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SA U.S. Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	FACE AMOUNT		VALUE†
YANKEE CORPORATE BONDS AND NOTES — 14.4%
*Communication — 0.8%*
NTT Finance Corp., 0.583%, 3/01/24 ±	$	3,500,000	$	3,302,874

*Financial — 13.0%*
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 2.875%, 8/14/24		3,000,000		2,824,444
Aircastle Ltd., 4.125%, 5/01/24		1,595,000		1,534,012
Bank of Montreal, 0.625%, 7/09/24		2,000,000		1,853,782
Canadian Imperial Bank of Commerce, 3.100%, 4/02/24		4,500,000		4,383,767
Cooperatieve Rabobank UA, 1.375%, 1/10/25		7,762,000		7,151,969
Cooperatieve Rabobank UA, 2.625%, 7/22/24 ±		2,000,000		1,913,243
Mitsubishi UFJ Financial Group, Inc., 3.407%, 3/07/24		3,946,000		3,856,464
National Australia Bank Ltd., 1.388%, 1/12/25 ±		11,000,000		10,187,465
NatWest Markets PLC, 0.800%, 8/12/24 ±		4,250,000		3,907,850
Skandinaviska Enskilda Banken AB, 0.650%, 9/09/24 ±		1,000,000		919,694
Societe Generale SA, 2.625%, 10/16/24 ±		750,000		703,859
Sumitomo Mitsui Banking Corp., 3.400%, 7/11/24		1,000,000		972,377
Sumitomo Mitsui Financial Group, Inc., 2.696%, 7/16/24		1,966,000		1,878,951
Sumitomo Mitsui Trust Bank Ltd., 0.850%, 3/25/24 ±		5,000,000		4,694,552
Westpac Banking Corp., 1.019%, 11/18/24		11,800,000		10,951,232

				57,733,661

*Government — 0.6%*
Svensk Exportkredit AB, 0.625%, 10/07/24		3,000,000		2,784,063

TOTAL YANKEE CORPORATE BONDS AND NOTES (Identified Cost $68,510,736)				63,820,598

CORPORATE BONDS AND NOTES — 23.5%
*Basic Material — 0.9%*
Georgia-Pacific LLC, 3.600%, 3/01/25 ±		4,000,000		3,865,078

*Communications — 1.8%*
Amazon.com, Inc., 2.730%, 4/13/24		5,000,000		4,884,027
Booking Holdings, Inc., 3.650%, 3/15/25		2,000,000		1,942,161
Omnicom Group, Inc./Omnicom Capital, Inc., 3.650%, 11/01/24		1,004,000		979,789

				7,805,977

*Consumer, Cyclical — 1.9%*
Marriott International, Inc., 3.600%, 4/15/24		2,750,000		2,687,572
Mercedes-Benz Finance North America LLC, 2.700%, 6/14/24 ±		2,000,000		1,927,732
Volkswagen Group of America Finance LLC, 2.850%, 9/26/24 ±		2,000,000		1,917,419


	FACE AMOUNT		VALUE†
Walgreens Boots Alliance, Inc., 3.800%, 11/18/24	$	2,001,000	$	1,959,055

				8,491,778

*Consumer, Non-cyclical — 5.1%*
Amgen, Inc., 3.125%, 5/01/25		4,000,000		3,838,101
Bayer US Finance LLC, 3.375%, 10/08/24 ±		3,000,000		2,891,999
Cardinal Health, Inc., 3.079%, 6/15/24		3,165,000		3,060,303
Cigna Corp., 3.500%, 6/15/24		3,000,000		2,941,822
Elevance Health, Inc., 2.375%, 1/15/25		2,500,000		2,362,154
Elevance Health, Inc., 3.500%, 8/15/24		2,000,000		1,958,360
Gilead Sciences, Inc., 3.500%, 2/01/25		3,000,000		2,897,089
Gilead Sciences, Inc., 3.700%, 4/01/24		1,001,000		986,194
Laboratory Corp. of America Holdings, 3.600%, 2/01/25		2,000,000		1,932,192

				22,868,214

*Energy — 1.4%*
Energy Transfer LP, 4.050%, 3/15/25		2,500,000		2,399,802
Marathon Petroleum Corp., 3.625%, 9/15/24		3,000,000		2,909,170
Schlumberger Holdings Corp., 3.750%, 5/01/24 ±		1,000,000		981,112

				6,290,084

*Financial — 9.1%*
Ally Financial, Inc., 3.875%, 5/21/24		2,483,000		2,428,247
American Express Co., 3.375%, 5/03/24		4,500,000		4,391,451
Bank of New York Mellon Corp. (The), 1.600%, 4/24/25		4,000,000		3,699,512
Charles Schwab Corp. (The), 3.000%, 3/10/25		3,000,000		2,879,592
Citigroup, Inc., 3.750%, 6/16/24		3,000,000		2,952,704
Goldman Sachs Group, Inc. (The), 3.500%, 1/23/25		668,000		642,675
Goldman Sachs Group, Inc. (The), 3.850%, 7/08/24		2,000,000		1,956,668
Morgan Stanley, 3.875%, 4/29/24		4,800,000		4,716,599
Nuveen Finance LLC, 4.125%, 11/01/24 ±		4,000,000		3,900,460
Realty Income Corp., 3.875%, 4/15/25		2,000,000		1,947,497
Truist Financial Corp., 2.850%, 10/26/24		3,500,000		3,367,275
Vornado Realty LP, 3.500%, 1/15/25		3,260,000		3,054,545
Wells Fargo & Co., 3.300%, 9/09/24		4,500,000		4,344,065

				40,281,290

*Industrial — 1.0%*
Penske Truck Leasing Co. LP/PTL Finance Corp., 3.450%, 7/01/24 ±		1,750,000		1,685,348
Raytheon Technologies Corp., 3.200%, 3/15/24		2,695,000		2,637,481

				4,322,829

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

SA U.S. Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	FACE AMOUNT		VALUE†
CORPORATE BONDS AND NOTES (Continued)
*Technology — 0.8%*
International Business Machines Corp., 3.000%, 5/15/24	$	700,000	$	681,501
Oracle Corp., 2.500%, 4/01/25		3,250,000		3,031,673

				3,713,174

*Utilities — 1.5%*
American Water Capital Corp., 3.400%, 3/01/25		4,000,000		3,861,068
Edison International, 3.550%, 11/15/24		3,000,000		2,883,855

				6,744,923

TOTAL CORPORATE BONDS AND NOTES (Identified Cost $109,643,142)				104,383,347

U.S. GOVERNMENT & AGENCY OBLIGATIONS —61.7%
*U.S. Treasury Securities — 61.7%*
U.S. Treasury Note, 0.125%, 10/15/23		45,000,000		43,121,320
U.S. Treasury Note, 0.125%, 12/15/23		18,000,000		17,134,453
U.S. Treasury Note, 0.250%, 9/30/23		44,500,000		42,763,793
U.S. Treasury Note, 0.250%, 11/15/23		44,000,000		42,068,125
U.S. Treasury Note, 0.375%, 10/31/23		44,000,000		42,195,313
U.S. Treasury Note, 0.500%, 11/30/23		46,250,000		44,281,665
U.S. Treasury Note, 0.750%, 12/31/23		43,750,000		41,897,461

				273,462,130

TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Identified Cost $277,256,593)				273,462,130


	SHARES
SHORT-TERM INVESTMENTS — 0.3%
Investment Company — 0.3%
State Street Institutional U.S. Government Money Market Fund 2.690%		1,426,782		1,426,782

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $1,426,782)				1,426,782

Total Investments — 99.9% (Identified Cost $456,837,253)				443,092,857

Cash and Other Assets, Less Liabilities — 0.1%				574,034

Net Assets — 100.0%			$	443,666,891

†	See Note 1

144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at September 30, 2022 amounted to $42,798,687 or 9.65% of the net assets of the Fund.

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

Portfolio Sectors as of September 30, 2022

(As a percentage of total investments (excluding short-term investment)) (Unaudited)


Sector	Percentage
Government		62.6	%
Financial		22.2	%
Consumer, Non-cyclical		5.2	%
Communications		2.5	%
Consumer, Cyclical		1.9	%
Utilities		1.5	%
Energy		1.4	%
Industrial		1.0	%
Basic Materials		0.9	%
Technology		0.8	%

		100.0	%

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
COMMON STOCKS — 98.2%
*Belgium — 0.0%*
Titan Cement International SA *		2,956	$	31,404

*Brazil — 4.0%*
Americanas SA		19,397		61,057
Anima Holding SA *		10,000		11,234
Atacadao SA		18,062		64,723
Banco Bradesco SA		55,533		167,906
Banco Bradesco SA, ADR		136,380		501,878
Banco do Brasil SA		42,599		304,191
Banco Santander Brasil SA		15,497		87,161
BrasilAgro—Co. Brasileira de Propriedades Agricolas		4,100		22,954
BRF SA *		22,299		53,243
Camil Alimentos SA		8,900		15,657
Cia Brasileira de Distribuicao		13,155		47,286
Cia Siderurgica Nacional SA		26,464		62,403
Cia Siderurgica Nacional SA, ADR		17,252		41,060
Cielo SA		94,852		94,951
Cogna Educacao *		137,975		75,198
Cyrela Brazil Realty SA Empreendimentos e Participacoes		22,413		76,242
Direcional Engenharia SA		8,900		27,800
Embraer SA *		7,694		16,617
Embraer SA, ADR *		9,779		84,099
Enauta Participacoes SA		13,118		35,310
Ez Tec Empreendimentos e Participacoes SA		8,100		31,893
Gerdau SA, ADR		73,328		331,443
Getnet Adquirencia e Servicos para Meios de Pagamento SA		3,874		3,361
Guararapes Confeccoes SA		6,900		11,179
Hapvida Participacoes e Investimentos SA ±		193,170		271,079
Hypera SA		4,610		37,816
International Meal Co. Alimentacao SA Class A *		16,347		6,061
Iochpe Maxion SA		12,197		28,716
IRB Brasil Resseguros S/A *		70,386		14,353
JBS SA		49,951		232,608
JHSF Participacoes SA		40,831		56,012
M Dias Branco SA		8,468		68,773
MRV Engenharia e Participacoes SA		22,336		51,427
Multilaser Industrial SA		11,334		11,010
Natura & Co. Holding SA		51,408		140,377
Petroleo Brasileiro SA		297,600		1,824,985
Petroleo Brasileiro SA, ADR		1,600		19,744
Positivo Tecnologia SA		9,100		21,003
TIM SA		52,297		117,113
Tupy SA		10,847		50,471
Ultrapar Participacoes SA		26,011		56,561
Usinas Siderurgicas de Minas Gerais SA		9,100		13,833
Vale SA		107,490		1,435,498
Via S/A *		30,244		17,885
Vibra Energia SA		6,473		20,699
YDUQS Participacoes SA		4,158		11,138

				6,736,008

*British Virgin Islands — 0.0%*
AsiaInfo Technologies Ltd. ±		10,000		13,504

				13,504

*Canada — 0.0%*
China Gold International Resources Corp. Ltd.		10,100		25,682

*Cayman Islands — 0.1%*
Baozun, Inc., Class A *		4,600		8,872


	SHARES		VALUE†
Bizlink Holding, Inc.		2,000	$	17,670
DouYu International Holdings Ltd., ADR *		2,931		2,931
Edvantage Group Holdings Ltd.		31,116		7,690
Fulgent Sun International Holding Co. Ltd.		8,000		40,064
Gourmet Master Co. Ltd.		5,000		16,615
Hello Group, Inc., ADR		2,518		11,633
HUYA, Inc., ADR *		1,730		3,841
Yeahka Ltd. *@		6,400		14,447

				123,763

*Chile — 0.5%*
CAP SA		4,662		30,149
Cencosud SA		120,649		152,679
Cia Sud Americana de Vapores SA		206,953		14,260
Empresa Nacional de Telecomunicaciones SA		13,467		38,258
Empresas CMPC SA		54,329		82,677
Empresas COPEC SA		32,701		209,487
Enel Americas SA		1,042,835		109,884
Falabella SA		38,983		77,724
Grupo Security SA		123,808		19,184
Hortifrut SA		6,080		5,050
Inversiones Aguas Metropolitanas SA		20,304		8,594
Itau CorpBanca Chile SA		10,190,153		19,296
PAZ Corp. SA		9,073		3,020
Sigdo Koppers SA		27,803		32,973
SMU SA		147,411		14,177
Sociedad Matriz SAAM SA		550,961		31,873
SONDA SA		83,617		31,097

				880,382

*China — 29.8%*
360 DigiTech, Inc., ADR		5,298		67,920
360 Security Technology, Inc., Class A		20,500		18,791
361 Degrees International Ltd. *		71,000		33,014
3SBio, Inc. ±		106,000		75,216
A-Living Smart City Services Co. Ltd. ±		41,000		32,488
AAC Technologies Holdings, Inc. *@		60,500		94,646
Accelink Technologies Co. Ltd. Class A		9,200		19,668
Advanced Technology & Materials Co. Ltd. Class A *		13,900		14,839
Agile Group Holdings Ltd. @		131,091		30,728
Agricultural Bank of China Ltd., H Shares		2,105,000		630,187
Air China Ltd., Class H *		88,000		67,264
Alibaba Group Holding Ltd. *		202,200		2,007,923
Aluminum Corp. of China Ltd., H Shares		328,000		107,388
Angang Steel Co. Ltd., H Shares		142,999		35,341
Anhui Conch Cement Co. Ltd., H Shares		117,500		372,724
Anhui Guangxin Agrochemical Co. Ltd., Class A		3,080		11,193
Anhui Huilong Agricultural Means of Production Co. Ltd. Class A		6,500		8,580
Anhui Truchum Advanced Materials & Technology Co. Ltd., Class A		13,800		16,717
Anhui Zhongding Sealing Parts Co. Ltd., Class A		13,300		26,277
Anton Oilfield Services Group *		226,000		10,077
Asia Cement China Holdings Corp.		40,000		16,408
Avary Holding Shenzhen Co. Ltd., Class A		12,300		44,942
AviChina Industry & Technology Co. Ltd., H Shares		254,000		98,369
BAIC Motor Corp. Ltd., H Shares ±		145,000		31,772
Baidu, Inc., ADR *		12,143		1,426,681
Bank of Beijing Co. Ltd., Class A		98,400		57,032
Bank of Changsha Co. Ltd., Class A		25,500		23,806
Bank of Chengdu Co. Ltd., Class A		26,000		59,984
Bank of China Ltd., H Shares		5,235,902		1,714,251

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
Bank of Chongqing Co. Ltd., H Shares		46,500	$	22,274
Bank of Communications Co. Ltd., H Shares		565,400		298,199
Bank of Guiyang Co. Ltd., Class A		22,500		17,197
Bank of Hangzhou Co. Ltd., Class A		32,101		64,508
Bank of Jiangsu Co. Ltd. Class A		80,100		84,040
Bank of Nanjing Co. Ltd., Class A		61,300		90,940
Bank of Ningbo Co. Ltd., Class A		38,780		172,539
Bank of Shanghai Co. Ltd., Class A		68,500		56,510
Bank of Suzhou Co. Ltd., Class A		22,220		20,900
Baoshan Iron & Steel Co. Ltd., Class A		124,500		92,350
BBMG Corp., H Shares		184,000		22,269
Beijing Capital Development Co. Ltd., Class A		12,200		7,536
Beijing Capital Eco-Environment Protection Group Co. Ltd. Class A		48,000		17,599
Beijing Capital International Airport Co. Ltd., H Shares *		190,000		102,871
Beijing Dabeinong Technology Group Co. Ltd., Class A *		18,000		20,307
Beijing Energy International Holding Co. Ltd. *		310,000		8,017
Beijing Enlight Media Co. Ltd., Class A		11,300		11,314
Beijing Enterprises Holdings Ltd.		46,000		129,216
Beijing Enterprises Water Group Ltd.		448,000		103,301
Beijing GeoEnviron Engineering & Technology, Inc., Class A		11,232		16,790
Beijing Jetsen Technology Co. Ltd. Class A *		28,600		17,907
Beijing New Building Materials PLC Class A		4,200		14,244
Beijing North Star Co. Ltd., Class H		100,000		10,446
Beijing Orient Landscape & Environment Co. Ltd., Class A *		20,000		5,866
Beijing Orient National Communication Science & Technology Co. Ltd., Class A *		8,200		8,349
Beijing Originwater Technology Co. Ltd., Class A		5,558		3,699
Beijing Shiji Information Technology Co. Ltd., Class A		4,508		7,864
Beijing Shougang Co. Ltd., Class A		27,500		13,845
Beijing Shunxin Agriculture Co. Ltd., Class A		6,100		17,127
Beijing Sinnet Technology Co. Ltd., Class A		12,200		13,746
Beijing SL Pharmaceutical Co. Ltd., Class A		8,900		10,329
Beijing Thunisoft Corp. Ltd., Class A *		4,400		3,617
Beijing Yanjing Brewery Co. Ltd., Class A		9,600		12,631
Beijing-Shanghai High Speed Railway Co. Ltd., Class A		108,000		68,840
BGI Genomics Co. Ltd. Class A		1,800		13,537
Blue Sail Medical Co. Ltd., Class A *		12,900		14,153
Bluefocus Intelligent Communications Group Co. Ltd., Class A		23,100		14,594
BOE Technology Group Co. Ltd., Class A		220,300		101,588
Bohai Leasing Co. Ltd., Class A *		64,900		18,854
Bright Dairy & Food Co. Ltd., Class A		7,700		11,369
Brilliance China Automotive Holdings Ltd. *§		178,000		31,066
BTG Hotels Group Co. Ltd., Class A		5,700		17,194
BYD Electronic International Co. Ltd.		64,000		154,585


	SHARES		VALUE†
C C Land Holdings Ltd.		106,500	$	25,778
C&D International Investment Group Ltd.		21,187		54,657
C&S Paper Co. Ltd. Class A		6,700		9,618
Caitong Securities Co. Ltd., Class A		15,470		14,747
CECEP Solar Energy Co. Ltd., Class A *		30,100		28,991
CECEP Wind-Power Corp., Class A		37,700		23,392
Central China Management Co. Ltd.		81,000		7,223
Central China Real Estate Ltd.		84,106		3,375
CGN New Energy Holdings Co. Ltd. @		130,000		37,263
Changjiang Securities Co. Ltd., Class A		39,900		29,315
Chaowei Power Holdings Ltd.		71,000		14,653
Chengdu Kanghong Pharmaceutical Group Co. Ltd. Class A		4,900		11,519
Chengdu Wintrue Holding Co. Ltd., Class A		8,900		15,161
Chengtun Mining Group Co. Ltd., Class A		19,700		18,030
China Aircraft Leasing Group Holdings Ltd.		16,000		9,437
China Baoan Group Co. Ltd., Class A		9,000		14,240
China BlueChemical Ltd., H Shares		192,000		39,869
China Bohai Bank Co. Ltd., Class H ±		141,000		19,220
China Cinda Asset Management Co. Ltd., Class H		561,000		62,177
China Citic Bank Corp. Ltd., H Shares		613,000		243,649
China Coal Energy Co. Ltd., H Shares		158,000		143,313
China Communication Services Corp. Ltd., H Shares		231,600		77,892
China Conch Venture Holdings Ltd.		80,500		128,396
China Construction Bank Corp., H Shares		7,185,810		4,156,055
China Development Bank Financial Leasing Co. Ltd., H Shares ±		128,000		15,491
China Dongxiang Group Co. Ltd. *		389,000		16,106
China Eastern Airlines Corp. Ltd., ADR *		403		6,859
China Eastern Airlines Corp. Ltd., H Shares *@		86,000		29,252
China Education Group Holdings Ltd.		30,000		22,205
China Energy Engineering Corp.		88,674		28,011
China Energy Engineering Corp. Ltd., H Shares		152,000		15,878
China Everbright Bank Co. Ltd., H Shares		241,000		66,316
China Everbright Greentech Ltd. @±		65,000		12,421
China Everbright Ltd.		88,000		50,897
China Foods Ltd.		86,000		25,637
China Galaxy Securities Co. Ltd., H Shares		194,500		89,945
China Gas Holdings Ltd.		211,800		253,902
China Great Wall Securities Co. Ltd., Class A		8,500		9,805
China Greatwall Technology Group Co. Ltd. Class A		15,387		18,531
China Harmony Auto Holding Ltd.		62,000		11,927
China High Speed Transmission Equipment Group Co. Ltd. *		44,000		19,843
China Hongqiao Group Ltd.		162,500		134,560
China International Marine Containers Group Co. Ltd., Class H @		74,460		47,429
China Jinmao Holdings Group Ltd.		440,000		89,686
China Jushi Co. Ltd., Class A		22,631		42,063
China Lesso Group Holdings Ltd.		100,000		93,125
China Life Insurance Co. Ltd., Class H		277,000		354,999
China Lilang Ltd.		31,000		13,230
China Medical System Holdings Ltd.		97,000		115,787
China Meheco Co. Ltd., Class A		13,860		23,533
China Merchants Bank Co. Ltd., H Shares		253,000		1,176,422

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
China Merchants Energy Shipping Co. Ltd., Class A		56,880	$	56,951
China Merchants Land Ltd. *		118,000		8,118
China Merchants Port Holdings Co. Ltd.		84,516		106,269
China Merchants Securities Co. Ltd., H Shares @±		19,660		17,031
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		22,000		50,694
China Minsheng Banking Corp. Ltd., H Shares @		395,880		113,474
China Modern Dairy Holdings Ltd. @		290,000		33,250
China National Accord Medicines Corp. Ltd., Class A		5,200		21,904
China National Building Material Co. Ltd., H Shares		418,850		320,688
China National Medicines Corp. Ltd., Class A		2,900		10,187
China New Higher Education Group Ltd. ±		74,000		18,100
China Nonferrous Metal Industry’s Foreign Engineering and Construction Co. Ltd. Class A *		15,100		9,369
China Oil & Gas Group Ltd. *		200,000		7,007
China Oilfield Services Ltd., H Shares		168,000		166,723
China Oriental Group Co. Ltd.		122,000		19,583
China Overseas Grand Oceans Group Ltd.		141,402		52,420
China Overseas Land & Investment Ltd.		376,500		980,862
China Pacific Insurance Group Co. Ltd., H Shares		203,200		374,319
China Petroleum & Chemical Corp., H Shares		1,892,400		812,442
China Railway Group Ltd., H Shares		326,000		159,892
China Railway Signal & Communication Corp. Ltd. H Shares ±		149,000		41,001
China Reinsurance Group Corp., H Shares		323,000		19,957
China Renaissance Holdings Ltd. *±@		11,300		9,703
China Resources Cement Holdings Ltd.		238,000		110,364
China Resources Double Crane Pharmaceutical Co. Ltd., Class A		6,300		15,627
China Resources Gas Group Ltd.		70,000		222,494
China Resources Land Ltd.		338,000		1,330,531
China Resources Medical Holdings Co. Ltd.		71,500		38,348
China Resources Pharmaceutical Group Ltd. ±		134,500		92,355
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A		7,900		42,791
China Risun Group Ltd.		31,000		12,124
China Sanjiang Fine Chemicals Co. Ltd.		44,000		8,913
China SCE Group Holdings Ltd.		170,000		11,045
China Shanshui Cement Group Ltd. *@		53,000		11,546
China Shenhua Energy Co. Ltd., H Shares		293,000		875,307
China Shineway Pharmaceutical Group Ltd.		36,000		22,335
China South City Holdings Ltd. *@		508,000		26,210
China South Publishing & Media Group Co. Ltd., Class A		11,600		16,097
China Southern Airlines Co. Ltd., H Shares *@		120,000		63,289
China Sunshine Paper Holdings Co. Ltd.		26,000		5,863
China Taiping Insurance Holdings Co. Ltd.		137,800		116,038
China Tianrui Group Cement Co. Ltd. *@		11,000		8,800
China Tower Corp. Ltd., Class H ±		3,372,000		360,842
China Traditional Chinese Medicine Holdings Co. Ltd.		260,000		90,756


	SHARES		VALUE†
China TransInfo Technology Co. Ltd., Class A *		6,900	$	8,086
China Travel International Investment Hong Kong Ltd. *		180,000		31,645
China Vanke Co. Ltd., Class H		158,172		288,148
China Yongda Automobiles Services Holdings Ltd.		84,000		45,052
China Zhongwang Holdings Ltd. *@§		154,000		6,180
Chinese Universe Publishing and Media Group Co. Ltd., Class A		9,200		10,885
Chongqing Changan Automobile Co. Ltd., Class A		40,430		71,610
Chongqing Department Store Co. Ltd., Class A		2,400		6,948
Chongqing Rural Commercial Bank Co. Ltd., H Shares		226,000		73,417
Chow Tai Seng Jewellery Co. Ltd. Class A		9,125		14,927
CIFI Ever Sunshine Services Group Ltd. @		18,000		6,696
CIFI Holdings Group Co. Ltd. @		397,617		40,523
CIMC Enric Holdings Ltd.		74,000		78,905
CITIC Ltd.		375,000		353,519
CITIC Securities Co. Ltd., Class H		83,950		142,668
Citychamp Watch & Jewellery Group Ltd. *		62,000		8,925
CMOC Group Ltd. Class H @		66,000		25,813
CNHTC Jinan Truck Co. Ltd., Class A		2,800		4,012
CNNC Hua Yuan Titanium Dioxide Co. Ltd., Class A		21,460		20,851
COFCO Biotechnology Co. Ltd., Class A		15,100		17,120
COFCO Joycome Foods Ltd. *		162,000		43,546
Concord New Energy Group Ltd.		420,000		34,779
Consun Pharmaceutical Group Ltd.		23,000		9,845
COSCO SHIPPING Development Co. Ltd., H Shares		324,200		40,888
COSCO SHIPPING Energy Transportation Co. Ltd., H Shares *		136,000		113,136
COSCO SHIPPING Holdings Co. Ltd., H Shares		244,199		286,519
COSCO SHIPPING Ports Ltd.		156,998		99,003
Country Garden Holdings Co. Ltd. @		847,376		196,470
CPMC Holdings Ltd.		53,000		22,079
CSG Holding Co. Ltd., Class A		19,500		19,084
CSSC Hong Kong Shipping Co. Ltd.		70,000		10,434
CTS International Logistics Corp. Ltd., Class A		11,000		14,876
Dali Foods Group Co. Ltd. ±		116,500		50,164
Daqin Railway Co. Ltd., Class A		85,800		81,914
DBG Technology Co. Ltd.,Class A		7,000		9,585
Dexin China Holdings Co. Ltd. *		76,000		13,458
DHC Software Co. Ltd., Class A		28,100		21,121
Digital China Holdings Ltd.		62,000		24,880
Digital China Information Service Co. Ltd., Class A		10,000		13,608
Dong-E-E-Jiao Co. Ltd., Class A		3,300		15,073
Dongfang Electric Corp. Ltd. H Shares		29,800		40,621
Dongfeng Motor Group Co. Ltd., H Shares		150,000		80,258
Dongxing Securities Co. Ltd., Class A		12,000		12,523
Dongyue Group Ltd.		91,000		90,772
Dynagreen Environmental Protection Group Co. Ltd., Class H		52,000		15,766
E-Commodities Holdings Ltd.		94,000		19,639
EEKA Fashion Holdings Ltd.		8,000		10,885
Eoptolink Technology, Inc. Ltd. Class A		4,400		13,117
Essex Bio-technology Ltd.		37,000		16,073
Eternal Asia Supply Chain Management Ltd. Class A		24,300		18,916

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
EVA Precision Industrial Holdings Ltd. @		92,000	$	15,119
Everbright Securities Co. Ltd., Class H ±		16,000		8,642
Fangda Carbon New Material Co. Ltd., Class A *		15,700		13,793
Fangda Special Steel Technology Co. Ltd., Class A		19,000		16,157
Far East Horizon Ltd.		200,000		135,038
FAW Jiefang Group Co. Ltd., Class A		24,100		24,402
Fiberhome Telecommunication Technologies Co. Ltd., Class A		5,800		10,159
FIH Mobile Ltd. *		203,000		20,947
Financial Street Holdings Co. Ltd., Class A		23,300		16,692
FinVolution Group, ADR		11,439		48,959
Fosun International Ltd.		195,500		121,290
Founder Securities Co. Ltd., Class A		23,800		21,984
Foxconn Industrial Internet Co. Ltd. Class A		66,600		80,019
Fu Shou Yuan International Group Ltd.		65,000		35,855
Fufeng Group Ltd.		153,000		78,160
Fujian Funeng Co. Ltd., Class A		14,100		21,256
Fujian Sunner Development Co. Ltd., Class A		9,000		24,571
Gan & Lee Pharmaceuticals Co. Ltd., Class A		3,400		16,268
Gansu Shangfeng Cement Co. Ltd., Class A		6,240		10,894
GCL Energy Technology Co. Ltd.		4,200		7,794
GCL New Energy Holdings Ltd. *		125,610		1,376
GCL Technology Holdings Ltd. *		395,000		120,770
GDS Holdings Ltd., Class A *		39,500		86,552
Geely Automobile Holdings Ltd.		411,000		566,525
GEM Co. Ltd., Class A		33,500		34,864
Gemdale Corp., Class A		19,200		31,110
Gemdale Properties & Investment Corp. Ltd.		442,000		29,843
Genertec Universal Medical Group Co. Ltd. ±		75,500		38,665
GF Securities Co. Ltd., Class H		64,200		69,928
Giant Network Group Co. Ltd., Class A		9,400		9,955
Glory Sun Financial Group Ltd. *@		356,000		771
Golden Eagle Retail Group Ltd. *		15,000		9,535
Grand Pharmaceutical Group Ltd.		88,500		38,220
Grandjoy Holdings Group Co. Ltd., Class A *		30,000		14,172
Greattown Holdings Ltd., Class A *		34,100		15,244
Greatview Aseptic Packaging Co. Ltd.		88,000		12,444
Gree Electric Appliances, Inc., Class A		13,800		63,111
Greenland Hong Kong Holdings Ltd.		112,000		7,705
Greentown China Holdings Ltd.		78,500		147,607
GRG Banking Equipment Co. Ltd., Class A		12,500		14,366
Guangdong HEC Technology Holding Co. Ltd., Class A *		28,100		34,871
Guangdong Huatie Tongda High-speed Railway Equipment Corp., Class A		22,300		12,893
Guangdong Provincial Expressway Development Co. Ltd. Class A		12,700		13,253
Guangdong Tapai Group Co. Ltd., Class A		9,300		9,836
Guanghui Energy Co. Ltd., Class A		26,800		46,410
Guangshen Railway Co. Ltd.,Class H *		82,000		11,178
Guangxi Liugong Machinery Co. Ltd., Class A		14,900		11,872


	SHARES		VALUE†
Guangxi Wuzhou Zhongheng Group Co. Ltd., Class A		24,500	$	8,948
Guangzhou Automobile Group Co. Ltd., H Shares		188,000		134,121
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H		16,000		34,570
Guangzhou Haige Communications Group, Inc. Co., Class A		22,300		24,435
Guangzhou Yuexiu Financial Holdings Group Co. Ltd., Class A		18,042		14,452
Guizhou Panjiang Refined Coal Co. Ltd., Class A		9,269		11,084
Guosen Securities Co. Ltd., Class A		22,400		27,166
Guosheng Financial Holding, Inc., Class A *		14,131		15,205
Guotai Junan Securities Co. Ltd., H Shares ±		29,000		30,812
Haier Smart Home Co. Ltd., Class A		20,500		71,608
Hainan Meilan International Airport Co. Ltd., H Shares *		12,000		28,893
Haitian International Holdings Ltd.		44,000		83,632
Haitong Securities Co. Ltd., Class H		169,600		89,881
Han’s Laser Technology Industry Group Co. Ltd., Class A		8,900		32,707
Hang Zhou Great Star Industrial Co. Ltd., Class A *		4,400		11,789
Hangzhou Binjiang Real Estate Group Co. Ltd., Class A		22,900		33,811
Hangzhou Robam Appliances Co. Ltd. Class A		2,900		9,377
Health & Happiness H&H International Holdings Ltd.		18,500		17,393
Heilongjiang Agriculture Co. Ltd., Class A		8,000		15,016
Hengan International Group Co. Ltd.		55,500		248,170
Hengdeli Holdings Ltd. *		184,000		5,626
Hengli Petrochemical Co. Ltd., Class A		35,500		84,705
Hengtong Optic-electric Co. Ltd., Class A		9,680		24,844
Hengyi Petrochemical Co. Ltd., Class A		25,000		27,182
Hesteel Co. Ltd., Class A		65,500		20,783
Hi Sun Technology China Ltd. *@		138,000		15,295
Hisense Home Appliances Group Co. Ltd., Class H		34,000		30,883
Holitech Technology Co. Ltd., Class A *		35,900		13,163
Hongda Xingye Co. Ltd., Class A *		21,200		10,165
Hope Education Group Co. Ltd. @±		120,000		8,561
Hopson Development Holdings Ltd. @		70,180		73,491
Hua Hong Semiconductor Ltd. *±		43,000		98,384
Huaan Securities Co. Ltd., Class A		23,372		14,996
Huadong Medicine Co. Ltd., Class A		8,421		47,644
Huafon Chemical Co. Ltd., Class A		27,754		25,558
Huafon Microfibre Shanghai Technology Co. Ltd., Class T *		25,700		13,120
Huagong Tech Co. Ltd., Class A		6,200		16,157
Huaibei Mining Holdings Co. Ltd. Class A		10,400		24,712
Huapont Life Sciences Co. Ltd., Class A		27,600		20,706
Huatai Securities Co. Ltd., Class H ±		58,600		64,500
Huaxi Securities Co. Ltd., Class A		12,600		13,024
Huaxia Bank Co. Ltd., Class A		43,300		30,714
Huaxin Cement Co. Ltd., Class A		7,000		16,535
Huayu Automotive Systems Co. Ltd., Class A		17,500		40,769
Hubei Biocause Pharmaceutical Co. Ltd., Class A		17,600		7,520

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
Hubei Jumpcan Pharmaceutical Co. Ltd., Class A		4,400	$	14,215
Hubei Xingfa Chemicals Group Co. Ltd., Class A		9,400		44,381
Humanwell Healthcare Group Co. Ltd., Class A		9,700		23,979
Hunan Gold Corp. Ltd., Class A		15,800		26,760
Hunan Valin Steel Co. Ltd., Class A		47,300		27,215
Hytera Communications Corp. Ltd., Class A *		23,400		14,783
IMAX China Holding, Inc. ±		6,300		4,486
Industrial & Commercial Bank of China Ltd., H Shares		4,073,000		1,909,466
Industrial Bank Co. Ltd. Class A		122,900		288,567
Industrial Securities Co. Ltd., Class A *		52,910		40,664
Infore Environment Technology Group Co. Ltd., Class A		12,400		8,131
Ingdan, Inc. *±		40,000		7,949
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A		169,960		44,101
Inner Mongolia Dian Tou Energy Corp. Ltd., Class A		12,000		22,118
Inner Mongolia ERDOS Resources Co. Ltd. Class A		8,400		17,970
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A		55,300		30,648
Inner Mongolia Yitai Coal Co. Ltd. Class H		9,800		12,884
Inner Mongolia Yuan Xing Energy Co. Ltd., Class A		34,700		36,358
Inspur Electronic Information Industry Co. Ltd., Class A		5,700		15,875
Intco Medical Technology Co. Ltd. Class A		5,700		16,020
JCET Group Co. Ltd., Class A		17,895		54,080
Jiangsu Changshu Rural Commercial Bank Co. Ltd., Class A		20,200		22,675
Jiangsu Eastern Shenghong Co. Ltd., Class A		5,100		12,528
Jiangsu Guotai International Group Co. Ltd., Class A		10,400		12,187
Jiangsu Jiangyin Rural Commercial Bank Co. Ltd., Class A		34,700		20,993
Jiangsu Nhwa Pharmaceutical Co. Ltd., Class A		6,700		14,730
Jiangsu Provincial Agricultural Reclamation and Development Corp.		11,200		18,163
Jiangsu Shuangxing Color Plastic New Materials Co. Ltd., Class A		10,800		22,723
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A		5,600		22,752
Jiangsu Zhangjiagang Rural Commercial Bank Co. Ltd., Class A		27,840		18,256
Jiangsu Zhongtian Technology Co. Ltd., Class A		18,600		58,938
Jiangxi Copper Co. Ltd., H Shares		82,000		94,853
Jiaozuo Wanfang Aluminum Manufacturing Co. Ltd., Class A		17,100		13,094
Jilin Aodong Pharmaceutical Group Co. Ltd., Class A		7,300		13,774
Jinchuan Group International Resources Co. Ltd. @		129,000		12,490
Jingrui Holdings Ltd. *§		43,000		2,424
JinkoSolar Holding Co. Ltd., ADR *@		4,223		233,912


	SHARES		VALUE†
Jinneng Science&Technology Co. Ltd., Class A		10,600	$	13,902
Jizhong Energy Resources Co. Ltd., Class A		21,200		21,675
JNBY Design Ltd.		16,500		16,122
Joincare Pharmaceutical Group Industry Co. Ltd., Class A		18,700		27,742
Jointown Pharmaceutical Group Co. Ltd., Class A		10,700		17,262
Joy City Property Ltd. *		226,000		6,766
Joyoung Co. Ltd. Class A		9,600		19,995
JOYY, Inc., ADR		3,932		102,232
Ju Teng International Holdings Ltd.		56,000		10,487
Juneyao Airlines Co. Ltd., Class A *		9,700		20,710
Kingboard Holdings Ltd.		71,500		202,213
Kingboard Laminates Holdings Ltd.		96,000		86,465
Kingfa Sci & Tech Co. Ltd. Class A		13,400		17,725
Kingsoft Corp. Ltd.		64,600		172,000
Kunlun Energy Co. Ltd.		354,000		255,703
Kunlun Tech Co. Ltd., Class A		5,800		10,126
KWG Living Group Holdings Ltd.		65,000		8,695
Lakala Payment Co. Ltd. Class A *		4,300		8,295
Lao Feng Xiang Co. Ltd., Class A		2,700		15,017
LB Group Co. Ltd., Class A		11,200		24,876
Lee & Man Chemical Co. Ltd.		16,000		11,068
Lee & Man Paper Manufacturing Ltd.		122,000		39,166
Lee’s Pharmaceutical Holdings Ltd. @		34,500		7,296
Legend Holdings Corp., H Shares ±		38,400		33,363
Lenovo Group Ltd.		40,000		27,823
Lens Technology Co. Ltd., Class A		24,140		31,421
Leo Group Co. Ltd., Class A *		48,000		11,846
Lepu Medical Technology Beijing Co. Ltd. Class A		7,800		23,242
LexinFintech Holdings Ltd., ADR *@		16,062		27,145
Leyard Optoelectronic Co. Ltd., Class A		20,300		15,773
Liaoning Cheng Da Co. Ltd., Class A		5,800		10,060
Lingyi iTech Guangdong Co., Class A *		42,800		26,859
Livzon Pharmaceutical Group, Inc., H Shares		14,100		35,350
Logan Group Co. Ltd. @		47,000		3,293
Longfor Group Holdings Ltd. ±		154,500		443,838
Lonking Holdings Ltd.		158,000		23,148
Luenmei Quantum Co. Ltd., Class A		13,300		13,279
Luolai Lifestyle Technology Co. Ltd., Class A		5,300		7,631
Luoniushan Co. Ltd., Class A *		16,000		14,215
Luxi Chemical Group Co. Ltd., Class A		8,600		15,718
Luye Pharma Group Ltd. *@±		161,500		44,852
LVGEM China Real Estate Investment Co. Ltd. *@		72,000		7,980
Maanshan Iron & Steel Co. Ltd., H Shares		78,000		16,197
Maccura Biotechnology Co. Ltd. Class A		3,800		8,976
Mango Excellent Media Co. Ltd. Class A		11,000		38,672
Maoyan Entertainment *@±		21,200		14,746
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A *		29,300		17,643
Metallurgical Corp. of China Ltd., H Shares		225,000		36,690
Midea Real Estate Holding Ltd. ±		14,000		13,162
Ming Yang Smart Energy Group Ltd., Class A		6,800		23,139
Mingfa Group International Co. Ltd. *		91,000		4,463
Minth Group Ltd.		60,000		132,847
MLS Co. Ltd., Class A		20,000		23,353
MMG Ltd. *		192,000		45,984
Nanjing Iron & Steel Co. Ltd., Class A		36,600		14,090

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
Nanjing Xinjiekou Department Store Co. Ltd., Class A		6,900	$	8,261
NavInfo Co. Ltd., Class A		10,200		16,599
NetDragon Websoft Holdings Ltd.		25,500		46,454
New China Life Insurance Co. Ltd., H Shares		57,900		110,494
New Hope Liuhe Co. Ltd., Class A *		20,215		39,625
Newland Digital Technology Co. Ltd., Class A		10,000		17,077
Nexteer Automotive Group Ltd. @		69,000		37,446
Nine Dragons Paper Holdings Ltd.		173,000		107,551
Ningbo Huaxiang Electronic Co. Ltd., Class A		8,950		15,272
Ningbo Joyson Electronic Corp., Class A *		5,200		9,694
Ningbo Zhoushan Port Co. Ltd., Class A		33,200		16,995
Noah Holdings Ltd., ADR *		1,172		15,482
Northeast Securities Co. Ltd., Class A		8,500		7,731
OFILM Group Co. Ltd., Class A *		20,800		15,458
ORG Technology Co. Ltd., Class A		26,800		17,498
Orient Securities Co. Ltd., Class H @±		52,400		20,560
Oriental Energy Co. Ltd. Class A		11,300		12,143
Oriental Pearl Group Co. Ltd., Class A		10,700		9,235
Ourpalm Co. Ltd., Class A *		27,500		10,820
PAX Global Technology Ltd.		75,000		56,945
PCI Technology Group Co. Ltd., Class A		15,600		12,231
People’s Insurance Co. Group of China Ltd. (The), H Shares		305,000		88,590
Perfect World Co. Ltd., Class A		6,700		11,735
PetroChina Co. Ltd., H Shares		2,014,000		826,162
PICC Property & Casualty Co. Ltd., H Shares		494,000		512,273
Ping An Bank Co. Ltd., Class A		108,500		181,160
Ping An Insurance Group Co. of China Ltd., Class H		452,500		2,259,719
Pingdingshan Tianan Coal Mining Co. Ltd., Class A		15,900		30,584
Poly Property Group Co. Ltd.		200,431		35,747
Postal Savings Bank of China Co. Ltd., Class H @±		571,000		336,796
Pou Sheng International Holdings Ltd.		252,000		16,052
Power Construction Corp. of China Ltd. Class A		56,900		55,927
Q Technology Group Co. Ltd. *		31,000		12,993
Qingdao Hanhe Cable Co. Ltd., Class A		35,800		19,588
Qingling Motors Co. Ltd., Class H		84,000		10,915
Radiance Holdings Group Co. Ltd.		37,000		16,026
Red Star Macalline Group Corp. Ltd., H Shares ±		35,700		9,778
Redco Properties Group Ltd. *@±		80,000		17,937
Renhe Pharmacy Co. Ltd., Class A		19,700		15,474
RiseSun Real Estate Development Co. Ltd., Class A *		35,400		11,731
Rongsheng Petrochemical Co. Ltd. Class A		61,100		119,164
SAIC Motor Corp. Ltd., Class A		29,700		59,893
Sailun Group Co. Ltd., Class A		13,900		19,837
Sansteel Minguang Co. Ltd., Class A		13,700		9,447
Sansure Biotech, Inc. Class A		3,333		10,712
Sany Heavy Equipment International Holdings Co. Ltd.		83,000		80,995


	SHARES		VALUE†
Sany Heavy Industry Co. Ltd. Class A		44,100	$	86,319
Satellite Chemical Co. Ltd., Class A		12,162		36,480
Sealand Securities Co. Ltd., Class A		24,800		11,296
Seazen Group Ltd. *		188,571		44,202
Seazen Holdings Co. Ltd., Class A *		13,800		34,017
SF Holding Co. Ltd. Class A		14,100		93,891
Shaanxi Coal Industry Co. Ltd., Class A		50,037		160,670
Shan Xi Hua Yang Group New Energy Co. Ltd., Class A		20,800		53,590
Shandong Buchang Pharmaceuticals Co. Ltd., Class A		9,200		22,743
Shandong Chenming Paper Holdings Ltd., H Shares *		35,250		9,745
Shandong Himile Mechanical Science & Technology Co. Ltd., Class A		2,700		8,795
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A		11,310		46,524
Shandong Humon Smelting Co. Ltd., Class A		10,800		13,844
Shandong Linglong Tyre Co. Ltd., Class A		7,700		19,763
Shandong Nanshan Aluminum Co. Ltd., Class A		37,900		16,087
Shandong Sun Paper Industry JSC Ltd., Class A		16,800		27,127
Shandong Weigao Group Medical Polymer Co. Ltd., H Shares		188,000		252,913
Shanghai AJ Group Co. Ltd., Class A		16,900		12,655
Shanghai Electric Group Co. Ltd., H Shares *		166,000		32,990
Shanghai Environment Group Co. Ltd., Class A		11,600		14,559
Shanghai Industrial Holdings Ltd.		45,000		48,728
Shanghai Industrial Urban Development Group Ltd.		274,000		20,944
Shanghai International Port Group Co. Ltd., Class A		48,600		38,106
Shanghai Jinjiang International Hotels Co. Ltd., Class A		1,300		10,569
Shanghai Lingang Holdings Corp. Ltd., Class A		8,760		14,602
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class A		13,500		18,333
Shanghai Mechanical and Electrical Industry Co. Ltd., Class A		7,100		11,204
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		63,600		87,829
Shanghai Pudong Development Bank Co. Ltd., Class A		118,900		118,042
Shanghai RAAS Blood Products Co. Ltd., Class A		37,200		27,961
Shanghai Sinyang Semiconductor Materials Co. Ltd., Class A		3,000		12,366
Shanghai Tunnel Engineering Co. Ltd., Class A		25,600		17,798
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A		18,000		16,931
Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A		7,800		11,429
Shanxi Coking Coal Energy Group Co. Ltd., Class A		37,900		80,063

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A		22,000	$	52,369
Shanxi Meijin Energy Co. Ltd., Class A		31,400		42,553
Shanxi Securities Co. Ltd., Class A		24,700		17,625
Shanxi Taigang Stainless Steel Co. Ltd., Class A		34,300		21,621
Shanying International Holding Co. Ltd., Class A		37,500		12,586
Shengyi Technology Co. Ltd. Class A		18,346		33,892
Shenwan Hongyuan Group Co. Ltd., H Shares @±		43,200		7,044
Shenzhen Agricultural Products Group Co. Ltd., Class A		15,600		11,418
Shenzhen Airport Co. Ltd., Class A		16,200		15,352
Shenzhen Aisidi Co. Ltd., Class A		14,200		16,821
Shenzhen Huaqiang Industry Co. Ltd. Class A		5,900		9,926
Shenzhen International Holdings Ltd.		107,733		82,347
Shenzhen Investment Ltd.		323,060		48,976
Shenzhen Jinjia Group Co. Ltd., Class A		10,602		12,678
Shenzhen Kaifa Technology Co. Ltd. Class A		5,900		8,736
Shenzhen Kinwong Electronic Co. Ltd., Class A		2,300		6,266
Shenzhen MTC Co. Ltd., Class A *		42,300		19,446
Shenzhen Neptunus Bioengineering Co. Ltd., Class A *		28,200		12,845
Shenzhen Overseas Chinese Town Co. Ltd., Class A		43,200		29,303
Shenzhen Sunway Communication Co. Ltd. Class A		4,700		9,379
Shenzhen Tagen Group Co. Ltd., Class A		25,000		18,756
Shenzhen World Union Group, Inc., Class A *		33,300		13,430
Shenzhen Yan Tian Port Holding Co. Ltd. Class A <>		28,200		20,281
Shenzhen YUTO Packaging Technology Co. Ltd. Class A		4,900		20,799
Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., Class A		31,900		18,534
Shimao Group Holdings Ltd. @§		131,000		55,323
Shoucheng Holdings Ltd.		208,400		31,593
Shougang Fushan Resources Group Ltd.		219,790		64,120
Shui On Land Ltd.		280,000		28,536
Sichuan Hebang Biotechnology Co. Ltd., Class A		84,300		38,279
Sichuan Kelun Pharmaceutical Co. Ltd., Class A		12,500		38,851
Sichuan Road & Bridge Group Co. Ltd., Class A		20,600		29,689
Sieyuan Electric Co. Ltd., Class A		4,300		23,176
Sihuan Pharmaceutical Holdings Group Ltd.		328,000		31,757
Sino-Ocean Group Holding Ltd.		293,712		30,682
Sinofert Holdings Ltd. *		244,000		27,354
Sinolink Securities Co. Ltd., Class A		11,700		12,605
Sinoma International Engineering Co., Class A		14,600		16,903
Sinoma Science & Technology Co. Ltd., Class A		11,000		30,900
Sinopec Engineering Group Co. Ltd., H Shares		111,000		44,543
Sinopec Kantons Holdings Ltd.		90,000		24,880


	SHARES		VALUE†
Sinopec Shanghai Petrochemical Co. Ltd., Class H		248,000	$	32,542
Sinopharm Group Co. Ltd., H Shares		140,400		281,528
Sinotrans Ltd., H Shares		145,000		36,575
Sinotruk Hong Kong Ltd.		67,000		56,078
Skyworth Group Ltd.		156,114		62,647
SOHO China Ltd. *		153,500		24,444
SooChow Securities Co. Ltd., Class A		20,280		17,617
SSY Group Ltd.		124,000		52,130
Sun Art Retail Group Ltd.		122,500		26,218
Suning Universal Co. Ltd., Class A		32,100		13,942
Sunward Intelligent Equipment Co. Ltd., Class A *		10,800		9,108
Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A		10,800		35,258
Suzhou Gold Mantis Construction Decoration Co. Ltd., Class A *		15,000		9,561
Tangshan Jidong Cement Co. Ltd., Class A		10,000		11,789
TangShan Port Group Co. Ltd., Class A		55,900		20,338
Tangshan Sanyou Chemical Industries Co. Ltd., Class A		11,600		10,028
TBEA Co. Ltd., Class A		21,000		64,174
TCL Electronics Holdings Ltd.		99,667		34,917
TCL Technology Group Corp., Class A		71,400		36,550
Tencent Music Entertainment Group, ADR *		33,714		136,879
Tian Di Science & Technology Co. Ltd., Class A		40,500		27,243
Tiande Chemical Holdings Ltd.		36,000		10,640
Tiangong International Co. Ltd.		100,000		27,008
Tianjin Chase Sun Pharmaceutical Co. Ltd., Class A		30,700		22,772
Tianjin Port Development Holdings Ltd.		180,000		11,351
Tianneng Power International Ltd. @		74,000		64,670
Tianshan Aluminum Group Co. Ltd. Class A		18,200		18,377
Tianshui Huatian Technology Co. Ltd., Class A		10,300		11,765
Titan Wind Energy Suzhou Co. Ltd., Class A		8,800		15,698
Tomson Group Ltd.		24,000		4,586
Tong Ren Tang Technologies Co. Ltd., Class H		41,000		23,922
Tongda Group Holdings Ltd. *		510,000		6,172
TongFu Microelectronics Co. Ltd., Class A *		10,100		21,478
Tongkun Group Co. Ltd., Class A		11,100		21,132
Tongling Nonferrous Metals Group Co. Ltd., Class A		49,000		18,035
Tongyu Heavy Industry Co. Ltd., Class A		40,800		14,269
Topsec Technologies Group, Inc., Class A		7,000		9,082
Transfar Zhilian Co. Ltd., Class A		27,553		20,554
TravelSky Technology Ltd., H Shares		8,000		12,250
Trip.com Group Ltd., ADR *		28,782		786,036
Truly International Holdings Ltd.		120,000		18,651
Tus Environmental Science And Technology Development Co. Ltd., Class A *		23,000		10,541
Uni-President China Holdings Ltd.		92,000		77,237
Unisplendour Corp. Ltd., Class A		13,940		31,178
United Energy Group Ltd.		692,000		79,341
Universal Scientific Industrial Shanghai Co. Ltd., Class A		10,000		21,266
Untrade Hua Han Health @§*		504,000		—
Untrade Huiyuan Juice §		84,500		—

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
Victory Giant Technology Huizhou Co. Ltd. Class A		9,400	$	17,736
Vinda International Holdings Ltd.		26,000		61,210
Vipshop Holdings Ltd., ADR *		32,940		277,025
Viva Biotech Holdings *@±		27,000		4,575
Wangsu Science & Technology Co. Ltd., Class A		20,900		13,381
Wanxiang Qianchao Co. Ltd., Class A		42,900		29,765
Wasion Holdings Ltd.		48,000		12,169
Weibo Corp., ADR *		3,388		57,935
Weichai Power Co. Ltd., H Shares		151,000		143,312
Weifu High-Technology Group Co. Ltd., Class A		5,600		13,623
Wellhope Foods Co. Ltd., Class A *		7,700		10,153
West China Cement Ltd.		198,000		20,179
Western Securities Co. Ltd. Class A		22,600		18,580
Wharf Holdings Ltd. (The)		70,000		224,278
Wingtech Technology Co. Ltd., Class A		3,900		26,217
Wolong Electric Group Co. Ltd., Class A		11,600		18,976
Wuchan Zhongda Group Co. Ltd., Class A		29,100		16,907
Wuhu Token Science Co. Ltd., Class A		16,000		13,560
Wushang Group Co. Ltd. Class A		12,600		18,266
Wuxi Taiji Industry Co. Ltd., Class A		14,900		12,040
XCMG Construction Machinery Co. Ltd., Class A *		47,400		29,946
Xiabuxiabu Catering Management China Holdings Co. Ltd. ±@		28,000		18,477
Xiamen C & D, Inc., Class A		17,600		34,375
Xiamen Comfort Science & Technology Group Co. Ltd., Class A		8,700		9,386
Xiamen Intretech, Inc. Class A		7,479		19,754
Xiamen ITG Group Corp. Ltd., Class A		17,300		15,565
Xiamen Tungsten Co. Ltd., Class A		7,300		23,296
Xiamen Xiangyu Co. Ltd., Class A		22,200		26,110
Xiaomi Corp., Class A *±		627,800		716,604
Xinfengming Group Co. Ltd., Class A		4,000		5,077
Xingda International Holdings Ltd.		95,633		18,884
Xinhu Zhongbao Co. Ltd., Class A *		44,900		15,513
Xinhua Winshare Publishing and Media Co. Ltd., Class H		36,000		22,885
Xinjiang Goldwind Science & Technology Co. Ltd., H Shares		47,800		55,475
Xinjiang Tianshan Cement Co. Ltd., Class A		4,500		5,642
Xinjiang Zhongtai Chemical Co. Ltd., Class A		14,500		13,639
Xinte Energy Co. Ltd., Class H		18,000		38,249
Xinxing Ductile Iron Pipes Co. Ltd., Class A		18,100		9,138
Xinyangfeng Agricultural Technology Co. Ltd., Class A		6,900		12,630
Xinyu Iron & Steel Co. Ltd., Class A		27,300		14,822
Xuji Electric Co. Ltd., Class A		9,300		21,836
YaGuang Technology Group Co. Ltd., Class A *		8,000		5,991
Yankuang Energy Group Co. Ltd., Class A @		38,000		138,210
Yantai Changyu Pioneer Wine Co. Ltd., Class A		3,700		15,497
Yantai Jereh Oilfield Services Group Co. Ltd., Class A		7,300		33,591


	SHARES		VALUE†
YiChang HEC ChangJiang Pharmaceutical Co. Ltd., H Shares *±		25,600	$	13,697
Yifan Pharmaceutical Co. Ltd., Class A *		7,200		10,620
Yintai Gold Co. Ltd., Class A		31,600		57,307
Yixintang Pharmaceutical Group Co. Ltd., Class A		2,800		9,548
Youngor Group Co. Ltd., Class A		11,500		10,249
Youzu Interactive Co. Ltd., Class A *		8,100		8,544
YTO Express Group Co. Ltd. Class A		21,200		62,035
Yunda Holding Co. Ltd., Class A		16,500		36,415
Yunnan Aluminium Co. Ltd., Class A		18,200		23,638
Yunnan Baiyao Group Co. Ltd., Class A		5,460		40,308
Yunnan Copper Co. Ltd., Class A		8,100		11,228
Yunnan Tin Co. Ltd., Class A		14,600		25,366
Yutong Bus Co. Ltd., Class A		13,300		13,148
Zhaojin Mining Industry Co. Ltd., Class H *		120,000		81,940
Zhefu Holding Group Co. Ltd., Class A		16,400		9,043
Zhejiang Century Huatong Group Co. Ltd., Class A *		39,280		20,661
Zhejiang China Commodities City Group Co. Ltd. Class A		30,700		19,309
Zhejiang Chint Electrics Co. Ltd., Class A		13,100		49,472
Zhejiang Crystal-Optech Co. Ltd., Class A		12,400		18,658
Zhejiang Dahua Technology Co. Ltd., Class A		19,700		35,698
Zhejiang Hailiang Co. Ltd., Class A		19,700		32,198
Zhejiang Hisoar Pharmaceutical Co. Ltd., Class A		12,700		12,161
Zhejiang Jiahua Energy Chemical Industry Co. Ltd. Class A		9,000		11,588
Zhejiang JIULI Hi-tech Metals Co. Ltd. Class A		4,400		10,052
Zhejiang Juhua Co. Ltd., Class A		7,900		15,474
Zhejiang Longsheng Group Co. Ltd., Class A		19,300		24,522
Zhejiang Medicine Co. Ltd., Class A		10,400		19,873
Zhejiang Narada Power Source Co. Ltd., Class A *		9,800		27,405
Zhejiang NHU Co. Ltd., Class A		12,240		38,302
Zhejiang Orient Financial Holdings Group Co. Ltd., Class A		17,420		8,844
Zhejiang Semir Garment Co. Ltd., Class A		21,700		14,627
Zhejiang Wanfeng Auto Wheel Co. Ltd., Class A *		24,800		18,571
Zhejiang Wanliyang Co. Ltd., Class A *		11,400		12,748
Zhejiang Xinan Chemical Industrial Group Co. Ltd., Class A		14,980		33,419
Zhejiang Yasha Decoration Co. Ltd., Class A		16,000		9,883
Zhengzhou Coal Mining Machinery Group Co. Ltd., H Shares		21,400		21,401
Zhongji Innolight Co. Ltd., Class A		3,700		13,608
Zhongjin Gold Corp. Ltd., Class A		32,000		33,348
Zhongshan Broad Ocean Motor Co. Ltd., Class A		22,200		16,561
Zhongtian Financial Group Co. Ltd., Class A *		38,300		7,616
Zhou Hei Ya International Holdings Co. Ltd. *±		57,000		27,811
Zhuhai Huafa Properties Co. Ltd., Class A		11,600		16,113

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*China (Continued)*
Zhuzhou CRRC Times Electric Co. Ltd., Class H		29,300	$	123,177
Zhuzhou Kibing Group Co. Ltd., Class A		10,500		14,289
Zibo Qixiang Tengda Chemical Co. Ltd., Class A *		22,120		21,399
Zoomlion Heavy Industry Science & Technology Co. Ltd., H Shares		85,800		29,840
ZTE Corp., H Shares		55,800		100,089

				50,065,378

*Colombia — 0.1%*
Bancolombia SA		2,584		17,432
Bancolombia SA, ADR		1,030		25,101
Cementos Argos SA		31,937		23,416
CEMEX Latam Holdings SA *		13,000		8,460
Corp. Financiera Colombiana SA *		2,308		8,361
Grupo Argos SA		29,921		63,671
Grupo de Inversiones Suramericana SA		1,288		10,477

				156,918

*Czech Republic — 0.1%*
CEZ, AS		1,287		44,102
Komercni Banka, A/S		5,768		144,564
Moneta Money Bank AS ±		11,381		32,016

				220,682

*Greece — 0.3%*
Alpha Services & Holdings SA *		127,150		100,438
Autohellas Tourist and Trading SA		1,184		11,407
Bank of Greece		859		13,217
Eurobank Ergasias Services & Holdings SA Class A *		150,057		125,886
Fourlis Holdings SA		3,046		7,463
Hellenic Petroleum Holdings SA		5,260		32,271
LAMDA Development SA *		4,332		23,287
Motor Oil Hellas Corinth Refineries SA		2,176		34,420
National Bank of Greece SA *		44,182		131,028
Piraeus Financial Holdings SA *		10,411		10,581

				489,998

*Hong Kong — 0.2%*
Alibaba Pictures Group Ltd. *		180,000		9,287
BOC Aviation Ltd. ±		7,200		51,136
Jinmao Property Services Co. Ltd. *@		6,646		3,192
Untrade CTEG @§		98,000		—
Untrade.Lumena New Materials §		5,599		—
Vnet Group, Inc., ADR *		9,629		52,960
Yuexiu Property Co. Ltd.		135,006		163,046

				279,621

*Hungary — 0.2%*
MOL Hungarian Oil & Gas PLC		44,543		248,274
Opus Global Nyrt *		14,974		4,489
OTP Bank Nyrt		1,858		34,038

				286,801

*India — 18.7%*
ACC Ltd.		6,555		194,979
Adani Enterprises Ltd.		1,614		68,249
Adani Transmission Ltd. *		664		26,878
Aditya Birla Capital Ltd. *		44,000		60,415
Advanced Enzyme Technologies Ltd.		3,035		10,060
Alembic Pharmaceuticals Ltd.		5,197		38,522
Allcargo Logistics Ltd.		4,985		25,222
Amara Raja Batteries Ltd.		6,020		36,408
Ambuja Cements Ltd.		46,643		295,736


	SHARES		VALUE†
Apar Industries Ltd.		1,462	$	23,273
Apollo Tyres Ltd.		31,532		108,316
Arvind Ltd. *		13,452		15,775
Aster DM Healthcare Ltd. *±		9,764		30,126
Aurobindo Pharma Ltd.		25,561		160,182
Axis Bank Ltd.		133,355		1,206,488
Axis Bank Ltd., GDR		12,180		548,100
Bajaj Holdings & Investment Ltd.		3,057		244,293
Balrampur Chini Mills Ltd.		14,783		63,329
Bandhan Bank Ltd. ±*		42,966		140,568
Bank of Baroda		84,475		137,847
Bank of India		26,524		15,715
Bharat Electronics Ltd.		265,086		329,764
Bharat Heavy Electricals Ltd. *		96,730		71,342
Birla Corp. Ltd.		3,237		38,000
Birlasoft Ltd.		1,959		6,814
Bombay Burmah Trading Co.		684		7,715
Camlin Fine Sciences Ltd. *		4,352		6,310
Can Fin Homes Ltd.		2,104		12,463
Canara Bank		32,882		92,804
Ceat Ltd.		3,536		68,328
Central Bank of India Ltd. *		45,284		11,161
Century Textiles & Industries Ltd.		3,788		37,805
Chambal Fertilizers and Chemicals Ltd.		14,403		56,566
Cholamandalam Financial Holdings Ltd.		8,070		64,480
Cipla Ltd.		32,099		437,976
City Union Bank Ltd.		30,829		65,826
Cochin Shipyard Ltd. ±		3,997		21,596
Container Corp. Of India Ltd.		7,508		65,877
Cosmo First Ltd.		1,243		13,369
CreditAccess Grameen Ltd. *		1,344		16,361
CSB Bank Ltd. *		3,753		10,221
Cyient Ltd.		6,750		65,881
Dalmia Bharat Ltd.		5,315		104,534
DCB Bank Ltd.		19,962		25,213
DCM Shriram Ltd.		2,904		36,111
Deepak Fertilisers & Petrochemicals Corp. Ltd.		4,535		48,909
Dhampur Bio Organics Ltd. *		2,664		4,928
Dhampur Sugar Mills Ltd.		2,664		7,041
Dilip Buildcon Ltd. ±		2,860		7,731
DLF Ltd.		37,826		165,995
eClerx Services Ltd.		1,015		17,769
eClerx Services Ltd. <>		508		8,888
Edelweiss Financial Services Ltd.		37,825		28,595
EID Parry India Ltd.		7,288		53,479
Electrosteel Castings Ltd.		23,821		10,688
Engineers India Ltd.		18,093		14,256
EPL Ltd.		5,342		11,518
Equitas Small Finance Bank Ltd. *±		16,074		9,790
Exide Industries Ltd.		26,178		50,424
FDC Ltd. *		3,013		9,680
Federal Bank Ltd.		161,831		237,421
Finolex Cables Ltd.		3,726		21,527
Finolex Industries Ltd.		15,431		25,949
Firstsource Solutions Ltd.		20,730		26,629
Fortis Healthcare Ltd. *		26,126		85,025
GAIL India Ltd.		260,433		278,997
Gateway Distriparks Ltd.		25,136		20,872
General Insurance Corp. of India ±		7,543		11,433
GHCL Ltd.		5,527		44,025
Glenmark Pharmaceuticals Ltd.		12,966		62,088
Godawari Power and Ispat Ltd.		2,480		8,493
Godfrey Phillips India Ltd.		794		11,214
Godrej Industries Ltd. *		1,769		9,545

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*India (Continued)*
Granules India Ltd.		17,305	$	73,665
Grasim Industries Ltd.		22,682		467,030
Great Eastern Shipping Co. Ltd. (The)		8,516		55,795
Gujarat Alkalies & Chemicals Ltd.		2,551		26,516
Gujarat Ambuja Exports Ltd.		4,383		15,107
Gujarat Fluorochemicals Ltd.		3,596		174,559
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.		8,633		68,060
Gujarat Pipavav Port Ltd.		19,498		20,864
Gujarat State Fertilizers & Chemicals Ltd.		11,602		18,668
Gujarat State Petronet Ltd.		23,082		65,670
HDFC Bank Ltd.		3,566		61,851
Hero MotoCorp Ltd.		9,748		305,580
HIL Ltd.		469		16,275
Himadri Speciality Chemical Ltd.		10,592		12,955
Hindalco Industries Ltd.		170,691		822,284
Hinduja Global Solutions Ltd.		1,226		19,109
Hindustan Aeronautics Ltd.		2,011		58,215
Housing Development Finance Corp. Ltd.		60,093		1,690,556
ICICI Bank Ltd.		5,036		53,659
ICICI Bank Ltd., ADR		89,109		1,868,616
IDFC First Bank Ltd. *		140,953		86,632
IDFC Ltd.		76,058		62,313
IIFL Finance Ltd.		5,565		24,096
IIFL Securities Ltd.		25,376		20,681
IIFL Wealth Management Ltd.		665		15,082
India Cements Ltd. (The)		18,543		61,611
India Glycols Ltd.		934		9,617
Indiabulls Housing Finance Ltd. *		31,451		45,929
Indian Bank		12,211		29,420
Indian Overseas Bank *		76,991		16,515
Indian Railway Finance Corp. Ltd. ±		47,733		12,468
Indus Towers Ltd.		55,203		134,019
IndusInd Bank Ltd.		28,574		417,276
Infibeam Avenues Ltd.		77,058		14,019
Info Edge India Ltd.		2,462		116,909
IRCON International Ltd. ±		18,858		9,133
Jindal Poly Films Ltd.		769		8,521
Jindal Saw Ltd.		14,261		14,419
Jindal Stainless Hisar Ltd. *		10,916		32,875
Jindal Stainless Ltd. *		17,881		27,662
Jindal Steel & Power Ltd.		46,366		243,938
JK Lakshmi Cement Ltd.		4,751		34,141
JK Paper Ltd.		10,798		50,027
JK Tyre & Industries Ltd.		10,161		20,721
JM Financial Ltd.		40,467		37,357
JSW Energy Ltd.		43,852		161,336
JSW Steel Ltd.		89,380		692,890
Jubilant Pharmova Ltd.		9,690		40,177
Kalpataru Power Transmission Ltd.		5,415		27,770
Karnataka Bank Ltd. (The)		41,191		39,722
Karur Vysya Bank Ltd. (The)		36,209		36,164
Kaveri Seed Co. Ltd.		2,043		10,887
KEC International Ltd.		9,194		50,857
KEI Industries Ltd.		1,528		27,141
KNR Constructions Ltd.		3,786		10,676
KPR Mill Ltd.		6,160		40,651
KRBL Ltd.		2,340		10,542
L&T Finance Holdings Ltd.		78,972		72,758


	SHARES		VALUE†
Larsen & Toubro Ltd.		18,683	$	423,949
Larsen & Toubro Ltd., GDR		33,502		763,846
LG Balakrishnan & Bros Ltd.		1,438		13,628
LIC Housing Finance Ltd.		24,147		122,811
LT Foods Ltd.		16,533		23,473
Lupin Ltd.		22,898		191,020
Maharashtra Seamless Ltd.		1,558		14,880
Mahindra & Mahindra Financial Services Ltd.		54,856		124,950
Mahindra & Mahindra Ltd.		65,830		1,026,074
Mahindra & Mahindra Ltd., GDR		4,830		75,348
Mahindra CIE Automotive Ltd.		6,907		23,263
Manappuram Finance Ltd.		34,315		41,127
Meghmani Organics Ltd.		7,232		10,659
MOIL Ltd.		5,661		10,334
Motilal Oswal Financial Services Ltd.		1,768		15,691
Mphasis Ltd.		1,211		31,083
MRF Ltd.		175		175,976
Muthoot Finance Ltd.		4,096		52,457
Natco Pharma Ltd.		1,319		9,826
National Aluminium Co. Ltd.		68,435		60,232
Nava Ltd.		6,116		14,010
NCC Ltd.		30,074		26,562
NESCO Ltd.		965		6,732
NIIT Ltd.		2,427		9,383
Nilkamal Ltd.		322		8,153
NMDC Ltd.		47,585		74,608
NOCIL Ltd.		7,374		22,915
Oberoi Realty Ltd.		9,011		101,246
Orient Cement Ltd.		6,133		9,778
PCBL Ltd.		11,386		18,013
Persistent Systems Ltd.		755		30,125
Petronet LNG Ltd.		67,706		166,453
Phoenix Mills Ltd. (The)		4,600		79,163
Piramal Enterprises Ltd.		6,545		69,649
Piramal Pharma Ltd. *<>		26,180		70,111
PNB Housing Finance Ltd. *±		4,224		20,356
PNC Infratech Ltd.		4,201		13,731
Polyplex Corp. Ltd.		1,545		37,678
Power Finance Corp. Ltd.		97,509		125,435
Prestige Estates Projects Ltd.		14,610		80,735
PTC India Ltd.		17,788		16,793
Punjab National Bank		115,447		51,940
Quess Corp. Ltd. ±		2,433		19,171
Rain Industries Ltd.		17,328		35,039
Rajesh Exports Ltd.		7,411		52,746
Rallis India Ltd.		3,389		8,765
Ramco Cements Ltd. (The)		8,242		76,340
Rashtriya Chemicals & Fertilizers Ltd.		16,695		19,260
Raymond Ltd.		3,276		41,236
RBL Bank Ltd. *±		6,669		9,341
REC Ltd.		124,810		144,216
Redington Ltd.		57,900		99,428
Reliance Industries Ltd.		206,554		6,033,138
Reliance Power Ltd. *		223,846		45,126
RITES Ltd.		2,755		11,020
Shilpa Medicare Ltd.		2,237		10,528
Shipping Corp. of India Ltd.		14,166		19,921
Shriram City Union Finance Ltd.		2,635		56,521
Shriram Transport Finance Co. Ltd.		16,232		237,839
Sobha Ltd.		6,105		48,479

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*India (Continued)*
Star Cement Ltd. *		7,280	$	9,410
State Bank of India		69,305		452,840
State Bank of India, GDR		7,560		492,156
Steel Authority of India Ltd.		89,762		84,906
Strides Pharma Science Ltd.		5,470		22,189
Sun Pharmaceutical Industries Ltd.		38,050		443,824
Sun TV Network Ltd.		5,489		34,445
Sundaram Finance Ltd.		1,330		36,996
Sundaram-Clayton Ltd.		221		12,496
Sunteck Realty Ltd.		5,951		30,607
Surya Roshni Ltd.		773		4,360
Tata Chemicals Ltd.		13,719		185,697
Tata Coffee Ltd.		1,997		5,521
Tata Consumer Products Ltd.		32,805		324,174
Tata Motors Ltd. *		156,759		780,989
Tata Motors Ltd., ADR *@		2,406		58,370
Tata Steel Ltd.		430,140		526,629
Tata Steel Ltd., GDR		6,923		85,845
Techno Electric & Engineering Co. Ltd.		2,836		9,271
Thirumalai Chemicals Ltd.		4,154		10,953
Tube Investments of India Ltd.		2,032		67,716
TV18 Broadcast Ltd. *		55,772		25,915
Uflex Ltd.		3,166		28,369
Union Bank of India Ltd.		36,541		20,101
UPL Ltd.		40,601		335,982
Usha Martin Ltd.		14,837		22,214
VA Tech Wabag Ltd. *		2,558		8,031
Vardhman Textiles Ltd.		8,165		33,799
Varroc Engineering Ltd. *±		3,632		14,733
Vedanta Ltd.		58,464		194,470
Venky’s India Ltd.		673		16,289
Voltamp Transformers Ltd.		408		13,117
Welspun Corp. Ltd.		11,246		36,634
Welspun India Ltd.		31,063		28,160
West Coast Paper Mills Ltd.		3,247		19,877
Wipro Ltd.		42,908		208,181
Wockhardt Ltd. *		5,344		15,963
Yes Bank Ltd. *		193,770		37,396
Zee Entertainment Enterprises Ltd.		70,032		223,049
Zensar Technologies Ltd.		5,610		14,654
Zydus Lifesciences Ltd.		13,699		65,193
Zydus Wellness Ltd.		1,266		25,259

				31,370,983

*Indonesia — 2.5%*
Adaro Energy Indonesia Tbk PT		1,844,400		479,647
Aneka Tambang Tbk		600,600		76,517
Astra Agro Lestari Tbk PT		61,744		33,452
Astra International Tbk PT		1,370,000		596,043
Astra Otoparts Tbk PT		19,600		1,603
Bank Mandiri Persero Tbk PT		710,600		439,823
Bank Maybank Indonesia Tbk PT		568,800		9,562
Bank Negara Indonesia Persero Tbk PT		499,366		294,323
Bank Pan Indonesia Tbk PT		626,700		87,662
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		173,300		15,421
Bank Pembangunan Daerah Jawa Timur Tbk PT		403,000		18,790
Bank Tabungan Negara Persero Tbk PT		405,590		39,554
BISI International Tbk PT		94,000		7,655
Buana Lintas Lautan Tbk PT *		1,041,300		10,736
Bukit Asam Tbk PT		339,600		92,998
Bumi Serpong Damai Tbk PT *		435,700		25,895


	SHARES		VALUE†
Ciputra Development Tbk PT		924,577	$	57,682
Delta Dunia Makmur Tbk PT *		589,400		14,554
Erajaya Swasembada Tbk PT		1,042,500		28,343
Gudang Garam Tbk PT		38,200		57,510
Hanson International Tbk PT *§		5,335,700		—
Indah Kiat Pulp & Paper Tbk PT		294,700		175,146
Indika Energy Tbk PT		180,500		35,561
Indo Tambangraya Megah Tbk PT		52,800		143,638
Indocement Tunggal Prakarsa Tbk PT		78,800		49,161
Indofood Sukses Makmur Tbk PT		407,500		161,234
Japfa Comfeed Indonesia Tbk PT		567,600		56,471
Lippo Karawaci Tbk PT *		72		—
Medco Energi Internasional Tbk PT		1,248,052		74,994
Media Nusantara Citra Tbk PT		629,000		34,285
MNC Vision Networks Tbk PT *		1,301,600		7,266
Pabrik Kertas Tjiwi Kimia Tbk PT		133,200		64,512
Panin Financial Tbk PT		1,598,900		51,450
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		296,500		21,029
PP Persero Tbk PT *		442,900		25,741
Ramayana Lestari Sentosa Tbk PT		70,400		2,566
Samudera Indonesia Tbk PT		134,100		19,726
Sawit Sumbermas Sarana Tbk PT		240,200		20,427
Semen Indonesia Persero Tbk PT		243,400		119,482
Sri Rejeki Isman Tbk PT *§		996,900		—
Summarecon Agung Tbk PT		932,100		36,421
Surya Semesta Internusa Tbk PT *		393,100		9,190
Timah Tbk PT		281,100		24,644
Tunas Baru Lampung Tbk PT		317,700		15,439
United Tractors Tbk PT		182,800		394,051
Vale Indonesia Tbk PT *		184,400		77,502
Waskita Karya Persero Tbk PT *		861,673		28,576
Wijaya Karya Persero Tbk PT *		459,200		27,894
XL Axiata Tbk PT		426,800		68,949

				4,133,125

*Korea — 11.3%*
AMOREPACIFIC Group		612		11,485
Asia Paper Manufacturing Co. Ltd.		567		12,959
Binggrae Co. Ltd.		417		11,498
BNK Financial Group, Inc.		20,319		85,497
Chongkundang Holdings Corp.		196		6,905
CJ CheilJedang Corp.		860		247,054
CJ Corp.		1,381		67,086
CJ ENM Co. Ltd.		531		28,244
CJ Logistics Corp. *		649		41,008
Com2uSCorp		128		6,916
Cuckoo Homesys Co. Ltd.		408		8,013
Dae Han Flour Mills Co. Ltd.		157		13,991
Daesang Corp.		2,426		36,542
Daewoo Engineering & Construction Co. Ltd. *		18,960		54,599
Daihan Pharmaceutical Co. Ltd.		296		5,338
Daishin Securities Co. Ltd.		3,671		35,281
Daou Technology, Inc.		2,149		25,535
DB Insurance Co. Ltd.		5,076		195,845
DGB Financial Group, Inc.		20,001		97,440
DI Dong Il Corp.		1,469		14,169
DL E&C Co. Ltd.		3,846		92,205
DL Holdings Co. Ltd.		1,534		61,437
DN Automotive Corp.		17		732
Dong-A ST Co. Ltd.		233		8,110
Dongkuk Steel Mill Co. Ltd.		6,894		52,041
Dongwha Pharm Co. Ltd.		736		4,249
Dongwon F&B Co. Ltd.		128		12,883

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Korea (Continued)*
Dongwon Industries Co. Ltd.		143	$	23,239
Doosan Bobcat, Inc.		4,635		92,331
Doosan Co. Ltd.		633		35,882
DoubleUGames Co. Ltd.		504		15,465
E-MART, Inc.		1,350		79,168
Easy Holdings Co. Ltd.		5,023		10,146
Eugene Corp.		5,295		12,176
Eugene Investment & Securities Co. Ltd.		8,694		13,612
Fila Holdings Corp.		2,627		57,472
Green Cross Holdings Corp.		1,234		14,059
GS Engineering & Construction Corp.		5,639		88,879
GS Holdings Corp.		4,562		132,967
GS Retail Co. Ltd.		2,919		52,231
Hana Financial Group, Inc.		22,264		551,659
Handok, Inc.		492		5,090
Handsome Co. Ltd.		1,312		23,568
Hanil Holdings Co. Ltd.		1,021		7,921
Hanjin Transportation Co. Ltd.		1,142		16,283
Hankook Tire & Technology Co. Ltd.		6,064		149,407
Hansol Paper Co. Ltd.		2,232		23,401
Hansol Technics Co. Ltd. *		1,664		5,269
Hanwha Corp.		3,953		67,555
Hanwha General Insurance Co. Ltd. *		3,245		8,936
Hanwha Investment & Securities Co. Ltd.		13,449		22,749
Hanwha Life Insurance Co. Ltd. *		20,246		29,576
Hanwha Solutions Corp. *		4,541		149,811
HD Hyundai Co. Ltd.		3,175		120,058
HDC Holdings Co. Ltd.		2,781		11,507
HDC Hyundai Development Co.-Engineering & Construction		2,554		18,476
HL Holdings Corp.		1,090		24,151
HMM Co. Ltd.		16,527		213,706
HS Industries Co. Ltd.		3,615		10,511
Hy-Lok Corp.		918		13,475
Hyosung Corp.		657		32,145
Hyosung Heavy Industries Corp. *		306		12,726
Hyosung TNC Corp.		190		34,396
Hyundai Construction Equipment Co. Ltd.		1,558		34,847
Hyundai Department Store Co. Ltd.		1,286		48,898
Hyundai Doosan Infracore Co. Ltd. *		10,482		32,603
Hyundai Engineering & Construction Co. Ltd.		4,831		126,625
Hyundai Futurenet Co. Ltd.		3,997		6,803
Hyundai Glovis Co. Ltd.		587		66,672
Hyundai Greenfood Co. Ltd.		5,396		24,176
Hyundai Home Shopping Network Corp.		716		23,847
Hyundai Livart Furniture Co. Ltd.		1,625		10,461
Hyundai Marine & Fire Insurance Co. Ltd.		5,895		120,727
Hyundai Mobis Co. Ltd.		3,743		499,695
Hyundai Motor Co.		7,019		865,907
Hyundai Motor Securities Co. Ltd.		1,658		11,264
Hyundai Steel Co.		5,647		110,911
Hyundai Wia Corp.		941		39,529
Industrial Bank of Korea		21,945		146,024
Innocean Worldwide, Inc.		407		11,806
INTOPS Co. Ltd.		1,491		31,733
IS Dongseo Co. Ltd.		1,027		21,966
JB Financial Group Co. Ltd.		11,834		57,569
KB Financial Group, Inc., ADR @		28,731		865,952


	SHARES		VALUE†
KC Co. Ltd.		887	$	8,773
KC Tech Co. Ltd.		463		4,417
KCC Corp.		293		47,410
KCC Glass Corp.		444		12,398
Kia Corp.		19,207		965,250
KISWIRE Ltd.		1,072		12,775
KIWOOM Securities Co. Ltd.		1,398		73,970
Kolmar Korea Holdings Co. Ltd.		830		8,644
Kolon Industries, Inc.		1,930		57,062
Korea Asset In Trust Co. Ltd.		5,452		11,756
Korea Electric Terminal Co. Ltd.		682		29,698
Korea Investment Holdings Co. Ltd.		3,650		121,182
Korea Line Corp. *		16,631		22,609
Korea Petrochemical Ind Co. Ltd.		384		27,779
Korea Real Estate Investment & Trust Co. Ltd.		13,613		13,035
Korea Shipbuilding & Offshore Engineering Co. Ltd. *		2,470		125,857
Korean Reinsurance Co.		8,995		49,354
KT Skylife Co. Ltd.		3,507		19,708
KT&G Corp.		3,159		191,214
Kumho Petrochemical Co. Ltd.		1,118		90,256
Kumho Tire Co., Inc. *		7,034		16,396
Kwang Dong Pharmaceutical Co. Ltd.		5,019		20,768
Kyobo Securities Co. Ltd.		2,156		8,544
LF Corp.		1,623		16,562
LG Corp.		5,347		276,563
LG Display Co. Ltd.		12,166		102,042
LG Display Co. Ltd., ADR @		28,889		117,867
LG Electronics, Inc.		10,656		585,421
LG HelloVision Co. Ltd.		4,225		12,373
LG Uplus Corp.		15,900		119,469
Lotte Chemical Corp.		1,056		106,286
Lotte Confectionery Co. Ltd.		167		16,167
Lotte Corp.		1,582		42,350
LOTTE Fine Chemical Co. Ltd.		1,517		59,696
LOTTE Himart Co. Ltd.		1,461		13,224
Lotte Shopping Co. Ltd.		641		38,755
LS Corp.		1,543		61,151
LS Electric Co. Ltd.		596		19,454
LX Hausys Ltd.		666		15,176
LX Holdings Corp. *		2,593		14,952
LX International Corp.		3,459		94,048
Maeil Dairies Co. Ltd.		341		12,275
Meritz Financial Group, Inc.		748		10,901
Meritz Securities Co. Ltd.		31,284		80,358
Mirae Asset Securities Co. Ltd.		28,671		119,838
MK Electron Co. Ltd.		1,843		12,044
Namyang Dairy Products Co. Ltd.		41		10,961
Netmarble Corp. ±		1,028		36,861
Nexen Corp.		1,612		4,462
Nexen Tire Corp.		5,151		25,886
NH Investment & Securities Co. Ltd.		10,116		63,565
NHN Corp. *		2,376		35,706
NICE Holdings Co. Ltd.		708		6,112
Nong Shim Holdings Co. Ltd.		185		8,095
NongShim Co. Ltd.		255		53,114
OCI Co. Ltd.		1,446		91,973
Orion Holdings Corp.		2,572		26,606
Ottogi Corp.		38		12,244
Pan Ocean Co. Ltd.		22,750		71,556

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Korea (Continued)*
Poongsan Corp.		1,950	$	33,120
POSCO Holdings, Inc.		984		145,121
POSCO Holdings, Inc., ADR		17,853		653,598
Posco International Corp.		4,654		67,987
S-MAC Co. Ltd. *		1,981		3,157
Sajo Industries Co. Ltd.		327		9,257
Samsung C&T Corp.		4,716		341,166
Samsung Card Co. Ltd.		2,083		43,969
Samsung Electronics Co. Ltd.		11,336		420,732
Samsung Electronics Co. Ltd., GDR		1,132		1,043,704
Samsung Fire & Marine Insurance Co. Ltd.		3,009		386,983
Samsung Life Insurance Co. Ltd.		4,444		193,825
Samsung Securities Co. Ltd.		4,339		93,258
Samyang Corp.		427		10,953
Samyang Holdings Corp.		409		17,839
Sangsangin Co. Ltd.		4,957		25,535
SeAH Steel Holdings Corp.		235		24,720
Sebang Co. Ltd.		1,306		13,693
Sebang Global Battery Co. Ltd.		697		19,438
Seohan Co. Ltd.		5,607		4,056
Seoul Semiconductor Co. Ltd.		1,842		13,068
SGC Energy Co. Ltd.		395		8,490
Shinhan Financial Group Co. Ltd.		23,813		557,584
Shinhan Financial Group Co. Ltd., ADR		5,343		122,889
Shinsegae, Inc.		629		101,558
Shinyoung Securities Co. Ltd.		511		19,466
SK Chemicals Co. Ltd.		256		16,283
SK Discovery Co. Ltd.		1,247		25,974
SK Gas Ltd.		364		25,569
SK Hynix, Inc.		37,160		2,158,381
SK Innovation Co. Ltd. *		3,759		377,030
SK Networks Co. Ltd.		12,838		35,534
SK Securities Co. Ltd.		36,346		16,183
SK, Inc.		2,543		341,271
SL Corp.		1,820		41,089
SNT Motiv Co. Ltd.		1,086		31,881
Songwon Industrial Co. Ltd.		1,925		21,461
Soulbrain Holdings Co. Ltd.		523		7,933
Spigen Korea Co. Ltd.		361		8,327
Suheung Co. Ltd.		475		10,608
Sungwoo Hitech Co. Ltd.		3,959		11,733
Sunjin Co. Ltd.		941		5,420
Taekwang Industrial Co. Ltd.		36		17,689
Taeyoung Engineering & Construction Co. Ltd.		2,546		8,373
Theragen Etex Co. Ltd. *		2,386		6,587
Toptec Co. Ltd. *		1,934		8,138
TY Holdings Co. Ltd. *		2,455		20,677
Unid Co. Ltd.		672		39,220
WiSoL Co. Ltd.		914		4,344
Wonik Holdings Co. Ltd. *		5,077		10,752
Woori Financial Group, Inc.		38,312		286,530
Young Poong Corp.		46		20,513
Youngone Corp.		2,083		64,935
Youngone Holdings Co. Ltd.		787		28,109
Yuanta Securities Korea Co. Ltd.		11,552		19,823

				18,953,581

*Malaysia — 1.9%*
Aeon Co. M Bhd		64,400		19,027
Alliance Bank Malaysia Bhd		118,600		90,286
AMMB Holdings Bhd		177,687		149,446
Bank Islam Malaysia Bhd		31,600		17,514


	SHARES		VALUE†
Batu Kawan Bhd		16,500	$	71,167
Boustead Plantations Bhd		55,720		7,270
Bumi Armada Bhd *		264,700		21,977
Cahya Mata Sarawak Bhd		68,100		12,043
CIMB Group Holdings Bhd		518,078		573,159
DRB-Hicom Bhd		119,100		33,647
Gamuda Bhd		151,397		128,314
Genting Bhd		144,900		139,994
Genting Malaysia Bhd		182,600		109,867
Genting Plantations Bhd		6,500		8,046
HAP Seng Consolidated Bhd		12,400		16,366
Hengyuan Refining Co. Bhd *		9,900		8,775
Hibiscus Petroleum Bhd		140,200		25,397
Hong Leong Financial Group Bhd		27,121		107,969
IJM Corp. Bhd		250,560		90,238
IOI Properties Group Bhd		50,050		10,092
Lotte Chemical Titan Holding Bhd ±		36,723		10,612
Magnum Bhd		86,961		26,630
Mah Sing Group Bhd		205,885		21,756
Malayan Banking Bhd		281,591		521,038
Malaysia Airports Holdings Bhd *		31,300		37,800
Malaysia Building Society Bhd		205,001		25,421
Malaysian Resources Corp. Bhd		136,329		8,820
Matrix Concepts Holdings Bhd		64,200		19,937
Mega First Corp. Bhd		12,800		9,109
MISC Bhd		94,320		137,503
MKH Bhd		36,950		9,164
Oriental Holdings Bhd		25,760		36,054
OSK Holdings Bhd		74,455		13,889
PPB Group Bhd		37,500		130,203
RHB Bank Bhd		187,931		225,339
Sarawak Oil Palms Bhd		30,750		14,523
Sime Darby Bhd		293,600		135,498
Sime Darby Property Bhd		308,000		29,890
SP Setia Bhd Group		143,480		17,792
Sunway Bhd		96,197		32,570
Ta Ann Holdings Bhd		12,260		8,540
United Malacca Bhd		14,600		16,845
UOA Development Bhd		14,900		5,238
WCT Holdings Bhd		115,937		10,251
Yinson Holdings Bhd		96,880		44,920
YTL Corp. Bhd		464,943		58,156

				3,248,092

*Mexico — 2.4%*
ALEATICA SAB de CV *		17,691		14,933
Alfa SAB de CV, Class A		260,453		165,535
Alpek SAB de CV		27,384		35,652
Arca Continental SAB de CV		21,120		152,070
Banco del Bajio SA ±		52,670		133,352
Cemex SAB de CV *		605,139		209,130
Coca-Cola Femsa SAB de CV		24,353		141,914
Consorcio ARA SAB de CV		72,788		11,529
Corp. Actinver SAB de CV		15,700		9,612
El Puerto de Liverpool SAB de CV, Series C1		8,547		37,359
Fomento Economico Mexicano SAB de CV		49,844		312,634
GCC SAB de CV		9,847		58,365
Genomma Lab Internacional SAB de CV, Series B		44,530		30,734
Gentera SAB de CV		67,054		57,667
Grupo Carso SAB de CV, Series A1		24,499		90,225
Grupo Comercial Chedraui SA de CV		28,843		85,443
Grupo Elektra SAB de CV		182		9,254

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Mexico (Continued)*
Grupo Financiero Banorte SAB de CV, Class O		107,375	$	687,825
Grupo Financiero Inbursa SAB de CV, Class O *		113,739		180,553
Grupo Hotelero Santa Fe SAB de CV *		22,600		4,354
Grupo Mexico SAB de CV, Series B		158,955		536,861
Grupo Sanborns SAB de CV *		34,641		40,765
Grupo Televisa SAB		189,926		204,925
Industrias Bachoco SAB de CV, ADR		639		29,416
Industrias Bachoco SAB de CV, Series B		5,634		21,988
Industrias CH SAB de CV, Series B *		23,916		279,007
Industrias Penoles SAB de CV		8,090		78,183
La Comer SAB de CV		31,211		55,310
Megacable Holdings SAB de CV		33,791		68,070
Minera Frisco SAB de CV, Class A1 *		52,254		6,175
Nemak SAB de CV *±		122,975		26,867
Orbia Advance Corp. SAB de CV		64,269		108,181
Organizacion Soriana SAB de CV, Class B		57,868		75,282
Promotora y Operadora de Infraestructura SAB de CV		13,054		88,807
Promotora y Operadora de Infraestructura SAB de CV, Class L		1,600		6,912
Unifin Financiera SAB de CV *		10,214		969

				4,055,858

*Philippines — 0.7%*
ACEN Corp.		37,650		3,596
Alliance Global Group, Inc.		253,300		35,646
Ayala Corp.		12,550		131,869
Ayala Land, Inc.		38,300		14,928
Bank of the Philippine Islands		26,779		40,882
BDO Unibank, Inc.		94,817		180,334
Belle Corp. *		176,000		3,362
CEMEX Holdings Philippines, Inc. *±		324,537		3,654
China Banking Corp.		74,676		32,291
Cosco Capital, Inc.		257,000		17,228
DMCI Holdings, Inc.		385,900		65,101
Filinvest Land, Inc.		1,435,000		18,603
First Philippine Holdings Corp.		26,510		27,810
GT Capital Holdings, Inc.		3,472		24,614
JG Summit Holdings, Inc.		152,183		109,156
LT Group, Inc.		132,300		18,641
Megaworld Corp.		1,004,700		34,961
Metropolitan Bank & Trust Co.		133,237		110,226
Puregold Price Club, Inc.		55,500		26,744
Rizal Commercial Banking Corp.		47,790		17,404
Robinsons Land Corp.		247,455		69,562
Robinsons Retail Holdings, Inc.		43,490		40,578
San Miguel Corp.		41,650		69,588
Security Bank Corp.		37,690		52,075
Top Frontier Investment Holdings, Inc. *		4,630		7,669
Union Bank of the Philippines		42,739		59,780
Vista Land & Lifescapes, Inc.		491,200		13,406

				1,229,708

*Poland — 0.6%*
AB SA		845		6,478
Alior Bank SA *		8,160		38,060
Amica SA		306		4,019
Asseco Poland SA		999		13,936


	SHARES		VALUE†
Bank Polska Kasa Opieki SA		2,385	$	29,206
Ciech SA *		1,973		12,649
Cyfrowy Polsat SA		10,765		34,856
Develia SA		16,364		6,385
Echo Investment SA		1,732		1,066
Enea SA *		23,584		29,379
Grupa Azoty SA *		5,354		36,335
Jastrzebska Spolka Weglowa SA *		4,372		29,406
KGHM Polska Miedz SA		9,027		159,637
Lubelski Wegiel Bogdanka SA		1,684		11,000
mBank SA *		1,049		42,410
PGE Polska Grupa Energetyczna SA *		69,342		87,795
Polski Koncern Naftowy Orlen SA		37,588		405,992
Tauron Polska Energia SA *		66,763		27,301

				975,910

*Russia — 0.0%*
Gazprom PJSC, ADR *§		162,760		—
Lukoil PJSC, ADR §		15,271		—
RusHydro PJSC, ADR *§		61,905		—
VTB Bank PJSC, GDR *§		92,145		—

				—

*Singapore — 0.0%*
China XLX Fertiliser Ltd.		44,000		22,085

*South Africa — 3.4%*
Absa Group Ltd. @		57,554		561,644
Adcock Ingram Holdings Ltd.		3,460		8,707
Aeci Ltd.		11,902		56,735
African Rainbow Minerals Ltd. @		9,314		125,827
AngloGold Ashanti Ltd., ADR		19,645		271,494
Aspen Pharmacare Holdings Ltd.		21,622		160,409
Astral Foods Ltd.		5,245		55,980
Barloworld Ltd.		20,449		104,245
DataTec Ltd.		21,933		53,354
Exxaro Resources Ltd. @		14,928		166,954
Gold Fields Ltd., ADR		38,116		308,358
Grindrod Ltd.		33,342		16,708
Grindrod Shipping Holdings Ltd.		905		20,850
Harmony Gold Mining Co. Ltd.		4,418		10,427
Harmony Gold Mining Co. Ltd., ADR		25,436		61,809
Impala Platinum Holdings Ltd.		54,620		512,010
Investec Ltd.		21,334		84,440
KAP Industrial Holdings Ltd.		156,089		33,632
Lewis Group Ltd.		3,337		8,481
Life Healthcare Group Holdings Ltd.		100,675		95,947
Metair Investments Ltd.		23,331		34,803
Momentum Metropolitan Holdings		100,980		93,672
Motus Holdings Ltd.		14,664		92,983
Mpact Ltd.		15,365		22,920
MTN Group Ltd.		27,438		181,728
Murray & Roberts Holdings Ltd. *		24,454		8,322
Nedbank Group Ltd.		26,249		289,667
Netcare Ltd.		23,365		17,711
Oceana Group Ltd.		7,336		21,586
Old Mutual Ltd.		313,640		169,470
Omnia Holdings Ltd.		16,030		59,869
Pepkor Holdings Ltd. ±		100,821		115,694
Raubex Group Ltd.		16,897		32,935
Reunert Ltd.		14,953		35,772
RFG Holdings Ltd.		12,062		7,337
Royal Bafokeng Platinum Ltd.		7,872		62,428

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*South Africa (Continued)*
Sappi Ltd. *@		46,866	$	113,980
Sasol Ltd. *		28,871		455,779
Sasol Ltd., ADR *		3,934		61,961
Sibanye Stillwater Ltd. @		189,525		439,887
Sibanye Stillwater Ltd., ADR @		668		6,226
Standard Bank Group Ltd. @		66,138		526,181
Super Group Ltd.		41,508		58,042
Telkom SA SOC Ltd. *		28,405		72,817
Wilson Bayly Holmes-Ovcon Ltd.		5,488		26,033

				5,725,814

*Taiwan — 16.9%*
AcBel Polytech, Inc.		11,000		9,753
Acer, Inc.		187,884		129,600
Acter Group Corp. Ltd.		4,000		12,586
Advanced International Multitech Co. Ltd.		8,000		23,131
Altek Corp.		13,000		13,471
Ambassador Hotel (The) *		20,000		19,591
AmTRAN Technology Co. Ltd.		74,301		22,630
Apex International Co. Ltd.		15,000		23,528
Arcadyan Technology Corp.		7,000		21,012
Ardentec Corp.		39,092		51,468
ASE Technology Holding Co. Ltd.		225,000		567,656
Asia Cement Corp.		203,269		252,254
Asia Optical Co., Inc.		5,000		9,071
Asia Pacific Telecom Co. Ltd. *		125,842		25,764
Asia Polymer Corp.		31,602		28,219
Asia Vital Components Co. Ltd.		27,000		94,822
Asustek Computer, Inc.		56,000		412,737
AUO Corp. <>		628,000		290,768
Bank of Kaohsiung Co. Ltd.		46,350		18,541
Basso Industry Corp.		9,000		11,523
Bioteque Corp.		3,000		11,055
Brighton-Best International Taiwan, Inc.		17,000		17,643
Capital Securities Corp.		184,437		61,287
Career Technology MFG. Co. Ltd. *		20,400		18,152
Catcher Technology Co. Ltd. *		49,000		266,229
Cathay Financial Holding Co. Ltd.		546,166		687,245
Cathay Real Estate Development Co. Ltd.		70,000		35,387
Chang Hwa Commercial Bank Ltd.		299,460		161,761
Channel Well Technology Co. Ltd.		16,000		13,985
Cheng Loong Corp.		82,000		68,701
Cheng Shin Rubber Industry Co. Ltd.		121,000		136,058
Cheng Uei Precision Industry Co. Ltd.		44,543		47,561
Chia Hsin Cement Corp.		22,000		11,711
Chin-Poon Industrial Co. Ltd.		36,000		31,976
China Airlines Ltd.		278,111		172,128
China Bills Finance Corp.		89,000		41,348
China Chemical & Pharmaceutical Co. Ltd.		19,000		12,807
China Development Financial Holding Corp.		896,559		338,868
China General Plastics Corp.		28,665		18,509
China Man-Made Fiber Corp.		115,018		29,453
China Metal Products		31,000		28,755
China Motor Corp.		22,478		28,780
China Petrochemical Development Corp.		389,871		116,781
China Steel Corp.		887,800		746,614
Chipbond Technology Corp.		42,000		66,805
ChipMOS Technologies, Inc.		28,897		27,305
Chun Yuan Steel Industry Co. Ltd.		30,000		13,890
Chung Hung Steel Corp.		60,000		39,970
Chung-Hsin Electric & Machinery Manufacturing Corp.		28,000		50,181


	SHARES		VALUE†
Chunghwa Precision Test Tech Co. Ltd.		2,000	$	24,284
Clevo Co.		43,000		42,527
CMC Magnetics Corp.		93,595		21,255
Compal Electronics, Inc.		402,000		274,761
Compeq Manufacturing Co. Ltd.		109,000		155,180
Concord Securities Co. Ltd.		37,000		11,246
Continental Holdings Corp.		42,000		39,885
Coretronic Corp.		40,800		71,193
CTBC Financial Holding Co. Ltd.		1,475,280		922,369
D-Link Corp. *		50,640		23,447
DA CIN Construction Co. Ltd.		9,000		8,873
Da-Li Development Co. Ltd.		12,000		9,978
Darfon Electronics Corp.		17,000		21,097
Darwin Precisions Corp. *		55,000		15,245
Depo Auto Parts Ind Co. Ltd.		12,000		26,760
Dyaco International, Inc.		7,000		8,720
Dynapack International Technology Corp.		7,000		15,566
Eastern Media International Corp. *		24,300		15,193
Edom Technology Co. Ltd.		10,000		8,583
Elite Advanced Laser Corp.		8,000		10,230
Elitegroup Computer Systems Co. Ltd. *		35,877		29,380
Ennoconn Corp.		3,116		18,697
ENNOSTAR, Inc.		36,414		47,540
Entie Commercial Bank Co. Ltd.		68,000		30,199
Eternal Materials Co., Ltd. <>		34,000		32,448
Eva Airways Corp.		265,478		235,802
Everest Textile Co. Ltd. *		56,568		14,022
Evergreen International Storage & Transport Corp.		54,000		53,661
Evergreen Marine Corp. Taiwan Ltd.		34,583		159,032
Everlight Chemical Industrial Corp.		56,000		31,925
Everlight Electronics Co. Ltd.		40,000		43,907
Excelsior Medical Co. Ltd.		11,550		23,283
Far Eastern Department Stores Ltd.		108,220		66,468
Far Eastern International Bank		283,152		98,995
Far Eastern New Century Corp.		266,338		271,380
Farglory Land Development Co. Ltd.		26,721		48,394
Feng Hsin Steel Co. Ltd.		14,000		26,281
First Financial Holding Co. Ltd.		591,369		484,286
First Steamship Co. Ltd. *		103,240		26,794
FLEXium Interconnect, Inc. *		24,000		65,690
Formosa Advanced Technologies Co. Ltd.		20,000		23,308
Formosa Chemicals & Fibre Corp.		176,000		383,055
Formosa Petrochemical Corp.		41,000		107,055
Formosa Plastics Corp.		198,000		540,074
Formosa Taffeta Co. Ltd.		28,000		23,856
Formosan Rubber Group, Inc.		20,080		12,744
Formosan Union Chemical		48,179		34,144
Foxconn Technology Co. Ltd.		58,127		83,943
FSP Technology, Inc.		8,000		9,550
Fubon Financial Holding Co. Ltd.		620,731		975,605
Fulltech Fiber Glass Corp.		32,249		12,494
G Shank Enterprise Co. Ltd.		10,000		14,363
Gamania Digital Entertainment Co. Ltd.		6,000		10,980
Gemtek Technology Corp.		47,000		39,526
General Interface Solution Holding Ltd.		24,000		57,904
Getac Holdings Corp.		21,000		27,946
Giantplus Technology Co. Ltd. *		37,000		12,936
Gigabyte Technology Co., Ltd.		35,000		97,342
Global Brands Manufacture Ltd.		10,000		7,984
Global PMX Co. Ltd.		2,000		10,803
Gloria Material Technology Corp.		50,392		46,902
Gold Circuit Electronics Ltd.		23,500		68,689
Goldsun Building Materials Co. Ltd.		82,973		62,722
Grand Pacific Petrochemical		102,000		56,222

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Taiwan (Continued)*
Great Wall Enterprise Co. Ltd.		31,330	$	43,913
Greatek Electronics, Inc.		16,000		24,820
Hannstar Board Corp.		38,929		35,681
HannsTouch Solution, Inc.		32,279		9,801
Hey Song Corp.		18,750		19,577
Highwealth Construction Corp.		52,697		64,732
Hiroca Holdings Ltd.		8,000		13,682
Ho Tung Chemical Corp.		108,688		30,228
Holy Stone Enterprise Co., Ltd.		10,000		27,371
Hon Hai Precision Industry Co. Ltd.		703,068		2,258,746
Hong Pu Real Estate Development Co. Ltd. *		20,000		14,174
Hong TAI Electric Industrial		13,000		6,060
Hsin Kuang Steel Co., Ltd.		7,000		7,496
HTC Corp. *		9,000		15,534
Hu Lane Associate, Inc.		5,000		26,221
HUA ENG Wire & Cable Co. Ltd.		29,000		11,509
Hua Nan Financial Holdings Co. Ltd.		491,337		344,334
Hung Ching Development & Construction Co. Ltd.		20,000		12,819
Hung Sheng Construction Ltd.		50,688		39,354
IBF Financial Holdings Co. Ltd.		289,630		105,365
IEI Integration Corp.		8,000		14,060
Innolux Corp. <>		657,757		216,497
International CSRC Investment Holdings Co.		58,604		35,810
Inventec Corp.		214,282		154,558
ITEQ Corp.		8,000		14,741
Kenda Rubber Industrial Co. Ltd.		22,000		22,139
Kindom Development Co. Ltd.		46,200		36,816
King Slide Works Co. Ltd.		2,000		29,796
King Yuan Electronics Co. Ltd.		127,100		123,301
King’s Town Bank Co. Ltd.		90,000		95,531
Kinpo Electronics		138,000		58,027
Kinsus Interconnect Technology Corp.		28,000		82,018
KS Terminals, Inc.		14,000		31,440
Kuo Yang Construction Co. Ltd.		14,000		7,937
L&K Engineering Co. Ltd.		16,000		14,993
Largan Precision Co. Ltd.		7,000		369,303
Lealea Enterprise Co. Ltd.		80,000		27,087
Lelon Electronics Corp.		10,000		15,355
Lien Hwa Industrial Holdings Corp.		46,702		74,578
Lingsen Precision Industries Ltd.		41,000		16,659
Lite-On Technology Corp.		194,874		391,602
Longchen Paper & Packaging Co. Ltd.		89,648		41,366
Lung Yen Life Service Corp.		7,000		8,411
Macronix International Co. Ltd.		119,171		116,923
MediaTek, Inc.		2,000		34,710
Mega Financial Holding Co. Ltd.		513,371		503,685
Mercuries & Associates Holding Ltd.		42,767		19,532
Mercuries Life Insurance Co. Ltd. *		169,799		33,586
Micro-Star International Co., Ltd.		31,000		104,964
Mirle Automation Corp.		6,000		7,106
Mitac Holdings Corp.		27,637		23,503
MOSA Industrial Corp.		8,000		6,388
MPI Corp.		6,000		15,629
Namchow Holdings Co. Ltd.		7,000		9,833
Nan Ya Plastics Corp.		346,000		729,075
Nanya Technology Corp.		117,000		180,388


	SHARES		VALUE†
O-Bank Co. Ltd.		91,943	$	23,949
Orient Semiconductor Electronics Ltd.		42,485		21,812
Oriental Union Chemical Corp.		16,000		8,744
Pan Jit International, Inc.		8,600		15,440
Pan-International Industrial Corp.		34,380		35,518
PChome Online, Inc.		4,000		6,104
Pegatron Corp.		187,249		345,021
Phison Electronics Corp.		6,000		50,175
Pixart Imaging, Inc.		8,000		21,544
POU Chen Corp.		169,133		151,825
Powertech Technology, Inc.		49,000		118,993
President Securities Corp.		86,636		40,386
Primax Electronics Ltd.		25,000		50,238
Prince Housing & Development Corp.		77,970		27,382
Prosperity Dielectrics Co. Ltd.		11,000		12,473
Qisda Corp.		158,400		135,205
Quanta Computer, Inc.		139,000		337,113
Quanta Storage, Inc.		13,000		15,478
Radiant Opto-Electronics Corp.		27,000		85,467
Radium Life Tech Co. Ltd.		101,477		30,748
Rechi Precision Co. Ltd.		16,000		8,769
Rexon Industrial Corp. Ltd.		13,000		12,202
Rich Development Co. Ltd.		19,978		5,311
Ritek Corp. *		47,211		11,227
Ruentex Development Co. Ltd.		40,192		65,069
Ruentex Industries Ltd.		37,891		60,985
Sampo Corp.		31,600		26,027
San Fang Chemical Industry Co. Ltd.		13,000		8,640
Sanyang Motor Co. Ltd.		41,573		50,151
Sesoda Corp.		17,193		22,528
Shanghai Commercial & Savings Bank Ltd. (The)		63,000		97,628
ShenMao Technology, Inc.		10,000		12,898
Shih Wei Navigation Co. Ltd.		16,000		12,322
Shihlin Electric & Engineering Corp.		26,000		47,579
Shin Kong Financial Holding Co. Ltd.		715,108		184,920
Shin Zu Shing Co. Ltd.		16,660		47,279
Shinkong Insurance Co. Ltd.		22,000		33,781
Shinkong Synthetic Fibers Corp.		108,151		56,717
Sigurd Microelectronics Corp.		42,694		57,151
Simplo Technology Co. Ltd.		9,000		74,837
Sincere Navigation Corp.		27,810		15,942
Sinon Corp.		56,000		68,260
SinoPac Financial Holdings Co. Ltd.		747,494		407,309
Sirtec International Co. Ltd.		12,000		8,315
Soft-World International Corp.		4,000		8,870
St Shine Optical Co. Ltd.		5,000		35,592
Sunonwealth Electric Machine Industry Co. Ltd.		12,000		13,626
Supreme Electronics Co. Ltd.		43,121		46,246
Syncmold Enterprise Corp.		5,000		9,969
Synnex Technology International Corp.		111,300		185,097
Systex Corp.		5,000		10,945
TA Chen Stainless Pipe Co., Ltd.		87,870		104,617
Ta Ya Electric Wire & Cable		54,401		31,185
TA-I Technology Co. Ltd.		6,000		7,569
TAI-TECH Advanced Electronics Co. Ltd.		3,000		7,380
Taichung Commercial Bank Co. Ltd.		380,165		157,459
TaiDoc Technology Corp. *		7,000		36,159
Taiflex Scientific Co. Ltd.		25,740		32,064
Tainan Spinning Co. Ltd.		115,427		60,169

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Taiwan (Continued)*
Taishin Financial Holding Co. Ltd.		862,708	$	372,267
Taiwan Business Bank		369,300		146,561
Taiwan Cement Corp.		380,971		405,582
Taiwan Cooperative Financial Holding Co. Ltd.		528,706		437,133
Taiwan Fertilizer Co. Ltd.		48,000		83,303
Taiwan FU Hsing Industrial Co. Ltd.		21,000		27,417
Taiwan Glass Industry Corp.		109,321		60,085
Taiwan Hon Chuan Enterprise Co. Ltd.		30,925		81,625
Taiwan Navigation Co. Ltd.		18,000		14,004
Taiwan Paiho Ltd.		12,000		22,300
Taiwan PCB Techvest Co. Ltd.		28,000		29,897
Taiwan Sakura Corp.		6,000		11,792
Taiwan Shin Kong Security Co. Ltd.		10,100		12,407
Taiwan Styrene Monomer		23,000		9,526
Taiwan Surface Mounting Technology Corp.		21,518		56,254
Taiwan Union Technology Corp.		19,000		26,810
Tatung Co. Ltd. *		115,000		115,185
TCI Co. Ltd.		5,000		19,607
Teco Electric & Machinery Co. Ltd.		132,000		117,037
Test Research, Inc.		11,000		21,550
Thinking Electronic Industrial Co. Ltd.		4,000		14,678
Thye Ming Industrial Co. Ltd.		8,000		8,693
Ton Yi Industrial Corp.		82,000		46,619
Tong Hsing Electronic Industries Ltd.		8,000		41,828
Tong Yang Industry Co. Ltd.		41,921		63,775
Topco Scientific Co. Ltd.		4,000		19,465
Topkey Corp.		3,000		14,788
TPK Holding Co. Ltd.		34,000		33,787
Transcend Information, Inc.		10,000		20,316
Tripod Technology Corp.		25,000		73,546
TSRC Corp.		26,000		21,292
Tung Ho Steel Enterprise Corp.		58,290		90,788
TXC Corp.		16,000		36,234
TYC Brother Industrial Co. Ltd.		21,000		17,330
U-Ming Marine Transport Corp.		27,000		31,040
Union Bank of Taiwan		201,404		94,520
Unitech Printed Circuit Board Corp. *		71,667		44,130
United Microelectronics Corp. *		614,513		691,954
United Microelectronics Corp., ADR @		38,376		213,754
Universal Cement Corp.		46,836		30,241
Unizyx Holding Corp. <>		35,000		26,678
UPC Technology Corp.		80,916		31,220
USI Corp.		77,130		49,923
Wah Lee Industrial Corp.		21,420		56,335
Walsin Lihwa Corp.		156,211		199,267
Walsin Technology Corp.		28,000		65,703
Walton Advanced Engineering, Inc.		34,000		12,529
Wan Hai Lines Ltd.		19,000		39,976
Wei Chuan Foods Corp.		14,000		8,643
Weikeng Industrial Co. Ltd.		32,945		26,461
Winbond Electronics Corp.		331,893		206,460
Wisdom Marine Lines Co. Ltd.		27,019		43,998
Wistron Corp.		287,431		240,363
WPG Holdings Ltd.		168,400		246,376
WT Microelectronics Co. Ltd.		31,265		57,904
Yageo Corp.		8,879		75,229
Yang Ming Marine Transport Corp.		118,000		228,574
YC INOX Co. Ltd.		27,763		23,873
Yem Chio Co. Ltd.		22,666		9,959
Yeong Guan Energy Technology Group Co. Ltd.		7,000		13,780


	SHARES		VALUE†
YFY, Inc.		114,385	$	85,386
Yieh Phui Enterprise Co. Ltd.		55,151		23,364
Youngtek Electronics Corp.		12,000		21,846
Yuanta Financial Holding Co. Ltd.		766,327		471,879
Yuen Foong Yu Consumer Products Co. Ltd.		15,000		16,937
Yulon Motor Co. Ltd.		62,371		80,643
YungShin Global Holding Corp.		7,000		8,753
Zeng Hsing Industrial Co. Ltd.		2,000		7,874
Zenitron Corp.		18,000		14,797
Zhen Ding Technology Holding Ltd.		62,000		206,999
Zig Sheng Industrial Co. Ltd.		28,000		8,255
Zinwell Corp. *		24,000		13,493

				28,351,563

*Tanzania, United Republic Of — 0.0%*
AngloGold Ashanti Ltd.		4,067		56,100

*Thailand — 2.4%*
AP Thailand PCL		242,500		61,075
Bangchak Corp. PCL		112,900		88,297
Bangkok Bank PCL		48,500		175,510
Bangkok Bank PCL, NVDR		13,300		48,130
Bangkok Insurance PCL		2,100		15,644
Bangkok Land PCL		1,039,700		27,012
Banpu PCL		429,750		140,136
Berli Jucker PCL		64,800		56,262
Cal-Comp Electronics Thailand PCL		286,596		16,412
Charoen Pokphand Foods PCL		322,300		213,614
GFPT PCL		33,300		12,978
Indorama Ventures PCL		93,600		96,776
IRPC PCL		633,100		52,367
Italian-Thai Development PCL *		563,700		27,647
Kasikornbank PCL, NVDR		58,000		221,421
Khon Kaen Sugar Industry PCL		135,600		14,092
Kiatnakin Phatra Bank PCL		21,900		39,916
Krung Thai Bank PCL		204,575		90,573
Lanna Resources PCL		2,500		1,306
LH Financial Group PCL		302,400		9,380
LPN Development PCL		151,700		17,535
Polyplex Thailand PCL		27,000		17,466
Power Solution Technologies PCL, Class F *		224,400		10,827
Precious Shipping PCL		41,900		15,551
Property Perfect PCL		1,000,115		10,341
Pruksa Holding PCL		88,800		28,250
PTT Exploration & Production PCL		101,100		430,184
PTT Global Chemical PCL		116,228		127,875
PTT PCL		883,900		808,445
Quality Houses PCL		338,800		19,221
Regional Container Lines PCL		17,100		13,147
Sansiri PCL		1,106,700		33,741
SC Asset Corp. PCL		188,600		18,500
SCB X PCL		48,100		132,619
Siam Cement PCL (The)		30,900		267,057
Siam City Cement PCL		4,100		16,630
Sino-Thai Engineering & Construction PCL		28,100		8,493
Somboon Advance Technology PCL		20,300		10,817
SPCG PCL		37,500		14,813
Sri Trang Agro-Industry PCL		46,400		23,987
Supalai PCL		139,400		69,848
Super Energy Corp. PCL		759,200		13,888
Thai Oil PCL		78,877		107,170
Thai Stanley Electric PCL, NVDR		3,100		14,012
Thai Union Group PCL, Class F		164,600		81,602
Thanachart Capital PCL		33,100		34,004

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

SA Emerging Markets Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Thailand (Continued)*
Thitikorn PCL		10,500	$	2,603
Thoresen Thai Agencies PCL		37,800		7,666
TMBThanachart Bank PCL		1,537,072		49,307
TPI Polene PCL		676,600		30,314
TPI Polene Power PCL		179,000		16,704
True Corp. PCL		993,600		133,024
Unique Engineering & Construction PCL *		54,500		6,502
WHA Corp. PCL		253,200		23,628

				4,024,319

*Turkey — 0.7%*
Akbank TAS		340,098		207,658
Anadolu Efes Biracilik Ve Malt Sanayii AS		16,612		35,990
Dogan Sirketler Grubu Holding AS		84,330		21,937
Enka Insaat ve Sanayi AS		66,291		60,625
Eregli Demir ve Celik Fabrikalari TAS		61,749		96,779
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D		19,514		12,611
KOC Holding AS		57,667		141,591
TAV Havalimanlari Holding AS *		7,294		24,832
Turk Hava Yollari AO *		45,492		173,696
Turkiye Halk Bankasi AS *		35,220		13,295
Turkiye Is Bankasi, Class C		152,616		62,068
Turkiye Sinai Kalkinma Bankasi AS *		172,186		22,815
Turkiye Sise ve Cam Fabrikalari AS		75,893		104,335
Turkiye Vakiflar Bankasi TAO, Class D *		80,351		30,115
Vestel Elektronik Sanayi ve Ticaret AS		6,125		13,250
Yapi ve Kredi Bankasi AS		194,984		74,554

				1,096,151

*United Arab Emirates — 1.4%*
Abu Dhabi Commercial Bank PJSC		181,939		446,786
Agthia Group PJSC		33,252		42,910
Air Arabia PJSC		177,847		101,195
Ajman Bank PJSC *		85,055		16,117
Aldar Properties PJSC		229,175		262,674
Amanat Holdings PJSC		112,633		29,131
Dana Gas PJSC		333,486		85,798
Deyaar Development PJSC *		130,763		16,127
Dubai Investments PJSC		191,176		121,271
Dubai Islamic Bank PJSC		7,056		11,488
Emaar Development PJSC *		84,901		106,094
Emaar Properties PJSC		323,144		509,380
Emirates NBD Bank PJSC		117,080		409,593
Manazel PJSC *		139,614		13,988
RAK Properties PJSC *		114,134		23,460
Ras Al Khaimah Ceramics		60,539		48,456
SHUAA Capital PSC *		182,524		18,386

				2,262,854

TOTAL COMMON STOCKS (Identified Cost $186,446,624)				164,816,284

PREFERRED STOCKS — 1.5%
*Brazil — 1.5%*
Banco ABC Brasil SA, 5.498%		11,102		43,014
Banco Bradesco SA, 3.168%		45,504		167,360
Banco do Estado do Rio Grande do Sul SA, Class B, 8.750%		14,808		32,255
Marcopolo SA, 1.280%		42,283		22,653
Petroleo Brasileiro SA, 38.600%		385,839		2,131,490


	SHARES		VALUE†
Randon SA Implementos e Participacoes, 7.629%		9,200	$	16,202
Usinas Siderurgicas de Minas Gerais SA, Class A, 10.932%		29,592		41,253

				2,454,227

*Colombia — 0.0%*
Grupo Argos SA, 8.333%		12,517		16,291
Grupo de Inversiones Suramericana SA, 5.772%		8,046		22,340

				38,631

*Philippines — 0.0%*
Cebu Air, Inc., 6.000%		12,909		8,213

*Taiwan — 0.0%*
China Development Financial Holding Corp., 0.024%		42,970		11,098

TOTAL PREFERRED STOCKS (Identified Cost $2,121,907)
				2,512,169

RIGHTS AND WARRANTS — 0.0%
*Malaysia — 0.0%*
Yinson Holdings Bhd *		11,862		1,266

TOTAL RIGHTS AND WARRANTS (Identified Cost $0)				1,266

SHORT-TERM INVESTMENTS — 1.6%
*Investment Company — 0.2%*
State Street Institutional U.S. Government Money Market Fund 2.690%		322,407		322,407

*Collateral For Securities On Loan — 1.4%*
State Street Navigator Securities Lending Government Money Market Portfolio, 3.030%		2,299,218		2,299,218

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $2,621,625)				2,621,625

Total Investments — 101.3% (Identified Cost $191,190,156)				169,951,344
Liabilities, Less Cash and Other Assets — (1.3%)				(2,105,185	)

Net Assets — 100.0%				$167,846,159

†	See Note 1

*	Non-income producing security

@	A portion or all of the security was held on loan. As of September 30, 2022, the fair value of the securities on loan was $3,594,723.

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

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

Key to abbreviations:

ADR — American Depository Receipt

GDR — Global Depository Receipt

NVDR — Non-Voting Depository Receipt

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

Ten largest industry holdings as of September 30, 2022

(As a percentage of net assets) (Unaudited)


Industry	Percentage
Commercial Banks		20.9	%
Oil, Gas & Consumable Fuels		11.1	%
Metals & Mining		7.1	%
Real Estate Management & Development		4.6	%
Insurance		4.5	%
Electronic Equipment, Instruments & Components		4.3	%
Chemicals		4.1	%
Automobiles		3.5	%
Semiconductors & Semiconductor Equipment		3.5	%
Computers & Peripherals		3.3	%

Country weightings as of September 30, 2022

(As a percentage of long-term investments) (Unaudited)


Country	Percentage
China		30.0	%
India		18.7	%
Taiwan		17.0	%
Korea		11.3	%
Brazil		5.5	%
South Africa		3.4	%
Indonesia		2.5	%
Mexico		2.4	%
Thailand		2.4	%
Other		6.8	%

		100.0	%

SA Real Estate Securities Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
COMMON STOCKS — 99.3%
*Real Estate Investment Trusts (REITs) — 99.3%*
Acadia Realty Trust		9,876	$	124,635
Agree Realty Corp.		9,186		620,790
Alexander’s, Inc.		303		63,315
Alexandria Real Estate Equities, Inc.		16,966		2,378,464
American Assets Trust, Inc.		6,032		155,143
American Homes 4 Rent., Class A		35,207		1,155,142
American Tower Corp.		51,348		11,024,416
Americold Realty Trust, Inc.		26,876		661,150
Apartment Income REIT Corp.		16,970		655,381
Apartment Investment and Management Co., Class A		2,272		16,586
Apple Hospitality REIT, Inc.		25,660		360,780
AvalonBay Communities, Inc.		15,280		2,814,423
Bluerock Residential Growth REIT, Inc., Class A		3,300		88,275
Boston Properties, Inc.		16,596		1,244,202
Braemar Hotels & Resorts, Inc.		5,308		22,824
Brandywine Realty Trust		21,014		141,845
Brixmor Property Group, Inc.		32,966		608,882
Broadstone Net Lease, Inc.		3,622		56,250
BRT Apartments Corp.		400		8,124
Camden Property Trust		11,255		1,344,410
CareTrust REIT, Inc.		10,972		198,703
Centerspace		1,825		122,859
Chatham Lodging Trust *		5,496		54,246
City Office REIT, Inc.		5,176		51,605
Clipper Realty, Inc.		1,167		8,134
Community Healthcare Trust, Inc.		2,728		89,342
Corporate Office Properties Trust		13,288		308,680
Cousins Properties, Inc.		17,110		399,519
Crown Castle, Inc.		48,099		6,952,710
CTO Realty Growth, Inc. @		2,292		42,952
CubeSmart		25,682		1,028,821
DiamondRock Hospitality Co.		25,390		190,679
Digital Realty Trust, Inc.		32,059		3,179,612
Douglas Emmett, Inc.		20,310		364,158
Duke Realty Corp.		42,708		2,058,526
Easterly Government Properties, Inc.		9,677		152,606
EastGroup Properties, Inc.		4,697		677,965
EPR Properties		8,542		306,316
Equinix, Inc.		9,937		5,652,563
Equity Commonwealth		10,158		247,449
Equity LifeStyle Properties, Inc.		19,792		1,243,729
Equity Residential		39,592		2,661,374
Esc War Ind *§		9,141		—
Essential Properties Realty Trust, Inc.		16,250		316,063
Essex Property Trust, Inc.		7,189		1,741,391
Extra Space Storage, Inc.		14,958		2,583,396
Federal Realty OP LP		8,228		741,507
First Industrial Realty Trust, Inc.		14,902		667,759
Four Corners Property Trust, Inc.		9,280		224,483
Gaming and Leisure Properties, Inc.		28,508		1,261,194
Getty Realty Corp.		3,812		102,505
Gladstone Commercial Corp.		3,518		54,529
Global Medical REIT, Inc.		5,127		43,682
Global Net Lease, Inc.		12,591		134,094
Global Self Storage, Inc.		2,195		12,863
Healthcare Realty Trust, Inc., Class A		42,457		885,228
Healthpeak Properties, Inc.		59,836		1,371,441
Hersha Hospitality Trust		5,542		44,225
Highwoods Properties, Inc.		11,797		318,047
Host Hotels & Resorts, Inc.		79,197		1,257,648
Hudson Pacific Properties, Inc.		17,339		189,862


	SHARES		VALUE†
Independence Realty Trust, Inc.		24,425	$	408,630
InvenTrust Properties Corp.		6,885		146,857
Invitation Homes, Inc.		66,487		2,245,266
Iron Mountain, Inc.		32,992		1,450,658
JBG SMITH Properties		13,006		241,652
Kilroy Realty Corp.		11,902		501,193
Kimco Realty Corp.		67,962		1,251,180
Kite Realty Group Trust		25,026		430,948
Lamar Advertising Co., Class A		9,886		815,496
Life Storage, Inc.		9,348		1,035,385
LTC Properties, Inc.		3,972		148,751
LXP Industrial Trust		33,281		304,854
Macerich Co. (The)		25,504		202,502
Medical Properties Trust, Inc.		67,245		797,526
Mid-America Apartment Communities, Inc.		12,796		1,984,276
National Health Investors, Inc.		5,063		286,211
National Retail Properties, Inc.		20,037		798,675
National Storage Affiliates Trust		10,031		417,089
Necessity Retail REIT, Inc.		17,263		101,506
NETSTREIT Corp. @		7,830		139,452
NexPoint Residential Trust, Inc.		2,800		129,388
Omega Healthcare Investors, Inc.		26,209		772,903
One Liberty Properties, Inc.		1,802		37,878
Orion Office REIT, Inc.		6,753		59,089
Outfront Media, Inc.		16,965		257,698
Paramount Group, Inc.		20,948		130,506
Park Hotels & Resorts, Inc.		26,356		296,769
Pebblebrook Hotel Trust		15,554		225,689
Physicians Realty Trust		25,667		386,032
Piedmont Office Realty Trust, Inc., Class A		13,793		145,654
Plymouth Industrial REIT, Inc.		4,574		76,889
Prologis, Inc.		82,482		8,380,171
Public Storage		17,640		5,165,168
Realty Income Corp.		69,205		4,027,731
Regency Centers Corp.		17,214		926,974
Retail Opportunity Investments Corp.		13,420		184,659
Rexford Industrial Realty, Inc.		18,199		946,348
RLJ Lodging Trust		19,094		193,231
RPT Realty		8,058		60,918
Ryman Hospitality Properties, Inc.		6,010		442,276
Sabra Health Care REIT, Inc.		26,732		350,724
Saul Centers, Inc.		1,636		61,350
SBA Communications Corp.		11,751		3,344,922
Seritage Growth Properties, Class A *@		2,062		18,599
Service Properties Trust		20,700		107,433
Simon Property Group, Inc.		36,252		3,253,617
SITE Centers Corp.		20,691		221,601
SL Green Realty Corp. @		7,066		283,771
Sotherly Hotels, Inc. *		3,111		5,849
Spirit Realty Capital, Inc.		14,821		535,927
STAG Industrial, Inc.		20,335		578,124
STORE Capital Corp.		28,385		889,302
Summit Hotel Properties, Inc.		10,209		68,604
Sun Communities, Inc.		13,657		1,848,202
Sunstone Hotel Investors, Inc.		25,032		235,801
Tanger Factory Outlet Centers, Inc.		12,293		168,168
Terreno Realty Corp.		8,376		443,844
UDR, Inc.		36,146		1,507,650
UMH Properties, Inc.		5,369		86,709
Universal Health Realty Income Trust		1,815		78,426
Urban Edge Properties		13,783		183,865
Urstadt Biddle Properties, Inc.		1,000		15,780
Urstadt Biddle Properties, Inc., Class A		3,806		59,031
Ventas, Inc.		44,395		1,783,347
Veris Residential, Inc. *		8,319		94,587
VICI Properties, Inc.		104,910		3,131,564

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

SA Real Estate Securities Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Real Estate Investment Trusts (REITs) (Continued)*
Vornado Realty Trust		18,129	$	419,868
Washington Real Estate Investment Trust		10,445		183,414
Welltower, Inc.		52,885		3,401,563
Whitestone REIT		6,078		51,420
WP Carey, Inc. @		21,294		1,486,321
Xenia Hotels & Resorts, Inc.		13,264		182,911

				123,123,874

TOTAL COMMON STOCKS (Identified Cost $73,045,059)				123,123,874

SHORT-TERM INVESTMENTS — 0.5%
*Investment Company — 0.5%*
State Street Institutional U.S. Government Money Market Fund 2.690%		547,854		547,854

Collateral For Securities On Loan — 0.0%
State Street Navigator Securities Lending Government Money Market Portfolio 3.030%		33,486		33,486

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $581,340)				581,340

Total Investments — 99.8% (Identified Cost $73,626,399)				123,705,214
Cash and Other Assets, Less Liabilities — 0.2%				270,775

Net Assets — 100.0%			$	123,975,989

†	See Note 1

*	Non-income producing security

@	A portion or all of the security was held on loan. As of September 30, 2022, the fair value of the securities on loan was $1,759,680.

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

Key to abbreviations:

REIT — Real Estate Investment Trust

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

Portfolio Sectors as of September 30, 2022

(As a percentage of long-term investments) (Unaudited)


Sector	Percentage
Specialized REITs		29.8	%
Residential REITs		16.3	%
Retail REITs		13.0	%
Diversified REITs		12.1	%
Industrial REITs		11.2	%
Health Care REITs		8.6	%
Office REITs		6.0	%
Hotels & Resorts REITs		3.0	%

		100.0	%

SA International Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
MUTUAL FUNDS — 100.1%
*Others — 100.1%*
DFA International Small Company Portfolio £		14,011,486	$	211,993,781

TOTAL MUTUAL FUNDS (Identified Cost $153,807,450)				211,993,781

Total Investments — 100.1% (Identified Cost $153,807,450)				211,993,781
Liabilities, Less Cash and Other Assets — (0.1%)				(128,703	)

Net Assets — 100.0%			$	211,865,078

†	See Note 1

£	Please refer to the Portfolio of Investments of the DFA International Small Company Portfolio included elsewhere in this report.

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
COMMON STOCKS — 97.6%
*Australia — 7.3%*
AMP Ltd. *		59,607	$	41,750
Ansell Ltd.		2,269		36,560
Aurizon Holdings Ltd.		247,637		546,483
Australia & New Zealand Banking Group Ltd.		367,220		5,355,544
Bank of Queensland Ltd. @		38,836		161,718
Beach Energy Ltd.		184,392		175,150
Bendigo & Adelaide Bank Ltd. @		20,967		104,476
BlueScope Steel Ltd.		163,249		1,586,174
Challenger Ltd.		76,679		286,929
Cleanaway Waste Management Ltd. @		162,966		282,494
Downer EDI Ltd.		93,253		272,597
Evolution Mining Ltd.		217,587		285,318
Fortescue Metals Group Ltd.		17,284		185,957
Harvey Norman Holdings Ltd. @		136,089		351,679
Incitec Pivot Ltd.		255,280		573,147
Lendlease Corp. Ltd.		43,821		250,029
National Australia Bank Ltd.		277,129		5,107,021
Newcrest Mining Ltd.		80,215		868,157
Nine Entertainment Co. Holdings Ltd.		178,284		212,683
Orica Ltd.		35,145		297,192
Origin Energy Ltd.		168,307		556,590
OZ Minerals Ltd. @		30,495		502,868
QBE Insurance Group Ltd.		41,216		303,975
Qube Holdings Ltd. @		60,569		96,083
Rio Tinto Ltd.		21,996		1,313,973
Santos Ltd.		447,931		2,031,420
Seven Group Holdings Ltd. @		3,940		42,718
Sonic Healthcare Ltd.		12,822		250,805
South32 Ltd.		637,438		1,480,086
Suncorp Group Ltd.		186,999		1,199,727
Tabcorp Holdings Ltd.		212,601		127,151
TPG Telecom Ltd. @		26,524		82,285
Treasury Wine Estates Ltd.		13,295		106,897
Viva Energy Group Ltd. ±		56,360		94,092
Westpac Banking Corp.		382,716		5,052,760
Whitehaven Coal Ltd.		121,581		700,701
Woodside Energy Group Ltd.		151,540		3,068,885
Worley Ltd.		30,039		244,600

				34,236,674

*Austria — 0.0%*
Erste Group Bank AG		7,953		176,464

*Belgium — 0.6%*
Ageas SA		21,755		798,258
KBC Group NV		25,395		1,211,068
Solvay SA		9,936		775,516
UCB SA		1,487		103,646

				2,888,488

*Bermuda — 0.0%*
Golden Ocean Group Ltd.		18,503		138,732

*Canada — 10.3%*
Agnico Eagle Mines Ltd.		24,874		1,050,429
AltaGas Ltd.		24,518		469,469
ARC Resources Ltd. @		45,197		542,816
Bank of Montreal		3,107		272,317
Bank of Montreal @		62,752		5,499,585
Bank of Nova Scotia (The) @		95,362		4,536,370
Bank of Nova Scotia (The)		22,104		1,051,314
Barrick Gold Corp.		19,319		299,432
Barrick Gold Corp.		124,277		1,926,294
Canadian Imperial Bank of Commerce @		17,984		786,980
Canadian Imperial Bank of Commerce @		77,080		3,373,697


	SHARES		VALUE†
Canadian Natural Resources Ltd.		61,504	$	2,864,241
Cenovus Energy, Inc. @		41,371		635,872
Fairfax Financial Holdings Ltd.		4,452		2,033,317
First Quantum Minerals Ltd.		84,695		1,437,795
Great-West Lifeco, Inc.		16,930		365,478
iA Financial Corp., Inc.		14,590		741,356
Imperial Oil Ltd.		27,731		1,199,920
Kinross Gold Corp.		173,331		652,493
Lundin Mining Corp.		146,222		738,864
Magna International, Inc. @		36,055		1,709,728
Manulife Financial Corp.		133,235		2,087,793
MEG Energy Corp. *		8,690		97,258
Nutrien Ltd.		45,916		3,828,476
Saputo, Inc. @		6,138		146,324
Sun Life Financial, Inc.		16,524		656,994
Suncor Energy, Inc. ¥		109,045		3,070,801
Suncor Energy, Inc.		41,675		1,173,151
Teck Resources Ltd., Class B		84,647		2,574,115
Toronto-Dominion Bank (The) @		6,483		397,602
Tourmaline Oil Corp.		21,322		1,108,124
Turquoise Hill Resources Ltd. *@		1,819		53,788
West Fraser Timber Co. Ltd. @		13,116		948,841
Whitecap Resources, Inc.		51,254		324,291

				48,655,325

*China — 0.0%*
Prosus NV *		1,797		95,049
Xinyi Glass Holdings Ltd.		23,000		33,462

				128,511

*Denmark — 1.7%*
AP Moller—Maersk A/S, Class A		246		437,103
AP Moller—Maersk A/S, Class B		372		679,863
Carlsberg A/S, Class B		15,826		1,864,533
Chr Hansen Holding A/S		7,475		369,291
Danske Bank A/S		41,578		519,773
Demant A/S *		6,785		168,988
DSV A/S		16,777		1,981,440
Pandora A/S		771		36,494
Tryg A/S		15,313		316,695
Vestas Wind Systems A/S		84,743		1,581,929

				7,956,109

*Finland — 1.2%*
Nokia Oyj, ADR		338,897		1,447,090
Nordea Bank Abp		224,183		1,933,453
Stora Enso Oyj, R Shares		77,897		999,330
UPM-Kymmene Oyj		33,074		1,056,054

				5,435,927

*France — 10.3%*
Accor SA *		6,035		127,815
Alstom SA		7,849		128,809
Amundi SA ±		5,568		234,429
Arkema SA		12,548		923,309
AXA SA		96,903		2,134,446
BNP Paribas SA		92,085		3,935,260
Bollore SE		138,791		642,297
Bouygues SA @		55,128		1,450,657
Carrefour SA		128,110		1,784,753
Cie de Saint-Gobain		92,022		3,341,398
Cie Generale des Etablissements Michelin SCA		119,912		2,721,170
Credit Agricole SA		62,747		514,346
Eiffage SA		10,100		816,825
Electricite de France SA		76,035		886,020
Engie SA		170,127		1,974,452
Euroapi SA *		1,502		25,084

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*France (Continued)*
Faurecia SE *		4,468	$	48,189
Orange SA		322,578		2,923,687
Publicis Groupe SA *		29,051		1,392,253
Renault SA *		21,069		577,543
Rexel SA *		12,237		185,650
Sanofi		34,561		2,655,527
Societe Generale SA		88,773		1,776,146
TotalEnergies SE @		357,966		16,936,058
Vinci SA		2,407		196,196
Vivendi SE		18,206		142,243
Worldline SA *±		3,145		125,386

				48,599,948

*Germany — 5.5%*
Allianz SE		9,170		1,454,106
BASF SE		75,282		2,921,693
Bayer AG		30,654		1,424,463
Bayerische Motoren Werke AG		53,296		3,655,770
Commerzbank AG *		168,835		1,214,857
Continental AG		6,941		312,576
Covestro AG ±		24,283		703,009
Daimler Truck Holding AG *		67,992		1,555,940
Deutsche Bank AG		46,122		345,614
Deutsche Bank AG		92,725		686,165
Evonik Industries AG		12,943		218,813
Fresenius Medical Care AG & Co. KGaA		7,008		199,384
Fresenius SE & Co. KGaA		42,320		910,392
HeidelbergCement AG		25,898		1,036,828
Mercedes-Benz Group AG		135,985		6,976,795
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		1,590		385,674
Siemens Energy AG *		13,742		153,331
Talanx AG *		12,026		429,013
Telefonica Deutschland Holding AG		207,880		422,338
Vitesco Technologies Group AG Class A *		911		44,731
Volkswagen AG		6,122		1,011,878

				26,063,370

*Hong Kong — 2.3%*
BOC Aviation Ltd. ±		19,500		138,493
BOC Hong Kong Holdings Ltd.		285,000		949,437
Cathay Pacific Airways Ltd. *@		230,363		242,992
CK Asset Holdings Ltd.		200,569		1,206,023
CK Hutchison Holdings Ltd.		336,624		1,861,164
CK Infrastructure Holdings Ltd.		24,000		122,451
Hang Lung Properties Ltd.		239,000		392,160
Hang Seng Bank Ltd.		32,600		495,044
Henderson Land Development Co. Ltd.		133,684		374,673
MTR Corp. Ltd.		126,669		581,735
New World Development Co. Ltd.		231,859		658,686
Sino Land Co. Ltd.		453,420		599,581
Sun Hung Kai Properties Ltd.		182,177		2,015,641
Swire Pacific Ltd., Class A		49,000		366,736
Swire Pacific Ltd., Class B		127,500		148,946
Tsim Sha Tsui Properties Ltd.		6,907		19,534
WH Group Ltd. ±		1,342,459		846,557

				11,019,853

*Ireland — 0.4%*
AIB Group PLC		31,002		75,533


	SHARES		VALUE†
Bank of Ireland Group PLC		56,367	$	363,827
CRH PLC, ADR @		40,650		1,310,150
Flutter Entertainment PLC *		3,025		335,662

				2,085,172

*Israel — 0.5%*
Bank Hapoalim B.M.		96,782		820,934
Harel Insurance Investments & Financial Services Ltd.		13,270		117,211
Israel Discount Bank Ltd., Class A		123,630		626,082
Migdal Insurance & Financial Holding Ltd.		22,264		29,773
Phoenix Holdings Ltd. (The)		20,373		194,061
Teva Pharmaceutical Industries Ltd., ADR *		62,581		505,029

				2,293,090

*Italy — 1.2%*
Eni SpA @		139,109		1,487,401
Intesa Sanpaolo SpA		1,039,975		1,735,541
Mediobanca Banca di Credito Finanziario SpA		37,683		297,666
Telecom Italia SpA *@		2,860,918		533,571
UniCredit SpA		163,283		1,673,547

				5,727,726

*Japan — 20.4%*
AGC, Inc.		48,500		1,504,629
Air Water, Inc.		11,200		132,174
Aisin Corp.		22,500		576,764
Alfresa Holdings Corp. @		7,700		89,912
Alps Alpine Co. Ltd. @		27,500		198,749
Amada Co. Ltd.		37,100		251,469
Aozora Bank Ltd. @		14,700		262,250
Asahi Group Holdings Ltd.		20,700		641,324
Asahi Kasei Corp.		145,500		960,583
Bank of Kyoto Ltd. (The)		8,000		292,407
Bridgestone Corp.		30,800		993,610
Brother Industries Ltd.		32,400		557,648
Canon Marketing Japan, Inc.		12,000		265,322
Canon, Inc.		33,500		734,209
Chiba Bank Ltd. (The)		79,000		425,212
Coca-Cola Bottlers Japan Holdings, Inc.		13,975		135,569
Concordia Financial Group Ltd.		111,200		343,442
Cosmo Energy Holdings Co. Ltd.		11,900		305,044
Dai-ichi Life Holdings, Inc.		69,900		1,106,963
Daicel Corp.		52,000		305,756
Daiwa House Industry Co. Ltd.		34,600		703,690
Daiwa Securities Group, Inc. @		214,000		837,488
Denka Co. Ltd.		16,200		355,386
DIC Corp.		16,000		266,095
Dowa Holdings Co. Ltd.		9,600		344,255
ENEOS Holdings, Inc.		470,600		1,512,306
Ezaki Glico Co. Ltd.		3,000		73,896
FUJIFILM Holdings Corp.		6,200		283,119
Fujikura Ltd.		10,500		62,537
Fukuoka Financial Group, Inc.		18,000		319,132
Hankyu Hanshin Holdings, Inc.		31,900		958,785
Haseko Corp.		22,300		242,060
Hino Motors Ltd.		37,400		154,014
Hitachi Construction Machinery Co. Ltd.		8,000		147,917
Hitachi Ltd.		10,400		439,339
Honda Motor Co. Ltd.		185,900		4,029,353
House Foods Group, Inc.		2,800		55,853

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Japan (Continued)*
Idemitsu Kosan Co. Ltd. @		29,400	$	636,834
IHI Corp.		6,000		128,515
Iida Group Holdings Co. Ltd.		36,900		500,482
INFRONEER Holdings, Inc.		12,800		87,025
Inpex Corp.		144,500		1,356,840
Isuzu Motors Ltd.		67,000		739,301
ITOCHU Corp.		18,000		435,418
Iwatani Corp.		4,900		184,516
J. Front Retailing Co. Ltd.		35,100		285,204
Japan Post Holdings Co. Ltd.		71,600		473,788
Japan Post Insurance Co. Ltd.		4,500		62,993
JFE Holdings, Inc.		44,000		407,683
JTEKT Corp.		43,200		273,414
K’s Holdings Corp.		32,000		264,216
Kajima Corp.		54,000		512,278
Kamigumi Co. Ltd.		15,700		290,070
Kaneka Corp.		16,000		399,088
Kawasaki Heavy Industries Ltd. @		32,800		495,637
Komatsu Ltd.		42,600		768,525
Kuraray Co. Ltd.		76,400		533,686
LIXIL Corp.		38,200		559,288
Mabuchi Motor Co. Ltd.		5,100		138,485
Makita Corp.		7,800		150,848
Marubeni Corp.		109,400		958,469
Mazda Motor Corp.		65,100		430,012
Mebuki Financial Group, Inc.		83,070		161,858
Medipal Holdings Corp.		25,300		322,172
Mitsubishi Chemical Group Corp.		185,800		849,342
Mitsubishi Corp. @		105,400		2,889,706
Mitsubishi Electric Corp.		129,700		1,169,030
Mitsubishi Gas Chemical Co., Inc.		36,300		475,539
Mitsubishi Heavy Industries Ltd.		39,200		1,301,701
Mitsubishi Logistics Corp.		2,500		58,903
Mitsubishi Materials Corp.		21,600		296,845
Mitsubishi Motors Corp. *		41,900		149,963
Mitsubishi UFJ Financial Group, Inc.		206,400		929,107
Mitsubishi UFJ Financial Group, Inc., ADR		464,844		2,091,798
Mitsui Chemicals, Inc.		47,200		919,345
Mitsui Fudosan Co. Ltd.		54,100		1,029,631
Mitsui OSK Lines Ltd. @		30,300		544,743
Mizuho Financial Group, Inc.		107,740		1,163,157
MS&AD Insurance Group Holdings, Inc.		24,728		655,404
NEC Corp.		35,800		1,144,027
NGK Insulators Ltd.		22,300		277,344
NGK Spark Plug Co. Ltd.		10,600		187,640
NH Foods Ltd.		15,533		408,904
Nippon Electric Glass Co. Ltd.		11,500		198,090
Nippon Express Holdings, Inc.		15,900		808,568
Nippon Shokubai Co. Ltd.		4,600		171,630
Nippon Steel Corp.		60,327		836,358
Nippon Yusen KK @		30,300		516,480
Nissan Motor Co. Ltd.		222,800		708,440
Nisshin Seifun Group, Inc.		3,900		39,558
Nomura Holdings, Inc.		175,700		580,770
Nomura Real Estate Holdings, Inc.		23,700		536,292
NSK Ltd. @		59,600		291,144
Obayashi Corp.		72,500		464,866
Oji Holdings Corp.		226,000		840,102
Otsuka Holdings Co. Ltd.		13,300		421,248
Panasonic Holdings Corp. @		168,500		1,181,118
Resona Holdings, Inc.		246,400		898,910
Ricoh Co. Ltd.		41,800		304,987
Rohm Co. Ltd.		4,700		307,207


	SHARES		VALUE†
Santen Pharmaceutical Co. Ltd.		30,800	$	207,490
SBI Holdings, Inc.		9,400		168,606
Seiko Epson Corp.		29,400		400,180
Seino Holdings Co. Ltd.		20,400		163,504
Sekisui Chemical Co. Ltd.		16,000		195,454
Sekisui House Ltd.		81,800		1,357,022
Seven & i Holdings Co. Ltd.		5,200		208,604
Shimizu Corp.		68,400		335,076
Shizuoka Bank Ltd. (The) *<>		58,000		356,263
Showa Denko KK		14,000		198,687
Sohgo Security Services Co., Ltd.		2,400		60,361
Sojitz Corp.		35,820		525,680
Sompo Holdings, Inc.		33,043		1,315,510
Stanley Electric Co. Ltd.		11,500		179,894
Subaru Corp.		78,600		1,176,855
Sumitomo Chemical Co. Ltd.		471,000		1,617,405
Sumitomo Corp.		59,000		734,799
Sumitomo Electric Industries Ltd.		164,200		1,660,947
Sumitomo Forestry Co. Ltd.		33,800		514,952
Sumitomo Heavy Industries Ltd.		26,000		480,191
Sumitomo Metal Mining Co. Ltd.		29,600		850,798
Sumitomo Mitsui Financial Group, Inc.		71,100		1,976,829
Sumitomo Mitsui Trust Holdings, Inc.		24,900		705,210
Sumitomo Pharma Co. Ltd.		19,400		138,198
Sumitomo Realty & Development Co. Ltd.		25,600		581,585
Sumitomo Rubber Industries Ltd.		42,800		340,377
Suzuken Co. Ltd.		1,100		25,119
Suzuki Motor Corp.		27,300		845,238
T&D Holdings, Inc.		77,400		731,056
Taiheiyo Cement Corp.		25,000		352,035
Taisei Corp.		7,200		199,986
Takeda Pharmaceutical Co. Ltd.		141,973		3,695,241
TDK Corp.		21,400		658,723
Teijin Ltd.		53,199		515,339
THK Co. Ltd.		3,200		55,187
Toda Corp. @		28,000		143,937
Tokai Carbon Co. Ltd.		21,300		144,080
Tokyo Tatemono Co. Ltd.		37,600		534,656
Tokyu Fudosan Holdings Corp.		132,300		686,501
Toray Industries, Inc.		166,100		816,900
Tosoh Corp.		58,300		648,539
Toyo Seikan Group Holdings Ltd.		30,500		367,526
Toyo Tire Corp.		3,700		40,137
Toyoda Gosei Co. Ltd.		15,300		230,985
Toyota Boshoku Corp.		3,600		44,077
Toyota Motor Corp.		577,450		7,484,946
Toyota Tsusho Corp.		32,500		1,006,011
Tsuruha Holdings, Inc.		1,000		58,661
UBE Corp.		24,700		329,720
Yamada Holdings Co. Ltd.		93,100		306,195
Yamaha Motor Co. Ltd.		37,200		695,781
Yamazaki Baking Co. Ltd.		11,300		129,841
Yokohama Rubber Co. Ltd. (The)		27,600		422,591
Z Holdings Corp.		67,600		177,583
Zeon Corp.		28,500		251,662

				96,121,533

*Netherlands — 4.3%*
ABN AMRO Group NV GDR ±		42,957		388,499
Aegon NV		149,418		600,685
Akzo Nobel NV		20,561		1,175,195
ArcelorMittal SA @		60,669		1,207,920
ArcelorMittal SA =		1,708		34,592
ASR Nederland NV		2,953		114,519
Coca-Cola Europacific Partners PLC		11,100		481,920

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Netherlands (Continued)*
Heineken NV		3,239	$	285,250
ING Groep NV		253,754		2,202,911
JDE Peet’s NV		7,435		218,163
Koninklijke Ahold Delhaize NV		202,103		5,176,587
Koninklijke DSM NV		15,922		1,832,732
Koninklijke KPN NV		238,229		647,196
Koninklijke Philips NV @¢		33,065		518,486
Koninklijke Philips NV		13,461		207,165
NN Group NV		35,104		1,375,115
OCI NV		3,580		131,782
Randstad NV @		16,773		732,823
Stellantis NV		191,757		2,306,295
Stellantis NV @		56,317		666,793

				20,304,628

*New Zealand — 0.3%*
Auckland International Airport Ltd. *		143,857		579,669
EBOS Group Ltd.		16,635		350,141
Fletcher Building Ltd.		87,592		237,261
Ryman Healthcare Ltd.		16,629		79,570
Summerset Group Holdings Ltd.		14,300		86,272

				1,332,913

*Norway — 0.8%*
Aker ASA, A Shares		1,271		82,410
Austevoll Seafood ASA		4,118		27,892
DNB Bank ASA		96,212		1,527,322
Elkem ASA ±*		36,022		116,385
Norsk Hydro ASA		156,773		847,180
Schibsted ASA, Class A		1,169		15,868
SpareBank 1 SR-Bank ASA		18,440		172,740
Storebrand ASA		56,200		389,480
Subsea 7 SA		28,831		229,038
Wallenius Wilhelmsen ASA		13,553		67,588
Yara International ASA		14,514		510,926

				3,986,829

*Portugal — 0.2%*
EDP Renovaveis SA		27,349		563,943
Galp Energia SGPS SA @		16,108		155,088

				719,031

*Singapore — 1.1%*
Capitaland Investment Ltd.		184,100		444,788
City Developments Ltd.		58,800		311,144
Frasers Property Ltd.		23,300		15,898
Hongkong Land Holdings Ltd.		101,200		447,304
Keppel Corp. Ltd.		311,700		1,508,313
Olam Group Ltd.		94,300		86,011
Oversea-Chinese Banking Corp. Ltd.		67,249		553,912
Singapore Airlines Ltd. *@		195,249		693,312
UOL Group Ltd.		47,218		218,625
Wilmar International Ltd.		253,300		677,230

				4,956,537

*Spain — 2.1%*
Banco Bilbao Vizcaya Argentaria SA		228,555		1,034,971
Banco Bilbao Vizcaya Argentaria SA, ADR		210,800		938,060
Banco Santander SA		1,916,252		4,502,560
Banco Santander SA, ADR		210,864		489,204
CaixaBank SA		120,960		392,509


	SHARES		VALUE†
Repsol SA *		203,118	$	2,349,972

				9,707,276

*Sweden — 2.6%*
BillerudKorsnas AB		26,684		315,948
Boliden AB *		52,582		1,641,996
Dometic Group AB ±		22,074		114,849
Electrolux AB, Class B @		19,353		202,674
Essity AB, B Shares		3,803		75,665
Holmen AB, B Shares		11,612		444,175
Husqvarna AB, B Shares @		21,106		118,104
Intrum AB		4,926		62,431
Loomis AB		2,004		49,515
Millicom International Cellular SA, SDR *		14,863		171,764
Peab AB Class B		24,592		118,443
Saab AB Class B		4,192		131,302
Securitas AB B Shares @		28,869		201,866
Skandinaviska Enskilda Banken AB, Class A		140,768		1,354,703
Skanska AB, B Shares		40,249		505,939
SKF AB, B Shares @		64,782		877,077
SSAB AB, A Shares		29,362		130,834
SSAB AB, B Shares		84,454		364,066
Svenska Cellulosa AB SCA, A Shares		244		3,135
Svenska Cellulosa AB SCA, B Shares		33,674		430,876
Svenska Handelsbanken AB, A Shares		66,999		553,130
Svenska Handelsbanken AB, B Shares @		1,918		18,838
Swedbank AB, A Shares		38,879		514,468
Telefonaktiebolaget LM Ericsson, B Shares @		64,322		379,580
Telia Co. AB @		304,898		879,996
Trelleborg AB, B Shares		32,833		621,001
Volvo AB, A Shares		17,414		258,598
Volvo AB, B Shares		104,968		1,495,212

				12,036,185

*Switzerland — 9.4%*
ABB Ltd.		29,520		771,882
Alcon, Inc. µ		30,384		1,790,337
Alcon, Inc.		1,965		114,324
Baloise Holding AG		6,063		778,537
Cie Financiere Richemont SA, Class A		42,798		4,089,384
Credit Suisse Group AG *		129,912		523,493
Credit Suisse Group AG, ADR *@		15,888		62,281
Holcim AG *		72,351		3,004,909
Julius Baer Group Ltd. *		38,000		1,675,281
Novartis AG		122,351		9,365,735
Novartis AG, ADR @		32,730		2,487,807
SIG Group AG @*		33,586		686,901
Swatch Group AG (The) µ		6,226		263,502
Swatch Group AG (The) µ		1,834		417,283
Swiss Life Holding AG		4,035		1,793,197
Swiss Prime Site AG *		1,574		126,022
Swiss Re AG		23,316		1,728,792
Swisscom AG		4,128		1,939,118
UBS Group AG		364,408		5,345,907
Zurich Insurance Group AG		17,812		7,130,577

				44,095,269

*United Kingdom — 15.1%*
Anglo American PLC		80,657		2,463,525
Associated British Foods PLC		15,246		214,744

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

SA International Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*United Kingdom (Continued)*
Aviva PLC		449,065	$	1,946,448
Barclays PLC, ADR		330,258		2,113,651
Barratt Developments PLC		47,310		180,764
Bellway PLC		1,481		28,161
Berkeley Group Holdings PLC		878		32,322
BP PLC		350,960		1,697,165
BP PLC, ADR		131,324		3,749,300
British American Tobacco PLC		183,504		6,610,820
British American Tobacco PLC, ADR		2,004		71,142
BT Group PLC		1,231,112		1,668,075
Direct Line Insurance Group PLC		46,142		95,569
DS Smith PLC		127,033		364,384
Endeavour Mining PLC		15,498		285,872
Glencore PLC *		1,163,787		6,213,207
HSBC Holdings PLC, ADR @		212,695		5,544,959
J Sainsbury PLC		422,622		822,484
Johnson Matthey PLC		6,038		123,542
Kingfisher PLC		420,977		1,035,972
Lloyds Banking Group PLC		8,264,877		3,819,530
Lloyds Banking Group PLC, ADR		217,015		388,457
Marks & Spencer Group PLC *		28,538		31,443
Melrose Industries PLC		316,251		360,878
NatWest Group PLC		98,002		247,189
Natwest Group PLC, ADR @		107,133		534,594
Pearson PLC		17,918		173,415
Pearson PLC, ADR @		5,700		54,435
Phoenix Group Holdings PLC		42,251		248,520
Royal Mail PLC		63,477		130,729
Shell PLC, ADR		460,830		22,930,901
Standard Chartered PLC		186,070		1,177,564
Taylor Wimpey PLC		139,975		138,003
Tesco PLC		565,145		1,304,934
Vodafone Group PLC		3,758,387		4,243,427

				71,046,125

*United States — 0.0%*
Sims Ltd.		14,609		125,031

TOTAL COMMON STOCKS (Identified Cost $496,711,601)				459,836,746

PREFERRED STOCKS — 1.2%
*Germany — 1.2%*
Bayerische Motoren Werke AG, 8.792%		9,731		638,016
Henkel AG & Co. KGaA, 3.044%		2,169		129,712
Porsche Automobil Holding SE, 4.425%		17,284		985,183
Volkswagen AG, 6.014%		30,282		3,751,284

				5,504,195

*Italy — 0.0%*
Telecom Italia SpA, 6.500% *		711,381		128,980

TOTAL PREFERRED STOCKS (Identified Cost $9,269,087)				5,633,175

SHORT-TERM INVESTMENTS — 5.0%
*Investment Company — 0.1%*
State Street Institutional U.S. Government Money Market Fund 2.690%		345,444		345,444

*Collateral For Securities On Loan — 4.9%*
State Street Navigator Securities Lending Government Money Market Portfolio, 3.030%		23,096,995		23,096,995

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $23,442,439)				23,442,439


	VALUE†
Total Investments — 103.8% (Identified Cost $529,423,127)	$	488,912,360
Liabilities, Less Cash and Other Assets — (3.8%)		(17,726,053	)

Net Assets — 100.0%	$	471,186,307

†	See Note 1

*	Non-income producing security

@	A portion or all of the security was held on loan. As of September 30, 2022, the fair value of the securities on loan was $41,018,814.

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

¥	Traded on the Canada, Toronto Stock Exchange.

=	Traded on the France, Euronext Paris Exchange.

¢	Traded on the Netherlands, Euronext Amsterdam Stock Market.

µ	Traded on the Switzerland, Swiss Exchange.

Key to abbreviations:

ADR — American Depository Receipt

SDR — Swedish Depository Receipt

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

Ten largest industry holdings as of September 30, 2022

(As a percentage of net assets) (Unaudited)


Industry	Percentage
Commercial Banks		18.8	%
Oil, Gas & Consumable Fuels		14.9	%
Automobiles		7.8	%
Insurance		7.2	%
Metals & Mining		6.6	%
Chemicals		5.2	%
Pharmaceuticals		4.5	%
Real Estate Management & Development		2.5	%
Capital Markets		2.2	%
Auto Components		2.1	%

Country weightings as of September 30, 2022

(As a percentage of long-term investments) (Unaudited)


Country	Percentage
Japan		20.5	%
United Kingdom		15.3	%
Canada		10.5	%
France		10.4	%
Switzerland		9.5	%
Australia		7.4	%
Germany		6.8	%
Netherlands		4.4	%
Sweden		2.6	%
Other		12.6	%

		100.0	%

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
COMMON STOCKS — 99.7%
*Aerospace & Defense — 1.5%*
AAR Corp. *		4,010	$	143,638
Aerojet Rocketdyne Holdings, Inc. *		13,783		551,182
Aerovironment, Inc. *		2,697		224,822
Astronics Corp. Class B *		693		5,891
Axon Enterprise, Inc. *		4,947		572,615
BWX Technologies, Inc.		3,927		197,803
Curtiss-Wright Corp.		2,577		358,615
Ducommun, Inc. *		1,489		59,054
Hexcel Corp.		5,671		293,304
Innovative Solutions & Support, Inc. *		3,248		28,030
Kaman Corp.		3,031		84,656
Kratos Defense & Security Solutions, Inc. *		11,721		119,085
Mercury Systems, Inc. *		4,277		173,646
Moog, Inc., Class A		3,044		214,146
National Presto Industries, Inc.		709		46,121
Park Aerospace Corp.		2,501		27,611
SIFCO Industries, Inc. *		1,187		3,644
Textron, Inc.		10,503		611,905
V2X, Inc. *		1,491		52,781
Woodward, Inc.		4,322		346,884

				4,115,433

*Air Freight & Logistics — 0.4%*
Air Transport Services Group, Inc. *		8,228		198,212
Atlas Air Worldwide Holdings, Inc. *		3,175		303,435
Forward Air Corp.		3,327		300,295
HUB Group, Inc., Class A *		4,420		304,892
Radiant Logistics, Inc. *		6,146		34,971

				1,141,805

*Airlines — 0.3%*
Alaska Air Group, Inc. *		9,239		361,707
Allegiant Travel Co. *		1,420		103,632
American Airlines Group, Inc. *		6,949		83,666
Hawaiian Holdings, Inc. *		6,255		82,253
Skywest, Inc. *		4,643		75,495
Spirit Airlines, Inc. *		3,315		62,388

				769,141

*Auto Components — 1.5%*
Adient PLC *		3,064		85,026
American Axle & Manufacturing Holdings, Inc. *		5,221		35,659
Autoliv, Inc.		6,358		423,633
BorgWarner, Inc.		15,123		474,862
Dana, Inc.		9,900		113,157
Dorman Products, Inc. *		3,535		290,294
Fox Factory Holding Corp. *		4,825		381,561
Gentex Corp.		15,377		366,588
Gentherm, Inc. *		4,234		210,557
Goodyear Tire & Rubber Co. (The) *		21,163		213,535
LCI Industries		2,757		279,725
Lear Corp.		4,020		481,154
Modine Manufacturing Co. *		6,449		83,450
Motorcar Parts of America, Inc. *		2,267		34,504
Patrick Industries, Inc.		2,334		102,322
Standard Motor Products, Inc.		2,639		85,767
Stoneridge, Inc. *		2,727		46,223
Strattec Security Corp. *		941		19,573
Tenneco, Inc. Class A *		5,563		96,741
Visteon Corp. *		2,696		285,938

				4,110,269

*Automobiles — 0.2%*
Harley-Davidson, Inc.		9,600		334,848
Thor Industries, Inc.		2,126		148,778


	SHARES		VALUE†
Winnebago Industries, Inc.		3,191	$	169,793

				653,419

*Beverages — 0.6%*
Celsius Holdings, Inc. *@		675		61,209
Coca-Cola Consolidated, Inc.		1,082		445,492
Duckhorn Portfolio, Inc. (The) *		6,810		98,268
MGP Ingredients, Inc. @		1,851		196,502
Molson Coors Beverage Co., Class B		12,855		616,912
National Beverage Corp.		8,395		323,543

				1,741,926

*Biotechnology — 2.4%*
Adicet Bio, Inc. *		997		14,177
Agios Pharmaceuticals, Inc. *		2,538		71,775
Albireo Pharma, Inc. *		1,018		19,708
Aldeyra Therapeutics, Inc. *		3,971		21,205
Alkermes PLC *		7,251		161,915
Allogene Therapeutics, Inc. *@		7,669		82,825
AnaptysBio, Inc. *@		2,569		65,535
Anika Therapeutics, Inc. *		1,795		42,721
Arcturus Therapeutics Holdings, Inc. *		918		13,605
Arcus Biosciences, Inc. *		2,904		75,969
Avid Bioservices, Inc. *		5,672		108,449
Avidity Biosciences, Inc. *		2,809		45,871
Bluebird Bio, Inc. *@		2,873		18,186
Catalyst Pharmaceuticals, Inc. *		8,570		109,953
Chinook Therapeutics, Inc. *		3,378		66,411
Concert Pharmaceuticals, Inc. *		2,527		16,931
Crinetics Pharmaceuticals, Inc. *		551		10,822
CRISPR Therapeutics AG *@		3,065		200,298
Deciphera Pharmaceuticals, Inc. *		3,479		64,362
Design Therapeutics, Inc. *		1,007		16,837
Dynavax Technologies Corp. *@		5,866		61,241
Eagle Pharmaceuticals, Inc. *		488		12,893
Editas Medicine, Inc. *@		4,524		55,374
Eiger BioPharmaceuticals, Inc. *		4,040		30,421
Emergent BioSolutions, Inc. *		5,055		106,104
Enanta Pharmaceuticals, Inc. *		2,226		115,463
Exact Sciences Corp. *		5,884		191,171
Exelixis, Inc. *		22,934		359,605
Fate Therapeutics, Inc. *@		417		9,345
Global Blood Therapeutics, Inc. *		586		39,907
Halozyme Therapeutics, Inc. *		10,812		427,507
Ideaya Biosciences, Inc. *		1,587		23,678
Immunovant, Inc. *		2,092		11,673
Intellia Therapeutics, Inc. *		2,590		144,936
Ionis Pharmaceuticals, Inc. *		1,139		50,378
Iovance Biotherapeutics, Inc. *		6,868		65,795
Ironwood Pharmaceuticals, Inc. *		11,743		121,658
IVERIC bio, Inc. *		3,627		65,068
KalVista Pharmaceuticals, Inc. *		767		11,129
Karuna Therapeutics, Inc. *		1,267		284,986
Krystal Biotech, Inc. *		1,598		111,381
Kura Oncology, Inc. *		3,957		54,053
Kymera Therapeutics, Inc. *		985		21,443
Ligand Pharmaceuticals, Inc. *		1,727		148,712
Madrigal Pharmaceuticals, Inc. *		145		9,424
Mirati Therapeutics, Inc. *		1,056		73,751
Morphic Holding, Inc. *		799		22,612
Myriad Genetics, Inc. *		8,130		155,120
Neurocrine Biosciences, Inc. *		7,426		788,715
Nurix Therapeutics, Inc. *		1,290		16,809
PDL BioPharma, Inc. *§		18,262		48,942
PMV Pharmaceuticals, Inc. *		949		11,293
Prothena Corp. PLC *		2,885		174,918
RAPT Therapeutics, Inc. *		1,320		31,759

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Biotechnology (Continued)*
REGENXBIO, Inc. *		2,291	$	60,551
Relay Therapeutics, Inc. *		1,663		37,201
Replimune Group, Inc. *		2,517		43,469
REVOLUTION Medicines, Inc. *		5,004		98,679
Rocket Pharmaceuticals, Inc. *		2,904		46,348
Sage Therapeutics, Inc. *		2,831		110,862
Sangamo Therapeutics, Inc. *		6,511		31,904
Sarepta Therapeutics, Inc. *		465		51,401
Stoke Therapeutics, Inc. *		700		8,988
Syndax Pharmaceuticals, Inc. *		5,678		136,442
Travere Therapeutics, Inc. *		3,687		90,848
Twist Bioscience Corp. *		2,497		87,994
United Therapeutics Corp. *		3,253		681,113
Veracyte, Inc. *		2,221		36,869
Xencor, Inc. *		3,134		81,421
Xenon Pharmaceuticals, Inc. *		338		12,202

				6,701,111

*Building Products — 2.8%*
A.O. Smith Corp.		8,970		435,763
AAON, Inc.		7,440		400,867
Advanced Drainage Systems, Inc.		7,559		940,113
Allegion PLC		575		51,566
American Woodmark Corp. *		1,353		59,342
Apogee Enterprises, Inc.		2,316		88,517
Armstrong World Industries, Inc.		4,794		379,829
Builders FirstSource, Inc. *		21,211		1,249,752
Carlisle Cos., Inc.		3,012		844,595
CSW Industrials, Inc.		1,174		140,645
Gibraltar Industries, Inc. *		3,042		124,509
Griffon Corp.		5,311		156,781
Insteel Industries, Inc.		2,278		60,435
Lennox International, Inc.		1,677		373,418
Masco Corp.		2,284		106,640
Masonite International Corp. *		169		12,048
Owens Corning		6,683		525,351
PGT Innovations, Inc. *		6,135		128,590
Quanex Building Products Corp.		3,883		70,515
Simpson Manufacturing Co., Inc.		4,397		344,725
Trex Co., Inc. *		10,510		461,809
UFP Industries, Inc.		7,021		506,635
Zurn Elkay Water Solutions Corp.		14,150		346,675

				7,809,120

*Capital Markets — 2.8%*
Affiliated Managers Group, Inc.		4,043		452,209
Artisan Partners Asset Management, Inc., Class A		7,515		202,379
AssetMark Financial Holdings, Inc. *		2,009		36,745
B Riley Financial, Inc.		732		32,589
BGC Partners, Inc., Class A		30,567		95,980
Blucora, Inc. *		7,622		147,409
Brightsphere Investment Group, Inc.		2,826		42,136
Cboe Global Markets, Inc.		197		23,122
Cohen & Steers, Inc.		5,127		321,104
Cowen, Inc. Class A @		2,940		113,602
Diamond Hill Investment Group, Inc.		289		47,685
Donnelley Financial Solutions, Inc. *		4,189		154,867
Evercore, Inc., Class A		3,659		300,953
Federated Hermes, Inc.		10,797		357,597


	SHARES		VALUE†
Greenhill & Co., Inc. @		649	$	3,855
Hamilton Lane, Inc. Class A		1,792		106,821
Houlihan Lokey, Inc.		1,002		75,531
Invesco Ltd.		24,055		329,553
Janus Henderson Group PLC		14,636		297,257
Jefferies Financial Group, Inc.		21,621		637,819
Lazard Ltd., Class A		6,742		214,598
LPL Financial Holdings, Inc.		5,475		1,196,178
Manning & Napier, Inc.		2,524		30,969
MarketAxess Holdings, Inc.		630		140,169
Moelis & Co., Class A		3,960		133,888
Morningstar, Inc.		2,847		604,475
Open Lending Corp., Class A *		2,793		22,456
Oppenheimer Holdings, Inc., Class A		1,244		38,539
Piper Sandler Cos.		2,274		238,179
PJT Partners, Inc., Class A		1,422		95,018
Pzena Investment Management, Inc., Class A		2,375		22,515
SEI Investments Co.		4,732		232,105
Silvercrest Asset Management Group, Inc., Class A		759		12,410
Stifel Financial Corp.		9,673		502,125
Stonex Group, Inc. *		2,079		172,432
Victory Capital Holdings, Inc., Class A		982		22,890
Virtu Financial, Inc., Class A		4,501		93,486
Virtus Investment Partners, Inc.		853		136,070
Westwood Holdings Group, Inc.		1,157		11,142
WisdomTree Investments, Inc.		2,100		9,828

				7,708,685

*Chemicals — 2.8%*
AdvanSix, Inc.		3,198		102,656
American Vanguard Corp.		3,554		66,460
Ashland, Inc.		4,043		383,964
Avient Corp.		10,014		303,424
Axalta Coating Systems Ltd. *		16,030		337,592
Balchem Corp.		3,741		454,831
Cabot Corp.		5,463		349,031
CF Industries Holdings, Inc.		2,829		272,291
Chase Corp.		1,129		94,351
Chemours Co. (The)		8,849		218,128
Core Molding Technologies, Inc. *		1,500		14,895
Eastman Chemical Co.		283		20,107
Ecovyst, Inc. *		3,884		32,781
Element Solutions, Inc.		21,963		357,338
FMC Corp.		3,740		395,318
FutureFuel Corp.		4,517		27,283
H.B. Fuller Co.		6,101		366,670
Hawkins, Inc.		2,648		103,246
Huntsman Corp.		12,047		295,633
Ingevity Corp. *		2,004		121,503
Innospec, Inc.		2,704		231,652
Intrepid Potash, Inc. *		1,589		62,877
Koppers Holdings, Inc.		2,308		47,960
Kronos Worldwide, Inc.		4,855		45,346
Livent Corp. *@		7,893		241,920
LSB Industries, Inc. *		1,562		22,259
Mativ Holdings, Inc.		6,136		135,483
Minerals Technologies, Inc.		3,081		152,232
NewMarket Corp.		504		151,618
Olin Corp.		3,715		159,299

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Chemicals (Continued)*
Orion Engineered Carbons SA		3,504	$	46,778
Quaker Chemical Corp.		784		113,194
Rayonier Advanced Materials, Inc. *		3,792		11,945
RPM International, Inc.		6,495		541,098
Scotts Miracle-Gro Co. (The)		3,576		152,874
Sensient Technologies Corp.		4,568		316,745
Stepan Co.		2,418		226,494
Tredegar Corp.		3,412		32,209
Trinseo PLC		3,416		62,581
Tronox Holdings PLC Class A		9,337		114,378
Valvoline, Inc.		6,071		153,839
Westlake Corp.		4,157		361,160

				7,701,443

*Commercial Banks — 10.3%*
1st Source Corp.		2,546		117,880
Allegiance Bancshares, Inc.		1,914		79,680
Amalgamated Financial Corp.		477		10,793
Amerant Bancorp, Inc.		661		16,465
American National Bankshares, Inc.		1,508		48,181
Ameris Bancorp		6,744		301,524
AmeriServ Financial, Inc.		4,400		16,720
Arrow Financial Corp.		2,214		63,792
Associated Banc-Corp.		14,942		300,035
Atlantic Union Bankshares Corp.		6,981		212,083
Banc of California, Inc.		5,994		95,724
Bancfirst Corp.		3,303		295,519
Bancorp, Inc. (The) *		6,121		134,540
Bank of Hawaii Corp.		3,456		263,071
Bank of Marin Bancorp		1,580		47,321
Bank OZK		4,569		180,750
BankFinancial Corp.		2,474		23,404
BankUnited, Inc.		3,310		113,103
Bankwell Financial Group, Inc.		326		9,490
Banner Corp.		3,355		198,213
Bar Harbor Bankshares		2,089		55,400
BCB Bancorp, Inc.		878		14,777
Berkshire Hills Bancorp, Inc.		4,455		121,622
BOK Financial Corp.		5,182		460,473
Brookline Bancorp, Inc.		7,431		86,571
Business First Bancshares, Inc.		553		11,906
Byline Bancorp, Inc.		1,299		26,305
C&F Financial Corp.		466		24,931
Cadence Bank		15,454		392,686
Camden National Corp.		1,756		74,806
Capital City Bank Group, Inc.		1,890		58,798
Carter Bankshares, Inc. *		711		11,447
Cathay General Bancorp		7,259		279,181
CBTX, Inc.		672		19,656
Central Pacific Financial Corp.		3,116		64,470
Central Valley Community Bancorp		1,638		29,009
Citizens & Northern Corp.		852		20,601
Citizens Community Bancorp, Inc.		400		4,868
City Holding Co.		1,686		149,531
Civista Bancshares, Inc.		270		5,605
CNB Financial Corp.		2,264		53,362
Coastal Financial Corp. *		255		10,134
Columbia Banking System, Inc.		7,605		219,708
Comerica, Inc.		7,707		547,968
Commerce Bancshares, Inc.		8,166		540,263
Community Bank System, Inc.		4,718		283,457
Community Trust Bancorp, Inc.		2,206		89,453
Connectone Bancorp, Inc.		4,989		115,046


	SHARES		VALUE†
Cullen/Frost Bankers, Inc.		3,828	$	506,138
Customers Bancorp, Inc. *		4,720		139,146
CVB Financial Corp.		13,166		333,363
Dime Community Bancshares, Inc.		4,460		130,589
Eagle Bancorp, Inc.		3,436		154,002
East West Bancorp, Inc.		9,740		653,944
Enterprise Bancorp, Inc.		331		9,900
Enterprise Financial Services Corp.		2,901		127,760
Equity Bancshares, Inc., Class A		1,470		43,556
Esquire Financial Holdings, Inc.		569		21,366
Farmers & Merchants Bancorp, Inc.		1,205		32,378
Farmers National Banc Corp.		3,991		52,242
FB Financial Corp.		3,274		125,100
Financial Institutions, Inc.		1,855		44,650
First Bancorp		22,823		312,219
First Bancorp, Inc. (The)		1,876		51,684
First Bancorp/Southern Pines NC		3,381		123,677
First Bancshares, Inc. (The)		1,367		40,832
First Busey Corp.		5,571		122,451
First Business Financial Services, Inc.		551		17,803
First Citizens Bancshares, Inc., Class A		875		697,751
First Commonwealth Financial Corp.		9,286		119,232
First Community Bankshares, Inc.		1,982		63,483
First Financial Bancorp		8,992		189,551
First Financial Bankshares, Inc.		14,820		619,921
First Financial Corp.		1,395		63,040
First Financial Northwest, Inc.		2,239		33,227
First Foundation, Inc.		4,921		89,267
First Hawaiian, Inc.		1,200		29,556
First Horizon Corp.		34,954		800,447
First Internet Bancorp		1,284		43,476
First Interstate Bancsystem, Inc., Class A		5,123		206,713
First Merchants Corp.		5,621		217,420
First Mid Bancshares, Inc.		500		15,985
First of Long Island Corp. (The)		2,295		39,566
Flushing Financial Corp.		3,899		75,524
FNB Corp.		22,576		261,882
Fulton Financial Corp.		15,678		247,712
German American Bancorp, Inc.		3,217		114,879
Glacier Bancorp, Inc.		11,842		581,797
Great Southern Bancorp, Inc.		1,501		85,662
Hancock Whitney Corp.		6,503		297,902
Hanmi Financial Corp.		3,586		84,916
Harborone Bancorp, Inc.		6,045		81,124
Heartland Financial USA, Inc.		4,558		197,635
Heritage Commerce Corp.		6,526		74,005
Heritage Financial Corp.		4,162		110,168
Hilltop Holdings, Inc.		6,988		173,652
Home Bancshares, Inc.		13,006		292,765
HomeStreet, Inc.		2,447		70,498
HomeTrust Bancshares, Inc.		2,255		49,836
Hope Bancorp, Inc.		11,541		145,878
Horizon Bancorp, Inc.		5,096		91,524
Independent Bank Corp.		5,005		373,023
Independent Bank Group, Inc.		2,187		134,260
International Bancshares Corp.		5,903		250,878
Lakeland Bancorp, Inc.		5,547		88,807
Lakeland Financial Corp.		3,146		229,060
Live Oak Bancshares, Inc.		847		25,918
Macatawa Bank Corp.		5,141		47,606
Mercantile Bank Corp.		1,601		47,566
Metropolitan Bank Holding Corp. *		321		20,660
Midland States Bancorp, Inc.		1,086		25,597
MidWestOne Financial Group, Inc.		613		16,729
National Bank Holdings Corp., Class A		3,376		124,878

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Commercial Banks (Continued)*
NBT Bancorp, Inc.		4,206	$	159,618
Nicolet Bankshares, Inc. *		1,020		71,849
Northeast Bank		896		32,856
Northrim Bancorp, Inc.		836		34,744
Northwest Bancshares, Inc.		12,344		166,767
OceanFirst Financial Corp.		5,639		105,111
OFG Bancorp		5,852		147,061
Old National Bancorp		28,203		464,503
Old Second Bancorp, Inc.		2,244		29,284
Origin Bancorp, Inc.		1,342		51,627
Pacific Premier Bancorp, Inc.		6,941		214,893
PacWest Bancorp		4,603		104,028
Park National Corp.		1,732		215,599
Pathward Financial, Inc.		3,897		128,445
Peapack Gladstone Financial Corp.		1,992		67,031
Penns Woods Bancorp, Inc.		1,138		26,072
Peoples Bancorp, Inc.		3,204		92,692
Pinnacle Financial Partners, Inc.		3,365		272,902
Popular, Inc.		7,138		514,364
Preferred Bank		1,561		101,824
Premier Financial Corp.		4,193		107,760
Primis Financial Corp.		2,721		33,006
Prosperity Bancshares, Inc.		7,853		523,638
QCR Holdings, Inc.		1,914		97,499
Renasant Corp.		5,355		167,504
Republic Bancorp, Inc., Class A		1,997		76,485
Riverview Bancorp, Inc.		2,557		16,237
S&T Bancorp, Inc.		3,996		117,123
Sandy Spring Bancorp, Inc.		4,282		150,983
Seacoast Banking Corp. of Florida		5,003		151,241
ServisFirst Bancshares, Inc.		5,630		450,400
Sierra Bancorp		2,000		39,500
Silvergate Capital Corp.,Class A *		413		31,120
Simmons First National Corp., Class A		10,791		235,136
South State Corp.		7,217		571,009
Southern First Bancshares, Inc. *		923		38,452
Southside Bancshares, Inc.		3,368		119,093
Stock Yards Bancorp, Inc.		2,936		199,677
Summit Financial Group, Inc.		392		10,560
Synovus Financial Corp.		9,560		358,596
Texas Capital Bancshares, Inc. *		3,132		184,882
Tompkins Financial Corp.		1,559		113,215
Towne Bank		5,809		155,855
Trico Bancshares		2,959		132,119
Triumph Bancorp, Inc. *		2,441		132,668
Trustmark Corp.		5,770		176,735
UMB Financial Corp.		4,960		418,078
Umpqua Holdings Corp.		8,081		138,104
United Bankshares, Inc.		12,088		432,146
United Community Banks, Inc.		8,563		283,435
Univest Financial Corp		3,363		78,963
Valley National Bancorp		37,407		403,996
Veritex Holdings, Inc.		3,570		94,926
Washington Federal, Inc.		6,377		191,182
Washington Trust Bancorp, Inc.		2,001		93,006
Webster Financial Corp.		11,093		501,404
WesBanco, Inc.		6,661		222,278
West Bancorp, Inc.		1,763		36,688
Westamerica Bancorp		2,658		138,987


	SHARES		VALUE†
Western Alliance Bancorp		5,446	$	358,020
Wintrust Financial Corp.		4,936		402,531
Zions Bancorp NA		10,151		516,280

				28,695,885

*Commercial Services & Supplies — 1.7%*
ABM Industries, Inc.		7,749		296,244
ACCO Brands Corp.		11,957		58,589
Brady Corp., Class A		5,019		209,443
Brink’s Co. (The)		4,837		234,304
Casella Waste Systems, Inc., Class A *		6,377		487,139
Ceco Environmental Corp. *		4,211		37,267
Cimpress PLC *		2,367		57,944
Clean Harbors, Inc. *		5,266		579,155
Deluxe Corp.		4,032		67,133
Ennis, Inc.		3,110		62,604
Heritage-Crystal Clean, Inc. *		2,532		74,871
HNI Corp.		3,568		94,588
IAA, Inc. *		7,400		235,690
Interface, Inc.		5,834		52,448
KAR Auction Services, Inc. *		5,924		66,171
Kimball International, Inc., Class B		5,056		31,802
Matthews International Corp., Class A		3,451		77,337
MillerKnoll, Inc.		7,005		109,278
MSA Safety, Inc.		4,156		454,168
NL Industries, Inc.		4,571		35,334
SP Plus Corp. *		2,555		80,023
Steelcase, Inc., Class A		11,344		73,963
Stericycle, Inc. *		4,797		202,002
Tetra Tech, Inc.		6,444		828,247
UniFirst Corp.		1,645		276,738
Virco Manufacturing Corp. *		2,494		10,624
VSE Corp.		1,412		49,985

				4,843,091

*Communications Equipment — 1.4%*
ADTRAN Holdings, Inc.		6,854		134,201
BK Technologies Corp.		2,000		4,820
CalAmp Corp. *		2,187		8,398
Calix, Inc. *		2,654		162,266
Cambium Networks Corp. *		1,078		18,240
Ciena Corp. *		15,659		633,093
Clearfield, Inc. *		2,380		249,043
CommScope Holding Co., Inc. *		9,348		86,095
Comtech Telecommunications Corp.		3,207		32,102
Digi International, Inc. *		3,397		117,434
DZS, Inc. *		1,689		19,086
Extreme Networks, Inc. *		6,499		84,942
F5, Inc. *		3,709		536,804
Harmonic, Inc. *		10,330		135,013
Infinera Corp. *@		7,943		38,444
Juniper Networks, Inc.		19,819		517,672
KVH Industries, Inc. *		2,387		22,008
Lantronix, Inc. *		1,100		5,291
Lumentum Holdings, Inc. *		4,956		339,833
NETGEAR, Inc. *		3,539		70,922
NetScout Systems, Inc. *		8,182		256,260
Optical Cable Corp. *		374		1,290
PC-Tel, Inc.		2,629		12,409
Viasat, Inc. *		4,101		123,973

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Communications Equipment (Continued)*
Viavi Solutions, Inc. *		21,651	$	282,546

				3,892,185

*Computers & Peripherals — 0.4%*
AstroNova, Inc. *		1,572		18,392
Avid Technology, Inc. *		7,133		165,914
Intevac, Inc. *		3,414		15,875
Pure Storage, Inc., Class A *		15,010		410,824
Stratasys Ltd. *		600		8,646
Super Micro Computer, Inc. *		2,778		152,984
Western Digital Corp. *		2,204		71,740
Xerox Holdings Corp.		11,888		155,495

				999,870

*Construction & Engineering — 2.1%*
AECOM		11,954		817,295
Ameresco, Inc., Class A *		4,050		269,244
Arcosa, Inc.		1,853		105,954
Argan, Inc.		985		31,687
Comfort Systems USA, Inc.		4,850		472,050
Dycom Industries, Inc. *		4,084		390,144
EMCOR Group, Inc.		5,995		692,303
Fluor Corp. *@		6,585		163,901
Granite Construction, Inc.		4,358		110,650
Great Lakes Dredge & Dock Corp. *		7,436		56,365
IES Holdings, Inc. *		2,548		70,376
MasTec, Inc. *		6,602		419,227
Matrix Service Co. *		4,086		16,916
MDU Resources Group, Inc.		11,285		308,645
MYR Group, Inc. *		1,935		163,953
Northwest Pipe Co. *		1,211		34,029
NV5 Global, Inc. *		1,843		228,200
Primoris Services Corp.		5,726		93,047
Sterling Infrastructure, Inc. *		3,492		74,973
Tutor Perini Corp. *		3,153		17,405
Valmont Industries, Inc.		2,069		555,775
WillScot Mobile Mini Holdings Corp. *		18,811		758,648

				5,850,787

*Construction Materials — 0.1%*
Eagle Materials, Inc.		1,439		154,232
Summit Materials, Inc., Class A *		4,678		112,085
United States Lime & Minerals, Inc.		949		96,988

				363,305

*Consumer Finance — 0.9%*
Atlanticus Holdings Corp. *		3,144		82,467
Bread Financial Holdings, Inc.		293		9,215
Consumer Portfolio Services, Inc. *		4,988		36,263
Credit Acceptance Corp. *@		760		332,880
Encore Capital Group, Inc. *		3,784		172,096
Enova International, Inc. *		4,283		125,363
Ezcorp, Inc., Class A *		5,994		46,214
FirstCash Holdings, Inc.		4,847		355,527
Green Dot Corp., Class A *		5,205		98,791
LendingClub Corp. *		1,512		16,708
LendingTree, Inc. *		900		21,474
Navient Corp.		17,562		257,986
Nelnet, Inc., Class A		3,245		256,972
OneMain Holdings, Inc.		7,656		226,005
PRA Group, Inc. *		5,417		178,003
PROG Holdings, Inc. *		6,028		90,299
Regional Management Corp.		1,467		41,135
SLM Corp.		14,278		199,749


	SHARES		VALUE†
World Acceptance Corp. *		977		$94,593

				2,641,740

*Containers & Packaging — 1.3%*
AptarGroup, Inc.		5,666		538,440
Berry Global Group, Inc. *		9,609		447,107
Crown Holdings, Inc.		1,875		151,931
Graphic Packaging Holding Co.		8,918		176,041
Greif, Inc., Class A		2,553		152,082
Greif, Inc., Class B		1,193		72,535
Myers Industries, Inc.		4,361		71,826
O-I Glass, Inc. *		5,178		67,055
Packaging Corp. of America		1,324		148,672
Pactiv Evergreen, Inc.		3,303		28,835
Sealed Air Corp.		10,816		481,420
Silgan Holdings, Inc.		12,267		515,705
Sonoco Products Co.		6,744		382,587
Trimas Corp.		5,102		127,907
WestRock Co.		5,218		161,184

				3,523,327

*Distributors — 0.0%*
Weyco Group, Inc.		1,043		21,215

*Diversified Consumer Services — 1.1%*
Adtalem Global Education, Inc. *		5,934		216,294
Bright Horizons Family Solutions, Inc. *		3,373		194,453
Carriage Services, Inc.		2,984		95,965
Chegg, Inc. *		4,193		88,347
European Wax Center, Inc., Class A		583		10,756
Frontdoor, Inc. *		4,679		95,405
Graham Holdings Co., Class B		462		248,547
Grand Canyon Education, Inc. *		3,776		310,576
H&R Block, Inc.		11,646		495,421
Laureate Education, Inc., Class A		2,699		28,474
OneSpaWorld Holdings Ltd. *		2,259		18,976
Perdoceo Education Corp. *		6,976		71,853
Service Corp. International		10,864		627,287
Strategic Education, Inc.		2,650		162,737
Stride, Inc. *		4,184		175,854
Terminix Global Holdings, Inc. *		9,365		358,586

				3,199,531

*Diversified Financial Services — 0.3%*
A-Mark Precious Metals, Inc.		2,332		66,205
Acacia Research Corp. *		1,995		8,060
Cannae Holdings, Inc. *		3,828		79,087
Equitable Holdings, Inc.		2,089		55,045
Jackson Financial, Inc., Class A		1,992		55,278
Voya Financial, Inc.		9,648		583,704

				847,379

*Diversified Telecommunication Services — 0.3%*
Anterix, Inc. *		536		19,146
ATN International, Inc.		2,105		81,190
Cogent Communications Holdings, Inc.		5,536		288,758
Contra Costa Communications CVR *@§¶		354		1,565
EchoStar Corp., Class A *		1,286		21,180
IDT Corp., Class B *		2,980		73,993
Iridium Communications, Inc. *		4,335		192,344
Liberty Latin America Ltd. Class A *		1,600		9,904
Liberty Latin America Ltd., Class C *		8,750		53,813
Ooma, Inc. *		1,297		15,953

				757,846

*Electric Utilities — 1.2%*
Allete, Inc.		6,080		304,304
Genie Energy Ltd. Class B		3,300		30,855

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Electric Utilities (Continued)*
Hawaiian Electric Industries, Inc.		7,162	$	248,235
IDACORP, Inc.		2,837		280,891
MGE Energy, Inc.		3,771		247,491
NRG Energy, Inc.		14,356		549,404
OGE Energy Corp.		10,049		366,387
Otter Tail Corp.		4,597		282,807
Pinnacle West Capital Corp.		5,960		384,480
PNM Resources, Inc.		10,204		466,629
Portland General Electric Co.		5,648		245,462

				3,406,945

*Electrical Equipment — 1.6%*
Acuity Brands, Inc.		2,347		369,582
Allied Motion Technologies, Inc.		1,626		46,536
Atkore, Inc. *		5,678		441,805
AZZ, Inc.		2,809		102,557
Encore Wire Corp.		2,341		270,479
EnerSys		4,742		275,842
Hubbell, Inc.		3,715		828,445
LSI Industries, Inc.		3,137		24,124
nVent Electric PLC		1,295		40,935
Plug Power, Inc. *@		1,062		22,313
Powell Industries, Inc.		1,380		29,090
Preformed Line Products Co.		668		47,528
Regal Rexnord Corp.		7,570		1,062,525
Sensata Technologies Holding PLC		10,094		376,304
Sunrun, Inc. *		6,232		171,941
Thermon Group Holdings, Inc. *		3,577		55,122
Vicor Corp. *		3,445		203,737

				4,368,865

*Electronic Equipment, Instruments & Components — 3.0%*
Advanced Energy Industries, Inc.		4,145		320,864
Arlo Technologies, Inc. *		10,925		50,692
Arrow Electronics, Inc. *		7,096		654,180
Avnet, Inc.		8,026		289,899
Badger Meter, Inc.		3,368		311,170
Bel Fuse, Inc., Class B		1,421		35,880
Belden, Inc.		4,896		293,858
Benchmark Electronics, Inc.		4,604		114,087
Cognex Corp.		4,633		192,038
Coherent Corp. *		5,930		206,661
CTS Corp.		3,954		164,684
ePlus, Inc. *		3,836		159,347
Fabrinet *		4,275		408,049
FARO Technologies, Inc. *		2,298		63,057
Flex Ltd. *		28,069		467,630
Identiv, Inc. *		927		11,625
Insight Enterprises, Inc. *		3,841		316,537
IPG Photonics Corp. *		1,551		130,827
Itron, Inc. *		4,157		175,051
Jabil, Inc.		5,378		310,364
Key Tronic Corp. *		1,700		6,868
Kimball Electronics, Inc. *		2,987		51,227
Knowles Corp. *		6,561		79,847
Littelfuse, Inc.		1,865		370,557
Methode Electronics, Inc.		4,122		153,132
NAPCO Security Technologies, Inc. *		5,355		155,723
National Instruments Corp.		7,611		287,239
Novanta, Inc. *		4,244		490,819


	SHARES		VALUE†
OSI Systems, Inc. *		1,764	$	127,114
PC Connection, Inc.		2,926		131,933
Plexus Corp. *		3,061		268,021
Richardson Electronics Ltd.		1,505		22,726
Rogers Corp. *		2,017		487,872
Sanmina Corp. *		6,551		301,870
Scansource, Inc. *		2,807		74,133
TD SYNNEX Corp.		3,213		260,864
TTM Technologies, Inc. *		10,405		137,138
Vishay Intertechnology, Inc.		11,850		210,812
Vishay Precision Group, Inc. *		1,694		50,125
Vontier Corp.		8,347		139,478
Wayside Technology Group, Inc.		315		8,467

				8,492,465

*Energy Equipment & Services — 0.7%*
Archrock, Inc.		14,462		92,846
Bristow Group, Inc. *		1,579		37,091
Cactus, Inc., Class A		3,486		133,967
ChampionX Corp.		4,720		92,370
DMC Global, Inc. *		390		6,232
Dril-Quip, Inc. *		2,081		40,621
Expro Group Holdings NV *		837		10,663
Exterran Corp. *		3,877		16,128
Helix Energy Solutions Group, Inc. *		3,308		12,769
Helmerich & Payne, Inc.		6,380		235,869
Liberty Energy, Inc., Class A *		7,161		90,802
Nabors Industries Ltd. *		367		37,232
Natural Gas Services Group, Inc. *		2,179		21,877
NexTier Oilfield Solutions, Inc. *		17,336		128,286
Noble Corp. PLC		1,543		45,642
NOV, Inc.		23,731		383,968
Oceaneering International, Inc. *		969		7,713
Patterson-UTI Energy, Inc.		8,600		100,448
ProPetro Holding Corp. *		4,527		36,442
RPC, Inc.		10,242		70,977
SEACOR Marine Holdings, Inc. *		3,233		18,170
TechnipFMC PLC *		9,018		76,292
Tetra Technologies, Inc. *		4,049		14,536
Tidewater, Inc. *		2,014		43,704
Transocean Ltd. *@		16,188		39,984
U.S. Silica Holdings, Inc. *		4,267		46,724
Valaris Ltd. *		1,135		55,547
Weatherford International PLC *		2,581		83,341

				1,980,241

*Entertainment — 0.4%*
Cinemark Holdings, Inc. *		7,484		90,631
Endeavor Group Holdings, Inc., Class A *		3,669		74,334
IMAX Corp. *		4,117		58,132
Liberty Braves Group, Class C *		1,826		50,215
Liberty Media Corp.-Liberty Braves, Class A *@		338		9,515
Liberty Media Corp.-Liberty Formula One, Class C *		7,366		430,911
Lions Gate Entertainment Corp., Class A *		3,637		27,023
Lions Gate Entertainment Corp., Class B *		6,300		43,785
Madison Square Garden Entertainment Corp. *		1,018		44,884
Madison Square Garden Sports Corp. *		156		21,319
Marcus Corp. (The) @		3,100		43,059
Playtika Holding Corp. *@		7,992		75,045

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Entertainment (Continued)*
Sciplay Corp., Class A *		1,456	$	17,122
World Wrestling Entertainment, Inc., Class A		2,566		180,056

				1,166,031

*Food & Staples Retailing — 1.0%*
Andersons, Inc. (The)		4,055		125,827
BJ’s Wholesale Club Holdings, Inc. *		3,430		249,738
Casey’s General Stores, Inc.		2,355		476,935
Chefs’ Warehouse Inc. (The) *		4,636		134,305
Grocery Outlet Holding Corp. *		376		12,517
Ingles Markets, Inc., Class A		1,973		156,281
Natural Grocers by Vitamin Cottage, Inc.		2,710		29,241
Performance Food Group Co. *		9,263		397,846
PriceSmart, Inc.		3,201		184,346
SpartanNash Co.		4,477		129,922
Sprouts Farmers Market, Inc. *		7,149		198,385
United Natural Foods, Inc. *		4,219		145,007
US Foods Holding Corp. *		13,615		359,981
Village Super Market, Inc., Class A		1,435		27,738
Weis Markets, Inc.		2,943		209,659

				2,837,728

*Food Products — 1.9%*
B&G Foods, Inc.		8,145		134,311
Bunge Ltd.		682		56,313
Cal-Maine Foods, Inc.		5,021		279,117
Calavo Growers, Inc.		2,189		69,501
Darling Ingredients, Inc. *		19,384		1,282,252
Flowers Foods, Inc.		10,685		263,813
Fresh Del Monte Produce, Inc.		5,010		116,432
Hain Celestial Group, Inc. (The) *		1,695		28,612
Hostess Brands, Inc. *		4,664		108,391
Ingredion, Inc.		3,754		302,272
J&J Snack Foods Corp.		2,148		278,101
John B. Sanfilippo & Son, Inc.		1,112		84,212
Lamb Weston Holdings, Inc.		8,392		649,373
Lancaster Colony Corp.		2,908		437,014
Landec Corp. *		3,872		34,422
Lifeway Foods, Inc. *		1,756		10,044
Limoneira Co.		2,072		27,309
Pilgrim’s Pride Corp. *		5,624		129,464
Post Holdings, Inc. *		4,776		391,202
Seaboard Corp.		42		142,912
Seneca Foods Corp., Class A *		800		40,352
Simply Good Foods Co. (The) *		3,733		119,419
Tootsie Roll Industries, Inc.		4,999		166,367
TreeHouse Foods, Inc. *		2,590		109,868
Vital Farms, Inc. *		1,570		18,793

				5,279,866

*Gas Utilities — 0.9%*
Chesapeake Utilities Corp.		2,106		243,011
National Fuel Gas Co.		4,000		246,200
New Jersey Resources Corp.		9,687		374,887
Northwest Natural Holding Co.		3,354		145,497
ONE Gas, Inc.		5,011		352,724
RGC Resources, Inc.		600		12,636
South Jersey Industries, Inc.		10,442		348,972
Southwest Gas Holdings, Inc.		4,019		280,325
Spire, Inc.		4,808		299,683
UGI Corp.		10,146		328,020

				2,631,955


	SHARES		VALUE†
*Health Care — 0.0%*
Contra Aduro Biotech *§		237	$	365

*Health Care Equipment & Supplies — 2.8%*
Abiomed, Inc. *		90		22,109
Accuray, Inc. *@		10,241		21,301
Achillion Pharmaceuticals, Inc. *@§		23,152		—
Angiodynamics, Inc. *		4,953		101,338
Artivion, Inc. *		5,028		69,588
AtriCure, Inc. *		3,895		152,295
Atrion Corp.		201		113,565
Avanos Medical, Inc. *		4,019		87,534
Axonics, Inc. *		2,988		210,475
Cardiovascular Systems, Inc. *		1,484		20,568
CONMED Corp.		2,255		180,783
Cutera, Inc. *@		1,969		89,786
Dentsply Sirona, Inc.		8,909		252,570
Electromed, Inc. *		2,175		22,294
Embecta Corp.		1,022		29,423
Enovis Corp. *		2,937		135,308
Envista Holdings Corp. *		11,739		385,157
Figs, Inc., Class A *@		2,862		23,612
Fonar Corp. *		1,282		18,140
Glaukos Corp. *		2,946		156,845
Globus Medical, Inc., Class A *		5,734		341,574
Haemonetics Corp. *		5,164		382,291
Heska Corp. *		880		64,170
ICU Medical, Inc. *		97		14,608
Inogen, Inc. *		1,706		41,422
Integer Holdings Corp. *		3,152		196,149
Integra LifeSciences Holdings Corp. *		6,371		269,876
Invacare Corp. *@		974		760
iRadimed Corp.		325		9,770
Lantheus Holdings, Inc. *		7,277		511,791
LeMaitre Vascular, Inc.		2,735		138,610
LENSAR, Inc. *		1,385		7,687
LivaNova PLC *		3,953		200,694
Masimo Corp. *		1,950		275,262
Meridian Bioscience, Inc. *		4,782		150,777
Merit Medical Systems, Inc. *		5,761		325,554
Mesa Laboratories, Inc.		188		26,476
Neogen Corp. *		10,822		151,183
Novocure Ltd. *		829		62,987
NuVasive, Inc. *		5,261		230,484
Omnicell, Inc. *		4,593		399,729
OraSure Technologies, Inc. *		9,521		36,085
Orthofix Medical, Inc. *		558		10,663
OrthoPediatrics Corp. *		1,252		57,767
Penumbra, Inc. *		2,652		502,819
Pulmonx Corp. *@		667		11,112
QuidelOrtho Corp. *		965		68,978
SeaSpine Holdings Corp. *		2,964		16,836
Shockwave Medical, Inc. *		2,116		588,396
STAAR Surgical Co. *		2,426		171,154
SurModics, Inc. *		1,788		54,355
Teleflex, Inc.		358		72,123
TransMedics Group, Inc. *		1,354		56,516
UFP Technologies, Inc. *		913		78,372
Utah Medical Products, Inc.		630		53,745
Varex Imaging Corp. *@		2,200		46,508

				7,719,974

*Health Care Providers & Services — 3.4%*
Acadia Healthcare Co., Inc. *		8,543		667,892
Addus HomeCare Corp. *		1,648		156,955
Agiliti, Inc. *@		3,373		48,268

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Health Care Providers & Services (Continued)*
Amedisys, Inc. *		3,653	$	353,574
AMN Healthcare Services, Inc. *		5,001		529,906
Apollo Medical Holdings, Inc. *@		3,702		144,378
Brookdale Senior Living, Inc. *		16,230		69,302
Castle Biosciences, Inc. *		883		23,029
Chemed Corp.		1,565		683,216
Corvel Corp. *		2,837		392,726
Cross Country Healthcare, Inc. *		5,512		156,375
DaVita, Inc. *		8,508		704,207
Encompass Health Corp.		6,968		315,163
Enhabit, Inc. *		3,708		52,060
Ensign Group, Inc. (The)		6,774		538,533
Enzo Biochem, Inc. *		6,609		14,738
Fulgent Genetics, Inc. *		1,205		45,935
Hanger, Inc. *		2,058		38,526
HealthEquity, Inc. *		5,161		346,664
Henry Schein, Inc. *		10,880		715,577
Joint Corp. (The) *		1,139		17,894
LHC Group, Inc. *		3,259		533,368
ModivCare, Inc. *		1,383		137,857
National Healthcare Corp.		1,582		100,204
National Research Corp.		2,987		118,883
Option Care Health, Inc. *		5,361		168,711
Owens & Minor, Inc.		7,179		173,014
Patterson Cos., Inc.		6,230		149,645
Pediatrix Medical Group, Inc. *		4,871		80,420
Pennant Group, Inc. (The) *		3,997		41,609
Premier, Inc., Class A		5,911		200,619
R1 RCM, Inc. *		20,856		386,462
RadNet, Inc. *		5,402		109,931
Select Medical Holdings Corp.		12,138		268,250
Surgery Partners, Inc. *@		5,031		117,725
Tenet Healthcare Corp. *		11,198		577,593
U.S. Physical Therapy, Inc.		1,511		114,866
Universal Health Services, Inc., Class B		3,730		328,911

				9,622,986

*Health Care Technology — 0.3%*
Allscripts Healthcare Solutions, Inc. *		14,834		225,922
Certara, Inc. *		4,758		63,186
Computer Programs & Systems, Inc. *		1,636		45,612
Doximity, Inc., Class A *@		2,443		73,827
Evolent Health, Inc., Class A *		5,196		186,692
HealthStream, Inc. *		3,803		80,852
NextGen Healthcare, Inc. *		6,391		113,121
Phreesia, Inc. *		615		15,670
Schrodinger, Inc. *		2,526		63,099
Simulations Plus, Inc.		1,218		59,122

				927,103

*Hotels, Restaurants & Leisure — 3.0%*
Aramark		20,945		653,484
Biglari Holdings, Inc., Class A *		7		4,121
Biglari Holdings, Inc., Class B *		74		8,554
BJ’s Restaurants, Inc. *		2,751		65,611
Bloomin’ Brands, Inc.		8,154		149,463
Bluegreen Vacations Holding Corp.		1,017		16,801
Boyd Gaming Corp.		1,865		88,867
Brinker International, Inc. *		5,679		141,861
Caesars Entertainment, Inc. *		531		17,130


	SHARES		VALUE†
Carnival Corp. *@		4,641	$	32,626
Cheesecake Factory, Inc. (The)		5,035		147,425
Choice Hotels International, Inc.		6,024		659,749
Churchill Downs, Inc.		3,811		701,796
Chuy’s Holdings, Inc. *		1,904		44,135
Cracker Barrel Old Country Store, Inc. @		2,324		215,156
Dave & Buster’s Entertainment, Inc. *		4,530		140,566
Denny’s Corp. *		4,694		44,171
DineEquity, Inc.		226		14,365
Domino’s Pizza, Inc.		197		61,109
DraftKings, Inc. Class A *		3,043		46,071
El Pollo Loco Holdings, Inc. *		4,284		38,213
Everi Holdings, Inc. *		4,400		71,368
Fiesta Restaurant Group, Inc. *		4,058		25,728
Hyatt Hotels Corp., Class A *		811		65,659
International Game Technology PLC @		969		15,310
Jack in the Box, Inc. @		3,000		222,210
Light & Wonder, Inc., Class A *		1,500		64,320
Marriott Vacations Worldwide Corp.		5,154		628,067
Monarch Casino & Resort, Inc. *		1,490		83,649
Nathan’s Famous, Inc.		794		50,554
Papa John’s International, Inc.		4,290		300,343
Penn Entertainment, Inc. *		2,608		71,746
Planet Fitness, Inc. Class A *		8,887		512,424
Playa Hotels & Resorts NV *		1,000		5,820
Royal Caribbean Cruises Ltd. *		1,058		40,098
Ruth’s Hospitality Group, Inc.		2,754		46,432
SeaWorld Entertainment, Inc. *		4,795		218,221
Shake Shack, Inc., Class A *		2,266		101,925
Six Flags Entertainment Corp. *@		3,483		61,649
Texas Roadhouse, Inc.		6,983		609,337
Travel + Leisure Co.		3,770		128,632
Vail Resorts, Inc.		2,071		446,590
Wendy’s Co. (The)		22,109		413,217
Wingstop, Inc.		1,286		161,290
Wyndham Hotels & Resorts, Inc.		5,481		336,259
Wynn Resorts Ltd. *@		4,811		303,237

				8,275,359

*Household Durables — 1.9%*
Bassett Furniture Industries, Inc.		1,080		16,934
Beazer Homes USA, Inc. *		1,643		15,888
Cavco Industries, Inc. *		986		202,879
Century Communities, Inc.		3,674		157,174
Ethan Allen Interiors, Inc.		2,598		54,922
Flexsteel Industries, Inc.		1,069		16,783
GoPro, Inc., Class A *		6,985		34,436
Green Brick Partners, Inc. *		4,024		86,033
Hamilton Beach Brands Holding Co., Class A		2,000		23,340
Helen of Troy Ltd. *		2,629		253,541
Hooker Furnishings Corp.		1,742		23,500
Installed Building Products, Inc.		3,050		247,019
iRobot Corp. *		3,109		175,130
KB Home		7,849		203,446
La-Z-Boy, Inc.		4,321		97,525
Leggett & Platt, Inc.		8,008		266,026
LGI Homes, Inc. *		624		50,775
Lifetime Brands, Inc.		3,200		21,664
M.D.C. Holdings, Inc.		6,276		172,088
M/I Homes, Inc. *		3,074		111,371

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Household Durables (Continued)*
Meritage Homes Corp. *		3,491	$	245,313
Mohawk Industries, Inc. *		3,847		350,808
Newell Brands, Inc.		27,926		387,892
Orleans Homebuilders, Inc. *@§		4,953		—
Skyline Champion Corp. *		2,566		135,664
Sonos, Inc. *		2,051		28,509
Taylor Morrison Home Corp. *		9,778		228,023
Tempur Sealy International, Inc.		19,486		470,392
Toll Brothers, Inc.		10,507		441,294
TopBuild Corp. *		3,486		574,423
TRI Pointe Homes, Inc. *		12,577		190,038
Universal Electronics, Inc. *		1,292		25,414
VOXX International Corp. *		3,284		24,991

				5,333,235

*Household Products — 0.2%*
Central Garden & Pet Co. *		1,247		44,942
Central Garden & Pet Co., Class A *		4,555		155,599
Energizer Holdings, Inc.		3,375		84,847
Spectrum Brands Holdings, Inc.		2,858		111,548
WD-40 Co. @		1,589		279,251

				676,187

*Independent Power Producers & Energy Traders — 0.6%*
Atlantica Sustainable Infrastructure PLC		1,800		47,340
Brookfield Renewable Corp. Class A		2,097		68,530
Clearway Energy, Inc., Class A		3,716		108,136
Clearway Energy, Inc., Class C		9,495		302,416
Ormat Technologies, Inc. @		5,451		469,876
Sunnova Energy International, Inc. *		6,655		146,942
Vistra Corp.		28,253		593,313

				1,736,553

*Insurance — 4.4%*
Alleghany Corp. *		781		655,548
Ambac Financial Group, Inc. *		900		11,475
American Equity Investment Life Holding Co.		10,429		388,897
American Financial Group, Inc.		6,162		757,495
AMERISAFE, Inc.		1,961		91,638
Argo Group International Holdings Ltd.		3,856		74,267
Assurant, Inc.		4,350		631,924
Assured Guaranty Ltd.		4,657		225,632
Axis Capital Holdings Ltd.		4,830		237,395
Brighthouse Financial, Inc. *		5,115		222,093
BRP Group, Inc., Class A *		3,130		82,476
Citizens, Inc. *		6,126		20,461
CNO Financial Group, Inc.		10,476		188,254
Crawford & Co., Class A		5,638		32,362
Crawford & Co., Class B		3,345		17,561
Donegal Group, Inc., Class A		3,630		48,969
eHealth, Inc. *		3,214		12,567
Employers Holdings, Inc.		2,665		91,916
Enstar Group Ltd. *		1,195		202,660
Erie Indemnity Co., Class A		1,600		355,696
Everest Re Group Ltd.		2,558		671,322
Fidelity National Financial, Inc.		12,902		467,052
First American Financial Corp.		7,508		346,119
Genworth Financial, Inc., Class A *		14,918		52,213
Global Indemnity Group LLC Class A		2,287		50,474
Globe Life, Inc.		5,598		558,121
Hanover Insurance Group, Inc. (The)		2,145		274,860
HCI Group, Inc. @		1,239		48,569
Horace Mann Educators Corp.		4,392		154,994


	SHARES		VALUE†
Investors Title Co.		279	$	39,339
James River Group Holdings Ltd.		829		18,909
Kemper Corp.		5,843		241,082
Kinsale Capital Group, Inc.		808		206,379
Lincoln National Corp.		8,515		373,894
MBIA, Inc. *		9,889		90,979
Mercury General Corp.		5,031		142,981
Old Republic International Corp.		20,327		425,444
Oscar Health, Inc., Class A *		3,732		18,623
Palomar Holdings, Inc. *		1,593		133,366
Primerica, Inc.		4,105		506,762
Reinsurance Group of America, Inc.		3,019		379,820
RenaissanceRe Holdings Ltd.		2,896		406,569
RLI Corp.		5,024		514,357
Safety Insurance Group, Inc.		1,656		135,063
Selective Insurance Group, Inc.		6,118		498,005
Stewart Information Services Corp.		3,069		133,931
Unico American Corp. *		1,700		2,023
United Fire Group, Inc.		2,400		68,952
Universal Insurance Holdings, Inc.		4,293		42,286
Unum Group		14,680		569,584
White Mountains Insurance Group Ltd.		170		221,513

				12,142,871

*Interactive Media & Services — 0.3%*
Angi, Inc. *		2,836		8,366
Cargurus, Inc. *		4,246		60,166
Cars.com, Inc. *		3,931		45,206
DHI Group, Inc. *		8,881		47,780
QuinStreet, Inc. *		3,180		33,390
Shutterstock, Inc.		2,721		136,513
Travelzoo *		1,588		7,035
TripAdvisor, Inc. *		4,226		93,310
Yelp, Inc. *		3,472		117,736
Ziff Davis, Inc. *		2,996		205,166
Zillow Group, Inc., Class A *		1,513		43,317
Zillow Group, Inc., Class C *@		4,328		123,824

				921,809

*Internet & Catalog Retail — 0.1%*
1-800-Flowers.com, Inc., Class A *		3,880		25,181
Duluth Holdings, Inc., Class B *		1,185		8,343
Liquidity Services, Inc. *		4,207		68,406
PetMed Express, Inc.		2,360		46,067
Qurate Retail, Inc., Series A		15,608		31,372
Revolve Group, Inc. *@		706		15,313

				194,682

*IT Services — 2.1%*
Amdocs Ltd.		5,665		450,084
BM Technologies, Inc. *		823		5,506
Cass Information Systems, Inc.		1,788		62,026
Computer Task Group, Inc. *		4,027		26,981
Concentrix Corp.		3,341		372,956
Conduent, Inc. *		5,702		19,045
CSG Systems International, Inc.		4,225		223,418
DXC Technology Co. *		10,737		262,842
Edgio, Inc. *		15,146		42,106
Euronet Worldwide, Inc. *		2,789		211,295
EVERTEC, Inc.		4,311		135,150
Evo Payments, Inc., Class A *		1,928		64,202
ExlService Holdings, Inc. *		3,892		573,525
Flywire Corp. *		4,301		98,751
Genpact Ltd.		12,745		557,849
Globant SA *		1,874		350,588
GoDaddy, Inc., Class A *		8,025		568,812
Grid Dynamics Holdings, Inc. *		4,703		88,087

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*IT Services (Continued)*
Hackett Group, Inc. (The)		4,098	$	72,616
I3 Verticals, Inc., Class A *		502		10,055
International Money Express, Inc. *		1,977		45,056
Kyndryl Holdings, Inc. *		2,623		21,692
Marqeta, Inc., Class A *		1,798		12,802
Maximus, Inc.		2,874		166,318
MoneyGram International, Inc. *		131		1,362
Paya Holdings, Inc. *		1,733		10,589
Perficient, Inc. *		4,602		299,222
PFSweb, Inc. *		3,727		34,736
Shift4 Payments, Inc., Class A *		2,348		104,744
SolarWinds Corp. *		2,568		19,902
Switch, Inc., Class A		777		26,177
TTEC Holdings, Inc.		4,929		218,404
Unisys Corp. *		700		5,285
Verra Mobility Corp. *		8,704		133,780
Western Union Co. (The)		12,000		162,000
WEX, Inc. *		2,575		326,870

				5,784,833

*Leisure Equipment & Products — 0.6%*
American Outdoor Brands, Inc. *		1,946		17,066
Brunswick Corp.		4,070		266,381
Escalade, Inc.		1,950		19,402
Hasbro, Inc.		3,528		237,858
Johnson Outdoors, Inc., Class A		1,000		51,310
Malibu Boats, Inc., Class A *		2,116		101,547
Marine Products Corp.		3,930		33,248
MasterCraft Boat Holdings, Inc. *		2,183		41,150
Mattel, Inc. *		16,916		320,389
Nautilus, Inc. *		2,812		4,584
Polaris, Inc.		3,530		337,644
Smith & Wesson Brands, Inc.		4,598		47,681
Topgolf Callaway Brands Corp. *		4,593		88,461
Vista Outdoor, Inc. *		4,383		106,595
YETI Holdings, Inc. *		1,234		35,194

				1,708,510

*Life Sciences Tools & Services — 0.8%*
Adaptive Biotechnologies Corp. *		4,578		32,595
Azenta, Inc.		937		40,160
Bruker Corp.		10,230		542,804
Charles River Laboratories International, Inc. *		527		103,714
CryoPort, Inc. *		2,497		60,827
Harvard Bioscience, Inc. *		5,522		14,136
Medpace Holdings, Inc. *		2,141		336,501
NeoGenomics, Inc. *		5,114		44,031
Repligen Corp. *		4,248		794,843
Sotera Health Co. *		7,130		48,627
Syneos Health, Inc. *		7,400		348,910

				2,367,148

*Machinery — 4.6%*
AGCO Corp.		5,729		550,958
Alamo Group, Inc.		1,320		161,396
Albany International Corp., Class A		3,573		281,660
Allison Transmission Holdings, Inc.		6,647		224,403
Altra Industrial Motion Corp.		2,666		89,631
Astec Industries, Inc.		1,967		61,351


	SHARES		VALUE†
Barnes Group, Inc.		4,989	$	144,082
Blue Bird Corp. *@		662		5,528
Chart Industries, Inc. *@		3,344		616,466
CIRCOR International, Inc. *		2,600		42,874
Columbus McKinnon Corp.		2,642		69,115
Commercial Vehicle Group, Inc. *		3,758		16,911
Crane Holdings Co.		3,089		270,411
Donaldson Co., Inc.		8,206		402,176
Douglas Dynamics, Inc.		2,507		70,246
Eastern Co. (The)		1,272		22,069
Enerpac Tool Group Corp.		6,499		115,877
EnPro Industries, Inc.		2,344		199,193
Esab Corp.		418		13,944
ESCO Technologies, Inc.		2,646		194,322
Federal Signal Corp.		5,985		223,360
Flowserve Corp.		5,054		122,812
Franklin Electric Co., Inc.		5,666		462,969
Gorman-Rupp Co. (The)		3,803		90,473
Graco, Inc.		10,654		638,707
Graham Corp.		1,759		15,462
Greenbrier Cos., Inc. (The)		3,984		96,692
Helios Technologies, Inc.		3,760		190,256
Hurco Cos., Inc.		1,000		22,480
Hyster-Yale Materials Handling, Inc.		1,765		37,965
ITT, Inc.		5,131		335,260
John Bean Technologies Corp.		3,520		302,720
Kadant, Inc.		1,660		276,905
Kennametal, Inc.		6,340		130,477
LB Foster Co., Class A *		2,165		21,130
Lincoln Electric Holdings, Inc.		3,365		423,048
Lindsay Corp.		1,209		173,226
Manitex International, Inc. *		1,300		7,449
Manitowoc Co., Inc. (The) *		3,607		27,954
Middleby Corp. (The) *		4,055		519,729
Miller Industries, Inc.		1,261		26,847
Mueller Industries, Inc.		6,958		413,584
Mueller Water Products, Inc., Class A		16,726		171,776
Nordson Corp.		2,976		631,716
Omega Flex, Inc. @		1,002		92,805
Oshkosh Corp.		4,130		290,298
Park-Ohio Holdings Corp.		2,182		24,678
Pentair PLC		11,013		447,458
Perma-Pipe International Holdings, Inc. *		1,900		17,955
RBC Bearings, Inc. *		336		69,824
Shyft Group, Inc. (The)		3,913		79,943
Snap-On, Inc.		1,600		322,160
SPX Technologies, Inc. *		4,956		273,670
Standex International Corp.		1,427		116,515
Tennant Co.		2,037		115,213
Terex Corp.		6,869		204,284
Timken Co. (The)		6,902		407,494
Titan International, Inc. *		7,879		95,651
Toro Co. (The)		7,421		641,768
Trinity Industries, Inc.		4,908		104,786
Wabash National Corp.		6,446		100,300
Watts Water Technologies, Inc., Class A		3,406		428,236

				12,748,648

*Marine — 0.2%*
Costamare, Inc.		5,728		51,266
Eagle Bulk Shipping, Inc. @		436		18,827

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Marine (Continued)*
Kirby Corp. *		4,368	$	265,443
Matson, Inc.		5,291		325,502

				661,038

*Media — 1.2%*
Altice USA, Inc., Class A *		21,205		123,625
AMC Networks, Inc., Class A *		880		17,864
Boston Omaha Corp., Class A *		789		18,179
Cable One, Inc.		397		338,661
DISH Network Corp., Class A *		4,087		56,523
Entravision Communications Corp., Class A		5,678		22,542
EW Scripps Co. (The), Class A *		7,073		79,713
Gannett Co., Inc. *		1		2
Gray Television, Inc.		8,433		120,761
iHeartMedia, Inc., Class A *		2,052		15,041
Interpublic Group of Cos., Inc. (The)		16,227		415,411
John Wiley & Sons, Inc., Class A		2,818		105,844
Loyalty Ventures, Inc. *@		889		1,076
New York Times Co. (The), Class A		18,114		520,777
News Corp., Class A		19,977		301,852
News Corp., Class B		7,188		110,839
Nexstar Media Group, Inc. Class A		4,189		698,935
PubMatic, Inc., Class A *		764		12,705
Saga Communications, Inc., Class A		664		17,364
Scholastic Corp.		3,519		108,244
Sinclair Broadcast Group, Inc., Class A		2,132		38,568
TechTarget, Inc. *		3,517		208,206
Thryv Holdings, Inc. *		855		19,520
WideOpenWest, Inc. *		4,405		54,049

				3,406,301

*Metals & Mining — 2.1%*
Alcoa Corp.		16,066		540,782
Alpha Metallurgical Resources, Inc.		550		75,262
Arconic Corp. *		2,519		42,924
ATI, Inc. *		14,726		391,859
Carpenter Technology Corp.		3,912		121,820
Century Aluminum Co. *		8,912		47,055
Cleveland-Cliffs, Inc. *		21,519		289,861
Coeur Mining, Inc. *		9,190		31,430
Commercial Metals Co.		13,236		469,613
Compass Minerals International, Inc.		620		23,889
Ferroglobe PLC *		6,755		35,666
Ferroglobe Representation & Warranty Insurance Trust *§		24,025		—
Fortitude Gold Corp.		4,671		25,831
Friedman Industries, Inc.		700		4,977
Haynes International, Inc.		1,229		43,162
Hecla Mining Co.		30,869		121,624
Kaiser Aluminum Corp.		2,372		145,522
Materion Corp.		2,319		185,520
MP Materials Corp. *		4,280		116,844
Olympic Steel, Inc.		1,200		27,372
Reliance Steel & Aluminum Co.		5,864		1,022,740
Royal Gold, Inc.		4,388		411,682
Ryerson Holding Corp.		5,114		131,634
Schnitzer Steel Industries, Inc., Class A		2,809		79,944
Steel Dynamics, Inc.		14,567		1,033,529
SunCoke Energy, Inc.		8,204		47,665
TimkenSteel Corp. *		5,303		79,492
United States Steel Corp.		11,074		200,661
Warrior Met Coal, Inc.		738		20,989


	SHARES		VALUE†
Worthington Industries, Inc.		4,458	$	170,028

				5,939,377

*Multi-Utilities — 0.5%*
Avista Corp.		6,896		255,497
Black Hills Corp.		6,023		407,938
NiSource, Inc.		18,689		470,776
NorthWestern Corp.		4,148		204,413
Unitil Corp.		1,923		89,323

				1,427,947

*Multiline Retail — 0.4%*
Big Lots, Inc. @		2,922		45,613
Dillard’s, Inc., Class A		1,103		300,854
Franchise Group, Inc. @		610		14,823
Kohl’s Corp.		8,435		212,140
Macy’s, Inc.		19,449		304,766
Nordstrom, Inc. @		2,914		48,751
Ollie’s Bargain Outlet Holdings, Inc. *		3,753		193,655

				1,120,602

*Oil, Gas & Consumable Fuels — 3.4%*
Adams Resources & Energy, Inc.		536		15,973
Alto Ingredients, Inc. *		5,761		20,970
Amplify Energy Corp. *		1,867		12,266
Antero Midstream Corp.		21,664		198,876
Antero Resources Corp. *		2,945		89,911
APA Corp.		13,841		473,224
Arch Resources, Inc.		1,708		202,569
Ardmore Shipping Corp. *		1,612		14,718
Berry Corp.		4,166		31,245
Brigham Minerals, Inc., Class A		2,113		52,128
California Resources Corp.		3,020		116,059
Callon Petroleum Co. *		3,157		110,527
Centrus Energy Corp. Class A *		400		16,392
Chesapeake Energy Corp. @		4,468		420,930
Chord Energy Corp.		804		109,963
Civitas Resources, Inc.		1,752		100,547
Clean Energy Fuels Corp. *		20,279		108,290
CNX Resources Corp. *		16,780		260,593
Comstock Resources, Inc. *		8,329		144,008
CONSOL Energy, Inc.		2,376		152,824
CVR Energy, Inc.		2,454		71,117
Delek US Holdings, Inc.		7,082		192,205
Denbury, Inc. *		1,548		133,530
DHT Holdings, Inc.		11,638		87,983
Dorian LPG Ltd.		3,332		45,215
Earthstone Energy, Inc., Class A *@		6,835		84,207
EnLink Midstream LLC		27,038		240,368
EQT Corp.		16,054		654,200
Equitrans Midstream Corp.		13,839		103,516
Evolution Petroleum Corp.		5,356		37,278
Green Plains, Inc. *		5,096		148,141
Gulfport Energy Corp. *		707		62,421
HF Sinclair Corp.		9,611		517,456
International Seaways, Inc.		4,383		153,975
Kosmos Energy Ltd. *		18,274		94,477
Laredo Petroleum, Inc. *		578		36,327
Magnolia Oil & Gas Corp., Class A		7,613		150,814
Matador Resources Co.		10,827		529,657
Murphy Oil Corp.		13,521		475,534
NACCO Industries, Inc., Class A		1,000		47,030
New Fortress Energy, Inc.		3,932		171,868
Northern Oil and Gas, Inc.		1,306		35,797
Overseas Shipholding Group, Inc., Class A *		11,837		35,156
Ovintiv, Inc.		255		11,730

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Oil, Gas & Consumable Fuels (Continued)*
Par Pacific Holdings, Inc. *		4,135	$	67,855
PBF Energy, Inc., Class A *		10,429		366,684
PDC Energy, Inc.		8,838		510,748
Peabody Energy Corp. *@		3,580		88,856
Permian Resources Corp., Class A *		14,045		95,506
Range Resources Corp.		10,825		273,439
Rex American Resources Corp. *		2,364		66,003
SandRidge Energy, Inc. *		2,175		35,474
Scorpio Tankers, Inc.		4,277		179,805
SFL Corp. Ltd.		10,975		99,982
SM Energy Co.		2,124		79,884
Southwestern Energy Co. *		62,679		383,595
Talos Energy, Inc. *		3,212		53,480
Teekay Tankers Ltd., Class A *		1,197		32,965
Texas Pacific Land Corp.		152		270,139
W&T Offshore, Inc. *		6,591		38,623
World Fuel Services Corp.		4,796		112,418

				9,527,471

*Paper & Forest Products — 0.3%*
Clearwater Paper Corp. *		1,838		69,109
Glatfelter Corp.		4,665		14,508
Louisiana-Pacific Corp.		10,788		552,238
Mercer International, Inc.		7,857		96,641
Resolute Forest Products, Inc. *		7,629		152,580
Sylvamo Corp.		1,229		41,663

				926,739

*Personal Products — 0.5%*
BellRing Brands, Inc. *		6,987		144,002
Coty, Inc., Class A *		43,703		276,203
Edgewell Personal Care Co.		3,865		144,551
elf Beauty, Inc. *		2,995		112,672
Herbalife Nutrition Ltd. *		5,137		102,175
Inter Parfums, Inc.		3,888		293,389
Medifast, Inc.		1,490		161,456
Natural Alternatives International, Inc. *		1,000		9,270
Nature’s Sunshine Products, Inc. *		1,700		14,008
Nu Skin Enterprises, Inc., Class A		3,817		127,373
United-Guardian, Inc.		600		6,816
USANA Health Sciences, Inc. *		2,205		123,590

				1,515,505

*Pharmaceuticals — 1.0%*
Amneal Pharmaceuticals, Inc. *		7,273		14,692
Amphastar Pharmaceuticals, Inc. *		5,670		159,327
ANI Pharmaceuticals, Inc. *		1,305		41,943
Cara Therapeutics, Inc. *@		2,304		21,565
Collegium Pharmaceutical, Inc. *		1,890		30,278
Contra Zogenix, Inc. @*§		3,347		1,707
Corcept Therapeutics, Inc. *		7,059		180,993
Cumberland Pharmaceuticals, Inc. *		5,912		14,248
Cymabay Therapeutics, Inc. *		2,700		9,450
Edgewise Therapeutics, Inc. *		1,162		11,434
Elanco Animal Health, Inc. *		12,367		153,475
Harmony Biosciences Holdings, Inc. *		2,707		119,893
Innoviva, Inc. *		5,963		69,230
Intra-Cellular Therapies, Inc. *		4,163		193,704
Jazz Pharmaceuticals PLC *		4,329		577,012
Organon & Co.		7,250		169,650


	SHARES		VALUE†
Pacira BioSciences, Inc. *		2,517	$	133,879
Perrigo Co. PLC		12,427		443,147
Prestige Consumer Healthcare, Inc. *		6,078		302,867
SIGA Technologies, Inc.		1,900		19,570
Supernus Pharmaceuticals, Inc. *		5,158		174,598
Taro Pharmaceutical Industries Ltd. *		782		23,444

				2,866,106

*Professional Services — 2.7%*
ASGN, Inc. *		5,882		531,556
Barrett Business Services, Inc.		935		72,930
Booz Allen Hamilton Holding Corp.		2,134		197,075
CACI International, Inc., Class A *		2,530		660,482
CBIZ, Inc. *		6,173		264,081
CRA International, Inc.		773		68,596
Exponent, Inc.		5,886		516,026
Forrester Research, Inc. *		2,360		84,984
Franklin Covey Co. *		2,254		102,309
FTI Consulting, Inc. *		3,703		613,624
Heidrick & Struggles International, Inc.		1,928		50,109
Huron Consulting Group, Inc. *		2,643		175,099
ICF International, Inc.		2,012		219,348
Insperity, Inc.		4,545		463,999
KBR, Inc.		14,771		638,403
Kelly Services, Inc., Class A		3,132		42,564
Kforce, Inc.		3,397		199,234
Korn Ferry		5,760		270,432
Manpowergroup, Inc.		3,514		227,321
Mastech Digital, Inc. *		2,122		31,342
Mistras Group, Inc. *		3,084		13,755
Nielsen Holdings PLC		18,993		526,486
RCM Technologies, Inc. *		2,995		49,986
Resources Connection, Inc.		3,396		61,366
Robert Half International, Inc.		7,950		608,175
Science Applications International Corp.		2,559		226,292
TriNet Group, Inc. *		7,048		501,958
TrueBlue, Inc. *		3,431		65,463

				7,482,995

*Real Estate Investment Trusts (REITs) — 0.0%*
Contra Zagg, Inc. *§		6,699		—

*Real Estate Management & Development — 0.6%*
Cushman & Wakefield PLC *		5,956		68,196
Douglas Elliman, Inc.		3,838		15,736
Forestar Group, Inc. *		1,150		12,868
Howard Hughes Corp. (The) *		1,942		107,567
Jones Lang LaSalle, Inc. *		3,879		586,001
Kennedy-Wilson Holdings, Inc.		13,722		212,142
Marcus & Millichap, Inc.		3,263		106,961
Maui Land & Pineapple Co., Inc. *		2,324		21,404
Newmark Group, Inc., Class A		24,049		193,835
RE/MAX Holdings, Inc., Class A		1,837		34,738
RMR Group, Inc. (The) Class A		1,159		27,457
St. Joe Co. (The)		3,300		105,699
Stratus Properties, Inc.		313		7,293
Tejon Ranch Co. *		2,949		42,466

				1,542,363

*Road & Rail — 1.2%*
AMERCO		1,058		538,755
ArcBest Corp.		3,093		224,954
Covenant Logistics Group, Inc.		1,911		54,846

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Road & Rail (Continued)*
Heartland Express, Inc.		8,017	$	114,723
Knight-Swift Transportation Holdings, Inc.		10,458		511,710
Landstar System, Inc.		2,867		413,909
Marten Transport Ltd.		7,902		151,402
P.A.M. Transportation Services, Inc. *		6,092		188,608
Saia, Inc. *		3,397		645,430
Schneider National, Inc., Class B		1,500		30,450
Universal Logistics Holdings, Inc.		2,551		80,918
Werner Enterprises, Inc.		6,797		255,567
XPO Logistics, Inc. *		422		18,787
Yellow Corp. *		2,108		10,688

				3,240,747

*Semiconductors & Semiconductor Equipment — 3.4%*
Alpha & Omega Semiconductor Ltd. *		2,886		88,773
Ambarella, Inc. *		1,986		111,574
Amkor Technology, Inc.		25,678		437,810
Amtech Systems, Inc. *		2,822		23,987
Axcelis Technologies, Inc. *		3,944		238,849
AXT, Inc. *		5,653		37,875
Ceva, Inc. *		3,095		81,182
Cirrus Logic, Inc. *		5,956		409,773
Cohu, Inc. *		5,114		131,839
Cyberoptics Corp. *		1,123		60,395
Diodes, Inc. *		5,169		335,520
First Solar, Inc. *		8,994		1,189,636
FormFactor, Inc. *		9,854		246,843
GSI Technology, Inc. *		4,641		13,227
Ichor Holdings Ltd. *		400		9,684
Kulicke & Soffa Industries, Inc.		5,924		228,252
Lattice Semiconductor Corp. *		15,739		774,516
MACOM Technology Solutions Holdings, Inc. *		1,603		83,019
Magnachip Semiconductor Corp. *		4,588		46,981
MaxLinear, Inc. *		7,715		251,663
MKS Instruments, Inc.		5,561		459,561
NVE Corp.		502		23,418
Onto Innovation, Inc. *		4,376		280,283
PDF Solutions, Inc. *		4,938		121,129
Photronics, Inc. *		7,008		102,457
Power Integrations, Inc.		6,542		420,781
Qorvo, Inc. *		992		78,775
Rambus, Inc. *		14,241		362,006
Semtech Corp. *		7,337		215,781
Silicon Laboratories, Inc. *		3,982		491,538
Synaptics, Inc. *		5,027		497,723
Ultra Clean Holdings, Inc. *		4,298		110,674
Universal Display Corp.		3,037		286,541
Veeco Instruments, Inc. *@		4,666		85,481
Wolfspeed, Inc. *@		10,030		1,036,701

				9,374,247

*Software — 2.8%*
A10 Networks, Inc.		6,016		79,832
ACI Worldwide, Inc. *		12,870		268,983
Agilysys, Inc. *		2,848		157,637
Alarm.com Holdings, Inc. *		3,575		231,874
Altair Engineering, Inc., Class A *		3,033		134,119
American Software, Inc., Class A		4,461		68,342
Appfolio, Inc., Class A *		2,105		220,436
Aspen Technology, Inc. *		1,995		475,209
Avalara, Inc. *		2,767		254,011
Bentley Systems, Inc., Class B		545		16,672
Black Knight, Inc. *		200		12,946


	SHARES		VALUE†
Blackbaud, Inc. *		5,719	$	251,979
Box, Inc., Class A *		6,867		167,486
Commvault Systems, Inc. *		2,675		141,882
Confluent, Inc., Class A *		2,654		63,086
Consensus Cloud Solutions, Inc. *		1,449		68,538
Dolby Laboratories, Inc., Class A		2,281		148,607
DoubleVerify Holdings, Inc. *		4,181		114,350
Dropbox, Inc., Class A *		12,642		261,942
Duck Creek Technologies, Inc. *		742		8,793
Dynatrace, Inc. *		5,728		199,392
Ebix, Inc. @		2,155		40,880
eGain Corp. *		4,304		31,634
Elastic NV *		316		22,670
Envestnet, Inc. *		3,097		137,507
EverCommerce, Inc. *		921		10,067
Fair Isaac Corp. *		305		125,663
Guidewire Software, Inc. *		4,139		254,880
InterDigital, Inc.		3,064		123,847
Jamf Holding Corp. *@		4,231		93,759
Liveramp Holdings, Inc. *		8,339		151,436
Manhattan Associates, Inc. *		3,948		525,202
MeridianLink, Inc. *		630		10,256
Mitek Systems, Inc. *		1,166		10,681
N-able, Inc. *@		4,559		42,080
NCR Corp. *		2,088		39,693
OneSpan, Inc. *		1,602		13,793
Paylocity Holding Corp. *		3,577		864,132
Ping Identity Holding Corp. *		1,910		53,614
Progress Software Corp.		4,772		203,049
Qualys, Inc. *		4,157		579,444
Rimini Street, Inc. *		2,200		10,252
Sapiens International Corp. NV		2,496		47,873
SentinelOne, Inc., Class A *		3,811		97,409
SPS Commerce, Inc. *		1,282		159,263
Sumo Logic, Inc. *		3,905		29,287
Teradata Corp. *		6,462		200,710
Verint Systems, Inc. *		6,847		229,922
Xperi Holding Corp.		7,577		107,139
Yext, Inc. *		4,488		20,016
Zendesk, Inc. *		1,480		112,628

				7,694,902

*Specialty Retail — 3.3%*
Aaron’s Co. Inc. (The)		4,459		43,342
Abercrombie & Fitch Co., Class A *		3,004		46,712
Advance Auto Parts, Inc.		4,402		688,209
America’s Car-Mart, Inc. *		822		50,159
American Eagle Outfitters, Inc. @		17,377		169,078
Asbury Automotive Group, Inc. *		2,143		323,807
AutoNation, Inc. *		4,060		413,592
Bath & Body Works, Inc.		4,874		158,892
Boot Barn Holdings, Inc. *		3,866		226,006
Buckle, Inc. (The)		5,018		158,870
Build-A-Bear Workshop, Inc.		1,640		21,861
Burlington Stores, Inc. *		420		46,994
Caleres, Inc.		3,874		93,828
Cato Corp. (The) Class A		2,638		25,167
Children’s Place, Inc. (The) *		1,314		40,590
Citi Trends, Inc. *		818		12,687
Conn’s, Inc. *@		3,722		26,352
Container Store Group, Inc. (The) *		2,100		10,290
Dick’s Sporting Goods, Inc. @		6,038		631,816
Five Below, Inc. *		5,505		757,873
Floor & Decor Holdings, Inc., Class A *		4,489		315,397
Foot Locker, Inc.		5,397		168,009

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Specialty Retail (Continued)*
GameStop Corp., Class A *		2,796	$	70,264
Gap, Inc. (The) @		5,821		47,790
Genesco, Inc. *		1,490		58,587
Group 1 Automotive, Inc.		2,005		286,454
Guess?, Inc.		5,086		74,612
Haverty Furniture Cos., Inc.		1,983		49,377
Hibbett, Inc.		1,600		79,696
Leslie’s, Inc. *@		6,501		95,630
Lithia Motors, Inc.		3,347		718,099
MarineMax, Inc. *		2,209		65,806
Monro, Inc.		3,090		134,291
Murphy USA, Inc.		3,190		876,963
National Vision Holdings, Inc. *		2,140		69,871
ODP Corp. (The) *		3,360		118,104
Penske Automotive Group, Inc.		1,742		171,465
Rent-A-Center, Inc.		6,271		109,805
RH *@		540		132,878
Sally Beauty Holdings, Inc. *		4,925		62,055
Shoe Carnival, Inc.		3,062		65,649
Signet Jewelers Ltd.		5,809		332,217
Sleep Number Corp. *		3,221		108,902
Sonic Automotive, Inc., Class A		3,080		133,364
Sportsman’s Warehouse Holdings, Inc. *		3,058		25,381
Tilly’s, Inc., Class A		1,836		12,705
TravelCenters of America, Inc. *		1,344		72,482
Urban Outfitters, Inc. *		3,938		77,382
Victoria’s Secret & Co. *		1,802		52,474
Williams-Sonoma, Inc.		4,058		478,235
Winmark Corp.		554		119,852
Zumiez, Inc. *		2,406		51,801

				9,181,722

*Textiles, Apparel & Luxury Goods — 1.3%*
Capri Holdings Ltd. *		8,276		318,129
Carter’s, Inc.		1,939		127,063
Columbia Sportswear Co.		4,507		303,321
Deckers Outdoor Corp. *		2,964		926,576
Delta Apparel, Inc. *		1,153		16,130
G-III Apparel Group Ltd. *		5,008		74,870
Hanesbrands, Inc.		2,698		18,778
Kontoor Brands, Inc.		1,733		58,246
Lakeland Industries, Inc. *		1,669		19,243
Movado Group, Inc.		2,220		62,560
Oxford Industries, Inc.		1,665		149,484
PVH Corp.		4,448		199,270
Ralph Lauren Corp.		2,279		193,555
Rocky Brands, Inc.		1,000		20,060
Skechers U.S.A., Inc., Class A *		6,530		207,132
Steven Madden Ltd.		7,918		211,173
Superior Group of Cos., Inc.		2,200		19,536
Tapestry, Inc.		18,072		513,787
Under Armour, Inc., Class A *		5,877		39,082
Under Armour, Inc., Class C *		3,160		18,834
Unifi, Inc. *		2,394		22,767
Vera Bradley, Inc. *		5,091		15,324
Wolverine World Wide, Inc.		9,990		153,746

				3,688,666

*Thrifts & Mortgage Finance — 1.1%*
Axos Financial, Inc. *		7,155		244,916


	SHARES		VALUE†
Bridgewater Bancshares, Inc. *		700	$	11,529
Capitol Federal Financial, Inc.		9,589		79,589
Columbia Financial, Inc. *		2,258		47,711
ESSA Bancorp, Inc.		1,900		36,841
Essent Group Ltd.		4,642		161,866
Federal Agricultural Mortgage Corp., Class C		1,215		120,455
Flagstar Bancorp, Inc.		5,493		183,466
FS Bancorp, Inc.		962		26,224
Hingham Institution For Savings (The)		236		59,262
Home Bancorp, Inc.		994		38,756
Kearny Financial Corp.		7,750		82,305
MGIC Investment Corp.		11,104		142,353
Mr Cooper Group, Inc. *		4,998		202,419
New York Community Bancorp, Inc. @		27,709		236,358
NMI Holdings, Inc., Class A *		7,878		160,475
Northfield Bancorp, Inc.		5,020		71,836
PennyMac Financial Services, Inc.		928		39,811
Provident Financial Holdings, Inc.		1,124		15,961
Provident Financial Services, Inc.		7,592		148,044
Radian Group, Inc.		7,144		137,808
Southern Missouri Bancorp, Inc.		686		35,007
Territorial Bancorp, Inc.		1,557		28,867
TFS Financial Corp.		3,750		48,750
Timberland Bancorp, Inc.		921		25,466
TrustCo Bank Corp.		2,134		67,050
Walker & Dunlop, Inc.		4,099		343,209
Waterstone Financial, Inc.		2,966		47,930
Western New England Bancorp, Inc.		3,161		25,699
WSFS Financial Corp.		6,445		299,435

				3,169,398

*Tobacco — 0.1%*
Turning Point Brands, Inc.		1,280		27,174
Universal Corp.		2,612		120,256
Vector Group Ltd.		12,276		108,152

				255,582

*Trading Companies & Distributors — 1.9%*
Air Lease Corp.		5,985		185,595
Applied Industrial Technologies, Inc.		4,375		449,662
Beacon Roofing Supply, Inc. *		7,687		420,633
Boise Cascade Co.		4,352		258,770
Distribution Solutions Group, Inc. *		1,071		30,170
DXP Enterprises, Inc. *		2,323		55,009
GATX Corp.		3,909		332,851
Global Industrial Co.		4,722		126,691
GMS, Inc. *		2,900		116,029
H&E Equipment Services, Inc.		4,346		123,166
Herc Holdings, Inc.		4,556		473,277
Mcgrath Rentcorp		2,655		222,648
MRC Global, Inc. *		7,395		53,170
MSC Industrial Direct Co., Inc., Class A		936		68,150
NOW, Inc. *		8,751		87,948
Rush Enterprises, Inc., Class A		5,962		261,493
SiteOne Landscape Supply, Inc. *		265		27,597
Textainer Group Holdings Ltd.		4,819		129,438
Titan Machinery, Inc. *		2,515		71,074
Triton International Ltd.		7,398		404,893
Univar Solutions, Inc. *		1,143		25,992
Veritiv Corp. *		1,000		97,770
Watsco, Inc.		1,919		494,066

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

SA U.S. Small Company Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
*COMMON STOCKS (Continued)*
*Trading Companies & Distributors (Continued)*
WESCO International, Inc. *		5,493	$	655,754
Willis Lease Finance Corp. *		900		29,466

				5,201,312

*Water Utilities — 0.6%*
American States Water Co.		4,082		318,192
Artesian Resources Corp., Class A		1,177		56,637
California Water Service Group		6,097		321,251
Consolidated Water Co. Ltd.		1,751		26,930
Essential Utilities, Inc.		10,983		454,477
Middlesex Water Co.		2,133		164,668
Pure Cycle Corp. *		1,000		8,350
SJW Group		2,989		172,166
York Water Co. (The)		1,803		69,289

				1,591,960

*Wireless Telecommunication Services — 0.1%*
Shenandoah Telecommunications Co.		6,413		109,149
Spok Holdings, Inc.		2,839		21,690
Telephone & Data Systems, Inc.		8,658		120,346
United States Cellular Corp. *		1,551		40,373

				291,558

TOTAL COMMON STOCKS (Identified Cost $178,876,533)				278,519,410

PREFERRED STOCKS — 0.1%
*Media — 0.0%*
Liberty Broadband Corp. 7.000% *		1,225		30,527

*Trading Companies & Distributors — 0.1%*
WESCO International, Inc. 10.625%, 5 year CMT + 10.325% *		4,390		118,310

TOTAL PREFERRED STOCKS (Identified Cost $114,396)				148,837

SHORT-TERM INVESTMENTS — 1.0%
*Investment Company — 0.4%*
State Street Institutional U.S. Government Money Market Fund 2.690%		968,916		968,916

*Collateral For Securities On Loan — 0.6%*
State Street Navigator Securities Lending Government Money Market Portfolio, 3.030%		1,765,740		1,765,740

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $2,734,656)				2,734,656

Total Investments — 100.8%
(Identified Cost $181,725,585)				281,402,903
Liabilities, Less Cash and Other Assets — (0.8%)				(2,191,517	)

Net Assets — 100.0%			$	279,211,386

†	See Note 1

*	Non-income producing security

@	A portion or all of the security was held on loan. As of September 30, 2022, the fair value of the securities on loan was $6,026,535.

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

¶	Contingent value rights based on future performance.

Key to abbreviations:

CVR — Contingent Value Rights

CMT — Constant Maturity Treasury

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

Portfolio Sectors as of September 30, 2022

(As a percentage of long-term investments) (Unaudited)


Sector	Percentage
Industrials		20.9	%
Financials		20.4	%
Consumer Discretionary		13.5	%
Information Technology		13.0	%
Health Care		10.8	%
Materials		6.6	%
Consumer Staples		4.4	%
Energy		4.1	%
Utilities		3.9	%
Communication Services		2.4	%

		100.0	%

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
COMMON STOCKS — 99.7%
*Aerospace & Defense — 2.0%*
General Dynamics Corp.		7,826	$	1,660,443
Howmet Aerospace, Inc.		33,495		1,036,000
L3Harris Technologies, Inc.		4,688		974,307
Northrop Grumman Corp.		3,018		1,419,426
Raytheon Technologies Corp.		36,091		2,954,409
Textron, Inc.		26,765		1,559,329

				9,603,914

*Air Freight & Logistics — 0.6%*
FedEx Corp.		16,968		2,519,239
GXO Logistics, Inc. *		6,449		226,102

				2,745,341

*Airlines — 0.2%*
Alaska Air Group, Inc. *		964		37,741
JetBlue Airways Corp. *		716		4,747
Southwest Airlines Co. *		27,340		843,165

				885,653

*Auto Components — 0.3%*
Aptiv PLC *		4,329		338,571
BorgWarner, Inc.		24,241		761,168
Gentex Corp.		863		20,574
Goodyear Tire & Rubber Co. (The) *		2,391		24,125
Lear Corp.		4,071		487,258

				1,631,696

*Automobiles — 1.0%*
Ford Motor Co.		150,516		1,685,779
General Motors Co.		98,964		3,175,755

				4,861,534

*Beverages — 0.4%*
Constellation Brands, Inc., Class A		5,660		1,299,989
Keurig Dr Pepper, Inc.		2,705		96,893
Molson Coors Beverage Co., Class B		10,592		508,310

				1,905,192

*Biotechnology — 1.9%*
AbbVie, Inc.		738		99,047
Biogen, Inc. *		9,693		2,588,031
Gilead Sciences, Inc.		44,490		2,744,588
Moderna, Inc. *		2,181		257,903
Regeneron Pharmaceuticals, Inc. *		3,232		2,226,428
United Therapeutics Corp. *		683		143,006
Vertex Pharmaceuticals, Inc. *		4,366		1,264,132

				9,323,135

*Building Products — 1.6%*
Builders FirstSource, Inc. *		7,125		419,805
Carlisle Cos., Inc.		6,370		1,786,212
Carrier Global Corp.		41,203		1,465,179
Fortune Brands Home & Security, Inc.		11,027		592,040
Johnson Controls International PLC		34,370		1,691,691
Owens Corning		12,209		959,749
Trane Technologies PLC		5,374		778,209

				7,692,885

*Capital Markets — 2.8%*
Bank of New York Mellon Corp. (The)		52,444		2,020,143
Goldman Sachs Group, Inc. (The)		19,927		5,839,607
Jefferies Financial Group, Inc.		6,993		206,294
Morgan Stanley		58,923		4,655,506
Northern Trust Corp.		370		31,657
State Street Corp.		10,112		614,911

				13,368,118

*Chemicals — 3.7%*
Air Products & Chemicals, Inc.		7,452		1,734,304


	SHARES		VALUE†
Albemarle Corp.		7,095	$	1,876,202
Celanese Corp.		4,202		379,609
CF Industries Holdings, Inc.		11,835		1,139,119
Corteva, Inc.		18,513		1,058,018
Dow, Inc.		51,700		2,271,181
DuPont de Nemours, Inc.		13,259		668,253
Eastman Chemical Co.		17,799		1,264,619
FMC Corp.		500		52,850
International Flavors & Fragrances, Inc.		9,315		846,081
Linde plc		13,566		3,657,258
LyondellBasell Industries NV, Class A		21,390		1,610,239
Mosaic Co. (The)		10,576		511,138
PPG Industries, Inc.		775		85,785
Westlake Corp.		7,968		692,260

				17,846,916

*Commercial Banks — 9.1%*
Bank of America Corp.		197,037		5,950,517
Citigroup, Inc.		79,030		3,293,180
Citizens Financial Group, Inc.		18,613		639,543
East West Bancorp, Inc.		2,390		160,465
Fifth Third Bancorp		70,601		2,256,408
Huntington Bancshares, Inc.		72,900		960,822
JPMorgan Chase & Co.		136,609		14,275,640
KeyCorp		66,158		1,059,851
M&T Bank Corp.		3,759		662,787
PNC Financial Services Group, Inc. (The)		11,566		1,728,192
Regions Financial Corp.		119,937		2,407,136
Truist Financial Corp.		64,730		2,818,344
US Bancorp		29,194		1,177,102
Wells Fargo & Co.		126,013		5,068,243
Zions Bancorp NA		20,193		1,027,016

				43,485,246

*Commercial Services & Supplies — 1.0%*
Republic Services, Inc.		35,532		4,833,773

*Communications Equipment — 0.1%*
Cisco Systems, Inc.		4,155		166,200
Juniper Networks, Inc.		19,365		505,814

				672,014

*Computers & Peripherals — 1.4%*
Dell Technologies, Inc., Class C		861		29,420
Hewlett Packard Enterprise Co.		141,847		1,699,327
HP, Inc.		176,918		4,408,797
Western Digital Corp. *		23,295		758,252
Xerox Holdings Corp.		2,019		26,409

				6,922,205

*Construction & Engineering — 0.5%*
AECOM		11,462		783,657
Quanta Services, Inc.		13,887		1,769,065

				2,552,722

*Construction Materials — 0.6%*
Martin Marietta Materials, Inc.		4,136		1,332,164
Vulcan Materials Co.		8,594		1,355,360

				2,687,524


*Consumer Finance — 1.0%*
Ally Financial, Inc.	52,963	1,473,960
Capital One Financial Corp.	28,539	2,630,440
Synchrony Financial	25,544	720,085

		4,824,485

*Containers & Packaging — 0.5%*
Amcor PLC	20,769	222,851
International Paper Co.	44,343	1,405,673
Packaging Corp. of America	2,898	325,417

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

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Containers & Packaging (Continued)*
Sonoco Products Co.		611	$	34,662
WestRock Co.		13,537		418,158

				2,406,761

*Distributors — 0.4%*
Genuine Parts Co.		2,168		323,725
LKQ Corp.		37,512		1,768,691

				2,092,416

*Diversified Consumer Services — 0.0%*
Service Corp. International		2,896		167,215

Diversified Financial Services — 2.2%
Apollo Global Management, Inc.		2,277		105,880
Berkshire Hathaway, Inc., Class B *		38,388		10,250,364

				10,356,244

*Diversified Telecommunication Services — 3.1%*
AT&T, Inc.		455,881		6,993,214
Lumen Technologies, Inc. @		125,601		914,375
Verizon Communications, Inc.		187,445		7,117,287

				15,024,876

*Electric Utilities — 0.2%*
NRG Energy, Inc.		22,148		847,604

*Electrical Equipment — 0.9%*
AMETEK, Inc.		5,351		606,857
Eaton Corp. PLC		19,988		2,665,599
Emerson Electric Co.		8,842		647,411
Hubbell, Inc.		630		140,490
Sensata Technologies Holding PLC		1,781		66,396

				4,126,753

*Electronic Equipment, Instruments & Components — 1.2%*
Arrow Electronics, Inc. *		3,551		327,367
Corning, Inc.		84,494		2,452,016
Flex Ltd. *		31,420		523,457
Jabil, Inc.		496		28,624
TD SYNNEX Corp.		1,605		130,310
TE Connectivity Ltd.		19,391		2,139,991
Vontier Corp.		1,095		18,297

				5,620,062

*Energy Equipment & Services — 0.8%*
Baker Hughes Co.		23,916		501,280
Halliburton Co.		37,471		922,536
Schlumberger NV		64,877		2,329,084

				3,752,900

*Entertainment — 1.5%*
Activision Blizzard, Inc.		21,184		1,574,819
Electronic Arts, Inc.		1,911		221,122
Liberty Media Corp.-Liberty Formula One, Class A *		1,097		57,614
Liberty Media Corp.-Liberty Formula One, Class C *		2,194		128,349
Madison Square Garden Entertainment Corp. *		443		19,532
Take-Two Interactive Software, Inc. *		725		79,025
Walt Disney Co. (The) *		41,483		3,913,091
Warner Bros Discovery, Inc. *		112,539		1,294,199

				7,287,751


	SHARES		VALUE†
*Food & Staples Retailing — 2.7%*
Kroger Co. (The)		62,007	$	2,712,806
US Foods Holding Corp. *		9,124		241,238
Walgreens Boots Alliance, Inc.		44,769		1,405,747
Walmart, Inc.		64,583		8,376,415

				12,736,206

*Food Products — 3.4%*
Archer-Daniels-Midland Co.		24,965		2,008,434
Bunge Ltd.		12,845		1,060,612
Campbell Soup Co.		3,702		174,438
Conagra Brands, Inc.		19,827		646,955
Darling Ingredients, Inc. *		5,424		358,798
General Mills, Inc.		38,095		2,918,458
Hormel Foods Corp.		5,728		260,280
J.M. Smucker Co. (The)		13,087		1,798,285
Kraft Heinz Co. (The)		20,920		697,682
McCormick & Co., Inc.		1,921		136,910
Mondelez International, Inc., Class A		62,778		3,442,118
Post Holdings, Inc. *		973		79,698
Seaboard Corp.		22		74,858
Tyson Foods, Inc., Class A		41,844		2,758,775

				16,416,301

*Health Care Equipment & Supplies — 1.4%*
Abbott Laboratories		325		31,447
Baxter International, Inc.		14,838		799,175
Becton Dickinson & Co.		4,016		894,885
Boston Scientific Corp. *		7,514		291,017
Cooper Cos., Inc. (The)		137		36,154
Embecta Corp.		803		23,118
Hologic, Inc. *		2,895		186,786
Medtronic PLC		37,706		3,044,760
STERIS plc		3,637		604,760
Zimmer Biomet Holdings, Inc.		8,154		852,501
Zimvie, Inc. *		815		8,044

				6,772,647

*Health Care Providers & Services — 6.1%*
Centene Corp. *		19,196		1,493,641
CIGNA Corp.		19,065		5,289,965
CVS Health Corp.		58,448		5,574,186
Elevance Health, Inc.		14,965		6,797,702
Henry Schein, Inc. *		3,777		248,413
Humana, Inc.		7,918		3,841,734
Laboratory Corp. of America Holdings		13,769		2,820,029
McKesson Corp.		1,984		674,302
Quest Diagnostics, Inc.		18,783		2,304,486
UnitedHealth Group, Inc.		664		335,347
Universal Health Services, Inc., Class B		1,221		107,668

				29,487,473

*Hotels, Restaurants & Leisure — 0.5%*
Aramark		16,117		502,850
Carnival Corp. *@		27,865		195,891
Hyatt Hotels Corp., Class A *		3,174		256,967
MGM Resorts International		26,967		801,459
Royal Caribbean Cruises Ltd. *		12,273		465,147

				2,222,314

*Household Durables — 1.8%*
DR Horton, Inc.		50,225		3,382,654
Garmin Ltd.		12,982		1,042,584
Lennar Corp., B Shares		573		34,099

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

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Household Durables (Continued)*
Lennar Corp., Class A		23,116	$	1,723,298
Mohawk Industries, Inc. *		2,654		242,018
Newell Brands, Inc.		8,086		112,315
PulteGroup, Inc.		41,840		1,569,000
Toll Brothers, Inc.		116		4,872
Whirlpool Corp.		4,936		665,422

				8,776,262

*Independent Power Producers & Energy Traders — 0.1%*
Vistra Corp.		25,467		534,807

*Industrial Conglomerates — 0.2%*
General Electric Co.		11,962		740,567

*Insurance — 4.9%*
Aflac, Inc.		32,730		1,839,426
Alleghany Corp. *		654		548,948
Allstate Corp. (The)		17,397		2,166,448
American Financial Group, Inc.		6,623		814,165
American International Group, Inc.		29,118		1,382,523
Arch Capital Group Ltd. *		11,691		532,408
Assurant, Inc.		4,486		651,681
Chubb Ltd.		11,440		2,080,707
Cincinnati Financial Corp.		370		33,141
CNA Financial Corp.		4,467		164,832
Everest Re Group Ltd.		1,938		508,609
Fidelity National Financial, Inc.		1,515		54,843
Hartford Financial Services Group, Inc. (The)		47,472		2,940,416
Lincoln National Corp.		9,516		417,848
Loews Corp.		18,402		917,156
Markel Corp. *		116		125,770
MetLife, Inc.		20,221		1,229,032
Old Republic International Corp.		14,636		306,331
Principal Financial Group, Inc.		28,632		2,065,799
Prudential Financial, Inc.		12,032		1,032,105
Reinsurance Group of America, Inc.		595		74,857
RenaissanceRe Holdings Ltd.		469		65,843
Travelers Companies, Inc. (The)		21,648		3,316,474
W. R. Berkley Corp.		918		59,284

				23,328,646

*Interactive Media & Services — 1.3%*
Meta Platforms, Inc., Class A *		46,973		6,373,297

*Internet & Catalog Retail — 0.0%*
eBay, Inc.		4,559		167,817

*IT Services — 1.5%*
Akamai Technologies, Inc. *		3,310		265,859
Amdocs Ltd.		15,213		1,208,673
Cognizant Technology Solutions Corp., Class A		34,305		1,970,479
Concentrix Corp.		1,605		179,166
DXC Technology Co. *		10,530		257,775
Fidelity National Information Services, Inc.		17,462		1,319,603
Fiserv, Inc. *		12,529		1,172,339
Global Payments, Inc.		3,897		421,071
International Business Machines Corp.		252		29,940
Kyndryl Holdings, Inc. *		1,933		15,986
SS&C Technologies Holdings, Inc.		7,467		356,549

				7,197,440

*Life Sciences Tools & Services — 2.8%*
Bio-Rad Laboratories, Inc., Class A *		172		71,748
Danaher Corp.		19,132		4,941,604
PerkinElmer, Inc.		1,932		232,478


	SHARES		VALUE†
Thermo Fisher Scientific, Inc.		16,006	$	8,118,083

				13,363,913

*Machinery — 3.0%*
AGCO Corp.		8,548		822,061
Cummins, Inc.		10,946		2,227,620
Dover Corp.		7,963		928,327
Fortive Corp.		7,311		426,231
Ingersoll Rand, Inc.		14,939		646,261
Oshkosh Corp.		984		69,165
Otis Worldwide Corp.		25,885		1,651,463
PACCAR, Inc.		20,694		1,731,881
Parker-Hannifin Corp.		8,468		2,051,881
Pentair PLC		20,400		828,852
Snap-On, Inc.		6,351		1,278,774
Stanley Black & Decker, Inc.		14,985		1,127,022
Westinghouse Air Brake Technologies Corp.		5,333		433,840

				14,223,378

*Media — 2.5%*
Comcast Corp., Class A		285,775		8,381,781
DISH Network Corp., Class A *		12,654		175,005
Fox Corp. Class A		24,883		763,410
Fox Corp. Class B		14,510		413,535
Interpublic Group of Cos., Inc. (The)		17,681		452,634
Liberty Broadband Corp., Class C *		3,887		286,861
Liberty Media Corp.-Liberty Siriusxm, Class A *		4,389		167,089
Liberty Media Corp.-Liberty Siriusxm, Class C *		8,778		331,018
News Corp., Class A		8,320		125,715
News Corp., Class B		1,734		26,738
Omnicom Group, Inc.		1,501		94,698
Paramount Global, Class A @		900		19,386
Paramount Global, Class B @		44,427		845,890

				12,083,760

*Metals & Mining — 2.9%*
Alcoa Corp.		2,284		76,879
Arconic Corp. *		1,634		27,843
Cleveland-Cliffs, Inc. *		9,779		131,723
Freeport-McMoRan, Inc.		106,539		2,911,711
Newmont Corp.		46,812		1,967,508
Nucor Corp.		41,998		4,493,366
Reliance Steel & Aluminum Co.		9,348		1,630,385
Royal Gold, Inc.		725		68,020
Steel Dynamics, Inc.		33,820		2,399,529

				13,706,964

*Multiline Retail — 0.4%*
Dollar Tree, Inc. *		12,596		1,714,315
Kohl’s Corp.		344		8,652
Target Corp.		361		53,569

				1,776,536

*Oil, Gas & Consumable Fuels — 13.5%*
Chevron Corp.		92,335		13,265,770
ConocoPhillips		102,632		10,503,359
Continental Resources, Inc.		1,401		93,601
Coterra Energy, Inc.		14,312		373,829
Devon Energy Corp.		13,044		784,336
Diamondback Energy, Inc.		1,857		223,694
EOG Resources, Inc.		23,992		2,680,626
Exxon Mobil Corp.		219,352		19,151,623
Hess Corp.		21,220		2,312,768
HF Sinclair Corp.		471		25,359
Kinder Morgan, Inc.		54,102		900,257

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

SA U.S. Value Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Oil, Gas & Consumable Fuels (Continued)*
Marathon Oil Corp.		18,183	$	410,572
Marathon Petroleum Corp.		30,104		2,990,230
Occidental Petroleum Corp.		34,021		2,090,590
ONEOK, Inc.		22,165		1,135,735
Phillips 66		15,495		1,250,756
Pioneer Natural Resources Co.		10,352		2,241,519
Targa Resources Corp.		3,005		181,322
Valero Energy Corp.		19,826		2,118,408
Williams Cos., Inc. (The)		70,657		2,022,910

				64,757,264

*Paper & Forest Products — 0.0%*
Sylvamo Corp.		1,413		47,901

*Personal Products — 0.0%*
BellRing Brands, Inc. *		1,233		25,412

*Pharmaceuticals — 4.9%*
Bristol-Myers Squibb Co.		93,266		6,630,280
Jazz Pharmaceuticals PLC *		4,730		630,462
Merck & Co., Inc.		7,780		670,013
Pfizer, Inc.		340,714		14,909,645
Viatris, Inc.		69,023		588,076

				23,428,476

*Professional Services — 0.5%*
Jacobs Solutions, Inc.		6,136		665,695
Leidos Holdings, Inc.		16,200		1,417,014
Manpowergroup, Inc.		632		40,884
Nielsen Holdings PLC		3,273		90,727

				2,214,320

*Real Estate Management & Development — 0.4%*
CBRE Group, Inc., Class A *		19,100		1,289,441
Jones Lang LaSalle, Inc. *		4,753		718,036

				2,007,477

*Road & Rail — 1.0%*
AMERCO		2,003		1,019,968
CSX Corp.		7,315		194,872
Norfolk Southern Corp.		16,650		3,490,672

				4,705,512

*Semiconductors & Semiconductor Equipment — 3.2%*
Advanced Micro Devices, Inc. *		6,017		381,237
Analog Devices, Inc.		10,368		1,444,677
Intel Corp.		260,984		6,725,558
Lam Research Corp.		109		39,894
Marvell Technology, Inc.		18,929		812,244
Micron Technology, Inc.		75,683		3,791,718
ON Semiconductor Corp. *		18,470		1,151,235
Qorvo, Inc. *		11,125		883,436
Skyworks Solutions, Inc.		4,292		365,979

				15,595,978

*Software — 0.2%*
NortonLifeLock, Inc.		3,129		63,018
Roper Technologies, Inc.		366		131,628
Salesforce, Inc. *		6,955		1,000,407

				1,195,053

*Specialty Retail — 0.3%*
Advance Auto Parts, Inc.		4,932		771,069
Carmax, Inc. *		8,119		536,016


	SHARES		VALUE†
Lithia Motors, Inc.		400	$	85,820

				1,392,905

*Textiles, Apparel & Luxury Goods — 0.1%*
Ralph Lauren Corp.		1,676		142,344
Tapestry, Inc.		6,979		198,413

				340,757

*Trading Companies & Distributors — 0.3%*
United Rentals, Inc. *		5,460		1,474,855

*Wireless Telecommunication Services — 0.8%*
T-Mobile US, Inc. *		29,534		3,962,577

TOTAL COMMON STOCKS
(Identified Cost $332,223,240)				478,581,750

SHORT-TERM INVESTMENTS — 0.3%
*Investment Company — 0.3%*
State Street Institutional U.S. Government Money Market Fund 2.690%		1,355,722		1,355,722

				1,355,722

*Collateral For Securities On Loan — 0.0%*
State Street Navigator Securities Lending Government Money Market Portfolio, 3.030%		126,068		126,068

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $1,481,790)				1,481,790

Total Investments — 100.0% (Identified Cost $333,705,030)				480,063,540
Cash and Other Assets, Less Liabilities — 0.0%				21,684

Net Assets — 100.0%			$	480,085,224

†	See Note 1

*	Non-income producing security

@	A portion or all of the security was held on loan. As of September 30, 2022, the fair value of the securities on loan was $735,472.

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

Portfolio Sectors as of September 30, 2022

(As a percentage of long-term investments) (Unaudited)


Sector	Percentage
Financials		20.3	%
Health Care		17.2	%
Energy		14.3	%
Industrials		11.7	%
Communication Services		9.3	%
Information Technology		7.8	%
Materials		7.7	%
Consumer Staples		6.5	%
Consumer Discretionary		4.9	%
Utilities		0.3	%

		100.0	%

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
COMMON STOCKS — 95.5%
*Aerospace & Defense — 1.6%*
Aerojet Rocketdyne Holdings, Inc. *		897	$	35,871
Axon Enterprise, Inc. *		500		57,875
Boeing Co. (The) *		8,201		992,977
BWX Technologies, Inc.		2,913		146,728
Curtiss-Wright Corp.		847		117,869
General Dynamics Corp.		3,788		803,700
HEICO Corp.		574		82,645
HEICO Corp., Class A		625		71,637
Hexcel Corp.		778		40,238
Howmet Aerospace, Inc.		1,946		60,190
Huntington Ingalls Industries, Inc.		827		183,180
L3Harris Technologies, Inc.		2,258		469,280
Lockheed Martin Corp.		6,309		2,437,104
Northrop Grumman Corp.		2,903		1,365,339
Parsons Corp. *		540		21,168
Raytheon Technologies Corp.		14,657		1,199,822
Textron, Inc.		2,582		150,427
TransDigm Group, Inc.		928		487,033
Woodward, Inc.		1,254		100,646

				8,823,729

*Air Freight & Logistics — 0.7%*
CH Robinson Worldwide, Inc.		2,800		269,668
Expeditors International of Washington, Inc.		3,525		311,293
FedEx Corp.		4,796		712,062
GXO Logistics, Inc. *		1,934		67,806
United Parcel Service, Inc., Class B		14,911		2,408,723

				3,769,552

*Airlines — 0.1%*
Alaska Air Group, Inc. *		3,201		125,319
American Airlines Group, Inc. *		4,400		52,976
Delta Air Lines, Inc. *		4,487		125,905
Southwest Airlines Co. *		5,800		178,872
United Airlines Holdings, Inc. *		2,884		93,817

				576,889

*Auto Components — 0.1%*
Aptiv PLC *		2,924		228,686
Autoliv, Inc.		1,465		97,613
BorgWarner, Inc.		3,685		115,709
Fox Factory Holding Corp. *		500		39,540
Gentex Corp.		4,249		101,296
Goodyear Tire & Rubber Co. (The) *		3,778		38,120
Lear Corp.		957		114,544

				735,508

*Automobiles — 1.7%*
Ford Motor Co.		38,192		427,750
General Motors Co.		9,249		296,800
Harley-Davidson, Inc.		974		33,973
Tesla, Inc. *		31,938		8,471,555
Thor Industries, Inc.		1,179		82,507

				9,312,585

*Beverages — 2.0%*
Boston Beer Co., Inc. (The), Class A *		216		69,908
Brown-Forman Corp., Class A @		1,202		81,207
Brown-Forman Corp., Class B		5,458		363,339
Coca-Cola Co. (The)		76,728		4,298,303
Coca-Cola Consolidated, Inc.		132		54,348
Constellation Brands, Inc., Class A		1,757		403,548
Keurig Dr Pepper, Inc.		3,375		120,892
Molson Coors Beverage Co., Class B		1,400		67,186
Monster Beverage Corp. *		4,711		409,669
National Beverage Corp.		881		33,954


	SHARES		VALUE†
PepsiCo, Inc.		32,018	$	5,227,259

				11,129,613

*Biotechnology — 2.5%*
AbbVie, Inc.		39,827		5,345,182
Alkermes PLC *		1,447		32,312
Alnylam Pharmaceuticals, Inc. *		1,198		239,792
Amgen, Inc.		12,097		2,726,664
Biogen, Inc. *		2,404		641,868
BioMarin Pharmaceutical, Inc. *		1,169		99,096
CRISPR Therapeutics AG *@		655		42,804
Denali Therapeutics, Inc. *		800		24,552
Exact Sciences Corp. *		1,421		46,168
Exelixis, Inc. *		3,578		56,103
Gilead Sciences, Inc.		23,535		1,451,874
Halozyme Therapeutics, Inc. *		3,014		119,174
Horizon Therapeutics PLC *		1,910		118,210
Incyte Corp. *		1,624		108,223
Moderna, Inc. *		1,481		175,128
Neurocrine Biosciences, Inc. *		608		64,576
Regeneron Pharmaceuticals, Inc. *		1,543		1,062,926
Sarepta Therapeutics, Inc. *		702		77,599
Seagen, Inc. *		1,042		142,577
United Therapeutics Corp. *		835		174,832
Vertex Pharmaceuticals, Inc. *		2,966		858,776

				13,608,436

*Building Products — 0.6%*
A.O. Smith Corp.		2,378		115,523
Advanced Drainage Systems, Inc.		200		24,874
Allegion PLC		3,064		274,780
Armstrong World Industries, Inc.		1,390		110,130
Builders FirstSource, Inc. *		2,521		148,537
Carlisle Cos., Inc.		1,113		312,096
Carrier Global Corp.		15,513		551,642
Fortune Brands Home & Security, Inc.		2,330		125,098
Johnson Controls International PLC		580		28,548
Lennox International, Inc.		835		185,929
Masco Corp.		4,275		199,600
Owens Corning		2,802		220,265
Simpson Manufacturing Co., Inc.		1,080		84,672
Trane Technologies PLC		3,350		485,113
Trex Co., Inc. *		3,239		142,322
UFP Industries, Inc.		812		58,594
Zurn Elkay Water Solutions Corp.		1,200		29,400

				3,097,123

*Capital Markets — 2.4%*
Affiliated Managers Group, Inc.		600		67,110
Ameriprise Financial, Inc.		2,269		571,675
Ares Management Corp., Class A		1,606		99,492
Bank of New York Mellon Corp. (The)		4,707		181,314
BlackRock, Inc.		1,490		819,917
Blackstone, Inc.		6,683		559,367
Cboe Global Markets, Inc.		1,521		178,520
Charles Schwab Corp. (The)		14,444		1,038,090
CME Group, Inc.		2,477		438,751
Cohen & Steers, Inc.		617		38,643
Evercore, Inc., Class A		400		32,900
FactSet Research Systems, Inc.		857		342,894
Franklin Resources, Inc.		2,732		58,793
Goldman Sachs Group, Inc. (The)		3,446		1,009,850
Hamilton Lane, Inc. Class A		723		43,098
Houlihan Lokey, Inc.		1,466		110,507
Interactive Brokers Group, Inc., Class A		962		61,481
Intercontinental Exchange, Inc.		5,581		504,243
Janus Henderson Group PLC		1,850		37,574

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Capital Markets (Continued)*
Jefferies Financial Group, Inc.		1,620	$	47,790
KKR & Co., Inc.		7,268		312,524
LPL Financial Holdings, Inc.		2,186		477,597
MarketAxess Holdings, Inc.		800		177,992
Moody’s Corp.		3,822		929,167
Morgan Stanley		18,298		1,445,725
Morningstar, Inc.		304		64,545
MSCI, Inc.		1,501		633,107
Nasdaq, Inc.		4,902		277,845
Northern Trust Corp.		2,859		244,616
Raymond James Financial, Inc.		3,195		315,730
S&P Global, Inc.		3,924		1,198,193
SEI Investments Co.		3,132		153,625
State Street Corp.		1,628		98,999
Stifel Financial Corp.		2,529		131,280
T. Rowe Price Group, Inc.		4,513		473,910
Tradeweb Markets, Inc., Class A		683		38,535
Virtu Financial, Inc., Class A		1,430		29,701

				13,245,100

*Chemicals — 1.5%*
Air Products & Chemicals, Inc.		3,414		794,540
Albemarle Corp.		956		252,805
Ashland, Inc.		970		92,121
Avient Corp.		700		21,210
Axalta Coating Systems Ltd. *		1,604		33,780
Balchem Corp.		630		76,595
Cabot Corp.		500		31,945
Celanese Corp.		1,968		177,789
CF Industries Holdings, Inc.		2,192		210,980
Chemours Co. (The)		1,100		27,115
Corteva, Inc.		5,428		310,210
Dow, Inc.		12,298		540,251
DuPont de Nemours, Inc.		2,632		132,653
Eastman Chemical Co.		1,476		104,870
Ecolab, Inc.		3,437		496,371
Element Solutions, Inc.		2,160		35,143
FMC Corp.		1,937		204,741
H.B. Fuller Co.		339		20,374
Huntsman Corp.		4,705		115,461
International Flavors & Fragrances, Inc.		2,270		206,184
Linde plc		5,382		1,450,933
Livent Corp. *@		1,666		51,063
LyondellBasell Industries NV, Class A		6,211		467,564
Mosaic Co. (The)		4,606		222,608
Olin Corp.		1,800		77,184
PPG Industries, Inc.		3,241		358,746
RPM International, Inc.		2,334		194,446
Sensient Technologies Corp.		520		36,057
Sherwin Williams Co. (The)		5,981		1,224,610
Valvoline, Inc.		2,246		56,914
Westlake Corp.		439		38,140

				8,063,403

*Commercial Banks — 2.4%*
Associated Banc-Corp.		1,989		39,939
Bancfirst Corp.		426		38,114
Bank of America Corp.		66,036		1,994,287
Bank of Hawaii Corp.		559		42,551
Bank OZK		1,661		65,709


	SHARES		VALUE†
BOK Financial Corp.		300	$	26,658
Cadence Bank		3,669		93,229
Citigroup, Inc.		9,694		403,949
Citizens Financial Group, Inc.		454		15,599
Comerica, Inc.		1,832		130,255
Commerce Bancshares, Inc.		2,271		150,249
Community Bank System, Inc.		932		55,995
Cullen/Frost Bankers, Inc.		956		126,402
CVB Financial Corp.		1,624		41,120
East West Bancorp, Inc.		2,039		136,899
Eastern Bankshares, Inc.		1,906		37,434
Fifth Third Bancorp		7,840		250,566
First Citizens Bancshares, Inc., Class A		112		89,312
First Financial Bankshares, Inc.		3,094		129,422
First Hawaiian, Inc.		1,617		39,827
First Horizon Corp.		7,194		164,743
First Interstate Bancsystem, Inc., Class A		900		36,315
First Republic Bank		1,605		209,533
FNB Corp.		5,930		68,788
Glacier Bancorp, Inc.		1,306		64,164
Hancock Whitney Corp.		1,078		49,383
Home Bancshares, Inc.		1,840		41,418
Huntington Bancshares, Inc.		7,352		96,899
Independent Bank Corp.		419		31,228
JPMorgan Chase & Co.		38,234		3,995,453
KeyCorp		7,104		113,806
M&T Bank Corp.		522		92,039
Pacific Premier Bancorp, Inc.		636		19,691
Pinnacle Financial Partners, Inc.		1,009		81,830
PNC Financial Services Group, Inc. (The)		3,193		477,098
Popular, Inc.		2,182		157,235
Prosperity Bancshares, Inc.		1,026		68,414
Regions Financial Corp.		9,428		189,220
ServisFirst Bancshares, Inc.		589		47,120
Signature Bank		385		58,135
Simmons First National Corp., Class A		929		20,243
South State Corp.		400		31,648
SVB Financial Group *		882		296,158
Synovus Financial Corp.		1,811		67,931
Texas Capital Bancshares, Inc. *		661		39,019
Truist Financial Corp.		7,663		333,647
UMB Financial Corp.		590		49,731
Umpqua Holdings Corp.		2,800		47,852
United Bankshares, Inc.		778		27,814
United Community Banks, Inc.		1,423		47,101
US Bancorp		19,610		790,675
Valley National Bancorp		1,602		17,302
Webster Financial Corp.		2,013		90,988
Wells Fargo & Co.		31,501		1,266,970
Western Alliance Bancorp		2,242		147,389
Wintrust Financial Corp.		600		48,930
Zions Bancorp NA		2,092		106,399

				13,399,825

*Commercial Services & Supplies — 0.7%*
Casella Waste Systems, Inc., Class A *		549		41,938
Cintas Corp.		1,987		771,334
Clean Harbors, Inc. *		770		84,685
Copart, Inc. *		4,278		455,179
IAA, Inc. *		3,052		97,206
MSA Safety, Inc.		600		65,568

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Commercial Services & Supplies (Continued)*
Republic Services, Inc.		4,657	$	633,538
Rollins, Inc.		4,629		160,534
Stericycle, Inc. *		1,544		65,018
Tetra Tech, Inc.		640		82,259
UniFirst Corp.		155		26,076
Waste Management, Inc.		9,583		1,535,292

				4,018,627

*Communications Equipment — 0.7%*
Arista Networks, Inc. *		2,688		303,448
Ciena Corp. *		2,569		103,865
Cisco Systems, Inc.		64,788		2,591,520
F5, Inc. *		769		111,297
Juniper Networks, Inc.		4,954		129,399
Lumentum Holdings, Inc. *		1,528		104,775
Motorola Solutions, Inc.		2,888		646,825
Viavi Solutions, Inc. *		3,204		41,812

				4,032,941

*Computers & Peripherals — 8.7%*
Apple, Inc.		335,928		46,425,250
Dell Technologies, Inc., Class C		5,183		177,103
Hewlett Packard Enterprise Co.		9,599		114,996
HP, Inc.		17,328		431,814
NetApp, Inc.		4,285		265,027
Pure Storage, Inc., Class A *		2,027		55,479
Seagate Technology Holdings PLC		4,998		266,043
Western Digital Corp. *		3,176		103,379

				47,839,091

*Construction & Engineering — 0.2%*
AECOM		1,355		92,641
API Group Corp. *		1,855		24,616
Comfort Systems USA, Inc.		533		51,877
Dycom Industries, Inc. *		452		43,180
EMCOR Group, Inc.		1,400		161,672
Fluor Corp. *@		831		20,684
MasTec, Inc. *		1,400		88,900
MDU Resources Group, Inc.		3,960		108,306
Quanta Services, Inc.		2,550		324,844
Valmont Industries, Inc.		200		53,724
WillScot Mobile Mini Holdings Corp. *		1,927		77,716

				1,048,160

*Construction Materials — 0.1%*
Eagle Materials, Inc.		626		67,094
Martin Marietta Materials, Inc.		664		213,868
Vulcan Materials Co.		1,521		239,877

				520,839

*Consumer Finance — 0.6%*
Ally Financial, Inc.		1,328		36,958
American Express Co.		12,759		1,721,317
Capital One Financial Corp.		4,875		449,329
Credit Acceptance Corp. *@		284		124,392
Discover Financial Services		6,077		552,521
FirstCash Holdings, Inc.		1,032		75,697
OneMain Holdings, Inc.		677		19,985
SLM Corp.		2,583		36,136
Synchrony Financial		8,054		227,042

				3,243,377

*Containers & Packaging — 0.4%*
Amcor PLC		13,861		148,729
AptarGroup, Inc.		1,483		140,930
Avery Dennison Corp.		2,232		363,146


	SHARES		VALUE†
Ball Corp.		6,941	$	335,389
Berry Global Group, Inc. *		3,918		182,305
Crown Holdings, Inc.		3,506		284,091
Graphic Packaging Holding Co.		6,877		135,752
Greif, Inc., Class A		641		38,184
Greif, Inc., Class B		320		19,456
International Paper Co.		4,336		137,451
Packaging Corp. of America		1,552		174,274
Sealed Air Corp.		3,059		136,156
Silgan Holdings, Inc.		2,057		86,476
Sonoco Products Co.		1,933		109,659
WestRock Co.		1		31

				2,292,029

*Distributors — 0.2%*
Genuine Parts Co.		2,179		325,368
LKQ Corp.		4,303		202,886
Pool Corp.		1,026		326,484

				854,738

*Diversified Consumer Services — 0.1%*
Bright Horizons Family Solutions, Inc. *		639		36,838
H&R Block, Inc.		4,046		172,117
Service Corp. International		4,767		275,246
Terminix Global Holdings, Inc. *		3,309		126,702

				610,903

*Diversified Financial Services — 0.9%*
Apollo Global Management, Inc.		1,436		66,774
Berkshire Hathaway, Inc., Class B *		16,977		4,533,199
Equitable Holdings, Inc.		5,987		157,757
Voya Financial, Inc.		1,519		91,900

				4,849,630

*Diversified Telecommunication Services — 0.9%*
AT&T, Inc.		73,915		1,133,856
Frontier Communications Parent, Inc. *		1,656		38,800
Iridium Communications, Inc. *		3,043		135,018
Lumen Technologies, Inc. @		12,123		88,255
Verizon Communications, Inc.		99,340		3,771,940

				5,167,869

*Electric Utilities — 2.0%*
Allete, Inc.		1,199		60,010
Alliant Energy Corp.		4,621		244,867
American Electric Power Co., Inc.		8,417		727,650
Avangrid, Inc.		1,433		59,756
Constellation Energy Corp.		5,321		442,654
Duke Energy Corp.		13,107		1,219,213
Edison International		6,635		375,408
Entergy Corp.		2,869		288,707
Evergy, Inc.		3,652		216,929
Eversource Energy		5,876		458,093
Exelon Corp.		15,965		598,049
FirstEnergy Corp.		8,176		302,512
Hawaiian Electric Industries, Inc.		2,245		77,812
IDACORP, Inc.		647		64,059
NextEra Energy, Inc.		37,492		2,939,748
NRG Energy, Inc.		6,256		239,417
OGE Energy Corp.		3,314		120,828
PG&E Corp. *		2,100		26,250
Pinnacle West Capital Corp.		1,978		127,601
PNM Resources, Inc.		2,100		96,033
Portland General Electric Co.		1,411		61,322
PPL Corp.		9,200		233,220
Southern Co. (The)		17,830		1,212,440

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Electric Utilities (Continued)*
Xcel Energy, Inc.		9,222	$	590,208

				10,782,786

*Electrical Equipment — 0.6%*
Acuity Brands, Inc.		1,000		157,470
AMETEK, Inc.		3,933		446,041
Atkore, Inc. *		743		57,813
Eaton Corp. PLC		5,446		726,279
Emerson Electric Co.		9,630		705,109
Generac Holdings, Inc. *		967		172,261
Hubbell, Inc.		1,149		256,227
nVent Electric PLC		2,290		72,387
Plug Power, Inc. *@		670		14,077
Regal Rexnord Corp.		1,234		173,204
Rockwell Automation, Inc.		2,472		531,752
Sensata Technologies Holding PLC		2,621		97,711
Sunrun, Inc. *		1,483		40,916

				3,451,247

*Electronic Equipment, Instruments & Components — 0.7%*
Amphenol Corp., Class A		12,045		806,533
Arrow Electronics, Inc. *		830		76,518
Avnet, Inc.		944		34,097
CDW Corp.		2,939		458,719
Cognex Corp.		1,711		70,921
Coherent Corp. *		900		31,365
Corning, Inc.		8,949		259,700
Fabrinet*		506		48,298
Flex Ltd. *		7,316		121,885
Insight Enterprises, Inc. *		300		24,723
IPG Photonics Corp. *		471		39,729
Jabil, Inc.		3,689		212,892
Keysight Technologies, Inc. *		3,226		507,643
Littelfuse, Inc.		380		75,502
National Instruments Corp.		1,428		53,893
Novanta, Inc. *		661		76,445
TD SYNNEX Corp.		1,139		92,475
TE Connectivity Ltd.		3,575		394,537
Teledyne Technologies, Inc. *		573		193,370
Trimble, Inc. *		2,830		153,584
Zebra Technologies Corp., Class A *		919		240,787

				3,973,616

*Energy Equipment & Services — 0.2%*
Baker Hughes Co.		3,464		72,606
ChampionX Corp.		3,461		67,732
Halliburton Co.		11,690		287,808
Helmerich & Payne, Inc.		805		29,761
NOV, Inc.		4,002		64,752
Schlumberger NV		12,666		454,709
TechnipFMC PLC *		4,963		41,987

				1,019,355

*Entertainment — 0.9%*
Activision Blizzard, Inc.		9,560		710,690
Electronic Arts, Inc.		2,838		328,385
Endeavor Group Holdings, Inc., Class A *		1,972		39,953
Liberty Media Corp.-Liberty Formula One, Class A *		315		16,544
Liberty Media Corp.-Liberty Formula One, Class C *		2,102		122,967


	SHARES		VALUE†
Live Nation Entertainment, Inc. *		2,466	$	187,515
Madison Square Garden Sports Corp. *		279		38,128
Netflix, Inc. *		4,747		1,117,634
Spotify Technology SA *		385		33,225
Take-Two Interactive Software, Inc. *		2,052		223,668
Walt Disney Co. (The) *		18,097		1,707,090
Warner Bros Discovery, Inc. *		12,527		144,060
Warner Music Group Corp., Class A		1,467		34,049
World Wrestling Entertainment, Inc., Class A		628		44,067

				4,747,975

*Food & Staples Retailing — 1.7%*
Albertsons Cos., Inc. Class A		714		17,750
BJ’s Wholesale Club Holdings, Inc. *		2,341		170,448
Casey’s General Stores, Inc.		774		156,751
Costco Wholesale Corp.		8,735		4,125,279
Grocery Outlet Holding Corp. *		1,046		34,821
Kroger Co. (The)		17,571		768,731
Performance Food Group Co. *		1,336		57,381
Sprouts Farmers Market, Inc. *		1,478		41,015
Sysco Corp.		9,579		677,331
US Foods Holding Corp. *		1,600		42,304
Walgreens Boots Alliance, Inc.		6,082		190,975
Walmart, Inc.		25,166		3,264,030

				9,546,816

*Food Products — 1.0%*
Archer-Daniels-Midland Co.		4,142		333,224
Bunge Ltd.		1,401		115,681
Campbell Soup Co.		4,243		199,930
Conagra Brands, Inc.		3,575		116,652
Darling Ingredients, Inc. *		3,101		205,131
Flowers Foods, Inc.		3,652		90,168
General Mills, Inc.		8,511		652,028
Hershey Co. (The)		2,946		649,505
Hormel Foods Corp.		4,014		182,396
Hostess Brands, Inc. *		1,697		39,438
Ingredion, Inc.		1,590		128,027
J.M. Smucker Co. (The)		1,268		174,236
Kellogg Co.		5,495		382,782
Kraft Heinz Co. (The)		5,057		168,651
Lamb Weston Holdings, Inc.		4,603		356,180
Lancaster Colony Corp.		522		78,446
McCormick & Co., Inc.		405		29,638
McCormick & Co., Inc.		3,171		225,997
Mondelez International, Inc., Class A		11,759		644,746
Pilgrim’s Pride Corp. *		1,700		39,134
Post Holdings, Inc. *		1,501		122,947
Seaboard Corp.		11		37,429
Tyson Foods, Inc., Class A		5,064		333,869

				5,306,235

*Gas Utilities — 0.1%*
Atmos Energy Corp.		2,360		240,366
National Fuel Gas Co.		1,600		98,480
New Jersey Resources Corp.		954		36,920
ONE Gas, Inc.		249		17,527
South Jersey Industries, Inc.		884		29,543
Southwest Gas Holdings, Inc.		1,343		93,674
Spire, Inc.		549		34,219

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Gas Utilities (Continued)*
UGI Corp.		2,799	$	90,492

				641,221

*Health Care Equipment & Supplies — 1.8%*
Abbott Laboratories		23,514		2,275,215
Abiomed, Inc. *		350		85,981
Align Technology, Inc. *		833		172,523
Baxter International, Inc.		7,728		416,230
Becton Dickinson & Co.		2,001		445,883
Boston Scientific Corp. *		10,979		425,217
Cooper Cos., Inc. (The)		521		137,492
Dentsply Sirona, Inc.		1,213		34,389
DexCom, Inc. *		2,749		221,404
Edwards Lifesciences Corp. *		8,835		730,036
Envista Holdings Corp. *		2,222		72,904
Globus Medical, Inc., Class A *		1,500		89,355
Haemonetics Corp. *		657		48,638
Hologic, Inc. *		4,904		316,406
ICU Medical, Inc. *		98		14,759
Idexx Laboratories, Inc. *		2,000		651,600
Insulet Corp. *		740		169,756
Integra LifeSciences Holdings Corp. *		1,168		49,476
Intuitive Surgical, Inc. *		1,973		369,819
Lantheus Holdings, Inc. *		601		42,268
Masimo Corp. *		608		85,825
Medtronic PLC		9,595		774,796
Merit Medical Systems, Inc. *		769		43,456
Neogen Corp. *		7,062		98,656
Novocure Ltd. *		300		22,794
Omnicell, Inc. *		500		43,515
Penumbra, Inc. *		389		73,754
ResMed, Inc.		2,579		562,996
Shockwave Medical, Inc. *		212		58,951
STAAR Surgical Co. *		630		44,447
STERIS plc		889		147,823
Stryker Corp.		4,501		911,633
Teleflex, Inc.		364		73,331
Zimmer Biomet Holdings, Inc.		1,186		123,996

				9,835,324

*Health Care Providers & Services — 3.4%*
Acadia Healthcare Co., Inc. *		1,169		91,392
agilon health, Inc. *		1,131		26,488
Amedisys, Inc. *		578		55,945
AmerisourceBergen Corp.		2,652		358,895
AMN Healthcare Services, Inc. *		799		84,662
Cardinal Health, Inc.		3,943		262,919
Centene Corp. *		4,920		382,825
Chemed Corp.		339		147,994
CIGNA Corp.		5,306		1,472,256
CVS Health Corp.		14,844		1,415,672
DaVita, Inc. *		2,100		173,817
Elevance Health, Inc.		3,677		1,670,240
Encompass Health Corp.		2,141		96,837
Enhabit, Inc. *		1,070		15,023
Ensign Group, Inc. (The)		687		54,617
HCA Healthcare, Inc.		3,366		618,637
HealthEquity, Inc. *		331		22,233
Henry Schein, Inc. *		3,048		200,467
Humana, Inc.		2,029		984,451
Laboratory Corp. of America Holdings		1,685		345,105
McKesson Corp.		2,992		1,016,891
Molina Healthcare, Inc. *		1,058		348,971
Option Care Health, Inc. *		1,563		49,188


	SHARES		VALUE†
Premier, Inc., Class A		1,383	$	46,939
Quest Diagnostics, Inc.		2,455		301,204
R1 RCM, Inc. *		1,861		34,484
Select Medical Holdings Corp.		1,347		29,769
Tenet Healthcare Corp. *		1,281		66,074
UnitedHealth Group, Inc.		16,609		8,388,209
Universal Health Services, Inc., Class B		1,628		143,557

				18,905,761

*Health Care Technology — 0.1%*
Change Healthcare, Inc. *		7,084		194,739
Veeva Systems, Inc., Class A *		1,334		219,950

				414,689

*Hotels, Restaurants & Leisure — 1.8%*
Aramark		2,445		76,284
Booking Holdings, Inc. *		578		949,775
Boyd Gaming Corp.		1,142		54,416
Chipotle Mexican Grill, Inc. *		423		635,667
Choice Hotels International, Inc.		1,000		109,520
Churchill Downs, Inc.		524		96,495
Darden Restaurants, Inc.		2,002		252,893
Domino’s Pizza, Inc.		716		222,103
Expedia Group, Inc. *		1,275		119,455
Hilton Worldwide Holdings, Inc.		3,388		408,661
Hyatt Hotels Corp., Class A *		300		24,288
Las Vegas Sands Corp. *		3,185		119,501
Marriott International, Inc., Class A		5,910		828,227
Marriott Vacations Worldwide Corp.		750		91,395
McDonald’s Corp.		12,813		2,956,472
MGM Resorts International		3,426		101,821
Penn Entertainment, Inc. *		1,589		43,713
Planet Fitness, Inc. Class A *		1,127		64,983
Royal Caribbean Cruises Ltd. *		2,550		96,645
SeaWorld Entertainment, Inc. *		920		41,869
Starbucks Corp.		19,320		1,627,903
Texas Roadhouse, Inc.		1,257		109,686
Travel + Leisure Co.		1,126		38,419
Vail Resorts, Inc.		666		143,616
Wendy’s Co. (The)		5,687		106,290
Wingstop, Inc.		324		40,636
Wyndham Hotels & Resorts, Inc.		1,765		108,283
Wynn Resorts Ltd. *@		738		46,516
Yum! Brands, Inc.		5,152		547,864

				10,063,396

*Household Durables — 0.3%*
DR Horton, Inc.		5,753		387,464
Garmin Ltd.		2,389		191,861
Leggett & Platt, Inc.		3,378		112,217
Lennar Corp., B Shares		72		4,285
Lennar Corp., Class A		3,122		232,745
Mohawk Industries, Inc. *		600		54,714
Newell Brands, Inc.		1,165		16,182
NVR, Inc. *		68		271,121
PulteGroup, Inc.		4,404		165,150
Skyline Champion Corp. *		476		25,166
Tempur Sealy International, Inc.		3,440		83,042
Toll Brothers, Inc.		1,650		69,300
TopBuild Corp. *		500		82,390
Whirlpool Corp.		1,555		209,630

				1,905,267

*Household Products — 1.5%*
Church & Dwight Co., Inc.		4,542		324,480
Clorox Co. (The)		2,311		296,709
Colgate-Palmolive Co.		15,714		1,103,909

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Household Products (Continued)*
Kimberly-Clark Corp.		5,955	$	670,176
Procter & Gamble Co. (The)		48,462		6,118,327
Reynolds Consumer Products, Inc.		878		22,837

				8,536,438

*Independent Power Producers & Energy Traders — 0.1%*
AES Corp. (The)		11,000		248,600
Atlantica Sustainable Infrastructure PLC		700		18,410
Clearway Energy, Inc., Class A		1,270		36,957
Clearway Energy, Inc., Class C		2,400		76,440
Ormat Technologies, Inc.		741		63,874
Vistra Corp.		3,161		66,381

				510,662

*Industrial Conglomerates — 0.7%*
3M Co.		13,151		1,453,186
General Electric Co.		2,729		168,952
Honeywell International, Inc.		12,821		2,140,722

				3,762,860

*Insurance — 1.9%*
Aflac, Inc.		7,013		394,131
Alleghany Corp. *		167		140,175
Allstate Corp. (The)		2,925		364,250
American Equity Investment Life Holding Co.		788		29,385
American Financial Group, Inc.		527		64,784
American International Group, Inc.		4,355		206,775
Aon PLC, Class A		4,982		1,334,528
Arch Capital Group Ltd. *		3,373		153,606
Arthur J. Gallagher & Co.		2,175		372,403
Assurant, Inc.		1,143		166,044
Assured Guaranty Ltd.		900		43,605
Axis Capital Holdings Ltd.		1,300		63,895
Brighthouse Financial, Inc. *		674		29,265
Brown & Brown, Inc.		4,399		266,051
Chubb Ltd.		3,276		595,839
Cincinnati Financial Corp.		1,150		103,005
CNA Financial Corp.		943		34,797
Enstar Group Ltd. *		300		50,877
Erie Indemnity Co., Class A		545		121,159
Everest Re Group Ltd.		191		50,126
Fidelity National Financial, Inc.		4,510		163,262
First American Financial Corp.		2,368		109,165
Globe Life, Inc.		1,141		113,758
Hanover Insurance Group, Inc. (The)		696		89,185
Hartford Financial Services Group, Inc. (The)		4,796		297,064
Kinsale Capital Group, Inc.		257		65,643
Lincoln National Corp.		2,031		89,181
Loews Corp.		1,471		73,315
Markel Corp. *		100		108,422
Marsh & McLennan Cos., Inc.		9,000		1,343,610
MBIA, Inc. *		3,600		33,120
MetLife, Inc.		4,850		294,783
Old Republic International Corp.		2,863		59,923
Primerica, Inc.		919		113,451
Principal Financial Group, Inc.		2,619		188,961
Progressive Corp. (The)		8,028		932,934
Prudential Financial, Inc.		2,294		196,779


	SHARES		VALUE†
Reinsurance Group of America, Inc.		777	$	97,754
RenaissanceRe Holdings Ltd.		783		109,925
RLI Corp.		700		71,666
Selective Insurance Group, Inc.		829		67,481
Travelers Companies, Inc. (The)		5,274		807,977
Unum Group		1,700		65,960
W. R. Berkley Corp.		2,655		171,460
White Mountains Insurance Group Ltd.		33		43,000
Willis Towers Watson PLC		1,050		210,987

				10,503,466

*Interactive Media & Services — 4.3%*
Alphabet, Inc., Class A *		91,160		8,719,454
Alphabet, Inc., Class C *		89,820		8,636,193
Bumble, Inc., Class A *@		861		18,503
Match Group, Inc. *		3,467		165,549
Meta Platforms, Inc., Class A *		40,998		5,562,609
Pinterest, Inc., Class A *		810		18,873
Snap, Inc., Class A *		3,870		38,003
Twitter, Inc. *		5,999		262,996
Ziff Davis, Inc. *		1,013		69,370
Zillow Group, Inc., Class A *		436		12,483
Zillow Group, Inc., Class C *@		1,159		33,159
ZoomInfo Technologies, Inc. *		878		36,578

				23,573,770

*Internet & Catalog Retail — 3.7%*
Amazon.com, Inc. *		176,560		19,951,280
eBay, Inc.		9,533		350,910
Etsy, Inc. *		2,334		233,703

				20,535,893

*IT Services — 5.0%*
Accenture PLC, Class A		12,877		3,313,252
Akamai Technologies, Inc. *		2,286		183,612
Amdocs Ltd.		2,698		214,356
Automatic Data Processing, Inc.		9,817		2,220,507
Block, Inc., Class A *		2,826		155,402
Broadridge Financial Solutions, Inc.		2,485		358,635
Cognizant Technology Solutions Corp., Class A		8,574		492,491
Concentrix Corp.		1,139		127,147
DXC Technology Co. *		2,810		68,789
EPAM Systems, Inc. *		781		282,870
Euronet Worldwide, Inc. *		911		69,017
ExlService Holdings, Inc. *		264		38,903
Fidelity National Information Services, Inc.		5,983		452,135
Fiserv, Inc. *		5,324		498,167
FleetCor Technologies, Inc. *		1,396		245,933
Gartner, Inc. *		1,713		473,970
Genpact Ltd.		2,839		124,263
Global Payments, Inc.		3,120		337,116
Globant SA *		394		73,710
GoDaddy, Inc., Class A *		2,137		151,471
International Business Machines Corp.		20,148		2,393,784
Jack Henry & Associates, Inc.		1,300		236,951
MasterCard, Inc., Class A		21,634		6,151,412
Maximus, Inc.		1,464		84,722
MongoDB, Inc. *		284		56,391
Okta, Inc. *		1,243		70,689
Paychex, Inc.		5,938		666,303
PayPal Holdings, Inc. *		12,255		1,054,788

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*IT Services (Continued)*
Snowflake, Inc., Class A *		1,051	$	178,628
SS&C Technologies Holdings, Inc.		3,246		154,996
Switch, Inc., Class A		1,080		36,385
Twilio, Inc., Class A *		1,065		73,634
VeriSign, Inc. *		1,702		295,637
Visa, Inc., Class A		34,029		6,045,252
Western Union Co. (The)		6,874		92,799
WEX, Inc. *		663		84,161

				27,558,278

*Leisure Equipment & Products — 0.1%*
Acushnet Holdings Corp.		993		43,186
Brunswick Corp.		1,810		118,464
Hasbro, Inc.		2,087		140,706
Mattel, Inc. *		6,862		129,966
Polaris, Inc.		1,034		98,902
Topgolf Callaway Brands Corp. *		982		18,913

				550,137

*Life Sciences Tools & Services — 1.5%*
Agilent Technologies, Inc.		3,928		477,448
Avantor, Inc. *		4,257		83,437
Azenta, Inc.		1,100		47,146
Bio-Rad Laboratories, Inc., Class A *		223		93,022
Bio-Techne Corp.		473		134,332
Bruker Corp.		2,044		108,455
Charles River Laboratories International, Inc. *		640		125,952
Danaher Corp.		6,554		1,692,833
Illumina, Inc. *		1,577		300,876
IQVIA Holdings, Inc. *		2,790		505,381
Maravai LifeSciences Holdings, Inc., Class A *		2,496		63,723
Medpace Holdings, Inc. *		500		78,585
Mettler-Toledo International, Inc. *		519		562,658
PerkinElmer, Inc.		2,006		241,382
Repligen Corp. *		355		66,424
Sotera Health Co. *		1,385		9,446
Syneos Health, Inc. *		927		43,708
Thermo Fisher Scientific, Inc.		5,401		2,739,333
Waters Corp. *		1,391		374,916
West Pharmaceutical Services, Inc.		1,211		298,003

				8,047,060

*Machinery — 2.1%*
AGCO Corp.		1,297		124,732
Allison Transmission Holdings, Inc.		1,376		46,454
Caterpillar, Inc.		12,969		2,127,954
Chart Industries, Inc. *@		200		36,870
Crane Holdings Co.		1,115		97,607
Cummins, Inc.		2,675		544,389
Deere & Co.		7,430		2,480,803
Donaldson Co., Inc.		2,651		129,925
Dover Corp.		2,615		304,857
Esab Corp.		564		18,815
Evoqua Water Technologies Corp. *		1,408		46,563
Flowserve Corp.		1,775		43,132
Fortive Corp.		3,548		206,848
Franklin Electric Co., Inc.		300		24,513
Graco, Inc.		3,370		202,031
IDEX Corp.		1,004		200,649
Illinois Tool Works, Inc.		6,946		1,254,795
Ingersoll Rand, Inc.		3,972		171,829
ITT, Inc.		2,081		135,973


	SHARES		VALUE†
Lincoln Electric Holdings, Inc.		1,491	$	187,449
Middleby Corp. (The) *		1,043		133,681
Mueller Industries, Inc.		388		23,063
Nordson Corp.		848		180,005
Oshkosh Corp.		1,700		119,493
Otis Worldwide Corp.		5,642		359,960
PACCAR, Inc.		5,660		473,685
Parker-Hannifin Corp.		2,575		623,948
Pentair PLC		1,393		56,598
RBC Bearings, Inc. *		421		87,488
Snap-On, Inc.		1,143		230,143
Stanley Black & Decker, Inc.		2,408		181,106
Timken Co., (The)		1,644		97,062
Toro Co. (The)		2,683		232,026
Watts Water Technologies, Inc., Class A		400		50,292
Westinghouse Air Brake Technologies Corp.		1,144		93,064
Xylem, Inc.		2,293		200,316

				11,528,118

*Marine — 0.0%*
Kirby Corp. *		322		19,568

*Media — 0.8%*
Cable One, Inc.		101		86,158
Charter Communications, Inc., Class A *		2,672		810,551
Comcast Corp., Class A		65,506		1,921,291
DISH Network Corp., Class A *		43		595
Fox Corp. Class A		3,686		113,086
Fox Corp. Class B		661		18,839
Interpublic Group of Cos., Inc. (The)		6,061		155,162
Liberty Broadband Corp., Class A *		315		23,499
Liberty Broadband Corp., Class C *		1,371		101,180
Liberty Media Corp.-Liberty Siriusxm, Class A *		1,263		48,082
Liberty Media Corp.-Liberty Siriusxm, Class C *		1,178		44,422
New York Times Co. (The), Class A		1,641		47,179
News Corp., Class A		3,913		59,125
News Corp., Class B		1,525		23,516
Nexstar Media Group, Inc. Class A		900		150,165
Omnicom Group, Inc.		4,831		304,788
Paramount Global, Class A @		616		13,269
Paramount Global, Class B @		1,143		21,763
Sirius XM Holdings, Inc. @		12,754		72,825
TEGNA, Inc.		2,624		54,264
Trade Desk, Inc. (The), Class A *		4,830		288,592

				4,358,351

*Metals & Mining — 0.4%*
Alcoa Corp.		2,296		77,283
Cleveland-Cliffs, Inc. *		2,915		39,265
Commercial Metals Co.		1,475		52,333
Freeport-McMoRan, Inc.		23,281		636,270
MP Materials Corp. *		923		25,198
Newmont Corp.		7,854		330,104
Nucor Corp.		5,263		563,089
Reliance Steel & Aluminum Co.		1,403		244,697
Royal Gold, Inc.		1,115		104,609
Southern Copper Corp.		1,769		79,322
Steel Dynamics, Inc.		3,175		225,266
United States Steel Corp.		2,198		39,828

				2,417,264

*Multi-Utilities — 0.8%*
Ameren Corp.		3,328		268,070
Black Hills Corp.		1,300		88,049

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Multi-Utilities (Continued)*
Centerpoint Energy, Inc.		6,700	$	188,806
CMS Energy Corp.		5,199		302,790
Consolidated Edison, Inc.		5,063		434,203
Dominion Energy, Inc.		13,388		925,245
DTE Energy Co.		3,247		373,567
NiSource, Inc.		5,791		145,875
NorthWestern Corp.		858		42,282
Public Service Enterprise Group, Inc.		8,415		473,176
Sempra Energy		4,736		710,116
WEC Energy Group, Inc.		4,990		446,256

				4,398,435

*Multiline Retail — 0.7%*
Dollar General Corp.		5,731		1,374,638
Dollar Tree, Inc. *		2,486		338,344
Macy’s, Inc.		4,200		65,814
Ollie’s Bargain Outlet Holdings, Inc. *		691		35,656
Target Corp.		13,538		2,008,904

				3,823,356

*Oil, Gas & Consumable Fuels — 3.4%*
Antero Midstream Corp.		3,600		33,048
Antero Resources Corp. *		3,300		100,749
APA Corp.		5,617		192,045
Cheniere Energy, Inc.		5,110		847,800
Chesapeake Energy Corp. @		918		86,485
Chevron Corp.		20,184		2,899,835
Chord Energy Corp.		466		63,735
Comstock Resources, Inc. *		2,670		46,164
ConocoPhillips		18,168		1,859,313
Continental Resources, Inc.		1,157		77,299
Coterra Energy, Inc.		8,623		225,233
CVR Energy, Inc.		1,186		34,370
Denbury, Inc. *		300		25,878
Devon Energy Corp.		12,088		726,851
Diamondback Energy, Inc.		2,249		270,915
DT Midstream, Inc. *		1,623		84,217
EOG Resources, Inc.		9,574		1,069,703
EQT Corp.		3,800		154,850
Exxon Mobil Corp.		51,529		4,498,997
Hess Corp.		4,540		494,815
HF Sinclair Corp.		2,161		116,348
Kinder Morgan, Inc.		8,265		137,530
Magnolia Oil & Gas Corp., Class A		1,900		37,639
Marathon Oil Corp.		8,798		198,659
Marathon Petroleum Corp.		5,516		547,904
Matador Resources Co.		1,362		66,629
Murphy Oil Corp.		1,330		46,776
New Fortress Energy, Inc.		1,001		43,754
Occidental Petroleum Corp.		18,731		1,151,020
ONEOK, Inc.		6,698		343,206
Ovintiv, Inc.		3,582		164,772
PBF Energy, Inc., Class A *		1,038		36,496
PDC Energy, Inc.		985		56,923
Peabody Energy Corp. *@		1,941		48,176
Phillips 66		3,291		265,650
Pioneer Natural Resources Co.		3,066		663,881
Range Resources Corp.		3,129		79,039
SM Energy Co.		1,784		67,096
Southwestern Energy Co. *		8,393		51,365


	SHARES		VALUE†
Targa Resources Corp.		1,997	$	120,499
Texas Pacific Land Corp.		58		103,079
Valero Energy Corp.		4,073		435,200
Williams Cos., Inc. (The)		13,491		386,247

				18,960,190

*Paper & Forest Products — 0.0%*
Louisiana-Pacific Corp.		1,880		96,237

*Personal Products — 0.2%*
Coty, Inc., Class A *		2,516		15,901
Estee Lauder Companies, Inc. (The), Class A		4,869		1,051,217

				1,067,118

*Pharmaceuticals — 5.0%*
Bristol-Myers Squibb Co.		33,566		2,386,207
Catalent, Inc. *		2,337		169,105
Elanco Animal Health, Inc. *		4,517		56,056
Eli Lilly & Co.		19,445		6,287,541
Jazz Pharmaceuticals PLC *		1,092		145,553
Johnson & Johnson		55,065		8,995,418
Merck & Co., Inc.		47,673		4,105,599
Organon & Co.		4,671		109,301
Perrigo Co. PLC		1,790		63,831
Pfizer, Inc.		79,600		3,483,296
Royalty Pharma PLC, Class A		2,744		110,254
Viatris, Inc.		10,369		88,344
Zoetis, Inc.		11,289		1,674,046

				27,674,551

*Professional Services — 0.6%*
ASGN, Inc. *		677		61,181
Booz Allen Hamilton Holding Corp.		3,549		327,750
CACI International, Inc., Class A *		656		171,255
Clarivate PLC *		1,732		16,263
CoStar Group, Inc. *		2,890		201,289
Dun & Bradstreet Holdings, Inc.		2,459		30,467
Equifax, Inc.		1,711		293,317
Exponent, Inc.		799		70,048
FTI Consulting, Inc. *		662		109,700
Insperity, Inc.		451		46,043
Jacobs Solutions, Inc.		1,338		145,160
KBR, Inc.		2,987		129,098
Leidos Holdings, Inc.		2,174		190,160
Manpowergroup, Inc.		1,600		103,504
Nielsen Holdings PLC		4,300		119,196
Robert Half International, Inc.		2,642		202,113
Science Applications International Corp.		1,371		121,238
TransUnion		2,647		157,470
TriNet Group, Inc. *		865		61,605
Verisk Analytics, Inc.		3,116		531,371

				3,088,228

*Real Estate Management & Development — 0.1%*
CBRE Group, Inc., Class A *		5,492		370,765
Jones Lang LaSalle, Inc. *		1,100		166,177

				536,942

*Road & Rail — 1.3%*
AMERCO		152		77,401
Avis Budget Group, Inc. *		673		99,914
CSX Corp.		47,289		1,259,779
Hertz Global Holdings, Inc. *@		1,191		19,389

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†
COMMON STOCKS (Continued)
*Road & Rail (Continued)*
JB Hunt Transport Services, Inc.		2,271	$	355,230
Knight-Swift Transportation Holdings, Inc.		2,249		110,044
Landstar System, Inc.		1,073		154,909
Norfolk Southern Corp.		4,620		968,583
Old Dominion Freight Line, Inc.		1,937		481,867
Saia, Inc. *		200		38,000
Schneider National, Inc., Class B		1,939		39,362
Uber Technologies, Inc. *		9,836		260,654
Union Pacific Corp.		15,597		3,038,607
XPO Logistics, Inc. *		1,934		86,102

				6,989,841

*Semiconductors & Semiconductor Equipment — 5.0%*
Advanced Micro Devices, Inc. *		15,994		1,013,380
Amkor Technology, Inc.		2,141		36,504
Analog Devices, Inc.		4,750		661,865
Applied Materials, Inc.		20,575		1,685,710
*Broadcom, Inc.*		9,251		4,107,537
Cirrus Logic, Inc. *		1,237		85,106
Enphase Energy, Inc. *		1,883		522,476
Entegris, Inc.		2,634		218,675
First Solar, Inc. *		1,023		135,312
Intel Corp.		58,527		1,508,241
KLA Corp.		3,591		1,086,744
Lam Research Corp.		3,492		1,278,072
Lattice Semiconductor Corp. *		1,742		85,724
MACOM Technology Solutions Holdings, Inc. *		878		45,472
Marvell Technology, Inc.		6,428		275,825
Microchip Technology, Inc.		8,612		525,590
Micron Technology, Inc.		15,518		777,452
MKS Instruments, Inc.		1,252		103,465
Monolithic Power Systems, Inc.		581		211,135
NVIDIA Corp.		43,332		5,260,071
NXP Semiconductors NV		400		59,004
ON Semiconductor Corp. *		8,229		512,914
Onto Innovation, Inc. *		307		19,663
Power Integrations, Inc.		846		54,415
Qorvo, Inc. *		1,637		129,994
QUALCOMM, Inc.		25,043		2,829,358
Silicon Laboratories, Inc. *		600		74,064
Skyworks Solutions, Inc.		3,226		275,081
SolarEdge Technologies, Inc. *		455		105,314
Synaptics, Inc. *		1		99
Teradyne, Inc.		3,943		296,316
Texas Instruments, Inc.		21,009		3,251,773
Universal Display Corp.		786		74,159
Wolfspeed, Inc. *@		857		88,580

				27,395,090

*Software — 8.2%*
Adobe, Inc. *		9,085		2,500,192
Alarm.com Holdings, Inc. *		692		44,883
ANSYS, Inc. *		813		180,242
Aspen Technology, Inc. *		923		219,859
Atlassian Corp. PLC, Class A *		1,245		262,185
Autodesk, Inc. *		2,329		435,057
Bentley Systems, Inc., Class B		2,343		71,672
Bill.com Holdings, Inc. *		791		104,705
Black Knight, Inc. *		2,102		136,062
Box, Inc., Class A *		2,773		67,633
Cadence Design Systems, Inc. *		5,024		821,072
Ceridian HCM Holding, Inc. *		995		55,601
Citrix Systems, Inc. <>		2,573		267,592


	SHARES		VALUE†
Crowdstrike Holdings, Inc., Class A *		825	$	135,968
Datadog, Inc., Class A *		1,407		124,913
DocuSign, Inc. *		500		26,735
Dolby Laboratories, Inc., Class A		938		61,111
DoubleVerify Holdings, Inc. *		1,981		54,180
Dropbox, Inc., Class A *		2,689		55,716
Dynatrace, Inc. *		1,205		41,946
Fair Isaac Corp. *		488		201,061
Five9, Inc. *		200		14,996
Fortinet, Inc. *		13,845		680,205
Guidewire Software, Inc. *		801		49,326
HubSpot, Inc. *		406		109,669
Intuit, Inc.		3,683		1,426,500
Manhattan Associates, Inc. *		2,300		305,969
Microsoft Corp.		130,116		30,304,016
NCR Corp. *		591		11,235
NortonLifeLock, Inc.		5,861		118,041
Oracle Corp.		26,244		1,602,721
Palantir Technologies, Inc., Class A *		13,943		113,357
Palo Alto Networks, Inc. *		2,385		390,639
Paycom Software, Inc. *		888		293,031
Paylocity Holding Corp. *		668		161,375
Procore Technologies, Inc. *		810		40,079
PTC, Inc. *		1,031		107,843
Qualys, Inc. *		503		70,113
Roper Technologies, Inc.		1,156		415,744
Salesforce, Inc. *		7,199		1,035,504
ServiceNow, Inc. *		1,610		607,952
Splunk, Inc. *		1,045		78,584
SPS Commerce, Inc. *		393		48,822
Synopsys, Inc. *		1,737		530,671
Teradata Corp. *		1,256		39,011
Tyler Technologies, Inc. *		424		147,340
VMware, Inc., Class A		2,695		286,910
Workday, Inc., Class A *		981		149,328
Zendesk, Inc. *		1,234		93,907
Zoom Video Communications, Inc., Class A *		1,484		109,208
Zscaler, Inc. *		705		115,881

				45,326,362

*Specialty Retail — 2.5%*
Academy Sports & Outdoors, Inc.		1,110		46,820
Advance Auto Parts, Inc.		1,238		193,549
AutoNation, Inc. *		961		97,897
AutoZone, Inc. *		433		927,456
Bath & Body Works, Inc.		600		19,560
Best Buy Co., Inc.		6,478		410,316
Burlington Stores, Inc. *		571		63,889
Carmax, Inc. *		2,905		191,788
Carvana Co. *@		614		12,464
Dick’s Sporting Goods, Inc.		1,695		177,365
Five Below, Inc. *		1,000		137,670
Floor & Decor Holdings, Inc., Class A *		701		49,252
Foot Locker, Inc.		1,146		35,675
Home Depot, Inc. (The)		16,895		4,662,006
Lithia Motors, Inc.		199		42,695
Lowe’s Cos., Inc.		11,397		2,140,471
Murphy USA, Inc.		1,116		306,800
O’Reilly Automotive, Inc. *		1,311		922,092
Penske Automotive Group, Inc.		658		64,767
RH*		330		81,203
Ross Stores, Inc.		6,470		545,227
TJX Cos., Inc. (The)		27,206		1,690,037
Tractor Supply Co.		2,732		507,824

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

SA U.S. Core Market Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


	SHARES		VALUE†

COMMON STOCKS (Continued)
*Specialty Retail (Continued)*
Ulta Beauty, Inc. *		984	$	394,771
Williams-Sonoma, Inc.		2,400		282,840

				14,004,434

*Textiles, Apparel & Luxury Goods —0.7%*
Capri Holdings Ltd. *		1,085		41,707
Columbia Sportswear Co.		858		57,743
Deckers Outdoor Corp. *		473		147,865
Lululemon Athletica, Inc. *		2,254		630,128
NIKE, Inc., Class B		26,906		2,236,427
PVH Corp.		760		34,048
Ralph Lauren Corp.		1,100		93,423
Skechers U.S.A., Inc., Class A *		1,800		57,096
Tapestry, Inc.		5,352		152,157
Under Armour, Inc., Class A *		2,760		18,354
Under Armour, Inc., Class C *		2,884		17,189
VF Corp.		5,509		164,774

				3,650,911

*Thrifts & Mortgage Finance — 0.0%*
Essent Group Ltd.		700		24,409
MGIC Investment Corp.		4,400		56,408
New York Community Bancorp, Inc. @		6,032		51,453
Rocket Cos, Inc.Class A		3,544		22,398
TFS Financial Corp.		1,093		14,209
Walker & Dunlop, Inc.		353		29,557
WSFS Financial Corp.		417		19,374

				217,808

*Tobacco — 0.5%*
Altria Group, Inc.		27,551		1,112,509
Philip Morris International, Inc.		21,397		1,776,165

				2,888,674

*Trading Companies & Distributors — 0.4%*
Air Lease Corp.		1,296		40,189
Applied Industrial Technologies, Inc.		374		38,440
Beacon Roofing Supply, Inc. *		1,400		76,608
Fastenal Co.		12,697		584,570
GATX Corp.		410		34,911
Herc Holdings, Inc.		387		40,202
MSC Industrial Direct Co., Inc., Class A		1,100		80,091
SiteOne Landscape Supply, Inc. *		654		68,108
Triton International Ltd.		400		21,892
United Rentals, Inc. *		2,064		557,528
Univar Solutions, Inc. *		2,156		49,027
Watsco, Inc.		474		122,036
WESCO International, Inc. *		596		71,150
WW Grainger, Inc.		1,097		536,641

				2,321,393

*Water Utilities — 0.1%*
American States Water Co.		626		48,797
American Water Works Co., Inc.		3,475		452,306
California Water Service Group		380		20,022
Essential Utilities, Inc.		3,662		151,533

				672,658

*Wireless Telecommunication Services —0.2%*
T-Mobile US, Inc. *		8,733		1,171,707

TOTAL COMMON STOCKS (Identified Cost $134,525,303)				527,019,455


	SHARES		VALUE†

MUTUAL FUNDS — 4.2%
*Others — 4.2%*
DFA U.S. Micro Cap Portfolio		1,050,300	$	22,812,511

TOTAL MUTUAL FUNDS (Identified Cost $13,393,976)				22,812,511

SHORT-TERM INVESTMENTS — 0.4%
*Investment Company — 0.4%*
State Street Institutional U.S. Government Money Market Fund 2.690%		2,066,495		2,066,495

				2,066,495

*Collateral For Securities On Loan —0.0%*
State Street Navigator Securities Lending Government Money Market Portfolio, 3.030%		231,230		231,230

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $2,297,725)				2,297,725

Total Investments — 100.1% (Identified Cost $150,217,004)				552,129,691
Liabilities, Less Cash and Other Assets — (0.1%)				(470,409	)

Net Assets — 100.0%			$	551,659,282

†	See Note 1

*	Non-income producing security

@	A portion or all of the security was held on loan. As of September 30, 2022, the fair value of the securities on loan was $976,115.

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

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


Portfolio Sectors as of September 30, 2022
(As a percentage of long-term investments) (Unaudited)


Sector	Percentage
Information Technology		28.5	%
Health Care		14.3	%
Financials		12.5	%
Consumer Discretionary		12.0	%
Industrials		9.5	%
Communication Services		7.1	%
Consumer Staples		7.0	%
Energy		3.6	%
Utilities		3.1	%
Materials		2.4	%

		100.0	%

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


		FACE AMOUNT		VALUE†
BONDS AND NOTES — 97.8%
*Australia — 8.8%*
Australia & New Zealand Banking Group Ltd., 3.700%, 11/16/25	USD		1,000,000	$	965,613
Commonwealth Bank of Australia, 1.125%, 6/15/26 ±	USD		11,800,000		10,299,553
National Australia Bank Ltd., 0.250%, 5/20/24	EUR		500,000		468,661
National Australia Bank Ltd., 1.388%, 1/12/25 ±	USD		600,000		555,680
National Australia Bank Ltd., 2.900%, 2/25/27	AUD		1,000,000		587,163
National Australia Bank Ltd., 3.375%, 1/14/26	USD		8,500,000		8,105,808
New South Wales Treasury Corp., 1.250%, 3/20/25	AUD		500,000		300,516
New South Wales Treasury Corp., 4.000%, 5/20/26	AUD		15,900,000		10,165,627
Queensland Treasury Corp., 3.250%, 7/21/26 ±	AUD		8,500,000		5,290,622
Queensland Treasury Corp., 4.750%, 7/21/25 ±	AUD		1,350,000		881,998
Queensland Treasury Corp., 5.750%, 7/22/24	AUD		700,000		462,543
South Australian Government Financing Authority, 2.250%, 8/15/24	AUD		500,000		310,775
South Australian Government Financing Authority, 3.000%, 7/20/26	AUD		4,300,000		2,652,471
Treasury Corp. of Victoria, 0.500%, 11/20/25	AUD		9,400,000		5,409,706
Treasury Corp. of Victoria, 5.500%, 12/17/24	AUD		500,000		331,097
Western Australian Treasury Corp., 2.500%, 7/23/24	AUD		500,000		312,687
Western Australian Treasury Corp., 5.000%, 7/23/25	AUD		500,000		328,866
Westpac Banking Corp., 1.019%, 11/18/24	USD		2,000,000		1,856,141
Westpac Banking Corp., 1.150%, 6/03/26	USD		6,500,000		5,688,650
Westpac Banking Corp., 2.350%, 2/19/25	USD		3,196,000		3,028,700
Westpac Banking Corp., 2.850%, 5/13/26	USD		4,300,000		4,010,127
Westpac Banking Corp., (3-mo. Swap + 0.950%), 3.254%, 11/16/23 ‡	AUD		100,000		64,254
Westpac Banking Corp., 4.125%, 6/04/26	AUD		2,300,000		1,433,423

					63,510,681

*Austria — 1.0%*
Oesterreichische Kontrollbank AG, 1.250%, 12/15/23	GBP		1,400,000		1,501,966
Oesterreichische Kontrollbank AG, 0.500%, 9/16/24	USD		3,012,000		2,798,587
Republic of Austria Government Bond, 1.650%, 10/21/24 ±	EUR		3,200,000		3,124,484

					7,425,037


		FACE AMOUNT		VALUE†
*Belgium — 0.4%*
Euroclear Bank SA, 0.125%, 7/07/25	EUR		150,000	$	135,354
Kingdom of Belgium Government Bond, 0.500%, 10/22/24 ±	EUR		2,600,000		2,481,949
Kingdom of Belgium Government Bond, 0.800%, 6/22/25 ±	EUR		400,000		380,465

					2,997,768

*Canada — 11.5%*
Bank of Montreal, 2.700%, 9/11/24	CAD		600,000		418,753
Bank of Montreal, 2.890%, 6/20/23	CAD		7,500,000		5,367,733
Canadian Imperial Bank of Commerce, 2.970%, 7/11/23	CAD		7,100,000		5,079,315
CPPIB Capital, Inc., 0.375%, 7/25/23	GBP		1,300,000		1,405,567
CPPIB Capital, Inc., 0.875%, 9/09/26 ±	USD		11,203,000		9,739,758
CPPIB Capital, Inc., 1.250%, 3/04/25	USD		1,500,000		1,390,893
Export Development Canada, 0.000%, 1/27/25 #	EUR		700,000		644,925
Export Development Canada, 1.375%, 12/08/23	GBP		1,366,000		1,468,724
Export Development Canada, 2.625%, 2/21/24	USD		4,085,000		3,989,411
OMERS Finance Trust, 0.450%, 5/13/25	EUR		2,450,000		2,254,176
Ontario Teachers’ Finance Trust, 0.500%, 5/06/25	EUR		1,350,000		1,244,440
Province of Alberta Canada, 0.500%, 4/16/25	EUR		1,900,000		1,759,252
Province of Alberta Canada, 0.625%, 4/18/25	EUR		1,000,000		928,294
Province of Alberta Canada, 2.950%, 1/23/24	USD		1,300,000		1,275,309
Province of Manitoba Canada, 2.600%, 4/16/24	USD		3,000,000		2,919,838
Province of Ontario Canada, 0.500%, 12/15/23	GBP		650,000		689,766
Province of Ontario Canada, 0.875%, 1/21/25	EUR		200,000		187,745
Province of Ontario Canada, 3.050%, 1/29/24	USD		4,500,000		4,419,681
Province of Ontario Canada, 3.100%, 8/26/25	AUD		2,000,000		1,232,221
Province of Ontario Canada, 3.400%, 10/17/23	USD		1,000,000		989,155
Province of Quebec Canada, 0.875%, 1/15/25	EUR		2,400,000		2,254,129
Province of Quebec Canada, 2.500%, 4/09/24	USD		8,158,000		7,935,358
Province of Quebec Canada, 3.700%, 5/20/26	AUD		4,500,000		2,791,692
PSP Capital, Inc., 0.500%, 9/15/24	USD		1,219,000		1,131,322
PSP Capital, Inc., 1.000%, 6/29/26 ±	USD		709,000		622,791

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


		FACE AMOUNT		VALUE†
BONDS AND NOTES (Continued)
*Canada (Continued)*
Royal Bank of Canada, 2.333%, 12/05/23	CAD		3,100,000	$	2,186,273
Royal Bank of Canada, 4.200%, 6/22/26	AUD		500,000		312,379
Toronto-Dominion Bank (The), 0.750%, 9/11/25	USD		500,000		441,395
Toronto-Dominion Bank (The), 0.750%, 1/06/26	USD		2,124,000		1,845,798
Toronto-Dominion Bank (The), 1.128%, 12/09/25	CAD		2,759,000		1,773,801
Toronto-Dominion Bank (The), 1.200%, 6/03/26	USD		2,938,000		2,553,622
Toronto-Dominion Bank (The), 1.909%, 7/18/23	CAD		5,900,000		4,184,517
Toronto-Dominion Bank (The), 3.005%, 5/30/23	CAD		7,500,000		5,377,717
Toronto-Dominion Bank (The), 3.226%, 7/24/24	CAD		2,500,000		1,765,364

					82,581,114

*Denmark — 3.2%*
Denmark Government Bond, 0.000%, 11/15/24 #	DKK		154,000,000		19,437,717
Kommunekredit, 1.000%, 12/15/23	USD		2,600,000		2,498,994
Kommunekredit, 2.000%, 6/25/24	GBP		1,300,000		1,383,667

					23,320,378

*Finland — 1.4%*
Finland Government Bond, 0.000%, 9/15/24 ±#	EUR		7,400,000		6,993,409
Finland Government Bond, 0.875%, 9/15/25 ±	EUR		1,600,000		1,510,648
Kuntarahoitus Oyj, 0.875%, 12/16/24	GBP		900,000		921,010
OP Corporate Bank plc, 1.000%, 5/22/25	EUR		1,000,000		923,741

					10,348,808

*France — 6.6%*
Agence Francaise de Developpement EPIC, 0.000%, 3/25/25 #	EUR		2,800,000		2,596,268
Agence Francaise de Developpement EPIC, 0.625%, 1/22/26 @	USD		6,200,000		5,478,529
BNP Paribas SA, 2.875%, 9/26/23	EUR		132,000		129,647
Bpifrance SACA, 0.500%, 5/25/25	EUR		1,000,000		934,027
Caisse d’Amortissement de la Dette Sociale, 0.375%, 5/27/24	USD		2,500,000		2,337,375
Caisse d’Amortissement de la Dette Sociale, 1.375%, 11/25/24	EUR		800,000		768,645
Caisse d’Amortissement de la Dette Sociale, 3.375%, 3/20/24	USD		371,000		365,606


		FACE AMOUNT		VALUE†
Dexia Credit Local SA, 0.500%, 7/22/23	GBP		300,000	$	324,101
Dexia Credit Local SA, 0.500%, 7/16/24	USD		6,800,000		6,338,691
Dexia Credit Local SA, 0.500%, 1/17/25	EUR		500,000		465,968
Dexia Credit Local SA, 1.125%, 4/09/26	USD		7,490,000		6,667,790
Dexia Credit Local SA, 1.250%, 11/26/24	EUR		2,600,000		2,471,450
Dexia Credit Local SA, 1.625%, 12/08/23	GBP		600,000		645,181
French Republic Government Bond OAT, 0.000%, 2/25/25 #	EUR		4,100,000		3,831,319
Sanofi Sr Unsecured Regs 04/25 0.875, 0.875%, 4/06/25	EUR		300,000		281,194
SFIL SA, 0.625%, 2/09/26	USD		11,400,000		10,039,958
Societe Nationale SNCF SA, 4.125%, 2/19/25	EUR		1,500,000		1,528,320
UNEDIC ASSEO, 0.125%, 11/25/24	EUR		800,000		748,717
UNEDIC ASSEO, 0.625%, 2/17/25	EUR		300,000		282,786
UNEDIC ASSEO, 2.375%, 5/25/24	EUR		1,100,000		1,080,616

					47,316,188

*Germany — 6.1%*
Erste Abwicklungsanstalt, 0.250%, 3/01/24	USD		9,000,000		8,496,791
Erste Abwicklungsanstalt, 0.875%, 10/30/24	USD		3,400,000		3,168,238
FMS Wertmanagement, 0.375%, 5/06/24	USD		2,000,000		1,878,294
Free State of Bavaria, 0.010%, 1/17/25	EUR		150,000		138,810
Kreditanstalt fuer Wiederaufbau, 0.000%, 11/15/24 #	EUR		300,000		280,628
Kreditanstalt fuer Wiederaufbau, 0.000%, 2/18/25 #	EUR		4,150,000		3,855,559
Kreditanstalt fuer Wiederaufbau, 0.010%, 3/31/25	EUR		412,000		381,673
Kreditanstalt fuer Wiederaufbau, 0.125%, 10/04/24	EUR		1,000,000		940,707
Kreditanstalt fuer Wiederaufbau, 0.250%, 3/08/24	USD		4,733,000		4,469,406
Kreditanstalt fuer Wiederaufbau, 0.375%, 4/23/25	EUR		638,000		595,770
Kreditanstalt fuer Wiederaufbau, 1.250%, 12/29/23	GBP		833,000		892,446
Kreditanstalt fuer Wiederaufbau, 1.625%, 5/10/24	USD		1,000,000		958,965
Kreditanstalt fuer Wiederaufbau, 3.200%, 9/11/26	AUD		500,000		306,457
Kreditanstalt fuer Wiederaufbau, 4.000%, 2/27/25	AUD		1,200,000		763,649
Landeskreditbank Baden-Wuerttemberg Foerderbank, 0.375%, 12/09/24	GBP		800,000		809,392

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


		FACE AMOUNT		VALUE†
BONDS AND NOTES (Continued)
*Germany (Continued)*
Landeskreditbank Baden-Wuerttemberg Foerderbank, 1.375%, 12/15/23	GBP		1,100,000	$	1,180,540
Landeskreditbank Baden-Wuerttemberg Foerderbank, 2.000%, 7/23/24	USD		7,562,000		7,258,711
Landwirtschaftliche Rentenbank, 3.125%, 11/14/23	USD		1,000,000		986,998
Landwirtschaftliche Rentenbank, 4.250%, 1/09/25	AUD		3,780,000		2,417,815
Landwirtschaftliche Rentenbank, 4.750%, 4/08/24	AUD		1,200,000		774,768
Landwirtschaftliche Rentenbank, 4.750%, 5/06/26	AUD		1,100,000		712,667
Landwirtschaftliche Rentenbank, 5.375%, 4/23/24	NZD		1,000,000		564,070
NRW Bank, 0.375%, 12/16/24	GBP		400,000		405,502
NRW Bank, 1.050%, 3/31/26	AUD		2,350,000		1,332,962

					43,570,818

*Luxembourg — 0.5%*
European Financial Stability Facility, 0.000%, 4/19/24 #	EUR		2,300,000		2,176,652
European Financial Stability Facility, 0.000%, 10/15/25 #	EUR		1,000,000		909,300
European Financial Stability Facility, 0.500%, 7/11/25	EUR		240,000		222,908

					3,308,860

*Netherlands — 4.3%*
BNG Bank NV, 3.500%, 8/26/24 ±	USD		1,700,000		1,673,671
BNG Bank NV, 0.500%, 4/16/25	EUR		1,600,000		1,486,741
BNG Bank NV, 2.000%, 4/12/24	GBP		2,400,000		2,565,422
BNG Bank NV, 3.250%, 7/15/25	AUD		2,400,000		1,488,952
Cooperatieve Rabobank UA, 1.375%, 1/10/25	USD		444,000		409,105
Nederlandse Waterschapsbank NV, 2.000%, 12/16/24	GBP		1,550,000		1,623,793
Nederlandse Waterschapsbank NV, 1.125%, 3/15/24	USD		2,150,000		2,053,533
Netherlands Government Bond, 0.000%, 1/15/24 ±#	EUR		1,800,000		1,726,050
Netherlands Government Bond, 0.250%, 7/15/25 ±	EUR		1,300,000		1,218,797
Netherlands Government Bond, 2.000%, 7/15/24 ±	EUR		15,600,000		15,361,397
Novo Nordisk Finance Netherlands BV, 0.750%, 3/31/25	EUR		200,000		186,362
Roche Finance Europe BV, 0.875%, 2/25/25	EUR		1,000,000		944,195
Shell International Finance BV, 0.750%, 5/12/24	EUR		200,000		190,163

					30,928,181

*New Zealand — 0.7%*
Bank of New Zealand, 1.000%, 3/03/26 ±	USD		971,000		845,869
New Zealand Local Government Funding Agency Bond, 2.250%, 4/15/24	NZD		6,800,000		3,655,437


		FACE AMOUNT		VALUE†
New Zealand Local Government Funding Agency Bond, 2.750%, 4/15/25	NZD		500,000	$	265,383

					4,766,689

*Norway — 2.4%*
Equinor ASA, 1.750%, 1/22/26	USD		1,900,000		1,710,855
Kommunalbanken AS, 0.250%, 12/08/23	USD		2,600,000		2,477,465
Kommunalbanken AS, 1.000%, 12/12/24	GBP		250,000		256,759
Kommunalbanken AS, 0.600%, 6/01/26	AUD		2,000,000		1,112,116
Kommunalbanken AS, 1.500%, 12/15/23	GBP		400,000		430,332
Kommunalbanken AS, 2.000%, 6/19/24	USD		2,700,000		2,596,008
Kommunalbanken AS, 2.750%, 2/05/24	USD		600,000		587,574
Norway Government Bond, 1.750%, 3/13/25 ±	NOK		19,800,000		1,760,169
Norway Government Bond, 3.000%, 3/14/24 ±	NOK		70,000,000		6,427,535

					17,358,813

*Supranational — 14.5%*
African Development Bank, 4.500%, 6/02/26	AUD		1,500,000		961,044
African Development Bank, 4.750%, 3/06/24	AUD		500,000		322,402
Asian Development Bank, 0.375%, 6/11/24	USD		800,000		749,430
Asian Development Bank, 0.500%, 5/05/26	AUD		6,000,000		3,347,302
Asian Development Bank, 1.375%, 12/15/23	GBP		6,540,000		7,024,752
Asian Development Bank, 1.625%, 3/15/24	USD		7,989,000		7,689,196
Asian Development Bank, 2.500%, 12/19/24	GBP		750,000		795,898
Asian Development Bank, 3.750%, 3/12/25	AUD		1,000,000		632,419
Asian Infrastructure Investment Bank (The), 0.500%, 1/27/26	USD		7,464,000		6,532,138
Asian Infrastructure Investment Bank (The), 1.000%, 5/06/26	AUD		2,400,000		1,358,222
Asian Infrastructure Investment Bank (The), 2.250%, 5/16/24	USD		844,000		815,543
Council of Europe Development Bank, 0.375%, 3/27/25	EUR		787,000		729,009
Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial, 0.250%, 2/09/24	EUR		191,000		181,463
European Financial Stability Facility, 0.400%, 2/17/25	EUR		400,000		373,566
European Financial Stability Facility, 1.750%, 6/27/24	EUR		598,000		580,185
European Financial Stability Facility, 2.125%, 2/19/24	EUR		1,250,000		1,223,169
European Investment Bank, 0.000%, 3/25/25 #	EUR		140,000		129,133
European Investment Bank, 0.750%, 11/15/24	GBP		1,100,000		1,128,704

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


		FACE AMOUNT		VALUE†
BONDS AND NOTES (Continued)
*Supranational (Continued)*
European Investment Bank, 0.875%, 12/15/23	GBP		2,590,000	$	2,766,005
European Investment Bank, 0.875%, 9/13/24	EUR		450,000		428,408
European Investment Bank, 1.250%, 5/12/25	SEK		5,000,000		427,750
European Investment Bank, 1.375%, 3/07/25	GBP		700,000		714,493
European Investment Bank, 2.625%, 3/15/24	USD		3,800,000		3,710,825
European Investment Bank, 2.900%, 10/17/25	AUD		2,200,000		1,352,342
European Investment Bank, 3.250%, 1/29/24	USD		1,623,000		1,601,185
European Stability Mechanism, 0.000%, 12/16/24 #	EUR		1,600,000		1,486,560
European Stability Mechanism, 0.000%, 3/14/25 #	EUR		1,566,000		1,444,806
European Union, 0.000%, 7/06/26 #	EUR		600,000		534,910
European Union, 0.500%, 4/04/25	EUR		1,000,000		936,167
European Union, 0.800%, 7/04/25	EUR		14,020,000		13,188,368
Inter-American Development Bank, 1.250%, 12/15/23	GBP		7,300,000		7,833,997
Inter-American Development Bank, 1.375%, 12/15/24	GBP		350,000		362,022
Inter-American Development Bank, 2.750%, 10/30/25	AUD		300,000		183,268
Inter-American Development Bank, 3.000%, 2/21/24	USD		963,000		946,233
Inter-American Development Bank, 3.250%, 7/01/24	USD		2,493,000		2,445,426
Inter-American Development Bank, 4.250%, 6/11/26	AUD		6,000,000		3,813,830
Inter-American Development Bank, 4.750%, 8/27/24	AUD		5,500,000		3,550,162
Inter-American Investment Corp., 1.750%, 10/02/24	USD		648,000		615,686
International Bank for Reconstruction & Development, 0.500%, 5/18/26	AUD		2,800,000		1,561,603
International Bank for Reconstruction & Development, 2.500%, 8/03/23	CAD		800,000		571,904
International Bank for Reconstruction & Development, 2.500%, 3/19/24	USD		12,500,000		12,184,453
International Finance Corp., 3.200%, 7/22/26	AUD		5,000,000		3,072,506
International Finance Corp., 4.000%, 4/03/25	AUD		4,900,000		3,116,956
Nordic Investment Bank, 1.500%, 3/13/25	NOK		10,000,000		876,866

					104,300,306


		FACE AMOUNT		VALUE†
*Sweden — 8.8%*
Kommuninvest I Sverige AB, 3.250%, 1/16/24	USD		3,343,000	$	3,294,495
Kommuninvest I Sverige AB, 0.375%, 2/16/24	USD		1,500,000		1,421,209
Kommuninvest I Sverige AB, 1.000%, 10/02/24	SEK		40,670,000		3,500,318
Kommuninvest I Sverige AB, 1.000%, 5/12/25	SEK		19,000,000		1,608,979
Kommuninvest I Sverige AB, 1.375%, 5/08/24 ±	USD		750,000		714,961
Kommuninvest I Sverige AB, 1.375%, 5/08/24	USD		4,200,000		4,003,782
Kommuninvest I Sverige AB, 2.875%, 7/03/24 ±	USD		2,971,000		2,895,817
Skandinaviska Enskilda Banken AB, 0.850%, 9/02/25 ±	USD		7,500,000		6,620,625
Skandinaviska Enskilda Banken AB, 1.200%, 9/09/26 ±@	USD		11,150,000		9,620,886
Skandinaviska Enskilda Banken AB, 1.400%, 11/19/25 ±@	USD		5,000,000		4,464,136
Svensk Exportkredit AB, 0.625%, 10/07/24	USD		1,718,000		1,594,340
Svensk Exportkredit AB, 3.625%, 9/03/24	USD		4,375,000		4,311,103
Svensk Exportkredit AB, 0.375%, 3/11/24	USD		3,000,000		2,834,416
Svensk Exportkredit AB, 0.375%, 7/30/24	USD		6,363,000		5,924,280
Svensk Exportkredit AB, 0.500%, 11/10/23	USD		2,000,000		1,916,897
Svensk Exportkredit AB, 1.375%, 12/15/23	GBP		1,700,000		1,824,353
Svenska Handelsbanken AB, 0.125%, 6/18/24	EUR		1,700,000		1,588,492
Svenska Handelsbanken AB, 0.550%, 6/11/24 ±	USD		250,000		232,915
Svenska Handelsbanken AB, 1.000%, 4/15/25	EUR		300,000		280,117
Sweden Government Bond, 2.500%, 5/12/25	SEK		53,000,000		4,779,180

					63,431,301

*Switzerland — 0.1%*
Novartis Finance SA, 0.125%, 9/20/23	EUR		1,000,000		960,494

*United Kingdom — 1.2%*
Network Rail Infrastructure Finance PLC, 4.750%, 1/22/24	GBP		955,000		1,064,390
United Kingdom Gilt, 0.125%, 1/31/24	GBP		3,800,000		4,019,957
United Kingdom Gilt, 0.250%, 1/31/25	GBP		3,500,000		3,535,890

					8,620,237

*United States — 26.3%*
Abbott Ireland Financing DAC, 0.100%, 11/19/24	EUR		100,000		92,635
Amazon.com, Inc., 0.450%, 5/12/24	USD		2,000,000		1,876,741

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


		FACE AMOUNT		VALUE†
BONDS AND NOTES (Continued)
*United States (Continued)*
Amazon.com, Inc., 1.000%, 5/12/26	USD		8,088,000	$	7,115,491
Amazon.com, Inc., 2.730%, 4/13/24	USD		7,000,000		6,837,637
Apple, Inc., 0.700%, 2/08/26	USD		2,410,000		2,122,756
Apple, Inc., 1.125%, 5/11/25	USD		1,348,000		1,236,669
Apple, Inc., 2.513%, 8/19/24	CAD		5,000,000		3,496,301
Apple, Inc., 3.600%, 6/10/26	AUD		500,000		308,311
Berkshire Hathaway, Inc., 0.000%, 3/12/25 #	EUR		420,000		382,081
Berkshire Hathaway, Inc., 3.125%, 3/15/26	USD		5,888,000		5,594,850
Chevron Corp., 1.554%, 5/11/25	USD		200,000		185,039
Chevron Corp., 2.954%, 5/16/26	USD		5,740,000		5,408,955
Chevron USA, Inc., 0.687%, 8/12/25	USD		1,507,000		1,349,709
Exxon Mobil Corp., 0.142%, 6/26/24	EUR		617,000		577,104
Merck & Co., Inc., 0.750%, 2/24/26	USD		1,647,000		1,445,780
National Securities Clearing Corp., 0.750%, 12/07/25 ±	USD		1,378,000		1,213,743
National Securities Clearing Corp., 1.500%, 4/23/25 ±	USD		704,000		649,268
Nestle Holdings, Inc., 0.625%, 1/15/26 ±	USD		4,652,000		4,081,637
Novartis Capital Corp., 3.400%, 5/06/24	USD		1,500,000		1,475,216
Procter & Gamble Co. (The), 1.000%, 4/23/26	USD		3,565,000		3,174,156
Procter & Gamble Co. (The), 1.125%, 11/02/23	EUR		100,000		96,604
Roche Holdings, Inc., 0.991%, 3/05/26 ±	USD		1,300,000		1,146,793
Roche Holdings, Inc., 2.625%, 5/15/26 ±	USD		300,000		279,467
Roche Holdings, Inc., 3.350%, 9/30/24 ±	USD		5,000,000		4,887,481
U.S. Treasury Note, 0.125%, 12/15/23	USD		4,000,000		3,807,656
U.S. Treasury Note, 0.750%, 12/31/23	USD		26,000,000		24,899,062
U.S. Treasury Note, 0.875%, 1/31/24	USD		11,000,000		10,512,519
U.S. Treasury Note, 2.500%, 1/31/24	USD		7,000,000		6,837,031
U.S. Treasury Notes, 0.125%, 7/15/23	USD		14,000,000		13,562,473
U.S. Treasury Notes, 0.125%, 7/31/23	USD		25,450,000		24,610,947
U.S. Treasury Notes, 0.125%, 8/15/23	USD		41,250,000		39,806,328
Visa, Inc., 3.150%, 12/14/25	USD		5,128,000		4,901,215
Walmart, Inc., 1.050%, 9/17/26	USD		5,710,000		4,991,706

					188,963,361

TOTAL BONDS AND NOTES (Identified Cost $758,164,528)					703,709,034


	SHARES		VALUE†
SHORT-TERM INVESTMENTS — 1.9%
*Investment Company — 1.0%*
State Street Institutional U.S. Government Money Market Fund 2.690%		7,447,786	$	7,447,786

*Collateral For Securities On Loan — 0.9%*
State Street Navigator Securities Lending Government Money Market Portfolio 3.030%		6,113,255		6,113,255

TOTAL SHORT-TERM INVESTMENTS (Identified Cost $13,561,041)				13,561,041

Total Investments — 99.7% (Identified Cost $771,725,569)				717,270,075

Cash and Other Assets, Less Liabilities — 0.3%				2,092,676

Net Assets — 100.0%			$	719,362,751

†	See Note 1

144A Securities. Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. These securities have been deemed by the Fund to be liquid and at September 30, 2022 amounted to 107,702,574 or 14.97% of the net assets of the Fund.

‡	Floating rate or variable rate note. Rate shown is as of September 30, 2022.

#	Zero coupon bond

@	A portion or all of the security were held on loan. As of September 30, 2022, the fair value of the securities on loan was $5,887,825.

Key to abbreviations:

AUD — Australian Dollar

CAD — Canadian Dollar

DKK — Danish Krone

EUR — Euro Currency

GBP — British Pound

NOK — Norwegian Krone

NZD — New Zealand Dollar

SEK — Swedish Krona

USD — U.S. Dollar

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

SA Global Fixed Income Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited) (Continued)


Forward Foreign Currency Exchange Contracts sold outstanding as of September 30, 2022
Settlement Date	Currency Purchased			Currency Sold			Counterparty	Total Value		Unrealized Appreciation		Unrealized Depreciation
10/06/22		USD	1,851,683		DKK	13,480,118	Bank of America N.A.	$	1,777,102	$	74,581		—
10/06/22		USD	1,056,472		DKK	7,672,919	HSBC Bank USA		1,011,531		44,941		—
10/06/22		USD	3,471,756		DKK	25,355,581	State Street Bank and Trust Co.		3,342,661		129,095		—
10/11/22		USD	1,545,308		NOK	15,494,772	Bank of America N.A.		1,422,990		122,318		—
10/11/22		USD	8,399,972		NOK	84,242,131	Citibank N.A. London		7,736,526		663,447		—
10/11/22		USD	5,215,875		NZD	8,250,521	State Street Bank and Trust Co.		4,617,602		598,273		—
10/12/22		USD	5,678,006		AUD	7,960,010	Bank of America N.A.		5,091,955		586,051		—
10/13/22		USD	1,381,471		SEK	14,625,360	Bank of America N.A.		1,318,393		63,078		—
10/13/22		USD	632,740		SEK	6,605,919	HSBC Bank USA		595,486		37,254		—
10/14/22		USD	1,805,233		SEK	18,815,799	Morgan Stanley & Co., Inc.		1,696,213		109,020		—
10/17/22		USD	6,283,679		CAD	8,109,484	Bank of America N.A.		5,870,508		413,171		—
10/17/22		USD	7,248,268		CAD	9,255,212	Bank of New York Mellon		6,699,908		548,360		—
10/17/22		USD	11,398,906		CAD	14,651,924	Citibank N.A. London		10,606,623		792,284		—
10/17/22		USD	10,359,115		CAD	13,443,025	HSBC Bank USA		9,731,493		627,622		—
10/17/22		USD	7,596,038		CAD	9,850,927	State Street Bank and Trust Co.		7,131,150		464,889		—
10/20/22		USD	4,290,500		AUD	6,218,668	Bank of America N.A.		3,978,411		312,089		—
10/21/22		USD	648,526		EUR	637,056	ANZ Banking Group Ltd.		625,075		23,452		—
10/21/22		USD	3,828,224		EUR	3,834,084	Bank of America N.A.		3,761,975		66,249		—
10/21/22		USD	16,203,875		EUR	16,105,632	State Street Bank and Trust Co.		15,802,725		401,149		—
10/25/22		USD	1,927,911		GBP	1,680,856	Bank of America N.A.		1,877,612		50,299		—
10/25/22		USD	32,555,933		GBP	28,038,872	State Street Bank and Trust Co.		31,321,017		1,234,916		—
10/25/22		USD	14,552,818		GBP	13,234,640	State Street Bank and Trust Co.		14,783,847		—		(231,029	)
10/28/22		USD	24,679,410		EUR	25,582,124	State Street Bank and Trust Co.		25,113,116		—		(433,706	)
10/31/22		USD	62,077,138		AUD	90,205,847	UBS		57,717,008		4,360,130		—
11/03/22		USD	29,934,459		EUR	29,817,963	Morgan Stanley & Co., Inc.		29,283,425		651,034		—
11/16/22		USD	1,410,809		SEK	15,024,376	HSBC Bank USA		1,356,631		54,178		—
11/16/22		USD	366,226		SEK	3,913,652	State Street Bank and Trust Co.		353,385		12,841		—
11/22/22		USD	2,426,556		DKK	18,279,835	Bank of America N.A.		2,417,911		8,645		—
11/22/22		USD	4,252,473		DKK	31,443,485	State Street Bank and Trust Co.		4,159,094		93,379		—
11/22/22		USD	2,423,397		EUR	2,446,710	HSBC Bank USA		2,406,031		17,367		—
11/22/22		USD	311,628		EUR	319,134	HSBC Bank USA		313,828		—		(2,200	)
11/22/22		USD	16,703,794		EUR	16,598,881	State Street Bank and Trust Co.		16,322,905		380,888		—
11/22/22		USD	943,728		EUR	979,726	State Street Bank and Trust Co.		963,437		—		(19,709	)
11/23/22		USD	382,520		SEK	4,059,450	Bank of America N.A.		366,699		15,821		—
11/23/22		USD	1,239,279		SEK	13,137,568	Citibank N.A. London		1,186,744		52,535		—
11/23/22		USD	1,674,194		SEK	17,797,092	State Street Bank and Trust Co.		1,607,649		66,545		—
11/28/22		USD	1,870,644		SEK	21,061,467	Morgan Stanley & Co., Inc.		1,903,080		—		(32,436	)
12/07/22		USD	6,964,877		DKK	51,387,853	Morgan Stanley & Co., Inc.		6,805,086		159,791		—
12/29/22		USD	1,944,999		EUR	1,974,901	State Street Bank and Trust Co.		1,949,078		—		(4,079	)

										$	13,235,690	$	(723,160	)



Forward Foreign Currency Exchange Contracts purchased outstanding as of September 30, 2022
Settlement Date	Currency Purchased			Currency Sold			Counterparty	Total Value		Unrealized Appreciation		Unrealized Depreciation
10/11/22		NZD	90,988		USD	54,118	Bank of America N.A.	$	50,924	$	—	$	(3,194	)
10/17/22		CAD	10,239,806		USD	7,660,414	Bank of New York Mellon		7,412,662		—		(247,752	)
10/17/22		CAD	2,977,754		USD	2,170,646	State Street Bank and Trust Co.		2,155,616		—		(15,031	)
10/31/22		AUD	1,169,866		USD	753,700	State Street Bank and Trust Co.		748,523		—		(5,177	)

										$	—	$	(271,154	)

Total										$	13,235,690	$	(994,313	)

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

Country weightings as of September 30, 2022

(As a percentage of long-term investments) (Unaudited)


Country	Percentage
United States		27.0	%
Supranational		14.8	%
Canada		11.7	%
Australia		9.0	%
Sweden		9.0	%
France		6.7	%
Germany		6.2	%
Netherlands		4.4	%
Denmark		3.3	%
Other		7.9	%

		100.0	%

SA Worldwide Moderate Growth Fund

PORTFOLIO OF INVESTMENTS — AS OF SEPTEMBER 30, 2022 (Unaudited)


	SHARES		VALUE†
MUTUAL FUNDS — 100.0%
*Others — 100.0%*
SA Emerging Markets Value Fund €		169,772	$	1,407,408
SA Global Fixed Income Fund €		560,150		4,766,876
SA International Value Fund €		431,735		4,205,104
SA Real Estate Securities Fund €		56,679		604,202
SA U.S. Core Market Fund €		149,439		3,475,949
SA U.S. Fixed Income Fund €		217,718		2,044,373
SA U.S. Small Company Fund €		63,939		1,404,731
SA U.S. Value Fund €		205,305		3,518,920

				21,427,563

TOTAL MUTUAL FUNDS (Identified Cost $21,790,731)				21,427,563

Total Investments — 100.0% (Identified Cost $21,790,731)				21,427,563
Liabilities, Less Cash and Other Assets — 0.0%				(3,336	)

Net Assets — 100.0%			$	21,424,227

†	See Note 1

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

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

SA FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – September 30, 2022 (Unaudited)

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

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

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

Shares of registered open-end investment companies are valued at the investment company’s net asset value. Forward currency contracts are valued based on prices received from independent pricing services. Securities for which market quotations are not readily available, or for which available quotations appear not to accurately reflect the current value of an investment, are valued at fair value as determined in good faith by a pricing committee (the “Pricing Committee”) (or its designee) appointed by the Board of Trustees of the Trust (the “Board” or the “Trustees”) pursuant to procedures approved by the Board.

Certain Funds hold securities traded in foreign markets. Foreign securities are valued at the latest market price in the foreign market. However, if events occurring after the close of the foreign market (but before the close of regular trading on the New York Stock Exchange) are believed to materially affect the value of those securities, such securities may be valued at fair value as determined in good faith by the Pricing Committee (or its designee). Any determinations of fair value made by the Pricing Committee (or its designee) are presented to the Board for ratification.

Valuation of securities by the DFA Portfolio and the Series in which it invests is discussed in the “Selected Financial Statements of DFA Investment Dimensions Group Inc. – Notes to Financial Statements,” and “Selected Financial Statements of the DFA Investment Trust Company – Notes to Financial Statements,” which are included elsewhere in this report.

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

SA FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – September 30, 2022 (Unaudited) (Continued)

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

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

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

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

The tables below provide a summary of the inputs as of September 30, 2022, in valuing each Fund’s investments:


	Investments in Securities
Description	Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Fair Value as of September 30, 2022
SA U.S. Fixed Income Fund
Assets
Yankee Corporate Bonds And Notes	$	—	$	63,820,598		$	—	$	63,820,598
Corporate Bonds and Notes		—		104,383,347			—		104,383,347
U.S. Government and Agency Obligations		—		273,462,130			—		273,462,130
Short-Term Investments		1,426,782		—			—		1,426,782

Total Investments	$	1,426,782	$	441,666,075		$	—	$	443,092,857

SA Global Fixed Income Fund
Assets
Bonds and Notes	$	—	$	703,709,034		$	—	$	703,709,034
Short-Term Investments		13,561,041		—			—		13,561,041
Other Financial Instruments
Forward Foreign Currency Exchange Contracts		—		13,235,690			—		13,235,690

Total Investments	$	13,561,041	$	716,944,724		$	—	$	730,505,765

Liabilities
Other Financial Instruments
Forward Foreign Currency Exchange Contracts	$	—	$	(994,313	)	$	—	$	(994,313	)

SA FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – September 30, 2022 (Unaudited) (Continued)


	Investments in Securities
Description	Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value as of September 30, 2022
SA U.S. Core Market Fund
Assets
Common Stocks	$	526,751,863	$	267,592	$	—		$	527,019,455
Mutual Funds		22,812,511		—		—			22,812,511
Short-Term Investments		2,297,725		—		—			2,297,725

Total Investments	$	551,862,099	$	267,592	$	—		$	552,129,691

SA U.S. Value Fund
Assets
Common Stocks	$	478,581,750	$	—	$	—		$	478,581,750
Short-Term Investments		1,481,790		—		—			1,481,790

Total Investments	$	480,063,540	$	—	$	—		$	480,063,540

SA U.S. Small Company Fund
Assets
Common Stocks	$	278,466,831	$	—	$	52,579	†	$	278,519,410
Preferred Stocks		148,837		—		—			148,837
Short-Term Investments		2,734,656		—		—			2,734,656

Total Investments	$	281,350,324	$	—	$	52,579		$	281,402,903

SA International Value Fund
Assets
Common Stocks	$	459,480,483	$	356,263	$	—		$	459,836,746
Preferred Stocks		5,633,175		—		—			5,633,175
Short-Term Investments		23,442,439		—		—			23,442,439

Total Investments	$	488,556,097	$	356,263	$	—		$	488,912,360

SA International Small Company Fund
Assets
Mutual Funds	$	211,993,781	$	—	$	—		$	211,993,781

Total Investments	$	211,993,781		—	$	—		$	211,993,781

SA Emerging Markets Value Fund
Assets
Common Stocks	$	164,055,620	$	665,671	$	94,993	†	$	164,816,284
Preferred Stocks		2,512,169		—		—			2,512,169
Rights and Warrants		1,266		—		—			1,266
Short-Term Investments		2,621,625		—		—			2,621,625

Total Investments	$	169,190,680	$	665,671	$	94,993		$	169,951,344

SA FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – September 30, 2022 (Unaudited) (Continued)


	Investments in Securities
Description	Unadjusted Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value as of September 30, 2022
SA Real Estate Securities Fund
Assets
Common Stocks	$	123,123,874	$	—	$	0	†	$	123,123,874
Short-Term Investments		581,340		—		—			581,340

Total Investments	$	123,705,214	$	—	$	0		$	123,705,214

SA Worldwide Moderate Growth Fund
Assets
Mutual Funds	$	21,427,563	$	—	$	—		$	21,427,563

Total Investments	$	21,427,563	$	—	$	—		$	21,427,563

†	Contains securities with a market value of zero.

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

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

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

SA FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – September 30, 2022 (Unaudited) (Continued)

As of September 30, 2022, the following Funds had securities on loan, which were collateralized by short-term investments. The value of securities on loan and the value of the related collateral were as follows:


	Value of Securities		Value of Cash Collateral		Value of Non-Cash Collateral*		Total Collateral
SA Global Fixed Income Fund	$	5,887,825	$	6,113,255	$	—	$	6,113,255
SA U.S Core Market Fund		976,115		231,230		770,241		1,001,471
SA U.S. Value Fund		735,472		126,068		627,649		753,717
SA U.S. Small Company Fund		6,026,535		1,765,740		4,445,389		6,211,129
SA International Value Fund		41,018,814		23,096,995		19,634,626		42,731,621
SA Emerging Markets Value Fund		3,594,723		2,299,218		1,573,458		3,872,676
SA Real Estate Securities Fund		1,759,680		33,486		1,764,409		1,797,895

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

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


	Remaining Contractual Maturity of the Agreements As of September 30, 2022
Securities Lending Transaction⁽¹⁾	Overnight and Continuous		<30 days		Between 30 & 90 days		>90 days		Total
SA Global Fixed Income Fund
Government Money Market	$	6,113,255	$	—	$	—	$	—	$	6,113,255

Total Borrowings	$	6,113,255	$	—	$	—	$	—	$	6,113,255

Gross amount of recognized liabilities for securities lending transactions									$	6,113,255

SA U.S. Core Market Fund
Government Money Market	$	231,230	$	—	$	—	$	—	$	231,230

Total Borrowings	$	231,230	$	—	$	—	$	—	$	231,230

Gross amount of recognized liabilities for securities lending transactions									$	231,230

SA U.S. Value Fund
Government Money Market	$	126,068	$	—	$	—	$	—	$	126,068

Total Borrowings	$	126,068	$	—	$	—	$	—	$	126,068

Gross amount of recognized liabilities for securities lending transactions									$	126,068

SA U.S. Small Company Fund
Government Money Market	$	1,765,740	$	—	$	—	$	—	$	1,765,740

Total Borrowings	$	1,765,740	$	—	$	—	$	—	$	1,765,740

Gross amount of recognized liabilities for securities lending transactions									$	1,765,740

SA International Value Fund
Government Money Market	$	23,096,995	$	—	$	—	$	—	$	23,096,995

Total Borrowings	$	23,096,995	$	—	$	—	$	—	$	23,096,995

Gross amount of recognized liabilities for securities lending transactions									$	23,096,995

SA FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – September 30, 2022 (Unaudited) (Continued)


	Remaining Contractual Maturity of the Agreements As of September 30, 2022
Securities Lending Transaction⁽¹⁾	Overnight and Continuous		<30 days		Between 30 & 90 days		>90 days		Total
SA Emerging Markets Value Fund
Government Money Market	$	2,299,218	$	—	$	—	$	—	$	2,299,218

Total Borrowings	$	2,299,218	$	—	$	—	$	—	$	2,299,218

Gross amount of recognized liabilities for securities lending transactions									$	2,299,218

SA Real Estate Securities Fund
Government Money Market	$	33,486	$	—	$	—	$	—	$	33,486

Total Borrowings	$	33,486	$	—	$	—	$	—	$	33,486

Gross amount of recognized liabilities for securities lending transactions									$	33,486

⁽¹⁾

Amounts represent the payable for cash collateral received on securities on loan. This will generally be in the “Overnight and Continuous” column as the securities are typically callable on demand. The payable will be allocated into categories of securities based on the market value of the securities.

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

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

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

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

SA FUNDS

NOTES TO PORTFOLIOS OF INVESTMENTS – September 30, 2022 (Unaudited) (Continued)

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

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

Federal Income Tax — At September 30, 2022, the aggregate cost of investment securities, aggregate gross unrealized appreciation (depreciation) and net unrealized appreciation (depreciation) for all securities as computed on a federal income tax basis for each fund were as follows:


	Cost		Unrealized Appreciation		Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
SA U.S. Fixed Income Fund	$	456,837,253	$	—	$	(13,744,396	)	$	443,092,857
SA Global Fixed Income Fund		771,725,569		13,370,166		(55,584,283	)		729,511,452
SA U.S. Core Market Fund		150,217,004		404,408,473		(2,495,786	)		552,129,691
SA U.S. Value Fund		333,705,030		172,403,754		(26,045,244	)		480,063,540
SA U.S. Small Company Fund		181,725,585		117,251,611		(17,574,293	)		281,402,903
SA International Value Fund		529,423,127		52,200,777		(92,711,544	)		488,912,360
SA International Small Company Fund		153,807,450		58,186,331		—			211,993,781
SA Emerging Markets Value Fund		191,190,156		27,618,335		(48,857,147	)		169,951,344
SA Real Estate Securities Fund		73,626,399		54,355,714		(4,276,899	)		123,705,214
SA Worldwide Moderate Growth		21,790,731		381,248		(744,416	)		21,427,563

INTERNATIONAL SMALL COMPANY PORTFOLIO

SCHEDULE OF INVESTMENTS

September 30, 2022

(Unaudited)


	Value†
AFFILIATED INVESTMENT COMPANIES — (99.4%)
Investment in The Continental Small Company Series of The DFA Investment Trust Company	$	3,457,813,060
Investment in The Japanese Small Company Series of The DFA Investment Trust Company		2,262,176,563
Investment in The Canadian Small Company Series of The DFA Investment Trust Company		1,094,039,098
Investment in The United Kingdom Small Company Series of The DFA Investment Trust Company		1,077,478,774
Investment in The Asia Pacific Small Company Series of The DFA Investment Trust Company		964,727,304

TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES	$	8,856,234,799


	Shares
TEMPORARY CASH INVESTMENTS — (0.6%)
State Street Institutional U.S. Government Money Market Fund, 2.940% (Cost $48,995,780)		48,995,780		48,995,780

TOTAL INVESTMENTS — (100.0%) (Cost $10,127,266,249)^^			$	8,905,230,579

†	See Security Valuation Note within the Notes to Schedules of Investments.

^^	See Federal Tax Cost Note within the Notes to Schedules of Investments.

As of September 30, 2022, International Small Company Portfolio had entered into the following outstanding futures contracts:


Description	Number of Contracts		Expiration Date		Notional Value		Market Value		Unrealized Appreciation (Depreciation)
Long Position Contracts:
S&P 500^® Emini Index		281		12/16/22	$	56,375,226	$	50,601,075	$	(5,774,151	)

Total Futures Contracts					$	56,375,226	$	50,601,075	$	(5,774,151	)

Summary of the Portfolio’s investments as of March 31, 2019, based on their valuation inputs, is as follows (See Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1			Level 2		Level 3		Total
Affiliated Investment Companies	$	8,856,234,799			—		—	$	8,856,234,799
Temporary Cash Investments		48,995,780			—		—		48,995,780
Futures Contracts**		(5,774,151	)		—		—		(5,774,151	)

TOTAL	$	8,899,456,428			—		—	$	8,899,456,428

**	Valued at the unrealized appreciation/(depreciation) on the investment.

ORGANIZATION

DFA Investment Dimensions Group Inc. (the “Fund”) is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. At September 30, 2021, the Fund consisted of one hundred and two operational portfolios, of which one, International Small Company Portfolio (the “Portfolio”) is included in this document. The Fund’s investment advisor is Dimensional Fund Advisors LP (the “Advisor”). The Portfolio is a “Fund-of-Funds”, which generally allocates its assets among the five series (the “Underlying Funds”) of The DFA Investment Trust Company, which is also advised by the Advisor. The Schedules of Investments for the Underlying Funds have been included in this document.

SECURITY VALUATION

The International Small Company Portfolio invests in the five Underlying Funds indicated on its Schedule of Investments.

The Portfolio uses a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below:

•

Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies and futures contracts)

•

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

•

Level 3 - significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)

Shares held by the International Small Company Portfolio in other investment companies (such as the Underlying Funds) are valued at their respective daily net asset values as reported by their administrator. The Portfolio’s investments in the Underlying Funds reflect its proportionate interest in the net assets of such corresponding Underlying Fund. These valuations are classified as Level 1 in the hierarchy.

Futures contracts held by the Portfolio are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy.

A summary of the inputs used to value the Portfolio’s investments by each major security type, industry and/or country is disclosed previously in this note. A valuation hierarchy table has been included at the end of the Schedule of Investments for the Portfolio. The methodology or inputs used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

DERIVATIVE FINANCIAL INSTRUMENTS

Summarized below are the specific types of derivative instruments used by the Portfolio.

1. FUTURES CONTRACTS: The Portfolio may purchase or sell futures contracts and options on futures contracts for equity securities and indices to increase or decrease market exposure based on actual or expected cash inflows to or outflows from the Portfolio. Upon entering into a futures contract, the Portfolio deposits cash or pledges U.S. Government securities to a broker in an amount equal to the minimum “initial margin” requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as “variation margin” and are recorded daily by the Portfolio as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Portfolio records a realized gain or loss, which is presented in the Statement of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Risks may arise upon entrance into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Portfolio could lose more than the initial margin requirements. The Portfolio entering into stock index futures is subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default.

FEDERAL TAX COST

At September 30, 2022, the total cost of securities for federal income tax purposes was $9,813,843.

RECENTLY ISSUED ACCOUNTING STANDARDS

In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In January 2021, the FASB issued ASU No. 2021-01, with further amendments to Topic 848. The amendments in the ASUs provide optional temporary accounting recognition and financial reporting relief from the effect of certain types of contract modifications due to the planned discontinuation of the LIBOR and other interbank-offered based reference rates as of the end of 2021 and 2023. The ASUs are effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management has reviewed the requirements and believes the adoption of these ASUs will not have a material impact on the Portfolios’ financial statements.

In October 2020, the SEC adopted new regulations governing the use of derivatives by registered investment companies. Rule 18f-4 (the “Derivatives Rule”) imposes limits on the amount of derivatives contracts the Portfolios could enter, eliminate the asset segregation framework currently used by the Portfolios to comply with Section 18 of the 1940 Act, and require funds whose use of derivatives is more than a limited specified exposure to establish and maintain a derivatives risk management program and appoint a derivatives risk manager. The Derivatives Rule became effective February 19, 2021 and the Portfolios are required to comply on August 19, 2022. Management is currently evaluating the effect, if any, the Derivatives Rule will have on the Portfolios.

On December 3, 2020, the SEC adopted new Rule 2a-5 (the “Valuation Rule”) under the Investment Company Act of 1940, establishing an updated regulatory framework for fund valuation. The Valuation Rule, in part, provides a framework for good faith fair value determination and permits a Board to designate fair value determinations to a fund’s investment adviser. Further, the SEC is rescinding previously issued guidance on related issues. The Valuation Rule became effective on March 8, 2021, with a compliance date of September 8, 2022. Management is currently evaluating the Valuation Rule and its effect on the Portfolios.

SUBSEQUENT EVENT EVALUATIONS

Management has evaluated the impact of all subsequent events on the Portfolios through the date on which the financial statements were issued and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements.

THE JAPANESE SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

September 30, 2022

(Unaudited)


		Shares	Value»
COMMON STOCKS — (97.0%)
COMMUNICATION SERVICES — (2.3%)
#	Accrete, Inc.	20,600	$	345,074
#	Aeria, Inc.	15,800		50,477
	Aiming, Inc.	51,100		101,416
	Akatsuki, Inc.	45,400		653,944
*	Allied Architects, Inc.	30,400		206,069
*	AlphaPolis Co. Ltd.	13,000		192,781
	Amuse, Inc.	34,600		405,701
	ARTERIA Networks Corp.	86,500		711,856
	Asahi Broadcasting Group Holdings Corp.	57,600		249,975
#	Asahi Net, Inc.	109,100		441,606
*	Atrae, Inc.	96,000		1,074,615
	Avex, Inc.	234,900		2,500,677
# *	Bengo4.com, Inc.	46,600		1,151,347
	Broadmedia Corp.	5,520		38,159
	Broccoli Co. Ltd.	4,400		34,142
#	Carta Holdings, Inc.	38,100		439,426
#	Ceres, Inc.	50,700		317,776
#	CL Holdings, Inc.	9,700		57,640
*	COLOPL, Inc.	179,900		845,390
# *	COOKPAD, Inc.	190,600		262,908
#	Cross Marketing Group, Inc.	22,900		134,694
	DeNA Co. Ltd.	411,700		5,216,511
	Digital Holdings, Inc.	60,500		488,225
	Direct Marketing MiX, Inc.	38,200		429,773
	Drecom Co. Ltd.	24,400		144,599
	Enjin Co. Ltd.	6,600		125,298
#	Faith, Inc.	56,010		206,037
#	Fibergate, Inc.	22,300		135,924
# *	FreakOut Holdings, Inc.	23,400		210,194
	Freebit Co. Ltd.	63,100		400,213
	Fuji Media Holdings, Inc.	132,700		974,605
#	Gakken Holdings Co. Ltd.	132,500		883,681
	GungHo Online Entertainment, Inc.	291,600		4,479,438
	Imagica Group, Inc.	112,500		733,367
	Imagineer Co. Ltd.	1,600		9,635
#	i-mobile Co. Ltd.	6,600		53,293
#	Infocom Corp.	146,900		1,935,626
	Intage Holdings, Inc.	215,000		2,256,640
	IPS, Inc.	17,200		353,661
	ITmedia, Inc.	56,800		633,105
*	Japan Communications, Inc.	903,800		1,370,098
#	J-Stream, Inc.	32,200		130,403
	Kamakura Shinsho Ltd.	25,700		149,819
*	KLab, Inc.	49,700		171,996
*	LIFULL Co. Ltd.	444,000		493,937
*	Macbee Planet, Inc.	3,400		213,362
	Macromill, Inc.	243,197		1,829,755
	MarkLines Co. Ltd.	72,900		1,179,796
	Marvelous, Inc.	195,700		901,460
#	Members Co. Ltd.	50,400		896,084
	Mixi, Inc.	256,400		4,070,057
# *	Mobile Factory, Inc.	10,500		65,911
	MTI Ltd.	87,300		301,408

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
COMMUNICATION SERVICES — (Continued)
# *	NexTone, Inc.	31,200	$	780,135
	Okinawa Cellular Telephone Co.	161,600		2,846,248
#	Orchestra Holdings, Inc.	4,800		80,588
	Oricon, Inc.	27,800		178,799
# *	PR Times, Inc.	11,900		176,968
	Proto Corp.	157,900		1,123,820
*	Shobunsha Holdings, Inc.	63,000		129,014
	SKY Perfect JSAT Holdings, Inc.	917,800		3,286,208
#	Toei Co. Ltd.	700		83,820
	Tohokushinsha Film Corp.	94,800		421,315
	Tokyu Recreation Co. Ltd.	19,200		784,806
#	Tow Co. Ltd.	226,900		478,215
	Trenders, Inc.	13,300		153,171
	TV Asahi Holdings Corp.	98,500		955,028
	Tv Tokyo Holdings Corp.	67,800		889,136
#	Usen-Next Holdings Co. Ltd.	79,900		1,089,064
*	UUUM Co. Ltd.	11,600		71,656
	ValueCommerce Co. Ltd.	105,000		1,606,287
#	V-Cube, Inc.	80,700		513,109
	Vector, Inc.	201,500		1,528,928
	Wowow, Inc.	37,900		348,256
	Zenrin Co. Ltd.	215,250		1,329,044
	ZIGExN Co. Ltd.	113,900		269,527

TOTAL COMMUNICATION SERVICES				60,782,726

CONSUMER DISCRETIONARY — (14.6%)
	&Do Holdings Co. Ltd.	59,500		354,217
	Adastria Co. Ltd.	148,840		2,210,655
#	Adventure, Inc.	8,800		735,374
	Aeon Fantasy Co. Ltd.	48,932		1,173,382
#	Ahresty Corp.	141,200		352,118
	Ainavo Holdings Co. Ltd.	5,600		34,834
# *	Airtrip Corp.	85,100		1,675,529
	Aisan Industry Co. Ltd.	213,700		1,009,376
*	Akebono Brake Industry Co. Ltd.	610,100		671,182
	Alleanza Holdings Co. Ltd.	80,800		549,018
	Alpen Co. Ltd.	98,500		1,404,704
#	Alpha Corp.	31,700		197,861
	Amiyaki Tei Co. Ltd.	28,200		567,911
#	AOKI Holdings, Inc.	234,900		1,149,438
	Aoyama Trading Co. Ltd.	245,000		1,545,850
#	Arata Corp.	87,800		2,492,016
#	Arcland Service Holdings Co. Ltd.	94,800		1,400,080
#	ARCLANDS Corp.	31,200		313,113
	Asahi Co. Ltd.	110,100		995,727
	Ashimori Industry Co. Ltd.	29,499		210,408
	ASKUL Corp.	241,600		2,486,929
	Asti Corp.	19,400		272,581
# *	Atsugi Co. Ltd.	27,400		70,248
	Aucnet, Inc.	65,100		1,005,360
#	Autobacs Seven Co. Ltd.	436,500		4,218,051
#	Avantia Co. Ltd.	66,500		364,533
#	Baroque Japan Ltd.	90,200		491,050
#	Beauty Garage, Inc.	21,700		394,341
*	Beenos, Inc.	30,500		489,509
	Belluna Co. Ltd.	323,600		1,561,937
	Benesse Holdings, Inc.	362,043		5,390,525
#	Bic Camera, Inc.	526,700		4,493,917
#	Bike O & Co. Ltd.	33,600		244,867

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER DISCRETIONARY — (Continued)
	Bookoff Group Holdings Ltd.	66,600	$	514,337
	Central Automotive Products Ltd.	80,500		1,222,093
#	Central Sports Co. Ltd.	45,200		763,404
	Chiyoda Co. Ltd.	110,800		601,177
	Chofu Seisakusho Co. Ltd.	122,400		1,727,021
	Chuo Spring Co. Ltd.	81,700		376,594
	Cleanup Corp.	139,400		542,858
#	Colowide Co. Ltd.	234,900		3,017,322
#	Corona Corp.	97,200		557,562
#	Create Restaurants Holdings, Inc.	619,500		4,177,910
# *	CROOZ, Inc.	22,400		183,445
*	CrowdWorks, Inc.	4,200		49,750
#	Curves Holdings Co. Ltd.	186,100		1,055,217
#	Daido Metal Co. Ltd.	227,200		758,045
#	Daikoku Denki Co. Ltd.	50,900		458,921
	Daikyonishikawa Corp.	258,900		952,852
	Daimaruenawin Co. Ltd.	3,400		28,762
	Dainichi Co. Ltd.	67,100		289,858
	DCM Holdings Co. Ltd.	729,200		5,942,600
	Doshisha Co. Ltd.	134,600		1,343,502
	Doutor Nichires Holdings Co. Ltd.	186,086		2,236,961
#	Eagle Industry Co. Ltd.	168,200		1,258,369
	EAT & Holdings Co. Ltd.	33,000		499,133
#	EDION Corp.	526,900		4,285,515
	Enigmo, Inc.	152,100		523,224
#	ES-Con Japan Ltd.	44,600		252,397
#	Eslead Corp.	47,700		554,892
	Exedy Corp.	184,900		2,107,532
	FCC Co. Ltd.	231,100		2,111,596
	Felissimo Corp.	20,600		144,653
	First Juken Co. Ltd.	46,400		352,159
	First-Corp., Inc.	45,300		228,140
	FJ Next Holdings Co. Ltd.	106,600		742,678
#	Food & Life Cos. Ltd.	212,700		3,261,989
	Foster Electric Co. Ltd.	143,200		736,804
#	F-Tech, Inc.	60,800		207,192
	Fuji Corp.	72,800		618,162
	Fuji Corp. Ltd.	171,000		733,639
	Fuji Kyuko Co. Ltd.	66,500		1,969,628
	Fujibo Holdings, Inc.	64,800		1,470,242
	Fujikura Composites, Inc.	119,200		728,930
	Fujishoji Co. Ltd.	52,700		308,865
#	Fujitsu General Ltd.	33,200		690,857
#	FuKoKu Co. Ltd.	66,400		444,727
	Furukawa Battery Co. Ltd.	88,000		683,223
#	Furyu Corp.	115,400		804,526
	Futaba Industrial Co. Ltd.	341,300		766,785
#	Gakkyusha Co. Ltd.	49,300		550,545
#	Genki Sushi Co. Ltd.	32,500		683,074
#	Geo Holdings Corp.	186,600		2,285,313
	Gift Holdings, Inc.	23,300		526,161
	GLOBERIDE, Inc.	106,198		1,581,203
	Golf Digest Online, Inc.	64,100		669,905
#	GSI Creos Corp.	63,184		619,578
	G-Tekt Corp.	143,700		1,256,370
	Gunze Ltd.	98,000		2,614,672
	H2O Retailing Corp.	542,045		4,136,484
	Hagihara Industries, Inc.	77,700		562,460
#	Hamee Corp.	36,100		215,010

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER DISCRETIONARY — (Continued)
	Handsman Co. Ltd.	43,500	$	245,344
	Happinet Corp.	99,600		1,269,931
#	Hard Off Corp. Co. Ltd.	58,800		508,691
	Heian Ceremony Service Co. Ltd.	8,300		44,262
#	Heiwa Corp.	261,200		4,039,961
	HI-LEX Corp.	121,700		869,497
#	Himaraya Co. Ltd.	32,100		203,384
#	H-One Co. Ltd.	123,200		486,173
	Honeys Holdings Co. Ltd.	118,640		998,766
	Hoosiers Holdings Co. Ltd.	213,000		1,137,779
	Hotland Co. Ltd.	44,200		413,841
	IBJ, Inc.	125,900		768,205
	Ichibanya Co. Ltd.	30,658		942,485
	Ichikoh Industries Ltd.	194,100		513,225
	IDOM, Inc.	367,100		2,215,425
	IJTT Co. Ltd.	133,980		465,028
#	Imasen Electric Industrial	44,100		171,242
# *	Istyle, Inc.	147,000		497,957
	Izuhakone Railway Co. Ltd.	300		0
	Izumi Co. Ltd.	117,700		2,537,062
	J Front Retailing Co. Ltd.	175,400		1,427,276
	JANOME Corp.	109,400		488,143
#	Japan Best Rescue System Co. Ltd.	39,800		204,929
	Japan Wool Textile Co. Ltd.	312,600		2,304,964
	JINS Holdings, Inc.	82,900		2,461,304
# *	Joban Kosan Co. Ltd.	41,499		351,567
	Joshin Denki Co. Ltd.	108,200		1,418,577
	Joyful Honda Co. Ltd.	143,000		1,767,812
	JP-Holdings, Inc.	360,900		676,343
	JVCKenwood Corp.	1,051,800		1,429,937
# *	Kasai Kogyo Co. Ltd.	123,600		161,050
	Kawai Musical Instruments Manufacturing Co. Ltd.	36,600		640,027
#	Keiyo Co. Ltd.	245,000		1,538,714
	KeyHolder, Inc.	2,100		11,586
#	KFC Holdings Japan Ltd.	87,300		1,633,451
#	King Co. Ltd.	54,100		155,108
# *	Kintetsu Department Store Co. Ltd.	1,300		21,536
#	Ki-Star Real Estate Co. Ltd.	55,900		1,678,033
	Kohnan Shoji Co. Ltd.	157,700		3,685,923
#	Kojima Co. Ltd.	197,700		861,710
	Komatsu Matere Co. Ltd.	195,000		1,045,347
	KOMEDA Holdings Co. Ltd.	301,900		4,856,961
#	Komehyo Holdings Co. Ltd.	42,400		886,355
#	Komeri Co. Ltd.	202,100		3,858,388
#	Konaka Co. Ltd.	163,506		373,878
#	Kotobukiya Co. Ltd.	1,800		93,363
#	K’s Holdings Corp.	249,700		2,058,685
#	KU Holdings Co. Ltd.	115,500		869,963
	Kurabo Industries Ltd.	113,200		1,542,006
	KYB Corp.	117,200		2,510,456
#	Kyoritsu Maintenance Co. Ltd.	43,300		1,789,055
	LEC, Inc.	142,200		808,441
#	LITALICO, Inc.	117,100		2,226,606
*	Locondo, Inc.	21,000		164,600
	Look Holdings, Inc.	37,100		546,800
#	Mars Group Holdings Corp.	80,600		900,717
#	Maruzen CHI Holdings Co. Ltd.	106,300		239,687
	Matsuoka Corp.	10,200		66,317
	Media Do Co. Ltd.	54,200		677,584

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER DISCRETIONARY — (Continued)
	Meiko Network Japan Co. Ltd.	36,400	$	152,423
#	Meiwa Estate Co. Ltd.	73,200		304,990
#	Mikuni Corp.	154,900		319,645
#	Mitsuba Corp.	204,690		546,839
	Mizuno Corp.	114,900		2,044,214
	Monogatari Corp.	66,300		3,193,329
	Morito Co. Ltd.	107,800		526,323
	MrMax Holdings Ltd.	159,300		685,678
	Murakami Corp.	31,800		494,067
	Musashi Seimitsu Industry Co. Ltd.	299,300		3,222,459
	Nafco Co. Ltd.	54,200		591,169
	Nagahori Corp.	200		1,189
	Nagase Brothers, Inc.	200		7,567
#	Nagawa Co. Ltd.	34,200		1,754,882
#	Nakayamafuku Co. Ltd.	41,800		89,036
#	New Art Holdings Co. Ltd.	31,734		303,869
	Nextage Co. Ltd.	287,000		6,225,072
	NHK Spring Co. Ltd.	903,756		5,320,215
	Nichirin Co. Ltd.	61,160		644,868
#	Nihon House Holdings Co. Ltd.	239,600		756,880
#	Nihon Plast Co. Ltd.	107,800		324,506
	Nihon Tokushu Toryo Co. Ltd.	80,400		505,471
#	Nippon Felt Co. Ltd.	84,000		236,301
#	Nippon Piston Ring Co. Ltd.	49,800		418,190
	Nippon Seiki Co. Ltd.	303,200		1,585,314
	Nishikawa Rubber Co. Ltd.	38,500		311,721
	Nishimatsuya Chain Co. Ltd.	253,100		2,349,712
#	Nissan Shatai Co. Ltd.	477,300		2,681,739
#	Nissan Tokyo Sales Holdings Co. Ltd.	166,400		306,717
	NITTAN Corp.	93,500		167,383
	Nojima Corp.	398,000		3,705,232
	NOK Corp.	342,980		2,677,812
#	Ohashi Technica, Inc.	67,600		621,949
#	Ohsho Food Service Corp.	65,100		2,878,256
# *	Oisix ra daichi, Inc.	162,700		1,842,388
#	Onward Holdings Co. Ltd.	616,100		1,248,513
#	Ozu Corp.	22,200		269,722
	Pacific Industrial Co. Ltd.	270,300		1,907,955
	PAL GROUP Holdings Co. Ltd.	136,800		2,228,509
	PALTAC Corp.	21,200		652,407
#	PAPYLESS Co. Ltd.	19,200		139,941
#	Paris Miki Holdings, Inc.	115,700		187,474
#	PC Depot Corp.	177,381		329,076
*	PIA Corp.	1,700		39,061
#	Piolax, Inc.	179,700		2,206,244
	Plenus Co. Ltd.	83,700		1,115,455
	Poppins Corp.	2,100		24,524
#	Premium Water Holdings, Inc.	8,100		129,758
#	Press Kogyo Co. Ltd.	598,500		1,631,341
#	Pressance Corp.	109,900		1,107,813
	QB Net Holdings Co. Ltd.	58,700		549,424
	Raccoon Holdings, Inc.	111,700		794,082
	Regal Corp.	1,500		19,016
	Renaissance, Inc.	3,500		22,519
	Resorttrust, Inc.	521,964		8,360,383
	Rhythm Co. Ltd.	43,600		453,528
	Riberesute Corp.	46,100		242,917
	Ride On Express Holdings Co. Ltd.	46,900		342,966
*	Right On Co. Ltd.	92,925		431,236

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER DISCRETIONARY — (Continued)
#	Riken Corp.	49,400	$	779,920
	Riso Kyoiku Co. Ltd.	692,900		1,536,385
	Rock Field Co. Ltd.	94,800		956,680
	Roland Corp.	57,600		1,766,528
	Round One Corp.	931,500		4,037,750
#	Sac’s Bar Holdings, Inc.	122,950		602,566
	San Holdings, Inc.	59,900		699,524
*	Sanden Corp.	10,400		15,294
	Sanei Architecture Planning Co. Ltd.	55,200		616,081
	Sangetsu Corp.	291,250		3,220,403
	Sankyo Co. Ltd.	144,400		4,371,939
	Sankyo Seiko Co. Ltd.	232,800		716,149
#	Sanoh Industrial Co. Ltd.	154,900		713,037
#	Sanyo Electric Railway Co. Ltd.	109,898		1,668,953
# *	Sanyo Shokai Ltd.	59,599		389,004
#	Scroll Corp.	189,200		915,860
	Seiko Holdings Corp.	165,881		3,464,470
#	Seiren Co. Ltd.	284,000		4,141,197
#	Senshukai Co. Ltd.	174,600		472,861
	Seria Co. Ltd.	188,324		3,288,684
#	Shidax Corp.	149,800		606,682
	Shikibo Ltd.	68,600		417,097
	Shin-Nihon Tatemono Co. Ltd.	29,800		88,978
	Shoei Co. Ltd.	154,200		5,594,154
# *	Silver Life Co. Ltd.	15,300		139,209
#	Snow Peak, Inc.	182,900		2,762,215
#	SNT Corp.	158,100		232,765
#	Soft99 Corp.	84,400		640,599
#	Sotoh Co. Ltd.	49,100		235,152
	SPK Corp.	48,600		464,032
#	Sprix Ltd.	34,300		225,102
	St. Marc Holdings Co. Ltd.	111,200		1,233,203
	Step Co. Ltd.	60,800		748,457
#	Suminoe Textile Co. Ltd.	26,300		311,749
	Sumitomo Riko Co. Ltd.	252,100		982,043
#	Suncall Corp.	127,200		574,417
# *	SuRaLa Net Co. Ltd.	2,700		15,383
	Syuppin Co. Ltd.	134,200		1,176,881
#	T RAD Co. Ltd.	42,900		739,078
	Tachikawa Corp.	71,600		516,013
#	Tachi-S Co. Ltd.	195,940		1,450,765
#	Taiho Kogyo Co. Ltd.	113,300		528,843
	Takashimaya Co. Ltd.	879,500		10,414,315
#	Takasho Co. Ltd.	15,400		71,683
# *	Take & Give Needs Co. Ltd.	11,400		128,485
#	Takihyo Co. Ltd.	24,300		128,257
#	Tama Home Co. Ltd.	100,000		1,622,505
	Tamron Co. Ltd.	103,400		2,073,144
#	Tbk Co. Ltd.	155,300		313,358
#	Tear Corp.	60,900		177,971
	Temairazu, Inc.	14,900		539,476
	T-Gaia Corp.	136,400		1,545,831
#	Tigers Polymer Corp.	79,800		223,059
	Toa Corp.	144,900		766,989
	Tokai Rika Co. Ltd.	326,000		3,110,675
	Token Corp.	45,950		2,548,389
*	Tokyo Base Co. Ltd.	48,800		105,381
	Tokyo Individualized Educational Institute, Inc.	103,700		394,919
	Tokyo Radiator Manufacturing Co. Ltd.	24,300		100,769

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER DISCRETIONARY — (Continued)
	Tokyotokeiba Co. Ltd.	98,100	$	2,796,983
	Tomy Co. Ltd.	564,293		4,827,685
	Topre Corp.	219,800		1,688,274
#	Toridoll Holdings Corp.	301,500		6,242,146
	Tosho Co. Ltd.	4,400		36,977
	Toyo Tire Corp.	273,700		2,979,107
	Toyoda Gosei Co. Ltd.	38,900		588,975
	TPR Co. Ltd.	150,662		1,238,532
	Treasure Factory Co. Ltd.	10,300		126,879
	TS Tech Co. Ltd.	449,686		4,411,765
	TSI Holdings Co. Ltd.	301,095		823,522
*	Tsukada Global Holdings, Inc.	86,100		211,185
#	Tsutsumi Jewelry Co. Ltd.	39,000		543,047
#	Twinbird Corp.	9,200		38,768
#	Unipres Corp.	224,297		1,375,982
# *	Unitika Ltd.	373,200		768,459
	Univance Corp.	10,000		23,798
*	Universal Entertainment Corp.	98,000		1,257,711
	Valuence Holdings, Inc.	1,600		23,221
*	Village Vanguard Co. Ltd.	36,600		270,723
	VT Holdings Co. Ltd.	492,000		1,615,726
	Wacoal Holdings Corp.	267,700		3,976,290
#	Waseda Academy Co. Ltd.	43,600		312,223
#	Watts Co. Ltd.	52,100		244,298
	Weds Co. Ltd.	14,500		47,486
	World Co. Ltd.	94,100		906,694
	Xebio Holdings Co. Ltd.	159,896		1,065,066
#	Yachiyo Industry Co. Ltd.	48,100		206,186
	Yagi & Co. Ltd.	18,600		152,163
	Yamae Group Holdings Co. Ltd.	9,400		103,255
	Yamato International, Inc.	85,200		151,602
#	Yasunaga Corp.	36,200		163,732
	Yellow Hat Ltd.	221,700		2,748,125
	Yondoshi Holdings, Inc.	101,520		1,205,169
	Yonex Co. Ltd.	73,500		682,026
	Yorozu Corp.	126,100		698,727
#	Yoshinoya Holdings Co. Ltd.	273,800		4,439,083
	Yutaka Giken Co. Ltd.	8,700		102,441
	Zojirushi Corp.	14,700		158,686

TOTAL CONSUMER DISCRETIONARY				376,080,215

CONSUMER STAPLES — (7.9%)
#	Aeon Hokkaido Corp.	178,900		1,400,152
#	AFC-HD AMS Life Science Co. Ltd.	53,800		277,982
	Ain Holdings, Inc.	119,800		5,177,477
#	Albis Co. Ltd.	38,700		623,603
	Arcs Co. Ltd.	269,000		3,838,651
	Artnature, Inc.	116,400		582,302
	Axial Retailing, Inc.	108,000		2,427,001
*	Axxzia, Inc.	4,800		41,230
	Belc Co. Ltd.	67,200		2,504,553
	Bourbon Corp.	54,800		799,764
	Bull-Dog Sauce Co. Ltd.	3,000		37,804
	Cawachi Ltd.	79,400		1,168,833
	C’BON COSMETICS Co. Ltd.	10,800		122,439
	Chubu Shiryo Co. Ltd.	132,400		952,871
	Chuo Gyorui Co. Ltd.	9,800		196,474
	Como Co. Ltd.	2,600		48,178
#	Cota Co. Ltd.	113,591		1,203,970

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER STAPLES — (Continued)
	Create SD Holdings Co. Ltd.	137,500	$	2,987,728
#	Daikokutenbussan Co. Ltd.	34,800		1,264,804
	Delica Foods Holdings Co. Ltd.	66,400		231,674
	DyDo Group Holdings, Inc.	58,700		1,955,439
	Earth Corp.	65,400		2,345,949
	Ebara Foods Industry, Inc.	30,900		644,857
#	Eco’s Co. Ltd.	45,800		572,514
#	Ensuiko Sugar Refining Co. Ltd.	86,200		118,458
	Ezaki Glico Co. Ltd.	189,400		4,667,792
	Feed One Co. Ltd.	153,348		705,516
#	Fuji Co. Ltd.	118,700		1,546,365
#	Fuji Oil Holdings, Inc.	237,500		3,949,631
#	Fujicco Co. Ltd.	122,300		1,614,969
	Fujiya Co. Ltd.	70,000		1,183,242
	G-7 Holdings, Inc.	141,300		1,394,210
	Genky DrugStores Co. Ltd.	51,000		1,267,190
#	HABA Laboratories, Inc.	15,000		246,419
	Hagoromo Foods Corp.	17,900		374,733
	Halows Co. Ltd.	56,100		1,125,262
	Heiwado Co. Ltd.	190,100		2,624,454
	Hokkaido Coca-Cola Bottling Co. Ltd.	18,699		529,072
	Hokuto Corp.	139,200		1,823,878
#	Ichimasa Kamaboko Co. Ltd.	46,500		247,881
	Imuraya Group Co. Ltd.	61,500		929,436
#	Inageya Co. Ltd.	44,600		353,615
*	I-NE Co. Ltd.	6,800		202,994
	Itochu-Shokuhin Co. Ltd.	35,100		1,176,715
	Itoham Yonekyu Holdings, Inc.	706,300		3,249,852
	Iwatsuka Confectionery Co. Ltd.	8,700		243,011
	JM Holdings Co. Ltd.	77,000		895,327
	J-Oil Mills, Inc.	122,300		1,314,440
	Kadoya Sesame Mills, Inc.	15,600		383,226
	Kakiyasu Honten Co. Ltd.	53,400		833,729
#	Kameda Seika Co. Ltd.	66,800		2,120,637
#	Kaneko Seeds Co. Ltd.	44,700		453,963
#	Kanemi Co. Ltd.	1,200		22,863
	Kansai Food Market Ltd.	11,400		88,014
	Kato Sangyo Co. Ltd.	150,800		3,480,275
	Kenko Mayonnaise Co. Ltd.	73,300		789,023
#	Kibun Foods, Inc.	12,200		76,892
#	Kitanotatsujin Corp.	380,600		677,798
	Koike-ya, Inc.	300		11,074
	Kotobuki Spirits Co. Ltd.	26,000		1,497,658
	Kusuri no Aoki Holdings Co. Ltd.	83,800		3,950,111
	Kyokuyo Co. Ltd.	59,999		1,497,282
	Lacto Japan Co. Ltd.	47,000		696,600
	Life Corp.	79,900		1,481,068
	Mandom Corp.	214,500		2,258,342
#	Marudai Food Co. Ltd.	129,900		1,281,712
	Maruha Nichiro Corp.	216,707		3,687,138
	Maxvalu Tokai Co. Ltd.	47,000		866,679
#	Medical System Network Co. Ltd.	152,000		415,908
	Megmilk Snow Brand Co. Ltd.	277,000		3,270,759
#	Meito Sangyo Co. Ltd.	54,100		598,725
	Milbon Co. Ltd.	164,552		7,259,670
#	Ministop Co. Ltd.	90,500		888,956
	Mitsubishi Shokuhin Co. Ltd.	103,900		2,340,185
	Mitsui DM Sugar Holdings Co. Ltd.	110,870		1,451,076
	Miyoshi Oil & Fat Co. Ltd.	36,000		247,621

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER STAPLES — (Continued)
	Morinaga & Co. Ltd.	214,799	$	5,877,819
	Morinaga Milk Industry Co. Ltd.	138,100		4,048,566
	Morozoff Ltd.	37,400		958,327
#	MTG Co. Ltd.	24,700		208,756
#	Nagatanien Holdings Co. Ltd.	74,900		1,032,704
#	Nakamuraya Co. Ltd.	26,699		573,967
	Natori Co. Ltd.	65,000		893,394
#	Nichimo Co. Ltd.	16,300		301,275
#	Nihon Chouzai Co. Ltd.	73,420		642,034
	Niitaka Co. Ltd.	12,960		202,027
	Nippn Corp.	346,000		3,715,555
	Nippon Beet Sugar Manufacturing Co. Ltd.	65,500		732,496
	Nippon Suisan Kaisha Ltd.	1,893,700		7,126,272
	Nishimoto Co. Ltd.	19,500		521,939
	Nisshin Oillio Group Ltd.	154,600		3,413,023
#	Nissin Sugar Co. Ltd.	98,300		1,175,756
	Nitto Fuji Flour Milling Co. Ltd.	16,200		536,790
#	Noevir Holdings Co. Ltd.	85,800		3,369,125
	Oenon Holdings, Inc.	294,200		557,477
#	OIE Sangyo Co. Ltd.	22,000		126,911
	Okuwa Co. Ltd.	155,300		968,412
#	Olympic Group Corp.	49,700		193,754
#	OUG Holdings, Inc.	21,300		396,991
	Pickles Holdings Co. Ltd.	56,900		384,577
	Pigeon Corp.	552,825		8,081,820
#	Prima Meat Packers Ltd.	177,300		2,564,565
#	Qol Holdings Co. Ltd.	164,500		1,376,923
	Retail Partners Co. Ltd.	107,600		828,214
#	Riken Vitamin Co. Ltd.	143,000		1,736,687
	Rokko Butter Co. Ltd.	84,200		810,645
	S Foods, Inc.	114,862		2,410,376
	S&B Foods, Inc.	42,798		1,099,492
#	Sagami Rubber Industries Co. Ltd.	56,000		293,595
	San-A Co. Ltd.	116,600		3,518,587
	Sapporo Holdings Ltd.	394,920		8,706,430
	Sato Foods Co. Ltd.	800		28,284
	Satudora Holdings Co. Ltd.	3,900		18,057
#	Shinnihonseiyaku Co. Ltd.	42,700		442,950
	Shinobu Foods Products Co. Ltd.	1,600		6,765
	Shoei Foods Corp.	67,600		1,938,418
	Showa Sangyo Co. Ltd.	114,300		1,960,228
	Soiken Holdings, Inc.	39,400		103,959
	ST Corp.	37,100		385,406
	Starzen Co. Ltd.	89,900		1,261,792
	Takara Holdings, Inc.	536,000		3,915,335
	Toho Co. Ltd.	49,900		551,688
	Torigoe Co. Ltd.	94,500		432,998
#	Transaction Co. Ltd.	89,700		659,411
#	United Super Markets Holdings, Inc.	350,600		2,558,572
	Valor Holdings Co. Ltd.	220,700		2,717,671
	Warabeya Nichiyo Holdings Co. Ltd.	86,460		1,327,249
	Watahan & Co. Ltd.	94,100		896,181
#	Yaizu Suisankagaku Industry Co. Ltd.	62,100		372,039
	YAKUODO Holdings Co. Ltd.	69,400		1,116,875
	YA-MAN Ltd.	194,200		1,566,333
	Yamatane Corp.	59,000		646,092
#	Yamaya Corp.	23,500		402,279
#	Yamazawa Co. Ltd.	11,800		100,673
#	Yaoko Co. Ltd.	53,200		2,412,279

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER STAPLES — (Continued)
#	Yokorei Co. Ltd.	306,400	$	1,865,483
	Yomeishu Seizo Co. Ltd.	48,700		599,552
*	Yoshimura Food Holdings KK	29,300		98,932
#	Yuasa Funashoku Co. Ltd.	14,300		258,610
#	Yukiguni Maitake Co. Ltd.	39,400		271,837
	Yutaka Foods Corp.	3,900		51,424

TOTAL CONSUMER STAPLES				204,170,348

ENERGY — (0.7%)
#	BP Castrol KK	44,100		328,728
	Fuji Kosan Co. Ltd.	4,400		34,803
#	Fuji Oil Co. Ltd.	287,900		577,034
	Itochu Enex Co. Ltd.	354,900		2,503,413
#	Japan Oil Transportation Co. Ltd.	15,500		245,923
#	Japan Petroleum Exploration Co. Ltd.	221,700		5,352,339
	Mitsuuroko Group Holdings Co. Ltd.	197,500		1,318,534
	Nippon Coke & Engineering Co. Ltd.	978,100		613,655
	Sala Corp.	322,100		1,695,427
	San-Ai Obbli Co. Ltd.	389,000		2,995,119
	Sinanen Holdings Co. Ltd.	46,500		1,249,698
#	Toa Oil Co. Ltd.	46,200		700,015
	Toyo Kanetsu KK	48,700		824,760

TOTAL ENERGY				18,439,448

FINANCIALS — (8.8%)
	77 Bank Ltd.	363,152		4,487,194
#	Advance Create Co. Ltd.	63,400		422,183
	AEON Financial Service Co. Ltd.	124,500		1,235,466
# *	Aichi Bank Ltd.	48,700		1,901,161
	Aiful Corp.	1,494,900		3,895,568
#	Aizawa Securities Group Co. Ltd.	200,800		893,074
	Akatsuki Corp.	144,000		312,381
	Akita Bank Ltd.	88,440		983,194
	Anicom Holdings, Inc.	108,300		424,769
# *	Aruhi Corp.	174,700		1,663,314
#	Asax Co. Ltd.	9,300		37,120
#	Awa Bank Ltd.	232,100		3,037,420
#	Bank of Iwate Ltd.	82,982		1,028,018
#	Bank of Kochi Ltd.	56,100		247,536
#	Bank of Nagoya Ltd.	75,630		1,571,969
	Bank of Saga Ltd.	80,920		849,781
	Bank of the Ryukyus Ltd.	262,280		1,390,064
#	Bank of Toyama Ltd.	14,500		174,335
#	Casa, Inc.	28,400		157,398
	Chiba Kogyo Bank Ltd.	264,158		515,683
	Chugoku Bank Ltd.	691,400		4,361,557
# *	Chukyo Bank Ltd.	61,400		785,265
	Credit Saison Co. Ltd.	426,500		4,998,035
	Daishi Hokuetsu Financial Group, Inc.	262,500		4,872,867
	Daito Bank Ltd.	57,400		240,945
	eGuarantee, Inc.	221,400		3,824,664
#	Ehime Bank Ltd.	198,673		1,182,433
#	Entrust, Inc.	54,900		225,024
	FIDEA Holdings Co. Ltd.	124,790		1,088,198
#	Financial Products Group Co. Ltd.	233,900		1,828,955
#	First Bank of Toyama Ltd.	319,000		892,710
#	First Brothers Co. Ltd.	34,600		201,980
	Fukui Bank Ltd.	123,200		1,164,546

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
FINANCIALS — (Continued)
	Fukushima Bank Ltd.	17,200	$	24,607
	Fuyo General Lease Co. Ltd.	114,800		6,267,019
#	GMO Financial Holdings, Inc.	249,100		1,232,082
	Gunma Bank Ltd.	2,072,540		5,634,547
	Hachijuni Bank Ltd.	1,980,900		6,581,937
	Hirogin Holdings, Inc.	1,534,800		6,456,201
	Hirose Tusyo, Inc.	20,800		337,968
#	Hokkoku Financial Holdings, Inc.	145,200		4,752,081
	Hokuhoku Financial Group, Inc.	798,400		4,721,159
	HS Holdings Co. Ltd.	152,200		1,174,828
	Hyakugo Bank Ltd.	1,393,709		3,060,743
	Hyakujushi Bank Ltd.	134,700		1,553,912
#	Ichiyoshi Securities Co. Ltd.	224,000		919,606
#	IwaiCosmo Holdings, Inc.	123,900		1,038,197
*	Iyo Bank Ltd.	1,270,418		6,205,939
#	J Trust Co. Ltd.	345,400		1,382,769
	Jaccs Co. Ltd.	147,700		3,669,532
	JAFCO Group Co. Ltd.	588,100		8,659,863
*	Japan Asia Investment Co. Ltd.	69,300		98,161
	Japan Investment Adviser Co. Ltd.	70,300		642,225
#	Japan Securities Finance Co. Ltd.	581,200		3,298,562
#	Jimoto Holdings, Inc.	110,550		356,737
	J-Lease Co. Ltd.	31,900		499,174
	Juroku Financial Group, Inc.	191,700		3,238,566
	Keiyo Bank Ltd.	651,700		2,127,213
#	Kita-Nippon Bank Ltd.	43,506		529,340
	Kiyo Bank Ltd.	416,190		3,994,824
	Kyokuto Securities Co. Ltd.	152,800		702,844
	Kyushu Financial Group, Inc.	1,975,137		5,232,638
#	Kyushu Leasing Service Co. Ltd.	34,000		138,310
# *	M&A Capital Partners Co. Ltd.	92,100		2,359,748
#	Marusan Securities Co. Ltd.	336,700		1,009,814
#	Matsui Securities Co. Ltd.	568,800		3,067,584
	Mercuria Holdings Co. Ltd.	58,400		245,603
#	Minkabu The Infonoid, Inc.	21,700		308,622
#	Mito Securities Co. Ltd.	359,500		589,246
	Miyazaki Bank Ltd.	102,900		1,528,299
	Mizuho Leasing Co. Ltd.	180,700		3,891,370
#	Monex Group, Inc.	1,059,200		3,297,823
#	Money Partners Group Co. Ltd.	149,100		270,724
#	Morningstar Japan KK	131,300		421,083
#	Mortgage Service Japan Ltd.	26,100		151,560
	Musashino Bank Ltd.	183,200		2,162,778
	Nagano Bank Ltd.	43,899		414,376
	Nanto Bank Ltd.	176,700		2,568,893
	NEC Capital Solutions Ltd.	60,200		859,014
	Nishi-Nippon Financial Holdings, Inc.	779,700		4,049,186
	North Pacific Bank Ltd.	1,785,600		2,808,374
# *	OAK Capital Corp.	297,500		149,813
	Ogaki Kyoritsu Bank Ltd.	227,000		2,691,935
	Oita Bank Ltd.	84,199		1,057,634
#	Okasan Securities Group, Inc.	964,900		2,175,691
	Okinawa Financial Group, Inc.	143,060		2,075,546
	Orient Corp.	280,890		2,228,234
	Premium Group Co. Ltd.	163,200		2,003,234
	Procrea Holdings, Inc.	238,972		3,513,651
	Ricoh Leasing Co. Ltd.	97,600		2,381,852
	San ju San Financial Group, Inc.	118,793		1,158,894
	San-In Godo Bank Ltd.	963,500		4,677,322

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
FINANCIALS — (Continued)
*	SBI Insurance Group Co. Ltd.	7,600	$	42,183
	Senshu Ikeda Holdings, Inc.	1,232,328		1,784,812
#	Seven Bank Ltd.	787,400		1,410,715
#	Shiga Bank Ltd.	288,700		5,224,879
	Shikoku Bank Ltd.	239,000		1,409,891
#	Shimizu Bank Ltd.	58,200		584,763
#	Sparx Group Co. Ltd.	118,060		1,083,483
	Strike Co. Ltd.	51,700		1,379,908
	Suruga Bank Ltd.	900,700		2,322,073
#	Taiko Bank Ltd.	41,800		375,071
	Tochigi Bank Ltd.	565,200		1,073,781
	Toho Bank Ltd.	1,273,900		1,792,042
#	Tohoku Bank Ltd.	63,300		414,909
	Tokai Tokyo Financial Holdings, Inc.	1,334,300		3,257,980
	Tokyo Kiraboshi Financial Group, Inc.	170,738		2,510,018
	Tomato Bank Ltd.	54,500		380,697
	TOMONY Holdings, Inc.	937,250		2,011,376
#	Tottori Bank Ltd.	53,100		399,638
	Towa Bank Ltd.	210,300		746,553
	Toyo Securities Co. Ltd.	390,800		706,863
	Traders Holdings Co. Ltd.	13,720		41,221
	Tsukuba Bank Ltd.	461,800		592,753
	Yamagata Bank Ltd.	143,600		991,883
	Yamaguchi Financial Group, Inc.	1,237,672		6,589,533
	Yamanashi Chuo Bank Ltd.	162,526		1,299,644

TOTAL FINANCIALS				227,970,963

HEALTH CARE — (4.9%)
	Amvis Holdings, Inc.	35,600		598,902
	As One Corp.	73,700		3,043,801
	ASKA Pharmaceutical Holdings Co. Ltd.	141,700		1,090,246
	Astena Holdings Co. Ltd.	194,800		574,973
	BML, Inc.	147,600		3,331,707
#	Carenet, Inc.	130,800		1,086,918
	CE Holdings Co. Ltd.	9,500		30,357
# *	CellSource Co. Ltd.	21,100		637,236
	Charm Care Corp. KK	113,900		820,055
	CMIC Holdings Co. Ltd.	63,200		666,242
	Create Medic Co. Ltd.	38,700		237,750
#	Daiken Medical Co. Ltd.	116,700		376,372
	Daito Pharmaceutical Co. Ltd.	77,580		1,319,220
	Dvx, Inc.	23,900		141,222
	Eiken Chemical Co. Ltd.	205,400		2,557,736
	Elan Corp.	208,600		1,544,532
	EM Systems Co. Ltd.	24,900		147,673
#	FALCO HOLDINGS Co. Ltd.	53,300		642,518
	FINDEX, Inc.	94,500		374,149
	France Bed Holdings Co. Ltd.	158,600		987,698
	Fuji Pharma Co. Ltd.	97,600		699,202
	Fukuda Denshi Co. Ltd.	63,200		3,127,104
#	Fuso Pharmaceutical Industries Ltd.	42,600		579,905
	H.U. Group Holdings, Inc.	348,800		6,350,044
#	Hogy Medical Co. Ltd.	87,300		2,148,859
#	Hoshi Iryo-Sanki Co. Ltd.	9,600		244,782
	I’rom Group Co. Ltd.	38,400		625,222
# *	Japan Animal Referral Medical Center Co. Ltd.	9,600		119,922
*	Japan Hospice Holdings, Inc.	12,400		163,200
	Japan Lifeline Co. Ltd.	392,500		2,623,055
	Japan Medical Dynamic Marketing, Inc.	104,500		899,309

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
HEALTH CARE — (Continued)
#	JMS Co. Ltd.	104,457	$	385,259
	Kaken Pharmaceutical Co. Ltd.	116,400		3,066,397
	Kanamic Network Co. Ltd.	139,700		490,982
	Kissei Pharmaceutical Co. Ltd.	175,800		3,122,988
	Koa Shoji Holdings Co. Ltd.	4,100		17,898
#	KYORIN Holdings, Inc.	261,400		3,195,707
#	Linical Co. Ltd.	69,400		357,416
	Mani, Inc.	358,900		4,354,113
	Medical Data Vision Co. Ltd.	168,300		1,222,180
	Medikit Co. Ltd.	2,000		32,230
	Medius Holdings Co. Ltd.	68,500		330,799
# *	MedPeer, Inc.	84,200		748,137
	Menicon Co. Ltd.	265,200		5,439,269
#	Mizuho Medy Co. Ltd.	22,400		424,290
	Mochida Pharmaceutical Co. Ltd.	56,798		1,324,102
	Nakanishi, Inc.	324,500		5,933,884
	Nihon Kohden Corp.	195,900		4,162,050
	Nippon Chemiphar Co. Ltd.	12,500		152,812
	Nipro Corp.	836,500		6,284,043
	Paramount Bed Holdings Co. Ltd.	254,000		4,523,705
*	PeptiDream, Inc.	143,700		1,601,096
	Rion Co. Ltd.	54,600		747,242
	Sawai Group Holdings Co. Ltd.	161,200		4,515,142
#	Seed Co. Ltd.	68,100		251,433
	Seikagaku Corp.	233,700		1,345,646
#	Shin Nippon Biomedical Laboratories Ltd.	134,300		2,498,770
	Ship Healthcare Holdings, Inc.	346,200		6,503,333
#	Shofu, Inc.	69,900		1,132,049
	Software Service, Inc.	18,800		1,080,232
	Solasto Corp.	331,500		1,975,446
#	St-Care Holding Corp.	81,600		459,914
# *	SymBio Pharmaceuticals Ltd.	62,300		308,809
	Takara Bio, Inc.	150,900		1,770,151
#	Techno Medica Co. Ltd.	14,700		162,025
	Toho Holdings Co. Ltd.	303,300		4,063,005
	Tokai Corp.	134,700		1,667,274
	Torii Pharmaceutical Co. Ltd.	89,800		1,785,660
#	Towa Pharmaceutical Co. Ltd.	173,300		2,547,100
#	Trans Genic, Inc.	51,100		108,903
	Tsumura & Co.	209,318		4,468,564
	Value HR Co. Ltd.	92,800		941,299
	Vital KSK Holdings, Inc.	262,800		1,176,841
# *	Wakamoto Pharmaceutical Co. Ltd.	85,300		140,628
#	WIN-Partners Co. Ltd.	106,100		694,011
	ZERIA Pharmaceutical Co. Ltd.	39,000		558,099

TOTAL HEALTH CARE				125,860,844

INDUSTRIALS — (28.0%)
	Advan Group Co. Ltd.	144,200		811,411
	Aeon Delight Co. Ltd.	105,900		2,078,286
	Aichi Corp.	223,100		1,209,597
	Aida Engineering Ltd.	310,500		1,760,486
	Airtech Japan Ltd.	2,000		14,730
	AIT Corp.	8,100		81,498
#	Ajis Co. Ltd.	28,900		404,685
	Alconix Corp.	143,100		1,299,481
#	Alinco, Inc.	80,500		500,896
	Alps Logistics Co. Ltd.	110,100		785,893
#	Altech Corp.	101,970		1,304,444

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
	Anest Iwata Corp.	220,200	$	1,303,852
	Asahi Diamond Industrial Co. Ltd.	342,800		1,701,883
	Asahi Kogyosha Co. Ltd.	51,400		628,709
	Asanuma Corp.	84,200		1,556,739
#	Asukanet Co. Ltd.	31,200		201,720
	Bando Chemical Industries Ltd.	210,500		1,493,880
#	Br Holdings Corp.	221,200		487,612
#	Bunka Shutter Co. Ltd.	351,900		2,492,858
	Canare Electric Co. Ltd.	21,200		206,426
	Careerlink Co. Ltd.	20,500		314,851
#	Central Glass Co. Ltd.	217,900		5,016,732
	Central Security Patrols Co. Ltd.	53,000		872,657
	Chilled & Frozen Logistics Holdings Co. Ltd.	98,500		753,225
*	Chiyoda Corp.	906,000		2,368,236
	Chiyoda Integre Co. Ltd.	67,900		1,007,542
	Chori Co. Ltd.	73,000		966,988
	Chudenko Corp.	187,800		2,712,493
#	Chugai Ro Co. Ltd.	37,600		399,675
#	Chuo Warehouse Co. Ltd.	21,000		132,388
	CKD Corp.	239,900		2,848,470
#	CMC Corp.	30,200		246,117
	Cosel Co. Ltd.	146,800		832,582
	Creek & River Co. Ltd.	67,100		1,147,815
	CTI Engineering Co. Ltd.	70,300		1,377,369
	CTS Co. Ltd.	157,100		793,944
	Dai-Dan Co. Ltd.	89,200		1,318,701
#	Daido Kogyo Co. Ltd.	49,400		238,930
	Daihatsu Diesel Manufacturing Co. Ltd.	119,100		406,416
	Daihen Corp.	128,100		3,289,810
#	Daiho Corp.	91,600		2,624,814
	Dai-Ichi Cutter Kogyo KK	46,300		396,528
	Daiichi Jitsugyo Co. Ltd.	52,000		1,385,774
#	Daiichi Kensetsu Corp.	35,200		352,973
	Daiki Axis Co. Ltd.	41,900		184,598
#	Daiohs Corp.	22,100		228,540
	Daiseki Co. Ltd.	290,755		8,913,207
#	Daiseki Eco. Solution Co. Ltd.	39,159		234,368
#	Daisue Construction Co. Ltd.	48,200		473,793
	Daiwa Industries Ltd.	196,200		1,554,244
	Denyo Co. Ltd.	96,400		914,562
	dip Corp.	198,900		5,052,672
	DMG Mori Co. Ltd.	731,800		8,357,957
	DMW Corp.	4,800		99,478
	Duskin Co. Ltd.	265,400		5,216,064
	Ebara Jitsugyo Co. Ltd.	64,800		972,438
#	Eidai Co. Ltd.	184,700		294,019
#	EJ Holdings, Inc.	30,100		270,453
	en Japan, Inc.	188,308		2,905,308
	Endo Lighting Corp.	56,300		280,996
#	Envipro Holdings, Inc.	34,400		185,217
#	ERI Holdings Co. Ltd.	14,100		105,555
	Escrow Agent Japan, Inc.	124,700		136,444
	EXEO Group, Inc.	253,700		3,667,913
	F&M Co. Ltd.	44,400		724,403
*	FDK Corp.	64,298		345,166
	Forum Engineering, Inc.	24,500		154,699
	Freund Corp.	75,600		368,265
	Frontier Management, Inc.	7,200		57,317
	Fudo Tetra Corp.	101,380		1,033,437

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
	Fuji Corp.	357,900	$	4,683,640
	Fuji Die Co. Ltd.	55,300		216,855
	Fuji Furukawa Engineering & Construction Co. Ltd.	1,800		41,481
	Fujikura Ltd.	1,559,000		9,298,508
	Fujimak Corp.	11,100		54,425
	Fujisash Co. Ltd.	573,900		270,142
	Fukuda Corp.	53,200		1,768,219
	Fukushima Galilei Co. Ltd.	82,400		2,036,295
	Fukuvi Chemical Industry Co. Ltd.	10,600		41,844
#	Fukuyama Transporting Co. Ltd.	94,357		2,133,546
	FULLCAST Holdings Co. Ltd.	126,600		2,227,610
	Funai Soken Holdings, Inc.	241,570		4,106,388
	Furukawa Co. Ltd.	194,000		1,625,143
	Furukawa Electric Co. Ltd.	424,300		6,726,773
#	Futaba Corp.	208,200		881,637
	Gakujo Co. Ltd.	5,600		55,188
	Gecoss Corp.	95,900		520,329
	Giken Ltd.	5,400		116,891
	Glory Ltd.	288,855		4,239,897
	gremz, Inc.	25,500		273,051
	GS Yuasa Corp.	393,683		6,143,143
	Hamakyorex Co. Ltd.	102,600		2,223,277
	Hanwa Co. Ltd.	172,200		4,078,398
#	Hashimoto Sogyo Holdings Co. Ltd.	8,140		54,395
#	Hazama Ando Corp.	1,162,500		6,711,426
#	Helios Techno Holding Co. Ltd.	109,800		307,475
	Hibiya Engineering Ltd.	109,900		1,415,179
	Hirakawa Hewtech Corp.	70,800		505,335
#	Hirano Tecseed Co. Ltd.	59,400		716,805
#	Hirata Corp.	31,900		907,807
	Hisaka Works Ltd.	127,300		718,276
	Hitachi Zosen Corp.	1,035,679		6,132,321
	Hito Communications Holdings, Inc.	43,900		501,307
#	Hokuetsu Industries Co. Ltd.	139,500		927,466
#	Hokuriku Electrical Construction Co. Ltd.	89,040		434,665
#	Hosokawa Micron Corp.	89,300		1,517,941
#	Howa Machinery Ltd.	65,100		363,355
#	Ichikawa Co. Ltd.	1,000		9,297
#	Ichiken Co. Ltd.	33,600		413,610
#	Ichinen Holdings Co. Ltd.	125,100		1,050,381
	Idec Corp.	191,700		3,885,226
	Ihara Science Corp.	52,900		817,367
#	Iino Kaiun Kaisha Ltd.	513,400		2,300,816
	Impact HD, Inc.	20,500		529,200
	Imura Envelope Co., Inc.	13,700		75,577
	Inaba Denki Sangyo Co. Ltd.	322,900		6,086,722
#	Inaba Seisakusho Co. Ltd.	61,700		576,315
	Inabata & Co. Ltd.	287,700		4,633,331
	INFRONEER Holdings, Inc.	757,388		5,133,613
	Insource Co. Ltd.	147,650		2,674,897
#	Inui Global Logistics Co. Ltd.	80,380		907,753
	IR Japan Holdings Ltd.	56,500		798,739
	Iseki & Co. Ltd.	116,500		941,502
	Ishii Iron Works Co. Ltd.	11,000		213,104
	Itoki Corp.	213,100		590,247
	Iwaki Co. Ltd.	56,100		489,858
	Iwasaki Electric Co. Ltd.	42,200		737,948
	JAC Recruitment Co. Ltd.	105,100		1,609,319
	Japan Elevator Service Holdings Co. Ltd.	364,900		4,774,838

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
#	Japan Foundation Engineering Co. Ltd.	122,400	$	387,001
	Japan Pulp & Paper Co. Ltd.	72,600		2,186,583
	Japan Steel Works Ltd.	171,500		3,381,725
	Japan Transcity Corp.	244,600		810,240
	JDC Corp.	73,700		320,013
#	JK Holdings Co. Ltd.	92,940		634,599
#	Juki Corp.	174,000		828,879
	Kamei Corp.	148,700		1,096,452
	Kanaden Corp.	113,500		801,064
#	Kanagawa Chuo Kotsu Co. Ltd.	42,800		1,002,228
	Kaname Kogyo Co. Ltd.	1,300		7,055
	Kanamoto Co. Ltd.	200,700		2,867,113
	Kandenko Co. Ltd.	621,700		3,574,145
	Kanematsu Corp.	506,325		4,983,885
	Katakura Industries Co. Ltd.	151,500		2,140,131
#	Kato Works Co. Ltd.	62,800		323,104
	Kawada Technologies, Inc.	32,300		823,159
	Kawagishi Bridge Works Co. Ltd.	8,700		165,602
#	Kawata Manufacturing Co. Ltd.	23,300		136,099
	Keihin Co. Ltd.	15,700		152,160
	KFC Ltd.	8,700		95,597
#	Kimura Chemical Plants Co. Ltd.	98,900		461,910
#	Kimura Unity Co. Ltd.	47,000		246,350
	King Jim Co. Ltd.	59,600		375,438
	Kinki Sharyo Co. Ltd.	14,699		99,342
	Kitagawa Corp.	50,300		436,401
	Kitano Construction Corp.	24,072		388,140
	Kito Corp.	132,700		2,503,625
	Kitz Corp.	407,200		2,256,874
# *	Kobe Electric Railway Co. Ltd.	37,299		845,725
	Koike Sanso Kogyo Co. Ltd.	13,400		181,455
	Kokusai Co. Ltd.	6,600		25,524
#	Kokusai Pulp & Paper Co. Ltd.	87,100		432,675
	Kokuyo Co. Ltd.	449,525		5,697,431
#	KOMAIHALTEC, Inc.	18,200		202,280
	Komatsu Wall Industry Co. Ltd.	49,300		625,950
	Komori Corp.	299,000		1,455,509
	Kondotec, Inc.	114,200		787,977
	Konoike Transport Co. Ltd.	174,500		1,719,427
#	Kosaido Holdings Co. Ltd.	124,800		1,212,388
	Kozo Keikaku Engineering, Inc.	22,000		420,233
	KRS Corp.	75,600		666,802
	Kumagai Gumi Co. Ltd.	227,800		3,970,549
	Kuroda Precision Industries Ltd.	700		8,131
	Kyodo Printing Co. Ltd.	45,800		775,322
#	Kyokuto Boeki Kaisha Ltd.	66,000		562,295
	Kyokuto Kaihatsu Kogyo Co. Ltd.	205,600		1,883,303
# *	Kyoritsu Printing Co. Ltd.	151,200		135,811
	Kyudenko Corp.	207,400		3,940,684
	LIKE, Inc.	68,700		1,022,374
#	Link & Motivation, Inc.	252,500		1,341,801
	Lonseal Corp.	7,700		63,934
*	LTS, Inc.	2,100		45,067
	Mabuchi Motor Co. Ltd.	239,800		6,510,985
#	Maezawa Industries, Inc.	49,000		212,340
#	Maezawa Kasei Industries Co. Ltd.	84,000		750,545
	Maezawa Kyuso Industries Co. Ltd.	122,700		757,924
	Makino Milling Machine Co. Ltd.	148,300		4,576,239
# *	Management Solutions Co. Ltd.	51,700		1,048,454

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
	Marufuji Sheet Piling Co. Ltd.	11,800	$	156,929
	MARUKA FURUSATO Corp.	45,807		977,151
#	Marumae Co. Ltd.	31,900		384,789
#	Maruwa Unyu Kikan Co. Ltd.	169,000		1,700,100
#	Maruyama Manufacturing Co., Inc.	18,800		188,114
	Maruzen Co. Ltd.	65,800		823,917
	Maruzen Showa Unyu Co. Ltd.	80,600		1,707,614
#	Matching Service Japan Co. Ltd.	52,000		302,011
	Matsuda Sangyo Co. Ltd.	79,782		1,194,628
#	Matsui Construction Co. Ltd.	125,500		488,603
	Max Co. Ltd.	164,100		2,254,635
	Meidensha Corp.	222,710		3,044,132
	Meiho Facility Works Ltd.	36,100		163,612
	Meiji Electric Industries Co. Ltd.	52,500		369,678
#	Meiji Shipping Co. Ltd.	94,000		425,647
	Meisei Industrial Co. Ltd.	222,200		1,078,494
	Meitec Corp.	484,000		7,657,951
# *	Meiwa Corp.	145,600		753,227
# *	MetaReal Corp.	22,800		158,673
	METAWATER Co. Ltd.	114,300		1,496,129
#	Midac Holdings Co. Ltd.	28,600		663,404
#	Mie Kotsu Group Holdings, Inc.	346,700		1,195,217
#	Mirai Industry Co. Ltd.	4,600		47,550
	Mirait One Corp.	577,635		5,854,536
	Mitani Corp.	294,600		2,824,650
#	Mitani Sangyo Co. Ltd.	145,000		302,796
#	Mitsubishi Kakoki Kaisha Ltd.	39,000		556,915
	Mitsubishi Logisnext Co. Ltd.	186,600		952,605
	Mitsubishi Logistics Corp.	109,600		2,583,000
	Mitsubishi Pencil Co. Ltd.	132,100		1,290,571
#	Mitsuboshi Belting Ltd.	150,300		3,132,665
*	Mitsui E&S Holdings Co. Ltd.	290,481		808,556
#	Mitsui Matsushima Holdings Co. Ltd.	74,400		1,550,913
	Mitsui-Soko Holdings Co. Ltd.	128,400		2,724,218
	Miyaji Engineering Group, Inc.	37,517		839,637
	Mori-Gumi Co. Ltd.	69,500		140,096
	Morita Holdings Corp.	209,700		1,863,052
#	NAC Co. Ltd.	61,300		389,511
	Nachi-Fujikoshi Corp.	89,900		2,201,151
	Nadex Co. Ltd.	40,600		217,257
	Nagase & Co. Ltd.	583,700		7,964,478
	Naigai Trans Line Ltd.	41,700		587,268
#	Nakabayashi Co. Ltd.	113,400		390,792
	Nakakita Seisakusho Co. Ltd.	3,700		51,535
	Nakamoto Packs Co. Ltd.	33,300		355,339
*	Nakamura Choukou Co. Ltd.	6,600		25,495
	Nakanishi Manufacturing Co. Ltd.	5,700		80,824
#	Nakano Corp.	107,000		223,443
# *	Namura Shipbuilding Co. Ltd.	268,528		1,129,392
	Nankai Electric Railway Co. Ltd.	165,700		3,387,244
	Narasaki Sangyo Co. Ltd.	25,400		297,359
	Nice Corp.	35,200		375,500
	Nichias Corp.	382,800		5,937,037
#	Nichiban Co. Ltd.	68,100		760,234
	Nichiden Corp.	97,100		1,163,615
	Nichiha Corp.	163,980		3,108,976
	Nichireki Co. Ltd.	153,000		1,359,561
	Nihon Dengi Co. Ltd.	30,800		626,769
	Nihon Flush Co. Ltd.	122,000		787,417

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
	Nikkato Corp.	44,200	$	130,873
	Nikkiso Co. Ltd.	307,500		1,930,683
#	Nikko Co. Ltd.	168,400		703,160
	Nikkon Holdings Co. Ltd.	377,400		5,890,949
	Nippi, Inc.	11,900		281,797
#	Nippon Air Conditioning Services Co. Ltd.	187,100		952,549
	Nippon Aqua Co. Ltd.	55,400		279,256
	Nippon Carbon Co. Ltd.	66,200		1,818,477
	Nippon Concept Corp.	39,500		425,090
	Nippon Densetsu Kogyo Co. Ltd.	224,600		2,852,574
#	Nippon Dry-Chemical Co. Ltd.	11,300		113,339
	Nippon Filcon Co. Ltd.	15,700		49,934
	Nippon Hume Corp.	137,300		596,887
	Nippon Koei Co. Ltd.	74,200		1,831,034
#	Nippon Parking Development Co. Ltd.	1,330,600		1,848,074
	Nippon Rietec Co. Ltd.	26,400		142,557
	Nippon Road Co. Ltd.	20,400		809,348
	Nippon Seisen Co. Ltd.	14,800		445,936
	Nippon Sharyo Ltd.	40,999		576,954
*	Nippon Sheet Glass Co. Ltd.	425,600		1,505,232
	Nippon Steel Trading Corp.	96,960		3,370,158
	Nippon Thompson Co. Ltd.	346,400		1,279,785
	Nippon Tungsten Co. Ltd.	6,699		107,454
#	Nishimatsu Construction Co. Ltd.	313,800		8,209,917
	Nishi-Nippon Railroad Co. Ltd.	240,700		4,797,019
	Nishio Rent All Co. Ltd.	123,800		2,442,814
	Nissei ASB Machine Co. Ltd.	51,100		1,260,046
	Nissei Plastic Industrial Co. Ltd.	105,100		646,146
	Nisshinbo Holdings, Inc.	911,180		6,615,275
	Nissin Corp.	92,500		1,109,841
	Nissin Electric Co. Ltd.	323,700		2,976,960
	Nisso Corp.	69,000		264,387
	Nitta Corp.	126,200		2,421,384
	Nitto Boseki Co. Ltd.	72,600		1,155,333
#	Nitto Kogyo Corp.	169,300		2,773,538
	Nitto Kohki Co. Ltd.	69,900		753,895
	Nitto Seiko Co. Ltd.	186,200		661,479
	Nittoc Construction Co. Ltd.	121,600		752,110
	NJS Co. Ltd.	36,800		500,444
	Noda Corp.	118,500		992,553
	Nomura Co. Ltd.	61,400		383,090
#	Nomura Micro Science Co. Ltd.	39,900		920,002
	Noritake Co. Ltd.	58,900		1,635,378
	Noritsu Koki Co. Ltd.	118,900		2,005,851
	Noritz Corp.	175,100		1,867,821
#	NS Tool Co. Ltd.	105,300		827,265
#	NS United Kaiun Kaisha Ltd.	59,600		1,549,846
#	NTN Corp.	2,686,900		4,735,628
#	Obara Group, Inc.	73,700		1,637,772
#	Ochi Holdings Co. Ltd.	8,900		74,782
	Odawara Engineering Co. Ltd.	9,900		99,636
#	Ohba Co. Ltd.	76,500		365,133
	Ohmoto Gumi Co. Ltd.	4,100		197,882
	Oiles Corp.	143,970		1,465,652
	Okabe Co. Ltd.	233,200		1,046,256
	Okada Aiyon Corp.	42,800		427,780
	Okamoto Machine Tool Works Ltd.	25,299		712,078
	Okamura Corp.	374,000		3,567,654
	OKUMA Corp.	150,100		5,154,500

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
	Okumura Corp.	187,880	$	3,695,449
	Onoken Co. Ltd.	107,500		1,049,768
	Organo Corp.	168,400		2,379,631
	Oriental Consultants Holdings Co. Ltd.	6,100		104,879
	Oriental Shiraishi Corp.	754,400		1,283,313
#	Origin Co. Ltd.	24,900		214,760
	OSG Corp.	520,500		6,438,313
	Outsourcing, Inc.	731,600		5,530,358
	Oyo Corp.	126,400		1,631,678
#	Paraca, Inc.	35,900		450,717
	Parker Corp.	34,000		114,210
#	Pasco Corp.	11,200		98,934
	Pasona Group, Inc.	143,100		1,977,185
	Pegasus Sewing Machine Manufacturing Co. Ltd.	139,900		833,166
	Penta-Ocean Construction Co. Ltd.	1,669,600		8,382,444
	People Dreams & Technologies Group Co. Ltd.	23,700		414,442
	Phil Co., Inc.	3,300		26,779
	Pilot Corp.	128,200		4,846,993
	Prestige International, Inc.	650,300		2,840,521
	Pronexus, Inc.	104,900		693,548
	PS Mitsubishi Construction Co. Ltd.	203,300		861,253
#	Punch Industry Co. Ltd.	88,700		254,626
	Quick Co. Ltd.	77,000		965,340
	Raito Kogyo Co. Ltd.	287,200		3,777,520
	Raiznext Corp.	271,700		2,208,215
#	Rasa Corp.	63,200		435,664
#	Rheon Automatic Machinery Co. Ltd.	120,500		953,770
#	Rix Corp.	17,300		234,139
	Ryobi Ltd.	154,540		1,326,897
#	S LINE Co. Ltd.	23,800		124,527
	Sakai Heavy Industries Ltd.	23,300		469,103
	Sakai Moving Service Co. Ltd.	71,800		2,322,598
# *	Sanix, Inc.	16,900		27,684
	Sanki Engineering Co. Ltd.	270,600		2,964,304
	Sanko Gosei Ltd.	134,300		435,229
	Sanko Metal Industrial Co. Ltd.	16,200		295,163
#	Sankyo Tateyama, Inc.	133,774		546,580
	Sankyu, Inc.	188,200		5,465,521
	Sansei Technologies, Inc.	64,500		335,963
	Sansha Electric Manufacturing Co. Ltd.	62,600		368,457
	Sanyo Denki Co. Ltd.	53,600		1,827,047
	Sanyo Engineering & Construction, Inc.	60,200		261,181
	Sanyo Industries Ltd.	9,900		110,978
	Sanyo Trading Co. Ltd.	138,600		990,937
#	Sata Construction Co. Ltd.	86,199		239,884
	Sato Holdings Corp.	177,900		2,215,446
#	Sato Shoji Corp.	86,800		679,384
	SBS Holdings, Inc.	119,400		2,295,969
#	SEC Carbon Ltd.	10,900		444,806
	Seibu Electric & Machinery Co. Ltd.	10,300		101,726
	Seika Corp.	56,700		620,800
	Seikitokyu Kogyo Co. Ltd.	185,330		967,361
	Seiko Electric Co. Ltd.	4,900		34,678
	Seino Holdings Co. Ltd.	390,500		3,137,524
	Seiwa Electric Manufacturing Co. Ltd.	1,700		5,063
	Sekisui Jushi Corp.	197,500		2,248,832
	Senko Group Holdings Co. Ltd.	704,600		4,655,896
	Senshu Electric Co. Ltd.	28,700		1,030,905
	Shibaura Machine Co. Ltd.	130,900		2,605,050

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
#	Shibusawa Warehouse Co. Ltd.	59,200	$	827,979
	Shibuya Corp.	93,700		1,566,961
	Shima Seiki Manufacturing Ltd.	169,000		2,352,470
#	Shimojima Co. Ltd.	48,800		341,421
	Shin Maint Holdings Co. Ltd.	14,600		134,034
#	Shin Nippon Air Technologies Co. Ltd.	85,480		1,064,849
#	Shinki Bus Co. Ltd.	1,900		44,105
	Shinmaywa Industries Ltd.	367,000		2,464,738
	Shinnihon Corp.	164,700		803,776
	Shinsho Corp.	31,100		790,569
	Shinwa Co. Ltd.	62,300		944,926
	Shinwa Co. Ltd.	24,800		135,494
#	SIGMAXYZ Holdings, Inc.	220,000		1,713,415
	Sinfonia Technology Co. Ltd.	137,100		1,271,867
	Sinko Industries Ltd.	124,500		1,279,135
	Sintokogio Ltd.	273,000		1,291,758
	SMS Co. Ltd.	196,400		3,967,777
#	Soda Nikka Co. Ltd.	105,700		431,045
	Sodick Co. Ltd.	286,600		1,503,726
#	Sotetsu Holdings, Inc.	123,600		2,045,082
#	Space Co. Ltd.	96,562		569,251
	S-Pool, Inc.	410,600		2,953,071
	Star Micronics Co. Ltd.	217,000		2,442,179
#	Studio Alice Co. Ltd.	56,600		841,809
	Subaru Enterprise Co. Ltd.	6,300		388,856
#	Sugimoto & Co. Ltd.	61,600		774,053
#	Sumiseki Holdings, Inc.	320,200		458,046
	Sumitomo Densetsu Co. Ltd.	110,600		1,983,215
	Sumitomo Mitsui Construction Co. Ltd.	976,140		2,998,363
#	Sumitomo Precision Products Co. Ltd.	17,284		298,639
	Sumitomo Warehouse Co. Ltd.	350,900		4,767,868
	Suzumo Machinery Co. Ltd.	4,400		30,702
	SWCC Showa Holdings Co. Ltd.	154,100		1,864,749
#	Tacmina Corp.	14,700		113,847
	Tadano Ltd.	694,500		4,062,155
	Taihei Dengyo Kaisha Ltd.	91,000		2,097,535
#	Taiheiyo Kouhatsu, Inc.	43,500		193,197
#	Taikisha Ltd.	161,000		3,583,384
	Taisei Oncho Co. Ltd.	14,900		185,864
	Takamatsu Construction Group Co. Ltd.	103,300		1,341,918
	Takamatsu Machinery Co. Ltd.	41,800		177,768
	Takamiya Co. Ltd.	137,800		367,436
	Takano Co. Ltd.	50,700		235,183
	Takaoka Toko Co. Ltd.	65,620		801,865
	Takara & Co. Ltd.	47,155		696,393
	Takara Standard Co. Ltd.	202,100		1,810,870
	Takasago Thermal Engineering Co. Ltd.	297,900		3,502,756
	Takashima & Co. Ltd.	25,200		426,305
	Takeuchi Manufacturing Co. Ltd.	225,200		4,156,737
	Takigami Steel Construction Co. Ltd.	5,300		265,761
#	Takisawa Machine Tool Co. Ltd.	37,900		275,675
	Takuma Co. Ltd.	179,900		1,542,683
	Tanabe Consulting Co. Ltd.	2,400		10,230
	Tanabe Engineering Corp.	39,500		243,365
	Tanseisha Co. Ltd.	249,249		1,311,060
#	Tatsuta Electric Wire & Cable Co. Ltd.	241,100		727,242
	TECHNO ASSOCIE Co. Ltd.	50,100		376,524
	Techno Ryowa Ltd.	68,690		407,508
	Techno Smart Corp.	49,500		391,756

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
	Teikoku Electric Manufacturing Co. Ltd.	108,100	$	1,372,982
	Teikoku Sen-I Co. Ltd.	113,000		1,210,198
	Tekken Corp.	83,400		1,021,256
	Tenox Corp.	11,500		71,065
	Teraoka Seisakusho Co. Ltd.	55,700		129,018
	Terasaki Electric Co. Ltd.	25,500		178,278
#	Tess Holdings Co. Ltd.	29,200		189,411
	Toa Corp.	93,100		1,599,248
	TOA ROAD Corp.	25,500		1,031,862
	Toba, Inc.	9,800		182,857
	Tobishima Corp.	120,270		866,935
	Tocalo Co. Ltd.	383,600		3,110,303
	Toda Corp.	748,500		3,850,407
	Toenec Corp.	54,000		1,271,196
	Togami Electric Manufacturing Co. Ltd.	17,800		210,859
#	TOKAI Holdings Corp.	645,200		3,883,804
	Tokai Lease Co. Ltd.	18,800		188,243
	Tokyo Energy & Systems, Inc.	144,700		967,899
#	Tokyo Keiki, Inc.	71,022		594,156
	Tokyo Sangyo Co. Ltd.	126,500		659,571
#	Tokyu Construction Co. Ltd.	535,700		2,327,968
	Toli Corp.	282,400		391,037
#	Tomoe Corp.	155,100		435,418
	Tomoe Engineering Co. Ltd.	47,900		815,997
	Tonami Holdings Co. Ltd.	37,500		912,650
	Torishima Pump Manufacturing Co. Ltd.	120,300		1,109,205
	Totech Corp.	49,200		1,114,991
	Totetsu Kogyo Co. Ltd.	156,200		2,506,559
#	Totoku Electric Co. Ltd.	17,700		259,456
	Toyo Construction Co. Ltd.	492,600		2,910,021
	Toyo Denki Seizo KK	25,250		151,057
# *	Toyo Engineering Corp.	194,378		749,394
#	Toyo Logistics Co. Ltd.	85,100		154,895
#	Toyo Machinery & Metal Co. Ltd.	100,000		387,643
	Toyo Tanso Co. Ltd.	80,600		1,826,768
#	Toyo Wharf & Warehouse Co. Ltd.	27,900		222,595
	Trancom Co. Ltd.	48,200		2,534,092
	TRE Holdings Corp.	142,312		1,673,659
	Trinity Industrial Corp.	36,000		163,808
	Trusco Nakayama Corp.	231,800		3,198,752
	Tsubaki Nakashima Co. Ltd.	261,300		2,030,211
	Tsubakimoto Chain Co.	164,740		3,479,254
#	Tsubakimoto Kogyo Co. Ltd.	28,400		715,801
	Tsugami Corp.	279,800		2,259,108
	Tsukishima Kikai Co. Ltd.	165,000		1,002,432
	Tsurumi Manufacturing Co. Ltd.	117,500		1,856,967
#	Ueki Corp.	60,800		519,753
#	Union Tool Co.	46,900		1,076,348
	UPR Corp.	4,500		36,821
	Ushio, Inc.	622,400		6,464,937
	UT Group Co. Ltd.	183,200		3,008,153
	Waida Manufacturing Co. Ltd.	5,100		33,444
	Wakachiku Construction Co. Ltd.	76,000		1,181,615
	Wakita & Co. Ltd.	220,000		1,771,233
#	WDB Holdings Co. Ltd.	64,600		1,072,137
	Weathernews, Inc.	36,200		1,864,680
	Welbe, Inc.	59,100		320,764
#	Will Group, Inc.	98,000		925,549
#	World Holdings Co. Ltd.	50,700		923,781

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
	Yahagi Construction Co. Ltd.	172,600	$	877,406
	YAMABIKO Corp.	219,428		1,679,936
	YAMADA Consulting Group Co. Ltd.	66,500		550,094
	Yamashina Corp.	245,700		113,398
	Yamashin-Filter Corp.	30,600		76,902
	Yamato Corp.	108,400		584,211
#	Yamaura Corp.	12,700		83,816
#	Yamazen Corp.	362,500		2,283,721
#	Yasuda Logistics Corp.	99,100		621,313
	Yokogawa Bridge Holdings Corp.	203,700		2,680,139
#	Yondenko Corp.	54,120		657,074
	Yuasa Trading Co. Ltd.	106,400		2,574,880
#	Yuken Kogyo Co. Ltd.	20,000		242,620
	Yurtec Corp.	257,400		1,254,960
	Yushin Precision Equipment Co. Ltd.	29,800		145,352
#	Zaoh Co. Ltd.	25,900		317,579
	Zenitaka Corp.	19,200		408,964
	Zuiko Corp.	94,600		444,594

TOTAL INDUSTRIALS				722,556,742

INFORMATION TECHNOLOGY — (14.7%)
#	A&D HOLON Holdings Co. Ltd.	129,500		730,212
*	Access Co. Ltd.	155,800		802,705
#	Ad-sol Nissin Corp.	47,200		477,927
	Adtec Plasma Technology Co. Ltd.	25,000		244,487
*	Advanced Media, Inc.	40,600		256,636
#	AGS Corp.	13,000		58,247
	Ai Holdings Corp.	244,900		3,501,941
#	Aichi Tokei Denki Co. Ltd.	53,600		514,432
	Aiphone Co. Ltd.	66,800		873,855
# *	Allied Telesis Holdings KK	191,200		120,057
	Alpha Systems, Inc.	29,220		825,481
	Alps Alpine Co. Ltd.	769,600		5,563,327
	Amano Corp.	290,500		4,881,129
	Anritsu Corp.	849,300		9,232,851
	AOI Electronics Co. Ltd.	27,700		361,848
	Argo Graphics, Inc.	105,300		2,632,887
	Arisawa Manufacturing Co. Ltd.	210,800		1,787,192
	Artiza Networks, Inc.	14,900		106,868
	Asahi Intelligence Service Co. Ltd.	1,300		9,738
	Ascentech KK	32,000		117,252
#	Asteria Corp.	76,600		419,665
#	Atled Corp.	15,700		182,814
	Aval Data Corp.	3,200		51,999
#	Avant Corp.	127,700		1,276,229
	Axell Corp.	23,100		184,455
	Base Co. Ltd.	15,600		373,021
	Bell System24 Holdings, Inc.	218,600		2,091,143
*	BrainPad, Inc.	87,600		528,872
	Broadband Tower, Inc.	116,500		130,672
	Broadleaf Co. Ltd.	458,300		1,594,555
#	Business Brain Showa-Ota, Inc.	39,600		382,168
#	Business Engineering Corp.	4,400		63,679
	CAC Holdings Corp.	75,200		739,541
	Canon Electronics, Inc.	125,200		1,369,823
#	CDS Co. Ltd.	15,500		176,095
	Celsys, Inc.	206,000		1,237,117
#	Change, Inc.	90,200		1,220,037
	Chino Corp.	45,000		504,636

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INFORMATION TECHNOLOGY — (Continued)
#	Citizen Watch Co. Ltd.	1,669,800	$	6,968,278
	CMK Corp.	278,600		836,324
	Computer Engineering & Consulting Ltd.	170,100		1,730,352
#	Computer Institute of Japan Ltd.	113,639		611,200
	Comture Corp.	143,900		2,272,021
	CONEXIO Corp.	98,700		810,412
#	Core Corp.	45,800		434,579
#	Cresco Ltd.	86,500		979,091
#	Cross Cat Co. Ltd.	8,200		75,184
#	Cube System, Inc.	60,600		396,608
	Cyber Com Co. Ltd.	10,600		97,021
	Cyberlinks Co. Ltd.	32,400		253,185
	Cybernet Systems Co. Ltd.	39,800		249,004
#	Cybozu, Inc.	150,100		1,550,057
	Daiko Denshi Tsushin Ltd.	23,100		72,758
#	Daishinku Corp.	160,896		963,706
	Daitron Co. Ltd.	55,600		770,466
	Daiwabo Holdings Co. Ltd.	581,600		7,498,985
	Dawn Corp.	4,000		51,361
#	Densan System Holdings Co. Ltd.	43,600		649,416
#	Dexerials Corp.	338,500		7,578,130
	Digital Arts, Inc.	75,200		3,256,117
	Digital Garage, Inc.	168,200		4,032,866
#	Digital Hearts Holdings Co. Ltd.	74,800		977,672
	Digital Information Technologies Corp.	61,700		628,681
	DKK Co. Ltd.	63,400		949,440
#	DKK-Toa Corp.	31,400		184,630
	Double Standard, Inc.	42,500		687,197
	DTS Corp.	254,000		6,038,031
	Ebase Co. Ltd.	125,600		446,272
# *	E-Guardian, Inc.	62,600		1,235,881
	Eizo Corp.	100,300		2,523,862
	Elecom Co. Ltd.	256,300		2,554,300
	Elematec Corp.	118,242		1,022,768
	Enomoto Co. Ltd.	30,200		279,123
	Enplas Corp.	48,600		1,362,915
	ESPEC Corp.	117,700		1,388,202
	Fenwal Controls of Japan Ltd.	20,500		196,528
#	Ferrotec Holdings Corp.	237,000		3,863,983
	Fixstars Corp.	105,300		762,373
#	Focus Systems Corp.	53,700		354,170
#	Forval Corp.	51,100		329,474
	FTGroup Co. Ltd.	51,000		292,930
	Fuji Soft, Inc.	67,100		3,794,661
	Fukui Computer Holdings, Inc.	58,900		1,377,151
	Furuno Electric Co. Ltd.	157,500		1,198,081
	Furuya Metal Co. Ltd.	16,500		885,103
	Future Corp.	296,700		3,236,115
	Future Innovation Group, Inc.	11,900		30,094
#	Gig Works, Inc.	40,000		91,923
#	GL Sciences, Inc.	44,500		679,457
#	Glosel Co. Ltd.	113,200		315,889
#	GMO Financial Gate, Inc.	6,800		600,067
	GMO GlobalSign Holdings KK	33,800		1,027,614
#	GMO Pepabo, Inc.	7,300		88,796
	Hagiwara Electric Holdings Co. Ltd.	48,300		702,028
#	Hakuto Co. Ltd.	84,900		1,875,066
# *	Hennge KK	13,200		75,916
	Himacs Ltd.	960		8,846

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INFORMATION TECHNOLOGY — (Continued)
	Hioki EE Corp.	63,000	$	2,735,427
	Hochiki Corp.	91,500		814,752
#	Hokuriku Electric Industry Co. Ltd.	25,139		176,823
#	Honda Tsushin Kogyo Co. Ltd.	41,295		201,147
	Horiba Ltd.	90,400		3,506,246
	Hosiden Corp.	320,100		3,270,202
*	Hotto Link, Inc.	55,800		141,506
#	HPC Systems, Inc.	17,700		241,959
	Icom, Inc.	54,900		991,353
#	ID Holdings Corp.	79,450		475,413
	Ikegami Tsushinki Co. Ltd.	499		1,894
	I’ll, Inc.	28,500		343,611
	Ines Corp.	125,400		1,264,622
#	I-Net Corp.	76,490		663,883
	Infomart Corp.	772,500		2,332,810
	Information Services International-Dentsu Ltd.	85,200		2,613,339
#	Innotech Corp.	96,100		834,321
	Intelligent Wave, Inc.	50,500		256,421
	Inter Action Corp.	58,500		615,478
	I-PEX, Inc.	72,100		619,353
	Iriso Electronics Co. Ltd.	131,700		3,601,440
	ISB Corp.	51,700		437,813
# *	ITbook Holdings Co. Ltd.	72,300		187,708
	Itfor, Inc.	172,600		908,964
#	Iwatsu Electric Co. Ltd.	53,100		280,436
	Japan Aviation Electronics Industry Ltd.	303,200		4,446,628
#	Japan Cash Machine Co. Ltd.	141,800		638,682
	Japan Electronic Materials Corp.	61,600		555,505
	Japan Material Co. Ltd.	434,600		5,556,577
#	Japan System Techniques Co. Ltd.	30,400		253,325
	Jastec Co. Ltd.	72,900		632,021
#	JBCC Holdings, Inc.	92,300		1,126,367
	JFE Systems, Inc.	10,000		156,253
# *	JIG-SAW, Inc.	18,500		535,456
	Justsystems Corp.	106,199		2,449,504
	Kaga Electronics Co. Ltd.	109,300		3,052,897
	Kanematsu Electronics Ltd.	78,100		2,154,173
*	Kaonavi, Inc.	2,800		46,436
	KEL Corp.	27,900		288,048
	Koa Corp.	195,100		2,969,981
#	Konica Minolta, Inc.	2,014,100		6,208,482
	KSK Co. Ltd.	3,000		45,551
#	Kyoden Co. Ltd.	116,100		414,061
	Kyosan Electric Manufacturing Co. Ltd.	257,600		739,141
	Kyowa Electronic Instruments Co. Ltd.	129,800		301,712
#	LAC Co. Ltd.	100,100		540,148
	Macnica Holdings, Inc.	335,450		6,289,110
#	Marubun Corp.	108,900		581,400
	Maruwa Co. Ltd.	57,700		6,155,940
	Maxell Ltd.	300,200		2,842,063
	MCJ Co. Ltd.	430,200		2,950,494
	Megachips Corp.	111,500		1,943,554
#	Meiko Electronics Co. Ltd.	131,900		2,270,504
#	Melco Holdings, Inc.	35,600		764,632
*	Metaps, Inc.	2,500		8,681
	Micronics Japan Co. Ltd.	148,500		1,213,587
	MIMAKI ENGINEERING Co. Ltd.	113,200		522,641
	Mimasu Semiconductor Industry Co. Ltd.	110,981		1,474,192
	Miraial Co. Ltd.	42,100		465,765

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INFORMATION TECHNOLOGY — (Continued)
	Miroku Jyoho Service Co. Ltd.	112,800	$	1,124,596
	Mitachi Co. Ltd.	7,900		46,811
	Mitsubishi Research Institute, Inc.	50,700		1,562,043
	m-up Holdings, Inc.	178,500		1,876,157
#	Mutoh Holdings Co. Ltd.	9,300		122,577
#	Nagano Keiki Co. Ltd.	86,800		609,687
	Naigai Tec Corp.	7,900		123,326
	Nakayo, Inc.	62,500		447,268
	NEC Networks & System Integration Corp.	158,908		1,725,077
	NET One Systems Co. Ltd.	378,700		7,351,426
	NF Holdings Corp.	22,500		152,696
#	Nichicon Corp.	308,300		2,963,165
#	Nihon Dempa Kogyo Co. Ltd.	108,100		1,061,789
	Nihon Denkei Co. Ltd.	43,300		414,164
	Nippon Ceramic Co. Ltd.	8,900		149,909
*	Nippon Chemi-Con Corp.	120,900		1,557,700
#	Nippon Computer Dynamics Co. Ltd.	36,200		174,810
# *	Nippon Denkai Ltd.	1,200		21,257
	Nippon Electric Glass Co. Ltd.	329,736		5,684,947
#	Nippon Information Development Co. Ltd.	12,600		142,284
#	Nippon Kodoshi Corp.	51,600		715,901
	Nippon Signal Company Ltd.	290,400		1,901,963
	Nissha Co. Ltd.	242,900		2,863,340
	Nohmi Bosai Ltd.	145,100		1,623,898
	NSD Co. Ltd.	489,360		8,330,077
	NSW, Inc.	48,600		713,975
	Ohara, Inc.	48,700		420,153
#	Ohizumi Mfg. Co. Ltd.	7,001		38,979
	Oki Electric Industry Co. Ltd.	515,500		2,558,092
*	ONO Sokki Co. Ltd.	32,200		88,489
	Optex Group Co. Ltd.	174,820		2,564,886
*	Optim Corp.	86,500		478,818
	Optorun Co. Ltd.	110,300		1,592,544
	Oro Co. Ltd.	37,200		374,858
	Osaki Electric Co. Ltd.	281,800		973,016
#	Oval Corp.	35,600		105,536
*	Oxide Corp.	3,200		125,939
#	PCA Corp.	40,900		289,382
#	PCI Holdings, Inc.	45,300		288,436
	Pole To Win Holdings, Inc.	201,400		1,289,624
#	Pro-Ship, Inc.	51,100		510,209
	Relia, Inc.	244,300		1,629,807
	Restar Holdings Corp.	111,400		1,486,029
*	Ricksoft Co. Ltd.	2,000		31,626
#	Riken Keiki Co. Ltd.	88,700		2,386,840
	Riso Kagaku Corp.	68,700		1,111,914
#	River Eletec Corp.	35,300		261,807
	Roland DG Corp.	82,600		1,700,246
	Rorze Corp.	68,500		3,307,061
	RS Technologies Co. Ltd.	13,400		588,899
	Ryoden Corp.	94,800		1,023,011
	Ryosan Co. Ltd.	130,000		2,010,105
	Saison Information Systems Co. Ltd.	27,400		328,769
#	Sakura Internet, Inc.	131,700		481,684
	Sanken Electric Co. Ltd.	103,000		3,146,457
	Sanshin Electronics Co. Ltd.	75,000		866,899
	Santec Corp.	3,600		62,307
#	Satori Electric Co. Ltd.	75,680		643,483
#	Saxa Holdings, Inc.	30,600		263,099

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INFORMATION TECHNOLOGY — (Continued)
#	SB Technology Corp.	64,400	$	974,652
#	Scala, Inc.	102,100		472,638
	Seikoh Giken Co. Ltd.	23,900		262,323
#	SEMITEC Corp.	8,000		417,357
	SERAKU Co. Ltd.	24,700		167,297
#	Shibaura Electronics Co. Ltd.	45,000		1,353,320
	Shibaura Mechatronics Corp.	23,100		1,488,419
	Shindengen Electric Manufacturing Co. Ltd.	45,700		1,100,250
	Shinko Shoji Co. Ltd.	236,000		1,436,241
#	Shizuki Electric Co., Inc.	121,600		412,398
	Showa Shinku Co. Ltd.	24,400		240,000
#	Sigma Koki Co. Ltd.	28,900		292,164
	Siix Corp.	188,000		1,409,288
	SK-Electronics Co. Ltd.	49,000		408,703
# *	Smaregi, Inc.	6,500		52,752
	SMK Corp.	27,599		444,454
	Softcreate Holdings Corp.	48,200		1,025,149
#	Soliton Systems KK	54,100		380,529
	Solxyz Co. Ltd.	41,000		100,595
# *	Speee, Inc.	3,600		61,662
	SRA Holdings	70,400		1,450,531
	Sumida Corp.	158,549		1,108,693
# *	Sun*, Inc.	19,500		113,998
	Sun-Wa Technos Corp.	75,500		663,801
	Suzuden Corp.	800		11,308
	Suzuki Co. Ltd.	73,200		428,604
	System D, Inc.	1,100		10,411
#	System Information Co. Ltd.	57,600		360,816
	System Research Co. Ltd.	29,800		372,831
	System Support, Inc.	20,700		198,191
#	Systems Engineering Consultants Co. Ltd.	6,600		97,632
	Systena Corp.	1,558,000		4,348,686
	Tachibana Eletech Co. Ltd.	103,460		1,119,457
#	Takachiho Koheki Co. Ltd.	40,900		566,187
#	TAKEBISHI Corp.	52,200		523,672
#	Tamura Corp.	444,000		2,094,691
	Tazmo Co. Ltd.	3,500		31,404
#	TDC Soft, Inc.	93,400		800,274
	TechMatrix Corp.	244,300		2,824,165
	Techno Horizon Co. Ltd.	61,800		218,948
	Tecnos Japan, Inc.	46,100		139,494
#	Teikoku Tsushin Kogyo Co. Ltd.	51,500		507,324
	Terilogy Co. Ltd.	20,900		47,558
	TESEC Corp.	22,600		250,400
	TKC Corp.	185,800		4,402,952
	Tobila Systems, Inc.	1,600		10,073
	Toho System Science Co. Ltd.	2,700		18,223
#	Tokyo Electron Device Ltd.	44,400		1,625,488
	Tokyo Seimitsu Co. Ltd.	248,700		7,316,071
#	Tomen Devices Corp.	17,800		648,897
	Topcon Corp.	676,700		7,546,913
#	Torex Semiconductor Ltd.	52,900		914,854
	Toshiba TEC Corp.	107,200		2,770,068
	Toukei Computer Co. Ltd.	6,810		286,415
#	Towa Corp.	136,200		1,503,446
	Toyo Corp.	149,600		1,247,650
	Transcosmos, Inc.	115,700		3,004,470
#	Tri Chemical Laboratories, Inc.	154,500		1,892,956
#	Tsuzuki Denki Co. Ltd.	42,800		367,386

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INFORMATION TECHNOLOGY — (Continued)
	Ubicom Holdings, Inc.	30,800	$	462,600
	Uchida Yoko Co. Ltd.	46,900		1,422,456
	ULS Group, Inc.	13,300		308,731
	Ulvac, Inc.	218,700		7,727,960
#	UNITED, Inc.	24,200		233,609
	User Local, Inc.	9,200		103,145
#	V Technology Co. Ltd.	56,900		1,007,079
#	VINX Corp.	25,600		256,508
	Wacom Co. Ltd.	980,900		4,803,307
#	Wellnet Corp.	54,900		223,814
#	WILLs, Inc.	34,200		152,951
	WingArc1st, Inc.	1,400		17,711
#	YAC Holdings Co. Ltd.	59,500		496,444
	Yamaichi Electronics Co. Ltd.	146,000		1,800,539
#	Yashima Denki Co. Ltd.	119,500		785,359
	YE DIGITAL Corp.	14,400		39,533
	Yokowo Co. Ltd.	111,075		1,454,197

TOTAL INFORMATION TECHNOLOGY				380,069,304

MATERIALS — (12.0%)
	Achilles Corp.	80,500		723,672
	ADEKA Corp.	508,800		7,596,694
	Agro-Kanesho Co. Ltd.	2,300		20,757
#	Aica Kogyo Co. Ltd.	176,200		3,816,145
	Aichi Steel Corp.	65,365		931,768
	Arakawa Chemical Industries Ltd.	106,400		721,188
#	Araya Industrial Co. Ltd.	21,400		246,273
	Asahi Holdings, Inc.	472,200		6,632,054
	Asahi Printing Co. Ltd.	25,700		155,022
	ASAHI YUKIZAI Corp.	89,600		1,354,454
	Asahipen Corp.	2,100		24,666
	Asia Pile Holdings Corp.	210,800		701,859
#	C Uyemura & Co. Ltd.	71,500		2,995,729
	Carlit Holdings Co. Ltd.	128,900		583,220
#	Chuetsu Pulp & Paper Co. Ltd.	32,800		207,445
#	Chugoku Marine Paints Ltd.	323,800		1,989,971
	CI Takiron Corp.	284,700		1,029,240
#	CK-San-Etsu Co. Ltd.	22,800		612,795
	Dai Nippon Toryo Co. Ltd.	121,600		600,467
	Daicel Corp.	1,446,300		8,515,337
	Daido Steel Co. Ltd.	164,600		4,004,106
#	Daiichi Kigenso Kagaku-Kogyo Co. Ltd.	125,200		1,053,590
	Daiken Corp.	62,200		784,798
	Daiki Aluminium Industry Co. Ltd.	177,300		1,436,790
	Dainichiseika Color & Chemicals Manufacturing Co. Ltd.	76,800		902,095
#	Daio Paper Corp.	315,700		2,532,374
	Daito Chemix Corp.	27,200		102,738
	DIC Corp.	341,600		5,704,289
	DKS Co. Ltd.	47,000		621,484
	Dynapac Co. Ltd.	8,500		73,943
	FP Corp.	87,200		2,139,163
	Fuji Seal International, Inc.	241,828		2,560,931
	Fujikura Kasei Co. Ltd.	162,600		461,532
	Fujimi, Inc.	76,800		3,205,872
	Fujimori Kogyo Co. Ltd.	104,000		2,315,754
	Fuso Chemical Co. Ltd.	117,200		2,520,236
	Geostr Corp.	57,100		113,462
	Godo Steel Ltd.	59,700		695,200
#	Gun-Ei Chemical Industry Co. Ltd.	31,000		497,960

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
MATERIALS — (Continued)
#	Hakudo Co. Ltd.	41,600	$	662,959
#	Harima Chemicals Group, Inc.	93,100		550,297
#	Hodogaya Chemical Co. Ltd.	43,000		861,732
#	Hokkan Holdings Ltd.	58,100		507,400
	Hokko Chemical Industry Co. Ltd.	115,300		720,694
#	Hokuetsu Corp.	775,199		4,038,516
	Ise Chemicals Corp.	13,000		395,127
#	Ishihara Chemical Co. Ltd.	72,000		618,374
	Ishihara Sangyo Kaisha Ltd.	218,650		1,544,444
	Ishizuka Glass Co. Ltd.	12,900		133,880
	Japan Pure Chemical Co. Ltd.	500		7,994
	JCU Corp.	132,700		2,692,052
	JSP Corp.	79,400		764,001
	Kaneka Corp.	180,600		4,510,381
	Kanto Denka Kogyo Co. Ltd.	281,200		1,794,757
#	Katakura & Co-op Agri Corp.	21,500		172,066
	KeePer Technical Laboratory Co. Ltd.	91,700		2,364,030
	KEIWA, Inc.	25,600		612,234
#	KH Neochem Co. Ltd.	227,300		4,158,189
#	Kimoto Co. Ltd.	181,500		286,309
	Koatsu Gas Kogyo Co. Ltd.	185,393		799,329
#	Kobe Steel Ltd.	1,338,485		5,366,568
#	Kohsoku Corp.	70,200		747,943
	Konishi Co. Ltd.	208,800		2,244,664
	Konoshima Chemical Co. Ltd.	37,500		302,493
	Krosaki Harima Corp.	30,100		963,157
	Kumiai Chemical Industry Co. Ltd.	318,187		2,244,360
#	Kunimine Industries Co. Ltd.	41,700		230,159
	Kureha Corp.	103,950		6,373,982
	Kurimoto Ltd.	60,500		671,513
	Kuriyama Holdings Corp.	78,000		488,765
	Kyoei Steel Ltd.	141,500		1,353,431
#	Kyowa Leather Cloth Co. Ltd.	78,800		277,438
	Lintec Corp.	265,900		4,087,022
	Maeda Kosen Co. Ltd.	118,600		2,585,866
	Maruichi Steel Tube Ltd.	204,800		4,193,820
	MEC Co. Ltd.	97,900		1,504,649
#	Mipox Corp.	19,600		72,956
#	Mitani Sekisan Co. Ltd.	66,000		1,580,085
#	Mitsubishi Materials Corp.	340,900		4,683,615
# *	Mitsubishi Paper Mills Ltd.	246,400		482,869
#	Mitsubishi Steel Manufacturing Co. Ltd.	60,400		378,155
	Mitsui Mining & Smelting Co. Ltd.	366,200		7,683,250
#	Molitec Steel Co. Ltd.	69,000		167,887
	MORESCO Corp.	39,800		297,180
	Moriroku Holdings Co. Ltd.	13,500		157,078
#	Mory Industries, Inc.	33,200		601,090
#	Nakayama Steel Works Ltd.	169,700		659,785
#	Nasu Denki Tekko Co. Ltd.	3,000		145,924
	Neturen Co. Ltd.	217,300		963,434
#	New Japan Chemical Co. Ltd.	111,300		192,684
#	Nicca Chemical Co. Ltd.	45,700		266,774
#	Nichia Steel Works Ltd.	117,300		186,900
	Nihon Kagaku Sangyo Co. Ltd.	81,300		577,013
#	Nihon Nohyaku Co. Ltd.	243,500		1,421,998
	Nihon Parkerizing Co. Ltd.	521,900		3,362,792
# *	Nihon Yamamura Glass Co. Ltd.	58,200		229,487
#	Nippon Carbide Industries Co., Inc.	46,200		396,160
#	Nippon Chemical Industrial Co. Ltd.	46,300		599,101

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
MATERIALS — (Continued)
	Nippon Concrete Industries Co. Ltd.	293,100	$	496,929
	Nippon Denko Co. Ltd.	687,014		1,584,957
#	Nippon Fine Chemical Co. Ltd.	82,800		1,083,896
	Nippon Kayaku Co. Ltd.	581,500		4,655,867
#	Nippon Light Metal Holdings Co. Ltd.	369,390		3,696,267
	Nippon Paper Industries Co. Ltd.	560,900		3,646,404
	Nippon Pillar Packing Co. Ltd.	118,500		1,870,851
	Nippon Shokubai Co. Ltd.	98,600		3,683,280
	Nippon Soda Co. Ltd.	147,700		4,494,527
#	Nippon Yakin Kogyo Co. Ltd.	89,049		1,606,650
#	Nitta Gelatin, Inc.	85,500		531,358
	Nittetsu Mining Co. Ltd.	70,600		1,344,556
	Nozawa Corp.	47,500		229,717
	Oat Agrio Co. Ltd.	49,200		603,037
	Okamoto Industries, Inc.	70,500		1,731,675
	Okura Industrial Co. Ltd.	54,600		675,293
	Osaka Organic Chemical Industry Ltd.	101,200		1,420,606
	Osaka Soda Co. Ltd.	85,499		2,248,411
#	Osaka Steel Co. Ltd.	89,300		700,343
	Pacific Metals Co. Ltd.	92,999		1,399,378
	Pack Corp.	87,200		1,335,912
	Rasa Industries Ltd.	44,400		684,865
	Rengo Co. Ltd.	980,600		5,709,954
	Riken Technos Corp.	231,800		806,216
	Sakai Chemical Industry Co. Ltd.	86,300		1,117,601
	Sakata INX Corp.	263,400		1,780,977
	Sanyo Chemical Industries Ltd.	85,200		2,579,617
#	Sanyo Special Steel Co. Ltd.	127,360		1,645,148
	Seiko PMC Corp.	72,600		263,524
	Sekisui Kasei Co. Ltd.	150,000		412,725
	Shikoku Chemicals Corp.	226,800		1,922,732
	Shinagawa Refractories Co. Ltd.	35,900		931,014
	Shin-Etsu Polymer Co. Ltd.	283,900		2,351,578
	SK Kaken Co. Ltd.	1,300		347,818
	Soken Chemical & Engineering Co. Ltd.	48,400		618,586
	Stella Chemifa Corp.	64,600		1,123,127
	Sumitomo Bakelite Co. Ltd.	194,100		5,317,240
#	Sumitomo Osaka Cement Co. Ltd.	212,499		4,802,961
	Sumitomo Seika Chemicals Co. Ltd.	56,400		1,165,633
#	T Hasegawa Co. Ltd.	172,200		3,565,636
#	T&K Toka Co. Ltd.	128,100		780,632
	Taiheiyo Cement Corp.	391,900		5,534,176
	Taisei Lamick Co. Ltd.	36,900		698,394
	Taiyo Holdings Co. Ltd.	229,200		3,802,873
	Takasago International Corp.	83,900		1,540,090
	Takemoto Yohki Co. Ltd.	43,800		227,885
# *	Tanaka Chemical Corp.	13,400		136,259
#	Taoka Chemical Co. Ltd.	23,500		134,032
	Tayca Corp.	97,400		828,960
	Teijin Ltd.	109,300		1,059,909
	Tenma Corp.	111,300		1,469,031
#	Titan Kogyo Ltd.	5,100		55,727
	Toagosei Co. Ltd.	700,600		5,230,375
# *	Toda Kogyo Corp.	4,300		77,789
#	Toho Acetylene Co. Ltd.	12,700		94,422
	Toho Chemical Industry Co. Ltd.	47,000		156,494
#	Toho Titanium Co. Ltd.	215,600		3,525,779
	Toho Zinc Co. Ltd.	88,099		1,319,616
	Tohoku Steel Co. Ltd.	16,300		177,404

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
MATERIALS — (Continued)
	Tokai Carbon Co. Ltd.	948,800	$	6,429,764
#	Tokushu Tokai Paper Co. Ltd.	59,158		1,207,277
#	Tokuyama Corp.	380,397		4,582,214
	Tokyo Ohka Kogyo Co. Ltd.	4,200		175,247
	Tokyo Printing Ink Manufacturing Co. Ltd.	10,200		162,646
#	Tokyo Rope Manufacturing Co. Ltd.	46,000		271,240
	Tokyo Steel Manufacturing Co. Ltd.	569,500		4,985,505
	Tokyo Tekko Co. Ltd.	61,900		558,127
	Tomoku Co. Ltd.	70,600		694,248
	Topy Industries Ltd.	94,400		945,344
#	Toyo Gosei Co. Ltd.	31,100		1,361,236
	Toyo Ink SC Holdings Co. Ltd.	233,400		3,068,557
	Toyobo Co. Ltd.	511,000		3,665,363
#	TYK Corp.	148,500		264,627
	UACJ Corp.	208,841		2,880,933
	UBE Corp.	568,600		7,594,504
	Ultrafabrics Holdings Co. Ltd.	2,600		78,312
	Valqua Ltd.	107,799		1,866,017
	Vertex Corp.	126,294		1,155,190
	Wavelock Holdings Co. Ltd.	30,900		125,468
#	Wood One Co. Ltd.	37,197		266,831
	Yamato Kogyo Co. Ltd.	104,100		3,154,172
	Yodogawa Steel Works Ltd.	138,500		2,273,888
#	Yotai Refractories Co. Ltd.	115,400		1,114,687
#	Yushiro Chemical Industry Co. Ltd.	60,500		345,361

TOTAL MATERIALS				310,385,356

REAL ESTATE — (1.5%)
#	AD Works Group Co. Ltd.	47,879		50,328
#	Airport Facilities Co. Ltd.	143,970		516,851
	Anabuki Kosan, Inc.	16,400		227,290
	Aoyama Zaisan Networks Co. Ltd.	92,000		595,320
	Apaman Co. Ltd.	75,900		243,551
	Ardepro Co. Ltd.	7,070		19,879
	Arealink Co. Ltd.	31,173		378,202
#	B-Lot Co. Ltd.	25,800		95,677
	Cosmos Initia Co. Ltd.	93,700		324,070
	CRE, Inc.	31,500		318,456
#	Dear Life Co. Ltd.	152,600		584,235
	Goldcrest Co. Ltd.	102,470		1,177,312
	Good Com Asset Co. Ltd.	46,500		486,894
	Grandy House Corp.	95,600		357,875
	Heiwa Real Estate Co. Ltd.	142,300		3,897,747
	Ichigo, Inc.	133,800		275,308
#	Japan Property Management Center Co. Ltd.	86,300		601,092
	JINUSHI Co. Ltd.	77,900		1,069,775
#	JSB Co. Ltd.	24,700		640,195
#	Katitas Co. Ltd.	173,700		3,867,296
	Keihanshin Building Co. Ltd.	200,200		1,687,814
	LA Holdings Co. Ltd.	3,900		77,806
*	Leopalace21 Corp.	526,000		1,206,288
#	Loadstar Capital KK	9,200		99,776
#	Mirainovate Co. Ltd.	133,040		159,487
	Mugen Estate Co. Ltd.	64,200		202,303
	Nisshin Group Holdings Co. Ltd.	205,500		608,993
#	Property Agent, Inc.	9,200		83,515
#	Raysum Co. Ltd.	90,800		1,014,608
	SAMTY Co. Ltd.	183,150		2,850,487
	Sankyo Frontier Co. Ltd.	24,600		622,590

THE JAPANESE SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
REAL ESTATE — (Continued)
	Sansei Landic Co. Ltd.	29,100	$	165,367
	Shinoken Group Co. Ltd.	112,600		1,240,939
# *	SRE Holdings Corp.	11,500		249,434
	Star Mica Holdings Co. Ltd.	85,900		929,760
	Starts Corp., Inc.	211,600		3,833,241
#	Sun Frontier Fudousan Co. Ltd.	187,900		1,450,477
	Sunnexta Group, Inc.	11,100		70,142
	Takara Leben Co. Ltd.	547,800		1,454,748
	Tenpo Innovation Co. Ltd.	3,100		19,287
#	TOC Co. Ltd.	296,050		1,446,018
	Tokyo Rakutenchi Co. Ltd.	19,800		538,450
#	Tokyo Theatres Co., Inc.	47,099		378,377
	Tosei Corp.	187,900		1,799,547
	Urbanet Corp. Co. Ltd.	92,700		192,075

TOTAL REAL ESTATE				38,108,882

UTILITIES — (1.6%)
#	EF-ON, Inc.	88,520		391,087
	eRex Co. Ltd.	185,100		3,545,477
#	Hiroshima Gas Co. Ltd.	322,200		733,426
#	Hokkaido Electric Power Co., Inc.	1,146,900		3,594,375
	Hokkaido Gas Co. Ltd.	92,600		1,014,620
#	Hokuriku Electric Power Co.	1,060,000		3,561,132
#	Hokuriku Gas Co. Ltd.	10,100		207,174
	K&O Energy Group, Inc.	93,000		1,043,211
	Nippon Gas Co. Ltd.	684,000		9,741,851
#	Okinawa Electric Power Co., Inc.	284,216		2,075,802
*	RENOVA, Inc.	136,600		3,199,714
	Saibu Gas Holdings Co. Ltd.	215,600		2,582,658
	Shikoku Electric Power Co., Inc.	749,500		3,745,650
	Shizuoka Gas Co. Ltd.	319,000		2,180,601
#	Toell Co. Ltd.	57,500		295,986
#	West Holdings Corp.	134,903		3,855,410

TOTAL UTILITIES				41,768,174

TOTAL COMMON STOCKS Cost ($2,870,599,913)				2,506,193,002


			Value†
SECURITIES LENDING COLLATERAL — (3.0%)
@ §	The DFA Short Term Investment Fund	6,593,941		76,278,705

TOTAL INVESTMENTS — (100.0%) (Cost $2,946,867,419)^^			$	2,582,471,707

ST	Special Tax

»	Securities have generally been fair valued. See Security Valuation Note within the Notes to Schedules of Investments.

#	Total or Partial Securities on Loan.

*	Non-Income Producing Securities.

†	See Security Valuation Note within the Notes to Schedules of Investments.

@	Security purchased with cash collateral received from Securities on Loan.

§	Affiliated Fund.

^^	See Federal Tax Cost Note within the Notes to Schedules of Investments.

THE JAPANESE SMALL COMPANY SERIES

CONTINUED

Summary of the Series’ investments as of September 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Communication Services		—	$	60,782,726		—	$	60,782,726
Consumer Discretionary		—		376,080,215		—		376,080,215
Consumer Staples		—		204,170,348		—		204,170,348
Energy		—		18,439,448		—		18,439,448
Financials		—		227,970,963		—		227,970,963
Health Care		—		125,860,844		—		125,860,844
Industrials		—		722,556,742		—		722,556,742
Information Technology		—		380,069,304		—		380,069,304
Materials		—		310,385,356		—		310,385,356
Real Estate		—		38,108,882		—		38,108,882
Utilities		—		41,768,174		—		41,768,174
Securities Lending Collateral		—		76,278,705		—		76,278,705

TOTAL		—	$	2,582,471,707		—	$	2,582,471,707

THE ASIA PACIFIC SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

September 30, 2022

(Unaudited)


		Shares		Value»
COMMON STOCKS — (98.3%)
AUSTRALIA — (61.8%)
	29Metals Ltd.		46,048	$	66,489
*	3P Learning Ltd.		93,233		83,700
*	4DMedical Ltd.		44,717		16,484
*	A2B Australia Ltd.		511,111		381,042
	Accent Group Ltd.		2,684,944		2,196,648
* ††	ACN Ltd.		1,687		1
	Acrow Formwork & Construction Services Ltd.		271,826		85,618
*	Actinogen Medical Ltd.		729,727		40,980
#	Adairs Ltd.		1,192,185		1,380,710
	Adbri Ltd.		2,336,356		2,755,328
# *	Advance Zinctek Ltd.		9,653		13,196
# *	Aeris Resources Ltd.		148,241		39,124
*	Ainsworth Game Technology Ltd.		557,129		308,377
# *	Alcidion Group Ltd.		643,486		52,752
*	Alkane Resources Ltd.		2,927,588		1,272,981
# *	Alliance Aviation Services Ltd.		423,816		839,798
# *	Alligator Energy Ltd.		8,107,416		284,846
*	Altech Chemicals Ltd.		174,277		10,372
# *	AMA Group Ltd.		6,256,289		905,763
*	AMP Ltd.		13,200,097		9,252,703
*	Andromeda Metals Ltd.		1,579,203		44,172
#	Ansell Ltd.		659,316		10,608,628
# *	Antipa Minerals Ltd.		2,985,349		48,671
	Antipa Minerals Ltd.		282,735		4,702
#	Appen Ltd.		755,130		1,492,075
# *	Arafura Resources Ltd.		10,931,149		2,280,679
#	ARB Corp. Ltd.		509,352		9,049,596
# *	Archer Materials Ltd.		514,440		255,946
*	Ardea Resources Ltd.		132,809		75,018
#	Ardent Leisure Group Ltd.		3,520,449		1,166,182
# *	Argosy Minerals Ltd.		1,030,094		329,194
*	Aroa Biosurgery Ltd.		89,237		43,248
	AUB Group Ltd.		762,060		9,281,282
# *	Audinate Group Ltd.		143,037		660,948
# *	Aura Energy Ltd.		259,286		51,059
# *	Aurelia Metals Ltd.		8,352,759		1,062,616
*	Ausgold Ltd.		420,326		11,245
# *	Aussie Broadband Ltd.		795,745		1,153,654
	Austal Ltd.		2,416,185		3,523,236
	Austin Engineering Ltd.		548,794		115,353
*	Australian Agricultural Co. Ltd.		2,850,244		3,128,808
	Australian Clinical Labs Ltd.		193,098		436,489
	Australian Ethical Investment Ltd.		301,621		961,450
	Australian Finance Group Ltd.		1,847,836		1,898,230
# *	Australian Strategic Materials Ltd.		565,588		842,372
# *	Australian Vanadium Ltd.		13,984,327		301,977
#	Australian Vintage Ltd.		2,809,339		1,095,753
*	Australis Oil & Gas Ltd.		643,590		14,951
#	Auswide Bank Ltd.		166,720		554,093
*	Auteco Minerals Ltd.		247,992		6,707
#	AVJennings Ltd.		5,407,981		1,456,188
# *	AVZ Minerals Ltd.		263,719		110,604

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
AUSTRALIA — (Continued)
*	Azure Minerals Ltd.		24,167	$	2,647
#	Baby Bunting Group Ltd.		813,374		1,962,252
# *	Bannerman Energy Ltd.		95,393		122,391
	Bapcor Ltd.		2,227,045		8,694,075
	Base Resources Ltd.		1,712,813		311,088
*	BCI Minerals Ltd.		2,716,101		393,281
	Beach Energy Ltd.		9,197,272		8,832,394
	Beacon Lighting Group Ltd.		447,480		550,226
	Beacon Minerals Ltd.		2,446,902		38,742
	Bega Cheese Ltd.		1,973,378		4,365,602
#	Bell Financial Group Ltd.		734,391		475,701
# *	Bellevue Gold Ltd.		6,927,489		3,292,575
*	Berkeley Energia Ltd.		37,692		6,539
# *	Betmakers Technology Group Ltd.		2,208,905		441,753
	Bgv1nyp		512,124		31,775
# *	Bigtincan Holdings Ltd.		1,280,517		438,142
*	Bionomics Ltd.		160,677		5,336
# *	Black Rock Mining Ltd.		2,860,513		273,903
	Blackmores Ltd.		101,297		4,084,997
*	Blackstone Minerals Ltd.		110,079		12,271
#	Boral Ltd.		1,411,795		2,406,497
*	Boss Energy Ltd.		298,324		498,877
*	Botanix Pharmaceuticals Ltd.		688,967		27,516
# *	Bowen Coking Coal Ltd.		383,135		86,365
#	Bravura Solutions Ltd.		1,665,994		1,307,387
#	Breville Group Ltd.		652,020		7,522,860
	Brickworks Ltd.		469,394		6,464,396
# *	Bubs Australia Ltd.		968,640		308,259
*	Buru Energy Ltd.		713,223		47,672
#	BWX Ltd.		1,255,210		505,824
*	Byron Energy Ltd.		275,427		22,795
*	Calidus Resources Ltd.		1,265,624		441,454
*	Calima Energy Ltd.		1,950,890		137,931
# *	Calix Ltd.		364,636		1,345,481
	Capitol Health Ltd.		5,725,035		1,150,643
	Capral Ltd.		57,850		266,395
*	Capricorn Metals Ltd.		2,026,381		3,879,526
*	Carbon Revolution Ltd.		173,560		22,824
# *	Carnarvon Energy Ltd.		7,925,626		784,403
#	Cash Converters International Ltd.		2,819,818		414,206
# *	Catapult Group International Ltd.		510,098		269,725
††	CDS Technologies Ltd.		13,276		0
	Cedar Woods Properties Ltd.		454,649		1,161,823
*	Central Petroleum Ltd.		759,474		41,587
††	Centrebet International Ltd.		162,672		0
*	Chalice Mining Ltd.		1,281,375		3,204,943
*	Challenger Exploration Ltd.		103,805		10,215
	Challenger Ltd.		927,627		3,474,972
	Champion Iron Ltd.		1,940,027		6,029,100
# *	City Chic Collective Ltd.		1,254,668		1,043,282
*	Clean Seas Seafood Ltd.		247,494		90,025
	ClearView Wealth Ltd.		156,351		57,788
#	Clinuvel Pharmaceuticals Ltd.		254,660		3,020,670
#	Clover Corp. Ltd.		757,373		607,542
# *	Cobalt Blue Holdings Ltd.		650,479		293,722
	Codan Ltd.		663,689		2,400,881

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
AUSTRALIA — (Continued)
	COG Financial Services Ltd.		10,563	$	10,798
# *	Cogstate Ltd.		261,421		359,687
*	Collection House Ltd.		428,104		0
	Collins Foods Ltd.		803,502		4,464,876
*	Comet Ridge Ltd.		1,055,453		111,049
*	Cooper Energy Ltd.		18,980,627		3,115,503
# *	Core Lithium Ltd.		756,237		534,518
#	Corporate Travel Management Ltd.		706,149		7,545,835
	Costa Group Holdings Ltd.		2,781,429		4,000,276
#	Credit Corp. Group Ltd.		455,264		5,015,891
*	Creso Pharma Ltd.		39,292		774
	CSR Ltd.		3,109,441		8,861,040
*	Cynata Therapeutics Ltd.		111,132		22,132
# *	Dacian Gold Ltd.		1,423,438		81,366
*	Danakali Ltd.		693,690		115,367
	Data#3 Ltd.		1,162,707		4,622,240
# *	De Grey Mining Ltd.		6,719,690		4,439,941
# *	Deep Yellow Ltd.		2,018,775		1,028,598
	Deterra Royalties Ltd.		2,373,146		6,098,884
	Dicker Data Ltd.		424,676		2,776,364
	Domain Holdings Australia Ltd.		1,676,821		3,450,981
	Downer EDI Ltd.		3,114,741		9,110,629
# *	Dreadnought Resources Ltd.		7,262,887		445,779
#	Eagers Automotive Ltd.		941,185		6,612,287
	Earlypay Ltd.		954,863		267,978
*	Eclipx Group Ltd.		2,460,384		3,489,903
*	Ecofibre Ltd.		37,420		5,488
# *	Ecograf Ltd.		1,581,731		320,514
	Elanor Investor Group		444,530		477,665
	Elders Ltd.		1,009,369		7,702,572
# *	Electro Optic Systems Holdings Ltd.		224,826		75,590
*	Elementos Ltd.		135,772		25,014
# *	Elevate Uranium Ltd.		172,343		51,985
# *	Elixir Energy Ltd.		2,250,692		231,867
# *	Elmo Software Ltd.		107,791		153,254
#	Emeco Holdings Ltd.		2,400,372		1,276,167
# *	Emerald Resources NL		448,151		309,015
# *	EML Payments Ltd.		1,986,286		1,002,654
	Enero Group Ltd.		280,272		519,026
# *	EnviroSuite Ltd.		1,131,191		86,433
	EQT Holdings Ltd.		168,852		2,670,464
	Estia Health Ltd.		1,635,384		2,063,565
	Eureka Group Holdings Ltd.		28,507		10,136
# *	European Lithium Ltd.		3,882,196		187,930
	Euroz Hartleys Group Ltd.		357,406		296,345
*	EVENT Hospitality & Entertainment Ltd.		630,834		5,260,264
*	Experience Co. Ltd.		102,579		13,077
#	Fenix Resources Ltd.		735,489		114,876
	Finbar Group Ltd.		337,695		141,754
# *	Firefinch Ltd.		1,569,275		150,568
	Fleetwood Ltd.		654,067		609,263
# *	Flight Centre Travel Group Ltd.		698,758		6,326,389
*	Fluence Corp. Ltd.		116,395		14,892
# *	Frontier Digital Ventures Ltd.		1,022,562		414,666
# *	FYI Resources Ltd.		452,463		41,607
	G8 Education Ltd.		5,687,070		3,490,577

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
AUSTRALIA — (Continued)
# *	Galan Lithium Ltd.		1,898,925	$	1,443,221
*	Gascoyne Resources Ltd.		160,800		26,452
# *	Genetic Signatures Ltd.		171,373		96,480
# *	Genex Power Ltd.		1,098,842		150,405
	Genworth Mortgage Insurance Australia Ltd.		2,681,235		4,671,029
	Gold Road Resources Ltd.		7,547,997		6,140,724
	GR Engineering Services Ltd.		274,342		368,034
	GrainCorp Ltd., Class A		1,517,016		7,631,086
#	Grange Resources Ltd.		3,909,204		1,751,836
# *	Greenland Minerals Ltd.		1,881,748		59,821
	GTN Ltd.		15,394		4,287
	GUD Holdings Ltd.		1,090,319		5,172,733
	GWA Group Ltd.		1,523,752		1,858,404
	Hansen Technologies Ltd.		1,275,251		3,613,046
*	Hastings Technology Metals Ltd.		47,457		104,739
	Healius Ltd.		3,615,657		7,777,795
	Healthia Ltd.		131,677		122,911
*	Helios Energy Ltd.		817,342		43,343
#	Helloworld Travel Ltd.		51,370		61,807
*	Highfield Resources Ltd.		512,345		251,408
*	Hillgrove Resources Ltd.		391,399		10,085
*	Hipages Group Holdings Ltd.		10,335		8,927
*	Horizon Oil Ltd.		1,778,410		168,145
	Hot Chili Ltd.		169,686		98,771
	HT&E Ltd.		1,709,119		1,317,931
#	HUB24 Ltd.		461,678		6,165,929
#	Humm Group Ltd.		2,394,040		685,667
	Iluka Resources Ltd.		949,347		5,496,153
	Image Resources NL		946,902		78,051
	Imdex Ltd.		2,704,064		3,067,151
# *	Immutep Ltd.		1,539,907		239,273
*	Immutep Ltd., Sponsored ADR		4,516		7,045
# *	ImpediMed Ltd.		417,437		16,673
	Infomedia Ltd.		3,087,927		2,314,054
#	Inghams Group Ltd.		3,281,221		4,994,362
	Insignia Financial Ltd.		3,939,870		7,447,846
	Integral Diagnostics Ltd.		1,567,781		2,777,219
# *	Integrated Research Ltd.		566,516		140,341
*	Investigator Resources Ltd.		686,170		18,493
# *	Invictus Energy Ltd.		160,419		18,871
#	InvoCare Ltd.		921,115		5,961,520
# *	ioneer Ltd.		10,310,733		4,145,345
	IPH Ltd.		1,331,405		8,101,322
	IRESS Ltd.		1,215,703		6,933,177
	IVE Group Ltd.		628,751		899,862
# *	Jervois Global Ltd.		291,514		95,744
	Johns Lyng Group Ltd.		1,066,692		4,283,065
	Jumbo Interactive Ltd.		208,843		1,592,694
#	Jupiter Mines Ltd.		5,672,731		698,328
*	Karoon Energy Ltd.		4,257,466		4,987,008
	Kelly Partners Group Holdings Ltd.		3,572		11,396
	Kelsian Group Ltd.		598,234		1,854,898
*	KGL Resources Ltd.		310,205		56,630
*	Kingsgate Consolidated Ltd.		355,002		357,261
*	Koba Resources Ltd.		34,188		2,756
# *	Kogan.com Ltd.		468,030		901,551

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
AUSTRALIA — (Continued)
# *	Lake Resources NL		2,607,188	$	1,471,293
# *	Lark Distilling Co. Ltd.		65,368		88,435
††	Lednium Technology Pty. Ltd.		195,019		0
# *	Legend Mining Ltd.		2,176,273		53,879
*	Leo Lithium Ltd.		1,120,910		392,039
# *	Lepidico Ltd.		2,895,993		40,433
	Lifestyle Communities Ltd.		575,377		5,574,081
	Link Administration Holdings Ltd.		2,206,818		4,019,698
*	Lithium Australia Ltd.		423,984		15,146
# *	Lithium Power International Ltd.		304,819		103,177
	Lithium Power International Ltd.		36,643		12,657
	Lovisa Holdings Ltd.		342,220		4,631,189
*	Lucapa Diamond Co. Ltd.		2,713,021		99,910
	Lycopodium Ltd.		64,242		280,537
	MA Financial Group Ltd.		416,136		1,022,438
#	Maas Group Holdings Ltd.		79,536		160,260
	MACA Ltd.		2,234,593		1,541,908
# *	Mach7 Technologies Ltd.		42,643		14,580
	Macmahon Holdings Ltd.		5,829,463		555,284
*	Macquarie Telecom Group Ltd.		21,478		816,832
	Mader Group Ltd.		59,629		111,756
#	Magellan Financial Group Ltd.		183,489		1,309,043
*	Maggie Beer Holdings Ltd.		243,446		46,215
# *	Magnetite Mines Ltd.		2,125,737		34,185
	Magnetite Mines Ltd.		10,628,685		0
††	Mallee Resources Ltd.		49,486		13,294
	MaxiPARTS Ltd.		87,262		120,357
# *	Mayne Pharma Group Ltd.		9,684,322		1,696,701
	McMillan Shakespeare Ltd.		540,444		4,448,019
	McPherson’s Ltd.		653,702		323,510
# *	Medical Developments International Ltd.		167,262		179,951
	Medical Developments International Ltd.		14,544		15,629
# *	Megaport Ltd.		442,031		2,162,823
*	Mesoblast Ltd.		2,382,780		1,175,518
# *	Metals X Ltd.		4,781,629		806,713
	Metcash Ltd.		3,274,510		8,135,877
#	Michael Hill International Ltd.		1,522,713		1,119,658
*	Micro-X Ltd.		261,656		27,598
*	Mincor Resources NL		2,114,630		2,472,778
*	MMA Offshore Ltd.		1,648,627		726,062
	Monadelphous Group Ltd.		696,927		5,783,514
	Monash IVF Group Ltd.		2,151,885		1,240,614
	Money3 Corp. Ltd.		1,348,356		1,558,831
*	MoneyMe Ltd.		73,889		16,925
* ††	Morning Star Gold NL		332,749		0
	MotorCycle Holdings Ltd.		109,445		174,225
# *	Mount Gibson Iron Ltd.		4,569,374		1,192,982
	Myer Holdings Ltd.		5,293,540		1,972,261
	MyState Ltd.		744,487		1,814,240
# *	Nanosonics Ltd.		1,618,777		3,569,986
	National Tyre & Wheel Ltd.		97,940		45,179
# *	Navarre Minerals Ltd.		1,777,444		50,803
	Navigator Global Investments Ltd.		1,109,167		796,420
*	Nearmap Ltd.		3,659,647		4,675,527
# *	Neometals Ltd.		1,542,276		1,107,177
	Netwealth Group Ltd.		741,359		5,739,383

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
AUSTRALIA — (Continued)
*	Neurizer Ltd.		522,952	$	45,500
# *	New Century Resources Ltd.		163,453		110,953
	New Energy Solar		35,136		21,441
#	New Hope Corp. Ltd.		2,727,014		11,015,762
*	New World Resources Ltd.		3,157,128		66,103
	nib holdings Ltd.		2,870,292		13,795,616
#	Nick Scali Ltd.		463,216		2,734,480
#	Nickel Industries Ltd.		5,750,030		2,902,933
	Nine Entertainment Co. Holdings Ltd.		973,314		1,167,385
# *	Nitro Software Ltd.		166,147		169,018
# *	Norwest Energy NL		1,011,292		29,147
# *	Nova Minerals Ltd.		108,288		43,954
*	Novonix Ltd.		505,440		560,945
# *	Noxopharm Ltd.		180,445		20,678
	NRW Holdings Ltd.		3,407,843		5,190,248
	Nufarm Ltd.		2,019,407		6,471,363
	Objective Corp. Ltd.		88,201		738,190
*	OFX Group Ltd.		2,016,311		3,246,461
#	OM Holdings Ltd.		676,887		265,110
# *	Omni Bridgeway Ltd.		2,355,720		5,628,510
	oOh!media Ltd.		3,377,627		2,639,371
# *	Opthea Ltd.		1,338,240		1,004,710
*	Ora Banda Mining Ltd.		734,777		28,168
*	OreCorp Ltd.		192,088		44,431
	Orora Ltd.		5,992,474		11,552,557
	Pacific Current Group Ltd.		333,540		1,558,404
# *	Pacific Smiles Group Ltd.		272,678		259,481
	Pact Group Holdings Ltd.		1,337,110		1,152,012
# *	Paladin Energy Ltd.		16,033,988		7,562,939
*	Panoramic Resources Ltd.		10,364,998		1,273,631
*	Pantoro Ltd.		4,603,506		477,437
# *	Paradigm Biopharmaceuticals Ltd.		47,760		38,493
	Paragon Care Ltd.		335,469		70,481
	Peak Resources Ltd.		22,422		6,239
	Peet Ltd.		1,364,417		934,713
#	Pendal Group Ltd.		2,058,779		5,926,923
# *	Peninsula Energy Ltd.		3,332,209		343,837
	PeopleIN Ltd.		464,037		911,840
	Pepper Money Ltd.		217,431		192,769
	Perenti Global Ltd.		5,379,892		3,165,156
#	Perpetual Ltd.		376,124		5,684,336
	Perseus Mining Ltd.		8,114,950		7,894,495
*	PEXA Group Ltd.		6,091		52,358
#	Pinnacle Investment Management Group Ltd.		728,704		3,863,914
	Platinum Asset Management Ltd.		2,438,339		2,653,574
*	Podium Minerals Ltd.		245,537		20,347
# *	PointsBet Holdings Ltd.		340,283		400,481
# *	PolyNovo Ltd.		1,017,732		837,300
*	Poseidon Nickel Ltd.		12,683,800		364,177
# *	PPK Group Ltd.		22,761		21,045
	PPK Mining Equipment Group Pty Ltd.		22,761		0
#	Praemium Ltd.		2,977,411		1,268,832
# *	Predictive Discovery Ltd.		1,997,557		237,599
	Premier Investments Ltd.		410,666		5,916,092
# *	Prescient Therapeutics Ltd.		430,367		48,720
#	Probiotec Ltd.		78,596		110,273

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
AUSTRALIA — (Continued)
	Propel Funeral Partners Ltd.		176,560	$	530,778
*	Prophecy International Holdings Ltd.		24,007		12,566
# *	Province Resources Ltd.		889,179		45,375
	PSC Insurance Group Ltd.		254,780		779,698
*	PTB Group Ltd.		96,597		97,492
#	PWR Holdings Ltd.		592,023		3,205,103
# *	PYC Therapeutics Ltd.		389,981		17,265
	QANTM Intellectual Property Ltd.		112,211		70,416
	Ramelius Resources Ltd.		5,686,438		2,591,754
*	ReadyTech Holdings Ltd.		260,516		474,660
	Reckon Ltd.		391,834		281,006
*	Red 5 Ltd.		16,129,715		1,960,301
# *	Red Dirt Metals Ltd.		39,345		16,290
*	Red River Resources Ltd.		480,964		24,420
# *	Redbubble Ltd.		1,256,028		502,169
	Regal Partners Ltd.		9,488		15,456
#	Regis Healthcare Ltd.		1,048,714		1,147,842
#	Regis Resources Ltd.		4,621,940		4,605,845
# *	Reject Shop Ltd.		182,840		482,904
	Reliance Worldwide Corp. Ltd.		4,119,649		8,963,678
# *	Renascor Resources Ltd.		727,091		84,848
#	Resimac Group Ltd.		124,613		77,933
# *	Resolute Mining Ltd.		7,380,066		989,752
*	Retail Food Group Ltd.		12,168,489		412,382
*	Rex Minerals Ltd.		142,808		19,186
	Ridley Corp. Ltd.		1,958,399		2,558,830
*	RPMGlobal Holdings Ltd.		1,103,233		1,072,762
# *	Rumble Resources Ltd.		178,014		28,232
* ††	Salmat Ltd.		667,137		0
	Sandfire Resources Ltd.		2,800,720		6,691,502
*	SciDev Ltd.		144,186		26,088
#	Select Harvests Ltd.		865,608		2,912,150
#	Servcorp Ltd.		348,243		735,607
	Service Stream Ltd.		4,084,976		1,773,227
*	Seven West Media Ltd.		6,816,169		1,791,391
	SG Fleet Group Ltd.		639,084		820,590
	Shaver Shop Group Ltd.		677,094		467,679
*	Sheffield Resources Ltd.		249,376		64,574
	Shine Justice Ltd.		59,739		46,097
	Shriro Holdings Ltd.		24,206		10,699
*	Sierra Rutile Holdings Ltd.		1,588,118		213,326
	Sigma Healthcare Ltd.		6,618,255		2,819,422
# *	Silex Systems Ltd.		80,327		151,281
*	Silver Lake Resources Ltd.		5,791,755		4,342,241
# *	Silver Mines Ltd.		3,864,903		402,192
	Sims Ltd.		1,106,977		9,462,030
	SmartGroup Corp. Ltd.		905,773		2,897,120
*	SomnoMed Ltd.		25,160		23,380
	Southern Cross Electrical Engineering Ltd.		818,070		340,471
#	Southern Cross Media Group Ltd.		1,561,488		920,162
* ††	Speedcast International Ltd.		1,497,915		0
*	Splitit Ltd.		84,457		7,260
	SRG Global Ltd.		772,940		328,737
*	St Barbara Ltd.		5,695,784		2,685,366
*	Star Entertainment Group Ltd.		5,556,810		9,172,658
# *	Starpharma Holdings Ltd.		262,161		105,130

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
AUSTRALIA — (Continued)
	Steadfast Group Ltd.		500,976	$	1,489,630
*	Strickland Metals Ltd.		299,807		7,662
# *	Strike Energy Ltd.		6,153,921		969,217
	Strike Energy Ltd.		373,188		58,484
#	Sunland Group Ltd.		1,125,311		1,682,940
*	Sunrise Energy Metals Ltd.		8,693		13,449
# *	Sunstone Metals Ltd.		7,298,573		166,807
#	Super Retail Group Ltd.		1,057,351		6,013,279
# *	Superloop Ltd.		2,277,154		958,988
	Symbio Holdings Ltd.		318,710		646,492
# *	Syrah Resources Ltd.		4,792,786		4,980,254
	Tabcorp Holdings Ltd.		4,742,690		2,844,109
	Tassal Group Ltd.		1,531,815		5,067,972
	Technology One Ltd.		1,376,564		9,291,959
# *	Temple & Webster Group Ltd.		540,805		1,704,028
	Ten Sixty Four Ltd.		1,044,721		427,326
	Terracom Ltd.		1,738,781		1,130,334
*	Tesserent Ltd.		322,736		21,693
*	Tietto Minerals Ltd.		498,494		137,405
	Tribune Resources Ltd.		14,725		35,018
# *	Tyro Payments Ltd.		2,067,445		1,695,762
	United Malt Grp Ltd.		1,793,689		3,595,279
#	Universal Store Holdings Ltd.		19,109		57,639
††	Virgin Australia Holdings Pty. Ltd.		7,648,897		0
	Vita Group Ltd.		374,239		28,851
# *	Vital Metals Ltd.		246,694		5,109
W	Viva Energy Group Ltd.		3,776,327		6,343,678
# *	Viva Leisure Ltd.		84,215		60,905
*	Vmoto Ltd.		267,457		66,993
# *	Volpara Health Technologies Ltd.		225,102		79,759
# *	VRX Silica Ltd.		1,325,475		123,577
# *	Wagners Holding Co. Ltd.		137,096		70,236
*	Walkabout Resources Ltd.		1,129,282		116,478
# *	Warrego Energy Ltd.		86,865		7,727
# *	Webjet Ltd.		2,329,981		7,069,839
*	West African Resources Ltd.		6,322,943		4,222,205
*	Westgold Resources Ltd.		3,170,864		1,692,139
# *	Whispir Ltd.		121,430		54,903
	Whitehaven Coal Ltd.		3,623,702		21,024,189
*	Widgie Nickel Ltd.		265,653		39,932
*	Wiluna Mining Corp. Ltd.		248,265		32,555
# *	Zip Co. Ltd.		2,250,758		969,816

TOTAL AUSTRALIA					747,247,134

CHINA — (0.1%)
W	BOC Aviation Ltd.		49,900		352,766
	BOE Varitronix Ltd.		84,293		151,541
*	China Display Optoelectronics Technology Holdings Ltd.		352,000		16,200
	Fountain SET Holdings Ltd.		4,258,000		460,638
	GDH Guangnan Holdings Ltd.		1,739,600		128,398
*	Goodbaby International Holdings Ltd.		716,000		69,030
*	Neo-Neon Holdings Ltd.		2,315,500		135,497

TOTAL CHINA					1,314,070

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
HONG KONG — (21.0%)
*	Aceso Life Science Group Ltd.		7,436,400	$	105,166
	Aeon Credit Service Asia Co. Ltd.		1,024,000		650,055
	Allied Group Ltd.		11,794,000		2,702,162
	Analogue Holdings Ltd.		842,000		133,510
	APAC Resources Ltd.		4,519,815		597,044
# *	Apollo Future Mobility Group Ltd.		8,436,000		236,471
*	Applied Development Holdings Ltd.		11,215,000		136,499
	Asia Financial Holdings Ltd.		2,080,908		878,141
*	Asia Standard Hotel Group Ltd.		2,491,654		29,024
*	Asia Standard International Group Ltd.		11,076,917		612,159
	Asiasec Properties Ltd.		1,371,000		65,845
	ASMPT Ltd.		1,590,200		9,639,722
	Associated International Hotels Ltd.		952,000		1,207,211
	Bank of East Asia Ltd.		2,618,734		2,864,018
††	Bel Global Resources Holdings Ltd.		2,576,000		0
	Best Mart 360 Holdings Ltd.		984,000		272,481
	BOCOM International Holdings Co. Ltd.		2,371,000		129,594
	Bright Smart Securities & Commodities Group Ltd.		122,000		16,269
††	Brightoil Petroleum Holdings Ltd.		9,034,000		323,742
	Build King Holdings Ltd.		630,000		52,872
††	Burwill Holdings Ltd.		37,300,960		63,201
	Cafe de Coral Holdings Ltd.		2,996,000		3,716,938
# *	Cathay Pacific Airways Ltd.		1,231,000		1,294,250
*	Century City International Holdings Ltd.		7,111,460		262,630
	Chen Hsong Holdings		1,296,000		275,211
	Cheuk Nang Holdings Ltd.		771,714		209,855
	Chevalier International Holdings Ltd.		820,989		763,527
*	China Baoli Technologies Holdings Ltd.		114,750		1,222
*	China Best Group Holding Ltd.		1,124,998		89,872
*	China Energy Development Holdings Ltd.		49,560,000		910,448
	China Motor Bus Co. Ltd.		80,000		765,227
# *	China Star Entertainment Ltd.		11,170,000		1,137,552
# *	China Strategic Holdings Ltd.		83,051,250		273,838
*	China Tonghai International Financial Ltd.		1,300,000		30,744
*	Chinese Estates Holdings Ltd.		2,943,500		772,021
	Chinney Investments Ltd.		1,180,000		193,245
	Chow Sang Sang Holdings International Ltd.		2,353,000		2,389,047
	Chuang’s China Investments Ltd.		8,811,407		312,194
	Chuang’s Consortium International Ltd.		7,519,043		743,441
	CITIC Telecom International Holdings Ltd.		12,427,125		4,019,471
#	CK Life Sciences International Holdings, Inc.		17,940,000		1,407,788
#	CMBC Capital Holdings Ltd.		440,999		104,310
*	C-Mer Eye Care Holdings Ltd.		2,346,000		1,022,565
	CNT Group Ltd.		7,979,264		386,552
	Convenience Retail Asia Ltd.		1,026,000		107,397
# ††	Convoy, Inc.		32,922,000		131,274
*	Cowell e Holdings, Inc.		540,000		789,988
W	Crystal International Group Ltd.		304,000		96,087
	CSI Properties Ltd.		47,866,383		950,352
††	CW Group Holdings Ltd.		1,361,500		0
	Dah Sing Banking Group Ltd.		3,703,916		2,450,147
	Dah Sing Financial Holdings Ltd.		1,406,544		3,195,236
	Dickson Concepts International Ltd.		1,591,000		709,027
*	Digital Domain Holdings Ltd.		581,000		22,574
*	Dingyi Group Investment Ltd.		300,000		2,758
	Dynamic Holdings Ltd.		198,000		202,095

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
HONG KONG — (Continued)
	Eagle Nice International Holdings Ltd.		2,022,000	$	1,119,926
#	EC Healthcare		1,648,097		1,018,285
††	EcoGreen International Group Ltd.		1,994,640		362,100
*	Elegance Optical International Holdings Ltd.		1,160,000		79,197
*	Emperor Capital Group Ltd.		7,395,000		49,845
	Emperor Entertainment Hotel Ltd.		3,670,000		223,146
	Emperor International Holdings Ltd.		10,584,753		821,396
	Emperor Watch & Jewellery Ltd.		25,160,000		411,851
	Energy International Investments Holdings Ltd.		196,000		8,589
*	ENM Holdings Ltd.		13,248,000		771,753
*	Esprit Holdings Ltd.		10,440,325		981,090
*	Eternity Investment Ltd.		820,000		11,237
	EuroEyes International Eye Clinic Ltd., Class C		331,000		188,559
#	Fairwood Holdings Ltd.		805,600		1,016,160
	Far East Consortium International Ltd.		13,169,612		2,942,627
	First Pacific Co. Ltd.		15,292,000		4,649,675
* W	FIT Hon Teng Ltd.		2,381,000		279,247
# * W	Fosun Tourism Group		37,800		34,937
	Four Seas Mercantile Holdings Ltd.		610,000		203,469
	FSE Lifestyle Services Ltd.		639,000		404,660
*	Fullwealth International Group Holdings Ltd.		448,000		112,891
* ††	Genting Hong Kong Ltd.		5,824,000		115,446
	Get Nice Financial Group Ltd.		2,438,600		214,435
	Giordano International Ltd.		8,456,000		1,513,624
	Glorious Sun Enterprises Ltd.		3,932,000		363,243
	Gold Fin Holdings		9,580,000		0
*	Gold Peak Technology Group Ltd., Class L		3,029,642		224,800
	Golden Resources Development International Ltd.		4,082,500		236,542
	Goodresources		6,860,000		13,895
*	GR Properties Ltd.		1,962,000		259,582
	Great Eagle Holdings Ltd.		1,180,472		2,202,448
*	Greentech Technology International Ltd.		2,594,000		171,293
	G-Resources Group Ltd.		2,817,810		585,477
	Guoco Group Ltd.		2,000		17,730
	Guotai Junan International Holdings Ltd.		28,365,797		2,086,898
# *	Haitong International Securities Group Ltd.		13,683,640		1,164,338
	Hang Lung Group Ltd.		2,959,000		4,776,806
	Hanison Construction Holdings Ltd.		2,713,649		397,217
*	Hans Energy Co. Ltd.		84,000		1,464
*	Harbour Centre Development Ltd.		935,500		809,559
	HKBN Ltd.		4,235,500		3,284,529
	HKR International Ltd.		7,078,969		1,998,551
	Hon Kwok Land Investment Co. Ltd.		388,800		108,888
# *	Hong Kong ChaoShang Group Ltd.		1,440,000		156,077
	Hong Kong Ferry Holdings Co. Ltd.		1,007,300		824,464
	Hong Kong Technology Venture Co. Ltd.		2,235,000		1,363,658
*	Hongkong & Shanghai Hotels Ltd.		3,625,989		3,136,582
	Hongkong Chinese Ltd.		5,038,000		356,862
W	Honma Golf Ltd.		1,097,500		439,231
††	Hsin Chong Group Holdings Ltd.		10,243,403		0
	Hung Hing Printing Group Ltd.		2,940,000		374,764
# *	Huobi Technology Holdings Ltd.		340,000		161,700
	Hutchison Telecommunications Hong Kong Holdings Ltd.		11,624,000		1,702,537
*	Hypebeast Ltd.		2,772,500		207,345
	Hysan Development Co. Ltd.		2,634,000		6,628,284
	IGG, Inc.		6,794,000		2,085,999

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
HONG KONG — (Continued)
*	Imagi International Holdings Ltd.		2,516,984	$	102,720
W	Impro Precision Industries Ltd.		386,000		96,280
	International Housewares Retail Co. Ltd.		2,031,000		733,978
*	IPE Group Ltd.		3,345,000		275,607
# *	IRC Ltd.		35,846,266		523,466
	ITC Properties Group Ltd.		5,543,292		679,274
	Jacobson Pharma Corp. Ltd.		3,580,000		391,824
	Johnson Electric Holdings Ltd.		2,370,554		2,366,422
	K Wah International Holdings Ltd.		1,670,000		518,488
*	Kader Holdings Co. Ltd.		112,000		5,614
	Karrie International Holdings Ltd.		2,932,000		483,798
	Keck Seng Investments Hong Kong Ltd.		912,600		251,853
	Kerry Logistics Network Ltd.		4,063,500		6,512,136
	Kerry Properties Ltd.		2,556,500		4,846,019
	Kingmaker Footwear Holdings Ltd.		1,878,955		221,191
#	Kowloon Development Co. Ltd.		3,067,000		3,538,018
# *	KuangChi Science Ltd.		3,714,000		54,262
*	Kwoon Chung Bus Holdings Ltd.		44,000		9,828
*	Lai Sun Development Co. Ltd.		2,556,894		1,241,499
*	Lai Sun Garment International Ltd.		998,295		515,613
	Lam Soon Hong Kong Ltd.		326,310		415,818
*	Landing International Development Ltd.		6,932,800		151,958
*	Landsea Green Management Ltd.		1,508,000		29,969
	Langham Hospitality Investments & Langham Hospitality Investments Ltd.		4,040,750		405,269
*	Lifestyle International Holdings Ltd.		2,792,000		1,614,387
	Lippo China Resources Ltd.		17,982,000		314,566
	Lippo Ltd.		1,161,700		410,996
	Liu Chong Hing Investment Ltd.		1,531,200		1,304,241
	L’Occitane International SA		1,913,250		5,767,924
	Luk Fook Holdings International Ltd.		3,509,000		8,282,106
	Lung Kee Bermuda Holdings		1,491,875		428,809
*	Magnificent Hotel Investment Ltd.		13,170,000		171,246
#	Man Wah Holdings Ltd.		2,474,000		1,566,572
*	Mason Group Holdings Ltd.		111,713,399		338,272
	Master Glory GP		972,981		6,049
	Matrix Holdings Ltd.		1,067,414		400,390
#	MECOM Power & Construction Ltd.		7,876,000		1,842,879
	Melbourne Enterprises Ltd.		39,500		604,290
*	Melco International Development Ltd.		3,354,000		2,590,101
††	MH Development NPV		3,238,000		0
*	Midland Holdings Ltd.		2,901,987		207,145
#	Miramar Hotel & Investment		1,152,000		1,761,409
	Modern Dental Group Ltd.		2,190,000		488,281
*	Mongolian Mining Corp.		975,000		223,203
*	NagaCorp Ltd.		4,832,133		3,164,660
	Nameson Holdings Ltd.		7,692,000		382,653
	Nanyang Holdings Ltd.		133,500		526,847
	National Electronics Holdings		2,668,600		339,900
* ††	National United Resources Holdings Ltd.		1,828,000		27,252
*	New Times Energy Corp. Ltd.		994,000		11,777
* ††	NewOcean Energy Holdings Ltd.		7,246,000		27,047
	Nissin Foods Co. Ltd.		1,577,000		1,229,541
	NWS Holdings Ltd.		6,849,000		6,178,985
	Oriental Watch Holdings		2,977,611		1,423,898
# *	Oshidori International Holdings Ltd.		20,024,400		688,179
††	Pacific Andes International Holdings Ltd.		19,435,067		67,840

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
HONG KONG — (Continued)
	Pacific Basin Shipping Ltd.		26,113,000	$	8,063,279
*	Pacific Century Premium Developments Ltd.		457,240		19,732
	Pacific Textiles Holdings Ltd.		6,042,000		1,880,898
*	Paliburg Holdings Ltd.		3,180,830		722,599
*	Paradise Entertainment Ltd.		3,672,000		312,969
#	PC Partner Group Ltd.		1,678,000		899,293
	PCCW Ltd.		13,651,545		6,159,017
# * ††	Peace Mark Holdings Ltd.		2,479,870		0
	Pegasus International Holdings Ltd.		36,000		3,121
	Pentamaster International Ltd.		1,550,000		157,534
#	Perfect Medical Health Management Ltd.		3,087,000		1,311,799
	Pico Far East Holdings Ltd.		5,142,000		699,288
	Playmates Holdings Ltd.		7,082,000		586,221
	Plover Bay Technologies Ltd.		2,224,000		676,511
	Pokfulam Development Co. Ltd.		62,000		74,643
*	PT International Development Co. Ltd.		8,347,150		208,359
	Public Financial Holdings Ltd.		2,848,000		787,709
††	Pyxis Group Ltd.		1,936,000		0
*	Regal Hotels International Holdings Ltd.		2,897,800		1,080,282
W	Regina Miracle International Holdings Ltd.		1,983,000		1,103,048
# *	Sa Sa International Holdings Ltd.		4,790,960		662,611
	Safety Godown Co. Ltd.		1,200,000		404,542
* W	Samsonite International SA		603,900		1,448,396
	SAS Dragon Holdings Ltd.		2,178,000		952,659
	SEA Holdings Ltd.		1,657,523		943,767
*	Shangri-La Asia Ltd.		3,754,000		2,606,889
# *	Shenwan Hongyuan HK Ltd.		3,511,250		206,957
*	Shun Ho Property Investments Ltd.		1,254,757		160,782
*	Shun Tak Holdings Ltd.		11,551,419		1,610,715
	Singamas Container Holdings Ltd.		8,800,000		668,757
*	SJM Holdings Ltd.		12,588,750		4,675,295
	SmarTone Telecommunications Holdings Ltd.		2,003,481		1,049,490
#	Solomon Systech International Ltd.		10,238,000		563,504
	Soundwill Holdings Ltd.		600,500		511,815
*	South China Holdings Co. Ltd.		17,774,503		115,809
*	Space Group Holdings Ltd.		190,000		89,295
	Stella International Holdings Ltd.		2,678,500		2,657,221
	Sun Hung Kai & Co. Ltd.		4,919,429		1,771,941
*	Suncorp Technologies Ltd.		210,000		9,448
	SUNeVision Holdings Ltd.		2,729,000		1,448,429
	TAI Cheung Holdings Ltd.		2,329,000		1,189,098
	Tai Hing Group Holdings Ltd.		221,000		27,809
	Tai Sang Land Development Ltd.		798,910		392,251
#	Tan Chong International Ltd.		1,176,000		293,543
	Tao Heung Holdings Ltd.		1,396,000		142,298
*	Television Broadcasts Ltd.		1,992,500		880,493
*	Termbray Industries International Holdings Ltd.		780,900		29,816
	Texhong Textile Group Ltd.		293,500		199,906
	Texwinca Holdings Ltd.		4,008,000		538,766
	Tian Teck Land Ltd.		1,024,000		511,525
*	TOM Group Ltd.		416,000		40,660
	Town Health International Medical Group Ltd.		4,442,115		239,462
	Tradelink Electronic Commerce Ltd.		6,126,000		653,371
	Transport International Holdings Ltd.		1,584,202		1,929,986
	United Laboratories International Holdings Ltd.		6,200,000		2,574,579
*	Universal Technologies Holdings Ltd.		1,730,000		27,517

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
HONG KONG — (Continued)
	Untrade.China Solar		1,669,500	$	7,178
††	Up Energy Development Group Ltd.		3,929,000		0
*	Value Convergence Holdings Ltd.		2,448,000		53,234
#	Value Partners Group Ltd.		5,458,000		1,289,870
	Vanke Overseas Investment Holding Co. Ltd.		16,000		4,214
	Vedan International Holdings Ltd.		3,576,000		301,462
*	Vitasoy International Holdings Ltd.		3,373,000		4,194,347
# * W	VPower Group International Holdings Ltd., Class H		2,997,397		280,220
	VSTECS Holdings Ltd.		5,999,600		3,361,140
	VTech Holdings Ltd.		1,292,000		7,407,670
	Wai Kee Holdings Ltd.		5,666,738		1,718,674
	Wang On Group Ltd.		41,740,000		313,888
# *	Wealthking Investments Ltd.		7,296,000		397,043
	Wing On Co. International Ltd.		759,000		1,388,699
#	Wing Tai Properties Ltd.		2,187,331		1,005,879
*	YT Realty Group Ltd.		1,968,124		191,339
	YTO Express Holdings Ltd.		776,000		176,766
	Yue Yuen Industrial Holdings Ltd.		2,712,500		3,459,652
# *	Yunfeng Financial Group Ltd.		612,000		81,194
# *	Zensun Enterprises Ltd.		1,154,000		237,229
*	Zhaobangji Properties Holdings Ltd.		1,688,000		90,996

TOTAL HONG KONG					253,827,724

NEW ZEALAND — (4.2%)
*	AFT Pharmaceuticals Ltd.		34,226		63,171
*	Air New Zealand Ltd.		2,841,438		1,134,482
	Arvida Group Ltd.		1,179,235		945,005
	Briscoe Group Ltd.		34,115		100,380
*	Channel Infrastructure NZ Ltd.		895,413		704,882
	Chorus Ltd.		2,478,401		10,545,298
	Colonial Motor Co. Ltd.		144,588		787,307
#	Comvita Ltd.		50,282		89,883
#	Delegat Group Ltd.		6,400		36,507
# *	Eroad Ltd.		24,092		21,067
#	Freightways Ltd.		900,023		4,938,228
	Genesis Energy Ltd.		155,411		237,883
# *	Gentrack Group Ltd.		71,302		58,031
#	Hallenstein Glasson Holdings Ltd.		307,057		891,537
	Heartland Group Holdings Ltd.		2,385,492		2,202,028
	Investore Property Ltd.		634,503		539,450
	KMD Brands Ltd.		2,468,331		1,447,098
#	Manawa Energy Ltd.		237,979		756,893
#	Millennium & Copthorne Hotels New Zealand Ltd.		354,679		395,796
#	Napier Port Holdings Ltd.		46,155		74,154
#	NZME Ltd.		945,851		612,626
#	NZX Ltd.		1,535,149		1,034,209
	Oceania Healthcare Ltd.		1,384,448		707,097
# *	Pacific Edge Ltd.		1,212,223		335,363
	PGG Wrightson Ltd.		120,785		296,935
*	Pushpay Holdings Ltd.		2,847,906		1,751,974
*	Rakon Ltd.		182,922		120,241
#	Restaurant Brands New Zealand Ltd.		145,379		622,456
††	RPNZ Ltd.		274,180		0
*	Sanford Ltd.		362,156		846,975
#	Scales Corp. Ltd.		436,710		1,205,723

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
NEW ZEALAND — (Continued)
#	Scott Technology Ltd.		52,367	$	81,825
*	Serko Ltd.		125,518		223,923
	Skellerup Holdings Ltd.		846,136		2,537,544
	SKY Network Television Ltd.		386,493		463,885
*	SKYCITY Entertainment Group Ltd.		4,246,632		6,449,136
	Steel & Tube Holdings Ltd.		575,667		444,531
	Summerset Group Holdings Ltd.		637,929		3,844,151
*	Synlait Milk Ltd.		454,797		903,189
# *	Tourism Holdings Ltd.		683,001		1,065,325
	TOWER Ltd.		1,895,126		674,484
#	Turners Automotive Group Ltd.		109,772		217,389
# *	Vista Group International Ltd.		516,999		473,411
	Warehouse Group Ltd.		387,506		669,825

TOTAL NEW ZEALAND					51,551,297

SINGAPORE — (11.1%)
* ††	Abterra Ltd.		230,320		0
	AEM Holdings Ltd.		940,200		2,601,002
	Amara Holdings Ltd.		974,800		233,279
# *	Avarga Ltd.		2,626,500		339,407
	Aztech Global Ltd.		202,500		111,726
# *	Banyan Tree Holdings Ltd.		887,700		172,125
# *	Best World International Ltd.		514,383		365,306
#	Bonvests Holdings Ltd.		950,000		615,591
	Boustead Singapore Ltd.		2,084,782		1,118,812
	BRC Asia Ltd.		26,900		30,188
#	Bukit Sembawang Estates Ltd.		1,176,003		3,669,689
	Bund Center Investment Ltd.		659,825		209,711
	Capitaland India Trust		4,704,500		3,426,363
#	Centurion Corp. Ltd.		1,405,100		364,776
#	China Aviation Oil Singapore Corp. Ltd.		2,355,399		1,210,874
	China Sunsine Chemical Holdings Ltd.		3,341,800		1,045,441
	Chip Eng Seng Corp. Ltd.		3,001,900		1,460,996
	Chuan Hup Holdings Ltd.		3,341,700		512,638
	Civmec Ltd.		162,700		68,331
	ComfortDelGro Corp. Ltd.		9,120,200		8,359,291
*	COSCO Shipping International Singapore Co. Ltd.		6,429,100		772,804
# *	Creative Technology Ltd.		285,050		332,463
#	CSE Global Ltd.		2,232,300		661,457
	Dasin Retail Trust		296,700		58,746
#	Del Monte Pacific Ltd.		2,302,364		495,684
#	Delfi Ltd.		1,075,400		533,793
††	DMX Technologies Group Ltd.		2,096,000		0
# *	Dyna-Mac Holdings Ltd.		1,390,900		165,464
# * ††	Ezion Holdings Ltd.		9,845,878		0
# * ††	Ezra Holdings Ltd.		6,762,986		9,700
	Far East Orchard Ltd.		1,191,395		862,465
	First Resources Ltd.		3,461,600		3,330,962
#	First Sponsor Group Ltd.		484,728		410,456
	Food Empire Holdings Ltd.		1,334,200		465,344
	Fraser & Neave Ltd.		314,800		266,678
	Frasers Property Ltd.		13,400		9,145
#	Frencken Group Ltd.		1,328,900		893,044
	Fu Yu Corp. Ltd.		3,671,500		611,347
# *	Gallant Venture Ltd.		5,386,600		478,218

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SINGAPORE — (Continued)
#	Geo Energy Resources Ltd.		2,078,300	$	523,736
	GK Goh Holdings Ltd.		1,315,065		841,999
	Golden Agri-Resources Ltd.		31,541,800		5,791,986
*	Golden Energy & Resources Ltd.		2,746,900		1,504,653
	GP Industries Ltd.		181,509		79,525
	Grand Venture Technology Ltd.		34,200		14,101
#	GuocoLand Ltd.		1,709,514		1,956,334
# *	Halcyon Agri Corp. Ltd.		1,635,533		218,808
	Haw Par Corp. Ltd.		405,500		2,888,759
	Hiap Hoe Ltd.		498,000		260,036
#	Ho Bee Land Ltd.		1,505,100		2,648,293
#	Hong Fok Corp. Ltd.		2,673,494		1,814,636
#	Hong Leong Asia Ltd.		1,675,100		804,689
#	Hong Leong Finance Ltd.		1,014,200		1,673,599
#	Hotel Grand Central Ltd.		1,611,854		1,045,821
#	Hour Glass Ltd.		1,445,432		2,104,933
	HRnetgroup Ltd.		260,800		133,877
	Hutchison Port Holdings Trust		24,607,400		4,520,675
# * ††	Hyflux Ltd.		3,238,900		0
#	iFAST Corp. Ltd.		786,900		2,153,172
#	Indofood Agri Resources Ltd.		2,701,700		571,139
	InnoTek Ltd.		336,600		102,928
#	ISDN Holdings Ltd.		412,544		122,721
#	Japfa Ltd.		2,345,710		901,025
# * ††	Jurong Technologies Industrial Corp. Ltd.		2,227,680		0
	Keppel Infrastructure Trust		18,468,846		6,927,582
#	KSH Holdings Ltd.		1,278,300		296,501
#	Low Keng Huat Singapore Ltd.		949,800		267,474
	Lum Chang Holdings Ltd.		1		0
*	Mandarin Oriental International Ltd.		1,452,700		2,718,353
# *	Marco Polo Marine Ltd.		4,046,400		102,669
#	Metro Holdings Ltd.		2,946,592		1,384,224
	Mewah International, Inc.		89,000		19,800
	Micro-Mechanics Holdings Ltd.		115,800		241,981
# * ††	Midas Holdings Ltd.		8,576,553		0
# *	mm2 Asia Ltd.		5,969,400		174,483
	Nanofilm Technologies International Ltd.		451,500		655,740
	NETLINK NBN TRUST		797,000		501,733
#	NSL Ltd.		409,900		237,940
# *	Oceanus Group Ltd.		6,540,800		58,916
	OUE Ltd.		2,029,200		1,836,241
#	Oxley Holdings Ltd.		7,186,441		793,703
	Pacific Century Regional Developments Ltd.		179,000		59,098
#	Pan-United Corp. Ltd.		1,866,350		545,530
*	Place Holdings Ltd.		1,427,400		30,529
	Propnex Ltd.		386,300		402,480
#	PSC Corp. Ltd.		1,339,819		314,081
#	Q&M Dental Group Singapore Ltd.		1,136,160		268,118
	QAF Ltd.		1,484,380		863,042
# *	Raffles Education Corp. Ltd.		2,803,923		104,941
	Raffles Medical Group Ltd.		6,306,332		5,827,551
	Riverstone Holdings Ltd.		341,500		136,532
	Samudera Shipping Line Ltd.		213,100		122,119
*	SATS Ltd.		416,700		870,673
#	SBS Transit Ltd.		796,600		1,497,280
*	Sembcorp Marine Ltd.		37,571,400		2,747,597

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SINGAPORE — (Continued)
	Sheng Siong Group Ltd.		3,904,500	$	4,296,924
*	SHS Holdings Ltd.		2,175,300		222,106
*	SIA Engineering Co. Ltd.		1,657,700		2,573,579
#	SIIC Environment Holdings Ltd.		5,686,720		697,662
	Silverlake Axis Ltd.		794,700		175,185
	Sinarmas Land Ltd.		7,118,700		955,653
#	Sing Holdings Ltd.		1,470,400		383,107
	Sing Investments & Finance Ltd.		350,675		367,949
	Singapore Land Group Ltd.		111,369		182,397
	Singapore Post Ltd.		10,013,100		3,795,594
	Singapore Shipping Corp. Ltd.		1,573,200		279,333
#	Stamford Land Corp. Ltd.		5,698,660		1,464,170
	StarHub Ltd.		4,812,100		3,676,518
	Straco Corp. Ltd.		130,000		33,921
#	Straits Trading Co. Ltd.		476,248		806,467
# * ††	Swiber Holdings Ltd.		2,895,250		0
	Thomson Medical Group Ltd.		1,408,700		78,206
	Tiong Woon Corp. Holding Ltd.		26,600		8,468
#	Tuan Sing Holdings Ltd.		4,214,136		925,346
	UMS Holdings Ltd.		2,888,368		2,525,428
	United Overseas Insurance Ltd.		168,150		780,617
	UOB-Kay Hian Holdings Ltd.		2,574,498		2,418,840
#	Valuetronics Holdings Ltd.		2,647,550		965,172
#	Vicom Ltd.		557,500		776,773
#	Wee Hur Holdings Ltd.		2,614,200		370,770
#	Wing Tai Holdings Ltd.		3,802,967		4,023,045
	Yangzijiang Shipbuilding Holdings Ltd.		3,719,600		2,655,467
	Yeo Hiap Seng Ltd.		228,759		117,545

TOTAL SINGAPORE					134,513,914

UNITED STATES — (0.1%)
* W	Frontage Holdings Corp.		2,962,000		778,567

TOTAL COMMON STOCKS					1,189,232,706

RIGHTS/WARRANTS — (0.0%)
AUSTRALIA — (0.0%)
*	Arafura Resources Ltd.		472,767		19,052
*	Decmil Group Ltd. Warrants 09/15/22		5,306		0
*	PointsBet Holdings Ltd. Warrants		6,189		0

TOTAL AUSTRALIA					19,052

HONG KONG — (0.0%)
# *	MECOM Power & Construction Ltd. Warrants 05/16/23		528,800		8,555

SINGAPORE — (0.0%)
# *	Ezion Holdings Ltd. Warrants 04/16/23		5,659,201		0

TOTAL RIGHTS/WARRANTS					27,607

TOTAL INVESTMENT SECURITIES (Cost $1,553,368,926)					1,189,260,313

THE ASIA PACIFIC SMALL COMPANY SERIES

CONTINUED


		Shares	Value†
SECURITIES LENDING COLLATERAL — (1.7%)
@ §	The DFA Short Term Investment Fund	1,744,345	$	20,178,582

TOTAL INVESTMENTS — (100.0%)
(Cost $1,573,543,943)^^			$	1,209,438,895

ADR	American Depositary Receipt

SA	Special Assessment

»	Securities have generally been fair valued. See Security Valuation Note within the Notes to Schedules of Investments.

*	Non-Income Producing Securities.

††	Security valued using significant unobservable inputs (Level 3).

#	Total or Partial Securities on Loan.

W	Rule 144A, Section 4(2), or other security that is restricted as to resale to institutional investors. This security has been deemed liquid based upon the Fund’s Liquidity Guidelines. The liquidity determination is unaudited.

†	See Security Valuation Note within the Notes to Schedules of Investments.

@	Security purchased with cash collateral received from Securities on Loan.

§	Affiliated Fund.

^^	See Federal Tax Cost Note within the Notes to Schedules of Investments.

Summary of the Series’ investments as of September 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3			Total
Common Stocks
Australia	$	448,628	$	746,785,211	$	13,295		$	747,247,134
China		—		1,314,070		—			1,314,070
Hong Kong		—		252,709,822		1,117,902			253,827,724
New Zealand		—		51,551,297		—			51,551,297
Singapore		—		134,504,214		9,700			134,513,914
United States		—		778,567		—			778,567
Rights/Warrants
Australia		—		19,052		—			19,052
Hong Kong		—		8,555		—			8,555
Securities Lending Collateral		—		20,178,582		—			20,178,582

TOTAL	$	448,628	$	1,207,849,370	$	1,140,897	^	$	1,209,438,895

^	A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.

THE UNITED KINGDOM SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

September 30, 2022

(Unaudited)


		Shares	Value»
COMMON STOCKS — (98.8%)
COMMUNICATION SERVICES — (3.6%)
	4imprint Group PLC	162,578	$	6,099,321
*	Ascential PLC	1,572,298		3,578,768
	Bloomsbury Publishing PLC	316,806		1,297,087
	Centaur Media PLC	254,249		122,107
	Euromoney Institutional Investor PLC	592,842		9,478,970
# *	Frontier Developments PLC	55,575		829,270
	Future PLC	58,807		850,167
	Gamma Communications PLC	178,597		2,084,424
*	Helios Towers PLC	1,860,290		2,337,838
# *	Hyve Group PLC	1,575,593		882,793
	ITV PLC	2,854,733		1,801,500
	Moneysupermarket.com Group PLC	3,160,889		6,523,032
	Next Fifteen Communications Group PLC	128,193		1,107,666
	Reach PLC	2,094,224		1,600,072
*	S4 Capital PLC	53,378		86,003
	STV Group PLC	4,918		14,686
*	Tremor International Ltd.	176,315		604,014
# *	Tremor International Ltd., ADR	2,906		20,139

TOTAL COMMUNICATION SERVICES				39,317,857

CONSUMER DISCRETIONARY — (15.7%)
	888 Holdings PLC	2,213,314		2,288,710
# *	AO World PLC	272,456		130,377
*	ASOS PLC	56,327		354,238
# * W	Aston Martin Lagonda Global Holdings PLC	676,550		886,850
	Bellway PLC	383,481		7,223,537
*	boohoo Group PLC	980,423		393,085
*	Card Factory PLC	1,169,822		572,346
# *	Cazoo Group Ltd.	576,666		265,266
	Coats Group PLC	4,701,658		2,654,200
* W	Countryside Partnerships PLC	2,712,258		6,017,971
	Crest Nicholson Holdings PLC	1,745,253		3,541,892
	Currys PLC	5,830,239		3,658,182
* W	Deliveroo PLC	96,590		90,802
#	DFS Furniture PLC	1,258,487		1,470,161
# *	Dignity PLC	219,230		912,359
	Domino’s Pizza Group PLC	3,131,085		7,752,433
	Dr Martens PLC	94,234		230,886
	Dunelm Group PLC	691,465		5,596,635
*	Frasers Group PLC	1,317,926		9,878,003
	Fuller Smith & Turner PLC, Class A	151,287		778,510
	Games Workshop Group PLC	176,198		11,266,735
	Greggs PLC	604,556		11,420,111
* W	Gym Group PLC	975,013		1,189,107
	Halfords Group PLC	1,334,827		1,959,286
	Headlam Group PLC	502,271		1,296,965
	Henry Boot PLC	541,758		1,496,081
	Hollywood Bowl Group PLC	311,048		648,200
* W	Hostelworld Group PLC	206,214		169,383

THE UNITED KINGDOM SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER DISCRETIONARY — (Continued)
	Inchcape PLC	2,415,336	$	18,288,947
*	J D Wetherspoon PLC	456,701		2,033,669
	Lookers PLC	1,488,558		1,085,892
*	Marston’s PLC	4,029,229		1,597,937
	Me Group International PLC	1,529,544		1,447,948
*	Mitchells & Butlers PLC	2,108,969		2,691,322
	MJ Gleeson PLC	240,572		1,105,648
*	Moonpig Group PLC	102,704		181,098
*	Motorpoint group PLC	51,520		103,050
# *	N Brown Group PLC	949,432		248,160
* W	On the Beach Group PLC	149,308		166,922
*	Pendragon PLC	5,100,308		1,525,828
	Pets at Home Group PLC	3,042,980		8,871,494
*	Playtech PLC	1,947,421		9,540,933
	PPHE Hotel Group Ltd.	15,424		238,675
*	Rank Group PLC	1,027,396		778,334
	Redrow PLC	1,679,801		7,396,405
*	Restaurant Group PLC	1,278,080		416,427
	Smiths News PLC	23,379		8,304
	Sportech PLC	159,830		31,889
*	SSP Group PLC	2,860,371		5,986,131
# ††	Studio Retail Group PLC	220,669		106,267
*	Superdry PLC	337,189		375,895
*	THG PLC	202,425		84,541
W	TI Fluid Systems PLC	333,751		448,380
	Topps Tiles PLC	786,772		337,045
	Vertu Motors PLC	1,326,258		619,404
	VIDENDUM PLC	215,891		2,882,674
#	Vistry Group PLC	1,228,992		8,040,557
* W	Watches of Switzerland Group PLC	318,155		2,351,415
*	WH Smith PLC	371,305		4,895,494
	Wickes Group PLC	2,129,864		2,835,606
	Young & Co’s Brewery PLC, Class A	14,543		151,332

TOTAL CONSUMER DISCRETIONARY				171,015,934

CONSUMER STAPLES — (7.0%)
	AG Barr PLC	726,615		3,688,481
	Anglo-Eastern Plantations PLC	124,523		1,081,494
W	Bakkavor Group PLC	121,093		121,227
	Britvic PLC	1,626,728		12,956,648
*	C&C Group PLC	1,925,624		3,202,303
	Carr’s Group PLC	349,511		376,139
	Cranswick PLC	365,093		10,845,767
	Devro PLC	1,358,722		2,510,617
	Fevertree Drinks PLC	434,527		4,021,232
*	Greencore Group PLC	4,044,639		3,257,552
	Hilton Food Group PLC	350,941		2,080,202
*	Marks & Spencer Group PLC	6,860,535		7,483,549
*	McBride PLC	895,746		235,301
	MP Evans Group PLC	7,544		69,534
# *	Naked Wines PLC	32,906		30,536
#	Nichols PLC	2,884		34,797
	Premier Foods PLC	4,675,807		4,989,293
	PZ Cussons PLC	1,717,225		3,721,288

THE UNITED KINGDOM SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
CONSUMER STAPLES — (Continued)
	Tate & Lyle PLC	2,060,165	$	15,533,285

TOTAL CONSUMER STAPLES				76,239,245

ENERGY — (4.3%)
	Capital Ltd.	59,308		54,868
# *	Capricorn Energy PLC	4,040,365		11,028,755
	Diversified Energy Co. PLC	3,411,976		4,921,867
	Energean PLC	285,194		4,226,580
*	EnQuest PLC	12,456,788		3,660,876
	Genel Energy PLC	934,783		1,280,424
	Gulf Keystone Petroleum Ltd.	1,529,511		3,379,209
	Hunting PLC	841,827		2,185,105
*	IGas Energy PLC	61,631		36,105
*	John Wood Group PLC	3,814,872		5,387,430
*	Lamprell PLC	1,293,820		128,555
*	Petrofac Ltd.	2,580,763		2,897,203
*	Pharos Energy PLC	1,203,054		265,793
*	Savannah Energy PLC	388,799		118,668
	Serica Energy PLC	1,065,394		4,426,162
# *	Tullow Oil PLC	7,423,442		3,488,400

TOTAL ENERGY				47,486,000

FINANCIALS — (18.6%)
	AJ Bell PLC	800,782		2,385,176
	Ashmore Group PLC	2,540,311		5,547,057
	Bank of Georgia Group PLC	283,322		6,237,389
	Beazley PLC	3,180,736		19,827,454
	Brooks Macdonald Group PLC	628		13,153
	Burford Capital Ltd.	958,135		7,075,843
	Chesnara PLC	863,650		2,625,570
	Close Brothers Group PLC	898,617		9,249,292
W	CMC Markets PLC	1,034,375		2,514,049
	Direct Line Insurance Group PLC	3,038,020		6,267,914
* W	Funding Circle Holdings PLC	104,248		47,348
*	Georgia Capital PLC	29,520		203,415
	Hiscox Ltd.	1,578,464		15,486,721
	IG Group Holdings PLC	700,509		5,936,650
	Impax Asset Management Group PLC	190,281		1,101,468
	IntegraFin Holdings PLC	479,917		1,174,592
	International Personal Finance PLC	828,317		758,143
	Investec PLC	1,111,096		4,471,542
	IP Group PLC	6,416,521		4,213,564
W	JTC PLC	1,454		11,073
	Jupiter Fund Management PLC	2,622,791		2,674,789
	Just Group PLC	7,132,456		4,428,511
	Lancashire Holdings Ltd.	1,670,143		9,213,419
	Liontrust Asset Management PLC	106,732		864,369
	Man Group PLC	7,671,618		18,995,498
*	Metro Bank PLC	198,857		175,960
	Mortgage Advice Bureau Holdings Ltd.	3,857		27,427
	Ninety One PLC	1,838,349		3,720,546
	Numis Corp. PLC	311,926		804,941
	OSB Group PLC	2,103,822		9,789,393
	Paragon Banking Group PLC	1,934,045		8,462,825
	Plus500 Ltd.	525,338		9,611,088

THE UNITED KINGDOM SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
FINANCIALS — (Continued)
	Polar Capital Holdings PLC	245,033	$	1,131,887
	Provident Financial PLC	1,517,140		2,805,881
W	Quilter PLC	8,070,566		8,240,301
	Rathbones Group PLC	357,843		6,532,346
	Record PLC	18,948		14,404
	S&U PLC	29,239		649,025
W	Sabre Insurance Group PLC	417,265		451,134
*	Saga PLC	640,470		634,730
	TBC Bank Group PLC	84,023		1,558,089
	TP ICAP Group PLC	4,137,686		9,040,668
	Virgin Money UK PLC	6,260,181		8,588,442
††	Waterloo Investment Holdings Ltd.	4,000		520
	XPS Pensions Group PLC	6,312		8,977

TOTAL FINANCIALS				203,572,583

HEALTH CARE — (4.9%)
*	4d pharma PLC	42,478		5,929
	Advanced Medical Solutions Group PLC	408,500		1,105,880
	Alliance Pharma PLC	2,372,960		1,479,089
	CVS Group PLC	413,530		7,879,097
	EKF Diagnostics Holdings PLC	79,384		35,383
	EMIS Group PLC	328,823		6,905,089
*	Ergomed PLC	40,995		529,408
	Hikma Pharmaceuticals PLC	218,394		3,291,852
*	Indivior PLC	3,859,474		12,237,012
W	Integrated Diagnostics Holdings PLC	1,249,693		944,803
#	Mediclinic International PLC	2,400,508		13,160,998
*	NIOX GROUP PLC	202,629		82,232
*	Oxford Biomedica PLC	61,190		236,764
*	PureTech Health PLC	314,596		866,097
* W	Spire Healthcare Group PLC	1,823,481		4,373,835
*	Trellus Health PLC	1,632		132
*	Verici Dx PLC	1,588		275

TOTAL HEALTH CARE				53,133,875

INDUSTRIALS — (22.5%)
	Avon Rubber PLC	185,963		2,336,820
*	Babcock International Group PLC	2,860,700		8,833,627
	Balfour Beatty PLC	3,610,310		12,306,737
	Begbies Traynor Group PLC	60,262		93,597
W	Biffa PLC	1,562,939		7,149,323
	Bodycote PLC	1,201,080		6,215,180
	BRAEMAR PLC	91,109		291,334
	Chemring Group PLC	1,906,169		5,978,430
	Clarkson PLC	212,943		6,215,302
*	Costain Group PLC	237,261		104,986
# *	De La Rue PLC	498,978		479,128
# *	Dialight PLC	89,929		233,573
	Diploma PLC	472,418		12,138,963
	DiscoverIE Group PLC	594,505		4,261,127
*	easyJet PLC	731,362		2,386,339
# *	Esken Ltd.	1,707,178		99,772
#	Firstgroup PLC	2,565,855		2,987,071
	Galliford Try Holdings PLC	566,273		917,529
	Genuit Group PLC	1,449,475		4,691,967

THE UNITED KINGDOM SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INDUSTRIALS — (Continued)
*	Go-Ahead Group PLC	161,847	$	2,774,006
	Goodwin PLC	383		11,806
	Grafton Group PLC	1,499,770		11,133,167
# *	GXO Logistics, Inc.	4,386		153,762
	Hays PLC	9,235,636		10,408,797
	HomeServe PLC	313,380		4,129,018
	IMI PLC	286,976		3,548,771
	Industrial & Commercial Bank of China Ltd.	5,000		0
*	James Fisher & Sons PLC	203,822		641,563
	James Halstead PLC	122,173		281,806
*	JET2 PLC	808,166		6,185,927
*	Johnson Service Group PLC	589,527		516,426
	Keller Group PLC	433,019		3,024,670
*	Kier Group PLC	1,638,735		1,236,235
W	Luceco PLC	278,939		256,800
	Mears Group PLC	682,577		1,463,969
	Mitie Group PLC	7,620,122		5,284,906
	Morgan Advanced Materials PLC	1,908,978		4,811,074
	Morgan Sindall Group PLC	256,662		4,186,404
*	National Express Group PLC	3,054,001		5,709,680
	Norcros PLC	155,421		285,545
	Pagegroup PLC	1,968,311		8,088,069
	Porvair PLC	18,060		100,550
	QinetiQ Group PLC	3,269,929		11,932,665
	Redde Northgate PLC	1,393,933		4,480,475
	Renew Holdings PLC	72,048		455,145
*	Renewi PLC	576,082		3,612,047
	Ricardo PLC	310,737		1,584,628
	Robert Walters PLC	396,868		2,021,275
	Rotork PLC	4,636,883		12,033,739
	Royal Mail PLC	1,450,844		2,953,207
	RPS Group PLC	1,020,701		2,663,398
	RWS Holdings PLC	99,829		354,801
*	Senior PLC	2,397,255		3,130,120
	Serco Group PLC	4,889,865		8,481,569
	Severfield PLC	1,107,512		601,461
*	SIG PLC	4,224,897		1,400,607
	Smart Metering Systems PLC	536,543		4,789,563
	Speedy Hire PLC	3,288,866		1,352,153
	SThree PLC	872,133		3,338,266
	TClarke PLC	64,836		81,140
	Travis Perkins PLC	1,187,192		10,190,896
	Trifast PLC	524,611		435,012
	Tyman PLC	1,020,064		2,221,879
	Vesuvius PLC	1,540,577		5,317,497
	Volex PLC	465,064		1,259,484
	Volution Group PLC	752,219		2,440,153
	Vp PLC	153,784		1,293,047
	Wilmington PLC	334,384		961,661
	Wincanton PLC	700,232		2,286,566
	XP Power Ltd.	102,993		1,915,041

TOTAL INDUSTRIALS				245,541,251

INFORMATION TECHNOLOGY — (9.1%)
*	accesso Technology Group PLC	14,495		86,886

THE UNITED KINGDOM SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
INFORMATION TECHNOLOGY — (Continued)
	Bytes Technology Group PLC	554,873	$	2,588,988
*	Capita PLC	10,274,296		2,834,754
*	CentralNic Group PLC	22,135		28,118
	Computacenter PLC	501,179		10,765,661
	dotdigital group PLC	438,664		415,069
	FDM Group Holdings PLC	476,786		3,313,168
*	Fund Technologies PLC	32,908		521,176
	GB Group PLC	258,239		1,738,813
	Gooch & Housego PLC	2,781		17,817
#	IDOX PLC	140,149		100,636
#	iomart Group PLC	279,306		505,762
# *	IQE PLC	2,125,735		802,709
	Kainos Group PLC	478,788		6,829,785
	Keywords Studios PLC	1,958		49,948
*	Kin & Carta PLC	321,376		623,507
	Learning Technologies Group PLC	829,270		963,367
	Micro Focus International PLC	1,571,570		9,062,064
	NCC Group PLC	1,818,657		4,387,032
* W	Network International Holdings PLC	234,622		786,143
	Oxford Instruments PLC	362,353		7,173,194
	PayPoint PLC	461,831		3,083,889
	Renishaw PLC	114,971		4,459,073
	RM PLC	358,749		107,008
	Softcat PLC	677,739		8,903,125
	Spectris PLC	462,131		13,964,601
	Spirent Communications PLC	4,065,908		11,826,864
#	Strix Group PLC	162,410		222,980
	TT Electronics PLC	1,084,117		1,690,226
*	Xaar PLC	539,952		1,032,719

TOTAL INFORMATION TECHNOLOGY				98,885,082

MATERIALS — (5.4%)
# *	Accsys Technologies PLC	9,505		6,758
	Anglo Pacific Group PLC	1,234,097		2,084,574
	Breedon Group PLC	2,236,429		1,322,753
	Castings PLC	172,368		537,573
	Centamin PLC	8,251,207		8,277,510
	Central Asia Metals PLC	719,628		1,741,390
*	Elementis PLC	3,385,183		3,384,287
	Essentra PLC	1,720,465		3,474,125
	Ferrexpo PLC	252,415		336,951
W	Forterra PLC	1,574,753		4,097,344
	Gem Diamonds Ltd.	413,552		141,944
	Hill & Smith Holdings PLC	549,355		5,552,278
	Hochschild Mining PLC	1,822,730		1,191,180
W	Ibstock PLC	2,956,022		5,387,960
	Marshalls PLC	1,374,930		4,474,201
	Pan African Resources PLC	5,216,348		1,020,321
*	Petra Diamonds Ltd.	17,532		20,661
	RHI Magnesita NV	132,739		2,481,013
*	SolGold PLC	1,288,015		217,788
	Synthomer PLC	2,154,069		2,537,699
	Victrex PLC	545,312		10,066,884
	Zotefoams PLC	103,100		291,880

TOTAL MATERIALS				58,647,074

THE UNITED KINGDOM SMALL COMPANY SERIES

CONTINUED


		Shares	Value»
REAL ESTATE — (3.2%)
	CLS Holdings PLC	4,103	$	6,393
	Foxtons Group PLC	1,351,763		455,933
	Grainger PLC	4,237,552		10,793,864
	Harworth Group PLC	30,381		40,898
	Helical PLC	846,617		3,380,985
*	IWG PLC	4,139,249		5,799,203
	LSL Property Services PLC	445,897		1,300,183
	Phoenix Spree Deutschland Ltd.	15,813		50,971
	Savills PLC	965,499		8,475,238
	Sirius Real Estate Ltd.	3,453,136		2,722,550
	Watkin Jones PLC	961,788		1,626,988

TOTAL REAL ESTATE				34,653,206

UTILITIES — (4.5%)
*	Centrica PLC	15,733,803		12,346,370
W	ContourGlobal PLC	186,518		524,036
	Drax Group PLC	2,494,304		16,595,272
	Pennon Group PLC	1,335,176		11,649,702
	Telecom Plus PLC	427,882		8,188,774

TOTAL UTILITIES				49,304,154

TOTAL COMMON STOCKS Cost ($1,407,493,417)				1,077,796,261


			Value†
SECURITIES LENDING COLLATERAL — (1.2%)
@ §	The DFA Short Term Investment Fund	1,164,363		13,469,350

TOTAL INVESTMENTS — (100.0%)
(Cost $1,420,960,124)^^			$	1,091,265,611

ADR	American Depositary Receipt

»	Securities have generally been fair valued. See Security Valuation Note within the Notes to Schedules of Investments.

*	Non-Income Producing Securities.

#	Total or Partial Securities on Loan.

W	Rule 144A, Section 4(2), or other security that is restricted as to resale to institutional investors. This security has been deemed liquid based upon the Fund’s Liquidity Guidelines. The liquidity determination is unaudited.

††	Security valued using significant unobservable inputs (Level 3).

†	See Security Valuation Note within the Notes to Schedules of Investments.

@	Security purchased with cash collateral received from Securities on Loan.

§	Affiliated Fund.

^^	See Federal Tax Cost Note within the Notes to Schedules of Investments.

THE UNITED KINGDOM SMALL COMPANY SERIES

CONTINUED

Summary of the Series’ investments as of September 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3			Total
Common Stocks
Communication Services	$	20,139	$	39,297,718		—		$	39,317,857
Consumer Discretionary		—		170,909,667	$	106,267			171,015,934
Consumer Staples		—		76,239,245		—			76,239,245
Energy		—		47,486,000		—			47,486,000
Financials		—		203,572,063		520			203,572,583
Health Care		—		53,133,875		—			53,133,875
Industrials		153,762		245,387,489		—			245,541,251
Information Technology		—		98,885,082		—			98,885,082
Materials		—		58,647,074		—			58,647,074
Real Estate		—		34,653,206		—			34,653,206
Utilities		—		49,304,154		—			49,304,154
Securities Lending Collateral		—		13,469,350		—			13,469,350

TOTAL	$	173,901	$	1,090,984,923	$	106,787	^	$	1,091,265,611

^	A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.

THE CONTINENTAL SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

September 30, 2022

(Unaudited)


		Shares	Value»
COMMON STOCKS — (93.9%)
AUSTRIA — (3.0%)
	Agrana Beteiligungs AG	83,141	$	1,148,923
	ANDRITZ AG	444,373		18,805,774
#	AT&S Austria Technologie & Systemtechnik AG	196,167		6,402,637
W	BAWAG Group AG	337,202		14,495,733
	CA Immobilien Anlagen AG	86,607		2,574,868
# *	DO & Co. AG	46,272		3,069,813
	EVN AG	246,314		4,101,376
*	FACC AG	144,102		851,186
*	Flughafen Wien AG	12,084		389,632
*	Immofinanz AG	681,828		0
*	Josef Manner & Comp AG	870		87,993
# *	Kapsch TrafficCom AG	29,728		316,983
#	Lenzing AG	86,455		4,690,601
#	Mayr Melnhof Karton AG	56,930		7,331,545
	Oberbank AG	23,479		2,347,240
#	Oesterreichische Post AG	120,333		3,207,516
	Palfinger AG	103,627		1,989,815
#	POLYTEC Holding AG	109,361		484,653
	Porr AG	100,602		884,286
	Raiffeisen Bank International AG	135,980		1,608,742
#	Rosenbauer International AG	21,100		612,115
	Schoeller-Bleckmann Oilfield Equipment AG	73,217		3,199,763
#	Semperit AG Holding	71,506		1,200,005
	Strabag SE	106,594		4,019,532
	Telekom Austria AG	1,164,981		6,726,386
	UBM Development AG	21,002		554,880
	UNIQA Insurance Group AG	993,598		5,864,264
	Vienna Insurance Group AG Wiener Versicherung Gruppe	299,448		6,095,057
	voestalpine AG	578,178		9,794,469
	Wienerberger AG	681,129		13,671,481
	Zumtobel Group AG	155,917		911,592

TOTAL AUSTRIA				127,438,860

BELGIUM — (4.4%)
	Ackermans & van Haaren NV	172,739		21,917,917
*	AGFA-Gevaert NV	1,252,462		3,704,457
	Atenor	22,537		903,712
	Banque Nationale de Belgique	71		60,426
	Barco NV	470,132		10,011,470
	Bekaert SA	256,170		6,449,558
# * W	Biocartis Group NV	227,423		192,690
#	bpost SA	371,051		1,988,703
# *	Cie d’Entreprises CFE	49,898		476,349
	Deceuninck NV	480,813		894,092
*	Deme Group NV	49,898		5,171,556
	D’ieteren Group	126,086		17,765,564
	Econocom Group SA	727,792		1,804,614
	Elia Group SA	91,668		10,786,681
	Etablissements Franz Colruyt NV	116,932		2,570,332
# *	Euronav NV	1,350,857		21,072,982
	EVS Broadcast Equipment SA	69,287		1,281,877
	Exmar NV	145,690		1,315,882
	Fagron	316,324		3,886,152
*	Galapagos NV	207,089		8,843,166
	Gimv NV	126,391		5,426,490

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
BELGIUM — (Continued)
*	Greenyard NV		2,890	$	19,049
#	Immobel SA		23,226		1,013,564
	Ion Beam Applications		136,652		1,607,558
	Jensen-Group NV		20,961		572,658
*	Kinepolis Group NV		94,932		3,518,293
#	Lotus Bakeries NV		2,011		10,297,851
# *	MDxHealth SA		69,016		45,795
	Melexis NV		122,609		8,294,792
# *	Ontex Group NV		391,988		2,105,111
	Picanol		19,584		1,323,884
	Proximus SADP		807,234		8,369,455
	Recticel SA		306,705		4,023,748
#	Roularta Media Group NV		19,318		317,483
	Shurgard Self Storage SA		55,563		2,258,893
	Sipef NV		38,999		2,056,480
	Telenet Group Holding NV		243,024		3,341,238
	TER Beke SA		3,765		327,959
*	Tessenderlo Group SA		205,166		6,030,175
	Van de Velde NV		47,376		1,518,886
	VGP NV		24,918		2,376,711
	Viohalco SA		498,361		1,639,567

TOTAL BELGIUM					187,583,820

CANADA — (0.1%)
*	International Petroleum Corp.		409,767		3,282,276

DENMARK — (6.3%)
*	ALK-Abello AS		918,859		14,481,014
	Alm Brand AS		5,816,051		7,105,769
*	Asetek AS		19,672		21,507
# *	Bang & Olufsen AS		635,976		756,683
	BankNordik P/F		10,800		167,500
# *	Bavarian Nordic AS		457,765		13,290,272
# *	Better Collective AS		79,678		1,005,701
# *	Brodrene Hartmann AS		16,148		459,977
*	Cadeler AS		63,427		194,732
#	cBrain AS		18,289		309,904
	Chemometec AS		81,365		6,154,449
#	Columbus AS		490,087		427,977
	D/S Norden AS		203,501		8,584,943
	Dfds AS		260,309		6,757,818
#	Djurslands Bank AS		6,232		257,977
*	Drilling Company of 1972 AS		95,675		4,566,878
	FLSmidth & Co. AS		319,467		6,919,098
	Fluegger Group AS		4,198		227,309
	GN Store Nord AS		154,481		2,705,956
	GronlandsBANKEN AS		1,125		88,224
	H Lundbeck AS		1,391,862		4,448,677
*	H Lundbeck AS, Class A		14,791		43,949
*	H+H International AS, Class B		131,547		1,721,632
*	Harboes Bryggeri AS, Class B		5,094		44,038
# *	ISS AS		927,711		14,301,773
	Jeudan AS		40,046		1,367,191
*	Jyske Bank AS		445,581		23,189,123
	Lan & Spar Bank		4,895		419,892
	Matas AS		287,314		2,546,815
# * W	Netcompany Group AS		70,537		2,358,288
*	Nilfisk Holding AS		154,895		2,682,949
*	NKT AS		285,928		13,499,256

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
DENMARK — (Continued)
# * W	NNIT AS		71,567	$	495,087
	North Media AS		5,372		47,029
# *	NTG Nordic Transport Group AS, Class A		13,802		342,542
*	Parken Sport & Entertainment AS		13,669		131,792
	Per Aarsleff Holding AS		134,378		3,294,364
	Ringkjoebing Landbobank AS		197,936		20,987,144
	Rockwool AS, Class A		421		66,801
	Rockwool AS, Class B		12,994		2,049,644
	Royal Unibrew AS		312,072		20,220,993
# *	RTX AS		54,444		823,557
W	Scandinavian Tobacco Group AS, Class A		455,260		6,604,741
	Schouw & Co. AS		95,182		5,553,187
	SimCorp AS		257,158		14,473,314
	Solar AS, Class B		42,715		2,795,893
	SP Group AS		4,788		131,850
	Spar Nord Bank AS		609,820		6,805,434
	Sparekassen Sjaelland-Fyn AS		1,651		33,224
	Sydbank AS		464,342		12,717,277
	TCM Group AS		2,578		22,340
# *	Tivoli AS		9,878		912,027
	Topdanmark AS		399,560		18,683,982
	UIE PLC		103,360		2,578,422
*	Zealand Pharma AS		217,874		4,948,934

TOTAL DENMARK					265,826,849

FINLAND — (5.3%)
	Aktia Bank Oyj		344,733		3,256,903
#	Alandsbanken Abp, Class B		23,036		705,164
	Alma Media Oyj		133,889		1,041,186
	Apetit Oyj		21,105		208,662
	Aspo Oyj		106,324		767,742
#	Atria Oyj		98,413		858,102
#	Bittium Oyj		204,447		743,289
	Cargotec Oyj, Class B		269,125		8,128,133
	Caverion Oyj		645,461		2,705,325
#	Citycon Oyj		452,512		2,830,389
	Digia Oyj		85,054		489,395
# W	Enento Group Oyj		4,290		88,363
# *	Finnair Oyj		4,568,940		1,582,142
#	Fiskars Oyj Abp		215,530		3,125,575
*	F-Secure Oyj		730,842		1,755,225
	Glaston OYJ ABP		9,217		7,991
#	Harvia Oyj		70,873		964,647
#	HKScan Oyj, Class A		234,984		227,579
	Huhtamaki Oyj		643,085		20,451,954
	Ilkka Oyj		58,887		195,302
#	Kamux Corp.		59,097		304,770
	Kemira Oyj		751,311		8,325,059
	Kojamo Oyj		622,080		8,011,782
	Konecranes Oyj		406,382		8,073,802
#	Lassila & Tikanoja Oyj		219,184		2,136,873
	Marimekko Oyj		32,944		279,420
	Metsa Board Oyj, Class B		1,216,871		8,845,127
	Metso Outotec Oyj		182,863		1,212,669
*	Multitude SE		31,745		68,367
	Musti Group Oyj		68,620		1,191,614
	Nokian Renkaat Oyj		804,384		7,743,392
	Olvi Oyj, Class A		99,753		3,076,718
	Oma Saastopankki Oyj		8,486		144,676

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
FINLAND — (Continued)
	Oriola Oyj, Class A		6,054	$	10,922
	Oriola Oyj, Class B		880,807		1,539,980
	Orion Oyj, Class B		719,045		30,277,150
	Outokumpu Oyj		2,443,351		8,367,088
	Pihlajalinna Oyj		80,774		730,408
#	Ponsse Oyj		71,199		1,721,671
# *	QT Group Oyj		56,665		2,147,854
	Raisio Oyj, Class V		985,362		1,815,919
	Rapala VMC Oyj		116,693		502,556
	Revenio Group Oyj		141,280		5,242,872
# W	Rovio Entertainment Oyj		42,808		238,005
	Sanoma Oyj		722,281		8,660,550
	Taaleri Oyj		8,120		72,804
#	Talenom Oyj		7,120		61,010
	Teleste Oyj		52,966		171,404
W	Terveystalo Oyj		139,213		1,124,097
	TietoEVRY Oyj		552,526		12,502,498
#	Tokmanni Group Corp.		348,970		3,805,962
	Uponor Oyj		391,564		5,145,720
	Vaisala Oyj, Class A		125,217		4,584,910
	Valmet Oyj		1,009,230		20,402,814
#	Verkkokauppa.com Oyj		13,945		41,635
# *	Viking Line Abp		11,073		133,950
#	Wartsila OYJ Abp		1,387,620		8,863,993
# *	WithSecure Oyj		730,842		1,147,629
#	YIT Oyj		1,226,667		3,438,562

TOTAL FINLAND					222,299,300

FRANCE — (10.1%)
	ABC arbitrage		185,857		1,166,161
*	Air France-KLM		1,207,794		1,521,053
	AKWEL		68,408		979,960
# W	ALD SA		123,912		1,142,205
	Altamir		136,094		3,043,738
	Alten SA		122,507		13,462,272
	Assystem SA		61,561		2,121,623
# *	Atos SE		337,963		2,671,719
	Aubay		52,444		2,234,517
#	Axway Software SA		38,973		646,532
#	Bastide le Confort Medical		18,680		522,287
	Beneteau SA		251,906		2,585,998
#	Bigben Interactive		101,428		1,035,298
	Boiron SA		38,341		1,660,624
#	Bonduelle SCA		104,339		1,154,210
* ††	Bourbon Corp.		28,851		0
	Burelle SA		833		369,954
# *	Casino Guichard Perrachon SA		265,777		2,486,215
	Catana Group		47,853		258,065
#	Catering International Services		12,144		103,256
#	Cegedim SA		41,911		582,307
*	CGG SA		4,492,509		3,121,425
#	Chargeurs SA		144,516		1,665,640
*	Cie des Alpes		137,830		1,659,222
	Cie Plastic Omnium SA		411,439		5,394,383
# *	Claranova SE		66,462		173,480
*	Coface SA		765,331		7,313,477
	Derichebourg SA		739,624		2,947,073
*	Ekinops SAS		7,393		45,440
	Electricite de Strasbourg SA		21,112		1,879,033

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
FRANCE — (Continued)
# * W	Elior Group SA		767,831	$	1,399,621
	Elis SA		1,251,812		12,621,040
	Equasens		8,599		510,563
	Eramet SA		79,089		6,225,180
# *	Esso SA Francaise		4,117		179,987
	Etablissements Maurel et Prom SA		385,475		1,501,409
	Eurazeo SE		95,593		4,988,176
	Eutelsat Communications SA		1,264,009		9,763,472
	Exel Industries, Class A		10,459		358,771
*	Faurecia SE		784,980		8,497,263
	Fnac Darty SA		96,249		2,660,401
*	Gaumont SA		10,715		1,059,633
	Gaztransport Et Technigaz SA		161,171		17,771,262
#	GEA		2,433		190,363
*	Genfit		11,113		41,175
*	GL Events		58,364		849,664
	Groupe Crit		22,187		1,215,220
*	Groupe Gorge SA		4,320		71,150
	Groupe SFPI		21,754		44,627
	Guerbet		41,961		663,911
#	Guillemot Corp.		2,527		29,858
#	Haulotte Group SA		73,020		189,860
	HEXAOM		15,908		260,987
*	ID Logistics Group		14,970		3,677,829
	Imerys SA		231,218		6,974,485
	Infotel SA		637		29,863
# *	Innate Pharma SA		15,558		31,749
	IPSOS		296,328		13,242,649
	Jacquet Metals SACA		93,637		1,165,641
*	JCDecaux SA		271,301		3,183,273
#	Kaufman & Broad SA		123,411		2,418,414
	Korian SA		474,465		4,835,758
	Laurent-Perrier		13,997		1,318,477
#	Lectra		150,063		4,156,768
	Linedata Services		16,071		546,406
	LISI		124,665		2,180,813
#	LNA Sante SA		33,206		940,559
# W	Maisons du Monde SA		178,143		1,399,375
	Manitou BF SA		69,984		1,121,404
	Manutan International		15,102		890,618
	Mersen SA		128,079		3,546,951
	Metropole Television SA		253,936		3,065,726
# *	Nacon SA		44,739		178,792
# W	Neoen SA		24,981		832,509
	Nexans SA		198,522		17,672,041
	Nexity SA		309,173		6,276,694
# *	Nicox		145,865		245,420
	NRJ Group		87,189		536,724
#	Oeneo SA		128,172		1,853,556
*	OL Groupe SA		10,735		29,651
# *	Onxeo SA		48,958		11,207
# *	Orpea SA		45,620		498,247
#	Plastiques Du Val De Loire		14,341		50,928
*	Prodways Group SA		6,480		20,258
	Quadient SA		220,547		3,052,604
# *	Rallye SA		6,989		18,202
# * ††	Recylex SA		102,008		34,641
	Rexel SA		1,687,054		25,283,464
	Robertet SA		1,340		1,074,660

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
FRANCE — (Continued)
	Rothschild & Co.		141,560	$	4,627,305
	Rubis SCA		601,544		12,518,237
#	Samse SA		7,930		1,310,469
	Savencia SA		35,032		1,749,634
	SCOR SE		685,317		9,907,885
	SEB SA		11,233		706,565
	Seche Environnement SA		21,328		1,584,353
	SES SA		1,742,482		9,543,907
* W	SMCP SA		71,339		356,596
	Societe BIC SA		178,902		11,347,882
*	Societe des Bains de Mer et du Cercle des Etrangers a Monaco		37,677		3,118,386
	Societe pour l’Informatique Industrielle		56,188		2,362,745
*	SOITEC		134,940		15,407,925
# *	Solocal Group		681,417		516,188
	Somfy SA		88,329		8,186,076
	Sopra Steria Group SACA		120,286		15,218,276
	SPIE SA		887,677		18,593,058
# * W	SRP Groupe SA		56,827		66,493
	Stef SA		25,714		1,884,555
	Sword Group		37,202		1,324,488
	Synergie SE		67,143		1,567,026
	Technicolor Creative Studios SA		81,942		156,599
	Technip Energies NV		356,282		4,037,659
#	Television Francaise 1		412,012		2,353,744
#	TFF Group		9,347		309,114
	Thermador Groupe		37,127		2,468,561
#	Tikehau Capital SCA		30,080		727,878
	Totalenergies EP Gabon		4,026		590,545
	Trigano SA		62,717		5,507,099
*	Ubisoft Entertainment SA		240,260		6,602,950
#	Union Financiere de France BQE SA		18,515		231,965
	Valeo SA		674,236		10,187,609
*	Vallourec SA		577,711		5,536,063
*	Vantiva SA		81,942		82,030
W	Verallia SA		186,585		4,194,761
#	Vetoquinol SA		15,514		1,213,121
	Vicat SA		115,287		2,589,108
	VIEL & Cie SA		156,945		872,089
	Vilmorin & Cie SA		35,845		1,403,269
	Virbac SA		28,641		7,450,122
# *	Voltalia SA		10,574		185,375
	Vranken-Pommery Monopole SA		16,787		264,591
	Wavestone		9,891		426,099
* W	X-Fab Silicon Foundries SE		168,469		834,257
*	Xilam Animation SA		415		13,018

TOTAL FRANCE					427,572,791

GERMANY — (13.3%)
	1&1 AG		253,564		3,359,134
	7C Solarparken AG		139,107		630,372
*	Aareal Bank AG		523,741		16,514,628
	Adesso SE		7,240		728,008
# * W	ADLER Group SA		14,952		30,396
	AIXTRON SE		405,671		9,758,126
	All for One Group SE		4,503		196,740
	Allgeier SE		58,776		1,542,331
	Amadeus Fire AG		10,417		850,322
#	Aroundtown SA		432,156		946,293
	Atoss Software AG		16,166		1,801,796

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
GERMANY — (Continued)
	Aurubis AG		287,683	$	15,018,398
# * W	Auto1 Group SE		4,816		30,110
#	Basler AG		108,156		2,456,470
# *	Bauer AG		99,166		620,702
#	BayWa AG		105,190		4,201,522
	BayWa AG		124		6,271
#	Bechtle AG		79,895		2,872,135
W	Befesa SA		88,473		2,684,921
	Bertrandt AG		38,449		1,255,742
# *	bet-at-home.com AG		21,522		93,152
*	Bijou Brigitte AG		23,422		706,618
#	Bilfinger SE		207,655		5,198,164
# *	Borussia Dortmund GmbH & Co. KGaA		665,682		2,154,407
	CANCOM SE		253,430		5,980,142
#	CECONOMY AG		1,120,535		1,301,846
	CENIT AG		57,781		728,668
	Cewe Stiftung & Co. KGAA		45,952		3,337,717
	CompuGroup Medical SE & Co. KgaA		192,725		6,648,707
	CropEnergies AG		187,944		2,254,558
*	CTS Eventim AG & Co. KGaA		103,611		4,262,751
	Data Modul AG Produktion Und Vertrieb Von Elektronischen Systemen		11,455		593,664
	Dermapharm Holding SE		78,722		2,855,137
#	Deutsche Beteiligungs AG		115,972		2,441,373
W	Deutsche Pfandbriefbank AG		1,147,894		7,899,681
	Deutz AG		1,013,867		3,139,156
	DIC Asset AG		383,365		2,902,508
	DMG Mori AG		4,496		180,870
#	Dr Hoenle AG		35,520		501,925
	Draegerwerk AG & Co. KGaA		20,476		754,028
#	Duerr AG		393,605		8,184,547
W	DWS Group GmbH & Co. KGaA		4,604		109,595
#	Eckert & Ziegler Strahlen- und Medizintechnik AG		102,697		3,411,284
	EDAG Engineering Group AG		51,353		506,546
	Elmos Semiconductor SE		7,537		283,794
	ElringKlinger AG		192,671		1,106,499
	Encavis AG		489,249		8,744,302
#	Energiekontor AG		14,122		1,150,851
*	Evotec SE		7,644		132,897
	Fabasoft AG		509		8,140
#	Fielmann AG		154,321		4,952,634
# *	flatexDEGIRO AG		93,420		831,597
*	Fraport AG Frankfurt Airport Services Worldwide		208,969		7,514,241
	Freenet AG		1,042,536		19,757,552
	Fuchs Petrolub SE		115,255		2,539,776
	GEA Group AG		162,315		5,252,993
	Gerresheimer AG		240,843		11,759,361
	Gesco AG		55,404		1,185,925
	GFT Technologies SE		168,983		5,028,687
*	GK Software SE		581		61,831
*	Global Fashion Group SA		76,275		83,138
#	Grand City Properties SA		814,875		8,074,691
#	GRENKE AG		9,184		167,159
*	H&R GmbH & Co. KGaA		71,674		396,285
	Hamburger Hafen und Logistik AG		189,581		2,060,612
	Hawesko Holding AG		313		10,590
# *	Heidelberger Druckmaschinen AG		1,919,276		2,158,496
# *	HelloFresh SE		125,989		2,637,190
	Hensoldt AG		94,204		1,880,820
*	Highlight Communications AG		98,406		361,095

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
GERMANY — (Continued)
	Hochtief AG		45,150	$	2,137,199
	Hornbach Holding AG & Co. KGaA		56,348		3,534,068
	HUGO BOSS AG		426,713		19,868,105
# *	Hypoport SE		7,011		618,850
	Indus Holding AG		138,578		2,461,286
W	Instone Real Estate Group SE		41,523		343,285
	IVU Traffic Technologies AG		51,403		635,451
	Jenoptik AG		405,384		7,980,259
# W	JOST Werke AG		7,900		275,440
	K&S AG		1,430,163		27,082,990
	KION Group AG		56,863		1,088,992
	Kloeckner & Co. SE		506,896		3,867,305
#	Knaus Tabbert AG		1,753		45,833
# *	Koenig & Bauer AG		89,315		986,554
#	Kontron AG		346,499		4,892,685
	Krones AG		112,799		9,912,847
	KSB SE & Co. KGaA		3,293		1,127,930
	KWS Saat SE & Co. KGaA		83,735		4,625,621
	Lanxess AG		577,941		16,819,151
	LEG Immobilien SE		29,040		1,733,386
#	Leifheit AG		60,643		788,963
# *	Leoni AG		176,283		1,054,493
# *	Manz AG		25,896		642,316
*	Mediclin AG		82,946		249,644
*	Medigene AG		116,971		248,649
*	METRO AG		779,886		5,436,585
	MLP SE		440,536		2,241,878
# *	Nagarro SE		61,364		5,391,360
#	New Work SE		20,199		2,416,097
	Nexus AG		99,836		4,658,230
# *	Nordex SE		967,673		7,624,904
	Norma Group SE		219,343		2,954,271
	OHB SE		38,571		1,143,387
	Patrizia SE		348,340		3,598,277
	Pfeiffer Vacuum Technology AG		48,041		5,920,513
#	PNE AG		491,579		8,496,257
	Progress-Werk Oberkirch AG		8,558		197,837
#	ProSiebenSat.1 Media SE		1,391,977		9,862,095
#	PSI Software AG		70,343		1,340,117
*	PVA TePla AG		86,836		1,256,800
*	q.beyond AG		765,281		567,027
*	R Stahl AG		14,952		170,732
	Rational AG		40		19,373
	Rheinmetall AG		211,394		32,547,796
	SAF-Holland SE		337,211		2,019,772
#	Salzgitter AG		264,670		5,011,913
	Schloss Wachenheim AG		6,929		113,502
# W	Scout24 SE		302,097		15,138,200
	Secunet Security Networks AG		8,338		1,488,357
# *	SGL Carbon SE		337,757		1,957,433
	Siltronic AG		146,283		8,249,694
	Sixt SE		96,820		7,701,139
*	SMA Solar Technology AG		59,742		2,770,649
*	SNP Schneider-Neureither & Partner SE		3,170		47,608
	Softing AG		14,914		80,229
#	Software AG		393,922		8,981,388
	Stabilus SE		175,916		7,734,374
	STRATEC SE		33,736		2,681,003
	Stroeer SE & Co. KGaA		203,324		7,658,280

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
GERMANY — (Continued)
	Suedzucker AG		526,208	$	6,360,665
#	SUESS MicroTec SE		148,771		1,430,898
	Surteco Group SE		47,139		874,677
#	Synlab AG		13,980		172,876
#	TAG Immobilien AG		1,209,596		9,653,233
#	Takkt AG		250,065		2,306,583
# * W	TeamViewer AG		509,264		3,930,250
	Technotrans SE		46,673		1,144,164
# *	thyssenkrupp AG		1,876,072		7,948,885
	Traffic Systems SE		37,280		619,535
	United Internet AG		61,137		1,142,886
# *	va-Q-tec AG		2,370		23,111
#	Varta AG		24,311		689,368
	VERBIO Vereinigte BioEnergie AG		169,400		9,995,816
*	Vitesco Technologies Group AG, Class A		10,364		503,866
	Vossloh AG		76,106		2,308,393
	Wacker Chemie AG		16,328		1,678,618
	Wacker Neuson SE		227,890		2,975,737
#	Washtec AG		86,629		2,736,827
# *	Westwing Group SE		41,567		226,201
	Wuestenrot & Wuerttembergische AG		119,837		1,595,262
	Zeal Network SE		53,966		1,388,013

TOTAL GERMANY					559,996,860

GREECE — (0.0%)
* ††	Alfa Alfa Energy SA		3,810		0
* ††	Neorion Holdings SA		14,991		0

IRELAND — (1.5%)
	AIB Group PLC		885,140		2,154,075
	Bank of Ireland Group PLC		6,339,548		40,661,759
	Cairn Homes PLC		1,908,875		1,544,201
*	Dalata Hotel Group PLC		287,904		795,778
*	Datalex PLC		37		20
	FBD Holdings PLC		142,812		1,407,549
	Glanbia PLC		1,151,741		13,277,513
* W	Glenveagh Properties PLC		957,454		833,113
	Irish Continental Group PLC		820,853		3,130,362
*	Permanent TSB Group Holdings PLC		268,168		411,677

TOTAL IRELAND					64,216,047

ISRAEL — (3.9%)
#	Adgar Investment & Development Ltd.		105,459		187,201
	Afcon Holdings Ltd.		3,064		152,953
	AFI Properties Ltd.		100,052		3,563,475
	Africa Israel Residences Ltd.		13,924		603,108
*	Airport City Ltd.		138,455		2,190,585
# *	Allot Ltd.		189,485		720,183
#	Alrov Properties & Lodgings Ltd.		49,832		2,987,089
	Arad Ltd.		28,474		347,724
	Ashtrom Group Ltd.		119,017		2,491,472
	AudioCodes Ltd.		25,159		543,692
	Aura Investments Ltd.		334,602		574,252
	Automatic Bank Services Ltd.		11,760		51,098
*	Avgol Industries 1953 Ltd.		468,925		291,246
	Azorim-Investment Development & Construction Co. Ltd.		575,905		1,985,531
# *	Bet Shemesh Engines Holdings 1997 Ltd.		30,236		713,621
	Blue Square Real Estate Ltd.		37,333		2,261,902

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
ISRAEL — (Continued)
*	Brack Capital Properties NV		18,347	$	2,110,937
# *	Brainsway Ltd.		17,217		32,480
*	Camtek Ltd.		23,329		539,791
	Carasso Motors Ltd.		132,164		723,032
*	Cellcom Israel Ltd.		497,683		2,524,334
*	Ceragon Networks Ltd.		266,244		489,889
*	Clal Insurance Enterprises Holdings Ltd.		321,004		5,427,319
# *	Compugen Ltd.		113,943		85,591
#	Danel Adir Yeoshua Ltd.		24,002		2,510,037
#	Delek Automotive Systems Ltd.		260,248		3,513,538
*	Delek Group Ltd.		44,438		7,015,531
	Delta Galil Industries Ltd.		75,453		3,485,910
	Dor Alon Energy in Israel 1988 Ltd.		17,532		579,907
	Duniec Brothers Ltd.		1,364		72,746
#	Electra Consumer Products 1970 Ltd.		43,403		1,574,659
	Electra Ltd.		8,553		4,785,229
	Electra Real Estate Ltd.		44,441		593,407
*	Ellomay Capital Ltd.		2,597		53,285
	Energix-Renewable Energies Ltd.		79,976		310,573
# *	Enlight Renewable Energy Ltd.		2,452,916		5,169,628
# *	Equital Ltd.		130,022		3,787,664
*	Fattal Holdings 1998 Ltd.		6,068		586,411
	FMS Enterprises Migun Ltd.		19,186		603,068
	Formula Systems 1985 Ltd.		63,943		5,193,098
	Formula Systems 1985 Ltd., Sponsored ADR		640		51,712
	Fox Wizel Ltd.		48,354		5,475,700
	Gav-Yam Lands Corp. Ltd.		423,939		3,487,842
# *	Gilat Satellite Networks Ltd.		236,247		1,232,027
# *	Hagag Group Real Estate Development		16,780		88,824
	Harel Insurance Investments & Financial Services Ltd.		454,879		3,998,440
	Hilan Ltd.		106,225		5,673,728
	IDI Insurance Co. Ltd.		47,574		1,284,220
	IES Holdings Ltd.		1,354		101,016
	Ilex Medical Ltd.		4,067		93,165
#	Infinya Ltd.		21,885		2,029,595
	Inrom Construction Industries Ltd.		367,899		1,451,123
	Isracard Ltd.		144,925		397,260
#	Israel Canada T.R Ltd.		220,206		729,944
#	Israel Land Development—Urban Renewal Ltd.		76,173		1,042,182
	Isras Investment Co. Ltd.		5,893		1,077,665
	Issta Lines Ltd.		16,402		423,049
# *	Kamada Ltd.		212,977		942,224
	Kardan Real Estate Enterprise & Development Ltd.		24,718		25,375
	Kenon Holdings Ltd.		92,992		3,164,850
	Kerur Holdings Ltd.		33,018		762,608
	Klil Industries Ltd.		5,696		462,564
	Lahav L.R. Real Estate Ltd.		9,407		10,730
	Levinstein Properties Ltd.		377		9,529
	M Yochananof & Sons Ltd.		5,479		312,718
	Magic Software Enterprises Ltd.		152,541		2,361,919
#	Malam — Team Ltd.		10,222		223,198
	Matrix IT Ltd.		233,856		5,287,815
	Max Stock Ltd.		7,391		10,740
#	Maytronics Ltd.		165,369		2,039,088
#	Mediterranean Towers Ltd.		434,044		1,243,813
	Mega Or Holdings Ltd.		85,860		2,491,400
*	Mehadrin Ltd.		1,666		68,028
	Meitav Investments House Ltd.		132,413		494,510
*	Menora Mivtachim Holdings Ltd.		186,995		3,580,740

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
ISRAEL — (Continued)
	Meshulam Levinstein Contracting & Engineering Ltd.		310	$	23,708
	Migdal Insurance & Financial Holdings Ltd.		2,008,915		2,669,209
#	Mivtach Shamir Holdings Ltd.		30,255		712,069
	Mizrahi Tefahot Bank Ltd.		1		36
# *	Naphtha Israel Petroleum Corp. Ltd.		244,337		1,276,880
	Nawi Brothers Ltd.		68,328		504,009
*	Neto Malinda Trading Ltd.		4,663		143,793
	Neto ME Holdings Ltd.		12,167		519,200
*	Nova Ltd.		7,818		671,446
	Novolog Ltd.		200,415		165,982
*	NR Spuntech Industries Ltd.		76,176		87,632
	Oil Refineries Ltd.		12,221,338		4,169,364
	One Software Technologies Ltd.		48,820		737,330
*	OPC Energy Ltd.		76,073		845,977
	Palram Industries 1990 Ltd.		1,112		12,090
*	Partner Communications Co. Ltd.		859,128		6,190,910
*	Paz Oil Co. Ltd.		61,942		6,769,498
*	Perion Network Ltd.		101,332		1,936,441
#	Plasson Industries Ltd.		21,191		1,007,600
	Prashkovsky Investments & Construction Ltd.		10,063		284,046
# *	Priortech Ltd.		9,623		199,360
#	Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.		52,258		3,744,926
	Retailors Ltd.		1,167		24,077
#	Scope Metals Group Ltd.		47,147		2,047,921
	Shufersal Ltd.		55,211		345,208
	Summit Real Estate Holdings Ltd.		222,691		3,113,309
	Suny Cellular Communication Ltd.		312,529		157,805
	Tadiran Group Ltd.		16,763		2,352,199
# W	Tamar Petroleum Ltd.		38,322		127,626
#	Tel Aviv Stock Exchange Ltd.		21,464		110,812
*	Tera Light Ltd.		87,259		155,281
#	Tiv Taam Holdings 1 Ltd.		39,749		84,841
*	Victory Supermarket Chain Ltd.		5,213		69,778
	YH Dimri Construction & Development Ltd.		17,878		1,208,528

TOTAL ISRAEL					166,031,428

ITALY — (8.1%)
	A2A SpA		10,137,181		9,847,806
	ACEA SpA		380,238		4,128,198
*	Aeffe SpA		177,250		191,793
W	Anima Holding SpA		2,011,541		5,709,598
	Aquafil SpA		83,333		447,019
	Arnoldo Mondadori Editore SpA		1,122,764		1,678,365
	Ascopiave SpA		477,634		985,321
*	Autogrill SpA		102,824		631,308
	Autostrade Meridionali SpA		3,917		137,866
#	Avio SpA		110,432		990,412
	Azimut Holding SpA		813,168		11,598,445
#	Banca Generali SpA		462,600		12,829,568
	Banca IFIS SpA		251,013		2,771,690
	Banca Mediolanum SpA		891,514		5,582,784
	Banca Popolare di Sondrio SPA		3,275,345		10,814,687
	Banca Profilo SpA		1,711,765		319,500
W	Banca Sistema SpA		414,926		558,615
	Banco BPM SpA		10,252,032		26,807,205
	Banco di Desio e della Brianza SpA		241,954		645,894
	Be Shaping The Future SpA		533,191		1,788,010
W	BFF Bank SpA		706,708		4,693,931
	Biesse SpA		11,036		122,161

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
ITALY — (Continued)
	BPER Banca		7,525,929	$	11,534,234
	Brembo SpA		860,785		7,100,878
	Brunello Cucinelli SpA		248,717		12,028,230
	Buzzi Unicem SpA		651,090		9,210,376
	Cairo Communication SpA		601,468		826,680
W	Carel Industries SpA		36,488		679,024
	Cementir Holding NV		361,114		1,967,710
*	CIR SpA-Compagnie Industriali		2,423,159		936,217
#	Credito Emiliano SpA		616,798		3,478,776
*	d’Amico International Shipping SA		2,548,506		591,534
	Danieli & C Officine Meccaniche SpA		98,559		1,175,174
#	Danieli & C Officine Meccaniche SpA		104,538		1,768,733
	Datalogic SpA		16,509		104,650
	De’ Longhi SpA		398,689		5,827,511
	DeA Capital SpA		697,876		684,067
#	Digital Bros SpA		37,586		824,760
W	doValue SpA		80,786		425,650
*	Elica SpA		166,709		390,911
	Emak SpA		565,182		492,358
* W	Enav SpA		335,472		1,220,726
	ERG SpA		402,758		11,086,939
	Esprinet SpA		227,113		1,376,843
*	Eurotech SpA		207,209		571,438
#	Fila SpA		145,425		993,794
# *	Fincantieri SpA		3,504,948		1,587,662
# * ††	Finmatica SpA		5,960		0
*	FNM SpA		1,412,345		584,161
	Gefran SpA		35,925		256,904
# *	Geox SpA		356,231		252,080
	GPI SpA		16,644		210,046
	Gruppo MutuiOnline SpA		172,390		3,373,270
# * W	GVS SpA		11,552		67,465
	Hera SpA		5,590,996		11,880,178
	IMMSI SpA		1,372,199		497,375
	Interpump Group SpA		52,738		1,705,652
	Iren SpA		4,667,503		6,153,012
	Italgas SpA		3,535,826		16,419,495
	Italmobiliare SpA		77,432		1,776,119
*	Iveco Group NV		87,854		414,287
	IVS Group SA		140,888		516,027
# *	Juventus Football Club SpA		3,442,187		967,855
*	KME Group SpA		1,885,608		900,470
	Leonardo SpA		2,965,480		20,996,783
	LU-VE SpA		5,064		104,673
#	Maire Tecnimont SpA		1,261,206		2,955,109
# * ††	Mariella Burani Fashion Group SpA		22,744		0
	MFE-MediaForEurope NV, Class A		7,493,411		2,194,686
#	MFE-MediaForEurope NV, Class B		3,057,306		1,345,485
*	Newlat Food SpA		22,549		110,014
	Openjobmetis SpA agenzia per il lavoro		63,079		463,319
	Orsero SpA		19,188		274,926
# W	OVS SpA		1,486,934		2,461,352
	Pharmanutra SpA		4,175		269,382
	Piaggio & C SpA		1,327,755		2,673,469
W	Pirelli & C SpA		2,538,628		8,268,701
#	Prima Industrie SpA		33,228		798,978
W	RAI Way SpA		618,828		2,824,511
	Reply SpA		147,173		15,329,370
	Rizzoli Corriere Della Sera Mediagroup SpA		956,821		615,652

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
ITALY — (Continued)
	Sabaf SpA		63,964	$	1,042,817
#	SAES Getters SpA		900		17,584
*	Safilo Group SpA		220,553		274,975
#	Salvatore Ferragamo SpA		170,677		2,395,062
	Sanlorenzo SpA/Ameglia		2,695		86,513
*	Saras SpA		4,182,418		3,976,104
	Sesa SpA		57,481		6,223,001
# *	Sogefi SpA		356,185		246,482
	SOL SpA		225,916		3,466,878
*	Spaxs SpA		218,758		1,472,600
	Tamburi Investment Partners SpA		858,326		5,502,490
# W	Technogym SpA		848,966		5,289,306
*	Telecom Italia SpA		4,998,718		924,597
# *	Tesmec SpA		313,747		36,098
	Tinexta SpA		138,460		2,562,509
# *	Tiscali SpA		25,776		15,369
# *	Tod’s SpA		69,081		2,813,289
*	TXT e-solutions SpA		73,775		806,455
# W	Unieuro SpA		145,452		1,453,306
	Unipol Gruppo SpA		3,175,802		12,334,713
	UnipolSai Assicurazioni SpA		42,994		89,166
#	Webuild SpA		1,307,308		1,593,032
	Wiit SpA		2,345		31,864
#	Zignago Vetro SpA		187,606		2,023,901

TOTAL ITALY					342,503,968

NETHERLANDS — (5.6%)
	Aalberts NV		686,131		22,376,804
	Acomo NV		40,189		734,324
*	AFC Ajax NV		13,955		164,276
* W	Alfen Beheer BV		63,967		5,857,894
	AMG Advanced Metallurgical Group NV		214,731		4,826,995
	APERAM SA		322,482		7,609,986
	Arcadis NV		533,103		17,350,521
	ASR Nederland NV		737,434		28,349,087
*	Avantium NV		12,128		38,092
W	B&S Group Sarl		10,048		44,191
# * W	Basic-Fit NV		294,493		8,842,894
	BE Semiconductor Industries NV		405,420		17,356,169
#	Beter Bed Holding NV		27,380		81,207
	Brunel International NV		155,477		1,297,419
	Corbion NV		390,957		9,725,410
W	Flow Traders		226,947		4,276,163
#	ForFarmers NV		214,677		495,857
*	Fugro NV		567,199		5,742,848
	Heijmans NV		167,350		1,558,938
*	Hunter Douglas NV		1,468		251,253
* W	Intertrust NV		472,154		9,033,832
	Kendrion NV		97,269		1,307,308
*	Koninklijke BAM Groep NV		1,821,442		4,475,173
	Koninklijke Vopak NV		305,260		5,554,105
* W	Lucas Bols NV		24,022		234,908
	Nedap NV		33,400		1,755,501
#	OCI NV		554,235		20,291,415
	Ordina NV		637,656		2,367,521
# *	Pharming Group NV		1,219,229		1,262,443
#	PostNL NV		3,793,338		6,345,981
	SBM Offshore NV		1,043,174		13,090,702
# * W	Shop Apotheke Europe NV		6,333		254,600

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
NETHERLANDS — (Continued)
#	SIF Holding NV		34,182	$	322,142
W	Signify NV		711,679		18,316,746
	Sligro Food Group NV		155,268		2,002,640
# * ††	SRH NV		705,718		0
	TKH Group NV		271,678		8,801,234
# *	TomTom NV		465,526		3,321,060
	Van Lanschot Kempen NV		158,577		3,052,577
*	Vivoryon Therapeutics NV		5,400		48,409

TOTAL NETHERLANDS					238,818,625

NORWAY — (2.3%)
	2020 Bulkers Ltd.		65,237		510,650
	ABG Sundal Collier Holding ASA		2,506,062		1,271,056
	AF Gruppen ASA		877		11,166
# *	Akastor ASA		805,820		639,157
# *	Aker BioMarine ASA		10,134		41,673
*	Aker Carbon Capture ASA		136,636		174,698
	Aker Solutions ASA		1,516,028		5,270,890
	American Shipping Co. ASA		255,057		819,636
*	ArcticZymes Technologies ASA		77,341		512,179
	Atea ASA		366,976		3,260,539
# *	Atlantic Sapphire ASA		67,633		68,444
W	Avance Gas Holding Ltd.		19,594		97,243
# *	Axactor ASA		839,168		416,366
	B2Holding ASA		1,548,196		1,062,188
	Belships ASA		332,823		414,727
*	Bergenbio ASA		51,404		29,181
	Bonheur ASA		144,049		4,083,178
	Borregaard ASA		468,125		5,526,632
	Bouvet ASA		66,121		330,142
# *	BW Energy Ltd.		352,705		697,775
W	BW LPG Ltd.		648,398		4,718,568
	BW Offshore Ltd.		753,331		1,584,342
*	Cloudberry Clean Energy ASA		19,690		20,910
# * W	Crayon Group Holding ASA		167,540		1,301,556
	DNO ASA		3,131,136		3,551,286
W	Elmera Group ASA		3,917		5,558
	Elopak ASA		6,452		11,535
W	Europris ASA		1,169,092		5,846,996
#	FLEX LNG Ltd.		217,648		6,917,552
#	Frontline Ltd.		475,587		5,236,968
#	Golden Ocean Group Ltd.		10,454		78,179
	Grieg Seafood ASA		350,555		2,371,062
	Hafnia Ltd.		262,985		1,070,066
# *	Hexagon Composites ASA		714,855		1,558,259
	Hunter Group ASA		384,083		76,624
# *	IDEX Biometrics ASA		1,011,211		69,976
# *	Kahoot! ASA		241,389		449,545
# W	Kid ASA		35,988		242,568
#	Kitron ASA		515,690		890,661
W	Klaveness Combination Carriers ASA		2,957		16,608
*	Komplett Bank ASA		33,724		15,745
*	Kongsberg Automotive ASA		4,586,574		910,781
*	LINK Mobility Group Holding ASA		51,820		32,598
*	Magnora ASA		118,220		235,646
*	Magseis Fairfield ASA		110,201		78,385
	Medistim ASA		2,163		41,160
#	MPC Container Ships ASA		1,639,898		2,734,479
W	Multiconsult ASA		2,534		30,784

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
NORWAY — (Continued)
*	Next Biometrics Group AS		61,890	$	22,101
# *	Nordic Nanovector ASA		376,386		38,854
* W	Norske Skog ASA		249,340		1,259,082
*	Northern Ocean Ltd.		60,674		50,575
*	Norway Royal Salmon ASA		93,951		1,281,001
*	Norwegian Air Shuttle ASA		751,099		500,720
*	Norwegian Energy Co. ASA		14,230		458,020
*	NRC Group ASA		38,228		61,870
*	Odfjell Drilling Ltd.		645,965		1,405,931
	Odfjell SE, Class A		140,676		809,525
*	Odfjell Technology Ltd.		97,767		198,088
	OKEA ASA		66,689		220,784
W	Okeanis Eco Tankers Corp.		16,989		232,516
	Olav Thon Eiendomsselskap ASA		75,802		1,251,291
	Otello Corp. ASA		27,272		20,764
*	Panoro Energy ASA		33,298		80,937
	Pareto Bank ASA		47,843		192,011
# *	PGS ASA		3,070,778		1,766,350
*	PhotoCure ASA		18,163		151,883
* W	poLight ASA		4,600		8,973
# *	Prosafe SE		6,125		100,394
	Protector Forsikring ASA		438,078		4,515,145
*	Q-Free ASA		32,883		18,003
# *	REC Silicon ASA		1,976,404		3,304,969
*	SD Standard ETC PLC		271,994		41,117
	Selvaag Bolig ASA		325,020		948,272
* W	Shelf Drilling Ltd.		124,843		175,890
*	Siem Offshore, Inc.		10,249		8,817
*	Solstad Offshore ASA		29,716		46,871
	Sparebank 1 Oestlandet		25,056		247,329
	SpareBank 1 Sorost-Norge		1,788		8,320
	Stolt-Nielsen Ltd.		192,640		3,823,904
	TGS ASA		286,682		3,503,929
	Treasure ASA		316,195		461,213
# *	Ultimovacs ASA		24,075		132,809
	Veidekke ASA		640,408		4,790,616
*	Volue ASA		168		455
	Wilh Wilhelmsen Holding ASA, Class A		68,304		1,221,978
# W	XXL ASA		787,885		322,366

TOTAL NORWAY					99,019,590

PORTUGAL — (0.9%)
#	Altri SGPS SA		520,559		2,628,626
#	Banco Comercial Portugues SA, Class R		50,126,117		5,964,204
* ††	Banco Espirito Santo SA		4,777,921		0
	Corticeira Amorim SGPS SA		116,151		1,033,725
#	CTT-Correios de Portugal SA		728,492		1,932,900
*	Greenvolt-Energias Renovaveis SA		125,818		1,061,686
#	Ibersol SGPS SA		52,494		269,636
#	Mota-Engil SGPS SA		641,747		662,432
	Navigator Co. SA		1,800,273		6,133,965
#	NOS SGPS SA		1,562,222		5,113,879
#	Novabase SGPS SA		72,649		303,902
	REN—Redes Energeticas Nacionais SGPS SA		2,950,023		6,974,810
	Sonae SGPS SA		6,829,681		5,508,545

TOTAL PORTUGAL					37,588,310

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SOUTH AFRICA — (0.0%)
# W	Scatec ASA		93,593	$	640,065

SPAIN — (5.7%)
	Acerinox SA		1,095,358		8,710,708
# * ††	Adveo Group International SA		84,445		0
W	Aedas Homes SA		27,692		393,717
	Alantra Partners SA		70,997		800,506
	Almirall SA		475,919		4,588,666
# *	Amper SA		6,893,962		996,296
	Applus Services SA		925,350		5,193,895
	Atresmedia Corp. de Medios de Comunicacion SA		574,350		1,475,830
	Azkoyen SA		67,253		379,050
	Banco de Sabadell SA		36,362,876		24,249,033
	Bankinter SA		4,326,671		24,293,719
# * ††	Caja de Ahorros del Mediterraneo		116,412		0
	Cia de Distribucion Integral Logista Holdings SA		429,838		7,833,327
#	CIE Automotive SA		376,909		7,804,504
	Construcciones y Auxiliar de Ferrocarriles SA		129,981		2,939,725
# *	Deoleo SA		37,749		8,585
*	Distribuidora Internacional de Alimentacion SA		3,729,910		43,387
#	Ebro Foods SA		526,136		7,663,161
*	eDreams ODIGEO SA		427,530		1,708,148
	Elecnor SA		200,108		1,976,773
#	Enagas SA		1,457,648		22,562,850
	Ence Energia y Celulosa SA		1,042,979		3,105,045
	Ercros SA		643,000		1,700,230
	Faes Farma SA		2,130,572		7,718,159
#	Fluidra SA		367,354		5,508,489
	Fomento de Construcciones y Contratas SA		381,903		3,086,710
W	Gestamp Automocion SA		762,851		2,263,097
W	Global Dominion Access SA		695,411		2,274,359
*	Grenergy Renovables SA		9,966		302,925
	Grupo Catalana Occidente SA		270,353		6,790,380
#	Grupo Empresarial San Jose SA		151,317		512,274
	Iberpapel Gestion SA		47,911		586,113
	Indra Sistemas SA		928,400		7,069,406
	Laboratorio Reig Jofre SA		14,851		32,921
	Laboratorios Farmaceuticos Rovi SA		125,881		5,409,846
#	Linea Directa Aseguradora SA Cia de Seguros y Reaseguros		3,862,215		3,641,937
#	Mapfre SA		3,059,999		4,739,094
*	Melia Hotels International SA		812,414		3,751,714
# W	Metrovacesa SA		25,204		153,093
	Miquel y Costas & Miquel SA		193,707		2,205,605
W	Neinor Homes SA		90,425		821,671
# *	Obrascon Huarte Lain SA		1,665,246		859,723
# *	Oryzon Genomics SA		35,547		72,703
#	Pharma Mar SA		35,266		1,867,671
	Prim SA		40,283		415,277
*	Promotora de Informaciones SA, Class A		1,330,083		510,784
# W	Prosegur Cash SA		445,278		276,400
	Prosegur Cia de Seguridad SA		1,211,235		1,835,645
*	Realia Business SA		1,667,905		1,545,947
	Renta 4 Banco SA		442		4,076
#	Sacyr SA		2,967,489		6,486,246
*	Solaria Energia y Medio Ambiente SA		519,113		8,164,790
# *	Soltec Power Holdings SA		28,469		118,484
# W	Talgo SA		598,613		1,452,619
# *	Tecnicas Reunidas SA		188,993		1,110,397
# *	Tubacex SA		738,150		1,407,465
# *	Tubos Reunidos SA		34,204		8,089

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SPAIN — (Continued)
W	Unicaja Banco SA		7,996,906	$	7,210,630
	Vidrala SA		123,392		7,181,440
	Viscofan SA		271,401		14,836,385
	Vocento SA		352,577		216,701

TOTAL SPAIN					240,876,420

SWEDEN — (5.9%)
W	AcadeMedia AB		448,737		1,945,493
#	AddLife AB, Class B		14,395		148,832
	AddNode Group AB, Class B		432,724		3,009,243
	AFRY AB		286,051		3,598,276
# W	Alimak Group AB		249,962		1,332,760
	Alligo AB, Class B		137,415		954,480
W	Ambea AB		196,916		689,230
*	Annehem Fastigheter AB, Class B		142,899		284,849
	AQ Group AB		1,510		29,133
*	Arise AB		102,189		546,736
	Arjo AB, Class B		1,033,502		3,789,701
#	Atrium Ljungberg AB, Class B		213,403		2,630,565
* W	Attendo AB		690,203		1,232,888
	Balco Group AB		979		4,824
	BE Group AB		3,385		24,427
	Beijer Alma AB		304,748		3,982,998
	Beijer Electronics Group AB		93,898		568,717
	Bergman & Beving AB		207,826		1,540,241
	Bergs Timber AB, Class B		6,227		19,076
	Besqab AB		21,962		198,837
	Betsson AB, Class B		893,660		5,216,812
*	BHG Group AB		351,076		449,174
	Bilia AB, Class A		588,495		6,712,294
	BioGaia AB, Class B		108,911		754,921
*	BioInvent International AB		39,595		168,959
	Biotage AB		377,166		5,621,554
	Bjorn Borg AB		13,009		26,821
	Bonava AB, Class B		519,931		1,214,415
# * W	Boozt AB		212,829		1,105,576
W	Bravida Holding AB		691,273		5,656,658
	Bufab AB		233,559		4,207,846
#	Bulten AB		115,761		552,296
	Bure Equity AB		324,485		5,302,236
	Byggmax Group AB		449,880		1,504,768
*	Careium AB		82,584		66,713
	Catella AB		89,746		299,324
	Catena AB		166,530		4,941,227
# *	Catena Media PLC		330,046		703,529
*	Cavotec SA		79,682		106,483
	Cellavision AB		38,088		866,657
	Cibus Nordic Real Estate AB		13,536		176,389
	Clas Ohlson AB, Class B		278,624		1,667,292
	Cloetta AB, Class B		1,836,581		2,903,283
*	Collector Bank AB		288,079		714,899
#	Concentric AB		346,253		5,565,535
W	Coor Service Management Holding AB		406,687		2,760,566
	Corem Property Group AB, Class B		3,839,342		2,887,472
	Dedicare AB, Class B		4,184		33,149
	Dios Fastigheter AB		782,055		4,933,417
# W	Dometic Group AB		27,906		143,107
*	Doro AB		162,545		217,014
*	Duni AB		217,519		1,239,471

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SWEDEN — (Continued)
# W	Dustin Group AB		511,987	$	2,018,337
	Eastnine AB		126,421		984,697
	Elanders AB, Class B		73,298		901,256
	Electrolux Professional AB, Class B		459,033		1,875,093
* W	Eltel AB		206,068		124,390
# *	Enea AB		104,284		681,255
#	Eolus Vind AB, Class B		37,209		391,697
	eWork Group AB		38,130		308,023
	Fagerhult AB		300,931		1,014,160
	FastPartner AB, Class A		19,405		100,990
	FastPartner AB, Class D		35		204
#	Fenix Outdoor International AG		19,605		1,392,038
# *	Fingerprint Cards AB, Class B		414,711		208,795
#	G5 Entertainment AB		41,569		704,907
	GARO AB		23,361		205,384
	Granges AB		830,363		5,325,014
	Hanza AB		30,446		107,601
#	Heba Fastighets AB, Class B		269,814		763,381
	Hexatronic Group AB		352,315		3,288,406
	HMS Networks AB		127,285		3,445,945
* W	Hoist Finance AB		379,338		949,226
*	Humana AB		135,681		591,910
*	IAR Systems Group AB		1,213		15,257
*	Immunovia AB		8,077		24,288
#	Instalco AB		492,997		1,976,609
	Inwido AB		455,135		3,579,191
	JM AB		431,178		5,964,448
# *	John Mattson Fastighetsforetagen AB		8,700		63,980
*	Karnov Group AB		83,905		409,763
# *	K-fast Holding AB		9,734		18,373
	Kindred Group PLC, SDR		271,612		2,035,321
	KNOW IT AB		179,639		3,593,623
#	Lagercrantz Group AB, Class B		1,101,807		9,645,144
	Lime Technologies AB		15,348		303,921
	Lindab International AB		639,607		7,133,214
	Loomis AB		388,741		9,581,263
*	Maha Energy AB		148,058		155,434
*	Medcap AB		6,064		103,526
	Meko AB		299,806		2,467,331
	Midsona AB, Class B		8,545		11,935
#	MIPS AB		58,142		1,725,955
	Modern Times Group MTG AB, Class B		604,885		3,997,677
*	Momentum Group AB		137,415		768,955
W	Munters Group AB		181,339		1,268,498
	Mycronic AB		436,033		5,257,184
#	NCAB Group AB		85,408		349,475
	NCC AB, Class B		428,640		3,084,387
	Nederman Holding AB		33,980		420,026
*	Net Insight AB, Class B		2,560,497		1,265,695
	New Wave Group AB, Class B		426,925		5,622,932
	Nilorngruppen AB, Class B		7,191		54,465
	Nobia AB		832,268		1,562,232
	Nolato AB, Class B		1,479,720		6,743,418
	Nordic Paper Holding AB		14,413		37,239
	Nordic Waterproofing Holding AB		83,900		1,124,829
*	Note AB		56,156		801,282
#	NP3 Fastigheter AB		178,739		2,635,352
	Nyfosa AB		1,209,815		6,985,359
	OEM International AB, Class B		296,140		1,517,739

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SWEDEN — (Continued)
#	Orron Energy AB		283,199	$	505,318
*	Ovzon AB		1,938		6,509
*	Pandox AB		29,924		316,815
	Platzer Fastigheter Holding AB, Class B		250,352		1,502,062
	Prevas AB, Class B		8,542		72,660
	Pricer AB, Class B		892,974		1,412,751
	Proact IT Group AB		191,163		1,362,962
	Profilgruppen AB, Class B		287		2,214
	Ratos AB, Class B		1,560,795		5,320,516
*	RaySearch Laboratories AB		160,684		685,914
	Rejlers AB		948		10,376
# W	Resurs Holding AB		1,114,807		2,047,625
#	Rottneros AB		672,020		821,475
# *	Scandi Standard AB		397,762		1,662,697
# * W	Scandic Hotels Group AB		978,372		2,798,210
*	Sdiptech AB, Class B		14,195		244,632
	Sectra AB, Class B		196,760		2,186,144
	Semcon AB		118,592		1,660,090
*	Sensys Gatso Group AB		3,512,360		329,811
	SkiStar AB		324,208		3,227,443
*	Solid Forsakring AB		86,686		350,164
*	Stendorren Fastigheter AB		5,750		88,911
*	Stillfront Group AB		458,631		979,792
	Systemair AB		360,836		1,632,704
	Tethys Oil AB		125,374		705,772
	TF Bank AB		5,604		71,231
*	Tobii AB		14,796		26,151
	Troax Group AB		227,770		3,212,519
	VBG Group AB, Class B		28,343		301,360
	Vitec Software Group AB, Class B		44,923		1,324,511
	Volati AB		5,223		46,005
	XANO Industri AB, Class B		5,023		46,971

TOTAL SWEDEN					247,901,507

SWITZERLAND — (17.2%)
	Adecco Group AG		213,881		5,903,023
	Allreal Holding AG		125,251		17,428,738
	ALSO Holding AG		46,851		6,941,912
*	Aluflexpack AG		721		13,025
*	ams-OSRAM AG		1,474,621		9,179,080
	APG SGA SA		9,203		1,561,156
	Arbonia AG		345,431		3,949,397
*	Aryzta AG		6,500,102		6,503,574
#	Ascom Holding AG		200,120		1,201,177
#	Autoneum Holding AG		23,551		1,968,906
	Baloise Holding AG		98,975		12,646,495
	Banque Cantonale de Geneve		9,528		1,626,546
	Banque Cantonale du Jura SA		3,848		192,173
#	Banque Cantonale Vaudoise		119,980		11,351,061
	Belimo Holding AG		65,574		24,117,861
	Bell Food Group AG		14,632		3,213,944
	Bellevue Group AG		57,974		1,777,395
	Berner Kantonalbank AG		31,172		6,791,666
	BKW AG		163,805		19,519,943
	Bossard Holding AG, Class A		46,504		7,916,265
	Bucher Industries AG		54,335		16,951,072
	Burckhardt Compression Holding AG		5,365		2,003,644
	Burkhalter Holding AG		29,873		2,254,549
	Bystronic AG		9,740		5,228,524

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SWITZERLAND — (Continued)
	Calida Holding AG		40,721	$	1,675,751
	Carlo Gavazzi Holding AG		3,115		853,312
	Cembra Money Bank AG		195,981		13,898,955
# *	Cicor Technologies Ltd.		15,422		691,612
	Cie Financiere Tradition SA		11,329		1,207,149
	Clariant AG		1,109,744		17,726,743
	Coltene Holding AG		27,288		2,129,260
	Comet Holding AG		18,844		2,711,126
#	COSMO Pharmaceuticals NV		9,195		428,284
	Daetwyler Holding AG		9,745		1,553,550
	DKSH Holding AG		235,948		17,119,594
	dormakaba Holding AG		24,531		8,277,595
# *	Dufry AG		390,816		11,864,980
	EFG International AG		683,675		5,382,258
	Emmi AG		15,919		12,367,602
	Energiedienst Holding AG		83,637		3,355,324
# *	Evolva Holding SA		3,349,123		275,411
#	Feintool International Holding AG		46,525		859,570
*	Flughafen Zurich AG		147,702		21,831,210
	Forbo Holding AG		8,660		9,363,569
	Fundamenta Real Estate AG		3,191		52,099
W	Galenica AG		215,190		15,582,890
# *	GAM Holding AG		1,195,762		1,105,443
	Georg Fischer AG		630,511		30,038,847
#	Gurit Holding AG, Class BR		28,958		2,107,640
	Helvetia Holding AG		266,750		24,995,960
	Hiag Immobilien Holding AG		22,952		1,954,135
# *	HOCHDORF Holding AG		6,697		182,334
	Huber & Suhner AG		108,834		8,593,730
	Hypothekarbank Lenzburg AG		6		25,669
# *	Implenia AG		106,354		3,385,055
# *	Ina Invest Holding AG		29,730		592,112
	Inficon Holding AG		14,941		9,986,938
	Interroll Holding AG		5,083		9,655,970
	Intershop Holding AG		10,830		6,804,817
	Investis Holding SA		5,818		573,159
*	Jungfraubahn Holding AG		18,335		2,181,380
	Kardex Holding AG		49,726		6,592,665
	Komax Holding AG		22,553		5,221,775
#	Kudelski SA		217,692		617,174
	Landis & Gyr Group AG		93,390		5,080,186
	LEM Holding SA		3,961		6,042,579
	Liechtensteinische Landesbank AG		64,467		3,617,063
	Luzerner Kantonalbank AG		20,239		8,298,881
W	Medacta Group SA		7,980		674,024
W	Medmix AG		143,103		2,484,774
#	Meier Tobler Group AG		45,826		1,394,026
	Metall Zug AG, Class B		1,139		2,071,423
	Mikron Holding AG		8,692		72,434
	Mobilezone Holding AG		305,439		4,569,753
	Mobimo Holding AG		63,088		13,705,085
	Novavest Real Estate AG		1,614		68,597
	OC Oerlikon Corp. AG		1,694,495		10,846,836
# *	Orascom Development Holding AG		93,520		723,650
#	Orell Fuessli AG		5,028		418,931
	Orior AG		38,352		2,654,350
	Phoenix Mecano AG		4,517		1,385,751
#	Plazza AG, Class A		6,993		2,289,009
	PSP Swiss Property AG		340,600		34,047,162

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
SWITZERLAND — (Continued)
#	Rieter Holding AG		23,266	$	1,977,255
	Romande Energie Holding SA		2,670		3,031,178
	Schaffner Holding AG		3,129		847,887
	Schweiter Technologies AG		7,284		5,392,811
	Schweizerische Nationalbank		23		113,546
# * W	Sensirion Holding AG		31,605		2,572,938
	SFS Group AG		127,036		10,920,656
	Siegfried Holding AG		32,909		24,331,621
	SIG Group AG		80,424		1,632,936
	Softwareone Holding AG		220,487		2,394,724
	St Galler Kantonalbank AG		17,617		8,061,484
#	Stadler Rail AG		7,173		197,004
	Sulzer AG		141,392		8,133,882
	Swiss Prime Site AG		182,651		14,549,506
*	Swiss Steel Holding AG		3,362,368		750,176
	Swissquote Group Holding SA		83,234		8,635,040
	Temenos AG		107,239		7,229,721
	Thurgauer Kantonalbank		3,152		377,144
#	Tornos Holding AG		26,632		136,858
	TX Group AG		20,220		2,467,835
	u-blox Holding AG		55,196		6,684,311
	Valiant Holding AG		111,863		10,600,707
*	Valora Holding AG		30,106		7,933,070
W	VAT Group AG		106,731		21,658,836
	Vaudoise Assurances Holding SA		6,800		2,708,544
	Vetropack Holding AG		67,815		1,999,091
# *	Von Roll Holding AG		378,198		290,672
	Vontobel Holding AG		227,580		12,218,740
	VP Bank AG, Class A		24,056		2,153,833
	VZ Holding AG		91,061		6,369,847
*	V-ZUG Holding AG		10,820		807,947
	Walliser Kantonalbank		19,368		2,176,780
	Warteck Invest AG		56		122,862
	Ypsomed Holding AG		5,084		756,428
	Zehnder Group AG		86,886		4,395,120
	Zug Estates Holding AG, Class B		1,186		2,043,363
	Zuger Kantonalbank AG		704		5,082,640
*	Zur Rose Group AG		4,404		129,910

TOTAL SWITZERLAND					726,395,190

UNITED ARAB EMIRATES — (0.0%)
# *	Borr Drilling Ltd.		92,938		313,133

UNITED KINGDOM — (0.1%)
	TORM PLC, Class A		195,257		3,984,941

UNITED STATES — (0.2%)
#	ADTRAN Holdings, Inc.		325,096		6,467,782

TOTAL COMMON STOCKS					3,968,757,762

PREFERRED STOCKS — (0.7%)
GERMANY — (0.7%)
	Draegerwerk AG & Co. KGaA		65,509		2,739,778
	Fuchs Petrolub SE		409,501		10,369,674
	Jungheinrich AG		355,303		7,171,637
	Sixt SE		119,957		5,450,073
	STO SE & Co. KGaA		16,969		2,054,985

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
GERMANY — (Continued)
	Villeroy & Boch AGSeries A		41,086	$	544,285

TOTAL GERMANY					28,330,432

RIGHTS/WARRANTS — (0.0%)
AUSTRIA — (0.0%)
* ††	CA Immobilien Anlagen AG Rights 07/26/21		497,492		0
*	S Immo AG Rights		346,922		0

ITALY — (0.0%)
# *	Webuild SpA Warrants 08/02/30		116,038		0

TOTAL RIGHTS/WARRANTS					0

TOTAL INVESTMENT SECURITIES (Cost $4,421,024,089)					3,997,088,194


			Value†
SECURITIES LENDING COLLATERAL — (5.4%)
@ §	The DFA Short Term Investment Fund	19,756,196		228,539,679

TOTAL INVESTMENTS — (100.0%)
(Cost $4,649,528,463)^^			$	4,225,627,873

ADR	American Depositary Receipt

BAM	Build America Mutual

SA	Special Assessment

»	Securities have generally been fair valued. See Security Valuation Note within the Notes to Schedules of Investments.

#	Total or Partial Securities on Loan.

W	Rule 144A, Section 4(2), or other security that is restricted as to resale to institutional investors. This security has been deemed liquid based upon the Fund’s Liquidity Guidelines. The liquidity determination is unaudited.

*	Non-Income Producing Securities.

††	Security valued using significant unobservable inputs (Level 3).

†	See Security Valuation Note within the Notes to Schedules of Investments.

@	Security purchased with cash collateral received from Securities on Loan.

§	Affiliated Fund.

^^	See Federal Tax Cost Note within the Notes to Schedules of Investments.

THE CONTINENTAL SMALL COMPANY SERIES

CONTINUED

Summary of the Series’ investments as of September 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3			Total
Common Stocks
Austria		—	$	127,438,860		—		$	127,438,860
Belgium	$	683,747		186,900,073		—			187,583,820
Canada		—		3,282,276		—			3,282,276
Denmark		—		265,826,849		—			265,826,849
Finland		—		222,299,300		—			222,299,300
France		156,599		427,381,551	$	34,641			427,572,791
Germany		—		559,996,860		—			559,996,860
Ireland		—		64,216,047		—			64,216,047
Israel		600,444		165,430,984		—			166,031,428
Italy		15,369		342,488,599		—			342,503,968
Netherlands		—		238,818,625		—			238,818,625
Norway		—		99,019,590		—			99,019,590
Portugal		—		37,588,310		—			37,588,310
South Africa		—		640,065		—			640,065
Spain		—		240,876,420		—			240,876,420
Sweden		714,899		247,186,608		—			247,901,507
Switzerland		—		726,395,190		—			726,395,190
United Arab Emirates		—		313,133		—			313,133
United Kingdom		—		3,984,941		—			3,984,941
United States		6,467,782		—		—			6,467,782
Preferred Stocks
Germany		—		28,330,432		—			28,330,432

Securities Lending Collateral		—		228,539,679		—			228,539,679

TOTAL	$	8,638,840	$	4,216,954,392	$	34,641	^	$	4,225,627,873

^	A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.

THE CANADIAN SMALL COMPANY SERIES

SCHEDULE OF INVESTMENTS

September 30, 2022

(Unaudited)


		Shares		Value»
COMMON STOCKS — (81.6%)
COMMUNICATION SERVICES — (1.1%)
*	AcuityAds Holdings, Inc.		9,419	$	16,365
# *	Aimia, Inc.		732,996		1,830,699
*	Cineplex, Inc.		28,690		189,003
	Cogeco Communications, Inc.		84,282		4,399,736
	Cogeco, Inc.		36,634		1,461,276
#	Corus Entertainment, Inc., Class B		1,137,421		1,943,254
*	Enthusiast Gaming Holdings, Inc.		18,353		15,678
*	Enthusiast Gaming Holdings, Inc., Class I		9,000		7,816
	TELUS Corp.		173,836		3,451,936
*	TeraGo, Inc.		2,400		5,751
# *	WildBrain Ltd.		612,863		1,020,440
#	Yellow Pages Ltd.		105,820		953,747

TOTAL COMMUNICATION SERVICES					15,295,701

CONSUMER DISCRETIONARY — (4.6%)
# *	Aritzia, Inc.		461,040		15,149,387
*	AutoCanada, Inc.		126,941		2,080,533
#	BMTC Group, Inc.		20,581		207,844
# *	Bragg Gaming Group, Inc.		4,700		18,952
#,*	Canada Goose Holdings, Inc.		266,505		4,060,957
#	Dorel Industries, Inc., Class B		149,777		515,033
#	Exco Technologies Ltd.		164,124		914,869
	Gamehost, Inc.		89,999		508,193
	Leon’s Furniture Ltd.		167,479		1,939,888
	Linamar Corp.		255,634		9,958,132
#	Martinrea International, Inc.		483,433		2,992,256
	MTY Food Group, Inc.		103,016		4,251,576
	Park Lawn Corp.		183,743		3,201,719
	Pizza Pizza Royalty Corp.		162,278		1,484,920
#	Pollard Banknote Ltd.		49,129		673,974
*	Recipe Unlimited Corp.		88,994		1,328,451
# W	Sleep Country Canada Holdings, Inc.		208,190		3,687,993
W	Spin Master Corp.		155,322		4,674,221
# *	Uni-Select, Inc.		242,884		6,414,311

TOTAL CONSUMER DISCRETIONARY					64,063,209

CONSUMER STAPLES — (4.1%)
#	Andrew Peller Ltd., Class A		168,200		683,101
*	CareRx Corp.		2,700		5,883
	Corby Spirit & Wine Ltd.		85,367		1,088,293
	High Liner Foods, Inc.		106,744		1,005,349
W	Jamieson Wellness, Inc.		254,326		6,169,663
#	KP Tissue, Inc.		47,200		351,604
	Lassonde Industries, Inc., Class A		18,000		1,416,831
#	Maple Leaf Foods, Inc.		445,946		6,663,283
	Neighbourly Pharmacy, Inc.		1,426		21,111
#	North West Co., Inc.		291,156		6,742,738
#	Premium Brands Holdings Corp.		227,466		13,996,894
	Primo Water Corp.		893,347		11,202,273
#	Rogers Sugar, Inc.		693,819		3,104,066
# *	SunOpta, Inc.		403,480		3,676,374

TOTAL CONSUMER STAPLES					56,127,463

THE CANADIAN SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
ENERGY — (21.2%)
*	Advantage Energy Ltd.		1,194,867	$	8,589,445
	Africa Oil Corp.		1,333,299		2,470,949
*	AKITA Drilling Ltd., Class A		400		342
*	Athabasca Oil Corp.		2,177,410		3,357,501
# *	Baytex Energy Corp.		2,341,875		9,917,811
#	Birchcliff Energy Ltd.		1,610,417		11,436,776
*	Bonterra Energy Corp.		5,115		25,254
*	Calfrac Well Services Ltd.		3,700		14,223
#	Canacol Energy Ltd.		952,044		1,288,829
#	Cardinal Energy Ltd.		665,476		3,420,478
	CES Energy Solutions Corp.		1,361,989		2,149,445
	Computer Modelling Group Ltd.		452,045		1,662,423
#	Crescent Point Energy Corp.		3,289,792		20,245,697
*	Crew Energy, Inc.		556,020		2,072,974
# *	Denison Mines Corp.		3,853,823		4,491,733
#	Enerflex Ltd.		616,865		2,648,141
# *	Energy Fuels, Inc.		201,592		1,230,259
#	Enerplus Corp.		1,323,108		18,735,572
*	Ensign Energy Services, Inc.		741,132		1,212,552
# *	Fission Uranium Corp.		1,962,000		937,431
#	Freehold Royalties Ltd.		652,441		6,791,980
*	Frontera Energy Corp.		280,837		2,035,095
	Gear Energy Ltd.		201,778		166,523
#	Gibson Energy, Inc.		899,205		14,301,614
*	Gran Tierra Energy, Inc.		2,209,295		2,702,942
*	Greenlane Renewables, Inc.		17,100		7,799
# *	Headwater Exploration, Inc.		648,910		2,470,964
*	InPlay Oil Corp.		29,169		55,958
*	Journey Energy, Inc.		22,652		77,237
*	Kelt Exploration Ltd.		959,669		3,619,557
#	Keyera Corp.		187,969		3,870,010
*	Kolibri Global Energy, Inc.		5,600		7,905
* ††	Lightstream Resources Ltd.		687,816		0
*	MEG Energy Corp.		2,167,763		24,261,495
	North American Construction Group Ltd.		152,233		1,454,209
# *	NuVista Energy Ltd.		1,111,528		7,893,792
*	Obsidian Energy Ltd.		48,098		344,863
#	Paramount Resources Ltd., Class A		405,621		7,164,844
#	Parex Resources, Inc.		774,607		11,310,546
#	Parkland Corp.		836,660		17,928,212
	Pason Systems, Inc.		434,525		4,158,555
*	Petrus Resources Ltd.		4,900		6,917
#	Peyto Exploration & Development Corp.		965,837		7,705,161
	PHX Energy Services Corp.		106,006		444,330
*	Pieridae Energy Ltd.		21,800		14,993
	Pine Cliff Energy Ltd.		87,000		107,699
*	Pipestone Energy Corp.		63,055		168,895
#	PrairieSky Royalty Ltd.		1,182,767		15,249,633
*	Precision Drilling Corp.		79,933		4,046,630
# *	Questerre Energy Corp., Class A		797,460		132,780
#	Secure Energy Services, Inc.		1,849,956		7,727,401
*	ShawCor Ltd.		386,078		2,386,872
* W	STEP Energy Services Ltd.		21,460		69,444
#	Surge Energy, Inc.		40,642		229,783
#	Tamarack Valley Energy Ltd.		1,603,208		4,398,710
	TerraVest Industries, Inc.		5,000		88,500
	Tidewater Midstream & Infrastructure Ltd.		1,358,267		973,457
	Total Energy Services, Inc.		256,662		1,200,303
# *	Touchstone Exploration, Inc.		28,397		23,435

THE CANADIAN SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
ENERGY — (Continued)
#	TransGlobe Energy Corp.		95,106	$	254,693
*	Trican Well Service Ltd.		1,267,327		2,633,097
#	Vermilion Energy, Inc.		949,975		20,338,859
#	Whitecap Resources, Inc.		2,848,499		18,022,864
# *	Yangarra Resources Ltd.		323,471		536,250

TOTAL ENERGY					293,292,641

FINANCIALS — (7.8%)
	AGF Management Ltd., Class B		351,328		1,541,280
#	Alaris Equity Partners Income		153,883		1,653,183
#	Canaccord Genuity Group, Inc.		480,207		2,353,496
#	Canadian Western Bank		498,863		8,122,075
#	Chesswood Group Ltd.		56,542		501,422
#	CI Financial Corp.		1,010,158		9,682,189
	Clairvest Group, Inc.		1,900		99,034
	ECN Capital Corp.		2,311,338		7,646,733
	E-L Financial Corp. Ltd.		7,278		4,510,058
#	Element Fleet Management Corp.		2,180,348		25,728,217
#	EQB, Inc.		135,984		4,571,685
#	Fiera Capital Corp.		356,949		2,245,547
	Firm Capital Mortgage Investment Corp.		186,421		1,554,689
#	First National Financial Corp.		82,019		2,138,129
#	goeasy Ltd.		61,859		4,814,913
# *	GoldMoney, Inc.		125,000		149,310
	Guardian Capital Group Ltd., Class A		93,214		1,805,100
#	Home Capital Group, Inc.		284,804		5,669,895
	Kingsway Financial Services, Inc.		13,070		90,707
#	Laurentian Bank of Canada		370,975		7,954,740
	Onex Corp.		48,816		2,239,101
*	RF Capital Group, Inc.		17,024		178,205
#	Sprott, Inc.		133,740		4,487,301
#	Timbercreek Financial Corp.		518,190		2,851,011
*	Trisura Group Ltd.		199,610		4,827,864
	VersaBank		3,400		23,851

TOTAL FINANCIALS					107,439,735

HEALTH CARE — (1.3%)
#	Andlauer Healthcare Group, Inc.		54,458		1,874,599
#,*	Aptose Biosciences, Inc.		75,121		44,681
# *	Aurora Cannabis, Inc.		763,275		930,478
# *	Bausch Health Cos., Inc.		96,300		663,507
# *	Canopy Growth Corp.		313,200		851,740
# *	Charlottes Web Holdings, Inc.		49,894		20,588
# *	Cronos Group, Inc.		386,929		1,091,140
*	dentalcorp Holdings Ltd.		10,873		62,577
*	Dialogue Health Technologies, Inc.		100		162
#	Extendicare, Inc.		474,539		2,332,588
# *	HEXO Corp.		77,100		13,385
#	HLS Therapeutics, Inc.		20,104		131,276
*	Knight Therapeutics, Inc.		778,243		2,991,617
	Medical Facilities Corp.		164,317		1,276,376
*	Oncolytics Biotech, Inc.		33,485		41,187
#,*	Organigram Holdings, Inc.		1,127,585		990,040
#	Sienna Senior Living, Inc.		398,686		3,399,950
*	Viemed Healthcare, Inc.		85,210		511,703
*	Well Health Technologies Corp.		25,803		57,533
††	Zenith Capital Corp.		111,820		14,684

TOTAL HEALTH CARE					17,299,811

THE CANADIAN SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
INDUSTRIALS — (8.7%)
#	Aecon Group, Inc.		350,074	$	2,412,643
#	AG Growth International, Inc.		124,923		2,912,021
#	Algoma Central Corp.		48,800		569,130
*	ATS Automation Tooling Systems, Inc.		416,536		10,994,247
#	Badger Infrastructure Solutions Ltd.		178,983		3,647,426
# *	Ballard Power Systems, Inc.		698,602		4,275,444
#	Bird Construction, Inc.		278,076		1,199,792
	Black Diamond Group Ltd.		237,417		653,118
# *	Bombardier, Inc., Class A		13,991		273,469
# *	Bombardier, Inc., Class B		435,248		7,792,146
#	Boyd Group Services, Inc.		84,302		10,615,943
#	Calian Group Ltd.		55,592		2,250,885
	Dexterra Group, Inc.		168,743		702,408
# *	DIRTT Environmental Solutions		269,070		114,925
#	Doman Building Materials Group Ltd.		344,034		1,447,017
#	Exchange Income Corp.		96,953		2,908,555
	Finning International, Inc.		809,489		14,228,395
*	GDI Integrated Facility Services, Inc.		54,239		1,678,588
	Hardwoods Distribution, Inc.		1,698		32,378
*	Heroux-Devtek, Inc.		243,053		2,155,427
	K-Bro Linen, Inc.		62,086		1,267,024
	Magellan Aerospace Corp.		114,378		572,159
*	MDA Ltd.		25,771		135,259
#	Mullen Group Ltd.		475,225		4,898,978
#	NFI Group, Inc.		340,794		2,995,069
*	Patriot One Technologies, Inc.		120,000		32,577
	Richelieu Hardware Ltd.		316,493		8,782,117
#	Russel Metals, Inc.		345,023		6,419,149
#	Savaria Corp.		230,245		2,300,200
#	SNC-Lavalin Group, Inc.		886,233		14,756,115
#	Stantec, Inc.		19,723		864,773
	Wajax Corp.		104,085		1,401,514
# *	Westport Fuel Systems, Inc.		73,881		64,436
#	Westshore Terminals Investment Corp.		262,257		5,034,970

TOTAL INDUSTRIALS					120,388,297

INFORMATION TECHNOLOGY — (2.5%)
# *	BlackBerry Ltd.		1,183,693		5,563,357
*	Celestica, Inc.		620,813		5,230,703
*	Converge Technology Solutions Corp.		77,539		368,792
#	Dye & Durham Ltd.		16,633		204,940
	Enghouse Systems Ltd.		249,746		5,243,156
	Evertz Technologies Ltd.		148,543		1,320,526
*	Kinaxis, Inc.		53,649		5,323,538
# *	Lightspeed Commerce, Inc.		202,088		3,552,707
	Quarterhill, Inc.		624,896		741,904
*	Sangoma Technologies Corp.		4,200		21,922
*	Sierra Wireless, Inc.		202,824		6,165,403
	Softchoice Corp.		13,390		199,200
	TECSYS, Inc.		14,563		308,476
	Vecima Networks, Inc.		6,059		74,567

TOTAL INFORMATION TECHNOLOGY					34,319,191

MATERIALS — (20.8%)
# *	5N Plus, Inc.		420,567		508,450
#	Acadian Timber Corp.		65,067		753,663
#	AirBoss of America Corp.		94,697		572,426
	Alamos Gold, Inc.,Class A		2,215,177		16,421,116

THE CANADIAN SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
MATERIALS — (Continued)
#	Altius Minerals Corp.		274,538	$	3,847,726
# *	Americas Gold & Silver Corp.		86,596		36,360
	Amerigo Resources Ltd.		227,887		160,025
*	Argonaut Gold, Inc.		1,730,006		526,009
*	Ascot Resources Ltd.		71,438		20,169
*	Aya Gold & Silver, Inc.		16,800		97,418
	B2Gold Corp.		4,647,782		14,962,845
*	Calibre Mining Corp.		231,489		159,203
*	Canfor Corp.		347,829		5,063,772
# *	Canfor Pulp Products, Inc.		144,351		493,762
# *	Capstone Mining Corp.		2,311,783		5,455,831
#	Cascades, Inc.		518,809		3,019,672
#	Centerra Gold, Inc.		1,153,585		5,077,495
	China Gold International Resources Corp. Ltd.		1,379,942		3,516,412
# *	Copper Mountain Mining Corp.		984,419		1,097,481
	Dundee Precious Metals, Inc.		1,031,781		4,586,191
# *	Eldorado Gold Corp.		968,248		5,848,700
#,*	Endeavour Silver Corp.		506,479		1,526,522
# *	Equinox Gold Corp.		1,286,872		4,682,989
# *	ERO Copper Corp.		302,222		3,340,884
#	First Majestic Silver Corp.		1,202,622		9,180,331
# *	First Mining Gold Corp.		749,400		111,215
#,*	Fortuna Silver Mines, Inc.		1,503,545		3,774,795
*	Freegold Ventures Ltd.		9,000		2,899
# *	Galiano Gold, Inc.		696,057		337,611
*	GoGold Resources, Inc.		180,275		206,200
* ††	Hanfeng Evergreen, Inc.		45,837		0
#	Hudbay Minerals, Inc.		1,208,976		4,866,944
*	i-80 Gold Corp.		28,498		50,339
#,*	IAMGOLD Corp.		2,665,915		2,870,732
# *	Imperial Metals Corp.		381,250		670,675
# *	Interfor Corp.		350,741		6,139,586
*	K92 Mining, Inc.		53,527		306,123
*	Karora Resources, Inc.		555,631		1,146,377
	Kinross Gold Corp.		1,399,636		5,264,509
#	Labrador Iron Ore Royalty Corp.		315,769		6,608,667
# *	Largo, Inc.		70,585		371,217
# *	Lucara Diamond Corp.		1,635,773		651,301
#	Lundin Gold, Inc.		202,997		1,410,773
	Lundin Mining Corp.		1,028,048		5,194,755
# *	MAG Silver Corp.		230,159		2,872,384
*	Major Drilling Group International, Inc.		668,976		4,024,462
*	Mandalay Resources Corp.		464		587
*	Marathon Gold Corp.		147,500		113,186
	Maverix Metals, Inc.		96,425		322,550
	Methanex Corp.		340,999		10,863,974
	Neo Performance Materials, Inc.		16,755		123,599
*	New Gold, Inc.		3,469,405		3,089,274
# *	New Pacific Metals Corp.		1,200		2,544
	Newcrest Mining Ltd.		208,908		2,295,910
# *	Northern Dynasty Minerals Ltd.		76,877		18,644
*	OceanaGold Corp.		3,792,013		6,176,588
* ††	Orbite Technologies, Inc.		73,500		0
#,*	Orla Mining Ltd.		76,865		250,915
#	Osisko Gold Royalties Ltd.		865,057		8,809,936
# *	Osisko Mining, Inc.		1,251,029		2,798,480
#	Pan American Silver Corp.		783,577		12,443,733
*	PolyMet Mining Corp.		64,208		186,393
*	Sabina Gold & Silver Corp.		1,438,714		1,135,265

THE CANADIAN SMALL COMPANY SERIES

CONTINUED


		Shares		Value»
MATERIALS — (Continued)
#	Sandstorm Gold Ltd.		1,145,735	$	5,928,970
# *	Seabridge Gold, Inc.		333,519		3,961,860
# *	SilverCrest Metals, Inc.		167,445		927,863
#	SSR Mining, Inc.		1,110,622		16,331,320
	Stelco Holdings, Inc.		264,376		6,585,716
#	Stella-Jones, Inc.		312,231		8,765,569
# *	Taseko Mines Ltd.		1,642,585		1,878,803
*	Torex Gold Resources, Inc.		465,118		3,357,025
#	Transcontinental, Inc., Class A		415,053		4,834,548
# *	Treasury Metals, Inc.		207		45
*	Trevali Mining Corp.		255,929		37,981
	Triple Flag Precious Metals Corp.		1,600		20,270
#,*	Turquoise Hill Resources Ltd.		496,946		14,704,769
*	Victoria Gold Corp.		23,206		137,588
# *	Wallbridge Mining Co. Ltd.		350,615		43,150
# *	Wesdome Gold Mines Ltd.		740,091		5,004,126
*	Western Copper & Gold Corp.		27,900		35,346
#	Western Forest Products, Inc.		1,786,410		1,707,070
#	Winpak Ltd.		175,225		5,699,395
#	Yamana Gold, Inc.		4,464,192		20,201,705

TOTAL MATERIALS					286,631,713

REAL ESTATE — (2.2%)
#	Altus Group Ltd.		244,093		7,912,900
	Bridgemarq Real Estate Services		53,069		553,222
	DREAM Unlimited Corp., Class A		232,598		4,142,260
	Information Services Corp.		32,705		522,058
# *	Invesque, Inc.		191,266		223,781
*	Mainstreet Equity Corp.		31,349		2,405,613
	Melcor Developments Ltd.		55,340		434,275
	Morguard Corp.		22,684		1,791,106
# *	Real Matters, Inc.		363,920		1,251,399
#	Tricon Residential, Inc.		1,307,133		11,307,853

TOTAL REAL ESTATE					30,544,467

UTILITIES — (7.3%)
*	Altius Renewable Royalties Corp.		4,704		25,983
	Atco Ltd., Class I		396,942		12,198,348
	Boralex, Inc., Class A		499,461		15,862,275
#	Brookfield Infrastructure Corp., Class A		223,207		9,086,008
#	Capital Power Corp.		724,520		24,599,115
#	Innergex Renewable Energy, Inc.		748,951		9,428,643
*	Maxim Power Corp.		61,434		181,454
	Polaris Renewable Energy, Inc.		107,795		1,268,865
#	Superior Plus Corp.		885,902		6,426,132
	TransAlta Corp.		1,766,644		15,615,606
#	TransAlta Renewables, Inc.		588,980		6,233,676

TOTAL UTILITIES					100,926,105

TOTAL COMMON STOCKS					1,126,328,333

RIGHTS/WARRANTS — (0.0%)
MATERIALS — (0.0%)
*	Treasury Metals, Inc. Warrants 08/07/23		1		0

TOTAL INVESTMENT SECURITIES (Cost $1,128,306,142)					1,126,328,333

THE CANADIAN SMALL COMPANY SERIES

CONTINUED


		Shares		Value†
SECURITIES LENDING COLLATERAL — (18.4%)
@ §	The DFA Short Term Investment Fund		21,957,018	$	253,998,781

TOTAL INVESTMENTS — (100.0%)
(Cost $1,382,269,262)^^				$	1,380,327,114

»	Securities have generally been fair valued. See Security Valuation Note within the Notes to Schedules of Investments.

*	Non-Income Producing Securities.

#	Total or Partial Securities on Loan.

W	Rule 144A, Section 4(2), or other security that is restricted as to resale to institutional investors. This security has been deemed liquid based upon the Fund’s Liquidity Guidelines. The liquidity determination is unaudited.

††	Security valued using significant unobservable inputs (Level 3).

†	See Security Valuation Note within the Notes to Schedules of Investments.

@	Security purchased with cash collateral received from Securities on Loan.

§	Affiliated Fund.

^^	See Federal Tax Cost Note within the Notes to Schedules of Investments.

Summary of the Series’ investments as of September 30, 2022, based on their valuation inputs, is as follows (see Security Valuation Note):


	Investments in Securities (Market Value)
	Level 1		Level 2		Level 3		Total
Common Stocks
Communication Services	$	15,295,701		—		—	$	15,295,701
Consumer Discretionary		64,063,209		—		—		64,063,209
Consumer Staples		56,127,463		—		—		56,127,463
Energy		293,292,641		—		—		293,292,641
Financials		107,439,735		—		—		107,439,735
Health Care		17,285,127		—	$	14,684		17,299,811
Industrials		120,388,297		—		—		120,388,297
Information Technology		34,319,191		—		—		34,319,191
Materials		286,593,732	$	37,981		—		286,631,713
Real Estate		30,544,467		—		—		30,544,467
Utilities		100,926,105		—		—		100,926,105
Securities Lending Collateral		—		253,998,781		—		253,998,781

TOTAL	$	1,126,275,668	$	254,036,762	$	14,684^	$	1,380,327,114

^	A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.

ORGANIZATION

The DFA Investment Trust Company (the “Trust”) is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. At September 30, 2022, the Trust consisted of ten operational investment portfolios, of which five The Japanese Small Company Series, The Asia Pacific Small Company Series, The United Kingdom Small Company Series, The Continental Small Company Series and The Canadian Small Company Series (collectively, the “Series”), are included in this document.

SECURITY VALUATION

The Series use a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below:

•

Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies and futures contracts)

•

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

•

Level 3 - significant unobservable inputs (including the Series’ own assumptions in determining the fair value of investments)

Securities held by the Series, including over-the-counter securities, are valued at the last quoted sale price of the day. International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Series that are listed on Nasdaq are valued at the Nasdaq Official Closing Price (“NOCP”). If there is no last reported sale price or NOCP for the day, the Series value the securities within the range of the most recent quoted bid and ask prices. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end management investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy.

Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Trustees of the Trust. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Dimensional Fund Advisors LP) occur before the net asset value of the Series is calculated. When fair value pricing is used, the prices of securities used by the Series may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy.

The Series will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) and the time that the net asset values of the Series are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the Series price their shares at the close of the NYSE, the Series will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets’ perceptions and trading activities on the Series’ foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Trustees of the Series has determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the Series uses data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When a Series uses fair value pricing, the values assigned to the Series’ foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy.

Futures contracts held by the Series are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy.

Over-the-counter derivative contracts, which include forward currency contracts, do not require material subjectivity as pricing inputs are observed from quoted markets and are categorized as Level 2 in the hierarchy.

A summary of the inputs used to value the Series’ investments by each major security type, industry and/or country is disclosed previously in this note. A valuation hierarchy table has been included at the end of the Schedule of Investments The methodology or inputs used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

FINANCIAL INSTRUMENTS

In accordance with the Series’ investment objectives and policies, the Series may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below:

1. FOREIGN MARKET RISKS: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Series may be inhibited.

Derivative Financial Instruments

Summarized below are the specific types of derivative instruments used by the Series.

2. FUTURES CONTRACTS: The Series may purchase or sell futures contracts and options on futures contracts for equity securities and indices to adjust market exposure based on actual or expected cash inflows to or outflows from the Series. The Series, however, do not intend to sell futures contracts to establish short positions in individual securities. Upon entering into a futures contract, a Series deposits cash or pledges U.S. Government securities to a broker in an amount equal to the minimum initial margin requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as variation margin and are recorded daily by the Series as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Series record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Risks may arise upon entrance into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities or indices, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Series could lose more than the initial margin requirements. Entering into stock index futures subjects the Series to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default.

FEDERAL TAX COST

At September 30, 2022, the total cost of securities for federal income tax purposes was:


	Federal Tax Cost
The Japanese Small Company Series	$	3,036,142
The Asia Pacific Small Company Series		1,615,190
The United Kingdom Small Company Series		1,444,131
The Continental Small Company Series		4,700,956
The Canadian Small Company Series		1,412,084

RECENTLY ISSUED ACCOUNTING STANDARDS

In October 2020, the SEC adopted new regulations governing the use of derivatives by registered investment companies. Rule 18f-4 (the “Derivatives Rule”) imposes limits on the amount of derivatives contracts the Series could enter, eliminate the asset segregation framework currently used by the Series to comply with Section 18 of the 1940 Act, and require funds whose use of derivatives is more than a limited specified exposure to establish and maintain a derivatives risk management program and appoint a derivatives risk manager. The Derivatives Rule became effective February 19, 2021 and the Series are required to comply on August 19, 2022. Management is currently evaluating the effect, if any, the Derivatives Rule will have on the Series.

SUBSEQUENT EVENT EVALUATIONS

Management has evaluated the impact of all subsequent events on the Series through the date on which the financial statements were issued and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements.