Emerging
Markets
Debt
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income
94.1%
Value
Angola
2.2%
Angola
Government
International
Bond
$
2,917,000
8.250%,
5/9/2028
$
3,018,386
2,000,000
9.244%,
1/15/2031
a,b
2,092,027
3,300,000
8.750%,
4/14/2032
a
3,368,096
3,000,000
9.875%,
3/31/2037
a
3,108,661
2,000,000
9.125%,
11/26/2049
1,877,499
Total
13,464,669
Argentina
3.4%
Argentina
Government
International
Bond
1,152,000
0.750%,
7/9/2030
c
1,005,696
13,700,000
4.125%,
7/9/2035
c
10,829,850
12,700,000
3.500%,
7/9/2041
c
9,385,300
Total
21,220,846
Azerbaijan
0.3%
Azerbaijan
Government
International
Bond
1,900,000
3.500%,
9/1/2032
1,756,453
Total
1,756,453
Bahrain
1.5%
Bahrain
Government
International
Bond
3,000,000
6.250%,
1/25/2051
2,400,680
2,000,000
5.625%,
5/18/2034
a,b
1,754,304
2,000,000
6.625%,
10/6/2037
a
1,796,242
1,000,000
7.100%,
2/3/2038
a
927,806
3,000,000
7.500%,
9/20/2047
a,b
2,761,636
Total
9,640,668
Benin
0.3%
Benin
Government
International
Bond
2,000,000
7.960%,
2/13/2038
2,069,342
Total
2,069,342
Bolivia
0.2%
Bolivia
Government
International
Bond
1,000,000
9.450%,
5/14/2031
a
1,012,500
Total
1,012,500
Brazil
2.3%
Brazil
Government
International
Bond
1,735,000
7.250%,
1/12/2056
1,662,130
5,800,000
4.750%,
1/14/2050
4,100,600
1,000,000
3.875%,
6/12/2030
948,500
1,000,000
5.500%,
11/6/2030
1,002,000
2,000,000
6.000%,
10/20/2033
1,983,000
1,000,000
6.625%,
3/15/2035
1,007,500
1,000,000
6.250%,
5/22/2036
968,500
3,300,000
5.000%,
1/27/2045
2,537,700
Total
14,209,930
Canada
0.9%
Petronas
Energy
Canada,
Ltd.
6,000,000
2.112%,
3/23/2028
a,b
5,764,561
Total
5,764,561
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Cayman
Islands
0.5%
Gaci
First
Investment
Company
$
2,000,000
5.000%,
1/29/2029
$
1,990,532
Oryx
Funding,
Ltd.
1,000,000
5.800%,
2/3/2031
1,015,174
Total
3,005,706
Chile
3.0%
Chile
Government
International
Bond
1,200,000
3.100%,
1/22/2061
700,800
8,500,000
3.500%,
1/25/2050
5,794,450
2,600,000
3.240%,
2/6/2028
2,542,800
7,850,000
2.550%,
7/27/2033
6,586,150
1,000,000
4.340%,
3/7/2042
842,500
Corporacion
Nacional
del
Cobre
de
Chile
2,000,000
6.440%,
1/26/2036
a
2,076,862
Total
18,543,562
Colombia
2.5%
Colombia
Government
International
Bond
1,375,000
3.875%,
4/25/2027
b
1,365,787
1,000,000
6.125%,
1/21/2031
1,000,100
1,500,000
6.500%,
1/21/2033
1,500,750
9,100,000
6.125%,
1/18/2041
8,235,500
Ecopetrol
SA
2,500,000
8.875%,
1/13/2033
2,699,988
1,000,000
8.375%,
1/19/2036
1,056,672
Total
15,858,797
Congo,
Democratic
Republic
Of
0.2%
DRC
Government
International
Bond
1,000,000
8.750%,
4/16/2032
a
1,030,911
Total
1,030,911
Congo,
Republic
Of
0.2%
Congo
(Brazzaville)
Government
International
Bond
1,000,000
9.500%,
2/17/2035
966,604
Total
966,604
Costa
Rica
1.2%
Costa
Rica
Government
International
Bond
1,000,000
7.300%,
11/13/2054
a
1,082,000
6,300,000
7.000%,
4/4/2044
6,621,300
Total
7,703,300
Dominican
Republic
3.0%
Dominican
Republic
Government
International
Bond
1,000,000
5.950%,
1/25/2027
a
1,004,120
3,000,000
5.500%,
2/22/2029
a
2,973,000
3,500,000
4.875%,
9/23/2032
a
3,265,500
1,000,000
5.750%,
3/17/2034
a
966,000
1,900,000
6.850%,
1/27/2045
1,862,000
6,300,000
6.500%,
2/15/2048
a
5,962,950
3,000,000
6.400%,
6/5/2049
a,b
2,790,000
Total
18,823,570
Emerging
Markets
Debt
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Ecuador
2.0%
Ecuador
Government
International
Bond
$
1,076,757
6.900%,
7/31/2030
$
1,069,220
10,551,640
6.900%,
7/31/2035
9,485,925
2,000,000
9.250%,
1/29/2039
a
1,990,000
Total
12,545,145
Egypt
2.2%
Egypt
Government
International
Bond
500,000
7.500%,
2/16/2061
a
415,079
1,000,000
8.750%,
9/30/2051
a
951,552
1,000,000
7.053%,
1/15/2032
a
982,947
1,000,000
7.300%,
9/30/2033
978,257
3,000,000
8.500%,
1/31/2047
2,812,908
8,500,000
7.903%,
2/21/2048
7,493,862
Total
13,634,605
El
Salvador
0.9%
El
Salvador
Government
International
Bond
1,300,000
8.625%,
2/28/2029
1,363,440
4,100,000
7.625%,
2/1/2041
4,120,500
Total
5,483,940
Gabon
0.2%
Gabon
Government
International
Bond
1,500,000
6.625%,
2/6/2031
1,323,571
Total
1,323,571
Ghana
2.1%
Ghana
Government
International
Bond
3,427,914
5.000%,
7/3/2029
a,c
3,356,060
2,214,000
5.000%,
7/3/2029
c
2,167,591
215,171
Zero
Coupon,
1/3/2030
188,665
3,388,000
5.000%,
7/3/2035
c
3,101,897
4,977,488
5.000%,
7/3/2035
a,c
4,557,159
Total
13,371,372
Guatemala
2.1%
Guatemala
Government
International
Bond
1,000,000
6.125%,
6/1/2050
a
958,000
2,200,000
4.375%,
6/5/2027
b
2,187,548
1,000,000
6.050%,
8/6/2031
1,013,000
5,000,000
5.375%,
4/24/2032
4,932,500
2,200,000
6.550%,
2/6/2037
a
2,274,800
2,000,000
4.650%,
10/7/2041
a
1,678,000
Total
13,043,848
Honduras
0.5%
Honduras
Government
International
Bond
1,000,000
5.625%,
6/24/2030
989,300
700,000
8.625%,
11/27/2034
797,475
1,000,000
6.400%,
7/29/2036
a
995,000
Total
2,781,775
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Hungary
2.5%
Hungary
Government
International
Bond
$
2,200,000
3.125%,
9/21/2051
$
1,327,416
3,000,000
5.250%,
6/16/2029
a
3,016,805
1,500,000
2.125%,
9/22/2031
1,286,769
3,000,000
6.250%,
9/22/2032
a
3,129,325
1,500,000
6.000%,
9/26/2035
a
1,526,779
2,500,000
7.625%,
3/29/2041
2,874,324
Magyar
Export-Import
Bank
Zrt
2,500,000
6.125%,
12/4/2027
a
2,527,045
Total
15,688,463
Indonesia
3.2%
Indonesia
Government
International
Bond
3,700,000
4.100%,
4/24/2028
3,679,767
3,400,000
6.625%,
2/17/2037
a
3,586,815
1,000,000
7.750%,
1/17/2038
a
1,148,219
726,000
6.750%,
1/15/2044
a
763,394
2,700,000
5.125%,
1/15/2045
a,b
2,376,299
1,200,000
5.250%,
1/8/2047
a
1,067,185
1,500,000
4.350%,
1/11/2048
1,156,602
Pertamina
Persero
PT
500,000
6.450%,
5/30/2044
489,395
Perusahaan
Listrik
Negara
(Persero)
PT
1,000,000
4.375%,
2/5/2050
705,039
2,400,000
5.250%,
10/24/2042
2,033,652
Perusahaan
Penerbit
SBSN
Indonesia
III
1,500,000
4.150%,
3/29/2027
a
1,502,670
1,500,000
4.400%,
6/6/2027
a
1,504,424
Total
20,013,461
Ivory
Coast
1.8%
Ivory
Coast
Government
International
Bond
7,000,000
6.125%,
6/15/2033
6,782,041
1,000,000
8.075%,
4/1/2036
a,b
1,066,819
3,000,000
8.250%,
1/30/2037
a,b
3,227,942
Total
11,076,802
Jersey
0.8%
Galaxy
Pipeline
Assets
Bidco,
Ltd.
3,299,350
2.160%,
3/31/2034
2,913,078
2,500,000
2.625%,
3/31/2036
a
2,137,714
Total
5,050,792
Jordan
0.8%
Jordan
Government
International
Bond
2,500,000
7.500%,
1/13/2029
a
2,582,436
2,500,000
5.850%,
7/7/2030
2,498,287
Total
5,080,723
Kazakhstan
1.3%
Kazakhstan
Government
International
Bond
3,000,000
6.500%,
7/21/2045
3,132,559
KazMunayGas
National
Company
JSC
2,200,000
5.750%,
4/19/2047
1,986,629
Emerging
Markets
Debt
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Kazakhstan
1.3%-
continued
QazaqGaz
NC
JSC
$
3,000,000
5.625%,
5/8/2036
a
$
2,904,418
Total
8,023,606
Kenya
0.6%
Kenya
Government
International
Bond
1,006,000
8.000%,
5/22/2032
1,006,605
1,000,000
7.875%,
2/26/2034
a
966,367
2,000,000
8.800%,
10/9/2038
a
1,945,790
Total
3,918,762
Lebanon
0.4%
Lebanon
Government
International
Bond
8,000,000
6.650%,
4/22/2024
d
2,130,600
2,000,000
6.850%,
3/23/2027
d
545,422
Total
2,676,022
Luxembourg
0.6%
Greensaif
Pipelines
Bidco
SARL
2,000,000
5.853%,
2/23/2036
a
1,987,239
2,000,000
6.129%,
2/23/2038
a
2,001,959
Total
3,989,198
Malaysia
2.1%
Petronas
Capital,
Ltd.
6,500,000
4.550%,
4/21/2050
5,338,551
6,400,000
3.500%,
4/21/2030
6,094,876
1,500,000
5.340%,
4/3/2035
a
1,500,152
Total
12,933,579
Mexico
5.1%
Mexico
Government
International
Bond
7,240,000
6.338%,
5/4/2053
6,450,840
2,047,000
5.850%,
7/2/2032
2,046,079
2,000,000
5.375%,
3/22/2033
1,924,600
1,000,000
3.500%,
2/12/2034
835,500
2,000,000
6.000%,
5/7/2036
1,942,400
1,750,000
6.250%,
8/27/2037
1,703,193
1,000,000
6.125%,
2/9/2038
955,000
1,800,000
6.050%,
1/11/2040
1,692,900
1,000,000
4.600%,
2/10/2048
720,500
Petroleos
Mexicanos
11,300,000
7.690%,
1/23/2050
10,080,121
1,700,000
5.950%,
1/28/2031
1,665,174
1,600,000
6.625%,
6/15/2035
b
1,517,441
Total
31,533,748
Montenegro
0.2%
Montenegro
Government
International
Bond
1,000,000
7.250%,
3/12/2031
a
1,048,215
Total
1,048,215
Morocco
0.5%
Morocco
Government
International
Bond
3,000,000
4.000%,
12/15/2050
2,057,264
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Morocco
0.5%-
continued
OCP
SA
$
1,500,000
5.125%,
6/23/2051
$
1,148,028
Total
3,205,292
Mozambique
0.1%
Mozambique
Government
International
Bond
1,000,000
9.000%,
9/15/2031
905,581
Total
905,581
Netherlands
0.5%
AES
Andres
BV
1,000,000
5.700%,
5/4/2028
a,b
991,250
Petrobras
Global
Finance
BV
2,000,000
5.125%,
9/10/2030
1,950,300
Total
2,941,550
Nigeria
2.7%
Nigeria
Government
International
Bond
2,000,000
6.500%,
11/28/2027
2,012,288
7,100,000
7.875%,
2/16/2032
7,450,598
2,000,000
7.375%,
9/28/2033
a
2,046,771
3,000,000
7.696%,
2/23/2038
3,055,783
2,000,000
9.130%,
1/13/2046
a
2,205,968
Total
16,771,408
Oman
1.6%
Oman
Government
International
Bond
3,000,000
5.625%,
1/17/2028
a,b
3,020,052
6,800,000
6.750%,
1/17/2048
a,b
7,076,600
Total
10,096,652
Pakistan
0.7%
Pakistan
Government
International
Bond
3,500,000
6.875%,
12/5/2027
3,520,918
1,000,000
7.375%,
4/8/2031
a
982,018
Total
4,502,936
Panama
2.1%
Aeropuerto
Internacional
de
Tocumen
SA
2,000,000
4.000%,
8/11/2041
a
1,691,420
Panama
Bonos
del
Tesoro
1,000,000
3.362%,
6/30/2031
895,610
Panama
Government
International
Bond
4,800,000
4.500%,
4/16/2050
3,643,200
3,279,000
6.700%,
1/26/2036
3,438,031
2,000,000
8.000%,
3/1/2038
2,287,000
1,500,000
4.500%,
5/15/2047
1,179,300
Total
13,134,561
Paraguay
1.1%
Paraguay
Government
International
Bond
4,800,000
5.400%,
3/30/2050
4,195,200
1,000,000
5.850%,
8/21/2033
a
1,013,000
1,000,000
6.100%,
8/11/2044
979,000
Emerging
Markets
Debt
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Paraguay
1.1%-
continued
$
1,000,000
5.600%,
3/13/2048
$
903,000
Total
7,090,200
Peru
3.0%
Corporacion
Financiera
de
Desarrollo
SA
1,000,000
5.500%,
5/6/2030
a
1,007,580
Peru
Government
International
Bond
7,000,000
2.783%,
1/23/2031
6,387,500
4,000,000
3.000%,
1/15/2034
3,380,000
8,500,000
3.300%,
3/11/2041
6,353,750
Petroleos
del
Peru
SA
1,800,000
5.625%,
6/19/2047
a
1,288,530
Total
18,417,360
Philippines
2.0%
Philippines
Government
International
Bond
3,000,000
3.750%,
1/14/2029
2,940,985
5,025,000
7.750%,
1/14/2031
5,585,265
625,000
6.375%,
10/23/2034
660,118
1,500,000
4.750%,
3/5/2035
1,421,249
2,420,000
3.950%,
1/20/2040
1,987,012
Total
12,594,629
Poland
1.2%
Bank
Gospodarstwa
Krajowego
1,500,000
5.375%,
5/22/2033
a
1,502,686
Poland
Government
International
Bond
3,000,000
5.500%,
4/4/2053
2,695,458
3,000,000
4.875%,
10/4/2033
2,936,074
500,000
5.375%,
2/12/2035
498,706
Total
7,632,924
Qatar
0.1%
QatarEnergy
1,000,000
3.125%,
7/12/2041
a
724,166
Total
724,166
Romania
3.4%
Romania
Government
International
Bond
4,100,000
4.000%,
2/14/2051
2,663,026
2,000,000
3.000%,
2/27/2027
1,978,015
6,000,000
5.250%,
11/25/2027
a
6,003,039
3,500,000
3.000%,
2/14/2031
3,112,054
2,000,000
7.125%,
1/17/2033
a
2,099,424
2,500,000
6.375%,
1/30/2034
a
2,501,118
1,000,000
5.750%,
3/24/2035
a
954,634
2,000,000
7.500%,
2/10/2037
a
2,128,205
Total
21,439,515
Saudi
Arabia
4.4%
Saudi
Arabia
Government
International
Bond
10,100,000
3.750%,
1/21/2055
6,596,565
6,300,000
3.250%,
10/26/2026
a
6,286,692
1,000,000
5.125%,
1/13/2028
a
1,003,820
4,000,000
3.625%,
3/4/2028
a,b
3,927,708
1,300,000
4.375%,
4/16/2029
a
1,280,239
500,000
2.250%,
2/2/2033
a
417,876
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Saudi
Arabia
4.4%-
continued
$
1,000,000
4.875%,
1/12/2036
a,b
$
956,599
2,500,000
4.500%,
10/26/2046
1,967,780
Saudi
Arabian
Oil
Company
4,500,000
2.250%,
11/24/2030
a
3,985,900
1,000,000
5.000%,
2/2/2036
a
960,627
Total
27,383,806
Senegal
0.2%
Senegal
Government
International
Bond
1,700,000
6.250%,
5/23/2033
890,148
1,000,000
6.750%,
3/13/2048
510,476
Total
1,400,624
Serbia
1.0%
Serbia
Government
International
Bond
2,000,000
6.250%,
5/26/2028
a,b
2,031,945
4,000,000
6.500%,
9/26/2033
a
4,140,636
Total
6,172,581
South
Africa
3.3%
Eskom
Holdings
SOC,
Ltd.
5,000,000
6.350%,
8/10/2028
a
5,095,356
3,000,000
8.450%,
8/10/2028
3,153,643
South
Africa
Government
International
Bond
3,000,000
7.100%,
11/19/2036
a
3,143,697
2,500,000
6.250%,
3/8/2041
2,338,575
2,000,000
5.375%,
7/24/2044
1,639,205
6,100,000
5.650%,
9/27/2047
4,974,298
Total
20,344,774
Sri
Lanka
0.9%
Sri
Lanka
Government
International
Bond
853,846
4.000%,
4/15/2028
a
820,222
1,638,280
3.350%,
3/15/2033
a,c
1,556,258
946,400
3.600%,
6/15/2035
a,c
777,617
1,142,640
3.600%,
5/15/2036
a,c
1,143,394
1,286,240
3.600%,
2/15/2038
a,c
1,294,546
Total
5,592,037
Suriname
0.3%
Suriname
Government
International
Bond
1,000,000
7.700%,
11/6/2030
a,b
1,025,000
1,000,000
8.500%,
11/6/2035
a,b
1,072,500
Total
2,097,500
Trinidad
and
Tobago
0.6%
Port
of
Spain
Waterfront
Development
933,333
7.875%,
2/19/2040
a
963,667
Telecommunications
Services
of
Trinidad
and
Tobago,
Ltd.
2,000,000
8.875%,
10/18/2029
a
2,026,800
Trinidad
&
Tobago
Government
International
Bond
1,000,000
6.200%,
7/16/2038
a
977,500
Total
3,967,967
Emerging
Markets
Debt
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Turkey
3.4%
TC
Ziraat
Bankasi
AS
$
2,000,000
7.250%,
2/4/2030
a
$
2,005,827
Turkiye
Government
International
Bond
3,600,000
6.125%,
10/24/2028
3,607,012
3,000,000
7.125%,
2/12/2032
3,014,665
3,800,000
6.500%,
9/20/2033
3,675,889
3,435,000
6.750%,
5/30/2040
b
3,221,058
2,000,000
6.000%,
1/14/2041
1,708,861
1,000,000
4.875%,
4/16/2043
725,073
1,800,000
5.750%,
5/11/2047
1,395,957
Turkiye
Ihracat
Kredi
Bankasi
AS
2,000,000
6.125%,
5/2/2029
a,b
1,970,088
Total
21,324,430
Ukraine
1.4%
Ukraine
Government
International
Bond
74,612
Zero
Coupon,
2/1/2030
a,c
54,530
375,226
Zero
Coupon,
2/1/2030
c
274,234
1,402,166
Zero
Coupon,
2/1/2034
c
794,810
278,813
Zero
Coupon,
2/1/2034
a,c
158,043
2,132,932
4.500%,
2/1/2034
c
1,484,158
409,769
4.500%,
2/1/2034
a,c
285,130
1,184,929
Zero
Coupon,
2/1/2035
c
706,344
235,617
Zero
Coupon,
2/1/2035
a,c
140,453
3,310,025
4.500%,
2/1/2035
c
2,275,210
546,358
4.500%,
2/1/2035
a,c
375,550
2,426,201
4.500%,
2/1/2036
c
1,647,947
409,769
4.500%,
2/1/2036
a,c
278,327
Total
8,474,736
United
Arab
Emirates
1.7%
Abu
Dhabi
Government
International
Bond
8,500,000
2.500%,
9/30/2029
a
7,918,510
Emirate
of
Sharjah
Government
International
Bond
4,800,000
4.000%,
7/28/2050
a
2,950,949
Total
10,869,459
United
Kingdom
0.2%
NAK
Naftogaz
Ukraine
via
Kondor
Finance
plc
1,167,560
7.625%,PIK
0.000%,
11/8/2028
a,e
1,050,984
Total
1,050,984
Uruguay
1.6%
Uruguay
Government
International
Bond
2,500,000
4.975%,
4/20/2055
2,133,750
2,000,000
5.100%,
6/18/2050
1,765,000
6,340,312
4.375%,
1/23/2031
6,318,121
Total
10,216,871
Uzbekistan
1.4%
Uzbekistan
Government
International
Bond
1,000,000
7.850%,
10/12/2028
a
1,048,945
1,000,000
3.700%,
11/25/2030
925,139
3,000,000
3.900%,
10/19/2031
a
2,753,086
1,000,000
6.947%,
5/25/2032
a,b
1,057,796
Principal
Amount
Long-Term
Fixed
Income 94.1%
Value
Uzbekistan
1.4%-
continued
Uzbekneftegaz
JSC
$
3,000,000
4.750%,
11/16/2028
a,b
$
2,886,610
Total
8,671,576
Venezuela
1.9%
Petroleos
de
Venezuela
SA
2,000,000
9.000%,
11/17/2021
d
862,741
1,000,000
12.750%,
2/17/2022
d
495,000
10,500,000
6.000%,
11/15/2026
d
3,953,250
Venezuela
Government
International
Bond
2,800,000
12.750%,
8/23/2022
d
1,551,228
7,000,000
9.000%,
5/7/2023
d
3,360,000
2,500,000
11.750%,
10/21/2026
d
1,362,500
Total
11,584,719
Virgin
Islands,
British
1.6%
Sinopec
Group
Overseas
Development
2017,
Ltd.
3,000,000
3.625%,
4/12/2027
2,983,514
Sinopec
Group
Overseas
Development
2018,
Ltd.
4,200,000
2.300%,
1/8/2031
3,813,081
State
Grid
Overseas
Investment
2016,
Ltd.
3,000,000
3.500%,
5/4/2027
2,979,813
Total
9,776,408
Zambia
0.1%
Zambia
Government
International
Bond
672,730
5.750%,
6/30/2033
c
657,891
Total
657,891
Total
Long-Term
Fixed
Income
(cost
$595,288,966)
587,332,183
Shares
Collateral
Held
for
Securities
Loaned
1.6%
10,224,550
Thrivent
Cash
Management
Trust
10,224,550
Total
Collateral
Held
for
Securities
Loaned
(cost
$10,224,550)
10,224,550
Shares
or
Principal
Amount
Short-Term
Investments
4.7%
State
Street
Institutional
U.S.
Government
Money
Market
Fund
28,975,189
3.619%
f
28,975,189
Total
Short-Term
Investments
(cost
$28,975,189)
28,975,189
Total
Investments
(cost
$634,488,705)
100.4%
$626,531,922
Other
Assets
and
Liabilities,
Net
(0.4%)
(2,370,751)
Total
Net
Assets
100.0%
$624,161,171
Emerging
Markets
Debt
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
a
Denotes
securities
sold
under
Rule
144A
of
the
Securities
Act
of
1933,
which
exempts
them
from
registration.
These
securities
may
be
resold
to
other
dealers
in
the
program
or
to
other
qualified
institutional
buyers.
As
of
July
31,
2026,
the
value
of
these
investments
was
$212,473,672
or
34.0%
of
total
net
assets.
b
All
or
a
portion
of
the
security
is
on
loan.
c
Denotes
step
coupon
securities.
Step
coupon
securities
pay
an
initial
coupon
rate
for
the
first
period
and
then
different
coupon
rates
for
following
periods.
The
rate
shown
is
as
of
July
31,
2026.
d
Defaulted
security. Interest
is
not
being
accrued.
e
Denotes
payment-in-kind
security. The
security
may
pay
an
interest
or
dividend
payment
with
additional
fixed
income
or
equity
securities
in
lieu
of,
or
in
addition
to
a
cash
payment. The
cash
rate
and/or
payment-in-kind
rate
shown
are
as
of
July
31,
2026.
f
The
interest
rate
shown
reflects
the
yield.
The
following
table
presents
the
total
amount
of
securities
loaned
with
continuous
maturity,
by
type,
offset
by
the
gross
payable
upon
return
of
collateral
for
securities
loaned
by
Emerging
Markets
Debt
Fund
as
of
July
31,
2026:
Securities
Lending
Transactions
Long-Term
Fixed
Income
$
9,928,152
Total
lending
$9,928,152
Gross
amount
payable
upon
return
of
collateral
for
securities
loaned
$10,224,550
Net
amounts
due
to
counterparty
$296,398
Definitions:
PIK
-
Payment-In-Kind
plc
-
Public
Limited
Company
Fair
Valuation
Measurements
The
following
table
is
a
summary
of
the
inputs
used,
as
of
July
31,
2026,
in
valuing
Emerging
Markets
Debt
Fund's
assets
carried
at
fair
value.
Investments
in
Securities
Total
Level
1
Level
2
Level
3
Long-Term
Fixed
Income
Communications
Services
2,026,800
–
2,026,800
–
Energy
9,039,990
–
9,039,990
–
Foreign
Government
575,274,143
–
575,274,143
–
Utilities
991,250
–
991,250
–
Short-Term
Investments
28,975,189
28,975,189
–
–
Subtotal
Investments
in
Securities
$616,307,372
$28,975,189
$587,332,183
$–
Other
Investments *
Total
Collateral
Held
for
Securities
Loaned
10,224,550
Subtotal
Other
Investments
$10,224,550
Total
Investments
at
Value
$626,531,922
*
Certain
investments
are
measured
at
fair
value
using
a
net
asset
value
per
share
that
is
not
publicly
available
(practical
expedient). According
to
disclosure
requirements
of
Accounting
Standards
Codification
(ASC)
820,
Fair
Value
Measurement,
securities
valued
using
the
practical
expedient
are
not
classified
in
the
fair
value
hierarchy. The
fair
value
amounts
presented
in
the
table
above
are
intended
to
permit
reconciliation
of
the
fair
value
hierarchy
to
the
amounts
presented
in
the
Statement
of
Assets
and
Liabilities.
Emerging
Markets
Debt
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Investment
in
Affiliates
Affiliated
issuers,
as
defined
under
the
Investment
Company
Act
of
1940,
include
those
in
which
the
Portfolio's
holdings
of
an
issuer
represent
5%
or
more
of
the
outstanding
voting
securities
of
an
issuer,
any
affiliated
fund,
or
a
company
which
is
under
common
ownership
or
control
with
the
Portfolio.
A
summary
of
transactions
(in
thousands;
values
shown
as
zero
are
less
than
$500)
for
the
fiscal
year
to
date,
in
Emerging
Markets
Debt
Fund,
is
as
follows:
Portfolio
Value
10/31/2025
Gross
Purchases
Gross
Sales
Value
7/31/2026
Shares
Held
at
7/31/2026
%
of
Net
Assets
7/31/2026
Collateral
held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$7,423
$115,007
$112,205
$10,225
10,225
1.6%
Total
Collateral
Held
for
Securities
Loaned
7,423
10,225
1.6
Total
Value
$7,423
$10,225
Portfolio
Net
Realized
Gain/(Loss)
Change
in
Unrealized
Appreciation/
(Depreciation)
Distributions
of
Realized
Capital
Gains
Income
Earned
11/1/2025
-
7/31/2026
Collateral
Held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$–
$–
$–
$52
Total
Affiliated
Income
from
Securities
Loaned,
Net
$52
Total
Value
$–
$–
$–
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Shares
Common
Stock
97.0%
Value
Bermuda
0.2%
3,801
Credicorp,
Ltd.
$
1,522,604
26,000
Orient
Overseas
International,
Ltd.
508,420
Total
2,031,024
Brazil
3.7%
167,900
Alupar
Investimento
SA
1,083,749
93,500
Ambev
SA
294,381
40,929
Axia
Energia
SA
ADR
428,527
98,500
Banco
ABC
Brasil
SA
470,431
444,258
Banco
Bradesco
SA
ADR
1,603,771
423,900
Banco
do
Brasil
SA
1,776,163
649,300
Banco
do
Estado
do
Rio
Grande
do
Sul
SA
1,793,239
189,700
BB
Seguridade
Participacoes
SA
1,538,063
1,599,990
Cogna
Educacao
SA
729,112
143,255
Companhia
de
Saneamento
Basico
do
Estado
de
Sao
Paulo
ADR
a
780,740
62,260
Companhia
Energetica
de
Minas
Gerais
ADR
136,349
6,622
Companhia
Paranaense
de
Energia
-
COPEL
ADR
77,676
4,400
CPFL
Energia
SA
40,058
147,546
Cury
Construtora
e
Incorporadora
SA
873,200
16,900
Cyrela
Brazil
Realty
SA
Empreendimentos
e
Participacoes
71,412
340,700
Direcional
Engenharia
SA
759,478
171,000
Itau
Unibanco
Holding
SA
1,539,933
563,870
Itau
Unibanco
Holding
SA
ADR
4,770,340
421,700
JHSF
Participacoes
SA
925,067
57,300
M.
Dias
Branco
SA
194,197
698,088
Metalurgica
Gerdau
SA
1,505,204
310,480
Petroleo
Brasileiro
SA
-
Petrobras
ADR
6,023,312
132,000
TIM
SA/Brazil
504,913
471,400
Usinas
Siderurgicas
de
Minas
Gerais
SA
Usiminas
b
680,715
231,935
Vale
SA
ADR
3,492,941
Total
32,092,971
Cayman
Islands
7.7%
933,104
Alibaba
Group
Holding,
Ltd.
14,214,350
31,600
Baidu,
Inc.
b
437,742
268,500
China
Hongqiao
Group,
Ltd.
844,879
200,500
China
Resources
Land,
Ltd.
848,239
1,527,000
Consun
Pharmaceutical
Group,
Ltd.
2,669,065
547,000
Geely
Automobile
Holdings,
Ltd.
1,381,031
28,729
Hello
Group,
Inc.
ADR
172,087
77,000
Hengan
International
Group
Company,
Ltd.
242,901
10,863
Huazhu
Group,
Ltd.
ADR
463,741
54,600
JD.com,
Inc.
898,169
12,523
JOYY,
Inc.
ADR
921,317
187,000
Kingboard
Holdings,
Ltd.
935,188
45,000
Kingboard
Laminates
Holdings,
Ltd.
167,641
366,500
Li
Ning
Company,
Ltd.
708,012
218,500
NetDragon
Websoft
Holdings,
Ltd.
224,579
37,108
NetEase,
Inc.
ADR
4,945,383
106,492
NU
Holdings,
Ltd./Cayman
Islands
b
1,526,031
91,930
Pagseguro
Digital,
Ltd.
886,205
7,112
PDD
Holdings,
Inc.
ADR
b
629,839
4,912,000
Shui
On
Land,
Ltd.
b
338,607
Shares
Common
Stock 97.0%
Value
Cayman
Islands
7.7%-
continued
256,300
Sunny
Optical
Technology
(Group)
Company,
Ltd.
$
1,831,818
451,100
Tencent
Holdings,
Ltd.
27,563,557
296,000
WuXi
Biologics
(Cayman),
Inc.
b,c
1,460,910
460,800
Xiaomi
Corporation
b,c
1,690,898
54,650
ZTO
Express
Cayman,
Inc.
1,307,840
Total
67,310,029
Chile
0.3%
348,642
Aguas
Andinas
SA
127,307
18,578
Banco
de
Chile
ADR
768,200
2,875
Banco
de
Credito
e
Inversiones
SA
206,870
26,581
Banco
Santander
Chile
SA
ADR
919,969
2,738,885
Colbun
SA
409,441
8,122,564
Latam
Airlines
Group
SA
216,136
Total
2,647,923
China
12.4%
996,000
Agricultural
Bank
of
China,
Ltd.,
Class
H
800,764
1,096,000
Aluminum
Corporation
of
China,
Ltd.,
Class
H
1,193,424
100,000
Anhui
Expressway
Company,
Ltd.
199,684
64,300
Anjoy
Foods
Group
Company,
Ltd.
618,831
3,848,500
BAIC
Motor
Corporation,
Ltd.
b,c
427,426
5,155,000
Bank
of
China,
Ltd.,
Class
H
3,616,260
93,900
Bank
of
Ningbo
Company,
Ltd.
443,647
458,700
Bank
of
Suzhou
Company,
Ltd.
577,553
597,300
BOE
Technology
Group
Company,
Ltd.
486,267
27,200
Chaozhou
Three-Circle
Group
Company,
Ltd.
445,591
83,200
Chifeng
Jilong
Gold
Mining
Group,
Ltd.
490,019
3,419,000
China
CITIC
Bank
Corporation,
Ltd.,
Class
H
3,371,234
1,634,000
China
Coal
Energy
Company,
Ltd.
2,239,599
5,809,000
China
Construction
Bank
Corporation,
Class
H
6,816,431
258,900
China
Galaxy
Securities
Company,
Ltd.
484,383
107,900
China
International
Capital
Corporation,
Ltd.,
Class
A
564,521
756,800
China
International
Capital
Corporation,
Ltd.,
Class
H
c
2,087,218
73,600
China
Life
Insurance
Company,
Ltd.,
Class
A
430,409
1,110,000
China
Life
Insurance
Company,
Ltd.,
Class
H
4,132,466
382,000
China
Merchants
Bank
Company,
Ltd.,
Class
H
2,478,446
1,255,500
China
Minsheng
Banking
Corporation,
Ltd.
580,922
436,500
China
National
Chemical
Engineering
Company,
Ltd.
506,830
135,100
China
Pacific
Insurance
(Group)
Company,
Ltd.,
Class
A
646,425
992,200
China
Pacific
Insurance
(Group)
Company,
Ltd.,
Class
H
3,872,628
3,648,000
China
Petroleum
&
Chemical
Corporation,
Class
H
2,061,583
877,000
China
Railway
Group,
Ltd.
403,765
152,500
China
Resources
Sanjiu
Medical
&
Pharmaceutical
Company,
Ltd.
583,715
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Shares
Common
Stock 97.0%
Value
China
12.4%-
continued
165,000
China
Shenhua
Energy
Company,
Ltd.,
Class
H
$
914,079
466,000
Chongqing
Rural
Commercial
Bank
Company,
Ltd.
390,055
164,990
CITIC
Securities
Company,
Ltd.,
Class
A
694,497
449,500
CITIC
Securities
Company,
Ltd.,
Class
H
1,569,154
966,000
CMOC
Group,
Ltd.,
Class
H
2,081,949
24,200
Contemporary
Amperex
Technology
Company,
Ltd.,
Class
A
1,418,718
18,500
Contemporary
Amperex
Technology
Company,
Ltd.,
Class
H
1,464,548
252,800
COSCO
SHIPPING
Holdings
Company,
Ltd.,
Class
A
584,891
1,317,500
COSCO
SHIPPING
Holdings
Company,
Ltd.,
Class
H
2,650,440
41,100
Fiberhome
Telecommunication
Technologies
Company,
Ltd.
200,420
184,600
Guotai
Haitong
Securities
Company,
Ltd.
501,579
286,700
Hangzhou
First
Applied
Material
Company,
Ltd.
622,691
78,700
Hangzhou
Silan
Microelectronics
Company,
Ltd.
328,640
355,400
Hengli
Petrochemical
Company,
Ltd.
879,241
54,900
Hengtong
Optic-Electric
Company,
Ltd.
385,032
1,320,000
Huaneng
Power
International,
Inc.,
Class
H
1,014,433
397,600
Huatai
Securities
Company,
Ltd.,
Class
H
c
857,111
240,880
HUAYU
Automotive
Systems
Company,
Ltd.
601,400
84,300
iFLYTEK
Company,
Ltd.
526,578
6,280,000
Industrial
and
Commercial
Bank
of
China,
Ltd.,
Class
H
6,007,370
322,400
Inner
Mongolia
Junzheng
Energy
&
Chemical
Industry
Group
Company,
Ltd.
226,211
112,900
Inner
Mongolia
Yili
Industrial
Group
Company,
Ltd.
452,995
292,900
Jiangsu
Eastern
Shenghong
Company,
Ltd.
b
510,397
2,900
Kweichow
Moutai
Company,
Ltd.
580,468
116,800
Legend
Holdings
Corporation
c
195,537
1,126,000
Lenovo
Group,
Ltd.
3,443,525
169,400
Midea
Group
Company,
Ltd.
2,146,260
67,600
New
China
Life
Insurance
Company,
Ltd.,
Class
A
631,337
408,000
New
China
Life
Insurance
Company,
Ltd.,
Class
H
2,515,865
158,900
Ningxia
Baofeng
Energy
Group
Company,
Ltd.
547,161
318,500
PetroChina
Company,
Ltd.,
Class
A
524,362
3,670,000
PetroChina
Company,
Ltd.,
Class
H
4,669,929
83,100
Ping
An
Insurance
(Group)
Company
of
China,
Ltd.,
Class
A
675,020
575,500
Ping
An
Insurance
(Group)
Company
of
China,
Ltd.,
Class
H
4,299,431
6,146
Piotech,
Inc.
604,580
25,166
Raytron
Technology
Company,
Ltd.
526,647
Shares
Common
Stock 97.0%
Value
China
12.4%-
continued
416,000
Rongsheng
Petrochemical
Company,
Ltd.
$
762,019
261,800
SAIC
Motor
Corporation,
Ltd.
439,131
230,100
Sanan
Optoelectronics
Company,
Ltd.
b
417,362
124,800
Sany
Heavy
Industry
Company,
Ltd.
380,065
163,254
Satellite
Chemical
Company,
Ltd.
612,120
150,020
Shandong
Hualu
Hengsheng
Chemical
Company,
Ltd.
479,127
654,900
Shandong
Nanshan
Aluminum
Company,
Ltd.
458,583
167,300
Shanghai
Baosight
Software
Company,
Ltd.
461,019
22,813
Shanghai
BOCHU
Electronic
Technology
Corporation,
Ltd.
354,146
387,100
Shanghai
Electric
Group
Company,
Ltd.
395,649
86,700
Shanghai
Fosun
Pharmaceutical
Group
Company,
Ltd.
298,357
29,100
Shengyi
Technology
Company,
Ltd.
455,024
422,800
Sinopharm
Group
Company,
Ltd.
937,599
45,900
Spring
Airlines
Company,
Ltd.
320,079
1,923,575
TCL
Technology
Group
Corporation
1,346,924
562,000
Tong
Ren
Tang
Technologies
Company,
Ltd.
252,114
23,600
TongFu
Microelectronics
Company,
Ltd.
198,334
51,600
Wanhua
Chemical
Group
Company,
Ltd.
568,821
71,600
Weichai
Power
Company,
Ltd.,
Class
A
296,552
593,000
Wuhan
Guide
Infrared
Company,
Ltd.
b
1,105,630
22,100
WuXi
AppTec
Company,
Ltd.,
Class
A
420,307
101,000
WuXi
AppTec
Company,
Ltd.,
Class
H
c
2,071,232
268,200
XCMG
Construction
Machinery
Company,
Ltd.
356,057
157,000
Xinhua
Winshare
Publishing
and
Media
Company,
Ltd.
199,591
20,500
Yangtze
Optical
Fibre
&
Cable
Joint
Stock,
Ltd.
Company
c
248,657
69,600
Yunnan
Aluminium
Company,
Ltd.
275,114
191,600
Zhejiang
Century
Huatong
Group
Company,
Ltd.
384,325
156,800
Zhejiang
Chint
Electrics
Company,
Ltd.
586,020
320,200
Zhejiang
Dahua
Technology
Company,
Ltd.
792,189
140,365
Zhejiang
NHU
Company,
Ltd.
624,279
200
Zhongji
Innolight
Company,
Ltd.
26,633
956,000
Zijin
Mining
Group
Company,
Ltd.,
Class
H
4,059,159
406,700
Zoomlion
Heavy
Industry
Science
and
Technology
Company,
Ltd.,
Class
A
458,033
Total
107,842,843
Colombia
0.2%
41,449
Grupo
Cibest
SA
1,174,753
1,613
Grupo
Cibest
SA
ADR
149,235
Total
1,323,988
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Shares
Common
Stock 97.0%
Value
Cyprus
<
–%
71,245
Ros
Agro
plc
GDR
b,d,e
$
0
Total
0
Czech
Republic
0.1%
92,722
Moneta
Money
Bank
AS
c
848,526
285
Philip
Morris
CR
254,298
Total
1,102,824
Egypt
<
0.1%
143,799
Commercial
International
Bank
Egypt
SAE
GDR
388,976
Total
388,976
Greece
0.9%
17,365
Aegean
Airlines
SA
244,305
383,947
Eurobank
SA
1,984,065
13,686
HELLENiQ
ENERGY
Holdings
SA
205,166
25,655
Motor
Oil
(Hellas)
Corinth
Refineries
SA
1,502,870
117,301
National
Bank
of
Greece
SA
2,194,826
112,899
Piraeus
Bank
SA
b
1,316,861
Total
7,448,093
Hong
Kong
1.0%
968,000
China
Everbright
Environment
Group,
Ltd.
630,370
260,000
China
Nonferrous
Mining
Corporation,
Ltd.
490,640
505,000
China
Overseas
Grand
Oceans
Group,
Ltd.
157,777
812,000
China
Resources
Pharmaceutical
Group,
Ltd.
c
502,493
401,400
China
Taiping
Insurance
Holdings
Company,
Ltd.
1,126,200
1,796,000
CITIC,
Ltd.
2,826,953
254,000
CSPC
Pharmaceutical
Group,
Ltd.
277,854
1,547,000
Genertec
Universal
Medical
Group
Company,
Ltd.
c
961,465
854,000
Guangdong
Investment,
Ltd.
921,623
19,000
Hua
Hong
Grace
Semiconductor,
Ltd.
b,c
309,644
217,000
Weichai
Power
Company,
Ltd.,
Class
H
907,321
Total
9,112,340
Hungary
0.6%
113,416
MOL
Hungarian
Oil
&
Gas
plc
1,623,842
25,390
OTP
Bank
Nyrt
3,761,322
Total
5,385,164
India
9.6%
46,490
Aditya
Birla
Sun
Life
Asset
Management
Company,
Ltd.
492,594
3,524
AIA
Engineering,
Ltd.
169,516
20,382
Anand
Rathi
Wealth,
Ltd.
442,890
13,700
Apollo
Hospitals
Enterprise,
Ltd.
1,285,298
9,024
Asian
Paints,
Ltd.
259,577
36,376
Aurobindo
Pharma,
Ltd.
602,143
97,088
Axis
Bank,
Ltd.
1,250,234
10,818
Bajaj
Auto,
Ltd.
1,305,846
446,529
Bharat
Petroleum
Corporation,
Ltd.
1,492,290
257,078
Bharti
Airtel,
Ltd.
5,311,058
14,193
Ceat,
Ltd.
509,998
Shares
Common
Stock 97.0%
Value
India
9.6%-
continued
241,686
Chambal
Fertilisers
and
Chemicals,
Ltd.
$
1,110,991
472,613
Coal
India,
Ltd.
2,051,833
31,866
Cummins
India,
Ltd.
1,842,984
25,000
Eicher
Motors,
Ltd.
2,051,179
318,355
Federal
Bank,
Ltd.
1,196,854
86,348
Granules
India,
Ltd.
746,306
49,251
Grasim
Industries,
Ltd.
1,599,701
52,934
Great
Eastern
Shipping
Company,
Ltd.
748,951
576,810
HDFC
Bank,
Ltd.
4,517,466
38,444
Hero
MotoCorp,
Ltd.
2,170,179
414,913
Hindalco
Industries,
Ltd.
4,251,556
141,116
ICICI
Bank,
Ltd.
ADR
4,232,069
370,935
Indian
Oil
Corporation,
Ltd.
543,758
166,618
Infosys,
Ltd.
ADR
a
2,004,414
10,130
Ipca
Laboratories,
Ltd.
185,553
189,238
JSW
Steel,
Ltd.
2,518,904
28,082
Kajaria
Ceramics,
Ltd.
352,541
72,778
Karnataka
Bank,
Ltd.
217,108
48,952
Larsen
&
Toubro,
Ltd.
2,019,069
78,196
Laurus
Labs,
Ltd.
c
1,488,615
107,804
Lupin,
Ltd.
2,728,573
66,587
Marico,
Ltd.
607,444
17,756
Maruti
Suzuki
India,
Ltd.
2,647,861
2
MRF,
Ltd.
2,782
441,074
National
Aluminium
Company,
Ltd.
1,622,739
26,202
Nava,
Ltd.
151,894
37,192
Nestle
India,
Ltd.
588,175
849,611
NMDC,
Ltd.
757,731
596,519
NTPC,
Ltd.
2,169,306
1,831,273
Oil
&
Natural
Gas
Corporation,
Ltd.
4,665,416
18,935
Polycab
India,
Ltd.
1,806,210
462,918
Reliance
Industries,
Ltd.
6,338,022
64,802
Samvardhana
Motherson
International,
Ltd.
102,348
35,654
Shipping
Corporation
of
India,
Ltd.
108,857
115,781
State
Bank
of
India
1,246,085
93,196
Sun
Pharmaceutical
Industries,
Ltd.
1,943,167
53,113
Tata
Consultancy
Services,
Ltd.
1,317,710
1,893,910
Tata
Steel,
Ltd.
3,768,298
48,348
Tech
Mahindra,
Ltd.
839,483
17,899
Torrent
Pharmaceuticals,
Ltd.
961,302
Total
83,344,878
Indonesia
0.1%
5,682,300
Medco
Energi
Internasional
Tbk
PT
405,272
3,176,200
Perusahaan
Gas
Negara
(Persero)
Tbk
PT
264,659
Total
669,931
Kuwait
0.3%
804,085
Agility
Public
Warehousing
Company
KSCC
381,127
743,548
Kuwait
Finance
House
KSCP
1,886,300
240,352
Mobile
Telecommunications
Company
KSCP
464,223
Total
2,731,650
Malaysia
1.5%
597,700
IHH
Healthcare
Bhd
1,222,039
358,400
Malayan
Banking
Bhd
955,491
79,300
Malayan
Cement
Bhd
125,871
340,900
Press
Metal
Aluminium
Holdings
Bhd
661,769
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Shares
Common
Stock 97.0%
Value
Malaysia
1.5%-
continued
1,316,900
Public
Bank
Bhd
$
1,664,852
451,000
RHB
Bank
Bhd
943,300
2,146,300
SD
Guthrie
Bhd
3,450,677
811,700
Sime
Darby
Bhd
428,672
683,000
Sunway
Construction
Group
Bhd
1,322,385
378,800
Telekom
Malaysia
Bhd
718,201
409,400
Tenaga
Nasional
Bhd
1,462,568
51,300
United
Plantations
Bhd
423,305
Total
13,379,130
Mexico
1.3%
69,195
America
Movil
SAB
de
CV
ADR
1,754,093
57,800
Banco
del
Bajio
SA
c
192,060
35,895
Cemex
SAB
de
CV
ADR
424,279
383,100
Fibra
Uno
Administracion
SA
de
CV
690,352
8,666
Fomento
Economico
Mexicano
SAB
de
CV
ADR
1,109,161
199,300
Grupo
Financiero
Banorte
SAB
de
CV
ADR
2,297,310
241,300
Grupo
Mexico
SAB
de
CV
2,901,953
36,300
Industrias
Penoles
SAB
de
CV
1,669,073
149,100
Megacable
Holdings
SAB
de
CV
503,356
27,400
Regional
SAB
de
CV
225,471
Total
11,767,108
Panama
<
0.1%
132
Intercorp
Financial
Services,
Inc.
7,697
Total
7,697
Philippines
0.2%
128,265
International
Container
Terminal
Services,
Inc.
2,014,216
Total
2,014,216
Poland
1.0%
28,842
Bank
Polska
Kasa
Opieki
SA
1,901,115
6,632
Erste
Bank
Polska
SA
1,307,537
72,519
Orlen
SA
2,877,649
72,169
Powszechna
Kasa
Oszczednosci
Bank
Polski
SA
2,161,670
22,132
XTB
SA
c
881,097
Total
9,129,068
Qatar
0.3%
378,839
Commercial
Bank
PSQC
427,954
687,761
Doha
Bank
QPSC
547,413
11,869
Qatar
Islamic
Bank
QPSC
70,879
391,457
Qatar
National
Bank
QPSC
1,783,209
Total
2,829,455
Russian
Federation
<
0.1%
647,134
Gazprom
PJSC
ADR
b,d
65
56,865
GMK
Norilskiy
Nickel
PAO
ADR
b,d,e
6
23,359
LUKOIL
PJSC
b,d,f
0
23,091
Mechel
PJSC
ADR
a,b,d
2
1,696
Novatek
PJSC
GDR
b,d,e
0
26,150
Polyus
PJSC
b,d,f
0
1,260,120
Sberbank
of
Russia
PJSC
b,d,f
1
67,230
Sovcomflot
PJSC
b,d,f
0
257,974
Surgutneftegas
PAO
ADR
b,d,e
26
Total
100
Shares
Common
Stock 97.0%
Value
Saudi
Arabia
2.2%
2,136
Al
Babtain
Power
&
Telecommunication
Company
$
30,088
185,416
Al
Rajhi
Bank
3,094,367
98,810
Alinma
Bank
615,664
177,405
Arab
National
Bank
1,026,584
143,892
Arabian
Centres
Company
c
598,068
209,187
Banque
Saudi
Fransi
1,103,176
238,467
Mobile
Telecommunications
Company
Saudi
Arabia
657,205
158,790
Riyad
Bank
861,255
7,969
SABIC
Agri-Nutrients
Company
261,603
683,207
Saudi
Arabian
Oil
Company
c
4,820,186
153,351
Saudi
Awwal
Bank
1,385,608
23,037
Saudi
Basic
Industries
Corporation
305,062
241,686
Saudi
Energy
Company
1,093,556
36,225
Saudi
Investment
Bank
134,165
271,065
Saudi
National
Bank
2,836,536
333
Saudi
Telecom
Company
3,825
Total
18,826,948
Singapore
<
0.1%
1,518
China
Yuchai
International,
Ltd.
71,589
Total
71,589
South
Africa
2.5%
66,126
Absa
Group,
Ltd.
911,406
221,379
AECI,
Ltd.
1,674,956
45,347
African
Rainbow
Minerals,
Ltd.
464,799
30,182
Coronation
Fund
Managers,
Ltd.
77,548
240,855
DataTec,
Ltd.
1,237,277
30,113
Discovery,
Ltd.
477,835
50,162
Exxaro
Resources,
Ltd.
618,598
280,716
FirstRand,
Ltd.
1,678,842
79,516
Gold
Fields,
Ltd.
ADR
2,577,909
48,415
Impala
Platinum
Holdings,
Ltd.
528,023
113,328
Investec,
Ltd.
983,931
97,439
Momentum
Group,
Ltd.
242,606
61,831
MTN
Group,
Ltd.
766,523
18,061
Naspers,
Ltd.
948,972
56,585
Nedbank
Group,
Ltd.
957,762
635,660
Redefine
Properties,
Ltd.
251,244
92,707
Sasol,
Ltd.
b
1,098,616
172,756
Standard
Bank
Group,
Ltd.
3,439,924
22,977
Valterra
Platinum,
Ltd.
1,720,534
728,369
Vukile
Property
Fund,
Ltd.
1,114,521
Total
21,771,826
South
Korea
18.5%
55,837
BNK
Financial
Group,
Inc.
585,215
11,712
Celltrion,
Inc.
1,509,349
4,082
CJ
Corporation
366,131
7,857
Doosan
Bobcat,
Inc.
323,446
30,989
GS
Holdings
Corporation
1,917,255
42,873
Hana
Financial
Group,
Inc.
3,705,903
12,471
Hankook
Tire
&
Technology
Company,
Ltd.
580,968
19,853
Hanwha
Corporation
d
1,153,362
31,977
Hanwha
Machinery
&
Service
Holdings
Company,
Ltd.
b,d
373,530
88,581
HMM
Company,
Ltd.
1,290,728
7,104
Hyundai
Department
Store
Company,
Ltd.
580,304
4,587
Hyundai
Elevator
Company,
Ltd.
214,669
14,203
Hyundai
Marine
&
Fire
Insurance
Company,
Ltd.
b
377,795
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Shares
Common
Stock 97.0%
Value
South
Korea
18.5%-
continued
3,228
Hyundai
Mobis
Company,
Ltd.
$
1,043,954
7,232
Hyundai
Motor
Company
1,916,170
116,163
iM
Financial
Group
Company,
Ltd.
1,362,027
31,432
KB
Financial
Group,
Inc.
3,678,703
1,118
KCC
Corporation
294,298
14,443
Kia
Corporation
1,302,184
111,502
Korean
Air
Lines
Company,
Ltd.
1,975,360
38,480
Korean
Reinsurance
Company
369,716
17,141
KT&G
Corporation
2,132,999
4,462
LG
Chem,
Ltd.
790,300
24,034
LG
Corporation
1,666,318
140,287
LG
Uplus
Corporation
1,438,438
11,914
Lotte
Corporation
186,473
16,777
LX
International
Corporation
437,686
11,650
Misto
Holdings
Corporation
365,554
13,063
NAVER
Corporation
1,870,108
7,307
POSCO
Holdings,
Inc.
1,577,747
10,901
Samsung
C&T
Corporation
2,539,527
3,479
Samsung
Electro-Mechanics
Company,
Ltd.
2,658,467
349,947
Samsung
Electronics
Company,
Ltd.
60,909,964
1,305
Samsung
Fire
&
Marine
Insurance
Company,
Ltd.
564,807
25,698
SD
Biosensor,
Inc.
113,832
50,746
Shinhan
Financial
Group
Company,
Ltd.
3,522,786
4,203
Shinsegae,
Inc.
1,216,101
41,824
SK
Hynix,
Inc.
47,497,665
2,793
SK
Square
Company,
Ltd.
1,920,505
7,011
SK,
Inc.
2,619,283
78,946
Woori
Financial
Group,
Inc.
1,827,549
2,228
Youngone
Holdings
Company,
Ltd.
296,776
Total
161,073,952
Switzerland
0.1%
20,200
BeOne
Medicines,
Ltd.
b
499,344
Total
499,344
Taiwan
26.2%
37,000
Accton
Technology
Corporation
2,398,229
9,000
Acter
Group
Corporation,
Ltd.
253,242
88,590
ASE
Technology
Holding
Company,
Ltd.
ADR
a
3,115,710
10,000
Asia
Vital
Components
Company,
Ltd.
703,278
1,100
ASPEED
Technology,
Inc.
480,420
1,458,000
Cathay
Financial
Holding
Company,
Ltd.
4,537,705
2,672
ChipMOS
Technologies,
Inc.
ADR
a
126,653
17,000
Chroma
ATE,
Inc.
1,068,043
40,877
Chunghwa
Telecom
Company,
Ltd.
ADR
1,741,769
2,480
Compeq
Manufacturing
Company,
Ltd.
12,688
3,677,000
CTBC
Financial
Holding
Company,
Ltd.
7,339,054
198,000
CTCI
Corporation
b
214,255
153,000
Delta
Electronics,
Inc.
7,527,235
17,000
Elite
Material
Company,
Ltd.
2,440,396
35,000
Ennoconn
Corporation
435,523
450,000
Far
EasTone
Telecommunications
Company,
Ltd.
1,460,824
472,000
Feng
Hsin
Steel
Company,
Ltd.
948,603
Shares
Common
Stock 97.0%
Value
Taiwan
26.2%-
continued
1,283,000
Fubon
Financial
Holding
Company,
Ltd.
$
5,114,002
1,191,000
Hon
Hai
Precision
Industry
Company,
Ltd.
9,095,676
1,261,000
Innolux
Corporation
1,730,540
3,473,000
KGI
Financial
Holding
Company,
Ltd.
3,281,226
8,000
King
Slide
Works
Company,
Ltd.
1,916,973
96,000
L&K
Engineering
Company,
Ltd.
2,065,870
93,000
MediaTek,
Inc.
9,907,079
123,000
Nan
Ya
Plastics
Corporation
584,414
231,000
Sigurd
Microelectronics
Corporation
1,312,520
130,000
Simplo
Technology
Company,
Ltd.
1,405,005
20,000
Sinbon
Electronics
Company,
Ltd.
180,965
179,520
SinoPac
Financial
Holdings
Company,
Ltd.
223,886
80,000
Sitronix
Technology
Corporation
650,042
1,489,000
Synnex
Technology
International
Corporation
4,270,510
416,000
Taiwan
Mobile
Company,
Ltd.
1,444,781
1,733,000
Taiwan
Semiconductor
Manufacturing
Company,
Ltd.
128,181,824
192,164
Topco
Scientific
Company,
Ltd.
2,933,181
46,000
Transcend
Information,
Inc.
408,523
64,000
Tripod
Technology
Corporation
718,595
1,121,100
TS
Financial
Holding
Company,
Ltd.
1,234,448
514,000
Tung
Ho
Steel
Enterprise
Corporation
1,182,004
796,000
United
Microelectronics
Corporation
2,977,915
426,000
Wah
Lee
Industrial
Corporation
1,467,648
176,000
WNC
Corporation/Taiwan
1,179,580
1,033,000
WPG
Holdings,
Ltd.
b
3,541,632
155,000
Yageo
Corporation
2,332,952
1,955,000
Yuanta
Financial
Holding
Company,
Ltd.
4,078,499
Total
228,223,917
Thailand
3.5%
261,700
Advanced
Info
Service
PCL
NVDR
2,972,620
731,200
Central
Pattana
PCL
NVDR
1,504,620
551,200
Kasikornbank
PCL
NVDR
4,021,601
1,433,800
Kiatnakin
Phatra
Bank
PCL
NVDR
4,748,818
3,341,100
Krung
Thai
Bank
PCL
NVDR
4,413,583
578,300
PTT
Exploration
and
Production
PCL
NVDR
2,589,956
1,949,700
PTT
PCL
NVDR
2,247,553
258,600
SCB
X
PCL
NVDR
1,182,666
919,900
Thaifoods
Group
PCL
NVDR
269,493
600,100
Thanachart
Capital
PCL
NVDR
1,400,567
329,000
TISCO
Financial
Group
PCL
NVDR
d
1,264,381
41,083,500
TMBThanachart
Bank
PCL
NVDR
3,755,085
Total
30,370,943
Turkey
0.6%
2,686,752
Anadolu
Efes
Biracilik
ve
Malt
Sanayii
AS
1,235,584
430,354
Dogan
Sirketler
Grubu
Holding
AS
189,263
1,059,197
Emlak
Konut
Gayrimenkul
Yatirim
Ortakligi
AS
398,913
313,575
Enerjisa
Enerji
AS
c
718,277
34,684
Migros
Ticaret
AS
456,196
458,580
Sok
Marketler
Ticaret
AS
b
492,040
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Shares
Common
Stock 97.0%
Value
Turkey
0.6%-
continued
210,991
Turkiye
Petrol
Rafinerileri
AS
$
1,314,284
3,121,739
Turkiye
Sigorta
AS
413,104
Total
5,217,661
United
Arab
Emirates
1.4%
130,789
Abu
Dhabi
Commercial
Bank
PJSC
532,859
1,690,406
Deyaar
Development
PJSC
332,656
401,292
Dubai
Electricity
&
Water
Authority
PJSC
299,310
534,640
Emaar
Development
PJSC
1,881,484
764,776
Emaar
Properties
PJSC
2,282,528
276,815
Emirates
NBD
Bank
PJSC
2,273,537
197,054
Emirates
Telecommunications
Group
Company
PJSC
1,091,482
607,917
First
Abu
Dhabi
Bank
PJSC
3,201,862
26,439
Orascom
Construction
plc
369,826
407,310
Sharjah
Islamic
Bank
320,986
Total
12,586,530
United
Kingdom
0.4%
42,367
AngloGold
Ashanti
plc
3,203,913
Total
3,203,913
United
States
0.2%
3,264
Southern
Copper
Corporation
596,366
32,713
Yum
China
Holding,
Inc.
1,576,112
Total
2,172,478
Virgin
Islands,
British
<
–%
17,004
VK
IPJSC
GDR
b,d,e
0
Total
0
Total
Common
Stock
(cost
$578,844,799)
846,578,509
Shares
Preferred
Stock
2.0%
Brazil
0.9%
10,746
Axia
Energia
SA,
Class
C
ADR
b
109,824
71,200
Bradespar
SA
308,304
586,600
Companhia
de
Saneamento
do
Parana
822,767
332,500
Companhia
de
Saneamento
do
Parana,
Units
2,384,956
616,696
Itausa
SA
1,687,378
324,600
Petroleo
Brasileiro
SA
2,781,014
Total
8,094,243
Russian
Federation
<
0.1%
2,930,700
Surgutneftegas
PAO
b,d,f
4
65,200
Transneft
PJSC
b,d,f
0
Total
4
South
Korea
1.1%
72,601
Samsung
Electronics
Company,
Ltd.
9,123,403
Total
9,123,403
Total
Preferred
Stock
(cost
$12,997,699)
17,217,650
Shares
Collateral
Held
for
Securities
Loaned
0.7%
Value
5,959,119
Thrivent
Cash
Management
Trust
$
5,959,119
Total
Collateral
Held
for
Securities
Loaned
(cost
$5,959,119)
5,959,119
Shares
or
Principal
Amount
Short-Term
Investments
0.5%
Federal
Home
Loan
Bank
Discount
Notes
300,000
3.625%,
8/26/2026
g,h
299,221
1,000,000
3.637%,
9/4/2026
g,h
996,452
100,000
3.640%,
9/11/2026
g,h
99,574
100,000
3.685%,
9/18/2026
g,h
99,503
1,300,000
3.760%,
10/21/2026
g,h
1,289,088
Federal
Home
Loan
Mortgage
Corporation
Discount
Notes
100,000
3.695%,
10/14/2026
g,h
99,232
State
Street
Institutional
U.S.
Government
Money
Market
Fund
1,850,109
3.619%
g
1,850,109
Total
Short-Term
Investments
(cost
$4,733,256)
4,733,179
Total
Investments
(cost
$602,534,873)
100.2%
$874,488,457
Other
Assets
and
Liabilities,
Net
(0.2%)
(2,021,955)
Total
Net
Assets
100.0%
$872,466,502
a
All
or
a
portion
of
the
security
is
on
loan.
b
Non-income
producing
security.
c
Denotes
securities
sold
under
Rule
144A
of
the
Securities
Act
of
1933,
which
exempts
them
from
registration.
These
securities
may
be
resold
to
other
dealers
in
the
program
or
to
other
qualified
institutional
buyers.
As
of
July
31,
2026,
the
value
of
these
investments
was
$20,359,420
or
2.3%
of
total
net
assets.
d
Security
is
valued
using
significant
unobservable
inputs.
Further
information
on
valuation
can
be
found
in
the
Notes
to
Financial
Statements.
e
Security
received
as
part
of
a
corporate
restructure
prior
to
period
end
with
a
contractual
restriction
on
its
sale
of
less
than
one
month.
f
Pursuant
to
sanctions
related
to
the
Russian
invasion
of
Ukraine
which
restricts
the
ability
of
Russia
and
its
allied
nations
to
make
payments
on
its
dollar-denominated
sovereign
debt
and
equity,
existing
accruals
on
these
securities
have
been
reserved
and
income
is
currently
not
being
accrued.
g
The
interest
rate
shown
reflects
the
yield.
h
All
or
a
portion
of
the
security
is
held
on
deposit
with
the
counterparty
and
pledged
as
the
initial
margin
deposit
for
open
futures
contracts.
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
The
following
table
presents
the
total
amount
of
securities
loaned
with
continuous
maturity,
by
type,
offset
by
the
gross
payable
upon
return
of
collateral
for
securities
loaned
by
Emerging
Markets
Equity
Fund
as
of
July
31,
2026:
Securities
Lending
Transactions
Common
Stock
$
5,849,989
Total
lending
$5,849,989
Gross
amount
payable
upon
return
of
collateral
for
securities
loaned
$5,959,119
Net
amounts
due
to
counterparty
$109,130
Definitions:
ADR
-
American
Depositary
Receipt,
which
is
a
certificate
for
an
underlying
foreign
security's
shares
held
by
an
issuing
U.S.
depository
bank.
Bhd
-
Berhad
-
suffix
used
in
Malaysia
to
identify
a
Public
Limited
Company
GDR
-
Global
Depository
Receipts,
which
are
certificates
for
shares
of
an
underlying
foreign
security’s
shares
held
by
an
issuing
depository
bank
from
more
than
one
country.
NVDR
-
Non-Voting
Depository
Receipts
PCL
-
Public
Company
Limited
plc
-
Public
Limited
Company
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Intercontinental
Exchange
Morgan
Stanley
Capital
International
Fair
Valuation
Measurements
The
following
table
is
a
summary
of
the
inputs
used,
as
of
July
31,
2026,
in
valuing
Emerging
Markets
Equity
Fund's
assets
carried
at
fair
value.
Investments
in
Securities
Total
Level
1
Level
2
Level
3
Common
Stock
Communications
Services
@
57,552,000
11,203,948
46,348,052
0
Consumer
Discretionary
43,149,112
6,483,925
36,665,187
–
Consumer
Staples
@
13,403,145
6,306,487
7,096,658
0
Energy
@
50,478,601
9,973,788
40,504,722
91
Financials
201,319,544
33,129,601
166,925,561
1,264,382
Health
Care
23,720,632
–
23,720,632
–
Industrials
47,249,290
517,497
45,204,901
1,526,892
Information
Technology
327,090,930
6,484,054
320,606,876
–
Materials
@
60,263,600
17,853,620
42,409,972
8
Real
Estate
11,324,076
1,866,663
9,457,413
–
Utilities
11,027,579
3,083,847
7,943,732
–
Preferred
Stock
Energy
@
2,781,018
2,781,014
–
4
Financials
1,687,378
1,687,378
–
–
Information
Technology
9,123,403
–
9,123,403
–
Materials
308,304
308,304
–
–
Utilities
3,317,547
3,317,547
–
–
Short-Term
Investments
4,733,179
1,850,109
2,883,070
–
Subtotal
Investments
in
Securities
$868,529,338
$106,847,782
$758,890,179
$2,791,377
Other
Investments *
Total
Collateral
Held
for
Securities
Loaned
5,959,119
Subtotal
Other
Investments
$5,959,119
Total
Investments
at
Value
$874,488,457
*
Certain
investments
are
measured
at
fair
value
using
a
net
asset
value
per
share
that
is
not
publicly
available
(practical
expedient). According
to
disclosure
requirements
of
Accounting
Standards
Codification
(ASC)
820,
Fair
Value
Measurement,
securities
valued
using
the
practical
expedient
are
not
classified
in
the
fair
value
hierarchy. The
fair
value
amounts
presented
in
the
table
above
are
intended
to
permit
reconciliation
of
the
fair
value
hierarchy
to
the
amounts
presented
in
the
Statement
of
Assets
and
Liabilities.
@
Level
3
security
in
this
section
is
fair
valued
at
<$1.
The
following
table
is
a
summary
of
the
inputs
used,
as
of
July
31,
2026,
in
valuing
Emerging
Markets
Equity
Fund's
other
financial
instrument
assets
carried
at
fair
value.
Other
Financial
Instruments
Total
Level
1
Level
2
Level
3
Liability
Derivatives
Futures
Contracts
1,469,522
1,469,522
–
–
Total
Liability
Derivatives
$1,469,522
$1,469,522
$–
$–
The
following
table
presents
Emerging
Markets
Equity
Fund's
futures
contracts
held
as
of
July
31,
2026.
Investments
and/or
cash
totaling
$2,883,070
were
pledged
as
the
initial
margin
deposit
for
these
contracts.
Futures
Contracts
Description
Number
of
Contracts
Long/(Short)
Expiration
Date
Notional
Principal
Amount
Value
and
Unrealized
ICE
US
mini
MSCI
Emerging
Markets
Index
498
September
2026
$
42,362,792
(
$
1,469,522)
Total
Futures
Long
Contracts
$
42,362,792
(
$
1,469,522)
Total
Futures
Contracts
$
42,362,792
($1,469,522)
Emerging
Markets
Equity
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Investment
in
Affiliates
Affiliated
issuers,
as
defined
under
the
Investment
Company
Act
of
1940,
include
those
in
which
the
Fund's
holdings
of
an
issuer
represent
5%
or
more
of
the
outstanding
voting
securities
of
an
issuer,
any
affiliated
fund,
or
a
company
which
is
under
common
ownership
or
control
with
the
Fund.
A
summary
of
transactions
(in
thousands;
values
shown
as
zero
are
less
than
$500)
for
the
fiscal
year
to
date,
in
Emerging
Markets
Equity
Fund,
is
as
follows:
Fund
Value
10/31/2025
Gross
Purchases
Gross
Sales
Value
7/31/2026
Shares
Held
at
7/31/2026
%
of
Net
Assets
7/31/2026
Collateral
Held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$6,260
$35,398
$35,699
$5,959
5,959
0.7%
Total
Collateral
Held
for
Securities
Loaned
6,260
5,959
0.7
Total
Value
$6,260
$5,959
Fund
Net
Realized
Gain/(Loss)
Change
in
Unrealized
Appreciation/
(Depreciation)
Distributions
of
Realized
Capital
Gains
Income
Earned
11/1/2025
-
7/31/2026
Collateral
Held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$–
$–
$
–
$234
Total
Affiliated
Income
from
Securities
Loaned,
Net
$234
Total
$–
$–
$–
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Bank
Loans
1.1%
a
Value
Communications
Services
0.4%
Cable
One,
Inc.,
Term
Loan
$
997,375
5.845%,
(TSFR1M
+
2.000%),
5/3/2028
b
$
831,312
Cengage
Learning,
Inc.,
Term
Loan
2,000,000
0.000%,
(TSFR3M
+
3.000%),
3/24/2031
b,c,d
1,983,260
Playtika
Holding
Corporation,
Term
Loan
1,000,000
0.000%,
(TSFR1M
+
2.750%),
3/13/2028
b,c,d
978,170
Total
3,792,742
Consumer
Cyclical
0.2%
Caesars
Entertainment,
Inc.,
Term
Loan
428,571
0.000%,
(TSFR1M
+
2.250%),
2/6/2031
b,c,d
407,498
Evergreen
AcqCo
1,
LP,
Term
Loan
1,497,425
6.168%,
(TSFR3M
+
2.500%),
9/17/2032
b,c,d
1,497,425
Total
1,904,923
Consumer
Non-Cyclical
0.4%
Hopper
Merger
Sub,
Inc.,
Term
Loan
1,500,000
5.995%,
(TSFR3M
+
2.250%),
4/7/2033
b
1,474,590
Syneos
Health
US
Inc.,
Term
Loan
1,500,000
0.000%,
(TSFR1M
+
3.500%),
9/30/2030
b,c,d
1,504,860
Total
2,979,450
Transportation
0.1%
American
Airlines,
Inc.,
Term
Loan
1,000,000
6.666%,
(TSFR3M
+
3.000%),
5/31/2033
b
992,080
Total
992,080
Total
Bank
Loans
(cost
$9,814,459)
9,669,195
Principal
Amount
Long-Term
Fixed
Income
94.8%
Value
Basic
Materials
5.9%
Alliance
Resource
Operating
Partners,
LP/Alliance
Resource
Finance
Corporation
1,557,000
8.625%,
6/15/2029
e
1,624,449
Alumina,
Pty.
Ltd.
1,611,000
6.125%,
3/15/2030
e
1,624,404
Avient
Corporation
811,000
6.250%,
11/1/2031
e
816,967
Axalta
Coating
Systems
Dutch
Holding
B
BV
1,312,000
7.250%,
2/15/2031
e
1,356,937
Carpenter
Technology
Corporation
719,000
5.625%,
3/1/2034
e
708,842
Cascades,
Inc./Cascades
USA,
Inc.
2,161,000
6.750%,
7/15/2030
e
2,195,295
Celanese
US
Holdings,
LLC
622,000
6.850%,
11/15/2028
645,305
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Basic
Materials
5.9%
-
continued
$
722,000
6.500%,
4/15/2030
f
$
730,873
716,000
7.379%,
7/15/2032
749,160
1,538,000
6.750%,
4/15/2033
f
1,567,790
Chemours
Company
2,871,000
4.625%,
11/15/2029
e
2,709,313
958,000
7.875%,
3/15/2034
e
932,227
Cleveland-Cliffs,
Inc.
1,885,000
4.625%,
3/1/2029
e
1,828,300
953,000
6.875%,
11/1/2029
e
963,164
1,524,000
4.875%,
3/1/2031
e
1,405,175
722,000
7.375%,
5/1/2033
e
729,733
965,000
6.250%,
10/1/2040
f
775,932
Commercial
Metals
Company
1,916,000
6.000%,
12/15/2035
e
1,882,855
CVR
Partners,
LP/CVR
Nitrogen
Finance
Corporation
1,428,000
6.125%,
6/15/2028
e
1,426,371
First
Quantum
Minerals,
Ltd.
958,000
7.250%,
2/15/2034
e
975,863
1,200,000
6.375%,
2/15/2036
e
1,161,174
FMC
Corporation
479,000
8.000%,
6/1/2031
e
495,300
956,000
4.500%,
10/1/2049
f
612,763
Fortescue
Treasury,
Pty.
Ltd.
400,000
4.500%,
9/15/2027
e
396,586
485,000
5.875%,
4/15/2030
e
486,187
500,000
6.125%,
4/15/2032
e
505,268
Magnera
Corporation
1,381,000
7.250%,
11/15/2031
e
1,351,654
Methanex
Corporation
964,000
5.250%,
12/15/2029
f
955,538
435,000
5.650%,
12/1/2044
380,236
Methanex
US
Operations,
Inc.
963,000
6.250%,
3/15/2032
e,f
972,514
Mineral
Resources,
Ltd.
1,060,000
9.250%,
10/1/2028
e
1,090,255
476,000
8.500%,
5/1/2030
e
490,824
863,000
7.000%,
4/1/2031
e
888,086
479,000
6.000%,
5/1/2032
e
470,203
479,000
6.250%,
5/1/2034
e
466,862
Novelis
Corporation
963,000
4.750%,
1/30/2030
e
925,585
865,000
3.875%,
8/15/2031
e,f
785,154
Olin
Corporation
961,000
6.625%,
4/1/2033
e
940,427
Olympus
Water
US
Holding
Corporation
2,374,000
7.250%,
2/15/2033
e
2,325,497
Qnity
Electronics,
Inc.
2,400,000
5.750%,
8/15/2032
e
2,382,928
SCIH
Salt
Holdings,
Inc.
957,000
6.625%,
8/15/2031
d,e
956,828
957,000
8.000%,
8/15/2032
d,e
949,767
Solstice
Advanced
Materials,
Inc.
960,000
5.625%,
9/30/2033
e
938,721
SunCoke
Energy,
Inc.
1,558,000
4.875%,
6/30/2029
e
1,486,035
Trekor
Metals,
Ltd.
1,743,000
8.250%,
5/1/2030
e
1,811,212
WR
Grace
Holdings,
LLC
1,420,000
6.625%,
8/15/2032
e
1,351,865
1,875,000
7.000%,
8/1/2033
e
1,795,958
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Basic
Materials
5.9%
-
continued
WS
Escrow,
LLC
$
718,000
7.750%,
6/1/2033
e
$
742,884
Total
53,765,266
Capital
Goods
10.5%
AECOM
1,921,000
6.000%,
8/1/2033
e
1,910,036
Albion
Financing
1
SARL/Aggreko
Holdings,
Inc.
961,000
7.000%,
5/21/2030
e
978,945
APi
Group
DE,
Inc.
599,000
5.750%,
6/1/2034
e
586,312
Ardagh
Group
SA
982,875
5.500%,PIK
6.500%,
12/1/2030
e,f,g
910,327
ATI,
Inc.
486,000
7.250%,
8/15/2030
501,091
Axon
Enterprise,
Inc.
765,000
6.125%,
3/15/2030
e
773,883
765,000
6.250%,
3/15/2033
e
775,837
Ball
Corporation
600,000
3.125%,
9/15/2031
f
538,701
Bombardier,
Inc.
2,505,000
7.000%,
6/1/2032
e
2,580,952
481,000
6.750%,
6/15/2033
e
495,415
575,000
7.450%,
5/1/2034
e
627,362
958,000
5.875%,
1/15/2035
e
948,015
Brundage-Bone
Concrete
Pumping
Holdings,
Inc.
1,415,000
7.500%,
2/1/2032
e
1,450,086
Builders
FirstSource,
Inc.
1,955,000
5.000%,
3/1/2030
e
1,894,629
479,000
4.250%,
2/1/2032
e
435,884
300,000
6.375%,
3/1/2034
e
294,373
961,000
6.750%,
5/15/2035
e
951,447
CANPACK
Group,
Inc./CANPACK
SA
1,250,000
6.000%,
5/15/2031
e
1,243,160
CANPACK
SA/CANPACK
US,
LLC
1,288,000
3.875%,
11/15/2029
e
1,218,675
Clean
Harbors,
Inc.
720,000
6.375%,
2/1/2031
e
727,386
Clydesdale
Acquisition
Holdings,
Inc.
417,000
6.625%,
4/15/2029
e
414,484
475,000
6.875%,
1/15/2030
e
470,916
904,000
8.750%,
4/15/2030
e,f
863,957
1,441,000
6.750%,
4/15/2032
e
1,372,267
Columbus
McKinnon
Corporation/
NY
2,851,000
7.125%,
2/1/2033
e
2,872,382
Core
&
Main,
LP
239,000
6.000%,
7/1/2034
e
237,665
EMRLD
Borrower,
LP/Emerald
Co-
Issuer,
Inc.
2,770,000
6.625%,
12/15/2030
e
2,815,420
EquipmentShare.com,
Inc.
1,437,000
9.000%,
5/15/2028
e
1,458,900
915,000
7.125%,
7/1/2034
e
873,941
ESAB
Corporation
753,000
6.250%,
4/15/2029
e
760,971
476,000
5.625%,
4/1/2031
e
470,245
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Capital
Goods
10.5%
-
continued
GFL
Environmental
Holdings
US,
Inc.
$
1,915,000
5.625%,
7/1/2031
e
$
1,860,531
1,915,000
5.500%,
2/1/2034
e
1,771,484
Granite
Construction,
Inc.
516,000
6.375%,
6/15/2034
e
514,524
Herc
Holdings,
Inc.
1,577,000
6.625%,
6/15/2029
e
1,605,276
1,357,000
7.250%,
6/15/2033
e,f
1,400,235
240,000
6.000%,
3/15/2034
e
235,303
Mauser
Packaging
Solutions
Holding
Company
1,770,000
7.875%,
4/15/2030
e
1,805,223
Mueller
Water
Products,
Inc.
1,383,000
4.000%,
6/15/2029
e
1,324,831
Nesco
Holdings
II,
Inc.
644,000
5.500%,
4/15/2029
e
639,408
New
Enterprise
Stone
and
Lime
Company,
Inc.
2,142,000
5.250%,
7/15/2028
e
2,128,707
OI
European
Group
BV
2,322,000
4.750%,
2/15/2030
e,f
2,129,276
Owens-Brockway
Glass
Container,
Inc.
588,000
7.375%,
6/1/2032
e,f
542,923
Quikrete
Holdings,
Inc.
3,833,000
6.375%,
3/1/2032
e
3,879,778
QXO
Building
Products,
Inc.
479,000
6.500%,
7/15/2031
e
480,942
1,443,000
6.750%,
4/30/2032
e
1,473,679
1,404,000
6.875%,
7/15/2034
e,f
1,406,098
Resideo
Funding
II,
LLC
1,569,000
6.500%,
7/15/2032
e
1,569,529
Reworld
Holding
Corporation
1,602,000
4.875%,
12/1/2029
e
1,520,366
Sensata
Technologies
BV
430,000
4.000%,
4/15/2029
e
413,793
Sensata
Technologies,
Inc.
500,000
4.375%,
2/15/2030
e
482,156
561,000
3.750%,
2/15/2031
e
522,050
282,000
6.625%,
7/15/2032
e
288,697
Smyrna
Ready
Mix
Concrete,
LLC
2,857,000
8.875%,
11/15/2031
e
2,991,548
SRM
Escrow
Issuer,
LLC
745,000
6.000%,
11/1/2028
e
743,943
Standard
Building
Solutions,
Inc.
1,161,000
6.500%,
8/15/2032
e
1,163,221
2,162,000
6.250%,
8/1/2033
e
2,138,375
959,000
5.875%,
3/15/2034
e,f
920,790
Standard
Industries,
Inc./NY
964,000
4.750%,
1/15/2028
e
958,126
964,000
3.375%,
1/15/2031
e
865,322
Sword
Purchaser,
LLC
979,000
8.250%,
4/15/2033
e
1,001,355
979,000
10.500%,
4/15/2034
e
1,012,080
Synergy
Infrastructure
Holdings,
LLC
719,000
7.875%,
12/1/2030
e
750,014
1,437,000
7.000%,
7/15/2034
e
1,449,656
TransDigm,
Inc.
1,450,000
6.750%,
8/15/2028
e
1,459,078
3,375,000
7.125%,
12/1/2031
e
3,481,110
2,780,000
6.625%,
3/1/2032
e
2,826,509
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Capital
Goods
10.5%
-
continued
$
2,128,000
6.000%,
1/15/2033
e
$
2,127,775
240,000
6.250%,
1/31/2034
e
242,359
2,613,000
6.750%,
1/31/2034
e
2,655,521
1,197,000
6.125%,
7/31/2034
e
1,183,556
United
Rentals
North
America,
Inc.
1,667,000
4.875%,
1/15/2028
1,660,415
1,567,000
4.000%,
7/15/2030
1,488,022
Waste
Pro
USA,
Inc.
840,000
7.000%,
2/1/2033
e
851,365
WESCO
Distribution,
Inc.
993,000
6.375%,
3/15/2029
e
1,007,009
239,000
5.250%,
4/15/2031
e
235,019
696,000
6.625%,
3/15/2032
e
710,079
743,000
6.375%,
3/15/2033
e
755,462
479,000
5.500%,
4/15/2034
e
465,329
Total
95,591,511
Communications
Services
10.6%
AMC
Global
Media,
Inc.
1,385,000
10.500%,
7/15/2032
e,f
1,426,661
Cable
One,
Inc.
376,000
4.000%,
11/15/2030
e,f
139,795
CCO
Holdings,
LLC/CCO
Holdings
Capital
Corporation
498,000
5.000%,
2/1/2028
e
491,645
680,000
5.375%,
6/1/2029
e
660,392
2,689,000
6.375%,
9/1/2029
e
2,671,994
3,743,000
4.750%,
3/1/2030
e
3,497,181
970,000
4.500%,
8/15/2030
e
885,030
1,806,000
4.250%,
2/1/2031
e
1,598,544
2,673,000
4.750%,
2/1/2032
e,f
2,335,649
1,077,000
7.000%,
2/1/2033
e,f
1,032,122
500,000
4.500%,
6/1/2033
e,f
425,394
2,135,000
4.250%,
1/15/2034
e,f
1,743,201
1,436,000
7.375%,
2/1/2036
e,f
1,365,190
Clear
Channel
Outdoor
Holdings,
Inc.
1,147,000
7.875%,
4/1/2030
e
1,191,186
Deluxe
Corporation
1,868,000
8.125%,
9/15/2029
e
1,934,378
DIRECTV
Financing,
LLC
1,440,000
8.875%,
2/1/2030
e
1,466,106
481,000
8.875%,
2/1/2030
e
488,220
DIRECTV
Financing,
LLC/DIRECTV
Financing
Co-Obligor,
Inc.
403,000
5.875%,
8/15/2027
e
402,048
1,338,000
10.000%,
2/15/2031
e
1,398,123
1,437,000
9.250%,
6/1/2032
e
1,470,461
Discovery
Global
Holdings,
Inc.
960,000
5.141%,
3/15/2052
610,147
2,155,000
4.054%,
3/15/2029
2,116,663
1,530,000
4.279%,
3/15/2032
f
1,359,512
3,775,000
5.050%,
3/15/2042
2,623,625
FiberCop
SPA
2,891,000
6.000%,
9/30/2034
e
2,785,961
Gray
Media,
Inc.
962,000
7.250%,
8/15/2033
e,f
951,476
Iliad
Holding
SAS
1,302,000
8.500%,
4/15/2031
e
1,369,575
953,000
7.000%,
4/15/2032
e
961,238
Level
3
Financing,
Inc.
2,162,000
6.875%,
6/30/2033
e
2,187,835
2,161,000
7.000%,
3/31/2034
e
2,198,208
1,437,000
8.500%,
1/15/2036
e
1,495,029
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Communications
Services
10.6%
-
continued
$
359,000
7.500%,
2/15/2037
e
$
356,557
Lumen
Technologies,
Inc.
1,420,000
7.600%,
9/15/2039
1,297,525
McGraw-Hill
Education,
Inc.
2,543,000
5.750%,
8/1/2028
e
2,523,365
479,000
8.000%,
8/1/2029
e
475,047
Nexstar
Media,
Inc.
1,445,000
4.750%,
11/1/2028
e
1,416,907
2,879,000
6.500%,
9/15/2033
e
2,864,244
2,155,000
7.250%,
4/15/2034
e,f
2,159,829
Oak-Eagle
Acquireco,
Inc.
2,238,000
7.250%,
7/1/2033
e
2,318,955
1,758,000
8.750%,
7/1/2034
e
1,852,030
Outfront
Media
Capital,
LLC/
Outfront
Media
Capital
Corporation
1,453,000
4.625%,
3/15/2030
e
1,403,304
Paramount
Global
569,000
4.950%,
5/19/2050
344,830
948,000
4.200%,
6/1/2029
900,208
948,000
4.950%,
1/15/2031
868,749
1,427,000
6.875%,
4/30/2036
f
1,304,329
1,571,000
5.850%,
9/1/2043
1,113,671
Playtika
Holding
Corporation
958,000
4.250%,
3/15/2029
e
870,458
Rogers
Communications,
Inc.
722,000
7.000%,
4/15/2055
b
726,333
Scripps
Escrow
II,
Inc.
1,435,000
3.875%,
1/15/2029
e
1,311,347
Sinclair
Television
Group,
Inc.
709,000
8.125%,
2/15/2033
e
727,061
Sirius
XM
Radio,
LLC
500,000
4.125%,
7/1/2030
e
467,345
1,500,000
3.875%,
9/1/2031
e
1,353,665
958,000
5.875%,
4/15/2032
e
940,062
Snap,
Inc.
960,000
6.875%,
3/15/2034
e
929,940
Telenet
Finance
Luxembourg
Notes
SARL
2,000,000
5.500%,
3/1/2028
e
1,973,024
TELUS
Corporation
1,911,000
6.625%,
10/15/2055
b
1,904,781
Uniti
Group,
LP/Uniti
Fiber
Holdings,
Inc./CSL
Capital,
LLC
1,916,000
6.000%,
1/15/2030
e,f
1,828,186
Uniti
Services,
LLC
1,200,000
7.500%,
10/15/2033
e
1,226,262
Univision
Communications,
Inc.
1,487,000
4.500%,
5/1/2029
e
1,408,116
1,446,000
7.375%,
6/30/2030
e
1,439,725
1,142,000
8.500%,
7/31/2031
e
1,139,472
1,197,000
8.875%,
4/15/2033
e
1,158,965
Virgin
Media
Finance
plc
1,195,000
5.000%,
7/15/2030
e
735,319
Virgin
Media
Secured
Finance
plc
2,547,000
5.500%,
5/15/2029
e
2,286,599
VMED
O2
UK
Financing
I
plc
963,000
7.750%,
4/15/2032
e
809,885
Vodafone
Group
plc
760,000
4.125%,
6/4/2081
b
696,575
1,446,000
5.125%,
6/4/2081
b
1,078,325
VZ
Secured
Financing
BV
2,439,000
5.000%,
1/15/2032
e
1,999,988
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Communications
Services
10.6%
-
continued
Windstream
Services,
LLC/
Windstream
Escrow
Finance
Corporation
$
1,260,000
8.250%,
10/1/2031
e
$
1,311,697
Ziggo
BV
1,915,000
4.875%,
1/15/2030
e
1,724,536
Total
96,529,805
Consumer
Cyclical
17.0%
Adient
Global
Holdings,
Ltd.
629,000
8.250%,
4/15/2031
e,f
654,017
963,000
7.500%,
2/15/2033
e,f
993,843
ADT
Security
Corporation
942,000
4.125%,
8/1/2029
e
902,310
1,692,000
4.875%,
7/15/2032
e
1,582,994
Advance
Auto
Parts,
Inc.
1,440,000
7.000%,
8/1/2030
e,f
1,475,474
862,000
7.375%,
8/1/2033
e,f
889,696
Allied
Universal
Holdco,
LLC/Allied
Universal
Finance
Corporation/
Atlas
Luxco
4
SARL
1,065,000
4.625%,
6/1/2028
e
1,047,383
Allison
Transmission,
Inc.
731,000
3.750%,
1/30/2031
e
677,984
American
Axle
&
Manufacturing,
Inc.
2,368,000
5.000%,
10/1/2029
f
2,287,978
960,000
6.375%,
10/15/2032
e
954,876
960,000
7.750%,
10/15/2033
e,f
945,333
Arches
Buyer,
Inc.
1,915,000
9.000%,
8/15/2031
e
1,924,979
Asbury
Automotive
Group,
Inc.
1,377,000
5.000%,
2/15/2032
e
1,311,990
Ashton
Woods
USA,
LLC/Ashton
Woods
Finance
Company
1,604,000
4.625%,
8/1/2029
e
1,540,195
Bath
&
Body
Works,
Inc.
471,000
6.950%,
3/1/2033
469,236
BCPE
Flavor
Debt
Merger
Sub,
LLC/BCPE
Flavor
Issuer,
Inc.
1,409,000
9.500%,
7/1/2032
e
1,363,172
Beach
Acquisition
Bidco,
LLC
1,362,880
0.000%,PIK
10.750%,
7/15/2033
e,g
1,463,064
Belron
UK
Finance
plc
1,946,000
5.750%,
10/15/2029
e
1,945,385
Bloomin'
Brands,
Inc./OSI
Restaurant
Partners,
LLC
2,143,000
5.125%,
4/15/2029
e,f
2,036,486
Boyd
Gaming
Corporation
1,550,000
4.750%,
6/15/2031
e
1,480,073
Brightstar
Lottery
plc
2,608,000
5.250%,
1/15/2029
e
2,577,823
Brightstar
Lottery
plc/Brightstar
Global
Solutions
Corporation
959,000
5.750%,
1/15/2033
e
925,398
Brookfield
Residential
Properties,
Inc./Brookfield
Residential
US,
LLC
1,434,000
4.875%,
2/15/2030
e,f
1,336,187
Caesars
Entertainment,
Inc.
1,033,000
4.625%,
10/15/2029
e
981,594
2,378,000
7.000%,
2/15/2030
e
2,385,866
191,000
6.500%,
2/15/2032
e
182,514
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Consumer
Cyclical
17.0%
-
continued
$
961,000
6.000%,
10/15/2032
e,f
$
842,860
Carnival
Corporation,
Ltd.
1,699,000
5.750%,
8/1/2032
e
1,683,342
Carvana
Company
957,000
9.000%,PIK
0.000%,
6/1/2030
e,g
986,406
2,572,400
9.000%,PIK
0.000%,
6/1/2031
e,g
2,829,433
Churchill
Downs,
Inc.
717,000
4.750%,
1/15/2028
e
709,980
848,000
6.750%,
5/1/2031
e
858,085
Cushman
&
Wakefield
US
Borrower,
LLC
148,000
6.750%,
5/15/2028
e
147,998
Cyprium
Corporation/Cyprium
Holdings
Luxembourg
SARL
712,000
6.125%,
4/15/2031
e
705,685
712,000
6.375%,
4/15/2034
e
701,456
Dana,
Inc.
770,000
4.500%,
2/15/2032
768,285
Dream
Finders
Homes,
Inc.
1,440,000
6.875%,
9/15/2030
e,f
1,405,510
Family
Dollar
Stores,
LLC
957,000
10.000%,
7/31/2031
d,e
941,912
Flutter
Treasury
DAC
625,000
5.875%,
6/4/2031
e
615,704
Forestar
Group,
Inc.
1,434,000
6.500%,
3/15/2033
e
1,436,973
FORVIA
SE
1,433,000
8.000%,
6/15/2030
e
1,506,049
964,000
6.750%,
9/15/2033
e,f
959,233
Gaia
Purchaser,
Inc.
1,197,000
7.625%,
7/15/2033
e
1,200,680
Gap,
Inc.
576,000
3.875%,
10/1/2031
e
522,068
Garda
World
Security
Corporation
958,000
6.000%,
6/1/2029
e
944,116
915,000
6.500%,
1/15/2031
e
925,070
Garrett
Motion
Holdings,
Inc./
Garrett
LX
I
SARL
1,628,000
7.750%,
5/31/2032
e
1,692,220
Genting
New
York,
LLC/GENNY
Capital,
Inc.
1,350,000
7.250%,
10/1/2029
e
1,381,336
Global
Auto
Holdings,
Ltd./AAG
FH
UK,
Ltd.
701,000
8.375%,
1/15/2029
e,f
695,589
962,000
11.500%,
8/15/2029
e
1,011,434
1,283,000
8.750%,
1/15/2032
e,f
1,244,858
Goodyear
Tire
&
Rubber
Company
949,000
5.000%,
7/15/2029
909,181
1,601,000
5.250%,
4/30/2031
1,437,718
Hilton
Domestic
Operating
Company,
Inc.
2,760,000
4.875%,
1/15/2030
2,720,893
482,000
4.000%,
5/1/2031
e
452,310
1,971,000
3.625%,
2/15/2032
e
1,783,460
961,000
5.750%,
9/15/2033
e
952,252
IHO
Verwaltungs
GmbH
1,000,000
7.375%,PIK
8.125%,
5/15/2033
e,g
1,036,520
Jacobs
Entertainment,
Inc.
2,141,000
6.750%,
2/15/2029
e
2,100,856
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Consumer
Cyclical
17.0%
-
continued
K
Hovnanian
Enterprises,
Inc.
$
720,000
8.000%,
4/1/2031
e
$
733,917
L
Brands,
Inc.
2,024,000
6.625%,
10/1/2030
e
2,056,720
1,393,000
6.875%,
11/1/2035
f
1,408,496
Light
&
Wonder
International,
Inc.
850,000
7.250%,
11/15/2029
e
863,912
Lindblad
Expeditions,
LLC
1,917,000
7.000%,
9/15/2030
e
1,973,440
Lithia
Motors,
Inc.
962,000
4.625%,
12/15/2027
e
957,366
Live
Nation
Entertainment,
Inc.
1,073,000
4.750%,
10/15/2027
e
1,067,477
Macy's
Retail
Holdings,
LLC
480,000
7.375%,
8/1/2033
e,f
499,483
559,000
4.500%,
12/15/2034
502,285
1,916,000
6.375%,
3/15/2037
1,782,169
Marriott
Ownership
Resorts,
Inc.
967,000
6.500%,
10/1/2033
e,f
950,985
Match
Group
Holdings
II,
LLC
1,723,000
4.125%,
8/1/2030
e
1,612,094
958,000
6.125%,
9/15/2033
e
932,750
Mattamy
Group
Corporation
1,199,000
6.000%,
12/15/2033
e
1,141,297
Melco
Resorts
Finance,
Ltd.
1,922,000
5.375%,
12/4/2029
e
1,858,114
2,597,000
7.625%,
4/17/2032
e
2,650,195
1,442,000
6.500%,
9/24/2033
e
1,392,313
MGM
Resorts
International
500,000
4.625%,
9/1/2026
499,792
1,275,000
6.125%,
9/15/2029
1,282,849
Michaels
Companies,
Inc.
3,359,000
8.500%,
3/15/2033
e,f
3,327,513
Millrose
Properties,
Inc.
1,200,000
6.375%,
8/1/2030
e
1,208,872
942,000
6.250%,
9/15/2032
e
941,203
Muvico,
LLC
995,165
9.000%,PIK
6.000%,
2/19/2029
e,f,g
1,092,845
NCL
Corporation,
Ltd.
1,026,000
5.875%,
1/15/2031
e
980,570
Nissan
Motor
Acceptance
Company,
LLC
2,399,000
5.625%,
9/29/2028
e
2,384,735
2,399,000
6.125%,
9/30/2030
e
2,342,879
Nissan
Motor
Company,
Ltd.
2,008,000
4.810%,
9/17/2030
e
1,861,309
Penn
Entertainment,
Inc.
950,000
6.750%,
4/1/2031
e,f
953,433
PetSmart,
LLC/PetSmart
Finance
Corporation
3,006,000
7.500%,
9/15/2032
e
3,037,286
Phinia,
Inc.
1,296,000
6.625%,
10/15/2032
e
1,308,890
Rakuten
Group,
Inc.
946,000
11.250%,
2/15/2027
e
972,622
1,936,000
9.750%,
4/15/2029
e
2,102,052
852,000
8.125%,
12/15/2029
b,e,h
870,793
Raven
Acquisition
Holdings,
LLC
629,000
6.875%,
11/15/2031
e
611,951
Resorts
World
Las
Vegas,
LLC/
RWLV
Capital,
Inc.
958,000
4.625%,
4/16/2029
e
861,997
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Consumer
Cyclical
17.0%
-
continued
Risewell
Homes,
Inc.
$
961,000
8.500%,
11/1/2030
e
$
980,232
S&S
Holdings,
LLC
1,569,000
8.375%,
10/1/2031
e,f
1,515,101
Service
Corporation
International/
US
964,000
3.375%,
8/15/2030
889,804
475,000
4.000%,
5/15/2031
444,097
1,143,000
5.750%,
10/15/2032
1,133,651
Six
Flags
Entertainment
Corporation/Six
Flags
Theme
Parks,
Inc./Canada's
Wonderland
Company
482,000
6.625%,
5/1/2032
e,f
485,275
Sotheby's
940,000
8.250%,
4/15/2031
e
937,667
Sotheby's/Bidfair
Holdings,
Inc.
1,000,000
5.875%,
6/1/2029
e
964,625
Staples,
Inc.
2,533,000
10.750%,
9/1/2029
e
2,423,706
Station
Casinos,
LLC
915,000
4.625%,
12/1/2031
e,f
860,363
Taylor
Morrison
Communities,
Inc.
719,000
5.750%,
11/15/2032
e
735,966
Tenneco,
Inc.
1,982,000
8.000%,
11/17/2028
e
1,986,974
TKC
Holdings,
Inc.
958,000
8.500%,
8/15/2030
e
979,315
Travel
+
Leisure
Company
1,437,000
6.250%,
6/1/2031
e
1,439,210
Victoria's
Secret
&
Company
582,000
4.625%,
7/15/2029
e
565,242
Viking
Cruises,
Ltd.
3,514,000
5.875%,
10/15/2033
e
3,479,511
Wayfair,
LLC
575,000
7.250%,
10/31/2029
e
592,126
335,000
7.750%,
9/15/2030
e
351,046
960,000
6.750%,
11/15/2032
e
977,290
704,000
7.125%,
5/31/2034
e
723,213
Wyndham
Hotels
&
Resorts,
Inc.
479,000
5.625%,
3/1/2033
e
466,176
Wynn
Macau,
Ltd.
1,880,000
6.750%,
2/15/2034
e
1,848,116
Wynn
Resorts
Finance,
LLC/Wynn
Resorts
Capital
Corporation
600,000
5.125%,
10/1/2029
e
593,767
608,000
7.125%,
2/15/2031
e
637,094
Yum!
Brands,
Inc.
2,697,000
4.750%,
1/15/2030
e
2,638,298
ZF
North
America
Capital,
Inc.
1,293,000
7.125%,
4/14/2030
e
1,301,363
963,000
6.750%,
4/23/2030
e
955,652
1,439,000
6.875%,
4/23/2032
e
1,413,773
Total
153,788,579
Consumer
Non-Cyclical
10.2%
Acadia
Healthcare
Company,
Inc.
947,000
5.000%,
4/15/2029
e
927,056
ACCO
Brands
Corporation
958,000
4.250%,
3/15/2029
e,f
903,009
AdaptHealth,
LLC
2,847,000
4.625%,
8/1/2029
e
2,744,850
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Consumer
Non-Cyclical
10.2%
-
continued
Albertsons
Companies,
Inc./
Safeway,
Inc./New
Albertsons,
LP/Albertsons,
LLC
$
2,826,000
3.500%,
3/15/2029
e
$
2,659,667
285,000
6.250%,
3/15/2033
e
276,043
1,143,000
5.750%,
3/31/2034
e
1,062,695
Amneal
Pharmaceuticals,
LLC
480,000
6.875%,
8/1/2032
e
493,198
Bausch
+
Lomb
Corporation
592,000
8.375%,
10/1/2028
e
606,800
BellRing
Brands,
Inc.
3,155,000
7.000%,
3/15/2030
e,f
3,118,717
BioMarin
Pharmaceutical,
Inc.
1,198,000
5.500%,
2/15/2034
e
1,168,735
Champ
Acquisition
Corporation
768,000
8.375%,
12/1/2031
e
800,985
CHS/Community
Health
Systems,
Inc.
1,207,000
6.000%,
1/15/2029
e
1,185,877
266,000
4.750%,
2/15/2031
e,f
237,271
792,000
10.875%,
1/15/2032
e
835,398
1,921,000
9.750%,
1/15/2034
e
1,946,092
Concentra
Health
Services,
Inc.
836,000
6.875%,
7/15/2032
e,f
859,656
CVS
Health
Corporation
1,247,000
7.000%,
3/10/2055
b
1,283,966
2,314,000
6.750%,
12/10/2054
b
2,384,188
DaVita,
Inc.
1,110,000
3.750%,
2/15/2031
e
1,023,876
1,742,000
6.875%,
9/1/2032
e
1,790,187
961,000
6.750%,
7/15/2033
e
985,204
Embecta
Corporation
954,000
6.750%,
2/15/2030
e,f
729,810
Encompass
Health
Corporation
720,000
4.500%,
2/1/2028
712,331
1,916,000
5.875%,
6/1/2034
e
1,896,946
Endo
Finance
Holdings,
LP
1,725,000
8.500%,
4/15/2031
e,f
1,816,632
Energizer
Holdings,
Inc.
2,073,000
6.000%,
9/15/2033
e,f
1,964,365
Fiesta
Purchaser,
Inc.
1,436,000
7.875%,
3/1/2031
e
1,436,551
Genmab
AS/Genmab
Finance,
LLC
2,397,000
6.250%,
12/15/2032
e
2,418,940
Grifols
SA
859,000
4.750%,
10/15/2028
e
838,119
HLF
Financing
SARL,
LLC/
Herbalife
International,
Inc.
2,635,000
7.750%,
5/1/2033
e
2,651,701
HNI
Corporation
958,000
5.125%,
1/18/2029
e
941,867
Industrial
F&B
Investments
III,
Inc.
1,078,000
7.750%,
2/11/2033
e
1,094,499
IQVIA,
Inc.
1,922,000
6.250%,
6/1/2032
e
1,946,719
KeHE
Distributors,
LLC/KeHE
Finance
Corporation/NextWave
Distribution,
Inc.
1,625,000
9.000%,
2/15/2029
e
1,692,455
718,000
7.125%,
4/30/2033
e
730,027
Lamb
Weston
Holdings,
Inc.
977,000
4.375%,
1/31/2032
e
915,718
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Consumer
Non-Cyclical
10.2%
-
continued
LifePoint
Health,
Inc.
$
973,000
9.875%,
8/15/2030
e
$
1,021,448
958,000
7.000%,
5/1/2034
e
894,811
Medline
Borrower,
LP
1,795,000
5.250%,
10/1/2029
e
1,778,215
Newell
Brands,
Inc.
997,000
6.375%,
9/15/2027
1,000,026
1,470,000
6.625%,
9/15/2029
f
1,487,681
1,092,000
6.375%,
5/15/2030
f
1,103,991
376,000
6.625%,
5/15/2032
f
380,408
959,000
7.500%,
4/1/2046
884,121
Organon
&
Company/Organon
Foreign
Debt
Co-Issuer
BV
1,215,000
5.125%,
4/30/2031
e
1,202,557
Performance
Food
Group,
Inc.
1,946,000
4.250%,
8/1/2029
e
1,881,355
750,000
6.125%,
9/15/2032
e
752,119
958,000
5.625%,
3/1/2034
e
929,257
Perrigo
Finance
Unlimited
Company
1,656,000
5.150%,
6/15/2030
1,565,753
Post
Holdings,
Inc.
1,085,000
4.625%,
4/15/2030
e
1,045,131
991,000
4.500%,
9/15/2031
e
918,446
982,000
6.250%,
10/15/2034
e
954,766
500,000
6.500%,
3/15/2036
e
487,697
Prime
Healthcare
Services,
Inc.
3,696,000
9.375%,
9/1/2029
e
3,853,671
Radiology
Partners,
Inc.
941,000
8.500%,
7/15/2032
e
988,869
Simmons
Foods,
Inc.
1,708,000
4.625%,
3/1/2029
e
1,650,986
Spectrum
Brands,
Inc.
134,000
3.875%,
3/15/2031
e
117,411
Star
Parent,
Inc.
2,000,000
9.000%,
10/1/2030
e
2,100,230
Surgery
Center
Holdings,
Inc.
958,000
7.250%,
4/15/2032
e,f
960,984
TEAM
Services
Holding,
Inc.
1,435,000
9.000%,
2/15/2033
e,f
1,453,220
Teleflex,
Inc.
239,000
5.875%,
1/15/2032
e
236,933
Tenet
Healthcare
Corporation
906,000
5.125%,
11/1/2027
905,478
2,620,000
4.375%,
1/15/2030
2,527,042
1,506,000
6.750%,
5/15/2031
1,535,861
1,439,000
5.500%,
11/15/2032
e
1,416,822
US
Acute
Care
Solutions,
LLC
2,665,000
9.750%,
5/15/2029
e
2,483,884
Viking
Baked
Goods
Acquisition
Corporation
1,436,000
8.625%,
11/1/2031
e
1,441,311
1,197,000
8.625%,
11/1/2031
e
1,201,427
Whirlpool
Corporation
1,197,000
7.500%,
7/1/2031
e
1,189,526
957,000
7.875%,
7/1/2034
e
904,747
Total
92,336,334
Energy
11.2%
Antero
Midstream
Partners,
LP/
Antero
Midstream
Finance
Corporation
1,623,000
5.375%,
6/15/2029
e
1,617,929
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Energy
11.2%
-
continued
Archrock
Services,
LP/Archrock
Partners
Finance
Corporation
$
1,437,000
6.000%,
2/1/2034
e
$
1,406,335
Ascent
Resources
Utica
Holdings,
LLC/ARU
Finance
Corporation
984,000
5.875%,
6/30/2029
e
980,534
961,000
6.625%,
7/15/2033
e
965,219
Beusa
Investments,
LLC
1,419,000
7.000%,
8/1/2031
e
1,386,888
Buckeye
Partners,
LP
946,000
4.500%,
3/1/2028
e
933,485
965,000
6.875%,
7/1/2029
e
986,932
233,000
6.750%,
2/1/2030
e
238,711
California
Resources
Corporation
475,000
7.000%,
1/15/2034
e
465,230
Caturus
Energy,
LLC
479,000
7.125%,
5/15/2031
e
474,841
CNX
Resources
Corporation
958,000
5.875%,
3/1/2034
e
928,152
Comstock
Resources,
Inc.
1,299,000
6.750%,
3/1/2029
e
1,276,134
2,460,000
5.875%,
1/15/2030
e
2,317,595
CQP
Holdco,
LP/BIP-V
Chinnok
Holdco,
LLC
1,685,000
5.500%,
6/15/2031
e
1,640,582
Crescent
Energy
Finance,
LLC
1,260,000
7.625%,
4/1/2032
e
1,273,290
1,901,000
7.875%,
4/15/2032
e
1,935,937
Delek
Logistics
Partners,
LP/Delek
Logistics
Finance
Corporation
1,103,000
8.625%,
3/15/2029
e
1,144,732
961,000
7.375%,
6/30/2033
e
982,768
958,000
6.875%,
6/1/2034
e
962,611
Energy
Transfer,
LP
2,400,000
6.500%,
2/15/2056
b
2,400,266
Excelerate
Energy,
LP
694,000
8.000%,
5/15/2030
e
727,092
Genesis
Energy,
LP/Genesis
Energy
Finance
Corporation
1,989,000
7.875%,
5/15/2032
2,054,305
718,000
6.750%,
3/15/2034
716,119
Harvest
Midstream
I,
LP
1,077,000
6.750%,
5/15/2034
e
1,081,288
Hess
Midstream
Operations,
LP
1,853,000
4.250%,
2/15/2030
e
1,774,268
Hilcorp
Energy
I,
LP/Hilcorp
Finance
Company
2,300,000
5.750%,
2/1/2029
e
2,295,501
964,000
6.000%,
4/15/2030
e
953,902
1,283,000
6.250%,
4/15/2032
e
1,245,474
Howard
Midstream
Energy
Partners,
LLC
1,016,000
7.375%,
7/15/2032
e
1,050,204
1,440,000
6.625%,
1/15/2034
e
1,456,063
479,000
6.625%,
1/15/2035
e
478,737
ITT
Holdings,
LLC
2,682,000
6.500%,
8/1/2029
e
2,651,863
Kodiak
Gas
Services,
LLC
960,000
6.500%,
10/1/2033
e
958,758
480,000
6.750%,
10/1/2035
e
483,646
Moss
Creek
Resources
Holdings,
Inc.
265,000
8.250%,
9/1/2031
e
265,615
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Energy
11.2%
-
continued
Nabors
Industries,
Inc.
$
1,111,000
9.125%,
1/31/2030
e
$
1,161,534
1,439,000
7.625%,
11/15/2032
e
1,467,735
NGL
Energy
Operating,
LLC/NGL
Energy
Finance
Corporation
797,000
8.125%,
2/15/2029
e
816,991
1,959,000
8.375%,
2/15/2032
e
2,037,137
Noble
Finance
II,
LLC
1,437,000
6.250%,
6/15/2034
e
1,395,428
Northern
Oil
and
Gas,
Inc.
1,405,000
8.750%,
6/15/2031
e,f
1,447,995
Oceaneering
International,
Inc.
718,000
6.875%,
7/15/2034
e
734,667
PBF
Holding
Company,
LLC/PBF
Finance
Corporation
1,239,000
7.875%,
9/15/2030
e
1,285,859
1,197,000
7.250%,
6/1/2034
e
1,215,616
Prairie
Acquiror,
LP
1,280,000
9.000%,
8/1/2029
e
1,320,344
Precision
Drilling
Corporation
1,184,000
6.875%,
1/15/2029
e
1,189,282
Rockies
Express
Pipeline,
LLC
1,899,000
4.950%,
7/15/2029
e
1,873,118
Saturn
Oil
&
Gas,
Inc.
1,676,000
8.500%,
7/30/2031
e
1,680,646
Seadrill
Finance,
Ltd.
957,000
6.750%,
7/15/2034
e
921,396
SESI,
LLC
1,199,000
7.875%,
9/30/2030
e
1,213,179
SM
Energy
Company
1,195,000
6.500%,
7/15/2028
1,195,877
2,651,000
8.750%,
7/1/2031
e
2,771,753
675,000
7.000%,
8/1/2032
e,f
685,784
1,395,000
6.625%,
4/15/2034
e,f
1,386,387
Solaris
Energy
Infrastructure,
Inc.
479,000
6.375%,
5/15/2031
e
470,532
Sunoco,
LP
1,992,000
7.000%,
5/1/2029
e
2,035,378
1,920,000
5.875%,
3/15/2034
e
1,879,202
Sunoco,
LP/Sunoco
Finance
Corporation
1,385,000
5.875%,
3/15/2028
1,385,357
Tallgrass
Energy
Partners,
LP/
Tallgrass
Energy
Finance
Corporation
1,025,000
5.500%,
1/15/2028
e
1,023,789
1,446,000
7.375%,
2/15/2029
e
1,478,872
2,400,000
6.750%,
3/15/2034
e
2,414,909
TGNR
Intermediate
Holdings,
LLC
1,562,000
5.500%,
10/15/2029
e
1,528,253
Transocean
International,
Ltd.
960,000
8.250%,
5/15/2029
e
989,915
USA
Compression
Partners,
LP/
USA
Compression
Finance
Corporation
1,440,000
6.250%,
10/1/2033
e
1,417,091
Valaris,
Ltd.
1,063,000
8.375%,
4/30/2030
e
1,100,525
Venture
Global
LNG,
Inc.
2,013,000
9.000%,
9/30/2029
b,e,h
2,004,908
667,000
7.000%,
1/15/2030
e
677,609
3,615,000
8.375%,
6/1/2031
e
3,737,180
1,849,000
9.875%,
2/1/2032
e
1,968,590
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Energy
11.2%
-
continued
$
1,197,000
6.375%,
12/15/2034
e
$
1,165,780
1,197,000
6.625%,
6/15/2036
e,f
1,173,136
Venture
Global
Plaquemines
LNG,
LLC
718,000
6.125%,
12/15/2030
e
729,375
1,345,000
6.500%,
1/15/2034
e
1,387,853
718,000
6.500%,
6/15/2034
e
740,496
962,000
7.750%,
5/1/2035
e
1,066,138
2,396,000
6.750%,
1/15/2036
e
2,507,884
Total
101,194,506
Financials
13.1%
Acrisure,
LLC/Acrisure
Finance,
Inc.
475,000
4.250%,
2/15/2029
e
442,830
482,000
7.500%,
11/6/2030
e
466,170
Alliant
Holdings
Intermediate,
LLC/
Alliant
Holdings
Co-Issuer,
Inc.
964,000
4.250%,
10/15/2027
e
953,009
1,191,000
6.750%,
4/15/2028
e
1,196,371
1,372,000
7.000%,
1/15/2031
e
1,392,237
Ally
Financial,
Inc.
1,136,000
6.700%,
2/14/2033
f
1,157,951
AmWINS
Group,
Inc.
796,000
6.375%,
2/15/2029
e
799,218
388,000
4.875%,
6/30/2029
e
373,475
Asurion,
LLC/Asurion
Co-Issuer,
Inc.
1,916,000
8.000%,
12/31/2032
e
1,938,275
958,000
8.375%,
2/1/2034
e
872,841
Azorra
Finance,
Ltd.
2,394,000
6.250%,
2/15/2034
e
2,347,976
Burford
Capital
Global
Finance,
LLC
1,693,000
9.250%,
7/1/2031
e
1,650,444
961,000
7.500%,
7/15/2033
e,f
810,296
1,149,000
8.500%,
1/15/2034
e
993,885
Centene
Corporation
3,352,000
4.625%,
12/15/2029
3,251,900
2,155,000
3.375%,
2/15/2030
1,993,136
3,352,000
3.000%,
10/15/2030
3,012,278
Citigroup,
Inc.
955,000
6.875%,
12/29/2049
b,h
964,224
Constellation
Insurance,
Inc.
1,158,000
6.800%,
1/24/2030
e
1,145,168
CRC
Insurance
Group,
LLC
479,000
7.125%,
6/1/2031
e
478,098
Drawbridge
Special
Opportunities
Fund,
LP/Drawbridge
Special
Opportunities
Finance
Corporation
2,866,000
5.950%,
9/17/2030
e
2,748,341
Encore
Capital
Group,
Inc.
753,000
8.500%,
5/15/2030
e
797,246
992,000
6.625%,
4/15/2031
e
996,213
1,000,000
6.625%,
6/1/2032
e
1,001,372
First
Eagle
Holdings,
Inc.
1,437,000
7.250%,
8/15/2032
e
1,453,777
FirstCash,
Inc.
1,885,000
5.625%,
1/1/2030
e
1,855,674
1,197,000
6.125%,
5/1/2034
e
1,179,995
Freedom
Mortgage
Holdings,
LLC
1,549,000
9.250%,
2/1/2029
e
1,591,926
959,000
6.875%,
5/1/2031
e
924,464
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Financials
13.1%
-
continued
$
964,000
9.125%,
5/15/2031
e
$
988,231
479,000
8.000%,
2/1/2032
e
475,252
918,000
8.375%,
4/1/2032
e
922,038
960,000
7.875%,
4/1/2033
e
925,846
FTAI
Aviation
Investors,
LLC
1,010,000
5.500%,
5/1/2028
e
1,006,645
1,307,000
7.000%,
5/1/2031
e
1,343,319
1,127,000
7.000%,
6/15/2032
e
1,150,694
GGAM
Finance,
Ltd.
996,000
8.000%,
6/15/2028
e
1,030,257
12,000
6.875%,
4/15/2029
e
12,195
2,401,000
5.875%,
3/15/2030
e
2,385,994
Global
Aircraft
Leasing
Company,
Ltd.
2,345,000
8.750%,
9/1/2027
e,f
2,382,342
Global
Net
Lease,
Inc.
631,000
4.500%,
9/30/2028
e
616,173
Global
Net
Lease,
Inc./Global
Net
Lease
Operating
Partnership,
LP
734,000
3.750%,
12/15/2027
e
717,030
goeasy,
Ltd.
1,191,000
9.250%,
12/1/2028
e
1,176,948
482,000
7.625%,
7/1/2029
e
457,648
1,920,000
6.875%,
2/15/2031
e,f
1,717,225
Howard
Hughes
Corporation
316,000
4.125%,
2/1/2029
e
304,594
717,000
5.875%,
3/1/2032
e
700,369
HSBC
Holdings
plc
250,000
6.750%,
11/18/2032
b,h
248,148
HUB
International,
Ltd.
1,490,000
7.250%,
6/15/2030
e
1,534,207
Icahn
Enterprises,
LP/Icahn
Enterprises
Finance
Corporation
3,131,000
5.250%,
5/15/2027
3,110,987
Jane
Street
Group/JSG
Finance,
Inc.
1,559,000
4.500%,
11/15/2029
e
1,512,582
579,000
7.125%,
4/30/2031
e
597,541
966,000
6.125%,
11/1/2032
e
961,169
2,420,000
6.750%,
5/1/2033
e,f
2,466,268
Jefferies
Finance,
LLC/JFIN
Co-
Issuer
Corporation
1,847,000
6.625%,
10/15/2031
e
1,814,056
Jefferson
Capital
Holdings,
LLC
798,000
6.000%,
8/15/2026
e
796,366
1,028,000
9.500%,
2/15/2029
e
1,071,727
473,000
8.250%,
5/15/2030
e,f
493,905
Liberty
Mutual
Group,
Inc.
543,000
4.125%,
12/15/2051
b,e
539,369
MPT
Operating
Partnership,
LP/
MPT
Finance
Corporation
1,527,000
8.500%,
2/15/2032
e
1,551,905
Navient
Corporation
578,000
5.000%,
3/15/2027
575,421
316,000
5.500%,
3/15/2029
f
302,660
OneMain
Finance
Corporation
1,919,000
6.750%,
3/15/2032
1,909,701
4,085,000
7.125%,
9/15/2032
4,127,770
957,000
6.750%,
9/15/2033
941,574
Osaic
Holdings,
Inc.
868,000
6.750%,
8/1/2032
e
871,104
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Financials
13.1%
-
continued
Park
Intermediate
Holdings,
LLC/
PK
Domestic
Property,
LLC/PK
Finance
Co-Issuer,
Inc.
$
2,286,000
4.875%,
5/15/2029
e
$
2,228,129
PennyMac
Financial
Services,
Inc.
480,000
7.125%,
11/15/2030
e
478,502
1,443,000
6.875%,
5/15/2032
e
1,379,358
661,000
6.875%,
2/15/2033
e
627,188
480,000
6.750%,
2/15/2034
e
445,212
Phoenix
Aviation
Capital,
Ltd.
1,538,000
9.250%,
7/15/2030
e
1,592,333
PRA
Group,
Inc.
1,436,000
8.875%,
1/31/2030
e
1,478,579
RHP
Hotel
Properties,
LP/RHP
Finance
Corporation
965,000
4.500%,
2/15/2029
e
942,703
239,000
5.750%,
3/15/2034
e
234,048
Rithm
Capital
Corporation
480,000
8.000%,
4/1/2029
e
483,736
1,672,000
8.000%,
7/15/2030
e
1,672,096
958,000
8.500%,
6/1/2031
e
960,339
RLJ
Lodging
Trust,
LP
886,000
4.000%,
9/15/2029
e
843,946
Rocket
Companies,
Inc.
506,000
6.500%,
8/1/2029
e
512,646
933,000
6.125%,
8/1/2030
e
940,564
239,000
6.125%,
8/1/2031
e
240,089
481,000
7.125%,
2/1/2032
e
492,999
1,442,000
6.375%,
8/1/2033
e
1,450,569
239,000
6.500%,
6/15/2034
e
240,889
Rocket
Mortgage,
LLC/Rocket
Mortgage
Co-Issuer,
Inc.
1,800,000
3.875%,
3/1/2031
e
1,667,550
624,000
4.000%,
10/15/2033
e
551,094
Ryan
Specialty,
LLC
481,000
4.375%,
2/1/2030
e
464,426
1,471,000
5.875%,
8/1/2032
e
1,450,766
SLM
Corporation
470,000
6.500%,
1/31/2030
475,391
958,000
6.495%,
5/15/2032
b
954,569
Societe
Generale
SA
963,000
10.000%,
11/14/2028
b,e,h
1,044,791
Starwood
Property
Trust,
Inc.
1,440,000
5.250%,
10/15/2028
e
1,427,168
952,000
6.500%,
10/15/2030
e
965,116
479,000
6.125%,
6/1/2031
e
477,866
Stonebriar
ABF
Issuer,
LLC
767,000
8.125%,
12/15/2030
e
798,580
957,000
7.000%,
8/15/2031
e
957,722
Stonex
Escrow
Issuer,
LLC
2,143,000
6.875%,
7/15/2032
e
2,175,274
Sumisho
Air
Lease
Corporation
713,000
8.256%,
9/15/2026
b,h
714,758
Synchrony
Financial
1,011,000
7.250%,
2/2/2033
1,039,071
United
Wholesale
Mortgage,
LLC
2,151,000
5.500%,
4/15/2029
e
2,008,889
Vornado
Realty,
LP
479,000
5.750%,
2/1/2033
474,943
XHR,
LP
961,000
4.875%,
6/1/2029
e,f
936,232
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Financials
13.1%
-
continued
$
482,000
6.625%,
5/15/2030
e
$
492,282
Total
118,848,463
Technology
10.3%
Amentum
Holdings,
Inc.
1,518,000
7.250%,
8/1/2032
e
1,559,583
APLD
ComputeCo
2,
LLC
1,891,000
6.750%,
3/15/2031
e
1,848,469
APLD
ComputeCo
3,
LLC
2,134,000
7.000%,
6/15/2031
e
2,081,237
APLD
ComputeCo,
LLC
2,586,000
9.250%,
12/15/2030
e
2,748,287
AthenaHealth
Group,
Inc.
718,000
7.500%,
2/15/2032
e
736,108
Block,
Inc.
960,000
5.625%,
8/15/2030
e
955,089
712,000
3.500%,
6/1/2031
649,153
3,056,000
6.500%,
5/15/2032
3,087,489
960,000
6.000%,
8/15/2033
e
952,021
CACI
International,
Inc.
638,000
6.375%,
6/15/2033
e
642,937
Cipher
Compute,
LLC
1,522,000
7.125%,
11/15/2030
e
1,552,457
Cloud
Software
Group,
LLC
5,818,000
6.500%,
3/31/2029
e
5,685,135
3,591,000
9.000%,
9/30/2029
e
3,518,288
Coherent
Corporation
965,000
5.000%,
12/15/2029
e
944,241
Core
Scientific
Finance
I,
LLC
2,155,000
7.750%,
5/15/2031
e
2,110,230
CoreLogic,
Inc.
960,000
9.000%,
8/1/2031
e
946,580
CoreWeave,
Inc.
1,289,000
9.250%,
6/1/2030
e
1,204,643
1,440,000
9.000%,
2/1/2031
e,f
1,299,879
1,436,000
9.750%,
10/1/2031
e
1,302,973
718,000
9.625%,
7/15/2032
e
642,632
Diebold
Nixdorf,
Inc.
972,000
7.750%,
3/31/2030
e
1,009,051
Edged
Compute,
LLC
958,000
7.500%,
4/30/2031
e,f
908,084
Elk
Grove
Village
Property,
LLC
958,000
7.500%,
6/15/2031
e
922,796
Everforth,
Inc.
475,000
4.625%,
5/15/2028
e,f
453,416
Fair
Isaac
Corporation
1,682,000
6.000%,
5/15/2033
e
1,627,935
950,000
6.250%,
9/15/2034
e
917,749
Flash
Compute,
LLC
1,530,000
7.250%,
12/31/2030
e
1,545,028
Galaxy
Helios
Data
Centers
II,
LLC
1,436,000
9.875%,
8/1/2031
e
1,439,906
Gen
Digital,
Inc.
2,136,000
7.125%,
9/30/2030
e
2,168,457
481,000
6.250%,
4/1/2033
e
473,496
GoDaddy
Operating
Company,
LLC/GD
Finance
Company,
Inc.
964,000
3.500%,
3/1/2029
e
901,960
ION
Platform
Finance
US,
Inc.
1,853,000
7.875%,
9/30/2032
e
1,467,600
ION
Platform
Finance
US,
Inc./ION
Platform
Finance
SARL
1,439,000
9.500%,
5/30/2029
e
1,361,644
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Technology
10.3%
-
continued
Iron
Mountain,
Inc.
$
765,000
5.000%,
7/15/2028
e
$
757,593
2,130,000
4.875%,
9/15/2029
e
2,078,093
1,593,000
5.250%,
7/15/2030
e
1,556,698
2,663,000
4.500%,
2/15/2031
e
2,520,380
958,000
6.250%,
1/15/2035
e
945,942
Meridian
Arc
Holdco,
LLC
3,816,000
6.250%,
4/30/2031
e
3,666,538
NCR
Atleos
Corporation
797,000
9.500%,
4/1/2029
e
845,254
NCR
Voyix
Corporation
1,147,000
5.000%,
10/1/2028
e
1,111,079
902,000
5.125%,
4/15/2029
e
874,597
Neptune
Bidco
US,
Inc.
2,705,000
9.290%,
4/15/2029
e
2,755,972
719,000
10.375%,
5/15/2031
e
752,753
1,341,000
9.500%,
2/15/2033
e,f
1,366,042
Open
Text
Corporation
2,201,000
3.875%,
12/1/2029
e
2,024,361
Open
Text
Holdings,
Inc.
2,601,000
4.125%,
2/15/2030
e
2,399,529
PR
RNO
Property
Owner
1,
LLC
3,090,000
6.500%,
5/1/2031
e
2,909,603
RingCentral,
Inc.
1,797,000
8.500%,
8/15/2030
e
1,874,666
Rocket
Software,
Inc.
1,192,000
9.000%,
11/28/2028
e
1,179,826
Sabre
GLBL,
Inc.
1,722,000
11.125%,
7/15/2030
e
1,657,425
Shift4
Payments,
LLC/Shift4
Payments
Finance
Sub,
Inc.
2,059,000
6.750%,
8/15/2032
e
2,061,916
SS&C
Technologies,
Inc.
1,191,000
6.500%,
6/1/2032
e
1,199,812
Stingray
Compute,
LLC
1,178,000
6.000%,
6/15/2031
e
1,149,229
SV
RNO
Property
Owner
1,
LLC
2,763,000
5.875%,
3/1/2031
e
2,565,710
UKG,
Inc.
2,069,000
6.875%,
2/1/2031
e
2,027,130
Viavi
Solutions,
Inc.
1,123,000
3.750%,
10/1/2029
e
1,059,510
WULF
Compute,
LLC
959,000
7.750%,
10/15/2030
e
996,369
Xerox
Corporation
948,000
10.250%,
10/15/2030
e,f
855,570
Yondr
JK
1,
LLC
478,000
6.875%,
6/30/2031
e
455,254
Total
93,311,404
Transportation
2.4%
Allegiant
Travel
Company
1,428,000
7.125%,
7/1/2031
e
1,446,961
American
Airlines,
Inc./
AAdvantage
Loyalty
IP,
Ltd.
1,903,939
5.750%,
4/20/2029
e
1,893,469
Avianca
Midco
2
plc
2,296,000
9.625%,
2/14/2030
e
2,217,752
1,000,000
9.500%,
1/28/2031
e
933,993
Avis
Budget
Car
Rental,
LLC/Avis
Budget
Finance,
Inc.
529,000
5.375%,
3/1/2029
e
515,009
718,000
8.000%,
2/15/2031
e,f
716,909
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Transportation
2.4%
-
continued
Carrix,
Inc.
$
2,378,000
6.125%,
8/1/2033
e
$
2,367,017
DCLI
Bidco,
LLC
1,577,000
7.750%,
11/15/2029
e
1,619,981
Rand
Parent,
LLC
2,376,000
8.500%,
2/15/2030
e
2,435,733
RXO,
Inc.
1,197,000
6.375%,
5/15/2031
e
1,194,442
Star
Leasing
Company,
LLC
713,000
7.625%,
2/15/2030
e
694,064
Stena
International
SA
1,593,000
7.250%,
1/15/2031
e
1,621,398
Stonepeak
Nile
Parent,
LLC
472,000
7.250%,
3/15/2032
e
486,515
United
Airlines
Holdings,
Inc.
718,000
4.875%,
3/1/2029
707,007
VistaJet
Malta
Finance
plc/Vista
Management
Holding,
Inc.
1,905,000
9.500%,
6/1/2028
e,f
1,934,535
782,000
6.375%,
2/1/2030
e,f
737,891
Total
21,522,676
Utilities
3.6%
AES
Corporation
1,439,000
7.600%,
1/15/2055
b
1,462,971
479,000
6.950%,
7/15/2055
b
470,403
Algonquin
Power
&
Utilities
Corporation
3,772,000
4.750%,
1/18/2082
b
3,736,946
Alpha
Generation,
LLC
687,000
6.750%,
10/15/2032
e
692,989
Dominion
Energy,
Inc.
482,000
6.875%,
2/1/2055
b
492,899
482,000
7.000%,
6/1/2054
b
502,892
Duke
Energy
Corporation
474,000
6.450%,
9/1/2054
b
485,455
Emera
US
Finance,
LLC
479,000
6.850%,
10/1/2056
b
482,655
Hawaiian
Electric
Company,
Inc.
480,000
6.000%,
10/1/2033
e,f
470,881
Long
Ridge
Energy,
LLC
2,158,000
8.750%,
2/15/2032
e
2,234,024
NRG
Energy,
Inc.
3,494,000
5.750%,
1/15/2034
e
3,402,818
1,916,000
5.875%,
5/15/2034
e
1,880,937
1,155,000
6.250%,
11/1/2034
e
1,151,956
1,916,000
6.125%,
5/15/2036
e
1,891,294
PacifiCorp
958,000
7.125%,
8/15/2056
b
943,191
PG&E
Corporation
958,000
7.375%,
3/15/2055
b
972,771
742,000
5.000%,
7/1/2028
734,997
Talen
Energy
Supply,
LLC
1,437,000
6.250%,
2/1/2034
e
1,409,425
480,000
6.500%,
2/1/2036
e
474,012
TerraForm
Power
Operating,
LLC
3,293,000
5.000%,
1/31/2028
e
3,258,036
Topaz
Solar
Farms,
LLC
935,196
4.875%,
9/30/2039
e
818,297
TransAlta
Corporation
1,424,000
5.875%,
2/1/2034
1,388,175
Vistra
Corporation
965,000
8.000%,
10/15/2026
b,e,h
969,425
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 94.8%
Value
Utilities
3.6%
-
continued
$
1,859,000
7.000%,
12/15/2026
b,e,h
$
1,868,935
Total
32,196,384
Total
Long-Term
Fixed
Income
(cost
$863,752,809)
859,084,928
Shares
Collateral
Held
for
Securities
Loaned
7.4%
Value
67,499,311
Thrivent
Cash
Management
Trust
67,499,311
Total
Collateral
Held
for
Securities
Loaned
(cost
$67,499,311)
67,499,311
Shares
Registered
Investment
Companies
0.6%
Value
U.S.
Unaffiliated
0.6%
144,000
iShares
Broad
USD
High
Yield
Corporate
Bond
ETF
5,296,320
Total
5,296,320
Total
Registered
Investment
Companies
(cost
$5,306,400)
5,296,320
Shares
or
Principal
Amount
Short-Term
Investments
2.7%
Value
State
Street
Institutional
U.S.
Government
Money
Market
Fund
24,698,246
3.619%
i
24,698,246
Total
Short-Term
Investments
(cost
$24,698,246)
24,698,246
Total
Investments
(cost
$971,071,225)
106.6%
$966,248,000
Other
Assets
and
Liabilities,
Net
(6.6%)
(59,994,683)
Total
Net
Assets
100.0%
$906,253,317
a
The
stated
interest
rate
represents
the
weighted
average
of
all
contracts
within
the
bank
loan
facility.
b
Denotes
variable
rate
securities.
The
rate
shown
is
as
of
July
31,
2026.
The
rates
of
certain
variable
rate
securities
are
based
on
a
published
reference
rate
and
spread;
these
may
vary
by
security
and
the
reference
rate
and
spread
are
indicated
in
their
description. The
rates
of
other
variable
rate
securities
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.
c
All
or
a
portion
of
the
loan
is
unfunded.
d
Denotes
investments
purchased
on
a
when-issued
or
delayed-delivery
basis.
e
Denotes
securities
sold
under
Rule
144A
of
the
Securities
Act
of
1933,
which
exempts
them
from
registration.
These
securities
may
be
resold
to
other
dealers
in
the
program
or
to
other
qualified
institutional
buyers.
As
of
July
31,
2026,
the
value
of
these
investments
was
$750,103,139
or
82.8%
of
total
net
assets.
f
All
or
a
portion
of
the
security
is
on
loan.
g
Denotes
payment-in-kind
security. The
security
may
pay
an
interest
or
dividend
payment
with
additional
fixed
income
or
equity
securities
in
lieu
of,
or
in
addition
to
a
cash
payment. The
cash
rate
and/or
payment-in-kind
rate
shown
are
as
of
July
31,
2026.
h
Denotes
perpetual
securities.
Perpetual
securities
pay
an
indefinite
stream
of
income
and
have
no
contractual
maturity
date.
Date
shown,
if
applicable,
is
next
call
date.
i
The
interest
rate
shown
reflects
the
yield.
The
following
table
presents
the
total
amount
of
securities
loaned
with
continuous
maturity,
by
type,
offset
by
the
gross
payable
upon
return
of
collateral
for
securities
loaned
by
High
Yield
Bond
Fund
as
of
July
31,
2026:
Securities
Lending
Transactions
Long-Term
Fixed
Income
$
64,604,182
Total
lending
$64,604,182
Gross
amount
payable
upon
return
of
collateral
for
securities
loaned
$67,499,311
Net
amounts
due
to
counterparty
$2,895,129
Definitions:
DAC
-
Designated
Activity
Company
ETF
-
Exchange-Traded
Fund
PIK
-
Payment-In-Kind
plc
-
Public
Limited
Company
Reference
Rate
Index:
TSFR1M
-
CME
Term
SOFR
1
Month
TSFR3M
-
CME
Term
SOFR
3
Month
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Fair
Valuation
Measurements
The
following
table
is
a
summary
of
the
inputs
used,
as
of
July
31,
2026,
in
valuing
High
Yield
Bond
Fund's
assets
carried
at
fair
value.
Investments
in
Securities
Total
Level
1
Level
2
Level
3
Bank
Loans
Communications
Services
3,792,742
–
3,792,742
–
Consumer
Cyclical
1,904,923
–
1,904,923
–
Consumer
Non-Cyclical
2,979,450
–
2,979,450
–
Transportation
992,080
–
992,080
–
Long-Term
Fixed
Income
Basic
Materials
53,765,266
–
53,765,266
–
Capital
Goods
95,591,511
–
95,591,511
–
Communications
Services
96,529,805
–
96,529,805
–
Consumer
Cyclical
153,788,579
–
153,788,579
–
Consumer
Non-Cyclical
92,336,334
–
92,336,334
–
Energy
101,194,506
–
101,194,506
–
Financials
118,848,463
–
118,848,463
–
Technology
93,311,404
–
93,311,404
–
Transportation
21,522,676
–
21,522,676
–
Utilities
32,196,384
–
32,196,384
–
Registered
Investment
Companies
U.S.
Unaffiliated
5,296,320
5,296,320
–
–
Short-Term
Investments
24,698,246
24,698,246
–
–
Subtotal
Investments
in
Securities
$898,748,689
$29,994,566
$868,754,123
$–
Other
Investments *
Total
Collateral
Held
for
Securities
Loaned
67,499,311
Subtotal
Other
Investments
$67,499,311
Total
Investments
at
Value
$966,248,000
*
Certain
investments
are
measured
at
fair
value
using
a
net
asset
value
per
share
that
is
not
publicly
available
(practical
expedient). According
to
disclosure
requirements
of
Accounting
Standards
Codification
(ASC)
820,
Fair
Value
Measurement,
securities
valued
using
the
practical
expedient
are
not
classified
in
the
fair
value
hierarchy. The
fair
value
amounts
presented
in
the
table
above
are
intended
to
permit
reconciliation
of
the
fair
value
hierarchy
to
the
amounts
presented
in
the
Statement
of
Assets
and
Liabilities.
High
Yield
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Investment
in
Affiliates
Affiliated
issuers,
as
defined
under
the
Investment
Company
Act
of
1940,
include
those
in
which
the
Fund's
holdings
of
an
issuer
represent
5%
or
more
of
the
outstanding
voting
securities
of
an
issuer,
any
affiliated
fund,
or
a
company
which
is
under
common
ownership
or
control
with
the
Fund.
A
summary
of
transactions
(in
thousands;
values
shown
as
zero
are
less
than
$500)
for
the
fiscal
year
to
date,
in
High
Yield
Bond
Fund,
is
as
follows:
Fund
Value
3/4/2026
Gross
Purchases
Gross
Sales
Value
7/31/2026
Shares
Held
at
7/31/2026
%
of
Net
Assets
7/31/2026
Collateral
Held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$–
$169,508
$102,009
$67,499
67,499
7.4%
Total
Collateral
Held
for
Securities
Loaned
–
67,499
7.4
Total
Value
$–
$67,499
Fund
Net
Realized
Gain/(Loss)
Change
in
Unrealized
Appreciation/
(Depreciation)
Distributions
of
Realized
Capital
Gains
Income
Earned
3/4/2026
-
7/31/2026
Collateral
Held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$–
$–
$
–
$130
Total
Affiliated
Income
from
Securities
Loaned,
Net
$130
Total
$–
$–
$–
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income
98.3%
Value
Basic
Materials
1.6%
Anglo
American
Capital
plc
$
1,800,000
5.250%,
3/19/2036
a
$
1,746,627
ArcelorMittal
SA
2,050,000
5.375%,
5/19/2036
b
1,995,021
Dow
Chemical
Company
2,800,000
3.600%,
11/15/2050
1,801,435
Ecolab,
Inc.
2,800,000
5.150%,
6/15/2033
2,795,346
LYB
International
Finance
III,
LLC
3,750,000
3.375%,
10/1/2040
2,696,685
Nutrien,
Ltd.
1,650,000
5.350%,
5/29/2036
1,614,739
Smurfit
Kappa
Treasury,
ULC
2,650,000
5.777%,
4/3/2054
2,526,547
SNF
Group
SACA
1,550,000
5.626%,
3/31/2031
a
1,555,379
United
States
Steel
Corporation
1,250,000
5.700%,
8/1/2036
a
1,224,428
Vale
Overseas,
Ltd.
2,800,000
3.750%,
7/8/2030
2,663,788
Total
20,619,995
Capital
Goods
3.3%
Amphenol
Corporation
3,290,000
5.300%,
11/15/2055
2,968,245
Amrize
Finance
US,
LLC
1,857,000
5.400%,
4/7/2035
1,847,585
BAE
Systems
plc
1,050,000
5.500%,
3/26/2054
a
993,916
1,500,000
5.250%,
3/26/2031
a
1,518,913
Boeing
Company
500,000
6.858%,
5/1/2054
535,633
2,350,000
5.930%,
5/1/2060
2,194,054
1,250,000
5.040%,
5/1/2027
1,253,685
1,125,000
5.150%,
5/1/2030
1,130,603
1,325,000
6.388%,
5/1/2031
1,393,901
250,000
6.528%,
5/1/2034
267,738
1,866,000
3.300%,
3/1/2035
1,581,765
2,304,000
5.705%,
5/1/2040
2,276,521
Booz
Allen
Hamilton,
Inc.
1,410,000
5.375%,
1/30/2030
c
1,409,918
Carrier
Global
Corporation
900,000
2.722%,
2/15/2030
836,414
Deere
&
Company
500,000
5.700%,
1/19/2055
487,421
GE
Vernova,
Inc.
469,000
5.500%,
2/4/2056
432,500
Honeywell
Aerospace,
Inc.
2,300,000
4.600%,
3/16/2033
a
2,223,633
1,877,000
5.622%,
3/16/2046
a
1,789,396
Howmet
Aerospace,
Inc.
931,000
4.550%,
11/15/2032
902,732
1,868,000
4.750%,
4/15/2036
1,777,991
John
Deere
Capital
Corporation
50,000
5.150%,
9/8/2033
50,290
Lockheed
Martin
Corporation
1,000,000
5.200%,
2/15/2064
870,479
942,000
6.150%,
9/1/2036
1,003,966
Martin
Marietta
Materials,
Inc.
1,410,000
5.150%,
12/1/2034
1,379,678
Northrop
Grumman
Corporation
1,000,000
5.200%,
6/1/2054
b
885,412
250,000
4.700%,
3/15/2033
243,911
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Capital
Goods
3.3%
-
continued
$
3,800,000
3.850%,
4/15/2045
$
2,890,212
Republic
Services,
Inc.
250,000
5.000%,
12/15/2033
248,354
RTX
Corporation
595,000
6.400%,
3/15/2054
621,051
4,710,000
4.500%,
6/1/2042
4,059,320
Trane
Technologies
Financing,
Ltd.
1,866,000
5.100%,
6/13/2034
1,848,884
Waste
Connections,
Inc.
250,000
3.200%,
6/1/2032
227,575
1,175,000
4.800%,
7/15/2036
1,122,698
Total
43,274,394
Communications
Services
8.2%
American
Tower
Corporation
350,000
1.450%,
9/15/2026
348,889
250,000
5.500%,
3/15/2028
252,830
1,000,000
5.800%,
11/15/2028
1,021,638
690,000
3.800%,
8/15/2029
669,492
2,079,000
5.000%,
1/31/2030
2,080,199
AppLovin
Corporation
4,685,000
5.375%,
12/1/2031
4,690,236
AT&T,
Inc.
2,805,000
5.700%,
3/1/2057
2,486,364
1,500,000
6.050%,
8/15/2056
1,356,718
3,398,000
3.500%,
9/15/2053
2,052,643
2,500,000
3.550%,
9/15/2055
1,499,457
2,850,000
6.200%,
10/30/2056
b
2,637,951
3,430,000
4.900%,
8/15/2037
3,162,835
Bell
Telephone
Company
of
Canada
200,000
5.100%,
5/11/2033
196,255
Charter
Communications
Operating,
LLC/Charter
Communications
Operating
Capital
Corporation
750,000
6.700%,
12/1/2055
b
661,932
750,000
6.550%,
6/1/2034
741,577
1,810,000
5.850%,
12/1/2035
1,690,137
4,685,000
3.500%,
6/1/2041
3,169,858
Comcast
Corporation
2,306,000
5.350%,
5/15/2053
1,877,346
1,000,000
6.050%,
5/15/2055
b
904,483
1,500,000
5.650%,
6/1/2054
b
1,277,448
225,000
3.400%,
4/1/2030
211,948
3,266,000
4.750%,
3/1/2044
b
2,633,165
Crown
Castle,
Inc.
2,308,000
4.900%,
9/1/2029
2,301,550
5,600,000
5.800%,
3/1/2034
5,642,444
Deutsche
Telekom
International
Finance
BV
6,168,000
8.750%,
6/15/2030
6,866,449
Meta
Platforms,
Inc.
1,403,000
5.600%,
5/15/2053
1,173,493
2,800,000
6.300%,
5/15/2056
2,569,616
2,741,000
5.400%,
8/15/2054
2,231,262
1,000,000
5.550%,
8/15/2064
799,762
1,000,000
5.625%,
11/15/2055
836,365
2,826,000
5.500%,
11/15/2045
2,444,569
Omnicom
Group,
Inc.
500,000
4.200%,
6/1/2030
485,613
Orange
SA
4,665,000
4.250%,
1/13/2031
a
4,502,070
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Communications
Services
8.2%
-
continued
SBA
Communications
Corporation
$
3,750,000
5.150%,
7/15/2031
$
3,721,270
SoftBank
Corporation
2,800,000
5.332%,
7/9/2035
a,b
2,704,261
Sopaipilla
Investor,
LLC
1,175,000
7.534%,
11/30/2048
a
1,217,868
Space
Exploration
Technologies
Corporation
4,250,000
5.350%,
7/15/2031
a
4,136,650
4,000,000
5.650%,
7/15/2033
a
3,832,108
Sprint
Capital
Corporation
600,000
6.875%,
11/15/2028
626,258
4,419,000
8.750%,
3/15/2032
5,142,015
Take-Two
Interactive
Software,
Inc.
1,859,000
5.600%,
6/12/2034
b
1,872,811
T-Mobile
USA,
Inc.
500,000
5.500%,
1/15/2055
429,863
1,000,000
5.250%,
6/15/2055
827,137
3,933,000
3.600%,
11/15/2060
2,351,160
500,000
5.125%,
5/15/2032
496,936
2,808,000
4.950%,
11/15/2035
2,660,847
Verizon
Communications,
Inc.
1,367,000
5.875%,
11/30/2055
1,248,794
1,833,000
6.000%,
11/30/2065
1,663,880
338,000
4.780%,
2/15/2035
319,331
900,000
5.250%,
4/2/2035
877,412
2,310,000
5.000%,
1/15/2036
2,191,171
1,090,000
5.401%,
7/2/2037
1,055,591
Walt
Disney
Company
4,686,000
4.625%,
3/14/2036
4,445,991
Total
107,297,948
Consumer
Cyclical
4.9%
Amazon.com,
Inc.
2,825,000
5.100%,
7/9/2033
2,798,751
Best
Buy
Company,
Inc.
250,000
1.950%,
10/1/2030
221,621
Block
Financial,
LLC
3,751,000
5.375%,
9/15/2032
b
3,677,878
CBRE
Services,
Inc.
2,334,000
4.900%,
1/15/2033
2,270,536
Ford
Motor
Credit
Company,
LLC
3,684,000
2.900%,
2/10/2029
3,458,975
3,750,000
7.200%,
6/10/2030
3,923,913
General
Motors
Financial
Company,
Inc.
2,757,000
5.450%,
7/15/2030
2,791,955
350,000
5.750%,
2/8/2031
357,200
1,159,000
5.625%,
4/4/2032
1,176,452
1,000,000
5.950%,
4/4/2034
1,018,472
1,609,000
5.450%,
1/8/2036
b
1,571,550
GLP
Capital,
LP
3,646,000
5.750%,
6/1/2028
3,674,581
Home
Depot,
Inc.
500,000
5.300%,
6/25/2054
449,820
500,000
5.400%,
6/25/2064
448,812
1,509,000
4.250%,
4/1/2046
1,204,735
Hyundai
Capital
America
3,525,000
1.800%,
1/10/2028
a
3,379,190
500,000
6.500%,
1/16/2029
a
516,723
Hyundai
Capital
Services,
Inc.
200,000
5.125%,
2/5/2027
a
200,393
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Consumer
Cyclical
4.9%
-
continued
Las
Vegas
Sands
Corporation
$
942,000
5.900%,
6/1/2027
$
949,773
3,252,000
5.625%,
6/15/2028
3,281,487
Lennar
Corporation
2,801,000
5.200%,
7/30/2030
2,814,092
Lowe's
Companies,
Inc.
1,872,000
5.625%,
4/15/2053
b
1,716,742
McDonald's
Corporation
2,676,000
4.450%,
3/1/2047
2,159,481
Meritage
Homes
Corporation
2,809,000
5.650%,
3/15/2035
2,788,016
Stellantis
Finance
US,
Inc.
800,000
6.450%,
3/18/2035
a,b
778,889
Stellantis
Financial
Services
US
Corporation
1,300,000
5.400%,
9/15/2030
a
1,264,882
2,800,000
5.800%,
6/15/2031
a
2,746,830
Toyota
Motor
Credit
Corporation
2,820,000
5.000%,
7/8/2033
2,782,166
Uber
Technologies,
Inc.
2,810,000
4.800%,
9/15/2034
2,690,026
2,827,000
4.800%,
9/15/2035
2,678,853
VICI
Properties,
LP/VICI
Note
Company,
Inc.
2,683,000
5.750%,
2/1/2027
a
2,689,769
1,354,000
4.125%,
8/15/2030
a
1,286,881
Total
63,769,444
Consumer
Non-Cyclical
12.6%
Abbott
Laboratories
2,350,000
5.500%,
3/15/2056
2,190,092
3,988,000
4.300%,
3/15/2033
3,821,314
1,750,000
4.750%,
11/30/2036
1,671,611
175,000
6.000%,
4/1/2039
183,578
AbbVie,
Inc.
900,000
5.400%,
3/15/2054
823,735
1,250,000
5.500%,
3/15/2064
1,136,169
1,410,000
4.125%,
3/15/2031
1,366,874
3,685,000
4.400%,
3/15/2033
3,551,304
6,023,000
4.500%,
5/14/2035
5,691,651
2,800,000
5.350%,
3/15/2044
2,628,879
Altria
Group,
Inc.
1,847,000
6.875%,
11/1/2033
2,014,073
Amgen,
Inc.
1,000,000
5.650%,
2/19/2056
933,306
2,806,000
5.600%,
3/2/2043
2,689,591
Anheuser-Busch
Companies,
LLC/Anheuser-Busch
InBev
Worldwide,
Inc.
3,702,000
4.700%,
2/1/2036
3,521,387
Anheuser-Busch
InBev
Worldwide,
Inc.
3,835,000
5.450%,
1/23/2039
3,802,630
2,304,000
5.550%,
1/23/2049
2,172,747
AstraZeneca
Finance,
LLC
3,742,000
4.300%,
3/2/2033
3,587,310
1,404,000
4.600%,
3/2/2036
1,331,982
BAT
Capital
Corporation
500,000
7.750%,
10/19/2032
563,964
5,158,000
7.079%,
8/2/2043
5,558,520
Becton,
Dickinson
and
Company
3,565,000
3.794%,
5/20/2050
2,445,701
750,000
2.823%,
5/20/2030
694,946
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Consumer
Non-Cyclical
12.6%
-
continued
Bio-Rad
Laboratories,
Inc.
$
250,000
3.300%,
3/15/2027
$
248,122
Bristol-Myers
Squibb
Company
3,680,000
3.550%,
3/15/2042
2,821,666
Bunge,
Ltd.
Finance
Corporation
3,320,000
3.200%,
4/21/2031
3,071,243
945,000
4.650%,
9/17/2034
899,568
Cencora,
Inc.
2,809,000
4.250%,
11/15/2030
2,729,439
3,749,000
4.600%,
2/13/2033
b
3,627,070
600,000
5.150%,
2/15/2035
589,855
Cigna
Group
500,000
5.600%,
2/15/2054
461,179
255,000
2.400%,
3/15/2030
233,978
4,000,000
4.875%,
9/15/2032
3,942,100
5,604,000
5.250%,
1/15/2036
5,495,183
Conagra
Brands,
Inc.
1,250,000
1.375%,
11/1/2027
1,199,033
Constellation
Brands,
Inc.
500,000
4.800%,
1/15/2029
500,192
400,000
3.150%,
8/1/2029
380,835
690,000
2.875%,
5/1/2030
639,751
300,000
4.900%,
5/1/2033
292,263
CVS
Health
Corporation
1,000,000
6.050%,
6/1/2054
952,407
192,000
4.300%,
3/25/2028
190,835
1,837,000
5.450%,
9/15/2035
1,818,030
3,336,000
4.780%,
3/25/2038
3,045,840
4,140,000
6.000%,
6/1/2044
3,995,825
1,798,000
5.125%,
7/20/2045
1,562,603
Eli
Lilly
&
Company
1,000,000
5.000%,
2/9/2054
873,207
1,393,000
5.500%,
2/12/2055
1,310,728
1,397,000
4.950%,
2/27/2063
1,173,556
2,800,000
4.650%,
5/20/2033
2,743,086
General
Mills,
Inc.
948,000
4.950%,
3/29/2033
928,283
Gilead
Sciences,
Inc.
1,650,000
4.600%,
5/20/2031
1,630,091
200,000
5.250%,
10/15/2033
201,880
Hasbro,
Inc.
693,000
4.650%,
3/12/2031
679,083
HCA,
Inc.
500,000
5.950%,
9/15/2054
465,084
2,830,000
5.250%,
3/1/2030
2,851,338
3,276,000
3.500%,
9/1/2030
3,087,962
2,807,000
4.600%,
11/15/2032
2,699,032
1,358,000
5.450%,
9/15/2034
1,348,811
1,000,000
5.750%,
3/1/2035
1,008,280
Illumina,
Inc.
750,000
4.650%,
9/9/2026
750,233
Imperial
Brands
Finance
plc
2,725,000
3.875%,
7/26/2029
a
2,643,103
JBS
NV/JBS
USA
Foods
Group
Holdings,
Inc./JBS
USA
Food
Company
Holdings
2,811,000
6.375%,
4/15/2066
2,622,674
600,000
3.625%,
1/15/2032
550,459
2,750,000
5.950%,
4/20/2035
2,778,375
Kimberly-Clark
Corporation
2,750,000
3.900%,
5/4/2047
2,082,074
Kraft
Heinz
Foods
Company
500,000
6.750%,
3/15/2032
536,772
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Consumer
Non-Cyclical
12.6%
-
continued
$
1,850,000
5.000%,
6/4/2042
$
1,600,022
389,000
4.375%,
6/1/2046
299,382
Mars,
Inc.
2,710,000
5.650%,
5/1/2045
a
2,589,120
Medtronic
Global
Holdings
SCA
200,000
4.500%,
3/30/2033
193,114
Merck
&
Company,
Inc.
3,722,000
5.550%,
12/4/2055
b
3,471,760
Novartis
Capital
Corporation
2,828,000
4.700%,
9/18/2054
2,364,138
Pfizer
Investment
Enterprises,
Private
Ltd.
2,000,000
5.300%,
5/19/2053
1,793,878
1,833,000
5.110%,
5/19/2043
1,672,543
Philip
Morris
International,
Inc.
150,000
4.875%,
2/15/2028
150,642
250,000
5.625%,
11/17/2029
256,062
853,000
5.500%,
9/7/2030
871,924
250,000
5.750%,
11/17/2032
258,693
2,804,000
5.375%,
2/15/2033
2,835,719
750,000
5.250%,
2/13/2034
749,864
Roche
Holdings,
Inc.
750,000
5.218%,
3/8/2054
a
682,645
725,000
2.076%,
12/13/2031
a
631,167
1,800,000
4.666%,
12/2/2035
a
1,725,605
Royalty
Pharma
plc
2,349,000
5.150%,
9/2/2029
2,370,101
1,871,000
5.200%,
9/25/2035
1,821,770
Stryker
Corporation
2,325,000
5.200%,
2/10/2035
2,305,621
Takeda
Pharmaceutical
Company,
Ltd.
1,300,000
5.650%,
7/5/2054
1,211,933
2,784,000
5.650%,
7/5/2044
2,663,059
Takeda
US
Financing,
Inc.
200,000
5.200%,
7/7/2035
195,959
Teva
Pharmaceutical
Finance
Netherlands
III
BV
1,900,000
4.100%,
10/1/2046
1,400,236
Thermo
Fisher
Scientific,
Inc.
1,856,000
4.902%,
2/12/2036
1,794,379
Tyson
Foods,
Inc.
1,627,000
4.950%,
2/20/2036
1,551,606
Wyeth,
LLC
2,343,000
6.500%,
2/1/2034
2,518,660
Zoetis,
Inc.
350,000
5.600%,
11/16/2032
358,411
Total
164,380,505
Energy
5.7%
Baker
Hughes
Holdings,
LLC/
Baker
Hughes
Co-Obligor,
Inc.
2,800,000
5.000%,
6/15/2036
2,687,668
Boardwalk
Pipelines,
LP
3,766,000
5.375%,
2/15/2036
3,671,517
BP
Capital
Markets
America,
Inc.
4,853,000
2.939%,
6/4/2051
2,926,182
750,000
4.812%,
2/13/2033
734,508
250,000
5.227%,
11/17/2034
b
249,919
Cheniere
Energy
Partners,
LP
500,000
3.250%,
1/31/2032
452,372
750,000
5.950%,
6/30/2033
772,283
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Energy
5.7%
-
continued
Cheniere
Energy,
Inc.
$
952,000
5.650%,
4/15/2034
$
961,299
Columbia
Pipelines
Holding
Company,
LLC
750,000
6.042%,
8/15/2028
a
766,933
Columbia
Pipelines
Operating
Company,
LLC
465,000
5.927%,
8/15/2030
a
479,986
950,000
5.507%,
5/15/2036
a
933,704
Continental
Resources,
Inc.
3,273,000
2.268%,
11/15/2026
a
3,250,046
Eastern
Energy
Gas
Holdings,
LLC
3,734,000
5.800%,
1/15/2035
3,792,034
Enbridge,
Inc.
750,000
5.950%,
4/5/2054
717,283
250,000
5.700%,
3/8/2033
254,971
Energy
Transfer,
LP
500,000
5.950%,
5/15/2054
459,230
500,000
6.050%,
9/1/2054
464,389
795,000
4.000%,
10/1/2027
789,531
2,000,000
5.150%,
2/1/2043
1,744,174
3,565,000
6.000%,
6/15/2048
3,331,463
Exxon
Mobil
Corporation
2,625,000
3.452%,
4/15/2051
1,780,430
Kinder
Morgan,
Inc.
1,875,000
6.150%,
8/1/2056
c
1,824,363
MPLX,
LP
2,784,000
4.800%,
2/15/2031
2,748,338
2,745,000
4.950%,
9/1/2032
2,699,069
949,000
5.000%,
3/1/2033
928,266
500,000
5.500%,
6/1/2034
497,979
2,328,000
5.300%,
4/1/2036
2,253,627
Occidental
Petroleum
Corporation
1,000,000
8.875%,
7/15/2030
1,114,621
3,000,000
7.500%,
5/1/2031
3,281,907
1,900,000
7.950%,
6/15/2039
2,196,185
ONEOK,
Inc.
2,379,000
5.700%,
11/1/2054
2,104,348
500,000
5.650%,
11/1/2028
508,534
2,338,000
4.750%,
10/15/2031
2,288,982
989,000
5.600%,
4/1/2044
897,516
Santos
Finance,
Ltd.
1,394,000
5.750%,
11/13/2035
a
1,377,094
Schlumberger
Holdings
Corporation
65,000
4.300%,
5/1/2029
a
64,353
South
Bow
USA
Infrastructure
Holdings,
LLC
1,556,000
5.026%,
10/1/2029
1,551,245
912,000
5.584%,
10/1/2034
895,906
TotalEnergies
Capital
SA
1,500,000
5.488%,
4/5/2054
1,381,361
100,000
5.275%,
9/10/2054
89,268
TotalEnergies
Capital
USA,
LLC
1,250,000
4.569%,
1/13/2033
1,212,207
TransCanada
PipeLines,
Ltd.
1,270,000
6.375%,
10/17/2056
b,d
1,273,824
Var
Energi
ASA
1,300,000
5.875%,
5/22/2030
a
1,326,577
Western
Midstream
Operating,
LP
515,000
6.350%,
1/15/2029
530,554
2,783,000
4.800%,
3/1/2031
2,730,171
935,000
6.150%,
4/1/2033
961,700
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Energy
5.7%
-
continued
$
700,000
5.700%,
7/1/2036
$
690,997
Williams
Companies,
Inc.
1,000,000
4.900%,
3/15/2029
1,002,194
3,310,000
7.500%,
1/15/2031
b
3,647,346
500,000
2.600%,
3/15/2031
448,333
1,179,000
5.600%,
3/15/2035
1,180,445
Total
74,927,232
Financials
39.3%
200
Park
Funding
Trust
1,117,000
5.740%,
2/15/2055
a
1,050,110
AerCap
Ireland
Capital
DAC/
AerCap
Global
Aviation
Trust
600,000
5.750%,
6/6/2028
609,694
3,289,000
5.375%,
12/15/2031
3,301,780
2,075,000
4.750%,
1/15/2033
2,000,292
Agree,
LP
1,866,000
5.625%,
6/15/2034
1,879,042
Aircastle,
Ltd.
550,000
2.850%,
1/26/2028
a
533,618
Ally
Financial,
Inc.
5,171,000
8.000%,
11/1/2031
5,706,455
American
Express
Company
750,000
5.043%,
7/26/2028
d
753,431
250,000
5.085%,
1/30/2031
d
251,173
2,793,000
5.412%,
2/8/2041
d
2,727,364
American
Homes
4
Rent,
LP
1,470,000
4.950%,
6/15/2030
1,460,481
American
International
Group,
Inc.
4,728,000
5.125%,
3/27/2033
4,693,054
Americold
Realty
Operating
Partnership,
LP
2,804,000
5.600%,
5/15/2032
2,784,250
Ameriprise
Financial,
Inc.
950,000
4.800%,
6/15/2031
942,161
3,730,000
5.200%,
4/15/2035
b
3,660,698
ANZ
Bank
New
Zealand,
Ltd.
1,800,000
5.548%,
8/11/2032
a,d
1,807,945
Aon
Global,
Ltd.
1,374,000
4.600%,
6/14/2044
1,140,941
Aon
North
America,
Inc.
2,366,000
5.750%,
3/1/2054
2,197,790
Apollo
Debt
Solutions
BDC
417,000
5.200%,
12/8/2028
a
410,650
2,797,000
5.700%,
1/23/2031
a
2,722,475
2,816,000
6.700%,
7/29/2031
2,845,965
Arch
Capital
Group,
Ltd.
1,650,000
5.950%,
6/15/2056
1,588,928
Ares
Capital
Corporation
2,198,000
5.875%,
3/1/2029
2,207,506
Ares
Strategic
Income
Fund
4,499,000
5.450%,
9/9/2028
4,472,611
Arthur
J.
Gallagher
&
Company
460,000
6.750%,
2/15/2054
482,338
1,428,000
5.750%,
7/15/2054
1,322,891
Atlas
Warehouse
Lending
Company,
LP
2,750,000
4.950%,
11/15/2030
a
2,686,953
Aviation
Capital
Group,
LLC
1,356,000
5.125%,
4/10/2030
a
1,348,728
3,738,000
4.875%,
1/28/2033
a
3,588,898
Avolon
Holdings
Funding,
Ltd.
1,200,000
4.950%,
1/15/2028
a
1,202,175
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Financials
39.3%
-
continued
$
3,275,000
5.750%,
3/1/2029
a
$
3,325,632
3,749,000
5.375%,
5/30/2030
a
3,757,909
1,853,000
4.700%,
1/30/2031
a
1,804,487
Banco
Santander
Mexico
SA
200,000
5.621%,
12/10/2029
a
202,520
Banco
Santander
SA
3,800,000
4.175%,
3/24/2028
d
3,787,484
400,000
6.921%,
8/8/2033
426,581
Bank
of
America
Corporation
250,000
4.948%,
7/22/2028
d
250,700
1,634,000
5.202%,
4/25/2029
d
1,647,217
1,340,000
2.087%,
6/14/2029
d
1,276,791
1,000,000
5.819%,
9/15/2029
d
1,020,160
2,575,000
3.974%,
2/7/2030
d
2,518,019
1,250,000
5.162%,
1/24/2031
d
1,256,214
3,975,000
2.496%,
2/13/2031
d
3,651,596
4,700,000
1.922%,
10/24/2031
d
4,140,545
1,750,000
2.687%,
4/22/2032
d
1,569,686
750,000
2.572%,
10/20/2032
d
661,194
3,812,000
2.972%,
2/4/2033
d
3,402,157
3,121,000
4.571%,
4/27/2033
d
3,021,637
2,767,000
5.872%,
9/15/2034
d
2,845,928
4,741,000
5.425%,
8/15/2035
d
4,661,741
4,250,000
3.846%,
3/8/2037
d
3,906,981
Bank
of
Montreal
500,000
3.088%,
1/10/2037
d
442,898
Bank
of
New
York
Mellon
Corporation
100,000
4.596%,
7/26/2030
d
99,552
175,000
6.474%,
10/25/2034
d
187,108
Barclays
plc
700,000
5.501%,
8/9/2028
d
705,107
3,440,000
4.972%,
5/16/2029
d
3,443,134
3,715,000
4.942%,
9/10/2030
d
3,695,955
2,800,000
5.746%,
8/9/2033
d
2,846,392
665,000
6.224%,
5/9/2034
d
688,157
500,000
7.119%,
6/27/2034
d
538,670
1,800,000
5.860%,
8/11/2046
d
1,720,445
BBVA
Mexico
SA,
Institucion
de
Banca
Multiple,
Grupo
Financiero
BBVA
Mexico/TX
2,050,000
5.400%,
6/3/2031
a
2,035,240
Belrose
Funding
Trust
II
750,000
6.792%,
5/15/2055
a
745,553
Berkshire
Hathaway
Finance
Corporation
2,744,000
2.850%,
10/15/2050
1,651,510
BlackRock,
Inc.
1,407,000
5.250%,
3/14/2054
1,253,059
Blackstone
Private
Credit
Fund
2,800,000
5.600%,
11/22/2029
2,752,250
2,820,000
5.050%,
9/10/2030
2,695,835
Blackstone
Reg
Finance
Company,
LLC
1,155,000
4.950%,
2/15/2036
b
1,099,778
Blue
Owl
Credit
Income
Corporation
3,093,000
4.700%,
2/8/2027
3,081,166
Blue
Owl
Technology
Finance
Corporation
500,000
6.100%,
3/15/2028
b
500,013
2,090,000
6.750%,
4/4/2029
b
2,086,844
2,806,000
6.125%,
1/23/2031
b
2,695,563
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Financials
39.3%
-
continued
BNP
Paribas
SA
$
2,725,000
5.283%,
11/19/2030
a,d
$
2,736,657
Brixmor
Operating
Partnership,
LP
400,000
2.250%,
4/1/2028
384,927
Brookfield
Asset
Management,
Ltd.
471,000
6.077%,
9/15/2055
453,078
Brookfield
Finance,
Inc.
1,864,000
5.813%,
3/3/2055
1,719,774
Brown
&
Brown,
Inc.
931,000
5.550%,
6/23/2035
912,908
Capital
One
Financial
Corporation
250,000
3.273%,
3/1/2030
d
239,742
1,612,000
4.722%,
1/30/2032
b,d
1,576,321
250,000
6.700%,
11/29/2032
268,335
Charles
Schwab
Corporation
2,363,000
6.136%,
8/24/2034
d
2,467,931
3,766,000
4.914%,
11/14/2036
d
3,598,031
Chubb
INA
Holdings,
LLC
1,175,000
5.300%,
5/20/2036
1,163,283
Citadel
Finance,
LLC
1,000,000
5.900%,
2/10/2030
a
1,003,383
Citadel,
LP
2,327,000
6.375%,
1/23/2032
a
2,399,026
Citibank
NA
500,000
5.570%,
4/30/2034
508,106
Citigroup,
Inc.
950,000
3.070%,
2/24/2028
d
942,106
4,052,000
3.668%,
7/24/2028
d
4,013,186
2,164,000
3.520%,
10/27/2028
d
2,133,539
2,000,000
4.075%,
4/23/2029
d
1,977,649
4,244,000
4.952%,
5/7/2031
d
4,223,863
3,981,000
4.910%,
5/24/2033
d
3,917,815
2,833,000
6.174%,
5/25/2034
d
2,907,519
3,051,000
6.020%,
1/24/2036
d
3,088,413
1,262,000
5.174%,
9/11/2036
d
1,229,596
Commonwealth
Bank
of
Australia
600,000
2.688%,
3/11/2031
a
538,065
COPT
Defense
Properties,
LP
1,835,000
4.500%,
10/15/2030
1,791,911
Corebridge
Financial,
Inc.
1,400,000
6.375%,
9/15/2054
d
1,373,790
500,000
5.750%,
1/15/2034
b
505,301
Cousins
Properties,
LP
912,000
5.375%,
2/15/2032
914,872
2,805,000
4.875%,
3/1/2033
2,688,438
Credit
Agricole
SA
500,000
3.250%,
1/14/2030
a
468,998
2,750,000
4.818%,
9/25/2033
a,d
2,659,379
3,235,000
5.261%,
1/12/2037
a,d
3,115,760
Credit
Suisse
Group
AG
2,800,000
7.250%,
N/A
*,e
672,000
Deutsche
Bank
AG/New
York,
NY
2,327,000
5.297%,
5/9/2031
d
2,328,364
1,600,000
4.950%,
8/4/2031
d
1,580,253
3,750,000
3.729%,
1/14/2032
d
3,465,478
750,000
3.742%,
1/7/2033
d
682,899
Drawbridge
Special
Opportunities
Fund,
LP/Drawbridge
Special
Opportunities
Finance
Corporation
3,741,000
5.950%,
9/17/2030
a
3,587,419
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Financials
39.3%
-
continued
Elevance
Health,
Inc.
$
1,000,000
4.625%,
5/15/2042
$
853,008
EPR
Properties
500,000
4.950%,
4/15/2028
498,529
3,749,000
4.750%,
11/15/2030
3,647,556
Essential
Properties,
LP
1,388,000
5.400%,
12/1/2035
1,350,161
Fifth
Third
Bancorp
930,000
5.982%,
1/30/2030
a,d
951,832
500,000
4.772%,
7/28/2030
b,d
497,247
First
Citizens
BancShares,
Inc./NC
4,000,000
5.600%,
9/5/2035
d
3,909,851
Franklin
BSP
Capital
Corporation
2,817,000
6.000%,
10/2/2030
a
2,728,881
FS
KKR
Capital
Corporation
500,000
2.625%,
1/15/2027
491,982
Goldman
Sachs
Group,
Inc.
500,000
2.640%,
2/24/2028
d
494,421
400,000
3.615%,
3/15/2028
d
397,706
1,000,000
4.482%,
8/23/2028
d
997,594
1,000,000
3.814%,
4/23/2029
d
983,276
2,770,000
6.484%,
10/24/2029
d
2,858,462
2,033,000
5.218%,
4/23/2031
d
2,036,321
935,000
1.992%,
1/27/2032
d
815,065
500,000
2.615%,
4/22/2032
d
444,555
500,000
2.383%,
7/21/2032
d
436,814
6,936,000
3.102%,
2/24/2033
d
6,200,892
1,000,000
5.330%,
7/23/2035
d
982,940
500,000
5.016%,
10/23/2035
d
481,121
1,868,000
4.939%,
10/21/2036
d
1,766,767
950,000
5.425%,
6/3/2037
d
928,081
3,525,000
5.655%,
7/21/2037
d
3,508,947
2,805,000
5.387%,
2/2/2041
d
2,657,036
1,637,000
5.541%,
1/21/2047
d
1,507,509
Goldman
Sachs
Private
Credit
Corporation
904,000
5.050%,
2/23/2028
898,522
1,068,000
5.875%,
5/6/2028
b
1,074,188
Golub
Capital
Private
Credit
Fund
923,000
5.600%,
4/15/2031
a
880,296
Hartford
Insurance
Group,
Inc.
500,000
2.800%,
8/19/2029
471,569
Healthcare
Realty
Holdings,
LP
4,693,000
2.000%,
3/15/2031
4,082,613
Highwoods
Realty,
LP
1,390,000
5.350%,
1/15/2033
1,362,569
HPS
Corporate
Lending
Fund
1,337,000
5.150%,
4/2/2029
a
1,302,528
HSBC
Holdings
plc
400,000
6.161%,
3/9/2029
d
408,206
1,400,000
4.583%,
6/19/2029
d
1,393,735
2,782,000
5.130%,
3/3/2031
d
2,777,920
600,000
2.804%,
5/24/2032
d
536,567
3,755,000
5.741%,
9/10/2036
d
3,710,784
Huntington
Bancshares,
Inc./OH
2,811,000
6.141%,
11/18/2039
d
2,815,127
JPMorgan
Chase
&
Company
1,500,000
4.005%,
4/23/2029
d
1,482,245
500,000
2.069%,
6/1/2029
d
476,607
2,725,000
4.203%,
7/23/2029
d
2,696,338
2,850,000
2.522%,
4/22/2031
d
2,612,181
1,617,000
4.347%,
1/22/2032
d
1,567,363
3,490,000
1.953%,
2/4/2032
d
3,050,889
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Financials
39.3%
-
continued
$
500,000
2.963%,
1/25/2033
d
$
446,974
3,309,000
4.912%,
7/25/2033
d
3,265,367
500,000
5.717%,
9/14/2033
d
509,220
500,000
5.350%,
6/1/2034
d
500,730
500,000
6.254%,
10/23/2034
d
524,858
250,000
5.336%,
1/23/2035
d
249,252
2,798,000
5.766%,
4/22/2035
d
2,858,590
1,861,000
5.502%,
1/24/2036
d
1,863,657
3,747,000
4.810%,
10/22/2036
d
3,557,684
2,823,000
5.534%,
11/29/2045
d
2,689,018
KeyBank
NA
750,000
3.900%,
4/13/2029
728,275
Kilroy
Realty,
LP
2,350,000
2.650%,
11/15/2033
1,873,916
2,810,000
5.875%,
10/15/2035
2,726,129
Lloyds
Banking
Group
plc
800,000
6.068%,
6/13/2036
d
808,161
LPL
Holdings,
Inc.
3,663,000
4.900%,
4/3/2028
3,661,242
Macquarie
AirFinance
Holdings,
Ltd.
666,000
6.400%,
3/26/2029
a
683,635
1,865,000
5.150%,
3/17/2030
a
1,847,708
Macquarie
Bank,
Ltd.
3,755,000
5.642%,
8/13/2036
a,d
3,673,109
Macquarie
Group,
Ltd.
400,000
1.629%,
9/23/2027
a,d
398,302
Marsh
&
McLennan
Companies,
Inc.
700,000
5.450%,
3/15/2053
637,114
500,000
2.375%,
12/15/2031
438,840
Mizuho
Financial
Group,
Inc.
1,300,000
5.098%,
5/13/2031
d
1,299,942
500,000
5.748%,
7/6/2034
d
509,237
2,000,000
5.337%,
7/13/2037
d
1,947,408
Morgan
Stanley
1,845,000
5.516%,
11/19/2055
d
1,688,449
350,000
5.123%,
2/1/2029
d
351,530
1,868,000
5.164%,
4/20/2029
d
1,877,504
2,600,000
3.622%,
4/1/2031
d
2,475,065
500,000
2.943%,
1/21/2033
d
444,628
500,000
4.889%,
7/20/2033
d
490,668
2,368,000
5.250%,
4/21/2034
d
2,345,003
500,000
5.424%,
7/21/2034
d
499,040
1,852,000
5.831%,
4/19/2035
d
1,886,377
1,394,000
5.587%,
1/18/2036
d
1,397,519
1,000,000
2.484%,
9/16/2036
d
858,268
3,279,000
5.297%,
4/20/2037
d
3,223,112
1,880,000
5.605%,
7/17/2037
d
1,868,691
3,500,000
5.314%,
1/18/2041
d
3,317,081
Nasdaq,
Inc.
2,360,000
3.250%,
4/28/2050
1,514,230
National
Australia
Bank,
Ltd.
2,750,000
5.625%,
6/4/2037
a,d
2,687,053
Nationwide
Building
Society
1,300,000
5.537%,
7/14/2036
a,d
1,283,031
NatWest
Group
plc
500,000
4.892%,
5/18/2029
d
501,181
1,875,000
4.445%,
5/8/2030
d
1,849,834
4,047,000
6.475%,
6/1/2034
d
4,166,924
New
York
Life
Global
Funding
500,000
5.000%,
1/9/2034
a
490,557
Nippon
Life
Insurance
Company
3,750,000
5.046%,
4/2/2033
a
3,703,335
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Financials
39.3%
-
continued
Nomura
Holdings,
Inc.
$
750,000
2.172%,
7/14/2028
$
713,696
2,970,000
5.783%,
7/3/2034
3,013,708
2,800,000
5.545%,
7/14/2036
2,748,242
Northwestern
Mutual
Life
Insurance
Company
500,000
6.170%,
5/29/2055
a
491,991
Omega
Healthcare
Investors,
Inc.
2,993,000
3.625%,
10/1/2029
2,858,020
2,569,000
5.200%,
7/1/2030
2,554,800
Omnis
Funding
Trust
1,594,000
6.722%,
5/15/2055
a
1,595,770
Pinnacle
Bank/Nashville,
TN
3,500,000
5.625%,
2/15/2028
3,523,122
Pinnacle
Financial
Partners,
Inc.
1,175,000
5.596%,
5/19/2032
d
1,164,913
PNC
Bank
NA
500,000
2.700%,
10/22/2029
466,505
PNC
Financial
Services
Group,
Inc.
918,000
6.615%,
10/20/2027
d
921,898
500,000
5.582%,
6/12/2029
d
507,342
500,000
6.875%,
10/20/2034
d
542,215
2,257,000
5.423%,
1/25/2041
d
2,163,324
Prologis
Targeted
US
Logistics
Fund,
LP
2,597,000
5.250%,
4/1/2029
a
2,621,119
1,399,000
5.250%,
1/15/2035
a,b
1,373,207
Prologis,
LP
1,845,000
5.250%,
3/15/2054
1,659,598
Protective
Life
Corporation
3,733,000
4.700%,
1/15/2031
a
3,648,751
Prudential
Financial,
Inc.
3,562,000
5.125%,
3/1/2052
b,d
3,460,910
1,250,000
6.500%,
3/15/2054
b,d
1,278,834
Regency
Centers,
LP
2,120,000
5.250%,
1/15/2034
2,104,691
Reinsurance
Group
of
America,
Inc.
500,000
6.000%,
9/15/2033
514,173
750,000
5.750%,
9/15/2034
756,248
RGA
Global
Funding
1,395,000
5.500%,
1/11/2031
a
1,416,021
Santander
Holdings
USA,
Inc.
500,000
2.490%,
1/6/2028
d
495,265
933,000
6.499%,
3/9/2029
d
954,725
2,739,000
5.473%,
3/20/2029
d
2,760,692
800,000
6.174%,
1/9/2030
d
818,526
2,800,000
5.701%,
6/5/2037
d
2,729,270
Simon
Property
Group,
LP
500,000
6.250%,
1/15/2034
526,458
Sixth
Street
Lending
Partners
1,870,000
6.125%,
7/15/2030
1,866,545
Societe
Generale
SA
3,286,000
5.249%,
5/22/2029
a,d
3,300,402
2,800,000
5.439%,
10/3/2036
a,d
2,696,300
Standard
Chartered
plc
725,000
2.608%,
1/12/2028
a,d
718,538
2,300,000
5.545%,
1/21/2029
a,d
2,322,284
State
Street
Corporation
1,650,000
4.558%,
4/23/2032
d
1,616,486
200,000
4.421%,
5/13/2033
d
193,543
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Financials
39.3%
-
continued
Sumisho
Air
Lease
Corporation
$
550,000
3.125%,
12/1/2030
$
505,333
3,739,000
4.850%,
3/24/2031
a
3,670,152
Sumitomo
Mitsui
Financial
Group,
Inc.
350,000
5.716%,
9/14/2028
356,716
2,400,000
1.710%,
1/12/2031
b
2,081,481
300,000
5.766%,
1/13/2033
307,440
3,760,000
5.334%,
3/3/2041
d
3,588,495
Synchrony
Financial
3,754,000
4.947%,
2/25/2032
d
3,636,017
Teachers
Insurance
&
Annuity
Association
of
America
2,800,000
6.050%,
6/15/2056
a
2,708,018
Toronto-Dominion
Bank
1,392,000
5.146%,
9/10/2034
d
1,389,716
1,128,000
4.928%,
10/15/2035
1,082,214
TPG
Operating
Group
II,
LP
2,820,000
4.875%,
5/15/2031
2,756,084
Travelers
Companies,
Inc.
1,650,000
4.950%,
7/24/2031
1,648,450
914,000
5.050%,
7/24/2035
893,178
Truist
Bank
500,000
2.250%,
3/11/2030
452,997
Truist
Financial
Corporation
1,336,000
5.125%,
12/15/2027
b,d,f
1,325,920
450,000
1.887%,
6/7/2029
d
426,859
2,292,000
4.597%,
1/27/2032
d
2,237,607
1,000,000
5.153%,
8/5/2032
d
996,467
2,332,000
5.122%,
1/26/2034
d
2,293,672
1,860,000
5.711%,
1/24/2035
d
1,878,839
U.S.
Bancorp
750,000
4.548%,
7/22/2028
d
749,669
2,798,000
5.775%,
6/12/2029
d
2,849,320
948,000
5.836%,
6/12/2034
d
971,428
1,945,000
5.678%,
1/23/2035
d
1,972,004
1,850,000
5.723%,
5/20/2041
d
1,807,454
UBS
Group
AG
1,000,000
3.869%,
1/12/2029
a,d
989,101
2,329,000
3.091%,
5/14/2032
a,d
2,114,939
1,250,000
6.875%,
6/5/2032
a,d,f
1,240,474
2,275,000
5.699%,
2/8/2035
a,d
2,295,231
1,800,000
5.379%,
9/6/2045
a,d
1,654,458
UnitedHealth
Group,
Inc.
1,500,000
5.375%,
4/15/2054
1,343,540
Unum
Group
2,097,000
5.250%,
12/15/2035
2,016,257
Wells
Fargo
&
Company
2,311,000
3.526%,
3/24/2028
d
2,295,446
1,828,000
5.707%,
4/22/2028
d
1,841,961
1,075,000
3.584%,
5/22/2028
d
1,066,224
750,000
4.808%,
7/25/2028
d
751,017
1,861,000
5.574%,
7/25/2029
d
1,889,094
1,625,000
4.478%,
4/4/2031
d
1,596,918
1,891,000
5.389%,
4/24/2034
d
1,891,539
500,000
5.557%,
7/25/2034
d
503,986
500,000
6.491%,
10/23/2034
d
530,808
2,000,000
5.499%,
1/23/2035
d
2,004,041
500,000
5.605%,
4/23/2036
d
503,070
3,149,000
4.960%,
1/23/2037
d
3,004,501
3,600,000
4.900%,
11/17/2045
3,021,868
Western
Alliance
Bank
1,400,000
6.537%,
11/15/2035
d
1,381,534
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Financials
39.3%
-
continued
Wynnton
Funding
Trust
II
$
1,379,000
5.991%,
8/15/2055
a
$
1,324,691
Zions
Bancorp
NA
2,750,000
4.704%,
8/18/2028
d
2,740,451
1,750,000
4.483%,
2/9/2029
d
1,736,053
Total
514,783,033
Foreign
Government
0.6%
Corporacion
Nacional
del
Cobre
de
Chile
2,800,000
5.529%,
1/30/2037
a
2,685,760
Eagle
Funding
Luxco
SARL
1,550,000
5.500%,
8/17/2030
a
1,547,288
Mexico
Government
International
Bond
2,800,000
5.625%,
9/22/2035
2,665,600
NBN
Company,
Ltd.
650,000
4.150%,
9/16/2030
a
632,416
Saudi
Arabian
Oil
Company
800,000
4.375%,
2/2/2031
a
771,703
Total
8,302,767
Technology
10.2%
Accenture
Capital,
Inc.
2,794,000
4.500%,
10/4/2034
2,624,583
Advanced
Micro
Devices,
Inc.
1,873,000
4.393%,
6/1/2052
1,428,869
Alphabet,
Inc.
1,377,000
5.250%,
5/15/2055
1,193,806
5,369,000
4.400%,
2/15/2033
5,150,216
1,783,000
4.700%,
11/15/2035
1,697,650
1,155,000
4.800%,
2/15/2036
1,108,201
Analog
Devices,
Inc.
75,000
2.100%,
10/1/2031
65,427
Apple,
Inc.
1,050,000
2.650%,
2/8/2051
601,867
4,100,000
3.750%,
9/12/2047
3,017,414
Automatic
Data
Processing,
Inc.
2,800,000
5.000%,
5/7/2036
2,728,209
Beacon
Point
DC,
LLC
2,350,000
6.129%,
11/30/2042
a
2,254,896
Broadcom,
Inc.
3,818,000
4.900%,
7/15/2032
3,732,098
995,000
3.469%,
4/15/2034
859,561
500,000
4.800%,
10/15/2034
471,673
3,750,000
3.137%,
11/15/2035
3,048,232
3,750,000
3.187%,
11/15/2036
2,983,059
1,890,000
4.926%,
5/15/2037
a
1,758,637
1,872,000
4.900%,
2/15/2038
1,743,213
Cisco
Systems,
Inc.
899,000
5.300%,
2/26/2054
804,062
1,000,000
5.350%,
2/26/2064
882,491
Dell
International,
LLC/EMC
Corporation
2,820,000
5.000%,
2/15/2034
b
2,737,563
Dell,
Inc.
2,354,000
6.500%,
4/15/2038
2,457,592
Equinix
Europe
2
Financing
Corporation,
LLC
3,760,000
4.700%,
3/15/2033
3,584,603
Fiserv,
Inc.
1,890,000
2.650%,
6/1/2030
1,725,032
2,835,000
5.350%,
3/15/2031
2,832,962
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Technology
10.2%
-
continued
$
1,883,000
5.600%,
3/2/2033
$
1,876,063
1,000,000
5.450%,
3/15/2034
974,691
2,821,000
5.150%,
8/12/2034
2,683,418
Foundry
JV
Holdco,
LLC
1,800,000
5.900%,
1/25/2030
a
1,839,370
1,300,000
5.900%,
1/25/2033
a
1,323,986
1,800,000
6.400%,
1/25/2038
a
1,858,903
Global
Payments,
Inc.
750,000
4.950%,
8/15/2027
752,074
500,000
5.300%,
8/15/2029
500,700
Hewlett
Packard
Enterprise
Company
1,250,000
4.400%,
9/25/2027
1,246,103
2,820,000
6.350%,
10/15/2045
2,767,402
HUT
8
DC,
LLC
1,200,000
6.192%,
11/15/2042
a
1,166,733
IBM
International
Capital,
Private
Ltd.
750,000
5.300%,
2/5/2054
625,260
Intel
Corporation
1,600,000
6.125%,
5/15/2056
1,501,220
2,871,000
4.900%,
7/29/2045
2,339,615
International
Business
Machines
Corporation
2,816,000
5.800%,
2/3/2056
2,530,292
2,792,000
4.600%,
2/3/2033
2,676,538
Jabil,
Inc.
500,000
5.450%,
2/1/2029
505,011
KLA
Corporation
2,811,000
3.300%,
3/1/2050
1,834,174
Marvell
Technology,
Inc.
500,000
2.950%,
4/15/2031
453,359
460,000
5.950%,
9/15/2033
470,314
3,050,000
5.300%,
4/15/2036
2,939,725
Mastercard,
Inc.
500,000
4.875%,
5/9/2034
492,913
1,050,000
3.950%,
2/26/2048
792,614
Mobility
Global,
Inc.
2,800,000
5.450%,
6/15/2031
a
2,800,240
Moody's
Corporation
500,000
4.250%,
8/8/2032
479,920
NVIDIA
Corporation
1,175,000
5.625%,
6/15/2056
1,063,246
3,050,000
4.750%,
6/15/2033
2,957,104
NXP
BV/NXP
Funding,
LLC
1,405,000
5.550%,
12/1/2028
1,425,120
NXP
BV/NXP
Funding,
LLC/NXP
USA,
Inc.
1,880,000
4.300%,
6/18/2029
1,849,363
1,870,000
3.250%,
5/11/2041
1,349,933
Oracle
Corporation
1,367,000
6.700%,
2/4/2056
b
1,205,367
1,000,000
5.375%,
9/27/2054
729,134
3,621,000
6.900%,
11/9/2052
3,266,296
550,000
6.150%,
11/9/2029
556,390
1,979,000
5.250%,
2/3/2032
1,892,913
2,110,000
4.800%,
9/26/2032
1,942,042
902,000
4.700%,
9/27/2034
791,234
3,650,000
5.700%,
2/4/2036
3,379,053
4,408,000
5.875%,
9/26/2045
3,616,895
Paychex,
Inc.
921,000
5.600%,
4/15/2035
b
915,279
Roper
Technologies,
Inc.
2,320,000
1.750%,
2/15/2031
2,003,627
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Technology
10.2%
-
continued
S&P
Global,
Inc.
$
883,000
4.800%,
12/4/2035
a
$
842,956
Salesforce,
Inc.
3,722,000
5.550%,
3/15/2036
3,629,435
Sony
Group
Corporation
3,750,000
5.089%,
6/30/2036
3,660,295
Synopsys,
Inc.
2,333,000
5.700%,
4/1/2055
2,139,476
Texas
Instruments,
Inc.
500,000
5.150%,
2/8/2054
442,796
Verisk
Analytics,
Inc.
1,245,000
4.450%,
3/15/2031
1,209,088
1,392,000
5.250%,
3/15/2035
1,357,289
VMware,
LLC
1,500,000
4.700%,
5/15/2030
1,483,717
550,000
2.200%,
8/15/2031
478,210
Total
133,108,812
Transportation
2.1%
Burlington
Northern
Santa
Fe,
LLC
500,000
5.500%,
3/15/2055
462,576
1,000,000
5.550%,
3/15/2056
932,467
2,340,000
2.875%,
6/15/2052
1,381,977
390,000
5.750%,
5/1/2040
395,939
1,861,000
4.450%,
3/15/2043
1,588,766
Canadian
Pacific
Railway
Company
1,873,000
4.700%,
5/1/2048
1,575,246
Delta
Air
Lines,
Inc.
2,783,000
5.250%,
7/10/2030
b
2,798,594
Delta
Air
Lines,
Inc./SkyMiles
IP,
Ltd.
2,977,500
4.750%,
10/20/2028
a
2,972,386
ERAC
USA
Finance,
LLC
1,871,000
5.400%,
5/1/2053
a,b
1,713,454
FedEx
Freight
Holding
Company,
Inc.
2,797,000
4.950%,
3/15/2033
a
2,699,976
Norfolk
Southern
Corporation
750,000
4.450%,
3/1/2033
724,158
2,325,000
5.100%,
5/1/2035
2,287,068
Ryder
System,
Inc.
500,000
2.850%,
3/1/2027
494,949
1,851,000
4.850%,
6/15/2030
1,844,185
Union
Pacific
Corporation
3,746,000
2.973%,
9/16/2062
2,069,977
500,000
5.600%,
12/1/2054
b
472,902
United
Airlines,
Inc.
3,751,000
4.625%,
4/15/2029
a
3,686,056
Total
28,100,676
U.S.
Government
&
Agencies
0.9%
U.S.
Treasury
Bonds
12,950,000
4.500%,
11/15/2054
11,471,373
Total
11,471,373
Utilities
8.9%
AEP
Texas,
Inc.
1,379,000
5.850%,
10/15/2055
1,281,417
AES
Corporation
3,664,000
3.950%,
7/15/2030
a
3,489,551
Ameren
Corporation
250,000
1.750%,
3/15/2028
238,536
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Utilities
8.9%
-
continued
American
Electric
Power
Company,
Inc.
$
1,380,000
6.050%,
3/15/2056
d
$
1,356,169
500,000
2.300%,
3/1/2030
457,188
American
Water
Capital
Corporation
1,403,000
5.700%,
9/1/2055
1,326,877
Arizona
Public
Service
Company
500,000
5.550%,
8/1/2033
504,142
Atmos
Energy
Corporation
1,000,000
5.450%,
1/15/2056
917,742
889,000
5.000%,
12/15/2054
764,343
Berkshire
Hathaway
Energy
Company
3,088,000
4.500%,
2/1/2045
2,535,062
CenterPoint
Energy,
Inc.
565,000
6.400%,
8/15/2058
d
564,620
CHPE,
LLC
1,400,000
5.350%,
6/30/2036
a
1,363,816
Commonwealth
Edison
Company
2,800,000
3.700%,
3/1/2045
2,067,984
Consolidated
Edison
Company
of
New
York,
Inc.
1,377,000
4.500%,
12/1/2045
1,123,874
Constellation
Energy
Generation,
LLC
921,000
5.875%,
1/15/2066
850,387
750,000
5.750%,
3/15/2054
702,648
500,000
5.800%,
3/1/2033
513,456
926,000
6.125%,
1/15/2034
965,929
Consumers
Energy
Company
3,035,000
4.350%,
4/15/2049
2,408,057
Dominion
Energy,
Inc.
1,650,000
6.150%,
12/15/2056
d
1,632,350
550,000
3.375%,
4/1/2030
521,188
2,800,000
5.350%,
6/15/2036
2,723,748
DTE
Electric
Company
1,000,000
3.700%,
6/1/2046
731,857
DTE
Energy
Company
500,000
4.875%,
6/1/2028
501,331
Duke
Energy
Carolinas,
LLC
1,500,000
5.400%,
1/15/2054
1,358,433
2,290,000
3.700%,
12/1/2047
1,638,873
Duke
Energy
Corporation
750,000
5.800%,
6/15/2054
691,928
500,000
5.750%,
9/15/2033
513,125
2,759,000
5.450%,
6/15/2034
2,768,604
Duke
Energy
Indiana,
LLC
2,500,000
3.750%,
5/15/2046
1,831,947
Duke
Energy
Ohio,
Inc.
500,000
5.550%,
3/15/2054
458,298
Enel
Finance
International
NV
2,800,000
5.125%,
6/26/2029
a
2,819,419
Entergy
Corporation
50,000
1.900%,
6/15/2028
47,460
Entergy
Louisiana,
LLC
1,360,000
5.800%,
3/15/2055
1,290,184
Eversource
Energy
500,000
4.600%,
7/1/2027
500,496
Exelon
Corporation
2,000,000
5.600%,
3/15/2053
1,819,899
1,340,000
4.700%,
4/15/2050
1,072,389
500,000
4.050%,
4/15/2030
484,144
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Utilities
8.9%
-
continued
$
3,059,000
4.450%,
4/15/2046
$
2,427,114
Fells
Point
Funding
Trust
1,000,000
3.046%,
1/31/2027
a
993,006
FirstEnergy
Corporation
2,339,000
4.850%,
7/15/2047
1,950,126
Georgia
Power
Company
899,000
5.250%,
3/15/2034
897,012
Indiana
Michigan
Power
Company
1,187,000
5.600%,
3/15/2056
1,093,275
ITC
Holdings
Corporation
500,000
4.950%,
9/22/2027
a
501,740
1,860,000
5.300%,
7/1/2043
1,689,321
Jersey
Central
Power
&
Light
Company
2,600,000
2.750%,
3/1/2032
a
2,289,710
MidAmerican
Energy
Company
2,000,000
5.300%,
2/1/2055
1,777,134
2,123,000
5.850%,
9/15/2054
2,044,922
NextEra
Energy
Capital
Holdings,
Inc.
2,800,000
5.900%,
3/15/2055
2,617,023
1,900,000
6.200%,
10/1/2056
d
1,856,676
500,000
2.250%,
6/1/2030
453,520
1,378,000
5.300%,
3/15/2032
1,385,656
NiSource,
Inc.
1,000,000
5.850%,
4/1/2055
938,771
1,163,000
5.750%,
7/15/2056
b,d
1,145,474
950,000
5.300%,
5/18/2036
929,531
Northern
States
Power
Company/
MN
500,000
5.400%,
3/15/2054
454,844
NRG
Energy,
Inc.
2,800,000
4.955%,
4/30/2031
a
2,737,486
Oncor
Electric
Delivery
Company,
LLC
750,000
5.550%,
6/15/2054
b
690,034
Pacific
Gas
and
Electric
Company
500,000
6.750%,
1/15/2053
506,009
2,839,000
5.550%,
5/15/2029
2,881,125
1,639,000
4.550%,
7/1/2030
1,602,614
896,000
5.800%,
5/15/2034
902,851
PPL
Capital
Funding,
Inc.
2,795,000
5.250%,
9/1/2034
2,757,381
PPL
Electric
Utilities
Corporation
1,695,000
3.950%,
6/1/2047
1,278,137
Public
Service
Company
of
Colorado
2,311,000
4.500%,
6/1/2052
1,814,490
RWE
Finance
US,
LLC
600,000
5.875%,
9/18/2055
a
551,447
San
Diego
Gas
&
Electric
Company
500,000
5.550%,
4/15/2054
457,750
1,250,000
4.150%,
5/15/2048
947,146
Sempra
1,711,000
5.250%,
3/15/2036
1,651,005
Southern
California
Edison
Company
1,000,000
5.450%,
6/1/2031
1,010,064
715,000
5.450%,
3/1/2035
702,122
Southern
Company
2,250,000
5.113%,
8/1/2027
2,259,849
850,000
5.700%,
10/15/2032
874,694
3,767,000
4.850%,
3/15/2035
3,601,928
Principal
Amount
Long-Term
Fixed
Income 98.3%
Value
Utilities
8.9%
-
continued
$
500,000
3.750%,
9/15/2051
d
$
499,038
Southern
Company
Gas
Capital
Corporation
1,850,000
4.400%,
5/30/2047
1,467,816
Southwestern
Electric
Power
Company
1,773,000
3.900%,
4/1/2045
1,302,098
Southwestern
Public
Service
Company
1,175,000
5.875%,
8/15/2056
1,115,006
Union
Electric
Company
1,796,000
3.900%,
9/15/2042
1,417,677
Virginia
Electric
and
Power
Company
2,500,000
4.600%,
12/1/2048
2,034,029
Vistra
Operations
Company,
LLC
3,739,000
5.250%,
10/15/2035
a
3,564,164
2,800,000
5.550%,
4/30/2036
a
2,724,920
Xcel
Energy,
Inc.
2,138,000
4.600%,
6/1/2032
2,072,749
1,415,000
5.600%,
4/15/2035
1,415,211
Total
117,121,166
Total
Long-Term
Fixed
Income
(cost
$1,321,792,681)
1,287,157,345
Shares
Collateral
Held
for
Securities
Loaned
3.2%
Value
42,418,575
Thrivent
Cash
Management
Trust
42,418,575
Total
Collateral
Held
for
Securities
Loaned
(cost
$42,418,575)
42,418,575
Shares
or
Principal
Amount
Short-Term
Investments
0.4%
Value
State
Street
Institutional
U.S.
Government
Money
Market
Fund
5,259,286
3.619%
g
5,259,286
Total
Short-Term
Investments
(cost
$5,259,286)
5,259,286
Total
Investments
(cost
$1,369,470,542)
101.9%
$1,334,835,206
Other
Assets
and
Liabilities,
Net
(1.9%)
(25,329,821)
Total
Net
Assets
100.0%
$1,309,505,385
a
Denotes
securities
sold
under
Rule
144A
of
the
Securities
Act
of
1933,
which
exempts
them
from
registration.
These
securities
may
be
resold
to
other
dealers
in
the
program
or
to
other
qualified
institutional
buyers.
As
of
July
31,
2026,
the
value
of
these
investments
was
$208,912,452
or
16.0%
of
total
net
assets.
b
All
or
a
portion
of
the
security
is
on
loan.
c
Denotes
investments
purchased
on
a
when-issued
or
delayed-delivery
basis.
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
d
Denotes
variable
rate
securities.
The
rate
shown
is
as
of
July
31,
2026.
The
rates
of
certain
variable
rate
securities
are
based
on
a
published
reference
rate
and
spread;
these
may
vary
by
security
and
the
reference
rate
and
spread
are
indicated
in
their
description. The
rates
of
other
variable
rate
securities
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.
e
Defaulted
security. Interest
is
not
being
accrued.
f
Denotes
perpetual
securities.
Perpetual
securities
pay
an
indefinite
stream
of
income
and
have
no
contractual
maturity
date.
Date
shown,
if
applicable,
is
next
call
date.
g
The
interest
rate
shown
reflects
the
yield.
*
Denotes
restricted
securities.
Restricted
securities
are
investment
securities
which
cannot
be
offered
for
public
sale
without
first
being
registered
under
the
Securities
Act
of
1933.
The
value
of
all
restricted
securities
held
in
Investment
Grade
Corporate
Bond
Fund
as
of
July
31,
2026
was
$672,000
or
0.05%
of
total
net
assets.
The
following
table
indicates
the
acquisition
date
and
cost
of
restricted
securities
shown
in
the
schedule
as
of
July
31,
2026.
Security
Acquisition
Date
Cost
Credit
Suisse
Group
AG
3/5/2026
$
2,800,000
The
following
table
presents
the
total
amount
of
securities
loaned
with
continuous
maturity,
by
type,
offset
by
the
gross
payable
upon
return
of
collateral
for
securities
loaned
by
Investment
Grade
Corporate
Bond
Fund
as
of
July
31,
2026:
Securities
Lending
Transactions
Long-Term
Fixed
Income
$
39,635,951
Total
lending
$39,635,951
Gross
amount
payable
upon
return
of
collateral
for
securities
loaned
$42,418,575
Net
amounts
due
to
counterparty
$2,782,624
Definitions:
DAC
-
Designated
Activity
Company
plc
-
Public
Limited
Company
S&P
-
Standard
&
Poor's
Investment
Grade
Corporate
Bond
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Fair
Valuation
Measurements
The
following
table
is
a
summary
of
the
inputs
used,
as
of
July
31,
2026,
in
valuing
Investment
Grade
Corporate
Bond
Fund's
assets
carried
at
fair
value.
Investments
in
Securities
Total
Level
1
Level
2
Level
3
Long-Term
Fixed
Income
Basic
Materials
20,619,995
–
20,619,995
–
Capital
Goods
43,274,394
–
43,274,394
–
Communications
Services
107,297,948
–
107,297,948
–
Consumer
Cyclical
63,769,444
–
63,769,444
–
Consumer
Non-Cyclical
164,380,505
–
164,380,505
–
Energy
74,927,232
–
74,927,232
–
Financials
514,783,033
–
514,783,033
–
Foreign
Government
8,302,767
–
8,302,767
–
Technology
133,108,812
–
133,108,812
–
Transportation
28,100,676
–
28,100,676
–
U.S.
Government
&
Agencies
11,471,373
–
11,471,373
–
Utilities
117,121,166
–
117,121,166
–
Short-Term
Investments
5,259,286
5,259,286
–
–
Subtotal
Investments
in
Securities
$1,292,416,631
$5,259,286
$1,287,157,345
$–
Other
Investments *
Total
Collateral
Held
for
Securities
Loaned
42,418,575
Subtotal
Other
Investments
$42,418,575
Total
Investments
at
Value
$1,334,835,206
*
Certain
investments
are
measured
at
fair
value
using
a
net
asset
value
per
share
that
is
not
publicly
available
(practical
expedient). According
to
disclosure
requirements
of
Accounting
Standards
Codification
(ASC)
820,
Fair
Value
Measurement,
securities
valued
using
the
practical
expedient
are
not
classified
in
the
fair
value
hierarchy. The
fair
value
amounts
presented
in
the
table
above
are
intended
to
permit
reconciliation
of
the
fair
value
hierarchy
to
the
amounts
presented
in
the
Statement
of
Assets
and
Liabilities.
Investment
in
Affiliates
Affiliated
issuers,
as
defined
under
the
Investment
Company
Act
of
1940,
include
those
in
which
the
Fund's
holdings
of
an
issuer
represent
5%
or
more
of
the
outstanding
voting
securities
of
an
issuer,
any
affiliated
fund,
or
a
company
which
is
under
common
ownership
or
control
with
the
Fund.
A
summary
of
transactions
(in
thousands;
values
shown
as
zero
are
less
than
$500)
for
the
fiscal
year
to
date,
in
Investment
Grade
Corporate
Bond
Fund,
is
as
follows:
Fund
Value
3/4/2026
Gross
Purchases
Gross
Sales
Value
7/31/2026
Shares
Held
at
7/31/2026
%
of
Net
Assets
7/31/2026
Collateral
Held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$–
$112,307
$69,888
$42,419
42,419
3.2%
Total
Collateral
Held
for
Securities
Loaned
–
42,419
3.2
Total
Value
$–
$42,419
Fund
Net
Realized
Gain/(Loss)
Change
in
Unrealized
Appreciation/
(Depreciation)
Distributions
of
Realized
Capital
Gains
Income
Earned
3/4/2026
-
7/31/2026
Collateral
Held
for
Securities
Loaned
Cash
Management
Trust-
Collateral
Investment
$–
$–
$
–
$108
Total
Affiliated
Income
from
Securities
Loaned,
Net
$108
Total
$–
$–
$–
Short-Term
Reserve
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Basic
Materials
0.9%
a
Value
PPG
Industries,
Inc.
$
25,000,000
4.010% ,8/3/2026
$
24,991,893
Total
24,991,893
Principal
Amount
Capital
Goods
4.9%
a
Value
DCAT,
LLC
10,135,000
3.850% ,9/9/2026
10,092,508
25,000,000
3.860% ,9/10/2026
24,892,527
Eaton
Capital
Unlimited
11,000,000
3.980% ,8/3/2026
b
10,996,433
Howmet
Aerospace,
Inc.
25,000,000
3.890% ,8/4/2026
b
24,989,005
John
Deere
Financial,
Inc.
15,000,000
3.810% ,9/11/2026
b
14,933,325
20,000,000
3.860% ,9/15/2026
b
19,902,532
Republic
Services,
Inc.
20,000,000
3.900% ,8/3/2026
b
19,993,514
Salisbury
Receivables
Company
15,000,000
3.950%
(SOFRRATE
+
0.300%),12/9/2026
b,c
15,005,115
Total
140,804,959
Principal
Amount
Consumer
Cyclical
5.9%
a
Value
American
Honda
Finance
Corporation
25,000,000
3.940% ,8/19/2026
24,948,122
BMW
US
Capital,
LLC
3,137,000
4.430%
(SOFRINDX
+
0.800%),8/13/2026
b,c
3,137,377
2,200,000
4.650% ,8/13/2026
b
2,200,404
8,100,000
4.431%
(SOFRINDX
+
0.780%),3/19/2027
b,c
8,120,361
Marriott
International,
Inc./MD
15,000,000
3.900% ,8/13/2026
b
14,978,097
Mercedes-Benz
Finance
North
America,
LLC
3,630,000
5.200% ,8/3/2026
b
3,630,000
Toyota
Credit
Canada,
Inc.
15,000,000
4.110% ,1/26/2027
14,693,562
Toyota
Credit
de
Puerto
Rico
Corporation
25,000,000
3.790% ,8/3/2026
24,992,337
15,000,000
3.830% ,8/31/2026
14,952,204
15,000,000
3.970% ,10/5/2026
14,895,611
15,000,000
3.970% ,11/17/2026
14,823,284
Toyota
Motor
Credit
Corporation
16,653,000
4.397%
(SOFRRATE
+
0.770%),8/7/2026
c
16,654,055
Volkswagen
Group
of
America
Finance,
LLC
10,000,000
4.691%
(SOFRRATE
+
1.060%),8/14/2026
b,c
10,002,277
2,000,000
4.900% ,8/14/2026
b
2,000,248
Total
170,027,939
Principal
Amount
Consumer
Non-Cyclical
4.7%
a
Value
Boston
Scientific
Corporation
25,000,000
3.950% ,8/6/2026
b
24,983,697
Bunge,
Ltd.
Finance
Corporation
25,000,000
3.920% ,8/7/2026
b
24,980,797
Principal
Amount
Consumer
Non-Cyclical 4.7%
a
Value
Johnson
&
Johnson
$
21,000,000
3.680% ,8/20/2026
b
$
20,957,620
Mondelez
International,
Inc.
11,300,000
3.900% ,8/5/2026
b
11,293,870
25,000,000
3.850% ,8/6/2026
b
24,983,698
Sanofi
SA
15,000,000
3.840% ,9/9/2026
b
14,938,223
15,000,000
3.810% ,10/22/2026
b
14,870,532
Total
137,008,437
Principal
Amount
Energy
1.8%
a
Value
Devon
Energy
Corporation
12,050,000
3.920% ,8/6/2026
b
12,042,142
Total
Capital
SA
25,000,000
3.730% ,8/31/2026
b,d
24,919,457
TotalEnergies
Capital
USA,
LLC
15,000,000
3.830% ,8/26/2026
b
14,959,616
Total
51,921,215
Principal
Amount
Financials
59.3%
a
Value
Alexandria
Real
Estate
Equities,
Inc.
15,000,000
4.120% ,8/3/2026
b
14,995,144
Australia
&
New
Zealand
Banking
Group,
Ltd.
15,000,000
3.950%
(SOFRRATE
+
0.300%),9/24/2026
b,c
15,004,671
18,030,000
3.800% ,11/3/2026
b
17,848,328
15,000,000
3.840% ,11/24/2026
b
14,813,046
15,000,000
3.940% ,12/18/2026
b
14,770,555
5,980,000
4.472%
(SOFRRATE
+
0.810%),1/18/2027
b,c
5,994,690
20,000,000
4.090% ,2/23/2027
b
19,538,160
Bank
of
America
NA
15,000,000
4.000% ,12/8/2026
15,000,234
Bank
of
New
York
Mellon
15,000,000
3.950% ,2/26/2027
14,647,375
Bank
of
New
Zealand
15,000,000
3.840% ,10/27/2026
b
14,860,471
Barclays
Bank
plc
15,000,000
3.820% ,8/13/2026
b
14,979,957
15,000,000
3.920% ,9/25/2026
b
14,911,306
25,000,000
3.910% ,10/19/2026
b
24,784,132
Barton
Capital
SA
6,700,000
3.950% ,8/28/2026
b,d
6,680,343
Bay
Square
Funding,
LLC
15,000,000
3.850% ,9/8/2026
b
14,938,477
15,000,000
3.980% ,10/2/2026
b
14,900,092
Cabot
Trail
Funding,
LLC
25,000,000
3.870% ,10/5/2026
b
24,825,282
18,900,000
3.950% ,10/16/2026
b
18,745,011
Canadian
Imperial
Bank
of
Commerce
15,000,000
3.990% ,6/4/2027
b
15,004,353
Canadian
Imperial
Bank
of
Commerce/New
York,
NY
11,000,000
4.000%
(SOFRRATE
+
0.350%),2/9/2027
c
11,006,338
Chariot
Funding,
LLC
15,000,000
3.940%
(SOFRRATE
+
0.290%),12/4/2026
b,c
14,999,804
15,000,000
3.990%
(SOFRRATE
+
0.340%),1/7/2027
b,c
15,000,412
Short-Term
Reserve
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Financials 59.3%
a
Value
$
15,000,000
3.990%
(SOFRRATE
+
0.340%),1/22/2027
b,c
$
15,000,177
Citigroup
Global
Markets
Holdings,
Inc./United
States
15,000,000
3.860% ,10/1/2026
b
14,902,230
15,000,000
3.950% ,4/28/2027
b
14,529,690
Citigroup
Global
Markets,
Inc.
25,000,000
3.950%
(SOFRRATE
+
0.300%),8/28/2026
b,c
25,003,120
Commonwealth
Bank
of
Australia
15,000,000
3.800% ,11/12/2026
b
14,831,058
15,000,000
3.830% ,11/23/2026
b
14,812,806
11,050,000
4.103%
(SOFRRATE
+
0.460%),11/27/2026
b,c
11,057,735
4,500,000
3.920%
(SOFRRATE
+
0.270%),2/5/2027
b,c
4,500,155
15,000,000
3.950% ,4/22/2027
b
15,000,324
Cooperatieve
Rabobank
UA/NY
21,285,000
4.267%
(SOFRINDX
+
0.620%),8/28/2026
c
21,291,173
15,965,000
4.555%
(SOFRINDX
+
0.900%),10/5/2026
c
15,984,406
25,000,000
3.970%
(SOFRRATE
+
0.320%),11/25/2026
c
25,013,022
Credit
Agricole
Corporate
and
Investment
Bank/New
York
15,000,000
3.960% ,11/3/2026
15,002,320
ERP
Operating,
LP
20,000,000
3.970% ,8/3/2026
b
19,993,514
Essex
Portfolio,
LP
18,750,000
3.940% ,8/4/2026
b
18,741,774
Globe
Life,
Inc.
15,200,000
3.860% ,8/4/2026
b
15,193,613
Goldman
Sachs
Bank
USA/New
York,
NY
15,000,000
3.950% ,9/25/2026
15,003,079
Healthpeak
OP,
LLC
8,000,000
4.020% ,8/5/2026
b
7,995,630
J.P.
Morgan
Chase
&
Company
5,000,000
2.950% ,10/1/2026
4,991,073
J.P.
Morgan
Chase
Bank
NA
5,750,000
5.110% ,12/8/2026
5,764,573
JP
MORGAN
SECURITIES,
LLC
15,000,000
3.950% ,1/19/2027
b
14,716,392
JPMorgan
Chase
&
Company
10,620,000
1.470%
0,9/22/2027
c
10,577,053
JPMorgan
Chase
Bank
NA
6,000,000
4.648%
(SOFRRATE
+
1.000%),12/8/2026
c
6,011,760
Jupiter
Securitization
Company,
LLC
15,000,000
3.990%
(SOFRRATE
+
0.340%),1/26/2027
b,c
15,000,190
Lime
Funding,
LLC
21,446,000
3.860% ,8/20/2026
b
21,401,429
Macquarie
Bank,
Ltd.
15,000,000
3.780% ,9/4/2026
b
14,943,124
25,000,000
3.900% ,9/16/2026
b
24,872,708
25,000,000
3.930% ,10/28/2026
b
24,754,180
15,000,000
3.920%
(SOFRRATE
+
0.270%),11/24/2026
b,c
15,003,945
MetLife
Short
Term
Funding,
LLC
10,000,000
3.830% ,9/16/2026
b
9,950,633
20,000,000
3.850% ,9/17/2026
b
19,899,146
10,000,000
3.930% ,12/15/2026
b
9,848,767
Principal
Amount
Financials 59.3%
a
Value
$
14,000,000
4.000% ,1/5/2027
b
$
13,754,714
15,000,000
4.000% ,1/21/2027
b
14,711,741
Mizuho
Bank,
Ltd./New
York,
NY
15,000,000
3.910%
(SOFRRATE
+
0.260%),11/9/2026
c
15,003,813
Mizuho
Markets
Cayman,
LP
10,000,000
4.170%
(SOFRRATE
+
0.520%),10/9/2026
b,c
10,003,049
Morgan
Stanley
Bank
NA
3,500,000
5.882% ,10/30/2026
3,510,263
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
10,000
3.577% ,8/1/2026
10,000
MUFG
Bank,
Ltd./New
York,
NY
17,000,000
4.000%
(SOFRRATE
+
0.350%),9/10/2026
c
17,004,568
15,000,000
3.910% ,10/22/2026
14,867,975
15,000,000
3.920%
(SOFRRATE
+
0.270%),12/15/2026
c
15,001,012
15,000,000
4.070% ,1/19/2027
14,712,245
National
Australia
Bank,
Ltd.
25,000,000
3.990%
(SOFRRATE
+
0.340%),10/26/2026
b,c
25,012,760
New
York
Life
Global
Funding
19,400,000
4.227%
(SOFRRATE
+
0.580%),8/28/2026
b,c
19,405,044
4,867,000
4.038%
(SOFRRATE
+
0.410%),2/5/2027
b,c
4,870,539
Nordea
Bank
Abp
10,000,000
3.910%
(SOFRRATE
+
0.260%),8/4/2026
b,c
10,000,199
15,000,000
3.820% ,11/13/2026
b
14,833,878
Nordea
Bank
Abp/New
York
NY
10,000,000
3.950%
(SOFRRATE
+
0.300%),4/22/2027
c
10,000,823
Nordea
Bank
Abp/New
York,
NY
15,000,000
3.950%
(SOFRRATE
+
0.300%),10/2/2026
c
15,005,181
15,000,000
4.000%
(SOFRRATE
+
0.350%),1/8/2027
c
15,007,830
Old
Line
Funding,
LLC
15,000,000
3.830% ,9/3/2026
b
14,946,479
15,000,000
3.820% ,9/18/2026
b
14,922,308
7,500,000
3.890% ,9/28/2026
b,d
7,453,062
Omnicom
Capital,
Inc.
7,700,000
3.950% ,8/11/2026
b
7,690,732
7,625,000
3.970% ,8/17/2026
b
7,610,713
Pacific
Life
Global
Funding
II
1,425,000
5.500% ,8/28/2026
b
1,426,503
14,200,000
4.107%
(SOFRRATE
+
0.480%),2/4/2027
b,c
14,207,980
Pricoa
Global
Funding
I
16,205,000
1.200% ,9/1/2026
b
16,166,790
Pricoa
Short
Term
Funding,
LLC
15,000,000
3.950%
(SOFRRATE
+
0.300%),10/2/2026
b,c
15,004,088
Realty
Income
Corporation
25,000,000
3.870% ,8/10/2026
24,972,678
Royal
Bank
of
Canada
23,080,000
4.086%
(SOFRINDX
+
0.460%),8/3/2026
c
23,080,000
25,000,000
3.920%
(SOFRRATE
+
0.270%),8/10/2026
b,c
25,000,880
Short-Term
Reserve
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
Financials 59.3%
a
Value
$
25,000,000
4.000%
(SOFRRATE
+
0.350%),11/12/2026
b,c
$
25,012,508
22,170,000
4.612%
(SOFRINDX
+
0.950%),1/19/2027
c
22,234,958
4,677,000
4.373%
(SOFRINDX
+
0.710%),1/21/2027
c
4,687,134
3,250,000
4.510%
0,10/18/2027
c
3,250,749
Royal
Bank
of
Canada,
New
York
15,000,000
3.875% ,3/12/2027
b
14,622,684
Sheffield
Receivables
Corporation,
LLC
13,000,000
3.850% ,9/8/2026
b
12,946,540
Skandinaviska
Enskilda
Banken
AB
15,000,000
3.960%
(SOFRRATE
+
0.310%),9/23/2026
b,c
15,004,350
15,000,000
3.950% ,5/20/2027
b
14,489,442
Starbird
Funding
Corporation
15,000,000
3.930%
(SOFRRATE
+
0.280%),10/5/2026
b,c
15,003,215
State
Street
Institutional
U.S.
Government
Money
Market
Fund
6,434
3.619% ,8/1/2026
6,434
Sumitomo
Mitsui
Banking
Corp/
New
York
15,000,000
3.920%
(SOFRRATE
+
0.270%),12/7/2026
c
15,004,121
25,000,000
3.990%
(SOFRRATE
+
0.340%),3/24/2027
c
25,004,060
Sumitomo
Mitsui
Banking
Corporation/New
York
15,000,000
3.860%
(SOFRRATE
+
0.210%),9/8/2026
c
15,001,814
Sumitomo
Mitsui
Trust
NY
15,000,000
3.840% ,8/12/2026
b
14,981,781
Svenska
Handelsbanken
AB
15,000,000
3.960%
(SOFRRATE
+
0.310%),9/23/2026
b,c
15,004,625
17,000,000
3.990%
(SOFRRATE
+
0.340%),12/8/2026
c
17,009,887
15,000,000
3.830% ,2/5/2027
b
14,680,551
Swedbank
AB
13,000,000
3.960%
(SOFRRATE
+
0.310%),11/9/2026
b,c
13,006,585
Thunder
Bay
Funding,
LLC
25,000,000
3.900% ,9/24/2026
b,d
24,855,370
11,000,000
3.850% ,10/1/2026
b,d
10,928,150
25,000,000
3.990%
(SOFRRATE
+
0.340%),10/15/2026
b,c,d
25,001,802
Toronto-Dominion
Bank
15,000,000
3.990%
(SOFRRATE
+
0.340%),8/21/2026
b,c
15,002,016
Toronto-Dominion
Bank/NY
25,000,000
4.050%
(SOFRRATE
+
0.400%),12/31/2026
c
25,006,663
15,000,000
4.000%
(SOFRRATE
+
0.350%),7/29/2027
c
15,039,600
Victory
Receivables
Corporation
8,000,000
3.920% ,10/9/2026
b
7,940,578
Wells
Fargo
Bank
NA
15,000,000
4.000%
(SOFRRATE
+
0.350%),1/8/2027
c
15,008,424
25,000,000
3.920%
(SOFRRATE
+
0.270%),2/10/2027
c
25,000,028
17,000,000
4.310% ,5/14/2027
17,030,695
Principal
Amount
Financials 59.3%
a
Value
Westpac
Banking
Corporation
$
4,010,000
2.700% ,8/19/2026
$
4,008,443
15,000,000
3.950% ,9/18/2026
b
15,003,981
15,000,000
3.950% ,9/28/2026
b
15,004,833
5,250,000
3.920% ,1/25/2027
b
5,250,297
15,000,000
3.930% ,2/2/2027
b
15,000,905
Total
1,717,070,050
Principal
Amount
Technology
4.1%
a
Value
Cisco
Systems,
Inc.
15,000,000
3.770% ,10/5/2026
b
14,897,590
Fidelity
National
Information
Services,
Inc.
10,000,000
3.955% ,8/14/2026
b
9,984,661
Fiserv,
Inc.
15,000,000
3.960% ,8/11/2026
b
14,981,879
25,000,000
3.956% ,8/24/2026
b
24,933,460
ServiceNow,
Inc.
15,000,000
3.850% ,8/4/2026
b
14,993,757
15,000,000
3.880% ,11/2/2026
b
14,848,164
25,000,000
3.960% ,12/1/2026
b
24,664,568
Total
119,304,079
Principal
Amount
Transportation
1.0%
a
Value
Canadian
Pacific
Railway
Company
15,000,000
3.900% ,8/7/2026
b
14,988,567
ERAC
USA
Finance,
LLC
15,000,000
3.950% ,8/4/2026
b
14,993,409
Total
29,981,976
Principal
Amount
U.S.
Government
&
Agencies
10.1%
a
Value
Federal
Agricultural
Mortgage
Corporation
10,000,000
3.770%
(SOFRRATE
+
0.120%),5/12/2027
c
9,999,665
Federal
Farm
Credit
Bank
20,000,000
3.680%
(SOFRRATE
+
0.030%),12/8/2026
c
19,999,633
20,000,000
3.730%
(SOFRRATE
+
0.080%),12/22/2026
c
20,000,345
12,400,000
3.780%
(SOFRRATE
+
0.130%),4/23/2027
c
12,406,186
20,000,000
3.745%
(SOFRRATE
+
0.095%),4/29/2027
c
20,003,603
10,000,000
3.770%
(SOFRRATE
+
0.120%),5/28/2027
c
9,999,630
10,000,000
3.765%
(SOFRRATE
+
0.115%),7/30/2027
c
10,004,764
5,000,000
3.765%
(SOFRRATE
+
0.115%),8/27/2027
c
5,002,287
Federal
Home
Loan
Bank
5,000,000
3.710%
(SOFRRATE
+
0.060%),1/29/2027
c
4,999,833
20,000,000
3.745%
(SOFRRATE
+
0.095%),2/25/2027
c
20,004,622
15,000,000
3.750%
(SOFRRATE
+
0.100%),3/18/2027
c
14,999,805
15,000,000
3.830%
(SOFRRATE
+
0.180%),10/14/2027
c
15,002,230
20,000,000
3.820%
(SOFRRATE
+
0.170%),11/5/2027
c
20,003,999
Short-Term
Reserve
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Principal
Amount
U.S.
Government
&
Agencies 10.1%
a
Value
$
10,000,000
3.780%
(SOFRRATE
+
0.130%),12/8/2027
c
$
10,001,207
Federal
Home
Loan
Mortgage
Corporation
15,000,000
3.775%
(SOFRRATE
+
0.125%),8/25/2027
c
15,007,231
20,000,000
3.780%
(SOFRRATE
+
0.130%),9/2/2027
c
20,010,028
7,500,000
3.790%
(SOFRRATE
+
0.140%),10/6/2027
c
7,505,977
Federal
National
Mortgage
Association
11,000,000
3.910%
(SOFRRATE
+
0.260%),11/5/2027
c
11,022,839
U.S.
International
Development
Finance
Corporation
7,264,957
3.763%
(T-BILL
3M
+
FLAT),8/7/2026
c
7,264,957
7,585,470
3.763%
(T-BILL
3M
+
FLAT),8/7/2026
c
7,585,470
4,691,700
3.940%
(T-BILL
3M
+
FLAT),8/7/2026
c
4,691,700
3,550,774
3.940%
(T-BILL
3M
+
FLAT),8/7/2026
c
3,550,774
U.S.
Treasury
Bills
25,000,000
3.856% ,11/24/2026
24,703,898
Total
293,770,683
Principal
Amount
Utilities
7.8%
a
Value
Duke
Energy
Corporation
20,000,000
3.870% ,8/5/2026
b
19,989,540
3,000,000
2.650% ,9/1/2026
2,996,382
NextEra
Energy
Capital
Holdings,
Inc.
25,000,000
3.950% ,8/19/2026
b
24,947,520
NiSource,
Inc.
11,825,000
3.980% ,8/13/2026
b
11,808,139
13,015,000
3.910% ,8/24/2026
b
12,980,513
Southern
Company
12,100,000
4.000% ,8/5/2026
b
12,093,436
16,000,000
3.950% ,8/7/2026
b
15,987,805
25,000,000
3.880% ,8/18/2026
b
24,950,342
WEC
Energy
Group,
Inc.
25,000,000
3.920% ,8/12/2026
b
24,967,135
15,000,000
4.000% ,8/24/2026
b
14,960,253
Xcel
Energy,
Inc.
15,000,000
4.010% ,8/3/2026
b
14,995,135
4,675,000
3.930% ,8/4/2026
b
4,672,975
25,000,000
4.020% ,8/7/2026
b
24,980,945
15,000,000
4.040% ,8/14/2026
b
14,976,937
Total
225,307,057
Total
Investments
(cost
$2,910,065,826)
100.5%
$2,910,188,288
Other
Assets
and
Liabilities,
Net
(0.5)%
(15,257,394)
Total
Net
Assets
100.0%
$2,894,930,894
a
The
interest
rate
shown
reflects
the
yield.
b
Denotes
securities
sold
under
Rule
144A
of
the
Securities
Act
of
1933,
which
exempts
them
from
registration.
These
securities
may
be
resold
to
other
dealers
in
the
program
or
to
other
qualified
institutional
buyers.
As
of
July
31,
2026,
the
value
of
these
investments
was
$1,895,723,316
or
65.5%
of
total
net
assets.
c
Denotes
variable
rate
securities.
The
rate
shown
is
as
of
July
31,
2026.
The
rates
of
certain
variable
rate
securities
are
based
on
a
published
reference
rate
and
spread;
these
may
vary
by
security
and
the
reference
rate
and
spread
are
indicated
in
their
description. The
rates
of
other
variable
rate
securities
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.
d
Denotes
investments
that
benefit
from
credit
enhancement
or
liquidity
support
provided
by
a
third
party
bank,
institution
or
government.
Definitions:
plc
-
Public
Limited
Company
Reference
Rate
Index:
SOFRINDX
-
Secured
Overnight
Financing
Rate
Compounded
Index
SOFRRATE
-
Secured
Overnight
Financing
Rate
T-BILL
3M
-
U.
S.
Treasury
Bill
Rate
3
Month
Short-Term
Reserve
Fund
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
The
accompanying
Notes
to
Schedule
of
Investments
are
an
integral
part
of
this
schedule.
Fair
Valuation
Measurements
The
following
table
is
a
summary
of
the
inputs
used,
as
of
July
31,
2026,
in
valuing
Short-Term
Reserve
Fund's
assets
carried
at
fair
value.
Investments
in
Securities
Total
Level
1
Level
2
Level
3
Basic
Materials
24,991,893
–
24,991,893
–
Capital
Goods
140,804,959
–
140,804,959
–
Consumer
Cyclical
170,027,939
–
170,027,939
–
Consumer
Non-Cyclical
137,008,437
–
137,008,437
–
Energy
51,921,215
–
51,921,215
–
Financials
1,717,070,050
16,434
1,717,053,616
–
Technology
119,304,079
–
119,304,079
–
Transportation
29,981,976
–
29,981,976
–
U.S.
Government
&
Agencies
293,770,683
–
293,770,683
–
Utilities
225,307,057
–
225,307,057
–
Total
Investments
at
Value
$2,910,188,288
$16,434
$2,910,171,854
$–
Notes
to
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
SIGNIFICANT
ACCOUNTING
POLICIES
Valuation
of
Investments
— The
Funds
record
their
investments
at
fair
value
using
market
quotations
when
they
are
readily
available
pursuant
to
Rule
2a-5.
The
Funds'
investments
are
recorded
at
fair
value
when
market
quotations
are
not
readily
available.
Securities
traded
on
U.S.
or
foreign
securities
exchanges
or
included
in
a
national
market
system,
which
includes
exchange-
traded
funds, are
valued
at
the
last
sale
price
on
the
principal
exchange
as
of
the
close
or
regular
trading
on
such
exchange
or
the
official
closing
price
of
the
national
market
system.
Over-the-
counter
securities
and
listed
securities
for
which
no
price
is
readily
available
are
valued
at
the
current
bid
price
considered
best
to
represent
the
value
at
that
time.
Security
prices
are
based
on
quotes
that
are
obtained
from
an
independent
pricing
service
approved
by
the
Trust’s
Board
of
Trustees
(the
“Board”).
The
pricing
service,
in
determining
values
of
fixed-income
securities,
takes
into
consideration
such
factors
as
current
quotations
by
broker/dealers,
coupon,
maturity,
quality,
type
of
issue,
trading
characteristics,
and
other
yield
and
risk
factors
it
deems
relevant
in
determining
valuations.
Securities
which
cannot
be
valued
by
the
approved
pricing
service
are
valued
using
valuations
obtained
from
dealers
that
make
markets
in
the
securities.
Exchange-listed
options
and
future
contracts
are
valued
at
the
primary
exchange
settle
price.
Exchange
cleared
swap
agreements
are
valued
at
the
clearinghouse
end
of
day
price.
Swap
agreements
not
cleared
on
exchanges
will
be
valued
at
the
mid-price
from
the
primary
approved
pricing
service.
Forward
foreign
currency
exchange
contracts
are
marked-to-market
based
upon
foreign
currency
exchange
rates
provided
by
the
pricing
service. Investments
in
open-ended
mutual
funds
are
valued
at
the
net
asset
value
at
the
close
of
each
business
day
or
fair
valued
pursuant
to
our
valuation
procedures if
net
asset
value
at
the
close
of
business
day
is
not
readily
available .
The
Board
has
chosen
the
Funds'
investment
adviser,
Thrivent
Asset
Management,
LLC
(the
"Adviser")
as
the
valuation
designee,
responsible
for
daily
valuation
of
the
Funds'
securities.
The
Adviser
has
formed
a
Valuation
Committee
(the
“Committee”)
that
is
responsible
for
overseeing
the
Funds'
valuation
policies
in
accordance
with
Valuation
Policies
and
Procedures.
The
Committee
meets
on
a
monthly
and
on
an
as-needed
basis
to
review
price
challenges,
price
overrides,
stale
prices,
shadow
prices,
manual
prices,
money
market
pricing,
international
fair
valuation,
and
other
securities
requiring
fair
valuation.
The
Committee
monitors
for
significant
events
occurring
prior
to
the
close
of
trading
on
the
New
York
Stock
Exchange
that
could
have
a
material
impact
on
the
value
of
any
securities
that
are
held
by
the
Funds.
Examples
of
such
events
include
trading
halts,
national
news/events,
and
issuer-specific
developments.
If
the
Committee
decides
that
such
events
warrant
using
fair
value
estimates,
the
Committee
will
take
such
events
into
consideration
in
determining
the
fair
value
of
such
securities.
If
market
quotations
or
prices
are
not
readily
available
or
determined
to
be
unreliable,
the
securities
will
be
valued
at
fair
value
using
an
appropriate
methodology as
determined
in
good
faith
pursuant
to
procedures
adopted
by
the
Board.
In
accordance
with
U.S.
Generally
Accepted
Accounting
Principles
("GAAP"),
the
various
inputs
used
to
determine
the
fair
value
of
the
Funds'
investments
are
summarized
in
three
broad
levels. Level
1
includes
quoted
prices
in
active
markets
for
identical
securities;
typically
included
in
this
level
are
U.S.
equity
securities,
futures,
options
and
registered
investment
company
funds. Level
2
includes
other
significant
observable
inputs
such
as
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds
and
credit
risk;
typically
included
in
this
level
are
fixed
income
securities,
international
securities,
swaps
and
forward
contracts. Level
3
includes
significant
unobservable
inputs
such
as
the
Adviser’s
own
assumptions
and
broker
evaluations
in
determining
the
fair
value
of
investments. The
valuation
levels
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
these
securities
or
other
investments.
Investments
measured
using
net
asset
value
per
share
as
a
practical
expedient
for
fair
value
and
that
are
not
publicly
available-for-sale
are
not
categorized
within
the
fair
value
hierarchy.
Valuation
of
International
Securities
—
The
Funds
value
certain
foreign
securities
traded
on
foreign
exchanges
that
close
prior
to
the
close of
the
New
York
Stock
Exchange
using
a
fair
value
pricing
service.
The
fair
value
pricing
service
uses
a
multi-factor
model
that
may
take
into
account
the
local
close,
relevant
general
and
sector
indices,
currency
fluctuation,
prices
of
other
securities
(including
ADRs,
New
York
registered
shares,
and
ETFs),
and
futures,
as
applicable,
to
determine
price
adjustments
for
each
security
in
order
to
reflect
the
effects
of
post-closing
events.
The
Board
has
authorized
the
Adviser
to
make
fair
valuation
determinations
pursuant
to
policies
approved
by
the
Board.
Derivatives
— Certain
Funds
may
invest
in
derivatives,
a
category
that
includes
options,
futures,
swaps,
foreign
currency
forward
contracts
and
hybrid
instruments.
Derivatives
are
financial
instruments
whose
value
is
derived
from
another
security,
an
index
or
a
currency.
Each applicable
Fund
may
use
derivatives
for
hedging
(attempting
to
offset
a
potential
loss
in
one
position
by
establishing
an
interest
in
an
opposite
position).
This
includes
the
use
of
currency-based
derivatives to
manage
the
risk
of its
positions
in
foreign
securities.
Each applicable
Fund
may
also
use
derivatives
for
replication
of
a
certain
asset
class
or
speculation
(investing
for
potential
income
or
capital
gain).
These
contracts
may
be
transacted
on
an
exchange
or
over-the-counter
("OTC").
A
derivative
may
incur
a loss
if
the
value
of
the
derivative
decreases
due
to
an
unfavorable
change
in
the
market
rates
or
values
of
the
underlying
derivative.
Losses
can
also
occur
if
the
counterparty
does
not
perform
under
the
derivative
contract.
A
Fund’s
risk
of
loss
from
the
counterparty
credit
risk
on
OTC
derivatives
is
generally
limited
to
the
aggregate
unrealized
gain
netted
against
any
collateral
held
by
such
Fund.
With
exchange
traded
futures
and
centrally
cleared
swaps,
there
is
minimal
counterparty
credit
risk
to
the
Funds
because
the
exchange’s
clearinghouse,
as
counterparty
to
such
derivatives,
guarantees
Notes
to
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
against
a
possible
default.
The
clearinghouse
stands
between
the
buyer
and
the
seller
of
the
derivative;
thus,
the
credit
risk
is
limited
to
the
failure
of
the
clearinghouse.
However,
credit
risk
still
exists
in
exchange
traded
futures
and
centrally
cleared
swaps
with
respect
to
initial
and
variation
margin
that
is
held
in
a
broker’s
customer
accounts.
While
brokers
are
required
to
segregate
customer
margin
from
their
own
assets,
in
the
event
that
a
broker
becomes
insolvent
or
goes
into
bankruptcy
and
at
that
time
there
is
a
shortfall
in
the
aggregate
amount
of
margin
held
by
the
broker
for
all
its
clients,
U.S.
bankruptcy
laws
will
typically
allocate
that
shortfall
on
a
pro-rata
basis
across
all
the
broker’s
customers,
potentially
resulting
in
losses to
the
Funds.
Using
derivatives
to
hedge
can
guard
against
potential
risks,
but
it
also
adds
to
the
Funds'
expenses
and
can
eliminate
some
opportunities
for
gains.
In
addition,
a
derivative
used
for mitigating
exposure or
replication
may
not
accurately
track
the
value
of
the
underlying
asset.
Another
risk
with
derivatives
is
that
some
types
can
amplify
a
gain
or
loss,
potentially
earning
or
losing
substantially
more
money
than
the
actual
cost
of
the
derivative.
In
order
to
define
their
contractual
rights
and
to
secure
rights
that
will
help
the
Funds
mitigate
their
counterparty
risk,
the
Funds
may
enter
into
an
International
Swaps
and
Derivatives
Association,
Inc.
Master
Agreement
(“ISDA
Master
Agreement”)
or
similar
agreement
with
its
derivative
contract
counterparties.
An
ISDA
Master
Agreement
is
a
bilateral
agreement
between
a
Fund
and
a
counterparty
that
governs
OTC
derivatives
and
foreign
exchange
contracts
and
typically
includes,
among
other
things,
collateral
posting
terms
and
netting
provisions
in
the
event
of
a
default
and/or
termination
event.
Under
an
ISDA
Master
Agreement,
each
Fund
may,
under
certain
circumstances,
offset
with
the
counterparty
certain
derivatives'
payables
and/or
receivables
with
collateral
held
and/or
posted
and
create
one
single
net
payment.
The
provisions
of
the
ISDA
Master
Agreement
typically
permit
a
single
net
payment
in
the
event
of
a
default
(close-out
netting)
including
the
bankruptcy
or
insolvency
of
the
counterparty.
Note,
however,
that
bankruptcy
and
insolvency
laws
of
a
particular
jurisdiction
may
impose
restrictions
on
or
prohibitions
against
the
right
of
offset
in
bankruptcy,
insolvency
or
other
events.
Collateral
and
margin
requirements
vary
by
type
of
derivative.
Margin
requirements
are
established
by
the
broker
or
clearinghouse
for
exchange
traded
and
centrally
cleared
derivatives
(futures,
options,
and
centrally
cleared
swaps).
Brokers
can
ask
for
margining
in
excess
of
the
minimum
requirements in
certain
situations.
Collateral
terms
are
contract
specific
for
OTC
derivatives
(foreign
currency
exchange
contracts,
options,
swaps).
For
derivatives
traded
under
an
ISDA
Master
Agreement,
the
collateral
requirements
are
typically
calculated
by
netting
the
mark
to
market
amount
for
each
transaction
under
such
agreement
and
comparing
that
amount
to
the
value
of
any
collateral
currently
pledged
by
the
Fund
and
the
counterparty.
For
financial
reporting
purposes,
non-cash
collateral
that
has
been
pledged
to
cover
obligations
of
the
Fund
has
been
noted
in
the
Schedule
of
Investments.
To
the
extent
amounts
due
to
the
Fund
from
its
counterparties
are
not
fully
collateralized,
contractually
or
otherwise,
the
Fund
bears
the
risk
of
loss
from
counterparty
nonperformance.
The
Funds
attempt
to
mitigate
counterparty
risk
by
only
entering
into
agreements
with
counterparties
that
they
believe
have
the
financial
resources
to
honor
their
obligations
and
by
monitoring
the
financial
stability
of
those
counterparties.
For
any
Fund
that
invested
in
the
following
derivative
type,
more
detailed
information
can
be
found
in
the
Schedule
of
Investments.
Futures
Contracts
— Certain
Funds may
use
futures
contracts
to
manage
the
exposure
to
interest
rate
and
market
or
currency
fluctuations.
Gains
or
losses
on
futures
contracts
can
offset
changes
in
the
yield
of
securities.
When
a
futures
contract
is
opened,
cash
or
other
investments
equal
to
the
required
“initial
margin
deposit”
are
held
on
deposit
with
and
pledged
to
the
broker.
Additional
securities
held
by
the
Funds
may
be
earmarked
to
cover
open
futures
contracts.
The
futures
contract’s
daily
change
in
value
(“variation
margin”)
is
either
paid
to
or
received
from
the
broker,
and
is
recorded
as
an
unrealized
gain
or
loss.
When
the
contract
is
closed,
realized
gain
or
loss
is
recorded
equal
to
the
difference
between
the
value
of
the
contract
when
opened
and
the
value
of
the
contract
when
closed.
Futures
contracts
involve,
to
varying
degrees,
risk
of
loss
in
excess
of
the
variation
margin
disclosed
in
the
Statement
of
Assets
and
Liabilities.
Exchange-traded
futures
have
no
significant
counterparty
risk
as
the
exchange
guarantees
the
contracts
against
default.
For
financial
reporting
purposes,
the
Funds
do
not
offset
derivative
assets
and
derivative
liabilities
that
are
subject
to
netting
arrangements
in
the
Statement
of
Assets
and
Liabilities.
Securities
Lending
—
The
Trust
has
entered
into
a
Securities
Lending
Agreement
(the
“Agreement”)
with
Goldman
Sachs
Bank
USA,
doing
business
as
Goldman
Sachs Agency
Lending ("GSAL").
The
Agreement
authorizes
GSAL
to
lend
securities
to
authorized
borrowers
on
behalf
of
the
Funds.
Pursuant
to
the
Agreement, loaned
securities
are
typically
initially
collateralized equal
to
at
least
102%
of
the
market
value
of
U.S.
securities
and
105% of
the
market
value
of non-U.S.
securities.
Daily
market
fluctuations
could
cause
the
value
of
loaned
securities
to
be
more
or
less
than
the
value
of
the
collateral
received.
Any
additional
collateral
is
adjusted
and
settled
on
the
next
business
day.
The
Trust
has
the
ability
to
recall
the
loans
at
any
time
and
could
do
so
in
order
to
vote
proxies
or
sell
the
loaned
securities.
All
cash
collateral
received
is
invested
in
Thrivent
Cash
Management
Trust.
The
Funds
receive dividends
and
interest
that would
have
been
earned
on
the
securities
loaned
while
simultaneously
seeking
to
earn
income
on
the
investment
of
cash
collateral.
Amounts
earned
on
investments
in
Thrivent
Cash
Management
Trust,
net
of
rebates,
fees
paid
to
GSAL
for
services
provided
and
any
other
securities
lending
expenses,
are
included
in
affiliated income
from
securities
loaned,
net on
the
Statement
of
Operations.
By
investing
any
cash
collateral
it
receives
in
these
transactions,
a
Fund
could
realize
additional
gains
or
losses.
If
the
borrower
fails
to
return
the
securities
or
the
invested
collateral
has
declined
in
value, a
Fund
could
lose
money.
Generally,
in
the
event
of
borrower
default, a Fund
has
the
right
to
use
the
collateral
Notes
to
Schedule
of
Investments
as
of
July
31,
2026
(unaudited)
to
offset
any
losses
incurred.
However,
in
the
event a
Fund
is
delayed
or
prevented
from
exercising
its
right
to
dispose
of
the
collateral,
there
may
be
a
potential
loss.
Some
of
these
losses
may
be
indemnified
by
the
lending
agent.
Bank Loans
(Leveraged Loans)
—
Certain
Funds
may
invest
in
bank
loans,
which
are
senior
secured
loans
that
are
made
by
banks
or
other
lending
institutions
to
companies
that
are
typically
rated
below
investment
grade.
A Fund
may
invest
in
multiple
series
or
tranches
of
a
bank
loan,
with
varying
terms
and
different
associated
risks.
Transactions
in
bank
loan
securities
may
settle
on
a
delayed
basis,
which
may
result
in
the
proceeds
of
the
sale
to
not
be
readily
available
for
a Fund
to
make
additional
investments.
Interest
rates
of
bank
loan
securities
typically
reset
periodically,
as
the
rates
are
tied
to
a
reference
index
rate,
plus
a
premium.
Income
is
recorded
daily
on
bank
loan
securities.
On
an
ongoing
basis,
a Fund
may
receive
a
commitment
fee
based
on
the
undrawn
portion
of
the
underlying
line
of
credit
of
the
bank
loan.
This
commitment
fee
is
accrued
as
income
over
the
term
of
the
bank
loan.
A Fund
may
receive
consent
and
amendment
fees
for
accepting
an
amendment
to
the
current
terms
of
a
bank
loan.
Consent
and
amendment
fees
are
accrued
as
income
when
the
changes
to
the
bank
loan
are
immaterial
and
to
capital
when
the
changes
are
material.
All
or
a
portion
of
these
bank
loan
commitments
may
be
unfunded.
A
Fund
is
obligated
to
fund
these
commitments
at
the
borrower’s
discretion.
Therefore,
the
Fund
must
have
funds
sufficient
to
cover
its
contractual
obligation.
These
unfunded
bank
loan
commitments,
which
are
marked-to-market
daily,
are
presented
in
the
Schedule
of
Investments
and
included
in
Payable
for
investments
purchased
on
a
delayed-delivery
basis
on
the
Statement
of
Assets
and
Liabilities.
As
of
July
31,
2026,
the
Funds
have
the
following
unfunded
bank
loan
commitments:
Additional
information
for
the
Funds’
policy
regarding
valuation
of
investments
and
other
significant
accounting
policies
can
be
obtained
by
referring
to
the
Funds’
most
recent
annual
or
semiannual
shareholder
report.
Fund/Borrower
Unfunded
Loan
Commitments
Thrivent
Core
High
Yield
Bond
Fund
Caesars
Entertainment,
Inc.,
Term
Loan
$409,821
Cengage
Learning,
Inc.,
Term
Loan
$1,992,500
Evergreen
AcqCo
1,
LP,
Term
Loan
$1,499,925
Playtika
Holding
Corporation,
Term
Loan
$983,750
Syneos
Health
US
Inc.,
Term
Loan
$1,507,500
Total
$6,393,496