Schedule
of
Investments
Blue
Chip
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
1
INVESTMENT
COMPANIES
-
0
.40
%
Shares
Held
Value
(000's)
Money
Market
Funds
-
0
.40
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
977,978‌
$
978‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(b),(c)
32,738,201‌
32,738‌
$
33,716‌
TOTAL
INVESTMENT
COMPANIES
$
33,716‌
COMMON
STOCKS
-
99
.97
%
Shares
Held
Value
(000's)
Aerospace
&
Defense
-
8
.12
%
General
Electric
Co
335,628‌
$
108,663‌
HEICO
Corp
-
Class
A
624,385‌
162,222‌
TransDigm
Group
Inc
331,872‌
417,601‌
$
688,486‌
Building
Materials
-
0
.33
%
Vulcan
Materials
Co
99,853‌
28,250‌
Chemicals
-
0
.42
%
Linde
PLC
70,637‌
35,155‌
Commercial
Services
-
1
.89
%
Moody's
Corp
219,012‌
99,267‌
S&P
Global
Inc
143,952‌
61,036‌
$
160,303‌
Diversified
Financial
Services
-
10
.63
%
Brookfield
Asset
Management
Ltd
(d)
190,697‌
9,268‌
Brookfield
Wealth
Solutions
Ltd
(d),(e)
79,935‌
3,644‌
Charles
Schwab
Corp/The
616,460‌
53,848‌
Mastercard
Inc
846,737‌
418,271‌
Visa
Inc
1,273,619‌
415,658‌
$
900,689‌
Electronics
-
1
.41
%
Amphenol
Corp
802,074‌
119,316‌
Entertainment
-
0
.45
%
Live
Nation
Entertainment
Inc
(e)
226,277‌
38,107‌
Healthcare
-
Products
-
3
.93
%
Danaher
Corp
1,429,349‌
261,099‌
IDEXX
Laboratories
Inc
(e)
51,972‌
29,288‌
Intuitive
Surgical
Inc
(e)
100,754‌
42,784‌
$
333,171‌
Insurance
-
0
.65
%
Arthur
J
Gallagher
&
Co
272,403‌
54,783‌
Internet
-
28
.28
%
Airbnb
Inc
(e)
265,375‌
35,377‌
Alphabet
Inc
-
A
Shares
678,587‌
258,094‌
Alphabet
Inc
-
C
Shares
1,066,420‌
401,432‌
Amazon.com
Inc
(e)
3,704,541‌
1,002,597‌
Meta
Platforms
Inc
607,821‌
384,453‌
Netflix
Inc
(e)
2,754,828‌
236,970‌
Uber
Technologies
Inc
(e)
1,113,601‌
78,398‌
$
2,397,321‌
Lodging
-
0
.70
%
Hilton
Worldwide
Holdings
Inc
181,203‌
59,373‌
Private
Equity
-
9
.59
%
Brookfield
Corp
13,359,827‌
609,074‌
KKR
&
Co
Inc
2,123,689‌
203,747‌
$
812,821‌
Retail
-
0
.90
%
Costco
Wholesale
Corp
39,950‌
38,205‌
O'Reilly
Automotive
Inc
(e)
442,261‌
38,424‌
$
76,629‌
Semiconductors
-
15
.10
%
Broadcom
Inc
939,983‌
419,956‌
NVIDIA
Corp
4,073,865‌
860,156‌
$
1,280,112‌
Software
-
17
.57
%
Cadence
Design
Systems
Inc
(e)
668,761‌
250,739‌
Constellation
Software
Inc/Canada
35,979‌
73,685‌
Microsoft
Corp
2,405,521‌
1,083,062‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Software
(continued)
Veeva
Systems
Inc
(e)
471,753‌
$
82,245‌
$
1,489,731‌
TOTAL
COMMON
STOCKS
$
8,474,247‌
Total
Investments
$
8,507,963‌
Other
Assets
and
Liabilities
-  (0.37)%
(
30,949‌
)
TOTAL
NET
ASSETS
-
100.00%
$
8,477,014‌
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$10,728
or
0.13%
of
net
assets.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(d)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$10,424
or
0.12%
of
net
assets.
(e)
Non-income
producing
security
Schedule
of
Investments
Blue
Chip
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
2
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
5‌
$
615,970‌
$
583,237‌
$
32,738‌
$
5‌
$
615,970‌
$
583,237‌
$
32,738‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
122‌
$
—‌
$
—‌
$
—‌
$
122‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
3
INVESTMENT
COMPANIES
-
3
.26
%
Shares
Held
Value
(000's)
Exchange-Traded
Funds
-
0
.78
%
iShares
iBoxx
USD
Investment
Grade
Corporate
Bond
ETF
(a)
160,000‌
$
17,498‌
Vanguard
Short-Term
Corporate
Bond
ETF
70,000‌
5,543‌
$
23,041‌
Money
Market
Funds
-
2
.48
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(b),(c)
2,486,685‌
2,487‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(b),(c),(d)
70,965,469‌
70,965‌
$
73,452‌
TOTAL
INVESTMENT
COMPANIES
$
96,493‌
BONDS
-
26
.81
%
Principal
Amount
(000's)
Value
(000's)
Advertising
-
0
.01
%
Omnicom
Group
Inc
2.40%,
03/01/2031
$
60‌
$
54‌
2.45%,
04/30/2030
155‌
143‌
2.60%,
08/01/2031
35‌
31‌
$
228‌
Aerospace
&
Defense
-
0
.48
%
Boeing
Co/The
2.95%,
02/01/2030
140‌
132‌
3.25%,
02/01/2028
685‌
672‌
3.50%,
03/01/2039
200‌
163‌
3.63%,
02/01/2031
275‌
262‌
3.95%,
08/01/2059
290‌
208‌
5.15%,
05/01/2030
475‌
483‌
5.71%,
05/01/2040
245‌
250‌
5.81%,
05/01/2050
480‌
475‌
5.88%,
02/15/2040
100‌
103‌
5.93%,
05/01/2060
325‌
322‌
6.30%,
05/01/2029
255‌
267‌
6.53%,
05/01/2034
310‌
338‌
6.86%,
05/01/2054
300‌
338‌
General
Dynamics
Corp
2.25%,
06/01/2031
280‌
252‌
4.25%,
04/01/2040
155‌
139‌
4.95%,
08/15/2035
115‌
116‌
General
Electric
Co
4.90%,
01/29/2036
305‌
305‌
Honeywell
Aerospace
Inc
4.00%,
03/16/2029
(e)
295‌
292‌
4.30%,
03/16/2031
(e)
295‌
291‌
4.95%,
03/16/2036
(e)
250‌
247‌
5.62%,
03/16/2046
(e)
135‌
135‌
5.73%,
03/16/2056
(e)
235‌
235‌
L3Harris
Technologies
Inc
4.40%,
06/15/2028
200‌
200‌
5.05%,
06/01/2029
125‌
127‌
5.40%,
07/31/2033
360‌
370‌
5.50%,
08/15/2054
290‌
281‌
5.60%,
07/31/2053
155‌
152‌
Lockheed
Martin
Corp
3.90%,
06/15/2032
75‌
73‌
4.07%,
12/15/2042
105‌
89‌
4.09%,
09/15/2052
162‌
127‌
4.15%,
08/15/2028
155‌
155‌
4.15%,
06/15/2053
310‌
246‌
4.50%,
02/15/2029
135‌
135‌
4.70%,
12/15/2031
340‌
343‌
4.70%,
05/15/2046
75‌
67‌
4.75%,
02/15/2034
160‌
160‌
5.00%,
08/15/2035
155‌
156‌
5.10%,
11/15/2027
155‌
157‌
5.20%,
02/15/2055
(a)
190‌
178‌
5.20%,
02/15/2064
235‌
216‌
5.25%,
01/15/2033
155‌
161‌
5.70%,
11/15/2054
155‌
156‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Aerospace
&
Defense
(continued)
Northrop
Grumman
Corp
4.65%,
07/15/2030
$
155‌
$
156‌
4.70%,
03/15/2033
160‌
159‌
4.90%,
06/01/2034
305‌
304‌
4.95%,
03/15/2053
120‌
107‌
5.25%,
05/01/2050
600‌
563‌
RTX
Corp
1.90%,
09/01/2031
155‌
135‌
2.25%,
07/01/2030
400‌
366‌
2.38%,
03/15/2032
60‌
53‌
2.82%,
09/01/2051
150‌
93‌
3.03%,
03/15/2052
60‌
39‌
4.05%,
05/04/2047
610‌
486‌
4.13%,
11/16/2028
395‌
392‌
4.70%,
12/15/2041
350‌
322‌
5.15%,
02/27/2033
410‌
418‌
5.38%,
02/27/2053
305‌
290‌
5.75%,
01/15/2029
145‌
150‌
6.10%,
03/15/2034
300‌
322‌
6.40%,
03/15/2054
245‌
268‌
$
14,197‌
Agriculture
-
0
.37
%
Altria
Group
Inc
2.45%,
02/04/2032
60‌
53‌
3.40%,
05/06/2030
530‌
507‌
3.70%,
02/04/2051
60‌
42‌
3.88%,
09/16/2046
410‌
306‌
4.00%,
02/04/2061
(a)
60‌
42‌
4.88%,
02/04/2028
545‌
549‌
5.25%,
08/06/2035
155‌
155‌
5.38%,
01/31/2044
375‌
351‌
5.80%,
02/14/2039
350‌
354‌
Archer-Daniels-Midland
Co
2.70%,
09/15/2051
60‌
37‌
2.90%,
03/01/2032
130‌
119‌
4.50%,
08/15/2033
290‌
287‌
BAT
Capital
Corp
2.26%,
03/25/2028
150‌
144‌
2.73%,
03/25/2031
150‌
137‌
3.46%,
09/06/2029
210‌
203‌
3.56%,
08/15/2027
400‌
396‌
3.98%,
09/25/2050
390‌
286‌
4.39%,
08/15/2037
540‌
494‌
4.54%,
08/15/2047
400‌
330‌
4.63%,
03/22/2033
70‌
69‌
5.63%,
08/15/2035
225‌
232‌
5.83%,
02/20/2031
100‌
104‌
6.42%,
08/02/2033
155‌
168‌
7.08%,
08/02/2043
155‌
173‌
7.08%,
08/02/2053
80‌
90‌
BAT
International
Finance
PLC
5.93%,
02/02/2029
310‌
321‌
Bunge
Ltd
Finance
Corp
2.75%,
05/14/2031
330‌
302‌
5.15%,
08/04/2035
155‌
155‌
5.15%,
03/19/2036
150‌
150‌
Philip
Morris
International
Inc
1.75%,
11/01/2030
85‌
75‌
3.88%,
10/27/2028
170‌
168‌
4.13%,
04/28/2028
155‌
154‌
4.13%,
03/04/2043
300‌
252‌
4.25%,
10/29/2032
170‌
165‌
4.38%,
04/30/2030
175‌
174‌
4.63%,
11/01/2029
140‌
141‌
4.88%,
02/15/2028
160‌
161‌
4.88%,
02/13/2029
130‌
131‌
4.88%,
04/30/2035
150‌
148‌
4.90%,
11/01/2034
140‌
139‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
4
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Agriculture
(continued)
Philip
Morris
International
Inc
(continued)
5.13%,
11/17/2027
$
580‌
$
587‌
5.25%,
02/13/2034
300‌
306‌
5.38%,
02/15/2033
160‌
165‌
5.50%,
09/07/2030
315‌
326‌
5.63%,
11/17/2029
580‌
600‌
5.75%,
11/17/2032
290‌
304‌
Reynolds
American
Inc
5.70%,
08/15/2035
50‌
52‌
5.85%,
08/15/2045
375‌
369‌
$
10,973‌
Airlines
-
0
.02
%
American
Airlines
2019-1
Class
AA
Pass
Through
Trust
3.15%,
08/15/2033
94‌
88‌
American
Airlines
2026-1
Class
A
Pass
Through
Trust
5.25%,
05/10/2040
150‌
149‌
Delta
Air
Lines
2020-1
Class
AA
Pass
Through
Trust
2.00%,
06/10/2028
208‌
202‌
Delta
Air
Lines
Inc
4.95%,
07/10/2028
155‌
156‌
United
Airlines
2019-2
Class
AA
Pass
Through
Trust
2.70%,
11/01/2033
49‌
45‌
$
640‌
Apparel
-
0
.02
%
NIKE
Inc
3.25%,
03/27/2040
155‌
123‌
3.38%,
11/01/2046
225‌
163‌
3.63%,
05/01/2043
350‌
276‌
$
562‌
Automobile
Manufacturers
-
0
.52
%
American
Honda
Finance
Corp
2.25%,
01/12/2029
65‌
61‌
4.50%,
09/04/2030
155‌
153‌
4.55%,
03/03/2028
300‌
300‌
4.60%,
04/17/2030
160‌
159‌
4.70%,
01/12/2028
160‌
161‌
4.90%,
07/09/2027
150‌
151‌
4.90%,
01/10/2034
135‌
133‌
5.05%,
07/10/2031
130‌
131‌
5.15%,
07/09/2032
320‌
322‌
5.65%,
11/15/2028
140‌
144‌
5.85%,
10/04/2030
360‌
374‌
Ford
Motor
Co
6.10%,
08/19/2032
215‌
221‌
Ford
Motor
Credit
Co
LLC
4.97%,
04/06/2029
325‌
323‌
5.30%,
09/06/2029
270‌
270‌
5.80%,
03/08/2029
250‌
254‌
5.88%,
11/07/2029
225‌
228‌
5.92%,
03/20/2028
430‌
436‌
6.05%,
03/05/2031
265‌
271‌
6.05%,
11/05/2031
410‌
418‌
6.47%,
05/22/2036
200‌
205‌
6.50%,
02/07/2035
425‌
438‌
6.80%,
11/07/2028
290‌
301‌
7.12%,
11/07/2033
290‌
311‌
7.35%,
11/04/2027
215‌
222‌
General
Motors
Co
5.00%,
04/01/2035
365‌
355‌
5.15%,
04/01/2038
385‌
367‌
5.20%,
04/01/2045
385‌
342‌
5.35%,
04/15/2028
155‌
157‌
5.40%,
04/01/2048
65‌
58‌
5.95%,
04/01/2049
230‌
221‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Automobile
Manufacturers
(continued)
General
Motors
Co
(continued)
6.25%,
04/15/2035
$
155‌
$
163‌
6.25%,
10/02/2043
305‌
307‌
General
Motors
Financial
Co
Inc
2.35%,
01/08/2031
55‌
49‌
2.40%,
04/10/2028
60‌
58‌
2.40%,
10/15/2028
155‌
147‌
2.70%,
06/10/2031
60‌
54‌
4.20%,
10/27/2028
200‌
199‌
4.90%,
10/06/2029
135‌
136‌
5.35%,
07/15/2027
130‌
131‌
5.35%,
01/07/2030
310‌
316‌
5.45%,
07/15/2030
290‌
297‌
5.45%,
09/06/2034
135‌
136‌
5.55%,
07/15/2029
250‌
256‌
5.60%,
06/18/2031
130‌
134‌
5.80%,
01/07/2029
270‌
278‌
5.90%,
01/07/2035
140‌
144‌
6.00%,
01/09/2028
160‌
163‌
6.15%,
07/15/2035
230‌
240‌
6.40%,
01/09/2033
320‌
342‌
Honda
Motor
Co
Ltd
4.44%,
07/08/2028
155‌
155‌
5.34%,
07/08/2035
155‌
156‌
PACCAR
Financial
Corp
4.25%,
06/23/2027
155‌
155‌
4.45%,
08/06/2027
330‌
332‌
4.60%,
01/31/2029
135‌
137‌
Toyota
Motor
Corp
4.19%,
06/30/2027
(a)
155‌
155‌
5.05%,
06/30/2035
155‌
157‌
5.12%,
07/13/2028
(a)
160‌
163‌
Toyota
Motor
Credit
Corp
1.15%,
08/13/2027
160‌
155‌
1.65%,
01/10/2031
55‌
48‌
4.05%,
09/05/2028
155‌
154‌
4.25%,
05/12/2028
160‌
160‌
4.35%,
10/08/2027
335‌
336‌
4.45%,
06/29/2029
205‌
205‌
4.55%,
05/17/2030
320‌
321‌
4.60%,
10/10/2031
375‌
375‌
4.63%,
01/12/2028
400‌
403‌
4.80%,
05/15/2030
155‌
157‌
4.80%,
01/05/2034
180‌
179‌
4.80%,
01/11/2036
145‌
143‌
4.95%,
01/09/2030
310‌
315‌
5.10%,
03/21/2031
125‌
128‌
$
15,526‌
Automobile
Parts
&
Equipment
-
0
.01
%
BorgWarner
Inc
4.38%,
03/15/2045
300‌
249‌
Banks
-
5
.32
%
Australia
&
New
Zealand
Banking
Group
Ltd/New
York
NY
4.90%,
07/16/2027
455‌
459‌
Banco
Santander
SA
2.75%,
12/03/2030
400‌
362‌
3.49%,
05/28/2030
200‌
190‌
4.60%,
04/15/2029
200‌
199‌
5.13%,
11/06/2035
200‌
196‌
5.29%,
08/18/2027
200‌
202‌
5.44%,
07/15/2031
400‌
411‌
5.44%,
04/15/2036
200‌
200‌
5.57%,
01/17/2030
400‌
410‌
5.59%,
08/08/2028
200‌
204‌
6.94%,
11/07/2033
400‌
449‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
5
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Bank
of
America
Corp
1.90%,
07/23/2031
(f)
$
445‌
$
398‌
Secured
Overnight
Financing
Rate
+
1.53%
1.92%,
10/24/2031
(f)
205‌
182‌
Secured
Overnight
Financing
Rate
+
1.37%
2.09%,
06/14/2029
(f)
60‌
57‌
Secured
Overnight
Financing
Rate
+
1.06%
2.30%,
07/21/2032
(f)
440‌
389‌
Secured
Overnight
Financing
Rate
+
1.22%
2.48%,
09/21/2036
(f)
630‌
550‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.20%
2.50%,
02/13/2031
(f)
225‌
208‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.25%
2.57%,
10/20/2032
(f)
260‌
232‌
Secured
Overnight
Financing
Rate
+
1.21%
2.65%,
03/11/2032
(f)
325‌
295‌
Secured
Overnight
Financing
Rate
+
1.22%
2.68%,
06/19/2041
(f)
465‌
337‌
Secured
Overnight
Financing
Rate
+
1.93%
2.83%,
10/24/2051
(f)
175‌
110‌
Secured
Overnight
Financing
Rate
+
1.88%
2.97%,
02/04/2033
(f)
530‌
479‌
Secured
Overnight
Financing
Rate
+
1.33%
2.97%,
07/21/2052
(f)
115‌
74‌
Secured
Overnight
Financing
Rate
+
1.56%
3.25%,
10/21/2027
550‌
544‌
3.31%,
04/22/2042
(f)
715‌
554‌
Secured
Overnight
Financing
Rate
+
1.58%
3.42%,
12/20/2028
(f)
725‌
714‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.30%
3.59%,
07/21/2028
(f)
600‌
595‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.63%
3.85%,
03/08/2037
(f)
550‌
512‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.00%
3.97%,
03/05/2029
(f)
75‌
74‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.33%
3.97%,
02/07/2030
(f)
600‌
590‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.47%
4.08%,
03/20/2051
(f)
515‌
407‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.41%
4.27%,
07/23/2029
(f)
250‌
249‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.57%
4.33%,
03/15/2050
(f)
255‌
211‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.78%
4.46%,
02/06/2032
(f)
295‌
290‌
Secured
Overnight
Financing
Rate
+
0.87%
4.48%,
04/23/2030
(f)
325‌
324‌
Secured
Overnight
Financing
Rate
+
0.87%
4.57%,
04/27/2033
(f)
315‌
309‌
Secured
Overnight
Financing
Rate
+
1.83%
4.62%,
05/09/2029
(f)
405‌
406‌
Secured
Overnight
Financing
Rate
+
1.11%
4.70%,
04/23/2032
(f)
300‌
298‌
Secured
Overnight
Financing
Rate
+
1.04%
4.98%,
01/24/2029
(f)
300‌
302‌
Secured
Overnight
Financing
Rate
+
0.83%
5.00%,
01/21/2044
75‌
70‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Bank
of
America
Corp
(continued)
5.02%,
07/22/2033
(f)
$
585‌
$
588‌
Secured
Overnight
Financing
Rate
+
2.16%
5.05%,
02/06/2037
(f)
350‌
345‌
Secured
Overnight
Financing
Rate
+
1.13%
5.16%,
01/24/2031
(f)
300‌
305‌
Secured
Overnight
Financing
Rate
+
1.00%
5.20%,
04/25/2029
(f)
250‌
253‌
Secured
Overnight
Financing
Rate
+
1.63%
5.29%,
04/25/2034
(f)
515‌
523‌
Secured
Overnight
Financing
Rate
+
1.91%
5.43%,
08/15/2035
(f)
200‌
201‌
Secured
Overnight
Financing
Rate
+
1.91%
5.46%,
05/09/2036
(f)
400‌
409‌
Secured
Overnight
Financing
Rate
+
1.64%
5.47%,
01/23/2035
(f)
695‌
711‌
Secured
Overnight
Financing
Rate
+
1.65%
5.49%,
04/23/2037
(f)
505‌
503‌
Secured
Overnight
Financing
Rate
+
1.57%
5.51%,
01/24/2036
(f)
435‌
446‌
Secured
Overnight
Financing
Rate
+
1.31%
5.52%,
10/25/2035
(f)
615‌
620‌
Secured
Overnight
Financing
Rate
+
1.74%
5.82%,
09/15/2029
(f)
315‌
323‌
Secured
Overnight
Financing
Rate
+
1.57%
5.87%,
09/15/2034
(f)
315‌
330‌
Secured
Overnight
Financing
Rate
+
1.84%
5.88%,
02/07/2042
60‌
62‌
6.11%,
01/29/2037
100‌
106‌
7.75%,
05/14/2038
250‌
298‌
Bank
of
Montreal
3.09%,
01/10/2037
(f)
235‌
210‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.40%
4.35%,
09/22/2031
(f)
160‌
158‌
Secured
Overnight
Financing
Rate
+
1.08%
4.44%,
01/14/2032
(f)
145‌
143‌
Secured
Overnight
Financing
Rate
+
0.97%
4.55%,
06/02/2029
(f),(g)
150‌
150‌
Secured
Overnight
Financing
Rate
+
0.63%
4.64%,
09/10/2030
(f)
270‌
270‌
Secured
Overnight
Financing
Rate
+
1.25%
4.70%,
09/14/2027
215‌
216‌
4.88%,
06/02/2032
(f),(g)
150‌
150‌
Secured
Overnight
Financing
Rate
+
0.96%
5.37%,
06/04/2027
195‌
197‌
5.72%,
09/25/2028
315‌
324‌
Bank
of
New
York
Mellon
Corp/The
2.50%,
01/26/2032
65‌
59‌
3.99%,
06/13/2028
(f)
70‌
70‌
Secured
Overnight
Financing
Rate
+
1.15%
4.03%,
01/22/2030
(f)
145‌
143‌
Secured
Overnight
Financing
Rate
+
0.63%
4.44%,
06/09/2028
(f)
380‌
381‌
Secured
Overnight
Financing
Rate
+
0.68%
4.54%,
02/01/2029
(f)
185‌
186‌
Secured
Overnight
Financing
Rate
+
1.17%
4.89%,
07/21/2028
(f)
130‌
131‌
Secured
Overnight
Financing
Rate
+
0.84%
4.94%,
02/11/2031
(f)
335‌
339‌
Secured
Overnight
Financing
Rate
+
0.89%
4.97%,
04/26/2034
(f)
170‌
170‌
Secured
Overnight
Financing
Rate
+
1.61%
5.06%,
07/22/2032
(f)
130‌
132‌
Secured
Overnight
Financing
Rate
+
1.23%
5.09%,
04/23/2037
(f)
150‌
149‌
Secured
Overnight
Financing
Rate
+
1.18%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
6
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Bank
of
New
York
Mellon
Corp/The
(continued)
5.19%,
03/14/2035
(f)
$
360‌
$
365‌
Secured
Overnight
Financing
Rate
+
1.42%
5.32%,
06/06/2036
(f)
65‌
66‌
Secured
Overnight
Financing
Rate
+
1.35%
5.83%,
10/25/2033
(f)
155‌
164‌
Secured
Overnight
Financing
Rate
+
2.07%
6.32%,
10/25/2029
(f)
315‌
328‌
Secured
Overnight
Financing
Rate
+
1.60%
Bank
of
Nova
Scotia/The
2.15%,
08/01/2031
60‌
53‌
4.04%,
09/15/2028
(f)
190‌
189‌
Secured
Overnight
Financing
Rate
+
0.76%
4.25%,
02/02/2030
(f)
445‌
440‌
Secured
Overnight
Financing
Rate
+
0.73%
4.58%,
06/05/2029
(f),(g)
295‌
295‌
Secured
Overnight
Financing
Rate
+
0.66%
4.74%,
11/10/2032
(f)
325‌
324‌
Secured
Overnight
Financing
Rate
+
1.44%
4.85%,
02/01/2030
315‌
318‌
5.40%,
06/04/2027
255‌
258‌
Barclays
PLC
2.65%,
06/24/2031
(f)
385‌
353‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.90%
3.56%,
09/23/2035
(f)
200‌
188‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.90%
3.81%,
03/10/2042
(f)
200‌
158‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.70%
4.52%,
02/24/2032
(f)
300‌
294‌
Secured
Overnight
Financing
Rate
+
1.14%
4.84%,
09/10/2028
(f)
200‌
201‌
Secured
Overnight
Financing
Rate
+
1.34%
4.94%,
09/10/2030
(f)
200‌
201‌
Secured
Overnight
Financing
Rate
+
1.56%
4.97%,
05/16/2029
(f)
500‌
503‌
3
Month
USD
LIBOR
+
1.90%
5.09%,
02/25/2029
(f)
225‌
227‌
Secured
Overnight
Financing
Rate
+
0.96%
5.50%,
08/09/2028
(f)
300‌
303‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
2.65%
5.69%,
03/12/2030
(f)
250‌
256‌
Secured
Overnight
Financing
Rate
+
1.74%
5.79%,
02/25/2036
(f)
215‌
219‌
Secured
Overnight
Financing
Rate
+
1.59%
5.86%,
08/11/2046
(f)
200‌
200‌
Secured
Overnight
Financing
Rate
+
1.83%
6.22%,
05/09/2034
(f)
320‌
338‌
Secured
Overnight
Financing
Rate
+
2.98%
6.69%,
09/13/2034
(f)
315‌
341‌
Secured
Overnight
Financing
Rate
+
2.62%
7.44%,
11/02/2033
(f)
310‌
347‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
3.50%
Canadian
Imperial
Bank
of
Commerce
4.28%,
01/29/2030
(f)
150‌
149‌
Secured
Overnight
Financing
Rate
+
0.79%
4.58%,
09/08/2031
(a),(f)
300‌
298‌
Secured
Overnight
Financing
Rate
+
1.17%
4.63%,
09/11/2030
(f)
135‌
135‌
Secured
Overnight
Financing
Rate
+
1.34%
5.00%,
04/28/2028
350‌
354‌
5.26%,
04/08/2029
130‌
133‌
5.99%,
10/03/2028
160‌
165‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Capital
One
NA
2.70%,
02/06/2030
$
350‌
$
328‌
Citibank
NA
4.91%,
05/29/2030
500‌
507‌
5.57%,
04/30/2034
260‌
271‌
5.80%,
09/29/2028
275‌
284‌
Citigroup
Inc
2.52%,
11/03/2032
(f)
265‌
235‌
Secured
Overnight
Financing
Rate
+
1.18%
2.56%,
05/01/2032
(f)
200‌
180‌
Secured
Overnight
Financing
Rate
+
1.17%
2.57%,
06/03/2031
(f)
310‌
285‌
Secured
Overnight
Financing
Rate
+
2.11%
2.67%,
01/29/2031
(f)
445‌
414‌
Secured
Overnight
Financing
Rate
+
1.15%
2.90%,
11/03/2042
(f)
49‌
36‌
Secured
Overnight
Financing
Rate
+
1.38%
2.98%,
11/05/2030
(f)
150‌
142‌
Secured
Overnight
Financing
Rate
+
1.42%
3.06%,
01/25/2033
(f)
500‌
454‌
Secured
Overnight
Financing
Rate
+
1.35%
3.52%,
10/27/2028
(f)
125‌
124‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.41%
3.79%,
03/17/2033
(f)
520‌
490‌
Secured
Overnight
Financing
Rate
+
1.94%
3.88%,
01/24/2039
(f)
220‌
191‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.43%
4.13%,
07/25/2028
620‌
614‌
4.45%,
09/29/2027
575‌
575‌
4.50%,
09/11/2031
(f)
345‌
341‌
Secured
Overnight
Financing
Rate
+
1.17%
4.54%,
09/19/2030
(f)
270‌
269‌
Secured
Overnight
Financing
Rate
+
1.34%
4.65%,
07/30/2045
115‌
102‌
4.79%,
03/04/2029
(f)
300‌
301‌
Secured
Overnight
Financing
Rate
+
0.87%
4.91%,
05/24/2033
(f)
165‌
164‌
Secured
Overnight
Financing
Rate
+
2.09%
4.95%,
05/07/2031
(f)
305‌
307‌
Secured
Overnight
Financing
Rate
+
1.46%
5.17%,
02/13/2030
(f)
265‌
269‌
Secured
Overnight
Financing
Rate
+
1.36%
5.17%,
09/11/2036
(f)
315‌
313‌
Secured
Overnight
Financing
Rate
+
1.49%
5.33%,
03/27/2036
(f)
475‌
479‌
Secured
Overnight
Financing
Rate
+
1.47%
5.41%,
09/19/2039
(f)
325‌
321‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.73%
5.61%,
03/04/2056
(f)
150‌
147‌
Secured
Overnight
Financing
Rate
+
1.75%
5.83%,
02/13/2035
(f)
500‌
511‌
Secured
Overnight
Financing
Rate
+
2.06%
6.02%,
01/24/2036
(f)
525‌
541‌
Secured
Overnight
Financing
Rate
+
1.83%
6.17%,
05/25/2034
(f)
320‌
335‌
Secured
Overnight
Financing
Rate
+
2.66%
6.27%,
11/17/2033
(f)
310‌
332‌
Secured
Overnight
Financing
Rate
+
2.34%
6.68%,
09/13/2043
180‌
195‌
Cooperatieve
Rabobank
UA
5.25%,
05/24/2041
185‌
182‌
Cooperatieve
Rabobank
UA/NY
4.16%,
01/14/2031
250‌
246‌
4.80%,
01/09/2029
265‌
268‌
4.88%,
01/21/2028
300‌
303‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
7
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Deutsche
Bank
AG/New
York
NY
4.95%,
08/04/2031
(f)
$
230‌
$
229‌
Secured
Overnight
Financing
Rate
+
1.30%
5.00%,
09/11/2030
(f)
270‌
271‌
Secured
Overnight
Financing
Rate
+
1.70%
5.30%,
05/09/2031
(f)
340‌
343‌
Secured
Overnight
Financing
Rate
+
1.72%
5.37%,
09/09/2027
255‌
259‌
5.37%,
01/10/2029
(f)
365‌
369‌
Secured
Overnight
Financing
Rate
+
1.21%
6.72%,
01/18/2029
(f)
320‌
330‌
Secured
Overnight
Financing
Rate
+
3.18%
6.82%,
11/20/2029
(f)
300‌
315‌
Secured
Overnight
Financing
Rate
+
2.51%
7.08%,
02/10/2034
(f)
320‌
343‌
Secured
Overnight
Financing
Rate
+
3.65%
Fifth
Third
Bancorp
5.14%,
01/29/2037
(a),(f)
145‌
142‌
Secured
Overnight
Financing
Rate
+
1.24%
5.63%,
01/29/2032
(f)
135‌
139‌
Secured
Overnight
Financing
Rate
+
1.84%
6.34%,
07/27/2029
(f)
235‌
243‌
Secured
Overnight
Financing
Rate
+
2.34%
Goldman
Sachs
Bank
USA/New
York
NY
4.66%,
06/03/2029
(f),(g)
240‌
240‌
Secured
Overnight
Financing
Rate
+
0.72%
Goldman
Sachs
Group
Inc/The
1.99%,
01/27/2032
(f)
355‌
312‌
Secured
Overnight
Financing
Rate
+
1.09%
2.60%,
02/07/2030
590‌
550‌
2.62%,
04/22/2032
(f)
440‌
396‌
Secured
Overnight
Financing
Rate
+
1.28%
2.65%,
10/21/2032
(f)
425‌
378‌
Secured
Overnight
Financing
Rate
+
1.26%
2.91%,
07/21/2042
(f)
115‌
83‌
Secured
Overnight
Financing
Rate
+
1.47%
3.10%,
02/24/2033
(f)
210‌
190‌
Secured
Overnight
Financing
Rate
+
1.41%
3.21%,
04/22/2042
(f)
60‌
45‌
Secured
Overnight
Financing
Rate
+
1.51%
3.44%,
02/24/2043
(f)
200‌
153‌
Secured
Overnight
Financing
Rate
+
1.63%
3.69%,
06/05/2028
(f)
290‌
288‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.77%
3.81%,
04/23/2029
(f)
375‌
370‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.42%
4.15%,
01/21/2029
(f)
295‌
293‌
Secured
Overnight
Financing
Rate
+
0.71%
4.15%,
10/21/2029
(f)
155‌
153‌
Secured
Overnight
Financing
Rate
+
0.90%
4.22%,
05/01/2029
(f)
250‌
248‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.56%
4.37%,
10/21/2031
(f)
315‌
309‌
Secured
Overnight
Financing
Rate
+
1.06%
4.41%,
04/23/2039
(f)
175‌
158‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.69%
4.48%,
08/23/2028
(f)
295‌
295‌
Secured
Overnight
Financing
Rate
+
1.73%
4.52%,
01/21/2032
(f)
150‌
148‌
Secured
Overnight
Financing
Rate
+
0.96%
4.59%,
04/20/2030
(f)
325‌
324‌
Secured
Overnight
Financing
Rate
+
0.99%
4.69%,
10/23/2030
(f)
275‌
275‌
Secured
Overnight
Financing
Rate
+
1.14%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Goldman
Sachs
Group
Inc/The
(continued)
4.80%,
07/08/2044
$
210‌
$
189‌
4.94%,
10/21/2036
(f)
155‌
151‌
Secured
Overnight
Financing
Rate
+
1.33%
4.97%,
06/03/2032
(f),(g)
295‌
296‌
Secured
Overnight
Financing
Rate
+
1.03%
5.02%,
10/23/2035
(f)
275‌
271‌
Secured
Overnight
Financing
Rate
+
1.42%
5.05%,
07/23/2030
(f)
295‌
298‌
Secured
Overnight
Financing
Rate
+
1.21%
5.07%,
01/21/2037
(f)
420‌
411‌
Secured
Overnight
Financing
Rate
+
1.19%
5.09%,
04/20/2034
(f)
325‌
324‌
Secured
Overnight
Financing
Rate
+
1.34%
5.15%,
05/22/2045
450‌
411‌
5.21%,
01/28/2031
(f)
385‌
390‌
Secured
Overnight
Financing
Rate
+
1.08%
5.33%,
07/23/2035
(f)
475‌
478‌
Secured
Overnight
Financing
Rate
+
1.55%
5.39%,
02/02/2041
(f)
675‌
658‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.18%
5.43%,
06/03/2037
(f),(g)
255‌
256‌
Secured
Overnight
Financing
Rate
+
1.31%
5.54%,
01/28/2036
(f)
310‌
315‌
Secured
Overnight
Financing
Rate
+
1.38%
5.54%,
01/21/2047
(f)
220‌
213‌
Secured
Overnight
Financing
Rate
+
1.32%
5.56%,
11/19/2045
(f)
280‌
272‌
Secured
Overnight
Financing
Rate
+
1.58%
5.73%,
04/25/2030
(f)
220‌
226‌
Secured
Overnight
Financing
Rate
+
1.27%
5.73%,
01/28/2056
(f)
245‌
242‌
Secured
Overnight
Financing
Rate
+
1.70%
5.85%,
04/25/2035
(f)
330‌
344‌
Secured
Overnight
Financing
Rate
+
1.55%
6.25%,
02/01/2041
220‌
234‌
6.48%,
10/24/2029
(f)
315‌
328‌
Secured
Overnight
Financing
Rate
+
1.77%
6.56%,
10/24/2034
(f)
160‌
174‌
Secured
Overnight
Financing
Rate
+
1.95%
6.75%,
10/01/2037
575‌
629‌
HSBC
Holdings
PLC
2.01%,
09/22/2028
(f)
300‌
290‌
Secured
Overnight
Financing
Rate
+
1.73%
2.36%,
08/18/2031
(f)
200‌
181‌
Secured
Overnight
Financing
Rate
+
1.95%
2.80%,
05/24/2032
(f)
600‌
543‌
Secured
Overnight
Financing
Rate
+
1.19%
2.85%,
06/04/2031
(f)
200‌
185‌
Secured
Overnight
Financing
Rate
+
2.39%
3.97%,
05/22/2030
(f)
300‌
294‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.87%
4.40%,
03/10/2030
(f)
200‌
198‌
Secured
Overnight
Financing
Rate
+
0.99%
4.58%,
06/19/2029
(f)
300‌
300‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.80%
4.68%,
03/10/2032
(f)
325‌
321‌
Secured
Overnight
Financing
Rate
+
1.21%
4.76%,
06/09/2028
(f)
250‌
251‌
Secured
Overnight
Financing
Rate
+
2.11%
4.90%,
03/03/2029
(f)
210‌
211‌
Secured
Overnight
Financing
Rate
+
1.03%
5.13%,
03/03/2031
(f)
300‌
303‌
Secured
Overnight
Financing
Rate
+
1.29%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
8
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
HSBC
Holdings
PLC
(continued)
5.13%,
11/06/2036
(f)
$
200‌
$
197‌
Secured
Overnight
Financing
Rate
+
1.43%
5.21%,
05/12/2034
(f)
325‌
324‌
Secured
Overnight
Financing
Rate
+
1.32%
5.24%,
05/13/2031
(f)
200‌
203‌
Secured
Overnight
Financing
Rate
+
1.57%
5.28%,
03/10/2037
(f)
300‌
297‌
Secured
Overnight
Financing
Rate
+
1.55%
5.29%,
11/19/2030
(f)
240‌
243‌
Secured
Overnight
Financing
Rate
+
1.29%
5.40%,
08/11/2033
(f)
500‌
508‌
Secured
Overnight
Financing
Rate
+
2.87%
5.55%,
03/04/2030
(f)
250‌
255‌
Secured
Overnight
Financing
Rate
+
1.46%
5.72%,
03/04/2035
(f)
250‌
258‌
Secured
Overnight
Financing
Rate
+
1.78%
5.73%,
05/17/2032
(f)
255‌
263‌
Secured
Overnight
Financing
Rate
+
1.52%
5.74%,
09/10/2036
(f)
220‌
222‌
Secured
Overnight
Financing
Rate
+
1.96%
5.79%,
05/13/2036
(f)
305‌
315‌
Secured
Overnight
Financing
Rate
+
1.88%
5.87%,
11/18/2035
(f)
280‌
287‌
Secured
Overnight
Financing
Rate
+
1.90%
6.16%,
03/09/2029
(f)
200‌
205‌
Secured
Overnight
Financing
Rate
+
1.97%
6.25%,
03/09/2034
(f)
270‌
287‌
Secured
Overnight
Financing
Rate
+
2.39%
6.33%,
03/09/2044
(f)
595‌
636‌
Secured
Overnight
Financing
Rate
+
2.65%
6.50%,
09/15/2037
100‌
108‌
6.55%,
06/20/2034
(f)
320‌
341‌
Secured
Overnight
Financing
Rate
+
2.98%
7.39%,
11/03/2028
(f)
310‌
322‌
Secured
Overnight
Financing
Rate
+
3.35%
HSBC
USA
Inc
4.65%,
06/03/2028
225‌
226‌
Huntington
Bancshares
Inc/OH
5.27%,
01/15/2031
(f)
330‌
335‌
Secured
Overnight
Financing
Rate
+
1.28%
5.61%,
01/28/2041
(f)
145‌
142‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.35%
Huntington
National
Bank/The
5.65%,
01/10/2030
310‌
320‌
ING
Groep
NV
4.86%,
03/25/2029
(f)
300‌
302‌
Secured
Overnight
Financing
Rate
+
1.01%
5.34%,
03/19/2030
(f)
250‌
255‌
Secured
Overnight
Financing
Rate
+
1.44%
5.53%,
03/25/2036
(f)
200‌
203‌
Secured
Overnight
Financing
Rate
+
1.61%
6.11%,
09/11/2034
(f)
235‌
250‌
Secured
Overnight
Financing
Rate
+
2.09%
JPMorgan
Chase
&
Co
1.76%,
11/19/2031
(f)
135‌
119‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.11%
1.95%,
02/04/2032
(f)
115‌
101‌
Secured
Overnight
Financing
Rate
+
1.07%
2.07%,
06/01/2029
(f)
190‌
181‌
Secured
Overnight
Financing
Rate
+
1.02%
2.18%,
06/01/2028
(f)
70‌
69‌
Secured
Overnight
Financing
Rate
+
1.89%
2.53%,
11/19/2041
(f)
65‌
46‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.51%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
JPMorgan
Chase
&
Co
(continued)
2.55%,
11/08/2032
(f)
$
420‌
$
375‌
Secured
Overnight
Financing
Rate
+
1.18%
2.58%,
04/22/2032
(f)
465‌
420‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.25%
2.74%,
10/15/2030
(f)
600‌
565‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.51%
2.96%,
05/13/2031
(f)
575‌
538‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.52%
3.11%,
04/22/2041
(f)
235‌
182‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.46%
3.11%,
04/22/2051
(f)
335‌
224‌
Secured
Overnight
Financing
Rate
+
2.44%
3.33%,
04/22/2052
(f)
215‌
149‌
Secured
Overnight
Financing
Rate
+
1.58%
3.51%,
01/23/2029
(f)
590‌
581‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.21%
3.88%,
07/24/2038
(f)
100‌
88‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.62%
3.96%,
11/15/2048
(f)
510‌
404‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.64%
4.01%,
04/23/2029
(f)
200‌
198‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.38%
4.20%,
07/23/2029
(f)
230‌
228‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.52%
4.25%,
10/22/2031
(f)
315‌
309‌
Secured
Overnight
Financing
Rate
+
0.93%
4.35%,
01/22/2032
(f)
295‌
290‌
Secured
Overnight
Financing
Rate
+
0.84%
4.51%,
10/22/2028
(f)
205‌
205‌
Secured
Overnight
Financing
Rate
+
0.86%
4.57%,
06/14/2030
(f)
305‌
305‌
Secured
Overnight
Financing
Rate
+
1.75%
4.59%,
04/26/2033
(f)
135‌
133‌
Secured
Overnight
Financing
Rate
+
1.80%
4.60%,
10/22/2030
(f)
475‌
474‌
Secured
Overnight
Financing
Rate
+
1.04%
4.81%,
10/22/2036
(f)
275‌
267‌
Secured
Overnight
Financing
Rate
+
1.19%
4.85%,
07/25/2028
(f)
315‌
317‌
Secured
Overnight
Financing
Rate
+
1.99%
4.90%,
01/22/2037
(f)
145‌
141‌
Secured
Overnight
Financing
Rate
+
1.07%
4.91%,
07/25/2033
(f)
435‌
436‌
Secured
Overnight
Financing
Rate
+
2.08%
4.95%,
10/22/2035
(f)
460‌
454‌
Secured
Overnight
Financing
Rate
+
1.34%
4.95%,
06/01/2045
430‌
396‌
4.98%,
07/22/2028
(f)
260‌
262‌
Secured
Overnight
Financing
Rate
+
0.93%
5.00%,
07/22/2030
(f)
260‌
262‌
Secured
Overnight
Financing
Rate
+
1.13%
5.01%,
01/23/2030
(f)
320‌
323‌
Secured
Overnight
Financing
Rate
+
1.31%
5.10%,
04/22/2031
(f)
320‌
325‌
Secured
Overnight
Financing
Rate
+
1.44%
5.14%,
01/24/2031
(f)
425‌
432‌
Secured
Overnight
Financing
Rate
+
1.01%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
9
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
JPMorgan
Chase
&
Co
(continued)
5.15%,
04/23/2037
(f)
$
325‌
$
323‌
Secured
Overnight
Financing
Rate
+
1.26%
5.19%,
02/05/2037
(f)
145‌
143‌
Secured
Overnight
Financing
Rate
+
1.30%
5.29%,
07/22/2035
(f)
475‌
480‌
Secured
Overnight
Financing
Rate
+
1.46%
5.30%,
07/24/2029
(f)
315‌
320‌
Secured
Overnight
Financing
Rate
+
1.45%
5.34%,
01/23/2035
(f)
185‌
188‌
Secured
Overnight
Financing
Rate
+
1.62%
5.35%,
06/01/2034
(f)
545‌
556‌
Secured
Overnight
Financing
Rate
+
1.85%
5.50%,
01/24/2036
(f)
530‌
542‌
Secured
Overnight
Financing
Rate
+
1.32%
5.53%,
11/29/2045
(f)
375‌
373‌
Secured
Overnight
Financing
Rate
+
1.55%
5.57%,
04/22/2036
(f)
465‌
479‌
Secured
Overnight
Financing
Rate
+
1.68%
5.58%,
04/22/2030
(f)
250‌
256‌
Secured
Overnight
Financing
Rate
+
1.16%
5.58%,
07/23/2036
(f)
405‌
412‌
Secured
Overnight
Financing
Rate
+
1.64%
5.60%,
07/15/2041
370‌
377‌
5.72%,
09/14/2033
(f)
255‌
264‌
Secured
Overnight
Financing
Rate
+
2.58%
5.77%,
04/22/2035
(f)
390‌
406‌
Secured
Overnight
Financing
Rate
+
1.49%
6.09%,
10/23/2029
(f)
320‌
331‌
Secured
Overnight
Financing
Rate
+
1.57%
6.25%,
10/23/2034
(f)
320‌
343‌
Secured
Overnight
Financing
Rate
+
1.81%
Keybank
National
Association
5.85%,
11/15/2027
500‌
509‌
KeyCorp
5.12%,
04/04/2031
(f)
200‌
202‌
Secured
Overnight
Financing
Rate
+
1.23%
5.31%,
01/28/2037
(f)
145‌
143‌
Secured
Overnight
Financing
Rate
+
1.37%
Korea
Development
Bank/The
3.75%,
09/16/2030
300‌
294‌
4.00%,
01/28/2031
400‌
394‌
4.38%,
02/15/2028
315‌
316‌
4.50%,
02/15/2029
265‌
267‌
5.63%,
10/23/2033
200‌
213‌
Kreditanstalt
fuer
Wiederaufbau
0.00%,
06/29/2037
(h)
250‌
151‌
2.88%,
04/03/2028
400‌
392‌
3.50%,
08/27/2027
295‌
293‌
3.50%,
08/09/2028
305‌
302‌
3.50%,
05/15/2029
450‌
443‌
3.75%,
02/15/2028
375‌
374‌
3.75%,
07/15/2030
485‌
478‌
3.75%,
03/14/2031
490‌
482‌
3.88%,
05/15/2028
290‌
289‌
3.88%,
06/15/2028
380‌
379‌
4.00%,
06/28/2027
305‌
305‌
4.00%,
03/15/2029
480‌
479‌
4.13%,
07/22/2031
440‌
439‌
4.13%,
07/15/2033
465‌
460‌
4.38%,
02/28/2034
140‌
140‌
4.63%,
03/18/2030
400‌
407‌
4.75%,
10/29/2030
320‌
328‌
Landwirtschaftliche
Rentenbank
3.63%,
10/08/2030
(a)
305‌
299‌
3.88%,
09/28/2027
320‌
320‌
3.88%,
06/14/2028
320‌
319‌
4.13%,
05/28/2030
300‌
300‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Landwirtschaftliche
Rentenbank
(continued)
4.13%,
06/03/2031
(g)
$
145‌
$
145‌
4.63%,
04/17/2029
250‌
254‌
Lloyds
Banking
Group
PLC
3.57%,
11/07/2028
(f)
200‌
197‌
3
Month
USD
LIBOR
+
1.21%
4.24%,
02/10/2030
(f)
200‌
198‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.60%
4.34%,
01/09/2048
400‌
327‌
4.38%,
03/22/2028
200‌
200‌
4.82%,
06/13/2029
(f)
200‌
201‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.83%
4.94%,
11/04/2036
(f)
320‌
310‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.97%
4.98%,
08/11/2033
(f)
200‌
199‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
2.30%
5.09%,
11/26/2028
(f)
210‌
212‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.85%
5.67%,
02/10/2047
(f)
200‌
196‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.82%
5.68%,
01/05/2035
(f)
265‌
273‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.75%
5.87%,
03/06/2029
(f)
200‌
205‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.70%
M&T
Bank
Corp
4.83%,
01/16/2029
(f)
300‌
301‌
Secured
Overnight
Financing
Rate
+
0.93%
5.18%,
07/08/2031
(f)
155‌
157‌
Secured
Overnight
Financing
Rate
+
1.40%
5.30%,
04/18/2036
(f)
150‌
149‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.38%
Mitsubishi
UFJ
Financial
Group
Inc
2.05%,
07/17/2030
435‌
393‌
2.56%,
02/25/2030
285‌
264‌
3.20%,
07/18/2029
200‌
192‌
3.75%,
07/18/2039
335‌
285‌
4.32%,
04/19/2033
(f)
200‌
194‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.55%
4.51%,
01/14/2032
(f)
325‌
320‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.80%
4.53%,
09/12/2031
(f)
200‌
198‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.80%
5.13%,
07/20/2033
(f)
200‌
202‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
2.13%
5.16%,
04/24/2031
(f)
200‌
203‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.17%
5.19%,
09/12/2036
(f)
250‌
250‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.93%
5.33%,
04/21/2037
(f)
300‌
301‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.02%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
10
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Mitsubishi
UFJ
Financial
Group
Inc
(continued)
5.35%,
09/13/2028
(f)
$
255‌
$
258‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.90%
5.41%,
04/19/2034
(a),(f)
200‌
205‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.97%
5.43%,
04/17/2035
(f)
200‌
204‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.00%
5.57%,
01/16/2036
(f)
225‌
231‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.95%
Mizuho
Financial
Group
Inc
2.20%,
07/10/2031
(f)
200‌
181‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.77%
2.26%,
07/09/2032
(f)
200‌
176‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.90%
3.15%,
07/16/2030
(f)
350‌
335‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.39%
4.44%,
05/12/2032
(f)
200‌
196‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.70%
5.32%,
07/08/2036
(f)
340‌
342‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.07%
5.41%,
09/13/2028
(f)
255‌
258‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
2.05%
5.59%,
07/10/2035
(f)
260‌
267‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.30%
5.74%,
05/27/2031
(f)
320‌
331‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.65%
5.75%,
07/06/2034
(f)
315‌
327‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.90%
Morgan
Stanley
1.79%,
02/13/2032
(f)
550‌
479‌
Secured
Overnight
Financing
Rate
+
1.03%
1.93%,
04/28/2032
(f)
485‌
422‌
Secured
Overnight
Financing
Rate
+
1.02%
2.24%,
07/21/2032
(f)
115‌
101‌
Secured
Overnight
Financing
Rate
+
1.18%
2.48%,
09/16/2036
(f)
410‌
356‌
Secured
Overnight
Financing
Rate
+
1.36%
2.51%,
10/20/2032
(f)
130‌
115‌
Secured
Overnight
Financing
Rate
+
1.20%
2.70%,
01/22/2031
(f)
450‌
419‌
Secured
Overnight
Financing
Rate
+
1.14%
2.80%,
01/25/2052
(f)
210‌
131‌
Secured
Overnight
Financing
Rate
+
1.43%
2.94%,
01/21/2033
(f)
90‌
81‌
Secured
Overnight
Financing
Rate
+
1.29%
3.22%,
04/22/2042
(f)
310‌
237‌
Secured
Overnight
Financing
Rate
+
1.49%
3.59%,
07/22/2028
315‌
312‌
3
Month
USD
LIBOR
+
1.34%
3.77%,
01/24/2029
(f)
600‌
593‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.40%
3.97%,
07/22/2038
505‌
445‌
3
Month
USD
LIBOR
+
1.46%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Morgan
Stanley
(continued)
4.13%,
10/18/2029
(f)
$
155‌
$
153‌
Secured
Overnight
Financing
Rate
+
0.91%
4.24%,
01/09/2030
(f)
295‌
292‌
Secured
Overnight
Financing
Rate
+
0.80%
4.30%,
01/27/2045
320‌
270‌
4.36%,
10/22/2031
(f)
655‌
643‌
Secured
Overnight
Financing
Rate
+
1.07%
4.56%,
04/10/2030
(f)
150‌
149‌
Secured
Overnight
Financing
Rate
+
0.96%
4.65%,
10/18/2030
(f)
300‌
299‌
Secured
Overnight
Financing
Rate
+
1.10%
4.81%,
04/16/2032
(f)
240‌
239‌
Secured
Overnight
Financing
Rate
+
1.18%
4.89%,
07/20/2033
(f)
275‌
274‌
Secured
Overnight
Financing
Rate
+
2.08%
4.89%,
10/22/2036
(f)
310‌
301‌
Secured
Overnight
Financing
Rate
+
1.31%
5.04%,
07/19/2030
(f)
260‌
262‌
Secured
Overnight
Financing
Rate
+
1.22%
5.07%,
01/30/2037
(f)
295‌
289‌
Secured
Overnight
Financing
Rate
+
1.18%
5.12%,
02/01/2029
(f)
320‌
323‌
Secured
Overnight
Financing
Rate
+
1.73%
5.16%,
04/20/2029
(f)
260‌
263‌
Secured
Overnight
Financing
Rate
+
1.59%
5.17%,
01/16/2030
(f)
200‌
202‌
Secured
Overnight
Financing
Rate
+
1.45%
5.19%,
04/17/2031
(f)
440‌
446‌
Secured
Overnight
Financing
Rate
+
1.51%
5.23%,
01/15/2031
(f)
225‌
228‌
Secured
Overnight
Financing
Rate
+
1.11%
5.25%,
04/21/2034
(f)
425‌
429‌
Secured
Overnight
Financing
Rate
+
1.87%
5.30%,
04/10/2037
(f)
300‌
299‌
Secured
Overnight
Financing
Rate
+
1.41%
5.31%,
01/18/2041
(f)
110‌
107‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.17%
5.32%,
07/19/2035
(f)
335‌
338‌
Secured
Overnight
Financing
Rate
+
1.56%
5.42%,
07/21/2034
(f)
315‌
321‌
Secured
Overnight
Financing
Rate
+
1.88%
5.45%,
07/20/2029
(f)
315‌
321‌
Secured
Overnight
Financing
Rate
+
1.63%
5.47%,
01/18/2035
(f)
325‌
331‌
Secured
Overnight
Financing
Rate
+
1.73%
5.52%,
11/19/2055
(f)
275‌
267‌
Secured
Overnight
Financing
Rate
+
1.71%
5.59%,
01/18/2036
(f)
420‌
431‌
Secured
Overnight
Financing
Rate
+
1.42%
5.60%,
03/24/2051
(f)
200‌
196‌
Secured
Overnight
Financing
Rate
+
4.84%
5.66%,
04/18/2030
(f)
250‌
256‌
Secured
Overnight
Financing
Rate
+
1.26%
5.66%,
04/17/2036
(f)
245‌
252‌
Secured
Overnight
Financing
Rate
+
1.76%
5.83%,
04/19/2035
(f)
275‌
286‌
Secured
Overnight
Financing
Rate
+
1.58%
5.90%,
03/13/2047
(f)
295‌
299‌
Secured
Overnight
Financing
Rate
+
1.78%
5.95%,
01/19/2038
(f)
160‌
166‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.43%
6.30%,
10/18/2028
(f)
310‌
318‌
Secured
Overnight
Financing
Rate
+
2.24%
6.34%,
10/18/2033
(f)
310‌
332‌
Secured
Overnight
Financing
Rate
+
2.56%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
11
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Morgan
Stanley
(continued)
6.38%,
07/24/2042
$
200‌
$
218‌
6.41%,
11/01/2029
(f)
280‌
291‌
Secured
Overnight
Financing
Rate
+
1.83%
6.63%,
11/01/2034
(f)
180‌
197‌
Secured
Overnight
Financing
Rate
+
2.05%
Morgan
Stanley
Bank
NA
4.79%,
05/10/2030
(f)
350‌
351‌
Secured
Overnight
Financing
Rate
+
0.97%
4.97%,
07/14/2028
(f)
260‌
262‌
Secured
Overnight
Financing
Rate
+
0.93%
5.02%,
01/12/2029
(f)
320‌
323‌
Secured
Overnight
Financing
Rate
+
0.91%
Morgan
Stanley
Private
Bank
NA
4.20%,
11/17/2028
(f)
250‌
249‌
Secured
Overnight
Financing
Rate
+
0.78%
4.21%,
02/08/2030
(f)
250‌
247‌
Secured
Overnight
Financing
Rate
+
0.76%
4.47%,
11/19/2031
(f)
250‌
246‌
Secured
Overnight
Financing
Rate
+
1.02%
4.73%,
07/18/2031
(f)
250‌
249‌
Secured
Overnight
Financing
Rate
+
1.08%
National
Australia
Bank
Ltd/New
York
4.15%,
01/13/2031
250‌
247‌
4.53%,
06/13/2030
300‌
302‌
4.79%,
01/10/2029
500‌
508‌
5.09%,
06/11/2027
250‌
253‌
NatWest
Group
PLC
4.89%,
05/18/2029
(f)
500‌
503‌
3
Month
USD
LIBOR
+
1.75%
5.08%,
01/27/2030
(f)
400‌
404‌
3
Month
USD
LIBOR
+
1.91%
5.12%,
05/23/2031
(f)
400‌
404‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.05%
5.78%,
03/01/2035
(f)
200‌
207‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.50%
Oesterreichische
Kontrollbank
AG
3.63%,
09/09/2027
325‌
324‌
3.75%,
09/05/2029
265‌
262‌
3.75%,
09/10/2030
155‌
152‌
4.00%,
05/28/2028
200‌
200‌
4.13%,
05/29/2029
295‌
295‌
4.25%,
03/01/2028
320‌
321‌
4.50%,
01/24/2030
280‌
283‌
PNC
Bank
NA
2.70%,
10/22/2029
375‌
353‌
PNC
Financial
Services
Group
Inc/The
2.31%,
04/23/2032
(f)
245‌
219‌
Secured
Overnight
Financing
Rate
+
0.98%
2.55%,
01/22/2030
495‌
462‌
3.45%,
04/23/2029
175‌
171‌
4.08%,
01/26/2029
(f)
150‌
149‌
Secured
Overnight
Financing
Rate
+
0.61%
4.62%,
10/26/2029
(f)
150‌
150‌
Secured
Overnight
Financing
Rate
+
0.68%
4.63%,
06/06/2033
(f)
160‌
155‌
Secured
Overnight
Financing
Rate
+
1.85%
4.90%,
05/13/2031
(f)
200‌
202‌
Secured
Overnight
Financing
Rate
+
1.33%
5.22%,
01/29/2031
(f)
295‌
300‌
Secured
Overnight
Financing
Rate
+
1.07%
5.35%,
12/02/2028
(f)
410‌
416‌
Secured
Overnight
Financing
Rate
+
1.62%
5.37%,
07/21/2036
(f)
220‌
222‌
Secured
Overnight
Financing
Rate
+
1.42%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
PNC
Financial
Services
Group
Inc/The
(continued)
5.40%,
07/23/2035
(f)
$
285‌
$
289‌
Secured
Overnight
Financing
Rate
+
1.60%
5.42%,
01/25/2041
(f)
150‌
147‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.17%
5.68%,
01/22/2035
(f)
240‌
248‌
Secured
Overnight
Financing
Rate
+
1.90%
5.94%,
08/18/2034
(f)
315‌
332‌
Secured
Overnight
Financing
Rate
+
1.95%
Royal
Bank
of
Canada
3.88%,
05/04/2032
145‌
139‌
4.00%,
11/03/2028
(f)
160‌
159‌
Secured
Overnight
Financing
Rate
+
0.70%
4.31%,
11/03/2031
(f)
160‌
157‌
Secured
Overnight
Financing
Rate
+
0.98%
4.50%,
08/06/2029
(f)
155‌
155‌
Secured
Overnight
Financing
Rate
+
0.89%
4.61%,
05/03/2032
(f)
165‌
164‌
Secured
Overnight
Financing
Rate
+
1.01%
4.65%,
10/18/2030
(f)
200‌
200‌
Secured
Overnight
Financing
Rate
+
1.08%
4.90%,
01/12/2028
165‌
167‌
4.95%,
02/01/2029
235‌
239‌
4.97%,
01/24/2029
(f)
215‌
217‌
Secured
Overnight
Financing
Rate
+
0.83%
4.97%,
05/02/2031
(f)
305‌
308‌
Secured
Overnight
Financing
Rate
+
1.13%
5.00%,
05/02/2033
175‌
177‌
5.15%,
02/04/2031
(f)
215‌
218‌
Secured
Overnight
Financing
Rate
+
1.03%
6.00%,
11/01/2027
155‌
159‌
Santander
Holdings
USA
Inc
5.35%,
09/06/2030
(f)
325‌
328‌
Secured
Overnight
Financing
Rate
+
1.94%
5.47%,
03/20/2029
(f)
155‌
157‌
Secured
Overnight
Financing
Rate
+
1.61%
Santander
UK
Group
Holdings
PLC
4.32%,
09/22/2029
(f)
315‌
312‌
Secured
Overnight
Financing
Rate
+
1.07%
State
Street
Corp
2.20%,
03/03/2031
60‌
54‌
4.33%,
10/22/2027
215‌
216‌
4.42%,
05/13/2033
(f)
135‌
132‌
Secured
Overnight
Financing
Rate
+
1.61%
4.53%,
02/20/2029
(f)
310‌
311‌
Secured
Overnight
Financing
Rate
+
1.02%
4.54%,
02/28/2028
150‌
151‌
4.68%,
10/22/2032
(f)
135‌
135‌
Secured
Overnight
Financing
Rate
+
1.05%
4.78%,
10/23/2036
(f)
95‌
93‌
Secured
Overnight
Financing
Rate
+
1.22%
4.82%,
01/26/2034
(f)
245‌
244‌
Secured
Overnight
Financing
Rate
+
1.57%
4.83%,
04/24/2030
305‌
309‌
5.15%,
02/28/2036
(f)
150‌
151‌
Secured
Overnight
Financing
Rate
+
1.22%
5.68%,
11/21/2029
(f)
140‌
144‌
Secured
Overnight
Financing
Rate
+
1.48%
Sumitomo
Mitsui
Financial
Group
Inc
2.13%,
07/08/2030
200‌
181‌
2.14%,
09/23/2030
150‌
134‌
2.93%,
09/17/2041
60‌
44‌
3.04%,
07/16/2029
200‌
191‌
3.36%,
07/12/2027
200‌
198‌
4.11%,
01/15/2029
200‌
198‌
4.66%,
07/08/2031
(f)
300‌
299‌
Secured
Overnight
Financing
Rate
+
1.19%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
12
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Sumitomo
Mitsui
Financial
Group
Inc
(continued)
5.05%,
01/15/2037
(f)
$
325‌
$
321‌
Secured
Overnight
Financing
Rate
+
1.22%
5.24%,
04/15/2030
225‌
229‌
5.32%,
07/09/2029
(a)
260‌
265‌
5.42%,
07/09/2031
200‌
205‌
5.52%,
01/13/2028
410‌
417‌
5.63%,
01/15/2035
225‌
233‌
5.77%,
01/13/2033
400‌
418‌
5.80%,
07/13/2028
315‌
323‌
5.80%,
07/08/2046
(f)
245‌
242‌
Secured
Overnight
Financing
Rate
+
1.78%
5.81%,
09/14/2033
235‌
246‌
6.18%,
07/13/2043
160‌
170‌
Toronto-Dominion
Bank/The
2.00%,
09/10/2031
(a)
400‌
354‌
3.20%,
03/10/2032
65‌
60‌
3.91%,
01/13/2028
145‌
144‌
4.11%,
06/08/2027
30‌
30‌
4.46%,
06/08/2032
70‌
69‌
4.57%,
06/02/2028
305‌
306‌
4.69%,
09/15/2027
330‌
332‌
4.78%,
12/17/2029
340‌
343‌
4.81%,
06/03/2030
155‌
156‌
4.87%,
04/22/2033
150‌
149‌
4.93%,
10/15/2035
155‌
152‌
4.99%,
04/05/2029
250‌
253‌
5.30%,
01/30/2032
330‌
338‌
5.52%,
07/17/2028
160‌
164‌
Truist
Bank
2.25%,
03/11/2030
500‌
456‌
Truist
Financial
Corp
1.89%,
06/07/2029
(f)
130‌
123‌
Secured
Overnight
Financing
Rate
+
0.86%
1.95%,
06/05/2030
380‌
344‌
4.12%,
06/06/2028
(f)
290‌
289‌
Secured
Overnight
Financing
Rate
+
1.37%
4.68%,
04/23/2032
(f)
150‌
148‌
Secured
Overnight
Financing
Rate
+
1.09%
4.87%,
01/26/2029
(f)
160‌
161‌
Secured
Overnight
Financing
Rate
+
1.44%
4.96%,
10/23/2036
(f)
310‌
301‌
Secured
Overnight
Financing
Rate
+
1.40%
5.07%,
05/20/2031
(f)
155‌
157‌
Secured
Overnight
Financing
Rate
+
1.31%
5.12%,
01/26/2034
(f)
160‌
160‌
Secured
Overnight
Financing
Rate
+
1.85%
5.15%,
08/05/2032
(f)
290‌
293‌
Secured
Overnight
Financing
Rate
+
1.57%
5.44%,
01/24/2030
(f)
65‌
66‌
Secured
Overnight
Financing
Rate
+
1.62%
5.71%,
01/24/2035
(f)
245‌
252‌
Secured
Overnight
Financing
Rate
+
1.92%
5.87%,
06/08/2034
(f)
160‌
167‌
Secured
Overnight
Financing
Rate
+
2.36%
UBS
AG/Stamford
CT
4.63%,
02/16/2032
(f)
325‌
324‌
Secured
Overnight
Financing
Rate
+
1.11%
4.68%,
11/29/2030
(f)
250‌
251‌
Secured
Overnight
Financing
Rate
+
0.74%
UBS
Group
AG
4.88%,
05/15/2045
400‌
363‌
US
Bancorp
1.38%,
07/22/2030
110‌
97‌
2.49%,
11/03/2036
(f)
400‌
348‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
0.95%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
US
Bancorp
(continued)
4.48%,
01/26/2032
(f)
$
350‌
$
345‌
Secured
Overnight
Financing
Rate
+
0.87%
4.65%,
02/01/2029
(f)
285‌
286‌
Secured
Overnight
Financing
Rate
+
1.23%
4.84%,
02/01/2034
(f)
285‌
282‌
Secured
Overnight
Financing
Rate
+
1.60%
5.05%,
02/12/2031
(f)
285‌
289‌
Secured
Overnight
Financing
Rate
+
1.06%
5.08%,
05/15/2031
(f)
105‌
106‌
Secured
Overnight
Financing
Rate
+
1.30%
5.38%,
01/23/2030
(f)
55‌
56‌
Secured
Overnight
Financing
Rate
+
1.56%
5.68%,
01/23/2035
(f)
240‌
248‌
Secured
Overnight
Financing
Rate
+
1.86%
5.84%,
06/12/2034
(f)
320‌
334‌
Secured
Overnight
Financing
Rate
+
2.26%
5.85%,
10/21/2033
(f)
155‌
162‌
Secured
Overnight
Financing
Rate
+
2.09%
Wells
Fargo
&
Co
2.39%,
06/02/2028
(f)
220‌
216‌
Secured
Overnight
Financing
Rate
+
2.10%
2.57%,
02/11/2031
(f)
475‌
441‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.26%
2.88%,
10/30/2030
(f)
250‌
236‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.43%
3.07%,
04/30/2041
(f)
485‌
369‌
Secured
Overnight
Financing
Rate
+
2.53%
3.35%,
03/02/2033
(f)
430‌
396‌
Secured
Overnight
Financing
Rate
+
1.50%
4.08%,
09/15/2029
(f)
375‌
371‌
Secured
Overnight
Financing
Rate
+
0.88%
4.15%,
01/24/2029
400‌
397‌
4.40%,
06/14/2046
110‌
90‌
4.61%,
04/25/2053
(f)
335‌
282‌
Secured
Overnight
Financing
Rate
+
2.13%
4.65%,
11/04/2044
600‌
511‌
4.75%,
12/07/2046
250‌
213‌
4.81%,
07/25/2028
(f)
315‌
316‌
Secured
Overnight
Financing
Rate
+
1.98%
4.84%,
05/20/2032
(f)
160‌
160‌
Secured
Overnight
Financing
Rate
+
0.97%
4.89%,
09/15/2036
(f)
255‌
249‌
Secured
Overnight
Financing
Rate
+
1.34%
4.90%,
07/25/2033
(f)
485‌
483‌
Secured
Overnight
Financing
Rate
+
2.10%
4.90%,
11/17/2045
75‌
66‌
4.96%,
01/23/2037
(f)
145‌
142‌
Secured
Overnight
Financing
Rate
+
1.10%
4.97%,
04/23/2029
(f)
155‌
156‌
Secured
Overnight
Financing
Rate
+
1.37%
5.01%,
04/04/2051
(f)
440‌
395‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
4.50%
5.15%,
04/23/2031
(f)
595‌
604‌
Secured
Overnight
Financing
Rate
+
1.50%
5.20%,
01/23/2030
(f)
265‌
269‌
Secured
Overnight
Financing
Rate
+
1.50%
5.21%,
12/03/2035
(f)
280‌
280‌
Secured
Overnight
Financing
Rate
+
1.38%
5.24%,
01/24/2031
(f)
200‌
203‌
Secured
Overnight
Financing
Rate
+
1.11%
5.38%,
11/02/2043
185‌
174‌
5.39%,
04/24/2034
(f)
375‌
382‌
Secured
Overnight
Financing
Rate
+
2.02%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
13
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Wells
Fargo
&
Co
(continued)
5.43%,
01/23/2047
(f)
$
295‌
$
283‌
Secured
Overnight
Financing
Rate
+
1.23%
5.50%,
01/23/2035
(f)
265‌
271‌
Secured
Overnight
Financing
Rate
+
1.78%
5.56%,
07/25/2034
(f)
475‌
489‌
Secured
Overnight
Financing
Rate
+
1.99%
5.57%,
07/25/2029
(f)
475‌
484‌
Secured
Overnight
Financing
Rate
+
1.74%
5.61%,
04/23/2036
(f)
330‌
339‌
Secured
Overnight
Financing
Rate
+
1.74%
5.61%,
01/15/2044
250‌
241‌
6.30%,
10/23/2029
(f)
320‌
332‌
Secured
Overnight
Financing
Rate
+
1.79%
6.49%,
10/23/2034
(f)
320‌
346‌
Secured
Overnight
Financing
Rate
+
2.06%
Westpac
Banking
Corp
2.65%,
01/16/2030
220‌
207‌
3.02%,
11/18/2036
(f)
405‌
363‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.53%
3.13%,
11/18/2041
60‌
44‌
4.11%,
07/24/2034
(f)
555‌
542‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.00%
4.35%,
07/01/2030
425‌
425‌
5.05%,
04/16/2029
340‌
347‌
$
157,758‌
Beverages
-
0
.44
%
Anheuser-Busch
Cos
LLC
/
Anheuser-Busch
InBev
Worldwide
Inc
4.70%,
02/01/2036
575‌
560‌
4.90%,
02/01/2046
992‌
907‌
Anheuser-Busch
InBev
Worldwide
Inc
3.50%,
06/01/2030
130‌
126‌
4.75%,
01/23/2029
550‌
555‌
4.95%,
01/15/2042
210‌
198‌
5.00%,
06/15/2034
125‌
126‌
5.45%,
01/23/2039
225‌
230‌
5.55%,
01/23/2049
570‌
562‌
5.80%,
01/23/2059
325‌
331‌
8.20%,
01/15/2039
60‌
76‌
Coca-Cola
Co/The
1.50%,
03/05/2028
60‌
57‌
2.50%,
06/01/2040
140‌
103‌
2.50%,
03/15/2051
265‌
158‌
2.60%,
06/01/2050
140‌
86‌
2.88%,
05/05/2041
60‌
46‌
3.00%,
03/05/2051
465‌
309‌
4.65%,
08/14/2034
325‌
326‌
5.00%,
05/13/2034
455‌
468‌
5.20%,
01/14/2055
280‌
266‌
5.30%,
05/13/2054
455‌
440‌
Constellation
Brands
Inc
2.25%,
08/01/2031
290‌
256‌
3.15%,
08/01/2029
90‌
86‌
4.85%,
05/06/2031
150‌
150‌
4.90%,
05/01/2033
250‌
248‌
4.95%,
11/01/2035
155‌
151‌
Diageo
Capital
PLC
2.38%,
10/24/2029
200‌
187‌
5.30%,
10/24/2027
310‌
314‌
5.63%,
10/05/2033
400‌
417‌
Keurig
Dr
Pepper
Inc
2.25%,
03/15/2031
60‌
53‌
3.35%,
03/15/2051
60‌
39‌
3.95%,
04/15/2029
735‌
722‌
4.05%,
04/15/2032
210‌
200‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Beverages
(continued)
Keurig
Dr
Pepper
Inc
(continued)
4.35%,
05/15/2028
$
175‌
$
175‌
4.50%,
04/15/2052
270‌
215‌
5.15%,
05/15/2035
155‌
153‌
Molson
Coors
Beverage
Co
4.20%,
07/15/2046
515‌
413‌
PepsiCo
Inc
2.63%,
10/21/2041
725‌
521‌
2.75%,
10/21/2051
225‌
140‌
2.88%,
10/15/2049
145‌
94‌
3.00%,
10/15/2027
600‌
592‌
4.30%,
07/23/2030
(a)
155‌
155‌
4.45%,
02/07/2028
545‌
547‌
4.50%,
07/17/2029
345‌
347‌
4.65%,
07/23/2032
155‌
156‌
4.80%,
07/17/2034
345‌
347‌
5.00%,
02/07/2035
(a)
315‌
318‌
$
12,926‌
Biotechnology
-
0
.29
%
Amgen
Inc
1.65%,
08/15/2028
125‌
118‌
2.00%,
01/15/2032
120‌
104‌
2.45%,
02/21/2030
155‌
144‌
2.77%,
09/01/2053
510‌
304‌
3.00%,
02/22/2029
200‌
193‌
3.00%,
01/15/2052
120‌
78‌
3.15%,
02/21/2040
155‌
121‌
3.38%,
02/21/2050
545‌
385‌
4.20%,
02/19/2031
160‌
157‌
4.20%,
03/01/2033
80‌
77‌
4.20%,
02/22/2052
200‌
157‌
4.40%,
05/01/2045
265‌
224‌
4.66%,
06/15/2051
410‌
348‌
4.88%,
03/01/2053
80‌
70‌
5.15%,
03/02/2028
380‌
385‌
5.15%,
11/15/2041
113‌
108‌
5.25%,
03/02/2030
335‌
342‌
5.25%,
03/02/2033
350‌
357‌
5.50%,
02/19/2046
160‌
155‌
5.60%,
03/02/2043
320‌
318‌
5.65%,
03/02/2053
390‌
379‌
5.75%,
03/02/2063
240‌
233‌
Biogen
Inc
5.20%,
09/15/2045
280‌
258‌
Gilead
Sciences
Inc
1.65%,
10/01/2030
150‌
133‌
2.80%,
10/01/2050
150‌
95‌
4.15%,
03/01/2047
25‌
20‌
4.25%,
05/20/2028
150‌
150‌
4.40%,
05/20/2029
150‌
150‌
4.50%,
02/01/2045
500‌
436‌
4.75%,
03/01/2046
580‌
521‌
5.10%,
06/15/2035
140‌
141‌
5.25%,
10/15/2033
160‌
165‌
5.50%,
11/15/2054
340‌
333‌
5.55%,
10/15/2053
160‌
158‌
Regeneron
Pharmaceuticals
Inc
1.75%,
09/15/2030
160‌
142‌
Royalty
Pharma
PLC
1.75%,
09/02/2027
655‌
634‌
2.20%,
09/02/2030
155‌
140‌
3.30%,
09/02/2040
155‌
120‌
5.95%,
09/25/2055
155‌
155‌
$
8,508‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
14
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Building
Materials
-
0
.14
%
Carrier
Global
Corp
2.72%,
02/15/2030
$
420‌
$
393‌
3.38%,
04/05/2040
155‌
124‌
3.58%,
04/05/2050
155‌
113‌
5.90%,
03/15/2034
116‌
122‌
6.20%,
03/15/2054
28‌
30‌
CRH
America
Finance
Inc
4.40%,
02/09/2031
295‌
291‌
5.50%,
01/09/2035
285‌
291‌
5.60%,
02/09/2056
155‌
151‌
Johnson
Controls
International
PLC
/
Tyco
Fire
&
Security
Finance
SCA
2.00%,
09/16/2031
370‌
324‌
Martin
Marietta
Materials
Inc
2.50%,
03/15/2030
330‌
305‌
3.20%,
07/15/2051
60‌
40‌
5.15%,
12/01/2034
140‌
141‌
Masco
Corp
1.50%,
02/15/2028
260‌
248‌
Owens
Corning
4.30%,
07/15/2047
150‌
121‌
5.50%,
06/15/2027
130‌
132‌
5.70%,
06/15/2034
290‌
300‌
Trane
Technologies
Financing
Ltd
3.80%,
03/21/2029
90‌
89‌
5.10%,
06/13/2034
380‌
385‌
Vulcan
Materials
Co
3.50%,
06/01/2030
295‌
283‌
5.35%,
12/01/2034
275‌
280‌
$
4,163‌
Chemicals
-
0
.25
%
Air
Products
and
Chemicals
Inc
2.80%,
05/15/2050
300‌
188‌
4.60%,
02/08/2029
130‌
131‌
4.80%,
03/03/2033
160‌
161‌
4.90%,
10/11/2032
210‌
212‌
Dow
Chemical
Co/The
2.10%,
11/15/2030
160‌
142‌
3.60%,
11/15/2050
160‌
106‌
4.38%,
11/15/2042
350‌
284‌
4.63%,
10/01/2044
270‌
221‌
4.80%,
11/30/2028
90‌
90‌
4.80%,
05/15/2049
340‌
273‌
5.15%,
02/15/2034
130‌
128‌
5.65%,
03/15/2036
(a)
155‌
155‌
DuPont
de
Nemours
Inc
4.73%,
11/15/2028
(e)
302‌
303‌
Eastman
Chemical
Co
4.65%,
10/15/2044
415‌
354‌
Ecolab
Inc
1.30%,
01/30/2031
380‌
328‌
2.75%,
08/18/2055
700‌
417‌
4.30%,
06/15/2028
60‌
60‌
4.60%,
06/15/2029
150‌
151‌
5.00%,
09/01/2035
210‌
210‌
5.15%,
06/15/2033
150‌
152‌
LYB
International
Finance
BV
5.25%,
07/15/2043
225‌
199‌
LYB
International
Finance
III
LLC
2.25%,
10/01/2030
365‌
327‌
3.63%,
04/01/2051
130‌
86‌
4.20%,
10/15/2049
160‌
117‌
5.63%,
05/15/2033
160‌
162‌
Mosaic
Co/The
5.63%,
11/15/2043
25‌
24‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Chemicals
(continued)
Nutrien
Ltd
4.20%,
04/01/2029
$
400‌
$
397‌
5.00%,
04/01/2049
280‌
250‌
5.40%,
06/21/2034
300‌
306‌
5.80%,
03/27/2053
330‌
328‌
Sherwin-Williams
Co/The
2.20%,
03/15/2032
250‌
218‌
2.95%,
08/15/2029
300‌
286‌
3.30%,
05/15/2050
90‌
61‌
4.30%,
08/15/2028
310‌
309‌
4.50%,
06/01/2047
390‌
328‌
Westlake
Corp
3.13%,
08/15/2051
60‌
37‌
$
7,501‌
Commercial
Mortgage
Backed
Securities
-
0
.02
%
Fannie
Mae-Aces
2.98%,
12/25/2027
(i)
585‌
575‌
Commercial
Services
-
0
.14
%
American
University/The
3.67%,
04/01/2049
35‌
26‌
Global
Payments
Inc
3.20%,
08/15/2029
140‌
132‌
4.15%,
08/15/2049
70‌
51‌
4.50%,
11/15/2028
145‌
144‌
4.88%,
11/15/2030
280‌
276‌
5.20%,
11/15/2032
285‌
280‌
5.55%,
11/15/2035
145‌
141‌
Leland
Stanford
Junior
University/The
3.65%,
05/01/2048
420‌
326‌
Massachusetts
Institute
of
Technology
3.96%,
07/01/2038
185‌
169‌
4.68%,
07/01/2114
100‌
83‌
Moody's
Corp
4.25%,
08/08/2032
65‌
63‌
5.00%,
08/05/2034
290‌
291‌
5.25%,
07/15/2044
90‌
85‌
PayPal
Holdings
Inc
2.85%,
10/01/2029
755‌
714‌
3.90%,
06/01/2027
(a)
65‌
65‌
4.40%,
06/01/2032
265‌
258‌
5.50%,
06/01/2054
130‌
120‌
S&P
Global
Inc
1.25%,
08/15/2030
280‌
245‌
2.50%,
12/01/2029
55‌
52‌
3.25%,
12/01/2049
305‌
211‌
3.70%,
03/01/2052
100‌
74‌
5.25%,
09/15/2033
335‌
344‌
TR
Finance
LLC
5.85%,
04/15/2040
30‌
30‌
University
of
Southern
California
5.25%,
10/01/2111
20‌
18‌
$
4,198‌
Computers
-
0
.50
%
Apple
Inc
1.20%,
02/08/2028
430‌
410‌
1.25%,
08/20/2030
360‌
319‌
1.65%,
05/11/2030
550‌
499‌
2.40%,
08/20/2050
210‌
123‌
2.55%,
08/20/2060
620‌
339‌
2.65%,
05/11/2050
600‌
372‌
2.65%,
02/08/2051
240‌
147‌
2.70%,
08/05/2051
85‌
53‌
2.80%,
02/08/2061
550‌
318‌
2.90%,
09/12/2027
300‌
296‌
2.95%,
09/11/2049
140‌
93‌
3.00%,
06/20/2027
500‌
495‌
3.35%,
08/08/2032
500‌
475‌
3.75%,
11/13/2047
195‌
152‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
15
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Computers
(continued)
Apple
Inc
(continued)
3.85%,
05/04/2043
$
400‌
$
333‌
3.95%,
08/08/2052
235‌
184‌
4.20%,
05/12/2030
(a)
155‌
155‌
4.38%,
05/13/2045
305‌
268‌
4.50%,
05/12/2032
155‌
157‌
4.65%,
02/23/2046
375‌
339‌
4.75%,
05/12/2035
155‌
157‌
4.85%,
05/10/2053
320‌
297‌
Dell
International
LLC
/
EMC
Corp
3.38%,
12/15/2041
310‌
238‌
3.45%,
12/15/2051
346‌
242‌
4.35%,
02/01/2030
535‌
530‌
4.50%,
02/15/2031
200‌
198‌
4.75%,
04/01/2028
100‌
101‌
5.10%,
02/15/2036
200‌
199‌
5.25%,
02/01/2028
160‌
162‌
5.30%,
10/01/2029
300‌
306‌
5.30%,
04/01/2032
150‌
153‌
5.40%,
04/15/2034
185‌
189‌
8.35%,
07/15/2046
26‌
33‌
Hewlett
Packard
Enterprise
Co
4.05%,
09/15/2027
155‌
154‌
4.55%,
10/15/2029
535‌
534‌
4.85%,
10/15/2031
205‌
205‌
5.00%,
10/15/2034
470‌
461‌
6.20%,
10/15/2035
(a)
75‌
81‌
6.35%,
10/15/2045
340‌
349‌
HP
Inc
3.00%,
06/17/2027
140‌
138‌
4.75%,
01/15/2028
495‌
497‌
6.00%,
09/15/2041
355‌
364‌
6.10%,
04/25/2035
150‌
158‌
IBM
International
Capital
Pte
Ltd
4.75%,
02/05/2031
(a)
265‌
266‌
4.90%,
02/05/2034
265‌
263‌
International
Business
Machines
Corp
3.50%,
05/15/2029
410‌
400‌
4.00%,
06/20/2042
110‌
91‌
4.15%,
05/15/2039
195‌
171‌
4.25%,
05/15/2049
600‌
472‌
4.40%,
07/27/2032
100‌
98‌
4.50%,
02/06/2028
370‌
371‌
4.60%,
02/03/2033
200‌
197‌
4.65%,
02/10/2028
285‌
287‌
4.70%,
02/19/2046
145‌
125‌
5.10%,
02/06/2053
(a)
160‌
143‌
5.70%,
02/10/2055
245‌
235‌
5.80%,
02/03/2056
165‌
161‌
NetApp
Inc
2.38%,
06/22/2027
155‌
152‌
$
14,705‌
Consumer
Products
-
0
.03
%
Church
&
Dwight
Co
Inc
3.95%,
08/01/2047
200‌
158‌
Clorox
Co/The
1.80%,
05/15/2030
350‌
314‌
Kimberly-Clark
Corp
5.30%,
03/01/2041
300‌
302‌
$
774‌
Cosmetics
&
Personal
Care
-
0
.15
%
Colgate-Palmolive
Co
4.20%,
05/01/2030
330‌
331‌
4.60%,
03/01/2028
160‌
161‌
Estee
Lauder
Cos
Inc/The
1.95%,
03/15/2031
125‌
111‌
2.38%,
12/01/2029
235‌
219‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Cosmetics
&
Personal
Care
(continued)
Haleon
US
Capital
LLC
3.63%,
03/24/2032
$
250‌
$
235‌
4.00%,
03/24/2052
250‌
194‌
Kenvue
Inc
4.85%,
05/22/2032
155‌
156‌
4.90%,
03/22/2033
160‌
161‌
5.05%,
03/22/2028
160‌
162‌
5.05%,
03/22/2053
330‌
301‌
5.10%,
03/22/2043
160‌
153‌
Procter
&
Gamble
Co/The
1.20%,
10/29/2030
435‌
381‌
3.55%,
03/25/2040
400‌
342‌
4.05%,
05/01/2030
175‌
174‌
4.10%,
11/03/2032
(a)
155‌
152‌
4.60%,
05/01/2035
155‌
154‌
Unilever
Capital
Corp
1.38%,
09/14/2030
150‌
133‌
1.75%,
08/12/2031
680‌
595‌
4.63%,
08/12/2034
320‌
316‌
$
4,431‌
Diversified
Financial
Services
-
0
.74
%
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust
3.00%,
10/29/2028
600‌
578‌
3.30%,
01/30/2032
375‌
343‌
3.40%,
10/29/2033
150‌
134‌
3.88%,
01/23/2028
250‌
247‌
4.13%,
02/28/2029
150‌
148‌
4.38%,
11/15/2030
150‌
147‌
4.75%,
01/15/2033
200‌
196‌
4.88%,
04/01/2028
165‌
166‌
4.95%,
09/10/2034
330‌
322‌
5.10%,
01/19/2029
150‌
152‌
5.38%,
12/15/2031
365‌
372‌
Ally
Financial
Inc
2.20%,
11/02/2028
60‌
57‌
4.75%,
06/09/2027
160‌
161‌
5.55%,
07/31/2033
(f)
155‌
154‌
Secured
Overnight
Financing
Rate
+
1.78%
5.74%,
05/15/2029
(f)
170‌
173‌
Secured
Overnight
Financing
Rate
+
1.96%
8.00%,
11/01/2031
420‌
469‌
American
Express
Co
4.05%,
05/03/2029
100‌
99‌
4.05%,
12/03/2042
440‌
370‌
4.44%,
05/03/2030
(f)
150‌
149‌
Secured
Overnight
Financing
Rate
+
0.81%
4.46%,
02/10/2032
(f)
150‌
148‌
Secured
Overnight
Financing
Rate
+
0.87%
4.73%,
04/25/2029
(f)
305‌
307‌
Secured
Overnight
Financing
Rate
+
1.26%
4.80%,
10/24/2036
(f)
155‌
150‌
Secured
Overnight
Financing
Rate
+
1.24%
4.92%,
07/20/2033
(f)
305‌
305‌
Secured
Overnight
Financing
Rate
+
1.22%
5.09%,
01/30/2031
(f)
215‌
218‌
Secured
Overnight
Financing
Rate
+
1.02%
5.28%,
07/27/2029
(f)
160‌
163‌
Secured
Overnight
Financing
Rate
+
1.28%
5.28%,
07/26/2035
(f)
345‌
349‌
Secured
Overnight
Financing
Rate
+
1.42%
5.41%,
02/08/2041
(f)
150‌
150‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.15%
5.53%,
04/25/2030
(f)
250‌
256‌
Secured
Overnight
Financing
Rate
+
1.09%
5.67%,
04/25/2036
(f)
155‌
161‌
Secured
Overnight
Financing
Rate
+
1.79%
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
16
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Diversified
Financial
Services
(continued)
American
Express
Co
(continued)
6.49%,
10/30/2031
(f)
$
70‌
$
75‌
Secured
Overnight
Financing
Rate
+
1.94%
BlackRock
Funding
Inc
4.90%,
01/08/2035
260‌
261‌
5.35%,
01/08/2055
430‌
413‌
Blackrock
Inc
2.10%,
02/25/2032
415‌
365‌
2.40%,
04/30/2030
200‌
186‌
Capital
One
Financial
Corp
2.36%,
07/29/2032
(f)
255‌
220‌
Secured
Overnight
Financing
Rate
+
1.34%
4.49%,
09/11/2031
(f)
300‌
295‌
Secured
Overnight
Financing
Rate
+
1.25%
5.20%,
09/11/2036
(f)
255‌
248‌
Secured
Overnight
Financing
Rate
+
1.63%
5.46%,
07/26/2030
(f)
140‌
143‌
Secured
Overnight
Financing
Rate
+
1.56%
5.70%,
02/01/2030
(f)
135‌
138‌
Secured
Overnight
Financing
Rate
+
1.91%
5.82%,
02/01/2034
(f)
160‌
165‌
Secured
Overnight
Financing
Rate
+
2.60%
5.88%,
07/26/2035
(f)
140‌
144‌
Secured
Overnight
Financing
Rate
+
1.99%
6.05%,
02/01/2035
(f)
245‌
254‌
Secured
Overnight
Financing
Rate
+
2.26%
6.18%,
01/30/2036
(f)
145‌
148‌
Secured
Overnight
Financing
Rate
+
2.04%
6.31%,
06/08/2029
(f)
360‌
371‌
Secured
Overnight
Financing
Rate
+
2.64%
7.62%,
10/30/2031
(f)
210‌
231‌
Secured
Overnight
Financing
Rate
+
3.07%
Charles
Schwab
Corp/The
1.65%,
03/11/2031
400‌
350‌
1.95%,
12/01/2031
270‌
235‌
2.00%,
03/20/2028
115‌
111‌
3.20%,
01/25/2028
200‌
197‌
4.74%,
05/21/2030
(f)
190‌
191‌
Secured
Overnight
Financing
Rate
+
0.78%
4.91%,
11/14/2036
(f)
335‌
326‌
Secured
Overnight
Financing
Rate
+
1.23%
5.64%,
05/19/2029
(f)
160‌
164‌
Secured
Overnight
Financing
Rate
+
2.21%
6.14%,
08/24/2034
(f)
155‌
165‌
Secured
Overnight
Financing
Rate
+
2.01%
6.20%,
11/17/2029
(f)
140‌
146‌
Secured
Overnight
Financing
Rate
+
1.88%
CME
Group
Inc
5.30%,
09/15/2043
200‌
199‌
Intercontinental
Exchange
Inc
1.85%,
09/15/2032
120‌
101‌
2.10%,
06/15/2030
400‌
364‌
2.65%,
09/15/2040
160‌
116‌
3.00%,
09/15/2060
160‌
94‌
3.75%,
09/21/2028
160‌
158‌
3.95%,
12/01/2028
145‌
143‌
4.00%,
09/15/2027
385‌
384‌
4.25%,
09/21/2048
250‌
206‌
4.60%,
03/15/2033
220‌
218‌
4.95%,
06/15/2052
215‌
195‌
Jefferies
Financial
Group
Inc
2.63%,
10/15/2031
200‌
175‌
2.75%,
10/15/2032
300‌
257‌
4.15%,
01/23/2030
225‌
218‌
5.13%,
04/28/2031
165‌
163‌
5.50%,
02/15/2036
145‌
141‌
Legg
Mason
Inc
5.63%,
01/15/2044
25‌
25‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Diversified
Financial
Services
(continued)
Mastercard
Inc
2.00%,
11/18/2031
$
190‌
$
168‌
2.95%,
03/15/2051
60‌
39‌
3.35%,
03/26/2030
445‌
429‌
3.85%,
03/26/2050
350‌
272‌
4.55%,
03/15/2028
145‌
146‌
4.55%,
01/15/2035
270‌
265‌
4.88%,
03/09/2028
160‌
162‌
Nasdaq
Inc
2.50%,
12/21/2040
55‌
39‌
5.35%,
06/28/2028
114‌
116‌
5.95%,
08/15/2053
295‌
301‌
Nomura
Holdings
Inc
2.68%,
07/16/2030
450‌
413‌
4.90%,
07/01/2030
(a)
200‌
200‌
5.84%,
01/18/2028
320‌
326‌
6.09%,
07/12/2033
315‌
333‌
Raymond
James
Financial
Inc
4.95%,
07/15/2046
380‌
342‌
Sumisho
Air
Lease
Corp
2.10%,
09/01/2028
385‌
364‌
2.88%,
01/15/2032
65‌
58‌
3.25%,
10/01/2029
200‌
190‌
5.10%,
03/01/2029
135‌
136‌
5.20%,
07/15/2031
130‌
131‌
Synchrony
Financial
3.95%,
12/01/2027
360‌
356‌
4.95%,
02/25/2032
(f)
150‌
146‌
Secured
Overnight
Financing
Rate
+
1.53%
5.02%,
07/29/2029
(f)
155‌
155‌
Secured
Overnight
Financing
Rate
+
1.40%
Visa
Inc
1.10%,
02/15/2031
60‌
52‌
2.00%,
08/15/2050
160‌
86‌
2.70%,
04/15/2040
155‌
118‌
2.75%,
09/15/2027
150‌
148‌
4.10%,
02/12/2031
150‌
149‌
4.15%,
12/14/2035
500‌
478‌
4.30%,
12/14/2045
400‌
345‌
4.70%,
02/12/2036
150‌
149‌
$
21,955‌
Electric
-
2
.21
%
AEP
Texas
Inc
2.10%,
07/01/2030
370‌
336‌
3.45%,
01/15/2050
50‌
34‌
3.45%,
05/15/2051
60‌
40‌
4.70%,
05/15/2032
105‌
104‌
5.25%,
05/15/2052
105‌
95‌
AEP
Transmission
Co
LLC
2.75%,
08/15/2051
60‌
37‌
4.00%,
12/01/2046
350‌
279‌
4.50%,
06/15/2052
70‌
58‌
5.25%,
06/01/2036
150‌
151‌
5.40%,
03/15/2053
360‌
344‌
AES
Corp/The
2.45%,
01/15/2031
360‌
323‌
Alabama
Power
Co
1.45%,
09/15/2030
375‌
330‌
3.13%,
07/15/2051
60‌
39‌
3.75%,
03/01/2045
235‌
182‌
4.30%,
03/15/2031
155‌
153‌
Ameren
Corp
1.75%,
03/15/2028
60‌
57‌
5.00%,
01/15/2029
130‌
132‌
5.00%,
05/15/2036
150‌
147‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
17
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
Ameren
Illinois
Co
1.55%,
11/15/2030
$
65‌
$
57‌
3.25%,
03/15/2050
75‌
51‌
3.85%,
09/01/2032
355‌
338‌
4.15%,
03/15/2046
330‌
269‌
5.63%,
03/01/2055
160‌
157‌
American
Electric
Power
Co
Inc
2.30%,
03/01/2030
155‌
143‌
5.63%,
03/01/2033
160‌
166‌
6.05%,
03/15/2056
(f)
420‌
416‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.94%
Arizona
Public
Service
Co
2.60%,
08/15/2029
290‌
273‌
2.65%,
09/15/2050
150‌
90‌
5.90%,
08/15/2055
185‌
185‌
Baltimore
Gas
and
Electric
Co
2.25%,
06/15/2031
310‌
277‌
4.55%,
06/01/2052
220‌
183‌
5.15%,
06/01/2033
150‌
151‌
5.45%,
06/01/2035
155‌
158‌
5.65%,
06/01/2054
130‌
127‌
Berkshire
Hathaway
Energy
Co
1.65%,
05/15/2031
365‌
316‌
2.85%,
05/15/2051
85‌
52‌
3.80%,
07/15/2048
325‌
244‌
4.60%,
05/01/2053
355‌
296‌
5.15%,
11/15/2043
(a)
200‌
190‌
6.13%,
04/01/2036
350‌
375‌
CenterPoint
Energy
Houston
Electric
LLC
3.35%,
04/01/2051
60‌
42‌
4.25%,
02/01/2049
(a)
250‌
203‌
4.85%,
04/01/2036
355‌
349‌
4.95%,
04/01/2033
160‌
161‌
4.95%,
08/15/2035
155‌
154‌
5.20%,
10/01/2028
160‌
163‌
CenterPoint
Energy
Inc
2.95%,
03/01/2030
88‌
83‌
CMS
Energy
Corp
3.75%,
12/01/2050
(f)
60‌
55‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.90%
Commonwealth
Edison
Co
3.00%,
03/01/2050
365‌
237‌
3.13%,
03/15/2051
420‌
276‌
4.00%,
03/01/2048
370‌
290‌
4.55%,
06/01/2031
(a)
150‌
150‌
5.30%,
06/01/2034
130‌
133‌
5.30%,
02/01/2053
160‌
150‌
5.65%,
06/01/2054
130‌
127‌
5.95%,
06/01/2055
60‌
61‌
Connecticut
Light
and
Power
Co/The
2.05%,
07/01/2031
60‌
53‌
4.00%,
04/01/2048
425‌
337‌
4.95%,
01/15/2030
300‌
304‌
Consolidated
Edison
Co
of
New
York
Inc
2.40%,
06/15/2031
305‌
275‌
3.00%,
12/01/2060
120‌
71‌
3.70%,
11/15/2059
80‌
55‌
3.88%,
06/15/2047
300‌
231‌
4.30%,
12/01/2056
250‌
196‌
5.20%,
03/01/2033
160‌
164‌
5.30%,
03/01/2035
300‌
306‌
5.75%,
11/15/2055
145‌
144‌
6.15%,
11/15/2052
155‌
162‌
6.30%,
08/15/2037
200‌
216‌
6.75%,
04/01/2038
160‌
180‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
Constellation
Energy
Generation
LLC
3.90%,
01/08/2028
$
295‌
$
293‌
4.55%,
06/01/2029
150‌
150‌
4.80%,
01/15/2032
150‌
149‌
5.30%,
06/01/2036
150‌
149‌
Consumers
Energy
Co
4.35%,
04/15/2049
300‌
248‌
4.50%,
01/15/2031
175‌
174‌
4.60%,
05/30/2029
135‌
136‌
4.70%,
01/15/2030
155‌
156‌
4.90%,
02/15/2029
155‌
157‌
5.05%,
05/15/2035
90‌
91‌
Dayton
Power
&
Light
Co/The
4.55%,
08/15/2030
50‌
49‌
Dominion
Energy
Inc
3.30%,
04/15/2041
60‌
45‌
3.38%,
04/01/2030
440‌
421‌
4.60%,
05/15/2028
280‌
281‌
4.90%,
08/01/2041
360‌
331‌
5.38%,
11/15/2032
410‌
421‌
5.45%,
03/15/2035
315‌
321‌
5.95%,
06/15/2035
200‌
212‌
DTE
Electric
Co
1.90%,
04/01/2028
40‌
38‌
2.63%,
03/01/2031
250‌
229‌
3.70%,
03/15/2045
200‌
156‌
5.20%,
03/01/2034
130‌
133‌
5.25%,
05/15/2035
155‌
157‌
5.40%,
04/01/2053
160‌
153‌
5.55%,
03/01/2056
295‌
288‌
DTE
Energy
Co
4.88%,
06/01/2028
105‌
106‌
4.95%,
07/01/2027
275‌
277‌
5.05%,
10/01/2035
155‌
153‌
5.20%,
04/01/2030
245‌
249‌
Duke
Energy
Carolinas
LLC
4.00%,
09/30/2042
145‌
120‌
4.95%,
01/15/2033
160‌
162‌
5.25%,
03/15/2035
345‌
351‌
5.30%,
02/15/2040
125‌
124‌
5.35%,
01/15/2053
160‌
151‌
5.40%,
01/15/2054
135‌
129‌
6.05%,
04/15/2038
230‌
245‌
Duke
Energy
Corp
3.15%,
08/15/2027
90‌
89‌
3.30%,
06/15/2041
60‌
46‌
3.50%,
06/15/2051
60‌
41‌
3.95%,
08/15/2047
150‌
114‌
4.20%,
06/15/2049
150‌
117‌
4.50%,
08/15/2032
340‌
335‌
4.80%,
12/15/2045
230‌
201‌
4.85%,
01/05/2029
135‌
136‌
4.95%,
09/15/2035
265‌
260‌
5.00%,
08/15/2052
240‌
209‌
5.45%,
06/15/2034
190‌
194‌
5.70%,
09/15/2055
205‌
197‌
5.80%,
06/15/2054
190‌
185‌
6.10%,
09/15/2053
160‌
162‌
Duke
Energy
Florida
LLC
1.75%,
06/15/2030
365‌
328‌
2.50%,
12/01/2029
255‌
239‌
3.40%,
10/01/2046
445‌
321‌
4.20%,
12/01/2030
305‌
301‌
5.88%,
11/15/2033
145‌
154‌
5.95%,
11/15/2052
155‌
158‌
6.40%,
06/15/2038
505‌
552‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
18
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
Duke
Energy
Indiana
LLC
2.75%,
04/01/2050
$
240‌
$
147‌
4.95%,
03/15/2036
40‌
39‌
5.40%,
04/01/2053
160‌
151‌
5.90%,
05/15/2055
155‌
157‌
Duke
Energy
Progress
LLC
2.50%,
08/15/2050
160‌
93‌
5.55%,
03/15/2055
150‌
146‌
Edison
International
5.00%,
05/05/2028
160‌
160‌
Emera
US
Finance
LP
4.75%,
06/15/2046
445‌
377‌
Entergy
Arkansas
LLC
2.65%,
06/15/2051
45‌
26‌
4.20%,
04/01/2049
300‌
239‌
4.95%,
01/15/2036
150‌
148‌
5.15%,
01/15/2033
160‌
163‌
Entergy
Corp
1.90%,
06/15/2028
35‌
33‌
2.40%,
06/15/2031
60‌
54‌
Entergy
Louisiana
LLC
2.90%,
03/15/2051
35‌
22‌
3.10%,
06/15/2041
60‌
45‌
3.12%,
09/01/2027
200‌
197‌
4.75%,
09/15/2052
415‌
356‌
5.15%,
09/15/2034
345‌
349‌
5.65%,
04/15/2056
150‌
146‌
5.80%,
03/15/2055
390‌
389‌
Entergy
Mississippi
LLC
5.05%,
04/15/2036
150‌
148‌
Entergy
Texas
Inc
1.75%,
03/15/2031
150‌
131‌
4.00%,
03/30/2029
170‌
168‌
5.20%,
06/15/2036
150‌
149‌
Evergy
Kansas
Central
Inc
5.25%,
03/15/2035
320‌
323‌
5.70%,
03/15/2053
160‌
158‌
Evergy
Metro
Inc
2.25%,
06/01/2030
155‌
142‌
5.13%,
08/15/2035
155‌
154‌
Eversource
Energy
1.65%,
08/15/2030
380‌
335‌
4.45%,
12/15/2030
155‌
153‌
5.13%,
05/15/2033
160‌
160‌
Exelon
Corp
3.35%,
03/15/2032
65‌
60‌
4.95%,
03/15/2036
150‌
146‌
5.13%,
03/15/2031
165‌
168‌
5.15%,
03/15/2029
125‌
127‌
6.50%,
03/15/2055
(f)
225‌
233‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.98%
FirstEnergy
Transmission
LLC
4.75%,
01/15/2033
155‌
153‌
Florida
Power
&
Light
Co
2.45%,
02/03/2032
65‌
58‌
2.88%,
12/04/2051
65‌
41‌
3.70%,
12/01/2047
70‌
53‌
4.05%,
10/01/2044
335‌
275‌
4.13%,
02/01/2042
300‌
256‌
4.40%,
05/15/2028
160‌
161‌
4.70%,
02/15/2036
445‌
433‌
4.80%,
05/15/2033
120‌
120‌
5.10%,
04/01/2033
160‌
163‌
5.30%,
06/15/2034
130‌
133‌
5.60%,
06/15/2054
130‌
128‌
5.65%,
02/01/2037
250‌
263‌
5.70%,
03/15/2055
145‌
144‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
Florida
Power
&
Light
Co
(continued)
5.75%,
06/01/2056
(g)
$
150‌
$
151‌
Georgia
Power
Co
4.30%,
03/15/2042
460‌
400‌
4.55%,
03/15/2030
340‌
340‌
4.60%,
06/15/2029
150‌
151‌
4.65%,
05/16/2028
160‌
161‌
4.70%,
05/15/2032
65‌
65‌
5.50%,
10/01/2055
(a)
160‌
155‌
Indiana
Michigan
Power
Co
5.60%,
03/15/2056
55‌
54‌
Interstate
Power
and
Light
Co
2.30%,
06/01/2030
40‌
37‌
4.10%,
09/26/2028
200‌
198‌
5.60%,
06/29/2035
160‌
165‌
5.60%,
10/01/2055
155‌
149‌
Jersey
Central
Power
&
Light
Co
4.40%,
01/15/2031
(e)
155‌
153‌
4.60%,
01/15/2030
(e)
150‌
150‌
Kentucky
Utilities
Co
3.30%,
06/01/2050
205‌
140‌
5.85%,
08/15/2055
205‌
206‌
MidAmerican
Energy
Co
3.15%,
04/15/2050
485‌
324‌
4.25%,
07/15/2049
215‌
174‌
5.30%,
02/01/2055
135‌
126‌
Mississippi
Power
Co
4.25%,
03/15/2042
30‌
25‌
Monongahela
Power
Co
4.45%,
08/15/2029
(e)
150‌
150‌
National
Rural
Utilities
Cooperative
Finance
Corp
4.05%,
02/09/2029
150‌
149‌
4.12%,
09/16/2027
135‌
135‌
4.15%,
08/25/2028
155‌
154‌
4.15%,
12/15/2032
365‌
354‌
4.40%,
05/11/2029
160‌
160‌
4.80%,
03/15/2028
365‌
368‌
5.00%,
02/07/2031
135‌
137‌
5.15%,
06/15/2029
130‌
133‌
Nevada
Power
Co
2.40%,
05/01/2030
200‌
184‌
NextEra
Energy
Capital
Holdings
Inc
1.90%,
06/15/2028
195‌
186‌
2.25%,
06/01/2030
500‌
456‌
2.75%,
11/01/2029
270‌
256‌
4.40%,
03/01/2031
150‌
148‌
4.69%,
09/01/2027
80‌
80‌
4.90%,
02/28/2028
160‌
161‌
4.90%,
03/15/2029
135‌
137‌
5.00%,
07/15/2032
70‌
71‌
5.05%,
03/15/2030
200‌
203‌
5.25%,
03/15/2034
135‌
137‌
5.25%,
02/28/2053
160‌
145‌
5.45%,
03/15/2035
375‌
382‌
5.90%,
03/15/2055
145‌
143‌
6.50%,
08/15/2055
(f)
285‌
295‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.98%
Northern
States
Power
Co/MN
2.25%,
04/01/2031
60‌
54‌
2.60%,
06/01/2051
97‌
59‌
2.90%,
03/01/2050
70‌
46‌
5.05%,
05/15/2035
175‌
176‌
5.10%,
05/15/2053
160‌
147‌
5.35%,
11/01/2039
30‌
30‌
5.65%,
05/15/2055
155‌
154‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
19
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
NSTAR
Electric
Co
4.55%,
06/01/2052
$
65‌
$
55‌
4.95%,
09/15/2052
290‌
259‌
5.20%,
03/01/2035
240‌
242‌
5.40%,
06/01/2034
130‌
133‌
Ohio
Power
Co
1.63%,
01/15/2031
265‌
232‌
Oncor
Electric
Delivery
Co
LLC
3.10%,
09/15/2049
500‌
330‌
3.75%,
04/01/2045
420‌
325‌
4.15%,
06/01/2032
65‌
63‌
4.30%,
05/15/2028
(a)
285‌
285‌
4.55%,
09/15/2032
195‌
192‌
4.60%,
06/01/2052
65‌
54‌
4.65%,
11/01/2029
140‌
141‌
5.55%,
06/15/2054
115‌
111‌
Pacific
Gas
and
Electric
Co
2.10%,
08/01/2027
605‌
588‌
2.50%,
02/01/2031
845‌
759‌
3.30%,
08/01/2040
155‌
116‌
3.50%,
08/01/2050
850‌
568‌
4.20%,
06/01/2041
195‌
160‌
5.05%,
10/15/2032
330‌
328‌
5.20%,
05/01/2036
150‌
146‌
5.70%,
03/01/2035
150‌
152‌
5.80%,
05/15/2034
125‌
128‌
5.90%,
06/15/2032
60‌
62‌
5.90%,
10/01/2054
135‌
128‌
6.10%,
01/15/2029
360‌
371‌
6.75%,
01/15/2053
160‌
168‌
PacifiCorp
2.90%,
06/15/2052
60‌
36‌
5.30%,
02/15/2031
265‌
270‌
5.35%,
12/01/2053
155‌
139‌
5.50%,
05/15/2054
160‌
147‌
6.00%,
01/15/2039
310‌
315‌
6.25%,
10/15/2037
330‌
347‌
PECO
Energy
Co
2.80%,
06/15/2050
110‌
68‌
2.85%,
09/15/2051
150‌
93‌
4.38%,
08/15/2052
360‌
293‌
4.60%,
05/15/2052
20‌
17‌
4.88%,
09/15/2035
335‌
333‌
PPL
Capital
Funding
Inc
5.25%,
09/01/2034
335‌
337‌
PPL
Electric
Utilities
Corp
3.00%,
10/01/2049
70‌
46‌
3.95%,
06/01/2047
100‌
79‌
4.85%,
02/15/2034
65‌
65‌
5.00%,
05/15/2033
160‌
161‌
Public
Service
Co
of
Colorado
1.88%,
06/15/2031
385‌
337‌
2.70%,
01/15/2051
95‌
57‌
3.20%,
03/01/2050
250‌
168‌
5.15%,
09/15/2035
355‌
354‌
5.25%,
04/01/2053
200‌
185‌
5.35%,
05/15/2034
195‌
198‌
5.85%,
05/15/2055
160‌
161‌
Public
Service
Co
of
New
Hampshire
4.40%,
07/01/2028
155‌
155‌
Public
Service
Co
of
Oklahoma
5.20%,
01/15/2035
235‌
235‌
5.25%,
01/15/2033
160‌
162‌
Public
Service
Electric
and
Gas
Co
3.15%,
01/01/2050
155‌
104‌
3.65%,
09/01/2028
200‌
197‌
3.80%,
03/01/2046
410‌
320‌
4.20%,
01/01/2031
150‌
148‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
Public
Service
Electric
and
Gas
Co
(continued)
4.85%,
08/01/2034
$
220‌
$
219‌
4.90%,
08/15/2035
265‌
264‌
5.30%,
08/01/2054
140‌
132‌
5.45%,
08/01/2053
155‌
150‌
Public
Service
Enterprise
Group
Inc
4.90%,
03/15/2030
75‌
76‌
5.88%,
10/15/2028
160‌
165‌
6.13%,
10/15/2033
160‌
170‌
Puget
Sound
Energy
Inc
2.89%,
09/15/2051
170‌
106‌
5.60%,
09/15/2055
155‌
151‌
San
Diego
Gas
&
Electric
Co
1.70%,
10/01/2030
840‌
746‌
3.32%,
04/15/2050
155‌
104‌
3.70%,
03/15/2052
65‌
47‌
4.50%,
08/15/2040
50‌
45‌
5.95%,
03/15/2056
165‌
167‌
Sempra
4.00%,
02/01/2048
70‌
53‌
6.55%,
04/01/2055
(f)
380‌
384‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.14%
Southern
California
Edison
Co
2.25%,
06/01/2030
365‌
330‌
2.85%,
08/01/2029
100‌
94‌
3.45%,
02/01/2052
65‌
43‌
3.65%,
02/01/2050
320‌
221‌
4.00%,
04/01/2047
450‌
336‌
4.70%,
06/01/2027
135‌
135‌
4.95%,
09/15/2031
150‌
150‌
5.25%,
03/15/2030
175‌
177‌
5.30%,
03/01/2028
160‌
162‌
5.45%,
06/01/2031
200‌
204‌
5.45%,
03/01/2035
215‌
215‌
5.50%,
03/15/2040
175‌
169‌
5.65%,
10/01/2028
160‌
163‌
5.70%,
03/01/2053
160‌
147‌
5.85%,
11/01/2027
155‌
158‌
5.90%,
03/01/2055
105‌
100‌
5.95%,
02/01/2038
30‌
30‌
Southern
Co/The
1.75%,
03/15/2028
60‌
57‌
4.40%,
07/01/2046
515‌
430‌
5.20%,
06/15/2033
160‌
162‌
5.50%,
03/15/2029
160‌
164‌
5.70%,
10/15/2032
335‌
349‌
5.70%,
03/15/2034
400‌
415‌
Southern
Power
Co
4.90%,
10/01/2035
345‌
336‌
4.95%,
12/15/2046
35‌
31‌
Southwestern
Electric
Power
Co
4.10%,
09/15/2028
250‌
248‌
Southwestern
Public
Service
Co
4.50%,
08/15/2041
150‌
133‌
6.00%,
06/01/2054
195‌
198‌
Tampa
Electric
Co
3.45%,
03/15/2051
100‌
70‌
Tucson
Electric
Power
Co
1.50%,
08/01/2030
105‌
93‌
3.25%,
05/01/2051
60‌
40‌
Union
Electric
Co
2.15%,
03/15/2032
60‌
53‌
2.63%,
03/15/2051
130‌
77‌
5.45%,
03/15/2053
160‌
153‌
5.55%,
03/15/2056
150‌
145‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
20
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
Virginia
Electric
and
Power
Co
2.30%,
11/15/2031
$
265‌
$
236‌
2.45%,
12/15/2050
145‌
83‌
2.95%,
11/15/2051
120‌
75‌
5.05%,
08/15/2034
340‌
341‌
5.45%,
04/01/2053
310‌
295‌
5.55%,
08/15/2054
150‌
145‌
5.60%,
09/15/2055
295‌
287‌
5.70%,
03/15/2056
295‌
291‌
8.88%,
11/15/2038
225‌
296‌
WEC
Energy
Group
Inc
1.38%,
10/15/2027
130‌
125‌
2.20%,
12/15/2028
60‌
57‌
Wisconsin
Electric
Power
Co
4.15%,
10/15/2030
160‌
158‌
4.75%,
09/30/2032
180‌
181‌
Wisconsin
Power
and
Light
Co
5.70%,
12/15/2055
160‌
156‌
Wisconsin
Public
Service
Corp
4.55%,
12/01/2029
290‌
291‌
Xcel
Energy
Inc
2.60%,
12/01/2029
140‌
131‌
4.60%,
06/01/2032
40‌
39‌
4.75%,
03/21/2028
155‌
156‌
5.75%,
12/03/2056
(f)
115‌
114‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.17%
$
65,361‌
Electrical
Components
&
Equipment
-
0
.01
%
Emerson
Electric
Co
2.20%,
12/21/2031
495‌
440‌
Electronics
-
0
.07
%
Amphenol
Corp
3.90%,
11/15/2028
155‌
153‌
4.13%,
11/15/2030
135‌
133‌
4.40%,
02/15/2033
155‌
151‌
5.00%,
01/15/2035
475‌
475‌
5.30%,
11/15/2055
155‌
147‌
Honeywell
International
Inc
1.75%,
09/01/2031
460‌
400‌
1.95%,
06/01/2030
450‌
408‌
3.81%,
11/21/2047
100‌
77‌
Tyco
Electronics
Group
SA
4.88%,
02/09/2036
145‌
143‌
7.13%,
10/01/2037
37‌
43‌
$
2,130‌
Environmental
Control
-
0
.16
%
Republic
Services
Inc
1.75%,
02/15/2032
335‌
287‌
2.30%,
03/01/2030
685‌
634‌
3.38%,
11/15/2027
385‌
381‌
5.00%,
11/15/2029
130‌
132‌
5.00%,
04/01/2034
320‌
323‌
5.15%,
03/15/2035
75‌
76‌
Waste
Connections
Inc
2.20%,
01/15/2032
120‌
105‌
4.20%,
01/15/2033
435‌
420‌
Waste
Management
Inc
2.00%,
06/01/2029
60‌
56‌
2.50%,
11/15/2050
75‌
45‌
3.15%,
11/15/2027
790‌
779‌
4.15%,
04/15/2032
100‌
98‌
4.63%,
02/15/2033
160‌
159‌
4.65%,
03/15/2030
(a)
310‌
312‌
4.88%,
02/15/2029
310‌
314‌
4.95%,
07/03/2031
130‌
132‌
4.95%,
03/15/2035
310‌
310‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Environmental
Control
(continued)
Waste
Management
Inc
(continued)
5.35%,
10/15/2054
$
240‌
$
231‌
$
4,794‌
Finance
-
Mortgage
Loan/Banker
-
0
.21
%
Fannie
Mae
0.75%,
10/08/2027
270‌
259‌
0.88%,
08/05/2030
510‌
447‌
5.63%,
07/15/2037
65‌
71‌
6.25%,
05/15/2029
750‌
795‌
6.63%,
11/15/2030
230‌
253‌
7.13%,
01/15/2030
250‌
275‌
7.25%,
05/15/2030
249‌
277‌
Federal
Home
Loan
Banks
3.25%,
11/16/2028
950‌
935‌
3.50%,
09/09/2027
230‌
229‌
3.50%,
10/04/2027
300‌
298‌
3.50%,
03/03/2028
290‌
288‌
3.88%,
06/04/2027
300‌
300‌
4.00%,
06/30/2028
400‌
400‌
5.50%,
07/15/2036
370‌
399‌
Freddie
Mac
6.25%,
07/15/2032
280‌
310‌
6.75%,
03/15/2031
543‌
604‌
$
6,140‌
Food
-
0
.34
%
Campbell's
Company/The
4.15%,
03/15/2028
185‌
183‌
Conagra
Brands
Inc
1.38%,
11/01/2027
100‌
96‌
4.85%,
11/01/2028
140‌
140‌
5.30%,
11/01/2038
85‌
80‌
5.40%,
11/01/2048
445‌
386‌
General
Mills
Inc
2.25%,
10/14/2031
(a)
775‌
683‌
4.88%,
01/30/2030
140‌
141‌
4.95%,
03/29/2033
160‌
159‌
5.50%,
10/17/2028
160‌
164‌
Hershey
Co/The
2.65%,
06/01/2050
185‌
113‌
J
M
Smucker
Co/The
2.13%,
03/15/2032
19‌
16‌
5.90%,
11/15/2028
245‌
253‌
6.50%,
11/15/2043
235‌
251‌
JBS
NV/JBS
USA
Foods
Group
Holdings
Inc/JBS
USA
Food
Co
Holdings
5.50%,
01/15/2036
355‌
354‌
5.63%,
03/10/2037
(e)
150‌
150‌
5.75%,
04/01/2033
193‌
198‌
6.25%,
03/01/2056
205‌
201‌
6.38%,
02/25/2055
215‌
215‌
6.38%,
04/15/2066
155‌
152‌
6.50%,
12/01/2052
265‌
268‌
6.75%,
03/15/2034
33‌
36‌
Kellanova
2.10%,
06/01/2030
155‌
141‌
Koninklijke
Ahold
Delhaize
NV
5.70%,
10/01/2040
9‌
9‌
Kraft
Heinz
Foods
Co
4.38%,
06/01/2046
128‌
103‌
4.88%,
10/01/2049
200‌
167‌
5.00%,
06/04/2042
200‌
179‌
5.20%,
03/15/2032
145‌
147‌
5.20%,
07/15/2045
170‌
151‌
6.50%,
02/09/2040
200‌
212‌
Kroger
Co/The
1.70%,
01/15/2031
60‌
53‌
3.70%,
08/01/2027
700‌
695‌
4.45%,
02/01/2047
345‌
286‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
21
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Food
(continued)
Kroger
Co/The
(continued)
5.00%,
09/15/2034
$
200‌
$
198‌
5.15%,
08/01/2043
300‌
279‌
5.40%,
07/15/2040
30‌
29‌
5.50%,
09/15/2054
270‌
254‌
5.65%,
09/15/2064
210‌
197‌
McCormick
&
Co
Inc/MD
1.85%,
02/15/2031
60‌
53‌
Mondelez
International
Inc
1.50%,
02/04/2031
(a)
360‌
313‌
2.63%,
09/04/2050
165‌
100‌
4.25%,
05/06/2028
155‌
155‌
4.50%,
05/06/2030
155‌
155‌
4.75%,
08/28/2034
(a)
145‌
142‌
Sysco
Corp
2.40%,
02/15/2030
250‌
230‌
2.45%,
12/14/2031
115‌
102‌
4.40%,
07/25/2031
160‌
156‌
4.85%,
10/01/2045
250‌
219‌
5.40%,
03/23/2035
315‌
317‌
5.75%,
01/17/2029
145‌
149‌
Tyson
Foods
Inc
3.55%,
06/02/2027
75‌
75‌
4.55%,
06/02/2047
350‌
299‌
4.88%,
08/15/2034
255‌
250‌
4.95%,
02/20/2036
150‌
146‌
$
10,200‌
Forest
Products
&
Paper
-
0
.03
%
Georgia-Pacific
LLC
7.75%,
11/15/2029
20‌
22‌
International
Paper
Co
4.80%,
06/15/2044
200‌
174‌
Suzano
Austria
GmbH
2.50%,
09/15/2028
255‌
242‌
Suzano
Netherlands
BV
5.50%,
01/15/2036
375‌
365‌
$
803‌
Gas
-
0
.15
%
Atmos
Energy
Corp
1.50%,
01/15/2031
375‌
328‌
3.38%,
09/15/2049
145‌
101‌
4.13%,
10/15/2044
140‌
117‌
5.45%,
01/15/2056
160‌
154‌
5.75%,
10/15/2052
210‌
210‌
5.90%,
11/15/2033
160‌
171‌
6.20%,
11/15/2053
120‌
128‌
CenterPoint
Energy
Resources
Corp
1.75%,
10/01/2030
150‌
133‌
4.40%,
07/01/2032
70‌
69‌
5.25%,
03/01/2028
160‌
163‌
NiSource
Inc
3.60%,
05/01/2030
320‌
308‌
4.75%,
05/18/2031
150‌
150‌
5.00%,
06/15/2052
135‌
118‌
5.25%,
03/30/2028
65‌
66‌
5.35%,
07/15/2035
305‌
308‌
5.40%,
06/30/2033
160‌
164‌
5.65%,
02/01/2045
250‌
245‌
5.85%,
04/01/2055
155‌
154‌
Southern
California
Gas
Co
2.55%,
02/01/2030
215‌
201‌
5.05%,
09/01/2034
320‌
320‌
5.45%,
06/15/2035
155‌
159‌
5.75%,
06/01/2053
160‌
157‌
6.00%,
06/15/2055
145‌
148‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Gas
(continued)
Southern
Co
Gas
Capital
Corp
1.75%,
01/15/2031
$
160‌
$
141‌
3.15%,
09/30/2051
60‌
39‌
5.10%,
09/15/2035
155‌
154‌
6.05%,
09/15/2056
(f)
100‌
100‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.82%
$
4,506‌
Hand
&
Machine
Tools
-
0
.02
%
Stanley
Black
&
Decker
Inc
2.30%,
03/15/2030
700‌
641‌
2.75%,
11/15/2050
85‌
50‌
$
691‌
Healthcare
-
Products
-
0
.38
%
Abbott
Laboratories
3.70%,
03/09/2029
295‌
290‌
4.00%,
03/15/2031
295‌
288‌
4.30%,
03/15/2033
295‌
287‌
4.65%,
03/15/2036
295‌
287‌
4.75%,
11/30/2036
350‌
342‌
4.75%,
03/15/2038
150‌
145‌
4.75%,
04/15/2043
300‌
276‌
4.90%,
11/30/2046
210‌
192‌
5.30%,
05/27/2040
300‌
302‌
5.50%,
03/15/2056
295‌
288‌
5.60%,
03/15/2066
295‌
288‌
Agilent
Technologies
Inc
2.10%,
06/04/2030
155‌
141‌
2.30%,
03/12/2031
60‌
54‌
Baxter
International
Inc
1.73%,
04/01/2031
85‌
72‌
2.27%,
12/01/2028
665‌
625‌
2.54%,
02/01/2032
380‌
325‌
3.13%,
12/01/2051
260‌
154‌
Boston
Scientific
Corp
2.65%,
06/01/2030
350‌
326‌
Danaher
Corp
2.60%,
10/01/2050
150‌
90‌
DH
Europe
Finance
II
Sarl
2.60%,
11/15/2029
150‌
141‌
3.25%,
11/15/2039
420‌
338‌
GE
HealthCare
Technologies
Inc
4.80%,
08/14/2029
155‌
156‌
5.50%,
06/15/2035
155‌
158‌
5.65%,
11/15/2027
355‌
361‌
5.86%,
03/15/2030
155‌
161‌
5.91%,
11/22/2032
155‌
164‌
6.38%,
11/22/2052
155‌
165‌
Koninklijke
Philips
NV
5.00%,
03/15/2042
30‌
27‌
Medtronic
Global
Holdings
SCA
4.25%,
03/30/2028
160‌
160‌
Medtronic
Inc
4.38%,
03/15/2035
500‌
482‌
4.63%,
03/15/2045
286‌
256‌
Revvity
Inc
1.90%,
09/15/2028
45‌
42‌
Stryker
Corp
1.95%,
06/15/2030
600‌
543‌
4.38%,
05/15/2044
25‌
21‌
4.63%,
03/15/2046
100‌
87‌
4.70%,
02/10/2028
545‌
548‌
4.85%,
12/08/2028
135‌
136‌
5.20%,
02/10/2035
145‌
147‌
Thermo
Fisher
Scientific
Inc
2.00%,
10/15/2031
65‌
57‌
2.60%,
10/01/2029
145‌
137‌
2.80%,
10/15/2041
650‌
474‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
22
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Healthcare
-
Products
(continued)
Thermo
Fisher
Scientific
Inc
(continued)
4.20%,
03/01/2031
$
120‌
$
118‌
4.55%,
06/15/2033
150‌
148‌
4.79%,
10/07/2035
200‌
197‌
4.80%,
11/21/2027
155‌
156‌
5.09%,
08/10/2033
300‌
305‌
5.40%,
08/10/2043
150‌
148‌
5.55%,
02/12/2046
150‌
149‌
Zimmer
Biomet
Holdings
Inc
2.60%,
11/24/2031
410‌
368‌
$
11,122‌
Healthcare
-
Services
-
0
.65
%
Advocate
Health
&
Hospitals
Corp
3.83%,
08/15/2028
300‌
297‌
Aetna
Inc
6.75%,
12/15/2037
205‌
224‌
Baylor
Scott
&
White
Holdings
4.19%,
11/15/2045
125‌
104‌
Cigna
Group/The
2.40%,
03/15/2030
391‌
362‌
3.20%,
03/15/2040
375‌
293‌
3.40%,
03/15/2051
90‌
62‌
3.88%,
10/15/2047
55‌
42‌
4.38%,
10/15/2028
175‌
175‌
4.80%,
08/15/2038
445‌
422‌
4.80%,
07/15/2046
445‌
391‌
4.88%,
09/15/2032
155‌
155‌
5.13%,
05/15/2031
265‌
270‌
5.25%,
01/15/2036
230‌
231‌
5.60%,
02/15/2054
275‌
264‌
6.00%,
01/15/2056
155‌
157‌
Elevance
Health
Inc
3.13%,
05/15/2050
75‌
49‌
3.60%,
03/15/2051
60‌
42‌
4.10%,
03/01/2028
255‌
254‌
4.38%,
12/01/2047
300‌
247‌
4.60%,
09/15/2032
270‌
265‌
4.65%,
01/15/2043
330‌
291‌
4.75%,
02/15/2030
135‌
136‌
4.75%,
02/15/2033
160‌
158‌
5.20%,
02/15/2035
205‌
206‌
5.38%,
06/15/2034
200‌
204‌
5.65%,
06/15/2054
130‌
125‌
5.70%,
02/15/2055
265‌
256‌
5.70%,
09/15/2055
175‌
170‌
6.10%,
10/15/2052
155‌
158‌
HCA
Inc
2.38%,
07/15/2031
60‌
53‌
3.38%,
03/15/2029
135‌
131‌
3.50%,
09/01/2030
680‌
646‌
3.50%,
07/15/2051
260‌
174‌
4.38%,
03/15/2042
65‌
55‌
4.60%,
11/15/2032
170‌
166‌
5.00%,
03/01/2028
315‌
318‌
5.00%,
05/15/2033
150‌
149‌
5.20%,
06/01/2028
160‌
162‌
5.45%,
04/01/2031
380‌
389‌
5.45%,
09/15/2034
400‌
404‌
5.50%,
03/01/2032
145‌
149‌
5.50%,
06/01/2033
160‌
163‌
5.50%,
06/15/2047
240‌
223‌
5.60%,
04/01/2034
130‌
133‌
5.70%,
11/15/2055
170‌
160‌
5.75%,
03/01/2035
220‌
226‌
5.95%,
09/15/2054
210‌
204‌
6.00%,
04/01/2054
200‌
196‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Healthcare
-
Services
(continued)
Humana
Inc
2.15%,
02/03/2032
$
150‌
$
130‌
3.13%,
08/15/2029
325‌
311‌
4.95%,
10/01/2044
320‌
277‌
5.50%,
03/15/2053
160‌
143‌
5.55%,
05/01/2035
235‌
235‌
Kaiser
Foundation
Hospitals
4.15%,
05/01/2047
500‌
409‌
Laboratory
Corp
of
America
Holdings
4.70%,
02/01/2045
500‌
444‌
Memorial
Sloan-Kettering
Cancer
Center
4.20%,
07/01/2055
300‌
239‌
Providence
St
Joseph
Health
Obligated
Group
3.74%,
10/01/2047
250‌
185‌
Quest
Diagnostics
Inc
2.95%,
06/30/2030
155‌
145‌
4.60%,
12/15/2027
220‌
221‌
5.00%,
12/15/2034
225‌
224‌
5.00%,
06/30/2036
150‌
147‌
UnitedHealth
Group
Inc
2.00%,
05/15/2030
200‌
182‌
2.30%,
05/15/2031
365‌
328‌
2.75%,
05/15/2040
155‌
114‌
2.88%,
08/15/2029
150‌
143‌
2.90%,
05/15/2050
155‌
99‌
3.05%,
05/15/2041
330‌
249‌
3.25%,
05/15/2051
435‌
292‌
3.50%,
08/15/2039
125‌
103‌
4.25%,
01/15/2029
175‌
174‌
4.25%,
04/15/2047
320‌
261‌
4.25%,
06/15/2048
110‌
89‌
4.40%,
06/15/2028
390‌
391‌
4.45%,
12/15/2048
95‌
79‌
4.70%,
04/15/2029
105‌
106‌
4.75%,
07/15/2045
250‌
222‌
4.75%,
05/15/2052
155‌
133‌
4.80%,
01/15/2030
250‌
253‌
4.90%,
04/15/2031
210‌
213‌
4.95%,
01/15/2032
250‌
252‌
5.00%,
04/15/2034
210‌
210‌
5.15%,
07/15/2034
250‌
253‌
5.20%,
04/15/2063
320‌
285‌
5.30%,
06/15/2035
(a)
75‌
76‌
5.35%,
02/15/2033
200‌
206‌
5.50%,
07/15/2044
250‌
245‌
5.50%,
04/15/2064
210‌
197‌
5.63%,
07/15/2054
320‌
311‌
5.88%,
02/15/2053
310‌
311‌
5.95%,
06/15/2055
40‌
41‌
6.88%,
02/15/2038
200‌
228‌
$
19,267‌
Home
Builders
-
0
.00
%
DR
Horton
Inc
1.40%,
10/15/2027
150‌
144‌
Home
Furnishings
-
0
.01
%
Leggett
&
Platt
Inc
4.40%,
03/15/2029
250‌
244‌
Insurance
-
0
.62
%
Allstate
Corp/The
1.45%,
12/15/2030
380‌
331‌
3.85%,
08/10/2049
200‌
151‌
5.25%,
03/30/2033
290‌
295‌
American
International
Group
Inc
4.38%,
06/30/2050
100‌
82‌
4.75%,
04/01/2048
250‌
220‌
5.13%,
03/27/2033
255‌
258‌
5.45%,
05/07/2035
250‌
256‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
23
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Insurance
(continued)
Aon
Corp
2.80%,
05/15/2030
$
155‌
$
144‌
Aon
Corp
/
Aon
Global
Holdings
PLC
2.60%,
12/02/2031
50‌
45‌
2.90%,
08/23/2051
60‌
37‌
5.00%,
09/12/2032
260‌
262‌
5.35%,
02/28/2033
160‌
164‌
Aon
North
America
Inc
5.15%,
03/01/2029
190‌
193‌
5.45%,
03/01/2034
325‌
332‌
5.75%,
03/01/2054
260‌
254‌
Arch
Capital
Finance
LLC
5.03%,
12/15/2046
45‌
41‌
Arthur
J
Gallagher
&
Co
4.60%,
12/15/2027
290‌
291‌
4.85%,
12/15/2029
220‌
222‌
5.15%,
02/15/2035
440‌
437‌
5.55%,
02/15/2055
220‌
208‌
Athene
Holding
Ltd
4.13%,
01/12/2028
300‌
298‌
6.25%,
04/01/2054
300‌
283‌
6.63%,
05/19/2055
155‌
153‌
Berkshire
Hathaway
Finance
Corp
2.50%,
01/15/2051
90‌
53‌
2.85%,
10/15/2050
100‌
64‌
2.88%,
03/15/2032
250‌
232‌
3.85%,
03/15/2052
440‌
335‌
4.20%,
08/15/2048
270‌
222‌
4.25%,
01/15/2049
250‌
207‌
4.30%,
05/15/2043
235‌
207‌
5.75%,
01/15/2040
25‌
27‌
Brighthouse
Financial
Inc
4.70%,
06/22/2047
300‌
217‌
Brown
&
Brown
Inc
4.90%,
06/23/2030
60‌
60‌
5.25%,
06/23/2032
155‌
155‌
5.55%,
06/23/2035
245‌
246‌
6.25%,
06/23/2055
205‌
206‌
Chubb
INA
Holdings
LLC
1.38%,
09/15/2030
415‌
364‌
2.85%,
12/15/2051
30‌
19‌
3.05%,
12/15/2061
545‌
334‌
4.35%,
11/03/2045
365‌
314‌
4.65%,
08/15/2029
145‌
146‌
5.00%,
03/15/2034
215‌
216‌
6.00%,
05/11/2037
175‌
187‌
CNA
Financial
Corp
2.05%,
08/15/2030
160‌
143‌
Corebridge
Financial
Inc
3.85%,
04/05/2029
180‌
176‌
3.90%,
04/05/2032
390‌
367‌
6.05%,
09/15/2033
160‌
168‌
Equitable
Holdings
Inc
4.35%,
04/20/2028
47‌
47‌
5.00%,
04/20/2048
312‌
273‌
Hartford
Insurance
Group
Inc/The
2.90%,
09/15/2051
195‌
122‌
Lincoln
National
Corp
6.30%,
10/09/2037
240‌
255‌
Manulife
Financial
Corp
5.38%,
03/04/2046
355‌
344‌
Markel
Group
Inc
3.45%,
05/07/2052
75‌
50‌
Marsh
&
McLennan
Cos
Inc
4.38%,
03/15/2029
220‌
220‌
4.55%,
11/08/2027
140‌
141‌
4.85%,
11/15/2031
290‌
292‌
4.90%,
03/15/2049
110‌
98‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Insurance
(continued)
Marsh
&
McLennan
Cos
Inc
(continued)
4.95%,
03/15/2036
$
160‌
$
158‌
5.00%,
03/15/2035
275‌
273‌
5.40%,
09/15/2033
160‌
165‌
5.40%,
03/15/2055
220‌
209‌
5.70%,
09/15/2053
160‌
158‌
6.25%,
11/01/2052
155‌
164‌
MetLife
Inc
4.05%,
03/01/2045
250‌
205‌
4.13%,
08/13/2042
250‌
210‌
4.60%,
05/13/2046
195‌
171‌
4.88%,
11/13/2043
50‌
46‌
5.25%,
01/15/2054
240‌
226‌
5.30%,
12/15/2034
280‌
286‌
5.38%,
07/15/2033
160‌
166‌
5.70%,
06/15/2035
300‌
314‌
5.85%,
03/15/2056
(f)
150‌
148‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.82%
Progressive
Corp/The
3.70%,
03/15/2052
210‌
154‌
4.13%,
04/15/2047
430‌
347‌
4.35%,
04/25/2044
30‌
25‌
4.95%,
06/15/2033
160‌
162‌
5.15%,
03/26/2036
370‌
370‌
Prudential
Financial
Inc
2.10%,
03/10/2030
(a)
400‌
368‌
3.70%,
10/01/2050
(f)
160‌
147‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.04%
3.70%,
03/13/2051
785‌
572‌
5.20%,
03/14/2035
150‌
151‌
5.70%,
12/14/2036
200‌
208‌
5.70%,
09/15/2048
(f)
270‌
270‌
3
Month
USD
LIBOR
+
2.67%
Travelers
Cos
Inc/The
3.05%,
06/08/2051
90‌
59‌
4.00%,
05/30/2047
175‌
139‌
5.05%,
07/24/2035
230‌
230‌
5.45%,
05/25/2053
200‌
195‌
6.25%,
06/15/2037
250‌
273‌
W
R
Berkley
Corp
4.00%,
05/12/2050
75‌
58‌
Willis
North
America
Inc
2.95%,
09/15/2029
150‌
142‌
3.88%,
09/15/2049
140‌
104‌
5.35%,
05/15/2033
160‌
162‌
$
18,499‌
Internet
-
0
.88
%
Alibaba
Group
Holding
Ltd
2.13%,
02/09/2031
500‌
453‌
3.15%,
02/09/2051
200‌
137‌
3.40%,
12/06/2027
860‌
851‌
4.20%,
12/06/2047
200‌
167‌
Alphabet
Inc
1.10%,
08/15/2030
625‌
550‌
1.90%,
08/15/2040
540‌
360‌
3.70%,
02/15/2029
115‌
114‌
3.88%,
11/15/2028
90‌
89‌
4.00%,
05/15/2030
630‌
623‌
4.10%,
11/15/2030
155‌
153‌
4.38%,
11/15/2032
155‌
153‌
4.40%,
02/15/2033
295‌
290‌
4.70%,
11/15/2035
305‌
300‌
4.80%,
02/15/2036
675‌
667‌
5.25%,
05/15/2055
355‌
335‌
5.30%,
05/15/2065
330‌
306‌
5.35%,
11/15/2045
155‌
151‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
24
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Internet
(continued)
Alphabet
Inc
(continued)
5.45%,
11/15/2055
$
155‌
$
150‌
5.50%,
02/15/2046
150‌
149‌
5.65%,
02/15/2056
295‌
293‌
5.75%,
02/15/2066
295‌
293‌
Amazon.com
Inc
1.50%,
06/03/2030
(a)
365‌
327‌
1.65%,
05/12/2028
400‌
382‌
2.10%,
05/12/2031
410‌
367‌
2.50%,
06/03/2050
285‌
168‌
2.88%,
05/12/2041
210‌
156‌
3.10%,
05/12/2051
210‌
138‌
3.15%,
08/22/2027
600‌
594‌
3.25%,
05/12/2061
400‌
250‌
3.88%,
08/22/2037
570‌
514‌
3.90%,
11/20/2028
285‌
283‌
3.95%,
04/13/2052
540‌
416‌
4.00%,
03/13/2029
295‌
293‌
4.05%,
08/22/2047
500‌
402‌
4.25%,
03/13/2031
590‌
583‌
4.25%,
08/22/2057
350‌
275‌
4.35%,
03/20/2033
145‌
142‌
4.55%,
03/13/2033
295‌
292‌
4.65%,
11/20/2035
145‌
142‌
4.70%,
12/01/2032
420‌
424‌
4.80%,
12/05/2034
250‌
252‌
4.88%,
03/13/2036
1,180‌
1,166‌
4.95%,
12/05/2044
180‌
169‌
5.45%,
11/20/2055
145‌
138‌
5.55%,
11/20/2065
145‌
138‌
5.80%,
03/13/2056
500‌
500‌
5.95%,
03/13/2066
295‌
297‌
eBay
Inc
2.60%,
05/10/2031
360‌
325‌
3.65%,
05/10/2051
400‌
292‌
4.00%,
07/15/2042
20‌
16‌
5.95%,
11/22/2027
155‌
158‌
Expedia
Group
Inc
2.95%,
03/15/2031
263‌
242‌
5.50%,
04/15/2036
375‌
371‌
Meta
Platforms
Inc
3.85%,
08/15/2032
435‌
413‌
4.20%,
11/15/2030
675‌
666‌
4.30%,
08/15/2029
405‌
405‌
4.45%,
08/15/2052
425‌
333‌
4.55%,
05/15/2031
150‌
149‌
4.60%,
11/15/2032
620‌
612‌
4.75%,
08/15/2034
310‌
305‌
4.80%,
05/15/2030
100‌
101‌
4.88%,
05/15/2033
150‌
150‌
4.88%,
11/15/2035
325‌
318‌
4.95%,
05/15/2033
160‌
161‌
5.25%,
05/15/2036
790‌
789‌
5.40%,
08/15/2054
310‌
278‌
5.50%,
11/15/2045
465‌
436‌
5.55%,
08/15/2064
355‌
316‌
5.60%,
05/15/2053
320‌
296‌
5.63%,
11/15/2055
465‌
429‌
5.75%,
11/15/2065
465‌
426‌
6.20%,
05/15/2046
295‌
298‌
6.30%,
05/15/2056
295‌
298‌
6.45%,
05/15/2066
445‌
449‌
Netflix
Inc
4.90%,
08/15/2034
380‌
382‌
5.88%,
11/15/2028
485‌
503‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Internet
(continued)
Uber
Technologies
Inc
4.15%,
01/15/2031
$
455‌
$
445‌
4.80%,
09/15/2035
390‌
380‌
$
26,134‌
Investment
Companies
-
0
.04
%
Ares
Capital
Corp
5.10%,
01/15/2031
155‌
151‌
5.50%,
09/01/2030
155‌
153‌
5.55%,
01/15/2030
150‌
149‌
Blackstone
Private
Credit
Fund
5.05%,
09/10/2030
460‌
442‌
5.95%,
05/15/2031
150‌
148‌
$
1,043‌
Iron
&
Steel
-
0
.05
%
ArcelorMittal
SA
5.38%,
05/19/2036
230‌
229‌
6.00%,
06/17/2034
260‌
274‌
Nucor
Corp
3.13%,
04/01/2032
65‌
60‌
Steel
Dynamics
Inc
1.65%,
10/15/2027
65‌
63‌
5.38%,
08/15/2034
130‌
132‌
5.75%,
05/15/2055
150‌
149‌
Vale
Overseas
Ltd
6.13%,
06/12/2033
320‌
337‌
6.40%,
06/28/2054
280‌
286‌
$
1,530‌
Lodging
-
0
.06
%
Hyatt
Hotels
Corp
5.25%,
06/30/2029
130‌
132‌
Marriott
International
Inc/MD
2.85%,
04/15/2031
510‌
468‌
4.50%,
05/01/2033
105‌
102‌
5.00%,
10/15/2027
275‌
277‌
5.10%,
05/01/2038
105‌
102‌
5.25%,
10/15/2035
55‌
55‌
5.35%,
03/15/2035
305‌
310‌
5.55%,
10/15/2028
315‌
323‌
$
1,769‌
Machinery
-
Construction
&
Mining
-
0
.07
%
Caterpillar
Financial
Services
Corp
1.10%,
09/14/2027
120‌
116‌
3.70%,
01/10/2028
295‌
293‌
3.95%,
11/14/2028
145‌
144‌
4.30%,
05/15/2029
150‌
150‌
4.70%,
11/15/2029
480‌
485‌
Caterpillar
Inc
2.60%,
04/09/2030
160‌
150‌
3.25%,
09/19/2049
145‌
102‌
3.80%,
08/15/2042
550‌
459‌
5.50%,
05/15/2055
305‌
310‌
$
2,209‌
Machinery
-
Diversified
-
0
.15
%
Deere
&
Co
3.90%,
06/09/2042
200‌
170‌
5.45%,
01/16/2035
340‌
353‌
Dover
Corp
5.38%,
03/01/2041
30‌
30‌
Ingersoll
Rand
Inc
5.20%,
06/15/2027
130‌
131‌
5.31%,
06/15/2031
130‌
133‌
John
Deere
Capital
Corp
1.50%,
03/06/2028
260‌
248‌
2.00%,
06/17/2031
55‌
49‌
2.80%,
07/18/2029
115‌
110‌
4.15%,
09/15/2027
155‌
155‌
4.35%,
09/15/2032
345‌
341‌
4.38%,
04/15/2031
150‌
149‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
25
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Machinery
-
Diversified
(continued)
John
Deere
Capital
Corp
(continued)
4.55%,
06/05/2030
$
305‌
$
306‌
4.65%,
01/07/2028
355‌
357‌
4.85%,
06/11/2029
215‌
218‌
4.90%,
06/11/2027
215‌
217‌
4.90%,
03/07/2031
125‌
127‌
4.95%,
07/14/2028
160‌
163‌
5.10%,
04/11/2034
300‌
305‌
Otis
Worldwide
Corp
2.57%,
02/15/2030
155‌
144‌
3.36%,
02/15/2050
455‌
316‌
5.13%,
09/04/2035
155‌
155‌
Rockwell
Automation
Inc
1.75%,
08/15/2031
40‌
35‌
2.80%,
08/15/2061
60‌
34‌
Westinghouse
Air
Brake
Technologies
Corp
4.70%,
09/15/2028
300‌
301‌
$
4,547‌
Media
-
0
.51
%
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
2.25%,
01/15/2029
120‌
112‌
2.30%,
02/01/2032
(a)
250‌
213‌
2.80%,
04/01/2031
110‌
98‌
3.50%,
06/01/2041
515‌
360‌
3.70%,
04/01/2051
110‌
68‌
3.85%,
04/01/2061
335‌
195‌
3.90%,
06/01/2052
210‌
133‌
4.40%,
12/01/2061
180‌
115‌
4.80%,
03/01/2050
600‌
445‌
5.38%,
04/01/2038
50‌
45‌
5.38%,
05/01/2047
240‌
194‌
5.75%,
04/01/2048
280‌
236‌
6.38%,
10/23/2035
275‌
277‌
6.48%,
10/23/2045
395‌
365‌
6.55%,
06/01/2034
380‌
390‌
6.70%,
12/01/2055
(a)
130‌
123‌
Comcast
Corp
1.50%,
02/15/2031
(a)
410‌
356‌
2.45%,
08/15/2052
160‌
84‌
2.65%,
02/01/2030
115‌
108‌
2.65%,
08/15/2062
160‌
79‌
2.89%,
11/01/2051
465‌
271‌
2.94%,
11/01/2056
390‌
219‌
2.99%,
11/01/2063
409‌
219‌
3.15%,
02/15/2028
250‌
245‌
3.25%,
11/01/2039
230‌
178‌
3.45%,
02/01/2050
250‌
166‌
3.55%,
05/01/2028
685‌
675‌
3.75%,
04/01/2040
300‌
244‌
3.90%,
03/01/2038
160‌
138‌
3.97%,
11/01/2047
105‌
78‌
4.00%,
03/01/2048
210‌
156‌
4.15%,
10/15/2028
250‌
249‌
4.40%,
08/15/2035
245‌
231‌
4.55%,
01/15/2029
520‌
522‌
4.70%,
10/15/2048
300‌
247‌
4.80%,
05/15/2033
365‌
363‌
4.95%,
05/15/2032
155‌
156‌
5.10%,
06/01/2029
345‌
352‌
5.30%,
06/01/2034
345‌
351‌
5.35%,
05/15/2053
250‌
221‌
5.50%,
11/15/2032
325‌
337‌
5.65%,
06/15/2035
250‌
259‌
5.65%,
06/01/2054
295‌
272‌
6.05%,
05/15/2055
155‌
153‌
Discovery
Communications
LLC
5.20%,
09/20/2047
3‌
2‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Media
(continued)
Fox
Corp
5.48%,
01/25/2039
$
110‌
$
108‌
5.58%,
01/25/2049
320‌
302‌
6.50%,
10/13/2033
410‌
441‌
Time
Warner
Cable
Enterprises
LLC
8.38%,
07/15/2033
20‌
22‌
Time
Warner
Cable
LLC
4.50%,
09/15/2042
170‌
129‌
5.50%,
09/01/2041
250‌
216‌
5.88%,
11/15/2040
260‌
234‌
6.55%,
05/01/2037
360‌
360‌
7.30%,
07/01/2038
60‌
63‌
TWDC
Enterprises
18
Corp
3.00%,
07/30/2046
250‌
172‌
Walt
Disney
Co/The
2.00%,
09/01/2029
350‌
325‌
2.20%,
01/13/2028
110‌
107‌
2.65%,
01/13/2031
475‌
440‌
2.75%,
09/01/2049
300‌
187‌
3.50%,
05/13/2040
155‌
127‌
3.60%,
01/13/2051
305‌
224‌
4.00%,
03/14/2031
(a)
150‌
147‌
4.63%,
03/14/2036
150‌
146‌
4.70%,
03/23/2050
220‌
194‌
4.95%,
10/15/2045
325‌
299‌
6.40%,
12/15/2035
369‌
409‌
6.65%,
11/15/2037
250‌
282‌
$
15,234‌
Metal
Fabrication
&
Hardware
-
0
.01
%
Precision
Castparts
Corp
3.90%,
01/15/2043
193‌
160‌
Mining
-
0
.18
%
Barrick
PD
Australia
Finance
Pty
Ltd
5.95%,
10/15/2039
410‌
429‌
BHP
Billiton
Finance
USA
Ltd
4.13%,
02/24/2042
170‌
147‌
4.90%,
02/28/2033
160‌
161‌
5.00%,
02/21/2030
285‌
290‌
5.00%,
02/15/2036
155‌
156‌
5.00%,
09/30/2043
500‌
472‌
5.25%,
09/08/2030
160‌
164‌
5.50%,
09/08/2053
160‌
158‌
Freeport-McMoRan
Inc
4.38%,
08/01/2028
200‌
199‌
5.25%,
09/01/2029
700‌
706‌
Newmont
Corp
2.60%,
07/15/2032
170‌
153‌
Rio
Tinto
Alcan
Inc
6.13%,
12/15/2033
30‌
32‌
Rio
Tinto
Finance
USA
Ltd
2.75%,
11/02/2051
155‌
95‌
Rio
Tinto
Finance
USA
PLC
4.75%,
03/22/2042
250‌
231‌
4.88%,
03/14/2030
430‌
435‌
5.00%,
03/09/2033
160‌
162‌
5.25%,
03/14/2035
445‌
454‌
5.75%,
03/14/2055
180‌
182‌
Southern
Copper
Corp
5.25%,
11/08/2042
200‌
191‌
5.88%,
04/23/2045
110‌
111‌
7.50%,
07/27/2035
240‌
278‌
$
5,206‌
Miscellaneous
Manufacturers
-
0
.12
%
3M
Co
2.38%,
08/26/2029
250‌
235‌
3.25%,
08/26/2049
100‌
69‌
5.15%,
03/15/2035
(a)
335‌
339‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
26
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Miscellaneous
Manufacturers
(continued)
Eaton
Corp
3.85%,
03/06/2028
$
200‌
$
198‌
4.15%,
03/15/2033
300‌
291‌
4.15%,
11/02/2042
95‌
82‌
4.20%,
03/06/2031
200‌
197‌
4.50%,
03/06/2033
200‌
197‌
4.80%,
03/06/2036
470‌
462‌
5.45%,
03/06/2056
200‌
197‌
Parker-Hannifin
Corp
4.20%,
11/21/2034
225‌
216‌
4.25%,
09/15/2027
435‌
435‌
4.50%,
09/15/2029
435‌
436‌
Teledyne
Technologies
Inc
2.25%,
04/01/2028
60‌
58‌
$
3,412‌
Oil
&
Gas
-
0
.73
%
BP
Capital
Markets
America
Inc
1.75%,
08/10/2030
205‌
184‌
2.72%,
01/12/2032
230‌
208‌
2.94%,
06/04/2051
425‌
271‌
3.00%,
02/24/2050
155‌
101‌
3.00%,
03/17/2052
135‌
87‌
3.06%,
06/17/2041
115‌
87‌
4.70%,
04/10/2029
270‌
272‌
4.81%,
02/13/2033
160‌
160‌
4.89%,
09/11/2033
160‌
160‌
4.97%,
10/17/2029
200‌
203‌
4.99%,
04/10/2034
135‌
136‌
5.02%,
11/17/2027
410‌
415‌
5.23%,
11/17/2034
200‌
204‌
BP
Capital
Markets
PLC
3.28%,
09/19/2027
115‌
114‌
Canadian
Natural
Resources
Ltd
4.95%,
06/01/2047
300‌
267‌
5.00%,
12/15/2029
295‌
299‌
6.25%,
03/15/2038
300‌
319‌
Cenovus
Energy
Inc
6.75%,
11/15/2039
40‌
44‌
Chevron
USA
Inc
2.34%,
08/12/2050
160‌
92‌
4.05%,
08/13/2028
155‌
154‌
4.30%,
10/15/2030
270‌
270‌
4.69%,
04/15/2030
150‌
151‌
4.82%,
04/15/2032
320‌
325‌
4.85%,
10/15/2035
(a)
155‌
155‌
ConocoPhillips
Co
3.80%,
03/15/2052
345‌
255‌
4.03%,
03/15/2062
505‌
370‌
4.30%,
11/15/2044
200‌
169‌
4.70%,
01/15/2030
210‌
212‌
5.00%,
01/15/2035
220‌
221‌
5.05%,
09/15/2033
215‌
219‌
5.50%,
01/15/2055
220‌
212‌
5.55%,
03/15/2054
155‌
151‌
Devon
Energy
Corp
5.00%,
06/15/2045
75‌
68‌
5.20%,
09/15/2034
305‌
307‌
5.60%,
07/15/2041
380‌
376‌
5.75%,
09/15/2054
205‌
198‌
Diamondback
Energy
Inc
5.15%,
01/30/2030
295‌
301‌
5.40%,
04/18/2034
500‌
512‌
5.75%,
04/18/2054
350‌
344‌
EOG
Resources
Inc
4.40%,
07/15/2028
75‌
75‌
4.40%,
01/15/2031
145‌
143‌
5.35%,
01/15/2036
155‌
158‌
5.65%,
12/01/2054
210‌
206‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Oil
&
Gas
(continued)
EOG
Resources
Inc
(continued)
5.95%,
07/15/2055
$
205‌
$
210‌
Equinor
ASA
2.38%,
05/22/2030
250‌
231‌
3.25%,
11/18/2049
445‌
310‌
3.63%,
04/06/2040
155‌
130‌
4.25%,
06/02/2028
300‌
300‌
4.25%,
11/23/2041
400‌
349‌
Exxon
Mobil
Corp
2.44%,
08/16/2029
100‌
95‌
2.61%,
10/15/2030
500‌
466‌
3.00%,
08/16/2039
80‌
64‌
3.10%,
08/16/2049
500‌
340‌
3.45%,
04/15/2051
230‌
165‌
3.57%,
03/06/2045
340‌
265‌
4.23%,
03/19/2040
315‌
285‌
Hess
Corp
7.13%,
03/15/2033
21‌
24‌
7.30%,
08/15/2031
109‌
122‌
Marathon
Petroleum
Corp
4.75%,
09/15/2044
235‌
205‌
5.00%,
09/15/2054
200‌
171‌
Occidental
Petroleum
Corp
5.38%,
01/01/2032
175‌
180‌
6.05%,
10/01/2054
230‌
233‌
6.45%,
09/15/2036
565‌
614‌
6.63%,
09/01/2030
228‌
243‌
Phillips
66
2.15%,
12/15/2030
110‌
99‌
4.65%,
11/15/2034
285‌
277‌
4.88%,
11/15/2044
350‌
312‌
5.88%,
05/01/2042
30‌
30‌
Phillips
66
Co
4.90%,
10/01/2046
270‌
238‌
4.95%,
12/01/2027
160‌
161‌
5.25%,
06/15/2031
205‌
209‌
5.50%,
03/15/2055
135‌
126‌
Pioneer
Natural
Resources
Co
1.90%,
08/15/2030
160‌
144‌
2.15%,
01/15/2031
55‌
50‌
Shell
Finance
US
Inc
3.25%,
04/06/2050
350‌
243‌
3.88%,
11/13/2028
(e)
300‌
298‌
4.00%,
05/10/2046
360‌
289‌
4.13%,
11/06/2030
125‌
123‌
4.13%,
05/11/2035
130‌
123‌
4.38%,
05/11/2045
325‌
278‌
4.55%,
08/12/2043
340‌
301‌
4.75%,
01/06/2036
155‌
153‌
6.38%,
12/15/2038
(e)
400‌
440‌
Shell
International
Finance
BV
2.88%,
11/26/2041
120‌
88‌
Suncor
Energy
Inc
3.75%,
03/04/2051
60‌
43‌
4.00%,
11/15/2047
100‌
77‌
6.80%,
05/15/2038
77‌
85‌
6.85%,
06/01/2039
73‌
81‌
TotalEnergies
Capital
International
SA
2.83%,
01/10/2030
250‌
237‌
2.99%,
06/29/2041
115‌
86‌
3.13%,
05/29/2050
265‌
179‌
3.39%,
06/29/2060
115‌
75‌
TotalEnergies
Capital
SA
5.15%,
04/05/2034
235‌
239‌
5.28%,
09/10/2054
135‌
127‌
5.43%,
09/10/2064
335‌
316‌
5.49%,
04/05/2054
235‌
228‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
27
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Oil
&
Gas
(continued)
TotalEnergies
Capital
USA
LLC
4.25%,
01/13/2031
$
145‌
$
143‌
4.86%,
01/13/2036
145‌
143‌
Valero
Energy
Corp
2.80%,
12/01/2031
365‌
330‌
4.00%,
06/01/2052
525‌
387‌
6.63%,
06/15/2037
60‌
66‌
7.50%,
04/15/2032
60‌
68‌
Woodside
Finance
Ltd
5.40%,
05/19/2030
155‌
158‌
6.00%,
05/19/2035
305‌
319‌
$
21,546‌
Oil
&
Gas
Services
-
0
.07
%
Baker
Hughes
Holdings
LLC
/
Baker
Hughes
Co-
Obligor
Inc
3.14%,
11/07/2029
150‌
144‌
3.34%,
12/15/2027
135‌
133‌
4.35%,
06/15/2031
375‌
369‌
4.65%,
06/15/2033
310‌
305‌
Halliburton
Co
4.50%,
11/15/2041
400‌
350‌
5.00%,
11/15/2045
230‌
209‌
7.45%,
09/15/2039
386‌
453‌
NOV
Inc
3.60%,
12/01/2029
150‌
145‌
$
2,108‌
Packaging
&
Containers
-
0
.08
%
Amcor
Flexibles
North
America
Inc
4.80%,
03/17/2028
175‌
176‌
5.10%,
03/17/2030
90‌
91‌
5.13%,
03/12/2036
(a)
540‌
530‌
Packaging
Corp
of
America
3.00%,
12/15/2029
500‌
475‌
3.05%,
10/01/2051
200‌
129‌
Smurfit
Westrock
Financing
DAC
5.42%,
01/15/2035
280‌
283‌
WRKCo
Inc
3.00%,
06/15/2033
80‌
70‌
4.20%,
06/01/2032
500‌
480‌
$
2,234‌
Pharmaceuticals
-
1
.32
%
AbbVie
Inc
3.20%,
11/21/2029
820‌
787‌
3.78%,
03/03/2028
150‌
149‌
4.05%,
11/21/2039
375‌
331‌
4.25%,
11/14/2028
140‌
140‌
4.25%,
11/21/2049
490‌
401‌
4.40%,
03/15/2033
150‌
147‌
4.40%,
11/06/2042
225‌
199‌
4.45%,
05/14/2046
270‌
232‌
4.50%,
05/14/2035
300‌
290‌
4.55%,
03/15/2035
170‌
165‌
4.80%,
03/15/2029
455‌
460‌
4.85%,
06/15/2044
225‌
207‌
4.88%,
11/14/2048
440‌
396‌
4.95%,
03/15/2031
190‌
193‌
5.05%,
03/15/2034
270‌
274‌
5.20%,
03/15/2035
145‌
148‌
5.40%,
03/15/2054
150‌
145‌
5.60%,
03/15/2055
145‌
144‌
5.65%,
03/15/2066
150‌
147‌
Astrazeneca
Finance
LLC
1.75%,
05/28/2028
105‌
100‌
2.25%,
05/28/2031
60‌
54‌
4.85%,
02/26/2029
130‌
132‌
4.88%,
03/03/2028
285‌
288‌
4.88%,
03/03/2033
400‌
406‌
4.90%,
02/26/2031
130‌
132‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Pharmaceuticals
(continued)
AstraZeneca
PLC
1.38%,
08/06/2030
$
350‌
$
309‌
3.00%,
05/28/2051
45‌
30‌
4.38%,
08/17/2048
60‌
52‌
6.45%,
09/15/2037
330‌
368‌
Becton
Dickinson
&
Co
1.96%,
02/11/2031
410‌
363‌
3.70%,
06/06/2027
600‌
596‌
Bristol-Myers
Squibb
Co
1.13%,
11/13/2027
120‌
115‌
1.45%,
11/13/2030
65‌
57‌
2.55%,
11/13/2050
65‌
38‌
2.95%,
03/15/2032
200‌
183‌
3.55%,
03/15/2042
200‌
159‌
3.70%,
03/15/2052
250‌
183‌
4.13%,
06/15/2039
195‌
175‌
4.25%,
10/26/2049
360‌
292‌
4.35%,
11/15/2047
210‌
175‌
4.55%,
02/20/2048
171‌
147‌
5.20%,
02/22/2034
465‌
476‌
5.50%,
02/22/2044
130‌
129‌
5.55%,
02/22/2054
300‌
292‌
5.75%,
02/01/2031
140‌
147‌
Cardinal
Health
Inc
3.41%,
06/15/2027
400‌
396‌
4.50%,
09/15/2030
155‌
154‌
Cencora
Inc
4.25%,
11/15/2030
150‌
147‌
4.90%,
02/13/2036
620‌
605‌
CVS
Health
Corp
1.30%,
08/21/2027
160‌
154‌
1.75%,
08/21/2030
440‌
390‌
1.88%,
02/28/2031
335‌
294‌
3.25%,
08/15/2029
740‌
710‌
4.30%,
03/25/2028
500‌
498‌
4.78%,
03/25/2038
905‌
845‌
5.00%,
09/15/2032
250‌
251‌
5.05%,
03/25/2048
725‌
636‌
5.13%,
07/20/2045
430‌
387‌
5.25%,
02/21/2033
160‌
163‌
5.30%,
06/01/2033
160‌
162‌
5.55%,
06/01/2031
130‌
134‌
5.70%,
06/01/2034
130‌
134‌
5.88%,
06/01/2053
320‌
310‌
6.25%,
09/15/2065
205‌
207‌
Eli
Lilly
&
Co
2.50%,
09/15/2060
155‌
84‌
4.00%,
10/15/2028
435‌
434‌
4.15%,
03/15/2059
320‌
250‌
4.38%,
05/20/2031
150‌
149‌
4.50%,
02/09/2029
130‌
131‌
4.55%,
02/12/2028
545‌
549‌
4.55%,
10/15/2032
155‌
155‌
4.60%,
08/14/2034
400‌
395‌
4.65%,
05/20/2033
150‌
150‌
4.70%,
02/09/2034
130‌
130‌
4.75%,
02/12/2030
275‌
279‌
4.85%,
05/20/2036
150‌
149‌
4.88%,
02/27/2053
120‌
109‌
5.00%,
02/09/2054
130‌
120‌
5.05%,
08/14/2054
400‌
370‌
5.60%,
05/20/2056
105‌
105‌
5.60%,
02/12/2065
285‌
280‌
5.65%,
10/15/2065
130‌
129‌
5.70%,
05/20/2066
150‌
151‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
28
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Pharmaceuticals
(continued)
GlaxoSmithKline
Capital
Inc
3.88%,
05/15/2028
$
140‌
$
139‌
4.50%,
04/15/2030
150‌
151‌
4.88%,
04/15/2035
75‌
75‌
6.38%,
05/15/2038
380‌
420‌
Johnson
&
Johnson
2.10%,
09/01/2040
115‌
80‌
3.70%,
03/01/2046
290‌
232‌
4.55%,
03/01/2028
400‌
403‌
4.80%,
06/01/2029
520‌
530‌
4.90%,
06/01/2031
520‌
535‌
4.95%,
06/01/2034
260‌
268‌
5.95%,
08/15/2037
75‌
83‌
McKesson
Corp
4.65%,
05/30/2030
325‌
326‌
Merck
&
Co
Inc
1.45%,
06/24/2030
200‌
178‌
1.70%,
06/10/2027
155‌
152‌
1.90%,
12/10/2028
70‌
66‌
2.35%,
06/24/2040
135‌
96‌
2.75%,
12/10/2051
310‌
190‌
2.90%,
12/10/2061
420‌
243‌
3.70%,
02/10/2045
600‌
470‌
3.85%,
09/15/2027
155‌
155‌
3.85%,
03/15/2029
(a)
285‌
282‌
4.15%,
09/15/2030
330‌
327‌
4.15%,
05/18/2043
325‌
276‌
4.45%,
12/04/2032
145‌
143‌
4.50%,
05/17/2033
(a)
300‌
298‌
4.75%,
12/04/2035
145‌
142‌
4.95%,
09/15/2035
155‌
155‌
5.00%,
05/17/2053
320‌
290‌
5.20%,
05/22/2036
150‌
152‌
5.55%,
12/04/2055
145‌
143‌
5.70%,
12/04/2065
145‌
143‌
5.85%,
05/22/2056
150‌
154‌
Novartis
Capital
Corp
2.75%,
08/14/2050
155‌
98‌
3.80%,
09/18/2029
300‌
295‌
4.10%,
03/16/2029
150‌
149‌
4.10%,
11/05/2030
155‌
153‌
4.20%,
09/18/2034
300‌
289‌
4.30%,
11/05/2032
(a)
155‌
152‌
4.40%,
03/18/2031
295‌
294‌
4.40%,
05/06/2044
250‌
220‌
4.60%,
03/18/2033
150‌
149‌
4.60%,
11/05/2035
155‌
152‌
4.70%,
09/18/2054
300‌
265‌
5.20%,
11/05/2045
155‌
149‌
5.70%,
03/18/2056
295‌
299‌
Pfizer
Inc
1.75%,
08/18/2031
245‌
215‌
2.55%,
05/28/2040
800‌
583‌
4.00%,
12/15/2036
45‌
41‌
4.20%,
11/15/2030
155‌
154‌
4.20%,
09/15/2048
80‌
66‌
4.30%,
06/15/2043
225‌
194‌
4.40%,
05/15/2044
75‌
65‌
4.50%,
11/15/2032
145‌
143‌
5.60%,
11/15/2055
145‌
144‌
5.70%,
11/15/2065
145‌
142‌
7.20%,
03/15/2039
60‌
70‌
Pfizer
Investment
Enterprises
Pte
Ltd
4.45%,
05/19/2028
780‌
782‌
4.65%,
05/19/2030
320‌
322‌
4.75%,
05/19/2033
400‌
398‌
5.11%,
05/19/2043
320‌
304‌
5.30%,
05/19/2053
570‌
535‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Pharmaceuticals
(continued)
Pfizer
Investment
Enterprises
Pte
Ltd
(continued)
5.34%,
05/19/2063
$
370‌
$
341‌
Takeda
Pharmaceutical
Co
Ltd
2.05%,
03/31/2030
700‌
637‌
3.18%,
07/09/2050
645‌
428‌
5.30%,
07/05/2034
260‌
264‌
Takeda
US
Financing
Inc
5.90%,
07/07/2055
300‌
301‌
Utah
Acquisition
Sub
Inc
5.25%,
06/15/2046
305‌
256‌
Viatris
Inc
2.30%,
06/22/2027
115‌
112‌
2.70%,
06/22/2030
155‌
142‌
3.85%,
06/22/2040
335‌
262‌
4.00%,
06/22/2050
305‌
209‌
Wyeth
LLC
5.95%,
04/01/2037
410‌
436‌
Zoetis
Inc
2.00%,
05/15/2030
85‌
77‌
3.00%,
05/15/2050
40‌
26‌
4.15%,
08/17/2028
245‌
244‌
4.70%,
02/01/2043
250‌
223‌
$
39,126‌
Pipelines
-
0
.90
%
Cheniere
Corpus
Christi
Holdings
LLC
3.70%,
11/15/2029
300‌
291‌
Cheniere
Energy
Partners
LP
5.55%,
10/30/2035
320‌
326‌
5.75%,
08/15/2034
255‌
265‌
6.05%,
11/30/2056
(e),(g)
150‌
152‌
Eastern
Gas
Transmission
&
Storage
Inc
4.60%,
12/15/2044
640‌
550‌
Enbridge
Inc
2.50%,
08/01/2033
465‌
398‌
3.13%,
11/15/2029
150‌
143‌
3.40%,
08/01/2051
45‌
31‌
4.60%,
06/20/2028
260‌
261‌
5.30%,
04/05/2029
195‌
199‌
5.55%,
06/20/2035
230‌
236‌
5.70%,
03/08/2033
160‌
166‌
5.95%,
04/05/2054
320‌
322‌
6.70%,
11/15/2053
215‌
237‌
Energy
Transfer
LP
3.75%,
05/15/2030
365‌
353‌
4.90%,
03/15/2035
340‌
333‌
5.25%,
04/15/2029
200‌
204‌
5.30%,
04/15/2047
500‌
450‌
5.35%,
05/15/2045
220‌
201‌
5.55%,
05/15/2034
205‌
210‌
5.70%,
04/01/2035
535‌
551‌
5.75%,
02/15/2033
155‌
161‌
6.05%,
09/01/2054
275‌
268‌
6.10%,
12/01/2028
320‌
331‌
6.25%,
04/15/2049
155‌
155‌
6.30%,
01/15/2056
145‌
146‌
6.40%,
12/01/2030
320‌
341‌
6.50%,
02/01/2042
370‌
392‌
Enterprise
Products
Operating
LLC
2.80%,
01/31/2030
150‌
141‌
3.13%,
07/31/2029
350‌
337‌
3.30%,
02/15/2053
80‌
54‌
4.25%,
02/15/2048
250‌
205‌
4.30%,
06/20/2028
105‌
105‌
4.45%,
02/15/2043
350‌
307‌
4.60%,
01/15/2031
155‌
155‌
4.85%,
01/31/2034
135‌
135‌
4.85%,
03/15/2044
385‌
353‌
4.95%,
02/15/2035
220‌
220‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
29
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Pipelines
(continued)
Enterprise
Products
Operating
LLC
(continued)
5.20%,
01/15/2036
$
190‌
$
191‌
5.55%,
02/16/2055
220‌
213‌
6.45%,
09/01/2040
490‌
538‌
6.88%,
03/01/2033
39‌
44‌
Kinder
Morgan
Energy
Partners
LP
4.70%,
11/01/2042
20‌
18‌
5.00%,
03/01/2043
275‌
250‌
Kinder
Morgan
Inc
2.00%,
02/15/2031
130‌
115‌
3.25%,
08/01/2050
130‌
87‌
3.60%,
02/15/2051
320‌
226‌
5.00%,
02/01/2029
335‌
339‌
5.05%,
02/15/2046
30‌
27‌
5.10%,
08/01/2029
150‌
152‌
5.20%,
06/01/2033
310‌
315‌
5.40%,
02/01/2034
335‌
343‌
5.55%,
06/01/2045
600‌
580‌
5.85%,
06/01/2035
290‌
304‌
5.95%,
08/01/2054
210‌
211‌
MPLX
LP
4.25%,
12/01/2027
300‌
299‌
4.50%,
04/15/2038
465‌
422‌
4.80%,
02/15/2031
155‌
155‌
5.00%,
01/15/2033
155‌
154‌
5.00%,
03/01/2033
160‌
160‌
5.30%,
04/01/2036
370‌
366‌
5.50%,
06/01/2034
200‌
203‌
5.50%,
02/15/2049
605‌
558‌
5.95%,
04/01/2055
150‌
146‌
6.20%,
09/15/2055
65‌
65‌
ONEOK
Inc
3.40%,
09/01/2029
350‌
336‌
4.25%,
09/24/2027
350‌
349‌
4.75%,
10/15/2031
335‌
333‌
5.40%,
10/15/2035
480‌
481‌
5.70%,
11/01/2054
285‌
266‌
5.85%,
11/01/2064
285‌
268‌
6.05%,
09/01/2033
315‌
332‌
6.25%,
10/15/2055
240‌
241‌
6.63%,
09/01/2053
155‌
162‌
Plains
All
American
Pipeline
LP
5.95%,
06/15/2035
210‌
217‌
Plains
All
American
Pipeline
LP
/
PAA
Finance
Corp
3.55%,
12/15/2029
485‌
468‌
4.70%,
06/15/2044
330‌
286‌
5.60%,
01/15/2036
155‌
156‌
Sabine
Pass
Liquefaction
LLC
4.20%,
03/15/2028
370‌
369‌
Targa
Resources
Corp
4.90%,
09/15/2030
325‌
327‌
5.20%,
07/01/2027
220‌
222‌
5.40%,
07/30/2036
145‌
145‌
5.65%,
02/15/2036
150‌
153‌
6.13%,
03/15/2033
160‌
169‌
6.13%,
05/15/2055
405‌
406‌
6.15%,
03/01/2029
145‌
151‌
6.50%,
03/30/2034
215‌
234‌
TransCanada
PipeLines
Ltd
4.25%,
05/15/2028
300‌
299‌
6.20%,
10/15/2037
350‌
372‌
7.63%,
01/15/2039
240‌
284‌
Western
Midstream
Operating
LP
4.80%,
03/01/2031
145‌
144‌
5.45%,
11/15/2034
290‌
291‌
6.15%,
04/01/2033
230‌
242‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Pipelines
(continued)
Williams
Cos
Inc/The
2.60%,
03/15/2031
$
160‌
$
145‌
3.50%,
10/15/2051
60‌
42‌
3.75%,
06/15/2027
195‌
194‌
4.63%,
06/30/2030
170‌
170‌
4.85%,
03/01/2048
350‌
305‌
4.90%,
03/15/2029
135‌
136‌
5.10%,
09/15/2045
120‌
110‌
5.15%,
03/15/2036
295‌
291‌
5.30%,
08/15/2028
250‌
255‌
5.30%,
09/30/2035
170‌
170‌
5.30%,
08/15/2052
65‌
60‌
5.65%,
03/15/2033
160‌
165‌
6.00%,
03/15/2055
310‌
311‌
6.30%,
04/15/2040
430‌
457‌
$
26,680‌
Private
Equity
-
0
.03
%
Brookfield
Finance
Inc
2.72%,
04/15/2031
60‌
55‌
3.50%,
03/30/2051
150‌
103‌
3.90%,
01/25/2028
350‌
346‌
5.33%,
01/15/2036
155‌
153‌
5.68%,
01/15/2035
130‌
132‌
Brookfield
Finance
LLC
/
Brookfield
Finance
Inc
3.45%,
04/15/2050
250‌
171‌
$
960‌
Regional
Authority
-
0
.33
%
Province
of
Alberta
Canada
1.30%,
07/22/2030
275‌
245‌
3.30%,
03/15/2028
170‌
168‌
4.30%,
11/02/2035
300‌
292‌
4.50%,
06/26/2029
250‌
253‌
Province
of
British
Columbia
Canada
1.30%,
01/29/2031
160‌
140‌
3.90%,
08/27/2030
405‌
400‌
4.05%,
04/23/2031
525‌
520‌
4.20%,
07/06/2033
315‌
309‌
4.70%,
01/24/2028
430‌
434‌
4.75%,
06/12/2034
250‌
253‌
4.80%,
11/15/2028
200‌
203‌
4.80%,
06/11/2035
300‌
303‌
Province
of
Manitoba
Canada
1.50%,
10/25/2028
85‌
80‌
4.30%,
07/27/2033
160‌
157‌
Province
of
Ontario
Canada
1.13%,
10/07/2030
300‌
263‌
2.13%,
01/21/2032
340‌
302‌
3.70%,
09/17/2029
265‌
261‌
3.80%,
01/29/2029
290‌
288‌
3.90%,
09/04/2030
155‌
153‌
4.05%,
04/16/2031
395‌
391‌
4.20%,
01/18/2029
360‌
361‌
4.45%,
11/20/2035
295‌
290‌
4.70%,
01/15/2030
305‌
310‌
4.85%,
06/11/2035
300‌
305‌
4.85%,
05/29/2036
290‌
294‌
Province
of
Quebec
Canada
1.35%,
05/28/2030
340‌
304‌
3.63%,
04/13/2028
320‌
317‌
3.88%,
01/14/2031
(a)
490‌
482‌
4.25%,
09/05/2034
405‌
396‌
4.50%,
04/03/2029
450‌
454‌
4.50%,
09/08/2033
160‌
160‌
4.63%,
08/28/2035
330‌
329‌
4.63%,
06/03/2036
(g)
295‌
293‌
7.50%,
09/15/2029
36‌
40‌
$
9,750‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
30
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
REITs
-
0
.72
%
Alexandria
Real
Estate
Equities
Inc
1.88%,
02/01/2033
$
240‌
$
195‌
2.75%,
12/15/2029
70‌
65‌
2.95%,
03/15/2034
65‌
55‌
4.90%,
12/15/2030
(a)
80‌
80‌
5.15%,
04/15/2053
160‌
141‌
5.25%,
03/15/2036
150‌
147‌
American
Homes
4
Rent
LP
4.95%,
06/15/2030
305‌
306‌
American
Tower
Corp
1.88%,
10/15/2030
175‌
156‌
2.90%,
01/15/2030
155‌
146‌
2.95%,
01/15/2051
60‌
38‌
3.70%,
10/15/2049
300‌
220‌
3.95%,
03/15/2029
200‌
197‌
4.70%,
12/15/2032
400‌
395‌
5.25%,
07/15/2028
160‌
162‌
5.35%,
03/15/2035
155‌
157‌
5.65%,
03/15/2033
160‌
166‌
5.90%,
11/15/2033
160‌
168‌
AvalonBay
Communities
Inc
1.90%,
12/01/2028
60‌
56‌
2.05%,
01/15/2032
60‌
53‌
2.30%,
03/01/2030
390‌
360‌
4.35%,
12/01/2030
145‌
144‌
5.00%,
02/15/2033
155‌
157‌
5.00%,
08/01/2035
150‌
149‌
5.35%,
06/01/2034
130‌
133‌
Boston
Properties
LP
2.55%,
04/01/2032
245‌
214‌
2.90%,
03/15/2030
370‌
345‌
Brixmor
Operating
Partnership
LP
5.38%,
06/15/2036
150‌
150‌
COPT
Defense
Properties
LP
2.75%,
04/15/2031
60‌
54‌
Crown
Castle
Inc
2.50%,
07/15/2031
60‌
53‌
2.90%,
04/01/2041
360‌
264‌
3.10%,
11/15/2029
125‌
119‌
3.25%,
01/15/2051
115‌
76‌
3.80%,
02/15/2028
430‌
425‌
4.00%,
11/15/2049
95‌
71‌
4.90%,
09/01/2029
145‌
146‌
5.00%,
01/11/2028
160‌
161‌
5.10%,
05/01/2033
350‌
348‌
CubeSmart
LP
2.00%,
02/15/2031
110‌
97‌
2.25%,
12/15/2028
60‌
57‌
5.13%,
11/01/2035
215‌
213‌
Digital
Realty
Trust
LP
5.55%,
01/15/2028
345‌
351‌
Equinix
Europe
2
Financing
Corp
LLC
4.70%,
03/15/2033
150‌
147‌
Equinix
Inc
1.80%,
07/15/2027
155‌
151‌
2.50%,
05/15/2031
460‌
413‌
3.20%,
11/18/2029
330‌
315‌
3.40%,
02/15/2052
60‌
41‌
ERP
Operating
LP
1.85%,
08/01/2031
295‌
259‌
4.65%,
09/15/2034
350‌
341‌
Essex
Portfolio
LP
1.70%,
03/01/2028
60‌
57‌
3.00%,
01/15/2030
140‌
132‌
4.00%,
03/01/2029
434‌
428‌
5.50%,
04/01/2034
135‌
138‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
REITs
(continued)
Extra
Space
Storage
LP
2.20%,
10/15/2030
$
75‌
$
67‌
2.40%,
10/15/2031
155‌
136‌
4.95%,
01/15/2033
155‌
154‌
5.40%,
02/01/2034
135‌
137‌
5.40%,
06/15/2035
200‌
202‌
5.50%,
07/01/2030
160‌
164‌
GLP
Capital
LP
/
GLP
Financing
II
Inc
4.00%,
01/15/2030
140‌
135‌
5.25%,
02/15/2033
155‌
152‌
Healthcare
Realty
Holdings
LP
2.00%,
03/15/2031
150‌
131‌
Healthpeak
OP
LLC
2.13%,
12/01/2028
210‌
198‌
3.00%,
01/15/2030
350‌
330‌
5.25%,
12/15/2032
280‌
283‌
Kilroy
Realty
LP
2.50%,
11/15/2032
160‌
133‌
Kimco
Realty
OP
LLC
2.25%,
12/01/2031
210‌
186‌
2.70%,
10/01/2030
160‌
149‌
3.70%,
10/01/2049
30‌
22‌
4.60%,
02/01/2033
165‌
163‌
5.30%,
02/01/2036
155‌
157‌
6.40%,
03/01/2034
180‌
196‌
Mid-America
Apartments
LP
1.70%,
02/15/2031
250‌
219‌
5.30%,
02/15/2032
130‌
134‌
NNN
REIT
Inc
4.60%,
02/15/2031
155‌
154‌
Prologis
LP
1.25%,
10/15/2030
160‌
139‌
1.75%,
07/01/2030
155‌
139‌
2.25%,
01/15/2032
60‌
53‌
2.88%,
11/15/2029
75‌
71‌
4.00%,
09/15/2028
200‌
198‌
4.63%,
01/15/2033
300‌
297‌
4.88%,
06/15/2028
160‌
162‌
4.90%,
06/15/2036
150‌
147‌
5.25%,
05/15/2035
155‌
157‌
5.25%,
03/15/2054
330‌
312‌
Public
Storage
Operating
Co
1.85%,
05/01/2028
115‌
110‌
2.25%,
11/09/2031
190‌
169‌
5.00%,
07/01/2035
155‌
155‌
5.10%,
08/01/2033
160‌
163‌
5.13%,
01/15/2029
(a)
160‌
163‌
Realty
Income
Corp
2.10%,
03/15/2028
60‌
58‌
2.20%,
06/15/2028
65‌
62‌
3.10%,
12/15/2029
300‌
286‌
3.25%,
01/15/2031
160‌
151‌
4.50%,
02/01/2033
160‌
156‌
4.75%,
02/15/2029
135‌
136‌
4.85%,
03/15/2030
160‌
162‌
4.90%,
07/15/2033
160‌
159‌
5.38%,
09/01/2054
305‌
294‌
Simon
Property
Group
LP
1.75%,
02/01/2028
280‌
269‌
2.45%,
09/13/2029
200‌
187‌
2.65%,
02/01/2032
385‌
344‌
4.30%,
01/15/2031
145‌
143‌
4.38%,
10/01/2030
155‌
154‌
4.75%,
09/26/2034
350‌
343‌
4.75%,
03/15/2042
164‌
149‌
Store
Capital
LLC
4.95%,
02/11/2031
135‌
134‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
31
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
REITs
(continued)
UDR
Inc
2.10%,
08/01/2032
$
100‌
$
85‌
3.20%,
01/15/2030
145‌
138‌
Ventas
Realty
LP
3.00%,
01/15/2030
250‌
236‌
5.00%,
02/15/2036
(a)
295‌
290‌
5.10%,
07/15/2032
155‌
156‌
5.63%,
07/01/2034
130‌
134‌
VICI
Properties
LP
4.75%,
04/01/2028
75‌
75‌
5.13%,
11/15/2031
440‌
440‌
Welltower
OP
LLC
2.75%,
01/15/2032
285‌
257‌
4.13%,
03/15/2029
300‌
298‌
4.50%,
07/01/2030
155‌
154‌
5.13%,
07/01/2035
305‌
307‌
WP
Carey
Inc
2.40%,
02/01/2031
65‌
58‌
4.65%,
07/15/2030
155‌
154‌
$
21,418‌
Retail
-
0
.54
%
AutoZone
Inc
1.65%,
01/15/2031
160‌
140‌
3.75%,
06/01/2027
200‌
199‌
3.75%,
04/18/2029
200‌
196‌
5.10%,
07/15/2029
260‌
264‌
Costco
Wholesale
Corp
1.38%,
06/20/2027
125‌
122‌
1.75%,
04/20/2032
420‌
365‌
Dollar
Tree
Inc
4.20%,
05/15/2028
130‌
129‌
Home
Depot
Inc/The
0.90%,
03/15/2028
(a)
55‌
52‌
1.88%,
09/15/2031
260‌
228‌
2.38%,
03/15/2051
55‌
31‌
2.75%,
09/15/2051
60‌
37‌
2.95%,
06/15/2029
500‌
481‌
3.13%,
12/15/2049
235‌
157‌
3.95%,
09/15/2030
(a)
155‌
152‌
4.20%,
04/01/2043
300‌
256‌
4.25%,
04/01/2046
430‌
359‌
4.40%,
03/15/2045
300‌
257‌
4.85%,
06/25/2031
(a)
150‌
153‌
4.88%,
06/25/2027
130‌
131‌
4.90%,
04/15/2029
135‌
137‌
4.95%,
06/25/2034
260‌
261‌
4.95%,
09/15/2052
85‌
76‌
5.30%,
06/25/2054
330‌
311‌
5.40%,
09/15/2040
250‌
253‌
5.88%,
12/16/2036
400‌
425‌
Lowe's
Cos
Inc
1.30%,
04/15/2028
130‌
123‌
1.70%,
10/15/2030
130‌
115‌
3.65%,
04/05/2029
135‌
132‌
3.70%,
04/15/2046
170‌
127‌
3.75%,
04/01/2032
215‌
204‌
4.00%,
10/15/2028
240‌
238‌
4.05%,
05/03/2047
300‌
235‌
4.25%,
04/01/2052
540‌
422‌
4.55%,
04/05/2049
135‌
112‌
4.85%,
10/15/2035
320‌
312‌
5.00%,
04/15/2033
130‌
131‌
5.00%,
04/15/2040
155‌
147‌
5.63%,
04/15/2053
380‌
365‌
5.75%,
07/01/2053
160‌
156‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Retail
(continued)
McDonald's
Corp
2.63%,
09/01/2029
$
140‌
$
133‌
3.50%,
07/01/2027
250‌
248‌
3.70%,
02/15/2042
300‌
242‌
4.45%,
03/01/2047
500‌
422‌
4.60%,
05/15/2030
320‌
322‌
4.95%,
08/14/2033
175‌
178‌
5.00%,
02/13/2036
155‌
155‌
5.15%,
09/09/2052
255‌
234‌
6.30%,
03/01/2038
200‌
218‌
O'Reilly
Automotive
Inc
1.75%,
03/15/2031
140‌
123‌
4.35%,
06/01/2028
300‌
300‌
Starbucks
Corp
3.00%,
02/14/2032
345‌
316‌
3.75%,
12/01/2047
370‌
276‌
4.30%,
06/15/2045
225‌
186‌
4.45%,
08/15/2049
220‌
181‌
4.80%,
02/15/2033
120‌
120‌
Target
Corp
2.35%,
02/15/2030
250‌
232‌
2.95%,
01/15/2052
325‌
207‌
4.50%,
09/15/2032
(a)
340‌
340‌
4.50%,
09/15/2034
(a)
305‌
297‌
4.80%,
01/15/2053
160‌
141‌
TJX
Cos
Inc/The
1.15%,
05/15/2028
65‌
61‌
1.60%,
05/15/2031
65‌
57‌
Walmart
Inc
1.50%,
09/22/2028
300‌
283‌
1.80%,
09/22/2031
305‌
270‌
2.50%,
09/22/2041
135‌
97‌
2.65%,
09/22/2051
105‌
65‌
3.90%,
04/15/2028
50‌
50‌
3.95%,
06/28/2038
340‌
314‌
4.00%,
04/15/2030
275‌
273‌
4.00%,
04/11/2043
250‌
214‌
4.05%,
06/29/2048
300‌
247‌
4.10%,
04/15/2033
275‌
269‌
4.15%,
04/30/2031
150‌
149‌
4.15%,
09/09/2032
200‌
198‌
4.50%,
09/09/2052
300‌
260‌
4.75%,
04/30/2036
150‌
149‌
4.90%,
04/28/2035
230‌
233‌
$
16,051‌
Semiconductors
-
0
.60
%
Analog
Devices
Inc
2.10%,
10/01/2031
290‌
256‌
2.80%,
10/01/2041
60‌
44‌
4.25%,
06/15/2028
160‌
160‌
4.50%,
06/15/2030
160‌
160‌
5.30%,
04/01/2054
125‌
120‌
Applied
Materials
Inc
4.35%,
04/01/2047
200‌
171‌
4.60%,
01/15/2036
160‌
155‌
4.80%,
06/15/2029
305‌
309‌
5.10%,
10/01/2035
(a)
250‌
254‌
Broadcom
Inc
3.14%,
11/15/2035
(e)
563‌
480‌
3.19%,
11/15/2036
(e)
590‌
494‌
3.42%,
04/15/2033
452‌
413‌
3.47%,
04/15/2034
625‌
562‌
3.50%,
02/15/2041
250‌
200‌
3.75%,
02/15/2051
570‌
426‌
4.15%,
11/15/2030
310‌
304‌
4.20%,
10/15/2030
340‌
335‌
4.30%,
11/15/2032
300‌
291‌
4.35%,
02/15/2030
210‌
209‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
32
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Semiconductors
(continued)
Broadcom
Inc
(continued)
4.55%,
02/15/2032
$
75‌
$
74‌
4.60%,
07/15/2030
230‌
230‌
4.60%,
01/15/2033
160‌
158‌
4.75%,
04/15/2029
355‌
358‌
4.80%,
02/15/2036
280‌
273‌
5.15%,
11/15/2031
235‌
240‌
5.20%,
04/15/2032
285‌
291‌
5.20%,
07/15/2035
430‌
433‌
5.70%,
01/15/2056
145‌
145‌
Intel
Corp
2.00%,
08/12/2031
285‌
249‌
2.45%,
11/15/2029
200‌
186‌
3.05%,
08/12/2051
60‌
38‌
3.20%,
08/12/2061
550‌
323‌
3.25%,
11/15/2049
250‌
164‌
3.73%,
12/08/2047
345‌
250‌
3.75%,
08/05/2027
65‌
65‌
4.00%,
08/05/2029
585‌
575‌
4.10%,
05/19/2046
410‌
320‌
4.15%,
08/05/2032
300‌
288‌
4.60%,
03/25/2040
155‌
140‌
4.65%,
06/01/2031
65‌
64‌
5.00%,
08/15/2033
150‌
149‌
5.20%,
02/10/2033
300‌
304‌
5.60%,
02/21/2054
200‌
188‌
5.63%,
02/10/2043
300‌
292‌
5.70%,
02/10/2053
385‌
366‌
6.13%,
05/15/2056
160‌
161‌
6.20%,
05/15/2066
150‌
151‌
KLA
Corp
4.70%,
02/01/2034
135‌
134‌
4.95%,
07/15/2052
240‌
218‌
Lam
Research
Corp
2.88%,
06/15/2050
500‌
321‌
Marvell
Technology
Inc
2.45%,
04/15/2028
115‌
111‌
4.75%,
07/15/2030
150‌
150‌
5.45%,
07/15/2035
115‌
118‌
Micron
Technology
Inc
2.70%,
04/15/2032
90‌
81‌
NVIDIA
Corp
1.55%,
06/15/2028
60‌
57‌
2.00%,
06/15/2031
135‌
121‌
3.50%,
04/01/2040
600‌
502‌
NXP
BV
/
NXP
Funding
LLC
/
NXP
USA
Inc
2.50%,
05/11/2031
115‌
103‌
3.13%,
02/15/2042
265‌
193‌
3.25%,
05/11/2041
60‌
46‌
4.30%,
08/19/2028
155‌
154‌
4.40%,
06/01/2027
480‌
480‌
QUALCOMM
Inc
1.65%,
05/20/2032
500‌
425‌
4.30%,
05/20/2047
350‌
290‌
4.50%,
05/20/2030
155‌
156‌
4.50%,
05/20/2052
165‌
138‌
4.80%,
05/20/2045
260‌
235‌
6.00%,
05/20/2053
155‌
161‌
Texas
Instruments
Inc
1.75%,
05/04/2030
400‌
362‌
4.15%,
05/15/2048
365‌
303‌
4.50%,
05/23/2030
155‌
156‌
4.60%,
02/15/2028
250‌
252‌
4.60%,
02/08/2029
225‌
227‌
4.90%,
03/14/2033
160‌
163‌
5.00%,
03/14/2053
160‌
147‌
5.15%,
02/08/2054
130‌
123‌
$
17,745‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Software
-
0
.82
%
Adobe
Inc
4.95%,
01/17/2030
$
535‌
$
544‌
Fidelity
National
Information
Services
Inc
1.65%,
03/01/2028
540‌
513‌
3.10%,
03/01/2041
55‌
40‌
4.45%,
03/10/2028
370‌
369‌
4.55%,
03/10/2029
135‌
134‌
4.80%,
03/10/2031
105‌
104‌
5.10%,
07/15/2032
275‌
276‌
Fiserv
Inc
3.50%,
07/01/2029
600‌
577‌
4.40%,
07/01/2049
590‌
453‌
4.75%,
03/15/2030
140‌
139‌
5.15%,
08/12/2034
70‌
68‌
5.25%,
08/11/2035
155‌
152‌
5.35%,
03/15/2031
125‌
126‌
5.45%,
03/02/2028
240‌
243‌
5.63%,
08/21/2033
155‌
157‌
Intuit
Inc
1.35%,
07/15/2027
160‌
155‌
5.13%,
09/15/2028
160‌
162‌
5.50%,
09/15/2053
220‌
199‌
Microsoft
Corp
1.35%,
09/15/2030
80‌
71‌
2.50%,
09/15/2050
160‌
95‌
2.53%,
06/01/2050
611‌
368‌
2.68%,
06/01/2060
549‌
308‌
2.92%,
03/17/2052
726‌
468‌
3.04%,
03/17/2062
630‌
387‌
3.45%,
08/08/2036
620‌
557‌
3.70%,
08/08/2046
500‌
396‌
Oracle
Corp
2.30%,
03/25/2028
115‌
110‌
2.88%,
03/25/2031
305‌
273‌
2.95%,
04/01/2030
655‌
605‌
3.25%,
11/15/2027
500‌
490‌
3.60%,
04/01/2040
355‌
263‌
3.60%,
04/01/2050
700‌
437‌
3.65%,
03/25/2041
325‌
238‌
3.80%,
11/15/2037
250‌
203‌
3.85%,
07/15/2036
340‌
285‌
3.90%,
05/15/2035
130‌
112‌
3.95%,
03/25/2051
115‌
76‌
4.00%,
07/15/2046
500‌
348‌
4.00%,
11/15/2047
75‌
51‌
4.10%,
03/25/2061
60‌
38‌
4.20%,
09/27/2029
135‌
132‌
4.30%,
07/08/2034
75‌
68‌
4.38%,
05/15/2055
150‌
103‌
4.45%,
09/26/2030
305‌
296‌
4.50%,
07/08/2044
50‌
38‌
4.55%,
02/04/2029
440‌
436‌
4.65%,
05/06/2030
530‌
522‌
4.70%,
09/27/2034
290‌
269‌
4.80%,
09/26/2032
165‌
159‌
4.95%,
02/04/2031
295‌
290‌
5.20%,
09/26/2035
325‌
309‌
5.25%,
02/03/2032
285‌
283‌
5.35%,
05/04/2033
295‌
290‌
5.38%,
09/27/2054
135‌
108‌
5.50%,
09/27/2064
135‌
107‌
5.55%,
02/06/2053
305‌
252‌
5.70%,
02/04/2036
295‌
290‌
5.88%,
09/26/2045
325‌
291‌
5.95%,
09/26/2055
455‌
398‌
6.00%,
08/03/2055
285‌
250‌
6.13%,
07/08/2039
60‌
59‌
6.13%,
08/03/2065
285‌
247‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
33
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Software
(continued)
Oracle
Corp
(continued)
6.15%,
11/09/2029
$
180‌
$
187‌
6.25%,
11/09/2032
360‌
374‌
6.55%,
02/04/2046
295‌
284‌
6.85%,
02/04/2066
295‌
283‌
6.90%,
11/09/2052
360‌
354‌
Roper
Technologies
Inc
1.40%,
09/15/2027
860‌
828‌
2.95%,
09/15/2029
400‌
379‌
4.25%,
09/15/2028
155‌
154‌
4.75%,
02/15/2032
80‌
79‌
4.90%,
10/15/2034
80‌
77‌
5.10%,
09/15/2035
155‌
151‌
Salesforce
Inc
1.95%,
07/15/2031
390‌
341‌
2.70%,
07/15/2041
265‌
183‌
2.90%,
07/15/2051
400‌
237‌
4.50%,
03/15/2028
440‌
440‌
4.90%,
09/15/2031
295‌
295‌
5.20%,
03/15/2033
295‌
297‌
5.55%,
03/15/2036
810‌
816‌
6.40%,
03/15/2046
295‌
301‌
6.55%,
03/15/2056
295‌
301‌
Synopsys
Inc
4.65%,
04/01/2028
300‌
301‌
4.85%,
04/01/2030
325‌
327‌
5.15%,
04/01/2035
300‌
300‌
5.70%,
04/01/2055
205‌
200‌
Take-Two
Interactive
Software
Inc
4.95%,
03/28/2028
360‌
363‌
VMware
LLC
1.80%,
08/15/2028
685‌
648‌
2.20%,
08/15/2031
115‌
102‌
$
24,389‌
Sovereign
-
1
.48
%
Canada
Government
International
Bond
3.75%,
04/26/2028
505‌
503‌
4.00%,
03/18/2030
335‌
334‌
4.25%,
05/28/2031
295‌
296‌
4.63%,
04/30/2029
450‌
457‌
Chile
Government
International
Bond
2.45%,
01/31/2031
500‌
454‌
2.55%,
01/27/2032
400‌
355‌
3.10%,
05/07/2041
400‌
304‌
3.24%,
02/06/2028
300‌
294‌
3.50%,
04/15/2053
200‌
141‌
3.86%,
06/21/2047
400‌
314‌
4.00%,
01/31/2052
200‌
156‌
4.95%,
01/05/2036
465‌
460‌
Export
Development
Canada
3.75%,
09/07/2027
265‌
264‌
3.88%,
02/14/2028
315‌
314‌
4.00%,
06/20/2030
300‌
299‌
4.13%,
02/13/2029
265‌
265‌
4.75%,
06/05/2034
250‌
257‌
Export-Import
Bank
of
Korea
1.38%,
02/09/2031
200‌
175‌
3.75%,
09/22/2030
300‌
293‌
4.00%,
09/11/2029
265‌
264‌
4.25%,
09/15/2027
200‌
200‌
4.50%,
09/15/2032
200‌
200‌
4.63%,
01/14/2028
200‌
201‌
5.13%,
09/18/2028
200‌
204‌
5.25%,
01/14/2035
200‌
208‌
Indonesia
Government
International
Bond
2.15%,
07/28/2031
200‌
176‌
2.85%,
02/14/2030
200‌
187‌
3.05%,
03/12/2051
200‌
128‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Sovereign
(continued)
Indonesia
Government
International
Bond
(continued)
3.50%,
01/11/2028
$
250‌
$
247‌
3.70%,
10/30/2049
200‌
147‌
4.20%,
10/15/2050
400‌
316‌
4.30%,
04/16/2031
200‌
197‌
4.35%,
02/21/2031
200‌
197‌
4.35%,
01/11/2048
400‌
330‌
4.55%,
01/11/2028
200‌
201‌
4.65%,
09/20/2032
200‌
197‌
4.75%,
02/11/2029
300‌
303‌
4.75%,
09/10/2034
200‌
194‌
4.90%,
04/16/2036
200‌
193‌
5.15%,
09/10/2054
(a)
200‌
185‌
5.48%,
02/21/2056
(a)
200‌
194‌
5.65%,
01/11/2053
200‌
196‌
Israel
Government
International
Bond
3.88%,
07/03/2050
200‌
144‌
4.13%,
01/17/2048
200‌
154‌
4.50%,
01/17/2033
200‌
193‌
4.50%,
01/30/2043
200‌
171‌
5.00%,
01/13/2036
300‌
293‌
5.38%,
02/19/2030
400‌
407‌
5.50%,
03/12/2034
400‌
407‌
5.75%,
03/12/2054
400‌
381‌
5.88%,
01/13/2056
300‌
290‌
Japan
Bank
for
International
Cooperation
1.25%,
01/21/2031
200‌
175‌
1.88%,
04/15/2031
400‌
357‌
2.13%,
02/16/2029
200‌
189‌
2.88%,
07/21/2027
330‌
326‌
3.88%,
07/03/2028
200‌
199‌
4.63%,
07/22/2027
230‌
232‌
4.63%,
07/19/2028
200‌
202‌
4.63%,
04/17/2034
200‌
200‌
4.88%,
10/18/2028
300‌
304‌
Japan
International
Cooperation
Agency
4.25%,
05/22/2030
200‌
200‌
4.38%,
05/28/2031
200‌
200‌
4.75%,
05/21/2029
400‌
405‌
Korea
International
Bond
1.00%,
09/16/2030
200‌
175‌
3.63%,
02/12/2029
400‌
395‌
3.63%,
10/29/2030
400‌
390‌
3.88%,
09/20/2048
250‌
209‌
Mexico
Government
International
Bond
2.66%,
05/24/2031
500‌
442‌
3.25%,
04/16/2030
400‌
374‌
3.50%,
02/12/2034
400‌
340‌
3.75%,
01/11/2028
225‌
221‌
3.75%,
04/19/2071
200‌
115‌
3.77%,
05/24/2061
200‌
120‌
4.50%,
04/22/2029
400‌
395‌
4.60%,
01/23/2046
200‌
154‌
4.60%,
02/10/2048
300‌
226‌
4.75%,
03/08/2044
250‌
201‌
5.38%,
03/22/2033
300‌
293‌
5.55%,
01/21/2045
360‌
325‌
5.63%,
02/09/2034
200‌
196‌
5.63%,
09/22/2035
300‌
290‌
5.75%,
10/12/2110
100‌
82‌
5.85%,
07/02/2032
450‌
452‌
6.00%,
05/07/2036
400‌
399‌
6.05%,
01/11/2040
700‌
683‌
6.13%,
02/09/2038
400‌
392‌
6.34%,
05/04/2053
500‌
468‌
6.35%,
02/09/2035
200‌
204‌
6.40%,
05/07/2054
275‌
257‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
34
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Sovereign
(continued)
Mexico
Government
International
Bond
(continued)
6.75%,
09/27/2034
$
350‌
$
371‌
6.75%,
02/09/2056
200‌
196‌
6.88%,
05/13/2037
480‌
502‌
7.38%,
05/13/2055
480‌
506‌
Panama
Government
International
Bond
2.25%,
09/29/2032
400‌
336‌
3.16%,
01/23/2030
300‌
284‌
3.30%,
01/19/2033
500‌
444‌
3.87%,
07/23/2060
200‌
137‌
3.88%,
03/17/2028
300‌
296‌
4.30%,
04/29/2053
200‌
154‌
4.50%,
04/16/2050
200‌
160‌
5.66%,
02/23/2038
200‌
200‌
6.70%,
01/26/2036
600‌
648‌
6.85%,
03/28/2054
200‌
215‌
Peruvian
Government
International
Bond
1.86%,
12/01/2032
60‌
50‌
2.78%,
01/23/2031
270‌
249‌
2.78%,
12/01/2060
310‌
169‌
3.30%,
03/11/2041
300‌
232‌
3.55%,
03/10/2051
60‌
42‌
5.50%,
03/30/2036
405‌
409‌
5.63%,
11/18/2050
(a)
300‌
290‌
5.88%,
08/08/2054
330‌
322‌
6.55%,
03/14/2037
400‌
440‌
8.75%,
11/21/2033
180‌
219‌
Philippine
Government
International
Bond
2.65%,
12/10/2045
200‌
127‌
3.00%,
02/01/2028
300‌
294‌
3.20%,
07/06/2046
400‌
278‌
3.70%,
03/01/2041
400‌
324‌
3.70%,
02/02/2042
250‌
200‌
4.25%,
07/27/2031
400‌
395‌
4.75%,
03/05/2035
265‌
255‌
5.00%,
07/17/2033
400‌
399‌
5.17%,
10/13/2027
250‌
253‌
5.50%,
02/04/2035
425‌
432‌
5.50%,
01/17/2048
200‌
192‌
5.60%,
05/14/2049
200‌
193‌
5.61%,
04/13/2033
250‌
259‌
7.75%,
01/14/2031
190‌
215‌
Republic
of
Italy
Government
International
Bond
2.88%,
10/17/2029
300‌
286‌
3.88%,
05/06/2051
400‌
290‌
5.38%,
06/15/2033
205‌
213‌
Republic
of
Poland
Government
International
Bond
4.88%,
02/12/2030
550‌
560‌
4.88%,
10/04/2033
320‌
320‌
5.13%,
09/18/2034
450‌
452‌
5.38%,
04/14/2036
300‌
301‌
5.50%,
03/18/2054
575‌
533‌
6.13%,
04/14/2056
150‌
150‌
State
of
Israel
2.50%,
01/15/2030
200‌
185‌
3.38%,
01/15/2050
200‌
133‌
Svensk
Exportkredit
AB
3.63%,
03/12/2029
300‌
296‌
3.75%,
09/13/2027
265‌
264‌
3.75%,
05/08/2028
345‌
343‌
3.75%,
07/29/2030
310‌
305‌
4.13%,
06/14/2028
320‌
320‌
Tennessee
Valley
Authority
3.50%,
12/15/2042
200‌
165‌
3.88%,
03/15/2028
275‌
275‌
4.25%,
09/15/2065
115‌
93‌
4.63%,
09/15/2060
200‌
175‌
4.88%,
05/15/2035
450‌
460‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Sovereign
(continued)
Tennessee
Valley
Authority
(continued)
5.25%,
09/15/2039
(a)
$
400‌
$
414‌
5.38%,
04/01/2056
196‌
196‌
5.88%,
04/01/2036
325‌
358‌
Uruguay
Government
International
Bond
4.13%,
11/20/2045
136‌
117‌
4.38%,
10/27/2027
133‌
133‌
4.98%,
04/20/2055
300‌
271‌
5.10%,
06/18/2050
300‌
278‌
5.44%,
02/14/2037
415‌
426‌
5.75%,
10/28/2034
330‌
346‌
7.63%,
03/21/2036
500‌
590‌
$
43,962‌
Supranational
Bank
-
1
.31
%
African
Development
Bank
3.50%,
09/18/2029
265‌
260‌
3.63%,
03/03/2031
145‌
141‌
3.88%,
06/12/2028
150‌
149‌
4.00%,
03/18/2030
(a)
290‌
289‌
4.13%,
01/22/2036
145‌
141‌
4.38%,
03/14/2028
320‌
322‌
Asian
Development
Bank
1.50%,
03/04/2031
115‌
102‌
1.75%,
09/19/2029
300‌
278‌
1.88%,
03/15/2029
135‌
127‌
2.75%,
01/19/2028
130‌
127‌
3.13%,
08/20/2027
450‌
445‌
3.13%,
04/27/2032
135‌
127‌
3.63%,
08/28/2029
395‌
389‌
3.75%,
04/25/2028
445‌
443‌
3.75%,
08/28/2030
385‌
379‌
3.88%,
09/28/2032
450‌
440‌
3.88%,
06/14/2033
320‌
312‌
4.00%,
01/12/2033
160‌
157‌
4.13%,
05/30/2030
470‌
470‌
4.25%,
05/28/2031
220‌
221‌
4.25%,
01/14/2036
290‌
286‌
4.38%,
01/14/2028
540‌
543‌
4.38%,
03/06/2029
325‌
328‌
4.38%,
03/22/2035
450‌
449‌
4.50%,
08/25/2028
580‌
586‌
5.82%,
06/16/2028
39‌
40‌
Asian
Infrastructure
Investment
Bank/The
3.63%,
09/15/2028
310‌
307‌
3.75%,
09/14/2027
255‌
254‌
3.88%,
04/22/2031
315‌
311‌
4.13%,
01/18/2029
270‌
270‌
4.13%,
01/14/2036
145‌
141‌
4.50%,
01/16/2030
280‌
284‌
4.50%,
05/21/2035
345‌
347‌
Council
Of
Europe
Development
Bank
3.63%,
01/26/2028
315‌
313‌
3.63%,
05/08/2028
345‌
342‌
4.00%,
05/21/2029
150‌
150‌
4.50%,
01/15/2030
210‌
213‌
4.63%,
06/11/2027
125‌
126‌
European
Bank
for
Reconstruction
&
Development
4.13%,
01/25/2029
435‌
435‌
4.25%,
05/29/2031
220‌
220‌
4.38%,
03/09/2028
505‌
508‌
European
Investment
Bank
1.25%,
02/14/2031
255‌
224‌
1.63%,
05/13/2031
60‌
53‌
3.25%,
11/15/2027
400‌
396‌
3.63%,
07/15/2030
520‌
510‌
3.75%,
05/15/2029
290‌
287‌
3.75%,
11/15/2029
510‌
504‌
3.75%,
03/13/2031
490‌
481‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
35
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Supranational
Bank
(continued)
European
Investment
Bank
(continued)
3.75%,
02/14/2033
$
615‌
$
596‌
3.88%,
03/15/2028
500‌
499‌
3.88%,
06/15/2028
650‌
648‌
3.88%,
10/15/2030
435‌
431‌
4.00%,
02/15/2029
1,100‌
1,098‌
4.13%,
02/13/2034
465‌
458‌
4.25%,
08/16/2032
455‌
455‌
4.25%,
02/08/2036
(a)
490‌
483‌
4.38%,
10/10/2031
550‌
555‌
4.50%,
03/14/2030
570‌
578‌
4.63%,
02/12/2035
455‌
463‌
4.75%,
06/15/2029
600‌
611‌
Inter-American
Development
Bank
1.13%,
07/20/2028
515‌
485‌
1.13%,
01/13/2031
420‌
367‌
3.13%,
09/18/2028
300‌
294‌
3.50%,
09/14/2029
300‌
294‌
3.50%,
04/12/2033
320‌
305‌
3.75%,
06/14/2030
305‌
301‌
4.00%,
01/12/2028
310‌
310‌
4.13%,
02/15/2029
465‌
466‌
4.13%,
01/23/2036
490‌
477‌
4.38%,
07/17/2034
250‌
250‌
4.38%,
07/16/2035
355‌
353‌
4.38%,
01/24/2044
50‌
46‌
4.50%,
02/15/2030
480‌
486‌
4.50%,
09/13/2033
320‌
323‌
International
Bank
for
Reconstruction
&
Development
0.75%,
11/24/2027
500‌
477‌
0.75%,
08/26/2030
515‌
448‌
1.25%,
02/10/2031
615‌
540‌
1.38%,
04/20/2028
565‌
538‌
1.63%,
11/03/2031
495‌
434‌
1.75%,
10/23/2029
750‌
695‌
2.50%,
03/29/2032
620‌
565‌
3.13%,
06/15/2027
500‌
496‌
3.50%,
07/12/2028
480‌
475‌
3.50%,
10/28/2030
640‌
624‌
3.63%,
05/05/2028
405‌
402‌
3.88%,
10/16/2029
270‌
268‌
3.88%,
02/14/2030
515‌
511‌
3.88%,
08/28/2034
330‌
319‌
4.00%,
07/25/2030
435‌
433‌
4.00%,
01/10/2031
475‌
472‌
4.00%,
05/06/2032
430‌
425‌
4.13%,
03/20/2030
605‌
605‌
4.38%,
08/27/2035
480‌
478‌
4.50%,
04/10/2031
375‌
381‌
4.50%,
05/20/2036
440‌
441‌
4.63%,
08/01/2028
480‌
486‌
4.63%,
01/15/2032
480‌
490‌
4.75%,
11/14/2033
280‌
287‌
International
Finance
Corp
3.50%,
01/22/2029
145‌
143‌
3.88%,
07/02/2030
300‌
297‌
4.25%,
07/02/2029
250‌
251‌
4.50%,
01/21/2028
355‌
358‌
Nordic
Investment
Bank
3.75%,
08/28/2028
200‌
199‌
3.75%,
05/09/2030
345‌
340‌
4.25%,
02/28/2029
200‌
201‌
$
38,938‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Telecommunications
-
0
.99
%
America
Movil
SAB
de
CV
2.88%,
05/07/2030
$
600‌
$
559‌
3.63%,
04/22/2029
400‌
389‌
4.38%,
04/22/2049
200‌
167‌
6.13%,
03/30/2040
380‌
398‌
AT&T
Inc
1.65%,
02/01/2028
200‌
191‌
2.25%,
02/01/2032
145‌
127‌
2.30%,
06/01/2027
750‌
736‌
2.75%,
06/01/2031
600‌
548‌
3.10%,
02/01/2043
145‌
105‌
3.50%,
06/01/2041
640‌
498‌
3.50%,
09/15/2053
802‌
530‌
3.55%,
09/15/2055
885‌
579‌
3.65%,
06/01/2051
355‌
246‌
3.65%,
09/15/2059
999‌
652‌
4.30%,
12/15/2042
250‌
208‌
4.35%,
03/01/2029
700‌
699‌
4.35%,
06/15/2045
300‌
244‌
4.40%,
04/30/2031
295‌
292‌
4.50%,
05/15/2035
350‌
332‌
4.50%,
03/09/2048
500‌
404‌
4.75%,
04/30/2033
145‌
143‌
4.90%,
11/01/2035
240‌
234‌
5.25%,
10/30/2036
385‌
381‌
5.38%,
08/15/2035
155‌
157‌
5.40%,
02/15/2034
320‌
327‌
5.55%,
11/01/2045
415‌
395‌
5.85%,
04/30/2046
145‌
142‌
6.05%,
08/15/2056
205‌
203‌
6.30%,
10/30/2066
300‌
301‌
Bell
Telephone
Co
of
Canada
or
Bell
Canada
5.20%,
02/15/2034
130‌
131‌
Cisco
Systems
Inc
4.75%,
02/24/2030
145‌
147‌
4.85%,
02/26/2029
265‌
269‌
4.95%,
02/24/2032
460‌
468‌
5.05%,
02/26/2034
440‌
446‌
5.30%,
02/26/2054
265‌
252‌
5.50%,
01/15/2040
310‌
317‌
5.90%,
02/15/2039
170‌
181‌
Juniper
Networks
Inc
2.00%,
12/10/2030
55‌
48‌
Motorola
Solutions
Inc
4.85%,
08/15/2030
155‌
156‌
5.20%,
08/15/2032
155‌
157‌
Orange
SA
5.38%,
01/13/2042
30‌
29‌
Rogers
Communications
Inc
3.80%,
03/15/2032
265‌
248‌
5.00%,
02/15/2029
130‌
131‌
7.50%,
08/15/2038
250‌
285‌
Sprint
Capital
Corp
6.88%,
11/15/2028
320‌
337‌
Telefonica
Emisiones
SA
5.21%,
03/08/2047
550‌
489‌
7.05%,
06/20/2036
305‌
338‌
T-Mobile
USA
Inc
2.05%,
02/15/2028
190‌
183‌
2.25%,
11/15/2031
150‌
132‌
2.40%,
03/15/2029
25‌
24‌
2.55%,
02/15/2031
600‌
546‌
3.00%,
02/15/2041
150‌
111‌
3.30%,
02/15/2051
355‌
235‌
3.38%,
04/15/2029
265‌
257‌
3.40%,
10/15/2052
235‌
156‌
3.88%,
04/15/2030
365‌
355‌
4.20%,
10/01/2029
135‌
134‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
36
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Telecommunications
(continued)
T-Mobile
USA
Inc
(continued)
4.38%,
04/15/2040
$
345‌
$
306‌
4.50%,
04/15/2050
300‌
245‌
4.80%,
07/15/2028
160‌
161‌
4.95%,
03/15/2028
95‌
96‌
4.95%,
11/15/2035
140‌
138‌
5.00%,
02/15/2036
145‌
143‌
5.05%,
07/15/2033
425‌
428‌
5.13%,
05/15/2032
305‌
309‌
5.15%,
04/15/2034
305‌
308‌
5.20%,
01/15/2033
160‌
163‌
5.25%,
06/15/2055
135‌
121‌
5.50%,
01/15/2055
135‌
126‌
5.65%,
01/15/2053
360‌
343‌
5.70%,
01/15/2056
155‌
149‌
5.75%,
01/15/2034
160‌
167‌
5.75%,
01/15/2054
160‌
155‌
6.00%,
06/15/2054
160‌
160‌
Verizon
Communications
Inc
1.50%,
09/18/2030
420‌
371‌
1.68%,
10/30/2030
185‌
164‌
1.75%,
01/20/2031
135‌
119‌
2.10%,
03/22/2028
175‌
168‌
2.36%,
03/15/2032
580‌
509‌
2.55%,
03/21/2031
315‌
287‌
2.65%,
11/20/2040
750‌
535‌
2.88%,
11/20/2050
505‌
312‌
2.99%,
10/30/2056
89‌
53‌
3.00%,
11/20/2060
65‌
38‌
3.40%,
03/22/2041
715‌
556‌
3.55%,
03/22/2051
815‌
574‌
3.70%,
03/22/2061
760‌
516‌
3.85%,
11/01/2042
(a)
90‌
73‌
4.02%,
12/03/2029
400‌
394‌
4.33%,
09/21/2028
510‌
510‌
4.40%,
11/01/2034
300‌
286‌
4.50%,
08/10/2033
300‌
292‌
4.67%,
03/15/2055
345‌
284‌
4.75%,
01/15/2033
145‌
144‌
4.81%,
03/15/2039
410‌
385‌
4.86%,
08/21/2046
300‌
264‌
5.00%,
01/15/2036
90‌
88‌
5.25%,
04/02/2035
500‌
503‌
5.75%,
11/30/2045
285‌
281‌
5.88%,
11/30/2055
225‌
221‌
6.00%,
11/30/2065
145‌
143‌
6.20%,
05/14/2056
(f)
150‌
152‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.04%
Vodafone
Group
PLC
5.63%,
02/10/2053
160‌
151‌
5.75%,
06/28/2054
330‌
316‌
5.88%,
06/28/2064
205‌
197‌
6.15%,
02/27/2037
86‌
92‌
$
29,245‌
Transportation
-
0
.43
%
Burlington
Northern
Santa
Fe
LLC
3.05%,
02/15/2051
600‌
391‌
3.55%,
02/15/2050
155‌
112‌
4.15%,
04/01/2045
200‌
166‌
4.40%,
03/15/2042
30‌
27‌
4.45%,
01/15/2053
40‌
33‌
5.20%,
04/15/2054
160‌
149‌
5.40%,
06/01/2041
360‌
363‌
5.50%,
03/15/2055
330‌
321‌
5.80%,
03/15/2056
155‌
157‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Transportation
(continued)
Canadian
National
Railway
Co
3.65%,
02/03/2048
$
300‌
$
226‌
3.85%,
08/05/2032
200‌
191‌
4.38%,
09/18/2034
305‌
296‌
4.75%,
11/12/2035
145‌
143‌
4.95%,
05/12/2036
150‌
149‌
Canadian
Pacific
Railway
Co
3.10%,
12/02/2051
450‌
294‌
4.80%,
03/30/2030
(a)
405‌
409‌
5.50%,
03/15/2056
150‌
145‌
6.13%,
09/15/2115
75‌
78‌
CSX
Corp
2.40%,
02/15/2030
60‌
56‌
3.35%,
09/15/2049
60‌
42‌
3.80%,
03/01/2028
75‌
74‌
3.80%,
04/15/2050
700‌
531‌
4.30%,
03/01/2048
200‌
165‌
4.50%,
11/15/2052
160‌
135‌
4.90%,
03/15/2055
335‌
299‌
5.05%,
06/15/2035
155‌
156‌
5.20%,
11/15/2033
160‌
164‌
FedEx
Corp
3.10%,
08/05/2029
800‌
766‌
3.88%,
08/01/2042
30‌
24‌
4.55%,
04/01/2046
535‌
452‌
5.10%,
01/15/2044
295‌
271‌
Fedex
Freight
Holding
Co
Inc
4.65%,
03/15/2031
(a),(e)
105‌
103‌
4.95%,
03/15/2033
(e)
145‌
142‌
Norfolk
Southern
Corp
2.30%,
05/15/2031
60‌
54‌
2.55%,
11/01/2029
150‌
141‌
2.90%,
08/25/2051
60‌
37‌
3.94%,
11/01/2047
192‌
150‌
4.05%,
08/15/2052
200‌
154‌
4.45%,
03/01/2033
160‌
157‌
4.55%,
06/01/2053
455‌
381‌
4.84%,
10/01/2041
180‌
168‌
5.35%,
08/01/2054
125‌
118‌
Ryder
System
Inc
4.30%,
06/15/2027
20‌
20‌
4.95%,
09/01/2029
290‌
293‌
Union
Pacific
Corp
2.38%,
05/20/2031
385‌
349‌
2.80%,
02/14/2032
110‌
100‌
2.89%,
04/06/2036
140‌
118‌
2.97%,
09/16/2062
90‌
53‌
3.20%,
05/20/2041
60‌
47‌
3.38%,
02/14/2042
65‌
51‌
3.80%,
10/01/2051
310‌
232‌
3.80%,
04/06/2071
590‌
407‌
3.84%,
03/20/2060
220‌
159‌
4.00%,
04/15/2047
250‌
199‌
4.50%,
01/20/2033
130‌
130‌
4.95%,
09/09/2052
130‌
118‌
5.60%,
12/01/2054
145‌
144‌
United
Parcel
Service
Inc
2.50%,
09/01/2029
125‌
118‌
3.40%,
09/01/2049
180‌
127‌
4.65%,
10/15/2030
155‌
156‌
4.88%,
03/03/2033
410‌
416‌
4.88%,
11/15/2040
30‌
29‌
5.05%,
03/03/2053
410‌
369‌
5.15%,
05/22/2034
130‌
133‌
5.50%,
05/22/2054
130‌
125‌
5.95%,
05/14/2055
205‌
210‌
6.20%,
01/15/2038
200‌
218‌
$
12,711‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
37
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Trucking
&
Leasing
-
0
.02
%
GATX
Corp
1.90%,
06/01/2031
$
115‌
$
100‌
5.50%,
06/15/2035
315‌
319‌
6.05%,
06/05/2054
170‌
172‌
$
591‌
Water
-
0
.06
%
American
Water
Capital
Corp
2.30%,
06/01/2031
360‌
323‌
3.25%,
06/01/2051
300‌
201‌
3.75%,
09/01/2047
340‌
259‌
4.45%,
06/01/2032
130‌
128‌
4.63%,
06/01/2029
150‌
151‌
5.70%,
09/01/2055
70‌
69‌
6.59%,
10/15/2037
13‌
15‌
Essential
Utilities
Inc
2.40%,
05/01/2031
180‌
161‌
5.25%,
08/15/2035
155‌
155‌
5.30%,
05/01/2052
65‌
59‌
5.38%,
01/15/2034
135‌
137‌
$
1,658‌
TOTAL
BONDS
$
794,566‌
MUNICIPAL
BONDS
-
0
.09
%
Principal
Amount
(000's)
Value
(000's)
California
-
0
.03
%
Bay
Area
Toll
Authority
6.26%,
04/01/2049
$
175‌
$
182‌
6.91%,
10/01/2050
125‌
139‌
California
State
University
2.98%,
11/01/2051
155‌
105‌
Regents
of
the
University
of
California
Medical
Center
Pooled
Revenue
6.55%,
05/15/2048
20‌
21‌
State
of
California
3.50%,
04/01/2028
115‌
114‌
7.30%,
10/01/2039
300‌
343‌
$
904‌
Georgia
-
0
.00
%
Municipal
Electric
Authority
of
Georgia
6.64%,
04/01/2057
143‌
153‌
Illinois
-
0
.03
%
Chicago
Transit
Authority
Sales
&
Transfer
Tax
Receipts
Revenue
6.90%,
12/01/2040
267‌
297‌
Chicago
Transit
Authority
Sales
Tax
Receipts
Fund
6.20%,
12/01/2040
29‌
30‌
State
of
Illinois
5.10%,
06/01/2033
611‌
618‌
$
945‌
New
Jersey
-
0
.01
%
New
Jersey
Economic
Development
Authority
(credit
support
from
National
Public
Finance
Guarantee
Corp
)
7.43%,
02/15/2029
(j)
185‌
193‌
New
Jersey
Transportation
Trust
Fund
Authority
6.56%,
12/15/2040
146‌
160‌
$
353‌
New
York
-
0
.01
%
Port
Authority
of
New
York
&
New
Jersey
4.46%,
10/01/2062
250‌
207‌
Texas
-
0
.01
%
Dallas
Area
Rapid
Transit
5.02%,
12/01/2048
30‌
28‌
State
of
Texas
4.68%,
04/01/2040
160‌
150‌
$
178‌
TOTAL
MUNICIPAL
BONDS
$
2,740‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
-
70
.69
%
Principal
Amount
(000's)
Value
(000's)
Federal
Home
Loan
Mortgage
Corporation
(FHLMC)
-
0
.18
%
2.00%,
09/01/2031
$
39‌
$
37‌
2.00%,
12/01/2031
42‌
40‌
2.50%,
01/01/2031
71‌
69‌
2.50%,
02/01/2031
70‌
68‌
2.50%,
12/01/2031
133‌
128‌
2.50%,
01/01/2032
144‌
139‌
2.50%,
03/01/2032
45‌
43‌
2.50%,
11/01/2036
36‌
33‌
3.00%,
11/01/2028
31‌
30‌
3.00%,
04/01/2029
32‌
31‌
3.00%,
09/01/2029
33‌
32‌
3.00%,
10/01/2029
50‌
49‌
3.00%,
11/01/2029
24‌
23‌
3.00%,
01/01/2030
22‌
21‌
3.00%,
11/01/2030
26‌
25‌
3.00%,
03/01/2031
17‌
16‌
3.00%,
05/01/2032
89‌
86‌
3.00%,
03/01/2033
30‌
29‌
3.00%,
04/01/2033
15‌
14‌
3.00%,
09/01/2036
29‌
27‌
3.00%,
09/01/2036
53‌
50‌
3.00%,
02/01/2037
58‌
55‌
3.00%,
10/01/2042
128‌
117‌
3.00%,
11/01/2042
198‌
179‌
3.00%,
02/01/2043
194‌
177‌
3.00%,
08/01/2043
256‌
234‌
3.00%,
09/01/2043
54‌
49‌
3.00%,
10/01/2043
43‌
39‌
3.00%,
01/01/2045
52‌
47‌
3.00%,
06/01/2046
103‌
93‌
3.00%,
10/01/2046
61‌
55‌
3.00%,
02/01/2047
109‌
98‌
3.50%,
12/01/2031
56‌
55‌
3.50%,
05/01/2034
22‌
21‌
3.50%,
11/01/2034
28‌
27‌
3.50%,
01/01/2035
58‌
56‌
3.50%,
04/01/2037
23‌
22‌
3.50%,
06/01/2042
161‌
152‌
3.50%,
02/01/2045
33‌
30‌
3.50%,
03/01/2045
87‌
81‌
3.50%,
06/01/2045
93‌
87‌
3.50%,
06/01/2046
115‌
107‌
4.00%,
12/01/2030
4‌
4‌
4.00%,
11/01/2033
39‌
39‌
4.00%,
07/01/2034
29‌
28‌
4.00%,
04/01/2038
59‌
57‌
4.00%,
12/01/2040
70‌
68‌
4.00%,
02/01/2044
59‌
56‌
4.00%,
04/01/2044
66‌
63‌
4.00%,
07/01/2044
83‌
80‌
4.00%,
09/01/2044
28‌
27‌
4.00%,
11/01/2044
102‌
98‌
4.00%,
01/01/2045
89‌
86‌
4.00%,
08/01/2045
123‌
118‌
4.00%,
12/01/2045
22‌
21‌
4.00%,
02/01/2046
34‌
32‌
4.00%,
05/01/2046
78‌
74‌
4.50%,
10/01/2030
19‌
19‌
4.50%,
05/01/2031
2‌
2‌
4.50%,
05/01/2049
1,151‌
1,126‌
5.50%,
06/01/2034
35‌
35‌
5.50%,
07/01/2038
40‌
41‌
5.50%,
07/01/2038
34‌
35‌
5.50%,
12/01/2038
70‌
72‌
5.50%,
10/01/2039
114‌
115‌
5.50%,
06/01/2041
43‌
44‌
6.00%,
04/01/2038
213‌
224‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
38
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Federal
Home
Loan
Mortgage
Corporation
(FHLMC)
(continued)
6.00%,
11/01/2038
$
41‌
$
43‌
$
5,378‌
Federal
National
Mortgage
Association
(FNMA)/Federal
Home
Loan
Mortgage
Corporation
(FHLMC)
Uniform
Mortgage-Backed
Security
-
18
.54
%
1.50%,
12/01/2035
1,598‌
1,445‌
1.50%,
03/01/2036
901‌
810‌
1.50%,
05/01/2036
3,128‌
2,819‌
1.50%,
05/01/2036
982‌
889‌
1.50%,
11/01/2036
694‌
627‌
1.50%,
12/01/2036
1,833‌
1,647‌
1.50%,
05/01/2037
644‌
578‌
1.50%,
11/01/2050
655‌
503‌
1.50%,
01/01/2051
3,252‌
2,488‌
1.50%,
06/01/2051
1,513‌
1,159‌
2.00%,
09/01/2029
44‌
43‌
2.00%,
05/01/2030
20‌
20‌
2.00%,
12/01/2031
58‌
55‌
2.00%,
02/01/2032
38‌
36‌
2.00%,
02/01/2036
1,106‌
1,017‌
2.00%,
02/01/2036
2,455‌
2,261‌
2.00%,
03/01/2036
1,955‌
1,801‌
2.00%,
04/01/2036
4,428‌
4,085‌
2.00%,
09/01/2036
2,450‌
2,252‌
2.00%,
02/01/2037
5,120‌
4,702‌
2.00%,
03/01/2037
2,223‌
2,044‌
2.00%,
05/01/2042
2,286‌
1,974‌
2.00%,
08/01/2042
3,790‌
3,285‌
2.00%,
12/01/2050
12,709‌
10,260‌
2.00%,
02/01/2051
1,821‌
1,480‌
2.00%,
02/01/2051
6,637‌
5,363‌
2.00%,
02/01/2051
5,840‌
4,718‌
2.00%,
03/01/2051
3,715‌
2,992‌
2.00%,
04/01/2051
1,923‌
1,575‌
2.00%,
04/01/2051
6,686‌
5,454‌
2.00%,
04/01/2051
4,491‌
3,671‌
2.00%,
04/01/2051
9,834‌
8,041‌
2.00%,
05/01/2051
4,697‌
3,789‌
2.00%,
07/01/2051
6,892‌
5,552‌
2.00%,
10/01/2051
3,380‌
2,745‌
2.00%,
11/01/2051
5,076‌
4,083‌
2.00%,
11/01/2051
1,433‌
1,170‌
2.00%,
12/01/2051
2,339‌
1,906‌
2.00%,
12/01/2051
2,862‌
2,324‌
2.00%,
12/01/2051
4,786‌
3,901‌
2.00%,
01/01/2052
9,911‌
8,093‌
2.00%,
01/01/2052
4,085‌
3,282‌
2.00%,
01/01/2052
1,805‌
1,468‌
2.00%,
02/01/2052
2,493‌
2,011‌
2.00%,
02/01/2052
2,364‌
1,932‌
2.00%,
03/01/2052
3,996‌
3,252‌
2.00%,
04/01/2052
9,118‌
7,428‌
2.00%,
04/01/2052
1,772‌
1,451‌
2.00%,
04/01/2052
1,118‌
914‌
2.00%,
08/01/2052
1,476‌
1,188‌
2.00%,
10/01/2052
4,128‌
3,318‌
2.00%,
12/01/2053
1,921‌
1,546‌
2.50%,
01/01/2028
12‌
12‌
2.50%,
11/01/2028
42‌
41‌
2.50%,
09/01/2029
37‌
36‌
2.50%,
05/01/2030
49‌
47‌
2.50%,
08/01/2030
74‌
72‌
2.50%,
03/01/2031
62‌
59‌
2.50%,
11/01/2031
143‌
137‌
2.50%,
12/01/2031
27‌
26‌
2.50%,
01/01/2032
40‌
38‌
2.50%,
03/01/2032
48‌
46‌
2.50%,
07/01/2033
5‌
4‌
2.50%,
02/01/2035
756‌
712‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Federal
National
Mortgage
Association
(FNMA)/Federal
Home
Loan
Mortgage
Corporation
(FHLMC)
Uniform
Mortgage-Backed
Security
(continued)
2.50%,
06/01/2035
$
1,632‌
$
1,544‌
2.50%,
10/01/2036
35‌
33‌
2.50%,
10/01/2036
15‌
14‌
2.50%,
12/01/2036
48‌
44‌
2.50%,
01/01/2037
1,977‌
1,867‌
2.50%,
04/01/2037
906‌
860‌
2.50%,
04/01/2042
3,513‌
3,126‌
2.50%,
01/01/2043
43‌
39‌
2.50%,
05/01/2043
66‌
58‌
2.50%,
10/01/2043
53‌
47‌
2.50%,
08/01/2046
35‌
31‌
2.50%,
12/01/2046
95‌
82‌
2.50%,
10/01/2050
549‌
467‌
2.50%,
11/01/2050
517‌
442‌
2.50%,
02/01/2051
1,786‌
1,524‌
2.50%,
02/01/2051
4,883‌
4,199‌
2.50%,
04/01/2051
2,714‌
2,293‌
2.50%,
07/01/2051
1,018‌
870‌
2.50%,
07/01/2051
502‌
424‌
2.50%,
10/01/2051
4,112‌
3,462‌
2.50%,
11/01/2051
2,143‌
1,840‌
2.50%,
11/01/2051
4,884‌
4,169‌
2.50%,
01/01/2052
1,460‌
1,241‌
2.50%,
02/01/2052
1,772‌
1,518‌
2.50%,
02/01/2052
4,642‌
3,908‌
2.50%,
02/01/2052
2,363‌
1,993‌
2.50%,
02/01/2052
9,295‌
7,946‌
2.50%,
02/01/2052
1,764‌
1,514‌
2.50%,
03/01/2052
2,451‌
2,062‌
2.50%,
03/01/2052
1,854‌
1,583‌
2.50%,
03/01/2052
9,093‌
7,761‌
2.50%,
04/01/2052
1,227‌
1,036‌
2.50%,
04/01/2052
3,057‌
2,575‌
2.50%,
04/01/2052
6,531‌
5,572‌
2.50%,
04/01/2052
6,441‌
5,419‌
2.50%,
04/01/2052
8,730‌
7,432‌
2.50%,
05/01/2052
2,553‌
2,190‌
2.50%,
10/01/2053
2,191‌
1,850‌
2.50%,
01/01/2054
4,689‌
3,940‌
3.00%,
04/01/2027
4‌
4‌
3.00%,
01/01/2029
12‌
12‌
3.00%,
02/01/2029
15‌
15‌
3.00%,
12/01/2029
13‌
12‌
3.00%,
12/01/2029
11‌
11‌
3.00%,
01/01/2030
68‌
67‌
3.00%,
01/01/2030
83‌
81‌
3.00%,
06/01/2030
45‌
44‌
3.00%,
09/01/2030
20‌
19‌
3.00%,
10/01/2030
83‌
81‌
3.00%,
11/01/2030
71‌
69‌
3.00%,
12/01/2030
17‌
17‌
3.00%,
03/01/2031
54‌
52‌
3.00%,
04/01/2031
18‌
18‌
3.00%,
09/01/2031
95‌
92‌
3.00%,
12/01/2031
42‌
40‌
3.00%,
01/01/2033
13‌
12‌
3.00%,
04/01/2033
13‌
13‌
3.00%,
08/01/2034
125‌
120‌
3.00%,
05/01/2035
147‌
140‌
3.00%,
09/01/2035
914‌
870‌
3.00%,
05/01/2037
2,300‌
2,208‌
3.00%,
06/01/2040
306‌
283‌
3.00%,
04/01/2043
97‌
88‌
3.00%,
05/01/2043
221‌
202‌
3.00%,
05/01/2043
45‌
41‌
3.00%,
05/01/2043
67‌
61‌
3.00%,
07/01/2043
227‌
206‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
39
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Federal
National
Mortgage
Association
(FNMA)/Federal
Home
Loan
Mortgage
Corporation
(FHLMC)
Uniform
Mortgage-Backed
Security
(continued)
3.00%,
07/01/2043
$
45‌
$
41‌
3.00%,
08/01/2043
245‌
223‌
3.00%,
10/01/2043
139‌
126‌
3.00%,
11/01/2043
63‌
58‌
3.00%,
01/01/2045
312‌
284‌
3.00%,
05/01/2046
41‌
37‌
3.00%,
10/01/2046
273‌
244‌
3.00%,
10/01/2049
1,349‌
1,196‌
3.00%,
11/01/2049
1,067‌
951‌
3.00%,
03/01/2050
2,463‌
2,190‌
3.00%,
06/01/2050
1,637‌
1,447‌
3.00%,
10/01/2050
2,400‌
2,104‌
3.00%,
07/01/2051
9,473‌
8,407‌
3.00%,
11/01/2051
435‌
382‌
3.00%,
02/01/2052
1,794‌
1,601‌
3.00%,
03/01/2052
1,565‌
1,370‌
3.00%,
03/01/2052
5,677‌
5,012‌
3.00%,
03/01/2052
364‌
323‌
3.00%,
04/01/2052
1,525‌
1,360‌
3.00%,
05/01/2052
2,468‌
2,184‌
3.00%,
05/01/2052
8,036‌
7,024‌
3.00%,
05/01/2052
1,445‌
1,272‌
3.00%,
06/01/2052
1,549‌
1,366‌
3.00%,
06/01/2052
6,234‌
5,494‌
3.50%,
12/01/2026
4‌
3‌
3.50%,
03/01/2029
35‌
34‌
3.50%,
09/01/2029
26‌
26‌
3.50%,
11/01/2030
34‌
33‌
3.50%,
04/01/2032
5‌
5‌
3.50%,
07/01/2032
4‌
4‌
3.50%,
09/01/2032
5‌
5‌
3.50%,
12/01/2032
616‌
603‌
3.50%,
10/01/2033
3‌
3‌
3.50%,
05/01/2034
18‌
17‌
3.50%,
06/01/2034
13‌
12‌
3.50%,
07/01/2034
76‌
73‌
3.50%,
10/01/2034
20‌
19‌
3.50%,
02/01/2036
23‌
23‌
3.50%,
02/01/2037
18‌
18‌
3.50%,
05/01/2037
25‌
24‌
3.50%,
05/01/2037
1,094‌
1,062‌
3.50%,
03/01/2041
10‌
9‌
3.50%,
03/01/2042
23‌
22‌
3.50%,
06/01/2042
141‌
133‌
3.50%,
07/01/2042
22‌
21‌
3.50%,
04/01/2043
188‌
176‌
3.50%,
05/01/2043
129‌
120‌
3.50%,
08/01/2043
135‌
126‌
3.50%,
01/01/2044
568‌
532‌
3.50%,
01/01/2044
47‌
44‌
3.50%,
09/01/2044
2,945‌
2,763‌
3.50%,
10/01/2044
71‌
66‌
3.50%,
12/01/2044
123‌
114‌
3.50%,
11/01/2045
91‌
84‌
3.50%,
12/01/2045
11‌
10‌
3.50%,
12/01/2045
112‌
104‌
3.50%,
01/01/2046
138‌
128‌
3.50%,
03/01/2046
33‌
31‌
3.50%,
12/01/2046
102‌
95‌
3.50%,
01/01/2048
669‌
617‌
3.50%,
08/01/2049
740‌
680‌
3.50%,
11/01/2049
1,382‌
1,282‌
3.50%,
12/01/2049
1,036‌
965‌
3.50%,
01/01/2050
5,203‌
4,779‌
3.50%,
01/01/2052
4,254‌
3,913‌
3.50%,
06/01/2052
759‌
699‌
3.50%,
06/01/2052
1,169‌
1,066‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Federal
National
Mortgage
Association
(FNMA)/Federal
Home
Loan
Mortgage
Corporation
(FHLMC)
Uniform
Mortgage-Backed
Security
(continued)
3.50%,
07/01/2052
$
780‌
$
710‌
3.50%,
07/01/2052
8,603‌
7,916‌
3.50%,
08/01/2052
3,066‌
2,827‌
3.50%,
10/01/2052
2,368‌
2,154‌
4.00%,
04/01/2029
1‌
1‌
4.00%,
12/01/2030
2‌
2‌
4.00%,
03/01/2031
2‌
2‌
4.00%,
11/01/2031
3‌
3‌
4.00%,
11/01/2033
70‌
69‌
4.00%,
10/01/2034
42‌
41‌
4.00%,
02/01/2036
74‌
72‌
4.00%,
01/01/2037
24‌
23‌
4.00%,
10/01/2037
455‌
442‌
4.00%,
10/01/2037
34‌
32‌
4.00%,
03/01/2038
13‌
12‌
4.00%,
07/01/2038
47‌
46‌
4.00%,
12/01/2038
33‌
32‌
4.00%,
01/01/2039
44‌
42‌
4.00%,
01/01/2041
29‌
28‌
4.00%,
02/01/2041
10‌
10‌
4.00%,
12/01/2041
46‌
44‌
4.00%,
06/01/2042
78‌
75‌
4.00%,
06/01/2042
46‌
45‌
4.00%,
07/01/2042
230‌
223‌
4.00%,
12/01/2042
83‌
80‌
4.00%,
09/01/2044
40‌
38‌
4.00%,
11/01/2044
37‌
35‌
4.00%,
10/01/2049
1,378‌
1,308‌
4.00%,
11/01/2049
567‌
539‌
4.00%,
04/01/2050
1,087‌
1,031‌
4.00%,
05/01/2052
3,988‌
3,784‌
4.00%,
07/01/2052
988‌
930‌
4.00%,
08/01/2052
2,543‌
2,385‌
4.00%,
08/01/2052
5,846‌
5,515‌
4.00%,
09/01/2052
3,208‌
3,012‌
4.00%,
10/01/2052
980‌
925‌
4.00%,
10/01/2052
2,341‌
2,204‌
4.00%,
01/01/2053
4,561‌
4,331‌
4.00%,
07/01/2053
1,145‌
1,076‌
4.00%,
02/01/2054
2,222‌
2,086‌
4.50%,
06/01/2029
3‌
3‌
4.50%,
07/01/2029
1‌
1‌
4.50%,
08/01/2030
2‌
2‌
4.50%,
01/01/2034
10‌
10‌
4.50%,
01/01/2040
606‌
601‌
4.50%,
02/01/2041
1,181‌
1,171‌
4.50%,
08/01/2052
1,979‌
1,909‌
4.50%,
10/01/2052
4,355‌
4,221‌
4.50%,
10/01/2052
3,479‌
3,357‌
4.50%,
05/01/2053
4,331‌
4,191‌
4.50%,
07/01/2053
4,812‌
4,668‌
4.50%,
08/01/2053
2,308‌
2,234‌
4.50%,
04/01/2054
941‌
911‌
4.50%,
11/01/2054
1,065‌
1,023‌
4.50%,
11/01/2054
782‌
754‌
4.50%,
01/01/2056
2,955‌
2,847‌
5.00%,
08/01/2039
489‌
492‌
5.00%,
12/01/2039
373‌
375‌
5.00%,
09/01/2040
1,139‌
1,159‌
5.00%,
11/01/2045
753‌
747‌
5.00%,
04/01/2046
1,495‌
1,498‌
5.00%,
11/01/2052
3,822‌
3,797‌
5.00%,
02/01/2053
4,814‌
4,775‌
5.00%,
04/01/2053
3,989‌
3,946‌
5.00%,
04/01/2053
3,420‌
3,389‌
5.00%,
04/01/2053
1,505‌
1,498‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
40
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Federal
National
Mortgage
Association
(FNMA)/Federal
Home
Loan
Mortgage
Corporation
(FHLMC)
Uniform
Mortgage-Backed
Security
(continued)
5.00%,
05/01/2053
$
4,699‌
$
4,686‌
5.00%,
06/01/2053
2,371‌
2,360‌
5.00%,
06/01/2053
3,585‌
3,549‌
5.00%,
08/01/2053
756‌
749‌
5.00%,
05/01/2054
912‌
905‌
5.00%,
11/01/2054
3,850‌
3,810‌
5.00%,
11/01/2054
4,847‌
4,815‌
5.00%,
12/01/2054
3,163‌
3,134‌
5.00%,
01/01/2056
3,638‌
3,594‌
5.00%,
01/01/2056
1,631‌
1,610‌
5.00%,
02/01/2056
5,181‌
5,115‌
5.50%,
03/01/2038
39‌
40‌
5.50%,
05/01/2038
44‌
45‌
5.50%,
06/01/2038
60‌
62‌
5.50%,
09/01/2038
90‌
93‌
5.50%,
11/01/2038
51‌
53‌
5.50%,
04/01/2039
49‌
50‌
5.50%,
10/01/2039
1,579‌
1,618‌
5.50%,
04/01/2040
30‌
31‌
5.50%,
07/01/2040
1,290‌
1,322‌
5.50%,
03/01/2053
2,837‌
2,889‌
5.50%,
07/01/2053
1,161‌
1,181‌
5.50%,
08/01/2053
1,916‌
1,937‌
5.50%,
08/01/2053
4,988‌
5,068‌
5.50%,
04/01/2054
2,846‌
2,897‌
5.50%,
05/01/2054
2,057‌
2,085‌
5.50%,
06/01/2054
3,778‌
3,836‌
5.50%,
08/01/2054
4,301‌
4,354‌
5.50%,
08/01/2054
1,319‌
1,338‌
5.50%,
10/01/2054
4,140‌
4,213‌
5.50%,
10/01/2054
1,483‌
1,497‌
5.50%,
12/01/2054
3,451‌
3,511‌
5.50%,
02/01/2055
4,075‌
4,132‌
5.50%,
04/01/2055
1,793‌
1,816‌
5.50%,
04/01/2055
889‌
902‌
5.50%,
04/01/2055
1,819‌
1,845‌
5.50%,
06/01/2055
3,283‌
3,334‌
5.50%,
08/01/2055
3,004‌
3,033‌
5.50%,
08/01/2055
3,544‌
3,601‌
5.50%,
10/01/2055
2,384‌
2,416‌
5.50%,
12/01/2055
1,452‌
1,469‌
6.00%,
10/01/2036
35‌
37‌
6.00%,
01/01/2053
1,918‌
1,997‌
6.00%,
10/01/2053
2,051‌
2,108‌
6.00%,
11/01/2053
1,041‌
1,076‌
6.00%,
11/01/2053
2,794‌
2,891‌
6.00%,
03/01/2054
1,666‌
1,719‌
6.00%,
06/01/2054
2,477‌
2,567‌
6.00%,
07/01/2054
2,355‌
2,442‌
6.00%,
07/01/2054
2,319‌
2,408‌
6.00%,
08/01/2054
4,053‌
4,173‌
6.00%,
08/01/2054
2,467‌
2,535‌
6.00%,
09/01/2054
3,223‌
3,347‌
6.00%,
09/01/2054
4,785‌
4,926‌
6.00%,
09/01/2054
2,877‌
2,960‌
6.00%,
11/01/2054
1,878‌
1,947‌
6.00%,
11/01/2054
2,064‌
2,141‌
6.00%,
01/01/2055
1,868‌
1,938‌
6.00%,
04/01/2055
1,012‌
1,049‌
6.00%,
09/01/2055
2,246‌
2,326‌
6.50%,
01/01/2054
3,185‌
3,342‌
6.50%,
02/01/2054
2,037‌
2,149‌
6.50%,
05/01/2054
2,422‌
2,534‌
6.50%,
07/01/2054
1,302‌
1,367‌
6.50%,
04/01/2055
2,543‌
2,686‌
6.50%,
11/01/2055
4,294‌
4,500‌
$
549,638‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Government
National
Mortgage
Association
(GNMA)
-
5
.81
%
2.00%,
02/20/2051
$
6,649‌
$
5,456‌
2.00%,
05/20/2051
5,059‌
4,152‌
2.00%,
07/20/2051
9,443‌
7,749‌
2.00%,
08/20/2051
4,831‌
3,965‌
2.00%,
11/20/2051
2,055‌
1,686‌
2.50%,
06/20/2027
6‌
5‌
2.50%,
12/20/2030
19‌
18‌
2.50%,
03/20/2031
33‌
32‌
2.50%,
07/20/2043
56‌
50‌
2.50%,
12/20/2046
135‌
118‌
2.50%,
01/20/2047
44‌
38‌
2.50%,
06/20/2050
2,084‌
1,784‌
2.50%,
04/20/2051
2,236‌
1,915‌
2.50%,
05/20/2051
6,996‌
5,991‌
2.50%,
07/20/2051
9,804‌
8,392‌
2.50%,
09/20/2051
8,173‌
6,999‌
3.00%,
02/15/2027
2‌
2‌
3.00%,
08/20/2029
10‌
10‌
3.00%,
09/20/2029
13‌
12‌
3.00%,
07/20/2030
12‌
12‌
3.00%,
01/20/2031
16‌
15‌
3.00%,
07/20/2032
20‌
19‌
3.00%,
03/20/2043
38‌
35‌
3.00%,
03/20/2043
182‌
163‌
3.00%,
04/20/2043
240‌
219‌
3.00%,
06/20/2043
214‌
195‌
3.00%,
08/20/2043
231‌
210‌
3.00%,
12/15/2044
22‌
20‌
3.00%,
01/15/2045
24‌
21‌
3.00%,
01/15/2045
20‌
18‌
3.00%,
02/20/2045
20‌
19‌
3.00%,
05/20/2045
132‌
119‌
3.00%,
12/20/2045
94‌
84‌
3.00%,
01/20/2046
41‌
37‌
3.00%,
03/20/2046
164‌
148‌
3.00%,
05/20/2046
269‌
242‌
3.00%,
06/20/2046
259‌
232‌
3.00%,
08/20/2046
247‌
222‌
3.00%,
09/20/2046
184‌
166‌
3.00%,
10/20/2046
141‌
127‌
3.00%,
12/15/2046
51‌
46‌
3.00%,
02/20/2048
1,368‌
1,222‌
3.00%,
07/20/2051
1,514‌
1,347‌
3.00%,
09/20/2051
4,861‌
4,325‌
3.00%,
12/20/2051
10,005‌
8,901‌
3.50%,
05/20/2042
57‌
54‌
3.50%,
06/20/2042
58‌
55‌
3.50%,
07/20/2042
226‌
213‌
3.50%,
09/20/2042
175‌
164‌
3.50%,
10/20/2042
127‌
118‌
3.50%,
11/20/2042
111‌
103‌
3.50%,
12/20/2042
116‌
110‌
3.50%,
01/20/2043
192‌
180‌
3.50%,
02/20/2043
308‌
288‌
3.50%,
03/20/2043
206‌
194‌
3.50%,
04/15/2043
76‌
70‌
3.50%,
04/20/2043
136‌
127‌
3.50%,
05/20/2043
91‌
85‌
3.50%,
07/20/2043
117‌
110‌
3.50%,
08/20/2043
282‌
264‌
3.50%,
09/20/2043
202‌
189‌
3.50%,
10/20/2043
95‌
89‌
3.50%,
09/20/2044
76‌
71‌
3.50%,
10/20/2044
89‌
82‌
3.50%,
11/20/2044
83‌
78‌
3.50%,
12/20/2044
86‌
80‌
3.50%,
01/20/2045
84‌
78‌
3.50%,
03/15/2045
23‌
21‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
41
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Government
National
Mortgage
Association
(GNMA)
(continued)
3.50%,
03/20/2045
$
142‌
$
132‌
3.50%,
04/15/2045
8‌
8‌
3.50%,
04/20/2045
85‌
78‌
3.50%,
04/20/2045
136‌
123‌
3.50%,
05/20/2045
139‌
129‌
3.50%,
06/20/2045
22‌
20‌
3.50%,
07/20/2045
119‌
110‌
3.50%,
08/20/2045
131‌
121‌
3.50%,
09/20/2045
124‌
115‌
3.50%,
10/20/2045
112‌
104‌
3.50%,
11/20/2045
200‌
184‌
3.50%,
12/20/2045
146‌
135‌
3.50%,
02/20/2046
118‌
110‌
3.50%,
08/15/2046
26‌
23‌
3.50%,
09/15/2046
58‌
53‌
3.50%,
01/15/2048
34‌
30‌
3.50%,
02/20/2048
3,589‌
3,307‌
3.50%,
08/20/2048
1,223‌
1,124‌
3.50%,
09/15/2048
75‌
69‌
3.50%,
04/20/2052
3,978‌
3,612‌
3.50%,
08/20/2052
2,950‌
2,681‌
4.00%,
02/20/2044
65‌
63‌
4.00%,
05/15/2044
62‌
59‌
4.00%,
05/20/2044
37‌
36‌
4.00%,
07/20/2044
11‌
11‌
4.00%,
08/20/2044
83‌
80‌
4.00%,
09/20/2044
74‌
71‌
4.00%,
10/20/2044
270‌
260‌
4.00%,
11/15/2044
39‌
37‌
4.00%,
11/20/2044
53‌
51‌
4.00%,
12/20/2044
100‌
96‌
4.00%,
01/20/2045
43‌
41‌
4.00%,
03/20/2045
66‌
64‌
4.00%,
08/20/2045
73‌
70‌
4.00%,
09/15/2045
9‌
9‌
4.00%,
09/20/2045
85‌
82‌
4.00%,
12/15/2045
26‌
24‌
4.00%,
02/20/2046
28‌
27‌
4.00%,
04/20/2046
104‌
100‌
4.00%,
10/20/2046
30‌
28‌
4.00%,
01/20/2047
8‌
7‌
4.00%,
03/20/2047
84‌
80‌
4.00%,
05/20/2047
28‌
27‌
4.00%,
11/20/2047
183‌
173‌
4.00%,
03/20/2049
464‌
439‌
4.00%,
05/20/2049
590‌
558‌
4.00%,
04/20/2052
6,873‌
6,457‌
4.00%,
10/20/2052
2,964‌
2,788‌
4.50%,
03/15/2039
60‌
60‌
4.50%,
03/15/2040
64‌
64‌
4.50%,
07/15/2040
78‌
77‌
4.50%,
02/20/2041
13‌
13‌
4.50%,
03/20/2041
10‌
10‌
4.50%,
05/15/2045
7‌
7‌
4.50%,
12/20/2046
99‌
97‌
4.50%,
10/15/2047
53‌
52‌
4.50%,
02/20/2049
2,266‌
2,218‌
4.50%,
05/20/2052
882‌
857‌
4.50%,
08/20/2052
2,170‌
2,105‌
4.50%,
09/20/2052
5,530‌
5,362‌
4.50%,
11/20/2054
5,855‌
5,638‌
5.00%,
07/20/2038
46‌
47‌
5.00%,
04/20/2039
33‌
33‌
5.00%,
01/20/2045
51‌
52‌
5.00%,
02/20/2046
19‌
19‌
5.00%,
12/20/2046
40‌
41‌
5.00%,
08/20/2048
13‌
13‌
5.00%,
10/20/2048
46‌
47‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Government
National
Mortgage
Association
(GNMA)
(continued)
5.00%,
12/20/2052
$
787‌
$
782‌
5.00%,
01/20/2053
5,077‌
5,043‌
5.00%,
02/20/2053
1,171‌
1,163‌
5.00%,
04/20/2053
2,395‌
2,378‌
5.00%,
09/20/2053
1,601‌
1,588‌
5.00%,
10/20/2053
5,117‌
5,074‌
5.00%,
04/20/2054
1,799‌
1,782‌
5.00%,
12/20/2054
3,263‌
3,227‌
5.00%,
06/20/2056
(k)
6,735‌
6,650‌
5.50%,
03/15/2038
43‌
44‌
5.50%,
02/15/2039
38‌
39‌
5.50%,
06/15/2040
64‌
66‌
5.50%,
07/20/2044
36‌
37‌
5.50%,
09/20/2044
48‌
49‌
5.50%,
12/20/2048
7‌
7‌
5.50%,
03/20/2053
4,172‌
4,230‌
5.50%,
06/20/2053
4,548‌
4,611‌
5.50%,
08/20/2053
2,656‌
2,690‌
5.50%,
10/20/2053
2,265‌
2,301‌
5.50%,
12/20/2053
3,623‌
3,670‌
5.50%,
04/20/2054
4,119‌
4,164‌
5.50%,
07/20/2054
2,159‌
2,181‌
6.00%,
07/20/2053
3,027‌
3,109‌
6.00%,
10/20/2053
2,819‌
2,892‌
6.00%,
03/20/2054
2,598‌
2,659‌
6.00%,
04/20/2054
1,430‌
1,472‌
$
172,087‌
U.S.
Treasury
-
46
.16
%
0.38%,
07/31/2027
6,345‌
6,090‌
0.38%,
09/30/2027
5,215‌
4,976‌
0.50%,
06/30/2027
3,790‌
3,654‌
0.50%,
08/31/2027
7,780‌
7,456‌
0.50%,
10/31/2027
5,120‌
4,878‌
0.63%,
11/30/2027
7,625‌
7,256‌
0.63%,
12/31/2027
6,650‌
6,310‌
0.63%,
05/15/2030
29,725‌
25,982‌
0.63%,
08/15/2030
15,065‌
13,050‌
0.75%,
01/31/2028
10,210‌
9,680‌
0.88%,
11/15/2030
13,310‌
11,564‌
1.00%,
07/31/2028
8,595‌
8,062‌
1.13%,
02/29/2028
11,740‌
11,175‌
1.13%,
08/31/2028
7,015‌
6,581‌
1.13%,
02/15/2031
12,680‌
11,068‌
1.13%,
05/15/2040
5,180‌
3,253‌
1.13%,
08/15/2040
3,885‌
2,415‌
1.25%,
03/31/2028
6,615‌
6,296‌
1.25%,
04/30/2028
10,140‌
9,629‌
1.25%,
05/31/2028
8,310‌
7,873‌
1.25%,
06/30/2028
33,045‌
31,238‌
1.25%,
09/30/2028
5,880‌
5,519‌
1.25%,
08/15/2031
10,605‌
9,168‌
1.25%,
05/15/2050
6,195‌
2,915‌
1.38%,
10/31/2028
8,830‌
8,293‌
1.38%,
12/31/2028
7,435‌
6,953‌
1.38%,
11/15/2031
19,860‌
17,155‌
1.38%,
11/15/2040
4,490‌
2,884‌
1.38%,
08/15/2050
7,830‌
3,797‌
1.50%,
11/30/2028
6,840‌
6,431‌
1.50%,
02/15/2030
12,175‌
11,101‌
1.63%,
08/15/2029
3,940‌
3,655‌
1.63%,
05/15/2031
11,030‌
9,793‌
1.63%,
11/15/2050
7,265‌
3,758‌
1.75%,
01/31/2029
8,580‌
8,085‌
1.75%,
11/15/2029
3,980‌
3,685‌
1.75%,
08/15/2041
6,540‌
4,357‌
1.88%,
02/28/2029
5,360‌
5,060‌
1.88%,
02/15/2032
13,820‌
12,195‌
1.88%,
02/15/2041
5,820‌
4,014‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
42
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
U.S.
Treasury
(continued)
1.88%,
02/15/2051
$
6,040‌
$
3,322‌
1.88%,
11/15/2051
6,400‌
3,481‌
2.00%,
11/15/2041
5,285‌
3,639‌
2.00%,
02/15/2050
3,950‌
2,280‌
2.00%,
08/15/2051
5,755‌
3,244‌
2.25%,
08/15/2027
4,875‌
4,779‌
2.25%,
11/15/2027
6,555‌
6,396‌
2.25%,
05/15/2041
4,570‌
3,314‌
2.25%,
08/15/2046
4,160‌
2,693‌
2.25%,
08/15/2049
6,140‌
3,786‌
2.25%,
02/15/2052
6,160‌
3,673‌
2.38%,
03/31/2029
6,075‌
5,805‌
2.38%,
05/15/2029
6,050‌
5,770‌
2.38%,
02/15/2042
6,020‌
4,367‌
2.38%,
11/15/2049
3,305‌
2,087‌
2.38%,
05/15/2051
6,765‌
4,191‌
2.50%,
02/15/2045
3,795‌
2,641‌
2.50%,
02/15/2046
4,005‌
2,742‌
2.50%,
05/15/2046
2,720‌
1,855‌
2.63%,
02/15/2029
7,695‌
7,415‌
2.63%,
07/31/2029
2,600‌
2,490‌
2.75%,
07/31/2027
13,665‌
13,482‌
2.75%,
02/15/2028
8,515‌
8,340‌
2.75%,
05/31/2029
3,655‌
3,522‌
2.75%,
08/15/2032
7,965‌
7,321‌
2.75%,
08/15/2042
739‌
561‌
2.75%,
11/15/2042
1,090‌
824‌
2.75%,
08/15/2047
3,520‌
2,471‌
2.75%,
11/15/2047
3,970‌
2,779‌
2.88%,
05/15/2028
5,645‌
5,525‌
2.88%,
08/15/2028
13,970‌
13,634‌
2.88%,
04/30/2029
4,605‌
4,457‌
2.88%,
05/15/2032
10,200‌
9,482‌
2.88%,
05/15/2043
2,880‌
2,198‌
2.88%,
08/15/2045
2,575‌
1,897‌
2.88%,
11/15/2046
1,645‌
1,193‌
2.88%,
05/15/2049
4,490‌
3,164‌
2.88%,
05/15/2052
6,300‌
4,320‌
3.00%,
05/15/2042
1,705‌
1,350‌
3.00%,
11/15/2044
4,710‌
3,580‌
3.00%,
05/15/2045
2,280‌
1,721‌
3.00%,
11/15/2045
1,950‌
1,463‌
3.00%,
02/15/2047
3,175‌
2,348‌
3.00%,
05/15/2047
4,205‌
3,101‌
3.00%,
02/15/2048
3,415‌
2,497‌
3.00%,
08/15/2048
5,045‌
3,669‌
3.00%,
02/15/2049
3,190‌
2,309‌
3.00%,
08/15/2052
4,610‌
3,240‌
3.13%,
08/31/2027
1,290‌
1,277‌
3.13%,
11/15/2028
11,250‌
11,012‌
3.13%,
08/31/2029
3,010‌
2,924‌
3.13%,
11/15/2041
455‌
370‌
3.13%,
02/15/2042
1,140‌
922‌
3.13%,
02/15/2043
815‌
648‌
3.13%,
08/15/2044
2,590‌
2,015‌
3.13%,
05/15/2048
4,215‌
3,144‌
3.25%,
06/30/2027
5,950‌
5,909‌
3.25%,
06/30/2029
4,380‌
4,278‌
3.25%,
05/15/2042
5,235‌
4,291‌
3.38%,
09/15/2027
5,595‌
5,555‌
3.38%,
09/15/2028
5,330‌
5,254‌
3.38%,
05/15/2033
9,345‌
8,835‌
3.38%,
08/15/2042
3,025‌
2,513‌
3.38%,
11/15/2048
3,175‌
2,467‌
3.50%,
09/30/2027
3,860‌
3,838‌
3.50%,
01/31/2028
3,970‌
3,938‌
3.50%,
04/30/2028
3,820‌
3,784‌
3.50%,
10/15/2028
5,440‌
5,374‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
U.S.
Treasury
(continued)
3.50%,
11/15/2028
$
6,215‌
$
6,137‌
3.50%,
12/15/2028
5,205‌
5,138‌
3.50%,
01/15/2029
1,975‌
1,948‌
3.50%,
02/15/2029
5,290‌
5,216‌
3.50%,
03/15/2029
6,165‌
6,077‌
3.50%,
09/30/2029
9,035‌
8,873‌
3.50%,
01/31/2030
7,810‌
7,652‌
3.50%,
04/30/2030
3,395‌
3,321‌
3.50%,
02/15/2033
8,890‌
8,492‌
3.50%,
02/15/2039
1,130‌
1,012‌
3.63%,
03/31/2028
3,180‌
3,159‌
3.63%,
08/15/2028
605‌
600‌
3.63%,
08/31/2029
4,665‌
4,601‌
3.63%,
03/31/2030
6,730‌
6,617‌
3.63%,
08/31/2030
880‌
863‌
3.63%,
09/30/2030
2,595‌
2,544‌
3.63%,
09/30/2031
1,915‌
1,865‌
3.63%,
08/15/2043
2,410‌
2,043‌
3.63%,
02/15/2044
1,245‌
1,050‌
3.63%,
02/15/2053
3,965‌
3,145‌
3.63%,
05/15/2053
7,665‌
6,073‌
3.75%,
06/30/2027
7,720‌
7,707‌
3.75%,
08/15/2027
5,155‌
5,143‌
3.75%,
04/15/2028
2,735‌
2,722‌
3.75%,
05/15/2028
5,400‌
5,374‌
3.75%,
12/31/2028
6,315‌
6,270‌
3.75%,
05/31/2030
2,265‌
2,235‌
3.75%,
06/30/2030
5,090‌
5,021‌
3.75%,
12/31/2030
2,545‌
2,504‌
3.75%,
08/31/2031
9,060‌
8,882‌
3.75%,
10/31/2032
4,840‌
4,704‌
3.75%,
11/30/2032
6,810‌
6,616‌
3.75%,
02/28/2033
5,610‌
5,440‌
3.75%,
08/15/2041
2,175‌
1,925‌
3.75%,
11/15/2043
1,250‌
1,075‌
3.88%,
07/31/2027
4,470‌
4,467‌
3.88%,
10/15/2027
4,790‌
4,785‌
3.88%,
11/30/2027
4,725‌
4,717‌
3.88%,
12/31/2027
5,365‌
5,355‌
3.88%,
03/15/2028
5,120‌
5,109‌
3.88%,
03/31/2028
17,395‌
17,356‌
3.88%,
07/15/2028
2,255‌
2,248‌
3.88%,
04/15/2029
3,845‌
3,827‌
3.88%,
09/30/2029
6,260‌
6,221‌
3.88%,
11/30/2029
2,300‌
2,284‌
3.88%,
04/30/2030
4,425‌
4,389‌
3.88%,
06/30/2030
4,235‌
4,197‌
3.88%,
07/31/2030
5,470‌
5,420‌
3.88%,
03/31/2031
3,015‌
2,980‌
3.88%,
08/31/2032
3,415‌
3,347‌
3.88%,
09/30/2032
2,610‌
2,557‌
3.88%,
12/31/2032
3,960‌
3,873‌
3.88%,
08/15/2033
10,170‌
9,904‌
3.88%,
08/15/2034
11,485‌
11,105‌
3.88%,
08/15/2040
1,350‌
1,226‌
3.88%,
02/15/2043
2,125‌
1,875‌
3.88%,
05/15/2043
1,060‌
933‌
4.00%,
12/15/2027
2,660‌
2,661‌
4.00%,
02/29/2028
3,380‌
3,380‌
4.00%,
06/30/2028
2,640‌
2,639‌
4.00%,
01/31/2029
5,730‌
5,722‌
4.00%,
07/31/2029
5,130‌
5,120‌
4.00%,
02/28/2030
12,340‌
12,299‌
4.00%,
03/31/2030
6,550‌
6,527‌
4.00%,
05/31/2030
9,220‌
9,184‌
4.00%,
07/31/2030
5,145‌
5,122‌
4.00%,
01/31/2031
7,695‌
7,650‌
4.00%,
04/30/2032
3,255‌
3,219‌
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
43
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
U.S.
Treasury
(continued)
4.00%,
06/30/2032
$
4,340‌
$
4,288‌
4.00%,
07/31/2032
5,930‌
5,855‌
4.00%,
02/15/2034
10,630‌
10,401‌
4.00%,
11/15/2035
7,160‌
6,925‌
4.00%,
11/15/2042
5,590‌
5,026‌
4.00%,
11/15/2052
8,095‌
6,873‌
4.13%,
09/30/2027
6,975‌
6,991‌
4.13%,
10/31/2027
4,750‌
4,760‌
4.13%,
11/15/2027
2,150‌
2,154‌
4.13%,
07/31/2028
8,455‌
8,473‌
4.13%,
03/31/2029
5,800‌
5,811‌
4.13%,
10/31/2029
1,000‌
1,001‌
4.13%,
11/30/2029
10,715‌
10,728‌
4.13%,
08/31/2030
1,075‌
1,075‌
4.13%,
07/31/2031
9,165‌
9,151‌
4.13%,
10/31/2031
4,015‌
4,004‌
4.13%,
11/30/2031
6,155‌
6,138‌
4.13%,
02/29/2032
5,270‌
5,249‌
4.13%,
03/31/2032
2,905‌
2,893‌
4.13%,
05/31/2032
3,575‌
3,557‌
4.13%,
11/15/2032
13,700‌
13,603‌
4.13%,
02/15/2036
11,180‌
10,906‌
4.13%,
08/15/2044
3,585‌
3,226‌
4.13%,
08/15/2053
3,930‌
3,408‌
4.25%,
02/28/2029
6,355‌
6,388‌
4.25%,
06/30/2029
5,900‌
5,931‌
4.25%,
02/28/2031
2,640‌
2,652‌
4.25%,
06/30/2031
4,620‌
4,640‌
4.25%,
03/31/2033
7,410‌
7,398‌
4.25%,
11/15/2034
10,515‌
10,423‌
4.25%,
05/15/2035
12,755‌
12,612‌
4.25%,
08/15/2035
8,990‌
8,879‌
4.25%,
05/15/2039
3,400‌
3,271‌
4.25%,
11/15/2040
1,088‌
1,028‌
4.25%,
02/15/2054
7,180‌
6,358‌
4.25%,
08/15/2054
6,660‌
5,899‌
4.38%,
07/15/2027
5,770‌
5,798‌
4.38%,
08/31/2028
3,915‌
3,944‌
4.38%,
01/31/2032
6,205‌
6,260‌
4.38%,
05/15/2034
10,690‌
10,714‌
4.38%,
02/15/2038
495‌
490‌
4.38%,
11/15/2039
1,700‌
1,645‌
4.38%,
05/15/2040
1,545‌
1,488‌
4.38%,
05/15/2041
2,990‌
2,855‌
4.38%,
08/15/2043
1,645‌
1,540‌
4.50%,
05/31/2029
7,100‌
7,187‌
4.50%,
12/31/2031
8,910‌
9,046‌
4.50%,
11/15/2033
11,250‌
11,383‌
4.50%,
02/15/2036
1,630‌
1,648‌
4.50%,
05/15/2038
1,200‌
1,198‌
4.50%,
08/15/2039
730‌
717‌
4.50%,
02/15/2044
3,835‌
3,636‌
4.50%,
11/15/2054
6,850‌
6,327‌
4.63%,
06/15/2027
16,890‌
17,013‌
4.63%,
09/30/2028
6,215‌
6,297‌
4.63%,
04/30/2029
6,920‌
7,026‌
4.63%,
09/30/2030
1,460‌
1,489‌
4.63%,
04/30/2031
4,260‌
4,349‌
4.63%,
05/31/2031
12,215‌
12,471‌
4.63%,
02/15/2035
11,305‌
11,499‌
4.63%,
02/15/2040
4,870‌
4,826‌
4.63%,
05/15/2044
4,030‌
3,875‌
4.63%,
11/15/2044
6,255‌
5,999‌
4.63%,
11/15/2045
805‌
769‌
4.63%,
02/15/2046
1,005‌
960‌
4.63%,
05/15/2054
6,335‌
5,973‌
4.63%,
02/15/2055
6,445‌
6,077‌
4.63%,
11/15/2055
7,000‌
6,608‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
U.S.
Treasury
(continued)
4.75%,
02/15/2037
$
1,250‌
$
1,283‌
4.75%,
02/15/2041
3,994‌
3,981‌
4.75%,
11/15/2043
2,400‌
2,350‌
4.75%,
02/15/2045
3,865‌
3,763‌
4.75%,
11/15/2053
4,820‌
4,632‌
4.75%,
05/15/2055
6,740‌
6,487‌
4.75%,
08/15/2055
6,020‌
5,796‌
4.75%,
02/15/2056
6,925‌
6,674‌
4.88%,
08/15/2045
2,760‌
2,725‌
5.00%,
05/15/2037
885‌
928‌
5.00%,
05/15/2045
3,925‌
3,941‌
5.00%,
05/15/2046
(g)
9,555‌
9,582‌
5.25%,
11/15/2028
409‌
420‌
5.25%,
02/15/2029
795‌
822‌
5.38%,
02/15/2031
1,100‌
1,159‌
5.50%,
08/15/2028
1,115‌
1,150‌
6.13%,
11/15/2027
700‌
721‌
6.25%,
05/15/2030
1,050‌
1,132‌
6.38%,
08/15/2027
1,540‌
1,584‌
$
1,368,024‌
TOTAL
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
$
2,095,127‌
Total
Investments
$
2,988,926‌
Other
Assets
and
Liabilities
-  (0.85)%
(
25,230‌
)
TOTAL
NET
ASSETS
-
100.00%
$
2,963,696‌
(a)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$26,057
or
0.88%
of
net
assets.
(b)
1-day
yield
shown
is
as
of
period
end.
(c)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$26,697
or
0.90%
of
net
assets.
(d)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(e)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$4,215
or
0.14%
of
net
assets.
(f)
Rate
shown
is
as
of
period
end.
The
rate
may
be
a
variable
or
floating
rate
or
a
fixed
rate
which
may
convert
to
a
variable
or
floating
rate
in
the
future.
(g)
Security
purchased
on
a
when-issued
basis.
(h)
Non-income
producing
security
(i)
Certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
are
based
on
current
market
conditions.  These
securities
do
not
indicate
a
reference
rate
and
spread
in
their
description.
Rate
shown
is
the
rate
in
effect
as
of
period
end.
(j)
Credit
support
indicates
investments
that
benefit
from
credit
enhancement
or
liquidity
support
provided
by
a
third
party
bank,
institution,
or
government
agency.
(k)
Security
was
purchased
in
a
"to-be-announced"
("TBA")
transaction.
Schedule
of
Investments
Bond
Market
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
44
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
58,724‌
$
801,319‌
$
789,078‌
$
70,965‌
$
58,724‌
$
801,319‌
$
789,078‌
$
70,965‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
825‌
$
—‌
$
—‌
$
—‌
$
825‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Schedule
of
Investments
Capital
Securities
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
45
INVESTMENT
COMPANIES
-
4
.46
%
Shares
Held
Value
(000's)
Exchange-Traded
Funds
-
0
.15
%
Invesco
Preferred
ETF
123,647‌
$
1,361‌
Money
Market
Funds
-
4
.31
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
2,825,196‌
2,826‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(b),(c)
35,318,430‌
35,318‌
$
38,144‌
TOTAL
INVESTMENT
COMPANIES
$
39,505‌
PREFERRED
STOCKS
-
1
.40
%
Shares
Held
Value
(000's)
Banks
-
0
.73
%
Cullen/Frost
Bankers
Inc
4.45%,
09/15/2026
(d)
57,739‌
$
964‌
Regions
Financial
Corp
6.95%,
09/15/2029
(d)
107,520‌
2,755‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%
US
Bancorp
4.53%,
07/02/2026
(d)
11,995‌
228‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
0.86%
Wintrust
Financial
Corp
7.88%,
07/15/2030
(d)
95,600‌
2,506‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.88%
$
6,453‌
Diversified
Financial
Services
-
0
.02
%
Affiliated
Managers
Group
Inc
4.20%,
09/30/2061
9,119‌
138‌
Affiliated
Managers
Group
Inc
5.88%,
03/30/2059
1,353‌
27‌
$
165‌
Insurance
-
0
.35
%
Assurant
Inc
5.25%,
01/15/2061
30,926‌
600‌
Corebridge
Financial
Inc
6.38%,
12/15/2064
109,872‌
2,524‌
$
3,124‌
REITs
-
0
.30
%
Public
Storage
4.10%,
01/13/2027
(d)
7,800‌
124‌
Public
Storage
4.13%,
07/01/2026
(d)
42,718‌
680‌
Public
Storage
5.60%,
07/01/2026
(d)
13,525‌
298‌
Rexford
Industrial
Realty
Inc
5.63%,
06/21/2026
(d)
70,960‌
1,518‌
$
2,620‌
TOTAL
PREFERRED
STOCKS
$
12,362‌
BONDS
-
96
.79
%
Principal
Amount
(000's)
Value
(000's)
Banks
-
65
.64
%
Banco
Bilbao
Vizcaya
Argentaria
SA
7.75%,
01/14/2032
(d),(e),(f)
$
9,700‌
$
10,172‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.25%
9.38%,
03/19/2029
(d),(e),(f)
8,500‌
9,291‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.10%
Banco
Santander
SA
7.25%,
12/03/2035
(d),(e),(f),(g)
2,200‌
2,215‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.84%
8.00%,
02/01/2034
(d),(e),(f)
1,000‌
1,073‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.91%
9.63%,
11/21/2028
(d),(e),(f)
3,500‌
3,816‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.31%
9.63%,
05/21/2033
(d),(e),(f)
5,000‌
5,878‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.30%
Bank
of
America
Corp
6.13%,
04/27/2027
(d),(e)
10,304‌
10,412‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.23%
6.63%,
05/01/2030
(d),(e)
14,500‌
14,986‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Bank
of
Montreal
6.88%,
11/26/2085
(e)
$
4,800‌
$
4,883‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.98%
7.30%,
11/26/2084
(e)
2,500‌
2,623‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.01%
7.70%,
05/26/2084
(e)
7,834‌
8,198‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.45%
Bank
of
New
York
Mellon
Corp/The
3.75%,
12/20/2026
(d),(e)
3,800‌
3,764‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.63%
5.63%,
03/20/2031
(d),(e),(h)
3,600‌
3,582‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.03%
Bank
of
Nova
Scotia/The
3.63%,
10/27/2081
(e),(h)
760‌
750‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.61%
6.88%,
10/27/2085
(e)
23,600‌
23,834‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.73%
7.35%,
04/27/2085
(e)
3,675‌
3,794‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.90%
8.00%,
01/27/2084
(e)
6,325‌
6,689‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.02%
Barclays
PLC
7.63%,
03/15/2035
(d),(e),(f)
12,900‌
13,587‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.69%
8.00%,
03/15/2029
(d),(e),(f)
1,200‌
1,259‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.43%
9.63%,
12/15/2029
(d),(e),(f)
1,800‌
1,993‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
5.78%
BNP
Paribas
SA
4.50%,
02/25/2030
(d),(e),(f),(i)
3,500‌
3,257‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.94%
4.63%,
02/25/2031
(d),(e),(f),(i)
7,000‌
6,438‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.34%
7.20%,
04/17/2036
(d),(e),(f),(i)
1,500‌
1,502‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.94%
7.45%,
06/27/2035
(d),(e),(f),(i)
2,600‌
2,683‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.13%
7.45%,
06/27/2035
(d),(e),(f)
2,000‌
2,064‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.13%
9.25%,
11/17/2027
(d),(e),(f),(i)
5,000‌
5,248‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.97%
9.25%,
11/17/2027
(d),(e),(f)
1,400‌
1,469‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.97%
Schedule
of
Investments
Capital
Securities
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
46
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Canadian
Imperial
Bank
of
Commerce
6.95%,
01/28/2085
(e),(h)
$
5,500‌
$
5,592‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.83%
7.00%,
10/28/2085
(e)
8,800‌
9,059‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%
Citigroup
Inc
6.63%,
02/15/2031
(d),(e)
2,000‌
2,030‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%
6.88%,
08/15/2030
(d),(e)
11,000‌
11,220‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.89%
6.95%,
02/15/2030
(d),(e)
5,000‌
5,089‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.73%
7.00%,
08/15/2034
(d),(e)
11,767‌
12,198‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
2.76%
7.13%,
08/15/2029
(d),(e)
1,500‌
1,532‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.69%
7.38%,
05/15/2028
(d),(e)
3,600‌
3,710‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.21%
Citizens
Financial
Group
Inc
4.00%,
10/06/2026
(d),(e)
2,500‌
2,481‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.22%
7.10%,
07/06/2026
(d),(h)
1,462‌
1,457‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.42%
Credit
Agricole
SA
7.13%,
09/23/2035
(d),(e),(f),(i)
4,300‌
4,435‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.58%
Deutsche
Bank
AG
8.13%,
04/30/2030
(d),(e),(f),(h)
7,000‌
7,428‌
USD
Secured
Overnight
Financing
Rate
Spread-Adj.
ICE
Swap
Rate
5
Year
+
4.36%
Goldman
Sachs
Group
Inc/The
6.85%,
02/10/2030
(d),(e)
1,444‌
1,481‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.46%
7.50%,
05/10/2029
(d),(e)
21,500‌
22,550‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.81%
7.50%,
02/10/2029
(d),(e)
1,000‌
1,052‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.16%
HSBC
Holdings
PLC
6.00%,
05/22/2027
(d),(e),(f)
3,000‌
3,013‌
USD
Swap
Rate
NY
5
Year
+
3.75%
6.50%,
03/23/2028
(d),(e),(f)
500‌
505‌
USD
Swap
Rate
NY
5
Year
+
3.61%
7.00%,
09/24/2035
(d),(e),(f)
2,400‌
2,449‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.80%
7.05%,
06/05/2030
(d),(e),(f)
1,000‌
1,024‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.99%
8.00%,
03/07/2028
(d),(e),(f)
5,000‌
5,185‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.86%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Huntington
Bancshares
Inc/OH
4.45%,
10/15/2027
(d),(e)
$
14,810‌
$
14,624‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
7
Year
+
4.05%
5.63%,
07/15/2030
(d),(e)
7,010‌
7,122‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
4.95%
6.25%,
10/15/2030
(d),(e)
6,160‌
6,161‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
Huntington
Capital
II
4.56%,
06/15/2028
2,400‌
2,295‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
0.89%
ING
Groep
NV
7.00%,
11/16/2032
(d),(e),(f)
4,000‌
4,115‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.59%
7.25%,
11/16/2034
(d),(e),(f)
5,000‌
5,231‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
4.08%
JPMorgan
Chase
&
Co
6.10%,
07/01/2031
(d),(e)
4,800‌
4,838‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.08%
6.50%,
04/01/2030
(d),(e)
10,500‌
10,761‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.15%
6.88%,
06/01/2029
(d),(e)
10,100‌
10,543‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.74%
KeyCorp
Capital
I
4.69%,
07/01/2028
1,500‌
1,477‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.00%
KeyCorp
Capital
III
7.75%,
07/15/2029
2,700‌
2,832‌
Lloyds
Banking
Group
PLC
6.63%,
09/27/2035
(d),(e),(f),(h)
2,500‌
2,456‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
6.75%,
09/27/2031
(d),(e),(f)
900‌
921‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.15%
8.00%,
09/27/2029
(d),(e),(f)
2,000‌
2,129‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.91%
M&T
Bank
Corp
3.50%,
09/01/2026
(d),(e)
2,900‌
2,877‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
NatWest
Group
PLC
4.60%,
06/28/2031
(d),(e),(f),(h)
18,000‌
16,495‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.10%
Nordea
Bank
Abp
6.75%,
11/10/2033
(d),(e),(f),(i)
4,000‌
4,043‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.72%
PNC
Capital
Trust
C
4.50%,
06/01/2028
3,000‌
2,963‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
0.83%
Schedule
of
Investments
Capital
Securities
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
47
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
PNC
Financial
Services
Group
Inc/The
6.00%,
05/15/2027
(d),(e)
$
5,600‌
$
5,603‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%
6.20%,
09/15/2027
(d),(e)
2,000‌
2,026‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.24%
6.25%,
03/15/2030
(d),(e)
13,500‌
13,787‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
7
Year
+
2.81%
Royal
Bank
of
Canada
6.35%,
11/24/2084
(e)
7,000‌
6,758‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.26%
6.50%,
11/24/2085
(e)
4,800‌
4,712‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.46%
6.50%,
05/24/2086
(e)
1,550‌
1,532‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.45%
7.50%,
05/02/2084
(e),(h)
21,094‌
21,887‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.89%
Societe
Generale
SA
8.50%,
03/25/2034
(d),(e),(f),(i)
3,600‌
3,937‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.15%
10.00%,
11/14/2028
(d),(e),(f),(i)
7,000‌
7,663‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.45%
10.00%,
11/14/2028
(d),(e),(f)
600‌
657‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.45%
Standard
Chartered
PLC
4.75%,
01/14/2031
(d),(e),(f),(h)
12,500‌
11,760‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.81%
7.01%,
07/30/2037
(d),(e),(i)
7,100‌
7,224‌
3
Month
USD
LIBOR
+
1.46%
7.01%,
07/30/2037
(d),(e)
2,000‌
2,035‌
3
Month
USD
LIBOR
+
1.46%
7.63%,
01/16/2032
(d),(e),(f),(h),(i)
2,100‌
2,211‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.02%
7.88%,
03/08/2030
(d),(e),(f),(i)
1,000‌
1,054‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.57%
State
Street
Corp
6.45%,
09/15/2030
(d),(e),(h)
3,800‌
3,920‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.14%
6.70%,
09/15/2029
(d),(e)
10,800‌
11,134‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.63%
6.70%,
03/15/2029
(d),(e)
6,900‌
7,094‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.61%
Swedbank
AB
7.75%,
03/17/2030
(d),(e),(f)
3,000‌
3,179‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.66%
Toronto-Dominion
Bank/The
7.25%,
07/31/2084
(e)
1,000‌
1,038‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.98%
8.13%,
10/31/2082
(e)
14,201‌
14,741‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.08%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Truist
Financial
Corp
4.58%,
05/15/2027
$
4,000‌
$
3,982‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
0.93%
5.10%,
03/01/2030
(d),(e)
2,000‌
1,993‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
4.35%
UBS
Group
AG
4.38%,
02/10/2031
(d),(e),(f)
2,500‌
2,283‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.31%
4.88%,
02/12/2027
(d),(e),(f),(i)
9,000‌
8,965‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.40%
6.60%,
08/05/2030
(d),(e),(f),(h),(i)
3,900‌
3,930‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.12%
7.00%,
02/10/2030
(d),(e),(f),(i)
2,000‌
2,035‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.08%
7.00%,
02/05/2035
(d),(e),(f)
6,000‌
6,063‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.30%
9.25%,
11/13/2033
(d),(e),(f),(i)
12,000‌
13,855‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.76%
US
Bancorp
3.70%,
01/15/2027
(d),(e)
19,000‌
18,777‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.54%
Wells
Fargo
&
Co
6.13%,
06/15/2031
(d),(e)
3,100‌
3,125‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.34%
6.85%,
09/15/2029
(d),(e),(h)
9,705‌
10,058‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%
7.63%,
09/15/2028
(d),(e)
10,696‌
11,256‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.61%
$
581,107‌
Diversified
Financial
Services
-
2
.24
%
Charles
Schwab
Corp/The
6.10%,
06/01/2031
(d),(e)
7,200‌
7,208‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.25%
Nomura
Holdings
Inc
7.00%,
07/15/2030
(d),(e),(f)
600‌
619‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.08%
Voya
Financial
Inc
4.70%,
01/23/2048
(e)
10,800‌
10,524‌
3
Month
USD
LIBOR
+
2.08%
7.76%,
09/15/2028
(d),(e)
1,400‌
1,451‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.36%
$
19,802‌
Electric
-
5
.68
%
Algonquin
Power
&
Utilities
Corp
4.75%,
01/18/2082
(e)
5,000‌
4,954‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.25%
Alliant
Energy
Corp
5.75%,
04/01/2056
(e)
500‌
494‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.08%
Schedule
of
Investments
Capital
Securities
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
48
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
American
Electric
Power
Co
Inc
5.80%,
03/15/2056
(e)
$
2,700‌
$
2,692‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.13%
6.05%,
03/15/2056
(e)
5,900‌
5,851‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.94%
6.95%,
12/15/2054
(e)
2,000‌
2,138‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
7.05%,
12/15/2054
(e)
2,600‌
2,700‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.75%
Dominion
Energy
Inc
6.20%,
02/15/2056
(e)
2,500‌
2,515‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.01%
6.63%,
05/15/2055
(e)
4,500‌
4,609‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.21%
Electricite
de
France
SA
9.13%,
03/15/2033
(d),(e)
6,800‌
7,876‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.41%
9.13%,
03/15/2033
(d),(e),(i)
2,000‌
2,316‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.41%
Emera
US
Finance
LLC
6.85%,
10/01/2056
(e)
1,100‌
1,115‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
Entergy
Corp
6.10%,
06/15/2056
(e)
400‌
399‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.01%
EUSHI
Finance
Inc
6.25%,
04/01/2056
(e)
1,100‌
1,092‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.51%
7.63%,
12/15/2054
(e)
500‌
521‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.14%
Evergy
Inc
6.65%,
06/01/2055
(e)
1,000‌
1,021‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.56%
NextEra
Energy
Capital
Holdings
Inc
6.70%,
09/01/2054
(e)
2,700‌
2,781‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.36%
Sempra
6.55%,
04/01/2055
(e)
3,580‌
3,614‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.14%
6.63%,
04/01/2055
(e)
1,500‌
1,516‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.35%
Southern
Co/The
6.38%,
03/15/2055
(e)
2,000‌
2,047‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.07%
$
50,251‌
Food
-
0
.79
%
Dairy
Farmers
of
America
Inc
7.13%,
12/01/2026
(d),(i)
7,000‌
6,993‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Gas
-
0
.88
%
AltaGas
Ltd
7.20%,
10/15/2054
(e),(i)
$
1,500‌
$
1,563‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.57%
NiSource
Inc
6.95%,
11/30/2054
(e)
6,000‌
6,231‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.45%
$
7,794‌
Insurance
-
12
.27
%
ACE
Capital
Trust
II
9.70%,
04/01/2030
2,570‌
2,995‌
Corebridge
Financial
Inc
6.38%,
09/15/2054
(e)
1,200‌
1,197‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
6.88%,
12/01/2030
(d),(e)
4,270‌
4,383‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.18%
6.88%,
12/15/2052
(e)
4,000‌
4,059‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.85%
Dai-ichi
Life
Insurance
Co
Ltd
6.20%,
01/16/2035
(d),(e),(i)
6,000‌
6,132‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.52%
Equitable
Holdings
Inc
6.70%,
03/28/2055
(e)
1,600‌
1,647‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.39%
Liberty
Mutual
Group
Inc
7.80%,
03/07/2087
(i)
6,100‌
6,826‌
3
Month
USD
LIBOR
+
3.58%
Liberty
Mutual
Insurance
Co
7.70%,
10/15/2097
(h),(i)
1,100‌
1,222‌
Meiji
Yasuda
Life
Insurance
Co
5.80%,
09/11/2054
(e),(i)
3,600‌
3,600‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.03%
6.10%,
06/11/2055
(e),(i)
4,650‌
4,739‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.91%
MetLife
Capital
Trust
IV
7.88%,
12/15/2067
(i)
2,200‌
2,405‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.96%
MetLife
Inc
5.85%,
03/15/2056
(e)
2,000‌
1,977‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.82%
9.25%,
04/08/2068
(i)
11,372‌
13,326‌
3
Month
USD
LIBOR
+
5.54%
10.75%,
08/01/2069
4,300‌
5,553‌
3
Month
USD
LIBOR
+
7.55%
Muenchener
Rueckversicherungs-Gesellschaft
AG
in
Muenchen
5.88%,
05/23/2042
(e),(i)
3,600‌
3,691‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.98%
Nippon
Life
Insurance
Co
2.75%,
01/21/2051
(e),(i)
4,600‌
4,110‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
2.90%,
09/16/2051
(e),(i)
10,500‌
9,331‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.60%
Schedule
of
Investments
Capital
Securities
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
49
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Insurance
(continued)
Nippon
Life
Insurance
Co
(continued)
6.50%,
04/30/2055
(e)
$
1,500‌
$
1,579‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.19%
Prudential
Financial
Inc
3.70%,
10/01/2050
(e)
8,000‌
7,363‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.04%
6.50%,
03/15/2054
(e)
785‌
808‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.40%
Reinsurance
Group
of
America
Inc
6.65%,
09/15/2055
(e)
400‌
404‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.39%
Sumitomo
Life
Insurance
Co
3.38%,
04/15/2081
(e),(i)
5,000‌
4,578‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.75%
5.88%,
09/10/2055
(e),(i)
4,000‌
3,992‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
Swiss
RE
Subordinated
Finance
PLC
5.70%,
04/05/2035
(e),(i)
1,600‌
1,614‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.81%
6.19%,
04/01/2046
(e),(i)
4,600‌
4,603‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.13%
Zurich
Finance
Ireland
Designated
Activity
Co
3.50%,
05/02/2052
(e)
7,200‌
6,456‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.79%
$
108,590‌
Oil
&
Gas
-
0
.86
%
BP
Capital
Markets
PLC
4.88%,
03/22/2030
(d),(e)
2,575‌
2,537‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.40%
Phillips
66
Co
6.20%,
03/15/2056
(e)
5,000‌
5,026‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.17%
$
7,563‌
Pipelines
-
6
.10
%
Enbridge
Inc
5.75%,
07/15/2080
(e)
5,000‌
5,044‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.31%
6.25%,
03/01/2078
(e)
11,000‌
11,080‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.90%
7.63%,
01/15/2083
(e)
2,000‌
2,182‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.42%
8.50%,
01/15/2084
(e)
4,650‌
5,318‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.43%
Energy
Transfer
LP
6.50%,
02/15/2056
(e)
2,600‌
2,621‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
6.75%,
02/15/2056
(e)
11,335‌
11,548‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.48%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Pipelines
(continued)
Enterprise
Products
Operating
LLC
5.25%,
08/16/2077
(e)
$
338‌
$
338‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.29%
5.38%,
02/15/2078
(e)
1,300‌
1,297‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.83%
TransCanada
PipeLines
Ltd
6.38%,
10/17/2056
(e)
1,000‌
1,010‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.12%
Transcanada
Trust
5.50%,
09/15/2079
(e)
6,400‌
6,368‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
4.42%
5.60%,
03/07/2082
(e)
7,300‌
7,227‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.99%
$
54,033‌
Sovereign
-
1
.54
%
CoBank
ACB
4.25%,
01/01/2027
(d),(e)
2,000‌
1,972‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.05%
6.45%,
10/01/2027
(d),(e)
5,000‌
5,025‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.49%
Farm
Credit
Bank
of
Texas
7.00%,
09/15/2030
(d),(e)
6,477‌
6,669‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.01%
$
13,666‌
Telecommunications
-
0
.79
%
TELUS
Corp
6.38%,
06/09/2056
(e)
4,700‌
4,696‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.69%
6.63%,
10/15/2055
(e)
1,100‌
1,115‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%
Verizon
Communications
Inc
6.05%,
05/14/2058
(e)
900‌
912‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.81%
6.20%,
05/14/2056
(e)
300‌
304‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.04%
$
7,027‌
TOTAL
BONDS
$
856,826‌
Total
Investments
$
908,693‌
Other
Assets
and
Liabilities
-  (2.65)%
(
23,429‌
)
TOTAL
NET
ASSETS
-
100.00%
$
885,264‌
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$30,926
or
3.49%
of
net
assets.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(d)
Perpetual
security.
Perpetual
securities
pay
an
indefinite
stream
of
interest,
but
they
may
be
called
by
the
issuer
at
an
earlier
date.
Date
shown,
if
any,
reflects
the
next
call
date
or
final
legal
maturity
date.
Rate
shown
is
as
of
period
end.
(e)
Rate
shown
is
as
of
period
end.
The
rate
may
be
a
variable
or
floating
rate
or
a
fixed
rate
which
may
convert
to
a
variable
or
floating
rate
in
the
future.
Schedule
of
Investments
Capital
Securities
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
50
(f)
Security
is
a
contingent
convertible
security,
("CoCo").
CoCo's
are
hybrid
debt
securities
that
may
convert
to
equity
or
have
their
principal
written
down
upon
occurrence
of
certain
"triggers".
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$199,585
or
22.55%
of
net
assets.
(g)
Security
purchased
on
a
when-issued
basis.
(h)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$29,859
or
3.37%
of
net
assets.
(i)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$159,521
or
18.02%
of
net
assets.
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
32,192‌
$
450,348‌
$
447,222‌
$
35,318‌
$
32,192‌
$
450,348‌
$
447,222‌
$
35,318‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
178‌
$
—‌
$
—‌
$
—‌
$
178‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Consolidated
Schedule
of
Investments
Diversified
Real
Asset
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
51
INVESTMENT
COMPANIES
-
10.71%
Shares
Held
Value
(000's)
Closed-End
Funds
-
0.24%
Sprott
Physical
Uranium
Trust
(a)
327,100‌
$
6,468‌
Exchange-Traded
Funds
-
7.16%
abrdn
Bloomberg
All
Commodity
Strategy
K-1
Free
ETF
481,710‌
11,773‌
Global
X
US
Infrastructure
Development
ETF
1,469,200‌
82,731‌
iShares
Global
Infrastructure
ETF
323,498‌
21,545‌
SPDR
Gold
MiniShares
Trust
(a),(b)
545,820‌
49,085‌
State
Street
SPDR
S&P
Global
Natural
Resources
ETF
163,575‌
12,031‌
Vanguard
Real
Estate
ETF
161,664‌
15,471‌
$
192,636‌
Money
Market
Funds
-
3.31%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(c),(e)
6,003,663‌
6,004‌
BlackRock
Liquidity
Funds
Treasury
Trust
Fund
-
Institutional
Class
3.53%
(a),(c)
11,279,043‌
11,279‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(c),(d),(e)
71,743,611‌
71,743‌
$
89,026‌
TOTAL
INVESTMENT
COMPANIES
$
288,130‌
COMMON
STOCKS
-
77.13%
Shares
Held
Value
(000's)
Agriculture
-
1.05%
Archer-Daniels-Midland
Co
168,042‌
$
13,406‌
Bunge
Global
SA
74,755‌
9,217‌
Darling
Ingredients
Inc
(f)
24,818‌
1,467‌
Wilmar
International
Ltd
1,503,100‌
4,229‌
$
28,319‌
Biotechnology
-
0.64%
Corteva
Inc
220,282‌
17,244‌
Building
Materials
-
0.57%
Boise
Cascade
Co
3,651‌
255‌
Builders
FirstSource
Inc
(f)
1,523‌
116‌
CRH
PLC
42,364‌
4,609‌
Interfor
Corp
(f)
53,102‌
422‌
Louisiana-Pacific
Corp
14,663‌
1,120‌
Masterbrand
Inc
(f)
12,846‌
111‌
Stella-Jones
Inc
3,376‌
189‌
Svenska
Cellulosa
AB
SCA
424,719‌
4,672‌
UFP
Industries
Inc
4,159‌
337‌
West
Fraser
Timber
Co
Ltd
49,424‌
3,416‌
$
15,247‌
Chemicals
-
1.42%
CF
Industries
Holdings
Inc
46,863‌
5,265‌
FMC
Corp
19,599‌
268‌
ICL
Group
Ltd
413,830‌
2,720‌
Ingevity
Corp
(f)
4,988‌
338‌
Mosaic
Co/The
49,799‌
1,190‌
Nutrien
Ltd
209,244‌
14,329‌
Nutrien
Ltd
132,688‌
9,096‌
Yara
International
ASA
93,340‌
5,067‌
$
38,273‌
Commercial
Services
-
1.32%
Anhui
Expressway
Co
Ltd
(g)
326,000‌
674‌
Atlas
Arteria
Ltd
933,455‌
3,305‌
Cengage
Learning
Holdings
II
Inc
(f)
2,772‌
51‌
China
Merchants
Port
Holdings
Co
Ltd
970,000‌
1,906‌
COSCO
SHIPPING
Ports
Ltd
1,126,000‌
716‌
GEK
TERNA
SA
33,329‌
1,663‌
Hutchison
Port
Holdings
Trust
4,116,900‌
844‌
International
Container
Terminal
Services
Inc
162,060‌
1,980‌
Jiangsu
Expressway
Co
Ltd
1,012,000‌
1,355‌
Shenzhen
Expressway
Corp
Ltd
492,000‌
432‌
Shenzhen
International
Holdings
Ltd
(g)
1,134,500‌
862‌
SIA
Engineering
Co
Ltd
201,400‌
510‌
Sichuan
Expressway
Co
Ltd
(g)
502,000‌
370‌
Transurban
Group
1,819,702‌
19,571‌
Zhejiang
Expressway
Co
Ltd
1,348,000‌
1,156‌
$
35,395‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Consumer
Products
-
0.09%
Avery
Dennison
Corp
12,127‌
$
1,929‌
Kimberly-Clark
Corp
4,083‌
399‌
$
2,328‌
Cosmetics
&
Personal
Care
-
0.04%
Essity
AB
15,852‌
445‌
Procter
&
Gamble
Co/The
1,242‌
178‌
Unicharm
Corp
85,700‌
510‌
$
1,133‌
Electric
-
14.11%
Alliant
Energy
Corp
115,825‌
8,294‌
Ameren
Corp
67,248‌
7,261‌
American
Electric
Power
Co
Inc
133,734‌
16,940‌
Axia
Energia
SA
661,531‌
6,851‌
Axia
Energia
SA
ADR
52,924‌
548‌
Black
Hills
Corp
8,936‌
651‌
Brookfield
Renewable
Corp
(g)
391,143‌
15,638‌
CenterPoint
Energy
Inc
143,048‌
6,045‌
CGN
Power
Co
Ltd
(h)
616,000‌
244‌
China
Longyuan
Power
Group
Corp
Ltd
192,000‌
166‌
China
Resources
Power
Holdings
Co
Ltd
124,000‌
336‌
Cia
Energetica
de
Minas
Gerais
ADR
110,457‌
237‌
Cia
Paranaense
de
Energia
-
Copel
3,886,648‌
11,149‌
Cia
Paranaense
de
Energia
-
Copel
ADR
26,805‌
306‌
Clearway
Energy
Inc
-
Class
C
321,189‌
13,220‌
Constellation
Energy
Corp
52,145‌
15,005‌
Dominion
Energy
Inc
50,027‌
3,349‌
Duke
Energy
Corp
45,338‌
5,564‌
E.ON
SE
823,929‌
17,491‌
Edison
International
129,603‌
9,064‌
Elia
Group
SA/NV
18,236‌
2,835‌
Enel
SpA
2,368,504‌
26,577‌
Engie
SA
947,029‌
29,215‌
Entergy
Corp
363,010‌
39,586‌
Evergy
Inc
34,203‌
2,806‌
Exelon
Corp
59,948‌
2,736‌
Huaneng
Power
International
Inc
236,000‌
219‌
Iberdrola
SA
748,365‌
16,990‌
IDACORP
Inc
14,495‌
2,033‌
National
Grid
PLC
(g)
565,079‌
9,070‌
NextEra
Energy
Inc
365,335‌
31,787‌
NRG
Energy
Inc
59,733‌
8,009‌
OGE
Energy
Corp
230,936‌
10,907‌
PG&E
Corp
129,130‌
2,110‌
Portland
General
Electric
Co
196,664‌
9,857‌
Public
Service
Enterprise
Group
Inc
118,945‌
9,355‌
RWE
AG
66,325‌
4,215‌
Sempra
38,222‌
3,407‌
Southern
Co/The
71,812‌
6,611‌
SSE
PLC
128,537‌
4,019‌
Vistra
Corp
30,299‌
4,855‌
Xcel
Energy
Inc
174,907‌
13,905‌
$
379,463‌
Engineering
&
Construction
-
4.78%
Aena
SME
SA
(h)
914,083‌
26,523‌
Aeroports
de
Paris
SA
122,243‌
16,379‌
Auckland
International
Airport
Ltd
2,153,783‌
10,665‌
Beijing
Capital
International
Airport
Co
Ltd
(f)
1,528,000‌
334‌
Corp
America
Airports
SA
(f)
25,254‌
672‌
Dalrymple
Bay
Infrastructure
Ltd
986,826‌
3,924‌
Enav
SpA
(h)
1,273,382‌
8,010‌
Ferrovial
NV
20,086‌
1,374‌
Ferrovial
NV
-
Rights
(f)
19,369‌
13‌
Flughafen
Zurich
AG
20,310‌
6,158‌
Fraport
AG
Frankfurt
Airport
Services
Worldwide
25,955‌
2,182‌
Grupo
Aeroportuario
del
Centro
Norte
SAB
de
CV
ADR
71,918‌
7,215‌
Grupo
Aeroportuario
del
Pacifico
SAB
de
CV
ADR
47,349‌
11,189‌
Grupo
Aeroportuario
del
Sureste
SAB
de
CV
255,032‌
7,560‌
Grupo
Aeroportuario
del
Sureste
SAB
de
CV
ADR
22,563‌
6,687‌
Consolidated
Schedule
of
Investments
Diversified
Real
Asset
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
52
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Engineering
&
Construction
(continued)
Japan
Airport
Terminal
Co
Ltd
76,000‌
$
2,304‌
SATS
Ltd
741,000‌
2,236‌
Vinci
SA
104,336‌
15,174‌
$
128,599‌
Environmental
Control
-
0.36%
GFL
Environmental
Inc
47,280‌
1,586‌
Republic
Services
Inc
5,964‌
1,195‌
Waste
Connections
Inc
18,807‌
2,803‌
Waste
Management
Inc
19,367‌
4,095‌
$
9,679‌
Food
-
0.04%
Ingredion
Inc
9,884‌
1,003‌
Forest
Products
&
Paper
-
1.38%
Acadian
Timber
Corp
(g)
30,700‌
391‌
Canfor
Corp
(f)
54,328‌
557‌
Empresas
CMPC
SA
178,231‌
213‌
Holmen
AB
15,043‌
500‌
International
Paper
Co
430,223‌
14,399‌
Mondi
PLC
302,988‌
3,065‌
Nine
Dragons
Paper
Holdings
Ltd
(f)
576,000‌
489‌
Oji
Holdings
Corp
647,200‌
3,178‌
Sappi
Ltd
(f),(g)
115,845‌
88‌
Suzano
SA
ADR
(g)
383,602‌
3,138‌
Suzano
SA
112,700‌
930‌
Sylvamo
Corp
7,195‌
283‌
UPM-Kymmene
Oyj
334,577‌
9,775‌
$
37,006‌
Gas
-
1.07%
AltaGas
Ltd
61,432‌
2,391‌
China
Gas
Holdings
Ltd
166,800‌
148‌
Italgas
SpA
113,457‌
1,331‌
NiSource
Inc
170,586‌
7,884‌
Sembcorp
Industries
Ltd
442,700‌
2,217‌
Snam
SpA
2,014,972‌
14,726‌
$
28,697‌
Hand
&
Machine
Tools
-
0.02%
Makita
Corp
11,500‌
399‌
Healthcare
-
Products
-
0.00%
Carestream
Health
Inc
(f)
17,410‌
4‌
Healthcare
-
Services
-
0.11%
Chartwell
Retirement
Residences
210,700‌
3,087‌
Home
Builders
-
0.06%
DR
Horton
Inc
2,465‌
363‌
KB
Home
1,275‌
62‌
Meritage
Homes
Corp
1,397‌
91‌
PulteGroup
Inc
2,923‌
346‌
Sumitomo
Forestry
Co
Ltd
63,000‌
516‌
Toll
Brothers
Inc
2,413‌
334‌
$
1,712‌
Housewares
-
0.02%
Scotts
Miracle-Gro
Co/The
7,011‌
414‌
Investment
Companies
-
0.06%
Infratil
Ltd
167,499‌
1,576‌
Iron
&
Steel
-
1.39%
ArcelorMittal
SA
30,515‌
2,101‌
ArcelorMittal
SA
142,137‌
9,866‌
Fortescue
Ltd
119,028‌
1,912‌
Nippon
Steel
Corp
384,600‌
1,369‌
Novolipetsk
Steel
PJSC
(f)
1,124,750‌
—‌
Nucor
Corp
49,840‌
12,460‌
POSCO
Holdings
Inc
5,388‌
1,518‌
Reliance
Inc
3,743‌
1,425‌
Severstal
PAO
(f)
149,085‌
—‌
Steel
Dynamics
Inc
9,827‌
2,556‌
Vale
SA
ADR
256,709‌
4,171‌
$
37,378‌
Lodging
-
0.19%
Hilton
Worldwide
Holdings
Inc
15,700‌
5,144‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Machinery
-
Diversified
-
0.28%
ANDRITZ
AG
3,608‌
$
328‌
CNH
Industrial
NV
657,240‌
6,711‌
Kadant
Inc
915‌
292‌
Valmet
Oyj
9,225‌
250‌
$
7,581‌
Mining
-
6.64%
Agnico
Eagle
Mines
Ltd
35,860‌
6,593‌
Agnico
Eagle
Mines
Ltd
67,826‌
12,422‌
Alamos
Gold
Inc
121,095‌
4,941‌
Alcoa
Corp
47,273‌
3,670‌
Anglo
American
PLC
221,684‌
11,863‌
Anglogold
Ashanti
Plc
30,353‌
2,939‌
Antofagasta
PLC
24,702‌
1,361‌
Barrick
Mining
Corp
119,883‌
5,122‌
BHP
Group
Ltd
357,644‌
15,922‌
Cameco
Corp
22,378‌
2,515‌
Cameco
Corp
22,502‌
2,536‌
Capstone
Copper
Corp
(f)
268,435‌
2,923‌
China
Hongqiao
Group
Ltd
235,500‌
844‌
First
Quantum
Minerals
Ltd
(f)
48,309‌
1,487‌
Franco-Nevada
Corp
13,758‌
3,187‌
Freeport-McMoRan
Inc
324,685‌
21,335‌
Glencore
PLC
(f)
680,509‌
5,176‌
Gold
Fields
Ltd
ADR
64,074‌
2,554‌
Hudbay
Minerals
Inc
116,646‌
3,401‌
Impala
Platinum
Holdings
Ltd
ADR
127,835‌
1,823‌
Ivanhoe
Mines
Ltd
(f)
54,028‌
479‌
Kinross
Gold
Corp
85,875‌
2,609‌
Newmont
Corp
205,204‌
22,534‌
Norsk
Hydro
ASA
511,564‌
6,256‌
Northern
Star
Resources
Ltd
102,426‌
1,396‌
Polyus
PJSC
(f)
124,590‌
—‌
Rio
Tinto
Ltd
26,618‌
3,560‌
Rio
Tinto
PLC
111,626‌
11,856‌
Royal
Gold
Inc
27,302‌
6,129‌
Southern
Copper
Corp
5,972‌
1,142‌
Teck
Resources
Ltd
31,978‌
2,121‌
Valterra
Platinum
Ltd
20,216‌
1,676‌
Wheaton
Precious
Metals
Corp
32,452‌
4,363‌
Zijin
Mining
Group
Co
Ltd
428,000‌
1,794‌
$
178,529‌
Oil
&
Gas
-
7.50%
Antero
Resources
Corp
(f)
163,233‌
5,836‌
BP
PLC
2,736,614‌
19,330‌
Canadian
Natural
Resources
Ltd
208,592‌
9,486‌
Cenovus
Energy
Inc
69,441‌
1,917‌
Chevron
Corp
40,172‌
7,330‌
ConocoPhillips
134,150‌
15,291‌
Devon
Energy
Corp
24,673‌
1,098‌
Diamondback
Energy
Inc
69,675‌
13,342‌
Ecopetrol
SA
ADR
12,651‌
185‌
Empresas
Copec
SA
49,717‌
353‌
Eni
SpA
106,499‌
2,786‌
EOG
Resources
Inc
11,629‌
1,551‌
EQT
Corp
89,334‌
4,907‌
Equinor
ASA
43,266‌
1,564‌
Expand
Energy
Corp
62,320‌
5,794‌
Exxon
Mobil
Corp
177,899‌
25,841‌
Imperial
Oil
Ltd
(g)
7,785‌
924‌
Kunlun
Energy
Co
Ltd
218,000‌
199‌
Marathon
Petroleum
Corp
36,888‌
9,177‌
Occidental
Petroleum
Corp
200,551‌
11,357‌
Petroleo
Brasileiro
SA
-
Petrobras
ADR
95,407‌
1,791‌
Phillips
66
41,088‌
7,227‌
Reliance
Industries
Ltd
(h)
86,741‌
4,851‌
Repsol
SA
56,682‌
1,463‌
Shell
PLC
291,130‌
12,302‌
Suncor
Energy
Inc
(g)
61,086‌
3,818‌
Suncor
Energy
Inc
207,129‌
12,917‌
Consolidated
Schedule
of
Investments
Diversified
Real
Asset
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
53
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Oil
&
Gas
(continued)
TotalEnergies
SE
104,099‌
$
9,134‌
Valero
Energy
Corp
6,537‌
1,600‌
Weatherford
International
PLC
59,078‌
6,123‌
Woodside
Energy
Group
Ltd
97,486‌
2,132‌
$
201,626‌
Oil
&
Gas
Services
-
0.65%
Baker
Hughes
Co
21,179‌
1,353‌
Halliburton
Co
17,950‌
698‌
SLB
Ltd
281,105‌
15,334‌
$
17,385‌
Packaging
&
Containers
-
1.15%
Amcor
PLC
72,492‌
2,814‌
Billerud
Aktiebolag
43,048‌
285‌
Graphic
Packaging
Holding
Co
85,149‌
959‌
Klabin
SA
165,391‌
550‌
Packaging
Corp
of
America
58,118‌
12,722‌
SIG
Group
AG
(f)
221,490‌
3,417‌
Smurfit
Westrock
PLC
106,915‌
4,400‌
Sonoco
Products
Co
10,535‌
513‌
Stora
Enso
Oyj
446,224‌
5,222‌
$
30,882‌
Pipelines
-
8.15%
Antero
Midstream
Corp
24,041‌
504‌
APA
Group
2,787,763‌
20,172‌
Cheniere
Energy
Inc
45,296‌
10,185‌
DT
Midstream
Inc
87,031‌
12,182‌
Enbridge
Inc
479,603‌
26,314‌
Enbridge
Inc
145,455‌
7,962‌
Energy
Transfer
LP
112,356‌
2,154‌
Gaztransport
Et
Technigaz
SA
2,695‌
621‌
Keyera
Corp
16,768‌
696‌
Kinder
Morgan
Inc
283,037‌
8,797‌
ONEOK
Inc
189,884‌
15,939‌
Pembina
Pipeline
Corp
504,744‌
23,545‌
Rockpoint
Gas
Storage
Inc
33,432‌
714‌
South
Bow
Corp
474,864‌
17,084‌
Targa
Resources
Corp
41,478‌
10,580‌
TC
Energy
Corp
434,529‌
28,953‌
Williams
Cos
Inc/The
460,784‌
32,895‌
$
219,297‌
Real
Estate
-
2.42%
CBRE
Group
Inc
(f)
27,927‌
3,492‌
City
Developments
Ltd
703,200‌
4,726‌
CoStar
Group
Inc
(f)
81,642‌
2,629‌
CTP
NV
(h)
156,600‌
2,968‌
Jones
Lang
LaSalle
Inc
(f)
6,200‌
1,750‌
Mitsubishi
Estate
Co
Ltd
594,900‌
15,032‌
Mitsui
Fudosan
Co
Ltd
566,200‌
5,420‌
Qualitas
Ltd
(g)
1,418,189‌
2,911‌
Sky
Harbour
Group
Corp
(f),(g)
19,710‌
185‌
Sumitomo
Realty
&
Development
Co
Ltd
236,700‌
5,521‌
Sun
Hung
Kai
Properties
Ltd
853,600‌
14,336‌
Swire
Properties
Ltd
1,035,400‌
2,940‌
TAG
Immobilien
AG
196,000‌
3,243‌
$
65,153‌
REITs
-
18.16%
Agree
Realty
Corp
145,709‌
10,804‌
Alexandria
Real
Estate
Equities
Inc
73,772‌
3,665‌
American
Healthcare
REIT
Inc
171,711‌
8,395‌
American
Homes
4
Rent
332,906‌
10,680‌
American
Tower
Corp
43,314‌
8,098‌
AvalonBay
Communities
Inc
64,609‌
11,792‌
Blackstone
Digital
Infrastructure
Trust
Inc
(f)
139,054‌
3,008‌
Boardwalk
Real
Estate
Investment
Trust
44,200‌
2,055‌
British
Land
Co
PLC/The
637,943‌
3,477‌
BXP
Inc
71,047‌
4,264‌
Camden
Property
Trust
36,385‌
3,877‌
CapitaLand
Integrated
Commercial
Trust
4,732,215‌
8,423‌
COPT
Defense
Properties
180,769‌
5,795‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
REITs
(continued)
Cousins
Properties
Inc
143,038‌
$
3,835‌
Crown
Castle
Inc
42,183‌
3,860‌
Curbline
Properties
Corp
149,392‌
4,352‌
Digital
Realty
Trust
Inc
86,685‌
16,470‌
Equinix
Inc
37,690‌
40,254‌
Equity
LifeStyle
Properties
Inc
67,960‌
4,198‌
Equity
Residential
61,589‌
4,031‌
Essex
Property
Trust
Inc
40,021‌
10,911‌
Extra
Space
Storage
Inc
114,472‌
16,520‌
Federal
Realty
Investment
Trust
34,630‌
4,143‌
Gaming
and
Leisure
Properties
Inc
123,861‌
5,818‌
Goodman
Group
854,205‌
19,411‌
Healthpeak
Properties
Inc
216,043‌
4,137‌
Host
Hotels
&
Resorts
Inc
192,808‌
4,431‌
InvenTrust
Properties
Corp
210,183‌
6,963‌
Invitation
Homes
Inc
146,967‌
4,299‌
Iron
Mountain
Inc
34,328‌
4,403‌
Janus
Living
Inc
97,975‌
2,623‌
Japan
Hotel
REIT
Investment
Corp
4,995‌
2,402‌
Keppel
DC
REIT
2,862,028‌
5,180‌
Kimco
Realty
Corp
159,928‌
3,851‌
Klepierre
SA
112,988‌
4,609‌
Link
REIT
1,058,614‌
5,457‌
Macerich
Co/The
160,514‌
3,615‌
Merlin
Properties
Socimi
SA
315,856‌
5,549‌
Mid-America
Apartment
Communities
Inc
28,831‌
3,721‌
Mitsui
Fudosan
Accommodations
Fund
Inc
5,803‌
4,586‌
Nippon
Prologis
REIT
Inc
5,401‌
2,891‌
Prologis
Inc
291,757‌
41,859‌
Prologis
Property
Mexico
SA
de
CV
466,565‌
2,238‌
Public
Storage
12,314‌
3,740‌
Rayonier
Inc
69,984‌
1,462‌
Realty
Income
Corp
57,186‌
3,504‌
Regency
Centers
Corp
139,246‌
10,770‌
Ryman
Hospitality
Properties
Inc
59,543‌
6,855‌
Sabra
Health
Care
REIT
Inc
261,345‌
5,198‌
Safestore
Holdings
PLC
420,645‌
3,649‌
SBA
Communications
Corp
19,583‌
3,978‌
Segro
PLC
400,050‌
3,878‌
Sekisui
House
Reit
Inc
4,900‌
2,522‌
Simon
Property
Group
Inc
37,113‌
7,605‌
UDR
Inc
102,624‌
3,787‌
Unibail-Rodamco-Westfield
(f)
129,569‌
14,978‌
Uniti
Group
Inc
-
Warrants
(f)
5,235‌
59‌
Ventas
Inc
282,027‌
23,809‌
VICI
Properties
Inc
129,765‌
3,662‌
Vornado
Realty
Trust
117,106‌
3,952‌
Welltower
Inc
221,182‌
45,415‌
Weyerhaeuser
Co
346,599‌
8,495‌
$
488,268‌
Retail
-
0.02%
Gymboree
Corp/The
(f),(i)
17,842‌
—‌
Gymboree
Holding
Corp
(f),(i)
48,577‌
—‌
Home
Depot
Inc/The
837‌
265‌
Lowe's
Cos
Inc
1,133‌
243‌
$
508‌
Semiconductors
-
0.00%
Bright
Bidco
-
1145
Shares
(f)
11,047‌
3‌
Bright
Bidco
-
4A2
Shares
(f)
15,092‌
4‌
$
7‌
Software
-
0.00%
Bloom
Parent
Inc
(f),(i)
103‌
103‌
Riverbed
Technology
Inc
(f)
15,335‌
—‌
$
103‌
Storage
&
Warehousing
-
0.03%
Westshore
Terminals
Investment
Corp
26,069‌
799‌
Consolidated
Schedule
of
Investments
Diversified
Real
Asset
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
54
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Telecommunications
-
0.33%
MLN
US
Holdco
LLC
(f),(i)
1,264‌
$
—‌
NEXTDC
Ltd
(f)
818,841‌
8,957‌
$
8,957‌
Transportation
-
2.24%
Canadian
National
Railway
Co
158,868‌
18,812‌
Canadian
National
Railway
Co
18,423‌
2,184‌
Canadian
Pacific
Kansas
City
Ltd
42,903‌
3,832‌
COSCO
SHIPPING
Energy
Transportation
Co
Ltd
(f)
96,000‌
196‌
CSX
Corp
85,389‌
3,865‌
Frontline
PLC
10,342‌
353‌
Getlink
SE
884,942‌
19,337‌
Qube
Holdings
Ltd
2,537,128‌
9,129‌
Union
Pacific
Corp
9,927‌
2,607‌
$
60,315‌
Water
-
0.84%
Cia
de
Saneamento
Basico
do
Estado
de
Sao
Paulo
SABESP
ADR
137,131‌
757‌
Pennon
Group
PLC
1,075,468‌
7,458‌
Severn
Trent
PLC
297,666‌
11,869‌
Veolia
Environnement
SA
62,194‌
2,509‌
$
22,593‌
TOTAL
COMMON
STOCKS
$
2,074,103‌
PREFERRED
STOCKS
-
0.01%
Shares
Held
Value
(000's)
REITs
-
0.01%
Uniti
Group
Inc
0.00%
(f),(i)
171‌
$
187‌
TOTAL
PREFERRED
STOCKS
$
187‌
SENIOR
FLOATING
RATE
INTERESTS
-
0.01%
Principal
Amount
(000's)
Value
(000's)
Beverages
-
0.00%
BrewCo
Borrower
LLC
10.64%,
09/30/2030
$
45‌
$
4‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
7.00%
10.66%,
09/30/2030
10‌
4‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
7.00%
$
8‌
Commercial
Services
-
0.00%
Medical
Solutions
Holdings
Inc
;
Term
Loan
B
7.27%,
10/06/2028
16‌
2‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.50%
Diversified
Financial
Services
-
0.00%
Ditech
Holding
Corp
;
Term
Loan
B-Exit
0.00%,
06/30/2022
(f),(i)
792‌
—‌
3
Month
USD
LIBOR
+
6.00%
Healthcare
-
Products
-
0.00%
Vyaire
Medical
Inc
0.00%,
10/10/2024
(f),(i)
287‌
—‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.00%
0.00%,
04/16/2025
(f),(i)
510‌
—‌
$
—‌
Healthcare
-
Services
-
0.01%
Medical
Solutions
LLC
7.26%,
11/01/2028
227‌
159‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.50%
Pipelines
-
0.00%
New
Fortress
Energy
Inc
;
Term
Loan
B
0.00%,
10/27/2028
(f)
1‌
1‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
5.50%
SENIOR
FLOATING
RATE
INTERESTS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Retail
-
0.00%
Serta
Simmons
Bedding
LLC
;
Term
Loan
Exit
11.30%,
06/29/2028
$
19‌
$
18‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
7.50%
Software
-
0.00%
West
Technology
Group
LLC
;
Term
Loan
B3
7.91%,
04/09/2027
213‌
33‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
4.00%
Telecommunications
-
0.00%
Cyborg
Oldco
DC
Holdings
Inc
;
Term
Loan
B
0.00%,
05/01/2024
(f),(i)
277‌
—‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
3.00%
TOTAL
SENIOR
FLOATING
RATE
INTERESTS
$
221‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
-
12.73%
Principal
Amount
(000's)
Value
(000's)
U.S.
Treasury
Bill
-
12.73%
3.48%,
06/25/2026
(a),(j),(k)
$
65,400‌
$
65,241‌
3.49%,
07/16/2026
(a),(j),(k)
15,025‌
14,958‌
3.52%,
07/30/2026
(a),(j),(k)
2,000‌
1,988‌
3.53%,
08/27/2026
(a),(j),(k),(l)
1,600‌
1,586‌
3.58%,
07/14/2026
(a),(j)
32,105‌
31,966‌
3.59%,
07/07/2026
(a),(j)
65,435‌
65,198‌
3.59%,
10/01/2026
(a),(j)
3,000‌
2,963‌
3.60%,
07/09/2026
(a),(j)
9,775‌
9,738‌
3.60%,
07/23/2026
(a),(j)
1,165‌
1,159‌
3.60%,
10/15/2026
(a),(j),(k)
4,500‌
4,438‌
3.61%,
06/09/2026
(a),(j)
2,205‌
2,203‌
3.61%,
06/11/2026
(a),(j)
9,250‌
9,241‌
3.61%,
06/16/2026
(a),(j)
13,960‌
13,939‌
3.61%,
06/23/2026
(a),(j)
15,860‌
15,825‌
3.61%,
07/02/2026
(a),(j)
20,620‌
20,556‌
3.62%,
06/30/2026
(a),(j)
19,400‌
19,343‌
3.62%,
07/28/2026
(a),(j)
1,180‌
1,173‌
3.62%,
11/19/2026
(a),(j)
6,240‌
6,132‌
3.64%,
06/18/2026
(a),(j),(l)
54,925‌
54,831‌
$
342,478‌
TOTAL
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
$
342,478‌
Total
Investments
$
2,705,119‌
Other
Assets
and
Liabilities
-  (0.59)%
(15,893‌)
TOTAL
NET
ASSETS
-
100.00%
$
2,689,226‌
(a)
All
or
a
portion
of
this
security
is
owned
by
the
DRA
Cayman
Corporation,
which
is
a
wholly-owned
subsidiary
of
the
Fund.
(b)
The
Trust
is
not
registered
as
an
investment
company
under
the
Investment
Company
Act
of
1940,
as
amended,
and
is
not
required
to
register
under
such
act.
Consequently,
shareholders
do
not
have
the
regulatory
protections
provided
to
investors
in
registered
investment
companies.
The
Trust
sells
shares
under
the
Securities
Act
of
1933
and
files
reports
pursuant
to
the
Securities
Act
of
1934.
(c)
1-day
yield
shown
is
as
of
period
end.
(d)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(e)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$23,654
or
0.88%
of
net
assets.
(f)
Non-income
producing
security
(g)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$22,879
or
0.85%
of
net
assets.
(h)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$42,596
or
1.58%
of
net
assets.
Consolidated
Schedule
of
Investments
Diversified
Real
Asset
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
55
(i)
The
value
of
these
investments
was
determined
using
significant
unobservable
inputs,
in
good
faith
by
the
Manager,
under
procedures
established
and
periodically
reviewed
by
the
Board
of
Directors.
(j)
Rate
shown
is
the
discount
rate
of
the
original
purchase.
(k)
Security
or
a
portion
of
the
security
was
pledged
to
cover
margin
requirements
for
swap
and/or
swaption
contracts.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$8,497
or
0.32%
of
net
assets.
(l)
Security
or
a
portion
of
the
security
was
pledged
to
cover
margin
requirements
for
futures
contracts.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$20,058
or
0.75%
of
net
assets.
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
51,139‌
$
1,701,966‌
$
1,681,362‌
$
71,743‌
$
51,139‌
$
1,701,966‌
$
1,681,362‌
$
71,743‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
1,169‌
$
—‌
$
—‌
$
—‌
$
1,169‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Futures
Contracts
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
Brent
Crude;
August
2026
(a)
Long
319‌
$
29,067‌
$
(989‌)
Brent
Crude;
December
2026
(a)
Long
47‌
3,956‌
130‌
Brent
Crude;
November
2026
(a)
Long
7‌
599‌
(39‌)
Brent
Crude;
September
2026
(a)
Long
33‌
2,941‌
(244‌)
California
Carbon
Allowance
Vintage;
December
2026
(a)
Long
189‌
5,927‌
(2‌)
California
Low
Carbon
Fuel;
December
2026
(a)
Long
100‌
735‌
117‌
Cocoa;
December
2026
(a)
Long
12‌
492‌
(30‌)
Cocoa;
July
2026
(a)
Long
27‌
1,059‌
136‌
Cocoa;
September
2026
(a)
Short
3‌
120‌
7‌
Coffee
'C';
December
2026
(a)
Long
9‌
848‌
(56‌)
Coffee
'C';
July
2026
(a)
Long
3‌
299‌
(20‌)
Coffee
'C';
September
2026
(a)
Short
1‌
97‌
7‌
Copper;
December
2026
(a)
Long
7‌
1,144‌
71‌
Copper;
July
2026
(a)
Short
1‌
160‌
(8‌)
Copper;
July
2026
(a)
Long
82‌
13,097‌
403‌
Copper;
September
2026
(a)
Short
2‌
322‌
2‌
Corn;
December
2026
(a)
Short
57‌
1,354‌
50‌
Corn;
July
2026
(a)
Long
853‌
19,053‌
(715‌)
Corn;
September
2026
(a)
Short
7‌
160‌
9‌
Cotton
No.2;
December
2026
(a)
Long
21‌
836‌
(9‌)
Cotton
No.2;
July
2026
(a)
Short
20‌
761‌
3‌
Cotton
No.2;
July
2026
(a)
Long
94‌
3,579‌
(279‌)
Euro
Milling
Wheat;
September
2026
(a)
Long
526‌
6,365‌
60‌
Feeder
Cattle;
August
2026
(a)
Long
3‌
523‌
(32‌)
Feeder
Cattle;
October
2026
(a)
Long
1‌
171‌
(13‌)
Gasoline
RBOB;
July
2026
(a)
Long
36‌
4,588‌
(457‌)
Gasoline
RBOB;
November
2026
(a)
Long
13‌
1,387‌
(75‌)
Gasoline
RBOB;
October
2026
(a)
Short
2‌
222‌
—‌
Gold
100
oz;
August
2026
(a)
Long
105‌
48,226‌
(6,023‌)
Gold
100
oz;
December
2026
(a)
Long
6‌
2,796‌
(102‌)
KC
HRW
Wheat;
December
2026
(a)
Long
14‌
474‌
(27‌)
KC
HRW
Wheat;
July
2026
(a)
Short
10‌
325‌
(9‌)
KC
HRW
Wheat;
September
2026
(a)
Short
2‌
66‌
6‌
Lean
Hogs;
August
2026
(a)
Short
2‌
79‌
6‌
Lean
Hogs;
July
2026
(a)
Long
5‌
199‌
(9‌)
Lean
Hogs;
October
2026
(a)
Long
20‌
683‌
(51‌)
Live
Cattle;
October
2026
(a)
Long
8‌
737‌
(26‌)
LME
Copper;
December
2026
(a)
Short
—‌
—‌
(91‌)
LME
Copper;
July
2026
(a)
Short
1‌
340‌
19‌
LME
Copper;
June
2026
(a)
Short
—‌
—‌
(7‌)
LME
Copper;
June
2026
(a)
Short
—‌
—‌
(733‌)
LME
Copper;
November
2026
(a)
Long
2‌
682‌
24‌
LME
Copper;
September
2026
(a)
Short
—‌
—‌
9‌
LME
Copper;
September
2026
(a)
Long
74‌
25,226‌
684‌
LME
Lead;
July
2026
(a)
Short
2‌
100‌
(46‌)
LME
Lead;
November
2026
(a)
Long
14‌
716‌
12‌
LME
Lead;
September
2026
(a)
Short
1‌
51‌
(3‌)
LME
Nickel;
December
2026
(a)
Long
2‌
231‌
(1‌)
LME
Nickel;
July
2026
(a)
Short
3‌
341‌
(66‌)
LME
Nickel;
July
2026
(a)
Long
82‌
9,339‌
460‌
Consolidated
Schedule
of
Investments
Diversified
Real
Asset
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
56
Futures
Contracts
(continued)
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
LME
Nickel;
June
2026
(a)
Short
—‌
$
—‌
$
(25‌)
LME
Nickel;
June
2026
(a)
Short
—‌
—‌
(85‌)
LME
Nickel;
November
2026
(a)
Long
8‌
922‌
(26‌)
LME
Nickel;
September
2026
(a)
Short
1‌
115‌
102‌
LME
Primary
Alum;
December
2026
(a)
Long
5‌
446‌
10‌
LME
Primary
Alum;
December
2026
(a)
Short
—‌
—‌
27‌
LME
Primary
Alum;
July
2026
(a)
Short
2‌
185‌
58‌
LME
Primary
Alum;
July
2026
(a)
Long
353‌
32,652‌
1,434‌
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
(40‌)
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
1,663‌
LME
Primary
Alum;
November
2026
(a)
Long
14‌
1,260‌
40‌
LME
Primary
Alum;
September
2026
(a)
Short
2‌
183‌
130‌
LME
Tin;July
2026
(a)
Short
—‌
—‌
11‌
LME
Tin;November
2026
(a)
Long
1‌
278‌
28‌
LME
Tin;September
2026
(a)
Short
—‌
—‌
(6‌)
LME
Zinc;
July
2026
(a)
Short
1‌
88‌
35‌
LME
Zinc;
November
2026
(a)
Long
13‌
1,147‌
47‌
LME
Zinc;
September
2026
(a)
Short
1‌
89‌
11‌
Low
Sulphur
Gasoline;
July
2026
(a)
Long
102‌
10,213‌
674‌
Low
Sulphur
Gasoline;
November
2026
(a)
Long
15‌
1,371‌
(57‌)
Natural
Gas;
December
2026
(a)
Long
48‌
1,980‌
(110‌)
Natural
Gas;
July
2026
(a)
Long
7‌
230‌
14‌
Natural
Gas;
June
2027
(a)
Short
51‌
1,568‌
27‌
Natural
Gas;
November
2026
(a)
Long
32‌
1,133‌
12‌
Natural
Gas;
October
2026
(a)
Long
38‌
1,264‌
52‌
NY
Harbor
ULSD;
August
2026
(a)
Long
8‌
1,154‌
304‌
NY
Harbor
ULSD;
July
2026
(a)
Long
39‌
5,715‌
(426‌)
NY
Harbor
ULSD;
November
2026
(a)
Long
10‌
1,380‌
(30‌)
NY
Harbor
ULSD;
September
2026
(a)
Short
2‌
285‌
3‌
Palladium;
September
2026
(a)
Long
5‌
691‌
(52‌)
PJM
Western
Hub
Real-Time
Peak
Mini;
April
2027
(a)
Long
9‌
195‌
(30‌)
PJM
Western
Hub
Real-Time
Peak
Mini;
August
2027
(a)
Long
9‌
258‌
34‌
PJM
Western
Hub
Real-Time
Peak
Mini;
December
2027
(a)
Long
9‌
254‌
19‌
PJM
Western
Hub
Real-Time
Peak
Mini;
February
2027
(a)
Long
9‌
246‌
42‌
PJM
Western
Hub
Real-Time
Peak
Mini;
January
2027
(a)
Long
9‌
297‌
93‌
PJM
Western
Hub
Real-Time
Peak
Mini;
July
2027
(a)
Long
9‌
296‌
82‌
PJM
Western
Hub
Real-Time
Peak
Mini;
June
2027
(a)
Long
9‌
213‌
(12‌)
PJM
Western
Hub
Real-Time
Peak
Mini;
March
2027
(a)
Long
9‌
205‌
(30‌)
PJM
Western
Hub
Real-Time
Peak
Mini;
May
2027
(a)
Long
9‌
177‌
(27‌)
PJM
Western
Hub
Real-Time
Peak
Mini;
November
2027
(a)
Long
9‌
202‌
(12‌)
PJM
Western
Hub
Real-Time
Peak
Mini;
October
2027
(a)
Long
9‌
202‌
(12‌)
PJM
Western
Hub
Real-Time
Peak
Mini;
September
2027
(a)
Long
9‌
210‌
(4‌)
Platinum;
July
2026
(a)
Short
1‌
96‌
2‌
Platinum;
October
2026
(a)
Long
3‌
293‌
(32‌)
Robusta
Coffee
10tn;
November
2026
(a)
Long
7‌
229‌
2‌
Silver;
December
2026
(a)
Long
4‌
1,545‌
15‌
Silver;
July
2026
(a)
Long
2‌
759‌
(39‌)
Silver;
September
2026
(a)
Short
1‌
382‌
22‌
Silver;
September
2026
(a)
Long
5‌
1,911‌
(1‌)
Soybean
Future;
July
2026
(a)
Long
174‌
10,325‌
473‌
Soybean
Future;
November
2026
(a)
Short
23‌
1,368‌
(3‌)
Soybean
Meal;
December
2026
(a)
Long
20‌
641‌
8‌
Soybean
Meal;
July
2026
(a)
Short
11‌
363‌
(5‌)
Soybean
Oil;
December
2026
(a)
Long
24‌
1,043‌
51‌
Soybean
Oil;
July
2026
(a)
Short
7‌
326‌
(45‌)
Sugar
#11;
July
2026
(a)
Short
21‌
331‌
21‌
Sugar
#11;
October
2026
(a)
Long
380‌
6,189‌
(167‌)
Wheat;
December
2026
(a)
Long
20‌
643‌
(25‌)
Wheat;
July
2026
(a)
Short
185‌
5,647‌
(148‌)
Wheat;
September
2026
(a)
Short
3‌
94‌
9‌
White
Sugar;
October
2026
(a)
Long
9‌
195‌
12‌
WTI
Crude;
August
2026
(a)
Long
80‌
6,824‌
1,482‌
WTI
Crude;
July
2026
(a)
Long
161‌
14,065‌
(1,156‌)
WTI
Crude;
November
2026
(a)
Long
7‌
558‌
(25‌)
WTI
Crude;
October
2026
(a)
Long
8‌
650‌
(16‌)
Total
$
(3,544‌)
Amounts
in
thousands
except
contracts.
(a)
All
or
a
portion
of
this
security
is
owned
by
the
DRA
Cayman
Corporation,
which
is
a
wholly-owned
subsidiary
of
the
Fund.
Consolidated
Schedule
of
Investments
Diversified
Real
Asset
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
57
Total
Return
Swaps
Counterparty
Fund
Pays
Fund
Receives
Payment
Frequency
Maturity
Date
Notional
Amount
Upfront
Premiums
Paid/
(Received)
Value
and
Unrealized
Appreciation/
(Depreciation)
Asset
 Liability
Bank
of
America
NA
(a)
3
Month
US
Treasury
Bill
High
Rate
+
0.11%
Bloomberg
Commodity
Index
3
Month
Forward
Total
Return
Monthly
11/02/2026
$
1‌
$
—‌
$
—‌
$
(14‌)
Bank
of
America
NA
(a)
3
Month
US
Treasury
Bill
High
Rate
+
0.25%
CRB
Total
Return
Index
Monthly
05/01/2027
7‌
—‌
—‌
(89‌)
Citigroup
Inc
(a)
3
Month
US
Treasury
Bill
High
Rate
+
0.11%
Bloomberg
Commodity
Index
3
Month
Forward
Total
Return
Monthly
11/02/2026
27‌
—‌
—‌
(377‌)
Citigroup
Inc
(a)
3
Month
US
Treasury
Bill
High
Rate
+
0.24%
CRB
Total
Return
Index
Monthly
05/01/2027
5‌
—‌
—‌
(55‌)
Goldman
Sachs
&
Co
(a)
3
Month
US
Treasury
Bill
High
Rate
+
0.12%
Bloomberg
Commodity
Index
3
Month
Forward
Total
Return
Monthly
11/02/2026
37‌
—‌
—‌
(511‌)
Goldman
Sachs
&
Co
(a)
Bloomberg
Commodity
Index
3
Month
Forward
Total
Return
+
0.25%
Bloomberg
Commodity
Index
3
Month
Forward
Total
Return
Monthly
10/01/2026
10‌
—‌
—‌
(33‌)
Goldman
Sachs
&
Co
(a)
Bloomberg
Commodity
Index
3
Month
Forward
Total
Return
+
0.25%
Bloomberg
Commodity
Index
3
Month
Forward
Total
Return
Monthly
10/01/2026
17‌
—‌
—‌
(13‌)
Total
$
—‌
$
—‌
$
(1,092‌)
Amounts
in
thousands.
(a)
All
or
a
portion
of
this
security
is
owned
by
the
DRA
Cayman
Corporation,
which
is
a
wholly-owned
subsidiary
of
the
Fund.
Schedule
of
Investments
Global
Listed
Infrastructure
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
58
INVESTMENT
COMPANIES
-
1
.58
%
Shares
Held
Value
(000's)
Money
Market
Funds
-
1
.58
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
810,120‌
$
810‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(c)
944,888‌
945‌
$
1,755‌
TOTAL
INVESTMENT
COMPANIES
$
1,755‌
COMMON
STOCKS
-
99
.08
%
Shares
Held
Value
(000's)
Commercial
Services
-
8
.09
%
Atlas
Arteria
Ltd
1,121,518‌
$
3,971‌
JSW
Infrastructure
Ltd
408,638‌
1,184‌
Motiva
Infraestrutura
de
Mobilidade
SA
816,122‌
2,299‌
Transurban
Group
144,816‌
1,557‌
$
9,011‌
Electric
-
39
.05
%
Algonquin
Power
&
Utilities
Corp
519,600‌
3,075‌
CenterPoint
Energy
Inc
81,656‌
3,451‌
CMS
Energy
Corp
37,755‌
2,740‌
Consolidated
Edison
Inc
28,988‌
3,062‌
EDP
Renewables
SA
79,330‌
1,312‌
Elia
Group
SA/NV
19,189‌
2,983‌
Entergy
Corp
43,791‌
4,775‌
Fervo
Energy
Co
(d),(e)
26,894‌
986‌
National
Grid
PLC
158,252‌
2,540‌
NextEra
Energy
Inc
89,337‌
7,773‌
PG&E
Corp
181,675‌
2,969‌
Sempra
48,705‌
4,341‌
Xcel
Energy
Inc
43,566‌
3,463‌
$
43,470‌
Engineering
&
Construction
-
8
.66
%
Aeroports
de
Paris
SA
17,230‌
2,309‌
Beijing
Capital
International
Airport
Co
Ltd
(d)
3,234,000‌
706‌
Cellnex
Telecom
SA
(d),(f)
64,423‌
2,156‌
China
Tower
Corp
Ltd
(f)
1,104,500‌
1,397‌
Enav
SpA
(f)
302,981‌
1,906‌
Sarana
Menara
Nusantara
Tbk
PT
55,100,500‌
1,171‌
$
9,645‌
Environmental
Control
-
1
.58
%
Cleanaway
Waste
Management
Ltd
1,066,113‌
1,756‌
Gas
-
2
.09
%
ENN
Energy
Holdings
Ltd
332,500‌
2,331‌
Oil
&
Gas
Services
-
1
.20
%
Solaris
Energy
Infrastructure
Inc
19,213‌
1,336‌
Pipelines
-
13
.62
%
APA
Group
197,489‌
1,429‌
DT
Midstream
Inc
15,942‌
2,232‌
Gibson
Energy
Inc
140,400‌
2,897‌
Kinetik
Holdings
Inc
41,288‌
1,897‌
Venture
Global
Inc
89,738‌
1,080‌
Williams
Cos
Inc/The
78,788‌
5,625‌
$
15,160‌
REITs
-
8
.90
%
American
Tower
Corp
21,312‌
3,984‌
Crown
Castle
Inc
40,822‌
3,735‌
Equinix
Inc
2,051‌
2,191‌
$
9,910‌
Transportation
-
10
.56
%
CSX
Corp
110,453‌
4,999‌
East
Japan
Railway
Co
66,300‌
1,412‌
Rumo
SA
719,658‌
1,959‌
Union
Pacific
Corp
12,913‌
3,392‌
$
11,762‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Water
-
5
.33
%
Cia
de
Saneamento
Basico
do
Estado
de
Sao
Paulo
SABESP
272,050‌
$
1,510‌
Guangdong
Investment
Ltd
2,310,524‌
2,462‌
Severn
Trent
PLC
49,229‌
1,963‌
$
5,935‌
TOTAL
COMMON
STOCKS
$
110,316‌
Total
Investments
$
112,071‌
Other
Assets
and
Liabilities
-  (0.66)%
(
737‌
)
TOTAL
NET
ASSETS
-
100.00%
$
111,334‌
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$810
or
0.73%
of
net
assets.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(d)
Non-income
producing
security
(e)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$742
or
0.67%
of
net
assets.
(f)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$5,459
or
4.90%
of
net
assets.
Schedule
of
Investments
Global
Listed
Infrastructure
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
59
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
2,721‌
$
71,434‌
$
73,210‌
$
945‌
$
2,721‌
$
71,434‌
$
73,210‌
$
945‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
63‌
$
—‌
$
—‌
$
—‌
$
63‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Consolidated
Schedule
of
Investments
Global
Macro
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
60
INVESTMENT
COMPANIES
-
85
.79
%
Shares
Held
Value
(000's)
Money
Market
Funds
-
85
.79
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
34,297,424‌
$
34,297‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(c)
112,142,398‌
112,143‌
$
146,440‌
TOTAL
INVESTMENT
COMPANIES
$
146,440‌
Total
Investments
$
146,440‌
Other
Assets
and
Liabilities
-  14.21%
24,265‌
TOTAL
NET
ASSETS
-
100.00%
$
170,705‌
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
All
or
a
portion
of
this
security
is
owned
by
the
GM
Cayman
Corporation,
which
is
a
wholly-owned
subsidiary
of
the
Fund.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
Affiliated
Securities
November
14,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
—‌
$
169,706‌
$
57,563‌
$
112,143‌
$
—‌
$
169,706‌
$
57,563‌
$
112,143‌
Income
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
2,117‌
$
—‌
$
—‌
$
—‌
$
2,117‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
Futures
Contracts
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
AEX
Index;
June
2026
Short
40‌
$
9,666‌
$
(
245‌
)
AEX
Index;
June
2026
Long
2‌
483‌
7‌
Australia
10
Year
Bond;
June
2026
Short
444‌
34,793‌
(
237‌
)
Bovespa;
June
2026
Short
285‌
9,897‌
749‌
Bovespa;
June
2026
Long
10‌
347‌
(
27‌
)
Brent
Crude;
September
2026
(a)
Long
2‌
178‌
(
21‌
)
CAC40
Index;
June
2026
Short
44‌
4,198‌
(
128‌
)
CAC40
Index;
June
2026
Long
2‌
191‌
3‌
Canada
10
Year
Bond;
September
2026
Long
370‌
32,268‌
298‌
Cocoa;
July
2026
(a)
Short
54‌
2,118‌
(
268‌
)
Coffee
'C';
July
2026
(a)
Long
9‌
896‌
(
61‌
)
Coffee
'C';
July
2026
(a)
Short
3‌
299‌
23‌
Copper;
July
2026
(a)
Short
11‌
1,757‌
(
60‌
)
Copper;
July
2026
(a)
Long
7‌
1,118‌
13‌
Corn;
July
2026
(a)
Long
15‌
335‌
(
12‌
)
Corn;
July
2026
(a)
Short
30‌
670‌
9‌
Cotton
No.2;
July
2026
(a)
Short
40‌
1,523‌
(
32‌
)
Cotton
No.2;
July
2026
(a)
Long
16‌
609‌
(
25‌
)
DAX
Index;
June
2026
Long
3‌
2,202‌
57‌
Euro
Bond
10
Year
Bond;
June
2026
Short
360‌
53,114‌
(
390‌
)
Euro-BTP;
June
2026
Long
107‌
14,853‌
(
126‌
)
Euro-BTP;
June
2026
Short
27‌
3,748‌
(
51‌
)
Euro-Oat;
June
2026
Short
31‌
4,369‌
(
48‌
)
FTSE
Taiwan
Index;
June
2026
Long
3‌
473‌
30‌
FTSE/JSE
Top
40;
June
2026
Long
255‌
16,859‌
(
11‌
)
FTSE/MIB
Index;
June
2026
Short
43‌
12,564‌
(
1,010‌
)
FTSE/MIB
Index;
June
2026
Long
1‌
292‌
18‌
FTSE100
Index;
June
2026
Short
9‌
1,266‌
(
13‌
)
FTSE100
Index;
June
2026
Long
4‌
563‌
(
4‌
)
Gasoline
RBOB;
July
2026
(a)
Long
17‌
2,167‌
(
104‌
)
Hang
Seng
Index;
June
2026
Short
80‌
12,755‌
228‌
Hang
Seng
Index;
June
2026
Long
2‌
319‌
(
4‌
)
IFSC
Nifty
50;
June
2026
Long
159‌
7,544‌
(
19‌
)
IFSC
Nifty
50;
June
2026
Short
18‌
854‌
3‌
Japan
10
Year
Bond
TSE;
June
2026
Long
26‌
21,041‌
(
181‌
)
Japan
10
Year
Bond
TSE;
June
2026
Short
9‌
7,283‌
48‌
Japan
Topix
Index;
June
2026
Long
40‌
9,951‌
749‌
KC
HRW
Wheat;
July
2026
(a)
Long
14‌
455‌
(
24‌
)
KOSPI
200
Index;
June
2026
Long
37‌
8,286‌
3,332‌
Lean
Hogs;
July
2026
(a)
Short
25‌
995‌
8‌
Live
Cattle;
August
2026
(a)
Short
7‌
669‌
1‌
Live
Cattle;
August
2026
(a)
Long
8‌
765‌
(
3‌
)
LME
Lead;
July
2026
(a)
Short
30‌
1,508‌
(
39‌
)
LME
Lead;
July
2026
(a)
Long
7‌
352‌
(
10‌
)
LME
Nickel;
July
2026
(a)
Short
9‌
1,025‌
48‌
LME
Nickel;
July
2026
(a)
Long
11‌
1,253‌
1‌
Consolidated
Schedule
of
Investments
Global
Macro
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
61
Futures
Contracts
(continued)
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
LME
Primary
Alum;
July
2026
(a)
Long
12‌
$
1,110‌
$
55‌
LME
Primary
Alum;
July
2026
(a)
Long
14‌
1,295‌
44‌
LME
Zinc;
July
2026
(a)
Short
6‌
531‌
(
35‌
)
LME
Zinc;
July
2026
(a)
Long
16‌
1,415‌
35‌
Low
Sulphur
Gasoline;
July
2026
(a)
Long
23‌
2,303‌
(
194‌
)
Mex
Bolsa
Index;
June
2026
Short
173‌
6,875‌
(
165‌
)
Mex
Bolsa
Index;
June
2026
Long
9‌
358‌
7‌
MSCI
Singapore
Index;
June
2026
Long
208‌
7,510‌
(
10‌
)
Natural
Gas;
July
2026
(a)
Long
43‌
1,415‌
72‌
NY
Harbor
ULSD;
July
2026
(a)
Long
18‌
2,637‌
(
8‌
)
OMXS30
Index;
June
2026
Long
131‌
4,460‌
107‌
Platinum;
July
2026
(a)
Long
6‌
579‌
(
42‌
)
S&P
500
Emini;
June
2026
Long
59‌
22,408‌
1,621‌
S&P/TSX
60
Index;
June
2026
Long
43‌
12,619‌
506‌
Silver;
July
2026
(a)
Long
3‌
1,138‌
(
64‌
)
Soybean
Future;
July
2026
(a)
Short
3‌
178‌
2‌
Soybean
Future;
July
2026
(a)
Long
6‌
356‌
2‌
Soybean
Meal;
July
2026
(a)
Long
19‌
627‌
(
5‌
)
Soybean
Oil;
July
2026
(a)
Short
20‌
933‌
(
136‌
)
Soybean
Oil;
July
2026
(a)
Long
12‌
560‌
63‌
SPI
200
Index;
June
2026
Short
99‌
15,566‌
(
72‌
)
Sugar
#11;
July
2026
(a)
Long
11‌
173‌
(
7‌
)
Sugar
#11;
July
2026
(a)
Short
15‌
236‌
(
2‌
)
Swiss
Market
Index;
June
2026
Short
41‌
7,125‌
(
183‌
)
Swiss
Market
Index;
June
2026
Long
1‌
174‌
7‌
UK
10
Year
Gilt;
September
2026
Long
186‌
22,228‌
275‌
UK
10
Year
Gilt;
September
2026
Short
27‌
3,227‌
(
31‌
)
US
10
Year
Treasury
Note;
September
2026
Short
326‌
35,804‌
(
238‌
)
Wheat;
July
2026
(a)
Short
39‌
1,190‌
(
3‌
)
Wheat;
July
2026
(a)
Long
15‌
458‌
(
22‌
)
WIG20
Index;
June
2026
Short
132‌
2,646‌
(
31‌
)
WIG20
Index;
June
2026
Long
32‌
641‌
22‌
WTI
Crude;
July
2026
(a)
Long
29‌
2,534‌
(
119‌
)
Total
$
3,923‌
Amounts
in
thousands
except
contracts.
(a)
All
or
a
portion
of
this
security
is
owned
by
the
GM
Cayman
Corporation,
which
is
a
wholly-owned
subsidiary
of
the
Fund.
Foreign
Currency
Contracts
Unrealized
Appreciation/(Depreciation)
Counterparty
Settlement
Date
Currency
to
Accept
Currency
to
Deliver
Asset
Liability
ANZ
Stockbroking
06/17/2026
AUD
3,189‌
$
2,225‌
$
67‌
$
—‌
ANZ
Stockbroking
06/17/2026
CAD
7,705‌
$
5,661‌
—‌
(
68‌
)
ANZ
Stockbroking
06/17/2026
NZD
4,557‌
$
2,717‌
12‌
—‌
ANZ
Stockbroking
06/17/2026
$
527‌
KRW
795,577‌
—‌
(
1‌
)
ANZ
Stockbroking
06/17/2026
$
815‌
INR
77,762‌
—‌
(
2‌
)
ANZ
Stockbroking
06/17/2026
$
1,150‌
IDR
20,596,281‌
—‌
(
3‌
)
ANZ
Stockbroking
06/17/2026
$
1,546‌
CAD
2,125‌
3‌
—‌
ANZ
Stockbroking
06/17/2026
$
665‌
AUD
957‌
—‌
(
22‌
)
ANZ
Stockbroking
06/17/2026
$
1,070‌
EUR
925‌
—‌
(
10‌
)
ANZ
Stockbroking
06/17/2026
$
5,650‌
GBP
4,238‌
—‌
(
57‌
)
ANZ
Stockbroking
06/17/2026
$
22,626‌
CHF
17,492‌
176‌
—‌
ANZ
Stockbroking
06/17/2026
$
3,764‌
NZD
6,354‌
—‌
(
43‌
)
RBC
Dominon
Securities
Corp
06/17/2026
AUD
875‌
$
621‌
8‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
BRL
79,657‌
$
15,896‌
—‌
(
163‌
)
RBC
Dominon
Securities
Corp
06/17/2026
CAD
21,131‌
$
15,493‌
—‌
(
155‌
)
RBC
Dominon
Securities
Corp
06/17/2026
EUR
1,565‌
$
1,820‌
6‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
INR
1,211,124‌
$
12,827‌
—‌
(
100‌
)
RBC
Dominon
Securities
Corp
06/17/2026
IDR
386,776,866‌
$
22,141‌
—‌
(
491‌
)
RBC
Dominon
Securities
Corp
06/17/2026
MXN
5,612‌
$
324‌
—‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
TWD
409,802‌
$
12,908‌
136‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
NZD
21,270‌
$
12,541‌
200‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
NOK
71,419‌
$
7,671‌
67‌
(
14‌
)
RBC
Dominon
Securities
Corp
06/17/2026
PLN
4,026‌
$
1,081‌
29‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
ZAR
956‌
$
57‌
2‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
KRW
38,997,670‌
$
25,919‌
—‌
(
38‌
)
RBC
Dominon
Securities
Corp
06/17/2026
SEK
16,725‌
$
1,819‌
2‌
(
7‌
)
RBC
Dominon
Securities
Corp
06/17/2026
CHF
12,493‌
$
16,138‌
—‌
(
104‌
)
Consolidated
Schedule
of
Investments
Global
Macro
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
62
Foreign
Currency
Contracts
(continued)
Unrealized
Appreciation/(Depreciation)
Counterparty
Settlement
Date
Currency
to
Accept
Currency
to
Deliver
Asset
Liability
RBC
Dominon
Securities
Corp
06/17/2026
$
24,918‌
AUD
34,970‌
$
92‌
$
(
299‌
)
RBC
Dominon
Securities
Corp
06/17/2026
$
7,831‌
SEK
72,462‌
—‌
(
24‌
)
RBC
Dominon
Securities
Corp
06/17/2026
$
14,738‌
TWD
467,952‌
—‌
(
157‌
)
RBC
Dominon
Securities
Corp
06/17/2026
$
12,875‌
NZD
21,696‌
—‌
(
121‌
)
RBC
Dominon
Securities
Corp
06/17/2026
$
15,093‌
MXN
263,742‌
—‌
(
103‌
)
RBC
Dominon
Securities
Corp
06/17/2026
$
5,167‌
JPY
817,049‌
31‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
$
11,425‌
EUR
9,693‌
111‌
—‌
RBC
Dominon
Securities
Corp
06/17/2026
$
3,904‌
ZAR
67,234‌
—‌
(
238‌
)
RBC
Dominon
Securities
Corp
06/17/2026
$
521‌
CHF
408‌
—‌
(
3‌
)
RBC
Dominon
Securities
Corp
06/17/2026
$
3,844‌
KRW
5,717,462‌
50‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
AUD
4,338‌
$
3,103‌
15‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
BRL
61,095‌
$
11,406‌
662‌
(
1‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
GBP
16,193‌
$
21,851‌
22‌
(
69‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
CAD
6,514‌
$
4,725‌
4‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
EUR
15,536‌
$
18,090‌
56‌
(
14‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
INR
158,115‌
$
1,669‌
—‌
(
7‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
IDR
42,345,299‌
$
2,495‌
—‌
(
124‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
JPY
6,257,789‌
$
39,594‌
—‌
(
252‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
MXN
452,445‌
$
25,564‌
504‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
TWD
352,494‌
$
11,005‌
215‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
NZD
7,546‌
$
4,378‌
142‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
NOK
218,503‌
$
22,608‌
1,022‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
PLN
9,785‌
$
2,651‌
47‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
ZAR
359,088‌
$
21,721‌
403‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
KRW
23,996,045‌
$
16,221‌
—‌
(
295‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
CHF
1,841‌
$
2,354‌
12‌
(
4‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
4,546‌
GBP
3,407‌
—‌
(
41‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
1,141‌
BRL
6,074‌
—‌
(
58‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
1,506‌
NZD
2,576‌
—‌
(
37‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
556‌
CAD
759‌
5‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
20,664‌
INR
1,952,966‌
187‌
(
46‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
270‌
AUD
382‌
—‌
(
4‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
5,899‌
ZAR
98,125‌
—‌
(
147‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
20,281‌
MXN
367,423‌
—‌
(
888‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
19,191‌
JPY
3,007,602‌
283‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
8,567‌
TWD
271,241‌
—‌
(
67‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
2,630‌
NOK
25,490‌
—‌
(
127‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
31,448‌
IDR
539,253,364‌
1,263‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
14,280‌
CHF
11,130‌
—‌
(
5‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
26,232‌
PLN
96,931‌
—‌
(
499‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
21,171‌
KRW
31,263,324‌
423‌
—‌
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
319‌
SEK
2,960‌
—‌
(
2‌
)
Standard
Chartered
Bank,
Hong
Kong
06/17/2026
$
33,421‌
EUR
28,802‌
—‌
(
195‌
)
State
Street
Financial
Global
Markets
06/17/2026
AUD
23,587‌
$
16,877‌
69‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
BRL
8,524‌
$
1,683‌
2‌
(
1‌
)
State
Street
Financial
Global
Markets
06/17/2026
CAD
172‌
$
124‌
—‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
EUR
268‌
$
312‌
1‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
MXN
15,018‌
$
866‌
—‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
NOK
34,798‌
$
3,722‌
41‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
PLN
1,743‌
$
484‌
—‌
(
3‌
)
State
Street
Financial
Global
Markets
06/17/2026
ZAR
8,399‌
$
513‌
4‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
SEK
2,233‌
$
240‌
2‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
CHF
211‌
$
269‌
1‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
$
78‌
KRW
116,526‌
—‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
$
5,299‌
CAD
7,307‌
3‌
(
8‌
)
State
Street
Financial
Global
Markets
06/17/2026
$
1,050‌
TWD
33,043‌
—‌
(
2‌
)
State
Street
Financial
Global
Markets
06/17/2026
$
70‌
JPY
11,111‌
—‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
$
2,302‌
CHF
1,801‌
—‌
(
10‌
)
State
Street
Financial
Global
Markets
06/17/2026
$
12,299‌
SEK
112,040‌
153‌
—‌
State
Street
Financial
Global
Markets
06/17/2026
$
2,929‌
PLN
10,663‌
—‌
(
11‌
)
State
Street
Financial
Global
Markets
06/17/2026
$
8,001‌
INR
773,366‌
—‌
(
126‌
)
State
Street
Financial
Global
Markets
06/17/2026
$
8,582‌
MXN
148,869‌
6‌
(
1‌
)
State
Street
Financial
Global
Markets
06/17/2026
$
13,655‌
GBP
10,099‌
58‌
(
2‌
)
State
Street
Financial
Global
Markets
06/17/2026
$
1,778‌
EUR
1,526‌
—‌
(
3‌
)
Total
$
6,597‌
$
(
5,272‌
)
Amounts
in
thousands.
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
63
INVESTMENT
COMPANIES
-
23.53%
Shares
Held
Value
(000's)
Closed-End
Funds
-
0.30%
BlackRock
MuniHoldings
Fund
Inc
78,154‌
$
911‌
BlackRock
MuniYield
Quality
Fund
III
Inc
13,263‌
146‌
BlackRock
MuniYield
Quality
Fund
Inc
41,258‌
473‌
Eaton
Vance
Floating-Rate
Income
Trust
6,106‌
66‌
Franklin
Universal
Trust
11,812‌
95‌
$
1,691‌
Exchange-Traded
Funds
-
2.58%
iShares
Broad
USD
High
Yield
Corporate
Bond
ETF
54,675‌
2,032‌
iShares
Floating
Rate
Bond
ETF
85,146‌
4,346‌
iShares
MSCI
EAFE
Value
ETF
11,050‌
869‌
PGIM
AAA
CLO
ETF
84,376‌
4,330‌
Vanguard
Value
ETF
13,685‌
2,899‌
$
14,476‌
Money
Market
Funds
-
20.65%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
4,300,621‌
4,301‌
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
-
Institutional
Class
3.55%
(a),(b)
2,441,875‌
2,442‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(b),(c)
109,309,535‌
109,309‌
$
116,052‌
TOTAL
INVESTMENT
COMPANIES
$
132,219‌
COMMON
STOCKS
-
37.44%
Shares
Held
Value
(000's)
Advertising
-
0.00%
Omnicom
Group
Inc
135‌
$
10‌
Trade
Desk
Inc/The
(d)
188‌
4‌
$
14‌
Aerospace
&
Defense
-
0.95%
Airbus
SE
603‌
126‌
Boeing
Co/The
(d)
336‌
78‌
General
Dynamics
Corp
(e)
1,681‌
583‌
General
Electric
Co
508‌
164‌
Howmet
Aerospace
Inc
(e)
3,659‌
946‌
L3Harris
Technologies
Inc
(f)
4,009‌
1,263‌
Leonardo
SpA
(e)
5,078‌
323‌
Lockheed
Martin
Corp
(e)
828‌
439‌
MTU
Aero
Engines
AG
(e)
260‌
95‌
Northrop
Grumman
Corp
57‌
32‌
Rolls-Royce
Holdings
PLC
(e)
18,001‌
324‌
RTX
Corp
(e)
2,068‌
371‌
Safran
SA
(e)
1,525‌
542‌
TransDigm
Group
Inc
24‌
30‌
$
5,316‌
Agriculture
-
0.35%
Altria
Group
Inc
718‌
50‌
Archer-Daniels-Midland
Co
2,698‌
216‌
British
American
Tobacco
PLC
699‌
43‌
Bunge
Global
SA
58‌
7‌
Japan
Tobacco
Inc
(e)
24,800‌
955‌
Philip
Morris
International
Inc
666‌
118‌
Wilmar
International
Ltd
(e)
202,400‌
570‌
$
1,959‌
Airlines
-
0.13%
ANA
Holdings
Inc
(e)
11,800‌
221‌
Delta
Air
Lines
Inc
278‌
23‌
Japan
Airlines
Co
Ltd
(e)
21,700‌
371‌
Southwest
Airlines
Co
210‌
9‌
United
Airlines
Holdings
Inc
(d),(e)
963‌
111‌
$
735‌
Apparel
-
0.26%
Asics
Corp
(e)
24,200‌
735‌
Deckers
Outdoor
Corp
(d),(e)
3,865‌
440‌
NIKE
Inc
510‌
24‌
Ralph
Lauren
Corp
17‌
6‌
Tapestry
Inc
(e)
1,938‌
282‌
$
1,487‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Automobile
Manufacturers
-
0.38%
Cummins
Inc
59‌
$
38‌
Ford
Motor
Co
1,677‌
29‌
General
Motors
Co
(e)
3,495‌
291‌
Mercedes-Benz
Group
AG
(e)
832‌
50‌
PACCAR
Inc
225‌
25‌
Renault
SA
(e)
4,268‌
146‌
Tesla
Inc
(d),(e)
1,315‌
573‌
Volvo
AB
-
B
Shares
(e)
28,625‌
1,008‌
$
2,160‌
Automobile
Parts
&
Equipment
-
0.40%
Aisin
Corp
(e)
5,300‌
80‌
Aptiv
PLC
(d)
27,091‌
1,840‌
Magna
International
Inc
(e)
4,900‌
318‌
$
2,238‌
Banks
-
1.75%
Banca
Mediolanum
SpA
(e)
11,800‌
272‌
Banco
Bilbao
Vizcaya
Argentaria
SA
(e)
8,450‌
197‌
Bank
of
America
Corp
(e)
16,131‌
833‌
Bank
of
New
York
Mellon
Corp/The
294‌
41‌
Bank
of
Nova
Scotia/The
(e)
5,000‌
401‌
Citigroup
Inc
(e)
6,154‌
775‌
Citizens
Financial
Group
Inc
(e)
3,861‌
240‌
Danske
Bank
A/S
(e)
1,892‌
100‌
DBS
Group
Holdings
Ltd
(e)
1,140‌
56‌
Fifth
Third
Bancorp
(e)
2,030‌
101‌
FinecoBank
Banca
Fineco
SpA
(e)
6,339‌
155‌
Goldman
Sachs
Group
Inc/The
128‌
131‌
HSBC
Holdings
PLC
(e)
19,190‌
360‌
Huntington
Bancshares
Inc/OH
869‌
14‌
Japan
Post
Bank
Co
Ltd
(e)
38,600‌
744‌
JPMorgan
Chase
&
Co
1,154‌
345‌
KeyCorp
(e)
18,986‌
405‌
Lloyds
Banking
Group
PLC
(e)
112,061‌
153‌
M&T
Bank
Corp
65‌
14‌
Morgan
Stanley
706‌
147‌
NatWest
Group
PLC
(e)
82,779‌
666‌
Northern
Trust
Corp
(e)
1,978‌
327‌
Oversea-Chinese
Banking
Corp
Ltd
(e)
34,900‌
641‌
PNC
Financial
Services
Group
Inc/The
(e)
624‌
137‌
Regions
Financial
Corp
(e)
5,865‌
164‌
Standard
Chartered
PLC
(e)
2,717‌
73‌
State
Street
Corp
119‌
19‌
Toronto-Dominion
Bank/The
(e)
1,100‌
126‌
Truist
Financial
Corp
(e)
5,204‌
251‌
UniCredit
SpA
(e)
7,005‌
605‌
United
Overseas
Bank
Ltd
5,000‌
147‌
US
Bancorp
(e)
4,958‌
273‌
Webster
Financial
Corp
4,074‌
296‌
Wells
Fargo
&
Co
(e)
6,629‌
514‌
Yokohama
Financial
Group
Inc
(e)
10,900‌
111‌
$
9,834‌
Beverages
-
0.25%
Anheuser-Busch
InBev
SA/NV
3,365‌
270‌
Brown-Forman
Corp
-
B
Shares
72‌
2‌
Coca-Cola
Co/The
1,657‌
131‌
Constellation
Brands
Inc
60‌
8‌
Keurig
Dr
Pepper
Inc
12,881‌
387‌
Molson
Coors
Beverage
Co
72‌
3‌
Monster
Beverage
Corp
(d),(e)
5,759‌
507‌
PepsiCo
Inc
585‌
84‌
$
1,392‌
Biotechnology
-
0.71%
Akouos
Inc
-
Contingent
Value
Rights
(d),(g)
4,410‌
2‌
Alnylam
Pharmaceuticals
Inc
(d),(e)
2,184‌
660‌
Amgen
Inc
(e)
1,482‌
499‌
Apellis
Pharmaceuticals
Inc
-
CVR
(d),(g)
14,046‌
—‌
Argenx
SE
(d),(e)
174‌
145‌
Biogen
Inc
(d)
63‌
12‌
BioMarin
Pharmaceutical
Inc
(d)
2,730‌
156‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
64
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Biotechnology
(continued)
Corteva
Inc
563‌
$
45‌
Genmab
A/S
(d)
480‌
126‌
Gilead
Sciences
Inc
701‌
94‌
Incyte
Corp
(d),(e)
3,471‌
336‌
Inhibrx
Inc
-
Contingent
Value
Rights
(d),(g)
4,407‌
3‌
Moderna
Inc
(d)
149‌
7‌
Regeneron
Pharmaceuticals
Inc
(e)
1,341‌
824‌
Royalty
Pharma
PLC
(e)
8,277‌
462‌
Swedish
Orphan
Biovitrum
AB
(d),(e)
11,679‌
559‌
Tevogen
Bio
Holdings
Inc
-
Warrants
(d)
597‌
—‌
Vertex
Pharmaceuticals
Inc
(d)
109‌
49‌
$
3,979‌
Building
Materials
-
0.20%
Builders
FirstSource
Inc
(d)
47‌
4‌
Carrier
Global
Corp
336‌
22‌
CRH
PLC
287‌
31‌
Holcim
AG
(d),(e)
944‌
93‌
Johnson
Controls
International
plc
(e)
1,739‌
233‌
Lennox
International
Inc
14‌
7‌
Martin
Marietta
Materials
Inc
26‌
15‌
Masco
Corp
87‌
6‌
Mitsubishi
Electric
Corp
(e)
5,900‌
240‌
Trane
Technologies
PLC
(e)
971‌
438‌
Vulcan
Materials
Co
57‌
16‌
$
1,105‌
Chemicals
-
0.27%
Air
Products
and
Chemicals
Inc
95‌
26‌
Albemarle
Corp
50‌
9‌
Asahi
Kasei
Corp
(e)
13,700‌
154‌
CF
Industries
Holdings
Inc
67‌
8‌
Dow
Inc
307‌
10‌
DuPont
de
Nemours
Inc
(e)
2,462‌
119‌
Ecolab
Inc
109‌
28‌
International
Flavors
&
Fragrances
Inc
110‌
8‌
Linde
PLC
200‌
100‌
LyondellBasell
Industries
NV
110‌
7‌
Mosaic
Co/The
136‌
3‌
Nippon
Paint
Holdings
Co
Ltd
8,100‌
54‌
PPG
Industries
Inc
96‌
11‌
Qnity
Electronics
Inc
(e)
2,193‌
342‌
RPM
International
Inc
(e)
5,554‌
589‌
Sherwin-Williams
Co/The
99‌
30‌
$
1,498‌
Commercial
Services
-
0.98%
Affirm
Holdings
Inc
(d)
2,488‌
183‌
Altaba
Inc
-
Escrow
(d)
837,142‌
1,061‌
Automatic
Data
Processing
Inc
172‌
38‌
Block
Inc
(d),(e)
2,604‌
197‌
Brambles
Ltd
25,441‌
303‌
Cintas
Corp
(e)
2,350‌
403‌
Corpay
Inc
(d)
30‌
11‌
Equifax
Inc
52‌
9‌
Global
Payments
Inc
102‌
8‌
Moody's
Corp
587‌
266‌
PayPal
Holdings
Inc
394‌
18‌
Quanta
Services
Inc
64‌
46‌
Randstad
NV
4,356‌
133‌
Recruit
Holdings
Co
Ltd
(e)
30,400‌
2,033‌
RELX
PLC
9,901‌
323‌
Rollins
Inc
126‌
6‌
S&P
Global
Inc
131‌
55‌
United
Rentals
Inc
27‌
27‌
Verisk
Analytics
Inc
60‌
10‌
Verisure
PLC
(d)
8,342‌
111‌
Wolters
Kluwer
NV
(e)
3,791‌
269‌
$
5,510‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Computers
-
1.06%
Accenture
PLC
-
Class
A
(e)
1,616‌
$
302‌
Apple
Inc
(e)
13,307‌
4,153‌
Cognizant
Technology
Solutions
Corp
(e)
3,927‌
219‌
Crowdstrike
Holdings
Inc
(d)
108‌
79‌
Dell
Technologies
Inc
127‌
53‌
EPAM
Systems
Inc
(d)
23‌
2‌
Fortinet
Inc
(d)
270‌
37‌
Gartner
Inc
(d)
30‌
5‌
Hewlett
Packard
Enterprise
Co
569‌
24‌
HP
Inc
393‌
11‌
Indra
Sistemas
SA
1,038‌
69‌
International
Business
Machines
Corp
400‌
119‌
Leidos
Holdings
Inc
55‌
7‌
Logitech
International
SA
(e)
1,470‌
179‌
Lumentum
Holdings
Inc
(d)
31‌
26‌
NEC
Corp
(e)
3,700‌
96‌
NetApp
Inc
85‌
15‌
Sandisk
Corp/DE
(d)
63‌
107‌
Seagate
Technology
Holdings
PLC
(e)
166‌
146‌
Super
Micro
Computer
Inc
(d)
215‌
10‌
Western
Digital
Corp
145‌
77‌
Zscaler
Inc
(d),(e)
1,408‌
197‌
$
5,933‌
Consumer
Products
-
0.01%
Avery
Dennison
Corp
33‌
5‌
Church
&
Dwight
Co
Inc
101‌
9‌
Clorox
Co/The
52‌
5‌
Kimberly-Clark
Corp
263‌
26‌
$
45‌
Cosmetics
&
Personal
Care
-
0.15%
Colgate-Palmolive
Co
607‌
55‌
Estee
Lauder
Cos
Inc/The
(e)
2,563‌
227‌
Kenvue
Inc
(f)
22,638‌
391‌
Procter
&
Gamble
Co/The
1,076‌
155‌
$
828‌
Distribution
&
Wholesale
-
0.21%
AddTech
AB
20,328‌
725‌
Copart
Inc
(d)
381‌
12‌
Fastenal
Co
491‌
22‌
Pool
Corp
14‌
3‌
SGH
Ltd
13,505‌
399‌
WW
Grainger
Inc
19‌
23‌
$
1,184‌
Diversified
Financial
Services
-
0.68%
4L
Technologies
(d),(g)
24,306‌
—‌
American
Express
Co
(e)
432‌
137‌
Ameriprise
Financial
Inc
(e)
709‌
316‌
Apollo
Global
Management
Inc
199‌
26‌
Ares
Management
Corp
(e)
562‌
72‌
Blackrock
Inc
62‌
65‌
Capital
One
Financial
Corp
267‌
50‌
Cboe
Global
Markets
Inc
45‌
15‌
Charles
Schwab
Corp/The
(e)
1,601‌
139‌
CME
Group
Inc
192‌
52‌
Coinbase
Global
Inc
(d)
95‌
18‌
DigitalBridge
Group
Inc
17,194‌
269‌
Element
Comm
Aviation
(d),(g),(h)
280‌
—‌
Franklin
Resources
Inc
131‌
4‌
Interactive
Brokers
Group
Inc
-
A
Shares
191‌
17‌
Intercontinental
Exchange
Inc
243‌
36‌
Invesco
Ltd
190‌
5‌
Janus
Henderson
Group
PLC
6,438‌
333‌
London
Stock
Exchange
Group
PLC
(e)
2,424‌
293‌
Mastercard
Inc
407‌
201‌
Nasdaq
Inc
(e)
6,188‌
573‌
Raymond
James
Financial
Inc
(e)
2,532‌
363‌
Rocket
Cos
Inc
(d),(e)
4,452‌
65‌
Synchrony
Financial
(e)
7,711‌
551‌
T
Rowe
Price
Group
Inc
94‌
10‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
65
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Diversified
Financial
Services
(continued)
TPG
Inc
-
Contingent
Value
Rights
(d),(g)
12,804‌
$
—‌
Visa
Inc
719‌
235‌
$
3,845‌
Electric
-
0.87%
AES
Corp/The
27,340‌
402‌
Alliant
Energy
Corp
110‌
8‌
Ameren
Corp
118‌
13‌
American
Electric
Power
Co
Inc
231‌
29‌
Boralex
Inc
14,664‌
392‌
Brookfield
Renewable
Corp
3,000‌
120‌
CenterPoint
Energy
Inc
279‌
12‌
CMS
Energy
Corp
(e)
1,785‌
130‌
Consolidated
Edison
Inc
154‌
16‌
Constellation
Energy
Corp
133‌
38‌
Contact
Energy
Ltd
32,072‌
183‌
Dominion
Energy
Inc
365‌
24‌
DTE
Energy
Co
89‌
13‌
Duke
Energy
Corp
492‌
61‌
Edison
International
(e)
4,871‌
341‌
Emera
Inc
(e)
2,100‌
110‌
Enel
SpA
(e)
50,101‌
562‌
Entergy
Corp
194‌
21‌
Evergy
Inc
99‌
8‌
Eversource
Energy
(e)
1,187‌
81‌
Exelon
Corp
438‌
20‌
FirstEnergy
Corp
222‌
10‌
Kansai
Electric
Power
Co
Inc/The
(e)
8,100‌
119‌
Meridian
Energy
Ltd
60,425‌
212‌
National
Grid
PLC
(e)
22,650‌
364‌
NextEra
Energy
Inc
891‌
78‌
NRG
Energy
Inc
(e)
2,740‌
367‌
PG&E
Corp
(e)
39,966‌
653‌
Pinnacle
West
Capital
Corp
51‌
5‌
PPL
Corp
317‌
11‌
Public
Service
Enterprise
Group
Inc
(e)
993‌
78‌
Sempra
279‌
25‌
Southern
Co/The
471‌
43‌
TXNM
Energy
Inc
2,062‌
122‌
Verbund
AG
2,238‌
150‌
Vistra
Corp
136‌
22‌
WEC
Energy
Group
Inc
139‌
15‌
Xcel
Energy
Inc
253‌
20‌
$
4,878‌
Electrical
Components
&
Equipment
-
0.29%
ABB
Ltd
(e)
9,248‌
989‌
AMETEK
Inc
(e)
2,569‌
580‌
Eaton
Corp
PLC
166‌
67‌
Generac
Holdings
Inc
(d)
25‌
7‌
$
1,643‌
Electronics
-
0.88%
Allegion
plc
37‌
5‌
Amphenol
Corp
(e)
4,298‌
639‌
Celestica
Inc
(d),(e)
200‌
77‌
Coherent
Corp
(d)
80‌
29‌
Emerson
Electric
Co
384‌
55‌
Fortive
Corp
134‌
8‌
Garmin
Ltd
(e)
335‌
78‌
Halma
PLC
(e)
1,170‌
74‌
Honeywell
International
Inc
8,107‌
1,929‌
Hoya
Corp
500‌
85‌
Hubbell
Inc
23‌
11‌
Jabil
Inc
(e)
216‌
78‌
Keysight
Technologies
Inc
(d),(e)
1,132‌
383‌
Mettler-Toledo
International
Inc
(d)
9‌
11‌
Murata
Manufacturing
Co
Ltd
(e)
10,100‌
636‌
TDK
Corp
(e)
7,700‌
199‌
TE
Connectivity
PLC
(e)
2,878‌
614‌
Trimble
Inc
(d)
102‌
6‌
$
4,917‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Energy
-
Alternate
Sources
-
0.12%
First
Solar
Inc
(d),(e)
1,081‌
$
332‌
Vestas
Wind
Systems
A/S
(e)
11,672‌
327‌
$
659‌
Engineering
&
Construction
-
0.79%
AECOM
(e)
7,931‌
550‌
AtkinsRealis
Group
Inc
2,400‌
144‌
Comfort
Systems
USA
Inc
(e)
156‌
285‌
Eiffage
SA
(e)
473‌
68‌
EMCOR
Group
Inc
19‌
16‌
Jacobs
Solutions
Inc
50‌
6‌
Shimizu
Corp
(e)
33,400‌
561‌
Stantec
Inc
(e)
4,700‌
355‌
TopBuild
Corp
(d)
3,926‌
1,639‌
Vinci
SA
(e)
2,514‌
366‌
WSP
Global
Inc
(e)
3,000‌
425‌
$
4,415‌
Entertainment
-
0.42%
Caesars
Entertainment
Inc
(d),(f)
72,329‌
2,101‌
DraftKings
Inc
(d)
3,502‌
86‌
Entain
PLC
(e)
20,924‌
150‌
Live
Nation
Entertainment
Inc
(d)
68‌
11‌
TKO
Group
Holdings
Inc
28‌
6‌
$
2,354‌
Environmental
Control
-
0.01%
Pentair
PLC
70‌
5‌
Republic
Services
Inc
86‌
17‌
Veralto
Corp
106‌
9‌
Waste
Management
Inc
159‌
34‌
$
65‌
Food
-
0.55%
Aeon
Co
Ltd
25,000‌
219‌
Ajinomoto
Co
Inc
(e)
19,500‌
630‌
Campbell's
Company/The
83‌
2‌
Conagra
Brands
Inc
205‌
3‌
General
Mills
Inc
228‌
8‌
Hershey
Co/The
(e)
403‌
78‌
Hormel
Foods
Corp
123‌
3‌
Iron
Horse
Acquisitions
Corp
(d)
939‌
5‌
J
M
Smucker
Co/The
46‌
5‌
Jeronimo
Martins
SGPS
SA
(e)
12,763‌
270‌
Koninklijke
Ahold
Delhaize
NV
16,192‌
682‌
Kraft
Heinz
Co/The
365‌
9‌
Kroger
Co/The
249‌
15‌
McCormick
&
Co
Inc/MD
109‌
5‌
Mondelez
International
Inc
548‌
33‌
Nestle
SA
2,551‌
259‌
Saputo
Inc
(e)
9,600‌
294‌
Sysco
Corp
(e)
6,971‌
529‌
TreeHouse
Foods
Inc
-
Contingent
Value
Rights
(d),(g)
15,806‌
28‌
Tyson
Foods
Inc
121‌
7‌
$
3,084‌
Forest
Products
&
Paper
-
0.00%
International
Paper
Co
226‌
8‌
Gas
-
0
.22%
Atmos
Energy
Corp
2,024‌
342‌
Centrica
PLC
(e)
72,491‌
183‌
Naturgy
Energy
Group
SA
13,653‌
452‌
NiSource
Inc
205‌
9‌
Osaka
Gas
Co
Ltd
7,900‌
266‌
$
1,252‌
Hand
&
Machine
Tools
-
0.00%
Snap-on
Inc
22‌
8‌
Stanley
Black
&
Decker
Inc
66‌
5‌
$
13‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
66
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Healthcare
-
Products
-
0.61%
Abbott
Laboratories
744‌
$
64‌
ABIOMED
Inc
-
Contingent
Value
Rights
(d),(g)
692‌
1‌
Agilent
Technologies
Inc
121‌
16‌
Align
Technology
Inc
(d)
29‌
5‌
Baxter
International
Inc
220‌
4‌
Bio-Techne
Corp
67‌
4‌
Boston
Scientific
Corp
(d)
635‌
31‌
Cooper
Cos
Inc/The
(d)
84‌
5‌
Danaher
Corp
269‌
49‌
Edwards
Lifesciences
Corp
(d)
248‌
21‌
GE
HealthCare
Technologies
Inc
195‌
12‌
IDEXX
Laboratories
Inc
(d),(e)
375‌
211‌
Insulet
Corp
(d),(e)
2,852‌
413‌
Intuitive
Surgical
Inc
(d)
385‌
164‌
Masimo
Corp
(d)
3,192‌
570‌
Medtronic
PLC
549‌
41‌
Penumbra
Inc
(d)
3,817‌
1,215‌
ResMed
Inc
62‌
12‌
Revvity
Inc
49‌
5‌
Solventum
Corp
(d)
63‌
5‌
STERIS
PLC
42‌
9‌
Stryker
Corp
147‌
45‌
Terumo
Corp
19,600‌
295‌
Thermo
Fisher
Scientific
Inc
161‌
79‌
Waters
Corp
(d)
42‌
16‌
West
Pharmaceutical
Services
Inc
(e)
481‌
155‌
Zimmer
Biomet
Holdings
Inc
85‌
7‌
$
3,454‌
Healthcare
-
Services
-
0.22%
Centene
Corp
(d)
200‌
12‌
Charles
River
Laboratories
International
Inc
(d)
21‌
4‌
Cigna
Group/The
113‌
31‌
DaVita
Inc
(d)
14‌
3‌
Elevance
Health
Inc
264‌
104‌
HCA
Healthcare
Inc
(e)
691‌
261‌
Humana
Inc
52‌
16‌
IQVIA
Holdings
Inc
(d)
73‌
13‌
Labcorp
Holdings
Inc
35‌
9‌
Quest
Diagnostics
Inc
47‌
9‌
Select
Medical
Holdings
Corp
22,454‌
370‌
UnitedHealth
Group
Inc
416‌
159‌
Universal
Health
Services
Inc
(e)
1,817‌
266‌
$
1,257‌
Holding
Companies
-
Diversified
-
2.64%
1RT
Acquisition
Corp
(d)
566‌
6‌
AA
Mission
Acquisition
Corp
II
(d)
41,867‌
425‌
AA
Mission
Acquisition
Corp
II
-
Warrants
(d)
4,933‌
1‌
Abony
Acquisition
Corp
I
(d)
2,803‌
28‌
Acropolis
Infrastructure
Acquisition
Corp
-
Escrow
(d),(g)
5,690‌
—‌
Activate
Energy
Acquisition
Corp
(d)
13,600‌
136‌
Activate
Energy
Acquisition
Corp
-
Warrants
(d)
4,001‌
2‌
AI
Infrastructure
Acquisition
Corp
(d)
8,503‌
88‌
AI
Infrastructure
Acquisition
Corp
(d)
6,045‌
61‌
Alchemy
Investments
Acquisition
Corp
1
-
Warrants
(d)
3,107‌
—‌
Aldabra
4
Liquidity
Opportunity
Vehicle
Inc
(d)
5,605‌
56‌
Aldel
Financial
II
Inc
-
Warrants
(d)
3,442‌
1‌
AltEnergy
Acquisition
Corp
-
Warrants
(d)
449‌
—‌
American
Drive
Acquisition
Co
(d)
3,676‌
37‌
Andretti
Acquisition
Corp
II
(d)
9,309‌
100‌
Aperture
AC
(d)
5,506‌
55‌
APEX
Tech
Acquisition
Inc
(d)
15,923‌
158‌
Apex
Treasury
Corp
(d)
3,103‌
31‌
Apex
Treasury
Corp
(d)
22,223‌
223‌
Archimedes
Tech
SPAC
Partners
II
Co
(d)
818‌
9‌
Archimedes
Tech
SPAC
Partners
III
Co
(d)
2,242‌
23‌
Armada
Acquisition
Corp
II
-
Class
A
(d)
15,035‌
156‌
Armada
Acquisition
Corp
II
-
Warrants
(d)
1,838‌
1‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Holding
Companies
-
Diversified
(continued)
Axiom
Intelligence
Acquisition
-
Class
A
(d)
13,350‌
$
139‌
Axiom
Intelligence
Acquisition
Corp
1
(d)
1,448‌
1‌
Bain
Capital
GSS
Investment
Corp
(d)
5,150‌
53‌
Berto
Acquisition
Corp
(d)
15,190‌
159‌
Berto
Acquisition
Corp
-
Warrants
(d)
783‌
1‌
BEST
SPAC
I
Acquisition
Corp
-
Rights
(d)
1,044‌
—‌
Bitcoin
Infrastructure
Acquisition
Corp
Ltd
(d)
5,024‌
51‌
Blue
Acquisition
Corp
(d)
2,579‌
27‌
Blue
Water
Acquisition
Corp
III
(d)
11,751‌
121‌
Blue
Water
Acquisition
Corp
III
-
Warrants
(d)
4,172‌
2‌
Blue
Water
Acquisition
Corp
IV
(d)
2,221‌
22‌
Blueport
Acquisition
Ltd
(d)
2,236‌
23‌
Bluerock
Acquisition
Corp
(d)
5,714‌
57‌
Breeze
Acquisition
Corp
II
(d)
5,079‌
51‌
BTC
Development
Corp
(d)
1,031‌
10‌
Cal
Redwood
Acquisition
Corp
-
Class
A
(d)
21,143‌
217‌
Cal
Redwood
Acquisition
Corp
-
Rights
(d)
3,133‌
1‌
Calisa
Acquisition
Corp
(d)
6,890‌
69‌
Cambridge
Acquisition
Corp
(d)
4,476‌
45‌
Cantor
Equity
Partners
I
Inc
(d)
2,618‌
28‌
Cantor
Equity
Partners
V
Inc
(d)
9,745‌
100‌
Cartesian
Growth
Corp
II
-
Warrants
(d)
781‌
—‌
Centurion
Acquisition
Corp
(d)
2‌
—‌
ChampionsGate
Acquisition
Corp
(d)
1,253‌
13‌
ChampionsGate
Acquisition
Corp
-
Rights
(d)
1,253‌
—‌
Chenghe
Acquisition
III
Co
(d)
5,671‌
58‌
Chenghe
Acquisition
III
Co
(d)
44‌
—‌
Churchill
Capital
Corp
XI
(d)
1,226‌
13‌
CN
Healthy
Food
Tech
Group
Corp
-
Warrants
(d)
4,699‌
—‌
CO2
Energy
Transition
Corp
(d)
46,099‌
481‌
Cohen
Circle
Acquisition
Corp
II
(d)
4,403‌
46‌
Collective
Acquisition
Corp
(d)
7,632‌
79‌
Collective
Acquisition
Corp
-
Warrants
(d)
5,151‌
3‌
Collective
Acquisition
Corp
II
(d)
11,252‌
112‌
Colombier
Acquisition
Corp
III
(d)
1,954‌
20‌
Columbus
Circle
Capital
Corp
II
(d)
3,355‌
34‌
Copley
Acquisition
Corp
(d)
4,854‌
51‌
Crane
Harbor
Acquisition
Corp
II
(d)
1,144‌
12‌
Crown
Reserve
Acquisition
Corp
I
(d)
5,526‌
57‌
Crown
Reserve
Acquisition
Corp
I
(d)
13,936‌
141‌
CSLM
Digital
Asset
Acquisition
Corp
III
Ltd
(d)
13,814‌
140‌
CSLM
Digital
Asset
Acquisition
Corp
III
Ltd
(d)
8,247‌
84‌
D
Boral
ARC
Acquisition
I
Corp
(d)
5,077‌
56‌
Daedalus
Special
Acquisition
Corp
(d)
3,247‌
33‌
Drugs
Made
In
America
Acquisition
II
Corp
(d)
14,179‌
143‌
Drugs
Made
In
America
Acquisition
II
Corp
(d)
10,374‌
105‌
DT
Cloud
Star
Acquisition
Corp
(d)
9,612‌
108‌
Dynamix
Corp
III
(d)
1,033‌
10‌
EGH
Acquisition
Corp
-
Class
A
(d)
1,687‌
17‌
Emmis
Acquisition
Corp
(d)
3,600‌
36‌
Emmis
Acquisition
Corp
-
Rights
(d)
3,600‌
—‌
EQV
Ventures
Acquisition
Corp
II
(d)
10,321‌
105‌
EQV
Ventures
Acquisition
Corp
II
-
Warrants
(d)
3,440‌
2‌
Eureka
Acquisition
Corp
(d)
1,047‌
12‌
FG
Merger
II
Corp
(d)
24,393‌
253‌
Fifth
Era
Acquisition
Corp
I
(d)
1,781‌
19‌
FIGX
Capital
Acquisition
Corp
(d)
1,776‌
18‌
FIGX
Capital
Acquisition
Corp
-
Class
A
(d)
2,592‌
27‌
Flag
Ship
Acquisition
Corp
(d)
1,087‌
12‌
Forefront
Tech
Holdings
Acquisition
Corp
(d)
2,208‌
22‌
Future
Money
Acquisition
Corp
(d)
5,495‌
55‌
Future
Vision
II
Acquisition
Corp
(d)
8,312‌
90‌
FutureCrest
Acquisition
Corp
(d)
206‌
2‌
Galata
Acquisition
Corp
II
(d)
3,607‌
36‌
Galata
Acquisition
Corp
II
-
Warrants
(d)
1,202‌
1‌
Gesher
Acquisition
Corp
II
(d)
5,220‌
54‌
Gesher
Acquisition
Corp
II
-
Warrants
(d)
2,610‌
1‌
GigCapital8
Corp
(d)
28,892‌
291‌
GigCapital9
Corp
(d)
6,714‌
68‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
67
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Holding
Companies
-
Diversified
(continued)
GigCapital9
Corp
(d)
7,784‌
$
77‌
Globa
Terra
Acquisition
Corp
(d)
28,136‌
289‌
Gores
Holdings
X
Inc
(d)
10,656‌
110‌
Gores
Holdings
X
Inc
-
Warrants
(d)
2,664‌
2‌
Graf
Global
Corp
(d)
4,458‌
48‌
Graf
Global
Corp
-
Warrants
(d)
2,229‌
—‌
GSR
IV
Acquisition
Corp
(d)
13,399‌
136‌
GSR
IV
Acquisition
Corp
-
Rights
(d)
1,914‌
5‌
GSR
V
Acquisition
Corp
(d)
7,882‌
79‌
Harvard
Ave
Acquisition
Corp
(d)
19,287‌
195‌
Harvard
Ave
Acquisition
Corp
-
Rights
(d)
12,376‌
1‌
HCM
III
Acquisition
Corp
(d)
514‌
5‌
Highview
Merger
Corp
(d)
3,499‌
36‌
Idea
Acquisition
Corp
(d)
3,355‌
34‌
Illumination
Acquisition
Corp
I
(d)
3,353‌
34‌
Indigo
Acquisition
Corp
(d)
5,150‌
52‌
Infinite
Eagle
Acquisition
Corp
(d)
1,125‌
12‌
Inflection
Point
Acquisition
Corp.
V
(d)
1,411‌
15‌
Iron
Dome
Acquisition
I
Corp
(d)
4,416‌
44‌
Iron
Horse
Acquisition
II
Corp
(d)
3,676‌
38‌
ITHAX
Acquisition
Corp
III
(d)
5,715‌
57‌
Jackson
Acquisition
Co
II
(d)
4,474‌
47‌
Jardine
Matheson
Holdings
Ltd
2,600‌
166‌
Jaws
Mustang
Acquisition
Corp
-
Warrants
(d)
4,137‌
—‌
Jena
Acquisition
Corp
II
(d)
18,921‌
196‌
Jena
Acquisition
Corp
II
-
Rights
(d)
8,369‌
1‌
K&F
Growth
Acquisition
Corp
II
(d)
4,226‌
44‌
K&F
Growth
Acquisition
Corp
II
-
Rights
(d)
5,396‌
1‌
K2
Capital
Acquisition
Corp
(d)
5,695‌
57‌
Keen
Vision
Acquisition
Corp
-
Warrants
(d)
9,980‌
—‌
KRAKacquisition
Corp
(d)
1,122‌
11‌
LaFayette
Acquisition
Corp
(d)
4,167‌
42‌
Lafayette
Digital
Acquisition
Corp
I
(d)
2,236‌
22‌
Lake
Superior
Acquisition
Corp
(d)
9,675‌
98‌
Lake
Superior
Acquisition
Corp
-
Rights
(d)
752‌
1‌
Lakeshore
Acquisition
III
Corp
(d)
7,855‌
81‌
Lakeshore
Acquisition
III
Corp
-
Rights
(d)
9,177‌
2‌
Launchpad
Cadenza
Acquisition
Corp
I
(d)
8,196‌
82‌
Launchpad
Cadenza
Acquisition
Corp
I
-
Warrants
(d)
2,732‌
1‌
Leapfrog
Acquisition
Corp
(d)
2,856‌
29‌
Legato
Merger
Corp
IV
(d)
3,362‌
34‌
Lightwave
Acquisition
Corp
(d)
15,438‌
158‌
Lightwave
Acquisition
Corp
-
Warrants
(d)
5,142‌
1‌
Lionheart
Holdings
(d)
8,257‌
89‌
Live
Oak
Acquisition
Corp
V
(d)
11,403‌
120‌
Live
Oak
Acquisition
Corp
V
-
Warrants
(d)
1,738‌
3‌
M
Evo
Global
Acquisition
Corp
II
(d)
6,562‌
66‌
M3-Brigade
Acquisition
VI
Corp
(d)
1,032‌
11‌
Maywood
Acquisition
Corp
2
(d)
10,076‌
100‌
McKinley
Acquisition
Corp
(d)
16,117‌
164‌
McKinley
Acquisition
Corp
(d)
2,064‌
21‌
Meshflow
Acquisition
Corp
(d)
7,990‌
80‌
Miluna
Acquisition
Corp
(d)
10,070‌
101‌
Mountain
Lake
Acquisition
Corp
(d)
19,969‌
212‌
Mountain
Lake
Acquisition
Corp
-
Rights
(d)
6,834‌
2‌
Mountain
Lake
Acquisition
Corp
II
(d)
13,772‌
139‌
Mountain
Lake
Acquisition
Corp
II
(d)
4,922‌
49‌
MOZAYYX
Acquisition
Corp
(d)
4,467‌
45‌
Muzero
Acquisition
Corp
(d)
4,478‌
45‌
New
Providence
Acquisition
Corp
III
(d)
22,674‌
235‌
New
Providence
Acquisition
Corp
III
-
Warrants
(d)
7,309‌
2‌
Newbury
Street
II
Acquisition
Corp
(d)
17,051‌
181‌
Newbury
Street
II
Acquisition
Corp
-
Warrants
(d)
4,940‌
1‌
NewHold
Investment
Corp
III
(d)
4,537‌
51‌
NewHold
Investment
Corp
III
-
Warrants
(d)
2,268‌
6‌
NewHold
Investment
Corp
IV
(d)
1,118‌
11‌
NMP
Acquisition
Corp
(d)
10,313‌
106‌
Origin
Investment
Corp
I
(d)
5,153‌
53‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Holding
Companies
-
Diversified
(continued)
OTG
Acquisition
Corp
I
(d)
2,577‌
$
27‌
OTG
Acquisition
Corp
I
(d)
4,278‌
43‌
Oxley
Bridge
Acquisition
Ltd
-
Class
A
(d)
21,677‌
221‌
Oxley
Bridge
Acquisition
Ltd
-
Warrants
(d)
2,086‌
—‌
Oyster
Enterprises
II
Acquisition
Corp
(d)
5,227‌
1‌
Oyster
Enterprises
II
Acquisition
Corp
-
Class
A
(d)
13,934‌
143‌
Peace
Acquisition
Corp
(d)
2,756‌
28‌
Perimeter
Acquisition
Corp
I
(d)
3,123‌
33‌
Perimeter
Acquisition
Corp
I
-
Warrants
(d)
1,561‌
1‌
Pershing
Square
Tontine
Holdings
Ltd
(d),(g)
977‌
—‌
Pershing
Square
Tontine
Holdings
Ltd
-
Escrow
(d),(g)
3,910‌
—‌
Pioneer
Acquisition
I
Corp
(d)
22,738‌
232‌
Pioneer
Acquisition
I
Corp
-
Warrants
(d)
7,835‌
2‌
Pono
Capital
Four
Inc
(d)
7,948‌
79‌
Praetorian
Acquisition
Corp
(d)
3,362‌
34‌
ProCap
Acquisition
Corp
-
Class
A
(d)
6,525‌
67‌
ProCap
Acquisition
Corp
-
Warrants
(d)
481‌
—‌
Proem
Acquisition
Corp
I
(d)
2,622‌
26‌
Pyrophyte
Acquisition
Corp
II
(d)
5,154‌
52‌
Quantum
Leap
Acquisition
Corp
(d)
11,227‌
112‌
Quantumsphere
Acquisition
Corp
(d)
7,212‌
74‌
Quantumsphere
Acquisition
Corp
-
Rights
(d)
2,062‌
—‌
Quartzsea
Acquisition
Corp
(d)
14,901‌
156‌
QuasarEdge
Acquisition
Corp
(d)
11,560‌
115‌
Real
Asset
Acquisition
Corp
(d)
3,522‌
40‌
Republic
Digital
Acquisition
Co
(d)
18,347‌
190‌
Republic
Digital
Acquisition
Co
-
Warrants
(d)
783‌
—‌
Ribbon
Acquisition
Corp
(d)
8,624‌
92‌
Roman
DBDR
Acquisition
Corp
II
(d)
3,871‌
41‌
Roman
DBDR
Acquisition
Corp
II
-
Warrants
(d)
3,134‌
1‌
SC
II
Acquisition
Corp
(d)
11,235‌
113‌
Siddhi
Acquisition
Corp
(d)
28,907‌
300‌
Silicon
Valley
Acquisition
Corp
(d)
4,090‌
41‌
Silver
Pegasus
Acquisition
Corp
(d)
7,216‌
74‌
Silver
Pegasus
Acquisition
Corp
(d)
2,623‌
27‌
Silverbox
Corp
IV
(d)
4,505‌
49‌
SilverBox
Corp
V
(d)
2,282‌
23‌
Sizzle
Acquisition
Corp
II
(d)
12,948‌
134‌
Sizzle
Acquisition
Corp
II
-
Rights
(d)
1,270‌
—‌
Social
Commerce
Partners
Corp
(d)
2,921‌
30‌
Solarius
Capital
Acquisition
Corp
(d)
13,197‌
136‌
Soren
Acquisition
Corp
(d)
4,478‌
45‌
Soulpower
Acquisition
Corp
(d)
11,343‌
117‌
Soulpower
Acquisition
Corp
-
Rights
(d)
6,383‌
1‌
Space
Asset
Acquisition
Corp
(d)
1,401‌
15‌
SPACSphere
Acquisition
Corp
(d)
11,188‌
114‌
Spark
I
Acquisition
Corp
-
Warrants
(d)
4,233‌
4‌
Spring
Valley
Acquisition
Corp
III
(d)
1,545‌
17‌
Starlink
AI
Acquisition
Corp
(d)
5,530‌
56‌
Starry
Sea
Acquisition
Corp
(d)
7,731‌
79‌
Stellar
V
Capital
Corp
(d)
4,313‌
46‌
Stellar
V
Capital
Corp
-
Warrants
(d)
2,156‌
—‌
Swire
Pacific
Ltd
(e)
47,500‌
494‌
Thayer
Ventures
Acquisition
Corp
II
(d)
5,908‌
1‌
Thayer
Ventures
Acquisition
Corp
II
-
Class
A
(d)
11,143‌
115‌
Titan
Acquisition
Corp
(d)
11,169‌
116‌
Titan
Acquisition
Corp
-
Warrants
(d)
5,584‌
2‌
Translational
Development
Acquisition
Corp
(d)
2,434‌
26‌
Tribeca
Strategic
Acquisition
Corp
(d)
5,532‌
55‌
UY
Scuti
Acquisition
Corp
-
Rights
(d)
2,169‌
—‌
Vendome
Acquisition
Corp
I
(d)
10,650‌
109‌
Vernal
Capital
Acquisition
Corp
(d)
3,405‌
34‌
Viking
Acquisition
Corp
I
(d)
1,624‌
17‌
Voyager
Acquisition
Corp
(d)
6,973‌
68‌
Voyager
Acquisition
Corp
-
Warrants
(d)
3,935‌
1‌
Wen
Acquisition
Corp
(d)
14,347‌
148‌
Wen
Acquisition
Corp
-
Warrants
(d)
4,008‌
1‌
West
Enclave
Merger
Corp
(d)
5,768‌
58‌
Westin
Acquisition
Corp
(d)
5,061‌
51‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
68
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Holding
Companies
-
Diversified
(continued)
White
Pearl
Acquisition
Corp
(d)
12,172‌
$
122‌
White
Pearl
Acquisition
Corp
-
Rights
(d)
6,588‌
3‌
Wintergreen
Acquisition
Corp
(d)
5,245‌
54‌
XFLH
Capital
Corp
(d)
6,715‌
67‌
Yorkville
Acquisition
Corp
(d)
12,308‌
126‌
$
14,829‌
Home
Builders
-
0.03%
Barratt
Redrow
PLC
36,272‌
128‌
DR
Horton
Inc
115‌
17‌
Lennar
Corp
-
A
Shares
92‌
8‌
NVR
Inc
(d)
1‌
6‌
PulteGroup
Inc
82‌
10‌
$
169‌
Home
Furnishings
-
0.17%
Leggett
&
Platt
Inc
5,864‌
60‌
Rational
AG
165‌
126‌
Sony
Group
Corp
(e)
35,500‌
766‌
$
952‌
Insurance
-
1.83%
Aflac
Inc
200‌
23‌
Allstate
Corp/The
(e)
2,456‌
506‌
American
International
Group
Inc
(e)
23,301‌
1,730‌
Aon
PLC
92‌
29‌
Arch
Capital
Group
Ltd
(d)
153‌
14‌
Arthur
J
Gallagher
&
Co
110‌
22‌
Assurant
Inc
21‌
5‌
Berkshire
Hathaway
Inc
-
Class
B
(d)
785‌
372‌
Brighthouse
Financial
Inc
(d)
2,112‌
132‌
Brown
&
Brown
Inc
125‌
7‌
Chubb
Ltd
156‌
49‌
Cincinnati
Financial
Corp
(e)
609‌
96‌
Erie
Indemnity
Co
11‌
2‌
Everest
Group
Ltd
(e)
823‌
267‌
Fairfax
Financial
Holdings
Ltd
(e)
100‌
156‌
Fidelity
National
Financial
Inc
(e)
9,232‌
437‌
Globe
Life
Inc
34‌
5‌
Great-West
Lifeco
Inc
(e)
11,700‌
683‌
Hannover
Rueck
SE
524‌
142‌
Hartford
Insurance
Group
Inc/The
(e)
4,903‌
623‌
Intact
Financial
Corp
1,900‌
373‌
Loews
Corp
72‌
7‌
Marsh
&
McLennan
Cos
Inc
207‌
33‌
MetLife
Inc
236‌
20‌
MS&AD
Insurance
Group
Holdings
Inc
(e)
8,500‌
228‌
Power
Corp
of
Canada
(e)
2,900‌
175‌
ProAssurance
Corp
(d),(f)
36,091‌
866‌
Progressive
Corp/The
251‌
48‌
Prudential
Financial
Inc
149‌
15‌
Prudential
PLC
(e)
11,177‌
159‌
QBE
Insurance
Group
Ltd
76,333‌
1,240‌
Sampo
Oyj
(e)
11,407‌
120‌
Suncorp
Group
Ltd
(e)
35,609‌
444‌
Talanx
AG
(e)
10,145‌
1,214‌
Travelers
Cos
Inc/The
93‌
27‌
W
R
Berkley
Corp
127‌
8‌
Willis
Towers
Watson
PLC
41‌
10‌
$
10,287‌
Internet
-
1.84%
Airbnb
Inc
(d)
181‌
24‌
Alphabet
Inc
-
A
Shares
(e)
7,119‌
2,708‌
Alphabet
Inc
-
C
Shares
2,001‌
753‌
Amazon.com
Inc
(d),(e)
5,197‌
1,406‌
AppLovin
Corp
(d)
116‌
71‌
Booking
Holdings
Inc
(e)
3,457‌
579‌
CDW
Corp/DE
56‌
7‌
DoorDash
Inc
-
Class
A
(d)
160‌
26‌
eBay
Inc
193‌
21‌
Expedia
Group
Inc
(e)
1,267‌
286‌
F5
Inc
(d),(e)
1,068‌
409‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Internet
(continued)
Gen
Digital
Inc
(e)
18,146‌
$
468‌
GoDaddy
Inc
(d)
58‌
5‌
M3
Inc
(e)
5,500‌
49‌
MercadoLibre
Inc
(d),(e)
50‌
85‌
Meta
Platforms
Inc
(e)
1,461‌
924‌
Netflix
Inc
(d)
1,807‌
155‌
Palo
Alto
Networks
Inc
(d)
346‌
98‌
Prosus
NV
(d)
3,121‌
142‌
Reddit
Inc
(d),(e)
2,736‌
482‌
Robinhood
Markets
Inc
(d)
338‌
32‌
Scout24
SE
(i)
7,243‌
609‌
Shopify
Inc
(d),(e)
2,200‌
262‌
Snap
Inc
Class
A
(d)
15,323‌
88‌
Uber
Technologies
Inc
(d),(e)
3,439‌
242‌
VeriSign
Inc
35‌
10‌
ZOZO
Inc
64,300‌
401‌
$
10,342‌
Investment
Companies
-
0.01%
EXOR
NV
(e)
592‌
46‌
Iron
&
Steel
-
0.19%
Fortescue
Ltd
(e)
23,296‌
374‌
JFE
Holdings
Inc
(e)
36,200‌
387‌
Nippon
Steel
Corp
(e)
17,500‌
62‌
Nucor
Corp
(e)
812‌
204‌
Steel
Dynamics
Inc
59‌
15‌
$
1,042‌
Leisure
Products
&
Services
-
0.06%
Carnival
Corp
Ltd
(e)
3,902‌
109‌
Norwegian
Cruise
Line
Holdings
Ltd
(d)
195‌
3‌
Royal
Caribbean
Cruises
Ltd
(e)
855‌
244‌
$
356‌
Lodging
-
0.03%
Hilton
Worldwide
Holdings
Inc
98‌
32‌
Las
Vegas
Sands
Corp
(e)
1,797‌
91‌
Marriott
International
Inc/MD
94‌
35‌
MGM
Resorts
International
(d)
82‌
4‌
Wynn
Resorts
Ltd
36‌
4‌
$
166‌
Machinery
-
Construction
&
Mining
-
0.38%
Caterpillar
Inc
199‌
174‌
Epiroc
AB
-
A
Shares
(e)
20,929‌
619‌
GE
Vernova
Inc
(e)
609‌
589‌
Hitachi
Ltd
(e)
20,000‌
648‌
Mitsubishi
Heavy
Industries
Ltd
(e)
2,500‌
59‌
Vertiv
Holdings
Co
164‌
52‌
$
2,141‌
Machinery
-
Diversified
-
0.29%
Chart
Industries
Inc
(d)
3,005‌
624‌
Deere
&
Co
108‌
59‌
Dover
Corp
58‌
12‌
FANUC
Corp
(e)
3,100‌
152‌
Hexagon
AB
9,104‌
83‌
IDEX
Corp
32‌
7‌
Ingersoll
Rand
Inc
152‌
11‌
Keyence
Corp
(e)
700‌
352‌
Nordson
Corp
23‌
7‌
Otis
Worldwide
Corp
166‌
12‌
Rockwell
Automation
Inc
(e)
662‌
299‌
Westinghouse
Air
Brake
Technologies
Corp
73‌
19‌
Xylem
Inc/NY
104‌
11‌
$
1,648‌
Media
-
1.63%
Charter
Communications
Inc
(d)
37‌
5‌
Comcast
Corp
-
Class
A
2,460‌
61‌
EchoStar
Corp
(d)
58‌
8‌
Endeavor
Group
Holdings
Inc
(d),(g)
137,899‌
3,792‌
FactSet
Research
Systems
Inc
16‌
4‌
Fox
Corp
-
A
Shares
106‌
7‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
69
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Media
(continued)
Fox
Corp
-
B
Shares
60‌
$
3‌
Liberty
Broadband
Corp
-
A
Shares
(d)
1,141‌
39‌
News
Corp
-
A
Shares
(e)
25,560‌
667‌
News
Corp
-
B
Shares
52‌
2‌
Optimum
Communications
Inc
(d)
22,876‌
15‌
Walt
Disney
Co/The
(e)
10,135‌
1,032‌
Warner
Bros
Discovery
Inc
(d)
130,465‌
3,524‌
$
9,159‌
Mining
-
1.12%
Agnico
Eagle
Mines
Ltd
(e)
3,300‌
607‌
Alamos
Gold
Inc
5,000‌
205‌
Barrick
Mining
Corp
39,146‌
1,666‌
Barrick
Mining
Corp
(e)
14,955‌
639‌
BHP
Group
Ltd
(e)
19,138‌
852‌
First
Quantum
Minerals
Ltd
(d),(e)
5,900‌
182‌
Franco-Nevada
Corp
(e)
1,000‌
232‌
Freeport-McMoRan
Inc
615‌
40‌
JX
Advanced
Metals
Corp
2,400‌
59‌
Kinross
Gold
Corp
552‌
17‌
Kinross
Gold
Corp
(e)
5,000‌
152‌
Lundin
Gold
Inc
(e)
5,000‌
334‌
Newmont
Corp
(e)
5,843‌
641‌
Pan
American
Silver
Corp
(e)
3,300‌
188‌
Pan
American
Silver
Corp
-
Rights
(d)
24,592‌
19‌
South32
Ltd
(e)
124,652‌
432‌
$
6,265‌
Miscellaneous
Manufacturers
-
0.11%
3M
Co
225‌
34‌
A
O
Smith
Corp
48‌
3‌
Axon
Enterprise
Inc
(d),(e)
469‌
210‌
Illinois
Tool
Works
Inc
112‌
28‌
Parker-Hannifin
Corp
54‌
46‌
Teledyne
Technologies
Inc
(d),(e)
479‌
297‌
Textron
Inc
75‌
7‌
$
625‌
Office
&
Business
Equipment
-
0.04%
Zebra
Technologies
Corp
(d),(e)
1,005‌
245‌
Oil
&
Gas
-
1.65%
APA
Corp
152‌
6‌
ARC
Resources
Ltd
1,588‌
36‌
ARC
Resources
Ltd
83,983‌
1,901‌
BP
PLC
(e)
14,695‌
104‌
Chevron
Corp
802‌
146‌
ConocoPhillips
524‌
60‌
Devon
Energy
Corp
493‌
22‌
Diamondback
Energy
Inc
83‌
16‌
ENEOS
Holdings
Inc
(e)
95,200‌
780‌
EOG
Resources
Inc
232‌
31‌
EQT
Corp
267‌
15‌
Equinor
ASA
(e)
7,877‌
285‌
Expand
Energy
Corp
(e)
9,638‌
896‌
Exxon
Mobil
Corp
1,965‌
286‌
Galp
Energia
SGPS
SA
(e)
22,608‌
493‌
Idemitsu
Kosan
Co
Ltd
(e)
57,800‌
507‌
Inpex
Corp
(e)
17,000‌
382‌
Marathon
Petroleum
Corp
(e)
1,438‌
357‌
Neste
Oyj
(e)
1,922‌
63‌
Occidental
Petroleum
Corp
308‌
17‌
OMV
AG
(e)
1,125‌
81‌
Phillips
66
(e)
3,388‌
596‌
Repsol
SA
(e)
14,214‌
367‌
Santos
Ltd
(e)
75,922‌
426‌
Shell
PLC
(e)
3,675‌
155‌
Texas
Pacific
Land
Corp
25‌
10‌
TotalEnergies
SE
(e)
1,008‌
88‌
Valaris
Ltd
(d)
2,556‌
237‌
Valero
Energy
Corp
(e)
3,811‌
933‌
$
9,296‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Oil
&
Gas
Services
-
0.12%
Baker
Hughes
Co
(e)
1,397‌
$
89‌
Halliburton
Co
(e)
14,475‌
563‌
SLB
Ltd
640‌
35‌
$
687‌
Packaging
&
Containers
-
0.07%
Amcor
PLC
198‌
8‌
Ball
Corp
115‌
6‌
CCL
Industries
Inc
(e)
1,300‌
84‌
Packaging
Corp
of
America
59‌
13‌
Smurfit
Westrock
PLC
(e)
6,716‌
276‌
$
387‌
Pharmaceuticals
-
1.46%
AbbVie
Inc
(e)
2,268‌
495‌
Astellas
Pharma
Inc
(e)
4,500‌
64‌
AstraZeneca
PLC
(e)
543‌
101‌
Becton
Dickinson
&
Co
122‌
18‌
Bristol-Myers
Squibb
Co
(e)
2,591‌
148‌
Cardinal
Health
Inc
(e)
1,262‌
248‌
Cencora
Inc
114‌
30‌
Centessa
Pharmaceuticals
PLC
ADR
(d),(f)
28,000‌
1,113‌
Chugai
Pharmaceutical
Co
Ltd
3,600‌
178‌
CVS
Health
Corp
(e)
1,210‌
110‌
Daiichi
Sankyo
Co
Ltd
(e)
35,700‌
601‌
Dexcom
Inc
(d)
165‌
12‌
Eisai
Co
Ltd
22,700‌
564‌
Eli
Lilly
&
Co
(e)
814‌
900‌
Galderma
Group
AG
(d),(e)
3,274‌
693‌
Grifols
SA
13,014‌
141‌
GSK
PLC
(e)
5,318‌
134‌
Henry
Schein
Inc
(d)
43‌
3‌
Johnson
&
Johnson
1,031‌
232‌
Kyowa
Kirin
Co
Ltd
(e)
6,200‌
97‌
McKesson
Corp
(e)
640‌
476‌
Merck
&
Co
Inc
1,278‌
152‌
Neurocrine
Biosciences
Inc
(d),(e)
1,311‌
208‌
Organon
&
Co
(f)
50,968‌
680‌
Pfizer
Inc
(e)
14,246‌
373‌
Sanofi
SA
(e)
2,822‌
247‌
Takeda
Pharmaceutical
Co
Ltd
(e)
5,200‌
166‌
Viatris
Inc
493‌
8‌
Zoetis
Inc
181‌
14‌
$
8,206‌
Pipelines
-
0.09%
Cheniere
Energy
Inc
(e)
1,499‌
337‌
Keyera
Corp
(e)
1,700‌
71‌
Kinder
Morgan
Inc
838‌
26‌
ONEOK
Inc
269‌
23‌
Southcross
Holdings
(d),(g)
615,976‌
—‌
Targa
Resources
Corp
92‌
23‌
Williams
Cos
Inc/The
649‌
46‌
$
526‌
Private
Equity
-
0.06%
3i
Group
PLC
(e)
5,112‌
155‌
Blackstone
Inc
320‌
38‌
KKR
&
Co
Inc
294‌
28‌
Partners
Group
Holding
AG
(e)
113‌
119‌
$
340‌
Real
Estate
-
0
.11%
CBRE
Group
Inc
(d)
124‌
15‌
CFLD
Cayman
Investment
Ltd
Unit
Trust
(d)
233,812‌
1‌
CoStar
Group
Inc
(d)
181‌
6‌
Kaisa
Group
Holdings
Ltd
(d)
93,627‌
1‌
Mitsui
Fudosan
Co
Ltd
(e)
50,100‌
480‌
Sunac
China
Holdings
Ltd
(d)
8,540‌
1‌
Vonovia
SE
(e)
4,859‌
121‌
$
625‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
70
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
REITs
-
0.77%
Alexandria
Real
Estate
Equities
Inc
67‌
$
3‌
American
Tower
Corp
(e)
3,011‌
563‌
AvalonBay
Communities
Inc
61‌
11‌
BXP
Inc
63‌
4‌
Camden
Property
Trust
44‌
5‌
CapitaLand
Ascendas
REIT
(e)
369,400‌
724‌
Crown
Castle
Inc
(e)
5,396‌
494‌
Digital
Realty
Trust
Inc
138‌
26‌
Equinix
Inc
42‌
45‌
Equity
Residential
147‌
10‌
Essex
Property
Trust
Inc
28‌
8‌
Extra
Space
Storage
Inc
91‌
13‌
Federal
Realty
Investment
Trust
34‌
4‌
Gaming
and
Leisure
Properties
Inc
(e)
9,035‌
424‌
Healthpeak
Properties
Inc
(e)
12,676‌
243‌
Host
Hotels
&
Resorts
Inc
274‌
6‌
Invitation
Homes
Inc
(e)
5,949‌
174‌
Iron
Mountain
Inc
127‌
16‌
Kimco
Realty
Corp
288‌
7‌
Mid-America
Apartment
Communities
Inc
50‌
6‌
Prologis
Inc
398‌
57‌
Public
Storage
68‌
21‌
Realty
Income
Corp
394‌
24‌
Regency
Centers
Corp
70‌
5‌
SBA
Communications
Corp
46‌
9‌
Simon
Property
Group
Inc
283‌
59‌
Stockland
71,567‌
210‌
Sun
Communities
Inc
(e)
597‌
74‌
UDR
Inc
129‌
5‌
Ventas
Inc
203‌
17‌
VICI
Properties
Inc
(e)
34,523‌
974‌
Welltower
Inc
299‌
61‌
Weyerhaeuser
Co
308‌
8‌
$
4,310‌
Retail
-
0.86%
Alimentation
Couche-Tard
Inc
(e)
5,000‌
283‌
AutoZone
Inc
(d)
7‌
21‌
Avolta
AG
(d)
4,673‌
294‌
Best
Buy
Co
Inc
(e)
3,528‌
275‌
Canadian
Tire
Corp
Ltd
1,300‌
167‌
Carvana
Co
(d)
1,548‌
113‌
Casey's
General
Stores
Inc
16‌
12‌
Chipotle
Mexican
Grill
Inc
(d)
557‌
18‌
Cie
Financiere
Richemont
SA
959‌
206‌
Costco
Wholesale
Corp
211‌
202‌
Darden
Restaurants
Inc
49‌
10‌
Dollar
General
Corp
(e)
3,655‌
404‌
Dollar
Tree
Inc
(d),(e)
5,474‌
637‌
Domino's
Pizza
Inc
545‌
169‌
Genuine
Parts
Co
60‌
6‌
Home
Depot
Inc/The
426‌
135‌
Industria
de
Diseno
Textil
SA
(e)
1,011‌
62‌
JD
Sports
Fashion
PLC
63,910‌
72‌
Lowe's
Cos
Inc
240‌
51‌
Lululemon
Athletica
Inc
(d),(e)
4,276‌
561‌
McDonald's
Corp
305‌
85‌
Nitori
Holdings
Co
Ltd
4,400‌
72‌
O'Reilly
Automotive
Inc
(d)
360‌
31‌
Pandora
A/S
(e)
1,560‌
146‌
Ross
Stores
Inc
138‌
32‌
Starbucks
Corp
487‌
48‌
Target
Corp
194‌
25‌
TJX
Cos
Inc/The
723‌
112‌
Tractor
Supply
Co
226‌
7‌
Tsuruha
Holdings
Inc
3,800‌
47‌
Ulta
Beauty
Inc
(d)
19‌
10‌
Walmart
Inc
1,876‌
217‌
Williams-Sonoma
Inc
51‌
10‌
Yum!
Brands
Inc
119‌
18‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Retail
(continued)
Zalando
SE
(d),(i)
9,566‌
$
259‌
$
4,817‌
Semiconductors
-
3.19%
Advanced
Micro
Devices
Inc
(d),(e)
1,259‌
649‌
Advantest
Corp
(e)
1,400‌
229‌
Analog
Devices
Inc
(e)
1,112‌
460‌
Applied
Materials
Inc
(e)
1,470‌
662‌
ASM
International
NV
(e)
416‌
434‌
ASML
Holding
NV
(e)
465‌
752‌
ASML
Holding
NV
-
NY
Reg
Shares
13‌
21‌
BE
Semiconductor
Industries
NV
(e)
613‌
203‌
Broadcom
Inc
(e)
5,537‌
2,473‌
Infineon
Technologies
AG
(e)
817‌
77‌
Intel
Corp
(d)
2,009‌
230‌
KLA
Corp
(e)
105‌
202‌
Lam
Research
Corp
(e)
2,409‌
767‌
Marvell
Technology
Inc
(e)
333‌
68‌
Microchip
Technology
Inc
(e)
1,480‌
140‌
Micron
Technology
Inc
(e)
1,079‌
1,048‌
Monolithic
Power
Systems
Inc
61‌
96‌
NVIDIA
Corp
(e)
25,733‌
5,433‌
NXP
Semiconductors
NV
(e)
1,959‌
630‌
ON
Semiconductor
Corp
(d)
169‌
20‌
Qorvo
Inc
(d)
12,978‌
1,344‌
QUALCOMM
Inc
457‌
115‌
Renesas
Electronics
Corp
(e)
7,800‌
217‌
Skyworks
Solutions
Inc
64‌
5‌
Taiwan
Semiconductor
Manufacturing
Co
Ltd
ADR
52‌
22‌
Teradyne
Inc
(e)
984‌
368‌
Texas
Instruments
Inc
(e)
2,449‌
749‌
Tokyo
Electron
Ltd
(e)
1,600‌
537‌
$
17,951‌
Shipbuilding
-
0.00%
Huntington
Ingalls
Industries
Inc
17‌
5‌
Software
-
1.42%
Adobe
Inc
(d)
176‌
46‌
Akamai
Technologies
Inc
(d)
62‌
9‌
Atlassian
Corp
(d),(e)
1,557‌
168‌
Autodesk
Inc
(d),(e)
453‌
105‌
Broadridge
Financial
Solutions
Inc
(e)
1,979‌
305‌
Cadence
Design
Systems
Inc
(d)
116‌
43‌
Datadog
Inc
(d),(e)
598‌
148‌
Electronic
Arts
Inc
(f)
4,921‌
992‌
Fair
Isaac
Corp
(d),(e)
81‌
101‌
Fidelity
National
Information
Services
Inc
(e)
8,725‌
376‌
Fiserv
Inc
(d)
230‌
13‌
HubSpot
Inc
(d),(e)
270‌
60‌
iLearningEngines
Holdings
Inc
-
Warrants
(d)
1,824‌
—‌
Intuit
Inc
(e)
682‌
226‌
Jack
Henry
&
Associates
Inc
31‌
4‌
LeddarTech
Holdings
Inc
-
Warrants
(d)
2,297‌
—‌
Microsoft
Corp
(e)
5,315‌
2,392‌
MongoDB
Inc
(d),(e)
625‌
210‌
MSCI
Inc
(e)
1,519‌
959‌
Octave
Intelligence
PLC
(d)
910‌
15‌
Oracle
Corp
1,942‌
439‌
Palantir
Technologies
Inc
(d),(e)
2,676‌
419‌
Paychex
Inc
138‌
13‌
PTC
Inc
(d)
51‌
7‌
ROBLOX
Corp
(d)
1,165‌
55‌
Roper
Technologies
Inc
46‌
15‌
Salesforce
Inc
491‌
94‌
SAP
SE
ADR
84‌
15‌
ServiceNow
Inc
(d)
448‌
56‌
Snowflake
Inc
-
Class
A
(d),(e)
1,741‌
445‌
Synopsys
Inc
(d)
82‌
39‌
Take-Two
Interactive
Software
Inc
(d)
74‌
17‌
Twilio
Inc
(d)
783‌
149‌
Tyler
Technologies
Inc
(d)
18‌
6‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
71
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Software
(continued)
Veeva
Systems
Inc
(d)
65‌
$
11‌
Workday
Inc
(d)
91‌
13‌
$
7,965‌
Telecommunications
-
1.17%
Airtel
Africa
PLC
(e),(i)
78,856‌
372‌
Arista
Networks
Inc
(d),(e)
2,650‌
422‌
AT&T
Inc
(e)
31,629‌
784‌
Ciena
Corp
(d)
60‌
35‌
Cisco
Systems
Inc
(e)
3,218‌
388‌
Corning
Inc
334‌
61‌
Credo
Technology
Group
Holding
Ltd
(d),(e)
322‌
76‌
Deutsche
Telekom
AG
(e)
22,501‌
755‌
Globalstar
Inc
(d)
1,700‌
143‌
HKT
Trust
&
HKT
Ltd
(e)
460,000‌
711‌
Motorola
Solutions
Inc
(e)
1,004‌
405‌
SoftBank
Corp
716,400‌
968‌
Tele2
AB
(e)
13,420‌
252‌
Telefonaktiebolaget
LM
Ericsson
(e)
22,607‌
295‌
T-Mobile
US
Inc
(e)
1,589‌
298‌
Verizon
Communications
Inc
3,116‌
149‌
Vodafone
Group
PLC
(e)
288,861‌
434‌
$
6,548‌
Textiles
-
0.38%
UniFirst
Corp/MA
(f)
7,959‌
2,112‌
Toys,
Games
&
Hobbies
-
0.02%
Hasbro
Inc
57‌
5‌
Sanrio
Co
Ltd
(e)
22,000‌
118‌
$
123‌
Transportation
-
1.93%
CH
Robinson
Worldwide
Inc
(e)
3,623‌
647‌
CSX
Corp
(e)
8,653‌
392‌
Deutsche
Post
AG
(e)
5,077‌
302‌
Expeditors
International
of
Washington
Inc
(e)
2,202‌
348‌
FedEx
Corp
(e)
5,511‌
2,269‌
JB
Hunt
Transport
Services
Inc
(e)
2,303‌
637‌
Norfolk
Southern
Corp
(f)
13,159‌
4,013‌
Old
Dominion
Freight
Line
Inc
79‌
18‌
Seibu
Holdings
Inc
13,700‌
243‌
SITC
International
Holdings
Co
Ltd
(e)
86,000‌
380‌
TFI
International
Inc
500‌
77‌
Union
Pacific
Corp
(e)
2,904‌
763‌
United
Parcel
Service
Inc
(e)
7,131‌
761‌
$
10,850‌
Water
-
0.05%
American
Water
Works
Co
Inc
84‌
11‌
United
Utilities
Group
PLC
(e)
15,281‌
276‌
$
287‌
TOTAL
COMMON
STOCKS
$
210,368‌
CONVERTIBLE
PREFERRED
STOCKS
-
0.02%
Shares
Held
Value
(000's)
Chemicals
-
0.00%
Albemarle
Corp
7.25%,
03/01/2027
200‌
$
14‌
Diversified
Financial
Services
-
0.00%
Apollo
Global
Management
Inc
6.75%,
07/31/2026
100‌
6‌
Electric
-
0.01%
PG&E
Corp
6.00%,
12/01/2027
516‌
21‌
Pipelines
-
0.00%
Southcross
Energy
Series
A
0.00%
(d),(g)
2,399,339‌
18‌
Software
-
0.01%
Oracle
Corp
6.50%,
01/15/2029
400‌
26‌
TOTAL
CONVERTIBLE
PREFERRED
STOCKS
$
85‌
PREFERRED
STOCKS
-
0.19%
Shares
Held
Value
(000's)
Automobile
Manufacturers
-
0.09%
Volkswagen
AG
5.26%
(e)
4,990‌
$
533‌
PREFERRED
STOCKS
(continued)
Shares
Held
Value
(000’s)
Finance
-
Mortgage
Loan/Banker
-
0.10%
Fannie
Mae
0.00%,
07/01/2026
(d),(j)
37,200‌
$
357‌
3
Month
USD
LIBOR
+
0.75%
Freddie
Mac
-
Series
Z
0.00%,
12/31/2027
(d),(j)
14,837‌
178‌
$
535‌
TOTAL
PREFERRED
STOCKS
$
1,068‌
BONDS
-
27.01%
Principal
Amount
(000's)
Value
(000's)
Aerospace
&
Defense
-
0.29%
Boeing
Co/The
5.15%,
05/01/2030
$
60‌
$
61‌
5.71%,
05/01/2040
151‌
154‌
5.81%,
05/01/2050
305‌
302‌
5.93%,
05/01/2060
10‌
10‌
6.53%,
05/01/2034
45‌
49‌
6.86%,
05/01/2054
135‌
152‌
7.01%,
05/01/2064
65‌
74‌
Czechoslovak
Group
AS
6.50%,
01/10/2031
(i)
400‌
409‌
6.50%,
01/10/2031
400‌
409‌
Honeywell
Aerospace
Inc
4.95%,
03/16/2036
(i)
26‌
26‌
$
1,646‌
Airlines
-
0.02%
United
Airlines
2019-2
Class
B
Pass
Through
Trust
3.50%,
11/01/2029
104‌
102‌
Automobile
Asset
Backed
Securities
-
0.47%
American
Credit
Acceptance
Receivables
Trust
2023-4
7.65%,
09/12/2030
(i)
100‌
102‌
American
Credit
Acceptance
Receivables
Trust
2025-1
5.54%,
08/12/2031
(i)
30‌
30‌
Avis
Budget
Rental
Car
Funding
AESOP
LLC
2.13%,
08/20/2027
(i)
175‌
175‌
5.58%,
12/20/2030
(i)
120‌
121‌
7.24%,
06/20/2029
(i)
100‌
103‌
Bridgecrest
Lending
Auto
Securitization
Trust
2024-2
6.30%,
02/15/2030
120‌
122‌
Carmax
Select
Receivables
Trust
2025-B
5.33%,
07/15/2031
125‌
125‌
Carvana
Auto
Receivables
Trust
2021-N4
2.30%,
09/11/2028
11‌
11‌
Drive
Auto
Receivables
Trust
2024-1
5.43%,
11/17/2031
30‌
30‌
Drive
Auto
Receivables
Trust
2025-2
4.90%,
12/15/2032
50‌
50‌
DT
Auto
Owner
Trust
2022-2
5.46%,
03/15/2028
(i)
72‌
72‌
DT
Auto
Owner
Trust
2023-2
6.62%,
02/15/2029
(i)
115‌
117‌
DT
Auto
Owner
Trust
2023-3
7.12%,
05/15/2029
(i)
100‌
102‌
Exeter
Automobile
Receivables
Trust
2023-2
6.32%,
08/15/2029
100‌
101‌
Exeter
Automobile
Receivables
Trust
2023-5
7.13%,
02/15/2030
125‌
129‌
Exeter
Automobile
Receivables
Trust
2024-5
5.06%,
02/18/2031
50‌
50‌
FHF
Issuer
Trust
2025-1
4.92%,
02/15/2031
(i)
47‌
47‌
FHF
Issuer
Trust
2025-2
5.75%,
05/15/2030
(i)
121‌
121‌
FHF
Issuer
Trust
2026-1
5.41%,
09/16/2030
(i)
30‌
30‌
5.77%,
02/17/2032
(i)
20‌
20‌
First
Investors
Auto
Owner
Trust
2025-1
5.22%,
12/15/2033
(i)
25‌
25‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
72
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Automobile
Asset
Backed
Securities
(continued)
GLS
Auto
Receivables
Issuer
Trust
2023-4
7.18%,
08/15/2029
(i)
$
110‌
$
113‌
GLS
Auto
Receivables
Issuer
Trust
2024-1
5.95%,
12/17/2029
(i)
25‌
25‌
GLS
Auto
Select
Receivables
Trust
2024-2
5.93%,
06/17/2030
(i)
15‌
15‌
LAD
Auto
Receivables
Trust
2023-4
6.76%,
03/15/2029
(i)
50‌
51‌
Prestige
Auto
Receivables
Trust
2021-1
2.08%,
02/15/2028
(i)
84‌
84‌
Red
Oak
Funding
Master
Trust
5.63%,
12/20/2030
(i)
55‌
55‌
1.00
x
30
Day
Average
Secured
Overnight
Financing
Rate
+
2.00%
Santander
Drive
Auto
Receivables
Trust
2024-3
5.97%,
10/15/2031
130‌
133‌
Westlake
Automobile
Receivables
Trust
2023-3
6.47%,
03/15/2029
(i)
100‌
102‌
Westlake
Automobile
Receivables
Trust
2023-4
7.19%,
07/16/2029
(i)
110‌
113‌
Westlake
Automobile
Receivables
Trust
2024-1
5.65%,
02/15/2029
(i)
35‌
35‌
6.02%,
10/15/2029
(i)
90‌
92‌
Westlake
Automobile
Receivables
Trust
2024-2
5.91%,
04/15/2030
(i)
25‌
25‌
Westlake
Automobile
Receivables
Trust
2025-1
5.54%,
11/15/2030
(i)
100‌
101‌
$
2,627‌
Automobile
Manufacturers
-
0.01
%
Allison
Transmission
Inc
3.75%,
01/30/2031
(i)
59‌
55‌
Automobile
Parts
&
Equipment
-
0.03%
ZF
North
America
Capital
Inc
6.88%,
04/23/2032
(i)
150‌
147‌
Banks
-
1.84%
Ardshinbank
CJSC
Via
Dilijan
Finance
BV
6.60%,
01/22/2031
(i)
200‌
201‌
Banco
Nacional
de
Mexico
SA
6.70%,
08/07/2036
(i),(k),(l)
450‌
449‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
BBVA
Mexico
SA
Institucion
De
Banca
Multiple
Grupo
Financiero
BBVA
Mexico/TX
5.13%,
01/18/2033
(k),(l)
200‌
196‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
7.63%,
02/11/2035
(i),(k),(l)
700‌
726‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.38%
7.63%,
02/11/2035
(k),(l)
200‌
207‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.38%
BOI
Finance
BV
7.50%,
02/16/2027
EUR
825‌
980‌
BSF
Finance
5.76%,
09/03/2035
(k)
$
675‌
662‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.00%
Goldman
Sachs
Bank
USA/New
York
NY
4.66%,
06/03/2029
(k),(m)
330‌
330‌
Secured
Overnight
Financing
Rate
+
0.72%
Goldman
Sachs
Group
Inc/The
5.07%,
01/21/2037
(k)
52‌
51‌
Secured
Overnight
Financing
Rate
+
1.19%
5.39%,
02/02/2041
(k)
228‌
222‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.18%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
HSBC
Holdings
PLC
6.75%,
11/18/2032
(j),(k),(l)
$
400‌
$
402‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.51%
Ipoteka-Bank
ATIB
6.45%,
10/09/2030
200‌
200‌
JPMorgan
Chase
&
Co
4.90%,
01/22/2037
(k)
130‌
127‌
Secured
Overnight
Financing
Rate
+
1.07%
JPMorgan
Chase
Bank
NA
11.00%,
11/26/2027
(i)
UZS
970,000‌
81‌
Mizrahi
Tefahot
Bank
Ltd
5.84%,
04/15/2036
(i),(k),(l)
$
775‌
784‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.10%
Morgan
Stanley
2.48%,
09/16/2036
(k)
290‌
252‌
Secured
Overnight
Financing
Rate
+
1.36%
4.89%,
10/22/2036
(k)
70‌
68‌
Secured
Overnight
Financing
Rate
+
1.31%
5.31%,
01/18/2041
(k)
120‌
117‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.17%
5.95%,
01/19/2038
(k)
208‌
215‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.43%
National
Bank
of
Uzbekistan
7.20%,
07/17/2030
200‌
208‌
8.50%,
07/05/2029
400‌
427‌
Riyad
Sukuk
Ltd
6.21%,
07/14/2035
(k)
475‌
477‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.25%
Saudi
Awwal
Bank
5.95%,
09/04/2035
(k)
600‌
596‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.20%
SNB
Sukuk
Ltd
5.94%,
07/18/2036
(k)
500‌
504‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.85%
Societe
Generale
SA
5.44%,
10/03/2036
(i),(k)
200‌
197‌
Secured
Overnight
Financing
Rate
+
1.73%
Standard
Chartered
PLC
7.00%,
06/08/2033
(i),(j),(k),(l),(m)
350‌
352‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.67%
7.63%,
01/16/2032
(i),(j),(k),(l)
350‌
369‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.02%
Sumitomo
Mitsui
Trust
Bank
Ltd
3.95%,
03/05/2029
(i)
315‌
311‌
UBS
Group
AG
5.58%,
05/09/2036
(i),(k)
200‌
204‌
Secured
Overnight
Financing
Rate
+
1.76%
6.60%,
08/05/2030
(i),(j),(k),(l)
200‌
202‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.12%
Wells
Fargo
&
Co
4.89%,
09/15/2036
(k)
143‌
140‌
Secured
Overnight
Financing
Rate
+
1.34%
4.96%,
01/23/2037
(k)
101‌
99‌
Secured
Overnight
Financing
Rate
+
1.10%
$
10,356‌
Building
Materials
-
0.23%
Amrize
Finance
US
LLC
5.40%,
04/07/2035
59‌
60‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
73
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Building
Materials
(continued)
Cemex
SAB
de
CV
5.13%,
07/01/2026
(i),(j),(k)
$
200‌
$
200‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.53%
Cimko
Cimento
Ve
Beton
Sanayi
Ve
Ticaret
AS
10.75%,
05/21/2030
225‌
235‌
CRH
America
Finance
Inc
5.00%,
02/09/2036
84‌
82‌
JH
North
America
Holdings
Inc
5.88%,
01/31/2031
(i)
80‌
80‌
6.13%,
07/31/2032
(i)
114‌
114‌
Limak
Cimento
Sanayi
ve
Ticaret
AS
9.75%,
07/25/2029
450‌
452‌
Quikrete
Holdings
Inc
6.38%,
03/01/2032
(i)
87‌
89‌
$
1,312‌
Chemicals
-
0.31%
Braskem
Idesa
SAPI
0.00%,
11/15/2029
(d)
600‌
408‌
0.00%,
02/20/2032
(d)
200‌
136‌
Chemours
Co/The
5.75%,
11/15/2028
(i)
16‌
16‌
Dangote
Fertiliser
Ltd
7.75%,
05/05/2031
(i)
700‌
711‌
Illuminate
Buyer
LLC
/
Illuminate
Holdings
IV
Inc
9.00%,
07/01/2028
(i)
129‌
128‌
Sasol
Financing
USA
LLC
8.75%,
04/10/2033
(i)
225‌
238‌
Solstice
Advanced
Materials
Inc
5.63%,
09/30/2033
(i)
80‌
79‌
$
1,716‌
Commercial
Mortgage
Backed
Securities
-
0.41%
BPR
Trust
2021-NRD
9.25%,
12/15/2038
(i)
20‌
20‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
5.62%
10.50%,
12/15/2038
(i)
140‌
141‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
6.87%
BPR
Trust
2022-SSP
6.63%,
05/15/2039
(i)
245‌
244‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
3.00%
Citigroup
Commercial
Mortgage
Trust
2014-GC21
4.71%,
05/10/2047
(i),(n)
135‌
126‌
COMM
2012-CCRE3
Mortgage
Trust
3.92%,
10/15/2045
(i)
104‌
101‌
CSMC
2014-USA
OA
LLC
4.37%,
09/15/2037
(i)
1,055‌
841‌
Extended
Stay
America
Trust
2026-ESH2
6.53%,
02/15/2043
(i)
33‌
33‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.90%
Morgan
Stanley
Capital
I
Trust
2011-C2
5.21%,
06/15/2044
(i),(n)
112‌
111‌
Starwood
Retail
Property
Trust
2014-STAR
0.00%,
11/15/2027
(d),(i)
170‌
—‌
1.00
x
Prime
Rate
+
0.00%
0.00%,
11/15/2027
(d),(i)
645‌
—‌
1.00
x
Prime
Rate
+
0.00%
Wells
Fargo
Commercial
Mortgage
Trust
2016-C36
4.08%,
11/15/2059
(n)
100‌
85‌
WFRBS
Commercial
Mortgage
Trust
2011-C3
0.00%,
03/15/2044
(d),(i),(n)
108‌
39‌
WFRBS
Commercial
Mortgage
Trust
2011-C4
4.98%,
06/15/2044
(i),(n)
501‌
493‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Commercial
Mortgage
Backed
Securities
(continued)
WFRBS
Commercial
Mortgage
Trust
2014-C20
4.38%,
05/15/2047
$
62‌
$
54‌
$
2,288‌
Commercial
Services
-
0.15%
Mersin
Uluslararasi
Liman
Isletmeciligi
AS
8.25%,
11/15/2028
475‌
486‌
Mobius
Merger
Sub
Inc
9.00%,
06/01/2030
(i)
95‌
64‌
TriNet
Group
Inc
3.50%,
03/01/2029
(i)
53‌
49‌
United
Rentals
North
America
Inc
5.38%,
11/15/2033
(i)
162‌
160‌
6.13%,
03/15/2034
(i)
77‌
79‌
$
838‌
Computers
-
0.12%
Conduent
Business
Services
LLC
/
Conduent
State
&
Local
Solutions
Inc
6.00%,
11/01/2029
(i)
371‌
320‌
Leidos
Inc
5.00%,
03/15/2036
159‌
154‌
5.40%,
03/15/2032
109‌
111‌
5.75%,
03/15/2033
60‌
62‌
NetApp
Inc
5.70%,
03/17/2035
55‌
56‌
$
703‌
Diversified
Financial
Services
-
0.26%
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust
5.38%,
12/15/2031
165‌
168‌
Aircastle
Ltd
5.95%,
02/15/2029
(i)
55‌
57‌
6.50%,
07/18/2028
(i)
62‌
64‌
Aviation
Capital
Group
LLC
4.25%,
04/30/2029
(i)
7‌
7‌
4.80%,
10/24/2030
(i)
95‌
94‌
4.88%,
01/28/2033
(i)
9‌
9‌
Avolon
Holdings
Funding
Ltd
4.70%,
01/30/2031
(i)
60‌
59‌
4.85%,
04/01/2033
(i)
41‌
40‌
5.38%,
05/30/2030
(i)
45‌
46‌
BGC
Group
Inc
6.15%,
04/02/2030
45‌
46‌
Blue
Owl
Finance
LLC
6.25%,
04/18/2034
137‌
136‌
Capital
One
Financial
Corp
5.20%,
09/11/2036
(k)
65‌
63‌
Secured
Overnight
Financing
Rate
+
1.63%
Citadel
LP
6.00%,
01/23/2030
(i)
35‌
36‌
6.38%,
01/23/2032
(i)
25‌
26‌
Freedom
Mortgage
Holdings
LLC
7.88%,
04/01/2033
(i)
31‌
30‌
8.38%,
04/01/2032
(i)
10‌
10‌
9.13%,
05/15/2031
(i)
20‌
21‌
Jefferies
Financial
Group
Inc
5.13%,
04/28/2031
67‌
66‌
6.20%,
04/14/2034
116‌
120‌
Macquarie
Airfinance
Holdings
Ltd
5.15%,
03/17/2030
(i)
35‌
35‌
5.20%,
03/27/2028
(i)
25‌
25‌
Osaic
Holdings
Inc
6.75%,
08/01/2032
(i)
61‌
62‌
Sumisho
Air
Lease
Corp
4.85%,
03/24/2031
(i)
67‌
66‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
74
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Diversified
Financial
Services
(continued)
Synchrony
Financial
4.95%,
02/25/2032
(k)
$
5‌
$
5‌
Secured
Overnight
Financing
Rate
+
1.53%
5.02%,
07/29/2029
(k)
80‌
80‌
Secured
Overnight
Financing
Rate
+
1.40%
5.45%,
03/06/2031
(k)
55‌
55‌
Secured
Overnight
Financing
Rate
+
1.68%
6.00%,
07/29/2036
(k)
46‌
46‌
Secured
Overnight
Financing
Rate
+
2.07%
$
1,472‌
Electric
-
0.55%
Comision
Federal
de
Electricidad
5.00%,
09/29/2036
187‌
176‌
COX
Asset
Mexico
SA
de
CV
7.13%,
01/08/2032
(i)
475‌
483‌
Eastern
European
Electric
Co
BV
6.50%,
05/15/2030
(i)
EUR
200‌
242‌
6.50%,
05/15/2030
125‌
151‌
Energo
-
Pro
as
6.45%,
04/15/2031
450‌
521‌
8.00%,
05/27/2030
(i)
375‌
459‌
Saavi
Energia
Sarl
8.88%,
02/10/2035
(i)
$
800‌
869‌
Vistra
Operations
Co
LLC
4.70%,
01/31/2031
(i)
41‌
40‌
5.25%,
04/30/2033
(i)
39‌
39‌
5.25%,
10/15/2035
(i)
25‌
24‌
5.35%,
01/31/2036
(i)
58‌
57‌
5.55%,
04/30/2036
(i)
39‌
39‌
$
3,100‌
Electronics
-
0.05%
Ingram
Micro
Inc
4.75%,
05/15/2029
(i)
14‌
14‌
Sensata
Technologies
Inc
3.75%,
02/15/2031
(i)
130‌
122‌
TD
SYNNEX
Corp
5.30%,
10/10/2035
105‌
104‌
6.10%,
04/12/2034
29‌
30‌
$
270‌
Energy
-
Alternate
Sources
-
0.07%
FS
Luxembourg
Sarl
8.63%,
06/25/2033
(i)
200‌
199‌
8.63%,
06/25/2033
200‌
200‌
$
399‌
Engineering
&
Construction
-
0.49%
ATP
Tower
Holdings
/
Andean
Telecom
Partners
Chile
SpA
/
Andean
Tower
Partners
Colombia
SAS
7.88%,
02/03/2030
(i)
600‌
614‌
HTA
Group
Ltd/Mauritius
6.75%,
04/01/2031
(i)
350‌
356‌
7.50%,
06/04/2029
(i)
375‌
385‌
7.50%,
06/04/2029
200‌
205‌
IHS
Holding
Ltd
7.88%,
05/29/2030
(i)
475‌
490‌
7.88%,
05/29/2030
200‌
206‌
IHS
Netherlands
Holdco
BV
8.00%,
09/18/2027
292‌
292‌
Kingston
Airport
Revenue
Finance
Ltd
6.75%,
12/15/2036
(i)
200‌
202‌
$
2,750‌
Entertainment
-
0.02%
Discovery
Global
Holdings
Inc
4.28%,
03/15/2032
135‌
122‌
Environmental
Control
-
0.02%
GFL
Environmental
Holdings
US
Inc
5.50%,
02/01/2034
(i)
57‌
55‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Environmental
Control
(continued)
GFL
Environmental
Inc
4.38%,
08/15/2029
(i)
$
45‌
$
44‌
$
99‌
Food
-
0.22%
Grupo
Nutresa
SA
7.88%,
10/21/2031
(i),(j),(k)
425‌
418‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.10%
8.00%,
05/12/2030
(i)
525‌
552‌
JBS
NV/JBS
USA
Foods
Group
Holdings
Inc/JBS
USA
Food
Co
Holdings
3.00%,
02/02/2029
35‌
33‌
5.50%,
01/15/2036
140‌
140‌
5.63%,
03/10/2037
(i)
62‌
62‌
5.95%,
04/20/2035
55‌
57‌
$
1,262‌
Healthcare
-
Products
-
0.06%
Abbott
Laboratories
3.70%,
03/09/2029
315‌
310‌
Avantor
Funding
Inc
4.63%,
07/15/2028
(i)
25‌
24‌
$
334‌
Healthcare
-
Services
-
0.09%
HCA
Inc
4.90%,
11/15/2035
5‌
5‌
5.60%,
04/01/2034
234‌
240‌
Molina
Healthcare
Inc
3.88%,
05/15/2032
(i)
111‌
99‌
4.38%,
06/15/2028
(i)
65‌
64‌
6.50%,
02/15/2031
(i)
112‌
114‌
$
522‌
Home
Builders
-
0.04%
Meritage
Homes
Corp
5.65%,
03/15/2035
148‌
150‌
Taylor
Morrison
Communities
Inc
5.75%,
11/15/2032
(i)
60‌
60‌
$
210‌
Home
Equity
Asset
Backed
Securities
-
0.03%
GITSIT
Mortgage
Loan
Trust
2025-NPL1
6.28%,
02/25/2055
(i),(n)
42‌
42‌
8.84%,
02/25/2055
(i),(n)
100‌
100‌
$
142‌
Insurance
-
0.15%
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-Issuer
6.50%,
10/01/2031
(i)
48‌
48‌
6.75%,
04/15/2028
(i)
22‌
22‌
7.00%,
01/15/2031
(i)
19‌
19‌
Arthur
J
Gallagher
&
Co
5.15%,
02/15/2035
30‌
30‌
Brown
&
Brown
Inc
5.55%,
06/23/2035
25‌
25‌
Corebridge
Global
Funding
4.80%,
05/29/2029
(i)
330‌
330‌
Global
Atlantic
Fin
Co
3.13%,
06/15/2031
(i)
85‌
76‌
Ryan
Specialty
LLC
5.88%,
08/01/2032
(i)
13‌
13‌
SBL
Holdings
Inc
6.50%,
11/13/2026
(i),(j),(k)
291‌
265‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.62%
Willis
North
America
Inc
5.15%,
03/15/2036
21‌
21‌
$
849‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
75
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Internet
-
0.50%
Alphabet
Inc
4.80%,
02/15/2036
$
169‌
$
167‌
Amazon.com
Inc
4.88%,
03/13/2036
88‌
87‌
AppLovin
Corp
5.13%,
12/01/2029
37‌
38‌
5.50%,
12/01/2034
210‌
212‌
Beignet
Investor
LLC
6.58%,
05/30/2049
(i)
562‌
579‌
Getty
Images
Inc
11.25%,
02/21/2030
(i)
1,110‌
953‌
14.00%,
03/01/2028
(i)
584‌
529‌
Go
Daddy
Operating
Co
LLC
/
GD
Finance
Co
Inc
5.25%,
12/01/2027
(i)
60‌
60‌
Meta
Platforms
Inc
5.63%,
11/15/2055
93‌
86‌
6.30%,
05/15/2056
46‌
46‌
Uber
Technologies
Inc
4.80%,
09/15/2035
45‌
44‌
$
2,801‌
Investment
Companies
-
0.04%
Antares
Holdings
LP
2.75%,
01/15/2027
(i)
254‌
250‌
Iron
&
Steel
-
0.13%
Commercial
Metals
Co
5.75%,
11/15/2033
(i)
43‌
43‌
6.00%,
12/15/2035
(i)
49‌
49‌
Samarco
Mineracao
SA
4.00%,
PIK
5.00%;
06/30/2031
(n),(o)
544‌
549‌
Steel
Dynamics
Inc
5.25%,
05/15/2035
85‌
86‌
$
727‌
Leisure
Products
&
Services
-
0.05%
Kingpin
Intermediate
Holdings
LLC
7.25%,
10/15/2032
(i)
56‌
48‌
Royal
Caribbean
Cruises
Ltd
4.75%,
05/15/2033
101‌
98‌
5.25%,
02/27/2038
76‌
74‌
5.38%,
01/15/2036
22‌
22‌
5.63%,
09/30/2031
(i)
65‌
66‌
$
308‌
Lodging
-
0.11%
Gohl
Capital
Holdings
Ltd
7.63%,
10/29/2031
(j),(k)
400‌
395‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.71%
Hilton
Domestic
Operating
Co
Inc
5.50%,
03/31/2034
(i)
49‌
49‌
Hilton
Grand
Vacations
Borrower
LLC
/
Hilton
Grand
Vacations
Borrower
Inc
6.63%,
01/15/2032
(i)
30‌
30‌
Marriott
International
Inc/MD
5.10%,
05/01/2038
80‌
77‌
5.50%,
04/15/2037
59‌
60‌
$
611‌
Machinery
-
Diversified
-
0.01%
Esab
Corp
5.63%,
04/01/2031
(i)
41‌
41‌
Media
-
0.56%
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp
4.50%,
08/15/2030
(i)
46‌
43‌
4.75%,
03/01/2030
(i)
14‌
13‌
5.13%,
05/01/2027
(i)
90‌
90‌
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
6.38%,
10/23/2035
30‌
30‌
6.65%,
02/01/2034
30‌
31‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Media
(continued)
CSC
Holdings
LLC
4.63%,
12/01/2030
(i)
$
235‌
$
60‌
5.38%,
02/01/2028
(i)
200‌
127‌
Directv
Financing
LLC
8.88%,
02/01/2030
(i)
25‌
25‌
8.88%,
02/01/2030
(i)
90‌
92‌
Directv
Financing
LLC
/
Directv
Financing
Co-
Obligor
Inc
10.00%,
02/15/2031
(i)
66‌
69‌
Discovery
Communications
LLC
3.63%,
05/15/2030
5‌
5‌
6.35%,
06/01/2040
35‌
29‌
DISH
DBS
Corp
5.25%,
12/01/2026
(i)
415‌
413‌
DISH
Network
Corp
11.75%,
11/15/2027
(i)
331‌
341‌
EchoStar
Corp
10.75%,
11/30/2029
1,497‌
1,627‌
Paramount
Global
4.95%,
01/15/2031
60‌
56‌
7.88%,
07/30/2030
53‌
56‌
Time
Warner
Cable
LLC
6.55%,
05/01/2037
30‌
30‌
$
3,137‌
Mining
-
0.63%
Glencore
Funding
LLC
6.50%,
10/06/2033
(i)
412‌
447‌
Ivanhoe
Mines
Ltd
7.88%,
01/23/2030
(i)
975‌
979‌
Vedanta
Resources
Finance
II
PLC
9.48%,
07/24/2030
(i)
475‌
509‌
10.88%,
09/17/2029
400‌
426‌
WE
Soda
Investments
Holding
PLC
9.38%,
02/14/2031
450‌
437‌
9.50%,
10/06/2028
200‌
201‌
9.50%,
10/06/2028
(i)
525‌
527‌
$
3,526‌
Miscellaneous
Manufacturers
-
0.03%
Axon
Enterprise
Inc
6.13%,
03/15/2030
(i)
25‌
25‌
Textron
Financial
Corp
5.65%,
02/15/2067
(i)
170‌
154‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.00%
$
179‌
Mortgage
Backed
Securities
-
0.41%
Alternative
Loan
Trust
2003-22CB
5.75%,
12/25/2033
30‌
31‌
Alternative
Loan
Trust
2004-16CB
5.50%,
07/25/2034
17‌
17‌
5.50%,
08/25/2034
13‌
13‌
Alternative
Loan
Trust
2004-J10
6.00%,
09/25/2034
12‌
13‌
Arixa
Mortgage
Trust
2026-RTL1
6.05%,
05/25/2031
(i),(n)
100‌
100‌
Banc
of
America
Alternative
Loan
Trust
2003-8
5.50%,
10/25/2033
18‌
18‌
Banc
of
America
Funding
2005-7
Trust
5.75%,
11/25/2035
15‌
15‌
Banc
of
America
Funding
2007-4
Trust
5.50%,
11/25/2034
17‌
15‌
Banc
of
America
Mortgage
2005-A
Trust
4.75%,
02/25/2035
(n)
6‌
6‌
BINOM
Securitization
Trust
2022-RPL1
3.00%,
02/25/2061
(i),(n)
140‌
115‌
CAFL
2026-R1
Issuer
LLC
6.77%,
03/25/2036
(i),(n)
100‌
100‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
76
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Mortgage
Backed
Securities
(continued)
CHL
Mortgage
Pass-Through
Trust
2004-HYB4
4.98%,
09/20/2034
(n)
$
8‌
$
8‌
CSFB
Mortgage-Backed
Pass-Through
Certificates
Series
2003-27
5.75%,
11/25/2033
17‌
17‌
DSLA
Mortgage
Loan
Trust
2005-AR5
4.39%,
09/19/2045
83‌
43‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
0.77%
GITSIT
Mortgage
Loan
Trust
2025-NPL2
5.42%,
12/25/2055
(i),(n)
87‌
86‌
GSR
Mortgage
Loan
Trust
2005-4F
6.50%,
02/25/2035
22‌
22‌
IndyMac
INDX
Mortgage
Loan
Trust
2004-AR7
4.92%,
09/25/2034
58‌
47‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.33%
IndyMac
INDX
Mortgage
Loan
Trust
2005-AR11
3.64%,
08/25/2035
(n)
259‌
185‌
Lehman
XS
Trust
Series
2006-2N
4.22%,
02/25/2046
43‌
39‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
0.63%
MASTR
Alternative
Loan
Trust
2003-9
5.25%,
11/25/2033
10‌
10‌
MASTR
Alternative
Loan
Trust
2004-5
5.50%,
06/25/2034
7‌
7‌
6.00%,
06/25/2034
8‌
8‌
MASTR
Alternative
Loan
Trust
2004-8
6.00%,
09/25/2034
55‌
55‌
Merrill
Lynch
Mortgage
Investors
Trust
Series
MLCC
2006-2
5.37%,
05/25/2036
(n)
1‌
1‌
MFA
2024-NPL1
Trust
6.33%,
09/25/2054
(i),(n)
80‌
80‌
NLT
2023-1
Trust
3.20%,
10/25/2062
(i),(n)
90‌
82‌
PRET
2025-NPL8
LLC
5.73%,
08/25/2055
(i),(n)
108‌
108‌
PRET
2026-NPL2
LLC
5.15%,
02/25/2056
(i),(n)
94‌
94‌
PRPM
2025-2
LLC
9.56%,
05/25/2030
(i),(n)
100‌
100‌
PRPM
2025-8
LLC
5.39%,
10/25/2030
(i),(n)
89‌
89‌
PRPM
2026-1
LLC
5.19%,
02/25/2031
(i),(n)
95‌
94‌
RCO
IX
Mortgage
LLC
2025-4
5.31%,
10/25/2030
(i),(n)
110‌
110‌
RCO
IX
Mortgage
LLC
2026-2
5.76%,
05/25/2031
(i),(n)
110‌
110‌
RCO
X
Mortgage
LLC
2026-1
5.54%,
03/25/2031
(i),(n)
96‌
96‌
Structured
Adjustable
Rate
Mortgage
Loan
Trust
4.01%,
07/25/2035
297‌
170‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
0.42%
Toorak
Mortgage
Trust
2024-RRTL1
6.60%,
02/25/2039
(i),(n)
142‌
142‌
VCAT
2025-NPL3
LLC
5.89%,
02/25/2055
(i),(n)
81‌
81‌
$
2,327‌
Oil
&
Gas
-
1.68%
Azule
Energy
Finance
Plc
8.13%,
01/23/2030
(i)
575‌
587‌
8.25%,
01/22/2031
(i)
400‌
408‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Oil
&
Gas
(continued)
Chord
Energy
Corp
6.00%,
10/01/2030
(i)
$
76‌
$
77‌
6.75%,
03/15/2033
(i)
7‌
7‌
Continental
Resources
Inc/OK
2.88%,
04/01/2032
(i)
135‌
119‌
5.75%,
01/15/2031
(i)
320‌
327‌
Energean
Israel
Finance
Ltd
5.38%,
03/30/2028
(i)
500‌
494‌
5.38%,
03/30/2028
(i)
92‌
91‌
Energean
PLC
5.63%,
05/12/2031
(i)
EUR
225‌
259‌
Helmerich
&
Payne
Inc
5.50%,
12/01/2034
$
85‌
84‌
Kosmos
Energy
Ltd
7.50%,
03/01/2028
400‌
391‌
Leviathan
Bond
Ltd
6.50%,
06/30/2027
(i)
675‌
677‌
6.50%,
06/30/2027
(i)
25‌
25‌
OGX
Austria
GmbH
0.00%,
06/01/2018
(d),(i)
600‌
—‌
0.00%,
04/01/2022
(d),(g)
1,100‌
—‌
Petroleos
de
Venezuela
SA
0.00%,
05/16/2024
(d),(i)
175‌
69‌
0.00%,
05/16/2024
(d)
3,470‌
1,371‌
0.00%,
11/15/2026
(d)
550‌
216‌
Petroleos
Mexicanos
5.95%,
01/28/2031
400‌
395‌
6.70%,
02/16/2032
800‌
806‌
6.84%,
01/23/2030
765‌
786‌
Puma
International
Financing
SA
7.75%,
04/25/2029
(i)
525‌
541‌
SM
Energy
Co
6.75%,
08/01/2029
(i)
68‌
70‌
Sonangol
Finance
Ltd
10.00%,
01/29/2031
(i)
825‌
848‌
Sunoco
LP
5.38%,
07/15/2031
(i)
4‌
4‌
5.63%,
03/15/2031
(i)
17‌
17‌
Tengizchevroil
Finance
Co
International
Ltd
4.00%,
08/15/2026
100‌
100‌
Uzbekneftegaz
JSC
8.75%,
05/07/2030
(i)
475‌
512‌
Viper
Energy
Partners
LLC
5.70%,
08/01/2035
129‌
132‌
$
9,413‌
Oil
&
Gas
Services
-
0.08%
Yinson
Boronia
Production
BV
8.95%,
07/31/2042
389‌
426‌
Other
Asset
Backed
Securities
-
1.38%
37
Capital
Clo
4
Ltd
5.47%,
04/15/2035
(i)
255‌
254‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.80%
Accelerated
Assets
2018-1
LLC
4.51%,
12/02/2033
(i)
13‌
13‌
AIM
Aviation
Finance
Ltd
5.07%,
02/15/2040
(i),(n)
675‌
554‌
Applebee's
Funding
LLC
/
IHOP
Funding
LLC
6.72%,
06/07/2055
(i)
220‌
220‌
7.82%,
03/05/2053
(i)
150‌
151‌
Bain
Capital
Credit
CLO
2020-1
Ltd
5.48%,
04/18/2033
(i)
145‌
145‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.80%
BHG
Securitization
Trust
2023-B
7.45%,
12/17/2036
(i)
58‌
60‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
77
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Other
Asset
Backed
Securities
(continued)
Carval
Clo
X-C
Ltd
5.48%,
07/20/2037
(i)
$
260‌
$
260‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.80%
CLIF
Holdings
LLC
6.72%,
12/20/2050
(i)
164‌
163‌
Clsec
Holdings
22t
LLC
6.17%,
05/11/2037
(i)
49‌
48‌
Compass
Datacenters
Issuer
III
LLC
5.29%,
07/25/2050
(i)
65‌
64‌
5.66%,
02/25/2050
(i)
65‌
65‌
DataBank
Issuer
II
LLC
5.18%,
09/27/2055
(i)
65‌
64‌
EDI
ABS
Issuer
1
LLC
4.45%,
07/25/2055
(i)
65‌
62‌
Foundation
Finance
Trust
2025-1
5.26%,
04/15/2050
(i)
86‌
87‌
6.09%,
04/15/2050
(i)
86‌
87‌
Global
SC
Finance
X
Ltd
7.85%,
09/20/2045
(i)
103‌
102‌
Golub
Capital
Partners
CLO
74
B
Ltd
5.52%,
07/25/2037
(i)
250‌
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.85%
Golub
Capital
Partners
CLO
75B
Ltd
5.62%,
07/25/2037
(i)
260‌
260‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.95%
GoodLeap
Home
Improvement
Solutions
Trust
2024-1
6.38%,
10/20/2046
(i)
76‌
77‌
Kapitus
Asset
Securitization
IV
LLC
5.49%,
09/10/2031
(i)
100‌
100‌
Labrador
Aviation
Finance
Ltd
2016-1A
4.30%,
01/15/2042
(i)
73‌
77‌
Lightpath
Fiber
Issuer
LLC
5.60%,
03/25/2056
(i)
70‌
70‌
Madison
Park
Funding
LIII
Ltd
5.42%,
04/21/2035
(i)
250‌
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.75%
Madison
Park
Funding
LIX
Ltd
5.93%,
04/18/2037
(i)
260‌
260‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.25%
Marlette
Funding
Trust
2023-4
8.15%,
12/15/2033
(i)
100‌
102‌
OCP
Clo
2019-17
Ltd
5.68%,
07/20/2037
(i)
250‌
251‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.00%
OHA
Credit
Partners
XI
Ltd
5.32%,
07/20/2039
(i)
250‌
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.70%
OHA
Loan
Funding
2013-1
Ltd
6.02%,
04/23/2037
(i)
250‌
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.35%
OnDeck
Asset
Securitization
Trust
IV
LLC
8.99%,
06/17/2031
(i)
100‌
102‌
OWN
Equipment
Fund
I
LLC
5.70%,
12/20/2032
(i)
75‌
75‌
OWN
Equipment
Fund
III
LLC
6.49%,
03/27/2034
(i)
94‌
95‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Other
Asset
Backed
Securities
(continued)
Palmer
Square
BDC
CLO
1
Ltd
5.82%,
07/15/2037
(i)
$
250‌
$
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.15%
Palmer
Square
CLO
2024-2
LTD
5.33%,
07/20/2037
(i)
250‌
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.65%
Planet
Fitness
Master
Issuer
LLC
3.86%,
12/05/2049
(i)
258‌
247‌
5.27%,
12/06/2055
(i)
50‌
50‌
QTS
Issuer
ABS
II
LLC
5.78%,
10/05/2055
(i)
55‌
53‌
7.20%,
03/06/2056
(i)
145‌
144‌
Regional
Management
Issuance
Trust
2025-2
5.36%,
11/16/2037
(i)
140‌
139‌
Rockford
Tower
2024-2
Ltd
5.53%,
10/20/2037
(i)
250‌
251‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.85%
Rockford
Tower
CLO
2018-1
Ltd
5.00%,
05/20/2031
(i)
5‌
5‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.36%
SEB
Funding
LLC
7.39%,
04/30/2054
(i)
70‌
71‌
SF
Abs
Issuer
LLC
5.87%,
11/25/2055
(i)
185‌
180‌
Shentel
Issuer
LLC
5.64%,
12/20/2055
(i)
90‌
91‌
Sixth
Street
CLO
XV
Ltd
5.67%,
10/24/2037
(i)
250‌
251‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.00%
Sixth
Street
CLO
XXV
Ltd
5.47%,
07/24/2037
(i)
250‌
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.80%
Subway
Funding
LLC
6.03%,
07/30/2054
(i)
212‌
213‌
Sunnova
Helios
XIII
Issuer
LLC
5.30%,
02/20/2051
(i)
83‌
72‌
Sunrun
Athena
Issuer
2018-1
LLC
5.31%,
04/30/2049
(i)
72‌
70‌
Sunrun
Demeter
Issuer
2021-2
LLC
2.27%,
01/30/2057
(i)
76‌
70‌
Wellfleet
CLO
2024-1
Ltd
5.73%,
07/18/2037
(i)
250‌
250‌
1.00
x
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.05%
$
7,775‌
Packaging
&
Containers
-
0.18%
Ball
Corp
5.50%,
09/15/2033
181‌
182‌
Mauser
Packaging
Solutions
Holding
Co
9.25%,
04/15/2030
(i)
858‌
822‌
$
1,004‌
Pharmaceuticals
-
0.37%
AbbVie
Inc
3.78%,
03/03/2028
315‌
312‌
Bausch
Health
Cos
Inc
4.88%,
06/01/2028
(i)
105‌
97‌
Organon
&
Co
/
Organon
Foreign
Debt
Co-Issuer
BV
5.13%,
04/30/2031
(i)
652‌
646‌
Teva
Pharmaceutical
Finance
Co
LLC
6.15%,
02/01/2036
137‌
145‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
78
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Pharmaceuticals
(continued)
Teva
Pharmaceutical
Finance
Netherlands
II
BV
4.38%,
05/09/2030
EUR
120‌
$
142‌
7.38%,
09/15/2029
110‌
142‌
7.88%,
09/15/2031
100‌
137‌
Teva
Pharmaceutical
Finance
Netherlands
III
BV
4.10%,
10/01/2046
$
634‌
483‌
$
2,104‌
Pipelines
-
0.37%
Acu
Petroleo
Luxembourg
Sarl
7.50%,
07/13/2035
443‌
455‌
Golar
LNG
Ltd
7.50%,
10/02/2030
(i)
375‌
383‌
NGPL
PipeCo
LLC
5.60%,
08/15/2036
(i),(m)
32‌
32‌
Targa
Resources
Corp
5.55%,
08/15/2035
115‌
117‌
6.13%,
03/15/2033
65‌
69‌
6.50%,
03/30/2034
187‌
203‌
Transportadora
de
Gas
del
Sur
SA
8.50%,
07/24/2031
125‌
133‌
Venture
Global
Plaquemines
LNG
LLC
6.13%,
12/15/2030
(i)
23‌
23‌
6.50%,
01/15/2034
(i)
168‌
176‌
6.50%,
06/15/2034
(i)
43‌
45‌
7.50%,
05/01/2033
(i)
190‌
210‌
7.75%,
05/01/2035
(i)
56‌
63‌
Western
Midstream
Operating
LP
5.50%,
12/15/2035
34‌
34‌
6.15%,
04/01/2033
135‌
142‌
$
2,085‌
Real
Estate
-
0.41%
Aldar
Properties
PJSC
5.88%,
04/14/2056
(i),(k)
800‌
750‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.02%
5.88%,
04/14/2056
(k)
200‌
188‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.02%
Kaisa
Group
Holdings
Ltd
5.25%,
PIK
6.25%;
12/28/2028
(i),(n),(o)
57‌
1‌
5.50%,
PIK
6.00%;
12/28/2027
(i),(n),(o)
39‌
1‌
5.50%,
PIK
6.50%;
12/28/2029
(i),(n),(o)
95‌
2‌
5.75%,
PIK
6.75%;
12/28/2030
(i),(n),(o)
115‌
2‌
6.00%,
PIK
7.00%;
12/28/2031
(i),(n),(o)
173‌
2‌
6.25%,
PIK
7.25%;
12/28/2032
(i),(n),(o)
163‌
2‌
Kennedy-Wilson
Inc
5.00%,
03/01/2031
813‌
820‌
Mobiliare
Latam
SA
/
Mobiliare
Latam
Mexico
SA
de
CV
6.75%,
11/10/2032
(i)
350‌
350‌
6.75%,
11/10/2032
200‌
200‌
$
2,318‌
Regional
Authority
-
0.24%
Province
of
Santa
Fe
8.10%,
12/11/2034
(i)
375‌
369‌
Provincia
de
Buenos
Aires/Government
Bonds
6.63%,
09/01/2037
(n)
689‌
554‌
Provincia
de
Cordoba
8.60%,
02/03/2035
(i)
450‌
436‌
$
1,359‌
REITs
-
0.16%
Apollo
Commercial
Real
Estate
Finance
Inc
4.63%,
06/15/2029
(i)
678‌
678‌
Emirates
Reit
Sukuk
III
Ltd
7.50%,
12/12/2028
(n)
200‌
199‌
$
877‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Retail
-
0.09%
1011778
BC
ULC
/
New
Red
Finance
Inc
3.88%,
01/15/2028
(i)
$
5‌
$
5‌
4.00%,
10/15/2030
(i)
325‌
308‌
Global
Auto
Holdings
Ltd/AAG
FH
UK
Ltd
11.50%,
08/15/2029
(i)
200‌
207‌
$
520‌
Semiconductors
-
0.05%
Broadcom
Inc
3.14%,
11/15/2035
(i)
225‌
192‌
Entegris
Inc
4.75%,
04/15/2029
(i)
61‌
60‌
Intel
Corp
5.30%,
05/15/2036
20‌
20‌
$
272‌
Software
-
0.25%
Fair
Isaac
Corp
6.00%,
05/15/2033
(i)
198‌
196‌
MSCI
Inc
5.25%,
09/01/2035
61‌
60‌
OAK-Eagle
Acquireco
Inc
7.25%,
07/01/2033
(i)
33‌
34‌
Open
Text
Corp
3.88%,
02/15/2028
(i)
9‌
9‌
3.88%,
12/01/2029
(i)
80‌
74‌
6.90%,
12/01/2027
(i)
4‌
4‌
Open
Text
Holdings
Inc
4.13%,
02/15/2030
(i)
3‌
3‌
Oracle
Corp
3.95%,
03/25/2051
5‌
3‌
5.20%,
09/26/2035
245‌
233‌
5.70%,
02/04/2036
57‌
56‌
5.95%,
09/26/2055
134‌
117‌
6.00%,
08/03/2055
10‌
9‌
6.70%,
02/04/2056
125‌
120‌
6.85%,
02/04/2066
133‌
127‌
Salesforce
Inc
5.55%,
03/15/2036
218‌
220‌
Synopsys
Inc
5.15%,
04/01/2035
44‌
44‌
5.70%,
04/01/2055
95‌
93‌
$
1,402‌
Sovereign
-
11.91%
Angolan
Government
International
Bond
8.00%,
11/26/2029
400‌
408‌
9.38%,
03/31/2033
(i)
550‌
575‌
Argentine
Republic
Government
International
Bond
0.75%,
07/09/2030
(n)
846‌
737‌
4.12%,
07/09/2035
(n)
275‌
212‌
Benin
Sukuk
SA
6.20%,
01/29/2033
200‌
194‌
Brazil
Notas
do
Tesouro
Nacional
Serie
F
9.76%,
01/01/2027
BRL
4,283‌
831‌
9.76%,
01/01/2031
2,906‌
504‌
9.76%,
01/01/2033
5,250‌
870‌
9.76%,
01/01/2035
5,535‌
888‌
Brazilian
Government
International
Bond
4.88%,
04/23/2033
EUR
300‌
350‌
5.50%,
04/23/2036
300‌
354‌
Chile
Government
International
Bond
2.75%,
01/31/2027
$
275‌
272‌
3.10%,
01/22/2061
402‌
249‌
3.24%,
02/06/2028
1,175‌
1,153‌
3.25%,
09/21/2071
200‌
125‌
Colombia
Government
International
Bond
7.38%,
09/18/2037
101‌
102‌
Colombian
TES
11.00%,
08/22/2029
COP
3,355,900‌
834‌
13.25%,
02/09/2033
4,470,100‌
1,171‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
79
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Sovereign
(continued)
Czech
Republic
Government
Bond
3.60%,
06/03/2036
CZK
41,600‌
$
1,813‌
Eagle
Funding
Luxco
Sarl
5.50%,
08/17/2030
$
1,175‌
1,182‌
Ecuador
Government
International
Bond
0.00%,
07/31/2030
(d)
473‌
408‌
6.90%,
07/31/2035
(n)
346‌
317‌
8.75%,
01/29/2034
(i)
275‌
279‌
Egypt
Government
Bond
22.42%,
01/06/2028
EGP
11,700‌
221‌
24.46%,
10/01/2027
17,300‌
325‌
25.32%,
08/13/2027
16,000‌
306‌
Egypt
Government
International
Bond
5.80%,
09/30/2027
$
200‌
201‌
Egypt
Treasury
Bills
20.25%,
10/27/2026
(p)
EGP
14,500‌
253‌
21.07%,
09/08/2026
(p)
10,500‌
189‌
21.32%,
08/25/2026
(p)
9,300‌
169‌
Ghana
Government
International
Bond
0.00%,
01/03/2030
(d),(i)
$
283‌
255‌
0.00%,
01/03/2030
(d)
470‌
423‌
5.00%,
07/03/2029
(i),(n)
678‌
671‌
5.00%,
07/03/2029
66‌
65‌
Hungary
Government
Bond
3.00%,
08/21/2030
HUF
33,170‌
100‌
3.25%,
10/22/2031
47,330‌
141‌
4.50%,
03/23/2028
454,350‌
1,477‌
7.00%,
10/24/2035
329,600‌
1,213‌
Japan
Treasury
Discount
Bill
0.76%,
07/10/2026
(p)
JPY
674,500‌
4,231‌
0.79%,
07/06/2026
(p)
200,000‌
1,255‌
0.83%,
07/21/2026
(p)
1,930,000‌
12,104‌
0.91%,
10/20/2026
(p)
310,000‌
1,940‌
0.94%,
12/21/2026
(p)
751,000‌
4,690‌
0.99%,
02/22/2027
(p)
310,000‌
1,932‌
Kyrgyz
Republic
International
Bond
7.75%,
06/03/2030
(i)
$
200‌
204‌
Malaysia
Government
Bond
3.48%,
07/02/2035
MYR
195‌
49‌
3.52%,
04/20/2028
349‌
89‌
3.58%,
07/15/2032
5,300‌
1,342‌
4.05%,
04/18/2039
1,517‌
392‌
Mexican
Bonos
8.00%,
07/31/2053
MXN
6,190‌
300‌
8.50%,
11/18/2038
23,500‌
1,265‌
Mexican
Udibonos
2.75%,
11/27/2031
7,564‌
400‌
4.00%,
08/24/2034
5,729‌
319‌
Mexico
Government
International
Bond
3.75%,
01/11/2028
$
575‌
566‌
6.13%,
02/09/2038
200‌
196‌
Nigeria
Government
International
Bond
6.13%,
09/28/2028
250‌
253‌
6.50%,
11/28/2027
400‌
404‌
7.14%,
02/23/2030
600‌
619‌
8.63%,
01/13/2036
200‌
221‌
Pakistan
Government
International
Bond
6.88%,
12/05/2027
200‌
200‌
Peru
Government
Bond
7.60%,
08/12/2039
(i)
PEN
1,250‌
385‌
Peruvian
Government
International
Bond
6.85%,
08/12/2035
(i)
3,925‌
1,196‌
6.90%,
08/12/2037
3,630‌
1,076‌
Republic
of
Cameroon
International
Bond
8.88%,
01/30/2033
$
475‌
477‌
Republic
of
Poland
Government
Bond
2.00%,
08/25/2036
PLN
5,430‌
1,341‌
5.00%,
10/25/2035
2,400‌
635‌
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Sovereign
(continued)
Republic
of
Poland
Government
International
Bond
5.50%,
03/18/2054
$
192‌
$
178‌
Republic
of
South
Africa
Government
Bond
8.50%,
01/31/2037
ZAR
10,200‌
619‌
8.75%,
01/31/2044
5,800‌
347‌
9.00%,
01/31/2040
3,151‌
195‌
9.88%,
03/31/2039
4,000‌
262‌
Republic
of
Uzbekistan
International
Bond
3.70%,
11/25/2030
$
200‌
187‌
3.90%,
10/19/2031
230‌
214‌
Romania
Government
Bond
6.70%,
02/25/2032
RON
3,750‌
828‌
6.85%,
07/29/2030
5,450‌
1,219‌
Romanian
Government
International
Bond
5.63%,
05/30/2037
EUR
675‌
774‌
6.13%,
10/07/2037
150‌
177‌
Turkiye
Government
Bond
36.10%,
08/12/2026
TRY
8,430‌
182‌
36.88%,
10/13/2027
5,265‌
110‌
Ukraine
Government
International
Bond
4.00%,
02/01/2032
(i),(n)
$
344‌
281‌
4.00%,
02/01/2032
(n)
765‌
626‌
4.50%,
02/01/2034
(i),(n)
169‌
116‌
4.50%,
02/01/2034
(n)
1,241‌
849‌
Uruguay
Government
International
Bond
8.00%,
10/29/2035
UYU
3,344‌
85‌
8.50%,
03/15/2028
2,722‌
70‌
9.75%,
07/20/2033
3,375‌
94‌
Venezuela
Government
International
Bond
0.00%,
05/07/2023
(d)
$
1,400‌
686‌
Zambia
Government
International
Bond
5.75%,
06/30/2033
(n)
884‌
877‌
$
66,894‌
Student
Loan
Asset
Backed
Securities
-
0.16%
College
Ave
Student
Loans
2021-A
LLC
4.12%,
07/25/2051
(i)
39‌
37‌
Navient
Private
Education
Refi
Loan
Trust
2018-A
3.68%,
02/18/2042
(i)
43‌
42‌
Navient
Private
Education
Refi
Loan
Trust
2018-C
4.22%,
06/16/2042
(i)
198‌
194‌
Navient
Private
Education
Refi
Loan
Trust
2020-F
2.69%,
07/15/2069
(i)
100‌
86‌
Nelnet
Student
Loan
Trust
2021-D
2.90%,
04/20/2062
(i)
100‌
90‌
SLM
Private
Credit
Student
Loan
Trust
2003-A
6.33%,
06/15/2032
50‌
50‌
1.00
x
US
28
Day
Auction
Rate
+
0.00%
SLM
Private
Credit
Student
Loan
Trust
2003-B
6.35%,
03/15/2033
150‌
150‌
1.00
x
US
28
Day
Auction
Rate
+
0.00%
SMB
Private
Education
Loan
Trust
2018-C
4.00%,
11/17/2042
(i)
100‌
98‌
SoFi
Professional
Loan
Program
2020-ATrust
3.12%,
05/15/2046
(i)
160‌
144‌
$
891‌
Supranational
Bank
-
0.20%
Africa
Finance
Corp
7.50%,
01/21/2030
(i),(j),(k)
450‌
455‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.02%
Banque
Ouest
Africaine
de
Developpement
5.00%,
07/27/2027
600‌
597‌
International
Bank
for
Reconstruction
&
Development
14.75%,
07/14/2027
KZT
10,000‌
20‌
International
Finance
Corp
14.75%,
11/19/2027
30,000‌
61‌
$
1,133‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
80
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Telecommunications
-
0.80%
AT&T
Inc
5.13%,
04/30/2036
$
93‌
$
92‌
Axian
Telecom
Holding
&
Management
PLC
7.25%,
07/11/2030
(i)
275‌
278‌
7.25%,
07/11/2030
200‌
202‌
DB
Terra
Chile
HoldCo
SpA
7.95%,
04/20/2031
(i)
275‌
273‌
Digicel
International
Finance
Ltd
/
Difl
US
LLC
8.63%,
08/01/2032
(i)
700‌
726‌
Flash
Compute
LLC
7.25%,
12/31/2030
(i)
111‌
114‌
HUT
8
DC
LLC
6.19%,
11/15/2042
(i)
59‌
60‌
Telecom
Argentina
SA
9.50%,
07/18/2031
150‌
161‌
Telecommunications
co
Telekom
Srbija
AD
Belgrade
7.00%,
10/28/2029
(i)
250‌
251‌
7.25%,
05/18/2031
(i)
250‌
250‌
T-Mobile
USA
Inc
5.00%,
02/15/2036
217‌
214‌
Veon
Midco
BV
3.38%,
11/25/2027
850‌
836‌
6.95%,
06/01/2031
(i),(m)
525‌
525‌
7.45%,
06/01/2033
(i),(m)
525‌
525‌
$
4,507‌
Transportation
-
0.28%
Transnet/South
Africa
8.25%,
02/06/2028
900‌
939‌
Yinson
Bergenia
Production
BV
8.50%,
01/31/2045
(i)
197‌
210‌
8.50%,
01/31/2045
395‌
419‌
$
1,568‌
TOTAL
BONDS
$
151,776‌
CONVERTIBLE
BONDS
-
0.17%
Principal
Amount
(000's)
Value
(000's)
Biotechnology
-
0.01%
Arrowhead
Pharmaceuticals
Inc
0.00%,
01/15/2032
(d)
$
13‌
$
15‌
Halozyme
Therapeutics
Inc
0.88%,
11/15/2032
(i)
13‌
13‌
Ligand
Pharmaceuticals
Inc
0.75%,
10/01/2030
(i)
16‌
22‌
$
50‌
Computers
-
0.01%
Lumentum
Holdings
Inc
0.38%,
03/15/2032
(i)
5‌
23‌
Rubrik
Inc
0.00%,
06/15/2030
(d),(i)
24‌
24‌
Seagate
HDD
Cayman
3.50%,
06/01/2028
3‌
32‌
$
79‌
Consumer
Products
-
0.00%
Spectrum
Brands
Inc
3.38%,
06/01/2029
14‌
14‌
Electric
-
0.01%
Evergy
Inc
4.50%,
12/15/2027
17‌
23‌
FirstEnergy
Corp
3.88%,
01/15/2031
(i)
27‌
30‌
Pinnacle
West
Capital
Corp
4.75%,
06/15/2027
16‌
18‌
$
71‌
Electronics
-
0.01%
Advanced
Energy
Industries
Inc
0.00%,
05/15/2031
(d),(i)
7‌
7‌
2.50%,
09/15/2028
6‌
13‌
CONVERTIBLE
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electronics
(continued)
Avnet
Inc
1.75%,
09/01/2030
(i)
$
8‌
$
11‌
Itron
Inc
1.38%,
07/15/2030
11‌
11‌
$
42‌
Engineering
&
Construction
-
0.00%
Fluor
Corp
1.13%,
08/15/2029
12‌
15‌
Environmental
Control
-
0.00%
Tetra
Tech
Inc
2.25%,
08/15/2028
11‌
11‌
Food
-
0.00%
Post
Holdings
Inc
2.50%,
08/15/2027
13‌
14‌
Gas
-
0.00%
UGI
Corp
5.00%,
06/01/2028
12‌
16‌
Internet
-
0.01%
DoorDash
Inc
0.00%,
05/15/2030
(d),(i)
23‌
22‌
Lyft
Inc
0.00%,
09/15/2030
(d),(i)
18‌
17‌
Uber
Technologies
Inc
0.88%,
12/01/2028
18‌
21‌
$
60‌
Investment
Companies
-
0.00%
IREN
Ltd
1.00%,
06/01/2033
(i)
8‌
11‌
Leisure
Products
&
Services
-
0.00%
NCL
Corp
Ltd
0.88%,
04/15/2030
17‌
18‌
Machinery
-
Construction
&
Mining
-
0.01%
Bloom
Energy
Corp
0.00%,
11/15/2030
(d),(i)
13‌
23‌
Media
-
0.02%
EchoStar
Corp
3.88%,
PIK
3.88%;
11/30/2030
(n),(o)
33‌
129‌
Mining
-
0.01%
B2Gold
Corp
2.75%,
02/01/2030
(i)
16‌
26‌
Oil
&
Gas
-
0.02%
Kosmos
Energy
Ltd
3.13%,
03/15/2030
100‌
81‌
Pharmaceuticals
-
0.01%
Indivior
Pharmaceuticals
Inc
0.63%,
03/15/2031
(i)
12‌
14‌
Zoetis
Inc
0.25%,
06/15/2029
(i)
10‌
9‌
$
23‌
Real
Estate
-
0.01%
Compass
Inc
0.25%,
04/15/2031
(i)
18‌
17‌
Kaisa
Group
Holdings
Ltd
0.00%,
12/31/2026
(d),(i)
34‌
—‌
0.00%,
12/31/2027
(d),(i)
42‌
—‌
0.00%,
12/31/2028
(d),(i)
68‌
—‌
0.00%,
12/31/2029
(d),(i)
68‌
—‌
0.00%,
12/31/2030
(d),(i)
85‌
—‌
0.00%,
12/31/2031
(d),(i)
85‌
—‌
0.00%,
12/31/2032
(d),(i)
160‌
—‌
Sunac
China
Holdings
Ltd
0.00%,
06/23/2026
(d),(i)
100‌
14‌
0.00%,
06/23/2028
(d),(i)
74‌
16‌
$
47‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
81
CONVERTIBLE
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
REITs
-
0.00%
Federal
Realty
OP
LP
3.25%,
01/15/2029
(i)
$
10‌
$
11‌
Retail
-
0.01%
Burlington
Stores
Inc
1.25%,
12/15/2027
18‌
29‌
Freshpet
Inc
3.00%,
04/01/2028
6‌
7‌
$
36‌
Semiconductors
-
0.02%
Amkor
Technology
Inc
0.00%,
07/15/2031
(d),(i)
21‌
22‌
Microchip
Technology
Inc
0.00%,
02/15/2030
(d),(i)
16‌
19‌
MKS
Inc
1.25%,
06/01/2030
11‌
24‌
Nova
Ltd
0.00%,
09/15/2030
(d),(i)
14‌
24‌
Onto
Innovation
Inc
0.00%,
06/01/2031
(d),(i)
8‌
8‌
SiTime
Corp
0.00%,
06/15/2031
(d)
8‌
9‌
$
106‌
Software
-
0.01%
Cloudflare
Inc
0.00%,
06/15/2030
(d),(i)
7‌
9‌
Guidewire
Software
Inc
1.25%,
11/01/2029
14‌
14‌
Nutanix
Inc
0.50%,
12/15/2029
16‌
16‌
Snowflake
Inc
0.00%,
10/01/2029
(d)
19‌
33‌
$
72‌
Telecommunications
-
0.00%
InterDigital
Inc
3.50%,
06/01/2027
6‌
19‌
TOTAL
CONVERTIBLE
BONDS
$
974‌
SENIOR
FLOATING
RATE
INTERESTS
-
0.76%
Principal
Amount
(000's)
Value
(000's)
Aerospace
&
Defense
-
0.01%
TransDigm
Inc
;
Term
Loan
N
6.15%,
02/10/2033
29‌
29‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.50%
Automobile
Manufacturers
-
0.01%
Allison
Transmission
Inc
;
Term
Loan
B
5.38%,
11/05/2032
81‌
81‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Automobile
Parts
&
Equipment
-
0.00%
First
Brands
Group
LLC
;
Term
Loan
B
0.00%,
03/30/2027
(d)
15‌
—‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
5.00%
0.00%,
03/30/2027
(d)
22‌
—‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
5.00%
First
Brands
Group
LLC
;
DIP
PIK
Term
Loan
0.00%,
PIK
13.65%;
06/29/2026
(o)
15‌
3‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.55%
0.00%,
PIK
10.65%;
06/29/2026
(o)
43‌
—‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
9.00%
$
3‌
SENIOR
FLOATING
RATE
INTERESTS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Biotechnology
-
0.04%
BioMarin
Pharmaceutical
Inc
;
Term
Loan
B
5.43%,
04/27/2033
$
206‌
$
206‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Chemicals
-
0.02%
Solstice
Advanced
Materials
Inc
;
Term
Loan
B
5.41%,
10/29/2032
93‌
93‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Commercial
Services
-
0.04%
Trans
Union
LLC
;
Term
Loan
B8
5.40%,
06/24/2031
188‌
187‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
United
Rentals
North
America
Inc
;
Term
Loan
B
5.15%,
02/14/2031
25‌
25‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.50%
$
212‌
Computers
-
0.01%
CACI
International
Inc
;
Term
Loan
B2
5.40%,
02/25/2033
63‌
63‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Diversified
Financial
Services
-
0.02%
Edelman
Financial
Engines
Center
LLC/The
;
Term
Loan
7.65%,
11/28/2031
83‌
83‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
4.00%
Electric
-
0.04%
NRG
Energy
Inc
;
Term
Loan
B
5.37%-5.42%,
04/16/2031
241‌
242‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%,
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.75%
Engineering
&
Construction
-
0.02%
Asplundh
Tree
Expert
LLC
;
Term
Loan
B
5.40%,
05/23/2031
125‌
126‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Entertainment
-
0.10%
Discovery
Global
Holdings
Inc
0.00%,
05/27/2033
(q)
337‌
337‌
DraftKings
Crown
Holdings
Inc
5.39%,
03/04/2032
50‌
50‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.75%
Flutter
Financing
BV
;
Term
Loan
B
5.45%,
11/30/2030
88‌
87‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.75%
5.70%,
06/04/2032
99‌
99‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.00%
Light
&
Wonder
International
Inc
;
Term
Loan
B3
5.58%,
04/16/2029
6‌
6‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.00%
$
579‌
Environmental
Control
-
0.01%
Clean
Harbors
Inc
;
Term
Loan
B
5.15%,
09/24/2032
80‌
81‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.50%
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
82
SENIOR
FLOATING
RATE
INTERESTS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Food
Service
-
0.02%
Aramark
Services
Inc
;
Term
Loan
B9
5.40%,
04/06/2028
$
15‌
$
15‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Aramark
Services
Inc
;
Term
Loan
B10
5.40%,
06/22/2030
100‌
101‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
$
116‌
Healthcare
-
Products
-
0.09%
Bausch
+
Lomb
Corp
;
Term
Loan
B
7.40%,
01/15/2031
99‌
100‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
3.75%
Medline
Borrower
LP
;
Term
Loan
B
0.00%,
05/16/2033
(q)
405‌
404‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.50%
$
504‌
Healthcare
-
Services
-
0.03%
DaVita
Inc
;
Term
Loan
B2
5.40%,
05/09/2031
186‌
187‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Insurance
-
0.08%
Amynta
Agency
Borrower
Inc
;
Term
Loan
B
6.15%,
12/29/2031
65‌
64‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.50%
Ardonagh
Group
Finco
Pty
Ltd
;
Term
Loan
B
6.62%-6.70%,
02/15/2031
241‌
237‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.00%,
CME
Term
Secured
Overnight
Financing
Rate
6
Month
+
3.00%
Baldwin
Insurance
Group
Holdings
LLC/The
;
Term
Loan
B2
6.13%,
05/26/2031
4‌
4‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.50%
CRC
Insurance
Group
LLC
;
Term
Loan
B
6.45%,
05/06/2031
46‌
45‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.75%
Lockton
Inc
;
Term
Loan
B
5.66%,
04/22/2033
45‌
45‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.00%
Ryan
Specialty
LLC
;
Term
Loan
B
5.65%,
09/13/2031
28‌
28‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
2.25%
$
423‌
Machinery
-
Construction
&
Mining
-
0.03%
Terex
Corp
;
Term
Loan
5.40%,
10/08/2031
180‌
180‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
Metal
Fabrication
&
Hardware
-
0.02%
Advanced
Drainage
Systems
Inc
;
Term
Loan
B
5.27%,
02/11/2033
118‌
119‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.63%
Mining
-
0.03%
Novelis
Holdings
Inc
;
Term
Loan
B
5.45%,
02/25/2032
154‌
154‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
SENIOR
FLOATING
RATE
INTERESTS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Retail
-
0.04%
PetSmart
LLC
;
Term
Loan
B
7.58%,
08/18/2032
$
69‌
$
68‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
4.00%
Tory
Burch
LLC
;
Term
Loan
B
7.65%,
04/18/2031
135‌
135‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
4.00%
$
203‌
Software
-
0.10%
CoreWeave
Financing
DDTL
V
LLC
;
Delayed
Draw
Term
Loan
DD-CapEx
8.10%,
11/06/2031
11‌
11‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
4.50%
Darktrace
Finco
US
LLC
;
Term
Loan
B
6.93%,
10/09/2031
28‌
27‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.25%
Dayforce
Bidco
LLC
;
Term
Loan
B
6.66%,
02/04/2033
258‌
245‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
3.00%
OAK-Eagle
Acquireco
Inc
;
Term
Loan
B
0.00%,
03/24/2033
(q)
123‌
124‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
3.50%
Open
Text
Corp
;
Term
Loan
B
5.40%,
01/31/2030
151‌
148‌
CME
Term
Secured
Overnight
Financing
Rate
1
Month
+
1.75%
$
555‌
TOTAL
SENIOR
FLOATING
RATE
INTERESTS
$
4,239‌
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
-
6.59%
Principal
Amount
(000's)
Value
(000's)
U.S.
Treasury
-
1.16%
0.63%,
05/15/2030
$
3,895‌
$
3,405‌
4.38%,
07/31/2026
3,098‌
3,101‌
$
6,506‌
U.S.
Treasury
Bill
-
5.43%
3.57%,
08/20/2026
(p)
172‌
171‌
3.59%,
06/04/2026
(p)
1,794‌
1,793‌
3.59%,
08/04/2026
(p),(r)
2,449‌
2,433‌
3.63%,
07/02/2026
(p)
1,056‌
1,053‌
3.63%,
04/15/2027
(p)
12,000‌
11,615‌
3.63%,
05/13/2027
(p),(s)
12,000‌
11,581‌
3.64%,
06/18/2026
(p)
1,866‌
1,863‌
$
30,509‌
TOTAL
U.S.
GOVERNMENT
&
GOVERNMENT
AGENCY
OBLIGATIONS
$
37,015‌
TOTAL
PURCHASED
OPTIONS
-
0.04%
$
235‌
Total
Investments
$
537,979‌
Other
Assets
and
Liabilities
-  4.25%
23,884‌
TOTAL
NET
ASSETS
-
100.00%
$
561,863‌
(a)
All
or
a
portion
of
this
security
is
owned
by
the
GMS
Cayman
Corporation,
which
is
a
wholly-owned
subsidiary
of
the
Fund.
(b)
1-day
yield
shown
is
as
of
period
end.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(d)
Non-income
producing
security
(e)
Security
or
a
portion
of
the
security
was
pledged
to
cover
margin
requirements
for
swap
and/or
swaption
contracts.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$57,723
or
10.27%
of
net
assets.
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
83
(f)
Security
or
a
portion
of
the
security
was
pledged
to
cover
margin
requirements
for
options
contracts.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$11,043
or
1.97%
of
net
assets.
(g)
The
value
of
these
investments
was
determined
using
significant
unobservable
inputs,
in
good
faith
by
the
Manager,
under
procedures
established
and
periodically
reviewed
by
the
Board
of
Directors.
(h)
Restricted
Security.
Please
see
Restricted
Securities
sub-schedule
for
additional
information.
(i)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$55,832
or
9.94%
of
net
assets.
(j)
Perpetual
security.
Perpetual
securities
pay
an
indefinite
stream
of
interest,
but
they
may
be
called
by
the
issuer
at
an
earlier
date.
Date
shown,
if
any,
reflects
the
next
call
date
or
final
legal
maturity
date.
Rate
shown
is
as
of
period
end.
(k)
Rate
shown
is
as
of
period
end.
The
rate
may
be
a
variable
or
floating
rate
or
a
fixed
rate
which
may
convert
to
a
variable
or
floating
rate
in
the
future.
(l)
Security
is
a
contingent
convertible
security,
("CoCo").
CoCo's
are
hybrid
debt
securities
that
may
convert
to
equity
or
have
their
principal
written
down
upon
occurrence
of
certain
"triggers".
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$3,687
or
0.66%
of
net
assets.
(m)
Security
purchased
on
a
when-issued
basis.
(n)
Certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
are
based
on
current
market
conditions.  These
securities
do
not
indicate
a
reference
rate
and
spread
in
their
description.
Rate
shown
is
the
rate
in
effect
as
of
period
end.
(o)
Payment
in
kind;
the
issuer
has
the
option
of
paying
additional
securities
in
lieu
of
cash.
(p)
Rate
shown
is
the
discount
rate
of
the
original
purchase.
(q)
This
Senior
Floating
Rate
Note
will
settle
after
May
31,
2026,
at
which
time
the
interest
rate
will
be
determined.
(r)
Security
or
a
portion
of
the
security
was
pledged
to
cover
margin
requirements
for
futures
contracts.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$1,490
or
0.27%
of
net
assets.
(s)
Security
or
a
portion
of
the
security
was
pledged
as
collateral
for
short
sales.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$5,791
or
1.03%
of
net
assets.
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
76,101‌
$
487,355‌
$
454,147‌
$
109,309‌
$
76,101‌
$
487,355‌
$
454,147‌
$
109,309‌
Income
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
2,616‌
$
—‌
$
—‌
$
—‌
$
2,616‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
Restricted
Securities
Security
Name
Acquisition
Date
Cost
Value
Percent
of
Net
Assets
Element
Comm
Aviation
06/15/2015
$
2,800‌
$
—‌
0.00%
Total
$
—‌
0.00%
Amounts
in
thousands.
Options
Purchased
Options
Outstanding
Counterparty
Contracts/
Shares
Notional
Amount
Exercise
Price
Expiration
Date
Upfront
Premiums
Paid
Fair
Value
Unrealized
Appreciation/
(Depreciation)
Put
-
Aptiv
PLC
N/A
270‌
$
27‌
$
50.00‌
08/21/2026
$
46‌
$
23‌
$
(23‌)
Put
-
Barrick
Mining
Corp
N/A
73‌
7‌
$
38.00‌
07/17/2026
5‌
7‌
2‌
Put
-
Barrick
Mining
Corp
N/A
86‌
9‌
$
33.00‌
06/18/2026
7‌
—‌
(7‌)
Put
-
Barrick
Mining
Corp
N/A
83‌
8‌
$
34.00‌
06/18/2026
2‌
—‌
(2‌)
Put
-
Barrick
Mining
Corp
N/A
75‌
8‌
$
37.00‌
07/17/2026
5‌
6‌
1‌
Put
-
Caesars
Entertainment
Inc
N/A
230‌
23‌
$
20
.00‌
06/18/2026
3‌
—‌
(3‌)
Put
-
Caesars
Entertainment
Inc
N/A
308‌
31‌
$
18.00‌
06/18/2026
10‌
—‌
(10‌)
Put
-
FedEx
Corp
N/A
27‌
3‌
$
320.00‌
07/17/2026
16‌
5‌
(11‌)
Put
-
FedEx
Corp
N/A
9‌
1‌
$
300.00‌
06/18/2026
2‌
—‌
(2‌)
Put
-
Globalstar
Inc
N/A
17‌
2‌
$
70.00‌
06/18/2026
—‌
—‌
—‌
Put
-
Honeywell
International
Inc
N/A
14‌
1‌
$
200.00‌
06/18/2026
3‌
1‌
(2‌)
Put
-
Honeywell
International
Inc
N/A
15‌
2‌
$
190.00‌
06/18/2026
2‌
—‌
(2‌)
Put
-
Honeywell
International
Inc
N/A
76‌
8‌
$
200.00‌
09/18/2026
57‌
31‌
(26‌)
Put
-
Keurig
Dr
Pepper
Inc
N/A
123‌
12‌
$
23.00‌
06/18/2026
5‌
—‌
(5‌)
Put
-
Keurig
Dr
Pepper
Inc
N/A
589‌
59‌
$
24.00‌
06/18/2026
27‌
1‌
(26‌)
Put
-
L3Harris
Technologies
Inc
N/A
20‌
2‌
$
310.00‌
06/18/2026
13‌
13‌
—‌
Put
-
L3Harris
Technologies
Inc
N/A
20‌
2‌
$
290.00‌
07/17/2026
15‌
9‌
(6‌)
Put
-
Siemens
AG
N/A
32‌
EUR
3‌
EUR
225.00‌
06/19/2026
7‌
1‌
(6‌)
Put
-
TopBuild
Corp
N/A
31‌
$
3‌
$
400.00‌
07/17/2026
31‌
117‌
86‌
Put
-
TopBuild
Corp
N/A
13‌
1‌
$
350.00‌
07/17/2026
12‌
21‌
9‌
Total
$
268‌
$
235‌
$
(33‌)
Written
Options
Outstanding
Counterparty
Contracts/
Shares
Notional
Amount
Exercise
Price
Expiration
Date
Upfront
Premiums
Received
Fair
Value
Unrealized
Appreciation/
(Depreciation)
Call
-
AES
Corp/The
N/A
8‌
$
1‌
$
15.00‌
08/21/2026
$
—‌
$
—‌
$
—‌
Call
-
Aptiv
PLC
N/A
270‌
27‌
$
55.00‌
08/21/2026
(153‌)
(406‌)
(253‌)
Call
-
Barrick
Mining
Corp
N/A
75‌
8‌
$
42.00‌
07/17/2026
(38‌)
(25‌)
13‌
Call
-
Barrick
Mining
Corp
N/A
83‌
8‌
$
38.00‌
06/18/2026
(21‌)
(41‌)
(20‌)
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
84
Options
(continued)
Written
Options
Outstanding
Counterparty
Contracts/
Shares
Notional
Amount
Exercise
Price
Expiration
Date
Upfront
Premiums
Received
Fair
Value
Unrealized
Appreciation/
(Depreciation)
Call
-
Barrick
Mining
Corp
N/A
73‌
$
7‌
$
43.00‌
07/17/2026
$
(32‌)
$
(20‌)
$
12‌
Call
-
Barrick
Mining
Corp
N/A
86‌
9‌
$
37.00‌
06/18/2026
(32‌)
(50‌)
(18‌)
Call
-
Bristol-Myers
Squibb
Co
N/A
2‌
—‌
$
65.00‌
06/18/2026
—‌
—‌
—‌
Call
-
Caesars
Entertainment
Inc
N/A
308‌
31‌
$
22.00‌
06/18/2026
(165‌)
(219‌)
(54‌)
Call
-
Caesars
Entertainment
Inc
N/A
24‌
2‌
$
30.00‌
09/18/2026
(1‌)
(1‌)
—‌
Call
-
Caesars
Entertainment
Inc
N/A
103‌
10‌
$
30.00‌
07/17/2026
(2‌)
(1‌)
1‌
Call
-
Caesars
Entertainment
Inc
N/A
230‌
23‌
$
27.00‌
06/18/2026
(79‌)
(49‌)
30‌
Call
-
Chart
Industries
Inc
N/A
6‌
1‌
$
210.00‌
06/18/2026
—‌
(5‌)
(5‌)
Call
-
Comcast
Corp
N/A
4‌
—‌
$
32.50‌
06/18/2026
—‌
—‌
—‌
Call
-
DigitalBridge
Group
Inc
N/A
12‌
1‌
$
16.00‌
06/18/2026
—‌
—‌
—‌
Call
-
Electronic
Arts
Inc
N/A
2‌
—‌
$
210.00‌
06/18/2026
—‌
—‌
—‌
Call
-
FedEx
Corp
N/A
27‌
3‌
$
350.00‌
07/17/2026
(108‌)
(181‌)
(73‌)
Call
-
FedEx
Corp
N/A
9‌
1‌
$
330.00‌
06/18/2026
(32‌)
(75‌)
(43‌)
Call
-
Globalstar
Inc
N/A
17‌
2‌
$
80.00‌
06/18/2026
(3‌)
(7‌)
(
4‌)
Call
-
Honeywell
International
Inc
N/A
15‌
2‌
$
210.00‌
06/18/2026
(18‌)
(44‌)
(26‌)
Call
-
Honeywell
International
Inc
N/A
14‌
1‌
$
230.00‌
06/18/2026
(14‌)
(18‌)
(4‌)
Call
-
Honeywell
International
Inc
N/A
76‌
8‌
$
230.00‌
09/18/2026
(74‌)
(167‌)
(93‌)
Call
-
Keurig
Dr
Pepper
Inc
N/A
123‌
12‌
$
26.00‌
06/18/2026
(28‌)
(51‌)
(23‌)
Call
-
Keurig
Dr
Pepper
Inc
N/A
589‌
59‌
$
27.00‌
06/18/2026
(55‌)
(186‌)
(131‌)
Call
-
Kinross
Gold
Corp
N/A
2‌
—‌
$
41.00‌
06/18/2026
—‌
—‌
—‌
Call
-
L3Harris
Technologies
Inc
N/A
20‌
2‌
$
320.00‌
07/17/2026
(27‌)
(21‌)
6‌
Call
-
L3Harris
Technologies
Inc
N/A
20‌
2‌
$
340.00‌
06/18/2026
(41‌)
(2‌)
39‌
Call
-
Masimo
Corp
N/A
9‌
1‌
$
180.00‌
09/18/2026
—‌
(1‌)
(1‌)
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,750.00‌
06/24/2026
(9‌)
(10‌)
(1‌)
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,740.00‌
06/18/2026
(8‌)
(8‌)
—‌
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,600.00‌
06/15/2026
(9‌)
(20‌)
(11‌)
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,650.00‌
06/08/2026
(7‌)
(7‌)
—‌
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,625.00‌
06/03/2026
(4‌)
(4‌)
—‌
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,580.00‌
06/03/2026
(6‌)
(11‌)
(5‌)
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,690.00‌
06/05/2026
(4‌)
(2‌)
2‌
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,630.00‌
06/01/2026
(3‌)
(1‌)
2‌
Call
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,725.00‌
06/12/2026
(5‌)
(5‌)
—‌
Call
-
Siemens
AG
N/A
32‌
EUR
3‌
EUR
255.00‌
06/19/2026
(65‌)
(72‌)
(7‌)
Call
-
TopBuild
Corp
N/A
31‌
$
3‌
$
440.00‌
07/17/2026
(63‌)
(79‌)
(16‌)
Call
-
US
Bancorp
N/A
1‌
—‌
$
62.50‌
06/18/2026
—‌
—‌
—‌
Call
-
Warner
Bros
Discovery
Inc
N/A
24‌
2‌
$
27.00‌
06/18/2026
(2‌)
(1‌)
1‌
Call
-
Warner
Bros
Discovery
Inc
N/A
98‌
10‌
$
28.00‌
06/18/2026
(2‌)
(1‌)
1‌
Put
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,340.00‌
06/08/2026
(7‌)
(2‌)
5‌
Put
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,050.00‌
06/15/2026
(12‌)
(
1‌)
11‌
Put
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,395.00‌
06/03/2026
(5‌)
(1‌)
4‌
Put
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,250.00‌
06/24/2026
(11‌)
(7‌)
4‌
Put
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,425.00‌
06/12/2026
(7‌)
(7‌)
—‌
Put
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,480.00‌
06/05/2026
(5‌)
(5‌)
—‌
Put
-
S&P
500
Index
Weekly
N/A
3‌
—‌
$
7,235.00‌
06/18/2026
(13‌)
(5‌)
8‌
Put
-
TopBuild
Corp
N/A
13‌
1‌
$
390.00‌
07/17/2026
(28‌)
(42‌)
(14‌)
Total
$
(1,198‌)
$
(1,861‌)
$
(663‌)
Amounts
in
thousands
except
contracts/shares.
Futures
Contracts
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
1
Month
Secured
Overnight
Financing
Rate;
October
2026
Short
4‌
$
1,605‌
$
—‌
3
Month
Secured
Overnight
Financing
Rate;
June
2027
Short
135‌
32,429‌
50‌
3
Month
Secured
Overnight
Financing
Rate;
March
2027
Short
82‌
19,700‌
—‌
3
Month
Sterling
Overnight
Index
Average;
June
2027
Short
2‌
646‌
(3‌)
3
Month
Sterling
Overnight
Index
Average;
March
2027
Short
25‌
8,070‌
(31‌)
ASX
90
Day
Bank
Bill;
December
2026
Short
7‌
4,974‌
10‌
ASX
90
Day
Bank
Bill;
June
2027
Short
4‌
2,843‌
—‌
AUD/USD;
June
2026
Long
25‌
1,795‌
16‌
Australia
10
Year
Bond;
June
2026
Short
54‌
4,232‌
(44‌)
Australia
3
Year
Bond;
June
2026
Short
67‌
5,019‌
(25‌)
Brent
Crude;
August
2026
(a)
Long
11‌
1,002‌
(126‌)
Brent
Crude;
December
2026
(a)
Long
3‌
253‌
(4‌)
Brent
Crude;
October
2026
(a)
Long
2‌
174‌
(13‌)
Brent
Crude;
September
2026
(a)
Long
2‌
178‌
3‌
CAC40
Index;
June
2026
Long
13‌
1,240‌
16‌
Canada
10
Year
Bond;
September
2026
Short
31‌
2,703‌
(19‌)
Canada
10
Year
Bond;
September
2026
Long
16‌
1,395‌
2‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
85
Futures
Contracts
(continued)
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
Canadian
Dollars;
June
2026
Short
2‌
$
145‌
$
1‌
Canola;
July
2026
(a)
Long
20‌
221‌
11‌
Canola;
November
2026
(a)
Long
7‌
79‌
6‌
CHF;
June
2026
Long
1‌
160‌
1‌
CME
Micro
Bitcoin;
June
2026
(a)
Long
1‌
7‌
—‌
CME
Micro
Ether;
June
2026
(a)
Short
9‌
2‌
—‌
Cocoa;
July
2026
(a)
Long
2‌
79‌
4‌
Cocoa;
July
2026
(a)
Short
1‌
40‌
2‌
Cocoa;
September
2026
(a)
Short
4‌
160‌
8‌
Coffee
'C';
July
2026
(a)
Short
4‌
399‌
15‌
Coffee
'C';
September
2026
(a)
Short
1‌
97‌
6‌
Copper;
July
2026
(a)
Short
1‌
160‌
(2‌)
Copper;
September
2026
(a)
Long
1‌
161‌
8‌
Corn;
December
2026
(a)
Long
51‌
1,211‌
(47‌)
Corn;
July
2026
(a)
Long
26‌
581‌
(35‌)
Corn;
July
2026
(a)
Short
6‌
134‌
3‌
Corn;
September
2026
(a)
Long
26‌
593‌
(26‌)
Cotton
No.2;
December
2026
(a)
Long
7‌
279‌
(1‌)
Cotton
No.2;
July
2026
(a)
Long
18‌
685‌
(78‌)
Crude
Palm
Oil;
August
2026
(a)
Short
1‌
29‌
—‌
Crude
Palm
Oil;
July
2026
(a)
Short
3‌
85‌
—‌
Crude
Palm
Oil;
September
2026
(a)
Short
4‌
115‌
—‌
DAX
Index;
June
2026
Long
4‌
2,937‌
58‌
DJ
Euro
Stoxx
50;
June
2026
Long
42‌
2,971‌
69‌
Dollar
Index;
June
2026
Short
8‌
791‌
—‌
Dollar
Index;
June
2026
Long
4‌
395‌
(2‌)
ECX
Emission;
December
2026
(a)
Short
1‌
94‌
(12‌)
E-Mini
Crude
Oil;
July
2026
(a)
Long
1‌
44‌
(6‌)
E-Mini
DJIA
Index;
June
2026
Long
11‌
2,810‌
40‌
eMini
MSCI
EAFE;
June
2026
Long
3‌
467‌
27‌
eMini
MSCI
Emerging
Markets;
June
2026
Long
1‌
87‌
2‌
E-Mini
Natural
Gas;
July
2026
(a)
Short
2‌
16‌
—‌
EUR/GBP;
June
2026
Short
1‌
146‌
—‌
EUR/JPY;
June
2026
Long
2‌
291‌
2‌
EUR/USD;
June
2026
Long
1‌
146‌
(1‌)
Euribor;
June
2027
Short
108‌
30,660‌
(53‌)
Euribor;
June
2028
Short
52‌
14,779‌
(21‌)
Euribor;
June
2029
Short
21‌
5,962‌
(8‌)
Euribor;
March
2027
Short
37‌
10,503‌
12‌
Euro
Bond
10
Year
Bond;
June
2026
Short
25‌
3,689‌
(28‌)
Euro
Buxl
30
Year
Bond;
June
2026
Short
8‌
1,027‌
(6‌)
Euro
E-Mini;
June
2026
Long
1‌
73‌
—‌
Euro
Milling
Wheat;
December
2026
(a)
Short
9‌
113‌
(2‌)
Euro
Milling
Wheat;
March
2027
(a)
Short
1‌
13‌
—‌
Euro
Milling
Wheat;
September
2026
(a)
Short
25‌
302‌
—‌
Euro
Schatz;
June
2026
Short
239‌
29,554‌
(38‌)
Euro
Stoxx
Bank;
June
2026
Long
11‌
176‌
8‌
Euro-
Bobl
5
Year;
June
2026
Short
87‌
11,782‌
(66‌)
Euro-Bobl
5
Year;
June
2026
Long
46‌
6,230‌
59‌
Euro-BTP;
June
2026
Long
4‌
555‌
3‌
Euro-Oat;
June
2026
Short
12‌
1,691‌
(27‌)
Feeder
Cattle;
August
2026
(a)
Long
1‌
174‌
(3‌)
Frozen
Concentrated
Orange
Juice-A;
July
2026
(a)
Short
1‌
24‌
4‌
FTSE
China
A50
Index;
June
2026
Long
48‌
757‌
13‌
FTSE
KLCI
Index;
June
2026
Long
2‌
42‌
—‌
FTSE
Taiwan
Index;
June
2026
Long
3‌
473‌
15‌
FTSE/JSE
Top
40;
June
2026
Long
2‌
132‌
(3‌)
FTSE/MIB
Index;
June
2026
Long
1‌
292‌
30‌
FTSE100
Index;
June
2026
Long
29‌
4,079‌
32‌
Gasoline
RBOB;
August
2026
(a)
Long
1‌
124‌
(18‌)
Gasoline
RBOB;
July
2026
(a)
Long
8‌
1,019‌
(159‌)
Gasoline
RBOB;
October
2026
(a)
Long
2‌
222‌
(23‌)
Gasoline
RBOB;
September
2026
(a)
Short
1‌
121‌
1‌
GBP/USD;
June
2026
Long
1‌
84‌
(1‌)
Gold
100
oz;
August
2026
(a)
Long
5‌
2,296‌
19‌
Gold
100
oz;
December
2026
(a)
Long
1‌
466‌
4‌
Gold;
April
2027
(a)
Short
1‌
149‌
5‌
Gold;
February
2027
(a)
Short
2‌
298‌
10‌
Hang
Seng
Index;
June
2026
Short
4‌
638‌
5‌
HSCEI
China
Index;
June
2026
Short
5‌
267‌
3‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
86
Futures
Contracts
(continued)
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
HSTECH;
June
2026
Long
1‌
$
31‌
$
—‌
IBEX
35
Index;
June
2026
Long
2‌
430‌
9‌
IBEX
Mini
Index;
June
2026
Long
3‌
65‌
3‌
IFSC
Nifty
50;
June
2026
Short
8‌
380‌
1‌
INR/USD
Standard;
June
2026
Short
2‌
105‌
(2‌)
Japan
10
Year
Bond
TSE;
June
2026
Short
16‌
12,949‌
136‌
Japan
Topix
Index;
June
2026
Long
14‌
3,483‌
198‌
Japanese
Yen;
June
2026
Short
1‌
79‌
1‌
KC
HRW
Wheat;
July
2026
(a)
Long
20‌
649‌
(9‌)
KC
HRW
Wheat;
September
2026
(a)
Long
3‌
99‌
(1‌)
Korea
10
Year
Bond;
June
2026
Short
29‌
2,069‌
51‌
Korea
3
Year
Bond;
June
2026
Short
126‌
8,639‌
72‌
Kospi200
Mini;
June
2026
Long
1‌
45‌
4‌
Lean
Hogs;
August
2026
(a)
Short
3‌
118‌
1‌
Lean
Hogs;
July
2026
(a)
Short
3‌
119‌
1‌
Lean
Hogs;
October
2026
(a)
Short
3‌
102‌
1‌
Live
Cattle;
August
2026
(a)
Long
6‌
574‌
(26‌)
Live
Cattle;
December
2026
(a)
Long
7‌
643‌
(18‌)
Live
Cattle;
February
2027
(a)
Long
5‌
461‌
(10‌)
Live
Cattle;
October
2026
(a)
Long
10‌
922‌
(34‌)
LME
Copper;
June
2026
(a)
Short
—‌
—‌
69‌
LME
Copper;
September
2026
(a)
Long
5‌
1,704‌
(28‌)
LME
Lead;
August
2026
(a)
Long
1‌
50‌
—‌
LME
Lead;
August
2026
(a)
Short
10‌
504‌
(15‌)
LME
Lead;
July
2026
(a)
Short
—‌
—‌
(1‌)
LME
Lead;
July
2026
(a)
Short
—‌
—‌
—‌
LME
Lead;
July
2026
(a)
Short
—‌
—‌
(3‌)
LME
Lead;
July
2026
(a)
Short
—‌
—‌
—‌
LME
Lead;
July
2026
(a)
Short
—‌
—‌
—‌
LME
Lead;
July
2026
(a)
Short
—‌
—‌
—‌
LME
Lead;
July
2026
(a)
Short
—‌
—‌
1‌
LME
Lead;
July
2026
(a)
Short
—‌
—‌
1‌
LME
Lead;
July
2026
(a)
Short
—‌
—‌
—‌
LME
Lead;
July
2026
(a)
Short
—‌
—‌
(1‌)
LME
Lead;
June
2026
(a)
Short
—‌
—‌
(5‌)
LME
Lead;
June
2026
(a)
Short
—‌
—‌
(3‌)
LME
Lead;
June
2026
(a)
Short
—‌
—‌
(1‌)
LME
Lead;
June
2026
(a)
Short
—‌
—‌
(2‌)
LME
Nickel;
August
2026
(a)
Long
3‌
343‌
4‌
LME
Nickel;
July
2026
(a)
Short
—‌
—‌
4‌
LME
Nickel;
July
2026
(a)
Short
—‌
—‌
(1‌)
LME
Nickel;
July
2026
(a)
Short
—‌
—‌
7‌
LME
Nickel;
July
2026
(a)
Short
—‌
—‌
3‌
LME
Nickel;
June
2026
(a)
Short
—‌
—‌
6‌
LME
Nickel;
June
2026
(a)
Short
—‌
—‌
1‌
LME
Nickel;
June
2026
(a)
Short
—‌
—‌
2‌
LME
Primary
Alum;
August
2026
(a)
Short
—‌
—‌
(2‌)
LME
Primary
Alum;
August
2026
(a)
Short
—‌
—‌
1‌
LME
Primary
Alum;
August
2026
(a)
Long
1‌
92‌
—‌
LME
Primary
Alum;
August
2026
(a)
Short
—‌
—‌
(4‌)
LME
Primary
Alum;
August
2026
(a)
Short
—‌
—‌
(1‌)
LME
Primary
Alum;
August
2026
(a)
Long
3‌
275‌
2‌
LME
Primary
Alum;
July
2026
(a)
Short
—‌
—‌
1‌
LME
Primary
Alum;
July
2026
(a)
Short
—‌
—‌
(2‌)
LME
Primary
Alum;
July
2026
(a)
Short
—‌
—‌
3‌
LME
Primary
Alum;
July
2026
(a)
Short
—‌
—‌
4‌
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
10‌
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
15‌
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
106‌
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
8‌
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
7‌
LME
Primary
Alum;
June
2026
(a)
Short
—‌
—‌
20‌
LME
Primary
Alum;
September
2026
(a)
Long
10‌
914‌
21‌
LME
Tin;June
2026
(a)
Short
—‌
—‌
(7‌)
LME
Tin;June
2026
(a)
Short
—‌
—‌
(54‌)
LME
Zinc;
July
2026
(a)
Short
—‌
—‌
1‌
LME
Zinc;
July
2026
(a)
Short
—‌
—‌
—‌
LME
Zinc;
June
2026
(a)
Short
—‌
—‌
(19‌)
LME
Zinc;
June
2026
(a)
Short
—‌
—‌
9‌
LME
Zinc;
June
2026
(a)
Short
—‌
—‌
10‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
87
Futures
Contracts
(continued)
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
LME
Zinc;
June
2026
(a)
Short
—‌
$
—‌
$
(5‌)
LME
Zinc;
June
2026
(a)
Short
—‌
—‌
6‌
LME
Zinc;
June
2026
(a)
Short
—‌
—‌
(3‌)
LME
Zinc;
June
2026
(a)
Short
—‌
—‌
5‌
LME
Zinc;
June
2026
(a)
Short
—‌
—‌
2‌
LME
Zinc;
September
2026
(a)
Long
6‌
531‌
4‌
Low
Sulphur
Gasoline;
July
2026
(a)
Long
8‌
801‌
(93‌)
Low
Sulphur
Gasoline;
October
2026
(a)
Long
1‌
94‌
(7‌)
Maize;
August
2026
(a)
Long
4‌
53‌
2‌
Micro
DAX;
June
2026
Long
11‌
323‌
3‌
Micro
EUR/USD;
June
2026
Long
1‌
15‌
—‌
Micro
WTI
Crude
Oil;
July
2026
(a)
Long
7‌
61‌
(8‌)
Milk;
July
2026
(a)
Short
4‌
134‌
4‌
Mini
FTSE/MIB;
June
2026
Long
4‌
234‌
14‌
Mini
HIS
Index;
June
2026
Short
4‌
128‌
1‌
Mini
H-Share
Index;
June
2026
Short
5‌
53‌
1‌
Mini
Japan
10
Year
Bond;
June
2026
Short
19‌
1,538‌
8‌
Mini
Topix
Index;
June
2026
Long
6‌
149‌
7‌
MSCI
Singapore
Index;
June
2026
Long
9‌
325‌
(1‌)
Nasdaq
100
E-Mini;
June
2026
Long
9‌
5,473‌
136‌
Nasdaq
100
Micro
E-mini;
June
2026
Long
1‌
61‌
2‌
Natural
Gas;
August
2026
(a)
Long
2‌
66‌
2‌
Natural
Gas;
July
2026
(a)
Long
1‌
33‌
(1‌)
Natural
Gas;
July
2026
(a)
Short
1‌
33‌
(1‌)
Natural
Gas;
October
2026
(a)
Short
2‌
66‌
(2‌)
Natural
Gas;
September
2026
(a)
Long
1‌
33‌
1‌
New
Zealand
3
Month
Bill;
September
2026
Long
5‌
2,972‌
—‌
New
Zealand
Dollars;
June
2026
Short
1‌
60‌
(1‌)
Nikkei
225
Mini;
June
2026
Long
7‌
292‌
37‌
Nikkei
225
OSE;
June
2026
Long
6‌
2,504‌
410‌
Nikkei
225
SGX;
June
2026
Long
3‌
626‌
111‌
Nikkei
225
Yen;
June
2026
Long
1‌
208‌
23‌
NY
Harbor
ULSD;
July
2026
(a)
Long
5‌
733‌
(82‌)
NY
Harbor
ULSD;
September
2026
(a)
Long
1‌
142‌
(12‌)
NYSE
FANG
Index;
June
2026
Long
1‌
92‌
5‌
Oat;
July
2026
(a)
Long
1‌
18‌
1‌
Palladium;
September
2026
(a)
Short
2‌
276‌
5‌
Platinum;
April
2027
(a)
Long
1‌
30‌
(1‌)
Platinum;
February
2027
(a)
Long
1‌
30‌
(2‌)
Rapeseed
Euro;
August
2026
(a)
Long
11‌
336‌
16‌
Rapeseed
Euro;
November
2026
(a)
Long
2‌
62‌
3‌
Robusta
Coffee
10tn;
July
2026
(a)
Short
1‌
35‌
(2‌)
Robusta
Coffee
10tn;
September
2026
(a)
Short
1‌
33‌
(1‌)
Rough
Rice;
July
2026
(a)
Long
1‌
25‌
(1‌)
RSS3
Rubber;
October
2026
(a)
Long
1‌
13‌
—‌
Russell
2000
Emini;
June
2026
Long
22‌
3,216‌
144‌
Russell
2000
Micro
E-mini;
June
2026
Long
1‌
15‌
1‌
S&P
500
Emini;
June
2026
Long
16‌
6,077‌
174‌
S&P
500
Micro
E-mini;
June
2026
Long
2‌
76‌
6‌
S&P
Mid
400
Emini;
June
2026
Long
4‌
1,493‌
110‌
S&P/TSX
60
Index;
June
2026
Long
3‌
880‌
47‌
SET50
Index;
June
2026
Long
27‌
168‌
8‌
SGX
Iron
Ore
62%;
July
2026
(a)
Long
60‌
631‌
2‌
Short
Term
Euro-BTP;
June
2026
Short
54‌
6,704‌
(33‌)
Silver;
July
2026
(a)
Long
1‌
379‌
(58‌)
Silver;
July
2026
(a)
Short
1‌
379‌
(5‌)
Silver;
September
2026
(a)
Long
1‌
382‌
(3‌)
Soybean
Future;
January
2027
(a)
Long
11‌
662‌
14‌
Soybean
Future;
July
2026
(a)
Long
35‌
2,076‌
(15‌)
Soybean
Future;
November
2026
(a)
Long
21‌
1,250‌
25‌
Soybean
Meal;
December
2026
(a)
Long
8‌
256‌
1‌
Soybean
Meal;
July
2026
(a)
Long
6‌
198‌
(1‌)
Soybean
Oil;
December
2026
(a)
Long
21‌
913‌
88‌
Soybean
Oil;
January
2027
(a)
Long
4‌
172‌
14‌
Soybean
Oil;
July
2026
(a)
Long
15‌
699‌
76‌
SPI
200
Index;
June
2026
Long
6‌
943‌
9‌
Stoxx
600
Bank;
June
2026
Long
6‌
132‌
5‌
Stoxx
600
Utilities;
June
2026
Short
1‌
31‌
1‌
Stoxx
Europe
600;
June
2026
Long
19‌
694‌
30‌
Sugar
#11;
July
2026
(a)
Short
15‌
236‌
—‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
88
Futures
Contracts
(continued)
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
Sugar
#11;
March
2027
(a)
Long
7‌
$
121‌
$
(4‌)
Sugar
#11;
May
2027
(a)
Short
1‌
17‌
—‌
Sugar
#11;
October
2026
(a)
Long
5‌
81‌
(4‌)
SX5E
Dividend;
December
2027
Long
4‌
83‌
3‌
TSR20
FOB;
August
2026
(a)
Long
1‌
11‌
—‌
UK
10
Year
Gilt;
September
2026
Short
10‌
1,195‌
(15‌)
UK
10
Year
Gilt;
September
2026
Long
13‌
1,554‌
5‌
UK
Natural
Gas;
August
2026
(a)
Long
5‌
232‌
(17‌)
US
10
Year
Treasury
Note;
September
2026
Short
82‌
9,006‌
(32‌)
US
10
Year
Treasury
Ultra
Note;
September
2026
Short
82‌
9,190‌
(91‌)
US
2
Year
Treasury
Note;
September
2026
Short
291‌
60,109‌
(74‌)
US
3
Year
Treasury
Note;
September
2026
Short
2‌
420‌
(1‌)
US
5
Year
Treasury  Note;
September
2026
Long
385‌
41,277‌
192‌
US
5
Year
Treasury  Note;
September
2026
Short
110‌
11,793‌
(29‌)
US
Dollar;
June
2026
Long
2‌
20‌
—‌
US
Long
Bond;
September
2026
Short
33‌
3,703‌
(41‌)
US
Ultra
Bond;
September
2026
Short
24‌
2,746‌
(43‌)
Wheat;
December
2026
(a)
Long
11‌
354‌
—‌
Wheat;
July
2026
(a)
Long
12‌
366‌
(19‌)
Wheat;
September
2026
(a)
Long
4‌
125‌
(5‌)
White
Maize-SAF;
July
2026
(a)
Long
1‌
20‌
(1‌)
White
Sugar;
August
2026
(a)
Long
1‌
22‌
—‌
WIG20
Index;
June
2026
Long
17‌
341‌
17‌
WTI
Crude;
August
2026
(a)
Long
1‌
85‌
1‌
WTI
Crude;
August
2026
(a)
Long
4‌
341‌
(5‌)
WTI
Crude;
December
2026
(a)
Long
4‌
313‌
49‌
WTI
Crude;
July
2026
(a)
Long
11‌
961‌
(101‌)
WTI
Crude;
October
2026
(a)
Long
1‌
81‌
(6‌)
WTI
Crude;
October
2026
(a)
Long
2‌
163‌
(11‌)
WTI
Crude;
September
2026
(a)
Long
3‌
250‌
(11‌)
WTI
Crude;
September
2026
(a)
Long
1‌
83‌
3‌
XAF
Financial;
June
2026
Long
1‌
159‌
1‌
XAP
Consumer
Staples;
June
2026
Long
2‌
167‌
(4‌)
XAU
Utilities;
June
2026
Short
1‌
90‌
—‌
Total
$
1,180‌
Amounts
in
thousands
except
contracts.
(a)
All
or
a
portion
of
this
security
is
owned
by
the
GMS
Cayman
Corporation,
which
is
a
wholly-owned
subsidiary
of
the
Fund.
Foreign
Currency
Contracts
Unrealized
Appreciation/(Depreciation)
Counterparty
Settlement
Date
Currency
to
Accept
Currency
to
Deliver
Asset
Liability
Bank
of
America
NA
06/05/2026
$
111‌
EUR
95‌
$
—‌
$
—‌
Bank
of
America
NA
06/17/2026
AUD
15,119‌
$
10,820‌
46‌
(1‌)
Bank
of
America
NA
06/17/2026
GBP
4,131‌
$
5,563‌
18‌
(14‌)
Bank
of
America
NA
06/17/2026
CAD
6,502‌
$
4,760‌
1‌
(37‌)
Bank
of
America
NA
06/17/2026
EUR
6,201‌
$
7,259‌
17‌
(41‌)
Bank
of
America
NA
06/17/2026
JPY
1,311,921‌
$
8,333‌
—‌
(86‌)
Bank
of
America
NA
06/17/2026
MXN
41,172‌
$
2,319‌
49‌
—‌
Bank
of
America
NA
06/17/2026
NZD
3,686‌
$
2,167‌
38‌
—‌
Bank
of
America
NA
06/17/2026
CHF
2,397‌
$
3,064‌
15‌
(3‌)
Bank
of
America
NA
06/17/2026
$
71‌
MXN
1,265‌
—‌
(1‌)
Bank
of
America
NA
06/17/2026
$
4,413‌
AUD
6,249‌
3‌
(80‌)
Bank
of
America
NA
06/17/2026
$
8,077‌
CAD
11,122‌
25‌
(22‌)
Bank
of
America
NA
06/17/2026
$
5,213‌
GBP
3,890‌
4‌
(29‌)
Bank
of
America
NA
06/17/2026
$
5,052‌
CHF
3,954‌
2‌
(22‌)
Bank
of
America
NA
06/17/2026
$
2,538‌
NZD
4,329‌
—‌
(56‌)
Bank
of
America
NA
06/17/2026
$
16,507‌
JPY
2,608,318‌
112‌
(3‌)
Bank
of
America
NA
06/17/2026
$
14,458‌
EUR
12,411‌
19‌
(44‌)
Bank
of
America
NA
07/31/2026
$
306‌
EUR
261‌
1‌
—‌
Barclays
Bank
PLC
06/01/2026
EUR
200‌
GBP
174‌
—‌
—‌
Barclays
Bank
PLC
06/02/2026
EUR
500‌
GBP
433‌
—‌
—‌
BNP
Paribas
06/24/2026
INR
404,312‌
$
4,187‌
58‌
—‌
BNP
Paribas
06/25/2026
GBP
150‌
$
201‌
1‌
—‌
BNP
Paribas
06/25/2026
CAD
1,605‌
$
1,165‌
1‌
—‌
BNP
Paribas
06/25/2026
CLP
1,648,584‌
$
1,845‌
9‌
—‌
BNP
Paribas
06/25/2026
COP
697,582‌
$
185‌
4‌
—‌
BNP
Paribas
06/25/2026
EUR
503‌
$
585‌
2‌
—‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
89
Foreign
Currency
Contracts
(continued)
Unrealized
Appreciation/(Depreciation)
Counterparty
Settlement
Date
Currency
to
Accept
Currency
to
Deliver
Asset
Liability
BNP
Paribas
06/25/2026
MXN
21,813‌
$
1,255‌
$
1‌
$
—‌
BNP
Paribas
06/25/2026
NOK
9,372‌
$
1,013‌
—‌
—‌
BNP
Paribas
06/25/2026
PHP
66,507‌
$
1,081‌
—‌
(2‌)
BNP
Paribas
06/25/2026
RON
13,311‌
$
2,945‌
9‌
—‌
BNP
Paribas
06/25/2026
SEK
58,420‌
$
6,258‌
78‌
—‌
BNP
Paribas
06/25/2026
$
1,616‌
PEN
5,552‌
—‌
(10‌)
BNP
Paribas
06/25/2026
$
4,112‌
CZK
85,881‌
—‌
(15‌)
BNP
Paribas
06/25/2026
$
2,281‌
SEK
21,321‌
—‌
(31‌)
BNP
Paribas
06/25/2026
$
46‌
NOK
428‌
—‌
—‌
BNP
Paribas
06/25/2026
$
1,019‌
AUD
1,431‌
—‌
(9‌)
BNP
Paribas
06/25/2026
$
538‌
GBP
399‌
1‌
—‌
BNP
Paribas
06/25/2026
$
598‌
RON
2,694‌
—‌
—‌
BNP
Paribas
06/25/2026
$
621‌
ZAR
10,163‌
—‌
(5‌
)
BNP
Paribas
06/25/2026
$
160‌
NZD
271‌
—‌
(3‌)
BNP
Paribas
06/25/2026
$
1,588‌
PHP
98,093‌
—‌
(4‌)
BNP
Paribas
06/25/2026
$
646‌
CHF
507‌
—‌
(5‌)
BNP
Paribas
06/25/2026
$
1,775‌
COP
6,509,638‌
19‌
—‌
Citigroup
Inc
06/24/2026
CNH
25,125‌
$
3,704‌
16‌
—‌
Citigroup
Inc
06/24/2026
KRW
4,059,400‌
$
2,702‌
—‌
(8‌)
Citigroup
Inc
07/30/2026
TRY
22,375‌
$
456‌
6‌
—‌
Credit
Agricole
06/24/2026
$
601‌
INR
57,758‌
—‌
(5‌)
Credit
Agricole
06/25/2026
AUD
1,292‌
$
923‌
6‌
—‌
Credit
Agricole
06/25/2026
BRL
21,224‌
$
4,196‌
—‌
(11‌)
Credit
Agricole
06/25/2026
CAD
1,159‌
$
843‌
—‌
(1‌)
Credit
Agricole
06/25/2026
EUR
2,529‌
$
2,941‌
11‌
—‌
Credit
Agricole
06/25/2026
JPY
486,438‌
$
3,067‌
—‌
(6‌)
Credit
Agricole
06/25/2026
TWD
134,969‌
$
4,262‌
27‌
—‌
Credit
Agricole
06/25/2026
NZD
6,261‌
$
3,676‌
75‌
—‌
Credit
Agricole
06/25/2026
NOK
7,986‌
$
861‌
3‌
—‌
Credit
Agricole
06/25/2026
ZAR
10,449‌
$
632‌
11‌
—‌
Credit
Agricole
06/25/2026
KRW
2,351,488‌
$
1,572‌
—‌
(11‌)
Credit
Agricole
06/25/2026
THB
70,531‌
$
2,170‌
2‌
—‌
Credit
Agricole
06/25/2026
$
2,973‌
THB
97,050‌
—‌
(15‌)
Credit
Agricole
06/25/2026
$
613‌
TWD
19,281‌
—‌
—‌
Credit
Agricole
06/25/2026
$
596‌
IDR
10,533,848‌
6‌
—‌
Credit
Agricole
06/25/2026
$
2,675‌
CHF
2,099‌
—‌
(21‌)
Credit
Agricole
06/25/2026
$
5,046‌
NOK
46,751‌
—‌
(9‌)
Credit
Agricole
06/25/2026
$
4,092‌
AUD
5,741‌
—‌
(32‌)
Credit
Agricole
06/25/2026
$
2,623‌
NZD
4,448‌
—‌
(43‌)
Credit
Agricole
06/25/2026
$
1,278‌
JPY
203,437‌
—‌
(2‌)
Credit
Agricole
06/25/2026
$
1,531‌
GBP
1,141‌
—‌
(
5‌)
Credit
Agricole
07/06/2026
$
1,273‌
JPY
200,000‌
13‌
—‌
Credit
Agricole
07/10/2026
$
2,890‌
JPY
443,500‌
96‌
—‌
Credit
Agricole
10/20/2026
$
1,970‌
JPY
310,000‌
1‌
—‌
Credit
Agricole
12/21/2026
$
1,540‌
JPY
231,000‌
65‌
—‌
Credit
Agricole
02/22/2027
$
1,990‌
JPY
310,000‌
1‌
—‌
Deutsche
Bank
AG
06/01/2026
JPY
26,681‌
GBP
125‌
—‌
(1‌)
Deutsche
Bank
AG
06/02/2026
NZD
3,139‌
AUD
2,600‌
11‌
—‌
Deutsche
Bank
AG
06/05/2026
$
300‌
INR
28,689‌
—‌
(2‌)
Deutsche
Bank
AG
06/08/2026
INR
104,133‌
$
1,100‌
—‌
(5‌)
Deutsche
Bank
AG
06/12/2026
$
100‌
INR
9,480‌
—‌
—‌
Deutsche
Bank
AG
06/15/2026
$
1,300‌
INR
124,544‌
—‌
(9‌)
Deutsche
Bank
AG
06/15/2026
$
200‌
KRW
297,068‌
3‌
—‌
Deutsche
Bank
AG
06/18/2026
$
100‌
INR
9,599‌
—‌
(1‌)
Deutsche
Bank
AG
06/22/2026
$
100‌
INR
9,624‌
—‌
(1‌)
Deutsche
Bank
AG
06/22/2026
$
100‌
COP
378,268‌
—‌
(2‌)
Deutsche
Bank
AG
06/26/2026
$
200‌
COP
748,515‌
—‌
(2‌)
Deutsche
Bank
AG
06/30/2026
COP
365,922‌
$
100‌
—‌
(1‌)
Deutsche
Bank
AG
07/02/2026
$
100‌
CLP
89,049‌
—‌
—‌
Goldman
Sachs
&
Co
06/23/2026
$
988‌
EUR
840‌
7‌
(1‌)
Goldman
Sachs
&
Co
06/24/2026
$
1,827‌
IDR
32,304,150‌
19‌
—‌
Goldman
Sachs
&
Co
06/24/2026
$
1,187‌
ZAR
19,800‌
—‌
(33‌)
Goldman
Sachs
&
Co
06/24/2026
$
413‌
KRW
625,507‌
—‌
(2‌)
Goldman
Sachs
&
Co
08/12/2026
$
1,188‌
GBP
876‌
11‌
—‌
Goldman
Sachs
&
Co
09/15/2026
$
359‌
EUR
307‌
—‌
(1‌)
Goldman
Sachs
&
Co
10/15/2026
$
8‌
CAD
11‌
—‌
—‌
Goldman
Sachs
&
Co
11/18/2026
GBP
51‌
$
67‌
1‌
—‌
Goldman
Sachs
&
Co
11/18/2026
$
1,109‌
GBP
821‌
6‌
—‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
90
Foreign
Currency
Contracts
(continued)
Unrealized
Appreciation/(Depreciation)
Counterparty
Settlement
Date
Currency
to
Accept
Currency
to
Deliver
Asset
Liability
Goldman
Sachs
&
Co
11/18/2026
$
189‌
EUR
160‌
$
—‌
$
—‌
Goldman
Sachs
&
Co
12/15/2026
$
1,959‌
GBP
1,458‌
1‌
(4‌)
HSBC
Securities
Inc
06/12/2026
EUR
40‌
$
46‌
—‌
—‌
HSBC
Securities
Inc
06/12/2026
$
4,179‌
EUR
3,553‌
34‌
—‌
HSBC
Securities
Inc
06/24/2026
HUF
85,450‌
$
274‌
7‌
—‌
HSBC
Securities
Inc
06/24/2026
$
1,610‌
PEN
5,500‌
—‌
(1‌)
HSBC
Securities
Inc
06/24/2026
$
2,066‌
COP
7,865,748‌
—‌
(57‌)
HSBC
Securities
Inc
06/24/2026
$
1,367‌
EUR
1,175‌
—‌
(5‌)
HSBC
Securities
Inc
06/24/2026
$
1,310‌
KRW
1,974,375‌
—‌
—‌
JPMorgan
Chase
06/01/2026
GBP
125‌
CHF
132‌
—‌
—‌
JPMorgan
Chase
06/01/2026
GBP
125‌
JPY
26,731‌
1‌
—‌
JPMorgan
Chase
06/01/2026
GBP
173‌
EUR
200‌
—‌
—‌
JPMorgan
Chase
06/01/2026
CAD
402‌
EUR
250‌
—‌
—‌
JPMorgan
Chase
06/01/2026
EUR
250‌
CAD
402‌
—‌
—‌
JPMorgan
Chase
06/01/2026
CHF
132‌
GBP
125‌
—‌
—‌
JPMorgan
Chase
06/02/2026
AUD
2,600‌
NZD
3,125‌
—‌
(3‌)
JPMorgan
Chase
06/02/2026
EUR
200‌
JPY
37,164‌
—‌
—‌
JPMorgan
Chase
06/02/2026
JPY
55,649‌
EUR
300‌
—‌
—‌
JPMorgan
Chase
06/05/2026
INR
28,807‌
$
300‌
3‌
—‌
JPMorgan
Chase
06/05/2026
TWD
3,168‌
$
100‌
1‌
—‌
JPMorgan
Chase
06/05/2026
$
100‌
TWD
3,168‌
—‌
(1‌)
JPMorgan
Chase
06/08/2026
CLP
90,778‌
$
100‌
2‌
—‌
JPMorgan
Chase
06/08/2026
TWD
9,509‌
$
300‌
3‌
—‌
JPMorgan
Chase
06/08/2026
KRW
594,388‌
$
400‌
—‌
(6‌)
JPMorgan
Chase
06/08/2026
$
400‌
KRW
587,990‌
10‌
—‌
JPMorgan
Chase
06/08/2026
$
300‌
TWD
9,507‌
—‌
(3‌)
JPMorgan
Chase
06/08/2026
$
1,100‌
INR
105,634‌
—‌
(11‌)
JPMorgan
Chase
06/08/2026
$
100‌
CLP
90,817‌
—‌
(2‌)
JPMorgan
Chase
06/09/2026
COP
1,117,299‌
$
300‌
3‌
—‌
JPMorgan
Chase
06/09/2026
$
300‌
COP
1,145,708‌
—‌
(10‌)
JPMorgan
Chase
06/11/2026
TWD
3,172‌
$
100‌
1‌
—‌
JPMorgan
Chase
06/11/2026
KRW
1,352,921‌
$
900‌
—‌
(2‌)
JPMorgan
Chase
06/11/2026
$
900‌
KRW
1,304,316‌
34‌
—‌
JPMorgan
Chase
06/11/2026
$
100‌
TWD
3,141‌
—‌
—‌
JPMorgan
Chase
06/12/2026
INR
9,556‌
$
100‌
—‌
—‌
JPMorgan
Chase
06/12/2026
KRW
146,301‌
$
100‌
—‌
(3‌)
JPMorgan
Chase
06/12/2026
$
149‌
EUR
128‌
—‌
(1‌)
JPMorgan
Chase
06/12/2026
$
100‌
KRW
149,904‌
1‌
—‌
JPMorgan
Chase
06/15/2026
TWD
6,296‌
$
200‌
—‌
—‌
JPMorgan
Chase
06/15/2026
KRW
1,056,156‌
$
700‌
1‌
—‌
JPMorgan
Chase
06/15/2026
$
500‌
KRW
739,945‌
9‌
—‌
JPMorgan
Chase
06/15/2026
$
200‌
TWD
6,286‌
—‌
—‌
JPMorgan
Chase
06/22/2026
CLP
90,807‌
$
100‌
2‌
—‌
JPMorgan
Chase
06/22/2026
COP
1,148,814‌
$
300‌
10‌
—‌
JPMorgan
Chase
06/22/2026
KRW
150,997‌
$
100‌
—‌
—‌
JPMorgan
Chase
06/22/2026
$
900‌
KRW
1,352,527‌
2‌
—‌
JPMorgan
Chase
06/22/2026
$
900‌
INR
86,575‌
—‌
(9‌)
JPMorgan
Chase
06/22/2026
$
500‌
TWD
15,863‌
—‌
(5‌)
JPMorgan
Chase
06/24/2026
$
6,977‌
EUR
6,000‌
—‌
(28‌)
JPMorgan
Chase
06/24/2026
$
2,015‌
MXN
34,978‌
—‌
—‌
JPMorgan
Chase
06/24/2026
$
962‌
KRW
1,459,517‌
—‌
(6‌)
JPMorgan
Chase
06/24/2026
$
506‌
PLN
1,850‌
—‌
(4‌)
JPMorgan
Chase
06/26/2026
KRW
149,846‌
$
100‌
—‌
(1‌)
JPMorgan
Chase
06/29/2026
$
700‌
KRW
1,055,754‌
—‌
(1‌)
JPMorgan
Chase
06/29/2026
$
200‌
TWD
6,300‌
—‌
—‌
JPMorgan
Chase
06/29/2026
$
300‌
INR
28,882‌
—‌
(3‌)
JPMorgan
Chase
07/02/2026
$
100‌
INR
9,582‌
—‌
(1‌)
JPMorgan
Chase
07/06/2026
EGP
19,200‌
$
361‌
8‌
—‌
JPMorgan
Chase
07/06/2026
$
868‌
EGP
47,800‌
—‌
(49‌)
JPMorgan
Chase
07/08/2026
AUD
4,494‌
EUR
2,750‌
15‌
—‌
JPMorgan
Chase
07/08/2026
AUD
4,400‌
CAD
4,331‌
13‌
—‌
JPMorgan
Chase
07/08/2026
AUD
6,600‌
NZD
7,968‌
—‌
(36‌)
JPMorgan
Chase
07/08/2026
AUD
4,237‌
GBP
2,250‌
13‌
—‌
JPMorgan
Chase
07/08/2026
AUD
3,000‌
JPY
339,439‌
16‌
—‌
JPMorgan
Chase
07/08/2026
GBP
1,625‌
JPY
346,231‌
7‌
—‌
JPMorgan
Chase
07/08/2026
GBP
2,000‌
$
2,680‌
12‌
—‌
JPMorgan
Chase
07/08/2026
CAD
2,200‌
JPY
252,867‌
6‌
—‌
JPMorgan
Chase
07/08/2026
CAD
3,200‌
$
2,323‌
2‌
—‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
91
Foreign
Currency
Contracts
(continued)
Unrealized
Appreciation/(Depreciation)
Counterparty
Settlement
Date
Currency
to
Accept
Currency
to
Deliver
Asset
Liability
JPMorgan
Chase
07/08/2026
CNH
23,674‌
$
3,500‌
$
9‌
$
—‌
JPMorgan
Chase
07/08/2026
EUR
1,875‌
$
2,181‌
10‌
—‌
JPMorgan
Chase
07/08/2026
EUR
2,300‌
GBP
1,997‌
—‌
(1‌)
JPMorgan
Chase
07/08/2026
EUR
2,625‌
CAD
4,223‌
—‌
(2‌)
JPMorgan
Chase
07/08/2026
EUR
2,200‌
JPY
406,864‌
7‌
—‌
JPMorgan
Chase
07/08/2026
HUF
429,371‌
$
1,400‌
14‌
—‌
JPMorgan
Chase
07/08/2026
ILS
4,245‌
$
1,500‌
8‌
—‌
JPMorgan
Chase
07/08/2026
JPY
26,648‌
GBP
125‌
—‌
—‌
JPMorgan
Chase
07/08/2026
MXN
31,500‌
$
1,807‌
5‌
—‌
JPMorgan
Chase
07/08/2026
NZD
3,119‌
AUD
2,600‌
2‌
—‌
JPMorgan
Chase
07/08/2026
NZD
800‌
$
472‌
8‌
—‌
JPMorgan
Chase
07/08/2026
NZD
3,400‌
JPY
318,673‌
30‌
—‌
JPMorgan
Chase
07/08/2026
NOK
21,356‌
$
2,300‌
9‌
—‌
JPMorgan
Chase
07/08/2026
NOK
21,000‌
SEK
21,005‌
—‌
(9‌)
JPMorgan
Chase
07/08/2026
NOK
21,600‌
EUR
2,000‌
—‌
(1‌)
JPMorgan
Chase
07/08/2026
PLN
424‌
EUR
100‌
—‌
—‌
JPMorgan
Chase
07/08/2026
PLN
8,392‌
$
2,300‌
14‌
—‌
JPMorgan
Chase
07/08/2026
SGD
4,722‌
$
3,700‌
10‌
—‌
JPMorgan
Chase
07/08/2026
ZAR
23,063‌
$
1,400‌
19‌
—‌
JPMorgan
Chase
07/08/2026
SEK
17,561‌
EUR
1,625‌
8‌
—‌
JPMorgan
Chase
07/08/2026
SEK
11,148‌
$
1,200‌
10‌
—‌
JPMorgan
Chase
07/08/2026
CHF
750‌
JPY
151,833‌
9‌
—‌
JPMorgan
Chase
07/08/2026
CHF
2,000‌
$
2,547‌
26‌
—‌
JPMorgan
Chase
07/08/2026
CHF
657‌
GBP
625‌
4‌
—‌
JPMorgan
Chase
07/08/2026
CHF
2,627‌
EUR
2,875‌
21‌
—‌
JPMorgan
Chase
07/08/2026
TRY
57,171‌
$
1,200‌
7‌
—‌
JPMorgan
Chase
07/08/2026
$
1,494‌
JPY
237,500‌
—‌
(2‌)
JPMorgan
Chase
07/08/2026
$
800‌
CNH
5,403‌
—‌
(1‌)
JPMorgan
Chase
07/30/2026
TRY
74,625‌
$
1,514‌
25‌
—‌
JPMorgan
Chase
08/28/2026
$
396‌
CAD
546‌
—‌
(2‌)
JPMorgan
Chase
09/15/2026
$
41‌
EUR
35‌
—‌
—‌
JPMorgan
Chase
10/07/2026
$
513‌
CAD
702‌
—‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
GBP
185‌
$
248‌
1‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
CAD
918‌
$
663‌
3‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
CLP
208,213‌
$
230‌
4‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
COP
13,584,487‌
$
3,554‌
110‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
EUR
86‌
$
100‌
—‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
HUF
1,046,997‌
$
3,376‌
73‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
PLN
6,626‌
$
1,820‌
8‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
KRW
285,028‌
$
189‌
—‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
CHF
373‌
$
475‌
4‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
$
1,004‌
KRW
1,504,314‌
5‌
—‌
RBC
Dominon
Securities
Corp
06/25/2026
$
597‌
BRL
3,032‌
—‌
(1‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
4,291‌
MXN
74,597‌
—‌
(4‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
175‌
PLN
641‌
—‌
(1‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
2,060‌
CNH
13,988‌
—‌
(11‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
2,763‌
PEN
9,451‌
—‌
(3‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
1,268‌
SEK
11,766‌
—‌
(8‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
1,557‌
CLP
1,407,563‌
—‌
(26‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
619‌
HUF
189,117‌
—‌
(4‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
690‌
NZD
1,168‌
—‌
(10‌)
RBC
Dominon
Securities
Corp
06/25/2026
$
264‌
AUD
369‌
—‌
(1‌)
RBC
Dominon
Securities
Corp
07/10/2026
$
1,523‌
JPY
231,000‌
68‌
—‌
RBC
Dominon
Securities
Corp
07/21/2026
$
12,542‌
JPY
1,930,000‌
373‌
—‌
RBC
Dominon
Securities
Corp
12/21/2026
$
3,349‌
JPY
520,000‌
29‌
—‌
Total
$
2,080‌
$
(1,092‌)
Amounts
in
thousands.
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
92
Credit
Default
Swaps
Buy
Protection
Counterparty
Reference
Entity
Implied
Credit
Spread
as
of
May
31,
2026
(a)
(Pay)/
Receive
Fixed
Rate
Payment
Frequency
Maturity
Date
Notional
Amount
Upfront
Premiums
Paid/
(Received)
Unrealized
Appreciation/
(Depreciation)
Fair
Value
Asset
----
Liability
Goldman
Sachs
&
Co
Bank
of
China
Ltd/
Sydney,
4.19%,
06/14/2027
0.32%
(1.00)%
Quarterly
12/20/2028
$
3,200‌
$
(51‌)
$
(3‌)
$
—‌
$
(54‌)
Goldman
Sachs
&
Co
China
Construction
Bank
Corp/Hong
Kong,
4.21%,
07/16/2027
0.25%
(1.00)%
Quarterly
12/20/2028
3,200‌
(51‌)
(8‌)
—‌
(59‌)
Goldman
Sachs
&
Co
China
Development
Bank,
3.00%,
06/01/2026
0.27%
(1.00)%
Quarterly
12/20/2028
3,200‌
(51‌)
(6‌)
—‌
(57‌)
Goldman
Sachs
&
Co
Industrial
&
Commercial
Bank
of
China
Ltd/Hong
Kong,
1.63%,
10/28/2026
0.24%
(1.00)%
Quarterly
12/20/2028
3,200‌
(50‌)
(9‌)
—‌
(59‌)
Total
$
(203‌)
$
(26‌)
$
—‌
$
(229‌)
Amounts
in
thousands.
Exchange
Cleared
Credit
Default
Swaps
Buy
Protection
Reference
Entity
Implied
Credit
Spread
as
of
May
31,
2026
(a)
(Pay)/
Receive
Fixed
Rate
Payment
Frequency
Maturity
Date
Notional
Amount
Upfront
Premiums
Paid/
(Received)
Unrealized
Appreciation/
(Depreciation)
Fair
Value
CDX.NA.HY.46
N/A
(5.00)%
Quarterly
06/20/2031
$
4,679‌
$
(177‌)
$
(211‌)
$
(388‌)
ITRX.XOVER.45
N/A
(5.00)%
Quarterly
06/20/2031
EUR
6,375‌
(674‌)
(102‌)
(776‌)
Republic
of
Colombia,
10.38%,
01/28/2033
2.15%
(1.00)%
Quarterly
06/20/2031
$
1,325‌
63‌
3‌
66‌
Republic
of
Colombia,
10.38%,
01/28/2033
2.15%
(1.00)%
Quarterly
06/20/2031
325‌
16‌
—‌
16‌
Total
$
(772‌)
$
(310‌)
$
(1,082‌)
Amounts
in
thousands.
(a)
Implied
credit
spreads,
represented
in
absolute
terms,
used
in
determining
the
fair
value
of
credit
default
swap
agreements
on
corporate
issues
or
sovereign
issues
as
of
period
end
serve
as
an
indicator
of
the
current
status
of
the
payment/performance
risk
and
represent
the
likelihood
or
risk
of
default
for
the
credit
derivative.
The
implied
credit
spread
of
a
particular
referenced
entity
reflects
the
cost
of
buying/selling
protection
and
may
include
upfront
payments
required
to
be
made
to
enter
into
the
agreement.
Wider
credit
spreads
represent
a
deterioration
of
the
referenced
entity's
credit
soundness
and
a
greater
likelihood
or
risk
of
default
or
other
credit
event
occurring
as
defined
under
the
terms
of
the
agreement.
Exchange
Cleared
Interest
Rate
Swaps
Floating
Rate
Index
(Pay)/
Receive
Floating
Rate
Fixed
Rate
Payment
Frequency
Paid
by
Fund
Payment
Frequency
Received
by
Fund
Effective
Date
(a)
Maturity
Date
Notional
Amount
Unrealized
Appreciation/
(Depreciation)
Upfront
Premiums
Paid/(Received)
Fair
Value
3
Month
Budapest
Interbank
Offered
Rate
Pay
6.95%
Semiannual
Annual
N/A
06/17/2031
HUF
298,891‌
$
80‌
$
1‌
$
81‌
6
Month
Prague
Interbank
Offered
Rate
Pay
3.98%
Semiannual
Annual
N/A
03/18/2031
CZK
34,114‌
(17‌)
(1‌)
(18‌)
Total
$
63‌
$
—‌
$
63‌
Amounts
in
thousands.
(a)    
Forward
swap.
Total
Return
Swaps
Counterparty
Fund
Pays
Fund
Receives
Payment
Frequency
Maturity
Date
Notional
Amount
Upfront
Premiums
Paid/
(Received)
Value
and
Unrealized
Appreciation/
(Depreciation)
Asset
 Liability
Citigroup
Inc
Secured
Overnight
Financing
Rate
+
0.00%
Nigeria
OMO
Bill,
0.00%,
09/08/2026
Annual
09/09/2026
NGN
600,000‌
$
—‌
$
—‌
$
(1‌)
Citigroup
Inc
US
Federal
Funds
Effective
Rate
+
0.00%
Nigeria
OMO
Bill,
0.00%,
09/15/2026
Annual
09/16/2026
152,000‌
—‌
1‌
—‌
Citigroup
Inc
US
Federal
Funds
Effective
Rate
+
0.00%
Nigeria
OMO
Bill,
0.00%,
09/15/2026
Annual
09/17/2026
43,000‌
—‌
—‌
—‌
Citigroup
Inc
US
Federal
Funds
Effective
Rate
+
0.00%
Nigeria
OMO
Bill,
0.00%,
09/29/2026
Annual
10/01/2026
40,000‌
—‌
—‌
—‌
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
93
Total
Return
Swaps
(continued)
Counterparty
Fund
Pays
Fund
Receives
Payment
Frequency
Maturity
Date
Notional
Amount
Upfront
Premiums
Paid/
(Received)
Value
and
Unrealized
Appreciation/
(Depreciation)
Asset
 Liability
Citigroup
Inc
US
Federal
Funds
Effective
Rate
+
0.00%
Nigeria
OMO
Bill,
0.00%,
09/29/2026
Annual
10/01/2026
NGN
425,000‌
$
—‌
$
6‌
$
—‌
Citigroup
Inc
US
Federal
Funds
Effective
Rate
+
0.00%
Nigeria
OMO
Bill,
0.00%,
09/29/2026
Annual
10/01/2026
282,000‌
—‌
3‌
—‌
Goldman
Sachs
&
Co
0.00%
Custom
Basket
Series
1
Excess
Return
Strategy
Monthly
12/31/2026
$
221‌
—‌
9‌
—‌
Goldman
Sachs
&
Co
(a)
Overnight
Bank
Funding
Rate
plus/less
spread
Total
return
on
a
custom
basket
of
long
securities
traded
in
foreign
currencies
but
settle
in
USD
Monthly
07/22/2026-
04/20/2027
31,856‌
—‌
—‌
(169‌)
JPMorgan
Chase
Secured
Overnight
Financing
Rate
+
0.85%
Nigeria
OMO
Bill,
0.00%,
07/28/2026
Annual
07/28/2026
NGN
96,000‌
—‌
4‌
—‌
JPMorgan
Chase
Secured
Overnight
Financing
Rate
+
0.85%
Nigeria
OMO
Bill,
0.00%,
08/04/2026
Annual
08/04/2026
177,000‌
—‌
5‌
—‌
JPMorgan
Chase
Secured
Overnight
Financing
Rate
+
0.85%
Nigeria
OMO
Bill,
0.00%,
08/25/2026
Annual
08/25/2026
730,000‌
—‌
10‌
—‌
JPMorgan
Chase
Secured
Overnight
Financing
Rate
+
0.85%
Nigeria
OMO
Bill,
0.00%,
09/08/2026
Annual
09/08/2026
150,000‌
—‌
1‌
—‌
JPMorgan
Chase
Secured
Overnight
Financing
Rate
+
0.85%
Nigeria
OMO
Bill,
0.00%,
09/15/2026
Annual
09/15/2026
210,000‌
—‌
1‌
—‌
JPMorgan
Chase
Secured
Overnight
Financing
Rate
+
0.85%
Nigeria
OMO
Bill,
0.00%,
09/15/2026
Annual
09/16/2026
175,000‌
—‌
2‌
—‌
JPMorgan
Chase
Overnight
Bank
Funding
Rate
plus/less
spread
Total
return
on
a
custom
basket
of
long
and
short
securities
traded
in
foreign
currencies
but
settle
in
USD
Monthly
10/26/2026-
03/04/2027
$
2,660‌
—‌
—‌
(105‌)
Morgan
Stanley
&
Co
(b)
1
Day
Federal
Funds
Rate
plus/less
spread
Total
return
on
a
custom
basket
of
long
and
short
securities
traded
in
USD
Monthly
09/06/2028
75,621‌
—‌
—‌
(336‌)
Total
$
—‌
$
42‌
$
(611‌)
Amounts
in
thousands.
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
94
Description
Shares
Notional
Amount
%
of
Total
Absolute
Notional
Amount
Webster
Financial
Corp
52,755
$
3,836
12.05%
Electronic
Arts
Inc
17,172
3,464
10.87%
Chart
Industries
Inc
13,046
2,711
8.51%
Union
Pacific
Corp
(8,966)
(2,355
)
(7.39)%
Clearwater
Analytics
Holdings
Inc
84,119
2,047
6.43%
Warner
Bros
Discovery
Inc
70,600
1,907
5.99%
Keurig
Dr
Pepper
Inc
58,919
1,769
5.55%
Intertek
Group
PLC
24,408
1,749
5.49%
DigitalBridge
Group
Inc
79,173
1,238
3.89%
Banco
Santander
SA
(95,147)
(1,187
)
(3.73)%
Beazley
PLC
65,741
1,134
3.56%
Cintas
Corp
(6,145)
(1,052
)
(3.30)%
Siemens
AG
3,200
1,007
3.16%
Schroders
PLC
125,346
986
3.09%
Shell
PLC
(10,099)
(850
)
(2.67)%
Telecom
Italia
SpA/Milano
957,433
814
2.55%
Skyworks
Solutions
Inc
(9,412)
(733
)
(2.30)%
Honeywell
International
Inc
2,700
642
2.02%
Poste
Italiane
SpA
(20,874)
(617
)
(1.94)%
Vivendi
SE
193,806
531
1.67%
Universal
Music
Group
NV
(12,665)
(288
)
(0.90)%
Kimberly-Clark
Corp
(2,504)
(244
)
(0.77)%
Kraft
Heinz
Co/The
7,459
179
0.56%
QXO
Inc
(8,343)
(144
)
(0.45)%
Boston
Scientific
Corp
(1,911)
(92
)
(0.29)%
Norfolk
Southern
Corp
216
66
0.21%
Somnigroup
International
Inc
(853)
(60
)
(0.19)%
CoinShares
PLC
12,045
60
0.19%
Charter
Communications
Inc
(235)
(34
)
(0.11)%
Secure
Waste
Infrastructure
Corp
2,219
33
0.10%
GFL
Environmental
Inc
(740)
(25
)
(0.08)%
Transocean
Ltd
(25)
—
0.00%
(a)
Top
Underlying
Securities
WESTGSUSD
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
95
Description
Shares
Notional
Amount
%
of
Total
Absolute
Notional
Amount
Alfa
Laval
AB
(30,685)
$
(1,726
)
(2.28)%
Zimmer
Biomet
Holdings
Inc
(17,145)
(1,412
)
(1.87)%
Snap-on
Inc
(3,703)
(1,375
)
(1.82)%
Qantas
Airways
Ltd
(187,169)
(1,270
)
(1.68)%
Fortive
Corp
(21,628)
(1,261
)
(1.67)%
Investor
AB
-
B
Shares
(28,931)
(1,193
)
(1.58)%
First
Citizens
BancShares
Inc/NC
(598)
(1,190
)
(1.57)%
TELUS
Corp
(93,900)
(1,179
)
(1.56)%
Banque
Cantonale
Vaudoise
(7,829)
(1,179
)
(1.56)%
Packaging
Corp
of
America
(5,342)
(1,169
)
(1.55)%
Diamondback
Energy
Inc
(5,910)
(1,132
)
(1.49)%
Infratil
Ltd
(118,922)
(1,122
)
(1.48)%
Informa
PLC
(101,507)
(1,109
)
(1.46)%
Commonwealth
Bank
of
Australia
(8,432)
(1,000
)
(1.32)%
Daito
Trust
Construction
Co
Ltd
(49,500)
(986
)
(1.30)%
ONEOK
Inc
(11,474)
(963
)
(1.27)%
Daikin
Industries
Ltd
(6,400)
(936
)
(1.24)%
BT
Group
PLC
(328,524)
(924
)
(1.22)%
Dick's
Sporting
Goods
Inc
(3,860)
(878
)
(1.16)%
Whitecap
Resources
Inc
(73,500)
(844
)
(1.12)%
Walmart
Inc
(7,239)
(838
)
(1.11)%
Mitsubishi
HC
Capital
Inc
(97,900)
(800
)
(1.06)%
Restaurant
Brands
International
Inc
(9,500)
(711
)
(0.94)%
Antofagasta
PLC
(12,651)
(698
)
(0.92)%
Solventum
Corp
(9,068)
(680
)
(0.90)%
RB
Global
Inc
(6,300)
(670
)
(0.89)%
Hikari
Tsushin
Inc
(2,900)
(666
)
(0.88)%
Hulic
Co
Ltd
(60,800)
(649
)
(0.86)%
STERIS
PLC
(3,004)
(639
)
(0.84)%
Siemens
AG
(2,028)
(638
)
(0.85)%
Keppel
Ltd
(74,800)
(631
)
(0.83)%
Toho
Co
Ltd/Tokyo
(81,000)
(625
)
(0.83)%
Japan
Exchange
Group
Inc
(50,000)
(613
)
(0.81)%
Svenska
Handelsbanken
AB
(40,577)
(600
)
(0.79)%
Denso
Corp
(49,200)
(589
)
(0.78)%
Pro
Medicus
Ltd
(6,192)
(589
)
(0.78)%
GE
HealthCare
Technologies
Inc
(9,268)
(578
)
(0.76)%
Kraft
Heinz
Co/The
(24,000)
(576
)
(0.76)%
J
Sainsbury
PLC
(143,028)
(571
)
(0.76)%
Beiersdorf
AG
(7,060)
(570
)
(0.75)%
Holmen
AB
(17,009)
(566
)
(0.75)%
MTR
Corp
Ltd
(140,500)
(565
)
(0.75)%
Corteva
Inc
(7,217)
(565
)
(0.75)%
Palo
Alto
Networks
Inc
(2,003)
(564
)
(0.75)%
Paychex
Inc
(5,806)
(563
)
(0.74)%
International
Flavors
&
Fragrances
Inc
(7,399)
(563
)
(0.74)%
Ingersoll
Rand
Inc
(7,843)
(562
)
(0.74)%
Graco
Inc
(7,428)
(560
)
(0.74)%
Delta
Air
Lines
Inc
(6,786)
(560
)
(0.74)%
SoftBank
Group
Corp
(11,700)
(550
)
(0.73)%
(b)
Top
Underlying
Securities
LACEBSUSD
Consolidated
Schedule
of
Investments
Global
Multi-Strategy
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
96
Short
Sales
Outstanding
COMMON
STOCKS
-
(0.12)%
Shares
Value
(000's)
Banks
-
(0.01)%
Banco
Santander
SA
ADR
5,890‌
$
73‌
Media
-
0.00%
Charter
Communications
Inc
32‌
5‌
Oil
&
Gas
-
(0.11)%
Shell
PLC
ADR
7,125‌
599‌
TOTAL
COMMON
STOCKS
(proceeds
$683)
$
677‌
TOTAL
SHORT
SALES
(proceeds
$683)
$
677‌
Schedule
of
Investments
International
Equity
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
97
INVESTMENT
COMPANIES
-
2
.37
%
Shares
Held
Value
(000's)
Exchange-Traded
Funds
-
1
.46
%
iShares
MSCI
EAFE
ETF
156,974‌
$
16,451‌
Money
Market
Funds
-
0
.91
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
775,723‌
776‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(b),(c)
9,417,037‌
9,417‌
$
10,193‌
TOTAL
INVESTMENT
COMPANIES
$
26,644‌
COMMON
STOCKS
-
97
.46
%
Shares
Held
Value
(000's)
Advertising
-
0
.10
%
Publicis
Groupe
SA
11,687‌
$
1,137‌
Aerospace
&
Defense
-
3
.40
%
Airbus
SE
30,340‌
6,336‌
BAE
Systems
PLC
149,591‌
4,070‌
CSG
NV
(d)
7,659‌
161‌
Dassault
Aviation
SA
873‌
310‌
Elbit
Systems
Ltd
1,426‌
1,299‌
Hensoldt
AG
3,183‌
330‌
IHI
Corp
49,700‌
864‌
Kawasaki
Heavy
Industries
Ltd
37,400‌
731‌
Kongsberg
Gruppen
ASA
21,333‌
764‌
Leonardo
SpA
20,664‌
1,312‌
Melrose
Industries
PLC
62,966‌
397‌
MTU
Aero
Engines
AG
2,753‌
1,004‌
Rheinmetall
AG
2,378‌
3,580‌
Rolls-Royce
Holdings
PLC
428,844‌
7,716‌
Saab
AB
16,355‌
1,008‌
Safran
SA
17,623‌
6,268‌
Singapore
Technologies
Engineering
Ltd
78,100‌
697‌
Thales
SA
4,732‌
1,328‌
$
38,175‌
Agriculture
-
0
.90
%
British
American
Tobacco
PLC
102,534‌
6,344‌
Imperial
Brands
PLC
37,747‌
1,369‌
Japan
Tobacco
Inc
56,100‌
2,161‌
Wilmar
International
Ltd
81,800‌
230‌
$
10,104‌
Airlines
-
0
.19
%
ANA
Holdings
Inc
(e)
8,000‌
150‌
Deutsche
Lufthansa
AG
30,041‌
299‌
International
Consolidated
Airlines
Group
SA
59,208‌
341‌
Qantas
Airways
Ltd
37,147‌
251‌
Ryanair
Holdings
PLC
21,320‌
622‌
Singapore
Airlines
Ltd
79,000‌
420‌
$
2,083‌
Apparel
-
1
.17
%
Adidas
AG
8,272‌
1,598‌
Asics
Corp
34,800‌
1,057‌
Hermes
International
SCA
1,321‌
2,469‌
Kering
SA
3,642‌
1,073‌
LVMH
Moet
Hennessy
Louis
Vuitton
SE
12,706‌
6,949‌
$
13,146‌
Automobile
Manufacturers
-
2
.10
%
Bayerische
Motoren
Werke
AG
14,326‌
1,247‌
Daimler
Truck
Holding
AG
23,455‌
1,148‌
Ferrari
NV
6,188‌
2,126‌
Honda
Motor
Co
Ltd
185,000‌
1,662‌
Isuzu
Motors
Ltd
26,700‌
392‌
Mercedes-Benz
Group
AG
36,874‌
2,239‌
Nissan
Motor
Co
Ltd
(d)
118,500‌
295‌
Renault
SA
9,630‌
329‌
Stellantis
NV
(d)
103,562‌
827‌
Subaru
Corp
26,500‌
402‌
Suzuki
Motor
Corp
80,300‌
995‌
Toyota
Motor
Corp
483,900‌
9,154‌
Volvo
AB
-
B
Shares
79,618‌
2,803‌
$
23,619‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Automobile
Parts
&
Equipment
-
0
.62
%
Aisin
Corp
23,300‌
$
353‌
Bridgestone
Corp
54,600‌
1,175‌
Cie
Generale
des
Etablissements
Michelin
SCA
31,597‌
1,154‌
Continental
AG
5,511‌
456‌
Denso
Corp
85,500‌
1,017‌
Sumitomo
Electric
Industries
Ltd
36,500‌
2,815‌
$
6,970‌
Banks
-
16
.00
%
ABN
AMRO
Bank
NV
31,524‌
1,253‌
AIB
Group
PLC
107,054‌
1,260‌
ANZ
Group
Holdings
Ltd
153,904‌
3,897‌
Banca
Mediolanum
SpA
10,467‌
242‌
Banca
Monte
dei
Paschi
di
Siena
SpA
96,963‌
1,043‌
Banco
Bilbao
Vizcaya
Argentaria
SA
287,670‌
6,719‌
Banco
BPM
SpA
58,024‌
912‌
Banco
Comercial
Portugues
SA
415,774‌
471‌
Banco
de
Sabadell
SA
243,682‌
824‌
Banco
Santander
SA
731,281‌
9,145‌
Bank
Hapoalim
BM
66,890‌
1,715‌
Bank
Leumi
Le-Israel
BM
75,455‌
1,909‌
Bank
of
Ireland
Group
PLC
48,537‌
986‌
Bankinter
SA
32,127‌
540‌
Banque
Cantonale
Vaudoise
(e)
1,511‌
227‌
Barclays
PLC
698,680‌
4,268‌
BAWAG
Group
AG
(f)
3,736‌
670‌
BNP
Paribas
SA
50,623‌
5,457‌
BOC
Hong
Kong
Holdings
Ltd
189,500‌
1,158‌
BPER
Banca
SPA
79,890‌
1,082‌
CaixaBank
SA
179,335‌
2,421‌
Chiba
Bank
Ltd/The
28,100‌
411‌
Commerzbank
AG
(e)
33,102‌
1,425‌
Commonwealth
Bank
of
Australia
85,446‌
10,127‌
Computershare
Ltd
26,080‌
646‌
Credit
Agricole
SA
46,350‌
893‌
Danske
Bank
A/S
31,975‌
1,682‌
DBS
Group
Holdings
Ltd
105,270‌
5,185‌
Deutsche
Bank
AG
92,676‌
3,003‌
DNB
Bank
ASA
41,495‌
1,290‌
Erste
Group
Bank
AG
15,721‌
1,874‌
FinecoBank
Banca
Fineco
SpA
30,640‌
748‌
HSBC
Holdings
PLC
877,407‌
16,476‌
ING
Groep
NV
149,112‌
4,619‌
Intesa
Sanpaolo
SpA
711,297‌
4,807‌
Israel
Discount
Bank
Ltd
61,287‌
679‌
Japan
Post
Bank
Co
Ltd
91,300‌
1,759‌
KBC
Group
NV
11,729‌
1,556‌
Lloyds
Banking
Group
PLC
2,990,276‌
4,090‌
Macquarie
Group
Ltd
18,487‌
3,170‌
Mitsubishi
UFJ
Financial
Group
Inc
545,400‌
10,250‌
Mizrahi
Tefahot
Bank
Ltd
7,815‌
599‌
Mizuho
Financial
Group
Inc
120,780‌
5,429‌
National
Australia
Bank
Ltd
156,630‌
4,204‌
NatWest
Group
PLC
407,491‌
3,277‌
Nordea
Bank
Abp
156,781‌
3,004‌
Oversea-Chinese
Banking
Corp
Ltd
167,100‌
3,067‌
Raiffeisen
Bank
International
AG
6,591‌
378‌
Resona
Holdings
Inc
106,100‌
1,354‌
Skandinaviska
Enskilda
Banken
AB
74,723‌
1,493‌
Societe
Generale
SA
32,625‌
2,712‌
Standard
Chartered
PLC
90,885‌
2,434‌
Sumitomo
Mitsui
Financial
Group
Inc
185,600‌
6,769‌
Sumitomo
Mitsui
Trust
Group
Inc
31,788‌
1,095‌
Svenska
Handelsbanken
AB
69,510‌
1,026‌
Swedbank
AB
41,905‌
1,547‌
UBS
Group
AG
162,089‌
7,655‌
UniCredit
SpA
69,296‌
5,981‌
United
Overseas
Bank
Ltd
61,600‌
1,815‌
Westpac
Banking
Corp
174,639‌
4,515‌
Schedule
of
Investments
International
Equity
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
98
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Banks
(continued)
Yokohama
Financial
Group
Inc
49,600‌
$
506‌
$
179,749‌
Beverages
-
1
.09
%
Anheuser-Busch
InBev
SA/NV
45,882‌
3,674‌
Asahi
Group
Holdings
Ltd
71,900‌
686‌
Carlsberg
AS
4,710‌
633‌
Coca-Cola
Europacific
Partners
PLC
10,249‌
930‌
Coca-Cola
HBC
AG
(d)
10,235‌
587‌
Davide
Campari-Milano
NV
30,843‌
201‌
Diageo
PLC
113,687‌
2,331‌
Heineken
Holding
NV
6,136‌
443‌
Heineken
NV
14,705‌
1,148‌
Kirin
Holdings
Co
Ltd
38,800‌
660‌
Pernod
Ricard
SA
10,111‌
745‌
Suntory
Beverage
&
Food
Ltd
6,900‌
186‌
$
12,224‌
Biotechnology
-
0
.52
%
Argenx
SE
(d)
3,160‌
2,641‌
CSL
Ltd
24,781‌
1,721‌
Financiere
de
Tubize
SA
1,004‌
263‌
Genmab
A/S
(d)
3,058‌
802‌
Swedish
Orphan
Biovitrum
AB
(d)
9,125‌
437‌
$
5,864‌
Building
Materials
-
1
.53
%
AGC
Inc
9,700‌
422‌
Belimo
Holding
AG
493‌
520‌
Buzzi
SpA
3,860‌
209‌
Cie
de
Saint-Gobain
SA
22,739‌
2,061‌
Daikin
Industries
Ltd
13,500‌
1,944‌
Geberit
AG
1,645‌
1,078‌
Heidelberg
Materials
AG
6,705‌
1,484‌
Holcim
AG
(d)
26,051‌
2,564‌
Kingspan
Group
PLC
7,670‌
701‌
Mitsubishi
Electric
Corp
97,100‌
3,947‌
Nibe
Industrier
AB
75,926‌
297‌
ROCKWOOL
A/S
4,851‌
152‌
Sika
AG
7,784‌
1,519‌
Svenska
Cellulosa
AB
SCA
30,483‌
335‌
$
17,233‌
Chemicals
-
2
.09
%
Air
Liquide
SA
29,579‌
6,111‌
Akzo
Nobel
NV
7,860‌
597‌
Asahi
Kasei
Corp
62,800‌
704‌
BASF
SE
45,572‌
2,699‌
Brenntag
SE
5,898‌
388‌
DSM-Firmenich
AG
8,418‌
707‌
EMS-Chemie
Holding
AG
352‌
321‌
Evonik
Industries
AG
12,840‌
252‌
Givaudan
SA
471‌
1,748‌
ICL
Group
Ltd
36,245‌
238‌
Mitsubishi
Chemical
Group
Corp
61,400‌
441‌
Nippon
Paint
Holdings
Co
Ltd
47,300‌
314‌
Nippon
Sanso
Holdings
Corp
8,600‌
333‌
Nitto
Denko
Corp
33,900‌
635‌
Novonesis
Novozymes
B
17,992‌
1,045‌
Resonac
Holdings
Corp
9,000‌
1,058‌
Shin-Etsu
Chemical
Co
Ltd
83,700‌
4,063‌
Syensqo
SA
3,645‌
285‌
Symrise
AG
6,652‌
611‌
Toray
Industries
Inc
65,300‌
488‌
Yara
International
ASA
8,294‌
450‌
$
23,488‌
Commercial
Services
-
1
.88
%
Adyen
NV
(d),(f)
1,369‌
1,500‌
Ayvens
SA
(f)
17,671‌
237‌
Brambles
Ltd
68,038‌
811‌
Bureau
Veritas
SA
16,222‌
491‌
Dai
Nippon
Printing
Co
Ltd
18,600‌
323‌
Experian
PLC
45,970‌
1,588‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Commercial
Services
(continued)
Intertek
Group
PLC
7,711‌
$
548‌
Recruit
Holdings
Co
Ltd
67,600‌
4,520‌
RELX
PLC
91,229‌
2,977‌
Rentokil
Initial
PLC
126,557‌
761‌
Secom
Co
Ltd
20,200‌
805‌
Securitas
AB
24,639‌
411‌
SGS
SA
8,454‌
961‌
Sunbelt
Rentals
Holdings
Inc
20,858‌
1,635‌
TOPPAN
Holdings
Inc
11,600‌
332‌
Transurban
Group
159,315‌
1,714‌
Verisure
PLC
(d)
12,950‌
172‌
Wise
Group
PLC
(d)
36,660‌
459‌
Wolters
Kluwer
NV
11,650‌
828‌
$
21,073‌
Computers
-
0
.65
%
Capgemini
SE
7,809‌
928‌
Check
Point
Software
Technologies
Ltd
(d)
3,992‌
539‌
Fujitsu
Ltd
86,700‌
1,847‌
Indra
Sistemas
SA
3,983‌
265‌
Logitech
International
SA
7,389‌
898‌
NEC
Corp
62,700‌
1,625‌
Nomura
Research
Institute
Ltd
18,743‌
600‌
Obic
Co
Ltd
16,100‌
406‌
Otsuka
Corp
11,400‌
207‌
$
7,315‌
Consumer
Products
-
0
.21
%
Henkel
AG
&
Co
KGaA
4,643‌
337‌
Reckitt
Benckiser
Group
PLC
32,788‌
2,018‌
$
2,355‌
Cosmetics
&
Personal
Care
-
1
.47
%
Beiersdorf
AG
4,645‌
373‌
Essity
AB
29,220‌
820‌
Haleon
PLC
454,808‌
2,053‌
Kao
Corp
23,100‌
885‌
L'Oreal
SA
12,264‌
5,411‌
Shiseido
Co
Ltd
19,900‌
351‌
Unicharm
Corp
55,800‌
332‌
Unilever
PLC
111,563‌
6,287‌
$
16,512‌
Distribution
&
Wholesale
-
1
.81
%
AddTech
AB
13,022‌
464‌
Bunzl
PLC
16,243‌
513‌
D'ieteren
Group
1,077‌
215‌
ITOCHU
Corp
283,200‌
3,424‌
Marubeni
Corp
72,000‌
2,354‌
Mitsubishi
Corp
154,300‌
4,879‌
Mitsui
&
Co
Ltd
120,700‌
4,012‌
Rexel
SA
11,125‌
475‌
SGH
Ltd
10,194‌
301‌
Sumitomo
Corp
51,800‌
2,284‌
Toyota
Tsusho
Corp
32,500‌
1,416‌
$
20,337‌
Diversified
Financial
Services
-
1
.65
%
AerCap
Holdings
NV
8,228‌
1,147‌
Amundi
SA
(f)
3,102‌
302‌
ASX
Ltd
9,733‌
323‌
Daiwa
Securities
Group
Inc
64,100‌
603‌
Deutsche
Boerse
AG
9,274‌
2,672‌
Euronext
NV
(f)
3,897‌
633‌
Futu
Holdings
Ltd
ADR
2,508‌
261‌
Hong
Kong
Exchanges
&
Clearing
Ltd
61,500‌
3,140‌
Japan
Exchange
Group
Inc
49,000‌
599‌
Julius
Baer
Group
Ltd
10,518‌
861‌
London
Stock
Exchange
Group
PLC
22,760‌
2,754‌
Mitsubishi
HC
Capital
Inc
43,900‌
359‌
Nomura
Holdings
Inc
150,500‌
1,213‌
ORIX
Corp
55,900‌
2,180‌
SBI
Holdings
Inc
26,980‌
494‌
Schroders
PLC
41,122‌
322‌
Schedule
of
Investments
International
Equity
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
99
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Diversified
Financial
Services
(continued)
Singapore
Exchange
Ltd
41,000‌
$
703‌
$
18,566‌
Electric
-
3
.07
%
BKW
AG
1,060‌
200‌
Chubu
Electric
Power
Co
Inc
34,100‌
626‌
CLP
Holdings
Ltd
84,000‌
820‌
Contact
Energy
Ltd
47,832‌
273‌
E.ON
SE
114,635‌
2,433‌
EDP
Renewables
SA
15,944‌
264‌
EDP
SA
149,545‌
762‌
Elia
Group
SA/NV
2,186‌
340‌
Endesa
SA
15,913‌
665‌
Enel
SpA
389,331‌
4,369‌
Engie
SA
90,871‌
2,803‌
Enlight
Renewable
Energy
Ltd
(d)
7,107‌
766‌
Fortum
Oyj
22,476‌
525‌
Hikari
Tsushin
Inc
900‌
206‌
Iberdrola
SA
310,548‌
7,050‌
Kansai
Electric
Power
Co
Inc/The
48,400‌
709‌
Meridian
Energy
Ltd
66,102‌
232‌
National
Grid
PLC
(e)
253,942‌
4,076‌
OPC
Energy
Ltd
(d)
8,705‌
381‌
Origin
Energy
Ltd
86,311‌
673‌
Orsted
AS
(d),(f)
23,611‌
602‌
Power
Assets
Holdings
Ltd
69,000‌
529‌
Redeia
Corp
SA
20,330‌
349‌
RWE
AG
29,435‌
1,871‌
SSE
PLC
61,894‌
1,936‌
Terna
-
Rete
Elettrica
Nazionale
70,491‌
810‌
Verbund
AG
3,412‌
229‌
$
34,499‌
Electrical
Components
&
Equipment
-
2
.27
%
ABB
Ltd
80,027‌
8,557‌
Fujikura
Ltd
77,100‌
2,298‌
Furukawa
Electric
Co
Ltd
3,300‌
1,079‌
Legrand
SA
13,140‌
2,258‌
Prysmian
SpA
14,378‌
2,477‌
Schneider
Electric
SE
27,994‌
8,792‌
$
25,461‌
Electronics
-
1
.61
%
Assa
Abloy
AB
50,216‌
1,803‌
Halma
PLC
19,020‌
1,195‌
Hoya
Corp
17,300‌
2,938‌
Ibiden
Co
Ltd
11,900‌
1,711‌
Kyocera
Corp
59,700‌
1,305‌
MINEBEA
MITSUMI
Inc
16,900‌
484‌
Murata
Manufacturing
Co
Ltd
82,700‌
5,209‌
SCREEN
Holdings
Co
Ltd
7,900‌
551‌
TDK
Corp
97,200‌
2,518‌
Yokogawa
Electric
Corp
11,300‌
355‌
$
18,069‌
Energy
-
Alternate
Sources
-
0
.12
%
Vestas
Wind
Systems
A/S
48,985‌
1,374‌
Engineering
&
Construction
-
1
.31
%
Acciona
SA
1,238‌
355‌
ACS
Actividades
de
Construccion
y
Servicios
SA
9,016‌
1,307‌
Aena
SME
SA
(f)
38,295‌
1,111‌
Aeroports
de
Paris
SA
1,736‌
233‌
Auckland
International
Airport
Ltd
84,927‌
420‌
Bouygues
SA
11,313‌
662‌
Cellnex
Telecom
SA
(d),(f)
23,933‌
801‌
CK
Infrastructure
Holdings
Ltd
31,500‌
238‌
Eiffage
SA
3,438‌
498‌
Ferrovial
NV
24,213‌
1,656‌
Ferrovial
NV
-
Rights
(d)
25,734‌
17‌
HOCHTIEF
AG
780‌
441‌
Kajima
Corp
20,200‌
746‌
Keppel
Ltd
72,800‌
614‌
Obayashi
Corp
31,800‌
645‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Engineering
&
Construction
(continued)
Shimizu
Corp
25,100‌
$
422‌
Skanska
AB
17,049‌
461‌
Taisei
Corp
7,300‌
640‌
Vinci
SA
23,784‌
3,459‌
$
14,726‌
Entertainment
-
0
.38
%
Aristocrat
Leisure
Ltd
27,722‌
996‌
CTS
Eventim
AG
&
Co
KGaA
3,127‌
226‌
Evolution
AB
(d),(f)
6,264‌
470‌
Lottery
Corp
Ltd/The
111,512‌
433‌
Oriental
Land
Co
Ltd/Japan
54,000‌
777‌
Toho
Co
Ltd/Tokyo
26,400‌
203‌
Universal
Music
Group
NV
51,631‌
1,159‌
$
4,264‌
Food
-
2
.87
%
Aeon
Co
Ltd
111,400‌
975‌
Ajinomoto
Co
Inc
43,800‌
1,415‌
Barry
Callebaut
AG
180‌
278‌
Carrefour
SA
29,512‌
551‌
Chocoladefabriken
Lindt
&
Spruengli
AG
-
PC
48‌
572‌
Chocoladefabriken
Lindt
&
Spruengli
AG
-
REG
5‌
611‌
Coles
Group
Ltd
68,580‌
1,069‌
Danone
SA
32,183‌
2,288‌
J
Sainsbury
PLC
86,117‌
342‌
Jeronimo
Martins
SGPS
SA
14,186‌
300‌
Kerry
Group
PLC
8,061‌
691‌
Kesko
Oyj
13,683‌
332‌
Kikkoman
Corp
33,900‌
296‌
Koninklijke
Ahold
Delhaize
NV
45,150‌
1,902‌
Lotus
Bakeries
NV
(e)
21‌
269‌
Magnum
Ice
Cream
Co
NV/The
(d)
24,538‌
398‌
Marks
&
Spencer
Group
PLC
103,065‌
492‌
Mowi
ASA
22,212‌
489‌
Nestle
SA
131,556‌
13,348‌
Orkla
ASA
(d)
37,071‌
391‌
Salmar
ASA
3,391‌
211‌
Seven
&
i
Holdings
Co
Ltd
96,500‌
1,124‌
Tesco
PLC
326,025‌
1,890‌
WH
Group
Ltd
(f)
393,500‌
454‌
Woolworths
Group
Ltd
62,375‌
1,577‌
$
32,265‌
Food
Service
-
0
.27
%
Compass
Group
PLC
1,632‌
70‌
Compass
Group
PLC
85,192‌
2,777‌
Sodexo
SA
3,953‌
217‌
$
3,064‌
Forest
Products
&
Paper
-
0
.07
%
UPM-Kymmene
Oyj
26,440‌
772‌
Gas
-
0
.33
%
Centrica
PLC
230,704‌
582‌
Hong
Kong
&
China
Gas
Co
Ltd
559,387‌
512‌
Italgas
SpA
30,531‌
358‌
Naturgy
Energy
Group
SA
21,041‌
697‌
Osaka
Gas
Co
Ltd
17,300‌
581‌
Sembcorp
Industries
Ltd
(e)
44,700‌
224‌
Snam
SpA
101,029‌
738‌
$
3,692‌
Hand
&
Machine
Tools
-
0
.34
%
Fuji
Electric
Co
Ltd
7,000‌
679‌
Makita
Corp
11,000‌
382‌
NIDEC
CORP
41,800‌
733‌
Schindler
Holding
AG
-
PC
2,040‌
687‌
Schindler
Holding
AG
-
REG
1,025‌
336‌
Techtronic
Industries
Co
Ltd
70,000‌
1,039‌
$
3,856‌
Schedule
of
Investments
International
Equity
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
100
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Healthcare
-
Products
-
1
.22
%
Alcon
AG
25,514‌
$
1,698‌
Cochlear
Ltd
3,276‌
236‌
Coloplast
A/S
6,320‌
388‌
Demant
A/S
(d)
4,325‌
168‌
EssilorLuxottica
SA
15,376‌
3,108‌
Fisher
&
Paykel
Healthcare
Corp
Ltd
29,422‌
656‌
FUJIFILM
Holdings
Corp
57,100‌
1,187‌
Koninklijke
Philips
NV
39,333‌
1,044‌
Lifco
AB
10,820‌
348‌
Olympus
Corp
54,000‌
605‌
QIAGEN
NV
10,360‌
382‌
Sartorius
Stedim
Biotech
1,463‌
303‌
Siemens
Healthineers
AG
(f)
16,954‌
689‌
Smith
&
Nephew
PLC
39,243‌
585‌
Sonova
Holding
AG
2,540‌
670‌
Straumann
Holding
AG
5,593‌
676‌
Terumo
Corp
68,000‌
1,023‌
$
13,766‌
Healthcare
-
Services
-
0
.41
%
BioMerieux
2,076‌
179‌
Eurofins
Scientific
SE
5,933‌
432‌
Fresenius
Medical
Care
AG
9,738‌
422‌
Fresenius
SE
&
Co
KGaA
21,569‌
911‌
Lonza
Group
AG
3,585‌
2,290‌
Sonic
Healthcare
Ltd
23,522‌
329‌
$
4,563‌
Holding
Companies
-
Diversified
-
0
.06
%
Jardine
Matheson
Holdings
Ltd
8,068‌
536‌
Swire
Pacific
Ltd
17,500‌
182‌
$
718‌
Home
Builders
-
0
.07
%
Daiwa
House
Industry
Co
Ltd
28,600‌
778‌
Home
Furnishings
-
0
.83
%
Panasonic
Holdings
Corp
119,100‌
2,752‌
Rational
AG
257‌
197‌
Sony
Group
Corp
298,300‌
6,434‌
$
9,383‌
Insurance
-
5
.42
%
Admiral
Group
PLC
13,044‌
577‌
Aegon
Ltd
63,052‌
535‌
Ageas
SA/NV
7,476‌
579‌
AIA
Group
Ltd
536,600‌
5,629‌
Allianz
SE
19,424‌
8,608‌
ASR
Nederland
NV
7,858‌
588‌
Aviva
PLC
153,196‌
1,261‌
AXA
SA
80,060‌
3,692‌
Daiichi
Life
Group
Inc
176,000‌
1,798‌
Generali
41,544‌
1,871‌
Gjensidige
Forsikring
ASA
10,019‌
276‌
Hannover
Rueck
SE
3,079‌
831‌
Harel
Insurance
Investments
&
Financial
Services
Ltd
6,041‌
384‌
Helvetia
Baloise
Holding
AG
3,986‌
1,034‌
Insurance
Australia
Group
Ltd
114,000‌
627‌
Japan
Post
Holdings
Co
Ltd
86,100‌
1,117‌
Japan
Post
Insurance
Co
Ltd
27,800‌
249‌
Legal
&
General
Group
PLC
267,433‌
973‌
M&G
PLC
114,663‌
486‌
Mapfre
SA
46,286‌
216‌
Medibank
Pvt
Ltd
137,977‌
475‌
MS&AD
Insurance
Group
Holdings
Inc
60,900‌
1,630‌
Muenchener
Rueckversicherungs-Gesellschaft
AG
in
Muenchen
6,670‌
3,503‌
NN
Group
NV
13,429‌
1,121‌
Phoenix
Financial
Ltd
11,421‌
754‌
Prudential
PLC
128,876‌
1,834‌
QBE
Insurance
Group
Ltd
76,681‌
1,246‌
Sampo
Oyj
121,992‌
1,288‌
Sompo
Holdings
Inc
41,750‌
1,543‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Insurance
(continued)
Standard
Life
PLC
35,289‌
$
367‌
Suncorp
Group
Ltd
54,252‌
677‌
Swiss
Life
Holding
AG
1,430‌
1,552‌
Swiss
Re
AG
15,254‌
2,286‌
T&D
Holdings
Inc
22,400‌
589‌
Talanx
AG
3,033‌
363‌
Tokio
Marine
Holdings
Inc
91,400‌
4,059‌
Tryg
A/S
15,608‌
367‌
Unipol
Assicurazioni
SpA
17,972‌
444‌
Zurich
Insurance
Group
AG
7,639‌
5,425‌
$
60,854‌
Internet
-
0
.94
%
CAR
Group
Ltd
18,959‌
338‌
Delivery
Hero
SE
(d),(e),(f)
8,531‌
366‌
Grab
Holdings
Ltd
(d)
119,190‌
422‌
LY
Corp
131,800‌
342‌
Prosus
NV
(d)
66,808‌
3,038‌
Rakuten
Group
Inc
(d)
72,000‌
337‌
Scout24
SE
(f)
3,565‌
300‌
Sea
Ltd
ADR
(d)
19,197‌
1,738‌
Spotify
Technology
SA
(d)
7,489‌
3,727‌
$
10,608‌
Investment
Companies
-
0
.59
%
Eurazeo
SE
1‌
—‌
EXOR
NV
4,684‌
365‌
Groupe
Bruxelles
Lambert
NV
3,741‌
352‌
Industrivarden
AB
-
A
Shares
5,426‌
308‌
Industrivarden
AB
-
C
Shares
8,191‌
448‌
Infratil
Ltd
45,922‌
432‌
Investment
AB
Latour
7,418‌
160‌
Investor
AB
-
B
Shares
88,376‌
3,631‌
L
E
Lundbergforetagen
AB
3,806‌
224‌
Sofina
SA
(e)
828‌
215‌
Washington
H
Soul
Pattinson
&
Co
Ltd
17,130‌
535‌
$
6,670‌
Iron
&
Steel
-
0
.36
%
ArcelorMittal
SA
21,765‌
1,498‌
Fortescue
Ltd
82,535‌
1,326‌
JFE
Holdings
Inc
(e)
28,700‌
307‌
Nippon
Steel
Corp
246,985‌
879‌
$
4,010‌
Leisure
Products
&
Services
-
0
.19
%
Amadeus
IT
Group
SA
22,571‌
1,440‌
Shimano
Inc
3,600‌
372‌
Yamaha
Motor
Co
Ltd
(e)
45,800‌
377‌
$
2,189‌
Lodging
-
0
.20
%
Accor
SA
9,407‌
512‌
Galaxy
Entertainment
Group
Ltd
98,000‌
390‌
InterContinental
Hotels
Group
PLC
7,219‌
1,107‌
Sands
China
Ltd
121,200‌
237‌
$
2,246‌
Machinery
-
Construction
&
Mining
-
2
.20
%
Epiroc
AB
-
A
Shares
31,546‌
933‌
Epiroc
AB
-
B
Shares
19,538‌
499‌
Hitachi
Ltd
225,800‌
7,309‌
Komatsu
Ltd
43,900‌
1,793‌
Metso
Oyj
33,225‌
634‌
Mitsubishi
Heavy
Industries
Ltd
163,600‌
3,867‌
Sandvik
AB
52,841‌
2,149‌
Siemens
Energy
AG
39,571‌
7,491‌
$
24,675‌
Machinery
-
Diversified
-
1
.66
%
Atlas
Copco
AB
-
A
Shares
128,577‌
2,458‌
Atlas
Copco
AB
-
B
Shares
75,713‌
1,282‌
Beijer
Ref
AB
20,488‌
285‌
Daifuku
Co
Ltd
16,200‌
740‌
Ebara
Corp
23,200‌
825‌
Schedule
of
Investments
International
Equity
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
101
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Machinery
-
Diversified
(continued)
FANUC
Corp
47,600‌
$
2,339‌
GEA
Group
AG
7,341‌
473‌
Hexagon
AB
106,009‌
973‌
Keyence
Corp
9,660‌
4,854‌
Kone
Oyj
17,030‌
1,018‌
Kubota
Corp
49,400‌
878‌
SMC
Corp
2,800‌
1,218‌
Spirax
Group
PLC
3,689‌
343‌
Wartsila
OYJ
Abp
25,199‌
1,023‌
$
18,709‌
Media
-
0
.09
%
Informa
PLC
64,503‌
701‌
Pearson
PLC
24,121‌
358‌
$
1,059‌
Metal
Fabrication
&
Hardware
-
0
.18
%
SKF
AB
17,090‌
448‌
Tenaris
SA
16,421‌
500‌
VAT
Group
AG
(f)
1,379‌
1,077‌
$
2,025‌
Mining
-
3
.25
%
Anglo
American
PLC
54,135‌
2,897‌
Antofagasta
PLC
17,618‌
971‌
BHP
Group
Ltd
259,454‌
11,550‌
Boliden
AB
14,513‌
904‌
Endeavour
Mining
PLC
10,891‌
669‌
Evolution
Mining
Ltd
103,707‌
914‌
Fresnillo
PLC
9,406‌
413‌
Glencore
PLC
(d)
479,362‌
3,646‌
JX
Advanced
Metals
Corp
27,800‌
686‌
Lynas
Rare
Earths
Ltd
(d)
45,384‌
624‌
Mitsui
Kinzoku
Co
Ltd
2,800‌
908‌
Norsk
Hydro
ASA
65,664‌
803‌
Northern
Star
Resources
Ltd
69,419‌
946‌
PLS
Group
Ltd
(d)
159,062‌
741‌
Rio
Tinto
Ltd
18,985‌
2,539‌
Rio
Tinto
PLC
54,466‌
5,785‌
South32
Ltd
224,777‌
780‌
Sumitomo
Metal
Mining
Co
Ltd
12,300‌
697‌
$
36,473‌
Miscellaneous
Manufacturers
-
1
.31
%
Alfa
Laval
AB
14,773‌
829‌
Alstom
SA
(d)
17,360‌
346‌
Indutrade
AB
13,688‌
286‌
Knorr-Bremse
AG
3,292‌
398‌
Siemens
AG
37,932‌
11,893‌
Smiths
Group
PLC
15,902‌
525‌
Trelleborg
AB
10,161‌
443‌
$
14,720‌
Office
&
Business
Equipment
-
0
.10
%
Canon
Inc
40,900‌
1,088‌
Oil
&
Gas
-
3
.56
%
Aker
BP
ASA
15,831‌
570‌
Bollore
SE
31,562‌
200‌
BP
PLC
801,722‌
5,663‌
ENEOS
Holdings
Inc
131,330‌
1,076‌
Eni
SpA
92,764‌
2,427‌
Equinor
ASA
35,901‌
1,298‌
Galp
Energia
SGPS
SA
20,903‌
455‌
Idemitsu
Kosan
Co
Ltd
38,605‌
339‌
Inpex
Corp
45,000‌
1,012‌
Neste
Oyj
21,196‌
697‌
OMV
AG
7,378‌
531‌
Repsol
SA
56,532‌
1,460‌
Santos
Ltd
165,830‌
931‌
Shell
PLC
286,742‌
12,116‌
TotalEnergies
SE
100,565‌
8,824‌
Var
Energi
ASA
47,799‌
235‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Oil
&
Gas
(continued)
Woodside
Energy
Group
Ltd
97,069‌
$
2,123‌
$
39,957‌
Packaging
&
Containers
-
0
.03
%
Stora
Enso
Oyj
29,179‌
341‌
Pharmaceuticals
-
7
.52
%
Abivax
SA
(d)
2,733‌
361‌
Astellas
Pharma
Inc
87,800‌
1,251‌
AstraZeneca
PLC
77,213‌
14,336‌
Bayer
AG
50,163‌
2,133‌
Chugai
Pharmaceutical
Co
Ltd
34,400‌
1,701‌
Daiichi
Sankyo
Co
Ltd
87,100‌
1,466‌
Eisai
Co
Ltd
13,000‌
323‌
Galderma
Group
AG
(d)
9,414‌
1,992‌
GSK
PLC
207,137‌
5,238‌
Ipsen
SA
1,712‌
313‌
Kyowa
Kirin
Co
Ltd
11,800‌
185‌
Merck
KGaA
6,599‌
1,005‌
Novartis
AG
93,508‌
14,065‌
Novo
Nordisk
A/S
164,444‌
7,514‌
Orion
Oyj
5,479‌
458‌
Otsuka
Holdings
Co
Ltd
21,700‌
1,594‌
Recordati
Industria
Chimica
e
Farmaceutica
SpA
5,339‌
321‌
Roche
Holding
AG
1,498‌
644‌
Roche
Holding
AG
35,872‌
15,093‌
Sandoz
Group
AG
21,343‌
1,795‌
Sanofi
SA
55,704‌
4,883‌
Shionogi
&
Co
Ltd
38,600‌
726‌
Sigma
Healthcare
Ltd
260,258‌
549‌
Takeda
Pharmaceutical
Co
Ltd
81,300‌
2,595‌
Teva
Pharmaceutical
Industries
Ltd
ADR
(d)
59,454‌
2,100‌
UCB
SA
6,207‌
1,822‌
$
84,463‌
Pipelines
-
0
.04
%
APA
Group
65,891‌
477‌
Private
Equity
-
0
.34
%
3i
Group
PLC
49,767‌
1,512‌
CapitaLand
Investment
Ltd/Singapore
117,200‌
233‌
CVC
Capital
Partners
PLC
(f)
10,651‌
170‌
EQT
AB
22,073‌
759‌
Partners
Group
Holding
AG
1,091‌
1,151‌
$
3,825‌
Real
Estate
-
0
.89
%
Azrieli
Group
Ltd
2,224‌
368‌
CK
Asset
Holdings
Ltd
89,632‌
541‌
Daito
Trust
Construction
Co
Ltd
14,500‌
288‌
Fastighets
AB
Balder
(d)
35,972‌
206‌
Henderson
Land
Development
Co
Ltd
71,982‌
284‌
Hongkong
Land
Holdings
Ltd
49,429‌
377‌
Hulic
Co
Ltd
23,000‌
245‌
Mitsubishi
Estate
Co
Ltd
53,200‌
1,344‌
Mitsui
Fudosan
Co
Ltd
126,700‌
1,213‌
REA
Group
Ltd
2,649‌
283‌
Sagax
AB
11,011‌
199‌
Sekisui
House
Ltd
30,500‌
640‌
Sino
Land
Co
Ltd
193,073‌
291‌
Sumitomo
Realty
&
Development
Co
Ltd
30,400‌
709‌
Sun
Hung
Kai
Properties
Ltd
66,500‌
1,117‌
Swiss
Prime
Site
AG
4,021‌
674‌
Vonovia
SE
36,823‌
918‌
Wharf
Real
Estate
Investment
Co
Ltd
82,000‌
251‌
$
9,948‌
REITs
-
0
.72
%
CapitaLand
Ascendas
REIT
210,150‌
412‌
CapitaLand
Integrated
Commercial
Trust
304,929‌
543‌
Covivio
SA/France
2,797‌
180‌
Gecina
SA
2,309‌
197‌
Goodman
Group
102,446‌
2,328‌
Klepierre
SA
10,778‌
440‌
Schedule
of
Investments
International
Equity
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
102
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
REITs
(continued)
Land
Securities
Group
PLC
38,042‌
$
321‌
Link
REIT
130,940‌
675‌
Nippon
Building
Fund
Inc
391‌
313‌
Scentre
Group
261,348‌
718‌
Segro
PLC
62,211‌
603‌
Stockland
121,361‌
357‌
Unibail-Rodamco-Westfield
(d)
5,520‌
638‌
Vicinity
Ltd
195,881‌
355‌
$
8,080‌
Retail
-
2
.26
%
Associated
British
Foods
PLC
14,428‌
353‌
Avolta
AG
(d)
4,403‌
277‌
Cie
Financiere
Richemont
SA
27,448‌
5,894‌
CK
Hutchison
Holdings
Ltd
137,132‌
1,234‌
Fast
Retailing
Co
Ltd
9,700‌
5,027‌
H
&
M
Hennes
&
Mauritz
AB
21,600‌
383‌
Industria
de
Diseno
Textil
SA
55,697‌
3,433‌
Kingfisher
PLC
85,815‌
331‌
Moncler
SpA
11,226‌
728‌
Next
PLC
5,828‌
1,034‌
Nitori
Holdings
Co
Ltd
20,000‌
328‌
Pan
Pacific
International
Holdings
Corp
95,300‌
524‌
Pandora
A/S
3,957‌
370‌
Ryohin
Keikaku
Co
Ltd
25,200‌
615‌
Swatch
Group
AG/The
-
BR
(e)
1,450‌
401‌
Tokyo
Gas
Co
Ltd
15,100‌
604‌
Wesfarmers
Ltd
57,967‌
3,317‌
Zalando
SE
(d),(f)
11,249‌
304‌
Zensho
Holdings
Co
Ltd
4,700‌
238‌
$
25,395‌
Semiconductors
-
6
.44
%
Advantest
Corp
37,400‌
6,115‌
ASM
International
NV
2,393‌
2,497‌
ASML
Holding
NV
19,811‌
32,033‌
BE
Semiconductor
Industries
NV
3,660‌
1,212‌
Disco
Corp
4,400‌
1,795‌
Infineon
Technologies
AG
66,680‌
6,322‌
Kioxia
Holdings
Corp
(d)
16,000‌
6,589‌
Lasertec
Corp
4,000‌
1,011‌
Nova
Ltd
(d)
1,558‌
811‌
Renesas
Electronics
Corp
88,400‌
2,461‌
STMicroelectronics
NV
32,267‌
2,208‌
Tokyo
Electron
Ltd
22,900‌
7,680‌
Tower
Semiconductor
Ltd
(d)
5,706‌
1,619‌
$
72,353‌
Shipbuilding
-
0
.03
%
Yangzijiang
Shipbuilding
Holdings
Ltd
129,300‌
369‌
Software
-
1
.40
%
Capcom
Co
Ltd
13,700‌
259‌
Dassault
Systemes
SE
33,604‌
737‌
Konami
Group
Corp
4,900‌
582‌
Nebius
Group
NV
(d)
10,311‌
2,383‌
Nemetschek
SE
2,894‌
208‌
Nexon
Co
Ltd
15,200‌
214‌
Octave
Intelligence
PLC
(d)
10,401‌
177‌
Pro
Medicus
Ltd
2,879‌
274‌
Sage
Group
PLC/The
47,827‌
541‌
SAP
SE
53,318‌
9,645‌
WiseTech
Global
Ltd
10,101‌
263‌
Xero
Ltd
(d)
8,512‌
463‌
$
15,746‌
Telecommunications
-
3
.49
%
Airtel
Africa
PLC
(f)
39,123‌
185‌
BT
Group
PLC
292,646‌
821‌
Deutsche
Telekom
AG
175,320‌
5,886‌
Elisa
Oyj
7,124‌
342‌
HKT
Trust
&
HKT
Ltd
173,980‌
269‌
KDDI
Corp
149,700‌
2,573‌
Koninklijke
KPN
NV
195,429‌
1,018‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Telecommunications
(continued)
Millicom
International
Cellular
SA
4,746‌
$
405‌
Nokia
OYJ
256,547‌
3,768‌
NTT
Inc
1,539,600‌
1,444‌
Orange
SA
95,075‌
1,989‌
Singapore
Telecommunications
Ltd
378,600‌
1,288‌
SoftBank
Corp
1,469,300‌
1,985‌
SoftBank
Group
Corp
189,500‌
8,914‌
Swisscom
AG
(d)
1,323‌
1,132‌
Tele2
AB
27,429‌
515‌
Telecom
Italia
SpA/Milano
(d)
855,450‌
727‌
Telefonaktiebolaget
LM
Ericsson
134,959‌
1,760‌
Telefonica
SA
188,185‌
861‌
Telenor
ASA
30,850‌
504‌
Telia
Co
AB
118,201‌
634‌
Telstra
Group
Ltd
197,359‌
739‌
Vodafone
Group
PLC
939,531‌
1,412‌
$
39,171‌
Toys,
Games
&
Hobbies
-
0
.30
%
Bandai
Namco
Holdings
Inc
25,800‌
588‌
Nintendo
Co
Ltd
55,800‌
2,497‌
Sanrio
Co
Ltd
48,900‌
263‌
$
3,348‌
Transportation
-
1
.12
%
AP
Moller
-
Maersk
A/S
-
A
125‌
304‌
AP
Moller
-
Maersk
A/S
-
B
171‌
425‌
Central
Japan
Railway
Co
38,500‌
842‌
Deutsche
Post
AG
46,975‌
2,798‌
DSV
A/S
9,822‌
2,457‌
East
Japan
Railway
Co
49,200‌
1,048‌
Getlink
SE
12,637‌
276‌
Hankyu
Hanshin
Holdings
Inc
11,800‌
347‌
InPost
SA
(d)
12,525‌
224‌
Kawasaki
Kisen
Kaisha
Ltd
(e)
17,500‌
277‌
Kuehne
+
Nagel
International
AG
(e)
2,421‌
558‌
Mitsui
OSK
Lines
Ltd
(e)
17,200‌
591‌
MTR
Corp
Ltd
77,500‌
312‌
Nippon
Yusen
KK
19,800‌
660‌
Poste
Italiane
SpA
22,903‌
676‌
Seibu
Holdings
Inc
10,400‌
184‌
SITC
International
Holdings
Co
Ltd
66,000‌
292‌
West
Japan
Railway
Co
20,300‌
335‌
$
12,606‌
Water
-
0
.22
%
Severn
Trent
PLC
13,575‌
541‌
United
Utilities
Group
PLC
37,930‌
686‌
Veolia
Environnement
SA
30,297‌
1,222‌
$
2,449‌
TOTAL
COMMON
STOCKS
$
1,095,054‌
PREFERRED
STOCKS
-
0
.26
%
Shares
Held
Value
(000's)
Automobile
Manufacturers
-
0
.18
%
Bayerische
Motoren
Werke
AG
4.42%
2,740‌
$
238‌
Dr
Ing
hc
F
Porsche
AG
1.01%
5,703‌
310‌
Porsche
Automobil
Holding
SE
1.51%
7,670‌
292‌
Volkswagen
AG
5.26%
10,529‌
1,124‌
$
1,964‌
Consumer
Products
-
0
.05
%
Henkel
AG
&
Co
KGaA
2.07%
7,732‌
600‌
Electronics
-
0
.03
%
Sartorius
AG
0.74%
(e)
1,313‌
374‌
TOTAL
PREFERRED
STOCKS
$
2,938‌
Total
Investments
$
1,124,636‌
Other
Assets
and
Liabilities
-  (0.09)%
(
969‌
)
TOTAL
NET
ASSETS
-
100.00%
$
1,123,667‌
Schedule
of
Investments
International
Equity
Index
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
103
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$8,516
or
0.76%
of
net
assets.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(d)
Non-income
producing
security
(e)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$6,711
or
0.60%
of
net
assets.
(f)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$9,871
or
0.88%
of
net
assets.
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
8,776‌
$
1,103,671‌
$
1,103,030‌
$
9,417‌
$
8,776‌
$
1,103,671‌
$
1,103,030‌
$
9,417‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
181‌
$
—‌
$
—‌
$
—‌
$
181‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Futures
Contracts
Description
and
Expiration
Date
Type
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/(Depreciation)
eMini
MSCI
EAFE;
June
2026
Long
21‌
$
3,267‌
$
226‌
Total
$
226‌
Amounts
in
thousands
except
contracts.
Schedule
of
Investments
International
Small
Company
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
104
INVESTMENT
COMPANIES
-
3
.23
%
Shares
Held
Value
(000's)
Money
Market
Funds
-
3
.23
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
663,158‌
$
663‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(b),(c)
10,818,315‌
10,818‌
$
11,481‌
TOTAL
INVESTMENT
COMPANIES
$
11,481‌
COMMON
STOCKS
-
98
.08
%
Shares
Held
Value
(000's)
Apparel
-
0
.98
%
Gildan
Activewear
Inc
(d)
57,100‌
$
3,484‌
Automobile
Parts
&
Equipment
-
1
.62
%
Nifco
Inc/Japan
123,100‌
3,492‌
Nisshinbo
Holdings
Inc
151,000‌
2,283‌
$
5,775‌
Banks
-
6
.92
%
Banca
Mediolanum
SpA
212,721‌
4,909‌
Banco
Comercial
Portugues
SA
3,547,354‌
4,018‌
BAWAG
Group
AG
(e)
23,005‌
4,125‌
Judo
Capital
Holdings
Ltd
(f)
2,092,052‌
2,342‌
Mebuki
Financial
Group
Inc
593,500‌
4,962‌
Yokohama
Financial
Group
Inc
417,100‌
4,250‌
$
24,606‌
Beverages
-
1
.16
%
Lifedrink
Co
Inc
189,100‌
2,047‌
Royal
Unibrew
A/S
31,744‌
2,066‌
$
4,113‌
Chemicals
-
3
.20
%
Croda
International
PLC
104,792‌
4,281‌
Fuso
Chemical
Co
Ltd
175,500‌
4,696‌
NOF
Corp
137,600‌
2,408‌
$
11,385‌
Commercial
Services
-
3
.05
%
BOYD
GROUP
INC
35,700‌
3,953‌
Elis
SA
133,230‌
4,202‌
Securitas
AB
162,053‌
2,704‌
$
10,859‌
Computers
-
2
.07
%
BayCurrent
Inc
83,400‌
2,950‌
Computacenter
PLC
73,842‌
4,410‌
$
7,360‌
Distribution
&
Wholesale
-
2
.33
%
Rexel
SA
91,916‌
3,925‌
Sojitz
Corp
128,700‌
4,357‌
$
8,282‌
Diversified
Financial
Services
-
3
.22
%
Credit
Saison
Co
Ltd
89,300‌
2,296‌
flatexDEGIRO
SE
104,898‌
4,119‌
IG
Group
Holdings
PLC
209,722‌
5,057‌
$
11,472‌
Electric
-
3
.52
%
Algonquin
Power
&
Utilities
Corp
637,400‌
3,773‌
Hera
SpA
852,895‌
3,834‌
OPC
Energy
Ltd
(f)
53,775‌
2,352‌
Tohoku
Electric
Power
Co
Inc
407,600‌
2,575‌
$
12,534‌
Electrical
Components
&
Equipment
-
1
.25
%
SWCC
Corp
47,700‌
4,436‌
Electronics
-
5
.62
%
Anritsu
Corp
133,400‌
3,808‌
NKT
A/S
(f)
29,993‌
4,784‌
SCREEN
Holdings
Co
Ltd
55,000‌
3,836‌
Taiyo
Yuden
Co
Ltd
81,700‌
7,581‌
$
20,009‌
Engineering
&
Construction
-
3
.69
%
Balfour
Beatty
PLC
367,985‌
3,930‌
Kandenko
Co
Ltd
109,700‌
4,483‌
Stantec
Inc
28,790‌
2,175‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Engineering
&
Construction
(continued)
Technip
Energies
NV
61,161‌
$
2,523‌
$
13,111‌
Entertainment
-
0
.25
%
Sportradar
Group
AG
(f)
68,311‌
902‌
Environmental
Control
-
0
.88
%
Cleanaway
Waste
Management
Ltd
1,910,129‌
3,145‌
Food
-
3
.39
%
AGT
Food
&
Ingredients
Inc
133,200‌
1,613‌
Cranswick
PLC
55,455‌
4,081‌
Kotobuki
Spirits
Co
Ltd
181,700‌
2,378‌
Toyo
Suisan
Kaisha
Ltd
56,800‌
3,983‌
$
12,055‌
Healthcare
-
Products
-
2
.53
%
Asahi
Intecc
Co
Ltd
101,000‌
2,385‌
Convatec
Group
PLC
(e)
825,704‌
2,240‌
Menicon
Co
Ltd
175,700‌
1,788‌
Smith
&
Nephew
PLC
173,475‌
2,586‌
$
8,999‌
Home
Furnishings
-
0
.76
%
JVCKenwood
Corp
385,200‌
2,688‌
Insurance
-
2
.78
%
ASR
Nederland
NV
41,701‌
3,122‌
AUB
Group
Ltd
136,627‌
2,558‌
Phoenix
Financial
Ltd
63,702‌
4,207‌
$
9,887‌
Internet
-
1
.02
%
Scout24
SE
(e)
43,195‌
3,633‌
Investment
Companies
-
0
.55
%
Rosebank
Industries
PLC
(f)
419,823‌
1,960‌
Iron
&
Steel
-
2
.03
%
Japan
Steel
Works
Ltd/The
51,700‌
2,489‌
thyssenkrupp
AG
347,113‌
4,738‌
$
7,227‌
Leisure
Products
&
Services
-
0
.63
%
Flight
Centre
Travel
Group
Ltd
(d)
286,760‌
2,251‌
Lodging
-
0
.83
%
MGM
China
Holdings
Ltd
2,165,600‌
2,972‌
Machinery
-
Diversified
-
4
.64
%
IMI
PLC
129,764‌
4,847‌
KION
Group
AG
61,703‌
3,146‌
Nabtesco
Corp
118,400‌
4,094‌
Organo
Corp
44,100‌
4,416‌
$
16,503‌
Media
-
0
.90
%
TV
Asahi
Holdings
Corp
162,900‌
3,204‌
Mining
-
7
.77
%
Aris
Mining
Corp
(f)
188,500‌
3,415‌
FireFly
Metals
Ltd
(f)
1,346,840‌
1,991‌
Genesis
Minerals
Ltd
(f)
850,890‌
3,620‌
Novagold
Resources
Inc
(f)
343,200‌
2,950‌
OR
Royalties
Inc
86,800‌
3,235‌
Osisko
Development
Corp
(d),(f)
953,733‌
2,670‌
PLS
Group
Ltd
(f)
1,162,076‌
5,411‌
Solaris
Resources
Inc
(f)
426,300‌
4,354‌
$
27,646‌
Miscellaneous
Manufacturers
-
2
.35
%
Amano
Corp
81,800‌
1,835‌
Chemring
Group
PLC
475,447‌
3,501‌
Trelleborg
AB
69,628‌
3,034‌
$
8,370‌
Office
&
Business
Equipment
-
0
.76
%
Canon
Marketing
Japan
Inc
120,800‌
2,698‌
Oil
&
Gas
-
2
.37
%
ARC
Resources
Ltd
178,200‌
4,034‌
Whitecap
Resources
Inc
383,980‌
4,412‌
$
8,446‌
Schedule
of
Investments
International
Small
Company
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
105
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Oil
&
Gas
Services
-
1
.22
%
SBM
Offshore
NV
113,462‌
$
4,325‌
Packaging
&
Containers
-
0
.96
%
Toyo
Seikan
Group
Holdings
Ltd
139,300‌
3,404‌
Pharmaceuticals
-
1
.70
%
Abivax
SA
ADR
(f)
10,987‌
1,457‌
Ascendis
Pharma
A/S
(f)
8,588‌
1,925‌
Laboratorios
Farmaceuticos
Rovi
SA
23,963‌
1,654‌
Zealand
Pharma
A/S
(f)
20,077‌
1,017‌
$
6,053‌
Pipelines
-
1
.06
%
Gibson
Energy
Inc
182,500‌
3,766‌
Real
Estate
-
2
.87
%
CTP
NV
(e)
185,267‌
3,512‌
TAG
Immobilien
AG
195,589‌
3,236‌
Tokyo
Tatemono
Co
Ltd
169,300‌
3,472‌
$
10,220‌
REITs
-
4
.64
%
Invincible
Investment
Corp
7,405‌
2,848‌
KDX
Realty
Investment
Corp
3,179‌
3,171‌
Keppel
DC
REIT
1,934,096‌
3,500‌
Merlin
Properties
Socimi
SA
248,614‌
4,368‌
Stockland
888,080‌
2,610‌
$
16,497‌
Retail
-
4
.14
%
Food
&
Life
Cos
Ltd
74,000‌
5,042‌
Grafton
Group
PLC
318,269‌
3,564‌
JINS
Holdings
Inc
54,900‌
2,846‌
Monogatari
Corp/The
103,700‌
3,272‌
$
14,724‌
Semiconductors
-
2
.09
%
Nova
Ltd
(f)
7,756‌
3,896‌
Tokyo
Ohka
Kogyo
Co
Ltd
51,000‌
3,524‌
$
7,420‌
Software
-
2
.90
%
Cellebrite
DI
Ltd
(f)
241,017‌
3,550‌
Descartes
Systems
Group
Inc/The
(f)
54,200‌
4,000‌
Embracer
Group
AB
(f)
362,859‌
2,757‌
$
10,307‌
Telecommunications
-
0
.80
%
Gamma
Communications
PLC
221,561‌
2,860‌
Transportation
-
2
.63
%
Hiab
Oyj
52,395‌
3,291‌
Kamigumi
Co
Ltd
102,900‌
3,062‌
Kyushu
Railway
Co
135,300‌
2,990‌
$
9,343‌
TOTAL
COMMON
STOCKS
$
348,931‌
Total
Investments
$
360,412‌
Other
Assets
and
Liabilities
-  (1.31)%
(
4,670‌
)
TOTAL
NET
ASSETS
-
100.00%
$
355,742‌
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$7,263
or
2.04%
of
net
assets.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(d)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$6,972
or
1.96%
of
net
assets.
(e)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$13,510
or
3.80%
of
net
assets.
(f)
Non-income
producing
security
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
6,520‌
$
260,357‌
$
256,059‌
$
10,818‌
$
6,520‌
$
260,357‌
$
256,059‌
$
10,818‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
105‌
$
—‌
$
—‌
$
—‌
$
105‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Schedule
of
Investments
Opportunistic
Municipal
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
106
INVESTMENT
COMPANIES
-
0
.84
%
Shares
Held
Value
(000's)
Exchange-Traded
Funds
-
0
.84
%
iShares
Short-Term
National
Muni
Bond
ETF
1,000‌
$
106‌
JPMorgan
Ultra-Short
Municipal
Income
ETF
6‌
—‌
State
Street
SPDR
Nuveen
ICE
High
Yield
Municipal
Bond
ETF
26,778‌
676‌
VanEck
High
Yield
Muni
ETF
14,241‌
732‌
VanEck
Short
High
Yield
Muni
ETF
1,000‌
23‌
$
1,537‌
TOTAL
INVESTMENT
COMPANIES
$
1,537‌
COMMON
STOCKS
-
0
.02
%
Shares
Held
Value
(000's)
Transportation
-
0
.02
%
BL
Train
Holdings
West
LLC
-
Warrants
(a),(b)
21,024‌
$
40‌
TOTAL
COMMON
STOCKS
$
40‌
MUNICIPAL
BONDS
-
104
.05
%
Principal
Amount
(000's)
Value
(000's)
Alabama
-
7
.06
%
Baldwin
County
Industrial
Development
Authority
4.62%,
06/01/2055
(c),(d)
$
1,000‌
$
1,010‌
County
of
Jefferson
AL
Sewer
Revenue
5.25%,
10/01/2049
1,800‌
1,869‌
Lower
Alabama
Gas
District/The
5.00%,
09/01/2046
3,355‌
3,483‌
Mobile
County
Industrial
Development
Authority
4.75%,
12/01/2054
1,500‌
1,411‌
5.00%,
06/01/2054
2,500‌
2,437‌
Tuscaloosa
County
Industrial
Development
Authority
5.25%,
05/01/2044
(d)
2,760‌
2,799‌
$
13,009‌
Arizona
-
1
.92
%
Arizona
Industrial
Development
Authority
2.00%,
01/01/2059
1,171‌
159‌
Maricopa
County
Industrial
Development
Authority
4.00%,
10/15/2047
(d)
1,000‌
871‌
Navajo
Nation
5.50%,
12/01/2030
(d)
2,500‌
2,503‌
$
3,533‌
Arkansas
-
1
.72
%
Arkansas
Development
Finance
Authority
5.45%,
09/01/2052
1,000‌
1,014‌
6.88%,
07/01/2048
(d)
2,000‌
2,152‌
$
3,166‌
California
-
10
.22
%
Alameda
Corridor
Transportation
Authority
(credit
support
from
Assured
Guaranty
)
5.00%,
10/01/2052
(e)
1,000‌
1,030‌
Bay
Area
Toll
Authority
2.60%,
04/01/2056
5‌
3‌
California
Educational
Facilities
Authority
5.00%,
04/01/2051
2,200‌
2,469‌
California
Infrastructure
&
Economic
Development
Bank
12.00%,
01/01/2065
(c),(d)
500‌
280‌
California
Pollution
Control
Financing
Authority
5.00%,
07/01/2038
(d)
1,115‌
1,192‌
California
Public
Finance
Authority
6.50%,
06/01/2054
(d)
5,000‌
4,790‌
6.75%,
07/01/2065
(d)
3,500‌
3,764‌
California
Statewide
Financing
Authority
6.00%,
05/01/2043
1,000‌
1,019‌
City
of
Los
Angeles
Department
of
Airports
5.00%,
05/15/2037
(f)
1,421‌
1,524‌
La
Verne
Public
Financing
Authority
7.25%,
09/01/2026
80‌
80‌
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
5.25%,
05/01/2049
1,500‌
1,569‌
State
of
California
5.00%,
08/01/2045
1,000‌
1,097‌
$
18,817‌
MUNICIPAL
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Colorado
-
0
.52
%
Regional
Transportation
District
4.00%,
07/15/2040
$
1,000‌
$
966‌
Connecticut
-
0
.93
%
Mohegan
Tribal
Finance
Authority
7.00%,
02/01/2045
(d)
1,700‌
1,714‌
District
of
Columbia
-
1
.09
%
District
of
Columbia
1.72%,
06/01/2051
(c)
2,000‌
2,000‌
Florida
-
11
.76
%
County
of
Miami-Dade
FL
Aviation
Revenue
5.00%,
10/01/2049
(f)
3,000‌
3,010‌
County
of
Miami-Dade
FL
Water
&
Sewer
System
Revenue
5.00%,
10/01/2055
1,000‌
1,031‌
County
of
Palm
Beach
FL
5.75%,
10/01/2065
(d)
1,000‌
1,029‌
Florida
Development
Finance
Corp
4.38%,
10/01/2054
(c),(d)
2,000‌
2,015‌
4.45%,
07/01/2037
(c),(d)
2,000‌
2,042‌
5.25%,
08/01/2029
(d)
1,000‌
1,028‌
5.25%,
08/01/2055
1,000‌
1,023‌
Greater
Orlando
Aviation
Authority
5.25%,
10/01/2049
(f)
2,000‌
2,090‌
5.50%,
11/01/2037
1,500‌
1,600‌
Miami-Dade
County
Educational
Facilities
Authority
5.00%,
04/01/2053
1,000‌
1,003‌
Ocean
Highway
&
Port
Authority
5.50%,
12/01/2049
(d)
1,500‌
1,212‌
Palm
Beach
County
Health
Facilities
Authority
5.75%,
11/01/2050
1,000‌
1,048‌
7.63%,
05/15/2058
1,000‌
1,108‌
Village
Community
Development
District
No
15
4.80%,
05/01/2055
(d)
1,485‌
1,412‌
Village
Community
Development
District
No
16
5.13%,
05/01/2056
1,000‌
996‌
$
21,647‌
Georgia
-
3
.94
%
Atlanta
Development
Authority/The
0.00%,
12/15/2048
(a),(d)
4,000‌
3,652‌
5.50%,
04/01/2039
(d)
2,000‌
2,055‌
George
L
Smith
II
Congress
Center
Authority
5.00%,
01/01/2036
(d)
1,528‌
1,554‌
$
7,261‌
Illinois
-
3
.49
%
City
of
Chicago
IL
6.00%,
01/01/2050
1,500‌
1,578‌
Illinois
State
Toll
Highway
Authority
5.00%,
01/01/2047
(f)
600‌
636‌
5.25%,
01/01/2043
(f)
1,500‌
1,639‌
State
of
Illinois
5.50%,
05/01/2047
1,435‌
1,503‌
5.50%,
04/01/2051
1,000‌
1,065‌
$
6,421‌
Indiana
-
0
.45
%
City
of
Whiting
IN
3.00%,
11/01/2051
1,145‌
830‌
Kansas
-
0
.53
%
City
of
Wichita
KS
6.00%,
05/15/2054
1,000‌
982‌
Kentucky
-
0
.54
%
City
of
Henderson
KY
4.45%,
01/01/2042
(d)
1,000‌
1,003‌
Louisiana
-
3
.49
%
City
of
New
Orleans
LA
5.75%,
12/01/2055
(g)
1,000‌
1,064‌
Schedule
of
Investments
Opportunistic
Municipal
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
107
MUNICIPAL
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Louisiana
(continued)
Louisiana
Local
Government
Environmental
Facilities
&
Community
Development
Authority
4.40%,
11/01/2044
(d)
$
700‌
$
681‌
5.50%,
11/01/2039
(d)
400‌
408‌
5.65%,
11/01/2037
(d)
600‌
620‌
Louisiana
Public
Facilities
Authority
2.95%,
05/01/2042
(c)
400‌
400‌
Parish
of
St
James
LA
6.35%,
10/01/2040
(d)
3,000‌
3,250‌
$
6,423‌
Maine
-
0
.57
%
Finance
Authority
of
Maine
5.00%,
08/01/2035
(d)
1,000‌
1,051‌
Maryland
-
0
.79
%
Maryland
Stadium
Authority
(credit
support
from
State
Intercept
Program
)
0.00%,
05/01/2051
(a),(e)
1,500‌
448‌
Tender
Option
Bond
Trust
Receipts/Certificates
3.07%,
07/01/2032
(c),(d)
1,010‌
1,010‌
$
1,458‌
Michigan
-
0
.16
%
Michigan
State
Building
Authority
1.67%,
04/15/2059
(c)
300‌
300‌
Mississippi
-
0
.84
%
Mississippi
Business
Finance
Corp
2.85%,
12/01/2030
(c)
1,000‌
1,000‌
2.85%,
11/01/2035
(c)
555‌
555‌
$
1,555‌
Montana
-
0
.76
%
City
of
Kalispell
MT
5.25%,
05/15/2037
1,400‌
1,405‌
Nevada
-
1
.12
%
Las
Vegas
Convention
&
Visitors
Authority
5.00%,
07/01/2043
(f)
1,400‌
1,435‌
5.25%,
07/01/2049
(f)
600‌
625‌
State
of
Nevada
Department
of
Business
&
Industry
0.00%,
12/15/2037
(a),(d)
702‌
—‌
$
2,060‌
New
Hampshire
-
1
.08
%
New
Hampshire
Business
Finance
Authority
4.38%,
09/20/2036
947‌
963‌
New
Hampshire
Health
and
Education
Facilities
Authority
Act
(credit
support
from
Build
America
Mutual
Assurance
Corp
-
Transfer
Custodial
Receipt
)
5.00%,
08/01/2059
(e)
1,000‌
1,034‌
$
1,997‌
New
Jersey
-
0
.57
%
New
Jersey
Transportation
Trust
Fund
Authority
5.25%,
06/15/2050
1,000‌
1,050‌
New
York
-
18
.59
%
Build
NYC
Resource
Corp
7.00%,
12/15/2065
(d)
1,000‌
1,001‌
City
of
New
York
NY
2.85%,
04/01/2042
(c)
1,000‌
1,000‌
Genesee
County
Funding
Corp/The
5.50%,
12/01/2055
1,000‌
1,040‌
Hempstead
Town
Local
Development
Corp
5.00%,
10/01/2056
1,000‌
988‌
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
5.50%,
05/01/2042
1,000‌
1,119‌
New
York
Liberty
Development
Corp
5.25%,
10/01/2035
1,300‌
1,480‌
MUNICIPAL
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
New
York
(continued)
New
York
State
Dormitory
Authority
5.00%,
10/01/2048
(f)
$
500‌
$
560‌
5.00%,
10/01/2050
(f)
1,000‌
1,112‌
5.25%,
10/01/2049
2,000‌
2,059‌
5.50%,
05/01/2049
3,200‌
3,336‌
New
York
State
Environmental
Facilities
Corp
5.12%,
09/01/2050
(c),(d)
1,000‌
1,051‌
New
York
Transportation
Development
Corp
4.00%,
10/31/2041
1,000‌
978‌
5.00%,
01/01/2034
1,000‌
1,020‌
5.38%,
08/01/2036
1,050‌
1,093‌
5.63%,
04/01/2040
1,000‌
1,062‌
6.00%,
06/30/2054
1,100‌
1,146‌
6.00%,
06/30/2059
2,000‌
2,107‌
New
York
Transportation
Development
Corp
(credit
support
from
Assured
Guaranty
)
5.50%,
06/30/2044
(e)
1,210‌
1,276‌
Oneida
Indian
Nation
of
New
York
6.00%,
09/01/2043
(d)
3,000‌
3,249‌
Suffolk
Regional
Off-Track
Betting
Corp
6.00%,
12/01/2053
3,000‌
3,067‌
Tender
Option
Bond
Trust
Receipts/Certificates
3.00%,
12/01/2032
(c),(d)
1,000‌
1,000‌
Westchester
County
Local
Development
Corp
6.50%,
12/01/2065
(d)
1,500‌
1,554‌
Western
Regional
Off-Track
Betting
Corp
4.13%,
12/01/2041
(d)
2,000‌
1,927‌
$
34,225‌
North
Carolina
-
0
.56
%
Columbus
County
Industrial
Facilities
&
Pollution
Control
Financing
Authority
4.20%,
05/01/2034
1,000‌
1,039‌
Ohio
-
3
.09
%
Buckeye
Tobacco
Settlement
Financing
Authority
5.00%,
06/01/2055
2,650‌
2,115‌
Cleveland-Cuyahoga
County
Port
Authority
4.00%,
12/01/2055
(d)
800‌
622‌
4.50%,
12/01/2055
(d)
1,210‌
983‌
County
of
Hamilton
OH
5.50%,
08/01/2051
1,000‌
1,020‌
Ohio
Air
Quality
Development
Authority
4.50%,
01/15/2048
(d)
1,000‌
945‌
$
5,685‌
Oklahoma
-
0
.55
%
Tulsa
County
Industrial
Authority
5.25%,
11/15/2045
1,000‌
1,004‌
Pennsylvania
-
5
.81
%
Lancaster
County
Hospital
Authority/PA
5.00%,
07/01/2045
1,000‌
1,000‌
Pennsylvania
Economic
Development
Financing
Authority
5.45%,
01/01/2051
(c),(d)
2,000‌
2,173‌
5.45%,
03/01/2056
(c),(d)
1,500‌
1,532‌
5.50%,
11/01/2044
2,000‌
2,001‌
6.88%,
09/01/2047
(d)
2,000‌
2,160‌
Philadelphia
Authority
for
Industrial
Development
4.00%,
07/01/2049
2,000‌
1,826‌
$
10,692‌
Puerto
Rico
-
2
.46
%
Commonwealth
of
Puerto
Rico
0.00%,
07/01/2033
(a)
133‌
97‌
0.00%,
11/01/2043
(a),(c)
397‌
275‌
4.00%,
07/01/2037
80‌
79‌
4.00%,
07/01/2046
113‌
100‌
Puerto
Rico
Industrial
Tourist
Educational
Medical
&
Environmental
Control
Facilities
Financing
Authority
6.75%,
01/01/2045
1,480‌
1,677‌
Schedule
of
Investments
Opportunistic
Municipal
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
108
MUNICIPAL
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Puerto
Rico
(continued)
Puerto
Rico
Sales
Tax
Financing
Corp
Sales
Tax
Revenue
5.00%,
07/01/2058
$
2,325‌
$
2,293‌
$
4,521‌
South
Carolina
-
0
.48
%
South
Carolina
Jobs-Economic
Development
Authority
0.00%,
06/01/2040
(a),(d)
1,000‌
110‌
0.00%,
06/01/2051
(a),(d)
2,000‌
220‌
5.25%,
11/15/2052
560‌
545‌
$
875‌
Tennessee
-
0
.97
%
Metropolitan
Nashville
Airport
Authority/The
5.25%,
07/01/2056
1,000‌
1,029‌
Nashville
Metropolitan
Development
&
Housing
Agency
5.13%,
06/01/2036
(d)
750‌
761‌
$
1,790‌
Texas
-
7
.00
%
City
of
Houston
TX
Airport
System
Revenue
4.00%,
07/01/2041
1,000‌
936‌
4.00%,
07/15/2041
500‌
468‌
5.50%,
07/15/2038
1,500‌
1,602‌
City
of
Houston
TX
Hotel
Occupancy
Tax
&
Special
Revenue
(credit
support
from
Assured
Guaranty
)
5.50%,
09/01/2058
(e)
2,000‌
2,124‌
New
Hope
Cultural
Education
Facilities
Finance
Corp
6.50%,
07/01/2056
(d)
3,000‌
3,084‌
Port
of
Beaumont
Navigation
District
4.00%,
01/01/2050
(d)
3,000‌
2,320‌
5.13%,
01/01/2044
(d)
1,000‌
974‌
5.25%,
01/01/2054
(d)
505‌
460‌
Tarrant
County
Cultural
Education
Facilities
Finance
Corp
4.13%,
12/01/2054
1,000‌
916‌
$
12,884‌
Utah
-
4
.66
%
City
of
Salt
Lake
City
UT
Airport
Revenue
5.00%,
07/01/2040
(f)
960‌
1,039‌
5.25%,
07/01/2042
(f)
960‌
1,053‌
5.50%,
07/01/2050
(f)
640‌
682‌
5.50%,
07/01/2055
(f)
640‌
675‌
Mida
Mountain
Village
Public
Infrastructure
District
5.13%,
06/15/2054
(d)
1,500‌
1,508‌
6.00%,
06/15/2054
(d)
1,500‌
1,546‌
Tech
Ridge
Public
Infrastructure
District
6.25%,
12/01/2054
(d)
2,000‌
2,076‌
$
8,579‌
Virginia
-
1
.01
%
Virginia
Beach
Development
Authority
7.00%,
09/01/2059
1,000‌
1,091‌
Virginia
Small
Business
Financing
Authority
4.00%,
01/01/2039
800‌
777‌
$
1,868‌
Washington
-
0
.55
%
Washington
Economic
Development
Finance
Authority
5.87%,
12/01/2045
(c)
1,000‌
1,017‌
West
Virginia
-
0
.59
%
West
Virginia
Economic
Development
Authority
5.45%,
01/01/2055
(c),(d)
1,000‌
1,086‌
Wisconsin
-
4
.18
%
Public
Finance
Authority
5.00%,
09/01/2039
(d)
1,000‌
1,018‌
5.00%,
06/01/2041
(d)
1,000‌
1,021‌
5.25%,
06/15/2055
1,000‌
1,034‌
MUNICIPAL
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Wisconsin
(continued)
Public
Finance
Authority  
(continued)
5.50%,
06/15/2055
$
750‌
$
774‌
5.75%,
06/15/2055
750‌
771‌
5.75%,
06/30/2060
1,000‌
1,039‌
6.50%,
06/30/2060
1,135‌
1,263‌
Wisconsin
Health
&
Educational
Facilities
Authority
6.50%,
07/01/2033
300‌
296‌
7.00%,
07/01/2043
500‌
475‌
$
7,691‌
TOTAL
MUNICIPAL
BONDS
$
191,604‌
Total
Investments
$
193,181‌
Liability
for
Floating
Rate
Notes
Issued
in
Conjunction
with
Securities
Held
-
(5.54)%
Notes
with
interest
rates
of
1.60%
-1.69%
at
May
31,
2026
and
contractual
maturity
of
collateral
from
2026-2049.
(h)
$
(
10,195‌
)
(
10,195‌
)
Total
Net
Investments
$
182,986‌
Other
Assets
and
Liabilities
-  0.63%
1,169‌
TOTAL
NET
ASSETS
-
100.00%
$
184,155‌
(a)
Non-income
producing
security
(b)
The
value
of
these
investments
was
determined
using
significant
unobservable
inputs,
in
good
faith
by
the
Manager,
under
procedures
established
and
periodically
reviewed
by
the
Board
of
Directors.
(c)
Certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
are
based
on
current
market
conditions.  These
securities
do
not
indicate
a
reference
rate
and
spread
in
their
description.
Rate
shown
is
the
rate
in
effect
as
of
period
end.
(d)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$79,478
or
43.16%
of
net
assets.
(e)
Credit
support
indicates
investments
that
benefit
from
credit
enhancement
or
liquidity
support
provided
by
a
third
party
bank,
institution,
or
government
agency.
(f)
Security
or
portion
of
underlying
security
related
to
Inverse
Floaters
entered
into
by
the
fund.
(g)
Security
purchased
on
a
when-issued
basis.
(h)
Floating
rate
securities.
The
interest
rate(s)
shown
reflect
the
rates
in
effect
at
May
31,
2026.
Schedule
of
Investments
Small-MidCap
Dividend
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
109
INVESTMENT
COMPANIES
-
0
.97
%
Shares
Held
Value
(000's)
Money
Market
Funds
-
0
.97
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
77‌
$
—‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(c)
14,911,364‌
14,911‌
$
14,911‌
TOTAL
INVESTMENT
COMPANIES
$
14,911‌
COMMON
STOCKS
-
99
.12
%
Shares
Held
Value
(000's)
Advertising
-
0
.47
%
Omnicom
Group
Inc
99,042‌
$
7,201‌
Banks
-
8
.52
%
Cullen/Frost
Bankers
Inc
215,406‌
29,192‌
East
West
Bancorp
Inc
338,362‌
41,463‌
ServisFirst
Bancshares
Inc
311,454‌
24,290‌
Wintrust
Financial
Corp
238,138‌
35,776‌
$
130,721‌
Building
Materials
-
0
.93
%
Owens
Corning
113,380‌
14,266‌
Chemicals
-
1
.20
%
RPM
International
Inc
174,353‌
18,476‌
Commercial
Services
-
1
.84
%
Service
Corp
International/US
175,746‌
13,214‌
Verisk
Analytics
Inc
85,552‌
14,971‌
$
28,185‌
Computers
-
3
.39
%
Amdocs
Ltd
302,829‌
19,069‌
Leidos
Holdings
Inc
170,755‌
21,823‌
Western
Digital
Corp
21,105‌
11,211‌
$
52,103‌
Consumer
Products
-
1
.16
%
Avery
Dennison
Corp
112,161‌
17,841‌
Distribution
&
Wholesale
-
1
.58
%
LKQ
Corp
467,371‌
12,675‌
Watsco
Inc
31,346‌
11,507‌
$
24,182‌
Diversified
Financial
Services
-
4
.60
%
Federal
Agricultural
Mortgage
Corp
146,646‌
26,072‌
Hamilton
Lane
Inc
275,598‌
24,013‌
Raymond
James
Financial
Inc
143,045‌
20,514‌
$
70,599‌
Electric
-
3
.27
%
Alliant
Energy
Corp
257,698‌
18,454‌
IDACORP
Inc
146,431‌
20,540‌
NRG
Energy
Inc
83,594‌
11,208‌
$
50,202‌
Electrical
Components
&
Equipment
-
2
.49
%
Littelfuse
Inc
81,954‌
38,262‌
Electronics
-
6
.23
%
Hubbell
Inc
60,617‌
28,709‌
nVent
Electric
PLC
248,422‌
41,484‌
TD
SYNNEX
Corp
97,142‌
25,381‌
$
95,574‌
Engineering
&
Construction
-
1
.77
%
Comfort
Systems
USA
Inc
14,863‌
27,173‌
Entertainment
-
0
.64
%
Warner
Music
Group
Corp
309,671‌
9,767‌
Food
-
2
.10
%
Ingredion
Inc
228,600‌
23,189‌
Marzetti
Company/The
80,568‌
9,019‌
$
32,208‌
Gas
-
1
.50
%
NiSource
Inc
498,498‌
23,041‌
Hand
&
Machine
Tools
-
3
.90
%
Lincoln
Electric
Holdings
Inc
77,137‌
19,939‌
MSA
Safety
Inc
102,550‌
17,003‌
Snap-on
Inc
61,583‌
22,860‌
$
59,802‌
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Healthcare
-
Products
-
2
.86
%
Bio-Techne
Corp
262,088‌
$
13,545‌
STERIS
PLC
142,830‌
30,384‌
$
43,929‌
Healthcare
-
Services
-
3
.53
%
Concentra
Group
Holdings
Parent
Inc
867,242‌
21,568‌
Quest
Diagnostics
Inc
167,131‌
32,574‌
$
54,142‌
Home
Builders
-
0
.77
%
LCI
Industries
108,562‌
11,835‌
Insurance
-
4
.28
%
Assured
Guaranty
Ltd
235,509‌
17,477‌
Equitable
Holdings
Inc
588,336‌
24,328‌
Fidelity
National
Financial
Inc
240,821‌
11,403‌
Hanover
Insurance
Group
Inc/The
66,703‌
12,420‌
$
65,628‌
Iron
&
Steel
-
1
.59
%
Reliance
Inc
63,926‌
24,341‌
Leisure
Products
&
Services
-
2
.40
%
Acushnet
Holdings
Corp
222,986‌
19,797‌
Brunswick
Corp/DE
203,347‌
17,032‌
$
36,829‌
Lodging
-
1
.18
%
Hyatt
Hotels
Corp
99,603‌
18,064‌
Machinery
-
Diversified
-
4
.23
%
AGCO
Corp
194,099‌
21,793‌
Crane
Co
135,680‌
24,830‌
Nordson
Corp
63,704‌
18,304‌
$
64,927‌
Media
-
1
.10
%
Nexstar
Media
Group
Inc
94,456‌
16,854‌
Metal
Fabrication
&
Hardware
-
1
.63
%
Timken
Co/The
195,372‌
25,004‌
Oil
&
Gas
-
3
.42
%
Expand
Energy
Corp
102,713‌
9,550‌
HF
Sinclair
Corp
216,991‌
15,165‌
Magnolia
Oil
&
Gas
Corp
276,087‌
7,554‌
Permian
Resources
Corp
1,047,517‌
20,144‌
$
52,413‌
Packaging
&
Containers
-
2
.18
%
Packaging
Corp
of
America
153,118‌
33,519‌
Pipelines
-
2
.60
%
DT
Midstream
Inc
96,065‌
13,447‌
Targa
Resources
Corp
103,668‌
26,443‌
$
39,890‌
REITs
-
8
.39
%
Agree
Realty
Corp
314,339‌
23,308‌
Camden
Property
Trust
114,336‌
12,184‌
Cousins
Properties
Inc
485,294‌
13,011‌
EastGroup
Properties
Inc
95,901‌
19,363‌
Equity
LifeStyle
Properties
Inc
143,474‌
8,862‌
Essential
Properties
Realty
Trust
Inc
582,016‌
17,798‌
Four
Corners
Property
Trust
Inc
420,977‌
10,482‌
Regency
Centers
Corp
171,934‌
13,299‌
Terreno
Realty
Corp
159,514‌
10,479‌
$
128,786‌
Retail
-
4
.42
%
Dick's
Sporting
Goods
Inc
132,095‌
30,061‌
Domino's
Pizza
Inc
24,870‌
7,724‌
Williams-Sonoma
Inc
147,518‌
30,030‌
$
67,815‌
Semiconductors
-
7
.05
%
Amkor
Technology
Inc
696,856‌
48,473‌
MKS
Inc
184,386‌
59,789‌
$
108,262‌
Shipbuilding
-
0
.86
%
Huntington
Ingalls
Industries
Inc
42,742‌
13,172‌
Schedule
of
Investments
Small-MidCap
Dividend
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
110
COMMON
STOCKS
(continued)
Shares
Held
Value
(000’s)
Transportation
-
1
.04
%
CH
Robinson
Worldwide
Inc
89,066‌
$
15,912‌
TOTAL
COMMON
STOCKS
$
1,520,925‌
Total
Investments
$
1,535,836‌
Other
Assets
and
Liabilities
-  (0.09)%
(
1,380‌
)
TOTAL
NET
ASSETS
-
100.00%
$
1,534,456‌
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$0
or
0.00%
of
net
assets.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
21,309‌
$
331,457‌
$
337,855‌
$
14,911‌
$
21,309‌
$
331,457‌
$
337,855‌
$
14,911‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
460‌
$
—‌
$
—‌
$
—‌
$
460‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
111
INVESTMENT
COMPANIES
-
2
.44
%
Shares
Held
Value
(000's)
Exchange-Traded
Funds
-
0
.80
%
Invesco
Preferred
ETF
3,499,770‌
$
38,533‌
Money
Market
Funds
-
1
.64
%
BlackRock
Liquidity
FedFund
-
Institutional
Class
3.52%
(a),(b)
53,403‌
53‌
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
(a),(c)
78,841,938‌
78,842‌
$
78,895‌
TOTAL
INVESTMENT
COMPANIES
$
117,428‌
CONVERTIBLE
PREFERRED
STOCKS
-
0
.06
%
Shares
Held
Value
(000's)
Banks
-
0
.06
%
Wells
Fargo
&
Co
7.50%
(d)
2,324‌
$
2,727‌
TOTAL
CONVERTIBLE
PREFERRED
STOCKS
$
2,727‌
PREFERRED
STOCKS
-
11
.47
%
Shares
Held
Value
(000's)
Banks
-
5
.31
%
Bank
of
America
Corp
4.25%,
11/17/2026
(d)
7,500‌
$
128‌
Bank
of
America
Corp
4.38%,
07/01/2026
(d)
293,847‌
5,139‌
Bank
of
America
Corp
4.57%,
07/02/2026
(d)
200,640‌
3,904‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
0.91%
Bank
of
New
York
Mellon
Corp/The
6.15%,
03/20/2030
(d)
871,531‌
22,424‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.16%
Citigroup
Inc
6.25%,
02/15/2031
(d)
90,390‌
2,259‌
Citizens
Financial
Group
Inc
5.00%,
07/06/2026
(d)
15,373‌
284‌
Citizens
Financial
Group
Inc
6.50%,
10/06/2030
(d)
609,059‌
15,434‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.63%
Citizens
Financial
Group
Inc
7.38%,
07/06/2029
(d)
669,818‌
17,335‌
Cullen/Frost
Bankers
Inc
4.45%,
09/15/2026
(d)
298,372‌
4,980‌
Fifth
Third
Bancorp
6.88%,
10/01/2030
(d)
54,147‌
1,411‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.13%
First
Horizon
Corp
4.70%,
07/10/2026
(d)
2,178‌
38‌
First
Horizon
Corp
6.50%,
07/10/2026
(d)
5,587‌
135‌
First
Horizon
Corp
6.75%,
04/10/2031
(d)
550,798‌
13,742‌
Goldman
Sachs
Group
Inc/The
4.59%,
07/02/2026
(d)
31,810‌
618‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
0.93%
Huntington
Bancshares
Inc/OH
6.88%,
04/15/2028
(d)
68,225‌
1,714‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.70%
JPMorgan
Chase
&
Co
4.75%,
09/01/2026
(d)
109,347‌
2,103‌
JPMorgan
Chase
&
Co
5.75%,
09/01/2026
(d)
7,628‌
183‌
KeyCorp
5.65%,
09/15/2026
(d)
57,334‌
1,200‌
KeyCorp
6.13%,
12/15/2026
(d)
725,741‌
18,361‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
4.15%
KeyCorp
6.20%,
12/15/2027
(d)
389,104‌
9,833‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.13%
M&T
Bank
Corp
5.63%,
12/15/2026
(d)
11,592‌
293‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
4.28%
M&T
Bank
Corp
6.35%,
12/15/2030
(d)
210,186‌
5,265‌
M&T
Bank
Corp
7.50%,
06/15/2029
(d)
150,526‌
3,951‌
Morgan
Stanley
5.85%,
04/15/2027
(d)
629,481‌
14,963‌
3
Month
USD
LIBOR
+
3.49%
Morgan
Stanley
6.50%,
10/15/2027
(d)
440,682‌
11,110‌
Morgan
Stanley
6.63%,
10/15/2029
(d)
467,149‌
11,926‌
Northern
Trust
Corp
4.70%,
10/01/2026
(d)
242,105‌
4,569‌
Regions
Financial
Corp
4.45%,
09/15/2026
(d)
311,305‌
5,099‌
Regions
Financial
Corp
5.70%,
05/15/2029
(d)
338,586‌
8,268‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.41%
PREFERRED
STOCKS
(continued)
Shares
Held
Value
(000’s)
Banks
(continued)
Regions
Financial
Corp
6.95%,
09/15/2029
(d)
845,886‌
$
21,672‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%
Truist
Financial
Corp
4.75%,
09/01/2026
(d)
462,909‌
8,518‌
UMB
Financial
Corp
7.75%,
07/15/2030
(d)
447,600‌
12,058‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.74%
US
Bancorp
4.00%,
07/01/2026
(d)
85,692‌
1,343‌
US
Bancorp
4.53%,
07/02/2026
(d)
116,001‌
2,206‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
0.86%
US
Bancorp
5.50%,
07/02/2026
(d)
117,583‌
2,579‌
Webster
Financial
Corp
5.25%,
07/02/2026
(d)
194,856‌
4,043‌
Webster
Financial
Corp
6.50%,
06/30/2026
(d)
37,427‌
905‌
Wells
Fargo
&
Co
4.38%,
09/15/2026
(d)
33,835‌
582‌
Wells
Fargo
&
Co
4.70%,
09/15/2026
(d)
39,138‌
720‌
Wells
Fargo
&
Co
4.75%,
09/15/2026
(d)
73,015‌
1,360‌
Wintrust
Financial
Corp
7.88%,
07/15/2030
(d)
467,120‌
12,248‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.88%
$
254,903‌
Diversified
Financial
Services
-
0
.57
%
Affiliated
Managers
Group
Inc
4.20%,
09/30/2061
179,726‌
2,709‌
Affiliated
Managers
Group
Inc
4.75%,
09/30/2060
19,594‌
329‌
Affiliated
Managers
Group
Inc
5.88%,
03/30/2059
147,228‌
2,949‌
Capital
One
Financial
Corp
4.25%,
09/01/2026
(d)
103,648‌
1,630‌
Capital
One
Financial
Corp
4.80%,
09/01/2026
(d)
227,766‌
4,009‌
Capital
One
Financial
Corp
5.00%,
09/01/2026
(d)
252,621‌
4,613‌
Stifel
Financial
Corp
4.50%,
08/15/2026
(d)
558,669‌
9,313‌
Stifel
Financial
Corp
6.13%,
07/02/2026
(d)
5,715‌
130‌
Voya
Financial
Inc
5.35%,
09/15/2029
(d)
62,038‌
1,480‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.21%
$
27,162‌
Electric
-
1
.55
%
CMS
Energy
Corp
5.88%,
03/01/2079
142,374‌
3,265‌
CMS
Energy
Corp
5.88%,
10/15/2078
283,450‌
6,446‌
DTE
Energy
Co
4.38%,
12/01/2081
357,379‌
6,033‌
DTE
Energy
Co
5.25%,
12/01/2077
381,382‌
8,024‌
DTE
Energy
Co
6.25%,
10/01/2085
314,819‌
7,726‌
Entergy
Arkansas
LLC
4.88%,
09/01/2066
43,158‌
869‌
Entergy
Louisiana
LLC
4.88%,
09/01/2066
127,036‌
2,553‌
Entergy
Texas
Inc
5.38%,
07/02/2026
(d),(e)
42,934‌
1,046‌
Georgia
Power
Co
5.00%,
10/01/2077
139,849‌
3,099‌
NextEra
Energy
Capital
Holdings
Inc
5.65%,
03/01/2079
98,197‌
2,275‌
NextEra
Energy
Capital
Holdings
Inc
6.50%,
06/01/2085
298,486‌
7,390‌
NextEra
Energy
Capital
Holdings
Inc
6.50%,
04/15/2086
35,000‌
876‌
Southern
Co/The
4.95%,
01/30/2080
248,873‌
4,868‌
Southern
Co/The
5.25%,
12/01/2077
550,514‌
11,616‌
Xcel
Energy
Inc
6.25%,
10/15/2085
355,499‌
8,543‌
$
74,629‌
Gas
-
0
.02
%
Spire
Inc
6.38%,
03/01/2086
45,552‌
1,094‌
Insurance
-
1
.26
%
Allstate
Corp/The
4.75%,
07/15/2026
(d)
135,447‌
2,538‌
Allstate
Corp/The
5.10%,
07/15/2026
(d)
47,311‌
956‌
Allstate
Corp/The
7.10%,
01/15/2053
208,793‌
5,399‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.43%
Allstate
Corp/The
7.38%,
07/15/2028
(d)
229,165‌
5,984‌
American
Financial
Group
Inc/OH
4.50%,
09/15/2060
92,709‌
1,539‌
American
Financial
Group
Inc/OH
5.63%,
06/01/2060
127,339‌
2,535‌
American
Financial
Group
Inc/OH
5.88%,
03/30/2059
95,443‌
2,017‌
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
112
PREFERRED
STOCKS
(continued)
Shares
Held
Value
(000’s)
Insurance
(continued)
Arch
Capital
Group
Ltd
4.55%,
07/01/2026
(d)
123,150‌
$
2,034‌
Arch
Capital
Group
Ltd
5.45%,
07/01/2026
(d)
54,366‌
1,077‌
Assurant
Inc
5.25%,
01/15/2061
44,003‌
854‌
Corebridge
Financial
Inc
6.38%,
12/15/2064
37,291‌
857‌
Equitable
Holdings
Inc
4.30%,
07/01/2026
(d)
538,652‌
8,823‌
Equitable
Holdings
Inc
5.25%,
09/15/2026
(d)
461,567‌
8,991‌
Globe
Life
Inc
4.25%,
06/15/2061
125,169‌
1,955‌
MetLife
Inc
4.75%,
09/15/2026
(d)
38,500‌
713‌
Prudential
Financial
Inc
5.63%,
08/15/2058
22,746‌
512‌
Prudential
Financial
Inc
5.95%,
09/01/2062
166,189‌
3,842‌
RenaissanceRe
Holdings
Ltd
4.20%,
07/15/2026
(d)
249,972‌
3,782‌
RenaissanceRe
Holdings
Ltd
5.75%,
07/02/2026
(d)
23,682‌
501‌
Unum
Group
6.25%,
06/15/2058
19,641‌
456‌
W
R
Berkley
Corp
4.13%,
03/30/2061
119,116‌
1,875‌
W
R
Berkley
Corp
5.10%,
12/30/2059
155,998‌
3,033‌
$
60,273‌
Pipelines
-
0
.28
%
TransCanada
PipeLines
Ltd
6.25%,
11/01/2085
566,141‌
13,536‌
REITs
-
1
.83
%
Digital
Realty
Trust
Inc
5.20%,
07/02/2026
(d)
30,204‌
616‌
Digital
Realty
Trust
Inc
5.25%,
07/01/2026
(d)
31,800‌
655‌
Digital
Realty
Trust
Inc
5.85%,
07/01/2026
(d)
76,850‌
1,751‌
Federal
Realty
Investment
Trust
5.00%,
07/01/2026
(d)
155,168‌
3,032‌
Kimco
Realty
Corp
5.13%,
07/02/2026
(d)
126,684‌
2,498‌
Kimco
Realty
Corp
5.25%,
07/02/2026
(d)
360,137‌
7,242‌
Prologis
Inc
8.54%,
11/13/2026
(d)
82,425‌
4,396‌
Public
Storage
3.88%,
07/02/2026
(d)
215,563‌
3,255‌
Public
Storage
3.90%,
06/30/2026
(d)
124,923‌
1,893‌
Public
Storage
3.95%,
08/17/2026
(d)
87,822‌
1,348‌
Public
Storage
4.00%,
07/01/2026
(d)
914,470‌
14,421‌
Public
Storage
4.00%,
11/19/2026
(d)
513,703‌
8,091‌
Public
Storage
4.10%,
01/13/2027
(d)
182,365‌
2,900‌
Public
Storage
4.13%,
07/01/2026
(d)
567,023‌
9,021‌
Public
Storage
4.63%,
07/01/2026
(d)
477,506‌
8,715‌
Public
Storage
4.70%,
07/02/2026
(d)
332,599‌
6,070‌
Public
Storage
4.75%,
07/02/2026
(d)
253,963‌
4,736‌
Public
Storage
5.60%,
07/01/2026
(d)
301,159‌
6,650‌
Rexford
Industrial
Realty
Inc
5.88%,
07/02/2026
(d)
20,900‌
476‌
$
87,766‌
Telecommunications
-
0
.65
%
AT&T
Inc
4.75%,
07/02/2026
(d)
1,678,335‌
30,982‌
AT&T
Inc
5.00%,
07/02/2026
(d)
22,144‌
434‌
$
31,416‌
TOTAL
PREFERRED
STOCKS
$
550,779‌
BONDS
-
85
.85
%
Principal
Amount
(000's)
Value
(000's)
Banks
-
59
.50
%
Banco
Bilbao
Vizcaya
Argentaria
SA
7.13%,
05/08/2033
(d),(f),(g)
$
4,200‌
$
4,233‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.99%
7.75%,
01/14/2032
(d),(f),(g)
45,000‌
47,190‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.25%
9.38%,
03/19/2029
(d),(f),(g)
35,600‌
38,914‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.10%
Banco
Santander
SA
7.25%,
12/03/2035
(d),(f),(g),(h)
7,000‌
7,048‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.84%
8.00%,
02/01/2034
(d),(f),(g)
4,600‌
4,934‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.91%
9.63%,
11/21/2028
(d),(f),(g)
20,200‌
22,026‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.31%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Banco
Santander
SA
(continued)
9.63%,
05/21/2033
(d),(f),(g)
$
39,000‌
$
45,846‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.30%
Bank
of
America
Corp
6.13%,
04/27/2027
(d),(f)
27,236‌
27,521‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.23%
6.25%,
07/26/2030
(d),(f)
76,175‌
77,309‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.35%
6.63%,
05/01/2030
(d),(f)
48,600‌
50,228‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
8.05%,
06/15/2027
6,112‌
6,306‌
Bank
of
Montreal
6.88%,
11/26/2085
(f)
26,150‌
26,600‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.98%
7.30%,
11/26/2084
(f)
17,000‌
17,839‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.01%
7.70%,
05/26/2084
(f)
33,793‌
35,364‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.45%
Bank
of
New
York
Mellon
Corp/The
3.75%,
12/20/2026
(d),(f)
22,453‌
22,240‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.63%
5.63%,
03/20/2031
(d),(f)
25,700‌
25,568‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.03%
5.95%,
12/20/2030
(d),(f)
1,100‌
1,113‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.27%
Bank
of
Nova
Scotia/The
6.88%,
10/27/2085
(f)
50,200‌
50,697‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.73%
7.35%,
04/27/2085
(f)
25,300‌
26,122‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.90%
8.00%,
01/27/2084
(f)
27,045‌
28,602‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.02%
8.63%,
10/27/2082
(f)
19,003‌
19,847‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.39%
Barclays
PLC
7.63%,
03/15/2035
(d),(f),(g)
18,300‌
19,274‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.69%
9.63%,
12/15/2029
(d),(f),(g)
63,600‌
70,405‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
5.78%
BNP
Paribas
SA
6.88%,
12/15/2033
(d),(f),(g),(i)
4,800‌
4,769‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.85%
7.20%,
04/17/2036
(d),(f),(g),(i)
12,900‌
12,917‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.94%
7.38%,
09/10/2034
(d),(f),(g),(i)
34,000‌
35,230‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.54%
7.45%,
06/27/2035
(d),(f),(g),(i)
7,500‌
7,739‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.13%
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
113
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
BNP
Paribas
SA
(continued)
7.75%,
08/16/2029
(d),(f),(g),(i)
$
42,400‌
$
44,453‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.90%
7.75%,
08/16/2029
(d),(f),(g)
10,048‌
10,535‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.90%
8.00%,
08/22/2031
(d),(f),(g),(i)
20,000‌
21,386‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.73%
Canadian
Imperial
Bank
of
Commerce
6.50%,
07/28/2086
(f)
5,000‌
4,993‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.73%
6.95%,
01/28/2085
(f)
10,600‌
10,778‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.83%
7.00%,
10/28/2085
(f)
24,850‌
25,582‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%
Citigroup
Inc
6.50%,
05/15/2031
(d),(f)
19,469‌
19,672‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.75%
6.63%,
02/15/2031
(d),(f)
68,807‌
69,851‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%
6.75%,
02/15/2030
(d),(f)
15,800‌
15,950‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.57%
6.88%,
08/15/2030
(d),(f)
11,000‌
11,220‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.89%
6.95%,
02/15/2030
(d),(f)
10,100‌
10,279‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.73%
7.00%,
08/15/2034
(d),(f)
43,155‌
44,735‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
2.76%
7.13%,
08/15/2029
(d),(f)
645‌
659‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.69%
7.38%,
05/15/2028
(d),(f)
12,600‌
12,984‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.21%
Citizens
Financial
Group
Inc
4.00%,
10/06/2026
(d),(f)
26,319‌
26,118‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.22%
7.10%,
07/06/2026
(d)
2,000‌
1,993‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.42%
Credit
Agricole
SA
7.13%,
09/23/2035
(d),(f),(g),(i)
61,700‌
63,641‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.58%
Deutsche
Bank
AG
8.13%,
04/30/2030
(d),(f),(g)
25,800‌
27,378‌
USD
Secured
Overnight
Financing
Rate
Spread-Adj.
ICE
Swap
Rate
5
Year
+
4.36%
DNB
Bank
ASA
7.38%,
05/30/2029
(d),(f),(g)
4,000‌
4,150‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.72%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Goldman
Sachs
Group
Inc/The
6.13%,
11/10/2034
(d),(f)
$
29,100‌
$
29,278‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
2.40%
6.85%,
02/10/2030
(d),(f)
46,500‌
47,686‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.46%
7.50%,
05/10/2029
(d),(f)
15,500‌
16,257‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.81%
HSBC
Holdings
PLC
6.00%,
05/22/2027
(d),(f),(g)
15,900‌
15,967‌
USD
Swap
Rate
NY
5
Year
+
3.75%
6.50%,
03/23/2028
(d),(f),(g)
5,600‌
5,659‌
USD
Swap
Rate
NY
5
Year
+
3.61%
6.88%,
09/11/2029
(d),(f),(g)
5,000‌
5,121‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.30%
6.95%,
03/11/2034
(d),(f),(g)
6,000‌
6,177‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.19%
7.00%,
09/24/2035
(d),(f),(g)
4,800‌
4,898‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.80%
7.05%,
06/05/2030
(d),(f),(g)
8,300‌
8,501‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.99%
Huntington
Bancshares
Inc/OH
4.45%,
10/15/2027
(d),(f)
73,176‌
72,256‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
7
Year
+
4.05%
5.63%,
07/15/2030
(d),(f)
30,127‌
30,608‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
4.95%
6.25%,
10/15/2030
(d),(f)
41,210‌
41,215‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
ING
Groep
NV
6.50%,
11/16/2033
(d),(f),(g)
400‌
393‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
2.85%
7.00%,
11/16/2032
(d),(f),(g)
81,000‌
83,331‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.59%
7.25%,
11/16/2034
(d),(f),(g)
30,400‌
31,805‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
4.08%
JPMorgan
Chase
&
Co
4.88%,
01/15/2087
4,000‌
3,691‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.21%
6.10%,
07/01/2031
(d),(f)
36,500‌
36,790‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.08%
6.50%,
04/01/2030
(d),(f)
50,200‌
51,448‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.15%
6.88%,
06/01/2029
(d),(f)
50,710‌
52,935‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.74%
KeyCorp
Capital
III
7.75%,
07/15/2029
11,200‌
11,748‌
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
114
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Lloyds
Banking
Group
PLC
6.63%,
09/27/2035
(d),(f),(g)
$
9,800‌
$
9,629‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
6.75%,
06/27/2026
(d),(f),(g)
200‌
200‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.82%
6.75%,
09/27/2031
(d),(f),(g)
15,000‌
15,342‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.15%
8.00%,
09/27/2029
(d),(f),(g)
6,400‌
6,814‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.91%
Macquarie
Bank
Ltd/London
6.13%,
03/08/2027
(d),(f),(g),(i)
21,000‌
21,157‌
USD
Swap
Semi-Annual
5
Year
+
3.70%
6.13%,
03/08/2027
(d),(f),(g)
5,000‌
5,037‌
USD
Swap
Semi-Annual
5
Year
+
3.70%
NatWest
Group
PLC
7.30%,
11/19/2034
(d),(f),(g)
6,800‌
7,004‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.94%
8.13%,
11/10/2033
(d),(f),(g)
67,005‌
73,286‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.75%
Nordea
Bank
Abp
6.30%,
09/25/2031
(d),(f),(g),(i)
43,100‌
43,468‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.66%
6.75%,
11/10/2033
(d),(f),(g),(i)
22,400‌
22,639‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.72%
PNC
Financial
Services
Group
Inc/The
6.00%,
05/15/2027
(d),(f)
6,000‌
6,003‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%
6.20%,
09/15/2027
(d),(f)
9,200‌
9,320‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.24%
6.25%,
03/15/2030
(d),(f)
109,020‌
111,334‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
7
Year
+
2.81%
Royal
Bank
of
Canada
6.35%,
11/24/2084
(f)
45,550‌
43,972‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.26%
6.50%,
11/24/2085
(f)
46,600‌
45,746‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.46%
6.50%,
05/24/2086
(f)
4,900‌
4,844‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.45%
6.75%,
08/24/2085
(f)
12,100‌
12,400‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.82%
7.50%,
05/02/2084
(f)
47,500‌
49,286‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.89%
Societe
Generale
SA
8.50%,
03/25/2034
(d),(f),(g),(i)
24,000‌
26,247‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.15%
10.00%,
11/14/2028
(d),(f),(g),(i)
15,100‌
16,530‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.45%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
Standard
Chartered
PLC
4.75%,
01/14/2031
(d),(f),(g)
$
10,000‌
$
9,408‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.81%
7.00%,
11/14/2035
(d),(f),(g),(i)
20,500‌
20,742‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.87%
7.00%,
06/08/2033
(d),(f),(g),(h),(i)
29,800‌
29,933‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.67%
7.01%,
07/30/2037
(d),(f),(i)
9,200‌
9,361‌
3
Month
USD
LIBOR
+
1.46%
7.63%,
01/16/2032
(d),(f),(g),(i)
16,600‌
17,479‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.02%
State
Street
Corp
6.45%,
09/15/2030
(d),(f)
4,100‌
4,229‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.14%
6.70%,
09/15/2029
(d),(f)
51,193‌
52,775‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.63%
6.70%,
03/15/2029
(d),(f)
52,160‌
53,630‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.61%
Swedbank
AB
7.63%,
03/17/2028
(d),(f),(g)
13,000‌
13,458‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.59%
7.75%,
03/17/2030
(d),(f),(g)
14,800‌
15,685‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.66%
Toronto-Dominion
Bank/The
6.35%,
10/31/2085
(f)
27,200‌
27,452‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.72%
8.13%,
10/31/2082
(f)
24,600‌
25,535‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.08%
Truist
Financial
Corp
5.10%,
03/01/2030
(d),(f)
21,906‌
21,830‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
4.35%
UBS
Group
AG
6.60%,
08/05/2030
(d),(f),(g),(i)
17,200‌
17,335‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.12%
6.63%,
01/08/2031
(d),(f),(g),(i)
5,250‌
5,270‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.24%
6.85%,
09/10/2029
(d),(f),(g),(i)
17,000‌
17,375‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.63%
7.00%,
02/10/2030
(d),(f),(g),(i)
15,600‌
15,874‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.08%
7.00%,
02/05/2035
(d),(f),(g),(i)
21,300‌
21,527‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.30%
7.00%,
01/08/2036
(d),(f),(g),(i)
7,000‌
7,064‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.32%
7.00%,
02/05/2035
(d),(f),(g)
1,000‌
1,011‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.30%
7.00%,
02/10/2030
(d),(f),(g)
7,500‌
7,632‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.08%
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
115
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Banks
(continued)
UBS
Group
AG
(continued)
7.13%,
08/10/2034
(d),(f),(g),(i)
$
7,000‌
$
7,120‌
USD
Secured
Overnight
Financing
Rate
ICE
Swap
Rate
5
Year
+
3.18%
9.25%,
11/13/2033
(d),(f),(g),(i)
37,000‌
42,718‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.76%
9.25%,
11/13/2028
(d),(f),(g),(i)
12,200‌
13,198‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.75%
9.25%,
11/13/2033
(d),(f),(g)
24,480‌
28,260‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.76%
US
Bancorp
3.70%,
01/15/2027
(d),(f)
6,143‌
6,071‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.54%
USB
Realty
Corp
5.08%,
01/15/2027
(d),(i)
1,500‌
1,371‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.41%
Wells
Fargo
&
Co
6.13%,
06/15/2031
(d),(f)
7,000‌
7,056‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.34%
6.85%,
09/15/2029
(d),(f)
51,985‌
53,874‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%
7.63%,
09/15/2028
(d),(f)
47,100‌
49,568‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.61%
7.95%,
11/15/2029
3,700‌
4,065‌
$
2,856,166‌
Diversified
Financial
Services
-
1
.86
%
Charles
Schwab
Corp/The
4.00%,
12/01/2030
(d),(f)
40‌
38‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
3.08%
6.10%,
06/01/2031
(d),(f)
44,300‌
44,352‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.25%
Julius
Baer
Group
Ltd
6.88%,
06/09/2027
(d),(f),(g)
5,000‌
5,032‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.94%
7.50%,
08/19/2030
(d),(f),(g)
2,000‌
2,081‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.09%
Nomura
Holdings
Inc
7.00%,
07/15/2030
(d),(f),(g)
1,200‌
1,237‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.08%
Voya
Financial
Inc
4.70%,
01/23/2048
(f)
16,155‌
15,742‌
3
Month
USD
LIBOR
+
2.08%
7.76%,
09/15/2028
(d),(f)
20,306‌
21,040‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.36%
$
89,522‌
Electric
-
5
.75
%
American
Electric
Power
Co
Inc
3.88%,
02/15/2062
(f)
1,450‌
1,435‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
5.80%,
03/15/2056
(f)
3,000‌
2,991‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.13%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
American
Electric
Power
Co
Inc
(continued)
6.05%,
03/15/2056
(f)
$
21,600‌
$
21,420‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.94%
6.95%,
12/15/2054
(f)
10,000‌
10,691‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.68%
7.05%,
12/15/2054
(f)
15,600‌
16,199‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.75%
Dominion
Energy
Inc
6.20%,
02/15/2056
(f)
23,015‌
23,157‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.01%
6.63%,
05/15/2055
(f)
25,600‌
26,219‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.21%
6.88%,
02/01/2055
(f)
18,800‌
19,494‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.39%
7.00%,
06/01/2054
(f)
22,400‌
23,847‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.51%
Duke
Energy
Corp
6.45%,
09/01/2054
(f)
14,900‌
15,517‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.59%
Electricite
de
France
SA
9.13%,
03/15/2033
(d),(f)
21,500‌
24,901‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.41%
9.13%,
03/15/2033
(d),(f),(i)
1,341‌
1,553‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.41%
Emera
US
Finance
LLC
6.85%,
10/01/2056
(f)
10,900‌
11,048‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
Entergy
Corp
5.88%,
06/15/2056
(f)
2,900‌
2,911‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.18%
6.10%,
06/15/2056
(f)
5,300‌
5,292‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.01%
EUSHI
Finance
Inc
7.63%,
12/15/2054
(f)
1,200‌
1,250‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.14%
Evergy
Inc
6.65%,
06/01/2055
(f)
4,800‌
4,903‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.56%
Eversource
Energy
6.10%,
08/15/2056
(f)
6,100‌
6,062‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.52%
6.35%,
08/15/2056
(f)
11,400‌
11,427‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.33%
Exelon
Corp
6.50%,
03/15/2055
(f)
1,400‌
1,449‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.98%
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
116
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Electric
(continued)
NextEra
Energy
Capital
Holdings
Inc
4.80%,
12/01/2077
(f)
$
500‌
$
494‌
3
Month
USD
LIBOR
+
2.41%
6.70%,
09/01/2054
(f)
16,700‌
17,199‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.36%
Sempra
6.55%,
04/01/2055
(f)
10,400‌
10,497‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.14%
6.63%,
04/01/2055
(f)
7,700‌
7,780‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.35%
Southern
Co/The
6.38%,
03/15/2055
(f)
1,500‌
1,535‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.07%
WEC
Energy
Group
Inc
5.63%,
05/15/2056
(f)
6,600‌
6,564‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.91%
$
275,835‌
Food
-
0
.22
%
Dairy
Farmers
of
America
Inc
7.13%,
12/01/2026
(d),(i)
10,700‌
10,689‌
Gas
-
0
.25
%
AltaGas
Ltd
7.20%,
10/15/2054
(f),(i)
4,626‌
4,821‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.57%
NiSource
Inc
5.75%,
07/15/2056
(f)
3,200‌
3,223‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.04%
6.95%,
11/30/2054
(f)
4,000‌
4,154‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.45%
$
12,198‌
Insurance
-
10
.60
%
ACE
Capital
Trust
II
9.70%,
04/01/2030
15,488‌
18,052‌
Allianz
SE
5.60%,
09/03/2054
(f),(i)
2,000‌
1,982‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%
6.50%,
10/30/2034
(d),(f),(g),(i)
3,800‌
3,818‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.23%
Aon
Corp
8.21%,
01/01/2027
4,350‌
4,433‌
Assurant
Inc
7.00%,
03/27/2048
(f)
200‌
204‌
3
Month
USD
LIBOR
+
4.14%
Corebridge
Financial
Inc
6.38%,
09/15/2054
(f)
12,500‌
12,469‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
6.88%,
12/01/2030
(d),(f)
24,950‌
25,613‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.18%
6.88%,
12/15/2052
(f)
2,790‌
2,831‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.85%
Dai-ichi
Life
Insurance
Co
Ltd
6.20%,
01/16/2035
(d),(f),(i)
16,700‌
17,068‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.52%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Insurance
(continued)
Equitable
Holdings
Inc
6.70%,
03/28/2055
(f)
$
8,100‌
$
8,338‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.39%
Liberty
Mutual
Group
Inc
4.30%,
02/01/2061
(i)
1,000‌
636‌
7.80%,
03/07/2087
(i)
76,240‌
85,312‌
3
Month
USD
LIBOR
+
3.58%
Liberty
Mutual
Insurance
Co
7.70%,
10/15/2097
(i)
5,025‌
5,581‌
Meiji
Yasuda
Life
Insurance
Co
5.80%,
09/11/2054
(f),(i)
19,000‌
19,001‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.03%
6.10%,
06/11/2055
(f),(i)
20,700‌
21,095‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.91%
MetLife
Capital
Trust
IV
7.88%,
12/15/2067
(i)
21,540‌
23,546‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.96%
MetLife
Inc
9.25%,
04/08/2068
(i)
44,872‌
52,583‌
3
Month
USD
LIBOR
+
5.54%
10.75%,
08/01/2069
53,713‌
69,361‌
3
Month
USD
LIBOR
+
7.55%
Mitsui
Sumitomo
Insurance
Co
Ltd
4.95%,
03/06/2029
(d),(f),(g)
520‌
520‌
USD
Swap
Semi-Annual
5
Year
+
3.26%
4.95%,
03/06/2029
(d),(f),(g),(i)
1,800‌
1,800‌
USD
Swap
Semi-Annual
5
Year
+
3.26%
MMI
Capital
Trust
I
7.63%,
12/15/2027
1,073‌
1,115‌
Muenchener
Rueckversicherungs-Gesellschaft
AG
in
Muenchen
5.88%,
05/23/2042
(f),(i)
4,800‌
4,922‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.98%
Nationwide
Financial
Services
Inc
6.75%,
05/15/2087
12,000‌
11,800‌
Nippon
Life
Insurance
Co
5.95%,
04/16/2054
(f),(i)
18,300‌
18,613‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.59%
6.50%,
04/30/2055
(f),(i)
5,000‌
5,264‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.19%
Prudential
Financial
Inc
5.13%,
03/01/2052
(f)
1,000‌
980‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.16%
6.00%,
09/01/2052
(f)
23,400‌
23,838‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.23%
Reinsurance
Group
of
America
Inc
6.38%,
09/15/2056
(f)
5,500‌
5,425‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.34%
6.65%,
09/15/2055
(f)
9,100‌
9,185‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.39%
Sumitomo
Life
Insurance
Co
5.88%,
09/10/2055
(f),(i)
40,800‌
40,722‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
117
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Insurance
(continued)
Swiss
RE
Subordinated
Finance
PLC
5.70%,
04/05/2035
(f),(i)
$
10,800‌
$
10,892‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
1.81%
6.19%,
04/01/2046
(f),(i)
2,000‌
2,001‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
2.13%
$
509,000‌
Oil
&
Gas
-
1
.25
%
BP
Capital
Markets
PLC
6.13%,
03/18/2035
(d),(f)
23,700‌
24,206‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.92%
Phillips
66
Co
5.88%,
03/15/2056
(f)
8,000‌
7,950‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.28%
6.20%,
03/15/2056
(f)
27,625‌
27,771‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.17%
$
59,927‌
Pipelines
-
3
.89
%
Enbridge
Inc
5.75%,
07/15/2080
(f)
49,201‌
49,635‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
5.31%
6.25%,
03/01/2078
(f)
34,882‌
35,136‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.90%
7.38%,
03/15/2055
(f)
5,000‌
5,288‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.12%
8.25%,
01/15/2084
(f)
2,000‌
2,114‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.79%
8.50%,
01/15/2084
(f)
7,815‌
8,938‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.43%
Energy
Transfer
LP
6.75%,
02/15/2056
(f)
18,400‌
18,746‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.48%
Enterprise
Products
Operating
LLC
5.25%,
08/16/2077
(f)
24,400‌
24,367‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
3.29%
TransCanada
PipeLines
Ltd
6.38%,
10/17/2056
(f)
17,700‌
17,874‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.12%
7.00%,
06/01/2065
(f)
12,100‌
12,465‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.61%
Transcanada
Trust
5.50%,
09/15/2079
(f)
12,100‌
12,039‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
4.42%
$
186,602‌
Sovereign
-
1
.22
%
CoBank
ACB
4.25%,
01/01/2027
(d),(f)
1,000‌
986‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.05%
6.25%,
10/01/2026
(d),(f)
9,400‌
9,375‌
CME
Term
Secured
Overnight
Financing
Rate
3
Month
+
4.66%
BONDS
(continued)
Principal
Amount
(000’s)
Value
(000’s)
Sovereign
(continued)
CoBank
ACB
(continued)
6.45%,
10/01/2027
(d),(f)
$
11,400‌
$
11,456‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.49%
6.75%,
07/01/2031
(d),(f)
5,400‌
5,439‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.62%
7.25%,
07/01/2029
(d),(f)
20,000‌
20,218‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.88%
Farm
Credit
Bank
of
Texas
7.00%,
09/15/2030
(d),(f)
4,515‌
4,649‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.01%
7.75%,
06/15/2029
(d),(f)
6,000‌
6,256‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.29%
$
58,379‌
Telecommunications
-
1
.31
%
TELUS
Corp
6.38%,
06/09/2056
(f)
6,400‌
6,394‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.69%
6.63%,
06/09/2056
(f)
19,600‌
19,539‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.52%
7.00%,
10/15/2055
(f)
14,100‌
14,513‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.71%
Verizon
Communications
Inc
6.05%,
05/14/2058
(f)
14,000‌
14,181‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.81%
6.20%,
05/14/2056
(f)
4,500‌
4,568‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.04%
Vodafone
Group
PLC
5.13%,
06/04/2081
(f)
4,600‌
3,606‌
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.07%
$
62,801‌
TOTAL
BONDS
$
4,121,119‌
Total
Investments
$
4,792,053‌
Other
Assets
and
Liabilities
-  0.18%
8,510‌
TOTAL
NET
ASSETS
-
100.00%
$
4,800,563‌
(a)
1-day
yield
shown
is
as
of
period
end.
(b)
Security
or
a
portion
of
the
security
was
received
as
collateral
for
securities
lending.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$53
or
0.00%
of
net
assets.
(c)
Affiliated
Security.
Security
is
either
an
affiliate
(and
registered
under
the
Investment
Company
Act
of
1940,
as
amended,
(the
"1940
Act"))
or
an
affiliate
as
defined
by
the
1940
Act
(controls
5.00%
or
more
of
the
outstanding
voting
shares
of
the
security).
Please
see
Affiliated
Securities
sub-schedule
for
transactional
information.
(d)
Perpetual
security.
Perpetual
securities
pay
an
indefinite
stream
of
interest,
but
they
may
be
called
by
the
issuer
at
an
earlier
date.
Date
shown,
if
any,
reflects
the
next
call
date
or
final
legal
maturity
date.
Rate
shown
is
as
of
period
end.
(e)
Security
or
a
portion
of
the
security
was
on
loan.  At
the
end
of
the
period,
the
value
of
these
securities
totaled
$52
or
0.00%
of
net
assets.
(f)
Rate
shown
is
as
of
period
end.
The
rate
may
be
a
variable
or
floating
rate
or
a
fixed
rate
which
may
convert
to
a
variable
or
floating
rate
in
the
future.
(g)
Security
is
a
contingent
convertible
security,
("CoCo").
CoCo's
are
hybrid
debt
securities
that
may
convert
to
equity
or
have
their
principal
written
down
upon
occurrence
of
certain
"triggers".
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$1,206,850
or
25.14%
of
net
assets.
(h)
Security
purchased
on
a
when-issued
basis.
Schedule
of
Investments
Spectrum
Preferred
and
Capital
Securities
Income
Fund
May
31,
2026
(unaudited)
See
accompanying
notes.
118
(i)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
the
end
of
the
period,
the
value
of
these
securities
totaled
$878,442
or
18.30%
of
net
assets.
Affiliated
Securities
August
31,
2025
Purchases
Sales
May
31,
2026
Value
Cost
Proceeds
Value
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
107,784‌
$
1,996,251‌
$
2,025,193‌
$
78,842‌
$
107,784‌
$
1,996,251‌
$
2,025,193‌
$
78,842‌
Income
(a)
Realized
Gain/(Loss)
on
Investments
Realized
Gain
from
Capital
Gain
Distributions
Change
in
Unrealized
Gain/
(Loss)
Principal
Funds,
Inc
-
Government
Money
Market
Fund
-
Class
R-6
3.53%
$
1,338‌
$
—‌
$
—‌
$
—‌
$
1,338‌
$
—‌
$
—‌
$
—‌
Amounts
in
thousands.
(a)
Amount
excludes
earnings
from
securities
lending
collateral.
Glossary
to
the
Schedule
of
Investments
May
31,
2026
(unaudited)
See
accompanying
notes.
119
Currency
Abbreviations
AUD
Australian
Dollar
BRL
Brazilian
Real
CAD
Canadian
Dollar
CHF
Swiss
Franc
CLP
Chilean
Peso
CNH
Chinese
Renminbi
COP
Colombian
Peso
CZK
Czech
Koruna
EGP
Egyptian
Pound
EUR
Euro
GBP
British
Pound
Sterling
HUF
Hungarian
Forint
IDR
Indonesian
Rupiah
ILS
Israeli
New
Shekel
INR
Indian
Rupee
JPY
Japanese
Yen
KRW
South
Korean
Won
KZT
Kazakhstani
Tenge
MXN
Mexican
Peso
MYR
Malaysian
Ringgit
NOK
Norwegian
Krone
NZD
New
Zealand
Dollar
PEN
Peruvian
Nuevo
Sol
PHP
Philippine
Peso
PLN
Polish
Zloty
RON
Romanian
New
Leu
SEK
Swedish
Krona
SGD
Singapore
Dollar
THB
Thai
Baht
TRY
Turkish
Lira
TWD
New
Taiwan
Dollar
USD/$
United
States
Dollar
UYU
Uruguayan
Peso
UZS
Uzbekistan
Som
ZAR
South
African
Rand
May
31,
2026
(unaudited)
120
Security
Valuation.
Blue
Chip
Fund,
Bond
Market
Index
Fund,
Capital
Securities
Fund,
Diversified
Real
Asset
Fund,
Global
Listed
Infrastructure
Fund,
Global
Macro
Fund,
Global
Multi-Strategy
Fund,
International
Equity
Index
Fund,
International
Small
Company
Fund,
Opportunistic
Municipal
Fund,
Small-MidCap
Dividend
Income
Fund,
and
Spectrum
Preferred
and
Capital
Securities
Income
Fund
(known
as
the
“Funds”)
value
securities
for
which
market
quotations
are
readily
available
at
fair
value,
which
is
determined
using
the
last
reported
sale
price.
If
no
sales
are
reported,
as
is
regularly
the
case
for
some
securities
traded
over-the-counter,
securities
are
valued
using
the
last
reported
bid
price
or
an
evaluated
bid
price
provided
by
a
pricing
service.
Pricing
services
use
modeling
techniques
that
incorporate
security
characteristics
such
as
current
quotations
by
broker/dealers,
coupon,
maturity,
quality,
type
of
issue,
trading
characteristics,
other
yield
and
risk
factors,
and
other
market
conditions
to
determine
an
evaluated
bid
price
or,
in
the
case
of
certain
credit
default
swaps,
a
mean
price
provided
by
a
pricing
service.
When
reliable
market
quotations
are
not
considered
to
be
readily
available,
which
may
be
the
case,
for
example,
with
respect
to
restricted
securities,
certain
debt
securities,
preferred
stocks,
and
foreign
securities,
the
investments
are
valued
at
their
fair
value
as
determined
in
good
faith
by
the
Principal
Global
Investors,
LLC
(“the
Manager”)
under
procedures
established
and
periodically
reviewed
by
the
Fund’s
Board
of
Directors.
The
Funds
may
invest
in
other
series
of
the
Fund
and
other
investment
funds,
which
may
include
closed-end
investment
companies,
exchange-
traded
funds,
money
market
funds
and
other
registered
open-end
investment
companies.
Investments
in
registered
open-end
investment
companies,
other
than
exchange-traded
funds,
are
valued
at
the
respective
fund’s
closing
net
asset
value
per
share
on
the
day
of
valuation.
The
value
of
foreign
securities
used
in
computing
the
net
asset
value
per
share
is
generally
determined
as
of
the
close
of
the
foreign
exchange
where
the
security
is
principally
traded.
Events
that
occur
after
the
close
of
the
applicable
foreign
market
or
exchange
but
prior
to
the
calculation
of
the
Funds’
net
asset
values
are
reflected
in
the
Funds’
net
asset
values
and
these
securities
are
valued
at
fair
value.
Many
factors,
provided
by
independent
pricing
services,
are
reviewed
in
the
course
of
making
a
good
faith
determination
of
a
security’s
fair
value,
including,
but
not
limited
to,
price
movements
in
American
depositary
receipts
(“ADRs”),
futures
contracts,
industry
indices,
general
indices,
and
foreign
currencies.
To
the
extent
the
Funds
invest
in
foreign
securities
listed
on
foreign
exchanges
which
trade
on
days
on
which
the
Funds
do
not
determine
net
asset
values,
for
example
weekends
and
other
customary
national
U.S.
holidays,
the
Funds’
net
asset
values
could
be
significantly
affected
on
days
when
shareholders
cannot
purchase
or
redeem
shares.
Certain
securities
issued
by
companies
in
emerging
market
countries
may
have
more
than
one
quoted
valuation
at
any
given
point
in
time,
sometimes
referred
to
as
a
“local”
price
and
a
“premium”
price.
The
premium
price
is
often
a
negotiated
price,
which
may
not
consistently
represent
a
price
at
which
a
specific
transaction
can
be
effected.
It
is
the
policy
of
the
Funds
to
value
such
securities
at
prices
at
which
it
is
expected
those
shares
may
be
sold,
and
the
Manager
or
any
sub-advisor
is
authorized
to
make
such
determinations
subject
to
such
oversight
by
the
Fund’s
Board
of
Directors
as
may
occasionally
be
necessary.
Fair
value
is
defined
as
the
price
that
the
Funds
would
receive
upon
selling
a
security
or
transferring
a
liability
in
a
timely
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
of
the
security
at
the
measurement
date.
In
determining
fair
value,
the
Funds
may
use
one
or
more
of
the
following
approaches:
market,
income
and/or
cost.
A
hierarchy
for
inputs
is
used
in
measuring
fair
value
that
maximizes
the
use
of
observable
inputs
and
minimizes
the
use
of
unobservable
inputs
by
requiring
that
the
most
observable
inputs
be
used
when
available.
Observable
inputs
are
inputs
that
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability
developed
based
on
market
data
obtained
from
sources
independent
of
the
Funds.
Unobservable
inputs
are
inputs
that
reflect
the
fund’s
own
estimates
about
the
estimates
market
participants
would
use
in
pricing
the
asset
or
liability
developed
based
on
the
best
information
available
in
the
circumstances.
The
three-tier
hierarchy
of
inputs
is
summarized
in
the
three
broad
levels
listed
below.
Level
1
–
Quoted
prices
are
available
in
active
markets
for
identical
securities
as
of
the
reporting
date.
Investments
which
are
generally
included
in
this
category
include
listed
equities
and
exchange-traded
derivatives.
Level
2
–
Other
significant
observable
inputs
(including
quoted
prices
for
similar
investments,
interest
rates,
prepayments
speeds,
credit
risk,
etc.).
Investments
which
are
generally
included
in
this
category
include
certain
foreign
equities,
corporate
bonds,
municipal
bonds,
OTC
derivatives,
exchange
cleared
derivatives,
senior
floating
rate
interests,
repurchase
agreements,
and
U.S.
Government
and
Government
Agency
Obligations.
Level
3
–
Significant
unobservable
inputs
(including
the
Funds’
assumptions
in
determining
the
fair
value
of
investments).
Investments
which
are
generally
included
in
this
category
include
certain
common
stocks,
convertible
preferred
stocks,
corporate
bonds,
preferred
stocks,
or
senior
floating
rate
interests.
The
availability
of
observable
inputs
can
vary
from
security
to
security
and
is
affected
by
a
wide
variety
of
factors,
including,
for
example,
the
type
of
security,
whether
the
security
is
new
and
not
yet
established
in
the
market
place,
and
other
characteristics
particular
to
the
transaction.
May
31,
2026
(unaudited)
121
To
the
extent
that
valuation
is
based
on
models
or
inputs
that
are
less
observable
or
unobservable
in
the
market,
the
determination
of
fair
value
requires
more
judgment.
Accordingly,
the
degree
of
judgment
exercised
by
the
Funds
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
In
certain
cases,
the
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
level
in
the
fair
value
hierarchy
within
which
the
fair
value
measurement
in
its
entirety
falls
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Fair
value
is
a
market
based
measure
considered
from
the
perspective
of
a
market
participant
who
holds
the
asset
rather
than
an
entity
specific
measure.
Therefore,
even
when
market
assumptions
are
not
readily
available,
the
Funds’
own
assumptions
are
set
to
reflect
those
that
market
participants
would
use
in
pricing
the
asset
or
liability
at
the
measurement
date.
The
Funds
use
prices
and
inputs
that
are
current
as
of
the
measurement
date,
when
available.
Investments
which
are
included
in
the
Level
3
category
may
be
valued
using
quoted
prices
from
brokers
and
dealers
participating
in
the
market
for
these
investments.
These
investments
are
classified
as
Level
3
investments
due
to
the
lack
of
market
transparency
and
market
corroboration
to
support
these
quoted
prices.
Valuation
models
may
be
used
as
the
pricing
source
for
other
investments
classified
as
Level
3.
Valuation
models
rely
on
one
or
more
significant
unobservable
inputs
such
as:
yield
to
maturity,
EBITDA
multiples,
discount
rates,
available
cash,
or
direct
offering
price.
Significant
increases
in
yield
to
maturity,
EBITDA
multiples,
available
cash,
or
direct
offering
price
would
have
resulted
in
significantly
higher
fair
value
measurements.
Significant
increases
in
discount
rates
would
have
resulted
in
a
significantly
lower
fair
value
measurement.
Benchmark
pricing
procedures
set
the
base
price
of
a
security
based
on
current
market
data.
The
base
price
may
be
a
broker-dealer
quote,
transaction
price,
or
internal
value
based
on
relevant
market
data.
The
fair
values
of
these
securities
are
dependent
on
economic,
political
and
other
considerations.
The
values
of
such
securities
may
be
affected
by
significant
changes
in
the
economic
conditions,
changes
in
government
policies,
and
other
factors
(e.g.,
natural
disasters,
pandemics,
accidents,
conflicts,
etc.).
The
inputs
or
methodology
used
for
valuing
securities
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
instruments.
The
following
is
a
summary
of
the
inputs
used
as
of
May
31,
2026
in
valuing
the
Funds’
securities
carried
at
fair
value
(amounts
in
thousands):
Fund
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Totals
(Level
1,2,3)
Blue
Chip
Fund
Common
Stocks*
$
8,474,247
$
—
$
—
$
8,474,247
Investment
Companies*
33,716
—
—
33,716
Total
investments
in
securities
$
8,507,963
$
—
$
—
$
8,507,963
Bond
Market
Index
Fund
Bonds*
—
794,566
—
794,566
Investment
Companies*
96,493
—
—
96,493
Municipal
Bonds*
—
2,740
—
2,740
U.S.
Government
&
Government
Agency
Obligations*
—
2,095,127
—
2,095,127
Total
investments
in
securities
$
96,493
$
2,892,433
$
—
$
2,988,926
Capital
Securities
Fund
Bonds*
—
856,826
—
856,826
Investment
Companies*
39,505
—
—
39,505
Preferred
Stocks*
12,362
—
—
12,362
Total
investments
in
securities
$
51,867
$
856,826
$
—
$
908,693
Diversified
Real
Asset
Fund
Common
Stocks
Basic
Materials
197,487
93,699
—
291,186
Communications
—
8,957
—
8,957
Consumer,
Cyclical
8,061
516
—
8,577
Consumer,
Non-cyclical
47,930
40,583
—
88,513
Energy
363,401
74,907
—
438,308
Financial
409,253
145,744
—
554,997
Industrial
113,838
138,864
—
252,702
Technology
—
7
103
110
May
31,
2026
(unaudited)
122
Fund
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Totals
(Level
1,2,3)
Diversified
Real
Asset
Fund
(continued)
Common
Stocks
(continued)
Utilities
$
279,118
$
151,635
$
—
$
430,753
Investment
Companies*
288,130
—
—
288,130
Preferred
Stocks
Financial
—
—
187
187
Senior
Floating
Rate
Interests*
—
221
—
221
U.S.
Government
&
Government
Agency
Obligations*
—
342,478
—
342,478
Total
investments
in
securities
$
1,707,218
$
997,611
$
290
$
2,705,119
Derivative
Assets
Commodity
Contracts
Futures**
9,264
—
—
9,264
Derivative
Liabilities
Commodity
Contracts
Futures**
(12,808)
—
—
(12,808)
Total
Return
Swaps
—
(1,092)
—
(1,092)
Global
Listed
Infrastructure
Fund
Common
Stocks
Consumer,
Non-cyclical
2,299
6,712
—
9,011
Energy
15,067
1,429
—
16,496
Financial
9,910
—
—
9,910
Industrial
10,350
12,813
—
23,163
Utilities
38,145
13,591
—
51,736
Investment
Companies*
1,755
—
—
1,755
Total
investments
in
securities
$
77,526
$
34,545
$
—
$
112,071
Global
Macro
Fund
Investment
Companies*
146,440
—
—
146,440
Total
investments
in
securities
$
146,440
$
—
$
—
$
146,440
Derivative
Assets
Commodity
Contracts
Futures**
376
—
—
376
Equity
Contracts
Futures**
7,446
—
—
7,446
Foreign
Exchange
Contracts
Foreign
Currency
Contracts
—
6,597
—
6,597
Interest
Rate
Contracts
Futures**
621
—
—
621
Derivative
Liabilities
Commodity
Contracts
Futures**
(1,296)
—
—
(1,296)
Equity
Contracts
Futures**
(1,922)
—
—
(1,922)
Foreign
Exchange
Contracts
Foreign
Currency
Contracts
—
(5,272)
—
(5,272)
Interest
Rate
Contracts
Futures**
(1,302)
—
—
(1,302)
Global
Multi-Strategy
Fund
Bonds*
—
151,776
—
151,776
Common
Stocks
Basic
Materials
6,439
2,374
—
8,813
Communications
17,283
4,988
3,792
26,063
Consumer,
Cyclical
12,672
6,181
—
18,853
Consumer,
Non-cyclical
17,433
12,247
34
29,714
Diversified
10,111
4,224
—
14,335
Energy
7,110
4,058
—
11,168
Financial
19,309
10,472
—
29,781
Industrial
25,571
7,559
—
33,130
Technology
29,286
2,808
—
32,094
Utilities
3,650
2,767
—
6,417
Convertible
Bonds*
—
974
—
974
Convertible
Preferred
Stocks
Basic
Materials
14
—
—
14
Energy
—
—
18
18
May
31,
2026
(unaudited)
123
Fund
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Totals
(Level
1,2,3)
Global
Multi-Strategy
Fund
(continued)
Convertible
Preferred
Stocks
(continued)
Financial
$
6
$
—
$
—
$
6
Technology
26
—
—
26
Utilities
21
—
—
21
Investment
Companies*
132,219
—
—
132,219
Preferred
Stocks
Consumer,
Cyclical
—
533
—
533
Government
535
—
—
535
Senior
Floating
Rate
Interests*
—
4,239
—
4,239
U.S.
Government
&
Government
Agency
Obligations*
—
37,015
—
37,015
Purchased
Options
—
235
—
235
Total
investments
in
securities
$
281,685
$
252,450
$
3,844
$
537,979
Short
Sales
Common
Stocks*
(677)
—
—
(677)
Total
Short
Sales
$
(677)
$
—
$
—
$
(677)
Derivative
Assets
Credit
Contracts
Exchange
Cleared
Credit
Default
Swaps**
—
3
—
3
Commodity
Contracts
Futures**
752
—
—
752
Equity
Contracts
Futures**
1,839
—
—
1,839
Total
Return
Swaps
—
9
—
9
Foreign
Exchange
Contracts
Foreign
Currency
Contracts
—
2,080
—
2,080
Futures**
21
—
—
21
Interest
Rate
Contracts
Exchange
Cleared
Interest
Rate
Swaps**
—
80
—
80
Futures**
600
—
—
600
Total
Return
Swaps
—
33
—
33
Derivative
Liabilities
Credit
Contracts
Credit
Default
Swaps
—
(229)
—
(229)
Exchange
Cleared
Credit
Default
Swaps**
—
(313)
—
(313)
Commodity
Contracts
Futures**
(1,289)
—
—
(1,289)
Equity
Contracts
Futures**
(8)
—
—
(8)
Total
Return
Swaps
—
(611)
—
(611)
Written
Options
—
(1,861)
—
(1,861)
Foreign
Exchange
Contracts
Foreign
Currency
Contracts
—
(1,092)
—
(1,092)
Futures**
(7)
—
—
(7)
Interest
Rate
Contracts
Exchange
Cleared
Interest
Rate
Swaps**
—
(17)
—
(17)
Futures**
(728)
—
—
(728)
Total
Return
Swaps
—
—
—
—
International
Equity
Index
Fund
Common
Stocks
Basic
Materials
—
64,743
—
64,743
Communications
6,292
45,683
—
51,975
Consumer,
Cyclical
2,777
114,045
—
116,822
Consumer,
Non-cyclical
3,030
200,159
—
203,189
Diversified
—
536
—
536
Energy
—
41,808
—
41,808
Financial
1,408
286,466
—
287,874
Industrial
—
190,965
—
190,965
Technology
2,922
93,580
—
96,502
Utilities
—
40,640
—
40,640
Investment
Companies*
26,644
—
—
26,644
Preferred
Stocks
Consumer,
Cyclical
—
1,964
—
1,964
Consumer,
Non-cyclical
—
600
—
600
May
31,
2026
(unaudited)
124
*For
additional
detail
regarding
sector
and/or
sub-industry
classifications,
please
see
the
Schedule
of
Investments.
**Exchange
cleared
swaps
and
futures
are
presented
at
the
unrealized
appreciation/(depreciation)
of
the
instrument.
At
the
end
of
the
period,
there
were
no
Funds
which
had
a
significant
Level
3
balance.
During
the
period,
there
were
no
significant
purchases,
sales,
or
transfers
into
or
out
of
Level
3.
The
Funds'
Schedules
of
Investments
as
of
May
31,
2026
have
not
been
audited.
This
report
is
provided
for
the
general
information
of
the
Funds'
shareholders.
For
more
information
regarding
the
Fund
and
its
holdings,
please
see
the
Funds'
prospectus
and
annual
report.
Fund
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Totals
(Level
1,2,3)
International
Equity
Index
Fund
(continued)
Preferred
Stocks
(continued)
Industrial
$
—
$
374
$
—
$
374
Total
investments
in
securities
$
43,073
$
1,081,563
$
—
$
1,124,636
Derivative
Assets
Equity
Contracts
Futures**
226
—
—
226
International
Small
Company
Fund
Common
Stocks
Basic
Materials
16,624
29,634
—
46,258
Communications
—
9,697
—
9,697
Consumer,
Cyclical
4,386
36,692
—
41,078
Consumer,
Non-cyclical
8,948
33,131
—
42,079
Energy
12,212
4,325
—
16,537
Financial
—
74,642
—
74,642
Industrial
2,175
76,146
—
78,321
Technology
11,446
16,339
—
27,785
Utilities
3,773
8,761
—
12,534
Investment
Companies*
11,481
—
—
11,481
Total
investments
in
securities
$
71,045
$
289,367
$
—
$
360,412
Opportunistic
Municipal
Fund
Common
Stocks
Industrial
—
—
40
40
Investment
Companies*
1,537
—
—
1,537
Municipal
Bonds*
—
191,604
—
191,604
Total
investments
in
securities
$
1,537
$
191,604
$
40
$
193,181
Small-MidCap
Dividend
Income
Fund
Common
Stocks*
1,520,925
—
—
1,520,925
Investment
Companies*
14,911
—
—
14,911
Total
investments
in
securities
$
1,535,836
$
—
$
—
$
1,535,836
Spectrum
Preferred
and
Capital
Securities
Income
Fund
Bonds*
—
4,121,119
—
4,121,119
Convertible
Preferred
Stocks*
2,727
—
—
2,727
Investment
Companies*
117,428
—
—
117,428
Preferred
Stocks*
550,779
—
—
550,779
Total
investments
in
securities
$
670,934
$
4,121,119
$
—
$
4,792,053