2026
Quarterly
Report
|
September
30,
2026
Page
1
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Schedules
of
Investments
September
30,
2026
(unaudited)
Muirfield
Fund
Security
Description
Shares,
Contracts
or
Principal
Amount
($)
Fair
Value
($)
Common
Stocks
(United
States)
—
67
.9
%
Communication
Services
—
5.2%
Alphabet
Inc
.......................
141,335
48,158,488
Comcast
Corp
......................
75,448
1,641,748
Meta
Platforms
Inc
...................
24,073
17,457,258
Space
Exploration
Technologies
Corp
(1)
......
5,966
900,031
68,157,525
Consumer
Discretionary
—
2.5%
Abercrombie
&
Fitch
Co
(1)
...............
8,065
1,086,275
Adient
PLC
(1)
.......................
2,501
42,117
Amazon.com
Inc
(1)
...................
23,754
5,918,309
Asbury
Automotive
Group
Inc
(1)
...........
2,829
487,437
Brinker
International
Inc
(1)
..............
24,727
4,785,416
Cavco
Industries
Inc
(1)
.................
1,197
670,631
Chipotle
Mexican
Grill
Inc
(1)
.............
8,679
277,294
Dana
Inc
..........................
11,078
302,540
Five
Below
Inc
(1)
.....................
4,945
1,085,774
Flexsteel
Industries
Inc
................
2,878
243,623
Frontdoor
Inc
(1)
......................
368
26,908
Garmin
Ltd
........................
1,188
340,766
Garrett
Motion
Inc
...................
10,738
279,510
General
Motors
Co
...................
11,639
896,203
Lear
Corp
.........................
33,134
3,910,806
Life
Time
Group
Holdings
Inc
(1)
...........
38,704
1,543,515
Murphy
USA
Inc
.....................
6,268
3,159,260
Oxford
Industries
Inc
..................
2,999
73,296
Pattern
Group
Inc
(1)
...................
5,590
95,924
Phoenix
Education
Partners
Inc
...........
8,927
227,014
Royal
Caribbean
Cruises
Ltd
............
20,437
5,433,381
SharkNinja
Inc
(1)
.....................
646
116,357
Sonos
Inc
(1)
........................
1,803
32,256
Victoria's
Secret
&
Co
(1)
................
19,732
1,745,493
XPEL
Inc
(1)
.........................
2,176
96,114
32,876,219
Consumer
Staples
—
1.7%
Archer-Daniels-Midland
Co
.............
7,908
627,737
Colgate-Palmolive
Co
.................
2,712
231,388
Costco
Wholesale
Corp
................
20,916
19,040,672
Dollar
Tree
Inc
(1)
.....................
322
36,714
J
&
J
Snack
Foods
Corp
...............
618
47,246
Philip
Morris
International
Inc
............
8,163
1,557,664
21,541,421
Energy
—
2.3%
APA
Corp
.........................
8,528
354,253
Chevron
Corp
......................
19,764
4,036,007
Devon
Energy
Corp
...................
41,299
1,901,406
EOG
Resources
Inc
...................
11,973
1,649,401
Expand
Energy
Corp
..................
44,411
3,734,521
Forum
Energy
Technologies
Inc
(1)
.........
954
77,226
Gulfport
Energy
Corp
(1)
................
8,717
1,311,734
HF
Sinclair
Corp
.....................
13,288
1,426,068
Marathon
Petroleum
Corp
..............
3,484
1,377,643
Nabors
Industries
Ltd
(1)
................
19,025
1,486,233
Par
Pacific
Holdings
Inc
(1)
...............
6,682
545,385
Phillips
66
.........................
11,946
3,049,933
Valero
Energy
Corp
...................
19,388
7,514,983
Viper
Energy
Inc
.....................
25,473
1,016,118
29,480,911
Financials
—
9.6%
Ally
Financial
Inc
....................
124,455
4,681,997
Ameriprise
Financial
Inc
...............
22,210
10,935,094
Arch
Capital
Group
Ltd
(1)
...............
43,671
4,033,454
Assurant
Inc
.......................
2,820
743,070
Bank
of
New
York
Mellon
Corp/The
........
99,030
14,322,709
Berkshire
Hathaway
Inc
(1)
..............
30,757
15,315,448
Bread
Financial
Holdings
Inc
............
407
39,784
CME
Group
Inc
......................
11,738
3,075,121
Customers
Bancorp
Inc
(1)
...............
52,348
3,873,752
First
American
Financial
Corp
............
19,494
1,184,066
HCI
Group
Inc
......................
6,824
1,186,148
Jack
Henry
&
Associates
Inc
............
36,797
5,270,802
LendingTree
Inc
(1)
....................
6,863
167,663
Loews
Corp
........................
5,121
534,786
Mastercard
Inc
.....................
60,353
33,282,869
Mercury
General
Corp
.................
2,426
239,810
Moelis
&
Co
.......................
2,324
133,677
Northern
Trust
Corp
..................
10,159
1,720,528
Pathward
Financial
Inc
................
5,381
382,804
Progressive
Corp/The
.................
9,858
2,043,662
QCR
Holdings
Inc
....................
4,411
431,727
Raymond
James
Financial
Inc
...........
5,771
911,933
Remitly
Global
Inc
(1)
..................
12,660
270,164
S&T
Bancorp
Inc
....................
5,453
263,762
State
Street
Corp
....................
9,361
1,634,337
Toast
Inc
(1)
........................
79,548
2,306,097
Visa
Inc
..........................
46,392
16,670,037
WEX
Inc
(1)
.........................
1,742
293,875
125,949,176
Health
Care
—
10.2%
AbbVie
Inc
........................
51,645
13,509,815
Agilent
Technologies
Inc
...............
813
140,088
Amgen
Inc
........................
32,209
13,576,416
Bristol-Myers
Squibb
Co
...............
30,599
1,909,378
Cardinal
Health
Inc
...................
10,929
2,431,702
CareDx
Inc
(1)
.......................
9,137
593,905
Caris
Life
Sciences
Inc
(1)
...............
2,765
84,692
2026
Quarterly
Report
|
September
30,
2026
Page
2
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Schedules
of
Investments
September
30,
2026
(unaudited)
Centene
Corp
(1)
.....................
12,732
790,912
Cigna
Group/The
....................
12,017
3,266,581
CVS
Health
Corp
....................
29,915
2,563,416
Elevance
Health
Inc
..................
9,413
3,659,963
Eli
Lilly
&
Co
.......................
14,532
16,814,687
Encompass
Health
Corp
...............
23,586
2,865,463
Gilead
Sciences
Inc
..................
66,395
9,896,175
Humana
Inc
.......................
1,022
389,964
IQVIA
Holdings
Inc
(1)
..................
1,113
299,230
Johnson
&
Johnson
..................
73,298
19,404,912
McKesson
Corp
.....................
3,457
2,951,621
Merck
&
Co
Inc
.....................
36,194
5,259,350
Mettler-Toledo
International
Inc
(1)
.........
1,266
1,912,863
Natera
Inc
(1)
........................
14,378
5,942,571
Regeneron
Pharmaceuticals
Inc
..........
3,918
2,970,902
Twist
Bioscience
Corp
(1)
................
1,561
301,648
United
Therapeutics
Corp
(1)
.............
6,904
3,741,209
UnitedHealth
Group
Inc
................
20,163
7,401,434
Vertex
Pharmaceuticals
Inc
(1)
............
13,287
6,946,576
West
Pharmaceutical
Services
Inc
.........
7,675
2,845,583
Zoetis
Inc
.........................
4,800
335,184
132,806,240
Industrials
—
3.7%
Acuity
Inc
.........................
1,135
351,634
Allegion
plc
........................
11,664
1,793,573
Apogee
Enterprises
Inc
................
3,450
122,026
Applied
Industrial
Technologies
Inc
........
3,524
1,170,990
Blue
Bird
Corp
(1)
.....................
711
39,460
Comfort
Systems
USA
Inc
..............
2,806
4,641,377
Copart
Inc
(1)
........................
128,815
3,514,073
Dover
Corp
........................
1,384
258,877
Emerson
Electric
Co
..................
5,994
929,669
Everus
Construction
Group
Inc
(1)
..........
1,118
131,387
Innodata
Inc
(1)
......................
14,352
943,788
Johnson
Controls
International
plc
.........
9,468
1,407,418
Kforce
Inc
.........................
863
45,273
Lincoln
Electric
Holdings
Inc
.............
13,038
3,449,594
Lockheed
Martin
Corp
.................
158
80,462
ManpowerGroup
Inc
..................
7,797
433,357
Matson
Inc
........................
231
50,737
McGrath
RentCorp
...................
5,050
577,468
MYR
Group
Inc
(1)
....................
272
79,549
Northrop
Grumman
Corp
...............
7,669
3,707,808
SkyWest
Inc
(1)
......................
36,404
3,528,276
Southwest
Airlines
Co
.................
69,442
2,891,565
Stanley
Black
&
Decker
Inc
.............
34,098
3,020,742
Toro
Co/The
.......................
856
82,536
United
Airlines
Holdings
Inc
(1)
............
53,263
5,909,530
Vicor
Corp
(1)
........................
1,603
463,171
Watts
Water
Technologies
Inc
............
1,039
367,993
Xylem
Inc/NY
.......................
87,960
8,907,709
48,900,042
Information
Technology
—
28.5%
Advanced
Micro
Devices
Inc
(1)
...........
23,005
14,073,539
Amkor
Technology
Inc
.................
9,932
520,238
Amphenol
Corp
.....................
13,749
1,159,041
Analog
Devices
Inc
...................
22,075
8,757,373
Apple
Inc
.........................
216,766
72,187,413
Applied
Materials
Inc
.................
18,109
9,260,580
Arrow
Electronics
Inc
(1)
................
519
117,813
Astera
Labs
Inc
(1)
....................
2,092
744,689
Atlassian
Corp
(1)
.....................
5,123
918,503
Broadcom
Inc
......................
73,725
25,891,483
CDW
Corp/DE
......................
19,382
2,483,997
Cisco
Systems
Inc
...................
72,902
7,846,442
Core
Scientific
Inc
(1)
..................
37,746
603,181
Credo
Technology
Group
Holding
Ltd
(1)
......
5,787
1,127,250
Crowdstrike
Holdings
Inc
(1)
..............
8,365
2,214,634
Dell
Technologies
Inc
.................
5,919
3,184,126
Diebold
Nixdorf
Inc
(1)
..................
3,354
205,332
DXC
Technology
Co
(1)
.................
5,049
54,681
Everpure
Inc
(1)
......................
24,998
3,269,238
Hewlett
Packard
Enterprise
Co
...........
24,681
1,576,869
HP
Inc
...........................
21,830
682,842
Insight
Enterprises
Inc
(1)
................
7,303
1,141,605
Intel
Corp
(1)
........................
53,713
6,457,914
Jabil
Inc
..........................
1,073
307,801
KLA
Corp
.........................
14,378
2,802,704
Lam
Research
Corp
..................
24,347
7,998,233
Manhattan
Associates
Inc
(1)
.............
21,647
4,301,259
Marvell
Technology
Inc
................
8,279
2,187,395
MaxLinear
Inc
(1)
.....................
1,972
178,091
Micron
Technology
Inc
................
15,746
16,771,222
Microsoft
Corp
......................
111,267
57,068,844
Monolithic
Power
Systems
Inc
...........
1,246
1,678,636
NVIDIA
Corp
.......................
326,463
74,557,620
Okta
Inc
(1)
.........................
4,433
926,985
QUALCOMM
Inc
.....................
30,337
5,583,222
RingCentral
Inc
.....................
10,996
821,401
Sandisk
Corp
(1)
......................
2,171
3,777,301
TD
SYNNEX
Corp
....................
24,472
6,285,633
Teledyne
Technologies
Inc
(1)
.............
9,451
5,734,961
Teradyne
Inc
.......................
3,809
1,527,066
Texas
Instruments
Inc
.................
25,066
7,020,736
Tyler
Technologies
Inc
(1)
................
553
176,186
Ubiquiti
Inc
........................
1,796
1,019,284
Universal
Display
Corp
................
6,554
504,920
Western
Digital
Corp
..................
7,374
3,351,188
Zebra
Technologies
Corp
(1)
..............
8,966
3,347,098
372,406,569
Materials
—
1.6%
Anglogold
Ashanti
Plc
.................
28,032
2,633,606
CF
Industries
Holdings
Inc
..............
12,328
1,420,186
Coeur
Mining
Inc
....................
35,222
619,907
Ingevity
Corp
(1)
......................
3,150
222,862
2026
Quarterly
Report
|
September
30,
2026
Page
3
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Schedules
of
Investments
September
30,
2026
(unaudited)
Kaiser
Aluminum
Corp
.................
3,526
510,635
Newmont
Corp
.....................
37,805
4,360,429
Nucor
Corp
........................
16,934
3,958,323
Reliance
Inc
.......................
3,970
1,527,458
Royal
Gold
Inc
......................
21,150
4,991,400
SSR
Mining
Inc
.....................
23,407
779,921
21,024,727
Real
Estate
—
2.3%
CBL
&
Associates
Properties
Inc
..........
2,343
125,023
Cousins
Properties
Inc
................
36,199
1,000,540
Jones
Lang
LaSalle
Inc
(1)
...............
18,261
5,579,101
Simon
Property
Group
Inc
..............
114,469
22,980,796
29,685,460
Utilities
—
0.3%
Edison
International
..................
82,995
4,459,321
4,459,321
Total
Common
Stocks
(United
States)
(
Cost
$
652,818,314
)
................
887,287,611
Money
Market
Registered
Investment
Companies
—
29
.4
%
Meeder
Government
Money
Market
Fund
,
3.72
%
(2)
........................
384,043,715
384,043,715
Total
Money
Market
Registered
Investment
Companies
(
Cost
$
384,043,715
)
................
384,043,715
Total
Investments
—
97
.3
%
(Cost
$
1,036,862,029
)
...............
1,271,331,326
Other
Assets
less
Liabilities
—
2
.7
%
.......
34,816,070
Total
Net
Assets
—
100
.0
%
.............
1,306,147,396
Security
Description
Shares,
Contracts
or
Principal
Amount
($)
Fair
Value
($)
Trustee
Deferred
Compensation
(3)
Meeder
Balanced
Fund
-
Retail
Class
.......
7,764
113,200
Meeder
Conservative
Allocation
Fund
-
Retail
Class
..........................
1,132
27,303
Meeder
Dynamic
Allocation
Fund
-
Retail
Class
15,364
253,196
Meeder
Muirfield
Fund
-
Retail
Class
.......
14,018
157,002
Total
Trustee
Deferred
Compensation
(Cost
$
389,000
)
...................
550,701
Long
(Short)
Contracts
Expiration
Date
Notional
Value
of
Contracts
($)
Value
and
Unrealized
Appreciation
(Depreciation)
($)
Futures
Contracts
Other
Futures
Mini
MSCI
EAFE
Futures
-
Dec
2026
........
847
12/17/26
132,835,010
(
1,824,455
)
Mini
MSCI
Emg
Mkt
Futures
-
Dec
2026
..
446
12/17/26
38,155,300
512,106
Russell
2000
Futures
Mini
December
2026
....
474
12/17/26
66,774,750
(
2,310,509
)
S&P
500
Mini
Futures
December
2026
....
237
12/17/26
91,428,675
278,552
S&P
Mid
Cap
Futures
EMini
December
2026
89
12/17/26
32,239,360
(
719,121
)
Total
Futures
Contracts
.
2,093
361,433,095
(
4,063,427
)
(1)
Represents
non-income
producing
securities.
(2)
Investment
in
affiliate.
The
yield
shown
represents
the
7-day
yield
in
effect
at
September
30,
2026.
(3)
Assets
of
affiliates
to
the
Muirfield
Fund
held
for
the
benefit
of
the
Fund’s
Trustees
in
connection
with
the
Trustee
Deferred
Compensation
Plan.