | 8590 | 9265 |
| &nbsp;&nbsp;&nbsp;Aurobindo Pharma Ltd. | 24682 | 338579 |
| &nbsp;&nbsp;&nbsp;Avanti Feeds Ltd. | 2210 | 27354 |
| &nbsp;&nbsp;&nbsp;AvenuesAI Ltd. \* | 96394 | 13547 |
| &nbsp;&nbsp;&nbsp;Axis Bank Ltd. | 91351 | 1125313 |
| &nbsp;&nbsp;&nbsp;Axis Bank Ltd., GDR | 12180 | 747852 |
| &nbsp;&nbsp;&nbsp;Bajaj Consumer Care Ltd. \* | 9060 | 32964 |
| &nbsp;&nbsp;&nbsp;Bajaj Holdings & Investment Ltd. | 1809 | 166865 |
| &nbsp;&nbsp;&nbsp;Balrampur Chini Mills Ltd. | 8487 | 44069 |
| &nbsp;&nbsp;&nbsp;Bandhan Bank Ltd. ± | 54816 | 81529 |
| &nbsp;&nbsp;&nbsp;Bank of Baroda | 74524 | 194150 |
| &nbsp;&nbsp;&nbsp;Bank of India | 34110 | 49150 |
| &nbsp;&nbsp;&nbsp;Bank of Maharashtra | 39556 | 25561 |
| &nbsp;&nbsp;&nbsp;Bharat Heavy Electricals Ltd. | 27580 | 71459 |
| &nbsp;&nbsp;&nbsp;Biocon Ltd. | 11002 | 41758 |
| &nbsp;&nbsp;&nbsp;Birla Corp. Ltd. | 3237 | 28565 |
| &nbsp;&nbsp;&nbsp;Birlasoft Ltd. | 1959 | 6871 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***India (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Bombay Burmah Trading Co. | 1162 | $16159 |
| &nbsp;&nbsp;&nbsp;Can Fin Homes Ltd. | 5565 | 45964 |
| &nbsp;&nbsp;&nbsp;Canara Bank | 128930 | 168080 |
| &nbsp;&nbsp;&nbsp;Ceat Ltd. | 1302 | 44613 |
| &nbsp;&nbsp;&nbsp;Chambal Fertilizers and Chemicals Ltd. | 13907 | 62615 |
| &nbsp;&nbsp;&nbsp;Cholamandalam Financial Holdings Ltd. | 5275 | 76081 |
| &nbsp;&nbsp;&nbsp;CIE Automotive India Ltd. | 6907 | 32391 |
| &nbsp;&nbsp;&nbsp;Cipla Ltd. | 24545 | 316230 |
| &nbsp;&nbsp;&nbsp;City Union Bank Ltd. | 30829 | 77813 |
| &nbsp;&nbsp;&nbsp;CMS Info Systems Ltd. | 9549 | 26976 |
| &nbsp;&nbsp;&nbsp;Cochin Shipyard Ltd. ± | 105 | 1323 |
| &nbsp;&nbsp;&nbsp;Container Corp. Of India Ltd. | 8811 | 39388 |
| &nbsp;&nbsp;&nbsp;Coromandel International Ltd. | 1848 | 37350 |
| &nbsp;&nbsp;&nbsp;CreditAccess Grameen Ltd. \* | 688 | 8414 |
| &nbsp;&nbsp;&nbsp;CSB Bank Ltd. \* | 3753 | 13414 |
| &nbsp;&nbsp;&nbsp;Cyient Ltd. | 3556 | 28227 |
| &nbsp;&nbsp;&nbsp;Dalmia Bharat Ltd. | 5315 | 100294 |
| &nbsp;&nbsp;&nbsp;DCB Bank Ltd. | 19962 | 33329 |
| &nbsp;&nbsp;&nbsp;DCM Shriram Ltd. | 2904 | 34444 |
| &nbsp;&nbsp;&nbsp;Deepak Fertilisers & Petrochemicals Corp. Ltd. | 4535 | 43605 |
| &nbsp;&nbsp;&nbsp;Delhivery Ltd. \* | 10201 | 44311 |
| &nbsp;&nbsp;&nbsp;Digitide Solutions Ltd. \* | 3874 | 3050 |
| &nbsp;&nbsp;&nbsp;Dishman Carbogen Amcis Ltd. \* | 5637 | 7682 |
| &nbsp;&nbsp;&nbsp;DLF Ltd. | 16547 | 87891 |
| &nbsp;&nbsp;&nbsp;Dr. Reddy's Laboratories Ltd., ADR | 39575 | 548114 |
| &nbsp;&nbsp;&nbsp;eClerx Services Ltd. | 1142 | 16748 |
| &nbsp;&nbsp;&nbsp;Edelweiss Financial Services Ltd. | 23512 | 24690 |
| &nbsp;&nbsp;&nbsp;EID Parry India Ltd. \* | 7288 | 59626 |
| &nbsp;&nbsp;&nbsp;Electrosteel Castings Ltd. | 23821 | 18580 |
| &nbsp;&nbsp;&nbsp;EPL Ltd. | 9507 | 20548 |
| &nbsp;&nbsp;&nbsp;Escorts Kubota Ltd. | 785 | 22594 |
| &nbsp;&nbsp;&nbsp;Eureka Forbes Ltd. \* | 1532 | 7155 |
| &nbsp;&nbsp;&nbsp;Exide Industries Ltd. | 26178 | 79432 |
| &nbsp;&nbsp;&nbsp;Federal Bank Ltd. | 144130 | 395546 |
| &nbsp;&nbsp;&nbsp;FIEM Industries Ltd. | 1108 | 22102 |
| &nbsp;&nbsp;&nbsp;Finolex Cables Ltd. | 3624 | 29573 |
| &nbsp;&nbsp;&nbsp;Finolex Industries Ltd. | 15431 | 24648 |
| &nbsp;&nbsp;&nbsp;Firstsource Solutions Ltd. | 6425 | 13761 |
| &nbsp;&nbsp;&nbsp;Force Motors Ltd. | 205 | 41822 |
| &nbsp;&nbsp;&nbsp;Fortis Healthcare Ltd. | 4364 | 36900 |
| &nbsp;&nbsp;&nbsp;G R Infraprojects Ltd. | 1719 | 14318 |
| &nbsp;&nbsp;&nbsp;GAIL India Ltd. | 174459 | 253461 |
| &nbsp;&nbsp;&nbsp;Gateway Distriparks Ltd. | 25136 | 13476 |
| &nbsp;&nbsp;&nbsp;GHCL Ltd. | 5253 | 23416 |
| &nbsp;&nbsp;&nbsp;GHCL Textiles Ltd. | 5527 | 3803 |
| &nbsp;&nbsp;&nbsp;Gland Pharma Ltd. ± | 1958 | 35094 |
| &nbsp;&nbsp;&nbsp;Glenmark Pharmaceuticals Ltd. | 2640 | 59063 |
| &nbsp;&nbsp;&nbsp;Godawari Power & Ispat Ltd. | 11830 | 33476 |
| &nbsp;&nbsp;&nbsp;Godfrey Phillips India Ltd. | 1053 | 20766 |
| &nbsp;&nbsp;&nbsp;Godrej Industries Ltd. \* | 1769 | 14025 |
| &nbsp;&nbsp;&nbsp;Granules India Ltd. | 7725 | 50504 |
| &nbsp;&nbsp;&nbsp;Graphite India Ltd. | 2245 | 14675 |
| &nbsp;&nbsp;&nbsp;Grasim Industries Ltd. | 17291 | 463226 |
| &nbsp;&nbsp;&nbsp;Great Eastern Shipping Co. Ltd. (The) | 8516 | 127109 |
| &nbsp;&nbsp;&nbsp;Greaves Cotton Ltd. | 5025 | 6388 |
| &nbsp;&nbsp;&nbsp;Gujarat Ambuja Exports Ltd. | 8766 | 12525 |
| &nbsp;&nbsp;&nbsp;Gujarat Mineral Development Corp. Ltd. | 5595 | 33385 |
| &nbsp;&nbsp;&nbsp;Gujarat Narmada Valley Fertilizers & Chemicals Ltd. | 8187 | 31613 |
| &nbsp;&nbsp;&nbsp;Gujarat Pipavav Port Ltd. | 19498 | 29253 |
| &nbsp;&nbsp;&nbsp;Gujarat State Fertilizers & Chemicals Ltd. | 15178 | 22307 |
| &nbsp;&nbsp;&nbsp;Gujarat State Petronet Ltd. | 23082 | 55485 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;HDFC Bank Ltd. | 130983 | $1015011 |
| &nbsp;&nbsp;&nbsp;HEG Ltd. | 6270 | 35581 |
| &nbsp;&nbsp;&nbsp;Hero MotoCorp Ltd. | 1670 | 89091 |
| &nbsp;&nbsp;&nbsp;Hindalco Industries Ltd. | 143996 | 1348130 |
| &nbsp;&nbsp;&nbsp;IDFC First Bank Ltd. | 279140 | 173196 |
| &nbsp;&nbsp;&nbsp;IIFL Capital Services Ltd. | 8327 | 21334 |
| &nbsp;&nbsp;&nbsp;IIFL Finance Ltd. | 9954 | 44822 |
| &nbsp;&nbsp;&nbsp;India Cements Ltd. (The) \* | 5546 | 20041 |
| &nbsp;&nbsp;&nbsp;India Glycols Ltd. | 1312 | 11675 |
| &nbsp;&nbsp;&nbsp;Indian Bank | 14634 | 130836 |
| &nbsp;&nbsp;&nbsp;Indian Railway Finance Corp. Ltd. ± | 17190 | 15831 |
| &nbsp;&nbsp;&nbsp;Indus Towers Ltd. \* | 92068 | 403318 |
| &nbsp;&nbsp;&nbsp;IndusInd Bank Ltd. \* | 26758 | 212713 |
| &nbsp;&nbsp;&nbsp;Info Edge India Ltd. | 16055 | 163159 |
| &nbsp;&nbsp;&nbsp;IRCON International Ltd. ± | 18858 | 22902 |
| &nbsp;&nbsp;&nbsp;J Kumar Infraprojects Ltd. | 2507 | 11235 |
| &nbsp;&nbsp;&nbsp;Jain Irrigation Systems Ltd. \* | 17519 | 5135 |
| &nbsp;&nbsp;&nbsp;Jammu & Kashmir Bank Ltd. (The) | 31797 | 36910 |
| &nbsp;&nbsp;&nbsp;Jindal Saw Ltd. | 28522 | 55180 |
| &nbsp;&nbsp;&nbsp;Jindal Stainless Ltd. | 16836 | 125673 |
| &nbsp;&nbsp;&nbsp;Jindal Steel Ltd. | 29305 | 342952 |
| &nbsp;&nbsp;&nbsp;Jio Financial Services Ltd. | 176909 | 418637 |
| &nbsp;&nbsp;&nbsp;JK Lakshmi Cement Ltd. | 4751 | 28096 |
| &nbsp;&nbsp;&nbsp;JK Paper Ltd. | 10798 | 34859 |
| &nbsp;&nbsp;&nbsp;JK Tyre & Industries Ltd. | 10161 | 40768 |
| &nbsp;&nbsp;&nbsp;JM Financial Ltd. | 40467 | 48540 |
| &nbsp;&nbsp;&nbsp;JSW Energy Ltd. | 15508 | 77173 |
| &nbsp;&nbsp;&nbsp;JSW Steel Ltd. | 24208 | 284579 |
| &nbsp;&nbsp;&nbsp;Jubilant Pharmova Ltd. | 7273 | 61881 |
| &nbsp;&nbsp;&nbsp;Just Dial Ltd. \* | 1076 | 5533 |
| &nbsp;&nbsp;&nbsp;Kalpataru Projects International Ltd. | 7183 | 80048 |
| &nbsp;&nbsp;&nbsp;Karnataka Bank Ltd. (The) | 29326 | 69567 |
| &nbsp;&nbsp;&nbsp;Karur Vysya Bank Ltd. (The) | 43450 | 132848 |
| &nbsp;&nbsp;&nbsp;Kaveri Seed Co. Ltd. | 1897 | 15900 |
| &nbsp;&nbsp;&nbsp;Kirloskar Oil Engines Ltd. | 798 | 11141 |
| &nbsp;&nbsp;&nbsp;KNR Constructions Ltd. | 11124 | 13253 |
| &nbsp;&nbsp;&nbsp;Kotak Mahindra Bank Ltd. | 144350 | 537230 |
| &nbsp;&nbsp;&nbsp;KRBL Ltd. | 2296 | 6826 |
| &nbsp;&nbsp;&nbsp;L&T Finance Ltd. | 72832 | 185173 |
| &nbsp;&nbsp;&nbsp;Larsen & Toubro Ltd., GDR | 24321 | 903525 |
| &nbsp;&nbsp;&nbsp;LG Balakrishnan & Bros Ltd. | 1438 | 24894 |
| &nbsp;&nbsp;&nbsp;LIC Housing Finance Ltd. | 24147 | 126350 |
| &nbsp;&nbsp;&nbsp;LT Foods Ltd. | 12007 | 45712 |
| &nbsp;&nbsp;&nbsp;Lupin Ltd. | 4573 | 111470 |
| &nbsp;&nbsp;&nbsp;Maharashtra Seamless Ltd. | 3116 | 18430 |
| &nbsp;&nbsp;&nbsp;Mahindra & Mahindra Financial Services Ltd. | 52526 | 158549 |
| &nbsp;&nbsp;&nbsp;Mahindra & Mahindra Ltd. | 30033 | 938492 |
| &nbsp;&nbsp;&nbsp;Man Infraconstruction Ltd. | 4652 | 3919 |
| &nbsp;&nbsp;&nbsp;Manappuram Finance Ltd. | 42964 | 113832 |
| &nbsp;&nbsp;&nbsp;Maruti Suzuki India Ltd. | 3107 | 401278 |
| &nbsp;&nbsp;&nbsp;MAS Financial Services Ltd. ± | 3106 | 9267 |
| &nbsp;&nbsp;&nbsp;Mastek Ltd. | 960 | 13642 |
| &nbsp;&nbsp;&nbsp;MOIL Ltd. | 5661 | 16801 |
| &nbsp;&nbsp;&nbsp;Motilal Oswal Financial Services Ltd. | 5746 | 38402 |
| &nbsp;&nbsp;&nbsp;MRF Ltd. | 119 | 161596 |
| &nbsp;&nbsp;&nbsp;Muthoot Finance Ltd. | 1358 | 45673 |
| &nbsp;&nbsp;&nbsp;Natco Pharma Ltd. | 5577 | 57344 |
| &nbsp;&nbsp;&nbsp;National Aluminium Co. Ltd. | 52829 | 215524 |
| &nbsp;&nbsp;&nbsp;Nava Ltd. | 7969 | 44861 |
| &nbsp;&nbsp;&nbsp;NCC Ltd. | 36382 | 50218 |
| &nbsp;&nbsp;&nbsp;NESCO Ltd. | 965 | 10157 |
| &nbsp;&nbsp;&nbsp;NIIT Learning Systems Ltd. | 2427 | 6704 |
| &nbsp;&nbsp;&nbsp;NMDC Ltd. | 253182 | 203669 |
| &nbsp;&nbsp;&nbsp;NMDC Steel Ltd. \* | 47585 | 16701 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***India (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;NOCIL Ltd. | 7374 | $11895 |
| &nbsp;&nbsp;&nbsp;Nuvoco Vistas Corp. Ltd. \* | 2511 | 7389 |
| &nbsp;&nbsp;&nbsp;Oberoi Realty Ltd. | 4520 | 67327 |
| &nbsp;&nbsp;&nbsp;Onesource Specialty Pharma Ltd. \* | 754 | 11606 |
| &nbsp;&nbsp;&nbsp;Orient Cement Ltd. | 4032 | 5222 |
| &nbsp;&nbsp;&nbsp;Patel Engineering Ltd. \* | 56276 | 13201 |
| &nbsp;&nbsp;&nbsp;PCBL Chemical Ltd. | 11386 | 28967 |
| &nbsp;&nbsp;&nbsp;Petronet LNG Ltd. | 67706 | 177030 |
| &nbsp;&nbsp;&nbsp;Piramal Finance Ltd. \* | 4265 | 81501 |
| &nbsp;&nbsp;&nbsp;Piramal Pharma Ltd. | 29025 | 41832 |
| &nbsp;&nbsp;&nbsp;PNB Housing Finance Ltd. ± | 10969 | 87892 |
| &nbsp;&nbsp;&nbsp;PNC Infratech Ltd. | 7840 | 13307 |
| &nbsp;&nbsp;&nbsp;Polyplex Corp. Ltd. | 2048 | 16086 |
| &nbsp;&nbsp;&nbsp;Power Finance Corp. Ltd. | 121886 | 487679 |
| &nbsp;&nbsp;&nbsp;Power Mech Projects Ltd. | 484 | 8878 |
| &nbsp;&nbsp;&nbsp;Prestige Estates Projects Ltd. | 5562 | 66147 |
| &nbsp;&nbsp;&nbsp;PTC India Ltd. | 17788 | 29481 |
| &nbsp;&nbsp;&nbsp;Punjab National Bank | 135010 | 143481 |
| &nbsp;&nbsp;&nbsp;PVR Inox Ltd. \* | 4239 | 40804 |
| &nbsp;&nbsp;&nbsp;Ramco Cements Ltd. (The) | 5843 | 55751 |
| &nbsp;&nbsp;&nbsp;Rashtriya Chemicals & Fertilizers Ltd. | 16695 | 18737 |
| &nbsp;&nbsp;&nbsp;Raymond Lifestyle Ltd. \* | 2620 | 21049 |
| &nbsp;&nbsp;&nbsp;Raymond Ltd. \* | 3276 | 11123 |
| &nbsp;&nbsp;&nbsp;Raymond Realty Ltd. \* | 3276 | 12987 |
| &nbsp;&nbsp;&nbsp;RBL Bank Ltd. ± | 35444 | 108370 |
| &nbsp;&nbsp;&nbsp;REC Ltd. | 124810 | 401674 |
| &nbsp;&nbsp;&nbsp;Redington Ltd. | 57900 | 120838 |
| &nbsp;&nbsp;&nbsp;Reliance Industries Ltd. | 386323 | 5491683 |
| &nbsp;&nbsp;&nbsp;Reliance Power Ltd. \* | 164619 | 35354 |
| &nbsp;&nbsp;&nbsp;Repco Home Finance Ltd. | 1643 | 5976 |
| &nbsp;&nbsp;&nbsp;Rhi Magnesita India Ltd. | 2246 | 8160 |
| &nbsp;&nbsp;&nbsp;RITES Ltd. | 5510 | 10233 |
| &nbsp;&nbsp;&nbsp;Sammaan Capital Ltd. \* | 6273 | 9838 |
| &nbsp;&nbsp;&nbsp;Samvardhana Motherson International Ltd. | 189179 | 209625 |
| &nbsp;&nbsp;&nbsp;Sandur Manganese & Iron Ores Ltd. (The) | 5340 | 9637 |
| &nbsp;&nbsp;&nbsp;Sarda Energy & Minerals Ltd. | 2267 | 12190 |
| &nbsp;&nbsp;&nbsp;Shipping Corp. of India Land & Assets Ltd., Spin-off Shares | 14166 | 5247 |
| &nbsp;&nbsp;&nbsp;Shipping Corp. of India Ltd. | 14166 | 32992 |
| &nbsp;&nbsp;&nbsp;Shree Cement Ltd. | 9 | 2182 |
| &nbsp;&nbsp;&nbsp;Shriram Finance Ltd. | 48957 | 448697 |
| &nbsp;&nbsp;&nbsp;Shriram Pistons & Rings Ltd. | 500 | 15828 |
| &nbsp;&nbsp;&nbsp;Shyam Metalics & Energy Ltd. | 2791 | 22687 |
| &nbsp;&nbsp;&nbsp;Sobha Ltd. | 1677 | 20740 |
| &nbsp;&nbsp;&nbsp;South Indian Bank Ltd. (The) | 83493 | 30361 |
| &nbsp;&nbsp;&nbsp;Star Cement Ltd. | 7280 | 15616 |
| &nbsp;&nbsp;&nbsp;State Bank of India | 69305 | 716660 |
| &nbsp;&nbsp;&nbsp;State Bank of India, GDR | 8728 | 923422 |
| &nbsp;&nbsp;&nbsp;Steel Authority of India Ltd. | 89762 | 142883 |
| &nbsp;&nbsp;&nbsp;Strides Pharma Science Ltd. | 5470 | 53608 |
| &nbsp;&nbsp;&nbsp;Sun Pharmaceutical Industries Ltd. | 12139 | 225506 |
| &nbsp;&nbsp;&nbsp;Sun TV Network Ltd. | 7133 | 42528 |
| &nbsp;&nbsp;&nbsp;Sunteck Realty Ltd. | 5951 | 17066 |
| &nbsp;&nbsp;&nbsp;Tamilnad Mercantile Bank Ltd. | 4102 | 25084 |
| &nbsp;&nbsp;&nbsp;Tata Chemicals Ltd. | 12988 | 80223 |
| &nbsp;&nbsp;&nbsp;Tata Consumer Products Ltd. | 5391 | 57605 |
| &nbsp;&nbsp;&nbsp;Tata Motors Ltd. \* | 131488 | 546199 |
| &nbsp;&nbsp;&nbsp;Tata Motors Passenger Vehicles Ltd. | 131488 | 411729 |
| &nbsp;&nbsp;&nbsp;Tata Steel Ltd. | 430140 | 868862 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Tata Steel Ltd., GDR | 6923 | $145383 |
| &nbsp;&nbsp;&nbsp;Texmaco Rail & Engineering Ltd. | 11707 | 9738 |
| &nbsp;&nbsp;&nbsp;Time Technoplast Ltd. | 11270 | 18830 |
| &nbsp;&nbsp;&nbsp;Transport Corp. of India Ltd. | 1896 | 18490 |
| &nbsp;&nbsp;&nbsp;Triveni Engineering & Industries Ltd. | 4797 | 19016 |
| &nbsp;&nbsp;&nbsp;Tube Investments of India Ltd. | 320 | 8468 |
| &nbsp;&nbsp;&nbsp;Union Bank of India Ltd. | 81852 | 141519 |
| &nbsp;&nbsp;&nbsp;UPL Ltd. | 34451 | 206491 |
| &nbsp;&nbsp;&nbsp;Usha Martin Ltd. | 8223 | 33924 |
| &nbsp;&nbsp;&nbsp;VA Tech Wabag Ltd. | 2756 | 33703 |
| &nbsp;&nbsp;&nbsp;Vardhman Textiles Ltd. | 8165 | 44816 |
| &nbsp;&nbsp;&nbsp;Vedanta Ltd. | 7667 | 53233 |
| &nbsp;&nbsp;&nbsp;Voltamp Transformers Ltd. | 223 | 20389 |
| &nbsp;&nbsp;&nbsp;Welspun Corp. Ltd. | 7360 | 62850 |
| &nbsp;&nbsp;&nbsp;Welspun Enterprises Ltd. | 1530 | 6646 |
| &nbsp;&nbsp;&nbsp;Welspun Living Ltd. | 30266 | 34303 |
| &nbsp;&nbsp;&nbsp;Wipro Ltd. | 133330 | 262868 |
| &nbsp;&nbsp;&nbsp;Wipro Ltd., ADR | 29490 | 62519 |
| &nbsp;&nbsp;&nbsp;Wockhardt Ltd. \* | 2598 | 32176 |
| &nbsp;&nbsp;&nbsp;Yes Bank Ltd. \* | 581105 | 105868 |
| &nbsp;&nbsp;&nbsp;Zee Entertainment Enterprises Ltd. | 70032 | 53162 |
| &nbsp;&nbsp;&nbsp;Zensar Technologies Ltd. | 5610 | 30487 |
| &nbsp;&nbsp;&nbsp;Zydus Lifesciences Ltd. | 10313 | 95564 |
| &nbsp;&nbsp;&nbsp;Zydus Wellness Ltd. | 5525 | 24757 |
|  |  | 32019002 |
| ***Indonesia — 1.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alamtri Minerals Indonesia Tbk. PT | 382600 | 44689 |
| &nbsp;&nbsp;&nbsp;Alamtri Resources Indonesia Tbk. PT | 790300 | 119978 |
| &nbsp;&nbsp;&nbsp;Aneka Tambang Tbk. PT | 434200 | 89423 |
| &nbsp;&nbsp;&nbsp;Aspirasi Hidup Indonesia Tbk. PT | 625900 | 13922 |
| &nbsp;&nbsp;&nbsp;Astra Agro Lestari Tbk. PT | 28600 | 12706 |
| &nbsp;&nbsp;&nbsp;Astra International Tbk. PT | 1657900 | 609719 |
| &nbsp;&nbsp;&nbsp;Bank Mandiri Persero Tbk. PT | 594600 | 165142 |
| &nbsp;&nbsp;&nbsp;Bank Negara Indonesia Persero Tbk. PT | 1037332 | 229508 |
| &nbsp;&nbsp;&nbsp;Bank OCBC Nisp Tbk. PT | 223000 | 19224 |
| &nbsp;&nbsp;&nbsp;Bank Pan Indonesia Tbk. PT | 399700 | 22226 |
| &nbsp;&nbsp;&nbsp;Bank Tabungan Negara Persero Tbk. PT | 537509 | 39694 |
| &nbsp;&nbsp;&nbsp;BFI Finance Indonesia Tbk. PT | 108300 | 4525 |
| &nbsp;&nbsp;&nbsp;Bukalapak.com Tbk. PT \* | 3549800 | 29034 |
| &nbsp;&nbsp;&nbsp;Bukit Asam Persero Tbk. PT | 339600 | 63546 |
| &nbsp;&nbsp;&nbsp;Bumi Resources Minerals Tbk. PT \* | 520100 | 22341 |
| &nbsp;&nbsp;&nbsp;Bumi Resources Tbk. PT \* | 2671800 | 33959 |
| &nbsp;&nbsp;&nbsp;Bumi Serpong Damai Tbk. PT \* | 435700 | 18972 |
| &nbsp;&nbsp;&nbsp;Ciputra Development Tbk. PT | 924577 | 38627 |
| &nbsp;&nbsp;&nbsp;Dayamitra Telekomunikasi PT | 1395200 | 44743 |
| &nbsp;&nbsp;&nbsp;Dharma Satya Nusantara Tbk. PT | 140700 | 13992 |
| &nbsp;&nbsp;&nbsp;Elang Mahkota Teknologi Tbk. PT | 594000 | 26739 |
| &nbsp;&nbsp;&nbsp;Energi Mega Persada Tbk. PT \* | 951500 | 85383 |
| &nbsp;&nbsp;&nbsp;Erajaya Swasembada Tbk. PT | 1042500 | 23188 |
| &nbsp;&nbsp;&nbsp;ESSA Industries Indonesia Tbk. PT | 517700 | 21629 |
| &nbsp;&nbsp;&nbsp;Gudang Garam Tbk. PT | 52600 | 43641 |
| &nbsp;&nbsp;&nbsp;Hanson International Tbk. PT \*§ | 5335700 |  |
| &nbsp;&nbsp;&nbsp;Indah Kiat Pulp & Paper Tbk. PT | 218300 | 130380 |
| &nbsp;&nbsp;&nbsp;Indika Energy Tbk. PT | 195300 | 36429 |
| &nbsp;&nbsp;&nbsp;Indo Tambangraya Megah Tbk. PT | 37400 | 65416 |
| &nbsp;&nbsp;&nbsp;Indocement Tunggal Prakarsa Tbk. PT | 129800 | 38571 |
| &nbsp;&nbsp;&nbsp;Indofood Sukses Makmur Tbk. PT | 407500 | 152262 |
| &nbsp;&nbsp;&nbsp;Japfa Comfeed Indonesia Tbk. PT | 397600 | 54980 |
| &nbsp;&nbsp;&nbsp;Medco Energi Internasional Tbk. PT | 1095352 | 117627 |
| &nbsp;&nbsp;&nbsp;Merdeka Battery Materials Tbk. PT \* | 337300 | 14489 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Indonesia (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Metrodata Electronics Tbk. PT | 524800 | $17447 |
| &nbsp;&nbsp;&nbsp;Mitra Adiperkasa Tbk. PT | 620000 | 43961 |
| &nbsp;&nbsp;&nbsp;Pabrik Kertas Tjiwi Kimia Tbk. PT | 92300 | 48337 |
| &nbsp;&nbsp;&nbsp;Pakuwon Jati Tbk. PT | 1135800 | 22590 |
| &nbsp;&nbsp;&nbsp;Panin Financial Tbk. PT \* | 1207600 | 16628 |
| &nbsp;&nbsp;&nbsp;Perusahaan Perkebunan London Sumatra Indonesia Tbk. PT | 154500 | 13091 |
| &nbsp;&nbsp;&nbsp;Samudera Indonesia Tbk. PT | 979900 | 19950 |
| &nbsp;&nbsp;&nbsp;Sarana Menara Nusantara Tbk. PT | 1152200 | 33086 |
| &nbsp;&nbsp;&nbsp;Semen Indonesia Persero Tbk. PT | 315724 | 45702 |
| &nbsp;&nbsp;&nbsp;Sri Rejeki Isman Tbk. PT \*§ | 996900 |  |
| &nbsp;&nbsp;&nbsp;Sumber Tani Agung Resources Tbk. PT | 162900 | 12317 |
| &nbsp;&nbsp;&nbsp;Summarecon Agung Tbk. PT | 932100 | 18100 |
| &nbsp;&nbsp;&nbsp;Surya Citra Media Tbk. PT | 1066200 | 16312 |
| &nbsp;&nbsp;&nbsp;Surya Semesta Internusa Tbk. PT | 303100 | 23988 |
| &nbsp;&nbsp;&nbsp;Trimegah Bangun Persada Tbk. PT | 478700 | 30562 |
| &nbsp;&nbsp;&nbsp;Triputra Agro Persada PT | 285700 | 31941 |
| &nbsp;&nbsp;&nbsp;Ultrajaya Milk Industry & Trading Co. Tbk. PT | 131500 | 11761 |
| &nbsp;&nbsp;&nbsp;United Tractors Tbk. PT | 148200 | 270770 |
| &nbsp;&nbsp;&nbsp;Vale Indonesia Tbk. PT | 184400 | 58051 |
| &nbsp;&nbsp;&nbsp;XLSMART Telecom Sejahtera Tbk. PT | 202066 | 35076 |
|  |  | 3216374 |
| ***Korea — 16.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Amorepacific Corp. | 738 | 66108 |
| &nbsp;&nbsp;&nbsp;Amorepacific Holdings Corp. | 1044 | 18847 |
| &nbsp;&nbsp;&nbsp;BH Co. Ltd. | 1193 | 15617 |
| &nbsp;&nbsp;&nbsp;BNK Financial Group, Inc. | 15620 | 182445 |
| &nbsp;&nbsp;&nbsp;Cheil Worldwide, Inc. | 1499 | 18566 |
| &nbsp;&nbsp;&nbsp;CJ CheilJedang Corp. | 610 | 86224 |
| &nbsp;&nbsp;&nbsp;CJ Corp. | 1142 | 140919 |
| &nbsp;&nbsp;&nbsp;CJ ENM Co. Ltd. \* | 799 | 29474 |
| &nbsp;&nbsp;&nbsp;CJ Logistics Corp. | 649 | 43813 |
| &nbsp;&nbsp;&nbsp;Daesang Corp. | 2426 | 31520 |
| &nbsp;&nbsp;&nbsp;Daewoo Engineering & Construction Co. Ltd. \* | 18960 | 192490 |
| &nbsp;&nbsp;&nbsp;Daishin Securities Co. Ltd. | 697 | 16041 |
| &nbsp;&nbsp;&nbsp;Daou Technology, Inc. | 2149 | 60542 |
| &nbsp;&nbsp;&nbsp;DB HiTek Co. Ltd. | 1524 | 78108 |
| &nbsp;&nbsp;&nbsp;DB Insurance Co. Ltd. | 941 | 100634 |
| &nbsp;&nbsp;&nbsp;DL E&C Co. Ltd. | 1344 | 58616 |
| &nbsp;&nbsp;&nbsp;DL Holdings Co. Ltd. \* | 1071 | 42234 |
| &nbsp;&nbsp;&nbsp;DN Automotive Corp. | 314 | 7821 |
| &nbsp;&nbsp;&nbsp;Dong-A Socio Holdings Co. Ltd. | 303 | 18615 |
| &nbsp;&nbsp;&nbsp;Dongjin Semichem Co. Ltd. | 1047 | 30248 |
| &nbsp;&nbsp;&nbsp;Dongkuk Holdings Co. Ltd. | 1150 | 7283 |
| &nbsp;&nbsp;&nbsp;Dongkuk Steel Mill Co. Ltd. | 3583 | 20843 |
| &nbsp;&nbsp;&nbsp;Dongwon Industries Co. Ltd. | 1371 | 33925 |
| &nbsp;&nbsp;&nbsp;Doosan Bobcat, Inc. | 3756 | 139533 |
| &nbsp;&nbsp;&nbsp;DoubleUGames Co. Ltd. | 604 | 19599 |
| &nbsp;&nbsp;&nbsp;E-MART, Inc. | 1021 | 63794 |
| &nbsp;&nbsp;&nbsp;ENF Technology Co. Ltd. | 555 | 16922 |
| &nbsp;&nbsp;&nbsp;Green Cross Corp. | 119 | 11102 |
| &nbsp;&nbsp;&nbsp;GS Engineering & Construction Corp. | 2015 | 33021 |
| &nbsp;&nbsp;&nbsp;GS Holdings Corp. | 3044 | 126796 |
| &nbsp;&nbsp;&nbsp;GS P&L Co. Ltd. | 729 | 20085 |
| &nbsp;&nbsp;&nbsp;GS Retail Co. Ltd. | 3073 | 43939 |
| &nbsp;&nbsp;&nbsp;HAESUNG DS Co. Ltd. | 586 | 17886 |
| &nbsp;&nbsp;&nbsp;Hana Financial Group, Inc. | 16805 | 1169597 |
| &nbsp;&nbsp;&nbsp;Hanil Holdings Co. Ltd. | 1021 | 11172 |
| &nbsp;&nbsp;&nbsp;Hankook Tire & Technology Co. Ltd. | 5220 | 184378 |
| &nbsp;&nbsp;&nbsp;Hanon Systems \* | 14434 | 35245 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Hanwha Corp. | 1555 | $108733 |
| &nbsp;&nbsp;&nbsp;Hanwha Galleria Corp. \* | 4602 | 7166 |
| &nbsp;&nbsp;&nbsp;Hanwha Investment & Securities Co. Ltd. \* | 5680 | 23919 |
| &nbsp;&nbsp;&nbsp;Hanwha Life Insurance Co. Ltd. \* | 20246 | 58558 |
| &nbsp;&nbsp;&nbsp;Hanwha Solutions Corp. \* | 6070 | 147227 |
| &nbsp;&nbsp;&nbsp;Harim Holdings Co. Ltd. | 2243 | 19843 |
| &nbsp;&nbsp;&nbsp;HD Construction Equipment Co. Ltd. | 647 | 52845 |
| &nbsp;&nbsp;&nbsp;HD Hyundai Co. Ltd. | 1757 | 274164 |
| &nbsp;&nbsp;&nbsp;HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | 918 | 206178 |
| &nbsp;&nbsp;&nbsp;HDC Holdings Co. Ltd. | 2781 | 50385 |
| &nbsp;&nbsp;&nbsp;HDC Hyundai Development Co-Engineering & Construction | 2554 | 34100 |
| &nbsp;&nbsp;&nbsp;HK inno N Corp. | 967 | 30967 |
| &nbsp;&nbsp;&nbsp;HL Holdings Corp. | 389 | 10616 |
| &nbsp;&nbsp;&nbsp;HL Mando Co. Ltd. | 1823 | 58380 |
| &nbsp;&nbsp;&nbsp;HMM Co. Ltd. | 14834 | 189535 |
| &nbsp;&nbsp;&nbsp;Hotel Shilla Co. Ltd. \* | 317 | 9107 |
| &nbsp;&nbsp;&nbsp;HS Hyosung Advanced Materials Corp. | 80 | 11491 |
| &nbsp;&nbsp;&nbsp;Hy-Lok Corp. | 918 | 20947 |
| &nbsp;&nbsp;&nbsp;Hyosung Corp. | 537 | 45052 |
| &nbsp;&nbsp;&nbsp;Hyosung TNC Corp. | 121 | 29941 |
| &nbsp;&nbsp;&nbsp;Hyundai Department Store Co. Ltd. | 867 | 44832 |
| &nbsp;&nbsp;&nbsp;Hyundai Engineering & Construction Co. Ltd. | 3290 | 305232 |
| &nbsp;&nbsp;&nbsp;Hyundai Glovis Co. Ltd. | 1450 | 196438 |
| &nbsp;&nbsp;&nbsp;Hyundai Marine & Fire Insurance Co. Ltd. \* | 3214 | 63266 |
| &nbsp;&nbsp;&nbsp;Hyundai Mobis Co. Ltd. | 2365 | 583665 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor Co. | 6734 | 1958670 |
| &nbsp;&nbsp;&nbsp;Hyundai Steel Co. | 4416 | 97019 |
| &nbsp;&nbsp;&nbsp;Hyundai Wia Corp. \* | 941 | 47368 |
| &nbsp;&nbsp;&nbsp;iM Financial Group Co. Ltd. | 7519 | 82031 |
| &nbsp;&nbsp;&nbsp;Industrial Bank of Korea | 19140 | 266797 |
| &nbsp;&nbsp;&nbsp;Innocean Worldwide, Inc. | 1076 | 12652 |
| &nbsp;&nbsp;&nbsp;JB Financial Group Co. Ltd. | 5577 | 108143 |
| &nbsp;&nbsp;&nbsp;Kakao Corp. | 5799 | 173404 |
| &nbsp;&nbsp;&nbsp;Kangwon Land, Inc. | 2189 | 24139 |
| &nbsp;&nbsp;&nbsp;KB Financial Group, Inc., ADR | 16090 | 1604656 |
| &nbsp;&nbsp;&nbsp;KCC Corp. | 293 | 92205 |
| &nbsp;&nbsp;&nbsp;KEPCO Plant Service & Engineering Co. Ltd. | 484 | 17538 |
| &nbsp;&nbsp;&nbsp;KG Mobility Co. \* | 4088 | 8888 |
| &nbsp;&nbsp;&nbsp;Kia Corp. | 18947 | 1796170 |
| &nbsp;&nbsp;&nbsp;KIWOOM Securities Co. Ltd. | 158 | 42346 |
| &nbsp;&nbsp;&nbsp;Kolon Industries, Inc. | 1434 | 68346 |
| &nbsp;&nbsp;&nbsp;Korea Electric Terminal Co. Ltd. | 682 | 33752 |
| &nbsp;&nbsp;&nbsp;Korea Investment Holdings Co. Ltd. | 1347 | 178087 |
| &nbsp;&nbsp;&nbsp;Korea Line Corp. \* | 16631 | 26005 |
| &nbsp;&nbsp;&nbsp;Korea Zinc Co. Ltd. | 123 | 114195 |
| &nbsp;&nbsp;&nbsp;Korean Air Lines Co. Ltd. | 8699 | 133752 |
| &nbsp;&nbsp;&nbsp;Korean Reinsurance Co. | 12649 | 101083 |
| &nbsp;&nbsp;&nbsp;Krafton, Inc. | 424 | 70591 |
| &nbsp;&nbsp;&nbsp;KT&G Corp. | 2362 | 245507 |
| &nbsp;&nbsp;&nbsp;Kumho Petrochemical Co. Ltd. | 829 | 63813 |
| &nbsp;&nbsp;&nbsp;Kumho Tire Co., Inc. \* | 3713 | 14424 |
| &nbsp;&nbsp;&nbsp;LG Chem Ltd. | 2583 | 504239 |
| &nbsp;&nbsp;&nbsp;LG Corp. | 4087 | 220941 |
| &nbsp;&nbsp;&nbsp;LG Display Co. Ltd. \* | 16033 | 113576 |
| &nbsp;&nbsp;&nbsp;LG Display Co. Ltd., ADR \* | 8853 | 34350 |
| &nbsp;&nbsp;&nbsp;LG Electronics, Inc. | 7988 | 550735 |
| &nbsp;&nbsp;&nbsp;LG H&H Co. Ltd. | 398 | 64183 |
| &nbsp;&nbsp;&nbsp;LG Innotek Co. Ltd. | 903 | 173036 |
| &nbsp;&nbsp;&nbsp;LG Uplus Corp. | 13733 | 139244 |
| &nbsp;&nbsp;&nbsp;Lotte Chilsung Beverage Co. Ltd. | 290 | 21585 |
| &nbsp;&nbsp;&nbsp;Lotte Corp. | 1582 | 28197 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Korea (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;LOTTE Fine Chemical Co. Ltd. | 1517 | $48383 |
| &nbsp;&nbsp;&nbsp;Lotte Shopping Co. Ltd. | 641 | 45282 |
| &nbsp;&nbsp;&nbsp;Lotte Wellfood Co. Ltd. | 167 | 12114 |
| &nbsp;&nbsp;&nbsp;LS Corp. | 730 | 122012 |
| &nbsp;&nbsp;&nbsp;LX Holdings Corp. | 2593 | 13374 |
| &nbsp;&nbsp;&nbsp;LX International Corp. | 2607 | 77019 |
| &nbsp;&nbsp;&nbsp;LX Semicon Co. Ltd. | 567 | 17917 |
| &nbsp;&nbsp;&nbsp;Mirae Asset Life Insurance Co. Ltd. \* | 5257 | 55362 |
| &nbsp;&nbsp;&nbsp;Mirae Asset Securities Co. Ltd. | 4500 | 180981 |
| &nbsp;&nbsp;&nbsp;Misto Holdings Corp. | 576 | 15419 |
| &nbsp;&nbsp;&nbsp;NAVER Corp. | 3244 | 426772 |
| &nbsp;&nbsp;&nbsp;NCSoft Corp. | 224 | 32759 |
| &nbsp;&nbsp;&nbsp;Netmarble Corp. ± | 1270 | 40795 |
| &nbsp;&nbsp;&nbsp;NH Investment & Securities Co. Ltd. | 5453 | 105382 |
| &nbsp;&nbsp;&nbsp;NICE Holdings Co. Ltd. | 2345 | 19965 |
| &nbsp;&nbsp;&nbsp;NongShim Co. Ltd. | 135 | 32347 |
| &nbsp;&nbsp;&nbsp;OCI Co. Ltd. | 450 | 27617 |
| &nbsp;&nbsp;&nbsp;OCI Holdings Co. Ltd. | 700 | 85829 |
| &nbsp;&nbsp;&nbsp;Orion Corp. | 1129 | 94351 |
| &nbsp;&nbsp;&nbsp;Orion Holdings Corp. | 2572 | 38622 |
| &nbsp;&nbsp;&nbsp;Otoki Corp. | 131 | 30748 |
| &nbsp;&nbsp;&nbsp;Pan Ocean Co. Ltd. | 22750 | 72707 |
| &nbsp;&nbsp;&nbsp;Paradise Co. Ltd. | 1846 | 19404 |
| &nbsp;&nbsp;&nbsp;Partron Co. Ltd. | 1897 | 9438 |
| &nbsp;&nbsp;&nbsp;Poongsan Corp. | 575 | 32548 |
| &nbsp;&nbsp;&nbsp;POSCO Holdings, Inc. | 854 | 185392 |
| &nbsp;&nbsp;&nbsp;POSCO Holdings, Inc., ADR | 9207 | 538517 |
| &nbsp;&nbsp;&nbsp;S-Oil Corp. \* | 2562 | 176136 |
| &nbsp;&nbsp;&nbsp;Samsung C&T Corp. | 3438 | 569016 |
| &nbsp;&nbsp;&nbsp;Samsung Card Co. Ltd. | 2083 | 72214 |
| &nbsp;&nbsp;&nbsp;Samsung E&A Co. Ltd. | 3314 | 77243 |
| &nbsp;&nbsp;&nbsp;Samsung Electro-Mechanics Co. Ltd. | 443 | 117861 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co. Ltd. | 17972 | 1961883 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co. Ltd., GDR | 3499 | 9923164 |
| &nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co. Ltd. | 280 | 80528 |
| &nbsp;&nbsp;&nbsp;Samsung Life Insurance Co. Ltd. | 1326 | 182237 |
| &nbsp;&nbsp;&nbsp;Samsung SDI Co. Ltd. \* | 2650 | 705905 |
| &nbsp;&nbsp;&nbsp;Samsung SDS Co. Ltd. | 1357 | 132984 |
| &nbsp;&nbsp;&nbsp;Samsung Securities Co. Ltd. | 2235 | 134831 |
| &nbsp;&nbsp;&nbsp;SeAH Steel Holdings Corp. | 136 | 16924 |
| &nbsp;&nbsp;&nbsp;Sebang Global Battery Co. Ltd. | 697 | 27076 |
| &nbsp;&nbsp;&nbsp;Seegene, Inc. | 1002 | 14294 |
| &nbsp;&nbsp;&nbsp;SGC Energy Co. Ltd. | 395 | 14855 |
| &nbsp;&nbsp;&nbsp;Shinhan Financial Group Co. Ltd. | 17905 | 1025214 |
| &nbsp;&nbsp;&nbsp;Shinhan Financial Group Co. Ltd., ADR | 914 | 56046 |
| &nbsp;&nbsp;&nbsp;Shinsegae, Inc. | 629 | 123406 |
| &nbsp;&nbsp;&nbsp;SK Chemicals Co. Ltd. | 314 | 10783 |
| &nbsp;&nbsp;&nbsp;SK Discovery Co. Ltd. | 867 | 28869 |
| &nbsp;&nbsp;&nbsp;SK Gas Ltd. | 175 | 30735 |
| &nbsp;&nbsp;&nbsp;SK Innovation Co. Ltd. | 2567 | 182178 |
| &nbsp;&nbsp;&nbsp;SK Networks Co. Ltd. | 12838 | 41239 |
| &nbsp;&nbsp;&nbsp;SK, Inc. | 1745 | 342928 |
| &nbsp;&nbsp;&nbsp;SL Corp. | 1820 | 65830 |
| &nbsp;&nbsp;&nbsp;SNT Motiv Co. Ltd. | 1079 | 22543 |
| &nbsp;&nbsp;&nbsp;Sungwoo Hitech Co. Ltd. | 3959 | 21712 |
| &nbsp;&nbsp;&nbsp;Unid Co. Ltd. | 167 | 8766 |
| &nbsp;&nbsp;&nbsp;Woori Financial Group, Inc. | 45228 | 946403 |
| &nbsp;&nbsp;&nbsp;Youngone Corp. | 1446 | 74110 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Youngone Holdings Co. Ltd. | 397 | $56764 |
|  |  | 34633989 |
| ***Kuwait — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Agility Global PLC | 243775 | 91582 |
| ***Malaysia — 1.5%*** |  |  |
| &nbsp;&nbsp;&nbsp;Aeon Co. M Bhd. | 29400 | 7769 |
| &nbsp;&nbsp;&nbsp;AEON Credit Service M Bhd. | 8100 | 10823 |
| &nbsp;&nbsp;&nbsp;AFFIN Bank Bhd. | 47901 | 29221 |
| &nbsp;&nbsp;&nbsp;Alliance Bank Malaysia Bhd. | 81811 | 97389 |
| &nbsp;&nbsp;&nbsp;AMMB Holdings Bhd. | 191687 | 311983 |
| &nbsp;&nbsp;&nbsp;Axiata Group Bhd. | 226300 | 123518 |
| &nbsp;&nbsp;&nbsp;Bank Islam Malaysia Bhd. | 68600 | 40662 |
| &nbsp;&nbsp;&nbsp;Batu Kawan Bhd. | 16500 | 86799 |
| &nbsp;&nbsp;&nbsp;Berjaya Corp. Bhd. \* | 166400 | 10685 |
| &nbsp;&nbsp;&nbsp;Bumi Armada Bhd. | 264700 | 22554 |
| &nbsp;&nbsp;&nbsp;CIMB Group Holdings Bhd. | 131573 | 245339 |
| &nbsp;&nbsp;&nbsp;Dayang Enterprise Holdings Bhd. | 27900 | 13092 |
| &nbsp;&nbsp;&nbsp;Dialog Group Bhd. | 37200 | 20120 |
| &nbsp;&nbsp;&nbsp;Eco World Development Group Bhd. | 67900 | 34042 |
| &nbsp;&nbsp;&nbsp;Genting Bhd. | 152000 | 83714 |
| &nbsp;&nbsp;&nbsp;Genting Malaysia Bhd. | 258200 | 113508 |
| &nbsp;&nbsp;&nbsp;Genting Plantations Bhd. | 23600 | 30600 |
| &nbsp;&nbsp;&nbsp;HAP Seng Consolidated Bhd. | 14800 | 9869 |
| &nbsp;&nbsp;&nbsp;Hartalega Holdings Bhd. \* | 69700 | 19796 |
| &nbsp;&nbsp;&nbsp;Hibiscus Petroleum Bhd. | 56080 | 31302 |
| &nbsp;&nbsp;&nbsp;Hong Leong Bank Bhd. | 11500 | 62201 |
| &nbsp;&nbsp;&nbsp;Hong Leong Financial Group Bhd. | 17621 | 82513 |
| &nbsp;&nbsp;&nbsp;IJM Corp. Bhd. | 181760 | 98309 |
| &nbsp;&nbsp;&nbsp;IOI Properties Group Bhd. | 75850 | 62194 |
| &nbsp;&nbsp;&nbsp;Kossan Rubber Industries Bhd. | 73800 | 21872 |
| &nbsp;&nbsp;&nbsp;Kuala Lumpur Kepong Bhd. | 2100 | 11151 |
| &nbsp;&nbsp;&nbsp;Magnum Bhd. | 86961 | 26417 |
| &nbsp;&nbsp;&nbsp;Mah Sing Group Bhd. | 125685 | 31041 |
| &nbsp;&nbsp;&nbsp;Malayan Cement Bhd. | 14900 | 22263 |
| &nbsp;&nbsp;&nbsp;Malaysian Resources Corp. Bhd. | 142600 | 9333 |
| &nbsp;&nbsp;&nbsp;Matrix Concepts Holdings Bhd. | 96300 | 30205 |
| &nbsp;&nbsp;&nbsp;MBM Resources Bhd. | 12500 | 14818 |
| &nbsp;&nbsp;&nbsp;MBSB Bhd. | 205001 | 32909 |
| &nbsp;&nbsp;&nbsp;Mega First Corp. Bhd. | 37600 | 26559 |
| &nbsp;&nbsp;&nbsp;MISC Bhd. | 94320 | 196607 |
| &nbsp;&nbsp;&nbsp;MKH Bhd. | 36950 | 8396 |
| &nbsp;&nbsp;&nbsp;MKH Oil Palm East Kalimantan Bhd. | 5278 | 789 |
| &nbsp;&nbsp;&nbsp;Oriental Holdings Bhd. | 25760 | 45489 |
| &nbsp;&nbsp;&nbsp;OSK Holdings Bhd. | 111682 | 43581 |
| &nbsp;&nbsp;&nbsp;Petronas Chemicals Group Bhd. | 133400 | 199985 |
| &nbsp;&nbsp;&nbsp;PPB Group Bhd. | 37500 | 111139 |
| &nbsp;&nbsp;&nbsp;RHB Bank Bhd. | 145390 | 303060 |
| &nbsp;&nbsp;&nbsp;Sarawak Oil Palms Bhd. | 30750 | 35694 |
| &nbsp;&nbsp;&nbsp;Scientex Bhd. | 27300 | 22857 |
| &nbsp;&nbsp;&nbsp;Sime Darby Bhd. | 263700 | 147187 |
| &nbsp;&nbsp;&nbsp;Sime Darby Property Bhd. | 246600 | 76130 |
| &nbsp;&nbsp;&nbsp;SP Setia Bhd. Group | 143480 | 30652 |
| &nbsp;&nbsp;&nbsp;Ta Ann Holdings Bhd. | 12260 | 16442 |
| &nbsp;&nbsp;&nbsp;Top Glove Corp. Bhd. | 291800 | 49726 |
| &nbsp;&nbsp;&nbsp;TSH Resources Bhd. \* | 43000 | 14762 |
| &nbsp;&nbsp;&nbsp;UOA Development Bhd. | 20387 | 9063 |
| &nbsp;&nbsp;&nbsp;WCT Holdings Bhd. \* | 52300 | 4650 |
| &nbsp;&nbsp;&nbsp;Yinson Holdings Bhd. | 54899 | 30507 |
| &nbsp;&nbsp;&nbsp;YTL Corp. Bhd. | 81160 | 33875 |
|  |  | 3255161 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Mexico — 1.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alpek SAB de CV \* | 68614 | $43451 |
| &nbsp;&nbsp;&nbsp;Banco del Bajio SA ± | 42751 | 132120 |
| &nbsp;&nbsp;&nbsp;Cemex SAB de CV | 685631 | 784977 |
| &nbsp;&nbsp;&nbsp;Cemex SAB de CV, ADR | 12231 | 139923 |
| &nbsp;&nbsp;&nbsp;Controladora AXTEL SAB DE CV \* | 260453 | 11582 |
| &nbsp;&nbsp;&nbsp;Corp. Actinver SAB de CV | 15700 | 19096 |
| &nbsp;&nbsp;&nbsp;El Puerto de Liverpool SAB de CV, Class C1 | 7251 | 43491 |
| &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano SAB de CV | 13622 | 150972 |
| &nbsp;&nbsp;&nbsp;Genomma Lab Internacional SAB de CV, Class B | 42530 | 43092 |
| &nbsp;&nbsp;&nbsp;Grupo Bimbo SAB de CV, Series A | 49270 | 165021 |
| &nbsp;&nbsp;&nbsp;Grupo Carso SAB de CV, Series A1 | 10719 | 80487 |
| &nbsp;&nbsp;&nbsp;Grupo Comercial Chedraui SA de CV | 6957 | 40722 |
| &nbsp;&nbsp;&nbsp;Grupo Financiero Banorte SAB de CV, Class O | 75782 | 839128 |
| &nbsp;&nbsp;&nbsp;Grupo Financiero Inbursa SAB de CV, Class O | 74270 | 187177 |
| &nbsp;&nbsp;&nbsp;Grupo Traxion SAB de CV \*± | 22512 | 16881 |
| &nbsp;&nbsp;&nbsp;Industrias CH SAB de CV, Series B \* | 23916 | 228071 |
| &nbsp;&nbsp;&nbsp;La Comer SAB de CV | 19443 | 46039 |
| &nbsp;&nbsp;&nbsp;Megacable Holdings SAB de CV | 59163 | 204857 |
| &nbsp;&nbsp;&nbsp;Nemak SAB de CV \*± | 220070 | 42975 |
| &nbsp;&nbsp;&nbsp;Operadora De Sites Mexicanos SAB de CV, Class A-1 | 39941 | 38263 |
| &nbsp;&nbsp;&nbsp;Orbia Advance Corp. SAB de CV \* | 51451 | 62064 |
| &nbsp;&nbsp;&nbsp;Organizacion Soriana SAB de CV, Class B | 44134 | 88130 |
| &nbsp;&nbsp;&nbsp;Promotora y Operadora de Infraestructura SAB de CV | 9454 | 153175 |
| &nbsp;&nbsp;&nbsp;Promotora y Operadora de Infraestructura SAB de CV, Class L | 1600 | 18122 |
| &nbsp;&nbsp;&nbsp;Regional SAB de CV | 18632 | 159894 |
| &nbsp;&nbsp;&nbsp;Sigma Foods SAB de CV | 221384 | 221471 |
|  |  | 3961181 |
| ***Philippines — 0.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alliance Global Group, Inc. | 253300 | 37443 |
| &nbsp;&nbsp;&nbsp;Ayala Corp. | 12590 | 104347 |
| &nbsp;&nbsp;&nbsp;Ayala Land, Inc. | 354500 | 94183 |
| &nbsp;&nbsp;&nbsp;China Banking Corp. | 60526 | 63764 |
| &nbsp;&nbsp;&nbsp;DMCI Holdings, Inc. | 157300 | 25841 |
| &nbsp;&nbsp;&nbsp;First Philippine Holdings Corp. | 26510 | 31899 |
| &nbsp;&nbsp;&nbsp;GT Capital Holdings, Inc. | 7512 | 64300 |
| &nbsp;&nbsp;&nbsp;JG Summit Holdings, Inc. | 181683 | 82543 |
| &nbsp;&nbsp;&nbsp;LT Group, Inc. | 132300 | 31926 |
| &nbsp;&nbsp;&nbsp;Megaworld Corp. | 1004700 | 34731 |
| &nbsp;&nbsp;&nbsp;Metropolitan Bank & Trust Co. | 133237 | 139268 |
| &nbsp;&nbsp;&nbsp;Puregold Price Club, Inc. | 46600 | 31450 |
| &nbsp;&nbsp;&nbsp;Rizal Commercial Banking Corp. | 47790 | 18487 |
| &nbsp;&nbsp;&nbsp;Robinsons Land Corp. | 76255 | 21841 |
| &nbsp;&nbsp;&nbsp;San Miguel Corp. | 41650 | 49226 |
| &nbsp;&nbsp;&nbsp;Security Bank Corp. | 30510 | 32745 |
| &nbsp;&nbsp;&nbsp;Top Frontier Investment Holdings, Inc. \* | 4630 | 4039 |
| &nbsp;&nbsp;&nbsp;Union Bank of the Philippines | 66330 | 26095 |
|  |  | 894128 |
| ***Poland — 1.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;AB SA | 845 | 27452 |
| &nbsp;&nbsp;&nbsp;Alior Bank SA | 6859 | 204447 |
| &nbsp;&nbsp;&nbsp;Asseco Poland SA | 1190 | 54304 |
| &nbsp;&nbsp;&nbsp;Bank Handlowy w Warszawie SA | 1630 | 48476 |
| &nbsp;&nbsp;&nbsp;Bank Polska Kasa Opieki SA | 715 | 41892 |
| &nbsp;&nbsp;&nbsp;BNPP Bank Polska SA | 811 | 31678 |
| &nbsp;&nbsp;&nbsp;Echo Investment SA | 1732 | 2454 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Enea SA | 30606 | $202820 |
| &nbsp;&nbsp;&nbsp;Inter Cars SA | 369 | 66003 |
| &nbsp;&nbsp;&nbsp;KGHM Polska Miedz SA \* | 5853 | 422396 |
| &nbsp;&nbsp;&nbsp;Mirbud SA | 5445 | 16340 |
| &nbsp;&nbsp;&nbsp;ORLEN SA | 38019 | 1375861 |
| &nbsp;&nbsp;&nbsp;PGE Polska Grupa Energetyczna SA \* | 74035 | 210007 |
| &nbsp;&nbsp;&nbsp;Tauron Polska Energia SA \* | 125505 | 347047 |
|  |  | 3051177 |
| ***Russia — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Gazprom PJSC, ADR \*§ | 162760 |  |
| &nbsp;&nbsp;&nbsp;Lukoil PJSC, ADR \*§ | 15271 |  |
| &nbsp;&nbsp;&nbsp;RusHydro PJSC, ADR \*§ | 61905 |  |
| &nbsp;&nbsp;&nbsp;VTB Bank PJSC, GDR \*§ | 92145 |  |
| ***Singapore — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;China XLX Fertiliser Ltd. | 44000 | 61220 |
| ***South Africa — 3.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;Absa Group Ltd. | 55314 | 788428 |
| &nbsp;&nbsp;&nbsp;AECI Ltd. | 8481 | 57283 |
| &nbsp;&nbsp;&nbsp;African Rainbow Minerals Ltd. | 5623 | 76722 |
| &nbsp;&nbsp;&nbsp;Altron Ltd., Class A | 18636 | 21895 |
| &nbsp;&nbsp;&nbsp;Aspen Pharmacare Holdings Ltd. | 13064 | 101447 |
| &nbsp;&nbsp;&nbsp;Astral Foods Ltd. | 2628 | 39597 |
| &nbsp;&nbsp;&nbsp;Bidvest Group Ltd. @ | 10207 | 137260 |
| &nbsp;&nbsp;&nbsp;Blu Label Unlimited Group Ltd. | 20177 | 9945 |
| &nbsp;&nbsp;&nbsp;DataTec Ltd. | 25785 | 106729 |
| &nbsp;&nbsp;&nbsp;Exxaro Resources Ltd. | 16672 | 221311 |
| &nbsp;&nbsp;&nbsp;Foschini Group Ltd. (The) @ | 27805 | 115961 |
| &nbsp;&nbsp;&nbsp;Grindrod Ltd. | 40655 | 45049 |
| &nbsp;&nbsp;&nbsp;Impala Platinum Holdings Ltd. @ | 25645 | 362110 |
| &nbsp;&nbsp;&nbsp;Investec Ltd. | 8961 | 67552 |
| &nbsp;&nbsp;&nbsp;KAP Ltd. \* | 82431 | 9938 |
| &nbsp;&nbsp;&nbsp;Kumba Iron Ore Ltd. | 3174 | 59894 |
| &nbsp;&nbsp;&nbsp;Lewis Group Ltd. | 3337 | 15579 |
| &nbsp;&nbsp;&nbsp;Life Healthcare Group Holdings Ltd. | 73116 | 49907 |
| &nbsp;&nbsp;&nbsp;Momentum Group Ltd. | 81624 | 173414 |
| &nbsp;&nbsp;&nbsp;Motus Holdings Ltd. | 16747 | 114796 |
| &nbsp;&nbsp;&nbsp;MTN Group Ltd. | 81206 | 937975 |
| &nbsp;&nbsp;&nbsp;Naspers Ltd., Class N | 19458 | 991181 |
| &nbsp;&nbsp;&nbsp;Nedbank Group Ltd. | 25556 | 402885 |
| &nbsp;&nbsp;&nbsp;Netcare Ltd. | 99919 | 97550 |
| &nbsp;&nbsp;&nbsp;Northam Platinum Holdings Ltd. | 4836 | 97204 |
| &nbsp;&nbsp;&nbsp;Oceana Group Ltd. | 10541 | 33016 |
| &nbsp;&nbsp;&nbsp;Old Mutual Ltd. | 382492 | 311938 |
| &nbsp;&nbsp;&nbsp;Omnia Holdings Ltd. | 16030 | 90470 |
| &nbsp;&nbsp;&nbsp;Pepkor Holdings Ltd. ± | 170124 | 227217 |
| &nbsp;&nbsp;&nbsp;Pick n Pay Stores Ltd. \*@ | 32290 | 36448 |
| &nbsp;&nbsp;&nbsp;PPC Ltd. | 93872 | 32953 |
| &nbsp;&nbsp;&nbsp;Raubex Group Ltd. | 16897 | 48640 |
| &nbsp;&nbsp;&nbsp;Reunert Ltd. | 12692 | 48874 |
| &nbsp;&nbsp;&nbsp;Sanlam Ltd. | 21829 | 114787 |
| &nbsp;&nbsp;&nbsp;Sappi Ltd. \*@ | 59313 | 59133 |
| &nbsp;&nbsp;&nbsp;Sasol Ltd. \* | 35005 | 466223 |
| &nbsp;&nbsp;&nbsp;Sibanye Stillwater Ltd. | 17852 | 53847 |
| &nbsp;&nbsp;&nbsp;Southern Sun Ltd. | 54046 | 32579 |
| &nbsp;&nbsp;&nbsp;Standard Bank Group Ltd. | 62830 | 1130448 |
| &nbsp;&nbsp;&nbsp;Super Group Ltd. | 29786 | 29995 |
| &nbsp;&nbsp;&nbsp;Telkom SA SOC Ltd. | 28405 | 98705 |
| &nbsp;&nbsp;&nbsp;Thungela Resources Ltd. | 6203 | 61468 |
| &nbsp;&nbsp;&nbsp;Valterra Platinum Ltd. | 660 | 54645 |
| &nbsp;&nbsp;&nbsp;Zeda Ltd. | 20449 | 16073 |
|  |  | 8049071 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Taiwan — 22.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;91APP, Inc. | 8000 | $14889 |
| &nbsp;&nbsp;&nbsp;AcBel Polytech, Inc. | 51000 | 72743 |
| &nbsp;&nbsp;&nbsp;Acer, Inc. | 165884 | 141393 |
| &nbsp;&nbsp;&nbsp;Acter Group Corp. Ltd. | 1000 | 21520 |
| &nbsp;&nbsp;&nbsp;Actron Technology Corp. | 3000 | 11167 |
| &nbsp;&nbsp;&nbsp;ADATA Technology Co. Ltd. | 20450 | 214287 |
| &nbsp;&nbsp;&nbsp;Advanced International Multitech Co. Ltd. | 8000 | 15540 |
| &nbsp;&nbsp;&nbsp;Advanced Power Electronics Corp. | 1000 | 3022 |
| &nbsp;&nbsp;&nbsp;Advanced Wireless Semiconductor Co. | 8000 | 29528 |
| &nbsp;&nbsp;&nbsp;Advancetek Enterprise Co. Ltd. | 13000 | 10613 |
| &nbsp;&nbsp;&nbsp;Allied Supreme Corp. \* | 3000 | 20316 |
| &nbsp;&nbsp;&nbsp;Alltek Technology Corp. | 10000 | 12965 |
| &nbsp;&nbsp;&nbsp;Alltop Technology Co. Ltd. | 3000 | 25336 |
| &nbsp;&nbsp;&nbsp;Alpha Networks, Inc. | 11000 | 12060 |
| &nbsp;&nbsp;&nbsp;Altek Corp. | 14014 | 15386 |
| &nbsp;&nbsp;&nbsp;Ambassador Hotel (The) | 14000 | 18370 |
| &nbsp;&nbsp;&nbsp;AMPOC Far-East Co. Ltd. | 8864 | 29251 |
| &nbsp;&nbsp;&nbsp;AmTRAN Technology Co. Ltd. | 58106 | 56797 |
| &nbsp;&nbsp;&nbsp;Apex International Co. Ltd. \* | 20286 | 25476 |
| &nbsp;&nbsp;&nbsp;Arcadyan Technology Corp. | 11000 | 52299 |
| &nbsp;&nbsp;&nbsp;Ardentec Corp. | 39092 | 190141 |
| &nbsp;&nbsp;&nbsp;Argosy Research, Inc. | 3000 | 14216 |
| &nbsp;&nbsp;&nbsp;ASE Technology Holding Co. Ltd. | 233000 | 2394135 |
| &nbsp;&nbsp;&nbsp;Asia Cement Corp. | 134269 | 145735 |
| &nbsp;&nbsp;&nbsp;Asia Optical Co., Inc. | 11000 | 41633 |
| &nbsp;&nbsp;&nbsp;ASMedia Technology, Inc. | 1000 | 33312 |
| &nbsp;&nbsp;&nbsp;ASROCK, Inc. | 2000 | 12637 |
| &nbsp;&nbsp;&nbsp;Asustek Computer, Inc. | 36000 | 618205 |
| &nbsp;&nbsp;&nbsp;AUO Corp. | 396400 | 179787 |
| &nbsp;&nbsp;&nbsp;Axiomtek Co. Ltd. | 8000 | 20094 |
| &nbsp;&nbsp;&nbsp;Bank of Kaohsiung Co. Ltd. | 66544 | 25081 |
| &nbsp;&nbsp;&nbsp;BES Engineering Corp. \* | 95577 | 39463 |
| &nbsp;&nbsp;&nbsp;Bioteque Corp. | 3000 | 10932 |
| &nbsp;&nbsp;&nbsp;Bizlink Holding, Inc. | 2108 | 114730 |
| &nbsp;&nbsp;&nbsp;Bora Pharmaceuticals Co. Ltd. | 2000 | 27463 |
| &nbsp;&nbsp;&nbsp;Brighton-Best International Taiwan, Inc. | 17000 | 18000 |
| &nbsp;&nbsp;&nbsp;Capital Securities Corp. | 152437 | 130647 |
| &nbsp;&nbsp;&nbsp;Catcher Technology Co. Ltd. | 26000 | 152893 |
| &nbsp;&nbsp;&nbsp;Cathay Financial Holding Co. Ltd. | 471170 | 1036073 |
| &nbsp;&nbsp;&nbsp;Cathay Real Estate Development Co. Ltd. | 41000 | 28983 |
| &nbsp;&nbsp;&nbsp;Cenra, Inc. | 9500 | 9717 |
| &nbsp;&nbsp;&nbsp;Center Laboratories, Inc. | 12608 | 15972 |
| &nbsp;&nbsp;&nbsp;Century Iron & Steel Industrial Co. Ltd. | 6000 | 21020 |
| &nbsp;&nbsp;&nbsp;Chailease Holding Co. Ltd. | 105603 | 361699 |
| &nbsp;&nbsp;&nbsp;Chang Hwa Commercial Bank Ltd. | 332606 | 212235 |
| &nbsp;&nbsp;&nbsp;Chang Wah Electromaterials, Inc. | 20000 | 26619 |
| &nbsp;&nbsp;&nbsp;Chang Wah Technology Co. Ltd. | 11000 | 16068 |
| &nbsp;&nbsp;&nbsp;Channel Well Technology Co. Ltd. | 13000 | 22609 |
| &nbsp;&nbsp;&nbsp;Charoen Pokphand Enterprise | 12000 | 50673 |
| &nbsp;&nbsp;&nbsp;CHC Healthcare Group | 7000 | 6602 |
| &nbsp;&nbsp;&nbsp;Cheng Loong Corp. | 82000 | 49759 |
| &nbsp;&nbsp;&nbsp;Cheng Shin Rubber Industry Co. Ltd. | 131000 | 127435 |
| &nbsp;&nbsp;&nbsp;Chia Hsin Cement Corp. | 22440 | 9476 |
| &nbsp;&nbsp;&nbsp;Chicony Electronics Co. Ltd. | 30000 | 112136 |
| &nbsp;&nbsp;&nbsp;Chicony Power Technology Co. Ltd. | 6000 | 13569 |
| &nbsp;&nbsp;&nbsp;Chin-Poon Industrial Co. Ltd. | 36000 | 57429 |
| &nbsp;&nbsp;&nbsp;China Airlines Ltd. | 278111 | 155714 |
| &nbsp;&nbsp;&nbsp;China Bills Finance Corp. | 89000 | 46769 |
| &nbsp;&nbsp;&nbsp;China Man-Made Fiber Corp. \* | 72018 | 16827 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;China Metal Products | 31000 | $20848 |
| &nbsp;&nbsp;&nbsp;China Motor Corp. | 22478 | 38952 |
| &nbsp;&nbsp;&nbsp;China Steel Chemical Corp. | 8000 | 22021 |
| &nbsp;&nbsp;&nbsp;China Steel Corp. | 536800 | 317345 |
| &nbsp;&nbsp;&nbsp;Chipbond Technology Corp. | 42000 | 91304 |
| &nbsp;&nbsp;&nbsp;ChipMOS Technologies, Inc. | 28897 | 48448 |
| &nbsp;&nbsp;&nbsp;ChipMOS Technologies, Inc., ADR | 328 | 11736 |
| &nbsp;&nbsp;&nbsp;Chong Hong Construction Co. Ltd. | 12774 | 31166 |
| &nbsp;&nbsp;&nbsp;Chun Yuan Steel Industry Co. Ltd. | 30000 | 23225 |
| &nbsp;&nbsp;&nbsp;Chung-Hsin Electric & Machinery Manufacturing Corp. | 20000 | 89459 |
| &nbsp;&nbsp;&nbsp;Cleanaway Co. Ltd. | 60000 | 55177 |
| &nbsp;&nbsp;&nbsp;Clevo Co. | 28000 | 32668 |
| &nbsp;&nbsp;&nbsp;CMC Magnetics Corp. | 31979 | 10653 |
| &nbsp;&nbsp;&nbsp;Co-Tech Development Corp. | 3000 | 22193 |
| &nbsp;&nbsp;&nbsp;Compal Electronics, Inc. | 288000 | 242778 |
| &nbsp;&nbsp;&nbsp;Compeq Manufacturing Co. Ltd. | 96000 | 744698 |
| &nbsp;&nbsp;&nbsp;Concord Securities Co. Ltd. | 42735 | 21855 |
| &nbsp;&nbsp;&nbsp;Continental Holdings Corp. | 42000 | 29033 |
| &nbsp;&nbsp;&nbsp;Coretronic Corp. | 15800 | 36176 |
| &nbsp;&nbsp;&nbsp;CTBC Financial Holding Co. Ltd. | 518280 | 831647 |
| &nbsp;&nbsp;&nbsp;CTCI Corp. | 36306 | 40258 |
| &nbsp;&nbsp;&nbsp;CyberPower Systems, Inc. | 2000 | 10510 |
| &nbsp;&nbsp;&nbsp;D-Link Corp. | 15640 | 7240 |
| &nbsp;&nbsp;&nbsp;DA CIN Construction Co. Ltd. | 21200 | 46750 |
| &nbsp;&nbsp;&nbsp;Da-Li Development Co. Ltd. | 14376 | 21067 |
| &nbsp;&nbsp;&nbsp;Darfon Electronics Corp. | 17000 | 14331 |
| &nbsp;&nbsp;&nbsp;Depo Auto Parts Ind Co. Ltd. | 8000 | 33156 |
| &nbsp;&nbsp;&nbsp;Dimerco Express Corp. | 8000 | 19518 |
| &nbsp;&nbsp;&nbsp;Dynamic Holding Co. Ltd. | 21356 | 116900 |
| &nbsp;&nbsp;&nbsp;E Ink Holdings, Inc. | 35000 | 149437 |
| &nbsp;&nbsp;&nbsp;E.Sun Financial Holding Co. Ltd. | 114131 | 113346 |
| &nbsp;&nbsp;&nbsp;Eclat Textile Co. Ltd. | 9000 | 92900 |
| &nbsp;&nbsp;&nbsp;ECOVE Environment Corp. | 2000 | 18048 |
| &nbsp;&nbsp;&nbsp;Edom Technology Co. Ltd. \* | 10000 | 10776 |
| &nbsp;&nbsp;&nbsp;Elan Microelectronics Corp. | 13000 | 49609 |
| &nbsp;&nbsp;&nbsp;Ennoconn Corp. | 4116 | 34890 |
| &nbsp;&nbsp;&nbsp;EnTie Commercial Bank Co. Ltd. | 68000 | 27438 |
| &nbsp;&nbsp;&nbsp;Eternal Materials Co. Ltd. | 42300 | 76211 |
| &nbsp;&nbsp;&nbsp;Eva Airways Corp. | 241478 | 256433 |
| &nbsp;&nbsp;&nbsp;Evergreen Aviation Technologies Corp. | 11000 | 50235 |
| &nbsp;&nbsp;&nbsp;Evergreen International Storage & Transport Corp. | 27000 | 42649 |
| &nbsp;&nbsp;&nbsp;Evergreen Marine Corp. Taiwan Ltd. | 70583 | 440454 |
| &nbsp;&nbsp;&nbsp;EVERGREEN Steel Corp. | 13000 | 39362 |
| &nbsp;&nbsp;&nbsp;Everlight Chemical Industrial Corp. | 56000 | 63672 |
| &nbsp;&nbsp;&nbsp;Everlight Electronics Co. Ltd. | 32000 | 66863 |
| &nbsp;&nbsp;&nbsp;Excelsior Medical Co. Ltd. | 14350 | 34562 |
| &nbsp;&nbsp;&nbsp;Far Eastern Department Stores Ltd. | 56220 | 39918 |
| &nbsp;&nbsp;&nbsp;Far Eastern International Bank | 161146 | 62755 |
| &nbsp;&nbsp;&nbsp;Far Eastern New Century Corp. | 185338 | 152468 |
| &nbsp;&nbsp;&nbsp;Far EasTone Telecommunications Co. Ltd. | 99000 | 284582 |
| &nbsp;&nbsp;&nbsp;Farglory Land Development Co. Ltd. | 26721 | 58925 |
| &nbsp;&nbsp;&nbsp;Feng Hsin Steel Co. Ltd. | 17000 | 32649 |
| &nbsp;&nbsp;&nbsp;Feng TAY Enterprise Co. Ltd. | 19000 | 47604 |
| &nbsp;&nbsp;&nbsp;First Financial Holding Co. Ltd. | 610444 | 538459 |
| &nbsp;&nbsp;&nbsp;FIT Holding Co. Ltd. | 9000 | 6095 |
| &nbsp;&nbsp;&nbsp;Fitipower Integrated Technology, Inc. | 5600 | 26625 |
| &nbsp;&nbsp;&nbsp;Flytech Technology Co. Ltd. | 5000 | 15077 |
| &nbsp;&nbsp;&nbsp;FocalTech Systems Co. Ltd. | 8000 | 11861 |
| &nbsp;&nbsp;&nbsp;Forcecon Tech Co. Ltd. | 5913 | 13890 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Taiwan (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Formosa Advanced Technologies Co. Ltd. | 20000 | $36409 |
| &nbsp;&nbsp;&nbsp;Formosa Chemicals & Fibre Corp. | 152000 | 213713 |
| &nbsp;&nbsp;&nbsp;Formosa Petrochemical Corp. | 61000 | 105133 |
| &nbsp;&nbsp;&nbsp;Formosa Plastics Corp. | 168000 | 241201 |
| &nbsp;&nbsp;&nbsp;Formosa Sumco Technology Corp. | 5000 | 20410 |
| &nbsp;&nbsp;&nbsp;Formosa Taffeta Co. Ltd. | 49000 | 25289 |
| &nbsp;&nbsp;&nbsp;Formosan Union Chemical Corp. | 48179 | 26825 |
| &nbsp;&nbsp;&nbsp;Foxconn Technology Co. Ltd. | 16127 | 25474 |
| &nbsp;&nbsp;&nbsp;Foxsemicon Integrated Technology, Inc. | 4000 | 36159 |
| &nbsp;&nbsp;&nbsp;FSP Technology, Inc. | 8000 | 12562 |
| &nbsp;&nbsp;&nbsp;Fu Hua Innovation Co. Ltd. | 27714 | 12786 |
| &nbsp;&nbsp;&nbsp;Fubon Financial Holding Co. Ltd. | 530823 | 1427925 |
| &nbsp;&nbsp;&nbsp;Fulltech Fiber Glass Corp. \* | 16064 | 48137 |
| &nbsp;&nbsp;&nbsp;Fusheng Precision Co. Ltd. | 5000 | 40194 |
| &nbsp;&nbsp;&nbsp;G Shank Enterprise Co. Ltd. | 10589 | 26994 |
| &nbsp;&nbsp;&nbsp;Gamania Digital Entertainment Co. Ltd. | 13000 | 17262 |
| &nbsp;&nbsp;&nbsp;Gemtek Technology Corp. | 47000 | 52998 |
| &nbsp;&nbsp;&nbsp;General Interface Solution GIS Holding Ltd. \* | 18000 | 29221 |
| &nbsp;&nbsp;&nbsp;Genius Electronic Optical Co. Ltd. | 4000 | 54739 |
| &nbsp;&nbsp;&nbsp;Getac Holdings Corp. | 21000 | 64044 |
| &nbsp;&nbsp;&nbsp;GFC Ltd. | 3000 | 10932 |
| &nbsp;&nbsp;&nbsp;Giant Manufacturing Co. Ltd. | 20000 | 44980 |
| &nbsp;&nbsp;&nbsp;Gigabyte Technology Co. Ltd. | 18000 | 125274 |
| &nbsp;&nbsp;&nbsp;Global Brands Manufacture Ltd. | 21888 | 60317 |
| &nbsp;&nbsp;&nbsp;Global Mixed Mode Technology, Inc. | 3000 | 21114 |
| &nbsp;&nbsp;&nbsp;Global PMX Co. Ltd. | 2000 | 8070 |
| &nbsp;&nbsp;&nbsp;Globalwafers Co. Ltd. | 15000 | 197294 |
| &nbsp;&nbsp;&nbsp;Gloria Material Technology Corp. | 34392 | 34102 |
| &nbsp;&nbsp;&nbsp;Goldsun Building Materials Co. Ltd. | 82973 | 92913 |
| &nbsp;&nbsp;&nbsp;Grape King Bio Ltd. | 10000 | 37848 |
| &nbsp;&nbsp;&nbsp;Great Wall Enterprise Co. Ltd. | 44330 | 75293 |
| &nbsp;&nbsp;&nbsp;Greatek Electronics, Inc. | 16000 | 42290 |
| &nbsp;&nbsp;&nbsp;Group Up Industrial Co. Ltd. | 2000 | 18361 |
| &nbsp;&nbsp;&nbsp;Gudeng Precision Industrial Co. Ltd. | 1000 | 11777 |
| &nbsp;&nbsp;&nbsp;Hannstar Board Corp. | 23814 | 59367 |
| &nbsp;&nbsp;&nbsp;HannsTouch Holdings Co. \* | 32279 | 11561 |
| &nbsp;&nbsp;&nbsp;Hey Song Corp. | 18750 | 20996 |
| &nbsp;&nbsp;&nbsp;Highwealth Construction Corp. | 98135 | 106822 |
| &nbsp;&nbsp;&nbsp;Hiwin Technologies Corp. | 19000 | 135799 |
| &nbsp;&nbsp;&nbsp;Ho Tung Chemical Corp. | 63688 | 19363 |
| &nbsp;&nbsp;&nbsp;Holy Stone Enterprise Co. Ltd. | 10500 | 45160 |
| &nbsp;&nbsp;&nbsp;Hon Hai Precision Industry Co. Ltd. | 654068 | 3836026 |
| &nbsp;&nbsp;&nbsp;Hong TAI Electric Industrial | 32000 | 34182 |
| &nbsp;&nbsp;&nbsp;Hota Industrial Manufacturing Co. Ltd. | 6000 | 9234 |
| &nbsp;&nbsp;&nbsp;Hotai Finance Co. Ltd. | 14000 | 27107 |
| &nbsp;&nbsp;&nbsp;Hotai Motor Co. Ltd. | 13000 | 196606 |
| &nbsp;&nbsp;&nbsp;Hsin Kuang Steel Co. Ltd. | 13000 | 16103 |
| &nbsp;&nbsp;&nbsp;Hu Lane Associate, Inc. | 4305 | 14543 |
| &nbsp;&nbsp;&nbsp;Hua Nan Financial Holdings Co. Ltd. | 318453 | 330705 |
| &nbsp;&nbsp;&nbsp;Hua Yu Lien Development Co. Ltd. | 3904 | 6472 |
| &nbsp;&nbsp;&nbsp;Huaku Development Co. Ltd. | 18585 | 69759 |
| &nbsp;&nbsp;&nbsp;Hung Sheng Construction Ltd. | 13688 | 8499 |
| &nbsp;&nbsp;&nbsp;I-Sheng Electric Wire & Cable Co. Ltd. | 9000 | 13161 |
| &nbsp;&nbsp;&nbsp;IBF Financial Holdings Co. Ltd. | 132503 | 61755 |
| &nbsp;&nbsp;&nbsp;Ichia Technologies, Inc. | 11000 | 16911 |
| &nbsp;&nbsp;&nbsp;IEI Integration Corp. | 8000 | 15189 |
| &nbsp;&nbsp;&nbsp;Innodisk Corp. | 2039 | 54020 |
| &nbsp;&nbsp;&nbsp;Innolux Corp. | 361645 | 269791 |
| &nbsp;&nbsp;&nbsp;Inpaq Technology Co. Ltd. | 9000 | 22437 |
| &nbsp;&nbsp;&nbsp;Inventec Corp. | 149282 | 187011 |
| &nbsp;&nbsp;&nbsp;ITE Technology, Inc. | 6000 | 21489 |
| &nbsp;&nbsp;&nbsp;ITEQ Corp. | 15000 | 69675 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;JPC connectivity, Inc. | 5000 | $24789 |
| &nbsp;&nbsp;&nbsp;Kedge Construction Co. Ltd. | 4324 | 10685 |
| &nbsp;&nbsp;&nbsp;Kenda Rubber Industrial Co. Ltd. | 34650 | 19671 |
| &nbsp;&nbsp;&nbsp;Kerry TJ Logistics Co. Ltd. | 9000 | 8642 |
| &nbsp;&nbsp;&nbsp;KGI Financial Holding Co. Ltd. | 1124694 | 677209 |
| &nbsp;&nbsp;&nbsp;Kindom Development Co. Ltd. | 27720 | 27573 |
| &nbsp;&nbsp;&nbsp;King Yuan Electronics Co. Ltd. | 58100 | 474323 |
| &nbsp;&nbsp;&nbsp;Kinpo Electronics | 111000 | 74822 |
| &nbsp;&nbsp;&nbsp;Kinsus Interconnect Technology Corp. | 31217 | 305628 |
| &nbsp;&nbsp;&nbsp;Kung Long Batteries Industrial Co. Ltd. | 8000 | 30904 |
| &nbsp;&nbsp;&nbsp;Kuo Toong International Co. Ltd. | 16000 | 25424 |
| &nbsp;&nbsp;&nbsp;L&K Engineering Co. Ltd. | 2397 | 39288 |
| &nbsp;&nbsp;&nbsp;Lanner Electronics, Inc. | 6000 | 12537 |
| &nbsp;&nbsp;&nbsp;Largan Precision Co. Ltd. | 7000 | 471849 |
| &nbsp;&nbsp;&nbsp;Lelon Electronics Corp. | 10000 | 39412 |
| &nbsp;&nbsp;&nbsp;Lien Hwa Industrial Holdings Corp. | 33666 | 47440 |
| &nbsp;&nbsp;&nbsp;Lion Travel Service Co. Ltd. | 3000 | 14592 |
| &nbsp;&nbsp;&nbsp;Lite-On Technology Corp. | 127874 | 561974 |
| &nbsp;&nbsp;&nbsp;Lotes Co. Ltd. | 4000 | 256490 |
| &nbsp;&nbsp;&nbsp;Lotus Pharmaceutical Co. Ltd. | 10000 | 64748 |
| &nbsp;&nbsp;&nbsp;Lumax International Corp. Ltd. | 4000 | 14388 |
| &nbsp;&nbsp;&nbsp;Lung Yen Life Service Corp. \* | 16000 | 23447 |
| &nbsp;&nbsp;&nbsp;Macronix International Co. Ltd. \* | 72171 | 260737 |
| &nbsp;&nbsp;&nbsp;Makalot Industrial Co. Ltd. | 9000 | 64044 |
| &nbsp;&nbsp;&nbsp;Marketech International Corp. | 5000 | 42696 |
| &nbsp;&nbsp;&nbsp;MediaTek, Inc. | 45000 | 2097279 |
| &nbsp;&nbsp;&nbsp;Mega Financial Holding Co. Ltd. | 324287 | 390017 |
| &nbsp;&nbsp;&nbsp;Mercuries & Associates Holding Ltd. | 19184 | 8641 |
| &nbsp;&nbsp;&nbsp;Mercuries Life Insurance Co. Ltd. \* | 81475 | 19470 |
| &nbsp;&nbsp;&nbsp;Merida Industry Co. Ltd. | 15000 | 30450 |
| &nbsp;&nbsp;&nbsp;Merry Electronics Co. Ltd. | 15226 | 39768 |
| &nbsp;&nbsp;&nbsp;Micro-Star International Co. Ltd. | 42000 | 111667 |
| &nbsp;&nbsp;&nbsp;Mitac Holdings Corp. | 53500 | 123500 |
| &nbsp;&nbsp;&nbsp;MOSA Industrial Corp. \* | 9616 | 5745 |
| &nbsp;&nbsp;&nbsp;Motech Industries, Inc. | 17000 | 14038 |
| &nbsp;&nbsp;&nbsp;Nak Sealing Technologies Corp. | 3000 | 10651 |
| &nbsp;&nbsp;&nbsp;Namchow Holdings Co. Ltd. | 7000 | 7970 |
| &nbsp;&nbsp;&nbsp;Nan Kang Rubber Tire Co. Ltd. | 12321 | 13566 |
| &nbsp;&nbsp;&nbsp;Nan Pao Resins Chemical Co. Ltd. | 2000 | 19299 |
| &nbsp;&nbsp;&nbsp;Nan Ya Plastics Corp. | 202000 | 466931 |
| &nbsp;&nbsp;&nbsp;Nan Ya Printed Circuit Board Corp. | 15000 | 244917 |
| &nbsp;&nbsp;&nbsp;Nantex Industry Co. Ltd. | 10000 | 8023 |
| &nbsp;&nbsp;&nbsp;Nanya Technology Corp. \* | 64000 | 397373 |
| &nbsp;&nbsp;&nbsp;Nichidenbo Corp. | 6000 | 16985 |
| &nbsp;&nbsp;&nbsp;Nien Made Enterprise Co. Ltd. | 7000 | 72255 |
| &nbsp;&nbsp;&nbsp;Novatek Microelectronics Corp. | 10000 | 118705 |
| &nbsp;&nbsp;&nbsp;O-Bank Co. Ltd. | 91943 | 28759 |
| &nbsp;&nbsp;&nbsp;Ocean Plastics Co. Ltd. | 9000 | 9388 |
| &nbsp;&nbsp;&nbsp;Orient Semiconductor Electronics Ltd. | 30485 | 47678 |
| &nbsp;&nbsp;&nbsp;Pan German Universal Motors Ltd. | 2000 | 14514 |
| &nbsp;&nbsp;&nbsp;Pan Jit International, Inc. | 24600 | 66482 |
| &nbsp;&nbsp;&nbsp;Pan-International Industrial Corp. | 34380 | 46241 |
| &nbsp;&nbsp;&nbsp;Parade Technologies Ltd. | 5000 | 74445 |
| &nbsp;&nbsp;&nbsp;Pegatron Corp. | 134249 | 319980 |
| &nbsp;&nbsp;&nbsp;Pegavision Corp. | 2000 | 17329 |
| &nbsp;&nbsp;&nbsp;Phison Electronics Corp. | 9000 | 422271 |
| &nbsp;&nbsp;&nbsp;Pixart Imaging, Inc. | 8000 | 44292 |
| &nbsp;&nbsp;&nbsp;Pou Chen Corp. | 115133 | 101916 |
| &nbsp;&nbsp;&nbsp;Powerchip Semiconductor Manufacturing Corp. \* | 65000 | 107961 |
| &nbsp;&nbsp;&nbsp;Powertech Technology, Inc. | 49000 | 286612 |
| &nbsp;&nbsp;&nbsp;President Securities Corp. | 95299 | 94941 |
| &nbsp;&nbsp;&nbsp;Primax Electronics Ltd. | 25000 | 54739 |
| &nbsp;&nbsp;&nbsp;Prince Housing & Development Corp. | 77970 | 19633 |
| &nbsp;&nbsp;&nbsp;Promate Electronic Co. Ltd. | 9599 | 13361 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Taiwan (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Qisda Corp. | 106108 | $75507 |
| &nbsp;&nbsp;&nbsp;Quanta Computer, Inc. | 28000 | 243916 |
| &nbsp;&nbsp;&nbsp;Quanta Storage, Inc. | 7000 | 18962 |
| &nbsp;&nbsp;&nbsp;Radiant Opto-Electronics Corp. | 27000 | 77191 |
| &nbsp;&nbsp;&nbsp;Radium Life Tech Co. Ltd. | 41409 | 13600 |
| &nbsp;&nbsp;&nbsp;Raydium Semiconductor Corp. | 4000 | 27401 |
| &nbsp;&nbsp;&nbsp;Realtek Semiconductor Corp. | 1000 | 14952 |
| &nbsp;&nbsp;&nbsp;Rechi Precision Co. Ltd. | 30000 | 24539 |
| &nbsp;&nbsp;&nbsp;Ritek Corp. \* | 29000 | 11566 |
| &nbsp;&nbsp;&nbsp;Ruentex Development Co. Ltd. | 67600 | 52545 |
| &nbsp;&nbsp;&nbsp;Ruentex Industries Ltd. | 22891 | 33545 |
| &nbsp;&nbsp;&nbsp;Sakura Development Co. Ltd. | 8400 | 12586 |
| &nbsp;&nbsp;&nbsp;Sampo Corp. | 31600 | 24958 |
| &nbsp;&nbsp;&nbsp;San Fang Chemical Industry Co. Ltd. | 13000 | 13155 |
| &nbsp;&nbsp;&nbsp;Sanyang Motor Co. Ltd. | 41573 | 75812 |
| &nbsp;&nbsp;&nbsp;ScinoPharm Taiwan Ltd. | 14000 | 9065 |
| &nbsp;&nbsp;&nbsp;SDI Corp. | 10000 | 29528 |
| &nbsp;&nbsp;&nbsp;Sercomm Corp. \* | 18000 | 42227 |
| &nbsp;&nbsp;&nbsp;Sesoda Corp. | 17193 | 22695 |
| &nbsp;&nbsp;&nbsp;Shanghai Commercial & Savings Bank Ltd. (The) | 171618 | 209356 |
| &nbsp;&nbsp;&nbsp;Shihlin Electric & Engineering Corp. | 11000 | 61417 |
| &nbsp;&nbsp;&nbsp;Shin Ruenn Development Co. Ltd. | 5650 | 6760 |
| &nbsp;&nbsp;&nbsp;Shin Zu Shing Co. Ltd. | 9064 | 54152 |
| &nbsp;&nbsp;&nbsp;Shinkong Insurance Co. Ltd. | 11000 | 40256 |
| &nbsp;&nbsp;&nbsp;Shinkong Synthetic Fibers Corp. | 108151 | 52266 |
| &nbsp;&nbsp;&nbsp;Shinkong Textile Co. Ltd. | 4000 | 7595 |
| &nbsp;&nbsp;&nbsp;Shiny Chemical Industrial Co. Ltd. | 3000 | 12762 |
| &nbsp;&nbsp;&nbsp;Sigurd Microelectronics Corp. | 42694 | 199648 |
| &nbsp;&nbsp;&nbsp;Simplo Technology Co. Ltd. | 9000 | 93744 |
| &nbsp;&nbsp;&nbsp;Sinbon Electronics Co. Ltd. | 11000 | 86362 |
| &nbsp;&nbsp;&nbsp;Sincere Navigation Corp. | 27810 | 36535 |
| &nbsp;&nbsp;&nbsp;Sino-American Silicon Products, Inc. | 33000 | 110963 |
| &nbsp;&nbsp;&nbsp;Sinon Corp. | 37000 | 51270 |
| &nbsp;&nbsp;&nbsp;SinoPac Financial Holdings Co. Ltd. | 739233 | 709867 |
| &nbsp;&nbsp;&nbsp;Sinyi Realty, Inc. | 11000 | 6847 |
| &nbsp;&nbsp;&nbsp;Sitronix Technology Corp. | 9000 | 53769 |
| &nbsp;&nbsp;&nbsp;Soft-World International Corp. | 4000 | 12387 |
| &nbsp;&nbsp;&nbsp;Solar Applied Materials Technology Corp. | 18000 | 50391 |
| &nbsp;&nbsp;&nbsp;Sporton International, Inc. | 4000 | 23647 |
| &nbsp;&nbsp;&nbsp;Sports Gear Co. Ltd. | 4000 | 10898 |
| &nbsp;&nbsp;&nbsp;Standard Chemical & Pharmaceutical Co. Ltd. | 5000 | 9916 |
| &nbsp;&nbsp;&nbsp;Standard Foods Corp. | 31000 | 29817 |
| &nbsp;&nbsp;&nbsp;Stark Technology, Inc. | 2000 | 8633 |
| &nbsp;&nbsp;&nbsp;Starlux Airlines Co. Ltd. \* | 44000 | 28833 |
| &nbsp;&nbsp;&nbsp;Sunny Friend Environmental Technology Co. Ltd. | 4000 | 9509 |
| &nbsp;&nbsp;&nbsp;Sunonwealth Electric Machine Industry Co. Ltd. | 12445 | 47880 |
| &nbsp;&nbsp;&nbsp;Sunplus Technology Co. Ltd. \* | 12000 | 7319 |
| &nbsp;&nbsp;&nbsp;Sunrex Technology Corp. | 6000 | 7451 |
| &nbsp;&nbsp;&nbsp;Superalloy Industrial Co. Ltd. | 12000 | 15690 |
| &nbsp;&nbsp;&nbsp;Supreme Electronics Co. Ltd. | 40000 | 92211 |
| &nbsp;&nbsp;&nbsp;Swancor Holding Co. Ltd. | 5000 | 18611 |
| &nbsp;&nbsp;&nbsp;Syncmold Enterprise Corp. | 5000 | 15421 |
| &nbsp;&nbsp;&nbsp;Synmosa Biopharma Corp. | 17986 | 17384 |
| &nbsp;&nbsp;&nbsp;Synnex Technology International Corp. | 77300 | 183276 |
| &nbsp;&nbsp;&nbsp;Systex Corp. | 9000 | 29559 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;T3EX Global Holdings Corp. | 4000 | $8508 |
| &nbsp;&nbsp;&nbsp;TA Chen Stainless Pipe | 110317 | 127156 |
| &nbsp;&nbsp;&nbsp;Ta Ya Electric Wire & Cable | 47958 | 47478 |
| &nbsp;&nbsp;&nbsp;TA-I Technology Co. Ltd. | 6000 | 10904 |
| &nbsp;&nbsp;&nbsp;TAI-TECH Advanced Electronics Co. Ltd. \* | 3000 | 13325 |
| &nbsp;&nbsp;&nbsp;Taichung Commercial Bank Co. Ltd. | 284630 | 182957 |
| &nbsp;&nbsp;&nbsp;TaiDoc Technology Corp. | 7000 | 26603 |
| &nbsp;&nbsp;&nbsp;Taiflex Scientific Co. Ltd. | 26923 | 89687 |
| &nbsp;&nbsp;&nbsp;Tainan Spinning Co. Ltd. | 21427 | 8478 |
| &nbsp;&nbsp;&nbsp;Taiwan Acceptance Corp. | 16800 | 40463 |
| &nbsp;&nbsp;&nbsp;Taiwan Business Bank | 453954 | 212991 |
| &nbsp;&nbsp;&nbsp;Taiwan Cogeneration Corp. | 27000 | 36484 |
| &nbsp;&nbsp;&nbsp;Taiwan Cooperative Financial Holding Co. Ltd. | 350093 | 256793 |
| &nbsp;&nbsp;&nbsp;Taiwan Fertilizer Co. Ltd. | 48000 | 68314 |
| &nbsp;&nbsp;&nbsp;Taiwan Fire & Marine Insurance Co. Ltd. | 8400 | 12218 |
| &nbsp;&nbsp;&nbsp;Taiwan FU Hsing Industrial Co. Ltd. | 6800 | 9571 |
| &nbsp;&nbsp;&nbsp;Taiwan Glass Industry Corp. \* | 81321 | 132016 |
| &nbsp;&nbsp;&nbsp;Taiwan Hon Chuan Enterprise Co. Ltd. | 26612 | 96143 |
| &nbsp;&nbsp;&nbsp;Taiwan Mobile Co. Ltd. | 90000 | 306850 |
| &nbsp;&nbsp;&nbsp;Taiwan Navigation Co. Ltd. | 22000 | 20507 |
| &nbsp;&nbsp;&nbsp;Taiwan Paiho Ltd. | 12000 | 17360 |
| &nbsp;&nbsp;&nbsp;Taiwan PCB Techvest Co. Ltd. | 28000 | 28070 |
| &nbsp;&nbsp;&nbsp;Taiwan Sakura Corp. | 6000 | 16515 |
| &nbsp;&nbsp;&nbsp;Taiwan Secom Co. Ltd. | 7000 | 24851 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Co. Ltd. | 10000 | 16328 |
| &nbsp;&nbsp;&nbsp;Taiwan Shin Kong Security Co. Ltd. | 19100 | 24345 |
| &nbsp;&nbsp;&nbsp;Taiwan Surface Mounting Technology Corp. | 21518 | 62259 |
| &nbsp;&nbsp;&nbsp;Taiwan Union Technology Corp. | 2000 | 35596 |
| &nbsp;&nbsp;&nbsp;Tatung Co. Ltd. | 98800 | 96420 |
| &nbsp;&nbsp;&nbsp;TCC Group Holdings Co. Ltd. | 323971 | 233073 |
| &nbsp;&nbsp;&nbsp;TCI Co. Ltd. | 5000 | 19628 |
| &nbsp;&nbsp;&nbsp;Teco Electric & Machinery Co. Ltd. | 65000 | 121989 |
| &nbsp;&nbsp;&nbsp;Test Research, Inc. | 11000 | 87911 |
| &nbsp;&nbsp;&nbsp;Thinking Electronic Industrial Co. Ltd. | 4000 | 18705 |
| &nbsp;&nbsp;&nbsp;Ton Yi Industrial Corp. | 82000 | 46681 |
| &nbsp;&nbsp;&nbsp;Tong Hsing Electronic Industries Ltd. | 12870 | 56560 |
| &nbsp;&nbsp;&nbsp;Tong Yang Industry Co. Ltd. | 29921 | 75434 |
| &nbsp;&nbsp;&nbsp;Topco Scientific Co. Ltd. | 8115 | 77292 |
| &nbsp;&nbsp;&nbsp;Topkey Corp. | 3000 | 13982 |
| &nbsp;&nbsp;&nbsp;TPK Holding Co. Ltd. | 34000 | 46156 |
| &nbsp;&nbsp;&nbsp;Transcend Information, Inc. | 10000 | 65999 |
| &nbsp;&nbsp;&nbsp;Tripod Technology Corp. | 29000 | 307053 |
| &nbsp;&nbsp;&nbsp;TS Financial Holding Co. Ltd. | 1301036 | 942101 |
| &nbsp;&nbsp;&nbsp;TSRC Corp. | 26000 | 15615 |
| &nbsp;&nbsp;&nbsp;TTY Biopharm Co. Ltd. | 17000 | 38711 |
| &nbsp;&nbsp;&nbsp;Tung Ho Steel Enterprise Corp. | 47290 | 100290 |
| &nbsp;&nbsp;&nbsp;TXC Corp. | 16000 | 46393 |
| &nbsp;&nbsp;&nbsp;TYC Brother Industrial Co. Ltd. | 21000 | 20658 |
| &nbsp;&nbsp;&nbsp;U-Ming Marine Transport Corp. | 27000 | 48983 |
| &nbsp;&nbsp;&nbsp;Uni-President Enterprises Corp. | 284000 | 630716 |
| &nbsp;&nbsp;&nbsp;Unimicron Technology Corp. | 88962 | 1236897 |
| &nbsp;&nbsp;&nbsp;Union Bank of Taiwan | 79276 | 50958 |
| &nbsp;&nbsp;&nbsp;Unitech Printed Circuit Board Corp. | 55184 | 126870 |
| &nbsp;&nbsp;&nbsp;United Microelectronics Corp. | 485513 | 858038 |
| &nbsp;&nbsp;&nbsp;United Microelectronics Corp., ADR | 51052 | 458447 |
| &nbsp;&nbsp;&nbsp;United Orthopedic Corp. | 7000 | 21414 |
| &nbsp;&nbsp;&nbsp;United Renewable Energy Co. Ltd. \* | 24000 | 15952 |
| &nbsp;&nbsp;&nbsp;Universal Cement Corp. | 49205 | 45173 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |
| ***Taiwan (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Vanguard International Semiconductor Corp. | 47576 | $172625 |
| &nbsp;&nbsp;&nbsp;Via Technologies, Inc. | 8000 | 13062 |
| &nbsp;&nbsp;&nbsp;Visco Vision, Inc. | 2000 | 11824 |
| &nbsp;&nbsp;&nbsp;VisEra Technologies Co. Ltd. | 3000 | 28527 |
| &nbsp;&nbsp;&nbsp;Vizionfocus, Inc. | 2000 | 11292 |
| &nbsp;&nbsp;&nbsp;Wafer Works Corp. \* | 35503 | 36369 |
| &nbsp;&nbsp;&nbsp;Wah Lee Industrial Corp. | 18420 | 66835 |
| &nbsp;&nbsp;&nbsp;Walsin Lihwa Corp. | 160198 | 151078 |
| &nbsp;&nbsp;&nbsp;Walsin Technology Corp. | 22000 | 80513 |
| &nbsp;&nbsp;&nbsp;Wan Hai Lines Ltd. | 47000 | 113347 |
| &nbsp;&nbsp;&nbsp;Weikeng Industrial Co. Ltd. | 32945 | 32770 |
| &nbsp;&nbsp;&nbsp;Win Semiconductors Corp. | 25000 | 274867 |
| &nbsp;&nbsp;&nbsp;Winbond Electronics Corp. | 203378 | 573810 |
| &nbsp;&nbsp;&nbsp;Winstek Semiconductor Co. Ltd. | 3000 | 13372 |
| &nbsp;&nbsp;&nbsp;Wisdom Marine Lines Co. Ltd. | 27019 | 56624 |
| &nbsp;&nbsp;&nbsp;Wistron Corp. | 174431 | 668370 |
| &nbsp;&nbsp;&nbsp;WNC Corp. | 26429 | 140536 |
| &nbsp;&nbsp;&nbsp;Wowprime Corp. | 3000 | 21442 |
| &nbsp;&nbsp;&nbsp;WPG Holdings Ltd. | 95400 | 262596 |
| &nbsp;&nbsp;&nbsp;WT Microelectronics Co. Ltd. | 34360 | 233222 |
| &nbsp;&nbsp;&nbsp;Yageo Corp. | 115800 | 881992 |
| &nbsp;&nbsp;&nbsp;Yang Ming Marine Transport Corp. | 95000 | 154520 |
| &nbsp;&nbsp;&nbsp;YC INOX Co. Ltd. | 29977 | 18800 |
| &nbsp;&nbsp;&nbsp;Yea Shin International Development Co. Ltd. | 1065 | 889 |
| &nbsp;&nbsp;&nbsp;Yem Chio Co. Ltd. | 23119 | 9871 |
| &nbsp;&nbsp;&nbsp;YFY, Inc. | 110385 | 92534 |
| &nbsp;&nbsp;&nbsp;Yieh Phui Enterprise Co. Ltd. \* | 56254 | 24986 |
| &nbsp;&nbsp;&nbsp;Youngtek Electronics Corp. | 12000 | 27025 |
| &nbsp;&nbsp;&nbsp;Yuanta Financial Holding Co. Ltd. | 696396 | 974780 |
| &nbsp;&nbsp;&nbsp;Yulon Motor Co. Ltd. | 54247 | 46153 |
| &nbsp;&nbsp;&nbsp;YungShin Global Holding Corp. | 7000 | 11845 |
| &nbsp;&nbsp;&nbsp;Zeng Hsing Industrial Co. Ltd. | 2148 | 6168 |
| &nbsp;&nbsp;&nbsp;Zero One Technology Co. Ltd. | 9000 | 26322 |
| &nbsp;&nbsp;&nbsp;Zhen Ding Technology Holding Ltd. | 55000 | 355255 |
| &nbsp;&nbsp;&nbsp;Zyxel Group Corp. | 31438 | 32156 |
|  |  | 48536636 |
| ***Thailand — 1.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;AP Thailand PCL | 242500 | 61765 |
| &nbsp;&nbsp;&nbsp;Asset World Corp. PCL | 202400 | 12520 |
| &nbsp;&nbsp;&nbsp;Bangchak Corp. PCL | 73300 | 87235 |
| &nbsp;&nbsp;&nbsp;Bangkok Bank PCL | 56300 | 284231 |
| &nbsp;&nbsp;&nbsp;Bangkok Bank PCL, NVDR | 13300 | 67145 |
| &nbsp;&nbsp;&nbsp;Bangkok Commercial Asset Management PCL | 116500 | 25080 |
| &nbsp;&nbsp;&nbsp;Bangkok Life Assurance PCL, NVDR | 26800 | 16577 |
| &nbsp;&nbsp;&nbsp;Banpu PCL | 429750 | 78835 |
| &nbsp;&nbsp;&nbsp;Berli Jucker PCL | 64800 | 29865 |
| &nbsp;&nbsp;&nbsp;Charoen Pokphand Foods PCL | 179100 | 113499 |
| &nbsp;&nbsp;&nbsp;CP Axtra PCL | 56521 | 27421 |
| &nbsp;&nbsp;&nbsp;GFPT PCL | 33300 | 9542 |
| &nbsp;&nbsp;&nbsp;Hana Microelectronics PCL | 30500 | 25432 |
| &nbsp;&nbsp;&nbsp;Kasikornbank PCL, NVDR | 23200 | 134360 |
| &nbsp;&nbsp;&nbsp;Krung Thai Bank PCL | 59575 | 63224 |
| &nbsp;&nbsp;&nbsp;PTT Exploration & Production PCL | 46400 | 227920 |
| &nbsp;&nbsp;&nbsp;PTT Global Chemical PCL | 123028 | 136159 |
| &nbsp;&nbsp;&nbsp;PTT PCL | 759800 | 800578 |
| &nbsp;&nbsp;&nbsp;Regional Container Lines PCL | 17100 | 16333 |
| &nbsp;&nbsp;&nbsp;Sansiri PCL | 1106700 | 45637 |
| &nbsp;&nbsp;&nbsp;Siam Cement PCL (The) | 31500 | 197711 |
| &nbsp;&nbsp;&nbsp;Sri Trang Agro-Industry PCL | 57200 | 30872 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;Sri Trang Gloves Thailand PCL | 50900 | $17286 |
| &nbsp;&nbsp;&nbsp;Star Petroleum Refining PCL | 80000 | 17223 |
| &nbsp;&nbsp;&nbsp;Stecon Group PCL | 70300 | 15667 |
| &nbsp;&nbsp;&nbsp;Supalai PCL | 115700 | 57183 |
| &nbsp;&nbsp;&nbsp;Thai Oil PCL | 58777 | 86882 |
| &nbsp;&nbsp;&nbsp;Thanachart Capital PCL | 17800 | 30629 |
| &nbsp;&nbsp;&nbsp;TMBThanachart Bank PCL | 534672 | 37288 |
| &nbsp;&nbsp;&nbsp;WHA Corp. PCL | 253200 | 32245 |
|  |  | 2786344 |
| ***Turkey — 0.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;Alarko Holding AS | 8981 | 17865 |
| &nbsp;&nbsp;&nbsp;Albaraka Turk Katilim Bankasi AS | 137184 | 24819 |
| &nbsp;&nbsp;&nbsp;Aygaz AS | 2629 | 13796 |
| &nbsp;&nbsp;&nbsp;Dogan Sirketler Grubu Holding AS | 84330 | 37895 |
| &nbsp;&nbsp;&nbsp;Dogus Otomotiv Servis ve Ticaret AS | 5901 | 25614 |
| &nbsp;&nbsp;&nbsp;Enka Insaat ve Sanayi AS | 52886 | 111209 |
| &nbsp;&nbsp;&nbsp;Eregli Demir ve Celik Fabrikalari TAS | 123498 | 78422 |
| &nbsp;&nbsp;&nbsp;Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D \* | 72396 | 50338 |
| &nbsp;&nbsp;&nbsp;KOC Holding AS | 47064 | 206300 |
| &nbsp;&nbsp;&nbsp;Pegasus Hava Tasimaciligi AS \* | 3440 | 13585 |
| &nbsp;&nbsp;&nbsp;Turk Hava Yollari AO | 41883 | 277316 |
| &nbsp;&nbsp;&nbsp;Turk Telekomunikasyon AS \* | 40171 | 52473 |
| &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri AS | 82156 | 195774 |
| &nbsp;&nbsp;&nbsp;Turkiye Petrol Rafinerileri AS | 26307 | 152874 |
| &nbsp;&nbsp;&nbsp;Turkiye Sinai Kalkinma Bankasi AS | 37637 | 9409 |
| &nbsp;&nbsp;&nbsp;Turkiye Sise ve Cam Fabrikalari AS | 63955 | 63292 |
|  |  | 1330981 |
| ***United Arab Emirates — 1.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Commercial Bank PJSC | 23080 | 77660 |
| &nbsp;&nbsp;&nbsp;Abu Dhabi National Hotels | 374550 | 40786 |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Ports Co. PJSC \* | 70011 | 73951 |
| &nbsp;&nbsp;&nbsp;Agthia Group PJSC | 18043 | 17437 |
| &nbsp;&nbsp;&nbsp;Ajman Bank PJSC | 74597 | 27416 |
| &nbsp;&nbsp;&nbsp;Alpha Dhabi Holding PJSC | 19902 | 37384 |
| &nbsp;&nbsp;&nbsp;Amanat Holdings PJSC | 96835 | 31898 |
| &nbsp;&nbsp;&nbsp;Bank of Sharjah \* | 40477 | 12893 |
| &nbsp;&nbsp;&nbsp;Dana Gas PJSC | 486882 | 113195 |
| &nbsp;&nbsp;&nbsp;Deyaar Development PJSC | 130763 | 28265 |
| &nbsp;&nbsp;&nbsp;Dubai Investments PJSC | 167588 | 172456 |
| &nbsp;&nbsp;&nbsp;Dubai Islamic Bank PJSC \* | 49261 | 98165 |
| &nbsp;&nbsp;&nbsp;Emaar Properties PJSC | 315614 | 1005277 |
| &nbsp;&nbsp;&nbsp;Emirates NBD Bank PJSC | 94573 | 688707 |
| &nbsp;&nbsp;&nbsp;EMSTEEL Building Materials PJSC \* | 112430 | 30914 |
| &nbsp;&nbsp;&nbsp;First Abu Dhabi Bank PJSC | 20870 | 96586 |
| &nbsp;&nbsp;&nbsp;Ghitha Holding PJSC \* | 870 | 3145 |
| &nbsp;&nbsp;&nbsp;Modon Holding PSC \* | 121014 | 95538 |
| &nbsp;&nbsp;&nbsp;National Bank of Ras Al-Khaimah PSC | 3941 | 8690 |
| &nbsp;&nbsp;&nbsp;National Central Cooling Co. PJSC | 34380 | 24803 |
| &nbsp;&nbsp;&nbsp;NMDC Group PJSC | 3520 | 16540 |
| &nbsp;&nbsp;&nbsp;RAK Properties PJSC \* | 93395 | 23925 |
| &nbsp;&nbsp;&nbsp;Ras Al Khaimah Ceramics PJSC | 45645 | 27586 |
| &nbsp;&nbsp;&nbsp;Sharjah Islamic Bank | 84206 | 73356 |
| &nbsp;&nbsp;&nbsp;Two Point Zero Group PJSC \* | 133955 | 70017 |
|  |  | 2896590 |
| ***United States — 0.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;GCC SAB de CV | 9763 | 103459 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCKS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $152,222,608) |  | 214841292 |
| **PREFERRED STOCKS — 1.1%** |  |  |
| ***Brazil — 1.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;Banco ABC Brasil SA, 10.207% | 9087 | 44559 |
| &nbsp;&nbsp;&nbsp;Banco Bradesco SA, 7.492% | 95016 | 351643 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Emerging Markets Value Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **PREFERRED STOCKS (Continued)** | **PREFERRED STOCKS (Continued)** | **PREFERRED STOCKS (Continued)** |
| ***Brazil (Continued)*** |  |  |
| &nbsp;&nbsp;&nbsp;Banco do Estado do Rio Grande do Sul SA, 9.293% | 14808 | $49314 |
| &nbsp;&nbsp;&nbsp;Cyrela Brazil Realty SA Empreendimentos e Participacoes \* | 722 | 3525 |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA - Petrobras, 6.007% | 195991 | 1841536 |
| &nbsp;&nbsp;&nbsp;Randoncorp SA, 0.842% | 9200 | 9858 |
|  |  | 2300435 |
| ***Colombia — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Grupo Argos SA, 5.252% | 3541 | 12627 |
| &nbsp;&nbsp;&nbsp;Grupo de Inversiones Suramericana SA, 3.571% | 7476 | 85471 |
|  |  | 98098 |
| &nbsp;&nbsp;&nbsp;TOTAL PREFERRED STOCKS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $896,294) |  | 2398533 |
| **RIGHTS AND WARRANTS — 0.0%** | **RIGHTS AND WARRANTS — 0.0%** | **RIGHTS AND WARRANTS — 0.0%** |
| ***Malaysia — 0.0%*** |  |  |
| &nbsp;&nbsp;&nbsp;Berjaya Corp. Bhd. \* | 54912 | 542 |
| &nbsp;&nbsp;&nbsp;TOTAL RIGHTS AND WARRANTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $0) |  | 542 |
| **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |
| ***Investment Company — 0.2%*** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% | 318063 | 318063 |
| ***Collateral For Securities On Loan — 0.3%*** | ***Collateral For Securities On Loan — 0.3%*** | ***Collateral For Securities On Loan — 0.3%*** |
| &nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Government Money Market Portfolio 3.680% | 666769 | 666769 |
| &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $984,832) |  | 984832 |
| **Total Investments — 100.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Identified Cost $154,103,734)** |  | **218225199** |
| &nbsp;&nbsp;&nbsp;Liabilities in excess of Cash and Other Assets — (0.7%) |  | (1619673) |
| **Net Assets — 100.0%** |  | $**216605526** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† See Note 1

\* Non-income producing security

---

| | |
|:---|:---|
| @ | A portion or all of the security was held on loan. As of March 31, 2026, the fair value of the securities on loan was $5,256,650. |

---

---

| | |
|:---|:---|
| ± | 144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at March 31, 2026 amounted to $3,479,833 or 1.61% of the net assets of the Fund. |

---

<> Fair valued security. Security is valued using significant observable inputs other than quoted prices as determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1

§ Fair valued security. Security is valued using significant unobservable inputs as determined pursuant to procedures approved by the Fund's Board of Trustees. See Note 1

Key to abbreviations:

ADR — American Depository Receipt

NVDR — Non-Voting Depository Receipt

GDR — Global Depository Receipt

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Real Estate Securities Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| ***Diversified REITs — 2.4%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alpine Income Property Trust, Inc. | 1013 | $18234 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Assets Trust, Inc. | 4156 | 76512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadstone Net Lease, Inc. | 18157 | 331728 |
| &nbsp;&nbsp;&nbsp;&nbsp;CTO Realty Growth, Inc. | 2292 | 42379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Essential Properties Realty Trust, Inc. | 21152 | 642175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gladstone Commercial Corp. | 3518 | 40211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Global Net Lease, Inc. | 12253 | 114688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Modiv Industrial, Inc. | 764 | 10940 |
| &nbsp;&nbsp;&nbsp;&nbsp;WP Carey, Inc. | 22032 | 1497295 |
|  |  | 2774162 |
| ***Health Care REITs — 16.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. | 15344 | 712269 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Healthcare REIT, Inc. | 18734 | 883495 |
| &nbsp;&nbsp;&nbsp;&nbsp;CareTrust REIT, Inc. | 22582 | 827630 |
| &nbsp;&nbsp;&nbsp;&nbsp;Chiron Real Estate, Inc. | 1025 | 33907 |
| &nbsp;&nbsp;&nbsp;&nbsp;Community Healthcare Trust, Inc. | 893 | 14190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diversified Healthcare Trust | 16347 | 108544 |
| &nbsp;&nbsp;&nbsp;&nbsp;Healthcare Realty Trust, Inc. | 31487 | 534964 |
| &nbsp;&nbsp;&nbsp;&nbsp;Healthpeak Properties, Inc. | 69028 | 1134130 |
| &nbsp;&nbsp;&nbsp;&nbsp;LTC Properties, Inc. | 5301 | 196985 |
| &nbsp;&nbsp;&nbsp;&nbsp;Medical Properties Trust, Inc. | 49407 | 228754 |
| &nbsp;&nbsp;&nbsp;&nbsp;National Health Investors, Inc. | 4395 | 355380 |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | 28341 | 1241903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sabra Health Care REIT, Inc. | 23826 | 458174 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sila Realty Trust, Inc. | 5641 | 133579 |
| &nbsp;&nbsp;&nbsp;&nbsp;Strawberry Fields REIT, Inc. | 897 | 10674 |
| &nbsp;&nbsp;&nbsp;&nbsp;Universal Health Realty Income Trust | 1361 | 55080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ventas, Inc. | 46495 | 3802361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | 45562 | 9008063 |
|  |  | 19740082 |
| ***Hotel & Resort REITs — 2.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple Hospitality REIT, Inc. | 16977 | 195405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ashford Hospitality Trust, Inc. \* | 2698 | 7392 |
| &nbsp;&nbsp;&nbsp;&nbsp;Braemar Hotels & Resorts, Inc. | 5146 | 12144 |
| &nbsp;&nbsp;&nbsp;&nbsp;Chatham Lodging Trust | 3830 | 30142 |
| &nbsp;&nbsp;&nbsp;&nbsp;DiamondRock Hospitality Co. | 21117 | 197866 |
| &nbsp;&nbsp;&nbsp;&nbsp;Host Hotels & Resorts, Inc. | 66786 | 1279620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Park Hotels & Resorts, Inc. @ | 20989 | 221014 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust | 9947 | 125631 |
| &nbsp;&nbsp;&nbsp;&nbsp;RLJ Lodging Trust | 11045 | 81954 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ryman Hospitality Properties, Inc. | 5706 | 526493 |
| &nbsp;&nbsp;&nbsp;&nbsp;Service Properties Trust @ | 11937 | 16175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Summit Hotel Properties, Inc. | 10691 | 47254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sunstone Hotel Investors, Inc. | 19666 | 177191 |
| &nbsp;&nbsp;&nbsp;&nbsp;Xenia Hotels & Resorts, Inc. | 9259 | 137311 |
|  |  | 3055592 |
| ***Industrial REITs — 10.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Americold Realty Trust, Inc. | 20976 | 240385 |
| &nbsp;&nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | 5228 | 967651 |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | 12892 | 745802 |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrial Logistics Properties Trust | 5224 | 29672 |
| &nbsp;&nbsp;&nbsp;&nbsp;Innovative Industrial Properties, Inc. | 2731 | 136987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lineage, Inc. @ | 6492 | 212678 |
| &nbsp;&nbsp;&nbsp;&nbsp;LXP Industrial Trust | 5637 | 260768 |
| &nbsp;&nbsp;&nbsp;&nbsp;One Liberty Properties, Inc. @ | 1482 | 31804 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | 61173 | 8085847 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rexford Industrial Realty, Inc. | 19418 | 635551 |
| &nbsp;&nbsp;&nbsp;&nbsp;STAG Industrial, Inc. | 18420 | 664225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Terreno Realty Corp. | 10453 | 642023 |
|  |  | 12653393 |
| ***Office REITs — 2.7%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brandywine Realty Trust | 5871 | 15910 |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| &nbsp;&nbsp;&nbsp;&nbsp;BXP, Inc. | 15395 | $799001 |
| &nbsp;&nbsp;&nbsp;&nbsp;COPT Defense Properties | 11467 | 350890 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cousins Properties, Inc. | 12488 | 281854 |
| &nbsp;&nbsp;&nbsp;&nbsp;Douglas Emmett, Inc. | 16456 | 155016 |
| &nbsp;&nbsp;&nbsp;&nbsp;Easterly Government Properties, Inc. | 3870 | 82934 |
| &nbsp;&nbsp;&nbsp;&nbsp;Empire State Realty Trust, Inc., Class A | 11500 | 59800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Highwoods Properties, Inc. | 12169 | 260538 |
| &nbsp;&nbsp;&nbsp;&nbsp;JBG SMITH Properties | 6335 | 92554 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kilroy Realty Corp. | 10355 | 292115 |
| &nbsp;&nbsp;&nbsp;&nbsp;NET Lease Office Properties | 1572 | 18109 |
| &nbsp;&nbsp;&nbsp;&nbsp;Peakstone Realty Trust | 1614 | 33717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Piedmont Realty Trust, Inc. \* | 12236 | 80391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Postal Realty Trust, Inc., Class A | 1457 | 27042 |
| &nbsp;&nbsp;&nbsp;&nbsp;SL Green Realty Corp. | 6966 | 257324 |
| &nbsp;&nbsp;&nbsp;&nbsp;Vornado Realty Trust | 15278 | 397075 |
|  |  | 3204270 |
| ***Residential REITs — 12.9%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Homes 4 Rent, Class A | 33305 | 929876 |
| &nbsp;&nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | 13948 | 2278406 |
| &nbsp;&nbsp;&nbsp;&nbsp;BRT Apartments Corp. | 400 | 5336 |
| &nbsp;&nbsp;&nbsp;&nbsp;Camden Property Trust | 10369 | 1012637 |
| &nbsp;&nbsp;&nbsp;&nbsp;Centerspace | 1534 | 88128 |
| &nbsp;&nbsp;&nbsp;&nbsp;Clipper Realty, Inc. | 3381 | 10211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity LifeStyle Properties, Inc. | 18727 | 1168939 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Residential | 35479 | 2098583 |
| &nbsp;&nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | 6258 | 1514436 |
| &nbsp;&nbsp;&nbsp;&nbsp;Independence Realty Trust, Inc. | 17633 | 262555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invitation Homes, Inc. | 56148 | 1395278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | 11563 | 1412074 |
| &nbsp;&nbsp;&nbsp;&nbsp;NexPoint Residential Trust, Inc. | 2313 | 57825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sun Communities, Inc. | 12041 | 1516684 |
| &nbsp;&nbsp;&nbsp;&nbsp;UDR, Inc. | 30795 | 1040255 |
| &nbsp;&nbsp;&nbsp;&nbsp;UMH Properties, Inc. | 7288 | 105166 |
| &nbsp;&nbsp;&nbsp;&nbsp;Veris Residential, Inc. | 7019 | 132448 |
|  |  | 15028837 |
| ***Retail REITs — 17.3%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Acadia Realty Trust | 12887 | 246400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Agree Realty Corp. | 12372 | 932601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Alexander's, Inc. | 87 | 20549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | 31516 | 907661 |
| &nbsp;&nbsp;&nbsp;&nbsp;CBL & Associates Properties, Inc. | 1387 | 53302 |
| &nbsp;&nbsp;&nbsp;&nbsp;Curbline Properties Corp. | 9588 | 247275 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 8296 | 881118 |
| &nbsp;&nbsp;&nbsp;&nbsp;FrontView REIT, Inc. | 1158 | 17914 |
| &nbsp;&nbsp;&nbsp;&nbsp;Getty Realty Corp. | 5433 | 172769 |
| &nbsp;&nbsp;&nbsp;&nbsp;InvenTrust Properties Corp. | 8476 | 258179 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 65799 | 1478504 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kite Realty Group Trust | 20516 | 503668 |
| &nbsp;&nbsp;&nbsp;&nbsp;Macerich Co. (The) | 26112 | 493517 |
| &nbsp;&nbsp;&nbsp;&nbsp;NETSTREIT Corp. @ | 12306 | 231722 |
| &nbsp;&nbsp;&nbsp;&nbsp;NNN REIT, Inc. | 18414 | 773941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Phillips Edison & Co., Inc. | 12315 | 460827 |
| &nbsp;&nbsp;&nbsp;&nbsp;Realty Income Corp. | 84723 | 5183353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Regency Centers Corp. | 17440 | 1319510 |
| &nbsp;&nbsp;&nbsp;&nbsp;Saul Centers, Inc. | 1365 | 44472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | 28708 | 5354903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tanger, Inc. | 10913 | 370824 |
| &nbsp;&nbsp;&nbsp;&nbsp;Urban Edge Properties | 12150 | 242757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Whitestone REIT | 4776 | 77132 |
|  |  | 20272898 |
| ***Specialized REITs — 33.8%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;American Tower Corp. | 30505 | 5264553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | 42693 | 3471368 |
| &nbsp;&nbsp;&nbsp;&nbsp;CubeSmart | 22192 | 813337 |

---

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Real Estate Securities Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited) (Continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **SHARES** | **SHARES** | **VALUE†** |
| **COMMON STOCKS (Continued)** |  |  |  |
| ***Specialized REITs (Continued)*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. |  | 30963 | $5579842 |
| &nbsp;&nbsp;&nbsp;&nbsp;EPR Properties |  | 7659 | 382644 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. |  | 6220 | 6097093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. |  | 20552 | 2694984 |
| &nbsp;&nbsp;&nbsp;&nbsp;Four Corners Property Trust, Inc. |  | 10899 | 257761 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gaming & Leisure Properties, Inc. |  | 28220 | 1252121 |
| &nbsp;&nbsp;&nbsp;&nbsp;Global Self Storage, Inc. |  | 995 | 5084 |
| &nbsp;&nbsp;&nbsp;&nbsp;Iron Mountain, Inc. |  | 29038 | 2965941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Co., Class A |  | 8889 | 1125881 |
| &nbsp;&nbsp;&nbsp;&nbsp;National Storage Affiliates Trust |  | 7272 | 274445 |
| &nbsp;&nbsp;&nbsp;&nbsp;Outfront Media, Inc. |  | 15521 | 411307 |
| &nbsp;&nbsp;&nbsp;&nbsp;Public Storage |  | 15543 | 4210288 |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA Communications Corp. |  | 10655 | 1833832 |
| &nbsp;&nbsp;&nbsp;&nbsp;VICI Properties, Inc. |  | 104805 | 2863273 |
|  |  |  | 39503754 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL COMMON STOCKS<br> (Identified Cost $69,243,456) |  |  | 116232988 |
| **SHORT-TERM INVESTMENTS — 0.9%** | **SHORT-TERM INVESTMENTS — 0.9%** | **SHORT-TERM INVESTMENTS — 0.9%** |  |
| ***Investment Company — 0.3%*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund 3.350% |  | 314943 | 314943 |
| ***Collateral For Securities On Loan — 0.6%*** | ***Collateral For Securities On Loan — 0.6%*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State Street Navigator Securities Lending Government Money Market Portfolio 3.680% |  | 689220 | 689220 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS<br> (Identified Cost $1,004,163) |  |  | 1004163 |
| **Total Investments — 100.3% <br> (Identified Cost $70,247,619)** |  |  | **117237151** |
| &nbsp;&nbsp;&nbsp;&nbsp;Liabilities in excess of Cash and Other Assets — (0.3%) |  |  | (342685) |
| **Net Assets — 100.0%** |  |  | $**116894466** |

---

---

| | |
|:---|:---|
| † | See Note 1 |
| \* | Non-income producing security |
| @ | A portion or all of the security was held on loan. As of March 31, 2026, the fair value of the securities on loan was $665,628. |

---

Key to abbreviations:

REIT — Real Estate Investment Trust

*The accompanying notes are an integral part of these portfolio of investments.*

**SA Worldwide Moderate Growth Fund**

PORTFOLIO OF INVESTMENTS — AS OF March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE†** |
| **MUTUAL FUNDS — 100.1%** |  |  |
| ***Others — 100.1%*** |  |  |
| &nbsp;&nbsp;&nbsp;SA Emerging Markets Value Fund € | 116170 | $1468391 |
| &nbsp;&nbsp;&nbsp;SA Global Fixed Income Fund € | 390200 | 3398638 |
| &nbsp;&nbsp;&nbsp;SA International Value Fund € | 249885 | 4572894 |
| &nbsp;&nbsp;&nbsp;SA Real Estate Securities Fund € | 60100 | 679733 |
| &nbsp;&nbsp;&nbsp;SA U.S. Core Market Fund € | 93497 | 3737069 |
| &nbsp;&nbsp;&nbsp;SA U.S. Fixed Income Fund € | 353225 | 3401559 |
| &nbsp;&nbsp;&nbsp;SA U.S. Small Company Fund € | 46704 | 1534682 |
| &nbsp;&nbsp;&nbsp;SA U.S. Value Fund € | 149984 | 3847093 |
|  |  | 22640059 |
| &nbsp;&nbsp;&nbsp;TOTAL MUTUAL FUNDS<br>(Identified Cost $17,610,667) |  | 22640059 |
| **Total Investments — 100.1%<br> (Identified Cost $17,610,667)** |  | **22640059** |
| &nbsp;&nbsp;&nbsp;Liabilities in excess of Cash and Other Assets — (0.1%) | &nbsp;&nbsp;&nbsp;Liabilities in excess of Cash and Other Assets — (0.1%) | (17588) |
| **Net Assets — 100.0%** |  | $**22622471** |

---

&nbsp;&nbsp;&nbsp;&nbsp;† See Note 1

€ SA Worldwide Moderate Growth Fund invests substantially all of its assets in the affiliated Underlying SA Funds.

*The accompanying notes are an integral part of these portfolio of investments.*

SA FUNDS

NOTES TO FINANCIAL STATEMENTS – March 31, 2026 (Unaudited)

**Security Valuation** — Domestic equity securities listed on an exchange or stock market for which market quotations are readily available are valued according to the official closing price, if any, or at their last reported sale price on the exchange or stock market where the security is primarily traded, or in the absence of such reported prices, at the mean between the most recent quoted bid and asked prices. Domestic equity securities traded on the over-the-counter markets are valued at the mean between the most recent quoted bid and asked prices in the absence of an official closing price or last reported sale price.

Foreign equity securities traded on a foreign exchange or over-the-counter markets are generally valued at the most recent quoted bid price in the absence of an official closing price or last reported sale price. Foreign securities quoted in foreign currencies are translated into U.S. dollars using prevailing exchange rates.

Fixed income investments are generally valued based on prices received from independent pricing services. In determining the value of a fixed income investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrixes, market transactions in comparable investments, various relationships observed in the market between investments and calculated yield measures.

Shares of registered open-end investment companies are valued at the investment company's net asset value. Forward currency contracts are valued based on prices received from independent pricing services. Securities for which market quotations are not readily available, or for which available quotations appear to accurately reflect the current value of an investment, are valued at fair value as determined in good faith by the valuation designee ("Valuation Designee") appointed by the Board of Trustees (the "Board" or "Trustees") pursuant to procedures approved by the Board of Trustees. The Board of Trustees has designated Focus Partners Advisor Solutions, LLC (the "Adviser") as the Valuation Designee for the Funds.

Certain Funds hold securities traded in foreign markets. Foreign securities are valued at the latest market price in the foreign market. However, if events occurring after the close of the foreign market (but before the close of regular trading on the New York Stock Exchange) are believed to materially affect the value of those securities, such securities may be valued at fair value as determined in good faith by the Valuation Designee.

**Fair Value Measurement** — The Board has adopted procedures to fair value securities and other assets of each Fund when market prices are not readily available or do not accurately reflect their current market value. The Board has designated the responsibility for applying these fair valuation methods to the Valuation Designee. For example, a Fund may fair value an asset when it is delisted or trading is halted or suspended; when it has not been traded for an extended period of time; when its primary pricing source is unavailable or other data calls the primary source's reliability into question; or when its primary trading market is closed during regular U.S. market hours. Each Fund makes fair valuation determinations in accordance with the Trust's Procedures for Valuing Securities and Assets, as amended. The Valuation Designee may consider various factors, including unobservable market inputs when arriving at fair value. The Valuation Designee may use, but is not limited to, techniques such as review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book value, and other relevant information when determining fair value. The Valuation Designee regularly reviews these inputs and assumptions when reviewing fair valuations of investments held by the Funds. Fair value pricing involves subjective judgement and it is possible that the fair value determined for an asset is materially different than the value that could be realized upon the sale of that asset. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds value their investments based on a three-level hierarchy of inputs that establishes classification of fair value measurements for disclosure purposes. If inputs used to measure a financial instrument fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. The three-level hierarchy of inputs is summarized in the three broad levels below.

SA FUNDS

NOTES TO FINANCIAL STATEMENTS – March 31, 2026 (Unaudited) (Continued)

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

Level 2 – significant observable inputs other than quoted prices within Level 1 (including quoted prices for similar investments, interest rates, yield curves, foreign exchange rates, put or call provisions, credit risk and default rates for similar securities).

Level 3 – significant unobservable inputs to the extent that observable inputs are not available (including the Pricing Committee or Valuation Designee's own assumptions used to determine the fair value of investments).

The tables below provide a summary of the inputs as of March 31, 2026, in valuing each Fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investments in Securities** | **Investments in Securities** | **Investments in Securities** | |
| <br>**Description** | **Unadjusted<br> Quoted Prices in <br> Active Markets <br> for Identical <br> Investments <br> (Level 1)** | **Significant <br> Other<br> Observable <br> Inputs <br> (Level 2)** | **Significant <br> Unobservable <br> Inputs <br> (Level 3)** |<br>**Total Fair Value<br> as of <br> March 31, 2026** |
| **SA U.S. Fixed Income Fund** | | | | |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Yankee Corporate Bonds And Notes | $— | $62830653 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $62830653 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds and Notes |  | 246501546 |  | 246501546 |
| &nbsp;&nbsp;&nbsp;U.S. Government & Agency Obligations |  | 139270666 |  | 139270666 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 2698692 |  |  | 2698692 |
| &nbsp;&nbsp;&nbsp;Total Investments | $2698692 | $448602865 | $— | $451301557 |
| **SA Global Fixed Income Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds and Notes | $— | $534280317 | $— | $534280317 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 4577570 |  |  | 4577570 |
| &nbsp;&nbsp;&nbsp;Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts |  | 3755570 |  | 3755570 |
| &nbsp;&nbsp;&nbsp;Total Investments | $4577570 | $538035887 | $— | $542613457 |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forward Foreign Currency Exchange Contracts | $— | $(277221) | $— | $(277221) |
| **SA U.S. Core Market Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $635144227 | $— | $0 | $635144227 |
| &nbsp;&nbsp;&nbsp;Mutual Funds | 30208301 |  |  | 30208301 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 1799355 |  |  | 1799355 |
| &nbsp;&nbsp;&nbsp;Total Investments | $667151883 | $— | $0 | $667151883 |

---

SA FUNDS

NOTES TO FINANCIAL STATEMENTS – March 31, 2026 (Unaudited) (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investments in Securities** | **Investments in Securities** | **Investments in Securities** | |
| <br>**Description** | **Unadjusted<br> Quoted Prices in <br> Active Markets <br> for Identical <br> Investments <br> (Level 1)** | **Significant <br> Other <br> Observable <br> Inputs <br> (Level 2)** | **Significant <br> Unobservable <br> Inputs <br> (Level 3)** |<br>**Total Fair Value <br> as of <br> March 31, 2026** |
| **SA U.S. Value Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $576242160 | $&nbsp;&nbsp;&nbsp;&nbsp;— | $— | $576242160 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 1027911 |  |  | 1027911 |
| &nbsp;&nbsp;&nbsp;Total Investments | $577270071 | $— | $— | $577270071 |
| **SA U.S. Small Company Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $313494925 | $— | $11349 | $313506274 |
| &nbsp;&nbsp;&nbsp;Rights and Warrants | 517 |  |  | 517 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 2158465 |  |  | 2158465 |
| &nbsp;&nbsp;&nbsp;Total Investments | $315653907 | $— | $11349 | $315665256 |
| **SA International Value Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $604357940 | $— | $— | $604357940 |
| &nbsp;&nbsp;&nbsp;Preferred Stocks | 3405768 |  |  | 3405768 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 13148546 |  |  | 13148546 |
| &nbsp;&nbsp;&nbsp;Total Investments | $620912254 | $— | $— | $620912254 |
| **SA International Small Company Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mutual Funds | $276426955 | $— | $— | $276426955 |
| &nbsp;&nbsp;&nbsp;Total Investments | $276426955 | $— | $— | $276426955 |
| **SA Emerging Markets Value Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $214786498 | $54794 | $0† | $214841292 |
| &nbsp;&nbsp;&nbsp;Preferred Stocks | 2398533 |  |  | 2398533 |
| &nbsp;&nbsp;&nbsp;Rights and Warrants | 542 |  |  | 542 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 984832 |  |  | 984832 |
| &nbsp;&nbsp;&nbsp;Total Investments | $218170405 | $54794 | $0 | $218225199 |
| **SA Real Estate Securities Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $116232988 | $— | $— | 116232988 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | 1004163 |  |  | 1004163 |
| &nbsp;&nbsp;&nbsp;Total Investments | $117237151 | $— | $— | $117237151 |

---

SA FUNDS

NOTES TO FINANCIAL STATEMENTS – March 31, 2026 (Unaudited) (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investments in Securities** | **Investments in Securities** | **Investments in Securities** | |
| <br>**Description** | **Unadjusted <br> Quoted Prices in <br> Active Markets <br> for Identical <br> Investments <br> (Level 1)** | **Significant <br> Other <br> Observable <br> Inputs <br> (Level 2)** | **Significant <br> Unobservable <br> Inputs <br> (Level 3)** |<br>**Total Fair Value<br> as of <br> March 31, 2026** |
| **SA Worldwide Moderate Growth Fund** |  |  |  |  |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mutual Funds | $22640059 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $22640059 |
| &nbsp;&nbsp;&nbsp;Total Investments | $22640059 | $— | $— | $22640059 |

---

*† Contains securities with a market value of zero.*

A reconciliation in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 assets and/or liabilities at the beginning and/or end of the period. There were no significant Level 3 assets and/or liabilities held at the beginning or end of the period.

**Securities Lending** – The Funds may lend any of their securities held by State Street Bank and Trust Company ("State Street") as custodian to certain qualified broker-dealers, banks and other institutions, except those securities which the Adviser or Dimensional Fund Advisor LP (the "Sub-Adviser") specifically identifies as not being available. Any gain or loss in the fair price of the securities loaned that might occur and any interest or dividends declared during the term of the loan would accrue to the account of the Funds. Risks of delay in recovery of the securities or even loss of rights in the collateral may occur should the borrower of the securities fail financially. Risks may also arise to the extent that the value of the collateral decreases below the value of the securities loaned.

Upon entering into a securities lending transaction, a Fund maintains cash or other securities as collateral in an amount equal to or exceeding 100% of the current fair value of the loaned securities with respect to securities of the U.S. government or its agencies or instrumentalities, a loan of sovereign debt issued by non-U.S. governments, or a loan of non-U.S. corporate debt, 102% of the current fair value of the loaned securities with respect to other U.S. securities and 105% of the current fair value of the loaned securities with respect to foreign equity securities. The fair value of the loaned security is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund, or excess collateral is returned by the Fund, on the next business day. Any cash received as collateral is generally invested by State Street, acting in its capacity as securities lending agent (the "Agent"), in the State Street Navigator Securities Lending Government Money Market Portfolio, which is a money market fund registered under the 1940 Act. A portion of the income received on the collateral is rebated to the borrower of the securities, and the remainder is split between the Agent and each respective Fund.

As of March 31, 2026, the following Funds had securities on loan, which were collateralized by short-term investments. The value of securities on loan and the value of the related collateral were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Value of<br> Securities** | **Value of Cash<br> Collateral** | **Value of Non-<br> Cash<br> Collateral\*** | **Total<br> Collateral** |
| SA Global Fixed Income Fund | $300631 | $306750 | $— | $306750 |
| SA U.S Core Market Fund | 1053720 | 132338 | 941509 | 1073847 |
| SA U.S. Value Fund | 1189478 | 85758 | 1132570 | 1218328 |
| SA U.S. Small Company Fund | 7729274 | 1309954 | 6585390 | 7895344 |

---

SA FUNDS

NOTES TO FINANCIAL STATEMENTS – March 31, 2026 (Unaudited) (Continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Value of<br> Securities** | **Value of Cash<br> Collateral** | **Value of Non-<br> Cash<br> Collateral\*** | **Total<br> Collateral** |
| SA International Value Fund | $59682810 | $12163413 | $50045232 | $62208645 |
| SA Emerging Markets Value Fund | 5256650 | 666769 | 4883516 | 5550285 |
| SA Real Estate Securities Fund | 665628 | 689220 |  | 689220 |

---

 

*\*The Funds cannot repledge or resell this collateral. The non-cash collateral is comprised of U.S. government securities.*

The following table provides increased transparency about the types of collateral pledged for securities lending transactions that are accounted for as secured borrowing. Non-cash collateral is not reflected in the table because the Funds cannot repledge or resell this collateral.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** |
| <br>**Securities Lending Transaction <sup>(1)</sup>** | **Overnight and<br> Continuous** | **<30 days** | **Between <br> 30 & 90 days** | **>90 days** | **Total** |
| **SA Global Fixed Income Fund** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Government Money Market | $306750 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $306750 |
| **Total Borrowings** | $**306750** | $**—** | $— | $— | $**306750** |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $306750 |
| **SA U.S. Core Market Fund** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Government Money Market | $132338 | $— | $— | $— | $132338 |
| **Total Borrowings** | $**132338** | $**—** | $— | $— | $**132338** |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $132338 |
| **SA U.S. Value Fund** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Government Money Market | $85759 | $— | $— | $— | $85759 |
| **Total Borrowings** | $**85759** | $**—** | $— | $— | $**85759** |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $85759 |
| **SA U.S. Small Company Fund** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Government Money Market | $1309954 | $— | $— | $— | $1309954 |
| **Total Borrowings** | $**1309954** | $**—** | $**—** | $**—** | $**1309954** |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $1309954 |
| **SA International Value Fund** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Government Money Market | $12163413 | $— | $— | $— | $12163413 |
| **Total Borrowings** | $**12163413** | $**—** | $**—** | $**—** | $**12163413** |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $12163413 |

---

SA FUNDS

NOTES TO FINANCIAL STATEMENTS – March 31, 2026 (Unaudited) (Continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** | **Remaining Contractual Maturity of the Agreements<br> As of March 31, 2026** |
| <br>**Securities Lending Transaction <sup>(1)</sup>** | **Overnight and <br> Continuous** | **<30 days** | **Between<br> 30 & 90 days** | **>90 days** | **Total** |
| **SA Emerging Markets Value Fund** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Government Money Market | $666769 | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $666769 |
| **Total Borrowings** | $**666769** | $**—** | $**—** | $**—** | $**666769** |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $666769 |
| **SA Real Estate Securities Fund** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Government Money Market | $689220 | $— | $— | $— | $689220 |
| **Total Borrowings** | $**689220** | $**—** | $**—** | $**—** | $**689220** |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $689220 |

---

<sup>(1)</sup> *Amounts represent the payable for cash collateral received on securities on loan. This will generally be in the "Overnight and Continuous" column as the securities are typically callable on demand. The payable will be allocated into categories of securities based on the market value of the securities on loan.*

**Foreign Currency Translation and Foreign Investments** — The books and records of the Funds are maintained in U.S. dollars. The value of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign currency exchange rates prevailing at the end of the period. Purchases and sales of investment securities are translated at contractual currency exchange rates established at the time of the trade. Income and expenses are translated at prevailing exchange rates on the respective dates of such transactions.

The results of operations resulting from changes in foreign exchange rates on investments are not reported separately from fluctuations arising from changes in market prices of securities held. All such fluctuations are included with net realized and unrealized gain or loss on investments. Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds' books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period-end, resulting from changes in exchange rates.

Investing in foreign securities may involve certain sovereign and other risks, in addition to the credit and market risks normally associated with domestic securities. Investments in foreign securities are subject to fluctuations in currency exchange rates, which may negatively affect the value of a Fund's portfolio. Additional risks may include exposure to less developed or less efficient trading markets; social, political or economic instability; nationalization of assets, currency controls or redenomination; changes in tax policy; high transaction costs; settlement, custodial or other operation risks; and less stringent accounting, auditing, financial reporting, and legal standards and practices. As a result, foreign securities can fluctuate more widely in price, and may also be less liquid, than comparable U.S. securities.

**Forward Foreign Currency Exchange Contracts** — Each Fund that may invest in foreign securities may enter into forward foreign currency exchange contracts. A forward foreign currency exchange contract is an agreement between two parties to buy or sell currency at a set price on a future date. By entering into a forward contract for the purchase or sale for a fixed amount of dollars of the amount of foreign currency involved in an underlying security transaction, a Fund may be able to protect itself against a possible loss resulting from an adverse change in the relationship between the U.S. dollar and the applicable foreign currency during the period between the date the security is purchased or sold and the date on which payment is made or received.

SA FUNDS

NOTES TO FINANCIAL STATEMENTS – March 31, 2026 (Unaudited) (Continued)

The market value of a contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market daily using the 4:00 PM Eastern Time pricing for the forward currency exchange rate, and the change in market value is recorded as unrealized appreciation (depreciation) on foreign currency and forward currency transactions in a fund's statement of assets and liabilities. When the contract is closed, a realized gain or loss is recognized, which is equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, and recorded as realized gain (loss) on foreign currency and forward currency transactions in a fund's statement of operations.

Forward foreign currency exchange contracts may involve risks from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

**Federal Income Tax —** At March 31, 2026, the aggregate cost of investment securities, aggregate gross unrealized appreciation (depreciation) and net unrealized appreciation (depreciation) for all securities, including forward foreign currency exchange contracts, as computed on a federal income tax basis for each fund were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Cost** | **Unrealized**<br> **Appreciation** | **Unrealized**<br> **Depreciation** | **Net Unrealized**<br> **Appreciation**<br> **(Depreciation)** |
| SA U.S. Fixed Income Fund | $449210725 | $2720634 | $(629802) | $2090832 |
| SA Global Fixed Income Fund | 535808420 | 9061666 | (2533850) | 6527816 |
| SA U.S. Core Market Fund | 106919907 | 560895902 | (663926) | 560231976 |
| SA U.S. Value Fund | 317480941 | 280513479 | (20724349) | 259789130 |
| SA U.S. Small Company Fund | 144153557 | 180190705 | (8679006) | 171511699 |
| SA International Value Fund | 357095446 | 270458660 | (6641852) | 263816808 |
| SA International Small Company Fund | 105826244 | 170600711 |  | 170600711 |
| SA Emerging Markets Value Fund | 154103734 | 82675330 | (18553865) | 64121465 |
| SA Real Estate Securities Fund | 70247619 | 49559811 | (2570279) | 46989532 |
| SA Worldwide Moderate Growth Fund | 17610667 | 5029392 |  | 5029392 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SA FUNDS INVESTMENT TRUST

- **b. Investment Company Act file number:** 811-09195

- **c. CIK number of Registrant:** 0001075065

- **d. LEI of Registrant:** 549300JT43J3I1034E48

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

  - **Street Address 1:** 190 Carondelet Plaza

  - **City:** St. Louis

  - **State:** MO

  - **Foreign country:** US

  - **Zip / Postal Code:** 63105

  - **Telephone number:** 8443660905

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

- **a. Name of Series:** SA U.S. Value Fund

- **b. EDGAR series identifier (if any):** S000008778

- **c. LEI of Series:** 5493000NRYHBSFVPGI82

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $578654713.08

**Total Liabilities:** $533230.89

**Net Assets:** $578121482.19

**Cash Not Reported:** $275591.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023893 | 5.04%                | 3.37%                | -3.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5796796.00              | $21985683.20                               |
| Month 2  | $5910647.48              | $13141015.44                               |
| Month 3  | $6907031.27              | $-31378844.92                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aflac Inc                                  | Aflac Inc                                                                   | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |     32730 | NS      | $3590808.30   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                   | AT&T Inc                                                                    | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    287354 | NS      | $8330392.46   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                        | Abbott Laboratories                                                         | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     35000 | NS      | $3593450.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                 | Advanced Micro Devices Inc                                                  | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     12020 | NS      | $2445228.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc                   | Agilent Technologies Inc                                                    | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      4406 | NS      | $502195.88    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc             | Air Products and Chemicals Inc                                              | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      8304 | NS      | $2412228.96   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies Inc                    | Akamai Technologies Inc                                                     | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      1649 | NS      | $189387.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The                          | Allstate Corp/The                                                           | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      8826 | NS      | $1829982.84   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc                         | Ally Financial Inc                                                          | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |     10944 | NS      | $429333.12    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                             | Amazon.com Inc                                                              | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     51011 | NS      | $10624060.97  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co                          | U-Haul Holding Co                                                           | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |      1815 | NS      | $86720.70     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| U-Haul Holding Co                          | U-Haul Holding Co                                                           | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |     11881 | NS      | $530724.27    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc           | American International Group Inc                                            | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     29118 | NS      | $2191129.50   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                                 | AMETEK Inc                                                                  | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      6575 | NS      | $1409417.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                         | Analog Devices Inc                                                          | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     12440 | NS      | $3957661.60   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                        | Elevance Health Inc                                                         | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      9306 | NS      | $2724331.50   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                    | Aramark                                                                     | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |     16117 | NS      | $653383.18    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co                  | Archer-Daniels-Midland Co                                                   | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     23803 | NS      | $1730240.07   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                            | Baker Hughes Co                                                             | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54341 | NS      | $3317518.05   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                                  | Ball Corp                                                                   | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |      6731 | NS      | $397869.41    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                       | Bank of America Corp                                                        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     90136 | NS      | $4394130.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/The           | Bank of New York Mellon Corp/The                                            | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     35048 | NS      | $4157744.24   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                      | Becton Dickinson & Co                                                       | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     13484 | NS      | $2120089.32   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                           | W R Berkley Corp                                                            | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      6200 | NS      | $410936.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc                     | Berkshire Hathaway Inc                                                      | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     25243 | NS      | $12096445.60  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                 | Biogen Inc                                                                  | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      3878 | NS      | $710953.74    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner Inc                             | BorgWarner Inc                                                              | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     24241 | NS      | $1315316.66   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                     | Boston Scientific Corp                                                      | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     18095 | NS      | $1135461.25   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                    | Bristol-Myers Squibb Co                                                     | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     51925 | NS      | $3149251.25   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                   | Builders FirstSource Inc                                                    | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      4516 | NS      | $371802.28    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                             | CBRE Group Inc                                                              | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     19100 | NS      | $2587286.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc                 | CF Industries Holdings Inc                                                  | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      6602 | NS      | $857203.68    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                            | Cigna Group/The                                                             | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     16977 | NS      | $4528614.75   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                                   | CSX Corp                                                                    | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     96197 | NS      | $3948886.85   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                            | CVS Health Corp                                                             | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     56765 | NS      | $4076862.30   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                         | Coterra Energy Inc                                                          | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     19923 | NS      | $700094.22    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp                 | Capital One Financial Corp                                                  | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     11831 | NS      | $2158329.33   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                              | Carnival Corp                                                               | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |     34226 | NS      | $885768.88    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp                        | Carrier Global Corp                                                         | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     22435 | NS      | $1263314.85   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc                 | Casey's General Stores Inc                                                  | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      1143 | NS      | $831943.98    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                               | Centene Corp                                                                | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     19196 | NS      | $628477.04    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc                 | Charter Communications Inc                                                  | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      3930 | NS      | $848408.40    | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Cheniere Energy Inc                        | Cheniere Energy Inc                                                         | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       929 | NS      | $263613.04    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                               | Chevron Corp                                                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49580 | NS      | $10258102.00  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc                     | Church & Dwight Co Inc                                                      | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |       483 | NS      | $45073.56     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cincinnati Financial Corp                  | Cincinnati Financial Corp                                                   | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |       370 | NS      | $58219.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                          | Cisco Systems Inc                                                           | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    130988 | NS      | $10163358.92  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                              | Citigroup Inc                                                               | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     39630 | NS      | $4494438.30   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc               | Citizens Financial Group Inc                                                | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     15595 | NS      | $935232.15    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp        | Cognizant Technology Solutions Corp                                         | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     34305 | NS      | $2104611.75   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                               | Comcast Corp                                                                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    202907 | NS      | $5825459.97   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                         | Conagra Brands Inc                                                          | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |      8302 | NS      | $130507.44    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                             | ConocoPhillips                                                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     61108 | NS      | $8066256.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc                   | Constellation Brands Inc                                                    | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |     10451 | NS      | $1567650.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                 | Copart Inc                                                                  | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     14582 | NS      | $484122.40    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                                | Corning Inc                                                                 | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |     20213 | NS      | $2748361.61   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                                | Corteva Inc                                                                 | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     18513 | NS      | $1549723.23   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                                | Cummins Inc                                                                 | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      8496 | NS      | $4571017.92   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                              | DR Horton Inc                                                               | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     23543 | NS      | $3230570.46   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| DXC Technology Co                          | DXC Technology Co                                                           | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               | CORP              | US        |      2868 | NS      | $36050.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                               | Danaher Corp                                                                | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     16625 | NS      | $3152100.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                 | Deere & Co                                                                  | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      6907 | NS      | $3890713.10   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                      | Dell Technologies Inc                                                       | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |       861 | NS      | $141315.93    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc                        | Delta Air Lines Inc                                                         | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     37883 | NS      | $2518461.84   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                          | Devon Energy Corp                                                           | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     27320 | NS      | $1374742.40   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                     | Diamondback Energy Inc                                                      | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      9017 | NS      | $1783472.43   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods Inc                  | Dick's Sporting Goods Inc                                                   | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |      1230 | NS      | $243896.70    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Walt Disney Co/The                         | Walt Disney Co/The                                                          | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     21229 | NS      | $2046051.02   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp                        | Dollar General Corp                                                         | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      4555 | NS      | $540815.15    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                            | Dollar Tree Inc                                                             | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     11066 | NS      | $1211837.66   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp                                 | Dover Corp                                                                  | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      6916 | NS      | $1441640.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc                      | DuPont de Nemours Inc                                                       | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     10913 | NS      | $499815.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                          | EOG Resources Inc                                                           | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     26723 | NS      | $3863344.11   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                                   | EQT Corp                                                                    | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      7594 | NS      | $483282.16    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                      | East West Bancorp Inc                                                       | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |      2390 | NS      | $255156.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Co                        | Eastman Chemical Co                                                         | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |     11080 | NS      | $845625.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp                  | Edwards Lifesciences Corp                                                   | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      7417 | NS      | $593953.36    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc                        | Electronic Arts Inc                                                         | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      9241 | NS      | $1883962.67   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co                        | Emerson Electric Co                                                         | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     25047 | NS      | $3281657.94   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                | Equifax Inc                                                                 | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      2560 | NS      | $460979.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G Annuities & Life Inc                   | F&G Annuities & Life Inc                                                    | CUSIP: 30190A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       193 | NS      | $4886.76      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                           | Exxon Mobil Corp                                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    138879 | NS      | $23562211.14  | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                                 | FedEx Corp                                                                  | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     14843 | NS      | $5286779.74   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                                     | F5 Inc                                                                      | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |       869 | NS      | $251427.77    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc | Fidelity National Information Services Inc                                  | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     27979 | NS      | $1312494.89   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial Inc            | Fidelity National Financial Inc                                             | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |      1515 | NS      | $70265.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                        | Fifth Third Bancorp                                                         | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     68407 | NS      | $3178189.22   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/NC           | First Citizens BancShares Inc/NC                                            | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       153 | NS      | $288352.98    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                            | First Solar Inc                                                             | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |       843 | NS      | $166290.18    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                                 | Fiserv Inc                                                                  | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     11916 | NS      | $664912.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                              | Ford Motor Co                                                               | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |    179189 | NS      | $2067841.06   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp                               | Fortive Corp                                                                | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |      7311 | NS      | $404152.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc             | Fortune Brands Innovations Inc                                              | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |      7486 | NS      | $291729.42    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                   | Fox Corp                                                                    | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     23101 | NS      | $1349098.40   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                   | Fox Corp                                                                    | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     14510 | NS      | $770481.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources Inc                     | Franklin Resources Inc                                                      | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |      5210 | NS      | $123060.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc                       | Freeport-McMoRan Inc                                                        | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     86590 | NS      | $5089760.20   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc             | GE HealthCare Technologies Inc                                              | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     24661 | NS      | $1755369.98   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp                      | General Dynamics Corp                                                       | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      7826 | NS      | $2686039.72   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc                          | General Mills Inc                                                           | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     38095 | NS      | $1417895.90   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                          | General Motors Co                                                           | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     73732 | NS      | $5493034.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co                           | Genuine Parts Co                                                            | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |      2990 | NS      | $316192.50    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                        | Gilead Sciences Inc                                                         | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     12981 | NS      | $1809161.97   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                        | Global Payments Inc                                                         | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |      7128 | NS      | $479714.40    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The                | Goldman Sachs Group Inc/The                                                 | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      6443 | NS      | $5450713.57   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                           | HF Sinclair Corp                                                            | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |       471 | NS      | $29385.69     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                                     | HP Inc                                                                      | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      4715 | NS      | $90575.15     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                             | Halliburton Co                                                              | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     10538 | NS      | $410876.62    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/The           | Hartford Insurance Group Inc/The                                            | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     36014 | NS      | $4870173.22   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co              | Hewlett Packard Enterprise Co                                               | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |    141847 | NS      | $3377377.07   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                | Hubbell Inc                                                                 | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       624 | NS      | $306221.76    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                 | Humana Inc                                                                  | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      6723 | NS      | $1165700.97   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH               | Huntington Bancshares Inc/OH                                                | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     72900 | NS      | $1140885.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp                          | Hyatt Hotels Corp                                                           | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |       643 | NS      | $92456.97     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corp                                | Incyte Corp                                                                 | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |      1784 | NS      | $167910.08    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                         | Ingersoll Rand Inc                                                          | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |     11262 | NS      | $902311.44    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                                 | Intel Corp                                                                  | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     68056 | NS      | $3003311.28   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc              | Intercontinental Exchange Inc                                               | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      3517 | NS      | $553153.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| International Flavors & Fragrances Inc     | International Flavors & Fragrances Inc                                      | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      5249 | NS      | $380814.95    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                     | International Paper Co                                                      | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |     24693 | NS      | $881540.10    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                         | IQVIA Holdings Inc                                                          | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |      5406 | NS      | $921939.24    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                        | JPMorgan Chase & Co                                                         | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     86515 | NS      | $25449252.40  | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc                       | Jacobs Solutions Inc                                                        | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |      4173 | NS      | $531139.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc              | Jefferies Financial Group Inc                                               | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |      3256 | NS      | $134375.12    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                          | Johnson & Johnson                                                           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     67019 | NS      | $16382124.36  | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc                     | Jones Lang LaSalle Inc                                                      | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      1211 | NS      | $368531.52    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                                 | Kenvue Inc                                                                  | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    113017 | NS      | $1948413.08   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                       | Keurig Dr Pepper Inc                                                        | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     27263 | NS      | $717834.79    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                    | KeyCorp                                                                     | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |     33936 | NS      | $680416.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                  | Keysight Technologies Inc                                                   | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |       618 | NS      | $174504.66    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc                          | Kinder Morgan Inc                                                           | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     75243 | NS      | $2522897.79   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The                         | Kraft Heinz Co/The                                                          | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     20920 | NS      | $470490.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                              | Kroger Co/The                                                               | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     41321 | NS      | $2989987.56   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                                   | LKQ Corp                                                                    | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     22668 | NS      | $665759.16    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc                  | L3Harris Technologies Inc                                                   | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      6055 | NS      | $2089883.25   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc                       | Labcorp Holdings Inc                                                        | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11532 | NS      | $3076852.92   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                        | Leidos Holdings Inc                                                         | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     16200 | NS      | $2519424.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                                | Lennar Corp                                                                 | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     19726 | NS      | $1713005.84   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                                | Lennar Corp                                                                 | CUSIP: 526057302<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |       573 | NS      | $48200.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Formula One     | Liberty Media Corp-Liberty Formula One                                      | CUSIP: 531229755<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2194 | NS      | $186533.88    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Formula One     | Liberty Media Corp-Liberty Formula One                                      | CUSIP: 531229771<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1097 | NS      | $85653.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp                      | Lincoln National Corp                                                       | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |      9516 | NS      | $337818.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Loews Corp                                 | Loews Corp                                                                  | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |      5847 | NS      | $624108.78    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                              | M&T Bank Corp                                                               | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |      3759 | NS      | $777060.48    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                  | MGM Resorts International                                                   | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |      2440 | NS      | $90304.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp                    | Marathon Petroleum Corp                                                     | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     21915 | NS      | $5351204.70   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                           | Markel Group Inc                                                            | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       116 | NS      | $222032.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc              | Martin Marietta Materials Inc                                               | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      4136 | NS      | $2434780.48   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                     | Marvell Technology Inc                                                      | CUSIP: 573874104<br>LEI: 254900WVU0BM7ZCJ9E93 | Long             | EC               | CORP              | US        |      6371 | NS      | $631047.55    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| McCormick & Co Inc/MD                      | McCormick & Co Inc/MD                                                       | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |      1921 | NS      | $96895.24     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                             | Merck & Co Inc                                                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     36097 | NS      | $4342108.13   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                                | MetLife Inc                                                                 | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     22858 | NS      | $1616517.76   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc                      | Micron Technology Inc                                                       | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     42701 | NS      | $14426105.84  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc                 | Mondelez International Inc                                                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     51728 | NS      | $2981601.92   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                                                              | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     31663 | NS      | $5210779.91   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                    | NVR Inc                                                                     | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        23 | NS      | $151566.09    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                               | Newmont Corp                                                                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     42413 | NS      | $4591207.25   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp                                  | News Corp                                                                   | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |      8320 | NS      | $207417.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp                                  | News Corp                                                                   | CUSIP: 65249B208<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |        30 | NS      | $855.30       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                   | NIKE Inc                                                                    | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      1375 | NS      | $72627.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp                      | Norfolk Southern Corp                                                       | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |     14303 | NS      | $4104961.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corp                        | Northern Trust Corp                                                         | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |       938 | NS      | $130916.66    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp                      | Northrop Grumman Corp                                                       | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      4864 | NS      | $3318415.36   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital Inc                            | Gen Digital Inc                                                             | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |      3129 | NS      | $58919.07     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                                 | Nucor Corp                                                                  | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     22499 | NS      | $3804580.90   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp                  | Occidental Petroleum Corp                                                   | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     38793 | NS      | $2521545.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Corp            | Old Republic International Corp                                             | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |      5321 | NS      | $212307.90    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                          | Omnicom Group Inc                                                           | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      7510 | NS      | $565578.10    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                      | ON Semiconductor Corp                                                       | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     10923 | NS      | $676352.16    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                                  | ONEOK Inc                                                                   | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     21376 | NS      | $1932176.64   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp                               | Oshkosh Corp                                                                | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |       984 | NS      | $144854.64    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp                        | Otis Worldwide Corp                                                         | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     23695 | NS      | $1826410.60   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                              | Owens Corning                                                               | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      3518 | NS      | $380717.96    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc/The       | PNC Financial Services Group Inc/The                                        | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     11566 | NS      | $2406768.94   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc                         | PPG Industries Inc                                                          | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |      8879 | NS      | $948987.52    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                                 | PACCAR Inc                                                                  | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     30280 | NS      | $3497340.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp of America                  | Packaging Corp of America                                                   | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      2898 | NS      | $615013.56    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Skydance Corp                    | Paramount Skydance Corp                                                     | CUSIP: 69932A204<br>LEI: 529900B6VAJG54Y9QF02 | Long             | EC               | CORP              | US        |      9989 | NS      | $90100.78     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                        | PayPal Holdings Inc                                                         | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     28978 | NS      | $1310674.94   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                 | Pfizer Inc                                                                  | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    209620 | NS      | $5886129.60   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                | Phillips 66                                                                 | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     11349 | NS      | $2067560.82   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Group Inc                     | T Rowe Price Group Inc                                                      | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |      1285 | NS      | $115829.90    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group Inc              | Principal Financial Group Inc                                               | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |     26311 | NS      | $2370884.21   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                    | Procter & Gamble Co/The                                                     | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     21643 | NS      | $3126114.92   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                       | Progressive Corp/The                                                        | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      1680 | NS      | $333043.20    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial Inc                   | Prudential Financial Inc                                                    | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |     20923 | NS      | $2043967.87   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                             | PulteGroup Inc                                                              | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30384 | NS      | $3573462.24   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                                  | Qorvo Inc                                                                   | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |      8449 | NS      | $653952.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics Inc                      | Qnity Electronics Inc                                                       | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |      5456 | NS      | $629513.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                               | QUALCOMM Inc                                                                | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     18205 | NS      | $2344439.90   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                      | Quest Diagnostics Inc                                                       | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     18589 | NS      | $3643072.22   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralliant Corp                              | Ralliant Corp                                                               | CUSIP: 750940108<br>LEI: 52990024QKO4DYT8N464 | Long             | EC               | CORP              | US        |      2437 | NS      | $101354.83    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc                | Raymond James Financial Inc                                                 | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |      4361 | NS      | $631429.19    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                                   | RTX Corp                                                                    | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     36091 | NS      | $6961953.90   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc              | Regeneron Pharmaceuticals Inc                                               | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      3232 | NS      | $2497172.48   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp                     | Regions Financial Corp                                                      | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    103340 | NS      | $2699240.80   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                               | Reliance Inc                                                                | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      1561 | NS      | $474419.12    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services Inc                      | Republic Services Inc                                                       | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      9365 | NS      | $2051122.30   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                                 | ResMed Inc                                                                  | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      3091 | NS      | $693867.68    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                     | Roper Technologies Inc                                                      | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      1163 | NS      | $411539.18    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                             | Royal Gold Inc                                                              | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |       725 | NS      | $184505.25    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc             | SS&C Technologies Holdings Inc                                              | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      7467 | NS      | $504545.19    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                             | Salesforce Inc                                                              | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     19631 | NS      | $3664518.77   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandisk Corp/DE                            | Sandisk Corp/DE                                                             | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5006 | NS      | $3180512.04   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein Inc                           | Henry Schein Inc                                                            | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |      3777 | NS      | $278364.90    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                                    | SLB Ltd                                                                     | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     63362 | NS      | $3256173.18   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc                     | Skyworks Solutions Inc                                                      | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |      2266 | NS      | $121344.30    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| J M Smucker Co/The                         | J M Smucker Co/The                                                          | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |       880 | NS      | $84867.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on Inc                                | Snap-on Inc                                                                 | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      6351 | NS      | $2306810.22   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co                         | Sonoco Products Co                                                          | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |       611 | NS      | $33048.99     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co                      | Southwest Airlines Co                                                       | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     18667 | NS      | $701319.19    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc                 | Stanley Black & Decker Inc                                                  | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      8515 | NS      | $605075.90    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp                          | State Street Corp                                                           | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     10112 | NS      | $1279774.72   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                         | Steel Dynamics Inc                                                          | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      8313 | NS      | $1496340.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                               | Stryker Corp                                                                | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      3284 | NS      | $1079089.56   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc                   | Super Micro Computer Inc                                                    | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      2098 | NS      | $47771.46     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                             | TD SYNNEX Corp                                                              | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      1143 | NS      | $192835.53    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                        | Synchrony Financial                                                         | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     25544 | NS      | $1737502.88   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                            | T-Mobile US Inc                                                             | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     20225 | NS      | $4247856.75   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                                | Target Corp                                                                 | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     16536 | NS      | $2004163.20   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc                  | Teledyne Technologies Inc                                                   | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |       243 | NS      | $147017.43    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp                      | Tenet Healthcare Corp                                                       | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |       450 | NS      | $84919.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc                                | Textron Inc                                                                 | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |      4987 | NS      | $436661.72    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc               | Thermo Fisher Scientific Inc                                                | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      7432 | NS      | $3653050.96   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The                      | Travelers Cos Inc/The                                                       | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |     20385 | NS      | $5945896.80   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp                      | Truist Financial Corp                                                       | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     45621 | NS      | $2097197.37   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                            | Tyson Foods Inc                                                             | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     36798 | NS      | $2357647.86   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                 | US Bancorp                                                                  | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     40031 | NS      | $2082012.31   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                      | Uber Technologies Inc                                                       | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |       378 | NS      | $27189.54     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc               | United Airlines Holdings Inc                                                | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     17600 | NS      | $1620432.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc                  | United Parcel Service Inc                                                   | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      4156 | NS      | $408867.28    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc                         | United Rentals Inc                                                          | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      2996 | NS      | $2182765.76   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp                      | US Foods Holding Corp                                                       | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |     11078 | NS      | $1021502.38   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                   | United Therapeutics Corp                                                    | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |       683 | NS      | $405005.34    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                     | UnitedHealth Group Inc                                                      | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     27077 | NS      | $7326765.43   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc              | Universal Health Services Inc                                               | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |      1221 | NS      | $218522.37    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                         | Valero Energy Corp                                                          | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     13001 | NS      | $3212287.08   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                 | Verizon Communications Inc                                                  | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    156451 | NS      | $7853840.20   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Versant Media Group Inc                    | Versant Media Group Inc                                                     | CUSIP: 925283103<br>LEI: 254900D2Q5F5F229PU30 | Long             | EC               | CORP              | US        |      8215 | NS      | $304119.30    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc                 | Vertex Pharmaceuticals Inc                                                  | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      2574 | NS      | $1149393.96   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                | Viatris Inc                                                                 | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |      3308 | NS      | $44691.08     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                        | Vulcan Materials Co                                                         | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      7957 | NS      | $2166691.10   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp   | Westinghouse Air Brake Technologies Corp                                    | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |      5333 | NS      | $1332770.03   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SS INST US GOV MM ADMIN SALXX              | SS INST US GOV MM ADMIN SALXX                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    942152 | NS      | $942151.92    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc                  | Warner Bros Discovery Inc                                                   | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     63964 | NS      | $1756451.44   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corp                                | Waters Corp                                                                 | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |      1824 | NS      | $543187.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                           | Wells Fargo & Co                                                            | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     99373 | NS      | $7911084.53   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                              | Westlake Corp                                                               | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |      4853 | NS      | $566927.46    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                       | Williams Cos Inc/The                                                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     20936 | NS      | $1523722.08   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                               | Xylem Inc/NY                                                                | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      2684 | NS      | $320738.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                 | Zimmer Biomet Holdings Inc                                                  | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |      6835 | NS      | $618020.70    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA                           | Zions Bancorp NA                                                            | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |      4132 | NS      | $238085.84    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications Inc                    | Zoom Communications Inc                                                     | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |      1437 | NS      | $115520.43    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors               | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |     85759 | NS      | $85758.75     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor PLC                                  | Amcor PLC                                                                   | CUSIP: 000000000<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |      4153 | NS      | $165081.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                                 | Amdocs Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |      6785 | NS      | $442789.10    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                     | Arch Capital Group Ltd                                                      | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |     18837 | NS      | $1808163.63   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                              | Accenture PLC                                                               | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     10310 | NS      | $2044369.90   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                    | CRH PLC                                                                     | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |     27465 | NS      | $2887120.80   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                          | Everest Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |       583 | NS      | $190553.55    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC                  | Flutter Entertainment PLC                                                   | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | IE        |      2261 | NS      | $230508.95    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                   | Jazz Pharmaceuticals PLC                                                    | CUSIP: 000000000<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      4230 | NS      | $799681.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International plc         | Johnson Controls International plc                                          | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |     11442 | NS      | $1498329.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                  | Linde PLC                                                                   | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     12368 | NS      | $6131559.68   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                              | Medtronic PLC                                                               | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     35985 | NS      | $3118100.25   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd                 | RenaissanceRe Holdings Ltd                                                  | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |        60 | NS      | $17833.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                                | Pentair PLC                                                                 | CUSIP: 000000000<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |     18534 | NS      | $1614496.74   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                 | STERIS PLC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      3097 | NS      | $684839.61    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC                        | TE Connectivity PLC                                                         | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |     19914 | NS      | $4162424.28   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                            | Bunge Global SA                                                             | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |      7718 | NS      | $981729.60    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                                  | Chubb Ltd                                                                   | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     11440 | NS      | $3728639.20   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd                                 | Garmin Ltd                                                                  | CUSIP: 000000000<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |     11585 | NS      | $2687835.85   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                          | CNH Industrial NV                                                           | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | NL        |     12374 | NS      | $136114.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                      | NXP Semiconductors NV                                                       | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |     11238 | NS      | $2212312.68   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                                   | Flex Ltd                                                                    | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |     23432 | NS      | $1533858.72   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-20

**Name of Applicant:** SA FUNDS INVESTMENT TRUST

**Signature:** Marcy Tsagarakis

**Name of Signer:** Marcy Tsagarakis

**Title:** SA Funds Investment Trust, Secretary