Schedule of Investments
September 30, 2022 (unaudited)
Balanced Fund
| Security Description | Shares, Contracts or Principal Amount ($) | Fair Value ($)(1) | ||||||||
| Common Stocks (United States) - 38.9% | ||||||||||
| Communication Services - 1.6% | ||||||||||
| Alphabet Inc (2) | 33,081 | 3,180,738 | ||||||||
| Comcast Corp | 12,061 | 353,749 | ||||||||
| Entravision Communications Corp | 1,386 | 5,502 | ||||||||
| IDT Corp (2) | 5,933 | 147,316 | ||||||||
| Liberty TripAdvisor Holdings Inc | 4,043 | 4,407 | ||||||||
| Meta Platforms Inc (2) | 7,082 | 960,886 | ||||||||
| Netflix Inc | 579 | 136,320 | ||||||||
| Telephone and Data Systems Inc | 447 | 6,213 | ||||||||
| T-Mobile US Inc | 3,818 | 512,261 | ||||||||
| Verizon Communications Inc | 198 | 7,518 | ||||||||
| 5,314,910 | ||||||||||
| Consumer Discretionary - 4.4% | ||||||||||
| Amazon.com Inc (2) | 12,723 | 1,437,699 | ||||||||
| AutoZone Inc | 13 | 27,845 | ||||||||
| Best Buy Co Inc | 2,843 | 180,076 | ||||||||
| Booking Holdings Inc | 898 | 1,475,603 | ||||||||
| BorgWarner Inc | 7,310 | 229,534 | ||||||||
| Buckle Inc/The | 273 | 8,643 | ||||||||
| Burlington Stores Inc | 1,956 | 218,857 | ||||||||
| Cavco Industries Inc (2) | 35 | 7,202 | ||||||||
| Domino’s Pizza Inc | 9 | 2,792 | ||||||||
| Ethan Allen Interiors Inc | 151 | 3,192 | ||||||||
| Ford Motor Co | 20,166 | 225,859 | ||||||||
| Frontdoor Inc | 498 | 10,154 | ||||||||
| Garmin Ltd | 1,108 | 88,983 | ||||||||
| General Motors Co | 17,171 | 551,017 | ||||||||
| Gentex Corp | 210 | 5,006 | ||||||||
| Genuine Parts Co | 22 | 3,285 | ||||||||
| Goodyear Tire & Rubber Co/The (2) | 850 | 8,577 | ||||||||
| Grand Canyon Education Inc (2) | 5,308 | 436,583 | ||||||||
| H&R Block Inc | 2,975 | 126,557 | ||||||||
| Home Depot Inc/The | 6,550 | 1,807,407 | ||||||||
| Lennar Corp | 103 | 7,679 | ||||||||
| LKQ Corp | 2,331 | 109,907 | ||||||||
| Lowe’s Cos Inc | 4,776 | 896,981 | ||||||||
| Lululemon Athletica Inc (2) | 3,924 | 1,096,993 | ||||||||
| M/I Homes Inc (2) | 5,880 | 213,032 | ||||||||
| Macy’s Inc | 34,956 | 547,761 | ||||||||
| Malibu Boats Inc (2) | 287 | 13,773 | ||||||||
| MasterCraft Boat Holdings Inc (2) | 260 | 4,901 | ||||||||
| NVR Inc | 5 | 19,935 | ||||||||
| ONE Group Hospitality Inc/The | 1,514 | 10,053 | ||||||||
| O’Reilly Automotive Inc (2) | 782 | 550,020 | ||||||||
| Oxford Industries Inc | 58 | 5,207 | ||||||||
| Patrick Industries Inc | 171 | 7,497 | ||||||||
| Qurate Retail Inc | 4,274 | 8,591 | ||||||||
| Ross Stores Inc | 91 | 7,669 | ||||||||
| Skechers USA Inc (2) | 1,876 | 59,507 | ||||||||
| Skyline Champion Corp | 7,104 | 375,588 | ||||||||
| Smith & Wesson Brands Inc | 5,122 | 53,115 | ||||||||
| Sonos Inc | 21,480 | 298,572 | ||||||||
| Starbucks Corp | 13,749 | 1,158,491 | ||||||||
| Tapestry Inc | 2,980 | 84,721 | ||||||||
| Target Corp | 785 | 116,486 | ||||||||
| Tesla Inc | 2,305 | 611,401 | ||||||||
| TJX Cos Inc/The | 333 | 20,686 | ||||||||
| Town Sports International Holdings Inc (2)(6) | 1,777 | - | ||||||||
| Tractor Supply Co | 1,565 | 290,902 | ||||||||
| Tupperware Brands Corp (2) | 1,269 | 8,312 | ||||||||
| Ulta Beauty Inc (2) | 1,721 | 690,448 | ||||||||
| Whirlpool Corp | 2,308 | 311,141 | ||||||||
| Yum! Brands Inc | 2,861 | 304,239 | ||||||||
| 14,738,479 | ||||||||||
| Consumer Staples - 1.7% | ||||||||||
| Albertsons Cos Inc | 5,540 | 137,724 | ||||||||
| Archer-Daniels-Midland Co | 9,443 | 759,689 | ||||||||
| Bunge Ltd | 2,201 | 181,737 | ||||||||
| Casey’s General Stores Inc | 51 | 10,329 | ||||||||
| Costco Wholesale Corp | 5,717 | 2,699,968 | ||||||||
| Flowers Foods Inc | 250 | 6,173 | ||||||||
| General Mills Inc | 8,383 | 642,222 | ||||||||
| Ingles Markets Inc | 61 | 4,832 | ||||||||
| Ingredion Inc | 1,260 | 101,455 | ||||||||
| Keurig Dr Pepper Inc | 146 | 5,230 | ||||||||
| Kimberly-Clark Corp | 23 | 2,588 | ||||||||
| Kraft Heinz Co/The | 152 | 5,069 | ||||||||
| Kroger Co/The | 147 | 6,431 | ||||||||
| Molson Coors Beverage Co | 175 | 8,398 | ||||||||
| Mondelez International Inc | 3,055 | 167,506 | ||||||||
| PepsiCo Inc | 865 | 141,220 | ||||||||
| Tyson Foods Inc | 6,932 | 457,027 | ||||||||
| Walmart Inc | 2,159 | 280,022 | ||||||||
| 5,617,620 | ||||||||||
| Energy - 3.0% | ||||||||||
| Antero Resources Corp | 143 | 4,366 | ||||||||
| APA Corp | 3,657 | 125,033 | ||||||||
| Arch Resources Inc | 27 | 3,202 | ||||||||
| Bristow Group Inc (2) | 747 | 17,547 | ||||||||
| California Resources Corp | 220 | 8,455 | ||||||||
| Centrus Energy Corp (2) | 1,033 | 42,332 | ||||||||
| Cheniere Energy Inc | 1,932 | 320,538 | ||||||||
| Chevron Corp | 17,709 | 2,544,252 | ||||||||
| Chord Energy Corp | 23 | 3,146 | ||||||||
| Civitas Resources Inc | 438 | 25,137 | ||||||||
| ConocoPhillips | 7,854 | 803,778 | ||||||||
| Continental Resources Inc/OK | 64 | 4,276 | ||||||||
| Coterra Energy Inc | 180 | 4,702 | ||||||||
| Delek US Holdings Inc | 107 | 2,904 | ||||||||
| Denbury Inc (2) | 79 | 6,815 | ||||||||
| Devon Energy Corp | 1,759 | 105,769 | ||||||||
| Diamondback Energy Inc | 764 | 92,031 | ||||||||
| DT Midstream Inc | 731 | 37,932 | ||||||||
| EOG Resources Inc | 2,314 | 258,543 | ||||||||
| EQT Corp | 165 | 6,724 | ||||||||
| Exxon Mobil Corp | 28,326 | 2,473,143 | ||||||||
| FLEX LNG Ltd | 172 | 5,447 | ||||||||
| Hess Corp | 879 | 95,802 | ||||||||
| HF Sinclair Corp | 465 | 25,036 | ||||||||
| Marathon Oil Corp | 482 | 10,884 | ||||||||
| Marathon Petroleum Corp | 14,487 | 1,438,994 | ||||||||
| Matador Resources Co | 106 | 5,186 | ||||||||
| Murphy Oil Corp | 87 | 3,060 | ||||||||
| Nine Energy Service Inc (2) | 1,808 | 4,773 | ||||||||
| Occidental Petroleum Corp | 285 | 17,513 | ||||||||
| ONEOK Inc | 1,558 | 79,832 | ||||||||
| Ovintiv Inc | 2,582 | 118,772 | ||||||||
| Par Pacific Holdings Inc (2) | 232 | 3,807 | ||||||||
| PBF Energy Inc (2) | 163 | 5,731 | ||||||||
| PDC Energy Inc | 70 | 4,045 | ||||||||
| Phillips 66 | 2,850 | 230,052 | ||||||||
| Pioneer Natural Resources Co | 726 | 157,201 | ||||||||
| Range Resources Corp | 131 | 3,309 | ||||||||
| Schlumberger NV | 8,689 | 311,935 | ||||||||
| Scorpio Tankers Inc | 111 | 4,666 | ||||||||
| SM Energy Co | 104 | 3,911 | ||||||||
| Targa Resources Corp | 2,080 | 125,507 | ||||||||
| Teekay Corp (2) | 1,515 | 5,439 | ||||||||
| Valero Energy Corp | 3,812 | 407,312 | ||||||||
| Williams Cos Inc/The | 383 | 10,965 | ||||||||
| World Fuel Services Corp | 641 | 15,025 |
| 9,984,829 | ||||||||||
| Financials - 5.7% | ||||||||||
| Aflac Inc | 1,518 | 85,312 | ||||||||
| Ally Financial Inc | 8,267 | 230,071 | ||||||||
| Amalgamated Financial Corp | 186 | 4,194 | ||||||||
| American Equity Investment Life Holding Co | 4,048 | 150,950 | ||||||||
| American Express Co | 3,328 | 448,980 | ||||||||
| American Financial Group Inc/OH | 1,094 | 134,485 | ||||||||
| American International Group Inc | 25,630 | 1,216,912 | ||||||||
| Axis Capital Holdings Ltd | 103 | 5,062 | ||||||||
| Bank of New York Mellon Corp/The | 10,738 | 413,628 | ||||||||
| Bank OZK | 272 | 10,760 | ||||||||
| Berkshire Hathaway Inc | 29,486 | 7,873,352 | ||||||||
| Cadence Bank | 112 | 2,846 | ||||||||
| Capital One Financial Corp | 1,476 | 136,043 | ||||||||
| Charles Schwab Corp/The | 13,955 | 1,002,946 | ||||||||
| Chubb Ltd | 4,619 | 840,104 | ||||||||
| East West Bancorp Inc | 5,813 | 390,285 | ||||||||
| Essent Group Ltd | 4,961 | 172,990 | ||||||||
| FB Financial Corp | 588 | 22,467 | ||||||||
| Fidelity National Financial Inc | 9,985 | 361,457 | ||||||||
| Fifth Third Bancorp | 154 | 4,922 | ||||||||
| Flagstar Bancorp Inc | 146 | 4,876 | ||||||||
| Hartford Financial Services Group Inc/The | 2,606 | 161,416 | ||||||||
| Heartland Financial USA Inc | 126 | 5,463 | ||||||||
| International Bancshares Corp | 166 | 7,055 | ||||||||
| Marsh & McLennan Cos Inc | 11,097 | 1,656,671 | ||||||||
| Medley Management Inc (2)(6) | 101 | - | ||||||||
| Midland States Bancorp Inc | 161 | 3,795 | ||||||||
| Moelis & Co | 427 | 14,437 | ||||||||
| Mr Cooper Group Inc | 1,437 | 58,199 | ||||||||
| NMI Holdings Inc (2) | 493 | 10,042 | ||||||||
| Northern Trust Corp | 1,962 | 167,869 | ||||||||
| Old Republic International Corp | 554 | 11,595 | ||||||||
| Pathward Financial Inc | 2,341 | 77,159 | ||||||||
| PennyMac Financial Services Inc | 62 | 2,660 | ||||||||
| Radian Group Inc | 256 | 4,938 | ||||||||
| Regions Financial Corp | 13,298 | 266,891 | ||||||||
| Reinsurance Group of America Inc | 1,220 | 153,488 | ||||||||
| State Street Corp | 3,034 | 184,498 | ||||||||
| Stewart Information Services Corp | 6,154 | 268,561 | ||||||||
| Synchrony Financial | 4,214 | 118,793 | ||||||||
| W R Berkley Corp | 244 | 15,758 | ||||||||
| Walker & Dunlop Inc | 1,186 | 99,304 | ||||||||
| Willis Towers Watson PLC | 11,252 | 2,260,977 | ||||||||
| 19,062,211 | ||||||||||
| Healthcare - 7.6% | ||||||||||
| Abbott Laboratories | 76 | 7,354 | ||||||||
| AbbVie Inc | 13,037 | 1,749,696 | ||||||||
| Alaunos Therapeutics Inc | 5,102 | 8,775 | ||||||||
| Align Technology Inc (2) | 2,241 | 464,134 | ||||||||
| AmerisourceBergen Corp | 71 | 9,608 | ||||||||
| Amgen Inc | 9,564 | 2,155,726 | ||||||||
| Biogen Inc (2) | 737 | 196,779 | ||||||||
| Bristol-Myers Squibb Co | 18,154 | 1,290,568 | ||||||||
| Cardinal Health Inc | 13,549 | 903,447 | ||||||||
| Catalent Inc | 4,654 | 336,763 | ||||||||
| Centene Corp | 3,469 | 269,923 | ||||||||
| Chemed Corp | 15 | 6,548 | ||||||||
| Cigna Corp | 3,106 | 861,822 | ||||||||
| CVS Health Corp | 7,665 | 731,011 | ||||||||
| Dexcom Inc | 2,200 | 177,188 | ||||||||
| Dynavax Technologies Corp (2) | 455 | 4,750 | ||||||||
| Elevance Health Inc | 341 | 154,896 | ||||||||
| Eli Lilly & Co | 4,244 | 1,372,297 | ||||||||
| Emergent BioSolutions Inc (2) | 216 | 4,534 | ||||||||
| Enhabit Inc (2) | 293 | 4,114 | ||||||||
| Exact Sciences Corp (2) | 1,513 | 49,157 | ||||||||
| Fulgent Genetics Inc (2) | 8,589 | 327,413 | ||||||||
| Galectin Therapeutics Inc | 1,818 | 2,963 |
| Genprex Inc (2) | 2,209 | 3,115 | ||||||||
| Gilead Sciences Inc | 18,158 | 1,120,167 | ||||||||
| Humana Inc | 234 | 113,534 | ||||||||
| IDEXX Laboratories Inc | 16 | 5,213 | ||||||||
| ImmunityBio Inc (2) | 10,242 | 50,903 | ||||||||
| Johnson & Johnson | 15,428 | 2,520,318 | ||||||||
| Laboratory Corp of America Holdings | 80 | 16,385 | ||||||||
| McKesson Corp | 2,789 | 947,897 | ||||||||
| Merck & Co Inc | 15,616 | 1,344,850 | ||||||||
| Moderna Inc | 5,909 | 698,739 | ||||||||
| Molina Healthcare Inc (2) | 46 | 15,173 | ||||||||
| Neurocrine Biosciences Inc | 1,036 | 110,034 | ||||||||
| Orthofix Medical Inc (2) | 180 | 3,440 | ||||||||
| Pfizer Inc | 21,305 | 932,307 | ||||||||
| Quest Diagnostics Inc | 126 | 15,459 | ||||||||
| QuidelOrtho Corp (2) | 1,807 | 129,164 | ||||||||
| RadNet Inc | 925 | 18,824 | ||||||||
| Regeneron Pharmaceuticals Inc (2) | 860 | 592,428 | ||||||||
| SIGA Technologies Inc | 515 | 5,305 | ||||||||
| UnitedHealth Group Inc | 6,145 | 3,103,471 | ||||||||
| Universal Health Services Inc | 67 | 5,908 | ||||||||
| Veeva Systems Inc (2) | 17 | 2,803 | ||||||||
| Veracyte Inc | 28,430 | 471,938 | ||||||||
| Vertex Pharmaceuticals Inc (2) | 2,943 | 852,116 | ||||||||
| Viatris Inc | 5,057 | 43,086 | ||||||||
| Vir Biotechnology Inc (2) | 460 | 8,869 | ||||||||
| West Pharmaceutical Services Inc | 1,479 | 363,952 | ||||||||
| Zimmer Biomet Holdings Inc | 49 | 5,123 | ||||||||
| Zoetis Inc | 5,895 | 874,170 | ||||||||
| 25,464,157 | ||||||||||
| Industrials - 4.2% | ||||||||||
| AECOM | 79 | 5,401 | ||||||||
| AGCO Corp | 785 | 75,493 | ||||||||
| AMETEK Inc | 122 | 13,836 | ||||||||
| Argan Inc | 199 | 6,402 | ||||||||
| Atkore Inc (2) | 3,090 | 240,433 | ||||||||
| BlueLinx Holdings Inc (2) | 351 | 21,797 | ||||||||
| Boise Cascade Co | 2,230 | 132,596 | ||||||||
| Builders FirstSource Inc (2) | 8,515 | 501,704 | ||||||||
| BWX Technologies Inc | 52 | 2,619 | ||||||||
| Cintas Corp | 1,015 | 394,013 | ||||||||
| Copart Inc (2) | 32,414 | 3,448,850 | ||||||||
| CoStar Group Inc (2) | 13,806 | 961,588 | ||||||||
| Eaton Corp PLC | 30 | 4,001 | ||||||||
| EMCOR Group Inc | 2,825 | 326,231 | ||||||||
| Emerson Electric Co | 66 | 4,833 | ||||||||
| Encore Wire Corp | 44 | 5,084 | ||||||||
| Expeditors International of Washington Inc | 30 | 2,649 | ||||||||
| Fortune Brands Home & Security Inc | 5,833 | 313,174 | ||||||||
| Genco Shipping & Trading Ltd | 330 | 4,135 | ||||||||
| General Dynamics Corp | 5,212 | 1,105,830 | ||||||||
| Graco Inc | 984 | 58,991 | ||||||||
| H&E Equipment Services Inc | 182 | 5,158 | ||||||||
| Heidrick & Struggles International Inc | 232 | 6,030 | ||||||||
| Hubbell Inc | 2,093 | 466,739 | ||||||||
| Karat Packaging Inc (2) | 183 | 2,926 | ||||||||
| Leidos Holdings Inc | 2,282 | 199,607 | ||||||||
| Lockheed Martin Corp | 4,786 | 1,848,784 | ||||||||
| ManpowerGroup Inc | 2,195 | 141,995 | ||||||||
| Matson Inc | 1,892 | 116,396 | ||||||||
| MDU Resources Group Inc | 575 | 15,726 | ||||||||
| Mueller Industries Inc | 2,654 | 157,754 | ||||||||
| MYR Group Inc (2) | 46 | 3,898 | ||||||||
| Northrop Grumman Corp | 2,880 | 1,354,522 | ||||||||
| nVent Electric PLC | 1,655 | 52,315 | ||||||||
| Old Dominion Freight Line Inc | 11 | 2,736 | ||||||||
| Owens Corning | 551 | 43,314 | ||||||||
| PACCAR Inc | 2,372 | 198,513 | ||||||||
| Primoris Services Corp | 195 | 3,169 | ||||||||
| Raytheon Technologies Corp | 40 | 3,274 | ||||||||
| Regal Rexnord Corp | 297 | 41,687 | ||||||||
| Republic Services Inc | 63 | 8,571 |
| Ryder System Inc | 145 | 10,946 | ||||||||
| Sensata Technologies Holding PLC | 262 | 9,767 | ||||||||
| Southwest Airlines Co (2) | 8,034 | 247,769 | ||||||||
| Sterling Infrastructure Inc (2) | 229 | 4,917 | ||||||||
| Titan Machinery Inc (2) | 104 | 2,939 | ||||||||
| UFP Industries Inc | 83 | 5,989 | ||||||||
| United Parcel Service Inc | 1,905 | 307,734 | ||||||||
| United Rentals Inc (2) | 10 | 2,701 | ||||||||
| Univar Solutions Inc (2) | 213 | 4,844 | ||||||||
| Valmont Industries Inc | 16 | 4,298 | ||||||||
| Verisk Analytics Inc | 2,023 | 344,982 | ||||||||
| Vicor Corp (2) | 83 | 4,909 | ||||||||
| Waste Management Inc | 4,783 | 766,284 | ||||||||
| WESCO International Inc (2) | 43 | 5,133 | ||||||||
| WW Grainger Inc | 37 | 18,100 | ||||||||
| 14,044,086 | ||||||||||
| Information Technology - 9.7% | ||||||||||
| Amkor Technology Inc | 9,012 | 153,655 | ||||||||
| Apple Inc | 77,034 | 10,646,099 | ||||||||
| Arista Networks Inc (2) | 24 | 2,709 | ||||||||
| Arrow Electronics Inc (2) | 3,762 | 346,819 | ||||||||
| Avid Technology Inc (2) | 615 | 14,305 | ||||||||
| Avnet Inc | 7,482 | 270,250 | ||||||||
| Broadcom Inc | 234 | 103,898 | ||||||||
| Cadence Design Systems Inc (2) | 50 | 8,172 | ||||||||
| Cisco Systems Inc | 12,885 | 515,400 | ||||||||
| Cognizant Technology Solutions Corp | 88 | 5,055 | ||||||||
| CommVault Systems Inc (2) | 157 | 8,327 | ||||||||
| Corning Inc | 318 | 9,228 | ||||||||
| Dell Technologies Inc | 528 | 18,042 | ||||||||
| Euronet Worldwide Inc (2) | 1,536 | 116,367 | ||||||||
| Fabrinet (2) | 50 | 4,773 | ||||||||
| Intel Corp | 11,473 | 295,659 | ||||||||
| International Money Express Inc (2) | 216 | 4,923 | ||||||||
| Intuit Inc | 894 | 346,264 | ||||||||
| Jabil Inc | 21,182 | 1,222,413 | ||||||||
| Manhattan Associates Inc (2) | 13,956 | 1,856,567 | ||||||||
| Mastercard Inc | 1,327 | 377,319 | ||||||||
| Microsoft Corp | 40,849 | 9,513,720 | ||||||||
| Monolithic Power Systems Inc | 1,692 | 614,873 | ||||||||
| NetScout Systems Inc (2) | 261 | 8,175 | ||||||||
| NortonLifeLock Inc | 2,999 | 60,400 | ||||||||
| Oracle Corp | 11,122 | 679,221 | ||||||||
| Paycom Software Inc (2) | 8 | 2,640 | ||||||||
| QUALCOMM Inc | 15,525 | 1,754,015 | ||||||||
| Sanmina Corp (2) | 204 | 9,400 | ||||||||
| Skyworks Solutions Inc | 56 | 4,775 | ||||||||
| StarTek Inc (2) | 1,281 | 3,843 | ||||||||
| Synopsys Inc (2) | 2,703 | 825,794 | ||||||||
| Texas Instruments Inc | 9,923 | 1,535,882 | ||||||||
| Zoom Video Communications Inc (2) | 7,561 | 556,414 | ||||||||
| 31,895,396 | ||||||||||
| Materials - 0.7% | ||||||||||
| AdvanSix Inc | 148 | 4,751 | ||||||||
| Air Products and Chemicals Inc | 24 | 5,586 | ||||||||
| Alcoa Corp | 249 | 8,381 | ||||||||
| Alpha Metallurgical Resources Inc | 37 | 5,063 | ||||||||
| Avery Dennison Corp | 61 | 9,925 | ||||||||
| CF Industries Holdings Inc | 124 | 11,935 | ||||||||
| Chemours Co/The | 457 | 11,265 | ||||||||
| Dow Inc | 5,476 | 240,561 | ||||||||
| Eagle Materials Inc | 3,431 | 367,735 | ||||||||
| Freeport-McMoRan Inc | 8,407 | 229,763 | ||||||||
| Louisiana-Pacific Corp | 12,068 | 617,761 | ||||||||
| LyondellBasell Industries NV | 2,762 | 207,923 | ||||||||
| Newmont Corp | 535 | 22,486 | ||||||||
| Nucor Corp | 3,039 | 325,143 | ||||||||
| Olin Corp | 212 | 9,091 | ||||||||
| Reliance Steel & Aluminum Co | 56 | 9,767 | ||||||||
| Royal Gold Inc | 119 | 11,165 |
| Ryerson Holding Corp | 462 | 11,892 | ||||||||
| Schnitzer Steel Industries Inc | 681 | 19,381 | ||||||||
| Southern Copper Corp | 1,433 | 64,256 | ||||||||
| Steel Dynamics Inc | 2,012 | 142,751 | ||||||||
| Sylvamo Corp | 230 | 7,797 | ||||||||
| Trinseo PLC | 653 | 11,963 | ||||||||
| United States Steel Corp | 3,643 | 66,011 | ||||||||
| Westrock Co | 429 | 13,252 | ||||||||
| 2,435,604 | ||||||||||
| Real Estate Investment Trust - 0.0% | ||||||||||
| CorEnergy Infrastructure Trust Inc | 5,403 | 8,591 | ||||||||
| Spirit MTA REIT Liquidating Trust (2)(6) | 3,461 | 0 | ||||||||
| 8,591 | ||||||||||
| Utilities - 0.3% | ||||||||||
| AES Corp/The | 822 | 18,577 | ||||||||
| American States Water Co | 591 | 46,068 | ||||||||
| American Water Works Co Inc | 146 | 19,003 | ||||||||
| Brookfield Renewable Corp | 428 | 13,987 | ||||||||
| CenterPoint Energy Inc | 304 | 8,567 | ||||||||
| Clearway Energy Inc | 555 | 17,677 | ||||||||
| FirstEnergy Corp | 145 | 5,365 | ||||||||
| National Fuel Gas Co | 278 | 17,111 | ||||||||
| NRG Energy Inc | 9,943 | 380,519 | ||||||||
| UGI Corp | 14,688 | 474,863 | ||||||||
| Vistra Corp | 3,225 | 67,725 | ||||||||
| Xcel Energy Inc | 73 | 4,673 | ||||||||
| 1,074,135 | ||||||||||
| Total Common Stocks (United States) | (Cost | $ | 115,954,117 | ) | 129,640,018 | |||||
| Preferred Stock (United States) - 0.0% | ||||||||||
| WESCO International, Inc. Series A Variable Preferred (7) | 994 | 26,788 | ||||||||
| Total Preferred Stock (United States) | (Cost | $ | 24,845 | ) | 26,788 | |||||
| Warrants (United States) - 0.0% | ||||||||||
| Chaparral Energy, Inc. A Warrants, Expiration Date 10/14/2024 (2)(6) | 3 | 0 | ||||||||
| Chaparral Energy, Inc. B Warrants, Expiration Date 10/14/2025 (2)(6) | 3 | 0 | ||||||||
| Civitas Solutions, Inc. A Warrants, Expiration Date 1/20/2025 (2)(6) | 22 | 0 | ||||||||
| Civitas Solutions, Inc. B Warrants, Expiration Date 1/20/2026 (2)(6) | 12 | 0 | ||||||||
| Hertz Global Holdings, Inc. Warrants, Expiration Date 6/30/2051 (2) | 157 | 1,397 | ||||||||
| Nabors Industries, Ltd. Warrants, Expiration Date 6/11/2026 (2) | 57 | 1,035 | ||||||||
| Oasis Petroleum, Inc. Warrants, Expiration Date 11/19/2024 (2)(6) | 9 | 0 | ||||||||
| Whiting Petroleum Corp. A Warrants, Expiration Date 9/1/2024 (2) | 56 | 1,204 | ||||||||
| Whiting Petroleum Corp. B Warrants, Expiration Date 9/1/2025 (2) | 28 | 585 | ||||||||
| Total Warrants (United States) | (Cost | $ | 3,304 | ) | 4,221 | |||||
| Registered Investment Companies - 12.0% | ||||||||||
| U.S. Fixed Income - 12.0% | ||||||||||
| Baird Core Plus Bond Fund - Class I | 311,888 | 3,031,547 | ||||||||
| BBH Limited Duration Fund - Class I | 151,163 | 1,498,027 | ||||||||
| Diamond Hill Short Duration Securitized Bond Fund - Class Y | 526,394 | 4,995,479 | ||||||||
| DoubleLine Total Return Bond Fund - Class I | 395,780 | 3,510,571 | ||||||||
| Frost Total Return Bond Fund - Class I | 223,383 | 2,084,166 | ||||||||
| Guggenheim- Total Return Bond Fund - Class I | 64,318 | 1,488,317 | ||||||||
| iShares Core U.S. Aggregate Bond ETF (8) | 133,542 | 12,865,437 | ||||||||
| PGIM Short-Term Corporate Bond Fund - Class Q | 487,571 | 4,909,841 | ||||||||
| Pioneer Bond Fund - Class K | 248,845 | 2,023,108 | ||||||||
| Segall Bryant & Hamill Plus Bond Fund - Class I | 399,662 | 3,576,976 | ||||||||
| Total Registered Investment Companies | (Cost | $ | 42,733,422 | ) | 39,983,469 | |||||
| Money Market Registered Investment Companies - 47.3% | ||||||||||
| Federated Hermes Government Obligations Fund, 2.86% | 42,705,000 | 42,705,000 |
| Meeder Institutional Prime Money Market Fund, 2.85% (3) | 114,927,867 | 114,904,881 | ||||||||
| Total Money Market Registered Investment Companies | (Cost | $ | 157,581,110 | ) | 157,609,881 | |||||
| Bank Obligations - 0.1% | ||||||||||
| First Merchants Bank Deposit Account, 0.55%, 10/1/2022 (4) | 248,232 | 248,232 | ||||||||
| Metro City Bank Deposit Account, 0.05%, 10/1/2022 (4) | 248,869 | 248,869 | ||||||||
| Total Bank Obligations | (Cost | $ | 497,101 | ) | 497,101 | |||||
| Total Investments - 98.3% | (Cost | $ | 316,793,899 | ) | 327,761,478 | |||||
| Other Assets less Liabilities - 1.7% | 5,714,835 | |||||||||
| Total Net Assets - 100.0% | 333,476,313 | |||||||||
| Trustee Deferred Compensation (5) | ||||||||||
| Meeder Balanced Fund - Retail Class | 3,419 | 38,908 | ||||||||
| Meeder Dynamic Allocation Fund - Retail Class | 8,950 | 94,602 | ||||||||
| Meeder Muirfield Fund - Retail Class | 5,927 | 47,653 | ||||||||
| Meeder Conservative Allocation Fund - Retail Class | 996 | 20,637 | ||||||||
| Total Trustee Deferred Compensation | (Cost | $ | 207,200 | ) | 201,800 | |||||
| Futures Contracts |
| Net Long (Short) Contracts | Expiration Date | Notional Value of Contracts ($) | Value and Unrealized Appreciation (Depreciation)($) | |||||||||||
| Index Futures | ||||||||||||||
| E-mini Standard & Poors MidCap 400 Futures | (86 | ) | 12/16/2022 | (18,990,520 | ) | 1,737,588 | ||||||||
| Mini MSCI EAFE Index Futures | 186 | 12/16/2022 | 15,443,580 | (1,622,696 | ) | |||||||||
| Mini MSCI Emerging Markets Index Futures | 65 | 12/16/2022 | 2,832,375 | (319,154 | ) | |||||||||
| Russell 2000 Mini Index Futures | 67 | 12/16/2022 | 5,593,830 | (634,911 | ) | |||||||||
| Standard & Poors 500 Mini Futures | (228 | ) | 12/16/2022 | (41,057,100 | ) | 3,915,704 | ||||||||
| Total Futures Contracts | 4 | (36,177,835 | ) | 3,076,531 | ||||||||||
| (1) | Statement on Financial Accounting Standard No. 157 “Fair Value Measurements” - Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below. |
| • | Level 1 - quoted prices in active markets for identical securities |
| • | 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 Fund’s own assumptions in determining the fair value of investments) |
The following is a summary of the inputs used as of September 30, 2022 in valuing the Fund’s assets carried at fair value:
| Valuation Inputs | Investments in Securities | Other Financial Instruments (9) | ||||||
| Level 1 - Quoted Prices | $ | 327,264,377 | $ | 3,076,531 | ||||
| Level 2 - Other Significant Observable Inputs | 497,101 | - | ||||||
| Level 3 - Significant Unobservable Inputs | - | - | ||||||
| Total | $ | 327,761,478 | $ | 3,076,531 | ||||
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.
| (2) | Represents non-income producing securities. |
| (3) | Investment in affiliate. The yield shown represents the 7-day yield in effect at September 30, 2022. |
| (4) | Variable rate security. Securities payable at par including accrued interest (usually within seven days notice) and unconditionally secured as to principal and interest by letters of credit or other credit support agreements from major banks. The interest rates are adjustable and are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rate shown represents the rate in effect at September 30, 2022. The maturity date shown, if applicable, reflects the earlier of the next demand date or stated maturity date. |
| (5) | Assets of affiliates to the Balanced Fund held for the benefit of the Fund’s Trustees in connection with the Trustee Deferred Compensation Plan. |
| (6) | Fair valued security deemed a Level 3 security. Security is not part of the investment strategy of the Fund. |
| (7) | Preferred stock. |
| (8) | Exchange-traded fund. |
| (9) | Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures contracts, which are valued at the unrealized appreciation/depreciation of the instrument. |