# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0000898745-26-000042
**Filing Date:** 2026-1
**Character Count:** 555754
**Document Hash:** 0f22057395116fa7e9cfbedd80419250
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898745-26-000042.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0000898745-26-000042

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000898745

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07572
- **FILM NUMBER:** 26554260

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-235-9328

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS, INC
- **DATE OF NAME CHANGE:** 20211220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS INC
- **DATE OF NAME CHANGE:** 20080616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL INVESTORS FUND INC
- **DATE OF NAME CHANGE:** 20001012

## Series and Classes Contracts Data

### Blue Chip Fund (Series ID: S000037378)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000115413 | Institutional Class | PBCKX           |
| C000131723 | Class A             | PBLAX           |
| C000131724 | Class C             | PBLCX           |
| C000167694 | R-3                 | PGBEX           |
| C000167696 | R-5                 | PGBGX           |
| C000176331 | R-6                 | PGBHX           |
| C000193661 | Class J             | PBCJX           |

## Nport-Ex

Schedule

of

Investments

Blue

Chip

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.09

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.09

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.88%

(a),(b)

24,556

$

Principal

Government

Money

Market

Fund

-

Class

3.87%

(a),(b),(c)

9,124,507

9,125

$

9,149

TOTAL

INVESTMENT

COMPANIES

$

9,149

COMMON

STOCKS

-

.99

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.01

%

HEICO

Corp

-

Class

A

679,499

$

167,816

TransDigm

Group

Inc

416,619

566,673

$

734,489

Building

Materials

-

.03

%

Vulcan

Materials

Co

362,720

107,815

Chemicals

-

.28

%

Linde

PLC

232,112

95,240

Sherwin-Williams

Co/The

111,891

38,456

$

133,696

Commercial

Services

-

.47

%

Moody's

Corp

100,421

49,285

Distribution

&

Wholesale

-

.29

%

Copart

Inc

(d) 3,465,416

135,082

Diversified

Financial

Services

-

.69

%

Brookfield

Asset

Management

Ltd

(e) 604,742

31,894

Brookfield

Wealth

Solutions

Ltd

(d),(e)

85,339

4,008

Charles

Schwab

Corp/The

977,728

90,665

Mastercard

Inc

846,602

466,080

Visa

Inc

1,265,176

423,125

$

1,015,772

Electronics

-

.12

%

Amphenol

Corp

833,711

117,470

Healthcare

-

Products

-

.61

%

Danaher

Corp

1,622,102

367,860

IDEXX

Laboratories

Inc

(d) 96,782

72,865

Intuitive

Surgical

Inc

(d) 74,476

42,711

$

483,436

Insurance

-

.68

%

Arthur

J

Gallagher

&

Co

289,660

71,726

Internet

-

.67

%

Airbnb

Inc

(d) 790,126

92,437

Alphabet

Inc

-

A

Shares

724,437

231,950

Alphabet

Inc

-

C

Shares

629,123

201,395

Amazon.com

Inc

(d) 5,260,416

1,226,834

Meta

Platforms

Inc

454,127

294,251

Netflix

Inc

(d) 3,051,819

328,315

$

2,375,182

Lodging

-

.73

%

Hilton

Worldwide

Holdings

Inc

636,296

181,363

Pharmaceuticals

-

.38

%

Zoetis

Inc

1,124,622

144,154

Private

Equity

-

.99

%

Brookfield

Corp

15,282,559

718,280

KKR

&

Co

Inc

1,824,413

223,144

$

941,424

Real

Estate

-

.51

%

CoStar

Group

Inc

(d) 2,298,513

158,138

Retail

-

.99

%

Costco

Wholesale

Corp

91,880

83,941

O'Reilly

Automotive

Inc

(d) 1,223,516

124,431

$

208,372

Semiconductors

-

.93

%

Broadcom

Inc

1,212,030

488,399

NVIDIA

Corp

4,304,179

761,840

$

1,250,239

Software

-

.61

%

Cadence

Design

Systems

Inc

(d) 1,374,505

428,626

Constellation

Software

Inc/Canada

23,761

58,098

Microsoft

Corp

3,182,219

1,565,684

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Software

(continued)

MSCI

Inc

116,801

$

65,843

Roper

Technologies

Inc

395,844

176,633

Veeva

Systems

Inc

(d) 308,591

74,151

$

2,369,035

TOTAL

COMMON

STOCKS

$

10,476,678

Total

Investments

$

10,485,827

Other

Assets

and

Liabilities

- (0.08)%

(8,646)

TOTAL

NET

ASSETS

-

100.00%

$

10,477,181

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,144

or

0.09%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,061

or

0.09%

of

net

assets.

Schedule

of

Investments

Blue

Chip

Fund

November

30,

2025

(unaudited)

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

123,051

$

113,931

$

9,125

$

$

123,051

$

113,931

$

9,125

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.72

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.25

%

iShares

iBoxx

$

Investment

Grade

Corporate

Bond

ETF

60,000

$

6,712

Money

Market

Funds

-

.47

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.88%

(a),(b)

19,906

Principal

Government

Money

Market

Fund

-

Class

3.87%

(a),(b),(c)

40,116,526

40,117

$

40,136

TOTAL

INVESTMENT

COMPANIES

$

46,848

BONDS

-

.49

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

.01

%

Interpublic

Group

of

Cos

Inc/The

2.40%,

03/01/2031

$

$

Omnicom

Group

Inc

2.45%,

04/30/2030

2.60%,

08/01/2031

$

Aerospace

&

Defense

-

.53

%

Boeing

Co/The

2.70%,

02/01/2027

2.95%,

02/01/2030

3.25%,

02/01/2028

685

673

3.50%,

03/01/2039

3.63%,

02/01/2031

3.95%,

08/01/2059

5.04%,

05/01/2027

5.15%,

05/01/2030

5.71%,

05/01/2040

5.81%,

05/01/2050

5.88%,

02/15/2040

5.93%,

05/01/2060

6.26%,

05/01/2027

6.30%,

05/01/2029

6.53%,

05/01/2034

6.86%,

05/01/2054

General

Dynamics

Corp

2.25%,

06/01/2031

4.25%,

04/01/2040

4.95%,

08/15/2035

General

Electric

Co

4.90%,

01/29/2036

L3Harris

Technologies

Inc

4.40%,

06/15/2028

5.05%,

06/01/2029

5.40%,

01/15/2027

5.40%,

07/31/2033

5.50%,

08/15/2054

5.60%,

07/31/2053

Lockheed

Martin

Corp

3.90%,

06/15/2032

4.07%,

12/15/2042

4.09%,

09/15/2052

4.15%,

08/15/2028

4.15%,

06/15/2053

4.50%,

02/15/2029

4.70%,

12/15/2031

4.70%,

05/15/2046

4.75%,

02/15/2034

5.00%,

08/15/2035

5.10%,

11/15/2027

5.20%,

02/15/2055

5.20%,

02/15/2064

5.25%,

01/15/2033

5.70%,

11/15/2054

Northrop

Grumman

Corp

3.20%,

02/01/2027

4.65%,

07/15/2030

4.70%,

03/15/2033

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

(continued)

Northrop

Grumman

Corp

(continued)

4.90%,

06/01/2034

$

$

4.95%,

03/15/2053

5.25%,

05/01/2050

600

578

RTX

Corp

1.90%,

09/01/2031

2.25%,

07/01/2030

2.38%,

03/15/2032

2.82%,

09/01/2051

3.03%,

03/15/2052

3.50%,

03/15/2027

4.05%,

05/04/2047

610

502

4.13%,

11/16/2028

4.70%,

12/15/2041

5.15%,

02/27/2033

5.38%,

02/27/2053

5.75%,

01/15/2029

6.10%,

03/15/2034

6.40%,

03/15/2054

$

14,462

Agriculture

-

.39

%

Altria

Group

Inc

2.45%,

02/04/2032

3.40%,

05/06/2030

530

511

3.70%,

02/04/2051

3.88%,

09/16/2046

4.00%,

02/04/2061

(d) 60

4.88%,

02/04/2028

545

554

5.25%,

08/06/2035

5.38%,

01/31/2044

5.80%,

02/14/2039

Archer-Daniels-Midland

Co

2.70%,

09/15/2051

2.90%,

03/01/2032

4.50%,

08/15/2033

BAT

Capital

Corp

2.26%,

03/25/2028

2.73%,

03/25/2031

3.46%,

09/06/2029

3.56%,

08/15/2027

3.98%,

09/25/2050

4.39%,

08/15/2037

540

500

4.54%,

08/15/2047

4.63%,

03/22/2033

5.63%,

08/15/2035

5.83%,

02/20/2031

6.42%,

08/02/2033

7.08%,

08/02/2043

7.08%,

08/02/2053

BAT

International

Finance

PLC

5.93%,

02/02/2029

Bunge

Ltd

Finance

Corp

2.75%,

05/14/2031

5.15%,

08/04/2035

Philip

Morris

International

Inc

1.75%,

11/01/2030

3.88%,

10/27/2028

4.13%,

04/28/2028

4.13%,

03/04/2043

4.25%,

10/29/2032

4.38%,

04/30/2030

4.63%,

11/01/2029

4.88%,

02/15/2028

4.88%,

02/13/2029

4.88%,

04/30/2035

4.90%,

11/01/2034

5.13%,

11/17/2027

580

592

5.25%,

02/13/2034

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Agriculture

(continued)

Philip

Morris

International

Inc

(continued)

5.38%,

02/15/2033

$

$

5.50%,

09/07/2030

5.63%,

11/17/2029

580

611

5.75%,

11/17/2032

Reynolds

American

Inc

5.70%,

08/15/2035

5.85%,

08/15/2045

$

10,747

Airlines

-

.02

%

American

Airlines

2019-1

Class

AA

Pass

Through

Trust

3.15%,

08/15/2033

Delta

Air

Lines

2020-1

Class

AA

Pass

Through

Trust

2.00%,

06/10/2028

Delta

Air

Lines

Inc

4.95%,

07/10/2028

United

Airlines

2019-2

Class

AA

Pass

Through

Trust

2.70%,

11/01/2033

$

505

Apparel

-

.02

%

NIKE

Inc

3.25%,

03/27/2040

3.38%,

11/01/2046

3.63%,

05/01/2043

$

579

Automobile

Manufacturers

-

.60

%

American

Honda

Finance

Corp

2.25%,

01/12/2029

4.50%,

09/04/2030

4.55%,

03/03/2028

4.60%,

04/17/2030

4.70%,

01/12/2028

4.90%,

07/09/2027

4.90%,

01/10/2034

5.05%,

07/10/2031

5.15%,

07/09/2032

5.65%,

11/15/2028

5.85%,

10/04/2030

Ford

Motor

Co

6.10%,

08/19/2032

Ford

Motor

Credit

Co

LLC

5.30%,

09/06/2029

5.80%,

03/05/2027

5.80%,

03/08/2029

5.85%,

05/17/2027

5.88%,

11/07/2029

5.92%,

03/20/2028

6.05%,

03/05/2031

6.05%,

11/05/2031

6.50%,

02/07/2035

6.80%,

11/07/2028

7.12%,

11/07/2033

7.35%,

11/04/2027

General

Motors

Co

5.00%,

04/01/2035

5.15%,

04/01/2038

5.20%,

04/01/2045

5.35%,

04/15/2028

5.40%,

04/01/2048

5.95%,

04/01/2049

6.25%,

04/15/2035

6.25%,

10/02/2043

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Manufacturers

(continued)

General

Motors

Financial

Co

Inc

2.35%,

02/26/2027

$

$

2.35%,

01/08/2031

2.40%,

04/10/2028

2.40%,

10/15/2028

2.70%,

06/10/2031

4.20%,

10/27/2028

4.35%,

01/17/2027

4.90%,

10/06/2029

5.35%,

07/15/2027

5.35%,

01/07/2030

5.40%,

05/08/2027

5.45%,

07/15/2030

5.45%,

09/06/2034

5.55%,

07/15/2029

5.60%,

06/18/2031

5.80%,

01/07/2029

5.90%,

01/07/2035

6.00%,

01/09/2028

6.15%,

07/15/2035

6.40%,

01/09/2033

Honda

Motor

Co

Ltd

2.53%,

03/10/2027

4.44%,

07/08/2028

5.34%,

07/08/2035

PACCAR

Financial

Corp

4.25%,

06/23/2027

4.45%,

08/06/2027

4.60%,

01/31/2029

5.00%,

05/13/2027

Toyota

Motor

Corp

4.19%,

06/30/2027

5.05%,

06/30/2035

(d) 155

5.12%,

07/13/2028

Toyota

Motor

Credit

Corp

1.15%,

08/13/2027

1.65%,

01/10/2031

1.90%,

01/13/2027

4.05%,

09/05/2028

4.35%,

10/08/2027

4.45%,

06/29/2029

4.50%,

05/14/2027

4.55%,

05/17/2030

4.60%,

10/10/2031

4.63%,

01/12/2028

4.80%,

05/15/2030

4.80%,

01/05/2034

4.95%,

01/09/2030

5.00%,

03/19/2027

5.10%,

03/21/2031

$

16,325

Automobile

Parts

&

Equipment

-

.02

%

Aptiv

Swiss

Holdings

Ltd

3.25%,

03/01/2032

4.40%,

10/01/2046

BorgWarner

Inc

4.38%,

03/15/2045

$

568

Banks

-

.57

%

Australia

&

New

Zealand

Banking

Group

Ltd/New

York

NY

4.90%,

07/16/2027

Banco

Santander

SA

2.75%,

12/03/2030

3.49%,

05/28/2030

5.13%,

11/06/2035

5.29%,

08/18/2027

5.44%,

07/15/2031

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Banco

Santander

SA

(continued)

5.57%,

01/17/2030

$

$

5.59%,

08/08/2028

6.94%,

11/07/2033

Bank

of

America

Corp

1.90%,

07/23/2031

(e) 445

Secured

Overnight

Financing

Rate

+

1.53%

1.92%,

10/24/2031

(e) 205

Secured

Overnight

Financing

Rate

+

1.37%

2.09%,

06/14/2029

(e) 60

Secured

Overnight

Financing

Rate

+

1.06%

2.30%,

07/21/2032

(e) 440

Secured

Overnight

Financing

Rate

+

1.22%

2.48%,

09/21/2036

(e) 630

555

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.20%

2.50%,

02/13/2031

(e) 225

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

2.55%,

02/04/2028

(e) 255

Secured

Overnight

Financing

Rate

+

1.05%

2.57%,

10/20/2032

(e) 260

Secured

Overnight

Financing

Rate

+

1.21%

2.65%,

03/11/2032

(e) 325

Secured

Overnight

Financing

Rate

+

1.22%

2.68%,

06/19/2041

(e) 465

Secured

Overnight

Financing

Rate

+

1.93%

2.83%,

10/24/2051

(e) 175

Secured

Overnight

Financing

Rate

+

1.88%

2.97%,

02/04/2033

(e) 530

Secured

Overnight

Financing

Rate

+

1.33%

2.97%,

07/21/2052

(e) 115

Secured

Overnight

Financing

Rate

+

1.56%

3.25%,

10/21/2027

550

544

3.31%,

04/22/2042

(e) 715

572

Secured

Overnight

Financing

Rate

+

1.58%

3.42%,

12/20/2028

(e) 725

716

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

3.59%,

07/21/2028

(e) 600

595

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.63%

3.82%,

01/20/2028

(e) 500

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.84%

3.85%,

03/08/2037

(e) 550

520

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

3.97%,

03/05/2029

(e) 75

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.33%

3.97%,

02/07/2030

(e) 600

597

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.47%

4.08%,

03/20/2051

(e) 515

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.41%

4.27%,

07/23/2029

(e) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.57%

4.33%,

03/15/2050

(e) 255

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.78%

4.38%,

04/27/2028

(e) 175

Secured

Overnight

Financing

Rate

+

1.58%

4.57%,

04/27/2033

(e) 315

Secured

Overnight

Financing

Rate

+

1.83%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

America

Corp

(continued)

4.62%,

05/09/2029

(e) $

$

Secured

Overnight

Financing

Rate

+

1.11%

4.98%,

01/24/2029

(e) 300

Secured

Overnight

Financing

Rate

+

0.83%

5.00%,

01/21/2044

5.02%,

07/22/2033

(e) 585

602

Secured

Overnight

Financing

Rate

+

2.16%

5.16%,

01/24/2031

(e) 300

Secured

Overnight

Financing

Rate

+

1.00%

5.20%,

04/25/2029

(e) 250

Secured

Overnight

Financing

Rate

+

1.63%

5.29%,

04/25/2034

(e) 515

537

Secured

Overnight

Financing

Rate

+

1.91%

5.43%,

08/15/2035

(e) 200

Secured

Overnight

Financing

Rate

+

1.91%

5.46%,

05/09/2036

(e) 400

Secured

Overnight

Financing

Rate

+

1.64%

5.47%,

01/23/2035

(e) 695

731

Secured

Overnight

Financing

Rate

+

1.65%

5.51%,

01/24/2036

(e) 435

Secured

Overnight

Financing

Rate

+

1.31%

5.52%,

10/25/2035

(e) 350

Secured

Overnight

Financing

Rate

+

1.74%

5.82%,

09/15/2029

(e) 315

Secured

Overnight

Financing

Rate

+

1.57%

5.87%,

09/15/2034

(e) 315

Secured

Overnight

Financing

Rate

+

1.84%

5.88%,

02/07/2042

6.11%,

01/29/2037

7.75%,

05/14/2038

Bank

of

Montreal

3.09%,

01/10/2037

(e) 235

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.40%

4.35%,

09/22/2031

(e) 160

Secured

Overnight

Financing

Rate

+

1.08%

4.64%,

09/10/2030

(e) 270

Secured

Overnight

Financing

Rate

+

1.25%

4.70%,

09/14/2027

5.37%,

06/04/2027

(d) 195

5.72%,

09/25/2028

Bank

of

New

York

Mellon

Corp/The

2.05%,

01/26/2027

2.50%,

01/26/2032

(d) 65

3.99%,

06/13/2028

(e) 70

Secured

Overnight

Financing

Rate

+

1.15%

4.44%,

06/09/2028

(e) 380

Secured

Overnight

Financing

Rate

+

0.68%

4.54%,

02/01/2029

(e) 185

Secured

Overnight

Financing

Rate

+

1.17%

4.89%,

07/21/2028

(e) 130

Secured

Overnight

Financing

Rate

+

0.84%

4.94%,

02/11/2031

(e) 335

Secured

Overnight

Financing

Rate

+

0.89%

4.97%,

04/26/2034

(e) 170

Secured

Overnight

Financing

Rate

+

1.61%

5.06%,

07/22/2032

(e) 130

Secured

Overnight

Financing

Rate

+

1.23%

5.19%,

03/14/2035

(e) 360

Secured

Overnight

Financing

Rate

+

1.42%

5.32%,

06/06/2036

(e) 65

Secured

Overnight

Financing

Rate

+

1.35%

5.83%,

10/25/2033

(e) 155

Secured

Overnight

Financing

Rate

+

2.07%

6.32%,

10/25/2029

(e) 315

Secured

Overnight

Financing

Rate

+

1.60%

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

Nova

Scotia/The

2.15%,

08/01/2031

$

$

4.04%,

09/15/2028

(e) 190

Secured

Overnight

Financing

Rate

+

0.76%

4.74%,

11/10/2032

(e) 325

Secured

Overnight

Financing

Rate

+

1.44%

4.85%,

02/01/2030

5.35%,

12/07/2026

5.40%,

06/04/2027

Barclays

PLC

2.65%,

06/24/2031

(e) 385

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

3.56%,

09/23/2035

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

3.81%,

03/10/2042

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.70%

4.84%,

09/10/2028

(e) 200

Secured

Overnight

Financing

Rate

+

1.34%

4.94%,

09/10/2030

(e) 200

Secured

Overnight

Financing

Rate

+

1.56%

4.97%,

05/16/2029

(e) 500

509

Month

USD

LIBOR

+

1.90%

5.09%,

02/25/2029

(e) 225

Secured

Overnight

Financing

Rate

+

0.96%

5.50%,

08/09/2028

(e) 300

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

5.67%,

03/12/2028

(e) 250

Secured

Overnight

Financing

Rate

+

1.49%

5.69%,

03/12/2030

(e) 250

Secured

Overnight

Financing

Rate

+

1.74%

5.79%,

02/25/2036

(e) 215

Secured

Overnight

Financing

Rate

+

1.59%

5.86%,

08/11/2046

(e) 200

Secured

Overnight

Financing

Rate

+

1.83%

6.22%,

05/09/2034

(e) 320

Secured

Overnight

Financing

Rate

+

2.98%

6.69%,

09/13/2034

(e) 315

Secured

Overnight

Financing

Rate

+

2.62%

7.44%,

11/02/2033

(e) 310

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.50%

Canadian

Imperial

Bank

of

Commerce

4.58%,

09/08/2031

(e) 300

Secured

Overnight

Financing

Rate

+

1.17%

4.63%,

09/11/2030

(d),(e)

Secured

Overnight

Financing

Rate

+

1.34%

4.86%,

01/13/2028

(e) 215

Secured

Overnight

Financing

Rate

+

0.72%

5.00%,

04/28/2028

5.26%,

04/08/2029

5.99%,

10/03/2028

Citibank

NA

4.91%,

05/29/2030

500

516

5.57%,

04/30/2034

5.80%,

09/29/2028

Citigroup

Inc

2.52%,

11/03/2032

(e) 265

Secured

Overnight

Financing

Rate

+

1.18%

2.56%,

05/01/2032

(e) 200

Secured

Overnight

Financing

Rate

+

1.17%

2.57%,

06/03/2031

(e) 310

Secured

Overnight

Financing

Rate

+

2.11%

2.67%,

01/29/2031

(e) 400

Secured

Overnight

Financing

Rate

+

1.15%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Citigroup

Inc

(continued)

2.90%,

11/03/2042

(e) $

$

Secured

Overnight

Financing

Rate

+

1.38%

2.98%,

11/05/2030

(e) 150

Secured

Overnight

Financing

Rate

+

1.42%

3.06%,

01/25/2033

(e) 500

Secured

Overnight

Financing

Rate

+

1.35%

3.52%,

10/27/2028

(e) 125

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.41%

3.79%,

03/17/2033

(e) 520

Secured

Overnight

Financing

Rate

+

1.94%

3.88%,

01/24/2039

(e) 220

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.43%

3.89%,

01/10/2028

(e) 500

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.82%

4.13%,

07/25/2028

620

620

4.28%,

04/24/2048

(e) 100

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.10%

4.45%,

09/29/2027

575

578

4.50%,

09/11/2031

(e) 345

Secured

Overnight

Financing

Rate

+

1.17%

4.54%,

09/19/2030

(e) 270

Secured

Overnight

Financing

Rate

+

1.34%

4.64%,

05/07/2028

(e) 430

Secured

Overnight

Financing

Rate

+

1.14%

4.65%,

07/30/2045

4.65%,

07/23/2048

4.66%,

05/24/2028

(e) 420

Secured

Overnight

Financing

Rate

+

1.89%

4.79%,

03/04/2029

(e) 300

Secured

Overnight

Financing

Rate

+

0.87%

4.91%,

05/24/2033

(e) 165

Secured

Overnight

Financing

Rate

+

2.09%

4.95%,

05/07/2031

(e) 305

Secured

Overnight

Financing

Rate

+

1.46%

5.17%,

02/13/2030

(e) 265

Secured

Overnight

Financing

Rate

+

1.36%

5.17%,

09/11/2036

(e) 315

Secured

Overnight

Financing

Rate

+

1.49%

5.33%,

03/27/2036

(e) 475

Secured

Overnight

Financing

Rate

+

1.47%

5.41%,

09/19/2039

(e) 325

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.73%

5.61%,

03/04/2056

(e) 150

Secured

Overnight

Financing

Rate

+

1.75%

5.83%,

02/13/2035

(e) 500

523

Secured

Overnight

Financing

Rate

+

2.06%

6.02%,

01/24/2036

(e) 525

553

Secured

Overnight

Financing

Rate

+

1.83%

6.17%,

05/25/2034

(e) 320

Secured

Overnight

Financing

Rate

+

2.66%

6.27%,

11/17/2033

(e) 310

Secured

Overnight

Financing

Rate

+

2.34%

6.68%,

09/13/2043

Cooperatieve

Rabobank

UA

5.25%,

05/24/2041

Cooperatieve

Rabobank

UA/NY

4.80%,

01/09/2029

(d) 265

4.88%,

01/21/2028

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Deutsche

Bank

AG/New

York

NY

4.95%,

08/04/2031

(e) $

$

Secured

Overnight

Financing

Rate

+

1.30%

5.00%,

09/11/2030

(e) 270

Secured

Overnight

Financing

Rate

+

1.70%

5.30%,

05/09/2031

(e) 340

Secured

Overnight

Financing

Rate

+

1.72%

5.37%,

09/09/2027

5.37%,

01/10/2029

(e) 365

Secured

Overnight

Financing

Rate

+

1.21%

6.72%,

01/18/2029

(e) 320

Secured

Overnight

Financing

Rate

+

3.18%

6.82%,

11/20/2029

(e) 300

Secured

Overnight

Financing

Rate

+

2.51%

7.08%,

02/10/2034

(e) 320

Secured

Overnight

Financing

Rate

+

3.65%

Fifth

Third

Bancorp

4.06%,

04/25/2028

(e) 275

Secured

Overnight

Financing

Rate

+

1.36%

5.63%,

01/29/2032

(e) 135

Secured

Overnight

Financing

Rate

+

1.84%

6.34%,

07/27/2029

(e) 235

Secured

Overnight

Financing

Rate

+

2.34%

Fifth

Third

Bank

NA

4.97%,

01/28/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.81%

Goldman

Sachs

Group

Inc/The

1.99%,

01/27/2032

(e) 355

Secured

Overnight

Financing

Rate

+

1.09%

2.60%,

02/07/2030

590

554

2.62%,

04/22/2032

(e) 440

Secured

Overnight

Financing

Rate

+

1.28%

2.64%,

02/24/2028

(e) 185

Secured

Overnight

Financing

Rate

+

1.11%

2.65%,

10/21/2032

(e) 425

Secured

Overnight

Financing

Rate

+

1.26%

2.91%,

07/21/2042

(e) 115

Secured

Overnight

Financing

Rate

+

1.47%

3.10%,

02/24/2033

(e) 210

Secured

Overnight

Financing

Rate

+

1.41%

3.21%,

04/22/2042

(e) 60

Secured

Overnight

Financing

Rate

+

1.51%

3.44%,

02/24/2043

(e) 200

Secured

Overnight

Financing

Rate

+

1.63%

3.69%,

06/05/2028

(e) 290

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.77%

3.81%,

04/23/2029

(e) 375

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.42%

3.85%,

01/26/2027

510

509

4.15%,

10/21/2029

(e) 155

Secured

Overnight

Financing

Rate

+

0.90%

4.22%,

05/01/2029

(e) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.56%

4.37%,

10/21/2031

(e) 315

Secured

Overnight

Financing

Rate

+

1.06%

4.41%,

04/23/2039

(e) 175

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.69%

4.48%,

08/23/2028

(e) 295

Secured

Overnight

Financing

Rate

+

1.73%

4.69%,

10/23/2030

(e) 275

Secured

Overnight

Financing

Rate

+

1.14%

4.80%,

07/08/2044

4.94%,

04/23/2028

(e) 305

Secured

Overnight

Financing

Rate

+

1.32%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Goldman

Sachs

Group

Inc/The

(continued)

4.94%,

10/21/2036

(e) $

$

Secured

Overnight

Financing

Rate

+

1.33%

5.02%,

10/23/2035

(e) 275

Secured

Overnight

Financing

Rate

+

1.42%

5.05%,

07/23/2030

(e) 295

Secured

Overnight

Financing

Rate

+

1.21%

5.15%,

05/22/2045

5.21%,

01/28/2031

(e) 385

Secured

Overnight

Financing

Rate

+

1.08%

5.33%,

07/23/2035

(e) 475

Secured

Overnight

Financing

Rate

+

1.55%

5.54%,

01/28/2036

(e) 310

Secured

Overnight

Financing

Rate

+

1.38%

5.56%,

11/19/2045

(e) 280

Secured

Overnight

Financing

Rate

+

1.58%

5.73%,

04/25/2030

(e) 220

Secured

Overnight

Financing

Rate

+

1.27%

5.73%,

01/28/2056

(e) 245

Secured

Overnight

Financing

Rate

+

1.70%

5.85%,

04/25/2035

(e) 330

Secured

Overnight

Financing

Rate

+

1.55%

6.25%,

02/01/2041

6.48%,

10/24/2029

(e) 315

Secured

Overnight

Financing

Rate

+

1.77%

6.56%,

10/24/2034

(e) 160

Secured

Overnight

Financing

Rate

+

1.95%

6.75%,

10/01/2037

575

648

HSBC

Holdings

PLC

2.01%,

09/22/2028

(e) 300

Secured

Overnight

Financing

Rate

+

1.73%

2.36%,

08/18/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.95%

2.80%,

05/24/2032

(e) 600

550

Secured

Overnight

Financing

Rate

+

1.19%

2.85%,

06/04/2031

(e) 200

Secured

Overnight

Financing

Rate

+

2.39%

3.97%,

05/22/2030

(e) 300

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.87%

4.04%,

03/13/2028

(e) 500

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.81%

4.58%,

06/19/2029

(e) 300

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.80%

4.76%,

06/09/2028

(e) 250

Secured

Overnight

Financing

Rate

+

2.11%

4.90%,

03/03/2029

(e) 210

Secured

Overnight

Financing

Rate

+

1.03%

5.13%,

03/03/2031

(e) 300

Secured

Overnight

Financing

Rate

+

1.29%

5.13%,

11/06/2036

(e) 200

Secured

Overnight

Financing

Rate

+

1.43%

5.24%,

05/13/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.57%

5.29%,

11/19/2030

(e) 240

Secured

Overnight

Financing

Rate

+

1.29%

5.40%,

08/11/2033

(e) 500

521

Secured

Overnight

Financing

Rate

+

2.87%

5.55%,

03/04/2030

(e) 250

Secured

Overnight

Financing

Rate

+

1.46%

5.72%,

03/04/2035

(e) 250

Secured

Overnight

Financing

Rate

+

1.78%

5.73%,

05/17/2032

(e) 255

Secured

Overnight

Financing

Rate

+

1.52%

5.74%,

09/10/2036

(e) 220

Secured

Overnight

Financing

Rate

+

1.96%

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

HSBC

Holdings

PLC

(continued)

5.79%,

05/13/2036

(e) $

$

Secured

Overnight

Financing

Rate

+

1.88%

5.87%,

11/18/2035

(e) 280

Secured

Overnight

Financing

Rate

+

1.90%

6.16%,

03/09/2029

(e) 200

Secured

Overnight

Financing

Rate

+

1.97%

6.25%,

03/09/2034

(e) 270

Secured

Overnight

Financing

Rate

+

2.39%

6.33%,

03/09/2044

(e) 595

658

Secured

Overnight

Financing

Rate

+

2.65%

6.50%,

09/15/2037

6.55%,

06/20/2034

(e) 320

Secured

Overnight

Financing

Rate

+

2.98%

7.39%,

11/03/2028

(e) 310

Secured

Overnight

Financing

Rate

+

3.35%

HSBC

USA

Inc

4.65%,

06/03/2028

Huntington

Bancshares

Inc/OH

5.27%,

01/15/2031

(e) 330

Secured

Overnight

Financing

Rate

+

1.28%

Huntington

National

Bank/The

4.87%,

04/12/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.72%

5.65%,

01/10/2030

ING

Groep

NV

4.86%,

03/25/2029

(e) 300

Secured

Overnight

Financing

Rate

+

1.01%

5.34%,

03/19/2030

(e) 250

Secured

Overnight

Financing

Rate

+

1.44%

5.53%,

03/25/2036

(e) 200

Secured

Overnight

Financing

Rate

+

1.61%

6.11%,

09/11/2034

(e) 235

Secured

Overnight

Financing

Rate

+

2.09%

JPMorgan

Chase

&

Co

1.76%,

11/19/2031

(e) 135

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.11%

1.95%,

02/04/2032

(e) 115

Secured

Overnight

Financing

Rate

+

1.07%

2.07%,

06/01/2029

(e) 190

Secured

Overnight

Financing

Rate

+

1.02%

2.18%,

06/01/2028

(e) 70

Secured

Overnight

Financing

Rate

+

1.89%

2.53%,

11/19/2041

(e) 65

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

2.55%,

11/08/2032

(e) 420

Secured

Overnight

Financing

Rate

+

1.18%

2.58%,

04/22/2032

(e) 465

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.25%

2.74%,

10/15/2030

(e) 600

570

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.51%

2.96%,

05/13/2031

(e) 575

543

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.52%

3.11%,

04/22/2041

(e) 235

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.46%

3.11%,

04/22/2051

(e) 335

Secured

Overnight

Financing

Rate

+

2.44%

3.33%,

04/22/2052

(e) 215

Secured

Overnight

Financing

Rate

+

1.58%

3.51%,

01/23/2029

(e) 590

584

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.21%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

JPMorgan

Chase

&

Co

(continued)

3.88%,

07/24/2038

(e) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.62%

3.96%,

11/15/2048

(e) 510

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.64%

4.01%,

04/23/2029

(e) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.38%

4.20%,

07/23/2029

(e) 230

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.52%

4.25%,

10/22/2031

(e) 315

Secured

Overnight

Financing

Rate

+

0.93%

4.32%,

04/26/2028

(e) 550

552

Secured

Overnight

Financing

Rate

+

1.56%

4.51%,

10/22/2028

(e) 205

Secured

Overnight

Financing

Rate

+

0.86%

4.57%,

06/14/2030

(e) 305

Secured

Overnight

Financing

Rate

+

1.75%

4.59%,

04/26/2033

(e) 135

Secured

Overnight

Financing

Rate

+

1.80%

4.60%,

10/22/2030

(e) 475

Secured

Overnight

Financing

Rate

+

1.04%

4.81%,

10/22/2036

(e) 275

Secured

Overnight

Financing

Rate

+

1.19%

4.85%,

07/25/2028

(e) 315

Secured

Overnight

Financing

Rate

+

1.99%

4.91%,

07/25/2033

(e) 435

Secured

Overnight

Financing

Rate

+

2.08%

4.95%,

10/22/2035

(e) 460

Secured

Overnight

Financing

Rate

+

1.34%

4.95%,

06/01/2045

4.98%,

07/22/2028

(e) 260

Secured

Overnight

Financing

Rate

+

0.93%

5.00%,

07/22/2030

(e) 260

Secured

Overnight

Financing

Rate

+

1.13%

5.01%,

01/23/2030

(e) 320

Secured

Overnight

Financing

Rate

+

1.31%

5.04%,

01/23/2028

(e) 305

Secured

Overnight

Financing

Rate

+

1.19%

5.10%,

04/22/2031

(e) 320

Secured

Overnight

Financing

Rate

+

1.44%

5.14%,

01/24/2031

(e) 425

Secured

Overnight

Financing

Rate

+

1.01%

5.29%,

07/22/2035

(e) 475

Secured

Overnight

Financing

Rate

+

1.46%

5.30%,

07/24/2029

(e) 315

Secured

Overnight

Financing

Rate

+

1.45%

5.34%,

01/23/2035

(e) 185

Secured

Overnight

Financing

Rate

+

1.62%

5.35%,

06/01/2034

(e) 545

572

Secured

Overnight

Financing

Rate

+

1.85%

5.50%,

01/24/2036

(e) 530

560

Secured

Overnight

Financing

Rate

+

1.32%

5.53%,

11/29/2045

(e) 375

Secured

Overnight

Financing

Rate

+

1.55%

5.57%,

04/22/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.93%

5.57%,

04/22/2036

(e) 465

Secured

Overnight

Financing

Rate

+

1.68%

5.58%,

04/22/2030

(e) 250

Secured

Overnight

Financing

Rate

+

1.16%

5.58%,

07/23/2036

(e) 405

Secured

Overnight

Financing

Rate

+

1.64%

5.60%,

07/15/2041

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

JPMorgan

Chase

&

Co

(continued)

5.72%,

09/14/2033

(e) $

$

Secured

Overnight

Financing

Rate

+

2.58%

5.77%,

04/22/2035

(e) 390

Secured

Overnight

Financing

Rate

+

1.49%

6.09%,

10/23/2029

(e) 320

Secured

Overnight

Financing

Rate

+

1.57%

6.25%,

10/23/2034

(e) 320

Secured

Overnight

Financing

Rate

+

1.81%

JPMorgan

Chase

Bank

NA

5.11%,

12/08/2026

KeyBank

NA/Cleveland

OH

5.85%,

11/15/2027

500

515

KeyCorp

2.25%,

04/06/2027

5.12%,

04/04/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.23%

Korea

Development

Bank/The

3.75%,

09/16/2030

4.38%,

02/15/2028

4.50%,

02/15/2029

5.63%,

10/23/2033

Kreditanstalt

fuer

Wiederaufbau

0.00%,

06/29/2037

(f) 250

2.88%,

04/03/2028

3.00%,

05/20/2027

520

516

3.50%,

08/27/2027

3.50%,

08/09/2028

3.75%,

02/15/2028

3.75%,

07/15/2030

3.88%,

05/15/2028

3.88%,

06/15/2028

4.00%,

06/28/2027

4.00%,

03/15/2029

4.13%,

07/15/2033

4.38%,

03/01/2027

500

505

4.38%,

02/28/2034

4.63%,

03/18/2030

4.75%,

10/29/2030

Landwirtschaftliche

Rentenbank

3.63%,

10/08/2030

3.88%,

09/28/2027

3.88%,

06/14/2028

4.13%,

05/28/2030

4.63%,

04/17/2029

Lloyds

Banking

Group

PLC

3.57%,

11/07/2028

(e) 200

Month

USD

LIBOR

+

1.21%

3.75%,

01/11/2027

4.34%,

01/09/2048

4.38%,

03/22/2028

4.82%,

06/13/2029

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.83%

4.94%,

11/04/2036

(e) 320

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.97%

4.98%,

08/11/2033

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.30%

5.09%,

11/26/2028

(e) 210

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.85%

5.68%,

01/05/2035

(e) 265

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.75%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Lloyds

Banking

Group

PLC

(continued)

5.87%,

03/06/2029

(e) $

$

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.70%

M&T

Bank

Corp

4.83%,

01/16/2029

(e) 300

Secured

Overnight

Financing

Rate

+

0.93%

5.18%,

07/08/2031

(e) 155

Secured

Overnight

Financing

Rate

+

1.40%

Mitsubishi

UFJ

Financial

Group

Inc

2.05%,

07/17/2030

2.56%,

02/25/2030

3.20%,

07/18/2029

4.08%,

04/19/2028

(e) 600

600

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.30%

4.32%,

04/19/2033

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.55%

4.53%,

09/12/2031

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.80%

5.13%,

07/20/2033

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.13%

5.16%,

04/24/2031

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.17%

5.19%,

09/12/2036

(e) 250

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.93%

5.35%,

09/13/2028

(e) 255

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

5.41%,

04/19/2034

(d),(e)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.97%

5.43%,

04/17/2035

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.00%

5.57%,

01/16/2036

(e) 225

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.95%

Mizuho

Financial

Group

Inc

2.20%,

07/10/2031

(e) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.77%

2.26%,

07/09/2032

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.90%

3.15%,

07/16/2030

(e) 350

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.39%

5.32%,

07/08/2036

(e) 340

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.07%

5.41%,

09/13/2028

(e) 255

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.05%

5.59%,

07/10/2035

(e) 260

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.30%

5.74%,

05/27/2031

(e) 320

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.65%

5.75%,

07/06/2034

(e) 315

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.90%

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Morgan

Stanley

1.79%,

02/13/2032

(e) $

550

$

Secured

Overnight

Financing

Rate

+

1.03%

1.93%,

04/28/2032

(e) 95

Secured

Overnight

Financing

Rate

+

1.02%

2.24%,

07/21/2032

(e) 115

Secured

Overnight

Financing

Rate

+

1.18%

2.48%,

01/21/2028

(e) 40

Secured

Overnight

Financing

Rate

+

1.00%

2.48%,

09/16/2036

(e) 410

Secured

Overnight

Financing

Rate

+

1.36%

2.51%,

10/20/2032

(e) 130

Secured

Overnight

Financing

Rate

+

1.20%

2.70%,

01/22/2031

(e) 450

Secured

Overnight

Financing

Rate

+

1.14%

2.80%,

01/25/2052

(e) 210

Secured

Overnight

Financing

Rate

+

1.43%

2.94%,

01/21/2033

(e) 90

Secured

Overnight

Financing

Rate

+

1.29%

3.22%,

04/22/2042

(e) 310

Secured

Overnight

Financing

Rate

+

1.49%

3.59%,

07/22/2028

Month

USD

LIBOR

+

1.34%

3.77%,

01/24/2029

(e) 600

596

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

3.95%,

04/23/2027

710

710

4.13%,

10/18/2029

(e) 155

Secured

Overnight

Financing

Rate

+

0.91%

4.21%,

04/20/2028

(e) 135

Secured

Overnight

Financing

Rate

+

1.61%

4.30%,

01/27/2045

4.36%,

10/22/2031

(e) 655

656

Secured

Overnight

Financing

Rate

+

1.07%

4.65%,

10/18/2030

(e) 300

Secured

Overnight

Financing

Rate

+

1.10%

4.89%,

07/20/2033

(e) 275

Secured

Overnight

Financing

Rate

+

2.08%

4.89%,

10/22/2036

(e) 310

Secured

Overnight

Financing

Rate

+

1.31%

5.04%,

07/19/2030

(e) 260

Secured

Overnight

Financing

Rate

+

1.22%

5.12%,

02/01/2029

(e) 320

Secured

Overnight

Financing

Rate

+

1.73%

5.16%,

04/20/2029

(e) 260

Secured

Overnight

Financing

Rate

+

1.59%

5.17%,

01/16/2030

(e) 200

Secured

Overnight

Financing

Rate

+

1.45%

5.19%,

04/17/2031

(e) 440

Secured

Overnight

Financing

Rate

+

1.51%

5.23%,

01/15/2031

(e) 225

Secured

Overnight

Financing

Rate

+

1.11%

5.25%,

04/21/2034

(e) 425

Secured

Overnight

Financing

Rate

+

1.87%

5.32%,

07/19/2035

(e) 335

Secured

Overnight

Financing

Rate

+

1.56%

5.42%,

07/21/2034

(e) 315

Secured

Overnight

Financing

Rate

+

1.88%

5.45%,

07/20/2029

(e) 315

Secured

Overnight

Financing

Rate

+

1.63%

5.47%,

01/18/2035

(e) 325

Secured

Overnight

Financing

Rate

+

1.73%

5.52%,

11/19/2055

(e) 275

Secured

Overnight

Financing

Rate

+

1.71%

5.59%,

01/18/2036

(e) 420

Secured

Overnight

Financing

Rate

+

1.42%

5.60%,

03/24/2051

(e) 200

Secured

Overnight

Financing

Rate

+

4.84%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Morgan

Stanley

(continued)

5.65%,

04/13/2028

(e) $

$

Secured

Overnight

Financing

Rate

+

1.01%

5.66%,

04/18/2030

(e) 250

Secured

Overnight

Financing

Rate

+

1.26%

5.66%,

04/17/2036

(e) 245

Secured

Overnight

Financing

Rate

+

1.76%

5.83%,

04/19/2035

(e) 275

Secured

Overnight

Financing

Rate

+

1.58%

5.95%,

01/19/2038

(e) 160

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.43%

6.30%,

10/18/2028

(e) 310

Secured

Overnight

Financing

Rate

+

2.24%

6.34%,

10/18/2033

(e) 310

Secured

Overnight

Financing

Rate

+

2.56%

6.38%,

07/24/2042

6.41%,

11/01/2029

(e) 280

Secured

Overnight

Financing

Rate

+

1.83%

6.63%,

11/01/2034

(e) 180

Secured

Overnight

Financing

Rate

+

2.05%

Morgan

Stanley

Bank

NA

4.97%,

07/14/2028

(e) 260

Secured

Overnight

Financing

Rate

+

0.93%

5.02%,

01/12/2029

(e) 320

Secured

Overnight

Financing

Rate

+

0.91%

Morgan

Stanley

Private

Bank

NA

4.20%,

11/17/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.78%

4.47%,

11/19/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.02%

4.73%,

07/18/2031

(e) 250

Secured

Overnight

Financing

Rate

+

1.08%

National

Australia

Bank

Ltd/New

York

4.53%,

06/13/2030

4.79%,

01/10/2029

500

513

5.09%,

06/11/2027

NatWest

Group

PLC

4.89%,

05/18/2029

(e) 500

509

Month

USD

LIBOR

+

1.75%

5.08%,

01/27/2030

(e) 400

Month

USD

LIBOR

+

1.91%

5.12%,

05/23/2031

(e) 400

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.05%

5.78%,

03/01/2035

(e) 200

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.50%

Oesterreichische

Kontrollbank

AG

3.63%,

09/09/2027

3.75%,

09/05/2029

3.75%,

09/10/2030

4.00%,

05/28/2028

4.25%,

03/01/2028

4.50%,

01/24/2030

4.75%,

05/21/2027

PNC

Financial

Services

Group

Inc/The

2.31%,

04/23/2032

(e) 245

Secured

Overnight

Financing

Rate

+

0.98%

2.55%,

01/22/2030

3.45%,

04/23/2029

4.63%,

06/06/2033

(e) 160

Secured

Overnight

Financing

Rate

+

1.85%

4.90%,

05/13/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.33%

5.22%,

01/29/2031

(e) 295

Secured

Overnight

Financing

Rate

+

1.07%

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

PNC

Financial

Services

Group

Inc/The

(continued)

5.30%,

01/21/2028

(e) $

$

Secured

Overnight

Financing

Rate

+

1.34%

5.35%,

12/02/2028

(e) 410

Secured

Overnight

Financing

Rate

+

1.62%

5.37%,

07/21/2036

(e) 220

Secured

Overnight

Financing

Rate

+

1.42%

5.40%,

07/23/2035

(e) 285

Secured

Overnight

Financing

Rate

+

1.60%

5.68%,

01/22/2035

(e) 240

Secured

Overnight

Financing

Rate

+

1.90%

5.94%,

08/18/2034

(e) 315

Secured

Overnight

Financing

Rate

+

1.95%

Royal

Bank

of

Canada

3.63%,

05/04/2027

3.88%,

05/04/2032

4.00%,

11/03/2028

(e) 160

Secured

Overnight

Financing

Rate

+

0.70%

4.31%,

11/03/2031

(e) 160

Secured

Overnight

Financing

Rate

+

0.98%

4.50%,

08/06/2029

(e) 155

Secured

Overnight

Financing

Rate

+

0.89%

4.65%,

10/18/2030

(e) 200

Secured

Overnight

Financing

Rate

+

1.08%

4.90%,

01/12/2028

4.95%,

02/01/2029

4.97%,

01/24/2029

(e) 215

Secured

Overnight

Financing

Rate

+

0.83%

4.97%,

05/02/2031

(d),(e)

Secured

Overnight

Financing

Rate

+

1.13%

5.00%,

05/02/2033

5.15%,

02/04/2031

(e) 215

Secured

Overnight

Financing

Rate

+

1.03%

6.00%,

11/01/2027

Santander

Holdings

USA

Inc

2.49%,

01/06/2028

(d),(e)

Secured

Overnight

Financing

Rate

+

1.25%

5.35%,

09/06/2030

(e) 325

Secured

Overnight

Financing

Rate

+

1.94%

5.47%,

03/20/2029

(e) 155

Secured

Overnight

Financing

Rate

+

1.61%

Santander

UK

Group

Holdings

PLC

2.47%,

01/11/2028

(e) 200

Secured

Overnight

Financing

Rate

+

1.22%

4.32%,

09/22/2029

(e) 315

Secured

Overnight

Financing

Rate

+

1.07%

State

Street

Corp

2.20%,

02/07/2028

(e) 65

Secured

Overnight

Financing

Rate

+

0.73%

2.20%,

03/03/2031

4.33%,

10/22/2027

4.42%,

05/13/2033

(e) 135

Secured

Overnight

Financing

Rate

+

1.61%

4.53%,

02/20/2029

(e) 310

Secured

Overnight

Financing

Rate

+

1.02%

4.54%,

02/28/2028

4.68%,

10/22/2032

(e) 135

Secured

Overnight

Financing

Rate

+

1.05%

4.78%,

10/23/2036

(e) 95

Secured

Overnight

Financing

Rate

+

1.22%

4.82%,

01/26/2034

(e) 245

Secured

Overnight

Financing

Rate

+

1.57%

4.83%,

04/24/2030

5.15%,

02/28/2036

(e) 150

Secured

Overnight

Financing

Rate

+

1.22%

5.68%,

11/21/2029

(e) 140

Secured

Overnight

Financing

Rate

+

1.48%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Sumitomo

Mitsui

Financial

Group

Inc

2.13%,

07/08/2030

$

$

2.14%,

09/23/2030

2.93%,

09/17/2041

3.04%,

07/16/2029

3.36%,

07/12/2027

3.45%,

01/11/2027

4.66%,

07/08/2031

(e) 300

Secured

Overnight

Financing

Rate

+

1.19%

5.24%,

04/15/2030

5.32%,

07/09/2029

5.42%,

07/09/2031

5.52%,

01/13/2028

5.63%,

01/15/2035

5.77%,

01/13/2033

5.80%,

07/13/2028

5.80%,

07/08/2046

(e) 245

Secured

Overnight

Financing

Rate

+

1.78%

5.81%,

09/14/2033

6.18%,

07/13/2043

Toronto-Dominion

Bank/The

1.95%,

01/12/2027

2.00%,

09/10/2031

3.20%,

03/10/2032

4.11%,

06/08/2027

4.46%,

06/08/2032

4.57%,

12/17/2026

4.57%,

06/02/2028

4.69%,

09/15/2027

4.78%,

12/17/2029

4.81%,

06/03/2030

4.93%,

10/15/2035

4.99%,

04/05/2029

5.30%,

01/30/2032

5.52%,

07/17/2028

Truist

Bank

2.25%,

03/11/2030

500

Truist

Financial

Corp

1.89%,

06/07/2029

(e) 130

Secured

Overnight

Financing

Rate

+

0.86%

1.95%,

06/05/2030

4.12%,

06/06/2028

(e) 290

Secured

Overnight

Financing

Rate

+

1.37%

4.87%,

01/26/2029

(e) 160

Secured

Overnight

Financing

Rate

+

1.44%

4.96%,

10/23/2036

(e) 310

Secured

Overnight

Financing

Rate

+

1.40%

5.07%,

05/20/2031

(e) 155

Secured

Overnight

Financing

Rate

+

1.31%

5.12%,

01/26/2034

(e) 160

Secured

Overnight

Financing

Rate

+

1.85%

5.15%,

08/05/2032

(e) 290

Secured

Overnight

Financing

Rate

+

1.57%

5.44%,

01/24/2030

(e) 65

Secured

Overnight

Financing

Rate

+

1.62%

5.71%,

01/24/2035

(e) 245

Secured

Overnight

Financing

Rate

+

1.92%

5.87%,

06/08/2034

(e) 160

Secured

Overnight

Financing

Rate

+

2.36%

UBS

AG/Stamford

CT

4.86%,

01/10/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.72%

UBS

Group

AG

4.88%,

05/15/2045

US

Bancorp

1.38%,

07/22/2030

2.22%,

01/27/2028

(e) 275

Secured

Overnight

Financing

Rate

+

0.73%

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

US

Bancorp

(continued)

2.49%,

11/03/2036

(e) $

$

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

0.95%

3.15%,

04/27/2027

4.65%,

02/01/2029

(e) 285

Secured

Overnight

Financing

Rate

+

1.23%

4.84%,

02/01/2034

(e) 285

Secured

Overnight

Financing

Rate

+

1.60%

5.05%,

02/12/2031

(e) 285

Secured

Overnight

Financing

Rate

+

1.06%

5.08%,

05/15/2031

(e) 105

Secured

Overnight

Financing

Rate

+

1.30%

5.38%,

01/23/2030

(e) 55

Secured

Overnight

Financing

Rate

+

1.56%

5.68%,

01/23/2035

(e) 240

Secured

Overnight

Financing

Rate

+

1.86%

5.84%,

06/12/2034

(e) 320

Secured

Overnight

Financing

Rate

+

2.26%

5.85%,

10/21/2033

(e) 155

Secured

Overnight

Financing

Rate

+

2.09%

US

Bank

NA/Cincinnati

OH

4.73%,

05/15/2028

(e) 250

Secured

Overnight

Financing

Rate

+

0.91%

Wells

Fargo

&

Co

2.39%,

06/02/2028

(e) 220

Secured

Overnight

Financing

Rate

+

2.10%

2.57%,

02/11/2031

(e) 475

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.26%

2.88%,

10/30/2030

(e) 250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.43%

3.07%,

04/30/2041

(e) 485

Secured

Overnight

Financing

Rate

+

2.53%

3.35%,

03/02/2033

(e) 430

Secured

Overnight

Financing

Rate

+

1.50%

3.53%,

03/24/2028

(e) 385

Secured

Overnight

Financing

Rate

+

1.51%

3.58%,

05/22/2028

(e) 375

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.57%

4.08%,

09/15/2029

(e) 375

Secured

Overnight

Financing

Rate

+

0.88%

4.15%,

01/24/2029

4.40%,

06/14/2046

4.61%,

04/25/2053

(e) 335

Secured

Overnight

Financing

Rate

+

2.13%

4.65%,

11/04/2044

600

535

4.75%,

12/07/2046

4.81%,

07/25/2028

(e) 315

Secured

Overnight

Financing

Rate

+

1.98%

4.89%,

09/15/2036

(e) 255

Secured

Overnight

Financing

Rate

+

1.34%

4.90%,

01/24/2028

(e) 215

Secured

Overnight

Financing

Rate

+

0.78%

4.90%,

07/25/2033

(e) 485

Secured

Overnight

Financing

Rate

+

2.10%

4.90%,

11/17/2045

4.97%,

04/23/2029

(e) 155

Secured

Overnight

Financing

Rate

+

1.37%

5.01%,

04/04/2051

(e) 440

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

5.15%,

04/23/2031

(e) 595

616

Secured

Overnight

Financing

Rate

+

1.50%

5.20%,

01/23/2030

(e) 265

Secured

Overnight

Financing

Rate

+

1.50%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Wells

Fargo

&

Co

(continued)

5.21%,

12/03/2035

(e) $

$

Secured

Overnight

Financing

Rate

+

1.38%

5.24%,

01/24/2031

(e) 200

Secured

Overnight

Financing

Rate

+

1.11%

5.38%,

11/02/2043

5.39%,

04/24/2034

(e) 375

Secured

Overnight

Financing

Rate

+

2.02%

5.50%,

01/23/2035

(e) 265

Secured

Overnight

Financing

Rate

+

1.78%

5.56%,

07/25/2034

(e) 475

503

Secured

Overnight

Financing

Rate

+

1.99%

5.57%,

07/25/2029

(e) 475

Secured

Overnight

Financing

Rate

+

1.74%

5.61%,

04/23/2036

(e) 330

Secured

Overnight

Financing

Rate

+

1.74%

5.61%,

01/15/2044

5.71%,

04/22/2028

(e) 250

Secured

Overnight

Financing

Rate

+

1.07%

6.30%,

10/23/2029

(e) 320

Secured

Overnight

Financing

Rate

+

1.79%

6.49%,

10/23/2034

(e) 320

Secured

Overnight

Financing

Rate

+

2.06%

Wells

Fargo

Bank

NA

5.25%,

12/11/2026

Westpac

Banking

Corp

3.02%,

11/18/2036

(e) 405

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.53%

3.13%,

11/18/2041

4.11%,

07/24/2034

(e) 555

547

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

4.35%,

07/01/2030

(d) 425

5.05%,

04/16/2029

$

151,950

Beverages

-

.48

%

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.70%,

02/01/2036

575

575

4.90%,

02/01/2046

992

934

Anheuser-Busch

InBev

Worldwide

Inc

3.50%,

06/01/2030

4.75%,

01/23/2029

550

562

4.95%,

01/15/2042

5.00%,

06/15/2034

5.45%,

01/23/2039

5.55%,

01/23/2049

570

580

5.80%,

01/23/2059

8.20%,

01/15/2039

Coca-Cola

Co/The

1.50%,

03/05/2028

2.50%,

06/01/2040

2.50%,

03/15/2051

2.60%,

06/01/2050

2.88%,

05/05/2041

3.00%,

03/05/2051

4.65%,

08/14/2034

5.00%,

05/13/2034

5.20%,

01/14/2055

5.30%,

05/13/2054

Constellation

Brands

Inc

2.25%,

08/01/2031

3.15%,

08/01/2029

4.35%,

05/09/2027

4.90%,

05/01/2033

4.95%,

11/01/2035

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Beverages

(continued)

Diageo

Capital

PLC

2.38%,

10/24/2029

$

$

5.30%,

10/24/2027

5.63%,

10/05/2033

Keurig

Dr

Pepper

Inc

2.25%,

03/15/2031

3.35%,

03/15/2051

3.95%,

04/15/2029

735

726

4.05%,

04/15/2032

4.35%,

05/15/2028

4.50%,

04/15/2052

5.10%,

03/15/2027

5.15%,

05/15/2035

Molson

Coors

Beverage

Co

4.20%,

07/15/2046

PepsiCo

Inc

2.63%,

10/21/2041

725

534

2.75%,

10/21/2051

2.88%,

10/15/2049

3.00%,

10/15/2027

600

593

4.30%,

07/23/2030

4.45%,

02/07/2028

545

553

4.50%,

07/17/2029

4.65%,

07/23/2032

4.80%,

07/17/2034

5.00%,

02/07/2035

$

13,142

Biotechnology

-

.30

%

Amgen

Inc

1.65%,

08/15/2028

2.00%,

01/15/2032

2.45%,

02/21/2030

2.77%,

09/01/2053

510

3.00%,

02/22/2029

3.00%,

01/15/2052

3.15%,

02/21/2040

3.38%,

02/21/2050

545

4.20%,

03/01/2033

4.20%,

02/22/2052

4.40%,

05/01/2045

4.66%,

06/15/2051

4.88%,

03/01/2053

5.15%,

03/02/2028

5.15%,

11/15/2041

5.25%,

03/02/2030

5.25%,

03/02/2033

5.60%,

03/02/2043

5.65%,

03/02/2053

5.75%,

03/02/2063

Biogen

Inc

5.20%,

09/15/2045

Gilead

Sciences

Inc

1.65%,

10/01/2030

2.80%,

10/01/2050

2.95%,

03/01/2027

4.15%,

03/01/2047

4.50%,

02/01/2045

500

4.75%,

03/01/2046

580

537

5.10%,

06/15/2035

5.25%,

10/15/2033

5.50%,

11/15/2054

5.55%,

10/15/2053

Regeneron

Pharmaceuticals

Inc

1.75%,

09/15/2030

Royalty

Pharma

PLC

1.75%,

09/02/2027

655

629

2.20%,

09/02/2030

3.30%,

09/02/2040

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Biotechnology

(continued)

Royalty

Pharma

PLC

(continued)

5.95%,

09/25/2055

$

$

$

8,296

Building

Materials

-

.15

%

Carrier

Global

Corp

2.49%,

02/15/2027

2.72%,

02/15/2030

3.38%,

04/05/2040

3.58%,

04/05/2050

5.90%,

03/15/2034

6.20%,

03/15/2054

CRH

America

Finance

Inc

4.40%,

02/09/2031

5.50%,

01/09/2035

5.60%,

02/09/2056

Johnson

Controls

International

plc

/

Tyco

Fire

&

Security

Finance

SCA

2.00%,

09/16/2031

Martin

Marietta

Materials

Inc

2.50%,

03/15/2030

3.20%,

07/15/2051

5.15%,

12/01/2034

Masco

Corp

1.50%,

02/15/2028

Owens

Corning

4.30%,

07/15/2047

5.50%,

06/15/2027

5.70%,

06/15/2034

Trane

Technologies

Financing

Ltd

3.80%,

03/21/2029

5.10%,

06/13/2034

Vulcan

Materials

Co

3.50%,

06/01/2030

3.90%,

04/01/2027

5.35%,

12/01/2034

$

4,126

Chemicals

-

.26

%

Air

Products

and

Chemicals

Inc

2.80%,

05/15/2050

4.60%,

02/08/2029

4.80%,

03/03/2033

4.90%,

10/11/2032

Albemarle

Corp

5.45%,

12/01/2044

Dow

Chemical

Co/The

2.10%,

11/15/2030

3.60%,

11/15/2050

4.38%,

11/15/2042

4.63%,

10/01/2044

4.80%,

11/30/2028

4.80%,

05/15/2049

5.15%,

02/15/2034

(d) 130

5.65%,

03/15/2036

(d) 155

DuPont

de

Nemours

Inc

4.73%,

11/15/2028

(g) 302

Eastman

Chemical

Co

4.65%,

10/15/2044

Ecolab

Inc

1.30%,

01/30/2031

1.65%,

02/01/2027

2.75%,

08/18/2055

700

4.30%,

06/15/2028

5.00%,

09/01/2035

LYB

International

Finance

BV

5.25%,

07/15/2043

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Chemicals

(continued)

LYB

International

Finance

III

LLC

2.25%,

10/01/2030

$

$

3.63%,

04/01/2051

4.20%,

10/15/2049

5.63%,

05/15/2033

Mosaic

Co/The

5.63%,

11/15/2043

Nutrien

Ltd

4.20%,

04/01/2029

4.50%,

03/12/2027

5.00%,

04/01/2049

5.40%,

06/21/2034

5.80%,

03/27/2053

Sherwin-Williams

Co/The

2.20%,

03/15/2032

2.95%,

08/15/2029

3.30%,

05/15/2050

4.30%,

08/15/2028

4.50%,

06/01/2047

Westlake

Corp

3.13%,

08/15/2051

$

7,022

Commercial

Mortgage

Backed

Securities

-

.02

%

Fannie

Mae-Aces

3.09%,

12/25/2027

(h) 601

592

Commercial

Services

-

.15

%

American

University/The

3.67%,

04/01/2049

Global

Payments

Inc

3.20%,

08/15/2029

4.15%,

08/15/2049

4.50%,

11/15/2028

4.88%,

11/15/2030

5.20%,

11/15/2032

5.55%,

11/15/2035

Massachusetts

Institute

of

Technology

3.96%,

07/01/2038

4.68%,

07/01/2114

Moody's

Corp

4.25%,

08/08/2032

5.00%,

08/05/2034

5.25%,

07/15/2044

PayPal

Holdings

Inc

2.85%,

10/01/2029

755

723

3.90%,

06/01/2027

4.40%,

06/01/2032

5.50%,

06/01/2054

S&P

Global

Inc

1.25%,

08/15/2030

2.45%,

03/01/2027

2.50%,

12/01/2029

3.25%,

12/01/2049

3.70%,

03/01/2052

5.25%,

09/15/2033

TR

Finance

LLC

5.85%,

04/15/2040

University

of

Southern

California

5.25%,

10/01/2111

$

4,062

Computers

-

.55

%

Apple

Inc

1.20%,

02/08/2028

1.65%,

05/11/2030

550

501

2.40%,

08/20/2050

2.65%,

05/11/2050

600

2.65%,

02/08/2051

2.70%,

08/05/2051

2.80%,

02/08/2061

550

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Computers

(continued)

Apple

Inc

(continued)

2.90%,

09/12/2027

$

$

2.95%,

09/11/2049

3.00%,

06/20/2027

500

3.20%,

05/11/2027

3.35%,

02/09/2027

525

523

3.35%,

08/08/2032

500

3.75%,

11/13/2047

3.85%,

05/04/2043

3.95%,

08/08/2052

4.20%,

05/12/2030

4.38%,

05/13/2045

4.50%,

05/12/2032

4.65%,

02/23/2046

4.75%,

05/12/2035

4.85%,

05/10/2053

(d) 320

Dell

International

LLC

/

EMC

Corp

3.38%,

12/15/2041

3.45%,

12/15/2051

4.35%,

02/01/2030

535

535

4.50%,

02/15/2031

4.75%,

04/01/2028

5.10%,

02/15/2036

5.25%,

02/01/2028

5.30%,

10/01/2029

5.30%,

04/01/2032

5.40%,

04/15/2034

8.35%,

07/15/2046

Hewlett

Packard

Enterprise

Co

4.05%,

09/15/2027

4.55%,

10/15/2029

535

539

4.85%,

10/15/2031

5.00%,

10/15/2034

6.20%,

10/15/2035

6.35%,

10/15/2045

HP

Inc

3.00%,

06/17/2027

4.75%,

01/15/2028

501

6.00%,

09/15/2041

6.10%,

04/25/2035

(d) 150

IBM

International

Capital

Pte

Ltd

4.75%,

02/05/2031

4.90%,

02/05/2034

International

Business

Machines

Corp

2.20%,

02/09/2027

575

564

3.50%,

05/15/2029

4.00%,

06/20/2042

4.15%,

05/15/2039

4.25%,

05/15/2049

600

4.40%,

07/27/2032

4.50%,

02/06/2028

4.65%,

02/10/2028

4.70%,

02/19/2046

5.10%,

02/06/2053

5.70%,

02/10/2055

NetApp

Inc

2.38%,

06/22/2027

$

15,127

Consumer

Products

-

.03

%

Church

&

Dwight

Co

Inc

3.95%,

08/01/2047

Clorox

Co/The

1.80%,

05/15/2030

Kimberly-Clark

Corp

5.30%,

03/01/2041

$

783

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Cosmetics

&

Personal

Care

-

.19

%

Colgate-Palmolive

Co

4.20%,

05/01/2030

$

$

4.60%,

03/01/2028

Estee

Lauder

Cos

Inc/The

1.95%,

03/15/2031

2.38%,

12/01/2029

3.15%,

03/15/2027

Haleon

US

Capital

LLC

3.38%,

03/24/2027

3.63%,

03/24/2032

4.00%,

03/24/2052

Kenvue

Inc

4.85%,

05/22/2032

4.90%,

03/22/2033

5.05%,

03/22/2028

5.05%,

03/22/2053

(d) 330

5.10%,

03/22/2043

Procter

&

Gamble

Co/The

1.90%,

02/01/2027

540

529

3.55%,

03/25/2040

4.05%,

05/01/2030

4.10%,

11/03/2032

4.60%,

05/01/2035

Unilever

Capital

Corp

1.38%,

09/14/2030

1.75%,

08/12/2031

680

601

2.90%,

05/05/2027

4.63%,

08/12/2034

$

5,295

Diversified

Financial

Services

-

.78

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

3.00%,

10/29/2028

600

581

3.30%,

01/30/2032

3.40%,

10/29/2033

3.88%,

01/23/2028

4.38%,

11/15/2030

4.88%,

04/01/2028

4.95%,

09/10/2034

5.10%,

01/19/2029

5.38%,

12/15/2031

6.10%,

01/15/2027

Air

Lease

Corp

2.10%,

09/01/2028

2.88%,

01/15/2032

3.25%,

10/01/2029

5.10%,

03/01/2029

5.20%,

07/15/2031

Ally

Financial

Inc

2.20%,

11/02/2028

4.75%,

06/09/2027

5.55%,

07/31/2033

(e) 155

Secured

Overnight

Financing

Rate

+

1.78%

5.74%,

05/15/2029

(e) 170

Secured

Overnight

Financing

Rate

+

1.96%

8.00%,

11/01/2031

American

Express

Co

3.30%,

05/03/2027

4.05%,

05/03/2029

4.05%,

12/03/2042

4.73%,

04/25/2029

(e) 305

Secured

Overnight

Financing

Rate

+

1.26%

4.80%,

10/24/2036

(e) 155

Secured

Overnight

Financing

Rate

+

1.24%

4.92%,

07/20/2033

(e) 305

Secured

Overnight

Financing

Rate

+

1.22%

5.09%,

01/30/2031

(e) 215

Secured

Overnight

Financing

Rate

+

1.02%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

American

Express

Co

(continued)

5.10%,

02/16/2028

(e) $

$

Secured

Overnight

Financing

Rate

+

1.00%

5.28%,

07/27/2029

(e) 160

Secured

Overnight

Financing

Rate

+

1.28%

5.28%,

07/26/2035

(e) 345

Secured

Overnight

Financing

Rate

+

1.42%

5.53%,

04/25/2030

(e) 250

Secured

Overnight

Financing

Rate

+

1.09%

5.67%,

04/25/2036

(e) 155

Secured

Overnight

Financing

Rate

+

1.79%

6.49%,

10/30/2031

(e) 70

Secured

Overnight

Financing

Rate

+

1.94%

BlackRock

Funding

Inc

4.90%,

01/08/2035

5.35%,

01/08/2055

Blackrock

Inc

2.10%,

02/25/2032

2.40%,

04/30/2030

Capital

One

Financial

Corp

2.36%,

07/29/2032

(e) 255

Secured

Overnight

Financing

Rate

+

1.34%

4.10%,

02/09/2027

4.49%,

09/11/2031

(e) 300

Secured

Overnight

Financing

Rate

+

1.25%

4.93%,

05/10/2028

(e) 220

Secured

Overnight

Financing

Rate

+

2.06%

5.20%,

09/11/2036

(e) 255

Secured

Overnight

Financing

Rate

+

1.63%

5.46%,

07/26/2030

(e) 140

Secured

Overnight

Financing

Rate

+

1.56%

5.70%,

02/01/2030

(e) 135

Secured

Overnight

Financing

Rate

+

1.91%

5.82%,

02/01/2034

(e) 160

Secured

Overnight

Financing

Rate

+

2.60%

5.88%,

07/26/2035

(e) 140

Secured

Overnight

Financing

Rate

+

1.99%

6.05%,

02/01/2035

(e) 245

Secured

Overnight

Financing

Rate

+

2.26%

6.18%,

01/30/2036

(e) 145

Secured

Overnight

Financing

Rate

+

2.04%

6.31%,

06/08/2029

(e) 360

Secured

Overnight

Financing

Rate

+

2.64%

7.62%,

10/30/2031

(e) 210

Secured

Overnight

Financing

Rate

+

3.07%

Charles

Schwab

Corp/The

1.65%,

03/11/2031

1.95%,

12/01/2031

2.00%,

03/20/2028

4.91%,

11/14/2036

(e) 145

Secured

Overnight

Financing

Rate

+

1.23%

5.64%,

05/19/2029

(e) 160

Secured

Overnight

Financing

Rate

+

2.21%

6.14%,

08/24/2034

(e) 155

Secured

Overnight

Financing

Rate

+

2.01%

6.20%,

11/17/2029

(e) 140

Secured

Overnight

Financing

Rate

+

1.88%

CME

Group

Inc

5.30%,

09/15/2043

Intercontinental

Exchange

Inc

1.85%,

09/15/2032

2.10%,

06/15/2030

2.65%,

09/15/2040

3.00%,

09/15/2060

3.75%,

09/21/2028

3.95%,

12/01/2028

4.00%,

09/15/2027

4.25%,

09/21/2048

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Intercontinental

Exchange

Inc

(continued)

4.60%,

03/15/2033

$

$

4.95%,

06/15/2052

Jefferies

Financial

Group

Inc

2.63%,

10/15/2031

2.75%,

10/15/2032

4.15%,

01/23/2030

Legg

Mason

Inc

5.63%,

01/15/2044

Mastercard

Inc

2.00%,

11/18/2031

2.95%,

03/15/2051

3.35%,

03/26/2030

3.85%,

03/26/2050

4.55%,

03/15/2028

4.55%,

01/15/2035

4.88%,

03/09/2028

Nasdaq

Inc

2.50%,

12/21/2040

5.35%,

06/28/2028

5.95%,

08/15/2053

Nomura

Holdings

Inc

2.33%,

01/22/2027

2.68%,

07/16/2030

4.90%,

07/01/2030

5.84%,

01/18/2028

(d) 320

6.09%,

07/12/2033

Synchrony

Financial

3.95%,

12/01/2027

5.02%,

07/29/2029

(e) 155

Secured

Overnight

Financing

Rate

+

1.40%

Visa

Inc

1.10%,

02/15/2031

1.90%,

04/15/2027

2.00%,

08/15/2050

2.70%,

04/15/2040

2.75%,

09/15/2027

4.15%,

12/14/2035

500

4.30%,

12/14/2045

$

21,240

Electric

-

.96

%

AEP

Texas

Inc

2.10%,

07/01/2030

3.45%,

01/15/2050

3.45%,

05/15/2051

4.70%,

05/15/2032

5.25%,

05/15/2052

AEP

Transmission

Co

LLC

2.75%,

08/15/2051

4.00%,

12/01/2046

4.50%,

06/15/2052

5.40%,

03/15/2053

AES

Corp/The

2.45%,

01/15/2031

Alabama

Power

Co

1.45%,

09/15/2030

3.13%,

07/15/2051

4.30%,

03/15/2031

Ameren

Corp

1.75%,

03/15/2028

5.00%,

01/15/2029

5.70%,

12/01/2026

Ameren

Illinois

Co

1.55%,

11/15/2030

3.25%,

03/15/2050

3.85%,

09/01/2032

4.15%,

03/15/2046

5.63%,

03/01/2055

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

American

Electric

Power

Co

Inc

2.30%,

03/01/2030

$

$

5.63%,

03/01/2033

6.05%,

03/15/2056

(e) 160

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.94%

Arizona

Public

Service

Co

2.60%,

08/15/2029

2.65%,

09/15/2050

5.90%,

08/15/2055

Baltimore

Gas

and

Electric

Co

2.25%,

06/15/2031

4.55%,

06/01/2052

5.45%,

06/01/2035

5.65%,

06/01/2054

Berkshire

Hathaway

Energy

Co

1.65%,

05/15/2031

2.85%,

05/15/2051

3.80%,

07/15/2048

4.60%,

05/01/2053

5.15%,

11/15/2043

(d) 200

6.13%,

04/01/2036

CenterPoint

Energy

Houston

Electric

LLC

3.35%,

04/01/2051

4.25%,

02/01/2049

4.95%,

04/01/2033

4.95%,

08/15/2035

5.20%,

10/01/2028

CenterPoint

Energy

Inc

2.95%,

03/01/2030

CMS

Energy

Corp

3.75%,

12/01/2050

(e) 60

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

Commonwealth

Edison

Co

3.00%,

03/01/2050

3.13%,

03/15/2051

4.00%,

03/01/2048

5.30%,

06/01/2034

5.30%,

02/01/2053

5.65%,

06/01/2054

5.95%,

06/01/2055

Connecticut

Light

and

Power

Co/The

2.05%,

07/01/2031

3.20%,

03/15/2027

4.00%,

04/01/2048

4.95%,

01/15/2030

Consolidated

Edison

Co

of

New

York

Inc

2.40%,

06/15/2031

3.00%,

12/01/2060

3.70%,

11/15/2059

3.88%,

06/15/2047

4.30%,

12/01/2056

5.20%,

03/01/2033

5.30%,

03/01/2035

5.75%,

11/15/2055

6.15%,

11/15/2052

6.30%,

08/15/2037

6.75%,

04/01/2038

Consumers

Energy

Co

4.35%,

04/15/2049

4.50%,

01/15/2031

4.60%,

05/30/2029

4.70%,

01/15/2030

4.90%,

02/15/2029

5.05%,

05/15/2035

Dayton

Power

&

Light

Co/The

4.55%,

08/15/2030

(g) 50

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Dominion

Energy

Inc

3.30%,

04/15/2041

$

$

3.38%,

04/01/2030

4.60%,

05/15/2028

4.90%,

08/01/2041

5.38%,

11/15/2032

5.45%,

03/15/2035

5.95%,

06/15/2035

DTE

Electric

Co

1.90%,

04/01/2028

3.70%,

03/15/2045

5.20%,

03/01/2034

5.25%,

05/15/2035

5.40%,

04/01/2053

DTE

Energy

Co

4.88%,

06/01/2028

4.95%,

07/01/2027

5.05%,

10/01/2035

5.20%,

04/01/2030

Duke

Energy

Carolinas

LLC

4.00%,

09/30/2042

4.95%,

01/15/2033

5.25%,

03/15/2035

5.30%,

02/15/2040

5.35%,

01/15/2053

5.40%,

01/15/2054

6.05%,

04/15/2038

Duke

Energy

Corp

3.15%,

08/15/2027

3.30%,

06/15/2041

3.50%,

06/15/2051

3.95%,

08/15/2047

4.20%,

06/15/2049

4.50%,

08/15/2032

4.80%,

12/15/2045

4.85%,

01/05/2029

4.95%,

09/15/2035

5.00%,

08/15/2052

5.45%,

06/15/2034

5.70%,

09/15/2055

5.80%,

06/15/2054

6.10%,

09/15/2053

Duke

Energy

Florida

LLC

1.75%,

06/15/2030

2.50%,

12/01/2029

3.20%,

01/15/2027

3.40%,

10/01/2046

4.20%,

12/01/2030

5.88%,

11/15/2033

5.95%,

11/15/2052

6.40%,

06/15/2038

Duke

Energy

Indiana

LLC

2.75%,

04/01/2050

5.40%,

04/01/2053

5.90%,

05/15/2055

Duke

Energy

Progress

LLC

2.50%,

08/15/2050

5.55%,

03/15/2055

Emera

US

Finance

LP

4.75%,

06/15/2046

Entergy

Arkansas

LLC

2.65%,

06/15/2051

4.20%,

04/01/2049

5.15%,

01/15/2033

Entergy

Corp

1.90%,

06/15/2028

2.40%,

06/15/2031

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Entergy

Louisiana

LLC

2.90%,

03/15/2051

$

$

3.10%,

06/15/2041

3.12%,

09/01/2027

4.75%,

09/15/2052

5.15%,

09/15/2034

5.80%,

03/15/2055

Entergy

Texas

Inc

1.75%,

03/15/2031

4.00%,

03/30/2029

Evergy

Kansas

Central

Inc

5.25%,

03/15/2035

5.70%,

03/15/2053

Evergy

Metro

Inc

2.25%,

06/01/2030

5.13%,

08/15/2035

Eversource

Energy

1.65%,

08/15/2030

4.45%,

12/15/2030

5.00%,

01/01/2027

5.13%,

05/15/2033

Exelon

Corp

3.35%,

03/15/2032

5.13%,

03/15/2031

5.15%,

03/15/2029

6.50%,

03/15/2055

(e) 225

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.98%

FirstEnergy

Transmission

LLC

4.75%,

01/15/2033

(g) 155

Florida

Power

&

Light

Co

2.45%,

02/03/2032

2.88%,

12/04/2051

3.70%,

12/01/2047

4.05%,

10/01/2044

4.13%,

02/01/2042

4.40%,

05/15/2028

4.80%,

05/15/2033

5.10%,

04/01/2033

5.30%,

06/15/2034

5.60%,

06/15/2054

5.65%,

02/01/2037

5.70%,

03/15/2055

Georgia

Power

Co

4.30%,

03/15/2042

4.55%,

03/15/2030

4.65%,

05/16/2028

4.70%,

05/15/2032

5.50%,

10/01/2055

Interstate

Power

and

Light

Co

2.30%,

06/01/2030

5.60%,

06/29/2035

5.60%,

10/01/2055

Jersey

Central

Power

&

Light

Co

4.40%,

01/15/2031

(g) 155

Kentucky

Utilities

Co

3.30%,

06/01/2050

5.85%,

08/15/2055

MidAmerican

Energy

Co

3.15%,

04/15/2050

4.25%,

07/15/2049

5.30%,

02/01/2055

Mississippi

Power

Co

4.25%,

03/15/2042

National

Rural

Utilities

Cooperative

Finance

Corp

4.12%,

09/16/2027

4.15%,

08/25/2028

4.15%,

12/15/2032

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

National

Rural

Utilities

Cooperative

Finance

Corp

(continued)

4.80%,

03/15/2028

$

$

5.00%,

02/07/2031

5.15%,

06/15/2029

Nevada

Power

Co

2.40%,

05/01/2030

NextEra

Energy

Capital

Holdings

Inc

1.90%,

06/15/2028

2.25%,

06/01/2030

2.75%,

11/01/2029

3.55%,

05/01/2027

4.69%,

09/01/2027

4.90%,

02/28/2028

4.90%,

03/15/2029

5.00%,

07/15/2032

5.05%,

03/15/2030

5.25%,

03/15/2034

5.25%,

02/28/2053

5.45%,

03/15/2035

5.90%,

03/15/2055

6.50%,

08/15/2055

(e) 285

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.98%

Northern

States

Power

Co/MN

2.25%,

04/01/2031

2.60%,

06/01/2051

2.90%,

03/01/2050

5.05%,

05/15/2035

5.10%,

05/15/2053

5.35%,

11/01/2039

5.65%,

05/15/2055

NSTAR

Electric

Co

4.55%,

06/01/2052

4.95%,

09/15/2052

5.20%,

03/01/2035

5.40%,

06/01/2034

Ohio

Power

Co

1.63%,

01/15/2031

Oncor

Electric

Delivery

Co

LLC

3.10%,

09/15/2049

4.15%,

06/01/2032

4.30%,

05/15/2028

4.50%,

03/20/2027

(g) 155

4.55%,

09/15/2032

4.60%,

06/01/2052

4.65%,

11/01/2029

5.55%,

06/15/2054

Pacific

Gas

and

Electric

Co

2.10%,

08/01/2027

605

584

2.50%,

02/01/2031

3.30%,

08/01/2040

3.50%,

08/01/2050

850

585

4.20%,

06/01/2041

5.05%,

10/15/2032

5.70%,

03/01/2035

5.80%,

05/15/2034

5.90%,

06/15/2032

5.90%,

10/01/2054

6.10%,

01/15/2029

6.75%,

01/15/2053

PacifiCorp

2.90%,

06/15/2052

5.30%,

02/15/2031

5.35%,

12/01/2053

5.50%,

05/15/2054

6.00%,

01/15/2039

6.25%,

10/15/2037

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

PECO

Energy

Co

2.80%,

06/15/2050

$

$

2.85%,

09/15/2051

4.38%,

08/15/2052

4.60%,

05/15/2052

4.88%,

09/15/2035

PPL

Capital

Funding

Inc

5.25%,

09/01/2034

PPL

Electric

Utilities

Corp

3.00%,

10/01/2049

3.95%,

06/01/2047

4.85%,

02/15/2034

5.00%,

05/15/2033

Public

Service

Co

of

Colorado

1.88%,

06/15/2031

2.70%,

01/15/2051

3.20%,

03/01/2050

5.15%,

09/15/2035

5.25%,

04/01/2053

5.35%,

05/15/2034

5.85%,

05/15/2055

Public

Service

Co

of

New

Hampshire

4.40%,

07/01/2028

Public

Service

Co

of

Oklahoma

5.20%,

01/15/2035

5.25%,

01/15/2033

Public

Service

Electric

and

Gas

Co

3.15%,

01/01/2050

3.65%,

09/01/2028

3.80%,

03/01/2046

4.85%,

08/01/2034

4.90%,

08/15/2035

5.30%,

08/01/2054

5.45%,

08/01/2053

Public

Service

Enterprise

Group

Inc

4.90%,

03/15/2030

5.88%,

10/15/2028

6.13%,

10/15/2033

Puget

Sound

Energy

Inc

2.89%,

09/15/2051

5.60%,

09/15/2055

San

Diego

Gas

&

Electric

Co

1.70%,

10/01/2030

3.32%,

04/15/2050

3.70%,

03/15/2052

4.50%,

08/15/2040

Sempra

4.00%,

02/01/2048

6.55%,

04/01/2055

(e) 380

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.14%

Southern

California

Edison

Co

2.25%,

06/01/2030

2.85%,

08/01/2029

3.45%,

02/01/2052

3.65%,

02/01/2050

4.00%,

04/01/2047

4.70%,

06/01/2027

4.88%,

02/01/2027

5.25%,

03/15/2030

5.30%,

03/01/2028

5.45%,

06/01/2031

5.45%,

03/01/2035

5.50%,

03/15/2040

5.65%,

10/01/2028

5.70%,

03/01/2053

5.85%,

11/01/2027

5.90%,

03/01/2055

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Southern

California

Edison

Co

(continued)

5.95%,

02/01/2038

$

$

Southern

Co/The

1.75%,

03/15/2028

4.40%,

07/01/2046

5.20%,

06/15/2033

5.50%,

03/15/2029

5.70%,

10/15/2032

5.70%,

03/15/2034

Southern

Power

Co

4.90%,

10/01/2035

4.95%,

12/15/2046

Southwestern

Electric

Power

Co

4.10%,

09/15/2028

Southwestern

Public

Service

Co

4.50%,

08/15/2041

6.00%,

06/01/2054

Tampa

Electric

Co

3.45%,

03/15/2051

Tucson

Electric

Power

Co

1.50%,

08/01/2030

3.25%,

05/01/2051

Union

Electric

Co

2.15%,

03/15/2032

2.63%,

03/15/2051

5.45%,

03/15/2053

Virginia

Electric

and

Power

Co

2.30%,

11/15/2031

2.45%,

12/15/2050

2.95%,

11/15/2051

3.75%,

05/15/2027

5.05%,

08/15/2034

5.45%,

04/01/2053

5.55%,

08/15/2054

5.60%,

09/15/2055

8.88%,

11/15/2038

WEC

Energy

Group

Inc

1.38%,

10/15/2027

2.20%,

12/15/2028

Wisconsin

Electric

Power

Co

4.15%,

10/15/2030

4.75%,

09/30/2032

Wisconsin

Public

Service

Corp

4.55%,

12/01/2029

Xcel

Energy

Inc

1.75%,

03/15/2027

2.60%,

12/01/2029

4.60%,

06/01/2032

4.75%,

03/21/2028

$

53,503

Electrical

Components

&

Equipment

-

.02

%

Emerson

Electric

Co

2.20%,

12/21/2031

Electronics

-

.12

%

Amphenol

Corp

3.90%,

11/15/2028

4.13%,

11/15/2030

4.40%,

02/15/2033

5.00%,

01/15/2035

5.05%,

04/05/2027

5.30%,

11/15/2055

Honeywell

International

Inc

1.10%,

03/01/2027

1.75%,

09/01/2031

1.95%,

06/01/2030

3.81%,

11/21/2047

4.25%,

01/15/2029

4.70%,

02/01/2030

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electronics

(continued)

Honeywell

International

Inc

(continued)

5.00%,

02/15/2033

$

$

5.00%,

03/01/2035

5.25%,

03/01/2054

Tyco

Electronics

Group

SA

7.13%,

10/01/2037

$

3,226

Environmental

Control

-

.18

%

Republic

Services

Inc

1.75%,

02/15/2032

2.30%,

03/01/2030

685

638

3.38%,

11/15/2027

5.00%,

11/15/2029

5.00%,

04/01/2034

5.15%,

03/15/2035

Waste

Connections

Inc

2.20%,

01/15/2032

4.20%,

01/15/2033

Waste

Management

Inc

2.00%,

06/01/2029

2.50%,

11/15/2050

3.15%,

11/15/2027

790

779

4.15%,

04/15/2032

4.63%,

02/15/2033

4.65%,

03/15/2030

4.88%,

02/15/2029

4.95%,

07/03/2031

4.95%,

03/15/2035

5.35%,

10/15/2054

$

4,861

Finance

-

Mortgage

Loan/Banker

-

.29

%

Fannie

Mae

0.75%,

10/08/2027

0.88%,

08/05/2030

510

5.63%,

07/15/2037

6.25%,

05/15/2029

750

816

6.63%,

11/15/2030

7.13%,

01/15/2030

7.25%,

05/15/2030

Federal

Home

Loan

Banks

1.25%,

12/21/2026

3.25%,

11/16/2028

950

945

3.50%,

09/09/2027

3.50%,

10/04/2027

3.88%,

06/04/2027

4.00%,

03/10/2027

845

849

4.00%,

06/30/2028

4.13%,

01/15/2027

4.75%,

04/09/2027

5.50%,

07/15/2036

Freddie

Mac

6.25%,

07/15/2032

6.75%,

03/15/2031

543

623

$

7,899

Food

-

.37

%

Campbell's

Company/The

4.15%,

03/15/2028

Conagra

Brands

Inc

1.38%,

11/01/2027

4.85%,

11/01/2028

5.30%,

11/01/2038

5.40%,

11/01/2048

General

Mills

Inc

2.25%,

10/14/2031

775

690

4.88%,

01/30/2030

4.95%,

03/29/2033

5.50%,

10/17/2028

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Food

(continued)

Hershey

Co/The

2.65%,

06/01/2050

$

$

J

M

Smucker

Co/The

2.13%,

03/15/2032

5.90%,

11/15/2028

6.50%,

11/15/2043

JBS

USA

Holding

Lux

Sarl

/

JBS

USA

Foods

Group

Holdings

Inc

/

JBS

USA

Food

Co

5.50%,

01/15/2036

(g) 355

6.25%,

03/01/2056

(g) 205

6.38%,

04/15/2066

(g) 155

JBS

USA

Holding

Lux

Sarl/

JBS

USA

Food

Co/

JBS

Lux

Co

Sarl

5.75%,

04/01/2033

6.50%,

12/01/2052

6.75%,

03/15/2034

JBS

USA

LUX

Sarl

/

JBS

USA

Food

Co

/

JBS

USA

Foods

Group

6.38%,

02/25/2055

(g) 215

Kellanova

2.10%,

06/01/2030

Koninklijke

Ahold

Delhaize

NV

5.70%,

10/01/2040

Kraft

Heinz

Foods

Co

4.38%,

06/01/2046

4.88%,

10/01/2049

5.00%,

06/04/2042

5.20%,

03/15/2032

5.20%,

07/15/2045

6.50%,

02/09/2040

Kroger

Co/The

1.70%,

01/15/2031

3.70%,

08/01/2027

700

697

4.45%,

02/01/2047

5.00%,

09/15/2034

5.15%,

08/01/2043

5.40%,

07/15/2040

5.50%,

09/15/2054

5.65%,

09/15/2064

McCormick

&

Co

Inc/MD

1.85%,

02/15/2031

Mondelez

International

Inc

1.50%,

02/04/2031

2.63%,

03/17/2027

2.63%,

09/04/2050

4.25%,

05/06/2028

4.50%,

05/06/2030

4.75%,

08/28/2034

Sysco

Corp

2.40%,

02/15/2030

2.45%,

12/14/2031

4.85%,

10/01/2045

5.40%,

03/23/2035

5.75%,

01/17/2029

Tyson

Foods

Inc

3.55%,

06/02/2027

4.55%,

06/02/2047

$

10,048

Forest

Products

&

Paper

-

.02

%

Georgia-Pacific

LLC

7.75%,

11/15/2029

International

Paper

Co

4.80%,

06/15/2044

Suzano

Austria

GmbH

2.50%,

09/15/2028

Suzano

Netherlands

BV

5.50%,

01/15/2036

$

563

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Gas

-

.14

%

Atmos

Energy

Corp

1.50%,

01/15/2031

$

$

3.38%,

09/15/2049

4.13%,

10/15/2044

5.45%,

01/15/2056

5.75%,

10/15/2052

5.90%,

11/15/2033

6.20%,

11/15/2053

CenterPoint

Energy

Resources

Corp

1.75%,

10/01/2030

4.40%,

07/01/2032

5.25%,

03/01/2028

NiSource

Inc

3.60%,

05/01/2030

5.00%,

06/15/2052

5.25%,

03/30/2028

5.35%,

07/15/2035

5.40%,

06/30/2033

5.65%,

02/01/2045

5.85%,

04/01/2055

Southern

California

Gas

Co

2.55%,

02/01/2030

5.05%,

09/01/2034

5.45%,

06/15/2035

5.75%,

06/01/2053

6.00%,

06/15/2055

Southern

Co

Gas

Capital

Corp

1.75%,

01/15/2031

3.15%,

09/30/2051

5.10%,

09/15/2035

$

3,927

Hand

&

Machine

Tools

-

.03

%

Stanley

Black

&

Decker

Inc

2.30%,

03/15/2030

700

640

2.75%,

11/15/2050

$

691

Healthcare

-

Products

-

.34

%

Abbott

Laboratories

4.75%,

11/30/2036

4.75%,

04/15/2043

4.90%,

11/30/2046

5.30%,

05/27/2040

Agilent

Technologies

Inc

2.10%,

06/04/2030

2.30%,

03/12/2031

Baxter

International

Inc

1.73%,

04/01/2031

1.92%,

02/01/2027

2.27%,

12/01/2028

665

626

2.54%,

02/01/2032

3.13%,

12/01/2051

Boston

Scientific

Corp

2.65%,

06/01/2030

Danaher

Corp

2.60%,

10/01/2050

DH

Europe

Finance

II

Sarl

2.60%,

11/15/2029

3.25%,

11/15/2039

GE

HealthCare

Technologies

Inc

4.80%,

08/14/2029

5.50%,

06/15/2035

5.65%,

11/15/2027

5.86%,

03/15/2030

5.91%,

11/22/2032

6.38%,

11/22/2052

Koninklijke

Philips

NV

5.00%,

03/15/2042

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Products

(continued)

Medtronic

Global

Holdings

SCA

4.25%,

03/30/2028

$

$

Medtronic

Inc

4.38%,

03/15/2035

500

4.63%,

03/15/2045

Revvity

Inc

1.90%,

09/15/2028

Stryker

Corp

1.95%,

06/15/2030

600

546

4.38%,

05/15/2044

4.63%,

03/15/2046

4.70%,

02/10/2028

545

554

4.85%,

12/08/2028

5.20%,

02/10/2035

Thermo

Fisher

Scientific

Inc

2.00%,

10/15/2031

2.60%,

10/01/2029

2.80%,

10/15/2041

650

4.20%,

03/01/2031

4.79%,

10/07/2035

4.80%,

11/21/2027

5.09%,

08/10/2033

5.40%,

08/10/2043

Zimmer

Biomet

Holdings

Inc

2.60%,

11/24/2031

$

9,189

Healthcare

-

Services

-

.76

%

Advocate

Health

&

Hospitals

Corp

3.83%,

08/15/2028

Aetna

Inc

6.75%,

12/15/2037

Baylor

Scott

&

White

Holdings

4.19%,

11/15/2045

Centene

Corp

3.38%,

02/15/2030

600

551

4.63%,

12/15/2029

815

788

Cigna

Group/The

2.40%,

03/15/2030

3.20%,

03/15/2040

3.40%,

03/01/2027

3.40%,

03/15/2051

3.88%,

10/15/2047

4.38%,

10/15/2028

4.80%,

08/15/2038

4.88%,

09/15/2032

5.13%,

05/15/2031

5.25%,

01/15/2036

5.60%,

02/15/2054

6.00%,

01/15/2056

Elevance

Health

Inc

3.13%,

05/15/2050

3.60%,

03/15/2051

4.10%,

03/01/2028

4.38%,

12/01/2047

4.60%,

09/15/2032

4.65%,

01/15/2043

4.75%,

02/15/2030

4.75%,

02/15/2033

5.20%,

02/15/2035

5.38%,

06/15/2034

5.65%,

06/15/2054

5.70%,

02/15/2055

5.70%,

09/15/2055

(d) 175

6.10%,

10/15/2052

HCA

Inc

2.38%,

07/15/2031

3.38%,

03/15/2029

3.50%,

09/01/2030

680

655

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

(continued)

HCA

Inc

(continued)

3.50%,

07/15/2051

$

$

4.38%,

03/15/2042

4.50%,

02/15/2027

4.60%,

11/15/2032

5.00%,

03/01/2028

5.20%,

06/01/2028

5.45%,

04/01/2031

5.45%,

09/15/2034

5.50%,

03/01/2032

5.50%,

06/01/2033

5.50%,

06/15/2047

5.60%,

04/01/2034

5.70%,

11/15/2055

5.75%,

03/01/2035

5.95%,

09/15/2054

6.00%,

04/01/2054

Humana

Inc

1.35%,

02/03/2027

2.15%,

02/03/2032

3.13%,

08/15/2029

4.95%,

10/01/2044

5.50%,

03/15/2053

5.55%,

05/01/2035

Kaiser

Foundation

Hospitals

4.15%,

05/01/2047

500

Laboratory

Corp

of

America

Holdings

4.70%,

02/01/2045

500

Memorial

Sloan-Kettering

Cancer

Center

4.20%,

07/01/2055

Providence

St

Joseph

Health

Obligated

Group

3.74%,

10/01/2047

Quest

Diagnostics

Inc

2.95%,

06/30/2030

4.60%,

12/15/2027

5.00%,

12/15/2034

UnitedHealth

Group

Inc

2.00%,

05/15/2030

2.30%,

05/15/2031

2.75%,

05/15/2040

2.88%,

08/15/2029

2.90%,

05/15/2050

3.05%,

05/15/2041

3.25%,

05/15/2051

3.45%,

01/15/2027

3.50%,

08/15/2039

3.70%,

05/15/2027

4.25%,

01/15/2029

4.25%,

04/15/2047

4.25%,

06/15/2048

4.40%,

06/15/2028

4.45%,

12/15/2048

4.60%,

04/15/2027

4.70%,

04/15/2029

4.75%,

07/15/2045

4.75%,

05/15/2052

4.80%,

01/15/2030

4.90%,

04/15/2031

4.95%,

01/15/2032

5.00%,

04/15/2034

5.15%,

07/15/2034

5.20%,

04/15/2063

5.30%,

06/15/2035

5.35%,

02/15/2033

5.50%,

07/15/2044

5.50%,

04/15/2064

5.63%,

07/15/2054

5.88%,

02/15/2053

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

(continued)

UnitedHealth

Group

Inc

(continued)

5.95%,

06/15/2055

$

$

6.88%,

02/15/2038

$

20,820

Home

Builders

-

.00

%

DR

Horton

Inc

1.40%,

10/15/2027

Home

Furnishings

-

.01

%

Leggett

&

Platt

Inc

4.40%,

03/15/2029

Insurance

-

.60

%

Allstate

Corp/The

1.45%,

12/15/2030

3.85%,

08/10/2049

5.25%,

03/30/2033

American

International

Group

Inc

4.38%,

06/30/2050

4.75%,

04/01/2048

5.13%,

03/27/2033

5.45%,

05/07/2035

Aon

Corp

2.80%,

05/15/2030

Aon

Corp

/

Aon

Global

Holdings

PLC

2.60%,

12/02/2031

2.85%,

05/28/2027

2.90%,

08/23/2051

5.00%,

09/12/2032

5.35%,

02/28/2033

Aon

North

America

Inc

5.13%,

03/01/2027

5.15%,

03/01/2029

5.45%,

03/01/2034

5.75%,

03/01/2054

Arch

Capital

Finance

LLC

5.03%,

12/15/2046

Arthur

J

Gallagher

&

Co

4.60%,

12/15/2027

4.85%,

12/15/2029

5.15%,

02/15/2035

5.55%,

02/15/2055

Athene

Holding

Ltd

4.13%,

01/12/2028

6.25%,

04/01/2054

6.63%,

05/19/2055

Berkshire

Hathaway

Finance

Corp

2.50%,

01/15/2051

2.85%,

10/15/2050

2.88%,

03/15/2032

3.85%,

03/15/2052

4.20%,

08/15/2048

4.25%,

01/15/2049

4.30%,

05/15/2043

5.75%,

01/15/2040

Brighthouse

Financial

Inc

4.70%,

06/22/2047

Brown

&

Brown

Inc

4.90%,

06/23/2030

5.25%,

06/23/2032

5.55%,

06/23/2035

6.25%,

06/23/2055

Chubb

Corp/The

6.00%,

05/11/2037

Chubb

INA

Holdings

LLC

2.85%,

12/15/2051

3.05%,

12/15/2061

4.35%,

11/03/2045

4.65%,

08/15/2029

5.00%,

03/15/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Insurance

(continued)

CNA

Financial

Corp

2.05%,

08/15/2030

$

$

Corebridge

Financial

Inc

3.85%,

04/05/2029

3.90%,

04/05/2032

6.05%,

09/15/2033

Equitable

Holdings

Inc

4.35%,

04/20/2028

5.00%,

04/20/2048

Hartford

Insurance

Group

Inc/The

2.90%,

09/15/2051

Lincoln

National

Corp

6.30%,

10/09/2037

Markel

Group

Inc

3.45%,

05/07/2052

Marsh

&

McLennan

Cos

Inc

4.38%,

03/15/2029

4.55%,

11/08/2027

4.85%,

11/15/2031

4.90%,

03/15/2049

5.00%,

03/15/2035

5.40%,

09/15/2033

5.40%,

03/15/2055

5.70%,

09/15/2053

6.25%,

11/01/2052

MetLife

Inc

4.05%,

03/01/2045

4.13%,

08/13/2042

4.60%,

05/13/2046

4.88%,

11/13/2043

5.25%,

01/15/2054

5.30%,

12/15/2034

5.38%,

07/15/2033

5.70%,

06/15/2035

Progressive

Corp/The

2.45%,

01/15/2027

3.70%,

03/15/2052

4.35%,

04/25/2044

4.95%,

06/15/2033

Prudential

Financial

Inc

2.10%,

03/10/2030

3.70%,

10/01/2050

(e) 160

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.04%

3.70%,

03/13/2051

785

595

5.20%,

03/14/2035

5.70%,

09/15/2048

(e) 270

Month

USD

LIBOR

+

2.67%

Travelers

Cos

Inc/The

3.05%,

06/08/2051

4.00%,

05/30/2047

5.05%,

07/24/2035

5.45%,

05/25/2053

6.25%,

06/15/2037

W

R

Berkley

Corp

4.00%,

05/12/2050

Willis

North

America

Inc

2.95%,

09/15/2029

3.88%,

09/15/2049

5.35%,

05/15/2033

$

16,409

Internet

-

.66

%

Alibaba

Group

Holding

Ltd

2.13%,

02/09/2031

(d) 500

3.15%,

02/09/2051

3.40%,

12/06/2027

(d) 860

852

4.20%,

12/06/2047

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Internet

(continued)

Alphabet

Inc

1.90%,

08/15/2040

$

$

3.88%,

11/15/2028

4.00%,

05/15/2030

630

634

4.10%,

11/15/2030

4.38%,

11/15/2032

4.70%,

11/15/2035

5.25%,

05/15/2055

5.30%,

05/15/2065

5.35%,

11/15/2045

5.45%,

11/15/2055

Amazon.com

Inc

1.65%,

05/12/2028

2.10%,

05/12/2031

2.50%,

06/03/2050

2.88%,

05/12/2041

3.10%,

05/12/2051

3.15%,

08/22/2027

600

595

3.25%,

05/12/2061

3.30%,

04/13/2027

3.88%,

08/22/2037

3.90%,

11/20/2028

3.95%,

04/13/2052

540

4.05%,

08/22/2047

500

4.25%,

08/22/2057

4.35%,

03/20/2033

4.65%,

11/20/2035

4.70%,

12/01/2032

4.80%,

12/05/2034

4.95%,

12/05/2044

5.45%,

11/20/2055

5.55%,

11/20/2065

eBay

Inc

2.60%,

05/10/2031

3.65%,

05/10/2051

4.00%,

07/15/2042

5.95%,

11/22/2027

Expedia

Group

Inc

2.95%,

03/15/2031

Meta

Platforms

Inc

3.85%,

08/15/2032

4.20%,

11/15/2030

675

680

4.30%,

08/15/2029

4.45%,

08/15/2052

4.60%,

11/15/2032

620

629

4.75%,

08/15/2034

4.80%,

05/15/2030

4.88%,

11/15/2035

4.95%,

05/15/2033

5.40%,

08/15/2054

5.50%,

11/15/2045

5.55%,

08/15/2064

5.60%,

05/15/2053

5.63%,

11/15/2055

5.75%,

11/15/2065

Netflix

Inc

4.90%,

08/15/2034

5.88%,

11/15/2028

511

Uber

Technologies

Inc

4.15%,

01/15/2031

4.80%,

09/15/2035

$

18,075

Investment

Companies

-

.03

%

Ares

Capital

Corp

5.10%,

01/15/2031

5.50%,

09/01/2030

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Investment

Companies

(continued)

Blackstone

Private

Credit

Fund

5.05%,

09/10/2030

$

$

$

763

Iron

&

Steel

-

.05

%

ArcelorMittal

SA

6.00%,

06/17/2034

(d) 260

Nucor

Corp

3.13%,

04/01/2032

4.30%,

05/23/2027

Steel

Dynamics

Inc

1.65%,

10/15/2027

5.38%,

08/15/2034

5.75%,

05/15/2055

Vale

Overseas

Ltd

6.13%,

06/12/2033

6.40%,

06/28/2054

$

1,389

Lodging

-

.06

%

Hyatt

Hotels

Corp

5.25%,

06/30/2029

Marriott

International

Inc/MD

2.85%,

04/15/2031

510

5.00%,

10/15/2027

5.25%,

10/15/2035

5.35%,

03/15/2035

5.55%,

10/15/2028

$

1,586

Machinery

-

Construction

&

Mining

-

.08

%

Caterpillar

Financial

Services

Corp

1.10%,

09/14/2027

3.95%,

11/14/2028

4.50%,

01/08/2027

4.70%,

11/15/2029

5.00%,

05/14/2027

Caterpillar

Inc

2.60%,

04/09/2030

3.25%,

09/19/2049

3.80%,

08/15/2042

550

5.50%,

05/15/2055

$

2,059

Machinery

-

Diversified

-

.17

%

Deere

&

Co

3.90%,

06/09/2042

5.45%,

01/16/2035

Dover

Corp

5.38%,

03/01/2041

Ingersoll

Rand

Inc

5.20%,

06/15/2027

5.31%,

06/15/2031

John

Deere

Capital

Corp

1.50%,

03/06/2028

2.00%,

06/17/2031

2.35%,

03/08/2027

2.80%,

07/18/2029

4.15%,

09/15/2027

4.35%,

09/15/2032

4.50%,

01/08/2027

4.55%,

06/05/2030

4.65%,

01/07/2028

4.85%,

06/11/2029

4.90%,

06/11/2027

4.90%,

03/07/2031

4.95%,

07/14/2028

5.10%,

04/11/2034

Otis

Worldwide

Corp

2.57%,

02/15/2030

3.36%,

02/15/2050

5.13%,

09/04/2035

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Machinery

-

Diversified

(continued)

Rockwell

Automation

Inc

1.75%,

08/15/2031

$

$

2.80%,

08/15/2061

Westinghouse

Air

Brake

Technologies

Corp

4.70%,

09/15/2028

$

4,668

Media

-

.58

%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

2.25%,

01/15/2029

2.30%,

02/01/2032

2.80%,

04/01/2031

3.50%,

06/01/2041

515

3.70%,

04/01/2051

3.85%,

04/01/2061

3.90%,

06/01/2052

4.40%,

12/01/2061

4.80%,

03/01/2050

600

5.38%,

04/01/2038

5.38%,

05/01/2047

5.75%,

04/01/2048

6.38%,

10/23/2035

6.48%,

10/23/2045

6.55%,

06/01/2034

6.70%,

12/01/2055

Comcast

Corp

1.50%,

02/15/2031

(d) 410

2.35%,

01/15/2027

2.45%,

08/15/2052

2.65%,

02/01/2030

2.65%,

08/15/2062

2.89%,

11/01/2051

2.94%,

11/01/2056

2.99%,

11/01/2063

3.15%,

02/15/2028

3.25%,

11/01/2039

3.45%,

02/01/2050

3.55%,

05/01/2028

685

679

3.75%,

04/01/2040

3.90%,

03/01/2038

3.97%,

11/01/2047

4.00%,

03/01/2048

4.15%,

10/15/2028

4.40%,

08/15/2035

4.55%,

01/15/2029

520

527

4.70%,

10/15/2048

4.80%,

05/15/2033

4.95%,

05/15/2032

5.10%,

06/01/2029

5.30%,

06/01/2034

5.35%,

05/15/2053

5.50%,

11/15/2032

5.65%,

06/15/2035

(d) 250

5.65%,

06/01/2054

6.05%,

05/15/2055

Discovery

Communications

LLC

5.20%,

09/20/2047

Fox

Corp

5.48%,

01/25/2039

5.58%,

01/25/2049

6.50%,

10/13/2033

Paramount

Global

4.38%,

03/15/2043

4.85%,

07/01/2042

7.88%,

07/30/2030

Time

Warner

Cable

Enterprises

LLC

8.38%,

07/15/2033

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Media

(continued)

Time

Warner

Cable

LLC

4.50%,

09/15/2042

$

$

5.50%,

09/01/2041

5.88%,

11/15/2040

6.55%,

05/01/2037

7.30%,

07/01/2038

Walt

Disney

Co/The

2.00%,

09/01/2029

2.20%,

01/13/2028

2.65%,

01/13/2031

2.75%,

09/01/2049

3.50%,

05/13/2040

3.60%,

01/13/2051

4.70%,

03/23/2050

4.95%,

10/15/2045

6.40%,

12/15/2035

6.65%,

11/15/2037

$

15,857

Metal

Fabrication

&

Hardware

-

.01

%

Precision

Castparts

Corp

3.90%,

01/15/2043

Mining

-

.19

%

Barrick

PD

Australia

Finance

Pty

Ltd

5.95%,

10/15/2039

BHP

Billiton

Finance

USA

Ltd

4.13%,

02/24/2042

4.90%,

02/28/2033

5.00%,

02/21/2030

5.00%,

02/15/2036

5.00%,

09/30/2043

500

5.25%,

09/08/2030

5.50%,

09/08/2053

Freeport-McMoRan

Inc

4.38%,

08/01/2028

5.25%,

09/01/2029

700

711

Newmont

Corp

2.60%,

07/15/2032

Rio

Tinto

Alcan

Inc

6.13%,

12/15/2033

Rio

Tinto

Finance

USA

Ltd

2.75%,

11/02/2051

Rio

Tinto

Finance

USA

PLC

4.75%,

03/22/2042

4.88%,

03/14/2030

5.00%,

03/09/2033

5.25%,

03/14/2035

5.75%,

03/14/2055

Southern

Copper

Corp

5.25%,

11/08/2042

5.88%,

04/23/2045

7.50%,

07/27/2035

$

5,195

Miscellaneous

Manufacturers

-

.08

%

3M

Co

2.38%,

08/26/2029

3.25%,

08/26/2049

5.15%,

03/15/2035

Eaton

Corp

4.15%,

03/15/2033

4.15%,

11/02/2042

Parker-Hannifin

Corp

4.20%,

11/21/2034

4.25%,

09/15/2027

4.50%,

09/15/2029

Teledyne

Technologies

Inc

2.25%,

04/01/2028

$

2,151

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

-

.84

%

BP

Capital

Markets

America

Inc

1.75%,

08/10/2030

$

$

2.72%,

01/12/2032

2.94%,

06/04/2051

3.00%,

02/24/2050

3.00%,

03/17/2052

3.06%,

06/17/2041

3.54%,

04/06/2027

3.59%,

04/14/2027

4.70%,

04/10/2029

4.81%,

02/13/2033

4.89%,

09/11/2033

4.97%,

10/17/2029

4.99%,

04/10/2034

5.02%,

11/17/2027

5.23%,

11/17/2034

BP

Capital

Markets

PLC

3.28%,

09/19/2027

Canadian

Natural

Resources

Ltd

4.95%,

06/01/2047

5.00%,

12/15/2029

6.25%,

03/15/2038

Cenovus

Energy

Inc

6.75%,

11/15/2039

Chevron

Corp

2.00%,

05/11/2027

Chevron

USA

Inc

2.34%,

08/12/2050

4.05%,

08/13/2028

4.30%,

10/15/2030

4.41%,

02/26/2027

4.69%,

04/15/2030

4.82%,

04/15/2032

4.85%,

10/15/2035

ConocoPhillips

Co

3.80%,

03/15/2052

4.03%,

03/15/2062

4.30%,

11/15/2044

4.70%,

01/15/2030

5.00%,

01/15/2035

5.05%,

09/15/2033

5.50%,

01/15/2055

5.55%,

03/15/2054

Devon

Energy

Corp

5.00%,

06/15/2045

5.20%,

09/15/2034

5.60%,

07/15/2041

5.75%,

09/15/2054

Diamondback

Energy

Inc

3.25%,

12/01/2026

5.15%,

01/30/2030

5.20%,

04/18/2027

5.40%,

04/18/2034

500

514

5.75%,

04/18/2054

EOG

Resources

Inc

4.40%,

07/15/2028

4.40%,

01/15/2031

5.35%,

01/15/2036

5.65%,

12/01/2054

5.95%,

07/15/2055

Equinor

ASA

2.38%,

05/22/2030

3.00%,

04/06/2027

3.25%,

11/18/2049

3.63%,

04/06/2040

4.25%,

06/02/2028

4.25%,

11/23/2041

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Exxon

Mobil

Corp

2.44%,

08/16/2029

$

$

2.61%,

10/15/2030

500

3.00%,

08/16/2039

3.10%,

08/16/2049

500

3.45%,

04/15/2051

3.57%,

03/06/2045

4.23%,

03/19/2040

Hess

Corp

4.30%,

04/01/2027

7.13%,

03/15/2033

7.30%,

08/15/2031

Marathon

Petroleum

Corp

5.00%,

09/15/2054

Occidental

Petroleum

Corp

5.00%,

08/01/2027

5.20%,

08/01/2029

5.38%,

01/01/2032

6.05%,

10/01/2054

6.45%,

09/15/2036

6.63%,

09/01/2030

Phillips

2.15%,

12/15/2030

4.65%,

11/15/2034

4.88%,

11/15/2044

5.88%,

05/01/2042

Phillips

Co

4.90%,

10/01/2046

4.95%,

12/01/2027

5.25%,

06/15/2031

5.50%,

03/15/2055

Pioneer

Natural

Resources

Co

1.90%,

08/15/2030

2.15%,

01/15/2031

Shell

Finance

US

Inc

3.25%,

04/06/2050

4.00%,

05/10/2046

4.13%,

11/06/2030

4.13%,

05/11/2035

4.38%,

05/11/2045

4.55%,

08/12/2043

4.75%,

01/06/2036

Shell

International

Finance

BV

2.88%,

11/26/2041

3.88%,

11/13/2028

6.38%,

12/15/2038

Suncor

Energy

Inc

3.75%,

03/04/2051

4.00%,

11/15/2047

6.80%,

05/15/2038

6.85%,

06/01/2039

TotalEnergies

Capital

International

SA

2.83%,

01/10/2030

2.99%,

06/29/2041

3.13%,

05/29/2050

3.39%,

06/29/2060

TotalEnergies

Capital

SA

5.15%,

04/05/2034

5.28%,

09/10/2054

5.43%,

09/10/2064

5.49%,

04/05/2054

Valero

Energy

Corp

2.80%,

12/01/2031

4.00%,

06/01/2052

525

6.63%,

06/15/2037

7.50%,

04/15/2032

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Woodside

Finance

Ltd

5.40%,

05/19/2030

$

$

6.00%,

05/19/2035

$

22,952

Oil

&

Gas

Services

-

.06

%

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co-

Obligor

Inc

2.06%,

12/15/2026

3.14%,

11/07/2029

3.34%,

12/15/2027

Halliburton

Co

4.50%,

11/15/2041

5.00%,

11/15/2045

7.45%,

09/15/2039

NOV

Inc

3.60%,

12/01/2029

$

1,510

Packaging

&

Containers

-

.06

%

Amcor

Flexibles

North

America

Inc

4.80%,

03/17/2028

5.10%,

03/17/2030

Packaging

Corp

of

America

3.00%,

12/15/2029

500

3.05%,

10/01/2051

Smurfit

Westrock

Financing

DAC

5.42%,

01/15/2035

WRKCo

Inc

3.00%,

06/15/2033

4.20%,

06/01/2032

500

$

1,730

Pharmaceuticals

-

.35

%

AbbVie

Inc

3.20%,

11/21/2029

820

795

4.05%,

11/21/2039

4.25%,

11/14/2028

4.25%,

11/21/2049

4.40%,

11/06/2042

4.45%,

05/14/2046

4.50%,

05/14/2035

4.55%,

03/15/2035

4.80%,

03/15/2027

4.80%,

03/15/2029

4.85%,

06/15/2044

4.88%,

11/14/2048

4.95%,

03/15/2031

5.05%,

03/15/2034

5.20%,

03/15/2035

5.40%,

03/15/2054

5.60%,

03/15/2055

Astrazeneca

Finance

LLC

1.75%,

05/28/2028

2.25%,

05/28/2031

4.80%,

02/26/2027

4.85%,

02/26/2029

4.88%,

03/03/2028

4.88%,

03/03/2033

4.90%,

02/26/2031

AstraZeneca

PLC

1.38%,

08/06/2030

3.00%,

05/28/2051

4.38%,

08/17/2048

6.45%,

09/15/2037

Becton

Dickinson

&

Co

1.96%,

02/11/2031

3.70%,

06/06/2027

600

597

3.79%,

05/20/2050

710

542

4.67%,

06/06/2047

4.69%,

12/15/2044

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

Becton

Dickinson

&

Co

(continued)

5.08%,

06/07/2029

$

$

Bristol-Myers

Squibb

Co

1.13%,

11/13/2027

1.45%,

11/13/2030

2.55%,

11/13/2050

2.95%,

03/15/2032

3.55%,

03/15/2042

3.70%,

03/15/2052

4.13%,

06/15/2039

4.25%,

10/26/2049

4.35%,

11/15/2047

4.55%,

02/20/2048

5.20%,

02/22/2034

5.50%,

02/22/2044

5.55%,

02/22/2054

5.75%,

02/01/2031

Cardinal

Health

Inc

3.41%,

06/15/2027

4.50%,

09/15/2030

CVS

Health

Corp

1.30%,

08/21/2027

1.75%,

08/21/2030

1.88%,

02/28/2031

3.25%,

08/15/2029

740

715

4.30%,

03/25/2028

500

501

4.78%,

03/25/2038

905

860

5.00%,

09/15/2032

5.05%,

03/25/2048

725

650

5.13%,

07/20/2045

5.25%,

02/21/2033

5.30%,

06/01/2033

5.55%,

06/01/2031

5.70%,

06/01/2034

5.88%,

06/01/2053

6.25%,

09/15/2065

Eli

Lilly

&

Co

2.50%,

09/15/2060

4.00%,

10/15/2028

4.15%,

03/15/2059

4.50%,

02/09/2027

4.50%,

02/09/2029

4.55%,

02/12/2028

545

555

4.55%,

10/15/2032

4.60%,

08/14/2034

4.70%,

02/09/2034

4.75%,

02/12/2030

4.88%,

02/27/2053

5.00%,

02/09/2054

5.05%,

08/14/2054

5.60%,

02/12/2065

5.65%,

10/15/2065

GlaxoSmithKline

Capital

Inc

3.88%,

05/15/2028

4.50%,

04/15/2030

4.88%,

04/15/2035

6.38%,

05/15/2038

Johnson

&

Johnson

2.10%,

09/01/2040

3.70%,

03/01/2046

4.50%,

03/01/2027

4.55%,

03/01/2028

4.80%,

06/01/2029

520

538

4.90%,

06/01/2031

520

545

4.95%,

06/01/2034

5.95%,

08/15/2037

McKesson

Corp

4.65%,

05/30/2030

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pharmaceuticals

(continued)

Merck

&

Co

Inc

1.45%,

06/24/2030

$

$

1.70%,

06/10/2027

1.90%,

12/10/2028

2.35%,

06/24/2040

2.75%,

12/10/2051

2.90%,

12/10/2061

3.70%,

02/10/2045

600

3.85%,

09/15/2027

4.15%,

09/15/2030

4.15%,

05/18/2043

4.50%,

05/17/2033

4.95%,

09/15/2035

5.00%,

05/17/2053

Novartis

Capital

Corp

2.75%,

08/14/2050

3.80%,

09/18/2029

4.10%,

11/05/2030

4.20%,

09/18/2034

4.30%,

11/05/2032

4.40%,

05/06/2044

4.60%,

11/05/2035

4.70%,

09/18/2054

5.20%,

11/05/2045

Pfizer

Inc

1.75%,

08/18/2031

2.55%,

05/28/2040

800

596

4.00%,

12/15/2036

4.20%,

11/15/2030

4.20%,

09/15/2048

4.30%,

06/15/2043

4.40%,

05/15/2044

4.50%,

11/15/2032

5.60%,

11/15/2055

5.70%,

11/15/2065

7.20%,

03/15/2039

Pfizer

Investment

Enterprises

Pte

Ltd

4.45%,

05/19/2028

780

789

4.65%,

05/19/2030

4.75%,

05/19/2033

5.11%,

05/19/2043

5.30%,

05/19/2053

570

552

5.34%,

05/19/2063

Takeda

Pharmaceutical

Co

Ltd

2.05%,

03/31/2030

700

641

3.18%,

07/09/2050

645

5.30%,

07/05/2034

Takeda

US

Financing

Inc

5.90%,

07/07/2055

Utah

Acquisition

Sub

Inc

5.25%,

06/15/2046

Viatris

Inc

2.30%,

06/22/2027

2.70%,

06/22/2030

3.85%,

06/22/2040

4.00%,

06/22/2050

Wyeth

LLC

5.95%,

04/01/2037

Zoetis

Inc

2.00%,

05/15/2030

3.00%,

05/15/2050

4.15%,

08/17/2028

4.70%,

02/01/2043

$

36,779

Pipelines

-

.92

%

Cheniere

Corpus

Christi

Holdings

LLC

3.70%,

11/15/2029

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

(continued)

Cheniere

Energy

Partners

LP

5.55%,

10/30/2035

(g) $

$

5.75%,

08/15/2034

Eastern

Gas

Transmission

&

Storage

Inc

4.60%,

12/15/2044

640

563

Enbridge

Inc

2.50%,

08/01/2033

3.13%,

11/15/2029

3.40%,

08/01/2051

4.25%,

12/01/2026

4.60%,

06/20/2028

5.30%,

04/05/2029

5.55%,

06/20/2035

5.70%,

03/08/2033

5.95%,

04/05/2054

6.70%,

11/15/2053

Energy

Transfer

LP

3.75%,

05/15/2030

4.90%,

03/15/2035

5.25%,

04/15/2029

5.30%,

04/15/2047

500

5.35%,

05/15/2045

5.55%,

05/15/2034

5.70%,

04/01/2035

535

556

5.75%,

02/15/2033

6.05%,

09/01/2054

6.10%,

12/01/2028

6.25%,

04/15/2049

6.40%,

12/01/2030

6.50%,

02/01/2042

Enterprise

Products

Operating

LLC

3.13%,

07/31/2029

3.30%,

02/15/2053

4.25%,

02/15/2048

4.30%,

06/20/2028

4.45%,

02/15/2043

4.60%,

01/15/2031

4.85%,

01/31/2034

4.85%,

03/15/2044

4.95%,

02/15/2035

5.20%,

01/15/2036

5.55%,

02/16/2055

6.45%,

09/01/2040

552

6.88%,

03/01/2033

Kinder

Morgan

Energy

Partners

LP

4.70%,

11/01/2042

5.00%,

03/01/2043

Kinder

Morgan

Inc

2.00%,

02/15/2031

3.25%,

08/01/2050

3.60%,

02/15/2051

5.00%,

02/01/2029

5.05%,

02/15/2046

5.10%,

08/01/2029

5.20%,

06/01/2033

5.40%,

02/01/2034

5.55%,

06/01/2045

600

586

5.85%,

06/01/2035

5.95%,

08/01/2054

MPLX

LP

4.13%,

03/01/2027

4.25%,

12/01/2027

4.50%,

04/15/2038

4.80%,

02/15/2031

5.00%,

01/15/2033

5.00%,

03/01/2033

5.50%,

06/01/2034

5.50%,

02/15/2049

605

561

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

(continued)

MPLX

LP

(continued)

5.95%,

04/01/2055

$

$

6.20%,

09/15/2055

ONEOK

Inc

3.40%,

09/01/2029

4.25%,

09/24/2027

4.75%,

10/15/2031

5.40%,

10/15/2035

5.70%,

11/01/2054

5.85%,

11/01/2064

6.05%,

09/01/2033

6.25%,

10/15/2055

6.63%,

09/01/2053

Plains

All

American

Pipeline

LP

5.95%,

06/15/2035

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp

3.55%,

12/15/2029

4.70%,

06/15/2044

5.60%,

01/15/2036

Sabine

Pass

Liquefaction

LLC

4.20%,

03/15/2028

5.00%,

03/15/2027

Targa

Resources

Corp

4.90%,

09/15/2030

5.20%,

07/01/2027

5.40%,

07/30/2036

5.65%,

02/15/2036

6.13%,

03/15/2033

6.13%,

05/15/2055

6.15%,

03/01/2029

6.50%,

03/30/2034

TransCanada

PipeLines

Ltd

4.25%,

05/15/2028

Western

Midstream

Operating

LP

5.45%,

11/15/2034

6.15%,

04/01/2033

Williams

Cos

Inc/The

2.60%,

03/15/2031

3.50%,

10/15/2051

3.75%,

06/15/2027

4.63%,

06/30/2030

4.85%,

03/01/2048

4.90%,

03/15/2029

5.10%,

09/15/2045

5.30%,

08/15/2028

5.30%,

09/30/2035

5.30%,

08/15/2052

5.65%,

03/15/2033

6.00%,

03/15/2055

6.30%,

04/15/2040

$

25,127

Private

Equity

-

.04

%

Brookfield

Finance

Inc

2.72%,

04/15/2031

3.50%,

03/30/2051

3.90%,

01/25/2028

5.33%,

01/15/2036

5.68%,

01/15/2035

Brookfield

Finance

LLC

/

Brookfield

Finance

Inc

3.45%,

04/15/2050

$

973

Regional

Authority

-

.28

%

Province

of

Alberta

Canada

1.30%,

07/22/2030

3.30%,

03/15/2028

4.30%,

11/02/2035

4.50%,

06/26/2029

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Regional

Authority

(continued)

Province

of

British

Columbia

Canada

1.30%,

01/29/2031

$

$

3.90%,

08/27/2030

4.20%,

07/06/2033

4.70%,

01/24/2028

4.75%,

06/12/2034

4.80%,

11/15/2028

4.80%,

06/11/2035

Province

of

Manitoba

Canada

1.50%,

10/25/2028

4.30%,

07/27/2033

Province

of

Ontario

Canada

1.13%,

10/07/2030

2.13%,

01/21/2032

3.10%,

05/19/2027

3.70%,

09/17/2029

3.90%,

09/04/2030

4.20%,

01/18/2029

4.45%,

11/20/2035

4.70%,

01/15/2030

4.85%,

06/11/2035

Province

of

Quebec

Canada

1.35%,

05/28/2030

3.63%,

04/13/2028

4.25%,

09/05/2034

4.50%,

04/03/2029

(d) 450

4.50%,

09/08/2033

4.63%,

08/28/2035

7.50%,

09/15/2029

$

7,738

REITs

-

.75

%

Alexandria

Real

Estate

Equities

Inc

1.88%,

02/01/2033

2.75%,

12/15/2029

2.95%,

03/15/2034

3.00%,

05/18/2051

3.55%,

03/15/2052

4.00%,

02/01/2050

4.90%,

12/15/2030

(d) 80

5.15%,

04/15/2053

American

Homes

Rent

LP

4.95%,

06/15/2030

American

Tower

Corp

1.88%,

10/15/2030

2.90%,

01/15/2030

2.95%,

01/15/2051

3.65%,

03/15/2027

515

512

3.70%,

10/15/2049

3.95%,

03/15/2029

5.25%,

07/15/2028

5.35%,

03/15/2035

5.65%,

03/15/2033

5.90%,

11/15/2033

AvalonBay

Communities

Inc

1.90%,

12/01/2028

2.05%,

01/15/2032

2.30%,

03/01/2030

4.35%,

12/01/2030

(i) 145

5.00%,

02/15/2033

5.00%,

08/01/2035

5.35%,

06/01/2034

Boston

Properties

LP

2.55%,

04/01/2032

2.90%,

03/15/2030

COPT

Defense

Properties

LP

2.75%,

04/15/2031

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

(continued)

Crown

Castle

Inc

2.50%,

07/15/2031

$

$

2.90%,

04/01/2041

3.10%,

11/15/2029

3.25%,

01/15/2051

3.80%,

02/15/2028

4.00%,

11/15/2049

4.90%,

09/01/2029

5.00%,

01/11/2028

5.10%,

05/01/2033

CubeSmart

LP

2.00%,

02/15/2031

2.25%,

12/15/2028

5.13%,

11/01/2035

Digital

Realty

Trust

LP

5.55%,

01/15/2028

Equinix

Inc

1.80%,

07/15/2027

2.50%,

05/15/2031

3.20%,

11/18/2029

3.40%,

02/15/2052

ERP

Operating

LP

4.65%,

09/15/2034

Essex

Portfolio

LP

1.70%,

03/01/2028

3.00%,

01/15/2030

4.00%,

03/01/2029

5.50%,

04/01/2034

Extra

Space

Storage

LP

2.20%,

10/15/2030

2.40%,

10/15/2031

4.95%,

01/15/2033

5.40%,

02/01/2034

5.40%,

06/15/2035

5.50%,

07/01/2030

GLP

Capital

LP

/

GLP

Financing

II

Inc

4.00%,

01/15/2030

5.25%,

02/15/2033

Healthcare

Realty

Holdings

LP

2.00%,

03/15/2031

Healthpeak

OP

LLC

2.13%,

12/01/2028

3.00%,

01/15/2030

5.25%,

12/15/2032

Kilroy

Realty

LP

2.50%,

11/15/2032

Kimco

Realty

OP

LLC

2.25%,

12/01/2031

2.70%,

10/01/2030

3.70%,

10/01/2049

4.60%,

02/01/2033

5.30%,

02/01/2036

6.40%,

03/01/2034

Mid-America

Apartments

LP

1.70%,

02/15/2031

5.30%,

02/15/2032

NNN

REIT

Inc

3.60%,

12/15/2026

4.60%,

02/15/2031

Prologis

LP

1.25%,

10/15/2030

1.75%,

07/01/2030

2.25%,

01/15/2032

2.88%,

11/15/2029

4.00%,

09/15/2028

4.63%,

01/15/2033

4.88%,

06/15/2028

5.25%,

05/15/2035

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

REITs

(continued)

Prologis

LP

(continued)

5.25%,

03/15/2054

$

$

Public

Storage

Operating

Co

1.85%,

05/01/2028

2.25%,

11/09/2031

5.00%,

07/01/2035

(d) 155

5.10%,

08/01/2033

5.13%,

01/15/2029

(d) 160

Realty

Income

Corp

2.10%,

03/15/2028

2.20%,

06/15/2028

3.10%,

12/15/2029

3.25%,

01/15/2031

4.50%,

02/01/2033

4.75%,

02/15/2029

4.85%,

03/15/2030

4.90%,

07/15/2033

5.38%,

09/01/2054

Simon

Property

Group

LP

1.75%,

02/01/2028

2.65%,

02/01/2032

4.38%,

10/01/2030

4.75%,

09/26/2034

4.75%,

03/15/2042

UDR

Inc

2.10%,

08/01/2032

3.20%,

01/15/2030

Ventas

Realty

LP

3.00%,

01/15/2030

5.10%,

07/15/2032

5.63%,

07/01/2034

VICI

Properties

LP

4.75%,

04/01/2028

5.13%,

11/15/2031

Welltower

OP

LLC

2.75%,

01/15/2032

4.13%,

03/15/2029

4.50%,

07/01/2030

5.13%,

07/01/2035

WP

Carey

Inc

2.40%,

02/01/2031

4.65%,

07/15/2030

$

20,388

Retail

-

.62

%

AutoZone

Inc

1.65%,

01/15/2031

3.75%,

06/01/2027

3.75%,

04/18/2029

5.10%,

07/15/2029

Costco

Wholesale

Corp

1.38%,

06/20/2027

Dollar

Tree

Inc

4.20%,

05/15/2028

Home

Depot

Inc/The

0.90%,

03/15/2028

1.88%,

09/15/2031

2.38%,

03/15/2051

2.75%,

09/15/2051

2.88%,

04/15/2027

2.95%,

06/15/2029

500

3.13%,

12/15/2049

3.95%,

09/15/2030

4.20%,

04/01/2043

4.25%,

04/01/2046

4.40%,

03/15/2045

4.85%,

06/25/2031

4.88%,

06/25/2027

4.90%,

04/15/2029

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Retail

(continued)

Home

Depot

Inc/The

(continued)

4.95%,

06/25/2034

$

$

4.95%,

09/15/2052

5.30%,

06/25/2054

5.40%,

09/15/2040

5.88%,

12/16/2036

Lowe's

Cos

Inc

1.30%,

04/15/2028

1.70%,

10/15/2030

3.10%,

05/03/2027

500

3.65%,

04/05/2029

3.70%,

04/15/2046

3.75%,

04/01/2032

4.00%,

10/15/2028

4.05%,

05/03/2047

4.25%,

04/01/2052

540

4.55%,

04/05/2049

4.85%,

10/15/2035

5.00%,

04/15/2033

5.00%,

04/15/2040

5.63%,

04/15/2053

5.75%,

07/01/2053

McDonald's

Corp

2.63%,

09/01/2029

3.50%,

07/01/2027

3.70%,

02/15/2042

4.45%,

03/01/2047

500

4.60%,

05/15/2030

4.95%,

08/14/2033

5.00%,

02/13/2036

5.15%,

09/09/2052

6.30%,

03/01/2038

O'Reilly

Automotive

Inc

1.75%,

03/15/2031

4.35%,

06/01/2028

Starbucks

Corp

2.00%,

03/12/2027

3.00%,

02/14/2032

(d) 345

3.75%,

12/01/2047

4.30%,

06/15/2045

4.45%,

08/15/2049

4.80%,

05/15/2030

4.80%,

02/15/2033

Target

Corp

1.95%,

01/15/2027

2.35%,

02/15/2030

2.95%,

01/15/2052

4.50%,

09/15/2032

(d) 340

4.50%,

09/15/2034

4.80%,

01/15/2053

TJX

Cos

Inc/The

1.15%,

05/15/2028

1.60%,

05/15/2031

Walmart

Inc

1.50%,

09/22/2028

1.80%,

09/22/2031

2.50%,

09/22/2041

2.65%,

09/22/2051

3.90%,

04/15/2028

3.95%,

06/28/2038

4.00%,

04/15/2030

4.00%,

04/11/2043

4.05%,

06/29/2048

4.10%,

04/28/2027

4.10%,

04/15/2033

4.15%,

09/09/2032

4.50%,

09/09/2052

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Retail

(continued)

Walmart

Inc

(continued)

4.90%,

04/28/2035

$

$

$

16,790

Semiconductors

-

.69

%

Analog

Devices

Inc

2.10%,

10/01/2031

2.80%,

10/01/2041

3.50%,

12/05/2026

4.25%,

06/15/2028

4.50%,

06/15/2030

5.30%,

04/01/2054

Applied

Materials

Inc

4.35%,

04/01/2047

4.60%,

01/15/2036

4.80%,

06/15/2029

5.10%,

10/01/2035

Broadcom

Inc

3.14%,

11/15/2035

(g) 363

3.19%,

11/15/2036

(g) 280

3.42%,

04/15/2033

3.47%,

04/15/2034

3.50%,

02/15/2041

3.75%,

02/15/2051

570

4.15%,

02/15/2028

4.15%,

11/15/2030

4.20%,

10/15/2030

4.30%,

11/15/2032

4.35%,

02/15/2030

4.55%,

02/15/2032

4.60%,

07/15/2030

4.75%,

04/15/2029

4.80%,

02/15/2036

5.15%,

11/15/2031

5.20%,

04/15/2032

5.20%,

07/15/2035

Intel

Corp

2.00%,

08/12/2031

2.45%,

11/15/2029

3.05%,

08/12/2051

3.15%,

05/11/2027

3.20%,

08/12/2061

3.25%,

11/15/2049

3.73%,

12/08/2047

3.75%,

03/25/2027

3.75%,

08/05/2027

4.00%,

08/05/2029

585

580

4.10%,

05/19/2046

4.15%,

08/05/2032

4.60%,

03/25/2040

5.20%,

02/10/2033

(d) 300

5.60%,

02/21/2054

5.63%,

02/10/2043

5.70%,

02/10/2053

KLA

Corp

4.70%,

02/01/2034

4.95%,

07/15/2052

Lam

Research

Corp

2.88%,

06/15/2050

500

Marvell

Technology

Inc

2.45%,

04/15/2028

4.75%,

07/15/2030

5.45%,

07/15/2035

Micron

Technology

Inc

2.70%,

04/15/2032

4.66%,

02/15/2030

5.30%,

01/15/2031

5.80%,

01/15/2035

6.05%,

11/01/2035

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Semiconductors

(continued)

NVIDIA

Corp

1.55%,

06/15/2028

$

$

3.50%,

04/01/2040

600

517

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.50%,

05/11/2031

3.13%,

02/15/2042

3.15%,

05/01/2027

3.25%,

05/11/2041

4.30%,

08/19/2028

4.40%,

06/01/2027

QUALCOMM

Inc

1.65%,

05/20/2032

500

3.25%,

05/20/2027

500

4.30%,

05/20/2047

4.50%,

05/20/2030

4.50%,

05/20/2052

4.80%,

05/20/2045

6.00%,

05/20/2053

Texas

Instruments

Inc

1.75%,

05/04/2030

4.15%,

05/15/2048

4.50%,

05/23/2030

4.60%,

02/15/2028

4.60%,

02/08/2029

4.90%,

03/14/2033

5.00%,

03/14/2053

5.15%,

02/08/2054

TSMC

Arizona

Corp

3.88%,

04/22/2027

590

590

$

18,774

Software

-

.69

%

Adobe

Inc

4.95%,

01/17/2030

535

554

Fidelity

National

Information

Services

Inc

1.65%,

03/01/2028

540

511

3.10%,

03/01/2041

5.10%,

07/15/2032

Fiserv

Inc

3.50%,

07/01/2029

600

581

4.40%,

07/01/2049

590

4.75%,

03/15/2030

5.15%,

08/12/2034

5.25%,

08/11/2035

5.35%,

03/15/2031

5.45%,

03/02/2028

5.63%,

08/21/2033

Intuit

Inc

1.35%,

07/15/2027

5.13%,

09/15/2028

5.50%,

09/15/2053

Microsoft

Corp

1.35%,

09/15/2030

2.50%,

09/15/2050

2.53%,

06/01/2050

611

2.68%,

06/01/2060

549

2.92%,

03/17/2052

726

3.30%,

02/06/2027

3.45%,

08/08/2036

3.70%,

08/08/2046

500

Oracle

Corp

2.30%,

03/25/2028

2.80%,

04/01/2027

2.88%,

03/25/2031

2.95%,

04/01/2030

655

609

3.25%,

11/15/2027

500

3.60%,

04/01/2040

3.60%,

04/01/2050

700

3.65%,

03/25/2041

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Oracle

Corp

(continued)

3.80%,

11/15/2037

$

$

3.90%,

05/15/2035

3.95%,

03/25/2051

4.00%,

07/15/2046

500

4.00%,

11/15/2047

4.10%,

03/25/2061

4.20%,

09/27/2029

4.30%,

07/08/2034

4.38%,

05/15/2055

4.45%,

09/26/2030

4.50%,

07/08/2044

4.65%,

05/06/2030

530

528

4.70%,

09/27/2034

4.80%,

09/26/2032

5.20%,

09/26/2035

5.25%,

02/03/2032

5.38%,

09/27/2054

5.50%,

09/27/2064

5.55%,

02/06/2053

5.88%,

09/26/2045

5.95%,

09/26/2055

6.00%,

08/03/2055

6.13%,

07/08/2039

6.13%,

08/03/2065

6.15%,

11/09/2029

6.25%,

11/09/2032

6.90%,

11/09/2052

Roper

Technologies

Inc

1.40%,

09/15/2027

860

821

2.95%,

09/15/2029

4.25%,

09/15/2028

4.75%,

02/15/2032

4.90%,

10/15/2034

5.10%,

09/15/2035

Salesforce

Inc

1.95%,

07/15/2031

2.70%,

07/15/2041

2.90%,

07/15/2051

Synopsys

Inc

4.65%,

04/01/2028

4.85%,

04/01/2030

5.15%,

04/01/2035

5.70%,

04/01/2055

Take-Two

Interactive

Software

Inc

4.95%,

03/28/2028

VMware

LLC

1.80%,

08/15/2028

685

646

2.20%,

08/15/2031

$

18,965

Sovereign

-

.43

%

Canada

Government

International

Bond

3.75%,

04/26/2028

505

508

4.00%,

03/18/2030

4.63%,

04/30/2029

(d) 450

Chile

Government

International

Bond

2.45%,

01/31/2031

500

2.55%,

01/27/2032

2.75%,

01/31/2027

3.10%,

05/07/2041

3.24%,

02/06/2028

3.50%,

04/15/2053

3.86%,

06/21/2047

4.00%,

01/31/2052

4.95%,

01/05/2036

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Export

Development

Canada

3.75%,

09/07/2027

$

$

3.88%,

02/14/2028

4.00%,

06/20/2030

4.13%,

02/13/2029

4.75%,

06/05/2034

Export-Import

Bank

of

Korea

1.38%,

02/09/2031

3.75%,

09/22/2030

4.00%,

09/11/2029

4.25%,

09/15/2027

4.50%,

09/15/2032

4.63%,

01/14/2028

5.13%,

09/18/2028

5.25%,

01/14/2035

Indonesia

Government

International

Bond

2.15%,

07/28/2031

2.85%,

02/14/2030

3.05%,

03/12/2051

3.50%,

01/11/2028

3.70%,

10/30/2049

4.20%,

10/15/2050

4.30%,

04/16/2031

4.35%,

01/11/2048

4.55%,

01/11/2028

4.65%,

09/20/2032

4.75%,

02/11/2029

4.75%,

09/10/2034

4.90%,

04/16/2036

5.15%,

09/10/2054

(d) 200

5.65%,

01/11/2053

Israel

Government

International

Bond

3.88%,

07/03/2050

4.13%,

01/17/2048

4.50%,

01/17/2033

4.50%,

01/30/2043

5.38%,

02/19/2030

5.50%,

03/12/2034

5.75%,

03/12/2054

Japan

Bank

for

International

Cooperation

1.25%,

01/21/2031

1.88%,

04/15/2031

2.13%,

02/16/2029

2.88%,

07/21/2027

3.88%,

07/03/2028

4.63%,

07/22/2027

4.63%,

07/19/2028

4.63%,

04/17/2034

4.88%,

10/18/2028

Japan

International

Cooperation

Agency

4.25%,

05/22/2030

4.75%,

05/21/2029

Korea

International

Bond

1.00%,

09/16/2030

3.63%,

10/29/2030

3.88%,

09/20/2048

Mexico

Government

International

Bond

2.66%,

05/24/2031

500

3.25%,

04/16/2030

3.50%,

02/12/2034

3.75%,

01/11/2028

3.75%,

04/19/2071

3.77%,

05/24/2061

4.50%,

04/22/2029

4.60%,

01/23/2046

4.60%,

02/10/2048

4.75%,

03/08/2044

5.38%,

03/22/2033

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Mexico

Government

International

Bond

(continued)

5.55%,

01/21/2045

$

$

5.63%,

09/22/2035

5.75%,

10/12/2110

5.85%,

07/02/2032

6.00%,

05/07/2036

6.05%,

01/11/2040

700

697

6.34%,

05/04/2053

500

6.35%,

02/09/2035

6.40%,

05/07/2054

6.75%,

09/27/2034

6.88%,

05/13/2037

515

7.38%,

05/13/2055

526

Panama

Government

International

Bond

2.25%,

09/29/2032

3.16%,

01/23/2030

3.30%,

01/19/2033

500

3.88%,

03/17/2028

4.30%,

04/29/2053

4.50%,

04/16/2050

6.70%,

01/26/2036

600

636

6.85%,

03/28/2054

Peruvian

Government

International

Bond

1.86%,

12/01/2032

2.78%,

01/23/2031

2.78%,

12/01/2060

3.30%,

03/11/2041

3.55%,

03/10/2051

5.50%,

03/30/2036

5.63%,

11/18/2050

5.88%,

08/08/2054

6.55%,

03/14/2037

8.75%,

11/21/2033

Philippine

Government

International

Bond

2.65%,

12/10/2045

3.00%,

02/01/2028

3.20%,

07/06/2046

3.70%,

03/01/2041

3.70%,

02/02/2042

4.75%,

03/05/2035

5.00%,

07/17/2033

5.17%,

10/13/2027

5.50%,

02/04/2035

5.50%,

01/17/2048

5.60%,

05/14/2049

5.61%,

04/13/2033

7.75%,

01/14/2031

Republic

of

Italy

Government

International

Bond

2.88%,

10/17/2029

3.88%,

05/06/2051

5.38%,

06/15/2033

Republic

of

Poland

Government

International

Bond

4.88%,

02/12/2030

4.88%,

10/04/2033

5.13%,

09/18/2034

5.50%,

03/18/2054

575

561

State

of

Israel

2.50%,

01/15/2030

3.38%,

01/15/2050

Svensk

Exportkredit

AB

3.75%,

09/13/2027

3.75%,

05/08/2028

3.75%,

07/29/2030

4.13%,

06/14/2028

Tennessee

Valley

Authority

3.50%,

12/15/2042

3.88%,

03/15/2028

4.25%,

09/15/2065

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Tennessee

Valley

Authority

(continued)

4.63%,

09/15/2060

$

$

4.88%,

05/15/2035

5.25%,

09/15/2039

5.38%,

04/01/2056

5.88%,

04/01/2036

Uruguay

Government

International

Bond

4.13%,

11/20/2045

4.38%,

10/27/2027

4.98%,

04/20/2055

5.10%,

06/18/2050

5.44%,

02/14/2037

5.75%,

10/28/2034

7.63%,

03/21/2036

500

606

$

39,025

Supranational

Bank

-

.32

%

African

Development

Bank

3.50%,

09/18/2029

3.88%,

06/12/2028

4.00%,

03/18/2030

4.13%,

02/25/2027

4.38%,

03/14/2028

4.63%,

01/04/2027

Asian

Development

Bank

1.50%,

01/20/2027

1.50%,

03/04/2031

1.75%,

09/19/2029

1.88%,

03/15/2029

2.75%,

01/19/2028

3.13%,

08/20/2027

3.13%,

04/27/2032

3.63%,

08/28/2029

3.75%,

04/25/2028

3.75%,

08/28/2030

3.88%,

09/28/2032

3.88%,

06/14/2033

4.00%,

01/12/2033

4.13%,

01/12/2027

4.13%,

05/30/2030

4.38%,

01/14/2028

540

549

4.38%,

03/06/2029

4.38%,

03/22/2035

4.50%,

08/25/2028

5.82%,

06/16/2028

Asian

Infrastructure

Investment

Bank/The

3.63%,

09/15/2028

3.75%,

09/14/2027

4.13%,

01/18/2029

4.50%,

01/16/2030

4.50%,

05/21/2035

Council

Of

Europe

Development

Bank

3.63%,

01/26/2028

3.63%,

05/08/2028

4.50%,

01/15/2030

4.63%,

06/11/2027

European

Bank

for

Reconstruction

&

Development

4.13%,

01/25/2029

4.38%,

03/09/2028

European

Investment

Bank

1.25%,

02/14/2031

1.63%,

05/13/2031

3.25%,

11/15/2027

3.63%,

07/15/2030

520

520

3.75%,

11/15/2029

510

513

3.75%,

02/14/2033

615

611

3.88%,

03/15/2028

500

504

3.88%,

06/15/2028

650

656

3.88%,

10/15/2030

(d) 435

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Supranational

Bank

(continued)

European

Investment

Bank

(continued)

4.00%,

02/15/2029

$

1,100

$

1,115

4.13%,

02/13/2034

4.25%,

08/16/2032

4.38%,

03/19/2027

4.38%,

10/10/2031

550

568

4.50%,

03/14/2030

570

590

4.63%,

02/12/2035

4.75%,

06/15/2029

Inter-American

Development

Bank

1.13%,

07/20/2028

515

1.13%,

01/13/2031

1.50%,

01/13/2027

3.13%,

09/18/2028

3.50%,

09/14/2029

3.50%,

04/12/2033

3.75%,

06/14/2030

4.00%,

01/12/2028

4.13%,

02/15/2029

4.38%,

02/01/2027

4.38%,

07/17/2034

4.38%,

07/16/2035

4.38%,

01/24/2044

4.50%,

02/15/2030

4.50%,

09/13/2033

International

Bank

for

Reconstruction

&

Development

0.75%,

11/24/2027

500

0.75%,

08/26/2030

515

1.25%,

02/10/2031

615

544

1.38%,

04/20/2028

1.63%,

11/03/2031

1.75%,

10/23/2029

750

700

2.50%,

03/29/2032

620

575

3.13%,

06/15/2027

500

3.50%,

07/12/2028

3.50%,

10/28/2030

640

635

3.63%,

05/05/2028

3.88%,

10/16/2029

3.88%,

02/14/2030

3.88%,

08/28/2034

4.00%,

07/25/2030

4.00%,

01/10/2031

4.00%,

05/06/2032

4.13%,

03/20/2030

605

617

4.38%,

08/27/2035

4.50%,

04/10/2031

4.63%,

08/01/2028

4.63%,

01/15/2032

4.75%,

11/14/2033

International

Finance

Corp

3.88%,

07/02/2030

4.25%,

07/02/2029

4.38%,

01/15/2027

4.50%,

01/21/2028

Nordic

Investment

Bank

3.75%,

08/28/2028

3.75%,

05/09/2030

4.25%,

02/28/2029

$

36,099

Telecommunications

-

.07

%

America

Movil

SAB

de

CV

2.88%,

05/07/2030

600

566

3.63%,

04/22/2029

4.38%,

04/22/2049

6.13%,

03/30/2040

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

AT&T

Inc

1.65%,

02/01/2028

$

$

2.25%,

02/01/2032

2.30%,

06/01/2027

750

731

2.75%,

06/01/2031

600

553

3.10%,

02/01/2043

3.50%,

06/01/2041

640

510

3.50%,

09/15/2053

802

552

3.55%,

09/15/2055

885

606

3.65%,

06/01/2051

3.65%,

09/15/2059

999

681

4.25%,

03/01/2027

4.30%,

12/15/2042

4.35%,

03/01/2029

700

704

4.35%,

06/15/2045

4.50%,

05/15/2035

4.50%,

03/09/2048

500

4.90%,

11/01/2035

5.38%,

08/15/2035

5.40%,

02/15/2034

5.55%,

11/01/2045

6.05%,

08/15/2056

Bell

Telephone

Co

of

Canada

or

Bell

Canada

5.20%,

02/15/2034

Cisco

Systems

Inc

4.75%,

02/24/2030

4.80%,

02/26/2027

4.85%,

02/26/2029

4.95%,

02/24/2032

5.05%,

02/26/2034

5.30%,

02/26/2054

5.50%,

01/15/2040

5.90%,

02/15/2039

Juniper

Networks

Inc

2.00%,

12/10/2030

Motorola

Solutions

Inc

4.85%,

08/15/2030

5.20%,

08/15/2032

Orange

SA

5.38%,

01/13/2042

Rogers

Communications

Inc

3.20%,

03/15/2027

3.80%,

03/15/2032

5.00%,

02/15/2029

7.50%,

08/15/2038

Sprint

Capital

Corp

6.88%,

11/15/2028

Telefonica

Emisiones

SA

4.10%,

03/08/2027

5.21%,

03/08/2047

550

7.05%,

06/20/2036

T-Mobile

USA

Inc

2.05%,

02/15/2028

2.25%,

11/15/2031

2.40%,

03/15/2029

2.55%,

02/15/2031

600

550

3.00%,

02/15/2041

3.30%,

02/15/2051

3.38%,

04/15/2029

3.40%,

10/15/2052

3.75%,

04/15/2027

3.88%,

04/15/2030

4.20%,

10/01/2029

4.38%,

04/15/2040

4.50%,

04/15/2050

4.80%,

07/15/2028

4.95%,

03/15/2028

4.95%,

11/15/2035

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

T-Mobile

USA

Inc

(continued)

5.05%,

07/15/2033

$

$

5.13%,

05/15/2032

5.15%,

04/15/2034

5.20%,

01/15/2033

5.25%,

06/15/2055

5.50%,

01/15/2055

5.65%,

01/15/2053

5.70%,

01/15/2056

5.75%,

01/15/2034

5.75%,

01/15/2054

6.00%,

06/15/2054

Verizon

Communications

Inc

1.50%,

09/18/2030

1.75%,

01/20/2031

2.10%,

03/22/2028

2.36%,

03/15/2032

580

513

2.55%,

03/21/2031

2.65%,

11/20/2040

750

545

2.88%,

11/20/2050

505

2.99%,

10/30/2056

3.00%,

11/20/2060

3.40%,

03/22/2041

715

566

3.55%,

03/22/2051

815

592

3.70%,

03/22/2061

3.85%,

11/01/2042

4.02%,

12/03/2029

4.13%,

03/16/2027

600

601

4.33%,

09/21/2028

510

514

4.40%,

11/01/2034

4.50%,

08/10/2033

4.67%,

03/15/2055

4.75%,

01/15/2033

4.81%,

03/15/2039

4.86%,

08/21/2046

5.00%,

01/15/2036

5.25%,

04/02/2035

5.75%,

11/30/2045

5.88%,

11/30/2055

6.00%,

11/30/2065

Vodafone

Group

PLC

5.63%,

02/10/2053

5.75%,

06/28/2054

5.88%,

06/28/2064

6.15%,

02/27/2037

$

29,230

Transportation

-

.47

%

Burlington

Northern

Santa

Fe

LLC

3.05%,

02/15/2051

600

3.55%,

02/15/2050

4.15%,

04/01/2045

4.40%,

03/15/2042

4.45%,

01/15/2053

5.20%,

04/15/2054

5.40%,

06/01/2041

5.50%,

03/15/2055

5.80%,

03/15/2056

Canadian

National

Railway

Co

3.65%,

02/03/2048

3.85%,

08/05/2032

4.38%,

09/18/2034

4.75%,

11/12/2035

Canadian

Pacific

Railway

Co

1.75%,

12/02/2026

3.10%,

12/02/2051

4.80%,

03/30/2030

6.13%,

09/15/2115

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Transportation

(continued)

CSX

Corp

2.40%,

02/15/2030

$

$

3.35%,

09/15/2049

3.80%,

03/01/2028

3.80%,

04/15/2050

700

544

4.30%,

03/01/2048

4.50%,

11/15/2052

4.90%,

03/15/2055

5.05%,

06/15/2035

5.20%,

11/15/2033

FedEx

Corp

3.10%,

08/05/2029

800

770

3.88%,

08/01/2042

4.55%,

04/01/2046

535

5.10%,

01/15/2044

Norfolk

Southern

Corp

2.30%,

05/15/2031

2.55%,

11/01/2029

2.90%,

08/25/2051

3.94%,

11/01/2047

4.05%,

08/15/2052

4.45%,

03/01/2033

4.55%,

06/01/2053

4.84%,

10/01/2041

5.35%,

08/01/2054

Ryder

System

Inc

2.90%,

12/01/2026

4.30%,

06/15/2027

4.95%,

09/01/2029

Union

Pacific

Corp

2.38%,

05/20/2031

2.80%,

02/14/2032

2.89%,

04/06/2036

2.97%,

09/16/2062

3.20%,

05/20/2041

3.38%,

02/14/2042

3.80%,

10/01/2051

3.80%,

04/06/2071

590

3.84%,

03/20/2060

4.00%,

04/15/2047

4.50%,

01/20/2033

4.95%,

09/09/2052

5.60%,

12/01/2054

United

Parcel

Service

Inc

2.50%,

09/01/2029

3.40%,

09/01/2049

4.65%,

10/15/2030

4.88%,

03/03/2033

4.88%,

11/15/2040

5.05%,

03/03/2053

5.15%,

05/22/2034

5.50%,

05/22/2054

5.95%,

05/14/2055

6.20%,

01/15/2038

$

12,721

Trucking

&

Leasing

-

.02

%

GATX

Corp

1.90%,

06/01/2031

5.50%,

06/15/2035

6.05%,

06/05/2054

$

601

Water

-

.06

%

American

Water

Capital

Corp

2.30%,

06/01/2031

3.25%,

06/01/2051

3.75%,

09/01/2047

4.45%,

06/01/2032

5.70%,

09/01/2055

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Water

(continued)

American

Water

Capital

Corp

(continued)

6.59%,

10/15/2037

$

$

Essential

Utilities

Inc

2.40%,

05/01/2031

5.25%,

08/15/2035

5.30%,

05/01/2052

5.38%,

01/15/2034

$

1,538

TOTAL

BONDS

$

749,865

MUNICIPAL

BONDS

-

.11

%

Principal

Amount

(000's)

Value

(000's)

California

-

.03

%

Bay

Area

Toll

Authority

6.26%,

04/01/2049

$

$

6.91%,

10/01/2050

California

State

University

2.98%,

11/01/2051

East

Bay

Municipal

Utility

District

Water

System

Revenue

5.87%,

06/01/2040

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

6.55%,

05/15/2048

State

of

California

3.50%,

04/01/2028

7.30%,

10/01/2039

$

951

Georgia

-

.01

%

Municipal

Electric

Authority

of

Georgia

6.64%,

04/01/2057

Illinois

-

.03

%

Chicago

Transit

Authority

Sales

&

Transfer

Tax

Receipts

Revenue

6.90%,

12/01/2040

Chicago

Transit

Authority

Sales

Tax

Receipts

Fund

6.20%,

12/01/2040

State

of

Illinois

5.10%,

06/01/2033

611

627

$

971

New

Jersey

-

.02

%

New

Jersey

Economic

Development

Authority

(credit

support

from

National

Public

Finance

Guarantee

Corp)

7.43%,

02/15/2029

(j) 250

New

Jersey

Transportation

Trust

Fund

Authority

6.56%,

12/15/2040

$

New

York

-

.01

%

Port

Authority

of

New

York

&

New

Jersey

4.46%,

10/01/2062

Ohio

-

.00

%

Ohio

State

University/The

4.91%,

06/01/2040

Texas

-

.01

%

Dallas

Area

Rapid

Transit

5.02%,

12/01/2048

State

of

Texas

4.68%,

04/01/2040

$

Wisconsin

-

.00

%

State

of

Wisconsin

(credit

support

from

Assured

Guaranty)

5.70%,

05/01/2026

(j) 75

TOTAL

MUNICIPAL

BONDS

$

3,031

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.59

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

.22

%

2.00%,

09/01/2031

$

$

2.00%,

12/01/2031

2.50%,

01/01/2031

2.50%,

02/01/2031

2.50%,

12/01/2031

2.50%,

01/01/2032

2.50%,

03/01/2032

2.50%,

11/01/2036

3.00%,

11/01/2028

3.00%,

04/01/2029

3.00%,

09/01/2029

3.00%,

10/01/2029

3.00%,

11/01/2029

3.00%,

01/01/2030

3.00%,

11/01/2030

3.00%,

03/01/2031

3.00%,

05/01/2032

3.00%,

03/01/2033

3.00%,

04/01/2033

3.00%,

09/01/2036

3.00%,

09/01/2036

3.00%,

02/01/2037

3.00%,

10/01/2042

3.00%,

11/01/2042

3.00%,

02/01/2043

3.00%,

08/01/2043

3.00%,

09/01/2043

3.00%,

10/01/2043

3.00%,

01/01/2045

3.00%,

06/01/2046

3.00%,

10/01/2046

3.00%,

02/01/2047

3.50%,

12/01/2031

3.50%,

05/01/2034

3.50%,

11/01/2034

3.50%,

01/01/2035

3.50%,

04/01/2037

3.50%,

06/01/2042

3.50%,

02/01/2045

3.50%,

03/01/2045

3.50%,

06/01/2045

3.50%,

06/01/2046

4.00%,

12/01/2030

4.00%,

11/01/2033

4.00%,

07/01/2034

4.00%,

04/01/2038

4.00%,

12/01/2040

4.00%,

02/01/2044

4.00%,

04/01/2044

4.00%,

07/01/2044

4.00%,

09/01/2044

4.00%,

11/01/2044

4.00%,

01/01/2045

4.00%,

08/01/2045

4.00%,

12/01/2045

4.00%,

02/01/2046

4.00%,

05/01/2046

4.50%,

10/01/2030

4.50%,

05/01/2031

4.50%,

05/01/2049

1,464

1,460

5.50%,

06/01/2034

5.50%,

07/01/2038

5.50%,

07/01/2038

5.50%,

12/01/2038

5.50%,

10/01/2039

5.50%,

06/01/2041

6.00%,

04/01/2038

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

6.00%,

11/01/2038

$

$

$

6,136

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

.94

%

1.50%,

12/01/2035

1,715

1,556

1.50%,

03/01/2036

978

885

1.50%,

05/01/2036

3,454

3,123

1.50%,

05/01/2036

1,057

960

1.50%,

11/01/2036

755

684

1.50%,

12/01/2036

1,933

1,748

1.50%,

05/01/2037

682

615

1.50%,

11/01/2050

689

538

1.50%,

01/01/2051

3,352

2,602

1.50%,

06/01/2051

1,563

1,218

2.00%,

09/01/2029

2.00%,

05/01/2030

2.00%,

12/01/2031

2.00%,

02/01/2032

2.00%,

02/01/2036

2,649

2,463

2.00%,

02/01/2036

1,191

1,104

2.00%,

03/01/2036

2,124

1,975

2.00%,

04/01/2036

4,833

4,498

2.00%,

09/01/2036

2,684

2,488

2.00%,

02/01/2037

5,502

5,103

2.00%,

11/01/2041

5,520

4,858

2.00%,

05/01/2042

2,395

2,102

2.00%,

12/01/2050

13,134

10,770

2.00%,

02/01/2051

6,046

4,947

2.00%,

02/01/2051

6,858

5,623

2.00%,

02/01/2051

1,900

1,574

2.00%,

03/01/2051

3,839

3,147

2.00%,

04/01/2051

10,204

8,491

2.00%,

04/01/2051

2,005

1,671

2.00%,

04/01/2051

6,924

5,751

2.00%,

04/01/2051

4,654

3,873

2.00%,

05/01/2051

4,858

3,981

2.00%,

06/01/2051

1,816

1,488

2.00%,

07/01/2051

7,163

5,870

2.00%,

10/01/2051

3,488

2,868

2.00%,

11/01/2051

5,243

4,294

2.00%,

11/01/2051

1,496

1,245

2.00%,

12/01/2051

2,401

1,994

2.00%,

12/01/2051

4,936

4,099

2.00%,

12/01/2051

2,975

2,446

2.00%,

01/01/2052

4,215

3,451

2.00%,

01/01/2052

1,891

1,567

2.00%,

01/01/2052

10,337

8,602

2.00%,

02/01/2052

2,591

2,123

2.00%,

03/01/2052

4,165

3,454

2.00%,

04/01/2052

9,507

7,895

2.00%,

04/01/2052

1,148

957

2.00%,

04/01/2052

1,873

1,563

2.00%,

08/01/2052

1,523

1,247

2.00%,

12/01/2053

1,990

1,630

2.50%,

01/01/2028

2.50%,

11/01/2028

2.50%,

09/01/2029

2.50%,

05/01/2030

2.50%,

08/01/2030

2.50%,

03/01/2031

2.50%,

11/01/2031

2.50%,

12/01/2031

2.50%,

01/01/2032

2.50%,

03/01/2032

2.50%,

07/01/2033

2.50%,

02/01/2035

828

791

2.50%,

06/01/2035

1,781

1,690

2.50%,

10/01/2036

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

2.50%,

10/01/2036

$

$

2.50%,

12/01/2036

2.50%,

01/01/2037

2,141

2,029

2.50%,

04/01/2037

967

921

2.50%,

04/01/2042

3,702

3,296

2.50%,

01/01/2043

2.50%,

05/01/2043

2.50%,

10/01/2043

2.50%,

08/01/2046

2.50%,

12/01/2046

2.50%,

12/01/2046

2.50%,

10/01/2050

567

2.50%,

11/01/2050

540

2.50%,

02/01/2051

1,896

1,643

2.50%,

02/01/2051

5,128

4,471

2.50%,

04/01/2051

2,818

2,416

2.50%,

07/01/2051

520

2.50%,

07/01/2051

1,049

910

2.50%,

10/01/2051

4,269

3,657

2.50%,

11/01/2051

5,092

4,426

2.50%,

11/01/2051

2,234

1,942

2.50%,

01/01/2052

1,518

1,312

2.50%,

02/01/2052

2,455

2,102

2.50%,

02/01/2052

1,840

1,597

2.50%,

02/01/2052

1,870

1,619

2.50%,

02/01/2052

4,823

4,131

2.50%,

02/01/2052

9,743

8,428

2.50%,

03/01/2052

1,769

1,511

2.50%,

03/01/2052

1,909

1,650

2.50%,

03/01/2052

9,431

8,152

2.50%,

04/01/2052

6,672

5,707

2.50%,

04/01/2052

6,773

5,853

2.50%,

04/01/2052

9,156

7,913

2.50%,

04/01/2052

1,269

1,087

2.50%,

05/01/2052

2,652

2,289

2.50%,

10/01/2053

2,331

1,997

3.00%,

04/01/2027

3.00%,

01/01/2029

3.00%,

02/01/2029

3.00%,

12/01/2029

3.00%,

12/01/2029

3.00%,

01/01/2030

3.00%,

01/01/2030

3.00%,

06/01/2030

3.00%,

09/01/2030

3.00%,

10/01/2030

3.00%,

11/01/2030

3.00%,

12/01/2030

3.00%,

03/01/2031

3.00%,

04/01/2031

3.00%,

09/01/2031

3.00%,

12/01/2031

3.00%,

01/01/2033

3.00%,

04/01/2033

3.00%,

08/01/2034

3.00%,

05/01/2035

3.00%,

09/01/2035

1,000

964

3.00%,

05/01/2037

2,462

2,392

3.00%,

06/01/2040

3.00%,

04/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

05/01/2043

3.00%,

07/01/2043

3.00%,

07/01/2043

3.00%,

08/01/2043

3.00%,

10/01/2043

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.00%,

11/01/2043

$

$

3.00%,

01/01/2045

3.00%,

05/01/2046

3.00%,

10/01/2046

3.00%,

10/01/2049

1,369

1,234

3.00%,

11/01/2049

1,156

1,047

3.00%,

11/01/2049

1,597

1,437

3.00%,

03/01/2050

2,552

2,304

3.00%,

10/01/2050

2,507

2,248

3.00%,

07/01/2051

9,881

8,916

3.00%,

11/01/2051

3.00%,

02/01/2052

1,889

1,713

3.00%,

03/01/2052

3.00%,

03/01/2052

5,898

5,293

3.00%,

03/01/2052

1,632

1,453

3.00%,

04/01/2052

1,605

1,456

3.00%,

05/01/2052

2,580

2,332

3.00%,

05/01/2052

5,002

4,460

3.00%,

06/01/2052

6,536

5,866

3.50%,

12/01/2026

3.50%,

03/01/2029

3.50%,

09/01/2029

3.50%,

11/01/2030

3.50%,

04/01/2032

3.50%,

07/01/2032

3.50%,

09/01/2032

3.50%,

12/01/2032

701

694

3.50%,

10/01/2033

3.50%,

05/01/2034

3.50%,

06/01/2034

3.50%,

07/01/2034

3.50%,

10/01/2034

3.50%,

02/01/2036

3.50%,

02/01/2037

3.50%,

05/01/2037

3.50%,

05/01/2037

1,224

1,205

3.50%,

03/01/2041

3.50%,

03/01/2042

3.50%,

06/01/2042

3.50%,

07/01/2042

3.50%,

04/01/2043

3.50%,

05/01/2043

3.50%,

08/01/2043

3.50%,

01/01/2044

3.50%,

01/01/2044

603

576

3.50%,

10/01/2044

3.50%,

12/01/2044

3.50%,

11/01/2045

3.50%,

12/01/2045

3.50%,

12/01/2045

3.50%,

01/01/2046

3.50%,

03/01/2046

3.50%,

12/01/2046

3.50%,

01/01/2048

700

659

3.50%,

08/01/2049

776

726

3.50%,

11/01/2049

1,457

1,376

3.50%,

12/01/2049

1,092

1,037

3.50%,

01/01/2050

5,403

5,052

3.50%,

01/01/2052

4,508

4,210

3.50%,

06/01/2052

796

746

3.50%,

06/01/2052

1,231

1,143

3.50%,

07/01/2052

810

751

3.50%,

07/01/2052

8,939

8,403

3.50%,

08/01/2052

3,238

3,032

3.50%,

10/01/2052

2,441

2,262

4.00%,

04/01/2029

4.00%,

12/01/2030

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

4.00%,

03/01/2031

$

$

4.00%,

11/01/2031

4.00%,

11/01/2033

4.00%,

10/01/2034

4.00%,

02/01/2036

4.00%,

01/01/2037

4.00%,

10/01/2037

500

4.00%,

10/01/2037

4.00%,

03/01/2038

4.00%,

07/01/2038

4.00%,

12/01/2038

4.00%,

01/01/2039

4.00%,

01/01/2041

4.00%,

02/01/2041

4.00%,

12/01/2041

4.00%,

06/01/2042

4.00%,

06/01/2042

4.00%,

07/01/2042

4.00%,

12/01/2042

4.00%,

09/01/2044

4.00%,

11/01/2044

4.00%,

10/01/2049

1,400

1,354

4.00%,

11/01/2049

578

560

4.00%,

04/01/2050

1,131

1,093

4.00%,

05/01/2052

4,118

4,000

4.00%,

07/01/2052

1,040

997

4.00%,

08/01/2052

6,142

5,887

4.00%,

08/01/2052

2,641

2,531

4.00%,

09/01/2052

3,333

3,194

4.00%,

10/01/2052

1,028

989

4.00%,

01/01/2053

4,821

4,669

4.00%,

05/01/2053

1,947

1,871

4.00%,

07/01/2053

1,189

1,139

4.50%,

06/01/2029

4.50%,

07/01/2029

4.50%,

08/01/2030

4.50%,

01/01/2034

4.50%,

01/01/2040

679

679

4.50%,

08/01/2052

2,069

2,035

4.50%,

10/01/2052

3,110

3,061

4.50%,

10/01/2052

4,604

4,566

4.50%,

05/01/2053

4,534

4,488

4.50%,

07/01/2053

5,092

5,058

4.50%,

08/01/2053

2,397

2,370

4.50%,

04/01/2054

992

983

5.00%,

08/01/2039

593

600

5.00%,

12/01/2039

5.00%,

09/01/2040

1,213

1,238

5.00%,

08/01/2052

1,845

1,868

5.00%,

11/01/2052

3,983

4,024

5.00%,

04/01/2053

1,603

1,612

5.00%,

04/01/2053

7,466

7,485

5.00%,

05/01/2053

4,935

4,990

5.00%,

06/01/2053

2,439

2,464

5.00%,

06/01/2053

1,762

1,767

5.00%,

05/01/2054

972

979

5.00%,

11/01/2054

3,980

4,009

5.00%,

12/01/2054

3,314

3,330

5.50%,

03/01/2038

5.50%,

05/01/2038

5.50%,

06/01/2038

5.50%,

09/01/2038

5.50%,

11/01/2038

5.50%,

04/01/2039

5.50%,

10/01/2039

1,781

1,834

5.50%,

04/01/2040

5.50%,

07/01/2040

1,426

1,468

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

5.50%,

03/01/2053

$

3,059

$

3,143

5.50%,

07/01/2053

1,246

1,277

5.50%,

08/01/2053

5,329

5,448

5.50%,

08/01/2053

2,010

2,045

5.50%,

04/01/2054

3,041

3,119

5.50%,

05/01/2054

2,160

2,203

5.50%,

06/01/2054

4,102

4,187

5.50%,

08/01/2054

4,581

4,665

5.50%,

08/01/2054

1,414

1,448

5.50%,

10/01/2054

4,357

4,469

5.50%,

12/01/2054

3,679

3,770

5.50%,

02/01/2055

4,284

4,378

5.50%,

04/01/2055

965

988

5.50%,

04/01/2055

1,920

1,963

5.50%,

06/01/2055

3,448

3,526

5.50%,

08/01/2055

3,708

3,793

6.00%,

10/01/2036

6.00%,

01/01/2053

2,119

2,215

6.00%,

10/01/2053

2,411

2,483

6.00%,

11/01/2053

3,036

3,149

6.00%,

03/01/2054

1,852

1,919

6.00%,

06/01/2054

2,786

2,889

6.00%,

07/01/2054

2,614

2,714

6.00%,

07/01/2054

2,611

2,710

6.00%,

08/01/2054

4,718

4,871

6.00%,

08/01/2054

2,682

2,789

6.00%,

09/01/2054

3,741

3,890

6.00%,

09/01/2054

5,386

5,551

6.00%,

11/01/2054

2,338

2,425

6.00%,

11/01/2054

2,102

2,181

6.00%,

04/01/2055

1,093

1,134

6.00%,

09/01/2055

2,400

2,486

6.50%,

10/01/2053

884

927

6.50%,

01/01/2054

3,995

4,189

6.50%,

01/01/2054

2,479

2,615

6.50%,

02/01/2054

2,398

2,521

6.50%,

05/01/2054

2,086

2,188

6.50%,

07/01/2054

1,618

1,692

6.50%,

04/01/2055

2,980

3,135

6.50%,

05/01/2055

1,892

1,963

$

516,584

Government

National

Mortgage

Association

(GNMA)

-

.14

%

2.00%,

02/20/2051

6,937

5,777

2.00%,

05/20/2051

5,273

4,391

2.00%,

07/20/2051

9,838

8,192

2.00%,

08/20/2051

3,377

2,812

2.00%,

11/20/2051

2,142

1,783

2.50%,

06/20/2027

2.50%,

12/20/2030

2.50%,

03/20/2031

2.50%,

07/20/2043

2.50%,

12/20/2046

2.50%,

01/20/2047

2.50%,

06/20/2050

2,177

1,893

2.50%,

04/20/2051

2,338

2,031

2.50%,

05/20/2051

7,302

6,342

2.50%,

07/20/2051

10,235

8,886

2.50%,

09/20/2051

5,604

4,866

3.00%,

02/15/2027

3.00%,

08/20/2029

3.00%,

09/20/2029

3.00%,

07/20/2030

3.00%,

01/20/2031

3.00%,

07/20/2032

3.00%,

03/20/2043

3.00%,

03/20/2043

3.00%,

04/20/2043

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

3.00%,

06/20/2043

$

$

3.00%,

08/20/2043

3.00%,

12/15/2044

3.00%,

01/15/2045

3.00%,

01/15/2045

3.00%,

02/20/2045

3.00%,

05/20/2045

3.00%,

12/20/2045

3.00%,

01/20/2046

3.00%,

03/20/2046

3.00%,

05/20/2046

3.00%,

06/20/2046

3.00%,

08/20/2046

3.00%,

09/20/2046

3.00%,

10/20/2046

3.00%,

12/15/2046

3.00%,

07/20/2051

1,586

1,432

3.00%,

09/20/2051

5,100

4,606

3.00%,

12/20/2051

10,475

9,457

3.50%,

05/20/2042

3.50%,

06/20/2042

3.50%,

07/20/2042

3.50%,

09/20/2042

3.50%,

10/20/2042

3.50%,

11/20/2042

3.50%,

12/20/2042

3.50%,

01/20/2043

3.50%,

02/20/2043

3.50%,

03/20/2043

3.50%,

04/15/2043

3.50%,

04/20/2043

3.50%,

05/20/2043

3.50%,

07/20/2043

3.50%,

08/20/2043

3.50%,

09/20/2043

3.50%,

10/20/2043

3.50%,

09/20/2044

3.50%,

10/20/2044

3.50%,

11/20/2044

3.50%,

12/20/2044

3.50%,

01/20/2045

3.50%,

02/20/2045

3.50%,

03/15/2045

3.50%,

03/20/2045

3.50%,

04/15/2045

3.50%,

04/20/2045

3.50%,

04/20/2045

3.50%,

05/20/2045

3.50%,

06/20/2045

3.50%,

07/20/2045

3.50%,

08/20/2045

3.50%,

09/20/2045

3.50%,

10/20/2045

3.50%,

11/20/2045

3.50%,

12/20/2045

3.50%,

02/20/2046

3.50%,

08/15/2046

3.50%,

09/15/2046

3.50%,

01/15/2048

3.50%,

02/20/2048

3,759

3,510

3.50%,

08/20/2048

1,288

1,203

3.50%,

09/15/2048

3.50%,

04/20/2052

4,169

3,856

3.50%,

08/20/2052

2,116

1,953

4.00%,

02/20/2044

4.00%,

05/15/2044

4.00%,

05/20/2044

4.00%,

07/20/2044

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

4.00%,

08/20/2044

$

$

4.00%,

09/20/2044

4.00%,

10/20/2044

4.00%,

11/15/2044

4.00%,

11/20/2044

4.00%,

12/20/2044

4.00%,

01/20/2045

4.00%,

03/20/2045

4.00%,

08/20/2045

4.00%,

09/15/2045

4.00%,

09/20/2045

4.00%,

12/15/2045

4.00%,

02/20/2046

4.00%,

04/20/2046

4.00%,

10/20/2046

4.00%,

01/20/2047

4.00%,

03/20/2047

4.00%,

05/20/2047

4.00%,

11/20/2047

4.00%,

03/20/2049

4.00%,

05/20/2049

619

593

4.00%,

04/20/2052

7,212

6,896

4.00%,

10/20/2052

3,122

2,985

4.50%,

03/15/2039

4.50%,

03/15/2040

4.50%,

07/15/2040

4.50%,

02/20/2041

4.50%,

03/20/2041

4.50%,

05/15/2045

4.50%,

12/20/2046

4.50%,

10/15/2047

4.50%,

02/20/2049

2,380

2,377

4.50%,

05/20/2052

930

917

4.50%,

08/20/2052

2,287

2,255

4.50%,

09/20/2052

5,826

5,740

4.50%,

06/20/2053

2,769

2,721

5.00%,

07/20/2038

5.00%,

04/20/2039

5.00%,

01/20/2045

5.00%,

02/20/2046

5.00%,

12/20/2046

5.00%,

08/20/2048

5.00%,

10/20/2048

5.00%,

12/20/2052

840

844

5.00%,

01/20/2053

5,456

5,477

5.00%,

02/20/2053

1,262

1,267

5.00%,

04/20/2053

2,567

2,576

5.00%,

09/20/2053

1,697

1,701

5.00%,

10/20/2053

5,352

5,369

5.00%,

04/20/2054

1,930

1,930

5.50%,

03/15/2038

5.50%,

02/15/2039

5.50%,

06/15/2040

5.50%,

07/20/2044

5.50%,

09/20/2044

5.50%,

12/20/2048

5.50%,

03/20/2053

3,706

3,767

5.50%,

06/20/2053

4,040

4,104

5.50%,

08/20/2053

2,991

3,040

5.50%,

10/20/2053

2,202

2,236

5.50%,

12/20/2053

4,040

4,099

5.50%,

04/20/2054

3,149

3,191

5.50%,

07/20/2054

2,571

2,605

6.00%,

07/20/2053

3,625

3,717

6.00%,

10/20/2053

3,380

3,464

6.00%,

03/20/2054

3,371

3,437

6.00%,

04/20/2054

1,882

1,925

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

Government

National

Mortgage

Association

(GNMA)

(continued)

6.50%,

01/20/2056

(k) $

4,500

$

4,631

$

167,483

U.S.

Treasury

-

.29

%

0.38%,

07/31/2027

6,345

6,024

0.38%,

09/30/2027

5,215

4,927

0.50%,

04/30/2027

4,175

4,000

0.50%,

05/31/2027

4,955

4,736

0.50%,

06/30/2027

3,790

3,615

0.50%,

08/31/2027

7,780

7,384

0.50%,

10/31/2027

5,120

4,837

0.63%,

03/31/2027

3,635

3,497

0.63%,

11/30/2027

7,625

7,205

0.63%,

12/31/2027

6,650

6,269

0.63%,

05/15/2030

12,765

11,222

0.63%,

08/15/2030

15,065

13,140

0.75%,

01/31/2028

10,210

9,630

0.88%,

11/15/2030

13,310

11,674

1.00%,

07/31/2028

8,595

8,054

1.13%,

02/28/2027

605

587

1.13%,

02/29/2028

5,245

4,979

1.13%,

08/31/2028

7,015

6,583

1.13%,

02/15/2031

12,680

11,208

1.13%,

05/15/2040

3,250

2,103

1.13%,

08/15/2040

3,885

2,488

1.25%,

12/31/2026

9,625

9,385

1.25%,

03/31/2028

6,615

6,287

1.25%,

04/30/2028

10,140

9,618

1.25%,

05/31/2028

8,310

7,868

1.25%,

06/30/2028

9,680

9,148

1.25%,

09/30/2028

5,880

5,527

1.25%,

08/15/2031

10,605

9,287

1.25%,

05/15/2050

6,195

3,073

1.38%,

10/31/2028

8,830

8,314

1.38%,

12/31/2028

7,435

6,978

1.38%,

11/15/2031

11,485

10,063

1.38%,

11/15/2040

4,490

2,973

1.38%,

08/15/2050

4,950

2,518

1.50%,

01/31/2027

1,475

1,440

1.50%,

11/30/2028

6,840

6,453

1.50%,

02/15/2030

12,175

11,202

1.63%,

08/15/2029

3,560

3,329

1.63%,

05/15/2031

11,030

9,933

1.63%,

11/15/2050

7,265

3,944

1.75%,

12/31/2026

2,055

2,015

1.75%,

01/31/2029

8,580

8,130

1.75%,

11/15/2029

2,360

2,207

1.75%,

08/15/2041

6,540

4,501

1.88%,

02/28/2027

3,815

3,736

1.88%,

02/28/2029

5,360

5,092

1.88%,

02/15/2032

10,485

9,414

1.88%,

02/15/2041

5,820

4,147

1.88%,

02/15/2051

6,040

3,488

1.88%,

11/15/2051

6,400

3,659

2.00%,

11/15/2041

5,285

3,763

2.00%,

02/15/2050

3,950

2,389

2.00%,

08/15/2051

5,460

3,234

2.25%,

02/15/2027

5,290

5,207

2.25%,

08/15/2027

4,875

4,772

2.25%,

11/15/2027

6,555

6,400

2.25%,

05/15/2041

4,570

3,429

2.25%,

08/15/2046

4,160

2,808

2.25%,

08/15/2049

6,140

3,962

2.25%,

02/15/2052

6,160

3,860

2.38%,

05/15/2027

4,230

4,160

2.38%,

03/31/2029

6,075

5,857

2.38%,

05/15/2029

6,050

5,824

2.38%,

02/15/2042

6,020

4,517

2.38%,

11/15/2049

3,305

2,185

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

2.38%,

05/15/2051

$

6,765

$

4,400

2.50%,

03/31/2027

7,945

7,835

2.50%,

02/15/2045

3,795

2,750

2.50%,

02/15/2046

4,005

2,858

2.50%,

05/15/2046

2,720

1,935

2.63%,

05/31/2027

3,865

3,813

2.63%,

02/15/2029

7,695

7,487

2.63%,

07/31/2029

2,600

2,519

2.75%,

04/30/2027

4,420

4,371

2.75%,

07/31/2027

13,665

13,491

2.75%,

02/15/2028

8,515

8,382

2.75%,

05/31/2029

2,500

2,436

2.75%,

08/15/2032

7,965

7,486

2.75%,

08/15/2042

739

582

2.75%,

11/15/2042

1,090

855

2.75%,

08/15/2047

2,285

1,675

2.75%,

11/15/2047

1,605

1,173

2.88%,

05/15/2028

3,870

3,814

2.88%,

08/15/2028

13,970

13,751

2.88%,

04/30/2029

4,605

4,509

2.88%,

05/15/2032

10,200

9,692

2.88%,

05/15/2043

2,880

2,282

2.88%,

08/15/2045

2,575

1,978

2.88%,

11/15/2046

600

2.88%,

05/15/2049

4,490

3,310

2.88%,

05/15/2052

6,300

4,540

3.00%,

05/15/2042

1,705

1,399

3.00%,

11/15/2044

4,710

3,726

3.00%,

05/15/2045

2,280

1,795

3.00%,

11/15/2045

1,950

1,526

3.00%,

02/15/2047

3,175

2,451

3.00%,

05/15/2047

4,205

3,238

3.00%,

02/15/2048

3,415

2,609

3.00%,

08/15/2048

1,210

919

3.00%,

02/15/2049

3,190

2,413

3.00%,

08/15/2052

4,610

3,406

3.13%,

08/31/2027

1,290

1,281

3.13%,

11/15/2028

11,250

11,134

3.13%,

08/31/2029

3,010

2,965

3.13%,

11/15/2041

3.13%,

02/15/2042

1,140

956

3.13%,

02/15/2043

815

673

3.13%,

08/15/2044

2,590

2,097

3.13%,

05/15/2048

1,030

803

3.25%,

06/30/2027

5,950

5,924

3.25%,

06/30/2029

4,380

4,337

3.25%,

05/15/2042

5,235

4,450

3.38%,

05/15/2033

9,200

8,930

3.38%,

08/15/2042

3,025

2,607

3.38%,

11/15/2048

3,175

2,577

3.50%,

09/30/2027

3,860

3,859

3.50%,

01/31/2028

3,970

3,970

3.50%,

04/30/2028

3,820

3,821

3.50%,

09/30/2029

9,035

9,018

3.50%,

01/31/2030

7,810

7,790

3.50%,

04/30/2030

3,395

3,384

3.50%,

02/15/2033

8,390

8,225

3.50%,

02/15/2039

1,130

1,046

3.63%,

03/31/2028

3,180

3,190

3.63%,

08/31/2029

2,540

2,547

3.63%,

03/31/2030

6,730

6,743

3.63%,

08/31/2030

880

881

3.63%,

09/30/2030

2,595

2,597

3.63%,

09/30/2031

1,915

1,908

3.63%,

08/15/2043

2,410

2,124

3.63%,

02/15/2044

1,245

1,092

3.63%,

02/15/2053

3,965

3,308

3.63%,

05/15/2053

7,665

6,387

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

3.75%,

06/30/2027

$

7,720

$

7,744

3.75%,

08/15/2027

5,155

5,173

3.75%,

12/31/2028

6,315

6,360

3.75%,

05/31/2030

2,265

2,280

3.75%,

06/30/2030

5,090

5,124

3.75%,

12/31/2030

1,970

1,981

3.75%,

08/31/2031

9,060

9,091

3.75%,

08/15/2041

2,175

1,996

3.75%,

11/15/2043

1,250

1,118

3.88%,

05/31/2027

5,555

5,581

3.88%,

07/31/2027

4,470

4,494

3.88%,

10/15/2027

4,790

4,820

3.88%,

11/30/2027

4,725

4,758

3.88%,

12/31/2027

5,365

5,405

3.88%,

03/15/2028

5,120

5,163

3.88%,

09/30/2029

6,260

6,332

3.88%,

11/30/2029

2,300

2,327

3.88%,

04/30/2030

4,425

4,478

3.88%,

06/30/2030

4,235

4,286

3.88%,

07/31/2030

1,350

1,366

3.88%,

08/31/2032

1,350

1,358

3.88%,

09/30/2032

1,270

1,277

3.88%,

08/15/2033

10,170

10,189

3.88%,

08/15/2034

11,485

11,437

3.88%,

08/15/2040

1,350

1,270

3.88%,

02/15/2043

2,125

1,950

3.88%,

05/15/2043

1,060

970

4.00%,

12/15/2027

2,660

2,686

4.00%,

02/29/2028

3,380

3,416

4.00%,

06/30/2028

2,640

2,674

4.00%,

01/31/2029

2,680

2,719

4.00%,

07/31/2029

5,130

5,210

4.00%,

02/28/2030

12,340

12,546

4.00%,

05/31/2030

9,220

9,379

4.00%,

07/31/2030

5,145

5,234

4.00%,

01/31/2031

7,695

7,827

4.00%,

04/30/2032

3,255

3,303

4.00%,

06/30/2032

4,340

4,401

4.00%,

07/31/2032

5,930

6,011

4.00%,

02/15/2034

10,630

10,714

4.00%,

11/15/2042

3,690

3,449

4.00%,

11/15/2052

7,995

7,138

4.13%,

02/28/2027

17,500

17,611

4.13%,

09/30/2027

6,975

7,049

4.13%,

10/31/2027

4,750

4,804

4.13%,

11/15/2027

2,150

2,175

4.13%,

07/31/2028

8,455

8,591

4.13%,

03/31/2029

5,800

5,909

4.13%,

10/31/2029

1,000

1,021

4.13%,

11/30/2029

10,715

10,938

4.13%,

08/31/2030

1,075

1,099

4.13%,

07/31/2031

9,165

9,374

4.13%,

10/31/2031

4,015

4,105

4.13%,

11/30/2031

6,155

6,293

4.13%,

02/29/2032

5,270

5,385

4.13%,

03/31/2032

2,905

2,968

4.13%,

05/31/2032

3,575

3,652

4.13%,

11/15/2032

8,815

8,996

4.13%,

08/15/2044

3,585

3,361

4.13%,

08/15/2053

3,930

3,584

4.25%,

03/15/2027

22,215

22,399

4.25%,

02/28/2029

6,355

6,496

4.25%,

06/30/2029

5,900

6,041

4.25%,

02/28/2031

2,640

2,717

4.25%,

06/30/2031

4,620

4,756

4.25%,

11/15/2034

10,515

10,751

4.25%,

05/15/2035

12,755

13,018

4.25%,

08/15/2035

4,505

4,592

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

(continued)

4.25%,

05/15/2039

$

3,400

$

3,382

4.25%,

11/15/2040

1,088

1,067

4.25%,

02/15/2054

7,180

6,686

4.25%,

08/15/2054

6,660

6,202

4.38%,

07/15/2027

5,770

5,845

4.38%,

08/31/2028

3,915

4,004

4.38%,

01/31/2032

6,205

6,426

4.38%,

05/15/2034

10,690

11,052

4.38%,

02/15/2038

506

4.38%,

11/15/2039

1,700

1,703

4.38%,

05/15/2040

1,545

1,542

4.38%,

05/15/2041

2,990

2,963

4.38%,

08/15/2043

1,645

1,604

4.50%,

04/15/2027

4,605

4,661

4.50%,

05/15/2027

4,445

4,504

4.50%,

12/31/2031

8,910

9,289

4.50%,

11/15/2033

9,935

10,368

4.50%,

02/15/2036

1,630

1,703

4.50%,

05/15/2038

1,200

1,239

4.50%,

08/15/2039

730

743

4.50%,

02/15/2044

3,835

3,789

4.50%,

11/15/2054

6,850

6,653

4.63%,

06/15/2027

16,890

17,159

4.63%,

09/30/2028

6,215

6,404

4.63%,

04/30/2029

6,920

7,163

4.63%,

09/30/2030

1,460

1,525

4.63%,

04/30/2031

2,775

2,907

4.63%,

05/31/2031

12,215

12,799

4.63%,

02/15/2035

11,305

11,873

4.63%,

02/15/2040

1,220

1,252

4.63%,

05/15/2044

4,030

4,041

4.63%,

11/15/2044

6,255

6,257

4.63%,

05/15/2054

6,335

6,280

4.63%,

02/15/2055

6,445

6,391

4.75%,

02/15/2037

1,250

1,327

4.75%,

02/15/2041

3,994

4,133

4.75%,

02/15/2045

3,865

3,926

4.75%,

11/15/2053

4,430

4,475

4.75%,

05/15/2055

6,440

6,517

4.75%,

08/15/2055

3,875

3,923

4.88%,

08/15/2045

2,760

2,846

5.00%,

05/15/2037

885

959

5.00%,

05/15/2045

3,925

4,114

5.25%,

11/15/2028

5.25%,

02/15/2029

795

838

5.38%,

02/15/2031

1,100

1,190

5.50%,

08/15/2028

1,115

1,173

6.13%,

11/15/2027

700

735

6.25%,

05/15/2030

1,050

1,165

6.38%,

08/15/2027

1,540

1,613

6.63%,

02/15/2027

$

1,235,656

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

1,925,859

Total

Investments

$

2,725,603

Other

Assets

and

Liabilities

- 0.09%

2,589

TOTAL

NET

ASSETS

-

100.00%

$

2,728,192

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$6,239

or

0.23%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Schedule

of

Investments

Bond

Market

Index

Fund

November

30,

2025

(unaudited)

(d) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$6,014

or

0.22%

of

net

assets.

(e) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(f) Non-income

producing

security

(g) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,663

or

0.10%

of

net

assets.

(h) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(i) Security

purchased

on

a

when-issued

basis.

(j) Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(k) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

58,724

$

193,197

$

211,804

$

40,117

$

58,724

$

193,197

$

211,804

$

40,117

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Capital

Securities

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.27

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.13

%

Invesco

Preferred

ETF

123,647

$

1,396

Money

Market

Funds

-

.14

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.88%

(a),(b)

38,852

Principal

Government

Money

Market

Fund

-

Class

3.87%

(a),(b),(c)

22,153,001

22,153

$

22,192

TOTAL

INVESTMENT

COMPANIES

$

23,588

PREFERRED

STOCKS

-

.16

%

Shares

Held

Value

(000's)

Banks

-

.62

%

Cullen/Frost

Bankers

Inc

4.45%,

03/15/2026

(d) 55,739

$

1,001

Regions

Financial

Corp

6.95%,

09/15/2029

(d) 107,520

2,754

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.77%

US

Bancorp

4.77%,

01/01/2026

(d) 11,995

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.86%

Wintrust

Financial

Corp

7.88%,

07/15/2030

(d) 95,600

2,510

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.88%

$

6,485

Diversified

Financial

Services

-

.02

%

Affiliated

Managers

Group

Inc

4.20%,

09/30/2061

9,119

Affiliated

Managers

Group

Inc

5.88%,

03/30/2059

1,353

$

Insurance

-

.31

%

Assurant

Inc

5.25%,

01/15/2061

30,926

611

Corebridge

Financial

Inc

6.38%,

12/15/2064

109,872

2,610

$

3,221

REITs

-

.21

%

Public

Storage

4.10%,

01/13/2027

(d) 5,800

Public

Storage

4.13%,

12/31/2025

(d) 12,718

Public

Storage

5.60%,

01/01/2026

(d) 14,106

Rexford

Industrial

Realty

Inc

5.63%,

12/21/2025

(d) 70,660

1,530

$

2,166

TOTAL

PREFERRED

STOCKS

$

12,045

BONDS

-

.85

%

Principal

Amount

(000's)

Value

(000's)

Banks

-

.59

%

Australia

&

New

Zealand

Banking

Group

Ltd/

United

Kingdom

6.75%,

06/15/2026

(d),(e),(f),(g)

$

1,900

$

1,919

USD

Swap

Rate

NY

Year

+

5.17%

Banco

Bilbao

Vizcaya

Argentaria

SA

6.13%,

11/16/2027

(d),(e),(f)

600

602

USD

Swap

Semi-Annual

Year

+

3.87%

7.75%,

01/14/2032

(d),(e),(f)

9,700

10,309

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.25%

9.38%,

03/19/2029

(d),(e),(f)

8,500

9,456

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.10%

Banco

Santander

SA

8.00%,

02/01/2034

(d),(e),(f)

1,000

1,110

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.91%

9.63%,

11/21/2028

(d),(e),(f)

3,000

3,339

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.31%

9.63%,

05/21/2033

(d),(e),(f)

5,000

6,036

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.30%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

America

Corp

6.13%,

04/27/2027

(d),(e)

$

10,304

$

10,402

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.23%

6.63%,

05/01/2030

(d),(e)

14,500

15,037

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

Bank

of

Montreal

6.88%,

11/26/2085

(e) 4,800

4,931

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.98%

7.30%,

11/26/2084

(e) 2,500

2,656

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.01%

7.70%,

05/26/2084

(e) 7,834

8,309

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.45%

Bank

of

New

York

Mellon

Corp/The

3.70%,

03/20/2026

(d),(e),(h)

6,618

6,576

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.35%

3.75%,

12/20/2026

(d),(e)

14,600

14,345

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.63%

Bank

of

Nova

Scotia/The

3.63%,

10/27/2081

(e) 3,760

3,626

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.61%

6.88%,

10/27/2085

(e) 23,600

23,808

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.73%

7.35%,

04/27/2085

(e) 3,675

3,811

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

8.00%,

01/27/2084

(e) 6,325

6,746

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.02%

8.63%,

10/27/2082

(e) 3,300

3,499

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.39%

Barclays

PLC

4.38%,

03/15/2028

(d),(e),(f),(h)

18,000

17,267

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.41%

7.63%,

03/15/2035

(d),(e),(f)

1,000

1,055

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.69%

8.00%,

03/15/2029

(d),(e),(f)

1,200

1,269

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.43%

9.63%,

12/15/2029

(d),(e),(f)

1,800

2,029

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

5.78%

BNP

Paribas

SA

4.50%,

02/25/2030

(d),(e),(f),(g)

3,500

3,211

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.94%

4.63%,

02/25/2031

(d),(e),(f),(g)

7,000

6,348

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.34%

7.45%,

06/27/2035

(d),(e),(f),(g)

2,600

2,711

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.13%

7.45%,

06/27/2035

(d),(e),(f)

2,000

2,085

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.13%

Schedule

of

Investments

Capital

Securities

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

BNP

Paribas

SA

(continued)

8.50%,

08/14/2028

(d),(e),(f),(g)

$

2,000

$

2,127

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.35%

9.25%,

11/17/2027

(d),(e),(f),(g)

5,000

5,315

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.97%

9.25%,

11/17/2027

(d),(e),(f)

1,400

1,488

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.97%

Canadian

Imperial

Bank

of

Commerce

6.95%,

01/28/2085

(e) 5,500

5,606

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.83%

7.00%,

10/28/2085

(e) 8,800

9,074

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.00%

Citigroup

Inc

6.75%,

02/15/2030

(d),(e)

5,000

5,038

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.57%

6.88%,

08/15/2030

(d),(e)

11,000

11,259

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.89%

6.95%,

02/15/2030

(d),(e)

5,000

5,118

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.73%

7.00%,

08/15/2034

(d),(e)

6,760

7,178

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.76%

7.13%,

08/15/2029

(d),(e)

1,500

1,537

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.69%

7.38%,

05/15/2028

(d),(e)

3,600

3,715

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.21%

Citizens

Financial

Group

Inc

4.00%,

10/06/2026

(d),(e),(h)

4,900

4,812

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.22%

7.35%,

01/06/2026

(d),(h)

3,462

3,456

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.42%

Credit

Agricole

SA

7.13%,

09/23/2035

(d),(e),(f),(g)

4,300

4,445

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.58%

Deutsche

Bank

AG

8.13%,

04/30/2030

(d),(e),(f)

7,000

7,441

USD

Secured

Overnight

Financing

Rate

Spread-Adj.

ICE

Swap

Rate

Year

+

4.36%

Goldman

Sachs

Group

Inc/The

6.85%,

02/10/2030

(d),(e)

1,444

1,498

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.46%

7.50%,

05/10/2029

(d),(e)

21,500

22,693

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.81%

7.50%,

02/10/2029

(d),(e),(h)

1,000

1,062

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.16%

HSBC

Holdings

PLC

6.00%,

05/22/2027

(d),(e),(f)

3,000

3,021

USD

Swap

Rate

NY

Year

+

3.75%

6.50%,

03/23/2028

(d),(e),(f)

500

510

USD

Swap

Rate

NY

Year

+

3.61%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

HSBC

Holdings

PLC

(continued)

7.05%,

06/05/2030

(d),(e),(f)

$

1,000

$

1,037

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.99%

8.00%,

03/07/2028

(d),(e),(f)

5,000

5,279

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.86%

Huntington

Bancshares

Inc/OH

4.45%,

10/15/2027

(d),(e)

16,885

16,530

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.05%

5.63%,

07/15/2030

(d),(e)

8,010

8,137

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.95%

6.25%,

10/15/2030

(d),(e)

4,660

4,597

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

Huntington

Capital

II

4.92%,

06/15/2028

2,400

2,312

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.89%

ING

Groep

NV

5.75%,

11/16/2026

(d),(e),(f)

2,515

2,521

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.34%

7.00%,

11/16/2032

(d),(e),(f)

4,000

4,133

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.59%

7.25%,

11/16/2034

(d),(e),(f)

5,000

5,282

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

4.08%

JPMorgan

Chase

&

Co

6.50%,

04/01/2030

(d),(e)

10,500

10,845

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.15%

6.88%,

06/01/2029

(d),(e)

10,100

10,653

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.74%

KeyCorp

5.00%,

09/15/2026

(d),(e),(h)

3,775

3,751

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.87%

KeyCorp

Capital

I

4.99%,

07/01/2028

1,500

1,467

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.00%

KeyCorp

Capital

III

7.75%,

07/15/2029

2,700

2,855

Lloyds

Banking

Group

PLC

6.63%,

09/27/2035

(d),(e),(f)

2,500

2,485

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

6.75%,

09/27/2031

(d),(e),(f),(h)

900

928

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.15%

8.00%,

09/27/2029

(d),(e),(f)

2,000

2,155

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.91%

M&T

Bank

Corp

3.50%,

09/01/2026

(d),(e)

8,000

7,720

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

5.13%,

11/01/2026

(d),(e),(h)

4,000

3,976

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.78%

Schedule

of

Investments

Capital

Securities

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

NatWest

Group

PLC

4.60%,

06/28/2031

(d),(e),(f)

$

18,000

$

16,534

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.10%

Nordea

Bank

Abp

6.63%,

03/26/2026

(d),(e),(f),(g)

5,400

5,426

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.11%

6.75%,

11/10/2033

(d),(e),(f),(g)

4,000

4,091

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.72%

PNC

Capital

Trust

C

5.00%,

06/01/2028

3,000

2,951

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.83%

PNC

Financial

Services

Group

Inc/The

6.00%,

05/15/2027

(d),(e)

5,600

5,636

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.00%

6.20%,

09/15/2027

(d),(e),(h)

2,000

2,030

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.24%

6.25%,

03/15/2030

(d),(e)

13,500

13,871

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.81%

Royal

Bank

of

Canada

6.35%,

11/24/2084

(e) 8,550

8,430

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.26%

6.50%,

11/24/2085

(e) 4,800

4,781

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.46%

7.50%,

05/02/2084

(e) 21,094

22,331

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.89%

Societe

Generale

SA

8.50%,

03/25/2034

(d),(e),(f),(g)

3,600

3,938

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.15%

10.00%,

11/14/2028

(d),(e),(f),(g)

7,000

7,718

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.45%

10.00%,

11/14/2028

(d),(e),(f)

600

662

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.45%

Standard

Chartered

PLC

4.75%,

01/14/2031

(d),(e),(f),(h)

12,500

11,722

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.81%

7.01%,

07/30/2037

(d),(e),(g)

7,100

7,455

Month

USD

LIBOR

+

1.46%

7.01%,

07/30/2037

(d),(e)

2,000

2,100

Month

USD

LIBOR

+

1.46%

7.63%,

01/16/2032

(d),(e),(f),(g)

2,100

2,231

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.02%

7.88%,

03/08/2030

(d),(e),(f),(g)

1,000

1,072

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.57%

State

Street

Corp

6.45%,

09/15/2030

(d),(e)

3,800

3,937

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.14%

6.70%,

09/15/2029

(d),(e),(h)

10,800

11,249

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.63%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

State

Street

Corp

(continued)

6.70%,

03/15/2029

(d),(e)

$

6,900

$

7,161

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.61%

Swedbank

AB

7.75%,

03/17/2030

(d),(e),(f)

3,000

3,223

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.66%

Toronto-Dominion

Bank/The

7.25%,

07/31/2084

(e) 1,000

1,051

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.98%

8.13%,

10/31/2082

(e) 14,201

14,926

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.08%

Truist

Financial

Corp

4.78%,

05/15/2027

4,500

4,468

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.93%

5.10%,

03/01/2030

(d),(e)

2,000

2,006

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.35%

UBS

Group

AG

4.38%,

02/10/2031

(d),(e),(f)

2,500

2,270

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.31%

4.88%,

02/12/2027

(d),(e),(f),(g)

12,000

11,835

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.40%

6.60%,

08/05/2030

(d),(e),(f),(g)

3,900

3,926

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.12%

7.00%,

02/10/2030

(d),(e),(f),(g)

2,000

2,038

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.08%

7.00%,

02/05/2035

(d),(e),(f),(h)

6,000

6,087

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.30%

9.25%,

11/13/2033

(d),(e),(f),(g)

12,000

14,060

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.76%

US

Bancorp

3.70%,

01/15/2027

(d),(e)

32,500

31,551

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.54%

Wells

Fargo

&

Co

6.85%,

09/15/2029

(d),(e)

9,705

10,166

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.77%

7.63%,

09/15/2028

(d),(e),(h)

10,696

11,392

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.61%

$

639,873

Diversified

Financial

Services

-

.62

%

American

Express

Co

3.55%,

09/15/2026

(d),(e)

16,789

16,491

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.85%

Capital

One

Financial

Corp

3.95%,

09/01/2026

(d),(e)

10,200

10,052

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.16%

Charles

Schwab

Corp/The

4.00%,

06/01/2026

(d),(e)

19,700

19,552

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.17%

Schedule

of

Investments

Capital

Securities

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Nomura

Holdings

Inc

7.00%,

07/15/2030

(d),(e),(f)

$

600

$

616

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.08%

Voya

Financial

Inc

4.70%,

01/23/2048

(e) 10,800

10,213

Month

USD

LIBOR

+

2.08%

7.76%,

09/15/2028

(d),(e),(h)

1,400

1,481

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.36%

$

58,405

Electric

-

.80

%

Algonquin

Power

&

Utilities

Corp

4.75%,

01/18/2082

(e) 5,000

4,927

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.25%

Alliant

Energy

Corp

5.75%,

04/01/2056

(e) 500

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.08%

American

Electric

Power

Co

Inc

3.88%,

02/15/2062

(e) 7,100

6,910

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

5.80%,

03/15/2056

(e) 2,700

2,681

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.13%

6.05%,

03/15/2056

(e) 4,400

4,399

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.94%

6.95%,

12/15/2054

(e) 2,000

2,160

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

7.05%,

12/15/2054

(e) 2,600

2,729

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.75%

Dominion

Energy

Inc

4.35%,

01/15/2027

(d),(e)

1,150

1,136

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.20%

6.63%,

05/15/2055

(e) 4,500

4,657

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.21%

Duke

Energy

Corp

3.25%,

01/15/2082

(e) 5,000

4,824

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.32%

Electricite

de

France

SA

9.13%,

03/15/2033

(d),(e)

6,800

7,868

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.41%

9.13%,

03/15/2033

(d),(e),(g)

2,000

2,314

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.41%

Entergy

Corp

6.10%,

06/15/2056

(e) 400

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.01%

EUSHI

Finance

Inc

6.25%,

04/01/2056

(e) 1,100

1,101

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.51%

7.63%,

12/15/2054

(e) 500

527

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.14%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Evergy

Inc

6.65%,

06/01/2055

(e) $

1,000

$

1,019

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.56%

NextEra

Energy

Capital

Holdings

Inc

6.31%,

10/01/2066

2,291

2,017

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.33%

6.70%,

09/01/2054

(e) 2,700

2,806

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.36%

Sempra

6.55%,

04/01/2055

(e) 3,580

3,627

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.14%

6.63%,

04/01/2055

(e) 1,500

1,516

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.35%

Southern

Co/The

6.38%,

03/15/2055

(e) 2,000

2,117

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.07%

$

60,235

Food

-

.67

%

Dairy

Farmers

of

America

Inc

7.13%,

12/01/2026

(d),(g)

7,000

6,947

Gas

-

.75

%

AltaGas

Ltd

7.20%,

10/15/2054

(e),(g)

1,500

1,552

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.57%

NiSource

Inc

6.95%,

11/30/2054

(e) 6,000

6,251

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.45%

$

7,803

Insurance

-

.22

%

ACE

Capital

Trust

II

9.70%,

04/01/2030

2,570

3,095

Corebridge

Financial

Inc

6.38%,

09/15/2054

(e) 1,200

1,210

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

6.88%,

12/01/2030

(d),(e)

1,300

1,329

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.18%

6.88%,

12/15/2052

(e) 7,100

7,253

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.85%

Dai-ichi

Life

Insurance

Co

Ltd/The

6.20%,

01/16/2035

(d),(e),(g)

6,000

6,280

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.52%

Equitable

Holdings

Inc

6.70%,

03/28/2055

(e) 1,600

1,668

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.39%

Liberty

Mutual

Group

Inc

4.13%,

12/15/2051

(e),(g)

11,500

11,277

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.32%

7.80%,

03/07/2087

(g) 6,100

7,020

Month

USD

LIBOR

+

3.58%

Liberty

Mutual

Insurance

Co

7.70%,

10/15/2097

(g) 1,100

1,268

Schedule

of

Investments

Capital

Securities

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Insurance

(continued)

Meiji

Yasuda

Life

Insurance

Co

5.80%,

09/11/2054

(e),(g)

$

3,600

$

3,672

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.03%

6.10%,

06/11/2055

(e),(g)

4,650

4,831

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.91%

MetLife

Capital

Trust

IV

7.88%,

12/15/2067

(g) 2,200

2,448

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.96%

MetLife

Inc

9.25%,

04/08/2068

(g) 10,372

12,407

Month

USD

LIBOR

+

5.54%

10.75%,

08/01/2069

4,300

5,729

Month

USD

LIBOR

+

7.55%

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

5.88%,

05/23/2042

(e),(g)

3,600

3,772

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.98%

Nippon

Life

Insurance

Co

2.75%,

01/21/2051

(e),(g)

4,600

4,167

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

2.90%,

09/16/2051

(e),(g)

10,500

9,413

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.60%

6.50%,

04/30/2055

(e) 1,500

1,611

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.19%

Prudential

Financial

Inc

3.70%,

10/01/2050

(e) 8,000

7,467

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.04%

6.50%,

03/15/2054

(e) 2,000

2,107

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.40%

Reinsurance

Group

of

America

Inc

6.65%,

09/15/2055

(e) 400

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.39%

Sumitomo

Life

Insurance

Co

3.38%,

04/15/2081

(e),(g),(h)

5,000

4,687

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.75%

5.88%,

09/10/2055

(e),(g)

2,000

2,032

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

Swiss

RE

Subordinated

Finance

PLC

5.70%,

04/05/2035

(e),(g)

1,600

1,667

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.81%

6.19%,

04/01/2046

(e),(g)

4,600

4,799

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.13%

Zurich

Finance

Ireland

Designated

Activity

Co

3.00%,

04/19/2051

(e) 21,200

19,188

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.78%

3.50%,

05/02/2052

(e) 7,200

6,559

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.79%

$

137,369

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

-

.77

%

BP

Capital

Markets

PLC

4.88%,

03/22/2030

(d),(e)

$

3,000

$

2,990

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.40%

Phillips

Co

6.20%,

03/15/2056

(e) 5,000

5,007

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.17%

$

7,997

Pipelines

-

.47

%

Enbridge

Inc

5.75%,

07/15/2080

(e) 5,000

5,053

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.31%

6.00%,

01/15/2077

(e) 4,200

4,214

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.15%

6.25%,

03/01/2078

(e) 11,000

11,133

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.90%

7.63%,

01/15/2083

(e),(h)

2,000

2,182

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.42%

8.50%,

01/15/2084

(e) 4,650

5,335

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.43%

Energy

Transfer

LP

6.50%,

02/15/2056

(e) 2,600

2,563

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

6.75%,

02/15/2056

(e) 8,000

7,960

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.48%

Enterprise

Products

Operating

LLC

5.25%,

08/16/2077

(e) 7,938

7,922

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.29%

5.38%,

02/15/2078

(e) 1,300

1,296

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.83%

Transcanada

Trust

5.50%,

09/15/2079

(e) 12,500

12,392

Secured

Overnight

Financing

Rate

+

4.42%

5.60%,

03/07/2082

(e) 7,300

7,188

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.99%

$

67,238

REITs

-

.44

%

Scentre

Group

Trust

5.13%,

09/24/2080

(e),(g),(h)

4,500

4,540

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.69%

Sovereign

-

.41

%

CoBank

ACB

4.25%,

01/01/2027

(d),(e)

2,000

1,950

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.05%

6.25%,

10/01/2026

(d),(e)

1,000

1,002

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.66%

6.45%,

10/01/2027

(d),(e)

5,000

4,965

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.49%

Farm

Credit

Bank

of

Texas

7.00%,

09/15/2030

(d),(e)

6,477

6,678

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.01%

$

14,595

Schedule

of

Investments

Capital

Securities

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

-

.11

%

TELUS

Corp

6.63%,

10/15/2055

(e) $

1,100

$

1,127

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.77%

TOTAL

BONDS

$

1,006,129

Total

Investments

$

1,041,762

Other

Assets

and

Liabilities

- (0.28)%

(2,871)

TOTAL

NET

ASSETS

-

100.00%

$

1,038,891

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$15,379

or

1.48%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(e) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(f) Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$214,362

or

20.63%

of

net

assets.

(g) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$184,959

or

17.80%

of

net

assets.

(h) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$14,804

or

1.42%

of

net

assets.

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

32,192

$

185,842

$

195,881

$

22,153

$

32,192

$

185,842

$

195,881

$

22,153

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.00

%

Shares

Held

Value

(000's)

Closed-End

Funds

-

.16

%

Sprott

Physical

Uranium

Trust

(a) 223,200

$

3,993

Exchange-Traded

Funds

-

.48

%

abrdn

Bloomberg

All

Commodity

Strategy

Free

ETF

263,025

6,000

Global

X

MLP

&

Energy

Infrastructure

ETF

402,400

24,490

Global

X

US

Infrastructure

Development

ETF

(b) 646,200

31,367

iShares

Global

Infrastructure

ETF

189,866

11,973

Schwab

US

TIPS

ETF

220,229

5,926

SPDR

Gold

MiniShares

Trust

(a),(c)

1,333,745

111,314

SPDR

S&P

Global

Natural

Resources

ETF

97,872

5,976

Vanguard

Real

Estate

ETF

109,808

10,030

$

207,076

Money

Market

Funds

-

.36

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.90%

(a),(d)

3,062,678

3,063

BlackRock

Liquidity

Funds

Treasury

Trust

Fund

-

Institutional

Class

3.79%

(a),(d)

2,254,419

2,254

Principal

Government

Money

Market

Fund

-

Class

3.87%

(d),(e),(f)

52,285,294

52,285

$

57,602

TOTAL

INVESTMENT

COMPANIES

$

268,671

COMMON

STOCKS

-

.26

%

Shares

Held

Value

(000's)

Agriculture

-

.57

%

Archer-Daniels-Midland

Co

44,356

$

2,694

Bunge

Global

SA

39,062

3,752

Darling

Ingredients

Inc

(g) 142,691

5,224

Wilmar

International

Ltd

918,500

2,301

$

13,971

Biotechnology

-

.34

%

Corteva

Inc

121,455

8,195

Building

Materials

-

.45

%

Builders

FirstSource

Inc

(g) 3,344

Interfor

Corp

(g) 61,181

Louisiana-Pacific

Corp

12,426

1,019

Masterbrand

Inc

(g) 20,856

Stella-Jones

Inc

9,448

589

Svenska

Cellulosa

AB

SCA

381,602

4,962

UFP

Industries

Inc

5,418

504

West

Fraser

Timber

Co

Ltd

46,623

2,890

$

10,962

Chemicals

-

.89

%

CF

Industries

Holdings

Inc

34,858

2,743

FMC

Corp

11,531

ICL

Group

Ltd

252,822

1,401

Ingevity

Corp

(g) 12,020

628

Methanex

Corp

85,912

3,059

Mosaic

Co/The

139,346

3,413

Nutrien

Ltd

143,871

8,370

Yara

International

ASA

57,035

2,083

$

21,862

Commercial

Services

-

.40

%

Anhui

Expressway

Co

Ltd

330,000

587

Atlas

Arteria

Ltd

2,763,620

9,018

Cengage

Learning

Holdings

II

Inc

(g) 2,772

China

Merchants

Port

Holdings

Co

Ltd

890,000

1,794

COSCO

SHIPPING

Ports

Ltd

1,058,000

762

Hutchison

Port

Holdings

Trust

4,270,000

897

Jiangsu

Expressway

Co

Ltd

964,000

1,239

Shenzhen

Expressway

Corp

Ltd

476,000

Shenzhen

International

Holdings

Ltd

1,065,500

1,182

SIA

Engineering

Co

Ltd

186,200

514

Transurban

Group

1,670,965

16,342

Yuexiu

Transport

Infrastructure

Ltd

544,000

Zhejiang

Expressway

Co

Ltd

1,212,000

1,176

$

34,328

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Consumer

Products

-

.07

%

Avery

Dennison

Corp

7,199

$

1,241

Kimberly-Clark

Corp

4,455

$

1,727

Cosmetics

&

Personal

Care

-

.08

%

Essity

AB

32,973

913

Procter

&

Gamble

Co/The

2,981

Unicharm

Corp

87,500

513

$

1,868

Electric

-

.05

%

American

Electric

Power

Co

Inc

107,958

13,362

Axia

Energia

360,492

4,248

Axia

Energia

ADR

47,323

556

Black

Hills

Corp

20,888

1,541

Brookfield

Renewable

Corp

(b) 203,278

8,434

CGN

Power

Co

Ltd

(h) 667,000

China

Longyuan

Power

Group

Corp

Ltd

176,000

China

Resources

Power

Holdings

Co

Ltd

128,000

Cia

Energetica

de

Minas

Gerais

ADR

111,715

Clearway

Energy

Inc

-

Class

C

159,969

5,858

CLP

Holdings

Ltd

683,000

5,974

CMS

Energy

Corp

100,501

7,582

Consolidated

Edison

Inc

22,094

2,217

Constellation

Energy

Corp

29,977

10,922

Dominion

Energy

Inc

177,817

11,161

Duke

Energy

Corp

47,455

5,882

E.ON

SE

458,201

8,162

Edison

International

70,780

4,168

EDP

Renovaveis

SA

646,204

8,611

Emera

Inc

130,934

6,354

Enel

SpA

1,955,517

20,209

Engie

SA

103,756

2,640

Entergy

Corp

137,530

13,412

Exelon

Corp

267,908

12,624

HK

Electric

Investments

&

HK

Electric

Investments

Ltd

2,135,000

1,714

Huaneng

Power

International

Inc

238,000

Iberdrola

SA

712,192

15,033

National

Grid

PLC

1,205,566

18,317

NextEra

Energy

Inc

388,696

33,541

OGE

Energy

Corp

137,330

6,287

PG&E

Corp

609,251

9,821

Portland

General

Electric

Co

82,975

4,217

Public

Service

Enterprise

Group

Inc

79,246

6,619

Redeia

Corp

SA

544,933

9,730

Sempra

154,674

14,651

Southern

Co/The

66,710

6,079

SSE

PLC

496,944

14,457

Terna

-

Rete

Elettrica

Nazionale

439,230

4,632

Vistra

Corp

17,256

3,086

WEC

Energy

Group

Inc

72,520

8,127

Xcel

Energy

Inc

90,347

7,418

$

318,795

Energy

-

Alternate

Sources

-

.19

%

ERG

SpA

184,693

4,701

Engineering

&

Construction

-

.62

%

Aena

SME

SA

(h) 804,333

21,905

Aeroports

de

Paris

SA

137,203

20,122

Airports

of

Thailand

PCL

2,367,000

3,183

Athens

International

Airport

SA

254,750

3,001

Auckland

International

Airport

Ltd

3,376,857

15,508

Beijing

Capital

International

Airport

Co

Ltd

(g) 1,538,000

554

Cellnex

Telecom

SA

(g),(h)

306,135

9,194

China

Tower

Corp

Ltd

(h) 1,986,443

3,145

Corp

America

Airports

SA

(g) 29,112

738

Dalrymple

Bay

Infrastructure

Ltd

399,423

1,181

Enav

SpA

(h) 2,628,277

13,966

Flughafen

Zurich

AG

15,473

4,620

Fraport

AG

Frankfurt

Airport

Services

Worldwide

(g) 24,032

2,016

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Engineering

&

Construction

(continued)

Grupo

Aeroportuario

del

Centro

Norte

SAB

de

CV

ADR

25,220

$

2,713

Grupo

Aeroportuario

del

Pacifico

SAB

de

CV

ADR

31,001

7,362

Grupo

Aeroportuario

del

Sureste

SAB

de

CV

ADR

(b) 32,713

9,878

Japan

Airport

Terminal

Co

Ltd

79,900

2,316

Sacyr

SA

1,724,522

7,706

SATS

Ltd

710,400

1,867

Vinci

SA

43,841

6,222

$

137,197

Entertainment

-

.04

%

Crown

Finance

US

Inc

-

4A2

Shares

(g) 49,205

1,003

Food

-

.03

%

Ingredion

Inc

5,925

637

Forest

Products

&

Paper

-

.18

%

Acadian

Timber

Corp

(b) 34,752

Canfor

Corp

(g) 60,166

530

Empresas

CMPC

SA

327,399

Holmen

AB

29,080

1,065

International

Paper

Co

206,959

8,171

Mondi

PLC

235,981

2,715

Nine

Dragons

Paper

Holdings

Ltd

(g) 1,219,000

985

Oji

Holdings

Corp

640,200

3,371

Sappi

Ltd

184,185

Suzano

SA

ADR

(b) 234,400

2,098

Suzano

SA

176,600

1,580

Sylvamo

Corp

13,580

643

UPM-Kymmene

Oyj

239,640

6,543

$

28,790

Gas

-

.63

%

China

Gas

Holdings

Ltd

2,755,200

3,047

NiSource

Inc

76,247

3,365

Snam

SpA

662,092

4,405

Spire

Inc

50,837

4,507

$

15,324

Hand

&

Machine

Tools

-

.02

%

Makita

Corp

14,100

Healthcare

-

Products

-

.00

%

Carestream

Health

Inc

(g) 17,410

Healthcare

-

Services

-

.13

%

Chartwell

Retirement

Residences

212,100

3,063

Millennium

Health

LLC

(g),(i),(j)

20,580

Millennium

Health

LLC

(g),(i),(j)

19,318

—

$

3,065

Home

Builders

-

.18

%

DR

Horton

Inc

4,874

775

KB

Home

5,362

Meritage

Homes

Corp

4,009

PulteGroup

Inc

6,185

787

Sumitomo

Forestry

Co

Ltd

125,100

1,335

Toll

Brothers

Inc

5,362

750

$

4,285

Housewares

-

.01

%

Scotts

Miracle-Gro

Co/The

4,104

Internet

-

.00

%

Catalina

Marketing

Corp

(g) 4,112

Iron

&

Steel

-

.76

%

ArcelorMittal

SA

21,586

936

ArcelorMittal

SA

143,456

6,186

Fortescue

Ltd

84,166

1,183

Nippon

Steel

Corp

272,000

1,098

Novolipetsk

Steel

PJSC

(g) 1,124,750

—

Nucor

Corp

26,352

4,202

POSCO

Holdings

Inc

3,812

804

Reliance

Inc

2,663

744

Severstal

PAO

(g) 149,085

—

Steel

Dynamics

Inc

7,005

1,176

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Iron

&

Steel

(continued)

Vale

SA

ADR

181,520

$

2,289

$

18,618

Machinery

-

Construction

&

Mining

-

.13

%

Caterpillar

Inc

5,521

3,179

Machinery

-

Diversified

-

.14

%

ANDRITZ

AG

7,172

519

Deere

&

Co

4,506

2,093

Kadant

Inc

799

Valmet

Oyj

16,878

552

$

3,386

Mining

-

.32

%

Agnico

Eagle

Mines

Ltd

25,504

4,449

Agnico

Eagle

Mines

Ltd

9,652

1,684

Alamos

Gold

Inc

83,475

3,130

Alcoa

Corp

113,201

4,725

Anglo

American

PLC

158,740

6,000

Anglogold

Ashanti

Plc

21,464

1,839

Antofagasta

PLC

17,467

639

Barrick

Mining

Corp

86,418

3,613

BHP

Group

Ltd

256,955

7,031

Cameco

Corp

15,478

1,373

Cameco

Corp

15,511

1,373

Capstone

Copper

Corp

(g) 291,768

2,591

China

Hongqiao

Group

Ltd

134,000

534

First

Quantum

Minerals

Ltd

(g) 34,309

782

Franco-Nevada

Corp

9,729

2,034

Freeport-McMoRan

Inc

234,665

10,086

Glencore

PLC

(g) 488,224

2,334

Gold

Fields

Ltd

ADR

45,308

1,943

Hudbay

Minerals

Inc

96,406

1,635

Impala

Platinum

Holdings

Ltd

ADR

160,959

2,012

Ivanhoe

Mines

Ltd

(g) 180,638

1,890

Kinross

Gold

Corp

61,495

1,733

Newmont

Corp

138,186

12,537

Norsk

Hydro

ASA

298,690

2,141

Northern

Star

Resources

Ltd

72,392

1,302

Pan

American

Silver

Corp

95,260

4,350

Polyus

PJSC

(g) 124,590

—

Rio

Tinto

Ltd

18,792

1,630

Rio

Tinto

PLC

82,529

5,926

Royal

Gold

Inc

22,331

4,552

Southern

Copper

Corp

4,147

559

Teck

Resources

Ltd

22,814

971

Teck

Resources

Ltd

59,083

2,534

Valterra

Platinum

Ltd

27,324

1,903

Wheaton

Precious

Metals

Corp

22,992

2,525

Zijin

Mining

Group

Co

Ltd

302,000

1,201

$

105,561

Oil

&

Gas

-

.80

%

Antero

Resources

Corp

(g) 78,444

2,858

BP

PLC

1,696,123

10,186

Canadian

Natural

Resources

Ltd

208,115

7,043

Cenovus

Energy

Inc

50,363

898

Chevron

Corp

29,746

4,496

ConocoPhillips

73,974

6,561

Coterra

Energy

Inc

11,794

Crescent

Energy

Co

383,052

3,612

Devon

Energy

Corp

9,812

Diamondback

Energy

Inc

45,520

6,946

Ecopetrol

SA

ADR

(b) 8,795

Empresas

Copec

SA

82,429

587

Eni

SpA

74,197

1,387

EOG

Resources

Inc

8,439

910

EQT

Corp

24,550

1,494

Equinor

ASA

30,143

693

Expand

Energy

Corp

45,899

5,596

Exxon

Mobil

Corp

98,363

11,402

Imperial

Oil

Ltd

(b) 5,585

558

Kunlun

Energy

Co

Ltd

222,000

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Oil

&

Gas

(continued)

Marathon

Petroleum

Corp

33,934

$

6,575

Occidental

Petroleum

Corp

11,107

Permian

Resources

Corp

256,526

3,717

Petroleo

Brasileiro

SA

-

Petrobras

ADR

66,469

834

Phillips

48,494

6,642

Reliance

Industries

Ltd

(h) 60,434

4,270

Repsol

SA

266,015

4,929

Shell

PLC

209,361

7,694

Suncor

Energy

Inc

43,386

1,951

Suncor

Energy

Inc

126,197

5,651

TotalEnergies

SE

74,980

4,933

Valero

Energy

Corp

13,184

2,330

Woodside

Energy

Group

Ltd

67,834

1,109

$

117,307

Oil

&

Gas

Services

-

.08

%

Baker

Hughes

Co

15,239

765

Halliburton

Co

13,178

SLB

Ltd

23,059

836

$

1,946

Packaging

&

Containers

-

.98

%

Amcor

PLC

212,828

1,813

Billerud

Aktiebolag

82,577

817

Graphic

Packaging

Holding

Co

69,282

1,121

Klabin

SA

223,090

740

Packaging

Corp

of

America

39,525

8,066

Sealed

Air

Corp

13,580

583

SIG

Group

AG

145,425

1,764

Smurfit

WestRock

PLC

89,151

3,182

Sonoco

Products

Co

21,121

891

Stora

Enso

Oyj

413,833

4,870

$

23,847

Pipelines

-

.41

%

Antero

Midstream

Corp

26,050

APA

Group

1,239,322

7,518

Cheniere

Energy

Inc

62,072

12,940

DT

Midstream

Inc

7,996

971

Enbridge

Inc

685,252

33,310

Gaztransport

Et

Technigaz

SA

3,080

616

Gibson

Energy

Inc

331,204

6,022

Golar

LNG

Ltd

9,498

Keyera

Corp

18,168

587

Kinder

Morgan

Inc

389,447

10,640

Koninklijke

Vopak

NV

129,877

5,882

ONEOK

Inc

205,958

14,998

Pembina

Pipeline

Corp

44,423

1,722

South

Bow

Corp

267,367

7,353

Targa

Resources

Corp

17,945

3,146

TC

Energy

Corp

242,772

13,116

Williams

Cos

Inc/The

206,642

12,591

$

132,232

Real

Estate

-

.47

%

CBRE

Group

Inc

(g) 24,298

3,932

City

Developments

Ltd

519,700

2,903

CoStar

Group

Inc

(g) 45,885

3,157

CTP

NV

(h) 55,900

1,191

Fastighets

AB

Balder

(g) 492,800

3,543

Mitsui

Fudosan

Co

Ltd

2,221,900

26,097

Qualitas

Ltd

(b) 1,515,269

3,724

Sky

Harbour

Group

Corp

(g) 19,772

Sun

Hung

Kai

Properties

Ltd

728,100

9,247

Swire

Properties

Ltd

1,155,500

3,176

TAG

Immobilien

AG

185,400

3,162

$

60,315

REITs

-

.49

%

Agree

Realty

Corp

145,742

10,963

Alexandria

Real

Estate

Equities

Inc

47,140

2,530

American

Healthcare

REIT

Inc

478,997

24,323

American

Homes

Rent

406,975

13,072

American

Tower

Corp

46,100

8,357

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

REITs

(continued)

AvalonBay

Communities

Inc

99,293

$

18,065

Boardwalk

Real

Estate

Investment

Trust

52,200

2,399

BXP

Inc

53,723

3,887

Camden

Property

Trust

36,376

3,868

CapitaLand

Integrated

Commercial

Trust

5,372,015

9,757

COPT

Defense

Properties

175,069

5,380

Cousins

Properties

Inc

212,238

5,472

Crown

Castle

Inc

108,799

9,931

Digital

Realty

Trust

Inc

89,885

14,392

Equinix

Inc

37,561

28,296

Equity

LifeStyle

Properties

Inc

75,400

4,740

Equity

Residential

59,996

3,705

Essex

Property

Trust

Inc

42,766

11,274

Extra

Space

Storage

Inc

128,952

17,173

Federal

Realty

Investment

Trust

39,507

3,901

Gaming

and

Leisure

Properties

Inc

124,499

5,419

Goodman

Group

846,968

16,484

Healthpeak

Properties

Inc

220,794

4,032

Host

Hotels

&

Resorts

Inc

225,098

3,968

InvenTrust

Properties

Corp

203,983

5,822

Invitation

Homes

Inc

131,934

3,721

Iron

Mountain

Inc

40,631

3,508

Japan

Hotel

REIT

Investment

Corp

5,295

2,926

Keppel

DC

REIT

3,144,228

5,611

Kimco

Realty

Corp

177,188

3,661

Klepierre

SA

394,392

15,353

Link

REIT

1,161,114

5,515

Merlin

Properties

Socimi

SA

301,600

4,455

Mid-America

Apartment

Communities

Inc

27,932

3,796

Mitsui

Fudosan

Accommodations

Fund

Inc

5,603

4,768

Nippon

Building

Fund

Inc

6,353

6,074

Nippon

Prologis

REIT

Inc

5,501

3,315

PotlatchDeltic

Corp

60,782

2,446

Prologis

Inc

337,540

43,384

Prologis

Property

Mexico

SA

de

CV

627,221

2,685

Public

Storage

13,728

3,769

Rayonier

Inc

118,106

2,623

Realty

Income

Corp

66,668

3,841

Regency

Centers

Corp

143,740

10,228

Ryman

Hospitality

Properties

Inc

106,900

10,201

Sabra

Health

Care

REIT

Inc

276,645

5,397

Safestore

Holdings

PLC

409,145

4,012

SBA

Communications

Corp

20,475

3,978

Segro

PLC

597,050

5,641

Sekisui

House

Reit

Inc

6,000

3,058

Simon

Property

Group

Inc

64,862

12,085

Stockland

1,699,634

6,702

UDR

Inc

103,674

3,776

Unibail-Rodamco-Westfield

(g) 77,989

8,284

UNITE

Group

PLC/The

772,188

5,394

Ventas

Inc

326,764

26,347

VICI

Properties

Inc

632,234

18,221

Vornado

Realty

Trust

160,916

5,925

Welltower

Inc

259,895

54,115

Weyerhaeuser

Co

332,315

7,380

$

549,405

Retail

-

.04

%

Gymboree

Corp/The

(g),(i)

17,842

—

Gymboree

Holding

Corp

(g),(i)

48,577

—

Home

Depot

Inc/The

1,179

Lowe's

Cos

Inc

2,561

621

$

1,042

Semiconductors

-

.00

%

Bright

Bidco

-

1145

Shares

(g) 11,047

Bright

Bidco

-

4A2

Shares

(g) 15,092

$

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Software

-

.00

%

Bloom

Parent

Inc

(g),(i)

$

Riverbed

Technology

Inc

(g),(i)

15,335

—

$

Storage

&

Warehousing

-

.02

%

Westshore

Terminals

Investment

Corp

25,469

Telecommunications

-

.20

%

Altice

France

SA

(g) 4,574

MLN

US

Holdco

LLC

(g),(i)

1,264

—

NEXTDC

Ltd

(g) 491,588

4,380

Windstream

(g),(k)

26,873

537

$

5,000

Transportation

-

.86

%

American

Commercial

Lines

Inc

(g) 573

American

Commercial

Lines

Inc

-

Warrants

(g) 603

Canadian

National

Railway

Co

81,085

7,765

Getlink

SE

259,770

4,699

Qube

Holdings

Ltd

1,436,193

4,573

Union

Pacific

Corp

16,717

3,876

$

20,959

Water

-

.68

%

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

SABESP

ADR

25,375

669

Essential

Utilities

Inc

226,916

8,984

Guangdong

Investment

Ltd

166,000

Pennon

Group

PLC

1,560,917

11,400

Severn

Trent

PLC

238,109

8,881

United

Utilities

Group

PLC

670,613

10,982

$

41,076

TOTAL

COMMON

STOCKS

$

1,691,934

PREFERRED

STOCKS

-

.23

%

Shares

Held

Value

(000's)

Electric

-

.22

%

Cia

Paranaense

de

Energia

-

Copel

0.44%

2,021,534

$

5,420

Transportation

-

.01

%

American

Commercial

Lines

Inc

Preferred

A

-

Anti-

Dilution

Warrants

0.00%,

04/30/2045

(g) 6,729

American

Commercial

Lines

Inc

Preferred

B

2.50%

2,428

American

Commercial

Lines

Inc

Preferred

B

-

Anti-

Dilution

Warrants

0.00%,

04/30/2045

(g) 17,060

American

Commercial

Lines

Inc

Preferred

B

-

Warrants

0.00%,

04/30/2045

(g) 1,706

$

TOTAL

PREFERRED

STOCKS

$

5,667

BONDS

-

.50

%

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

-

.00

%

Enterprise

Fleet

Financing

2025-4

LLC

4.28%,

06/20/2032

(h) $

$

Commercial

Mortgage

Backed

Securities

-

.14

%

BAMLL

Trust

2024-BHP

6.31%,

08/15/2039

(h) 120

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.35%

BFLD

2024-VICT

Mortgage

Trust

5.85%,

07/15/2041

(h) 120

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.89%

BFLD

Commercial

Mortgage

Trust

2025-660F

5.46%,

11/15/2042

(h) 140

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

BFLD

Trust

2025-EWEST

5.51%,

06/15/2042

(h) 206

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.55%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

(continued)

BX

Commercial

Mortgage

Trust

2024-AIRC

5.65%,

08/15/2041

(h) $

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.69%

BX

Commercial

Mortgage

Trust

2024-MDHS

5.60%,

05/15/2041

(h) 242

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.64%

BX

Commercial

Mortgage

Trust

2024-XL4

7.10%,

02/15/2039

(h) 232

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.14%

BX

Commercial

Mortgage

Trust

2025-JDI

5.40%,

11/15/2042

(h) 140

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

BX

Trust

2025-VOLT

0.00%,

12/15/2044

(g),(h),(l)

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.70%

CIP

Commercial

Mortgage

Trust

2025-SBAY

5.36%,

10/15/2037

(h) 135

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.40%

COMM

2024-WCL1

MORTGAGE

TRUST

5.80%,

06/15/2041

(h) 180

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.84%

CONE

Trust

2024-DFW1

5.60%,

08/15/2041

(h) 70

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.64%

DBC

2025-DBC

Mortgage

Trust

5.31%,

11/15/2042

(h) 140

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.35%

DBSG

2024-ALTA

Mortgage

Trust

6.14%,

06/10/2037

(h),(m)

GWT

2024-WLF2

5.65%,

05/15/2041

(h) 320

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.69%

HONO

2021-LULU

Mortgage

Trust

5.22%,

10/15/2036

(h) 100

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.26%

LBA

Trust

2024-BOLT

5.55%,

06/15/2039

(h) 270

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.59%

NCMF

Trust

2025-MFS

5.05%,

06/10/2033

(h),(m)

PENN

Commercial

Mortgage

Trust

2025-P11

5.52%,

08/10/2042

(h),(m)

SHRN

Trust

2025-MF18

5.16%,

10/15/2040

(h) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.20%

UNIV

Trust

2025-APTS

5.60%,

11/15/2030

(h) 180

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.65%

$

3,530

Electric

-

.00

%

Pacific

Gas

and

Electric

Co

3.15%,

01/01/2026

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

-

.02

%

Team

Health

Holdings

Inc

9.00%,

PIK

4.50%;

06/30/2028

(h),(m),(n)

$

$

Mortgage

Backed

Securities

-

.17

%

Angel

Oak

Mortgage

Trust

2025-2

5.64%,

02/25/2070

(h),(m)

Barclays

Mortgage

Loan

Trust

2025-NQM3

5.64%,

05/25/2065

(h),(m)

BRAVO

Residential

Funding

Trust

2023-NQM3

4.85%,

09/25/2062

(h),(m)

Ellington

Financial

Mortgage

Trust

2021-3

1.24%,

09/25/2066

(h),(m)

Fannie

Mae

REMICS

5.52%,

02/25/2055

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.45%

5.67%,

05/25/2055

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.60%

Freddie

Mac

REMICS

5.47%,

11/25/2054

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.40%

5.47%,

02/25/2055

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.40%

5.52%,

12/25/2054

604

608

1.00 x

Day

Average

Secured

Overnight

Financing

Rate

+

1.45%

HOMES

2025-AFC2

Trust

5.47%,

06/25/2060

(h),(m)

JP

Morgan

Mortgage

Trust

2023-DSC1

4.62%,

07/25/2063

(h),(m)

PRKCM

2022-AFC2

Trust

5.33%,

08/25/2057

(h),(m)

PRPM

2025-NQM2

Trust

5.69%,

04/25/2070

(h),(m)

PRPM

2025-NQM3

Trust

5.61%,

05/25/2070

(h),(m)

Santander

Mortgage

Asset

Receivable

Trust

2025-NQM2

5.73%,

02/25/2065

(h),(m)

SG

Residential

Mortgage

Trust

2022-2

5.35%,

08/25/2062

(h),(m)

$

4,030

Other

Asset

Backed

Securities

-

.04

%

AMSR

2022-SFR3

Trust

4.00%,

10/17/2039

(h) 251

Foundation

Finance

Trust

2025-3

4.56%,

08/15/2052

(h) 100

New

Residential

Mortgage

Loan

Trust

2022-SFR2

4.00%,

09/04/2039

(h) 260

Progress

Residential

2022-SFR6

Trust

6.04%,

07/20/2039

(h) 335

$

940

Sovereign

-

.11

%

Brazil

Notas

do

Tesouro

Nacional

Serie

F

9.76%,

01/01/2029

BRL

1,200

9.76%,

01/01/2035

4,490

702

Israel

Government

International

Bond

5.75%,

03/12/2054

$

Japan

Government

Thirty

Year

Bond

2.30%,

12/20/2054

JPY

49,050

2.40%,

03/20/2055

47,150

Mexico

Government

International

Bond

6.35%,

02/09/2035

$

6.88%,

05/13/2037

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Peruvian

Government

International

Bond

6.85%,

08/12/2035

PEN

$

7.60%,

08/12/2039

United

Kingdom

Gilt

4.25%,

12/07/2055

GBP

$

2,650

Telecommunications

-

.02

%

CommScope

LLC

9.50%,

12/15/2031

(b),(h)

$

553

561

TOTAL

BONDS

$

12,272

SENIOR

FLOATING

RATE

INTERESTS

-

.78

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

.04

%

Advantage

Sales

&

Marketing

Inc

;

Term

Loan

B2

8.45%,

10/28/2027

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Clear

Channel

Outdoor

Holdings

Inc

;

Term

Loan

B

8.08%,

08/23/2028

(o) 508

509

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

CMG

Media

Corp

;

Term

Loan

B2

7.60%,

06/18/2029

(o) 77

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Planet

US

Buyer

LLC

;

Term

Loan

B

7.20%,

02/07/2031

(o) 310

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

$

1,020

Aerospace

&

Defense

-

.09

%

Bleriot

US

Bidco

Inc

;

Term

Loan

B

6.50%,

10/31/2030

(o) 191

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Goat

Holdco

LLC

;

Term

Loan

B

6.71%,

12/10/2031

(o) 343

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Kaman

Corp

;

Term

Loan

B

6.66%,

01/30/2032

(o) 433

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Kaman

Corp

;

Delayed

Draw

Term

Loan

B-DD

6.42%,

02/26/2032

(o) 4

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

TransDigm

Inc

;

Term

Loan

J

6.50%,

02/28/2031

(o) 642

643

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

TransDigm

Inc

;

Term

Loan

L

6.50%,

01/19/2032

(o) 236

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

TransDigm

Inc

;

Term

Loan

M

6.50%,

08/19/2032

(o) 260

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

$

2,113

Airlines

-

.03

%

AAdvantage

Loyalty

IP

Ltd

;

Term

Loan

B

6.13%,

04/20/2028

(o) 91

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Airlines

(continued)

Air

Canada

;

Term

Loan

B

5.96%,

03/21/2031

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

United

Airlines

Inc

;

Term

Loan

B

5.95%,

02/22/2031

(o) 140

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

WestJet

Loyalty

LP

;

Term

Loan

B

7.25%,

02/14/2031

(o) 119

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

$

618

Apparel

-

.02

%

ABG

Intermediate

Holdings

LLC

;

Term

Loan

B1

6.21%,

12/21/2028

(o) 26

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Beach

Acquisition

Bidco

LLC

;

Term

Loan

B1

7.31%,

06/25/2032

(o) 140

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Varsity

Brands

Inc

;

Term

Loan

B

7.03%,

08/26/2031

(o) 239

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

WH

Borrower

LLC

;

Term

Loan

B

8.39%,

02/20/2032

(o) 75

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

$

Automobile

Manufacturers

-

.01

%

Allison

Transmission

Inc

;

Term

Loan

B

0.00%,

11/05/2032

(o),(p)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Automobile

Parts

&

Equipment

-

.03

%

Clarios

Global

LP

;

Term

Loan

B

6.46%,

05/04/2030

(o) 423

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

6.71%,

01/28/2032

(o) 209

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Dexko

Global

Inc

;

Term

Loan

B

7.83%,

10/04/2028

(o) 216

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

$

845

Beverages

-

.03

%

BrewCo

Borrower

LLC

11.03%,

09/30/2030

(o) 44

CME

Term

Secured

Overnight

Financing

Rate

Month

+

7.00%

11.10%,

09/30/2030

(o) 10

CME

Term

Secured

Overnight

Financing

Rate

Month

+

7.00%

Naked

Juice

LLC

;

Term

Loan

9.50%,

01/24/2029

(o) 109

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.50%

Pegasus

Bidco

BV

;

Term

Loan

B

6.60%,

07/12/2029

(o) 177

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Beverages

(continued)

Primo

Brands

Corp

;

Term

Loan

B

6.25%,

03/31/2028

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

606

Biotechnology

-

.00

%

Genmab

AS

0.00%,

11/19/2032

(o),(p)

Building

Materials

-

.07

%

ACProducts

Holdings

Inc

;

Term

Loan

B

8.51%,

05/17/2028

(o) 488

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Chariot

Buyer

LLC

;

Term

Loan

B

6.96%,

07/22/2032

(o) 481

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Cornerstone

Building

Brands

Inc

;

Term

Loan

B

7.31%,

04/12/2028

(o) 443

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Cornerstone

Building

Brands

Inc

;

Term

Loan

9.58%,

08/01/2028

(o) 33

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.63%

CP

Atlas

Buyer

Inc

;

Term

Loan

B

9.21%,

07/08/2030

(o) 203

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

MI

Windows

And

Doors

LLC

;

Term

Loan

B3

6.71%,

03/21/2031

(o) 44

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Quikrete

Holdings

Inc

;

Term

Loan

B3

6.21%,

02/10/2032

(o) 103

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Quikrete

Holdings

Inc

;

Term

Loan

B1

6.22%,

04/14/2031

(o) 88

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

1,698

Chemicals

-

.05

%

Ecovyst

Catalyst

Technologies

LLC

;

Term

Loan

B

5.84%,

06/12/2031

(o) 202

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Fortis

Inc

;

Term

Loan

B

7.50%,

03/29/2032

(o) 62

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Nouryon

Finance

BV

;

Term

Loan

B

7.04%,

04/03/2028

(o) 531

529

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Qnity

Electronics

Inc

;

Term

Loan

B

5.70%,

11/01/2032

(o) 246

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Solstice

Advanced

Materials

Inc

;

Term

Loan

B

5.15%,

09/17/2032

(o) 110

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

USALCO

LLC

;

Term

Loan

B

7.46%,

09/30/2031

(o) 69

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

1,218

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Services

-

.18

%

Allied

Universal

Holdco

LLC

;

Term

Loan

B

7.31%,

08/06/2032

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Anticimex

Global

AB

;

Term

Loan

B1

7.76%,

11/16/2028

(o) 451

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.40%

Belron

Finance

2019

LLC

;

Term

Loan

B

6.12%,

10/16/2031

(o) 134

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Boost

Newco

Borrower

LLC

;

Term

Loan

B2

6.00%,

01/31/2031

(o) 454

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Camelot

US

Acquisition

LLC

;

Term

Loan

B

6.71%,

01/31/2031

(o) 8

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Catawba

Nation

Gaming

Authority

;

Term

Loan

B

8.71%,

03/29/2032

(o) 105

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.75%

Creative

Artists

Agency

LLC

;

Term

Loan

B

6.47%,

10/01/2031

(o) 151

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Ensemble

RCM

LLC

;

Term

Loan

B

6.84%,

08/01/2029

(o) 139

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Garda

World

Security

Corp

;

Term

Loan

B

6.95%,

02/01/2029

(o) 452

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Jupiter

Buyer

Inc

;

Term

Loan

B

8.25%,

10/10/2031

(o) 200

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Medical

Solutions

Holdings

Inc

;

Term

Loan

B

7.44%,

10/06/2028

(o) 245

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Mister

Car

Wash

Holdings

Inc

;

Term

Loan

B

6.50%,

03/27/2031

(o) 175

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

OMNIA

Partners

LLC

;

Term

Loan

B

6.36%,

07/25/2030

(o) 196

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Prime

Security

Services

Borrower

LLC

;

Term

Loan

B1

6.13%,

10/13/2030

(o) 277

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Signal

Parent

Inc

;

Term

Loan

B

7.44%,

04/03/2028

(o) 39

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Spin

Holdco

Inc

;

Term

Loan

B

8.39%,

03/03/2028

(o) 459

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Services

(continued)

Wand

NewCo

Inc

;

Term

Loan

B2

6.42%,

01/30/2031

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

WEX

Inc

;

Term

Loan

B2

5.71%,

03/31/2028

(o) 61

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

XPLOR

T1

LLC

;

Term

Loan

B

7.50%,

06/24/2031

(o) 138

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

XPLOR

T1

LLC

0.00%,

06/24/2032

(o),(p)

$

4,266

Computers

-

.11

%

Amentum

Holdings

Inc

;

Term

Loan

B

6.21%,

07/29/2031

(o) 82

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Fortress

Intermediate

Inc

;

Term

Loan

B

7.01%,

06/27/2031

(o) 202

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

McAfee

Corp

;

Term

Loan

B1

6.96%,

03/01/2029

(o) 382

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

NCR

Atleos

Corp

;

Term

Loan

B

7.03%,

04/16/2029

(o) 76

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Peraton

Corp

;

Term

Loan

B

7.69%,

02/01/2028

(o) 302

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Perforce

Software

Inc

;

Term

Loan

B

8.72%,

03/21/2031

(o) 114

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.75%

Ping

Identity

Corp

6.59%,

10/29/2032

(o) 43

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Synechron

Inc

;

Term

Loan

B

7.72%,

10/03/2031

(o) 162

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Tempo

Acquisition

LLC

;

Term

Loan

B1

5.71%,

08/31/2028

(o) 88

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

VeriFone

Systems

Inc

;

Term

Loan

9.35%,

08/18/2028

(o) 299

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.50%

Vision

Solutions

Inc

;

Term

Loan

B

8.10%,

04/23/2028

(o) 248

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

X

Corp

;

Term

Loan

B1

10.45%,

10/26/2029

(o) 671

653

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.50%

X

Corp

;

Term

Loan

B3

9.50%,

10/26/2029

(o) 188

$

2,714

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Consumer

Products

-

.00

%

VC

GB

Holdings

I

Corp

;

Term

Loan

B

7.76%,

06/30/2028

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Cosmetics

&

Personal

Care

-

.02

%

Conair

Holdings

LLC

;

Term

Loan

B

7.83%,

05/17/2028

(o) 56

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Opal

US

LLC

;

Term

Loan

B4

6.90%,

04/28/2032

(o) 330

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

$

Distribution

&

Wholesale

-

.02

%

Gates

Corp/DE

;

Term

Loan

B5

5.71%,

06/04/2031

(o) 134

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

OPENLANE

Inc

;

Term

Loan

B

6.37%,

10/01/2032

(o) 123

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Resideo

Funding

Inc

;

Term

Loan

B

6.04%,

08/13/2032

(o) 115

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

$

Diversified

Financial

Services

-

.01

%

Dechra

Finance

US

LLC

;

Term

Loan

B

7.44%,

01/27/2032

(o) 94

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Ditech

Holding

Corp

;

Term

Loan

B-Exit

0.00%,

06/30/2022

(g),(i),(o)

792

—

Month

USD

LIBOR

+

6.00%

Kestra

Advisor

Services

Holdings

A

Inc

;

Term

Loan

B

6.96%,

03/22/2031

(o) 179

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Orion

US

Finco

Inc

;

Term

Loan

B

7.43%,

10/08/2032

(o) 46

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

Electric

-

.08

%

Cornerstone

Generation

LLC

;

Term

Loan

B

7.09%,

08/11/2032

(o) 269

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Invenergy

Thermal

Operating

I

LLC

6.73%,

05/06/2032

(o) 5

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

7.73%,

05/06/2032

(o) 86

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

NRG

Energy

Inc

;

Term

Loan

B

5.59%,

04/16/2031

(o) 95

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Talen

Energy

Supply

LLC

;

Term

Loan

B

6.35%,

05/17/2030

(o) $

849

$

851

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

6.35%,

12/11/2031

(o) 663

664

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

$

1,972

Electronics

-

.01

%

Ingram

Micro

Inc

;

Term

Loan

B2

6.25%,

09/19/2031

(o) 115

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Pinnacle

Buyer

LLC

;

Term

Loan

B

6.49%,

09/10/2032

(o) 71

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Spectris

PLC

0.00%,

09/24/2032

(o),(p)

$

Engineering

&

Construction

-

.05

%

Apple

Bidco

LLC

;

Term

Loan

B

6.46%,

09/22/2031

(o) 389

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Brand

Industrial

Services

Inc

;

Term

Loan

B

8.35%,

08/01/2030

(o) 118

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

Brown

Group

Holding

LLC

;

Term

Loan

B1

6.47%,

07/01/2031

(o) 266

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Brown

Group

Holding

LLC

;

Term

Loan

B2

6.73%,

07/01/2031

(o) 227

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Centuri

Group

Inc

;

Term

Loan

B

6.23%,

07/09/2032

(o) 110

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

DG

Investment

Intermediate

Holdings

Inc

;

Term

Loan

B

7.71%,

07/09/2032

(o) 32

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Green

Infrastructure

Partners

Inc

6.76%,

09/17/2032

(o) 82

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

$

1,215

Entertainment

-

.15

%

Allwyn

International

A.S.

5.91%,

06/11/2031

(o) 80

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

AMC

Entertainment

Holdings

Inc

;

Term

Loan

10.96%,

01/04/2029

(o) 875

877

CME

Term

Secured

Overnight

Financing

Rate

Month

+

7.00%

Caesars

Entertainment

Inc

;

Term

Loan

B

6.21%,

02/06/2030

(o) 318

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Caesars

Entertainment

Inc

;

Term

Loan

B1

6.21%,

02/06/2031

(o) 171

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Entertainment

(continued)

Cinemark

USA

Inc

;

Term

Loan

B

6.23%,

05/24/2030

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Crown

Finance

US

Inc

;

Term

Loan

B

8.48%,

12/02/2031

(o) 457

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

Entain

Holdings

Gibraltar

Ltd

6.25%,

10/31/2029

(o) 548

547

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Flutter

Financing

BV

;

Term

Loan

B

5.75%,

11/30/2030

(o) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

6.00%,

06/04/2032

(o) 169

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Herschend

Entertainment

Co

LLC

;

Term

Loan

7.21%,

05/27/2032

(o) 95

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Light

&

Wonder

International

Inc

;

Term

Loan

B2

6.21%,

04/14/2029

(o) 93

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Motion

Finco

Sarl

;

Term

Loan

B3

7.79%,

11/12/2029

(o) 108

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Scientific

Games

Holdings

LP

;

Term

Loan

B

6.93%,

04/04/2029

(o) 311

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

SeaWorld

Parks

&

Entertainment

Inc

;

Term

Loan

B3

5.96%,

12/04/2031

(o) 82

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

TKO

Worldwide

Holdings

LLC

;

Term

Loan

B5

5.87%,

11/21/2031

(o) 40

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

$

3,737

Environmental

Control

-

.04

%

GFL

ES

US

LLC

;

Term

Loan

B

6.67%,

02/04/2032

(o) 170

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Madison

IAQ

LLC

;

Term

Loan

B

6.70%,

06/21/2028

(o) 112

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Reworld

Holding

Corp

;

Term

Loan

B1

6.21%,

11/30/2028

(o) 145

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Reworld

Holding

Corp

;

Term

Loan

C1

6.21%,

11/30/2028

(o) 11

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Reworld

Holding

Corp

;

Term

Loan

B

6.20%,

01/31/2031

(o) 50

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Environmental

Control

(continued)

Win

Waste

Innovations

Holdings

Inc

;

Term

Loan

6.83%,

03/24/2028

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

$

982

Food

-

.03

%

Aspire

Bakeries

Hldgs

LLC

7.47%,

12/23/2030

(o) 109

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

B&G

Foods

Inc

;

Term

Loan

B5

7.46%,

10/10/2029

(o) 29

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

CHG

PPC

Parent

LLC

;

Term

Loan

B

7.08%,

12/08/2028

(o) 174

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Fiesta

Purchaser

Inc

;

Term

Loan

B

6.72%,

02/12/2031

(o) 180

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Froneri

US

Inc

;

Term

Loan

B6

6.37%,

07/16/2032

(o) 264

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Savor

Acquisition

Inc

;

Term

Loan

B

6.84%,

02/19/2032

(o) 73

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

$

829

Hand

&

Machine

Tools

-

.00

%

Madison

Safety

&

Flow

LLC

;

Term

Loan

B

6.47%,

09/26/2031

(o) 111

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Healthcare

-

Products

-

.05

%

Bausch

+

Lomb

Corp

;

Term

Loan

B

8.21%,

01/15/2031

(o) 195

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Insulet

Corp

;

Term

Loan

B

5.96%,

08/01/2031

(o) 138

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Medline

Borrower

LP

;

Term

Loan

B

5.96%,

10/23/2028

(o) 714

715

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Viant

Medical

Holdings

Inc

;

Term

Loan

7.96%,

10/17/2031

(o) 202

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Vyaire

Medical

Inc

0.00%,

10/10/2024

(g),(i),(o)

—

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.00%

0.00%,

04/16/2025

(g),(i),(o)

510

—

$

1,250

Healthcare

-

Services

-

.15

%

ADMI

Corp

;

Term

Loan

B1

9.71%,

12/23/2027

(o) 108

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.75%

Global

Medical

Response

Inc

;

Term

Loan

B

7.38%,

10/01/2032

(o) 205

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Healthcare

-

Services

(continued)

National

Mentor

Holdings

Inc

;

Term

Loan

B

7.82%,

03/02/2028

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

National

Mentor

Holdings

Inc

;

Term

Loan

C

7.86%,

03/02/2028

(o) 10

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Onex

TSG

Intermediate

Corp

7.59%,

08/06/2032

(o) 113

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

Pacific

Dental

Services

LLC

;

Term

Loan

B

6.46%,

03/15/2031

(o) 204

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Phoenix

Guarantor

Inc

;

Term

Loan

B5

6.46%,

02/21/2031

(o) 339

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Phoenix

Newco

Inc

;

Term

Loan

B

6.21%,

11/15/2028

(o) 626

629

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Radiology

Partners

Inc

;

Term

Loan

B

8.50%,

06/30/2032

(o) 249

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

Select

Medical

Corp

;

Term

Loan

B2

5.97%,

12/03/2031

(o) 61

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Sound

Inpatient

Physicians

Inc

;

PIK

Term

Loan

A

9.76%,

PIK

1.00%,

06/28/2028

(n),(o)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.50%

Sound

Inpatient

Physicians

Inc

;

PIK

Term

Loan

B

7.76%,

PIK

1.50%,

06/28/2028

(n),(o)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Star

Parent

Inc

;

Term

Loan

B

8.00%,

09/27/2030

(o) 96

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Surgery

Center

Holdings

Inc

;

Term

Loan

6.46%,

12/19/2030

(o) 700

701

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Team

Health

Holdings

Inc

;

Term

Loan

B

8.34%,

06/23/2028

(o) 473

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

US

Radiology

Specialists

Inc

;

Term

Loan

B

8.74%,

12/15/2027

(o) 25

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.75%

$

3,739

Holding

Companies

-

Diversified

-

.01

%

Rosen

International

Sarl

6.09%,

03/26/2031

(o) 262

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Home

Furnishings

-

.04

%

AI

Aqua

Merger

Sub

Inc

;

Term

Loan

B

6.91%,

07/30/2028

(o) 501

502

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Home

Furnishings

(continued)

Somnigroup

International

Inc

;

Term

Loan

B

6.22%,

10/24/2031

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Weber-Stephen

Products

LLC

7.73%,

09/17/2032

(o) 239

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

$

885

Insurance

-

.19

%

Acrisure

LLC

;

Term

Loan

B6

6.96%,

11/06/2030

(o) 325

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Alera

Group

Inc

;

Term

Loan

B

7.22%,

05/31/2032

(o) 210

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Alliant

Holdings

Intermediate

LLC

;

Term

Loan

B

6.46%,

09/19/2031

(o) 776

776

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

AmWINS

Group

Inc

;

Term

Loan

B

6.25%,

01/30/2032

(o) 231

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Asurion

LLC

;

Term

Loan

B9

7.33%,

07/31/2027

(o) 222

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Asurion

LLC

;

Term

Loan

B3

9.33%,

01/31/2028

(o) 283

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Asurion

LLC

;

Term

Loan

B4

9.33%,

01/20/2029

(o) 109

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Asurion

LLC

;

Term

Loan

B11

8.32%,

08/19/2028

(o) 20

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Asurion

LLC

;

Term

Loan

B13

8.21%,

09/19/2030

(o) 284

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Broadstreet

Partners

Group

LLC

;

Term

Loan

B4

6.71%,

06/14/2031

(o) 734

736

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

CRC

Insurance

Group

LLC

;

Term

Loan

B

6.75%,

05/06/2031

(o) 263

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

HUB

International

Ltd

;

Term

Loan

B

6.12%,

06/20/2030

(o) 485

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Sedgwick

Claims

Management

Services

Inc

;

Term

Loan

B

6.46%,

07/31/2031

(o) 438

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Trucordia

Insurance

Holdings

LLC

;

Term

Loan

7.21%,

06/17/2032

(o) 130

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Insurance

(continued)

USI

Inc/NY

;

Term

Loan

C

6.25%,

09/27/2030

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

USI

Inc/NY

;

Term

Loan

D

6.25%,

11/21/2029

(o) 167

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

4,734

Internet

-

.03

%

CNT

Holdings

I

Corp

;

Term

Loan

B

6.09%,

11/08/2032

(o) 365

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Proofpoint

Inc

;

Term

Loan

B

6.96%,

08/31/2028

(o) 355

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

$

722

Investment

Companies

-

.01

%

Acuren

Delaware

Holdco

Inc

;

Term

Loan

6.71%,

07/30/2031

(o) 45

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Aragorn

Parent

Corp

;

Term

Loan

B

7.46%,

12/15/2028

(o) 201

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

Leisure

Products

&

Services

-

.04

%

Alterra

Mountain

Co

;

Term

Loan

B8

6.46%,

05/31/2030

(o) 409

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Alterra

Mountain

Co

;

Term

Loan

B6

6.46%,

08/17/2028

(o) 76

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

GBT

US

III

LLC

;

Term

Loan

B1

6.36%,

07/25/2031

(o) 111

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Hayward

Industries

Inc

;

Term

Loan

B

6.58%,

05/28/2028

(o) 355

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Topgolf

Callaway

Brands

Corp

;

Term

Loan

B

6.96%,

03/16/2030

(o) 106

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

$

1,060

Lodging

-

.01

%

Fertitta

Entertainment

LLC/NV

;

Term

Loan

B

7.21%,

01/13/2029

(o) 142

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Machinery

-

Diversified

-

.07

%

Chart

Industries

Inc

;

Term

Loan

B

6.48%,

03/15/2030

(o) 275

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Husky

Injection

Molding

Systems

Ltd

;

Term

Loan

B

7.75%,

02/01/2029

(o) 281

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Machinery

-

Diversified

(continued)

Oregon

Tool

Lux

LP

;

Term

Loan

8.14%,

10/15/2029

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

9.23%,

10/15/2029

(o) 43

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

TK

Elevator

US

Newco

Inc

;

Term

Loan

B

7.20%,

04/30/2030

(o) 781

786

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Victory

Buyer

LLC

;

Term

Loan

7.83%,

11/18/2028

(o) 293

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

$

1,757

Media

-

.09

%

Cengage

Learning

Inc

;

Term

Loan

B

7.62%,

03/22/2031

(o) 237

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Century

DE

Buyer

LLC

;

Term

Loan

6.84%,

10/30/2030

(o) 201

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

CSC

Holdings

LLC

;

Term

Loan

B5

8.38%,

04/15/2027

(o) 157

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

EW

Scripps

Co/The

;

Term

Loan

B2

9.82%,

06/30/2028

(o) 15

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.75%

EW

Scripps

Co/The

;

Term

Loan

B3

7.42%,

11/30/2029

(o) 32

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.35%

McGraw-Hill

Education

Inc

;

Term

Loan

B2

6.81%,

08/06/2031

(o) 105

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Numericable

US

LLC

8.11%,

04/30/2028

(o) 126

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.13%

9.05%,

10/30/2028

(o) 114

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.06%

9.36%,

05/14/2029

(o) 304

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.38%

10.86%,

05/31/2031

(o) 273

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.88%

Sinclair

Television

Group

Inc

;

Term

Loan

B6

7.40%,

12/31/2029

(o) 66

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.30%

Sunrise

Financing

Partnership

;

Term

Loan

AAA

6.69%,

02/13/2032

(o) 105

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Virgin

Media

Bristol

LLC

;

Term

Loan

Y

7.05%,

03/31/2031

(o) 169

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.18%

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Media

(continued)

WideOpenWest

Finance

LLC

;

Term

Loan

7.17%,

12/11/2028

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Ziggo

Financing

Partnership

;

Term

Loan

I

6.71%,

04/28/2028

(o) 186

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

$

2,310

Mining

-

.01

%

Arsenal

AIC

Parent

LLC

;

Term

Loan

B

6.72%,

08/18/2030

(o) 156

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Packaging

&

Containers

-

.07

%

Berlin

Packaging

LLC

;

Term

Loan

B7

7.24%,

06/09/2031

(o) 249

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Clydesdale

Acquisition

Holdings

Inc

;

Term

Loan

B

7.14%,

04/13/2029

(o) 255

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.18%

7.21%,

03/26/2032

(o) 424

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Klockner

Pentaplast

of

America

Inc

;

Term

Loan

B

0.00%,

02/12/2026

(g),(o)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.73%

Proampac

PG

Borrower

LLC

;

Term

Loan

B

7.89%,

09/15/2028

(o) 282

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

SupplyOne

Inc

;

Term

Loan

B

7.46%,

03/27/2031

(o) 171

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

TricorBraun

Holdings

Inc

;

Term

Loan

7.21%,

03/03/2031

(o) 76

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

$

1,611

Pharmaceuticals

-

.05

%

1261229

BC

Ltd

;

Term

Loan

B

10.17%,

09/25/2030

(o) 272

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.25%

Amneal

Pharmaceuticals

LLC

;

Term

Loan

B

7.46%,

08/01/2032

(o) 95

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Gainwell

Acquisition

Corp

;

Term

Loan

B

8.10%,

10/01/2027

(o) 281

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Jazz

Financing

Lux

Sarl

;

Term

Loan

B2

6.22%,

05/05/2028

(o) 359

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Organon

&

Co

;

Term

Loan

B

6.24%,

05/19/2031

(o) 321

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

1,311

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Pipelines

-

.06

%

BCP

Renaissance

Parent

LLC

;

Term

Loan

B6

6.50%,

10/31/2028

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Colossus

Acquireco

LLC

;

Term

Loan

B

5.87%,

06/11/2032

(o) 95

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

EPIC

Crude

Services

LP

;

Term

Loan

B

6.34%,

10/15/2031

(o) 172

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Freeport

LNG

Investments

LLLP

7.15%,

11/16/2026

(o) 415

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Freeport

LNG

Investments

LLLP

;

Term

Loan

B

7.12%,

12/21/2028

(o) 411

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

New

Fortress

Energy

Inc

;

Term

Loan

B

9.57%,

10/27/2028

(o) 195

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.50%

Oryx

Midstream

Services

Permian

Basin

LLC

;

Term

Loan

B

6.23%,

10/05/2028

(o) 139

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Traverse

Midstream

Partners

LLC

;

Term

Loan

B

6.34%,

02/16/2028

(o) 26

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

$

1,547

Real

Estate

-

.03

%

Cushman

&

Wakefield

US

Borrower

LLC

;

Term

Loan

B3

6.46%,

01/31/2030

(o) 269

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Forest

City

Enterprises

LLC

;

Term

Loan

B

7.58%,

12/09/2025

(o) 397

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

665

Retail

-

.09

%

1011778

BC

ULC

;

Term

Loan

B6

5.71%,

09/20/2030

(o) 348

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Academy

Ltd

;

Term

Loan

7.85%,

11/05/2027

(o) 51

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

EG

America

LLC

;

Term

Loan

B

7.70%,

02/07/2028

(o) 170

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

Gulfside

Supply

Inc

;

Term

Loan

B

7.00%,

06/17/2031

(o) 107

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

IRB

Holding

Corp

;

Term

Loan

B

6.46%,

12/15/2030

(o) 297

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Retail

(continued)

Johnstone

Supply

LLC

;

Term

Loan

B

6.45%,

06/09/2031

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Kodiak

BP

LLC

;

Term

Loan

B

7.75%,

12/04/2031

(o) 37

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

LBM

Acquisition

LLC

;

Term

Loan

B

7.81%,

06/06/2031

(o) 238

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

LS

Group

OpCo

Acquistion

LLC

;

Term

Loan

B1

6.67%,

04/23/2031

(o) 157

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Michaels

Cos

Inc/The

;

Term

Loan

8.51%,

04/15/2028

(o) 193

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Park

River

Holdings

Inc

;

Term

Loan

B

8.49%,

03/15/2031

(o) 45

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

Petco

Health

&

Wellness

Co

Inc

;

Term

Loan

B

7.51%,

03/03/2028

(o) 20

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

PetSmart

LLC

;

Term

Loan

B

7.96%,

08/18/2032

(o) 64

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

QXO

Building

Products

Inc

;

Term

Loan

B

6.01%,

04/30/2032

(o) 65

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Restoration

Hardware

Inc

;

Term

Loan

B

6.58%,

10/20/2028

(o) 163

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Serta

Simmons

Bedding

LLC

;

Term

Loan

Exit

11.61%,

06/29/2028

(o) 19

CME

Term

Secured

Overnight

Financing

Rate

Month

+

7.50%

White

Cap

Supply

Holdings

LLC

;

Term

Loan

B

7.21%,

10/19/2029

(o) 113

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

$

2,293

Software

-

.38

%

Avalara

Inc

;

Term

Loan

B

6.74%,

03/26/2032

(o) 204

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Avaya

LLC

;

PIK

Term

Loan

Exit

11.37%,

PIK

7.00%,

07/31/2028

(n),(o)

661

593

CME

Term

Secured

Overnight

Financing

Rate

Month

+

7.50%

Azalea

Topco

Inc

;

Term

Loan

B

6.96%,

04/30/2031

(o) 236

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

BCPE

Pequod

Buyer

Inc

;

Term

Loan

B

6.97%,

09/19/2031

(o) 159

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Boxer

Parent

Co

Inc

;

Term

Loan

B

7.20%,

07/30/2031

(o) $

881

$

877

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Cloud

Software

Group

Inc

;

Term

Loan

B2

7.28%,

03/21/2031

(o) 35

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Cotiviti

Inc

;

Term

Loan

6.73%,

03/26/2032

(o) 143

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Cotiviti

Inc

;

Term

Loan

B

6.73%,

05/01/2031

(o) 370

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Darktrace

Finco

US

LLC

;

Term

Loan

B

7.19%,

10/09/2031

(o) 542

543

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Dayforce

Inc

;

Term

Loan

B

5.84%,

03/01/2031

(o) 229

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Disco

Parent

Inc

/

Duck

Creek

Technologies

Inc

7.22%,

08/06/2032

(o) 45

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Ellucian

Holdings

Inc

;

Term

Loan

B

6.71%,

10/08/2029

(o) 249

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Epicor

Software

Corp

;

Term

Loan

B

6.46%,

05/23/2031

(o) 746

748

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

FinThrive

Software

Intermediate

Holdings

Inc

;

Term

Loan

B

8.00%,

12/15/2028

(o) 95

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Genesys

Cloud

Services

Inc

;

Term

Loan

B

6.46%,

01/30/2032

(o) 463

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Icon

Parent

Inc

6.75%,

11/13/2031

(o) 539

540

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Javelin

Buyer

Inc

;

Term

Loan

6.59%,

12/05/2031

(o) 331

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Kaseya

Inc

;

Term

Loan

B

6.96%,

03/20/2032

(o) 235

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Mitchell

International

Inc

;

Term

Loan

B

7.21%,

06/17/2031

(o) 371

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Open

Text

Corp

;

Term

Loan

B

0.00%,

01/31/2030

(o),(p)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

PointClickCare

Technologies

Inc

;

Term

Loan

B

6.75%,

11/03/2031

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Rackspace

Finance

LLC

;

Term

Loan

B

6.82%,

05/15/2028

(o) 282

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

10.32%,

05/15/2028

(o) 169

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.25%

Rocket

Software

Inc

;

Term

Loan

B

7.71%,

11/28/2028

(o) 432

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.75%

SS&C

Technologies

Inc

;

Term

Loan

B8

5.96%,

05/09/2031

(o) 133

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

UKG

Inc

;

Term

Loan

B

6.34%,

02/10/2031

(o) 1,009

1,008

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

VS

Buyer

LLC

;

Term

Loan

B

6.09%,

04/12/2031

(o) 168

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

West

Technology

Group

LLC

;

Term

Loan

B3

8.09%,

04/09/2027

(o) 249

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Zelis

Payments

Buyer

Inc

;

Term

Loan

B

6.71%,

09/28/2029

(o) 391

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

ZoomInfo

LLC

;

Term

Loan

B

5.71%,

02/28/2030

(o) 157

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

$

9,384

Telecommunications

-

.32

%

Cincinnati

Bell

Inc

;

Term

Loan

B5

6.21%,

11/22/2028

(o) 273

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

CommScope

LLC

8.71%,

12/18/2029

(o) 1,830

1,838

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Connect

Finco

SARL

;

Term

Loan

B

8.47%,

09/27/2029

(o) 106

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

Connect

Holding

II

LLC

;

Delayed

Draw

Term

Loan

B-DD

8.17%,

04/03/2031

(o) 42

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Cyborg

Oldco

DC

Holdings

Inc

;

Term

Loan

B

0.00%,

05/01/2024

(g),(i),(o)

—

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Delta

Topco

Inc

;

Term

Loan

B

6.75%,

11/30/2029

(o) 608

605

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

Digicel

International

Finance

Ltd

;

Term

Loan

B

9.23%,

08/07/2032

(o) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.25%

Frontier

Communications

Holdings

LLC

;

Term

Loan

B

6.46%,

07/01/2031

(o) 691

690

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.50%

Level

Financing

Inc

;

Term

Loan

B4

7.21%,

03/29/2032

(o) 983

984

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.25%

Lumen

Technologies

Inc

;

Term

Loan

A

9.97%,

06/01/2028

(o) 394

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.00%

Lumen

Technologies

Inc

;

Term

Loan

B2

6.43%,

04/15/2030

(o) 760

755

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.35%

Telesat

LLC

;

Term

Loan

B5

7.21%,

12/06/2026

(o) 242

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Viasat

Inc

;

Term

Loan

B

8.57%,

05/30/2030

(o) 263

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

8.59%,

03/04/2029

(o) 13

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.50%

Windstream

Services

LLC

;

Term

Loan

B

7.96%,

09/24/2032

(o) 127

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Zayo

Group

Holdings

Inc

;

PIK

Term

Loan

7.08%,

PIK

0.50%,

03/11/2030

(n),(o)

1,334

1,263

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.50%

$

7,729

Transportation

-

.01

%

PODS

LLC

;

Term

Loan

B

7.08%,

03/31/2028

(o) 76

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Stonepeak

Nile

Parent

LLC

;

Term

Loan

B

6.16%,

04/09/2032

(o) 116

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

67,995

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

.64

%

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

.22

%

3.50%,

12/01/2055

(q) $

2,376

$

2,198

5.00%,

12/01/2055

(q) 808

806

5.50%,

12/01/2055

(q) 2,379

2,409

$

5,413

U.S.

Treasury

Bill

-

.00

%

3.66%,

04/16/2026

(a),(r)

14,500

14,299

3.82%,

12/26/2025

(a),(r),(s)

40,180

40,071

3.83%,

01/20/2026

(a),(r)

26,480

26,340

3.84%,

01/06/2026

(a),(r)

44,960

44,789

3.84%,

01/13/2026

(a),(r)

53,115

52,875

3.89%,

12/23/2025

(a),(r)

1,240

1,237

3.98%,

12/30/2025

(a),(r),(s),(t)

79,105

78,858

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

Bill

(continued)

4.00%,

01/15/2026

(a),(r),(t)

$

2,800

$

2,787

4.05%,

12/09/2025

(a),(r)

4.13%,

12/04/2025

(a),(r),(s)

6,970

6,968

$

268,604

U.S.

Treasury

Inflation-Indexed

Obligations

-

.42

%

0.13%,

01/15/2030

3,379

3,222

0.13%,

07/15/2030

4,250

4,037

0.13%,

01/15/2031

4,486

4,212

0.13%,

07/15/2031

4,672

4,364

0.13%,

01/15/2032

5,074

4,678

0.13%,

02/15/2051

1,641

913

0.13%,

02/15/2052

1,931

1,052

0.25%,

07/15/2029

3,574

3,458

0.25%,

02/15/2050

1,554

921

0.50%,

01/15/2028

4,228

4,162

0.63%,

07/15/2032

5,427

5,144

0.63%,

02/15/2043

1,724

1,309

0.75%,

07/15/2028

3,659

3,627

0.75%,

02/15/2042

2,963

2,350

0.75%,

02/15/2045

2,665

1,987

0.88%,

01/15/2029

2,792

2,760

0.88%,

02/15/2047

1,689

1,247

1.00%,

02/15/2046

1,221

942

1.00%,

02/15/2048

1,133

848

1.00%,

02/15/2049

1,129

833

1.13%,

10/15/2030

2,646

2,626

1.13%,

01/15/2033

5,120

4,967

1.25%,

04/15/2028

4,418

4,413

1.38%,

07/15/2033

5,000

4,927

1.38%,

02/15/2044

2,327

1,987

1.50%,

02/15/2053

1,847

1,479

1.63%,

10/15/2027

1,858

1,877

1.63%,

10/15/2029

4,826

4,900

1.63%,

04/15/2030

5,517

5,583

1.75%,

01/15/2028

1,534

1,550

1.75%,

01/15/2034

5,489

5,520

1.88%,

07/15/2034

5,615

5,702

1.88%,

07/15/2035

5,316

5,364

2.13%,

04/15/2029

4,678

4,802

2.13%,

01/15/2035

(t) 6,607

6,802

2.13%,

02/15/2040

2.13%,

02/15/2041

1,307

1,301

2.13%,

02/15/2054

1,767

1,631

2.38%,

01/15/2027

1,772

1,791

2.38%,

10/15/2028

4,279

4,428

2.38%,

02/15/2055

2,192

2,139

2.50%,

01/15/2029

1,545

1,603

3.38%,

04/15/2032

716

798

3.63%,

04/15/2028

1,761

1,857

3.88%,

04/15/2029

1,966

2,131

$

132,352

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

406,369

Total

Investments

$

2,452,908

Other

Assets

and

Liabilities

- (0.41)%

(10,034)

TOTAL

NET

ASSETS

-

100.00%

$

2,442,874

(a) All

or

a

portion

of

this

security

is

owned

by

the

DRA

Cayman

Corporation,

which

is

a

wholly-owned

subsidiary

of

the

Fund.

(b) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13,785

or

0.56%

of

net

assets.

(c) The

Trust

is

not

registered

as

an

investment

company

under

the

Investment

Company

Act

of

1940,

as

amended,

and

is

not

required

to

register

under

such

act.

Consequently,

shareholders

do

not

have

the

regulatory

protections

provided

to

investors

in

registered

investment

companies.

The

Trust

sells

shares

under

the

Securities

Act

of

1933

and

files

reports

pursuant

to

the

Securities

Act

of

1934. (d) 1-day

yield

shown

is

as

of

period

end.

(e) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(f) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$15,519

or

0.64%

of

net

assets.

(g) Non-income

producing

security

(h) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$61,996

or

2.54%

of

net

assets.

(i) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(j) Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(k) Security

is

subject

to

a

contractual

sale

restriction

but

this

feature

is

not

considered

in

measuring

the

fair

value.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$537.

The

sale

restriction

provision

specified

in

the

shareholder

agreements

have

no

specified

expiration

date

or

circumstances

that

could

cause

a

lapse.

(l) Security

purchased

on

a

when-issued

basis.

(m) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(n) Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(o) Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(p) This

Senior

Floating

Rate

Note

will

settle

after

November

30,

2025,

at

which

time

the

interest

rate

will

be

determined.

(q) Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(r) Rate

shown

is

the

discount

rate

of

the

original

purchase.

(s) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13,185

or

0.54%

of

net

assets.

(t) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

swap

and/or

swaption

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$8,820

or

0.36%

of

net

assets.

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

51,139

$

454,314

$

453,168

$

52,285

$

51,139

$

454,314

$

453,168

$

52,285

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Millennium

Health

LLC

03/15/2016

$

—

$

0.00%

Millennium

Health

LLC

03/15/2016

—

—

0.00%

Total

$

0.00%

Amounts

in

thousands.

Interest

Rate

Swaptions

Written

Swaptions

Outstanding

Counterparty

Paid

by

the

Fund

Rate/Reference Frequency

Received

by

the

Fund

Rate/Reference Frequency

Notional

Amount

Exercise

Rate

Expiration

Date

Upfront

Premiums

Received

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Annual

3.30%

Annual

$

551

3.30%

12/30/2025

$

(2)

$

—

$

Put

-

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Annual

4.00%

Annual

1,564

4.00%

04/23/2026

(10)

(9)

Put

-

Year

Interest

Rate

Swap

Citigroup

Inc

Secured

Overnight

Financing

Rate

Annual

4.30%

Annual

9,161

4.30%

09/20/2027

(26)

(21)

Put

-

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Annual

3.58%

Annual

1,137

3.58%

02/20/2026

—

—

—

Total

$

(38)

$

(30)

$

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Australia

Year

Bond;

December

2025

Long

$

$

(1)

Australia

Year

Bond;

December

2025

Long

1,595

(15)

Brent

Crude;

April

2026

(a) Long

1,728

(63)

Brent

Crude;

December

2027

(a) Long

1,758

(42)

Brent

Crude;

June

2026

(a) Long

3,884

Brent

Crude;

May

2026

(a) Long

4,809

(136)

California

Carbon

Allowance

Vintage;

December

2026

(a) Long

3,850

(66)

California

Low

Carbon

Fuel;

December

2026

(a) Long

(34)

Canada

Year

Bond;

March

2026

Short

1,144

(4)

Cocoa;

March

2026

(a) Long

(35)

Coffee

'C';

May

2026

(a) Long

(7)

Copper;

March

2026

(a) Long

6,590

Copper;

May

2026

(a) Long

1,462

Corn;

March

2026

(a) Short

—

Corn;

May

2026

(a) Long

1,481

Cotton

No.2;

March

2026

(a) Long

3,397

(115)

Cotton

No.2;

May

2026

(a) Long

(6)

ECX

Emission;

December

2026

(a) Short

1,487

(47)

Euribor;

December

2026

Long

2,558

—

Euro

Bond

Year

Bond;

December

2025

Long

598

(1)

Euro

Milling

Wheat;

March

2026

(a) Long

4,374

(258)

Feeder

Cattle;

January

2026

(a) Long

648

(5)

Feeder

Cattle;

March

2026

(a) Long

636

Frozen

Concentrated

Orange

Juice-A;

January

2026

(a) Long

(36)

Gasoline

RBOB;

February

2026

(a) Long

4,888

Gasoline

RBOB;

January

2026

(a) Long

2,754

(118)

Gasoline

RBOB;

May

2026

(a) Long

1,025

(20)

Gold

oz;

April

2026

(a) Long

21,852

823

Gold

oz;

February

2026

(a) Long

Gold

oz;

June

2026

(a) Long

22,437

KC

HRW

Wheat;

March

2026

(a) Long

1,978

KC

HRW

Wheat;

May

2026

(a) Long

(7)

Lean

Hogs;

April

2026

(a) Long

714

(48)

Live

Cattle;

April

2026

(a) Long

2,986

(208)

Live

Cattle;

June

2026

(a) Long

4,116

LME

Copper;

December

2025

(a) Short

—

—

742

LME

Copper;

December

2026

(a) Short

—

—

(91)

LME

Copper;

January

2026

(a) Short

—

—

712

LME

Copper;

March

2026

(a) Long

25,453

976

LME

Lead;

January

2026

(a) Short

—

—

(6)

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

LME

Lead;

March

2026

(a) Short

—

$

—

$

LME

Lead;

May

2026

(a) Long

(4)

LME

Nickel;

January

2026

(a) Short

—

—

(6)

LME

Nickel;

March

2026

(a) Short

—

—

(10)

LME

Nickel;

March

2026

(a) Long

1,873

LME

Nickel;

May

2026

(a) Long

539

(9)

LME

Primary

Alum;

December

2025

(a) Short

—

—

LME

Primary

Alum;

December

2026

(a) Short

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

(1)

LME

Primary

Alum;

March

2026

(a) Short

—

—

LME

Primary

Alum;

March

2026

(a) Long

6,539

LME

Primary

Alum;

May

2026

(a) Long

1,513

LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

January

2026

(a) Short

—

—

LME

Zinc;

March

2026

(a) Short

—

—

LME

Zinc;

May

2026

(a) Long

608

Low

Sulphur

Gasoline;

April

2026

(a) Long

3,213

(56)

Low

Sulphur

Gasoline;

January

2026

(a) Long

536

(26)

Low

Sulphur

Gasoline;

May

2026

(a) Long

5,338

Natural

Gas;

December

2026

(a) Long

6,554

Natural

Gas;

January

2026

(a) Long

2,813

Natural

Gas;

May

2026

(a) Short

—

NY

Harbor

ULSD;

April

2026

(a) Long

1,562

(45)

NY

Harbor

ULSD;

May

2026

(a) Long

2,629

(38)

Palladium;

March

2026

(a) Long

Platinum;

April

2026

(a) Long

1,704

Platinum;

January

2026

(a) Long

590

Robusta

Coffee

10tn;

May

2026

(a) Long

(14)

SGX

Iron

Ore

62%;

February

2026

(a) Long

2,200

(10)

Silver;

March

2026

(a) Long

Silver;

May

2026

(a) Long

3,167

Soybean

Future;

January

2026

(a) Short

910

(8)

Soybean

Future;

May

2026

(a) Long

19,120

641

Soybean

Meal;

May

2026

(a) Long

1,285

Soybean

Oil;

July

2026

(a) Long

7,781

Soybean

Oil;

March

2026

(a) Long

662

Soybean

Oil;

May

2026

(a) Long

Sugar

#11;

May

2026

(a) Long

4,619

TTF

Natural

Gas;

December

2026

(a) Short

1,592

TTF

Natural

Gas;

January

2026

(a) Long

(38)

TTF

Natural

Gas;

May

2026

(a) Long

(11)

UK

Year

Gilt;

March

2026

Short

—

UK

Emissions

Allowance;

December

2026

(a) Long

1,531

US

Year

Treasury

Note;

March

2026

Long

2,607

US

Year

Treasury

Ultra

Note;

March

2026

Short

4,299

(38)

US

Year

Treasury

Note;

March

2026

Long

3,133

US

Year

Treasury Note;

March

2026

Long

659

US

Long

Bond;

March

2026

Short

1,292

(10)

US

Ultra

Bond;

March

2026

Long

—

Wheat;

March

2026

(a) Short

2,477

Wheat;

May

2026

(a) Long

(14)

WTI

Crude;

April

2026

(a) Long

3,016

(78)

WTI

Crude;

January

2026

(a) Long

1,639

(26)

WTI

Crude;

May

2026

(a) Short

1,624

WTI

Crude;

May

2026

(a) Long

4,583

Total

$

5,668

Amounts

in

thousands

except

contracts.

(a) All

or

a

portion

of

this

security

is

owned

by

the

DRA

Cayman

Corporation,

which

is

a

wholly-owned

subsidiary

of

the

Fund.

Foreign

Currency

Contracts

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Bank

of

America

NA

12/02/2025

JPY

81,556

$

521

$

$

—

Bank

of

America

NA

01/05/2026

$

523

JPY

81,556

—

(1)

Barclays

Bank

PLC

12/02/2025

$

AUD

—

—

Barclays

Bank

PLC

12/17/2025

BRL

2,103

$

—

Barclays

Bank

PLC

12/17/2025

$

1,624

BRL

8,904

(42)

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

Foreign

Currency

Contracts

(continued)

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Citigroup

Inc

12/02/2025

AUD

$

$

—

$

—

Citigroup

Inc

12/17/2025

CNH

5,053

$

714

—

Citigroup

Inc

12/17/2025

PEN

$

—

—

Citigroup

Inc

12/17/2025

$

PEN

836

—

(9)

Citigroup

Inc

01/05/2026

$

AUD

—

—

Cowen

Group

12/17/2025

BRL

965

$

—

Cowen

Group

12/17/2025

$

BRL

1,091

—

(7)

Deutsche

Bank

AG

12/17/2025

ZAR

5,716

$

—

Deutsche

Bank

AG

01/05/2026

$

GBP

—

—

Goldman

Sachs

&

Co

12/17/2025

$

ZAR

5,377

—

(6)

HSBC

Securities

Inc

01/05/2026

JPY

2,050

$

—

—

HSBC

Securities

Inc

01/05/2026

$

GBP

—

—

JPMorgan

Chase

12/17/2025

BRL

2,139

$

—

JPMorgan

Chase

12/17/2025

MXN

5,546

$

—

JPMorgan

Chase

12/17/2025

$

714

CNH

5,077

—

(5)

Morgan

Stanley

&

Co

12/02/2025

$

EUR

—

—

Morgan

Stanley

&

Co

12/17/2025

$

MXN

1,842

—

—

Morgan

Stanley

&

Co

12/17/2025

$

BRL

519

—

—

Morgan

Stanley

&

Co

01/05/2026

$

CAD

—

—

UBS

AG

12/02/2025

$

534

JPY

82,141

—

Total

$

$

(70)

Amounts

in

thousands.

Exchange

Cleared

Credit

Default

Swaps

Sell

Protection

Reference

Entity

Implied

Credit

Spread

as

of

November

30,

2025

(a) (Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

(b) Upfront

Premiums

Paid/

(Received)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

(c) CDX.NA.HY.45

N/A

5.00%

Quarterly

12/20/2030

$

1,055

$

$

—

$

Total

$

$

—

$

Amounts

in

thousands.

(a) Implied

credit

spreads,

represented

in

absolute

terms,

used

in

determining

the

fair

value

of

credit

default

swap

agreements

on

corporate

issues

or

sovereign

issues

as

of

period

end

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

(b) The

maximum

potential

payment

amount

that

the

seller

of

credit

protection

could

be

required

to

make

if

a

credit

event

occurs

is

$1,055.

(c) The

price

and

resulting

fair

value

for

credit

default

swap

agreements

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

of

an

expected

liability

(or

profit)

for

the

credit

default

swap

as

of

the

period

end.

Increasing

fair

values

of

the

swap,

in

absolute

terms

when

compared

to

the

notional

amount

of

the

swap,

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Exchange

Cleared

Interest

Rate

Swaps

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a) Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Premiums

Paid/

(Received)

Fair

Value

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.59%

Maturity

Maturity

N/A

01/29/2027

$

5,290

$

$

—

$

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.92%

Maturity

Maturity

N/A

10/15/2027

1,145

(9)

—

(9)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.63%

Maturity

Maturity

N/A

09/09/2030

1,108

(9)

—

(9)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.77%

Maturity

Maturity

N/A

10/15/2027

(1)

—

(1)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.49%

Maturity

Maturity

N/A

11/25/2027

950

—

—

—

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.69%

Maturity

Maturity

N/A

07/17/2030

941

(9)

—

(9)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Pay

2.39%

Maturity

Maturity

N/A

04/15/2030

(1)

—

(1)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.64%

Maturity

Maturity

N/A

04/15/2029

(2)

—

(2)

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

Exchange

Cleared

Interest

Rate

Swaps

(continued)

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a) Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Premiums

Paid/

(Received)

Fair

Value

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.80%

Maturity

Maturity

N/A

07/15/2027

825

$

(6)

$

—

$

(6)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.90%

Maturity

Maturity

N/A

04/15/2027

3,125

(21)

—

(21)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.92%

Maturity

Maturity

N/A

05/12/2027

1,105

(7)

—

(7)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.53%

Maturity

Maturity

N/A

04/15/2029

—

—

—

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.65%

Maturity

Maturity

N/A

04/15/2029

(1)

—

(1)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.65%

Maturity

Maturity

N/A

07/15/2027

2,675

(6)

—

(6)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.72%

Maturity

Maturity

N/A

04/15/2029

(4)

—

(4)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.69%

Maturity

Maturity

N/A

04/15/2029

(3)

—

(3)

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.53%

Maturity

Maturity

N/A

04/15/2029

—

—

—

Consumer

Price

All

Urban

Non-

Seasonally

Adjusted

Index

Receive

2.67%

Maturity

Maturity

N/A

04/15/2029

(2)

—

(2)

EUR

-

France

Consumer

Price

Index

Ex

Tobacco

Pay

1.87%

Maturity

Maturity

N/A

11/15/2035

EUR

$

—

EUR

-

France

Consumer

Price

Index

Ex

Tobacco

Pay

1.58%

Maturity

Maturity

N/A

11/15/2030

880

—

EUR

-

France

Consumer

Price

Index

Ex

Tobacco

Pay

2.02%

Maturity

Maturity

N/A

03/15/2035

(1)

Eurostat

Eurozone

HICP

ex

Tobacco

Receive

2.06%

Maturity

Maturity

N/A

03/15/2035

(4)

(3)

Eurostat

Eurozone

HICP

ex

Tobacco

Receive

1.96%

Maturity

Maturity

N/A

11/15/2035

(1)

—

(1)

Eurostat

Eurozone

HICP

ex

Tobacco

Receive

1.85%

Maturity

Maturity

N/A

11/15/2030

880

—

—

—

Eurostat

Eurozone

HICP

ex

Tobacco

Pay

1.79%

Maturity

Maturity

N/A

11/15/2027

980

—

—

—

Secured

Overnight

Financing

Rate

Receive

3.79%

Annual

Annual

N/A

05/16/2026

$

2,710

$

—

Secured

Overnight

Financing

Rate

Receive

3.81%

Annual

Annual

N/A

05/16/2026

2,079

—

Secured

Overnight

Financing

Rate

Pay

3.90%

Annual

Annual

N/A

05/16/2026

2,079

(4)

—

(4)

Secured

Overnight

Financing

Rate

Pay

3.80%

Annual

Annual

N/A

05/16/2026

2,710

(7)

—

(7)

Tokyo

Overnight

Average

Rate

Receive

1.00%

Annual

Annual

N/A

03/12/2027

JPY

162,371

$

(1)

—

(1)

Tokyo

Overnight

Average

Rate

Receive

1.03%

Annual

Annual

N/A

03/12/2027

397,353

(3)

—

(3)

Tokyo

Overnight

Average

Rate

Receive

1.02%

Annual

Annual

N/A

03/12/2027

368,112

(3)

—

(3)

Tokyo

Overnight

Average

Rate

Receive

0.70%

Annual

Annual

N/A

05/11/2027

124,387

—

Tokyo

Overnight

Average

Rate

Receive

0.69%

Annual

Annual

N/A

04/21/2027

157,585

—

Tokyo

Overnight

Average

Rate

Receive

0.68%

Annual

Annual

N/A

04/21/2027

155,764

—

Tokyo

Overnight

Average

Rate

Pay

1.01%

Annual

Annual

N/A

09/11/2027

108,145

(1)

—

(1)

United

Kingdom

Retail

Prices

Index

Pay

3.26%

Maturity

Maturity

N/A

08/15/2027

GBP

852

$

—

United

Kingdom

Retail

Prices

Index

Receive

3.37%

Maturity

Maturity

N/A

08/15/2029

852

(11)

—

(11)

United

Kingdom

Retail

Prices

Index

Pay

3.20%

Maturity

Maturity

N/A

08/15/2035

—

United

Kingdom

Retail

Prices

Index

Receive

3.35%

Maturity

Maturity

N/A

08/15/2030

(6)

—

(6)

United

Kingdom

Retail

Prices

Index

Pay

3.08%

Maturity

Maturity

N/A

11/15/2035

869

United

Kingdom

Retail

Prices

Index

Pay

3.09%

Maturity

Maturity

N/A

10/15/2035

865

United

Kingdom

Retail

Prices

Index

Receive

3.18%

Maturity

Maturity

N/A

11/15/2030

869

(1)

(1)

(2)

United

Kingdom

Retail

Prices

Index

Receive

3.17%

Maturity

Maturity

N/A

11/15/2030

670

(1)

—

(1)

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

Exchange

Cleared

Interest

Rate

Swaps

(continued)

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a) Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Premiums

Paid/

(Received)

Fair

Value

United

Kingdom

Retail

Prices

Index

Pay

3.08%

Maturity

Maturity

N/A

11/15/2035

670

$

$

—

$

United

Kingdom

Retail

Prices

Index

Receive

3.46%

Maturity

Maturity

N/A

07/15/2030

(5)

—

(5)

United

Kingdom

Retail

Prices

Index

Receive

3.15%

Maturity

Maturity

N/A

10/15/2030

865

(4)

(2)

(6)

United

Kingdom

Retail

Prices

Index

Receive

3.49%

Maturity

Maturity

N/A

07/15/2029

500

(9)

—

(9)

United

Kingdom

Retail

Prices

Index

Receive

3.39%

Maturity

Maturity

N/A

07/15/2030

(4)

—

(4)

United

Kingdom

Retail

Prices

Index

Pay

3.27%

Maturity

Maturity

N/A

07/15/2035

—

United

Kingdom

Retail

Prices

Index

Pay

3.20%

Maturity

Maturity

N/A

07/15/2027

1,170

—

—

—

United

Kingdom

Retail

Prices

Index

Receive

3.34%

Maturity

Maturity

N/A

07/15/2029

1,170

(11)

—

(11)

United

Kingdom

Retail

Prices

Index

Receive

3.32%

Maturity

Maturity

N/A

07/15/2030

535

(7)

—

(7)

United

Kingdom

Retail

Prices

Index

Pay

3.20%

Maturity

Maturity

N/A

07/15/2035

535

—

United

Kingdom

Retail

Prices

Index

Pay

3.23%

Maturity

Maturity

N/A

07/15/2027

1,170

—

United

Kingdom

Retail

Prices

Index

Receive

3.36%

Maturity

Maturity

N/A

07/15/2029

1,170

(13)

(12)

United

Kingdom

Retail

Prices

Index

Receive

3.35%

Maturity

Maturity

N/A

07/15/2030

540

(8)

—

(8)

United

Kingdom

Retail

Prices

Index

Pay

3.21%

Maturity

Maturity

N/A

07/15/2035

540

—

United

Kingdom

Retail

Prices

Index

Pay

3.43%

Maturity

Maturity

N/A

07/15/2027

500

—

United

Kingdom

Retail

Prices

Index

Receive

3.41%

Maturity

Maturity

N/A

07/15/2029

510

(7)

—

(7)

United

Kingdom

Retail

Prices

Index

Pay

3.28%

Maturity

Maturity

N/A

07/15/2027

510

—

United

Kingdom

Retail

Prices

Index

Pay

3.24%

Maturity

Maturity

N/A

07/15/2035

—

United

Kingdom

Retail

Prices

Index

Pay

3.24%

Maturity

Maturity

N/A

07/15/2035

—

United

Kingdom

Retail

Prices

Index

Receive

3.42%

Maturity

Maturity

N/A

07/15/2029

521

(7)

—

(7)

United

Kingdom

Retail

Prices

Index

Receive

3.40%

Maturity

Maturity

N/A

07/15/2030

(4)

—

(4)

United

Kingdom

Retail

Prices

Index

Pay

3.30%

Maturity

Maturity

N/A

07/15/2027

521

(1)

United

Kingdom

Retail

Prices

Index

Pay

3.24%

Maturity

Maturity

N/A

07/15/2035

—

United

Kingdom

Retail

Prices

Index

Pay

3.32%

Maturity

Maturity

N/A

07/15/2027

1,020

—

United

Kingdom

Retail

Prices

Index

Receive

3.43%

Maturity

Maturity

N/A

07/15/2029

1,020

(14)

—

(14)

United

Kingdom

Retail

Prices

Index

Receive

3.41%

Maturity

Maturity

N/A

07/15/2030

(8)

—

(8)

US

Federal

Funds

Effective

Rate

(continuous

series)

Pay

3.82%

Annual

Annual

N/A

01/28/2026

$

21,801

$

—

US

Federal

Funds

Effective

Rate

(continuous

series)

Receive

3.79%

Annual

Annual

N/A

01/28/2026

21,801

(3)

—

(3)

US

Federal

Funds

Effective

Rate

(continuous

series)

Receive

3.68%

Annual

Annual

N/A

01/28/2026

21,830

—

—

—

US

Federal

Funds

Effective

Rate

(continuous

series)

Receive

3.68%

Annual

Annual

N/A

01/28/2026

10,629

—

—

—

Total

$

(96)

$

$

(95)

Amounts

in

thousands.

(a)&nbsp;&nbsp;&nbsp;&nbsp;

Forward

swap.

Consolidated

Schedule

of

Investments

Diversified

Real

Asset

Fund

November

30,

2025

(unaudited)

Total

Return

Swaps

Counterparty

Fund

Pays

Fund

Receives

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Premiums

Paid/

(Received)

Value

and

Unrealized

Appreciation/

(Depreciation)

Asset

Liability

Bank

of

America

NA

(a) 3

Month

US

Treasury

Bill

High

Rate

+

0.11%

Bloomberg

Commodity

Index

Month

Forward

Total

Return

Monthly

11/02/2026

$

$

—

$

$

—

Bank

of

America

NA

(a) 3

Month

US

Treasury

Bill

High

Rate

+

0.25%

CRB

Total

Return

Index

Monthly

05/01/2026

—

—

(34)

Citigroup

Inc

(a) 3

Month

US

Treasury

Bill

High

Rate

+

0.11%

Bloomberg

Commodity

Index

Month

Forward

Total

Return

Monthly

11/02/2026

—

687

—

Citigroup

Inc

(a) 3

Month

US

Treasury

Bill

High

Rate

+

0.24%

CRB

Total

Return

Index

Monthly

05/01/2026

—

—

(36)

Goldman

Sachs

&

Co

(a) 3

Month

US

Treasury

Bill

High

Rate

+

0.12%

Bloomberg

Commodity

Index

Month

Forward

Total

Return

Monthly

11/02/2026

—

609

—

Goldman

Sachs

&

Co

(a) Bloomberg

Commodity

Subindex

Month

Forward

Total

Return

+

0.21%

Bloomberg

Commodity

Index

Month

Forward

Total

Return

Monthly

10/01/2026

—

—

(26)

Goldman

Sachs

&

Co

(a) Bloomberg

Commodity

Subindex

Month

Forward

Total

Return

+

0.25%

Bloomberg

Commodity

Index

Month

Forward

Total

Return

Monthly

10/01/2026

—

—

(46)

Total

$

—

$

1,389

$

(142)

Amounts

in

thousands.

(a) All

or

a

portion

of

this

security

is

owned

by

the

DRA

Cayman

Corporation,

which

is

a

wholly-owned

subsidiary

of

the

Fund.

Schedule

of

Investments

Global

Listed

Infrastructure

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.66

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.66

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.88%

(a),(b)

1,597,299

$

1,597

Principal

Government

Money

Market

Fund

-

Class

3.87%

(a),(c)

1,833,893

1,834

$

3,431

TOTAL

INVESTMENT

COMPANIES

$

3,431

COMMON

STOCKS

-

.39

%

Shares

Held

Value

(000's)

Commercial

Services

-

.13

%

Atlas

Arteria

Ltd

1,139,204

$

3,718

Motiva

Infraestrutura

de

Mobilidade

SA

954,822

2,887

$

6,605

Electric

-

.40

%

Algonquin

Power

&

Utilities

Corp

450,200

2,754

Boralex

Inc

(d) 87,166

1,557

CenterPoint

Energy

Inc

99,412

3,975

CMS

Energy

Corp

61,964

4,675

DTE

Energy

Co

14,431

1,978

EDP

Renovaveis

SA

94,920

1,265

Elia

Group

SA/NV

26,562

3,208

Emera

Inc

31,000

1,504

Entergy

Corp

56,807

5,540

National

Grid

PLC

358,898

5,453

NextEra

Energy

Inc

110,631

9,546

PG&E

Corp

220,724

3,558

Sempra

55,660

5,272

Xcel

Energy

Inc

53,138

4,363

$

54,648

Engineering

&

Construction

-

.71

%

Aeroports

de

Paris

SA

27,077

3,971

Beijing

Capital

International

Airport

Co

Ltd

(e) 4,370,000

1,575

Cellnex

Telecom

SA

(e),(f)

71,402

2,144

China

Tower

Corp

Ltd

(f) 1,210,500

1,916

Enav

SpA

(f) 237,713

1,263

Sarana

Menara

Nusantara

Tbk

PT

50,185,700

1,643

$

12,512

Gas

-

.22

%

ENN

Energy

Holdings

Ltd

313,300

2,864

Oil

&

Gas

Services

-

.72

%

Solaris

Energy

Infrastructure

Inc

19,421

930

Pipelines

-

.45

%

APA

Group

444,074

2,694

DT

Midstream

Inc

19,348

2,350

Gibson

Energy

Inc

183,400

3,335

Williams

Cos

Inc/The

104,653

6,376

$

14,755

REITs

-

.60

%

American

Tower

Corp

26,695

4,839

Crown

Castle

Inc

47,874

4,370

Equinix

Inc

2,491

1,876

$

11,085

Telecommunications

-

.48

%

Indus

Towers

Ltd

(e) 423,137

1,904

Transportation

-

.13

%

Canadian

National

Railway

Co

38,900

3,725

CSX

Corp

148,893

5,265

Norfolk

Southern

Corp

9,865

2,882

Rumo

SA

782,458

2,476

$

14,348

Water

-

.55

%

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

SABESP

74,400

1,966

Guangdong

Investment

Ltd

2,452,524

2,359

Severn

Trent

PLC

75,856

2,829

$

7,154

TOTAL

COMMON

STOCKS

$

126,805

Total

Investments

$

130,236

Other

Assets

and

Liabilities

- (1.05)%

(1,357)

TOTAL

NET

ASSETS

-

100.00%

$

128,879

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,597

or

1.24%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,541

or

1.20%

of

net

assets.

(e) Non-income

producing

security

(f) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$5,323

or

4.13%

of

net

assets.

Schedule

of

Investments

Global

Listed

Infrastructure

Fund

November

30,

2025

(unaudited)

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

2,721

$

15,376

$

16,263

$

1,834

$

2,721

$

15,376

$

16,263

$

1,834

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Consolidated

Schedule

of

Investments

Global

Macro

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

93.21%

Shares

Held

Value

(000's)

Money

Market

Funds

-

93.21%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.90%

(a),(b)

27,776,353

$

27,777

Principal

Government

Money

Market

Fund

-

Class

3.87%

(a),(c)

113,731,297

113,731

$

141,508

TOTAL

INVESTMENT

COMPANIES

$

141,508

Total

Investments

$

141,508

Other

Assets

and

Liabilities

- 6.79%

10,312

TOTAL

NET

ASSETS

-

100.00%

$

151,820

(a) 1-day

yield

shown

is

as

of

period

end.

(b) All

or

a

portion

of

this

security

is

owned

by

the

GM

Cayman

Corporation,

which

is

a

wholly-owned

subsidiary

of

the

Fund.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

—

$

121,561

$

7,830

$

113,731

$

—

$

121,561

$

7,830

$

113,731

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

AEX

Index;

December

2025

Long

$

657

$

Australia

Year

Bond;

December

2025

Short

4,833

Bovespa;

December

2025

Short

4,202

(74) Bovespa;

December

2025

Long

Brent

Crude;

March

2026

(a) Short

CAC40

Index;

December

2025

Short

3,961

(75) CAC40

Index;

December

2025

Long

Canada

Year

Bond;

March

2026

Long

4,838

Cocoa;

March

2026

(a) Short

2,257

(118) Coffee

'C';

March

2026

(a) Long

3,574

(35) Copper;

March

2026

(a) Short

2,504

(88) Copper;

March

2026

(a) Long

Corn;

March

2026

(a) Long

2,530

Corn;

March

2026

(a) Short

(2) Cotton

No.2;

March

2026

(a) Long

647

Cotton

No.2;

March

2026

(a) Short

(3) DAX

Index;

December

2025

Long

2,077

Euro

Bond

Year

Bond;

December

2025

Short

16,001

(19) Euro-BTP;

December

2025

Long

20,702

Euro-Oat;

December

2025

Long

12,972

Euro-Oat;

December

2025

Short

1,140

(4) FTSE

Taiwan

Index;

December

2025

Long

4,550

FTSE/JSE

Top

40;

December

2025

Short

3,028

(40) FTSE/JSE

Top

40;

December

2025

Long

(1) FTSE/MIB

Index;

December

2025

Short

1,511

(32) FTSE100

Index;

December

2025

Short

5,160

(86) FTSE100

Index;

December

2025

Long

Gasoline

RBOB;

January

2026

(a) Long

1,989

(52) Gold

oz;

February

2026

(a) Short

2,127

(53) Gold

oz;

February

2026

(a) Long

851

Hang

Seng

Index;

December

2025

Short

831

Hang

Seng

Index;

December

2025

Long

—

IFSC

Nifty

50;

December

2025

Long

2,798

Japan

Year

Bond

TSE;

December

2025

Short

9,516

Japan

Topix

Index;

December

2025

Long

3,246

KC

HRW

Wheat;

March

2026

(a) Short

KOSPI

Index;

December

2025

Long

3,685

Lean

Hogs;

February

2026

(a) Short

2,139

(37) Live

Cattle;

February

2026

(a) Long

1,133

LME

Lead;

January

2026

(a) Short

1,129

LME

Lead;

January

2026

(a) Short

LME

Nickel;

January

2026

(a) Short

(4) LME

Nickel;

January

2026

(a) Short

(3) LME

Primary

Alum;

January

2026

(a) Short

(5) LME

Primary

Alum;

January

2026

(a) Long

501

LME

Zinc;

January

2026

(a) Long

1,082

Consolidated

Schedule

of

Investments

Global

Macro

Fund

November

30,

2025

(unaudited)

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

LME

Zinc;

January

2026

(a) Short

$

$

(3) Low

Sulphur

Gasoline;

January

2026

(a) Long

2,813

(230) Mex

Bolsa

Index;

December

2025

Short

3,155

(67) Mex

Bolsa

Index;

December

2025

Long

MSCI

Singapore

Index;

December

2025

Long

5,300

(50) Natural

Gas;

January

2026

(a) Short

2,231

(56) Natural

Gas;

January

2026

(a) Long

NY

Harbor

ULSD;

January

2026

(a) Long

1,644

(156) OMXS30

Index;

December

2025

Short

2,900

(118) OMXS30

Index;

December

2025

Long

Platinum;

January

2026

(a) Short

1,601

(108) Platinum;

January

2026

(a) Long

S&P

500

Emini;

December

2025

Long

10,633

S&P/TSX

Index;

December

2025

Long

4,218

Silver;

March

2026

(a) Long

3,144

Soybean

Future;

January

2026

(a) Long

(2) Soybean

Meal;

January

2026

(a) Short

Soybean

Oil;

January

2026

(a) Short

999

(4) Soybean

Oil;

January

2026

(a) Long

—

SPI

Index;

December

2025

Short

6,357

(94) Sugar

#11;

March

2026

(a) Long

Sugar

#11;

March

2026

(a) Short

(6) Swiss

Market

Index;

December

2025

Short

(12) Swiss

Market

Index;

December

2025

Long

UK

Year

Gilt;

March

2026

Long

7,880

UK

Year

Gilt;

March

2026

Short

1,212

(12) US

Year

Treasury

Note;

March

2026

Short

23,122

(134) Wheat;

March

2026

(a) Short

3,662

WIG20

Index;

December

2025

Long

858

WTI

Crude;

January

2026

(a) Long

2,342

(23) WTI

Crude;

January

2026

(a) Short

Total

$

(43) Amounts

in

thousands

except

contracts.

(a) All

or

a

portion

of

this

security

is

owned

by

the

GM

Cayman

Corporation,

which

is

a

wholly-owned

subsidiary

of

the

Fund.

Foreign

Currency

Contracts

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

ANZ

Stockbroking

03/18/2026

GBP

$

$

$

—

ANZ

Stockbroking

03/18/2026

CAD

7,582

$

5,443

—

ANZ

Stockbroking

03/18/2026

NOK

116,527

$

11,481

—

ANZ

Stockbroking

03/18/2026

$

1,379

CAD

1,921

—

(3) ANZ

Stockbroking

03/18/2026

$

700

JPY

108,261

—

—

ANZ

Stockbroking

03/18/2026

$

8,460

AUD

13,045

—

(88) ANZ

Stockbroking

03/18/2026

$

2,693

GBP

2,054

—

(25) ANZ

Stockbroking

03/18/2026

$

6,128

NZD

10,851

—

(124) RBC

Dominon

Securities

Corp

03/17/2026

$

3,316

IDR

55,754,175

—

(26) RBC

Dominon

Securities

Corp

03/18/2026

EUR

2,708

$

3,153

—

RBC

Dominon

Securities

Corp

03/18/2026

TWD

133,483

$

4,325

—

(47) RBC

Dominon

Securities

Corp

03/18/2026

PLN

2,004

$

548

—

RBC

Dominon

Securities

Corp

03/18/2026

KRW

1,924,244

$

1,318

—

—

RBC

Dominon

Securities

Corp

03/18/2026

SEK

83,242

$

8,830

—

RBC

Dominon

Securities

Corp

03/18/2026

$

7,959

PLN

29,119

—

(17) RBC

Dominon

Securities

Corp

03/18/2026

$

6,953

INR

620,058

—

RBC

Dominon

Securities

Corp

03/18/2026

$

1,121

KRW

1,636,396

—

—

Standard

Chartered

Bank,

Hong

Kong

03/18/2026

BRL

46,891

$

8,550

—

Standard

Chartered

Bank,

Hong

Kong

03/18/2026

MXN

21,045

$

1,133

—

Standard

Chartered

Bank,

Hong

Kong

03/18/2026

ZAR

153,822

$

8,899

—

Standard

Chartered

Bank,

Hong

Kong

03/18/2026

CHF

622

$

785

—

(2) Standard

Chartered

Bank,

Hong

Kong

03/18/2026

$

10,822

CHF

8,569

—

Standard

Chartered

Bank,

Hong

Kong

03/18/2026

$

5,998

MXN

111,371

—

(23) Total

$

$

(355) Amounts

in

thousands.

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

21.84%

Shares

Held

Value

(000's)

Closed-End

Funds

-

0.39%

BlackRock

Municipal

Income

Quality

Trust

35,682

$

BlackRock

Municipal

Income

Trust

9,761

BlackRock

Municipal

Income

Trust

II

9,761

BlackRock

MuniHoldings

Fund

Inc

11,454

BlackRock

MuniHoldings

Quality

Fund

II

Inc

11,454

BlackRock

MuniYield

Quality

Fund

III

Inc

6,330

BlackRock

MuniYield

Quality

Fund

Inc

34,708

Eaton

Vance

Floating-Rate

Income

Trust

6,106

Franklin

Universal

Trust

11,812

Nuveen

AMT-Free

Municipal

Credit

Income

Fund

32,880

Saba

Capital

Income

&

Opportunities

Fund

5,486

$

1,923

Exchange-Traded

Funds

-

3.11%

iShares

Floating

Rate

Bond

ETF

72,943

3,725

iShares

MSCI

EAFE

Value

ETF

29,080

2,043

iShares

Russell

2000

ETF

721

iShares

Russell

2000

Growth

ETF

iShares

Russell

2000

Value

ETF

664

PGIM

AAA

CLO

ETF

115,740

5,955

Vanguard

Value

ETF

17,280

3,292

$

15,328

Money

Market

Funds

-

18.34%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.90%

(a),(b)

5,031,980

5,032

Morgan

Stanley

Institutional

Liquidity

Funds

-

Government

Portfolio

-

Institutional

Class

3.92%

(a),(b)

3,394,230

3,394

Principal

Government

Money

Market

Fund

-

Class

3.87%

(b),(c)

82,119,904

82,120

$

90,546

TOTAL

INVESTMENT

COMPANIES

$

107,797

COMMON

STOCKS

-

35.90%

Shares

Held

Value

(000's)

Advertising

-

0.07%

National

CineMedia

Inc

8,508

$

Omnicom

Group

Inc

4,412

Publicis

Groupe

SA

$

Aerospace

&

Defense

-

0.62%

Airbus

SE

CAE

Inc

(d),(e)

600

General

Dynamics

Corp

(e) 1,483

507

General

Electric

Co

(e) 1,183

HEICO

Corp

-

Class

A

(e) 465

Hexcel

Corp

1,161

Howmet

Aerospace

Inc

(e) 705

Kratos

Defense

&

Security

Solutions

Inc

(d) 171

L3Harris

Technologies

Inc

(e) 804

Lockheed

Martin

Corp

(e) 259

MTU

Aero

Engines

AG

Northrop

Grumman

Corp

RTX

Corp

(e) 3,393

593

Safran

SA

Spirit

AeroSystems

Holdings

Inc

(d) 13,046

Voyager

Technologies

Inc

(d) 269

$

3,071

Agriculture

-

0.17%

Altria

Group

Inc

(e) 2,276

Archer-Daniels-Midland

Co

3,184

Bunge

Global

SA

(e) 654

Imperial

Brands

PLC

1,573

Philip

Morris

International

Inc

(e) 2,469

$

846

Airlines

-

0.34%

ANA

Holdings

Inc

(e) 11,800

Delta

Air

Lines

Inc

(e) 10,054

645

Japan

Airlines

Co

Ltd

(e) 21,700

Qantas

Airways

Ltd

27,439

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Airlines

(continued)

United

Airlines

Holdings

Inc

(d),(e)

2,322

$

$

1,688

Apparel

-

0.38%

Asics

Corp

600

Carter's

Inc

1,243

Deckers

Outdoor

Corp

(d),(e)

3,367

Gildan

Activewear

Inc

(e) 3,000

Hanesbrands

Inc

(d) 59,135

Hermes

International

SCA

NIKE

Inc

(e) 2,228

On

Holding

AG

(d) 807

Ralph

Lauren

Corp

(e) 956

Steven

Madden

Ltd

1,755

Tapestry

Inc

(e) 2,328

$

1,859

Automobile

Manufacturers

-

0.40%

Blue

Bird

Corp

(d) 1,611

Cummins

Inc

Daimler

Truck

Holding

AG

2,096

Ford

Motor

Co

20,755

General

Motors

Co

(e) 2,510

Honda

Motor

Co

Ltd

18,800

Isuzu

Motors

Ltd

1,300

Mercedes-Benz

Group

AG

2,903

Renault

SA

1,680

Subaru

Corp

(e) 9,700

Tesla

Inc

(d),(e)

803

Volvo

AB

-

B

Shares

2,879

Zapp

Electric

Vehicles

Group

Ltd

-

Warrants

(d) 1,167

—

$

1,971

Automobile

Parts

&

Equipment

-

0.58%

Aisin

Corp

4,900

Aptiv

PLC

(d),(e)

30,333

2,352

Denso

Corp

(e) 5,700

Goodyear

Tire

&

Rubber

Co/The

(d) 5,534

Magna

International

Inc

(e) 4,500

Phinia

Inc

1,108

Sumitomo

Electric

Industries

Ltd

Visteon

Corp

$

2,881

Banks

-

1.37%

AIB

Group

PLC

1,088

ANZ

Group

Holdings

Ltd

1,039

Atlantic

Union

Bankshares

Corp

1,794

Banco

Bilbao

Vizcaya

Argentaria

SA

8,450

Banco

BPM

SpA

1,313

Bank

of

America

Corp

(e) 3,847

Bank

of

New

York

Mellon

Corp/The

Bank

OZK

1,191

Banner

Corp

795

BOC

Hong

Kong

Holdings

Ltd

33,000

Cadence

Bank

11,814

Citigroup

Inc

(e) 2,755

Citizens

Financial

Group

Inc

(e) 2,675

Columbia

Banking

System

Inc

2,100

Comerica

Inc

(f) 18,460

1,484

CVB

Financial

Corp

3,280

DBS

Group

Holdings

Ltd

940

Enterprise

Financial

Services

Corp

690

Fifth

Third

Bancorp

(e) 917

FinecoBank

Banca

Fineco

SpA

6,339

First

Hawaiian

Inc

2,266

First

Interstate

BancSystem

Inc

3,192

FNB

Corp/PA

3,567

Goldman

Sachs

Group

Inc/The

Home

BancShares

Inc/AR

2,467

Huntington

Bancshares

Inc/OH

JPMorgan

Chase

&

Co

(e) 1,046

KeyCorp

2,960

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Banks

(continued)

Lloyds

Banking

Group

PLC

(e) 112,061

$

M&T

Bank

Corp

(e) 682

Morgan

Stanley

846

Northern

Trust

Corp

Old

National

Bancorp/IN

2,945

Oversea-Chinese

Banking

Corp

Ltd

5,000

PNC

Financial

Services

Group

Inc/The

Prosperity

Bancshares

Inc

630

Regions

Financial

Corp

(e) 5,792

Renasant

Corp

1,053

Resona

Holdings

Inc

6,300

Seacoast

Banking

Corp

of

Florida

1,527

Simmons

First

National

Corp

3,158

Standard

Chartered

PLC

(e) 2,717

State

Street

Corp

Stellar

Bancorp

Inc

1,570

Sumitomo

Mitsui

Financial

Group

Inc

(e) 800

Sumitomo

Mitsui

Trust

Group

Inc

(e) 3,800

Truist

Financial

Corp

(e) 5,135

UniCredit

SpA

2,205

United

Community

Banks

Inc/GA

1,396

US

Bancorp

(e) 4,594

Wells

Fargo

&

Co

(e) 5,061

$

6,735

Beverages

-

0.31%

Coca-Cola

Co/The

2,849

Coca-Cola

HBC

AG

(d),(e)

1,721

Constellation

Brands

Inc

1,304

Diageo

PLC

2,022

Keurig

Dr

Pepper

Inc

(e) 14,508

Kirin

Holdings

Co

Ltd

7,900

Molson

Coors

Beverage

Co

1,118

Monster

Beverage

Corp

(d),(e)

2,614

PepsiCo

Inc

(e) 1,110

Vita

Coco

Co

Inc/The

(d) 1,366

$

1,534

Biotechnology

-

1.01%

ACADIA

Pharmaceuticals

Inc

(d) 257

ADMA

Biologics

Inc

(d) 479

Akouos

Inc

-

Contingent

Value

Rights

(d),(g)

4,410

Alnylam

Pharmaceuticals

Inc

(d),(e)

Amicus

Therapeutics

Inc

(d) 2,286

ANI

Pharmaceuticals

Inc

(d) 37

Apogee

Therapeutics

Inc

(d) 332

Arcellx

Inc

(d) 71

Arcus

Biosciences

Inc

(d) 142

Arcutis

Biotherapeutics

Inc

(d) 222

Ardelyx

Inc

(d) 493

Argenx

SE

(d) 51

Arrowhead

Pharmaceuticals

Inc

(d) 250

Aurinia

Pharmaceuticals

Inc

(d) 240

Avidity

Biosciences

Inc

(d) 18,680

1,340

Axsome

Therapeutics

Inc

(d) 263

Beam

Therapeutics

Inc

(d) 199

BioCryst

Pharmaceuticals

Inc

(d) 433

Biogen

Inc

(d),(e)

3,355

611

Biohaven

Ltd

(d) 187

BioMarin

Pharmaceutical

Inc

(d),(e)

6,196

Bridgebio

Pharma

Inc

(d) 324

Celcuity

Inc

(d) 61

Celldex

Therapeutics

Inc

(d) 837

CG

oncology

Inc

(d) 531

Cogent

Biosciences

Inc

(d) 545

Corteva

Inc

2,390

Crinetics

Pharmaceuticals

Inc

(d) 764

CRISPR

Therapeutics

AG

(d) 172

Cytokinetics

Inc

(d) 561

Denali

Therapeutics

Inc

(d) 275

Disc

Medicine

Inc

(d) 417

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Biotechnology

(continued)

Dynavax

Technologies

Corp

(d) 216

$

Dyne

Therapeutics

Inc

(d) 226

Edgewise

Therapeutics

Inc

(d) 141

Gilead

Sciences

Inc

(e) 3,414

Ideaya

Biosciences

Inc

(d) 166

Illumina

Inc

(d),(e)

Immunome

Inc

(d) 160

Immunovant

Inc

(d) 141

Incyte

Corp

(d),(e)

3,551

Inhibrx

Inc

-

Contingent

Value

Rights

(d),(g)

4,407

Innoviva

Inc

(d) 132

Insmed

Inc

(d) 324

Intellia

Therapeutics

Inc

(d) 204

Janux

Therapeutics

Inc

(d) 82

Krystal

Biotech

Inc

(d) 51

Kymera

Therapeutics

Inc

(d) 390

Ligand

Pharmaceuticals

Inc

(d) 39

Liquidia

Corp

(d) 134

Mind

Medicine

MindMed

Inc

(d) 156

Mineralys

Therapeutics

Inc

(d) 481

Novavax

Inc

(d) 312

Nuvalent

Inc

(d) 260

Nuvation

Bio

Inc

(d) 520

Praxis

Precision

Medicines

Inc

(d) 37

PTC

Therapeutics

Inc

(d) 625

Recursion

Pharmaceuticals

Inc

(d) 762

Regeneron

Pharmaceuticals

Inc

(e) 604

Revolution

Medicines

Inc

(d) 756

Royalty

Pharma

PLC

3,033

Scholar

Rock

Holding

Corp

(d) 496

Soleno

Therapeutics

Inc

(d) 267

Stoke

Therapeutics

Inc

(d) 93

Structure

Therapeutics

Inc

ADR

(d) 294

Swedish

Orphan

Biovitrum

AB

(d) 2,001

Syndax

Pharmaceuticals

Inc

(d) 175

Tarsus

Pharmaceuticals

Inc

(d) 81

Tevogen

Bio

Holdings

Inc

-

Warrants

(d) 597

—

TG

Therapeutics

Inc

(d) 300

Travere

Therapeutics

Inc

(d) 183

United

Therapeutics

Corp

(d),(e)

Vera

Therapeutics

Inc

(d) 106

Veracyte

Inc

(d) 163

Vericel

Corp

(d) 105

Viridian

Therapeutics

Inc

(d) 436

Xenon

Pharmaceuticals

Inc

(d) 158

$

4,974

Building

Materials

-

0.21%

Builders

FirstSource

Inc

(d) 353

CRH

PLC

James

Hardie

Industries

PLC

(d) 6,520

Johnson

Controls

International

plc

2,228

Masco

Corp

(e) 2,820

Mitsubishi

Electric

Corp

2,700

Modine

Manufacturing

Co

(d) 298

Mohawk

Industries

Inc

(d) 242

Trane

Technologies

PLC

(e) 445

Vulcan

Materials

Co

$

1,058

Chemicals

-

0.62%

Asahi

Kasei

Corp

(e) 13,700

Cabot

Corp

528

CF

Industries

Holdings

Inc

(e) 4,082

DuPont

de

Nemours

Inc

(e) 23,841

948

Linde

PLC

757

LyondellBasell

Industries

NV

5,325

Mativ

Holdings

Inc

2,855

Nutrien

Ltd

800

PPG

Industries

Inc

1,838

Qnity

Electronics

Inc

(e) 7,326

594

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Chemicals

(continued)

Quaker

Chemical

Corp

$

Solstice

Advanced

Materials

Inc

(d) 3,199

$

3,066

Commercial

Services

-

0.85%

Adtalem

Global

Education

Inc

(d) 382

Affirm

Holdings

Inc

(d) 1,486

Alight

Inc

13,650

Altaba

Inc

-

Escrow

(d) 837,142

1,069

Automatic

Data

Processing

Inc

(e) 841

Block

Inc

(d) 529

Booz

Allen

Hamilton

Holding

Corp

Cintas

Corp

CoreCivic

Inc

(d) 2,533

Corpay

Inc

(d),(e)

1,056

Edenred

SE

3,659

Global

Payments

Inc

(e) 3,165

Laureate

Education

Inc

(d) 3,499

Loomis

AB

1,232

Moody's

Corp

PayPal

Holdings

Inc

(e) 4,166

PROG

Holdings

Inc

1,872

Progyny

Inc

(d) 2,571

Quanta

Services

Inc

Recruit

Holdings

Co

Ltd

5,100

Remitly

Global

Inc

(d) 3,962

S&P

Global

Inc

Shift4

Payments

Inc

(d) 918

Stride

Inc

(d) 281

Toast

Inc

(d) 1,828

TOPPAN

Holdings

Inc

6,000

TransUnion

958

TriNet

Group

Inc

1,069

Upbound

Group

Inc

3,683

Verisk

Analytics

Inc

Verra

Mobility

Corp

(d) 5,312

Wolters

Kluwer

NV

1,300

$

4,213

Computers

-

1.63%

Accenture

PLC

-

Class

A

1,326

Apple

Inc

(e) 10,169

2,835

CACI

International

Inc

(d) 110

Cantaloupe

Inc

(d) 35,737

Capgemini

SE

Cognizant

Technology

Solutions

Corp

(e) 6,150

Crowdstrike

Holdings

Inc

(d) 166

CyberArk

Software

Ltd

(d) 1,662

762

Dell

Technologies

Inc

(e) 2,953

EPAM

Systems

Inc

(d) 970

ExlService

Holdings

Inc

(d) 1,396

Grid

Dynamics

Holdings

Inc

(d) 3,904

Hewlett

Packard

Enterprise

Co

(e) 8,629

HP

Inc

(e) 20,732

507

Leidos

Holdings

Inc

(e) 717

Maximus

Inc

1,118

NCR

Voyix

Corp

(d) 4,053

NEC

Corp

NetApp

Inc

1,027

NetScout

Systems

Inc

(d) 2,739

Otsuka

Corp

(e) 4,900

Pure

Storage

Inc

(d),(e)

Rubrik

Inc

(d) 576

Seagate

Technology

Holdings

PLC

943

Super

Micro

Computer

Inc

(d),(e)

838

TaskUS

Inc

(d) 12,783

Teleperformance

SE

Western

Digital

Corp

(e) 3,932

642

$

8,051

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Consumer

Products

-

0.14%

Avery

Dennison

Corp

1,535

$

Clorox

Co/The

952

Helen

of

Troy

Ltd

(d) 2,293

Kimberly-Clark

Corp

2,791

$

715

Cosmetics

&

Personal

Care

-

0.32%

Colgate-Palmolive

Co

1,291

Essity

AB

873

Haleon

PLC

16,725

Kenvue

Inc

54,482

945

Prestige

Consumer

Healthcare

Inc

(d) 102

Procter

&

Gamble

Co/The

2,143

Unilever

PLC

1,439

$

1,566

Distribution

&

Wholesale

-

0.16%

AddTech

AB

2,081

Bunzl

PLC

5,425

Fastenal

Co

2,012

LKQ

Corp

6,160

Rush

Enterprises

Inc

-

Class

A

637

Toyota

Tsusho

Corp

(e) 5,200

WW

Grainger

Inc

$

777

Diversified

Financial

Services

-

0.85%

4L

Technologies

(d),(g)

24,306

—

AerCap

Holdings

NV

1,023

Air

Lease

Corp

8,375

535

Ally

Financial

Inc

1,954

American

Express

Co

(e) 670

Ameriprise

Financial

Inc

Apollo

Global

Management

Inc

(e) 741

Blackrock

Inc

Bread

Financial

Holdings

Inc

929

Capital

One

Financial

Corp

(e) 385

Cboe

Global

Markets

Inc

Charles

Schwab

Corp/The

(e) 1,585

CME

Group

Inc

Dave

Inc

(d) 54

Element

Comm

Aviation

(d),(g),(h)

—

Enova

International

Inc

(d) 561

Evercore

Inc

-

Class

A

EZCORP

Inc

(d) 2,838

Federal

Agricultural

Mortgage

Corp

Franklin

Resources

Inc

3,370

IGM

Financial

Inc

(e) 700

Interactive

Brokers

Group

Inc

-

A

Shares

Intercontinental

Exchange

Inc

575

Invesco

Ltd

Japan

Exchange

Group

Inc

14,700

London

Stock

Exchange

Group

PLC

717

Mastercard

Inc

(e) 494

Nasdaq

Inc

671

Navient

Corp

4,324

PJT

Partners

Inc

Radian

Group

Inc

1,993

Raymond

James

Financial

Inc

(e) 2,072

Singapore

Exchange

Ltd

2,100

Synchrony

Financial

(e) 5,443

T

Rowe

Price

Group

Inc

1,037

TPG

Inc

1,282

Tradeweb

Markets

Inc

1,267

Visa

Inc

(e) 617

Voya

Financial

Inc

$

4,217

Electric

-

0.65%

ALLETE

Inc

1,954

Ameresco

Inc

(d) 4,966

CLP

Holdings

Ltd

1,500

Consolidated

Edison

Inc

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Electric

(continued)

Constellation

Energy

Corp

(e) 466

$

DTE

Energy

Co

Duke

Energy

Corp

1,613

Edison

International

(e) 3,327

Emera

Inc

2,100

Eversource

Energy

(e) 4,268

Exelon

Corp

1,501

Iberdrola

SA

3,333

Kansai

Electric

Power

Co

Inc/The

20,100

NRG

Energy

Inc

(e) 1,204

PG&E

Corp

(e) 12,748

Public

Service

Enterprise

Group

Inc

(e) 779

Sempra

1,108

Unitil

Corp

1,208

Verbund

AG

2,238

Vistra

Corp

(e) 3,110

556

$

3,220

Electrical

Components

&

Equipment

-

0.15%

ABB

Ltd

Acuity

Inc

AMETEK

Inc

Eaton

Corp

PLC

(e) 306

Emerson

Electric

Co

931

Energizer

Holdings

Inc

2,721

Generac

Holdings

Inc

(d),(e)

1,997

Prysmian

SpA

Zeo

Energy

Corp

-

Warrants

(d) 524

—

$

764

Electronics

-

1.06%

Allegion

plc

2,029

Amphenol

Corp

(e) 3,726

525

Brady

Corp

813

Celestica

Inc

(d) 232

Coherent

Corp

(d) 75

Flex

Ltd

(d) 1,094

Garmin

Ltd

Honeywell

International

Inc

(e) 11,799

2,268

Hubbell

Inc

(e) 868

Jabil

Inc

(e) 1,298

Keysight

Technologies

Inc

(d),(e)

1,246

Murata

Manufacturing

Co

Ltd

8,200

NIDEC

CORP

(e) 6,000

Sanmina

Corp

(d) 216

SCREEN

Holdings

Co

Ltd

(e) 1,100

TDK

Corp

16,900

TE

Connectivity

PLC

(e) 445

Trimble

Inc

(d) 379

TTM

Technologies

Inc

(d) 1,204

Vishay

Intertechnology

Inc

4,603

$

5,230

Energy

-

Alternate

Sources

-

0.07%

First

Solar

Inc

(d),(e)

Nextpower

Inc

(d) 813

Vestas

Wind

Systems

A/S

9,179

$

Engineering

&

Construction

-

0.35%

ACS

Actividades

de

Construccion

y

Servicios

SA

1,581

AECOM

(e) 338

Aena

SME

SA

(i) 782

Bouygues

SA

2,171

Centuri

Holdings

Inc

(d) 3,130

Eiffage

SA

EMCOR

Group

Inc

Jacobs

Solutions

Inc

(e) 1,663

Obayashi

Corp

(e) 9,700

Skanska

AB

8,446

Stantec

Inc

1,500

Vinci

SA

934

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Engineering

&

Construction

(continued)

WSP

Global

Inc

(e) 500

$

$

1,735

Entertainment

-

0.07%

DraftKings

Inc

(d) 93

Entain

PLC

9,931

Evolution

AB

(i) 1,731

Flutter

Entertainment

PLC

(d) 220

Live

Nation

Entertainment

Inc

(d) 214

Monarch

Casino

&

Resort

Inc

505

$

Environmental

Control

-

0.11%

Casella

Waste

Systems

Inc

(d) 531

Pentair

PLC

2,335

Republic

Services

Inc

Veralto

Corp

2,149

$

548

Food

-

1.06%

Campbell's

Company/The

5,705

Coles

Group

Ltd

5,646

Conagra

Brands

Inc

11,438

Empire

Co

Ltd

800

General

Mills

Inc

3,571

George

Weston

Ltd

(e) 600

Iron

Horse

Acquisitions

Corp

(d) 939

Jeronimo

Martins

SGPS

SA

1,742

Kellanova

(f) 29,468

2,465

Koninklijke

Ahold

Delhaize

NV

711

Kraft

Heinz

Co/The

30,179

770

Kroger

Co/The

1,218

Lamb

Weston

Holdings

Inc

1,831

Marks

&

Spencer

Group

PLC

(e) 4,286

Nestle

SA

2,551

Orkla

ASA

972

Saputo

Inc

9,600

Seven

&

i

Holdings

Co

Ltd

1,000

Sysco

Corp

TreeHouse

Foods

Inc

(d) 3,434

Tyson

Foods

Inc

5,897

$

5,228

Gas

-

0.06%

Centrica

PLC

(e) 16,205

New

Jersey

Resources

Corp

1,261

Southwest

Gas

Holdings

Inc

810

Spire

Inc

814

UGI

Corp

1,342

$

Hand

&

Machine

Tools

-

0.14%

Fuji

Electric

Co

Ltd

(e) 1,100

Kennametal

Inc

2,254

Makita

Corp

(e) 3,400

Snap-on

Inc

Stanley

Black

&

Decker

Inc

(e) 2,665

Techtronic

Industries

Co

Ltd

12,857

$

668

Healthcare

-

Products

-

0.95%

ABIOMED

Inc

-

Contingent

Value

Rights

(d),(g)

692

Agilent

Technologies

Inc

553

Align

Technology

Inc

(d),(e)

Allurion

Technologies

Inc

-

Warrants

(d) 931

—

Artivion

Inc

(d) 2,707

Baxter

International

Inc

(e) 12,833

Cooper

Cos

Inc/The

(d) 1,265

Danaher

Corp

584

Exact

Sciences

Corp

(d) 12,532

1,269

GE

HealthCare

Technologies

Inc

(e) 4,931

Glaukos

Corp

(d) 243

GRAIL

Inc

(d) 64

Guardant

Health

Inc

(d) 123

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Healthcare

-

Products

(continued)

Hologic

Inc

(d) 4,840

$

IDEXX

Laboratories

Inc

(d),(e)

Insulet

Corp

(d),(e)

Integra

LifeSciences

Holdings

Corp

(d) 4,030

Lantheus

Holdings

Inc

(d) 137

Lifco

AB

3,162

Medtronic

PLC

1,191

Natera

Inc

(d) 485

Omnicell

Inc

(d) 1,575

Psyence

Biomedical

Ltd

-

Warrants

(d) 974

—

ResMed

Inc

1,020

SI-BONE

Inc

(d) 3,773

Solventum

Corp

(d),(e)

2,188

STERIS

PLC

Stryker

Corp

Terumo

Corp

11,100

TransMedics

Group

Inc

(d) 372

Twist

Bioscience

Corp

(d) 122

West

Pharmaceutical

Services

Inc

(e) 195

$

4,682

Healthcare

-

Services

-

0.44%

Centene

Corp

(d),(e)

4,709

Charles

River

Laboratories

International

Inc

(d),(e)

722

DaVita

Inc

(d) 916

Elevance

Health

Inc

(e) 614

Ensign

Group

Inc/The

GeneDx

Holdings

Corp

(d) 395

HCA

Healthcare

Inc

ICON

PLC

(d) 363

IQVIA

Holdings

Inc

(d),(e)

2,370

545

PACS

Group

Inc

(d) 980

Quest

Diagnostics

Inc

UnitedHealth

Group

Inc

(e) 1,053

Universal

Health

Services

Inc

(e) 1,145

$

2,188

Holding

Companies

-

Diversified

-

2.22%

1RT

Acquisition

Corp

(d) 566

A

Paradise

Acquisition

Corp

(d) 2,060

A

Paradise

Acquisition

Corp

(d) 23,370

AA

Mission

Acquisition

Corp

(d) 10,684

AA

Mission

Acquisition

Corp

II

(d) 9,867

AA

Mission

Acquisition

Corp

II

(d) 32,000

Acropolis

Infrastructure

Acquisition

Corp

-

Escrow

(d),(g)

5,690

—

AI

Infrastructure

Acquisition

Corp

(d) 8,503

Alchemy

Investments

Acquisition

Corp

-

Warrants

(d) 3,107

—

Aldel

Financial

II

Inc

-

Warrants

(d) 3,442

AltEnergy

Acquisition

Corp

-

Warrants

(d) 449

—

Andretti

Acquisition

Corp

II

(d) 9,732

Andretti

Acquisition

Corp

II

-

Warrants

(d) 4,866

Apex

Treasury

Corp

(d) 3,103

Apex

Treasury

Corp

(d) 11,037

Archimedes

Tech

SPAC

Partners

II

Co

(d) 11,767

Archimedes

Tech

SPAC

Partners

II

Co

-

Warrants

(d) 3,231

Armada

Acquisition

Corp

II

-

Class

A

(d) 21,349

Armada

Acquisition

Corp

II

-

Warrants

(d) 1,838

Axiom

Intelligence

Acquisition

-

Class

A

(d) 10,314

Axiom

Intelligence

Acquisition

Corp

(d) 3,653

Bain

Capital

GSS

Investment

Corp

(d) 5,150

Bayview

Acquisition

Corp

(d) 3,661

BERTO

ACQUISITION

CORP

(d) 8,977

Berto

Acquisition

Corp

-

Warrants

(d) 783

—

BEST

SPAC

I

Acquisition

Corp

-

Rights

(d) 1,044

—

BEST

SPAC

I

Acquisition

Corp

(d) 1,044

Blue

Acquisition

Corp

(d) 2,589

Blue

Water

Acquisition

Corp

III

(d) 9,794

Blue

Water

Acquisition

Corp

III

(d) 10,430

BTC

Development

Corp

(d) 1,031

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Holding

Companies

-

Diversified

(continued)

Cal

Redwood

Acquisition

Corp

(d) 3,133

$

Cal

Redwood

Acquisition

Corp

-

Class

A

(d) 13,532

Calisa

Acquisition

Corp

(d) 325

Cantor

Equity

Partners

I

Inc

(d) 2,618

Cantor

Equity

Partners

III

Inc

(d) 1,045

Cantor

Equity

Partners

IV

Inc

(d) 4,125

Cantor

Equity

Partners

V

Inc

(d) 9,745

Cartesian

Growth

Corp

II

-

Warrants

(d) 781

—

CARTESIAN

GROWTH

CORP

III

-

Class

A

(d) 16,299

Cartesian

Growth

Corp

III

-

Warrants

(d) 1,034

—

Cayson

Acquisition

Corp

(d) 3,476

Cayson

Acquisition

Corp

-

Rights

(d) 3,476

Centurion

Acquisition

Corp

(d) 2

—

CERo

Therapeutics

Holdings

Inc

-

Warrants

(d) 449

—

ChampionsGate

Acquisition

Corp

(d) 1,253

Chenghe

Acquisition

III

Co

(d) 44

—

Chenghe

Acquisition

III

Co

(d) 5,671

CN

Healthy

Food

Tech

Group

Corp

-

Warrants

(d) 4,699

—

CO2

Energy

Transition

Corp

(d) 46,099

Cohen

Circle

Acquisition

Corp

II

(d) 4,403

Columbus

Circle

Capital

Corp

I

(d) 4,144

Copley

Acquisition

Corp

(d) 4,854

Copley

Acquisition

Corp

-

Warrants

(d) 1,305

—

Crown

Reserve

Acquisition

Corp

I

(d) 5,526

CSLM

Digital

Asset

Acquisition

Corp

III

Ltd

(d) 8,218

CSLM

Digital

Asset

Acquisition

Corp

III

Ltd

(d) 8,247

D

Boral

ARC

Acquisition

I

Corp

(d) 31,095

Drugs

Made

In

America

Acquisition

II

Corp

(d) 10,374

DT

Cloud

Star

Acquisition

Corp

(d) 9,612

Dune

Acquisition

Corp

II

(d) 7,632

Dune

Acquisition

Corp

II

-

Warrants

(d) 5,151

Dynamix

Corp

III

(d) 1,033

EGH

Acquisition

Corp

(d) 1,557

—

EGH

Acquisition

Corp

-

Class

A

(d) 6,777

Emmis

Acquisition

Corp

-

Rights

(d) 3,600

Emmis

Acquisition

Corp

(d) 3,600

EQV

Ventures

Acquisition

Corp

II

(d) 10,321

ESH

Acquisition

Corp

-

Rights

(d) 5,825

Eureka

Acquisition

Corp

(d) 1,047

FG

Merger

II

Corp

(d) 24,393

Fifth

Era

Acquisition

Corp

I

(d) 1,781

FIGX

Capital

Acquisition

Corp

(d) 1,776

FIGX

Capital

Acquisition

Corp

-

Class

A

(d) 2,592

Flag

Ship

Acquisition

Corp

(d) 1,087

Future

Vision

II

Acquisition

Corp

(d) 8,312

FutureCrest

Acquisition

Corp

(d) 206

Galata

Acquisition

Corp

II

(d) 3,607

Gesher

Acquisition

Corp

II

(d) 5,220

Gesher

Acquisition

Corp

II

-

Warrants

(d) 2,610

GigCapital7

Corp

(d) 1,995

GigCapital8

Corp

(d) 13,436

Globa

Terra

Acquisition

Corp

(d) 28,136

Gores

Holdings

X

Inc

(d) 10,656

GP-Act

III

Acquisition

Corp

(d) 5,138

Graf

Global

Corp

(d) 4,458

Graf

Global

Corp

-

Warrants

(d) 2,229

GSR

IV

Acquisition

Corp

(d) 13,399

Harvard

Ave

Acquisition

Corp

(d) 12,376

Haymaker

Acquisition

Corp

(d) 15,675

HCM

III

Acquisition

Corp

(d) 514

Highview

Merger

Corp

(d) 3,499

Indigo

Acquisition

Corp

(d) 5,150

Inflection

Point

Acquisition

Corp.

V

(d) 1,411

Integrated

Wellness

Acquisition

Corp

(d) 11,198

Jackson

Acquisition

Co

II

(d) 4,474

Jaws

Mustang

Acquisition

Corp

-

Warrants

(d) 4,137

—

Jena

Acquisition

Corp

II

(d) 18,921

Jena

Acquisition

Corp

II

-

Rights

(d) 8,369

K&F

Growth

Acquisition

Corp

II

(d) 5,396

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Holding

Companies

-

Diversified

(continued)

K&F

Growth

Acquisition

Corp

II

-

Rights

(d) 5,396

$

Keen

Vision

Acquisition

Corp

-

Warrants

(d) 10,678

LaFayette

Acquisition

Corp

(d) 4,167

Lake

Superior

Acquisition

Corp

(d) 4,411

Lake

Superior

Acquisition

Corp

(d) 5,264

Lakeshore

Acquisition

III

Corp

(d) 14,402

Lakeshore

Acquisition

III

Corp

-

Rights

(d) 9,177

Lightwave

Acquisition

Corp

(d) 10,284

Lightwave

Acquisition

Corp

(d) 5,154

Lionheart

Holdings

(d) 8,257

Live

Oak

Acquisition

Corp

V

(d) 11,403

Live

Oak

Acquisition

Corp

V

-

Warrants

(d) 2,350

M3-Brigade

Acquisition

VI

Corp

(d) 1,032

McKinley

Acquisition

Corp

(d) 5,150

McKinley

Acquisition

Corp

(d) 2,064

Mountain

Lake

Acquisition

Corp

(d) 19,969

Mountain

Lake

Acquisition

Corp

-

Rights

(d) 6,834

New

Providence

Acquisition

Corp

III

(d) 25,686

New

Providence

Acquisition

Corp

III

-

Warrants

(d) 8,562

Newbury

Street

II

Acquisition

Corp

(d) 17,051

Newbury

Street

II

Acquisition

Corp

-

Warrants

(d) 4,940

NewHold

Investment

Corp

III

(d) 4,537

NewHold

Investment

Corp

III

-

Warrants

(d) 2,268

NMP

Acquisition

Corp

(d) 10,313

Origin

Investment

Corp

I

(d) 5,153

OTG

Acquisition

Corp

I

(d) 2,577

Oxley

Bridge

Acquisition

Ltd

(d) 4,173

Oxley

Bridge

Acquisition

Ltd

-

Class

A

(d) 17,504

Oyster

Enterprises

II

Acquisition

Corp

(d) 5,227

Oyster

Enterprises

II

Acquisition

Corp

-

Class

A

(d) 13,934

Perimeter

Acquisition

Corp

I

(d) 3,123

Pershing

Square

Tontine

Holdings

Ltd

(d),(g)

977

—

Pershing

Square

Tontine

Holdings

Ltd

-

Escrow

(d),(g)

3,910

—

Pioneer

Acquisition

I

Corp

(d) 7,067

Pioneer

Acquisition

I

Corp

(d) 15,671

ProCap

Acquisition

Corp

(d) 1,445

ProCap

Acquisition

Corp

-

Class

A

(d) 5,080

Pyrophyte

Acquisition

Corp

II

(d) 5,154

Quantumsphere

Acquisition

Corp

(d) 5,150

Quantumsphere

Acquisition

Corp

(d) 2,062

Quartzsea

Acquisition

Corp

(d) 14,901

Real

Asset

Acquisition

Corp

(d) 4,642

Republic

Digital

Acquisition

Co

(d) 1,567

Roman

DBDR

Acquisition

Corp

II

(d) 3,871

Roman

DBDR

Acquisition

Corp

II

-

Warrants

(d) 3,134

Siddhi

Acquisition

Corp

(d) 28,907

Silver

Pegasus

Acquisition

Corp

(d) 7,216

Silver

Pegasus

Acquisition

Corp

(d) 2,623

Silverbox

Corp

IV

(d) 4,505

SIM

Acquisition

Corp

I

(d) 10,370

Sizzle

Acquisition

Corp

II

(d) 17,239

Sizzle

Acquisition

Corp

II

-

Rights

(d) 5,432

Slam

Corp

-

Warrants

(d) 6,312

—

Solarius

Capital

Acquisition

Corp

(d) 13,197

Soulpower

Acquisition

Corp

(d) 11,343

Soulpower

Acquisition

Corp

-

Rights

(d) 9,458

Spark

I

Acquisition

Corp

-

Warrants

(d) 4,233

Spring

Valley

Acquisition

Corp

II

-

Rights

(d) 601

—

Spring

Valley

Acquisition

Corp

III

(d) 4,121

Starry

Sea

Acquisition

Corp

(d) 7,731

Stellar

V

Capital

Corp

(d) 4,313

Stellar

V

Capital

Corp

-

Warrants

(d) 2,156

Target

Global

Acquisition

I

Corp

-

Warrants

(d) 1,309

—

Thayer

Ventures

Acquisition

Corp

II

(d) 5,908

Thayer

Ventures

Acquisition

Corp

II

-

Class

A

(d) 11,143

Titan

Acquisition

Corp

(d) 11,169

Titan

Acquisition

Corp

-

Warrants

(d) 5,584

Translational

Development

Acquisition

Corp

(d) 4,069

UY

Scuti

Acquisition

Corp

(d) 2,169

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Holding

Companies

-

Diversified

(continued)

UY

Scuti

Acquisition

Corp

-

Rights

(d) 2,169

$

Veea

Inc

-

Warrants

(d) 1,370

—

Vendome

Acquisition

Corp

I

(d) 10,650

Viking

Acquisition

Corp

I

(d) 1,624

Volato

Group

Inc

-

Warrants

(d) 1,728

—

Voyager

Acquisition

Corp

(d) 9,148

Voyager

Acquisition

Corp

-

Warrants

(d) 3,935

Wen

Acquisition

Corp

(d) 1,084

Wen

Acquisition

Corp

(d) 8,016

Wintergreen

Acquisition

Corp

(d) 5,151

Wintergreen

Acquisition

Corp

(d) 94

$

10,965

Home

Builders

-

0.08%

Champion

Homes

Inc

(d) 1,716

Daiwa

House

Industry

Co

Ltd

4,600

DR

Horton

Inc

(e) 396

Lennar

Corp

-

A

Shares

$

Home

Furnishings

-

0.03%

Leggett

&

Platt

Inc

6,249

MillerKnoll

Inc

3,889

Xperi

Inc

(d) 6,255

$

Insurance

-

1.36%

Admiral

Group

PLC

(e) 1,141

Aflac

Inc

540

Ageas

SA/NV

1,126

Allstate

Corp/The

(e) 1,199

American

International

Group

Inc

(e) 211

Beazley

PLC

1,312

Berkshire

Hathaway

Inc

-

Class

B

(d),(e)

867

Brown

&

Brown

Inc

3,239

Chubb

Ltd

1,116

Cincinnati

Financial

Corp

(e) 1,033

Corebridge

Financial

Inc

799

Equitable

Holdings

Inc

(e) 1,260

Everest

Group

Ltd

(e) 238

Fairfax

Financial

Holdings

Ltd

Fidelity

National

Financial

Inc

(e) 2,563

Great-West

Lifeco

Inc

2,500

Hannover

Rueck

SE

524

Hartford

Insurance

Group

Inc/The

(e) 5,786

793

Insurance

Australia

Group

Ltd

13,506

Kemper

Corp

1,452

Loews

Corp

1,777

Marsh

&

McLennan

Cos

Inc

2,493

MetLife

Inc

664

MS&AD

Insurance

Group

Holdings

Inc

(e) 8,500

NN

Group

NV

1,731

ProAssurance

Corp

(d),(f)

44,703

1,076

Progressive

Corp/The

1,000

Prudential

PLC

(e) 11,177

QBE

Insurance

Group

Ltd

811

Sampo

Oyj

2,069

SiriusPoint

Ltd

(d) 2,317

Swiss

Re

AG

Talanx

AG

2,441

W

R

Berkley

Corp

2,637

Willis

Towers

Watson

PLC

$

6,731

Internet

-

2.31%

Airbnb

Inc

(d) 593

Alphabet

Inc

-

A

Shares

(e) 9,413

3,015

Alphabet

Inc

-

C

Shares

Amazon.com

Inc

(d),(e)

9,265

2,160

AppLovin

Corp

(d),(e)

Booking

Holdings

Inc

(e) 103

506

CDW

Corp/DE

(e) 571

DoorDash

Inc

-

Class

A

(d) 229

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Internet

(continued)

eBay

Inc

(e) 3,344

$

Expedia

Group

Inc

(e) 2,049

525

F5

Inc

(d),(e)

1,324

Gen

Digital

Inc

(e) 22,562

595

GIBO

Holdings

Ltd

-

Warrants

(d) 1,119

—

GoDaddy

Inc

(d) 2,229

Grab

Holdings

Ltd

(d) 37,485

Hims

&

Hers

Health

Inc

(d) 319

IAC

Inc

(d) 8,800

LY

Corp

(e) 62,700

Magnite

Inc

(d) 5,111

Match

Group

Inc

3,821

MercadoLibre

Inc

(d),(e)

Meta

Platforms

Inc

(e) 1,489

965

Netflix

Inc

(d),(e)

7,021

755

Pinterest

Inc

(d) 731

Rakuten

Group

Inc

(d) 11,200

Reddit

Inc

(d) 412

Robinhood

Markets

Inc

(d) 299

Shopify

Inc

(d) 500

Shopify

Inc

(d) 182

Spotify

Technology

SA

(d) 173

Uber

Technologies

Inc

(d) 369

VeriSign

Inc

641

Zillow

Group

Inc

-

C

Shares

(d) 618

$

11,403

Investment

Companies

-

0.03%

EXOR

NV

HA

Sustainable

Infrastructure

Capital

Inc

1,072

Sofina

SA

$

Iron

&

Steel

-

0.06%

Fortescue

Ltd

13,646

Reliance

Inc

$

Leisure

Products

&

Services

-

0.10%

Carnival

Corp

(d),(e)

12,946

Life

Time

Group

Holdings

Inc

(d) 3,267

Malibu

Boats

Inc

(d) 1,988

Royal

Caribbean

Cruises

Ltd

$

Lodging

-

0.16%

Galaxy

Entertainment

Group

Ltd

7,000

Hyatt

Hotels

Corp

InterContinental

Hotels

Group

PLC

Las

Vegas

Sands

Corp

(e) 3,717

Marriott

International

Inc/MD

733

Wynn

Resorts

Ltd

1,006

$

769

Machinery

-

Construction

&

Mining

-

0.17%

Bloom

Energy

Corp

(d) 148

Caterpillar

Inc

(e) 760

GE

Vernova

Inc

(e) 355

Sandvik

AB

781

Vertiv

Holdings

Co

771

$

829

Machinery

-

Diversified

-

0.30%

Applied

Industrial

Technologies

Inc

Cactus

Inc

CNH

Industrial

NV

(e) 3,872

Daifuku

Co

Ltd

(e) 1,100

Deere

&

Co

Dover

Corp

536

DXP

Enterprises

Inc/TX

(d) 259

Ichor

Holdings

Ltd

(d) 2,914

Nordson

Corp

Otis

Worldwide

Corp

(e) 1,415

Rockwell

Automation

Inc

(e) 1,228

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Machinery

-

Diversified

(continued)

Wartsila

OYJ

Abp

5,639

$

Xylem

Inc/NY

(e) 851

Zurn

Elkay

Water

Solutions

Corp

1,377

$

1,474

Media

-

1.83%

Charter

Communications

Inc

(d),(e)

Comcast

Corp

-

Class

A

(e) 8,073

Endeavor

Group

Holdings

Inc

(g) 137,899

3,792

FactSet

Research

Systems

Inc

(e) 1,199

Fox

Corp

-

A

Shares

(e) 2,584

Liberty

Broadband

Corp

-

A

Shares

(d),(f)

14,551

674

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d) 877

News

Corp

-

A

Shares

2,627

Optimum

Communications

Inc

(d) 22,876

TEGNA

Inc

26,844

524

Walt

Disney

Co/The

(e) 4,389

Warner

Bros

Discovery

Inc

(d),(f)

109,900

2,638

$

9,022

Metal

Fabrication

&

Hardware

-

0.03%

Xometry

Inc

(d) 2,519

Mining

-

1.30%

Alamos

Gold

Inc

3,400

Barrick

Mining

Corp

(e) 13,355

558

First

Quantum

Minerals

Ltd

(d),(e)

3,400

Franco-Nevada

Corp

(e) 1,200

Freeport-McMoRan

Inc

(e) 9,241

Kaiser

Aluminum

Corp

1,530

Lundin

Mining

Corp

(e) 13,682

MP

Materials

Corp

(d) 200

New

Gold

Inc

(d) 74,641

623

Newmont

Corp

(e) 4,143

Norsk

Hydro

ASA

26,835

Northern

Star

Resources

Ltd

6,619

Pan

American

Silver

Corp

–

Rights

(d) 24,592

Pan

American

Silver

Corp

(e) 3,300

South32

Ltd

86,749

Teck

Resources

Ltd

(f) 68,867

2,954

$

6,434

Miscellaneous

Manufacturers

-

0.16%

A

O

Smith

Corp

(e) 2,991

Alfa

Laval

AB

Axon

Enterprise

Inc

(d) 66

Fabrinet

(d) 73

Illinois

Tool

Works

Inc

545

Parker-Hannifin

Corp

(e) 25

Sturm

Ruger

&

Co

Inc

1,503

Textron

Inc

(e) 3,966

$

814

Office

&

Business

Equipment

-

0.06%

Zebra

Technologies

Corp

(d),(e)

1,093

Oil

&

Gas

-

0.78%

APA

Corp

(e) 15,367

ARC

Resources

Ltd

(e) 4,000

Canadian

Natural

Resources

Ltd

1,850

Cenovus

Energy

Inc

3,500

ConocoPhillips

931

Devon

Energy

Corp

(e) 11,306

ENEOS

Holdings

Inc

28,500

Equinor

ASA

2,932

Exxon

Mobil

Corp

2,417

Galp

Energia

SGPS

SA

14,083

Idemitsu

Kosan

Co

Ltd

7,300

Inpex

Corp

6,100

Neste

Oyj

5,856

Occidental

Petroleum

Corp

(e) 7,382

Phillips

(e) 1,403

Repsol

SA

14,214

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Oil

&

Gas

(continued)

Shell

PLC

3,675

$

TotalEnergies

SE

1,008

Valero

Energy

Corp

(e) 3,692

652

Viper

Energy

Inc

879

$

3,849

Oil

&

Gas

Services

-

0.13%

Atlas

Energy

Solutions

Inc

5,575

Baker

Hughes

Co

845

DNOW

Inc

(d) 6,204

Halliburton

Co

(e) 8,256

Helix

Energy

Solutions

Group

Inc

(d) 6,083

Select

Water

Solutions

Inc

5,924

SLB

Ltd

3,294

Tidewater

Inc

(d) 605

$

646

Packaging

&

Containers

-

0.16%

Ball

Corp

CCL

Industries

Inc

1,300

Greif

Inc

-

Class

A

832

Packaging

Corp

of

America

Smurfit

WestRock

PLC

(e) 15,163

541

Sonoco

Products

Co

1,108

$

773

Pharmaceuticals

-

1.40%

AbbVie

Inc

(e) 2,155

Agios

Pharmaceuticals

Inc

(d) 117

Alkermes

PLC

(d) 336

Amneal

Pharmaceuticals

Inc

(d) 314

Astellas

Pharma

Inc

(e) 20,500

AstraZeneca

PLC

(e) 543

AstraZeneca

PLC

ADR

1,050

Becton

Dickinson

&

Co

Bristol-Myers

Squibb

Co

(e) 18,966

933

Cardinal

Health

Inc

1,357

Catalyst

Pharmaceuticals

Inc

(d) 240

Cencora

Inc

Cidara

Therapeutics

Inc

(d) 32

Collegium

Pharmaceutical

Inc

(d) 67

CVS

Health

Corp

(e) 2,606

Daiichi

Sankyo

Co

Ltd

(e) 6,500

Dexcom

Inc

(d),(e)

1,880

Eli

Lilly

&

Co

(e) 507

546

Grifols

SA

13,014

GSK

PLC

(e) 5,318

Guardian

Pharmacy

Services

Inc

(d) 971

Harmony

Biosciences

Holdings

Inc

(d) 90

Harrow

Inc

(d) 66

Hikma

Pharmaceuticals

PLC

5,245

Indivior

PLC

(d) 251

Johnson

&

Johnson

(e) 1,617

Madrigal

Pharmaceuticals

Inc

(d) 39

MannKind

Corp

(d) 631

McKesson

Corp

(e) 164

Merck

&

Co

Inc

(e) 4,848

508

Merus

NV

(d) 775

Mirum

Pharmaceuticals

Inc

(d) 83

Neurocrine

Biosciences

Inc

(d),(e)

1,679

Novartis

AG

862

Ocular

Therapeutix

Inc

(d) 291

Orion

Oyj

1,956

Otsuka

Holdings

Co

Ltd

3,200

Pacira

BioSciences

Inc

(d) 1,571

Pfizer

Inc

(e) 24,684

635

Protagonist

Therapeutics

Inc

(d) 463

Recordati

Industria

Chimica

e

Farmaceutica

SpA

Rhythm

Pharmaceuticals

Inc

(d) 108

Sanofi

SA

763

Sanofi

SA

ADR

1,446

Spyre

Therapeutics

Inc

(d) 104

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Pharmaceuticals

(continued)

Supernus

Pharmaceuticals

Inc

(d) 112

$

Teva

Pharmaceutical

Industries

Ltd

ADR

(d) 3,380

Vaxcyte

Inc

(d) 606

Viatris

Inc

7,198

Xeris

Biopharma

Holdings

Inc

(d) 317

Zoetis

Inc

(e) 1,165

$

6,896

Pipelines

-

0.15%

Cheniere

Energy

Inc

(e) 702

Excelerate

Energy

Inc

2,578

Keyera

Corp

(e) 3,700

Kinder

Morgan

Inc

(e) 4,888

Southcross

Holdings

(d),(g)

615,976

—

Sunococorp

LLC

(d) 2,859

Targa

Resources

Corp

(e) 465

Williams

Cos

Inc/The

$

728

Private

Equity

-

0.07%

Blackstone

Inc

(e) 1,055

KKR

&

Co

Inc

1,724

$

Real

Estate

-

0.13%

CBRE

Group

Inc

(d) 328

CFLD

Cayman

Investment

Ltd

Unit

Trust

(d) 233,812

LEG

Immobilien

SE

1,798

Marcus

&

Millichap

Inc

1,354

Sunac

China

Holdings

Ltd

(d) 8,540

Vonovia

SE

12,530

Wharf

Real

Estate

Investment

Co

Ltd

6,000

Yuzhou

Group

Holdings

Co

Ltd

(d) 45,339

$

630

REITs

-

0.66%

American

Healthcare

REIT

Inc

1,672

American

Tower

Corp

AvalonBay

Communities

Inc

989

CapitaLand

Ascendas

REIT

79,100

CareTrust

REIT

Inc

2,015

Crown

Castle

Inc

(e) 1,507

Digital

Realty

Trust

Inc

(e) 2,475

EPR

Properties

1,047

Equinix

Inc

Extra

Space

Storage

Inc

Goodman

Group

1,934

Macerich

Co/The

3,816

Mid-America

Apartment

Communities

Inc

864

National

Storage

Affiliates

Trust

1,845

Pebblebrook

Hotel

Trust

5,423

Phillips

Edison

&

Co

Inc

1,352

Piedmont

Realty

Trust

Inc

6,442

Prologis

Inc

1,106

Realty

Income

Corp

1,901

Rithm

Capital

Corp

4,084

Simon

Property

Group

Inc

951

Stockland

30,770

Sun

Communities

Inc

597

UDR

Inc

1,400

Ventas

Inc

2,747

VICI

Properties

Inc

(e) 11,814

Welltower

Inc

(e) 1,229

$

3,272

Retail

-

0.81%

Advance

Auto

Parts

Inc

1,083

American

Eagle

Outfitters

Inc

3,548

AutoZone

Inc

(d) 10

Avolta

AG

3,066

Bath

&

Body

Works

Inc

9,126

Best

Buy

Co

Inc

(e) 1,884

Boot

Barn

Holdings

Inc

(d) 324

Carvana

Co

(d) 127

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Retail

(continued)

Chipotle

Mexican

Grill

Inc

(d),(e)

932

$

CK

Hutchison

Holdings

Ltd

5,000

Costco

Wholesale

Corp

Cracker

Barrel

Old

Country

Store

Inc

793

Darden

Restaurants

Inc

1,050

Dick's

Sporting

Goods

Inc

641

Dollar

General

Corp

1,799

Dollar

Tree

Inc

(d),(e)

3,269

Five

Below

Inc

(d) 290

Freshpet

Inc

(d) 436

Genuine

Parts

Co

Home

Depot

Inc/The

609

Industria

de

Diseno

Textil

SA

1,011

JD

Sports

Fashion

PLC

63,910

Kingfisher

PLC

5,454

Lowe's

Cos

Inc

(e) 899

McDonald's

Corp

796

MSC

Industrial

Direct

Co

Inc

667

Ollie's

Bargain

Outlet

Holdings

Inc

(d) 345

Pandora

A/S

Signet

Jewelers

Ltd

665

Target

Corp

(e) 2,744

TJX

Cos

Inc/The

2,460

Ulta

Beauty

Inc

(d) 408

Wesfarmers

Ltd

650

Yum!

Brands

Inc

(e) 1,660

$

3,984

Savings

&

Loans

-

0.01%

WSFS

Financial

Corp

774

Semiconductors

-

2.12%

Advanced

Micro

Devices

Inc

(d),(e)

1,029

Advantest

Corp

(e) 500

Analog

Devices

Inc

(e) 747

Applied

Materials

Inc

(e) 2,133

538

ARM

Holdings

PLC

ADR

(d) 736

ASM

International

NV

ASML

Holding

NV

ASML

Holding

NV

-

NY

Reg

Shares

Broadcom

Inc

(e) 5,375

2,166

Lam

Research

Corp

(e) 5,153

804

Marvell

Technology

Inc

548

Microchip

Technology

Inc

(e) 2,283

Micron

Technology

Inc

1,187

MKS

Inc

NVIDIA

Corp

(e) 20,747

3,672

NXP

Semiconductors

NV

ON

Semiconductor

Corp

(d),(e)

6,719

Power

Integrations

Inc

1,460

QUALCOMM

Inc

(e) 2,776

Silicon

Motion

Technology

Corp

ADR

654

SiTime

Corp

(d) 286

Skyworks

Solutions

Inc

(e) 6,658

Taiwan

Semiconductor

Manufacturing

Co

Ltd

ADR

Teradyne

Inc

(e) 876

Texas

Instruments

Inc

711

Tower

Semiconductor

Ltd

(d) 1,305

$

10,443

Shipbuilding

-

0.07%

Huntington

Ingalls

Industries

Inc

560

Yangzijiang

Shipbuilding

Holdings

Ltd

68,400

$

Software

-

1.99%

Adeia

Inc

3,666

Adobe

Inc

(d),(e)

1,359

Agilysys

Inc

(d) 291

Amplitude

Inc

(d) 3,234

Atlassian

Corp

(d) 138

AvePoint

Inc

(d) 3,723

Broadridge

Financial

Solutions

Inc

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Software

(continued)

Clearwater

Analytics

Holdings

Inc

(d) 3,727

$

Cloudflare

Inc

(d),(e)

Commvault

Systems

Inc

(d) 219

Constellation

Software

Inc/Canada

-

Warrants

(d),(g)

—

Dayforce

Inc

(d) 477

Dynatrace

Inc

(d) 1,689

Electronic

Arts

Inc

(e),(f)

15,450

3,122

Fiserv

Inc

(d),(e)

3,469

Freshworks

Inc

(d) 2,831

Genius

Sports

Ltd

(d) 5,039

iLearningEngines

Holdings

Inc

-

Warrants

(d) 1,824

—

Intapp

Inc

(d) 1,074

Intuit

Inc

IonQ

Inc

(d) 233

Konami

Group

Corp

(e) 1,000

LeddarTech

Holdings

Inc

-

Warrants

(d) 2,297

—

Microsoft

Corp

(e) 5,683

2,797

Nutanix

Inc

(d) 591

Oracle

Corp

(e) 1,712

Palantir

Technologies

Inc

(d),(e)

1,725

Paychex

Inc

(e) 2,877

PTC

Inc

(d),(e)

2,597

RingCentral

Inc

(d) 1,729

ROBLOX

Corp

(d) 227

Roper

Technologies

Inc

530

Salesforce

Inc

969

SAP

SE

ADR

ServiceNow

Inc

(d) 40

ServiceTitan

Inc

(d) 173

Snowflake

Inc

-

Class

A

(d),(e)

Strategy

Inc

(d) 614

Synopsys

Inc

(d) 118

Veeva

Systems

Inc

(d) 244

Veradigm

Inc

(d) 7,366

$

9,824

Telecommunications

-

0.56%

A10

Networks

Inc

3,393

Arista

Networks

Inc

(d),(e)

1,256

AT&T

Inc

(e) 8,034

Calix

Inc

(d) 924

Cisco

Systems

Inc

(e) 5,843

Corning

Inc

(e) 1,839

Credo

Technology

Group

Holding

Ltd

(d) 305

Deutsche

Telekom

AG

7,681

Frontier

Communications

Parent

Inc

(d) 6,261

HKT

Trust

&

HKT

Ltd

13,000

KDDI

Corp

(e) 4,000

Nokia

OYJ

10,948

Telefonaktiebolaget

LM

Ericsson

18,981

Telenor

ASA

3,839

T-Mobile

US

Inc

(e) 1,423

Verizon

Communications

Inc

(e) 7,125

Vodafone

Group

PLC

(e) 115,888

$

2,755

Toys,

Games

&

Hobbies

-

0.02%

Hasbro

Inc

1,228

Nintendo

Co

Ltd

$

Transportation

-

1.45%

AP

Moller

-

Maersk

A/S

-

B

Central

Japan

Railway

Co

7,000

CH

Robinson

Worldwide

Inc

CSX

Corp

(f) 72,236

2,554

Expeditors

International

of

Washington

Inc

(e) 622

FedEx

Corp

834

InPost

SA

(d) 2,022

JB

Hunt

Transport

Services

Inc

(e) 2,282

Knight-Swift

Transportation

Holdings

Inc

1,009

Nippon

Yusen

KK

(e) 600

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Transportation

(continued)

Norfolk

Southern

Corp

(f) 9,653

$

2,820

Ryder

System

Inc

SITC

International

Holdings

Co

Ltd

49,000

TFI

International

Inc

600

Union

Pacific

Corp

United

Parcel

Service

Inc

(e) 3,240

$

7,161

Water

-

0.05%

United

Utilities

Group

PLC

(e) 15,281

TOTAL

COMMON

STOCKS

$

177,189

CONVERTIBLE

PREFERRED

STOCKS

-

0.02%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0.01%

Boeing

Co/The

6.00%,

10/15/2027

879

$

Diversified

Financial

Services

-

0.00%

Apollo

Global

Management

Inc

6.75%,

07/31/2026

Electric

-

0.00%

PG&E

Corp

6.00%,

12/01/2027

Pipelines

-

0.01%

Southcross

Energy

Series

A

0.00%

(d),(g)

2,399,339

TOTAL

CONVERTIBLE

PREFERRED

STOCKS

$

PREFERRED

STOCKS

-

0.20%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

0.02%

Porsche

Automobil

Holding

SE

1.91%

1,743

$

Electronics

-

0.01%

Sartorius

AG

0.74%

Finance

-

Mortgage

Loan/Banker

-

0.11%

Fannie

Mae

0.00%,

01/01/2026

(d),(j)

37,200

Month

USD

LIBOR

+

0.75%

Freddie

Mac

-

Series

Z

0.00%,

12/31/2027

(d),(j)

4,504

$

523

REITs

-

0.06%

City

Office

REIT

Inc

6.63%,

01/01/2026

(j) 12,400

TOTAL

PREFERRED

STOCKS

$

962

BONDS

-

31.55%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

0.41%

Boeing

Co/The

3.63%,

02/01/2031

$

$

5.71%,

05/01/2040

5.81%,

05/01/2050

5.93%,

05/01/2060

6.53%,

05/01/2034

6.86%,

05/01/2054

7.01%,

05/01/2064

Czechoslovak

Group

AS

6.50%,

01/10/2031

(i) 400

6.50%,

01/10/2031

600

618

$

2,042

Agriculture

-

0.08%

Cargill

Inc

4.66%,

02/11/2028

(i) 320

Secured

Overnight

Financing

Rate

+

0.61%

JBS

USA

LUX

Sarl

/

JBS

USA

Food

Co

/

JBS

USA

Foods

Group

5.95%,

04/20/2035

(i) 55

$

Airlines

-

0.18%

Azul

Secured

Finance

LLP

0.00%,

PIK

15.00%;

02/27/2026

(i),(k),(l)

748

761

United

Airlines

2019-2

Class

B

Pass

Through

Trust

3.50%,

11/01/2029

$

884

Automobile

Asset

Backed

Securities

-

0.60%

American

Credit

Acceptance

Receivables

Trust

2023-4

7.65%,

09/12/2030

(i) 100

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

(continued)

American

Credit

Acceptance

Receivables

Trust

2025-1

5.54%,

08/12/2031

(i) $

$

Avis

Budget

Rental

Car

Funding

AESOP

LLC

2.13%,

08/20/2027

(i) 350

5.58%,

12/20/2030

(i) 120

7.24%,

06/20/2029

(i) 100

Bridgecrest

Lending

Auto

Securitization

Trust

2024-2

6.30%,

02/15/2030

Carmax

Select

Receivables

Trust

2025-B

5.33%,

07/15/2031

Carvana

Auto

Receivables

Trust

2021-N4

2.30%,

09/11/2028

Carvana

Auto

Receivables

Trust

2024-N1

5.80%,

05/10/2030

(i) 15

Drive

Auto

Receivables

Trust

2024-1

5.43%,

11/17/2031

Drive

Auto

Receivables

Trust

2025-2

4.90%,

12/15/2032

DT

Auto

Owner

Trust

2022-2

5.46%,

03/15/2028

(i) 125

DT

Auto

Owner

Trust

2023-2

6.62%,

02/15/2029

(i) 115

DT

Auto

Owner

Trust

2023-3

7.12%,

05/15/2029

(i) 100

Exeter

Automobile

Receivables

Trust

2023-2

6.32%,

08/15/2029

Exeter

Automobile

Receivables

Trust

2023-5

7.13%,

02/15/2030

Exeter

Automobile

Receivables

Trust

2024-5

5.06%,

02/18/2031

FHF

Issuer

Trust

2025-1

4.92%,

02/15/2031

(i) 67

FHF

Issuer

Trust

2025-2

5.75%,

05/15/2030

(i) 125

First

Investors

Auto

Owner

Trust

2025-1

5.22%,

12/15/2033

(i) 25

Flagship

Credit

Auto

Trust

2023-3

6.58%,

08/15/2029

(i) 45

Ford

Credit

Auto

Lease

Trust

2023-B

6.97%,

06/15/2028

GLS

Auto

Receivables

Issuer

Trust

2023-4

7.18%,

08/15/2029

(i) 110

GLS

Auto

Receivables

Issuer

Trust

2024-1

5.95%,

12/17/2029

(i) 25

GLS

Auto

Select

Receivables

Trust

2024-2

5.93%,

06/17/2030

(i) 15

LAD

Auto

Receivables

Trust

2023-4

6.76%,

03/15/2029

(i) 50

Prestige

Auto

Receivables

Trust

2021-1

2.08%,

02/15/2028

(i) 164

Santander

Drive

Auto

Receivables

Trust

2024-3

5.97%,

10/15/2031

Westlake

Automobile

Receivables

Trust

2023-3

6.47%,

03/15/2029

(i) 100

Westlake

Automobile

Receivables

Trust

2023-4

7.19%,

07/16/2029

(i) 110

Westlake

Automobile

Receivables

Trust

2024-1

5.65%,

02/15/2029

(i) 35

6.02%,

10/15/2029

(i) 90

Westlake

Automobile

Receivables

Trust

2024-2

5.91%,

04/15/2030

(i) 25

Westlake

Automobile

Receivables

Trust

2025-1

5.54%,

11/15/2030

(i) 100

$

2,959

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Automobile

Manufacturers

-

0.17%

Allison

Transmission

Inc

3.75%,

01/30/2031

(i) $

$

American

Honda

Finance

Corp

4.45%,

10/22/2027

Toyota

Motor

Credit

Corp

4.35%,

10/08/2027

$

862

Automobile

Parts

&

Equipment

-

0.03%

ZF

North

America

Capital

Inc

6.88%,

04/23/2032

(i) 150

Banks

-

1.97%

Bank

of

America

Corp

3.85%,

03/08/2037

(m) 15

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

BBVA

Mexico

SA

Institucion

De

Banca

Multiple

Grupo

Financiero

BBVA

Mexico/TX

5.13%,

01/18/2033

(m),(n)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

7.63%,

02/11/2035

(i),(m),(n)

700

734

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.38%

BOI

Finance

BV

7.50%,

02/16/2027

EUR

725

863

BSF

Finance

5.76%,

09/03/2035

(m) $

675

673

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.00%

Commonwealth

Bank

of

Australia/New

York

NY

4.58%,

11/27/2026

5.32%,

03/13/2026

Ipoteka-Bank

ATIB

6.45%,

10/09/2030

Israel

Discount

Bank

Ltd

5.38%,

01/26/2028

(i) 275

Morgan

Stanley

2.48%,

09/16/2036

(m) 290

Secured

Overnight

Financing

Rate

+

1.36%

4.89%,

10/22/2036

(m) 70

Secured

Overnight

Financing

Rate

+

1.31%

National

Bank

of

Uzbekistan

7.20%,

07/17/2030

8.50%,

07/05/2029

PNC

Bank

NA

4.78%,

01/15/2027

(m) 320

Secured

Overnight

Financing

Rate

+

0.50%

Riyad

Sukuk

Ltd

6.21%,

07/14/2035

(m) 675

688

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.25%

Saudi

Awwal

Bank

5.95%,

09/04/2035

(m) 400

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.20%

SNB

Sukuk

Ltd

5.94%,

07/18/2036

(m) 500

508

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.85%

Societe

Generale

SA

5.44%,

10/03/2036

(i),(m)

Secured

Overnight

Financing

Rate

+

1.73%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Standard

Chartered

PLC

7.00%,

11/14/2035

(i),(j),(m),(n)

$

$

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.87%

7.63%,

01/16/2032

(i),(j),(m),(n)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.02%

State

Street

Bank

&

Trust

Co

4.59%,

11/25/2026

State

Street

Corp

4.33%,

10/22/2027

UBS

Group

AG

5.58%,

05/09/2036

(i),(m)

Secured

Overnight

Financing

Rate

+

1.76%

5.62%,

09/13/2030

(i),(m)

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

1.34%

5.70%,

02/08/2035

(i),(m)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.77%

6.60%,

08/05/2030

(i),(j),(m),(n)

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.12%

US

Bank

NA/Cincinnati

OH

4.51%,

10/22/2027

(m) 395

Secured

Overnight

Financing

Rate

+

0.69%

Wells

Fargo

&

Co

4.89%,

09/15/2036

(m) 180

Secured

Overnight

Financing

Rate

+

1.34%

$

9,712

Building

Materials

-

0.26%

Amrize

Finance

US

LLC

5.40%,

04/07/2035

(i) 75

Builders

FirstSource

Inc

6.75%,

05/15/2035

(i) 13

Cemex

SAB

de

CV

5.13%,

06/08/2026

(i),(j),(m)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.53%

CRH

America

Finance

Inc

5.00%,

02/09/2036

JH

North

America

Holdings

Inc

5.88%,

01/31/2031

(i) 80

6.13%,

07/31/2032

(i) 114

Limak

Cimento

Sanayi

ve

Ticaret

AS

9.75%,

07/25/2029

Quikrete

Holdings

Inc

6.38%,

03/01/2032

(i) 155

$

1,289

Chemicals

-

0.12%

Braskem

Idesa

SAPI

0.00%,

11/15/2029

(d) 400

6.99%,

02/20/2032

Chemours

Co/The

5.75%,

11/15/2028

(i) 22

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV

Inc

9.00%,

07/01/2028

(i) 129

Solstice

Advanced

Materials

Inc

5.63%,

09/30/2033

(i) 80

$

593

Commercial

Mortgage

Backed

Securities

-

0.59%

BPR

Trust

2021-NRD

9.58%,

12/15/2038

(i) 20

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.62%

10.83%,

12/15/2038

(i) 140

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

6.87%

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

(continued)

BPR

Trust

2022-SSP

6.96%,

05/15/2039

(i) $

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

BX

Trust

2025-VLT6

5.40%,

03/15/2042

(i) 295

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.44%

BX

Trust

2025-VLT7

5.66%,

07/15/2044

(i) 100

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.70%

5.96%,

07/15/2044

(i) 100

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Citigroup

Commercial

Mortgage

Trust

2014-GC21

4.87%,

05/10/2047

(i),(k)

COMM

2012-CCRE3

Mortgage

Trust

3.92%,

10/15/2045

(i) 104

CSMC

2014-USA

OA

LLC

4.37%,

09/15/2037

(i) 1,055

822

DC

Commercial

Mortgage

Trust

2023-DC

7.38%,

09/12/2040

(i),(k)

LEX

2024-BBG

Mortgage

Trust

5.04%,

10/13/2033

(i),(k)

Morgan

Stanley

Capital

I

Trust

2011-C2

5.39%,

06/15/2044

(i),(k)

Starwood

Retail

Property

Trust

2014-STAR

0.00%,

11/15/2027

(d),(i)

—

1.00 x

Prime

Rate

+

0.00%

0.00%,

11/15/2027

(d),(i)

645

—

1.00 x

Prime

Rate

+

0.00%

Wells

Fargo

Commercial

Mortgage

Trust

2013-LC12

3.91%,

07/15/2046

(k) 7

Wells

Fargo

Commercial

Mortgage

Trust

2016-C36

4.25%,

11/15/2059

(k) 100

WFRBS

Commercial

Mortgage

Trust

2011-C3

6.05%,

03/15/2044

(i),(k)

WFRBS

Commercial

Mortgage

Trust

2011-C4

5.15%,

06/15/2044

(i),(k)

522

505

WFRBS

Commercial

Mortgage

Trust

2014-C20

4.38%,

05/15/2047

$

2,918

Commercial

Services

-

0.10%

Mobius

Merger

Sub

Inc

9.00%,

06/01/2030

(i) 95

TriNet

Group

Inc

3.50%,

03/01/2029

(i) 70

United

Rentals

North

America

Inc

5.38%,

11/15/2033

(i),(o)

6.13%,

03/15/2034

(i) 165

$

Computers

-

0.03%

NetApp

Inc

5.50%,

03/17/2032

5.70%,

03/17/2035

$

Diversified

Financial

Services

-

0.57%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

5.38%,

12/15/2031

Aircastle

Ltd

5.95%,

02/15/2029

(i) 55

6.50%,

07/18/2028

(i) 145

Aviation

Capital

Group

LLC

4.80%,

10/24/2030

(i) 95

6.75%,

10/25/2028

(i) 210

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Diversified

Financial

Services

(continued)

Avolon

Holdings

Funding

Ltd

5.38%,

05/30/2030

(i) $

$

BGC

Group

Inc

6.15%,

04/02/2030

Blue

Owl

Finance

LLC

6.25%,

04/18/2034

Brookfield

Asset

Management

Ltd

5.80%,

04/24/2035

Capital

One

Financial

Corp

5.20%,

09/11/2036

(m) 65

Secured

Overnight

Financing

Rate

+

1.63%

Citadel

LP

6.00%,

01/23/2030

(i) 35

6.38%,

01/23/2032

(i) 25

CS

Treasury

Management

Services

P

Ltd

9.00%,

06/05/2026

(i),(j)

Eagle

Funding

Luxco

Sarl

5.50%,

08/17/2030

(i) 700

711

Freedom

Mortgage

Holdings

LLC

7.88%,

04/01/2033

(i) 55

8.38%,

04/01/2032

(i) 10

9.13%,

05/15/2031

(i) 20

Jefferies

Financial

Group

Inc

6.20%,

04/14/2034

Macquarie

Airfinance

Holdings

Ltd

5.15%,

03/17/2030

(i) 35

5.20%,

03/27/2028

(i) 85

Osaic

Holdings

Inc

6.75%,

08/01/2032

(i) 40

SOCAR

Turkey

Enerji

AS

via

Steas

Funding

DAC

7.23%,

03/17/2026

Synchrony

Financial

5.02%,

07/29/2029

(m) 80

Secured

Overnight

Financing

Rate

+

1.40%

5.45%,

03/06/2031

(m) 55

Secured

Overnight

Financing

Rate

+

1.68%

$

2,832

Electric

-

0.52%

Comision

Federal

de

Electricidad

5.00%,

09/29/2036

Eastern

European

Electric

Co

BV

6.50%,

05/15/2030

(i) EUR

6.50%,

05/15/2030

Energo

-

Pro

as

8.00%,

05/27/2030

(i) 625

766

Energuate

Trust

6.35%,

09/15/2035

(i) $

Pacific

Gas

and

Electric

Co

6.40%,

06/15/2033

Saavi

Energia

Sarl

8.88%,

02/10/2035

(i) 800

860

Vistra

Operations

Co

LLC

5.25%,

10/15/2035

(i) 25

$

2,589

Electronics

-

0.08%

Imola

Merger

Corp

4.75%,

05/15/2029

(i) 14

Sensata

Technologies

Inc

3.75%,

02/15/2031

(i) 190

TD

SYNNEX

Corp

5.30%,

10/10/2035

6.10%,

04/12/2034

$

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Energy

-

Alternate

Sources

-

0.12%

FS

Luxembourg

Sarl

8.63%,

06/25/2033

(i) $

$

8.88%,

02/12/2031

(i) 150

8.88%,

02/12/2031

$

566

Engineering

&

Construction

-

0.61%

ATP

Tower

Holdings

/

Andean

Telecom

Partners

Chile

SpA

/

Andean

Tower

Partners

Colombia

SAS

7.88%,

02/03/2030

(i) 600

617

HTA

Group

Ltd/Mauritius

7.50%,

06/04/2029

(i) 375

IHS

Holding

Ltd

7.88%,

05/29/2030

(i) 475

7.88%,

05/29/2030

IHS

Netherlands

Holdco

BV

8.00%,

09/18/2027

Kingston

Airport

Revenue

Finance

Ltd

6.75%,

12/15/2036

(i) 400

Sitios

Latinoamerica

SAB

de

CV

6.00%,

11/25/2029

(i) 600

620

$

3,014

Entertainment

-

0.03%

Warnermedia

Holdings

Inc

4.28%,

03/15/2032

5.05%,

03/15/2042

$

Environmental

Control

-

0.01%

GFL

Environmental

Inc

4.38%,

08/15/2029

(i) 45

Food

-

0.19%

Grupo

Nutresa

SA

8.00%,

05/12/2030

(i) 725

774

JBS

USA

Holding

Lux

Sarl

/

JBS

USA

Foods

Group

Holdings

Inc

/

JBS

USA

Food

Co

5.50%,

01/15/2036

(i) 140

JBS

USA

Holding

Lux

Sarl/

JBS

USA

Food

Co/

JBS

Lux

Co

Sarl

3.00%,

02/02/2029

$

951

Healthcare

-

Products

-

0.03%

Avantor

Funding

Inc

4.63%,

07/15/2028

(i) 40

Hologic

Inc

3.25%,

02/15/2029

(i) 105

$

Healthcare

-

Services

-

0.17%

Centene

Corp

3.38%,

02/15/2030

4.63%,

12/15/2029

HCA

Inc

4.90%,

11/15/2035

5.60%,

04/01/2034

Molina

Healthcare

Inc

3.88%,

05/15/2032

(i) 70

4.38%,

06/15/2028

(i) 65

6.50%,

02/15/2031

(i) 112

$

820

Home

Builders

-

0.07%

Meritage

Homes

Corp

5.65%,

03/15/2035

Taylor

Morrison

Communities

Inc

5.75%,

11/15/2032

(i) 93

$

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Home

Equity

Asset

Backed

Securities

-

0.04%

GITSIT

Mortgage

Loan

Trust

2025-NPL1

6.28%,

02/25/2055

(i),(k)

$

$

8.84%,

02/25/2055

(i),(k)

$

Insurance

-

0.29%

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

6.50%,

10/01/2031

(i) 60

6.75%,

04/15/2028

(i) 7

Brown

&

Brown

Inc

5.55%,

06/23/2035

Global

Atlantic

Fin

Co

3.13%,

06/15/2031

(i) 85

4.40%,

10/15/2029

(i) 50

Marsh

&

McLennan

Cos

Inc

4.55%,

11/08/2027

Ryan

Specialty

LLC

5.88%,

08/01/2032

(i) 13

SBL

Holdings

Inc

6.50%,

11/13/2026

(i),(j),(m)

829

788

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.62%

$

1,420

Internet

-

0.52%

AppLovin

Corp

5.13%,

12/01/2029

5.50%,

12/01/2034

Beignet

Investor

LLC

6.58%,

05/30/2049

(i) 253

Getty

Images

Inc

11.25%,

02/21/2030

(i) 1,110

1,066

14.00%,

03/01/2028

(i) 584

555

Go

Daddy

Operating

Co

LLC

/

GD

Finance

Co

Inc

3.50%,

03/01/2029

(i) 85

5.25%,

12/01/2027

(i) 60

Meta

Platforms

Inc

4.88%,

11/15/2035

5.63%,

11/15/2055

Uber

Technologies

Inc

4.80%,

09/15/2035

$

2,585

Investment

Companies

-

0.24%

Antares

Holdings

LP

2.75%,

01/15/2027

(i) 505

Gaci

First

Investment

Co

5.63%,

07/29/2034

675

713

$

1,205

Iron

&

Steel

-

0.12%

Commercial

Metals

Co

5.75%,

11/15/2033

(i) 43

6.00%,

12/15/2035

(i) 61

Samarco

Mineracao

SA

9.00%,

PIK

9.00%;

06/30/2031

(k),(l)

Steel

Dynamics

Inc

5.25%,

05/15/2035

$

574

Leisure

Products

&

Services

-

0.02%

Kingpin

Intermediate

Holdings

LLC

7.25%,

10/15/2032

(i) 56

Royal

Caribbean

Cruises

Ltd

5.63%,

09/30/2031

(i) 65

$

Lodging

-

0.05%

Hilton

Grand

Vacations

Borrower

LLC

/

Hilton

Grand

Vacations

Borrower

Inc

6.63%,

01/15/2032

(i) 55

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Lodging

(continued)

Marriott

International

Inc/MD

5.50%,

04/15/2037

$

$

$

Media

-

0.33%

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

5.13%,

05/01/2027

(i) 290

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

6.38%,

10/23/2035

6.55%,

06/01/2034

6.65%,

02/01/2034

CSC

Holdings

LLC

4.63%,

12/01/2030

(i) 235

5.38%,

02/01/2028

(i) 200

Directv

Financing

LLC

8.88%,

02/01/2030

(i) 25

8.88%,

02/01/2030

(i) 79

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

10.00%,

02/15/2031

(i) 95

Discovery

Communications

LLC

3.63%,

05/15/2030

6.35%,

06/01/2040

DISH

DBS

Corp

5.25%,

12/01/2026

(i) 415

TEGNA

Inc

5.00%,

09/15/2029

Time

Warner

Cable

LLC

6.55%,

05/01/2037

$

1,634

Mining

-

0.56%

Glencore

Funding

LLC

6.50%,

10/06/2033

(i) 295

Ivanhoe

Mines

Ltd

7.88%,

01/23/2030

(i) 775

795

Vedanta

Resources

Finance

II

PLC

9.48%,

07/24/2030

(i) 475

10.88%,

09/17/2029

WE

Soda

Investments

Holding

PLC

9.50%,

10/06/2028

(i) 525

532

9.50%,

10/06/2028

$

2,750

Miscellaneous

Manufacturers

-

0.07%

Axon

Enterprise

Inc

6.13%,

03/15/2030

(i) 25

6.25%,

03/15/2033

(i) 15

Entegris

Inc

4.75%,

04/15/2029

(i) 105

Textron

Financial

Corp

5.85%,

02/15/2067

(i) 215

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

$

Mortgage

Backed

Securities

-

0.53%

Alternative

Loan

Trust

2003-22CB

5.75%,

12/25/2033

Alternative

Loan

Trust

2004-16CB

5.50%,

07/25/2034

5.50%,

08/25/2034

Alternative

Loan

Trust

2004-J10

6.00%,

09/25/2034

Banc

of

America

Alternative

Loan

Trust

2003-8

5.50%,

10/25/2033

Banc

of

America

Funding

2005-7

Trust

5.75%,

11/25/2035

Banc

of

America

Funding

2007-4

Trust

5.50%,

11/25/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Mortgage

Backed

Securities

(continued)

Banc

of

America

Mortgage

2005-A

Trust

5.11%,

02/25/2035

(k) $

$

BINOM

Securitization

Trust

2022-RPL1

3.00%,

02/25/2061

(i),(k)

CAFL

2023-RTL1

Issuer

LLC

7.55%,

12/28/2030

(i),(k)

CHL

Mortgage

Pass-Through

Trust

2004-HYB4

5.21%,

09/20/2034

(k) 10

CSFB

Mortgage-Backed

Pass-Through

Certificates

Series

2003-27

5.75%,

11/25/2033

DSLA

Mortgage

Loan

Trust

2005-AR5

4.73%,

09/19/2045

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.77%

GSR

Mortgage

Loan

Trust

2005-4F

6.50%,

02/25/2035

IndyMac

INDX

Mortgage

Loan

Trust

2004-AR7

5.29%,

09/25/2034

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.33%

IndyMac

INDX

Mortgage

Loan

Trust

2005-AR11

3.68%,

08/25/2035

(k) 263

Lehman

XS

Trust

Series

2006-2N

4.59%,

02/25/2046

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.63%

MASTR

Alternative

Loan

Trust

2003-9

5.25%,

11/25/2033

MASTR

Alternative

Loan

Trust

2004-5

5.50%,

06/25/2034

6.00%,

06/25/2034

MASTR

Alternative

Loan

Trust

2004-8

6.00%,

09/25/2034

Merrill

Lynch

Mortgage

Investors

Trust

Series

MLCC

2006-2

5.90%,

05/25/2036

(k) 1

MFA

2024-NPL1

Trust

6.33%,

09/25/2054

(k) 86

New

Residential

Mortgage

Loan

Trust

2024-RTL1

6.66%,

03/25/2039

(i),(k)

NLT

2023-1

Trust

3.20%,

10/25/2062

(i),(k)

PRET

2025-NPL8

LLC

5.73%,

08/25/2055

(i),(k)

PRPM

2025-2

LLC

9.56%,

05/25/2030

(i),(k)

PRPM

2025-8

LLC

5.39%,

10/25/2030

(i),(k)

RCO

IX

Mortgage

LLC

2025-2

6.51%,

04/25/2030

(i),(k)

RCO

IX

Mortgage

LLC

2025-4

5.31%,

10/25/2030

(i),(k)

RCO

X

Mortgage

LLC

2025-1

5.88%,

01/25/2030

(i),(k)

Redwood

Funding

Trust

2025-1

7.58%,

05/27/2055

(i),(k)

Roc

Mortgage

Trust

2024-RTL1

5.59%,

10/25/2039

(i),(k)

Structured

Adjustable

Rate

Mortgage

Loan

Trust

4.38%,

07/25/2035

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.42%

Toorak

Mortgage

Trust

2024-RRTL1

6.60%,

02/25/2039

(i),(k)

VCAT

2025-NPL3

LLC

5.89%,

02/25/2055

(i),(k)

$

2,611

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

-

1.96%

Azule

Energy

Finance

Plc

8.13%,

01/23/2030

(i) $

575

$

577

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp

11.00%,

04/15/2026

(i) 492

Civitas

Resources

Inc

8.38%,

07/01/2028

(i) 98

Continental

Resources

Inc/OK

2.88%,

04/01/2032

(i) 135

5.75%,

01/15/2031

(i) 410

Energean

Israel

Finance

Ltd

5.38%,

03/30/2028

(i) 425

5.38%,

03/30/2028

(i) 110

8.50%,

09/30/2033

(i) 490

523

Energean

PLC

5.63%,

05/12/2031

(i) EUR

Helmerich

&

Payne

Inc

5.50%,

12/01/2034

$

Kosmos

Energy

Ltd

7.50%,

03/01/2028

600

Leviathan

Bond

Ltd

6.50%,

06/30/2027

(i) 750

754

6.50%,

06/30/2027

(i) 25

OGX

Austria

GmbH

0.00%,

06/01/2018

(d),(i)

600

—

0.00%,

04/01/2022

(d),(g)

1,100

—

Permian

Resources

Operating

LLC

8.00%,

04/15/2027

(i) 84

Petroleos

de

Venezuela

SA

0.00%,

05/16/2024

(d),(i)

0.00%,

05/16/2024

(d) 3,295

807

0.00%,

11/15/2026

(d) 650

Petroleos

Mexicanos

5.95%,

01/28/2031

6.70%,

02/16/2032

6.84%,

01/23/2030

590

597

Puma

International

Financing

SA

7.75%,

04/25/2029

(i) 525

542

Raizen

Fuels

Finance

SA

6.25%,

07/08/2032

(i) 400

6.70%,

02/25/2037

(i) 275

Saudi

Arabian

Oil

Co

5.38%,

06/02/2035

Shelf

Drilling

Holdings

Ltd

9.63%,

04/15/2029

(i) 557

583

SM

Energy

Co

6.75%,

08/01/2029

(i) 68

Tengizchevroil

Finance

Co

International

Ltd

4.00%,

08/15/2026

Uzbekneftegaz

JSC

8.75%,

05/07/2030

(i) 475

502

Viper

Energy

Partners

LLC

5.70%,

08/01/2035

$

9,679

Oil

&

Gas

Services

-

0.09%

Yinson

Boronia

Production

BV

8.95%,

07/31/2042

Other

Asset

Backed

Securities

-

2.03%

Capital

Clo

Ltd

5.70%,

04/15/2035

(i) 255

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.80%

AASET

2024-2

Ltd

5.93%,

09/16/2049

(i) 230

Accelerated

Assets

2018-1

LLC

4.51%,

12/02/2033

(i) 20

AIM

Aviation

Finance

Ltd

5.07%,

02/15/2040

(i),(k)

675

547

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Other

Asset

Backed

Securities

(continued)

Applebee's

Funding

LLC

/

IHOP

Funding

LLC

6.72%,

06/07/2055

(i) $

$

7.82%,

03/05/2053

(i) 150

Bain

Capital

Credit

CLO

2020-1

Ltd

5.68%,

04/18/2033

(i) 145

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.80%

BHG

Securitization

Trust

2023-B

7.45%,

12/17/2036

(i) 79

Blackbird

Capital

Aircraft

Lease

Securitization

Ltd

2016-1

4.21%,

12/16/2041

(i),(k)

Carval

Clo

X-C

Ltd

5.68%,

07/20/2037

(i) 260

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.80%

Clsec

Holdings

22t

LLC

6.17%,

05/11/2037

(i) 50

Compass

Datacenters

Issuer

III

LLC

5.29%,

07/25/2050

(i) 65

5.66%,

02/25/2050

(i) 65

DataBank

Issuer

II

LLC

5.18%,

09/27/2055

(i) 115

EDI

ABS

Issuer

LLC

4.45%,

07/25/2055

(i) 65

EWC

Master

Issuer

LLC

5.50%,

03/15/2052

(i) 97

Foundation

Finance

Trust

2025-1

5.26%,

04/15/2050

(i) 100

6.09%,

04/15/2050

(i) 100

Frontier

Issuer

LLC

6.60%,

08/20/2053

(i) 315

Garnet

CLO

Ltd

5.43%,

10/20/2038

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.35%

Global

SC

Finance

X

Ltd

7.85%,

09/20/2045

(i) 104

Golub

Capital

Partners

CLO

B

Ltd

5.71%,

07/25/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.85%

Golub

Capital

Partners

CLO

75B

Ltd

5.81%,

07/25/2037

(i) 260

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.95%

GoodLeap

Home

Improvement

Solutions

Trust

2024-1

6.38%,

10/20/2046

(i) 84

Kapitus

Asset

Securitization

IV

LLC

5.49%,

09/10/2031

(i) 100

Kestrel

Aircraft

Funding

Ltd

4.25%,

12/15/2038

(i) 77

KKR

CLO

Ltd

5.75%,

07/20/2031

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.86%

Labrador

Aviation

Finance

Ltd

2016-1A

4.30%,

01/15/2042

(i) 113

Madison

Park

Funding

LIII

Ltd

5.62%,

04/21/2035

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Madison

Park

Funding

LIX

Ltd

6.13%,

04/18/2037

(i) 260

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Other

Asset

Backed

Securities

(continued)

Marlette

Funding

Trust

2023-4

8.15%,

12/15/2033

(i) $

$

MetroNet

Infrastructure

Issuer

LLC

7.83%,

08/20/2055

(i) 30

OCP

Clo

2019-17

Ltd

5.88%,

07/20/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Octagon

Investment

Partners

XXII

Ltd

6.02%,

01/22/2030

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.16%

OHA

Credit

Partners

XI

Ltd

6.08%,

04/20/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.20%

OHA

Loan

Funding

2013-1

Ltd

6.21%,

04/23/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.35%

OnDeck

Asset

Securitization

Trust

IV

LLC

8.99%,

06/17/2031

(i) 100

OWN

Equipment

Fund

I

LLC

5.70%,

12/20/2032

(i) 83

Palmer

Square

BDC

CLO

Ltd

6.05%,

07/15/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.15%

Palmer

Square

CLO

2024-2

LTD

5.53%,

07/20/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.65%

Planet

Fitness

Master

Issuer

LLC

3.86%,

12/05/2049

(i) 259

5.77%,

06/05/2054

(i) 74

Post

CLO

2023-1

Ltd

5.16%,

10/20/2038

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.30%

QTS

Issuer

ABS

II

LLC

5.78%,

10/05/2055

(i) 55

Regatta

Funding

Ltd

5.57%,

10/15/2038

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.29%

Regional

Management

Issuance

Trust

2025-2

5.36%,

11/16/2037

(i) 140

Rockford

Tower

2024-2

Ltd

5.73%,

10/20/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.85%

Rockford

Tower

CLO

2018-1

Ltd

5.25%,

05/20/2031

(i) 43

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.36%

SEB

Funding

LLC

7.39%,

04/30/2054

(i) 70

SF

Abs

Issuer

LLC

5.87%,

11/25/2055

(i),(o)

Shentel

Issuer

LLC

5.64%,

12/20/2055

(i),(o)

Silver

Point

CLO

Ltd

5.51%,

10/15/2038

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.31%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Other

Asset

Backed

Securities

(continued)

Sixth

Street

CLO

XV

Ltd

5.87%,

10/24/2037

(i) $

$

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Sixth

Street

CLO

XXV

Ltd

5.67%,

07/24/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.80%

Subway

Funding

LLC

6.03%,

07/30/2054

(i) 213

Sunnova

Helios

X

Issuer

LLC

6.00%,

11/22/2049

(i) 103

Sunnova

Helios

XIII

Issuer

LLC

5.30%,

02/20/2051

(i) 85

Sunrun

Athena

Issuer

2018-1

LLC

5.31%,

04/30/2049

(i) 76

Sunrun

Demeter

Issuer

2021-2

LLC

2.27%,

01/30/2057

(i) 79

Wellfleet

CLO

2024-1

Ltd

5.93%,

07/18/2037

(i) 250

1.00 x

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.05%

Wingstop

Funding

LLC

5.86%,

12/05/2054

(i) 100

$

9,998

Packaging

&

Containers

-

0.20%

Ball

Corp

5.50%,

09/15/2033

Mauser

Packaging

Solutions

Holding

Co

9.25%,

04/15/2030

(i) 858

746

$

992

Pharmaceuticals

-

0.29%

Bausch

Health

Cos

Inc

4.88%,

06/01/2028

(i) 105

Eli

Lilly

&

Co

4.55%,

02/12/2028

Teva

Pharmaceutical

Finance

Netherlands

II

BV

4.38%,

05/09/2030

EUR

7.38%,

09/15/2029

7.88%,

09/15/2031

Teva

Pharmaceutical

Finance

Netherlands

III

BV

4.10%,

10/01/2046

$

795

604

$

1,452

Pipelines

-

0.56%

Acu

Petroleo

Luxembourg

Sarl

7.50%,

07/13/2035

Galaxy

Pipeline

Assets

Bidco

Ltd

2.16%,

03/31/2034

(i) 262

2.16%,

03/31/2034

Golar

LNG

Ltd

7.50%,

10/02/2030

(i) 375

Southern

Gas

Corridor

CJSC

6.88%,

03/24/2026

Targa

Resources

Corp

5.55%,

08/15/2035

6.13%,

03/15/2033

6.50%,

03/30/2034

Venture

Global

Calcasieu

Pass

LLC

3.88%,

11/01/2033

(i) 105

4.13%,

08/15/2031

(i) 90

Venture

Global

Plaquemines

LNG

LLC

6.50%,

01/15/2034

(i) 90

7.50%,

05/01/2033

(i) 177

7.75%,

05/01/2035

(i) 110

Western

Midstream

Operating

LP

6.15%,

04/01/2033

$

2,787

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Real

Estate

-

0.18%

Agile

Group

Holdings

Ltd

0.00%,

10/13/2025

(d) $

$

CFLD

Cayman

Investment

Ltd

0.00%,

01/31/2031

(d),(i)

0.00%,

01/31/2031

(d),(i)

0.00%,

01/31/2031

(d),(i)

—

China

Evergrande

Group

0.00%,

06/28/2025

(d) 200

Kaisa

Group

Holdings

Ltd

5.25%,

PIK

6.25%;

12/28/2028

(i),(k),(l)

5.50%,

PIK

6.00%;

12/28/2027

(i),(k),(l)

5.50%,

PIK

6.50%;

12/28/2029

(i),(k),(l)

5.75%,

PIK

6.75%;

12/28/2030

(i),(k),(l)

6.00%,

PIK

7.00%;

12/28/2031

(i),(k),(l)

6.25%,

PIK

7.25%;

12/28/2032

(i),(k),(l)

KWG

Group

Holdings

Ltd

0.00%,

02/13/2026

(d) 210

Mobiliare

Latam

SA

/

Mobiliare

Latam

Mexico

SA

de

CV

6.75%,

11/10/2032

(i) 350

NWD

MTN

Ltd

4.13%,

07/18/2029

4.50%,

05/19/2030

Sunac

China

Holdings

Ltd

0.00%,

09/30/2025

(d),(i)

0.00%,

PIK

0.00%;

09/30/2026

(d),(i),(l)

0.00%,

PIK

0.00%;

09/30/2027

(d),(i),(l)

0.00%,

PIK

0.00%;

09/30/2028

(d),(i),(l)

0.00%,

PIK

0.00%;

09/30/2029

(d),(i),(l)

0.00%,

PIK

0.00%;

09/30/2030

(d),(i),(l)

Times

China

Holdings

Ltd

0.00%,

03/22/2026

(d) 210

Yuzhou

Group

Holdings

Co

Ltd

0.00%,

PIK

0.00%;

06/30/2027

(d),(k),(l)

0.00%,

PIK

0.00%;

06/30/2028

(d),(k),(l)

0.00%,

PIK

0.00%;

06/30/2029

(d),(k),(l)

0.00%,

PIK

0.00%;

06/30/2030

(d),(k),(l)

0.00%,

PIK

0.00%;

06/30/2031

(d),(k),(l)

0.00%,

PIK

0.00%;

06/30/2034

(d),(k),(l)

—

Zhenro

Properties

Group

Ltd

0.00%,

01/07/2026

(d) 200

—

$

872

Regional

Authority

-

0.09%

Provincia

de

Buenos

Aires/Government

Bonds

6.63%,

09/01/2037

(k) 643

REITs

-

0.06%

Emirates

Reit

Sukuk

III

Ltd

7.50%,

12/12/2028

(k) 200

Iron

Mountain

Inc

4.50%,

02/15/2031

(i) 55

5.25%,

07/15/2030

(i) 30

$

Retail

-

0.22%

1011778

BC

ULC

/

New

Red

Finance

Inc

3.50%,

02/15/2029

(i) 20

3.88%,

01/15/2028

(i) 5

4.00%,

10/15/2030

(i) 263

Global

Auto

Holdings

Ltd/AAG

FH

UK

Ltd

11.50%,

08/15/2029

(i) 200

Lowe's

Cos

Inc

4.80%,

04/01/2026

Starbucks

Corp

4.85%,

02/08/2027

$

1,108

Semiconductors

-

0.12%

Broadcom

Inc

3.14%,

11/15/2035

(i) 310

3.47%,

04/15/2034

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Semiconductors

(continued)

Micron

Technology

Inc

5.88%,

09/15/2033

$

$

6.05%,

11/01/2035

$

570

Software

-

0.14%

Fair

Isaac

Corp

6.00%,

05/15/2033

(i) 136

MSCI

Inc

5.25%,

09/01/2035

Oracle

Corp

5.20%,

09/26/2035

Synopsys

Inc

5.15%,

04/01/2035

5.70%,

04/01/2055

$

672

Sovereign

-

14.14%

Angolan

Government

International

Bond

8.00%,

11/26/2029

600

580

8.25%,

05/09/2028

Argentine

Republic

Government

International

Bond

4.12%,

07/09/2035

(k) 1,175

832

Bahamas

Government

International

Bond

8.25%,

06/24/2036

(i) 400

8.25%,

06/24/2036

Benin

Government

International

Bond

7.96%,

02/13/2038

Brazil

Notas

do

Tesouro

Nacional

Serie

F

9.76%,

01/01/2027

BRL

13,083

2,374

10.00%,

01/01/2031

1,970

Brazilian

Government

International

Bond

5.50%,

11/06/2030

$

650

663

Canadian

Treasury

Bill

2.20%,

01/14/2026

CAD

10,480

7,478

2.22%,

12/03/2025

7,500

5,365

Chile

Government

International

Bond

3.10%,

01/22/2061

$

3.25%,

09/21/2071

Colombian

TES

11.00%,

08/22/2029

COP

3,040,900

785

13.25%,

02/09/2033

4,180,100

1,148

Dominican

Republic

International

Bond

4.50%,

01/30/2030

$

4.88%,

09/23/2032

7.05%,

02/03/2031

Eagle

Funding

Luxco

Sarl

5.50%,

08/17/2030

Ecuador

Government

International

Bond

0.00%,

07/31/2030

(d) 175

6.90%,

07/31/2030

(k) 325

6.90%,

07/31/2035

(k) 921

780

Egypt

Government

Bond

24.46%,

10/01/2027

EGP

17,300

25.32%,

08/13/2027

16,000

Egypt

Government

International

Bond

5.80%,

09/30/2027

$

7.05%,

01/15/2032

7.30%,

09/30/2033

7.63%,

05/29/2032

Egypt

Treasury

Bills

21.12%,

12/16/2025

(p) EGP

6,800

23.33%,

03/17/2026

(p) 14,900

23.40%,

05/19/2026

(p) 37,400

700

23.51%,

03/31/2026

(p) 4,000

Ghana

Government

International

Bond

0.00%,

01/03/2030

(d),(i)

$

0.00%,

01/03/2030

(d) 529

5.00%,

07/03/2029

(i),(k)

575

562

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Hungary

Government

Bond

2.75%,

12/22/2026

HUF

45,170

$

3.00%,

04/25/2041

128,000

4.50%,

03/23/2028

402,400

1,175

7.00%,

10/24/2035

121,000

9.50%,

10/21/2026

35,320

Hungary

Government

International

Bond

6.00%,

09/26/2035

(i) $

575

599

6.00%,

09/26/2035

Israel

Government

International

Bond

5.75%,

03/12/2054

600

585

Ivory

Coast

Government

International

Bond

4.88%,

01/30/2032

EUR

4.88%,

01/30/2032

(i) 475

526

5.88%,

10/17/2031

Japan

Treasury

Discount

Bill

0.43%,

02/24/2026

(p) JPY

465,600

2,977

0.44%,

02/02/2026

(p) 153,800

984

0.46%,

01/13/2026

(p) 1,120,300

7,168

0.54%,

04/10/2026

(p) 581,700

3,717

Kuwait

International

Government

Bond

4.14%,

10/09/2030

(i) $

4.65%,

10/09/2035

(i) 350

Kyrgyz

Republic

International

Bond

7.75%,

06/03/2030

(i) 200

Lebanon

Government

International

Bond

0.00%,

10/04/2022

(d) 462

0.00%,

04/22/2024

(d) 50

0.00%,

11/04/2024

(d) 50

0.00%,

06/12/2025

(d) 225

0.00%,

03/20/2028

(d) 550

0.00%,

05/25/2029

(d) 275

0.00%,

05/17/2033

(d) 425

0.00%,

05/17/2034

(d) 125

Mexican

Bonos

7.75%,

11/13/2042

MXN

19,200

913

8.50%,

11/18/2038

28,700

1,495

Mexico

Government

International

Bond

5.38%,

03/22/2033

$

885

882

5.63%,

09/22/2035

Morocco

Government

International

Bond

4.75%,

04/02/2035

EUR

875

1,041

Nigeria

Government

International

Bond

6.13%,

09/28/2028

$

7.14%,

02/23/2030

8.63%,

01/13/2036

(i) 550

581

Pakistan

Government

International

Bond

6.88%,

12/05/2027

6.88%,

12/05/2027

7.38%,

04/08/2031

600

588

Peru

Government

Bond

5.40%,

08/12/2034

PEN

3,528

1,033

Peruvian

Government

International

Bond

6.85%,

08/12/2035

(i) 3,500

1,111

6.90%,

08/12/2037

1,550

Republic

of

Poland

Government

Bond

2.00%,

08/25/2036

PLN

4,620

1,155

Republic

of

Poland

Government

International

Bond

5.50%,

03/18/2054

$

Republic

of

South

Africa

Government

Bond

8.75%,

01/31/2044

ZAR

34,575

1,895

8.75%,

02/28/2048

19,475

1,066

9.00%,

01/31/2040

10,770

616

Republic

of

South

Africa

Government

International

Bond

5.75%,

09/30/2049

$

7.95%,

11/19/2054

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Sovereign

(continued)

Republic

of

Uzbekistan

International

Bond

3.70%,

11/25/2030

$

$

3.90%,

10/19/2031

5.10%,

02/25/2029

(i) EUR

5.10%,

02/25/2029

6.90%,

02/28/2032

(i) $

Romanian

Government

International

Bond

5.13%,

09/24/2031

(i) EUR

5.38%,

06/07/2033

(i) 350

5.88%,

07/11/2032

(i) 51

6.38%,

09/18/2033

6.38%,

01/30/2034

$

6.50%,

10/07/2045

(i) EUR

6.75%,

07/11/2039

600

728

7.13%,

01/17/2033

$

Turkiye

Government

Bond

30.08%,

09/12/2029

TRY

29,950

666

36.10%,

08/12/2026

8,430

37.10%,

02/18/2026

10,000

Ukraine

Government

International

Bond

4.50%,

02/01/2034

(i),(k)

$

4.50%,

02/01/2034

(k) 1,066

626

Uruguay

Government

International

Bond

8.00%,

10/29/2035

UYU

2,700

8.50%,

03/15/2028

3,500

9.75%,

07/20/2033

3,375

Zambia

Government

International

Bond

5.75%,

06/30/2033

(k) $

$

69,787

Student

Loan

Asset

Backed

Securities

-

0.20%

College

Ave

Student

Loans

2021-A

LLC

4.12%,

07/25/2051

(i) 43

Navient

Private

Education

Refi

Loan

Trust

2018-A

3.68%,

02/18/2042

(i) 57

Navient

Private

Education

Refi

Loan

Trust

2018-C

4.22%,

06/16/2042

(i) 236

Navient

Private

Education

Refi

Loan

Trust

2020-F

2.69%,

07/15/2069

(i) 100

Nelnet

Student

Loan

Trust

2021-D

2.90%,

04/20/2062

(i) 100

SLM

Private

Credit

Student

Loan

Trust

2003-A

6.99%,

06/15/2032

1.00 x

US

Day

Auction

Rate

+

0.00%

SLM

Private

Credit

Student

Loan

Trust

2003-B

7.05%,

03/15/2033

1.00 x

US

Day

Auction

Rate

+

0.00%

SMB

Private

Education

Loan

Trust

2015-C

3.50%,

09/15/2043

(i) 8

SMB

Private

Education

Loan

Trust

2018-C

4.00%,

11/17/2042

(i) 100

SoFi

Professional

Loan

Program

2020-ATrust

3.12%,

05/15/2046

(i) 160

$

1,010

Supranational

Bank

-

0.21%

Africa

Finance

Corp

7.50%,

01/21/2030

(i),(j),(m)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.02%

Banque

Ouest

Africaine

de

Developpement

5.00%,

07/27/2027

600

596

$

1,050

Telecommunications

-

0.92%

Axian

Telecom

Holding

&

Management

PLC

7.25%,

07/11/2030

(i) 275

7.25%,

07/11/2030

Cipher

Compute

LLC

7.13%,

11/15/2030

(i) 25

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

(continued)

Digicel

International

Finance

Ltd

/

Difl

US

LLC

8.63%,

08/01/2032

(i) $

700

$

717

EchoStar

Corp

10.75%,

11/30/2029

1,443

1,591

Frontier

Communications

Holdings

LLC

5.88%,

11/01/2029

6.00%,

01/15/2030

(i) 374

Telecommunications

co

Telekom

Srbija

AD

Belgrade

7.00%,

10/28/2029

(i) 250

Veon

Midco

BV

3.38%,

11/25/2027

850

801

WULF

Compute

LLC

7.75%,

10/15/2030

(i) 90

$

4,529

Transportation

-

0.28%

Transnet/South

Africa

8.25%,

02/06/2028

700

741

Yinson

Bergenia

Production

BV

8.50%,

01/31/2045

(i) 200

8.50%,

01/31/2045

$

1,370

Trucking

&

Leasing

-

0.04%

SMBC

Aviation

Capital

Finance

DAC

5.10%,

04/01/2030

(i) 200

Water

-

0.11%

Aegea

Finance

Sarl

7.63%,

01/20/2036

(i) 375

9.00%,

01/20/2031

(i) 200

$

565

TOTAL

BONDS

$

155,764

CONVERTIBLE

BONDS

-

0.63%

Principal

Amount

(000's)

Value

(000's)

Chemicals

-

0.12%

Sasol

Financing

USA

LLC

4.50%,

11/08/2027

$

600

$

575

Commercial

Services

-

0.00%

Euronet

Worldwide

Inc

0.63%,

10/01/2030

(i) 11

Computers

-

0.01%

Rubrik

Inc

0.00%,

06/15/2030

(d),(i)

Seagate

HDD

Cayman

3.50%,

06/01/2028

Zscaler

Inc

0.00%,

07/15/2028

(d),(i)

$

Electric

-

0.00%

Evergy

Inc

4.50%,

12/15/2027

FirstEnergy

Corp

3.88%,

01/15/2031

(i) 9

Pinnacle

West

Capital

Corp

4.75%,

06/15/2027

$

Electronics

-

0.01%

Advanced

Energy

Industries

Inc

2.50%,

09/15/2028

Itron

Inc

1.38%,

07/15/2030

$

Engineering

&

Construction

-

0.00%

Fluor

Corp

1.13%,

08/15/2029

Granite

Construction

Inc

3.75%,

05/15/2028

$

CONVERTIBLE

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Food

-

0.00%

Post

Holdings

Inc

2.50%,

08/15/2027

$

$

Gas

-

0.00%

UGI

Corp

5.00%,

06/01/2028

Internet

-

0.02%

DoorDash

Inc

0.00%,

05/15/2030

(d),(i)

Lyft

Inc

0.00%,

09/15/2030

(d),(i)

MakeMyTrip

Ltd

0.00%,

07/01/2030

(d),(i)

Spotify

USA

Inc

0.00%,

03/15/2026

(d) 4

Uber

Technologies

Inc

0.88%,

12/01/2028

Wix.com

Ltd

0.00%,

09/15/2030

(d),(i)

$

Investment

Companies

-

0.00%

IREN

Ltd

0.00%,

07/01/2031

(d),(i)

Leisure

Products

&

Services

-

0.00%

NCL

Corp

Ltd

0.88%,

04/15/2030

(i) 7

Oil

&

Gas

-

0.01%

Kosmos

Energy

Ltd

3.13%,

03/15/2030

Northern

Oil

&

Gas

Inc

3.63%,

04/15/2029

$

Real

Estate

-

0.00%

Kaisa

Group

Holdings

Ltd

0.00%,

12/31/2025

(d),(i)

—

0.00%,

12/31/2026

(d),(i)

0.00%,

12/31/2027

(d),(i)

—

0.00%,

12/31/2028

(d),(i)

—

0.00%,

12/31/2029

(d),(i)

—

0.00%,

12/31/2030

(d),(i)

—

0.00%,

12/31/2031

(d),(i)

—

0.00%,

12/31/2032

(d),(i)

$

Retail

-

0.00%

Burlington

Stores

Inc

1.25%,

12/15/2027

Freshpet

Inc

3.00%,

04/01/2028

$

Semiconductors

-

0.38%

ams-OSRAM

AG

2.13%,

11/03/2027

EUR

1,700

1,864

Nova

Ltd

0.00%,

09/15/2030

(d),(i)

$

$

1,872

Software

-

0.05%

Cloudflare

Inc

0.00%,

06/15/2030

(d),(i)

Commvault

Systems

Inc

0.00%,

09/15/2030

(d),(i)

Dye

&

Durham

Ltd

3.75%,

03/01/2026

(i) CAD

Guidewire

Software

Inc

1.25%,

11/01/2029

$

Nutanix

Inc

0.50%,

12/15/2029

(i) 17

Snowflake

Inc

0.00%,

10/01/2029

(d) 11

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

CONVERTIBLE

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Software

(continued)

Tyler

Technologies

Inc

0.25%,

03/15/2026

$

$

$

Telecommunications

-

0.03%

EchoStar

Corp

3.88%,

PIK

3.88%;

11/30/2030

(k),(l)

InterDigital

Inc

3.50%,

06/01/2027

$

TOTAL

CONVERTIBLE

BONDS

$

3,115

SENIOR

FLOATING

RATE

INTERESTS

-

0.65%

Principal

Amount

(000's)

Value

(000's)

Automobile

Manufacturers

-

0.02%

Allison

Transmission

Inc

;

Term

Loan

B

0.00%,

11/05/2032

(q),(r)

$

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Automobile

Parts

&

Equipment

-

0.00%

First

Brands

Group

LLC

;

Term

Loan

B

0.00%,

03/30/2027

(d),(r)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.00%

0.00%,

03/30/2027

(d),(q),(r)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

5.00%

First

Brands

Group

LLC

;

DIP

PIK

TERM

5.53%,

PIK

8.45%,

06/29/2026

(l),(r)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.55%

16.25%,

PIK

0.00%,

06/29/2026

(l),(r)

Prime

Rate

+

9.00%

$

Chemicals

-

0.02%

Solstice

Advanced

Materials

Inc

;

Term

Loan

B

5.15%,

09/17/2032

(r) 115

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Commercial

Services

-

0.05%

Trans

Union

LLC

;

Term

Loan

B8

0.00%,

06/24/2031

(q),(r)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

United

Rentals

North

America

Inc

;

Term

Loan

B

5.47%,

02/14/2031

(r) 25

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

$

Electric

-

0.06%

NRG

Energy

Inc

;

Term

Loan

B

5.59%,

04/16/2031

(r) 314

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Entertainment

-

0.07%

DraftKings

Crown

Holdings

Inc

5.76%,

03/04/2032

(r) 80

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Flutter

Financing

BV

;

Term

Loan

B

5.75%,

11/30/2030

(r) 145

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

6.00%,

06/04/2032

(r) 100

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Entertainment

(continued)

Light

&

Wonder

International

Inc

;

Term

Loan

B2

6.21%,

04/14/2029

(r) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

Environmental

Control

-

0.02%

Clean

Harbors

Inc

;

Term

Loan

B

5.46%,

09/24/2032

(r) 100

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.50%

Food

Service

-

0.03%

Aramark

Services

Inc

;

Term

Loan

B8

6.03%,

06/22/2030

(r) 135

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Aramark

Services

Inc

5.71%,

04/06/2028

(r) 15

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

$

Forest

Products

&

Paper

-

0.05%

Asplundh

Tree

Expert

LLC

;

Term

Loan

B

5.71%,

05/23/2031

(r) 230

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Healthcare

-

Products

-

0.02%

Bausch

+

Lomb

Corp

;

Term

Loan

7.97%,

09/29/2028

(r) 99

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.00%

Healthcare

-

Services

-

0.06%

DaVita

Inc

;

Term

Loan

B2

5.72%,

05/09/2031

(r) 230

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

IQVIA

Inc

;

Term

Loan

B5

5.75%,

01/02/2031

(r) 74

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

$

Insurance

-

0.05%

Ardonagh

Group

Finco

Pty

Ltd

;

Term

Loan

B

0.00%,

02/15/2031

(q),(r)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

CRC

Insurance

Group

LLC

;

Term

Loan

B

6.75%,

05/06/2031

(r) 46

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.75%

Ryan

Specialty

LLC

;

Term

Loan

B

5.96%,

09/13/2031

(r) 28

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.25%

$

Internet

-

0.01%

MH

Sub

I

LLC

;

Term

Loan

B3

8.25%,

04/24/2028

(r) 33

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.25%

Lodging

-

0.01%

Hilton

Grand

Vacations

Borrower

LLC

;

Term

Loan

B

5.96%,

01/17/2031

(r) 52

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.00%

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000's)

Value

(000's)

Machinery

-

Construction

&

Mining

-

0.05%

Terex

Corp

;

Term

Loan

5.71%,

10/08/2031

(r) $

$

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Mining

-

0.05%

Novelis

Holdings

Inc

;

Term

Loan

B

5.75%,

02/25/2032

(r) 230

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

Software

-

0.08%

Darktrace

LEIA

0.00%,

10/09/2031

(q),(r)

Dawn

Bidco

LLC

;

Term

Loan

B

0.00%,

10/07/2032

(q),(r)

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.00%

Open

Text

Corp

;

Term

Loan

B

5.71%,

01/31/2030

(r) 230

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.75%

$

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

3,213

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

3.46%

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

-

3.46%

0.63%,

05/15/2030

$

3,895

$

3,424

2.50%,

02/28/2026

3,475

3,464

3.75%,

04/15/2026

3,469

3,469

4.25%,

01/31/2026

3,279

3,280

4.50%,

03/31/2026

(s) 3,451

3,458

$

17,095

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

17,095

TOTAL

PURCHASED

OPTIONS

-

0.03%

$

Total

Investments

$

465,387

Other

Assets

and

Liabilities

- 5.72%

28,263

TOTAL

NET

ASSETS

-

100.00%

$

493,650

(a) All

or

a

portion

of

this

security

is

owned

by

the

GMS

Cayman

Corporation,

which

is

a

wholly-owned

subsidiary

of

the

Fund.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

swap

and/or

swaption

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$39,501

or

8.00%

of

net

assets.

(f) Security

or

a

portion

of

the

security

was

pledged

as

collateral

for

options

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,097

or

2.05%

of

net

assets.

(g) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(h) Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(i) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$59,130

or

11.98%

of

net

assets.

(j) Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(k) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(l) Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(m) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(n) Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,887

or

0.38%

of

net

assets.

(o) Security

purchased

on

a

when-issued

basis.

(p) Rate

shown

is

the

discount

rate

of

the

original

purchase.

(q) This

Senior

Floating

Rate

Note

will

settle

after

November

30,

2025,

at

which

time

the

interest

rate

will

be

determined.

(r) Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(s) Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,370

or

0.48%

of

net

assets.

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

76,101

$

120,945

$

114,926

$

82,120

$

76,101

$

120,945

$

114,926

$

82,120

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

777

$

—

$

—

$

—

$

777

$

—

$

—

$

—

Amounts

in

thousands.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Element

Comm

Aviation

06/15/2015

$

2,800

$

—

0.00%

Total

$

—

0.00%

Amounts

in

thousands.

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Paid

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Put

-

Aptiv

PLC

N/A

$

$

70.00 01/16/2026

$

$

$

(16) Put

-

Aptiv

PLC

N/A

$

70.00 12/19/2025

(12) Put

-

Comcast

Corp

N/A

$

25.00 01/16/2026

Put

-

CSX

Corp

N/A

$

32.50 12/19/2025

(2) Put

-

CSX

Corp

N/A

610

$

30.00 01/16/2026

(8) Put

-

DuPont

de

Nemours

Inc

N/A

$

70.00 12/19/2025

—

(18) Put

-

Honeywell

International

Inc

N/A

$

200.00 12/19/2025

(42) Put

-

IAC

Inc

N/A

$

30.00 12/19/2025

(28) Put

-

Kenvue

Inc

N/A

$

14.00 12/19/2025

(8) Put

-

Keurig

Dr

Pepper

Inc

N/A

589

$

24.00 12/19/2025

(18) Put

-

Kraft

Heinz

Co/The

N/A

555

$

20.00 12/19/2025

—

(5) Put

-

S&P

500

Index

N/A

$

6,350.00

01/16/2026

(39) Put

-

S&P

500

Index

N/A

$

6,350.00

02/20/2026

(20) Put

-

S&P

500

Index

N/A

$

6,425.00

12/19/2025

(36) Put

-

SPDR

S&P

500

ETF

Trust

N/A

$

635.00 01/16/2026

(39) Put

-

Teck

Resources

Ltd

N/A

$

36.00 01/16/2026

(20) Put

-

Teck

Resources

Ltd

N/A

$

35.00 12/19/2025

(6) Put

-

Warner

Bros

Discovery

Inc

N/A

$

12.00 12/19/2025

—

(5) Put

-

Warner

Bros

Discovery

Inc

N/A

$

17.50 01/16/2026

(2) Put

-

Warner

Bros

Discovery

Inc

N/A

$

15.00 12/19/2025

(8) Total

$

$

$

(330) Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Premiums

Received

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

Air

Lease

Corp

N/A

$

$

65.00 02/20/2026

$

—

$

—

$

—

Call

-

Aptiv

PLC

N/A

$

80.00 12/19/2025

(29) (5) 24

Call

-

Aptiv

PLC

N/A

$

77.50 12/19/2025

(85) (30) 55

Call

-

Aptiv

PLC

N/A

$

75.00 01/16/2026

(42) (59) (17) Call

-

Bristol-Myers

Squibb

Co

N/A

$

49.00 12/19/2025

—

(1) (1) Call

-

Colgate-Palmolive

Co

N/A

—

$

85.00 12/19/2025

—

—

—

Call

-

Comcast

Corp

N/A

—

$

32.50 12/19/2025

—

—

—

Call

-

Comcast

Corp

N/A

$

30.00 01/16/2026

(22) (5) 17

Call

-

CSX

Corp

N/A

$

37.50 12/19/2025

(8) (1) 7

Call

-

CSX

Corp

N/A

610

$

35.00 01/16/2026

(47) (85) (38) Call

-

DuPont

de

Nemours

Inc

N/A

$

80.00 12/19/2025

(15) (9) 6

Call

-

DuPont

de

Nemours

Inc

N/A

$

82.50 12/19/2025

(24) —

Call

-

Electronic

Arts

Inc

N/A

$

210.00 03/20/2026

—

—

—

Call

-

Electronic

Arts

Inc

N/A

—

$

210.00 12/19/2025

—

—

—

Call

-

Electronic

Arts

Inc

N/A

—

$

210.00 06/18/2026

—

—

—

Call

-

Exact

Sciences

Corp

N/A

$

105.00 01/16/2026

(1) (1) —

Call

-

Honeywell

International

Inc

N/A

$

220.00 12/19/2025

(68) (2) 66

Call

-

IAC

Inc

N/A

$

35.00 12/19/2025

(95) (52) 43

Call

-

Kenvue

Inc

N/A

$

16.00 12/19/2025

(46) (74) (28) Call

-

Keurig

Dr

Pepper

Inc

N/A

589

$

27.00 12/19/2025

(100) (75) 25

Call

-

Kraft

Heinz

Co/The

N/A

555

$

25.00 12/19/2025

(31) (42) (11) Call

-

SPDR

S&P

500

ETF

Trust

N/A

$

690.00 01/16/2026

(15) (26) (11) Call

-

Teck

Resources

Ltd

N/A

$

39.00 12/19/2025

(143) (98) 45

Call

-

Teck

Resources

Ltd

N/A

$

40.00 12/19/2025

(12) (11) 1

Call

-

Teck

Resources

Ltd

N/A

$

40.00 01/16/2026

(88) (143) (55) Call

-

TEGNA

Inc

N/A

$

22.00 12/19/2025

(1) —

Call

-

United

Parcel

Service

Inc

N/A

—

$

100.00 12/19/2025

—

—

—

Call

-

Warner

Bros

Discovery

Inc

N/A

$

17.00 12/19/2025

(98) (239) (141) Call

-

Warner

Bros

Discovery

Inc

N/A

$

15.00 12/19/2025

(65) (153) (88) Call

-

Warner

Bros

Discovery

Inc

N/A

$

18.00 12/19/2025

(192) (296) (104) Call

-

Warner

Bros

Discovery

Inc

N/A

$

21.00 01/16/2026

(41) (45) (4) Put

-

S&P

500

Index

N/A

$

5,675.00

02/20/2026

(20) (12) 8

Put

-

S&P

500

Index

N/A

$

5,525.00

12/19/2025

(23) (1) 22

Put

-

S&P

500

Index

N/A

$

5,675.00

01/16/2026

(22) (5) 17

Put

-

SPDR

S&P

500

ETF

Trust

N/A

$

595.00 01/16/2026

(17) (4) 13

Call

-

US

Year

Treasury

Note

Future;

March

2026

N/A

$

110.75 12/26/2025

(11) (8) 3

Call

-

US

Year

Treasury

Note

Future;

March

2026

N/A

$

111.00 12/26/2025

(8) (6) 2

Total

$

(1,369)

$

(1,488)

$

(119) Amounts

in

thousands

except

contracts/shares.

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Month

Secured

Overnight

Financing

Rate;

April

2026

Short

$

2,009

$

—

Month

Secured

Overnight

Financing

Rate;

December

2026

Long

25,208

(20) 3

Month

Secured

Overnight

Financing

Rate;

September

2026

Long

10,171

Month

Sterling

Overnight

Index

Average;

December

2026

Long

4,798

ASX

Day

Bank

Bill;

December

2026

Short

5,841

AUD/USD;

December

2025

Short

(1) Australia

Year

Bond;

December

2025

Short

4,759

Australia

Year

Bond;

December

2025

Long

(2) Australia

Year

Bond;

December

2025

Short

9,434

Brazilian

Real;

January

2026

Long

—

Brent

Crude;

April

2026

(a) Short

Brent

Crude;

December

2026

(a) Short

Brent

Crude;

February

2026

(a) Long

(5) Brent

Crude;

February

2026

(a) Short

Brent

Crude;

March

2026

(a) Short

Brent

Financial

Last

Day;

February

2026

(a) Short

—

CAC40

Index;

December

2025

Long

2,169

Canada

Year

Bond;

March

2026

Long

8,358

Canola;

January

2026

(a) Long

—

Canola;

March

2026

(a) Short

—

CME

Micro

Ether;

December

2025

(a) Long

—

Cocoa;

July

2026

(a) Short

Cocoa;

March

2026

(a) Short

(13) Cocoa;

March

2026

(a) Short

Cocoa;

May

2026

(a) Short

Cocoa;

May

2026

(a) Short

Coffee

'C';

March

2026

(a) Long

715

Coffee

'C';

May

2026

(a) Long

(7) Copper;

March

2026

(a) Long

Copper;

May

2026

(a) Long

Corn;

December

2026

(a) Short

(4) Corn;

July

2026

(a) Short

554

(1) Corn;

March

2026

(a) Short

985

(11) Corn;

May

2026

(a) Short

638

(6) Cotton

No.2;

March

2026

(a) Short

938

Cotton

No.2;

May

2026

(a) Short

—

Crude

Palm

Oil;

April

2026

(a) Short

—

Crude

Palm

Oil;

February

2026

(a) Short

Crude

Palm

Oil;

January

2026

(a) Short

Crude

Palm

Oil;

March

2026

(a) Short

DAX

Index;

December

2025

Long

1,385

(12) DJ

Euro

Stoxx

50;

December

2025

Short

(19) DJ

Euro

Stoxx

50;

December

2025

Long

3,819

Dollar

Index;

December

2025

Short

994

(18) ECX

Emission;

December

2026

(a) Long

E-Mini

Crude

Oil;

January

2026

(a) Short

E-Mini

DJIA

Index;

December

2025

Long

3,104

E-mini

Industrial

Select

Sector;

December

2025

Long

—

eMini

MSCI

EAFE;

December

2025

Long

1,268

(3) eMini

MSCI

Emerging

Markets;

December

2025

Long

964

E-Mini

Natural

Gas;

January

2026

(a) Long

—

E-Mini

S&P

Real

Estate;

December

2025

Short

(1) EUR/GBP;

December

2025

Long

EUR/USD;

December

2025

Short

—

Euribor;

December

2026

Long

3,127

(1) Euribor;

December

2026

Short

1,137

—

Euribor;

December

2027

Long

3,120

(3) Euribor;

December

2028

Long

—

Euribor;

June

2026

Long

12,226

(23) Euribor;

June

2027

Long

8,519

(9) Euribor;

June

2028

Long

3,400

(2) Euribor;

March

2026

Long

9,948

(31) Euribor;

March

2029

Short

—

Euribor;

September

2026

Long

1,422

(1) Euro

Bond

Year

Bond;

December

2025

Short

5,234

(2) Euro

Buxl

Year

Bond;

December

2025

Short

1,188

(2) Euro

Milling

Wheat;

March

2026

(a) Short

Euro

Milling

Wheat;

May

2026

(a) Short

Euro

Milling

Wheat;

September

2026

(a) Short

Euro

Schatz;

December

2025

Short

44,190

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Euro

Stoxx

Bank;

December

2025

Long

$

$

Euro-Bobl

Year;

December

2025

Short

7,117

—

Euro-BTP;

December

2025

Long

6,901

(2) Euro-Oat;

December

2025

Short

3,849

(40) Feeder

Cattle;

January

2026

(a) Long

(6) Frozen

Concentrated

Orange

Juice-A;

January

2026

(a) Short

FTSE

China

A50

Index;

December

2025

Long

829

FTSE

KLCI

Index;

December

2025

Long

(1) FTSE

Taiwan

Index;

December

2025

Long

1,092

FTSE/JSE

Top

40;

December

2025

Long

787

FTSE/MIB

Index;

December

2025

Long

FTSE100

Index;

December

2025

Short

(12) FTSE100

Index;

December

2025

Long

3,225

Gasoline

RBOB;

February

2026

(a) Long

(11) Gasoline

RBOB;

January

2026

(a) Long

1,454

(61) Gasoline

RBOB;

March

2026

(a) Long

(6) Gold

oz;

April

2026

(a) Long

857

Gold

oz;

February

2026

(a) Long

2,978

Gold;

October

2026

(a) Long

549

Hang

Seng

Index;

December

2025

Long

1,830

HSCEI

China

Index;

December

2025

Long

(1) HSTECH;

December

2025

Long

—

IBEX

Index;

December

2025

Long

950

IFSC

Nifty

50;

December

2025

Long

1,003

INR/USD

Standard;

December

2025

Short

—

INR/USD;

December

2025

Short

—

Japan

Year

Bond

TSE;

December

2025

Short

9,515

Japan

Topix

Index;

December

2025

Long

3,245

Japanese

Yen;

December

2025

Long

—

KC

HRW

Wheat;

March

2026

(a) Short

KC

HRW

Wheat;

March

2026

(a) Long

(1) Korea

Year

Bond;

December

2025

Short

3,942

Korea

Year

Bond;

December

2025

Short

16,509

KOSDAQ150;

December

2025

Long

KOSPI

Index;

December

2025

Long

(19) Kospi200

Mini;

December

2025

Long

(2) Lean

Hogs;

April

2026

(a) Short

(6) Lean

Hogs;

February

2026

(a) Short

(5) Lean

Hogs;

June

2026

(a) Long

Live

Cattle;

August

2026

(a) Short

—

Live

Cattle;

February

2026

(a) Short

(5) Live

Cattle;

June

2026

(a) Short

LME

Copper;

December

2025

(a) Short

—

—

(13) LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

December

2025

(a) Short

—

—

LME

Copper;

February

2026

(a) Short

—

—

(4) LME

Copper;

February

2026

(a) Short

—

—

LME

Copper;

February

2026

(a) Short

—

—

(3) LME

Copper;

February

2026

(a) Long

559

LME

Copper;

February

2026

(a) Long

LME

Copper;

February

2026

(a) Long

840

LME

Copper;

February

2026

(a) Short

—

—

(4) LME

Copper;

January

2026

(a) Short

—

—

LME

Copper;

January

2026

(a) Short

—

—

LME

Copper;

January

2026

(a) Short

—

—

(4) LME

Copper;

January

2026

(a) Short

—

—

LME

Copper;

March

2026

(a) Long

1,958

LME

Lead;

December

2025

(a) Short

—

—

LME

Lead;

December

2025

(a) Short

—

—

—

LME

Lead;

December

2025

(a) Short

—

—

—

LME

Lead;

December

2025

(a) Short

—

—

—

LME

Lead;

December

2025

(a) Short

—

—

—

LME

Lead;

December

2025

(a) Short

—

—

—

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

LME

Lead;

December

2025

(a) Short

—

$

—

$

—

LME

Lead;

December

2025

(a) Short

—

—

—

LME

Lead;

December

2025

(a) Short

—

—

—

LME

Lead;

December

2025

(a) Short

—

—

—

LME

Lead;

February

2026

(a) Short

—

LME

Lead;

February

2026

(a) Short

LME

Lead;

February

2026

(a) Long

(3) LME

Lead;

February

2026

(a) Short

—

LME

Lead;

February

2026

(a) Short

—

—

(4) LME

Lead;

February

2026

(a) Long

(5) LME

Lead;

January

2026

(a) Short

—

—

(10) LME

Nickel;

December

2025

(a) Short

—

—

(2) LME

Nickel;

December

2025

(a) Short

—

—

LME

Nickel;

December

2025

(a) Short

—

—

LME

Nickel;

December

2025

(a) Short

—

—

LME

Nickel;

December

2025

(a) Short

—

—

LME

Nickel;

December

2025

(a) Short

—

—

(1) LME

Nickel;

December

2025

(a) Short

—

—

(3) LME

Nickel;

December

2025

(a) Short

—

—

(9) LME

Nickel;

December

2025

(a) Short

—

—

(1) LME

Nickel;

December

2025

(a) Short

—

—

—

LME

Nickel;

December

2025

(a) Short

—

—

—

LME

Nickel;

December

2025

(a) Short

—

—

LME

Nickel;

December

2025

(a) Short

—

—

LME

Nickel;

December

2025

(a) Short

—

—

—

LME

Nickel;

December

2025

(a) Short

—

—

—

LME

Nickel;

February

2026

(a) Short

711

LME

Nickel;

February

2026

(a) Short

(1) LME

Nickel;

February

2026

(a) Long

LME

Nickel;

February

2026

(a) Short

—

—

(2) LME

Nickel;

January

2026

(a) Short

—

—

—

LME

Nickel;

January

2026

(a) Short

—

—

(1) LME

Nickel;

January

2026

(a) Short

—

—

LME

Nickel;

January

2026

(a) Short

—

—

—

LME

Nickel;

January

2026

(a) Short

—

—

LME

Nickel;

January

2026

(a) Short

—

—

LME

Nickel;

January

2026

(a) Short

—

—

LME

Nickel;

January

2026

(a) Short

—

—

LME

Nickel;

January

2026

(a) Short

—

—

LME

Primary

Alum;

December

2025

(a) Short

—

—

LME

Primary

Alum;

December

2025

(a) Short

—

—

LME

Primary

Alum;

December

2025

(a) Short

—

—

LME

Primary

Alum;

December

2025

(a) Short

—

—

LME

Primary

Alum;

December

2025

(a) Short

—

—

—

LME

Primary

Alum;

December

2025

(a) Short

—

—

LME

Primary

Alum;

February

2026

(a) Short

—

—

(1) LME

Primary

Alum;

February

2026

(a) Long

—

LME

Primary

Alum;

February

2026

(a) Long

1,220

LME

Primary

Alum;

January

2026

(a) Short

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

—

LME

Primary

Alum;

January

2026

(a) Short

—

—

(4) LME

Primary

Alum;

January

2026

(a) Short

—

—

LME

Primary

Alum;

March

2026

(a) Long

575

(2) LME

Tin;

February

2026

(a) Long

LME

Tin;

January

2026

(a) Short

—

—

LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

December

2025

(a) Short

—

—

(1) LME

Zinc;

December

2025

(a) Short

—

—

—

LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

December

2025

(a) Short

—

—

(2) LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

December

2025

(a) Short

—

—

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

LME

Zinc;

December

2025

(a) Short

—

$

—

$

LME

Zinc;

December

2025

(a) Short

—

—

—

LME

Zinc;

December

2025

(a) Short

—

—

—

LME

Zinc;

December

2025

(a) Short

—

—

LME

Zinc;

February

2026

(a) Long

690

LME

Zinc;

February

2026

(a) Long

LME

Zinc;

February

2026

(a) Long

LME

Zinc;

February

2026

(a) Long

LME

Zinc;

February

2026

(a) Long

LME

Zinc;

January

2026

(a) Short

—

—

—

LME

Zinc;

January

2026

(a) Short

—

—

—

LME

Zinc;

January

2026

(a) Short

—

—

LME

Zinc;

January

2026

(a) Short

—

—

(1) LME

Zinc;

January

2026

(a) Short

—

—

(1) LME

Zinc;

January

2026

(a) Short

—

—

(4) LME

Zinc;

January

2026

(a) Short

—

—

(1) LME

Zinc;

January

2026

(a) Short

—

—

LME

Zinc;

March

2026

(a) Long

Low

Sulphur

Gasoline;

April

2026

(a) Long

(5) Low

Sulphur

Gasoline;

February

2026

(a) Long

(13) Low

Sulphur

Gasoline;

January

2026

(a) Long

1,206

(71) Low

Sulphur

Gasoline;

March

2026

(a) Long

(2) Lumber;

January

2026

(a) Short

Maize;

March

2026

(a) Short

—

Mexican

Peso;

December

2025

Long

MIAX

Red

Wheat;

March

2026

(a) Short

Micro

EUR/USD;

December

2025

Long

—

Micro

Gold;

February

2026

(a) Long

Milk;

January

2026

(a) Short

Mini

FTSE/MIB;

December

2025

Long

Mini

HIS

Index;

December

2025

Long

—

Mini

H-Share

Index;

December

2025

Long

—

Mini

Japan

Year

Bond;

December

2025

Short

1,643

Mini

Topix

Index;

December

2025

Long

MSCI

Singapore

Index;

December

2025

Long

Nasdaq

E-Mini;

December

2025

Long

3,058

Natural

Gas;

February

2026

(a) Long

(1) Natural

Gas;

January

2026

(a) Long

Natural

Gas;

March

2026

(a) Long

(1) Natural

Gas;

October

2026

(a) Long

(1) New

Zealand

Dollars;

December

2025

Short

Nikkei

Mini;

December

2025

Long

Nikkei

OSE;

December

2025

Long

1,930

Nikkei

SGX;

December

2025

Long

805

Nikkei

Yen;

December

2025

Long

Nikkei

225;

December

2025

Long

502

Nikkei

400;

December

2025

Long

—

NY

Harbor

ULSD;

April

2026

(a) Long

(6) NY

Harbor

ULSD;

December

2026

(a) Long

(1) NY

Harbor

ULSD;

February

2026

(a) Long

(8) NY

Harbor

ULSD;

January

2026

(a) Long

1,451

(87) NY

Harbor

ULSD;

March

2026

(a) Long

(9) Oat;

March

2026

(a) Short

—

Palladium;

March

2026

(a) Long

Platinum;

August

2026

(a) Long

Platinum;

January

2026

(a) Long

Platinum;

October

2026

(a) Long

Rapeseed

Euro;

February

2026

(a) Short

(1) Rapeseed

Euro;

May

2026

(a) Long

—

Robusta

Coffee

10tn;

January

2026

(a) Long

—

Robusta

Coffee

10tn;

March

2026

(a) Long

(1) Rough

Rice;

January

2026

(a) Short

Russell

2000

Emini;

December

2025

Short

10,396

(373) Russell

2000

Emini;

December

2025

Long

1,378

S&P

500

Emini;

December

2025

Short

2,058

(58) S&P

500

Emini;

December

2025

Long

4,116

S&P

500

Micro

E-Mini;

December

2025

Long

S&P

Mid

Emini;

December

2025

Short

(1) S&P

Mid

Emini;

December

2025

Long

994

S&P/TSX

Index;

December

2025

Long

1,054

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Futures

Contracts

(continued)

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

SET50

Index;

December

2025

Long

$

$

(2) SGX

Iron

Ore

62%;

January

2026

(a) Long

971

(3) Short

Term

Euro-BTP;

December

2025

Long

16,439

Silver;

March

2026

(a) Long

1,715

Silver;

May

2026

(a) Long

576

South

African

Rand;

December

2025

Long

—

Soybean

Future;

January

2026

(a) Long

(3) Soybean

Future;

March

2026

(a) Long

1,718

Soybean

Future;

May

2026

(a) Long

Soybean

Future;

November

2026

(a) Long

Soybean

Meal;

January

2026

(a) Short

637

(32) Soybean

Meal;

March

2026

(a) Short

Soybean

Oil;

December

2026

(a) Long

Soybean

Oil;

January

2026

(a) Long

Soybean

Oil;

March

2026

(a) Short

(1) Soybean

Oil;

March

2026

(a) Long

—

Soybean

Oil;

May

2026

(a) Long

—

SPI

Index;

December

2025

Long

1,271

(38) Stoxx

50;

December

2025

Long

Stoxx

600

Bank;

December

2025

Long

Stoxx

600

Insurance;

December

2025

Long

Stoxx

600

Utilities;

December

2025

Long

Stoxx

Europe

600;

December

2025

Long

1,038

Sugar

#11;

July

2026

(a) Short

Sugar

#11;

March

2026

(a) Short

699

Sugar

#11;

May

2026

(a) Short

Sugar

#11;

October

2026

(a) Short

SX5E

Dividend;

December

2026

Long

TTF

Natural

Gas;

January

2026

(a) Short

UK

Year

Gilt;

March

2026

Short

1,818

(21) UK

Year

Gilt;

March

2026

Long

1,697

UK

Natural

Gas;

January

2026

(a) Short

US

Year

Treasury

Note;

March

2026

Long

21,988

US

Year

Treasury

Ultra

Note;

March

2026

Short

5,810

(9) US

Year

Treasury

Ultra

Note;

March

2026

Long

4,183

US

Year

Treasury

Note;

March

2026

Short

21,513

(1) US

Year

Treasury

Note;

March

2026

Long

29,032

(4) US

Year

Treasury

Note;

March

2026

Long

—

US

Year

Treasury Note;

March

2026

Long

37,870

—

US

Dollar;

December

2025

Long

—

US

Long

Bond;

March

2026

Short

1,292

(1) US

Long

Bond;

March

2026

Long

5,402

(2) US

Ultra

Bond;

March

2026

Short

2,297

(5) Wheat;

July

2026

(a) Short

—

Wheat;

March

2026

(a) Short

Wheat;

March

2026

(a) Long

(1) Wheat;

May

2026

(a) Short

White

Maize-SAF;

March

2026

(a) Short

(2) White

Sugar;

March

2026

(a) Short

(6) White

Sugar;

May

2026

(a) Short

(4) WIG20

Index;

December

2025

Long

WTI

Crude;

April

2026

(a) Short

WTI

Crude;

April

2026

(a) Short

—

WTI

Crude;

December

2026

(a) Short

WTI

Crude;

February

2026

(a) Short

(1) WTI

Crude;

February

2026

(a) Short

WTI

Crude;

January

2026

(a) Short

WTI

Crude;

January

2026

(a) Short

WTI

Crude;

March

2026

(a) Short

WTI

Crude;

March

2026

(a) Short

—

XAB

Materials;

December

2025

Short

—

XAE

Energy;

December

2025

Long

—

XAF

Financial;

December

2025

Long

(1) XAK

Technology;

December

2025

Long

(1) XAP

Consumer

Staples;

December

2025

Short

(4) XAV

Health

Care;

December

2025

Long

Yellow

Maize-SAF;

March

2026

(a) Long

Total

$

1,516

Amounts

in

thousands

except

contracts.

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

(a) All

or

a

portion

of

this

security

is

owned

by

the

GMS

Cayman

Corporation,

which

is

a

wholly-owned

subsidiary

of

the

Fund.

Foreign

Currency

Contracts

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Bank

of

America

NA

12/17/2025

AUD

5,696

$

3,771

$

$

(43) Bank

of

America

NA

12/17/2025

GBP

5,984

$

8,059

(145) Bank

of

America

NA

12/17/2025

CAD

4,202

$

3,012

(8) Bank

of

America

NA

12/17/2025

EUR

7,258

$

8,529

(99) Bank

of

America

NA

12/17/2025

JPY

345,635

$

2,278

(64) Bank

of

America

NA

12/17/2025

MXN

46,805

$

2,499

—

Bank

of

America

NA

12/17/2025

NZD

3,132

$

1,827

(36) Bank

of

America

NA

12/17/2025

CHF

4,482

$

5,678

(87) Bank

of

America

NA

12/17/2025

$

7,414

EUR

6,385

(17) Bank

of

America

NA

12/17/2025

$

4,615

CHF

3,686

(6) Bank

of

America

NA

12/17/2025

$

8,682

CAD

12,052

(7) Bank

of

America

NA

12/17/2025

$

7,510

JPY

1,130,323

—

Bank

of

America

NA

12/17/2025

$

3,728

NZD

6,393

(5) Bank

of

America

NA

12/17/2025

$

6,691

GBP

5,048

(26) Bank

of

America

NA

12/17/2025

$

735

MXN

13,682

—

(11) Bank

of

America

NA

12/17/2025

$

3,564

AUD

5,467

(21) Barclays

Bank

PLC

12/01/2025

EUR

500

NOK

5,900

—

(3) Barclays

Bank

PLC

12/02/2025

GBP

EUR

—

—

Barclays

Bank

PLC

12/02/2025

EUR

625

NOK

7,351

—

(1) BNP

Paribas

12/03/2025

$

5,361

CAD

7,500

—

(6) BNP

Paribas

12/23/2025

CZK

2,310

$

—

—

BNP

Paribas

12/23/2025

NOK

3,393

$

—

BNP

Paribas

12/23/2025

SEK

1,150

$

—

BNP

Paribas

12/23/2025

$

2,256

CZK

47,430

—

(22) BNP

Paribas

12/23/2025

$

1,715

NOK

17,574

—

(23) BNP

Paribas

12/23/2025

$

3,293

SEK

31,489

—

(48) BNP

Paribas

12/24/2025

AUD

$

—

BNP

Paribas

12/24/2025

GBP

$

—

—

BNP

Paribas

12/24/2025

CAD

1,615

$

1,147

—

BNP

Paribas

12/24/2025

EUR

$

—

—

BNP

Paribas

12/24/2025

IDR

67,084,604

$

4,001

—

BNP

Paribas

12/24/2025

MXN

2,031

$

—

—

BNP

Paribas

12/24/2025

NZD

$

—

BNP

Paribas

12/24/2025

RON

$

—

—

BNP

Paribas

12/24/2025

ZAR

1,898

$

—

—

BNP

Paribas

12/24/2025

$

NZD

—

(1) BNP

Paribas

12/24/2025

$

AUD

—

—

BNP

Paribas

12/24/2025

$

CHF

—

—

BNP

Paribas

12/24/2025

$

609

GBP

—

(3) BNP

Paribas

12/24/2025

$

2,243

ZAR

38,987

—

(32) BNP

Paribas

12/24/2025

$

RON

—

—

BNP

Paribas

01/14/2026

$

2,472

CAD

3,480

—

(24) BNP

Paribas

04/10/2026

$

1,633

JPY

244,300

—

Citigroup

Inc

12/17/2025

$

EUR

—

(1) Citigroup

Inc

01/15/2026

TRY

106,700

$

2,414

—

Citigroup

Inc

01/15/2026

$

COP

1,601,800

—

(9) Citigroup

Inc

01/15/2026

$

4,814

EUR

4,168

—

(34) Citigroup

Inc

01/15/2026

$

2,630

PEN

8,904

—

(16) Credit

Agricole

CIB

12/23/2025

SEK

$

—

—

Credit

Agricole

CIB

12/23/2025

$

SEK

629

—

(1) Credit

Agricole

CIB

12/24/2025

CAD

$

—

Credit

Agricole

CIB

12/24/2025

INR

113,216

$

1,275

—

(10) Credit

Agricole

CIB

12/24/2025

JPY

603,585

$

3,850

—

Credit

Agricole

CIB

12/24/2025

TWD

3,367

$

—

—

Credit

Agricole

CIB

12/24/2025

CHF

$

—

Credit

Agricole

CIB

12/24/2025

THB

68,650

$

2,115

—

Credit

Agricole

CIB

12/24/2025

$

1,254

KRW

1,834,210

—

Credit

Agricole

CIB

12/24/2025

$

1,028

THB

33,127

—

(3) Credit

Agricole

CIB

12/24/2025

$

2,533

CHF

2,037

—

(11) Credit

Agricole

CIB

12/24/2025

$

NZD

783

—

(5) Credit

Agricole

CIB

12/24/2025

$

GBP

—

(2) Credit

Agricole

CIB

12/24/2025

$

EUR

—

—

Credit

Agricole

CIB

12/24/2025

$

2,904

AUD

4,511

—

(51) Credit

Agricole

CIB

01/13/2026

$

7,525

JPY

1,120,300

—

Credit

Agricole

CIB

02/02/2026

$

1,008

JPY

153,800

—

Credit

Agricole

CIB

02/24/2026

$

3,024

JPY

465,600

—

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Foreign

Currency

Contracts

(continued)

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Credit

Agricole

CIB

04/10/2026

$

2,231

JPY

337,400

$

$

—

Deutsche

Bank

AG

12/01/2025

CAD

AUD

—

—

Deutsche

Bank

AG

12/02/2025

AUD

NZD

—

—

Deutsche

Bank

AG

12/05/2025

CLP

94,080

$

—

Deutsche

Bank

AG

12/09/2025

CLP

188,959

$

—

Deutsche

Bank

AG

12/12/2025

CLP

94,173

$

—

Deutsche

Bank

AG

12/12/2025

$

TWD

3,093

—

Deutsche

Bank

AG

12/12/2025

$

KRW

145,430

—

Deutsche

Bank

AG

12/15/2025

$

COP

749,846

—

—

Deutsche

Bank

AG

12/17/2025

TWD

3,105

$

—

(1) Deutsche

Bank

AG

12/17/2025

$

EUR

—

Deutsche

Bank

AG

12/19/2025

COP

378,663

$

—

Deutsche

Bank

AG

12/19/2025

TWD

3,101

$

—

(1) Deutsche

Bank

AG

12/22/2025

TWD

6,230

$

—

(2) Deutsche

Bank

AG

12/22/2025

$

KRW

146,455

—

—

Deutsche

Bank

AG

12/26/2025

CLP

94,191

$

—

Deutsche

Bank

AG

12/26/2025

$

INR

35,765

—

—

Deutsche

Bank

AG

12/31/2025

$

600

INR

53,637

—

Deutsche

Bank

AG

01/02/2026

$

COP

376,443

—

—

Deutsche

Bank

AG

01/02/2026

$

600

INR

53,723

—

—

Goldman

Sachs

&

Co

12/15/2025

$

EUR

—

Goldman

Sachs

&

Co

12/16/2025

$

1,195

EUR

1,023

—

Goldman

Sachs

&

Co

12/17/2025

$

1,411

GBP

1,051

—

Goldman

Sachs

&

Co

12/18/2025

$

1,344

GBP

992

—

Goldman

Sachs

&

Co

01/15/2026

EUR

635

$

738

—

Goldman

Sachs

&

Co

01/15/2026

ZAR

6,730

$

—

Goldman

Sachs

&

Co

01/15/2026

$

538

MXN

9,975

—

(5) HSBC

Securities

Inc

12/17/2025

$

6,110

EUR

5,252

(1) HSBC

Securities

Inc

01/15/2026

CZK

47,120

$

2,242

—

HSBC

Securities

Inc

01/15/2026

EUR

3,533

$

4,101

—

HSBC

Securities

Inc

01/15/2026

HUF

198,011

$

599

—

HSBC

Securities

Inc

01/15/2026

PLN

1,400

$

—

HSBC

Securities

Inc

01/15/2026

$

1,647

COP

6,260,879

(14) JPMorgan

Chase

12/01/2025

AUD

CAD

—

—

JPMorgan

Chase

12/01/2025

GBP

CHF

—

—

JPMorgan

Chase

12/01/2025

EUR

HUF

38,166

—

—

JPMorgan

Chase

12/01/2025

HUF

38,157

EUR

—

—

JPMorgan

Chase

12/01/2025

NOK

5,887

EUR

500

—

JPMorgan

Chase

12/01/2025

CHF

GBP

—

—

JPMorgan

Chase

12/02/2025

GBP

CHF

—

—

JPMorgan

Chase

12/02/2025

EUR

HUF

38,149

—

—

JPMorgan

Chase

12/02/2025

HUF

38,142

EUR

—

—

JPMorgan

Chase

12/02/2025

JPY

54,339

EUR

—

—

JPMorgan

Chase

12/04/2025

TWD

9,216

$

—

(6) JPMorgan

Chase

12/04/2025

$

TWD

9,357

—

JPMorgan

Chase

12/05/2025

$

CLP

94,603

—

(2) JPMorgan

Chase

12/08/2025

KRW

733,472

$

500

—

(1) JPMorgan

Chase

12/08/2025

$

500

KRW

722,593

—

JPMorgan

Chase

12/09/2025

CLP

189,202

$

—

JPMorgan

Chase

12/09/2025

COP

1,164,376

$

—

JPMorgan

Chase

12/09/2025

$

CLP

377,637

—

(7) JPMorgan

Chase

12/09/2025

$

COP

1,127,234

—

—

JPMorgan

Chase

12/10/2025

INR

116,076

$

1,300

—

(3) JPMorgan

Chase

12/10/2025

$

1,300

INR

115,381

—

JPMorgan

Chase

12/12/2025

TWD

3,139

$

—

—

JPMorgan

Chase

12/12/2025

KRW

3,236,286

$

2,200

—

JPMorgan

Chase

12/12/2025

$

CLP

93,937

—

(1) JPMorgan

Chase

12/12/2025

$

2,100

KRW

3,052,388

—

JPMorgan

Chase

12/12/2025

$

2,600

INR

230,970

—

JPMorgan

Chase

12/15/2025

AUD

5,000

CAD

4,591

—

(13) JPMorgan

Chase

12/15/2025

AUD

3,400

$

2,234

(8) JPMorgan

Chase

12/15/2025

AUD

10,800

NZD

12,464

—

(81) JPMorgan

Chase

12/15/2025

AUD

3,400

JPY

344,327

—

JPMorgan

Chase

12/15/2025

GBP

1,625

$

2,139

—

JPMorgan

Chase

12/15/2025

GBP

1,250

AUD

2,501

—

JPMorgan

Chase

12/15/2025

GBP

CHF

—

JPMorgan

Chase

12/15/2025

GBP

617

EUR

700

—

JPMorgan

Chase

12/15/2025

GBP

2,625

JPY

533,054

—

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Foreign

Currency

Contracts

(continued)

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

JPMorgan

Chase

12/15/2025

CAD

4,000

JPY

442,058

$

$

—

JPMorgan

Chase

12/15/2025

CAD

EUR

—

JPMorgan

Chase

12/15/2025

CAD

600

$

—

JPMorgan

Chase

12/15/2025

CAD

AUD

—

—

JPMorgan

Chase

12/15/2025

CNH

51,091

$

7,200

—

JPMorgan

Chase

12/15/2025

COP

750,611

$

—

—

JPMorgan

Chase

12/15/2025

EUR

HUF

114,697

—

—

JPMorgan

Chase

12/15/2025

EUR

3,125

CAD

5,084

—

(12) JPMorgan

Chase

12/15/2025

EUR

SEK

1,374

—

—

JPMorgan

Chase

12/15/2025

EUR

3,500

$

4,070

(9) JPMorgan

Chase

12/15/2025

EUR

PLN

846

—

—

JPMorgan

Chase

12/15/2025

EUR

1,875

AUD

3,325

(3) JPMorgan

Chase

12/15/2025

EUR

4,300

GBP

3,804

—

(42) JPMorgan

Chase

12/15/2025

EUR

1,750

NOK

20,687

—

(13) JPMorgan

Chase

12/15/2025

EUR

3,100

JPY

556,897

—

JPMorgan

Chase

12/15/2025

HUF

308,101

EUR

800

—

JPMorgan

Chase

12/15/2025

HUF

695,515

$

2,100

—

JPMorgan

Chase

12/15/2025

ILS

3,847

$

1,200

(19) JPMorgan

Chase

12/15/2025

JPY

71,996

EUR

—

(3) JPMorgan

Chase

12/15/2025

JPY

76,880

GBP

—

(3) JPMorgan

Chase

12/15/2025

JPY

210,168

NZD

2,400

—

(30) JPMorgan

Chase

12/15/2025

JPY

175,000

$

1,131

—

(10) JPMorgan

Chase

12/15/2025

MXN

74,500

$

4,063

—

JPMorgan

Chase

12/15/2025

TWD

3,093

$

—

(1) JPMorgan

Chase

12/15/2025

NZD

7,103

AUD

6,200

—

JPMorgan

Chase

12/15/2025

NZD

700

$

—

JPMorgan

Chase

12/15/2025

NOK

20,105

$

2,000

—

(12) JPMorgan

Chase

12/15/2025

NOK

4,393

EUR

—

(1) JPMorgan

Chase

12/15/2025

PLN

2,968

EUR

700

—

—

JPMorgan

Chase

12/15/2025

PLN

8,370

$

2,300

—

(7) JPMorgan

Chase

12/15/2025

SGD

5,716

$

4,400

—

JPMorgan

Chase

12/15/2025

ZAR

62,993

$

3,692

(16) JPMorgan

Chase

12/15/2025

SEK

26,161

NOK

28,000

—

JPMorgan

Chase

12/15/2025

SEK

25,971

EUR

2,375

—

(4) JPMorgan

Chase

12/15/2025

SEK

19,705

$

2,100

—

(10) JPMorgan

Chase

12/15/2025

CHF

2,375

$

3,001

—

(37) JPMorgan

Chase

12/15/2025

CHF

1,304

GBP

1,250

—

(28) JPMorgan

Chase

12/15/2025

CHF

5,081

EUR

5,500

—

(49) JPMorgan

Chase

12/15/2025

CHF

2,250

JPY

437,624

(1) JPMorgan

Chase

12/15/2025

$

500

SEK

4,759

—

(5) JPMorgan

Chase

12/15/2025

$

1,500

TRY

65,001

—

(14) JPMorgan

Chase

12/15/2025

$

5,135

CAD

7,200

—

(21) JPMorgan

Chase

12/15/2025

$

CNH

2,128

—

(2) JPMorgan

Chase

12/15/2025

$

1,555

CHF

1,250

(5) JPMorgan

Chase

12/15/2025

$

ILS

—

—

JPMorgan

Chase

12/15/2025

$

912

AUD

1,400

—

(6) JPMorgan

Chase

12/15/2025

$

TWD

3,132

—

—

JPMorgan

Chase

12/15/2025

$

1,927

EUR

1,660

(4) JPMorgan

Chase

12/15/2025

$

GBP

—

(1) JPMorgan

Chase

12/15/2025

$

ZAR

5,024

—

(1) JPMorgan

Chase

12/15/2025

$

2,597

JPY

400,000

—

JPMorgan

Chase

12/15/2025

$

1,030

MXN

19,000

—

(7) JPMorgan

Chase

12/15/2025

$

2,331

NZD

4,100

—

(24) JPMorgan

Chase

12/17/2025

$

2,100

INR

186,460

—

JPMorgan

Chase

12/17/2025

$

2,227

EUR

1,941

—

(27) JPMorgan

Chase

12/18/2025

CAD

$

—

(1) JPMorgan

Chase

12/18/2025

$

CAD

—

JPMorgan

Chase

12/19/2025

$

COP

375,158

—

—

JPMorgan

Chase

12/22/2025

COP

1,504,774

$

—

—

JPMorgan

Chase

12/22/2025

TWD

9,344

$

—

(2) JPMorgan

Chase

12/22/2025

$

COP

751,425

—

—

JPMorgan

Chase

12/24/2025

$

500

KRW

732,875

—

—

JPMorgan

Chase

12/26/2025

CLP

187,820

$

—

JPMorgan

Chase

12/26/2025

$

2,200

KRW

3,234,260

—

(6) JPMorgan

Chase

12/26/2025

$

TWD

3,136

—

—

JPMorgan

Chase

12/31/2025

TWD

3,128

$

—

—

JPMorgan

Chase

12/31/2025

$

1,300

INR

116,214

—

JPMorgan

Chase

03/17/2026

HKD

$

—

—

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Foreign

Currency

Contracts

(continued)

Unrealized

Appreciation/(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

JPMorgan

Chase

03/17/2026

$

HKD

2,860

$

—

$

—

Merrill

Lynch

12/05/2025

$

EUR

—

Merrill

Lynch

01/30/2026

$

EUR

—

RBC

Dominon

Securities

Corp

12/23/2025

HUF

254,933

$

764

—

RBC

Dominon

Securities

Corp

12/23/2025

PHP

109,465

$

1,855

—

RBC

Dominon

Securities

Corp

12/23/2025

PLN

2,065

$

559

—

RBC

Dominon

Securities

Corp

12/23/2025

$

PHP

23,135

—

(2) RBC

Dominon

Securities

Corp

12/23/2025

$

PLN

—

—

RBC

Dominon

Securities

Corp

12/24/2025

BRL

7,458

$

1,386

—

RBC

Dominon

Securities

Corp

12/24/2025

CAD

820

$

584

—

RBC

Dominon

Securities

Corp

12/24/2025

CLP

103,186

$

—

—

RBC

Dominon

Securities

Corp

12/24/2025

CNH

780

$

—

—

RBC

Dominon

Securities

Corp

12/24/2025

COP

2,483,042

$

660

—

(1) RBC

Dominon

Securities

Corp

12/24/2025

EUR

1,161

$

1,339

—

RBC

Dominon

Securities

Corp

12/24/2025

INR

9,722

$

—

—

RBC

Dominon

Securities

Corp

12/24/2025

TWD

21,016

$

675

—

(6) RBC

Dominon

Securities

Corp

12/24/2025

NZD

1,800

$

1,009

—

RBC

Dominon

Securities

Corp

12/24/2025

PEN

$

—

—

RBC

Dominon

Securities

Corp

12/24/2025

KRW

156,039

$

—

—

RBC

Dominon

Securities

Corp

12/24/2025

$

1,553

CLP

1,450,824

—

(12) RBC

Dominon

Securities

Corp

12/24/2025

$

INR

5,951

—

RBC

Dominon

Securities

Corp

12/24/2025

$

2,191

PEN

7,393

—

(7) RBC

Dominon

Securities

Corp

12/24/2025

$

COP

258,833

—

—

RBC

Dominon

Securities

Corp

12/24/2025

$

BRL

—

—

RBC

Dominon

Securities

Corp

12/24/2025

$

TWD

2,061

—

RBC

Dominon

Securities

Corp

12/24/2025

$

1,313

CNH

9,320

—

(8) RBC

Dominon

Securities

Corp

12/24/2025

$

GBP

—

(4) RBC

Dominon

Securities

Corp

12/24/2025

$

627

MXN

11,631

—

(7) RBC

Dominon

Securities

Corp

12/24/2025

$

KRW

95,522

—

—

RBC

Dominon

Securities

Corp

01/14/2026

$

4,991

CAD

7,000

—

(31) Total

$

1,749

$

(1,541)

Amounts

in

thousands.

Credit

Default

Swaps

Buy

Protection

Counterparty

Reference

Entity

Implied

Credit

Spread

as

of

November

30,

2025

(a) (Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Premiums

Paid/

(Received)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

Asset

----

Liability

Goldman

Sachs

&

Co

Bank

of

China

Ltd/Hong

Kong,

4.71%,

06/14/2027

0.22%

(1.00)%

Quarterly

12/20/2026

$

2,650

$

(17) $

(5) $

—

$

(22) Goldman

Sachs

&

Co

China

Construction

Bank

/London,

3.13%,

05/17/2025

0.17%

(1.00)%

Quarterly

12/20/2026

2,650

(17) (6) —

(23) Goldman

Sachs

&

Co

China

Development

Bank,

3.00%,

06/01/2026

0.24%

(1.00)%

Quarterly

12/20/2026

2,150

(14) (3) —

(17) Goldman

Sachs

&

Co

Industrial

&

Commercial

Bank

of

China

Ltd/Hong

Kong,

1.63%,

10/28/2026

0.19%

(1.00)%

Quarterly

12/20/2026

2,650

(17) (6) —

(23) Total

$

(65) $

(20) $

—

$

(85) Amounts

in

thousands.

Exchange

Cleared

Credit

Default

Swaps

Buy

Protection

Reference

Entity

Implied

Credit

Spread

as

of

November

30,

2025

(a) (Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Premiums

Paid/

(Received)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

CDX.NA.HY.45

N/A

(5.00)%

Quarterly

12/20/2030

$

9,780

$

(686) $

(43) $

(729) Republic

of

Colombia,

10.38%,

01/28/2033

2.01%

(1.00)%

Quarterly

12/20/2030

1,300

(3) 59

Total

$

(624) $

(46) $

(670) Amounts

in

thousands.

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

(a) Implied

credit

spreads,

represented

in

absolute

terms,

used

in

determining

the

fair

value

of

credit

default

swap

agreements

on

corporate

issues

or

sovereign

issues

as

of

period

end

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Exchange

Cleared

Interest

Rate

Swaps

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a) Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Premiums

Paid/(Received)

Fair

Value

Day

MXN

TIIE

Banxico

Receive

0.00%

Monthly

Monthly

N/A

12/17/2025

MXN

195,000

$

$

$

Day

MXN

TIIE

Banxico

Pay

0.00%

Monthly

Monthly

N/A

12/17/2025

195,000

(4) (58) (62) 3

Month

KRW

Certificate

of

Deposit

Pay

2.31%

Quarterly

Quarterly

N/A

09/17/2027

KRW

14,400,000

(103) —

(103) 6

Month

Prague

Interbank

Offered

Rate

Pay

3.72%

Semiannual

Annual

N/A

12/17/2030

CZK

28,544

(16) —

(16) 6

Month

Prague

Interbank

Offered

Rate

Pay

3.98%

Semiannual

Annual

N/A

03/18/2031

55,000

(3) 1

(2) Colombia

IBR

Overnight

Interbank

Reference

Rate

Pay

8.98%

Quarterly

Quarterly

N/A

12/17/2027

COP

2,807,000

(12) —

(12) Shekel

Overnight

Interest

Rate

Pay

3.74%

Annual

Annual

N/A

12/17/2030

ILS

11,100

—

Total

$

(115) $

—

$

(115) Amounts

in

thousands.

(a)&nbsp;&nbsp;&nbsp;&nbsp;

Forward

swap.

Total

Return

Swaps

Counterparty

Fund

Pays

Fund

Receives

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Premiums

Paid/

(Received)

Value

and

Unrealized

Appreciation/

(Depreciation)

Asset

Liability

Citigroup

Inc

Secured

Overnight

Financing

Rate

+

0.85%

Nigeria

OMO

Bill,

0.00%,

04/14/2026

Annual

04/14/2026

NGN

521,000

$

—

$

—

$

—

Citigroup

Inc

Secured

Overnight

Financing

Rate

+

0.85%

Nigeria

OMO

Bill,

0.00%,

05/05/2026

Annual

05/05/2026

115,125

—

—

—

Goldman

Sachs

&

Co

(a) Overnight

Bank

Funding

Rate

plus/less

spread

Total

return

on

a

custom

basket

of

long

securities

traded

in

foreign

currencies

but

settle

in

USD

Monthly

12/31/2025-

10/28/2026

$

27,289

—

746

—

HSBC

Securities

Inc

US

Federal

Funds

Effective

Rate

+

0.00%

Zambia

Government

Bond,

13.00%,

12/18/2027

Annual

12/20/2027

ZMW

5,030

—

—

JPMorgan

Chase

Secured

Overnight

Financing

Rate

+

0.60%

Egypt

Treasury

Bill,

0.00%,

12/16/2025

Annual

12/16/2025

EGP

19,200

—

—

JPMorgan

Chase

Secured

Overnight

Financing

Rate

+

0.075%

Nigeria

OMO

Bill,

0.00%,

01/08/2026

Annual

01/06/2026

NGN

243,000

—

—

JPMorgan

Chase

Secured

Overnight

Financing

Rate

+

0.85%

Nigeria

OMO

Bill,

0.00%,

02/03/2026

Annual

02/03/2026

90,000

—

—

—

JPMorgan

Chase

Secured

Overnight

Financing

Rate

+

0.85%

Nigeria

OMO

Bill,

0.00%,

03/10/2026

Annual

03/10/2026

205,000

—

—

JPMorgan

Chase

Secured

Overnight

Financing

Rate

+

0.85%

Nigeria

OMO

Bill,

0.00%,

04/21/2026

Annual

04/21/2026

130,000

—

—

JPMorgan

Chase

(b) Overnight

Bank

Funding

Rate

plus/less

spread

Total

return

on

a

custom

basket

of

long

and

short

securities

traded

in

foreign

currencies

but

settle

in

USD

Monthly

12/29/2025-

03/10/2026

$

6,400

—

—

(357) Morgan

Stanley

&

Co

(c) 1

Day

Federal

Funds

Rate

plus/less

spread

Total

return

on

a

custom

basket

of

long

and

short

securities

traded

in

USD

Monthly

07/29/2026

94,131

—

6,383

—

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Total

Return

Swaps

(continued)

Counterparty

Fund

Pays

Fund

Receives

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Premiums

Paid/

(Received)

Value

and

Unrealized

Appreciation/

(Depreciation)

Asset

Liability

Morgan

Stanley

&

Co

(d) 1

Day

Federal

Funds

Rate

plus/less

spread

Total

return

on

a

custom

basket

of

long

and

short

securities

traded

in

USD

Monthly

09/06/2028

$

28,305

$

—

$

—

$

(97) Total

$

—

$

7,290

$

(454) The

maturity

dates

are

measured

from

the

commencement

of

investment

in

each

underlying

position

of

a

custom

basket.

The

spread

for

a

custom

basket

is

negotiated

at

the

security

level

and

is

usually

similar

within

a

region

but

may

vary.

Notional

Amount

represents

the

total

absolute

value

of

the

underlying

securities

in

a

custom

basket.

Top

Underlying

Securities

includes

the

largest

components

and

any

other

components

where

the

notional

exceeds

1%

of

the

notional

amount

of

the

custom

basket.

Amounts

in

thousands.

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Description

Shares

Notional

Amount

%

of

Total

Absolute

Notional

Amount

Palo

Alto

Networks

Inc

(18,175)

$

(3,456)

(12.66)%

Frontier

Communications

Parent

Inc

75,832

2,876

10.54%

Chart

Industries

Inc

13,046

2,661

9.75%

Keurig

Dr

Pepper

Inc

58,919

1,644

6.02%

Union

Pacific

Corp

(6,347)

(1,471)

(5.39)%

Fifth

Third

Bancorp

(33,842)

(1,471)

(5.39)%

Spectris

PLC

23,795

1,302

4.77%

IAC

Inc

33,914

1,189

4.36%

Covestro

AG

16,494

1,185

4.34%

Dayforce

Inc

15,204

1,051

3.85%

Kellanova

11,305

946

3.47%

Just

Group

PLC

326,807

928

3.40%

Merus

NV

9,037

869

3.18%

Kraft

Heinz

Co/The

32,000

816

2.99%

Charter

Communications

Inc

(3,429)

(686)

(2.51)%

Comcast

Corp

-

Class

A

21,300

568

2.08%

Vivendi

SE

193,806

566

2.07%

Coeur

Mining

Inc

(31,198)

(539)

(1.98)%

Honeywell

International

Inc

2,700

519

1.90%

Boeing

Co/The

(2,180)

(412)

(1.51)%

Huntington

Bancshares

Inc/OH

(21,261)

(347)

(1.27)%

Gildan

Activewear

Inc

(6,037)

(337)

(1.23)%

Universal

Music

Group

NV

(12,665)

(324)

(1.19)%

PotlatchDeltic

Corp

7,878

1.16%

Rayonier

Inc

(12,150)

(270)

(0.99)%

Coinshares

International

Ltd

16,151

0.82%

State

Street

Consumer

Staples

Select

Sector

SPDR

ETF

(1,699)

(135)

(0.50)%

Anglo

American

PLC

(2,253)

(85)

(0.31)%

Anglo

American

PLC

(3,473)

(66)

(0.24)%

Solstice

Advanced

Materials

Inc

675

0.12%

Description

Shares

Notional

Amount

%

of

Total

Absolute

Notional

Amount

CyberArk

Software

Ltd

7,546

$

3,461

54.07%

Dayforce

Inc

15,202

1,050

16.41%

Union

Pacific

Corp

(2,910)

(675)

(10.54)%

Anglo

American

PLC

(9,391)

(354)

(5.54)%

Palo

Alto

Networks

Inc

(1,855)

(353)

(5.51)%

Hang

Seng

Bank

Ltd

17,700

5.41%

Coeur

Mining

Inc

(5,804)

(100)

(1.56)%

Vivendi

SE

11,673

0.53%

Fifth

Third

Bancorp

(626) (27)

(0.43)%

Huntington

Bancshares

Inc/OH

(11) —

0.00%

(a) Top

Underlying

Securities

WESTGSUSD

(b) Top

Underlying

Securities

WESEBSUSD

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Description

Shares

Notional

Amount

%

of

Total

Absolute

Notional

Amount

Microsoft

Corp

2,247

$

1,106

1.17%

NVIDIA

Corp

6,220

1,101

1.17%

Alphabet

Inc

-

A

Shares

3,380

1,082

1.15%

Apple

Inc

2,746

766

0.81%

Teradyne

Inc

(4,082)

(742)

(0.79)%

AES

Corp/The

(51,827)

(729)

(0.77)%

McCormick

&

Co

Inc/MD

(10,387)

(701)

(0.74)%

Akamai

Technologies

Inc

(7,427)

(665)

(0.71)%

Western

Digital

Corp

4,006

654

0.70%

Albemarle

Corp

(5,011)

(651)

(0.69)%

Southwest

Airlines

Co

(18,302)

(637)

(0.68)%

Henry

Schein

Inc

(8,475)

(632)

(0.67)%

EOG

Resources

Inc

(5,799)

(625)

(0.67)%

Lennox

International

Inc

(1,226)

(612)

(0.65)%

Axon

Enterprise

Inc

(1,084)

(586)

(0.62)%

Aon

PLC

(1,595)

(565)

(0.60)%

Healthpeak

Properties

Inc

(30,855)

(563)

(0.60)%

Dow

Inc

(23,439)

(559)

(0.59)%

Mosaic

Co/The

(22,332)

(547)

(0.58)%

Norwegian

Cruise

Line

Holdings

Ltd

(29,267)

(540)

(0.57)%

PACCAR

Inc

(4,964)

(523)

(0.56)%

Lululemon

Athletica

Inc

(2,825)

(520)

(0.55)%

Fidelity

National

Information

Services

Inc

(7,873)

(518)

(0.55)%

Equifax

Inc

(2,405)

(511)

(0.54)%

Trade

Desk

Inc/The

(12,703)

(503)

(0.53)%

Vertex

Pharmaceuticals

Inc

(1,137)

(493)

(0.52)%

Broadcom

Inc

1,207

0.52%

Microchip

Technology

Inc

(8,998)

(482)

(0.51)%

Packaging

Corp

of

America

(2,301)

(470)

(0.50)%

Carrier

Global

Corp

(8,500)

(466)

(0.49)%

Chevron

Corp

(3,073)

(464)

(0.49)%

Tractor

Supply

Co

(8,385)

(459)

(0.49)%

Take-Two

Interactive

Software

Inc

(1,835)

(452)

(0.48)%

Adobe

Inc

1,401

0.48%

MSCI

Inc

(790) (445)

(0.47)%

TransDigm

Group

Inc

(327) (445)

(0.47)%

Amcor

PLC

(52,047)

(443)

(0.47)%

Boeing

Co/The

(2,303)

(435)

(0.46)%

Quanta

Services

Inc

(932) (433)

(0.46)%

3M

Co

(2,507)

(431)

(0.46)%

Phillips

(3,137)

(430)

(0.46)%

Tyler

Technologies

Inc

(906) (425)

(0.45)%

NIKE

Inc

(6,540)

(423)

(0.45)%

Intel

Corp

(10,216)

(414)

(0.44)%

First

Solar

Inc

(1,518)

(414)

(0.44)%

Allstate

Corp/The

(1,930)

(411)

(0.44)%

Hershey

Co/The

(2,168)

(408)

(0.43)%

Meta

Platforms

Inc

629

0.43%

Royal

Caribbean

Cruises

Ltd

(1,529)

(407)

(0.43)%

MGM

Resorts

International

(11,438)

(404)

(0.43)%

(c) Top

Underlying

Securities

GOTEBSUSD

Consolidated

Schedule

of

Investments

Global

Multi-Strategy

Fund

November

30,

2025

(unaudited)

Description

Shares

Notional

Amount

%

of

Total

Absolute

Notional

Amount

Deere

&

Co

(1,311)

$

(609)

(2.15)%

Diamondback

Energy

Inc

(3,685)

(562)

(1.98)%

Jack

Henry

&

Associates

Inc

(2,962)

(517)

(1.83)%

Washington

H

Soul

Pattinson

&

Co

Ltd

(17,171)

(425)

(1.51)%

Pembina

Pipeline

Corp

(10,100)

(392)

(1.38)%

Ingersoll

Rand

Inc

(4,584)

(368)

(1.30)%

Deutsche

Boerse

AG

(1,330)

(356)

(1.26)%

JFE

Holdings

Inc

(28,000)

(343)

(1.21)%

Secom

Co

Ltd

(10,100)

(341)

(1.21)%

Shimadzu

Corp

(11,600)

(331)

(1.17)%

Republic

Services

Inc

(1,355)

(294)

(1.04)%

Mitsubishi

HC

Capital

Inc

(36,100)

(289)

(1.02)%

Hyatt

Hotels

Corp

(1,657)

(272)

(0.96)%

Tourmaline

Oil

Corp

(5,900)

(272)

(0.96)%

Kyowa

Kirin

Co

Ltd

(15,900)

(268)

(0.95)%

Agilent

Technologies

Inc

(1,720)

(264)

(0.93)%

Tradeweb

Markets

Inc

(2,394)

(261)

(0.92)%

Zimmer

Biomet

Holdings

Inc

(2,638)

(257)

(0.91)%

Sea

Ltd

(1,782)

(248)

(0.88)%

ZOZO

Inc

(28,700)

(247)

(0.87)%

DuPont

de

Nemours

Inc

(5,987)

(238)

(0.84)%

Automatic

Data

Processing

Inc

(929) (237)

(0.84)%

Zoom

Communications

Inc

(2,777)

(236)

(0.83)%

Tyler

Technologies

Inc

(499) (234)

(0.83)%

Dollar

Tree

Inc

(2,096)

(232)

(0.82)%

Informa

PLC

(18,201)

(231)

(0.82)%

Canadian

Pacific

Kansas

City

Ltd

(3,100)

(225)

(0.79)%

EssilorLuxottica

SA

(624) (224)

(0.79)%

Ferrovial

SE

(3,257)

(213)

(0.76)%

Tenaris

SA

(10,401)

(210)

(0.74)%

Bentley

Systems

Inc

(4,956)

(208)

(0.73)%

Waste

Connections

Inc

(1,171)

(207)

(0.73)%

Swisscom

AG

(286) (205)

(0.72)%

CTS

Eventim

AG

&

Co

KGaA

(2,089)

(204)

(0.72)%

Alcon

AG

(2,562)

(204)

(0.72)%

Element

Fleet

Management

Corp

(7,600)

(202)

(0.71)%

LPL

Financial

Holdings

Inc

(563) (200)

(0.71)%

Fresenius

SE

&

Co

KGaA

(3,585)

(197)

(0.69)%

Prudential

Financial

Inc

(1,775)

(192)

(0.68)%

Martin

Marietta

Materials

Inc

(308) (192)

(0.68)%

National

Australia

Bank

Ltd

(7,194)

(189)

(0.67)%

Solventum

Corp

(2,187)

(186)

(0.66)%

SoFi

Technologies

Inc

(6,262)

(186)

(0.66)%

Rentokil

Initial

PLC

(33,771)

(186)

(0.66)%

Yamaha

Motor

Co

Ltd

(25,500)

(185)

(0.65)%

Danaher

Corp

(776) (176)

(0.62)%

Xero

Ltd

(2,187)

(175)

(0.62)%

Carlisle

Cos

Inc

(543) (173)

(0.61)%

Aflac

Inc

(1,550)

(171)

(0.61)%

Revvity

Inc

(1,634)

(171)

(0.60)%

(d) Top

Underlying

Securities

LACEBSUSD

Schedule

of

Investments

International

Equity

Index

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.99

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.82

%

iShares

MSCI

EAFE

ETF

(a) 296,274

$

28,202

Money

Market

Funds

-

.17

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.88%

(b),(c)

1,217,129

1,217

Principal

Government

Money

Market

Fund

-

Class

3.87%

(b),(d)

1,346,820

1,347

$

2,564

TOTAL

INVESTMENT

COMPANIES

$

30,766

COMMON

STOCKS

-

.36

%

Shares

Held

Value

(000's)

Advertising

-

.11

%

Publicis

Groupe

SA

17,441

$

1,702

Aerospace

&

Defense

-

.34

%

Airbus

SE

45,244

10,641

BAE

Systems

PLC

228,799

4,983

Dassault

Aviation

SA

1,493

Elbit

Systems

Ltd

2,116

993

Hensoldt

AG

4,840

IHI

Corp

78,400

1,399

Kawasaki

Heavy

Industries

Ltd

11,500

728

Leonardo

SpA

30,839

1,690

Melrose

Industries

PLC

96,080

758

MTU

Aero

Engines

AG

4,100

1,678

Rheinmetall

AG

3,503

5,991

Rolls-Royce

Holdings

PLC

640,830

9,045

Saab

AB

24,408

1,231

Safran

SA

27,417

9,216

Singapore

Technologies

Engineering

Ltd

119,000

764

Thales

SA

7,059

1,849

$

51,820

Agriculture

-

.03

%

British

American

Tobacco

PLC

166,451

9,773

Imperial

Brands

PLC

58,273

2,476

Japan

Tobacco

Inc

91,300

3,434

Wilmar

International

Ltd

146,500

$

16,050

Airlines

-

.28

%

ANA

Holdings

Inc

12,100

Deutsche

Lufthansa

AG

45,722

International

Consolidated

Airlines

Group

SA

89,983

Japan

Airlines

Co

Ltd

10,900

Qantas

Airways

Ltd

56,501

Ryanair

Holdings

PLC

64,242

2,104

Singapore

Airlines

Ltd

119,200

598

$

4,415

Apparel

-

.65

%

Adidas

AG

13,030

2,427

Asics

Corp

53,200

1,274

Hermes

International

SCA

2,411

5,884

Kering

SA

5,670

1,931

LVMH

Moet

Hennessy

Louis

Vuitton

SE

19,041

14,073

$

25,589

Automobile

Manufacturers

-

.47

%

Bayerische

Motoren

Werke

AG

21,378

2,185

Daimler

Truck

Holding

AG

36,205

1,532

Ferrari

NV

9,603

3,772

Honda

Motor

Co

Ltd

281,400

2,838

Isuzu

Motors

Ltd

40,500

621

Mercedes-Benz

Group

AG

54,952

3,711

Nissan

Motor

Co

Ltd

(a),(e)

169,800

Renault

SA

14,647

587

Stellantis

NV

153,646

1,645

Subaru

Corp

44,800

1,000

Suzuki

Motor

Corp

119,500

1,869

Toyota

Motor

Corp

721,600

14,556

Volvo

AB

-

B

Shares

121,058

3,631

$

38,361

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Automobile

Parts

&

Equipment

-

.66

%

Aisin

Corp

37,700

$

672

Bridgestone

Corp

43,500

2,041

Cie

Generale

des

Etablissements

Michelin

SCA

51,090

1,672

Continental

AG

8,382

624

Denso

Corp

132,900

1,750

Sumitomo

Electric

Industries

Ltd

54,300

2,140

Toyota

Industries

Corp

12,400

1,389

$

10,288

Banks

-

.26

%

ABN

AMRO

Bank

NV

(f) 44,436

1,506

AIB

Group

PLC

162,823

1,675

ANZ

Group

Holdings

Ltd

227,127

5,153

Banca

Mediolanum

SpA

17,040

Banca

Monte

dei

Paschi

di

Siena

SpA

150,496

1,424

Banco

Bilbao

Vizcaya

Argentaria

SA

438,821

9,484

Banco

BPM

SpA

86,594

1,248

Banco

Comercial

Portugues

SA

575,396

549

Banco

de

Sabadell

SA

382,818

1,392

Banco

Santander

SA

1,133,381

12,158

Bank

Hapoalim

BM

95,254

2,062

Bank

Leumi

Le-Israel

BM

113,381

2,378

Bank

of

Ireland

Group

PLC

72,649

1,346

Bankinter

SA

51,372

810

Banque

Cantonale

Vaudoise

2,295

Barclays

PLC

1,063,144

6,031

BNP

Paribas

SA

76,530

6,542

BOC

Hong

Kong

Holdings

Ltd

282,500

1,364

BPER

Banca

SPA

112,174

1,352

CaixaBank

SA

296,957

3,316

Chiba

Bank

Ltd/The

43,100

Commerzbank

AG

55,802

2,190

Commonwealth

Bank

of

Australia

127,419

12,734

Computershare

Ltd

39,666

932

Credit

Agricole

SA

81,248

1,557

Danske

Bank

A/S

50,902

2,338

DBS

Group

Holdings

Ltd

162,070

6,789

Deutsche

Bank

AG

140,887

4,995

DNB

Bank

ASA

67,558

1,806

Erste

Group

Bank

AG

23,462

2,564

FinecoBank

Banca

Fineco

SpA

46,602

1,146

Hang

Seng

Bank

Ltd

57,100

1,118

HSBC

Holdings

PLC

1,310,738

18,574

ING

Groep

NV

230,041

5,965

Intesa

Sanpaolo

SpA

1,084,469

7,035

Israel

Discount

Bank

Ltd

92,925

973

Japan

Post

Bank

Co

Ltd

135,900

1,635

KBC

Group

NV

17,500

2,154

Lloyds

Banking

Group

PLC

4,507,618

5,717

Macquarie

Group

Ltd

27,551

3,559

Mitsubishi

UFJ

Financial

Group

Inc

872,900

13,687

Mizrahi

Tefahot

Bank

Ltd

11,885

833

Mizuho

Financial

Group

Inc

189,580

6,686

National

Australia

Bank

Ltd

233,216

6,132

NatWest

Group

PLC

611,802

5,106

Nordea

Bank

Abp

236,457

4,184

Oversea-Chinese

Banking

Corp

Ltd

257,700

3,682

Raiffeisen

Bank

International

AG

10,018

Resona

Holdings

Inc

158,300

1,612

Skandinaviska

Enskilda

Banken

AB

115,360

2,296

Societe

Generale

SA

53,806

3,746

Standard

Chartered

PLC

148,177

3,282

Sumitomo

Mitsui

Financial

Group

Inc

279,000

8,442

Sumitomo

Mitsui

Trust

Group

Inc

48,288

1,403

Svenska

Handelsbanken

AB

111,145

1,543

Swedbank

AB

64,695

2,059

UBS

Group

AG

241,709

9,329

UniCredit

SpA

106,742

7,946

United

Overseas

Bank

Ltd

95,400

2,504

Westpac

Banking

Corp

260,429

6,415

Schedule

of

Investments

International

Equity

Index

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Banks

(continued)

Yokohama

Financial

Group

Inc

78,600

$

622

$

236,584

Beverages

-

.23

%

Anheuser-Busch

InBev

SA/NV

75,237

4,638

Asahi

Group

Holdings

Ltd

115,800

1,343

Carlsberg

AS

7,163

891

Coca-Cola

Europacific

Partners

PLC

15,823

1,451

Coca-Cola

HBC

AG

(e) 16,621

834

Davide

Campari-Milano

NV

46,913

Diageo

PLC

169,571

3,898

Heineken

Holding

NV

9,876

706

Heineken

NV

21,946

1,790

JDE

Peet's

NV

13,020

Kirin

Holdings

Co

Ltd

59,200

930

Pernod

Ricard

SA

15,379

1,386

Suntory

Beverage

&

Food

Ltd

10,500

$

18,997

Biotechnology

-

.72

%

Argenx

SE

(e) 4,688

4,274

CSL

Ltd

36,896

4,503

Financiere

de

Tubize

SA

1,525

Genmab

A/S

(e) 4,644

1,492

Swedish

Orphan

Biovitrum

AB

(e) 14,921

536

$

11,177

Building

Materials

-

.57

%

AGC

Inc

14,900

516

Belimo

Holding

AG

747

733

Buzzi

SpA

5,867

Cie

de

Saint-Gobain

SA

34,173

3,411

Daikin

Industries

Ltd

20,100

2,610

Geberit

AG

2,581

2,012

Heidelberg

Materials

AG

10,198

2,619

Holcim

AG

(e) 38,819

3,642

Kingspan

Group

PLC

11,698

1,004

Mitsubishi

Electric

Corp

144,800

3,915

Nibe

Industrier

AB

115,485

ROCKWOOL

A/S

7,348

Sika

AG

11,617

2,293

Svenska

Cellulosa

AB

SCA

46,292

602

$

24,394

Chemicals

-

.93

%

Air

Liquide

SA

44,050

8,442

Akzo

Nobel

NV

13,014

846

Asahi

Kasei

Corp

98,800

825

BASF

SE

67,908

3,541

Brenntag

SE

9,353

536

DSM-Firmenich

AG

13,149

1,082

EMS-Chemie

Holding

AG

531

Evonik

Industries

AG

19,531

Givaudan

SA

703

2,966

ICL

Group

Ltd

59,009

Mitsubishi

Chemical

Group

Corp

97,800

552

Nippon

Paint

Holdings

Co

Ltd

72,500

Nippon

Sanso

Holdings

Corp

13,300

Nitto

Denko

Corp

51,700

1,279

Novonesis

Novozymes

B

26,852

1,676

Shin-Etsu

Chemical

Co

Ltd

128,400

3,845

Syensqo

SA

5,544

Symrise

AG

10,119

838

Toray

Industries

Inc

105,800

688

Yara

International

ASA

12,617

$

29,927

Commercial

Services

-

.14

%

Adyen

NV

(e),(f)

1,919

2,999

Ashtead

Group

PLC

32,099

2,053

Brambles

Ltd

103,737

1,635

Bureau

Veritas

SA

25,941

830

Dai

Nippon

Printing

Co

Ltd

30,100

509

Edenred

SE

18,282

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Commercial

Services

(continued)

Experian

PLC

69,864

$

3,070

Intertek

Group

PLC

11,757

719

Nexi

SpA

(f) 40,175

Randstad

NV

8,271

Recruit

Holdings

Co

Ltd

107,200

5,483

RELX

PLC

138,968

5,573

Rentokil

Initial

PLC

192,485

1,060

Secom

Co

Ltd

30,200

1,021

Securitas

AB

37,477

572

SGS

SA

12,614

1,447

TOPPAN

Holdings

Inc

17,900

578

Transurban

Group

236,861

2,316

Wise

PLC

(e) 50,770

594

Wolters

Kluwer

NV

17,704

1,878

$

33,239

Computers

-

.04

%

Capgemini

SE

11,742

1,840

Check

Point

Software

Technologies

Ltd

(e) 6,539

1,221

CyberArk

Software

Ltd

(e) 3,843

1,762

Fujitsu

Ltd

134,000

3,555

Logitech

International

SA

11,589

1,308

NEC

Corp

98,700

3,729

Nomura

Research

Institute

Ltd

28,743

1,148

Obic

Co

Ltd

24,600

792

Otsuka

Corp

17,400

SCSK

Corp

11,900

$

16,133

Consumer

Products

-

.30

%

Henkel

AG

&

Co

KGaA

7,919

594

Reckitt

Benckiser

Group

PLC

51,405

3,984

$

4,578

Cosmetics

&

Personal

Care

-

.74

%

Beiersdorf

AG

7,368

792

Essity

AB

45,903

1,271

Haleon

PLC

678,140

3,335

Kao

Corp

35,500

1,435

L'Oreal

SA

18,288

7,977

Shiseido

Co

Ltd

(a) 30,500

Unicharm

Corp

85,200

500

Unilever

PLC

186,689

11,233

$

26,977

Distribution

&

Wholesale

-

.72

%

AddTech

AB

19,808

682

Bunzl

PLC

24,732

709

D'ieteren

Group

1,636

IMCD

NV

4,505

ITOCHU

Corp

90,500

5,428

Marubeni

Corp

107,600

2,840

Mitsubishi

Corp

245,300

5,808

Mitsui

&

Co

Ltd

188,000

4,994

Rexel

SA

17,091

651

SGH

Ltd

15,508

Sumitomo

Corp

83,000

2,607

Toyota

Tsusho

Corp

52,600

1,705

$

26,594

Diversified

Financial

Services

-

.73

%

AerCap

Holdings

NV

13,444

1,801

Amundi

SA

(f) 4,695

ASX

Ltd

14,806

564

Daiwa

Securities

Group

Inc

101,700

844

Deutsche

Boerse

AG

14,328

3,830

Euronext

NV

(f) 5,799

889

Futu

Holdings

Ltd

ADR

4,330

735

Hong

Kong

Exchanges

&

Clearing

Ltd

91,700

4,877

Japan

Exchange

Group

Inc

75,800

866

Julius

Baer

Group

Ltd

15,698

1,120

London

Stock

Exchange

Group

PLC

35,574

4,190

Mitsubishi

HC

Capital

Inc

67,200

538

Nomura

Holdings

Inc

228,400

1,725

Schedule

of

Investments

International

Equity

Index

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Diversified

Financial

Services

(continued)

ORIX

Corp

88,500

$

2,419

SBI

Holdings

Inc

42,780

902

Schroders

PLC

55,232

Singapore

Exchange

Ltd

65,100

849

$

26,809

Electric

-

.00

%

BKW

AG

1,608

Chubu

Electric

Power

Co

Inc

52,000

813

CLP

Holdings

Ltd

124,500

1,089

Contact

Energy

Ltd

63,816

E.ON

SE

171,080

3,047

EDP

Renovaveis

SA

24,028

EDP

SA

239,119

1,067

Elia

Group

SA/NV

3,324

Endesa

SA

24,203

878

Enel

SpA

619,269

6,399

Engie

SA

138,977

3,536

Fortum

Oyj

34,187

703

Hikari

Tsushin

Inc

1,300

Iberdrola

SA

483,278

10,201

Kansai

Electric

Power

Co

Inc/The

72,300

1,236

Meridian

Energy

Ltd

99,652

National

Grid

PLC

377,769

5,740

Origin

Energy

Ltd

131,275

1,005

Orsted

AS

(e),(f)

40,271

858

Power

Assets

Holdings

Ltd

105,500

706

Redeia

Corp

SA

30,924

552

RWE

AG

48,181

2,447

SSE

PLC

91,815

2,671

Terna

-

Rete

Elettrica

Nazionale

107,214

1,131

Verbund

AG

5,189

$

46,556

Electrical

Components

&

Equipment

-

.76

%

ABB

Ltd

119,337

8,588

Fujikura

Ltd

19,100

2,210

Legrand

SA

19,982

3,032

Prysmian

SpA

21,453

2,153

Schneider

Electric

SE

41,745

11,234

$

27,217

Electronics

-

.13

%

Assa

Abloy

AB

76,377

2,905

Halma

PLC

28,930

1,365

Hoya

Corp

26,100

3,921

Kyocera

Corp

97,900

1,340

MINEBEA

MITSUMI

Inc

27,500

558

Murata

Manufacturing

Co

Ltd

127,000

2,615

NIDEC

CORP

63,400

800

SCREEN

Holdings

Co

Ltd

6,200

511

Shimadzu

Corp

18,000

514

TDK

Corp

147,900

2,428

Yokogawa

Electric

Corp

17,300

553

$

17,510

Energy

-

Alternate

Sources

-

.12

%

Vestas

Wind

Systems

A/S

76,954

1,829

Engineering

&

Construction

-

.31

%

Acciona

SA

1,881

ACS

Actividades

de

Construccion

y

Servicios

SA

13,445

1,244

Aena

SME

SA

(f) 57,151

1,556

Aeroports

de

Paris

SA

2,638

Auckland

International

Airport

Ltd

128,634

591

Bouygues

SA

14,587

729

Cellnex

Telecom

SA

(e),(f)

37,685

1,132

CK

Infrastructure

Holdings

Ltd

48,000

Eiffage

SA

5,227

722

Ferrovial

SE

39,359

2,581

HOCHTIEF

AG

1,183

Infrastrutture

Wireless

Italiane

SpA

(f) 21,305

Kajima

Corp

32,200

1,200

Keppel

Ltd

111,000

878

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Engineering

&

Construction

(continued)

Obayashi

Corp

48,400

$

987

Skanska

AB

25,932

666

Taisei

Corp

11,200

958

Vinci

SA

37,986

5,391

$

20,347

Entertainment

-

.54

%

Aristocrat

Leisure

Ltd

42,272

1,616

CTS

Eventim

AG

&

Co

KGaA

4,755

Entain

PLC

46,298

Evolution

AB

(f) 10,119

693

FDJ

UNITED

8,472

Lottery

Corp

Ltd/The

169,607

607

Oriental

Land

Co

Ltd/Japan

82,400

1,585

Toho

Co

Ltd/Tokyo

8,000

Universal

Music

Group

NV

83,856

2,155

$

8,298

Food

-

.22

%

Aeon

Co

Ltd

169,700

3,073

Ajinomoto

Co

Inc

69,000

1,601

Barry

Callebaut

AG

Carrefour

SA

44,886

691

Chocoladefabriken

Lindt

&

Spruengli

AG

-

PC

1,045

Chocoladefabriken

Lindt

&

Spruengli

AG

-

REG

1,192

Coles

Group

Ltd

102,209

1,494

Danone

SA

49,270

4,404

J

Sainsbury

PLC

131,400

560

Jeronimo

Martins

SGPS

SA

21,580

512

Kerry

Group

PLC

12,349

1,146

Kesko

Oyj

20,813

Kikkoman

Corp

51,900

Kobe

Bussan

Co

Ltd

11,600

Koninklijke

Ahold

Delhaize

NV

68,294

2,827

Lotus

Bakeries

NV

Marks

&

Spencer

Group

PLC

156,699

721

Mowi

ASA

35,465

806

Nestle

SA

196,178

19,512

Orkla

ASA

53,417

572

Salmar

ASA

5,098

Seven

&

i

Holdings

Co

Ltd

158,600

2,182

Tesco

PLC

494,930

2,952

WH

Group

Ltd

(f) 636,500

667

Woolworths

Group

Ltd

93,087

1,788

$

49,957

Food

Service

-

.28

%

Compass

Group

PLC

129,188

4,062

Sodexo

SA

6,743

$

4,419

Forest

Products

&

Paper

-

.08

%

Holmen

AB

5,357

UPM-Kymmene

Oyj

40,214

1,098

$

1,294

Gas

-

.28

%

Centrica

PLC

359,400

816

Hong

Kong

&

China

Gas

Co

Ltd

854,387

796

Naturgy

Energy

Group

SA

14,765

Osaka

Gas

Co

Ltd

27,300

958

Sembcorp

Industries

Ltd

68,300

Snam

SpA

153,660

1,022

$

4,370

Hand

&

Machine

Tools

-

.28

%

Fuji

Electric

Co

Ltd

10,800

754

Makita

Corp

17,100

Schindler

Holding

AG

-

PC

3,100

1,108

Schindler

Holding

AG

-

REG

1,788

607

Techtronic

Industries

Co

Ltd

111,500

1,312

$

4,278

Schedule

of

Investments

International

Equity

Index

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Healthcare

-

Products

-

.74

%

Alcon

AG

38,077

$

3,035

Cochlear

Ltd

4,984

911

Coloplast

A/S

9,611

868

Demant

A/S

(e) 7,325

EssilorLuxottica

SA

22,922

8,222

Fisher

&

Paykel

Healthcare

Corp

Ltd

44,674

957

FUJIFILM

Holdings

Corp

85,300

1,831

Koninklijke

Philips

NV

58,700

1,656

Lifco

AB

17,764

655

Olympus

Corp

86,500

1,163

QIAGEN

NV

16,502

788

Sartorius

Stedim

Biotech

2,225

536

Siemens

Healthineers

AG

(f) 25,788

1,283

Smith

&

Nephew

PLC

61,381

1,020

Sonova

Holding

AG

3,861

964

Straumann

Holding

AG

8,506

972

Sysmex

Corp

38,300

Terumo

Corp

101,600

1,584

$

27,058

Healthcare

-

Services

-

.50

%

BioMerieux

3,157

Eurofins

Scientific

SE

9,022

614

Fresenius

Medical

Care

AG

16,771

802

Fresenius

SE

&

Co

KGaA

32,191

1,768

Lonza

Group

AG

5,349

3,672

Sonic

Healthcare

Ltd

35,779

547

$

7,799

Holding

Companies

-

Diversified

-

.08

%

Jardine

Matheson

Holdings

Ltd

12,368

812

Swire

Pacific

Ltd

26,500

Wharf

Holdings

Ltd/The

81,000

$

1,286

Home

Builders

-

.16

%

Barratt

Redrow

PLC

103,185

539

Daiwa

House

Industry

Co

Ltd

42,700

1,458

Sekisui

Chemical

Co

Ltd

28,400

$

2,481

Home

Furnishings

-

.05

%

Panasonic

Holdings

Corp

177,300

2,219

Rational

AG

Sony

Group

Corp

468,300

13,742

$

16,250

Insurance

-

.74

%

Admiral

Group

PLC

19,840

832

Aegon

Ltd

100,755

815

Ageas

SA/NV

11,370

777

AIA

Group

Ltd

799,800

8,331

Allianz

SE

29,403

12,692

ASR

Nederland

NV

11,952

807

Aviva

PLC

232,945

2,010

AXA

SA

132,074

5,967

Baloise

Holding

AG

3,140

822

Dai-ichi

Life

Holdings

Inc

267,900

2,090

Generali

64,953

2,578

Gjensidige

Forsikring

ASA

15,241

Hannover

Rueck

SE

4,594

1,381

Helvetia

Holding

AG

2,828

734

Insurance

Australia

Group

Ltd

180,236

916

Japan

Post

Holdings

Co

Ltd

135,500

1,331

Japan

Post

Insurance

Co

Ltd

14,200

Legal

&

General

Group

PLC

433,809

1,419

M&G

PLC

174,091

627

Mapfre

SA

70,344

Medibank

Pvt

Ltd

209,858

653

MS&AD

Insurance

Group

Holdings

Inc

97,900

2,172

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

9,943

6,266

NN

Group

NV

20,498

1,488

Phoenix

Financial

Ltd

17,418

701

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

(continued)

Phoenix

Group

Holdings

PLC

53,534

$

Prudential

PLC

195,108

2,827

QBE

Insurance

Group

Ltd

115,063

1,451

Sampo

Oyj

184,498

2,170

Sompo

Holdings

Inc

67,550

2,139

Sony

Financial

Group

Inc

(e) 463,100

Suncorp

Group

Ltd

82,516

948

Swiss

Life

Holding

AG

2,172

2,382

Swiss

Re

AG

22,736

4,012

T&D

Holdings

Inc

35,200

765

Talanx

AG

4,920

639

Tokio

Marine

Holdings

Inc

139,800

4,956

Tryg

A/S

25,623

635

Unipol

Assicurazioni

SpA

27,336

628

Zurich

Insurance

Group

AG

11,142

8,011

$

89,051

Internet

-

.54

%

Auto

Trader

Group

PLC

(f) 65,876

557

CAR

Group

Ltd

28,793

656

Delivery

Hero

SE

(e),(f)

14,643

Grab

Holdings

Ltd

(e) 180,808

985

LY

Corp

209,600

563

M3

Inc

33,700

556

MonotaRO

Co

Ltd

18,900

Prosus

NV

(e) 99,624

6,281

Rakuten

Group

Inc

(e) 115,500

707

Scout24

SE

(f) 5,714

584

Sea

Ltd

ADR

(e) 29,110

4,047

Spotify

Technology

SA

(e) 11,906

7,130

Trend

Micro

Inc/Japan

9,700

Wix.com

Ltd

(e) 4,242

ZOZO

Inc

34,000

$

23,868

Investment

Companies

-

.57

%

Eurazeo

SE

—

EXOR

NV

7,125

600

Groupe

Bruxelles

Lambert

NV

6,090

527

Industrivarden

AB

-

A

Shares

9,032

Industrivarden

AB

-

C

Shares

11,879

Infratil

Ltd

70,914

Investment

AB

Latour

11,284

Investor

AB

-

B

Shares

138,724

4,724

L

E

Lundbergforetagen

AB

5,792

Sofina

SA

1,257

Washington

H

Soul

Pattinson

&

Co

Ltd

26,132

648

$

8,785

Iron

&

Steel

-

.35

%

ArcelorMittal

SA

35,742

1,549

Fortescue

Ltd

129,041

1,813

JFE

Holdings

Inc

44,000

540

Nippon

Steel

Corp

368,685

1,488

$

5,390

Leisure

Products

&

Services

-

.23

%

Amadeus

IT

Group

SA

34,329

2,526

Shimano

Inc

5,700

599

Yamaha

Motor

Co

Ltd

70,000

507

$

3,632

Lodging

-

.26

%

Accor

SA

14,935

808

Galaxy

Entertainment

Group

Ltd

150,000

778

InterContinental

Hotels

Group

PLC

11,023

1,464

Sands

China

Ltd

185,200

506

Whitbread

PLC

13,172

$

3,990

Machinery

-

Construction

&

Mining

-

.10

%

Epiroc

AB

-

A

Shares

50,219

1,079

Epiroc

AB

-

B

Shares

29,718

573

Hitachi

Ltd

348,800

11,108

Schedule

of

Investments

International

Equity

Index

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Machinery

-

Construction

&

Mining

(continued)

Komatsu

Ltd

72,400

$

2,378

Metso

Oyj

50,536

835

Mitsubishi

Heavy

Industries

Ltd

244,000

6,180

Sandvik

AB

81,247

2,457

Siemens

Energy

AG

(e) 59,009

7,902

$

32,512

Machinery

-

Diversified

-

.52

%

Atlas

Copco

AB

-

A

Shares

204,368

3,473

Atlas

Copco

AB

-

B

Shares

118,940

1,821

Beijer

Ref

AB

31,139

Daifuku

Co

Ltd

24,600

778

Ebara

Corp

35,200

923

FANUC

Corp

71,000

2,276

GEA

Group

AG

11,164

756

Hexagon

AB

158,207

1,855

Keyence

Corp

14,860

5,059

Kone

Oyj

25,898

1,762

Kubota

Corp

74,400

1,074

SMC

Corp

4,400

1,548

Spirax

Group

PLC

5,610

Wartsila

OYJ

Abp

38,327

1,244

$

23,563

Media

-

.12

%

Informa

PLC

98,549

1,253

Pearson

PLC

43,893

580

$

1,833

Metal

Fabrication

&

Hardware

-

.14

%

SKF

AB

25,996

682

Tenaris

SA

28,592

575

VAT

Group

AG

(f) 2,054

907

$

2,164

Mining

-

.31

%

Anglo

American

PLC

85,281

3,223

Antofagasta

PLC

30,049

1,099

BHP

Group

Ltd

386,792

10,584

Boliden

AB

(e) 21,660

1,039

Endeavour

Mining

PLC

14,706

681

Evolution

Mining

Ltd

154,606

1,204

Fresnillo

PLC

16,846

587

Glencore

PLC

(e) 765,376

3,659

JX

Advanced

Metals

Corp

42,400

Lynas

Rare

Earths

Ltd

(e) 68,972

658

Norsk

Hydro

ASA

105,534

756

Northern

Star

Resources

Ltd

103,415

1,859

Rio

Tinto

Ltd

28,285

2,454

Rio

Tinto

PLC

85,930

6,170

South32

Ltd

343,183

727

Sumitomo

Metal

Mining

Co

Ltd

18,800

618

$

35,772

Miscellaneous

Manufacturers

-

.27

%

Alfa

Laval

AB

22,047

1,043

Alstom

SA

(e) 26,405

693

Indutrade

AB

20,823

517

Knorr-Bremse

AG

5,527

586

Siemens

AG

57,867

15,347

Smiths

Group

PLC

24,851

804

Trelleborg

AB

15,458

650

$

19,640

Office

&

Business

Equipment

-

.13

%

Canon

Inc

66,000

1,942

Oil

&

Gas

-

.17

%

Aker

BP

ASA

24,081

587

Bollore

SE

53,576

BP

PLC

1,197,942

7,194

DCC

PLC

(a) 7,378

ENEOS

Holdings

Inc

206,430

1,361

Eni

SpA

155,860

2,914

Equinor

ASA

58,450

1,344

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Oil

&

Gas

(continued)

Galp

Energia

SGPS

SA

31,796

$

639

Idemitsu

Kosan

Co

Ltd

58,905

Inpex

Corp

67,000

1,429

Neste

Oyj

32,239

623

OMV

AG

11,222

621

Repsol

SA

85,915

1,592

Santos

Ltd

247,482

1,045

Shell

PLC

441,035

16,208

TotalEnergies

SE

151,210

9,948

Woodside

Energy

Group

Ltd

144,686

2,367

$

49,094

Packaging

&

Containers

-

.03

%

Stora

Enso

Oyj

44,381

522

Pharmaceuticals

-

.85

%

Astellas

Pharma

Inc

137,800

1,733

AstraZeneca

PLC

118,072

21,891

Bayer

AG

74,862

2,648

Chugai

Pharmaceutical

Co

Ltd

51,100

2,736

Daiichi

Sankyo

Co

Ltd

137,000

3,377

Eisai

Co

Ltd

20,000

627

Galderma

Group

AG

11,782

2,352

Grifols

SA

22,730

GSK

PLC

309,490

7,365

Hikma

Pharmaceuticals

PLC

12,682

Ipsen

SA

2,873

Kyowa

Kirin

Co

Ltd

17,800

Merck

KGaA

9,848

1,327

Novartis

AG

144,757

18,885

Novo

Nordisk

A/S

245,221

12,144

Orion

Oyj

8,293

594

Otsuka

Holdings

Co

Ltd

33,100

1,875

Recordati

Industria

Chimica

e

Farmaceutica

SpA

8,765

518

Roche

Holding

AG

53,494

20,494

Roche

Holding

AG

2,438

971

Sandoz

Group

AG

31,852

2,253

Sanofi

SA

84,114

8,389

Shionogi

&

Co

Ltd

57,700

990

Sigma

Healthcare

Ltd

395,526

746

Takeda

Pharmaceutical

Co

Ltd

121,100

3,492

Teva

Pharmaceutical

Industries

Ltd

ADR

(e) 87,399

2,350

UCB

SA

9,634

2,693

$

121,704

Pipelines

-

.04

%

APA

Group

99,404

603

Private

Equity

-

.46

%

3i

Group

PLC

75,633

3,162

CapitaLand

Investment

Ltd/Singapore

178,500

CVC

Capital

Partners

PLC

(f) 16,201

EQT

AB

37,602

1,303

Partners

Group

Holding

AG

1,726

2,049

$

7,147

Real

Estate

-

.02

%

Azrieli

Group

Ltd

3,233

CK

Asset

Holdings

Ltd

146,132

751

Daito

Trust

Construction

Co

Ltd

22,300

Fastighets

AB

Balder

(e) 54,714

Henderson

Land

Development

Co

Ltd

110,982

Hongkong

Land

Holdings

Ltd

82,429

524

Hulic

Co

Ltd

35,100

LEG

Immobilien

SE

5,759

Mitsubishi

Estate

Co

Ltd

81,000

1,911

Mitsui

Fudosan

Co

Ltd

201,000

2,361

REA

Group

Ltd

4,027

517

Sagax

AB

16,750

Sekisui

House

Ltd

45,500

1,020

Sino

Land

Co

Ltd

277,073

Sumitomo

Realty

&

Development

Co

Ltd

23,200

1,121

Sun

Hung

Kai

Properties

Ltd

110,500

1,403

Swiss

Prime

Site

AG

6,114

902

Schedule

of

Investments

International

Equity

Index

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Real

Estate

(continued)

Vonovia

SE

57,614

$

1,744

Wharf

Real

Estate

Investment

Co

Ltd

126,000

$

15,772

REITs

-

.77

%

CapitaLand

Ascendas

REIT

298,550

648

CapitaLand

Integrated

Commercial

Trust

463,429

842

Covivio

SA/France

4,253

Gecina

SA

3,508

Goodman

Group

155,692

3,030

Klepierre

SA

16,395

638

Land

Securities

Group

PLC

53,928

Link

REIT

198,240

942

Nippon

Building

Fund

Inc

590

564

Scentre

Group

396,905

1,061

Segro

PLC

97,982

926

Stockland

184,441

727

Unibail-Rodamco-Westfield

(e) 9,279

986

Vicinity

Ltd

295,542

$

11,872

Retail

-

.33

%

Associated

British

Foods

PLC

24,440

692

Avolta

AG

6,699

Cie

Financiere

Richemont

SA

40,932

8,702

CK

Hutchison

Holdings

Ltd

203,632

1,436

Fast

Retailing

Co

Ltd

14,500

5,298

H

&

M

Hennes

&

Mauritz

AB

37,578

683

Industria

de

Diseno

Textil

SA

83,031

4,658

JD

Sports

Fashion

PLC

193,301

Kingfisher

PLC

132,405

536

MatsukiyoCocokara

&

Co

25,100

Moncler

SpA

17,801

1,203

Next

PLC

8,856

1,656

Nitori

Holdings

Co

Ltd

30,300

525

Pan

Pacific

International

Holdings

Corp

145,300

881

Pandora

A/S

6,020

720

Ryohin

Keikaku

Co

Ltd

38,600

766

Swatch

Group

AG/The

-

BR

2,204

Tokyo

Gas

Co

Ltd

24,000

973

Tsuruha

Holdings

Inc

20,000

Wesfarmers

Ltd

86,376

4,635

Zalando

SE

(e),(f)

17,112

Zensho

Holdings

Co

Ltd

7,300

$

36,097

Semiconductors

-

.88

%

Advantest

Corp

58,300

7,757

ASM

International

NV

3,570

1,975

ASML

Holding

NV

29,554

31,258

BE

Semiconductor

Industries

NV

5,565

843

Disco

Corp

7,000

1,952

Infineon

Technologies

AG

99,370

4,195

Kioxia

Holdings

Corp

(e) 10,300

625

Lasertec

Corp

6,100

1,101

Nova

Ltd

(e) 2,231

700

Renesas

Electronics

Corp

135,300

1,596

STMicroelectronics

NV

51,553

1,188

Tokyo

Electron

Ltd

34,100

6,971

$

60,161

Shipbuilding

-

.08

%

Kongsberg

Gruppen

ASA

33,516

794

Yangzijiang

Shipbuilding

Holdings

Ltd

196,900

510

$

1,304

Software

-

.96

%

Capcom

Co

Ltd

26,300

643

Dassault

Systemes

SE

51,035

1,429

Konami

Group

Corp

7,600

1,161

Monday.com

Ltd

(e) 3,286

Nebius

Group

NV

(e) 16,151

1,532

Nemetschek

SE

4,401

Nexon

Co

Ltd

28,200

687

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Software

(continued)

Nice

Ltd

(e) 4,701

$

Oracle

Corp

Japan

2,900

Pro

Medicus

Ltd

4,378

766

Sage

Group

PLC/The

73,356

1,044

SAP

SE

79,508

19,194

TIS

Inc

16,100

532

WiseTech

Global

Ltd

15,299

733

Xero

Ltd

(e) 12,544

1,007

$

30,434

Telecommunications

-

.99

%

BT

Group

PLC

455,688

1,093

Deutsche

Telekom

AG

280,114

9,033

Elisa

Oyj

10,839

HKT

Trust

&

HKT

Ltd

289,980

KDDI

Corp

223,200

3,840

Koninklijke

KPN

NV

296,339

1,358

Nokia

OYJ

403,322

2,456

NTT

Inc

2,277,000

2,269

Orange

SA

141,889

2,339

Singapore

Telecommunications

Ltd

565,100

2,068

SoftBank

Corp

2,185,800

3,127

SoftBank

Group

Corp

72,800

7,830

Swisscom

AG

(e) 1,972

1,417

Tele2

AB

41,716

665

Telecom

Italia

SpA/Milano

(e) 876,087

Telefonaktiebolaget

LM

Ericsson

213,257

2,058

Telefonica

SA

280,845

1,218

Telenor

ASA

46,923

678

Telia

Co

AB

179,777

722

Telstra

Group

Ltd

302,068

974

Vodafone

Group

PLC

1,458,192

1,816

$

46,374

Toys,

Games

&

Hobbies

-

.58

%

Bandai

Namco

Holdings

Inc

44,500

1,306

Nintendo

Co

Ltd

84,100

7,128

Sanrio

Co

Ltd

13,500

$

8,918

Transportation

-

.26

%

AP

Moller

-

Maersk

A/S

-

A

AP

Moller

-

Maersk

A/S

-

B

598

Central

Japan

Railway

Co

58,700

1,604

Deutsche

Post

AG

73,050

3,802

DSV

A/S

15,549

3,551

East

Japan

Railway

Co

73,400

1,897

Getlink

SE

23,051

Hankyu

Hanshin

Holdings

Inc

18,200

InPost

SA

(e) 19,050

Kawasaki

Kisen

Kaisha

Ltd

(a) 26,800

Kuehne

+

Nagel

International

AG

3,681

739

Mitsui

OSK

Lines

Ltd

26,200

744

MTR

Corp

Ltd

118,000

Nippon

Yusen

KK

31,400

994

Poste

Italiane

SpA

(f) 34,835

834

Seibu

Holdings

Inc

16,000

SG

Holdings

Co

Ltd

22,100

SITC

International

Holdings

Co

Ltd

103,000

Tokyo

Metro

Co

Ltd

(a) 22,200

Tokyu

Corp

38,200

West

Japan

Railway

Co

31,200

621

$

19,495

Water

-

.21

%

Severn

Trent

PLC

20,628

769

United

Utilities

Group

PLC

51,962

851

Veolia

Environnement

SA

47,982

1,633

$

3,253

TOTAL

COMMON

STOCKS

$

1,509,475

Schedule

of

Investments

International

Equity

Index

Fund

November

30,

2025

(unaudited)

PREFERRED

STOCKS

-

.30

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

.20

%

Bayerische

Motoren

Werke

AG

4.32%

4,163

$

Dr

Ing

hc

F

Porsche

AG

1.49%

(f) 8,679

Porsche

Automobil

Holding

SE

1.91%

11,669

503

Volkswagen

AG

6.36%

15,712

1,796

$

3,144

Consumer

Products

-

.06

%

Henkel

AG

&

Co

KGaA

2.04%

12,218

985

Electronics

-

.04

%

Sartorius

AG

0.74%

1,996

582

TOTAL

PREFERRED

STOCKS

$

4,711

Total

Investments

$

1,544,952

Other

Assets

and

Liabilities

- 0.35%

5,483

TOTAL

NET

ASSETS

-

100.00%

$

1,550,435

(a) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,162

or

0.07%

of

net

assets.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,217

or

0.08%

of

net

assets.

(d) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(e) Non-income

producing

security

(f) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$16,745

or

1.08%

of

net

assets.

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

8,776

$

873,553

$

880,982

$

1,347

$

8,776

$

873,553

$

880,982

$

1,347

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

eMini

MSCI

EAFE;

December

2025

Long

$

3,946

$

(10)

Total

$

(10)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

International

Small

Company

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.57

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.57

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.88%

(a),(b)

4,495,730

$

4,495

Principal

Government

Money

Market

Fund

-

Class

3.87%

(a),(b),(c)

13,460,518

13,461

$

17,956

TOTAL

INVESTMENT

COMPANIES

$

17,956

COMMON

STOCKS

-

.38

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

.47

%

Tkms

AG&

Co

KGaA

(d) 31,030

$

2,360

Apparel

-

.86

%

Gildan

Activewear

Inc

(e) 75,200

4,315

Automobile

Parts

&

Equipment

-

.09

%

Nifco

Inc/Japan

178,900

5,506

Banks

-

.63

%

Banca

Mediolanum

SpA

284,056

6,087

Banco

Comercial

Portugues

SA

5,983,283

5,705

BAWAG

Group

AG

(f) 41,382

5,541

Mebuki

Financial

Group

Inc

906,200

5,921

Yokohama

Financial

Group

Inc

636,700

5,037

$

28,291

Beverages

-

.95

%

Royal

Unibrew

A/S

54,801

4,754

Building

Materials

-

.65

%

Breedon

Group

PLC

582,982

2,538

Buzzi

SpA

40,796

2,516

Wienerberger

AG

94,132

3,230

$

8,284

Chemicals

-

.13

%

ADEKA

Corp

206,100

4,885

Air

Water

Inc

42,500

599

Fuso

Chemical

Co

Ltd

128,400

5,159

NOF

Corp

251,100

5,098

$

15,741

Commercial

Services

-

.14

%

BOYD

GROUP

INC

41,100

6,888

Dai

Nippon

Printing

Co

Ltd

305,300

5,163

Elis

SA

225,767

6,423

GMO

Payment

Gateway

Inc

55,800

3,592

Securitas

AB

247,384

3,774

$

25,840

Computers

-

.94

%

Computacenter

PLC

112,725

4,436

CyberArk

Software

Ltd

(d) 5,378

2,466

Sopra

Steria

Group

18,544

2,839

$

9,741

Distribution

&

Wholesale

-

.21

%

Rexel

SA

140,314

5,347

Sojitz

Corp

196,500

5,746

$

11,093

Diversified

Financial

Services

-

.61

%

Credit

Saison

Co

Ltd

136,300

3,432

IG

Group

Holdings

PLC

311,502

4,673

$

8,105

Electric

-

.03

%

Algonquin

Power

&

Utilities

Corp

420,400

2,572

Capital

Power

Corp

90,700

3,981

Hera

SpA

940,610

4,503

Tohoku

Electric

Power

Co

Inc

566,100

4,176

$

15,232

Electrical

Components

&

Equipment

-

.99

%

SWCC

Corp

72,700

4,977

Electronics

-

.35

%

Celestica

Inc

(d) 7,500

2,577

NKT

A/S

(d) 45,787

5,511

SCREEN

Holdings

Co

Ltd

45,000

3,711

$

11,799

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Engineering

&

Construction

-

.78

%

Balfour

Beatty

PLC

561,751

$

5,237

Kandenko

Co

Ltd

167,600

5,312

Kinden

Corp

135,100

5,611

Stantec

Inc

43,890

4,221

Technip

Energies

NV

93,365

3,646

$

24,027

Entertainment

-

.01

%

Sportradar

Group

AG

(d) 231,679

5,097

Food

-

.83

%

Aryzta

AG

(d),(e)

48,259

3,033

Cranswick

PLC

65,682

4,489

Kotobuki

Spirits

Co

Ltd

302,100

3,562

Toyo

Suisan

Kaisha

Ltd

68,200

4,898

Yamazaki

Baking

Co

Ltd

156,900

3,290

$

19,272

Gas

-

.60

%

Sembcorp

Industries

Ltd

639,200

3,029

Healthcare

-

Products

-

.02

%

Convatec

Group

PLC

(f) 1,151,929

3,596

Menicon

Co

Ltd

347,400

3,387

Smith

&

Nephew

PLC

190,244

3,161

$

10,144

Healthcare

-

Services

-

.64

%

ICON

PLC

(d) 17,418

3,222

Home

Builders

-

.64

%

Bellway

PLC

85,525

3,213

Home

Furnishings

-

.86

%

JVCKenwood

Corp

572,600

4,303

Insurance

-

.42

%

ASR

Nederland

NV

63,660

4,298

AUB

Group

Ltd

146,359

3,571

Beazley

PLC

439,246

4,633

Phoenix

Financial

Ltd

117,297

4,723

$

17,225

Internet

-

.16

%

Scout24

SE

(f) 34,091

3,487

SMG

Swiss

Marketplace

Group

AG

(d),(f)

54,511

2,328

$

5,815

Iron

&

Steel

-

.87

%

Japan

Steel

Works

Ltd/The

74,400

4,406

thyssenkrupp

AG

459,040

5,023

$

9,429

Leisure

Products

&

Services

-

.82

%

Flight

Centre

Travel

Group

Ltd

466,641

4,137

Lodging

-

.37

%

MGM

China

Holdings

Ltd

2,300,000

4,891

Whitbread

PLC

60,814

2,004

$

6,895

Machinery

-

Construction

&

Mining

-

.99

%

Weir

Group

PLC/The

135,203

4,970

Machinery

-

Diversified

-

.44

%

ATS

Corp

(d) 153,100

3,936

IMI

PLC

183,912

5,932

KION

Group

AG

89,358

6,697

Organo

Corp

67,300

5,761

$

22,326

Media

-

.04

%

Quebecor

Inc

120,900

4,556

TV

Asahi

Holdings

Corp

264,700

5,688

$

10,244

Mining

-

.35

%

Alamos

Gold

Inc

130,800

4,938

Capstone

Copper

Corp

(d) 410,300

3,644

Genesis

Minerals

Ltd

(d) 1,362,037

5,947

LunR

Royalties

Corp

(d) 83,581

Lynas

Rare

Earths

Ltd

(d) 73,867

704

NGEx

Minerals

Ltd

(d) 229,827

4,082

Schedule

of

Investments

International

Small

Company

Fund

November

30,

2025

(unaudited)

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Mining

(continued)

OR

Royalties

Inc

165,500

$

5,769

Osisko

Development

Corp

(d),(e)

1,269,533

4,479

Pilbara

Minerals

Ltd

(d) 669,740

1,782

SolGold

PLC

(d) 1,301,648

509

$

31,940

Miscellaneous

Manufacturers

-

.50

%

Amano

Corp

124,900

3,365

Trelleborg

AB

99,888

4,198

$

7,563

Office

&

Business

Equipment

-

.80

%

Canon

Marketing

Japan

Inc

92,200

4,039

Oil

&

Gas

-

.01

%

ARC

Resources

Ltd

292,200

5,229

Whitecap

Resources

Inc

(e) 586,080

4,903

$

10,132

Oil

&

Gas

Services

-

.05

%

SBM

Offshore

NV

185,868

5,302

Packaging

&

Containers

-

.16

%

Toyo

Seikan

Group

Holdings

Ltd

34,600

826

Pharmaceuticals

-

.98

%

Ascendis

Pharma

A/S

ADR

(d) 8,168

1,734

Hikma

Pharmaceuticals

PLC

139,306

2,867

Laboratorios

Farmaceuticos

Rovi

SA

41,960

2,899

Zealand

Pharma

A/S

(d) 30,648

2,463

$

9,963

Pipelines

-

.84

%

Gibson

Energy

Inc

233,700

4,249

Private

Equity

-

.03

%

ICG

PLC

187,959

5,169

Real

Estate

-

.26

%

TAG

Immobilien

AG

313,560

5,347

Tokyo

Tatemono

Co

Ltd

271,800

6,008

$

11,355

REITs

-

.72

%

Gecina

SA

42,749

3,963

Invincible

Investment

Corp

10,361

4,433

KDX

Realty

Investment

Corp

4,605

5,251

Keppel

DC

REIT

2,790,596

4,980

Merlin

Properties

Socimi

SA

397,163

5,867

Mirvac

Group

3,755,988

5,320

Stockland

1,194,211

4,709

UNITE

Group

PLC/The

616,745

4,308

$

38,831

Retail

-

.13

%

Brunello

Cucinelli

SpA

38,495

4,103

Food

&

Life

Cos

Ltd

96,300

4,335

JINS

Holdings

Inc

71,700

2,816

Monogatari

Corp/The

158,500

4,502

$

15,756

Semiconductors

-

.81

%

Nova

Ltd

(d) 13,013

4,071

Software

-

.71

%

Cellebrite

DI

Ltd

(d) 281,194

4,741

Descartes

Systems

Group

Inc/The

(d) 40,000

3,285

JMDC

Inc

115,900

3,195

Nemetschek

SE

32,343

3,614

TIS

Inc

115,100

3,804

$

18,639

Telecommunications

-

.78

%

Gamma

Communications

PLC

314,712

3,938

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Transportation

-

.71

%

Hiab

Oyj

76,087

$

4,373

Kamigumi

Co

Ltd

157,200

5,022

Kyushu

Railway

Co

165,200

4,250

$

13,645

TOTAL

COMMON

STOCKS

$

494,804

Total

Investments

$

512,760

Other

Assets

and

Liabilities

- (1.95)%

(9,827)

TOTAL

NET

ASSETS

-

100.00%

$

502,933

(a) 1-day

yield

shown

is

as

of

period

end.

(b) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$11,985

or

2.38%

of

net

assets.

(c) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d) Non-income

producing

security

(e) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$11,356

or

2.26%

of

net

assets.

(f) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$14,952

or

2.97%

of

net

assets.

Schedule

of

Investments

International

Small

Company

Fund

November

30,

2025

(unaudited)

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

6,520

$

110,767

$

103,826

$

13,461

$

6,520

$

110,767

$

103,826

$

13,461

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Opportunistic

Municipal

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

1.19%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

1.19%

iShares

Short-Term

National

Muni

Bond

ETF

1,000

$

JPMorgan

Ultra-Short

Municipal

Income

ETF

—

State

Street

SPDR

Nuveen

ICE

High

Yield

Municipal

Bond

ETF

41,778

1,052

VanEck

High

Yield

Muni

ETF

20,241

1,034

VanEck

Short

High

Yield

Muni

ETF

1,000

$

2,216

TOTAL

INVESTMENT

COMPANIES

$

2,216

COMMON

STOCKS

-

0.00%

Shares

Held

Value

(000's)

Transportation

-

0.00%

DesertXpress

Enterprises

LLC

-

Warrants

(a),(b)

21,000

$

—

TOTAL

COMMON

STOCKS

$

—

MUNICIPAL

BONDS

-

105.25%

Principal

Amount

(000's)

Value

(000's)

Alabama

-

6.76%

Baldwin

County

Industrial

Development

Authority

4.62%,

06/01/2055

(c),(d)

$

1,000

$

1,007

County

of

Jefferson

AL

Sewer

Revenue

5.25%,

10/01/2049

1,800

1,871

Lower

Alabama

Gas

District/The

5.00%,

09/01/2046

3,355

3,650

Mobile

County

Industrial

Development

Authority

4.75%,

12/01/2054

3,000

2,798

Tender

Option

Bond

Trust

Receipts/Certificates

3.20%,

02/01/2028

(c),(d)

Tuscaloosa

County

Industrial

Development

Authority

5.25%,

05/01/2044

(d) 3,003

3,010

$

12,586

Arizona

-

1.90%

Arizona

Industrial

Development

Authority

2.00%,

01/01/2059

1,159

Maricopa

County

Industrial

Development

Authority

4.00%,

10/15/2047

(d) 1,000

850

Navajo

Nation

5.50%,

12/01/2030

(d) 2,500

2,503

$

3,528

Arkansas

-

2.22%

Arkansas

Development

Finance

Authority

4.75%,

09/01/2049

(d) 1,000

976

5.45%,

09/01/2052

1,000

1,004

6.88%,

07/01/2048

(d) 2,000

2,152

$

4,132

California

-

10.85%

Alameda

Corridor

Transportation

Authority

(credit

support

from

Assured

Guaranty)

5.00%,

10/01/2052

(e) 1,000

1,036

Bay

Area

Toll

Authority

2.60%,

04/01/2056

California

Educational

Facilities

Authority

5.00%,

05/01/2049

5.00%,

04/01/2051

2,110

2,402

California

Infrastructure

&

Economic

Development

Bank

12.00%,

01/01/2065

(c) 2,525

2,146

California

Pollution

Control

Financing

Authority

5.00%,

07/01/2038

(d) 1,115

1,191

California

Public

Finance

Authority

6.50%,

06/01/2054

(d) 5,000

4,902

6.75%,

07/01/2065

(d) 2,500

2,675

California

Statewide

Financing

Authority

6.00%,

05/01/2043

1,000

1,021

City

of

Los

Angeles

Department

of

Airports

5.00%,

05/15/2037

(f) 1,421

1,541

La

Verne

Public

Financing

Authority

7.25%,

09/01/2026

San

Francisco

City

&

County

Airport

Comm-San

Francisco

International

Airport

5.25%,

05/01/2049

1,500

1,575

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

California

(continued)

State

of

California

5.00%,

08/01/2045

$

1,000

$

1,092

Tender

Option

Bond

Trust

Receipts/Certificates

2.55%,

12/01/2032

(c),(d)

$

20,190

Colorado

-

0.52%

Regional

Transportation

District

4.00%,

07/15/2040

1,000

973

Connecticut

-

0.92%

Mohegan

Tribal

Finance

Authority

7.00%,

02/01/2045

(d) 1,700

1,713

Florida

-

12.87%

County

of

Miami-Dade

FL

Aviation

Revenue

5.00%,

10/01/2049

(f) 3,000

3,024

County

of

Miami-Dade

FL

Water

&

Sewer

System

Revenue

5.00%,

10/01/2055

(g) 1,000

1,042

County

of

Palm

Beach

FL

5.75%,

10/01/2065

(d) 1,000

1,028

Florida

Development

Finance

Corp

4.38%,

10/01/2054

(c),(d)

2,000

2,028

4.45%,

07/01/2037

(c),(d)

2,000

2,011

5.25%,

08/01/2029

(d) 1,000

1,030

5.25%,

08/01/2055

1,000

1,028

6.13%,

07/01/2032

(c),(d)

2,000

2,011

Greater

Orlando

Aviation

Authority

5.25%,

10/01/2049

(f) 2,000

2,098

5.50%,

11/01/2037

1,500

1,617

Ocean

Highway

&

Port

Authority

5.50%,

12/01/2049

(d) 1,500

1,188

Palm

Beach

County

Health

Facilities

Authority

5.25%,

11/01/2055

610

623

5.75%,

11/01/2050

1,000

1,064

7.63%,

05/15/2058

1,000

1,113

Tender

Option

Bond

Trust

Receipts/Certificates

3.10%,

10/01/2032

(c),(d)

600

600

Village

Community

Development

District

No

4.80%,

05/01/2055

(d) 1,500

1,439

Village

Community

Development

District

No

5.13%,

05/01/2056

1,000

1,000

$

23,944

Georgia

-

3.87%

Atlanta

Development

Authority/The

0.00%,

12/15/2048

(a),(d)

4,000

3,584

5.50%,

04/01/2039

(d) 2,000

2,058

George

L

Smith

II

Congress

Center

Authority

5.00%,

01/01/2036

(d) 1,528

1,563

$

7,205

Illinois

-

7.51%

Chicago

O'Hare

International

Airport

(credit

support

from

Build

America

Mutual

Assurance

Corp)

5.00%,

01/01/2060

(e) 2,500

2,492

City

of

Chicago

IL

6.00%,

01/01/2050

1,500

1,575

7.46%,

02/15/2026

990

584

Illinois

State

Toll

Highway

Authority

4.00%,

01/01/2046

590

547

5.00%,

01/01/2040

(f) 5,000

5,005

5.00%,

01/01/2047

(g) 600

631

5.25%,

01/01/2043

(f) 1,500

1,626

State

of

Illinois

5.50%,

05/01/2047

1,435

1,509

$

13,969

Indiana

-

0.45%

City

of

Whiting

IN

3.00%,

11/01/2051

1,145

832

Schedule

of

Investments

Opportunistic

Municipal

Fund

November

30,

2025

(unaudited)

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Kansas

-

0.51%

City

of

Wichita

KS

6.00%,

05/15/2054

$

1,000

$

958

Kentucky

-

0.53%

City

of

Henderson

KY

4.45%,

01/01/2042

(d) 1,000

986

Louisiana

-

3.21%

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Authority

3.50%,

11/01/2032

1,000

983

4.40%,

11/01/2044

(d) 700

682

5.50%,

11/01/2039

(d) 400

5.65%,

11/01/2037

(d) 600

628

Louisiana

Public

Facilities

Authority

0.00%,

07/01/2039

(a) 278

—

Parish

of

St

James

LA

6.35%,

10/01/2040

(d) 3,000

3,263

$

5,971

Maine

-

0.55%

Finance

Authority

of

Maine

5.00%,

08/01/2035

(d) 1,000

1,034

Maryland

-

0.24%

Maryland

Stadium

Authority

(credit

support

from

State

Intercept

Program)

0.00%,

05/01/2051

(a),(e)

1,500

Michigan

-

1.29%

City

of

Detroit

MI

5.00%,

04/01/2050

1,000

1,006

Michigan

State

Building

Authority

2.89%,

10/15/2042

(c) 400

2.89%,

04/15/2059

(c) 1,000

1,000

$

2,406

Montana

-

0.76%

City

of

Kalispell

MT

5.25%,

05/15/2037

1,400

1,407

Nevada

-

1.11%

Las

Vegas

Convention

&

Visitors

Authority

5.00%,

07/01/2043

(f) 1,400

1,433

5.25%,

07/01/2049

(f) 600

628

State

of

Nevada

Department

of

Business

&

Industry

0.00%,

12/15/2037

(a),(d)

702

—

$

2,061

New

Hampshire

-

1.09%

New

Hampshire

Business

Finance

Authority

4.38%,

09/20/2036

955

971

New

Hampshire

Health

and

Education

Facilities

Authority

Act

(credit

support

from

Build

America

Mutual

Assurance

Corp

-

Transfer

Custodial

Receipt)

5.00%,

08/01/2059

(e) 1,000

1,068

$

2,039

New

Jersey

-

0.57%

New

Jersey

Transportation

Trust

Fund

Authority

5.25%,

06/15/2050

1,000

1,054

New

York

-

16.91%

Albany

Capital

Resource

Corp

5.50%,

05/01/2055

1,000

1,077

City

of

New

York

NY

2.85%,

03/01/2040

(c) 1,470

1,470

Genesee

County

Funding

Corp/The

5.50%,

12/01/2055

(g) 1,000

1,047

Metropolitan

Transportation

Authority

2.85%,

11/01/2032

(c) 400

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

5.50%,

05/01/2042

1,000

1,109

New

York

Liberty

Development

Corp

5.25%,

10/01/2035

1,300

1,524

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

New

York

(continued)

New

York

State

Dormitory

Authority

5.00%,

10/01/2048

(f) $

500

$

565

5.00%,

10/01/2050

(f) 1,000

1,127

5.25%,

10/01/2049

2,000

2,037

5.50%,

05/01/2049

3,200

3,322

New

York

State

Environmental

Facilities

Corp

5.12%,

09/01/2050

(c),(d)

1,000

1,043

New

York

Transportation

Development

Corp

4.00%,

10/31/2041

1,000

954

5.00%,

01/01/2034

1,000

1,022

5.38%,

08/01/2036

1,050

1,097

5.63%,

04/01/2040

1,000

1,050

6.00%,

06/30/2054

1,100

1,144

6.00%,

06/30/2059

2,000

2,125

New

York

Transportation

Development

Corp

(credit

support

from

Assured

Guaranty)

5.50%,

06/30/2044

(e) 1,210

1,267

Oneida

Indian

Nation

of

New

York

6.00%,

09/01/2043

(d) 3,000

3,233

Suffolk

Regional

Off-Track

Betting

Corp

6.00%,

12/01/2053

3,000

3,045

Western

Regional

Off-Track

Betting

Corp

4.13%,

12/01/2041

(d) 2,000

1,815

$

31,473

North

Carolina

-

0.55%

Columbus

County

Industrial

Facilities

&

Pollution

Control

Financing

Authority

4.20%,

05/01/2034

1,000

1,034

Ohio

-

3.20%

Buckeye

Tobacco

Settlement

Financing

Authority

5.00%,

06/01/2055

2,650

2,232

Cleveland-Cuyahoga

County

Port

Authority

4.00%,

12/01/2055

(d) 900

726

4.50%,

12/01/2055

(d) 1,210

1,027

County

of

Hamilton

OH

5.50%,

08/01/2051

1,000

1,032

Ohio

Air

Quality

Development

Authority

4.50%,

01/15/2048

(d) 1,000

935

$

5,952

Oklahoma

-

0.54%

Tulsa

County

Industrial

Authority

5.25%,

11/15/2045

1,000

1,000

Pennsylvania

-

4.86%

Lancaster

County

Hospital

Authority/PA

5.00%,

07/01/2045

1,000

972

Pennsylvania

Economic

Development

Financing

Authority

5.45%,

01/01/2051

(c),(d)

2,000

2,137

5.50%,

11/01/2044

2,000

2,001

6.88%,

09/01/2047

(d) 2,000

2,078

Philadelphia

Authority

for

Industrial

Development

4.00%,

07/01/2049

2,000

1,852

$

9,040

Puerto

Rico

-

2.45%

Commonwealth

of

Puerto

Rico

0.00%,

07/01/2033

(a) 133

0.00%,

11/01/2043

(a),(c)

4.00%,

07/01/2037

4.00%,

07/01/2041

4.00%,

07/01/2046

Puerto

Rico

Industrial

Tourist

Educational

Medical

&

Environmental

Control

Facilities

Financing

Authority

6.75%,

01/01/2045

1,480

1,672

Puerto

Rico

Sales

Tax

Financing

Corp

Sales

Tax

Revenue

5.00%,

07/01/2058

2,325

2,261

$

4,561

Schedule

of

Investments

Opportunistic

Municipal

Fund

November

30,

2025

(unaudited)

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Rhode

Island

-

0.54%

Rhode

Island

Health

and

Educational

Building

Corp

(credit

support

from

Assured

Guaranty)

5.00%,

07/01/2065

(e) $

1,000

$

998

South

Carolina

-

0.47%

South

Carolina

Jobs-Economic

Development

Authority

0.00%,

06/01/2040

(a),(d)

1,000

0.00%,

06/01/2051

(a),(d)

2,000

5.25%,

11/15/2052

560

540

$

870

Tennessee

-

0.87%

Metropolitan

Government

Nashville

&

Davidson

County

Industrial

Development

Board

4.00%,

06/01/2051

(d) 1,000

865

Nashville

Metropolitan

Development

&

Housing

Agency

5.13%,

06/01/2036

(d) 750

762

$

1,627

Texas

-

6.86%

City

of

Houston

TX

Airport

System

Revenue

4.00%,

07/01/2041

1,000

909

4.00%,

07/15/2041

500

5.50%,

07/15/2038

1,500

1,622

New

Hope

Cultural

Education

Facilities

Finance

Corp

6.50%,

07/01/2056

(d) 4,200

3,987

Port

of

Beaumont

Navigation

District

4.00%,

01/01/2050

(d) 3,000

2,307

5.13%,

01/01/2044

(d) 1,000

973

5.25%,

01/01/2054

(d) 505

Tarrant

County

Cultural

Education

Facilities

Finance

Corp

4.13%,

12/01/2054

1,000

938

Tender

Option

Bond

Trust

Receipts/Certificates

2.95%,

03/01/2033

(c),(d)

940

940

Texas

Municipal

Gas

Acquisition

and

Supply

Corp

I

6.25%,

12/15/2026

$

12,763

Utah

-

4.60%

City

of

Salt

Lake

City

UT

Airport

Revenue

5.00%,

07/01/2040

(f) 960

1,043

5.25%,

07/01/2042

(f) 960

1,039

5.50%,

07/01/2050

(f) 640

681

5.50%,

07/01/2055

(f) 640

676

Mida

Mountain

Village

Public

Infrastructure

District

5.13%,

06/15/2054

(d) 1,500

1,495

6.00%,

06/15/2054

(d) 1,500

1,545

Tech

Ridge

Public

Infrastructure

District

6.25%,

12/01/2054

(d) 2,000

2,078

$

8,557

Virginia

-

1.01%

Virginia

Beach

Development

Authority

7.00%,

09/01/2059

1,000

1,095

Virginia

Small

Business

Financing

Authority

4.00%,

01/01/2039

800

788

$

1,883

West

Virginia

-

0.57%

West

Virginia

Economic

Development

Authority

5.45%,

01/01/2055

(c),(d)

1,000

1,068

Wisconsin

-

4.09%

Public

Finance

Authority

5.00%,

09/01/2039

(d) 1,000

1,017

5.00%,

06/01/2041

(d) 1,000

1,016

5.25%,

06/15/2055

1,000

1,026

5.50%,

06/15/2055

750

771

5.75%,

06/15/2055

750

747

5.75%,

06/30/2060

1,000

1,039

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Wisconsin

(continued)

Public

Finance

Authority

(continued)

6.50%,

06/30/2060

$

1,135

$

1,254

Wisconsin

Health

&

Educational

Facilities

Authority

6.50%,

07/01/2033

7.00%,

07/01/2043

500

$

7,614

TOTAL

MUNICIPAL

BONDS

$

195,880

Total

Investments

$

198,096

Liability

for

Floating

Rate

Notes

Issued

in

Conjunction

with

Securities

Held

-

(7.07)%

Notes

with

interest

rates

of

2.82%

-2.91%

at

November

30,

2025

and

contractual

maturity

of

collateral

from

2026-2049.

(h) $

(13,160)

(13,160)

Total

Net

Investments

$

184,936

Other

Assets

and

Liabilities

- 0.63%

1,170

TOTAL

NET

ASSETS

-

100.00%

$

186,106

(a) Non-income

producing

security

(b) The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(c) Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions. These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(d) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$78,718

or

42.30%

of

net

assets.

(e) Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(f) Security

or

portion

of

underlying

security

related

to

Inverse

Floaters

entered

into

by

the

fund.

(g) Security

purchased

on

a

when-issued

basis.

(h) Floating

rate

securities.

The

interest

rate(s)

shown

reflect

the

rates

in

effect

at

November

30,

2025. Schedule

of

Investments

Small-MidCap

Dividend

Income

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

.03

%

Principal

Government

Money

Market

Fund

-

Class

3.87%

(a),(b)

16,608,518

$

16,609

TOTAL

INVESTMENT

COMPANIES

$

16,609

COMMON

STOCKS

-

.85

%

Shares

Held

Value

(000's)

Advertising

-

.59

%

Omnicom

Group

Inc

133,392

$

9,553

Banks

-

.57

%

Cullen/Frost

Bankers

Inc

251,133

31,070

East

West

Bancorp

Inc

417,993

44,600

ServisFirst

Bancshares

Inc

363,526

25,858

Wintrust

Financial

Corp

272,586

36,532

$

138,060

Building

Materials

-

.65

%

Owens

Corning

92,528

10,478

Chemicals

-

.29

%

RPM

International

Inc

194,555

20,866

Commercial

Services

-

.96

%

Service

Corp

International/US

195,801

15,552

Computers

-

.00

%

Amdocs

Ltd

346,355

26,489

Leidos

Holdings

Inc

205,210

39,215

Western

Digital

Corp

91,316

14,915

$

80,619

Consumer

Products

-

.35

%

Avery

Dennison

Corp

126,358

21,780

Distribution

&

Wholesale

-

.96

%

LKQ

Corp

518,580

15,397

Diversified

Financial

Services

-

.51

%

Federal

Agricultural

Mortgage

Corp

148,008

25,422

Hamilton

Lane

Inc

301,197

37,329

Raymond

James

Financial

Inc

166,860

26,120

$

88,871

Electric

-

.63

%

Alliant

Energy

Corp

293,392

20,382

IDACORP

Inc

169,598

22,350

NRG

Energy

Inc

93,519

15,850

$

58,582

Electrical

Components

&

Equipment

-

.34

%

Littelfuse

Inc

84,567

21,651

Electronics

-

.03

%

Hubbell

Inc

63,966

27,597

nVent

Electric

PLC

389,578

41,790

TD

SYNNEX

Corp

76,159

11,613

$

81,000

Engineering

&

Construction

-

.50

%

Comfort

Systems

USA

Inc

24,829

24,256

Food

-

.64

%

Ingredion

Inc

256,767

27,613

Marzetti

Company/The

89,720

14,978

$

42,591

Gas

-

.56

%

NiSource

Inc

570,698

25,185

Hand

&

Machine

Tools

-

.45

%

Lincoln

Electric

Holdings

Inc

97,536

23,353

MSA

Safety

Inc

137,239

22,136

Snap-on

Inc

77,029

26,194

$

71,683

Healthcare

-

Products

-

.45

%

Bio-Techne

Corp

238,328

15,375

STERIS

PLC

151,398

40,314

$

55,689

Healthcare

-

Services

-

.43

%

Concentra

Group

Holdings

Parent

Inc

990,960

20,374

Quest

Diagnostics

Inc

184,324

34,870

$

55,244

COMMON

STOCKS

(continued)

Shares

Held

Value

(000's)

Home

Builders

-

.12

%

LCI

Industries

158,504

$

18,017

Insurance

-

.15

%

Assured

Guaranty

Ltd

268,482

24,309

Equitable

Holdings

Inc

649,459

30,323

Fidelity

National

Financial

Inc

477,757

28,393

$

83,025

Iron

&

Steel

-

.26

%

Reliance

Inc

72,711

20,310

Leisure

Products

&

Services

-

.06

%

Acushnet

Holdings

Corp

296,305

24,919

Brunswick

Corp/DE

368,410

24,356

$

49,275

Lodging

-

.28

%

Hyatt

Hotels

Corp

125,677

20,660

Machinery

-

Diversified

-

.82

%

AGCO

Corp

295,925

31,356

Crane

Co

147,692

27,065

Nordson

Corp

80,985

19,247

$

77,668

Media

-

.36

%

Nexstar

Media

Group

Inc

113,859

21,877

Metal

Fabrication

&

Hardware

-

.36

%

Timken

Co/The

270,067

21,981

Miscellaneous

Manufacturers

-

.36

%

Donaldson

Co

Inc

64,543

5,802

Oil

&

Gas

-

.26

%

Expand

Energy

Corp

115,217

14,049

HF

Sinclair

Corp

251,314

13,297

Magnolia

Oil

&

Gas

Corp

337,852

7,818

Permian

Resources

Corp

1,199,403

17,379

$

52,543

Packaging

&

Containers

-

.14

%

Packaging

Corp

of

America

169,356

34,560

Pipelines

-

.14

%

DT

Midstream

Inc

107,556

13,064

Targa

Resources

Corp

121,996

21,387

$

34,451

REITs

-

.24

%

Agree

Realty

Corp

358,291

26,951

BXP

Inc

197,794

14,312

Camden

Property

Trust

130,593

13,887

Cousins

Properties

Inc

588,586

15,174

EastGroup

Properties

Inc

109,479

19,835

Essential

Properties

Realty

Trust

Inc

671,106

21,247

Four

Corners

Property

Trust

Inc

506,383

12,174

Regency

Centers

Corp

193,799

13,791

Terreno

Realty

Corp

183,205

11,503

$

148,874

Retail

-

.09

%

Dick's

Sporting

Goods

Inc

115,685

23,897

Domino's

Pizza

Inc

28,186

11,828

Williams-Sonoma

Inc

167,443

30,141

$

65,866

Semiconductors

-

.30

%

Amkor

Technology

Inc

971,308

35,346

MKS

Inc

320,002

50,045

$

85,391

Shipbuilding

-

.00

%

Huntington

Ingalls

Industries

Inc

51,349

16,104

TOTAL

COMMON

STOCKS

$

1,593,461

Total

Investments

$

1,610,070

Other

Assets

and

Liabilities

- 0.12%

1,862

TOTAL

NET

ASSETS

-

100.00%

$

1,611,932

Schedule

of

Investments

Small-MidCap

Dividend

Income

Fund

November

30,

2025

(unaudited)

(a) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b) 1-day

yield

shown

is

as

of

period

end.

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

21,309

$

111,172

$

115,872

$

16,609

$

21,309

$

111,172

$

115,872

$

16,609

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

$

—

$

—

$

—

$

$

—

$

—

$

—

Amounts

in

thousands.

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

INVESTMENT

COMPANIES

-

.26

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

.74

%

Invesco

Preferred

ETF

(a) 3,428,409

$

38,707

Money

Market

Funds

-

.52

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

3.88%

(b),(c)

138,746

Principal

Government

Money

Market

Fund

-

Class

3.87%

(b),(c),(d)

79,533,426

79,533

$

79,672

TOTAL

INVESTMENT

COMPANIES

$

118,379

CONVERTIBLE

PREFERRED

STOCKS

-

.05

%

Shares

Held

Value

(000's)

Banks

-

.05

%

Wells

Fargo

&

Co

7.50%

(e) 2,374

$

2,896

TOTAL

CONVERTIBLE

PREFERRED

STOCKS

$

2,896

PREFERRED

STOCKS

-

.56

%

Shares

Held

Value

(000's)

Banks

-

.58

%

Bank

of

America

Corp

4.25%,

11/17/2026

(e) 7,500

$

Bank

of

America

Corp

4.38%,

12/31/2025

(e) 293,847

5,281

Bank

of

America

Corp

4.73%,

01/01/2026

(a),(e)

200,640

3,856

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.91%

Bank

of

New

York

Mellon

Corp/The

6.15%,

03/20/2030

(e) 863,548

22,228

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.16%

Citizens

Financial

Group

Inc

5.00%,

01/06/2026

(e) 15,373

Citizens

Financial

Group

Inc

6.50%,

10/06/2030

(e) 573,580

14,592

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.63%

Citizens

Financial

Group

Inc

7.38%,

07/06/2029

(e) 669,818

17,723

Comerica

Inc

6.88%,

10/01/2030

(e) 39,500

1,019

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.13%

Cullen/Frost

Bankers

Inc

4.45%,

03/15/2026

(a),(e)

298,372

5,359

First

Horizon

Corp

4.70%,

07/10/2026

(e) 2,478

First

Horizon

Corp

6.50%,

01/10/2026

(a),(e)

5,587

Goldman

Sachs

Group

Inc/The

4.80%,

01/01/2026

(a),(e)

31,810

614

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.93%

Huntington

Bancshares

Inc/OH

6.88%,

04/15/2028

(a),(e)

67,019

1,729

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.70%

JPMorgan

Chase

&

Co

4.75%,

03/01/2026

(e) 109,347

2,225

JPMorgan

Chase

&

Co

5.75%,

03/01/2026

(e) 7,628

KeyCorp

5.65%,

03/15/2026

(e) 57,334

1,244

KeyCorp

6.13%,

12/15/2026

(a),(e)

725,354

18,141

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.15%

KeyCorp

6.20%,

12/15/2027

(a),(e)

388,382

9,818

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.13%

M&T

Bank

Corp

5.63%,

12/15/2026

(e) 34,897

875

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.28%

M&T

Bank

Corp

6.35%,

12/15/2030

(e) 210,186

5,280

M&T

Bank

Corp

7.50%,

06/15/2029

(e) 150,526

4,010

Morgan

Stanley

5.85%,

04/15/2027

(a),(e)

629,481

15,580

Month

USD

LIBOR

+

3.49%

Morgan

Stanley

6.50%,

10/15/2027

(e) 440,682

11,378

Morgan

Stanley

6.63%,

10/15/2029

(e) 467,149

12,281

Northern

Trust

Corp

4.70%,

04/01/2026

(e) 206,006

4,030

Regions

Financial

Corp

4.45%,

06/15/2026

(e) 311,305

5,457

Regions

Financial

Corp

5.70%,

05/15/2029

(e) 338,586

8,031

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.41%

Regions

Financial

Corp

6.95%,

09/15/2029

(e) 845,886

21,663

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.77%

PREFERRED

STOCKS

(continued)

Shares

Held

Value

(000's)

Banks

(continued)

Truist

Financial

Corp

4.75%,

03/01/2026

(e) 462,909

$

8,809

UMB

Financial

Corp

7.75%,

07/15/2030

(e) 452,600

12,098

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.74%

US

Bancorp

4.00%,

04/15/2026

(e) 54,816

902

US

Bancorp

4.77%,

01/01/2026

(a),(e)

116,001

2,131

CME

Term

Secured

Overnight

Financing

Rate

Month

+

0.86%

US

Bancorp

5.50%,

01/01/2026

(e) 117,583

2,690

Webster

Financial

Corp

5.25%,

01/01/2026

(e) 194,856

3,797

Webster

Financial

Corp

6.50%,

12/30/2025

(a),(e)

37,427

895

Wells

Fargo

&

Co

4.38%,

03/15/2026

(e) 33,835

599

Wells

Fargo

&

Co

4.70%,

03/15/2026

(e) 39,138

743

Wells

Fargo

&

Co

4.75%,

03/15/2026

(a),(e)

73,015

1,406

Wintrust

Financial

Corp

7.88%,

07/15/2030

(e) 467,120

12,267

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.88%

$

239,549

Diversified

Financial

Services

-

.54

%

Affiliated

Managers

Group

Inc

4.20%,

09/30/2061

(a) 175,726

2,762

Affiliated

Managers

Group

Inc

4.75%,

09/30/2060

11,336

Affiliated

Managers

Group

Inc

5.88%,

03/30/2059

(a) 146,258

3,153

Capital

One

Financial

Corp

4.25%,

09/01/2026

(e) 103,648

1,721

Capital

One

Financial

Corp

4.80%,

03/01/2026

(e) 222,141

4,043

Capital

One

Financial

Corp

5.00%,

03/01/2026

(a),(e)

252,621

4,833

Stifel

Financial

Corp

4.50%,

08/15/2026

(a),(e)

558,669

9,838

Stifel

Financial

Corp

6.13%,

01/01/2026

(e) 5,715

Voya

Financial

Inc

5.35%,

09/15/2029

(e) 62,038

1,509

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.21%

$

28,195

Electric

-

.30

%

CMS

Energy

Corp

5.88%,

03/01/2079

(a) 142,374

3,320

CMS

Energy

Corp

5.88%,

10/15/2078

250,450

5,863

DTE

Energy

Co

4.38%,

12/01/2081

342,879

5,963

DTE

Energy

Co

5.25%,

12/01/2077

(a) 381,382

8,123

DTE

Energy

Co

6.25%,

10/01/2085

187,100

4,681

Entergy

Arkansas

LLC

4.88%,

09/01/2066

42,249

884

Entergy

Louisiana

LLC

4.88%,

09/01/2066

(a) 125,440

2,594

Entergy

Texas

Inc

5.38%,

01/01/2026

(a),(e)

42,934

986

Georgia

Power

Co

5.00%,

10/01/2077

(a) 151,694

3,484

NextEra

Energy

Capital

Holdings

Inc

5.65%,

03/01/2079

98,197

2,355

NextEra

Energy

Capital

Holdings

Inc

6.50%,

06/01/2085

304,235

7,661

Southern

Co/The

4.95%,

01/30/2080

248,873

5,010

Southern

Co/The

5.25%,

12/01/2077

550,514

11,935

Xcel

Energy

Inc

0.00%,

10/15/2085

(f) 214,080

5,346

$

68,205

Food

-

.45

%

Dairy

Farmers

of

America

Inc

7.88%,

12/22/2025

(e),(g)

236,300

23,630

Gas

-

.00

%

Spire

Inc

5.90%,

01/01/2026

(e) 5,031

Insurance

-

.21

%

Allstate

Corp/The

4.75%,

01/15/2026

(e) 135,447

2,659

Allstate

Corp/The

5.10%,

01/15/2026

(e) 47,311

1,003

Allstate

Corp/The

7.21%,

01/15/2053

208,793

5,450

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.43%

Allstate

Corp/The

7.38%,

07/15/2028

(e) 229,165

6,082

American

Financial

Group

Inc/OH

4.50%,

09/15/2060

(a) 92,709

1,609

American

Financial

Group

Inc/OH

5.63%,

06/01/2060

126,716

2,672

American

Financial

Group

Inc/OH

5.88%,

03/30/2059

93,143

2,040

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

PREFERRED

STOCKS

(continued)

Shares

Held

Value

(000's)

Insurance

(continued)

Arch

Capital

Group

Ltd

4.55%,

06/11/2026

(e) 119,912

$

2,052

Arch

Capital

Group

Ltd

5.45%,

12/31/2025

(e) 54,066

1,140

Assurant

Inc

5.25%,

01/15/2061

40,839

807

Corebridge

Financial

Inc

6.38%,

12/15/2064

34,735

825

Equitable

Holdings

Inc

4.30%,

03/15/2026

(e) 538,152

8,686

Equitable

Holdings

Inc

5.25%,

03/15/2026

(e) 461,567

9,231

Globe

Life

Inc

4.25%,

06/15/2061

81,206

1,379

Prudential

Financial

Inc

5.63%,

08/15/2058

(a) 169,114

4,045

Prudential

Financial

Inc

5.95%,

09/01/2062

166,189

4,113

RenaissanceRe

Holdings

Ltd

4.20%,

07/15/2026

(e) 235,914

3,768

RenaissanceRe

Holdings

Ltd

5.75%,

01/01/2026

(a),(e)

23,682

534

W

R

Berkley

Corp

4.13%,

03/30/2061

117,926

1,981

W

R

Berkley

Corp

5.10%,

12/30/2059

150,258

3,023

$

63,099

Pipelines

-

.22

%

TransCanada

PipeLines

Ltd

6.25%,

11/01/2085

463,547

11,260

REITs

-

.64

%

Digital

Realty

Trust

Inc

5.20%,

01/01/2026

(e) 30,204

638

Digital

Realty

Trust

Inc

5.25%,

01/01/2026

(e) 16,600

Digital

Realty

Trust

Inc

5.85%,

01/01/2026

(e) 76,850

1,848

Federal

Realty

Investment

Trust

5.00%,

12/31/2025

(e) 155,168

3,142

Kimco

Realty

Corp

5.13%,

01/01/2026

(e) 106,113

2,157

Kimco

Realty

Corp

5.25%,

01/01/2026

(e) 356,311

7,340

Prologis

Inc

8.54%,

11/13/2026

(e) 116,842

6,543

Public

Storage

3.88%,

01/01/2026

(e) 117,394

1,849

Public

Storage

3.90%,

12/30/2025

(e) 119,562

1,896

Public

Storage

3.95%,

08/17/2026

(e) 77,361

1,244

Public

Storage

4.00%,

11/19/2026

(e) 471,069

7,636

Public

Storage

4.00%,

06/16/2026

(e) 868,470

14,078

Public

Storage

4.10%,

01/13/2027

(e) 128,309

2,125

Public

Storage

4.13%,

12/31/2025

(e) 567,023

9,520

Public

Storage

4.63%,

12/31/2025

(e) 470,706

8,807

Public

Storage

4.70%,

01/01/2026

(e) 307,599

5,854

Public

Storage

4.75%,

01/01/2026

(e) 253,963

4,899

Public

Storage

5.60%,

01/01/2026

(e) 251,400

5,822

$

85,762

Telecommunications

-

.62

%

AT&T

Inc

4.75%,

01/01/2026

(e) 1,678,335

31,838

AT&T

Inc

5.00%,

01/01/2026

(a),(e)

22,144

$

32,280

TOTAL

PREFERRED

STOCKS

$

552,101

BONDS

-

.02

%

Principal

Amount

(000's)

Value

(000's)

Banks

-

.92

%

Banco

Bilbao

Vizcaya

Argentaria

SA

7.75%,

01/14/2032

(e),(h),(i)

$

45,000

$

47,826

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.25%

9.38%,

03/19/2029

(e),(h),(i)

51,200

56,960

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.10%

Banco

Santander

SA

8.00%,

02/01/2034

(e),(h),(i)

4,600

5,107

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.91%

9.63%,

11/21/2028

(e),(h),(i)

52,000

57,872

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.31%

9.63%,

05/21/2033

(e),(h),(i)

39,000

47,080

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.30%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Bank

of

America

Corp

6.13%,

04/27/2027

(e),(h)

$

27,236

$

27,496

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.23%

6.25%,

07/26/2030

(e),(h)

86,175

87,139

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.35%

6.63%,

05/01/2030

(e),(h)

48,600

50,400

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

8.05%,

06/15/2027

6,112

6,436

Bank

of

Montreal

6.88%,

11/26/2085

(h) 26,150

26,865

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.98%

7.30%,

11/26/2084

(h) 17,000

18,062

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.01%

7.70%,

05/26/2084

(a),(h)

37,793

40,082

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.45%

Bank

of

New

York

Mellon

Corp/The

3.75%,

12/20/2026

(e),(h)

55,550

54,580

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.63%

4.63%,

09/20/2026

(e),(h)

4,050

4,023

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.39%

5.95%,

12/20/2030

(e),(h)

1,100

1,114

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.27%

Bank

of

Nova

Scotia/The

6.88%,

10/27/2085

(h) 55,200

55,687

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.73%

7.35%,

04/27/2085

(h) 25,300

26,234

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.90%

8.00%,

01/27/2084

(h) 27,045

28,846

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.02%

8.63%,

10/27/2082

(h) 39,003

41,353

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.39%

Barclays

PLC

7.63%,

03/15/2035

(e),(h),(i)

18,300

19,315

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.69%

8.00%,

03/15/2029

(e),(h),(i)

3,600

3,807

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.43%

9.63%,

12/15/2029

(a),(e),(h),(i)

71,400

80,465

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

5.78%

BNP

Paribas

SA

7.38%,

09/10/2034

(e),(g),(h),(i)

34,000

35,273

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.54%

7.45%,

06/27/2035

(e),(g),(h),(i)

7,500

7,820

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.13%

7.75%,

08/16/2029

(e),(g),(h),(i)

50,000

52,705

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.90%

7.75%,

08/16/2029

(e),(h),(i)

10,048

10,592

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.90%

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

BNP

Paribas

SA

(continued)

8.00%,

08/22/2031

(e),(g),(h),(i)

$

20,000

$

21,482

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.73%

8.50%,

08/14/2028

(e),(g),(h),(i)

8,400

8,932

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.35%

Canadian

Imperial

Bank

of

Commerce

6.95%,

01/28/2085

(h) 13,600

13,862

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.83%

7.00%,

10/28/2085

(h) 24,850

25,623

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.00%

Citigroup

Capital

III

7.63%,

12/01/2036

3,300

3,726

Citigroup

Inc

6.25%,

08/15/2026

(a),(e),(h)

54,167

54,489

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.78%

6.75%,

02/15/2030

(e),(h)

15,500

15,619

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.57%

6.88%,

08/15/2030

(e),(h)

11,000

11,259

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.89%

6.95%,

02/15/2030

(e),(h)

10,100

10,339

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.73%

7.00%,

08/15/2034

(e),(h)

27,960

29,689

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.76%

7.13%,

08/15/2029

(e),(h)

645

661

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.69%

7.38%,

05/15/2028

(e),(h)

24,600

25,386

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.21%

Citizens

Financial

Group

Inc

4.00%,

10/06/2026

(a),(e),(h)

34,319

33,701

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.22%

7.35%,

01/06/2026

(a),(e)

2,000

1,997

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.42%

Credit

Agricole

SA

7.13%,

09/23/2035

(e),(g),(h),(i)

61,700

63,782

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.58%

Deutsche

Bank

AG

8.13%,

04/30/2030

(a),(e),(h),(i)

25,800

27,427

USD

Secured

Overnight

Financing

Rate

Spread-Adj.

ICE

Swap

Rate

Year

+

4.36%

DNB

Bank

ASA

7.38%,

05/30/2029

(e),(h),(i)

4,000

4,195

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.72%

Goldman

Sachs

Group

Inc/The

3.65%,

08/10/2026

(e),(h)

11,419

11,262

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.92%

6.13%,

11/10/2034

(a),(e),(h)

17,100

17,509

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.40%

6.85%,

02/10/2030

(e),(h)

51,500

53,418

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.46%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Goldman

Sachs

Group

Inc/The

(continued)

7.50%,

05/10/2029

(e),(h)

$

15,500

$

16,360

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.81%

HSBC

Holdings

PLC

6.00%,

05/22/2027

(e),(h),(i)

15,900

16,009

USD

Swap

Rate

NY

Year

+

3.75%

6.50%,

03/23/2028

(e),(h),(i)

5,600

5,712

USD

Swap

Rate

NY

Year

+

3.61%

6.88%,

09/11/2029

(a),(e),(h),(i)

5,000

5,174

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.30%

6.95%,

03/11/2034

(a),(e),(h),(i)

6,000

6,309

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.19%

7.05%,

06/05/2030

(e),(h),(i)

8,300

8,610

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.99%

Huntington

Bancshares

Inc/OH

4.45%,

10/15/2027

(e),(h)

79,726

78,050

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.05%

5.63%,

07/15/2030

(a),(e),(h)

38,673

39,284

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.95%

6.25%,

10/15/2030

(e),(h)

29,710

29,308

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

ING

Groep

NV

4.88%,

05/16/2029

(e),(h),(i)

12,600

12,159

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.51%

7.00%,

11/16/2032

(e),(h),(i)

81,000

83,692

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.59%

7.25%,

11/16/2034

(e),(h),(i)

30,400

32,112

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

4.08%

JPMorgan

Chase

&

Co

5.07%,

01/15/2087

4,000

3,720

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.21%

6.50%,

04/01/2030

(e),(h)

50,200

51,847

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.15%

6.88%,

06/01/2029

(e),(h)

50,710

53,487

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.74%

KeyCorp

5.00%,

09/15/2026

(a),(e),(h)

18,852

18,734

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.87%

KeyCorp

Capital

III

7.75%,

07/15/2029

11,200

11,842

Lloyds

Banking

Group

PLC

6.63%,

09/27/2035

(e),(h),(i)

5,000

4,969

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

6.75%,

06/27/2026

(e),(h),(i)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.82%

6.75%,

09/27/2031

(a),(e),(h),(i)

15,000

15,468

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.15%

8.00%,

09/27/2029

(e),(h),(i)

6,400

6,896

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.91%

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

M&T

Bank

Corp

3.50%,

09/01/2026

(e),(h)

$

37,118

$

35,817

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

5.13%,

11/01/2026

(e),(h)

6,305

6,267

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.78%

7.30%,

02/01/2026

(a),(e),(h)

15,500

15,505

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.17%

Macquarie

Bank

Ltd/London

6.13%,

03/08/2027

(a),(e),(g),(h),(i)

21,000

21,336

USD

Swap

Semi-Annual

Year

+

3.70%

6.13%,

03/08/2027

(e),(h),(i)

5,000

5,080

USD

Swap

Semi-Annual

Year

+

3.70%

NatWest

Group

PLC

7.30%,

11/19/2034

(e),(h),(i)

6,800

7,151

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.94%

8.13%,

11/10/2033

(e),(h),(i)

67,005

74,995

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.75%

Nordea

Bank

Abp

6.30%,

09/25/2031

(e),(g),(h),(i)

43,100

43,736

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.66%

6.75%,

11/10/2033

(e),(g),(h),(i)

12,800

13,090

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.72%

Northern

Trust

Corp

4.60%,

10/01/2026

(e),(h)

10,400

10,310

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.46%

PNC

Financial

Services

Group

Inc/The

6.00%,

05/15/2027

(e),(h)

6,000

6,039

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.00%

6.20%,

09/15/2027

(e),(h)

9,200

9,337

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.24%

6.25%,

03/15/2030

(e),(h)

111,020

114,072

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.81%

Royal

Bank

of

Canada

6.35%,

11/24/2084

(h) 55,450

54,673

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.26%

6.50%,

11/24/2085

(h) 46,600

46,418

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.46%

6.75%,

08/24/2085

(h) 12,100

12,499

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.82%

7.50%,

05/02/2084

(a),(h)

47,500

50,286

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.89%

Societe

Generale

SA

8.50%,

03/25/2034

(e),(g),(h),(i)

24,000

26,250

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.15%

9.38%,

11/22/2027

(e),(g),(h),(i)

3,800

4,054

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.39%

10.00%,

11/14/2028

(e),(g),(h),(i)

30,100

33,188

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.45%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

Standard

Chartered

PLC

4.75%,

01/14/2031

(e),(h),(i)

$

10,000

$

9,377

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.81%

7.00%,

11/14/2035

(e),(g),(h),(i)

20,500

20,982

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.87%

7.01%,

07/30/2037

(e),(g),(h)

9,200

9,661

Month

USD

LIBOR

+

1.46%

7.63%,

01/16/2032

(a),(e),(g),(h),(i)

16,600

17,635

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.02%

7.75%,

08/15/2027

(e),(g),(h),(i)

45,000

46,681

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.98%

State

Street

Corp

6.45%,

09/15/2030

(e),(h)

11,100

11,502

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.14%

6.70%,

09/15/2029

(e),(h)

51,193

53,322

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.63%

6.70%,

03/15/2029

(e),(h)

52,160

54,134

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.61%

Swedbank

AB

7.63%,

03/17/2028

(e),(h),(i)

14,000

14,647

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.59%

7.75%,

03/17/2030

(e),(h),(i)

14,800

15,901

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.66%

Toronto-Dominion

Bank/The

6.35%,

10/31/2085

(h) 27,200

27,499

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.72%

8.13%,

10/31/2082

(h) 24,600

25,855

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.08%

Truist

Financial

Corp

5.10%,

03/01/2030

(e),(h)

35,906

36,019

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.35%

UBS

Group

AG

6.60%,

08/05/2030

(e),(g),(h),(i)

17,200

17,316

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.12%

6.85%,

09/10/2029

(e),(g),(h),(i)

17,000

17,354

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.63%

7.00%,

02/10/2030

(e),(g),(h),(i)

15,600

15,896

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.08%

7.00%,

02/05/2035

(e),(g),(h),(i)

17,300

17,551

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.30%

7.00%,

02/05/2035

(e),(h),(i)

1,000

1,015

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.30%

7.00%,

02/10/2030

(e),(h),(i)

7,500

7,642

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.08%

7.13%,

08/10/2034

(e),(g),(h),(i)

7,000

7,156

USD

Secured

Overnight

Financing

Rate

ICE

Swap

Rate

Year

+

3.18%

9.25%,

11/13/2033

(e),(g),(h),(i)

37,000

43,352

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.76%

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Banks

(continued)

UBS

Group

AG

(continued)

9.25%,

11/13/2028

(e),(g),(h),(i)

$

17,000

$

18,628

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.75%

9.25%,

11/13/2033

(e),(h),(i)

19,480

22,824

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.76%

US

Bancorp

3.70%,

01/15/2027

(e),(h)

36,243

35,184

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.54%

USB

Realty

Corp

5.31%,

01/15/2027

(e),(g)

1,500

1,189

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.41%

Wells

Fargo

&

Co

6.85%,

09/15/2029

(e),(h)

57,985

60,739

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.77%

7.63%,

09/15/2028

(e),(h)

47,100

50,166

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.61%

7.95%,

11/15/2029

3,700

4,139

$

3,080,910

Diversified

Financial

Services

-

.75

%

Capital

One

Financial

Corp

3.95%,

09/01/2026

(a),(e),(h)

45,240

44,586

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.16%

Charles

Schwab

Corp/The

4.00%,

12/01/2030

(e),(h)

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.08%

4.00%,

06/01/2026

(e),(h)

4,395

4,362

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.17%

Julius

Baer

Group

Ltd

6.88%,

06/09/2027

(e),(h),(i)

5,000

5,047

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.94%

Nomura

Holdings

Inc

7.00%,

07/15/2030

(e),(h),(i)

1,200

1,232

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.08%

Voya

Financial

Inc

4.70%,

01/23/2048

(h) 15,655

14,804

Month

USD

LIBOR

+

2.08%

7.76%,

09/15/2028

(e),(h)

20,306

21,480

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.36%

$

91,548

Electric

-

.75

%

American

Electric

Power

Co

Inc

3.88%,

02/15/2062

(h) 20,950

20,388

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

5.80%,

03/15/2056

(h) 3,000

2,979

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.13%

6.05%,

03/15/2056

(h) 4,700

4,699

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.94%

6.95%,

12/15/2054

(h) 10,000

10,800

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.68%

7.05%,

12/15/2054

(h) 18,600

19,522

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.75%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Electric

(continued)

Dominion

Energy

Inc

6.63%,

05/15/2055

(h) $

35,600

$

36,843

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.21%

6.88%,

02/01/2055

(h) 18,800

19,605

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.39%

7.00%,

06/01/2054

(h) 22,400

24,379

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.51%

Duke

Energy

Corp

3.25%,

01/15/2082

(h) 4,000

3,859

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.32%

6.45%,

09/01/2054

(h) 14,900

15,648

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.59%

Electricite

de

France

SA

9.13%,

03/15/2033

(e),(h)

9,800

11,339

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.41%

9.13%,

03/15/2033

(e),(g),(h)

5,341

6,180

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.41%

Entergy

Corp

5.88%,

06/15/2056

(h) 2,900

2,896

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.18%

6.10%,

06/15/2056

(h) 5,300

5,331

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.01%

EUSHI

Finance

Inc

7.63%,

12/15/2054

(h) 1,200

1,264

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.14%

Evergy

Inc

6.65%,

06/01/2055

(h) 4,800

4,890

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.56%

Exelon

Corp

6.50%,

03/15/2055

(h) 1,400

1,464

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.98%

NextEra

Energy

Capital

Holdings

Inc

5.65%,

05/01/2079

(a),(h)

3,200

3,239

Month

USD

LIBOR

+

3.16%

6.31%,

10/01/2066

12,149

10,698

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.33%

6.70%,

09/01/2054

(h) 16,700

17,354

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.36%

Sempra

6.55%,

04/01/2055

(h) 10,400

10,536

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.14%

6.63%,

04/01/2055

(h) 7,700

7,782

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.35%

WEC

Energy

Group

Inc

5.63%,

05/15/2056

(h) 6,600

6,699

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.91%

$

248,394

Food

-

.20

%

Dairy

Farmers

of

America

Inc

7.13%,

12/01/2026

(e),(g)

10,700

10,619

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Gas

-

.24

%

AltaGas

Ltd

7.20%,

10/15/2054

(g),(h)

$

4,626

$

4,786

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.57%

NiSource

Inc

5.75%,

07/15/2056

(a),(h)

3,200

3,237

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.04%

6.95%,

11/30/2054

(h) 4,000

4,168

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.45%

$

12,191

Insurance

-

.04

%

ACE

Capital

Trust

II

9.70%,

04/01/2030

15,505

18,674

Allianz

SE

5.60%,

09/03/2054

(g),(h)

2,000

2,049

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.77%

Aon

Corp

8.21%,

01/01/2027

4,350

4,526

Argentum

Netherlands

BV

for

Swiss

Re

Ltd

5.63%,

08/15/2052

(h) 63,620

64,186

Month

USD

LIBOR

+

3.78%

AXA

SA

5.13%,

01/17/2047

(h) 500

503

Secured

Overnight

Financing

Rate

+

4.14%

Corebridge

Financial

Inc

6.38%,

09/15/2054

(h) 12,500

12,605

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

6.88%,

12/01/2030

(e),(h)

9,500

9,714

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.18%

6.88%,

12/15/2052

(h) 36,290

37,074

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.85%

Dai-ichi

Life

Insurance

Co

Ltd/The

6.20%,

01/16/2035

(e),(g),(h)

16,700

17,479

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.52%

Equitable

Holdings

Inc

6.70%,

03/28/2055

(h) 8,100

8,444

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.39%

Liberty

Mutual

Group

Inc

4.13%,

12/15/2051

(g),(h)

6,100

5,982

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.32%

7.80%,

03/07/2087

(g) 76,240

87,738

Month

USD

LIBOR

+

3.58%

Liberty

Mutual

Insurance

Co

7.70%,

10/15/2097

(g) 5,025

5,793

Meiji

Yasuda

Life

Insurance

Co

5.80%,

09/11/2054

(g),(h)

19,000

19,381

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.03%

6.10%,

06/11/2055

(g),(h)

23,700

24,623

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.91%

MetLife

Capital

Trust

IV

7.88%,

12/15/2067

(g) 24,540

27,306

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.96%

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Insurance

(continued)

MetLife

Inc

9.25%,

04/08/2068

(g) $

53,475

$

63,969

Month

USD

LIBOR

+

5.54%

10.75%,

08/01/2069

53,713

71,563

Month

USD

LIBOR

+

7.55%

Mitsui

Sumitomo

Insurance

Co

Ltd

4.95%,

03/06/2029

(e),(h)

520

529

USD

Swap

Semi-Annual

Year

+

3.26%

4.95%,

03/06/2029

(e),(g),(h)

1,800

1,831

USD

Swap

Semi-Annual

Year

+

3.26%

MMI

Capital

Trust

I

7.63%,

12/15/2027

1,073

1,136

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

5.88%,

05/23/2042

(g),(h)

4,800

5,030

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.98%

5.88%,

05/23/2042

(h) 1,800

1,886

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.98%

Nationwide

Financial

Services

Inc

6.75%,

05/15/2087

68,995

69,058

Nippon

Life

Insurance

Co

5.95%,

04/16/2054

(g),(h)

18,300

19,106

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.59%

6.50%,

04/30/2055

(g),(h)

5,000

5,369

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.19%

Prudential

Financial

Inc

5.13%,

03/01/2052

(h) 1,000

991

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.16%

6.00%,

09/01/2052

(h) 23,400

24,250

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.23%

6.50%,

03/15/2054

(h) 8,285

8,728

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.40%

Reinsurance

Group

of

America

Inc

6.65%,

09/15/2055

(h) 9,100

9,390

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.39%

Sumitomo

Life

Insurance

Co

4.00%,

09/14/2077

(a),(g),(h)

4,700

4,657

Month

USD

LIBOR

+

2.99%

5.88%,

09/10/2055

(g),(h)

45,800

46,521

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.65%

Swiss

RE

Subordinated

Finance

PLC

5.70%,

04/05/2035

(g),(h)

10,800

11,250

CME

Term

Secured

Overnight

Financing

Rate

Month

+

1.81%

6.19%,

04/01/2046

(g),(h)

2,000

2,087

CME

Term

Secured

Overnight

Financing

Rate

Month

+

2.13%

Zurich

Finance

Ireland

Designated

Activity

Co

3.00%,

04/19/2051

(h) 45,100

40,821

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.78%

$

734,249

Oil

&

Gas

-

.00

%

BP

Capital

Markets

PLC

6.13%,

03/18/2035

(e),(h)

23,700

24,442

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

1.92%

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

(continued)

Phillips

Co

5.88%,

03/15/2056

(h) $

8,000

$

7,879

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.28%

6.20%,

03/15/2056

(h) 20,025

20,053

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.17%

$

52,374

Pipelines

-

.19

%

Enbridge

Inc

5.75%,

07/15/2080

(h) 59,201

59,831

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

5.31%

6.00%,

01/15/2077

(h) 10,981

11,016

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.15%

6.25%,

03/01/2078

(h) 34,882

35,305

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.90%

7.38%,

03/15/2055

(h) 5,000

5,295

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.12%

8.25%,

01/15/2084

(h) 2,000

2,137

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.79%

8.50%,

01/15/2084

(h) 17,815

20,439

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.43%

Energy

Transfer

LP

6.75%,

02/15/2056

(h) 17,400

17,314

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.48%

Enterprise

Products

Operating

LLC

5.25%,

08/16/2077

(h) 27,400

27,345

CME

Term

Secured

Overnight

Financing

Rate

Month

+

3.29%

TransCanada

PipeLines

Ltd

7.00%,

06/01/2065

(h) 12,100

12,348

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.61%

Transcanada

Trust

5.50%,

09/15/2079

(h) 28,000

27,758

Secured

Overnight

Financing

Rate

+

4.42%

$

218,788

REITs

-

.80

%

Scentre

Group

Trust

5.13%,

09/24/2080

(g),(h)

41,600

41,964

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

4.69%

Sovereign

-

.06

%

CoBank

ACB

4.25%,

01/01/2027

(e),(h)

1,000

975

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.05%

6.25%,

10/01/2026

(e),(h)

16,400

16,440

CME

Term

Secured

Overnight

Financing

Rate

Month

+

4.66%

6.45%,

10/01/2027

(e),(h)

11,400

11,320

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.49%

7.25%,

07/01/2029

(e),(h)

20,000

20,453

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

2.88%

Farm

Credit

Bank

of

Texas

7.75%,

06/15/2029

(e),(h)

6,000

6,230

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.29%

$

55,418

BONDS

(continued)

Principal

Amount

(000's)

Value

(000's)

Telecommunications

-

.07

%

Vodafone

Group

PLC

5.13%,

06/04/2081

(h) $

4,600

$

3,651

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

Year

+

3.07%

TOTAL

BONDS

$

4,550,106

Total

Investments

$

5,223,482

Other

Assets

and

Liabilities

- 0.11%

5,557

TOTAL

NET

ASSETS

-

100.00%

$

5,229,039

(a) Security

or

a

portion

of

the

security

was

on

loan. At

the

end

of

the

period,

the

value

of

these

securities

totaled

$54,676

or

1.05%

of

net

assets.

(b) 1-day

yield

shown

is

as

of

period

end.

(c) Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$56,509

or

1.08%

of

net

assets.

(d) Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(e) Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(f) Non-income

producing

security

(g) Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,002,399

or

19.17%

of

net

assets.

(h) Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(i) Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,277,068

or

24.42%

of

net

assets.

Schedule

of

Investments

Spectrum

Preferred

and

Capital

Securities

Income

Fund

November

30,

2025

(unaudited)

Affiliated

Securities

August

31,

2025

Purchases

Sales

November

30,

2025

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

107,784

$

770,752

$

799,003

$

79,533

$

107,784

$

770,752

$

799,003

$

79,533

Income

(a) Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

3.87%

$

591

$

—

$

—

$

—

$

591

$

—

$

—

$

—

Amounts

in

thousands.

(a) Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

Long

Bond;

March

2026

Long

$

32,882

$

(71)

US

Ultra

Bond;

March

2026

Long

18,141

(69)

Total

$

(140)

Amounts

in

thousands

except

contracts.

Glossary

to

the

Schedule

of

Investments

November

30,

2025

(unaudited)

Currency

Abbreviations

AUD

Australian

Dollar

BRL

Brazilian

Real

CAD

Canadian

Dollar

CHF

Swiss

Franc

CLP

Chilean

Peso

CNH

Chinese

Renminbi

COP

Colombian

Peso

CZK

Czech

Koruna

EGP

Egyptian

Pound

EUR

Euro

GBP

British

Pound

Sterling

HKD

Hong

Kong

Dollar

HUF

Hungarian

Forint

IDR

Indonesian

Rupiah

ILS

Israeli

New

Shekel

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

MXN

Mexican

Peso

NOK

Norwegian

Krone

NZD

New

Zealand

Dollar

PEN

Peruvian

Nuevo

Sol

PHP

Philippine

Peso

PLN

Polish

Zloty

RON

Romanian

New

Leu

SEK

Swedish

Krona

SGD

Singapore

Dollar

THB

Thai

Baht

TRY

Turkish

Lira

TWD

New

Taiwan

Dollar

USD/$

United

States

Dollar

UYU

Uruguayan

Peso

ZAR

South

African

Rand

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-07572

- **c. CIK number of Registrant:** 0000898745

- **d. LEI of Registrant:** 549300HZGBXSW6DSXF23

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

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

  - **City:** Des Moines

  - **State:** IA

  - **Foreign country:** US

  - **Zip / Postal Code:** 50309

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

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

- **a. Name of Series:** Blue Chip Fund

- **b. EDGAR series identifier (if any):** S000037378

- **c. LEI of Series:** 549300DIGKZKBG8KG876

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $10496207505.24

**Total Liabilities:** $18396633.23

**Net Assets:** $10477810872.01

**Cash Not Reported:** $8.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000115413 | -0.16%               | 0.82%                | -1.64%               |
| Class ID C000131723 | -0.18%               | 0.81%                | -1.65%               |
| Class ID C000131724 | -0.25%               | 0.75%                | -1.70%               |
| Class ID C000167694 | -0.18%               | 0.78%                | -1.65%               |
| Class ID C000167696 | -0.16%               | 0.80%                | -1.64%               |
| Class ID C000176331 | -0.16%               | 0.84%                | -1.61%               |
| Class ID C000193661 | -0.16%               | 0.81%                | -1.63%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $62274425.09             | $-113609961.53                             |
| Month 2  | $423014081.77            | $-332387146.35                             |
| Month 3  | $104134069.38            | $-289415764.39                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Airbnb Inc                                         | Airbnb Inc                                         | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |    790126 | NS      | $92436840.74   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc - C Shares                            | Alphabet Inc - C Shares                            | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    629123 | NS      | $201394854.76  | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc - A Shares                            | Alphabet Inc - A Shares                            | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    724437 | NS      | $231950238.66  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                     | Amazon.com Inc                                     | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   5260416 | NS      | $1226834219.52 | 11.71%            |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                      | Amphenol Corp                                      | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    833711 | NS      | $117469879.90  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                       | Broadcom Inc                                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |   1212030 | NS      | $488399608.80  | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                                    | Brookfield Corp                                    | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |  15282559 | NS      | $718280273.00  | 6.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Asset Management Ltd                    | Brookfield Asset Management Ltd                    | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | US        |    604742 | NS      | $31894093.08   | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Cadence Design Systems Inc                         | Cadence Design Systems Inc                         | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |   1374505 | NS      | $428625639.20  | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Software Inc/Canada                  | Constellation Software Inc/Canada                  | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |     23761 | NS      | $58097926.06   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                         | Copart Inc                                         | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |   3465416 | NS      | $135081915.68  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                              | Costco Wholesale Corp                              | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     91880 | NS      | $83940649.20   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                                   | CoStar Group Inc                                   | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |   2298513 | NS      | $158137694.40  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                       | Danaher Corp                                       | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |   1625530 | NS      | $368637693.40  | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                 | Meta Platforms Inc                                 | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    454127 | NS      | $294251589.65  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co                            | Arthur J Gallagher & Co                            | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |    289660 | NS      | $71725609.20   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp - Class A                               | HEICO Corp - Class A                               | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |    679499 | NS      | $167815868.03  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc                      | Hilton Worldwide Holdings Inc                      | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |    640850 | NS      | $182661475.50  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                             | IDEXX Laboratories Inc                             | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     96782 | NS      | $72865232.16   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                             | Intuitive Surgical Inc                             | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     74476 | NS      | $42710496.48   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                                       | KKR & Co Inc                                       | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |   1824413 | NS      | $223143954.03  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                                           | MSCI Inc                                           | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |    116801 | NS      | $65843059.72   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                     | Mastercard Inc                                     | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    846602 | NS      | $466079799.06  | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                     | Microsoft Corp                                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |   3182219 | NS      | $1565683570.19 | 14.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                                       | Moody's Corp                                       | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |    100421 | NS      | $49284618.38   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                        | Netflix Inc                                        | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |   3051819 | NS      | $328314688.02  | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                        | NVIDIA Corp                                        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   4304179 | NS      | $761839683.00  | 7.27%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc                            | O'Reilly Automotive Inc                            | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |   1223516 | NS      | $124431577.20  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Government Money Market Fund - Class R-6 | Principal Government Money Market Fund - Class R-6 | CUSIP: 74257B639<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   9124507 | NS      | $9124507.22    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                             | Roper Technologies Inc                             | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |    395844 | NS      | $176633509.68  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                            | Charles Schwab Corp/The                            | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    977728 | NS      | $90664717.44   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The                            | Sherwin-Williams Co/The                            | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |    111891 | NS      | $38455817.79   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc                                | TransDigm Group Inc                                | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    417156 | NS      | $567403076.52  | 5.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                                  | Veeva Systems Inc                                  | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |    308591 | NS      | $74151331.39   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                           | Visa Inc                                           | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |   1265176 | NS      | $423125461.44  | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                                | Vulcan Materials Co                                | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |    362720 | NS      | $107814892.80  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                         | Zoetis Inc                                         | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |   1124622 | NS      | $144154047.96  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund - Institutional Class  | BlackRock Liquidity FedFund - Institutional Class  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |     24556 | NS      | $24556.32      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Wealth Solutions Ltd                    | Brookfield Wealth Solutions Ltd                    | CUSIP: G17434104<br>LEI: 9845004583U3B8E06924 | Long             | EC               | CORP              | CA        |     85339 | NS      | $4007519.44    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Linde PLC                                          | Linde PLC                                          | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |    232112 | NS      | $95240195.84   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

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

**Signature:** Megan Hoffmann

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

**Title:** Vice President and Treasurer