UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number File No. 811-09301

TIAA-CREF FUNDS

(Exact Name of Registrant as specified in charter)

730 Third Avenue, New York, New York 10017-3206

(Address of Principal Executive Offices) (Zip code)

Jeremy D. Franklin, Esq.

TIAA-CREF Funds

8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

Registrant’s telephone number, including area code: 704-595-1000

Date of fiscal year end: October 31

Date of reporting period: October 31, 2023

Item 1.  Reports to Stockholders.

Equity

Funds

TIAA-CREF

Annual

Report

TIAA-CREF

Funds

October

31,

2023

Fund

Name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1

TIAA-CREF

Growth

&

Income

Fund

TIGRX

TGIHX

TRPGX

TRGIX

TIIRX

TGIWX

2.2

TIAA-CREF

Large-Cap

Growth

Fund

TILGX

TILHX

TILPX

TILRX

TIRTX

TILWX

2.3

TIAA-CREF

Large-Cap

Value

Fund

TRLIX

TRLHX

TRCPX

TRLCX

TCLCX

TRLWX

2.4

TIAA-CREF

Mid-Cap

Growth

Fund

TRPWX

TCMHX

TRGPX

TRGMX

TCMGX

–

2.5

TIAA-CREF

Mid-Cap

Value

Fund

TIMVX

TRVHX

TRVPX

TRVRX

TCMVX

–

2.6

TIAA-CREF

Quant

Small-Cap

Equity

Fund

TISEX

TSCHX

TSRPX

TRSEX

TCSEX

TSCWX

2.7

TIAA-CREF

Quant

Small/Mid-Cap

Equity

Fund

TSMWX

TSMNX

TSMMX

TSMOX

TSMEX

TSMUX

2.8

TIAA-CREF

Social

Choice

Equity

Fund

TISCX

TICHX

TRPSX

TRSCX

TICRX

–

2.9

TIAA-CREF

Social

Choice

Low

Carbon

Equity

Fund

TNWCX

TCCHX

TPWCX

TEWCX

TLWCX

–

3.01

TIAA-CREF

Emerging

Markets

Equity

Fund

TEMLX

TEMHX

TEMPX

TEMSX

TEMRX

TEMVX

3.1

TIAA-CREF

International

Equity

Fund

TIIEX

TIEHX

TREPX

TRERX

TIERX

TIEWX

3.2

TIAA-CREF

International

Opportunities

Fund

TIOIX

TIOHX

TIOPX

TIOTX

TIOSX

TIOVX

3.3

TIAA-CREF

Quant

International

Small-Cap

Equity

Fund

TIISX

TAISX

TPISX

TTISX

TLISX

TAIWX

3.4

TIAA-CREF

Social

Choice

International

Equity

Fund

TSONX

TSOHX

TSOPX

TSOEX

TSORX

–

Table

of

Contents

Letter

to

Investors

3

Important

Notices

5

Market

Monitor

6

About

the

Funds’

Benchmarks

7

Portfolio

Managers’

Comments

9

Fund

Performance

20

Expense

Examples

48

Report

of

Independent

Registered

Public

Accounting

Firm

54

Portfolios

of

Investments

55

Statement

of

Assets

and

Liabilities

140

Statement

of

Operations

148

Statement

of

Changes

in

Net

Assets

152

Financial

Highlights

158

Notes

to

Financial

Statements

186

Important

Tax

Information

207

Additional

Fund

Information

209

Trustees

and

Officers

210

Additional

Information

About

Index

Providers

213

3

Letter

to

Investors

Brad

Finkle

Global

stocks

posted

solid

gains

for

the

twelve

months

ended

October

31,

2023.

The

U.S.

economy

continued

to

grow

despite

interest

rates

climbing

higher.

Around

the

world,

major

foreign

economies

also

expanded

as

central

banks

tightened

monetary

policies.

For

the

twelve

months:

The

Russell

3000®

Index,

which

measures

the

performance

of

the

broad

U.S.

stock

market,

advanced

8.4%.

The

MSCI

EAFE®

Index,

which

tracks

stocks

in

21

developed-markets

nations

outside

North

America,

gained

14.4%.

The

MSCI

Emerging

Markets

Index,

which

represents

the

performance

of

stocks

in

24

developing

nations,

rose

10.8%.

Eleven

of

the

14

TIAA-CREF

Equity

Funds

(Institutional

Class)

recorded

gains.

Nine

of

the

funds

outperformed

their

respective

benchmarks

for

the

period.

U.S.

economy

stayed

on

growth

track

Domestic

stocks

generally

produced

solid

results

as

the

U.S.

economy

grew

amid

ongoing

inflation

concerns.

The

labor

market

was

strong

and

consumer

spending

remained

resilient

despite

rising

interest

rates.

After

three

quarters

of

moderate

growth,

the

economy

expanded

at

an

accelerated

pace

during

the

third

quarter

of

2023.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–5.50%.

Policymakers

left

rates

unchanged

at

a

meeting

late

in

the

period,

but

indicated

one

more

increase

was

possible

before

the

end

of

the

year.

For

the

twelve

months,

large-cap

stocks

outperformed

mid-

and

small-cap

shares,

both

of

which

lost

ground,

while

growth

equities

outperformed

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Foreign

developed

and

emerging

markets

outperformed

U.S.

stocks

Foreign

developed-markets

stocks

generated

double-digit

gains

as

many

of

the

world’s

large

economies

continued

to

grow

over

the

twelve-month

period.

The

economy

of

the

19-nation

euro

area

expanded

on

a

year-over-year

basis,

but

the

pace

of

growth

slowed.

Inflation

remained

a

pressing

concern

in

Europe

and

the

United

Kingdom.

As

such,

the

European

Central

Bank

increased

its

suite

of

benchmark

interest

rates

multiple

times

during

the

period.

Similarly,

the

Bank

of

England

raised

its

benchmark

rate

to

5.25%.

Emerging-markets

stocks

posted

a

strong

advance,

although

they

gave

up

a

portion

of

their

gains

over

the

final

three

months

of

the

period.

China’s

economy

grew

over

the

period,

despite

a

struggling

real

estate

sector.

Nine

funds

outperformed

their

benchmarks

Eleven

of

the

14

TIAA-CREF

Equity

Funds

produced

gains

and

nine

outperformed

their

respective

benchmarks.

Performance

ranged

from

22.9%

for

the

Large-Cap

Growth

Fund

to

−5.4%

for

the

Quant

Small-Cap

Equity

Fund.

(All

fund

returns

are

for

the

Institutional

Class.)

Fund

performance

generally

reflected

market

trends

that

tended

to

favor

international

equities,

as

well

as

large-cap

and

growth-oriented

stocks.

The

Social

Choice

International

Equity

Fund

advanced

15.9%,

and

the

International

Equity

Fund

gained

14.9%.

Both

outpaced

their

shared

benchmark,

the

MSCI

EAFE

Index.

The

Emerging

Markets

Equity

Fund

rose

13.1%,

outperforming

the

MSCI

Emerging

Markets

Index.

The

Quant

International

Small-Cap

Equity

Fund

gained

9.1%,

surpassing

the

performance

of

the

MSCI

All

Country

World

(ACWI)

ex

USA

Small

Cap

Index.

The

International

Opportunities

Fund

returned

2.7%

and

trailed

its

benchmark,

the

MSCI

All

Country

World

(ACWI)

ex

USA

Index.

Among

domestic

funds,

the

Large-Cap

Growth

Fund

gained

22.9%

and

outperformed

the

Russell

1000®

Growth

Index.

The

Growth

&

Income

Fund

advanced

15.2%

and

outpaced

its

benchmark,

the

S&P

500®

Index.

Letter

to

Investors

(continued)

4

The

Social

Choice

Low

Carbon

Equity

Fund

gained

7.0%

and

the

Social

Choice

Equity

Fund

returned

6.4%,

but

both

funds

trailed

their

shared

benchmark,

the

Russell

3000

Index.

The

Large-Cap

Value

Fund

advanced

3.4%,

outpacing

the

Russell

1000

Value

Index.

The

Mid-Cap

Growth

Fund’s

gain

of

0.5%

trailed

the

Russell

Mid-Cap®

Growth

Index.

The

Quant

Small/Mid-Cap

Equity

Fund

returned

−1.3%

but

outpaced

the

Russell

2500™

Index.

The

Mid-Cap

Value

Fund

returned

−4.9%,

trailing

the

Russell

Mid-Cap

Value

Index.

The

Quant

Small-Cap

Equity

Fund’s

return

of

−5.4%

outperformed

the

Russell

2000®

Index.

Maintaining

a

thoughtful

financial

plan

during

uncertain

times

Over

the

last

twelve

months,

global

economies

have

shown

great

resilience

in

the

midst

of

persistent

inflation

and

higher

interest

rates.

In

the

United

States,

consumer

spending

remained

strong,

and

the

labor

market

continued

on

a

positive

trajectory

with

relatively

low

levels

of

unemployment.

Furthermore,

the

stock

market

generally

performed

well,

although

the

journey

certainly

had

its

ups

and

downs.

As

a

result,

it

is

important

to

have

a

long-term

financial

plan

and

stay

focused

on

that

plan

during

the

inevitable

periods

of

volatility.

We

believe

that

by

working

with

a

financial

advisor

and

maintaining

a

diversified

portfolio

of

mutual

funds

that

invest

in

different

asset

classes—including

equities—

investors

can

achieve

their

long-term

investment

objectives.

Of

course,

diversification

does

not

guarantee

against

market

losses.

If

you

have

any

questions

or

would

like

to

talk

about

your

portfolio,

please

contact

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

We

would

be

pleased

to

help

you.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

Important

Notices

5

Securities

and

Exchange

Commission

(the

“SEC”)

Adopts

Amendments

for

Tailored

Shareholder

Reports

On

October

26,

2022,

the

SEC

adopted

rule

and

form

amendments

(the

“Amendments”)

that

require

mutual

funds

and

exchange-

traded

funds

registered

on

Form

N-1A

to

provide

shareholders

with

streamlined

annual

and

semi-annual

shareholder

reports

(“Tailored

Shareholder

Reports”). The

Amendments

require

funds

to

prepare

a

separate

Tailored

Shareholder

Report

for

each

share

class

of

each

series

of

a

fund.

As

a

result,

shareholders

will

receive

a

report

that

covers

only

the

class

of

a

multi-class

fund

in

which

the

shareholder

invests.

Tailored

Shareholder

Reports

are

meant

to

be

three

to

four

pages

in

length

and

will

highlight

key

information

such

as

a

fund’s

expenses,

performance

and

portfolio

holdings.

Other,

more

detailed

information

that

currently

appears

in

fund

shareholder

reports

will

be

made

available

online,

filed

with

the

SEC,

and

delivered

to

investors

free

of

charge

in

paper

or

electronically

upon

request.

The

first

Tailored

Shareholder

Reports

to

be

prepared

for

these

Funds

will

be

for

the

reporting

period

ended

October

31,

2024.

Portfolio

Manager

Update

for

Growth

&

Income

Fund

Effective

November

8,

2022,

Susan

Kempler,

was

removed

as

a

portfolio

manager

of

the

Fund

and

Valerie

Grant,

CFA,

and

Evan

Staples,

CFA,

were

added

as

portfolio

managers

of

the

Fund.

There

were

no

other

changes

to

the

portfolio

management

of

the

Fund

during

the

reporting

period.

Portfolio

Manager

Update

for

Large-Cap

Value

Fund

Effective

March

21,

2023

Rossana

Ivanova,

was

added

as

a

portfolio

manager

of

the

Fund.

There

were

no

other

changes

to

the

portfolio

management

of

the

Fund

during

the

reporting

period.

Portfolio

Manager

Update

for

Mid-Cap

Growth

Fund

Effective

March

21,

2023,

Bihag

Patel,

CFA,

and

Casey

Weston,

CFA,

were

added

as

portfolio

managers

of

the

Fund.

There

were

no

other

changes

to

the

portfolio

management

of

the

Fund

during

the

reporting

period.

Portfolio

Manager

Update

for

Emerging

Markets

Equity

Fund

Effective

March

21,

2023,

Lisa

Wang,

was

removed

as

a

portfolio

manager

of

the

Fund

and

Willis

Tsai,

was

added

as

a

portfolio

manager

of

the

Fund.

There

were

no

other

changes

to

the

portfolio

management

of

the

Fund

during

the

reporting

period.

Portfolio

Manager

Update

for

Quant

International

Small-Cap

Equity

Fund

Effective

March

21,

2023,

Yuchang

(Charles)

Huang,

CFA,

was

added

as

a

portfolio

manager

of

the

Fund.

There

were

no

other

changes

to

the

portfolio

management

of

the

Fund

during

the

reporting

period.

Market

Monitor

6

Stocks

gained

as

economy

grew

For

the

twelve

months

ended

October

31,

2023,

U.S.

stocks

generally

rose

amid

continued

economic

growth

driven

by

a

strong

labor

market

and

robust

consumer

spending.

The

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

advanced

8.4%.

International

developed-

and

emerging-markets

stocks

posted

larger

gains.

U.S.

economy

maintained

a

growth

trajectory

The

U.S.

economy

expanded

with

the

pace

of

growth

accelerating

late

in

the

twelve-month

period.

The

employment

market

remained

solid

and

consumer

spending

held

strong

despite

higher

interest

rates.

Real

gross

domestic

product

(GDP),

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

grew

at

an

annualized

rate

of

2.6%

in

the

fourth

quarter

of

2022.

GDP

expanded

by

2.2%

and

2.1%

in

the

first

and

second

quarters

of

2023,

respectively.

Growth

accelerated

to

4.9%

during

the

third

quarter

of

the

year,

according

to

the

government’s

“advance”

estimate.

The

unemployment

rate

increased

during

the

period,

rising

from

3.6%

(revised

from

3.7%)

in

November

2022

to

3.9%

in

October

2023.

The

rate

had

dipped

to

as

low

as

3.4%

in

both

January

and

April

of

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

in

October.

However,

core

inflation

receded

from

6.0%

where

it

began

the

period.

Oil

prices

fluctuated

but

ended

the

period

lower.

The

price

of

West

Texas

Intermediate

crude

oil

declined

from

$88

per

barrel

on

November

1,

2022,

to

less

than

$82

on

October

31,

2023.

Large-cap

and

growth

stocks

produced

the

best

returns

Among

U.S.

equity

investment

styles,

large-cap

shares

outperformed

mid-

and

small-cap

stocks,

while

growth

equities

outpaced

value

shares

in

all

size

categories.

Large-cap

stocks

gained

9.5%,

while

mid-cap

shares

returned

−1.0%,

and

small-

cap

equities

returned

−8.6%.

Among

large

caps,

growth

stocks

rose

19.0%,

and

value

shares

gained

a

modest

0.1%.

Within

the

mid-cap

segment,

growth

equities

advanced

3.4%,

while

value

stocks

returned

−3.6%.

In

the

small-cap

category,

growth

equities

returned

−7.6%,

and

value

stocks

returned

−9.9%.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

International

stocks

experienced

strong

gains

for

the

period.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

21

developed-markets

countries

outside

North

America,

gained

14.4%.

The

MSCI

Emerging

Markets

Index

advanced

10.8%.

Stocks

rose

despite

higher

interest

rates

For

the

twelve-month

period,

U.S.

equities

generally

gained

ground

amid

a

growing

economy.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

Major

economies

around

the

world

grew

during

the

period.

The

economy

of

the

19-nation

euro

area

expanded

for

four

straight

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew,

despite

concerns

over

the

nation’s

real

estate

sector.

Central

banks

continued

to

tighten

monetary

policies

with

a

series

of

rate

increases.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

Most

global

equities

posted

gains

Performance

for

the

twelve

months

ended

October

31,

2023

Source:

U.S.

small-cap

growth:

Russell

2000®

Growth

Index;

U.S.

small-cap

value:

Russell

2000

Value

Index;

U.S.

mid-cap

growth:

Russell

Midcap®

Growth

Index;

U.S.

mid-cap

value:

Russell

Midcap

Value

Index;

U.S.

large-cap

growth:

Russell

1000®

Growth

Index;

U.S.

large-cap

value:

Russell

1000

Value

Index;

Emerging

markets:

MSCI

Emerging

Markets

Index;

Foreign

developed

markets:

MSCI

EAFE®

Index.

Twelve-month

returns

as

of

October

31,

2023.

7

About

the

Funds’

Benchmarks

Broad

market

indexes

Russell

3000®

Index:

An

index

designed

to

measure

the

performance

of

the

stocks

of

the

3,000

largest

publicly

traded

U.S.

companies,

based

on

market

capitalization.

The

index

measures

the

performance

of

about

98%

of

the

total

market

capitalization

of

the

publicly

traded

U.S.

equity

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

MSCI

All

Country

World

ex

USA

Index:

An

index

designed

to

measure

the

performance

of

large

and

mid-cap

securities

across

22

of

23

developed

market

countries

(excluding

the

U.S.)

and

24

emerging

market

countries.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

MSCI

EAFE®

(Europe,

Australasia,

Far

East)

Index:

An

index

designed

to

measure

the

performance

of

large

and

mid-cap

securities

across

21

developed

market

countries,

excluding

the

U.S.

and

Canada.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

MSCI

Emerging

Markets

Index:

An

index

designed

to

measure

the

performance

of

large

and

mid-cap

equity

securities

across

24

emerging

market

countries.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Large-cap

indexes

S&P

500®

Index:

An

index

generally

considered

representative

of

the

U.S.

equity

market.

The

index

includes

500

leading

companies

and

covers

approximately

80%

of

available

market

capitalization.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

1000®

Growth

Index:

An

index

designed

to

measure

the

performance

of

the

large-cap

growth

segment

of

the

U.S.

equity

universe.

It

includes

those

Russell

1000

companies

with

higher

price-to-book

ratios

and

higher

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

1000

Value

Index:

An

index

designed

to

measure

the

performance

of

the

large-cap

value

segment

of

the

U.S.

equity

universe.

It

includes

those

Russell

1000

companies

with

lower

price-to-book

ratios

and

lower

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Mid-cap

indexes

Russell

Midcap®

Growth

Index:

An

index

designed

to

measure

the

performance

of

the

mid-cap

growth

segment

of

the

U.S.

equity

universe,

and

includes

those

Russell

Midcap®

Index

companies

with

higher

price-to-book

ratios

and

higher

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

Midcap

Value

Index:

An

index

designed

to

measure

the

performance

of

the

mid-cap

value

segment

of

the

U.S.

equity

universe,

and

includes

those

Russell

Midcap®

Index

companies

with

lower

price-to-book

ratios

and

lower

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Small/mid-cap

index

Russell

2500

™

Index:

An

index

designed

to

measure

the

performance

of

the

small

to

mid-cap

segment

of

the

U.S.

equity

universe.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Small-cap

indexes

Russell

2000®

Index:

An

index

designed

to

measure

the

performance

of

the

small-cap

segment

of

the

U.S.

equity

universe.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

MSCI

ACWI

ex

USA

Small

Cap

Index:

An

index

designed

to

measure

the

performance

of

small-cap

stocks

in

22

developed-

markets

countries,

excluding

the

United

States,

and

24

emerging-markets

countries.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds’

latest

prospectus.

About

the

Funds’

Benchmarks

(continued)

8

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

“LSE

Group”).

©

LSE

Group

2023.

FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

“FTSE®,”

“Russell®”

and

“FTSE

Russell®”

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company’s

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

MSCI

makes

no

express

or

implied

warranties

or

representations

and

shall

have

no

liability

whatsoever

with

respect

to

any

MSCI

data

contained

herein.

This

report

is

not

approved,

reviewed

or

produced

by

MSCI.

S&P

500

is

a

registered

trademark

and

service

mark

of

Standard

&

Poor’s

Financial

Services,

LLC,

a

division

of

S&P

Global.

Portfolio

Managers’

Comments

9

Growth

&

Income

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Growth

&

Income

Fund returned

15.18%

for

the

Institutional

Class,

compared

with

the

10.14% return

of

its

benchmark,

the

S&P

500®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

large-cap-oriented

S&P

500

Index

outperformed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

A

portion

of

the

Russell

3000

Index

consists

of

small-cap

equities,

which

underperformed

large

caps

for

the

period.

Gains

in

a

number

of

sectors

offset

losses

in

others

Five

of

the

eleven

industry

sectors

in

the

S&P

500

Index

posted

gains

for

the

twelve

months.

Communication

services

and

information

technology—the

benchmark’s

largest

sector—were

the

clear

leaders,

surging

35.8%

and

29.3%,

respectively.

Consumer

discretionary,

industrials

and

materials,

which

climbed

6.7%,

6.0%

and

4.8%,

respectively,

were

the

other

positive

performers.

Together,

these

five

sectors

represented

more

than

60.0%

of

the

index’s

total

market

capitalization

on

October

31,

2023.

The

utilities

and

real

estate

sectors,

which

tend

to

be

particularly

sensitive

to

rising

interest

rates,

were

the

worst

performers,

returning

−7.7%

and

−6.4%,

respectively.

Next

in

line

was

the

defensive

health

care

sector,

which

returned

−4.6%.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

S&P

500

Index

registered

gains

that

surpassed

the

overall

return

of

the

benchmark.

Technology

company

NVIDIA

performed

especially

well,

lifted

by

a

wave

of

investment

in

artificial

intelligence

tools

that

drove

strong

demand

for

its

semiconductors.

Next

came

Microsoft,

which

reported

robust

growth

in

its

cloud-computing

business.

Alphabet

(the

parent

company

of

Google),

Amazon.com

and

Apple

also

outperformed

as

worries

that

higher

interest

rates

might

ultimately

slow

the

U.S.

economy

led

investors

to

favor

larger

companies

with

strong

balance

sheets.

Fund

surpassed

its

benchmark

A

number

of

stock

choices

helped

the

Fund

outperform

its

benchmark.

The

top

contributor

to

relative

performance

was

an

overweight

position

in

NVIDIA.

The

next-largest

contributors

were

overweight

positions

in

cybersecurity

company

Palo

Alto

Networks,

which

joined

the

S&P

500

Index

in

June

2023,

and

software

provider

Oracle,

which

benefited

from

growing

demand

for

its

cloud

services.

Conversely,

the

largest

detractors

were

overweight

positions

in

pharmaceutical

firm

Bristol-Myers

Squibb,

which

faced

heightened

competition

from

certain

generic

drugs,

and

agriculture

company

Corteva,

which

experienced

slowing

sales

of

its

crop

protection

products.

An

overweight

position

in

SVB

Financial

also

hurt

relative

performance.

Large-Cap

Growth

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Large-Cap

Growth

Fund returned

22.93%

for

the

Institutional

Class,

compared

with

the

18.95% return

of

its

benchmark,

the

Russell

1000®

Growth

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Portfolio

Managers’

Comments

(continued)

10

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Information

technology

propelled

the

benchmark

higher

Seven

of

the

eleven

industry

sectors

in

the

Russell

1000

Growth

Index

posted

gains

for

the

twelve

months.

Information

technology—the

largest

sector,

representing

more

than

40.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023—advanced

35.1%

and

contributed

almost

three-quarters

of

the

index’s

return

for

the

period.

Communication

services

and

consumer

discretionary

gained

35.1%

and

12.6%,

respectively,

and

were

the

next-largest

contributors.

Together,

these

three

sectors

represented

nearly

65.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Utilities

and

real

estate,

which

are

sensitive

to

rising

interest

rates,

were

the

worst-performing

sectors,

returning

−13.2%

and

−5.8%,

respectively.

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

Russell

1000

Growth

Index

delivered

returns

that

exceeded

the

overall

return

of

the

index.

Technology

company

NVIDIA

led

the

way,

surging

on

robust

demand

for

its

semiconductors

that

perform

complex

artificial

intelligence

tasks.

Next

in

line

was

Microsoft,

followed

by

Alphabet

(the

parent

company

of

Google)

and

Amazon.com.

Apple

posted

a

double-digit

gain

but

lagged

the

index

as

weakness

in

iPhone

sales

tempered

strength

in

the

company’s

services

business.

Fund

surpassed

its

benchmark

The

Fund

outperformed

its

benchmark

on

the

strength

of

numerous

stock

selections.

The

top

contributor

was

an

overweight

position

in

Meta

Platforms

(Facebook),

which

announced

record

quarterly

revenue

as

spending

on

digital

advertising

rebounded.

The

next-largest

contributors

were

overweight

positions

in

online

travel

search

engine

Booking

Holdings

and

ride-

hailing

company

Uber

Technologies.

Conversely,

the

largest

detractor

was

an

overweight

position

in

payment

processing

firm

PayPal

Holdings,

which

experienced

margin

pressure

as

lower-margin

areas

of

its

business

drove

revenue

growth.

A

lack

of

exposure

to

pharmaceutical

maker

Eli

Lilly

and

an

overweight

position

in

cosmetics

company

Estee

Lauder

also

hurt

relative

performance.

Large-Cap

Value

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Large-Cap

Value

Fund returned

3.41%

for

the

Institutional

Class,

compared

with

the

0.13% return

of

its

benchmark,

the

Russell

1000®

Value

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

11

Portfolio

Managers’

Comments

Gains

in

a

number

of

sectors

offset

losses

in

others

Four

of

the

eleven

industry

sectors

in

the

Russell

1000

Value

Index

posted

gains

for

the

twelve

months.

Communication

services

performed

best,

soaring

30.2%

and

making

the

largest

contribution

to

the

benchmark’s

return.

Information

technology,

industrials

and

materials

were

the

other

positive

performers,

gaining

11.9%,

6.6%

and

5.7%,

respectively.

Together,

these

four

sectors

accounted

for

almost

one-third

of

the

index’s

total

market

capitalization

on

October

31,

2023.

Health

care,

which

returned

−10.1%,

was

the

worst-performing

sector,

followed

by

real

estate

and

utilities,

which

returned

−8.1%

and

−8.0%,

respectively.

Financials—the

benchmark’s

largest

sector—was

more

resilient

but

still

weak

with

a

−3.4%

return,

pressured

by

concerns

about

banks’

long-term

profitability.

For

the

twelve-month

period,

three

of

the

five

largest

stocks

in

the

Russell

1000

Value

Index

produced

returns

that

exceeded

the

overall

return

of

the

index.

These

stocks

were

Berkshire

Hathaway,

Procter

&

Gamble

and

JPMorgan

Chase,

all

of

which

posted

double-digit

gains.

Berkshire

Hathaway

reported

improving

results

in

its

Geico

insurance

unit,

Procter

&

Gamble

benefited

from

price

increases

across

its

brand

portfolio,

and

JPMorgan

Chase

announced

four

quarters

of

better-than-

expected

earnings.

Johnson

&

Johnson

declined,

in

part

due

to

uncertainty

surrounding

product-liability

litigation.

Exxon

Mobil

also

posted

a

loss.

Fund

surpassed

its

benchmark

The

Fund

outperformed

its

benchmark

due

to

several

favorable

stock

allocations.

The

top

contributor

was

an

out-of-benchmark

position

in

Microsoft,

which

reported

strong

results

in

its

cloud-computing

division.

The

next-largest

contributors

were

overweight

positions

in

software

company

Oracle,

which

showed

progress

on

transitioning

its

legacy

business

to

a

cloud

model,

and

Applied

Materials,

a

semiconductor

manufacturing

equipment

supplier

that

gained

market

share.

In

contrast,

the

largest

detractor

was

an

overweight

position

in

insurance

provider

Elevance

Health,

which

was

hurt

by

concerns

about

heightened

government

oversight

of

the

health

insurance

industry.

A

lack

of

exposure

to

General

Electric

and

an

overweight

position

in

Bank

of

America

also

detracted.

Mid-Cap

Growth

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Mid-Cap

Growth

Fund returned

0.52%

for

the

Institutional

Class,

compared

with

the

3.35% return

of

its

benchmark,

the

Russell

Midcap®

Growth

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Gains

in

several

sectors

offset

losses

in

others

Four

of

the

eleven

industry

sectors

in

the

Russell

Midcap

Growth

Index

posted

gains

for

the

twelve

months.

Information

technology—the

benchmark’s

largest

sector—performed

best,

returning

13.1%

and

was

the

biggest

contributor

to

the

index’s

return.

Industrials,

consumer

discretionary

and

financials

were

the

other

positive

performers,

gaining

11.8%,

9.6%

and

1.1%,

respectively.

Together,

these

four

sectors

accounted

for

almost

two-thirds

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Utilities,

health

care

and

materials

were

the

worst

performers,

returning

−13.2%,

−11.1%

and

−10.6%,

respectively.

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

Russell

Midcap

Growth

Index

generated

returns

that

exceeded

the

overall

return

of

the

index.

Leading

the

way

were

online

vehicle

auctioneer

Copart,

asset

management

service

provider

Apollo

Global

Management

and

corporate

uniform

manufacturer

Cintas

with

each

delivering

a

double-digit

gain.

Next

came

cybersecurity

firm

CrowdStrike

Holdings.

Cheniere

Energy

posted

a

loss

and

trailed

the

index.

Portfolio

Managers’

Comments

(continued)

12

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark,

as

certain

stock

allocations

did

not

perform

as

expected.

The

largest

detractor

was

an

out-of-benchmark

position

in

automobile

service

provider

Driven

Brands

Holdings,

which

fell

sharply

following

a

lower-

than-expected

earnings

report.

The

next-largest

detractors

were

out-of-benchmark

positions

in

rental

car

agency

Hertz

Global

Holdings

and

travel

technology

company

Sabre.

By

contrast,

the

largest

contributor

to

relative

performance

was

an

out-of-benchmark

position

in

print

and

advertising

firm

Cimpress,

which

issued

a

better-than

expected

earnings

outlook.

A

lack

of

exposure

to

Enphase

Energy,

which

fell

sharply

for

the

twelve

months,

and

an

overweight

position

in

technology

company

Synopsys

also

benefited

the

Fund’s

relative

return.

Mid-Cap

Value

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Mid-Cap

Value

Fund returned

-4.86%

for

the

Institutional

Class,

compared

with

the

-3.56% return

of

its

benchmark,

the

Russell

Midcap®

Value

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Nine

of

the

eleven

industry

sectors

in

the

Russell

Midcap

Value

Index

posted

losses

for

the

twelve

months.

The

worst

performers

were

consumer

staples

and

health

care,

which

returned

−12.9%

and

−9.7%,

respectively.

Financials—the

index’s

largest

sector—returned

−8.8%

and

was

the

largest

detractor

from

the

index’s

return.

Real

estate,

which

returned

−8.8%,

was

also

a

notable

detractor.

Together,

these

four

sectors

represented

nearly

40.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

On

the

plus

side,

industrials—the

benchmark’s

second-largest

sector—performed

best,

gaining

8.8%.

Energy,

up

3.3%,

was

the

only

other

positive

performer.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

Midcap

Value

Index

registered

double-digit

gains

that

easily

surpassed

the

overall

return

of

the

index.

Industrial

and

construction

machinery

manufacturers

PACCAR

and

Parker-

Hannifan

led

the

way,

both

aided

by

better-than-expected

earnings

reports.

Next

came

insurance

broker

Arthur

J.

Gallagher,

insurer

Aflac

and

energy

refiner

Phillips

66.

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark

primarily

due

to

stock

selections

that

did

not

perform

as

anticipated.

The

largest

detractors

included

overweight

positions

in

Signature

Bank,

household

and

personal

products

maker

Newell

Brands

and

real

estate

investment

trust

Medical

Properties

Trust.

Conversely,

the

largest

contributor

was

an

out-of-benchmark

position

in

energy

exploration

and

production

company

Permian

Resources,

which

benefited

from

improving

profitability

and

growth

prospects.

Overweight

holdings

in

personal

products

manufacturer

Spectrum

Brands

Holdings

and

medical

distribution

company

Cardinal

Health

also

helped

the

Fund’s

relative

return.

Quant

Small-Cap

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Quant

Small-Cap

Equity

Fund returned

-5.35%

for

the

Institutional

Class,

compared

with

the

-8.56% return

of

its

benchmark,

the

Russell

2000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

13

Portfolio

Managers’

Comments

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Eight

of

the

eleven

industry

sectors

in

the

Russell

2000

Index

posted

losses

for

the

twelve

months.

Health

care

and

financials—the

index’s

largest

sector—were

the

worst

performers

with

returns

of

−21.8%

and

−16.8%,

respectively,

and

detracted

most

from

the

index’s

performance.

Utilities,

communication

services

and

real

estate

also

registered

double-digit

losses,

returning

−16.4%,

−15.4%

and

−10.8%,

respectively.

Together,

these

five

sectors

represented

more

than

40.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Energy,

which

gained

6.3%,

was

the

best-performing

sector.

Consumer

staples

and

industrials

were

the

other

positive

performers,

advancing

0.9%

and

0.3%,

respectively.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

2000

Index

surpassed

the

overall

return

of

the

benchmark.

Technology

firm

Super

Micro

Computer

was

the

clear

winner,

delivering

an

outsized

gain

amid

robust

sales

of

its

dedicated

artificial

intelligence

servers.

Next

came

entertainment

company

Light

&

Wonder

and

Chord

Energy,

which

both

posted

strong—albeit

less

dramatic—gains.

Energy

producers

Matador

Resources

and

Murphy

Oil

registered

losses

but

were

more

resilient

than

the

index.

Fund

surpassed

its

benchmark

The

Fund

posted

a

loss

but

outperformed

its

benchmark

due

to

favorable

stock

allocations,

led

by

an

overweight

position

in

Super

Micro

Computer.

The

next-largest

contributors

to

relative

performance

were

overweight

positions

in

drugstore

makeup

brand

e.l.f.

Beauty,

which

benefited

from

strong

demand

for

value-priced

cosmetics,

and

biotechnology

firm

ImmunoGen,

which

announced

positive

clinical

trial

results

for

a

cancer

treatment.

The

largest

detractor

was

an

overweight

in

communications

equipment

supplier

CommScope

Holding,

which

reported

sluggish

sales

amid

elevated

product

inventories

and

delays

in

network

upgrade

projects.

Next

in

line

were

overweight

positions

in

biotechnology

companies

Mersana

Therapeutics

and

FibroGen.

Quant

Small/Mid-Cap

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Quant

Small/Mid-Cap

Equity

Fund returned

-1.30%

for

the

Institutional

Class,

compared

with

the

-4.63% return

of

its

benchmark,

the

Russell

2500™

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Portfolio

Managers’

Comments

(continued)

14

Losses

in

a

number

of

sectors

offset

gains

in

others

Five

of

the

eleven

industry

sectors

in

the

Russell

2500

Index

posted

losses

for

the

twelve

months.

Health

care

and

financials

were

the

worst

performers

with

returns

of

−19.1%

and

−12.6%,

respectively,

and

detracted

most

from

the

index’s

return.

Utilities,

real

estate

and

communication

services

also

declined,

returning

−11.5%,

−10.1%

and

−9.9%,

respectively.

Together,

these

five

sectors

accounted

for

more

than

40.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Industrials—the

index’s

largest

sector—returned

4.5%

and

was

the

best

performer.

Next

came

information

technology

and

consumer

staples,

which

returned

3.4%

and

1.4%,

respectively.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

2500

Index

produced

gains

and

exceeded

the

overall

return

of

the

benchmark.

Homebuilder

PulteGroup

was

the

clear

leader,

followed

by

exchange

operator

CBOE

Global

Markets,

reinsurance

company

Everest

Group

and

software

firm

PTC,

all

of

which

generated

double-digit

increases.

Financial

data

provider

FactSet

Research

Systems

registered

a

single-digit

gain.

Fund

surpassed

its

benchmark

The

Fund

posted

a

loss

but

outperformed

its

benchmark

on

the

strength

of

numerous

stock

allocations.

The

top

contributor

was

an

overweight

position

in

drugstore

makeup

brand

e.l.f.

Beauty,

which

benefited

from

strong

demand

for

value-priced

cosmetics.

Next

in

line

were

overweight

positions

in

Vertiv

Holdings,

a

provider

of

data-center

equipment,

and

Builders

FirstSource,

a

supplier

of

construction

materials.

Conversely,

the

largest

detractor

was

an

overweight

position

in

grocery

wholesaler

United

Natural

Foods,

which

performed

poorly

amid

declining

profitability.

The

next-largest

detractors

were

overweight

positions

in

insurance

company

Lincoln

National

and

employment

agency

Cross

Country

Healthcare.

Social

Choice

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Social

Choice

Equity

Fund returned

6.42%

for

the

Institutional

Class,

compared

with

the

8.38% return

of

its

benchmark,

the

Russell

3000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Excluding

certain

benchmark

stocks

hurt

the

Fund’s

relative

performance

The

Fund

utilizes

environmental,

social

and

governance

(ESG)

criteria,

while

the

benchmark

does

not.

Because

of

its

ESG

criteria,

the

Fund

did

not

invest

in

a

number

of

stocks

included

in

the

Russell

3000

Index.

Excluding

these

companies

produced

mixed

results

for

the

twelve-month

period,

but

the

net

effect

was

that

the

Fund

underperformed

its

benchmark.

Among

stocks

the

Fund

avoided,

omitting

Meta

Platforms

(Facebook),

Alphabet

(the

parent

company

of

Google)

and

semiconductor

maker

Broadcom—all

of

which

posted

outsized

gains

for

the

twelve

months—detracted

most

from

relative

performance.

Meta

Platforms

and

Alphabet

benefited

from

a

rebound

in

spending

on

digital

advertising,

as

well

investors’

enthusiasm

for

larger

companies

with

strong

balance

sheets.

Broadcom

experienced

increased

demand

for

its

networking

products

used

in

data

centers

amid

growing

investment

in

artificial

intelligence

technologies.

Omitting

other

stocks

helped

relative

performance

The

Fund’s

exclusion

of

other

stocks

helped

its

relative

performance.

Not

owning

Pfizer,

Johnson

&

Johnson

and

Bank

of

America

had

the

largest

positive

impact,

as

all

three

stocks

registered

double-digit

declines.

Slowing

sales

of

Pfizer’s

COVID-19

vaccine

dampened

the

company’s

profits,

while

Johnson

&

Johnson

was

hurt

by

uncertainty

surrounding

product-liability

litigation.

Bank

of

America

reported

significant

unrealized

losses

in

its

large

portfolio

of

fixed-income

securities.

Fund

trailed

its

benchmark

To

compensate

for

the

exclusion

of

some

stocks

within

the

Russell

3000

Index,

the

Fund’s

managers

use

quantitative

(mathematical)

modeling

and

other

techniques

in

an

attempt

to

match

the

overall

investment

characteristics

of

the

portfolio

with

those

of

its

index

and

to

manage

risk.

Of

stocks

the

Fund

held,

the

largest

detractor

was

an

overweight

position

in

ZoomInfo

Technologies,

a

database

provider

that

lowered

its

2023

revenue

forecast

in

response

to

a

pullback

in

corporate

marketing

budgets.

Next

in

line

was

an

underweight

position

in

Amazon.com,

which

gained

alongside

strong

consumer

spending,

followed

by

an

overweight

position

in

PayPal

Holdings,

which

performed

poorly

as

lower-margin

areas

of

its

business

drove

revenue

growth.

Conversely,

the

top

contributor

was

an

overweight

position

in

technology

company

NVIDIA,

which

surged

on

robust

demand

for

its

semiconductors

that

perform

complex

artificial

intelligence

tasks.

The

next-largest

contributors

were

overweight

positions

in

software

firm

Adobe,

which

announced

several

new

artificial

intelligence

tools

and

services,

and

pharmaceutical

manufacturer

Eli

Lilly,

which

reported

strong

sales

of

its

diabetes

drug.

15

Portfolio

Managers’

Comments

Social

Choice

Low

Carbon

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Social

Choice

Low

Carbon

Equity

Fund returned

7.04%

for

the

Institutional

Class,

compared

with

the

8.38% return

of

its

benchmark,

the

Russell

3000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Omitting

certain

index

stocks

detracted

from

the

Fund’s

relative

performance

The

Fund

utilizes

environmental,

social

and

governance

(ESG)

criteria,

while

the

benchmark

does

not.

Because

of

its

ESG

criteria,

the

Fund

did

not

invest

in

a

number

of

stocks

included

in

the

Russell

3000

Index.

Avoiding

these

companies

produced

mixed

results

for

the

twelve-month

period,

but

the

net

effect

was

that

the

Fund

underperformed

its

benchmark.

Among

stocks

the

Fund

excluded,

not

owning

Meta

Platforms

(Facebook),

Alphabet

(the

parent

company

of

Google)

and

semiconductor

maker

Broadcom—all

of

which

delivered

impressive

gains

for

the

twelve

months—detracted

most

from

relative

results.

Meta

Platforms

and

Alphabet

benefited

from

a

rebound

in

spending

on

digital

advertising,

as

well

investors’

enthusiasm

for

larger

companies

with

strong

balance

sheets.

Broadcom

experienced

increased

demand

for

its

networking

products

used

in

data

centers

amid

growing

investment

in

artificial

intelligence

technologies.

Avoiding

other

stocks

aided

relative

performance

Omitting

other

stocks

helped

the

Fund’s

relative

performance.

Excluding

Pfizer,

Johnson

&

Johnson

and

Chevron

had

the

largest

positive

impact,

as

all

three

stocks

posted

double-digit

losses.

Slowing

sales

of

Pfizer’s

COVID-19

vaccine

dampened

the

company’s

profits,

while

Johnson

&

Johnson

was

hurt

by

uncertainty

surrounding

product-liability

litigation.

Chevron

faced

several

headwinds,

including

lower

oil

prices

and

risks

associated

with

a

major

acquisition.

Fund

trailed

its

benchmark

To

compensate

for

the

exclusion

of

some

stocks

within

the

Russell

3000

Index,

the

Fund’s

managers

use

quantitative

(mathematical)

modeling

and

other

techniques

in

an

attempt

to

match

the

overall

investment

characteristics

of

the

portfolio

with

those

of

the

index

and

to

manage

risk.

Among

stocks

in

which

the

Fund

was

invested,

the

largest

detractors

from

relative

performance

were

overweight

positions

in

Fidelity

National

Information

Services,

ZoomInfo

Technologies

and

PayPal

Holdings.

Fidelity

National

Information

Services,

a

supplier

of

data

and

technology

services

to

banks,

took

a

substantial

write-down

on

the

spinoff

of

its

merchant-payment

division.

Database

provider

ZoomInfo

Technologies

lowered

its

2023

sales

forecast

in

response

to

a

pullback

in

corporate

marketing

budgets.

PayPal

Holdings

experienced

margin

pressure

as

lower-margin

areas

of

its

business

drove

revenue

growth.

The

top

contributor

was

an

overweight

position

in

technology

company

NVIDIA,

which

surged

on

robust

demand

for

its

semiconductors

that

perform

complex

artificial

intelligence

tasks.

The

next-largest

contributors

were

overweight

positions

in

Adobe,

a

supplier

of

desktop

publishing

software

that

announced

new

artificial

intelligence

tools

and

services,

and

Synopsys,

a

semiconductor

design

software

firm

that

reported

record

quarterly

revenue

as

chipmakers

invested

in

future

products.

Emerging

Markets

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Emerging

Markets

Equity

Fund returned

13.06%

for

the

Institutional

Class,

compared

with

the

10.80% return

of

its

benchmark,

the

MSCI

Emerging

Markets

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

International

stocks

rose

amid

continued

economic

growth,

higher

rates

Foreign

stocks

in

both

developed-

and

emerging-markets

countries

advanced

for

the

period

as

major

economies

around

the

world

grew.

The

economy

of

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2022

and

in

each

of

the

following

three

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew

throughout

the

period,

despite

the

real

estate

segment

receding.

Global

central

banks

spent

much

of

the

twelve-month

period

tightening

monetary

policy

in

response

to

elevated

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

in

July

2023

to

a

22-year

high

of

5.25%–5.50%,

and

policymakers

indicated

that

further

action

was

possible.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

21

developed-markets

nations

outside

North

America,

gained

14.40%

for

the

period,

outpacing

the

return

of

the

MSCI

Emerging

Markets

Index.

Both

indexes

surpassed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Portfolio

Managers’

Comments

(continued)

16

Most

countries

in

the

benchmark

advanced

Of

the

24

country

components

in

the

MSCI

Emerging

Markets

Index,

most

posted

gains

in

U.S.-dollar

terms

for

the

twelve

months.

Poland

performed

best,

rising

59.5%.

Taiwan,

the

third-largest

index

component,

returned

26.2%.

China,

the

largest

index

component,

returned

21.1%,

while

South

Korea,

the

fourth-largest

index

component,

returned

8.3%.

Together,

these

four

countries

accounted

for

more

than

one-half

of

the

index’s

total

market

capitalization

on

October

31,

2023.

Qatar

was

the

worst

performer

with

a

loss

of

–21.3%.

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

MSCI

Emerging

Markets

Index

had

performance

that

exceeded

the

benchmark’s

overall

return.

Chinese

internet

firm

Tencent

Holdings

posted

a

sizable

double-digit

return.

Taiwan

Semiconductor

Manufacturing,

internet

retailer

Alibaba

Group

Holding

and

Samsung

Electronics

were

next

in

line

with

strong

gains.

Multinational

conglomerate

Reliance

Industries

posted

a

loss,

hurt

by

a

decline

in

oil

prices,

and

trailed

the

index.

Fund

surpassed

its

benchmark

Several

stock

allocations

helped

the

Fund

outperform

its

benchmark.

The

top

contributor

was

an

overweight

position

in

multinational

beverage

and

retail

company

Fomento

Economico

Mexicano

(FEMSA).

Overweights

in

e-commerce

provider

Vipshop

Holdings,

as

well

as

artificial

intelligence

firm

Baidu,

both

of

which

are

based

in

China,

also

benefited

the

Fund’s

relative

return

as

both

companies

performed

well.

By

contrast,

out-of-benchmark

positions

in

Brazilian

e-commerce

company

Americanas,

financial

services

firm

PagSeguro

Digital

and

Singapore

technology

conglomerate

Sea

were

the

largest

detractors

from

the

Fund’s

relative

return.

The

Fund’s

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund’s

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund’s

net

asset

value

(NAV)

is

calculated

(see

the

Fund’s

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund’s

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund’s

portfolio

holdings

at

the

time

the

Fund’s

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

International

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

International

Equity

Fund returned

14.89%

for

the

Institutional

Class,

compared

with

the

14.40% return

of

its

benchmark,

the

MSCI

EAFE®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

International

stocks

rose

amid

continued

economic

growth,

higher

rates

Foreign

stocks

in

both

developed-

and

emerging-markets

countries

advanced

for

the

period

as

major

economies

around

the

world

grew.

The

economy

of

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2022

and

in

each

of

the

following

three

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew

throughout

the

period,

despite

the

real

estate

segment

receding.

Global

central

banks

spent

much

of

the

twelve-month

period

tightening

monetary

policy

in

response

to

elevated

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

in

July

2023

to

a

22-year

high

of

5.25%–5.50%,

and

policymakers

indicated

that

further

action

was

possible.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

The

MSCI

EAFE

Index,

which

measures

stock

performance

in

21

developed-markets

nations

outside

North

America,

outperformed

the

10.80%

advance

of

the

MSCI

Emerging

Markets

Index

for

the

period.

Both

indexes

surpassed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Most

countries

in

the

benchmark

advanced

Most

of

the

countries

in

the

MSCI

EAFE

Index

posted

gains

in

U.S.-dollar

terms

for

the

twelve

months.

The

largest

index

components

were

Japan

(22.9%),

the

United

Kingdom

(15.3%)

and

France

(12.1%),

returning

16.8%,

12.9%

and

18.2%,

respectively.

Collectively,

these

three

nations

represented

more

than

one-half

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Israel

was

the

worst

performer,

returning

–18.0%.

For

the

twelve-month

period,

three

of

the

five

largest

stocks

in

the

MSCI

EAFE

Index

exceeded

the

benchmark’s

overall

return.

Global

health

care

company

Novo

Nordisk

performed

best

with

a

strong

double-digit

gain,

followed

by

Dutch

semiconductor

firm

ASML

Holding

and

Shell.

French

luxury

goods

conglomerate

LVMH

only

slightly

trailed

the

index’s

return

in

U.S.-dollar

terms,

while

Nestlé

posted

a

loss

in

local

currency

terms

and

only

a

small

U.S.

dollar

gain.

17

Portfolio

Managers’

Comments

Fund

surpassed

its

benchmark

Several

stock

allocations

helped

the

Fund

outperform

its

benchmark.

The

top

contributor

was

an

overweight

position

in

health

care

company

Novo

Nordisk.

Overweights

in

Sumitomo

Mitsui

Financial

Group

and

Japanese

multinational

electronics

company

Hitachi

also

benefited

the

Fund’s

relative

return.

All

three

companies

registered

sizable

double-digit

gains.

By

contrast,

an

overweight

position

in

Japan-based

pharmaceutical

giant

Daiichi

Sankyo,

which

struggled

during

the

period,

detracted

most

from

the

Fund’s

relative

return.

Overweights

in

multinational

pharmaceutical

company

Bayer

and

Swiss

life

sciences

company

Lonza

Group

also

hampered

relative

performance.

The

Fund’s

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund’s

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund’s

net

asset

value

(NAV)

is

calculated

(see

the

Fund’s

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund’s

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund’s

portfolio

holdings

at

the

time

the

Fund’s

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

International

Opportunities

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

International

Opportunities

Fund returned

2.69%

for

the

Institutional

Class,

compared

with

the

12.07% return

of

its

benchmark,

the

MSCI

All

Country

World

ex

USA

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

International

stocks

rose

amid

continued

economic

growth,

higher

rates

Foreign

stocks

in

both

developed-

and

emerging-markets

countries

advanced

for

the

period

as

major

economies

around

the

world

grew.

The

economy

of

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2022

and

in

each

of

the

following

three

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew

throughout

the

period,

despite

the

real

estate

segment

receding.

Global

central

banks

spent

much

of

the

twelve-month

period

tightening

monetary

policy

in

response

to

elevated

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

in

July

2023

to

a

22-year

high

of

5.25%–5.50%,

and

policymakers

indicated

that

further

action

was

possible.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

21

developed-markets

nations

outside

North

America,

gained

14.40%

for

the

period,

outpacing

the

10.80%

advance

of

the

MSCI

Emerging

Markets

Index.

Both

indexes

surpassed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Most

countries

in

the

benchmark

advanced

Most

of

the

countries

in

the

MSCI

All

Country

World

ex

USA

Index

posted

gains

in

U.S.-dollar

terms

for

the

twelve

months.

The

largest

country

components

were

Japan

(14.7%),

the

United

Kingdom

(9.8%)

and

China

(8.5%),

which

returned

16.8%,

12.9%

and

21.1%,

respectively.

Collectively,

these

three

nations

represented

one-third

of

the

index’s

total

market

capitalization

on

October

31,

2023.

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

MSCI

All

Country

World

ex

USA

Index

posted

double-

digit

gains

that

exceeded

the

benchmark’s

overall

return.

Global

health

care

company

Novo

Nordisk

led

the

way,

followed

by

Chinese

internet

firm

Tencent

Holdings

and

Taiwan

Semiconductor

Manufacturing.

Next

came

Dutch

semiconductor

firm

ASML

Holding.

Nestlé

posted

a

loss

in

local

currency

terms

and

only

a

small

U.S.

dollar

gain.

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark,

primarily

due

to

stock

selections

that

did

not

perform

as

anticipated.

The

largest

detractor

was

an

overweight

position

in

digital

business

services

company

Teleperformance,

which

was

hurt

by

investor

concerns

over

the

company’s

quarterly

results.

The

next-largest

detractors

were

overweight

positions

in

Dutch

digital-payments

processor

Adyen

and

Canadian

fertilizer

producer

Nutrien.

By

contrast,

an

overweight

position

in

Novo

Nordisk,

which

had

impressive

gains

following

a

better-than-expected

earnings

report,

contributed

most

to

the

Fund’s

relative

performance.

Overweight

holdings

in

Canadian

uranium

fuel

provider

Cameco

and

Italian

auto

manufacturer

Ferrari

also

benefited

the

Fund’s

relative

return.

The

Fund’s

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund’s

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Portfolio

Managers’

Comments

(continued)

18

Many

foreign

exchanges

close

for

trading

before

the

Fund’s

net

asset

value

(NAV)

is

calculated

(see

the

Fund’s

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund’s

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund’s

portfolio

holdings

at

the

time

the

Fund’s

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

Quant

International

Small-Cap

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Quant

International

Small-Cap

Equity

Fund returned

9.06%

for

the

Institutional

Class,

compared

with

the

8.82% return

of

its

benchmark,

the

MSCI

ACWI

ex

USA

Small

Cap

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

International

stocks

rose

amid

continued

economic

growth,

higher

rates

Foreign

stocks

in

both

developed-

and

emerging-markets

countries

advanced

for

the

period

as

major

economies

around

the

world

grew.

The

economy

of

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2022

and

in

each

of

the

following

three

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew

throughout

the

period,

despite

the

real

estate

segment

receding.

Global

central

banks

spent

much

of

the

twelve-month

period

tightening

monetary

policy

in

response

to

elevated

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

in

July

2023

to

a

22-year

high

of

5.25%–5.50%,

and

policymakers

indicated

that

further

action

was

possible.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

21

developed-markets

nations

outside

North

America,

gained

14.40%

for

the

period,

outpacing

the

10.80%

advance

of

the

MSCI

Emerging

Markets

Index.

Both

indexes

surpassed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Most

countries

in

the

benchmark

advanced

Most

of

the

countries

in

the

MSCI

ACWI

ex

USA

Small

Cap

Index

posted

gains

in

U.S.-dollar

terms

for

the

twelve

months.

The

largest

country

components

were

Japan

(21.7%),

the

United

Kingdom

(9.3%)

and

India

(8.0%),

which

returned

13.3%,

5.2%

and

22.1%,

respectively.

Together,

these

three

nations

made

up

almost

40.0%

of

the

index’s

total

market

capitalization

on

October

31,

2023.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

MSCI

ACWI

ex

USA

Small

Cap

Index

posted

strong

gains

in

U.S.-dollar

terms

and

exceeded

the

overall

return

of

the

benchmark.

The

top

performers

were

Italian

aerospace

company

Leonardo,

which

was

chosen

to

help

build

a

next-generation

jet

fighter,

and

Luxembourg-based

store

chain

B&M

European

Value

Retail,

which

expanded

its

presence

in

the

United

Kingdom.

Next

came

financial

services

firms

Banco

BPM

and

Banco

de

Sabadell,

followed

by

Australian

online

auto

marketplace

CAR

Group.

Fund

surpassed

its

benchmark

Several

stock

allocations

helped

the

Fund

outperform

its

benchmark.

The

top

contributor

was

an

overweight

position

in

Taiwanese

technology

firm

Asia

Vital

Components,

which

announced

plans

to

expand

production

capacity

to

meet

growing

U.S.

demand.

Next

in

line

were

overweight

positions

in

Japan-based

Kobe

Steel

and

Canadian

electronics

company

Celestica.

Conversely,

the

largest

detractor

was

a

lack

of

exposure

to

South

Korean

battery

materials

producer

EcoPro,

followed

by

overweight

positions

in

Japanese

drug

manufacturer

Sumitomo

Pharma

and

South

African

retailer

Pick

n

Pay

Stores.

The

Fund’s

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund’s

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund’s

net

asset

value

(NAV)

is

calculated

(see

the

Fund’s

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund’s

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund’s

portfolio

holdings

at

the

time

the

Fund’s

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

19

Portfolio

Managers’

Comments

Social

Choice

International

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Social

Choice

International

Equity

Fund returned

15.85%

for

the

Institutional

Class,

compared

with

the

14.40% return

of

its

benchmark,

the

MSCI

EAFE®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Avoiding

certain

stocks

helped

the

Fund’s

relative

performance

The

Fund

utilizes

environmental,

social

and

governance

(ESG)

criteria,

while

the

benchmark

does

not.

Because

of

its

ESG

criteria,

the

Fund

excluded

certain

stocks

in

the

MSCI

EAFE

Index.

Excluding

these

companies

produced

mixed

results

during

the

twelve-month

period,

but

the

net

effect

was

that

the

Fund

outperformed

its

benchmark.

Of

the

stocks

the

Fund

excluded,

not

owning

British

American

Tobacco,

Adyen

and

Diageo—three

stocks

that

posted

losses

for

the

twelve

months—contributed

most

to

relative

performance.

British

American

Tobacco

was

hurt

by

declining

sales

volumes

in

its

legacy

cigarette

business.

Dutch

digital-payments

processor

Adyen

faced

heightened

competition

and

rising

employment

costs.

British

beverage

maker

Diageo

reported

slower

growth

in

North

America,

its

largest

market.

Excluding

other

index

stocks

hindered

relative

performance

Omitting

Mitsubishi

UFJ

Financial,

Sumitomo

Mitsui

Financial

and

UniCredit

detracted

most

from

relative

returns,

as

all

three

stocks

posted

outsized

gains.

Japanese

banks

Mitsubishi

UFJ

Financial

and

Sumitomo

Mitsui

Financial

benefited

from

expectations

that

Japanese

monetary

authorities

would

soon

end

their

negative

interest-rate

policy.

Italian

financial

services

firm

UniCredit

reported

its

highest

annual

profit

in

over

a

decade.

Fund

surpassed

its

benchmark

To

compensate

for

the

exclusion

of

some

stocks

within

the

MSCI

EAFE

Index,

the

Fund’s

managers

use

quantitative

(mathematical)

modeling

and

other

techniques

in

an

attempt

to

match

the

overall

investment

characteristics

of

the

portfolio

with

those

of

its

index

and

to

manage

risk.

Among

stocks

the

Fund

held,

the

top

contributor

was

an

underweight

position

in

Swiss

pharmaceutical

firm

Roche

Holding,

which

experienced

a

slowdown

in

sales

of

its

COVID-19

products.

The

next-largest

contributors

were

an

overweight

position

in

Shell,

which

gained

alongside

strategic

changes

announced

by

a

new

chief

executive

officer,

and

an

underweight

position

in

Japanese

industrial

equipment

maker

Keyence,

which

was

hurt

by

sluggish

capital

spending

in

Asia.

In

contrast,

the

largest

detractor

was

an

underweight

position

in

Toyota

Motor,

which

reported

strong

profit

growth.

Next

in

line

were

overweight

positions

in

Swiss

life

sciences

company

Lonza

Group,

which

cut

its

2024

margin

forecast,

and

Danish

biotechnology

firm

Genmab,

which

announced

disappointing

results

from

a

late-stage

clinical

trial

of

a

cancer

treatment.

The

Fund’s

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund’s

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund’s

net

asset

value

(NAV)

is

calculated

(see

the

Fund’s

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund’s

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund’s

portfolio

holdings

at

the

time

the

Fund’s

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

Growth

&

Income

Fund

20

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Growth

&

Income

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

7/1/99

15

.18

%

10

.43

%

10

.63

%

0

.41

%

0

.41

%

Advisor

Class

12/4/15

14

.97

10

.31

10

.55

†

0

.50

0

.50

Premier

Class

9/30/09

14

.96

10

.25

10

.47

0

.55

0

.55

Retirement

Class

10/1/02

14

.85

10

.15

10

.36

0

.66

0

.66

Retail

Class

3/31/06

14

.85

10

.12

10

.31

0

.69

0

.69

Class

W

9/28/18

15

.58

10

.86

10

.85

†

0

.41

0

.00

S&P

500®

Index

–

10

.14

11

.01

11

.18

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

21

Growth

&

Income

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

5.18

billion

Portfolio

turnover

rate

108%

Number

of

holdings

55

Weighted

median

market

capitalization

$260.64

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

20.8

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

29.1

Financials

17.3

Health

care

15.1

Consumer

discretionary

9.9

Communication

services

7.5

Industrials

7.2

Energy

5.5

Utilities

3.1

Materials

2.2

Real

estate

1.9

Consumer

staples

0.6

Short-term

investments

0.4

Other

assets

&

liabilities,

net

0.2

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

74.9

More

than

$15

billion-$50

billion

21.4

More

than

$2

billion-$15

billion

3.7

Total

100.0

Large-Cap

Growth

Fund

22

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Large-Cap

Growth

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

3/31/06

22

.93

%

11

.53

%

12

.58

%

0

.41

%

0

.41

%

Advisor

Class

12/4/15

22

.85

11

.45

12

.52

†

0

.48

0

.48

Premier

Class

9/30/09

22

.69

11

.36

12

.41

0

.56

0

.56

Retirement

Class

3/31/06

22

.61

11

.25

12

.29

0

.66

0

.66

Retail

Class

3/31/06

22

.60

11

.22

12

.25

0

.71

0

.71

Class

W

9/28/18

23

.44

11

.98

12

.82

†

0

.41

0

.00

Russell

1000®

Growth

Index

–

18

.95

14

.22

13

.82

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

23

Large-Cap

Growth

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

5.12

billion

Portfolio

turnover

rate

44%

Number

of

holdings

66

Weighted

median

market

capitalization

$475.75

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

36.2

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

37.3

Consumer

discretionary

19.0

Communication

services

11.9

Health

care

10.7

Industrials

7.4

Consumer

staples

5.4

Financials

5.4

Energy

1.4

Materials

1.3

Short-term

investments

0.2

Other

assets

&

liabilities,

net

0.0

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

88.7

More

than

$15

billion-$50

billion

9.0

More

than

$2

billion-$15

billion

2.3

Total

100.0

Large-Cap

Value

Fund

24

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Large-Cap

Value

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

3

.41

%

7

.69

%

7

.18

%

0

.41

%

0

.41

%

Advisor

Class

12/4/15

3

.29

7

.61

7

.13

†

0

.49

0

.49

Premier

Class

9/30/09

3

.20

7

.52

7

.01

0

.56

0

.56

Retirement

Class

10/1/02

3

.11

7

.42

6

.91

0

.66

0

.66

Retail

Class

10/1/02

3

.06

7

.37

6

.85

0

.72

0

.72

Class

W

9/28/18

3

.79

8

.12

7

.40

†

0

.41

0

.00

Russell

1000®

Value

Index

–

0

.13

6

.60

7

.60

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

25

Large-Cap

Value

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

4.51

billion

Portfolio

turnover

rate

23%

Number

of

holdings

88

Weighted

median

market

capitalization

$119.34

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

15.5

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Financials

23.1

Health

care

16.1

Industrials

13.5

Information

technology

11.5

Energy

9.4

Consumer

staples

6.5

Materials

5.2

Communication

services

4.8

Consumer

discretionary

4.4

Utilities

3.2

Real

estate

1.2

Short-term

investments

0.7

Other

assets

&

liabilities,

net

0.4

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

80.5

More

than

$15

billion-$50

billion

16.5

More

than

$2

billion-$15

billion

3.0

Total

100.0

Mid-Cap

Growth

Fund

26

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Mid-Cap

Growth

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

0.52%

4.66%

6.07%

0.48%

0.48%

Advisor

Class

12/4/15

0.43

4.58

6.01

†

0.56

0.56

Premier

Class

9/30/09

0.35

4.49

5.90

0.63

0.63

Retirement

Class

10/1/02

0.25

4.40

5.80

0.73

0.73

Retail

Class

10/1/02

0.17

4.35

5.75

0.78

0.78

Russell

Midcap®

Growth

Index

–

3.35

8.09

9.09

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

27

Mid-Cap

Growth

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

900.45

million

Portfolio

turnover

rate

38%

Number

of

holdings

90

Weighted

median

market

capitalization

$20.64

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

20.2

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

23.6

Industrials

21.1

Health

care

16.4

Consumer

discretionary

16.1

Financials

9.0

Energy

4.6

Communication

services

3.2

Consumer

staples

2.7

Materials

2.1

Short-term

investments

0.2

Investments

purchased

with

collateral

from

securities

lending

3.4

Other

assets

&

liabilities,

net

-2.4

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

4.3

More

than

$15

billion-$50

billion

54.8

More

than

$2

billion-$15

billion

31.1

$2

billion

or

less

9.8

Total

100.0

Mid-Cap

Value

Fund

28

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Mid-Cap

Value

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

-

4

.86

%

4

.51

%

5

.64

%

0

.45

%

0

.45

%

Advisor

Class

12/4/15

-

4

.96

4

.40

5

.56

†

0

.54

0

.54

Premier

Class

9/30/09

-

4

.98

4

.35

5

.48

0

.60

0

.60

Retirement

Class

10/1/02

-

5

.08

4

.25

5

.38

0

.70

0

.70

Retail

Class

10/1/02

-

5

.12

4

.21

5

.33

0

.76

0

.76

Russell

Midcap®

Value

Index

–

-

3

.56

5

.69

6

.89

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

29

Mid-Cap

Value

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

1.51

billion

Portfolio

turnover

rate

78%

Number

of

holdings

78

Weighted

median

market

capitalization

$18.18

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

17.2

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Industrials

23.9

Financials

21.5

Health

care

9.2

Information

technology

9.2

Utilities

8.7

Energy

7.5

Consumer

discretionary

6.9

Real

estate

6.2

Consumer

staples

3.6

Materials

1.7

Communication

services

0.9

Short-term

investments

0.5

Investments

purchased

with

collateral

from

securities

lending

0.2

Other

assets

&

liabilities,

net

0.0

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

10.4

More

than

$15

billion-$50

billion

46.9

More

than

$2

billion-$15

billion

42.7

Total

100.0

Quant

Small-Cap

Equity

Fund

30

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Quant

Small-Cap

Equity

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

-5.35%

5.33%

7.01%

0.42%

0.42%

Advisor

Class

12/4/15

-5.41

5.25

6.95

†

0.50

0.50

Premier

Class

9/30/09

-5.49

5.19

6.85

0.57

0.57

Retirement

Class

10/1/02

-5.58

5.07

6.74

0.67

0.67

Retail

Class

10/1/02

-5.63

5.04

6.70

0.72

0.72

Class

W

9/28/18

-4.91

5.78

7.24

†

0.42

0.00

Russell

2000®

Index

–

-8.56

3.31

5.63

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

31

Quant

Small-Cap

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

2.41

billion

Portfolio

turnover

rate

75%

Number

of

holdings

387

Weighted

median

market

capitalization

$2.39

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

24.4

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Industrials

17.9

Financials

15.5

Health

care

13.3

Information

technology

13.0

Energy

9.5

Consumer

discretionary

8.9

Real

estate

6.1

Consumer

staples

4.2

Materials

3.7

Communication

services

3.4

Utilities

2.8

Short-term

investments

1.6

Investments

purchased

with

collateral

from

securities

lending

0.7

Other

assets

&

liabilities,

net

-0.6

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

0.2

More

than

$2

billion-$15

billion

61.6

$2

billion

or

less

38.2

Total

100.0

Quant

Small/Mid-Cap

Equity

Fund

32

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

5,

2016)

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Quant

Small/Mid-Cap

Equity

Fund

Inception

date

1

year

5

years

since

inception

gross

net

Institutional

Class

8/5/16

-

1

.30

%

8

.71

%

10

.03

%

0

.48

%

0

.48

%

Advisor

Class

8/5/16

-

1

.48

8

.61

9

.96

0

.60

0

.60

Premier

Class

8/5/16

-

1

.51

8

.53

9

.85

0

.64

0

.64

Retirement

Class

8/5/16

-

1

.57

8

.44

9

.75

0

.73

0

.73

Retail

Class

8/5/16

-

1

.63

8

.31

9

.63

0

.81

0

.81

Class

W

9/28/18

-

0

.93

9

.22

10

.39

†

0

.48

0

.00

Russell

2500™

Index

–

-

4

.63

5

.48

6

.89

§

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

Class

W

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

Class

W

shown

for

these

periods

would

have

been

different

because

Class

W

has

different

expenses

than

the

Institutional

Class.

§

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

33

Quant

Small/Mid-Cap

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

1.01

billion

Portfolio

turnover

rate

86%

Number

of

holdings

362

Weighted

median

market

capitalization

$4.51

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

22.5

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Industrials

22.7

Financials

17.1

Information

technology

13.3

Health

care

10.6

Consumer

discretionary

9.8

Real

estate

7.3

Energy

6.4

Materials

4.2

Consumer

staples

3.9

Communication

services

2.2

Utilities

2.2

Short-term

investments

0.1

Investments

purchased

with

collateral

from

securities

lending

0.3

Other

assets

&

liabilities,

net

-0.1

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

0.4

More

than

$15

billion-$50

billion

3.8

More

than

$2

billion-$15

billion

76.8

$2

billion

or

less

19.0

Total

100.0

Social

Choice

Equity

Fund

34

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Social

Choice

Equity

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

7/1/99

6

.42

%

10

.20

%

9

.92

%

0

.18

%

0

.18

%

Advisor

Class

12/4/15

6

.33

10

.12

9

.87

†

0

.27

0

.27

Premier

Class

9/30/09

6

.22

10

.01

9

.75

0

.37

0

.37

Retirement

Class

10/1/02

6

.14

9

.92

9

.65

0

.43

0

.43

Retail

Class

3/31/06

6

.12

9

.90

9

.63

0

.46

0

.46

Russell

3000®

Index

–

8

.38

10

.23

10

.52

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

35

Social

Choice

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

5.43

billion

Portfolio

turnover

rate

15%

Number

of

holdings

472

Weighted

median

market

capitalization

$105.39

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

25.1

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

26.8

Financials

13.4

Health

care

13.0

Industrials

11.4

Consumer

discretionary

11.4

Consumer

staples

6.0

Energy

5.1

Communication

services

4.9

Materials

3.0

Real

estate

2.5

Utilities

2.2

Short-term

investments

0.2

Investments

purchased

with

collateral

from

securities

lending

0.2

Other

assets

&

liabilities,

net

-0.1

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

69.1

More

than

$15

billion-$50

billion

21.5

More

than

$2

billion-$15

billion

7.6

$2

billion

or

less

1.8

Total

100.0

Social

Choice

Low

Carbon

Equity

Fund

36

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

7,

2015)

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Social

Choice

Low

Carbon

Equity

Fund

Inception

date

1

year

5

years

since

inception

gross

net

Institutional

Class

8/7/15

7

.04

%

10

.59

%

10

.28

%

0

.31

%

0

.31

%

Advisor

Class

12/4/15

6

.92

10

.45

10

.18

†

0

.42

0

.42

Premier

Class

8/7/15

6

.88

10

.42

10

.12

0

.46

0

.46

Retirement

Class

8/7/15

6

.77

10

.31

10

.00

0

.56

0

.56

Retail

Class

8/7/15

6

.72

10

.25

9

.93

0

.60

0

.60

Russell

3000®

Index

–

8

.38

10

.23

10

.27

§

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

§

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

37

Social

Choice

Low

Carbon

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

1.11

billion

Portfolio

turnover

rate

26%

Number

of

holdings

389

Weighted

median

market

capitalization

$97.94

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

27.2

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

27.5

Financials

14.2

Health

care

13.3

Industrials

11.7

Consumer

discretionary

11.1

Consumer

staples

7.2

Communication

services

4.7

Real

estate

3.0

Energy

2.9

Materials

2.3

Utilities

1.4

Short-term

investments

0.6

Investments

purchased

with

collateral

from

securities

lending

0.1

Other

assets

&

liabilities,

net

0.0

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

66.4

More

than

$15

billion-$50

billion

23.3

More

than

$2

billion-$15

billion

8.4

$2

billion

or

less

1.9

Total

100.0

Emerging

Markets

Equity

Fund

38

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Emerging

Markets

Equity

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

8/31/10

13

.06

%

0

.90

%

0

.23

%

0

.90

%

0

.90

%

Advisor

Class

12/4/15

13

.03

0

.84

0

.18

†

0

.98

0

.98

Premier

Class

8/31/10

13

.02

0

.80

0

.10

1

.05

1

.05

Retirement

Class

8/31/10

13

.10

0

.80

0

.06

1

.15

1

.15

Retail

Class

8/31/10

12

.73

0

.53

-

0

.15

1

.30

1

.30

Class

W

9/28/18

14

.20

1

.79

0

.68

†

0

.90

0

.00

MSCI

Emerging

Markets

Index

–

10

.80

1

.59

1

.19

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

39

Emerging

Markets

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2023

Net

assets

$

1.54

billion

Portfolio

turnover

rate

67%

Number

of

holdings

67

Weighted

median

market

capitalization

$41.32

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

21.4

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Consumer

discretionary

20.3

Information

technology

20.0

Financials

15.5

Communication

services

10.0

Energy

9.7

Consumer

staples

7.6

Materials

3.0

Industrials

3.0

Health

care

1.9

Short-term

investments

8.7

Investments

purchased

with

collateral

from

securities

lending

0.1

Other

assets

&

liabilities,

net

0.2

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

46.9

More

than

$15

billion-$50

billion

25.1

More

than

$2

billion-$15

billion

14.5

$2

billion

or

less

13.5

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

China

21.1

India

17.5

Taiwan

10.4

Brazil

9.2

Korea,

Republic

of

8.4

Mexico

4.9

Uruguay

4.0

Saudi

Arabia

3.1

Singapore

3.0

Indonesia

2.8

7

other

nations

6.8

Short-term

investments

8.7

Investments

purchased

with

collateral

from

securities

lending

0.1

Total

100.0

International

Equity

Fund

40

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

International

Equity

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

7/1/99

14

.89

%

4

.35

%

2

.76

%

0

.46

%

0

.46

%

Advisor

Class

12/4/15

14

.81

4

.23

2

.69

†

0

.57

0

.57

Premier

Class

9/30/09

14

.75

4

.19

2

.62

0

.61

0

.61

Retirement

Class

10/1/02

14

.64

4

.10

2

.52

0

.71

0

.71

Retail

Class

3/31/06

14

.60

4

.00

2

.44

0

.80

0

.80

Class

W

9/28/18

15

.36

4

.83

3

.01

†

0

.46

0

.00

MSCI

EAFE®

Index

–

14

.40

4

.10

3

.05

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

41

International

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2023

Net

assets

$

6.14

billion

Portfolio

turnover

rate

19%

Number

of

holdings

69

Weighted

median

market

capitalization

$80.32

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

12.8

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Financials

18.7

Health

care

17.8

Industrials

14.1

Consumer

discretionary

10.5

Energy

9.8

Materials

9.4

Consumer

staples

7.8

Information

technology

4.8

Communication

services

2.7

Utilities

2.0

Short-term

investments

1.5

Other

assets

&

liabilities,

net

0.9

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

70.2

More

than

$15

billion-$50

billion

24.3

More

than

$2

billion-$15

billion

5.5

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

Japan

21.1

France

12.2

Netherlands

10.0

United

Kingdom

9.5

Germany

6.8

Australia

6.3

Denmark

6.0

Switzerland

5.2

United

States

5.1

Ireland

2.1

12

other

nations

14.1

Short-term

investments

1.6

Total

100.0

International

Opportunities

Fund

42

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

International

Opportunities

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

4/12/13

2

.69

%

4

.26

%

3

.64

%

0

.61

%

0

.61

%

Advisor

Class

12/4/15

2

.60

4

.17

3

.57

†

0

.71

0

.71

Premier

Class

4/12/13

2

.60

4

.14

3

.50

0

.76

0

.76

Retirement

Class

4/12/13

2

.53

4

.13

3

.43

0

.86

0

.86

Retail

Class

4/12/13

2

.41

3

.86

3

.23

0

.99

0

.99

Class

W

9/28/18

3

.36

4

.90

3

.96

†

0

.61

0

.00

MSCI

All

Country

World

ex

USA

Index

–

12

.07

3

.46

2

.54

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

43

International

Opportunities

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2023

Net

assets

$

2.19

billion

Portfolio

turnover

rate

18%

Number

of

holdings

95

Weighted

median

market

capitalization

$30.91

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

21.9

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Consumer

discretionary

20.8

Information

technology

14.4

Financials

12.7

Consumer

staples

10.7

Health

care

10.5

Industrials

8.8

Energy

8.5

Materials

7.3

Communication

services

2.0

Real

estate

0.7

Short-term

investments

2.6

Investments

purchased

with

collateral

from

securities

lending

0.4

Other

assets

&

liabilities,

net

0.6

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

32.5

More

than

$15

billion-$50

billion

39.2

More

than

$2

billion-$15

billion

26.2

$2

billion

or

less

2.1

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

Canada

13.2

Japan

11.4

United

Kingdom

8.2

Italy

5.6

United

States

5.5

Germany

5.3

France

5.3

Netherlands

5.3

Denmark

4.9

Brazil

4.8

13

other

nations

27.5

Short-term

investments

2.6

Investments

purchased

with

collateral

from

securities

lending

0.4

Total

100.0

Quant

International

Small-Cap

Equity

Fund

44

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

December

9,

2016)

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Quant

International

Small-Cap

Equity

Fund

Inception

date

1

year

5

years

since

inception

gross

net

Institutional

Class

12/9/16

9

.06

%

1

.90

%

2

.64

%

0

.72

%

0

.72

%

Advisor

Class

12/9/16

9

.05

1

.85

2

.59

0

.80

0

.80

Premier

Class

12/9/16

8

.85

1

.71

2

.50

0

.90

0

.90

Retirement

Class

12/9/16

8

.86

1

.68

2

.42

0

.97

0

.97

Retail

Class

12/9/16

8

.58

1

.47

2

.22

1

.40

1

.10

Class

W

9/28/18

9

.91

2

.62

3

.17

†

0

.72

0

.00

MSCI

ACWI

ex

USA

Small

Cap

Index

–

8

.82

3

.51

4

.54

§

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

Class

W

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

Class

W

shown

for

these

periods

would

have

been

different

because

Class

W

has

different

expenses

than

the

Institutional

Class.

§

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

45

Quant

International

Small-Cap

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2023

Net

assets

$

1.07

billion

Portfolio

turnover

rate

114%

Number

of

holdings

606

Weighted

median

market

capitalization

$1.74

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

11.5

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Industrials

26.3

Information

technology

18.4

Materials

11.7

Consumer

discretionary

11.2

Financials

10.9

Consumer

staples

6.1

Health

care

5.4

Energy

4.8

Utilities

2.7

Communication

services

1.1

Real

estate

1.0

Investments

purchased

with

collateral

from

securities

lending

0.2

Other

assets

&

liabilities,

net

0.2

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

0.3

More

than

$2

billion-$15

billion

43.8

$2

billion

or

less

55.9

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

Japan

22.3

United

Kingdom

9.6

India

8.6

Australia

7.1

Taiwan

7.1

Canada

5.4

Korea,

Republic

of

4.5

Germany

3.4

Sweden

3.3

China

3.0

37

other

nations

25.5

Investments

purchased

with

collateral

from

securities

lending

0.2

Total

100.0

Social

Choice

International

Equity

Fund

46

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

7,

2015)

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Social

Choice

International

Equity

Fund

Inception

date

1

year

5

years

since

inception

gross

net

Institutional

Class

8/7/15

15

.85

%

5

.02

%

3

.86

%

0

.37

%

0

.37

%

Advisor

Class

12/4/15

15

.69

4

.91

3

.79

†

0

.48

0

.48

Premier

Class

8/7/15

15

.77

4

.85

3

.70

0

.52

0

.52

Retirement

Class

8/7/15

15

.58

4

.75

3

.61

0

.62

0

.62

Retail

Class

8/7/15

15

.61

4

.71

3

.53

0

.66

0

.66

MSCI

EAFE®

Index

–

14

.40

4

.10

3

.21

§

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

§

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

47

Social

Choice

International

Equity

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2023

Net

assets

$

1.39

billion

Portfolio

turnover

rate

30%

Number

of

holdings

363

Weighted

median

market

capitalization

$37.96

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

13.1

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Financials

19.4

Industrials

13.9

Consumer

discretionary

12.3

Health

care

11.5

Consumer

staples

9.3

Information

technology

7.8

Materials

7.7

Communication

services

5.6

Energy

5.0

Utilities

3.5

Real

estate

2.3

Short-term

investments

1.2

Investments

purchased

with

collateral

from

securities

lending

0.6

Other

assets

&

liabilities,

net

-0.1

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

40.9

More

than

$15

billion-$50

billion

35.3

More

than

$2

billion-$15

billion

23.8

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

Japan

22.7

United

Kingdom

11.7

France

9.6

Germany

8.2

Switzerland

7.3

Australia

6.6

Netherlands

5.0

United

States

4.7

Denmark

3.6

Sweden

3.0

16

other

nations

15.7

Short-term

investments

1.2

Investments

purchased

with

collateral

from

securities

lending

0.7

Total

100.0

Expense

Examples

48

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

examples

that

appear

in

this

report

are

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

do

not

reflect

transactional

costs.

The

examples

are

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

funds

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

reinvested

dividends

or

other

distributions.

The

examples

are

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

six-month

period

and

held

for

the

entire

period

(

May

1,

2023

–

October

31,

2023

).

Actual

expenses

The

first

section

in

each

table

uses

the

Fund’s

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

together

with

the

amount

you

invested,

to

estimate

the

expenses

that

you

paid

over

the

six-month

period.

Simply

divide

your

account

value

by

$1,000

(for

example,

an

$8,600

account

value

divided

by

$1,000

=

8.6),

then

multiply

the

result

by

the

number

in

the

first

line

under

the

heading

“Expenses

incurred

during

the

period”

to

estimate

the

expenses

you

paid

during

the

six-month

period.

Some

funds

have

a

contractual

fee

reimbursement.

Had

these

not

been

in

effect,

fund

expenses

would

have

been

higher.

Hypothetical

example

for

comparison

purposes

The

second

section

in

each

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund’s

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class’

actual

return.

This

hypothetical

example

cannot

be

used

to

estimate

the

actual

expenses

you

paid

for

the

period,

but

rather

allows

you

to

compare

the

ongoing

costs

of

investing

in

the

Fund

with

the

costs

of

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

other

mutual

funds.

2.1

Growth

&

Income

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,048.57

$1,048.07

$1,047.63

$1,047.30

$1,047.07

$1,050.74

Expenses

incurred

during

the

period*

$2.09

$2.58

$2.87

$3.38

$3.58

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.17

$1,022.69

$1,022.40

$1,021.91

$1,021.71

$1,025.19

Expenses

incurred

during

the

period*

$2.06

$2.55

$2.83

$3.33

$3.53

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.40%

for

Institutional

Class,

0.50%

for

Advisor

Class,

0.56%

for

Premier

Class,

0.65%

for

Retirement

Class,

0.69%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

49

2.2

Large-Cap

Growth

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,058.55

$1,058.61

$1,057.53

$1,057.64

$1,057.31

$1,061.16

Expenses

incurred

during

the

period*

$2.13

$2.60

$2.93

$3.42

$3.69

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.14

$1,022.68

$1,022.36

$1,021.88

$1,021.62

$1,025.20

Expenses

incurred

during

the

period*

$2.09

$2.55

$2.88

$3.36

$3.63

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.41%

for

Institutional

Class,

0.50%

for

Advisor

Class,

0.56%

for

Premier

Class,

0.66%

for

Retirement

Class,

0.71%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.3

Large-Cap

Value

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$982.63

$982.10

$981.57

$981.02

$981.05

$984.68

Expenses

incurred

during

the

period*

$2.08

$2.47

$2.83

$3.39

$3.60

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.11

$1,022.71

$1,022.35

$1,021.79

$1,021.57

$1,025.20

Expenses

incurred

during

the

period*

$2.12

$2.52

$2.89

$3.46

$3.67

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.42%

for

Institutional

Class,

0.49%

for

Advisor

Class,

0.57%

for

Premier

Class,

0.68%

for

Retirement

Class,

0.72%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.4

Mid-Cap

Growth

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$935.25

$935.41

$934.44

$934.60

$933.77

Expenses

incurred

during

the

period*

$2.41

$2.84

$3.14

$3.63

$3.92

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.72

$1,022.27

$1,021.96

$1,021.46

$1,021.15

Expenses

incurred

during

the

period*

$2.52

$2.97

$3.28

$3.79

$4.10

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.49%

for

Institutional

Class,

0.58%

for

Advisor

Class,

0.64%

for

Premier

Class,

0.74%

for

Retirement

Class

and

0.80%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

Examples

(continued)

50

2.5

Mid-Cap

Value

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$961.26

$960.54

$960.51

$960.19

$960.67

Expenses

incurred

during

the

period*

$2.27

$2.79

$3.01

$3.50

$3.81

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.89

$1,022.36

$1,022.14

$1,021.63

$1,021.32

Expenses

incurred

during

the

period*

$2.34

$2.88

$3.10

$3.61

$3.93

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.46%

for

Institutional

Class,

0.56%

for

Advisor

Class,

0.61%

for

Premier

Class,

0.71%

for

Retirement

Class

and

0.77%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.6

Quant

Small-Cap

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$971.20

$970.55

$970.32

$970.01

$969.47

$973.80

Expenses

incurred

during

the

period*

$2.08

$2.45

$2.83

$3.32

$3.61

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.09

$1,022.72

$1,022.33

$1,021.83

$1,021.54

$1,025.20

Expenses

incurred

during

the

period*

$2.14

$2.51

$2.90

$3.41

$3.70

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.42%

for

Institutional

Class,

0.49%

for

Advisor

Class,

0.57%

for

Premier

Class,

0.67%

for

Retirement

Class,

0.73%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.7

Quant

Small/Mid-Cap

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$990.83

$990.02

$990.07

$989.92

$989.08

$992.52

Expenses

incurred

during

the

period*

$2.39

$2.98

$3.21

$3.60

$3.98

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.80

$1,022.21

$1,021.98

$1,021.59

$1,021.21

$1,025.20

Expenses

incurred

during

the

period*

$2.43

$3.03

$3.27

$3.66

$4.04

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.48%

for

Institutional

Class,

0.59%

for

Advisor

Class,

0.64%

for

Premier

Class,

0.72%

for

Retirement

Class,

0.79%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

51

2.8

Social

Choice

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$999.58

$999.57

$999.15

$998.33

$998.03

Expenses

incurred

during

the

period*

$0.86

$1.31

$1.62

$2.12

$2.24

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.35

$1,023.90

$1,023.58

$1,023.09

$1,022.96

Expenses

incurred

during

the

period*

$0.87

$1.32

$1.64

$2.14

$2.27

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.17%

for

Institutional

Class,

0.26%

for

Advisor

Class,

0.32%

for

Premier

Class,

0.42%

for

Retirement

Class

and

0.45%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.9

Social

Choice

Low

Carbon

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,002.28

$1,001.71

$1,001.14

$1,000.57

$1,000.57

Expenses

incurred

during

the

period*

$1.39

$1.93

$2.15

$2.65

$2.84

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.81

$1,023.28

$1,023.06

$1,022.56

$1,022.36

Expenses

incurred

during

the

period*

$1.41

$1.95

$2.17

$2.68

$2.87

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.28%

for

Institutional

Class,

0.38%

for

Advisor

Class,

0.43%

for

Premier

Class,

0.53%

for

Retirement

Class

and

0.56%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

3.01

Emerging

Markets

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$960.53

$960.53

$959.26

$959.05

$957.78

$964.61

Expenses

incurred

during

the

period*

$4.44

$4.91

$5.43

$5.93

$6.32

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,020.67

$1,020.19

$1,019.66

$1,019.16

$1,018.75

$1,025.20

Expenses

incurred

during

the

period*

$4.58

$5.06

$5.60

$6.11

$6.51

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.90%

for

Institutional

Class,

0.99%

for

Advisor

Class,

1.10%

for

Premier

Class,

1.20%

for

Retirement

Class,

1.28%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

Examples

(continued)

52

3.1

International

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$943.92

$943.67

$943.08

$943.18

$942.63

$945.75

Expenses

incurred

during

the

period*

$2.25

$2.78

$2.98

$3.47

$4.00

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.89

$1,022.34

$1,022.13

$1,021.63

$1,021.09

$1,025.19

Expenses

incurred

during

the

period*

$2.34

$2.89

$3.10

$3.61

$4.16

$0.02

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.46%

for

Institutional

Class,

0.57%

for

Advisor

Class,

0.61%

for

Premier

Class,

0.71%

for

Retirement

Class,

0.82%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

3.2

International

Opportunities

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$900.98

$900.14

$899.79

$899.22

$899.37

$903.43

Expenses

incurred

during

the

period*

$2.89

$3.30

$4.07

$4.55

$4.40

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.17

$1,021.73

$1,020.92

$1,020.42

$1,020.57

$1,025.20

Expenses

incurred

during

the

period*

$3.07

$3.52

$4.33

$4.84

$4.68

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.60%

for

Institutional

Class,

0.69%

for

Advisor

Class,

0.85%

for

Premier

Class,

0.95%

for

Retirement

Class,

0.92%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

3.3

Quant

International

Small-Cap

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$938.08

$938.02

$936.93

$937.95

$936.15

$942.39

Expenses

incurred

during

the

period*

$3.56

$3.78

$4.41

$4.79

$5.56

$0.03

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,021.53

$1,021.31

$1,020.65

$1,020.27

$1,019.46

$1,025.18

Expenses

incurred

during

the

period*

$3.72

$3.94

$4.60

$4.99

$5.80

$0.03

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.73%

for

Institutional

Class,

0.77%

for

Advisor

Class,

0.90%

for

Premier

Class,

0.98%

for

Retirement

Class,

1.14%

for

Retail

Class

and

0.01%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

53

3.4

Social

Choice

International

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$924.36

$923.51

$923.69

$923.26

$923.32

Expenses

incurred

during

the

period*

$1.66

$2.35

$2.42

$2.87

$3.03

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.48

$1,022.76

$1,022.68

$1,022.22

$1,022.05

Expenses

incurred

during

the

period*

$1.75

$2.47

$2.55

$3.02

$3.19

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.34%

for

Institutional

Class,

0.49%

for

Advisor

Class,

0.50%

for

Premier

Class,

0.59%

for

Retirement

Class

and

0.63%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Report

of

Independent

Registered

Public

Accounting

Firm

54

To

the

Board

of

Trustees

of

TIAA-CREF

Funds

and

Shareholders

of

TIAA-CREF

Growth

&

Income

Fund,

TIAA-CREF

Large-Cap

Growth

Fund,

TIAA-CREF

Large-Cap

Value

Fund,

TIAA-CREF

Mid-Cap

Growth

Fund,

TIAA-CREF

Mid-Cap

Value

Fund,

TIAA-CREF

Quant

Small-Cap

Equity

Fund,

TIAA-CREF

Quant

Small/Mid-Cap

Equity

Fund,

TIAA-CREF

Social

Choice

Equity

Fund,

TIAA-CREF

Social

Choice

Low

Carbon

Equity

Fund,

TIAA-CREF

Emerging

Markets

Equity

Fund,

TIAA-CREF

International

Equity

Fund,

TIAA-CREF

International

Opportunities

Fund,

TIAA-CREF

Quant

International

Small-Cap

Equity

Fund

and

TIAA-CREF

Social

Choice

International

Equity

Fund

Opinions

on

the

Financial

Statements

We

have

audited

the

accompanying

statements

of

assets

and

liabilities,

including

the

portfolios

of

investments,

of

TIAA-CREF

Growth

&

Income

Fund,

TIAA-CREF

Large-Cap

Growth

Fund,

TIAA-CREF

Large-Cap

Value

Fund,

TIAA-CREF

Mid-Cap

Growth

Fund,

TIAA-CREF

Mid-Cap

Value

Fund,

TIAA-CREF

Quant

Small-Cap

Equity

Fund,

TIAA-CREF

Quant

Small/Mid-Cap

Equity

Fund,

TIAA-CREF

Social

Choice

Equity

Fund,

TIAA-CREF

Social

Choice

Low

Carbon

Equity

Fund,

TIAA-CREF

Emerging

Markets

Equity

Fund,

TIAA-CREF

International

Equity

Fund,

TIAA-CREF

International

Opportunities

Fund,

TIAA-CREF

Quant

International

Small-Cap

Equity

Fund

and

TIAA-CREF

Social

Choice

International

Equity

Fund

(fourteen

of

the

funds

constituting

TIAA-CREF

Funds,

hereafter

collectively

referred

to

as

the

"Funds")

as

of

October

31,

2023,

the

related

statements

of

operations

for

the

year

ended

October

31,

2023,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2023

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

as

of

October

31,

2023,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023

and

each

of

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2023

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

of

the

Funds’

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds’

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2023

by

correspondence

with

the

custodian

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/PricewaterhouseCoopers

LLP

Charlotte,

North

Carolina

December

21,

2023

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

TIAA-CREF

Funds’

investment

company

group

since

2005. 

Portfolio

of

Investments

Growth

&

Income

Fund

October

31,

2023

55

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.4%

COMMON

STOCKS

-

99.4%

AUTOMOBILES

&

COMPONENTS

-

2

.0

%

1,898,213

BorgWarner,

Inc

$

70,044,060‌

167,230

(a)

Tesla,

Inc

33,586,473‌

TOTAL

AUTOMOBILES

&

COMPONENTS

103,630,533‌

BANKS

-

1

.6

%

2,128,449

Wells

Fargo

&

Co

84,648,417‌

TOTAL

BANKS

84,648,417‌

CAPITAL

GOODS

-

7

.2

%

452,563

Dover

Corp

58,810,562‌

332,815

Honeywell

International,

Inc

60,991,677‌

266,324

Hubbell,

Inc

71,934,112‌

143,463

United

Rentals,

Inc

58,284,713‌

85,163

W.W.

Grainger,

Inc

62,154,512‌

561,787

Westinghouse

Air

Brake

Technologies

Corp

59,560,658‌

TOTAL

CAPITAL

GOODS

371,736,234‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

0

.6

%

50,566

Costco

Wholesale

Corp

27,934,681‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

27,934,681‌

ENERGY

-

5

.5

%

583,091

Chevron

Corp

84,973,852‌

393,237

EOG

Resources,

Inc

49,646,171‌

1,013,881

Exxon

Mobil

Corp

107,319,304‌

341,354

Valero

Energy

Corp

43,351,958‌

TOTAL

ENERGY

285,291,285‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

1

.9

%

903,314

Simon

Property

Group,

Inc

99,265,175‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

99,265,175‌

FINANCIAL

SERVICES

-

9

.9

%

335,203

American

Express

Co

48,949,694‌

362,846

Ameriprise

Financial,

Inc

114,140,466‌

515,432

Ares

Management

Corp

50,816,441‌

2,136,059

Bank

of

New

York

Mellon

Corp

90,782,508‌

254,424

Mastercard,

Inc

(Class

A)

95,752,472‌

483,680

Visa,

Inc

(Class

A)

113,713,168‌

TOTAL

FINANCIAL

SERVICES

514,154,749‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

10

.5

%

750,408

Abbott

Laboratories

70,951,077‌

968,868

(a)

Boston

Scientific

Corp

49,596,353‌

1,095,538

Cardinal

Health,

Inc

99,693,958‌

351,811

Cigna

Group

108,779,961‌

417,844

Laboratory

Corp

of

America

Holdings

83,455,982‌

241,093

UnitedHealth

Group,

Inc

129,119,767‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

541,597,098‌

INSURANCE

-

5

.8

%

1,867,563

American

International

Group,

Inc

114,500,287‌

835,623

(a)

Arch

Capital

Group

Ltd

72,431,802‌

Growth

&

Income

Fund

October

31,

2023

56

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

537,101

Chubb

Ltd

$

115,272,617‌

TOTAL

INSURANCE

302,204,706‌

MATERIALS

-

2

.2

%

881,322

Corteva,

Inc

42,426,841‌

189,654

Linde

plc

72,478,173‌

TOTAL

MATERIALS

114,905,014‌

MEDIA

&

ENTERTAINMENT

-

7

.5

%

872,641

(a)

Alphabet,

Inc

109,341,917‌

964,423

(a)

Alphabet,

Inc

(Class

A)

119,665,606‌

530,806

(a)

Meta

Platforms,

Inc

159,915,924‌

TOTAL

MEDIA

&

ENTERTAINMENT

388,923,447‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

4

.6

%

1,721,975

Bristol-Myers

Squibb

Co

88,733,372‌

1,438,819

Merck

&

Co,

Inc

147,766,711‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

236,500,083‌

RETAILING

-

7

.9

%

1,627,719

(a)

Amazon.com,

Inc

216,633,122‌

344,049

Home

Depot,

Inc

97,947,310‌

498,545

Lowe's

Cos,

Inc

95,007,720‌

TOTAL

RETAILING

409,588,152‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

8

.1

%

120,899

Broadcom,

Inc

101,720,792‌

108,997

Lam

Research

Corp

64,114,215‌

452,115

Nvidia

Corp

184,372,497‌

650,658

QUALCOMM,

Inc

70,915,215‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

421,122,719‌

SOFTWARE

&

SERVICES

-

13

.0

%

1,273,762

Microsoft

Corp

430,671,670‌

1,196,711

Oracle

Corp

123,739,917‌

236,088

(a)

Palo

Alto

Networks,

Inc

57,374,106‌

129,468

(a)

Synopsys,

Inc

60,777,458‌

TOTAL

SOFTWARE

&

SERVICES

672,563,151‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

8

.0

%

2,132,468

Apple,

Inc

364,161,560‌

246,565

(a)

Arista

Networks,

Inc

49,404,229‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

413,565,789‌

UTILITIES

-

3

.1

%

969,431

Alliant

Energy

Corp

47,298,538‌

671,759

American

Electric

Power

Co,

Inc

50,744,675‌

1,034,962

NextEra

Energy,

Inc

60,338,285‌

TOTAL

UTILITIES

158,381,498‌

TOTAL

COMMON

STOCKS

5,146,012,731‌

(Cost

$3,789,880,178)

TOTAL

LONG-TERM

INVESTMENTS

5,146,012,731‌

(Cost

$3,789,880,178)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.4%

GOVERNMENT

AGENCY

DEBT

-

0

.1

%

$

5,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

01/05/24

4,953,467‌

TOTAL

GOVERNMENT

AGENCY

DEBT

4,953,467‌

57

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REPURCHASE

AGREEMENT

-

0

.3

%

$

18,855,000

(b)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

%

11/01/23

$

18,855,000‌

TOTAL

REPURCHASE

AGREEMENT

18,855,000‌

TOTAL

SHORT-TERM

INVESTMENTS

23,808,467‌

(Cost

$23,807,017)

TOTAL

INVESTMENTS

-

99.8%

5,169,821,198‌

(Cost

$3,813,687,195)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.2%

8,403,458‌

NET

ASSETS

-

100.0%

$

5,178,224,656‌

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$18,855,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.125%

and

maturity

date

2/15/41,

valued

at

$19,232,124.

Large-Cap

Growth

Fund

October

31,

2023

Portfolio

of

Investments

58

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.8%

COMMON

STOCKS

-

99.8%

AUTOMOBILES

&

COMPONENTS

-

1.2%

309,542

(a)

Tesla,

Inc

$

62,168,415‌

TOTAL

AUTOMOBILES

&

COMPONENTS

62,168,415‌

CAPITAL

GOODS

-

3.5%

554,653

(a)

Boeing

Co

103,620,273‌

97,993

Deere

&

Co

35,802,723‌

192,409

Honeywell

International,

Inc

35,260,873‌

11,742

Safran

S.A.

1,834,329‌

TOTAL

CAPITAL

GOODS

176,518,198‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1.6%

799,205

Experian

Group

Ltd

24,246,911‌

136,378

Verisk

Analytics,

Inc

31,006,902‌

216,247

Waste

Connections,

Inc

28,003,987‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

83,257,800‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

1.3%

747,902

TJX

Cos,

Inc

65,867,729‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

65,867,729‌

CONSUMER

DURABLES

&

APPAREL

-

0.9%

57,402

Kering

23,345,480‌

3,817,100

PRADA

S.p.A

22,994,418‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

46,339,898‌

CONSUMER

SERVICES

-

4.7%

36,679

(a)

Booking

Holdings,

Inc

102,318,271‌

1,429,967

(a)

Carnival

Corp

16,387,422‌

210,326

(a)

Flutter

Entertainment

plc

33,076,986‌

747,816

Las

Vegas

Sands

Corp

35,491,347‌

601,655

Starbucks

Corp

55,496,657‌

TOTAL

CONSUMER

SERVICES

242,770,683‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

2.1%

193,086

Costco

Wholesale

Corp

106,668,430‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

106,668,430‌

ENERGY

-

1.4%

309,046

ConocoPhillips

36,714,665‌

156,198

Pioneer

Natural

Resources

Co

37,331,322‌

TOTAL

ENERGY

74,045,987‌

FINANCIAL

SERVICES

-

5.0%

13,586

(a),(b)

Adyen

NV

9,163,565‌

141,161

American

Express

Co

20,613,741‌

251,593

London

Stock

Exchange

Group

plc

25,384,483‌

1,243,168

(a)

PayPal

Holdings,

Inc

64,396,102‌

577,737

Visa,

Inc

(Class

A)

135,825,969‌

TOTAL

FINANCIAL

SERVICES

255,383,860‌

FOOD,

BEVERAGE

&

TOBACCO

-

1.8%

2,019,137

Davide

Campari-Milano

NV

22,319,064‌

1,383,926

(a)

Monster

Beverage

Corp

70,718,619‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

93,037,683‌

59

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

6.1%

136,468

(a)

Align

Technology,

Inc

$

25,190,628‌

450,066

(a)

DexCom,

Inc

39,979,363‌

153,800

Essilor

International

S.A.

27,850,633‌

199,992

(a)

Intuitive

Surgical,

Inc

52,441,902‌

243,946

UnitedHealth

Group,

Inc

130,647,720‌

174,065

(a)

Veeva

Systems,

Inc

33,544,066‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

309,654,312‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1.5%

273,682

Estee

Lauder

Cos

(Class

A)

35,269,399‌

2,313,895

Kenvue,

Inc

43,038,447‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

78,307,846‌

INSURANCE

-

0.4%

324,693

American

International

Group,

Inc

19,906,928‌

TOTAL

INSURANCE

19,906,928‌

MATERIALS

-

1.3%

195,512

Corteva,

Inc

9,411,948‌

146,216

Linde

plc

55,877,906‌

TOTAL

MATERIALS

65,289,854‌

MEDIA

&

ENTERTAINMENT

-

11.9%

2,242,882

(a)

Alphabet,

Inc

281,033,114‌

1,218,535

(a)

Match

Group,

Inc

42,161,311‌

861,003

(a)

Meta

Platforms,

Inc

259,394,374‌

242,314

NetEase,

Inc

(ADR)

25,908,213‌

TOTAL

MEDIA

&

ENTERTAINMENT

608,497,012‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

4.6%

231,558

Amgen,

Inc

59,209,381‌

345,357

Gilead

Sciences,

Inc

27,124,339‌

101,746

(a)

Illumina,

Inc

11,133,047‌

970,144

Novo

Nordisk

A.S.

93,595,813‌

282,891

Zoetis,

Inc

44,413,887‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

235,476,467‌

RETAILING

-

10.9%

4,188,580

(a)

Amazon.com,

Inc

557,458,112‌

TOTAL

RETAILING

557,458,112‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

9.7%

575,671

Applied

Materials,

Inc

76,190,057‌

158,886

Broadcom,

Inc

133,681,914‌

1,137,752

Intel

Corp

41,527,948‌

600,298

Nvidia

Corp

244,801,524‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

496,201,443‌

SOFTWARE

&

SERVICES

-

21.2%

199,280

(a)

Atlassian

Corp

Ltd

35,997,939‌

172,410

Intuit,

Inc

85,334,329‌

1,749,478

Microsoft

Corp

591,516,007‌

273,355

Oracle

Corp

28,264,907‌

209,668

(a)

Palo

Alto

Networks,

Inc

50,953,517‌

97,108

Roper

Industries,

Inc

47,444,056‌

577,992

(a)

Salesforce,

Inc

116,078,133‌

72,330

(a)

ServiceNow,

Inc

42,085,210‌

85,915

(a)

Synopsys,

Inc

40,331,938‌

223,112

(a)

Workday,

Inc

47,235,042‌

TOTAL

SOFTWARE

&

SERVICES

1,085,241,078‌

Large-Cap

Growth

Fund

October

31,

2023

60

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

6.4%

1,920,759

Apple,

Inc

$

328,008,015‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

328,008,015‌

TRANSPORTATION

-

2.3%

3,133,698

(a)

Grab

Holdings

Ltd

9,620,453‌

2,469,370

(a)

Uber

Technologies,

Inc

106,874,334‌

TOTAL

TRANSPORTATION

116,494,787‌

TOTAL

COMMON

STOCKS

5,106,594,537‌

(Cost

$3,027,418,654)

TOTAL

LONG-TERM

INVESTMENTS

5,106,594,537‌

(Cost

$3,027,418,654)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.2%

TREASURY

DEBT

-

0.2%

$

5,718,000

United

States

Treasury

Bill

0.000

%

11/07/23

5,712,968‌

6,500,000

United

States

Treasury

Bill

0.000

11/14/23

6,487,586‌

TOTAL

TREASURY

DEBT

12,200,554‌

TOTAL

SHORT-TERM

INVESTMENTS

12,200,554‌

(Cost

$12,200,542)

TOTAL

INVESTMENTS

-

100.0%

5,118,795,091‌

(Cost

$3,039,619,196)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.0%

354,109‌

NET

ASSETS

-

100.0%

$

5,119,149,200‌

ADR

American

Depositary

Receipt

(a)

Non-income

producing

(b)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

Portfolio

of

Investments

Large-Cap

Value

Fund

October

31,

2023

61

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

98.9%

COMMON

STOCKS

-

98.9%

BANKS

-

8.3%

3,098,985

Bank

of

America

Corp

$

81,627,265‌

1,126,123

JPMorgan

Chase

&

Co

156,598,665‌

362,383

PNC

Financial

Services

Group,

Inc

41,481,982‌

2,364,581

Wells

Fargo

&

Co

94,039,386‌

TOTAL

BANKS

373,747,298‌

CAPITAL

GOODS

-

10.5%

185,653

Allegion

plc

18,260,829‌

264,341

(a)

Boeing

Co

49,384,186‌

86,556

Deere

&

Co

31,624,100‌

354,313

Dover

Corp

46,042,974‌

293,363

Eaton

Corp

plc

60,993,101‌

398,550

Honeywell

International,

Inc

73,038,272‌

474,042

Masco

Corp

24,692,848‌

167,377

Parker-Hannifin

Corp

61,747,049‌

957,516

RTX

Corp

77,932,227‌

148,147

Trane

Technologies

plc

28,193,856‌

TOTAL

CAPITAL

GOODS

471,909,442‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.1%

66,465

(a)

Veralto

Corp

4,586,085‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

4,586,085‌

CONSUMER

DURABLES

&

APPAREL

-

1.0%

8,185

(a)

NVR,

Inc

44,302,295‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

44,302,295‌

CONSUMER

SERVICES

-

3.1%

9,521

(a)

Booking

Holdings,

Inc

26,559,401‌

431,061

Hilton

Worldwide

Holdings,

Inc

65,318,673‌

189,042

McDonald's

Corp

49,561,141‌

TOTAL

CONSUMER

SERVICES

141,439,215‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

2.0%

558,062

Walmart,

Inc

91,192,912‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

91,192,912‌

ENERGY

-

9.4%

441,717

Chevron

Corp

64,371,419‌

829,928

ConocoPhillips

98,595,446‌

621,329

EOG

Resources,

Inc

78,442,786‌

1,219,383

Exxon

Mobil

Corp

129,071,691‌

409,671

Valero

Energy

Corp

52,028,217‌

TOTAL

ENERGY

422,509,559‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

1.2%

552,160

Prologis,

Inc

55,630,120‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

55,630,120‌

FINANCIAL

SERVICES

-

9.2%

376,479

American

Express

Co

54,977,228‌

329,886

(a)

Berkshire

Hathaway,

Inc

112,599,988‌

70,172

BlackRock,

Inc

42,964,912‌

822,111

Charles

Schwab

Corp

42,782,656‌

545,673

(a)

Fiserv,

Inc

62,070,304‌

Large-Cap

Value

Fund

October

31,

2023

62

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

199,704

Goldman

Sachs

Group,

Inc

$

60,632,132‌

385,081

Intercontinental

Exchange,

Inc

41,373,103‌

TOTAL

FINANCIAL

SERVICES

417,400,323‌

FOOD,

BEVERAGE

&

TOBACCO

-

2.2%

625,460

Mondelez

International,

Inc

41,411,707‌

673,820

Philip

Morris

International,

Inc

60,077,791‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

101,489,498‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

8.4%

685,912

Abbott

Laboratories

64,852,980‌

237,629

Cigna

Group

73,474,887‌

150,614

Elevance

Health,

Inc

67,789,855‌

224,263

HCA,

Inc

50,714,835‌

739,575

Medtronic

plc

52,184,412‌

135,622

UnitedHealth

Group,

Inc

72,633,718‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

381,650,687‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

2.3%

1,765,318

Kenvue,

Inc

32,834,915‌

474,825

Procter

&

Gamble

Co

71,237,995‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

104,072,910‌

INSURANCE

-

5.6%

1,171,977

American

International

Group,

Inc

71,853,910‌

393,265

Chubb

Ltd

84,402,534‌

293,595

Marsh

&

McLennan

Cos,

Inc

55,680,292‌

699,647

Metlife,

Inc

41,985,816‌

TOTAL

INSURANCE

253,922,552‌

MATERIALS

-

5.2%

230,235

Celanese

Corp

(Series

A)

26,364,210‌

546,235

Crown

Holdings,

Inc

44,026,541‌

721,978

DuPont

de

Nemours,

Inc

52,617,756‌

239,849

Linde

plc

91,660,694‌

71,805

Reliance

Steel

&

Aluminum

Co

18,265,756‌

TOTAL

MATERIALS

232,934,957‌

MEDIA

&

ENTERTAINMENT

-

3.5%

262,874

(a)

Alphabet,

Inc

32,938,112‌

1,771,764

Comcast

Corp

(Class

A)

73,156,136‌

612,383

(a)

Walt

Disney

Co

49,964,329‌

TOTAL

MEDIA

&

ENTERTAINMENT

156,058,577‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

7.7%

260,977

AbbVie,

Inc

36,844,733‌

199,992

Danaher

Corp

38,402,464‌

614,063

Gilead

Sciences,

Inc

48,228,508‌

829,312

Johnson

&

Johnson

123,020,142‌

708,569

Merck

&

Co,

Inc

72,770,036‌

606,054

Sanofi

(ADR)

27,423,944‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

346,689,827‌

RETAILING

-

0.3%

42,441

Home

Depot,

Inc

12,082,528‌

TOTAL

RETAILING

12,082,528‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

5.5%

263,587

Analog

Devices,

Inc

41,470,143‌

376,353

Applied

Materials,

Inc

49,810,320‌

38,505

Broadcom,

Inc

32,396,952‌

666,917

Intel

Corp

24,342,470‌

43,591

Lam

Research

Corp

25,641,098‌

63

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

556,589

Micron

Technology,

Inc

$

37,219,106‌

220,635

NXP

Semiconductors

NV

38,044,093‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

248,924,182‌

SOFTWARE

&

SERVICES

-

3.5%

126,070

Accenture

plc

37,454,136‌

155,199

Microsoft

Corp

52,474,334‌

667,563

Oracle

Corp

69,026,014‌

TOTAL

SOFTWARE

&

SERVICES

158,954,484‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

2.5%

1,141,463

Cisco

Systems,

Inc

59,504,466‌

457,633

TE

Connectivity

Ltd

53,932,049‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

113,436,515‌

TELECOMMUNICATION

SERVICES

-

1.3%

402,290

(a)

T-Mobile

US,

Inc

57,873,439‌

TOTAL

TELECOMMUNICATION

SERVICES

57,873,439‌

TRANSPORTATION

-

2.9%

726,667

(a),(b),(c)

AMR

Corporation

7,267‌

1,145,644

CSX

Corp

34,197,473‌

300,450

Union

Pacific

Corp

62,376,424‌

243,206

United

Parcel

Service,

Inc

(Class

B)

34,352,848‌

TOTAL

TRANSPORTATION

130,934,012‌

UTILITIES

-

3.2%

514,616

Ameren

Corp

38,961,578‌

483,095

American

Electric

Power

Co,

Inc

36,492,996‌

802,354

Dominion

Energy,

Inc

32,350,913‌

599,613

NextEra

Energy,

Inc

34,957,438‌

TOTAL

UTILITIES

142,762,925‌

TOTAL

COMMON

STOCKS

4,464,504,342‌

(Cost

$3,284,221,509)

TOTAL

LONG-TERM

INVESTMENTS

4,464,504,342‌

(Cost

$3,284,221,509)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.7%

GOVERNMENT

AGENCY

DEBT

-

0.3%

$

8,750,000

Federal

Home

Loan

Bank

(FHLB)

0.000

%

11/03/23

8,747,504‌

5,000,000

FHLB

0.000

01/05/24

4,953,467‌

TOTAL

GOVERNMENT

AGENCY

DEBT

13,700,971‌

REPURCHASE

AGREEMENT

-

0.1%

5,925,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5.300

11/01/23

5,925,000‌

TOTAL

REPURCHASE

AGREEMENT

5,925,000‌

TREASURY

DEBT

-

0.3%

1,195,000

United

States

Treasury

Bill

0.000

11/02/23

1,194,825‌

10,000,000

United

States

Treasury

Bill

0.000

11/07/23

9,991,200‌

TOTAL

TREASURY

DEBT

11,186,025‌

TOTAL

SHORT-TERM

INVESTMENTS

30,811,996‌

(Cost

$30,810,460)

TOTAL

INVESTMENTS

-

99.6%

4,495,316,338‌

(Cost

$3,315,031,969)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.4%

17,319,885‌

NET

ASSETS

-

100.0%

$

4,512,636,223‌

Large-Cap

Value

Fund

October

31,

2023

64

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

ADR

American

Depositary

Receipt

(a)

Non-income

producing

(b)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(c)

In

bankruptcy

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$5,925,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

1.375%

and

maturity

date

11/15/31,

valued

at

$6,043,521.

Portfolio

of

Investments

Mid-Cap

Growth

Fund

October

31,

2023

65

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

98.8%

COMMON

STOCKS

-

98.7%

CAPITAL

GOODS

-

7

.7

%

67,096

Ametek,

Inc

$

9,445,104‌

188,344

Carrier

Global

Corp

8,976,475‌

33,232

Ferguson

plc

4,991,447‌

246,312

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

5,566,651‌

24,565

(a)

TransDigm

Group,

Inc

20,342,031‌

27,070

W.W.

Grainger,

Inc

19,756,498‌

TOTAL

CAPITAL

GOODS

69,078,206‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

12

.3

%

992,499

(a)

ACV

Auctions,

Inc

13,230,012‌

642,930

(a)

Cimpress

plc

38,363,633‌

416,680

(a)

Driven

Brands

Holdings,

Inc

4,741,818‌

290,970

Experian

Group

Ltd

8,827,677‌

128,393

Verisk

Analytics,

Inc

29,191,432‌

124,483

Waste

Connections,

Inc

16,120,549‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

110,475,121‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

3

.1

%

4,174

(a)

Autozone,

Inc

10,339,540‌

149,745

Ross

Stores,

Inc

17,365,928‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

27,705,468‌

CONSUMER

DURABLES

&

APPAREL

-

5

.3

%

291,871

(a),(b)

BK

LC

Lux

Finco

2

Sarl

11,403,400‌

104,165

(a)

Garmin

Ltd

10,680,037‌

2,266,700

PRADA

S.p.A

13,654,724‌

244,537

(a)

SharkNinja

Global

SPV

Ltd

10,211,865‌

775,992

(a)

Traeger,

Inc

2,040,859‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

47,990,885‌

CONSUMER

SERVICES

-

7

.7

%

310,498

(a)

Carnival

Corp

3,558,307‌

144,372

(a)

DraftKings,

Inc

3,987,555‌

603,842

Entain

plc

6,854,991‌

435,364

(a),(b)

European

Wax

Center,

Inc

6,430,326‌

124,389

(a)

Expedia

Group,

Inc

11,853,028‌

213,168

(b)

Restaurant

Brands

International,

Inc

14,324,890‌

2,534,543

(a)

Sabre

Corp

8,870,901‌

133,652

(a)

Trip.com

Group

Ltd

(ADR)

4,544,168‌

100,344

Wynn

Resorts

Ltd

8,808,196‌

TOTAL

CONSUMER

SERVICES

69,232,362‌

ENERGY

-

4

.6

%

125,837

Cheniere

Energy,

Inc

20,941,794‌

128,725

Diamondback

Energy,

Inc

20,637,192‌

TOTAL

ENERGY

41,578,986‌

FINANCIAL

SERVICES

-

7

.2

%

5,283

(a),(c)

Adyen

NV

3,563,309‌

67,905

Ameriprise

Financial,

Inc

21,360,876‌

47,753

FirstCash

Holdings,

Inc

5,201,257‌

228,934

Jefferies

Financial

Group,

Inc

7,367,096‌

45,639

LPL

Financial

Holdings,

Inc

10,246,868‌

772,263

(a)

Marqeta,

Inc

3,992,600‌

Mid-Cap

Growth

Fund

October

31,

2023

66

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

149,224

Tradeweb

Markets,

Inc

$

13,431,652‌

TOTAL

FINANCIAL

SERVICES

65,163,658‌

FOOD,

BEVERAGE

&

TOBACCO

-

2

.7

%

45,313

(a)

Celsius

Holdings,

Inc

6,891,654‌

1,186,515

Davide

Campari-Milano

NV

13,115,457‌

365,710

Fevertree

Drinks

plc

4,462,800‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

24,469,911‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

10

.1

%

70,724

(a)

Align

Technology,

Inc

13,054,943‌

277,722

(a)

DexCom,

Inc

24,670,045‌

15,656

(a)

IDEXX

Laboratories,

Inc

6,254,102‌

25,211

(a)

Inspire

Medical

Systems,

Inc

3,710,051‌

64,758

(a)

Molina

Healthcare,

Inc

21,561,176‌

110,887

(a)

Veeva

Systems,

Inc

21,369,034‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

90,619,351‌

INSURANCE

-

1

.8

%

164,976

(a)

Arch

Capital

Group

Ltd

14,300,120‌

97,837

(a)

Trupanion,

Inc

2,015,442‌

TOTAL

INSURANCE

16,315,562‌

MATERIALS

-

2

.1

%

90,128

Corteva,

Inc

4,338,762‌

88,526

Crown

Holdings,

Inc

7,135,196‌

62,954

Westlake

Chemical

Corp

7,262,373‌

TOTAL

MATERIALS

18,736,331‌

MEDIA

&

ENTERTAINMENT

-

3

.2

%

444,867

(a)

Match

Group,

Inc

15,392,398‌

271,803

(a)

ROBLOX

Corp

8,646,054‌

516,446

(a)

Warner

Bros

Discovery,

Inc

5,133,473‌

TOTAL

MEDIA

&

ENTERTAINMENT

29,171,925‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

6

.3

%

35,198

(a)

Alnylam

Pharmaceuticals,

Inc

5,343,056‌

46,107

(a)

Charles

River

Laboratories

International,

Inc

7,762,575‌

510,858

(a)

Elanco

Animal

Health,

Inc

4,500,659‌

25,775

(a)

Illumina,

Inc

2,820,300‌

43,283

(a)

Krystal

Biotech,

Inc

5,058,484‌

39,437

(a)

Repligen

Corp

5,306,643‌

75,757

(a)

Sarepta

Therapeutics,

Inc

5,099,204‌

20,723

(a)

United

Therapeutics

Corp

4,618,328‌

52,207

West

Pharmaceutical

Services,

Inc

16,616,966‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

57,126,215‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

4

.1

%

103,713

Entegris,

Inc

9,130,893‌

188,743

Marvell

Technology,

Inc

8,912,444‌

26,681

Monolithic

Power

Systems,

Inc

11,786,065‌

39,605

NXP

Semiconductors

NV

6,829,090‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

36,658,492‌

SOFTWARE

&

SERVICES

-

18

.9

%

281,204

Bentley

Systems,

Inc

13,677,762‌

156,310

(a)

Datadog,

Inc

12,734,576‌

47,803

(a)

EPAM

Systems,

Inc

10,400,499‌

190,707

(a)

Five9,

Inc

11,036,214‌

27,415

(a)

Gartner,

Inc

9,102,877‌

40,213

(a)

HubSpot,

Inc

17,041,063‌

101,800

(a)

Klaviyo,

Inc

2,900,282‌

35,732

(a)

MongoDB,

Inc

12,312,890‌

67

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

150,000

(a),(b)

Oddity

Tech

Ltd

$

3,832,500‌

116,562

(a)

Okta,

Inc

7,857,444‌

62,713

(a)

Palo

Alto

Networks,

Inc

15,240,513‌

87,725

(a)

Paylocity

Holding

Corp

15,737,865‌

423,589

(a)

SentinelOne,

Inc

6,620,696‌

48,484

(a)

Synopsys,

Inc

22,760,329‌

130,103

(a)

Trade

Desk,

Inc

9,232,109‌

TOTAL

SOFTWARE

&

SERVICES

170,487,619‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.6

%

213,263

(a)

Flextronics

International

Ltd

5,485,124‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

5,485,124‌

TELECOMMUNICATION

SERVICES

-

0

.0

%

153,712

(a),(d)

GCI

Liberty,

Inc

1,537‌

TOTAL

TELECOMMUNICATION

SERVICES

1,537‌

TRANSPORTATION

-

1

.0

%

699,966

(a)

Grab

Holdings

Ltd

2,148,896‌

814,235

(a)

Grab

Holdings

Ltd

2,499,701‌

514,004

(a)

Hertz

Global

Holdings,

Inc

4,333,054‌

TOTAL

TRANSPORTATION

8,981,651‌

TOTAL

COMMON

STOCKS

889,278,404‌

(Cost

$883,957,597)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.1%

TRANSPORTATION

-

0

.1

%

169,870

Hertz

Global

Holdings,

Inc

06/30/51

704,961‌

TOTAL

TRANSPORTATION

704,961‌

TOTAL

RIGHTS/WARRANTS

704,961‌

(Cost

$2,029,947)

TOTAL

LONG-TERM

INVESTMENTS

889,983,365‌

(Cost

$885,987,544)

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

0.2%

REPURCHASE

AGREEMENT

-

0

.2

%

$

1,750,000

(e)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

%

11/01/23

1,750,000‌

TOTAL

REPURCHASE

AGREEMENT

1,750,000‌

TOTAL

SHORT-TERM

INVESTMENTS

1,750,000‌

(Cost

$1,750,000)

Mid-Cap

Growth

Fund

October

31,

2023

68

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

RATE

EXP

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

3.4%

30,620,825

(f)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

%

$

30,620,825‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

30,620,825‌

(Cost

$30,620,825)

TOTAL

INVESTMENTS

-

102.4%

922,354,190‌

(Cost

$918,358,369)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(2.4)%

(

21,902,106‌

)

NET

ASSETS

-

100.0%

$

900,452,084‌

ADR

American

Depositary

Receipt

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$30,314,395.

(c)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(d)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(e)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$1,750,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.375%

and

maturity

date

1/31/26,

valued

at

$1,785,010.

(f)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Portfolio

of

Investments

Mid-Cap

Value

Fund

October

31,

2023

69

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.3%

COMMON

STOCKS

-

99.3%

BANKS

-

2

.2

%

336,017

East

West

Bancorp,

Inc

$

18,017,232‌

1,692,226

New

York

Community

Bancorp,

Inc

16,042,302‌

TOTAL

BANKS

34,059,534‌

CAPITAL

GOODS

-

21

.8

%

77,362

3M

Co

7,036,074‌

196,056

Ametek,

Inc

27,598,803‌

460,199

Carrier

Global

Corp

21,933,084‌

155,868

Crane

Co

15,170,633‌

155,868

Crane

NXT

Co

8,105,136‌

111,691

Curtiss-Wright

Corp

22,205,288‌

67,808

Eaton

Corp

plc

14,097,961‌

425,002

Howmet

Aerospace,

Inc

18,742,588‌

72,700

Hubbell,

Inc

19,636,270‌

197,160

ITT,

Inc

18,404,886‌

291,405

Johnson

Controls

International

plc

14,284,673‌

388,829

nVent

Electric

plc

18,714,340‌

71,912

Parker-Hannifin

Corp

26,529,056‌

125,791

Regal-Beloit

Corp

14,894,912‌

49,594

United

Rentals,

Inc

20,148,554‌

278,736

Vertiv

Holdings

Co

10,945,963‌

155,827

WESCO

International,

Inc

19,977,022‌

301,568

Westinghouse

Air

Brake

Technologies

Corp

31,972,239‌

TOTAL

CAPITAL

GOODS

330,397,482‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

2

.1

%

132,120

Republic

Services,

Inc

19,618,499‌

177,293

(a)

Veralto

Corp

12,233,217‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

31,851,716‌

CONSUMER

DURABLES

&

APPAREL

-

0

.3

%

686,422

Newell

Rubbermaid,

Inc

4,612,756‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

4,612,756‌

CONSUMER

SERVICES

-

6

.6

%

43,038

Domino's

Pizza,

Inc

14,589,452‌

251,308

(a)

Expedia

Group,

Inc

23,947,139‌

684,546

MGM

Resorts

International

23,904,346‌

351,558

Travel

&

Leisure

Co

11,963,519‌

342,243

Wyndham

Hotels

&

Resorts,

Inc

24,778,393‌

TOTAL

CONSUMER

SERVICES

99,182,849‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.1

%

300,940

(a)

Performance

Food

Group

Co

17,382,294‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

17,382,294‌

ENERGY

-

7

.5

%

250,855

Diamondback

Energy,

Inc

40,217,073‌

2,619,563

Permian

Resources

Corp

38,167,033‌

146,294

Pioneer

Natural

Resources

Co

34,964,266‌

TOTAL

ENERGY

113,348,372‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

6

.2

%

117,091

EastGroup

Properties,

Inc

19,115,106‌

614,750

Kimco

Realty

Corp

11,028,615‌

Mid-Cap

Value

Fund

October

31,

2023

70

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)—continued

340,218

Rexford

Industrial

Realty,

Inc

$

14,711,026‌

709,119

STAG

Industrial,

Inc

23,556,933‌

917,356

VICI

Properties,

Inc

25,594,233‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

94,005,913‌

FINANCIAL

SERVICES

-

9

.9

%

58,219

Ameriprise

Financial,

Inc

18,313,951‌

727,236

Equitable

Holdings,

Inc

19,322,660‌

503,496

Fidelity

National

Information

Services,

Inc

24,726,689‌

201,839

(a)

Fiserv,

Inc

22,959,186‌

74,054

(a)

FleetCor

Technologies,

Inc

16,674,739‌

142,298

Intercontinental

Exchange,

Inc

15,288,497‌

83,214

LPL

Financial

Holdings,

Inc

18,683,207‌

372,105

OneMain

Holdings,

Inc

13,369,733‌

TOTAL

FINANCIAL

SERVICES

149,338,662‌

FOOD,

BEVERAGE

&

TOBACCO

-

1

.4

%

661,863

Kraft

Heinz

Co

20,822,210‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

20,822,210‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

3

.8

%

388,119

(a)

Centene

Corp

26,772,449‌

58,516

Humana,

Inc

30,644,244‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

57,416,693‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.1

%

219,995

Spectrum

Brands

Holdings,

Inc

16,570,023‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

16,570,023‌

INSURANCE

-

9

.4

%

434,967

American

International

Group,

Inc

26,667,827‌

72,334

Everest

Re

Group

Ltd

28,616,777‌

559,209

Fidelity

National

Financial,

Inc

21,859,480‌

300,067

Metlife,

Inc

18,007,021‌

367,154

Unum

Group

17,953,830‌

122,030

Willis

Towers

Watson

plc

28,785,657‌

TOTAL

INSURANCE

141,890,592‌

MATERIALS

-

1

.7

%

357,822

DuPont

de

Nemours,

Inc

26,078,067‌

TOTAL

MATERIALS

26,078,067‌

MEDIA

&

ENTERTAINMENT

-

0

.9

%

394,738

(a)

Match

Group,

Inc

13,657,935‌

TOTAL

MEDIA

&

ENTERTAINMENT

13,657,935‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

5

.4

%

84,307

(a)

Biogen,

Inc

20,026,285‌

1,135,386

(a)

Elanco

Animal

Health,

Inc

10,002,751‌

1,252,093

(a)

Exelixis,

Inc

25,780,595‌

117,648

(a)

United

Therapeutics

Corp

26,219,033‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

82,028,664‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

2

.8

%

200,703

Marvell

Technology,

Inc

9,477,196‌

141,606

Microchip

Technology,

Inc

10,095,092‌

92,733

(a)

Onto

Innovation,

Inc

10,420,407‌

332,171

(b)

STMicroelectronics

NV

12,615,854‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

42,608,549‌

SOFTWARE

&

SERVICES

-

2

.7

%

1,261,129

Gen

Digital,

Inc

21,010,409‌

71

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

39,140

Roper

Industries,

Inc

$

19,122,630‌

TOTAL

SOFTWARE

&

SERVICES

40,133,039‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

3

.7

%

2,411,097

Hewlett

Packard

Enterprise

Co

37,082,672‌

740,690

HP,

Inc

19,502,368‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

56,585,040‌

UTILITIES

-

8

.7

%

499,001

Alliant

Energy

Corp

24,346,259‌

289,761

American

Electric

Power

Co,

Inc

21,888,546‌

508,220

(b)

Brookfield

Renewable

Corp

11,567,087‌

513,850

CMS

Energy

Corp

27,922,609‌

343,026

Dominion

Energy,

Inc

13,830,808‌

910,552

FirstEnergy

Corp

32,415,651‌

TOTAL

UTILITIES

131,970,960‌

TOTAL

COMMON

STOCKS

1,503,941,350‌

(Cost

$1,421,186,057)

TOTAL

LONG-TERM

INVESTMENTS

1,503,941,350‌

(Cost

$1,421,186,057)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.5%

GOVERNMENT

AGENCY

DEBT

-

0

.3

%

$

5,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

01/05/24

4,953,467‌

TOTAL

GOVERNMENT

AGENCY

DEBT

4,953,467‌

REPURCHASE

AGREEMENT

-

0

.2

%

3,085,000

(c)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

3,085,000‌

TOTAL

REPURCHASE

AGREEMENT

3,085,000‌

TOTAL

SHORT-TERM

INVESTMENTS

8,038,467‌

(Cost

$8,037,018)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.2%

3,103,340

(d)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

3,103,340‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

3,103,340‌

(Cost

$3,103,340)

TOTAL

INVESTMENTS

-

100.0%

1,515,083,157‌

(Cost

$1,432,326,415)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.0)%

(

744,184‌

)

NET

ASSETS

-

100.0%

$

1,514,338,973‌

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$3,010,166.

(c)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$3,085,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.375%

and

maturity

date

1/31/26,

valued

at

$3,146,721.

(d)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Quant

Small-Cap

Equity

Fund

October

31,

2023

Portfolio

of

Investments

72

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

98.3%

COMMON

STOCKS

-

98.3%

AUTOMOBILES

&

COMPONENTS

-

1

.4

%

280,560

(a)

Adient

plc

$

9,452,066‌

108,080

(a)

Fox

Factory

Holding

Corp

8,805,278‌

132,100

(a)

Gentherm,

Inc

5,313,062‌

243,100

(a)

Modine

Manufacturing

Co

9,602,450‌

TOTAL

AUTOMOBILES

&

COMPONENTS

33,172,856‌

BANKS

-

8

.3

%

242,950

Ameris

Bancorp

9,062,035‌

217,370

(a)

Axos

Financial,

Inc

7,831,841‌

59,320

(a)

Bancorp,

Inc

2,114,758‌

271,931

Bank

of

NT

Butterfield

&

Son

Ltd

6,868,977‌

149,634

Banner

Corp

6,316,051‌

504,460

Brookline

Bancorp,

Inc

4,106,304‌

156,190

Cadence

Bank

3,308,104‌

207,280

Cathay

General

Bancorp

7,028,865‌

150,600

Central

Pacific

Financial

Corp

2,376,468‌

233,230

Columbia

Banking

System,

Inc

4,587,634‌

201,743

ConnectOne

Bancorp,

Inc

3,286,393‌

280,390

(a)

Customers

Bancorp,

Inc

11,274,482‌

434,710

CVB

Financial

Corp

6,790,170‌

231,370

Eagle

Bancorp,

Inc

4,507,088‌

146,130

Enterprise

Financial

Services

Corp

5,080,940‌

160,010

First

Busey

Corp

3,177,799‌

118,970

First

Financial

Bancorp

2,200,945‌

90,270

First

Financial

Corp

3,106,191‌

189,910

First

Merchants

Corp

5,186,442‌

151,450

Heartland

Financial

USA,

Inc

4,149,730‌

320,260

Heritage

Commerce

Corp

2,619,727‌

227,300

Horizon

Bancorp,

Inc

2,157,077‌

79,079

Independent

Bank

Corp

1,577,626‌

214,810

Lakeland

Bancorp,

Inc

2,423,057‌

134,970

(a),(b)

Metropolitan

Bank

Holding

Corp

4,374,378‌

165,670

National

Bank

Holdings

Corp

5,165,591‌

256,900

OceanFirst

Financial

Corp

3,252,354‌

417,910

OFG

Bancorp

12,378,494‌

151,815

Old

National

Bancorp

2,079,865‌

323,300

Pacific

Premier

Bancorp,

Inc

6,142,700‌

39,550

Preferred

Bank

2,355,994‌

60,595

QCR

Holdings,

Inc

2,875,233‌

211,790

Renasant

Corp

5,165,558‌

217,620

Towne

Bank

5,209,823‌

134,885

UMB

Financial

Corp

8,459,987‌

45,900

United

Bankshares,

Inc

1,305,396‌

315,302

United

Community

Banks,

Inc

6,965,021‌

310,700

Veritex

Holdings,

Inc

5,350,254‌

160,570

Washington

Federal,

Inc

3,962,868‌

170,970

WesBanco,

Inc

4,169,958‌

155,210

Westamerica

Bancorporation

7,332,120‌

61,320

WSFS

Financial

Corp

2,170,728‌

TOTAL

BANKS

199,855,026‌

CAPITAL

GOODS

-

12

.7

%

23,110

(a)

Aerovironment,

Inc

2,649,793‌

95,020

Albany

International

Corp

(Class

A)

7,754,582‌

543,510

(a)

API

Group

Corp

14,060,604‌

73

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

98,150

Applied

Industrial

Technologies,

Inc

$

15,067,006‌

141,830

Arcosa,

Inc

9,796,198‌

48,703

(a)

Atkore,

Inc

6,052,809‌

173,620

Barnes

Group,

Inc

3,609,560‌

196,350

(a)

Blue

Bird

Corp

3,575,534‌

147,130

Comfort

Systems

USA,

Inc

26,755,591‌

140,750

(a)

Construction

Partners,

Inc

5,411,838‌

53,189

CSW

Industrials,

Inc

9,428,282‌

17,145

EMCOR

Group,

Inc

3,543,014‌

231,970

Enerpac

Tool

Group

Corp

6,564,751‌

92,540

EnerSys

7,919,573‌

57,985

EnPro

Industries,

Inc

6,439,814‌

42,210

ESCO

Technologies,

Inc

4,103,656‌

172,010

Federal

Signal

Corp

9,983,460‌

332,710

(a)

Fluor

Corp

11,075,916‌

86,840

FTAI

Aviation

Ltd

3,266,052‌

132,320

(a)

Gibraltar

Industries,

Inc

8,052,995‌

81,580

(a)

GMS,

Inc

4,770,798‌

150,230

H&E

Equipment

Services,

Inc

6,117,366‌

562,590

(a)

Janus

International

Group,

Inc

5,265,842‌

19,985

Lindsay

Corp

2,496,526‌

88,340

McGrath

RentCorp

8,887,004‌

635,750

(a)

NOW,

Inc

7,005,965‌

188,490

(a)

Parsons

Corp

10,659,110‌

280,620

(a)

PGT

Innovations,

Inc

8,401,763‌

74,500

Powell

Industries,

Inc

5,710,425‌

241,215

Rush

Enterprises,

Inc

(Class

A)

8,582,430‌

588,410

(a)

Shoals

Technologies

Group,

Inc

9,037,978‌

100,220

Simpson

Manufacturing

Co,

Inc

13,347,300‌

132,970

(a)

SPX

Technologies,

Inc

10,653,556‌

18,360

Standex

International

Corp

2,635,945‌

95,650

(a)

Titan

Machinery,

Inc

2,375,946‌

529,670

(a)

Triumph

Group,

Inc

3,951,338‌

83,140

UFP

Industries,

Inc

7,912,434‌

293,517

Wabash

National

Corp

6,072,867‌

72,340

Watts

Water

Technologies,

Inc

(Class

A)

12,515,543‌

119,510

(a)

WillScot

Mobile

Mini

Holdings

Corp

4,709,889‌

58,164

Zurn

Elkay

Water

Solutions

Corp

1,539,019‌

TOTAL

CAPITAL

GOODS

307,760,072‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

3

.6

%

134,237

(a)

CBIZ,

Inc

6,974,955‌

453,450

(a)

ExlService

Holdings,

Inc

11,839,579‌

101,152

Exponent,

Inc

7,413,430‌

79,770

(a)

Franklin

Covey

Co

3,143,736‌

501,770

Healthcare

Services

Group

4,766,815‌

86,130

Heidrick

&

Struggles

International,

Inc

2,096,404‌

147,910

Herman

Miller,

Inc

3,475,885‌

96,060

(a)

Huron

Consulting

Group,

Inc

9,544,522‌

26,603

ICF

International,

Inc

3,371,398‌

651,950

(a)

Legalzoom.com,

Inc

6,499,941‌

163,550

(a)

Montrose

Environmental

Group,

Inc

3,781,276‌

63,510

(a)

NV5

Global,

Inc

5,992,169‌

110,785

(a),(b)

TriNet

Group,

Inc

11,383,159‌

588,020

(a)

Upwork,

Inc

6,144,809‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

86,428,078‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

2

.3

%

244,130

(a)

Abercrombie

&

Fitch

Co

(Class

A)

14,847,987‌

191,180

Build-A-Bear

Workshop,

Inc

4,741,264‌

631,000

(a)

CarParts.com,

Inc

1,785,730‌

327,360

(a)

National

Vision

Holdings,

Inc

5,087,174‌

261,800

Rent-A-Center,

Inc

6,822,508‌

Quant

Small-Cap

Equity

Fund

October

31,

2023

74

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL—continued

48,420

(b)

Signet

Jewelers

Ltd

$

3,381,168‌

105,870

(a)

Sleep

Number

Corp

1,722,505‌

278,200

(a)

Urban

Outfitters,

Inc

9,631,284‌

515,420

(a)

Warby

Parker,

Inc

6,690,152‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

54,709,772‌

CONSUMER

DURABLES

&

APPAREL

-

1

.2

%

67,530

(a)

Crocs,

Inc

6,031,780‌

77,450

Installed

Building

Products,

Inc

8,648,842‌

93,590

(a)

M/I

Homes,

Inc

7,680,931‌

42,972

(a)

Skyline

Champion

Corp

2,519,448‌

119,570

(a)

Taylor

Morrison

Home

Corp

4,581,922‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

29,462,923‌

CONSUMER

SERVICES

-

4

.0

%

11,550

(a)

Biglari

Holdings,

Inc

(B

Shares)

1,706,743‌

61,720

Carriage

Services,

Inc

1,333,152‌

428,820

(a)

Coursera,

Inc

7,435,739‌

85,470

(a)

Duolingo,

Inc

12,482,894‌

467,280

(a)

Everi

Holdings,

Inc

5,041,951‌

258,230

(a)

Frontdoor,

Inc

7,470,594‌

404,700

International

Game

Technology

plc

10,287,474‌

25,000

(a)

Kura

Sushi

USA,

Inc

1,428,500‌

673,610

Laureate

Education,

Inc

9,524,845‌

29,390

Monarch

Casino

&

Resort,

Inc

1,768,984‌

433,550

(a)

OneSpaWorld

Holdings

Ltd

4,543,604‌

193,700

Perdoceo

Education

Corp

3,504,033‌

339,100

(a)

Portillo's,

Inc

5,069,545‌

807,690

(a)

Rover

Group,

Inc

5,209,601‌

55,810

Strategic

Education,

Inc

4,593,721‌

168,270

(a)

Stride,

Inc

9,251,485‌

49,750

Texas

Roadhouse,

Inc

(Class

A)

5,051,615‌

98,200

(a)

Xponential

Fitness,

Inc

1,401,314‌

TOTAL

CONSUMER

SERVICES

97,105,794‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

0

.5

%

149,398

Andersons,

Inc

7,489,321‌

195,460

(a)

Chefs'

Warehouse,

Inc

3,719,604‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

11,208,925‌

ENERGY

-

9

.5

%

154,040

Ardmore

Shipping

Corp

2,047,192‌

325,330

California

Resources

Corp

17,109,105‌

285,160

ChampionX

Corp

8,782,928‌

95,930

Chesapeake

Energy

Corp

8,257,654‌

62,460

Chord

Energy

Corp

10,325,887‌

20,390

(b)

Civitas

Resources,

Inc

1,538,018‌

215,500

CVR

Energy,

Inc

7,057,625‌

324,940

Delek

US

Holdings,

Inc

8,562,169‌

86,790

(a)

Denbury,

Inc

7,714,763‌

496,780

(a)

Diamond

Offshore

Drilling,

Inc

6,165,040‌

374,030

(a)

Expro

Group

Holdings

NV

5,890,972‌

407,810

Golar

LNG

Ltd

9,147,178‌

282,050

(a)

Helix

Energy

Solutions

Group,

Inc

2,764,090‌

60,830

Helmerich

&

Payne,

Inc

2,407,043‌

491,320

Liberty

Energy,

Inc

9,679,004‌

496,280

Magnolia

Oil

&

Gas

Corp

11,141,486‌

469,950

Murphy

Oil

Corp

21,086,656‌

825,550

(a),(b)

NextDecade

Corp

3,624,165‌

1,465,040

Nordic

American

Tankers

Ltd

6,724,534‌

343,912

(a)

Oceaneering

International,

Inc

7,562,625‌

413,729

(a)

Par

Pacific

Holdings,

Inc

13,578,586‌

226,616

PBF

Energy,

Inc

10,771,058‌

75

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

718,600

RPC,

Inc

$

5,978,752‌

209,060

(a)

Seadrill

Ltd

8,262,051‌

586,640

Select

Water

Solutions,

Inc

4,364,602‌

92,620

SM

Energy

Co

3,734,438‌

146,350

Teekay

Tankers

Ltd

7,273,595‌

241,820

Vitesse

Energy,

Inc

5,728,716‌

129,930

(a)

Weatherford

International

plc

12,095,184‌

TOTAL

ENERGY

229,375,116‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

6

.1

%

306,940

American

Assets

Trust,

Inc

5,448,185‌

619,110

Apple

Hospitality

REIT,

Inc

9,707,645‌

621,980

Broadstone

Net

Lease,

Inc

8,801,017‌

13,490

EastGroup

Properties,

Inc

2,202,243‌

803,440

Empire

State

Realty

Trust,

Inc

6,499,830‌

424,000

Essential

Properties

Realty

Trust,

Inc

9,306,800‌

279,150

Four

Corners

Property

Trust,

Inc

5,945,895‌

578,210

Global

Net

Lease,

Inc

4,590,987‌

1,014,900

Hudson

Pacific

Properties,

Inc

4,526,454‌

683,500

Independence

Realty

Trust,

Inc

8,468,565‌

325,100

Kite

Realty

Group

Trust

6,931,132‌

449,180

Lexington

Realty

Trust

3,553,014‌

254,960

Macerich

Co

2,478,211‌

422,190

Mack-Cali

Realty

Corp

5,653,124‌

351,910

(c)

Phillips

Edison

&

Co,

Inc

12,425,942‌

642,930

Piedmont

Office

Realty

Trust,

Inc

3,349,665‌

803,010

RLJ

Lodging

Trust

7,548,294‌

157,890

Ryman

Hospitality

Properties,

Inc

13,515,384‌

663,690

Summit

Hotel

Properties,

Inc

3,743,212‌

831,030

Sunstone

Hotel

Investors,

Inc

7,728,579‌

483,460

Tanger

Factory

Outlet

Centers,

Inc

10,902,023‌

252,370

Urban

Edge

Properties

4,002,588‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

147,328,789‌

FINANCIAL

SERVICES

-

5

.5

%

135,470

A-Mark

Precious

Metals,

Inc

3,668,528‌

368,370

Apollo

Commercial

Real

Estate

Finance,

Inc

3,668,965‌

256,690

Artisan

Partners

Asset

Management,

Inc

8,470,770‌

1,891,740

BGC

Group,

Inc

11,104,514‌

173,080

Enact

Holdings,

Inc

4,770,085‌

145,031

(a)

Enova

International,

Inc

5,783,836‌

281,610

Essent

Group

Ltd

13,303,256‌

237,390

(a)

Flywire

Corp

6,383,417‌

346,560

(a)

Green

Dot

Corp

3,874,541‌

634,870

MFA

Financial,

Inc

5,643,994‌

417,415

Navient

Corp

6,641,073‌

383,305

(a)

NMI

Holdings,

Inc

10,483,392‌

1,470,550

(a)

Payoneer

Global,

Inc

8,514,484‌

368,260

Radian

Group,

Inc

9,331,708‌

208,700

(a)

Remitly

Global,

Inc

5,620,291‌

677,290

(a)

Repay

Holdings

Corp

4,056,967‌

930,370

(a)

StoneCo

Ltd

9,224,619‌

187,100

Victory

Capital

Holdings,

Inc

5,511,966‌

39,760

Virtus

Investment

Partners,

Inc

7,324,985‌

TOTAL

FINANCIAL

SERVICES

133,381,391‌

FOOD,

BEVERAGE

&

TOBACCO

-

2

.2

%

111,312

Calavo

Growers,

Inc

2,820,646‌

155,400

Cal-Maine

Foods,

Inc

7,041,174‌

12,750

Coca-Cola

Consolidated

Inc

8,114,228‌

357,176

(a)

Hostess

Brands,

Inc

11,929,678‌

14,570

Lancaster

Colony

Corp

2,464,807‌

109,470

(a)

National

Beverage

Corp

5,077,219‌

Quant

Small-Cap

Equity

Fund

October

31,

2023

76

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

608,840

Primo

Water

Corp

$

7,951,450‌

326,900

(a)

Sovos

Brands,

Inc

7,096,999‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

52,496,201‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

5

.3

%

441,890

(a)

Alphatec

Holdings,

Inc

4,056,550‌

105,850

(a)

Angiodynamics,

Inc

656,270‌

191,110

(a)

AtriCure,

Inc

6,620,050‌

181,360

(a)

Guardant

Health,

Inc

4,693,597‌

225,000

(a)

Health

Catalyst,

Inc

1,685,250‌

126,424

HealthStream,

Inc

3,211,170‌

1,065,600

(a)

Hims

&

Hers

Health,

Inc

6,372,288‌

166,370

(a)

Inari

Medical,

Inc

10,100,323‌

263,110

(a)

Inmode

Ltd

5,025,401‌

63,450

(a)

Integer

Holdings

Corp

5,150,237‌

193,857

(a)

Lantheus

Holdings,

Inc

12,523,162‌

198,550

(a)

LivaNova

plc

9,738,878‌

32,130

(a)

ModivCare,

Inc

1,357,171‌

192,410

(a)

NextGen

Healthcare,

Inc

4,602,447‌

448,880

(a)

Option

Care

Health,

Inc

12,447,442‌

227,740

(a)

Owens

&

Minor,

Inc

3,263,514‌

314,950

Patterson

Cos,

Inc

9,593,377‌

270,640

(a)

Progyny,

Inc

8,351,950‌

220,690

(a)

RxSight,

Inc

4,886,077‌

302,110

Select

Medical

Holdings

Corp

6,866,960‌

22,620

(a)

Shockwave

Medical,

Inc

4,665,601‌

216,210

(a)

Zimvie,

Inc

1,526,443‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

127,394,158‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.5

%

388,280

(a)

BellRing

Brands,

Inc

16,979,484‌

201,390

(a)

elf

Beauty,

Inc

18,654,756‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

35,634,240‌

INSURANCE

-

1

.7

%

137,630

American

Equity

Investment

Life

Holding

Co

7,288,885‌

289,160

(a)

BRP

Group,

Inc

6,052,119‌

111,590

Employers

Holdings,

Inc

4,240,420‌

134,760

F&G

Annuities

&

Life,

Inc

4,135,785‌

97,020

(a)

Goosehead

Insurance,

Inc

6,293,687‌

44,230

(a)

Palomar

Holdings,

Inc

2,215,038‌

111,200

Selective

Insurance

Group,

Inc

11,577,032‌

TOTAL

INSURANCE

41,802,966‌

MATERIALS

-

3

.7

%

162,700

Carpenter

Technology

Corp

10,204,544‌

272,570

Commercial

Metals

Co

11,526,985‌

367,990

(a)

Constellium

SE

5,814,242‌

73,120

Innospec,

Inc

7,165,760‌

77,890

Materion

Corp

7,553,772‌

148,690

Minerals

Technologies,

Inc

8,038,181‌

645,000

(a)

O-I

Glass,

Inc

9,965,250‌

93,524

Olympic

Steel,

Inc

4,748,214‌

271,860

Orion

S.A.

5,518,758‌

671,490

(a)

Rayonier

Advanced

Materials,

Inc

1,860,027‌

224,930

Ryerson

Holding

Corp

6,534,217‌

338,100

(a)

Summit

Materials,

Inc

11,123,490‌

TOTAL

MATERIALS

90,053,440‌

MEDIA

&

ENTERTAINMENT

-

2

.5

%

106,120

(a)

Atlanta

Braves

Holdings,

Inc

3,690,853‌

412,540

(a)

Cardlytics,

Inc

5,111,370‌

223,950

(a)

Cars.com,

Inc

3,410,758‌

77

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

725,920

(a)

Eventbrite,

Inc

$

6,010,618‌

330,190

(a)

IMAX

Corp

6,012,760‌

464,100

(a)

Integral

Ad

Science

Holding

Corp

5,327,868‌

191,570

John

Wiley

&

Sons,

Inc

(Class

A)

5,798,824‌

734,760

(a)

Lions

Gate

Entertainment

Corp

(Class

B)

5,481,310‌

140,740

(a)

PubMatic,

Inc

1,586,140‌

109,600

Shutterstock,

Inc

4,458,528‌

759,710

(a)

Vimeo,

Inc

2,339,907‌

250,730

(a)

Yelp,

Inc

10,578,299‌

TOTAL

MEDIA

&

ENTERTAINMENT

59,807,235‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

8

.0

%

1,725,090

(a)

ADMA

Biologics,

Inc

5,830,804‌

442,200

(a)

Alkermes

plc

10,696,818‌

676,283

(a)

Amicus

Therapeutics,

Inc

7,418,824‌

180,100

(a)

Amphastar

Pharmaceuticals,

Inc

8,153,127‌

275,720

(a)

Amylyx

Pharmaceuticals,

Inc

4,496,993‌

101,090

(a)

ANI

Pharmaceuticals,

Inc

6,241,297‌

387,420

(a)

Arcus

Biosciences,

Inc

6,086,368‌

1,335,550

(a)

Ardelyx,

Inc

5,275,422‌

196,890

(a)

Arvinas,

Inc

3,173,867‌

755,870

(a),(b)

Aurinia

Pharmaceuticals,

Inc

5,548,086‌

889,770

(a)

BioCryst

Pharmaceuticals,

Inc

4,884,837‌

21,617

(a)

Blueprint

Medicines

Corp

1,272,377‌

652,001

(a)

Codexis,

Inc

1,082,322‌

650,410

(a)

Coherus

Biosciences,

Inc

2,178,873‌

217,210

(a)

Day

One

Biopharmaceuticals,

Inc

2,569,594‌

408,730

(a)

Deciphera

Pharmaceuticals,

Inc

4,900,673‌

601,380

(a)

Dynavax

Technologies

Corp

8,545,610‌

400,200

(a)

Editas

Medicine,

Inc

2,673,336‌

454,030

(a)

Evolus,

Inc

3,450,628‌

268,410

(a)

Halozyme

Therapeutics,

Inc

9,091,047‌

190,763

(a)

Harmony

Biosciences

Holdings,

Inc

4,490,561‌

811,970

(a)

Immunogen,

Inc

12,065,874‌

261,300

(a)

Immunovant,

Inc

8,635,965‌

172,270

(a)

Intercept

Pharmaceuticals,

Inc

3,261,071‌

45,354

(a)

Intra-Cellular

Therapies,

Inc

2,256,815‌

523,550

(a)

Iovance

Biotherapeutics,

Inc

1,999,961‌

621,080

(a)

Ironwood

Pharmaceuticals,

Inc

5,571,088‌

325,780

(a)

Kiniksa

Pharmaceuticals

Ltd

4,968,145‌

397,740

(a)

MacroGenics,

Inc

2,076,203‌

227,310

(a)

Mirum

Pharmaceuticals,

Inc

6,235,113‌

303,700

(a)

NGM

Biopharmaceuticals,

Inc

258,115‌

339,610

(a)

Nurix

Therapeutics,

Inc

1,898,420‌

781,590

(a)

Ocular

Therapeutix,

Inc

2,227,531‌

136,224

Phibro

Animal

Health

Corp

1,487,566‌

209,690

(a)

Protagonist

Therapeutics,

Inc

3,048,893‌

240,010

(a)

Quanterix

Corp

5,213,017‌

192,140

(a)

Revance

Therapeutics,

Inc

1,515,985‌

1,879,010

(a)

Rigel

Pharmaceuticals,

Inc

1,516,925‌

305,430

(a)

Travere

Therapeutics,

Inc

1,979,186‌

304,110

(a)

Veracyte,

Inc

6,301,159‌

228,170

(a)

Vericel

Corp

8,027,021‌

12,280

(a)

Vertex

Pharmaceuticals,

Inc

4,446,711‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

193,052,228‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

3

.0

%

83,330

(a)

Axcelis

Technologies,

Inc

10,624,575‌

397,650

(a)

Credo

Technology

Group

Holding

Ltd

5,654,583‌

131,150

(a)

Diodes,

Inc

8,535,242‌

182,420

Kulicke

&

Soffa

Industries,

Inc

7,590,496‌

29,527

(a)

Lattice

Semiconductor

Corp

1,641,996‌

270,510

(a)

MaxLinear,

Inc

4,111,752‌

Quant

Small-Cap

Equity

Fund

October

31,

2023

78

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

432,890

(a),(b)

Navitas

Semiconductor

Corp

$

2,268,344‌

135,930

(a)

PDF

Solutions,

Inc

3,606,223‌

420,290

(a)

Photronics,

Inc

7,716,524‌

280,020

(a)

Rambus,

Inc

15,213,487‌

238,650

(a)

Veeco

Instruments,

Inc

5,713,281‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

72,676,503‌

SOFTWARE

&

SERVICES

-

5

.9

%

125,870

(a)

Alkami

Technology,

Inc

2,259,366‌

310,340

(a)

Asana,

Inc

5,731,980‌

78,030

(a)

Blackbaud,

Inc

5,103,162‌

75,730

(a)

Brightcove,

Inc

233,248‌

116,460

(a)

Commvault

Systems,

Inc

7,610,661‌

340,650

(a)

EngageSmart,

Inc

7,715,722‌

179,360

(a)

Everbridge,

Inc

3,696,610‌

270,250

(a)

Fastly,

Inc

3,964,567‌

573,910

(a)

Freshworks,

Inc

10,295,945‌

166,990

(a)

Intapp,

Inc

5,711,058‌

292,140

(a)

LiveRamp

Holdings,

Inc

8,080,592‌

222,260

(a)

Model

N,

Inc

5,356,466‌

733,480

(a)

Olo,

Inc

3,748,083‌

49,475

Progress

Software

Corp

2,542,026‌

258,690

(a)

Q2

Holdings,

Inc

7,768,461‌

98,840

(a)

Qualys,

Inc

15,117,578‌

200,694

(a)

Rapid7,

Inc

9,330,264‌

503,610

(a)

Sprinklr,

Inc

6,844,060‌

105,380

(a)

Sprout

Social,

Inc

4,560,846‌

67,400

(a)

Squarespace,

Inc

1,914,834‌

99,490

(a)

Tenable

Holdings,

Inc

4,189,524‌

376,920

(a)

Varonis

Systems,

Inc

12,679,589‌

174,170

(a)

Verint

Systems,

Inc

3,276,138‌

250,390

(a)

Yext,

Inc

1,509,852‌

431,250

(a)

Zuora,

Inc

3,195,563‌

TOTAL

SOFTWARE

&

SERVICES

142,436,195‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

4

.1

%

165,580

Belden

CDT,

Inc

11,739,622‌

967,000

(a)

CommScope

Holding

Co,

Inc

1,431,160‌

346,480

(a)

Extreme

Networks,

Inc

7,144,417‌

54,800

(a)

Fabrinet

8,494,000‌

45,903

(a)

OSI

Systems,

Inc

4,786,306‌

350,361

(a)

Sanmina

Corp

17,822,864‌

94,262

(a)

Scansource,

Inc

2,865,565‌

108,090

(a)

Super

Micro

Computer,

Inc

25,884,312‌

477,370

Vishay

Intertechnology,

Inc

10,616,709‌

42,139

(a)

Vishay

Precision

Group,

Inc

1,260,799‌

489,780

Xerox

Holdings

Corp

6,288,775‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

98,334,529‌

TELECOMMUNICATION

SERVICES

-

0

.9

%

288,620

(a)

Bandwidth,

Inc

3,062,258‌

259,330

(a)

EchoStar

Corp

(Class

A)

3,594,314‌

2,532,500

(a),(b)

Globalstar,

Inc

3,570,825‌

81,340

Iridium

Communications,

Inc

3,013,647‌

458,580

Telephone

and

Data

Systems,

Inc

8,341,570‌

TOTAL

TELECOMMUNICATION

SERVICES

21,582,614‌

TRANSPORTATION

-

1

.6

%

12,372

ArcBest

Corp

1,347,063‌

433,940

Costamare,

Inc

3,918,478‌

119,476

Forward

Air

Corp

7,695,449‌

660,780

(a)

Hawaiian

Holdings,

Inc

2,781,884‌

37,789

(a)

Hub

Group,

Inc

(Class

A)

2,597,994‌

79

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TRANSPORTATION—continued

106,410

(a)

RXO,

Inc

$

1,863,239‌

12,660

(a)

Saia,

Inc

4,538,484‌

233,420

(a)

Skywest,

Inc

9,843,321‌

258,540

(a)

Sun

Country

Airlines

Holdings,

Inc

3,366,191‌

TOTAL

TRANSPORTATION

37,952,103‌

UTILITIES

-

2

.8

%

186,150

Allete,

Inc

9,966,471‌

271,970

Avista

Corp

8,618,729‌

212,288

Black

Hills

Corp

10,264,125‌

254,119

Brookfield

Infrastructure

Corp

6,546,106‌

169,600

Northwest

Natural

Holding

Co

6,226,016‌

148,180

ONE

Gas,

Inc

8,950,072‌

147,210

Otter

Tail

Corp

11,326,337‌

70,451

Portland

General

Electric

Co

2,819,449‌

73,360

Unitil

Corp

3,350,351‌

TOTAL

UTILITIES

68,067,656‌

TOTAL

COMMON

STOCKS

2,371,078,810‌

(Cost

$2,277,656,922)

TOTAL

LONG-TERM

INVESTMENTS

2,371,078,810‌

(Cost

$2,277,656,922)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

1.6%

GOVERNMENT

AGENCY

DEBT

-

0

.4

%

$

5,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

12/12/23

4,970,679‌

5,000,000

FHLB

0

.000

01/05/24

4,953,467‌

TOTAL

GOVERNMENT

AGENCY

DEBT

9,924,146‌

REPURCHASE

AGREEMENT

-

0

.7

%

16,087,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

16,087,000‌

TOTAL

REPURCHASE

AGREEMENT

16,087,000‌

TREASURY

DEBT

-

0

.5

%

2,000,000

United

States

Treasury

Bill

0

.000

11/02/23

1,999,708‌

5,000,000

United

States

Treasury

Bill

0

.000

11/07/23

4,995,600‌

6,500,000

United

States

Treasury

Bill

0

.000

11/14/23

6,487,586‌

TOTAL

TREASURY

DEBT

13,482,894‌

TOTAL

SHORT-TERM

INVESTMENTS

39,494,040‌

(Cost

$39,491,775)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.7%

17,561,048

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

17,561,048‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

17,561,048‌

(Cost

$17,561,048)

TOTAL

INVESTMENTS

-

100.6%

2,428,133,898‌

(Cost

$2,334,709,745)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.6)%

(

14,794,658‌

)

NET

ASSETS

-

100.0%

$

2,413,339,240‌

REIT

Real

Estate

Investment

Trust

Quant

Small-Cap

Equity

Fund

October

31,

2023

80

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$22,842,486.

(c)

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$16,087,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.875%

and

maturity

date

5/15/32,

valued

at

$16,408,797.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

Russell

2000

E

Mini

Index

300‌

12/15/23

 $

26,896,153‌

$

25,026,000‌

$

(

1,870,153‌

)

Portfolio

of

Investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2023

81

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.7%

COMMON

STOCKS

-

99.7%

AUTOMOBILES

&

COMPONENTS

-

1

.3

%

97,190

(a)

Adient

plc

$

3,274,331‌

193,110

Dana

Inc

2,216,903‌

86,569

(a)

Goodyear

Tire

&

Rubber

Co

1,030,171‌

19,580

Lear

Corp

2,540,701‌

70,145

(a)

Stoneridge,

Inc

1,141,259‌

26,050

(a)

Visteon

Corp

2,999,136‌

TOTAL

AUTOMOBILES

&

COMPONENTS

13,202,501‌

BANKS

-

5

.3

%

43,880

Ameris

Bancorp

1,636,724‌

93,572

(a)

Axos

Financial,

Inc

3,371,399‌

9,960

Bancfirst

Corp

807,856‌

108,178

Bank

of

NT

Butterfield

&

Son

Ltd

2,732,576‌

109,220

Bank

OZK

3,911,168‌

113,540

BankUnited,

Inc

2,476,308‌

70,302

Berkshire

Hills

Bancorp,

Inc

1,378,622‌

159,508

Capitol

Federal

Financial,

Inc

829,442‌

50,730

Cathay

General

Bancorp

1,720,254‌

82,844

Central

Pacific

Financial

Corp

1,307,278‌

32,202

Community

Bank

System,

Inc

1,286,470‌

59,920

CVB

Financial

Corp

935,950‌

88,570

East

West

Bancorp,

Inc

4,749,123‌

18,787

Enterprise

Financial

Services

Corp

653,224‌

102,008

First

BanCorp

1,361,807‌

108,730

First

Commonwealth

Financial

Corp

1,324,331‌

132,975

First

Financial

Bankshares,

Inc

3,198,049‌

86,288

First

Hawaiian,

Inc

1,547,144‌

68,570

International

Bancshares

Corp

3,005,423‌

85,026

National

Bank

Holdings

Corp

2,651,111‌

100,644

OFG

Bancorp

2,981,075‌

92,605

Old

National

Bancorp

1,268,689‌

62,040

Pacific

Premier

Bancorp,

Inc

1,178,760‌

72,774

Prosperity

Bancshares,

Inc

3,969,094‌

41,856

Renasant

Corp

1,020,868‌

33,240

Westamerica

Bancorporation

1,570,258‌

TOTAL

BANKS

52,873,003‌

CAPITAL

GOODS

-

18

.4

%

48,020

A.O.

Smith

Corp

3,349,875‌

15,106

Aecom

Technology

Corp

1,156,364‌

13,160

(a)

Aerovironment,

Inc

1,508,926‌

11,130

Alamo

Group,

Inc

1,784,139‌

12,470

Albany

International

Corp

(Class

A)

1,017,677‌

88,896

Allison

Transmission

Holdings,

Inc

4,482,136‌

196,536

(a)

API

Group

Corp

5,084,386‌

36,682

Applied

Industrial

Technologies,

Inc

5,631,054‌

49,460

Armstrong

World

Industries,

Inc

3,753,519‌

61,528

(a)

Atkore,

Inc

7,646,700‌

60,830

(a)

AZEK

Co,

Inc

1,593,746‌

60,665

Boise

Cascade

Co

5,687,344‌

41,905

(a)

Builders

FirstSource,

Inc

4,547,531‌

32,257

Comfort

Systems

USA,

Inc

5,865,935‌

81,220

(a)

Core

&

Main,

Inc

2,443,098‌

41,830

Crane

Co

4,071,314‌

13,220

Crane

NXT

Co

687,440‌

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2023

82

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

22,830

Curtiss-Wright

Corp

$

4,538,832‌

37,958

Donaldson

Co,

Inc

2,188,658‌

24,599

EMCOR

Group,

Inc

5,083,383‌

89,676

Enerpac

Tool

Group

Corp

2,537,831‌

39,870

EnerSys

3,412,075‌

14,593

EnPro

Industries,

Inc

1,620,699‌

54,484

Esab

Corp

3,448,837‌

46,313

Federal

Signal

Corp

2,688,007‌

112,480

Flowserve

Corp

4,130,266‌

132,210

(a)

Fluor

Corp

4,401,271‌

37,173

(a)

Gibraltar

Industries,

Inc

2,262,349‌

73,570

Griffon

Corp

2,938,386‌

55,461

Howmet

Aerospace,

Inc

2,445,830‌

61,073

ITT,

Inc

5,701,165‌

281,537

(a)

Janus

International

Group,

Inc

2,635,186‌

92,583

(a)

Kratos

Defense

&

Security

Solutions,

Inc

1,578,540‌

7,910

Lennox

International,

Inc

2,930,971‌

239,543

(a)

MRC

Global,

Inc

2,517,597‌

256,077

(a)

NOW,

Inc

2,821,969‌

137,017

nVent

Electric

plc

6,594,628‌

46,150

Oshkosh

Corp

4,048,739‌

62,150

(a)

Parsons

Corp

3,514,582‌

97,192

Pentair

plc

5,648,799‌

12,057

Quanta

Services,

Inc

2,014,966‌

85,455

Rush

Enterprises,

Inc

(Class

A)

3,040,489‌

6,201

Snap-On,

Inc

1,599,486‌

45,934

(a)

SPX

Technologies,

Inc

3,680,232‌

49,522

Textron,

Inc

3,763,672‌

53,388

(a)

Titan

Machinery,

Inc

1,326,158‌

238,172

(a)

Triumph

Group,

Inc

1,776,763‌

43,030

UFP

Industries,

Inc

4,095,165‌

22,705

(a)

V2X,

Inc

1,159,544‌

21,347

Veritiv

Corp

3,616,395‌

264,970

Vertiv

Holdings

Co

10,405,372‌

140,725

Wabash

National

Corp

2,911,600‌

6,978

WESCO

International,

Inc

894,580‌

37,320

Woodward

Inc

4,653,804‌

TOTAL

CAPITAL

GOODS

184,938,010‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

2

.7

%

128,880

(a)

ACV

Auctions,

Inc

1,717,970‌

158,475

(a)

ARAMARK

Uniform

Services

2,423,083‌

54,416

Booz

Allen

Hamilton

Holding

Corp

6,526,111‌

22,371

Brink's

Co

1,495,725‌

72,315

(a)

ExlService

Holdings,

Inc

1,888,145‌

34,555

Insperity,

Inc

3,657,301‌

57,178

Kforce,

Inc

3,490,145‌

24,855

Tetra

Tech,

Inc

3,750,868‌

220,790

(a)

Upwork,

Inc

2,307,256‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

27,256,604‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

2

.1

%

327,037

(a)

CarParts.com,

Inc

925,515‌

114,110

(a),(b)

GameStop

Corp

(Class

A)

1,571,295‌

15,168

Murphy

USA,

Inc

5,501,282‌

61,964

(a)

ODP

Corp

2,783,423‌

56,510

Sonic

Automotive,

Inc

(Class

A)

2,704,003‌

694,700

(a)

Stitch

Fix,

Inc

2,278,616‌

105,650

(a)

Urban

Outfitters,

Inc

3,657,603‌

150,200

(a)

Warby

Parker,

Inc

1,949,596‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

21,371,333‌

83

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL

-

2

.4

%

98,374

(a)

G-III

Apparel

Group

Ltd

$

2,513,456‌

27,640

Installed

Building

Products,

Inc

3,086,559‌

48,600

Kontoor

Brands,

Inc

2,257,470‌

22,170

Pulte

Homes,

Inc

1,631,490‌

89,290

Steven

Madden

Ltd

2,927,819‌

121,619

Tapestry,

Inc

3,351,820‌

24,028

(a)

TopBuild

Corp

5,496,645‌

440,156

(a)

Under

Armour,

Inc

(Class

A)

3,015,068‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

24,280,327‌

CONSUMER

SERVICES

-

4

.0

%

107,580

Aramark

2,897,129‌

217,128

(a)

Denny's

Corp

1,871,643‌

24,873

(a)

Duolingo,

Inc

3,632,702‌

176,388

(a)

Everi

Holdings,

Inc

1,903,227‌

106,950

(a)

Frontdoor,

Inc

3,094,063‌

125,367

H&R

Block,

Inc

5,146,315‌

148,857

International

Game

Technology

plc

3,783,945‌

214,730

Laureate

Education,

Inc

3,036,282‌

40,820

Strategic

Education,

Inc

3,359,894‌

43,838

Texas

Roadhouse,

Inc

(Class

A)

4,451,311‌

169,130

Wendy's

Co

3,216,853‌

29,810

Wyndham

Hotels

&

Resorts,

Inc

2,158,244‌

15,100

Wynn

Resorts

Ltd

1,325,478‌

TOTAL

CONSUMER

SERVICES

39,877,086‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.7

%

58,445

Albertsons

Cos,

Inc

1,268,257‌

60,710

Andersons,

Inc

3,043,392‌

73,988

(a)

Chefs'

Warehouse,

Inc

1,407,992‌

85,766

(a)

Performance

Food

Group

Co

4,953,844‌

95,657

(a)

United

Natural

Foods,

Inc

1,394,679‌

131,511

(a)

US

Foods

Holding

Corp

5,121,038‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

17,189,202‌

ENERGY

-

6

.4

%

131,000

Archrock,

Inc

1,659,770‌

78,780

California

Resources

Corp

4,143,040‌

5,472

Chevron

Corp

797,435‌

5,900

Chord

Energy

Corp

975,388‌

96,810

Delek

US

Holdings,

Inc

2,550,943‌

22,835

(a)

Denbury,

Inc

2,029,803‌

232,875

(a)

Diamond

Offshore

Drilling,

Inc

2,889,979‌

25,810

(a)

Gulfport

Energy

Operating

Corp

3,190,374‌

186,338

Liberty

Energy,

Inc

3,670,859‌

155,510

Magnolia

Oil

&

Gas

Corp

3,491,199‌

99,310

Murphy

Oil

Corp

4,456,040‌

157,283

(a)

Par

Pacific

Holdings,

Inc

5,162,028‌

171,639

PBF

Energy,

Inc

8,158,002‌

45,700

(a)

Seadrill

Ltd

1,806,064‌

69,820

SM

Energy

Co

2,815,142‌

598,313

(a)

Southwestern

Energy

Co

4,265,972‌

100,790

Vitesse

Energy,

Inc

2,387,715‌

74,388

(a)

Weatherford

International

plc

6,924,779‌

140,358

World

Fuel

Services

Corp

2,596,623‌

TOTAL

ENERGY

63,971,155‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

6

.7

%

141,857

Acadia

Realty

Trust

2,031,392‌

36,240

Agree

Realty

Corp

2,027,266‌

91,022

Alexander

&

Baldwin,

Inc

1,438,148‌

128,110

American

Assets

Trust,

Inc

2,273,953‌

128,330

American

Homes

4

Rent

4,201,524‌

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2023

84

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)—continued

124,800

Americold

Realty

Trust,

Inc

$

3,272,256‌

112,759

Apartment

Income

REIT

Corp

3,293,690‌

127,808

Brixmor

Property

Group,

Inc

2,657,128‌

15,141

Camden

Property

Trust

1,285,168‌

169,010

CareTrust

REIT,

Inc

3,637,095‌

17,950

EastGroup

Properties,

Inc

2,930,338‌

49,895

EPR

Properties

2,130,517‌

108,200

Essential

Properties

Realty

Trust,

Inc

2,374,990‌

63,149

First

Industrial

Realty

Trust,

Inc

2,671,203‌

107,957

Gaming

and

Leisure

Properties,

Inc

4,900,168‌

164,420

Kite

Realty

Group

Trust

3,505,434‌

262,320

Lexington

Realty

Trust

2,074,951‌

169,390

Mack-Cali

Realty

Corp

2,268,132‌

69,644

National

Retail

Properties,

Inc

2,530,167‌

58,490

Omega

Healthcare

Investors,

Inc

1,936,019‌

182,367

Piedmont

Office

Realty

Trust,

Inc

950,132‌

51,166

Regency

Centers

Corp

3,083,263‌

30,260

Rexford

Industrial

Realty,

Inc

1,308,442‌

45,417

Ryman

Hospitality

Properties,

Inc

3,887,695‌

257,220

Sabra

Health

Care

REIT,

Inc

3,508,481‌

194,871

Service

Properties

Trust

1,412,815‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

67,590,367‌

FINANCIAL

SERVICES

-

7

.7

%

124,270

Ally

Financial,

Inc

3,006,091‌

135,290

BGC

Group,

Inc

794,152‌

132,544

Brightsphere

Investment

Group,

Inc

2,075,639‌

67,708

(a)

Cannae

Holdings,

Inc

1,107,026‌

25,058

Cboe

Global

Markets,

Inc

4,106,756‌

80,032

Essent

Group

Ltd

3,780,712‌

33,781

EVERTEC,

Inc

1,073,560‌

125,237

(a)

Flywire

Corp

3,367,623‌

28,470

Hamilton

Lane,

Inc

2,394,896‌

13,532

Intercontinental

Exchange,

Inc

1,453,878‌

100,460

Jackson

Financial,

Inc

3,687,886‌

123,900

Jefferies

Financial

Group,

Inc

3,987,102‌

55,800

Lazard

Ltd

(Class

A)

1,549,566‌

11,780

MarketAxess

Holdings,

Inc

2,517,975‌

149,110

(a)

Marqeta,

Inc

770,899‌

113,142

(a)

NMI

Holdings,

Inc

3,094,434‌

103,350

OneMain

Holdings,

Inc

3,713,365‌

593,920

(a)

Payoneer

Global,

Inc

3,438,797‌

231,470

(a)

Robinhood

Markets,

Inc

2,115,636‌

87,904

StepStone

Group,

Inc

2,487,683‌

21,860

(a)

StoneX

Group,

Inc

2,083,695‌

123,538

(a)

Toast,

Inc

1,975,373‌

78,000

(b)

Vanguard

Russell

2000

ETF

5,192,460‌

33,000

Vanguard

Small-Cap

ETF

5,875,650‌

35,060

Victory

Capital

Holdings,

Inc

1,032,868‌

149,802

Virtu

Financial,

Inc

2,769,839‌

32,660

Voya

Financial,

Inc

2,180,708‌

308,310

Western

Union

Co

3,480,820‌

118,760

XP,

Inc

2,375,200‌

TOTAL

FINANCIAL

SERVICES

77,490,289‌

FOOD,

BEVERAGE

&

TOBACCO

-

1

.1

%

32,800

Ingredion,

Inc

3,069,424‌

31,238

Lamb

Weston

Holdings,

Inc

2,805,173‌

83,850

(a)

Pilgrim's

Pride

Corp

2,138,175‌

259,655

Primo

Water

Corp

3,391,094‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

11,403,866‌

85

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

4

.5

%

155,830

(a)

Accolade,

Inc

$

1,012,895‌

190,365

(a)

Allscripts

Healthcare

Solutions,

Inc

2,510,914‌

67,200

(a)

AtriCure,

Inc

2,327,808‌

58,636

(a)

Axonics,

Inc

3,002,750‌

109,359

(a)

Cross

Country

Healthcare,

Inc

2,532,755‌

48,420

(a)

Envista

Holdings

Corp

1,126,733‌

102,830

(a)

Guardant

Health,

Inc

2,661,240‌

411,014

(a)

Hims

&

Hers

Health,

Inc

2,457,864‌

19,690

(a)

Inari

Medical,

Inc

1,195,380‌

66,040

(a)

LivaNova

plc

3,239,262‌

55,806

(a)

Merit

Medical

Systems,

Inc

3,836,104‌

124,174

(a)

Option

Care

Health,

Inc

3,443,345‌

92,870

(a)

Owens

&

Minor,

Inc

1,330,827‌

110,043

Patterson

Cos,

Inc

3,351,910‌

42,897

(a)

Phreesia,

Inc

585,973‌

71,330

(a)

Privia

Health

Group,

Inc

1,499,357‌

98,253

(a)

Progyny,

Inc

3,032,088‌

17,850

(a)

Shockwave

Medical,

Inc

3,681,741‌

131,610

(a)

Teladoc

Health,

Inc

2,176,829‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

45,005,775‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.1

%

121,935

(a)

BellRing

Brands,

Inc

5,332,218‌

39,826

(a)

elf

Beauty,

Inc

3,689,082‌

23,577

Medifast,

Inc

1,630,585‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

10,651,885‌

INSURANCE

-

4

.1

%

57,940

Assured

Guaranty

Ltd

3,615,456‌

69,637

Axis

Capital

Holdings

Ltd

3,976,273‌

51,903

Brown

&

Brown,

Inc

3,603,106‌

69,089

CNO

Financial

Group,

Inc

1,601,483‌

20,050

Everest

Re

Group

Ltd

7,932,181‌

26,650

Globe

Life,

Inc

3,100,994‌

39,170

(a)

Goosehead

Insurance,

Inc

2,540,958‌

153,552

Lincoln

National

Corp

3,342,827‌

461,140

(a)

Oscar

Health,

Inc

2,361,037‌

11,150

Reinsurance

Group

of

America,

Inc

(Class

A)

1,666,590‌

21,520

RenaissanceRe

Holdings

Ltd

4,725,577‌

13,850

Selective

Insurance

Group,

Inc

1,441,924‌

966

White

Mountains

Insurance

Group

Ltd

1,382,104‌

TOTAL

INSURANCE

41,290,510‌

MATERIALS

-

4

.2

%

77,220

Berry

Global

Group,

Inc

4,247,100‌

69,890

Carpenter

Technology

Corp

4,383,501‌

80,680

Compass

Minerals

International,

Inc

1,987,955‌

248,337

(a)

Constellium

SE

3,923,724‌

123,486

Element

Solutions,

Inc

2,251,150‌

23,236

Innospec,

Inc

2,277,128‌

51,371

Minerals

Technologies,

Inc

2,777,116‌

5,757

Reliance

Steel

&

Aluminum

Co

1,464,466‌

32,505

Royal

Gold,

Inc

3,391,247‌

96,670

Ryerson

Holding

Corp

2,808,263‌

253,318

SSR

Mining,

Inc

3,516,054‌

120,059

(a)

Summit

Materials,

Inc

3,949,941‌

89,208

Valvoline,

Inc

2,646,801‌

49,098

Worthington

Industries,

Inc

3,025,419‌

TOTAL

MATERIALS

42,649,865‌

MEDIA

&

ENTERTAINMENT

-

1

.7

%

92,120

(a)

Bumble,

Inc

1,238,093‌

45,390

(a)

Cardlytics,

Inc

562,382‌

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2023

86

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

603,515

(a)

Clear

Channel

Outdoor

Holdings,

Inc

$

663,866‌

229,839

(a)

Eventbrite,

Inc

1,903,067‌

61,790

Gray

Television,

Inc

402,871‌

97,850

(a)

Integral

Ad

Science

Holding

Corp

1,123,318‌

41,346

(a)

Liberty

Media

Corp-Liberty

Formula

One

2,674,673‌

132,800

(a)

Liberty

Media

Corp-Liberty

SiriusXM

3,260,240‌

22,372

(a)

LIBERTY

MEDIA

CORP-LIBERTY-C

712,995‌

162,156

(a)

Lions

Gate

Entertainment

Corp

(Class

A)

1,274,546‌

79,714

(a)

Yelp,

Inc

3,363,134‌

TOTAL

MEDIA

&

ENTERTAINMENT

17,179,185‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

6

.1

%

72,700

(a)

89bio,

Inc

537,980‌

134,680

(a)

Alkermes

plc

3,257,909‌

85,410

(a)

Amylyx

Pharmaceuticals,

Inc

1,393,037‌

164,485

(a)

Aurinia

Pharmaceuticals,

Inc

1,207,320‌

49,940

(a),(b)

Axsome

Therapeutics,

Inc

3,110,263‌

37,770

Bruker

BioSciences

Corp

2,152,890‌

214,435

(a)

Codexis,

Inc

355,962‌

155,456

(a)

Deciphera

Pharmaceuticals,

Inc

1,863,917‌

187,950

(a)

Dynavax

Technologies

Corp

2,670,770‌

302,820

(a)

Elanco

Animal

Health,

Inc

2,667,844‌

76,695

(a)

Exact

Sciences

Corp

4,723,645‌

149,150

(a)

Exelixis,

Inc

3,070,999‌

99,902

(a)

Halozyme

Therapeutics,

Inc

3,383,681‌

62,310

(a)

Ideaya

Biosciences,

Inc

1,692,963‌

142,353

(a)

Innoviva,

Inc

1,766,601‌

47,750

(a)

Intra-Cellular

Therapies,

Inc

2,376,040‌

13,230

(a)

Medpace

Holdings,

Inc

3,210,524‌

71,600

(a)

Natera,

Inc

2,826,052‌

52,310

(a)

Neurocrine

Biosciences,

Inc

5,803,271‌

118,717

(a)

QIAGEN

NV

4,443,577‌

24,881

(a)

Sarepta

Therapeutics,

Inc

1,674,740‌

45,536

(a)

Supernus

Pharmaceuticals,

Inc

1,086,034‌

15,320

(a)

United

Therapeutics

Corp

3,414,215‌

122,664

(a)

Veracyte,

Inc

2,541,598‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

61,231,832‌

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0

.6

%

364,560

(a)

Compass,

Inc

721,829‌

66,090

(b)

eXp

World

Holdings,

Inc

877,014‌

886,060

(a)

Opendoor

Technologies,

Inc

1,683,514‌

15,173

RMR

Group,

Inc

341,696‌

80,966

(a)

Zillow

Group,

Inc

(Class

A)

2,876,722‌

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

6,500,775‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

1

.5

%

113,499

(a)

Allegro

MicroSystems,

Inc

2,946,434‌

125,260

(a)

Credo

Technology

Group

Holding

Ltd

1,781,197‌

46,972

(a)

Formfactor,

Inc

1,591,411‌

87,340

(a)

Lattice

Semiconductor

Corp

4,856,978‌

186,837

(a)

Photronics,

Inc

3,430,327‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

14,606,347‌

SOFTWARE

&

SERVICES

-

8

.0

%

30,296

(a)

Alteryx,

Inc

969,775‌

66,087

Amdocs

Ltd

5,297,534‌

20,010

(a)

Appfolio,

Inc

3,753,276‌

95,360

(a)

AppLovin

Corp

3,474,918‌

33,490

(a)

Braze,

Inc

1,426,004‌

65,439

(a)

Domo,

Inc

533,982‌

88,360

(a)

Dynatrace,

Inc

3,950,576‌

58,432

(a)

Elastic

NV

4,384,737‌

87

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

128,640

(a)

EngageSmart,

Inc

$

2,913,696‌

81,730

(a)

Everbridge,

Inc

1,684,455‌

45,670

(a)

Five9,

Inc

2,642,923‌

69,489

Gen

Digital,

Inc

1,157,687‌

3,998

(a)

Globant

S.A.

680,819‌

181,621

(a)

Kyndryl

Holdings,

Inc

2,657,115‌

84,530

(a)

LiveRamp

Holdings,

Inc

2,338,100‌

27,398

(a)

Manhattan

Associates,

Inc

5,342,062‌

155,545

(a)

Nutanix,

Inc

5,629,174‌

24,017

(a)

Paylocity

Holding

Corp

4,308,650‌

63,100

(a)

Q2

Holdings,

Inc

1,894,893‌

152,720

(a)

SentinelOne,

Inc

2,387,014‌

89,660

(a)

Smartsheet,

Inc

3,545,156‌

172,970

(a)

Sprinklr,

Inc

2,350,662‌

15,094

(a)

SPS

Commerce,

Inc

2,420,172‌

101,250

(a)

Squarespace,

Inc

2,876,512‌

97,511

(a)

Teradata

Corp

4,165,670‌

45,970

(a)

UiPath,

Inc

713,914‌

85,440

(a)

Varonis

Systems,

Inc

2,874,202‌

232,452

(a)

Zeta

Global

Holdings

Corp

1,813,126‌

336,497

(a)

Zuora,

Inc

2,493,443‌

TOTAL

SOFTWARE

&

SERVICES

80,680,247‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

3

.8

%

280,225

(a)

Arlo

Technologies,

Inc

2,379,110‌

42,812

Belden

CDT,

Inc

3,035,371‌

76,980

(a)

Calix,

Inc

2,549,577‌

161,051

(a)

Extreme

Networks,

Inc

3,320,872‌

24,596

(a)

Fabrinet

3,812,380‌

42,620

(a)

Itron,

Inc

2,441,274‌

29,843

Jabil

Inc

3,664,720‌

83,430

Napco

Security

Technologies,

Inc

1,532,609‌

64,140

(a)

Sanmina

Corp

3,262,802‌

23,464

(a)

Super

Micro

Computer,

Inc

5,618,924‌

39,900

SYNNEX

Corp

3,658,032‌

195,920

Xerox

Holdings

Corp

2,515,613‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

37,791,284‌

TELECOMMUNICATION

SERVICES

-

0

.5

%

53,670

Cogent

Communications

Group,

Inc

3,487,477‌

41,763

(a),(c)

GCI

Liberty,

Inc

418‌

41,930

Iridium

Communications,

Inc

1,553,506‌

TOTAL

TELECOMMUNICATION

SERVICES

5,041,401‌

TRANSPORTATION

-

1

.6

%

18,860

Forward

Air

Corp

1,214,773‌

83,039

(a)

GXO

Logistics,

Inc

4,194,300‌

44,094

(a)

Hub

Group,

Inc

(Class

A)

3,031,462‌

159,974

(a)

RXO,

Inc

2,801,145‌

41,522

Ryder

System,

Inc

4,050,056‌

48,755

Schneider

National,

Inc

1,234,964‌

TOTAL

TRANSPORTATION

16,526,700‌

UTILITIES

-

2

.2

%

55,589

Clearway

Energy,

Inc

(Class

A)

1,132,348‌

61,220

Clearway

Energy,

Inc

(Class

C)

1,329,086‌

15,262

MGE

Energy,

Inc

1,093,217‌

58,530

New

Jersey

Resources

Corp

2,375,148‌

47,873

Northwest

Natural

Holding

Co

1,757,418‌

137,540

NRG

Energy,

Inc

5,828,945‌

79,450

UGI

Corp

1,652,560‌

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2023

88

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

202,756

Vistra

Corp

$

6,634,176‌

TOTAL

UTILITIES

21,802,898‌

TOTAL

COMMON

STOCKS

1,002,402,447‌

(Cost

$921,363,439)

TOTAL

LONG-TERM

INVESTMENTS

1,002,402,447‌

(Cost

$921,363,439)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.1%

REPURCHASE

AGREEMENT

-

0

.1

%

$

1,066,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

%

11/01/23

1,066,000‌

TOTAL

REPURCHASE

AGREEMENT

1,066,000‌

TOTAL

SHORT-TERM

INVESTMENTS

1,066,000‌

(Cost

$1,066,000)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.3%

3,418,953

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

3,418,953‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

3,418,953‌

(Cost

$3,418,953)

TOTAL

INVESTMENTS

-

100.1%

1,006,887,400‌

(Cost

$925,848,392)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(

1,349,817‌

)

NET

ASSETS

-

100.0%

$

1,005,537,583‌

ETF

Exchange

Traded

Fund

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$7,499,636.

(c)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$1,066,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$1,087,421.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Portfolio

of

Investments

Social

Choice

Equity

Fund

October

31,

2023

89

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.7%

COMMON

STOCKS

-

99.7%

AUTOMOBILES

&

COMPONENTS

-

2

.1

%

164,977

(a)

American

Axle

&

Manufacturing

Holdings,

Inc

$

1,113,595‌

110,497

(a)

Aptiv

plc

9,635,338‌

74,371

(a)

Modine

Manufacturing

Co

2,937,655‌

298,899

(a),(b)

Rivian

Automotive,

Inc

4,848,142‌

474,485

(a)

Tesla,

Inc

95,295,567‌

TOTAL

AUTOMOBILES

&

COMPONENTS

113,830,297‌

BANKS

-

2

.2

%

1,694

Ameris

Bancorp

63,186‌

17,614

(a)

Bancorp,

Inc

627,939‌

47,422

Bank

OZK

1,698,182‌

3,518

Banner

Corp

148,495‌

47,884

Berkshire

Hills

Bancorp,

Inc

939,005‌

1,259

Cadence

Bank

26,666‌

3,985

Camden

National

Corp

116,202‌

830,296

Citigroup,

Inc

32,788,389‌

827

Columbia

Banking

System,

Inc

16,267‌

388

Commerce

Bancshares,

Inc

17,018‌

1,572

Community

Trust

Bancorp,

Inc

59,044‌

41,349

(a)

Customers

Bancorp,

Inc

1,662,643‌

10,587

First

Busey

Corp

210,258‌

1,130

FNB

Corp

12,080‌

540

Glacier

Bancorp,

Inc

16,303‌

1,279

Hancock

Whitney

Corp

44,036‌

3,902

Heritage

Financial

Corp

63,485‌

285,811

Huntington

Bancshares,

Inc

2,758,076‌

240,475

JPMorgan

Chase

&

Co

33,440,453‌

26,162

National

Bank

Holdings

Corp

815,731‌

310

NBT

Bancorp,

Inc

10,376‌

7,838

Old

National

Bancorp

107,381‌

205,551

PNC

Financial

Services

Group,

Inc

23,529,423‌

682,855

Regions

Financial

Corp

9,921,883‌

1,879

(a)

Texas

Capital

Bancshares,

Inc

103,458‌

3,796

Trico

Bancshares

122,801‌

310,653

Truist

Financial

Corp

8,810,119‌

350

Trustmark

Corp

7,038‌

2,167

UMB

Financial

Corp

135,914‌

17,523

Univest

Financial

Corp

291,933‌

1,553

Westamerica

Bancorporation

73,364‌

230

Wintrust

Financial

Corp

17,179‌

TOTAL

BANKS

118,654,327‌

CAPITAL

GOODS

-

6

.5

%

320,289

3M

Co

29,130,285‌

954

Acuity

Brands,

Inc

154,519‌

48,510

(a)

Axon

Enterprise,

Inc

9,919,810‌

419

(a)

Beacon

Roofing

Supply,

Inc

29,820‌

46,771

(a),(b)

Blink

Charging

Co

111,315‌

244,666

Carrier

Global

Corp

11,660,782‌

170,927

Caterpillar,

Inc

38,638,048‌

35,835

Cummins,

Inc

7,751,111‌

55,577

Curtiss-Wright

Corp

11,049,263‌

105,914

Deere

&

Co

38,696,739‌

180,177

Eaton

Corp

plc

37,460,600‌

1,365

EMCOR

Group,

Inc

282,077‌

Social

Choice

Equity

Fund

October

31,

2023

90

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

48,540

Emerson

Electric

Co

$

4,318,604‌

119,034

Fastenal

Co

6,944,444‌

99,730

Fortive

Corp

6,510,374‌

33,925

(a)

Generac

Holdings,

Inc

2,852,075‌

245

Granite

Construction,

Inc

9,918‌

98,162

(a)

Great

Lakes

Dredge

&

Dock

Corp

746,031‌

122,796

Hexcel

Corp

7,603,528‌

1,801

IDEX

Corp

344,729‌

158,674

Illinois

Tool

Works,

Inc

35,562,017‌

282,400

Johnson

Controls

International

plc

13,843,248‌

181,026

(a)

Kratos

Defense

&

Security

Solutions,

Inc

3,086,493‌

12,916

Luxfer

Holdings

plc

106,815‌

36,235

(a)

Manitowoc

Co,

Inc

463,808‌

171,085

Masco

Corp

8,911,818‌

72,232

(a)

Mercury

Computer

Systems,

Inc

2,598,907‌

7,159

Moog,

Inc

(Class

A)

830,802‌

10,546

(a)

MYR

Group,

Inc

1,221,543‌

6,412

Owens

Corning,

Inc

726,928‌

89,596

PACCAR,

Inc

7,394,358‌

38,104

(a)

Proto

Labs,

Inc

899,635‌

22,006

Quanta

Services,

Inc

3,677,643‌

37,955

Rockwell

Automation,

Inc

9,974,954‌

5,874

Rush

Enterprises,

Inc

(Class

A)

208,997‌

9,292

Snap-On,

Inc

2,396,779‌

69,059

Trane

Technologies

plc

13,142,618‌

96,471

(a)

Triumph

Group,

Inc

719,674‌

30,230

United

Rentals,

Inc

12,281,542‌

16,660

(a)

V2X,

Inc

850,826‌

13,236

W.W.

Grainger,

Inc

9,660,030‌

1,174

Wabash

National

Corp

24,290‌

36,655

Woodward

Inc

4,570,879‌

36,530

Xylem,

Inc

3,417,016‌

TOTAL

CAPITAL

GOODS

350,785,692‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

2

.3

%

540

ABM

Industries,

Inc

21,244‌

9,872

ACCO

Brands

Corp

49,952‌

970

(a)

ASGN,

Inc

80,956‌

165,402

Automatic

Data

Processing,

Inc

36,094,024‌

715,139

(a)

Copart,

Inc

31,122,849‌

16,323

CSG

Systems

International,

Inc

764,896‌

134,930

(a)

ExlService

Holdings,

Inc

3,523,022‌

36,384

(a)

FTI

Consulting,

Inc

7,722,868‌

4,282

Heidrick

&

Struggles

International,

Inc

104,224‌

188

Herman

Miller,

Inc

4,418‌

39,570

Kelly

Services,

Inc

(Class

A)

706,325‌

33,753

(a)

Liquidity

Services,

Inc

650,420‌

143,033

(a)

OPENLANE,

Inc

1,920,933‌

42,537

Robert

Half

International,

Inc

3,180,492‌

15,617

(a)

Sterling

Check

Corp

174,598‌

120,100

TransUnion

5,269,988‌

2,825

(a)

TriNet

Group,

Inc

290,269‌

66,536

(a)

Veralto

Corp

4,590,984‌

14,026

Verisk

Analytics,

Inc

3,188,951‌

145,676

Waste

Management,

Inc

23,938,937‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

123,400,350‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

1

.1

%

4,967

(a)

1-800-FLOWERS.COM,

Inc

(Class

A)

37,302‌

1,216

Aaron's

Co,

Inc

9,011‌

401

(a)

Autozone,

Inc

993,329‌

1,601

(a)

Carmax,

Inc

97,805‌

17,468

(a)

Children's

Place,

Inc

478,099‌

91

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL—continued

272,982

eBay,

Inc

$

10,709,084‌

6,360

(a)

Five

Below,

Inc

1,106,513‌

18,070

(a)

Genesco,

Inc

495,299‌

30,883

(a)

MarineMax,

Inc

845,577‌

3,574

Pool

Corp

1,128,562‌

25,111

Shoe

Carnival,

Inc

574,540‌

450,293

TJX

Cos,

Inc

39,657,304‌

15,754

Tractor

Supply

Co

3,033,590‌

860

Winmark

Corp

346,855‌

18,394

(a)

Zumiez,

Inc

302,213‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

59,815,083‌

CONSUMER

DURABLES

&

APPAREL

-

0

.5

%

396

Columbia

Sportswear

Co

29,225‌

24,632

(a)

Crocs,

Inc

2,200,130‌

6,559

(a)

Deckers

Outdoor

Corp

3,916,116‌

56,305

(a)

GoPro,

Inc

141,326‌

38,209

(a)

Green

Brick

Partners,

Inc

1,478,688‌

258

Hasbro,

Inc

11,649‌

23,776

(a)

iRobot

Corp

782,944‌

20,310

(a)

Lovesac

Co

334,303‌

27,336

(a)

Lululemon

Athletica,

Inc

10,756,169‌

1,560

(a)

NVR,

Inc

8,443,687‌

1,614

PVH

Corp

120,001‌

136,133

(a)

Sonos,

Inc

1,467,514‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

29,681,752‌

CONSUMER

SERVICES

-

2

.4

%

19,997

ADT,

Inc

113,183‌

13,979

(a)

Booking

Holdings,

Inc

38,995,259‌

33,683

(a)

Bright

Horizons

Family

Solutions,

Inc

2,494,563‌

20,071

Carriage

Services,

Inc

433,534‌

52,955

(a)

Dave

&

Buster's

Entertainment,

Inc

1,850,248‌

208,236

Hilton

Worldwide

Holdings,

Inc

31,554,001‌

28,107

(a)

Planet

Fitness,

Inc

1,553,474‌

3,259

(a)

Shake

Shack,

Inc

182,634‌

13,030

(a)

Six

Flags

Entertainment

Corp

259,297‌

406,410

Starbucks

Corp

37,487,258‌

15,238

Vail

Resorts,

Inc

3,234,266‌

18,734

Wingstop,

Inc

3,424,013‌

56,944

Yum!

Brands,

Inc

6,882,252‌

TOTAL

CONSUMER

SERVICES

128,463,982‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.1

%

171,958

(a)

BJ's

Wholesale

Club

Holdings,

Inc

11,713,779‌

81,080

(a)

Performance

Food

Group

Co

4,683,181‌

37,095

Pricesmart,

Inc

2,318,067‌

50,562

SpartanNash

Co

1,137,139‌

149,721

(a)

Sprouts

Farmers

Market,

Inc

6,291,276‌

218,871

Target

Corp

24,248,718‌

85,631

(a)

United

Natural

Foods,

Inc

1,248,500‌

249,841

(a)

US

Foods

Holding

Corp

9,728,809‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

61,369,469‌

ENERGY

-

5

.1

%

260,792

Antero

Midstream

Corp

3,218,173‌

109,730

APA

Corp

4,358,476‌

217,890

Baker

Hughes

Co

7,499,774‌

2,812

ChampionX

Corp

86,610‌

121,719

Cheniere

Energy,

Inc

20,256,476‌

204,131

Chevron

Corp

29,748,011‌

186,669

(a)

Clean

Energy

Fuels

Corp

651,475‌

375,990

ConocoPhillips

44,667,612‌

Social

Choice

Equity

Fund

October

31,

2023

92

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

2,207

Delek

US

Holdings,

Inc

$

58,154‌

129,245

Devon

Energy

Corp

6,018,940‌

26,828

(a)

DMC

Global,

Inc

508,391‌

42,040

(a)

Dril-Quip,

Inc

910,586‌

181,585

EOG

Resources,

Inc

22,925,106‌

211,025

EQT

Corp

8,943,239‌

96,629

Hess

Corp

13,953,228‌

950,369

Kinder

Morgan,

Inc

15,395,978‌

659,783

(a)

Kosmos

Energy

Ltd

4,776,829‌

104,672

Marathon

Petroleum

Corp

15,831,640‌

322,948

NOV,

Inc

6,446,042‌

12,097

(a)

Oceaneering

International,

Inc

266,013‌

19,522

ONEOK,

Inc

1,272,834‌

81,545

Pioneer

Natural

Resources

Co

19,489,255‌

451,718

Schlumberger

Ltd

25,142,624‌

155,913

Valero

Energy

Corp

19,800,951‌

57,936

(a)

Weatherford

International

plc

5,393,262‌

TOTAL

ENERGY

277,619,679‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2

.4

%

189,892

American

Tower

Corp

33,836,855‌

54,010

Brixmor

Property

Group,

Inc

1,122,868‌

50,569

Crown

Castle,

Inc

4,701,906‌

303,924

DiamondRock

Hospitality

Co

2,349,332‌

36,148

Equinix,

Inc

26,375,027‌

33,420

First

Industrial

Realty

Trust,

Inc

1,413,666‌

1,487

(a)

Howard

Hughes

Holdings,

Inc

98,633‌

4,739

Kilroy

Realty

Corp

135,441‌

147,412

Macerich

Co

1,432,845‌

255,691

Park

Hotels

&

Resorts,

Inc

2,948,117‌

6,352

PotlatchDeltic

Corp

272,183‌

321,390

(c)

Prologis,

Inc

32,380,042‌

297

Washington

REIT

3,790‌

177,561

Welltower,

Inc

14,845,875‌

238,457

Weyerhaeuser

Co

6,841,331‌

58,638

Xenia

Hotels

&

Resorts,

Inc

681,960‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

129,439,871‌

FINANCIAL

SERVICES

-

8

.8

%

250,576

American

Express

Co

36,591,613‌

60,154

Ameriprise

Financial,

Inc

18,922,644‌

502,214

Bank

of

New

York

Mellon

Corp

21,344,095‌

60,152

BlackRock,

Inc

36,829,867‌

280

Cohen

&

Steers,

Inc

14,627‌

179,000

Discover

Financial

Services

14,692,320‌

8,872

Factset

Research

Systems,

Inc

3,831,728‌

292,421

Fidelity

National

Information

Services,

Inc

14,360,795‌

128,072

Goldman

Sachs

Group,

Inc

38,883,940‌

9,333

(a)

Green

Dot

Corp

104,343‌

323,808

Intercontinental

Exchange,

Inc

34,789,932‌

180,435

Mastercard,

Inc

(Class

A)

67,906,712‌

78,034

Moody's

Corp

24,034,472‌

483,725

Morgan

Stanley

34,257,405‌

15,374

(a)

Mr

Cooper

Group,

Inc

869,092‌

68,637

Nasdaq

Stock

Market,

Inc

3,404,395‌

200,000

Nuveen

ESG

Large-Cap

ETF

6,924,300‌

378,807

(a)

PayPal

Holdings,

Inc

19,622,203‌

5,668

(a)

PRA

Group,

Inc

69,773‌

2,432

(a)

PROG

Holdings,

Inc

66,612‌

114,707

S&P

Global,

Inc

40,068,302‌

123,600

State

Street

Corp

7,988,268‌

59,312

T

Rowe

Price

Group,

Inc

5,367,736‌

168,092

Visa,

Inc

(Class

A)

39,518,429‌

93

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

25,591

Voya

Financial,

Inc

$

1,708,711‌

49,556

(a)

WEX,

Inc

8,250,083‌

TOTAL

FINANCIAL

SERVICES

480,422,397‌

FOOD,

BEVERAGE

&

TOBACCO

-

3

.2

%

70,442

Archer-Daniels-Midland

Co

5,041,534‌

48,343

Campbell

Soup

Co

1,953,541‌

974,429

Coca-Cola

Co

55,045,494‌

13,309

(a)

Darling

International,

Inc

589,456‌

35,374

Fresh

Del

Monte

Produce,

Inc

884,350‌

403,241

General

Mills,

Inc

26,307,443‌

186,845

Hormel

Foods

Corp

6,081,805‌

191,401

Lamb

Weston

Holdings,

Inc

17,187,810‌

70,056

McCormick

&

Co,

Inc

4,476,578‌

339,602

PepsiCo,

Inc

55,450,214‌

6,553

(a)

TreeHouse

Foods,

Inc

273,194‌

16,269

(a)

Vital

Farms,

Inc

179,935‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

173,471,354‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

5

.1

%

98,815

(a)

Accolade,

Inc

642,297‌

54,505

(a)

Angiodynamics,

Inc

337,931‌

7,715

(a)

AtriCure,

Inc

267,248‌

33,642

(a)

Axogen,

Inc

126,494‌

255,208

(a)

Brookdale

Senior

Living,

Inc

997,863‌

36,729

(a)

Castle

Biosciences,

Inc

573,707‌

265,552

(a)

Cerus

Corp

371,773‌

83,086

Cigna

Group

25,690,191‌

54,734

(a)

CryoLife,

Inc

697,311‌

181,090

(a)

DexCom,

Inc

16,086,225‌

73,290

(a)

DocGo,

Inc

435,343‌

370,002

(a)

Edwards

Lifesciences

Corp

23,576,527‌

89,712

Elevance

Health,

Inc

40,378,474‌

75,371

(a)

Enhabit,

Inc

555,484‌

141,106

(a)

Envista

Holdings

Corp

3,283,537‌

30,641

(a)

Fulgent

Genetics,

Inc

733,546‌

11,862

(a)

Globus

Medical,

Inc

542,212‌

100,160

HCA,

Inc

22,650,182‌

83,541

(a)

Health

Catalyst,

Inc

625,722‌

17,140

(a)

Henry

Schein,

Inc

1,113,757‌

92,217

(a)

Hologic,

Inc

6,101,999‌

49,662

(a)

IDEXX

Laboratories,

Inc

19,838,479‌

37,957

Laboratory

Corp

of

America

Holdings

7,581,152‌

25,670

LeMaitre

Vascular,

Inc

1,247,049‌

7,921

(a)

LivaNova

plc

388,525‌

36,789

(a)

Merit

Medical

Systems,

Inc

2,528,876‌

126,866

(a)

NeoGenomics,

Inc

1,778,661‌

53,154

(a)

Nevro

Corp

767,012‌

79,398

(a)

NextGen

Healthcare,

Inc

1,899,200‌

64,938

(a)

Omnicell,

Inc

2,307,897‌

571,723

(a),(b)

Opko

Health,

Inc

714,654‌

106,594

(a)

OraSure

Technologies,

Inc

550,025‌

52,634

(a)

Orthofix

Medical,

Inc

581,079‌

73,965

(a)

Outset

Medical,

Inc

261,836‌

14,111

(a)

Pennant

Group,

Inc

153,387‌

13,076

(a)

Penumbra,

Inc

2,499,477‌

54,891

(a)

Pulmonx

Corp

482,492‌

68,280

Resmed,

Inc

9,642,502‌

1,257

(a)

Shockwave

Medical,

Inc

259,269‌

50,222

(a)

SI-BONE,

Inc

854,276‌

20,651

(a)

STAAR

Surgical

Co

863,625‌

27,192

STERIS

plc

5,709,776‌

10,396

(a)

UFP

Technologies,

Inc

1,620,944‌

Social

Choice

Equity

Fund

October

31,

2023

94

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

126,404

UnitedHealth

Group,

Inc

$

67,696,926‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

276,014,942‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.7

%

260,833

Colgate-Palmolive

Co

19,593,775‌

8,893

Kimberly-Clark

Corp

1,063,958‌

490,718

Procter

&

Gamble

Co

73,622,422‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

94,280,155‌

INSURANCE

-

2

.4

%

689,408

(a)

Genworth

Financial,

Inc

(Class

A)

4,129,554‌

206,730

Marsh

&

McLennan

Cos,

Inc

39,206,345‌

245,742

Progressive

Corp

38,849,353‌

268,139

Prudential

Financial,

Inc

24,518,630‌

128,444

Travelers

Cos,

Inc

21,506,663‌

TOTAL

INSURANCE

128,210,545‌

MATERIALS

-

3

.0

%

24,197

(a)

Allegheny

Technologies,

Inc

913,921‌

15,724

Amcor

plc

139,786‌

10,332

Aptargroup,

Inc

1,263,294‌

351,159

Ball

Corp

16,908,306‌

41,035

(a)

Coeur

Mining,

Inc

102,998‌

98,034

Dow,

Inc

4,738,964‌

193,342

Ecolab,

Inc

32,431,187‌

945

H.B.

Fuller

Co

62,512‌

44,706

International

Flavors

&

Fragrances,

Inc

3,055,655‌

29,144

Koppers

Holdings,

Inc

1,065,796‌

134,875

Linde

plc

51,543,830‌

15,280

Martin

Marietta

Materials,

Inc

6,248,603‌

382,978

Newmont

Goldcorp

Corp

14,350,186‌

159,805

Nucor

Corp

23,617,581‌

6,884

Olympic

Steel,

Inc

349,501‌

19,087

PPG

Industries,

Inc

2,343,311‌

64,295

(a)

Ranpak

Holdings

Corp

203,172‌

9,950

Royal

Gold,

Inc

1,038,083‌

4,126

Schnitzer

Steel

Industries,

Inc

(Class

A)

93,701‌

147,465

(a)

Summit

Materials,

Inc

4,851,598‌

51,256

Trinseo

plc

317,275‌

TOTAL

MATERIALS

165,639,260‌

MEDIA

&

ENTERTAINMENT

-

3

.9

%

158,852

(a)

Cinemark

Holdings,

Inc

2,619,470‌

555,161

(a)

Clear

Channel

Outdoor

Holdings,

Inc

610,677‌

1,066,497

Comcast

Corp

(Class

A)

44,035,661‌

125,710

Electronic

Arts,

Inc

15,561,641‌

80,714

Gray

Television,

Inc

526,255‌

9,044

(a)

IMAX

Corp

164,691‌

104,365

Interpublic

Group

of

Cos,

Inc

2,963,966‌

13,563

John

Wiley

&

Sons,

Inc

(Class

A)

410,552‌

34,059

(a)

MediaAlpha,

Inc

350,127‌

122,827

(a)

NetFlix,

Inc

50,566,648‌

13,180

New

York

Times

Co

(Class

A)

531,286‌

191,498

Omnicom

Group,

Inc

14,345,115‌

4,632

(a)

Roku,

Inc

275,928‌

7,816

Scholastic

Corp

288,410‌

938,734

(b)

Sirius

XM

Holdings,

Inc

4,017,782‌

139,881

(a)

Take-Two

Interactive

Software,

Inc

18,709,084‌

8,077

TEGNA,

Inc

117,197‌

227,906

(a)

Vimeo,

Inc

701,950‌

524,539

(a)

Walt

Disney

Co

42,797,137‌

284,699

(a)

Warner

Bros

Discovery,

Inc

2,829,908‌

97,298

(a)

Yelp,

Inc

4,105,003‌

95

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

100,408

(a)

ZipRecruiter,

Inc

$

1,069,345‌

454,574

(a)

ZoomInfo

Technologies,

Inc

5,891,279‌

TOTAL

MEDIA

&

ENTERTAINMENT

213,489,112‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

7

.9

%

102,982

(a)

Aclaris

Therapeutics,

Inc

512,850‌

108,559

(a)

Adaptive

Biotechnologies

Corp

482,002‌

191,472

Agilent

Technologies,

Inc

19,792,461‌

96,394

(a)

Alector,

Inc

501,249‌

54,554

(a),(b)

Allogene

Therapeutics,

Inc

153,842‌

167,532

Amgen,

Inc

42,837,932‌

39,324

(a)

Arcellx,

Inc

1,386,171‌

34,895

(a)

Arcturus

Therapeutics

Holdings,

Inc

666,495‌

2,503

(a),(b)

Axsome

Therapeutics,

Inc

155,887‌

6,961

(a)

Biogen,

Inc

1,653,516‌

84,165

(a)

Biohaven

Ltd

2,231,214‌

696,327

Bristol-Myers

Squibb

Co

35,881,730‌

34,434

(a),(b)

Cassava

Sciences,

Inc

693,845‌

141,667

(a)

Cymabay

Therapeutics,

Inc

2,320,506‌

199,610

Danaher

Corp

38,329,112‌

157,523

Eli

Lilly

&

Co

87,256,715‌

14,228

(a),(b)

Entrada

Therapeutics,

Inc

227,790‌

107,834

(a)

Erasca,

Inc

249,097‌

329,410

Gilead

Sciences,

Inc

25,871,861‌

16,585

(a),(b)

IGM

Biosciences,

Inc

65,345‌

77,928

(a)

Immunovant,

Inc

2,575,520‌

88,123

(a)

Intellia

Therapeutics,

Inc

2,207,481‌

16,514

(a)

Intra-Cellular

Therapies,

Inc

821,737‌

64,325

(a)

IQVIA

Holdings,

Inc

11,631,890‌

7,203

(a),(b)

Janux

Therapeutics,

Inc

46,243‌

595,155

Merck

&

Co,

Inc

61,122,419‌

5,838

(a)

Mettler-Toledo

International,

Inc

5,751,598‌

46,340

(a)

Mirati

Therapeutics,

Inc

2,573,260‌

11,581

(a),(b)

Monte

Rosa

Therapeutics,

Inc

39,375‌

70,121

(a)

Nurix

Therapeutics,

Inc

391,976‌

195,814

(a)

Nuvation

Bio,

Inc

188,686‌

45,204

(a),(b)

Phathom

Pharmaceuticals,

Inc

420,397‌

32,112

Phibro

Animal

Health

Corp

350,663‌

130,685

(a)

Point

Biopharma

Global,

Inc

1,654,472‌

59,536

(a)

Prothena

Corp

plc

2,170,683‌

23,992

(a)

Regeneron

Pharmaceuticals,

Inc

18,711,121‌

32,087

(a)

Revance

Therapeutics,

Inc

253,167‌

139,569

(a),(b)

Sana

Biotechnology,

Inc

413,124‌

41,193

(a)

Scholar

Rock

Holding

Corp

484,430‌

25,491

(a),(b)

Tango

Therapeutics,

Inc

214,124‌

34,056

(a)

Tarsus

Pharmaceuticals,

Inc

484,958‌

92,659

(a)

Ultragenyx

Pharmaceutical,

Inc

3,280,129‌

20,376

(a)

Viridian

Therapeutics,

Inc

254,700‌

18,425

(a)

Waters

Corp

4,394,915‌

37,317

West

Pharmaceutical

Services,

Inc

11,877,628‌

215,449

Zoetis,

Inc

33,825,493‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

427,409,809‌

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0

.1

%

161,442

(a)

Anywhere

Real

Estate,

Inc

753,934‌

84,154

(a)

CBRE

Group,

Inc

5,835,238‌

5,945

(a)

Jones

Lang

LaSalle,

Inc

760,484‌

2,009

RMR

Group,

Inc

45,243‌

11,019

(a)

Tejon

Ranch

Co

171,015‌

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

7,565,914‌

RETAILING

-

5

.3

%

1,376,136

(a)

Amazon.com,

Inc

183,149,940‌

Social

Choice

Equity

Fund

October

31,

2023

96

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

224,510

Home

Depot,

Inc

$

63,915,752‌

205,770

Lowe's

Cos,

Inc

39,213,589‌

TOTAL

RETAILING

286,279,281‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

6

.7

%

305,947

Applied

Materials,

Inc

40,492,086‌

22,180

(a)

Cirrus

Logic,

Inc

1,484,507‌

66,455

(a)

First

Solar,

Inc

9,466,515‌

1,314,668

Intel

Corp

47,985,382‌

60,704

Lam

Research

Corp

35,707,307‌

394,943

Marvell

Technology,

Inc

18,649,209‌

377,023

Nvidia

Corp

153,749,979‌

36,472

(a)

Onto

Innovation,

Inc

4,098,359‌

157,603

(a)

Rambus,

Inc

8,562,571‌

18,585

(a)

Silicon

Laboratories,

Inc

1,713,165‌

279,114

Texas

Instruments,

Inc

39,636,979‌

119,266

(a)

Wolfspeed,

Inc

4,035,961‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

365,582,020‌

SOFTWARE

&

SERVICES

-

16

.1

%

172,394

Accenture

plc

51,216,533‌

110,280

(a)

Adobe,

Inc

58,675,577‌

193,200

(a)

Akamai

Technologies,

Inc

19,963,356‌

8,948

(a)

Ansys,

Inc

2,489,870‌

160,260

(a)

Autodesk,

Inc

31,672,184‌

133,543

(a)

Cadence

Design

Systems,

Inc

32,030,288‌

86,204

Dolby

Laboratories,

Inc

(Class

A)

6,977,352‌

306,320

(a)

DXC

Technology

Co

6,178,474‌

5,889

(a)

Fair

Isaac

Corp

4,981,328‌

7,901

(a)

HubSpot,

Inc

3,348,207‌

22,150

(a)

Intapp,

Inc

757,530‌

16,403

InterDigital,

Inc

1,234,326‌

304,728

International

Business

Machines

Corp

44,075,858‌

88,313

Intuit,

Inc

43,710,519‌

1,068,006

Microsoft

Corp

361,103,509‌

62,127

(a)

New

Relic,

Inc

5,384,547‌

123,295

(a)

Nutanix,

Inc

4,462,046‌

5,290

(a)

OneSpan,

Inc

41,791‌

255,761

(a)

Salesforce,

Inc

51,364,482‌

73,392

(a)

ServiceNow,

Inc

42,703,135‌

53,046

(a)

SPS

Commerce,

Inc

8,505,396‌

77,357

(a)

Synopsys,

Inc

36,314,470‌

58,543

(a)

Teradata

Corp

2,500,957‌

183,597

(a)

VMware,

Inc

(Class

A)

26,740,903‌

144,160

(a)

Workday,

Inc

30,520,114‌

27,569

(a)

Xperi,

Inc

234,061‌

TOTAL

SOFTWARE

&

SERVICES

877,186,813‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

4

.0

%

67,383

ADTRAN

Holdings,

Inc

442,706‌

132,392

Avnet,

Inc

6,133,721‌

42,520

Badger

Meter,

Inc

5,891,146‌

51,112

Benchmark

Electronics,

Inc

1,237,422‌

131,980

(a)

Ciena

Corp

5,569,556‌

1,049,665

Cisco

Systems,

Inc

54,719,036‌

45,946

CTS

Corp

1,718,840‌

38,409

(a)

ePlus,

Inc

2,400,563‌

53,201

(a)

Fabrinet

8,246,155‌

27,781

(a)

FARO

Technologies,

Inc

357,541‌

161,319

(a),(b)

Harmonic,

Inc

1,740,632‌

1,734,952

Hewlett

Packard

Enterprise

Co

26,683,562‌

1,025,769

HP,

Inc

27,008,498‌

41,492

(a)

Insight

Enterprises,

Inc

5,945,804‌

97

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

26,349

(a)

Itron,

Inc

$

1,509,271‌

187,194

(a)

Keysight

Technologies,

Inc

22,847,028‌

34,608

(a)

Kimball

Electronics,

Inc

906,730‌

131,685

(a)

Knowles

Corp

1,710,588‌

14,814

(a)

Lumentum

Holdings,

Inc

580,857‌

6,814

Methode

Electronics,

Inc

155,836‌

264,761

(a),(b)

MicroVision,

Inc

500,398‌

293,508

(a)

Mirion

Technologies,

Inc

2,034,010‌

42,777

(a)

Netgear,

Inc

540,701‌

14,314

(a)

Novanta,

Inc

1,890,307‌

22,912

(a)

OSI

Systems,

Inc

2,389,034‌

39,025

(a),(b)

PAR

Technology

Corp

1,139,140‌

39,671

(a)

Plexus

Corp

3,900,453‌

55,453

(a)

Ribbon

Communications,

Inc

104,252‌

25,025

(a)

Rogers

Corp

3,075,322‌

359,133

(a)

Trimble

Inc

16,925,938‌

18,688

(a)

Vishay

Precision

Group,

Inc

559,145‌

226,757

Vontier

Corp

6,702,937‌

168,168

Xerox

Holdings

Corp

2,159,277‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

217,726,406‌

TELECOMMUNICATION

SERVICES

-

1

.0

%

35,079

(a)

Bandwidth,

Inc

372,188‌

154,613

Iridium

Communications,

Inc

5,728,412‌

1,302,455

Verizon

Communications,

Inc

45,755,244‌

TOTAL

TELECOMMUNICATION

SERVICES

51,855,844‌

TRANSPORTATION

-

2

.6

%

34,871

ArcBest

Corp

3,796,754‌

55,101

CH

Robinson

Worldwide,

Inc

4,508,915‌

1,147,365

CSX

Corp

34,248,845‌

692,858

Delta

Air

Lines,

Inc

21,651,813‌

101,378

Expeditors

International

Washington,

Inc

11,075,547‌

180

Landstar

System,

Inc

29,660‌

8,345

Norfolk

Southern

Corp

1,592,143‌

50,452

Old

Dominion

Freight

Line

19,003,250‌

9

Ryder

System,

Inc

878‌

22,060

(a)

Saia,

Inc

7,908,289‌

248,049

United

Parcel

Service,

Inc

(Class

B)

35,036,921‌

TOTAL

TRANSPORTATION

138,853,015‌

UTILITIES

-

2

.2

%

276,600

American

Electric

Power

Co,

Inc

20,894,364‌

140,493

Consolidated

Edison,

Inc

12,333,880‌

632,716

NextEra

Energy,

Inc

36,887,343‌

499,130

Southern

Co

33,591,449‌

75,182

WEC

Energy

Group,

Inc

6,119,063‌

180,121

Xcel

Energy,

Inc

10,675,772‌

TOTAL

UTILITIES

120,501,871‌

TOTAL

COMMON

STOCKS

5,417,549,240‌

(Cost

$3,726,587,174)

TOTAL

LONG-TERM

INVESTMENTS

5,417,549,240‌

(Cost

$3,726,587,174)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.2%

GOVERNMENT

AGENCY

DEBT

-

0

.1

%

$

5,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

11/02/23

4,999,286‌

TOTAL

GOVERNMENT

AGENCY

DEBT

4,999,286‌

Social

Choice

Equity

Fund

October

31,

2023

98

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REPURCHASE

AGREEMENT

-

0

.1

%

$

3,409,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

%

11/01/23

$

3,409,000‌

TOTAL

REPURCHASE

AGREEMENT

3,409,000‌

TOTAL

SHORT-TERM

INVESTMENTS

8,408,286‌

(Cost

$8,408,266)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.2%

12,789,902

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

12,789,902‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

12,789,902‌

(Cost

$12,789,902)

TOTAL

INVESTMENTS

-

100.1%

5,438,747,428‌

(Cost

$3,747,785,342)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(

7,580,892‌

)

NET

ASSETS

-

100.0%

$

5,431,166,536‌

ETF

Exchange

Traded

Fund

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$13,259,679.

(c)

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$3,409,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$3,477,210.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

S&P

500

E

Mini

Index

49‌

12/15/23

 $

10,469,638‌

$

10,320,013‌

$

(

149,625‌

)

Portfolio

of

Investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2023

99

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.3%

COMMON

STOCKS

-

99.3%

AUTOMOBILES

&

COMPONENTS

-

2

.1

%

35,767

(a)

Aptiv

plc

$

3,118,882‌

15,654

(a)

Modine

Manufacturing

Co

618,333‌

97,146

(a)

Tesla,

Inc

19,510,803‌

TOTAL

AUTOMOBILES

&

COMPONENTS

23,248,018‌

BANKS

-

3

.0

%

1,105

Amalgamated

Financial

Corp

20,155‌

339

Camden

National

Corp

9,885‌

160,289

Citigroup,

Inc

6,329,813‌

22,952

Citizens

Financial

Group,

Inc

537,765‌

119

First

Commonwealth

Financial

Corp

1,449‌

5,919

Independent

Bank

Corp

118,084‌

116,270

JPMorgan

Chase

&

Co

16,168,506‌

262

Live

Oak

Bancshares,

Inc

7,559‌

42,628

PNC

Financial

Services

Group,

Inc

4,879,627‌

1,527

Premier

Financial

Corp

26,494‌

65,064

Regions

Financial

Corp

945,380‌

1,460

Stellar

Bancorp,

Inc

31,740‌

137,130

Truist

Financial

Corp

3,889,007‌

1,445

Univest

Financial

Corp

24,074‌

TOTAL

BANKS

32,989,538‌

CAPITAL

GOODS

-

7

.7

%

64,929

3M

Co

5,905,292‌

3,853

Argan,

Inc

176,236‌

21,340

(a)

Axon

Enterprise,

Inc

4,363,817‌

88,108

Carrier

Global

Corp

4,199,227‌

35,394

Caterpillar,

Inc

8,000,814‌

11,472

Curtiss-Wright

Corp

2,280,748‌

19,763

Deere

&

Co

7,220,610‌

36,869

Eaton

Corp

plc

7,665,434‌

271

EMCOR

Group,

Inc

56,002‌

71,693

Emerson

Electric

Co

6,378,526‌

16,418

(a)

Energy

Recovery,

Inc

249,554‌

28,654

Fastenal

Co

1,671,674‌

80,888

Fortive

Corp

5,280,369‌

10,208

(a)

Generac

Holdings,

Inc

858,187‌

19,903

(a)

Great

Lakes

Dredge

&

Dock

Corp

151,263‌

14,308

Hexcel

Corp

885,951‌

3,189

Hyster-Yale

Materials

Handling,

Inc

127,592‌

30,443

Illinois

Tool

Works,

Inc

6,822,885‌

20,174

Ingersoll

Rand,

Inc

1,224,158‌

19,525

Johnson

Controls

International

plc

957,115‌

37,635

(a)

Kratos

Defense

&

Security

Solutions,

Inc

641,677‌

8,222

Luxfer

Holdings

plc

67,996‌

14,909

(a)

Mercury

Computer

Systems,

Inc

536,426‌

8,633

Moog,

Inc

(Class

A)

1,001,860‌

3,920

Owens

Corning,

Inc

444,410‌

11,860

PACCAR,

Inc

978,806‌

8,823

Primoris

Services

Corp

265,219‌

8,268

(a)

Proto

Labs,

Inc

195,207‌

31,681

Quanta

Services,

Inc

5,294,529‌

6,567

Rockwell

Automation,

Inc

1,725,873‌

2,387

Trane

Technologies

plc

454,270‌

17,595

(a)

Triumph

Group,

Inc

131,259‌

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2023

100

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

9,810

United

Rentals,

Inc

$

3,985,509‌

3,679

(a)

V2X,

Inc

187,886‌

4,248

W.W.

Grainger,

Inc

3,100,318‌

9,848

Woodward

Inc

1,228,046‌

1,778

Xylem,

Inc

166,314‌

TOTAL

CAPITAL

GOODS

84,881,059‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1

.9

%

6,190

ACCO

Brands

Corp

31,321‌

34,318

Automatic

Data

Processing,

Inc

7,488,874‌

11,181

Concentrix

Corp

852,104‌

147,736

(a)

Copart,

Inc

6,429,471‌

9,357

CSG

Systems

International,

Inc

438,469‌

45,935

(a)

ExlService

Holdings,

Inc

1,199,363‌

10,006

(a)

FTI

Consulting,

Inc

2,123,874‌

1,243

Heidrick

&

Struggles

International,

Inc

30,255‌

1,324

Herman

Miller,

Inc

31,114‌

278

ICF

International,

Inc

35,231‌

162

Insperity,

Inc

17,146‌

5,463

Kelly

Services,

Inc

(Class

A)

97,515‌

7

Kforce,

Inc

427‌

6,255

(a)

Liquidity

Services,

Inc

120,534‌

8,860

Matthews

International

Corp

(Class

A)

313,998‌

2,761

(a)

OPENLANE,

Inc

37,080‌

5,558

TransUnion

243,885‌

1,943

(a)

TrueBlue,

Inc

21,509‌

2,488

TTEC

Holdings,

Inc

51,203‌

12,847

(a)

Veralto

Corp

886,443‌

4,286

Verisk

Analytics,

Inc

974,465‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

21,424,281‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0

.8

%

6,440

(a)

1-800-FLOWERS.COM,

Inc

(Class

A)

48,364‌

94,417

eBay,

Inc

3,703,979‌

2,315

Hibbett

Sports,

Inc

106,652‌

11

LKQ

Corp

483‌

55,475

TJX

Cos,

Inc

4,885,683‌

868

Winmark

Corp

350,082‌

4,787

(a)

Zumiez,

Inc

78,651‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

9,173,894‌

CONSUMER

DURABLES

&

APPAREL

-

0

.8

%

16,985

(a)

GoPro,

Inc

42,632‌

8,063

(a)

Green

Brick

Partners,

Inc

312,038‌

5

Hasbro,

Inc

226‌

6,636

(a)

iRobot

Corp

218,524‌

2,929

(a)

Lovesac

Co

48,211‌

15,060

(a)

Lululemon

Athletica,

Inc

5,925,809‌

36,246

Pulte

Homes,

Inc

2,667,343‌

9,623

(a)

Sonos,

Inc

103,736‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

9,318,519‌

CONSUMER

SERVICES

-

2

.1

%

2,882

(a)

Booking

Holdings,

Inc

8,039,512‌

12,782

(a)

Brinker

International,

Inc

433,565‌

4,301

Carriage

Services,

Inc

92,902‌

12,260

(a)

Dave

&

Buster's

Entertainment,

Inc

428,364‌

6,086

(a)

European

Wax

Center,

Inc

89,890‌

128

(a)

Frontdoor,

Inc

3,703‌

28,670

(a)

Rover

Group,

Inc

184,922‌

5,037

(a)

Shake

Shack,

Inc

282,273‌

4,968

(a)

Six

Flags

Entertainment

Corp

98,863‌

86,670

Starbucks

Corp

7,994,441‌

101

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

2,511

Vail

Resorts,

Inc

$

532,960‌

46,366

Yum!

Brands,

Inc

5,603,795‌

TOTAL

CONSUMER

SERVICES

23,785,190‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.5

%

5,371

Andersons,

Inc

269,248‌

36,632

(a)

BJ's

Wholesale

Club

Holdings,

Inc

2,495,372‌

66,862

Kroger

Co

3,033,529‌

40,550

(a)

Performance

Food

Group

Co

2,342,168‌

397

Pricesmart,

Inc

24,808‌

5,542

SpartanNash

Co

124,640‌

28,639

(a)

Sprouts

Farmers

Market,

Inc

1,203,411‌

43,725

Target

Corp

4,844,293‌

10,982

(a)

United

Natural

Foods,

Inc

160,118‌

60,461

(a)

US

Foods

Holding

Corp

2,354,351‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

16,851,938‌

ENERGY

-

2

.9

%

38,102

Archrock,

Inc

482,752‌

179,774

Baker

Hughes

Co

6,187,821‌

17,952

Cactus,

Inc

842,667‌

60,854

ChampionX

Corp

1,874,303‌

48,397

(a)

Clean

Energy

Fuels

Corp

168,906‌

7,822

Core

Laboratories,

Inc

167,547‌

20,124

Delek

US

Holdings,

Inc

530,267‌

4,198

(a)

DMC

Global,

Inc

79,552‌

10,205

(a)

Dril-Quip,

Inc

221,040‌

5,676

Excelerate

Energy,

Inc

80,713‌

23,720

(a)

Expro

Group

Holdings

NV

373,590‌

17,690

(a)

Green

Plains,

Inc

519,732‌

156,435

Halliburton

Co

6,154,153‌

119,912

NOV,

Inc

2,393,444‌

29,233

(a)

Oceaneering

International,

Inc

642,834‌

94,615

ONEOK,

Inc

6,168,898‌

132,001

TechnipFMC

plc

2,840,662‌

20,990

(a)

Weatherford

International

plc

1,953,959‌

17,818

World

Fuel

Services

Corp

329,633‌

TOTAL

ENERGY

32,012,473‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2

.7

%

38,846

American

Tower

Corp

6,921,969‌

40,039

Crown

Castle,

Inc

3,722,826‌

24,207

DiamondRock

Hospitality

Co

187,120‌

11,972

Empire

State

Realty

Trust,

Inc

96,853‌

9,877

Equinix,

Inc

7,206,654‌

2,503

(a)

Howard

Hughes

Holdings,

Inc

166,024‌

6,811

Iron

Mountain,

Inc

402,326‌

33,468

Park

Hotels

&

Resorts,

Inc

385,886‌

3,043

PotlatchDeltic

Corp

130,393‌

67,888

(b)

Prologis,

Inc

6,839,716‌

4,036

Safehold,

Inc

65,666‌

17,766

Sunstone

Hotel

Investors,

Inc

165,224‌

40,242

Welltower,

Inc

3,364,634‌

13,732

Xenia

Hotels

&

Resorts,

Inc

159,703‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

29,814,994‌

FINANCIAL

SERVICES

-

8

.4

%

53,145

Ally

Financial,

Inc

1,285,578‌

48,139

American

Express

Co

7,029,738‌

2,628

Ameriprise

Financial,

Inc

826,690‌

54,996

Bank

of

New

York

Mellon

Corp

2,337,330‌

11,487

BlackRock,

Inc

7,033,260‌

28,027

Discover

Financial

Services

2,300,456‌

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2023

102

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

129

Federal

Agricultural

Mortgage

Corp

(FAMC)

$

19,164‌

103,327

Fidelity

National

Information

Services,

Inc

5,074,389‌

23,668

Goldman

Sachs

Group,

Inc

7,185,841‌

63,466

Intercontinental

Exchange,

Inc

6,818,787‌

37,218

Mastercard,

Inc

(Class

A)

14,006,994‌

15,728

Moody's

Corp

4,844,224‌

91,677

Morgan

Stanley

6,492,565‌

32,118

(a)

Open

Lending

Corp

192,387‌

101,761

(a)

PayPal

Holdings,

Inc

5,271,220‌

24,186

S&P

Global,

Inc

8,448,412‌

19,202

State

Street

Corp

1,241,025‌

45,616

Visa,

Inc

(Class

A)

10,724,322‌

13,008

(a)

WEX,

Inc

2,165,572‌

TOTAL

FINANCIAL

SERVICES

93,297,954‌

FOOD,

BEVERAGE

&

TOBACCO

-

3

.8

%

17,950

Bunge

Ltd

1,902,341‌

196,522

Coca-Cola

Co

11,101,528‌

46,341

(a)

Darling

International,

Inc

2,052,443‌

81,822

General

Mills,

Inc

5,338,067‌

87

(a)

Hain

Celestial

Group,

Inc

961‌

38,355

Hormel

Foods

Corp

1,248,455‌

6,455

Kellogg

Co

325,784‌

127,363

Keurig

Dr

Pepper,

Inc

3,862,920‌

44,590

Lamb

Weston

Holdings,

Inc

4,004,182‌

11,256

McCormick

&

Co,

Inc

719,258‌

68,016

PepsiCo,

Inc

11,105,653‌

3,305

(a)

Vital

Farms,

Inc

36,553‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

41,698,145‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

5

.5

%

126

(a)

Acadia

Healthcare

Co,

Inc

9,262‌

43

(a)

AMN

Healthcare

Services,

Inc

3,262‌

11,386

(a)

Angiodynamics,

Inc

70,593‌

6,744

(a)

Axogen,

Inc

25,358‌

28,701

(a)

Cerus

Corp

40,181‌

24,086

Cigna

Group

7,447,391‌

8,877

(a)

CryoLife,

Inc

113,093‌

47,352

(a)

DexCom,

Inc

4,206,278‌

78,493

(a)

Edwards

Lifesciences

Corp

5,001,574‌

16,292

Elevance

Health,

Inc

7,332,866‌

295

Encompass

Health

Corp

18,455‌

14,996

(a)

Enhabit,

Inc

110,521‌

9,467

(a)

Envista

Holdings

Corp

220,297‌

6,370

(a)

Fulgent

Genetics,

Inc

152,498‌

24,807

HCA,

Inc

5,609,855‌

16,334

(a)

Health

Catalyst,

Inc

122,342‌

6,341

(a)

Hologic,

Inc

419,584‌

11,236

(a)

IDEXX

Laboratories,

Inc

4,488,445‌

1,649

(a)

Insulet

Corp

218,608‌

90

(a)

Integer

Holdings

Corp

7,305‌

5,255

LeMaitre

Vascular,

Inc

255,288‌

62

(a)

LivaNova

plc

3,041‌

7,558

(a)

NextGen

Healthcare,

Inc

180,787‌

13,518

(a)

Omnicell,

Inc

480,430‌

122,939

(a)

Opko

Health,

Inc

153,674‌

17,854

(a)

OraSure

Technologies,

Inc

92,127‌

5,698

(a)

Orthofix

Medical,

Inc

62,906‌

7,973

(a)

Outset

Medical,

Inc

28,224‌

11,126

(a)

Penumbra,

Inc

2,126,735‌

586

(a)

RadNet,

Inc

15,799‌

12,615

Resmed,

Inc

1,781,490‌

5,277

(a)

Shockwave

Medical,

Inc

1,088,434‌

103

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

10,364

(a)

SI-BONE,

Inc

$

176,292‌

2,949

(a)

STAAR

Surgical

Co

123,327‌

3,478

(a)

Teladoc

Health,

Inc

57,526‌

2,029

(a)

UFP

Technologies,

Inc

316,362‌

33,139

UnitedHealth

Group,

Inc

17,747,923‌

6,424

(a)

Varex

Imaging

Corp

115,953‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

60,424,086‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.9

%

80,172

Colgate-Palmolive

Co

6,022,521‌

1,875

Kimberly-Clark

Corp

224,325‌

100,504

Procter

&

Gamble

Co

15,078,615‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

21,325,461‌

INSURANCE

-

2

.8

%

2,670

Argo

Group

International

Holdings

Ltd

79,673‌

146,974

(a)

Genworth

Financial,

Inc

(Class

A)

880,374‌

42,381

Marsh

&

McLennan

Cos,

Inc

8,037,557‌

6,102

Primerica,

Inc

1,166,458‌

8,968

ProAssurance

Corp

152,456‌

50,529

Progressive

Corp

7,988,130‌

57,650

Prudential

Financial,

Inc

5,271,516‌

18,318

Selective

Insurance

Group,

Inc

1,907,087‌

35,499

Travelers

Cos,

Inc

5,943,952‌

TOTAL

INSURANCE

31,427,203‌

MATERIALS

-

2

.3

%

36,860

(a)

Allegheny

Technologies,

Inc

1,392,202‌

86,588

Ball

Corp

4,169,212‌

4,887

(a)

Clearwater

Paper

Corp

165,229‌

34,438

(a)

Coeur

Mining,

Inc

86,439‌

16,584

Commercial

Metals

Co

701,337‌

81

Compass

Minerals

International,

Inc

1,996‌

37,362

Ecolab,

Inc

6,267,102‌

44,407

Graphic

Packaging

Holding

Co

955,195‌

5,887

Hawkins,

Inc

338,090‌

34

Innospec,

Inc

3,332‌

6,388

International

Flavors

&

Fragrances,

Inc

436,620‌

6,031

Koppers

Holdings,

Inc

220,554‌

3,959

Myers

Industries,

Inc

66,392‌

122,312

Newmont

Goldcorp

Corp

4,583,031‌

1,645

Olympic

Steel,

Inc

83,517‌

6,517

PPG

Industries,

Inc

800,092‌

19,577

Royal

Gold,

Inc

2,042,468‌

5,769

Ryerson

Holding

Corp

167,589‌

2,888

Schnitzer

Steel

Industries,

Inc

(Class

A)

65,587‌

23,934

Steel

Dynamics,

Inc

2,549,210‌

10,324

Trinseo

plc

63,906‌

29,586

Valvoline,

Inc

877,817‌

TOTAL

MATERIALS

26,036,917‌

MEDIA

&

ENTERTAINMENT

-

3

.9

%

8,442

(a)

Charter

Communications,

Inc

3,400,438‌

241,866

Comcast

Corp

(Class

A)

9,986,647‌

38,397

Electronic

Arts,

Inc

4,753,165‌

5,935

(a)

Liberty

Media

Corp-Liberty

Formula

One

383,935‌

6,347

(a)

MediaAlpha,

Inc

65,247‌

25,194

(a)

NetFlix,

Inc

10,372,118‌

7,377

(a)

Roku,

Inc

439,448‌

13,672

(a)

Take-Two

Interactive

Software,

Inc

1,828,630‌

40,872

(a)

Vimeo,

Inc

125,886‌

104,368

(a)

Walt

Disney

Co

8,515,385‌

69,536

(a)

Warner

Bros

Discovery,

Inc

691,188‌

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2023

104

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

20,235

(a)

Yelp,

Inc

$

853,715‌

22,813

(a)

ZipRecruiter,

Inc

242,958‌

81,361

(a)

ZoomInfo

Technologies,

Inc

1,054,438‌

TOTAL

MEDIA

&

ENTERTAINMENT

42,713,198‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

7

.8

%

21,113

(a)

Aclaris

Therapeutics,

Inc

105,143‌

22,005

Agilent

Technologies,

Inc

2,274,657‌

24,261

(a),(c)

Allogene

Therapeutics,

Inc

68,416‌

34,033

Amgen,

Inc

8,702,238‌

11,312

(a)

Arcellx,

Inc

398,748‌

11,247

(a)

Biogen,

Inc

2,671,612‌

17,715

(a)

Biohaven

Ltd

469,625‌

129,807

Bristol-Myers

Squibb

Co

6,688,955‌

6,343

(a),(c)

Cassava

Sciences,

Inc

127,811‌

29,235

(a)

Cymabay

Therapeutics,

Inc

478,869‌

38,542

Danaher

Corp

7,400,835‌

32,458

Eli

Lilly

&

Co

17,979,460‌

5,238

(a)

Entrada

Therapeutics,

Inc

83,860‌

10,787

(a)

Erasca,

Inc

24,918‌

101,873

Gilead

Sciences,

Inc

8,001,105‌

11,521

(a)

Illumina,

Inc

1,260,628‌

16,081

(a)

Immunovant,

Inc

531,477‌

22,350

(a)

Intellia

Therapeutics,

Inc

559,868‌

3,226

(a)

IQVIA

Holdings,

Inc

583,358‌

120,541

Merck

&

Co,

Inc

12,379,561‌

7,717

(a)

Nurix

Therapeutics,

Inc

43,138‌

35,444

(a)

Nuvation

Bio,

Inc

34,154‌

7,336

(a)

Phathom

Pharmaceuticals,

Inc

68,225‌

25,776

(a)

Point

Biopharma

Global,

Inc

326,324‌

9,671

(a)

Regeneron

Pharmaceuticals,

Inc

7,542,316‌

27,104

(a),(c)

Sana

Biotechnology,

Inc

80,228‌

7,756

(a),(c)

Tango

Therapeutics,

Inc

65,150‌

7,168

(a)

Tarsus

Pharmaceuticals,

Inc

102,072‌

18,384

(a),(c)

Theravance

Biopharma,

Inc

173,545‌

3,424

West

Pharmaceutical

Services,

Inc

1,089,825‌

42,369

Zoetis,

Inc

6,651,933‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

86,968,054‌

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0

.3

%

32,684

(a)

Anywhere

Real

Estate,

Inc

152,634‌

41,029

(a)

CBRE

Group,

Inc

2,844,951‌

4,386

(a)

Tejon

Ranch

Co

68,071‌

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

3,065,656‌

RETAILING

-

5

.3

%

285,597

(a)

Amazon.com,

Inc

38,010,105‌

44,851

Home

Depot,

Inc

12,768,631‌

41,709

Lowe's

Cos,

Inc

7,948,484‌

TOTAL

RETAILING

58,727,220‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

7

.0

%

62,999

Applied

Materials,

Inc

8,337,918‌

7,282

(a)

Cirrus

Logic,

Inc

487,384‌

30,342

(a)

First

Solar,

Inc

4,322,218‌

265,817

Intel

Corp

9,702,320‌

12,368

Lam

Research

Corp

7,275,105‌

106,653

Marvell

Technology,

Inc

5,036,155‌

76,942

Nvidia

Corp

31,376,948‌

7,755

(a)

Onto

Innovation,

Inc

871,429‌

32,523

(a)

Rambus,

Inc

1,766,975‌

1,540

(a)

Silicon

Laboratories,

Inc

141,957‌

56,230

Texas

Instruments,

Inc

7,985,222‌

105

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

4,925

(a)

Wolfspeed,

Inc

$

166,662‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

77,470,293‌

SOFTWARE

&

SERVICES

-

16

.3

%

35,791

Accenture

plc

10,633,148‌

22,748

(a)

Adobe,

Inc

12,103,301‌

47,207

(a)

Akamai

Technologies,

Inc

4,877,899‌

8,492

(a)

Altair

Engineering,

Inc

527,523‌

7,964

(a)

Ansys,

Inc

2,216,063‌

24,328

(a)

Autodesk,

Inc

4,807,943‌

30,152

(a)

Cadence

Design

Systems,

Inc

7,231,957‌

3,686

(a)

Commvault

Systems,

Inc

240,880‌

1,826

Dolby

Laboratories,

Inc

(Class

A)

147,796‌

68,918

(a)

DXC

Technology

Co

1,390,076‌

330

(a)

Elastic

NV

24,763‌

4,974

(a)

Fair

Isaac

Corp

4,207,357‌

4,662

(a)

Intapp,

Inc

159,440‌

8,242

InterDigital,

Inc

620,211‌

62,647

International

Business

Machines

Corp

9,061,262‌

18,017

Intuit,

Inc

8,917,514‌

218,203

Microsoft

Corp

73,776,616‌

50,547

(a)

Salesforce,

Inc

10,151,354‌

15,112

(a)

ServiceNow,

Inc

8,792,917‌

11,165

(a)

SPS

Commerce,

Inc

1,790,196‌

15,908

(a)

Synopsys,

Inc

7,467,852‌

17,108

(a)

Teradata

Corp

730,854‌

33,127

(a)

VMware,

Inc

(Class

A)

4,824,948‌

26,094

(a)

Workday,

Inc

5,524,361‌

TOTAL

SOFTWARE

&

SERVICES

180,226,231‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

4

.2

%

28,112

Avnet,

Inc

1,302,429‌

8,954

Badger

Meter,

Inc

1,240,577‌

10,055

Benchmark

Electronics,

Inc

243,432‌

44,657

(a)

Ciena

Corp

1,884,525‌

216,301

Cisco

Systems,

Inc

11,275,771‌

9,052

CTS

Corp

338,635‌

8,113

(a)

ePlus,

Inc

507,063‌

11,300

(a)

Fabrinet

1,751,500‌

5,222

(a)

FARO

Technologies,

Inc

67,207‌

32,839

(a)

Harmonic,

Inc

354,333‌

365,422

Hewlett

Packard

Enterprise

Co

5,620,190‌

205,806

HP,

Inc

5,418,872‌

9,609

(a)

Insight

Enterprises,

Inc

1,376,970‌

7,601

(a)

Itron,

Inc

435,385‌

37,364

(a)

Keysight

Technologies,

Inc

4,560,276‌

7,284

(a)

Kimball

Electronics,

Inc

190,841‌

25,579

(a)

Knowles

Corp

332,271‌

5,528

Littelfuse,

Inc

1,197,752‌

172

(a)

Lumentum

Holdings,

Inc

6,744‌

600

Methode

Electronics,

Inc

13,722‌

47,269

(a),(c)

MicroVision,

Inc

89,338‌

40,678

(a)

Mirion

Technologies,

Inc

281,899‌

8,531

(a)

Netgear,

Inc

107,832‌

2,868

(a)

Novanta,

Inc

378,748‌

4,734

(a)

OSI

Systems,

Inc

493,614‌

7,569

(a),(c)

PAR

Technology

Corp

220,939‌

7,905

(a)

Plexus

Corp

777,220‌

21,532

(a)

Ribbon

Communications,

Inc

40,480‌

5,484

(a)

Rogers

Corp

673,929‌

73,557

(a)

Trimble

Inc

3,466,741‌

2,890

(a)

Vishay

Precision

Group,

Inc

86,469‌

48,593

Vontier

Corp

1,436,409‌

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2023

106

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

34,198

Xerox

Holdings

Corp

$

439,102‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

46,611,215‌

TELECOMMUNICATION

SERVICES

-

0

.8

%

6,905

(a)

Bandwidth,

Inc

73,262‌

21,856

(a)

Consolidated

Communications

Holdings,

Inc

91,139‌

7,122

Iridium

Communications,

Inc

263,870‌

243,313

Verizon

Communications,

Inc

8,547,586‌

TOTAL

TELECOMMUNICATION

SERVICES

8,975,857‌

TRANSPORTATION

-

2

.1

%

4,518

CH

Robinson

Worldwide,

Inc

369,708‌

225,206

CSX

Corp

6,722,399‌

27,646

Expeditors

International

Washington,

Inc

3,020,326‌

10,134

(a)

GXO

Logistics,

Inc

511,868‌

16,335

Old

Dominion

Freight

Line

6,152,741‌

1,512

Ryder

System,

Inc

147,480‌

47,614

United

Parcel

Service,

Inc

(Class

B)

6,725,478‌

TOTAL

TRANSPORTATION

23,650,000‌

UTILITIES

-

1

.4

%

69,039

Consolidated

Edison,

Inc

6,060,934‌

68,280

Essential

Utilities,

Inc

2,284,649‌

78,228

Eversource

Energy

4,207,884‌

26,878

Exelon

Corp

1,046,629‌

7,098

ONE

Gas,

Inc

428,719‌

28,346

(a),(c)

Sunnova

Energy

International,

Inc

258,799‌

62,543

UGI

Corp

1,300,895‌

TOTAL

UTILITIES

15,588,509‌

TOTAL

COMMON

STOCKS

1,101,705,903‌

(Cost

$1,016,605,076)

TOTAL

LONG-TERM

INVESTMENTS

1,101,705,903‌

(Cost

$1,016,605,076)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.6%

REPURCHASE

AGREEMENT

-

0

.6

%

$

6,663,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

%

11/01/23

6,663,000‌

TOTAL

REPURCHASE

AGREEMENT

6,663,000‌

TREASURY

DEBT

-

0

.0

%

167,000

United

States

Treasury

Bill

0

.000

11/07/23

166,853‌

TOTAL

TREASURY

DEBT

166,853‌

TOTAL

SHORT-TERM

INVESTMENTS

6,829,853‌

(Cost

$6,829,853)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.1%

677,040

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

677,040‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

677,040‌

(Cost

$677,040)

TOTAL

INVESTMENTS

-

100.0%

1,109,212,796‌

(Cost

$1,024,111,969)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.0)%

(

239,846‌

)

NET

ASSETS

-

100.0%

$

1,108,972,950‌

107

See

Notes

to

Financial

Statements

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

(c)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$1,073,350.

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$6,663,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$6,796,291.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

S&P

500

E

Mini

Index

34‌

12/15/23

 $

7,344,097‌

$

7,160,825‌

$

(

183,272‌

)

Emerging

Markets

Equity

Fund

October

31,

2023

Portfolio

of

Investments

108

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

91.0%

COMMON

STOCKS

-

91.0%

BRAZIL

-

9

.2

%

2,232,600

Banco

BTG

Pactual

S.A.

-

Unit

$

13,107,544‌

7,514,600

(a)

Cia

Brasileira

de

Distribuicao

5,395,518‌

4,925,300

(a)

Embraer

S.A.

17,183,721‌

1,277,500

Localiza

Rent

A

Car

12,889,656‌

9,621,100

(b)

Locaweb

Servicos

de

Internet

S.A.

10,381,075‌

31,886,011

Raizen

S.A.

22,957,549‌

8,386,141

Sendas

Distribuidora

S.A.

18,196,932‌

2,956,800

Ultrapar

Participacoes

S.A.

11,993,169‌

2,092,300

Vale

S.A.

28,634,641‌

TOTAL

BRAZIL

140,739,805‌

CANADA

-

1

.1

%

1,136,250

(c)

Pan

American

Silver

Corp

16,600,612‌

TOTAL

CANADA

16,600,612‌

CHINA

-

21

.1

%

9,044,908

(a)

Alibaba

Group

Holding

Ltd

93,117,987‌

1,512,758

(a)

Baidu,

Inc

19,860,699‌

905,373

(a),(c)

Baozun,

Inc

(ADR)

2,734,226‌

463,502

BYD

Co

Ltd

15,123,823‌

3,576,738

China

Merchants

Bank

Co

Ltd

(Class

A)

15,047,881‌

672,807

Contemporary

Amperex

Technology

Co

Ltd

17,083,783‌

17,708,000

CSPC

Pharmaceutical

Group

Ltd

15,467,393‌

6,445,966

Foxconn

Industrial

Internet

Co

Ltd

12,987,540‌

3,780,527

(a)

HUYA,

Inc

(ADR)

11,833,050‌

269,361

(a)

iClick

Interactive

Asia

Group

Ltd

(ADR)

482,156‌

1,429,550

JD.com,

Inc

18,174,094‌

220,943

(a)

PDD

Holdings,

Inc

(ADR)

22,408,039‌

1,393,000

Silergy

Corp

12,450,407‌

1,820,476

Tencent

Holdings

Ltd

67,373,505‌

TOTAL

CHINA

324,144,583‌

COLOMBIA

-

1

.7

%

7,514,600

(a)

Almacenes

Exito

S.A.

26,008,781‌

TOTAL

COLOMBIA

26,008,781‌

HONG

KONG

-

1

.0

%

22,290

(a),(d)

Asia

Pacific

Investment

Partners

Limited

223‌

1,812,362

(a)

Melco

Crown

Entertainment

Ltd

(ADR)

15,296,335‌

TOTAL

HONG

KONG

15,296,558‌

INDIA

-

17

.4

%

2,990,033

Axis

Bank

Ltd

35,281,811‌

22,956,912

Edelweiss

Financial

Services

Ltd

17,113,415‌

1,608,087

HDFC

Bank

Ltd

28,534,748‌

320,684

HDFC

Bank

Ltd

(ADR)

18,134,680‌

1,994,731

Mahindra

&

Mahindra

Ltd

34,958,207‌

256,242

(a)

Nuvama

Wealth

Management

Ltd

8,997,073‌

1,987,448

Piramal

Enterprises

Ltd

23,290,848‌

11,007,792

(a)

Piramal

Pharma

Ltd

13,827,631‌

2,678,512

Reliance

Industries

Ltd

73,653,128‌

5,477,356

(a)

Reliance

Strategic

Investments

Ltd

14,407,386‌

TOTAL

INDIA

268,198,927‌

INDONESIA

-

2

.8

%

54,229,500

Astra

International

Tbk

PT

19,727,584‌

1,579,844,000

(a)

GoTo

Gojek

Tokopedia

Tbk

PT

5,976,936‌

109

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INDONESIA—continued

47,631,600

PT

Bank

Mandiri

Persero

Tbk

$

17,016,487‌

TOTAL

INDONESIA

42,721,007‌

KOREA,

REPUBLIC

OF

-

8

.3

%

267,692

Hynix

Semiconductor,

Inc

23,246,935‌

396,283

KB

Financial

Group,

Inc

15,105,609‌

1,807,359

Samsung

Electronics

Co

Ltd

89,961,074‌

TOTAL

KOREA,

REPUBLIC

OF

128,313,618‌

MACAU

-

1

.4

%

23,702,500

(a),(c)

Wynn

Macau

Ltd

20,991,115‌

TOTAL

MACAU

20,991,115‌

MEXICO

-

4

.9

%

597,794

Fomento

Economico

Mexicano

SAB

de

C.V.

(ADR)

67,795,817‌

3,207,638

Grupo

Televisa

SAB

(ADR)

7,409,644‌

TOTAL

MEXICO

75,205,461‌

PERU

-

0

.8

%

103,687

Credicorp

Ltd

12,956,727‌

TOTAL

PERU

12,956,727‌

SAUDI

ARABIA

-

3

.1

%

1,129,934

Al

Rajhi

Bank

20,226,457‌

3,055,581

(b)

Saudi

Arabian

Oil

Co

27,146,858‌

TOTAL

SAUDI

ARABIA

47,373,315‌

SINGAPORE

-

3

.0

%

1,110,250

(a)

Sea

Ltd

(ADR)

46,297,425‌

TOTAL

SINGAPORE

46,297,425‌

TAIWAN

-

10

.4

%

1,671,000

MediaTek,

Inc

43,612,017‌

7,092,400

Taiwan

Semiconductor

Manufacturing

Co

Ltd

115,836,666‌

TOTAL

TAIWAN

159,448,683‌

THAILAND

-

0

.8

%

2,672,000

PTT

Exploration

&

Production

PCL

(ADR)

12,202,561‌

TOTAL

THAILAND

12,202,561‌

URUGUAY

-

4

.0

%

6,892,655

(e)

Arcos

Dorados

Holdings,

Inc

62,171,748‌

TOTAL

URUGUAY

62,171,748‌

TOTAL

COMMON

STOCKS

1,398,670,926‌

(Cost

$1,479,268,945)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

BRAZIL

-

0

.0

%

9,367

Localiza

Rent

a

Car

S.A.

11/10/23

13,005‌

TOTAL

BRAZIL

13,005‌

TOTAL

RIGHTS/WARRANTS

13,005‌

(Cost

$0)

TOTAL

LONG-TERM

INVESTMENTS

1,398,683,931‌

(Cost

$1,479,268,945)

Emerging

Markets

Equity

Fund

October

31,

2023

110

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

BRAZIL—continued

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

8.7%

GOVERNMENT

AGENCY

DEBT

-

2

.5

%

$

10,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

11/02/23

$

9,998,573‌

8,750,000

FHLB

0

.000

11/03/23

8,747,504‌

10,000,000

FHLB

0

.000

12/12/23

9,941,357‌

10,000,000

FHLB

0

.000

01/05/24

9,906,934‌

TOTAL

GOVERNMENT

AGENCY

DEBT

38,594,368‌

REPURCHASE

AGREEMENT

-

2

.4

%

36,446,000

(f)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

36,446,000‌

TOTAL

REPURCHASE

AGREEMENT

36,446,000‌

TREASURY

DEBT

-

3

.8

%

12,000,000

United

States

Treasury

Bill

0

.000

11/02/23

11,998,249‌

15,000,000

United

States

Treasury

Bill

0

.000

11/07/23

14,986,800‌

6,500,000

United

States

Treasury

Bill

0

.000

11/14/23

6,487,586‌

10,000,000

United

States

Treasury

Bill

0

.000

11/30/23

9,957,394‌

9,610,000

United

States

Treasury

Bill

0

.000

12/19/23

9,541,939‌

5,955,000

United

States

Treasury

Bill

0

.000

01/04/24

5,898,891‌

TOTAL

TREASURY

DEBT

58,870,859‌

TOTAL

SHORT-TERM

INVESTMENTS

133,911,227‌

(Cost

$133,906,615)

SHARES

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.1%

1,094,907

(g)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

1,094,907‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

1,094,907‌

(Cost

$1,094,907)

TOTAL

INVESTMENTS

-

99.8%

1,533,690,065‌

(Cost

$1,614,270,467)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.2%

3,771,619‌

NET

ASSETS

-

100.0%

$

1,537,461,684‌

ADR

American

Depositary

Receipt

(a)

Non-income

producing

(b)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(c)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$11,859,955.

(d)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(e)

Affiliated

holding

(f)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$36,446,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$37,174,948.

(g)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Portfolio

of

Investments

International

Equity

Fund

October

31,

2023

111

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

97.6%

COMMON

STOCKS

-

97.6%

AUSTRALIA

-

6

.2

%

4,409,316

BHP

Billiton

Ltd

$

124,816,581‌

1,626,634

Commonwealth

Bank

of

Australia

100,063,769‌

21,867,282

Glencore

plc

115,827,137‌

1,973,979

Woodside

Energy

Group

Ltd

42,992,853‌

TOTAL

AUSTRALIA

383,700,340‌

BRAZIL

-

1

.6

%

12,985,898

Banco

Bradesco

S.A.

(Preference)

36,033,662‌

11,291,700

Itau

Unibanco

Holding

S.A.

60,067,118‌

TOTAL

BRAZIL

96,100,780‌

CHINA

-

0

.6

%

454,339

(a)

Alibaba

Group

Holding

Ltd

(ADR)

37,501,141‌

TOTAL

CHINA

37,501,141‌

DENMARK

-

5

.9

%

562,819

DSV

AS

84,108,176‌

2,908,610

Novo

Nordisk

A.S.

280,611,661‌

TOTAL

DENMARK

364,719,837‌

FINLAND

-

1

.3

%

7,604,280

Nordea

Bank

Abp

80,122,039‌

TOTAL

FINLAND

80,122,039‌

FRANCE

-

12

.1

%

1,212,796

Airbus

SE

162,607,013‌

739,187

BNP

Paribas

S.A.

42,506,214‌

806,998

Compagnie

de

Saint-Gobain

43,928,258‌

634,786

Essilor

International

S.A.

114,949,230‌

184,288

Kering

74,950,207‌

113,954

LVMH

Moet

Hennessy

Louis

Vuitton

S.A.

81,583,126‌

2,115,120

Total

S.A.

141,411,620‌

748,225

Vinci

S.A.

82,734,543‌

TOTAL

FRANCE

744,670,211‌

GERMANY

-

6

.8

%

2,488,844

Bayer

AG.

107,539,360‌

1,468,810

Deutsche

Post

AG.

57,347,472‌

171,934

Dr

ING

hc

F

Porsche

AG.

15,069,160‌

698,214

HeidelbergCement

AG.

50,685,683‌

1,914,769

RWE

AG.

73,269,410‌

837,758

Siemens

AG.

111,169,522‌

TOTAL

GERMANY

415,080,607‌

HONG

KONG

-

0

.5

%

807,122

Hong

Kong

Exchanges

and

Clearing

Ltd

28,235,261‌

TOTAL

HONG

KONG

28,235,261‌

INDIA

-

0

.5

%

493,030

HDFC

Bank

Ltd

(ADR)

27,880,847‌

TOTAL

INDIA

27,880,847‌

INDONESIA

-

0

.5

%

89,296,195

Bank

Rakyat

Indonesia

27,921,482‌

TOTAL

INDONESIA

27,921,482‌

International

Equity

Fund

October

31,

2023

112

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

IRELAND

-

2

.1

%

2,432,992

CRH

plc

$

130,335,382‌

TOTAL

IRELAND

130,335,382‌

ITALY

-

2

.1

%

7,615,087

Enel

S.p.A.

48,337,379‌

1,513,150

Moncler

S.p.A

78,588,732‌

TOTAL

ITALY

126,926,111‌

JAPAN

-

20

.9

%

5,189,070

Daiichi

Sankyo

Co

Ltd

133,795,976‌

2,639,082

Hitachi

Ltd

167,282,376‌

17,967,289

Mitsubishi

UFJ

Financial

Group,

Inc

150,730,230‌

2,194,801

Nintendo

Co

Ltd

90,676,924‌

3,320,814

ORIX

Corp

60,393,438‌

2,452,267

Recruit

Holdings

Co

Ltd

70,313,108‌

2,517,500

SBI

Holdings,

Inc

54,163,836‌

1,148,103

Shiseido

Co

Ltd

36,412,626‌

2,051,167

Sony

Corp

170,531,656‌

3,442,814

Sumitomo

Mitsui

Financial

Group,

Inc

165,971,090‌

10,509,248

(a)

Toyota

Motor

Corp

183,846,043‌

TOTAL

JAPAN

1,284,117,303‌

KOREA,

REPUBLIC

OF

-

1

.5

%

1,857,091

Samsung

Electronics

Co

Ltd

92,436,478‌

TOTAL

KOREA,

REPUBLIC

OF

92,436,478‌

MEXICO

-

0

.6

%

336,815

Fomento

Economico

Mexicano

SAB

de

C.V.

(ADR)

38,198,189‌

TOTAL

MEXICO

38,198,189‌

NETHERLANDS

-

9

.9

%

212,458

ASML

Holding

NV

127,712,850‌

1,109,732

Heineken

NV

99,702,164‌

8,138,611

ING

Groep

NV

104,341,266‌

22,391,543

Koninklijke

KPN

NV

75,261,968‌

6,255,299

Shell

plc

201,588,425‌

TOTAL

NETHERLANDS

608,606,673‌

NORWAY

-

1

.7

%

3,199,934

Equinor

ASA

107,272,015‌

TOTAL

NORWAY

107,272,015‌

SPAIN

-

1

.8

%

14,452,749

Banco

Bilbao

Vizcaya

Argentaria

S.A.

113,703,094‌

TOTAL

SPAIN

113,703,094‌

SWITZERLAND

-

5

.2

%

202,340

Lonza

Group

AG.

70,860,260‌

1,665,274

Novartis

AG.

155,902,214‌

194,536

Zurich

Insurance

Group

AG

92,403,148‌

TOTAL

SWITZERLAND

319,165,622‌

TAIWAN

-

1

.2

%

843,801

Taiwan

Semiconductor

Manufacturing

Co

Ltd

(ADR)

72,828,464‌

TOTAL

TAIWAN

72,828,464‌

UNITED

KINGDOM

-

9

.5

%

1,594,898

Ashtead

Group

plc

91,471,284‌

1,813,624

AstraZeneca

plc

227,072,269‌

18,490,434

BP

plc

112,902,825‌

944,500

Diageo

plc

35,717,187‌

908,417

Reckitt

Benckiser

Group

plc

60,779,387‌

113

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UNITED

KINGDOM—continued

1,134,404

Unilever

plc

$

53,726,077‌

TOTAL

UNITED

KINGDOM

581,669,029‌

UNITED

STATES

-

5

.1

%

23,991,588

Haleon

plc

96,160,328‌

414,281

Linde

plc

158,280,110‌

546,779

Nestle

S.A.

58,963,951‌

TOTAL

UNITED

STATES

313,404,389‌

TOTAL

COMMON

STOCKS

5,994,595,294‌

(Cost

$5,155,417,763)

TOTAL

LONG-TERM

INVESTMENTS

5,994,595,294‌

(Cost

$5,155,417,763)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

1.5%

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

$

375,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

12/12/23

372,801‌

10,000,000

FHLB

0

.000

01/05/24

9,906,934‌

TOTAL

GOVERNMENT

AGENCY

DEBT

10,279,735‌

REPURCHASE

AGREEMENT

-

0

.9

%

58,391,000

(b)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

58,391,000‌

TOTAL

REPURCHASE

AGREEMENT

58,391,000‌

TREASURY

DEBT

-

0

.4

%

9,985,000

United

States

Treasury

Bill

0

.000

11/02/23

9,983,543‌

10,000,000

United

States

Treasury

Bill

0

.000

11/07/23

9,991,200‌

5,955,000

United

States

Treasury

Bill

0

.000

01/04/24

5,898,890‌

TOTAL

TREASURY

DEBT

25,873,633‌

TOTAL

SHORT-TERM

INVESTMENTS

94,544,368‌

(Cost

$94,541,475)

TOTAL

INVESTMENTS

-

99.1%

6,089,139,662‌

(Cost

$5,249,959,238)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.9%

53,008,754‌

NET

ASSETS

-

100.0%

$

6,142,148,416‌

ADR

American

Depositary

Receipt

(a)

Non-income

producing

(b)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$58,391,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$59,558,844.

International

Opportunities

Fund

October

31,

2023

Portfolio

of

Investments

114

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

96.4%

COMMON

STOCKS

-

96.4%

AUSTRALIA

-

3

.3

%

1,767,689

Australia

&

New

Zealand

Banking

Group

Ltd

$

27,874,646‌

146,823

(a)

Flutter

Entertainment

plc

23,090,166‌

561,039

Mineral

Resources

Ltd

20,678,336‌

TOTAL

AUSTRALIA

71,643,148‌

BRAZIL

-

4

.8

%

4,563,500

Itau

Unibanco

Holding

S.A.

24,275,910‌

2,267,000

Localiza

Rent

A

Car

22,873,465‌

14,981,800

(a)

Magazine

Luiza

S.A.

3,952,158‌

2,883,217

(a)

NU

Holdings

Ltd

23,642,379‌

3,106,800

(a)

Petro

Rio

S.A.

29,393,437‌

TOTAL

BRAZIL

104,137,349‌

CANADA

-

13

.2

%

956,734

Alimentation

Couche-Tard,

Inc

52,081,377‌

418,013

(b)

Bank

of

Montreal

31,587,224‌

1,007,853

Cameco

Corp

41,229,854‌

641,780

Dollarama,

Inc

43,826,621‌

1,152,197

(a)

Lightspeed

Commerce,

Inc

14,382,210‌

2,163,172

(a)

NexGen

Energy

Ltd

13,056,246‌

370,591

Nutrien

Ltd

19,903,817‌

881,801

Parex

Resources,

Inc

16,901,583‌

584,994

(a)

Shopify,

Inc

(Class

A)

27,626,650‌

846,253

Suncor

Energy,

Inc

27,405,965‌

TOTAL

CANADA

288,001,547‌

CHINA

-

3

.6

%

1,299,407

JD.com,

Inc

16,519,565‌

1,275,550

(a),(c)

Meituan

18,080,927‌

1,172,600

Tencent

Holdings

Ltd

43,396,437‌

TOTAL

CHINA

77,996,929‌

DENMARK

-

4

.9

%

205,162

Carlsberg

AS

(Class

B)

24,449,795‌

853,876

Novo

Nordisk

A.S.

82,378,718‌

TOTAL

DENMARK

106,828,513‌

FRANCE

-

5

.3

%

175,402

Essilor

International

S.A.

31,762,397‌

97,529

L'Oreal

S.A.

40,994,409‌

58,810

LVMH

Moet

Hennessy

Louis

Vuitton

S.A.

42,103,863‌

TOTAL

FRANCE

114,860,669‌

GERMANY

-

5

.3

%

509,065

Bayer

AG.

21,995,965‌

228,509

Beiersdorf

AG.

30,053,501‌

164,525

Deutsche

Boerse

AG.

27,080,240‌

221,008

Dr

ING

hc

F

Porsche

AG.

19,370,252‌

796,928

(a)

HelloFresh

SE

17,431,358‌

TOTAL

GERMANY

115,931,316‌

INDIA

-

1

.7

%

946,652

Axis

Bank

Ltd

11,170,310‌

411,768

(c)

LTIMindtree

Ltd

25,052,281‌

TOTAL

INDIA

36,222,591‌

115

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INDONESIA

-

1

.2

%

86,868,400

Bank

Rakyat

Indonesia

$

27,162,350‌

TOTAL

INDONESIA

27,162,350‌

IRELAND

-

3

.1

%

731,447

CRH

plc

39,183,615‌

375,292

Keywords

Studios

plc

5,959,243‌

686,571

Smurfit

Kappa

Group

plc

22,379,423‌

TOTAL

IRELAND

67,522,281‌

ITALY

-

5

.5

%

734,877

Amplifon

S.p.A.

20,770,157‌

2,626,022

Davide

Campari-Milano

NV

29,027,428‌

156,744

Ferrari

NV

47,447,019‌

461,797

Moncler

S.p.A

23,984,430‌

TOTAL

ITALY

121,229,034‌

JAPAN

-

11

.3

%

730,800

BayCurrent

Consulting,

Inc

18,348,011‌

126,900

Disco

Corp

22,410,414‌

273,900

GMO

Payment

Gateway,

Inc

10,939,360‌

2,033,100

MonotaRO

Co

Ltd

16,248,502‌

1,448,100

Murata

Manufacturing

Co

Ltd

24,805,051‌

2,169,500

Nikon

Corp

20,598,116‌

844,000

Oriental

Land

Co

Ltd

27,299,485‌

281,400

PALTAC

Corp

9,121,998‌

878,500

Recruit

Holdings

Co

Ltd

25,188,964‌

131,499

(a)

SHIFT,

Inc

23,859,120‌

981,700

TechnoPro

Holdings,

Inc

19,448,300‌

218,600

Tokyo

Electron

Ltd

28,885,291‌

TOTAL

JAPAN

247,152,612‌

LUXEMBOURG

-

0

.4

%

236,839

(a),(b)

BK

LC

Lux

Finco

2

Sarl

9,253,300‌

TOTAL

LUXEMBOURG

9,253,300‌

NETHERLANDS

-

5

.2

%

18,806

(a),(c)

Adyen

NV

12,684,381‌

100,114

ASML

Holding

NV

60,180,574‌

3,246,557

ING

Groep

NV

41,622,565‌

TOTAL

NETHERLANDS

114,487,520‌

NORWAY

-

2

.7

%

976,076

Aker

BP

ASA

28,132,078‌

906,566

Equinor

ASA

30,390,990‌

TOTAL

NORWAY

58,523,068‌

PHILIPPINES

-

1

.0

%

7,992,434

BDO

Unibank,

Inc

17,990,751‌

5,869,880

Robinsons

Retail

Holdings,

Inc

4,241,542‌

TOTAL

PHILIPPINES

22,232,293‌

PORTUGAL

-

1

.2

%

1,168,319

Jeronimo

Martins

SGPS

S.A.

26,935,445‌

TOTAL

PORTUGAL

26,935,445‌

SPAIN

-

1

.3

%

515,490

Amadeus

IT

Holding

S.A.

29,420,463‌

142,139

(a),(b),(d)

Let's

GOWEX

S.A.

1,504‌

TOTAL

SPAIN

29,421,967‌

International

Opportunities

Fund

October

31,

2023

116

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SWEDEN

-

0

.8

%

197,224

(c)

Evolution

AB

$

17,573,725‌

TOTAL

SWEDEN

17,573,725‌

SWITZERLAND

-

3

.2

%

7,015

Givaudan

S.A.

23,349,571‌

72,366

Lonza

Group

AG.

25,342,857‌

867,359

(a)

On

Holding

AG.

22,265,105‌

TOTAL

SWITZERLAND

70,957,533‌

TAIWAN

-

3

.8

%

1,197,540

Dadi

Early-Childhood

Education

Group

Ltd

1,836,831‌

1,281,000

Eclat

Textile

Co

Ltd

20,388,697‌

2,507,349

Hota

Industrial

Manufacturing

Co

Ltd

4,798,686‌

2,938,000

Taiwan

Semiconductor

Manufacturing

Co

Ltd

47,984,903‌

97,920

Taiwan

Semiconductor

Manufacturing

Co

Ltd

(ADR)

8,451,475‌

TOTAL

TAIWAN

83,460,592‌

UNITED

KINGDOM

-

8

.1

%

781,329

Ashtead

Group

plc

44,811,121‌

3,799,007

Beazley

plc

23,798,353‌

1,082,864

Compass

Group

plc

27,300,471‌

5,388,784

(a)

Darktrace

plc

22,995,252‌

400,852

Dechra

Pharmaceuticals

plc

18,579,077‌

2,133,758

Electrocomponents

plc

17,608,674‌

737,259

Fevertree

Drinks

plc

8,996,854‌

8,564,778

Tritax

Big

Box

REIT

plc

14,259,650‌

TOTAL

UNITED

KINGDOM

178,349,452‌

UNITED

STATES

-

5

.5

%

173,691

Ferguson

plc

26,089,039‌

89,522

Linde

plc

34,202,756‌

74,846

(a)

Lululemon

Athletica,

Inc

29,450,404‌

119,158

Roche

Holding

AG.

30,708,156‌

TOTAL

UNITED

STATES

120,450,355‌

TOTAL

COMMON

STOCKS

2,110,333,589‌

(Cost

$1,847,855,931)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

AUSTRALIA

-

0

.0

%

211,504

(b)

PointsBet

Holdings

Ltd

07/08/24

1,342‌

TOTAL

AUSTRALIA

1,342‌

BRAZIL

-

0

.0

%

12,912

Localiza

Rent

a

Car

S.A.

11/10/23

17,927‌

TOTAL

BRAZIL

17,927‌

TOTAL

RIGHTS/WARRANTS

19,269‌

(Cost

$0)

TOTAL

LONG-TERM

INVESTMENTS

2,110,352,858‌

(Cost

$1,847,855,931)

117

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

2.6%

GOVERNMENT

AGENCY

DEBT

-

1

.7

%

$

10,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

11/02/23

$

9,998,574‌

8,750,000

FHLB

0

.000

11/03/23

8,747,504‌

9,844,000

FHLB

0

.000

12/12/23

9,786,272‌

9,685,000

FHLB

0

.000

01/05/24

9,594,865‌

TOTAL

GOVERNMENT

AGENCY

DEBT

38,127,215‌

TREASURY

DEBT

-

0

.9

%

2,000,000

United

States

Treasury

Bill

0

.000

11/02/23

1,999,708‌

10,000,000

United

States

Treasury

Bill

0

.000

11/07/23

9,991,200‌

6,500,000

United

States

Treasury

Bill

0

.000

11/14/23

6,487,586‌

TOTAL

TREASURY

DEBT

18,478,494‌

TOTAL

SHORT-TERM

INVESTMENTS

56,605,709‌

(Cost

$56,601,190)

SHARES

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.4%

8,523,294

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

8,523,294‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

8,523,294‌

(Cost

$8,523,294)

TOTAL

INVESTMENTS

-

99.4%

2,175,481,861‌

(Cost

$1,912,980,415)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.6%

14,158,030‌

NET

ASSETS

-

100.0%

$

2,189,639,891‌

ADR

American

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$39,192,664.

(c)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(d)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Quant

International

Small-Cap

Equity

Fund

October

31,

2023

Portfolio

of

Investments

118

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.6%

COMMON

STOCKS

-

99.6%

AUSTRALIA

-

7.1%

1,489,572

Abacus

Property

Group

$

907,114‌

1,318,077

(a)

Abacus

Storage

King

831,941‌

224,993

Altium

Ltd

5,675,117‌

305,792

AUB

Group

Ltd

5,251,518‌

678,502

Bapcor

Ltd

2,309,520‌

5,069,951

Beach

Petroleum

Ltd

4,993,658‌

1,517,907

Charter

Hall

Long

Wale

REIT

2,916,104‌

218,003

Charter

Hall

Social

Infrastructure

REIT

330,344‌

1,629,747

(b)

Coronado

Global

Resources,

Inc

1,792,763‌

657,840

CSR

Ltd

2,350,588‌

1,552,258

Deterra

Royalties

Ltd

4,638,157‌

294,576

Growthpoint

Properties

Australia

Ltd

369,839‌

1,064,703

HomeCo

Daily

Needs

REIT

726,058‌

727,763

Iress

Market

Technology

Ltd

2,320,639‌

299,935

(a)

Judo

Capital

Holdings

Ltd

161,490‌

161,032

Jumbo

Interactive

Ltd

1,420,225‌

1,504,766

Macquarie

CountryWide

Trust

2,923,963‌

2,256,660

OceanaGold

Corp

3,775,339‌

386,117

(a)

Omni

Bridgeway

Ltd

372,914‌

2,521,176

Perenti

Ltd

1,704,761‌

4,482,640

Perseus

Mining

Ltd

4,789,517‌

321,612

Premier

Investments

Ltd

4,663,467‌

1,495,449

(a)

Silver

Lake

Resources

Ltd

983,637‌

322,173

(a)

SiteMinder

Ltd

835,270‌

3,969,848

TABCORP

Holdings

Ltd

1,958,839‌

534,947

Technology

One

Ltd

4,960,986‌

706,384

(a)

Telix

Pharmaceuticals

Ltd

3,985,256‌

1,210,535

(a),(c)

Webjet

Ltd

4,704,119‌

356,001

Worley

Ltd

3,721,446‌

TOTAL

AUSTRALIA

76,374,589‌

AUSTRIA

-

0.8%

131,886

(b)

BAWAG

Group

AG.

5,874,253‌

21,376

Porr

AG.

256,087‌

26,757

(a)

Raiffeisen

International

Bank

Holding

AG.

387,649‌

203,115

Uniqa

Versicherungen

AG.

1,640,023‌

TOTAL

AUSTRIA

8,158,012‌

BELGIUM

-

0.5%

2,931

Colruyt

S.A.

121,301‌

223,373

Euronav

NV

3,991,969‌

41,034

Fagron

NV

721,134‌

5,642

(a),(b)

X-Fab

Silicon

Foundries

SE

50,982‌

TOTAL

BELGIUM

4,885,386‌

BRAZIL

-

1.2%

144,850

Blau

Farmaceutica

S.A.

436,697‌

1,071,400

Bradespar

S.A.

4,747,375‌

1,560,200

(a)

Embraer

S.A.

5,443,332‌

685,603

Iochpe-Maxion

S.A.

1,533,912‌

466,600

Jalles

Machado

S.A.

764,440‌

366,045

(b)

Locaweb

Servicos

de

Internet

S.A.

394,959‌

TOTAL

BRAZIL

13,320,715‌

CANADA

-

5.4%

193,232

Atco

Ltd

4,953,595‌

9,673

(a)

ATS

Corp

325,747‌

119

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CANADA—continued

89,837

Badger

Infrastructure

Solutions

Ltd

$

2,379,458‌

27,303

Brookfield

Reinsurance

Ltd

800,927‌

4,279

(c)

Calian

Group

Ltd

153,263‌

66,613

(c)

Cardinal

Energy

Ltd

356,422‌

281,283

(a)

Celestica,

Inc

6,565,806‌

1,349,047

(c)

Converge

Technology

Solutions

Corp

2,684,961‌

185,922

Definity

Financial

Corp

5,140,256‌

63,251

(a),(c)

dentalcorp

Holdings

Ltd

250,860‌

234,977

Dundee

Precious

Metals,

Inc

1,540,249‌

764,148

Enerflex

Ltd

3,041,714‌

114,793

(c)

Exchange

Income

Corp

3,530,500‌

249,069

Finning

International,

Inc

6,674,169‌

552,415

(a)

GoGold

Resources,

Inc

509,891‌

173,302

(a)

Interfor

Corp

2,138,235‌

45,251

(b)

Jamieson

Wellness,

Inc

743,007‌

8,204

(a)

Kinaxis,

Inc

801,143‌

345,964

Martinrea

International,

Inc

2,851,537‌

33,289

(b)

Minto

Apartment

Real

Estate

Investment

Trust

312,066‌

378,983

(a)

Shawcor

Ltd

3,968,151‌

119,723

Slate

Grocery

REIT

850,385‌

659,728

Superior

Plus

Corp

4,433,867‌

10,725

Topaz

Energy

Corp

163,959‌

264,623

(a)

Torex

Gold

Resources,

Inc

2,551,296‌

TOTAL

CANADA

57,721,464‌

CHILE

-

0.2%

15,740,735

Colbun

S.A.

2,285,308‌

369,871

Inversiones

Aguas

Metropolitanas

S.A.

265,014‌

TOTAL

CHILE

2,550,322‌

CHINA

-

3.0%

3,286,000

(a)

ANE

Cayman,

Inc

2,508,413‌

393,000

Beijing

Tong

Ren

Tang

Chinese

Medicine

Co

Ltd

590,279‌

4,908,800

China

Education

Group

Holdings

Ltd

4,078,070‌

1,354,000

China

Foods

Ltd

468,883‌

2,582,000

(b)

China

New

Higher

Education

Group

Ltd

644,629‌

746,000

China

Oriental

Group

Co

Ltd

114,667‌

724,000

China

Shineway

Pharmaceutical

Group

Ltd

642,092‌

2,001,749

China

XLX

Fertiliser

Ltd

870,551‌

4,565,760

(a),(c),(d)

China

Zhongwang

Holdings

Ltd

5,835‌

8,258,000

Citic

Resources

Holdings

Ltd

342,973‌

35,837

(a),(b)

Cloud

Music,

Inc

407,504‌

1,394,000

COSCO

SHIPPING

International

Hong

Kong

Co

Ltd

527,463‌

2,078,000

CSSC

Hong

Kong

Shipping

Co

Ltd

366,460‌

1,416,000

Gemdale

Properties

&

Investment

Corp

Ltd

41,949‌

2,173,000

(b)

Greentown

Management

Holdings

Co

Ltd

1,601,390‌

1,202,000

Harbin

Power

Equipment

345,750‌

160,820

(c)

Hopson

Development

Holdings

Ltd

94,165‌

1,761,500

(a),(c)

HUTCHMED

China

Ltd

7,083,150‌

5,958,960

(a),(b),(c)

iDreamSky

Technology

Holdings

Ltd

1,938,423‌

14,222,200

(c)

Jinchuan

Group

International

Resources

Co

Ltd

865,994‌

462,500

JNBY

Design

Ltd

563,417‌

3,074,000

Kinetic

Development

Group

Ltd

184,631‌

4,205,000

Lonking

Holdings

Ltd

649,591‌

2,482,000

Sinopec

Engineering

Group

Co

Ltd

1,240,412‌

2,010,000

Sinopec

Kantons

Holdings

Ltd

791,131‌

173,000

Tong

Ren

Tang

Technologies

Co

Ltd

131,935‌

127,000

Xinhua

Winshare

Publishing

and

Media

Co

Ltd

106,761‌

4,960,000

Yangzijiang

Shipbuilding

Holdings

Ltd

5,257,517‌

84,000

Zengame

Technology

Holding

Ltd

37,804‌

TOTAL

CHINA

32,501,839‌

Quant

International

Small-Cap

Equity

Fund

October

31,

2023

120

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

COLOMBIA

-

0.1%

67,965

(a)

Frontera

Energy

Corp

$

576,361‌

TOTAL

COLOMBIA

576,361‌

CZECH

REPUBLIC

-

0.0%

560

Philip

Morris

CR

AS.

385,417‌

TOTAL

CZECH

REPUBLIC

385,417‌

DENMARK

-

1.2%

1,020,543

Alm

Brand

AS

1,477,023‌

13,599

Cementir

Holding

NV

113,242‌

81,541

D/S

Norden

4,632,861‌

37,363

H

Lundbeck

A.S.

169,020‌

118,075

ISS

A.S.

1,708,839‌

1,185

(a)

Jyske

Bank

83,512‌

18,931

Per

Aarsleff

Holding

A.S.

828,047‌

59,062

(b)

Scandinavian

Tobacco

Group

A.S.

876,980‌

2,680

Solar

Holdings

AS

(B

Shares)

159,931‌

7,912

Spar

Nord

Bank

A.S.

119,880‌

57,877

Sydbank

AS

2,514,157‌

TOTAL

DENMARK

12,683,492‌

EGYPT

-

0.2%

707,979

Abou

Kir

Fertilizers

&

Chemical

Industries

1,765,972‌

TOTAL

EGYPT

1,765,972‌

FINLAND

-

0.3%

161,785

Kesko

Oyj

(B

Shares)

2,736,025‌

TOTAL

FINLAND

2,736,025‌

FRANCE

-

1.8%

3,671,295

(a)

CGG

S.A.

2,597,705‌

13,435

Cie

des

Alpes

188,749‌

128,975

Cie

Plastic

Omnium

SA

1,450,197‌

266,864

Derichebourg

1,156,791‌

15,460

Inter

Parfums

S.A.

730,297‌

170,917

Rexel

S.A.

3,490,599‌

7,063

Sopra

Group

S.A.

1,268,064‌

256,884

SPIE

S.A.

6,755,409‌

2,510

Trigano

S.A.

329,605‌

32,644

Vicat

S.A.

1,002,280‌

1,211

Wavestone

55,087‌

TOTAL

FRANCE

19,024,783‌

GEORGIA

-

0.0%

15,690

TBC

Bank

Group

plc

512,040‌

TOTAL

GEORGIA

512,040‌

GERMANY

-

3.4%

80,029

Aixtron

AG.

2,248,875‌

1,343

Amadeus

Fire

AG

155,081‌

25,748

Aurubis

AG.

2,122,586‌

69,848

CANCOM

SE

1,743,847‌

1,483

Cewe

Stiftung

&

Co

KGAA

134,590‌

27,880

CompuGroup

Medical

SE

&

Co

KgaA

1,022,274‌

130,013

Deutz

AG.

526,918‌

45,637

Eckert

&

Ziegler

Strahlen-

und

Medizintechnik

AG.

1,800,349‌

23,603

Elmos

Semiconductor

SE

1,548,845‌

18,223

ElringKlinger

AG.

102,832‌

136,002

Hensoldt

AG.

4,030,039‌

23,913

Hochtief

AG.

2,477,200‌

2,259

Hornbach

Holding

AG.

&

Co

KGaA

134,871‌

103,390

Hugo

Boss

AG.

6,046,762‌

42,162

(a)

Ionos

SE

557,152‌

121

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

GERMANY—continued

7,478

(b)

JOST

Werke

SE

$

343,140‌

148,756

KION

Group

AG.

4,564,143‌

161,919

Kloeckner

&

Co

AG.

1,005,238‌

32,673

(a),(b)

Montana

Aerospace

AG.

393,128‌

77,628

(a)

PVA

TePla

AG.

1,180,254‌

308,262

Schaeffler

AG.

1,599,898‌

255,828

(a)

TUI

AG.

1,293,000‌

49,511

Wacker

Construction

Equipment

AG.

908,546‌

TOTAL

GERMANY

35,939,568‌

GREECE

-

0.2%

123,643

(a)

Aegean

Airlines

S.A.

1,352,748‌

56,714

Hellenic

Petroleum

S.A.

415,863‌

273,911

Holding

CO

ADMIE

IPTO

S.A.

580,498‌

TOTAL

GREECE

2,349,109‌

HONG

KONG

-

0.6%

278,500

Cafe

de

Coral

Holdings

Ltd

350,766‌

2,294,000

(a),(c)

China

High

Speed

Transmission

Equipment

Group

Co

Ltd

536,551‌

2,132,000

Digital

China

Holdings

Ltd

585,123‌

1,066,200

Far

East

Consortium

219,405‌

99,000

Johnson

Electric

Holdings

Ltd

122,810‌

550,000

Luk

Fook

Holdings

International

Ltd

1,364,438‌

587,000

PCCW

Ltd

287,300‌

89,000

SmarTone

Telecommunications

Holding

Ltd

46,404‌

467,500

Stella

International

Holdings

Ltd

528,124‌

137,000

Texhong

International

Group

Ltd

74,694‌

3,594,000

Truly

International

Holdings

368,872‌

177,300

Vtech

Holdings

Ltd

1,031,677‌

1,240,000

Wasion

Holdings

Ltd

458,517‌

TOTAL

HONG

KONG

5,974,681‌

INDIA

-

8.6%

174,029

Amara

Raja

Batteries

Ltd

1,281,420‌

235,365

Astral

Ltd

5,232,071‌

3,165

AstraZeneca

Pharma

India

Ltd

177,697‌

103,292

Bajaj

Electricals

Ltd

1,268,603‌

103,292

(a),(d)

Bajel

Projects

Ltd

145,090‌

381,883

Bharat

Dynamics

Ltd

4,471,821‌

692,204

Brightcom

Group

Ltd

139,258‌

50,125

Caplin

Point

Laboratories

Ltd

617,283‌

1,042,518

Castrol

India

Ltd

1,704,981‌

1,544,663

Crompton

Greaves

Consumer

Electricals

Ltd

5,231,754‌

6,779

Dixon

Technologies

India

Ltd

415,493‌

262,601

Emami

Ltd

1,608,701‌

7,858

ESAB

India

Ltd

546,544‌

230,305

Finolex

Cables

Ltd

2,481,963‌

320,724

Finolex

Industries

Ltd

740,350‌

51,997

Glenmark

Life

Sciences

Ltd

390,479‌

71,475

GMM

Pfaudler

Ltd

1,489,205‌

1,172,683

Greaves

Cotton

Ltd

1,770,642‌

32,309

Grindwell

Norton

Ltd

832,019‌

422,162

Gujarat

Narmada

Valley

Fertilizers

&

Chemicals

Ltd

3,507,422‌

2,998,236

(b)

Indian

Energy

Exchange

Ltd

4,534,294‌

22,137

Ingersoll

Rand

India

Ltd

747,324‌

948,376

Jamna

Auto

Industries

Ltd

1,228,102‌

1,069,789

Jindal

Saw

Ltd

5,692,054‌

215,101

KPIT

Technologies

Ltd

3,147,335‌

8,650

Linde

India

Ltd

622,643‌

4,996,818

National

Aluminium

Co

Ltd

5,532,712‌

7,940,673

NBCC

India

Ltd

6,258,111‌

3,464,528

NCC

Ltd

6,014,838‌

Quant

International

Small-Cap

Equity

Fund

October

31,

2023

122

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INDIA—continued

79,182

Oracle

Financial

Services

Software

Ltd

$

3,689,714‌

8,028

Procter

&

Gamble

Health

Ltd

492,004‌

29,716

Ratnamani

Metals

&

Tubes

Ltd

987,192‌

1,393,010

REC

Ltd

4,814,942‌

38,870

Relaxo

Footwears

Ltd

419,186‌

334,595

(a)

Reliance

Energy

Ltd

680,480‌

137,985

RITES

Ltd

748,726‌

6,965

Sanofi

India

Ltd

632,511‌

7,535

SKF

India

Ltd

444,401‌

2,698

Sonata

Software

Ltd

37,382‌

102,202

Supreme

Industries

Ltd

5,314,173‌

986,126

(a)

Triveni

Turbine

Ltd

4,254,516‌

332,583

V-Guard

Industries

Ltd

1,196,773‌

5

VST

Industries

Ltd

193‌

37,077

Zydus

Wellnes

Ltd

682,034‌

TOTAL

INDIA

92,224,436‌

INDONESIA

-

0.7%

4,440,300

Bank

Pembangunan

Daerah

Jawa

Timur

Tbk

PT

169,114‌

23,076,160

(a)

Energi

Mega

Persada

Tbk

PT

354,459‌

3,762,000

First

Pacific

Co

1,424,163‌

10,368,445

Golden

Agri-Resources

Ltd

2,044,685‌

8,162,300

Indika

Energy

Tbk

PT

932,614‌

28,824,237

Industri

Jamu

Dan

Farmasi

Sido

Muncul

Tbk

PT

925,424‌

7,038,000

Perusahaan

Perkebunan

London

Sumatra

Indonesia

Tbk

PT

405,399‌

14,934,600

Sawit

Sumbermas

Sarana

Tbk

PT

1,076,495‌

TOTAL

INDONESIA

7,332,353‌

IRELAND

-

0.2%

628,206

Cairn

Homes

plc

741,850‌

1,015,614

(a),(b)

Glenveagh

Properties

plc

980,055‌

91,725

Origin

Enterprises

plc

304,750‌

TOTAL

IRELAND

2,026,655‌

ISRAEL

-

2.2%

20,871

(a)

Camtek

Ltd

1,087,511‌

906

Carasso

Motors

Ltd

2,665‌

143,841

First

International

Bank

Of

Israel

Ltd

4,896,322‌

9,317

Formula

Systems

1985

Ltd

528,138‌

207,401

Harel

Insurance

Investments

&

Financial

Services

Ltd

1,332,086‌

32,265

Ituran

Location

and

Control

Ltd

797,913‌

7,309

M

Yochananof

&

Sons

Ltd

262,560‌

26,182

Magic

Software

Enterprises

Ltd

260,784‌

48,447

(a)

Nova

Measuring

Instruments

Ltd

4,639,129‌

245,243

Plus500

Ltd

4,205,915‌

19,016

Rami

Levy

Chain

Stores

Hashikma

Marketing

2006

Ltd

1,026,885‌

44,299

Sapiens

International

Corp

NV

1,120,593‌

8,958

(a)

Scope

Metals

Group

Ltd

230,709‌

513,666

(a)

Shufersal

Ltd

2,168,503‌

14,914

(a)

SimilarWeb

Ltd

75,465‌

52,683

(a)

WalkMe

Ltd

494,693‌

TOTAL

ISRAEL

23,129,871‌

ITALY

-

2.0%

139,310

ACEA

S.p.A.

1,677,443‌

32,225

Ascopiave

S.p.A.

71,604‌

338,197

BPER

Banca

1,100,543‌

106,329

Credito

Emiliano

S.p.A.

862,179‌

204,092

d'Amico

International

Shipping

S.A.

1,071,111‌

87,031

Danieli

&

Co

S.p.A.

(RSP)

1,758,492‌

10,652

Interpump

Group

S.p.A.

445,406‌

1,824,856

Iride

S.p.A.

3,656,887‌

123

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ITALY—continued

663,987

(b)

OVS

S.p.A

$

1,175,933‌

525,660

Piaggio

&

C

S.p.A.

1,413,552‌

22,645

Sesa

S.p.A

2,287,424‌

1,070,252

Unipol

Gruppo

S.p.A

5,798,177‌

29,731

Zignago

Vetro

S.p.A.

388,826‌

TOTAL

ITALY

21,707,577‌

JAPAN

-

22.3%

37,800

Adventure,

Inc

1,276,607‌

90,000

Aichi

Corp

538,823‌

105,300

Aida

Engineering

Ltd

622,379‌

389,400

Alfresa

Holdings

Corp

6,168,322‌

662,000

Amada

Co

Ltd

6,421,701‌

86,200

AOKI

Holdings,

Inc

564,633‌

30,500

Argo

Graphics,

Inc

668,420‌

80,900

Autobacs

Seven

Co

Ltd

832,137‌

47,800

Avex

Group

Holdings,

Inc

436,529‌

35,200

C

Uyemura

&

Co

Ltd

1,911,189‌

60,900

(a)

Canon

Electronics,

Inc

776,405‌

18,700

Chofu

Seisakusho

Co

Ltd

266,522‌

68,800

Chudenko

Corp

1,119,648‌

202,600

Chugoku

Electric

Power

Co,

Inc

1,266,896‌

152,400

Coca-Cola

West

Japan

Co

Ltd

2,043,464‌

21,000

Comture

Corp

280,721‌

48,175

Daiki

Aluminium

Industry

Co

Ltd

398,788‌

34,700

Daiwa

Industries

Ltd

297,557‌

90,900

Digital

Arts,

Inc

2,507,373‌

62,200

Doutor

Nichires

Holdings

Co

Ltd

898,087‌

30,600

Eiken

Chemical

Co

Ltd

301,821‌

365,200

Electric

Power

Development

Co

5,598,763‌

82,200

FCC

Co

Ltd

975,387‌

332,975

Fields

Corp

3,625,230‌

302,300

Fuji

Machine

Manufacturing

Co

Ltd

4,551,987‌

31,800

Fujicco

Co

Ltd

410,324‌

7,300

Fukui

Computer

Holdings,

Inc

125,326‌

74,100

Future

Architect,

Inc

845,701‌

184,500

G-Tekt

Corp

2,153,235‌

281,700

(a)

GungHo

Online

Entertainment,

Inc

4,247,339‌

6,300

Hanwa

Co

Ltd

189,902‌

234,700

Heiwa

Corp

3,322,252‌

906,400

Hitachi

Zosen

Corp

4,728,308‌

22,999

Ichibanya

Co

Ltd

811,344‌

589,200

Iino

Kaiun

Kaisha

Ltd

4,226,155‌

88,200

Inaba

Denki

Sangyo

Co

Ltd

1,839,223‌

137,700

INFRONEER

Holdings,

Inc

1,452,577‌

106,100

Itochu

Enex

Co

Ltd

1,042,901‌

390,800

Jafco

Co

Ltd

4,209,235‌

34,800

Japan

Petroleum

Exploration

Co

1,191,608‌

287,700

JGC

Corp

3,543,595‌

105,300

Justsystems

Corp

1,876,492‌

130,400

(c)

Kanamoto

Co

Ltd

2,116,282‌

243,600

Kandenko

Co

Ltd

2,257,277‌

33,900

Kentucky

Fried

Chicken

Japan

Ltd

675,296‌

203,000

Kinden

Corp

3,074,931‌

113,700

Kitz

Corp

768,293‌

585,500

Kobe

Steel

Ltd

6,922,635‌

110,200

Mandom

Corp

1,010,829‌

15,700

Maxvalu

Tokai

Co

Ltd

310,250‌

126,300

MCJ

Co

Ltd

908,649‌

326,100

Mediceo

Paltac

Holdings

Co

Ltd

5,482,715‌

106,200

Meidensha

Corp

1,663,820‌

12,000

Melco

Holdings,

Inc

273,797‌

14,500

METAWATER

Co

Ltd

182,799‌

Quant

International

Small-Cap

Equity

Fund

October

31,

2023

124

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

136,600

Mimasu

Semiconductor

Industry

Co

Ltd

$

2,215,113‌

315,100

MIRAIT

ONE

corp

4,176,256‌

20,700

(c)

Mitsubishi

Research

Institute,

Inc

669,191‌

111,800

Mitsui

Mining

&

Smelting

Co

Ltd

2,903,067‌

34,000

Mitsui

Sugar

Co

Ltd

691,129‌

152,880

Monogatari

Corp

4,140,073‌

75,900

Morita

Holdings

Corp

778,648‌

38,435

MOS

Food

Services,

Inc

838,464‌

236,700

NET

One

Systems

Co

Ltd

3,612,733‌

54,400

Nihon

Unisys

Ltd

1,356,860‌

116,100

Nikkiso

Co

Ltd

739,516‌

12,700

Nippon

Carbon

Co

Ltd

372,010‌

61,700

Nippon

Ceramic

Co

Ltd

1,073,447‌

119,600

Nippon

Pillar

Packing

Co

Ltd

2,985,224‌

24,100

Nippon

Seiki

Co

Ltd

171,589‌

13,100

Nippon

Signal

Co

Ltd

81,008‌

63,000

Nippon

System

Development

Co

Ltd

1,096,129‌

447,700

Nipro

Corp

3,408,995‌

34,900

Nitta

Corp

788,044‌

42,500

Nittetsu

Mining

Co

Ltd

1,338,216‌

25,100

Noevir

Holdings

Co

Ltd

880,343‌

109,800

Nomura

Co

Ltd

632,184‌

5,200

Noritake

Co

Ltd

202,391‌

42,586

NS

Solutions

Corp

1,236,676‌

35,000

Obara

Corp

839,914‌

58,300

OBIC

Business

Consultants

Ltd

2,504,574‌

40,100

Ohsho

Food

Service

Corp

1,853,609‌

33,300

Oiles

Corp

421,681‌

193,900

Optorun

Co

Ltd

2,243,077‌

45,900

(a),(c)

PKSHA

Technology,

Inc

782,303‌

435,200

Pola

Orbis

Holdings,

Inc

4,371,458‌

127,600

Raito

Kogyo

Co

Ltd

1,651,638‌

709,400

Riso

Kyoiku

Co

Ltd

1,190,417‌

32,900

Ryoshoku

Ltd

867,505‌

129,700

Sanki

Engineering

Co

Ltd

1,507,566‌

144,600

Sankyo

Co

Ltd

6,009,268‌

44,100

Sanyo

Chemical

Industries

Ltd

1,172,431‌

112,800

SCREEN

Holdings

Co

Ltd

5,244,313‌

129,300

(c)

Shibaura

Machine

Co

Ltd

3,201,719‌

6,400

Shibuya

Corp

104,478‌

190,200

Shin-Etsu

Polymer

Co

Ltd

1,726,170‌

52,900

Shinko

Plantech

Co

Ltd

495,049‌

166,640

Shinwa

Kaiun

Kaisha

Ltd

4,736,827‌

91,197

Sky

Perfect

Jsat

Corp

422,100‌

36,900

Star

Micronics

Co

Ltd

443,617‌

479,600

Sumitomo

Dainippon

Pharma

Co

Ltd

1,464,534‌

41,000

Sumitomo

Densetsu

Co

Ltd

720,116‌

212,700

Suzuken

Co

Ltd

6,514,960‌

679,600

Systena

Corp

1,156,950‌

63,300

Taisho

Pharmaceutical

Holdings

Co

Ltd

2,506,558‌

182,350

Takara

Bio,

Inc

1,608,106‌

45,200

Takasago

Thermal

Engineering

Co

Ltd

892,456‌

194,100

Takeuchi

Manufacturing

Co

Ltd

5,537,885‌

80,600

Takiron

Co

Ltd

310,272‌

148,400

TechMatrix

Corp

1,466,582‌

32,700

Tenma

Corp

548,852‌

49,800

TKC

1,161,685‌

137,800

Tocalo

Co

Ltd

1,245,542‌

18,700

Tokai

Corp

(GIFU)

236,359‌

226,700

Tokyo

Steel

Manufacturing

Co

Ltd

2,620,220‌

41,000

Torii

Pharmaceutical

Co

Ltd

990,758‌

188,600

Toyo

Construction

Co

Ltd

1,538,869‌

77,600

Tsubakimoto

Chain

Co

1,961,592‌

125

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

120,200

UBE

Industries

Ltd

$

1,850,935‌

285,500

Universal

Entertainment

Corp

4,072,432‌

49,500

Wakita

&

Co

Ltd

495,563‌

18,600

Weathernews,

Inc

728,466‌

137,300

Yamato

Kogyo

Co

Ltd

6,578,150‌

36,000

Yamazen

Corp

291,653‌

21,900

Yodogawa

Steel

Works

Ltd

512,719‌

67,600

Yokogawa

Bridge

Holdings

Corp

1,117,393‌

42,900

Yurtec

Corp

279,430‌

148,500

Zenkoku

Hosho

Co

Ltd

4,748,773‌

35,500

Zuken,

Inc

887,076‌

TOTAL

JAPAN

238,434,385‌

KOREA,

REPUBLIC

OF

-

4.5%

122,346

Daewoo

International

Corp

4,563,523‌

62,016

Daewoong

Co

Ltd

685,238‌

60,953

Daishin

Securities

Co

Ltd

632,653‌

29,643

Daishin

Securities

Co

Ltd

PF

292,041‌

1,890

Doosan

Corp

104,273‌

157,893

Doosan

Infracore

Co

Ltd

783,434‌

16,770

DoubleUGames

Co

Ltd

514,571‌

278,753

(a)

Hanwha

General

Insurance

Co

Ltd

857,265‌

609,473

(a)

Hanwha

Investment

&

Securities

Co

Ltd

1,039,866‌

2,174,335

Hanwha

Life

Insurance

Co

Ltd

4,468,168‌

428,010

Hanwha

Systems

Co

Ltd

4,036,919‌

175,188

HPSP

Co

Ltd

4,063,695‌

199,453

Hyundai

Marine

&

Fire

Insurance

Co

Ltd

4,652,631‌

14,106

Hyundai

Wia

Corp

587,201‌

4,904

Innocean

Worldwide,

Inc

158,715‌

14,286

ISC

Co

Ltd

737,508‌

217,258

JB

Financial

Group

Co

Ltd

1,625,101‌

6,872

KEPCO

Plant

Service

&

Engineering

Co

Ltd

166,270‌

124,531

Koh

Young

Technology,

Inc

1,020,522‌

20,093

KoMiCo

Ltd

659,793‌

236,447

Korean

Reinsurance

Co

1,555,216‌

16,678

LIG

Nex1

Co

Ltd

1,078,771‌

2,470

MegaStudyEdu

Co

Ltd

113,534‌

76,821

NEXTIN,

Inc

3,056,569‌

1,193

NongShim

Co

Ltd

392,372‌

59,621

Orion

Holdings

Corp

701,095‌

138,492

Poongsan

Corp

3,695,970‌

6,129

Shinyoung

Securities

Co

Ltd

254,137‌

40,223

TK

Corp

453,560‌

166,005

Tongyang

Life

Insurance

Co

Ltd

540,028‌

40,618

Webzen,

Inc

413,777‌

188,296

WONIK

IPS

Co

Ltd

4,210,127‌

TOTAL

KOREA,

REPUBLIC

OF

48,114,543‌

KUWAIT

-

0.1%

150,038

Humansoft

Holding

Co

KSC

1,473,955‌

TOTAL

KUWAIT

1,473,955‌

MALAYSIA

-

0.8%

169,600

Berjaya

Sports

Toto

BHD

51,615‌

3,450,200

Bermaz

Auto

Bhd

1,809,816‌

108,600

Carlsberg

Brewery

Malaysia

Bhd

453,592‌

334,200

(a)

Greatech

Technology

Bhd

324,609‌

201,600

Heineken

Malaysia

Bhd

1,008,741‌

2,455,280

Hibiscus

Petroleum

Bhd

1,378,460‌

3,341,200

IJM

Corp

BHD

1,333,073‌

567,609

(b)

Lotte

Chemical

Titan

Holding

Bhd

134,613‌

849,400

Magnum

Bhd

190,756‌

3,144,900

Malakoff

Corp

Bhd

389,515‌

Quant

International

Small-Cap

Equity

Fund

October

31,

2023

126

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MALAYSIA—continued

506,400

Padini

Holdings

Bhd

$

419,830‌

624,500

SKP

Resources

Bhd

103,548‌

304,200

Ta

Ann

Holdings

Bhd

213,888‌

231,400

United

Plantations

BHD

819,820‌

257,500

ViTrox

Corp

Bhd

371,524‌

TOTAL

MALAYSIA

9,003,400‌

MALTA

-

0.1%

40,335

(a)

Kambi

Group

plc

577,791‌

81,431

Kindred

Group

plc

666,662‌

TOTAL

MALTA

1,244,453‌

MEXICO

-

1.0%

1,468,076

(a)

Alsea

SAB

de

C.V.

4,864,544‌

1,686,300

(b)

Banco

del

Bajio

S.A.

5,161,131‌

337,123

Concentradora

Fibra

Danhos

S.A.

de

C.V.

361,824‌

2,858,688

(a),(b)

Nemak

SAB

de

C.V.

505,808‌

TOTAL

MEXICO

10,893,307‌

NETHERLANDS

-

0.5%

19,056

Arcadis

NV

805,398‌

249,348

(a)

Fugro

NV

4,118,472‌

378,793

Koninklijke

BAM

Groep

NV

782,734‌

TOTAL

NETHERLANDS

5,706,604‌

NEW

ZEALAND

-

0.3%

1,132,325

Fletcher

Building

Ltd

2,853,693‌

TOTAL

NEW

ZEALAND

2,853,693‌

NORWAY

-

1.2%

210,707

BW

Offshore

Ltd

440,338‌

1,314,818

(a),(c)

Kahoot!

ASA

4,118,603‌

364,982

Odfjell

Drilling

Ltd

1,277,559‌

110,580

Sparebanken

Nord-Norge

935,143‌

374,255

TGS

Nopec

Geophysical

Co

ASA

5,118,236‌

88,268

Veidekke

ASA

761,711‌

TOTAL

NORWAY

12,651,590‌

PHILIPPINES

-

0.1%

1,896,700

Semirara

Mining

&

Power

Corp

970,531‌

TOTAL

PHILIPPINES

970,531‌

POLAND

-

0.1%

70,164

Asseco

Poland

S.A.

1,284,688‌

4,671

LiveChat

Software

S.A.

125,756‌

TOTAL

POLAND

1,410,444‌

PORTUGAL

-

0.2%

204,947

CTT-Correios

de

Portugal

S.A.

781,761‌

575,163

Redes

Energeticas

Nacionais

S.A.

1,497,402‌

14,240

Semapa-Sociedade

de

Investimento

e

Gestao

201,427‌

TOTAL

PORTUGAL

2,480,590‌

RUSSIA

-

0.0%

81,310

(a),(d)

Sistema

PJSFC

(GDR)

813‌

TOTAL

RUSSIA

813‌

SAUDI

ARABIA

-

0.6%

1,294,954

Abdullah

Al

Othaim

Markets

Co

4,499,439‌

6,895

Eastern

Province

Cement

Co

67,920‌

155,260

National

Gas

&

Industrialization

Co

2,400,400‌

TOTAL

SAUDI

ARABIA

6,967,759‌

127

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SINGAPORE

-

0.5%

1,830,300

Sheng

Siong

Group

Ltd

$

2,072,063‌

177,400

SIA

Engineering

Co

Ltd

296,892‌

2,106,500

UMS

Holdings

Ltd

1,926,278‌

5,515,200

(c)

Yangzijiang

Financial

Holding

Ltd

1,291,257‌

TOTAL

SINGAPORE

5,586,490‌

SOUTH

AFRICA

-

0.2%

847,977

Coronation

Fund

Managers

Ltd

1,374,507‌

518,214

(c)

Pick'n

Pay

Stores

Ltd

695,123‌

3,567

Wilson

Bayly

Holmes-Ovcon

Ltd

22,626‌

TOTAL

SOUTH

AFRICA

2,092,256‌

SPAIN

-

1.1%

309,861

Acerinox

S.A.

3,018,926‌

47,382

(a)

AmRest

Holdings

SE

300,352‌

26,717

Construcciones

y

Auxiliar

de

Ferrocarriles

S.A.

798,074‌

55,762

(a)

eDreams

ODIGEO

S.A.

357,528‌

405,861

Faes

Farma

S.A.

(Sigma)

1,274,853‌

365,272

(b)

Gestamp

Automocion

S.A.

1,344,123‌

227,705

Prosegur

Cia

de

Seguridad

S.A.

340,479‌

1,895,202

(b)

Unicaja

Banco

S.A.

1,974,641‌

31,089

Vidrala

S.A.

2,310,696‌

TOTAL

SPAIN

11,719,672‌

SWEDEN

-

3.3%

101,209

(b)

AcadeMedia

AB

419,254‌

118,152

AddLife

AB

771,803‌

70,880

AFRY

AB

744,742‌

55,561

(b)

Alimak

Group

AB

327,249‌

604,907

Alleima

AB

3,682,194‌

572,226

Arjo

AB

1,913,769‌

56,815

Atea

ASA

590,988‌

109,106

BioGaia

AB

973,528‌

89,299

Bure

Equity

AB

1,785,434‌

17,892

(a)

Collector

Bank

AB

57,826‌

165,153

(b)

Coor

Service

Management

Holding

AB

569,327‌

61,979

(c)

Creades

AB

330,950‌

469,070

Fortnox

AB

1,859,359‌

437,944

Hexpol

AB

3,886,769‌

76,865

Instalco

AB

215,181‌

23,232

Investment

AB

Oresund

207,413‌

2,190

INVISIO

AB

33,010‌

63,816

Inwido

AB

652,132‌

72,007

Mekonomen

AB

579,284‌

17,253

Micronic

AB

377,958‌

190,180

(b)

Munters

Group

AB

2,321,852‌

188,181

Nordnet

AB

publ

2,664,382‌

4,844

Paradox

Interactive

AB

92,137‌

60,416

(a)

Sdiptech

AB

1,187,701‌

911,373

Ssab

Svenskt

Stal

AB

(Series

B)

5,287,373‌

1,563,143

(a)

Stillfront

Group

AB

1,618,129‌

165,341

(a),(c)

Vimian

Group

AB

374,750‌

130,651

Vitrolife

AB

1,703,326‌

TOTAL

SWEDEN

35,227,820‌

SWITZERLAND

-

2.9%

211,597

Accelleron

Industries

AG.

5,226,261‌

2,916,035

(a)

Aryzta

AG.

5,344,533‌

11,485

Belimo

Holding

AG.

4,835,381‌

7,765

Burkhalter

Holding

AG.

726,316‌

104,397

Georg

Fischer

AG.

5,417,302‌

7,133

Implenia

AG.

221,873‌

52,229

Landis&Gyr

Group

AG.

3,874,970‌

Quant

International

Small-Cap

Equity

Fund

October

31,

2023

128

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SWITZERLAND—continued

14,877

(b)

Medmix

AG.

$

308,449‌

6,244

Meier

Tobler

Group

AG.

214,506‌

2,833

Mobilezone

Holding

AG.

43,063‌

1,757

Siegfried

Holding

AG.

1,393,333‌

34,754

Sulzer

AG.

2,868,291‌

16,258

Vetropack

Holding

AG.

637,166‌

TOTAL

SWITZERLAND

31,111,444‌

TAIWAN

-

7.0%

9,000

AcBel

Polytech,

Inc

10,614‌

30,000

Alchip

Technologies

Ltd

2,460,491‌

4,057,000

Alpha

Networks,

Inc

4,450,210‌

2,442,000

Ardentec

Corp

4,914,669‌

705,000

Asia

Vital

Components

Co

Ltd

6,229,531‌

488,000

AURAS

Technology

Co

Ltd

4,317,536‌

665,000

Chicony

Electronics

Co

Ltd

2,560,079‌

753,000

Chicony

Power

Technology

Co

Ltd

2,607,008‌

245,000

China

Bills

Finance

Corp

107,707‌

1,312,000

ChipMOS

Technologies,

Inc

1,662,908‌

354,000

Dynapack

International

Technology

Corp

857,369‌

19,000

ECOVE

Environment

Corp

182,370‌

190,000

Elitegroup

Computer

Systems

Co

Ltd

150,402‌

666,000

EVERGREEN

Steel

Corp

1,450,921‌

342,000

Faraday

Technology

Corp

3,224,419‌

50,050

Fitipower

Integrated

Technology,

Inc

414,302‌

432,000

Formosa

Advanced

Technologies

Co

Ltd

514,989‌

2,779,000

Foxconn

Technology

Co

Ltd

4,509,013‌

133,000

Grape

King

Bio

Ltd

607,882‌

1,238,000

Greatek

Electronics,

Inc

2,227,511‌

251,000

Hannstar

Board

Corp

433,316‌

57,000

Kerry

TJ

Logistics

Co

Ltd

65,266‌

2,748,000

King

Yuan

Electronics

Co

Ltd

6,510,562‌

403,000

Lung

Yen

Life

Service

Corp

442,667‌

217,000

Marketech

International

Corp

890,694‌

1,723,000

Mitac

Holdings

Corp

1,961,920‌

71,000

Pixart

Imaging,

Inc

282,261‌

293,000

Sercomm

Corp

1,022,287‌

502,000

Shin

Zu

Shing

Co

Ltd

1,435,413‌

438,000

Shinkong

Insurance

Co

Ltd

901,930‌

2,398,000

Sigurd

Microelectronics

Corp

4,403,000‌

498,000

Simplo

Technology

Co

Ltd

5,130,728‌

42,000

Sinbon

Electronics

Co

Ltd

359,657‌

2,816,000

Supreme

Electronics

Co

Ltd

4,837,322‌

246,000

Taiwan

Surface

Mounting

Technology

Corp

695,200‌

664,000

Transcend

Information,

Inc

1,505,925‌

400,000

Tung

Ho

Steel

Enterprise

Corp

802,929‌

71,000

XinTec,

Inc

254,624‌

TOTAL

TAIWAN

75,395,632‌

THAILAND

-

0.9%

558,500

AP

Thailand

PCL

167,880‌

2,514,200

Bangkok

Life

Assurance

PCL

1,623,159‌

3,665,600

Ditto

Thailand

PCL

2,203,112‌

638,700

MK

Restaurants

Group

PCL

719,540‌

487,700

Pruksa

Holding

PCL

169,696‌

495,400

Regional

Container

Lines

PCL

270,161‌

485,400

SPCG

PCL

174,327‌

4,479,900

Sri

Trang

Agro-Industry

PCL

1,795,067‌

1,145,200

Thanachart

Capital

PCL

1,561,644‌

3,794,725

Thoresen

Thai

Agencies

PCL

543,725‌

198,500

Tipco

Asphalt

PCL

103,848‌

TOTAL

THAILAND

9,332,159‌

129

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TURKEY

-

0.8%

460,510

Migros

Ticaret

AS

$

5,491,467‌

1,426,722

Sok

Marketler

Ticaret

AS.

3,015,869‌

TOTAL

TURKEY

8,507,336‌

UNITED

ARAB

EMIRATES

-

0.0%

287,529

Dubai

Investments

PJSC

176,685‌

TOTAL

UNITED

ARAB

EMIRATES

176,685‌

UNITED

KINGDOM

-

9.6%

87,360

AG.

Barr

plc

521,883‌

216,356

Bovis

Homes

Group

plc

1,864,841‌

563,528

Bytes

Technology

Group

plc

3,373,124‌

561,941

Central

Asia

Metals

plc

1,118,772‌

727,515

Chemring

Group

plc

2,471,500‌

193,331

Diploma

plc

6,702,942‌

1,939,075

Dowlais

Group

plc

2,360,793‌

1,045,036

(a)

easyJet

plc

4,661,878‌

222,790

Electrocomponents

plc

1,838,557‌

460,888

Genuit

Group

plc

1,487,018‌

162,053

Greggs

plc

4,668,123‌

106,958

Hill

&

Smith

Holdings

plc

2,144,087‌

487,775

Hiscox

Ltd

5,561,081‌

846,976

Howden

Joinery

Group

plc

6,577,703‌

493,896

Hunting

plc

1,737,885‌

2,679

Inchcape

plc

21,720‌

2,229,540

(a)

John

Wood

Group

plc

3,861,064‌

979,537

Johnson

Service

Group

plc

1,521,558‌

866,922

Just

Group

plc

796,597‌

91,340

Keller

Group

plc

860,398‌

2,270,023

(a)

Marks

&

Spencer

Group

plc

5,994,182‌

1,482,819

National

Express

Group

plc

1,129,644‌

1,160,963

QinetiQ

plc

4,670,714‌

471,993

Redde

Northgate

plc

1,927,577‌

797,073

Redrow

plc

4,714,190‌

8,219

Renew

Holdings

plc

71,446‌

1,510,219

Rotork

plc

5,400,424‌

364,253

Softcat

plc

5,600,548‌

159,889

Spectris

plc

6,041,712‌

202,816

TORM

plc

6,187,631‌

49,818

Vesuvius

plc

244,022‌

2,265,894

Virgin

Money

UK

plc

4,116,616‌

294,747

Volex

plc

1,012,056‌

90,214

WH

Smith

plc

1,271,946‌

7,819

Young

&

Co's

Brewery

plc

98,837‌

TOTAL

UNITED

KINGDOM

102,633,069‌

UNITED

STATES

-

1.8%

34,042

Burford

Capital

Ltd

420,898‌

414,746

(a)

Carnival

plc

4,256,680‌

79,804

(a),(c)

Fiverr

International

Ltd

1,689,451‌

31,548

GCC

SAB

de

C.V.

280,903‌

63,363

iShares

Core

MSCI

Emerging

Markets

ETF

2,910,896‌

21,555

iShares

MSCI

Canada

Index

Fund

684,156‌

118,538

iShares

MSCI

EAFE

Small-Cap

ETF

6,378,530‌

218,141

(a)

MDA

Ltd

1,804,274‌

72,410

Titan

Cement

International

S.A.

1,356,121‌

TOTAL

UNITED

STATES

19,781,909‌

TOTAL

COMMON

STOCKS

1,067,651,206‌

(Cost

$1,110,078,672)

TOTAL

LONG-TERM

INVESTMENTS

1,067,651,206‌

(Cost

$1,110,078,672)

Quant

International

Small-Cap

Equity

Fund

October

31,

2023

130

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

RATE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.2%

1,777,607

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5.360

%

$

1,777,607‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

1,777,607‌

(Cost

$1,777,607)

TOTAL

INVESTMENTS

-

99.8%

1,069,428,813‌

(Cost

$1,111,856,279)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.2%

1,897,917‌

NET

ASSETS

-

100.0%

$

1,071,326,730‌

ETF

Exchange

Traded

Fund

GDR

Global

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(c)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$19,946,882.

(d)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Portfolio

of

Investments

Social

Choice

International

Equity

Fund

October

31,

2023

131

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

98.3%

COMMON

STOCKS

-

98.3%

AUSTRALIA

-

6

.6

%

117,525

APA

Group

$

616,059‌

353,306

Aurizon

Holdings

Ltd

769,541‌

541,818

Australia

&

New

Zealand

Banking

Group

Ltd

8,543,915‌

28,193

Australian

Stock

Exchange

Ltd

1,007,267‌

139,564

BlueScope

Steel

Ltd

1,673,018‌

133,935

Brambles

Ltd

1,117,788‌

12,852

Cochlear

Ltd

1,969,879‌

464,106

Coles

Group

Ltd

4,504,466‌

158,290

Commonwealth

Bank

of

Australia

9,737,344‌

137,175

Computershare

Ltd

2,164,888‌

98,414

Dexus

Property

Group

406,468‌

30,991

EBOS

Group

Ltd

632,657‌

447,404

Fortescue

Metals

Group

Ltd

6,364,686‌

204,869

Goodman

Group

2,710,805‌

23,876

IDP

Education

Ltd

329,880‌

70,588

Independence

Group

NL

427,436‌

241,783

Insurance

Australia

Group

Ltd

872,241‌

125,987

Lend

Lease

Corp

Ltd

498,970‌

46,262

Macquarie

Group

Ltd

4,755,266‌

45,268

Mineral

Resources

Ltd

1,668,452‌

88,281

Northern

Star

Resources

Ltd

646,463‌

47,766

Orica

Ltd

446,322‌

408,875

Origin

Energy

Ltd

2,371,823‌

294,524

(a)

Pilbara

Minerals

Ltd

691,835‌

116,516

(b)

Qantas

Airways

Ltd

365,033‌

99,499

QBE

Insurance

Group

Ltd

986,643‌

43,378

Ramsay

Health

Care

Ltd

1,343,160‌

28,331

REA

Group

Ltd

2,600,918‌

293,080

Scentre

Group

454,037‌

72,273

Seek

Ltd

953,474‌

93,984

Sonic

Healthcare

Ltd

1,720,946‌

220,501

South32

Ltd

471,736‌

91,806

Suncorp-Metway

Ltd

781,419‌

1,138,574

Telstra

Corp

Ltd

2,760,902‌

715,975

Transurban

Group

5,390,209‌

186,464

Vicinity

Ltd

201,965‌

151,718

Wesfarmers

Ltd

4,881,347‌

56,443

WiseTech

Global

Ltd

2,101,444‌

270,119

Woodside

Energy

Group

Ltd

5,883,136‌

276,200

Woolworths

Ltd

6,182,673‌

TOTAL

AUSTRALIA

92,006,511‌

AUSTRIA

-

0

.7

%

143,796

Erste

Bank

der

Oesterreichischen

Sparkassen

AG.

5,149,230‌

44,760

Mondi

plc

724,015‌

77,589

OMV

AG.

3,402,915‌

TOTAL

AUSTRIA

9,276,160‌

BELGIUM

-

1

.0

%

12,171

Dieteren

S.A.

1,807,890‌

90,822

KBC

Groep

NV

4,998,375‌

61,136

UCB

S.A.

4,471,487‌

91,229

Umicore

S.A.

2,170,596‌

TOTAL

BELGIUM

13,448,348‌

Social

Choice

International

Equity

Fund

October

31,

2023

132

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BURKINA

FASO

-

0

.1

%

48,764

Endeavour

Mining

plc

$

1,006,105‌

TOTAL

BURKINA

FASO

1,006,105‌

CHILE

-

0

.2

%

211,409

Antofagasta

plc

3,456,859‌

TOTAL

CHILE

3,456,859‌

CHINA

-

1

.0

%

1,794,017

BOC

Hong

Kong

Holdings

Ltd

4,744,349‌

222,539

(b)

Prosus

NV

6,223,434‌

1,088,100

Wilmar

International

Ltd

2,828,825‌

TOTAL

CHINA

13,796,608‌

DENMARK

-

3

.6

%

16,095

Chr

Hansen

Holding

A/S

1,098,318‌

23,926

Coloplast

A.S.

2,495,106‌

30,640

(b)

Demant

A.S.

1,169,208‌

17,954

(b)

Genmab

AS

5,075,288‌

353,271

Novo

Nordisk

A.S.

34,082,246‌

22,884

Novozymes

A.S.

1,028,474‌

30,034

Orsted

AS

1,451,216‌

8,889

Pandora

A.S.

1,008,195‌

114,274

Vestas

Wind

Systems

A.S.

2,476,862‌

TOTAL

DENMARK

49,884,913‌

FINLAND

-

0

.8

%

18,900

Elisa

Oyj

(Series

A)

801,524‌

55,018

Kesko

Oyj

(B

Shares)

930,436‌

99,404

Metso

Outotec

Oyj

875,792‌

131,152

Neste

Oil

Oyj

4,407,746‌

76,891

Stora

Enso

Oyj

(R

Shares)

924,107‌

71,775

UPM-Kymmene

Oyj

2,417,089‌

71,541

Wartsila

Oyj

(B

Shares)

853,734‌

TOTAL

FINLAND

11,210,428‌

FRANCE

-

9

.6

%

106,975

Accor

S.A.

3,412,781‌

315,711

AXA

S.A.

9,354,651‌

23,900

BioMerieux

2,294,697‌

109,999

Bouygues

S.A.

3,869,656‌

117,854

Bureau

Veritas

S.A.

2,684,452‌

198,179

Cie

Generale

des

Etablissements

Michelin

S.C.A

5,887,591‌

127,754

Danone

7,600,144‌

161,930

Dassault

Systemes

SE

6,670,443‌

41,630

Eiffage

S.A.

3,777,946‌

25,138

Eurazeo

1,417,196‌

29,136

Fonciere

Des

Regions

1,248,605‌

26,040

Gecina

S.A.

2,556,889‌

5,234

Hermes

International

9,765,728‌

16,148

Kering

6,567,416‌

124,121

Klepierre

3,014,127‌

66,027

Legrand

S.A.

5,711,756‌

32,855

L'Oreal

S.A.

13,809,957‌

535,250

Orange

S.

A.

6,295,633‌

238,867

Societe

Generale

5,367,765‌

34,108

Teleperformance

3,923,840‌

274,643

Total

S.A.

18,361,942‌

68,183

(b)

Unibail-Rodamco-Westfield

3,378,412‌

119,409

Valeo

1,577,762‌

390,660

Vivendi

Universal

S.A.

3,503,243‌

15,372

Wendel

1,151,477‌

TOTAL

FRANCE

133,204,109‌

133

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

GERMANY

-

8

.2

%

28,701

Adidas-Salomon

AG.

$

5,103,261‌

54,640

Allianz

AG.

12,799,010‌

73,800

Bayerische

Motoren

Werke

AG.

6,863,718‌

19,368

Brenntag

SE

1,440,235‌

23,220

Carl

Zeiss

Meditec

AG.

2,016,250‌

34,221

(c)

Covestro

AG.

1,733,710‌

135,506

Daimler

AG.

(Registered)

7,972,394‌

32,851

Deutsche

Boerse

AG.

5,407,160‌

47,231

Dr

ING

hc

F

Porsche

AG.

4,139,562‌

91,008

Evonik

Industries

AG.

1,674,991‌

22,625

GEA

Group

AG.

773,784‌

63,550

HeidelbergCement

AG.

4,613,307‌

28,874

Henkel

KGaA

1,824,848‌

31,803

Henkel

KGaA

(Preference)

2,294,112‌

33,911

LEG

Immobilien

SE

2,119,832‌

36,912

Merck

KGaA

5,575,129‌

22,084

Muenchener

Rueckver

AG.

8,862,485‌

18,216

Puma

AG.

Rudolf

Dassler

Sport

1,032,267‌

129,897

SAP

AG.

17,423,387‌

101,450

Siemens

AG.

13,462,298‌

17,945

Symrise

AG.

1,833,787‌

505,437

Telefonica

Deutschland

Holding

AG.

859,281‌

136,166

Vonovia

SE

3,134,825‌

41,154

(b),(c)

Zalando

SE

962,612‌

TOTAL

GERMANY

113,922,245‌

HONG

KONG

-

2

.2

%

1,364,600

AIA

Group

Ltd

11,849,917‌

396,500

CLP

Holdings

Ltd

2,901,897‌

380,981

Hang

Seng

Bank

Ltd

4,355,789‌

1,016,000

HKT

Trust

&

HKT

Ltd

1,052,357‌

142,938

Hong

Kong

Exchanges

and

Clearing

Ltd

5,000,349‌

878,231

MTR

Corp

3,282,989‌

858,000

Sino

Land

Co

856,565‌

242,468

Swire

Pacific

Ltd

(Class

A)

1,548,846‌

TOTAL

HONG

KONG

30,848,709‌

IRELAND

-

1

.0

%

139,322

CRH

plc

7,463,480‌

64,116

Kerry

Group

plc

(Class

A)

4,952,565‌

47,410

Smurfit

Kappa

Group

plc

1,545,373‌

TOTAL

IRELAND

13,961,418‌

ISRAEL

-

0

.3

%

602,913

Bank

Hapoalim

Ltd

4,312,604‌

TOTAL

ISRAEL

4,312,604‌

ITALY

-

2

.3

%

71,834

Amplifon

S.p.A.

2,030,277‌

290,084

Assicurazioni

Generali

S.p.A.

5,762,125‌

108,041

Coca-Cola

HBC

AG.

2,804,923‌

1,463,891

Enel

S.p.A.

9,292,166‌

3,098,071

Intesa

Sanpaolo

S.p.A.

8,072,926‌

77,797

Moncler

S.p.A

4,040,556‌

TOTAL

ITALY

32,002,973‌

JAPAN

-

22

.7

%

98,000

Advantest

Corp

2,524,345‌

109,900

Aeon

Co

Ltd

2,312,254‌

138,400

Ajinomoto

Co,

Inc

5,054,737‌

90,514

(b)

All

Nippon

Airways

Co

Ltd

1,776,958‌

234,500

Asahi

Kasei

Corp

1,441,655‌

326,700

Astellas

Pharma,

Inc

4,132,712‌

Social

Choice

International

Equity

Fund

October

31,

2023

134

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

29,100

Azbil

Corp

$

859,866‌

158,900

Bridgestone

Corp

6,013,603‌

41,300

Brother

Industries

Ltd

644,290‌

25,127

Dai

Nippon

Printing

Co

Ltd

655,495‌

52,000

Daifuku

Co

Ltd

859,190‌

299,700

Daiichi

Sankyo

Co

Ltd

7,727,522‌

30,675

Daikin

Industries

Ltd

4,422,687‌

93,649

Daiwa

House

Industry

Co

Ltd

2,575,877‌

97,232

East

Japan

Railway

Co

5,049,966‌

58,748

Eisai

Co

Ltd

3,112,370‌

123,600

Fanuc

Ltd

3,067,307‌

19,300

Fast

Retailing

Co

Ltd

4,272,951‌

72,300

FUJIFILM

Holdings

Corp

3,954,648‌

37,472

Fujitsu

Ltd

4,854,402‌

87,916

Hankyu

Hanshin

Holdings,

Inc

2,766,153‌

21,900

(b)

Hitachi

Construction

Machinery

Co

Ltd

565,803‌

819,300

Honda

Motor

Co

Ltd

8,396,819‌

47,600

(b)

Hoya

Corp

4,582,385‌

41

Hulic

Co

Ltd

376‌

40,500

Ibiden

Co

Ltd

1,726,776‌

282,950

Inpex

Holdings,

Inc

4,105,849‌

178,500

JFE

Holdings,

Inc

2,487,016‌

100,300

JSR

Corp

2,684,624‌

62,500

Kao

Corp

2,280,243‌

260,596

KDDI

Corp

7,795,658‌

200

Keio

Corp

5,935‌

53,900

Kikkoman

Corp

3,066,627‌

15,265

Kintetsu

Corp

429,508‌

104,100

Komatsu

Ltd

2,391,842‌

124,072

Kubota

Corp

1,668,674‌

8,600

Kurita

Water

Industries

Ltd

261,297‌

136,700

Kyowa

Hakko

Kogyo

Co

Ltd

2,144,041‌

34,500

LIXIL

Group

Corp

378,295‌

348,300

Marubeni

Corp

5,092,765‌

28,800

Matsumotokiyoshi

Holdings

Co

Ltd

505,203‌

154,279

Mitsubishi

Chemical

Holdings

Corp

873,004‌

26

Mitsubishi

Estate

Co

Ltd

333‌

186,100

Mitsui

&

Co

Ltd

6,763,649‌

7,000

Mitsui

Chemicals,

Inc

176,431‌

189,800

Mitsui

Fudosan

Co

Ltd

4,113,888‌

44,200

Mitsui

Sumitomo

Insurance

Group

Holdings,

Inc

1,619,511‌

476,300

Mizuho

Financial

Group,

Inc

8,086,802‌

358,800

Murata

Manufacturing

Co

Ltd

6,146,020‌

86,801

NEC

Corp

4,179,520‌

5,600

NGK

Insulators

Ltd

68,422‌

167,540

Nintendo

Co

Ltd

6,921,817‌

24,500

Nippon

Express

Holdings,

Inc

1,259,187‌

172,000

Nippon

Paint

Co

Ltd

1,156,374‌

146,000

(a)

Nippon

Yusen

Kabushiki

Kaisha

3,572,217‌

34,913

Nissin

Food

Products

Co

Ltd

3,037,732‌

42,300

Nitto

Denko

Corp

2,737,054‌

1,085,600

(b)

Nomura

Holdings,

Inc

4,194,114‌

110,400

Nomura

Research

Institute

Ltd

2,897,993‌

85

Obayashi

Corp

728‌

34,200

Omron

Corp

1,225,291‌

142,100

Ono

Pharmaceutical

Co

Ltd

2,453,993‌

190,010

Oriental

Land

Co

Ltd

6,145,942‌

241,600

ORIX

Corp

4,393,819‌

92,900

Osaka

Gas

Co

Ltd

1,751,887‌

435,806

Panasonic

Corp

3,823,540‌

175,600

(b)

Rakuten,

Inc

649,530‌

168,529

Recruit

Holdings

Co

Ltd

4,832,181‌

398,100

(b)

Renesas

Electronics

Corp

5,229,290‌

135

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

549,800

Resona

Holdings,

Inc

$

2,937,757‌

110,900

Ricoh

Co

Ltd

898,856‌

25,900

Secom

Co

Ltd

1,798,879‌

30,800

Seiko

Epson

Corp

427,602‌

18,324

Sekisui

Chemical

Co

Ltd

250,981‌

37,163

Sekisui

House

Ltd

727,754‌

74,200

SG

Holdings

Co

Ltd

1,051,756‌

42,000

Sharp

Corp

262,593‌

61,900

Shimadzu

Corp

1,463,705‌

18,468

Shimizu

Corp

131,427‌

246,500

Shin-Etsu

Chemical

Co

Ltd

7,371,180‌

61,300

Shionogi

&

Co

Ltd

2,854,410‌

58,300

Shiseido

Co

Ltd

1,849,012‌

419,800

SoftBank

Corp

4,746,619‌

25,600

Sompo

Holdings,

Inc

1,108,991‌

163,915

Sony

Corp

13,627,704‌

470,700

Sumitomo

Chemical

Co

Ltd

1,196,408‌

121,571

Sumitomo

Metal

Mining

Co

Ltd

3,415,167‌

138,900

Sumitomo

Mitsui

Trust

Holdings,

Inc

5,208,303‌

78,800

Suntory

Beverage

&

Food

Ltd

2,371,332‌

32,100

Sysmex

Corp

1,537,680‌

11,400

T&D

Holdings,

Inc

203,367‌

78,900

TDK

Corp

2,952,060‌

115,100

Terumo

Corp

3,148,927‌

30,300

TIS,

Inc

648,870‌

182,800

Tokio

Marine

Holdings,

Inc

4,089,642‌

71,200

Tokyo

Electron

Ltd

9,408,201‌

38,100

Tokyo

Gas

Co

Ltd

855,618‌

15,100

Tokyu

Corp

170,464‌

150,400

Toray

Industries,

Inc

727,611‌

24

Toto

Ltd

579‌

1,034,800

(b)

Toyota

Motor

Corp

18,102,521‌

67,100

Uni-Charm

Corp

2,279,983‌

32,000

West

Japan

Railway

Co

1,219,665‌

20,670

Yamaha

Corp

552,094‌

122,500

Yamaha

Motor

Co

Ltd

2,993,514‌

55,200

Yamato

Transport

Co

Ltd

919,412‌

24,786

Yaskawa

Electric

Corp

811,323‌

34,098

Yokogawa

Electric

Corp

619,057‌

1,076,100

Z

Holdings

Corp

2,743,502‌

TOTAL

JAPAN

314,643,519‌

NETHERLANDS

-

5

.1

%

803,593

Aegon

NV

3,908,087‌

18,616

Akzo

Nobel

NV

1,248,849‌

45,559

ASML

Holding

NV

27,386,447‌

437,512

Koninklijke

KPN

NV

1,470,556‌

97,835

NN

Group

NV

3,137,802‌

22,282

Randstad

Holdings

NV

1,153,868‌

765,698

Shell

plc

24,676,015‌

152,460

Universal

Music

Group

NV

3,733,566‌

26,270

Wolters

Kluwer

NV

3,370,598‌

TOTAL

NETHERLANDS

70,085,788‌

NEW

ZEALAND

-

0

.4

%

469,456

Auckland

International

Airport

Ltd

2,007,527‌

196,075

Mercury

NZ

Ltd

673,976‌

46,898

Meridian

Energy

Ltd

132,082‌

148,590

Telecom

Corp

of

New

Zealand

Ltd

431,374‌

35,478

(b)

Xero

Ltd

2,425,532‌

TOTAL

NEW

ZEALAND

5,670,491‌

Social

Choice

International

Equity

Fund

October

31,

2023

136

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

NORWAY

-

1

.1

%

253,533

DNB

Bank

ASA

$

4,574,204‌

178,611

Equinor

ASA

5,987,612‌

118,241

Mowi

ASA

1,921,375‌

388,614

Norsk

Hydro

ASA

2,216,151‌

14,328

Orkla

ASA

98,756‌

77,234

Telenor

ASA

789,516‌

TOTAL

NORWAY

15,587,614‌

PORTUGAL

-

0

.5

%

516,754

Energias

de

Portugal

S.A.

2,171,657‌

278,709

Galp

Energia

SGPS

S.A.

4,195,897‌

TOTAL

PORTUGAL

6,367,554‌

SINGAPORE

-

1

.0

%

604,508

Capitaland

Investment

Ltd

1,297,989‌

307,268

CapitaMall

Trust

394,907‌

218,300

City

Developments

Ltd

1,007,631‌

720,573

(b)

Grab

Holdings

Ltd

2,212,159‌

389,500

Keppel

Corp

Ltd

1,768,074‌

77,900

(d)

Keppel

REIT

45,233‌

754,100

Oversea-Chinese

Banking

Corp

6,991,345‌

8,304,620

(b)

SembCorp

Marine

Ltd

680,140‌

TOTAL

SINGAPORE

14,397,478‌

SOUTH

AFRICA

-

0

.5

%

252,976

Anglo

American

plc

6,445,721‌

TOTAL

SOUTH

AFRICA

6,445,721‌

SPAIN

-

2

.6

%

109,743

Amadeus

IT

Holding

S.A.

6,263,341‌

1,070,455

Banco

Bilbao

Vizcaya

Argentaria

S.A.

8,421,515‌

914,168

Iberdrola

S.A.

10,167,393‌

208,528

(a)

Industria

de

Diseno

Textil

S.A.

7,197,963‌

71,395

(a)

Naturgy

Energy

Group

S.A.

2,020,098‌

83,332

Redeia

Corp

S.A.

1,299,556‌

TOTAL

SPAIN

35,369,866‌

SWEDEN

-

3

.0

%

17,117

Alfa

Laval

AB

554,706‌

242,872

Assa

Abloy

AB

5,176,835‌

366,693

Atlas

Copco

AB

4,748,314‌

456,274

Atlas

Copco

AB

5,125,437‌

118,829

Boliden

AB

3,045,960‌

67,463

Epiroc

AB

1,111,434‌

21,667

Epiroc

AB

300,853‌

153,212

Essity

AB

3,493,517‌

81,698

Hennes

&

Mauritz

AB

(B

Shares)

1,097,585‌

30,581

Husqvarna

AB

(B

Shares)

198,158‌

146,335

Nibe

Industrier

AB

842,796‌

129,308

Sandvik

AB

2,202,504‌

47,299

SKF

AB

(B

Shares)

766,833‌

30,955

Svenska

Cellulosa

AB

(B

Shares)

424,748‌

617,935

Svenska

Handelsbanken

AB

5,268,322‌

61,666

Tele2

AB

(B

Shares)

437,930‌

1,027,227

(a)

TeliaSonera

AB

2,177,665‌

262,393

Volvo

AB

(B

Shares)

5,199,367‌

TOTAL

SWEDEN

42,172,964‌

SWITZERLAND

-

7

.3

%

256,944

ABB

Ltd

8,632,729‌

45,245

Clariant

AG.

642,837‌

26,923

DSM-Firmenich

AG.

2,440,726‌

4,565

Geberit

AG.

2,125,526‌

137

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SWITZERLAND—continued

1,725

Givaudan

S.A.

$

5,741,698‌

18,222

Kuehne

&

Nagel

International

AG.

4,913,811‌

15,948

Lonza

Group

AG.

5,585,052‌

238,807

Novartis

AG.

22,357,006‌

46,650

(b)

Sandoz

Group

AG.

1,212,854‌

29,495

SGS

S.A.

2,408,875‌

64,052

SIG

Group

AG.

1,412,134‌

27,651

Sika

AG.

6,617,144‌

16,041

Sonova

Holdings

AG

3,801,929‌

9,328

Swiss

Life

Holding

5,991,193‌

9,119

Swisscom

AG.

5,464,003‌

471,713

UBS

Group

AG

11,083,571‌

22,856

Zurich

Insurance

Group

AG

10,856,429‌

TOTAL

SWITZERLAND

101,287,517‌

UNITED

KINGDOM

-

11

.7

%

253,380

3i

Group

plc

5,974,086‌

565,519

Abrdn

plc

1,079,630‌

75,875

Ashtead

Group

plc

4,351,616‌

176,221

AstraZeneca

plc

22,063,505‌

126,021

(c)

Auto

Trader

Group

plc

953,254‌

250,567

Barratt

Developments

plc

1,263,658‌

13,766

Berkeley

Group

Holdings

plc

676,690‌

2,823,531

BT

Group

plc

3,877,911‌

67,296

Burberry

Group

plc

1,386,974‌

394,688

CNH

Industrial

NV

4,373,923‌

85,082

(b)

Coca-Cola

Europacific

Partners

plc

4,978,148‌

322,274

Compass

Group

plc

8,124,965‌

31,651

Croda

International

plc

1,686,876‌

10,324

DCC

plc

573,540‌

2,413,040

HSBC

Holdings

plc

17,423,152‌

566,643

Informa

plc

4,909,662‌

44,979

InterContinental

Hotels

Group

plc

3,187,325‌

3,644

Intertek

Group

plc

169,714‌

934,136

J

Sainsbury

plc

2,922,741‌

173,492

Kingfisher

plc

443,014‌

1,760,327

Legal

&

General

Group

plc

4,535,486‌

67,342

London

Stock

Exchange

Group

plc

6,794,473‌

606,526

National

Grid

plc

7,231,590‌

5,228

Next

plc

438,328‌

148,566

Pearson

plc

1,719,759‌

51,070

Persimmon

plc

632,451‌

295,807

RELX

plc

10,331,855‌

267,905

Schroders

plc

1,206,391‌

184,149

Scottish

&

Southern

Energy

plc

3,659,695‌

237,334

Segro

plc

2,062,940‌

147,275

St.

James's

Place

plc

1,148,123‌

668,470

Standard

Chartered

plc

5,125,380‌

814,139

Taylor

Wimpey

plc

1,099,611‌

316,195

Unilever

plc

14,975,191‌

6,396,002

Vodafone

Group

plc

5,887,760‌

66,922

Whitbread

plc

2,713,562‌

284,301

WPP

plc

2,448,178‌

TOTAL

UNITED

KINGDOM

162,431,157‌

UNITED

STATES

-

4

.8

%

587,694

GSK

plc

10,476,680‌

74,037

Holcim

Ltd

4,577,542‌

32,885

James

Hardie

Industries

plc

820,461‌

287,734

Nestle

S.A.

31,028,868‌

76,959

Schneider

Electric

S.A.

11,840,704‌

Social

Choice

International

Equity

Fund

October

31,

2023

138

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UNITED

STATES—continued

64,948

Swiss

Re

AG.

$

7,096,400‌

TOTAL

UNITED

STATES

65,840,655‌

TOTAL

COMMON

STOCKS

1,362,638,314‌

(Cost

$1,347,753,765)

TOTAL

LONG-TERM

INVESTMENTS

1,362,638,314‌

(Cost

$1,347,753,765)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

1.2%

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

$

2,960,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

11/02/23

2,959,578‌

TOTAL

GOVERNMENT

AGENCY

DEBT

2,959,578‌

REPURCHASE

AGREEMENT

-

0

.6

%

8,361,000

(e)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

8,361,000‌

TOTAL

REPURCHASE

AGREEMENT

8,361,000‌

TREASURY

DEBT

-

0

.4

%

5,000,000

United

States

Treasury

Bill

0

.000

11/07/23

4,995,600‌

TOTAL

TREASURY

DEBT

4,995,600‌

TOTAL

SHORT-TERM

INVESTMENTS

16,316,178‌

(Cost

$16,316,157)

SHARES

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.6%

9,341,095

(f)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

9,341,095‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

9,341,095‌

(Cost

$9,341,095)

TOTAL

INVESTMENTS

-

100.1%

1,388,295,587‌

(Cost

$1,373,411,017)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(

2,067,463‌

)

NET

ASSETS

-

100.0%

$

1,386,228,124‌

REIT

Real

Estate

Investment

Trust

(a)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$11,458,347.

(b)

Non-income

producing

(c)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(d)

When-issued

or

delayed

delivery

security.

(e)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$8,361,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$8,528,302.

(f)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

MSCI

EAFE

Index

159‌

12/15/23

 $

15,917,004‌

$

15,694,095‌

$

(

222,909‌

)

Statement

of

Assets

and

Liabilities

See

Notes

to

Financial

Statements

140

October

31,

2023

2.1

Growth

&

Income

Fund

2.2

Large-Cap

Growth

Fund

2.3

Large-Cap

Value

Fund

ASSETS

Long-term

investments,

at

value

*†

$

5,146,012,731‌

$

5,106,594,537‌

$

4,464,504,342‌

Affiliated

investments,

at

value

‡

–‌

–‌

–‌

Short-term

investments,

at

value

#

23,808,467‌

12,200,554‌

30,811,996‌

Investments

purchased

with

collateral

from

securities

lending,

at

value

(cost

approximates

value)

–‌

–‌

–‌

Cash

827‌

1,141‌

242‌

Cash

denominated

in

foreign

currencies

^

–‌

–‌

–‌

Receivables:

Dividends

3,611,407‌

488,579‌

2,614,793‌

Interest

2,776‌

–‌

872‌

Investments

sold

–‌

3,484,798‌

11,645,211‌

Reclaims

393,264‌

218,140‌

18,322‌

Reimbursement

from

Adviser

800,700‌

899,767‌

800,212‌

Shares

sold

6,161,624‌

7,029,800‌

10,109,713‌

Variation

margin

on

futures

contracts

–‌

–‌

–‌

Other

650,990‌

641,994‌

212,313‌

Total

assets

5,181,442,786‌

5,131,559,310‌

4,520,718,016‌

LIABILITIES

Due

to

affiliates

7,731‌

7,698‌

7,194‌

Payables:

Collateral

from

securities

lending

–‌

–‌

–‌

Capital

gain

taxes

–‌

–‌

–‌

Investments

purchased

-

regular

settlement

1,430‌

7,763,658‌

6,043,507‌

Shares

redeemed

709,492‌

2,270,747‌

83,954‌

Service

agreement

fees

89,975‌

72,635‌

104,903‌

Accrued

expenses:

Custodian

fees

11,795‌

16,833‌

11,458‌

Management

fees

1,789,367‌

1,774,985‌

1,575,019‌

Professional

fees

12,817‌

11,668‌

11,839‌

Shareholder

reporting

expenses

–‌

4,523‌

1,113‌

Shareholder

servicing

agent

fees

91,242‌

92,207‌

13,686‌

Trustees

fees

194,290‌

150,702‌

194,263‌

12b-1

distribution

and

service

fees

301,756‌

236,708‌

33,427‌

Other

8,235‌

7,746‌

1,430‌

Total

liabilities

3,218,130‌

12,410,110‌

8,081,793‌

Net

assets

$

5,178,224,656‌

$

5,119,149,200‌

$

4,512,636,223‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

$

2,862,896,201‌

$

3,101,796,605‌

$

2,959,992,405‌

Total

distributable

earnings

(loss)

2,315,328,455‌

2,017,352,595‌

1,552,643,818‌

Net

assets

$

5,178,224,656‌

$

5,119,149,200‌

$

4,512,636,223‌

*

Includes

securities

loaned

of

$

–‌

$

–‌

$

–‌

†

Long-term

investments,

cost

$

3,789,880,178‌

$

3,027,418,654‌

$

3,284,221,509‌

‡

Affiliated

investments,

cost

$

–‌

$

–‌

$

–‌

#

Short-term

investments,

cost

$

23,807,017‌

$

12,200,542‌

$

30,810,460‌

^

Cash

denominated

in

foreign

currencies,

cost

$

–‌

$

–‌

$

–‌

See

Notes

to

Financial

Statements

141

2.4

Mid-Cap

Growth

Fund

2.5

Mid-Cap

Value

Fund

2.6

Quant

Small-Cap

Equity

Fund

2.7

Quant

Small/Mid-

Cap

Equity

Fund

2.8

Social

Choice

Equity

Fund

2.9

Social

Choice

Low

Carbon

Equity

Fund

3.01

Emerging

Markets

Equity

Fund

$

889,983,365‌

$

1,503,941,350‌

$

2,371,078,810‌

$

1,002,402,447‌

$

5,417,549,240‌

$

1,101,705,903‌

$

1,336,512,183‌

–‌

–‌

–‌

–‌

–‌

–‌

62,171,748‌

1,750,000‌

8,038,467‌

39,494,040‌

1,066,000‌

8,408,286‌

6,829,853‌

133,911,227‌

30,620,825‌

3,103,340‌

17,561,048‌

3,418,953‌

12,789,902‌

677,040‌

1,094,907‌

1,110‌

428‌

281‌

104‌

1,266‌

927‌

202‌

–‌

–‌

–‌

–‌

–‌

–‌

284,377‌

65,100‌

746,921‌

671,677‌

554,434‌

5,394,007‌

1,106,365‌

1,005,534‌

258‌

454‌

2,368‌

157‌

502‌

981‌

5,366‌

9,565,237‌

19,585,896‌

5,228,767‌

–‌

3,957,795‌

731,267‌

–‌

–‌

14,171‌

–‌

–‌

–‌

–‌

157‌

14,787‌

27,468‌

174,335‌

236,711‌

48,467‌

42,321‌

1,007,875‌

80,242‌

47,748‌

2,795,226‌

2,202,783‌

759,728‌

120,852‌

6,346,756‌

–‌

–‌

207,206‌

–‌

59,366‌

43,042‌

–‌

219,305‌

143,636‌

136,939‌

20,726‌

235,397‌

11,649‌

49,002‌

932,300,229‌

1,535,649,879‌

2,437,350,697‌

1,009,902,315‌

5,449,203,956‌

1,111,270,200‌

1,542,389,334‌

4,319‌

4,673‌

5,909‌

4,952‌

7,400‌

4,337‌

5,284‌

30,620,825‌

3,103,340‌

17,561,048‌

3,418,953‌

12,789,902‌

677,040‌

1,094,907‌

–‌

–‌

–‌

–‌

–‌

–‌

2,607,612‌

286,383‌

16,412,333‌

5,272,196‌

–‌

–‌

–‌

–‌

383,862‌

908,414‌

77,452‌

432,385‌

2,783,914‌

964,582‌

2,048‌

55,656‌

84,156‌

73,113‌

77,876‌

168,026‌

128,881‌

13,377‌

5,491‌

4,156‌

12,853‌

9,538‌

13,852‌

6,519‌

20,851‌

375,655‌

587,819‌

855,868‌

392,877‌

709,157‌

240,294‌

1,117,257‌

3,075‌

4,691‌

6,839‌

3,136‌

14,859‌

3,138‌

4,385‌

585‌

249‌

–‌

–‌

5,527‌

–‌

–‌

17,993‌

19,321‌

12,713‌

3,660‌

27,190‌

3,928‌

1,752‌

56,456‌

139,897‌

102,679‌

15,646‌

126,866‌

8,346‌

42,867‌

36,594‌

40,523‌

29,362‌

4,204‌

125,541‌

13,327‌

2,018‌

1,251‌

1,334‌

1,425‌

1,505‌

1,265,186‌

246,858‌

15,292‌

31,848,145‌

21,310,906‌

24,011,457‌

4,364,732‌

18,037,420‌

2,297,250‌

4,927,650‌

$

900,452,084‌

$

1,514,338,973‌

$

2,413,339,240‌

$

1,005,537,583‌

$

5,431,166,536‌

$

1,108,972,950‌

$

1,537,461,684‌

$

1,047,145,037‌

$

1,491,805,588‌

$

2,277,416,855‌

$

905,740,342‌

$

3,465,989,369‌

$

1,023,000,859‌

$

2,006,081,843‌

(

146,692,953‌

)

22,533,385‌

135,922,385‌

99,797,241‌

1,965,177,167‌

85,972,091‌

(

468,620,159‌

)

$

900,452,084‌

$

1,514,338,973‌

$

2,413,339,240‌

$

1,005,537,583‌

$

5,431,166,536‌

$

1,108,972,950‌

$

1,537,461,684‌

$

30,314,395‌

$

3,010,166‌

$

22,842,486‌

$

7,499,636‌

$

13,259,679‌

$

1,073,350‌

$

11,859,955‌

$

885,987,544‌

$

1,421,186,057‌

$

2,277,656,922‌

$

921,363,439‌

$

3,726,587,174‌

$

1,016,605,076‌

$

1,442,467,156‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

36,801,789‌

$

1,750,000‌

$

8,037,018‌

$

39,491,775‌

$

1,066,000‌

$

8,408,266‌

$

6,829,853‌

$

133,906,615‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

284,288‌

Statement

of

Assets

and

Liabilities

(continued)

See

Notes

to

Financial

Statements

142

(continued)

(continued)

Statement

of

Assets

and

Liabilities

(continued)

October

31,

2023

2.1

Growth

&

Income

Fund

2.2

Large-Cap

Growth

Fund

2.3

Large-Cap

Value

Fund

INSTITUTIONAL

CLASS:

Net

assets

$

1,357,423,196‌

$

1,370,479,479‌

$

1,834,765,675‌

Shares

outstanding

94,851,357‌

67,661,421‌

95,417,192‌

Net

asset

value

per

share

$

14

.31‌

$

20

.25‌

$

19

.23‌

ADVISOR

CLASS:

Net

assets

$

3,718,874‌

$

3,622,658‌

$

588,550‌

Shares

outstanding

259,629‌

179,068‌

30,650‌

Net

asset

value

per

share

$

14

.32‌

$

20

.23‌

$

19

.20‌

PREMIER

CLASS:

Net

assets

$

5,565,539‌

$

7,443,499‌

$

29,542,102‌

Shares

outstanding

387,859‌

368,059‌

1,540,721‌

Net

asset

value

per

share

$

14

.35‌

$

20

.22‌

$

19

.17‌

RETIREMENT

CLASS:

Net

assets

$

414,553,658‌

$

330,920,921‌

$

492,407,847‌

Shares

outstanding

28,147,412‌

16,545,288‌

25,748,336‌

Net

asset

value

per

share

$

14

.73‌

$

20

.00‌

$

19

.12‌

RETAIL

CLASS:

Net

assets

$

1,396,039,026‌

$

1,090,320,500‌

$

137,199,069‌

Shares

outstanding

62,595,809‌

54,218,020‌

7,571,195‌

Net

asset

value

per

share

$

22

.30‌

$

20

.11‌

$

18

.12‌

CLASS

W:

Net

assets

$

2,000,924,363‌

$

2,316,362,143‌

$

2,018,132,980‌

Shares

outstanding

139,908,967‌

114,102,527‌

104,663,804‌

Net

asset

value

per

share

$

14

.30‌

$

20

.30‌

$

19

.28‌

Authorized

shares

-

per

class

Unlimited

Unlimited

Unlimited

Par

value

per

share

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

See

Notes

to

Financial

Statements

143

2.4

Mid-Cap

Growth

Fund

2.5

Mid-Cap

Value

Fund

2.6

Quant

Small-Cap

Equity

Fund

2.7

Quant

Small/Mid-

Cap

Equity

Fund

2.8

Social

Choice

Equity

Fund

2.9

Social

Choice

Low

Carbon

Equity

Fund

3.01

Emerging

Markets

Equity

Fund

$

482,634,997‌

$

932,572,204‌

$

1,466,751,786‌

$

76,784,189‌

$

4,068,635,735‌

$

454,298,508‌

$

196,897,499‌

29,055,886‌

64,800,635‌

98,824,762‌

6,458,815‌

172,819,829‌

25,786,220‌

26,968,005‌

$

16

.61‌

$

14

.39‌

$

14

.84‌

$

11

.89‌

$

23

.54‌

$

17

.62‌

$

7

.30‌

$

170,838‌

$

386,751‌

$

775,141‌

$

28,398,772‌

$

44,145,319‌

$

4,801,274‌

$

102,096‌

10,350‌

26,925‌

52,259‌

2,386,255‌

1,878,030‌

273,019‌

13,983‌

$

16

.51‌

$

14

.36‌

$

14

.83‌

$

11

.90‌

$

23

.51‌

$

17

.59‌

$

7

.30‌

$

13,049,880‌

$

25,086,911‌

$

27,099,944‌

$

119,692‌

$

38,799,940‌

$

5,379,529‌

$

4,595,409‌

795,970‌

1,748,114‌

1,842,293‌

10,000‌

1,656,645‌

305,145‌

629,184‌

$

16

.39‌

$

14

.35‌

$

14

.71‌

$

11

.97‌

$

23

.42‌

$

17

.63‌

$

7

.30‌

$

248,485,612‌

$

385,333,901‌

$

336,798,975‌

$

322,110,693‌

$

723,544,033‌

$

585,695,313‌

$

61,571,747‌

15,809,410‌

27,072,211‌

23,665,267‌

27,328,382‌

30,196,108‌

33,472,460‌

8,484,673‌

$

15

.72‌

$

14

.23‌

$

14

.23‌

$

11

.79‌

$

23

.96‌

$

17

.50‌

$

7

.26‌

$

156,110,757‌

$

170,959,206‌

$

117,416,686‌

$

18,877,792‌

$

556,041,509‌

$

58,798,326‌

$

6,607,547‌

9,972,318‌

12,500,753‌

8,404,133‌

1,603,067‌

27,400,259‌

3,357,986‌

909,880‌

$

15

.65‌

$

13

.68‌

$

13

.97‌

$

11

.78‌

$

20

.29‌

$

17

.51‌

$

7

.26‌

$

–‌

$

–‌

$

464,496,708‌

$

559,246,445‌

$

–‌

$

–‌

$

1,267,687,386‌

–‌

–‌

31,246,265‌

46,823,677‌

–‌

–‌

172,199,065‌

$

–‌

$

–‌

$

14

.87‌

$

11

.94‌

$

–‌

$

–‌

$

7

.36‌

Unlimited

Unlimited

Unlimited

Unlimited

Unlimited

Unlimited

Unlimited

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

Statement

of

Assets

and

Liabilities

(continued)

See

Notes

to

Financial

Statements

144

(continued)

Statement

of

Assets

and

Liabilities

(continued)

October

31,

2023

3.1

International

Equity

Fund

3.2

International

Opportunities

Fund

3.3

Quant

International

Small-

Cap

Equity

Fund

ASSETS

Long-term

investments,

at

value

*†

$

5,994,595,294‌

$

2,110,352,858‌

$

1,067,651,206‌

Short-term

investments,

at

value

#

94,544,368‌

56,605,709‌

–‌

Investments

purchased

with

collateral

from

securities

lending,

at

value

(cost

approximates

value)

–‌

8,523,294‌

1,777,607‌

Cash

4,529‌

750‌

–‌

Cash

denominated

in

foreign

currencies

^

–‌

247,242‌

1,685,064‌

Cash

collateral

at

brokers

for

investments

in

futures

contracts

–‌

–‌

–‌

Receivables:

Dividends

13,334,665‌

2,241,966‌

3,359,264‌

Interest

8,596‌

–‌

–‌

Investments

sold

13,396,012‌

3,665,321‌

5,423,238‌

Reclaims

15,539,736‌

3,780,950‌

1,365,271‌

Reimbursement

from

Adviser

1,388,725‌

1,048,517‌

660,366‌

Shares

sold

8,629,581‌

15,783,308‌

4,497,267‌

Variation

margin

on

futures

contracts

–‌

–‌

–‌

Other

4,059,405‌

561,489‌

286,643‌

Total

assets

6,145,500,911‌

2,202,811,404‌

1,086,705,926‌

LIABILITIES

Due

to

affiliates

8,554‌

5,773‌

4,963‌

Cash

overdraft

–‌

–‌

77,396‌

Payables:

Collateral

from

securities

lending

–‌

8,523,294‌

1,777,607‌

Capital

gain

taxes

–‌

832‌

2,180,937‌

Investments

purchased

-

regular

settlement

–‌

3,168,344‌

10,585,106‌

Investments

purchased

-

when-issued/delayed-delivery

settlement

–‌

–‌

–‌

Shares

redeemed

477,623‌

99,531‌

–‌

Service

agreement

fees

69,201‌

25,435‌

1,522‌

Accrued

expenses:

Custodian

fees

77,665‌

38,393‌

122,543‌

Management

fees

2,364,239‌

1,097,643‌

603,356‌

Professional

fees

16,030‌

6,106‌

3,289‌

Shareholder

reporting

expenses

–‌

–‌

–‌

Shareholder

servicing

agent

fees

38,995‌

4,180‌

482‌

Trustees

fees

167,070‌

48,901‌

19,149‌

12b-1

distribution

and

service

fees

51,372‌

7,868‌

193‌

Other

81,746‌

145,213‌

2,653‌

Total

liabilities

3,352,495‌

13,171,513‌

15,379,196‌

Net

assets

$

6,142,148,416‌

$

2,189,639,891‌

$

1,071,326,730‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

$

5,615,714,695‌

$

2,658,996,265‌

$

1,264,340,311‌

Total

distributable

earnings

(loss)

526,433,721‌

(

469,356,374‌

)

(

193,013,581‌

)

Net

assets

$

6,142,148,416‌

$

2,189,639,891‌

$

1,071,326,730‌

*

Includes

securities

loaned

of

$

–‌

$

39,192,664‌

$

19,946,882‌

†

Long-term

investments,

cost

$

5,155,417,763‌

$

1,847,855,931‌

$

1,110,078,672‌

#

Short-term

investments,

cost

$

94,541,475‌

$

56,601,190‌

$

–‌

^

Cash

denominated

in

foreign

currencies,

cost

$

–‌

$

246,978‌

$

1,686,218‌

See

Notes

to

Financial

Statements

145

3.4

Social

Choice

International

Equity

Fund

$

1,362,638,314‌

16,316,178‌

9,341,095‌

7,593‌

139,761‌

488,259‌

3,404,213‌

1,231‌

133‌

2,649,350‌

–‌

1,409,806‌

43,469‌

238,735‌

1,396,678,137‌

4,615‌

–‌

9,341,095‌

–‌

–‌

45,491‌

289,050‌

140,596‌

31,965‌

354,285‌

3,937‌

872‌

1,927‌

8,892‌

6,218‌

221,070‌

10,450,013‌

$

1,386,228,124‌

$

1,360,023,659‌

26,204,465‌

$

1,386,228,124‌

$

11,458,347‌

$

1,347,753,765‌

$

16,316,157‌

$

140,002‌

Statement

of

Assets

and

Liabilities

(continued)

See

Notes

to

Financial

Statements

146

(continued)

Statement

of

Assets

and

Liabilities

(continued)

October

31,

2023

3.1

International

Equity

Fund

3.2

International

Opportunities

Fund

3.3

Quant

International

Small-

Cap

Equity

Fund

INSTITUTIONAL

CLASS:

Net

assets

$

2,405,013,147‌

$

128,293,358‌

$

62,099,036‌

Shares

outstanding

201,182,949‌

9,999,290‌

6,830,569‌

Net

asset

value

per

share

$

11

.95‌

$

12

.83‌

$

9

.09‌

ADVISOR

CLASS:

Net

assets

$

2,066,633‌

$

31,236,950‌

$

76,160‌

Shares

outstanding

168,994‌

2,439,451‌

8,384‌

Net

asset

value

per

share

$

12

.23‌

$

12

.80‌

$

9

.08‌

PREMIER

CLASS:

Net

assets

$

37,022,995‌

$

2,454,834‌

$

67,501‌

Shares

outstanding

3,103,126‌

191,152‌

7,327‌

Net

asset

value

per

share

$

11

.93‌

$

12

.84‌

$

9

.21‌

RETIREMENT

CLASS:

Net

assets

$

318,194,219‌

$

80,691,128‌

$

7,031,320‌

Shares

outstanding

25,562,249‌

6,321,657‌

775,363‌

Net

asset

value

per

share

$

12

.45‌

$

12

.76‌

$

9

.07‌

RETAIL

CLASS:

Net

assets

$

215,589,821‌

$

34,348,877‌

$

853,074‌

Shares

outstanding

29,826,295‌

2,687,474‌

93,838‌

Net

asset

value

per

share

$

7

.23‌

$

12

.78‌

$

9

.09‌

CLASS

W:

Net

assets

$

3,164,261,601‌

$

1,912,614,744‌

$

1,001,199,639‌

Shares

outstanding

262,975,130‌

148,138,364‌

109,326,107‌

Net

asset

value

per

share

$

12

.03‌

$

12

.91‌

$

9

.16‌

Authorized

shares

-

per

class

Unlimited

Unlimited

Unlimited

Par

value

per

share

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

See

Notes

to

Financial

Statements

147

3.4

Social

Choice

International

Equity

Fund

$

715,703,413‌

61,622,526‌

$

11

.61‌

$

11,986,855‌

1,034,017‌

$

11

.59‌

$

953,692‌

82,081‌

$

11

.62‌

$

629,525,529‌

54,498,117‌

$

11

.55‌

$

28,058,635‌

2,427,450‌

$

11

.56‌

$

–‌

–‌

$

–‌

Unlimited

$

0

.0001‌

Statement

of

Operations

See

Notes

to

Financial

Statements

148

Year

Ended

October

31,

2023

2.1

Growth

&

Income

Fund

2.2

Large-Cap

Growth

Fund

2.3

Large-Cap

Value

Fund

INVESTMENT

INCOME

Dividends

from

unaffiliated

investments

$

78,684,368‌

$

37,356,733‌

$

100,774,559‌

Dividends

from

affiliated

investments

–‌

–‌

–‌

Interest

1,000,741‌

1,560,397‌

2,591,909‌

Securities

lending

income,

net

2,649‌

391,624‌

397,274‌

Other

income

294,909‌

194,544‌

208,554‌

Tax

withheld

–‌

(

37,335‌

)

(

115,701‌

)

Total

investment

income

79,982,667‌

39,465,963‌

103,856,595‌

EXPENSES

Management

fees

21,098,702‌

20,161,454‌

19,160,891‌

12b-1

distribution

and

service

fees

—

Premier

Class

12,104‌

15,973‌

89,590‌

12b-1

distribution

and

service

fees

—

Retail

Class

3,441,518‌

2,633,642‌

366,382‌

Shareholder

servicing

agent

fees

—

Institutional

Class

1,694‌

3,297‌

1,753‌

Shareholder

servicing

agent

fees

—

Advisor

Class

3,071‌

2,960‌

441‌

Shareholder

servicing

agent

fees

—

Premier

Class

94‌

88‌

90‌

Shareholder

servicing

agent

fees

—

Retirement

Class

1,045,135‌

778,462‌

1,240,012‌

Shareholder

servicing

agent

fees

—

Retail

Class

545,829‌

537,183‌

79,430‌

Shareholder

servicing

agent

fees

—

Class

W

1,580‌

1,794‌

1,816‌

Administrative

service

fees

93,719‌

91,635‌

89,581‌

Trustees

fees

91,875‌

86,579‌

83,313‌

Custodian

expenses

49,834‌

71,041‌

56,784‌

Overdraft

expense

23,862‌

79,241‌

2,064‌

Professional

fees

67,881‌

62,860‌

66,960‌

Registration

fees

87,442‌

92,133‌

83,549‌

Shareholder

reporting

expenses

46,995‌

47,914‌

52,594‌

Other

68,711‌

68,714‌

42,905‌

Total

expenses

26,680,046‌

24,734,970‌

21,418,155‌

Expenses

reimbursed

by

the

investment

adviser

(

8,304,344‌

)

(

9,132,812‌

)

(

9,182,554‌

)

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

(

634,786‌

)

(

805,952‌

)

(

12,166‌

)

Net

expenses

17,740,916‌

14,796,206‌

12,223,435‌

Net

investment

income

(loss)

62,241,751‌

24,669,757‌

91,633,160‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss):

Investments

*

1,124,175,833‌

17,578,050‌

344,332,807‌

Affiliated

investments

–‌

–‌

–‌

Written

options

1,402,499‌

–‌

–‌

Futures

contracts

–‌

–‌

–‌

Foreign

currency

transactions

15,455‌

59,843‌

4,340‌

Net

realized

gain

(loss)

1,125,593,787‌

17,637,893‌

344,337,147‌

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

‡

(

424,950,488‌

)

980,572,286‌

(

254,994,462‌

)

Affiliated

investments

–‌

–‌

–‌

Written

options

(

2,869,338‌

)

–‌

–‌

Futures

contracts

–‌

–‌

–‌

Foreign

currency

translations

32,363‌

19,213‌

1,209‌

Net

change

in

unrealized

appreciation

(depreciation)

(

427,787,463‌

)

980,591,499‌

(

254,993,253‌

)

Net

realized

and

unrealized

gain

(loss)

697,806,324‌

998,229,392‌

89,343,894‌

Net

increase

(decrease)

in

net

assets

from

operations

$

760,048,075‌

$

1,022,899,149‌

$

180,977,054‌

*  

Net

of

foreign

capital

gains

tax

$

–‌

$

–‌

$

–‌

‡

Net

of

change

in

unrealized

foreign

capital

gains

taxes

$

–‌

$

–‌

$

–‌

See

Notes

to

Financial

Statements

149

2.4

Mid-Cap

Growth

Fund

2.5

Mid-Cap

Value

Fund

2.6

Quant

Small-Cap

Equity

Fund

2.7

Quant

Small/Mid-

Cap

Equity

Fund

2.8

Social

Choice

Equity

Fund

2.9

Social

Choice

Low

Carbon

Equity

Fund

3.01

Emerging

Markets

Equity

Fund

$

6,766,518‌

$

35,649,727‌

$

37,718,440‌

$

15,987,770‌

$

102,403,272‌

$

18,489,407‌

$

30,556,316‌

–‌

–‌

–‌

–‌

–‌

–‌

1,240,678‌

479,064‌

548,826‌

1,094,881‌

134,074‌

1,159,772‌

428,381‌

3,521,319‌

254,100‌

176,703‌

296,205‌

50,725‌

1,732,675‌

120,779‌

61,472‌

13,179‌

102,974‌

–‌

–‌

–‌

–‌

214,454‌

(

148,852‌

)

(

70,893‌

)

(

119,963‌

)

(

37,230‌

)

–‌

–‌

(

3,622,116‌

)

7,364,009‌

36,407,337‌

38,989,563‌

16,135,339‌

105,295,719‌

19,038,567‌

31,972,123‌

4,862,886‌

7,518,702‌

10,563,078‌

4,919,826‌

8,862,115‌

2,828,234‌

13,635,594‌

35,779‌

69,613‌

77,562‌

189‌

96,513‌

9,572‌

11,059‌

440,080‌

473,937‌

320,213‌

47,594‌

1,457,262‌

146,757‌

18,124‌

1,511‌

1,501‌

2,331‌

5,915‌

8,813‌

793‌

416‌

167‌

448‌

635‌

29,894‌

40,132‌

7,688‌

90‌

88‌

91‌

68‌

28‌

12,786‌

64‌

57‌

724,819‌

1,102,890‌

894,528‌

813,603‌

1,957,668‌

1,476,971‌

175,288‌

104,943‌

113,676‌

73,438‌

14,391‌

155,665‌

22,570‌

8,619‌

–‌

–‌

759‌

850‌

–‌

–‌

1,304‌

52,716‌

57,925‌

73,161‌

61,449‌

90,736‌

53,925‌

65,930‌

18,694‌

30,120‌

45,894‌

19,919‌

104,092‌

19,770‌

28,206‌

24,098‌

19,230‌

44,474‌

33,481‌

56,727‌

25,840‌

620,745‌

21,699‌

11,130‌

(

450‌

)

7,831‌

84,265‌

153‌

19,899‌

50,358‌

55,872‌

49,474‌

49,556‌

63,003‌

44,468‌

63,324‌

79,883‌

81,639‌

82,136‌

84,363‌

87,961‌

92,732‌

79,013‌

22,117‌

26,140‌

26,225‌

21,293‌

62,402‌

24,402‌

16,668‌

38,379‌

40,313‌

32,047‌

22,003‌

1,134,673‌

280,594‌

72,624‌

6,478,217‌

9,603,227‌

12,285,573‌

6,132,185‌

14,274,813‌

5,034,533‌

14,816,960‌

–‌

–‌

(

2,296,205‌

)

(

3,151,112‌

)

–‌

(

118,741‌

)

(

11,989,971‌

)

(

31,456‌

)

(

108,105‌

)

(

10,245‌

)

(

150‌

)

(

804,170‌

)

–‌

(

791‌

)

6,446,761‌

9,495,122‌

9,979,123‌

2,980,923‌

13,470,643‌

4,915,792‌

2,826,198‌

917,248‌

26,912,215‌

29,010,440‌

13,154,416‌

91,825,076‌

14,122,775‌

29,145,925‌

(

52,317,783‌

)

(

74,076,939‌

)

31,493,319‌

18,628,650‌

243,151,581‌

1,075,999‌

(

161,867,756‌

)

–‌

–‌

–‌

–‌

–‌

–‌

(

20,611‌

)

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(

102,447‌

)

–‌

2,475,704‌

1,800,879‌

–‌

5,369‌

3,107‌

40,908‌

1,324‌

12,086‌

24,328‌

(

1,794,731‌

)

(

52,312,414‌

)

(

74,073,832‌

)

31,431,780‌

18,629,974‌

245,639,371‌

2,901,206‌

(

163,683,098‌

)

66,903,495‌

(

29,603,012‌

)

(

184,137,576‌

)

(

35,661,137‌

)

40,184,259‌

55,512,433‌

352,736,560‌

–‌

–‌

–‌

–‌

–‌

–‌

10,177,911‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(

3,288,696‌

)

–‌

(

1,004,885‌

)

(

482,002‌

)

–‌

(

4‌

)

904‌

–‌

–‌

–‌

–‌

9,501‌

66,903,491‌

(

29,602,108‌

)

(

187,426,272‌

)

(

35,661,137‌

)

39,179,374‌

55,030,431‌

362,923,972‌

14,591,077‌

(

103,675,940‌

)

(

155,994,492‌

)

(

17,031,163‌

)

284,818,745‌

57,931,637‌

199,240,874‌

$

15,508,325‌

$

(

76,763,725‌

)

$

(

126,984,052‌

)

$

(

3,876,747‌

)

$

376,643,821‌

$

72,054,412‌

$

228,386,799‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

165,334‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

(

2,200,357‌

)

Statement

of

Operations

(continued)

See

Notes

to

Financial

Statements

150

(continued)

(continued)

Statement

of

Operations

(continued)

Year

Ended

October

31,

2023

3.1

International

Equity

Fund

3.2

International

Opportunities

Fund

3.3

Quant

International

Small-

Cap

Equity

Fund

INVESTMENT

INCOME

Dividends

$

223,354,757‌

$

46,944,035‌

$

43,288,365‌

Interest

2,790,210‌

2,895,209‌

27,922‌

Securities

lending

income,

net

905,528‌

661,826‌

485,749‌

Other

income

432,796‌

465,461‌

–‌

Tax

withheld

(

19,419,878‌

)

(

5,563,396‌

)

(

4,296,722‌

)

Total

investment

income

208,063,413‌

45,403,135‌

39,505,314‌

EXPENSES

Management

fees

29,070,390‌

13,608,955‌

7,564,054‌

12b-1

distribution

and

service

fees

—

Premier

Class

87,388‌

3,875‌

106‌

12b-1

distribution

and

service

fees

—

Retail

Class

571,701‌

99,408‌

2,257‌

Shareholder

servicing

agent

fees

—

Institutional

Class

2,865‌

363‌

189‌

Shareholder

servicing

agent

fees

—

Advisor

Class

2,372‌

36,132‌

27‌

Shareholder

servicing

agent

fees

—

Premier

Class

92‌

92‌

32‌

Shareholder

servicing

agent

fees

—

Retirement

Class

875,933‌

241,792‌

20,987‌

Shareholder

servicing

agent

fees

—

Retail

Class

225,127‌

19,724‌

1,598‌

Shareholder

servicing

agent

fees

—

Class

W

2,750‌

1,388‌

1,114‌

Administrative

service

fees

107,557‌

71,396‌

61,337‌

Trustees

fees

114,442‌

40,288‌

20,666‌

Custodian

expenses

321,196‌

172,924‌

667,175‌

Merger

expenses

–‌

12,828‌

–‌

Overdraft

expense

56,075‌

60,795‌

62,791‌

Professional

fees

69,902‌

58,609‌

58,116‌

Registration

fees

88,034‌

79,260‌

76,503‌

Shareholder

reporting

expenses

73,296‌

12,445‌

15,045‌

Other

296,471‌

100,948‌

99,149‌

Total

expenses

31,965,591‌

14,621,222‌

8,651,146‌

Expenses

reimbursed

by

the

investment

adviser

(

15,647,806‌

)

(

12,257,107‌

)

(

7,980,847‌

)

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

(

34,685‌

)

–‌

(

239‌

)

Net

expenses

16,283,100‌

2,364,115‌

670,060‌

Net

investment

income

(loss)

191,780,313‌

43,039,020‌

38,835,254‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss):

Investments

*

(

219,214,126‌

)

(

29,344,437‌

)

(

43,565,687‌

)

Futures

contracts

–‌

–‌

–‌

Foreign

currency

transactions

(

825,034‌

)

(

929,941‌

)

(

1,104,716‌

)

In-kind

redemptions

7,181,961‌

–‌

–‌

Net

realized

gain

(loss)

(

212,857,199‌

)

(

30,274,378‌

)

(

44,670,403‌

)

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

‡

960,852,904‌

92,026,311‌

129,412,954‌

Futures

contracts

–‌

–‌

–‌

Foreign

currency

translations

921,910‌

282,344‌

160,138‌

Net

change

in

unrealized

appreciation

(depreciation)

961,774,814‌

92,308,655‌

129,573,092‌

Net

realized

and

unrealized

gain

(loss)

748,917,615‌

62,034,277‌

84,902,689‌

Net

increase

(decrease)

in

net

assets

from

operations

$

940,697,928‌

$

105,073,297‌

$

123,737,943‌

*  

Net

of

foreign

capital

gains

tax

$

–‌

$

(

1,652‌

)

$

925,498‌

‡

Net

of

change

in

unrealized

foreign

capital

gains

taxes

$

–‌

$

22,678‌

$

(

1,861,745‌

)

See

Notes

to

Financial

Statements

151

3.4

Social

Choice

International

Equity

Fund

$

50,393,784‌

651,240‌

245,599‌

–‌

(

4,249,864‌

)

47,040,759‌

4,302,882‌

1,150‌

68,759‌

1,915‌

16,639‌

60‌

1,546,938‌

9,429‌

–‌

57,142‌

25,178‌

118,412‌

–‌

10,067‌

57,603‌

90,798‌

33,492‌

265,409‌

6,605,873‌

–‌

–‌

6,605,873‌

40,434,886‌

(

14,182,770‌

)

2,558,436‌

189,281‌

–‌

(

11,435,053‌

)

158,872,464‌

(

414,957‌

)

157,294‌

158,614,801‌

147,179,748‌

$

187,614,634‌

$

–‌

$

–‌

Statement

of

Changes

in

Net

Assets

See

Notes

to

Financial

Statements

152

2.1

Growth

&

Income

Fund

2.2

Large-Cap

Growth

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

OPERATIONS

Net

investment

income

(loss)

$

62,241,751‌

$

69,192,437‌

$

24,669,757‌

$

23,905,981‌

Net

realized

gain

(loss)

1,125,593,787‌

345,927,077‌

17,637,893‌

(

50,515,628‌

)

Net

change

in

unrealized

appreciation

(depreciation)

(

427,787,463‌

)

(

1,615,994,298‌

)

980,591,499‌

(

2,213,768,416‌

)

Net

increase

(decrease)

in

net

assets

from

operations

760,048,075‌

(

1,200,874,784‌

)

1,022,899,149‌

(

2,240,378,063‌

)

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

–‌

–‌

Dividends:

Institutional

Class

(

115,711,297‌

)

(

334,083,998‌

)

(

4,801,785‌

)

(

192,317,971‌

)

Advisor

Class

(

259,463‌

)

(

606,524‌

)

(

11,731‌

)

(

577,503‌

)

Premier

Class

(

708,624‌

)

(

3,432,406‌

)

(

27,184‌

)

(

1,463,684‌

)

Retirement

Class

(

32,528,001‌

)

(

94,135,347‌

)

(

301,835‌

)

(

43,322,452‌

)

Retail

Class

(

69,931,420‌

)

(

196,234,351‌

)

(

1,525,896‌

)

(

137,102,651‌

)

Class

W

(

173,721,425‌

)

(

461,944,683‌

)

(

17,679,144‌

)

(

309,387,667‌

)

Total

distributions

(

392,860,230‌

)

(

1,090,437,309‌

)

(

24,347,575‌

)

(

684,171,928‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

313,453,630‌

478,207,774‌

488,159,221‌

832,365,660‌

Reinvestments

of

distributions

348,420,136‌

1,015,244,027‌

24,106,167‌

666,598,204‌

Redemptions

(

968,718,037‌

)

(

1,078,235,466‌

)

(

1,088,674,995‌

)

(

1,067,051,704‌

)

Net

increase

(decrease)

from

Fund

share

transactions

(

306,844,271‌

)

415,216,335‌

(

576,409,607‌

)

431,912,160‌

Net

increase

(decrease)

in

net

assets

60,343,574‌

(

1,876,095,758‌

)

422,141,967‌

(

2,492,637,831‌

)

Net

assets

at

the

beginning

of

period

5,117,881,082‌

6,993,976,840‌

4,697,007,233‌

7,189,645,064‌

Net

assets

at

the

end

of

period

$

5,178,224,656‌

$

5,117,881,082‌

$

5,119,149,200‌

$

4,697,007,233‌

See

Notes

to

Financial

Statements

153

2.3

Large-Cap

Value

Fund

2.4

Mid-Cap

Growth

Fund

2.5

Mid-Cap

Value

Fund

2.6

Quant

Small-Cap

Equity

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

$

91,633,160‌

$

89,614,717‌

$

917,248‌

$

4,965,960‌

$

26,912,215‌

$

33,884,074‌

$

29,010,440‌

$

25,184,909‌

344,337,147‌

211,927,322‌

(

52,312,414‌

)

(

82,861,388‌

)

(

74,073,832‌

)

219,214,048‌

31,431,780‌

146,394,895‌

(

254,993,253‌

)

(

643,300,022‌

)

66,903,491‌

(

657,818,858‌

)

(

29,602,108‌

)

(

361,743,840‌

)

(

187,426,272‌

)

(

541,650,722‌

)

180,977,054‌

(

341,757,983‌

)

15,508,325‌

(

735,714,286‌

)

(

76,763,725‌

)

(

108,645,718‌

)

(

126,984,052‌

)

(

370,070,918‌

)

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(

105,967,541‌

)

(

161,742,151‌

)

(

3,369,527‌

)

(

134,690,840‌

)

(

143,108,775‌

)

(

170,159,847‌

)

(

90,772,292‌

)

(

269,851,404‌

)

(

29,112‌

)

(

44,549‌

)

(

1,544‌

)

(

931,396‌

)

(

61,798‌

)

(

56,615‌

)

(

58,474‌

)

(

138,589‌

)

(

3,922,892‌

)

(

6,636,926‌

)

(

114,180‌

)

(

7,531,626‌

)

(

7,189,571‌

)

(

9,782,982‌

)

(

3,508,417‌

)

(

14,094,339‌

)

(

27,086,910‌

)

(

43,186,223‌

)

(

915,705‌

)

(

67,266,961‌

)

(

60,994,791‌

)

(

77,513,516‌

)

(

21,284,570‌

)

(

80,710,971‌

)

(

8,657,858‌

)

(

13,747,293‌

)

(

625,909‌

)

(

37,659,248‌

)

(

26,915,843‌

)

(

30,834,956‌

)

(

7,625,678‌

)

(

28,111,334‌

)

(

138,905,275‌

)

(

246,579,754‌

)

–‌

–‌

–‌

–‌

(

35,742,229‌

)

(

140,015,877‌

)

(

284,569,588‌

)

(

471,936,896‌

)

(

5,026,865‌

)

(

248,080,071‌

)

(

238,270,778‌

)

(

288,347,916‌

)

(

158,991,660‌

)

(

532,922,514‌

)

509,118,002‌

663,685,205‌

27,835,391‌

70,930,752‌

64,467,104‌

67,631,355‌

293,055,637‌

406,417,785‌

281,678,333‌

467,892,442‌

5,007,340‌

247,106,362‌

237,163,754‌

286,986,146‌

158,663,474‌

531,636,772‌

(

1,096,613,944‌

)

(

908,430,093‌

)

(

225,358,384‌

)

(

255,099,768‌

)

(

280,952,980‌

)

(

328,162,015‌

)

(

485,358,152‌

)

(

378,777,226‌

)

(

305,817,609‌

)

223,147,554‌

(

192,515,653‌

)

62,937,346‌

20,677,878‌

26,455,486‌

(

33,639,041‌

)

559,277,331‌

(

409,410,143‌

)

(

590,547,325‌

)

(

182,034,193‌

)

(

920,857,011‌

)

(

294,356,625‌

)

(

370,538,148‌

)

(

319,614,753‌

)

(

343,716,101‌

)

4,922,046,366‌

5,512,593,691‌

1,082,486,277‌

2,003,343,288‌

1,808,695,598‌

2,179,233,746‌

2,732,953,993‌

3,076,670,094‌

$

4,512,636,223‌

$

4,922,046,366‌

$

900,452,084‌

$

1,082,486,277‌

$

1,514,338,973‌

$

1,808,695,598‌

$

2,413,339,240‌

$

2,732,953,993‌

Statement

of

Changes

in

Net

Assets

(continued)

See

Notes

to

Financial

Statements

154

(continued)

(continued)

(continued)

Statement

of

Changes

in

Net

Assets

(continued)

2.7

Quant

Small/Mid-Cap

Equity

Fund

2.8

Social

Choice

Equity

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

OPERATIONS

Net

investment

income

(loss)

$

13,154,416‌

$

15,040,124‌

$

91,825,076‌

$

86,961,835‌

Net

realized

gain

(loss)

18,629,974‌

72,717,774‌

245,639,371‌

198,838,947‌

Net

change

in

unrealized

appreciation

(depreciation)

(

35,661,137‌

)

(

240,247,767‌

)

39,179,374‌

(

1,534,741,342‌

)

Net

increase

(decrease)

in

net

assets

from

operations

(

3,876,747‌

)

(

152,489,869‌

)

376,643,821‌

(

1,248,940,560‌

)

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

–‌

–‌

Dividends:

Institutional

Class

(

4,768,950‌

)

(

10,543,842‌

)

(

207,971,144‌

)

(

507,547,892‌

)

Advisor

Class

(

1,172,125‌

)

(

1,671,229‌

)

(

2,037,412‌

)

(

4,791,532‌

)

Premier

Class

(

8,980‌

)

(

43,542‌

)

(

3,186,415‌

)

(

9,768,722‌

)

Retirement

Class

(

19,327,406‌

)

(

18,326,059‌

)

(

34,961,840‌

)

(

87,918,098‌

)

Retail

Class

(

1,234,085‌

)

(

3,347,480‌

)

(

29,561,934‌

)

(

68,248,252‌

)

Class

W

(

60,331,732‌

)

(

162,456,600‌

)

–‌

–‌

Total

distributions

(

86,843,278‌

)

(

196,388,752‌

)

(

277,718,745‌

)

(

678,274,496‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

185,561,492‌

474,275,984‌

480,249,670‌

790,197,783‌

Fund

reorganizations

(see

note

1)

–‌

–‌

–‌

–‌

Reinvestments

of

distributions

86,759,916‌

196,137,188‌

265,916,495‌

653,124,260‌

Redemptions

(

410,510,041‌

)

(

241,979,076‌

)

(

1,477,620,233‌

)

(

1,111,495,539‌

)

Net

increase

(decrease)

from

Fund

share

transactions

(

138,188,633‌

)

428,434,096‌

(

731,454,068‌

)

331,826,504‌

Net

increase

(decrease)

in

net

assets

(

228,908,658‌

)

79,555,475‌

(

632,528,992‌

)

(

1,595,388,552‌

)

Net

assets

at

the

beginning

of

period

1,234,446,241‌

1,154,890,766‌

6,063,695,528‌

7,659,084,080‌

Net

assets

at

the

end

of

period

$

1,005,537,583‌

$

1,234,446,241‌

$

5,431,166,536‌

$

6,063,695,528‌

See

Notes

to

Financial

Statements

155

2.9

Social

Choice

Low

Carbon

Equity

Fund

3.01

Emerging

Markets

Equity

Fund

3.1

International

Equity

Fund

3.2

International

Opportunities

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

$

14,122,775‌

$

10,609,476‌

$

29,145,925‌

$

33,984,079‌

$

191,780,313‌

$

148,471,563‌

$

43,039,020‌

$

36,344,688‌

2,901,206‌

(

3,397,860‌

)

(

163,683,098‌

)

(

197,194,422‌

)

(

212,857,199‌

)

(

46,748,610‌

)

(

30,274,378‌

)

(

61,453,142‌

)

55,030,431‌

(

213,042,544‌

)

362,923,972‌

(

382,813,437‌

)

961,774,814‌

(

1,756,458,219‌

)

92,308,655‌

(

776,754,478‌

)

72,054,412‌

(

205,830,928‌

)

228,386,799‌

(

546,023,780‌

)

940,697,928‌

(

1,654,735,266‌

)

105,073,297‌

(

801,862,932‌

)

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(

8,421,282‌

)

(

25,369,815‌

)

(

110,455‌

)

(

57,149,105‌

)

(

53,022,200‌

)

(

78,121,349‌

)

(

59,935‌

)

(

12,354,356‌

)

(

137,185‌

)

(

392,122‌

)

(

51‌

)

(

32,120‌

)

(

49,632‌

)

(

80,609‌

)

(

15,479‌

)

(

464,051‌

)

(

105,528‌

)

(

353,066‌

)

(

1,417‌

)

(

2,048,469‌

)

(

1,314,382‌

)

(

2,007,432‌

)

(

997‌

)

(

67,149‌

)

(

8,580,397‌

)

(

29,391,640‌

)

(

10,002‌

)

(

19,011,896‌

)

(

6,179,370‌

)

(

11,150,380‌

)

(

41,756‌

)

(

13,180,758‌

)

(

850,635‌

)

(

3,402,491‌

)

–‌

(

1,747,210‌

)

(

7,130,146‌

)

(

11,664,129‌

)

(

2,670‌

)

(

703,812‌

)

–‌

–‌

(

11,306,655‌

)

(

261,412,650‌

)

(

84,267,011‌

)

(

96,863,433‌

)

(

3,104,263‌

)

(

203,729,522‌

)

(

18,095,027‌

)

(

58,909,134‌

)

(

11,428,580‌

)

(

341,401,450‌

)

(

151,962,741‌

)

(

199,887,332‌

)

(

3,225,100‌

)

(

230,499,648‌

)

140,285,561‌

352,703,544‌

314,530,104‌

797,616,716‌

493,936,595‌

1,849,104,192‌

344,566,383‌

503,943,618‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

463,567,903‌

16,435,097‌

52,501,514‌

11,428,560‌

341,330,675‌

149,042,694‌

195,173,692‌

3,221,382‌

230,428,535‌

(

173,462,772‌

)

(

126,995,719‌

)

(

577,304,281‌

)

(

355,879,739‌

)

(

1,547,746,723‌

)

(

677,319,148‌

)

(

645,532,412‌

)

(

299,941,075‌

)

(

16,742,114‌

)

278,209,339‌

(

251,345,617‌

)

783,067,652‌

(

904,767,434‌

)

1,366,958,736‌

(

297,744,647‌

)

897,998,981‌

37,217,271‌

13,469,277‌

(

34,387,398‌

)

(

104,357,578‌

)

(

116,032,247‌

)

(

487,663,862‌

)

(

195,896,450‌

)

(

134,363,599‌

)

1,071,755,679‌

1,058,286,402‌

1,571,849,082‌

1,676,206,660‌

6,258,180,663‌

6,745,844,525‌

2,385,536,341‌

2,519,899,940‌

$

1,108,972,950‌

$

1,071,755,679‌

$

1,537,461,684‌

$

1,571,849,082‌

$

6,142,148,416‌

$

6,258,180,663‌

$

2,189,639,891‌

$

2,385,536,341‌

Statement

of

Changes

in

Net

Assets

(continued)

See

Notes

to

Financial

Statements

156

(continued)

Statement

of

Changes

in

Net

Assets

(continued)

3.3

Quant

International

Small-Cap

Equity

Fund

3.4

Social

Choice

International

Equity

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

OPERATIONS

Net

investment

income

(loss)

$

38,835,254‌

$

52,398,897‌

$

40,434,886‌

$

29,379,855‌

Net

realized

gain

(loss)

(

44,670,403‌

)

(

119,853,810‌

)

(

11,435,053‌

)

(

11,730,947‌

)

Net

change

in

unrealized

appreciation

(depreciation)

129,573,092‌

(

332,635,068‌

)

158,614,801‌

(

309,661,958‌

)

Net

increase

(decrease)

in

net

assets

from

operations

123,737,943‌

(

400,089,981‌

)

187,614,634‌

(

292,013,050‌

)

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

–‌

–‌

Dividends:

Institutional

Class

(

2,265,188‌

)

(

5,395,633‌

)

(

16,758,430‌

)

(

17,567,457‌

)

Advisor

Class

(

2,284‌

)

(

5,296‌

)

(

209,129‌

)

(

82,867‌

)

Premier

Class

(

2,167‌

)

(

5,210‌

)

(

14,490‌

)

(

22,335‌

)

Retirement

Class

(

285,949‌

)

(

267,685‌

)

(

10,818,157‌

)

(

11,639,118‌

)

Retail

Class

(

26,222‌

)

(

60,769‌

)

(

466,477‌

)

(

648,843‌

)

Class

W

(

44,458,628‌

)

(

97,600,960‌

)

–‌

–‌

Total

distributions

(

47,040,438‌

)

(

103,335,553‌

)

(

28,266,683‌

)

(

29,960,620‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

90,698,605‌

186,236,611‌

324,914,382‌

599,018,623‌

Reinvestments

of

distributions

47,035,184‌

103,323,244‌

22,673,194‌

23,394,008‌

Redemptions

(

338,276,137‌

)

(

170,035,827‌

)

(

266,531,505‌

)

(

123,073,867‌

)

Net

increase

(decrease)

from

Fund

share

transactions

(

200,542,348‌

)

119,524,028‌

81,056,071‌

499,338,764‌

Net

increase

(decrease)

in

net

assets

(

123,844,843‌

)

(

383,901,506‌

)

240,404,022‌

177,365,094‌

Net

assets

at

the

beginning

of

period

1,195,171,573‌

1,579,073,079‌

1,145,824,102‌

968,459,008‌

Net

assets

at

the

end

of

period

$

1,071,326,730‌

$

1,195,171,573‌

$

1,386,228,124‌

$

1,145,824,102‌

Financial

Highlights

See

Notes

to

Financial

Statements

158

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.1

GROWTH

&

INCOME

FUND

Institutional

Class:

10/31/23

$

13.58‌

$

0.15‌

$

1.75‌

$

1.90‌

$

(0.20‌)

$

(0.97‌)

$

(1.17‌)

$

14.31‌

10/31/22

20.07‌

0.17‌

(3.24‌)

(3.07‌)

(0.17‌)

(3.25‌)

(3.42‌)

13.58‌

10/31/21

15.16‌

0.14‌

5.97‌

6.11‌

(0.16‌)

(1.04‌)

(1.20‌)

20.07‌

10/31/20

14.63‌

0.17‌

1.33‌

1.50‌

(0.21‌)

(0.76‌)

(0.97‌)

15.16‌

10/31/19

14.44‌

0.21‌

1.20‌

1.41‌

(0.18‌)

(1.04‌)

(1.22‌)

14.63‌

Advisor

Class:

10/31/23

13.60‌

0.14‌

1.74‌

1.88‌

(0.19‌)

(0.97‌)

(1.16‌)

14.32‌

10/31/22

20.09‌

0.15‌

(3.23‌)

(3.08‌)

(0.16‌)

(3.25‌)

(3.41‌)

13.60‌

10/31/21

15.17‌

0.12‌

5.99‌

6.11‌

(0.15‌)

(1.04‌)

(1.19‌)

20.09‌

10/31/20

14.64‌

0.15‌

1.33‌

1.48‌

(0.19‌)

(0.76‌)

(0.95‌)

15.17‌

10/31/19

14.45‌

0.20‌

1.19‌

1.39‌

(0.16‌)

(1.04‌)

(1.20‌)

14.64‌

Premier

Class:

10/31/23

13.62‌

0.14‌

1.74‌

1.88‌

(0.18‌)

(0.97‌)

(1.15‌)

14.35‌

10/31/22

20.11‌

0.14‌

(3.23‌)

(3.09‌)

(0.15‌)

(3.25‌)

(3.40‌)

13.62‌

10/31/21

15.19‌

0.11‌

5.99‌

6.10‌

(0.14‌)

(1.04‌)

(1.18‌)

20.11‌

10/31/20

14.65‌

0.15‌

1.33‌

1.48‌

(0.18‌)

(0.76‌)

(0.94‌)

15.19‌

10/31/19

14.45‌

0.19‌

1.20‌

1.39‌

(0.15‌)

(1.04‌)

(1.19‌)

14.65‌

Retirement

Class:

10/31/23

13.95‌

0.12‌

1.80‌

1.92‌

(0.17‌)

(0.97‌)

(1.14‌)

14.73‌

10/31/22

20.51‌

0.13‌

(3.31‌

)

(3.18‌)

(0.13‌)

(3.25‌)

(3.38‌)

13.95‌

10/31/21

15.47‌

0.09‌

6.11‌

6.20‌

(0.12‌)

(1.04‌)

(1.16‌)

20.51‌

10/31/20

14.91‌

0.13‌

1.36‌

1.49‌

(0.17‌)

(0.76‌)

(0.93‌)

15.47‌

10/31/19

14.69‌

0.18‌

1.22‌

1.40‌

(0.14‌)

(1.04‌)

(1.18‌)

14.91‌

Retail

Class:

10/31/23

20.52‌

0.18‌

2.71‌

2.89‌

(0.14‌)

(0.97‌)

(1.11‌)

22.30‌

10/31/22

28.59‌

0.20‌

(4.90‌)

(4.70‌)

(0.12‌)

(3

.25‌)

(3.37‌)

20.52‌

10/31/21

21.14‌

0.12‌

8.46‌

8.58‌

(0.09‌)

(1.04‌)

(1.13‌)

28.59‌

10/31/20

20.02‌

0.17‌

1.86‌

2.03‌

(0.15‌)

(0.76‌)

(0.91‌)

21.14‌

10/31/19

19.30‌

0.23‌

1.65‌

1.88‌

(0.12‌)

(1.04‌)

(1.16‌)

20.02‌

Class

W:

10/31/23

13.58‌

0.21‌

1.74‌

1.95‌

(0.26‌)

(0.97‌)

(1.23‌)

14.30‌

10/31/22

20.07‌

0.23‌

(3.23‌)

(3.00‌)

(0.24‌)

(3.25‌)

(3.49‌)

13.58‌

10/31/21

15.16‌

0.21‌

5.98‌

6.19‌

(0.24‌)

(1.04‌)

(1.28‌)

20.07‌

10/31/20

14.64‌

0.22‌

1.32‌

1.54‌

(0.26‌)

(0

.76‌)

(1.02‌)

15.16‌

10/31/19

14.45‌

0.27‌

1.19‌

1.46‌

(0.23‌)

(1.04‌)

(1.27‌)

14.64‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

f

Does

not

include

in-kind

transactions.

g

During

the

year

ended

10/31/23,

0.01%,

0.01%,

0.01%,

0.01%,

0.01%

and

0.01%

of

the

Fund’s

total

return

for

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W,

respectively,

consisted

of

a

voluntary

payment

from

the

Adviser.

See

Notes

to

Financial

Statements

159

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

15.18‌

%

g

$

1,357,423‌

0.41‌

%

0.40‌

%

1.11‌

%

108‌

%

(18.53‌)

1,358,311‌

0.41‌

0.40‌

1.08‌

74‌

42.33‌

1,988,937‌

0.40‌

0.40‌

0.77‌

61‌

f

10.81‌

1,126,795‌

0.40‌

0.40‌

1.15‌

64‌

10.94‌

1,409,853‌

0.41‌

0.40‌

1.51‌

68‌

14.97‌

g

3,719‌

0.50‌

0.50‌

1.01‌

108‌

(18.59‌)

3,048‌

0.50‌

0.50‌

1.01‌

74‌

42.23‌

3,428‌

0.50‌

0.50‌

0.66‌

61‌

f

10.70‌

2,701‌

0.49‌

0.49‌

1.04‌

64‌

10.83‌

2,075‌

0.51‌

0.50‌

1.44‌

68‌

14.96‌

g

5,566‌

0.56‌

0.55‌

0.98‌

108‌

(18.62‌)

8,396‌

0.55‌

0.55‌

0.87‌

74‌

42.08‌

20,731‌

0.55‌

0.55‌

0.63‌

61‌

f

10.67‌

25,805‌

0.55‌

0.55‌

1.03‌

64‌

10.74‌

44,314‌

0.56‌

0.55‌

1.34‌

68‌

14.85‌

g

414,554‌

0.66‌

0.65‌

0.86‌

108‌

(18.68‌)

406,033‌

0.66‌

0.65‌

0.83‌

74‌

41.96‌

577,096‌

0.65‌

0.65‌

0.51‌

61‌

f

10.50‌

452,343‌

0.65‌

0.65‌

0.89‌

64‌

10.67‌

497,202‌

0

.66‌

0.65‌

1.27‌

68‌

14.85‌

g

1,396,039‌

0.70‌

0.67‌

0.84‌

108‌

(18.73‌)

1,292,439‌

0.69‌

0.62‌

0.87‌

74‌

41.97‌

1,664,005‌

0.69‌

0.69‌

0.48‌

61‌

f

10.50‌

1,212,620‌

0.69‌

0.69‌

0.85‌

64‌

10.60‌

1,199,088‌

0.70‌

0.69‌

1.23‌

68‌

15.58‌

g

2,000,924‌

0.41‌

0.00‌

1.51‌

108‌

(18.17‌

)

2,049,653‌

0.41‌

0.00‌

1.49‌

74‌

42.93‌

2,739,781‌

0.40‌

0.00‌

1.17‌

61‌

f

11.21‌

2,914,760‌

0.40‌

0.00‌

1.53‌

64‌

11.39‌

3,363,807‌

0.41‌

0.00‌

1.93‌

68‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

160

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.2

LARGE-CAP

GROWTH

FUND

Institutional

Class:

10/31/23

$

16.54‌

$

0.07‌

$

3.71‌

$

3.78‌

$

(0.07‌)

$

—‌

$

(0.07‌)

$

20.25‌

10/31/22

26.91‌

0.06‌

(7.91‌)

(7.85‌)

(0.03‌)

(2.49‌)

(2.52‌)

16.54‌

10/31/21

27.14‌

0.02‌

8.17‌

8.19‌

(0.11‌)

(8.31‌)

(8.42‌)

26.91‌

10/31/20

21.43‌

0.08‌

6.59‌

6.67‌

(0.09‌)

(0.87‌)

(0.96‌)

27.14‌

10/31/19

21.42‌

0.11‌

2.37‌

2.48‌

(0.12‌)

(2.35‌)

(2.47‌)

21.43‌

Advisor

Class:

10/31/23

16.52‌

0.06‌

3.70‌

3.76‌

(0.05‌)

—‌

(0.05‌)

20.23‌

10/31/22

26.88‌

0.05‌

(7.91‌)

(7.86‌)

(0.01‌)

(2.49‌)

(2.50‌)

16.52‌

10/31/21

27.12‌

0.00‌

d

8.17‌

8.17‌

(0.10‌)

(8.31‌)

(8.41‌)

26.88‌

10/31/20

21.41‌

0.06‌

6.59‌

6.65‌

(0.07‌)

(0.87‌)

(0.94‌)

27.12‌

10/31/19

21.40‌

0.10‌

2.37‌

2.47‌

(0.11‌)

(2.35‌)

(2.46‌)

21.41‌

Premier

Class:

10/31/23

16.52‌

0.05‌

3.69‌

3.74‌

(0.04‌)

—‌

(0.04‌)

20.22‌

10/31/22

26.88‌

0.03‌

(7.90‌)

(7.87‌)

—‌

(2.49‌)

(2.49‌)

16.52‌

10/31/21

27.10‌

(0.01‌)

8.16‌

8.15‌

(0.06‌)

(8.31‌)

(8.37‌)

26.88‌

10/31/20

21.40‌

0.05‌

6.58‌

6.63‌

(0.06‌)

(0.87‌)

(0.93‌)

27.10‌

10/31/19

21.37‌

0.08‌

2.37‌

2.45‌

(0.07‌)

(2.35‌)

(2.42‌)

21.40‌

Retirement

Class:

10/31/23

16.33‌

0.02‌

3.67‌

3.69‌

(0.02‌)

—‌

(0.02‌)

20.00‌

10/31/22

26.63‌

0.01‌

(7.82‌)

(7.81‌)

—‌

(2.49‌)

(2.49‌)

16.33‌

10/31/21

26.93‌

(0.04‌)

8.10‌

8.06‌

(0.05‌)

(8.31‌)

(8.36‌)

26.63‌

10/31/20

21.27‌

0.02‌

6.54‌

6.56‌

(0.03‌)

(0.87‌)

(0.90‌)

26.93‌

10/31/19

21.27‌

0.06‌

2.36‌

2.42‌

(0.07‌)

(2.35‌)

(2.42‌)

21.27‌

Retail

Class:

10/31/23

16.43‌

0.02‌

3.69‌

3.71‌

(0.03‌)

—‌

(0.03‌)

20.11‌

10/31/22

26.77‌

0.02‌

(7.87‌)

(7.85‌)

—‌

(2.49‌)

(2.49‌)

16.43‌

10/31/21

27.03‌

(0.05‌)

8.14‌

8.09‌

(0.04‌)

(8.31‌)

(8.35‌)

26.77‌

10/31/20

21.34‌

0.01‌

6.57‌

6.58‌

(0.02‌)

(0.87‌)

(0.89‌)

27.03‌

10/31/19

21.33‌

0.05‌

2.36‌

2.41‌

(0.05‌)

(2.35‌)

(2.40‌)

21.34‌

Class

W:

10/31/23

16.59‌

0.15‌

3.71‌

3.86‌

(0.15‌)

—‌

(0.15‌)

20.30‌

10/31/22

27.00‌

0.14‌

(7.92‌)

(7.78‌)

(0.14‌)

(2.49‌)

(2.63‌)

16.59‌

10/31/21

27.24‌

0.12‌

8.19‌

8.31‌

(0.24‌)

(8.31‌)

(8.55‌)

27.00‌

10/31/20

21.50‌

0.18‌

6.61‌

6.79‌

(0.18‌)

(0.87‌)

(1.05‌)

27.24‌

10/31/19

21.43‌

0.19‌

2.37‌

2.56‌

(0.14‌)

(2.35‌)

(2.49‌)

21.50‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

d

Value

rounded

to

zero.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

g

During

the

year

ended

10/31/23,

0.05%,

0.05%,

0.06%,

0.05%,

0.05%

and

0.05%

of

the

Fund’s

total

return

for

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W,

respectively,

consisted

of

a

voluntary

payment

from

the

Adviser.

See

Notes

to

Financial

Statements

161

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

22.93‌

%

g

$

1,370,479‌

0.41‌

%

0.40‌

%

0.38‌

%

44‌

%

(32.08‌)

1,294,222‌

0.41‌

0.40‌

0.30‌

64‌

37.36‌

2,055,310‌

0.40‌

0.40‌

0.09‌

47‌

32.43‌

1,606,751‌

0.41‌

0.40‌

0.34‌

143‌

13.60‌

1,333,235‌

0.42‌

0.41‌

0.54‌

97‌

22.85‌

g

3,623‌

0.50‌

0.49‌

0.30‌

44‌

(32.13‌)

3,715‌

0.48‌

0.47‌

0.23‌

64‌

37.25‌

5,462‌

0.48‌

0.48‌

0.02‌

47‌

32.33‌

4,820‌

0.48‌

0.48‌

0.24‌

143‌

13.55‌

2,995‌

0.50‌

0.50‌

0.48‌

97‌

22.69‌

g

7,443‌

0.57‌

0.55‌

0.27‌

44‌

(32.17‌)

11,303‌

0.56‌

0.55‌

0.15‌

64‌

37.18‌

15,987‌

0.55‌

0.55‌

(0.06‌)

47‌

32.22‌

14,407‌

0.56‌

0.55‌

0.22‌

143‌

13.45‌

19,839‌

0.57‌

0.56‌

0.39‌

97‌

22.61‌

g

330,921‌

0.66‌

0.65‌

0.13‌

44‌

(32.22‌)

272,488‌

0.66‌

0.65‌

0.04‌

64‌

36.99‌

477,945‌

0.65‌

0.65‌

(0.16‌)

47‌

32.08‌

395,851‌

0.66‌

0.65‌

0.08‌

143‌

13.35‌

309,694‌

0.66‌

0.66‌

0.30‌

97‌

22.60‌

g

1,090,321‌

0.71‌

0.68‌

0.10‌

44‌

(32.23‌)

936,049‌

0.71‌

0.62‌

0.08‌

64‌

36.96‌

1,476,126‌

0.69‌

0.69‌

(0.20‌)

47‌

32.05‌

1,127,972‌

0.70‌

0.70‌

0.04‌

143‌

13.25‌

991,814‌

0.71‌

0.71‌

0.24‌

97‌

23.44‌

g

2,316,362‌

0.41‌

0.00‌

0.78‌

44‌

(31.80‌)

2,179,231‌

0.41‌

0.00‌

0.70‌

64‌

37.86‌

3,158,816‌

0.40‌

0.00‌

0.49‌

47‌

32.94‌

2,942,406‌

0.41‌

0.00‌

0.75‌

143‌

14.11‌

3,050,002‌

0.41‌

0.00‌

0.95‌

97‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

162

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.3

LARGE-CAP

VALUE

FUND

Institutional

Class:

10/31/23

$

19

.73‌

$

0

.35‌

$

0

.31‌

$

0

.66‌

$

(

0

.35‌

)

$

(

0

.81‌

)

$

(

1

.16‌

)

$

19

.23‌

10/31/22

23

.14‌

0

.32‌

(

1

.73‌

)

(

1

.41‌

)

(

0

.32‌

)

(

1

.68‌

)

(

2

.00‌

)

19

.73‌

10/31/21

16

.01‌

0

.28‌

7

.20‌

7

.48‌

(

0

.35‌

)

—‌

(

0

.35‌

)

23

.14‌

10/31/20

17

.68‌

0

.33‌

(

1

.62‌

)

(

1

.29‌

)

(

0

.38‌

)

—‌

(

0

.38‌

)

16

.01‌

10/31/19

17

.98‌

0

.34‌

1

.23‌

1

.57‌

(

0

.34‌

)

(

1

.53‌

)

(

1

.87‌

)

17

.68‌

Advisor

Class:

10/31/23

19

.71‌

0

.33‌

0

.31‌

0

.64‌

(

0

.34‌

)

(

0

.81‌

)

(

1

.15‌

)

19

.20‌

10/31/22

23

.12‌

0

.31‌

(

1

.74‌

)

(

1

.43‌

)

(

0

.30‌

)

(

1

.68‌

)

(

1

.98‌

)

19

.71‌

10/31/21

15

.99‌

0

.26‌

7

.21‌

7

.47‌

(

0

.34‌

)

—‌

(

0

.34‌

)

23

.12‌

10/31/20

17

.67‌

0

.31‌

(

1

.61‌

)

(

1

.30‌

)

(

0

.38‌

)

—‌

(

0

.38‌

)

15

.99‌

10/31/19

17

.97‌

0

.33‌

1

.23‌

1

.56‌

(

0

.33‌

)

(

1

.53‌

)

(

1

.86‌

)

17

.67‌

Premier

Class:

10/31/23

19

.68‌

0

.33‌

0

.29‌

0

.62‌

(

0

.32‌

)

(

0

.81‌

)

(

1

.13‌

)

19

.17‌

10/31/22

23

.08‌

0

.29‌

(

1

.73‌

)

(

1

.44‌

)

(

0

.28‌

)

(

1

.68‌

)

(

1

.96‌

)

19

.68‌

10/31/21

15

.97‌

0

.24‌

7

.19‌

7

.43‌

(

0

.32‌

)

—‌

(

0

.32‌

)

23

.08‌

10/31/20

17

.63‌

0

.31‌

(

1

.62‌

)

(

1

.31‌

)

(

0

.35‌

)

—‌

(

0

.35‌

)

15

.97‌

10/31/19

17

.92‌

0

.32‌

1

.22‌

1

.54‌

(

0

.30‌

)

(

1

.53‌

)

(

1

.83‌

)

17

.63‌

Retirement

Class:

10/31/23

19

.63‌

0

.30‌

0

.30‌

0

.60‌

(

0

.30‌

)

(

0

.81‌

)

(

1

.11‌

)

19

.12‌

10/31/22

23

.03‌

0

.27‌

(

1

.73‌

)

(

1

.46‌

)

(

0

.26‌

)

(

1

.68‌

)

(

1

.94‌

)

19

.63‌

10/31/21

15

.93‌

0

.22‌

7

.19‌

7

.41‌

(

0

.31‌

)

—‌

(

0

.31‌

)

23

.03‌

10/31/20

17

.60‌

0

.29‌

(

1

.63‌

)

(

1

.34‌

)

(

0

.33‌

)

—‌

(

0

.33‌

)

15

.93‌

10/31/19

17

.88‌

0

.30‌

1

.23‌

1

.53‌

(

0

.28‌

)

(

1

.53‌

)

(

1

.81‌

)

17

.60‌

Retail

Class:

10/31/23

18

.67‌

0

.28‌

0

.28‌

0

.56‌

(

0

.30‌

)

(

0

.81‌

)

(

1

.11‌

)

18

.12‌

10/31/22

21

.99‌

0

.26‌

(

1

.65‌

)

(

1

.39‌

)

(

0

.25‌

)

(

1

.68‌

)

(

1

.93‌

)

18

.67‌

10/31/21

15

.23‌

0

.20‌

6

.86‌

7

.06‌

(

0

.30‌

)

—‌

(

0

.30‌

)

21

.99‌

10/31/20

16

.84‌

0

.26‌

(

1

.54‌

)

(

1

.28‌

)

(

0

.33‌

)

—‌

(

0

.33‌

)

15

.23‌

10/31/19

17

.22‌

0

.28‌

1

.17‌

1

.45‌

(

0

.30‌

)

(

1

.53‌

)

(

1

.83‌

)

16

.84‌

Class

W:

10/31/23

19

.80‌

0

.43‌

0

.30‌

0

.73‌

(

0

.44‌

)

(

0

.81‌

)

(

1

.25‌

)

19

.28‌

10/31/22

23

.22‌

0

.41‌

(

1

.73‌

)

(

1

.32‌

)

(

0

.42‌

)

(

1

.68‌

)

(

2

.10‌

)

19

.80‌

10/31/21

16

.07‌

0

.36‌

7

.22‌

7

.58‌

(

0

.43‌

)

—‌

(

0

.43‌

)

23

.22‌

10/31/20

17

.74‌

0

.39‌

(

1

.61‌

)

(

1

.22‌

)

(

0

.45‌

)

—‌

(

0

.45‌

)

16

.07‌

10/31/19

17

.98‌

0

.40‌

1

.25‌

1

.65‌

(

0

.36‌

)

(

1

.53‌

)

(

1

.89‌

)

17

.74‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

See

Notes

to

Financial

Statements

163

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

3

.41‌

%

$

1,834,766‌

0

.41‌

%

0

.41‌

%

1

.77‌

%

23‌

%

(

6

.76‌

)

1,825,968‌

0

.41‌

0

.41‌

1

.59‌

21‌

47

.32‌

1,898,837‌

0

.41‌

0

.40‌

1

.32‌

14‌

(

7

.51‌

)

1,467,747‌

0

.41‌

0

.40‌

1

.98‌

26‌

10

.23‌

1,922,604‌

0

.41‌

0

.39‌

2

.06‌

79‌

3

.29‌

589‌

0

.49‌

0

.49‌

1

.69‌

23‌

(

6

.83‌

)

498‌

0

.49‌

0

.49‌

1

.51‌

21‌

47

.30‌

520‌

0

.48‌

0

.48‌

1

.23‌

14‌

(

7

.60‌

)

257‌

0

.47‌

0

.46‌

1

.91‌

26‌

10

.17‌

181‌

0

.45‌

0

.43‌

2

.00‌

79‌

3

.20‌

29,542‌

0

.56‌

0

.56‌

1

.65‌

23‌

(

6

.88‌

)

67,185‌

0

.56‌

0

.56‌

1

.42‌

21‌

47

.06‌

77,309‌

0

.56‌

0

.55‌

1

.18‌

14‌

(

7

.65‌

)

69,391‌

0

.56‌

0

.55‌

1

.85‌

26‌

10

.10‌

130,723‌

0

.56‌

0

.54‌

1

.92‌

79‌

3

.11‌

492,408‌

0

.66‌

0

.66‌

1

.53‌

23‌

(

7

.00‌

)

485,219‌

0

.66‌

0

.66‌

1

.33‌

21‌

47

.01‌

521,413‌

0

.66‌

0

.65‌

1

.08‌

14‌

(

7

.80‌

)

423,110‌

0

.66‌

0

.65‌

1

.73‌

26‌

10

.03‌

579,719‌

0

.66‌

0

.64‌

1

.82‌

79‌

3

.06‌

137,199‌

0

.72‌

0

.71‌

1

.48‌

23‌

(

6

.99‌

)

144,801‌

0

.72‌

0

.67‌

1

.33‌

21‌

46

.88‌

155,733‌

0

.72‌

0

.71‌

1

.01‌

14‌

(

7

.81‌

)

108,093‌

0

.73‌

0

.72‌

1

.67‌

26‌

9

.92‌

132,317‌

0

.72‌

0

.70‌

1

.75‌

79‌

3

.79‌

2,018,133‌

0

.41‌

0.00‌

2

.19‌

23‌

(

6

.34‌

)

2,398,375‌

0

.41‌

0.00‌

1

.99‌

21‌

47

.95‌

2,858,782‌

0

.41‌

0.00‌

1

.73‌

14‌

(

7

.19‌

)

2,698,308‌

0

.41‌

0.00‌

2

.37‌

26‌

10

.66‌

2,900,604‌

0

.41‌

0.00‌

2

.43‌

79‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

164

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.4

MID-CAP

GROWTH

FUND

Institutional

Class:

10/31/23

$

16.62‌

$

0.04‌

$

0.05‌

$

0.09‌

$

(0.10‌)

$

—‌

$

(0.10‌)

$

16.61‌

10/31/22

30.82‌

0.09‌

(10.55‌)

(10.46‌)

—‌

(3.74‌)

(3.74‌)

16.62‌

10/31/21

25.15‌

(0.06‌)

8.91‌

8.85‌

—‌

(3.18‌)

(3.18‌)

30.82‌

10/31/20

22.21‌

0.00‌

d

5.32‌

5.32‌

(0.04‌)

(2.34‌)

(2.38‌)

25.15‌

10/31/19

22.29‌

0.04‌

2.90‌

2.94‌

(0.08‌)

(2.94‌)

(3.02‌)

22.21‌

Advisor

Class:

10/31/23

16.58‌

0.02‌

0.05‌

0.07‌

(0.14‌)

—‌

(0.14‌)

16.51‌

10/31/22

30.79‌

0.01‌

(10.48‌)

(10.47‌)

—‌

(3.74‌)

(3.74‌)

16.58‌

10/31/21

25.14‌

(0.07‌)

8.90‌

8.83‌

—‌

(3.18‌)

(3.18‌)

30.79‌

10/31/20

22.20‌

(0.08‌)

5.39‌

5.31‌

(0.03‌)

(2.34‌)

(2.37‌)

25.14‌

10/31/19

22.28‌

0.03‌

2.90‌

2.93‌

(0.07‌)

(2.94‌)

(3.01‌)

22.20‌

Premier

Class:

10/31/23

16.40‌

0.01‌

0.05‌

0.06‌

(0.07‌)

—‌

(0.07‌)

16.39‌

10/31/22

30.51‌

0.06‌

(10

.43‌)

(10.37‌)

—‌

(3.74‌)

(3.74‌)

16.40‌

10/31/21

24.96‌

(0.10‌)

8.83‌

8.73‌

—‌

(3.18‌)

(3.18‌)

30.51‌

10/31/20

22.05‌

(0.03‌)

5.28‌

5.25‌

(0.00‌)

d

(2.34‌)

(2.34‌)

24.96‌

10/31/19

22.14‌

0.01‌

2.89‌

2.90‌

(0.05‌)

(2.94‌)

(2.99‌)

22.05‌

Retirement

Class:

10/31/23

15.73‌

(0.01‌)

0.05‌

0.04‌

(0.05‌)

—‌

(0.05‌)

15.72‌

10/31/22

29.44‌

0.04‌

(10.01‌)

(9.97‌)

—‌

(3.74‌)

(3

.74‌)

15.73‌

10/31/21

24.21‌

(0.13‌)

8.54‌

8.41‌

—‌

(3.18‌)

(3.18‌)

29.44‌

10/31/20

21.47‌

(0.06‌)

5.14‌

5.08‌

—‌

(2.34‌)

(2.34‌)

24.21‌

10/31/19

21.63‌

(0.01‌)

2.81‌

2.80‌

(0.02‌)

(2.94‌)

(2.96‌)

21.47‌

Retail

Class:

10/31/23

15.68‌

(0.01‌)

0.04‌

0.03‌

(0.06‌)

—‌

(0.06‌)

15.65‌

10/31/22

29.36‌

0.05‌

(9.99‌)

(9.94‌)

—‌

(3.74‌)

(3.74‌)

15.68‌

10/31/21

24.15‌

(0.14‌)

8.53‌

8.39‌

—‌

(3.18‌)

(3.18‌)

29.36‌

10/31/20

21.44‌

(0.07‌)

5.12‌

5.05‌

—‌

(2.34‌)

(2.34‌)

24.15‌

10/31/19

21.60‌

(0.02‌)

2.81‌

2.79‌

(0.01‌)

(2.94‌)

(2.95‌)

21.44‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

d

Value

rounded

to

zero.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

g

During

the

year

ended

10/31/23,

0.13%,

0.13%,

0.16%,

0.14%

and

0.13%

of

the

Fund’s

total

return

for

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

and

Retail

Class,

respectively,

consisted

of

a

voluntary

payment

from

the

Adviser.

See

Notes

to

Financial

Statements

165

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

0.52‌

%

g

$

482,635‌

0.49‌

%

0.49‌

%

0.21‌

%

38‌

%

(37.82‌)

591,705‌

0.48‌

0.48‌

0.46‌

62‌

37.33‌

1,113,795‌

0.46‌

0.46‌

(0.20‌)

76‌

26.16‌

721,712‌

0.48‌

0.48‌

(0.02‌)

107‌

15.93‌

761,182‌

0.48‌

0.48‌

0.20‌

81‌

0.43‌

g

171‌

0.58‌

0.58‌

0.12‌

38‌

(37.90‌)

179‌

0.47‌

0.47‌

0.05‌

62‌

37.26‌

7,557‌

0.50‌

0.50‌

(0.24‌)

76‌

26.09‌

5,113‌

0.56‌

0.56‌

(0.32‌)

107‌

15.87‌

214‌

0.54‌

0.54‌

0.14‌

81‌

0.35‌

g

13,050‌

0.64‌

0.64‌

0.08‌

38‌

(37.92‌)

28,494‌

0.63‌

0.63‌

0.28‌

62‌

37.11‌

60,298‌

0.61‌

0.61‌

(0.35‌)

76‌

26.03‌

39,582‌

0.63‌

0.63‌

(0.16‌)

107‌

15.70‌

52,210‌

0.63‌

0.63‌

0.06‌

81‌

0.25‌

g

248,486‌

0.74‌

0.74‌

(0.04‌)

38‌

(37.94‌)

291,903‌

0.73‌

0.73‌

0.21‌

62‌

36.93‌

524,637‌

0.71‌

0.71‌

(0.46‌)

76‌

25.91‌

375,489‌

0.73‌

0.73‌

(0.28‌)

107‌

15.61‌

350,839‌

0.73‌

0.73‌

(0.05‌)

81‌

0.17‌

g

156,111‌

0.80‌

0.78‌

(0.09‌)

38‌

(37.94‌)

170,207‌

0

.78‌

0.70‌

0.24‌

62‌

36.93‌

297,057‌

0.75‌

0.75‌

(0.50‌)

76‌

25.80‌

225,291‌

0.78‌

0.78‌

(0.33‌)

107‌

15.56‌

198,852‌

0.78‌

0.78‌

(0.10‌)

81‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

166

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.5

MID-CAP

VALUE

FUND

Institutional

Class:

10/31/23

$

17.45‌

$

0.26‌

$

(0.98‌)

$

(0.72‌)

$

(0.36‌)

$

(1.98‌)

$

(2.34‌)

$

14.39‌

10/31/22

21.23‌

0.33‌

(1.23‌)

(0.90‌)

(0.23‌)

(2.65‌)

(2.88‌)

17.45‌

10/31/21

14.40‌

0.21‌

6.92‌

7.13‌

(0.30‌)

—‌

(0.30‌)

21.23‌

10/31/20

20.40‌

0.23‌

(2.47‌)

(2.24‌)

(0.44‌)

(3.32‌)

(3.76‌)

14.40‌

10/31/19

22.30‌

0.43‌

0.87‌

1.30‌

(0.41‌)

(2.79‌)

(3.20‌)

20.40‌

Advisor

Class:

10/31/23

17.42‌

0.25‌

(0.98‌)

(0.73‌)

(0.35‌)

(1.98‌)

(2.33‌)

14.36‌

10/31/22

21.20‌

0.31‌

(1.23‌)

(0.92‌)

(0.21‌)

(2.65‌)

(2.86‌)

17.42‌

10/31/21

14.38‌

0.20‌

6.90‌

7.10‌

(0.28‌)

—‌

(0.28‌)

21.20‌

10/31/20

20.37‌

0.23‌

(2.47‌)

(2.24‌)

(0.43‌)

(3.32‌)

(3.75‌)

14.38‌

10/31/19

22.28‌

0.43‌

0.84‌

1.27‌

(0.39‌)

(2.79‌)

(3.18‌)

20.37‌

Premier

Class:

10/31/23

17.40‌

0.24‌

(0.98‌)

(0.74‌)

(0.33‌)

(1.98‌)

(2.31‌)

14.35‌

10/31/22

21.18‌

0.30‌

(1.24‌)

(0.94‌)

(0.19‌)

(2.65‌)

(2.84‌)

17.40‌

10/31/21

14.37‌

0.18‌

6.90‌

7.08‌

(0.27‌)

—‌

(0.27‌)

21.18‌

10/31/20

20.34‌

0.21‌

(2.46‌)

(2.25‌)

(0.40‌)

(3.32‌)

(3.72‌)

14.37‌

10/31/19

22.24‌

0.39‌

0.86‌

1.25‌

(0.36‌)

(2.79‌)

(3.15‌)

20

.34‌

Retirement

Class:

10/31/23

17.27‌

0.22‌

(0.97‌)

(0.75‌)

(0.31‌)

(1.98‌)

(2.29‌)

14.23‌

10/31/22

21.04‌

0.28‌

(1

.22‌)

(0.94‌)

(0.18‌)

(2.65‌)

(2.83‌)

17.27‌

10/31/21

14.28‌

0.16‌

6.86‌

7.02‌

(0.26‌)

—‌

(0.26‌)

21.04‌

10/31/20

20.24‌

0.20‌

(2.45‌)

(2.25‌)

(0.39‌)

(3.32‌)

(3.71‌)

14.28‌

10/31/19

22.14‌

0.38‌

0.85‌

1.23‌

(0.34‌)

(2.79‌)

(3.13‌)

20.24‌

Retail

Class:

10/31/23

16.70‌

0.20‌

(0.92‌)

(0.72‌)

(0.32‌)

(1.98‌)

(2.30‌)

13.68‌

10/31/22

20.42‌

0.27‌

(1.17‌)

(0.90‌)

(0.17‌)

(2.65‌

)

(2.82‌)

16.70‌

10/31/21

13.86‌

0.15‌

6.66‌

6.81‌

(0.25‌)

—‌

(0.25‌)

20.42‌

10/31/20

19.76‌

0.18‌

(2.38‌)

(

2.20‌)

(0.38‌)

(3.32‌)

(3.70‌)

13.86‌

10/31/19

21.70‌

0.36‌

0.83‌

1.19‌

(0.34‌)

(2.79‌)

(3.13‌)

19.76‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

g

During

the

year

ended

10/31/23,

0.06%,

0.06%,

0.08%,

0.06%

and

0.06%

of

the

Fund’s

total

return

for

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class

and

Retail

Class,

respectively,

consisted

of

a

voluntary

payment

from

the

Adviser.

See

Notes

to

Financial

Statements

167

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

(4.86‌)

%

g

$

932,572‌

0.46‌

%

0.46‌

%

1.69‌

%

78‌

%

(5.28‌)

1,089,731‌

0.45‌

0.45‌

1.83‌

80‌

50.13‌

1,291,813‌

0.45‌

0.44‌

1.11‌

80‌

(14.12‌)

1,045,293‌

0.46‌

0.43‌

1.47‌

143‌

7.32‌

1,881,808‌

0.44‌

0.40‌

2.17‌

81‌

(4.96‌)

g

387‌

0.56‌

0.56‌

1.59‌

78‌

(5.39‌)

465‌

0.54‌

0.54‌

1.70‌

80‌

49.96‌

416‌

0.54‌

0.54‌

1.05‌

80‌

(14.17‌)

446‌

0.55‌

0.53‌

1.45‌

143‌

7.18‌

879‌

0.54‌

0.49‌

2.22‌

81‌

(4.98‌)

g

25,087‌

0.61‌

0.61‌

1.56‌

78‌

(5.46‌)

53,551‌

0.60‌

0.60‌

1.65‌

80‌

49.84‌

73,331‌

0.60‌

0.59‌

0.95‌

80‌

(14.20‌)

68,187‌

0.61‌

0.58‌

1.36‌

143‌

7.11‌

124,254‌

0.59‌

0.55‌

1.98‌

81‌

(5.08‌)

g

385,334‌

0.71‌

0.71‌

1.43‌

78‌

(5.54‌)

468,267‌

0.70‌

0.70‌

1.56‌

80‌

49.70‌

589,412‌

0.70‌

0.69‌

0.86‌

80‌

(14.29‌)

413,497‌

0.71‌

0.68‌

1.29‌

143‌

7.01‌

590,795‌

0.69‌

0.65‌

1.92‌

81‌

(5.12‌)

g

170,959‌

0.77‌

0.75‌

1.39‌

78‌

(5.50‌)

196,682‌

0.76‌

0.70‌

1.57‌

80‌

49.65‌

224,262‌

0.76‌

0.75‌

0.80‌

80‌

(14.37‌)

168,504‌

0.78‌

0.76‌

1.21‌

143‌

6.96‌

230,989‌

0.74‌

0.70‌

1.89‌

81‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

168

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.6

QUANT

SMALL-CAP

EQUITY

FUND

Institutional

Class:

10/31/23

$

16

.68‌

$

0

.17‌

$

(

1

.02‌

)

$

(

0

.85‌

)

$

(

0

.16‌

)

$

(

0

.83‌

)

$

(

0

.99‌

)

$

14

.84‌

10/31/22

23

.18‌

0

.15‌

(

2

.62‌

)

(

2

.47‌

)

(

0

.12‌

)

(

3

.91‌

)

(

4

.03‌

)

16

.68‌

10/31/21

14

.40‌

0

.10‌

8

.80‌

8

.90‌

(

0

.12‌

)

—‌

(

0

.12‌

)

23

.18‌

10/31/20

16

.59‌

0

.09‌

(

1

.38‌

)

(

1

.29‌

)

(

0

.18‌

)

(

0

.72‌

)

(

0

.90‌

)

14

.40‌

10/31/19

18

.77‌

0

.16‌

0

.55‌

0

.71‌

(

0

.14‌

)

(

2

.75‌

)

(

2

.89‌

)

16

.59‌

Advisor

Class:

10/31/23

16

.67‌

0

.16‌

(

1

.02‌

)

(

0

.86‌

)

(

0

.15‌

)

(

0

.83‌

)

(

0

.98‌

)

14

.83‌

10/31/22

23

.17‌

0

.14‌

(

2

.62‌

)

(

2

.48‌

)

(

0

.11‌

)

(

3

.91‌

)

(

4

.02‌

)

16

.67‌

10/31/21

14

.39‌

0

.08‌

8

.80‌

8

.88‌

(

0

.10‌

)

—‌

(

0

.10‌

)

23

.17‌

10/31/20

16

.56‌

0

.08‌

(

1

.38‌

)

(

1

.30‌

)

(

0

.15‌

)

(

0

.72‌

)

(

0

.87‌

)

14

.39‌

10/31/19

18

.75‌

0

.15‌

0

.53‌

0

.68‌

(

0

.12‌

)

(

2

.75‌

)

(

2

.87‌

)

16

.56‌

Premier

Class:

10/31/23

16

.54‌

0

.15‌

(

1

.02‌

)

(

0

.87‌

)

(

0

.13‌

)

(

0

.83‌

)

(

0

.96‌

)

14

.71‌

10/31/22

23

.01‌

0

.12‌

(

2

.60‌

)

(

2

.48‌

)

(

0

.08‌

)

(

3

.91‌

)

(

3

.99‌

)

16

.54‌

10/31/21

14

.30‌

0

.07‌

8

.73‌

8

.80‌

(

0

.09‌

)

—‌

(

0

.09‌

)

23

.01‌

10/31/20

16

.47‌

0

.07‌

(

1

.37‌

)

(

1

.30‌

)

(

0

.15‌

)

(

0

.72‌

)

(

0

.87‌

)

14

.30‌

10/31/19

18

.64‌

0

.14‌

0

.54‌

0

.68‌

(

0

.10‌

)

(

2

.75‌

)

(

2

.85‌

)

16

.47‌

Retirement

Class:

10/31/23

16

.03‌

0

.13‌

(

0

.99‌

)

(

0

.86‌

)

(

0

.11‌

)

(

0

.83‌

)

(

0

.94‌

)

14

.23‌

10/31/22

22

.43‌

0

.10‌

(

2

.53‌

)

(

2

.43‌

)

(

0

.06‌

)

(

3

.91‌

)

(

3

.97‌

)

16

.03‌

10/31/21

13

.94‌

0

.04‌

8

.53‌

8

.57‌

(

0

.08‌

)

—‌

(

0

.08‌

)

22

.43‌

10/31/20

16

.08‌

0

.06‌

(

1

.35‌

)

(

1

.29‌

)

(

0

.13‌

)

(

0

.72‌

)

(

0

.85‌

)

13

.94‌

10/31/19

18

.27‌

0

.12‌

0

.52‌

0

.64‌

(

0

.08‌

)

(

2

.75‌

)

(

2

.83‌

)

16

.08‌

Retail

Class:

10/31/23

15

.76‌

0

.12‌

(

0

.97‌

)

(

0

.85‌

)

(

0

.11‌

)

(

0

.83‌

)

(

0

.94‌

)

13

.97‌

10/31/22

22

.12‌

0

.10‌

(

2

.49‌

)

(

2

.39‌

)

(

0

.06‌

)

(

3

.91‌

)

(

3

.97‌

)

15

.76‌

10/31/21

13

.75‌

0

.04‌

8

.41‌

8

.45‌

(

0

.08‌

)

—‌

(

0

.08‌

)

22

.12‌

10/31/20

15

.87‌

0

.05‌

(

1

.32‌

)

(

1

.27‌

)

(

0

.13‌

)

(

0

.72‌

)

(

0

.85‌

)

13

.75‌

10/31/19

18

.08‌

0

.12‌

0

.50‌

0

.62‌

(

0

.08‌

)

(

2

.75‌

)

(

2

.83‌

)

15

.87‌

Class

W:

10/31/23

16

.72‌

0

.24‌

(

1

.03‌

)

(

0

.79‌

)

(

0

.23‌

)

(

0

.83‌

)

(

1

.06‌

)

14

.87‌

10/31/22

23

.25‌

0

.22‌

(

2

.62‌

)

(

2

.40‌

)

(

0

.22‌

)

(

3

.91‌

)

(

4

.13‌

)

16

.72‌

10/31/21

14

.43‌

0

.19‌

8

.81‌

9

.00‌

(

0

.18‌

)

—‌

(

0

.18‌

)

23

.25‌

10/31/20

16

.64‌

0

.14‌

(

1

.37‌

)

(

1

.23‌

)

(

0

.26‌

)

(

0

.72‌

)

(

0

.98‌

)

14

.43‌

10/31/19

18

.77‌

0

.23‌

0

.55‌

0

.78‌

(

0

.16‌

)

(

2

.75‌

)

(

2

.91‌

)

16

.64‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

169

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

(

5

.35‌

)

%

$

1,466,752‌

0

.42‌

%

0

.42‌

%

1

.07‌

%

75‌

%

(

12

.42‌

)

1,557,567‌

0

.42‌

0

.42‌

0

.87‌

74‌

62

.02‌

1,554,570‌

0

.41‌

0

.41‌

0

.49‌

64‌

f

(

8

.35‌

)

1,150,062‌

0

.43‌

0

.40‌

0

.65‌

93‌

5

.34‌

1,482,549‌

0

.42‌

0

.39‌

1

.01‌

98‌

(

5

.41‌

)

775‌

0

.49‌

0

.49‌

1

.02‌

75‌

(

12

.48‌

)

1,006‌

0

.48‌

0

.48‌

0

.81‌

74‌

61

.95‌

781‌

0

.48‌

0

.47‌

0

.40‌

64‌

f

(

8

.46‌

)

464‌

0

.50‌

0

.48‌

0

.58‌

93‌

5

.25‌

757‌

0

.52‌

0

.50‌

0

.89‌

98‌

(

5

.49‌

)

27,100‌

0

.57‌

0

.57‌

0

.94‌

75‌

(

12

.58‌

)

59,270‌

0

.57‌

0

.57‌

0

.72‌

74‌

61

.90‌

80,889‌

0

.56‌

0

.56‌

0

.31‌

64‌

f

(

8

.57‌

)

65,169‌

0

.58‌

0

.55‌

0

.49‌

93‌

5

.28‌

114,749‌

0

.57‌

0

.54‌

0

.85‌

98‌

(

5

.58‌

)

336,799‌

0

.67‌

0

.67‌

0

.82‌

75‌

(

12

.65‌

)

368,657‌

0

.67‌

0

.67‌

0

.61‌

74‌

61

.64‌

451,648‌

0

.66‌

0

.66‌

0

.22‌

64‌

f

(

8

.61‌

)

328,265‌

0

.68‌

0

.65‌

0

.40‌

93‌

5

.14‌

440,064‌

0

.67‌

0

.64‌

0

.76‌

98‌

(

5

.63‌

)

117,417‌

0

.72‌

0

.72‌

0

.77‌

75‌

(

12

.67‌

)

129,747‌

0

.72‌

0

.69‌

0

.60‌

74‌

61

.59‌

157,995‌

0

.72‌

0

.69‌

0

.18‌

64‌

f

(

8

.61‌

)

100,998‌

0

.74‌

0

.67‌

0

.38‌

93‌

5

.06‌

127,462‌

0

.72‌

0

.65‌

0

.74‌

98‌

(

4

.91‌

)

464,497‌

0

.42‌

0.00‌

1

.50‌

75‌

(

12

.05‌

)

616,706‌

0

.42‌

0.00‌

1

.29‌

74‌

62

.73‌

830,786‌

0

.41‌

0.00‌

0

.88‌

64‌

f

(

8

.01‌

)

679,638‌

0

.42‌

0.00‌

0

.98‌

93‌

5

.78‌

778,275‌

0

.42‌

0.00‌

1

.40‌

98‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

170

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.7

QUANT

SMALL/MID-CAP

EQUITY

FUND

Institutional

Class:

10/31/23

$

12

.98‌

$

0

.12‌

$

(

0

.29‌

)

$

(

0

.17‌

)

$

(

0

.11‌

)

$

(

0

.81‌

)

$

(

0

.92‌

)

$

11

.89‌

10/31/22

18

.26‌

0

.15‌

(

2

.26‌

)

(

2

.11‌

)

(

0

.19‌

)

(

2

.98‌

)

(

3

.17‌

)

12

.98‌

10/31/21

11

.43‌

0

.12‌

6

.96‌

7

.08‌

(

0

.10‌

)

(

0

.15‌

)

(

0

.25‌

)

18

.26‌

10/31/20

12

.29‌

0

.10‌

(

0

.24‌

)

(

0

.14‌

)

(

0

.11‌

)

(

0

.61‌

)

(

0

.72‌

)

11

.43‌

10/31/19

12

.43‌

0

.11‌

1

.08‌

1

.19‌

(

0

.10‌

)

(

1

.23‌

)

(

1

.33‌

)

12

.29‌

Advisor

Class:

10/31/23

13

.00‌

0

.10‌

(

0

.29‌

)

(

0

.19‌

)

(

0

.10‌

)

(

0

.81‌

)

(

0

.91‌

)

11

.90‌

10/31/22

18

.28‌

0

.12‌

(

2

.25‌

)

(

2

.13‌

)

(

0

.17‌

)

(

2

.98‌

)

(

3

.15‌

)

13

.00‌

10/31/21

11

.45‌

0

.10‌

6

.97‌

7

.07‌

(

0

.09‌

)

(

0

.15‌

)

(

0

.24‌

)

18

.28‌

10/31/20

12

.31‌

0

.08‌

(

0

.23‌

)

(

0

.15‌

)

(

0

.10‌

)

(

0

.61‌

)

(

0

.71‌

)

11

.45‌

10/31/19

12

.44‌

0

.11‌

1

.08‌

1

.19‌

(

0

.09‌

)

(

1

.23‌

)

(

1

.32‌

)

12

.31‌

Premier

Class:

10/31/23

13

.06‌

0

.10‌

(

0

.30‌

)

(

0

.20‌

)

(

0

.08‌

)

(

0

.81‌

)

(

0

.89‌

)

11

.97‌

10/31/22

18

.35‌

0

.13‌

(

2

.28‌

)

(

2

.15‌

)

(

0

.16‌

)

(

2

.98‌

)

(

3

.14‌

)

13

.06‌

10/31/21

11

.49‌

0

.09‌

7

.00‌

7

.09‌

(

0

.08‌

)

(

0

.15‌

)

(

0

.23‌

)

18

.35‌

10/31/20

12

.27‌

0

.08‌

(

0

.24‌

)

(

0

.16‌

)

(

0

.01‌

)

(

0

.61‌

)

(

0

.62‌

)

11

.49‌

10/31/19

12

.41‌

0

.09‌

1

.08‌

1

.17‌

(

0

.08‌

)

(

1

.23‌

)

(

1

.31‌

)

12

.27‌

Retirement

Class:

10/31/23

12

.89‌

0

.09‌

(

0

.29‌

)

(

0

.20‌

)

(

0

.09‌

)

(

0

.81‌

)

(

0

.90‌

)

11

.79‌

10/31/22

18

.16‌

0

.11‌

(

2

.25‌

)

(

2

.14‌

)

(

0

.15‌

)

(

2

.98‌

)

(

3

.13‌

)

12

.89‌

10/31/21

11

.38‌

0

.08‌

6

.93‌

7

.01‌

(

0

.08‌

)

(

0

.15‌

)

(

0

.23‌

)

18

.16‌

10/31/20

12

.24‌

0

.07‌

(

0

.24‌

)

(

0

.17‌

)

(

0

.08‌

)

(

0

.61‌

)

(

0

.69‌

)

11

.38‌

10/31/19

12

.39‌

0

.08‌

1

.07‌

1

.15‌

(

0

.07‌

)

(

1

.23‌

)

(

1

.30‌

)

12

.24‌

Retail

Class:

10/31/23

12

.87‌

0

.08‌

(

0

.29‌

)

(

0

.21‌

)

(

0

.07‌

)

(

0

.81‌

)

(

0

.88‌

)

11

.78‌

10/31/22

18

.12‌

0

.10‌

(

2

.24‌

)

(

2

.14‌

)

(

0

.13‌

)

(

2

.98‌

)

(

3

.11‌

)

12

.87‌

10/31/21

11

.36‌

0

.05‌

6

.92‌

6

.97‌

(

0

.06‌

)

(

0

.15‌

)

(

0

.21‌

)

18

.12‌

10/31/20

12

.21‌

0

.06‌

(

0

.23‌

)

(

0

.17‌

)

(

0

.07‌

)

(

0

.61‌

)

(

0

.68‌

)

11

.36‌

10/31/19

12

.37‌

0

.07‌

1

.06‌

1

.13‌

(

0

.06‌

)

(

1

.23‌

)

(

1

.29‌

)

12

.21‌

Class

W:

10/31/23

13

.05‌

0

.18‌

(

0

.31‌

)

(

0

.13‌

)

(

0

.17‌

)

(

0

.81‌

)

(

0

.98‌

)

11

.94‌

10/31/22

18

.36‌

0

.22‌

(

2

.27‌

)

(

2

.05‌

)

(

0

.28‌

)

(

2

.98‌

)

(

3

.26‌

)

13

.05‌

10/31/21

11

.48‌

0

.19‌

6

.99‌

7

.18‌

(

0

.15‌

)

(

0

.15‌

)

(

0

.30‌

)

18

.36‌

10/31/20

12

.34‌

0

.15‌

(

0

.23‌

)

(

0

.08‌

)

(

0

.17‌

)

(

0

.61‌

)

(

0

.78‌

)

11

.48‌

10/31/19

12

.44‌

0

.17‌

1

.07‌

1

.24‌

(

0

.11‌

)

(

1

.23‌

)

(

1

.34‌

)

12

.34‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

See

Notes

to

Financial

Statements

171

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

(

1

.30‌

)

%

$

76,784‌

0

.47‌

%

0

.47‌

%

0

.95‌

%

86‌

%

(

13

.73‌

)

67,645‌

0

.48‌

0

.48‌

1

.08‌

90‌

62

.76‌

63,132‌

0

.47‌

0

.47‌

0

.73‌

85‌

(

1

.48‌

)

41,061‌

0

.50‌

0

.50‌

0

.88‌

88‌

11

.20‌

43,317‌

0

.50‌

0

.50‌

0

.95‌

81‌

(

1

.48‌

)

28,399‌

0

.59‌

0

.59‌

0

.83‌

86‌

(

13

.81‌

)

14,375‌

0

.60‌

0

.60‌

0

.91‌

90‌

62

.57‌

9,481‌

0

.59‌

0

.59‌

0

.57‌

85‌

(

1

.55‌

)

1,702‌

0

.58‌

0

.58‌

0

.72‌

88‌

11

.18‌

244‌

0

.54‌

0

.54‌

0

.94‌

81‌

(

1

.51‌

)

120‌

0

.64‌

0

.64‌

0

.80‌

86‌

(

13

.86‌

)

131‌

0

.64‌

0

.64‌

0

.92‌

90‌

62

.45‌

254‌

0

.66‌

0

.66‌

0

.54‌

85‌

(

1

.61‌

)

115‌

0

.68‌

0

.68‌

0

.71‌

88‌

11

.04‌

123‌

0

.66‌

0

.66‌

0

.80‌

81‌

(

1

.57‌

)

322,111‌

0

.72‌

0

.72‌

0

.72‌

86‌

(

13

.93‌

)

258,943‌

0

.73‌

0

.73‌

0

.80‌

90‌

62

.34‌

91,997‌

0

.72‌

0

.72‌

0

.48‌

85‌

(

1

.70‌

)

21,008‌

0

.75‌

0

.75‌

0

.61‌

88‌

10

.89‌

11,950‌

0

.75‌

0

.75‌

0

.71‌

81‌

(

1

.63‌

)

18,878‌

0

.79‌

0

.79‌

0

.64‌

86‌

(

13

.97‌

)

17,929‌

0

.81‌

0

.78‌

0

.75‌

90‌

62

.02‌

17,683‌

0

.87‌

0

.87‌

0

.32‌

85‌

(

1

.76‌

)

6,757‌

0

.89‌

0

.89‌

0

.51‌

88‌

10

.67‌

5,765‌

0

.88‌

0

.88‌

0

.59‌

81‌

(

0

.93‌

)

559,246‌

0

.47‌

0.00‌

1

.44‌

86‌

(

13

.30‌

)

875,424‌

0

.48‌

0.00‌

1

.55‌

90‌

63

.50‌

972,344‌

0

.47‌

0.00‌

1

.19‌

85‌

(

0

.97‌

)

675,231‌

0

.50‌

0.00‌

1

.37‌

88‌

11

.73‌

624,076‌

0

.50‌

0.00‌

1

.46‌

81‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

172

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.8

SOCIAL

CHOICE

EQUITY

FUND

Institutional

Class:

10/31/23

$

23

.20‌

$

0

.39‌

$

1

.06‌

$

1

.45‌

$

(

0

.36‌

)

$

(

0

.75‌

)

$

(

1

.11‌

)

$

23

.54‌

10/31/22

30

.44‌

0

.34‌

(

4

.89‌

)

(

4

.55‌

)

(

0

.33‌

)

(

2

.36‌

)

(

2

.69‌

)

23

.20‌

10/31/21

21

.42‌

0

.31‌

9

.05‌

9

.36‌

(

0

.30‌

)

(

0

.04‌

)

(

0

.34‌

)

30

.44‌

10/31/20

20

.36‌

0

.31‌

1

.76‌

2

.07‌

(

0

.33‌

)

(

0

.68‌

)

(

1

.01‌

)

21

.42‌

10/31/19

19

.40‌

0

.34‌

2

.25‌

2

.59‌

(

0

.31‌

)

(

1

.32‌

)

(

1

.63‌

)

20

.36‌

Advisor

Class:

10/31/23

23

.17‌

0

.36‌

1

.07‌

1

.43‌

(

0

.34‌

)

(

0

.75‌

)

(

1

.09‌

)

23

.51‌

10/31/22

30

.40‌

0

.32‌

(

4

.88‌

)

(

4

.56‌

)

(

0

.31‌

)

(

2

.36‌

)

(

2

.67‌

)

23

.17‌

10/31/21

21

.39‌

0

.29‌

9

.05‌

9

.34‌

(

0

.29‌

)

(

0

.04‌

)

(

0

.33‌

)

30

.40‌

10/31/20

20

.34‌

0

.29‌

1

.75‌

2

.04‌

(

0

.31‌

)

(

0

.68‌

)

(

0

.99‌

)

21

.39‌

10/31/19

19

.39‌

0

.33‌

2

.24‌

2

.57‌

(

0

.30‌

)

(

1

.32‌

)

(

1

.62‌

)

20

.34‌

Premier

Class:

10/31/23

23

.08‌

0

.35‌

1

.05‌

1

.40‌

(

0

.31‌

)

(

0

.75‌

)

(

1

.06‌

)

23

.42‌

10/31/22

30

.29‌

0

.29‌

(

4

.86‌

)

(

4

.57‌

)

(

0

.28‌

)

(

2

.36‌

)

(

2

.64‌

)

23

.08‌

10/31/21

21

.32‌

0

.27‌

9

.01‌

9

.28‌

(

0

.27‌

)

(

0

.04‌

)

(

0

.31‌

)

30

.29‌

10/31/20

20

.27‌

0

.28‌

1

.74‌

2

.02‌

(

0

.29‌

)

(

0

.68‌

)

(

0

.97‌

)

21

.32‌

10/31/19

19

.33‌

0

.31‌

2

.23‌

2

.54‌

(

0

.28‌

)

(

1

.32‌

)

(

1

.60‌

)

20

.27‌

Retirement

Class:

10/31/23

23

.59‌

0

.33‌

1

.09‌

1

.42‌

(

0

.30‌

)

(

0

.75‌

)

(

1

.05‌

)

23

.96‌

10/31/22

30

.90‌

0

.28‌

(

4

.97‌

)

(

4

.69‌

)

(

0

.26‌

)

(

2

.36‌

)

(

2

.62‌

)

23

.59‌

10/31/21

21

.75‌

0

.25‌

9

.19‌

9

.44‌

(

0

.25‌

)

(

0

.04‌

)

(

0

.29‌

)

30

.90‌

10/31/20

20

.66‌

0

.26‌

1

.79‌

2

.05‌

(

0

.28‌

)

(

0

.68‌

)

(

0

.96‌

)

21

.75‌

10/31/19

19

.67‌

0

.30‌

2

.27‌

2

.57‌

(

0

.26‌

)

(

1

.32‌

)

(

1

.58‌

)

20

.66‌

Retail

Class:

10/31/23

20

.15‌

0

.28‌

0

.92‌

1

.20‌

(

0

.31‌

)

(

0

.75‌

)

(

1

.06‌

)

20

.29‌

10/31/22

26

.78‌

0

.24‌

(

4

.25‌

)

(

4

.01‌

)

(

0

.26‌

)

(

2

.36‌

)

(

2

.62‌

)

20

.15‌

10/31/21

18

.88‌

0

.21‌

7

.98‌

8

.19‌

(

0

.25‌

)

(

0

.04‌

)

(

0

.29‌

)

26

.78‌

10/31/20

18

.07‌

0

.22‌

1

.55‌

1

.77‌

(

0

.28‌

)

(

0

.68‌

)

(

0

.96‌

)

18

.88‌

10/31/19

17

.40‌

0

.26‌

1

.99‌

2

.25‌

(

0

.26‌

)

(

1

.32‌

)

(

1

.58‌

)

18

.07‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

See

Notes

to

Financial

Statements

173

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

6

.42‌

%

$

4,068,636‌

0

.18‌

%

0

.17‌

%

1

.62‌

%

15‌

%

(

16

.45‌

)

4,583,693‌

0

.18‌

0

.17‌

1

.34‌

19‌

44

.13‌

5,751,972‌

0

.17‌

0

.16‌

1

.15‌

27‌

10

.45‌

3,961,520‌

0

.18‌

0

.17‌

1

.52‌

26‌

14

.83‌

3,440,954‌

0

.17‌

0

.17‌

1

.81‌

21‌

6

.33‌

44,145‌

0

.27‌

0

.25‌

1

.52‌

15‌

(

16

.51‌

)

40,920‌

0

.27‌

0

.26‌

1

.26‌

19‌

44

.05‌

55,706‌

0

.25‌

0

.25‌

1

.06‌

27‌

10

.34‌

37,323‌

0

.26‌

0

.25‌

1

.43‌

26‌

14

.74‌

22,476‌

0

.24‌

0

.24‌

1

.73‌

21‌

6

.22‌

38,800‌

0

.35‌

0

.34‌

1

.47‌

15‌

(

16

.57‌

)

69,976‌

0

.37‌

0

.36‌

1

.15‌

19‌

43

.89‌

112,030‌

0

.33‌

0

.32‌

0

.99‌

27‌

10

.26‌

89,235‌

0

.34‌

0

.33‌

1

.38‌

26‌

14

.62‌

95,411‌

0

.33‌

0

.33‌

1

.66‌

21‌

6

.14‌

723,544‌

0

.43‌

0

.42‌

1

.36‌

15‌

(

16

.65‌

)

805,465‌

0

.43‌

0

.42‌

1

.09‌

19‌

43

.75‌

1,047,445‌

0

.42‌

0

.41‌

0

.90‌

27‌

10

.20‌

767,329‌

0

.43‌

0

.42‌

1

.27‌

26‌

14

.48‌

674,563‌

0

.42‌

0

.42‌

1

.55‌

21‌

6

.12‌

556,042‌

0

.46‌

0

.43‌

1

.34‌

15‌

(

16

.64‌

)

563,642‌

0

.46‌

0

.41‌

1

.11‌

19‌

43

.78‌

691,931‌

0

.44‌

0

.43‌

0

.88‌

27‌

10

.09‌

468,736‌

0

.46‌

0

.45‌

1

.25‌

26‌

14

.51‌

462,601‌

0

.45‌

0

.45‌

1

.54‌

21‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

174

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

2.9

SOCIAL

CHOICE

LOW

CARBON

EQUITY

FUND

Institutional

Class:

10/31/23

$

16.76‌

$

0.25‌

$

0.92‌

$

1.17‌

$

(0.21‌)

$

(0.10‌)

$

(0.31‌)

$

17.62‌

10/31/22

21.44‌

0.21‌

(3.71‌)

(3.50‌)

(0.17‌)

(1.01‌)

(1.18‌)

16.76‌

10/31/21

15.16‌

0.19‌

6.47‌

6.66‌

(0.16‌)

(0.22‌)

(0.38‌)

21.44‌

10/31/20

13.93‌

0.19‌

1.43‌

1.62‌

(0.18‌)

(0.21‌)

(0.39‌)

15.16‌

10/31/19

12.77‌

0.22‌

1.64‌

1.86‌

(0.19‌)

(0.51‌)

(0.70‌)

13.93‌

Advisor

Class:

10/31/23

16.73‌

0.23‌

0.92‌

1.15‌

(0.19‌)

(0.10‌)

(0.29‌)

17.59‌

10/31/22

21.41‌

0.18‌

(3.70‌)

(3.52‌)

(0.15‌)

(1.01‌)

(1.16‌)

16.73‌

10/31/21

15.14‌

0.17‌

6.46‌

6.63‌

(0.14‌)

(0.22‌)

(0.36‌)

21.41‌

10/31/20

13.92‌

0.19‌

1.41‌

1.60‌

(0.17‌)

(0.21‌)

(0.38‌)

15.14‌

10/31/19

12.77‌

0.20‌

1.64‌

1.84‌

(0.18‌)

(0.51‌)

(0.69‌)

13.92‌

Premier

Class:

10/31/23

16.77‌

0.22‌

0.92‌

1.14‌

(0.18‌)

(0.10‌)

(0.28‌)

17.63‌

10/31/22

21.46‌

0.18‌

(3.72‌)

(3.54‌)

(0.14‌)

(1.01‌)

(1.15‌)

16.77‌

10/31/21

15.18‌

0.16‌

6.48‌

6.64‌

(0.14‌)

(0.22‌)

(0.36‌)

21.46‌

10/31/20

13.95‌

0.18‌

1.42‌

1.60‌

(0.16‌)

(0.21‌)

(0.37‌)

15.18‌

10/31/19

12.79‌

0.19‌

1.65‌

1.84‌

(0.17‌)

(0.51‌)

(0.68‌)

13.95‌

Retirement

Class:

10/31/23

16.65‌

0.20‌

0.92‌

1.12‌

(0.17‌)

(0.10‌)

(0.27‌)

17.50‌

10/31/22

21.32‌

0.16‌

(3.69‌)

(3.53‌)

(0.13‌)

(1.01‌)

(1.14‌)

16.65‌

10/31/21

15.09‌

0.14‌

6.44‌

6.58‌

(0.13‌)

(0.22‌)

(0.35‌)

21.32‌

10/31/20

13.87‌

0.16‌

1.42‌

1.58‌

(0.15‌)

(0.21‌)

(0.36‌)

15.09‌

10/31/19

12.72‌

0.18‌

1.64‌

1.82‌

(0.16‌)

(0.51‌)

(0.67‌)

13.87‌

Retail

Class:

10/31/23

16.66‌

0.19‌

0.92‌

1.11‌

(0.16‌)

(0.10‌)

(0.26‌)

17.51‌

10/31/22

21.32‌

0.15‌

(3.68‌)

(3.53‌)

(0.12‌)

(1.01‌)

(1.13‌)

16.66‌

10/31/21

15.09‌

0.13‌

6.44‌

6.57‌

(0.12‌)

(0.22‌)

(0.34‌)

21.32‌

10/31/20

13.88‌

0.15‌

1.41‌

1.56‌

(0.14‌)

(0.21‌)

(0.35‌)

15.09‌

10/31/19

12.72‌

0.17‌

1.65‌

1.82‌

(0.15‌)

(0.51‌)

(0.66‌)

13.88‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

See

Notes

to

Financial

Statements

175

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

7.04‌

%

$

454,299‌

0.30‌

%

0.29‌

%

1.39‌

%

26‌

%

(17.30‌)

473,329‌

0.31‌

0.31‌

1.14‌

28‌

44.55‌

452,025‌

0.31‌

0.31‌

1.00‌

26‌

11.88‌

211,659‌

0.35‌

0.32‌

1.36‌

27‌

15.52‌

89,166‌

0.41‌

0.32‌

1.67‌

27‌

6.92‌

4,801‌

0.40‌

0.39‌

1.31‌

26‌

(17.39‌)

8,364‌

0.42‌

0.42‌

1.02‌

28‌

44.44‌

6,920‌

0.43‌

0.43‌

0.87‌

26‌

11.72‌

1,517‌

0.45‌

0.42‌

1.31‌

27‌

15.33‌

1,132‌

0.52‌

0.43‌

1.52‌

27‌

6.88‌

5,380‌

0.45‌

0.44‌

1.25‌

26‌

(17.44‌)

6,136‌

0.46‌

0.46‌

0.98‌

28‌

44.36‌

6,335‌

0.46‌

0.46‌

0.85‌

26‌

11.72‌

3,253‌

0.50‌

0.47‌

1.27‌

27‌

15.33‌

2,171‌

0.56‌

0.47‌

1.50‌

27‌

6.77‌

585,695‌

0.55‌

0.54‌

1.14‌

26‌

(17.52‌)

530,048‌

0.56‌

0.56‌

0.88‌

28‌

44.19‌

530,497‌

0.56‌

0.56‌

0.74‌

26‌

11.65‌

202,084‌

0.60‌

0.57‌

1.14‌

27‌

15.21‌

118,956‌

0.66‌

0.57‌

1.38‌

27‌

6.72‌

58,798‌

0.58‌

0.58‌

1.10‌

26‌

(17.51‌)

53,878‌

0.60‌

0.58‌

0.86‌

28‌

44.09‌

62,509‌

0.62‌

0.62‌

0.68‌

26‌

11.47‌

22,606‌

0.66‌

0.63‌

1.09‌

27‌

15.21‌

15,561‌

0.73‌

0.64‌

1.36‌

27‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

176

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

3.01

EMERGING

MARKETS

EQUITY

FUND

Institutional

Class:

10/31/23

$

6.46‌

$

0.09‌

$

0.75‌

$

0.84‌

$

(0.00‌)

d

$

—‌

$

(0.00‌

)

d

$

7.30‌

10/31/22

11.77‌

0.14‌

(3.23‌)

(3.09‌)

(0.43‌)

(1.79‌)

(2.22‌)

6.46‌

10/31/21

12.53‌

0.08‌

0.37‌

0.45‌

(0.10‌)

(1.11‌)

(1.21‌)

11.77‌

10/31/20

11.54‌

0.07‌

1.10‌

1.17‌

(0.18‌)

—‌

(0.18‌)

12.53‌

10/31/19

10.05‌

0.18‌

1.75‌

1.93‌

(0.05‌)

(0.39‌)

(0.44‌)

11.54‌

Advisor

Class:

10/31/23

6.46‌

0.06‌

0.78‌

0.84‌

(0.00‌)

d

—‌

(0.00‌)

d

7.30‌

10/31/22

11.77‌

0.11‌

(3.21‌)

(3.10‌)

(0.42‌)

(1.79‌)

(2.21‌)

6.46‌

10/31/21

12.52‌

0.07‌

0.37‌

0.44‌

(0.08‌)

(1.11‌)

(1.19‌)

11.77‌

10/31/20

11.54‌

0.04‌

1.11‌

1.15‌

(0.17‌)

—‌

(0.17‌)

12.52‌

10/31/19

10.05‌

0.17‌

1.76‌

1.93‌

(0.05‌)

(0

.39‌)

(0.44‌)

11.54‌

Premier

Class:

10/31/23

6.46‌

0.05‌

0.79‌

0.84‌

(0.00‌)

d

—‌

(0.00‌)

d

7.30‌

10/31/22

11.78‌

0.14‌

(3.25‌)

(3.11‌)

(0.42‌)

(1.79‌)

(2.21‌)

6.46‌

10/31/21

12.53‌

0.07‌

0.38‌

0.45‌

(0.09‌)

(1.11‌)

(1.20‌)

11.78‌

10/31/20

11.55‌

0.05‌

1.09‌

1.14‌

(0.16‌)

—‌

(0.16‌)

12.53‌

10/31/19

10.04‌

0.17‌

1.77‌

1.94‌

(0.04‌)

(0.39‌)

(0.43‌)

11.55‌

Retirement

Class:

10/31/23

6.42‌

0.07‌

0.77‌

0.84‌

(0.00‌)

d

—‌

(0.00‌)

d

7.26‌

10/31/22

11.72‌

0.14‌

(3.23‌)

(3.09‌)

(0.42‌)

(1.79‌)

(2.21‌)

6.42‌

10/31/21

12.48‌

0.07‌

0.37‌

0.44‌

(0.09‌)

(1.11‌)

(1.20‌)

11.72‌

10/31/20

11.49‌

0.05‌

1.10‌

1.15‌

(0

.16‌)

—‌

(0.16‌)

12.48‌

10/31/19

10.00‌

0.17‌

1.74‌

1.91‌

(0.03‌)

(0.39‌)

(0.42‌)

11.49‌

Retail

Class:

10/31/23

6

.44‌

0.06‌

0.76‌

0.82‌

—‌

—‌

—‌

7.26‌

10/31/22

11.72‌

0.11‌

(3.23‌)

(3.12‌)

(0.37‌)

(1.79‌)

(2.16‌)

6.44‌

10/31/21

12.49‌

0.03‌

0.36‌

0.39‌

(0.05‌)

(1.11‌)

(1.16‌)

11.72‌

10/31/20

11.51‌

0.02‌

1.10‌

1.12‌

(0.14‌)

—‌

(0.14‌)

12.49‌

10/31/19

10.00‌

0.14‌

1.76‌

1.90‌

(0.00‌)

d

(0.39‌)

(0.39‌)

11.51‌

Class

W:

10/31/23

6.50‌

0.15‌

0.77‌

0.92‌

(0.06‌)

—‌

(0.06‌)

7.36‌

10/31/22

11.85‌

0.21‌

(3.25‌)

(3.04‌)

(0.52‌)

(1.79‌)

(2.31‌)

6.50‌

10/31/21

12.62‌

0.21‌

0.37‌

0.58‌

(0.24‌)

(1.11‌)

(1.35‌)

11.85‌

10/31/20

11.63‌

0.17‌

1.10‌

1.27‌

(0.28‌)

—‌

(0.28‌)

12.62‌

10/31/19

10.06‌

0.28‌

1.76‌

2.04‌

(0.08‌)

(0.39‌)

(0.47‌)

11.63‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

d

Value

rounded

to

zero.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

g

During

the

year

ended

10/31/23,

0.05%,

0.05%,

0.06%,

0.05%,

0.05%

and

0.05%

of

the

Fund’s

total

return

for

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W,

respectively,

consisted

of

a

voluntary

payment

from

the

Adviser.

See

Notes

to

Financial

Statements

177

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

13.06‌

%

g

$

196,897‌

0.90‌

%

0.90‌

%

1.12‌

%

67‌

%

(31.68‌)

187,605‌

0.90‌

0.90‌

1.66‌

108‌

2.44‌

295,907‌

0.88‌

0.88‌

0.61‌

112‌

10.04‌

283,658‌

0.88‌

0.88‌

0.58‌

128‌

20.10‌

255,775‌

0.90‌

0.90‌

1.66‌

129‌

13.03‌

g

102‌

0.98‌

0.98‌

0.78‌

67‌

(31.77‌)

180‌

0.94‌

0.94‌

1.34‌

108‌

2.28‌

171‌

0.97‌

0.97‌

0.51‌

112‌

10.06‌

179‌

0.95‌

0.95‌

0.31‌

128‌

20.11‌

236‌

0.97‌

0.97‌

1.59‌

129‌

13.02‌

g

4,595‌

1.05‌

1.01‌

0.69‌

67‌

(31.77‌)

7,296‌

1.05‌

0.96‌

1.61‌

108‌

2.27‌

10,994‌

1.03‌

0.98‌

0.54‌

112‌

9.99‌

9,112‌

1.03‌

0.99‌

0.46‌

128‌

19.99‌

7,700‌

1.05‌

1.02‌

1.54‌

129‌

13.10‌

g

61,572‌

1.15‌

1.07‌

0.90‌

67‌

(31.85‌)

62,446‌

1.15‌

0.96‌

1.64‌

108‌

2.36‌

103,033‌

1.12‌

0.98‌

0.49‌

112‌

9.94‌

118,191‌

1.13‌

0.99‌

0.44‌

128‌

19.96‌

137,434‌

1.15‌

1.04‌

1.58‌

129‌

12.73‌

g

6,608‌

1.27‌

1.26‌

0.73‌

67‌

(31.97‌)

6,239‌

1.30‌

1.24‌

1.32‌

108‌

2.00‌

9,842‌

1.31‌

1.31‌

0.19‌

112‌

9.68‌

8,500‌

1.27‌

1.27‌

0.17‌

128‌

19.64‌

9,348‌

1.27‌

1.27‌

1.28‌

129‌

14

.20‌

g

1,267,687‌

0.90‌

0.00‌

1.96‌

67‌

(31.16‌)

1,308,083‌

0.90‌

0.00‌

2.49‌

108‌

3.33‌

1,256,261‌

0.88‌

0.00‌

1.54‌

112‌

11.11‌

1,194,291‌

0.88‌

0.00‌

1.47‌

128‌

21.10‌

1,166,939‌

0.89‌

0.00‌

2.54‌

129‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

178

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

3.1

INTERNATIONAL

EQUITY

FUND

Institutional

Class:

10/31/23

$

10.63‌

$

0.33‌

$

1.24‌

$

1.57‌

$

(0.25‌)

$

—‌

$

(0.25‌)

$

11.95‌

10/31/22

14.61‌

0.28‌

(3.86‌)

(3.58‌)

(0.40‌)

—‌

(0.40‌)

10.63‌

10/31/21

10.91‌

0.41‌

3.45‌

3.86‌

(0.16‌)

—‌

(0.16‌)

14.61‌

10/31/20

11.06‌

0.18‌

(0.14‌)

0.04‌

(0.19‌)

—‌

(0.19‌)

10.91‌

10/31/19

11.24‌

0.20‌

0.35‌

0.55‌

(0.24‌)

(0.49‌)

(0.73‌)

11.06‌

Advisor

Class:

10/31/23

10.87‌

0.32‌

1.28‌

1.60‌

(0.24‌)

—‌

(0.24‌)

12.23‌

10/31/22

14.93‌

0.28‌

(3.96‌)

(3.68‌)

(0.38‌)

—‌

(0.38‌)

10.87‌

10/31/21

11.15‌

0.39‌

3.54‌

3.93‌

(0.15‌)

—‌

(0.15‌)

14.93‌

10/31/20

11.29‌

0.17‌

(0.13‌)

0.04‌

(0.18‌)

—‌

(0.18‌)

11.15‌

10/31/19

11.23‌

0.05‌

0.50‌

0.55‌

—‌

(0.49‌)

(0.49‌

)

11.29‌

Premier

Class:

10/31/23

10.61‌

0.33‌

1.23‌

1.56‌

(0.24‌)

—‌

(0.24‌)

11.93‌

10/31/22

14.58‌

0.26‌

(3.85‌)

(3.59‌)

(0.38‌)

—‌

(0.38‌)

10.61‌

10/31/21

10.89‌

0.37‌

3.45‌

3.82‌

(0.13‌)

—‌

(0.13‌)

14.58‌

10/31/20

11.03‌

0.16‌

(0.13‌)

0.03‌

(0.17‌)

—‌

(0.17‌)

10.89‌

10/31/19

11.21‌

0.18‌

0.35‌

0.53‌

(0.22‌)

(0.49‌)

(0.71‌)

11.03‌

Retirement

Class:

10/31/23

11.06‌

0.32‌

1.29‌

1.61‌

(0.22‌)

—‌

(0.22‌)

12.45‌

10/31/22

15.18‌

0.26‌

(4.02‌)

(3.76‌)

(0.36‌)

—‌

(0.36‌)

11.06‌

10/31/21

11.33‌

0.39‌

3.59‌

3.98‌

(0.13‌)

—‌

(0.13‌)

15.18‌

10/31/20

11.48‌

0.16‌

(0.14‌)

0.02‌

(0.17‌)

—‌

(0.17‌)

11.33‌

10/31/19

11.63‌

0.18‌

0.36‌

0.54‌

(0.20‌)

(0.49‌)

(0.69‌)

11.48‌

Retail

Class:

10/31/23

6.52‌

0.18‌

0.76‌

0.94‌

(0.23‌)

—‌

(0.23‌)

7.23‌

10/31/22

9.11‌

0.15‌

(2.37‌)

(2.22‌)

(0.37‌)

—‌

(0.37‌)

6.52‌

10/31/21

6.86‌

0.23‌

2.15‌

2.38‌

(0.13‌)

—‌

(0.13‌)

9.11‌

10/31/20

7.02‌

0.09‌

(0.08‌)

0.01‌

(0.17‌)

—‌

(0.17‌)

6.86‌

10/31/19

7.42‌

0.10‌

0.20‌

0.30‌

(0.21‌)

(0.49‌)

(0.70‌)

7.02‌

Class

W:

10/31/23

10.70‌

0.39‌

1.24‌

1.63‌

(0.30‌)

—‌

(0.30‌)

12.03‌

10/31/22

14.69‌

0.34‌

(3.87‌)

(3.53‌)

(0.46‌)

—‌

(0.46‌)

10.70‌

10/31/21

10.96‌

0.48‌

3.45‌

3.93‌

(0.20‌)

—‌

(0.20‌)

14.69‌

10/31/20

11.10‌

0.23‌

(0.13‌)

0.10‌

(0.24‌)

—‌

(0.24‌)

10.96‌

10/31/19

11.25‌

0.25‌

0.34‌

0.59‌

(0.25‌)

(0.49‌)

(0.74‌)

11.10‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

f

Does

not

include

in-kind

transactions.

g

During

the

year

ended

10/31/23,

0.02%,

0.02%,

0.02%,

0.02%,

0.02%

and

0.02%

of

the

Fund’s

total

return

for

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W,

respectively,

consisted

of

a

voluntary

payment

from

the

Adviser.

See

Notes

to

Financial

Statements

179

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

14.89‌

%

g

$

2,405,013‌

0.46‌

%

0.46‌

%

2.71‌

%

19‌

%

f

(25.14‌)

2,255,904‌

0.46‌

0.46‌

2.33‌

21‌

35.59‌

2,828,714‌

0.46‌

0.46‌

2.95‌

28‌

0.33‌

2,230,915‌

0.48‌

0.48‌

1.74‌

102‌

5.73‌

2,484,368‌

0.48‌

0.48‌

1.87‌

114‌

14.81‌

g

2,067‌

0

.56‌

0.56‌

2.59‌

19‌

f

(25.23‌)

2,268‌

0.57‌

0.57‌

2.20‌

21‌

35.42‌

3,175‌

0.56‌

0.56‌

2.75‌

28‌

0.34‌

2,993‌

0.57‌

0.57‌

1.60‌

102‌

5.46‌

3,929‌

0.60‌

0.60‌

0.38‌

114‌

14.75‌

g

37,023‌

0.61‌

0.61‌

2.71‌

19‌

f

(25.24‌)

57,289‌

0.61‌

0.61‌

2.14‌

21‌

35.31‌

75,862‌

0.61‌

0.61‌

2.68‌

28‌

0.26‌

80,569‌

0.63‌

0.63‌

1.53‌

102‌

5.52‌

133,306‌

0.63‌

0.63‌

1.76‌

114‌

14.64‌

g

318,194‌

0.71‌

0.71‌

2.48‌

19‌

f

(25.32‌)

314,089‌

0.71‌

0.71‌

2.05‌

21‌

35.28‌

467,995‌

0.71‌

0.71‌

2.68‌

28‌

0.10‌

383,646‌

0.73‌

0.73‌

1.45‌

102‌

5.44‌

459,274‌

0.73‌

0.71‌

1.63‌

114‌

14.60‌

g

215,590‌

0.81‌

0.79‌

2.39‌

19‌

f

(25.32‌)

201,687‌

0.80‌

0.74‌

2.04‌

21‌

35.05‌

286,699‌

0.80‌

0.80‌

2.61‌

28‌

0.03‌

223,406‌

0.82‌

0.82‌

1.38‌

102‌

5.24‌

249,406‌

0.82‌

0.82‌

1.53‌

114‌

15.36‌

g

3,164,262‌

0.46‌

0.00‌

3.15‌

19‌

f

(24.76‌)

3,426,943‌

0.46‌

0.00‌

2.77‌

21‌

36.17‌

3,083,400‌

0.46‌

0.00‌

3.45‌

28‌

0.89‌

1,772,710‌

0.48‌

0.00‌

2.19‌

102‌

6.16‌

1,480,782‌

0.48‌

0.00‌

2.35‌

114‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

180

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

3.2

INTERNATIONAL

OPPORTUNITIES

FUND

Institutional

Class:

10/31/23

$

12.49‌

$

0.18‌

$

0.17‌

$

0.35‌

$

(0.01‌)

$

—‌

$

(0

.01‌)

$

12.83‌

10/31/22

19.77‌

0.17‌

(5.88‌)

(5.71‌)

(0.33‌)

(1.24‌)

(1.57‌)

12.49‌

10/31/21

15.70‌

0.13‌

4.40‌

4.53‌

(0.09‌)

(0.37‌)

(0.46‌)

19.77‌

10/31/20

13.35‌

0.07‌

2.42‌

2.49‌

(0.14‌)

—‌

(0.14‌)

15.70‌

10/31/19

11.99‌

0.16‌

1.35‌

1.51‌

(0.15‌)

—‌

(0.15‌)

13.35‌

Advisor

Class:

10/31/23

12.48‌

0.18‌

0.14‌

0.32‌

(0.00‌)

d

—‌

(0.00‌)

d

12.80‌

10/31/22

19.73‌

0.16‌

(5.87‌)

(5.71‌)

(0.30‌)

(1.24‌)

(1.54‌)

12.48‌

10/31/21

15.67‌

0.11‌

4.40‌

4.51‌

(0.08‌)

(0.37‌)

(0.45‌)

19.73‌

10/31/20

13.34‌

0.06‌

2.41‌

2.47‌

(0.14‌)

—‌

(0.14‌)

15.67‌

10/31/19

11.97‌

0.11‌

1.40‌

1.51‌

(0.14‌

)

—‌

(0.14‌)

13.34‌

Premier

Class:

10/31/23

12.52‌

0.16‌

0.17‌

0.33‌

(0.01‌)

—‌

(0.01‌)

12.84‌

10/31/22

19.80‌

0.20‌

(5.94‌)

(5.74‌)

(0.30‌)

(1.24‌)

(1.54‌)

12.52‌

10/31/21

15.72‌

0.11‌

4.41‌

4.52‌

(0.07‌)

(0.37‌)

(0.44‌)

19.80‌

10/31/20

13.37‌

0.04‌

2.44‌

2.48‌

(0.13‌)

—‌

(0.13‌)

15.72‌

10/31/19

12.00‌

0.15‌

1.35‌

1.50‌

(0.13‌)

—‌

(0.13‌)

13.37‌

Retirement

Class:

10/31/23

12.45‌

0.16‌

0.16‌

0.32‌

(0.01‌)

—‌

(0.01‌)

12.76‌

10/31/22

19.69‌

0.16‌

(5.86‌)

(5.70‌)

(0.30‌)

(1.24‌)

(1.54‌)

12

.45‌

10/31/21

15.63‌

0.10‌

4.40‌

4.50‌

(0.07‌)

(0.37‌)

(0.44‌)

19.69‌

10/31/20

13.30‌

0.06‌

2.40‌

2.46‌

(0.13‌)

—‌

(0.13‌)

15.63‌

10/31/19

11.93‌

0.15‌

1.35‌

1.50‌

(0.13‌)

—‌

(0.13‌)

13.30‌

Retail

Class:

10/31/23

12.48‌

0.15‌

0.15‌

0.30‌

(0.00‌)

d

—‌

(0.00‌)

d

12.78‌

10/31/22

19.67‌

0.13‌

(5.87‌)

(5.74‌)

(0.21‌)

(1.24‌)

(1.45‌)

12.48‌

10/31/21

15.65‌

0.05‌

4.38‌

4.43‌

(0.04‌)

(0.37‌)

(0.41‌)

19.67‌

10/31/20

13.32‌

0.01‌

2.41‌

2.42‌

(0.09‌)

—‌

(0.09‌)

15.65‌

10/31/19

11.94‌

0.12‌

1.36‌

1.48‌

(0.10‌)

—‌

(0.10‌)

13.32‌

Class

W:

10/31/23

12.51‌

0.27‌

0.15‌

0.42‌

(0.02‌)

—‌

(0.02‌)

12.91‌

10/31/22

19.89‌

0.26‌

(5.90‌)

(5.64‌)

(0.50‌)

(1.24‌)

(1.74‌)

12.51‌

10/31/21

15.78‌

0.25‌

4.42‌

4.67‌

(0.19‌)

(0

.37‌)

(0.56‌)

19.89‌

10/31/20

13.42‌

0.16‌

2.43‌

2.59‌

(0.23‌)

—‌

(0.23‌)

15.78‌

10/31/19

11.99‌

0.24‌

1.36‌

1.60‌

(0.17‌)

—‌

(0.17‌)

13.42‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

d

Value

rounded

to

zero.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

Financial

Statements,

when

applicable.

g

During

the

year

ended

10/31/23,

0.01%,

0.01%,

0.01%,

0.01%,

0.01%

and

0.01%

of

the

Fund’s

total

return

for

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W,

respectively,

consisted

of

a

voluntary

payment

from

the

Adviser.

See

Notes

to

Financial

Statements

181

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

e

Portfolio

Turnover

Rate

2.69‌

%

g

$

128,293‌

0.60‌

%

0.60‌

%

1.32‌

%

18‌

%

(30.76‌)

130,897‌

0.61‌

0.61‌

1.16‌

15‌

29.21‌

146,168‌

0.60‌

0.60‌

0.70‌

29‌

18.84‌

120,668‌

0.61‌

0.61‌

0.53‌

36‌

12.84‌

117,428‌

0.62‌

0.62‌

1.31‌

28‌

2.60‌

g

31,237‌

0.69‌

0.69‌

1.26‌

18‌

(30.83‌)

61,619‌

0.71‌

0.71‌

1.21‌

15‌

29.09‌

5,052‌

0.70‌

0.70‌

0.59‌

29‌

18.66‌

4,060‌

0.71‌

0.71‌

0.41‌

36‌

12.85‌

4,168‌

0.71‌

0.71‌

0.85‌

28‌

2.60‌

g

2,455‌

0.76‌

0.75‌

1.18‌

18‌

(30.88‌)

2,269‌

0.76‌

0.66‌

1.43‌

15‌

29.06‌

569‌

0.77‌

0.73‌

0.58‌

29‌

18.69‌

399‌

0.77‌

0.70‌

0.32‌

36‌

12.74‌

1,308‌

0.77‌

0.73‌

1

.21‌

28‌

2.53‌

g

80,691‌

0.85‌

0.79‌

1.14‌

18‌

(30.87‌)

96,691‌

0.86‌

0.68‌

1.06‌

15‌

29.13‌

175,169‌

0.85‌

0.73‌

0.56‌

29‌

18.62‌

158,190‌

0.86‌

0.72‌

0.40‌

36‌

12.77‌

175,643‌

0.87‌

0.77‌

1.19‌

28‌

2.41‌

g

34,349‌

0.90‌

0.90‌

1.05‌

18‌

(31.02‌)

36,527‌

0.99‌

0.96‌

0.89‌

15‌

28.62‌

9,152‌

1.06‌

1.06‌

0.26‌

29‌

18.26‌

5,638‌

1.01‌

1.01‌

0.10‌

36‌

12.50‌

4,122‌

1.02‌

1.02‌

0.92‌

28‌

3.36‌

g

1,912,615‌

0.60‌

0.00‌

1.92‌

18‌

(30.39‌)

2,057,533‌

0.61‌

0.00‌

1.77‌

15‌

30.03‌

2,183,791‌

0.60‌

0.00‌

1.31‌

29‌

19.52‌

1,527,006‌

0.61‌

0.00‌

1.14‌

36‌

13.62‌

1,487,781‌

0.62‌

0.00‌

1.94‌

28‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

182

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

3.3

QUANT

INTERNATIONAL

SMALL-CAP

EQUITY

FUND

Institutional

Class:

10/31/23

$

8

.62‌

$

0

.25‌

$

0

.53‌

$

0

.78‌

$

(

0

.31‌

)

$

—‌

$

(

0

.31‌

)

$

9

.09‌

10/31/22

12

.48‌

0

.33‌

(

3

.45‌

)

(

3

.12‌

)

(

0

.37‌

)

(

0

.37‌

)

(

0

.74‌

)

8

.62‌

10/31/21

9

.41‌

0

.20‌

3

.09‌

3

.29‌

(

0

.22‌

)

—‌

(

0

.22‌

)

12

.48‌

10/31/20

10

.30‌

0

.19‌

(

0

.73‌

)

(

0

.54‌

)

(

0

.35‌

)

—‌

(

0

.35‌

)

9

.41‌

10/31/19

10

.22‌

0

.26‌

0

.40‌

0

.66‌

(

0

.29‌

)

(

0

.29‌

)

(

0

.58‌

)

10

.30‌

Advisor

Class:

10/31/23

8

.61‌

0

.25‌

0

.53‌

0

.78‌

(

0

.31‌

)

—‌

(

0

.31‌

)

9

.08‌

10/31/22

12

.46‌

0

.33‌

(

3

.45‌

)

(

3

.12‌

)

(

0

.36‌

)

(

0

.37‌

)

(

0

.73‌

)

8

.61‌

10/31/21

9

.40‌

0

.20‌

3

.08‌

3

.28‌

(

0

.22‌

)

—‌

(

0

.22‌

)

12

.46‌

10/31/20

10

.29‌

0

.19‌

(

0

.73‌

)

(

0

.54‌

)

(

0

.35‌

)

—‌

(

0

.35‌

)

9

.40‌

10/31/19

10

.22‌

0

.26‌

0

.39‌

0

.65‌

(

0

.29‌

)

(

0

.29‌

)

(

0

.58‌

)

10

.29‌

Premier

Class:

10/31/23

8

.73‌

0

.24‌

0

.54‌

0

.78‌

(

0

.30‌

)

—‌

(

0

.30‌

)

9

.21‌

10/31/22

12

.62‌

0

.31‌

(

3

.49‌

)

(

3

.18‌

)

(

0

.34‌

)

(

0

.37‌

)

(

0

.71‌

)

8

.73‌

10/31/21

9

.52‌

0

.19‌

3

.11‌

3

.30‌

(

0

.20‌

)

—‌

(

0

.20‌

)

12

.62‌

10/31/20

10

.42‌

0

.17‌

(

0

.74‌

)

(

0

.57‌

)

(

0

.33‌

)

—‌

(

0

.33‌

)

9

.52‌

10/31/19

10

.23‌

0

.25‌

0

.41‌

0

.66‌

(

0

.18‌

)

(

0

.29‌

)

(

0

.47‌

)

10

.42‌

Retirement

Class:

10/31/23

8

.60‌

0

.23‌

0

.53‌

0

.76‌

(

0

.29‌

)

—‌

(

0

.29‌

)

9

.07‌

10/31/22

12

.45‌

0

.29‌

(

3

.43‌

)

(

3

.14‌

)

(

0

.34‌

)

(

0

.37‌

)

(

0

.71‌

)

8

.60‌

10/31/21

9

.40‌

0

.18‌

3

.07‌

3

.25‌

(

0

.20‌

)

—‌

(

0

.20‌

)

12

.45‌

10/31/20

10

.29‌

0

.18‌

(

0

.73‌

)

(

0

.55‌

)

(

0

.34‌

)

—‌

(

0

.34‌

)

9

.40‌

10/31/19

10

.19‌

0

.25‌

0

.39‌

0

.64‌

(

0

.25‌

)

(

0

.29‌

)

(

0

.54‌

)

10

.29‌

Retail

Class:

10/31/23

8

.62‌

0

.22‌

0

.52‌

0

.74‌

(

0

.27‌

)

—‌

(

0

.27‌

)

9

.09‌

10/31/22

12

.47‌

0

.29‌

(

3

.45‌

)

(

3

.16‌

)

(

0

.32‌

)

(

0

.37‌

)

(

0

.69‌

)

8

.62‌

10/31/21

9

.41‌

0

.16‌

3

.08‌

3

.24‌

(

0

.18‌

)

—‌

(

0

.18‌

)

12

.47‌

10/31/20

10

.30‌

0

.15‌

(

0

.73‌

)

(

0

.58‌

)

(

0

.31‌

)

—‌

(

0

.31‌

)

9

.41‌

10/31/19

10

.18‌

0

.22‌

0

.40‌

0

.62‌

(

0

.21‌

)

(

0

.29‌

)

(

0

.50‌

)

10

.30‌

Class

W:

10/31/23

8

.69‌

0

.32‌

0

.54‌

0

.86‌

(

0

.39‌

)

—‌

(

0

.39‌

)

9

.16‌

10/31/22

12

.56‌

0

.40‌

(

3

.46‌

)

(

3

.06‌

)

(

0

.44‌

)

(

0

.37‌

)

(

0

.81‌

)

8

.69‌

10/31/21

9

.46‌

0

.29‌

3

.09‌

3

.38‌

(

0

.28‌

)

—‌

(

0

.28‌

)

12

.56‌

10/31/20

10

.35‌

0

.25‌

(

0

.72‌

)

(

0

.47‌

)

(

0

.42‌

)

—‌

(

0

.42‌

)

9

.46‌

10/31/19

10

.22‌

0

.33‌

0

.40‌

0

.73‌

(

0

.31‌

)

(

0

.29‌

)

(

0

.60‌

)

10

.35‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

See

Notes

to

Financial

Statements

183

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

9

.06‌

%

$

62,099‌

0

.74‌

%

0

.74‌

%

2

.63‌

%

114‌

%

(

26

.44‌

)

66,810‌

0

.72‌

0

.72‌

3

.20‌

119‌

35

.40‌

88,124‌

0

.71‌

0

.69‌

1

.73‌

119‌

(

5

.51‌

)

54,223‌

0

.71‌

0

.66‌

2

.06‌

100‌

7

.04‌

55,449‌

0

.71‌

0

.66‌

2

.68‌

87‌

9

.05‌

76‌

0

.77‌

0

.77‌

2

.57‌

114‌

(

26

.47‌

)

63‌

0

.74‌

0

.74‌

3

.18‌

119‌

35

.28‌

91‌

0

.80‌

0

.78‌

1

.66‌

119‌

(

5

.56‌

)

69‌

0

.76‌

0

.71‌

2

.01‌

100‌

6

.96‌

84‌

0

.76‌

0

.71‌

2

.66‌

87‌

8

.85‌

68‌

0

.93‌

0

.91‌

2

.48‌

114‌

(

26

.53‌

)

64‌

0

.90‌

0

.90‌

3

.01‌

119‌

35

.08‌

92‌

0

.96‌

0

.88‌

1

.56‌

119‌

(

5

.71‌

)

70‌

0

.91‌

0

.85‌

1

.85‌

100‌

6

.85‌

76‌

0

.89‌

0

.84‌

2

.53‌

87‌

8

.86‌

7,031‌

0

.99‌

0

.99‌

2

.38‌

114‌

(

26

.62‌

)

8,463‌

0

.97‌

0

.97‌

2

.98‌

119‌

35

.00‌

4,626‌

0

.96‌

0

.93‌

1

.51‌

119‌

(

5

.67‌

)

3,259‌

0

.96‌

0

.84‌

1

.93‌

100‌

6

.86‌

3,113‌

0

.96‌

0

.84‌

2

.54‌

87‌

8

.58‌

853‌

1

.16‌

1

.12‌

2

.26‌

114‌

(

26

.71‌

)

824‌

1

.40‌

1

.14‌

2

.80‌

119‌

34

.77‌

1,134‌

2

.20‌

1

.12‌

1

.31‌

119‌

(

5

.93‌

)

757‌

1

.44‌

1

.09‌

1

.60‌

100‌

6

.61‌

851‌

1

.35‌

1

.09‌

2

.26‌

87‌

9

.91‌

1,001,200‌

0

.74‌

0

.01‌

3

.37‌

114‌

(

25

.88‌

)

1,118,947‌

0

.72‌

0.00‌

3

.90‌

119‌

36

.31‌

1,485,005‌

0

.71‌

0.00‌

2

.42‌

119‌

(

4

.97‌

)

923,105‌

0

.71‌

0.00‌

2

.73‌

100‌

7

.85‌

926,729‌

0

.71‌

0.00‌

3

.38‌

87‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

184

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

3.4

SOCIAL

CHOICE

INTERNATIONAL

EQUITY

FUND

Institutional

Class:

10/31/23

$

10

.25‌

$

0

.35‌

$

1

.27‌

$

1

.62‌

$

(

0

.26‌

)

$

—‌

$

(

0

.26‌

)

$

11

.61‌

10/31/22

13

.82‌

0

.33‌

(

3

.48‌

)

(

3

.15‌

)

(

0

.32‌

)

(

0

.10‌

)

(

0

.42‌

)

10

.25‌

10/31/21

10

.34‌

0

.35‌

3

.31‌

3

.66‌

(

0

.18‌

)

—‌

(

0

.18‌

)

13

.82‌

10/31/20

11

.16‌

0

.23‌

(

0

.87‌

)

(

0

.64‌

)

(

0

.18‌

)

—‌

(

0

.18‌

)

10

.34‌

10/31/19

10

.14‌

0

.31‌

0

.95‌

1

.26‌

(

0

.24‌

)

—‌

(

0

.24‌

)

11

.16‌

Advisor

Class:

10/31/23

10

.24‌

0

.33‌

1

.27‌

1

.60‌

(

0

.25‌

)

—‌

(

0

.25‌

)

11

.59‌

10/31/22

13

.81‌

0

.29‌

(

3

.45‌

)

(

3

.16‌

)

(

0

.31‌

)

(

0

.10‌

)

(

0

.41‌

)

10

.24‌

10/31/21

10

.33‌

0

.35‌

3

.30‌

3

.65‌

(

0

.17‌

)

—‌

(

0

.17‌

)

13

.81‌

10/31/20

11

.16‌

0

.21‌

(

0

.86‌

)

(

0

.65‌

)

(

0

.18‌

)

—‌

(

0

.18‌

)

10

.33‌

10/31/19

10

.14‌

0

.30‌

0

.95‌

1

.25‌

(

0

.23‌

)

—‌

(

0

.23‌

)

11

.16‌

Premier

Class:

10/31/23

10

.25‌

0

.32‌

1

.29‌

1

.61‌

(

0

.24‌

)

—‌

(

0

.24‌

)

11

.62‌

10/31/22

13

.83‌

0

.32‌

(

3

.50‌

)

(

3

.18‌

)

(

0

.30‌

)

(

0

.10‌

)

(

0

.40‌

)

10

.25‌

10/31/21

10

.34‌

0

.34‌

3

.31‌

3

.65‌

(

0

.16‌

)

—‌

(

0

.16‌

)

13

.83‌

10/31/20

11

.17‌

0

.15‌

(

0

.81‌

)

(

0

.66‌

)

(

0

.17‌

)

—‌

(

0

.17‌

)

10

.34‌

10/31/19

10

.13‌

0

.32‌

0

.92‌

1

.24‌

(

0

.20‌

)

—‌

(

0

.20‌

)

11

.17‌

Retirement

Class:

10/31/23

10

.20‌

0

.32‌

1

.26‌

1

.58‌

(

0

.23‌

)

—‌

(

0

.23‌

)

11

.55‌

10/31/22

13

.76‌

0

.30‌

(

3

.47‌

)

(

3

.17‌

)

(

0

.29‌

)

(

0

.10‌

)

(

0

.39‌

)

10

.20‌

10/31/21

10

.30‌

0

.33‌

3

.29‌

3

.62‌

(

0

.16‌

)

—‌

(

0

.16‌

)

13

.76‌

10/31/20

11

.12‌

0

.20‌

(

0

.86‌

)

(

0

.66‌

)

(

0

.16‌

)

—‌

(

0

.16‌

)

10

.30‌

10/31/19

10

.11‌

0

.26‌

0

.96‌

1

.22‌

(

0

.21‌

)

—‌

(

0

.21‌

)

11

.12‌

Retail

Class:

10/31/23

10

.20‌

0

.31‌

1

.28‌

1

.59‌

(

0

.23‌

)

—‌

(

0

.23‌

)

11

.56‌

10/31/22

13

.76‌

0

.30‌

(

3

.48‌

)

(

3

.18‌

)

(

0

.28‌

)

(

0

.10‌

)

(

0

.38‌

)

10

.20‌

10/31/21

10

.30‌

0

.31‌

3

.30‌

3

.61‌

(

0

.15‌

)

—‌

(

0

.15‌

)

13

.76‌

10/31/20

11

.13‌

0

.20‌

(

0

.88‌

)

(

0

.68‌

)

(

0

.15‌

)

—‌

(

0

.15‌

)

10

.30‌

10/31/19

10

.10‌

0

.27‌

0

.96‌

1

.23‌

(

0

.20‌

)

—‌

(

0

.20‌

)

11

.13‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

See

Notes

to

Financial

Statements

185

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

15

.85‌

%

$

715,703‌

0

.34‌

%

0

.34‌

%

2

.90‌

%

30‌

%

(

23

.47‌

)

657,816‌

0

.37‌

0

.37‌

2

.85‌

15‌

35

.70‌

556,304‌

0

.36‌

0

.36‌

2

.68‌

12‌

(

5

.83‌

)

338,692‌

0

.41‌

0

.40‌

2

.21‌

15‌

12

.77‌

192,475‌

0

.58‌

0

.40‌

3

.03‌

9‌

15

.69‌

11,987‌

0

.49‌

0

.49‌

2

.75‌

30‌

(

23

.55‌

)

8,600‌

0

.48‌

0

.48‌

2

.56‌

15‌

35

.60‌

2,557‌

0

.46‌

0

.46‌

2

.66‌

12‌

(

5

.96‌

)

1,192‌

0

.52‌

0

.51‌

1

.99‌

15‌

12

.71‌

1,174‌

0

.66‌

0

.47‌

2

.89‌

9‌

15

.77‌

954‌

0

.50‌

0

.50‌

2

.70‌

30‌

(

23

.64‌

)

618‌

0

.52‌

0

.52‌

2

.65‌

15‌

35

.49‌

771‌

0

.52‌

0

.52‌

2

.58‌

12‌

(

5

.99‌

)

438‌

0

.56‌

0

.55‌

1

.35‌

15‌

12

.55‌

1,754‌

0

.74‌

0

.55‌

3

.05‌

9‌

15

.58‌

629,526‌

0

.59‌

0

.59‌

2

.66‌

30‌

(

23

.66‌

)

457,544‌

0

.62‌

0

.62‌

2

.60‌

15‌

35

.42‌

386,981‌

0

.61‌

0

.61‌

2

.50‌

12‌

(

6

.08‌

)

162,780‌

0

.66‌

0

.65‌

1

.91‌

15‌

12

.40‌

59,932‌

0

.83‌

0

.65‌

2

.56‌

9‌

15

.61‌

28,059‌

0

.63‌

0

.63‌

2

.60‌

30‌

(

23

.72‌

)

21,246‌

0

.66‌

0

.65‌

2

.55‌

15‌

35

.27‌

21,846‌

0

.70‌

0

.70‌

2

.41‌

12‌

(

6

.18‌

)

10,335‌

0

.72‌

0

.72‌

1

.89‌

15‌

12

.47‌

6,456‌

0

.92‌

0

.74‌

2

.62‌

9‌

186

Notes

to

Financial

Statements

1.

Organization

TIAA-CREF

Funds

(the

“Trust”)

is

a

Delaware

statutory

trust

that

is

registered

with

the

U.S. Securities

and

Exchange

Commission

(“SEC”)

under

the

Investment

Company

Act

of

1940,

as

amended

(“1940

Act”),

as

an

open-end

management

investment

company.

The

following

TIAA-CREF

Funds

are

included

in

this

report: Growth

&

Income

Fund,

Large-Cap

Growth

Fund,

Large-Cap

Value

Fund,

Mid-

Cap

Growth

Fund,

Mid-Cap

Value

Fund,

Quant

Small-Cap

Equity

Fund,

Quant

Small/Mid-Cap

Equity

Fund,

Social

Choice

Equity

Fund,

Social

Choice

Low

Carbon

Equity

Fund, Emerging

Markets

Equity

Fund, International

Equity

Fund,

International

Opportunities

Fund,

Quant

International

Small-Cap

Equity

Fund

and

the

Social

Choice

International

Equity

Fund (collectively

the

“Funds”

or

individually,

the

“Fund”).

Teachers

Advisors,

LLC

(the

“Adviser”),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Funds.  

The

Funds

offer

their

shares,

without

a

sales

load,

through

their

principal

underwriter,

Nuveen

Securities,

LLC

(“Nuveen

Securities”),

which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Funds

offer

up

to

six

share

classes,

although

any

one

Fund

may

not

necessarily

offer

all

six

classes.

The

Funds

may

offer

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class, Retail

Class

and

Class

W

shares.

Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Current

Fiscal

Period:

 The

end

of

the

reporting

period

for

the Funds

is

October

31,

2023,

and

the

period

covered

by

these

Notes

to

Financial

Statements

is

the

fiscal

year

ended

October

31,

2023

(the

"current

fiscal

period").

Fund

Reorganization:

At

a

special

meeting

held

on

October

3,

2022,

shareholders

of

the

Nuveen

International

Growth

Fund,

a

series

of

Nuveen

Investment

Trust

II

(the

"Target

Fund"),

approved

the

reorganization

of

the

Target

Fund

into

the

International

Opportunities

Fund

(the

"Acquiring

Fund")

(the

"Reorganization").

The

Reorganization

became

effective

after

the

close

of

business

on

October

28,

2022.

Upon

closing

of

the

Reorganization,

the

Target

Fund

transferred

its

assets

to

the

Acquiring

Fund

in

exchange

for

shares

of

the

Acquiring

Fund

and

the

assumption

by

the

Acquiring

Fund

of

the

liabilities

of

the

Target

Fund.

The

Acquiring

Fund

shares

were

distributed

to

Target

Fund

shareholders

and

the

Target

Fund

was

terminated.

Each

Target

Fund

shareholder

received

Acquiring

Fund

shares

with

a

total

value

equal

to

the

total

value

of

that

shareholder’s

Target

Fund

shares

immediately

prior

to

the

closing

of

the

Reorganization.

2.

Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“U.S.

GAAP”),

which

may

require

the

use

of

estimates

made

by

management

and

the

evaluation

of

subsequent

events.

Actual

results

may

differ

from

those

estimates.

The Funds

are

investment

companies

and

follow

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

. The net

asset

value (“NAV”)

for

financial

reporting

purposes

may

differ

from

the NAV

for

processing

transactions.

The NAV

for

financial

reporting

purposes

includes

security

and shareholder

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the NAV

used

for

processing

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds.

Investments

and

Investment

Income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

Dividend

income

is

recorded

on

the

ex-dividend

date.

Foreign

dividend

income

is

recorded

on

the

ex-dividend

date

or

as

soon

as

possible

after

the Funds

determine

the

existence

of

a

dividend

declaration.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned on

cash

collateral

investments. Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Distributions

received

on

securities

that

represent

a

return

of

capital

or

capital

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The

Funds estimate

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

Operations

and

Allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation

of

a

Fund

are

allocated

on

a

pro

rata

basis

to

each

class

of

shares,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses, which

are

unique

to

each

class

of

shares.

Most

expenses

of

the

Trust

can

be

directly

attributed

to

a

Fund.

Expenses

that

cannot

be

directly

attributed

are

allocated

to

each

Fund

in

the

Trust

based

upon

the

average

net

assets

of

each

Fund.

Distributions

to

Shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

Currency

Transactions

and

Translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

187

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

“Net

realized

gain

(loss)”

on

the

Statement

of

Operations,

when

applicable. 

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

as

a

component

of

“Net

change

in

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative’s

related “Net

change

in

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable. 

Foreign

Taxes:

The Funds

may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the Funds

invest.

Compensation:

The

Funds pay

the

members

of

the

Board

of

Trustees

(“Board”),

all

of

whom

are

independent,

certain

remuneration

for

their

services,

plus

travel

and

other

expenses.

Trustees

may

elect

to

participate

in

a

deferred

compensation

plan

and

defer

all

or

a

portion

of

their

compensation.

In

addition,

trustees

participate

in

a

long-term

compensation

plan.

Amounts

deferred

are

retained

by

the

Funds

until

paid.

Amounts

payable

to

the

trustees

for

compensation

are

included

separately

in the

accompanying

Statement

of

Assets

and

Liabilities.

Trustees’

fees,

including

any

deferred

and

long-term

compensation

incurred,

are

reflected

in

the

Statement

of

Operations.

Indemnification:

 Under

the

Trust's

organizational

documents,

its

officers

and

trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

New

Accounting

Pronouncement:

 In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

(“Topic

820”).

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1)

clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2)

amends

a

related

illustrative

example,

and

(3)

introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820.

For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

During

the

current

fiscal

period,

the Funds adopted

the

new

guidance

and

there

was

no

material

impact

to

the

Funds.

3.

Investment

Valuation

and

Fair

Value

Measurements

The Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Notes

to

Financial

Statements

(continued)

188

Prices

of

fixed-income

securities

are

provided

by

pricing

services

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security’s

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2.

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

For

events

affecting

the

value

of

foreign

securities

between

the

time

when

the

exchange

on

which

they

are

traded

closes

and

the

time

when

the Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1.

When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. 

Investments

in

investment

companies

are

valued

at

their

respective NAVs

or

share

price

on

the

valuation

date

and

are

generally

classified

as Level

1.

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2.

Futures

contracts

are

valued

using

the

closing

settlement

price

or,

in

the

absence

of

such

a

price,

the

last

traded

price and

are

generally

classified

as

Level

1.

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. 

The

following

table

summarizes

the

market

value

of

the Funds’

investments

as

of

the

end

of

the

current

fiscal

period, based

on

the

inputs

used

to

value

them:

Fund

Level

1

Level

2

Level

3

Total

Growth

&

Income

Long-Term

Investments

:

Common

stocks

$5,146,012,731

$—

$—

$5,146,012,731

Short-Term

Investments

:

Government

agency

debt

—

4,953,467

—

4,953,467

Repurchase

agreement

—

18,855,000

—

18,855,000

Total

$5,146,012,731

$23,808,467

$—

$5,169,821,198

1

1

1

1

1

Large-Cap

Growth

Long-Term

Investments

:

Common

stocks

$4,822,782,855

$283,811,682

$—

$5,106,594,537

Short-Term

Investments

:

Treasury

debt

—

12,200,554

—

12,200,554

Total

$4,822,782,855

$296,012,236

$—

$5,118,795,091

1

1

1

1

1

Large-Cap

Value

Long-Term

Investments

:

Common

stocks

$4,464,497,075

$—

$7,267

$4,464,504,342

Short-Term

Investments

:

Government

agency

debt

—

13,700,971

—

13,700,971

Repurchase

agreement

—

5,925,000

—

5,925,000

Treasury

debt

—

11,186,025

—

11,186,025

Total

$4,464,497,075

$30,811,996

$7,267

$4,495,316,338

1

1

1

1

1

189

Fund

Level

1

Level

2

Level

3

Total

Mid-Cap

Growth

Long-Term

Investments

:

Common

stocks

$838,797,909

$50,478,958

$1,537

$889,278,404

Rights/Warrants

704,961

—

—

704,961

Short-Term

Investments

:

Repurchase

agreement

—

1,750,000

—

1,750,000

Investments

purchased

with

collateral

from

securities

lending

30,620,825

—

—

30,620,825

Total

$870,123,695

$52,228,958

$1,537

$922,354,190

1

1

1

1

1

Mid-Cap

Value

Long-Term

Investments

:

Common

stocks

$1,503,941,350

$—

$—

$1,503,941,350

Short-Term

Investments

:

Government

agency

debt

—

4,953,467

—

4,953,467

Repurchase

agreement

—

3,085,000

—

3,085,000

Investments

purchased

with

collateral

from

securities

lending

3,103,340

—

—

3,103,340

Total

$1,507,044,690

$8,038,467

$—

$1,515,083,157

1

1

1

1

1

Quant

Small-Cap

Equity

Long-Term

Investments

:

Common

stocks

$2,371,078,810

$—

$—

$2,371,078,810

Short-Term

Investments

:

Government

agency

debt

—

9,924,146

—

9,924,146

Repurchase

agreement

—

16,087,000

—

16,087,000

Treasury

debt

—

13,482,894

—

13,482,894

Investments

purchased

with

collateral

from

securities

lending

17,561,048

—

—

17,561,048

Investments

in

Derivatives

:

Futures

contracts*

(1,870,153)

—

—

(1,870,153)

Total

$2,386,769,705

$39,494,040

$—

$2,426,263,745

1

1

1

1

1

Quant

Small/Mid-Cap

Equity

Long-Term

Investments

:

Common

stocks

$1,002,402,029

$—

$418

$1,002,402,447

Short-Term

Investments

:

Repurchase

agreement

—

1,066,000

—

1,066,000

Investments

purchased

with

collateral

from

securities

lending

3,418,953

—

—

3,418,953

Total

$1,005,820,982

$1,066,000

$418

$1,006,887,400

1

1

1

1

1

Social

Choice

Equity

Long-Term

Investments

:

Common

stocks

$5,417,549,240

$—

$—

$5,417,549,240

Short-Term

Investments

:

Government

agency

debt

—

4,999,286

—

4,999,286

Repurchase

agreement

—

3,409,000

—

3,409,000

Investments

purchased

with

collateral

from

securities

lending

12,789,902

—

—

12,789,902

Investments

in

Derivatives

:

Futures

contracts*

(149,625)

—

—

(149,625)

Total

$5,430,189,517

$8,408,286

$—

$5,438,597,803

1

1

1

1

1

Social

Choice

Low

Carbon

Equity

Long-Term

Investments

:

Common

stocks

$1,101,705,903

$—

$—

$1,101,705,903

Short-Term

Investments

:

Repurchase

agreement

—

6,663,000

—

6,663,000

Treasury

debt

—

166,853

—

166,853

Investments

purchased

with

collateral

from

securities

lending

677,040

—

—

677,040

Investments

in

Derivatives

:

Futures

contracts*

(183,272)

—

—

(183,272)

Total

$1,102,199,671

$6,829,853

$—

$1,109,029,524

1

1

1

1

1

Emerging

Markets

Equity

Long-Term

Investments

:

Common

stocks

$450,869,045

$947,801,658

$223

$1,398,670,926

Rights/Warrants

13,005

—

—

13,005

Short-Term

Investments

:

Government

agency

debt

—

38,594,368

—

38,594,368

Repurchase

agreement

—

36,446,000

—

36,446,000

Treasury

debt

—

58,870,859

—

58,870,859

Investments

purchased

with

collateral

from

securities

lending

1,094,907

—

—

1,094,907

Total

$451,976,957

$1,081,712,885

$223

$1,533,690,065

1

1

1

1

1

Notes

to

Financial

Statements

(continued)

190

4.

Investments

Repurchase

Agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund’s policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

Securities

Lending:

Certain Funds

may

lend

their

securities

to

qualified

institutional

borrowers

to

earn

additional

income.

A

Fund receives

collateral

(in

the

form

of

cash,

Treasury

securities

or

other

collateral

permitted

by

applicable

law)

against

the

loaned

securities

and

maintains

collateral

in

an

amount

not

less

than

100%

of

the

market

value

of

loaned

securities

during

the

period

of

the

loan;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the Fund

the

next

business

day.

Cash

collateral

received

by the

Fund will

generally

be

invested

in

high-quality

short-term

instruments

or

in

one

or

more

funds

maintained

by

the

securities

lending

agent

(“Agent”)

for

the

purpose

of

investing

cash

collateral.

The

value

of

the

loaned

securities

and

the

liability

to

return

the

cash

collateral

received

are

reflected

in

the

Statement

of

Assets

and

Liabilities.

Non-cash

collateral

is

not

disclosed

in

the

Funds’

Statement

of

Assets

and

Liabilities

as

it

is

held

by

the Agent

or

by

a

third-party

bank

engaged

by

the

Agent

as

a

special

"tri-party" custodian on

behalf

of

the Funds,

and

the

Funds

do

not

have

the

ability

to

sell

or

re-hypothecate

those

securities.

As

of

the

end

of

the

current

fiscal

period,

securities

lending

transactions are

for equity

securities,

and

the

resulting

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

Securities

lending

income

recognized

by

the

Funds consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

reflected

separately

in

the

Statement

of

Operations.

In

lending

its

securities,

a

Fund bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned. 

Fund

Level

1

Level

2

Level

3

Total

International

Equity

Long-Term

Investments

:

Common

stocks

$402,844,803

$5,591,750,491

$—

$5,994,595,294

Short-Term

Investments

:

Government

agency

debt

—

10,279,735

—

10,279,735

Repurchase

agreement

—

58,391,000

—

58,391,000

Treasury

debt

—

25,873,633

—

25,873,633

Total

$402,844,803

$5,686,294,859

$—

$6,089,139,662

1

1

1

1

1

International

Opportunities

Long-Term

Investments

:

Common

stocks

$500,742,795

$1,609,589,290

$1,504

$2,110,333,589

Rights/Warrants

17,927

1,342

—

19,269

Short-Term

Investments

:

Government

agency

debt

—

38,127,215

—

38,127,215

Treasury

debt

—

18,478,494

—

18,478,494

Investments

purchased

with

collateral

from

securities

lending

8,523,294

—

—

8,523,294

Total

$509,284,016

$1,666,196,341

$1,504

$2,175,481,861

1

1

1

1

1

Quant

International

Small-Cap

Equity

Long-Term

Investments

:

Common

stocks

$103,953,789

$963,545,679

$151,738

$1,067,651,206

Investments

purchased

with

collateral

from

securities

lending

1,777,607

—

—

1,777,607

Total

$105,731,396

$963,545,679

$151,738

$1,069,428,813

1

1

1

1

1

Social

Choice

International

Equity

Long-Term

Investments

:

Common

stocks

$14,653,787

$1,347,984,527

$—

$1,362,638,314

Short-Term

Investments

:

Government

agency

debt

—

2,959,578

—

2,959,578

Repurchase

agreement

—

8,361,000

—

8,361,000

Treasury

debt

—

4,995,600

—

4,995,600

Investments

purchased

with

collateral

from

securities

lending

9,341,095

—

—

9,341,095

Investments

in

Derivatives

:

Futures

contracts*

(222,909)

—

—

(222,909)

Total

$23,771,973

$1,364,300,705

$—

$1,388,072,678

1

1

1

1

1

*

Represents

net

unrealized

appreciation

(depreciation).

191

As

of

the

end

of

the

current

fiscal

period,

the

total

value

of

securities

on

loan

and

the

total

value

of

collateral

received

were

as

follows:

Purchases

and

Sales:

 Long-term

purchases

and

sales

(excluding

in-kind

transactions)

during

the

current

fiscal

period were

as

follows:

The Funds

may

purchase

securities

on

a

when-issued

or

delayed-delivery

basis.

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

If

the

Funds have

when-issued/delayed-delivery

purchases

commitments

as

of

the

end

of

the

reporting

period,

such

amounts

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

5.

Derivative

Investments

Each Fund is

authorized

to

invest

in

certain

derivative

instruments.

As

defined

by

U.S.

GAAP,

a

derivative is

a

financial

instrument

whose

value

is

derived

from

an

underlying

security

price,

foreign

exchange

rate,

interest

rate,

index

of

prices

or

rates,

or

other

variables.

Investments

in

derivatives

as

of

the

end

of

and/or

during

the

current

fiscal

period,

if

any,

are

included

within

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations,

respectively.

Futures

Contracts:

 Certain

Funds

are

subject

to

equity

price

and

interest

rate

risk

in

the

normal

course

of

pursuing

their

investment

objectives.

The Funds

use

futures

contracts

to

manage

exposure

to

the

equity

and

bond

markets and

for

cash

management

purposes

to

remain

highly

invested

in

these

markets

while

minimizing

transaction

costs.

A

futures

contract

is

an

agreement

between

two

parties

to

buy

and

sell

a

financial

instrument

for

a

set

price

on

a

future

date.

Upon

execution

of

a

futures

contract,

the

Fund

is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

“initial

margin,”

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

Investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statement

of

Assets

and

Liabilities.

During

the

period

the

futures

contract

is

open,

changes

in

the

market

value

of

the

contract

are

recognized

as

an

unrealized

gain

or

loss

by

“marking-to-market”

on

a

daily

basis.

The

Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

contracts.

These

daily

cash

settlements

are

known

as

“variation

margin”

which are

recognized

on

the

Statement

of

Assets

and

Liabilities

as

a

receivable

or

payable

for

variation

margin

on

futures

contracts.

When

the

contract

is

closed

or

expired,

the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

contract

on

the

closing

date

and

value

of

the

contract

when

originally

entered

into.

The

net

realized

gain

or

loss

and

the

change

in

unrealized

appreciation

(depreciation)

on

futures

contracts

held

during

the

period

is

included

on

the

Statement

of

Operations.

Aggregate

Value

of

Securities

on

Loan

Fund

Equity

Securities

Cash

Collateral

Received*

Non-Cash

Collateral

Received

Total

Collateral

Received

Mid-Cap

Growth

$30,314,395

$30,620,825

$241,065

$30,861,890

Mid-Cap

Value

3,010,166

3,103,340

–

3,103,340

Quant

Small-Cap

Equity

22,842,486

17,561,048

5,758,691

23,319,739

Quant

Small/Mid-Cap

Equity

7,499,636

3,418,953

4,114,960

7,533,913

Social

Choice

Equity

13,259,679

12,789,902

788,765

13,578,667

Social

Choice

Low

Carbon

Equity

1,073,350

677,040

411,195

1,088,235

Emerging

Markets

Equity

11,859,955

1,094,907

12,119,221

13,214,128

International

Opportunities

39,192,664

8,523,294

32,589,202

41,112,496

Quant

International

Small-Cap

Equity

19,946,882

1,777,607

19,360,244

21,137,851

Social

Choice

International

Equity

11,458,347

9,341,095

3,000,114

12,341,209

*May

include

cash

and

investment

of

cash

collateral.

Fund

Non-U.S.

Government

Purchases

Non-U.S.

Government

Sales

2.1

Growth

&

Income

$

5,680,649,542

$

6,338,530,674

2.2

Large-Cap

Growth

2,189,100,405

2,782,249,284

2.3

Large-Cap

Value

1,077,130,093

1,619,018,488

2.4

Mid-Cap

Growth

396,485,025

595,433,226

2.5

Mid-Cap

Value

1,311,564,243

1,479,597,192

2.6

Quant

Small-Cap

Equity

1,966,058,335

2,134,434,089

2.7

Quant

Small/Mid-Cap

Equity

969,768,248

1,182,528,549

2.8

Social

Choice

Equity

905,683,644

1,816,557,911

2.9

Social

Choice

Low

Carbon

Equity

297,588,510

317,055,636

3.01

Emerging

Markets

Equity

1,026,787,032

1,196,308,573

3.1

International

Equity

1,193,791,314

1,671,684,052

3.2

International

Opportunities

417,201,455

594,336,703

3.3

Quant

International

Small-Cap

Equity

1,324,196,075

1,534,158,028

3.4

Social

Choice

International

Equity

511,269,740

418,966,238

Notes

to

Financial

Statements

(continued)

192

Risks

of

investments

in

futures

contracts

include

the

possible

adverse

movement

in

the

price

of

the

securities

or

indices

underlying

the

contracts,

the

possibility

that

there

may

not

be

a

liquid

secondary

market

for

the

contracts

and/or

that

a

change

in

the

value

of the

contract

may

not

correlate

with

a

change

in

the

value

of

the

underlying

securities

or

indices.

The

average

notional

amount

of

futures

contracts

outstanding

during

the

current

fiscal

period

was

as

follows:

Options:

 Certain Funds

are

subject

to

equity

price

risk

in

the

normal

course

of

pursuing their

investment

objectives. To

manage

the

risk,

the Funds

may

invest

in

both

equity

and

index

options.

The Funds

may

purchase

(buy)

or

write

(sell)

put

and

call

options

on

specific

securities

(including

groups

or

“baskets”

of

specific

securities),

interest

rates,

stock

indices

and/or

bond

indices

(each

a

“financial

instrument”).

Options

can

be

settled

either

directly

with

the

counterparty

(over

the

counter)

or

through

a

central

clearing

house

(exchange

traded).

Call

and

put

options

give

the

holder

the

right,

in

return

for

a

premium

paid,

to

purchase

or

sell,

respectively,

a

financial

instrument

at

a

specified

exercise

price

at

any

time

during

the

period

of

the

option.

Purchased

options

are

included

in

the Portfolio

of

investments.

When a

Fund

writes

an

option,

an

amount

equal

to

the

net

premium

received

(the

premium

less

commission)

is

recognized

as

a

liability

on

the

Statement

of

Assets

and

Liabilities

and

is

subsequently

adjusted

to

reflect

the

current

value

of

the

written

option

until

the

option

is

exercised

or

expires

or

the

Fund

enters

into

a

closing

purchase

transaction.

The

changes

in

the

value

of

options

purchased

and/or

written

during

the

fiscal

period

are

recognized

as

in

unrealized

appreciation

(depreciation)

on

the

Statement

of

Operations.

When

an

option

expires,

the

premiums

received

or

paid

are

recognized

as

realized

gains

or

losses

on

the

Statement

of

Operations.

When

an

option

is

exercised

or

a

closing

purchase

transaction

is

entered

into,

the

difference

between

the

premium

and

the

amount

received

or

paid

in

a

closing

transaction

is

recognized

as

a

realized

gain

or

loss

on

the

Statement

of

Operations.

The

market

risk

associated

with

purchasing

options

is

limited

to

the

premium

paid.

The

Fund,

as

writer

of

an

option,

has

no

control

over

whether

the

underlying

instrument

may

be

sold

(called)

or

purchased

(put)

and

as

a

result

bears

the

risk

of

an

unfavorable

change

in

the

market

value

of

the

instrument

underlying

the

written

option.

There

is

also

the

risk

the

Fund may

not

be

able

to

enter

into

a

closing

transaction

because

of

an

illiquid

market.

The

average

notional

amount

of

options

contracts

purchased

and

options

contracts

written outstanding

during

the

current

fiscal

period

was

as

follows:

Fund

Average

Notional

Amount

of

Futures

Contracts

Outstanding*

2.6

Quant

Small-Cap

Equity

$

24,454,005

2.8

Social

Choice

Equity

21,253,615

2.9

Social

Choice

Low

Carbon

Equity

7,803,561

3.4

Social

Choice

International

Equity

14,089,866

*

The

average

notional

amount

is

calculated

based

on

the

absolute

aggregate

notional

amount

of

contracts

outstanding

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Fund

Average

Notional

Amount

of

Options

Contracts

Purchased

Outstanding*

2.1

Growth

&

Income

$

16,268

Fund

Average

Notional

Amount

of

Options

Contracts

Written

Outstanding*

2.1

Growth

&

Income

$

(5,125,644)

*

The

average

notional

amount

is

calculated

based

on

the

outstanding

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

193

At

the

end

of

the

reporting

period,

the

following Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statement

of

Assets

and

Liabilities

as

follows:

During

the

current

fiscal

period,

the

effect

of

derivative

contracts

on

the Funds'

Statement

of

Operations

was

as

follows:

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

Quant

Small-Cap

Equity

Fund

Futures

contracts

Equity

-

$

–

Unrealized

depreciation

on

futures

contracts

*

$

(1,870,153)

1

1

1

1

1

1

1

1

Social

Choice

Equity

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

*

(149,625)

1

1

1

1

1

1

1

1

Social

Choice

Low

Carbon

Equity

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

*

(183,272)

1

1

1

1

1

1

1

1

Social

Choice

International

Equity

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

*

(222,909)

1

1

1

1

1

1

1

1

*

Value

represents

the

cumulative

unrealized

appreciation

(depreciation)

of

cleared

derivative

contracts

as

reported

in

the

Fund's

Portfolio

of

Investments.

The

Statement

of

Assets

and

Liabilities

only

reflects

the

current

day

variation

margin

receivable/payable

from/to

brokers

on

open

cleared

derivative

contracts.

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

2.1

Growth

&

Income

Fund

Written

option

contracts

Equity

$

1,402,499

$

(2,869,338)

2.6

Quant

Small-Cap

Equity

Fund

Futures

contracts

Equity

(102,447)

(3,288,696)

2.8

Social

Choice

Equity

Fund

Futures

contracts

Equity

2,475,704

(1,004,885)

2.9

Social

Choice

Low

Carbon

Equity

Fund

Futures

contracts

Equity

1,800,879

(482,002)

3.4

Social

Choice

International

Equity

Fund

Futures

contracts

Equity

2,558,436

(414,957)

Notes

to

Financial

Statements

(continued)

194

6.

Fund

Shares

Transactions

in

Fund

shares

during

the

current

and

prior

fiscal

period

were

as

follows:

Year

Ended

10/31/23

Year

Ended

10/31/22

2.1

Growth

&

Income

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

5,836,911

$

77,375,803

8,490,053

$

130,746,149

Advisor

Class

66,271

957,193

89,305

1,421,455

Premier

Class

58,861

836,429

42,495

662,024

Retirement

Class

847,898

12,399,595

641,804

10,344,439

Retail

Class

1,066,600

23,020,356

1,492,125

35,037,623

Class

W

15,152,326

198,864,254

20,899,113

299,996,084

Total

subscriptions

23,028,867

313,453,630

31,654,895

478,207,774

Reinvestments

of

distributions:

Institutional

Class

8,789,472

111,691,143

17,832,373

301,560,693

Advisor

Class

17,917

228,420

33,263

562,755

Premier

Class

55,653

708,617

201,823

3,432,406

Retirement

Class

2,490,097

32,528,002

5,413,062

94,124,567

Retail

Class

3,397,446

66,947,456

7,365,804

188,296,167

Class

W

10,835,970

136,316,498

25,074,381

427,267,439

Total

reinvestments

of

distributions

25,586,555

348,420,136

55,920,706

1,015,244,027

Redemptions:

Institutional

Class

(19,765,671)

(274,245,055)

(25,410,724)

(394,600,558)

Advisor

Class

(48,755)

(649,153)

(69,019)

(1,059,066)

Premier

Class

(343,208)

(4,951,560)

(658,497)

(10,251,892)

Retirement

Class

(4,306,009)

(61,272,015)

(5,070,876)

(81,527,001)

Retail

Class

(4,842,094)

(103,341,168)

(4,092,978)

(93,969,596)

Class

W

(37,040,728)

(524,259,086)

(31,518,130)

(496,827,353)

Total

redemptions

(66,346,465)

(968,718,037)

(66,820,224)

(1,078,235,466)

Net

increase

(decrease)

from

shareholder

transactions

(17,731,043)

$

(306,844,271)

20,755,377

$

415,216,335

Year

Ended

10/31/23

Year

Ended

10/31/22

2.2

Large-Cap

Growth

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

8,596,849

$

160,967,158

14,981,051

$

302,444,472

Advisor

Class

15,889

314,591

96,786

2,211,313

Premier

Class

95,171

1,762,839

173,974

3,407,594

Retirement

Class

2,095,862

41,264,346

895,853

18,053,754

Retail

Class

1,593,786

30,962,118

1,916,865

39,782,138

Class

W

13,425,170

252,888,169

24,427,453

466,466,389

Total

subscriptions

25,822,727

488,159,221

42,491,982

832,365,660

Reinvestments

of

distributions:

Institutional

Class

278,362

4,623,586

7,531,805

180,688,008

Advisor

Class

686

11,383

20,569

493,249

Premier

Class

1,637

27,185

61,012

1,463,685

Retirement

Class

18,357

301,793

1,822,257

43,242,143

Retail

Class

88,510

1,463,076

5,499,306

131,323,453

Class

W

1,065,651

17,679,144

12,901,904

309,387,666

Total

reinvestments

of

distributions

1,453,203

24,106,167

27,836,853

666,598,204

Redemptions:

Institutional

Class

(19,438,620)

(356,433,008)

(20,654,785)

(416,502,427)

Advisor

Class

(62,318)

(1,070,074)

(95,716)

(1,893,804)

Premier

Class

(412,955)

(8,020,575)

(145,540)

(2,956,166)

Retirement

Class

(2,255,408)

(41,859,700)

(3,982,522)

(81,059,809)

Retail

Class

(4,430,891)

(83,221,061)

(5,590,529)

(109,376,418)

Class

W

(31,710,984)

(598,070,577)

(23,020,176)

(455,263,080)

Total

redemptions

(58,311,176)

(1,088,674,995)

(53,489,268)

(1,067,051,704)

Net

increase

(decrease)

from

shareholder

transactions

(31,035,246)

$

(576,409,607)

16,839,567

$

431,912,160

195

Year

Ended

10/31/23

Year

Ended

10/31/22

2.3

Large-Cap

Value

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

11,310,657

$

223,723,159

13,008,661

$

265,829,866

Advisor

Class

6,025

118,229

6,178

119,195

Premier

Class

493,688

9,789,623

563,356

11,551,573

Retirement

Class

3,140,859

60,966,521

3,255,980

65,280,711

Retail

Class

214,585

4,019,654

584,468

11,557,732

Class

W

10,714,577

210,500,816

15,818,173

309,346,128

Total

subscriptions

25,880,391

509,118,002

33,236,816

663,685,205

Reinvestments

of

distributions:

Institutional

Class

5,413,517

103,452,307

7,412,476

158,256,372

Advisor

Class

1,143

21,826

1,501

32,012

Premier

Class

205,487

3,922,746

311,289

6,636,672

Retirement

Class

1,421,753

27,084,386

2,029,223

43,181,838

Retail

Class

459,125

8,291,792

652,460

13,205,794

Class

W

7,272,528

138,905,276

11,554,815

246,579,754

Total

reinvestments

of

distributions

14,773,553

281,678,333

21,961,764

467,892,442

Redemptions:

Institutional

Class

(13,839,934)

(271,551,079)

(9,941,840)

(206,536,421)

Advisor

Class

(1,799)

(35,024)

(4,880)

(93,069)

Premier

Class

(2,572,170)

(51,041,537)

(810,031)

(16,550,354)

Retirement

Class

(3,532,950)

(69,689,694)

(3,210,189)

(65,540,839)

Retail

Class

(860,073)

(16,015,204)

(562,701)

(10,815,715)

Class

W

(34,469,435)

(688,281,406)

(29,324,906)

(608,893,695)

Total

redemptions

(55,276,361)

(1,096,613,944)

(43,854,547)

(908,430,093)

Net

increase

(decrease)

from

shareholder

transactions

(14,622,417)

$

(305,817,609)

11,344,033

$

223,147,554

Year

Ended

10/31/23

Year

Ended

10/31/22

2.4

Mid-Cap

Growth

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

761,900

$

13,662,934

1,247,820

$

28,664,645

Advisor

Class

8,523

151,391

17,362

416,895

Premier

Class

128,677

2,254,873

209,301

4,632,804

Retirement

Class

435,812

7,451,690

1,283,953

28,803,740

Retail

Class

257,150

4,314,503

441,189

8,412,668

Total

subscriptions

1,592,062

27,835,391

3,199,625

70,930,752

Reinvestments

of

distributions:

Institutional

Class

200,541

3,369,082

5,508,790

134,634,833

Advisor

Class

48

804

37,350

912,074

Premier

Class

6,871

114,134

311,852

7,531,219

Retirement

Class

57,447

915,705

2,903,192

67,266,962

Retail

Class

38,263

607,615

1,591,397

36,761,274

Total

reinvestments

of

distributions

303,170

5,007,340

10,352,581

247,106,362

Redemptions:

Institutional

Class

(7,499,080)

(131,405,678)

(7,303,974)

(146,023,493)

Advisor

Class

(8,991)

(163,676)

(289,345)

(6,181,152)

Premier

Class

(1,076,549)

(19,275,587)

(760,805)

(15,540,024)

Retirement

Class

(3,242,935)

(54,613,323)

(3,446,493)

(62,640,317)

Retail

Class

(1,178,524)

(19,900,120)

(1,294,532)

(24,714,782)

Total

redemptions

(13,006,079)

(225,358,384)

(13,095,149)

(255,099,768)

Net

increase

(decrease)

from

shareholder

transactions

(11,110,847)

$

(192,515,653)

457,057

$

62,937,346

Notes

to

Financial

Statements

(continued)

196

Year

Ended

10/31/23

Year

Ended

10/31/22

2.5

Mid-Cap

Value

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

2,833,140

$

43,612,111

2,583,227

$

47,301,175

Advisor

Class

635

10,089

16,721

305,463

Premier

Class

315,069

4,927,530

257,898

4,608,802

Retirement

Class

786,057

12,077,784

424,665

7,699,439

Retail

Class

256,077

3,839,590

429,921

7,716,476

Total

subscriptions

4,190,978

64,467,104

3,712,432

67,631,355

Reinvestments

of

distributions:

Institutional

Class

9,382,788

142,899,864

8,990,595

169,742,430

Advisor

Class

3,309

50,331

2,256

42,537

Premier

Class

472,687

7,189,571

518,991

9,782,982

Retirement

Class

4,041,878

60,991,942

4,138,281

77,510,009

Retail

Class

1,794,076

26,032,046

1,652,387

29,908,188

Total

reinvestments

of

distributions

15,694,738

237,163,754

15,302,510

286,986,146

Redemptions:

Institutional

Class

(9,869,995)

(154,870,516)

(9,973,040)

(185,727,442)

Advisor

Class

(3,712)

(56,801)

(11,901)

(218,577)

Premier

Class

(2,116,560)

(32,011,443)

(1,162,654)

(21,121,777)

Retirement

Class

(4,862,849)

(74,525,734)

(5,469,080)

(98,836,684)

Retail

Class

(1,329,563)

(19,488,486)

(1,284,057)

(22,257,535)

Total

redemptions

(18,182,679)

(280,952,980)

(17,900,732)

(328,162,015)

Net

increase

(decrease)

from

shareholder

transactions

1,703,037

$

20,677,878

1,114,210

$

26,455,486

Year

Ended

10/31/23

Year

Ended

10/31/22

2.6

Quant

Small-Cap

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

11,916,915

$

191,173,401

16,126,576

$

276,499,544

Advisor

Class

11,620

196,454

22,496

363,757

Premier

Class

533,640

8,556,994

484,253

8,313,921

Retirement

Class

2,399,475

36,860,416

1,793,463

32,286,648

Retail

Class

560,914

8,539,269

453,653

7,447,328

Class

W

3,035,575

47,729,103

4,998,057

81,506,587

Total

subscriptions

18,458,139

293,055,637

23,878,498

406,417,785

Reinvestments

of

distributions:

Institutional

Class

5,912,184

90,752,021

14,531,570

269,705,941

Advisor

Class

3,412

52,375

6,108

113,370

Premier

Class

230,211

3,508,417

764,693

14,093,294

Retirement

Class

1,442,016

21,284,154

4,513,938

80,709,212

Retail

Class

505,471

7,324,277

1,535,785

26,999,078

Class

W

2,333,044

35,742,230

7,552,097

140,015,877

Total

reinvestments

of

distributions

10,426,338

158,663,474

28,904,191

531,636,772

Redemptions:

Institutional

Class

(12,379,357)

(202,339,757)

(4,335,640)

(80,106,200)

Advisor

Class

(23,124)

(366,050)

(1,966)

(30,180)

Premier

Class

(2,505,266)

(40,170,898)

(1,179,900)

(19,937,097)

Retirement

Class

(3,172,897)

(48,562,528)

(3,446,184)

(57,477,667)

Retail

Class

(894,414)

(13,531,328)

(899,152)

(15,032,455)

Class

W

(11,005,574)

(180,387,591)

(11,393,795)

(206,193,627)

Total

redemptions

(29,980,632)

(485,358,152)

(21,256,637)

(378,777,226)

Net

increase

(decrease)

from

shareholder

transactions

(1,096,155)

$

(33,639,041)

31,526,052

$

559,277,331

197

Year

Ended

10/31/23

Year

Ended

10/31/22

2.7

Quant

Small/Mid-Cap

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

3,506,520

$

42,543,329

2,031,284

$

27,012,964

Advisor

Class

1,503,636

18,799,259

817,462

11,493,848

Premier

Class

–

–

610

8,643

Retirement

Class

7,607,800

94,870,828

14,111,284

191,972,746

Retail

Class

386,180

4,757,185

562,167

8,296,946

Class

W

1,966,233

24,590,891

17,755,879

235,490,837

Total

subscriptions

14,970,369

185,561,492

35,278,686

474,275,984

Reinvestments

of

distributions:

Institutional

Class

399,271

4,767,290

711,077

10,538,161

Advisor

Class

97,241

1,163,005

110,421

1,639,747

Premier

Class

–

–

814

12,150

Retirement

Class

1,629,553

19,326,503

1,243,075

18,322,925

Retail

Class

98,768

1,171,387

215,044

3,167,605

Class

W

5,052,909

60,331,731

10,954,592

162,456,600

Total

reinvestments

of

distributions

7,277,742

86,759,916

13,235,023

196,137,188

Redemptions:

Institutional

Class

(2,657,154)

(32,892,398)

(988,785)

(14,019,893)

Advisor

Class

(320,588)

(4,101,637)

(340,481)

(4,545,705)

Premier

Class

–

–

(5,247)

(67,861)

Retirement

Class

(2,000,907)

(24,744,453)

(328,664)

(4,910,103)

Retail

Class

(275,130)

(3,360,050)

(359,687)

(5,028,032)

Class

W

(27,293,415)

(345,411,503)

(14,575,649)

(213,407,482)

Total

redemptions

(32,547,194)

(410,510,041)

(16,598,513)

(241,979,076)

Net

increase

(decrease)

from

shareholder

transactions

(10,299,083)

$

(138,188,633)

31,915,196

$

428,434,096

Year

Ended

10/31/23

Year

Ended

10/31/22

2.8

Social

Choice

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

17,453,477

$

410,513,864

26,193,208

$

679,611,546

Advisor

Class

320,131

7,460,838

214,091

5,596,223

Premier

Class

501,570

11,776,220

532,765

13,799,464

Retirement

Class

1,215,413

30,316,983

1,167,869

30,641,791

Retail

Class

980,499

20,181,765

2,648,384

60,548,759

Total

subscriptions

20,471,090

480,249,670

30,756,317

790,197,783

Reinvestments

of

distributions:

Institutional

Class

8,697,336

197,777,413

17,427,754

486,234,335

Advisor

Class

70,354

1,598,445

134,525

3,750,561

Premier

Class

138,358

3,135,205

346,056

9,616,910

Retirement

Class

1,506,586

34,952,806

3,091,900

87,902,705

Retail

Class

1,447,972

28,452,626

2,702,625

65,619,749

Total

reinvestments

of

distributions

11,860,606

265,916,495

23,702,860

653,124,260

Redemptions:

Institutional

Class

(50,882,097)

(1,199,830,114)

(35,014,554)

(888,621,580)

Advisor

Class

(278,753)

(6,662,844)

(414,757)

(10,581,744)

Premier

Class

(2,015,630)

(48,871,789)

(1,544,503)

(39,671,922)

Retirement

Class

(6,671,668)

(160,605,587)

(4,009,215)

(101,768,473)

Retail

Class

(2,998,691)

(61,649,899)

(3,214,352)

(70,851,820)

Total

redemptions

(62,846,839)

(1,477,620,233)

(44,197,381)

(1,111,495,539)

Net

increase

(decrease)

from

shareholder

transactions

(30,515,143)

$

(731,454,068)

10,261,796

$

331,826,504

Notes

to

Financial

Statements

(continued)

198

Year

Ended

10/31/23

Year

Ended

10/31/22

2.9

Social

Choice

Low

Carbon

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

4,201,480

$

75,022,506

12,217,458

$

225,663,997

Advisor

Class

40,604

716,072

257,725

5,005,498

Premier

Class

75,099

1,325,866

85,087

1,590,092

Retirement

Class

3,050,217

54,647,984

5,806,424

108,015,414

Retail

Class

480,733

8,573,133

646,443

12,428,543

Total

subscriptions

7,848,133

140,285,561

19,013,137

352,703,544

Reinvestments

of

distributions:

Institutional

Class

400,725

6,788,288

939,411

19,079,440

Advisor

Class

7,781

131,732

18,240

370,080

Premier

Class

5,737

97,420

15,729

320,111

Retirement

Class

508,905

8,580,131

1,453,537

29,390,504

Retail

Class

49,616

837,526

165,170

3,341,379

Total

reinvestments

of

distributions

972,764

16,435,097

2,592,087

52,501,514

Redemptions:

Institutional

Class

(7,051,616)

(124,431,228)

(6,004,414)

(109,525,821)

Advisor

Class

(275,317)

(5,066,489)

(99,286)

(1,779,612)

Premier

Class

(141,499)

(2,581,379)

(30,280)

(539,660)

Retirement

Class

(1,916,430)

(34,177,884)

(318,448)

(5,673,242)

Retail

Class

(405,558)

(7,205,792)

(509,775)

(9,477,384)

Total

redemptions

(9,790,420)

(173,462,772)

(6,962,203)

(126,995,719)

Net

increase

(decrease)

from

shareholder

transactions

(969,523)

$

(16,742,114)

14,643,021

$

278,209,339

Year

Ended

10/31/23

Year

Ended

10/31/22

3.01

Emerging

Markets

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

4,237,763

$

32,243,665

6,576,268

$

51,872,443

Advisor

Class

832

6,900

24,644

190,001

Premier

Class

111,669

848,039

127,351

1,022,624

Retirement

Class

988,139

7,543,670

770,394

6,369,796

Retail

Class

297,099

2,312,179

256,070

2,106,674

Class

W

35,544,822

271,575,651

96,610,410

736,055,178

Total

subscriptions

41,180,324

314,530,104

104,365,137

797,616,716

Reinvestments

of

distributions:

Institutional

Class

15,028

110,456

6,287,030

57,149,105

Advisor

Class

4

29

636

5,799

Premier

Class

193

1,418

224,863

2,046,257

Retirement

Class

1,366

10,002

2,100,518

19,009,686

Retail

Class

–

–

187,808

1,707,178

Class

W

1,536,230

11,306,655

28,789,939

261,412,650

Total

reinvestments

of

distributions

1,552,821

11,428,560

37,590,794

341,330,675

Redemptions:

Institutional

Class

(6,345,619)

(47,908,576)

(8,938,105)

(73,621,431)

Advisor

Class

(14,666)

(107,648)

(11,980)

(83,207)

Premier

Class

(611,711)

(4,813,550)

(156,811)

(1,314,333)

Retirement

Class

(2,224,386)

(16,883,952)

(1,944,866)

(16,269,473)

Retail

Class

(355,858)

(2,726,559)

(314,784)

(2,637,789)

Class

W

(66,029,213)

(504,863,996)

(30,280,297)

(261,953,506)

Total

redemptions

(75,581,453)

(577,304,281)

(41,646,843)

(355,879,739)

Net

increase

(decrease)

from

shareholder

transactions

(32,848,308)

$

(251,345,617)

100,309,088

$

783,067,652

199

Year

Ended

10/31/23

Year

Ended

10/31/22

3.1

International

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

14,257,274

$

174,657,876

33,823,666

$

397,769,775

Advisor

Class

2,364

30,001

47,398

559,376

Premier

Class

613,139

7,392,328

815,790

10,081,202

Retirement

Class

1,471,827

18,619,739

1,767,094

22,741,969

Retail

Class

658,303

4,878,591

886,963

6,822,574

Class

W

23,315,241

288,358,060

130,258,327

1,411,129,296

Total

subscriptions

40,318,148

493,936,595

167,599,238

1,849,104,192

Reinvestments

of

distributions:

Institutional

Class

4,376,215

50,413,993

5,311,735

73,939,350

Advisor

Class

3,981

46,930

5,357

76,281

Premier

Class

114,195

1,314,382

144,316

2,007,432

Retirement

Class

514,074

6,179,175

768,439

11,150,053

Retail

Class

977,250

6,821,204

1,301,068

11,137,143

Class

W

7,295,845

84,267,010

6,948,596

96,863,433

Total

reinvestments

of

distributions

13,281,560

149,042,694

14,479,511

195,173,692

Redemptions:

Institutional

Class

(29,605,333)

(358,313,811)

(20,613,377)

(254,136,131)

Advisor

Class

(46,005)

(567,738)

(56,802)

(691,357)

Premier

Class

(3,023,139)

(38,121,584)

(764,750)

(9,807,232)

Retirement

Class

(4,820,677)

(61,606,701)

(4,974,263)

(62,428,214)

Retail

Class

(2,728,994)

(20,157,718)

(2,724,032)

(20,426,949)

Class

W

(88,029,202)

(1,068,979,171)

(26,768,058)

(329,829,265)

Total

redemptions

(128,253,350)

(1,547,746,723)

(55,901,282)

(677,319,148)

Net

increase

(decrease)

from

shareholder

transactions

(74,653,642)

$

(904,767,434)

126,177,467

$

1,366,958,736

Year

Ended

10/31/23

Year

Ended

10/31/22

3.2

International

Opportunities

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

1,498,600

$

20,511,064

1,720,240

$

26,529,785

Advisor

Class

145,326

1,980,018

492,704

6,350,328

Premier

Class

15,835

224,870

151,295

2,406,932

Retirement

Class

62,307

873,823

92,630

1,391,678

Retail

Class

390,013

5,432,861

188,107

2,683,186

Class

W

23,017,235

315,543,747

31,181,323

464,581,709

Total

subscriptions

25,129,316

344,566,383

33,826,299

503,943,618

Fund

reorganization

(see

note

1):

Institutional

Class

–

–

1,697,847

21,358,920

Advisor

Class

–

–

4,192,145

52,653,335

Retail

Class

–

–

2,349,147

29,505,285

Class

W

–

–

28,598,123

360,050,363

Total

reorganization

–

–

36,837,262

463,567,903

Reinvestments

of

distributions:

Institutional

Class

4,498

59,920

743,067

12,354,256

Advisor

Class

920

12,237

28,435

448,767

Premier

Class

64

859

2,169

28,580

Retirement

Class

3,147

41,756

787,831

13,179,220

Retail

Class

177

2,347

41,216

688,189

Class

W

232,878

3,104,263

12,406,777

203,729,523

Total

reinvestments

of

distributions

241,684

3,221,382

14,009,495

230,428,535

Redemptions:

Institutional

Class

(1,981,548)

(27,822,718)

(1,077,062)

(15,686,155)

Advisor

Class

(2,645,531)

(35,981,040)

(30,553)

(475,597)

Premier

Class

(5,959)

(85,658)

(995)

(13,696)

Retirement

Class

(1,508,628)

(20,862,527)

(2,014,103)

(30,428,952)

Retail

Class

(629,844)

(8,677,153)

(116,497)

(1,758,640)

Class

W

(39,577,122)

(552,103,316)

(17,529,734)

(251,578,035)

Total

redemptions

(46,348,632)

(645,532,412)

(20,768,944)

(299,941,075)

Net

increase

(decrease)

from

shareholder

transactions

(20,977,632)

$

(297,744,647)

63,904,112

$

897,998,981

Notes

to

Financial

Statements

(continued)

200

7.

Income

Tax

Information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund’s

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund’s

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund’s

financial

statements.

Year

Ended

10/31/23

Year

Ended

10/31/22

3.3

Quant

International

Small-Cap

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

481,377

$

4,580,068

1,015,089

$

10,412,826

Advisor

Class

1,063

10,500

–

–

Premier

Class

–

–

–

–

Retirement

Class

64,908

621,436

719,058

7,229,214

Retail

Class

4,692

47,336

6,966

75,837

Class

W

9,003,935

85,439,265

17,098,702

168,518,734

Total

subscriptions

9,555,975

90,698,605

18,839,815

186,236,611

Reinvestments

of

distributions:

Institutional

Class

246,987

2,264,874

477,425

5,394,899

Advisor

Class

–

–

–

–

Premier

Class

–

–

–

–

Retirement

Class

31,212

285,902

23,679

267,572

Retail

Class

2,802

25,779

5,279

59,813

Class

W

4,848,269

44,458,629

8,621,993

97,600,960

Total

reinvestments

of

distributions

5,129,270

47,035,184

9,128,376

103,323,244

Redemptions:

Institutional

Class

(1,648,137)

(15,784,111)

(806,177)

(8,392,506)

Advisor

Class

–

–

–

–

Premier

Class

–

–

–

–

Retirement

Class

(304,494)

(2,908,646)

(130,592)

(1,306,110)

Retail

Class

(9,254)

(88,434)

(7,647)

(80,518)

Class

W

(33,267,454)

(319,494,946)

(15,191,250)

(160,256,693)

Total

redemptions

(35,229,339)

(338,276,137)

(16,135,666)

(170,035,827)

Net

increase

(decrease)

from

shareholder

transactions

(20,544,094)

$

(200,542,348)

11,832,525

$

119,524,028

Year

Ended

10/31/23

Year

Ended

10/31/22

3.4

Social

Choice

International

Equity

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

16,877,883

$

199,416,898

32,956,696

$

386,940,795

Advisor

Class

394,435

4,709,960

895,856

9,767,041

Premier

Class

29,726

354,765

6,715

78,149

Retirement

Class

9,305,220

110,445,196

15,949,816

190,021,816

Retail

Class

825,344

9,987,563

989,522

12,210,822

Total

subscriptions

27,432,608

324,914,382

50,798,605

599,018,623

Reinvestments

of

distributions:

Institutional

Class

990,732

11,205,179

837,545

11,047,222

Advisor

Class

16,411

185,604

4,833

63,694

Premier

Class

556

6,305

750

9,913

Retirement

Class

959,037

10,817,941

885,076

11,638,754

Retail

Class

40,581

458,165

48,209

634,425

Total

reinvestments

of

distributions

2,007,317

22,673,194

1,776,413

23,394,008

Redemptions:

Institutional

Class

(20,432,948)

(249,749,819)

(9,861,747)

(112,953,530)

Advisor

Class

(216,827)

(2,629,020)

(245,872)

(2,476,276)

Premier

Class

(8,517)

(102,735)

(2,912)

(32,711)

Retirement

Class

(634,227)

(7,768,805)

(91,973)

(1,070,872)

Retail

Class

(521,218)

(6,281,126)

(542,892)

(6,540,478)

Total

redemptions

(21,813,737)

(266,531,505)

(10,745,396)

(123,073,867)

Net

increase

(decrease)

from

shareholder

transactions

7,626,188

$

81,056,071

41,829,622

$

499,338,764

201

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

distribution

reallocations,

foreign

currency

transactions,

foreign

taxes

paid,

investments

in

passive

foreign

investment

companies,

net

operating

losses,

redemptions

in-kind,

return

of

capital

and

long-term

capital

gain

distributions

received

from

portfolio

investments,

tax

equalization,

and

taxable

overdistribution.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund’s

net

assets.

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable. 

As

of

year end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

2.1

Growth

&

Income

$3,834,495,554

$1,481,568,372

$(146,242,728)

$1,335,325,644

2.2

Large-Cap

Growth

3,089,854,875

2,225,531,989

(196,591,773)

2,028,940,216

2.3

Large-Cap

Value

3,333,842,834

1,304,040,531

(142,567,027)

1,161,473,504

2.4

Mid-Cap

Growth

929,832,165

153,594,771

(161,072,746)

(7,477,975)

2.5

Mid-Cap

Value

1,439,046,704

180,133,380

(104,096,927)

76,036,453

2.6

Quant

Small-Cap

Equity

2,340,420,154

403,492,216

(317,648,625)

85,843,591

2.7

Quant

Small/Mid-Cap

Equity

934,145,023

163,995,925

(91,253,548)

72,742,377

2.8

Social

Choice

Equity

3,787,345,378

2,038,571,425

(387,319,000)

1,651,252,425

2.9

Social

Choice

Low

Carbon

Equity

1,039,466,780

190,012,277

(120,449,533)

69,562,744

3.01

Emerging

Markets

Equity

1,667,408,233

165,836,483

(299,554,651)

(133,718,168)

3.1

International

Equity

5,271,290,711

1,160,023,729

(342,174,778)

817,848,951

3.2

International

Opportunities

1,920,462,448

532,277,895

(277,258,482)

255,019,413

3.3

Quant

International

Small-Cap

Equity

1,124,818,009

83,128,531

(138,517,727)

(55,389,196)

3.4

Social

Choice

International

Equity

1,388,591,715

137,071,232

(137,590,269)

(519,037)

Fund

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital

Gains

Unrealized

Appreciation

(Depreciation)

Capital

Loss

Carryforwards

Late-Year

Loss

Deferrals

Other

Book-to-Tax

Differences

Total

2.1

Growth

&

Income

$150,318,716

$829,891,273

$1,335,303,148

$–

$–

$(184,682)

$2,315,328,455

2.2

Large-Cap

Growth

18,726,424

–

2,028,922,755

(30,156,425)

–

(140,159)

2,017,352,595

2.3

Large-Cap

Value

137,352,447

254,004,132

1,161,470,611

–

–

(183,372)

1,552,643,818

2.4

Mid-Cap

Growth

–

–

(7,477,979)

(139,158,178)

–

(56,796)

(146,692,953)

2.5

Mid-Cap

Value

18,210,748

–

76,036,246

(71,585,003)

–

(128,606)

22,533,385

2.6

Quant

Small-Cap

Equity

20,262,729

29,905,359

85,843,591

–

–

(89,294)

135,922,385

2.7

Quant

Small/Mid-Cap

Equity

9,149,741

17,921,159

72,742,377

–

–

(16,036)

99,797,241

2.8

Social

Choice

Equity

73,473,021

240,566,692

1,651,252,425

–

–

(114,971)

1,965,177,167

2.9

Social

Choice

Low

Carbon

Equity

16,418,147

–

69,562,744

–

–

(8,800)

85,972,091

3.01

Emerging

Markets

Equity

60,674,606

–

(136,354,160)

(392,897,153)

–

(43,452)

(468,620,159)

3.1

International

Equity

179,256,605

–

816,654,473

(469,316,239)

–

(161,118)

526,433,721

3.2

International

Opportunities

41,075,278

–

254,879,852

(765,261,798)

–

(49,706)

(469,356,374)

3.3

Quant

International

Small-Cap

Equity

40,092,699

–

(57,672,813)

(175,413,893)

–

(19,574)

(193,013,581)

3.4

Social

Choice

International

Equity

44,485,488

–

(610,733)

(17,660,898)

–

(9,392)

26,204,465

Notes

to

Financial

Statements

(continued)

202

The

tax

character

of

distributions

paid was

as

follows:

As

of

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

In

certain

circumstances,

a

fund

may

distribute

portfolio

securities

rather

than

cash

as

payment

for

a

redemption

of

fund

shares

(in-

kind

redemption). For

federal

income

tax

purposes,

the

gain

is

not

taxable

and

therefore

will

not

be

distributed

to

shareholders.

The

gain

was

reclassified

from

total

distributable

earnings

(loss)

to

paid-in-capital

in

the

Statement

of

Assets

and

Liabilities.

As

of

the

end

of

the

reporting

period,

the

Funds

received

the

following

amounts

from

net

capital

gains

and

in-kind

redemptions

transactions:

8.

Investment

Adviser

and

Other

Transactions

with

Affiliates

Under

the

terms

of

the

Investment

Management

Agreement

with

respect

to

each

Fund, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Funds

have

entered

into

an

Administrative

Service

Agreement

with

the

Adviser

under

which

the

Funds

pay the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Funds.

Under

the

terms

of

a

Retirement

Class

Service

Agreement

with

respect

to

each

Fund,

the

Retirement

Class

of

the

Fund

incurs

an

annual

fee

of

0.25%

of

the

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain

administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statement

of

Operations

are

paid

to

the

Adviser

under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

each

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Retail

Class.

The

Premier

Class

of

each

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Premier

Class.

10/31/23

10/31/22

Fund

Ordinary

Income

Long-Term

Capital

Gains

Ordinary

Income

Long-Term

Capital

Gains

2.1

Growth

&

Income

$

71,213,086

$

321,647,144

$

294,227,402

$

796,209,907

2.2

Large-Cap

Growth

24,347,575

–

320,994,450

363,177,478

2.3

Large-Cap

Value

91,712,631

192,856,957

82,151,692

389,785,204

2.4

Mid-Cap

Growth

5,026,865

–

49,490,967

198,589,104

2.5

Mid-Cap

Value

49,254,478

189,016,300

131,807,949

156,539,967

2.6

Quant

Small-Cap

Equity

26,204,855

132,786,805

215,551,902

317,370,612

2.7

Quant

Small/Mid-Cap

Equity

13,065,386

73,777,892

113,426,289

82,962,463

2.8

Social

Choice

Equity

95,352,360

182,366,385

214,455,378

463,819,118

2.9

Social

Choice

Low

Carbon

Equity

11,676,669

6,418,358

23,294,379

35,614,755

3.01

Emerging

Markets

Equity

11,428,580

–

218,358,924

123,042,526

3.1

International

Equity

151,962,741

–

199,887,332

–

3.2

International

Opportunities

3,225,100

–

70,973,021

159,526,627

3.3

Quant

International

Small-Cap

Equity

47,040,438

–

55,918,997

47,416,556

3.4

Social

Choice

International

Equity

28,266,683

–

25,155,629

4,804,991

Fund

Short-Term

Long-Term

Total

2.1

Growth

&

Income

$

–

$

–

$

–

2.2

Large-Cap

Growth

29,665,652

490,773

30,156,425

2.3

Large-Cap

Value

–

–

–

2.4

Mid-Cap

Growth

101,284,395

37,873,783

139,158,178

2.5

Mid-Cap

Value

51,285,445

20,299,558

71,585,003

2.6

Quant

Small-Cap

Equity

–

–

–

2.7

Quant

Small/Mid-Cap

Equity

–

–

–

2.8

Social

Choice

Equity

–

–

–

2.9

Social

Choice

Low

Carbon

Equity

–

–

–

3.01

Emerging

Markets

Equity

212,030,616

180,866,537

392,897,153

3.1

International

Equity

257,044,008

212,272,231

469,316,239

3.2

International

Opportunities*

660,880,379

104,381,419

765,261,798

3.3

Quant

International

Small-Cap

Equity

141,293,019

34,120,874

175,413,893

3.4

Social

Choice

International

Equity

2,937,128

14,723,770

17,660,898

*

A

portion

of

International

Opportunities'

capital

loss

carryforwards

is

subject

to

limitation

under

the

Internal

Revenue

Code

and

regulated

regulations.

Fund

Net

Capital

Gains

In-Kind

Redemptions

3.1

International

Equity

$

7,181,961

$

23,970,023

203

The

Adviser has

contractually

agreed

to

waive

and/or

reimburse

Class

W’s

shares’

Management

fees

and

Other

expenses

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses,

trustee

expenses

and

extraordinary

expenses)

in

their

entirety.

The

Adviser

expects

this

waiver

and/or

reimbursement

to

remain

in

effect

indefinitely,

unless

changed

or

terminated

with

approval

of

the

Board.

The

Management

fees

and

Other

expenses

of

Class

W

shares

that

have

been

waived

by the

Adviser may

be

incurred

directly

or

indirectly,

all

or

in

part,

by

investors

in

Class

W

shares.

The

Adviser

has

agreed

to

reimburse

each

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

the

end

of

the

reporting

period,

the

investment

management

fee,

service

agreement

fee,

distribution

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Prior

to

March

1,

2023,

the

investment

management

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Investment

Management

Fee

Range

Investment

Management

Fee-

Effective

Rate

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1

Growth

&

Income*

0.300

%

—0.450

%

0.400

%

0.520

%

0.670

%

0.670

%

0.770

%

0.870

%

0.520

%

2.2

Large-Cap

Growth*

0.300

%

—0.450

%

0.402

0.520

0.670

0.670

0.770

0.870

0.520

2.3

Large-Cap

Value*

0.300

%

—0.450

%

0.404

0.520

0.670

0.670

0.770

0.870

0.520

2.4

Mid-Cap

Growth*

0.290

%

—0.480

%

0.462

0.550

0.700

0.700

0.800

0.900

–

2.5

Mid-Cap

Value*

0.290

%

—0.480

%

0.442

0.550

0.700

0.700

0.800

0.900

–

2.6

Quant

Small-Cap

Equity*

0.270

%

—0.460

%

0.404

0.530

0.680

0.680

0.780

0.880

0.530

2.7

Quant

Small/Mid-Cap

Equity*

0.270

%

—0.460

%

0.439

0.530

0.680

0.680

0.780

0.880

0.530

2.8

Social

Choice

Equity

0.150

%

0.150

0.220

0.370

0.370

0.470

0.570

–

2.9

Social

Choice

Low

Carbon

Equity*

0.200

%

—0.250

%

0.249

0.320

0.470

0.470

0.570

0.670

–

3.01

Emerging

Markets

Equity*

0.700

%

—0.850

%

0.838

0.950

1.100

1.100

1.200

1.300

0.950

3.1

International

Equity*

0.350

%

—0.500

%

0.442

0.600

0.750

0.750

0.850

0.950

0.600

3.2

International

Opportunities*

0.450

%

—0.600

%

0.578

0.700

0.850

0.850

0.950

1.050

0.700

3.3

Quant

International

Small-Cap

Equity*

0.500

%

—0.650

%

0.646

0.750

0.900

0.900

1.000

1.100

0.750

3.4

Social

Choice

International

Equity*

0.250

%

—0.300

%

0.297

0.400

0.550

0.550

0.650

0.750

–

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

February

29,

2024.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

Management

Fee

Range

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1

Growth

&

Income*

0.300

%

—0.450

%

0.520

%

0.670

%

0.670

%

0.770

%

0.910

%

0.520

%

2.2

Large-Cap

Growth*

0.300

%

—0.450

%

0.520

0.670

0.670

0.770

0.910

0.520

2.3

Large-Cap

Value*

0.300

%

—0.450

%

0.520

0.670

0.670

0.770

0.910

0.520

2.4

Mid-Cap

Growth*

0.290

%

—0.480

%

0.550

0.700

0.700

0.800

0.940

–

2.5

Mid-Cap

Value*

0.290

%

—0.480

%

0.550

0.700

0.700

0.800

0.940

–

2.6

Quant

Small-Cap

Equity*

0.270

%

—0.460

%

0.530

0.680

0.680

0.780

0.920

0.530

2.7

Quant

Small/Mid-Cap

Equity*

0.270

%

—0.460

%

0.530

0.680

0.680

0.780

0.920

0.530

2.8

Social

Choice

Equity

0.150

%

0.220

0.370

0.370

0.470

0.610

–

2.9

Social

Choice

Low

Carbon

Equity*

0.200

%

—0.250

%

0.320

0.470

0.470

0.570

0.710

–

3.01

Emerging

Markets

Equity*

0.700

%

—0.850

%

0.950

1.100

1.100

1.200

1.340

0.950

3.1

International

Equity*

0.350

%

—0.500

%

0.600

0.750

0.750

0.850

0.990

0.600

3.2

International

Opportunities*

0.450

%

—0.600

%

0.700

0.850

0.850

0.950

1.090

0.700

3.3

Quant

International

Small-Cap

Equity*

0.500

%

—0.650

%

0.750

0.900

0.900

1.000

1.140

0.750

3.4

Social

Choice

International

Equity*

0.250

%

—0.300

%

0.400

0.550

0.550

0.650

0.790

–

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Notes

to

Financial

Statements

(continued)

204

Effective

May

1,

2023,

for

a

one

year

period, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

This

waiver

is

voluntary

in

nature

and

can

be

discontinued

at

any

time

without

prior

notice

to

shareholders

upon

Board

approval.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class,

inclusive

of

voluntary

and

contractual

waivers:

Prior

to

May

1,

2023, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class,

inclusive

of

voluntary

and

contractual

waivers:

The

Funds

receive

voluntary

compensation

from

the

Adviser

in

amounts

that

approximate

the

cost

of

research

services

obtained

from

broker-dealers

and

research

providers

if

the

Adviser

had

purchased

the

research

services

directly.

This

income

received

by

the

Funds,

which

is

disclosed

below, is

recognized

in

"Other

income"

on

the

Statement

of

Operations

and

any

amounts

due

to

the

Funds

at

the

end

of

the

reporting

period

are

recognized

in

"Reimbursement

from

Adviser"

on

the

Statement

of

Assets

and

Liabilities.

During

the

current

fiscal

period,

the

values

of

voluntary

compensation

were

as

follows:

The Funds may

purchase

or

sell

investment

securities

in

transactions

with

affiliated

entities

under

procedures

adopted

by

the

Board,

pursuant

to

the

1940

Act.

These

transactions

are

effected

at

market

rates

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

engaged

in

the

following

security

transactions

with

affiliated

entities: 

Investment

Management

Fee

Range

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1

Growth

&

Income*

0.295

%

—0.445

%

0.515

%

0.665

%

0.665

%

0.765

%

0.865

%

0.515

%

2.5

Mid-Cap

Value*

0.285

%

—0.475

%

0.545

0.695

0.695

0.795

0.895

–

2.8

Social

Choice

Equity

0.140

%

0.210

0.360

0.360

0.460

0.560

–

2.9

Social

Choice

Low

Carbon

Equity*

0.200

%

—0.250

%

0.255

0.405

0.405

0.505

0.605

–

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

Management

Fee

Range

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1

Growth

&

Income*

0.290

%

—0.440

%

0.510

%

0.660

%

0.660

%

0.760

%

0.860

%

0.510

%

2.2

Large-Cap

Growth*

0.275

%

—0.425

%

0.495

0.645

0.645

0.745

0.845

0.495

2.3

Large-Cap

Value*

0.300

%

—0.450

%

0.520

0.670

0.670

0.650

0.870

0.520

2.5

Mid-Cap

Value*

0.285

%

—0.475

%

0.545

0.695

0.695

0.795

0.895

–

2.8

Social

Choice

Equity

0.135

%

0.205

0.355

0.355

0.455

0.555

–

3.01

Emerging

Markets

Equity*

0.700

%

—0.850

%

0.950

1.100

0.940

0.940

1.235

0.950

3.2

International

Opportunities*

0.450

%

—0.600

%

0.700

0.850

0.640

0.640

1.050

0.700

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Fund

Value

2.1

Growth

&

Income

$294,908

2.2

Large-Cap

Growth

194,544

2.3

Large-Cap

Value

208,553

2.4

Mid-Cap

Growth

13,179

2.5

Mid-Cap

Value

102,974

3.01

Emerging

Markets

Equity

214,454

3.1

International

Equity

432,796

3.2

International

Opportunities

465,461

205

A

registered

separate

account

of

TIAA

(collectively

“TIAA

Access”)

has

various

sub-accounts

that

invest

in

the

Funds,

and

certain

funds

within

the

Trust

also

make

investments

in

the

Funds.

The

following

is

the

percentage

of

the

Funds'

shares

owned

by

affiliates

as

of

the

end

of

the

current

fiscal

period:

Companies

in

which a

Fund holds

5%

or

more

of

the

outstanding

voting

shares

are

considered

“affiliated

companies”

of

the

Fund, pursuant

to

the

1940

Act.

Information

regarding

transactions

with

affiliated

companies

is

as

follows:

Payment

from

Adviser:

During

the

current

fiscal

period,

the

Adviser

made

a

voluntary

payment

to

the

Funds

in

an

amount

equal

to

the

impact

estimated

to

have

been

caused

by

an

equity

trading

matter.

Such

payments

are

recognized

as

realized

gains

on

the

Statement

of

Operations:

Fund

Purchases

Sales

Realized

Gain

(Loss)

Growth

&

Income

$

34,739,137

$

42,226,737

$

11,305,824

Large-Cap

Growth

14,761,446

73,638,388

(3,494,152)

Large-Cap

Value

–

37,622,817

887,272

Mid-Cap

Growth

–

22,672,131

9,482,752

Mid-Cap

Value

6,155,019

6,602,810

1,834,504

Quant

Small-Cap

Equity

12,653,869

8,206,563

(423,930)

Quant

Small/Mid-Cap

Equity

859,153

4,090,786

(333,793)

Social

Choice

Equity

6,850,212

28,418,439

8,173,013

Social

Choice

Low

Carbon

Equity

1,727,727

2,835,869

(872,946)

Emerging

Markets

Equity

–

15,004,950

(3,637,750)

International

Equity

–

56,823,135

(8,748,851)

International

Opportunities

–

50,778,881

(6,098,621)

Quant

International

Small-Cap

Equity

5,150,717

123,011,995

(14,270,797)

Social

Choice

International

Equity

4,872,601

5,350,606

(48,101)

Underlying

Fund

TIAA-CREF

Lifecycle

Funds

TIAA-CREF

Lifestyle

Funds

TIAA-CREF

Managed

Allocation

Fund

TIAA

Access

Total

2.1

Growth

&

Income

43

%

2

%

1

%

5

%

51

%

2.2

Large-Cap

Growth

45

2

1

3

51

2.3

Large-Cap

Value

44

2

1

10

57

2.4

Mid-Cap

Growth

–

–

–

18

18

2.5

Mid-Cap

Value

–

–

–

24

24

2.6

Quant

Small-Cap

Equity

19

1

–

11

31

2.7

Quant

Small/Mid-Cap

Equity

55

2

1

–

58

2.8

Social

Choice

Equity

–

–

–

5

5

2.9

Social

Choice

Low

Carbon

Equity

–

–

–

2

2

3.01

Emerging

Markets

Equity

82

3

2

1

88

3.1

International

Equity

50

2

1

8

61

3.2

International

Opportunities

87

3

2

–

92

3.3

Quant

International

Small-Cap

Equity

93

4

2

–

99

3.4

Social

Choice

International

Equity

–

–

–

8

8

Issue

Value

at

10/31/22

Purchases

Cost

Sales

Proceeds

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Dividend

Income

Shares

at

10/31/23

Value

at

10/31/23

Emerging

Markets

Equity

Fund

Common

stocks

Uruguay

Arcos

Dorados

Holdings,

Inc

$

52,972,059

$

–

$

957,611

$

(20,611)

$

10,177,911

$

1,240,678

6,892,655

$

62,171,748

Total

$52,972,059

$–

$957,611

$(20,611)

$10,177,911

$1,240,678

6,892,655

$62,171,748

Fund

Value

2.1

Growth

&

Income

$485,000

2.2

Large-Cap

Growth

2,377,000

2.4

Mid-Cap

Growth

1,214,000

2.5

Mid-Cap

Value

884,000

3.01

Emerging

Markets

Equity

773,000

3.1

International

Equity

1,026,000

3.2

International

Opportunities

234,000

Notes

to

Financial

Statements

(continued)

206

9.

Emerging

Markets

Risks

The

Emerging

Markets

Equity

Fund

holds

a

large

portion

of

its

assets

in

emerging

market

securities.

Emerging

market

securities

are

often

subject

to

greater

price

volatility,

less

liquidity

and

higher

rates

of

inflation

and

deflation

than

U.S.

securities.

In

addition,

emerging

markets

may

be

subject

to

greater

political,

economic

and

social

uncertainty,

and

differing

regulatory

environments

that

may

potentially

impact

the

Fund’s

ability

to

buy

or

sell

certain

securities

or

repatriate

proceeds

to

U.S.

dollars.

10.

Inter-Fund

Lending

Program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Funds may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Funds to

lend

cash

to

and/or

borrow

cash

from

certain

other

affiliated

Funds for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

no

Fund may

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

a

Fund may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund’s investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During the current

fiscal

period,

there

were

no

inter-fund

borrowing

or

lending

transactions. 

11.

Line

of

Credit

The Funds

participate

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

13,

2023

expiring

on

June

11,

2024,

replacing

the

previous facility,

which

expired

June

2023.

Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by the

Adviser,

or

an

affiliate

of

the

Adviser, also

participate

in

this

facility.

An

annual

commitment

fee

for

the

credit

facility

is

borne

by

the

participating

accounts

and

mutual

funds

on

a

pro

rata

basis.

Interest

associated

with

any

borrowing

under

the

facility

is

charged

to

the

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The Funds are

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

There

were

no

borrowings

under

this

credit

facility

by

the

Funds during

the

current fiscal

period.

Important

Tax

Information

(Unaudited)

207

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-Term

Capital

Gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

allowable

amount,

as

being

from net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code: 

Dividends

Received

Deduction

(DRD)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

eligible

for

the

dividends

received

deduction

for

corporate

shareholders:

Qualified

Dividend

Income

(QDI)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

dividend

income

for

individuals

pursuant

to

Section

1(h)(11)

of

the

Internal

Revenue

Code:

Fund

Net

Long-Term

Capital

Gains

2.1

Growth

&

Income

$

443,994,173

2.2

Large-Cap

Growth

–

2.3

Large-Cap

Value

217,842,657

2.4

Mid-Cap

Growth

–

2.5

Mid-Cap

Value

189,016,300

2.6

Quant

Small-Cap

Equity

133,423,853

2.7

Quant

Small/Mid-Cap

Equity

73,962,489

2.8

Social

Choice

Equity

205,087,596

2.9

Social

Choice

Low

Carbon

Equity

6,612,623

3.01

Emerging

Markets

Equity

–

3.1

International

Equity

–

3.2

International

Opportunities

–

3.3

Quant

International

Small-Cap

Equity

–

3.4

Social

Choice

International

Equity

–

Fund

Percentage

2.1

Growth

&

Income

100

.0

%

2.2

Large-Cap

Growth

100

.0

2.3

Large-Cap

Value

100

.0

2.4

Mid-Cap

Growth

100

.0

2.5

Mid-Cap

Value

75

.2

2.6

Quant

Small-Cap

Equity

100

.0

2.7

Quant

Small/Mid-Cap

Equity

88

.0

2.8

Social

Choice

Equity

100

.0

2.9

Social

Choice

Low

Carbon

Equity

100

.0

3.01

Emerging

Markets

Equity

—

3.1

International

Equity

—

3.2

International

Opportunities

—

3.3

Quant

International

Small-Cap

Equity

3

.9

3.4

Social

Choice

International

Equity

—

Fund

Percentage

2.1

Growth

&

Income

100

.0

%

2.2

Large-Cap

Growth

100

.0

2.3

Large-Cap

Value

100

.0

2.4

Mid-Cap

Growth

100

.0

2.5

Mid-Cap

Value

79

.6

2.6

Quant

Small-Cap

Equity

100

.0

2.7

Quant

Small/Mid-Cap

Equity

92

.7

2.8

Social

Choice

Equity

100

.0

2.9

Social

Choice

Low

Carbon

Equity

100

.0

3.01

Emerging

Markets

Equity

93

.5

3.1

International

Equity

98

.9

3.2

International

Opportunities

63

.1

3.3

Quant

International

Small-Cap

Equity

64

.1

3.4

Social

Choice

International

Equity

100

.0

Important

Tax

Information

(Unaudited)

(continued)

208

Qualified

interest

income

(QII)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

interest

income

and/or

short-term

capital

gain

dividends pursuant

to

Section

871(k)

of

the

Internal

Revenue

Code:

Foreign

Source

Income

and

Foreign

Tax

Credit

Pass

Through

Each

Fund

listed

below

has

made

an

election

under

Section

853

of

the

Internal

Revenue

Code

to

pass

through

foreign

taxes

paid: 

163(j)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

dividends

treated

as

Section

163(j)

interest

dividends

pursuant

to

Section

163(j)

of

the

Internal

Revenue

Code: 

Fund

Prior

Year

End

to

12/31

Percentage

1/1

to

Current

Year

End

Percentage

2.1

Growth

&

Income

0

.3

%

1

.4

%

2.2

Large-Cap

Growth

0

.3

—

2.3

Large-Cap

Value

0

.1

—

2.4

Mid-Cap

Growth

0

.5

—

2.5

Mid-Cap

Value

0

.1

—

2.6

Quant

Small-Cap

Equity

0

.2

—

2.7

Quant

Small/Mid-Cap

Equity

0

.1

—

2.8

Social

Choice

Equity

0

.1

—

2.9

Social

Choice

Low

Carbon

Equity

0

.2

—

3.01

Emerging

Markets

Equity

1

.8

—

3.1

International

Equity

0

.5

—

3.2

International

Opportunities

8

.1

—

3.3

Quant

International

Small-Cap

Equity

—

—

3.4

Social

Choice

International

Equity

0

.2

—

Fund

Foreign

Source

Income

Foreign

Source

Income

Per

Share

Qualifying

Foreign

Taxes

Paid

Qualifying

Foreign

Taxes

Paid

per

Share

2.1

Growth

&

Income

$

—

$

—

$

—

$

—

2.2

Large-Cap

Growth

—

—

—

—

2.3

Large-Cap

Value

—

—

—

—

2.4

Mid-Cap

Growth

—

—

—

—

2.5

Mid-Cap

Value

—

—

—

—

2.6

Quant

Small-Cap

Equity

—

—

—

—

2.7

Quant

Small/Mid-Cap

Equity

—

—

—

—

2.8

Social

Choice

Equity

—

—

—

—

2.9

Social

Choice

Low

Carbon

Equity

—

—

—

—

3.01

Emerging

Markets

Equity

54,539,174

0.26070

3,706,722

0.01772

3.1

International

Equity

189,116,030

0.36172

18,462,301

0.03531

3.2

International

Opportunities

40,562,385

0.23892

3,959,774

0.02332

3.3

Quant

International

Small-Cap

Equity

37,571,316

0.32101

4,119,953

0.03520

3.4

Social

Choice

International

Equity

41,059,381

0.34312

2,901,290

0.02425

Fund

Percentage

2.1

Growth

&

Income

0

.5

%

2.2

Large-Cap

Growth

1

.3

2.3

Large-Cap

Value

0

.3

2.4

Mid-Cap

Growth

1

.1

2.5

Mid-Cap

Value

0

.2

2.6

Quant

Small-Cap

Equity

1

.0

2.7

Quant

Small/Mid-Cap

Equity

0

.5

2.8

Social

Choice

Equity

0

.3

2.9

Social

Choice

Low

Carbon

Equity

1

.0

3.01

Emerging

Markets

Equity

9

.4

3.1

International

Equity

2

.4

3.2

International

Opportunities

3

.3

3.3

Quant

International

Small-Cap

Equity

–

3.4

Social

Choice

International

Equity

0

.6

Additional

Fund

Information

©2023

Teachers

Insurance

and

Annuity

Association

of

America—College

Retirement

Equities

Fund,

730

Third

Avenue,

New

York,

NY

10017-3206

209

Portfolio

holdings

The

TIAA-CREF

Funds

file

complete

portfolio

listings

with

the

Securities

and

Exchange

Commission

(SEC),

and

it

is

available

to

the

public.

You

can

obtain

a

complete

list

of

the

TIAA-CREF

Funds’

holdings

(Portfolios

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

websites

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

TIAA-CREF

Funds’

portfolio

holdings

as

of

the

most

recently

completed

fiscal

quarter,

and

for

prior

quarter-ends,

from

our

SEC

Form

N-CSR

and

Form

N-PORT

filings.

Form

N-CSR

filings

are

as

of

October

31

or

April

30;

Form

N-PORT

filings

are

as

of

January

31

or

July

31.

Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC’s

website

at

sec.gov;

or

From

the

SEC’s

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

TIAA-CREF

Funds’

ownership

of

stock

gives

it

the

right

to

vote

on

proxy

issues

of

companies

in

which

it

invests.

A

description

of

our

proxy

voting

policies

and

procedures

can

be

found

on

our

website

at

TIAA.org

or

on

the

SEC’s

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

to

request

a

free

copy.

A

report

of

how

the

funds

voted

during

the

most

recently

completed

twelve-month

period

ended

June

30

can

be

found

on

our

website

or

on

Form

N-PX

at

sec.gov.

Contacting

TIAA

There

are

three

easy

ways

to

contact

us:

by

email,

using

the

Contact

Us

link

at

the

top

of

our

home

page;

by

mail

at

TIAA,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

TIAA-CREF

Funds

are

managed

by

the

portfolio

management

teams

of

Teachers

Advisors,

LLC.

The

members

of

these

teams

are

responsible

for

the

day-to-day

investment

management

of

the

funds.

You

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

information,

please

visit

TIAA.org,

or

call

800-842-2252

for

the

Institutional,

Advisor,

Premier,

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

Please

read

the

prospectus

carefully

before

investing.

Investment,

insurance

and

annuity

products

are

not

Federal

Deposit

Insurance

Corporation

(FDIC)

insured,

are

not

bank

guaranteed,

are

not

bank

deposits,

are

not

insured

by

any

federal

government

agency,

are

not

a

condition

to

any

banking

service

or

activity,

and

may

lose

value.

Nuveen,

a

subsidiary

of

TIAA,

provides

investment

advice

and

portfolio

management

services

through

a

dozen

affiliated

registered

investment

advisers.

Nuveen

Securities,

LLC

and

TIAA-CREF

Individual

&

Institutional

Services,

LLC,

members

FINRA,

distribute

securities

products.

This

material

is

for

informational

or

educational

purposes

only

and

does

not

constitute

fiduciary

investment

advice

under

ERISA,

a

securities

recommendation

under

all

securities

laws,

or

an

insurance

product

recommendation

under

state

insurance

laws

or

regulations.

This

material

does

not

take

into

account

any

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor’s

own

objectives

and

circumstances.

October

31,

2023

Trustees

and

Officers

(Unaudited)

210

Trustees

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Forrest

Berkley

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2006.

Partner

(1990-2005)

and

Head

of

Global

Product

Management

(2003-2005),

GMO

(formerly,

Grantham,

Mayo,

Van

Otterloo

&

Co.)

(investment

management);

and

member

of

asset

allocation

portfolio

management

team,

GMO

(2003-2005).

88

Investment

Committee

Member,

Maine

Community

Foundation.

Joseph

A.

Boateng

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Trustee

Indefinite

term.

Trustee

since

2019.

Chief

Investment

Officer,

Casey

Family

Programs

(since

2007).

88

Board

member,

Lumina

Foundation

and

Waterside

School;

Emeritus

Board

Member,

Year-Up

Puget

Sound;

Investment

Advisory

Committee

Member,

Seattle

City

Employees’

Retirement

System;

Investment

Committee

Member,

The

Seattle

Foundation.

Joseph

A.

Carrier

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1960

Trustee

Indefinite

term.

Trustee

since

2023.

Senior

Vice

President,

Enterprise

Risk

Management,

Franklin

Resources,

Inc.

(2020-2022).

Senior

Managing

Director,

Chief

Risk

Officer

and

Chief

Audit

Executive,

Legg

Mason,

Inc.

(2008-2020).

88

Director,

Franklin

Templeton

Irish

Funds;

Board

Member,

Cal

Ripken,

Sr.

Foundation;

Advisory

Board

Member,

Loyola

University

Maryland,

Sellinger

School

of

Business

and

Management.

Janice

C.

Eberly

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2018.

Distinguished

Senior

Fellow,

MIT

Sloan

and

Golub

Center

for

Finance

and

Policy

(since

2023).  James

R.

and

Helen

D.

Russell

Professor

of

Finance

at

the

Kellogg

School

of

Management,

Northwestern

University

(2002-2011

and

since

2013),

Senior

Associate

Dean

for

Strategy

and

Academics

(2020-2023)

and

Chair

of

the

Finance

Department

(2005-2007).

Vice

President,

American

Economic

Association

(2020-2021).

Assistant

Secretary

for

Economic

Policy,

United

States

Department

of

the

Treasury

(2011-2013).

88

Member

of

the

Board

of

the

Office

of

Finance,

Federal

Home

Loan

Banks;

Director,

Avant,

LLC.

Nancy

A.

Eckl

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.  

Trustee

since

2007.

Vice

President

(1990–2006),

American

Beacon

Advisors,

Inc.

and

of

certain

funds

advised

by

American

Beacon

Advisors,

Inc.

88

Independent

Director

and

Audit

Committee

Chair,

The

Lazard

Funds,

Inc.,

Lazard

Retirement

Series,

Inc.

and

Lazard

Global

Total

Return

and

Income

Fund,

Inc.

Michael

A.

Forrester

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1967

Trustee

Indefinite

term.  

Trustee

since

2007.

Chief

Executive

Officer

(2014–2021)

and

Chief

Operating

Officer

(2007–2014),

Copper

Rock

Capital

Partners,

LLC.

88

Trustee,

Dexter

Southfield

School;

Member,

Governing

Council

of

the

Independent

Directors

Council.

Howell

E.

Jackson

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2005.

Special

Adviser,

White

House

Council

of

Economic

Advisers

(since

2023).

James

S.

Reid,

Jr.

Professor

of

Law

(since

2004),

Senior

Adviser

to

President

and

Provost

(2010–2012),

Acting

Dean

(2009),

Vice

Dean

for

Budget

(2003–2006)

and

on

the

faculty

(since

1989)

of

Harvard

Law

School.

88

Nicole

Thorne

Jenkins

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Trustee

Indefinite

term.

Trustee

since

2023.

John

A.

Griffin

Dean

of

the

McIntire

School

of

Commerce

at

the

University

of

Virginia

(since

2020).  Vice

Dean

(2016–2020),

Von

Allmen

Chaired

Professor

of

Accountancy

(2017–2020),

Associate

Professor

and

EY

Research

Fellow

(2012–2017),

Gatton

College

of

Business

and

Economics

at

the

University

of

Kentucky.

88

Trustee

and

Chair

of

the

Audit

&

Finance

Committee,

Strada

Education

Network;

Treasurer

and

Director,

The

Montpelier

Foundation.

Thomas

J.

Kenny

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Chairman

of

the

Board

and

Trustee

Indefinite

term.

Trustee

since

2011;

Chairman

for

term

ending

June

30,

2023.

Chairman

since

September

13,

2017.

Advisory

Director

(2010–2011),

Partner

(2004–2010),

Managing

Director

(1999–2004)

and

Co-Head

of

Global

Cash

and

Fixed

Income

Portfolio

Management

Team

(2002–2010),

Goldman

Sachs

Asset

Management.

88

Director

and

Chair

of

the

Finance

and

Investment

Committee,

Aflac

Incorporated;

Director,

ParentSquare.

211

Officers

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

James

M.

Poterba

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1958

Trustee

Indefinite

term.

Trustee

since

2006.

President

and

Chief

Executive

Officer

(since

2008)

and

Program

Director

(1990-2008),

National

Bureau

of

Economic

Research.

Mitsui

Professor

of

Economics,

Massachusetts

Institute

of

Technology

(“MIT”)

(since

1996);

Affiliated

Faculty

Member

of

the

Finance

Group,

Alfred

P.

Sloan

School

of

Management

(since

2014);

Head

(2006–2008)

and

Associate

Head

(1994–2000

and

2001–2006),

Economics

Department

of

MIT.

88

Director,

National

Bureau

of

Economic

Research;

Member,

Congressional

Budget

Office

Panel

of

Economic

Advisers.

Loren

M.

Starr

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1961

Trustee

Indefinite

term.

Trustee

since

2022.

Independent

Consultant/Advisor

(since

2021).

Vice

Chair,

Senior

Managing

Director

(2020–2021),

Chief

Financial

Officer,

Senior

Managing

Director

(2005–

2020),

Invesco

Ltd.

88

Director,

AMG.

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

Richard

S.

Biegen

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1962

Chief

Compliance

Officer

One-year

term.

Chief

Compliance

Officer

since

2008.

Senior

Managing

Director,

TIAA.

Chief

Compliance

Officer

of

the

College

Retirement

Equities

Fund

(“CREF”),

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

(collectively,

the

“TIAA-CREF

Fund

Complex”).

Claire

Borelli

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1960

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2023.

Senior

Executive

Vice

President,

Chief

People

Officer

of

TIAA

and

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Vice

President,

Chief

Diversity

&

Talent

Officer,

TIAA.

Prior

to

joining

TIAA,

Ms.

Borelli

served

as

Chief

Human

Resources

Officer

for

the

Consumer

Bank

and

Wealth

Management

sectors

of

JPMorgan

Chase

&

Co.

Derek

B.

Dorn

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1976

Senior

Managing

Director

and

Corporate

Secretary

One-year

term.

Senior

Managing

Director

and

Corporate

Secretary

since

2020.

Senior

Managing

Director

and

Corporate

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”)

and

the

TIAA-CREF

Fund

Complex.

Formerly,

Managing

Director,

Special

Assistant

to

the

CEO

and

Managing

Director,

Regulatory

Affairs,

TIAA.

Prior

to

joining

TIAA,

Mr.

Dorn

served

as

a

partner

at

Davis

&

Harman

LLP

and

an

adjunct

professor

of

Law

at

Georgetown

University

Law

Center.

John

L.

Douglas

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1950

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

One-year

term.

Executive

Vice

President

since

2021

and

Chief

Legal,

Risk

and

Compliance

Officer

since

2022.

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA.

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Senior

Advisor

to

the

CEO,

and

Senior

Executive

Vice

President,

Chief

Advocacy

&

Oversight

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Douglas

was

a

Partner

at

Davis

Polk

&

Wardwell

LLP.

W.

Dave

Dowrich

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1967

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022.

Senior

Executive

Vice

President

and

Chief

Financial

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Prior

to

joining

TIAA,

Mr.

Dowrich

served

as

Chief

Financial

Officer,

International

Businesses

at

Prudential

Financial,

Inc.

Bradley

Finkle

TIAA

730

Third

Avenue

New

York,

NY   10017-3206

YOB:

1973

Principal

Executive

Officer

and

President

One-year

term.

Principal

Executive

Officer

and

President

since

2017.

Executive

Vice

President,

Head

of

Complementary

Businesses

and

Chief

Administrative

Officer

of

the

Chief

Operating

Office,

TIAA.

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

Formerly,

Executive

Vice

President,

Chief

Operating

Officer,

Nuveen;

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

VA-1;

and

Senior

Managing

Director,

Co-Head

Nuveen

Equities

&

Fixed

Income

and

President

of

TIAA

Investments.

Jose

Minaya

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1971

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018.

Chief

Executive

Officer,

Nuveen.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Executive

Vice

President,

President

and

Chief

Investment

Officer,

Nuveen;

Executive

Vice

President,

Chief

Investment

Officer

and

President,

Nuveen

Global

Investments;

and

Senior

Managing

Director,

President,

Global

Investments,

TIAA.

Trustees

and

Officers

(Unaudited)

(continued)

October

31,

2023

212

Please

note

that

the

Funds’

Statement

of

Additional

Information

(SAI)

includes

additional

information

about

the

Funds’

trustees

and

is

available,

without

charge,

through

our

website,

tiaa.org,

or

by

calling

800

223-1200.

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

Colbert

Narcisse

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1965

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022.

Senior

Executive

Vice

President,

Chief

Product

and

Business

Development

Officer

of

TIAA.

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

VA-1.

Executive

Vice

President

of

TIAA-CREF

Funds

and

TIAA-

CREF

Life

Funds.

Formerly,

Executive

Vice

President

and

Head

of

Advisory

and

Corporate

Solutions,

TIAA.

Prior

to

joining

TIAA,

Mr.

Narcisse

served

as

Managing

Director

and

Head

of

International

Wealth

Management

and

Head

of

Traditional

and

Alternative

Investment

Products

at

Morgan

Stanley.

David

G.

Nason

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2020.

Senior

Executive

Vice

President,

Chief

Operating

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA,

Executive

Vice

President,

Chief

Risk

and

Compliance

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Nason

served

as

President

and

CEO

of

GE

Energy

Financial

Services.

E.

Scott

Wickerham

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1973

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

One-year

term.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

since

2017.

Senior

Managing

Director,

Head

of

Finance

for

Equities

and

Fixed

Income,

Nuveen.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

of

the

TIAA-CREF

Fund

Complex;

and

Vice

President

and

Controller

of

the

Nuveen

Funds.

Formerly,

Senior

Managing

Director,

Head,

Public

Investment

Finance,

Nuveen,

and

Managing

Director,

Head,

TC

Fund

Administration,

Nuveen.

Additional

Information

About

Index

Providers

(Unaudited)

213

Russell

Indexes

Source:

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

“LSE

Group”).

©

LSE

Group

2023.

FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

“FTSE®,”

“Russell®”

and

“FTSE

Russell®”

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company’s

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

Standard

&

Poor's

Index

The

S&P

500®

Index

is

a

product

 of

S&P

Dow

Jones

Indices

LLC,

a

division

of

S&P

Global,

or

its

affiliates

(“SPDJI”),

and has

been

licensed

for

use

by

the

Growth

&

Income

Fund.

Standard

&

Poor’s®

and

S&P®

are

registered

trademarks

of

Standard

&

Poor’s

Financial

Services

LLC,

a

division

of

S&P

Global

(“S&P”);

Dow

Jones®

is

a

registered

trademark

of

Dow

Jones

Trademark

Holdings

LLC

(“Dow

Jones”).

It

is

not

possible

to

invest

directly

in

an

index.

The

fund

is not

sponsored,

endorsed,

sold

or

promoted

by

SPDJI,

Dow

Jones,

S&P,

any

of

their

respective

affiliates

(collectively,

“S&P

Dow

Jones

Indices”).

S&P

Dow

Jones

Indices

does

not

make

any

representation

or

warranty,

express

or

implied,

to

the

owners

of

the fund

or

any

member

of

the

public

regarding

the

advisability

of

investing

in

securities

generally

or

in

the fund

particularly

or

the

ability

of

the

S&P

500

Index to

track

general

market

performance.

Past

performance

of

an

index

is

not

an

indication

or

guarantee

of

future

results.

S&P

Dow

Jones

Indices’

only

relationship

to

the

fund

with

respect

to

the

S&P

500

Index is

the

licensing

of

the Index

and

certain

trademarks,

service

marks

and/or

trade

names

of

S&P

Dow

Jones

Indices

and/or

its

licensors.

The S&P

500

Index

is

determined,

composed

and

calculated

by

S&P

Dow

Jones

Indices

without

regard

to

the

fund.

S&P

Dow

Jones

Indices

has

no

obligation

to

take

the

needs

of

the fund

or

the

owners

of

the fund

into

consideration

in

determining,

composing

or

calculating

the

S&P

500

Index.

S&P

Dow

Jones

Indices

is

not

responsible

for

and

has

not

participated

in

the

determination

of

the

prices,

and

amount

of

the fund

or

the

timing

of

the

issuance

or

sale

of

fund

shares

or

in

the

determination

or

calculation

of

the

equation

by

which fund

shares

are

to

be

converted

into

cash,

surrendered

or

redeemed,

as

the

case

may

be.

S&P

Dow

Jones

Indices

has

no

obligation

or

liability

in

connection

with

the

administration,

marketing

or

trading

of

the

fund.

There

is

no

assurance

that

investment

products

based

on

the

S&P 500

Index

will

accurately

track

index

performance

or

provide

positive

investment

returns.

S&P

Dow

Jones

Indices

LLC

is

not

an

investment

or

tax

advisor.

A

tax

advisor

should

be

consulted

to

evaluate

the

impact

of

any

tax-exempt

securities

on

portfolios

and

the

tax

consequences

of

making

any

particular

investment

decision.

Inclusion

of

a

security

within

an

index

is

not

a

recommendation

by

S&P

Dow

Jones

Indices

to

buy,

sell,

or

hold

such

security,

nor

is

it

considered

to

be

investment

advice.

S&P

DOW

JONES

INDICES

DOES

NOT

GUARANTEE

THE

ADEQUACY,

ACCURACY,

TIMELINESS

AND/OR

THE

COMPLETENESS

OF

THE

S&P 500

INDEX

OR

ANY

DATA

RELATED

THERETO

OR

ANY

COMMUNICATION,

INCLUDING

BUT

NOT

LIMITED

TO,

ORAL

OR

WRITTEN

COMMUNICATION

(INCLUDING

ELECTRONIC

COMMUNICATIONS)

WITH

RESPECT

THERETO.

S&P

DOW

JONES

INDICES

SHALL

NOT

BE

SUBJECT

TO

ANY

DAMAGES

OR

LIABILITY

FOR

ANY

ERRORS,

OMISSIONS,

OR

DELAYS

THEREIN.

S&P

DOW

JONES

INDICES

MAKES

NO

EXPRESS

OR

IMPLIED

WARRANTIES,

AND

EXPRESSLY

DISCLAIMS

ALL

WARRANTIES,

OF

MERCHANTABILITY

OR

FITNESS

FOR

A

PARTICULAR

PURPOSE

OR

USE

OR

AS

TO

RESULTS

TO

BE

OBTAINED

BY

THE

FUND,

OWNERS

OF

THE

FUND,

OR

ANY

OTHER

PERSON

OR

ENTITY

FROM

THE

USE

OF

THE

S&P

500

INDEX

OR

WITH

RESPECT

TO

ANY

DATA

RELATED

THERETO.

WITHOUT

LIMITING

ANY

OF

THE

FOREGOING,

IN

NO

EVENT

WHATSOEVER

SHALL

S&P

DOW

JONES

INDICES

BE

LIABLE

FOR

ANY

INDIRECT,

SPECIAL,

INCIDENTAL,

PUNITIVE,

OR

CONSEQUENTIAL

DAMAGES

INCLUDING

BUT

NOT

LIMITED

TO,

LOSS

OF

PROFITS,

TRADING

LOSSES,

LOST

TIME

OR

GOODWILL,

EVEN

IF

THEY

HAVE

BEEN

ADVISED

OF

THE

POSSIBILITY

OF

SUCH

DAMAGES,

WHETHER

IN

CONTRACT,

TORT,

STRICT

LIABILITY,

OR

OTHERWISE.

THERE

ARE

NO

THIRD

PARTY

BENEFICIARIES

OF

ANY

AGREEMENTS

OR

ARRANGEMENTS

BETWEEN

S&P

DOW

JONES

INDICES

AND

THE

FUND,

OTHER

THAN

THE

LICENSORS

OF

S&P

DOW

JONES

INDICES.

MSCI

Indexes

Source:

MSCI.

The

MSCI

information

may

only

be

used

for

your

internal

use,

may

not

be

reproduced

or

redisseminated

in

any

form

and

may

not

be

used

as

a

basis

for

or

a

component

of

any

financial

instruments

or

products

or

indices.

None

of

the

MSCI

information

is

intended

to

constitute

investment

advice

or

a

recommendation

to

make

(or

refrain

from

making)

any

kind

of

investment

decision

and

may

not

be

relied

on

as

such.

Historical

data

and

analysis

should

not

be

taken

as

an

indication

or

guarantee

of

any

future

performance

analysis,

forecast

or

prediction.

The

MSCI

information

is

provided

on

an

“as

is”

basis

and

the

user

of

this

information

assumes

the

entire

risk

of

any

use

made

of

this

information.

MSCI,

each

of

its

affiliates

and

each

other

person

involved

in

or

related

to

compiling,

computing

or

creating

any

MSCI

information

(collectively,

the

“MSCI

Parties”)

expressly

disclaims

all

warranties

(including,

without

limitation,

any

warranties

of

originality,

accuracy,

completeness,

timeliness,

non-infringement,

merchantability

and

fitness

for

a

particular

purpose)

with

respect

to

this

information.

Without

limiting

any

of

the

foregoing,

in

no

event

shall

any

MSCI

Party

have

any

liability

for

any

direct,

indirect,

special,

incidental,

punitive,

consequential

(including,

without

limitation,

lost

profits)

or

any

other

damages.

(www.msci.com)

3191735

We’re

fond

of

paper...in

its

original

form.

Switch

to

eDelivery

at

TIAA.org/eDelivery

or

check

with

your

financial

advisor

or

brokerage

account

for

eDelivery

options

A12446

(12/23)

Equity

Index

Funds

TIAA-CREF

Annual

Report

TIAA-CREF

Funds

October

31,

2023

Fund

Name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

4.1

TIAA-CREF

Equity

Index

Fund

TIEIX

TEIHX

TCEPX

TIQRX

TINRX

TEQWX

4.2

TIAA-CREF

Large-Cap

Growth

Index

Fund

TILIX

TRIHX

–

TRIRX

–

–

4.3

TIAA-CREF

Large-Cap

Value

Index

Fund

TILVX

THCVX

–

TRCVX

–

–

4.4

TIAA-CREF

S&P

500

Index

Fund

TISPX

TISAX

–

TRSPX

–

–

4.5

TIAA-CREF

Small-Cap

Blend

Index

Fund

TISBX

TRHBX

–

TRBIX

–

–

4.6

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

TEQLX

TEQHX

TEQPX

TEQSX

TEQKX

TENWX

4.7

TIAA-CREF

International

Equity

Index

Fund

TCIEX

TCIHX

TRIPX

TRIEX

–

TCIWX

Table

of

Contents

Letter

to

Investors

3

Important

Notices

5

Market

Monitor

6

About

the

Funds’

Benchmarks

7

Portfolio

Managers’

Comments

8

Fund

Performance

14

Expense

Examples

28

Report

of

Independent

Registered

Public

Accounting

Firm

31

Portfolios

of

Investments

32

Statement

of

Assets

and

Liabilities

192

Statement

of

Operations

196

Statement

of

Changes

in

Net

Assets

198

Financial

Highlights

202

Notes

to

Financial

Statements

216

Important

Tax

Information

229

Additional

Fund

Information

231

Trustees

and

Officers

232

Additional

Information

About

Index

Providers

235

3

Letter

to

Investors

Brad

Finkle

Global

stocks

posted

solid

gains

for

the

twelve

months

ended

October

31,

2023.

The

U.S.

economy

continued

to

grow

despite

interest

rates

climbing

higher.

Around

the

world,

major

foreign

economies

also

expanded

as

central

banks

tightened

monetary

policies.

For

the

twelve

months:

The

Russell

3000®

Index,

which

measures

the

performance

of

the

broad

U.S.

stock

market,

advanced

8.4%.

The

MSCI

EAFE®

Index,

which

tracks

stocks

in

21

developed-markets

nations

outside

North

America,

gained

14.4%.

The

MSCI

Emerging

Markets

Index,

which

represents

the

performance

of

stocks

in

24

developing

nations,

rose

10.8%.

Most

of

the

TIAA-CREF

Equity

Index

Funds

(Institutional

Class)

posted

gains

for

the

period.

U.S.

economy

stayed

on

growth

track

Domestic

stocks

generally

produced

solid

results

as

the

U.S.

economy

grew

amid

ongoing

inflation

concerns.

The

labor

market

was

strong

and

consumer

spending

remained

resilient

despite

rising

interest

rates.

After

three

quarters

of

moderate

growth,

the

economy

expanded

at

an

accelerated

pace

during

the

third

quarter

of

2023.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–5.50%.

Policymakers

left

rates

unchanged

at

a

meeting

late

in

the

period,

but

indicated

one

more

increase

was

possible

before

the

end

of

the

year.

For

the

twelve

months,

large-cap

stocks

outperformed

mid-

and

small-cap

shares,

both

of

which

lost

ground,

while

growth

equities

outperformed

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Foreign

developed

and

emerging

markets

outperformed

U.S.

stocks

Foreign

developed-markets

stocks

generated

double-digit

gains

as

many

of

the

world’s

large

economies

continued

to

grow

over

the

twelve-month

period.

The

economy

of

the

19-nation

euro

area

expanded

on

a

year-over-year

basis,

but

the

pace

of

growth

slowed.

Inflation

remained

a

pressing

concern

in

Europe

and

the

United

Kingdom.

As

such,

the

European

Central

Bank

increased

its

suite

of

benchmark

interest

rates

multiple

times

during

the

period.

Similarly,

the

Bank

of

England

raised

its

benchmark

rate

to

5.25%.

Emerging-markets

stocks

posted

a

strong

advance,

although

they

gave

up

a

portion

of

their

gains

over

the

final

three

months

of

the

period.

China’s

economy

grew

over

the

period,

despite

a

struggling

real

estate

sector.

Most

index

funds

posted

gains

Nearly

all

TIAA-CREF

Equity

Index

Funds

advanced

for

the

twelve

months.

Each

fund

invests

in

a

portfolio

that

attempts

to

match

the

risk

and

return

characteristics

of

its

benchmark

index

at

a

low

cost

per

invested

dollar.

The

funds’

performance

includes

a

deduction

for

expenses,

while

the

returns

of

their

respective

indexes

do

not.

The

funds’

twelve-month

returns

ranged

from

18.9%

for

the

Large-Cap

Growth

Index

Fund

to

−8.4%

for

the

Small

Cap

Blend

Index

Fund.

(All

fund

returns

are

for

the

Institutional

Class.)

The

Large-Cap

Growth

Index

Fund

performed

best

with

a

strong

double-digit

gain.

Its

value

counterpart,

the

Large-Cap

Value

Index

Fund,

edged

higher

at

0.1%.

The

S&P

500

Index

Fund

rose

10.1%,

and

the

Equity

Index

Fund

advanced

8.3%.

The

Small-Cap

Blend

Index

Fund

posted

a

single-digit

loss.

Among

TIAA-CREF’s

foreign

equity

index

portfolios,

the

International

Equity

Index

Fund

gained

15.3%,

while

the

Emerging

Markets

Equity

Index

Fund

advanced

10.5%.

Letter

to

Investors

(continued)

4

Maintaining

a

thoughtful

financial

plan

during

uncertain

times

Over

the

last

twelve

months,

global

economies

have

shown

great

resilience

in

the

midst

of

persistent

inflation

and

higher

interest

rates.

In

the

United

States,

consumer

spending

remained

strong,

and

the

labor

market

continued

on

a

positive

trajectory

with

relatively

low

levels

of

unemployment.

Furthermore,

the

stock

market

generally

performed

well,

although

the

journey

certainly

had

its

ups

and

downs.

As

a

result,

it

is

important

to

have

a

long-term

financial

plan

and

stay

focused

on

that

plan

during

the

inevitable

periods

of

volatility.

We

believe

that

by

working

with

a

financial

advisor

and

maintaining

a

diversified

portfolio

of

mutual

funds

that

invest

in

different

asset

classes—including

equities—

investors

can

achieve

their

long-term

investment

objectives.

Of

course,

diversification

does

not

guarantee

against

market

losses.

If

you

have

any

questions

or

would

like

to

talk

about

your

portfolio,

please

contact

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

We

would

be

pleased

to

help

you.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

Important

Notices

5

Securities

and

Exchange

Commission

(the

“SEC”)

Adopts

Amendments

for

Tailored

Shareholder

Reports

On

October

26,

2022,

the

SEC

adopted

rule

and

form

amendments

(the

“Amendments”)

that

require

mutual

funds

and

exchange-

traded

funds

registered

on

Form

N-1A

to

provide

shareholders

with

streamlined

annual

and

semi-annual

shareholder

reports

(“Tailored

Shareholder

Reports”). The

Amendments

require

funds

to

prepare

a

separate

Tailored

Shareholder

Report

for

each

share

class

of

each

series

of

a

fund.

As

a

result,

shareholders

will

receive

a

report

that

covers

only

the

class

of

a

multi-class

fund

in

which

the

shareholder

invests.

Tailored

Shareholder

Reports

are

meant

to

be

three

to

four

pages

in

length

and

will

highlight

key

information

such

as

a

fund’s

expenses,

performance

and

portfolio

holdings.

Other,

more

detailed

information

that

currently

appears

in

fund

shareholder

reports

will

be

made

available

online,

filed

with

the

SEC,

and

delivered

to

investors

free

of

charge

in

paper

or

electronically

upon

request.

The

first

Tailored

Shareholder

Reports

to

be

prepared

for

these

Funds

will

be

for

the

reporting

period

ended

October

31,

2024.

Dormancy

of

Class

W

Effective

after

the

close

of

business

on

July

25,

2023

for

Large-Cap

Growth

Index

Fund

and

Large-Cap

Value

Index

Fund

and

on

August

9,

2023

for

S&P

500

Index

Fund,

Class

W

for

each

Fund

became

dormant

and

is

therefore

not

currently

operational.

Market

Monitor

6

Stocks

gained

as

economy

grew

For

the

twelve

months

ended

October

31,

2023,

U.S.

stocks

generally

rose

amid

continued

economic

growth

driven

by

a

strong

labor

market

and

robust

consumer

spending.

The

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

advanced

8.4%.

International

developed-

and

emerging-markets

stocks

posted

larger

gains.

U.S.

economy

maintained

a

growth

trajectory

The

U.S.

economy

expanded

with

the

pace

of

growth

accelerating

late

in

the

twelve-month

period.

The

employment

market

remained

solid

and

consumer

spending

held

strong

despite

higher

interest

rates.

Real

gross

domestic

product

(GDP),

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

grew

at

an

annualized

rate

of

2.6%

in

the

fourth

quarter

of

2022.

GDP

expanded

by

2.2%

and

2.1%

in

the

first

and

second

quarters

of

2023,

respectively.

Growth

accelerated

to

4.9%

during

the

third

quarter

of

the

year,

according

to

the

government’s

“advance”

estimate.

The

unemployment

rate

increased

during

the

period,

rising

from

3.6%

(revised

from

3.7%)

in

November

2022

to

3.9%

in

October

2023.

The

rate

had

dipped

to

as

low

as

3.4%

in

both

January

and

April

of

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

in

October.

However,

core

inflation

receded

from

6.0%

where

it

began

the

period.

Oil

prices

fluctuated

but

ended

the

period

lower.

The

price

of

West

Texas

Intermediate

crude

oil

declined

from

$88

per

barrel

on

November

1,

2022,

to

less

than

$82

on

October

31,

2023.

Large-cap

and

growth

stocks

produced

the

best

returns

Among

U.S.

equity

investment

styles,

large-cap

shares

outperformed

mid-

and

small-cap

stocks,

while

growth

equities

outpaced

value

shares

in

all

size

categories.

Large-cap

stocks

gained

9.5%,

while

mid-cap

shares

returned

−1.0%,

and

small-

cap

equities

returned

−8.6%.

Among

large

caps,

growth

stocks

rose

19.0%,

and

value

shares

gained

a

modest

0.1%.

Within

the

mid-cap

segment,

growth

equities

advanced

3.4%,

while

value

stocks

returned

−3.6%.

In

the

small-cap

category,

growth

equities

returned

−7.6%,

and

value

stocks

returned

−9.9%.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

International

stocks

experienced

strong

gains

for

the

period.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

21

developed-markets

countries

outside

North

America,

gained

14.4%.

The

MSCI

Emerging

Markets

Index

advanced

10.8%.

Stocks

rose

despite

higher

interest

rates

For

the

twelve-month

period,

U.S.

equities

generally

gained

ground

amid

a

growing

economy.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

Major

economies

around

the

world

grew

during

the

period.

The

economy

of

the

19-nation

euro

area

expanded

for

four

straight

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew,

despite

concerns

over

the

nation’s

real

estate

sector.

Central

banks

continued

to

tighten

monetary

policies

with

a

series

of

rate

increases.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

Most

global

equities

posted

gains

Performance

for

the

twelve

months

ended

October

31,

2023

Source:

U.S.

small-cap

growth:

Russell

2000®

Growth

Index;

U.S.

small-cap

value:

Russell

2000

Value

Index;

U.S.

mid-cap

growth:

Russell

Midcap®

Growth

Index;

U.S.

mid-cap

value:

Russell

Midcap

Value

Index;

U.S.

large-cap

growth:

Russell

1000®

Growth

Index;

U.S.

large-cap

value:

Russell

1000

Value

Index;

Emerging

markets:

MSCI

Emerging

Markets

Index;

Foreign

developed

markets:

MSCI

EAFE®

Index.

Twelve-month

returns

as

of

October

31,

2023.

7

About

the

Funds’

Benchmarks

Broad

market

indexes

Russell

3000®

Index:

An

index

designed

to

measure

the

performance

of

the

stocks

of

the

3,000

largest

publicly

traded

U.S.

companies,

based

on

market

capitalization.

The

index

measures

the

performance

of

about

98%

of

the

total

market

capitalization

of

the

publicly

traded

U.S.

equity

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

MSCI

EAFE

®(

Europe,

Australasia,

Far

East)

Index:

An

index

designed

to

measure

the

performance

of

large

and

mid-cap

securities

across

21

developed

market

countries,

excluding

the

U.S.

and

Canada.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

MSCI

Emerging

Markets

Index:

An

index

designed

to

measure

the

performance

of

large

and

mid-cap

equity

securities

across

24

emerging

market

countries.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Large-cap

indexes

S&P

500®

Index:

An

index

generally

considered

representative

of

the

U.S.

equity

market.

The

index

includes

500

leading

companies

and

covers

approximately

80%

of

available

market

capitalization.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

1000®

Growth

Index:

An

index

designed

to

measure

the

performance

of

the

large-cap

growth

segment

of

the

U.S.

equity

universe.

It

includes

those

Russell

1000

companies

with

higher

price-to-book

ratios

and

higher

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

1000

Value

Index:

An

index

designed

to

measure

the

performance

of

the

large-cap

value

segment

of

the

U.S.

equity

universe.

It

includes

those

Russell

1000

companies

with

lower

price-to-book

ratios

and

lower

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Small-cap

index

Russell

2000®

Index:

An

index

designed

to

measure

the

performance

of

the

small-cap

segment

of

the

U.S.

equity

universe.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds’

latest

prospectus.

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

“LSE

Group”).

©

LSE

Group

2023.

FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

“FTSE®,”

“Russell®”

and

“FTSE

Russell®”

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company’s

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

MSCI

makes

no

express

or

implied

warranties

or

representations

and

shall

have

no

liability

whatsoever

with

respect

to

any

MSCI

data

contained

herein.

This

report

is

not

approved,

reviewed

or

produced

by

MSCI.

S&P

500

is

a

registered

trademark

and

service

mark

of

Standard

&

Poor’s

Financial

Services,

LLC,

a

division

of

S&P

Global.

Portfolio

Managers’

Comments

8

Equity

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Equity

Index

Fund returned

8.32%

for

the

Institutional

Class,

compared

with

the

8.38% return

of

its

benchmark,

the

Russell

3000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund’s

return

underperformed

that

of

its

benchmark

index

due

to

the

effect

of

expenses.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Gains

in

a

number

of

sectors

offset

losses

in

others

Five

of

the

eleven

industry

sectors

in

the

Russell

3000

Index

posted

gains

for

the

twelve

months.

Communication

services

and

information

technology—the

benchmark’s

largest

sector—were

the

clear

leaders,

surging

32.0%

and

30.3%,

respectively.

Consumer

discretionary,

industrials

and

materials,

which

climbed

7.8%,

5.8%

and

4.0%,

respectively,

were

the

other

positive

performers.

Together,

these

five

sectors

represented

more

than

one-half

of

the

index’s

total

market

capitalization

on

October

31,

2023.

The

utilities

and

real

estate

sectors,

which

tend

to

be

particularly

sensitive

to

rising

interest

rates,

were

the

worst

performers,

returning

−8.6%

and

−8.1%,

respectively.

Next

in

line

was

the

defensive

health

care

sector,

which

returned

−5.7%.

All

of

the

benchmark’s

five

largest

stocks

outperformed

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

3000

Index

registered

gains

that

surpassed

the

overall

return

of

the

benchmark.

Technology

company

NVIDIA

performed

especially

well,

lifted

by

a

wave

of

investment

in

artificial

intelligence

tools

that

drove

strong

demand

for

its

semiconductors.

Next

came

Microsoft,

which

reported

robust

growth

in

its

cloud-computing

business.

Alphabet

(the

parent

company

of

Google),

Amazon.com

and

Apple

also

outperformed

as

worries

that

higher

interest

rates

might

ultimately

slow

the

U.S.

economy

led

investors

to

favor

larger

companies

with

strong

balance

sheets.

Large-Cap

Growth

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Large-Cap

Growth

Index

Fund returned

18.86%

for

the

Institutional

Class,

compared

with

the

18.95% return

of

its

benchmark,

the

Russell

1000®

Growth

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund’s

return

underperformed

that

of

its

benchmark

index

due

to

the

effect

of

expenses.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

9

Portfolio

Managers’

Comments

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Information

technology

propelled

the

benchmark

higher

Seven

of

the

eleven

industry

sectors

in

the

Russell

1000

Growth

Index

posted

gains

for

the

twelve

months.

Information

technology—the

largest

sector,

representing

more

than

40.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023—advanced

35.1%

and

contributed

almost

three-quarters

of

the

index’s

return

for

the

period.

Communication

services

and

consumer

discretionary

gained

35.1%

and

12.6%,

respectively,

and

were

the

next-largest

contributors.

Together,

these

three

sectors

represented

nearly

65.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Utilities

and

real

estate,

which

are

sensitive

to

rising

interest

rates,

were

the

worst-performing

sectors,

returning

−13.2%

and

−5.8%,

respectively.

Four

of

the

benchmark’s

five

largest

stocks

outperformed

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

Russell

1000

Growth

Index

delivered

returns

that

exceeded

the

overall

return

of

the

index.

Technology

company

NVIDIA

led

the

way,

surging

on

robust

demand

for

its

semiconductors

that

perform

complex

artificial

intelligence

tasks.

Next

in

line

was

Microsoft,

followed

by

Alphabet

(the

parent

company

of

Google)

and

Amazon.com.

Apple

posted

a

double-digit

gain

but

lagged

the

index

as

weakness

in

iPhone

sales

tempered

strength

in

the

company’s

services

business.

Large-Cap

Value

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Large-Cap

Value

Index

Fund returned

0.09%

for

the

Institutional

Class,

compared

with

the

0.13% return

of

its

benchmark,

the

Russell

1000®

Value

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund’s

return

slightly

underperformed

that

of

its

benchmark

index

due

to

the

effect

of

expenses.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Gains

in

a

number

of

sectors

offset

losses

in

others

Four

of

the

eleven

industry

sectors

in

the

Russell

1000

Value

Index

posted

gains

for

the

twelve

months.

Communication

services

performed

best,

soaring

30.2%

and

making

the

largest

contribution

to

the

benchmark’s

return.

Information

technology,

industrials

and

materials

were

the

other

positive

performers,

gaining

11.9%,

6.6%

and

5.7%,

respectively.

Together,

these

four

sectors

accounted

for

almost

one-third

of

the

index’s

total

market

capitalization

on

October

31,

2023.

Health

care,

which

returned

−10.1%,

was

the

worst-performing

sector,

followed

by

real

estate

and

utilities,

which

returned

−8.1%

and

−8.0%,

respectively.

Financials—the

benchmark’s

largest

sector—was

more

resilient

but

still

weak

with

a

−3.4%

return,

pressured

by

concerns

about

banks’

long-term

profitability.

Portfolio

Managers’

Comments

(continued)

10

Three

of

the

benchmark’s

five

largest

stocks

outperformed

For

the

twelve-month

period,

three

of

the

five

largest

stocks

in

the

Russell

1000

Value

Index

produced

returns

that

exceeded

the

overall

return

of

the

index.

These

stocks

were

Berkshire

Hathaway,

Procter

&

Gamble

and

JPMorgan

Chase,

all

of

which

posted

double-digit

gains.

Berkshire

Hathaway

reported

improving

results

in

its

Geico

insurance

unit,

Procter

&

Gamble

benefited

from

price

increases

across

its

brand

portfolio,

and

JPMorgan

Chase

announced

four

quarters

of

better-than-

expected

earnings.

Johnson

&

Johnson

declined,

in

part

due

to

uncertainty

surrounding

product-liability

litigation.

Exxon

Mobil

also

posted

a

loss.

S&P

500

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

S&P

500

Index

Fund returned

10.09%

for

the

Institutional

Class,

compared

with

the

10.14% return

of

its

benchmark,

the

S&P

500®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund’s

return

slightly

underperformed

that

of

its

benchmark

index

due

to

the

effect

of

expenses.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

large-cap-oriented

S&P

500

Index

outperformed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

A

portion

of

the

Russell

3000

Index

consists

of

small-cap

equities,

which

underperformed

large

caps

for

the

period.

Gains

in

a

number

of

sectors

offset

losses

in

others

Five

of

the

eleven

industry

sectors

in

the

S&P

500

Index

posted

gains

for

the

twelve

months.

Communication

services

and

information

technology—the

benchmark’s

largest

sector—were

the

clear

leaders,

surging

35.8%

and

29.3%,

respectively.

Consumer

discretionary,

industrials

and

materials,

which

climbed

6.7%,

6.0%

and

4.8%,

respectively,

were

the

other

positive

performers.

Together,

these

five

sectors

represented

more

than

60.0%

of

the

index’s

total

market

capitalization

on

October

31,

2023.

The

utilities

and

real

estate

sectors,

which

tend

to

be

particularly

sensitive

to

rising

interest

rates,

were

the

worst

performers,

returning

−7.7%

and

−6.4%,

respectively.

Next

in

line

was

the

defensive

health

care

sector,

which

returned

−4.6%.

All

of

the

benchmark’s

five

largest

stocks

outperformed

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

S&P

500

Index

registered

gains

that

surpassed

the

overall

return

of

the

benchmark.

Technology

company

NVIDIA

performed

especially

well,

lifted

by

a

wave

of

investment

in

artificial

intelligence

tools

that

drove

strong

demand

for

its

semiconductors.

Next

came

Microsoft,

which

reported

robust

growth

in

its

cloud-computing

business.

Alphabet

(the

parent

company

of

Google),

Amazon.com

and

Apple

also

outperformed

as

worries

that

higher

interest

rates

might

ultimately

slow

the

U.S.

economy

led

investors

to

favor

larger

companies

with

strong

balance

sheets.

Small-Cap

Blend

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Small-Cap

Blend

Index

Fund returned

-8.43%

for

the

Institutional

Class,

compared

with

the

-8.56% return

of

its

benchmark,

the

Russell

2000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund’s

return

outperformed

that

of

its

benchmark

index,

despite

the

effect

of

expenses.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

During

the

twelve

months,

the

Fund

participated

in

a

securities

lending

program.

11

Portfolio

Managers’

Comments

Most

U.S.

stocks

advanced

as

the

economy

expanded

The

U.S.

economy

expanded

during

the

period

with

the

pace

of

growth

accelerating

during

the

third

quarter

of

2023.

Continued

strength

in

the

labor

market

and

robust

consumer

spending

helped

drive

economic

growth,

despite

rising

interest

rates

and

ongoing

concerns

over

inflation.

The

unemployment

rate

edged

higher

by

the

end

of

the

period,

increasing

to

3.9%

in

October

2023.

Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

4.0%

for

the

twelve

months

ended

October

31,

2023.

Oil

prices

fluctuated

but

ended

the

period

lower.

Equity

markets

posted

mostly

positive

results,

although

small-

and

mid-cap

stocks

generally

struggled

during

the

period.

The

Federal

Reserve

responded

to

elevated

inflation

by

raising

the

federal

funds

target

rate

in

July

to

a

22-year

high

of

5.25%–

5.50%.

Late

in

the

period,

policymakers

voted

to

leave

rates

unchanged

but

reaffirmed

the

possibility

of

one

more

hike

before

the

end

of

the

year.

For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

gained

8.38%.

Large-cap

equities

outperformed

small-

and

mid-cap

shares,

both

of

which

lost

ground.

Growth

stocks

outpaced

value

shares.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Eight

of

the

eleven

industry

sectors

in

the

Russell

2000

Index

posted

losses

for

the

twelve

months.

Health

care

and

financials—the

index’s

largest

sector—were

the

worst

performers

with

returns

of

−21.8%

and

−16.8%,

respectively,

and

detracted

most

from

the

index’s

performance.

Utilities,

communication

services

and

real

estate

also

registered

double-digit

losses,

returning

−16.4%,

−15.4%

and

−10.8%,

respectively.

Together,

these

five

sectors

represented

more

than

40.0%

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Energy,

which

gained

6.3%,

was

the

best-performing

sector.

Consumer

staples

and

industrials

were

the

other

positive

performers,

advancing

0.9%

and

0.3%,

respectively.

All

of

the

benchmark’s

five

largest

stocks

outperformed

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

2000

Index

surpassed

the

overall

return

of

the

benchmark.

Technology

firm

Super

Micro

Computer

was

the

clear

winner,

delivering

an

outsized

gain

amid

robust

sales

of

its

dedicated

artificial

intelligence

servers.

Next

came

entertainment

company

Light

&

Wonder

and

Chord

Energy,

which

both

posted

strong—albeit

less

dramatic—gains.

Energy

producers

Matador

Resources

and

Murphy

Oil

registered

losses

but

were

more

resilient

than

the

index.

Emerging

Markets

Equity

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Emerging

Markets

Equity

Index

Fund returned

10.52%

for

the

Institutional

Class,

compared

with

the

10.80% return

of

its

benchmark,

the

MSCI

Emerging

Markets

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund’s

return

underperformed

that

of

its

benchmark

index

due

to

the

effect

of

expenses.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

International

stocks

rose

amid

continued

economic

growth,

higher

rates

Foreign

stocks

in

both

developed-

and

emerging-markets

countries

advanced

for

the

period

as

major

economies

around

the

world

grew.

The

economy

of

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2022

and

in

each

of

the

following

three

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew

throughout

the

period,

despite

the

real

estate

segment

receding.

Global

central

banks

spent

much

of

the

twelve-month

period

tightening

monetary

policy

in

response

to

elevated

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

in

July

2023

to

a

22-year

high

of

5.25%–5.50%,

and

policymakers

indicated

that

further

action

was

possible.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

21

developed-markets

nations

outside

North

America,

gained

14.40%

for

the

period,

outpacing

the

return

of

the

MSCI

Emerging

Markets

Index.

Both

indexes

surpassed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Portfolio

Managers’

Comments

(continued)

12

Most

countries

in

the

benchmark

advanced

Of

the

24

country

components

in

the

MSCI

Emerging

Markets

Index,

most

posted

gains

in

U.S.-dollar

terms

for

the

twelve

months.

Poland

performed

best,

rising

59.5%.

Taiwan,

the

third-largest

index

component,

returned

26.2%.

China,

the

largest

index

component,

returned

21.1%,

while

South

Korea,

the

fourth-largest

index

component,

returned

8.3%.

Together,

these

four

countries

accounted

for

more

than

one-half

of

the

index’s

total

market

capitalization

on

October

31,

2023.

Qatar

was

the

worst

performer

with

a

loss

of

–21.3%.

Four

of

the

benchmark’s

five

largest

stocks

outperformed

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

MSCI

Emerging

Markets

Index

had

performance

that

exceeded

the

benchmark’s

overall

return.

Chinese

internet

firm

Tencent

Holdings

posted

a

sizable

double-digit

return.

Taiwan

Semiconductor

Manufacturing,

internet

retailer

Alibaba

Group

Holding

and

Samsung

Electronics

were

next

in

line

with

strong

gains.

Multinational

conglomerate

Reliance

Industries

posted

a

loss,

hurt

by

a

decline

in

oil

prices,

and

trailed

the

index.

The

Fund’s

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund’s

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund’s

net

asset

value

(NAV)

is

calculated

(see

the

Fund’s

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund’s

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund’s

portfolio

holdings

at

the

time

the

Fund’s

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

International

Equity

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

International

Equity

Index

Fund returned

15.34%

for

the

Institutional

Class,

compared

with

the

14.40% return

of

its

benchmark,

the

MSCI

EAFE®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund’s

return

substantially

outperformed

that

of

its

benchmark

index,

despite

the

effect

of

expenses.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

International

stocks

rose

amid

continued

economic

growth,

higher

rates

Foreign

stocks

in

both

developed-

and

emerging-markets

countries

advanced

for

the

period

as

major

economies

around

the

world

grew.

The

economy

of

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2022

and

in

each

of

the

following

three

quarters,

on

a

year-over-year

basis.

China’s

economy

also

grew

throughout

the

period,

despite

the

real

estate

segment

receding.

Global

central

banks

spent

much

of

the

twelve-month

period

tightening

monetary

policy

in

response

to

elevated

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

in

July

2023

to

a

22-year

high

of

5.25%–5.50%,

and

policymakers

indicated

that

further

action

was

possible.

The

European

Central

Bank

raised

its

three

key

benchmark

rates

to

4.50%,

4.75%

and

4.00%

in

September,

and

the

Bank

of

England

increased

its

benchmark

rate

to

5.25%

during

the

period.

The

MSCI

EAFE

Index,

which

measures

stock

performance

in

21

developed-markets

nations

outside

North

America,

outperformed

the

10.80%

advance

of

the

MSCI

Emerging

Markets

Index

for

the

period.

Both

indexes

surpassed

the

8.38%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Most

countries

in

the

benchmark

advanced

Most

of

the

countries

in

the

MSCI

EAFE

Index

posted

gains

in

U.S.-dollar

terms

for

the

twelve

months.

The

largest

index

components

were

Japan

(22.9%),

the

United

Kingdom

(15.3%)

and

France

(12.1%),

returning

16.8%,

12.9%

and

18.2%,

respectively.

Collectively,

these

three

nations

represented

more

than

one-half

of

the

benchmark’s

total

market

capitalization

on

October

31,

2023.

Israel

was

the

worst

performer,

returning

–18.0%.

Three

of

the

benchmark’s

five

largest

stocks

outperformed

For

the

twelve-month

period,

three

of

the

five

largest

stocks

in

the

MSCI

EAFE

Index

exceeded

the

benchmark’s

overall

return.

Global

health

care

company

Novo

Nordisk

performed

best

with

a

strong

double-digit

gain,

followed

by

Dutch

semiconductor

firm

ASML

Holding

and

Shell.

French

luxury

goods

conglomerate

LVMH

only

slightly

trailed

the

index’s

return

in

U.S.-dollar

terms,

while

Nestlé

posted

a

loss

in

local

currency

terms

and

only

a

small

U.S.

dollar

gain.

The

Fund’s

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund’s

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

13

Portfolio

Managers’

Comments

Many

foreign

exchanges

close

for

trading

before

the

Fund’s

net

asset

value

(NAV)

is

calculated

(see

the

Fund’s

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund’s

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund’s

portfolio

holdings

at

the

time

the

Fund’s

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

Equity

Index

Fund

14

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$10,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Equity

Index

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

7/1/99

8.32%

10.20%

10.49%

0.05%

0.05%

Advisor

Class

12/4/15

8.25

10.07

10.41

†

0.15

0.15

Premier

Class

9/30/09

8.18

10.04

10.32

0.20

0.20

Retirement

Class

3/31/06

8.05

9.92

10.22

0.30

0.30

Retail

Class

3/31/06

8.05

9.90

10.19

0.32

0.32

Class

W

9/28/18

8.40

10.24

10.52

†

0.05

0.00

Russell

3000®

Index

–

8.38

10.23

10.52

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

15

Equity

Index

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

36.12

billion

Portfolio

turnover

rate

4%

Number

of

holdings

2,777

Weighted

median

market

capitalization

$127.14

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

23.3

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

26.5

Financials

13.3

Health

care

13.0

Consumer

discretionary

10.4

Industrials

9.7

Communication

services

8.0

Consumer

staples

6.2

Energy

4.7

Materials

2.7

Real

estate

2.7

Utilities

2.4

Short-term

investments

0.4

Investments

purchased

with

collateral

from

securities

lending

0.3

Other

assets

&

liabilities,

net

-0.3

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

68.7

More

than

$15

billion-$50

billion

17.1

More

than

$2

billion-$15

billion

12.0

$2

billion

or

less

2.2

Total

100.0

Large-Cap

Growth

Index

Fund

16

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$10,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Large-Cap

Growth

Index

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

18

.86

%

14

.14

%

13

.75

%

0

.05

%

0

.05

%

Advisor

Class

12/4/15

18

.74

14

.01

13

.65

†

0

.16

0

.16

Retirement

Class

10/1/02

18

.58

13

.86

13

.47

0

.30

0

.30

Russell

1000®

Growth

Index

–

18

.95

14

.22

13

.82

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

17

Large-Cap

Growth

Index

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

10.53

billion

Portfolio

turnover

rate

32%

Number

of

holdings

447

Weighted

median

market

capitalization

$500.21

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

32.0

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

43.1

Consumer

discretionary

15.5

Communication

services

11.3

Health

care

11.1

Financials

6.7

Industrials

5.8

Consumer

staples

4.4

Real

estate

0.8

Materials

0.7

Energy

0.6

Utilities

0.0

Short-term

investments

0.0

Investments

purchased

with

collateral

from

securities

lending

0.0

Other

assets

&

liabilities,

net

0.0

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

84.8

More

than

$15

billion-$50

billion

11.1

More

than

$2

billion-$15

billion

4.1

Total

100.0

Large-Cap

Value

Index

Fund

18

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$10,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Large-Cap

Value

Index

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

0

.09

%

6

.57

%

7

.56

%

0

.05

%

0

.05

%

Advisor

Class

12/4/15

-

0

.04

6

.43

7

.45

†

0

.19

0

.19

Retirement

Class

10/1/02

-

0

.13

6

.31

7

.29

0

.30

0

.30

Russell

1000®

Value

Index

–

0

.13

6

.60

7

.60

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

19

Large-Cap

Value

Index

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

7.98

billion

Portfolio

turnover

rate

26%

Number

of

holdings

848

Weighted

median

market

capitalization

$73.42

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

16.9

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Financials

21.5

Health

care

15.0

Industrials

13.2

Information

technology

8.9

Energy

8.9

Consumer

staples

8.5

Utilities

5.1

Materials

4.9

Communication

services

4.8

Consumer

discretionary

4.6

Real

estate

4.5

Short-term

investments

0.1

Investments

purchased

with

collateral

from

securities

lending

0.2

Other

assets

&

liabilities,

net

-0.2

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

57.6

More

than

$15

billion-$50

billion

26.8

More

than

$2

billion-$15

billion

15.5

$2

billion

or

less

0.1

Total

100.0

S&P

500

Index

Fund

20

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$10,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

S&P

500

Index

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

10

.09

%

10

.96

%

11

.11

%

0

.05

%

0

.05

%

Advisor

Class

12/4/15

9

.95

10

.81

11

.01

†

0

.18

0

.18

Retirement

Class

10/1/02

9

.80

10

.69

10

.84

0

.30

0

.30

S&P

500®

Index

–

10

.14

11

.01

11

.18

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

21

S&P

500

Index

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

7.84

billion

Portfolio

turnover

rate

2%

Number

of

holdings

509

Weighted

median

market

capitalization

$183.34

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

22.1

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Information

technology

27.9

Health

care

13.0

Financials

12.7

Consumer

discretionary

10.5

Communication

services

8.6

Industrials

8.3

Consumer

staples

6.6

Energy

4.5

Utilities

2.5

Materials

2.4

Real

estate

2.3

Short-term

investments

0.7

Investments

purchased

with

collateral

from

securities

lending

0.0

Other

assets

&

liabilities,

net

0.0

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

79.0

More

than

$15

billion-$50

billion

17.4

More

than

$2

billion-$15

billion

3.6

Total

100.0

Small-Cap

Blend

Index

Fund

22

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$10,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Small-Cap

Blend

Index

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

-

8

.43

%

3

.42

%

5

.80

%

0

.06

%

0

.06

%

Advisor

Class

12/4/15

-

8

.56

3

.27

5

.70

†

0

.67

0

.21

Retirement

Class

10/1/02

-

8

.62

3

.17

5

.54

0

.31

0

.31

Russell

2000®

Index

–

-

8

.56

3

.31

5

.63

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

23

Small-Cap

Blend

Index

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2023

Net

assets

$

2.79

billion

Portfolio

turnover

rate

16%

Number

of

holdings

1,975

Weighted

median

market

capitalization

$2.35

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

56.9

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Industrials

17.0

Financials

16.5

Health

care

14.3

Information

technology

12.8

Consumer

discretionary

10.5

Energy

8.7

Real

estate

6.1

Materials

4.4

Consumer

staples

3.7

Utilities

3.0

Communication

services

2.4

Short-term

investments

0.5

Investments

purchased

with

collateral

from

securities

lending

3.6

Other

assets

&

liabilities,

net

-3.5

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$2

billion-$15

billion

58.1

$2

billion

or

less

41.9

Total

100.0

Emerging

Markets

Equity

Index

Fund

24

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$10,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Emerging

Markets

Equity

Index

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

8/31/10

10

.52

%

1

.34

%

1

.04

%

0

.19

%

0

.19

%

Advisor

Class

12/4/15

10

.32

1

.20

0

.95

†

0

.33

0

.33

Premier

Class

8/31/10

10

.39

1

.20

0

.89

0

.34

0

.34

Retirement

Class

8/31/10

10

.19

1

.10

0

.79

0

.44

0

.44

Retail

Class

8/31/10

10

.20

0

.99

0

.68

0

.53

0

.53

Class

W

9/28/18

10

.69

1

.54

1

.14

†

0

.19

0

.00

MSCI

Emerging

Markets

Index

–

10

.80

1

.59

1

.19

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

25

Emerging

Markets

Equity

Index

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2023

Net

assets

$

5.22

billion

Portfolio

turnover

rate

14%

Number

of

holdings

1,439

Weighted

median

market

capitalization

$27.47

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

13.2

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Financials

22.4

Information

technology

20.3

Consumer

discretionary

13.1

Communication

services

9.2

Materials

7.1

Consumer

staples

6.5

Industrials

5.7

Energy

5.5

Health

care

4.1

Utilities

2.9

Real

estate

1.6

Short-term

investments

1.6

Investments

purchased

with

collateral

from

securities

lending

0.1

Other

assets

&

liabilities,

net

-0.1

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

33.5

More

than

$15

billion-$50

billion

27.7

More

than

$2

billion-$15

billion

37.7

$2

billion

or

less

1.1

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

China

29.2

India

15.6

Taiwan

14.7

Korea,

Republic

of

11.6

Brazil

5.3

Saudi

Arabia

4.1

South

Africa

2.8

Mexico

2.5

Thailand

1.9

Indonesia

1.9

20

other

nations

8.7

Short-term

investments

1.6

Investments

purchased

with

collateral

from

securities

lending

0.1

Total

100.0

International

Equity

Index

Fund

26

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$10,000,000

over

10

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

International

Equity

Index

Fund

Inception

date

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

15.34%

4.38%

3.27%

0.05%

0.05%

Advisor

Class

12/4/15

15.24

4.26

3.18

†

0.17

0.17

Premier

Class

9/30/09

15.21

4.23

3.12

0.20

0.20

Retirement

Class

10/1/02

15.09

4.12

3.01

0.30

0.30

Class

W

9/28/18

15.45

4.44

3.30

†

0.05

0.00

MSCI

EAFE®

Index

–

14.40

4.10

3.05

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

27

International

Equity

Index

Fund

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2023

Net

assets

$

20.02

billion

Portfolio

turnover

rate

8%

Number

of

holdings

814

Weighted

median

market

capitalization

$46.58

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

12.2

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

%

of

net

assets

as

of

10/31/2023

Financials

18.8

Industrials

16.2

Health

care

12.8

Consumer

discretionary

11.9

Consumer

staples

9.5

Information

technology

7.6

Materials

7.3

Energy

4.9

Utilities

3.9

Communication

services

3.7

Real

estate

1.8

Short-term

investments

0.9

Investments

purchased

with

collateral

from

securities

lending

0.5

Other

assets

&

liabilities,

net

0.2

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

10/31/2023

More

than

$50

billion

46.9

More

than

$15

billion-$50

billion

32.9

More

than

$2

billion-$15

billion

20.2

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

Japan

22.7

United

Kingdom

11.2

France

10.3

Germany

8.1

Australia

7.6

United

States

6.9

Switzerland

6.1

Netherlands

5.6

Denmark

3.4

Sweden

2.8

22

other

nations

13.9

Short-term

investments

0.9

Investments

purchased

with

collateral

from

securities

lending

0.5

Total

100.0

Expense

Examples

28

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

examples

that

appear

in

this

report

are

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

do

not

reflect

transactional

costs.

The

examples

are

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

funds

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

reinvested

dividends

or

other

distributions.

The

examples

are

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

six-month

period

and

held

for

the

entire

period

(

May

1,

2023

–

October

31,

2023

).

Actual

expenses

The

first

section

in

each

table

uses

the

Fund’s

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

together

with

the

amount

you

invested,

to

estimate

the

expenses

that

you

paid

over

the

six-month

period.

Simply

divide

your

account

value

by

$1,000

(for

example,

an

$8,600

account

value

divided

by

$1,000

=

8.6),

then

multiply

the

result

by

the

number

in

the

first

line

under

the

heading

“Expenses

incurred

during

the

period”

to

estimate

the

expenses

you

paid

during

the

six-month

period.

Some

funds

have

a

contractual

fee

reimbursement.

Had

these

not

been

in

effect,

fund

expenses

would

have

been

higher.

Hypothetical

example

for

comparison

purposes

The

second

section

in

each

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund’s

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class’

actual

return.

This

hypothetical

example

cannot

be

used

to

estimate

the

actual

expenses

you

paid

for

the

period,

but

rather

allows

you

to

compare

the

ongoing

costs

of

investing

in

the

Fund

with

the

costs

of

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

other

mutual

funds.

4.1

Equity

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,009.52

$1,009.18

$1,009.21

$1,008.37

$1,008.34

$1,009.86

Expenses

incurred

during

the

period*

$0.23

$0.76

$0.99

$1.50

$1.63

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.97

$1,024.45

$1,024.22

$1,023.71

$1,023.58

$1,025.20

Expenses

incurred

during

the

period*

$0.23

$0.76

$1.00

$1.51

$1.65

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.15%

for

Advisor

Class,

0.20%

for

Premier

Class,

0.30%

for

Retirement

Class,

0.32%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

29

4.2

Large-Cap

Growth

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,066.14

$1,065.54

$1,065.11

Expenses

incurred

during

the

period*

$0.26

$0.83

$1.56

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.95

$1,024.40

$1,023.69

Expenses

incurred

during

the

period*

$0.26

$0.81

$1.53

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-

month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.16%

for

Advisor

Class

and

0.30%

for

Retirement

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.3

Large-Cap

Value

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$957.81

$956.97

$956.45

Expenses

incurred

during

the

period*

$0.24

$0.87

$1.48

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.96

$1,024.32

$1,023.70

Expenses

incurred

during

the

period*

$0.25

$0.90

$1.53

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-

month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.18%

for

Advisor

Class

and

0.30%

for

Retirement

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.4

S&P

500

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,013.79

$1,012.93

$1,012.35

Expenses

incurred

during

the

period*

$0.24

$0.91

$1.51

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.96

$1,024.30

$1,023.70

Expenses

incurred

during

the

period*

$0.24

$0.92

$1.52

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-

month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.18%

for

Advisor

Class

and

0.30%

for

Retirement

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

Examples

(continued)

30

4.5

Small-Cap

Blend

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$947.13

$947.03

$946.41

Expenses

incurred

during

the

period*

$0.27

$1.00

$1.49

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.93

$1,024.18

$1,023.67

Expenses

incurred

during

the

period*

$0.28

$1.04

$1.55

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-

month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.20%

for

Advisor

Class

and

0.30%

for

Retirement

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.6

Emerging

Markets

Equity

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$946.80

$946.95

$946.64

$945.54

$945.65

$947.89

Expenses

incurred

during

the

period*

$0.75

$1.43

$1.47

$1.97

$2.43

$0.00

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.44

$1,023.74

$1,023.69

$1,023.18

$1,022.70

$1,025.21

Expenses

incurred

during

the

period*

$0.78

$1.49

$1.53

$2.05

$2.53

$0.00

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.15%

for

Institutional

Class,

0.29%

for

Advisor

Class,

0.30%

for

Premier

Class,

0.40%

for

Retirement

Class,

0.50%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.7

International

Equity

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$926.79

$926.22

$926.19

$925.40

$927.30

Expenses

incurred

during

the

period*

$0.25

$0.94

$0.98

$1.46

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.95

$1,024.23

$1,024.19

$1,023.69

$1,025.20

Expenses

incurred

during

the

period*

$0.26

$0.98

$1.03

$1.54

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.19%

for

Advisor

Class,

0.20%

for

Premier

Class,

0.30%

for

Retirement

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Report

of

Independent

Registered

Public

Accounting

Firm

31

To

the

Board

of

Trustees

of

TIAA-CREF

Funds

and

Shareholders

of

TIAA-CREF

Equity

Index

Fund,

TIAA-CREF

Large-Cap

Growth

Index

Fund,

TIAA-CREF

Large-Cap

Value

Index

Fund,

TIAA-CREF

S&P

500

Index

Fund,

TIAA-CREF

Small-Cap

Blend

Index

Fund,

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

and

TIAA-CREF

International

Equity

Index

Fund

Opinions

on

the

Financial

Statements

We

have

audited

the

accompanying

statements

of

assets

and

liabilities,

including

the

portfolios

of

investments,

of

TIAA-CREF

Equity

Index

Fund,

TIAA-CREF

Large-Cap

Growth

Index

Fund,

TIAA-CREF

Large-Cap

Value

Index

Fund,

TIAA-CREF

S&P

500

Index

Fund,

TIAA-

CREF

Small-Cap

Blend

Index

Fund,

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

and

TIAA-CREF

International

Equity

Index

Fund

(seven

of

the

funds

constituting

TIAA-CREF

Funds,

hereafter

collectively

referred

to

as

the

"Funds")

as

of

October

31,

2023,

the

related

statements

of

operations

for

the

year

ended

October

31,

2023,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2023

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

as

of

October

31,

2023,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023

and

each

of

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2023

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

of

the

Funds’

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds’

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2023

by

correspondence

with

the

custodian

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/PricewaterhouseCoopers

LLP

Charlotte,

North

Carolina

December

21,

2023

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

TIAA-CREF

Funds’

investment

company

group

since

2005.

Equity

Index

Fund

October

31,

2023

Portfolios

of

Investments

32

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.6%

COMMON

STOCKS

-

99.6%

AUTOMOBILES

&

COMPONENTS

-

1

.8

%

102,643

(a)

Adient

plc

$

3,458,043‌

82,911

(a)

American

Axle

&

Manufacturing

Holdings,

Inc

559,649‌

238,352

(a)

Aptiv

plc

20,784,295‌

204,944

BorgWarner,

Inc

7,562,434‌

27,933

(a)

Cooper-Standard

Holdings,

Inc

346,928‌

107,715

Dana

Inc

1,236,568‌

20,044

(a)

Dorman

Products,

Inc

1,246,336‌

116,037

(a),(b)

Fisker,

Inc

522,167‌

3,472,167

Ford

Motor

Co

33,853,628‌

40,428

(a)

Fox

Factory

Holding

Corp

3,293,669‌

1,197,622

General

Motors

Co

33,772,940‌

218,002

Gentex

Corp

6,252,297‌

25,155

(a)

Gentherm,

Inc

1,011,734‌

275,187

(a)

Goodyear

Tire

&

Rubber

Co

3,274,725‌

127,748

Harley-Davidson,

Inc

3,430,034‌

110,804

(a),(b)

Holley,

Inc

470,917‌

18,139

LCI

Industries

1,967,900‌

51,928

Lear

Corp

6,738,177‌

640,885

(a),(b)

Lucid

Group,

Inc

2,640,446‌

194,312

(a),(b)

Luminar

Technologies,

Inc

615,969‌

59,956

(a)

Modine

Manufacturing

Co

2,368,262‌

16,988

Patrick

Industries,

Inc

1,276,648‌

40,988

Phinia,

Inc

1,060,770‌

251,662

(a),(b)

QuantumScape

Corp

1,313,676‌

576,192

(a),(b)

Rivian

Automotive,

Inc

9,345,834‌

217,401

(a),(b)

Solid

Power,

Inc

286,969‌

15,934

Standard

Motor

Products,

Inc

556,575‌

19,766

(a)

Stoneridge,

Inc

321,593‌

2,442,962

(a)

Tesla,

Inc

490,644,488‌

41,295

Thor

Industries,

Inc

3,631,069‌

28,194

(a)

Visteon

Corp

3,245,975‌

23,560

Winnebago

Industries,

Inc

1,365,302‌

177,385

(a),(b)

Workhorse

Group,

Inc

73,987‌

21,842

(a)

XPEL,

Inc

1,011,285‌

TOTAL

AUTOMOBILES

&

COMPONENTS

649,541,289‌

BANKS

-

3

.3

%

18,633

1st

Source

Corp

850,037‌

14,723

Amalgamated

Financial

Corp

268,548‌

25,834

Amerant

Bancorp,

Inc

470,954‌

4,611

American

National

Bankshares,

Inc

175,956‌

48,454

Ameris

Bancorp

1,807,334‌

27,215

Arrow

Financial

Corp

579,952‌

156,553

Associated

Banc-Corp

2,537,724‌

85,111

Atlantic

Union

Bankshares

Corp

2,452,048‌

44,566

(a)

Axos

Financial,

Inc

1,605,713‌

50,744

(b)

Banc

of

California,

Inc

568,840‌

24,715

Bancfirst

Corp

2,004,634‌

37,392

(a)

Bancorp,

Inc

1,333,025‌

7,985

(b)

Bank

First

Corp

630,575‌

6,143,102

Bank

of

America

Corp

161,809,307‌

34,424

(b)

Bank

of

Hawaii

Corp

1,700,201‌

6,575

Bank

of

Marin

Bancorp

110,460‌

39,774

Bank

of

NT

Butterfield

&

Son

Ltd

1,004,691‌

90,703

Bank

OZK

3,248,074‌

33

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

79,459

BankUnited,

Inc

$

1,733,001‌

41,073

Banner

Corp

1,733,691‌

12,845

Bar

Harbor

Bankshares

321,382‌

16,293

BCB

Bancorp,

Inc

167,492‌

43,571

Berkshire

Hills

Bancorp,

Inc

854,427‌

12,822

Blue

Ridge

Bankshares,

Inc

40,389‌

37,887

BOK

Financial

Corp

2,482,356‌

15,598

(a)

Bridgewater

Bancshares,

Inc

150,209‌

67,439

Brookline

Bancorp,

Inc

548,953‌

19,568

Business

First

Bancshares,

Inc

382,359‌

25,800

Byline

Bancorp,

Inc

489,426‌

143,139

Cadence

Bank

3,031,684‌

4,978

Cambridge

Bancorp

267,368‌

11,105

Camden

National

Corp

323,822‌

191

Capital

Bancorp,

Inc

3,904‌

4,521

Capital

City

Bank

Group,

Inc

129,165‌

105,986

Capitol

Federal

Financial,

Inc

551,127‌

21,038

Capstar

Financial

Holdings,

Inc

319,357‌

15,958

(a)

Carter

Bankshares,

Inc

179,687‌

82,639

Cathay

General

Bancorp

2,802,289‌

16,021

Central

Pacific

Financial

Corp

252,811‌

1,720,087

Citigroup,

Inc

67,926,236‌

5,190

Citizens

&

Northern

Corp

93,939‌

453,649

Citizens

Financial

Group,

Inc

10,628,996‌

13,280

City

Holding

Co

1,205,558‌

5,750

Civista

Bancshares,

Inc

83,835‌

7,874

CNB

Financial

Corp

143,149‌

14,705

(a)

Coastal

Financial

Corp

546,585‌

167,425

Columbia

Banking

System,

Inc

3,293,250‌

27,831

(a)

Columbia

Financial,

Inc

448,079‌

99,964

Comerica,

Inc

3,938,582‌

111,019

Commerce

Bancshares,

Inc

4,869,293‌

60,022

Community

Bank

System,

Inc

2,397,879‌

14,068

Community

Trust

Bancorp,

Inc

528,394‌

32,974

ConnectOne

Bancorp,

Inc

537,146‌

32,218

(a)

CrossFirst

Bankshares,

Inc

340,866‌

46,800

Cullen/Frost

Bankers,

Inc

4,258,332‌

32,680

(a)

Customers

Bancorp,

Inc

1,314,063‌

139,451

CVB

Financial

Corp

2,178,225‌

28,972

Dime

Community

Bancshares,

Inc

532,795‌

26,137

Eagle

Bancorp,

Inc

509,149‌

126,261

East

West

Bancorp,

Inc

6,770,115‌

133,594

Eastern

Bankshares,

Inc

1,470,870‌

5,234

Enterprise

Bancorp,

Inc

137,707‌

28,968

Enterprise

Financial

Services

Corp

1,007,217‌

11,154

Equity

Bancshares,

Inc

269,927‌

8,510

Esquire

Financial

Holdings,

Inc

389,758‌

9,389

(b)

Farmers

&

Merchants

Bancorp,

Inc

163,556‌

11,812

Farmers

National

Banc

Corp

133,357‌

34,406

FB

Financial

Corp

1,010,504‌

587,078

Fifth

Third

Bancorp

13,919,619‌

8,770

Financial

Institutions,

Inc

138,917‌

24,700

First

Bancorp

716,794‌

158,461

First

BanCorp

2,115,454‌

7,604

First

Bancorp,

Inc

178,162‌

14,763

First

Bancshares,

Inc

357,560‌

588

First

Bank

6,503‌

38,527

First

Busey

Corp

765,146‌

8,793

First

Business

Financial

Services,

Inc

269,945‌

9,761

First

Citizens

Bancshares,

Inc

(Class

A)

13,477,403‌

135,088

First

Commonwealth

Financial

Corp

1,645,372‌

14,032

First

Community

Bancshares,

Inc

458,145‌

73,937

First

Financial

Bancorp

1,367,835‌

Equity

Index

Fund

October

31,

2023

34

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

112,033

First

Financial

Bankshares,

Inc

$

2,694,394‌

4,322

First

Financial

Corp

148,720‌

113,382

First

Foundation,

Inc

514,754‌

135,411

First

Hawaiian,

Inc

2,427,919‌

541,440

First

Horizon

National

Corp

5,820,480‌

96,845

First

Interstate

BancSystem,

Inc

2,234,214‌

47,027

First

Merchants

Corp

1,284,307‌

12,091

First

Mid

Bancshares,

Inc

330,326‌

12,529

First

of

Long

Island

Corp

134,561‌

9,917

(a)

First

Western

Financial,

Inc

132,590‌

15,276

Five

Star

Bancorp

297,424‌

42,707

Flushing

Financial

Corp

527,004‌

325,156

FNB

Corp

3,475,918‌

194,217

Fulton

Financial

Corp

2,522,879‌

19,386

(a),(b)

FVCBankcorp,

Inc

211,695‌

19,355

German

American

Bancorp,

Inc

528,972‌

101,511

Glacier

Bancorp,

Inc

3,064,617‌

7,132

(b)

Great

Southern

Bancorp,

Inc

354,603‌

11,967

(b)

Greene

County

Bancorp,

Inc

283,618‌

5,058

Guaranty

Bancshares,

Inc

144,305‌

70,171

Hancock

Whitney

Corp

2,415,988‌

29,083

Hanmi

Financial

Corp

426,938‌

39,598

HarborOne

Bancorp,

Inc

389,644‌

7,219

HBT

Financial,

Inc

129,942‌

34,542

Heartland

Financial

USA,

Inc

946,451‌

55,657

Heritage

Commerce

Corp

455,274‌

28,290

Heritage

Financial

Corp

460,278‌

46,898

Hilltop

Holdings,

Inc

1,295,323‌

1,692

(b)

Hingham

Institution

For

Savings

The

251,397‌

2,890

(b)

Home

Bancorp,

Inc

99,040‌

183,082

Home

Bancshares,

Inc

3,744,027‌

77,357

HomeStreet,

Inc

373,634‌

8,226

HomeTrust

Bancshares,

Inc

169,538‌

99,262

Hope

Bancorp,

Inc

869,535‌

37,769

Horizon

Bancorp,

Inc

358,428‌

1,192,416

Huntington

Bancshares,

Inc

11,506,814‌

41,058

Independent

Bank

Corp

2,003,630‌

16,001

Independent

Bank

Corp

319,220‌

27,575

Independent

Bank

Group,

Inc

974,776‌

63,589

International

Bancshares

Corp

2,787,106‌

10,716

(b)

John

Marshall

Bancorp,

Inc

196,960‌

2,557,962

JPMorgan

Chase

&

Co

355,710,196‌

62,205

Kearny

Financial

Corp

431,703‌

839,749

Keycorp

8,582,235‌

54,549

Lakeland

Bancorp,

Inc

615,313‌

19,759

Lakeland

Financial

Corp

973,131‌

23,057

Live

Oak

Bancshares,

Inc

665,194‌

629

Luther

Burbank

Corp

5,120‌

148,957

M&T

Bank

Corp

16,794,902‌

12,700

Macatawa

Bank

Corp

115,951‌

8,910

Mercantile

Bank

Corp

293,495‌

28,455

Metrocity

Bankshares,

Inc

570,238‌

15,723

(a),(b)

Metropolitan

Bank

Holding

Corp

509,582‌

11,042

Mid

Penn

Bancorp,

Inc

210,461‌

22,606

Midland

States

Bancorp,

Inc

493,263‌

5,927

MidWestOne

Financial

Group,

Inc

118,066‌

25,698

MVB

Financial

Corp

504,966‌

21,289

National

Bank

Holdings

Corp

663,791‌

34,793

NBT

Bancorp,

Inc

1,164,522‌

644,183

New

York

Community

Bancorp,

Inc

6,106,855‌

8,973

Nicolet

Bankshares,

Inc

653,414‌

9,353

Northeast

Bank

446,512‌

27,798

(b)

Northeast

Community

Bancorp,

Inc

423,642‌

35

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

44,937

Northfield

Bancorp,

Inc

$

386,458‌

101,413

Northwest

Bancshares,

Inc

1,056,723‌

2,139,209

(a)

NU

Holdings

Ltd

17,541,514‌

52,078

OceanFirst

Financial

Corp

659,307‌

72,625

OFG

Bancorp

2,151,153‌

302,292

Old

National

Bancorp

4,141,400‌

15,271

Old

Second

Bancorp,

Inc

207,075‌

20,312

Origin

Bancorp,

Inc

601,032‌

3,618

Orrstown

Financial

Services,

Inc

76,376‌

89,066

Pacific

Premier

Bancorp,

Inc

1,692,254‌

93,374

(b)

PacWest

Bancorp

661,088‌

11,574

Park

National

Corp

1,173,488‌

12,857

Parke

Bancorp,

Inc

216,512‌

22,883

Pathward

Financial,

Inc

1,036,371‌

10,253

Peapack

Gladstone

Financial

Corp

239,613‌

23,125

Peoples

Bancorp,

Inc

637,788‌

8,138

Peoples

Financial

Services

Corp

319,091‌

64,999

Pinnacle

Financial

Partners,

Inc

4,053,338‌

385

(a)

Pioneer

Bancorp,

Inc

3,157‌

353,298

PNC

Financial

Services

Group,

Inc

40,442,022‌

77,194

Popular,

Inc

5,020,698‌

12,183

Preferred

Bank

725,741‌

28,576

Premier

Financial

Corp

495,794‌

5,687

Primis

Financial

Corp

53,230‌

82,390

Prosperity

Bancshares,

Inc

4,493,551‌

103,199

Provident

Financial

Services,

Inc

1,449,946‌

14,068

QCR

Holdings,

Inc

667,527‌

22,257

RBB

Bancorp

257,514‌

4,522

Red

River

Bancshares,

Inc

210,183‌

840,825

Regions

Financial

Corp

12,217,187‌

43,118

Renasant

Corp

1,051,648‌

4,137

Republic

Bancorp,

Inc

(Class

A)

182,814‌

33,109

S&T

Bancorp,

Inc

852,888‌

34,709

Sandy

Spring

Bancorp,

Inc

709,799‌

69,004

Seacoast

Banking

Corp

of

Florida

1,394,571‌

41,638

ServisFirst

Bancshares,

Inc

1,963,648‌

14,920

Shore

Bancshares,

Inc

153,079‌

5,250

Sierra

Bancorp

92,400‌

98,370

Simmons

First

National

Corp

(Class

A)

1,397,838‌

16,069

SmartFinancial,

Inc

335,039‌

354

South

Plains

Financial,

Inc

9,494‌

2,746

(a)

Southern

First

Bancshares,

Inc

74,142‌

5,675

Southern

Missouri

Bancorp,

Inc

229,554‌

24,349

(b)

Southside

Bancshares,

Inc

650,118‌

69,727

SouthState

Corp

4,608,955‌

38,203

Stellar

Bancorp,

Inc

830,533‌

21,096

Stock

Yards

Bancorp,

Inc

825,065‌

5,861

Summit

Financial

Group,

Inc

126,012‌

110,649

Synovus

Financial

Corp

2,884,619‌

38,762

(a)

Texas

Capital

Bancshares,

Inc

2,134,236‌

11,131

Tompkins

Trustco,

Inc

557,440‌

56,169

Towne

Bank

1,344,686‌

24,322

Trico

Bancshares

786,817‌

17,672

Triumph

Financial,

Inc

1,100,082‌

1,176,201

Truist

Financial

Corp

33,357,060‌

19,519

TrustCo

Bank

Corp

NY

498,320‌

45,567

Trustmark

Corp

916,352‌

38,832

UMB

Financial

Corp

2,435,543‌

130,431

United

Bankshares,

Inc

3,709,458‌

103,599

United

Community

Banks,

Inc

2,288,502‌

22,107

Univest

Financial

Corp

368,303‌

1,345,562

US

Bancorp

42,896,517‌

414,096

Valley

National

Bancorp

3,221,667‌

Equity

Index

Fund

October

31,

2023

36

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

34,533

Veritex

Holdings,

Inc

$

594,658‌

81,079

Washington

Federal,

Inc

2,001,030‌

15,885

Washington

Trust

Bancorp,

Inc

368,373‌

153,531

Webster

Financial

Corp

5,829,572‌

3,244,438

Wells

Fargo

&

Co

129,031,299‌

51,566

WesBanco,

Inc

1,257,695‌

8,366

West

Bancorporation,

Inc

137,453‌

20,400

Westamerica

Bancorporation

963,696‌

91,934

Western

Alliance

Bancorp

3,778,487‌

46,083

Wintrust

Financial

Corp

3,441,939‌

47,065

WSFS

Financial

Corp

1,666,101‌

109,414

Zions

Bancorporation

3,375,422‌

TOTAL

BANKS

1,175,147,039‌

CAPITAL

GOODS

-

6

.3

%

90,270

(a)

3D

Systems

Corp

336,707‌

486,875

3M

Co

44,281,281‌

115,895

A.O.

Smith

Corp

8,084,835‌

54,660

Aaon,

Inc

2,977,877‌

23,678

(a)

AAR

Corp

1,405,526‌

26,578

Acuity

Brands,

Inc

4,304,839‌

64,984

Advanced

Drainage

Systems,

Inc

6,942,241‌

115,971

Aecom

Technology

Corp

8,877,580‌

22,184

(a)

Aerovironment,

Inc

2,543,617‌

27,273

(a)

AerSale

Corp

417,004‌

53,417

AGCO

Corp

6,124,793‌

107,753

Air

Lease

Corp

3,731,486‌

13,727

Alamo

Group,

Inc

2,200,438‌

34,459

Albany

International

Corp

(Class

A)

2,812,199‌

77,538

Allegion

plc

7,626,638‌

6,208

Allied

Motion

Technologies,

Inc

171,341‌

78,516

Allison

Transmission

Holdings,

Inc

3,958,777‌

12,889

Alta

Equipment

Group,

Inc

118,450‌

35,576

(a)

Ameresco,

Inc

930,312‌

12,826

(a)

American

Woodmark

Corp

862,292‌

209,534

Ametek,

Inc

29,496,101‌

213,046

(a)

API

Group

Corp

5,511,500‌

18,243

Apogee

Enterprises,

Inc

782,990‌

30,780

Applied

Industrial

Technologies,

Inc

4,725,038‌

96,323

(a),(b)

Archer

Aviation,

Inc

457,534‌

51,490

Arcosa,

Inc

3,556,414‌

11,536

Argan,

Inc

527,657‌

48,099

Armstrong

World

Industries,

Inc

3,650,233‌

166,986

(a)

Array

Technologies,

Inc

2,893,867‌

17,527

Astec

Industries,

Inc

701,781‌

17,487

(a)

Astronics

Corp

268,076‌

34,587

(a)

Atkore,

Inc

4,298,472‌

60,126

(a)

Axon

Enterprise,

Inc

12,295,166‌

100,862

(a)

AZEK

Co,

Inc

2,642,584‌

18,025

AZZ,

Inc

852,042‌

40,879

(a)

Babcock

&

Wilcox

Enterprises,

Inc

107,512‌

69,999

Barnes

Group,

Inc

1,455,279‌

45,670

(a)

Beacon

Roofing

Supply,

Inc

3,250,334‌

28,514

(a),(b)

Blink

Charging

Co

67,863‌

162,550

(a),(b)

Bloom

Energy

Corp

1,690,520‌

11,512

(a)

Blue

Bird

Corp

209,633‌

11,068

(a)

BlueLinx

Holdings,

Inc

787,045‌

496,849

(a)

Boeing

Co

92,821,330‌

33,731

Boise

Cascade

Co

3,162,281‌

11,845

(a)

Bowman

Consulting

Group

Ltd

314,722‌

40,102

(b)

Brookfield

Business

Corp

570,250‌

114,153

(a)

Builders

FirstSource,

Inc

12,387,884‌

87,839

BWX

Technologies,

Inc

6,524,681‌

37

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

8,806

(b)

Cadre

Holdings,

Inc

$

247,008‌

45,144

Carlisle

Cos,

Inc

11,470,639‌

725,390

Carrier

Global

Corp

34,572,087‌

458,018

Caterpillar,

Inc

103,534,969‌

233,284

(a),(b)

ChargePoint

Holdings,

Inc

592,541‌

36,781

(a)

Chart

Industries,

Inc

4,275,056‌

900,871

CNH

Industrial

NV

9,891,564‌

20,151

Columbus

McKinnon

Corp

616,016‌

28,861

Comfort

Systems

USA,

Inc

5,248,373‌

887

(a)

Concrete

Pumping

Holdings,

Inc

6,236‌

28,626

(a)

Construction

Partners,

Inc

1,100,670‌

109,990

(a)

Core

&

Main,

Inc

3,308,499‌

38,580

Crane

Co

3,754,991‌

38,580

Crane

NXT

Co

2,006,160‌

11,874

CSW

Industrials,

Inc

2,104,785‌

123,420

Cummins,

Inc

26,695,746‌

33,427

Curtiss-Wright

Corp

6,645,622‌

55,814

(a),(b)

Custom

Truck

One

Source,

Inc

322,047‌

237,445

Deere

&

Co

86,752,905‌

311,752

(a),(b)

Desktop

Metal,

Inc

270,102‌

120,750

Donaldson

Co,

Inc

6,962,445‌

17,088

Douglas

Dynamics,

Inc

414,897‌

121,539

Dover

Corp

15,793,993‌

7,460

(a)

Ducommun,

Inc

356,886‌

12,598

(a)

DXP

Enterprises,

Inc

410,695‌

21,956

(a)

Dycom

Industries,

Inc

1,870,212‌

352,618

Eaton

Corp

plc

73,312,808‌

39,624

EMCOR

Group,

Inc

8,188,300‌

502,688

Emerson

Electric

Co

44,724,151‌

16,119

Encore

Wire

Corp

2,882,561‌

46,405

(a)

Energy

Recovery,

Inc

705,356‌

94,986

(a),(b)

Energy

Vault

Holdings,

Inc

190,922‌

55,416

Enerpac

Tool

Group

Corp

1,568,273‌

33,465

EnerSys

2,863,935‌

116,702

(a),(b)

Enovix

Corp

1,039,815‌

16,390

EnPro

Industries,

Inc

1,820,273‌

122,700

(a),(b)

Eos

Energy

Enterprises,

Inc

215,952‌

56,109

Esab

Corp

3,551,700‌

19,331

ESCO

Technologies,

Inc

1,879,360‌

80,826

(a),(b)

ESS

Tech,

Inc

96,991‌

506,576

Fastenal

Co

29,553,644‌

46,155

Federal

Signal

Corp

2,678,836‌

182,133

Ferguson

plc

27,356,377‌

98,402

Flowserve

Corp

3,613,321‌

24,553

(a),(b)

Fluence

Energy,

Inc

425,258‌

142,932

(a)

Fluor

Corp

4,758,206‌

310,223

Fortive

Corp

20,251,357‌

104,386

Fortune

Brands

Innovations,

Inc

5,824,739‌

37,279

Franklin

Electric

Co,

Inc

3,232,835‌

79,831

FTAI

Aviation

Ltd

3,002,444‌

59,145

(a),(b)

FTC

Solar,

Inc

63,285‌

511,812

(a),(b)

FuelCell

Energy,

Inc

557,875‌

155,438

(a)

Gates

Industrial

Corp

plc

1,697,383‌

36,014

GATX

Corp

3,766,344‌

26,667

(a),(b)

Gencor

Industries,

Inc

378,671‌

54,511

(a)

Generac

Holdings,

Inc

4,582,740‌

214,154

General

Dynamics

Corp

51,677,502‌

959,654

General

Electric

Co

104,247,214‌

26,448

(a)

Gibraltar

Industries,

Inc

1,609,625‌

25,662

Global

Industrial

Co

819,901‌

37,797

(a)

GMS,

Inc

2,210,369‌

18,896

Gorman-Rupp

Co

558,377‌

147,695

Graco,

Inc

10,981,123‌

Equity

Index

Fund

October

31,

2023

38

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

149,154

GrafTech

International

Ltd

$

514,581‌

39,368

Granite

Construction,

Inc

1,593,617‌

60,950

(a)

Great

Lakes

Dredge

&

Dock

Corp

463,220‌

33,587

Greenbrier

Cos,

Inc

1,161,774‌

40,831

Griffon

Corp

1,630,790‌

22,211

H&E

Equipment

Services,

Inc

904,432‌

130,446

(a)

Hayward

Holdings,

Inc

1,369,683‌

41,922

HEICO

Corp

6,640,864‌

70,220

HEICO

Corp

(Class

A)

8,927,069‌

23,945

Helios

Technologies,

Inc

1,238,435‌

25,702

Herc

Holdings,

Inc

2,744,717‌

78,974

Hexcel

Corp

4,890,070‌

54,131

Hillenbrand,

Inc

2,058,602‌

103,419

(a)

Hillman

Solutions

Corp

678,429‌

589,201

Honeywell

International,

Inc

107,976,975‌

317,760

Howmet

Aerospace,

Inc

14,013,216‌

46,255

Hubbell,

Inc

12,493,475‌

33,445

(a)

Hudson

Technologies,

Inc

430,772‌

35,838

Huntington

Ingalls

Industries,

Inc

7,877,909‌

306,800

(a),(b)

Hyliion

Holdings

Corp

182,945‌

7,156

Hyster-Yale

Materials

Handling,

Inc

286,312‌

66,059

IDEX

Corp

12,644,353‌

8,756

(a)

IES

Holdings,

Inc

544,886‌

268,872

Illinois

Tool

Works,

Inc

60,259,593‌

353,391

Ingersoll

Rand,

Inc

21,443,766‌

15,632

Insteel

Industries,

Inc

436,289‌

66,579

ITT,

Inc

6,215,150‌

82,032

(a)

Janus

International

Group,

Inc

767,820‌

95,278

(a)

JELD-WEN

Holding,

Inc

1,079,500‌

30,832

John

Bean

Technologies

Corp

3,207,145‌

613,120

Johnson

Controls

International

plc

30,055,142‌

9,278

Kadant,

Inc

2,041,160‌

22,936

Kaman

Corp

426,839‌

63,395

Kennametal,

Inc

1,465,058‌

89,581

(a)

Kratos

Defense

&

Security

Solutions,

Inc

1,527,356‌

167,378

L3Harris

Technologies,

Inc

30,029,287‌

4,474

(a)

Lawson

Products,

Inc

134,891‌

28,805

Lennox

International,

Inc

10,673,405‌

36,528

(a)

Leonardo

DRS,

Inc

696,589‌

16,978

(a)

Limbach

Holdings,

Inc

505,944‌

47,515

Lincoln

Electric

Holdings,

Inc

8,305,622‌

8,406

Lindsay

Corp

1,050,078‌

201,056

Lockheed

Martin

Corp

91,408,100‌

32,814

LSI

Industries,

Inc

488,272‌

30,526

Luxfer

Holdings

plc

252,450‌

25,887

(a)

Manitowoc

Co,

Inc

331,354‌

195,438

Masco

Corp

10,180,365‌

17,394

(a)

Masonite

International

Corp

1,376,561‌

47,879

(a)

Mastec,

Inc

2,845,928‌

104,386

(a)

Masterbrand,

Inc

1,159,728‌

26,438

(a)

Mayville

Engineering

Co

Inc

319,635‌

21,770

McGrath

RentCorp

2,190,062‌

197,279

MDU

Resources

Group,

Inc

3,671,362‌

56,073

(a)

Mercury

Computer

Systems,

Inc

2,017,507‌

132,141

(a),(b)

Microvast

Holdings,

Inc

162,533‌

46,376

(a)

Middleby

Corp

5,234,459‌

12,532

Miller

Industries,

Inc

455,789‌

27,127

Moog,

Inc

(Class

A)

3,148,088‌

74,482

(a)

MRC

Global,

Inc

782,806‌

40,108

MSC

Industrial

Direct

Co

(Class

A)

3,800,233‌

91,520

Mueller

Industries,

Inc

3,451,219‌

123,593

Mueller

Water

Products,

Inc

(Class

A)

1,528,845‌

15,607

(a)

MYR

Group,

Inc

1,807,759‌

39

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

3,753

National

Presto

Industries,

Inc

$

280,537‌

51,736

(a)

NEXTracker,

Inc

1,798,343‌

529,494

(a),(b)

Nikola

Corp

571,854‌

50,093

Nordson

Corp

10,649,271‌

125,793

Northrop

Grumman

Corp

59,302,594‌

5,136

(a)

Northwest

Pipe

Co

140,007‌

80,220

(a)

NOW,

Inc

884,024‌

25,573

(a),(b)

NuScale

Power

Corp

86,437‌

157,302

nVent

Electric

plc

7,570,945‌

2,380

Omega

Flex,

Inc

173,907‌

51,245

Oshkosh

Corp

4,495,724‌

374,408

Otis

Worldwide

Corp

28,908,042‌

77,678

Owens

Corning,

Inc

8,806,355‌

452,178

PACCAR,

Inc

37,318,250‌

17,348

Park

Aerospace

Corp

254,669‌

112,731

Parker-Hannifin

Corp

41,587,593‌

27,211

(a)

Parsons

Corp

1,538,782‌

133,782

Pentair

plc

7,775,410‌

42,794

(a)

PGT

Innovations,

Inc

1,281,252‌

445,266

(a),(b)

Plug

Power,

Inc

2,622,617‌

6,237

Powell

Industries,

Inc

478,066‌

1,157

Preformed

Line

Products

Co

156,600‌

58,364

Primoris

Services

Corp

1,754,422‌

20,651

(a)

Proto

Labs,

Inc

487,570‌

24,588

Quanex

Building

Products

Corp

660,188‌

124,631

Quanta

Services,

Inc

20,828,333‌

25,790

(a)

RBC

Bearings,

Inc

5,669,674‌

147,602

(a),(b)

Redwire

Corp

395,573‌

58,146

Regal-Beloit

Corp

6,885,068‌

112,180

(a)

Resideo

Technologies,

Inc

1,624,366‌

34,968

REV

Group,

Inc

497,944‌

241,774

(a),(b)

Rocket

Lab

USA,

Inc

1,022,704‌

102,202

Rockwell

Automation,

Inc

26,859,708‌

1,287,724

RTX

Corp

104,807,856‌

6,598

Rush

Enterprises,

Inc

266,823‌

44,730

Rush

Enterprises,

Inc

(Class

A)

1,591,493‌

134,984

Sensata

Technologies

Holding

plc

4,303,290‌

198,020

(a),(b)

SES

AI

Corp

358,416‌

140,450

(a)

Shoals

Technologies

Group,

Inc

2,157,312‌

24,827

Shyft

Group,

Inc

272,600‌

37,416

Simpson

Manufacturing

Co,

Inc

4,983,063‌

40,856

(a)

SiteOne

Landscape

Supply,

Inc

5,628,731‌

46,027

Snap-On,

Inc

11,872,204‌

96,167

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

2,173,374‌

33,039

(a)

SPX

Technologies,

Inc

2,647,085‌

8,453

Standex

International

Corp

1,213,597‌

130,458

Stanley

Black

&

Decker,

Inc

11,095,453‌

150,669

(a),(b)

Stem,

Inc

509,261‌

19,738

(a)

Sterling

Construction

Co,

Inc

1,437,913‌

58,669

(a),(b)

SunPower

Corp

250,517‌

191,646

(a)

Sunrun,

Inc

1,849,384‌

28,299

Tennant

Co

2,100,352‌

69,107

Terex

Corp

3,165,101‌

281,691

(a),(b)

Terran

Orbital

Corp

225,043‌

38,923

Textainer

Group

Holdings

Ltd

1,911,898‌

184,557

Textron,

Inc

14,026,332‌

22,578

(a)

Thermon

Group

Holdings,

Inc

602,607‌

48,377

Timken

Co

3,343,818‌

51,987

(a)

Titan

International,

Inc

590,572‌

13,882

(a)

Titan

Machinery,

Inc

344,829‌

91,243

Toro

Co

7,376,084‌

198,625

Trane

Technologies

plc

37,800,324‌

5,151

(a)

Transcat,

Inc

463,693‌

Equity

Index

Fund

October

31,

2023

40

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

45,376

(a)

TransDigm

Group,

Inc

$

37,575,412‌

100,182

(a)

Trex

Co,

Inc

5,631,230‌

67,174

Trinity

Industries,

Inc

1,399,234‌

47,307

(a)

Triumph

Group,

Inc

352,910‌

49,355

(a)

Tutor

Perini

Corp

355,850‌

59,386

UFP

Industries,

Inc

5,651,766‌

59,094

United

Rentals,

Inc

24,008,119‌

11,489

(a)

V2X,

Inc

586,743‌

18,457

Valmont

Industries,

Inc

3,634,368‌

228,909

(a),(b)

Velo3D,

Inc

302,160‌

11,375

Veritiv

Corp

1,927,039‌

317,380

Vertiv

Holdings

Co

12,463,513‌

15,571

(a)

Vicor

Corp

603,221‌

210,020

(a),(b)

Virgin

Galactic

Holdings,

Inc

310,830‌

39,008

W.W.

Grainger,

Inc

28,469,209‌

39,430

Wabash

National

Corp

815,807‌

29,046

Watsco,

Inc

10,133,859‌

26,804

Watts

Water

Technologies,

Inc

(Class

A)

4,637,360‌

40,493

WESCO

International,

Inc

5,191,203‌

158,438

Westinghouse

Air

Brake

Technologies

Corp

16,797,597‌

168,942

(a)

WillScot

Mobile

Mini

Holdings

Corp

6,658,004‌

55,521

Woodward

Inc

6,923,469‌

35,235

(a),(b)

Xometry,

Inc

512,669‌

211,534

Xylem,

Inc

19,786,890‌

140,071

Zurn

Elkay

Water

Solutions

Corp

3,706,279‌

TOTAL

CAPITAL

GOODS

2,280,201,399‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1

.7

%

71,796

ABM

Industries,

Inc

2,824,455‌

91,019

ACCO

Brands

Corp

460,556‌

110,227

(a)

ACV

Auctions,

Inc

1,469,326‌

380,551

(a)

Alight,

Inc

2,526,859‌

101,978

(a)

ARAMARK

Uniform

Services

1,559,244‌

13,852

Aris

Water

Solution,

Inc

115,664‌

42,312

(a)

ASGN,

Inc

3,531,360‌

259,768

(a),(b)

Aurora

Innovation,

Inc

454,594‌

367,578

Automatic

Data

Processing,

Inc

80,212,871‌

5,327

Barrett

Business

Services,

Inc

487,207‌

223,464

(a),(b)

BlackSky

Technology,

Inc

265,922‌

110,250

Booz

Allen

Hamilton

Holding

Corp

13,222,283‌

34,803

(a)

BrightView

Holdings,

Inc

234,572‌

35,470

Brink's

Co

2,371,524‌

104,604

Broadridge

Financial

Solutions,

Inc

17,849,627‌

21,645

(a)

CACI

International,

Inc

(Class

A)

7,029,430‌

41,616

(a)

Casella

Waste

Systems,

Inc

(Class

A)

3,139,927‌

43,111

(a)

CBIZ,

Inc

2,240,048‌

25,717

(a)

CECO

Environmental

Corp

416,101‌

13,622

(a)

Cimpress

plc

812,825‌

77,297

Cintas

Corp

39,198,855‌

387,769

(a),(b)

Clarivate

plc

2,473,966‌

44,744

(a)

Clean

Harbors,

Inc

6,875,811‌

42,140

Concentrix

Corp

3,211,489‌

132,462

(a)

Conduent,

Inc

422,554‌

761,802

(a)

Copart,

Inc

33,153,623‌

100,942

(a)

CoreCivic,

Inc

1,281,963‌

357,188

(a)

CoStar

Group,

Inc

26,221,171‌

4,484

CRA

International,

Inc

435,441‌

26,157

CSG

Systems

International,

Inc

1,225,717‌

30,980

Deluxe

Corp

528,209‌

75,581

(a)

Driven

Brands

Holdings,

Inc

860,112‌

196,245

Dun

&

Bradstreet

Holdings,

Inc

1,719,106‌

16,785

Ennis,

Inc

358,528‌

104,571

Equifax,

Inc

17,732,104‌

41

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

132,285

(a)

ExlService

Holdings,

Inc

$

3,453,961‌

41,992

Exponent,

Inc

3,077,594‌

46,013

First

Advantage

Corp

598,629‌

116,960

(a),(b)

FiscalNote

Holdings,

Inc

155,557‌

8,190

(a)

Forrester

Research,

Inc

190,008‌

9,141

(a)

Franklin

Covey

Co

360,247‌

31,944

(a)

FTI

Consulting,

Inc

6,780,433‌

161,326

Genpact

Ltd

5,410,874‌

97,493

(a),(b)

GEO

Group,

Inc

852,089‌

61,320

(a)

Harsco

Corp

351,977‌

56,484

Healthcare

Services

Group

536,598‌

14,986

Heidrick

&

Struggles

International,

Inc

364,759‌

56,093

Herman

Miller,

Inc

1,318,186‌

15,364

(a)

HireRight

Holdings

Corp

141,502‌

39,729

HNI

Corp

1,378,199‌

17,579

(a)

Huron

Consulting

Group,

Inc

1,746,649‌

14,225

ICF

International,

Inc

1,802,734‌

32,868

(a),(b)

Innodata,

Inc

246,510‌

30,132

Insperity,

Inc

3,189,171‌

40,589

Interface,

Inc

360,836‌

108,944

Jacobs

Solutions,

Inc

14,522,235‌

126,396

KBR,

Inc

7,349,927‌

25,446

Kelly

Services,

Inc

(Class

A)

454,211‌

14,799

Kforce,

Inc

903,331‌

44,482

Korn/Ferry

International

2,024,821‌

82,778

(a)

Legalzoom.com,

Inc

825,297‌

115,337

Leidos

Holdings,

Inc

11,432,203‌

20,481

(a)

Liquidity

Services,

Inc

394,669‌

39,935

Manpower,

Inc

2,794,252‌

23,701

Matthews

International

Corp

(Class

A)

839,963‌

58,381

MAXIMUS,

Inc

4,362,228‌

51,680

(a)

Mistras

Group,

Inc

282,690‌

19,414

(a)

Montrose

Environmental

Group,

Inc

448,852‌

36,622

MSA

Safety,

Inc

5,781,881‌

8,091

NL

Industries,

Inc

40,293‌

11,033

(a)

NV5

Global,

Inc

1,040,964‌

99,756

(a)

OPENLANE,

Inc

1,339,723‌

290,220

Paychex,

Inc

32,228,931‌

131,794

Pitney

Bowes,

Inc

425,695‌

120,113

(a),(b)

Planet

Labs

PBC

259,444‌

83,380

(a)

Quad

Graphics,

Inc

407,728‌

169,038

RB

Global,

Inc

11,055,085‌

185,579

Republic

Services,

Inc

27,556,626‌

31,570

Resources

Connection,

Inc

425,248‌

95,845

Robert

Half

International,

Inc

7,166,331‌

231,850

Rollins,

Inc

8,719,879‌

43,704

Science

Applications

International

Corp

4,774,225‌

17,683

(a)

SP

Plus

Corp

893,522‌

191,383

SS&C

Technologies

Holdings,

Inc

9,616,996‌

72,578

Steelcase,

Inc

(Class

A)

791,826‌

92,570

(a)

Stericycle,

Inc

3,817,587‌

11,647

(a)

Sterling

Check

Corp

130,213‌

47,995

Tetra

Tech,

Inc

7,242,925‌

166,720

TransUnion

7,315,674‌

31,176

(a)

TriNet

Group,

Inc

3,203,334‌

27,408

(a)

TrueBlue,

Inc

303,407‌

13,566

TTEC

Holdings,

Inc

279,188‌

16,144

Unifirst

Corp

2,654,558‌

86,222

(a)

Upwork,

Inc

901,020‌

190,255

(a)

Veralto

Corp

13,127,595‌

126,762

Verisk

Analytics,

Inc

28,820,608‌

106,472

(a)

Verra

Mobility

Corp

2,104,951‌

14,279

(a)

Viad

Corp

345,980‌

Equity

Index

Fund

October

31,

2023

42

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

7,529

VSE

Corp

$

405,060‌

361,202

Waste

Management,

Inc

59,356,325‌

7,913

(a)

Willdan

Group,

Inc

139,585‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

598,546,643‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

1

.3

%

19,450

(a)

1-800-FLOWERS.COM,

Inc

(Class

A)

146,069‌

25,052

Aaron's

Co,

Inc

185,635‌

47,341

(a)

Abercrombie

&

Fitch

Co

(Class

A)

2,879,280‌

76,801

Academy

Sports

&

Outdoors,

Inc

3,443,757‌

48,894

Advance

Auto

Parts,

Inc

2,543,955‌

151,292

American

Eagle

Outfitters,

Inc

2,643,071‌

4,429

(a)

America's

Car-Mart,

Inc

296,654‌

88,408

Arko

Corp

667,480‌

17,268

(a)

Asbury

Automotive

Group,

Inc

3,304,577‌

30,961

(a)

Autonation,

Inc

4,027,407‌

16,155

(a)

Autozone,

Inc

40,018,035‌

196,056

(a),(b)

BARK,

Inc

209,780‌

191,637

Bath

&

Body

Works,

Inc

5,682,037‌

169,907

Best

Buy

Co,

Inc

11,353,186‌

15,493

(b)

Big

5

Sporting

Goods

Corp

109,381‌

21,956

(a)

Boot

Barn

Holdings,

Inc

1,525,942‌

43,151

Buckle,

Inc

1,457,209‌

16,431

Build-A-Bear

Workshop,

Inc

407,489‌

54,905

(a)

Burlington

Stores,

Inc

6,645,152‌

27,131

Caleres,

Inc

694,011‌

45,155

(b)

Camping

World

Holdings,

Inc

756,346‌

128,771

(a)

Carmax,

Inc

7,866,620‌

34,654

(a)

CarParts.com,

Inc

98,071‌

82,603

(a),(b)

Carvana

Co

2,230,281‌

25,678

Cato

Corp

(Class

A)

183,084‌

101,748

(a)

Chico's

FAS,

Inc

761,075‌

66,148

(a),(b)

ContextLogic,

Inc

259,300‌

1,017,014

(a)

Coupang,

Inc

17,289,238‌

44,243

(b)

Designer

Brands,

Inc

447,297‌

74,785

(a)

Destination

XL

Group,

Inc

311,106‌

47,280

Dick's

Sporting

Goods,

Inc

5,056,596‌

3,335

(b)

Dillard's,

Inc

(Class

A)

1,035,351‌

8,955

(a)

Duluth

Holdings,

Inc

45,044‌

479,591

eBay,

Inc

18,814,355‌

106,237

(a)

Etsy,

Inc

6,618,565‌

52,804

(a),(b)

EVgo,

Inc

109,040‌

46,886

(a)

Five

Below,

Inc

8,157,226‌

89,712

(a),(b)

Floor

&

Decor

Holdings,

Inc

7,392,269‌

84,993

Foot

Locker,

Inc

1,784,003‌

16,268

(a),(b)

Funko,

Inc

125,426‌

272,321

(a),(b)

GameStop

Corp

(Class

A)

3,749,860‌

166,065

Gap,

Inc

2,125,632‌

10,885

(a)

Genesco,

Inc

298,358‌

123,926

Genuine

Parts

Co

15,969,104‌

12,919

Group

1

Automotive,

Inc

3,259,851‌

113,852

(a)

GrowGeneration

Corp

232,258‌

38,855

(b)

Guess?,

Inc

835,382‌

12,079

Haverty

Furniture

Cos,

Inc

314,658‌

11,946

Hibbett

Sports,

Inc

550,352‌

102,329

Kohl's

Corp

2,307,519‌

57,525

(a)

Lands'

End,

Inc

361,257‌

119,702

(a)

Leslie's,

Inc

591,328‌

25,514

Lithia

Motors,

Inc

(Class

A)

6,179,746‌

234,155

LKQ

Corp

10,284,088‌

329,227

Macy's,

Inc

4,009,985‌

14,865

(a)

MarineMax,

Inc

407,004‌

24,916

Monro

Muffler,

Inc

618,415‌

43

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL—continued

18,355

Murphy

USA,

Inc

$

6,657,175‌

60,209

(a)

National

Vision

Holdings,

Inc

935,648‌

86,070

(b)

Nordstrom,

Inc

1,203,259‌

35,743

(a)

ODP

Corp

1,605,576‌

57,170

(a)

Ollie's

Bargain

Outlet

Holdings,

Inc

4,415,811‌

7,506

(a)

OneWater

Marine,

Inc

169,861‌

52,520

(a)

O'Reilly

Automotive,

Inc

48,866,709‌

32,132

(a)

Overstock.com,

Inc

501,259‌

19,470

Penske

Auto

Group,

Inc

2,785,768‌

63,078

(a)

Petco

Health

&

Wellness

Co,

Inc

218,250‌

15,358

PetMed

Express,

Inc

105,817‌

32,909

Pool

Corp

10,391,675‌

62,519

Rent-A-Center,

Inc

1,629,245‌

26,266

(a),(b)

Revolve

Group,

Inc

361,157‌

15,040

(a)

RH

3,278,118‌

299,011

Ross

Stores,

Inc

34,676,306‌

82,883

(a)

Sally

Beauty

Holdings,

Inc

704,506‌

22,839

(a)

Savers

Value

Village,

Inc

341,900‌

10,676

Shoe

Carnival,

Inc

244,267‌

39,515

(b)

Signet

Jewelers

Ltd

2,759,332‌

17,467

(a)

Sleep

Number

Corp

284,188‌

17,973

Sonic

Automotive,

Inc

(Class

A)

860,008‌

31,126

(a),(b)

Sportsman's

Warehouse

Holdings,

Inc

158,431‌

107,982

(a)

Stitch

Fix,

Inc

354,181‌

83,380

(a),(b)

ThredUp,

Inc

268,484‌

16,584

(a),(b)

Tilly's,

Inc

134,330‌

1,021,798

TJX

Cos,

Inc

89,989,750‌

21,328

(a),(b)

Torrid

Holdings,

Inc

49,694‌

95,996

Tractor

Supply

Co

18,484,990‌

44,859

(a)

Ulta

Beauty,

Inc

17,105,185‌

53,953

(a)

Urban

Outfitters,

Inc

1,867,853‌

67,822

(a)

Victoria's

Secret

&

Co

1,212,657‌

64,680

(a)

Warby

Parker,

Inc

839,546‌

74,009

(a)

Wayfair,

Inc

3,153,523‌

55,729

Williams-Sonoma,

Inc

8,372,725‌

3,199

Winmark

Corp

1,290,221‌

17,055

(a)

Zumiez,

Inc

280,214‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

486,232,816‌

CONSUMER

DURABLES

&

APPAREL

-

1

.1

%

29,457

Acushnet

Holdings

Corp

1,501,129‌

393,678

(a)

Allbirds,

Inc

340,453‌

48,209

(a),(b)

AMMO,

Inc

140,288‌

37,384

(a)

Beazer

Homes

USA,

Inc

904,319‌

70,933

Brunswick

Corp

4,927,715‌

107,866

(a)

Callaway

Golf

Co

1,318,123‌

113,022

(a)

Capri

Holdings

Ltd

5,784,466‌

31,801

Carter's,

Inc

2,135,755‌

7,534

(a)

Cavco

Industries,

Inc

1,879,808‌

32,019

Century

Communities,

Inc

1,969,168‌

17,828

(b)

Clarus

Corp

103,224‌

30,881

Columbia

Sportswear

Co

2,279,018‌

39,614

(b)

Cricut,

Inc

337,907‌

54,538

(a)

Crocs,

Inc

4,871,334‌

22,981

(a)

Deckers

Outdoor

Corp

13,721,036‌

275,114

DR

Horton,

Inc

28,721,902‌

28,420

(a),(b)

Dream

Finders

Homes,

Inc

559,590‌

17,863

Ethan

Allen

Interiors,

Inc

469,082‌

139,793

(a)

Garmin

Ltd

14,332,976‌

32,892

(a)

G-III

Apparel

Group

Ltd

840,391‌

95,226

(a)

GoPro,

Inc

239,017‌

22,207

(a)

Green

Brick

Partners,

Inc

859,411‌

348,660

Hanesbrands,

Inc

1,460,885‌

Equity

Index

Fund

October

31,

2023

44

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

113,125

Hasbro,

Inc

$

5,107,594‌

17,902

(a)

Helen

of

Troy

Ltd

1,760,125‌

5,395

(a)

Hovnanian

Enterprises,

Inc

374,845‌

17,511

Installed

Building

Products,

Inc

1,955,453‌

20,871

(a)

iRobot

Corp

687,282‌

18,019

(a)

JAKKS

Pacific,

Inc

302,179‌

4,498

Johnson

Outdoors,

Inc

213,880‌

72,924

KB

Home

3,223,241‌

52,445

Kontoor

Brands,

Inc

2,436,070‌

41,872

(a)

Landsea

Homes

Corp

311,528‌

28,807

(a)

Latham

Group,

Inc

65,968‌

33,828

La-Z-Boy,

Inc

989,131‌

166

(a)

Legacy

Housing

Corp

3,073‌

99,765

Leggett

&

Platt,

Inc

2,337,494‌

209,272

Lennar

Corp

(Class

A)

22,325,137‌

15,691

(b)

Lennar

Corp

(Class

B)

1,547,289‌

16,589

(a)

LGI

Homes,

Inc

1,567,826‌

8,731

(a)

Lovesac

Co

143,712‌

97,494

(a)

Lululemon

Athletica,

Inc

38,361,939‌

32,226

(a)

M/I

Homes,

Inc

2,644,788‌

15,494

(a)

Malibu

Boats,

Inc

675,848‌

6,781

Marine

Products

Corp

66,047‌

13,757

(a)

MasterCraft

Boat

Holdings,

Inc

281,193‌

334,950

(a)

Mattel,

Inc

6,390,846‌

66,005

MDC

Holdings,

Inc

2,504,890‌

37,616

Meritage

Homes

Corp

4,288,976‌

45,619

(a)

Mohawk

Industries,

Inc

3,666,855‌

11,455

Movado

Group,

Inc

319,136‌

291,711

Newell

Rubbermaid,

Inc

1,960,298‌

1,049,651

Nike,

Inc

(Class

B)

107,872,633‌

2,570

(a)

NVR,

Inc

13,910,433‌

11,713

Oxford

Industries,

Inc

988,577‌

245,766

(a),(b)

Peloton

Interactive,

Inc

1,169,846‌

49,830

Polaris

Industries,

Inc

4,306,309‌

184,681

Pulte

Homes,

Inc

13,590,675‌

117,697

(b)

Purple

Innovation,

Inc

114,166‌

53,508

PVH

Corp

3,978,320‌

35,835

Ralph

Lauren

Corp

4,032,513‌

5,014

Rocky

Brands,

Inc

61,572‌

111,211

(a)

Skechers

U.S.A.,

Inc

(Class

A)

5,362,594‌

45,632

(a)

Skyline

Champion

Corp

2,675,404‌

39,576

Smith

&

Wesson

Brands,

Inc

582,954‌

10,334

(a),(b)

Snap

One

Holdings

Corp

77,402‌

97,889

(a)

Sonos,

Inc

1,055,243‌

59,762

Steven

Madden

Ltd

1,959,596‌

31,019

Sturm

Ruger

&

Co,

Inc

1,716,902‌

202,096

Tapestry,

Inc

5,569,766‌

108,743

(a)

Taylor

Morrison

Home

Corp

4,167,032‌

133,539

Tempur

Sealy

International,

Inc

5,332,212‌

84,307

Toll

Brothers,

Inc

5,961,348‌

29,160

(a)

TopBuild

Corp

6,670,642‌

16,458

(a)

Traeger,

Inc

43,285‌

87,328

(a)

Tri

Pointe

Homes,

Inc

2,188,440‌

142,219

(a)

Under

Armour,

Inc

(Class

A)

974,200‌

152,950

(a)

Under

Armour,

Inc

(Class

C)

983,468‌

305,186

VF

Corp

4,495,390‌

46,617

(a)

Vista

Outdoor,

Inc

1,171,019‌

52,704

(a),(b)

Vizio

Holding

Corp

268,263‌

42,903

(a),(b)

Vuzix

Corp

139,435‌

44,369

Whirlpool

Corp

4,639,223‌

60,869

Wolverine

World

Wide,

Inc

489,995‌

45

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

87,376

(a)

YETI

Holdings,

Inc

$

3,715,228‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

406,473,725‌

CONSUMER

SERVICES

-

2

.3

%

42,715

(a)

Accel

Entertainment,

Inc

420,743‌

192,723

ADT,

Inc

1,090,812‌

39,603

(a)

Adtalem

Global

Education,

Inc

2,051,435‌

361,133

(a)

Airbnb,

Inc

42,718,423‌

203,957

Aramark

5,492,562‌

54,031

(a)

BALLY'S

CORP

492,763‌

2,687

(a)

Biglari

Holdings,

Inc

(B

Shares)

397,058‌

16,236

(a)

BJ's

Restaurants,

Inc

417,590‌

101,155

Bloomin'

Brands,

Inc

2,360,958‌

19,685

Bluegreen

Vacations

Holding

Corp

659,644‌

32,899

(a)

Booking

Holdings,

Inc

91,773,734‌

29,758

(a),(b)

Bowlero

Corp

300,258‌

61,775

Boyd

Gaming

Corp

3,413,069‌

45,535

(a)

Bright

Horizons

Family

Solutions,

Inc

3,372,322‌

33,083

(a)

Brinker

International,

Inc

1,122,175‌

177,460

(a)

Caesars

Entertainment,

Inc

7,078,879‌

889,487

(a)

Carnival

Corp

10,193,521‌

13,917

Carriage

Services,

Inc

300,607‌

81,467

(a)

Carrols

Restaurant

Group,

Inc

468,435‌

13,595

(a),(b)

Cava

Group,

Inc

429,466‌

20,269

(a)

Century

Casinos,

Inc

88,778‌

31,587

Cheesecake

Factory

981,408‌

107,492

(a)

Chegg,

Inc

809,415‌

24,308

(a)

Chipotle

Mexican

Grill,

Inc

(Class

A)

47,210,998‌

27,242

(b)

Choice

Hotels

International,

Inc

3,010,241‌

65,440

Churchill

Downs,

Inc

7,187,930‌

14,551

(a)

Chuy's

Holdings,

Inc

489,787‌

147,520

(a)

Coursera,

Inc

2,557,997‌

17,056

(b)

Cracker

Barrel

Old

Country

Store,

Inc

1,131,836‌

104,438

Darden

Restaurants,

Inc

15,198,862‌

30,838

(a)

Dave

&

Buster's

Entertainment,

Inc

1,077,480‌

49,845

(a)

Denny's

Corp

429,664‌

13,530

Dine

Brands

Global

Inc.

666,894‌

32,781

Domino's

Pizza,

Inc

11,112,431‌

261,738

(a)

DoorDash,

Inc

19,617,263‌

361,692

(a)

DraftKings,

Inc

9,989,933‌

25,768

(a)

Duolingo,

Inc

3,763,416‌

12,211

(a)

El

Pollo

Loco

Holdings,

Inc

101,962‌

9,603

(a)

European

Wax

Center,

Inc

141,836‌

63,702

(a)

Everi

Holdings,

Inc

687,345‌

127,073

(a)

Expedia

Group,

Inc

12,108,786‌

7,261

(a)

First

Watch

Restaurant

Group,

Inc

121,331‌

63,264

(a)

Frontdoor,

Inc

1,830,227‌

67,165

(a)

Full

House

Resorts,

Inc

251,869‌

52,701

(a),(b)

Global

Business

Travel

Group

I

259,816‌

19,659

Golden

Entertainment,

Inc

616,506‌

2,812

Graham

Holdings

Co

1,627,361‌

29,625

(a)

Grand

Canyon

Education,

Inc

3,505,526‌

131,799

H&R

Block,

Inc

5,410,349‌

66,461

(a)

Hilton

Grand

Vacations,

Inc

2,389,273‌

228,976

Hilton

Worldwide

Holdings,

Inc

34,696,733‌

36,903

Hyatt

Hotels

Corp

3,780,343‌

30,674

(a)

Inspired

Entertainment,

Inc

306,127‌

112,880

International

Game

Technology

plc

2,869,410‌

17,265

Jack

in

the

Box,

Inc

1,090,803‌

62,386

(b)

Krispy

Kreme,

Inc

806,651‌

4,466

(a)

Kura

Sushi

USA,

Inc

255,187‌

291,884

Las

Vegas

Sands

Corp

13,852,815‌

151,179

Laureate

Education,

Inc

2,137,671‌

Equity

Index

Fund

October

31,

2023

46

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

36,714

(a)

Life

Time

Group

Holdings,

Inc

$

433,959‌

50,626

(a)

Lindblad

Expeditions

Holdings,

Inc

314,894‌

217,107

Marriott

International,

Inc

(Class

A)

40,937,696‌

31,047

Marriott

Vacations

Worldwide

Corp

2,789,883‌

645,462

McDonald's

Corp

169,220,773‌

277,754

MGM

Resorts

International

9,699,170‌

56,702

(a),(b)

Mister

Car

Wash,

Inc

294,850‌

9,593

Monarch

Casino

&

Resort,

Inc

577,403‌

98,040

(a)

Nerdy,

Inc

301,963‌

84,311

(a)

Noodles

&

Co

179,582‌

360,855

(a),(b)

Norwegian

Cruise

Line

Holdings

Ltd

4,907,628‌

13,723

(a)

ONE

Group

Hospitality,

Inc

60,518‌

39,139

(a)

OneSpaWorld

Holdings

Ltd

410,177‌

24,598

Papa

John's

International,

Inc

1,599,362‌

138,532

(a)

Penn

National

Gaming,

Inc

2,733,236‌

51,762

Perdoceo

Education

Corp

936,375‌

74,794

(a)

Planet

Fitness,

Inc

4,133,864‌

36,820

(a)

Portillo's,

Inc

550,459‌

48,781

(a)

Potbelly

Corp

429,273‌

6,503

RCI

Hospitality

Holdings,

Inc

354,479‌

43,399

Red

Rock

Resorts,

Inc

1,716,430‌

71,691

(a)

Rover

Group,

Inc

462,407‌

201,912

(a)

Royal

Caribbean

Cruises

Ltd

17,108,004‌

102,195

(a)

Rush

Street

Interactive,

Inc

364,836‌

238,986

(a)

Sabre

Corp

836,451‌

75,566

(a)

Scientific

Games

Corp

(Class

A)

5,524,630‌

38,148

(a)

SeaWorld

Entertainment,

Inc

1,643,416‌

140,293

Service

Corp

International

7,634,745‌

27,489

(a)

Shake

Shack,

Inc

1,540,484‌

58,014

(a)

Six

Flags

Entertainment

Corp

1,154,479‌

1,004,373

Starbucks

Corp

92,643,366‌

17,816

Strategic

Education,

Inc

1,466,435‌

41,244

(a)

Stride,

Inc

2,267,595‌

107,220

(a)

Super

Group

SGHC

Ltd

410,653‌

69,949

(a)

Sweetgreen,

Inc

722,573‌

23,787

(a),(b)

Target

Hospitality

Corp

326,595‌

53,249

Texas

Roadhouse,

Inc

(Class

A)

5,406,903‌

63,192

Travel

&

Leisure

Co

2,150,424‌

55,854

(a)

Udemy,

Inc

498,776‌

32,770

Vail

Resorts,

Inc

6,955,432‌

192,997

Wendy's

Co

3,670,803‌

28,297

Wingstop,

Inc

5,171,843‌

82,262

(a)

WW

International,

Inc

643,289‌

68,358

Wyndham

Hotels

&

Resorts,

Inc

4,949,119‌

91,400

Wynn

Resorts

Ltd

8,023,092‌

29,226

(a)

Xponential

Fitness,

Inc

417,055‌

248,145

Yum!

Brands,

Inc

29,990,805‌

TOTAL

CONSUMER

SERVICES

833,292,898‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.8

%

391,303

Albertsons

Cos,

Inc

8,491,275‌

23,900

Andersons,

Inc

1,198,107‌

117,079

(a)

BJ's

Wholesale

Club

Holdings,

Inc

7,975,421‌

34,858

Casey's

General

Stores,

Inc

9,478,239‌

25,883

(a)

Chefs'

Warehouse,

Inc

492,554‌

392,785

Costco

Wholesale

Corp

216,990,145‌

193,885

Dollar

General

Corp

23,080,070‌

184,387

(a)

Dollar

Tree,

Inc

20,483,552‌

85,229

(a)

Grocery

Outlet

Holding

Corp

2,358,286‌

38,586

(a)

HF

Foods

Group,

Inc

155,887‌

9,950

Ingles

Markets,

Inc

(Class

A)

798,189‌

571,326

Kroger

Co

25,921,061‌

10,408

Natural

Grocers

by

Vitamin

Cottage,

Inc

130,829‌

47

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL—continued

136,613

(a)

Performance

Food

Group

Co

$

7,890,767‌

17,346

Pricesmart,

Inc

1,083,952‌

28,101

SpartanNash

Co

631,992‌

87,100

(a)

Sprouts

Farmers

Market,

Inc

3,659,942‌

451,355

Sysco

Corp

30,010,594‌

405,520

Target

Corp

44,927,561‌

41,913

(a)

United

Natural

Foods,

Inc

611,092‌

184,514

(a)

US

Foods

Holding

Corp

7,184,975‌

4,530

Village

Super

Market

(Class

A)

110,849‌

647,654

Walgreens

Boots

Alliance,

Inc

13,652,546‌

1,261,942

Walmart,

Inc

206,213,942‌

14,813

Weis

Markets,

Inc

964,326‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

634,496,153‌

ENERGY

-

4

.7

%

342,819

Antero

Midstream

Corp

4,230,386‌

228,903

(a)

Antero

Resources

Corp

6,738,904‌

275,046

APA

Corp

10,924,827‌

18,418

Arch

Resources,

Inc

2,777,987‌

196,048

Archrock,

Inc

2,483,928‌

37,685

Ardmore

Shipping

Corp

500,834‌

869,879

Baker

Hughes

Co

29,941,235‌

74,590

Berry

Corp

622,826‌

328,074

(a)

Borr

Drilling

Ltd

2,011,094‌

22,773

(a)

Bristow

Group,

Inc

595,286‌

673,704

Cabot

Oil

&

Gas

Corp

18,526,860‌

58,903

Cactus,

Inc

2,764,907‌

61,384

California

Resources

Corp

3,228,185‌

67,249

(a)

Callon

Petroleum

Co

2,511,750‌

27,414

(a)

Centrus

Energy

Corp

1,454,861‌

185,886

ChampionX

Corp

5,725,289‌

213,117

Cheniere

Energy,

Inc

35,466,931‌

118,152

Chesapeake

Energy

Corp

10,170,524‌

1,564,403

Chevron

Corp

227,980,449‌

40,808

Chord

Energy

Corp

6,746,379‌

57,131

(b)

Civitas

Resources,

Inc

4,309,391‌

115,507

(a)

Clean

Energy

Fuels

Corp

403,119‌

155,208

(a)

CNX

Resources

Corp

3,371,118‌

165,087

(b)

Comstock

Resources,

Inc

2,080,096‌

1,071,626

ConocoPhillips

127,309,169‌

29,435

CONSOL

Energy,

Inc

2,704,782‌

38,444

Core

Laboratories,

Inc

823,470‌

37,313

Crescent

Energy

Co

454,472‌

24,649

CVR

Energy,

Inc

807,255‌

64,227

Delek

US

Holdings,

Inc

1,692,381‌

51,319

(a)

Denbury,

Inc

4,561,746‌

573,731

Devon

Energy

Corp

26,718,653‌

104,954

DHT

Holdings,

Inc

1,167,088‌

78,397

(a)

Diamond

Offshore

Drilling,

Inc

972,907‌

155,086

Diamondback

Energy,

Inc

24,863,388‌

28,709

(a)

DMC

Global,

Inc

544,036‌

25,410

Dorian

LPG

Ltd

812,358‌

23,983

(a)

Dril-Quip,

Inc

519,472‌

75,689

DT

Midstream,

Inc

4,084,935‌

33,338

(a)

Earthstone

Energy,

Inc

705,765‌

18,273

(a),(b)

Empire

Petroleum

Corp

152,762‌

153,847

(a),(b)

Encore

Energy

Corp

507,695‌

121,539

(a),(b)

Energy

Fuels,

Inc

973,527‌

518,014

EOG

Resources,

Inc

65,399,267‌

310,899

EQT

Corp

13,175,900‌

366,587

Equitrans

Midstream

Corp

3,251,627‌

14,387

Excelerate

Energy,

Inc

204,583‌

59,737

(a)

Expro

Group

Holdings

NV

940,858‌

Equity

Index

Fund

October

31,

2023

48

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

3,548,490

Exxon

Mobil

Corp

$

375,607,666‌

30,260

FLEX

LNG

Ltd

924,140‌

15,687

(a)

Forum

Energy

Technologies,

Inc

341,506‌

442,305

(a),(b)

Gevo,

Inc

473,266‌

117,985

Golar

LNG

Ltd

2,646,404‌

35,517

(a)

Green

Plains,

Inc

1,043,489‌

9,172

(a)

Gulfport

Energy

Operating

Corp

1,133,751‌

44,445

(a),(b)

Hallador

Energy

Co

621,341‌

760,024

Halliburton

Co

29,899,344‌

111,242

(a)

Helix

Energy

Solutions

Group,

Inc

1,090,172‌

78,305

Helmerich

&

Payne,

Inc

3,098,529‌

246,300

Hess

Corp

35,565,720‌

112,521

HF

Sinclair

Corp

6,231,413‌

4,935

(b)

HighPeak

Energy,

Inc

87,399‌

39,422

International

Seaways,

Inc

1,895,804‌

1,738,639

Kinder

Morgan,

Inc

28,165,952‌

12,940

(b)

Kinetik

Holdings,

Inc

458,594‌

45,147

(a),(b)

KLX

Energy

Services

Holdings,

Inc

464,111‌

359,220

(a)

Kosmos

Energy

Ltd

2,600,753‌

176,225

Liberty

Energy,

Inc

3,471,632‌

128,450

Magnolia

Oil

&

Gas

Corp

2,883,702‌

549,592

Marathon

Oil

Corp

15,009,358‌

368,578

Marathon

Petroleum

Corp

55,747,422‌

84,517

Matador

Resources

Co

5,213,854‌

109,129

Murphy

Oil

Corp

4,896,618‌

10,562

(a)

Nabors

Industries

Ltd

1,031,274‌

6,549

Nacco

Industries,

Inc

(Class

A)

226,268‌

62,441

(b)

New

Fortress

Energy,

Inc

1,891,962‌

114,362

(a)

Newpark

Resources,

Inc

791,385‌

53,635

(a),(b)

NextDecade

Corp

235,458‌

85,964

Noble

Corp

plc

4,013,659‌

168,162

Nordic

American

Tankers

Ltd

771,864‌

77,394

Northern

Oil

and

Gas,

Inc

2,967,286‌

353,109

NOV,

Inc

7,048,056‌

612,663

Occidental

Petroleum

Corp

37,868,700‌

82,766

(a)

Oceaneering

International,

Inc

1,820,024‌

49,464

(a)

Oil

States

International,

Inc

359,109‌

394,255

ONEOK,

Inc

25,705,426‌

218,815

Ovintiv,

Inc

10,503,120‌

70,841

(a)

Par

Pacific

Holdings,

Inc

2,325,002‌

273,456

Patterson-UTI

Energy,

Inc

3,472,891‌

107,116

PBF

Energy,

Inc

5,091,223‌

122,456

Peabody

Energy

Corp

2,888,737‌

274,950

Permian

Resources

Corp

4,006,022‌

406,881

Phillips

66

46,412,916‌

205,050

Pioneer

Natural

Resources

Co

49,006,950‌

19,704

(a),(b)

ProFrac

Holding

Corp

185,612‌

145,202

(a)

ProPetro

Holding

Corp

1,521,717‌

209,680

Range

Resources

Corp

7,514,931‌

38,949

Ranger

Energy

Services,

Inc

452,198‌

12,132

(a)

Rex

American

Resources

Corp

461,137‌

9,029

(b)

Riley

Exploration

Permian,

Inc

285,768‌

186,183

(a),(b)

Ring

Energy,

Inc

323,958‌

176,880

RPC,

Inc

1,471,642‌

18,387

SandRidge

Energy,

Inc

291,434‌

1,257,021

Schlumberger

Ltd

69,965,789‌

40,019

Scorpio

Tankers,

Inc

2,247,067‌

37,559

(a)

SEACOR

Marine

Holdings,

Inc

520,568‌

42,420

(a)

Seadrill

Ltd

1,676,438‌

50,298

Select

Water

Solutions,

Inc

374,217‌

105,783

SFL

Corp

Ltd

1,148,803‌

22,344

(a)

SilverBow

Resources,

Inc

761,930‌

74,455

Sitio

Royalties

Corp

1,840,528‌

49

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

96,934

SM

Energy

Co

$

3,908,379‌

21,978

Solaris

Oilfield

Infrastructure,

Inc

203,077‌

1,044,724

(a)

Southwestern

Energy

Co

7,448,882‌

102,784

(a)

Talos

Energy,

Inc

1,593,152‌

190,147

Targa

Resources

Corp

15,898,191‌

374,932

TechnipFMC

plc

8,068,537‌

110,431

(a)

Teekay

Corp

776,330‌

17,431

Teekay

Tankers

Ltd

866,321‌

681,381

(a),(b)

Tellurian,

Inc

470,153‌

89,720

(a)

Tetra

Technologies,

Inc

425,273‌

4,928

Texas

Pacific

Land

Corp

9,096,842‌

33,955

(a)

Tidewater,

Inc

2,320,824‌

351,294

(a),(b)

Uranium

Energy

Corp

2,090,199‌

142,399

(a)

US

Silica

Holdings,

Inc

1,718,756‌

230,602

Vaalco

Energy,

Inc

1,030,791‌

62,702

(a)

Valaris

Ltd

4,140,840‌

306,021

Valero

Energy

Corp

38,864,667‌

42,077

(a),(b)

Vertex

Energy,

Inc

181,352‌

17,969

(a)

Vital

Energy,

Inc

899,169‌

19,327

Vitesse

Energy,

Inc

457,857‌

105,827

(a)

W&T

Offshore,

Inc

439,182‌

60,923

(a)

Weatherford

International

plc

5,671,322‌

1,073,961

Williams

Cos,

Inc

36,944,258‌

50,146

World

Fuel

Services

Corp

927,701‌

TOTAL

ENERGY

1,692,410,326‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2

.6

%

67,908

Acadia

Realty

Trust

972,443‌

90,150

Agree

Realty

Corp

5,042,991‌

57,396

Alexander

&

Baldwin,

Inc

906,857‌

2,341

Alexander's,

Inc

440,085‌

146,220

Alexandria

Real

Estate

Equities,

Inc

13,617,469‌

24,923

Alpine

Income

Property

Trust,

Inc

383,814‌

42,194

American

Assets

Trust,

Inc

748,943‌

262,742

American

Homes

4

Rent

8,602,173‌

414,096

American

Tower

Corp

73,787,766‌

229,759

Americold

Realty

Trust,

Inc

6,024,281‌

139,049

Apartment

Income

REIT

Corp

4,061,621‌

228,578

(a)

Apartment

Investment

and

Management

Co

1,339,467‌

222,137

Apple

Hospitality

REIT,

Inc

3,483,108‌

51,087

Armada

Hoffler

Properties,

Inc

508,827‌

123,442

AvalonBay

Communities,

Inc

20,459,277‌

122,117

Boston

Properties,

Inc

6,541,808‌

32,707

Braemar

Hotels

&

Resorts,

Inc

85,692‌

55,932

Brandywine

Realty

Trust

209,186‌

242,399

Brixmor

Property

Group,

Inc

5,039,475‌

187,485

Broadstone

Net

Lease,

Inc

2,652,913‌

15,761

BRT

Apartments

Corp

255,801‌

92,462

Camden

Property

Trust

7,848,175‌

130,418

CareTrust

REIT,

Inc

2,806,595‌

20,606

CBL

&

Associates

Properties,

Inc

427,162‌

21,625

Centerspace

1,050,542‌

43,190

Chatham

Lodging

Trust

399,507‌

45,741

City

Office

REIT,

Inc

174,273‌

8,117

Clipper

Realty,

Inc

38,556‌

21,137

Community

Healthcare

Trust,

Inc

605,998‌

117,806

Corporate

Office

Properties

Trust

2,685,977‌

115,041

Cousins

Properties,

Inc

2,055,783‌

372,729

Crown

Castle,

Inc

34,656,342‌

21,615

CTO

Realty

Growth,

Inc

349,947‌

197,821

CubeSmart

6,743,718‌

157,600

DiamondRock

Hospitality

Co

1,218,248‌

259,167

Digital

Realty

Trust,

Inc

32,230,008‌

Equity

Index

Fund

October

31,

2023

50

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)—continued

246,911

Diversified

Healthcare

Trust

$

511,106‌

181,095

Douglas

Emmett,

Inc

2,030,075‌

97,623

Easterly

Government

Properties,

Inc

1,050,423‌

33,861

EastGroup

Properties,

Inc

5,527,808‌

106,758

Empire

State

Realty

Trust,

Inc

863,672‌

84,659

EPR

Properties

3,614,939‌

83,026

Equinix,

Inc

60,579,091‌

121,517

Equity

Commonwealth

2,301,532‌

155,258

Equity

Lifestyle

Properties,

Inc

10,215,976‌

325,948

Equity

Residential

18,034,703‌

111,554

Essential

Properties

Realty

Trust,

Inc

2,448,610‌

52,849

Essex

Property

Trust,

Inc

11,305,458‌

182,425

Extra

Space

Storage,

Inc

18,897,406‌

21,102

Farmland

Partners,

Inc

219,883‌

73,495

Federal

Realty

Investment

Trust

6,702,009‌

103,143

First

Industrial

Realty

Trust,

Inc

4,362,949‌

99,649

Four

Corners

Property

Trust,

Inc

2,122,524‌

222,395

Gaming

and

Leisure

Properties,

Inc

10,094,509‌

40,489

Getty

Realty

Corp

1,077,817‌

37,072

Gladstone

Commercial

Corp

443,010‌

22,586

Gladstone

Land

Corp

308,525‌

54,522

Global

Medical

REIT,

Inc

472,161‌

178,326

Global

Net

Lease,

Inc

1,415,908‌

319,675

Healthcare

Realty

Trust,

Inc

4,587,336‌

477,469

Healthpeak

Properties,

Inc

7,424,643‌

40,583

Hersha

Hospitality

Trust

402,583‌

104,113

Highwoods

Properties,

Inc

1,862,582‌

606,824

Host

Marriott

Corp

9,393,636‌

32,582

(a)

Howard

Hughes

Holdings,

Inc

2,161,164‌

171,592

Hudson

Pacific

Properties,

Inc

765,300‌

160,640

Independence

Realty

Trust,

Inc

1,990,330‌

28,462

Innovative

Industrial

Properties,

Inc

2,044,425‌

51,970

InvenTrust

Properties

Corp

1,304,447‌

541,412

Invitation

Homes,

Inc

16,074,522‌

264,353

Iron

Mountain,

Inc

15,615,332‌

90,901

JBG

SMITH

Properties

1,169,896‌

85,729

Kilroy

Realty

Corp

2,450,135‌

467,614

Kimco

Realty

Corp

8,388,995‌

166,378

Kite

Realty

Group

Trust

3,547,179‌

76,767

Lamar

Advertising

Co

6,315,621‌

294,002

Lexington

Realty

Trust

2,325,556‌

56,334

LTC

Properties,

Inc

1,780,718‌

209,540

Macerich

Co

2,036,729‌

75,492

Mack-Cali

Realty

Corp

1,010,838‌

728,388

Medical

Properties

Trust,

Inc

3,481,695‌

95,805

Mid-America

Apartment

Communities,

Inc

11,319,361‌

58,686

National

Health

Investors,

Inc

2,936,647‌

169,734

National

Retail

Properties,

Inc

6,166,436‌

97,859

National

Storage

Affiliates

Trust

2,790,939‌

79,116

NETSTREIT

Corp

1,127,403‌

35,587

NexPoint

Diversified

Real

Estate

Trust

280,426‌

17,985

NexPoint

Residential

Trust,

Inc

485,415‌

42,738

Office

Properties

Income

Trust

191,894‌

213,315

Omega

Healthcare

Investors,

Inc

7,060,726‌

17,267

One

Liberty

Properties,

Inc

317,713‌

38,649

Orion

Office

REIT,

Inc

184,742‌

132,558

Outfront

Media,

Inc

1,293,766‌

5,946

Paramount

Group,

Inc

25,449‌

261,208

Park

Hotels

&

Resorts,

Inc

3,011,728‌

23,540

Peakstone

Realty

Trust

304,137‌

101,003

Pebblebrook

Hotel

Trust

1,204,966‌

86,759

Phillips

Edison

&

Co,

Inc

3,063,460‌

226,971

Physicians

Realty

Trust

2,464,905‌

51

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)—continued

246,426

Piedmont

Office

Realty

Trust,

Inc

$

1,283,879‌

22,498

Plymouth

Industrial

REIT,

Inc

448,610‌

15,321

Postal

Realty

Trust,

Inc

202,850‌

64,590

PotlatchDeltic

Corp

2,767,682‌

813,700

Prologis,

Inc

81,980,275‌

140,562

Public

Storage,

Inc

33,553,555‌

155,244

Rayonier,

Inc

3,918,359‌

574,905

Realty

Income

Corp

27,238,999‌

158,447

Regency

Centers

Corp

9,548,016‌

93,857

Retail

Opportunity

Investments

Corp

1,101,881‌

164,137

Rexford

Industrial

Realty,

Inc

7,097,284‌

205,265

RLJ

Lodging

Trust

1,929,491‌

75,917

RPT

Realty

819,144‌

52,448

Ryman

Hospitality

Properties,

Inc

4,489,549‌

210,350

Sabra

Health

Care

REIT,

Inc

2,869,174‌

42,812

Safehold,

Inc

696,551‌

9,694

Saul

Centers,

Inc

337,060‌

94,823

SBA

Communications

Corp

19,782,922‌

150,290

Service

Properties

Trust

1,089,603‌

290,480

Simon

Property

Group,

Inc

31,920,847‌

151,631

SITE

Centers

Corp

1,768,017‌

71,361

SL

Green

Realty

Corp

2,090,164‌

121,938

Spirit

Realty

Capital,

Inc

4,388,549‌

133,255

STAG

Industrial,

Inc

4,426,731‌

93,397

Summit

Hotel

Properties,

Inc

526,759‌

101,035

Sun

Communities,

Inc

11,239,133‌

159,255

Sunstone

Hotel

Investors,

Inc

1,481,072‌

104,878

Tanger

Factory

Outlet

Centers,

Inc

2,364,999‌

56,986

Terreno

Realty

Corp

3,036,214‌

285,558

UDR,

Inc

9,083,600‌

37,174

UMH

Properties,

Inc

513,373‌

112,942

Uniti

Group,

Inc

519,533‌

10,070

Universal

Health

Realty

Income

Trust

387,091‌

83,482

Urban

Edge

Properties

1,324,025‌

332,285

Ventas,

Inc

14,108,821‌

905,464

VICI

Properties,

Inc

25,262,446‌

162,331

Vornado

Realty

Trust

3,116,755‌

126,786

Washington

REIT

1,617,789‌

439,934

(c)

Welltower,

Inc

36,782,882‌

655,228

Weyerhaeuser

Co

18,798,491‌

31,390

Whitestone

REIT

312,331‌

184,009

WP

Carey,

Inc

9,872,083‌

92,154

Xenia

Hotels

&

Resorts,

Inc

1,071,751‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

940,587,037‌

FINANCIAL

SERVICES

-

7

.6

%

8,238

AFC

Gamma,

Inc

87,158‌

36,469

Affiliated

Managers

Group,

Inc

4,476,934‌

198,148

(a),(b)

Affirm

Holdings,

Inc

3,489,386‌

484,239

AGNC

Investment

Corp

3,573,684‌

11,267

Alerus

Financial

Corp

195,032‌

251,385

Ally

Financial,

Inc

6,081,003‌

12,218

A-Mark

Precious

Metals,

Inc

330,863‌

527,827

American

Express

Co

77,078,577‌

93,131

Ameriprise

Financial,

Inc

29,296,219‌

414,182

Annaly

Capital

Management,

Inc

6,465,381‌

102,927

Apollo

Commercial

Real

Estate

Finance,

Inc

1,025,153‌

462,352

Apollo

Global

Management,

Inc

35,804,539‌

138,147

Arbor

Realty

Trust,

Inc

1,742,034‌

26,410

Ares

Commercial

Real

Estate

Corp

242,180‌

146,765

Ares

Management

Corp

14,469,561‌

28,935

ARMOUR

Residential

REIT,

Inc

421,583‌

55,250

Artisan

Partners

Asset

Management,

Inc

1,823,250‌

Equity

Index

Fund

October

31,

2023

52

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

17,300

(a)

AssetMark

Financial

Holdings,

Inc

$

413,643‌

3,795

(a),(b)

Atlanticus

Holdings

Corp

111,042‌

39,109

(a)

Avantax,

Inc

1,009,403‌

113,462

(a)

AvidXchange

Holdings,

Inc

980,312‌

14,466

(b)

B

Riley

Financial,

Inc

523,814‌

125,233

(a),(b)

Bakkt

Holdings,

Inc

126,485‌

25,565

Banco

Latinoamericano

de

Exportaciones

S.A.

(Class

E)

577,258‌

690,159

Bank

of

New

York

Mellon

Corp

29,331,758‌

1,621,732

(a)

Berkshire

Hathaway,

Inc

553,545,784‌

241,886

BGC

Group,

Inc

1,419,871‌

132,951

BlackRock,

Inc

81,403,238‌

132,203

Blackstone

Mortgage

Trust,

Inc

2,637,450‌

629,829

Blackstone,

Inc

58,164,708‌

472,035

(a)

Block,

Inc

18,999,409‌

407,422

(b)

Blue

Owl

Capital,

Inc

5,023,513‌

36,876

Bread

Financial

Holdings,

Inc

996,758‌

33,250

Brightsphere

Investment

Group,

Inc

520,695‌

72,747

BrightSpire

Capital,

Inc

411,748‌

64,986

(a)

Cannae

Holdings,

Inc

1,062,521‌

42,561

(a)

Cantaloupe,

Inc

280,051‌

337,617

Capital

One

Financial

Corp

34,197,226‌

194,801

Carlyle

Group,

Inc

5,364,820‌

10,688

Cass

Information

Systems,

Inc

404,113‌

98,023

Cboe

Global

Markets,

Inc

16,064,990‌

1,323,536

Charles

Schwab

Corp

68,876,813‌

289,108

Chimera

Investment

Corp

1,387,718‌

71,387

Claros

Mortgage

Trust,

Inc

744,566‌

317,756

CME

Group,

Inc

67,828,196‌

22,619

Cohen

&

Steers,

Inc

1,181,617‌

145,541

(a)

Coinbase

Global,

Inc

11,224,122‌

46,488

(b)

Compass

Diversified

Trust

798,664‌

147,951

Corebridge

Financial,

Inc

2,959,020‌

5,387

(a)

Credit

Acceptance

Corp

2,167,890‌

2,620

Diamond

Hill

Investment

Group,

Inc

411,602‌

225,347

Discover

Financial

Services

18,496,482‌

21,354

(a)

Donnelley

Financial

Solutions,

Inc

1,162,298‌

19,484

Dynex

Capital,

Inc

195,619‌

39,095

Ellington

Financial,

Inc

470,313‌

33,565

Enact

Holdings,

Inc

925,051‌

19,960

(a)

Encore

Capital

Group,

Inc

752,093‌

28,542

(a)

Enova

International,

Inc

1,138,255‌

317,276

Equitable

Holdings,

Inc

8,430,023‌

112,766

Essent

Group

Ltd

5,327,066‌

37,925

(a)

Euronet

Worldwide,

Inc

2,914,157‌

31,406

Evercore

Partners,

Inc

(Class

A)

4,088,433‌

75,626

EVERTEC,

Inc

2,403,394‌

34,739

Factset

Research

Systems,

Inc

15,003,427‌

8,178

Federal

Agricultural

Mortgage

Corp

(FAMC)

1,214,924‌

515,096

Fidelity

National

Information

Services,

Inc

25,296,365‌

185,025

(a),(b)

Finance

Of

America

Cos,

Inc

192,426‌

29,291

FirstCash

Holdings,

Inc

3,190,376‌

537,231

(a)

Fiserv,

Inc

61,110,026‌

65,715

(a)

FleetCor

Technologies,

Inc

14,797,047‌

80,416

(a)

Flywire

Corp

2,162,386‌

192,308

(a),(b)

Forge

Global

Holdings,

Inc

488,462‌

64,711

Franklin

BSP

Realty

Trust,

Inc

816,006‌

259,566

Franklin

Resources,

Inc

5,915,509‌

23,662

(b)

GCM

Grosvenor,

Inc

190,479‌

233,227

Global

Payments,

Inc

24,773,372‌

284,486

Goldman

Sachs

Group,

Inc

86,372,794‌

40,822

Granite

Point

Mortgage

Trust,

Inc

171,452‌

39,301

(a)

Green

Dot

Corp

439,385‌

40,122

Hamilton

Lane,

Inc

3,375,063‌

53

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

86,811

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc

$

1,487,941‌

41,860

Houlihan

Lokey,

Inc

4,207,767‌

14,780

(a)

I3

Verticals,

Inc

277,125‌

82,877

Interactive

Brokers

Group,

Inc

(Class

A)

6,635,961‌

501,902

Intercontinental

Exchange,

Inc

53,924,351‌

23,706

(a)

International

Money

Express,

Inc

378,348‌

323,852

Invesco

Ltd

4,200,360‌

31,093

Invesco

Mortgage

Capital,

Inc

212,365‌

63,918

Jack

Henry

&

Associates,

Inc

9,011,799‌

90,225

Jackson

Financial,

Inc

3,312,160‌

106,680

Janus

Henderson

Group

plc

2,461,108‌

164,215

Jefferies

Financial

Group,

Inc

5,284,439‌

569,241

KKR

&

Co,

Inc

31,535,951‌

38,895

KKR

Real

Estate

Finance

Trust,

Inc

406,064‌

89,739

Ladder

Capital

Corp

907,261‌

75,192

Lazard

Ltd

(Class

A)

2,088,082‌

91,135

(a)

LendingClub

Corp

472,991‌

8,934

(a)

LendingTree,

Inc

118,197‌

68,899

LPL

Financial

Holdings,

Inc

15,469,204‌

32,375

MarketAxess

Holdings,

Inc

6,920,156‌

420,596

(a)

Marqeta,

Inc

2,174,481‌

744,397

Mastercard,

Inc

(Class

A)

280,153,811‌

13,914

Merchants

Bancorp

415,889‌

119,851

MFA

Financial,

Inc

1,065,475‌

292,825

MGIC

Investment

Corp

4,931,173‌

44,818

Moelis

&

Co

1,866,222‌

141,155

Moody's

Corp

43,475,740‌

1,058,170

Morgan

Stanley

74,939,599‌

23,298

Morningstar,

Inc

5,899,986‌

65,994

(a)

Mr

Cooper

Group,

Inc

3,730,641‌

68,640

MSCI,

Inc

(Class

A)

32,367,192‌

304,030

Nasdaq

Stock

Market,

Inc

15,079,888‌

89,103

Navient

Corp

1,417,629‌

11,253

Nelnet,

Inc

(Class

A)

954,367‌

27,715

(a),(b)

NerdWallet,

Inc

298,768‌

74,821

New

York

Mortgage

Trust,

Inc

582,856‌

76,344

(a)

NMI

Holdings,

Inc

2,088,008‌

180,907

Northern

Trust

Corp

11,923,580‌

108,857

OneMain

Holdings,

Inc

3,911,232‌

76,300

(a)

Open

Lending

Corp

457,037‌

88,465

(a),(b)

OppFi,

Inc

197,277‌

19,230

Orchid

Island

Capital,

Inc

120,764‌

37,029

P10,

Inc

348,813‌

169,691

(a)

Pagseguro

Digital

Ltd

1,198,018‌

32,804

Patria

Investments

Ltd

422,844‌

342,715

(a)

Payoneer

Global,

Inc

1,984,320‌

988,723

(a)

PayPal

Holdings,

Inc

51,215,851‌

25,684

(a)

Paysafe

Ltd

249,649‌

24,785

PennyMac

Financial

Services,

Inc

1,665,552‌

78,042

PennyMac

Mortgage

Investment

Trust

987,231‌

25,308

Perella

Weinberg

Partners

248,272‌

13,027

Piper

Jaffray

Cos

1,821,826‌

18,416

PJT

Partners,

Inc

1,443,078‌

34,184

(a)

PRA

Group,

Inc

420,805‌

50,105

(a)

PROG

Holdings,

Inc

1,372,376‌

133,385

Radian

Group,

Inc

3,379,976‌

166,455

Raymond

James

Financial,

Inc

15,886,465‌

207,645

Ready

Capital

Corp

1,958,092‌

89,598

Redwood

Trust,

Inc

562,675‌

5,861

Regional

Management

Corp

145,704‌

115,576

(a)

Remitly

Global,

Inc

3,112,462‌

63,890

(a)

Repay

Holdings

Corp

382,701‌

441,390

Rithm

Capital

Corp

4,118,169‌

Equity

Index

Fund

October

31,

2023

54

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

647,541

(a)

Robinhood

Markets,

Inc

$

5,918,525‌

99,543

(a),(b)

Rocket

Cos,

Inc

735,623‌

285,313

S&P

Global,

Inc

99,662,684‌

15,960

Sculptor

Capital

Management,

Inc

201,894‌

98,977

SEI

Investments

Co

5,311,106‌

44,800

(a)

Shift4

Payments,

Inc

1,994,496‌

216,148

SLM

Corp

2,809,924‌

796,488

(a),(b)

SoFi

Technologies,

Inc

6,013,484‌

27,739

(a)

Star

Holdings

317,612‌

217,064

Starwood

Property

Trust,

Inc

3,852,886‌

275,967

State

Street

Corp

17,835,747‌

35,681

StepStone

Group,

Inc

1,009,772‌

97,747

Stifel

Financial

Corp

5,571,579‌

240,260

(a)

StoneCo

Ltd

2,382,178‌

12,051

(a)

StoneX

Group,

Inc

1,148,701‌

360,792

Synchrony

Financial

10,120,216‌

191,988

T

Rowe

Price

Group,

Inc

17,374,914‌

119,035

TFS

Financial

Corp

1,411,755‌

306,895

(a)

Toast,

Inc

4,907,251‌

46,946

TPG

RE

Finance

Trust,

Inc

258,672‌

51,595

TPG,

Inc

1,426,086‌

108,603

Tradeweb

Markets,

Inc

9,775,356‌

152,113

Two

Harbors

Investment

Corp

1,766,032‌

62,035

(a),(b)

Upstart

Holdings,

Inc

1,490,701‌

73,381

(b)

UWM

Holdings

Corp

355,898‌

13,156

Victory

Capital

Holdings,

Inc

387,576‌

80,736

Virtu

Financial,

Inc

1,492,809‌

5,596

Virtus

Investment

Partners,

Inc

1,030,951‌

1,435,394

Visa,

Inc

(Class

A)

337,461,129‌

82,007

Voya

Financial,

Inc

5,475,607‌

33,610

Walker

&

Dunlop,

Inc

2,177,928‌

19,463

Waterstone

Financial,

Inc

210,200‌

300,683

Western

Union

Co

3,394,711‌

41,097

(a)

WEX,

Inc

6,841,829‌

100,313

(b)

WisdomTree,

Inc

621,941‌

3,291

(a),(b)

World

Acceptance

Corp

324,558‌

287,738

XP,

Inc

5,754,760‌

TOTAL

FINANCIAL

SERVICES

2,748,681,253‌

FOOD,

BEVERAGE

&

TOBACCO

-

2

.9

%

1,578,153

Altria

Group,

Inc

63,394,406‌

476,349

Archer-Daniels-Midland

Co

34,092,298‌

56,824

B&G

Foods,

Inc

(Class

A)

458,570‌

66,503

(a),(b)

Beyond

Meat,

Inc

397,023‌

9,546

(a)

Boston

Beer

Co,

Inc

(Class

A)

3,187,887‌

38,202

Brown-Forman

Corp

(Class

A)

2,193,559‌

157,376

Brown-Forman

Corp

(Class

B)

8,838,236‌

126,578

Bunge

Ltd

13,414,736‌

14,278

Calavo

Growers,

Inc

361,804‌

29,761

Cal-Maine

Foods,

Inc

1,348,471‌

185,170

Campbell

Soup

Co

7,482,720‌

41,604

(a)

Celsius

Holdings,

Inc

6,327,552‌

3,443,666

Coca-Cola

Co

194,532,692‌

3,853

Coca-Cola

Consolidated

Inc

2,452,088‌

456,707

ConAgra

Brands,

Inc

12,495,503‌

139,974

Constellation

Brands,

Inc

(Class

A)

32,774,912‌

137,434

(a)

Darling

International,

Inc

6,086,952‌

52,252

Dole

plc

596,718‌

34,349

(a)

Duckhorn

Portfolio,

Inc

358,260‌

178,075

Flowers

Foods,

Inc

3,905,185‌

34,730

Fresh

Del

Monte

Produce,

Inc

868,250‌

42,751

(a)

Freshpet,

Inc

2,453,907‌

516,294

General

Mills,

Inc

33,683,021‌

55

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

68,087

(a)

Hain

Celestial

Group,

Inc

$

752,361‌

130,868

Hershey

Co

24,518,120‌

263,487

Hormel

Foods

Corp

8,576,502‌

101,190

(a)

Hostess

Brands,

Inc

3,379,746‌

56,918

Ingredion,

Inc

5,326,386‌

11,507

J&J

Snack

Foods

Corp

1,802,111‌

92,205

J.M.

Smucker

Co

10,496,617‌

7,322

John

B

Sanfilippo

&

Son,

Inc

748,748‌

230,590

Kellogg

Co

11,637,877‌

828,548

Keurig

Dr

Pepper,

Inc

25,129,861‌

734,888

Kraft

Heinz

Co

23,119,576‌

126,597

Lamb

Weston

Holdings,

Inc

11,368,411‌

14,847

Lancaster

Colony

Corp

2,511,667‌

25,397

(b)

Limoneira

Co

362,923‌

217,351

McCormick

&

Co,

Inc

13,888,729‌

12,426

MGP

Ingredients,

Inc

1,176,245‌

27,002

(a)

Mission

Produce,

Inc

254,089‌

153,679

Molson

Coors

Brewing

Co

(Class

B)

8,878,036‌

1,204,684

Mondelez

International,

Inc

79,762,128‌

656,202

(a)

Monster

Beverage

Corp

33,531,922‌

21,109

(a)

National

Beverage

Corp

979,035‌

1,223,181

PepsiCo,

Inc

199,720,994‌

1,382,788

Philip

Morris

International,

Inc

123,289,378‌

41,744

(a)

Pilgrim's

Pride

Corp

1,064,472‌

43,090

(a)

Post

Holdings,

Inc

3,459,265‌

118,935

Primo

Water

Corp

1,553,291‌

234

Seaboard

Corp

820,626‌

4,078

(a)

Seneca

Foods

Corp

222,863‌

74,009

(a)

Simply

Good

Foods

Co

2,759,796‌

68,405

(a)

Sovos

Brands,

Inc

1,485,072‌

75,640

(a)

SunOpta,

Inc

290,458‌

45,643

(a)

TreeHouse

Foods,

Inc

1,902,857‌

10,372

Turning

Point

Brands,

Inc

207,959‌

240,203

Tyson

Foods,

Inc

(Class

A)

11,133,409‌

38,821

Universal

Corp

1,746,945‌

42,921

Utz

Brands,

Inc

523,207‌

153,958

Vector

Group

Ltd

1,582,688‌

27,741

(a)

Vita

Coco

Co,

Inc

751,781‌

17,927

(a)

Vital

Farms,

Inc

198,273‌

34,783

(a),(b)

Westrock

Coffee

Co

286,612‌

57,647

(a)

WK

Kellogg

Co

577,623‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

1,053,483,409‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

5

.5

%

133,195

(a),(b)

23andMe

Holding

Co

112,830‌

1,530,619

Abbott

Laboratories

144,720,026‌

84,411

(a)

Acadia

Healthcare

Co,

Inc

6,205,053‌

85,064

(a)

Accolade,

Inc

552,916‌

100,756

(a),(b)

Accuray,

Inc

265,996‌

55,713

(a)

AdaptHealth

Corp

408,376‌

23,591

(a)

Addus

HomeCare

Corp

1,861,330‌

27,451

(a)

Agiliti,

Inc

154,549‌

237,651

(a),(b)

agilon

health,

Inc

4,277,718‌

13,730

(a),(b)

AirSculpt

Technologies,

Inc

82,380‌

68,375

(a)

Align

Technology,

Inc

12,621,341‌

66,096

(a)

Alignment

Healthcare,

Inc

454,741‌

102,545

(a)

Allscripts

Healthcare

Solutions,

Inc

1,352,569‌

51,158

(a)

Alphatec

Holdings,

Inc

469,630‌

35,847

(a)

Amedisys,

Inc

3,279,642‌

206,241

(a)

American

Well

Corp

241,302‌

144,678

AmerisourceBergen

Corp

26,787,132‌

34,740

(a)

AMN

Healthcare

Services,

Inc

2,635,376‌

26,981

(a)

Angiodynamics,

Inc

167,282‌

Equity

Index

Fund

October

31,

2023

56

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

31,254

(a)

Apollo

Medical

Holdings,

Inc

$

975,437‌

32,847

(a)

AtriCure,

Inc

1,137,820‌

1,088

Atrion

Corp

372,074‌

35,972

(a)

Avanos

Medical,

Inc

660,446‌

158,703

(a)

Aveanna

Healthcare

Holdings,

Inc

219,010‌

27,811

(a)

Axogen,

Inc

104,569‌

46,100

(a)

Axonics,

Inc

2,360,781‌

459,358

Baxter

International,

Inc

14,896,980‌

250,034

Becton

Dickinson

&

Co

63,203,595‌

64,621

(a),(b)

Beyond

Air,

Inc

150,567‌

1,255,783

(a)

Boston

Scientific

Corp

64,283,532‌

182,415

(a)

Brookdale

Senior

Living,

Inc

713,243‌

135,332

(a),(b)

Butterfly

Network,

Inc

114,613‌

232,477

Cardinal

Health,

Inc

21,155,407‌

15,535

(a)

Castle

Biosciences,

Inc

242,657‌

479,295

(a)

Centene

Corp

33,061,769‌

101,278

(a)

Certara,

Inc

1,234,579‌

124,755

(a)

Cerus

Corp

174,657‌

13,534

Chemed

Corp

7,614,905‌

256,829

Cigna

Group

79,411,527‌

20,302

(a)

Computer

Programs

&

Systems,

Inc

286,055‌

22,557

Conmed

Corp

2,198,405‌

43,746

Cooper

Cos,

Inc

13,637,816‌

7,447

(a)

Corvel

Corp

1,444,271‌

36,466

(a)

Cross

Country

Healthcare,

Inc

844,553‌

28,142

(a)

CryoLife,

Inc

358,529‌

12,864

(a),(b)

Cutera,

Inc

40,007‌

26,756

(a),(b)

CVRx,

Inc

357,995‌

1,127,093

CVS

Health

Corp

77,780,688‌

45,269

(a)

DaVita,

Inc

3,496,125‌

19,366

(a)

Definitive

Healthcare

Corp

111,548‌

193,911

Dentsply

Sirona,

Inc

5,896,834‌

343,932

(a)

DexCom,

Inc

30,551,480‌

62,348

(a)

DocGo,

Inc

370,347‌

106,732

(a)

Doximity,

Inc

2,180,535‌

537,620

(a)

Edwards

Lifesciences

Corp

34,257,146‌

210,699

Elevance

Health,

Inc

94,833,513‌

55,794

Embecta

Corp

843,605‌

89,300

Encompass

Health

Corp

5,586,608‌

36,675

(a)

Enhabit,

Inc

270,295‌

34,689

(a)

Enovis

Corp

1,592,225‌

45,165

Ensign

Group,

Inc

4,362,939‌

136,895

(a)

Envista

Holdings

Corp

3,185,547‌

92,363

(a)

Evolent

Health,

Inc

2,256,428‌

99,142

(a)

Figs,

Inc

546,272‌

15,836

(a)

Fulgent

Genetics,

Inc

379,114‌

350,893

GE

HealthCare

Technologies,

Inc

23,358,947‌

43,328

(a)

Glaukos

Corp

2,954,970‌

93,228

(a)

Globus

Medical,

Inc

4,261,452‌

100,347

(a)

Guardant

Health,

Inc

2,596,980‌

41,751

(a)

Haemonetics

Corp

3,558,438‌

180,194

HCA,

Inc

40,749,071‌

38,567

(a)

Health

Catalyst,

Inc

288,867‌

77,387

(a)

HealthEquity,

Inc

5,547,100‌

19,996

HealthStream,

Inc

507,898‌

122,435

(a)

Henry

Schein,

Inc

7,955,826‌

95,038

(a)

Hims

&

Hers

Health,

Inc

568,327‌

220,928

(a)

Hologic,

Inc

14,618,806‌

109,502

Humana,

Inc

57,345,102‌

21,074

(a)

ICU

Medical,

Inc

2,066,516‌

71,881

(a)

IDEXX

Laboratories,

Inc

28,714,303‌

51,855

(a)

Inari

Medical,

Inc

3,148,117‌

39,216

(a),(b)

InfuSystem

Holdings,

Inc

375,689‌

57

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

64,563

(a)

Inmode

Ltd

$

1,233,153‌

20,735

(a),(b)

Innovage

Holding

Corp

112,591‌

13,893

(a)

Inogen,

Inc

62,102‌

26,630

(a)

Inspire

Medical

Systems,

Inc

3,918,871‌

61,135

(a)

Insulet

Corp

8,104,667‌

29,128

(a)

Integer

Holdings

Corp

2,364,320‌

87,550

(a)

Integra

LifeSciences

Holdings

Corp

3,148,298‌

311,418

(a)

Intuitive

Surgical,

Inc

81,660,028‌

12,831

iRadimed

Corp

522,735‌

24,799

(a)

iRhythm

Technologies,

Inc

1,947,218‌

10,108

(a)

Joint

Corp

78,944‌

75,830

Laboratory

Corp

of

America

Holdings

15,145,526‌

60,306

(a)

Lantheus

Holdings,

Inc

3,895,768‌

16,045

LeMaitre

Vascular,

Inc

779,466‌

98,206

(a),(b)

LifeStance

Health

Group,

Inc

572,541‌

48,529

(a)

LivaNova

plc

2,380,347‌

39,912

(a)

Masimo

Corp

3,238,061‌

120,780

McKesson

Corp

54,998,381‌

1,168,078

Medtronic

plc

82,419,584‌

59,903

(a)

Merit

Medical

Systems,

Inc

4,117,732‌

3,546

Mesa

Laboratories,

Inc

332,721‌

9,311

(a)

ModivCare,

Inc

393,297‌

51,502

(a)

Molina

Healthcare,

Inc

17,147,591‌

340,099

(a),(b)

Multiplan

Corp

574,767‌

32,656

(a),(b)

Nano-X

Imaging

Ltd

164,913‌

9,670

National

Healthcare

Corp

651,371‌

13,196

National

Research

Corp

557,663‌

180,245

(a)

Neogen

Corp

2,683,848‌

100,310

(a)

NeoGenomics,

Inc

1,406,346‌

25,545

(a)

Nevro

Corp

368,614‌

41,810

(a)

NextGen

Healthcare,

Inc

1,000,095‌

91,637

(a)

Novocure

Ltd

1,218,772‌

36,495

(a)

Omnicell,

Inc

1,297,032‌

299,751

(a),(b)

Opko

Health,

Inc

374,689‌

12,320

(a)

OptimizeRx

Corp

99,299‌

150,265

(a)

Option

Care

Health,

Inc

4,166,848‌

54,102

(a)

OraSure

Technologies,

Inc

279,166‌

24,415

(a)

Orthofix

Medical,

Inc

269,542‌

10,294

(a)

OrthoPediatrics

Corp

251,791‌

33,381

(a)

Outset

Medical,

Inc

118,169‌

54,182

(a)

Owens

&

Minor,

Inc

776,428‌

95,239

(a),(b)

P3

Health

Partners,

Inc

136,192‌

35,588

(a)

Paragon

28,

Inc

307,124‌

65,175

Patterson

Cos,

Inc

1,985,231‌

61,546

(a)

Pediatrix

Medical

Group,

Inc

705,317‌

31,176

(a)

Pennant

Group,

Inc

338,883‌

30,855

(a)

Penumbra,

Inc

5,897,933‌

17,969

(a)

PetIQ,

Inc

337,278‌

34,961

(a)

Phreesia,

Inc

477,567‌

132,347

Premier,

Inc

2,543,709‌

113,231

(a)

Privia

Health

Group,

Inc

2,380,116‌

31,282

(a),(b)

PROCEPT

BioRobotics

Corp

838,045‌

57,755

(a)

Progyny,

Inc

1,782,319‌

133,733

(a)

Project

Roadrunner

Parent,

Inc

1,576,712‌

18,481

(a)

Pulmonx

Corp

162,448‌

107,131

Quest

Diagnostics,

Inc

13,937,743‌

46,743

(a)

QuidelOrtho

Corp

2,855,062‌

72,993

(a)

Quipt

Home

Medical

Corp

345,257‌

31,900

(a)

RadNet,

Inc

860,024‌

128,377

Resmed,

Inc

18,129,400‌

24,262

(a)

RxSight,

Inc

537,161‌

46,518

(a)

Schrodinger,

Inc

1,009,441‌

84,676

Select

Medical

Holdings

Corp

1,924,686‌

Equity

Index

Fund

October

31,

2023

58

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

15,510

(a)

Semler

Scientific,

Inc

$

452,427‌

382,587

(a),(b)

Sharecare,

Inc

401,716‌

31,551

(a)

Shockwave

Medical,

Inc

6,507,709‌

23,620

(a)

SI-BONE,

Inc

401,776‌

43,444

(a),(b)

Silk

Road

Medical,

Inc

326,264‌

17,254

Simulations

Plus,

Inc

608,549‌

48,121

(a)

STAAR

Surgical

Co

2,012,420‌

89,960

STERIS

plc

18,889,801‌

313,959

Stryker

Corp

84,838,001‌

61,036

(a)

Surgery

Partners,

Inc

1,411,763‌

12,089

(a)

SurModics,

Inc

356,142‌

16,050

(a)

Tactile

Systems

Technology,

Inc

175,266‌

67,537

(a)

Tandem

Diabetes

Care,

Inc

1,168,390‌

124,576

(a)

Teladoc

Health,

Inc

2,060,487‌

40,335

Teleflex,

Inc

7,451,891‌

96,496

(a)

Tenet

Healthcare

Corp

5,181,835‌

28,749

(a),(b)

TransMedics

Group,

Inc

1,077,513‌

39,187

(a)

Treace

Medical

Concepts,

Inc

393,046‌

7,098

(a)

UFP

Technologies,

Inc

1,106,720‌

824,683

UnitedHealth

Group,

Inc

441,667,228‌

50,337

Universal

Health

Services,

Inc

(Class

B)

6,336,925‌

10,256

US

Physical

Therapy,

Inc

862,632‌

1,493

Utah

Medical

Products,

Inc

118,723‌

27,524

(a)

Varex

Imaging

Corp

496,808‌

129,531

(a)

Veeva

Systems,

Inc

24,961,919‌

78,424

(a)

Vicarious

Surgical,

Inc

32,350‌

43,337

(a)

Viemed

Healthcare,

Inc

273,456‌

186,832

Zimmer

Biomet

Holdings,

Inc

19,507,129‌

33,278

(a)

Zimvie,

Inc

234,943‌

18,221

(a),(b)

Zynex,

Inc

161,802‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

1,978,400,220‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.5

%

72,467

(a),(b)

Beauty

Health

Co

293,491‌

123,209

(a)

BellRing

Brands,

Inc

5,387,930‌

8,367

(a)

Central

Garden

&

Pet

Co

365,052‌

30,727

(a)

Central

Garden

and

Pet

Co

(Class

A)

1,219,555‌

218,567

Church

&

Dwight

Co,

Inc

19,876,483‌

107,931

Clorox

Co

12,703,479‌

730,146

Colgate-Palmolive

Co

54,848,568‌

361,993

(a)

Coty,

Inc

3,391,874‌

41,696

Edgewell

Personal

Care

Co

1,455,190‌

49,283

(a)

elf

Beauty,

Inc

4,565,084‌

47,539

Energizer

Holdings,

Inc

1,501,282‌

203,943

Estee

Lauder

Cos

(Class

A)

26,282,134‌

79,731

(a)

Herbalife

Ltd

1,136,167‌

13,468

Inter

Parfums,

Inc

1,711,918‌

1,507,567

Kenvue,

Inc

28,040,746‌

301,071

Kimberly-Clark

Corp

36,020,134‌

8,543

Medifast,

Inc

590,834‌

9,397

(a)

Nature's

Sunshine

Products,

Inc

168,206‌

89,497

Nu

Skin

Enterprises,

Inc

(Class

A)

1,699,548‌

18,572

Oil-Dri

Corp

of

America

1,063,804‌

96,295

(a)

Olaplex

Holdings,

Inc

136,739‌

2,090,689

Procter

&

Gamble

Co

313,666,071‌

79,915

Reynolds

Consumer

Products,

Inc

2,032,238‌

32,523

Spectrum

Brands

Holdings,

Inc

2,449,632‌

9,434

(a)

USANA

Health

Sciences,

Inc

429,719‌

10,397

WD-40

Co

2,197,926‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

523,233,804‌

INSURANCE

-

2

.4

%

533,808

Aflac,

Inc

41,695,743‌

59

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

229,795

Allstate

Corp

$

29,443,633‌

53,101

(a)

AMBAC

Financial

Group,

Inc

644,115‌

62,680

American

Equity

Investment

Life

Holding

Co

3,319,533‌

65,517

American

Financial

Group,

Inc

7,164,939‌

631,341

American

International

Group,

Inc

38,707,517‌

14,885

Amerisafe,

Inc

758,688‌

179,171

Aon

plc

55,435,507‌

312,147

(a)

Arch

Capital

Group

Ltd

27,056,902‌

58,358

Argo

Group

International

Holdings

Ltd

1,741,403‌

43,360

(b)

Assurant,

Inc

6,456,304‌

53,340

Assured

Guaranty

Ltd

3,328,416‌

74,863

Axis

Capital

Holdings

Ltd

4,274,677‌

61,731

(a)

Brighthouse

Financial,

Inc

2,796,414‌

217,381

Brown

&

Brown,

Inc

15,090,589‌

76,674

(a)

BRP

Group,

Inc

1,604,787‌

363,908

Chubb

Ltd

78,101,935‌

129,513

Cincinnati

Financial

Corp

12,908,561‌

24,499

CNA

Financial

Corp

989,760‌

96,172

CNO

Financial

Group,

Inc

2,229,267‌

545

Crawford

&

Co

4,987‌

3,527

Donegal

Group,

Inc

(Class

A)

49,801‌

62,690

(a)

eHealth,

Inc

537,880‌

20,967

Employers

Holdings,

Inc

796,746‌

9,371

(a)

Enstar

Group

Ltd

2,220,646‌

37,734

Everest

Re

Group

Ltd

14,928,325‌

15,656

F&G

Annuities

&

Life,

Inc

480,483‌

230,229

Fidelity

National

Financial,

Inc

8,999,652‌

98,532

First

American

Financial

Corp

5,068,486‌

184,852

Gallagher

(Arthur

J.)

&

Co

43,530,797‌

548,402

(a)

Genworth

Financial,

Inc

(Class

A)

3,284,928‌

78,672

Globe

Life,

Inc

9,154,274‌

27,359

(a)

Goosehead

Insurance,

Inc

1,774,778‌

24,981

(a)

Greenlight

Capital

Re

Ltd

(Class

A)

278,538‌

29,706

Hanover

Insurance

Group,

Inc

3,481,840‌

264,389

Hartford

Financial

Services

Group,

Inc

19,419,372‌

4,132

(b)

HCI

Group,

Inc

243,664‌

57,150

Horace

Mann

Educators

Corp

1,813,370‌

738

Investors

Title

Co

106,132‌

36,673

James

River

Group

Holdings

Ltd

504,254‌

47,055

Kemper

Corp

1,876,553‌

18,754

Kinsale

Capital

Group,

Inc

6,262,148‌

44,494

(a),(b)

Lemonade,

Inc

486,764‌

161,930

Lincoln

National

Corp

3,525,216‌

173,627

Loews

Corp

11,113,864‌

11,823

(a)

Markel

Corp

17,385,958‌

441,801

Marsh

&

McLennan

Cos,

Inc

83,787,560‌

53,327

(a)

MBIA,

Inc

366,890‌

21,627

Mercury

General

Corp

667,842‌

577,011

Metlife,

Inc

34,626,430‌

1,802

National

Western

Life

Group,

Inc

862,978‌

5,548

(a)

NI

Holdings,

Inc

70,404‌

248,042

Old

Republic

International

Corp

6,791,390‌

309,295

(a)

Oscar

Health,

Inc

1,583,590‌

19,410

(a)

Palomar

Holdings,

Inc

972,053‌

35,060

Primerica,

Inc

6,702,070‌

202,011

Principal

Financial

Group

13,672,104‌

42,244

ProAssurance

Corp

718,148‌

513,657

Progressive

Corp

81,204,035‌

315,043

Prudential

Financial,

Inc

28,807,532‌

57,218

Reinsurance

Group

of

America,

Inc

(Class

A)

8,552,374‌

45,821

RenaissanceRe

Holdings

Ltd

10,061,833‌

39,552

RLI

Corp

5,269,908‌

75,489

(a)

Ryan

Specialty

Holdings,

Inc

3,261,125‌

Equity

Index

Fund

October

31,

2023

60

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

12,520

Safety

Insurance

Group,

Inc

$

941,128‌

56,689

Selective

Insurance

Group,

Inc

5,901,892‌

86,670

(a)

SiriusPoint

Ltd

853,700‌

20,595

(a)

Skyward

Specialty

Insurance

Group,

Inc

579,749‌

19,531

Stewart

Information

Services

Corp

852,919‌

13,676

Tiptree,

Inc

206,644‌

200,061

Travelers

Cos,

Inc

33,498,214‌

51,436

(a),(b)

Trupanion,

Inc

1,059,582‌

12,454

United

Fire

Group,

Inc

250,824‌

86,394

(a),(b)

United

Insurance

Holdings

Corp

647,091‌

21,860

Universal

Insurance

Holdings,

Inc

342,328‌

175,445

Unum

Group

8,579,261‌

173,562

W.R.

Berkley

Corp

11,701,550‌

2,176

White

Mountains

Insurance

Group

Ltd

3,113,312‌

92,594

Willis

Towers

Watson

plc

21,841,999‌

TOTAL

INSURANCE

869,426,605‌

MATERIALS

-

2

.7

%

117,043

(a),(b)

5E

Advanced

Materials,

Inc

263,347‌

20,558

AdvanSix,

Inc

566,373‌

195,290

Air

Products

&

Chemicals,

Inc

55,157,708‌

101,519

Albemarle

Corp

12,870,579‌

143,228

Alcoa

Corp

3,672,366‌

121,178

(a)

Allegheny

Technologies,

Inc

4,576,893‌

14,037

Alpha

Metallurgical

Resources,

Inc

3,087,578‌

1,341,949

Amcor

plc

11,929,927‌

21,560

American

Vanguard

Corp

201,802‌

58,735

Aptargroup,

Inc

7,181,528‌

14,592

(a),(d)

Ardagh

Group

S.A.

71,574‌

126,036

(b)

Ardagh

Metal

Packaging

S.A.

424,741‌

42,481

Ashland,

Inc

3,255,319‌

62,214

(a)

Aspen

Aerogels,

Inc

480,292‌

69,345

Avery

Dennison

Corp

12,070,884‌

70,844

Avient

Corp

2,240,087‌

172,888

(a)

Axalta

Coating

Systems

Ltd

4,534,852‌

32,189

Balchem

Corp

3,741,649‌

261,774

Ball

Corp

12,604,418‌

101,421

Berry

Global

Group,

Inc

5,578,155‌

47,966

Cabot

Corp

3,188,780‌

29,630

(b)

Caledonia

Mining

Corp

plc

328,004‌

35,519

Carpenter

Technology

Corp

2,227,752‌

89,864

Celanese

Corp

(Series

A)

10,290,327‌

44,567

(a)

Century

Aluminum

Co

294,588‌

171,056

CF

Industries

Holdings,

Inc

13,646,848‌

7,496

Chase

Corp

952,442‌

122,499

Chemours

Co

2,953,451‌

12,528

(a)

Clearwater

Paper

Corp

423,572‌

455,953

(a)

Cleveland-Cliffs,

Inc

7,650,891‌

185,110

(a)

Coeur

Mining,

Inc

464,626‌

116,251

Commercial

Metals

Co

4,916,255‌

26,808

Compass

Minerals

International,

Inc

660,549‌

123,107

(a)

Constellium

SE

1,945,091‌

623,192

Corteva,

Inc

30,000,463‌

95,240

Crown

Holdings,

Inc

7,676,344‌

132,891

(a)

Dakota

Gold

Corp

382,726‌

214,737

(a),(b)

Danimer

Scientific,

Inc

307,074‌

619,413

Dow,

Inc

29,942,424‌

408,991

DuPont

de

Nemours,

Inc

29,807,264‌

30,583

Eagle

Materials,

Inc

4,707,030‌

100,895

Eastman

Chemical

Co

7,539,883‌

225,857

Ecolab,

Inc

37,885,253‌

155,720

(a)

Ecovyst,

Inc

1,432,624‌

181,420

Element

Solutions,

Inc

3,307,287‌

61

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

109,761

FMC

Corp

$

5,839,285‌

1,247,152

Freeport-McMoRan,

Inc

(Class

B)

42,128,795‌

23,566

FutureFuel

Corp

154,357‌

1,342,373

(a),(b)

Ginkgo

Bioworks

Holdings,

Inc

1,839,051‌

171,982

(a)

Glatfelter

Corp

297,529‌

278,912

Graphic

Packaging

Holding

Co

5,999,397‌

20,180

Greif,

Inc

(Class

A)

1,281,430‌

5,616

Greif,

Inc

(Class

B)

359,761‌

46,815

H.B.

Fuller

Co

3,096,812‌

14,458

Hawkins,

Inc

830,323‌

7,087

Haynes

International,

Inc

304,918‌

557,591

Hecla

Mining

Co

2,269,395‌

158,395

Huntsman

Corp

3,695,355‌

183,487

(a),(b)

i-80

Gold

Corp

256,882‌

29,963

(a)

Ingevity

Corp

1,206,910‌

19,888

Innospec,

Inc

1,949,024‌

215,328

International

Flavors

&

Fragrances,

Inc

14,717,669‌

299,276

International

Paper

Co

10,094,579‌

7,140

(a)

Intrepid

Potash,

Inc

142,015‌

37,532

(a),(b)

Ivanhoe

Electric,

Inc

384,328‌

11,630

Kaiser

Aluminum

Corp

660,584‌

49,319

(a)

Knife

River

Corp

2,481,732‌

14,468

Koppers

Holdings,

Inc

529,095‌

29,170

Kronos

Worldwide,

Inc

201,273‌

435,772

Linde

plc

166,534,627‌

140,093

(a),(b)

Livent

Corp

2,043,957‌

53,366

Louisiana-Pacific

Corp

2,736,608‌

91,950

(a)

LSB

Industries,

Inc

837,664‌

223,395

LyondellBasell

Industries

NV

20,159,165‌

54,097

Martin

Marietta

Materials,

Inc

22,122,427‌

17,661

Materion

Corp

1,712,764‌

28,271

Minerals

Technologies,

Inc

1,528,330‌

299,071

Mosaic

Co

9,713,826‌

100,937

(a),(b)

MP

Materials

Corp

1,655,367‌

25,893

Myers

Industries,

Inc

434,226‌

5,385

NewMarket

Corp

2,596,378‌

1,018,452

Newmont

Goldcorp

Corp

38,161,396‌

175,621

(a)

Novagold

Resources,

Inc

618,186‌

220,976

Nucor

Corp

32,658,043‌

123,701

(a)

O-I

Glass,

Inc

1,911,180‌

111,865

Olin

Corp

4,778,873‌

12,612

Olympic

Steel,

Inc

640,311‌

83,951

(a),(b)

Origin

Materials,

Inc

82,986‌

41,831

Orion

S.A.

849,169‌

78,609

Packaging

Corp

of

America

12,031,107‌

29,712

Pactiv

Evergreen,

Inc

256,117‌

94,769

(a)

Perimeter

Solutions

S.A.

303,261‌

13,423

(a)

Piedmont

Lithium,

Inc

368,730‌

209,423

PPG

Industries,

Inc

25,710,862‌

92,338

(a),(b)

PureCycle

Technologies,

Inc

410,904‌

10,040

Quaker

Chemical

Corp

1,442,949‌

3,719

Ramaco

Resources,

Inc

46,525‌

18,601

Ramaco

Resources,

Inc

219,120‌

26,216

(a)

Ranpak

Holdings

Corp

82,843‌

45,189

(a)

Rayonier

Advanced

Materials,

Inc

125,174‌

53,177

Reliance

Steel

&

Aluminum

Co

13,527,165‌

55,206

Royal

Gold,

Inc

5,759,642‌

115,315

RPM

International,

Inc

10,524,800‌

19,086

Ryerson

Holding

Corp

554,448‌

19,139

Schnitzer

Steel

Industries,

Inc

(Class

A)

434,647‌

43,911

Schweitzer-Mauduit

International,

Inc

575,234‌

53,045

Scotts

Miracle-Gro

Co

(Class

A)

2,357,320‌

138,369

Sealed

Air

Corp

4,260,381‌

Equity

Index

Fund

October

31,

2023

62

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

45,956

Sensient

Technologies

Corp

$

2,592,837‌

209,134

Sherwin-Williams

Co

49,817,810‌

84,315

Silgan

Holdings,

Inc

3,377,659‌

87,326

Sonoco

Products

Co

4,524,360‌

77,837

Southern

Copper

Corp

5,518,643‌

245,749

SSR

Mining,

Inc

3,410,996‌

141,158

Steel

Dynamics,

Inc

15,034,739‌

25,522

Stepan

Co

1,909,046‌

89,404

(a)

Summit

Materials,

Inc

2,941,392‌

62,507

SunCoke

Energy,

Inc

594,442‌

27,538

Sylvamo

Corp

1,219,933‌

33,322

(a)

TimkenSteel

Corp

677,436‌

19,788

Tredegar

Corp

88,650‌

32,674

Trimas

Corp

791,038‌

29,516

Trinseo

plc

182,704‌

75,937

Tronox

Holdings

plc

811,766‌

807

United

States

Lime

&

Minerals,

Inc

159,778‌

208,248

United

States

Steel

Corp

7,057,525‌

6,593

Valhi,

Inc

73,578‌

151,725

Valvoline,

Inc

4,501,681‌

119,188

Vulcan

Materials

Co

23,419,250‌

50,615

Warrior

Met

Coal,

Inc

2,466,469‌

24,539

Westlake

Chemical

Corp

2,830,819‌

224,893

Westrock

Co

8,080,405‌

25,062

Worthington

Industries,

Inc

1,544,320‌

TOTAL

MATERIALS

982,556,107‌

MEDIA

&

ENTERTAINMENT

-

7

.1

%

80,989

(a),(b)

Advantage

Solutions,

Inc

186,275‌

4,503,662

(a)

Alphabet,

Inc

564,308,849‌

5,262,111

(a)

Alphabet,

Inc

(Class

A)

652,922,733‌

23,685

(a)

AMC

Networks,

Inc

279,483‌

36,516

(a)

Atlanta

Braves

Holdings,

Inc

1,270,026‌

6,134

(a)

Atlanta

Braves

Holdings,

Inc

232,540‌

12,671

(a)

Boston

Omaha

Corp

180,308‌

116,459

(a)

Bumble,

Inc

1,565,209‌

4,644

Cable

One,

Inc

2,553,596‌

72,900

(a)

Cargurus,

Inc

1,256,067‌

50,674

(a)

Cars.com,

Inc

771,765‌

91,447

(a)

Charter

Communications,

Inc

36,834,852‌

82,557

(a)

Cinemark

Holdings,

Inc

1,361,365‌

499,375

(a)

Clear

Channel

Outdoor

Holdings,

Inc

549,312‌

3,612,612

Comcast

Corp

(Class

A)

149,164,749‌

455

(a)

Daily

Journal

Corp

132,355‌

101,782

(a)

DHI

Group,

Inc

278,883‌

248,085

(a),(b)

DISH

Network

Corp

(Class

A)

1,215,616‌

245,952

Electronic

Arts,

Inc

30,446,398‌

40,007

Entravision

Communications

Corp

(Class

A)

143,225‌

54,751

(a)

Eventbrite,

Inc

453,338‌

14,208

(a)

EverQuote,

Inc

122,047‌

40,458

(a)

EW

Scripps

Co

(Class

A)

221,305‌

244,648

Fox

Corp

(Class

A)

7,434,853‌

116,246

Fox

Corp

(Class

B)

3,244,426‌

245,139

(a),(b)

fuboTV,

Inc

593,236‌

99,963

(a)

Gannett

Co,

Inc

233,913‌

237,143

Gray

Television,

Inc

1,546,172‌

57,550

(a)

IAC,

Inc

2,448,752‌

37,647

(a)

IMAX

Corp

685,552‌

25,095

(a)

Integral

Ad

Science

Holding

Corp

288,091‌

340,395

Interpublic

Group

of

Cos,

Inc

9,667,218‌

54,238

John

Wiley

&

Sons,

Inc

(Class

A)

1,641,784‌

100,537

(a)

Liberty

Broadband

Corp

8,375,737‌

18,787

(a)

Liberty

Broadband

Corp

(Class

A)

1,565,333‌

63

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

18,107

(a)

Liberty

Media

Corp-Liberty

Formula

One

$

1,042,058‌

172,671

(a)

Liberty

Media

Corp-Liberty

Formula

One

11,170,087‌

20,078

(a)

Liberty

Media

Corp-Liberty

Live

627,237‌

42,962

(a)

Liberty

Media

Corp-Liberty

Live

1,369,199‌

77,217

(a)

Liberty

Media

Corp-Liberty

SiriusXM

1,891,044‌

142,289

(a)

Liberty

Media

Corp-Liberty

SiriusXM

3,493,195‌

44,591

(a),(b)

Lions

Gate

Entertainment

Corp

(Class

A)

350,485‌

114,064

(a)

Lions

Gate

Entertainment

Corp

(Class

B)

850,917‌

139,050

(a)

Live

Nation,

Inc

11,126,781‌

35,049

(a)

Madison

Square

Garden

Entertainment

Corp

1,068,294‌

18,866

(a)

Madison

Square

Garden

Sports

Corp

3,172,129‌

93,497

(a)

Magnite,

Inc

620,820‌

24,627

(b)

Marcus

Corp

382,704‌

234,733

(a)

Match

Group,

Inc

8,121,762‌

12,782

(a)

MediaAlpha,

Inc

131,399‌

1,958,633

(a)

Meta

Platforms,

Inc

590,077,364‌

387,849

(a)

NetFlix,

Inc

159,673,555‌

153,857

New

York

Times

Co

(Class

A)

6,201,976‌

293,922

News

Corp

(Class

A)

6,078,307‌

95,168

News

Corp

(Class

B)

2,040,402‌

29,527

Nexstar

Media

Group,

Inc

4,136,142‌

172,073

Omnicom

Group,

Inc

12,889,988‌

5,903

Paramount

Global

(Class

A)

82,052‌

484,703

Paramount

Global

(Class

B)

5,273,569‌

533,901

(a)

Pinterest,

Inc

15,952,962‌

61,226

(a)

Playstudios,

Inc

173,270‌

37,469

(a)

Playtika

Holding

Corp

314,740‌

32,246

(a)

PubMatic,

Inc

363,412‌

41,070

(a)

QuinStreet,

Inc

464,502‌

397,892

(a)

ROBLOX

Corp

12,656,945‌

113,610

(a)

Roku,

Inc

6,767,748‌

22,422

Scholastic

Corp

827,372‌

17,136

Shutterstock,

Inc

697,092‌

37,146

(b)

Sinclair,

Inc

403,777‌

628,669

(b)

Sirius

XM

Holdings,

Inc

2,690,703‌

19,376

(a)

Sphere

Entertainment

Co

637,664‌

126,474

(a)

Spotify

Technology

S.A.

20,837,856‌

46,094

(a)

Stagwell,

Inc

189,907‌

144,314

(a)

Take-Two

Interactive

Software,

Inc

19,301,997‌

19,150

(a)

TechTarget,

Inc

482,197‌

212,771

TEGNA,

Inc

3,087,307‌

19,655

(a)

Thryv

Holdings,

Inc

342,587‌

39,891

(a)

TKO

Group

Holdings,

Inc

3,270,264‌

117,635

(a)

TripAdvisor,

Inc

1,736,293‌

85,679

(a)

TrueCar,

Inc

156,793‌

106,282

(a)

Vimeo,

Inc

327,349‌

1,615,994

(a)

Walt

Disney

Co

131,848,950‌

1,942,316

(a)

Warner

Bros

Discovery,

Inc

19,306,621‌

39,638

(a)

WideOpenWest,

Inc

279,052‌

56,188

(a)

Yelp,

Inc

2,370,572‌

39,402

(a)

Ziff

Davis,

Inc

2,382,245‌

61,686

(a)

ZipRecruiter,

Inc

656,956‌

267,681

(a)

ZoomInfo

Technologies,

Inc

3,469,146‌

TOTAL

MEDIA

&

ENTERTAINMENT

2,568,043,108‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

7

.5

%

83,340

(a)

10X

Genomics,

Inc

2,940,235‌

16,011

(a),(b)

2seventy

bio,

Inc

39,067‌

30,824

(a)

4D

Molecular

Therapeutics,

Inc

331,050‌

53,283

(a)

89bio,

Inc

394,294‌

1,564,721

AbbVie,

Inc

220,907,311‌

88,298

(a)

Acadia

Pharmaceuticals,

Inc

1,992,886‌

44,287

(a)

Aclaris

Therapeutics,

Inc

220,549‌

Equity

Index

Fund

October

31,

2023

64

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

50,315

(a),(b)

Actinium

Pharmaceuticals,

Inc

$

280,758‌

118,561

(a)

Adaptive

Biotechnologies

Corp

526,411‌

107,838

(a),(b)

Adicet

Bio,

Inc

142,346‌

144,109

(a)

ADMA

Biologics,

Inc

487,088‌

23,668

(a),(b)

Aerovate

Therapeutics,

Inc

251,117‌

543,168

(a)

Agenus,

Inc

434,534‌

259,425

Agilent

Technologies,

Inc

26,816,762‌

42,139

(a)

Agios

Pharmaceuticals,

Inc

885,340‌

38,286

(a)

Akero

Therapeutics,

Inc

456,369‌

7,279

(a),(b)

Akoya

Biosciences,

Inc

25,476‌

40,430

(a),(b)

Aldeyra

Therapeutics,

Inc

69,135‌

42,029

(a)

Alector,

Inc

218,551‌

130,128

(a)

Alkermes

plc

3,147,796‌

85,288

(a)

Allakos,

Inc

162,900‌

49,804

(a),(b)

Allogene

Therapeutics,

Inc

140,447‌

93,315

(a),(b)

Allovir,

Inc

139,972‌

111,150

(a)

Alnylam

Pharmaceuticals,

Inc

16,872,570‌

33,586

(a)

Alpine

Immune

Sciences,

Inc

343,921‌

98,040

(a)

Altimmune,

Inc

236,276‌

56,031

(a),(b)

ALX

Oncology

Holdings,

Inc

403,423‌

471,745

Amgen,

Inc

120,625,197‌

265,666

(a)

Amicus

Therapeutics,

Inc

2,914,356‌

87,784

(a)

Amneal

Pharmaceuticals,

Inc

339,724‌

28,740

(a)

Amphastar

Pharmaceuticals,

Inc

1,301,060‌

40,220

(a)

Amylyx

Pharmaceuticals,

Inc

655,988‌

15,332

(a),(b)

AnaptysBio,

Inc

250,065‌

45,302

(a),(b)

Anavex

Life

Sciences

Corp

252,785‌

16,713

(a)

ANI

Pharmaceuticals,

Inc

1,031,861‌

10,900

(a)

Anika

Therapeutics,

Inc

212,550‌

117,303

(a)

Annexon,

Inc

266,278‌

89,116

(a)

Apellis

Pharmaceuticals,

Inc

4,336,385‌

62,957

(a),(b)

Arbutus

Biopharma

Corp

115,211‌

35,592

(a)

Arcellx,

Inc

1,254,618‌

41,342

(a)

Arcturus

Therapeutics

Holdings,

Inc

789,632‌

33,215

(a)

Arcus

Biosciences,

Inc

521,808‌

72,609

(a)

Arcutis

Biotherapeutics,

Inc

163,370‌

185,422

(a)

Ardelyx,

Inc

732,417‌

112,071

(a)

Arrowhead

Pharmaceuticals,

Inc

2,755,826‌

34,621

(a)

Arvinas,

Inc

558,091‌

64,725

(a)

Assertio

Holdings,

Inc

139,159‌

40,817

(a),(b)

Astria

Therapeutics,

Inc

203,677‌

146,157

(a)

Atea

Pharmaceuticals,

Inc

475,010‌

21,983

(a),(b)

Aura

Biosciences,

Inc

179,381‌

103,661

(a)

Aurinia

Pharmaceuticals,

Inc

760,872‌

568,078

(a)

Avantor,

Inc

9,901,600‌

45,157

(a)

Avid

Bioservices,

Inc

277,716‌

76,838

(a)

Avidity

Biosciences,

Inc

395,716‌

24,845

(a),(b)

Avita

Medical,

Inc

231,307‌

34,184

(a),(b)

Axsome

Therapeutics,

Inc

2,128,980‌

49,100

(a),(b)

Beam

Therapeutics,

Inc

1,037,974‌

104,167

(a),(b)

BioAtla,

Inc

153,125‌

132,467

(a)

BioCryst

Pharmaceuticals,

Inc

727,244‌

125,092

(a)

Biogen,

Inc

29,714,354‌

54,714

(a)

Biohaven

Ltd

1,450,468‌

17,772

(a)

BioLife

Solutions,

Inc

179,497‌

169,848

(a)

BioMarin

Pharmaceutical,

Inc

13,834,120‌

16,998

(a),(b)

Biomea

Fusion,

Inc

173,720‌

18,401

(a)

Bio-Rad

Laboratories,

Inc

(Class

A)

5,065,427‌

129,981

Bio-Techne

Corp

7,100,862‌

72,596

(a),(b)

BioVie,

Inc

316,519‌

117,035

(a),(b)

Bluebird

Bio,

Inc

345,253‌

55,914

(a)

Blueprint

Medicines

Corp

3,291,098‌

120,902

(a)

Bridgebio

Pharma,

Inc

3,148,288‌

65

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

1,868,560

Bristol-Myers

Squibb

Co

$

96,286,897‌

56,174

(a)

Brooks

Automation,

Inc

2,553,108‌

88,086

Bruker

BioSciences

Corp

5,020,902‌

32,181

(a)

Cabaletta

Bio,

Inc

458,901‌

31,788

(a)

Cara

Therapeutics,

Inc

41,007‌

36,257

(a)

CareDx,

Inc

196,150‌

134,961

(a)

Caribou

Biosciences,

Inc

489,908‌

46,512

(b)

Carisma

Therapeutics,

Inc

139,536‌

31,847

(a),(b)

Cassava

Sciences,

Inc

641,717‌

162,660

(a)

Catalent,

Inc

5,593,877‌

73,978

(a)

Catalyst

Pharmaceuticals,

Inc

918,067‌

33,029

(a)

Celldex

Therapeutics,

Inc

776,842‌

32,063

(a),(b)

Century

Therapeutics,

Inc

49,056‌

43,334

(a)

Cerevel

Therapeutics

Holdings,

Inc

1,024,849‌

42,197

(a)

Charles

River

Laboratories

International,

Inc

7,104,287‌

62,303

(a),(d)

Chinook

Therapeutics,

Inc

24,298‌

320,000

(a),(b)

Citius

Pharmaceuticals,

Inc

240,832‌

179,971

(a)

Codexis,

Inc

298,752‌

87,080

(a)

Cogent

Biosciences,

Inc

710,573‌

148,265

(a)

Coherus

Biosciences,

Inc

496,688‌

27,222

(a)

Collegium

Pharmaceutical,

Inc

592,351‌

119,048

(a),(b)

Compass

Therapeutics,

Inc

214,286‌

72,910

(a)

Corcept

Therapeutics,

Inc

2,047,313‌

72,860

(a),(b)

CorMedix,

Inc

253,553‌

73,540

(a)

Crinetics

Pharmaceuticals,

Inc

2,153,987‌

29,602

(a)

CryoPort,

Inc

287,139‌

99,010

(a)

Cue

Biopharma,

Inc

207,921‌

18,878

(a)

Cullinan

Oncology,

Inc

176,132‌

83,091

(a)

Cymabay

Therapeutics,

Inc

1,361,031‌

93,386

(a)

Cytek

Biosciences,

Inc

393,155‌

69,213

(a)

Cytokinetics,

Inc

2,412,765‌

582,320

Danaher

Corp

111,817,086‌

53,454

(a)

Day

One

Biopharmaceuticals,

Inc

632,361‌

28,615

(a)

Deciphera

Pharmaceuticals,

Inc

343,094‌

101,941

(a)

Denali

Therapeutics,

Inc

1,919,549‌

90,410

(a)

Design

Therapeutics,

Inc

184,436‌

7,551

(a),(b)

Disc

Medicine,

Inc

345,911‌

103,603

(a),(b)

Dynavax

Technologies

Corp

1,472,199‌

72,367

(a)

Dyne

Therapeutics,

Inc

510,187‌

10,847

(a)

Eagle

Pharmaceuticals,

Inc

148,929‌

72,629

(a)

Edgewise

Therapeutics,

Inc

464,826‌

76,006

(a)

Editas

Medicine,

Inc

507,720‌

406,143

(a)

Elanco

Animal

Health,

Inc

3,578,120‌

749,587

Eli

Lilly

&

Co

415,218,727‌

16,480

(a)

Enanta

Pharmaceuticals,

Inc

148,650‌

19,880

(a),(b)

Enliven

Therapeutics,

Inc

246,313‌

304,824

(a)

EQRx,

Inc

664,516‌

194,484

(a),(b)

Erasca,

Inc

449,258‌

21,778

(a)

Evolus,

Inc

165,513‌

155,554

(a)

Exact

Sciences

Corp

9,580,571‌

312,634

(a)

Exelixis,

Inc

6,437,134‌

161,291

(a),(b)

Eyenovia,

Inc

209,678‌

73,139

(a)

EyePoint

Pharmaceuticals,

Inc

440,297‌

127,905

(a)

Fate

Therapeutics,

Inc

231,508‌

14,252

(a),(b)

Foghorn

Therapeutics,

Inc

47,744‌

75,830

(a)

Fortrea

Holdings,

Inc

2,153,572‌

75,916

(a)

Generation

Bio

Co

71,232‌

423,644

(a)

Geron

Corp

804,924‌

1,100,798

Gilead

Sciences,

Inc

86,456,675‌

163,935

(a),(b)

Gritstone

bio,

Inc

311,477‌

104,921

(a)

Halozyme

Therapeutics,

Inc

3,553,674‌

22,623

(a)

Harmony

Biosciences

Holdings,

Inc

532,545‌

21,426

(a),(b)

Harrow

Health,

Inc

307,142‌

Equity

Index

Fund

October

31,

2023

66

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

67,454

(a)

Harvard

Bioscience,

Inc

$

296,123‌

69,717

(a)

ICON

plc

17,008,159‌

50,751

(a),(b)

Icosavax,

Inc

312,119‌

45,648

(a)

Ideaya

Biosciences,

Inc

1,240,256‌

21,368

(a),(b)

IGM

Biosciences,

Inc

84,190‌

136,690

(a)

Illumina,

Inc

14,956,620‌

228,670

(a),(b)

ImmunityBio,

Inc

718,024‌

221,449

(a)

Immunogen,

Inc

3,290,732‌

68,031

(a)

Immunovant,

Inc

2,248,425‌

160,716

(a)

Incyte

Corp

8,667,414‌

20,258

(a)

Inhibrx,

Inc

313,391‌

49,340

(a)

Innoviva,

Inc

612,309‌

69,687

(a),(b)

Inozyme

Pharma,

Inc

206,970‌

105,641

(a)

Insmed,

Inc

2,647,363‌

86,438

(a)

Intellia

Therapeutics,

Inc

2,165,272‌

80,009

(a)

Intercept

Pharmaceuticals,

Inc

1,514,570‌

83,591

(a)

Intra-Cellular

Therapies,

Inc

4,159,488‌

127,693

(a)

Ionis

Pharmaceuticals,

Inc

5,652,969‌

179,545

(a)

Iovance

Biotherapeutics,

Inc

685,862‌

162,861

(a)

IQVIA

Holdings,

Inc

29,450,155‌

115,967

(a)

Ironwood

Pharmaceuticals,

Inc

1,040,224‌

14,777

(a)

iTeos

Therapeutics,

Inc

148,657‌

24,181

(a),(b)

Janux

Therapeutics,

Inc

155,242‌

53,458

(a)

Jazz

Pharmaceuticals

plc

6,790,235‌

2,137,305

Johnson

&

Johnson

317,047,824‌

16,585

(a),(b)

KalVista

Pharmaceuticals,

Inc

140,807‌

29,756

(a)

Karuna

Therapeutics,

Inc

4,957,647‌

249,164

(a),(b)

Karyopharm

Therapeutics,

Inc

216,773‌

11,474

(a)

Keros

Therapeutics,

Inc

327,468‌

195,318

(a),(b)

Kezar

Life

Sciences,

Inc

140,844‌

21,130

(a)

Kiniksa

Pharmaceuticals

Ltd

322,232‌

75,293

(a)

Kodiak

Sciences,

Inc

109,175‌

18,034

(a)

Krystal

Biotech,

Inc

2,107,634‌

46,117

(a)

Kura

Oncology,

Inc

389,689‌

24,582

(a)

Kymera

Therapeutics,

Inc

286,872‌

55,069

(a),(b)

Lexicon

Pharmaceuticals,

Inc

68,286‌

10,998

(a)

Ligand

Pharmaceuticals,

Inc

(Class

B)

575,085‌

270,271

(a),(b)

Lineage

Cell

Therapeutics,

Inc

308,109‌

61,737

(a)

Liquidia

Corp

401,908‌

256,359

(a),(b)

Lyell

Immunopharma,

Inc

424,274‌

79,601

(a)

MacroGenics,

Inc

415,517‌

12,049

(a)

Madrigal

Pharmaceuticals,

Inc

1,582,998‌

180,755

(a)

MannKind

Corp

775,439‌

84,535

(a)

Maravai

LifeSciences

Holdings,

Inc

579,910‌

43,593

(a),(b)

Marinus

Pharmaceuticals,

Inc

302,535‌

68,933

(a),(b)

MaxCyte,

Inc

204,042‌

21,610

(a)

Medpace

Holdings,

Inc

5,244,099‌

76,280

(a)

MeiraGTx

Holdings

plc

344,786‌

2,253,223

Merck

&

Co,

Inc

231,406,002‌

19,553

(a)

Mettler-Toledo

International,

Inc

19,263,616‌

81,129

(a)

MiMedx

Group,

Inc

532,206‌

52,753

(a)

Mirati

Therapeutics,

Inc

2,929,374‌

29,905

(a),(b)

Mirum

Pharmaceuticals,

Inc

820,294‌

294,753

(a)

Moderna,

Inc

22,389,438‌

31,239

(a),(b)

Monte

Rosa

Therapeutics,

Inc

106,213‌

25,612

(a)

Morphic

Holding,

Inc

510,959‌

63,827

(a)

Myriad

Genetics,

Inc

994,425‌

117,649

(a),(b)

NanoString

Technologies,

Inc

162,356‌

88,465

(a)

Natera,

Inc

3,491,714‌

96,721

(a)

Nautilus

Biotechnology,

Inc

247,606‌

81,997

(a)

Neurocrine

Biosciences,

Inc

9,096,747‌

21,913

(a)

NGM

Biopharmaceuticals,

Inc

18,624‌

34,251

(a),(b)

Nkarta,

Inc

69,530‌

67

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

88,065

(a),(b)

Novavax,

Inc

$

586,513‌

22,935

(a)

Nurix

Therapeutics,

Inc

128,207‌

16,743

(a)

Nuvalent,

Inc

872,143‌

159,982

(a)

Nuvation

Bio,

Inc

154,159‌

54,186

(a)

Ocular

Therapeutix,

Inc

154,430‌

47,004

(a)

Olema

Pharmaceuticals,

Inc

624,683‌

4,311

(a),(d)

OmniAb

Operations,

Inc

43‌

4,311

(a),(d)

OmniAb

Operations,

Inc

43‌

53,871

(a)

OmniAb,

Inc

245,113‌

64,901

(a),(b)

Organogenesis

Holdings,

Inc

145,378‌

240,835

Organon

&

Co

3,561,950‌

61,634

(a),(b)

ORIC

Pharmaceuticals,

Inc

412,948‌

208,152

(a)

Pacific

Biosciences

of

California,

Inc

1,286,379‌

32,703

(a)

Pacira

BioSciences,

Inc

924,187‌

67,002

(a),(b)

PDS

Biotechnology

Corp

279,398‌

107,305

PerkinElmer,

Inc

8,890,219‌

128,070

Perrigo

Co

plc

3,539,855‌

4,988,532

Pfizer,

Inc

152,449,538‌

53,110

(a),(b)

Phathom

Pharmaceuticals,

Inc

493,923‌

15,122

Phibro

Animal

Health

Corp

165,132‌

47,531

(a)

Pliant

Therapeutics,

Inc

697,280‌

84,589

(a)

PMV

Pharmaceuticals,

Inc

127,729‌

99,452

(a)

Point

Biopharma

Global,

Inc

1,259,062‌

167,365

(a),(b)

Poseida

Therapeutics,

Inc

338,077‌

293,619

(a),(b)

Precigen,

Inc

331,789‌

38,952

(a)

Prestige

Consumer

Healthcare,

Inc.

2,312,191‌

32,206

(a),(b)

Prime

Medicine,

Inc

209,017‌

53,801

(a),(b)

ProKidney

Corp

87,696‌

38,156

(a)

Protagonist

Therapeutics,

Inc

554,788‌

176,992

(a),(b)

Protalix

BioTherapeutics,

Inc

295,577‌

31,004

(a)

Prothena

Corp

plc

1,130,406‌

72,077

(a)

PTC

Therapeutics,

Inc

1,351,444‌

225,961

(a)

QIAGEN

NV

8,457,720‌

22,482

(a)

Quanterix

Corp

488,309‌

104,376

(a),(b)

Quantum-Si,

Inc

125,251‌

29,554

(a)

RAPT

Therapeutics,

Inc

388,635‌

117,341

(a),(b)

Recursion

Pharmaceuticals,

Inc

619,560‌

92,084

(a)

Regeneron

Pharmaceuticals,

Inc

71,815,391‌

27,410

(a)

REGENXBIO,

Inc

353,315‌

100,692

(a)

Relay

Therapeutics,

Inc

664,567‌

50,015

(a)

Repligen

Corp

6,730,018‌

36,059

(a)

Replimune

Group,

Inc

525,380‌

86,595

(a)

Revance

Therapeutics,

Inc

683,235‌

84,294

(a)

REVOLUTION

Medicines,

Inc

1,669,021‌

44,362

(a),(b)

Rhythm

Pharmaceuticals,

Inc

1,025,206‌

195,741

(a)

Rigel

Pharmaceuticals,

Inc

158,022‌

53,934

(a)

Rocket

Pharmaceuticals,

Inc

976,205‌

310,106

(a)

Roivant

Sciences

Ltd

2,679,316‌

330,537

Royalty

Pharma

plc

8,881,529‌

38,930

(a)

Sage

Therapeutics,

Inc

729,159‌

102,323

(a),(b)

Sana

Biotechnology,

Inc

302,876‌

423,937

(a)

Sangamo

Therapeutics

Inc

267,165‌

77,287

(a)

Sarepta

Therapeutics,

Inc

5,202,188‌

45,403

(a)

Scholar

Rock

Holding

Corp

533,939‌

36,497

(a),(b)

scPharmaceuticals,

Inc

195,259‌

126,405

(a)

Seagen,

Inc

26,900,248‌

70,074

(a),(b)

Seer,

Inc

114,921‌

330,579

(a),(b)

Selecta

Biosciences,

Inc

413,224‌

105,643

(a),(b)

Seres

Therapeutics,

Inc

161,634‌

46,544

(b)

SIGA

Technologies,

Inc

237,374‌

63,898

(a),(b)

Silverback

Therapeutics,

Inc

228,116‌

115,598

(a)

SomaLogic,

Inc

257,784‌

60,297

(a),(b),(d)

Sorrento

Therapeutics,

Inc

110,099‌

Equity

Index

Fund

October

31,

2023

68

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

72,803

(a)

Sotera

Health

Co

$

921,686‌

49,435

(a)

SpringWorks

Therapeutics,

Inc

1,132,062‌

13,804

(a),(b)

Stoke

Therapeutics,

Inc

52,593‌

162,602

(a),(b)

Summit

Therapeutics,

Inc

315,448‌

34,780

(a)

Supernus

Pharmaceuticals,

Inc

829,503‌

105,693

(a)

Sutro

Biopharma,

Inc

290,656‌

43,274

(a)

Syndax

Pharmaceuticals,

Inc

609,298‌

7,966

(a)

Tarsus

Pharmaceuticals,

Inc

113,436‌

69,998

(a),(b)

Tenaya

Therapeutics,

Inc

127,396‌

37,282

(a),(b)

Terns

Pharmaceuticals,

Inc

196,103‌

119,821

(a)

TG

Therapeutics,

Inc

926,216‌

38,181

(a),(b)

Theravance

Biopharma,

Inc

360,429‌

340,896

Thermo

Fisher

Scientific,

Inc

151,620,314‌

41,280

(a)

Theseus

Pharmaceuticals,

Inc

94,944‌

43,527

(a)

Travere

Therapeutics,

Inc

282,055‌

63,216

(a)

Twist

Bioscience

Corp

996,284‌

63,606

(a)

Ultragenyx

Pharmaceutical,

Inc

2,251,652‌

38,931

(a)

United

Therapeutics

Corp

8,676,163‌

34,218

(a)

UroGen

Pharma

Ltd

383,584‌

42,360

(a)

Vanda

Pharmaceuticals,

Inc

185,537‌

78,154

(a)

Vaxcyte,

Inc

3,759,207‌

40,027

(a)

Ventyx

Biosciences,

Inc

577,189‌

90,012

(a)

Vera

Therapeutics,

Inc

937,925‌

49,459

(a)

Veracyte,

Inc

1,024,790‌

34,319

(a)

Vericel

Corp

1,207,342‌

66,556

(a),(b)

Verrica

Pharmaceuticals,

Inc

244,926‌

230,670

(a)

Vertex

Pharmaceuticals,

Inc

83,527,914‌

30,628

(a),(b)

Verve

Therapeutics,

Inc

368,761‌

1,057,708

Viatris,

Inc

9,413,601‌

82,409

(a)

Viking

Therapeutics,

Inc

808,432‌

56,000

(a)

Vir

Biotechnology,

Inc

444,080‌

69,084

(a)

Viridian

Therapeutics,

Inc

863,550‌

28,592

(a)

Voyager

Therapeutics,

Inc

187,849‌

49,469

(a)

Waters

Corp

11,799,841‌

95,239

(a),(b)

WaVe

Life

Sciences

Ltd

512,386‌

64,445

West

Pharmaceutical

Services,

Inc

20,512,199‌

195,122

(a)

X4

Pharmaceuticals,

Inc

156,195‌

42,278

(a)

Xencor,

Inc

733,523‌

159,431

(a),(b)

Xeris

Biopharma

Holdings,

Inc

291,759‌

79,410

(a)

Y-mAbs

Therapeutics,

Inc

424,049‌

29,698

(a)

Zentalis

Pharmaceuticals,

Inc

485,859‌

64,413

(a),(b)

Zevra

Therapeutics,

Inc

288,570‌

406,655

Zoetis,

Inc

63,844,835‌

47,733

(a),(b)

Zymeworks,

Inc

335,086‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

2,714,593,637‌

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0

.1

%

95,865

(a)

Anywhere

Real

Estate,

Inc

447,690‌

282,529

(a)

CBRE

Group,

Inc

19,590,561‌

439,803

(a)

Compass,

Inc

870,810‌

131,968

(a)

Cushman

&

Wakefield

plc

972,604‌

114,921

DigitalBridge

Group,

Inc

1,821,498‌

54,804

Douglas

Elliman,

Inc

97,003‌

52,530

(b)

eXp

World

Holdings,

Inc

697,073‌

23,024

(a)

Forestar

Group,

Inc

546,820‌

6,108

(a)

FRP

Holdings,

Inc

328,549‌

44,481

(a)

Jones

Lang

LaSalle,

Inc

5,690,010‌

159,327

Kennedy-Wilson

Holdings,

Inc

2,050,538‌

20,898

Marcus

&

Millichap,

Inc

599,773‌

137,987

Newmark

Group,

Inc

782,386‌

677,795

(a)

Opendoor

Technologies,

Inc

1,287,810‌

22,322

Re/Max

Holdings,

Inc

240,185‌

111,352

(a),(b)

Redfin

Corp

518,900‌

69

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT—continued

11,719

RMR

Group,

Inc

$

263,912‌

37,446

St.

Joe

Co

1,746,481‌

23,298

(a)

Tejon

Ranch

Co

361,585‌

44,172

(a)

Zillow

Group,

Inc

(Class

A)

1,569,431‌

136,927

(a)

Zillow

Group,

Inc

(Class

C)

4,963,604‌

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

45,447,223‌

RETAILING

-

3

.9

%

7,978,361

(a)

Amazon.com,

Inc

1,061,840,066‌

898,780

Home

Depot,

Inc

255,873,678‌

517,021

Lowe's

Cos,

Inc

98,528,692‌

TOTAL

RETAILING

1,416,242,436‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

6

.3

%

37,003

(a)

ACM

Research,

Inc

503,241‌

1,418,718

(a)

Advanced

Micro

Devices,

Inc

139,743,723‌

22,266

(a),(b)

Aehr

Test

Systems

524,587‌

67,906

(a)

Allegro

MicroSystems,

Inc

1,762,840‌

15,596

(a)

Alpha

&

Omega

Semiconductor

Ltd

369,937‌

29,077

(a)

Ambarella,

Inc

1,308,174‌

99,807

Amkor

Technology,

Inc

2,081,974‌

452,988

Analog

Devices,

Inc

71,268,602‌

752,079

Applied

Materials,

Inc

99,537,656‌

15,755

(a),(b)

Atomera,

Inc

100,832‌

27,218

(a)

Axcelis

Technologies,

Inc

3,470,295‌

358,178

Broadcom,

Inc

301,360,224‌

17,022

(a)

Ceva,

Inc

292,268‌

47,822

(a)

Cirrus

Logic,

Inc

3,200,726‌

44,780

(a)

Cohu,

Inc

1,349,669‌

76,663

(a)

Credo

Technology

Group

Holding

Ltd

1,090,148‌

41,045

(a)

Diodes,

Inc

2,671,209‌

122,828

(a)

Enphase

Energy,

Inc

9,774,652‌

128,417

Entegris,

Inc

11,305,833‌

96,611

(a)

First

Solar,

Inc

13,762,237‌

63,486

(a)

Formfactor,

Inc

2,150,906‌

83,485

(a),(b)

GLOBALFOUNDRIES,

Inc

4,142,526‌

20,679

(a)

Ichor

Holdings

Ltd

501,672‌

20,869

(a),(b)

Impinj,

Inc

1,348,346‌

120,636

(a),(b)

indie

Semiconductor,

Inc

589,910‌

3,704,310

Intel

Corp

135,207,315‌

121,774

KLA

Corp

57,197,248‌

47,086

Kulicke

&

Soffa

Industries,

Inc

1,959,248‌

118,089

Lam

Research

Corp

69,462,312‌

116,584

(a)

Lattice

Semiconductor

Corp

6,483,236‌

42,484

(a)

MACOM

Technology

Solutions

Holdings,

Inc

2,996,821‌

745,659

Marvell

Technology,

Inc

35,210,018‌

21,827

(a),(b)

Maxeon

Solar

Technologies

Ltd

136,200‌

86,600

(a)

MaxLinear,

Inc

1,316,320‌

467,986

Microchip

Technology,

Inc

33,362,722‌

968,157

Micron

Technology,

Inc

64,740,659‌

53,916

MKS

Instruments,

Inc

3,540,124‌

41,146

Monolithic

Power

Systems,

Inc

18,175,834‌

89,644

(a)

Navitas

Semiconductor

Corp

469,734‌

4,291

NVE

Corp

291,788‌

2,103,967

Nvidia

Corp

857,997,743‌

381,159

(a)

ON

Semiconductor

Corp

23,875,800‌

47,617

(a)

Onto

Innovation,

Inc

5,350,722‌

36,332

(a)

PDF

Solutions,

Inc

963,888‌

49,870

(a)

Photronics,

Inc

915,613‌

46,429

Power

Integrations,

Inc

3,218,923‌

84,782

(a)

Qorvo,

Inc

7,411,642‌

990,344

QUALCOMM,

Inc

107,937,593‌

95,117

(a)

Rambus,

Inc

5,167,707‌

Equity

Index

Fund

October

31,

2023

70

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

50,739

(a)

Semtech

Corp

$

708,316‌

28,202

(a)

Silicon

Laboratories,

Inc

2,599,660‌

21,464

(a)

SiTime

Corp

2,142,107‌

3,754

(a)

SkyWater

Technology,

Inc

18,507‌

146,579

Skyworks

Solutions,

Inc

12,714,262‌

35,747

(a)

SMART

Global

Holdings,

Inc

489,734‌

30,232

(a)

Synaptics,

Inc

2,529,209‌

137,274

Teradyne,

Inc

11,430,806‌

806,237

Texas

Instruments,

Inc

114,493,716‌

31,853

(a)

Ultra

Clean

Holdings

760,013‌

41,731

Universal

Display

Corp

5,808,121‌

37,057

(a)

Veeco

Instruments,

Inc

887,145‌

104,946

(a)

Wolfspeed,

Inc

3,551,373‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

2,275,734,366‌

SOFTWARE

&

SERVICES

-

12

.2

%

78,314

(a)

8x8,

Inc

186,387‌

60,250

A10

Networks,

Inc

654,917‌

558,889

Accenture

plc

166,040,333‌

97,431

(a)

ACI

Worldwide,

Inc

1,984,669‌

76,196

Adeia,

Inc

642,332‌

405,874

(a)

Adobe,

Inc

215,949,320‌

16,094

(a)

Agilysys,

Inc

1,380,704‌

141,710

(a)

Akamai

Technologies,

Inc

14,642,894‌

39,936

(a)

Alarm.com

Holdings,

Inc

2,041,928‌

20,413

(a)

Alkami

Technology,

Inc

366,413‌

41,477

(a)

Altair

Engineering,

Inc

2,576,551‌

48,158

(a)

Alteryx,

Inc

1,541,538‌

111,518

Amdocs

Ltd

8,939,283‌

26,922

American

Software,

Inc

(Class

A)

295,334‌

43,168

(a)

Amplitude,

Inc

429,953‌

77,604

(a)

Ansys,

Inc

21,594,089‌

18,081

(a)

Appfolio,

Inc

3,391,453‌

29,215

(a)

Appian

Corp

1,152,824‌

59,350

(a),(b)

Applied

Digital

Corp

289,628‌

205,343

(a)

AppLovin

Corp

7,482,699‌

67,566

(a)

Asana,

Inc

1,247,944‌

24,132

(a)

Aspentech

Corp

4,289,463‌

33,223

(a)

Asure

Software,

Inc

281,067‌

131,514

(a)

Atlassian

Corp

Ltd

23,756,689‌

191,651

(a)

Autodesk,

Inc

37,875,987‌

99,574

(a)

AvePoint,

Inc

745,809‌

168,175

Bentley

Systems,

Inc

8,180,032‌

154,441

(a),(b)

BigBear.ai

Holdings,

Inc

196,140‌

34,963

(a)

BigCommerce

Holdings,

Inc

310,821‌

88,953

(a)

BILL

Holdings,

Inc

8,120,519‌

103,897

(a),(b)

Bit

Digital,

Inc

218,184‌

41,875

(a)

Blackbaud,

Inc

2,738,625‌

44,539

(a)

BlackLine,

Inc

2,186,865‌

143,236

(a)

Box,

Inc

3,560,847‌

51,645

(a)

Braze,

Inc

2,199,044‌

26,305

(a)

Brightcove,

Inc

81,019‌

51,516

(a),(b)

C3.ai,

Inc

1,256,990‌

238,523

(a)

Cadence

Design

Systems,

Inc

57,209,742‌

189,951

(a)

CCC

Intelligent

Solutions

Holdings,

Inc

2,045,772‌

27,699

(a)

Cerence,

Inc

424,072‌

122,132

(a)

Ceridian

HCM

Holding,

Inc

7,817,669‌

134,681

(a),(b)

Cipher

Mining,

Inc

448,488‌

85,270

(a)

Cleanspark,

Inc

349,607‌

70,549

Clear

Secure,

Inc

1,186,634‌

257,398

(a)

Cloudflare,

Inc

14,591,893‌

450,663

Cognizant

Technology

Solutions

Corp

(Class

A)

29,054,244‌

37,055

(a)

Commvault

Systems,

Inc

2,421,544‌

71

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

160,229

(a)

Confluent,

Inc

$

4,632,220‌

10,805

(a)

Consensus

Cloud

Solutions,

Inc

233,280‌

15,361

(a),(b)

CoreCard

Corp

328,265‌

23,147

(a)

Couchbase,

Inc

360,167‌

186,095

(a)

Crowdstrike

Holdings,

Inc

32,896,013‌

9,431

(a)

CS

Disco,

Inc

52,908‌

237,006

(a)

Datadog,

Inc

19,308,879‌

9,840

(a),(b)

Digimarc

Corp

255,250‌

86,742

(a)

Digital

Turbine,

Inc

411,157‌

58,947

(a),(b)

DigitalOcean

Holdings,

Inc

1,206,056‌

170,997

(a)

DocuSign,

Inc

6,648,363‌

50,425

Dolby

Laboratories,

Inc

(Class

A)

4,081,400‌

20,233

(a)

Domo,

Inc

165,101‌

94,978

(a)

DoubleVerify

Holdings,

Inc

2,643,238‌

231,906

(a)

Dropbox,

Inc

6,099,128‌

198,360

(a)

DXC

Technology

Co

4,000,921‌

208,849

(a)

Dynatrace,

Inc

9,337,639‌

147,811

(a)

E2open

Parent

Holdings,

Inc

427,174‌

19,830

(b)

Ebix,

Inc

120,765‌

16,495

(a)

eGain

Corp

99,300‌

66,063

(a)

Elastic

NV

4,957,368‌

15,834

(a),(b)

Enfusion,

Inc

131,422‌

28,742

(a)

EngageSmart,

Inc

651,006‌

42,067

(a)

Envestnet,

Inc

1,556,479‌

48,388

(a)

EPAM

Systems,

Inc

10,527,777‌

27,606

(a)

Everbridge,

Inc

568,960‌

11,244

(a)

EverCommerce,

Inc

107,718‌

52,220

(a)

Expensify,

Inc

139,427‌

21,576

(a)

Fair

Isaac

Corp

18,250,491‌

136,530

(a)

Fastly,

Inc

2,002,895‌

57,264

(a)

Five9,

Inc

3,313,868‌

589,467

(a)

Fortinet,

Inc

33,699,828‌

135,508

(a)

Freshworks,

Inc

2,431,014‌

68,808

(a)

Gartner,

Inc

22,847,008‌

505,961

Gen

Digital,

Inc

8,429,310‌

76,243

(a)

Gitlab,

Inc

3,299,797‌

35,199

(a)

Globant

S.A.

5,994,038‌

138,411

(a)

GoDaddy,

Inc

10,135,838‌

32,650

(a)

Grid

Dynamics

Holdings,

Inc

331,071‌

65,057

(a)

Guidewire

Software,

Inc

5,863,587‌

37,219

Hackett

Group,

Inc

829,612‌

79,654

(a)

HashiCorp,

Inc

1,568,387‌

40,628

(a)

HubSpot,

Inc

17,216,928‌

23,979

(a)

Informatica,

Inc

459,917‌

24,400

(a)

Instructure

Holdings,

Inc

600,972‌

39,847

(a)

Intapp,

Inc

1,362,767‌

24,224

InterDigital,

Inc

1,822,856‌

805,665

International

Business

Machines

Corp

116,531,386‌

241,899

Intuit,

Inc

119,727,910‌

51,838

(a)

Jamf

Holding

Corp

832,518‌

240,090

(a)

Kyndryl

Holdings,

Inc

3,512,517‌

253,579

(a)

Liveperson,

Inc

669,449‌

48,520

(a)

LiveRamp

Holdings,

Inc

1,342,063‌

56,829

(a)

Manhattan

Associates,

Inc

11,080,518‌

146,080

(a),(b)

Marathon

Digital

Holdings,

Inc

1,286,965‌

273,528

(a),(b)

Matterport,

Inc

557,997‌

28,276

(a)

MeridianLink,

Inc

464,292‌

6,591,614

Microsoft

Corp

2,228,690,610‌

10,246

(a),(b)

MicroStrategy,

Inc

(Class

A)

4,338,054‌

31,026

(a)

Mitek

Systems,

Inc

331,358‌

25,985

(a)

Model

N,

Inc

626,239‌

59,634

(a)

MongoDB,

Inc

20,549,280‌

52,627

(a)

N-able,

Inc

682,046‌

Equity

Index

Fund

October

31,

2023

72

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

58,836

(a)

nCino

OpCo,

Inc

$

1,653,292‌

111,377

(a)

NCR

Corp

1,702,954‌

55,688

(a)

NCR

Corp

ATM

1,228,477‌

52,325

(a)

New

Relic,

Inc

4,535,008‌

221,030

(a)

Nutanix,

Inc

7,999,076‌

133,403

(a)

Okta,

Inc

8,992,696‌

69,602

(a)

Olo,

Inc

355,666‌

19,455

(b)

ON24,

Inc

119,648‌

25,278

(a)

OneSpan,

Inc

199,696‌

1,353,793

Oracle

Corp

139,982,196‌

65,121

(a),(b)

PagerDuty,

Inc

1,313,491‌

1,631,846

(a)

Palantir

Technologies,

Inc

24,151,321‌

267,349

(a)

Palo

Alto

Networks,

Inc

64,971,154‌

44,093

Paycom

Software,

Inc

10,801,462‌

60,529

(a),(b)

Paycor

HCM,

Inc

1,306,216‌

37,253

(a)

Paylocity

Holding

Corp

6,683,188‌

30,445

Pegasystems,

Inc

1,301,219‌

26,540

(a)

Perficient,

Inc

1,544,363‌

39,914

(a)

PowerSchool

Holdings,

Inc

795,087‌

65,773

(a)

Procore

Technologies,

Inc

4,018,073‌

35,100

Progress

Software

Corp

1,803,438‌

29,988

(a)

PROS

Holdings,

Inc

934,126‌

100,282

(a)

PTC,

Inc

14,081,598‌

40,058

(a)

Q2

Holdings,

Inc

1,202,942‌

33,850

(a)

Qualys,

Inc

5,177,358‌

67,840

(a)

Rapid7,

Inc

3,153,882‌

38,512

(a)

Rimini

Street,

Inc

83,571‌

61,567

(a)

RingCentral,

Inc

1,636,451‌

143,278

(a),(b)

Riot

Platforms,

Inc

1,401,259‌

94,306

Roper

Industries,

Inc

46,075,082‌

840,401

(a)

Salesforce,

Inc

168,777,733‌

37,443

Sapiens

International

Corp

NV

954,796‌

234,223

(a)

SentinelOne,

Inc

3,660,905‌

180,357

(a)

ServiceNow,

Inc

104,940,720‌

114,903

(a)

Smartsheet,

Inc

4,543,265‌

275,384

(a)

Snowflake,

Inc

39,966,480‌

26,865

(a)

SolarWinds

Corp

247,427‌

122,690

(a),(b)

SoundHound

AI,

Inc

195,077‌

6,623

(a)

SoundThinking,

Inc

99,941‌

139,381

(a)

Splunk,

Inc

20,511,308‌

69,477

(a)

Sprinklr,

Inc

944,192‌

56,116

(a)

Sprout

Social,

Inc

2,428,700‌

35,737

(a)

SPS

Commerce,

Inc

5,730,071‌

38,742

(a)

Squarespace,

Inc

1,100,660‌

134,780

(a)

Synopsys,

Inc

63,271,123‌

110,077

(a)

Tenable

Holdings,

Inc

4,635,342‌

85,041

(a)

Teradata

Corp

3,632,952‌

675,462

(a),(b)

Terawulf,

Inc

749,763‌

66,554

(a)

Thoughtworks

Holding,

Inc

225,618‌

399,469

(a)

Trade

Desk,

Inc

28,346,320‌

7,399

(a),(b)

Tucows,

Inc

124,969‌

152,065

(a)

Twilio,

Inc

7,794,852‌

37,702

(a)

Tyler

Technologies,

Inc

14,059,076‌

350,023

(a)

UiPath,

Inc

5,435,857‌

46,333

(a)

Unisys

Corp

128,806‌

249,899

(a)

Unity

Software,

Inc

6,339,938‌

112,868

(a)

Varonis

Systems,

Inc

3,796,880‌

55,349

(a)

Verint

Systems,

Inc

1,041,115‌

82,411

(a)

VeriSign,

Inc

16,454,180‌

8,056

(a)

Viant

Technology,

Inc

43,422‌

190,456

(a)

VMware,

Inc

(Class

A)

27,739,916‌

47,115

(a)

Weave

Communications,

Inc

337,343‌

175,163

(a)

Workday,

Inc

37,083,759‌

73

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

36,779

(a)

Workiva,

Inc

$

3,203,083‌

30,478

(a)

Xperi,

Inc

258,758‌

82,017

(a)

Yext,

Inc

494,563‌

86,829

(a)

Zeta

Global

Holdings

Corp

677,266‌

224,197

(a)

Zoom

Video

Communications,

Inc

13,447,336‌

75,557

(a)

Zscaler,

Inc

11,990,140‌

82,293

(a)

Zuora,

Inc

609,791‌

TOTAL

SOFTWARE

&

SERVICES

4,393,237,159‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

8

.0

%

63,108

(a),(b)

908

Devices,

Inc

374,230‌

83,498

ADTRAN

Holdings,

Inc

548,582‌

28,385

Advanced

Energy

Industries,

Inc

2,476,875‌

78,929

(a),(b)

Aeva

Technologies,

Inc

39,307‌

31,826

(a),(b)

Akoustis

Technologies,

Inc

16,136‌

516,388

Amphenol

Corp

(Class

A)

41,595,053‌

13,217,891

Apple,

Inc

2,257,219,246‌

221,617

(a)

Arista

Networks,

Inc

44,405,398‌

59,735

(a)

Arlo

Technologies,

Inc

507,150‌

53,673

(a)

Arrow

Electronics,

Inc

6,087,055‌

7,088

(a)

Aviat

Networks,

Inc

189,250‌

26,535

(a)

Avid

Technology,

Inc

716,976‌

95,338

Avnet,

Inc

4,417,010‌

29,448

Badger

Meter,

Inc

4,080,020‌

8,535

Bel

Fuse,

Inc

(Class

B)

462,426‌

32,324

Belden

CDT,

Inc

2,291,772‌

27,743

Benchmark

Electronics,

Inc

671,658‌

57,397

(a)

Calix,

Inc

1,900,989‌

7,291

(a)

Cambium

Networks

Corp

36,309‌

117,018

CDW

Corp

23,450,407‌

138,095

(a)

Ciena

Corp

5,827,609‌

3,635,902

Cisco

Systems,

Inc

189,539,571‌

7,427

(a),(b)

Clearfield,

Inc

178,397‌

151,819

Cognex

Corp

5,463,966‌

98,251

(a)

Coherent

Corp

2,908,230‌

18,341

Comtech

Telecommunications

Corp

223,760‌

670,495

Corning,

Inc

17,942,446‌

19,293

(a)

Corsair

Gaming,

Inc

246,757‌

15,693

(a),(b)

CPI

Card

Group,

Inc

259,719‌

23,784

CTS

Corp

889,759‌

60,151

(a)

Daktronics,

Inc

578,653‌

23,627

(a)

Digi

International,

Inc

594,928‌

12,279

(a),(b)

DZS,

Inc

15,594‌

41,555

(a)

Eastman

Kodak

Co

154,585‌

19,554

(a)

ePlus,

Inc

1,222,125‌

85,848

(a),(b)

Evolv

Technologies

Holdings,

Inc

364,854‌

109,491

(a)

Extreme

Networks,

Inc

2,257,704‌

57,147

(a)

F5

Networks,

Inc

8,662,914‌

35,610

(a)

Fabrinet

5,519,550‌

14,036

(a)

FARO

Technologies,

Inc

180,643‌

89,756

(a),(b)

Harmonic,

Inc

968,467‌

1,132,379

Hewlett

Packard

Enterprise

Co

17,415,989‌

766,057

HP,

Inc

20,170,281‌

130,507

(a),(b)

Infinera

Corp

382,386‌

29,268

(a)

Insight

Enterprises,

Inc

4,194,104‌

138,657

(a),(b)

IonQ,

Inc

1,336,654‌

27,126

(a)

IPG

Photonics

Corp

2,330,123‌

32,976

(a)

Itron,

Inc

1,888,865‌

109,954

Jabil

Inc

13,502,351‌

278,626

Juniper

Networks,

Inc

7,500,612‌

161,119

(a)

Keysight

Technologies,

Inc

19,664,574‌

14,309

(a)

Kimball

Electronics,

Inc

374,896‌

61,140

(a)

Knowles

Corp

794,209‌

Equity

Index

Fund

October

31,

2023

74

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

86,567

(a),(b)

Lightwave

Logic,

Inc

$

392,149‌

22,984

Littelfuse,

Inc

4,979,943‌

55,921

(a)

Lumentum

Holdings,

Inc

2,192,662‌

37,879

(a),(b)

Luna

Innovations,

Inc

215,153‌

28,648

Methode

Electronics,

Inc

655,180‌

128,338

(a),(b)

MicroVision,

Inc

242,559‌

165,626

(a)

Mirion

Technologies,

Inc

1,147,788‌

145,653

Motorola

Solutions,

Inc

40,558,534‌

18,242

Napco

Security

Technologies,

Inc

335,106‌

189,063

NetApp,

Inc

13,760,005‌

23,717

(a)

Netgear,

Inc

299,783‌

52,942

(a)

Netscout

Systems,

Inc

1,155,724‌

31,027

(a)

nLight,

Inc

258,455‌

28,759

(a)

Novanta,

Inc

3,797,914‌

12,545

(a)

OSI

Systems,

Inc

1,308,067‌

17,347

(a),(b)

PAR

Technology

Corp

506,359‌

8,785

PC

Connection,

Inc

470,700‌

21,803

(a)

Plexus

Corp

2,143,671‌

252,114

(a)

Pure

Storage,

Inc

8,523,974‌

56,145

(a)

Ribbon

Communications,

Inc

105,553‌

15,589

(a)

Rogers

Corp

1,915,732‌

46,609

(a)

Sanmina

Corp

2,371,000‌

19,158

(a)

Scansource,

Inc

582,403‌

92,045

(a),(b)

SmartRent,

Inc

221,828‌

40,852

(a)

Super

Micro

Computer,

Inc

9,782,828‌

43,562

SYNNEX

Corp

3,993,764‌

40,888

(a)

Teledyne

Technologies,

Inc

15,316,236‌

294,118

(a),(b)

Tingo

Group,

Inc

229,824‌

231,874

(a)

Trimble

Inc

10,928,222‌

74,357

(a)

TTM

Technologies,

Inc

854,362‌

10,648

(a)

Turtle

Beach

Corp

87,846‌

5,384

Ubiquiti,

Inc

653,887‌

114,475

(a),(b)

Viasat,

Inc

2,110,919‌

187,869

(a)

Viavi

Solutions,

Inc

1,461,621‌

109,481

Vishay

Intertechnology,

Inc

2,434,857‌

9,120

(a)

Vishay

Precision

Group,

Inc

272,870‌

125,877

Vontier

Corp

3,720,924‌

269,993

(a)

Western

Digital

Corp

10,840,219‌

99,358

Xerox

Holdings

Corp

1,275,757‌

44,239

(a)

Zebra

Technologies

Corp

(Class

A)

9,264,974‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

2,886,410,476‌

TELECOMMUNICATION

SERVICES

-

0

.9

%

8,133

(a)

Anterix,

Inc

247,975‌

65,360

(a),(b)

AST

SpaceMobile,

Inc

216,342‌

6,277,280

AT&T,

Inc

96,670,112‌

5,649

ATN

International,

Inc

174,837‌

32,094

(a)

Bandwidth,

Inc

340,517‌

82,970

(a),(b)

Charge

Enterprises,

Inc

23,663‌

49,425

Cogent

Communications

Group,

Inc

3,211,636‌

68,536

(a)

Consolidated

Communications

Holdings,

Inc

285,795‌

35,853

(a)

EchoStar

Corp

(Class

A)

496,923‌

226,561

(a)

Frontier

Communications

Parent,

Inc

4,059,973‌

79,189

(a),(d)

GCI

Liberty,

Inc

792‌

522,135

(a),(b)

Globalstar,

Inc

736,210‌

43,200

(a)

Gogo,

Inc

453,600‌

14,644

(a)

IDT

Corp

410,764‌

117,764

Iridium

Communications,

Inc

4,363,156‌

26,275

(a)

Liberty

Latin

America

Ltd

(Class

A)

179,458‌

114,989

(a)

Liberty

Latin

America

Ltd

(Class

C)

787,675‌

862,019

(b)

Lumen

Technologies,

Inc

1,258,548‌

22,121

(a)

Ooma,

Inc

241,340‌

37,330

Shenandoah

Telecom

Co

883,228‌

75

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TELECOMMUNICATION

SERVICES—continued

30,098

Spok

Holdings,

Inc

$

448,761‌

88,529

Telephone

and

Data

Systems,

Inc

1,610,343‌

470,428

(a)

T-Mobile

US,

Inc

67,675,772‌

3,718,087

Verizon

Communications,

Inc

130,616,396‌

TOTAL

TELECOMMUNICATION

SERVICES

315,393,816‌

TRANSPORTATION

-

1

.7

%

43,466

(a)

Air

Transport

Services

Group,

Inc

850,630‌

114,348

(a)

Alaska

Air

Group,

Inc

3,616,827‌

17,676

Allegiant

Travel

Co

1,177,575‌

7,165

(a),(b)

Amerco,

Inc

351,945‌

554,601

(a),(b)

American

Airlines

Group,

Inc

6,183,801‌

19,290

ArcBest

Corp

2,100,295‌

18,356

(a)

Avis

Budget

Group,

Inc

2,988,357‌

55,909

(a),(b)

Blade

Air

Mobility,

Inc

119,086‌

97,913

CH

Robinson

Worldwide,

Inc

8,012,221‌

46,970

Costamare,

Inc

424,139‌

14,890

Covenant

Logistics

Group,

Inc

587,932‌

1,794,134

CSX

Corp

53,554,900‌

34,199

(a)

Daseke,

Inc

151,844‌

561,695

Delta

Air

Lines,

Inc

17,552,969‌

15,214

(b)

Eagle

Bulk

Shipping,

Inc

620,731‌

133,993

Expeditors

International

Washington,

Inc

14,638,735‌

203,570

FedEx

Corp

48,877,157‌

23,219

Forward

Air

Corp

1,495,536‌

26,026

(a),(b)

Frontier

Group

Holdings,

Inc

88,228‌

119,048

FTAI

Infrastructure,

Inc

364,287‌

22,919

Genco

Shipping

&

Trading

Ltd

301,843‌

94,540

Golden

Ocean

Group

Ltd

685,415‌

109,335

(a)

GXO

Logistics,

Inc

5,522,511‌

43,574

(a)

Hawaiian

Holdings,

Inc

183,447‌

62,367

Heartland

Express,

Inc

727,199‌

123,606

(a)

Hertz

Global

Holdings,

Inc

1,041,999‌

37,107

(a)

Hub

Group,

Inc

(Class

A)

2,551,106‌

70,991

JB

Hunt

Transport

Services,

Inc

12,201,223‌

547,182

(a)

JetBlue

Airways

Corp

2,057,404‌

372,230

(a),(b)

Joby

Aviation,

Inc

1,961,652‌

43,977

(a)

Kirby

Corp

3,285,082‌

139,041

Knight-Swift

Transportation

Holdings,

Inc

6,797,714‌

29,754

Landstar

System,

Inc

4,902,864‌

278,864

(a)

Lyft,

Inc

(Class

A)

2,557,183‌

46,584

Marten

Transport

Ltd

818,947‌

32,216

Matson,

Inc

2,804,403‌

200,460

Norfolk

Southern

Corp

38,245,763‌

87,026

Old

Dominion

Freight

Line

32,779,213‌

5,088

(a)

PAM

Transportation

Services,

Inc

87,870‌

57,721

(b)

Pangaea

Logistics

Solutions

Ltd

334,205‌

25,749

(a)

Radiant

Logistics,

Inc

150,889‌

79,951

(a)

RXO,

Inc

1,399,942‌

43,297

Ryder

System,

Inc

4,223,189‌

34,465

(b)

Safe

Bulkers,

Inc

108,220‌

22,323

(a)

Saia,

Inc

8,002,572‌

55,591

Schneider

National,

Inc

1,408,120‌

39,428

(a)

Skywest,

Inc

1,662,679‌

499,086

Southwest

Airlines

Co

11,094,682‌

132,576

Spirit

Airlines,

Inc

1,521,972‌

23,522

(a)

Sun

Country

Airlines

Holdings,

Inc

306,256‌

197,676

(a),(b)

TuSimple

Holdings,

Inc

211,513‌

1,715,340

(a)

Uber

Technologies,

Inc

74,239,915‌

90,651

U-Haul

Holding

Co

4,279,634‌

540,547

Union

Pacific

Corp

112,222,963‌

279,728

(a)

United

Airlines

Holdings,

Inc

9,793,277‌

642,880

United

Parcel

Service,

Inc

(Class

B)

90,806,800‌

Equity

Index

Fund

October

31,

2023

76

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TRANSPORTATION—continued

7,105

Universal

Truckload

Services,

Inc

$

159,010‌

46,797

Werner

Enterprises,

Inc

1,699,667‌

95,602

(a)

XPO,

Inc

7,247,588‌

TOTAL

TRANSPORTATION

614,143,126‌

UTILITIES

-

2

.4

%

574,379

AES

Corp

8,558,247‌

70,270

Allete,

Inc

3,762,256‌

210,876

Alliant

Energy

Corp

10,288,640‌

94,553

(a),(b)

Altus

Power,

Inc

502,076‌

216,553

Ameren

Corp

16,395,228‌

453,106

American

Electric

Power

Co,

Inc

34,227,627‌

38,997

American

States

Water

Co

3,043,716‌

168,424

American

Water

Works

Co,

Inc

19,815,084‌

4,173

Artesian

Resources

Corp

163,999‌

125,970

Atmos

Energy

Corp

13,561,930‌

73,904

Avangrid,

Inc

2,207,513‌

75,721

Avista

Corp

2,399,599‌

63,248

Black

Hills

Corp

3,058,041‌

136,091

Brookfield

Infrastructure

Corp

3,505,704‌

143,669

(b)

Brookfield

Renewable

Corp

3,269,906‌

97,088

(a),(b)

Cadiz,

Inc

294,177‌

56,549

California

Water

Service

Group

2,752,805‌

521,719

Centerpoint

Energy,

Inc

14,023,807‌

22,717

Chesapeake

Utilities

Corp

2,012,953‌

25,714

Clearway

Energy,

Inc

(Class

A)

523,794‌

85,770

Clearway

Energy,

Inc

(Class

C)

1,862,067‌

241,570

CMS

Energy

Corp

13,126,914‌

301,833

Consolidated

Edison,

Inc

26,497,919‌

17,051

(b)

Consolidated

Water

Co,

Inc

503,346‌

296,168

Constellation

Energy

Corp

33,443,291‌

726,927

Dominion

Energy,

Inc

29,309,697‌

180,750

DTE

Energy

Co

17,420,685‌

680,855

Duke

Energy

Corp

60,521,201‌

326,308

Edison

International

20,576,982‌

179,416

Entergy

Corp

17,150,375‌

196,369

Essential

Utilities,

Inc

6,570,507‌

187,796

Evergy,

Inc

9,228,295‌

294,143

Eversource

Energy

15,821,952‌

882,727

Exelon

Corp

34,373,389‌

469,514

FirstEnergy

Corp

16,714,698‌

28,389

(b)

Genie

Energy

Ltd

563,238‌

5,833

Global

Water

Resources,

Inc

61,422‌

52,830

Idacorp,

Inc

5,003,529‌

43,887

MGE

Energy,

Inc

3,143,626‌

13,108

Middlesex

Water

Co

832,751‌

49,852

(a)

Montauk

Renewables,

Inc

501,511‌

94,260

National

Fuel

Gas

Co

4,802,547‌

105,505

New

Jersey

Resources

Corp

4,281,393‌

1,785,253

NextEra

Energy,

Inc

104,080,250‌

359,796

NiSource,

Inc

9,052,467‌

43,547

Northwest

Natural

Holding

Co

1,598,610‌

58,124

NorthWestern

Corp

2,790,533‌

207,642

NRG

Energy,

Inc

8,799,868‌

193,006

OGE

Energy

Corp

6,600,805‌

41,420

ONE

Gas,

Inc

2,501,768‌

43,542

Ormat

Technologies,

Inc

2,679,575‌

34,114

Otter

Tail

Corp

2,624,731‌

1,803,833

(a)

PG&E

Corp

29,402,478‌

99,417

Pinnacle

West

Capital

Corp

7,374,753‌

81,055

PNM

Resources,

Inc

3,425,384‌

86,822

Portland

General

Electric

Co

3,474,616‌

645,366

PPL

Corp

15,856,643‌

77

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

444,021

Public

Service

Enterprise

Group,

Inc

$

27,373,895‌

16,040

(a)

Pure

Cycle

Corp

153,342‌

559,560

Sempra

Energy

39,185,987‌

41,504

SJW

Corp

2,593,170‌

975,037

Southern

Co

65,619,990‌

66,919

Southwest

Gas

Holdings

Inc

3,922,123‌

54,030

Spire,

Inc

3,005,689‌

75,509

(a),(b)

Sunnova

Energy

International,

Inc

689,397‌

167,494

UGI

Corp

3,483,875‌

17,356

Unitil

Corp

792,649‌

332,098

Vistra

Corp

10,866,247‌

270,124

WEC

Energy

Group,

Inc

21,985,392‌

468,394

Xcel

Energy,

Inc

27,761,712‌

20,767

York

Water

Co

749,066‌

TOTAL

UTILITIES

875,123,452‌

TOTAL

COMMON

STOCKS

35,957,079,522‌

(Cost

$20,468,969,607)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0

.0

%

27,694

(d)

Chinook

Therapeutics,

Inc

277‌

4,598

(d)

Tobira

Therapeutics,

Inc

276‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

553‌

TOTAL

RIGHTS/WARRANTS

553‌

(Cost

$276)

TOTAL

LONG-TERM

INVESTMENTS

35,957,080,075‌

(Cost

$20,468,969,883)

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

0.4%

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

$

5,000,000

Federal

Farm

Credit

Bank

(FFCB)

0

.000

%

12/18/23

4,966,402‌

20,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

11/02/23

19,997,147‌

8,890,000

FHLB

0

.000

11/03/23

8,887,464‌

5,000,000

FHLB

0

.000

11/08/23

4,995,009‌

10,000,000

FHLB

0

.000

12/12/23

9,941,357‌

15,000,000

FHLB

0

.000

01/05/24

14,860,401‌

TOTAL

GOVERNMENT

AGENCY

DEBT

63,647,780‌

REPURCHASE

AGREEMENT

-

0

.1

%

54,035,000

(e)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

54,035,000‌

TOTAL

REPURCHASE

AGREEMENT

54,035,000‌

TREASURY

DEBT

-

0

.1

%

18,025,000

United

States

Treasury

Bill

0

.000

11/02/23

18,022,370‌

20,000,000

United

States

Treasury

Bill

0

.000

11/07/23

19,982,400‌

5,955,000

United

States

Treasury

Bill

0

.000

01/04/24

5,898,890‌

TOTAL

TREASURY

DEBT

43,903,660‌

TOTAL

SHORT-TERM

INVESTMENTS

161,586,440‌

(Cost

$161,579,095)

Equity

Index

Fund

October

31,

2023

78

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

RATE

EXP

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.3%

116,018,795

(f)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

%

$

116,018,795‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

116,018,795‌

(Cost

$116,018,795)

TOTAL

INVESTMENTS

-

100.3%

36,234,685,310‌

(Cost

$20,746,567,773)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.3)%

(

119,567,528‌

)

NET

ASSETS

-

100.0%

$

36,115,117,782‌

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$175,203,491.

(c)

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

(d)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(e)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$54,035,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$55,115,737.

(f)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

S&P

500

E

Mini

Index

612‌

12/15/23

 $

132,263,286‌

$

128,894,850‌

$

(

3,368,436‌

)

Portfolios

of

Investments

Large-Cap

Growth

Index

Fund

October

31,

2023

79

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

100.0%

COMMON

STOCKS

-

100.0%

AUTOMOBILES

&

COMPONENTS

-

2

.7

%

1,407,213

(a)

Tesla,

Inc

$

282,624,659‌

TOTAL

AUTOMOBILES

&

COMPONENTS

282,624,659‌

BANKS

-

0

.1

%

578

First

Citizens

Bancshares,

Inc

(Class

A)

798,068‌

813,943

(a)

NU

Holdings

Ltd

6,674,332‌

TOTAL

BANKS

7,472,400‌

CAPITAL

GOODS

-

2

.9

%

6,425

A.O.

Smith

Corp

448,208‌

35,569

Advanced

Drainage

Systems,

Inc

3,799,836‌

42,570

Allegion

plc

4,187,185‌

4,021

Allison

Transmission

Holdings,

Inc

202,739‌

8,527

Armstrong

World

Industries,

Inc

647,114‌

35,530

(a)

Axon

Enterprise,

Inc

7,265,530‌

38,767

(a)

Boeing

Co

7,242,451‌

7,654

BWX

Technologies,

Inc

568,539‌

198,005

Caterpillar,

Inc

44,759,030‌

178,220

(a),(b)

ChargePoint

Holdings,

Inc

452,679‌

129,311

Deere

&

Co

47,245,067‌

25,637

Donaldson

Co,

Inc

1,478,229‌

7,894

EMCOR

Group,

Inc

1,631,295‌

218,494

Fastenal

Co

12,746,940‌

5,456

Ferguson

plc

819,491‌

33,355

Graco,

Inc

2,479,944‌

20,122

HEICO

Corp

3,187,526‌

36,759

HEICO

Corp

(Class

A)

4,673,172‌

43,898

Honeywell

International,

Inc

8,044,747‌

11,915

Hubbell,

Inc

3,218,242‌

2,989

IDEX

Corp

572,125‌

126,335

Illinois

Tool

Works,

Inc

28,314,200‌

25,447

Lincoln

Electric

Holdings,

Inc

4,448,136‌

115,599

Lockheed

Martin

Corp

52,555,929‌

3,965

Northrop

Grumman

Corp

1,869,220‌

11,917

Otis

Worldwide

Corp

920,112‌

18,434

Quanta

Services,

Inc

3,080,690‌

58,708

Rockwell

Automation,

Inc

15,429,049‌

7,006

(a)

SiteOne

Landscape

Supply,

Inc

965,217‌

3,495

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

78,987‌

53,151

Toro

Co

4,296,727‌

34,319

Trane

Technologies

plc

6,531,249‌

4,716

(a)

TransDigm

Group,

Inc

3,905,272‌

54,254

(a)

Trex

Co,

Inc

3,049,617‌

6,841

United

Rentals,

Inc

2,779,293‌

1,625

Valmont

Industries,

Inc

319,979‌

8,994

Vertiv

Holdings

Co

353,194‌

22,806

W.W.

Grainger,

Inc

16,644,503‌

4,035

Watsco,

Inc

1,407,771‌

24,117

(a)

WillScot

Mobile

Mini

Holdings

Corp

950,451‌

13,777

Xylem,

Inc

1,288,701‌

TOTAL

CAPITAL

GOODS

304,858,386‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1

.8

%

181,289

Automatic

Data

Processing,

Inc

39,560,886‌

67,028

Booz

Allen

Hamilton

Holding

Corp

8,038,668‌

Large-Cap

Growth

Index

Fund

October

31,

2023

80

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

50,050

Broadridge

Financial

Solutions,

Inc

$

8,540,532‌

39,399

Cintas

Corp

19,980,021‌

438,379

(a)

Copart,

Inc

19,078,254‌

88,810

(a)

CoStar

Group,

Inc

6,519,542‌

43,079

Equifax,

Inc

7,304,906‌

2,997

(a)

FTI

Consulting,

Inc

636,143‌

21,794

Genpact

Ltd

730,971‌

23,987

KBR,

Inc

1,394,844‌

3,051

MSA

Safety,

Inc

481,692‌

164,642

Paychex,

Inc

18,283,494‌

72,623

RB

Global,

Inc

4,749,544‌

127,655

Rollins,

Inc

4,801,104‌

4,688

Tetra

Tech,

Inc

707,466‌

72,902

Verisk

Analytics,

Inc

16,574,999‌

186,873

Waste

Management,

Inc

30,708,840‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

188,091,906‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

1

.6

%

7,704

(a)

Autozone,

Inc

19,083,810‌

12,962

Best

Buy

Co,

Inc

866,121‌

32,998

(a)

Burlington

Stores,

Inc

3,993,748‌

4,268

(a)

Carmax,

Inc

260,732‌

559,724

(a)

Coupang,

Inc

9,515,308‌

2,165

Dick's

Sporting

Goods,

Inc

231,547‌

16,145

eBay,

Inc

633,368‌

33,571

(a)

Etsy,

Inc

2,091,473‌

28,264

(a)

Five

Below,

Inc

4,917,371‌

50,937

(a),(b)

Floor

&

Decor

Holdings,

Inc

4,197,209‌

9,226

Murphy

USA,

Inc

3,346,178‌

9,610

(a)

Ollie's

Bargain

Outlet

Holdings,

Inc

742,276‌

26,058

(a)

O'Reilly

Automotive,

Inc

24,245,406‌

19,404

Pool

Corp

6,127,201‌

1,297

(a)

RH

282,694‌

160,094

Ross

Stores,

Inc

18,566,101‌

588,760

TJX

Cos,

Inc

51,852,093‌

55,948

Tractor

Supply

Co

10,773,347‌

25,553

(a)

Ulta

Beauty,

Inc

9,743,614‌

12,138

(a)

Victoria's

Secret

&

Co

217,027‌

14,046

(a)

Wayfair,

Inc

598,500‌

4,098

Williams-Sonoma,

Inc

615,684‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

172,900,808‌

CONSUMER

DURABLES

&

APPAREL

-

0

.7

%

2,387

Brunswick

Corp

165,825‌

29,657

(a)

Crocs,

Inc

2,648,963‌

13,385

(a)

Deckers

Outdoor

Corp

7,991,648‌

56,857

(a)

Lululemon

Athletica,

Inc

22,372,092‌

324,007

Nike,

Inc

(Class

B)

33,298,199‌

129

(a)

NVR,

Inc

698,228‌

137,508

(a),(b)

Peloton

Interactive,

Inc

654,538‌

2,321

Polaris

Industries,

Inc

200,581‌

4,710

(a)

Skechers

U.S.A.,

Inc

(Class

A)

227,116‌

6,024

Tapestry,

Inc

166,022‌

16,558

Tempur

Sealy

International,

Inc

661,161‌

1,003

(a)

TopBuild

Corp

229,446‌

41,824

(a)

YETI

Holdings,

Inc

1,778,357‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

71,092,176‌

CONSUMER

SERVICES

-

2

.9

%

207,177

(a)

Airbnb,

Inc

24,506,967‌

18,967

(a)

Booking

Holdings,

Inc

52,909,585‌

3,484

(a)

Bright

Horizons

Family

Solutions,

Inc

258,025‌

40,939

(a)

Caesars

Entertainment,

Inc

1,633,057‌

81

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

9,443

(a),(b)

Cava

Group,

Inc

$

298,304‌

14,040

(a)

Chipotle

Mexican

Grill,

Inc

(Class

A)

27,268,488‌

16,348

(b)

Choice

Hotels

International,

Inc

1,806,454‌

36,757

Churchill

Downs,

Inc

4,037,389‌

27,488

Darden

Restaurants,

Inc

4,000,329‌

18,084

Domino's

Pizza,

Inc

6,130,295‌

120,685

(a)

DoorDash,

Inc

9,045,341‌

214,030

(a)

DraftKings,

Inc

5,911,509‌

54,594

(a)

Expedia

Group,

Inc

5,202,262‌

4,091

(a)

Grand

Canyon

Education,

Inc

484,088‌

48,397

H&R

Block,

Inc

1,986,697‌

60,155

Hilton

Worldwide

Holdings,

Inc

9,115,287‌

157,562

Las

Vegas

Sands

Corp

7,477,893‌

126,914

Marriott

International,

Inc

(Class

A)

23,930,904‌

153,644

McDonald's

Corp

40,280,847‌

49,648

(a),(b)

Norwegian

Cruise

Line

Holdings

Ltd

675,213‌

19,862

(a)

Planet

Fitness,

Inc

1,097,773‌

34,368

(a)

Royal

Caribbean

Cruises

Ltd

2,912,001‌

27,653

Service

Corp

International

1,504,876‌

576,751

Starbucks

Corp

53,199,512‌

32,591

Texas

Roadhouse,

Inc

(Class

A)

3,309,290‌

21,441

Travel

&

Leisure

Co

729,637‌

1,940

Vail

Resorts,

Inc

411,765‌

80,273

Wendy's

Co

1,526,792‌

14,605

Wingstop,

Inc

2,669,356‌

2,821

Wyndham

Hotels

&

Resorts,

Inc

204,240‌

3,081

Wynn

Resorts

Ltd

270,450‌

125,773

Yum!

Brands,

Inc

15,200,925‌

TOTAL

CONSUMER

SERVICES

309,995,551‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.8

%

3,723

Albertsons

Cos,

Inc

80,789‌

22,462

(a)

BJ's

Wholesale

Club

Holdings,

Inc

1,530,111‌

2,627

Casey's

General

Stores,

Inc

714,308‌

226,116

Costco

Wholesale

Corp

124,915,523‌

111,942

Dollar

General

Corp

13,325,576‌

35,103

(a)

Performance

Food

Group

Co

2,027,549‌

259,314

Sysco

Corp

17,241,788‌

235,113

Target

Corp

26,048,169‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

185,883,813‌

ENERGY

-

0

.6

%

55,323

Antero

Midstream

Corp

682,686‌

141,836

APA

Corp

5,633,726‌

123,899

Cheniere

Energy,

Inc

20,619,272‌

88,065

Halliburton

Co

3,464,477‌

79,233

Hess

Corp

11,441,245‌

37,266

(b)

New

Fortress

Energy,

Inc

1,129,160‌

12,019

ONEOK,

Inc

783,639‌

59,059

Ovintiv,

Inc

2,834,832‌

114,205

Targa

Resources

Corp

9,548,680‌

2,951

Texas

Pacific

Land

Corp

5,447,398‌

TOTAL

ENERGY

61,585,115‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

0

.8

%

237,980

American

Tower

Corp

42,405,656‌

23,430

Crown

Castle,

Inc

2,178,522‌

23,953

Equinix,

Inc

17,477,067‌

28,442

Equity

Lifestyle

Properties,

Inc

1,871,484‌

75,045

Iron

Mountain,

Inc

4,432,908‌

37,512

Lamar

Advertising

Co

3,086,112‌

46,516

Public

Storage,

Inc

11,103,834‌

5,308

SBA

Communications

Corp

1,107,408‌

Large-Cap

Growth

Index

Fund

October

31,

2023

82

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)—continued

34,533

Simon

Property

Group,

Inc

$

3,794,831‌

12,977

Sun

Communities,

Inc

1,443,562‌

8,678

UDR,

Inc

276,047‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

89,177,431‌

FINANCIAL

SERVICES

-

5

.7

%

99,199

American

Express

Co

14,486,030‌

53,715

Ameriprise

Financial,

Inc

16,897,128‌

262,693

Apollo

Global

Management,

Inc

20,342,946‌

81,856

Ares

Management

Corp

8,070,183‌

363,758

Blackstone,

Inc

33,593,051‌

104,175

(a)

Block,

Inc

4,193,044‌

32,374

(b)

Blue

Owl

Capital,

Inc

399,171‌

174,371

Equitable

Holdings,

Inc

4,633,038‌

11,528

(a)

Euronet

Worldwide,

Inc

885,812‌

19,602

Factset

Research

Systems,

Inc

8,465,908‌

86,083

(a)

Fiserv,

Inc

9,791,941‌

34,144

(a)

FleetCor

Technologies,

Inc

7,688,205‌

1,804

Houlihan

Lokey,

Inc

181,338‌

63,347

iShares

Russell

1000

Growth

Index

Fund

16,603,882‌

11,256

Jack

Henry

&

Associates,

Inc

1,586,983‌

77,561

KKR

&

Co,

Inc

4,296,879‌

39,843

LPL

Financial

Holdings,

Inc

8,945,550‌

18,358

MarketAxess

Holdings,

Inc

3,924,023‌

428,076

Mastercard,

Inc

(Class

A)

161,106,403‌

73,967

Moody's

Corp

22,781,836‌

13,124

Morningstar,

Inc

3,323,522‌

19,859

MSCI,

Inc

(Class

A)

9,364,511‌

519,988

(a)

PayPal

Holdings,

Inc

26,935,378‌

32,716

(a),(b)

Rocket

Cos,

Inc

241,771‌

13,821

S&P

Global,

Inc

4,827,814‌

30,504

(a)

Shift4

Payments,

Inc

1,358,038‌

45,953

SLM

Corp

597,389‌

188,007

(a)

Toast,

Inc

3,006,232‌

9,118

TPG,

Inc

252,022‌

19,436

Tradeweb

Markets,

Inc

1,749,434‌

3,902

(b)

UWM

Holdings

Corp

18,925‌

826,191

Visa,

Inc

(Class

A)

194,237,504‌

39,546

Western

Union

Co

446,474‌

9,559

(a)

WEX,

Inc

1,591,382‌

13,400

XP,

Inc

268,000‌

TOTAL

FINANCIAL

SERVICES

597,091,747‌

FOOD,

BEVERAGE

&

TOBACCO

-

1

.8

%

4,400

(a)

Boston

Beer

Co,

Inc

(Class

A)

1,469,380‌

23,856

Brown-Forman

Corp

(Class

A)

1,369,811‌

76,215

Brown-Forman

Corp

(Class

B)

4,280,234‌

24,645

(a)

Celsius

Holdings,

Inc

3,748,258‌

982,468

Coca-Cola

Co

55,499,617‌

8,697

Constellation

Brands,

Inc

(Class

A)

2,036,403‌

6,139

(a)

Freshpet,

Inc

352,379‌

55,845

Hershey

Co

10,462,561‌

70,080

Lamb

Weston

Holdings,

Inc

6,293,184‌

380,207

(a)

Monster

Beverage

Corp

19,428,578‌

484,695

PepsiCo,

Inc

79,141,000‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

184,081,405‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

4

.4

%

53,229

Abbott

Laboratories

5,032,802‌

137,882

(a),(b)

agilon

health,

Inc

2,481,876‌

39,003

(a)

Align

Technology,

Inc

7,199,564‌

80,934

AmerisourceBergen

Corp

14,984,930‌

67,987

Cardinal

Health,

Inc

6,186,817‌

83

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

9,144

(a)

Certara,

Inc

$

111,465‌

5,357

Chemed

Corp

3,014,116‌

10,535

Cigna

Group

3,257,422‌

28,675

(a)

DaVita,

Inc

2,214,570‌

197,623

(a)

DexCom,

Inc

17,554,851‌

20,715

(a)

Doximity,

Inc

423,208‌

307,717

(a)

Edwards

Lifesciences

Corp

19,607,727‌

16,113

Elevance

Health,

Inc

7,252,300‌

3,281

Encompass

Health

Corp

205,259‌

14,388

GE

HealthCare

Technologies,

Inc

957,809‌

16,247

(a)

Globus

Medical,

Inc

742,650‌

21,858

HCA,

Inc

4,942,968‌

27,110

Humana,

Inc

14,197,236‌

42,075

(a)

IDEXX

Laboratories,

Inc

16,807,700‌

14,009

(a)

Inspire

Medical

Systems,

Inc

2,061,565‌

35,402

(a)

Insulet

Corp

4,693,243‌

178,539

(a)

Intuitive

Surgical,

Inc

46,816,497‌

22,832

(a)

Masimo

Corp

1,852,360‌

25,979

McKesson

Corp

11,829,798‌

16,328

(a)

Molina

Healthcare,

Inc

5,436,408‌

43,177

(a)

Novocure

Ltd

574,254‌

18,524

(a)

Penumbra,

Inc

3,540,863‌

74,174

Resmed,

Inc

10,474,852‌

19,163

(a)

Shockwave

Medical,

Inc

3,952,560‌

46,122

Stryker

Corp

12,463,087‌

4,277

(a)

Tandem

Diabetes

Care,

Inc

73,992‌

399,009

UnitedHealth

Group,

Inc

213,693,260‌

73,991

(a)

Veeva

Systems,

Inc

14,258,806‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

458,896,815‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.8

%

111,810

Church

&

Dwight

Co,

Inc

10,168,001‌

63,174

Clorox

Co

7,435,580‌

35,342

Estee

Lauder

Cos

(Class

A)

4,554,524‌

294,491

Kenvue,

Inc

5,477,533‌

161,803

Kimberly-Clark

Corp

19,358,111‌

225,046

Procter

&

Gamble

Co

33,763,651‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

80,757,400‌

INSURANCE

-

0

.9

%

24,582

(a)

Arch

Capital

Group

Ltd

2,130,768‌

9,650

(a)

Brighthouse

Financial,

Inc

437,145‌

45,121

Brown

&

Brown,

Inc

3,132,300‌

2,782

Everest

Re

Group

Ltd

1,100,615‌

5,803

Gallagher

(Arthur

J.)

&

Co

1,366,548‌

11,410

Kinsale

Capital

Group,

Inc

3,809,913‌

18,356

Lincoln

National

Corp

399,610‌

202,343

Marsh

&

McLennan

Cos,

Inc

38,374,350‌

11,458

Primerica,

Inc

2,190,311‌

223,764

Progressive

Corp

35,374,851‌

6,411

RenaissanceRe

Holdings

Ltd

1,407,792‌

4,352

RLI

Corp

579,860‌

45,246

(a)

Ryan

Specialty

Holdings,

Inc

1,954,627‌

6,499

Willis

Towers

Watson

plc

1,533,049‌

TOTAL

INSURANCE

93,791,739‌

MATERIALS

-

0

.7

%

13,100

(b)

Ardagh

Metal

Packaging

S.A.

44,147‌

12,932

Avery

Dennison

Corp

2,251,073‌

11,643

(a)

Axalta

Coating

Systems

Ltd

305,396‌

11,452

Eagle

Materials,

Inc

1,762,577‌

98,774

Ecolab,

Inc

16,568,351‌

9,035

FMC

Corp

480,662‌

Large-Cap

Growth

Index

Fund

October

31,

2023

84

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

94,808

(a),(b)

Ginkgo

Bioworks

Holdings,

Inc

$

129,887‌

79,141

Graphic

Packaging

Holding

Co

1,702,323‌

23,570

Linde

plc

9,007,511‌

28,748

PPG

Industries,

Inc

3,529,392‌

11,772

RPM

International,

Inc

1,074,430‌

26,105

Scotts

Miracle-Gro

Co

(Class

A)

1,160,106‌

38,730

Sealed

Air

Corp

1,192,497‌

101,265

Sherwin-Williams

Co

24,122,336‌

41,164

Southern

Copper

Corp

2,918,528‌

21,967

Valvoline,

Inc

651,761‌

15,696

Vulcan

Materials

Co

3,084,107‌

TOTAL

MATERIALS

69,985,084‌

MEDIA

&

ENTERTAINMENT

-

11

.3

%

2,594,125

(a)

Alphabet,

Inc

325,043,862‌

3,030,991

(a)

Alphabet,

Inc

(Class

A)

376,085,363‌

201

Cable

One,

Inc

110,524‌

52,391

(a)

Charter

Communications,

Inc

21,103,095‌

11,749

(a)

Liberty

Broadband

Corp

978,809‌

674

(a)

Liberty

Broadband

Corp

(Class

A)

56,158‌

17,269

(a)

Live

Nation,

Inc

1,381,865‌

131,787

(a)

Match

Group,

Inc

4,559,830‌

1,128,113

(a)

Meta

Platforms,

Inc

339,866,604‌

223,674

(a)

NetFlix,

Inc

92,084,349‌

5,728

Nexstar

Media

Group,

Inc

802,378‌

303,052

(a)

Pinterest,

Inc

9,055,194‌

22,617

(a)

Playtika

Holding

Corp

189,983‌

234,526

(a)

ROBLOX

Corp

7,460,272‌

7,452

(a)

Roku,

Inc

443,916‌

71,622

(a)

Spotify

Technology

S.A.

11,800,441‌

21,264

(a)

TKO

Group

Holdings,

Inc

1,743,223‌

78,643

(a)

ZoomInfo

Technologies,

Inc

1,019,213‌

TOTAL

MEDIA

&

ENTERTAINMENT

1,193,785,079‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

6

.7

%

45,971

(a)

10X

Genomics,

Inc

1,621,857‌

900,367

AbbVie,

Inc

127,113,813‌

122,672

Agilent

Technologies,

Inc

12,680,605‌

50,781

(a)

Alnylam

Pharmaceuticals,

Inc

7,708,556‌

185,699

Amgen,

Inc

47,483,234‌

49,987

(a)

Apellis

Pharmaceuticals,

Inc

2,432,367‌

10,770

(a)

BioMarin

Pharmaceutical,

Inc

877,216‌

71,563

Bio-Techne

Corp

3,909,487‌

52,009

Bruker

BioSciences

Corp

2,964,513‌

431,673

Eli

Lilly

&

Co

239,116,625‌

30,222

(a)

Exact

Sciences

Corp

1,861,373‌

129,599

(a)

Exelixis,

Inc

2,668,443‌

5,922

(a)

ICON

plc

1,444,731‌

22,998

(a)

Illumina,

Inc

2,516,441‌

71,331

(a)

Incyte

Corp

3,846,881‌

63,618

(a)

Ionis

Pharmaceuticals,

Inc

2,816,369‌

87,322

(a)

IQVIA

Holdings,

Inc

15,790,437‌

16,144

(a)

Jazz

Pharmaceuticals

plc

2,050,611‌

15,506

(a)

Karuna

Therapeutics,

Inc

2,583,455‌

11,888

(a)

Maravai

LifeSciences

Holdings,

Inc

81,552‌

12,496

(a)

Medpace

Holdings,

Inc

3,032,404‌

238,576

Merck

&

Co,

Inc

24,501,755‌

11,127

(a)

Mettler-Toledo

International,

Inc

10,962,320‌

52,862

(a)

Natera,

Inc

2,086,463‌

49,353

(a)

Neurocrine

Biosciences,

Inc

5,475,222‌

3,429

(a)

Regeneron

Pharmaceuticals,

Inc

2,674,243‌

11,955

(a)

Repligen

Corp

1,608,665‌

167,633

(a)

Roivant

Sciences

Ltd

1,448,349‌

85

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

46,287

(a)

Sarepta

Therapeutics,

Inc

$

3,115,578‌

71,602

(a)

Seagen,

Inc

15,237,622‌

26,112

(a)

Sotera

Health

Co

330,578‌

121,488

Thermo

Fisher

Scientific,

Inc

54,034,218‌

33,794

(a)

Ultragenyx

Pharmaceutical,

Inc

1,196,308‌

120,338

(a)

Vertex

Pharmaceuticals,

Inc

43,575,593‌

29,912

(a)

Waters

Corp

7,134,909‌

37,807

West

Pharmaceutical

Services,

Inc

12,033,590‌

236,606

Zoetis,

Inc

37,147,142‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

707,163,525‌

RETAILING

-

7

.6

%

4,595,077

(a)

Amazon.com,

Inc

611,558,798‌

516,875

Home

Depot,

Inc

147,149,144‌

220,998

Lowe's

Cos,

Inc

42,115,589‌

TOTAL

RETAILING

800,823,531‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

9

.1

%

465,411

(a)

Advanced

Micro

Devices,

Inc

45,842,984‌

42,859

(a)

Allegro

MicroSystems,

Inc

1,112,620‌

362,567

Applied

Materials,

Inc

47,985,742‌

206,114

Broadcom,

Inc

173,418,136‌

67,981

(a)

Enphase

Energy,

Inc

5,409,928‌

3,776

Entegris,

Inc

332,439‌

70,122

KLA

Corp

32,936,303‌

64,912

Lam

Research

Corp

38,182,537‌

69,568

(a)

Lattice

Semiconductor

Corp

3,868,676‌

195,944

Microchip

Technology,

Inc

13,968,848‌

23,179

Monolithic

Power

Systems,

Inc

10,239,091‌

1,211,879

Nvidia

Corp

494,204,256‌

497,324

QUALCOMM,

Inc

54,203,343‌

66,576

Teradyne,

Inc

5,543,784‌

187,286

Texas

Instruments,

Inc

26,596,485‌

10,301

Universal

Display

Corp

1,433,693‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

955,278,865‌

SOFTWARE

&

SERVICES

-

20

.8

%

322,368

Accenture

plc

95,772,309‌

233,738

(a)

Adobe,

Inc

124,362,640‌

28,188

(a)

Alteryx,

Inc

902,298‌

36,578

(a)

Ansys,

Inc

10,178,194‌

28,463

(a)

AppLovin

Corp

1,037,192‌

73,937

(a)

Atlassian

Corp

Ltd

13,355,980‌

109,817

(a)

Autodesk,

Inc

21,703,134‌

93,516

Bentley

Systems,

Inc

4,548,618‌

138,032

(a)

Cadence

Design

Systems,

Inc

33,106,975‌

6,171

(a)

Ceridian

HCM

Holding,

Inc

395,006‌

146,916

(a)

Cloudflare,

Inc

8,328,668‌

87,817

(a)

Confluent,

Inc

2,538,789‌

107,556

(a)

Crowdstrike

Holdings,

Inc

19,012,674‌

139,517

(a)

Datadog,

Inc

11,366,450‌

103,752

(a)

DocuSign,

Inc

4,033,878‌

65,233

(a)

DoubleVerify

Holdings,

Inc

1,815,434‌

123,438

(a)

Dropbox,

Inc

3,246,419‌

121,538

(a)

Dynatrace,

Inc

5,433,964‌

38,744

(a)

Elastic

NV

2,907,350‌

28,400

(a)

EPAM

Systems,

Inc

6,178,988‌

12,379

(a)

Fair

Isaac

Corp

10,471,025‌

39,175

(a)

Five9,

Inc

2,267,057‌

335,625

(a)

Fortinet,

Inc

19,187,681‌

39,214

(a)

Gartner,

Inc

13,020,617‌

41,926

Gen

Digital,

Inc

698,487‌

44,246

(a)

Gitlab,

Inc

1,914,967‌

Large-Cap

Growth

Index

Fund

October

31,

2023

86

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

21,563

(a)

Globant

S.A.

$

3,671,963‌

45,563

(a)

GoDaddy,

Inc

3,336,579‌

30,968

(a)

HashiCorp,

Inc

609,760‌

23,329

(a)

HubSpot,

Inc

9,886,130‌

2,837

(a)

Informatica,

Inc

54,414‌

139,026

Intuit,

Inc

68,810,919‌

31,663

(a)

Manhattan

Associates,

Inc

6,173,652‌

3,795,692

Microsoft

Corp

1,283,361,422‌

33,555

(a)

MongoDB,

Inc

11,562,717‌

5,332

(a)

nCino

OpCo,

Inc

149,829‌

27,249

(a)

New

Relic,

Inc

2,361,671‌

27,297

(a)

Nutanix,

Inc

987,878‌

4,689

(a)

Okta,

Inc

316,085‌

316,573

Oracle

Corp

32,733,648‌

957,041

(a)

Palantir

Technologies,

Inc

14,164,207‌

153,771

(a)

Palo

Alto

Networks,

Inc

37,369,428‌

26,380

Paycom

Software,

Inc

6,462,309‌

12,365

(a),(b)

Paycor

HCM,

Inc

266,837‌

21,447

(a)

Paylocity

Holding

Corp

3,847,592‌

18,974

Pegasystems,

Inc

810,949‌

38,294

(a)

Procore

Technologies,

Inc

2,339,380‌

30,602

(a)

PTC,

Inc

4,297,133‌

43,129

(a)

RingCentral,

Inc

1,146,369‌

363,403

(a)

Salesforce,

Inc

72,982,224‌

12,259

(a)

SentinelOne,

Inc

191,608‌

103,906

(a)

ServiceNow,

Inc

60,457,706‌

62,234

(a)

Smartsheet,

Inc

2,460,732‌

158,374

(a)

Snowflake,

Inc

22,984,819‌

76,573

(a)

Splunk,

Inc

11,268,483‌

76,971

(a)

Synopsys,

Inc

36,133,266‌

49,348

(a)

Teradata

Corp

2,108,147‌

225,159

(a)

Trade

Desk,

Inc

15,977,283‌

13,614

(a)

Twilio,

Inc

697,854‌

16,190

(a)

Tyler

Technologies,

Inc

6,037,251‌

140,411

(a)

UiPath,

Inc

2,180,583‌

55,176

(a)

Unity

Software,

Inc

1,399,815‌

2,240

(a)

VeriSign,

Inc

447,238‌

109,930

(a)

VMware,

Inc

(Class

A)

16,011,305‌

101,086

(a)

Workday,

Inc

21,400,917‌

44,577

(a)

Zscaler,

Inc

7,073,924‌

TOTAL

SOFTWARE

&

SERVICES

2,192,318,820‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

13

.2

%

149,848

Amphenol

Corp

(Class

A)

12,070,257‌

7,611,335

Apple,

Inc

1,299,787,678‌

128,145

(a)

Arista

Networks,

Inc

25,676,414‌

65,046

CDW

Corp

13,035,219‌

86,028

HP,

Inc

2,265,117‌

41,473

Jabil

Inc

5,092,884‌

24,585

(a)

Keysight

Technologies,

Inc

3,000,599‌

77,675

Motorola

Solutions,

Inc

21,629,381‌

41,544

NetApp,

Inc

3,023,572‌

115,467

(a)

Pure

Storage,

Inc

3,903,939‌

823

Ubiquiti,

Inc

99,953‌

25,750

Vontier

Corp

761,170‌

4,505

(a)

Zebra

Technologies

Corp

(Class

A)

943,482‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

1,391,289,665‌

TELECOMMUNICATION

SERVICES

-

0

.0

%

63,589

Iridium

Communications,

Inc

2,355,972‌

TOTAL

TELECOMMUNICATION

SERVICES

2,355,972‌

87

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TRANSPORTATION

-

1

.1

%

5,492

(a),(b)

Amerco,

Inc

$

269,767‌

111,776

(a)

American

Airlines

Group,

Inc

1,246,302‌

3,428

(a)

Avis

Budget

Group,

Inc

558,078‌

47,336

CH

Robinson

Worldwide,

Inc

3,873,505‌

109,457

CSX

Corp

3,267,291‌

15,998

Delta

Air

Lines,

Inc

499,938‌

10,153

Expeditors

International

Washington,

Inc

1,109,215‌

7,925

JB

Hunt

Transport

Services,

Inc

1,362,070‌

16,365

Landstar

System,

Inc

2,696,625‌

151,217

(a)

Lyft,

Inc

(Class

A)

1,386,660‌

46,921

Old

Dominion

Freight

Line

17,673,264‌

1,418

(a)

Saia,

Inc

508,339‌

991,431

(a)

Uber

Technologies,

Inc

42,909,134‌

15,091

U-Haul

Holding

Co

712,446‌

133,366

Union

Pacific

Corp

27,688,115‌

102,537

United

Parcel

Service,

Inc

(Class

B)

14,483,351‌

TOTAL

TRANSPORTATION

120,244,100‌

UTILITIES

-

0

.0

%

198,996

AES

Corp

2,965,040‌

55,779

Vistra

Corp

1,825,089‌

TOTAL

UTILITIES

4,790,129‌

TOTAL

COMMON

STOCKS

10,526,336,121‌

(Cost

$4,821,519,865)

TOTAL

LONG-TERM

INVESTMENTS

10,526,336,121‌

(Cost

$4,821,519,865)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.0%

REPURCHASE

AGREEMENT

-

0

.0

%

$

266,000

(c)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

%

11/01/23

266,000‌

TOTAL

REPURCHASE

AGREEMENT

266,000‌

TOTAL

SHORT-TERM

INVESTMENTS

266,000‌

(Cost

$266,000)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.0%

3,027,850

(d)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

3,027,850‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

3,027,850‌

(Cost

$3,027,850)

TOTAL

INVESTMENTS

-

100.0%

10,529,629,971‌

(Cost

$4,824,813,715)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.0%

3,605,184‌

NET

ASSETS

-

100.0%

$

10,533,235,155‌

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$12,505,245.

(c)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$266,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$271,393.

(d)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Large-Cap

Value

Index

Fund

October

31,

2023

Portfolios

of

Investments

88

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.9%

COMMON

STOCKS

-

99.9%

AUTOMOBILES

&

COMPONENTS

-

0

.8

%

119,483

(a)

Aptiv

plc

$

10,418,918‌

99,930

BorgWarner,

Inc

3,687,417‌

1,731,247

Ford

Motor

Co

16,879,658‌

606,106

General

Motors

Co

17,092,189‌

101,858

Gentex

Corp

2,921,287‌

61,607

Harley-Davidson,

Inc

1,654,148‌

26,073

Lear

Corp

3,383,233‌

359,129

(a),(b)

Lucid

Group,

Inc

1,479,611‌

19,986

Phinia,

Inc

517,238‌

140,934

(a),(b)

QuantumScape

Corp

735,675‌

292,103

(a),(b)

Rivian

Automotive,

Inc

4,737,911‌

22,845

Thor

Industries,

Inc

2,008,761‌

TOTAL

AUTOMOBILES

&

COMPONENTS

65,516,046‌

BANKS

-

6

.2

%

3,065,937

Bank

of

America

Corp

80,756,781‌

47,830

Bank

OZK

1,712,792‌

11,727

BOK

Financial

Corp

768,353‌

859,949

Citigroup,

Inc

33,959,386‌

211,040

Citizens

Financial

Group,

Inc

4,944,667‌

86,944

Columbia

Banking

System,

Inc

1,710,188‌

56,576

Comerica,

Inc

2,229,094‌

50,932

Commerce

Bancshares,

Inc

2,233,877‌

26,818

Cullen/Frost

Bankers,

Inc

2,440,170‌

62,126

East

West

Bancorp,

Inc

3,331,196‌

293,403

Fifth

Third

Bancorp

6,956,585‌

4,322

First

Citizens

Bancshares,

Inc

(Class

A)

5,967,558‌

57,948

First

Hawaiian,

Inc

1,039,008‌

230,319

First

Horizon

National

Corp

2,475,929‌

160,829

FNB

Corp

1,719,262‌

635,341

Huntington

Bancshares,

Inc

6,131,041‌

1,272,866

JPMorgan

Chase

&

Co

177,004,746‌

428,300

Keycorp

4,377,226‌

73,444

M&T

Bank

Corp

8,280,811‌

309,932

New

York

Community

Bancorp,

Inc

2,938,155‌

314,080

(a)

NU

Holdings

Ltd

2,575,456‌

32,142

Pinnacle

Financial

Partners,

Inc

2,004,375‌

173,808

PNC

Financial

Services

Group,

Inc

19,895,802‌

30,544

Popular,

Inc

1,986,582‌

37,628

Prosperity

Bancshares,

Inc

2,052,231‌

403,985

Regions

Financial

Corp

5,869,902‌

63,268

Synovus

Financial

Corp

1,649,397‌

581,418

Truist

Financial

Corp

16,489,014‌

668,804

US

Bancorp

21,321,472‌

74,045

Webster

Financial

Corp

2,811,489‌

1,618,301

Wells

Fargo

&

Co

64,359,831‌

51,977

Western

Alliance

Bancorp

2,136,255‌

24,965

Wintrust

Financial

Corp

1,864,636‌

62,860

Zions

Bancorporation

1,939,231‌

TOTAL

BANKS

497,932,498‌

CAPITAL

GOODS

-

9

.6

%

242,156

3M

Co

22,024,088‌

47,352

A.O.

Smith

Corp

3,303,276‌

14,365

Acuity

Brands,

Inc

2,326,699‌

89

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

56,569

Aecom

Technology

Corp

$

4,330,357‌

27,038

AGCO

Corp

3,100,177‌

47,381

Air

Lease

Corp

1,640,804‌

2,844

Allegion

plc

279,736‌

35,440

Allison

Transmission

Holdings,

Inc

1,786,885‌

101,018

Ametek,

Inc

14,220,304‌

13,694

Armstrong

World

Industries,

Inc

1,039,238‌

56,429

(a)

AZEK

Co,

Inc

1,478,440‌

212,333

(a)

Boeing

Co

39,668,051‌

56,484

(a)

Builders

FirstSource,

Inc

6,129,644‌

32,704

BWX

Technologies,

Inc

2,429,253‌

21,895

Carlisle

Cos,

Inc

5,563,301‌

365,027

Carrier

Global

Corp

17,397,187‌

56,858

Caterpillar,

Inc

12,852,751‌

422,391

CNH

Industrial

NV

4,637,853‌

36,628

(a)

Core

&

Main,

Inc

1,101,770‌

21,896

Crane

Co

2,131,138‌

21,764

Crane

NXT

Co

1,131,728‌

61,945

Cummins,

Inc

13,398,703‌

17,050

Curtiss-Wright

Corp

3,389,710‌

7,668

Deere

&

Co

2,801,580‌

30,604

Donaldson

Co,

Inc

1,764,627‌

62,086

Dover

Corp

8,068,076‌

175,180

Eaton

Corp

plc

36,421,674‌

13,249

EMCOR

Group,

Inc

2,737,906‌

251,587

Emerson

Electric

Co

22,383,695‌

23,801

Esab

Corp

1,506,603‌

61,958

Fastenal

Co

3,614,630‌

85,655

Ferguson

plc

12,865,381‌

58,329

Flowserve

Corp

2,141,841‌

155,571

Fortive

Corp

10,155,675‌

54,621

Fortune

Brands

Innovations,

Inc

3,047,852‌

49,302

(a)

Gates

Industrial

Corp

plc

538,378‌

26,279

(a)

Generac

Holdings,

Inc

2,209,276‌

107,954

General

Dynamics

Corp

26,050,380‌

477,222

General

Electric

Co

51,840,626‌

42,675

Graco,

Inc

3,172,886‌

69,912

(a)

Hayward

Holdings,

Inc

734,076‌

1,237

HEICO

Corp

195,953‌

3,587

HEICO

Corp

(Class

A)

456,015‌

36,268

Hexcel

Corp

2,245,715‌

255,517

Honeywell

International,

Inc

46,826,045‌

163,935

Howmet

Aerospace,

Inc

7,229,533‌

12,596

Hubbell,

Inc

3,402,180‌

18,140

Huntington

Ingalls

Industries,

Inc

3,987,535‌

30,030

IDEX

Corp

5,748,042‌

25,065

Illinois

Tool

Works,

Inc

5,617,568‌

176,287

Ingersoll

Rand,

Inc

10,697,095‌

37,647

ITT,

Inc

3,514,347‌

304,459

Johnson

Controls

International

plc

14,924,580‌

82,796

L3Harris

Technologies,

Inc

14,854,430‌

14,245

Lennox

International,

Inc

5,278,342‌

1,567

Lincoln

Electric

Holdings,

Inc

273,912‌

101,663

Masco

Corp

5,295,626‌

27,853

(a)

Mastec,

Inc

1,655,582‌

91,216

MDU

Resources

Group,

Inc

1,697,530‌

22,193

(a)

Mercury

Computer

Systems,

Inc

798,504‌

24,824

(a)

Middleby

Corp

2,801,885‌

20,736

MSC

Industrial

Direct

Co

(Class

A)

1,964,736‌

24,715

Nordson

Corp

5,254,162‌

59,440

Northrop

Grumman

Corp

28,021,799‌

71,131

nVent

Electric

plc

3,423,535‌

29,495

Oshkosh

Corp

2,587,596‌

Large-Cap

Value

Index

Fund

October

31,

2023

90

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

173,482

Otis

Worldwide

Corp

$

13,394,545‌

40,571

Owens

Corning,

Inc

4,599,534‌

224,071

PACCAR,

Inc

18,492,580‌

55,864

Parker-Hannifin

Corp

20,608,788‌

71,714

Pentair

plc

4,168,018‌

255,401

(a),(b)

Plug

Power,

Inc

1,504,312‌

45,794

Quanta

Services,

Inc

7,653,093‌

12,215

(a)

RBC

Bearings,

Inc

2,685,346‌

29,972

Regal-Beloit

Corp

3,548,984‌

643,193

RTX

Corp

52,349,478‌

65,705

Sensata

Technologies

Holding

plc

2,094,675‌

13,020

(a)

SiteOne

Landscape

Supply,

Inc

1,793,765‌

23,358

Snap-On,

Inc

6,024,962‌

40,509

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

915,503‌

65,477

Stanley

Black

&

Decker,

Inc

5,568,819‌

92,661

(a)

Sunrun,

Inc

894,179‌

89,800

Textron,

Inc

6,824,800‌

27,031

Timken

Co

1,868,383‌

70,726

Trane

Technologies

plc

13,459,865‌

19,121

(a)

TransDigm

Group,

Inc

15,833,909‌

24,133

United

Rentals,

Inc

9,804,514‌

8,372

Valmont

Industries,

Inc

1,648,531‌

139,839

Vertiv

Holdings

Co

5,491,478‌

10,775

Watsco,

Inc

3,759,290‌

19,117

WESCO

International,

Inc

2,450,799‌

78,909

Westinghouse

Air

Brake

Technologies

Corp

8,365,932‌

63,564

(a)

WillScot

Mobile

Mini

Holdings

Corp

2,505,057‌

25,953

Woodward

Inc

3,236,339‌

92,581

Xylem,

Inc

8,660,027‌

TOTAL

CAPITAL

GOODS

766,374,007‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1

.2

%

52,102

(a)

ARAMARK

Uniform

Services

796,640‌

26,319

Automatic

Data

Processing,

Inc

5,743,332‌

8,308

Broadridge

Financial

Solutions,

Inc

1,417,677‌

9,750

(a)

CACI

International,

Inc

(Class

A)

3,166,410‌

4,527

Cintas

Corp

2,295,732‌

208,273

(a),(b)

Clarivate

plc

1,328,782‌

22,392

(a)

Clean

Harbors,

Inc

3,440,979‌

18,332

Concentrix

Corp

1,397,082‌

102,792

(a)

CoStar

Group,

Inc

7,545,961‌

25,469

(a)

Driven

Brands

Holdings,

Inc

289,837‌

109,291

Dun

&

Bradstreet

Holdings,

Inc

957,389‌

16,224

Equifax,

Inc

2,751,104‌

12,832

(a)

FTI

Consulting,

Inc

2,723,720‌

58,175

Genpact

Ltd

1,951,189‌

55,882

Jacobs

Solutions,

Inc

7,449,071‌

37,167

KBR,

Inc

2,161,261‌

58,862

Leidos

Holdings,

Inc

5,834,401‌

21,463

Manpower,

Inc

1,501,766‌

13,229

MSA

Safety,

Inc

2,088,595‌

18,446

RB

Global,

Inc

1,206,368‌

92,331

Republic

Services,

Inc

13,710,230‌

45,443

Robert

Half

International,

Inc

3,397,773‌

23,395

Science

Applications

International

Corp

2,555,670‌

98,503

SS&C

Technologies

Holdings,

Inc

4,949,776‌

39,894

(a)

Stericycle,

Inc

1,645,229‌

18,753

Tetra

Tech,

Inc

2,830,015‌

86,641

TransUnion

3,801,807‌

96,605

(a)

Veralto

Corp

6,665,745‌

19,015

Waste

Management,

Inc

3,124,735‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

98,728,276‌

91

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0

.8

%

28,080

Advance

Auto

Parts,

Inc

$

1,461,002‌

14,351

(a)

Autonation,

Inc

1,866,778‌

1,310

(a)

Autozone,

Inc

3,245,040‌

101,783

Bath

&

Body

Works,

Inc

3,017,866‌

72,669

Best

Buy

Co,

Inc

4,855,743‌

64,437

(a)

Carmax,

Inc

3,936,456‌

24,381

Dick's

Sporting

Goods,

Inc

2,607,548‌

222,165

eBay,

Inc

8,715,533‌

23,279

(a)

Etsy,

Inc

1,450,282‌

118,031

(a),(b)

GameStop

Corp

(Class

A)

1,625,287‌

96,775

Gap,

Inc

1,238,720‌

60,630

Genuine

Parts

Co

7,812,782‌

49,475

Kohl's

Corp

1,115,661‌

12,083

Lithia

Motors,

Inc

(Class

A)

2,926,623‌

115,906

LKQ

Corp

5,090,592‌

140,002

Macy's,

Inc

1,705,224‌

452

Murphy

USA,

Inc

163,936‌

67,253

(b)

Nordstrom,

Inc

940,197‌

18,081

(a)

Ollie's

Bargain

Outlet

Holdings,

Inc

1,396,577‌

4,013

(a)

O'Reilly

Automotive,

Inc

3,733,856‌

8,676

Penske

Auto

Group,

Inc

1,241,362‌

34,977

(a)

Petco

Health

&

Wellness

Co,

Inc

121,020‌

5,876

(a)

RH

1,280,733‌

9,728

Ross

Stores,

Inc

1,128,156‌

25,757

(a)

Victoria's

Secret

&

Co

460,535‌

25,999

(a)

Wayfair,

Inc

1,107,817‌

24,527

Williams-Sonoma,

Inc

3,684,937‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

67,930,263‌

CONSUMER

DURABLES

&

APPAREL

-

1

.4

%

27,395

Brunswick

Corp

1,903,131‌

54,278

(a)

Capri

Holdings

Ltd

2,777,948‌

15,043

Carter's,

Inc

1,010,288‌

15,726

Columbia

Sportswear

Co

1,160,579‌

137,140

DR

Horton,

Inc

14,317,416‌

68,803

(a)

Garmin

Ltd

7,054,372‌

58,564

Hasbro,

Inc

2,644,165‌

57,443

Leggett

&

Platt,

Inc

1,345,889‌

109,644

Lennar

Corp

(Class

A)

11,696,822‌

8,305

Lennar

Corp

(Class

B)

818,956‌

152,090

(a)

Mattel,

Inc

2,901,877‌

23,423

(a)

Mohawk

Industries,

Inc

1,882,741‌

163,608

Newell

Rubbermaid,

Inc

1,099,446‌

244,732

Nike,

Inc

(Class

B)

25,151,108‌

1,164

(a)

NVR,

Inc

6,300,290‌

21,242

Polaris

Industries,

Inc

1,835,734‌

98,439

Pulte

Homes,

Inc

7,244,126‌

27,194

PVH

Corp

2,021,874‌

17,559

Ralph

Lauren

Corp

1,975,914‌

55,150

(a)

Skechers

U.S.A.,

Inc

(Class

A)

2,659,333‌

95,449

Tapestry,

Inc

2,630,574‌

57,455

Tempur

Sealy

International,

Inc

2,294,178‌

50,244

Toll

Brothers,

Inc

3,552,753‌

12,798

(a)

TopBuild

Corp

2,927,670‌

82,356

(a)

Under

Armour,

Inc

(Class

A)

564,139‌

82,468

(a)

Under

Armour,

Inc

(Class

C)

530,269‌

151,980

VF

Corp

2,238,665‌

22,483

Whirlpool

Corp

2,350,822‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

114,891,079‌

CONSUMER

SERVICES

-

1

.4

%

81,191

ADT,

Inc

459,541‌

104,205

Aramark

2,806,241‌

Large-Cap

Value

Index

Fund

October

31,

2023

92

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

32,315

Boyd

Gaming

Corp

$

1,785,404‌

21,736

(a)

Bright

Horizons

Family

Solutions,

Inc

1,609,768‌

56,520

(a)

Caesars

Entertainment,

Inc

2,254,583‌

442,830

(a)

Carnival

Corp

5,074,832‌

27,810

Darden

Restaurants,

Inc

4,047,189‌

28,300

(a)

DoorDash,

Inc

2,121,085‌

16,635

(a)

Expedia

Group,

Inc

1,585,149‌

9,412

(a)

Grand

Canyon

Education,

Inc

1,113,722‌

23,092

H&R

Block,

Inc

947,927‌

60,242

Hilton

Worldwide

Holdings,

Inc

9,128,470‌

21,043

Hyatt

Hotels

Corp

2,155,645‌

9,727

Las

Vegas

Sands

Corp

461,643‌

16,226

Marriott

Vacations

Worldwide

Corp

1,458,068‌

188,519

McDonald's

Corp

49,424,026‌

129,616

MGM

Resorts

International

4,526,191‌

32,333

(a),(b)

Mister

Car

Wash,

Inc

168,132‌

138,632

(a),(b)

Norwegian

Cruise

Line

Holdings

Ltd

1,885,395‌

71,963

(a)

Penn

National

Gaming,

Inc

1,419,830‌

19,262

(a)

Planet

Fitness,

Inc

1,064,611‌

70,716

(a)

Royal

Caribbean

Cruises

Ltd

5,991,767‌

40,891

Service

Corp

International

2,225,288‌

17,542

Travel

&

Leisure

Co

596,954‌

15,573

Vail

Resorts,

Inc

3,305,369‌

33,741

Wyndham

Hotels

&

Resorts,

Inc

2,442,848‌

42,146

Wynn

Resorts

Ltd

3,699,576‌

14,789

Yum!

Brands,

Inc

1,787,399‌

TOTAL

CONSUMER

SERVICES

115,546,653‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.9

%

173,642

Albertsons

Cos,

Inc

3,768,032‌

37,589

(a)

BJ's

Wholesale

Club

Holdings,

Inc

2,560,563‌

13,775

Casey's

General

Stores,

Inc

3,745,560‌

91,890

(a)

Dollar

Tree,

Inc

10,208,060‌

44,769

(a)

Grocery

Outlet

Holding

Corp

1,238,758‌

286,383

Kroger

Co

12,993,197‌

35,090

(a)

Performance

Food

Group

Co

2,026,798‌

98,560

(a)

US

Foods

Holding

Corp

3,837,926‌

309,665

Walgreens

Boots

Alliance,

Inc

6,527,738‌

629,960

Walmart,

Inc

102,941,764‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

149,848,396‌

ENERGY

-

8

.9

%

114,925

Antero

Midstream

Corp

1,418,175‌

122,179

(a)

Antero

Resources

Corp

3,596,950‌

15,285

APA

Corp

607,120‌

450,820

Baker

Hughes

Co

15,517,224‌

334,570

Cabot

Oil

&

Gas

Corp

9,200,675‌

55,209

Chesapeake

Energy

Corp

4,752,391‌

780,552

Chevron

Corp

113,749,843‌

535,668

ConocoPhillips

63,637,358‌

282,151

Devon

Energy

Corp

13,139,772‌

79,980

Diamondback

Energy,

Inc

12,822,394‌

41,538

DT

Midstream,

Inc

2,241,806‌

258,452

EOG

Resources,

Inc

32,629,565‌

161,666

EQT

Corp

6,851,405‌

1,766,344

Exxon

Mobil

Corp

186,967,512‌

317,143

Halliburton

Co

12,476,406‌

53,105

Hess

Corp

7,668,362‌

64,591

HF

Sinclair

Corp

3,577,050‌

859,407

Kinder

Morgan,

Inc

13,922,393‌

276,969

Marathon

Oil

Corp

7,564,023‌

186,940

Marathon

Petroleum

Corp

28,274,675‌

176,888

NOV,

Inc

3,530,684‌

93

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

308,903

Occidental

Petroleum

Corp

$

19,093,294‌

186,598

ONEOK,

Inc

12,166,190‌

58,389

Ovintiv,

Inc

2,802,672‌

201,767

Phillips

66

23,015,562‌

102,701

Pioneer

Natural

Resources

Co

24,545,539‌

101,144

Range

Resources

Corp

3,625,001‌

627,063

Schlumberger

Ltd

34,902,327‌

492,172

(a)

Southwestern

Energy

Co

3,509,186‌

189,669

TechnipFMC

plc

4,081,677‌

155,207

Valero

Energy

Corp

19,711,289‌

532,653

Williams

Cos,

Inc

18,323,263‌

TOTAL

ENERGY

709,921,783‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

4

.3

%

38,450

Agree

Realty

Corp

2,150,893‌

75,614

Alexandria

Real

Estate

Equities,

Inc

7,041,932‌

143,894

American

Homes

4

Rent

4,711,090‌

118,545

Americold

Realty

Trust,

Inc

3,108,250‌

67,085

Apartment

Income

REIT

Corp

1,959,553‌

61,287

AvalonBay

Communities,

Inc

10,157,707‌

70,133

Boston

Properties,

Inc

3,757,025‌

140,850

Brixmor

Property

Group,

Inc

2,928,272‌

44,838

Camden

Property

Trust

3,805,849‌

68,757

Cousins

Properties,

Inc

1,228,688‌

168,994

Crown

Castle,

Inc

15,713,062‌

97,169

CubeSmart

3,312,491‌

131,598

Digital

Realty

Trust,

Inc

16,365,527‌

18,989

EastGroup

Properties,

Inc

3,099,954‌

33,258

EPR

Properties

1,420,117‌

20,362

Equinix,

Inc

14,856,930‌

51,670

Equity

Lifestyle

Properties,

Inc

3,399,886‌

163,535

Equity

Residential

9,048,392‌

27,378

Essex

Property

Trust,

Inc

5,856,702‌

91,249

Extra

Space

Storage,

Inc

9,452,484‌

34,761

Federal

Realty

Investment

Trust

3,169,856‌

57,027

First

Industrial

Realty

Trust,

Inc

2,412,242‌

110,618

Gaming

and

Leisure

Properties,

Inc

5,020,951‌

165,364

Healthcare

Realty

Trust,

Inc

2,372,973‌

230,973

Healthpeak

Properties,

Inc

3,591,630‌

47,026

Highwoods

Properties,

Inc

841,295‌

305,540

Host

Marriott

Corp

4,729,759‌

15,152

(a)

Howard

Hughes

Holdings,

Inc

1,005,032‌

270,354

Invitation

Homes,

Inc

8,026,810‌

67,244

Iron

Mountain,

Inc

3,972,103‌

49,990

Kilroy

Realty

Corp

1,428,714‌

254,090

Kimco

Realty

Corp

4,558,375‌

11,516

Lamar

Advertising

Co

947,421‌

295,628

Medical

Properties

Trust,

Inc

1,413,102‌

50,763

Mid-America

Apartment

Communities,

Inc

5,997,648‌

83,643

National

Retail

Properties,

Inc

3,038,750‌

36,895

National

Storage

Affiliates

Trust

1,052,245‌

101,196

Omega

Healthcare

Investors,

Inc

3,349,588‌

107,954

Park

Hotels

&

Resorts,

Inc

1,244,710‌

406,388

Prologis,

Inc

40,943,591‌

29,305

Public

Storage,

Inc

6,995,397‌

63,861

Rayonier,

Inc

1,611,852‌

296,930

Realty

Income

Corp

14,068,543‌

78,670

Regency

Centers

Corp

4,740,654‌

86,509

Rexford

Industrial

Realty,

Inc

3,740,649‌

42,914

SBA

Communications

Corp

8,953,148‌

111,784

Simon

Property

Group,

Inc

12,283,944‌

62,103

Spirit

Realty

Capital,

Inc

2,235,087‌

77,581

STAG

Industrial,

Inc

2,577,241‌

Large-Cap

Value

Index

Fund

October

31,

2023

94

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)—continued

41,534

Sun

Communities,

Inc

$

4,620,242‌

133,857

UDR,

Inc

4,257,991‌

176,195

Ventas,

Inc

7,481,240‌

448,417

VICI

Properties,

Inc

12,510,834‌

78,622

Vornado

Realty

Trust

1,509,542‌

218,002

Welltower,

Inc

18,227,147‌

322,551

Weyerhaeuser

Co

9,253,988‌

91,619

WP

Carey,

Inc

4,915,359‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

342,474,457‌

FINANCIAL

SERVICES

-

11

.1

%

15,404

Affiliated

Managers

Group,

Inc

1,890,995‌

106,136

(a),(b)

Affirm

Holdings,

Inc

1,869,055‌

256,386

AGNC

Investment

Corp

1,892,129‌

125,878

Ally

Financial,

Inc

3,044,989‌

174,917

American

Express

Co

25,543,130‌

214,672

Annaly

Capital

Management,

Inc

3,351,030‌

347,455

Bank

of

New

York

Mellon

Corp

14,766,838‌

807,468

(a)

Berkshire

Hathaway,

Inc

275,613,053‌

65,563

BlackRock,

Inc

40,142,914‌

151,912

(a)

Block,

Inc

6,114,458‌

164,296

(b)

Blue

Owl

Capital,

Inc

2,025,770‌

168,260

Capital

One

Financial

Corp

17,043,055‌

89,998

Carlyle

Group,

Inc

2,478,545‌

45,456

Cboe

Global

Markets,

Inc

7,449,784‌

650,260

Charles

Schwab

Corp

33,839,530‌

159,020

CME

Group,

Inc

33,944,409‌

73,087

(a)

Coinbase

Global,

Inc

5,636,469‌

77,663

Corebridge

Financial,

Inc

1,553,260‌

2,956

(a),(b)

Credit

Acceptance

Corp

1,189,583‌

111,254

Discover

Financial

Services

9,131,728‌

10,237

(a)

Euronet

Worldwide,

Inc

786,611‌

15,724

Evercore

Partners,

Inc

(Class

A)

2,046,950‌

259,690

Fidelity

National

Information

Services,

Inc

12,753,376‌

194,379

(a)

Fiserv,

Inc

22,110,611‌

2,174

(a)

FleetCor

Technologies,

Inc

489,520‌

124,608

Franklin

Resources,

Inc

2,839,816‌

115,461

Global

Payments,

Inc

12,264,267‌

142,034

Goldman

Sachs

Group,

Inc

43,122,943‌

19,889

Houlihan

Lokey,

Inc

1,999,242‌

43,117

Interactive

Brokers

Group,

Inc

(Class

A)

3,452,378‌

249,575

Intercontinental

Exchange,

Inc

26,814,338‌

162,301

Invesco

Ltd

2,105,044‌

486,762

iShares

Russell

1000

Value

Index

Fund

71,271,692‌

21,466

Jack

Henry

&

Associates,

Inc

3,026,491‌

59,887

Janus

Henderson

Group

plc

1,381,593‌

88,939

Jefferies

Financial

Group,

Inc

2,862,057‌

214,084

KKR

&

Co,

Inc

11,860,254‌

47,282

Lazard

Ltd

(Class

A)

1,313,021‌

123,081

MGIC

Investment

Corp

2,072,684‌

6,616

Moody's

Corp

2,037,728‌

529,004

Morgan

Stanley

37,464,063‌

17,279

MSCI,

Inc

(Class

A)

8,147,913‌

149,690

Nasdaq

Stock

Market,

Inc

7,424,624‌

88,552

Northern

Trust

Corp

5,836,462‌

51,106

OneMain

Holdings,

Inc

1,836,239‌

45,648

(a)

PayPal

Holdings,

Inc

2,364,566‌

83,373

Raymond

James

Financial,

Inc

7,957,119‌

217,058

Rithm

Capital

Corp

2,025,151‌

289,091

(a)

Robinhood

Markets,

Inc

2,642,292‌

44,660

(a),(b)

Rocket

Cos,

Inc

330,037‌

129,613

S&P

Global,

Inc

45,275,117‌

44,993

SEI

Investments

Co

2,414,324‌

95

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

60,024

SLM

Corp

$

780,312‌

396,348

(a),(b)

SoFi

Technologies,

Inc

2,992,427‌

127,534

Starwood

Property

Trust,

Inc

2,263,729‌

140,201

State

Street

Corp

9,061,191‌

43,550

Stifel

Financial

Corp

2,482,350‌

189,254

Synchrony

Financial

5,308,575‌

96,878

T

Rowe

Price

Group,

Inc

8,767,459‌

25,692

TFS

Financial

Corp

304,707‌

19,684

(b)

TPG,

Inc

544,066‌

32,382

Tradeweb

Markets,

Inc

2,914,704‌

39,670

(b)

UWM

Holdings

Corp

192,400‌

40,188

Virtu

Financial,

Inc

743,076‌

42,571

Voya

Financial,

Inc

2,842,466‌

137,904

Western

Union

Co

1,556,936‌

10,013

(a)

WEX,

Inc

1,666,964‌

131,613

XP,

Inc

2,632,260‌

TOTAL

FINANCIAL

SERVICES

883,902,869‌

FOOD,

BEVERAGE

&

TOBACCO

-

4

.4

%

784,409

Altria

Group,

Inc

31,509,710‌

237,181

Archer-Daniels-Midland

Co

16,975,044‌

309

(a)

Boston

Beer

Co,

Inc

(Class

A)

103,191‌

8,187

Brown-Forman

Corp

(Class

A)

470,098‌

16,370

Brown-Forman

Corp

(Class

B)

919,339‌

64,537

Bunge

Ltd

6,839,631‌

87,779

Campbell

Soup

Co

3,547,149‌

868,708

Coca-Cola

Co

49,073,315‌

205,059

ConAgra

Brands,

Inc

5,610,414‌

63,890

Constellation

Brands,

Inc

(Class

A)

14,959,843‌

68,475

(a)

Darling

International,

Inc

3,032,758‌

80,810

Flowers

Foods,

Inc

1,772,163‌

14,305

(a)

Freshpet,

Inc

821,107‌

260,469

General

Mills,

Inc

16,992,998‌

17,311

Hershey

Co

3,243,216‌

131,397

Hormel

Foods

Corp

4,276,972‌

30,058

Ingredion,

Inc

2,812,828‌

44,559

J.M.

Smucker

Co

5,072,597‌

115,278

Kellogg

Co

5,818,081‌

418,557

Keurig

Dr

Pepper,

Inc

12,694,834‌

352,981

Kraft

Heinz

Co

11,104,782‌

5,554

Lamb

Weston

Holdings,

Inc

498,749‌

110,589

McCormick

&

Co,

Inc

7,066,637‌

75,538

Molson

Coors

Brewing

Co

(Class

B)

4,363,830‌

597,469

Mondelez

International,

Inc

39,558,422‌

188,350

PepsiCo,

Inc

30,753,788‌

683,054

Philip

Morris

International,

Inc

60,901,095‌

17,742

(a)

Pilgrim's

Pride

Corp

452,421‌

24,114

(a)

Post

Holdings,

Inc

1,935,872‌

120

Seaboard

Corp

420,834‌

119,055

Tyson

Foods,

Inc

(Class

A)

5,518,199‌

28,819

(a)

WK

Kellogg

Co

288,766‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

349,408,683‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

6

.7

%

716,615

Abbott

Laboratories

67,755,948‌

40,899

(a)

Acadia

Healthcare

Co,

Inc

3,006,485‌

15,987

(a),(b)

agilon

health,

Inc

287,766‌

13,900

(a)

Amedisys,

Inc

1,271,711‌

218,521

Baxter

International,

Inc

7,086,636‌

124,656

Becton

Dickinson

&

Co

31,510,544‌

636,179

(a)

Boston

Scientific

Corp

32,566,003‌

57,226

Cardinal

Health,

Inc

5,207,566‌

238,442

(a)

Centene

Corp

16,447,729‌

Large-Cap

Value

Index

Fund

October

31,

2023

96

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

32,917

(a)

Certara,

Inc

$

401,258‌

1,703

Chemed

Corp

958,193‌

118,881

Cigna

Group

36,758,005‌

21,496

Cooper

Cos,

Inc

6,701,378‌

561,729

CVS

Health

Corp

38,764,918‌

93,497

Dentsply

Sirona,

Inc

2,843,244‌

29,602

(a)

Doximity,

Inc

604,769‌

90,286

Elevance

Health,

Inc

40,636,826‌

39,515

Encompass

Health

Corp

2,472,058‌

23,043

(a)

Enovis

Corp

1,057,674‌

69,429

(a)

Envista

Holdings

Corp

1,615,613‌

158,290

GE

HealthCare

Technologies,

Inc

10,537,365‌

33,256

(a)

Globus

Medical,

Inc

1,520,132‌

71,718

HCA,

Inc

16,218,309‌

56,318

(a)

Henry

Schein,

Inc

3,659,544‌

108,253

(a)

Hologic,

Inc

7,163,101‌

31,573

Humana,

Inc

16,534,464‌

8,735

(a)

ICU

Medical,

Inc

856,554‌

30,512

(a)

Integra

LifeSciences

Holdings

Corp

1,097,212‌

38,242

Laboratory

Corp

of

America

Holdings

7,638,075‌

36,999

McKesson

Corp

16,847,865‌

585,392

Medtronic

plc

41,305,260‌

11,385

(a)

Molina

Healthcare,

Inc

3,790,636‌

51,297

Premier,

Inc

985,928‌

66,048

(a)

Project

Roadrunner

Parent,

Inc

778,706‌

50,014

Quest

Diagnostics,

Inc

6,506,821‌

23,974

(a)

QuidelOrtho

Corp

1,464,332‌

43,984

STERIS

plc

9,235,760‌

116,587

Stryker

Corp

31,504,139‌

24,078

(a)

Tandem

Diabetes

Care,

Inc

416,549‌

75,506

(a)

Teladoc

Health,

Inc

1,248,869‌

20,299

Teleflex,

Inc

3,750,240‌

43,613

(a)

Tenet

Healthcare

Corp

2,342,018‌

65,473

UnitedHealth

Group,

Inc

35,064,720‌

26,183

Universal

Health

Services,

Inc

(Class

B)

3,296,178‌

92,146

Zimmer

Biomet

Holdings,

Inc

9,620,964‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

531,338,065‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

2

.2

%

10,982

Church

&

Dwight

Co,

Inc

998,703‌

364,459

Colgate-Palmolive

Co

27,378,160‌

153,022

(a)

Coty,

Inc

1,433,816‌

68,098

Estee

Lauder

Cos

(Class

A)

8,775,789‌

505,481

Kenvue,

Inc

9,401,947‌

10,126

Kimberly-Clark

Corp

1,211,475‌

56,282

(a)

Olaplex

Holdings,

Inc

79,920‌

843,098

Procter

&

Gamble

Co

126,489,993‌

29,843

Reynolds

Consumer

Products,

Inc

758,907‌

17,483

Spectrum

Brands

Holdings,

Inc

1,316,820‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

177,845,530‌

INSURANCE

-

4

.2

%

266,456

Aflac,

Inc

20,812,878‌

113,392

Allstate

Corp

14,528,917‌

31,435

American

Financial

Group,

Inc

3,437,732‌

321,565

American

International

Group,

Inc

19,715,150‌

88,926

Aon

plc

27,513,704‌

132,807

(a)

Arch

Capital

Group

Ltd

11,511,711‌

22,825

Assurant,

Inc

3,398,643‌

25,181

Assured

Guaranty

Ltd

1,571,294‌

34,337

Axis

Capital

Holdings

Ltd

1,960,643‌

30,963

(a)

Brighthouse

Financial,

Inc

1,402,624‌

62,509

Brown

&

Brown,

Inc

4,339,375‌

97

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

182,137

Chubb

Ltd

$

39,090,243‌

68,091

Cincinnati

Financial

Corp

6,786,630‌

15,964

CNA

Financial

Corp

644,946‌

15,823

Everest

Re

Group

Ltd

6,259,895‌

118,035

Fidelity

National

Financial,

Inc

4,613,988‌

44,362

First

American

Financial

Corp

2,281,981‌

88,458

Gallagher

(Arthur

J.)

&

Co

20,830,974‌

38,224

Globe

Life,

Inc

4,447,745‌

15,391

Hanover

Insurance

Group,

Inc

1,803,979‌

135,212

Hartford

Financial

Services

Group,

Inc

9,931,321‌

26,911

Kemper

Corp

1,073,211‌

69,303

Lincoln

National

Corp

1,508,726‌

81,805

Loews

Corp

5,236,338‌

5,850

(a)

Markel

Corp

8,602,542‌

43,671

Marsh

&

McLennan

Cos,

Inc

8,282,205‌

284,610

Metlife,

Inc

17,079,446‌

122,698

Old

Republic

International

Corp

3,359,471‌

6,756

Primerica,

Inc

1,291,477‌

106,979

Principal

Financial

Group

7,240,339‌

63,447

Progressive

Corp

10,030,336‌

161,357

Prudential

Financial,

Inc

14,754,484‌

29,714

Reinsurance

Group

of

America,

Inc

(Class

A)

4,441,352‌

15,596

RenaissanceRe

Holdings

Ltd

3,424,726‌

13,535

RLI

Corp

1,803,403‌

100,839

Travelers

Cos,

Inc

16,884,482‌

86,484

Unum

Group

4,229,068‌

92,563

W.R.

Berkley

Corp

6,240,597‌

1,137

White

Mountains

Insurance

Group

Ltd

1,626,763‌

41,399

Willis

Towers

Watson

plc

9,765,610‌

TOTAL

INSURANCE

333,758,949‌

MATERIALS

-

4

.9

%

97,585

Air

Products

&

Chemicals,

Inc

27,561,907‌

51,515

Albemarle

Corp

6,531,072‌

78,103

Alcoa

Corp

2,002,561‌

666,212

Amcor

plc

5,922,625‌

28,263

Aptargroup,

Inc

3,455,717‌

10,402

(a),(c)

Ardagh

Group

S.A.

51,022‌

20,707

(b)

Ardagh

Metal

Packaging

S.A.

69,782‌

21,650

Ashland,

Inc

1,659,039‌

23,415

Avery

Dennison

Corp

4,075,849‌

85,369

(a)

Axalta

Coating

Systems

Ltd

2,239,229‌

133,158

Ball

Corp

6,411,558‌

52,470

Berry

Global

Group,

Inc

2,885,850‌

44,727

Celanese

Corp

(Series

A)

5,121,689‌

84,497

CF

Industries

Holdings,

Inc

6,741,171‌

64,223

Chemours

Co

1,548,416‌

236,748

(a)

Cleveland-Cliffs,

Inc

3,972,631‌

311,860

Corteva,

Inc

15,012,940‌

45,840

Crown

Holdings,

Inc

3,694,704‌

311,496

Dow,

Inc

15,057,717‌

201,975

DuPont

de

Nemours,

Inc

14,719,938‌

6,348

Eagle

Materials,

Inc

977,021‌

52,107

Eastman

Chemical

Co

3,893,956‌

25,232

Ecolab,

Inc

4,232,416‌

96,428

Element

Solutions,

Inc

1,757,882‌

45,923

FMC

Corp

2,443,104‌

629,148

Freeport-McMoRan,

Inc

(Class

B)

21,252,619‌

602,942

(a),(b)

Ginkgo

Bioworks

Holdings,

Inc

826,030‌

61,178

Graphic

Packaging

Holding

Co

1,315,939‌

78,504

Huntsman

Corp

1,831,498‌

112,771

International

Flavors

&

Fragrances,

Inc

7,707,898‌

152,293

International

Paper

Co

5,136,843‌

Large-Cap

Value

Index

Fund

October

31,

2023

98

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

196,314

Linde

plc

$

75,023,358‌

28,978

Louisiana-Pacific

Corp

1,485,992‌

114,379

LyondellBasell

Industries

NV

10,321,561‌

27,255

Martin

Marietta

Materials,

Inc

11,145,660‌

143,017

Mosaic

Co

4,645,192‌

44,935

(a),(b)

MP

Materials

Corp

736,934‌

2,846

NewMarket

Corp

1,372,199‌

508,445

Newmont

Goldcorp

Corp

19,051,434‌

111,613

Nucor

Corp

16,495,285‌

58,031

Olin

Corp

2,479,084‌

39,975

Packaging

Corp

of

America

6,118,174‌

77,369

PPG

Industries,

Inc

9,498,592‌

25,555

Reliance

Steel

&

Aluminum

Co

6,500,681‌

28,915

Royal

Gold,

Inc

3,016,702‌

44,459

RPM

International,

Inc

4,057,773‌

27,768

Sealed

Air

Corp

854,977‌

17,178

Sherwin-Williams

Co

4,091,971‌

38,527

Silgan

Holdings,

Inc

1,543,392‌

42,180

Sonoco

Products

Co

2,185,346‌

92,143

SSR

Mining,

Inc

1,278,945‌

69,431

Steel

Dynamics,

Inc

7,395,096‌

105,474

United

States

Steel

Corp

3,574,514‌

54,722

Valvoline,

Inc

1,623,602‌

44,669

Vulcan

Materials

Co

8,777,012‌

14,342

Westlake

Chemical

Corp

1,654,493‌

109,771

Westrock

Co

3,944,072‌

TOTAL

MATERIALS

388,982,664‌

MEDIA

&

ENTERTAINMENT

-

2

.9

%

2,263

Cable

One,

Inc

1,244,356‌

1,804,237

Comcast

Corp

(Class

A)

74,496,946‌

136,637

(a),(b)

DISH

Network

Corp

(Class

A)

669,521‌

122,099

Electronic

Arts,

Inc

15,114,635‌

116,796

Fox

Corp

(Class

A)

3,549,431‌

62,899

Fox

Corp

(Class

B)

1,755,511‌

32,638

(a)

IAC,

Inc

1,388,747‌

168,346

Interpublic

Group

of

Cos,

Inc

4,781,026‌

39,908

(a)

Liberty

Broadband

Corp

3,324,736‌

4,845

(a)

Liberty

Broadband

Corp

(Class

A)

403,685‌

11,446

(a)

Liberty

Media

Corp-Liberty

Formula

One

658,717‌

83,812

(a)

Liberty

Media

Corp-Liberty

Formula

One

5,421,798‌

8,510

(a)

Liberty

Media

Corp-Liberty

Live

265,852‌

20,174

(a)

Liberty

Media

Corp-Liberty

Live

642,945‌

32,084

(a)

Liberty

Media

Corp-Liberty

SiriusXM

785,737‌

66,350

(a)

Liberty

Media

Corp-Liberty

SiriusXM

1,628,893‌

52,346

(a)

Live

Nation,

Inc

4,188,727‌

8,031

(a)

Madison

Square

Garden

Sports

Corp

1,350,332‌

12,546

(a)

Match

Group,

Inc

434,092‌

75,811

New

York

Times

Co

(Class

A)

3,055,941‌

165,054

News

Corp

(Class

A)

3,413,317‌

52,800

News

Corp

(Class

B)

1,132,032‌

9,713

Nexstar

Media

Group,

Inc

1,360,597‌

85,279

Omnicom

Group,

Inc

6,388,250‌

895

Paramount

Global

(Class

A)

12,441‌

248,049

Paramount

Global

(Class

B)

2,698,773‌

46,648

(a)

Roku,

Inc

2,778,821‌

273,557

(b)

Sirius

XM

Holdings,

Inc

1,170,824‌

72,647

(a)

Take-Two

Interactive

Software,

Inc

9,716,536‌

52,789

(a)

TripAdvisor,

Inc

779,166‌

805,228

(a)

Walt

Disney

Co

65,698,553‌

971,730

(a)

Warner

Bros

Discovery,

Inc

9,658,996‌

99

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

65,101

(a)

ZoomInfo

Technologies,

Inc

$

843,709‌

TOTAL

MEDIA

&

ENTERTAINMENT

230,813,643‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

8

.3

%

23,875

Agilent

Technologies,

Inc

2,467,959‌

10,541

(a)

Alnylam

Pharmaceuticals,

Inc

1,600,124‌

75,825

Amgen,

Inc

19,388,452‌

291,597

(a)

Avantor,

Inc

5,082,536‌

62,990

(a)

Biogen,

Inc

14,962,644‌

74,229

(a)

BioMarin

Pharmaceutical,

Inc

6,045,952‌

9,159

(a)

Bio-Rad

Laboratories,

Inc

(Class

A)

2,521,289‌

3,833

Bio-Techne

Corp

209,397‌

929,423

Bristol-Myers

Squibb

Co

47,893,167‌

32,193

(a)

Brooks

Automation,

Inc

1,463,172‌

77,715

(a)

Catalent,

Inc

2,672,619‌

21,931

(a)

Charles

River

Laboratories

International,

Inc

3,692,303‌

289,817

Danaher

Corp

55,650,660‌

219,064

(a)

Elanco

Animal

Health,

Inc

1,929,954‌

50,386

(a)

Exact

Sciences

Corp

3,103,274‌

36,303

(a)

Exelixis,

Inc

747,479‌

38,242

(a)

Fortrea

Holdings,

Inc

1,086,073‌

550,013

Gilead

Sciences,

Inc

43,198,021‌

30,972

(a)

ICON

plc

7,555,929‌

49,383

(a)

Illumina,

Inc

5,403,488‌

20,871

(a)

Incyte

Corp

1,125,573‌

9,564

(a)

Ionis

Pharmaceuticals,

Inc

423,398‌

5,819

(a)

IQVIA

Holdings,

Inc

1,052,250‌

12,714

(a)

Jazz

Pharmaceuticals

plc

1,614,932‌

1,062,707

Johnson

&

Johnson

157,641,956‌

1,629

(a)

Karuna

Therapeutics,

Inc

271,408‌

19,978

(a)

Maravai

LifeSciences

Holdings,

Inc

137,049‌

914,944

Merck

&

Co,

Inc

93,964,749‌

25,690

(a)

Mirati

Therapeutics,

Inc

1,426,566‌

147,036

(a)

Moderna,

Inc

11,168,854‌

108,299

Organon

&

Co

1,601,742‌

55,803

PerkinElmer,

Inc

4,623,278‌

57,937

Perrigo

Co

plc

1,601,379‌

2,487,770

Pfizer,

Inc

76,026,251‌

100,669

(a)

QIAGEN

NV

3,768,041‌

42,740

(a)

Regeneron

Pharmaceuticals,

Inc

33,332,499‌

13,387

(a)

Repligen

Corp

1,801,355‌

23,076

(a)

Roivant

Sciences

Ltd

199,377‌

162,211

Royalty

Pharma

plc

4,358,609‌

12,671

(a)

Sotera

Health

Co

160,415‌

65,200

Thermo

Fisher

Scientific,

Inc

28,999,004‌

20,109

(a)

United

Therapeutics

Corp

4,481,492‌

10,068

(a)

Vertex

Pharmaceuticals,

Inc

3,645,723‌

534,424

Viatris,

Inc

4,756,374‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

664,856,766‌

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0

.2

%

136,390

(a)

CBRE

Group,

Inc

9,457,283‌

20,990

(a)

Jones

Lang

LaSalle,

Inc

2,685,041‌

23,759

(a)

Zillow

Group,

Inc

(Class

A)

844,157‌

69,000

(a)

Zillow

Group,

Inc

(Class

C)

2,501,250‌

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

15,487,731‌

RETAILING

-

0

.2

%

70,097

Lowe's

Cos,

Inc

13,358,385‌

TOTAL

RETAILING

13,358,385‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

3

.5

%

304,133

(a)

Advanced

Micro

Devices,

Inc

29,957,100‌

Large-Cap

Value

Index

Fund

October

31,

2023

100

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

223,216

Analog

Devices,

Inc

$

35,118,573‌

57,971

Applied

Materials,

Inc

7,672,462‌

23,850

(a)

Cirrus

Logic,

Inc

1,596,281‌

61,179

Entegris,

Inc

5,386,199‌

47,028

(a)

First

Solar,

Inc

6,699,139‌

33,890

(a),(b)

GLOBALFOUNDRIES,

Inc

1,681,622‌

1,838,549

Intel

Corp

67,107,039‌

3,076

Lam

Research

Corp

1,809,365‌

373,797

Marvell

Technology,

Inc

17,650,694‌

66,737

Microchip

Technology,

Inc

4,757,681‌

481,259

Micron

Technology,

Inc

32,181,789‌

31,444

MKS

Instruments,

Inc

2,064,613‌

188,563

(a)

ON

Semiconductor

Corp

11,811,586‌

43,786

(a)

Qorvo,

Inc

3,827,772‌

64,096

QUALCOMM,

Inc

6,985,823‌

70,530

Skyworks

Solutions,

Inc

6,117,772‌

11,249

Teradyne,

Inc

936,704‌

237,360

Texas

Instruments,

Inc

33,707,494‌

11,062

Universal

Display

Corp

1,539,609‌

55,969

(a)

Wolfspeed,

Inc

1,893,991‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

280,503,308‌

SOFTWARE

&

SERVICES

-

2

.9

%

66,504

(a)

Akamai

Technologies,

Inc

6,871,858‌

52,369

Amdocs

Ltd

4,197,899‌

6,566

(a)

Ansys,

Inc

1,827,055‌

73,132

(a)

AppLovin

Corp

2,664,930‌

12,056

(a)

Aspentech

Corp

2,142,954‌

6,061

Bentley

Systems,

Inc

294,807‌

44,668

(a)

BILL

Holdings,

Inc

4,077,742‌

109,770

(a)

CCC

Intelligent

Solutions

Holdings,

Inc

1,182,223‌

58,254

(a)

Ceridian

HCM

Holding,

Inc

3,728,839‌

222,698

Cognizant

Technology

Solutions

Corp

(Class

A)

14,357,340‌

25,390

Dolby

Laboratories,

Inc

(Class

A)

2,055,067‌

15,720

(a)

Dropbox,

Inc

413,436‌

100,345

(a)

DXC

Technology

Co

2,023,959‌

202,050

Gen

Digital,

Inc

3,366,153‌

26,252

(a)

GoDaddy,

Inc

1,922,434‌

35,814

(a)

Guidewire

Software,

Inc

3,227,916‌

12,678

(a)

HashiCorp,

Inc

249,630‌

15,255

(a)

Informatica,

Inc

292,591‌

399,957

International

Business

Machines

Corp

57,849,781‌

106,413

(a)

Kyndryl

Holdings,

Inc

1,556,822‌

27,456

(a)

nCino

OpCo,

Inc

771,514‌

60,343

(a)

NCR

Corp

922,644‌

30,171

(a)

NCR

Corp

ATM

665,572‌

75,136

(a)

Nutanix,

Inc

2,719,172‌

61,571

(a)

Okta,

Inc

4,150,501‌

394,788

Oracle

Corp

40,821,079‌

12,937

(a),(b)

Paycor

HCM,

Inc

279,180‌

24,226

(a)

PTC,

Inc

3,401,815‌

46,654

Roper

Industries,

Inc

22,793,745‌

102,790

(a)

Salesforce,

Inc

20,643,316‌

87,769

(a)

SentinelOne,

Inc

1,371,829‌

61,085

(a)

Twilio,

Inc

3,131,217‌

4,389

(a)

Tyler

Technologies,

Inc

1,636,658‌

37,819

(a)

UiPath,

Inc

587,329‌

75,263

(a)

Unity

Software,

Inc

1,909,422‌

38,179

(a)

VeriSign,

Inc

7,622,819‌

110,560

(a)

Zoom

Video

Communications,

Inc

6,631,389‌

TOTAL

SOFTWARE

&

SERVICES

234,362,637‌

101

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

2

.5

%

127,671

Amphenol

Corp

(Class

A)

$

10,283,899‌

24,940

(a)

Arrow

Electronics,

Inc

2,828,445‌

40,868

Avnet,

Inc

1,893,414‌

3,389

CDW

Corp

679,156‌

62,624

(a)

Ciena

Corp

2,642,733‌

1,809,497

Cisco

Systems,

Inc

94,329,079‌

74,637

Cognex

Corp

2,686,186‌

51,494

(a)

Coherent

Corp

1,524,222‌

336,990

Corning,

Inc

9,017,852‌

27,367

(a)

F5

Networks,

Inc

4,148,564‌

570,126

Hewlett

Packard

Enterprise

Co

8,768,538‌

303,879

HP,

Inc

8,001,134‌

12,912

(a)

IPG

Photonics

Corp

1,109,141‌

20,789

Jabil

Inc

2,552,889‌

139,286

Juniper

Networks,

Inc

3,749,579‌

57,069

(a)

Keysight

Technologies,

Inc

6,965,271‌

10,984

Littelfuse,

Inc

2,379,903‌

29,442

(a)

Lumentum

Holdings,

Inc

1,154,421‌

6,635

Motorola

Solutions,

Inc

1,847,582‌

55,645

NetApp,

Inc

4,049,843‌

26,492

(a)

Pure

Storage,

Inc

895,695‌

17,957

SYNNEX

Corp

1,646,298‌

20,140

(a)

Teledyne

Technologies,

Inc

7,544,243‌

105,181

(a)

Trimble

Inc

4,957,181‌

1,001

Ubiquiti,

Inc

121,571‌

51,477

(a)

Viasat,

Inc

949,236‌

44,511

Vontier

Corp

1,315,745‌

140,623

(a)

Western

Digital

Corp

5,646,013‌

18,139

(a)

Zebra

Technologies

Corp

(Class

A)

3,798,851‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

197,486,684‌

TELECOMMUNICATION

SERVICES

-

1

.9

%

3,155,570

AT&T,

Inc

48,595,778‌

106,467

(a)

Frontier

Communications

Parent,

Inc

1,907,889‌

43,240

(a),(c)

GCI

Liberty,

Inc

432‌

3,449

Iridium

Communications,

Inc

127,785‌

236,572

(a)

T-Mobile

US,

Inc

34,033,248‌

1,851,050

Verizon

Communications,

Inc

65,027,387‌

TOTAL

TELECOMMUNICATION

SERVICES

149,692,519‌

TRANSPORTATION

-

2

.4

%

53,321

(a)

Alaska

Air

Group,

Inc

1,686,543‌

3,876

(a),(b)

Amerco,

Inc

190,389‌

187,832

(a)

American

Airlines

Group,

Inc

2,094,327‌

5,792

(a)

Avis

Budget

Group,

Inc

942,938‌

10,978

CH

Robinson

Worldwide,

Inc

898,330‌

785,232

CSX

Corp

23,439,175‌

263,257

Delta

Air

Lines,

Inc

8,226,781‌

59,570

Expeditors

International

Washington,

Inc

6,508,023‌

102,083

FedEx

Corp

24,510,128‌

50,557

(a)

GXO

Logistics,

Inc

2,553,634‌

58,092

(a)

Hertz

Global

Holdings,

Inc

489,716‌

28,566

JB

Hunt

Transport

Services,

Inc

4,909,638‌

26,015

(a)

Kirby

Corp

1,943,321‌

69,889

Knight-Swift

Transportation

Holdings,

Inc

3,416,873‌

3,151

Landstar

System,

Inc

519,222‌

99,136

Norfolk

Southern

Corp

18,914,157‌

2,943

Old

Dominion

Freight

Line

1,108,510‌

21,270

Ryder

System,

Inc

2,074,676‌

10,213

(a)

Saia,

Inc

3,661,258‌

21,540

Schneider

National,

Inc

545,608‌

263,752

Southwest

Airlines

Co

5,863,207‌

27,217

U-Haul

Holding

Co

1,284,915‌

Large-Cap

Value

Index

Fund

October

31,

2023

102

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TRANSPORTATION—continued

153,342

Union

Pacific

Corp

$

31,835,333‌

146,445

(a)

United

Airlines

Holdings,

Inc

5,127,039‌

231,227

United

Parcel

Service,

Inc

(Class

B)

32,660,814‌

49,216

(a)

XPO,

Inc

3,731,065‌

TOTAL

TRANSPORTATION

189,135,620‌

UTILITIES

-

5

.1

%

127,037

AES

Corp

1,892,851‌

110,517

Alliant

Energy

Corp

5,392,124‌

116,931

Ameren

Corp

8,852,846‌

225,111

American

Electric

Power

Co,

Inc

17,004,885‌

85,517

American

Water

Works

Co,

Inc

10,061,075‌

64,074

Atmos

Energy

Corp

6,898,207‌

30,989

Avangrid,

Inc

925,641‌

55,506

Brookfield

Renewable

Corp

1,263,317‌

281,783

Centerpoint

Energy,

Inc

7,574,327‌

14,977

Clearway

Energy,

Inc

(Class

A)

305,082‌

35,390

Clearway

Energy,

Inc

(Class

C)

768,317‌

126,401

CMS

Energy

Corp

6,868,630‌

155,064

Consolidated

Edison,

Inc

13,613,069‌

145,906

Constellation

Energy

Corp

16,475,706‌

365,291

Dominion

Energy,

Inc

14,728,533‌

91,527

DTE

Energy

Co

8,821,372‌

338,509

Duke

Energy

Corp

30,090,065‌

166,662

Edison

International

10,509,706‌

91,496

Entergy

Corp

8,746,103‌

105,233

Essential

Utilities,

Inc

3,521,096‌

96,240

Evergy,

Inc

4,729,234‌

150,591

Eversource

Energy

8,100,290‌

441,047

Exelon

Corp

17,174,370‌

242,558

FirstEnergy

Corp

8,635,065‌

24,286

(b)

Hawaiian

Electric

Industries,

Inc

315,232‌

22,747

Idacorp,

Inc

2,154,368‌

39,220

National

Fuel

Gas

Co

1,998,259‌

890,964

NextEra

Energy,

Inc

51,943,201‌

185,895

NiSource,

Inc

4,677,118‌

106,956

NRG

Energy,

Inc

4,532,795‌

91,965

OGE

Energy

Corp

3,145,203‌

880,077

(a)

PG&E

Corp

14,345,255‌

50,089

Pinnacle

West

Capital

Corp

3,715,602‌

328,786

PPL

Corp

8,078,272‌

218,208

Public

Service

Enterprise

Group,

Inc

13,452,523‌

278,761

Sempra

Energy

19,521,633‌

481,993

Southern

Co

32,438,129‌

90,502

UGI

Corp

1,882,442‌

122,558

Vistra

Corp

4,010,098‌

138,695

WEC

Energy

Group,

Inc

11,288,386‌

240,426

Xcel

Energy,

Inc

14,250,049‌

TOTAL

UTILITIES

404,700,476‌

TOTAL

COMMON

STOCKS

7,974,797,987‌

(Cost

$6,503,828,958)

TOTAL

LONG-TERM

INVESTMENTS

7,974,797,987‌

(Cost

$6,503,828,958)

103

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

0.1%

REPURCHASE

AGREEMENT

-

0

.1

%

$

4,421,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

%

11/01/23

$

4,421,000‌

TOTAL

REPURCHASE

AGREEMENT

4,421,000‌

TOTAL

SHORT-TERM

INVESTMENTS

4,421,000‌

(Cost

$4,421,000)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.2%

16,648,028

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

16,648,028‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

16,648,028‌

(Cost

$16,648,028)

TOTAL

INVESTMENTS

-

100.2%

7,995,867,015‌

(Cost

$6,524,897,986)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.2)%

(

12,413,713‌

)

NET

ASSETS

-

100.0%

$

7,983,453,302‌

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$27,218,903.

(c)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$4,421,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$4,509,539.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

S&P

500

Index

Fund

October

31,

2023

Portfolios

of

Investments

104

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.3%

COMMON

STOCKS

-

99.3%

AUTOMOBILES

&

COMPONENTS

-

1

.9

%

59,088

(a)

Aptiv

plc

$

5,152,474‌

51,799

BorgWarner,

Inc

1,911,383‌

875,106

Ford

Motor

Co

8,532,283‌

310,680

General

Motors

Co

8,761,176‌

611,900

(a)

Tesla,

Inc

122,893,996‌

TOTAL

AUTOMOBILES

&

COMPONENTS

147,251,312‌

BANKS

-

2

.9

%

1,539,822

Bank

of

America

Corp

40,558,911‌

427,009

Citigroup,

Inc

16,862,585‌

102,731

Citizens

Financial

Group,

Inc

2,406,987‌

27,800

Comerica,

Inc

1,095,320‌

153,006

Fifth

Third

Bancorp

3,627,772‌

309,423

Huntington

Bancshares,

Inc

2,985,932‌

644,108

JPMorgan

Chase

&

Co

89,569,658‌

213,449

Keycorp

2,181,449‌

36,646

M&T

Bank

Corp

4,131,837‌

87,557

PNC

Financial

Services

Group,

Inc

10,022,650‌

198,854

Regions

Financial

Corp

2,889,349‌

293,505

Truist

Financial

Corp

8,323,802‌

344,667

US

Bancorp

10,987,984‌

810,562

Wells

Fargo

&

Co

32,236,051‌

32,843

Zions

Bancorporation

1,013,207‌

TOTAL

BANKS

228,893,494‌

CAPITAL

GOODS

-

5

.5

%

124,134

3M

Co

11,289,987‌

28,637

A.O.

Smith

Corp

1,997,717‌

19,899

Allegion

plc

1,957,266‌

50,728

Ametek,

Inc

7,140,981‌

15,870

(a)

Axon

Enterprise,

Inc

3,245,256‌

124,927

(a)

Boeing

Co

23,338,862‌

184,111

Carrier

Global

Corp

8,774,730‌

113,736

Caterpillar,

Inc

25,710,023‌

31,214

Cummins,

Inc

6,751,588‌

59,840

Deere

&

Co

21,863,142‌

30,438

Dover

Corp

3,955,418‌

88,433

Eaton

Corp

plc

18,386,105‌

124,845

Emerson

Electric

Co

11,107,460‌

128,803

Fastenal

Co

7,514,367‌

79,580

Fortive

Corp

5,194,982‌

13,670

(a)

Generac

Holdings,

Inc

1,149,237‌

49,941

General

Dynamics

Corp

12,051,263‌

240,913

General

Electric

Co

26,170,379‌

147,533

Honeywell

International,

Inc

27,036,898‌

80,166

Howmet

Aerospace,

Inc

3,535,321‌

11,885

Hubbell,

Inc

3,210,138‌

9,069

Huntington

Ingalls

Industries,

Inc

1,993,548‌

17,146

IDEX

Corp

3,281,916‌

60,600

Illinois

Tool

Works,

Inc

13,581,672‌

90,129

Ingersoll

Rand,

Inc

5,469,028‌

150,771

Johnson

Controls

International

plc

7,390,794‌

42,526

L3Harris

Technologies,

Inc

7,629,590‌

49,666

Lockheed

Martin

Corp

22,580,150‌

50,006

Masco

Corp

2,604,813‌

105

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

11,898

Nordson

Corp

$

2,529,396‌

31,399

Northrop

Grumman

Corp

14,802,431‌

91,987

Otis

Worldwide

Corp

7,102,316‌

115,979

PACCAR,

Inc

9,571,747‌

27,954

Parker-Hannifin

Corp

10,312,510‌

38,114

Pentair

plc

2,215,186‌

32,580

Quanta

Services,

Inc

5,444,770‌

25,620

Rockwell

Automation,

Inc

6,733,192‌

324,201

RTX

Corp

26,386,719‌

11,731

Snap-On,

Inc

3,025,894‌

33,121

Stanley

Black

&

Decker,

Inc

2,816,941‌

46,843

Textron,

Inc

3,560,068‌

49,979

Trane

Technologies

plc

9,511,503‌

12,246

(a)

TransDigm

Group,

Inc

10,140,790‌

15,122

United

Rentals,

Inc

6,143,615‌

9,948

W.W.

Grainger,

Inc

7,260,349‌

41,091

Westinghouse

Air

Brake

Technologies

Corp

4,356,468‌

53,036

Xylem,

Inc

4,960,987‌

TOTAL

CAPITAL

GOODS

432,787,513‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1

.3

%

91,711

Automatic

Data

Processing,

Inc

20,013,175‌

25,418

Broadridge

Financial

Solutions,

Inc

4,337,328‌

19,372

Cintas

Corp

9,823,929‌

193,118

(a)

Copart,

Inc

8,404,495‌

89,164

(a)

CoStar

Group,

Inc

6,545,529‌

26,695

Equifax,

Inc

4,526,671‌

28,711

Jacobs

Solutions,

Inc

3,827,176‌

30,819

Leidos

Holdings,

Inc

3,054,779‌

69,997

Paychex,

Inc

7,773,167‌

44,895

Republic

Services,

Inc

6,666,459‌

25,656

Robert

Half

International,

Inc

1,918,299‌

62,217

Rollins,

Inc

2,339,981‌

48,875

(a)

Veralto

Corp

3,372,375‌

31,926

Verisk

Analytics,

Inc

7,258,695‌

82,496

Waste

Management,

Inc

13,556,568‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

103,418,626‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

1

.1

%

4,028

(a)

Autozone,

Inc

9,977,880‌

48,105

Bath

&

Body

Works,

Inc

1,426,313‌

43,444

Best

Buy

Co,

Inc

2,902,928‌

36,270

(a)

Carmax,

Inc

2,215,734‌

117,040

eBay,

Inc

4,591,479‌

26,973

(a)

Etsy,

Inc

1,680,418‌

30,791

Genuine

Parts

Co

3,967,728‌

57,527

LKQ

Corp

2,526,586‌

13,589

(a)

O'Reilly

Automotive,

Inc

12,643,749‌

8,403

Pool

Corp

2,653,415‌

75,177

Ross

Stores,

Inc

8,718,277‌

255,505

TJX

Cos,

Inc

22,502,326‌

24,060

Tractor

Supply

Co

4,632,994‌

10,935

(a)

Ulta

Beauty,

Inc

4,169,625‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

84,609,452‌

CONSUMER

DURABLES

&

APPAREL

-

0

.9

%

67,998

DR

Horton,

Inc

7,098,991‌

32,790

(a)

Garmin

Ltd

3,361,959‌

29,707

Hasbro,

Inc

1,341,271‌

56,324

Lennar

Corp

(Class

A)

6,008,644‌

25,623

(a)

Lululemon

Athletica,

Inc

10,082,138‌

13,652

(a)

Mohawk

Industries,

Inc

1,097,348‌

272,313

Nike,

Inc

(Class

B)

27,985,607‌

S&P

500

Index

Fund

October

31,

2023

106

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

679

(a)

NVR,

Inc

$

3,675,169‌

49,512

Pulte

Homes,

Inc

3,643,588‌

8,795

Ralph

Lauren

Corp

989,701‌

51,312

Tapestry,

Inc

1,414,159‌

71,620

VF

Corp

1,054,963‌

12,855

Whirlpool

Corp

1,344,119‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

69,097,657‌

CONSUMER

SERVICES

-

2

.1

%

94,539

(a)

Airbnb,

Inc

11,183,018‌

7,910

(a)

Booking

Holdings,

Inc

22,065,420‌

46,216

(a)

Caesars

Entertainment,

Inc

1,843,556‌

216,844

(a)

Carnival

Corp

2,485,032‌

6,182

(a)

Chipotle

Mexican

Grill,

Inc

(Class

A)

12,006,680‌

26,368

Darden

Restaurants,

Inc

3,837,335‌

8,125

Domino's

Pizza,

Inc

2,754,294‌

31,467

(a)

Expedia

Group,

Inc

2,998,491‌

58,107

Hilton

Worldwide

Holdings,

Inc

8,804,954‌

74,889

Las

Vegas

Sands

Corp

3,554,232‌

57,186

Marriott

International,

Inc

(Class

A)

10,782,992‌

161,339

McDonald's

Corp

42,298,246‌

60,074

MGM

Resorts

International

2,097,784‌

94,992

(a),(b)

Norwegian

Cruise

Line

Holdings

Ltd

1,291,891‌

52,362

(a)

Royal

Caribbean

Cruises

Ltd

4,436,632‌

254,070

Starbucks

Corp

23,435,417‌

19,644

Wynn

Resorts

Ltd

1,724,350‌

60,622

Yum!

Brands,

Inc

7,326,775‌

TOTAL

CONSUMER

SERVICES

164,927,099‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

1

.9

%

98,156

Costco

Wholesale

Corp

54,225,301‌

47,277

Dollar

General

Corp

5,627,854‌

47,073

(a)

Dollar

Tree,

Inc

5,229,339‌

146,972

Kroger

Co

6,668,120‌

112,534

Sysco

Corp

7,482,386‌

102,491

Target

Corp

11,354,978‌

150,031

Walgreens

Boots

Alliance,

Inc

3,162,653‌

316,384

Walmart,

Inc

51,700,309‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

145,450,940‌

ENERGY

-

4

.5

%

68,484

APA

Corp

2,720,184‌

224,463

Baker

Hughes

Co

7,726,016‌

168,148

Cabot

Oil

&

Gas

Corp

4,624,070‌

393,100

Chevron

Corp

57,286,463‌

264,992

ConocoPhillips

31,481,050‌

139,059

Devon

Energy

Corp

6,475,978‌

39,520

Diamondback

Energy,

Inc

6,335,846‌

128,211

EOG

Resources,

Inc

16,186,639‌

82,413

EQT

Corp

3,492,663‌

887,047

Exxon

Mobil

Corp

93,893,925‌

191,869

Halliburton

Co

7,548,126‌

61,354

Hess

Corp

8,859,518‌

420,254

Kinder

Morgan,

Inc

6,808,115‌

131,312

Marathon

Oil

Corp

3,586,131‌

88,812

Marathon

Petroleum

Corp

13,432,815‌

147,059

Occidental

Petroleum

Corp

9,089,717‌

129,080

ONEOK,

Inc

8,416,016‌

98,735

Phillips

66

11,262,701‌

51,887

Pioneer

Natural

Resources

Co

12,400,993‌

316,538

Schlumberger

Ltd

17,618,505‌

50,130

Targa

Resources

Corp

4,191,369‌

79,841

Valero

Energy

Corp

10,139,807‌

107

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

270,622

Williams

Cos,

Inc

$

9,309,397‌

TOTAL

ENERGY

352,886,044‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2

.2

%

35,211

Alexandria

Real

Estate

Equities,

Inc

3,279,200‌

103,324

American

Tower

Corp

18,411,304‌

31,293

AvalonBay

Communities,

Inc

5,186,502‌

34,344

Boston

Properties,

Inc

1,839,808‌

24,190

Camden

Property

Trust

2,053,247‌

96,617

Crown

Castle,

Inc

8,983,449‌

64,137

Digital

Realty

Trust,

Inc

7,976,077‌

20,612

Equinix,

Inc

15,039,340‌

74,179

Equity

Residential

4,104,324‌

14,754

Essex

Property

Trust,

Inc

3,156,176‌

46,940

Extra

Space

Storage,

Inc

4,862,515‌

16,879

Federal

Realty

Investment

Trust

1,539,196‌

129,550

Healthpeak

Properties,

Inc

2,014,503‌

163,337

Host

Marriott

Corp

2,528,457‌

128,031

Invitation

Homes,

Inc

3,801,240‌

62,705

Iron

Mountain,

Inc

3,703,984‌

141,829

Kimco

Realty

Corp

2,544,412‌

25,462

Mid-America

Apartment

Communities,

Inc

3,008,335‌

204,116

(c)

Prologis,

Inc

20,564,687‌

34,896

Public

Storage,

Inc

8,330,024‌

156,948

Realty

Income

Corp

7,436,196‌

36,965

Regency

Centers

Corp

2,227,511‌

24,101

SBA

Communications

Corp

5,028,192‌

71,080

Simon

Property

Group,

Inc

7,810,981‌

72,506

UDR,

Inc

2,306,416‌

87,565

Ventas,

Inc

3,718,010‌

219,506

VICI

Properties,

Inc

6,124,217‌

114,906

Welltower,

Inc

9,607,291‌

157,260

Weyerhaeuser

Co

4,511,789‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

171,697,383‌

FINANCIAL

SERVICES

-

7

.5

%

128,894

American

Express

Co

18,822,391‌

23,241

Ameriprise

Financial,

Inc

7,310,921‌

171,884

Bank

of

New

York

Mellon

Corp

7,305,070‌

404,234

(a)

Berkshire

Hathaway,

Inc

137,977,191‌

31,149

BlackRock,

Inc

19,071,910‌

157,365

Blackstone,

Inc

14,532,658‌

85,394

Capital

One

Financial

Corp

8,649,558‌

22,860

Cboe

Global

Markets,

Inc

3,746,526‌

329,105

Charles

Schwab

Corp

17,126,624‌

79,768

CME

Group,

Inc

17,027,277‌

54,373

Discover

Financial

Services

4,462,936‌

8,634

Factset

Research

Systems,

Inc

3,728,938‌

130,383

Fidelity

National

Information

Services,

Inc

6,403,109‌

136,785

(a)

Fiserv,

Inc

15,559,294‌

15,947

(a)

FleetCor

Technologies,

Inc

3,590,786‌

64,273

Franklin

Resources,

Inc

1,464,782‌

57,098

Global

Payments,

Inc

6,064,950‌

73,933

Goldman

Sachs

Group,

Inc

22,446,798‌

124,230

Intercontinental

Exchange,

Inc

13,347,271‌

106,739

Invesco

Ltd

1,384,405‌

15,929

Jack

Henry

&

Associates,

Inc

2,245,830‌

8,144

MarketAxess

Holdings,

Inc

1,740,780‌

184,406

Mastercard,

Inc

(Class

A)

69,401,198‌

35,153

Moody's

Corp

10,827,124‌

282,824

Morgan

Stanley

20,029,596‌

17,647

MSCI,

Inc

(Class

A)

8,321,443‌

75,652

Nasdaq

Stock

Market,

Inc

3,752,339‌

S&P

500

Index

Fund

October

31,

2023

108

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

43,685

Northern

Trust

Corp

$

2,879,278‌

246,630

(a)

PayPal

Holdings,

Inc

12,775,434‌

40,771

Raymond

James

Financial,

Inc

3,891,184‌

72,714

S&P

Global,

Inc

25,399,727‌

70,480

State

Street

Corp

4,555,122‌

92,701

Synchrony

Financial

2,600,263‌

50,394

T

Rowe

Price

Group,

Inc

4,560,657‌

356,155

Visa,

Inc

(Class

A)

83,732,041‌

TOTAL

FINANCIAL

SERVICES

586,735,411‌

FOOD,

BEVERAGE

&

TOBACCO

-

3

.1

%

396,693

Altria

Group,

Inc

15,935,158‌

120,071

Archer-Daniels-Midland

Co

8,593,481‌

39,727

Brown-Forman

Corp

(Class

B)

2,231,068‌

31,481

Bunge

Ltd

3,336,356‌

39,681

Campbell

Soup

Co

1,603,509‌

861,700

Coca-Cola

Co

48,677,433‌

99,851

ConAgra

Brands,

Inc

2,731,923‌

35,386

Constellation

Brands,

Inc

(Class

A)

8,285,632‌

132,163

General

Mills,

Inc

8,622,314‌

33,037

Hershey

Co

6,189,482‌

62,770

Hormel

Foods

Corp

2,043,163‌

24,299

J.M.

Smucker

Co

2,766,198‌

57,722

Kellogg

Co

2,913,229‌

223,369

Keurig

Dr

Pepper,

Inc

6,774,782‌

177,599

Kraft

Heinz

Co

5,587,265‌

32,426

Lamb

Weston

Holdings,

Inc

2,911,855‌

55,713

McCormick

&

Co,

Inc

3,560,061‌

42,674

Molson

Coors

Brewing

Co

(Class

B)

2,465,277‌

301,750

Mondelez

International,

Inc

19,978,868‌

164,789

(a)

Monster

Beverage

Corp

8,420,718‌

305,142

PepsiCo,

Inc

49,823,586‌

344,400

Philip

Morris

International,

Inc

30,706,704‌

62,765

Tyson

Foods,

Inc

(Class

A)

2,909,158‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

247,067,220‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

5

.6

%

386,206

Abbott

Laboratories

36,515,777‌

15,487

(a)

Align

Technology,

Inc

2,858,745‌

35,353

AmerisourceBergen

Corp

6,545,608‌

114,353

Baxter

International,

Inc

3,708,468‌

63,141

Becton

Dickinson

&

Co

15,960,782‌

319,005

(a)

Boston

Scientific

Corp

16,329,866‌

57,503

Cardinal

Health,

Inc

5,232,773‌

118,697

(a)

Centene

Corp

8,187,719‌

65,172

Cigna

Group

20,151,182‌

10,612

Cooper

Cos,

Inc

3,308,291‌

284,104

CVS

Health

Corp

19,606,017‌

11,100

(a)

DaVita,

Inc

857,253‌

44,319

Dentsply

Sirona,

Inc

1,347,741‌

86,526

(a)

DexCom,

Inc

7,686,105‌

135,072

(a)

Edwards

Lifesciences

Corp

8,606,788‌

52,730

Elevance

Health,

Inc

23,733,246‌

86,290

GE

HealthCare

Technologies,

Inc

5,744,325‌

44,572

HCA,

Inc

10,079,512‌

30,612

(a)

Henry

Schein,

Inc

1,989,168‌

56,207

(a)

Hologic,

Inc

3,719,217‌

27,341

Humana,

Inc

14,318,208‌

18,549

(a)

IDEXX

Laboratories,

Inc

7,409,769‌

15,427

(a)

Insulet

Corp

2,045,157‌

77,378

(a)

Intuitive

Surgical,

Inc

20,290,059‌

19,712

Laboratory

Corp

of

America

Holdings

3,937,078‌

30,049

McKesson

Corp

13,683,113‌

109

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

294,958

Medtronic

plc

$

20,812,237‌

13,314

(a)

Molina

Healthcare,

Inc

4,432,896‌

24,563

Quest

Diagnostics,

Inc

3,195,646‌

33,104

Resmed,

Inc

4,674,947‌

21,734

STERIS

plc

4,563,705‌

74,684

Stryker

Corp

20,181,111‌

10,927

Teleflex,

Inc

2,018,763‌

205,221

UnitedHealth

Group,

Inc

109,908,159‌

14,306

Universal

Health

Services,

Inc

(Class

B)

1,800,982‌

45,221

Zimmer

Biomet

Holdings,

Inc

4,721,525‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

440,161,938‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.6

%

54,380

Church

&

Dwight

Co,

Inc

4,945,317‌

27,624

Clorox

Co

3,251,345‌

182,414

Colgate-Palmolive

Co

13,702,940‌

50,581

Estee

Lauder

Cos

(Class

A)

6,518,373‌

383,094

Kenvue,

Inc

7,125,548‌

75,090

Kimberly-Clark

Corp

8,983,768‌

522,335

Procter

&

Gamble

Co

78,365,920‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

122,893,211‌

INSURANCE

-

2

.3

%

122,812

Aflac,

Inc

9,592,845‌

58,429

Allstate

Corp

7,486,508‌

157,147

American

International

Group,

Inc

9,634,683‌

45,611

Aon

plc

14,112,044‌

83,043

(a)

Arch

Capital

Group

Ltd

7,198,167‌

12,019

Assurant,

Inc

1,789,629‌

51,220

Brown

&

Brown,

Inc

3,555,692‌

90,736

Chubb

Ltd

19,473,760‌

35,539

Cincinnati

Financial

Corp

3,542,172‌

9,817

Everest

Re

Group

Ltd

3,883,802‌

47,673

Gallagher

(Arthur

J.)

&

Co

11,226,515‌

19,832

Globe

Life,

Inc

2,307,652‌

66,665

Hartford

Financial

Services

Group,

Inc

4,896,544‌

39,570

Loews

Corp

2,532,876‌

109,880

Marsh

&

McLennan

Cos,

Inc

20,838,742‌

140,382

Metlife,

Inc

8,424,324‌

47,299

Principal

Financial

Group

3,201,196‌

130,145

Progressive

Corp

20,574,623‌

80,032

Prudential

Financial,

Inc

7,318,126‌

51,223

Travelers

Cos,

Inc

8,576,779‌

43,217

W.R.

Berkley

Corp

2,913,690‌

23,406

Willis

Towers

Watson

plc

5,521,241‌

TOTAL

INSURANCE

178,601,610‌

MATERIALS

-

2

.4

%

49,274

Air

Products

&

Chemicals,

Inc

13,916,949‌

25,602

Albemarle

Corp

3,245,822‌

333,775

Amcor

plc

2,967,260‌

17,000

Avery

Dennison

Corp

2,959,190‌

69,913

Ball

Corp

3,366,311‌

21,646

Celanese

Corp

(Series

A)

2,478,683‌

44,257

CF

Industries

Holdings,

Inc

3,530,823‌

155,324

Corteva,

Inc

7,477,297‌

156,733

Dow,

Inc

7,576,473‌

99,801

DuPont

de

Nemours,

Inc

7,273,497‌

25,889

Eastman

Chemical

Co

1,934,685‌

54,973

Ecolab,

Inc

9,221,171‌

27,497

FMC

Corp

1,462,840‌

319,792

Freeport-McMoRan,

Inc

(Class

B)

10,802,574‌

56,913

International

Flavors

&

Fragrances,

Inc

3,890,003‌

S&P

500

Index

Fund

October

31,

2023

110

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

76,720

International

Paper

Co

$

2,587,766‌

108,466

Linde

plc

41,451,366‌

56,266

LyondellBasell

Industries

NV

5,077,444‌

13,522

Martin

Marietta

Materials,

Inc

5,529,687‌

76,922

Mosaic

Co

2,498,427‌

174,918

Newmont

Goldcorp

Corp

6,554,177‌

55,500

Nucor

Corp

8,202,345‌

20,979

Packaging

Corp

of

America

3,210,836‌

52,921

PPG

Industries,

Inc

6,497,111‌

30,344

Sealed

Air

Corp

934,292‌

52,460

Sherwin-Williams

Co

12,496,497‌

33,420

Steel

Dynamics,

Inc

3,559,564‌

30,098

Vulcan

Materials

Co

5,913,956‌

61,644

Westrock

Co

2,214,869‌

TOTAL

MATERIALS

188,831,915‌

MEDIA

&

ENTERTAINMENT

-

7

.7

%

1,118,416

(a)

Alphabet,

Inc

140,137,525‌

1,314,214

(a)

Alphabet,

Inc

(Class

A)

163,067,673‌

23,011

(a)

Charter

Communications,

Inc

9,268,831‌

911,544

Comcast

Corp

(Class

A)

37,637,652‌

54,652

Electronic

Arts,

Inc

6,765,371‌

62,265

Fox

Corp

(Class

A)

1,892,233‌

31,481

Fox

Corp

(Class

B)

878,635‌

81,564

Interpublic

Group

of

Cos,

Inc

2,316,418‌

31,405

(a)

Live

Nation,

Inc

2,513,028‌

59,840

(a)

Match

Group,

Inc

2,070,464‌

492,509

(a)

Meta

Platforms,

Inc

148,378,187‌

98,062

(a)

NetFlix,

Inc

40,371,145‌

77,943

News

Corp

(Class

A)

1,611,861‌

23,838

News

Corp

(Class

B)

511,087‌

43,533

Omnicom

Group,

Inc

3,261,057‌

111,755

Paramount

Global

(Class

B)

1,215,894‌

34,816

(a)

Take-Two

Interactive

Software,

Inc

4,656,640‌

405,421

(a)

Walt

Disney

Co

33,078,299‌

486,295

(a)

Warner

Bros

Discovery,

Inc

4,833,772‌

TOTAL

MEDIA

&

ENTERTAINMENT

604,465,772‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

7

.4

%

390,732

AbbVie,

Inc

55,163,544‌

64,545

Agilent

Technologies,

Inc

6,672,017‌

118,028

Amgen,

Inc

30,179,760‌

31,860

(a)

Biogen,

Inc

7,568,024‌

4,633

(a)

Bio-Rad

Laboratories,

Inc

(Class

A)

1,275,372‌

34,200

Bio-Techne

Corp

1,868,346‌

464,660

Bristol-Myers

Squibb

Co

23,943,930‌

39,202

(a)

Catalent,

Inc

1,348,157‌

11,012

(a)

Charles

River

Laboratories

International,

Inc

1,853,980‌

146,625

Danaher

Corp

28,154,932‌

176,723

Eli

Lilly

&

Co

97,892,171‌

276,289

Gilead

Sciences,

Inc

21,699,738‌

35,275

(a)

Illumina,

Inc

3,859,790‌

39,135

(a)

Incyte

Corp

2,110,551‌

41,656

(a)

IQVIA

Holdings,

Inc

7,532,654‌

532,770

Johnson

&

Johnson

79,031,102‌

562,080

Merck

&

Co,

Inc

57,725,616‌

4,929

(a)

Mettler-Toledo

International,

Inc

4,856,051‌

71,770

(a)

Moderna,

Inc

5,451,649‌

29,214

PerkinElmer,

Inc

2,420,380‌

1,254,184

Pfizer,

Inc

38,327,863‌

23,517

(a)

Regeneron

Pharmaceuticals,

Inc

18,340,673‌

85,718

Thermo

Fisher

Scientific,

Inc

38,124,795‌

57,041

(a)

Vertex

Pharmaceuticals,

Inc

20,655,117‌

111

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

265,934

Viatris,

Inc

$

2,366,813‌

12,962

(a)

Waters

Corp

3,091,826‌

16,781

West

Pharmaceutical

Services,

Inc

5,341,224‌

101,758

Zoetis,

Inc

15,976,006‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

582,832,081‌

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0

.1

%

67,224

(a)

CBRE

Group,

Inc

4,661,312‌

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

4,661,312‌

RETAILING

-

4

.5

%

2,011,969

(a)

Amazon.com,

Inc

267,772,954‌

222,882

Home

Depot,

Inc

63,452,277‌

129,755

Lowe's

Cos,

Inc

24,727,410‌

TOTAL

RETAILING

355,952,641‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

7

.1

%

357,179

(a)

Advanced

Micro

Devices,

Inc

35,182,131‌

112,362

Analog

Devices,

Inc

17,677,913‌

188,110

Applied

Materials,

Inc

24,896,359‌

91,465

Broadcom,

Inc

76,955,907‌

30,249

(a)

Enphase

Energy,

Inc

2,407,215‌

21,562

(a)

First

Solar,

Inc

3,071,507‌

928,185

Intel

Corp

33,878,753‌

30,223

KLA

Corp

14,195,743‌

29,588

Lam

Research

Corp

17,404,253‌

119,709

Microchip

Technology,

Inc

8,534,055‌

242,728

Micron

Technology,

Inc

16,231,221‌

10,114

Monolithic

Power

Systems,

Inc

4,467,758‌

547,963

Nvidia

Corp

223,459,311‌

57,849

NXP

Semiconductors

NV

9,974,903‌

94,815

(a)

ON

Semiconductor

Corp

5,939,212‌

21,692

(a)

Qorvo,

Inc

1,896,315‌

245,947

QUALCOMM,

Inc

26,805,764‌

35,393

Skyworks

Solutions,

Inc

3,069,989‌

12,728

(a)

SolarEdge

Technologies,

Inc

966,692‌

35,237

Teradyne,

Inc

2,934,185‌

200,307

Texas

Instruments,

Inc

28,445,597‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

558,394,783‌

SOFTWARE

&

SERVICES

-

12

.0

%

140,238

Accenture

plc

41,663,307‌

101,024

(a)

Adobe,

Inc

53,750,829‌

33,190

(a)

Akamai

Technologies,

Inc

3,429,523‌

19,496

(a)

Ansys,

Inc

5,424,957‌

47,070

(a)

Autodesk,

Inc

9,302,444‌

60,969

(a)

Cadence

Design

Systems,

Inc

14,623,415‌

35,007

(a)

Ceridian

HCM

Holding,

Inc

2,240,798‌

111,089

Cognizant

Technology

Solutions

Corp

(Class

A)

7,161,908‌

12,561

(a)

EPAM

Systems,

Inc

2,732,897‌

5,640

(a)

Fair

Isaac

Corp

4,770,707‌

142,308

(a)

Fortinet,

Inc

8,135,748‌

17,680

(a)

Gartner,

Inc

5,870,467‌

124,511

Gen

Digital,

Inc

2,074,353‌

201,936

International

Business

Machines

Corp

29,208,023‌

62,100

Intuit,

Inc

30,736,395‌

1,647,455

Microsoft

Corp

557,021,010‌

348,785

Oracle

Corp

36,064,369‌

66,674

(a)

Palo

Alto

Networks,

Inc

16,203,116‌

11,107

Paycom

Software,

Inc

2,720,882‌

26,403

(a)

PTC,

Inc

3,707,509‌

23,281

Roper

Industries,

Inc

11,374,398‌

215,862

(a)

Salesforce,

Inc

43,351,566‌

S&P

500

Index

Fund

October

31,

2023

112

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

45,351

(a)

ServiceNow,

Inc

$

26,387,479‌

33,944

(a)

Synopsys,

Inc

15,934,671‌

9,415

(a)

Tyler

Technologies,

Inc

3,510,854‌

20,903

(a)

VeriSign,

Inc

4,173,493‌

TOTAL

SOFTWARE

&

SERVICES

941,575,118‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

8

.8

%

132,728

Amphenol

Corp

(Class

A)

10,691,240‌

3,256,789

Apple,

Inc

556,161,857‌

55,785

(a)

Arista

Networks,

Inc

11,177,640‌

28,932

CDW

Corp

5,797,973‌

903,215

Cisco

Systems,

Inc

47,084,598‌

170,689

Corning,

Inc

4,567,638‌

13,861

(a)

F5

Networks,

Inc

2,101,189‌

285,877

Hewlett

Packard

Enterprise

Co

4,396,788‌

195,411

HP,

Inc

5,145,172‌

67,379

Juniper

Networks,

Inc

1,813,843‌

38,900

(a)

Keysight

Technologies,

Inc

4,747,745‌

36,784

Motorola

Solutions,

Inc

10,242,873‌

45,795

NetApp,

Inc

3,332,960‌

40,859

Seagate

Technology

Holdings

plc

2,788,627‌

69,728

TE

Connectivity

Ltd

8,217,445‌

10,387

(a)

Teledyne

Technologies,

Inc

3,890,866‌

52,555

(a)

Trimble

Inc

2,476,917‌

67,702

(a)

Western

Digital

Corp

2,718,235‌

11,623

(a)

Zebra

Technologies

Corp

(Class

A)

2,434,205‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

689,787,811‌

TELECOMMUNICATION

SERVICES

-

0

.9

%

1,575,557

AT&T,

Inc

24,263,578‌

114,667

(a)

T-Mobile

US,

Inc

16,495,995‌

932,010

Verizon

Communications,

Inc

32,741,511‌

TOTAL

TELECOMMUNICATION

SERVICES

73,501,084‌

TRANSPORTATION

-

1

.5

%

31,658

(a)

Alaska

Air

Group,

Inc

1,001,342‌

140,758

(a),(b)

American

Airlines

Group,

Inc

1,569,452‌

26,916

CH

Robinson

Worldwide,

Inc

2,202,536‌

441,302

CSX

Corp

13,172,865‌

139,199

Delta

Air

Lines,

Inc

4,349,969‌

34,423

Expeditors

International

Washington,

Inc

3,760,713‌

50,856

FedEx

Corp

12,210,526‌

18,146

JB

Hunt

Transport

Services,

Inc

3,118,753‌

50,745

Norfolk

Southern

Corp

9,681,638‌

20,104

Old

Dominion

Freight

Line

7,572,373‌

131,493

Southwest

Airlines

Co

2,923,089‌

135,178

Union

Pacific

Corp

28,064,304‌

69,812

(a)

United

Airlines

Holdings,

Inc

2,444,118‌

161,015

United

Parcel

Service,

Inc

(Class

B)

22,743,369‌

TOTAL

TRANSPORTATION

114,815,047‌

UTILITIES

-

2

.5

%

154,880

AES

Corp

2,307,712‌

58,186

Alliant

Energy

Corp

2,838,895‌

57,798

Ameren

Corp

4,375,887‌

112,303

American

Electric

Power

Co,

Inc

8,483,369‌

44,076

American

Water

Works

Co,

Inc

5,185,541‌

31,813

Atmos

Energy

Corp

3,424,988‌

142,910

Centerpoint

Energy,

Inc

3,841,421‌

66,074

CMS

Energy

Corp

3,590,461‌

77,272

Consolidated

Edison,

Inc

6,783,709‌

71,306

Constellation

Energy

Corp

8,051,873‌

184,031

Dominion

Energy,

Inc

7,420,130‌

113

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

45,359

DTE

Energy

Co

$

4,371,700‌

172,328

Duke

Energy

Corp

15,318,236‌

81,726

Edison

International

5,153,642‌

49,122

Entergy

Corp

4,695,572‌

53,163

Evergy,

Inc

2,612,430‌

76,774

Eversource

Energy

4,129,673‌

215,497

Exelon

Corp

8,391,453‌

121,729

FirstEnergy

Corp

4,333,552‌

449,877

NextEra

Energy,

Inc

26,227,829‌

89,204

NiSource,

Inc

2,244,373‌

49,798

NRG

Energy,

Inc

2,110,439‌

464,560

(a)

PG&E

Corp

7,572,328‌

25,588

Pinnacle

West

Capital

Corp

1,898,118‌

164,693

PPL

Corp

4,046,507‌

110,769

Public

Service

Enterprise

Group,

Inc

6,828,909‌

137,456

Sempra

Energy

9,626,044‌

239,217

Southern

Co

16,099,304‌

68,760

WEC

Energy

Group,

Inc

5,596,376‌

119,678

Xcel

Energy,

Inc

7,093,315‌

TOTAL

UTILITIES

194,653,786‌

TOTAL

COMMON

STOCKS

7,785,950,260‌

(Cost

$3,709,824,650)

TOTAL

LONG-TERM

INVESTMENTS

7,785,950,260‌

(Cost

$3,709,824,650)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.7%

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

$

5,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

12/12/23

4,970,678‌

10,000,000

FHLB

0

.000

01/05/24

9,906,934‌

TOTAL

GOVERNMENT

AGENCY

DEBT

14,877,612‌

REPURCHASE

AGREEMENT

-

0

.3

%

25,843,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

25,843,000‌

TOTAL

REPURCHASE

AGREEMENT

25,843,000‌

TREASURY

DEBT

-

0

.2

%

10,000,000

United

States

Treasury

Bill

0

.000

11/07/23

9,991,200‌

6,500,000

United

States

Treasury

Bill

0

.000

11/14/23

6,487,586‌

TOTAL

TREASURY

DEBT

16,478,786‌

TOTAL

SHORT-TERM

INVESTMENTS

57,199,398‌

(Cost

$57,195,678)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.0%

333

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

333‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

333‌

(Cost

$333)

TOTAL

INVESTMENTS

-

100.0%

7,843,149,991‌

(Cost

$3,767,020,661)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.0)%

(

268,716‌

)

NET

ASSETS

-

100.0%

$

7,842,881,275‌

S&P

500

Index

Fund

October

31,

2023

114

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$1,681,564.

(c)

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$25,843,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

1.375%

and

maturity

date

11/15/31,

valued

at

$26,359,873.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

S&P

500

E

Mini

Index

238‌

12/15/23

 $

51,732,480‌

$

50,125,775‌

$

(

1,606,705‌

)

Portfolios

of

Investments

Small-Cap

Blend

Index

Fund

October

31,

2023

115

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

99.4%

COMMON

STOCKS

-

99.4%

AUTOMOBILES

&

COMPONENTS

-

1

.5

%

126,161

(a)

Adient

plc

$

4,250,364‌

152,153

(a)

American

Axle

&

Manufacturing

Holdings,

Inc

1,027,033‌

22,288

(a),(b)

Atmus

Filtration

Technologies,

Inc

418,123‌

22,990

(a)

Cooper-Standard

Holdings,

Inc

285,536‌

169,539

Dana

Inc

1,946,308‌

34,660

(a)

Dorman

Products,

Inc

2,155,159‌

264,884

(a),(b)

Fisker,

Inc

1,191,978‌

56,562

(a)

Fox

Factory

Holding

Corp

4,608,106‌

44,645

(a)

Gentherm,

Inc

1,795,622‌

372,014

(a)

Goodyear

Tire

&

Rubber

Co

4,426,967‌

70,415

(a),(b)

Holley,

Inc

299,264‌

33,233

LCI

Industries

3,605,448‌

14,599

(a),(b)

Livewire

Group,

Inc

156,501‌

369,808

(a),(b)

Luminar

Technologies,

Inc

1,172,291‌

67,424

(a)

Modine

Manufacturing

Co

2,663,248‌

28,706

Patrick

Industries,

Inc

2,157,256‌

211,191

(a),(b)

Solid

Power,

Inc

278,772‌

27,671

Standard

Motor

Products,

Inc

966,548‌

35,980

(a)

Stoneridge,

Inc

585,395‌

37,511

(a)

Visteon

Corp

4,318,641‌

39,399

Winnebago

Industries,

Inc

2,283,172‌

230,006

(a),(b)

Workhorse

Group,

Inc

95,935‌

30,055

(a)

XPEL,

Inc

1,391,546‌

TOTAL

AUTOMOBILES

&

COMPONENTS

42,079,213‌

BANKS

-

8

.8

%

22,523

1st

Source

Corp

1,027,499‌

11,792

(b)

ACNB

Corp

405,763‌

24,152

Amalgamated

Financial

Corp

440,532‌

35,315

Amerant

Bancorp,

Inc

643,792‌

14,438

American

National

Bankshares,

Inc

550,954‌

88,865

Ameris

Bancorp

3,314,664‌

10,397

(b)

Ames

National

Corp

175,917‌

20,287

Arrow

Financial

Corp

432,316‌

199,216

Associated

Banc-Corp

3,229,291‌

101,016

Atlantic

Union

Bankshares

Corp

2,910,271‌

74,613

(a)

Axos

Financial,

Inc

2,688,306‌

73,303

(b)

Banc

of

California,

Inc

821,727‌

29,471

Bancfirst

Corp

2,390,393‌

68,749

(a)

Bancorp,

Inc

2,450,902‌

12,386

(b)

Bank

First

Corp

978,122‌

52,621

(b)

Bank

of

Hawaii

Corp

2,598,951‌

21,287

Bank

of

Marin

Bancorp

357,622‌

65,975

Bank

of

NT

Butterfield

&

Son

Ltd

1,666,528‌

4,212

(b)

Bank7

Corp

88,199‌

100,577

BankUnited,

Inc

2,193,584‌

7,880

Bankwell

Financial

Group,

Inc

192,824‌

44,655

Banner

Corp

1,884,888‌

20,006

Bar

Harbor

Bankshares

500,550‌

17,953

BayCom

Corp

355,469‌

17,299

BCB

Bancorp,

Inc

177,834‌

58,022

Berkshire

Hills

Bancorp,

Inc

1,137,811‌

36,744

(a)

Blue

Foundry

Bancorp

277,417‌

22,285

Blue

Ridge

Bankshares,

Inc

70,198‌

28,761

(a)

Bridgewater

Bancshares,

Inc

276,968‌

Small-Cap

Blend

Index

Fund

October

31,

2023

116

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

116,618

Brookline

Bancorp,

Inc

$

949,271‌

8,547

(b)

Burke

&

Herbert

Financial

Services

Corp

382,307‌

32,019

Business

First

Bancshares,

Inc

625,651‌

31,420

Byline

Bancorp,

Inc

596,037‌

4,213

(b)

C&F

Financial

Corp

221,857‌

244,745

Cadence

Bank

5,183,699‌

10,058

Cambridge

Bancorp

540,215‌

19,080

Camden

National

Corp

556,373‌

12,139

Capital

Bancorp,

Inc

248,121‌

18,901

Capital

City

Bank

Group,

Inc

540,002‌

162,362

Capitol

Federal

Financial,

Inc

844,282‌

26,939

Capstar

Financial

Holdings,

Inc

408,934‌

33,893

(a)

Carter

Bankshares,

Inc

381,635‌

93,003

Cathay

General

Bancorp

3,153,732‌

36,449

Central

Pacific

Financial

Corp

575,165‌

12,827

(b)

Central

Valley

Community

Bancorp

202,282‌

4,222

Chemung

Financial

Corp

174,284‌

8,887

ChoiceOne

Financial

Services,

Inc

167,698‌

19,873

Citizens

&

Northern

Corp

359,701‌

5,818

Citizens

Financial

Services,

Inc

287,700‌

19,148

City

Holding

Co

1,738,255‌

18,904

Civista

Bancshares,

Inc

275,620‌

28,116

CNB

Financial

Corp

511,149‌

13,841

(a)

Coastal

Financial

Corp

514,470‌

12,090

(b)

Codorus

Valley

Bancorp,

Inc

237,206‌

22,879

Colony

Bankcorp,

Inc

227,646‌

40,305

(a)

Columbia

Financial,

Inc

648,910‌

71,113

Community

Bank

System,

Inc

2,840,964‌

18,497

Community

Trust

Bancorp,

Inc

694,747‌

49,620

ConnectOne

Bancorp,

Inc

808,310‌

59,959

(a)

CrossFirst

Bankshares,

Inc

634,366‌

38,777

(a)

Customers

Bancorp,

Inc

1,559,223‌

179,502

CVB

Financial

Corp

2,803,821‌

45,964

Dime

Community

Bancshares,

Inc

845,278‌

42,002

Eagle

Bancorp,

Inc

818,199‌

204,471

Eastern

Bankshares,

Inc

2,251,226‌

12,398

Enterprise

Bancorp,

Inc

326,191‌

47,861

Enterprise

Financial

Services

Corp

1,664,127‌

21,429

Equity

Bancshares,

Inc

518,582‌

9,679

Esquire

Financial

Holdings,

Inc

443,298‌

11,338

(b)

ESSA

Bancorp,

Inc

188,778‌

6,438

(b)

Evans

Bancorp,

Inc

159,147‌

16,904

Farmers

&

Merchants

Bancorp,

Inc

294,468‌

51,109

Farmers

National

Banc

Corp

577,021‌

48,789

FB

Financial

Corp

1,432,933‌

6,177

(b)

Fidelity

D&D

Bancorp,

Inc

276,730‌

20,676

Financial

Institutions,

Inc

327,508‌

53,480

First

Bancorp

1,551,990‌

232,443

First

BanCorp

3,103,114‌

13,531

First

Bancorp,

Inc

317,031‌

39,275

First

Bancshares,

Inc

951,240‌

21,560

(b)

First

Bank

238,454‌

66,943

First

Busey

Corp

1,329,488‌

9,719

First

Business

Financial

Services,

Inc

298,373‌

134,738

First

Commonwealth

Financial

Corp

1,641,109‌

23,921

First

Community

Bancshares,

Inc

781,021‌

8,906

(b)

First

Community

Corp

157,636‌

122,350

First

Financial

Bancorp

2,263,475‌

175,857

First

Financial

Bankshares,

Inc

4,229,361‌

15,527

First

Financial

Corp

534,284‌

69,857

First

Foundation,

Inc

317,151‌

111,251

First

Interstate

BancSystem,

Inc

2,566,561‌

79,715

First

Merchants

Corp

2,177,017‌

117

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

24,674

First

Mid

Bancshares,

Inc

$

674,094‌

28,767

First

of

Long

Island

Corp

308,958‌

11,035

(a)

First

Western

Financial,

Inc

147,538‌

16,956

Five

Star

Bancorp

330,133‌

38,663

Flushing

Financial

Corp

477,101‌

8,212

FS

Bancorp,

Inc

237,080‌

213,527

Fulton

Financial

Corp

2,773,716‌

17,596

(a),(b)

FVCBankcorp,

Inc

192,148‌

37,852

German

American

Bancorp,

Inc

1,034,495‌

149,046

Glacier

Bancorp,

Inc

4,499,699‌

10,475

Great

Southern

Bancorp,

Inc

520,817‌

9,442

Greene

County

Bancorp,

Inc

223,775‌

11,476

Guaranty

Bancshares,

Inc

327,410‌

115,507

Hancock

Whitney

Corp

3,976,906‌

40,201

Hanmi

Financial

Corp

590,151‌

57,370

HarborOne

Bancorp,

Inc

564,521‌

14,060

HBT

Financial,

Inc

253,080‌

57,139

Heartland

Financial

USA,

Inc

1,565,609‌

80,674

Heritage

Commerce

Corp

659,913‌

45,837

Heritage

Financial

Corp

745,768‌

62,526

Hilltop

Holdings,

Inc

1,726,968‌

1,840

(b)

Hingham

Institution

For

Savings

The

273,387‌

10,191

Home

Bancorp,

Inc

349,246‌

252,024

Home

Bancshares,

Inc

5,153,891‌

25,132

HomeStreet,

Inc

121,388‌

23,489

HomeTrust

Bancshares,

Inc

484,108‌

154,369

Hope

Bancorp,

Inc

1,352,272‌

62,708

Horizon

Bancorp,

Inc

595,099‌

59,599

Independent

Bank

Corp

2,908,431‌

27,331

Independent

Bank

Corp

545,253‌

47,956

Independent

Bank

Group,

Inc

1,695,245‌

70,226

International

Bancshares

Corp

3,078,006‌

15,873

John

Marshall

Bancorp,

Inc

291,746‌

69,467

Kearny

Financial

Corp

482,101‌

85,125

Lakeland

Bancorp,

Inc

960,210‌

34,300

Lakeland

Financial

Corp

1,689,275‌

13,925

(b)

LCNB

Corp

194,811‌

45,800

Live

Oak

Bancshares,

Inc

1,321,330‌

20,572

Luther

Burbank

Corp

167,456‌

31,812

Macatawa

Bank

Corp

290,444‌

8,429

MainStreet

Bancshares

Inc

162,511‌

21,514

Mercantile

Bank

Corp

708,671‌

25,254

Metrocity

Bankshares,

Inc

506,090‌

12,423

(a)

Metropolitan

Bank

Holding

Corp

402,629‌

19,978

Mid

Penn

Bancorp,

Inc

380,781‌

10,348

Middlefield

Banc

Corp

263,874‌

26,118

Midland

States

Bancorp,

Inc

569,895‌

19,523

MidWestOne

Financial

Group,

Inc

388,898‌

14,402

MVB

Financial

Corp

282,999‌

48,263

National

Bank

Holdings

Corp

1,504,840‌

7,584

(b)

National

Bankshares,

Inc

178,224‌

59,498

NBT

Bancorp,

Inc

1,991,398‌

16,274

Nicolet

Bankshares,

Inc

1,185,073‌

7,399

Northeast

Bank

353,228‌

16,523

(b)

Northeast

Community

Bancorp,

Inc

251,811‌

54,993

Northfield

Bancorp,

Inc

472,940‌

6,833

Northrim

BanCorp,

Inc

285,004‌

169,890

Northwest

Bancshares,

Inc

1,770,254‌

9,670

(b)

Norwood

Financial

Corp

247,649‌

8,516

(b)

Oak

Valley

Bancorp

212,474‌

76,927

OceanFirst

Financial

Corp

973,896‌

63,196

OFG

Bancorp

1,871,866‌

386,637

Old

National

Bancorp

5,296,927‌

Small-Cap

Blend

Index

Fund

October

31,

2023

118

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

59,123

Old

Second

Bancorp,

Inc

$

801,708‌

6,875

(b)

Orange

County

Bancorp,

Inc

303,187‌

37,792

Origin

Bancorp,

Inc

1,118,265‌

13,166

Orrstown

Financial

Services,

Inc

277,934‌

128,351

Pacific

Premier

Bancorp,

Inc

2,438,669‌

150,535

(b)

PacWest

Bancorp

1,065,788‌

19,482

Park

National

Corp

1,975,280‌

14,104

Parke

Bancorp,

Inc

237,511‌

36,082

Pathward

Financial,

Inc

1,634,154‌

16,298

PCB

Bancorp

250,663‌

22,380

Peapack

Gladstone

Financial

Corp

523,021‌

8,610

(b)

Penns

Woods

Bancorp,

Inc

181,499‌

44,175

Peoples

Bancorp,

Inc

1,218,346‌

9,455

Peoples

Financial

Services

Corp

370,731‌

16,955

(a)

Pioneer

Bancorp,

Inc

139,031‌

7,210

Plumas

Bancorp

246,221‌

27,093

(a),(b)

Ponce

Financial

Group,

Inc

210,784‌

17,517

Preferred

Bank

1,043,488‌

49,051

Premier

Financial

Corp

851,035‌

26,697

Primis

Financial

Corp

249,884‌

6,731

(b)

Princeton

Bancorp,

Inc

201,930‌

97,826

Provident

Financial

Services,

Inc

1,374,455‌

22,065

QCR

Holdings,

Inc

1,046,984‌

19,233

RBB

Bancorp

222,526‌

5,706

Red

River

Bancshares,

Inc

265,215‌

74,644

Renasant

Corp

1,820,567‌

10,738

Republic

Bancorp,

Inc

(Class

A)

474,512‌

51,685

S&T

Bancorp,

Inc

1,331,406‌

58,089

Sandy

Spring

Bancorp,

Inc

1,187,920‌

111,932

Seacoast

Banking

Corp

of

Florida

2,262,146‌

67,156

ServisFirst

Bancshares,

Inc

3,167,077‌

39,076

Shore

Bancshares,

Inc

400,920‌

18,048

Sierra

Bancorp

317,645‌

164,888

Simmons

First

National

Corp

(Class

A)

2,343,058‌

21,563

SmartFinancial,

Inc

449,589‌

15,988

South

Plains

Financial,

Inc

428,798‌

10,600

(a)

Southern

First

Bancshares,

Inc

286,200‌

11,088

Southern

Missouri

Bancorp,

Inc

448,510‌

9,401

Southern

States

Bancshares,

Inc

218,291‌

39,907

(b)

Southside

Bancshares,

Inc

1,065,517‌

100,748

SouthState

Corp

6,659,443‌

64,673

Stellar

Bancorp,

Inc

1,405,991‌

23,940

(a)

Sterling

Bancorp,

Inc

132,628‌

36,475

Stock

Yards

Bancorp,

Inc

1,426,537‌

14,067

Summit

Financial

Group,

Inc

302,440‌

63,089

(a)

Texas

Capital

Bancshares,

Inc

3,473,680‌

17,897

(a)

Third

Coast

Bancshares,

Inc

277,582‌

9,087

Timberland

Bancorp,

Inc

256,163‌

18,120

Tompkins

Trustco,

Inc

907,450‌

94,495

Towne

Bank

2,262,210‌

40,828

Trico

Bancshares

1,320,786‌

29,987

Triumph

Financial,

Inc

1,866,691‌

25,242

TrustCo

Bank

Corp

NY

644,428‌

81,793

Trustmark

Corp

1,644,857‌

59,490

UMB

Financial

Corp

3,731,213‌

172,358

United

Bankshares,

Inc

4,901,862‌

154,100

United

Community

Banks,

Inc

3,404,069‌

7,945

Unity

Bancorp,

Inc

191,157‌

39,080

Univest

Financial

Corp

651,073‌

15,236

(a)

USCB

Financial

Holdings,

Inc

163,635‌

570,735

Valley

National

Bancorp

4,440,318‌

71,148

Veritex

Holdings,

Inc

1,225,169‌

5,470

Virginia

National

Bankshares

Corp

168,093‌

119

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

87,860

Washington

Federal,

Inc

$

2,168,385‌

22,490

Washington

Trust

Bancorp,

Inc

521,543‌

77,647

WesBanco,

Inc

1,893,810‌

22,562

West

Bancorporation,

Inc

370,694‌

34,720

Westamerica

Bancorporation

1,640,173‌

82,267

WSFS

Financial

Corp

2,912,252‌

TOTAL

BANKS

246,174,024‌

CAPITAL

GOODS

-

11

.5

%

80,326

(a),(b)

374Water,

Inc

138,161‌

170,902

(a)

3D

Systems

Corp

637,464‌

90,042

Aaon,

Inc

4,905,488‌

45,361

(a)

AAR

Corp

2,692,629‌

34,227

(a)

Aerovironment,

Inc

3,924,468‌

32,808

(a)

AerSale

Corp

501,634‌

13,543

Alamo

Group,

Inc

2,170,943‌

41,606

Albany

International

Corp

(Class

A)

3,395,466‌

18,217

Allied

Motion

Technologies,

Inc

502,789‌

27,778

Alta

Equipment

Group,

Inc

255,280‌

43,486

(a)

Ameresco,

Inc

1,137,159‌

21,227

(a)

American

Woodmark

Corp

1,427,091‌

7,149

(a),(b)

Amprius

Technologies,

Inc

20,804‌

278,396

(a)

API

Group

Corp

7,202,104‌

29,107

Apogee

Enterprises,

Inc

1,249,272‌

51,138

Applied

Industrial

Technologies,

Inc

7,850,194‌

199,523

(a),(b)

Archer

Aviation,

Inc

947,734‌

64,117

Arcosa,

Inc

4,428,561‌

17,133

Argan,

Inc

783,663‌

199,661

(a)

Array

Technologies,

Inc

3,460,125‌

30,543

Astec

Industries,

Inc

1,222,942‌

34,552

(a)

Astronics

Corp

529,682‌

51,470

(a)

Atkore,

Inc

6,396,692‌

32,520

AZZ,

Inc

1,537,220‌

80,764

(a)

Babcock

&

Wilcox

Enterprises,

Inc

212,409‌

64,274

Barnes

Group,

Inc

1,336,256‌

72,428

(a)

Beacon

Roofing

Supply,

Inc

5,154,701‌

63,987

(a),(b)

Blink

Charging

Co

152,289‌

253,502

(a),(b)

Bloom

Energy

Corp

2,636,421‌

20,470

(a)

Blue

Bird

Corp

372,759‌

11,616

(a)

BlueLinx

Holdings,

Inc

826,014‌

52,483

Boise

Cascade

Co

4,920,281‌

13,471

(a)

Bowman

Consulting

Group

Ltd

357,924‌

30,824

(b)

Brookfield

Business

Corp

438,317‌

25,296

(b)

Cadre

Holdings,

Inc

709,553‌

56,786

(a)

Chart

Industries,

Inc

6,600,237‌

37,075

Columbus

McKinnon

Corp

1,133,383‌

47,160

Comfort

Systems

USA,

Inc

8,576,046‌

41,851

(a)

Commercial

Vehicle

Group,

Inc

291,701‌

32,351

(a)

Concrete

Pumping

Holdings,

Inc

227,428‌

53,512

(a)

Construction

Partners,

Inc

2,057,536‌

20,677

CSW

Industrials,

Inc

3,665,205‌

79,327

(a),(b)

Custom

Truck

One

Source,

Inc

457,717‌

369,528

(a),(b)

Desktop

Metal,

Inc

320,159‌

29,703

Douglas

Dynamics,

Inc

721,189‌

38,323

(a),(b)

Dragonfly

Energy

Holdings

Corp

31,582‌

17,595

(a)

Ducommun,

Inc

841,745‌

19,002

(a)

DXP

Enterprises,

Inc

619,465‌

37,592

(a)

Dycom

Industries,

Inc

3,202,087‌

21,102

Encore

Wire

Corp

3,773,671‌

73,823

(a)

Energy

Recovery,

Inc

1,122,110‌

134,808

(a),(b)

Energy

Vault

Holdings,

Inc

270,964‌

76,028

Enerpac

Tool

Group

Corp

2,151,592‌

54,708

EnerSys

4,681,911‌

Small-Cap

Blend

Index

Fund

October

31,

2023

120

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

177,119

(a),(b)

Enovix

Corp

$

1,578,130‌

27,838

EnPro

Industries,

Inc

3,091,688‌

146,909

(a),(b)

Eos

Energy

Enterprises,

Inc

258,560‌

34,366

ESCO

Technologies,

Inc

3,341,062‌

112,738

(a),(b)

ESS

Tech,

Inc

135,286‌

24,700

(a),(b)

Eve

Holding,

Inc

185,250‌

6,471

(b)

EVI

Industries,

Inc

166,499‌

79,938

Federal

Signal

Corp

4,639,602‌

52,183

(a),(b)

Fluence

Energy,

Inc

903,810‌

189,723

(a)

Fluor

Corp

6,315,879‌

61,189

Franklin

Electric

Co,

Inc

5,306,310‌

131,690

FTAI

Aviation

Ltd

4,952,861‌

86,060

(a),(b)

FTC

Solar,

Inc

92,084‌

553,351

(a)

FuelCell

Energy,

Inc

603,153‌

46,712

GATX

Corp

4,885,141‌

13,295

(a)

Gencor

Industries,

Inc

188,789‌

39,829

(a)

Gibraltar

Industries,

Inc

2,423,993‌

16,083

Global

Industrial

Co

513,852‌

55,123

(a)

GMS,

Inc

3,223,593‌

31,797

Gorman-Rupp

Co

939,601‌

247,954

GrafTech

International

Ltd

855,441‌

59,822

Granite

Construction,

Inc

2,421,595‌

92,133

(a)

Great

Lakes

Dredge

&

Dock

Corp

700,211‌

41,161

Greenbrier

Cos,

Inc

1,423,759‌

59,192

Griffon

Corp

2,364,128‌

43,018

H&E

Equipment

Services,

Inc

1,751,693‌

42,929

Helios

Technologies,

Inc

2,220,288‌

38,059

Herc

Holdings,

Inc

4,064,321‌

90,954

Hillenbrand,

Inc

3,458,981‌

263,199

(a)

Hillman

Solutions

Corp

1,726,585‌

57,445

(a)

Hudson

Technologies,

Inc

739,892‌

187,746

(a),(b)

Hyliion

Holdings

Corp

111,953‌

14,404

Hyster-Yale

Materials

Handling,

Inc

576,304‌

11,331

(a)

IES

Holdings,

Inc

705,128‌

60,268

(a),(b)

INNOVATE

Corp

73,527‌

24,320

Insteel

Industries,

Inc

678,771‌

110,401

(a)

Janus

International

Group,

Inc

1,033,353‌

113,834

(a)

JELD-WEN

Holding,

Inc

1,289,739‌

42,475

John

Bean

Technologies

Corp

4,418,249‌

15,490

Kadant,

Inc

3,407,800‌

39,353

Kaman

Corp

732,359‌

7,176

Karat

Packaging,

Inc

148,041‌

108,717

Kennametal,

Inc

2,512,450‌

167,693

(a)

Kratos

Defense

&

Security

Solutions,

Inc

2,859,166‌

10,539

(a)

Lawson

Products,

Inc

317,751‌

68,428

(a)

Leonardo

DRS,

Inc

1,304,922‌

12,296

(a)

Limbach

Holdings,

Inc

366,421‌

14,764

Lindsay

Corp

1,844,319‌

35,165

LSI

Industries,

Inc

523,255‌

35,921

Luxfer

Holdings

plc

297,067‌

45,765

(a)

Manitowoc

Co,

Inc

585,792‌

29,537

(a)

Masonite

International

Corp

2,337,558‌

174,144

(a)

Masterbrand,

Inc

1,934,740‌

14,640

(a)

Mayville

Engineering

Co

Inc

176,998‌

33,280

McGrath

RentCorp

3,347,968‌

98,835

(a),(b)

Microvast

Holdings,

Inc

121,567‌

14,052

Miller

Industries,

Inc

511,071‌

38,216

Moog,

Inc

(Class

A)

4,434,967‌

111,751

(a)

MRC

Global,

Inc

1,174,503‌

148,488

Mueller

Industries,

Inc

5,599,482‌

208,203

Mueller

Water

Products,

Inc

(Class

A)

2,575,471‌

22,003

(a)

MYR

Group,

Inc

2,548,607‌

6,945

National

Presto

Industries,

Inc

519,139‌

121

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

66,922

(a)

NEXTracker,

Inc

$

2,326,209‌

803,795

(a),(b)

Nikola

Corp

868,099‌

13,656

(a)

Northwest

Pipe

Co

372,263‌

143,719

(a)

NOW,

Inc

1,583,783‌

71,332

(a),(b)

NuScale

Power

Corp

241,102‌

4,550

Omega

Flex,

Inc

332,468‌

27,268

Park

Aerospace

Corp

400,294‌

10,937

Park-Ohio

Holdings

Corp

248,051‌

54,679

(a)

Parsons

Corp

3,092,097‌

76,315

(a)

PGT

Innovations,

Inc

2,284,871‌

12,060

Powell

Industries,

Inc

924,399‌

3,385

Preformed

Line

Products

Co

458,160‌

71,270

Primoris

Services

Corp

2,142,376‌

34,009

(a)

Proto

Labs,

Inc

802,952‌

43,563

Quanex

Building

Products

Corp

1,169,667‌

11,779

(a),(b)

Redwire

Corp

31,568‌

192,499

(a)

Resideo

Technologies,

Inc

2,787,386‌

42,409

REV

Group,

Inc

603,904‌

378,736

(a),(b)

Rocket

Lab

USA,

Inc

1,602,053‌

12,666

Rush

Enterprises,

Inc

512,213‌

83,192

Rush

Enterprises,

Inc

(Class

A)

2,959,971‌

172,581

(a),(b)

SES

AI

Corp

312,372‌

223,921

(a)

Shoals

Technologies

Group,

Inc

3,439,427‌

46,436

Shyft

Group,

Inc

509,867‌

57,191

Simpson

Manufacturing

Co,

Inc

7,616,697‌

77,038

(a),(b)

SKYX

Platforms

Corp

122,490‌

58,800

(a)

SPX

Technologies,

Inc

4,711,056‌

16,104

Standex

International

Corp

2,312,051‌

199,739

(a),(b)

Stem,

Inc

675,118‌

39,865

(a)

Sterling

Construction

Co,

Inc

2,904,165‌

115,662

(a),(b)

SunPower

Corp

493,877‌

25,158

Tennant

Co

1,867,227‌

89,535

Terex

Corp

4,100,703‌

116,727

(a),(b)

Terran

Orbital

Corp

93,253‌

55,071

Textainer

Group

Holdings

Ltd

2,705,087‌

45,098

(a)

Thermon

Group

Holdings,

Inc

1,203,666‌

68,813

(a)

Titan

International,

Inc

781,716‌

25,742

(a)

Titan

Machinery,

Inc

639,431‌

43,078

(a),(b)

TPI

Composites,

Inc

99,510‌

9,859

(a)

Transcat,

Inc

887,507‌

107,880

Trinity

Industries,

Inc

2,247,140‌

86,691

(a)

Triumph

Group,

Inc

646,715‌

57,548

(a)

Tutor

Perini

Corp

414,921‌

79,498

UFP

Industries,

Inc

7,565,825‌

14,442

(a)

V2X,

Inc

737,553‌

122,119

(a),(b)

Velo3D,

Inc

161,197‌

17,187

Veritiv

Corp

2,911,650‌

29,577

(a)

Vicor

Corp

1,145,813‌

344,139

(a),(b)

Virgin

Galactic

Holdings,

Inc

509,326‌

64,682

Wabash

National

Corp

1,338,271‌

36,286

Watts

Water

Technologies,

Inc

(Class

A)

6,277,841‌

3,320

(a)

Willis

Lease

Finance

Corp

148,338‌

41,805

(a),(b)

Xometry,

Inc

608,263‌

195,700

Zurn

Elkay

Water

Solutions

Corp

5,178,222‌

TOTAL

CAPITAL

GOODS

320,830,873‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

4

.1

%

87,184

ABM

Industries,

Inc

3,429,819‌

126,811

ACCO

Brands

Corp

641,664‌

166,111

(a)

ACV

Auctions,

Inc

2,214,260‌

523,480

(a)

Alight,

Inc

3,475,907‌

41,199

Aris

Water

Solution,

Inc

344,012‌

63,883

(a)

ASGN,

Inc

5,331,675‌

Small-Cap

Blend

Index

Fund

October

31,

2023

122

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

449,113

(a),(b)

Aurora

Innovation,

Inc

$

785,948‌

9,094

Barrett

Business

Services,

Inc

831,737‌

162,423

(a),(b)

BlackSky

Technology,

Inc

193,283‌

55,968

(a)

BrightView

Holdings,

Inc

377,224‌

60,971

Brink's

Co

4,076,521‌

74,953

(a)

Casella

Waste

Systems,

Inc

(Class

A)

5,655,204‌

64,397

(a)

CBIZ,

Inc

3,346,068‌

39,690

(a)

CECO

Environmental

Corp

642,184‌

23,708

(a)

Cimpress

plc

1,414,656‌

1,670

Compx

International,

Inc

31,429‌

239,412

(a)

Conduent,

Inc

763,724‌

146,893

(a)

CoreCivic,

Inc

1,865,541‌

9,209

CRA

International,

Inc

894,286‌

41,641

CSG

Systems

International,

Inc

1,951,297‌

56,682

Deluxe

Corp

966,428‌

34,296

Ennis,

Inc

732,563‌

214,822

(a)

ExlService

Holdings,

Inc

5,609,002‌

67,282

Exponent,

Inc

4,931,098‌

71,771

First

Advantage

Corp

933,741‌

84,577

(a),(b)

FiscalNote

Holdings,

Inc

112,487‌

15,725

(a)

Forrester

Research,

Inc

364,820‌

15,776

(a)

Franklin

Covey

Co

621,732‌

157,327

(a),(b)

GEO

Group,

Inc

1,375,038‌

106,622

(a)

Harsco

Corp

612,010‌

99,048

Healthcare

Services

Group

940,956‌

27,521

Heidrick

&

Struggles

International,

Inc

669,861‌

100,756

Herman

Miller,

Inc

2,367,766‌

7,182

HireQuest,

Inc

109,454‌

13,122

(a)

HireRight

Holdings

Corp

120,854‌

62,284

HNI

Corp

2,160,632‌

25,676

(a)

Huron

Consulting

Group,

Inc

2,551,167‌

24,561

ICF

International,

Inc

3,112,616‌

34,234

(a),(b)

Innodata,

Inc

256,755‌

48,152

Insperity,

Inc

5,096,408‌

77,869

Interface,

Inc

692,255‌

40,981

Kelly

Services,

Inc

(Class

A)

731,511‌

25,448

Kforce,

Inc

1,553,346‌

69,980

Korn/Ferry

International

3,185,490‌

26,927

(a),(b)

LanzaTech

Global,

Inc

94,783‌

132,683

(a)

Legalzoom.com,

Inc

1,322,850‌

99,099

(a),(b)

Li-Cycle

Holdings

Corp

132,793‌

29,241

(a)

Liquidity

Services,

Inc

563,474‌

39,687

Matthews

International

Corp

(Class

A)

1,406,507‌

80,668

MAXIMUS,

Inc

6,027,513‌

27,337

(a)

Mistras

Group,

Inc

149,533‌

37,154

(a)

Montrose

Environmental

Group,

Inc

859,001‌

9,268

NL

Industries,

Inc

46,155‌

18,667

(a)

NV5

Global,

Inc

1,761,232‌

145,769

(a)

OPENLANE,

Inc

1,957,678‌

91,816

(a),(b)

Performant

Financial

Corp

213,931‌

232,080

Pitney

Bowes,

Inc

749,618‌

227,968

(a),(b)

Planet

Labs

PBC

492,411‌

44,823

(a)

Quad

Graphics,

Inc

219,185‌

13,233

(a)

Red

Violet,

Inc

261,881‌

43,962

Resources

Connection,

Inc

592,168‌

25,514

(a)

SP

Plus

Corp

1,289,222‌

120,154

Steelcase,

Inc

(Class

A)

1,310,880‌

42,287

(a)

Sterling

Check

Corp

472,769‌

50,005

(a)

TriNet

Group,

Inc

5,138,014‌

41,004

(a)

TrueBlue,

Inc

453,914‌

25,716

TTEC

Holdings,

Inc

529,235‌

19,863

Unifirst

Corp

3,266,073‌

167,052

(a)

Upwork,

Inc

1,745,693‌

123

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

184,425

(a)

Verra

Mobility

Corp

$

3,646,082‌

28,588

(a)

Viad

Corp

692,687‌

17,216

VSE

Corp

926,221‌

16,227

(a)

Willdan

Group,

Inc

286,244‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

114,682,176‌

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

2

.6

%

36,380

(a)

1-800-FLOWERS.COM,

Inc

(Class

A)

273,214‌

44,172

Aaron's

Co,

Inc

327,315‌

64,190

(a)

Abercrombie

&

Fitch

Co

(Class

A)

3,904,036‌

100,649

Academy

Sports

&

Outdoors,

Inc

4,513,101‌

244,252

American

Eagle

Outfitters,

Inc

4,267,082‌

8,391

(a)

America's

Car-Mart,

Inc

562,029‌

112,475

Arko

Corp

849,186‌

27,539

(a)

Asbury

Automotive

Group,

Inc

5,270,138‌

166,909

(a),(b)

BARK,

Inc

178,593‌

29,233

(b)

Big

5

Sporting

Goods

Corp

206,385‌

26,199

Big

Lots,

Inc

119,467‌

39,370

(a)

Boot

Barn

Holdings,

Inc

2,736,215‌

39,842

Buckle,

Inc

1,345,464‌

17,777

Build-A-Bear

Workshop,

Inc

440,870‌

44,947

Caleres,

Inc

1,149,744‌

55,813

Camping

World

Holdings,

Inc

934,868‌

65,016

(a)

CarParts.com,

Inc

183,995‌

126,977

(a)

Carvana

Co

3,428,379‌

23,483

Cato

Corp

(Class

A)

167,434‌

153,507

(a)

Chico's

FAS,

Inc

1,148,232‌

14,897

(a)

Children's

Place,

Inc

407,731‌

27,052

(a),(b)

ContextLogic,

Inc

106,044‌

68,739

(b)

Designer

Brands,

Inc

694,951‌

76,829

(a)

Destination

XL

Group,

Inc

319,609‌

4,706

(b)

Dillard's,

Inc

(Class

A)

1,460,978‌

20,264

(a)

Duluth

Holdings,

Inc

101,928‌

9,349

(a),(b)

Envela

Corp

36,648‌

138,619

(a),(b)

EVgo,

Inc

286,248‌

106,402

Foot

Locker,

Inc

2,233,378‌

44,369

(a),(b)

Funko,

Inc

342,085‌

16,973

(a)

Genesco,

Inc

465,230‌

18,772

Group

1

Automotive,

Inc

4,736,739‌

80,682

(a)

GrowGeneration

Corp

164,591‌

36,898

(b)

Guess?,

Inc

793,307‌

20,154

Haverty

Furniture

Cos,

Inc

525,012‌

17,167

Hibbett

Sports,

Inc

790,884‌

5,374

(a)

J

Jill,

Inc

153,965‌

22,463

(a)

Lands'

End,

Inc

141,068‌

16,419

(a),(b)

Lazydays

Holdings,

Inc

103,604‌

237,582

(a)

Leslie's,

Inc

1,173,655‌

28,757

(a)

MarineMax,

Inc

787,367‌

42,468

Monro

Muffler,

Inc

1,054,056‌

101,759

(a)

National

Vision

Holdings,

Inc

1,581,335‌

44,299

(a)

ODP

Corp

1,989,911‌

16,656

(a),(b)

OneWater

Marine,

Inc

376,925‌

60,975

(a)

Overstock.com,

Inc

951,210‌

29,033

PetMed

Express,

Inc

200,037‌

74,218

Rent-A-Center,

Inc

1,934,121‌

55,994

(a),(b)

Revolve

Group,

Inc

769,917‌

137,383

(a)

Sally

Beauty

Holdings,

Inc

1,167,756‌

35,524

(a)

Savers

Value

Village,

Inc

531,794‌

24,101

Shoe

Carnival,

Inc

551,431‌

58,826

(b)

Signet

Jewelers

Ltd

4,107,820‌

28,674

(a)

Sleep

Number

Corp

466,526‌

20,253

Sonic

Automotive,

Inc

(Class

A)

969,106‌

52,415

(a),(b)

Sportsman's

Warehouse

Holdings,

Inc

266,792‌

Small-Cap

Blend

Index

Fund

October

31,

2023

124

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL—continued

115,618

(a)

Stitch

Fix,

Inc

$

379,227‌

98,951

(a),(b)

ThredUp,

Inc

318,622‌

30,285

(a)

Tilly's,

Inc

245,309‌

18,215

(a),(b)

Torrid

Holdings,

Inc

42,441‌

86,392

(a)

Urban

Outfitters,

Inc

2,990,891‌

111,499

(a)

Warby

Parker,

Inc

1,447,257‌

8,228

Weyco

Group,

Inc

237,954‌

3,791

Winmark

Corp

1,528,986‌

21,845

(a)

Zumiez,

Inc

358,913‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

72,299,106‌

CONSUMER

DURABLES

&

APPAREL

-

2

.9

%

42,120

Acushnet

Holdings

Corp

2,146,435‌

134,776

(a)

Allbirds,

Inc

116,554‌

122,313

(a),(b)

AMMO,

Inc

355,931‌

39,684

(a)

Beazer

Homes

USA,

Inc

959,956‌

191,506

(a)

Callaway

Golf

Co

2,340,203‌

11,585

(a)

Cavco

Industries,

Inc

2,890,573‌

38,201

Century

Communities,

Inc

2,349,362‌

39,006

Clarus

Corp

225,845‌

64,659

(b)

Cricut,

Inc

551,541‌

31,908

(a),(b)

Dream

Finders

Homes,

Inc

628,269‌

13,002

Escalade,

Inc

221,554‌

30,328

Ethan

Allen

Interiors,

Inc

796,413‌

54,988

(a)

G-III

Apparel

Group

Ltd

1,404,943‌

172,014

(a)

GoPro,

Inc

431,755‌

35,250

(a)

Green

Brick

Partners,

Inc

1,364,175‌

468,729

Hanesbrands,

Inc

1,963,975‌

32,244

(a)

Helen

of

Troy

Ltd

3,170,230‌

13,365

(b)

Hooker

Furniture

Corp

223,463‌

6,484

(a)

Hovnanian

Enterprises,

Inc

450,508‌

31,245

Installed

Building

Products,

Inc

3,489,129‌

35,399

(a)

iRobot

Corp

1,165,689‌

9,285

(a)

JAKKS

Pacific,

Inc

155,709‌

7,010

Johnson

Outdoors,

Inc

333,326‌

95,602

KB

Home

4,225,608‌

74,069

Kontoor

Brands,

Inc

3,440,505‌

16,668

(a)

Landsea

Homes

Corp

124,010‌

58,833

(a)

Latham

Group,

Inc

134,728‌

58,489

La-Z-Boy,

Inc

1,710,218‌

12,191

(a)

Legacy

Housing

Corp

225,655‌

28,206

(a)

LGI

Homes,

Inc

2,665,749‌

18,991

(a)

Lovesac

Co

312,592‌

36,304

(a)

M/I

Homes,

Inc

2,979,469‌

27,910

(a)

Malibu

Boats,

Inc

1,217,434‌

11,799

Marine

Products

Corp

114,922‌

23,720

(a)

MasterCraft

Boat

Holdings,

Inc

484,837‌

78,810

MDC

Holdings,

Inc

2,990,840‌

48,274

Meritage

Homes

Corp

5,504,202‌

19,504

Movado

Group,

Inc

543,381‌

19,624

Oxford

Industries,

Inc

1,656,266‌

27,909

(b)

Purple

Innovation,

Inc

27,072‌

8,350

Rocky

Brands,

Inc

102,538‌

70,786

(a)

Skyline

Champion

Corp

4,150,183‌

61,498

Smith

&

Wesson

Brands,

Inc

905,866‌

25,142

(a),(b)

Snap

One

Holdings

Corp

188,314‌

30,224

(a)

Solo

Brands,

Inc

116,362‌

170,365

(a)

Sonos,

Inc

1,836,535‌

101,185

Steven

Madden

Ltd

3,317,856‌

22,334

Sturm

Ruger

&

Co,

Inc

1,236,187‌

139,092

(a)

Taylor

Morrison

Home

Corp

5,330,005‌

27,491

(a)

Traeger,

Inc

72,301‌

130,520

(a)

Tri

Pointe

Homes,

Inc

3,270,831‌

125

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

7,006

(a),(b)

United

Homes

Group,

Inc

$

46,940‌

32,725

(a)

Vera

Bradley,

Inc

239,547‌

77,489

(a)

Vista

Outdoor,

Inc

1,946,524‌

101,107

(a)

Vizio

Holding

Corp

514,635‌

18,596

(a)

VOXX

International

Corp

(Class

A)

170,525‌

82,592

(a),(b)

Vuzix

Corp

268,424‌

107,291

Wolverine

World

Wide,

Inc

863,693‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

80,670,292‌

CONSUMER

SERVICES

-

3

.5

%

80,061

(a)

2U,

Inc

169,729‌

73,834

(a)

Accel

Entertainment,

Inc

727,265‌

56,599

(a)

Adtalem

Global

Education,

Inc

2,931,828‌

41,884

(a)

BALLY'S

CORP

381,982‌

914

(a)

Biglari

Holdings,

Inc

(B

Shares)

135,062‌

31,486

(a)

BJ's

Restaurants,

Inc

809,820‌

116,115

Bloomin'

Brands,

Inc

2,710,124‌

13,365

Bluegreen

Vacations

Holding

Corp

447,861‌

39,998

(a),(b)

Bowlero

Corp

403,580‌

57,341

(a)

Brinker

International,

Inc

1,945,007‌

16,076

Carriage

Services,

Inc

347,242‌

49,825

(a)

Carrols

Restaurant

Group,

Inc

286,494‌

34,911

(a)

Century

Casinos,

Inc

152,910‌

66,698

Cheesecake

Factory

2,072,307‌

151,407

(a)

Chegg,

Inc

1,140,095‌

24,200

(a)

Chuy's

Holdings,

Inc

814,572‌

170,864

(a)

Coursera,

Inc

2,962,782‌

29,751

(b)

Cracker

Barrel

Old

Country

Store,

Inc

1,974,276‌

48,804

(a)

Dave

&

Buster's

Entertainment,

Inc

1,705,212‌

77,918

(a)

Denny's

Corp

671,653‌

21,123

Dine

Brands

Global

Inc.

1,041,153‌

37,969

(a)

Duolingo,

Inc

5,545,372‌

34,660

(a)

El

Pollo

Loco

Holdings,

Inc

289,411‌

45,139

(a)

European

Wax

Center,

Inc

666,703‌

111,166

(a)

Everi

Holdings,

Inc

1,199,481‌

29,737

(a)

First

Watch

Restaurant

Group,

Inc

496,905‌

110,935

(a)

Frontdoor,

Inc

3,209,350‌

41,544

(a)

Full

House

Resorts,

Inc

155,790‌

42,834

(a),(b)

Global

Business

Travel

Group

I

211,172‌

26,672

Golden

Entertainment,

Inc

836,434‌

4,665

Graham

Holdings

Co

2,699,729‌

109,569

(a)

Hilton

Grand

Vacations,

Inc

3,939,006‌

31,386

(a)

Inspired

Entertainment,

Inc

313,232‌

142,743

International

Game

Technology

plc

3,628,527‌

27,657

Jack

in

the

Box,

Inc

1,747,369‌

117,684

(b)

Krispy

Kreme,

Inc

1,521,654‌

7,827

(a)

Kura

Sushi

USA,

Inc

447,235‌

176,434

Laureate

Education,

Inc

2,494,777‌

60,234

(a)

Life

Time

Group

Holdings,

Inc

711,966‌

30,587

(a)

Lincoln

Educational

Services

Corp

261,519‌

47,271

(a)

Lindblad

Expeditions

Holdings,

Inc

294,026‌

17,268

Monarch

Casino

&

Resort,

Inc

1,039,361‌

61,478

(a)

Mondee

Holdings,

Inc

226,854‌

3,470

Nathan's

Famous,

Inc

227,146‌

75,833

(a)

Nerdy,

Inc

233,566‌

47,955

(a)

Noodles

&

Co

102,144‌

30,594

(a)

ONE

Group

Hospitality,

Inc

134,920‌

112,075

(a)

OneSpaWorld

Holdings

Ltd

1,174,546‌

44,293

Papa

John's

International,

Inc

2,879,931‌

90,411

Perdoceo

Education

Corp

1,635,535‌

48,141

(a)

PlayAGS,

Inc

343,727‌

60,974

(a)

Portillo's,

Inc

911,561‌

34,790

(a)

Potbelly

Corp

306,152‌

Small-Cap

Blend

Index

Fund

October

31,

2023

126

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

11,650

RCI

Hospitality

Holdings,

Inc

$

635,041‌

21,102

(a),(b)

Red

Robin

Gourmet

Burgers,

Inc

170,715‌

63,870

Red

Rock

Resorts,

Inc

2,526,058‌

115,191

(a)

Rover

Group,

Inc

742,982‌

85,336

(a)

Rush

Street

Interactive,

Inc

304,649‌

446,217

(a)

Sabre

Corp

1,561,759‌

121,758

(a)

Scientific

Games

Corp

(Class

A)

8,901,727‌

49,056

(a)

SeaWorld

Entertainment,

Inc

2,113,332‌

50,699

(a)

Shake

Shack,

Inc

2,841,172‌

96,308

(a)

Six

Flags

Entertainment

Corp

1,916,529‌

29,468

Strategic

Education,

Inc

2,425,511‌

56,713

(a)

Stride,

Inc

3,118,081‌

182,405

(a)

Super

Group

SGHC

Ltd

698,611‌

123,087

(a)

Sweetgreen,

Inc

1,271,489‌

40,018

(a)

Target

Hospitality

Corp

549,447‌

115,388

(a)

Udemy,

Inc

1,030,415‌

45,282

(a)

Universal

Technical

Institute,

Inc

395,312‌

70,865

(a)

WW

International,

Inc

554,164‌

33,042

(a)

Xponential

Fitness,

Inc

471,509‌

TOTAL

CONSUMER

SERVICES

95,944,558‌

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

-

0

.6

%

43,320

Andersons,

Inc

2,171,631‌

45,830

(a)

Chefs'

Warehouse,

Inc

872,145‌

51,841

(a)

HF

Foods

Group,

Inc

209,438‌

18,213

Ingles

Markets,

Inc

(Class

A)

1,461,047‌

12,852

Natural

Grocers

by

Vitamin

Cottage,

Inc

161,550‌

34,191

Pricesmart,

Inc

2,136,595‌

47,147

SpartanNash

Co

1,060,336‌

137,488

(a)

Sprouts

Farmers

Market,

Inc

5,777,246‌

78,946

(a)

United

Natural

Foods,

Inc

1,151,033‌

12,578

Village

Super

Market

(Class

A)

307,784‌

21,684

Weis

Markets,

Inc

1,411,628‌

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

&

RETAIL

16,720,433‌

ENERGY

-

8

.7

%

49,857

(a)

Amplify

Energy

Corp

346,506‌

24,079

Arch

Resources,

Inc

3,631,836‌

186,825

Archrock,

Inc

2,367,073‌

55,514

Ardmore

Shipping

Corp

737,781‌

20,060

(a),(b)

Atlas

Energy

Solutions,

Inc

365,293‌

96,397

Berry

Corp

804,915‌

283,387

(a)

Borr

Drilling

Ltd

1,737,162‌

31,730

(a)

Bristow

Group,

Inc

829,422‌

85,425

Cactus,

Inc

4,009,849‌

95,123

California

Resources

Corp

5,002,519‌

81,856

(a)

Callon

Petroleum

Co

3,057,322‌

16,544

(a)

Centrus

Energy

Corp

877,990‌

265,556

ChampionX

Corp

8,179,125‌

55,769

Chord

Energy

Corp

9,219,731‌

91,964

(b)

Civitas

Resources,

Inc

6,936,845‌

220,978

(a)

Clean

Energy

Fuels

Corp

771,213‌

210,419

(a)

CNX

Resources

Corp

4,570,301‌

118,132

(b)

Comstock

Resources,

Inc

1,488,463‌

44,149

CONSOL

Energy,

Inc

4,056,852‌

63,121

Core

Laboratories,

Inc

1,352,052‌

53,160

Crescent

Energy

Co

647,489‌

40,143

CVR

Energy,

Inc

1,314,683‌

88,049

Delek

US

Holdings,

Inc

2,320,091‌

67,614

(a)

Denbury,

Inc

6,010,208‌

179,786

DHT

Holdings,

Inc

1,999,220‌

138,644

(a)

Diamond

Offshore

Drilling,

Inc

1,720,572‌

23,103

(a)

DMC

Global,

Inc

437,802‌

127

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

42,742

Dorian

LPG

Ltd

$

1,366,462‌

45,388

(a)

Dril-Quip,

Inc

983,104‌

74,633

(a)

Earthstone

Energy,

Inc

1,579,981‌

14,101

(a),(b)

Empire

Petroleum

Corp

117,884‌

191,551

(a)

Encore

Energy

Corp

632,118‌

210,681

(a),(b)

Energy

Fuels,

Inc

1,687,555‌

20,539

(b)

Enviva,

Inc

74,351‌

582,842

Equitrans

Midstream

Corp

5,169,809‌

42,535

Evolution

Petroleum

Corp

273,500‌

25,892

Excelerate

Energy,

Inc

368,184‌

115,868

(a)

Expro

Group

Holdings

NV

1,824,921‌

37,425

FLEX

LNG

Ltd

1,142,959‌

13,082

(a)

Forum

Energy

Technologies,

Inc

284,795‌

329,245

(a),(b)

Gevo,

Inc

352,292‌

132,812

Golar

LNG

Ltd

2,978,973‌

33,979

Granite

Ridge

Resources,

Inc

209,311‌

78,270

(a)

Green

Plains,

Inc

2,299,573‌

14,744

(a)

Gulfport

Energy

Operating

Corp

1,822,506‌

30,364

(a),(b)

Hallador

Energy

Co

424,489‌

189,476

(a)

Helix

Energy

Solutions

Group,

Inc

1,856,865‌

129,075

Helmerich

&

Payne,

Inc

5,107,498‌

16,274

(b)

HighPeak

Energy,

Inc

288,213‌

54,446

International

Seaways,

Inc

2,618,308‌

22,378

(b)

Kinetik

Holdings,

Inc

793,076‌

16,602

(a),(b)

KLX

Energy

Services

Holdings,

Inc

170,669‌

21,034

(a)

Kodiak

Gas

Services,

Inc

361,574‌

607,227

(a)

Kosmos

Energy

Ltd

4,396,323‌

223,577

Liberty

Energy,

Inc

4,404,467‌

245,053

Magnolia

Oil

&

Gas

Corp

5,501,440‌

31,375

(a)

Mammoth

Energy

Services,

Inc

127,069‌

151,194

Matador

Resources

Co

9,327,158‌

197,772

Murphy

Oil

Corp

8,874,030‌

12,281

(a)

Nabors

Industries

Ltd

1,199,117‌

5,622

Nacco

Industries,

Inc

(Class

A)

194,240‌

100,749

(a)

Newpark

Resources,

Inc

697,183‌

43,724

(a),(b)

NextDecade

Corp

191,948‌

147,282

Noble

Corp

plc

6,876,597‌

276,270

Nordic

American

Tankers

Ltd

1,268,079‌

108,054

Northern

Oil

and

Gas,

Inc

4,142,790‌

133,229

(a)

Oceaneering

International,

Inc

2,929,706‌

85,619

(a)

Oil

States

International,

Inc

621,594‌

74,039

(a)

Overseas

Shipholding

Group,

Inc

362,051‌

73,665

(a)

Par

Pacific

Holdings,

Inc

2,417,685‌

469,965

Patterson-UTI

Energy,

Inc

5,968,555‌

151,436

PBF

Energy,

Inc

7,197,753‌

164,959

Peabody

Energy

Corp

3,891,383‌

365,203

Permian

Resources

Corp

5,321,008‌

927

(a),(b)

PrimeEnergy

Corp

99,115‌

31,670

(a),(b)

ProFrac

Holding

Corp

298,331‌

129,228

(a)

ProPetro

Holding

Corp

1,354,309‌

20,530

Ranger

Energy

Services,

Inc

238,353‌

19,486

(a)

Rex

American

Resources

Corp

740,663‌

12,563

Riley

Exploration

Permian,

Inc

397,619‌

166,187

(a),(b)

Ring

Energy,

Inc

289,165‌

111,463

RPC,

Inc

927,372‌

44,290

SandRidge

Energy,

Inc

701,996‌

64,803

Scorpio

Tankers,

Inc

3,638,688‌

32,964

(a)

SEACOR

Marine

Holdings,

Inc

456,881‌

67,882

(a)

Seadrill

Ltd

2,682,697‌

101,012

Select

Water

Solutions,

Inc

751,529‌

155,122

SFL

Corp

Ltd

1,684,625‌

23,306

(a)

SilverBow

Resources,

Inc

794,735‌

105,338

Sitio

Royalties

Corp

2,603,955‌

Small-Cap

Blend

Index

Fund

October

31,

2023

128

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

159,487

SM

Energy

Co

$

6,430,516‌

41,451

Solaris

Oilfield

Infrastructure,

Inc

383,007‌

144,428

(a)

Talos

Energy,

Inc

2,238,634‌

79,397

(a)

Teekay

Corp

558,161‌

32,029

Teekay

Tankers

Ltd

1,591,841‌

730,265

(a),(b)

Tellurian,

Inc

503,883‌

161,321

(a)

Tetra

Technologies,

Inc

764,662‌

63,023

(a)

Tidewater,

Inc

4,307,622‌

477,760

(a),(b)

Uranium

Energy

Corp

2,842,672‌

100,412

(a)

US

Silica

Holdings,

Inc

1,211,973‌

145,837

Vaalco

Energy,

Inc

651,891‌

81,444

(a)

Valaris

Ltd

5,378,562‌

5,797

(a)

Verde

Clean

Fuels,

Inc

24,347‌

91,121

(a),(b)

Vertex

Energy,

Inc

392,732‌

21,762

(a)

Vital

Energy,

Inc

1,088,970‌

33,898

Vitesse

Energy,

Inc

803,044‌

125,971

(a)

W&T

Offshore,

Inc

522,780‌

94,093

(a)

Weatherford

International

plc

8,759,117‌

82,870

World

Fuel

Services

Corp

1,533,095‌

TOTAL

ENERGY

243,139,003‌

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

5

.4

%

125,823

Acadia

Realty

Trust

1,801,785‌

94,817

Alexander

&

Baldwin,

Inc

1,498,109‌

2,930

Alexander's,

Inc

550,811‌

17,127

Alpine

Income

Property

Trust,

Inc

263,756‌

65,435

American

Assets

Trust,

Inc

1,161,471‌

201,187

(a)

Apartment

Investment

and

Management

Co

1,178,956‌

286,276

Apple

Hospitality

REIT,

Inc

4,488,808‌

84,728

Armada

Hoffler

Properties,

Inc

843,891‌

95,713

Braemar

Hotels

&

Resorts,

Inc

250,768‌

236,646

Brandywine

Realty

Trust

885,056‌

250,883

Broadstone

Net

Lease,

Inc

3,549,994‌

13,989

BRT

Apartments

Corp

227,041‌

131,499

CareTrust

REIT,

Inc

2,829,858‌

32,752

CBL

&

Associates

Properties,

Inc

678,949‌

20,439

Centerspace

992,927‌

58,989

Chatham

Lodging

Trust

545,648‌

54,938

City

Office

REIT,

Inc

209,314‌

13,183

Clipper

Realty,

Inc

62,619‌

33,167

Community

Healthcare

Trust,

Inc

950,898‌

151,146

Corporate

Office

Properties

Trust

3,446,129‌

29,362

CTO

Realty

Growth,

Inc

475,371‌

283,352

DiamondRock

Hospitality

Co

2,190,311‌

307,136

Diversified

Healthcare

Trust

635,772‌

221,942

Douglas

Emmett,

Inc

2,487,970‌

126,672

Easterly

Government

Properties,

Inc

1,362,991‌

181,558

Empire

State

Realty

Trust,

Inc

1,468,804‌

138,739

Equity

Commonwealth

2,627,717‌

204,726

Essential

Properties

Realty

Trust,

Inc

4,493,736‌

67,670

Farmland

Partners,

Inc

705,121‌

112,346

Four

Corners

Property

Trust,

Inc

2,392,970‌

58,998

Getty

Realty

Corp

1,570,527‌

53,876

Gladstone

Commercial

Corp

643,818‌

45,018

Gladstone

Land

Corp

614,946‌

83,263

Global

Medical

REIT,

Inc

721,058‌

260,610

Global

Net

Lease,

Inc

2,069,243‌

40,929

Hersha

Hospitality

Trust

406,016‌

188,383

Hudson

Pacific

Properties,

Inc

840,188‌

297,339

Independence

Realty

Trust,

Inc

3,684,030‌

36,455

Innovative

Industrial

Properties,

Inc

2,618,563‌

90,508

InvenTrust

Properties

Corp

2,271,751‌

148,104

JBG

SMITH

Properties

1,906,098‌

129

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)—continued

287,999

Kite

Realty

Group

Trust

$

6,140,139‌

384,270

Lexington

Realty

Trust

3,039,576‌

54,140

LTC

Properties,

Inc

1,711,365‌

282,806

Macerich

Co

2,748,874‌

106,908

Mack-Cali

Realty

Corp

1,431,498‌

55,536

National

Health

Investors,

Inc

2,779,021‌

90,514

NETSTREIT

Corp

1,289,824‌

38,352

NexPoint

Diversified

Real

Estate

Trust

302,214‌

30,782

NexPoint

Residential

Trust,

Inc

830,806‌

66,023

Office

Properties

Income

Trust

296,443‌

22,032

One

Liberty

Properties,

Inc

405,389‌

77,925

Orion

Office

REIT,

Inc

372,481‌

201,198

Outfront

Media,

Inc

1,963,692‌

254,434

Paramount

Group,

Inc

1,088,978‌

43,281

Peakstone

Realty

Trust

559,191‌

163,929

Pebblebrook

Hotel

Trust

1,955,673‌

155,707

Phillips

Edison

&

Co,

Inc

5,498,014‌

320,068

Physicians

Realty

Trust

3,475,938‌

171,598

Piedmont

Office

Realty

Trust,

Inc

894,026‌

56,633

Plymouth

Industrial

REIT,

Inc

1,129,262‌

24,761

Postal

Realty

Trust,

Inc

327,836‌

104,318

PotlatchDeltic

Corp

4,470,026‌

162,732

Retail

Opportunity

Investments

Corp

1,910,474‌

202,214

RLJ

Lodging

Trust

1,900,812‌

116,491

RPT

Realty

1,256,938‌

76,658

Ryman

Hospitality

Properties,

Inc

6,561,925‌

305,223

Sabra

Health

Care

REIT,

Inc

4,163,242‌

59,283

Safehold,

Inc

964,534‌

16,070

Saul

Centers,

Inc

558,754‌

219,520

Service

Properties

Trust

1,591,520‌

256,540

SITE

Centers

Corp

2,991,256‌

87,454

SL

Green

Realty

Corp

2,561,528‌

138,486

Summit

Hotel

Properties,

Inc

781,061‌

271,393

Sunstone

Hotel

Investors,

Inc

2,523,955‌

136,309

Tanger

Factory

Outlet

Centers,

Inc

3,073,768‌

109,104

Terreno

Realty

Corp

5,813,061‌

71,711

UMH

Properties,

Inc

990,329‌

322,414

Uniti

Group,

Inc

1,483,104‌

16,523

Universal

Health

Realty

Income

Trust

635,144‌

150,947

Urban

Edge

Properties

2,394,019‌

115,558

Washington

REIT

1,474,520‌

62,723

Whitestone

REIT

624,094‌

147,818

Xenia

Hotels

&

Resorts,

Inc

1,719,123‌

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

151,287,216‌

FINANCIAL

SERVICES

-

5

.7

%

51,959

(a),(b)

Acacia

Research

(Acacia

Technologies)

186,533‌

22,327

AFC

Gamma,

Inc

236,220‌

24,063

Alerus

Financial

Corp

416,531‌

28,214

(a),(b)

AlTi

Global,

Inc

176,902‌

22,880

A-Mark

Precious

Metals,

Inc

619,590‌

18,385

Angel

Oak

Mortgage

REIT,

Inc

153,882‌

187,654

Apollo

Commercial

Real

Estate

Finance,

Inc

1,869,034‌

245,394

Arbor

Realty

Trust,

Inc

3,094,418‌

68,600

Ares

Commercial

Real

Estate

Corp

629,062‌

61,593

ARMOUR

Residential

REIT,

Inc

897,410‌

81,665

Artisan

Partners

Asset

Management,

Inc

2,694,945‌

28,081

(a)

AssetMark

Financial

Holdings,

Inc

671,417‌

6,149

(a)

Atlanticus

Holdings

Corp

179,920‌

51,839

(a)

Avantax,

Inc

1,337,965‌

197,536

(a)

AvidXchange

Holdings,

Inc

1,706,711‌

24,979

(b)

B

Riley

Financial,

Inc

904,490‌

82,395

(a),(b)

Bakkt

Holdings,

Inc

83,219‌

Small-Cap

Blend

Index

Fund

October

31,

2023

130

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

36,669

Banco

Latinoamericano

de

Exportaciones

S.A.

(Class

E)

$

827,986‌

408,389

BGC

Group,

Inc

2,397,243‌

227,785

Blackstone

Mortgage

Trust,

Inc

4,544,311‌

67,529

Bread

Financial

Holdings,

Inc

1,825,309‌

42,705

Brightsphere

Investment

Group,

Inc

668,760‌

167,543

BrightSpire

Capital,

Inc

948,293‌

94,210

(a)

Cannae

Holdings,

Inc

1,540,333‌

81,678

(a)

Cantaloupe,

Inc

537,441‌

17,461

Cass

Information

Systems,

Inc

660,200‌

21,379

Chicago

Atlantic

Real

Estate

Finance,

Inc

301,230‌

315,405

Chimera

Investment

Corp

1,513,944‌

116,295

Claros

Mortgage

Trust,

Inc

1,212,957‌

35,080

Cohen

&

Steers,

Inc

1,832,579‌

84,729

Compass

Diversified

Trust

1,455,644‌

13,986

(a),(b)

Consumer

Portfolio

Services,

Inc

129,371‌

3,880

Diamond

Hill

Investment

Group,

Inc

609,548‌

32,594

(a)

Donnelley

Financial

Solutions,

Inc

1,774,091‌

70,225

Dynex

Capital,

Inc

705,059‌

84,429

Ellington

Financial,

Inc

1,015,681‌

39,408

Enact

Holdings,

Inc

1,086,084‌

31,275

(a)

Encore

Capital

Group,

Inc

1,178,442‌

39,782

(a)

Enova

International,

Inc

1,586,506‌

139,921

Essent

Group

Ltd

6,609,868‌

87,081

EVERTEC,

Inc

2,767,434‌

12,214

Federal

Agricultural

Mortgage

Corp

(FAMC)

1,814,512‌

65,984

(a)

Finance

Of

America

Cos,

Inc

68,623‌

49,807

FirstCash

Holdings,

Inc

5,424,978‌

127,235

(a)

Flywire

Corp

3,421,349‌

151,090

(a)

Forge

Global

Holdings,

Inc

383,769‌

111,436

Franklin

BSP

Realty

Trust,

Inc

1,405,208‌

55,324

(b)

GCM

Grosvenor,

Inc

445,358‌

75,993

Granite

Point

Mortgage

Trust,

Inc

319,171‌

65,379

(a)

Green

Dot

Corp

730,937‌

48,021

Hamilton

Lane,

Inc

4,039,527‌

134,566

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc

2,306,461‌

32,706

(a)

I3

Verticals,

Inc

613,238‌

42,618

(a)

International

Money

Express,

Inc

680,183‌

55,217

Invesco

Mortgage

Capital,

Inc

377,132‌

109,180

Jackson

Financial,

Inc

4,007,998‌

75,821

KKR

Real

Estate

Finance

Trust,

Inc

791,571‌

145,853

Ladder

Capital

Corp

1,474,574‌

132,956

(a)

LendingClub

Corp

690,042‌

15,171

(a)

LendingTree,

Inc

200,712‌

42,753

MarketWise,

Inc

92,774‌

650,274

(a)

Marqeta,

Inc

3,361,917‌

21,476

Merchants

Bancorp

641,918‌

138,737

MFA

Financial,

Inc

1,233,372‌

89,847

Moelis

&

Co

3,741,229‌

86,545

(a)

Mr

Cooper

Group,

Inc

4,892,389‌

114,683

Navient

Corp

1,824,607‌

19,244

Nelnet,

Inc

(Class

A)

1,632,084‌

46,286

(a),(b)

NerdWallet,

Inc

498,963‌

114,970

New

York

Mortgage

Trust,

Inc

895,616‌

30,932

(b)

NewtekOne,

Inc

429,027‌

10,916

Nexpoint

Real

Estate

Finance,

Inc

161,884‌

108,947

(a)

NMI

Holdings,

Inc

2,979,700‌

8,575

(a),(b)

Ocwen

Financial

Corp

206,143‌

126,321

(a)

Open

Lending

Corp

756,663‌

19,207

(a)

OppFi,

Inc

42,832‌

59,624

Orchid

Island

Capital,

Inc

374,439‌

57,144

P10,

Inc

538,296‌

258,545

(a)

Pagseguro

Digital

Ltd

1,825,328‌

72,750

Patria

Investments

Ltd

937,747‌

131

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FINANCIAL

SERVICES—continued

344,726

(a)

Payoneer

Global,

Inc

$

1,995,964‌

43,803

(a)

Paysafe

Ltd

425,765‌

43,694

(a),(b)

Paysign

Inc

80,397‌

34,281

PennyMac

Financial

Services,

Inc

2,303,683‌

114,743

PennyMac

Mortgage

Investment

Trust

1,451,499‌

56,705

Perella

Weinberg

Partners

556,276‌

23,309

Piper

Jaffray

Cos

3,259,764‌

31,220

PJT

Partners,

Inc

2,446,399‌

52,853

(a)

PRA

Group,

Inc

650,620‌

25,156

(a)

Priority

Technology

Holdings

Inc

94,335‌

61,810

(a)

PROG

Holdings,

Inc

1,692,976‌

208,070

Radian

Group,

Inc

5,272,494‌

211,943

Ready

Capital

Corp

1,998,622‌

146,876

Redwood

Trust,

Inc

922,381‌

9,481

Regional

Management

Corp

235,698‌

172,829

(a)

Remitly

Global,

Inc

4,654,285‌

101,738

(a)

Repay

Holdings

Corp

609,411‌

28,618

Sculptor

Capital

Management,

Inc

362,018‌

15,036

(a)

Security

National

Financial

Corp

103,899‌

13,835

Silvercrest

Asset

Management

Group,

Inc

245,571‌

22,951

(a)

Star

Holdings

262,789‌

72,708

StepStone

Group,

Inc

2,057,636‌

385,941

(a)

StoneCo

Ltd

3,826,605‌

24,153

(a)

StoneX

Group,

Inc

2,302,264‌

4,871

(a),(b)

SWK

Holdings

Corp

78,618‌

85,847

TPG

RE

Finance

Trust,

Inc

473,017‌

131,098

Two

Harbors

Investment

Corp

1,522,048‌

94,768

(a),(b)

Upstart

Holdings,

Inc

2,277,275‌

1,276

(b)

Value

Line,

Inc

52,252‌

13,428

(a),(b)

Velocity

Financial,

Inc

155,093‌

36,255

Victory

Capital

Holdings,

Inc

1,068,072‌

9,081

Virtus

Investment

Partners,

Inc

1,672,993‌

42,826

Walker

&

Dunlop,

Inc

2,775,125‌

25,565

Waterstone

Financial,

Inc

276,102‌

184,169

(b)

WisdomTree,

Inc

1,141,848‌

5,301

(a),(b)

World

Acceptance

Corp

522,785‌

TOTAL

FINANCIAL

SERVICES

159,675,413‌

FOOD,

BEVERAGE

&

TOBACCO

-

1

.8

%

8,749

Alico,

Inc

213,826‌

97,662

B&G

Foods,

Inc

(Class

A)

788,132‌

79,731

(a),(b)

Beyond

Meat,

Inc

475,994‌

50,483

(a),(b)

BRC,

Inc

146,401‌

22,401

Calavo

Growers,

Inc

567,641‌

51,313

Cal-Maine

Foods,

Inc

2,324,992‌

6,308

Coca-Cola

Consolidated

Inc

4,014,474‌

94,797

Dole

plc

1,082,582‌

56,878

(a)

Duckhorn

Portfolio,

Inc

593,238‌

6,332

(a),(b)

Forafric

Global

plc

69,905‌

44,645

Fresh

Del

Monte

Produce,

Inc

1,116,125‌

121,403

(a)

Hain

Celestial

Group,

Inc

1,341,503‌

176,976

(a)

Hostess

Brands,

Inc

5,910,998‌

19,732

J&J

Snack

Foods

Corp

3,090,229‌

11,688

John

B

Sanfilippo

&

Son,

Inc

1,195,215‌

25,714

Lancaster

Colony

Corp

4,350,037‌

23,415

(b)

Limoneira

Co

334,600‌

21,228

MGP

Ingredients,

Inc

2,009,443‌

63,799

(a)

Mission

Produce,

Inc

600,349‌

31,422

(a)

National

Beverage

Corp

1,457,352‌

210,504

Primo

Water

Corp

2,749,182‌

7,543

(a)

Seneca

Foods

Corp

412,225‌

121,838

(a)

Simply

Good

Foods

Co

4,543,339‌

64,749

(a)

Sovos

Brands,

Inc

1,405,701‌

Small-Cap

Blend

Index

Fund

October

31,

2023

132

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

129,933

(a)

SunOpta,

Inc

$

498,943‌

69,432

(a)

TreeHouse

Foods,

Inc

2,894,620‌

22,057

Turning

Point

Brands,

Inc

442,243‌

30,592

Universal

Corp

1,376,640‌

96,666

Utz

Brands,

Inc

1,178,359‌

194,816

Vector

Group

Ltd

2,002,709‌

38,670

(a)

Vita

Coco

Co,

Inc

1,047,957‌

37,541

(a)

Vital

Farms,

Inc

415,203‌

37,505

(a),(b)

Westrock

Coffee

Co

309,041‌

34,161

(a)

Zevia

PBC

66,272‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

51,025,470‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

6

.0

%

342,623

(a),(b)

23andMe

Holding

Co

290,236‌

83,153

(a)

Accolade,

Inc

540,495‌

125,546

(a),(b)

Accuray,

Inc

331,441‌

129,135

(a)

AdaptHealth

Corp

946,560‌

20,910

(a)

Addus

HomeCare

Corp

1,649,799‌

38,179

(a)

Agiliti,

Inc

214,948‌

17,003

(a),(b)

AirSculpt

Technologies,

Inc

102,018‌

108,331

(a)

Alignment

Healthcare,

Inc

745,317‌

140,773

(a)

Allscripts

Healthcare

Solutions,

Inc

1,856,796‌

104,285

(a)

Alphatec

Holdings,

Inc

957,336‌

337,373

(a)

American

Well

Corp

394,726‌

52,515

(a)

AMN

Healthcare

Services,

Inc

3,983,788‌

51,827

(a)

Angiodynamics,

Inc

321,327‌

55,385

(a)

Apollo

Medical

Holdings,

Inc

1,728,566‌

62,786

(a)

AtriCure,

Inc

2,174,907‌

1,897

Atrion

Corp

648,736‌

62,533

(a)

Avanos

Medical,

Inc

1,148,106‌

60,420

(a)

Aveanna

Healthcare

Holdings,

Inc

83,380‌

54,514

(a)

Axogen,

Inc

204,973‌

64,561

(a)

Axonics,

Inc

3,306,169‌

35,507

(a),(b)

Beyond

Air,

Inc

82,731‌

238,446

(a)

Brookdale

Senior

Living,

Inc

932,324‌

207,390

(a),(b)

Butterfly

Network,

Inc

175,639‌

59,508

(a),(b)

CareMax,

Inc

119,016‌

33,263

(a)

Castle

Biosciences,

Inc

519,568‌

237,114

(a)

Cerus

Corp

331,960‌

31,337

(a),(b)

ClearPoint

Neuro,

Inc

172,354‌

162,514

(a)

Community

Health

Systems,

Inc

347,780‌

18,280

(a)

Computer

Programs

&

Systems,

Inc

257,565‌

41,244

Conmed

Corp

4,019,640‌

11,920

(a)

Corvel

Corp

2,311,765‌

46,184

(a)

Cross

Country

Healthcare,

Inc

1,069,621‌

54,426

(a)

CryoLife,

Inc

693,387‌

22,042

(a),(b)

Cutera,

Inc

68,551‌

15,323

(a),(b)

CVRx,

Inc

205,022‌

61,038

(a)

Definitive

Healthcare

Corp

351,579‌

97,534

(a)

DocGo,

Inc

579,352‌

73,366

Embecta

Corp

1,109,294‌

68,394

(a)

Enhabit,

Inc

504,064‌

72,618

Ensign

Group,

Inc

7,014,899‌

145,904

(a)

Evolent

Health,

Inc

3,564,435‌

170,385

(a)

Figs,

Inc

938,821‌

27,932

(a)

Fulgent

Genetics,

Inc

668,692‌

62,620

(a)

Glaukos

Corp

4,270,684‌

147,965

(a)

Guardant

Health,

Inc

3,829,334‌

66,055

(a)

Haemonetics

Corp

5,629,868‌

76,936

(a)

Health

Catalyst,

Inc

576,251‌

111,843

(a)

HealthEquity,

Inc

8,016,906‌

32,525

HealthStream,

Inc

826,135‌

164,376

(a)

Hims

&

Hers

Health,

Inc

982,968‌

133

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

70,695

(a)

Inari

Medical,

Inc

$

4,291,893‌

25,023

(a)

InfuSystem

Holdings,

Inc

239,720‌

101,415

(a)

Inmode

Ltd

1,937,026‌

21,483

(a)

Innovage

Holding

Corp

116,653‌

32,057

(a)

Inogen,

Inc

143,295‌

44,104

(a)

Integer

Holdings

Corp

3,579,922‌

229,226

(a),(b)

Invitae

Corp

138,842‌

9,882

iRadimed

Corp

402,593‌

40,333

(a)

iRhythm

Technologies,

Inc

3,166,947‌

20,600

(a)

Joint

Corp

160,886‌

90,395

(a)

Lantheus

Holdings,

Inc

5,839,517‌

26,168

LeMaitre

Vascular,

Inc

1,271,241‌

144,121

(a),(b)

LifeStance

Health

Group,

Inc

840,225‌

72,716

(a)

LivaNova

plc

3,566,720‌

75,200

(a)

Merit

Medical

Systems,

Inc

5,169,248‌

7,010

Mesa

Laboratories,

Inc

657,748‌

17,709

(a)

ModivCare,

Inc

748,028‌

529,041

(a),(b)

Multiplan

Corp

894,079‌

63,975

(a),(b)

Nano-X

Imaging

Ltd

323,074‌

16,741

National

Healthcare

Corp

1,127,674‌

18,823

National

Research

Corp

795,460‌

288,147

(a)

Neogen

Corp

4,290,509‌

165,655

(a)

NeoGenomics,

Inc

2,322,483‌

47,225

(a)

Nevro

Corp

681,457‌

74,036

(a)

NextGen

Healthcare,

Inc

1,770,941‌

59,202

(a)

Omnicell,

Inc

2,104,039‌

511,511

(a),(b)

Opko

Health,

Inc

639,389‌

21,914

(a)

OptimizeRx

Corp

176,627‌

225,732

(a)

Option

Care

Health,

Inc

6,259,548‌

99,167

(a)

OraSure

Technologies,

Inc

511,702‌

5,810

(a)

Orchestra

BioMed

Holdings,

Inc

27,249‌

47,704

(a)

Orthofix

Medical,

Inc

526,652‌

20,885

(a)

OrthoPediatrics

Corp

510,847‌

65,683

(a)

Outset

Medical,

Inc

232,518‌

95,837

(a)

Owens

&

Minor,

Inc

1,373,344‌

55,335

(a)

P3

Health

Partners,

Inc

79,129‌

61,370

(a)

Paragon

28,

Inc

529,623‌

112,911

Patterson

Cos,

Inc

3,439,269‌

112,512

(a)

Pediatrix

Medical

Group,

Inc

1,289,388‌

40,466

(a)

Pennant

Group,

Inc

439,865‌

34,340

(a)

PetIQ,

Inc

644,562‌

69,149

(a)

Phreesia,

Inc

944,575‌

145,951

(a)

Privia

Health

Group,

Inc

3,067,890‌

49,020

(a)

PROCEPT

BioRobotics

Corp

1,313,246‌

103,962

(a)

Progyny,

Inc

3,208,267‌

47,757

(a)

Pulmonx

Corp

419,784‌

22,441

(a),(b)

Pulse

Biosciences,

Inc

101,433‌

55,552

(a)

Quipt

Home

Medical

Corp

262,761‌

80,316

(a)

RadNet,

Inc

2,165,319‌

47,821

(a),(b)

Repro-Med

Systems,

Inc

108,554‌

36,806

(a)

RxSight,

Inc

814,885‌

5,089

(a),(b)

Sanara

Medtech,

Inc

139,897‌

73,054

(a)

Schrodinger,

Inc

1,585,272‌

140,091

Select

Medical

Holdings

Corp

3,184,268‌

6,707

(a)

Semler

Scientific,

Inc

195,643‌

404,354

(a)

Sharecare,

Inc

424,572‌

46,870

(a)

SI-BONE,

Inc

797,259‌

51,255

(a)

Silk

Road

Medical,

Inc

384,925‌

20,907

Simulations

Plus,

Inc

737,390‌

63,910

(a)

STAAR

Surgical

Co

2,672,716‌

91,708

(a)

Surgery

Partners,

Inc

2,121,206‌

19,020

(a)

SurModics,

Inc

560,329‌

31,396

(a)

Tactile

Systems

Technology,

Inc

342,844‌

Small-Cap

Blend

Index

Fund

October

31,

2023

134

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

22,148

(a)

Tela

Bio,

Inc

$

129,344‌

41,257

(a)

TransMedics

Group,

Inc

1,546,312‌

61,173

(a)

Treace

Medical

Concepts,

Inc

613,565‌

9,505

(a)

UFP

Technologies,

Inc

1,482,020‌

19,725

US

Physical

Therapy,

Inc

1,659,070‌

4,768

Utah

Medical

Products,

Inc

379,151‌

49,039

(a)

Varex

Imaging

Corp

885,154‌

98,411

(a)

Vicarious

Surgical,

Inc

40,595‌

47,009

(a)

Viemed

Healthcare,

Inc

296,627‌

34,878

(a)

Zimvie,

Inc

246,239‌

28,246

(a),(b)

Zynex,

Inc

250,824‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

168,141,697‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1

.3

%

113,730

(a),(b)

Beauty

Health

Co

460,607‌

176,757

(a)

BellRing

Brands,

Inc

7,729,584‌

13,300

(a)

Central

Garden

&

Pet

Co

580,279‌

53,202

(a)

Central

Garden

and

Pet

Co

(Class

A)

2,111,587‌

68,153

Edgewell

Personal

Care

Co

2,378,540‌

71,022

(a)

elf

Beauty,

Inc

6,578,768‌

95,174

Energizer

Holdings,

Inc

3,005,595‌

132,163

(a)

Herbalife

Ltd

1,883,323‌

24,649

Inter

Parfums,

Inc

3,133,134‌

14,608

Medifast,

Inc

1,010,289‌

18,571

(a)

Nature's

Sunshine

Products,

Inc

332,421‌

67,415

Nu

Skin

Enterprises,

Inc

(Class

A)

1,280,211‌

6,480

Oil-Dri

Corp

of

America

371,174‌

14,674

(a)

USANA

Health

Sciences,

Inc

668,401‌

26,105

(a),(b)

Waldencast

plc

200,486‌

17,878

WD-40

Co

3,779,409‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

35,503,808‌

INSURANCE

-

2

.0

%

59,995

(a)

AMBAC

Financial

Group,

Inc

727,739‌

103,069

American

Equity

Investment

Life

Holding

Co

5,458,534‌

24,845

Amerisafe,

Inc

1,266,350‌

40,013

Argo

Group

International

Holdings

Ltd

1,193,988‌

78,595

(a)

BRP

Group,

Inc

1,644,993‌

153,111

CNO

Financial

Group,

Inc

3,549,113‌

14,388

Crawford

&

Co

131,650‌

21,294

Donegal

Group,

Inc

(Class

A)

300,671‌

34,162

(a)

eHealth,

Inc

293,110‌

33,848

Employers

Holdings,

Inc

1,286,224‌

15,923

(a)

Enstar

Group

Ltd

3,773,273‌

24,506

F&G

Annuities

&

Life,

Inc

752,089‌

20,390

(a)

Fidelis

Insurance

Holdings

Ltd

288,315‌

627,889

(a)

Genworth

Financial,

Inc

(Class

A)

3,761,055‌

5,436

(a),(b)

GoHealth,

Inc

76,322‌

27,891

(a)

Goosehead

Insurance,

Inc

1,809,289‌

36,612

(a)

Greenlight

Capital

Re

Ltd

(Class

A)

408,224‌

9,033

(b)

HCI

Group,

Inc

532,676‌

15,753

(a),(b)

Hippo

Holdings,

Inc

113,422‌

54,712

Horace

Mann

Educators

Corp

1,736,012‌

1,606

Investors

Title

Co

230,959‌

48,376

James

River

Group

Holdings

Ltd

665,170‌

12,374

(a),(b)

Kingsway

Financial

Services,

Inc

95,527‌

69,511

(a),(b)

Lemonade,

Inc

760,450‌

115,265

(a),(b)

Maiden

Holdings

Ltd

189,035‌

67,349

(a)

MBIA,

Inc

463,361‌

36,239

Mercury

General

Corp

1,119,060‌

3,051

National

Western

Life

Group,

Inc

1,461,124‌

11,769

(a)

NI

Holdings,

Inc

149,349‌

194,405

(a)

Oscar

Health,

Inc

995,354‌

135

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

32,188

(a)

Palomar

Holdings,

Inc

$

1,611,975‌

73,221

ProAssurance

Corp

1,244,757‌

18,816

Safety

Insurance

Group,

Inc

1,414,399‌

79,785

Selective

Insurance

Group,

Inc

8,306,416‌

185,776

(a)

Selectquote,

Inc

245,224‌

118,247

(a)

SiriusPoint

Ltd

1,164,733‌

31,980

(a)

Skyward

Specialty

Insurance

Group,

Inc

900,237‌

36,378

Stewart

Information

Services

Corp

1,588,627‌

33,806

Tiptree,

Inc

510,809‌

53,206

(a),(b)

Trupanion,

Inc

1,096,044‌

28,478

United

Fire

Group,

Inc

573,547‌

26,792

(a),(b)

United

Insurance

Holdings

Corp

200,672‌

36,061

Universal

Insurance

Holdings,

Inc

564,715‌

TOTAL

INSURANCE

54,654,593‌

MATERIALS

-

4

.4

%

52,114

(a),(b)

5E

Advanced

Materials,

Inc

117,257‌

35,671

AdvanSix,

Inc

982,736‌

172,056

(a)

Allegheny

Technologies,

Inc

6,498,555‌

16,445

Alpha

Metallurgical

Resources,

Inc

3,617,242‌

38,046

American

Vanguard

Corp

356,111‌

61,993

(a)

Aspen

Aerogels,

Inc

478,586‌

118,978

Avient

Corp

3,762,084‌

42,585

Balchem

Corp

4,950,080‌

73,337

Cabot

Corp

4,875,444‌

22,143

(b)

Caledonia

Mining

Corp

plc

245,123‌

64,059

Carpenter

Technology

Corp

4,017,780‌

74,026

(a)

Century

Aluminum

Co

489,312‌

9,816

Chase

Corp

1,247,221‌

22,616

(a)

Clearwater

Paper

Corp

764,647‌

432,692

(a)

Coeur

Mining,

Inc

1,086,057‌

155,963

Commercial

Metals

Co

6,595,675‌

46,667

Compass

Minerals

International,

Inc

1,149,875‌

169,688

(a)

Constellium

SE

2,681,070‌

5,048

(a),(b)

Contango

ORE,

Inc

86,068‌

10,158

(a)

Core

Molding

Technologies,

Inc

259,842‌

71,181

(a)

Dakota

Gold

Corp

205,001‌

126,852

(a),(b)

Danimer

Scientific,

Inc

181,398‌

125,316

(a)

Ecovyst,

Inc

1,152,907‌

35,238

FutureFuel

Corp

230,809‌

60,484

(a)

Glatfelter

Corp

104,637‌

32,487

Greif,

Inc

(Class

A)

2,062,925‌

5,612

Greif,

Inc

(Class

B)

359,505‌

72,378

H.B.

Fuller

Co

4,787,805‌

25,598

Hawkins,

Inc

1,470,093‌

17,167

Haynes

International,

Inc

738,610‌

811,417

Hecla

Mining

Co

3,302,467‌

262,037

(a),(b)

i-80

Gold

Corp

366,852‌

49,392

(a)

Ingevity

Corp

1,989,510‌

32,920

Innospec,

Inc

3,226,160‌

15,133

(a)

Intrepid

Potash,

Inc

300,995‌

75,603

(a)

Ivanhoe

Electric,

Inc

774,175‌

20,890

Kaiser

Aluminum

Corp

1,186,552‌

74,257

(a)

Knife

River

Corp

3,736,612‌

27,522

Koppers

Holdings,

Inc

1,006,480‌

30,976

Kronos

Worldwide,

Inc

213,734‌

239,215

(a),(b)

Livent

Corp

3,490,147‌

67,580

(a)

LSB

Industries,

Inc

615,654‌

27,025

Materion

Corp

2,620,885‌

42,432

Minerals

Technologies,

Inc

2,293,874‌

49,769

Myers

Industries,

Inc

834,626‌

316,804

(a)

Novagold

Resources,

Inc

1,115,150‌

206,853

(a)

O-I

Glass,

Inc

3,195,879‌

Small-Cap

Blend

Index

Fund

October

31,

2023

136

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

13,023

Olympic

Steel,

Inc

$

661,178‌

136,132

(a),(b)

Origin

Materials,

Inc

134,566‌

73,571

Orion

S.A.

1,493,491‌

47,263

Pactiv

Evergreen,

Inc

407,407‌

210,291

(a)

Perimeter

Solutions

S.A.

672,931‌

51,867

(a),(b)

Perpetua

Resources

Corp

187,240‌

24,661

(a)

Piedmont

Lithium,

Inc

677,438‌

42,861

(a)

PolyMet

Mining

Corp

90,008‌

154,758

(a),(b)

PureCycle

Technologies,

Inc

688,673‌

18,560

Quaker

Chemical

Corp

2,667,443‌

31,252

Ramaco

Resources,

Inc

368,149‌

6,249

Ramaco

Resources,

Inc

78,175‌

59,396

(a)

Ranpak

Holdings

Corp

187,691‌

83,699

(a)

Rayonier

Advanced

Materials,

Inc

231,846‌

32,360

Ryerson

Holding

Corp

940,058‌

34,222

Schnitzer

Steel

Industries,

Inc

(Class

A)

777,182‌

73,697

Schweitzer-Mauduit

International,

Inc

965,431‌

55,803

Sensient

Technologies

Corp

3,148,405‌

28,624

Stepan

Co

2,141,075‌

159,149

(a)

Summit

Materials,

Inc

5,236,002‌

105,905

SunCoke

Energy,

Inc

1,007,157‌

48,554

Sylvamo

Corp

2,150,942‌

58,512

(a)

TimkenSteel

Corp

1,189,549‌

45,315

Tredegar

Corp

203,011‌

56,113

Trimas

Corp

1,358,496‌

45,233

Trinseo

plc

279,992‌

158,428

Tronox

Holdings

plc

1,693,595‌

2,821

United

States

Lime

&

Minerals,

Inc

558,530‌

3,773

Valhi,

Inc

42,107‌

67,853

Warrior

Met

Coal,

Inc

3,306,477‌

39,989

Worthington

Industries,

Inc

2,464,122‌

TOTAL

MATERIALS

121,832,574‌

MEDIA

&

ENTERTAINMENT

-

1

.8

%

119,692

(a)

Advantage

Solutions,

Inc

275,292‌

43,573

(a)

AMC

Networks,

Inc

514,161‌

14,745

(a)

Atlanta

Braves

Holdings,

Inc

558,983‌

61,355

(a)

Atlanta

Braves

Holdings,

Inc

2,133,927‌

30,157

(a)

Boston

Omaha

Corp

429,134‌

131,456

(a)

Bumble,

Inc

1,766,769‌

36,340

(a),(b)

Cardlytics,

Inc

450,253‌

129,112

(a)

Cargurus,

Inc

2,224,600‌

89,483

(a)

Cars.com,

Inc

1,362,826‌

146,091

(a)

Cinemark

Holdings,

Inc

2,409,041‌

514,235

(a)

Clear

Channel

Outdoor

Holdings,

Inc

565,658‌

1,684

(a)

Daily

Journal

Corp

489,859‌

59,741

(a)

DHI

Group,

Inc

163,690‌

19,910

(a),(b)

Emerald

Holding,

Inc

99,152‌

78,289

Entravision

Communications

Corp

(Class

A)

280,275‌

98,239

(a)

Eventbrite,

Inc

813,419‌

27,255

(a)

EverQuote,

Inc

234,120‌

77,470

(a)

EW

Scripps

Co

(Class

A)

423,761‌

382,380

(a),(b)

fuboTV,

Inc

925,360‌

12,214

(a)

Gambling.com

Group

Ltd

158,293‌

167,034

(a)

Gannett

Co,

Inc

390,860‌

111,923

Gray

Television,

Inc

729,738‌

54,843

(a),(b)

Grindr,

Inc

326,316‌

147,651

(a)

iHeartMedia,

Inc

346,980‌

60,717

(a)

IMAX

Corp

1,105,657‌

64,832

(a)

Integral

Ad

Science

Holding

Corp

744,271‌

57,467

John

Wiley

&

Sons,

Inc

(Class

A)

1,739,526‌

78,321

(a),(b)

Lions

Gate

Entertainment

Corp

(Class

A)

615,603‌

159,743

(a)

Lions

Gate

Entertainment

Corp

(Class

B)

1,191,683‌

137

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

49,397

(a)

Loop

Media,

Inc

$

14,780‌

58,278

(a)

Madison

Square

Garden

Entertainment

Corp

1,776,313‌

179,136

(a)

Magnite,

Inc

1,189,463‌

33,377

(b)

Marcus

Corp

518,679‌

30,198

(a)

MediaAlpha,

Inc

310,435‌

197,881

(a)

Nextdoor

Holdings,

Inc

360,143‌

55,980

(a)

Outbrain,

Inc

239,035‌

110,418

(a)

Playstudios,

Inc

312,483‌

52,076

(a)

PubMatic,

Inc

586,896‌

72,007

(a)

QuinStreet,

Inc

814,399‌

28,672

(a),(b)

Reservoir

Media,

Inc

161,423‌

36,853

Scholastic

Corp

1,359,876‌

32,860

Shutterstock,

Inc

1,336,745‌

44,646

(b)

Sinclair,

Inc

485,302‌

33,548

(a)

Sphere

Entertainment

Co

1,104,065‌

107,400

(a)

Stagwell,

Inc

442,488‌

34,112

(a),(b)

System1,

Inc

39,570‌

34,289

(a)

TechTarget,

Inc

863,397‌

265,903

TEGNA,

Inc

3,858,252‌

40,670

(a)

Thryv

Holdings,

Inc

708,878‌

15,132

Townsquare

Media,

Inc

130,135‌

129,623

(a)

TrueCar,

Inc

237,210‌

11,707

(a)

Urban

One,

Inc

63,569‌

14,859

(a)

Urban

One,

Inc

78,901‌

201,481

(a)

Vimeo,

Inc

620,561‌

34,551

(a)

Vivid

Seats,

Inc

203,160‌

62,325

(a)

WideOpenWest,

Inc

438,768‌

90,709

(a)

Yelp,

Inc

3,827,013‌

62,575

(a)

Ziff

Davis,

Inc

3,783,284‌

92,415

(a)

ZipRecruiter,

Inc

984,220‌

TOTAL

MEDIA

&

ENTERTAINMENT

50,318,650‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

8

.3

%

68,049

(a),(b)

2seventy

bio,

Inc

166,040‌

52,932

(a)

4D

Molecular

Therapeutics,

Inc

568,490‌

78,176

(a)

89bio,

Inc

578,502‌

20,225

(a)

Aadi

Bioscience,

Inc

88,585‌

158,741

(a)

Acadia

Pharmaceuticals,

Inc

3,582,784‌

44,936

(a),(b)

ACELYRIN,

Inc

457,673‌

94,576

(a)

Aclaris

Therapeutics,

Inc

470,988‌

11,821

(a)

Acrivon

Therapeutics,

Inc

61,942‌

35,556

(a),(b)

Actinium

Pharmaceuticals,

Inc

198,402‌

155,076

(a)

Adaptive

Biotechnologies

Corp

688,537‌

39,462

(a),(b)

Adicet

Bio,

Inc

52,090‌

277,886

(a)

ADMA

Biologics,

Inc

939,255‌

12,452

(a)

Aerovate

Therapeutics,

Inc

132,116‌

466,802

(a)

Agenus,

Inc

373,442‌

75,089

(a)

Agios

Pharmaceuticals,

Inc

1,577,620‌

67,303

(a)

Akero

Therapeutics,

Inc

802,252‌

21,951

(a),(b)

Akoya

Biosciences,

Inc

76,828‌

62,944

(a)

Aldeyra

Therapeutics,

Inc

107,634‌

86,500

(a)

Alector,

Inc

449,800‌

221,150

(a)

Alkermes

plc

5,349,618‌

90,402

(a)

Allakos,

Inc

172,668‌

108,997

(a),(b)

Allogene

Therapeutics,

Inc

307,372‌

57,580

(a),(b)

Allovir,

Inc

86,370‌

43,250

(a)

Alpine

Immune

Sciences,

Inc

442,880‌

67,327

(a)

Altimmune,

Inc

162,258‌

30,055

(a),(b)

ALX

Oncology

Holdings,

Inc

216,396‌

378,063

(a)

Amicus

Therapeutics,

Inc

4,147,351‌

160,344

(a)

Amneal

Pharmaceuticals,

Inc

620,531‌

50,958

(a)

Amphastar

Pharmaceuticals,

Inc

2,306,869‌

68,570

(a)

Amylyx

Pharmaceuticals,

Inc

1,118,377‌

Small-Cap

Blend

Index

Fund

October

31,

2023

138

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

23,713

(a)

AnaptysBio,

Inc

$

386,759‌

91,173

(a),(b)

Anavex

Life

Sciences

Corp

508,745‌

19,572

(a)

ANI

Pharmaceuticals,

Inc

1,208,375‌

20,311

(a)

Anika

Therapeutics,

Inc

396,064‌

62,371

(a)

Annexon,

Inc

141,582‌

17,646

(a)

Apogee

Therapeutics,

Inc

303,158‌

169,888

(a),(b)

Arbutus

Biopharma

Corp

310,895‌

49,009

(a)

Arcellx,

Inc

1,727,567‌

30,817

(a)

Arcturus

Therapeutics

Holdings,

Inc

588,605‌

69,500

(a)

Arcus

Biosciences,

Inc

1,091,845‌

69,779

(a)

Arcutis

Biotherapeutics,

Inc

157,003‌

266,544

(a)

Ardelyx,

Inc

1,052,849‌

132,768

(a)

Arrowhead

Pharmaceuticals,

Inc

3,264,765‌

67,364

(a)

Arvinas,

Inc

1,085,908‌

120,384

(a)

Assertio

Holdings,

Inc

258,826‌

34,858

(a),(b)

Astria

Therapeutics,

Inc

173,941‌

132,865

(a)

Atara

Biotherapeutics,

Inc

171,396‌

105,147

(a)

Atea

Pharmaceuticals,

Inc

341,728‌

37,316

(a)

Aura

Biosciences,

Inc

304,499‌

172,857

(a)

Aurinia

Pharmaceuticals,

Inc

1,268,770‌

83,065

(a)

Avid

Bioservices,

Inc

510,850‌

92,760

(a)

Avidity

Biosciences,

Inc

477,714‌

34,057

(a),(b)

Avita

Medical,

Inc

317,071‌

46,101

(a),(b)

Axsome

Therapeutics,

Inc

2,871,170‌

92,847

(a),(b)

Beam

Therapeutics,

Inc

1,962,786‌

60,363

(a)

BioAtla,

Inc

88,734‌

252,684

(a)

BioCryst

Pharmaceuticals,

Inc

1,387,235‌

76,176

(a)

Biohaven

Ltd

2,019,426‌

47,217

(a)

BioLife

Solutions,

Inc

476,892‌

26,928

(a),(b)

Biomea

Fusion,

Inc

275,204‌

18,644

(a),(b)

Biote

Corp

99,373‌

14,808

(a),(b)

Bioxcel

Therapeutics

Inc

59,454‌

150,690

(a),(b)

Bluebird

Bio,

Inc

444,535‌

80,387

(a)

Blueprint

Medicines

Corp

4,731,579‌

151,761

(a)

Bridgebio

Pharma,

Inc

3,951,856‌

82,701

(a),(b)

Bright

Green

Corp

30,120‌

46,461

(a),(b)

Cabaletta

Bio,

Inc

662,534‌

59,968

(a)

Cara

Therapeutics,

Inc

77,359‌

70,175

(a)

CareDx,

Inc

379,647‌

101,292

(a)

Caribou

Biosciences,

Inc

367,690‌

36,524

(b)

Carisma

Therapeutics,

Inc

109,572‌

49,120

(a),(b)

Cassava

Sciences,

Inc

989,768‌

128,361

(a)

Catalyst

Pharmaceuticals,

Inc

1,592,960‌

23,416

(a)

Celcuity,

Inc

249,380‌

60,600

(a)

Celldex

Therapeutics,

Inc

1,425,312‌

26,194

(a)

Century

Therapeutics,

Inc

40,077‌

83,617

(a)

Cerevel

Therapeutics

Holdings,

Inc

1,977,542‌

78,524

(a),(c)

Chinook

Therapeutics,

Inc

30,624‌

164,649

(a),(b)

Citius

Pharmaceuticals,

Inc

123,915‌

89,565

(a)

Codexis,

Inc

148,678‌

109,291

(a)

Cogent

Biosciences,

Inc

891,815‌

135,056

(a)

Coherus

Biosciences,

Inc

452,438‌

46,249

(a)

Collegium

Pharmaceutical,

Inc

1,006,378‌

124,245

(a),(b)

Compass

Therapeutics,

Inc

223,641‌

104,665

(a)

Corcept

Therapeutics,

Inc

2,938,993‌

60,777

(a),(b)

CorMedix,

Inc

211,504‌

87,150

(a)

Crinetics

Pharmaceuticals,

Inc

2,552,623‌

54,560

(a)

CryoPort,

Inc

529,232‌

47,316

(a)

Cue

Biopharma,

Inc

99,364‌

34,937

(a)

Cullinan

Oncology,

Inc

325,962‌

126,752

(a)

Cymabay

Therapeutics,

Inc

2,076,198‌

159,879

(a)

Cytek

Biosciences,

Inc

673,091‌

123,328

(a)

Cytokinetics,

Inc

4,299,214‌

139

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

84,682

(a)

Day

One

Biopharmaceuticals,

Inc

$

1,001,788‌

68,586

(a)

Deciphera

Pharmaceuticals,

Inc

822,346‌

159,902

(a)

Denali

Therapeutics,

Inc

3,010,955‌

47,309

(a)

Design

Therapeutics,

Inc

96,510‌

11,903

(a),(b)

Disc

Medicine,

Inc

545,276‌

169,096

(a)

Dynavax

Technologies

Corp

2,402,854‌

57,715

(a)

Dyne

Therapeutics,

Inc

406,891‌

14,382

(a)

Eagle

Pharmaceuticals,

Inc

197,465‌

58,283

(a)

Edgewise

Therapeutics,

Inc

373,011‌

111,593

(a)

Editas

Medicine,

Inc

745,441‌

56,201

(a),(b)

Emergent

Biosolutions,

Inc

117,460‌

26,286

(a)

Enanta

Pharmaceuticals,

Inc

237,100‌

31,703

(a),(b)

Enliven

Therapeutics,

Inc

392,800‌

29,191

(a),(b)

Entrada

Therapeutics,

Inc

467,348‌

433,314

(a)

EQRx,

Inc

944,625‌

122,126

(a)

Erasca,

Inc

282,111‌

55,974

(a)

Evolus,

Inc

425,402‌

38,852

(a),(b)

Eyenovia,

Inc

50,508‌

35,581

(a)

EyePoint

Pharmaceuticals,

Inc

214,198‌

113,106

(a)

Fate

Therapeutics,

Inc

204,722‌

24,461

(a),(b)

Fennec

Pharmaceuticals,

Inc

168,292‌

83,092

(a),(b)

FibroGen,

Inc

44,953‌

28,008

(a),(b)

Foghorn

Therapeutics,

Inc

93,827‌

18,565

(a)

Genelux

Corp

269,378‌

64,890

(a)

Generation

Bio

Co

60,886‌

673,923

(a)

Geron

Corp

1,280,454‌

38,589

(a)

Graphite

Bio,

Inc

96,087‌

121,020

(a),(b)

Gritstone

bio,

Inc

229,938‌

172,567

(a)

Halozyme

Therapeutics,

Inc

5,844,844‌

44,397

(a)

Harmony

Biosciences

Holdings,

Inc

1,045,105‌

39,598

(a),(b)

Harrow

Health,

Inc

567,637‌

52,517

(a)

Harvard

Bioscience,

Inc

230,550‌

91,752

(a),(b)

Heron

Therapeutics,

Inc

58,437‌

28,832

(a)

HilleVax,

Inc

317,152‌

80,338

(a),(b)

Humacyte,

Inc

170,317‌

37,494

(a),(b)

Icosavax,

Inc

230,588‌

70,213

(a)

Ideaya

Biosciences,

Inc

1,907,687‌

6,816

(a),(b)

IGM

Biosciences,

Inc

26,855‌

29,269

(a),(b)

Ikena

Oncology,

Inc

117,954‌

27,824

(a),(b)

Immuneering

Corp

195,603‌

150,950

(a),(b)

ImmunityBio,

Inc

473,983‌

317,106

(a)

Immunogen,

Inc

4,712,195‌

70,690

(a)

Immunovant,

Inc

2,336,304‌

46,546

(a)

Inhibrx,

Inc

720,067‌

78,019

(a)

Innoviva,

Inc

968,216‌

46,180

(a)

Inozyme

Pharma,

Inc

137,155‌

174,078

(a)

Insmed,

Inc

4,362,395‌

116,753

(a)

Intellia

Therapeutics,

Inc

2,924,663‌

54,769

(a)

Intercept

Pharmaceuticals,

Inc

1,036,777‌

124,167

(a)

Intra-Cellular

Therapies,

Inc

6,178,550‌

309,838

(a)

Iovance

Biotherapeutics,

Inc

1,183,581‌

189,169

(a)

Ironwood

Pharmaceuticals,

Inc

1,696,846‌

33,162

(a)

iTeos

Therapeutics,

Inc

333,610‌

21,259

(a),(b)

Janux

Therapeutics,

Inc

136,483‌

32,824

(a)

KalVista

Pharmaceuticals,

Inc

278,676‌

153,723

(a)

Karyopharm

Therapeutics,

Inc

133,739‌

30,428

(a)

Keros

Therapeutics,

Inc

868,415‌

97,211

(a)

Kezar

Life

Sciences,

Inc

70,099‌

43,001

(a)

Kiniksa

Pharmaceuticals

Ltd

655,765‌

46,566

(a)

Kodiak

Sciences,

Inc

67,521‌

28,476

(a)

Krystal

Biotech,

Inc

3,327,990‌

95,283

(a)

Kura

Oncology,

Inc

805,141‌

52,958

(a)

Kymera

Therapeutics,

Inc

618,020‌

Small-Cap

Blend

Index

Fund

October

31,

2023

140

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

35,655

(a)

Larimar

Therapeutics,

Inc

$

104,469‌

126,230

(a),(b)

Lexicon

Pharmaceuticals,

Inc

156,525‌

22,292

(a)

Ligand

Pharmaceuticals,

Inc

(Class

B)

1,165,649‌

176,749

(a),(b)

Lineage

Cell

Therapeutics,

Inc

201,494‌

63,413

(a)

Liquidia

Corp

412,819‌

21,463

(a)

Longboard

Pharmaceuticals,

Inc

116,222‌

242,546

(a),(b)

Lyell

Immunopharma,

Inc

401,414‌

82,092

(a)

MacroGenics,

Inc

428,520‌

17,819

(a)

Madrigal

Pharmaceuticals,

Inc

2,341,060‌

346,252

(a)

MannKind

Corp

1,485,421‌

67,798

(a),(b)

Marinus

Pharmaceuticals,

Inc

470,518‌

121,346

(a)

MaxCyte,

Inc

359,184‌

44,655

(a)

MeiraGTx

Holdings

plc

201,841‌

13,719

(a),(b)

Merrimack

Pharmaceuticals,

Inc

167,783‌

65,881

(a)

Mersana

Therapeutics,

Inc

78,398‌

155,997

(a)

MiMedx

Group,

Inc

1,023,340‌

18,940

(a)

Mineralys

Therapeutics,

Inc

146,406‌

33,475

(a)

Mirum

Pharmaceuticals,

Inc

918,219‌

41,302

(a),(b)

Monte

Rosa

Therapeutics,

Inc

140,427‌

46,453

(a)

Morphic

Holding,

Inc

926,737‌

109,125

(a)

Myriad

Genetics,

Inc

1,700,167‌

65,874

(a),(b)

NanoString

Technologies,

Inc

90,906‌

66,458

(a)

Nautilus

Biotechnology,

Inc

170,132‌

54,749

(a)

NGM

Biopharmaceuticals,

Inc

46,531‌

45,244

(a),(b)

Nkarta,

Inc

91,845‌

118,317

(a),(b)

Novavax,

Inc

787,991‌

62,887

(a)

Nurix

Therapeutics,

Inc

351,538‌

31,071

(a)

Nuvalent,

Inc

1,618,488‌

198,189

(a)

Nuvation

Bio,

Inc

190,975‌

9,280

(a)

Nuvectis

Pharma,

Inc

83,056‌

11,704

(a),(b)

Ocean

Biomedical,

Inc

19,663‌

110,944

(a)

Ocular

Therapeutix,

Inc

316,190‌

36,652

(a)

Olema

Pharmaceuticals,

Inc

487,105‌

33,248

(a),(b)

Omega

Therapeutics,

Inc

45,550‌

7,972

(a),(c)

OmniAb

Operations,

Inc

80‌

7,972

(a),(c)

OmniAb

Operations,

Inc

80‌

126,255

(a)

OmniAb,

Inc

574,460‌

102,190

(a),(b)

Optinose,

Inc

115,475‌

99,130

(a),(b)

Organogenesis

Holdings,

Inc

222,051‌

53,148

(a)

ORIC

Pharmaceuticals,

Inc

356,092‌

82,414

(a),(b)

Ovid

therapeutics,

Inc

292,570‌

340,184

(a)

Pacific

Biosciences

of

California,

Inc

2,102,337‌

61,624

(a)

Pacira

BioSciences,

Inc

1,741,494‌

38,199

(a),(b)

PDS

Biotechnology

Corp

159,290‌

13,643

(a),(b)

PepGen,

Inc

69,852‌

41,651

(a),(b)

Phathom

Pharmaceuticals,

Inc

387,354‌

28,478

Phibro

Animal

Health

Corp

310,980‌

76,493

(a)

Pliant

Therapeutics,

Inc

1,122,152‌

52,216

(a)

PMV

Pharmaceuticals,

Inc

78,846‌

115,504

(a)

Point

Biopharma

Global,

Inc

1,462,281‌

93,312

(a)

Poseida

Therapeutics,

Inc

188,490‌

185,473

(a),(b)

Precigen,

Inc

209,584‌

13,804

(a),(b)

Prelude

Therapeutics,

Inc

23,329‌

66,237

(a)

Prestige

Consumer

Healthcare,

Inc.

3,931,828‌

53,396

(a),(b)

Prime

Medicine,

Inc

346,540‌

46,942

(a),(b)

ProKidney

Corp

76,515‌

77,065

(a)

Protagonist

Therapeutics,

Inc

1,120,525‌

74,027

(a),(b)

Protalix

BioTherapeutics,

Inc

123,625‌

54,290

(a)

Prothena

Corp

plc

1,979,413‌

92,197

(a)

PTC

Therapeutics,

Inc

1,728,694‌

47,125

(a)

Quanterix

Corp

1,023,555‌

130,597

(a),(b)

Quantum-Si,

Inc

156,716‌

41,950

(a),(b)

Rallybio

Corp

176,190‌

141

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

39,628

(a)

RAPT

Therapeutics,

Inc

$

521,108‌

185,352

(a),(b)

Recursion

Pharmaceuticals,

Inc

978,659‌

53,294

(a)

REGENXBIO,

Inc

686,960‌

122,162

(a)

Relay

Therapeutics,

Inc

806,269‌

13,526

(a),(b)

Reneo

Pharmaceuticals,

Inc

109,425‌

56,659

(a)

Replimune

Group,

Inc

825,522‌

112,002

(a)

Revance

Therapeutics,

Inc

883,696‌

133,759

(a)

REVOLUTION

Medicines,

Inc

2,648,428‌

65,834

(a)

Rhythm

Pharmaceuticals,

Inc

1,521,424‌

242,444

(a)

Rigel

Pharmaceuticals,

Inc

195,725‌

75,184

(a)

Rocket

Pharmaceuticals,

Inc

1,360,830‌

71,611

(a)

Sage

Therapeutics,

Inc

1,341,274‌

7,575

(a),(b)

Sagimet

Biosciences,

Inc

27,724‌

127,192

(a),(b)

Sana

Biotechnology,

Inc

376,488‌

233,110

(a)

Sangamo

Therapeutics

Inc

146,906‌

122,409

(a),(b)

Savara,

Inc

448,017‌

58,598

(a)

Scholar

Rock

Holding

Corp

689,112‌

39,230

(a),(b)

scPharmaceuticals,

Inc

209,881‌

81,550

(a)

Seer,

Inc

133,742‌

159,741

(a),(b)

Selecta

Biosciences,

Inc

199,676‌

132,061

(a)

Seres

Therapeutics,

Inc

202,053‌

48,739

(b)

SIGA

Technologies,

Inc

248,569‌

33,145

(a),(b)

Silverback

Therapeutics,

Inc

118,328‌

208,538

(a)

SomaLogic,

Inc

465,040‌

88,306

(a),(b),(c)

Sorrento

Therapeutics,

Inc

161,242‌

78,987

(a)

SpringWorks

Therapeutics,

Inc

1,808,802‌

37,455

(a),(b)

Stoke

Therapeutics,

Inc

142,704‌

157,458

(a),(b)

Summit

Therapeutics,

Inc

305,469‌

65,592

(a)

Supernus

Pharmaceuticals,

Inc

1,564,369‌

88,668

(a)

Sutro

Biopharma,

Inc

243,837‌

89,185

(a)

Syndax

Pharmaceuticals,

Inc

1,255,725‌

57,185

(a),(b)

Tango

Therapeutics,

Inc

480,354‌

10,807

(a)

Taro

Pharmaceutical

Industries

Ltd

367,006‌

32,008

(a)

Tarsus

Pharmaceuticals,

Inc

455,794‌

62,367

(a)

Tenaya

Therapeutics,

Inc

113,508‌

58,306

(a),(b)

Terns

Pharmaceuticals,

Inc

306,690‌

174,800

(a)

TG

Therapeutics,

Inc

1,351,204‌

76,108

(a),(b)

Theravance

Biopharma,

Inc

718,460‌

29,669

(a)

Theseus

Pharmaceuticals,

Inc

68,239‌

26,824

(a)

Third

Harmonic

Bio,

Inc

171,674‌

98,440

(a)

Travere

Therapeutics,

Inc

637,891‌

57,709

(a),(b)

Trevi

Therapeutics,

Inc

102,722‌

76,783

(a)

Twist

Bioscience

Corp

1,210,100‌

18,400

(a),(b)

Tyra

Biosciences,

Inc

213,440‌

26,820

(a)

UroGen

Pharma

Ltd

300,652‌

77,049

(a)

Vanda

Pharmaceuticals,

Inc

337,475‌

124,500

(a)

Vaxcyte,

Inc

5,988,450‌

58,029

(a),(b)

Vaxxinity,

Inc

66,733‌

60,524

(a)

Ventyx

Biosciences,

Inc

872,756‌

45,877

(a)

Vera

Therapeutics,

Inc

478,038‌

98,673

(a)

Veracyte,

Inc

2,044,505‌

63,230

(a)

Vericel

Corp

2,224,431‌

28,476

(a),(b)

Verrica

Pharmaceuticals,

Inc

104,792‌

68,915

(a),(b)

Verve

Therapeutics,

Inc

829,737‌

22,032

(a),(b)

Vigil

Neuroscience,

Inc

154,224‌

122,665

(a)

Viking

Therapeutics,

Inc

1,203,344‌

113,567

(a)

Vir

Biotechnology,

Inc

900,586‌

57,193

(a)

Viridian

Therapeutics,

Inc

714,913‌

51,509

(a)

Vor

BioPharma,

Inc

94,261‌

42,867

(a)

Voyager

Therapeutics,

Inc

281,636‌

80,574

(a),(b)

WaVe

Life

Sciences

Ltd

433,488‌

167,362

(a)

X4

Pharmaceuticals,

Inc

133,973‌

78,294

(a)

Xencor,

Inc

1,358,401‌

Small-Cap

Blend

Index

Fund

October

31,

2023

142

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

185,451

(a)

Xeris

Biopharma

Holdings,

Inc

$

339,375‌

9,988

(a),(b)

XOMA

Corp

188,274‌

50,449

(a)

Y-mAbs

Therapeutics,

Inc

269,398‌

78,566

(a)

Zentalis

Pharmaceuticals,

Inc

1,285,340‌

47,316

(a),(b)

Zevra

Therapeutics,

Inc

211,976‌

9,903

(a)

Zura

Bio

Ltd

46,544‌

72,589

(a),(b)

Zymeworks,

Inc

509,575‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

230,651,950‌

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

-

0

.7

%

2,110

(a)

American

Realty

Investors,

Inc

26,481‌

145,823

(a)

Anywhere

Real

Estate,

Inc

680,993‌

370,576

(a)

Compass,

Inc

733,740‌

224,697

(a)

Cushman

&

Wakefield

plc

1,656,017‌

213,981

DigitalBridge

Group,

Inc

3,391,599‌

122,458

Douglas

Elliman,

Inc

216,751‌

94,388

(b)

eXp

World

Holdings,

Inc

1,252,529‌

24,714

(a)

Forestar

Group,

Inc

586,958‌

8,758

(a)

FRP

Holdings,

Inc

471,093‌

156,285

Kennedy-Wilson

Holdings,

Inc

2,011,388‌

32,091

Marcus

&

Millichap,

Inc

921,012‌

9,874

(a)

Maui

Land

&

Pineapple

Co,

Inc

144,555‌

183,117

Newmark

Group,

Inc

1,038,273‌

723,799

(a)

Opendoor

Technologies,

Inc

1,375,218‌

23,741

Re/Max

Holdings,

Inc

255,453‌

140,835

(a),(b)

Redfin

Corp

656,291‌

20,152

RMR

Group,

Inc

453,823‌

45,270

St.

Joe

Co

2,111,393‌

8,230

(a)

Stratus

Properties,

Inc

211,264‌

28,670

(a)

Tejon

Ranch

Co

444,958‌

1,691

(a)

Transcontinental

Realty

Investors,

Inc

51,373‌

TOTAL

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

18,691,162‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

2

.8

%

64,940

(a)

ACM

Research,

Inc

883,184‌

32,803

(a)

Aehr

Test

Systems

772,839‌

30,740

(a)

Alpha

&

Omega

Semiconductor

Ltd

729,153‌

51,167

(a)

Ambarella,

Inc

2,302,003‌

135,002

Amkor

Technology,

Inc

2,816,142‌

28,637

(a),(b)

Atomera,

Inc

183,277‌

43,738

(a)

Axcelis

Technologies,

Inc

5,576,595‌

29,150

(a)

Ceva,

Inc

500,505‌

16

(a),(c)

China

Energy

Savings

Technology,

Inc

0‌

62,303

(a)

Cohu,

Inc

1,877,812‌

128,291

(a)

Credo

Technology

Group

Holding

Ltd

1,824,298‌

59,660

(a)

Diodes,

Inc

3,882,673‌

103,676

(a)

Formfactor,

Inc

3,512,543‌

37,652

(a)

Ichor

Holdings

Ltd

913,438‌

31,050

(a)

Impinj,

Inc

2,006,141‌

185,634

(a),(b)

indie

Semiconductor,

Inc

907,750‌

14,287

(a)

inTEST

Corp

184,731‌

72,576

Kulicke

&

Soffa

Industries,

Inc

3,019,887‌

72,120

(a)

MACOM

Technology

Solutions

Holdings,

Inc

5,087,345‌

39,710

(a),(b)

Maxeon

Solar

Technologies

Ltd

247,790‌

100,110

(a)

MaxLinear,

Inc

1,521,672‌

147,697

(a)

Navitas

Semiconductor

Corp

773,932‌

6,396

NVE

Corp

434,928‌

65,325

(a)

Onto

Innovation,

Inc

7,340,570‌

41,128

(a)

PDF

Solutions,

Inc

1,091,126‌

81,550

(a)

Photronics,

Inc

1,497,258‌

75,282

Power

Integrations,

Inc

5,219,301‌

145,456

(a)

Rambus,

Inc

7,902,624‌

83,369

(a)

Semtech

Corp

1,163,831‌

143

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

42,027

(a)

Silicon

Laboratories,

Inc

$

3,874,049‌

22,536

(a)

SiTime

Corp

2,249,093‌

23,864

(a),(b)

SkyWater

Technology,

Inc

117,650‌

65,804

(a)

SMART

Global

Holdings,

Inc

901,515‌

52,293

(a)

Synaptics,

Inc

4,374,832‌

29,962

(a),(b)

Transphorm,

Inc

78,201‌

58,055

(a)

Ultra

Clean

Holdings

1,385,192‌

66,049

(a)

Veeco

Instruments,

Inc

1,581,213‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

78,735,093‌

SOFTWARE

&

SERVICES

-

5

.9

%

152,114

(a)

8x8,

Inc

362,031‌

94,696

A10

Networks,

Inc

1,029,346‌

146,261

(a)

ACI

Worldwide,

Inc

2,979,337‌

137,174

Adeia,

Inc

1,156,377‌

26,116

(a)

Agilysys,

Inc

2,240,492‌

63,124

(a)

Alarm.com

Holdings,

Inc

3,227,530‌

52,968

(a)

Alkami

Technology,

Inc

950,776‌

70,852

(a)

Altair

Engineering,

Inc

4,401,326‌

42,572

American

Software,

Inc

(Class

A)

467,015‌

91,578

(a)

Amplitude,

Inc

912,117‌

25,423

(a)

Appfolio,

Inc

4,768,592‌

53,881

(a)

Appian

Corp

2,126,144‌

92,399

(a),(b)

Applied

Digital

Corp

450,907‌

102,748

(a)

Asana,

Inc

1,897,756‌

25,633

(a)

Asure

Software,

Inc

216,855‌

206,601

(a)

AvePoint,

Inc

1,547,442‌

37,314

(a),(b)

BigBear.ai

Holdings,

Inc

47,389‌

92,493

(a)

BigCommerce

Holdings,

Inc

822,263‌

99,394

(a),(b)

Bit

Digital,

Inc

208,727‌

57,403

(a)

Blackbaud,

Inc

3,754,156‌

75,839

(a)

BlackLine,

Inc

3,723,695‌

186,829

(a)

Box,

Inc

4,644,569‌

68,736

(a)

Braze,

Inc

2,926,779‌

52,707

(a)

Brightcove,

Inc

162,338‌

80,324

(a),(b)

C3.ai,

Inc

1,959,906‌

52,144

(a)

Cerence,

Inc

798,325‌

54,565

(a),(b)

Cipher

Mining,

Inc

181,701‌

149,180

(a)

Cleanspark,

Inc

611,638‌

107,648

Clear

Secure,

Inc

1,810,639‌

57,904

(a)

Commvault

Systems,

Inc

3,784,026‌

25,464

(a)

Consensus

Cloud

Solutions,

Inc

549,768‌

9,622

(a),(b)

CoreCard

Corp

205,622‌

45,997

(a)

Couchbase,

Inc

715,713‌

31,049

(a)

CS

Disco,

Inc

174,185‌

18,216

(a),(b)

Digimarc

Corp

472,523‌

127,855

(a)

Digital

Turbine,

Inc

606,033‌

84,338

(a),(b)

DigitalOcean

Holdings,

Inc

1,725,556‌

41,771

(a)

Domo,

Inc

340,851‌

229,054

(a)

E2open

Parent

Holdings,

Inc

661,966‌

36,372

(b)

Ebix,

Inc

221,505‌

32,005

(a)

eGain

Corp

192,670‌

50,931

(a),(b)

Enfusion,

Inc

422,727‌

65,018

(a)

EngageSmart,

Inc

1,472,658‌

67,418

(a)

Envestnet,

Inc

2,494,466‌

53,665

(a)

Everbridge,

Inc

1,106,036‌

33,468

(a)

EverCommerce,

Inc

320,623‌

74,393

(a)

Expensify,

Inc

198,629‌

155,566

(a)

Fastly,

Inc

2,282,153‌

214,627

(a)

Freshworks,

Inc

3,850,408‌

72,683

(a)

Grid

Dynamics

Holdings,

Inc

737,006‌

32,648

Hackett

Group,

Inc

727,724‌

14,547

(a)

IBEX

Holdings

Ltd

237,407‌

Small-Cap

Blend

Index

Fund

October

31,

2023

144

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

49,632

Information

Services

Group,

Inc

$

201,506‌

23,999

(a)

Instructure

Holdings,

Inc

591,095‌

29,665

(a)

Intapp,

Inc

1,014,543‌

35,973

InterDigital,

Inc

2,706,968‌

93,971

(a)

Jamf

Holding

Corp

1,509,174‌

113,547

(a),(b)

Kaltura,

Inc

195,301‌

97,810

(a)

Liveperson,

Inc

258,218‌

88,695

(a)

LiveRamp

Holdings,

Inc

2,453,304‌

30,504

(a)

LiveVox

Holdings,

Inc

110,119‌

219,175

(a),(b)

Marathon

Digital

Holdings,

Inc

1,930,932‌

341,827

(a),(b)

Matterport,

Inc

697,327‌

34,938

(a)

MeridianLink,

Inc

573,682‌

14,559

(a),(b)

MicroStrategy,

Inc

(Class

A)

6,164,135‌

59,675

(a)

Mitek

Systems,

Inc

637,329‌

51,523

(a)

Model

N,

Inc

1,241,704‌

94,122

(a)

N-able,

Inc

1,219,821‌

74,973

(a),(b)

NextNav,

Inc

349,374‌

139,279

(a)

Olo,

Inc

711,716‌

49,611

ON24,

Inc

305,108‌

53,118

(a)

OneSpan,

Inc

419,632‌

118,926

(a),(b)

PagerDuty,

Inc

2,398,737‌

44,833

(a)

Perficient,

Inc

2,608,832‌

75,674

(a)

PowerSchool

Holdings,

Inc

1,507,426‌

57,964

Progress

Software

Corp

2,978,190‌

60,276

(a)

PROS

Holdings,

Inc

1,877,597‌

74,795

(a)

Q2

Holdings,

Inc

2,246,094‌

49,604

(a)

Qualys,

Inc

7,586,932‌

79,327

(a)

Rapid7,

Inc

3,687,912‌

68,658

(a)

Rimini

Street,

Inc

148,988‌

221,234

(a),(b)

Riot

Platforms,

Inc

2,163,669‌

39,607

Sapiens

International

Corp

NV

1,009,979‌

41,848

(a)

SEMrush

Holdings,

Inc

338,132‌

67,188

(a)

SolarWinds

Corp

618,801‌

190,276

(a),(b)

SoundHound

AI,

Inc

302,539‌

11,953

(a)

SoundThinking,

Inc

180,371‌

138,689

(a)

Sprinklr,

Inc

1,884,784‌

64,352

(a)

Sprout

Social,

Inc

2,785,155‌

48,974

(a)

SPS

Commerce,

Inc

7,852,491‌

60,438

(a)

Squarespace,

Inc

1,717,044‌

151,344

(a)

Tenable

Holdings,

Inc

6,373,096‌

183,601

(a),(b)

Terawulf,

Inc

203,797‌

124,531

(a)

Thoughtworks

Holding,

Inc

422,160‌

13,579

(a),(b)

Tucows,

Inc

229,349‌

93,710

(a)

Unisys

Corp

260,514‌

144,012

(a)

Varonis

Systems,

Inc

4,844,564‌

84,018

(a)

Verint

Systems,

Inc

1,580,379‌

17,360

(a)

Viant

Technology,

Inc

93,570‌

43,626

(a)

Weave

Communications,

Inc

312,362‌

65,245

(a)

Workiva,

Inc

5,682,187‌

58,016

(a)

Xperi,

Inc

492,556‌

133,360

(a)

Yext,

Inc

804,161‌

181,598

(a)

Zeta

Global

Holdings

Corp

1,416,464‌

173,357

(a)

Zuora,

Inc

1,284,575‌

TOTAL

SOFTWARE

&

SERVICES

165,070,818‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

4

.1

%

30,205

(a),(b)

908

Devices,

Inc

179,116‌

103,824

ADTRAN

Holdings,

Inc

682,124‌

49,781

Advanced

Energy

Industries,

Inc

4,343,890‌

136,154

(a),(b)

Aeva

Technologies,

Inc

67,805‌

95,939

(a),(b)

Akoustis

Technologies,

Inc

48,641‌

109,972

(a)

Arlo

Technologies,

Inc

933,662‌

15,093

(a)

Aviat

Networks,

Inc

402,983‌

145

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

43,534

(a)

Avid

Technology,

Inc

$

1,176,289‌

39,008

Badger

Meter,

Inc

5,404,558‌

13,903

Bel

Fuse,

Inc

(Class

B)

753,265‌

56,336

Belden

CDT,

Inc

3,994,222‌

47,165

Benchmark

Electronics,

Inc

1,141,865‌

77,289

(a)

Calix,

Inc

2,559,812‌

15,390

(a)

Cambium

Networks

Corp

76,642‌

17,023

(a),(b)

Clearfield,

Inc

408,892‌

5,413

(b)

Climb

Global

Solutions,

Inc

240,770‌

226,468

(a)

CommScope

Holding

Co,

Inc

335,173‌

19,845

(a),(b)

CompoSecure,

Inc

119,665‌

29,874

Comtech

Telecommunications

Corp

364,463‌

49,333

(a)

Corsair

Gaming,

Inc

630,969‌

5,715

(a),(b)

CPI

Card

Group,

Inc

94,583‌

42,326

CTS

Corp

1,583,416‌

52,112

(a)

Daktronics,

Inc

501,317‌

46,873

(a)

Digi

International,

Inc

1,180,262‌

37,273

(a),(b)

DZS,

Inc

47,337‌

78,672

(a)

Eastman

Kodak

Co

292,660‌

35,687

(a)

ePlus,

Inc

2,230,437‌

152,459

(a),(b)

Evolv

Technologies

Holdings,

Inc

647,951‌

166,324

(a)

Extreme

Networks,

Inc

3,429,601‌

48,609

(a)

Fabrinet

7,534,395‌

25,759

(a)

FARO

Technologies,

Inc

331,518‌

148,294

(a),(b)

Harmonic,

Inc

1,600,092‌

39,344

Immersion

Corp

251,408‌

261,459

(a),(b)

Infinera

Corp

766,075‌

38,076

(a)

Insight

Enterprises,

Inc

5,456,291‌

31,595

(a),(b)

Intevac,

Inc

101,420‌

214,556

(a),(b)

IonQ,

Inc

2,068,320‌

55,526

(a)

Iteris,

Inc

245,425‌

60,295

(a)

Itron,

Inc

3,453,698‌

31,385

(a)

Kimball

Electronics,

Inc

822,287‌

118,339

(a)

Knowles

Corp

1,537,224‌

23,802

(a)

KVH

Industries,

Inc

111,393‌

155,618

(a),(b)

Lightwave

Logic,

Inc

704,950‌

42,898

(a),(b)

Luna

Innovations,

Inc

243,661‌

46,978

Methode

Electronics,

Inc

1,074,387‌

240,192

(a),(b)

MicroVision,

Inc

453,963‌

269,997

(a)

Mirion

Technologies,

Inc

1,871,079‌

41,884

Napco

Security

Technologies,

Inc

769,409‌

37,896

(a)

Netgear,

Inc

479,005‌

89,641

(a)

Netscout

Systems,

Inc

1,956,863‌

59,828

(a)

nLight,

Inc

498,367‌

47,443

(a)

Novanta,

Inc

6,265,323‌

21,356

(a)

OSI

Systems,

Inc

2,226,790‌

35,663

(a),(b)

PAR

Technology

Corp

1,041,003‌

15,952

PC

Connection,

Inc

854,708‌

36,605

(a)

Plexus

Corp

3,599,004‌

114,929

(a)

Ribbon

Communications,

Inc

216,066‌

15,463

(b)

Richardson

Electronics

Ltd

177,361‌

23,306

(a)

Rogers

Corp

2,864,074‌

76,507

(a)

Sanmina

Corp

3,891,911‌

33,317

(a)

Scansource,

Inc

1,012,837‌

249,482

(a),(b)

SmartRent,

Inc

601,252‌

61,589

(a)

Super

Micro

Computer,

Inc

14,748,718‌

163,745

(a),(b)

Tingo

Group,

Inc

127,950‌

137,307

(a)

TTM

Technologies,

Inc

1,577,657‌

23,429

(a)

Turtle

Beach

Corp

193,289‌

298,029

(a)

Viavi

Solutions,

Inc

2,318,666‌

172,268

Vishay

Intertechnology,

Inc

3,831,240‌

16,057

(a)

Vishay

Precision

Group,

Inc

480,425‌

Small-Cap

Blend

Index

Fund

October

31,

2023

146

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

152,881

Xerox

Holdings

Corp

$

1,962,992‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

114,194,866‌

TELECOMMUNICATION

SERVICES

-

0

.6

%

17,395

(a)

Anterix,

Inc

530,374‌

108,710

(a),(b)

AST

SpaceMobile,

Inc

359,830‌

14,813

ATN

International,

Inc

458,462‌

31,861

(a)

Bandwidth,

Inc

338,045‌

181,053

(a)

Charge

Enterprises,

Inc

51,636‌

57,451

Cogent

Communications

Group,

Inc

3,733,166‌

105,124

(a)

Consolidated

Communications

Holdings,

Inc

438,367‌

46,178

(a)

EchoStar

Corp

(Class

A)

640,027‌

909,750

(a),(b)

Globalstar,

Inc

1,282,748‌

88,826

(a)

Gogo,

Inc

932,673‌

21,037

(a)

IDT

Corp

590,088‌

48,837

(a)

Liberty

Latin

America

Ltd

(Class

A)

333,557‌

197,391

(a)

Liberty

Latin

America

Ltd

(Class

C)

1,352,128‌

1,360,138

(b)

Lumen

Technologies,

Inc

1,985,802‌

30,425

(a)

Ooma,

Inc

331,937‌

62,903

Shenandoah

Telecom

Co

1,488,285‌

24,019

Spok

Holdings,

Inc

358,123‌

131,853

Telephone

and

Data

Systems,

Inc

2,398,406‌

TOTAL

TELECOMMUNICATION

SERVICES

17,603,654‌

TRANSPORTATION

-

1

.4

%

74,021

(a)

Air

Transport

Services

Group,

Inc

1,448,591‌

20,723

Allegiant

Travel

Co

1,380,566‌

31,624

ArcBest

Corp

3,443,221‌

71,421

(a)

Blade

Air

Mobility,

Inc

152,127‌

59,390

Costamare,

Inc

536,292‌

11,167

Covenant

Logistics

Group,

Inc

440,929‌

53,825

(a)

Daseke,

Inc

238,983‌

12,455

(b)

Eagle

Bulk

Shipping,

Inc

508,164‌

32,081

(b)

Eneti,

Inc

325,622‌

35,177

Forward

Air

Corp

2,265,751‌

38,905

(a),(b)

Frontier

Group

Holdings,

Inc

131,888‌

134,966

FTAI

Infrastructure,

Inc

412,996‌

53,888

Genco

Shipping

&

Trading

Ltd

709,705‌

163,114

Golden

Ocean

Group

Ltd

1,182,576‌

70,276

(a)

Hawaiian

Holdings,

Inc

295,862‌

63,458

Heartland

Express,

Inc

739,920‌

18,434

(a)

Himalaya

Shipping

Ltd

83,690‌

42,327

(a)

Hub

Group,

Inc

(Class

A)

2,909,981‌

436,658

(a)

JetBlue

Airways

Corp

1,641,834‌

365,228

(a),(b)

Joby

Aviation,

Inc

1,924,752‌

75,286

Marten

Transport

Ltd

1,323,528‌

46,967

Matson,

Inc

4,088,477‌

8,979

(a)

PAM

Transportation

Services,

Inc

155,067‌

47,422

Pangaea

Logistics

Solutions

Ltd

274,573‌

51,631

(a)

Radiant

Logistics,

Inc

302,558‌

155,789

(a)

RXO,

Inc

2,727,865‌

75,271

(b)

Safe

Bulkers,

Inc

236,351‌

59,242

(a)

Skywest,

Inc

2,498,235‌

142,954

(b)

Spirit

Airlines,

Inc

1,641,112‌

49,955

(a)

Sun

Country

Airlines

Holdings,

Inc

650,414‌

230,841

(a),(b)

TuSimple

Holdings,

Inc

247,000‌

10,420

Universal

Truckload

Services,

Inc

233,200‌

84,911

Werner

Enterprises,

Inc

3,083,968‌

TOTAL

TRANSPORTATION

38,235,798‌

UTILITIES

-

3

.0

%

76,894

Allete,

Inc

4,116,905‌

73,675

(a),(b)

Altus

Power,

Inc

391,214‌

147

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

49,414

American

States

Water

Co

$

3,856,763‌

11,287

Artesian

Resources

Corp

443,579‌

101,168

Avista

Corp

3,206,014‌

88,286

Black

Hills

Corp

4,268,628‌

160,012

(b)

Brookfield

Infrastructure

Corp

4,121,909‌

56,339

(a),(b)

Cadiz,

Inc

170,707‌

76,119

California

Water

Service

Group

3,705,473‌

23,604

Chesapeake

Utilities

Corp

2,091,550‌

20,522

(b)

Consolidated

Water

Co,

Inc

605,809‌

27,477

(b)

Genie

Energy

Ltd

545,144‌

17,733

Global

Water

Resources,

Inc

186,728‌

48,531

MGE

Energy,

Inc

3,476,276‌

23,404

Middlesex

Water

Co

1,486,856‌

87,475

(a)

Montauk

Renewables,

Inc

879,998‌

127,860

New

Jersey

Resources

Corp

5,188,559‌

46,329

Northwest

Natural

Holding

Co

1,700,738‌

79,534

NorthWestern

Corp

3,818,427‌

73,078

ONE

Gas,

Inc

4,413,911‌

71,692

Ormat

Technologies,

Inc

4,411,926‌

54,412

Otter

Tail

Corp

4,186,459‌

113,027

PNM

Resources,

Inc

4,776,521‌

128,599

Portland

General

Electric

Co

5,146,532‌

25,021

(a)

Pure

Cycle

Corp

239,201‌

10,847

(b)

RGC

Resources,

Inc

169,647‌

43,062

SJW

Corp

2,690,514‌

81,537

Southwest

Gas

Holdings

Inc

4,778,884‌

68,281

Spire,

Inc

3,798,472‌

138,468

(a),(b)

Sunnova

Energy

International,

Inc

1,264,213‌

21,828

Unitil

Corp

996,885‌

18,741

York

Water

Co

675,988‌

TOTAL

UTILITIES

81,810,430‌

TOTAL

COMMON

STOCKS

2,769,972,870‌

(Cost

$2,403,422,304)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

-

0

.0

%

16,419

(b)

Lazydays

Holdings,

Inc

11/14/23

164‌

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

&

RETAIL

164‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0

.0

%

20,265

(c)

Chinook

Therapeutics,

Inc

203‌

9,351

(c)

Tobira

Therapeutics,

Inc

561‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

764‌

TOTAL

RIGHTS/WARRANTS

928‌

(Cost

$561)

TOTAL

LONG-TERM

INVESTMENTS

2,769,973,798‌

(Cost

$2,403,422,865)

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

0.5%

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

$

1,280,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

12/12/23

1,272,494‌

Small-Cap

Blend

Index

Fund

October

31,

2023

148

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

GOVERNMENT

AGENCY

DEBT—continued

$

5,000,000

FHLB

0

.000

%

01/05/24

$

4,953,467‌

TOTAL

GOVERNMENT

AGENCY

DEBT

6,225,961‌

REPURCHASE

AGREEMENT

-

0

.3

%

6,906,000

(d)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

6,906,000‌

TOTAL

REPURCHASE

AGREEMENT

6,906,000‌

TREASURY

DEBT

-

0

.0

%

1,120,000

United

States

Treasury

Bill

0

.000

11/07/23

1,119,014‌

TOTAL

TREASURY

DEBT

1,119,014‌

TOTAL

SHORT-TERM

INVESTMENTS

14,250,975‌

(Cost

$14,249,318)

SHARES

EXP

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

3.6%

99,758,456

(e)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

99,758,456‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

99,758,456‌

(Cost

$99,758,456)

TOTAL

INVESTMENTS

-

103.5%

2,883,983,229‌

(Cost

$2,517,430,639)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(3.5)%

(

97,304,210‌

)

NET

ASSETS

-

100.0%

$

2,786,679,019‌

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$137,328,174.

(c)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(d)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$6,906,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$7,044,144.

(e)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

Russell

2000

E

Mini

Index

167‌

12/15/23

 $

14,793,718‌

$

13,931,140‌

$

(

862,578‌

)

Portfolios

of

Investments

Emerging

Markets

Equity

Index

Fund

October

31,

2023

149

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

LONG-TERM

INVESTMENTS

-

98.4%

CORPORATE

BONDS

-

0

.0

%

INDIA

-

0

.0

%

INR

1,648,737

Britannia

Industries

Ltd

5

.500

%

06/03/24

$

19,510‌

TOTAL

INDIA

19,510‌

TOTAL

CORPORATE

BONDS

19,510‌

(Cost

$22,656)

SHARES

REFERENCERATE

&

SPREAD

COMMON

STOCKS

-

98.4%

BRAZIL

-

5

.3

%

3,810,997

Ambev

S.A.

9,720,716‌

454,500

Atacadao

S.A.

808,621‌

4,722,846

B3

SA-Brasil

Bolsa

Balcao

10,397,896‌

1,238,528

Banco

Bradesco

S.A.

3,019,092‌

4,340,604

Banco

Bradesco

S.A.

(Preference)

12,044,439‌

931,100

Banco

BTG

Pactual

S.A.

-

Unit

5,466,467‌

706,583

Banco

do

Brasil

S.A.

6,776,077‌

274,974

Banco

Santander

Brasil

S.A.

1,468,201‌

568,948

BB

Seguridade

Participacoes

S.A.

3,471,184‌

192,192

Centrais

Eletricas

Brasileiras

S.A.

1,465,718‌

979,045

Centrais

Eletricas

Brasileiras

S.A.

6,765,494‌

738,042

Cia

de

Concessoes

Rodoviarias

1,753,705‌

268,858

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

3,112,658‌

1,133,035

Cia

Energetica

de

Minas

Gerais

2,638,336‌

531,730

Cia

Siderurgica

Nacional

S.A.

1,240,273‌

958,683

Cosan

SA

Industria

e

Comercio

2,994,844‌

182,180

CPFL

Energia

S.A.

1,208,330‌

161,000

Energisa

S.A.

1,488,414‌

685,700

(a)

Eneva

S.A.

1,471,567‌

153,525

Engie

Brasil

Energia

S.A.

1,196,714‌

818,652

Equatorial

Energia

S.A.

5,131,036‌

957,183

Gerdau

S.A.

(Preference)

4,133,064‌

4,493,650

(a),(b)

Hapvida

Participacoes

e

Investimentos

S.A.

3,288,852‌

280,403

Hypera

S.A.

1,684,615‌

4,011,723

Investimentos

Itau

S.A.

-

PR

6,874,852‌

3,935,053

Itau

Unibanco

Holding

S.A.

20,932,835‌

58,744

(a)

Itausa

S.A.

99,970‌

610,033

Klabin

S.A.

2,589,320‌

722,598

Localiza

Rent

A

Car

7,290,834‌

780,854

Lojas

Renner

S.A.

1,898,799‌

2,753,260

(a)

Magazine

Luiza

S.A.

726,303‌

700,419

(a)

Natura

&

Co

Holding

S.A.

1,771,278‌

763,585

(a)

Petro

Rio

S.A.

7,224,278‌

3,238,678

Petroleo

Brasileiro

S.A.

24,307,349‌

4,095,225

Petroleo

Brasileiro

S.A.

(Preference)

28,218,003‌

1,041,795

Raia

Drogasil

S.A.

5,331,147‌

470,488

(b)

Rede

D'Or

Sao

Luiz

S.A.

2,017,544‌

1,043,427

Rumo

S.A.

4,617,217‌

1,110,019

Sendas

Distribuidora

S.A.

2,408,610‌

652,487

Suzano

SA

6,674,023‌

345,721

Telefonica

Brasil

S.A.

3,102,180‌

675,766

TIM

S.A.

2,033,296‌

390,000

TOTVS

S.A.

1,957,832‌

592,760

Ultrapar

Participacoes

S.A.

2,404,312‌

2,786,642

Vale

S.A.

38,137,214‌

956,127

Vibra

Energia

S.A.

3,753,013‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

150

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

BRAZIL—continued

1,356,134

WEG

S.A.

$

8,879,057‌

TOTAL

BRAZIL

275,995,579‌

CHILE

-

0

.5

%

38,210,903

Banco

de

Chile

3,924,866‌

56,402

Banco

de

Credito

e

Inversiones

1,348,606‌

48,722,070

Banco

Santander

Chile

S.A.

2,123,475‌

1,152,948

Cencosud

S.A.

1,867,905‌

104,410

Cia

Cervecerias

Unidas

S.A.

593,021‌

12,576,205

Cia

Sud

Americana

de

Vapores

S.A.

698,354‌

922,806

Empresas

CMPC

S.A.

1,649,709‌

336,199

Empresas

COPEC

S.A.

2,225,675‌

22,752,382

Enel

Chile

S.A.

1,346,666‌

18,656,126

(a)

Enersis

S.A.

1,918,058‌

725,430

(a)

SACI

Falabella

1,477,759‌

117,562

Sociedad

Quimica

y

Minera

de

Chile

S.A.

(Class

B)

5,693,301‌

TOTAL

CHILE

24,867,395‌

CHINA

-

29

.2

%

97,500

360

Finance,

Inc

(ADR)

1,442,025‌

351,500

360

Security

Technology,

Inc

431,897‌

125,000

37

Interactive

Entertainment

Network

Technology

Group

Co

Ltd

353,571‌

3,485

3peak,

Inc

76,733‌

1,670,500

(b)

3SBio,

Inc

1,486,147‌

667,000

(c)

AAC

Technologies

Holdings,

Inc

1,200,624‌

45,400

Accelink

Technologies

Co

Ltd

167,292‌

30,375

Advanced

Micro-Fabrication

Equipment,

Inc

China

711,452‌

38,500

AECC

Aero-Engine

Control

Co

Ltd

109,293‌

135,300

AECC

Aviation

Power

Co

Ltd

654,230‌

25,467,043

Agricultural

Bank

of

China

Ltd

9,406,415‌

4,666,600

Agricultural

Bank

of

China

Ltd

(Class

A)

2,290,037‌

455,170

Aier

Eye

Hospital

Group

Co

Ltd

1,137,983‌

32,000

AIMA

Technology

Group

Co

Ltd

122,893‌

499,090

(a)

Air

China

Ltd

547,323‌

1,602,000

(a)

Air

China

Ltd

(H

shares)

1,089,853‌

110,530

Airtac

International

Group

3,633,959‌

397,000

(a),(b)

Akeso,

Inc

2,229,375‌

13,442,677

(a)

Alibaba

Group

Holding

Ltd

138,393,339‌

4,500,284

(a)

Alibaba

Health

Information

Technology

Ltd

2,651,020‌

3,504,000

Aluminum

Corp

of

China

Ltd

1,874,397‌

785,700

Aluminum

Corp

of

China

Ltd

(Class

A)

665,810‌

15,390

(a)

Amlogic

Shanghai

Co

Ltd

126,442‌

37,600

Angel

Yeast

Co

Ltd

179,777‌

1,145,282

Anhui

Conch

Cement

Co

Ltd

2,850,257‌

234,700

Anhui

Conch

Cement

Co

Ltd

(Class

A)

776,158‌

88,358

Anhui

Gujing

Distillery

Co

Ltd

1,377,185‌

20,900

Anhui

Gujing

Distillery

Co

Ltd

(Class

A)

796,538‌

19,760

Anhui

Honglu

Steel

Construction

Group

Co

Ltd

67,878‌

119,100

(a)

Anhui

Jianghuai

Automobile

Group

Corp

Ltd

295,155‌

28,400

Anhui

Kouzi

Distillery

Co

Ltd

194,899‌

28,600

Anhui

Yingjia

Distillery

Co

Ltd

299,854‌

18,200

Anker

Innovations

Technology

Co

Ltd

233,117‌

1,050,486

Anta

Sports

Products

Ltd

11,880,459‌

56,400

Apeloa

Pharmaceutical

Co

Ltd

132,928‌

45,700

(a)

Asia-Potash

International

Investment

Guangzhou

Co

Ltd

178,150‌

17,929

(a)

ASR

Microelectronics

Co

Ltd

159,810‌

15,400

Asymchem

Laboratories

Tianjin

Co

Ltd

317,796‌

30,100

Autobio

Diagnostics

Co

Ltd

182,884‌

56,100

Autohome,

Inc

(ADR)

1,500,675‌

84,800

Avary

Holding

Shenzhen

Co

Ltd

248,489‌

294,858

AVIC

Industry-Finance

Holdings

Co

Ltd

134,267‌

151

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

1,054,861

AviChina

Industry

&

Technology

Co

Ltd

$

478,081‌

14,700

AVICOPTER

plc

76,302‌

449,300

(a)

BAIC

BluePark

New

Energy

Technology

Co

Ltd

421,083‌

1,844,162

(a)

Baidu,

Inc

24,211,636‌

1,235,616

Bank

of

Beijing

Co

Ltd

770,408‌

259,086

Bank

of

Changsha

Co

Ltd

260,253‌

155,305

Bank

of

Chengdu

Co

Ltd

262,475‌

2,077,343

Bank

of

China

Ltd

-

A

1,107,286‌

67,182,425

Bank

of

China

Ltd

-

H

23,469,175‌

2,235,200

Bank

of

Communications

Co

Ltd

-

A

1,719,892‌

8,008,934

Bank

of

Communications

Co

Ltd

-

H

4,737,330‌

259,700

Bank

of

Hangzhou

Co

Ltd

379,837‌

728,110

Bank

of

Jiangsu

Co

Ltd

686,896‌

516,900

Bank

of

Nanjing

Co

Ltd

554,005‌

342,168

Bank

of

Ningbo

Co

Ltd

1,168,507‌

861,309

Bank

of

Shanghai

Co

Ltd

714,716‌

320,800

Bank

of

Suzhou

Co

Ltd

275,422‌

1,134,400

Baoshan

Iron

&

Steel

Co

Ltd

970,396‌

569,026

(a)

BeiGene

Ltd

8,168,866‌

1,828,830

(a)

Beijing

Capital

International

Airport

Co

Ltd

673,626‌

264,900

Beijing

Dabeinong

Technology

Group

Co

Ltd

253,023‌

19,500

Beijing

Easpring

Material

Technology

Co

Ltd

117,576‌

45,900

Beijing

E-Hualu

Information

Technology

Co

Ltd

182,051‌

178,400

Beijing

Enlight

Media

Co

Ltd

190,768‌

447,000

Beijing

Enterprises

Holdings

Ltd

1,489,341‌

3,803,583

Beijing

Enterprises

Water

Group

Ltd

802,576‌

24,376

Beijing

Kingsoft

Office

Software,

Inc

958,773‌

79,600

Beijing

New

Building

Materials

plc

266,137‌

61,400

Beijing

Oriental

Yuhong

Waterproof

Technology

Co

Ltd

209,021‌

6,511

Beijing

Roborock

Technology

Co

Ltd

281,447‌

159,624

Beijing

Shiji

Information

Technology

Co

Ltd

230,237‌

81,100

Beijing

Tiantan

Biological

Products

Corp

Ltd

319,960‌

70,200

Beijing

Tongrentang

Co

Ltd

492,626‌

35,206

Beijing

United

Information

Technology

Co

Ltd

181,234‌

33,698

Beijing

Wantai

Biological

Pharmacy

Enterprise

Co

Ltd

202,082‌

224,900

Beijing

Yanjing

Brewery

Co

Ltd

319,701‌

1,626,500

Beijing-Shanghai

High

Speed

Railway

Co

Ltd

1,111,800‌

399,700

(a)

Beiqi

Foton

Motor

Co

Ltd

165,667‌

11,800

Bethel

Automotive

Safety

Systems

Co

Ltd

122,109‌

14,000

Betta

Pharmaceuticals

Co

Ltd

116,441‌

16,700

BGI

Genomics

Co

Ltd

112,298‌

165,067

(a)

Bilibili,

Inc

2,214,825‌

26,921

Bloomage

Biotechnology

Corp

Ltd

281,388‌

186,900

(b)

BOC

Aviation

Ltd

1,149,450‌

162,200

BOC

International

China

Co

Ltd

241,725‌

2,261,500

BOE

Technology

Group

Co

Ltd

1,212,142‌

2,784,000

(c)

Bosideng

International

Holdings

Ltd

1,099,205‌

76,400

BTG

Hotels

Group

Co

Ltd

174,415‌

86,900

BYD

Co

Ltd

2,835,501‌

856,537

BYD

Co

Ltd

(H

shares)

26,047,380‌

668,500

BYD

Electronic

International

Co

Ltd

2,790,661‌

113,600

By-health

Co

Ltd

284,420‌

603,575

C&D

International

Investment

Group

Ltd

1,357,904‌

383,350

Caitong

Securities

Co

Ltd

416,156‌

22,695

(a)

Cambricon

Technologies

Corp

Ltd

334,960‌

36,400

Canmax

Technologies

Co

Ltd

135,375‌

353,100

CECEP

Solar

Energy

Co

Ltd

277,046‌

339,170

CECEP

Wind-Power

Corp

146,997‌

9,886,000

(b)

CGN

Power

Co

Ltd

2,375,680‌

16,900

Changchun

High

&

New

Technology

Industry

Group,

Inc

359,691‌

269,545

Changjiang

Securities

Co

Ltd

209,638‌

12,800

Changzhou

Xingyu

Automotive

Lighting

Systems

Co

Ltd

255,717‌

127,100

Chaozhou

Three-Circle

Group

Co

Ltd

536,680‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

152

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

38,600

Chengxin

Lithium

Group

Co

Ltd

$

123,965‌

59,600

(a)

Chifeng

Jilong

Gold

Mining

Co

Ltd

119,964‌

48,200

China

Baoan

Group

Co

Ltd

68,086‌

8,164,097

China

Cinda

Asset

Management

Co

Ltd

793,900‌

8,402,530

China

Citic

Bank

3,748,436‌

2,215,000

China

Coal

Energy

Co

1,739,808‌

2,790,000

China

Communications

Services

Corp

Ltd

1,141,183‌

1,356,500

China

Conch

Venture

Holdings

Ltd

1,123,417‌

791,800

China

Construction

Bank

Corp

-

A

678,405‌

79,753,641

China

Construction

Bank

Corp

-

H

45,105,302‌

257,400

China

CSSC

Holdings

Ltd

910,699‌

469,600

(a)

China

Eastern

Airlines

Corp

Ltd

279,844‌

1,330,900

China

Energy

Engineering

Corp

Ltd

396,641‌

2,820,000

China

Everbright

Bank

Co

Ltd

-

A

1,144,511‌

4,574,000

China

Everbright

Bank

Co

Ltd

-

H

1,304,717‌

2,873,888

China

Everbright

Environment

Group

Ltd

981,078‌

3,307,000

(b)

China

Feihe

Ltd

2,054,877‌

119,000

China

Film

Co

Ltd

194,415‌

3,396,245

China

Galaxy

Securities

Co

Ltd

1,738,226‌

285,900

China

Galaxy

Securities

Co

Ltd

(Class

A)

474,052‌

2,487,268

China

Gas

Holdings

Ltd

2,236,070‌

213,400

China

Great

Wall

Securities

Co

Ltd

243,779‌

74,800

China

Greatwall

Technology

Group

Co

Ltd

112,401‌

2,072,000

(c)

China

Hongqiao

Group

Ltd

1,939,834‌

2,230,000

(a),(d)

China

Huishan

Dairy

Holdings

Co

Ltd

2,850‌

1,324,224

China

Insurance

International

Holdings

Co

Ltd

1,223,286‌

95,000

China

International

Capital

Corp

Ltd

478,558‌

1,297,006

(b)

China

International

Capital

Corp

Ltd

2,065,814‌

2,718,000

China

Jinmao

Holdings

Group

Ltd

333,381‌

182,544

China

Jushi

Co

Ltd

288,897‌

6,300,880

China

Life

Insurance

Co

Ltd

8,533,901‌

156,500

China

Life

Insurance

Co

Ltd

(Class

A)

718,729‌

325,000

(a),(b)

China

Literature

Ltd

1,094,431‌

2,800,341

China

Longyuan

Power

Group

Corp

Ltd

2,370,566‌

1,186,000

China

Medical

System

Holdings

Ltd

1,896,530‌

74,340

China

Meheco

Co

Ltd

121,476‌

510,000

China

Meidong

Auto

Holdings

Ltd

273,508‌

2,655,000

China

Mengniu

Dairy

Co

Ltd

8,668,938‌

3,254,368

China

Merchants

Bank

Co

Ltd

12,344,766‌

1,081,095

China

Merchants

Bank

Co

Ltd

(Class

A)

4,548,331‌

511,900

China

Merchants

Energy

Shipping

Co

Ltd

449,778‌

1,342,894

China

Merchants

Holdings

International

Co

Ltd

1,709,415‌

351,020

China

Merchants

Securities

Co

Ltd

678,562‌

438,000

China

Merchants

Shekou

Industrial

Zone

Holdings

Co

Ltd

660,664‌

1,804,058

China

Minsheng

Banking

Corp

Ltd

-

A

917,054‌

6,538,014

(c)

China

Minsheng

Banking

Corp

Ltd

-

H

2,173,633‌

3,249,000

China

Molybdenum

Co

Ltd

1,937,739‌

918,300

China

Molybdenum

Co

Ltd

(Class

A)

696,267‌

3,351,913

China

National

Building

Material

Co

Ltd

1,595,495‌

256,700

China

National

Chemical

Engineering

Co

Ltd

245,682‌

59,700

China

National

Medicines

Corp

Ltd

234,783‌

929,300

China

National

Nuclear

Power

Co

Ltd

942,632‌

170,900

China

Northern

Rare

Earth

Group

High-Tech

Co

Ltd

488,295‌

2,050,773

China

Oilfield

Services

Ltd

2,424,669‌

1,977,294

China

Overseas

Land

&

Investment

Ltd

3,731,369‌

665,000

China

Overseas

Property

Holdings

Ltd

577,540‌

346,400

China

Pacific

Insurance

Group

Co

Ltd

-

A

1,313,284‌

2,252,619

China

Pacific

Insurance

Group

Co

Ltd

-

H

5,549,030‌

4,296,000

(c)

China

Power

International

Development

Ltd

1,669,578‌

1,165,611

China

Railway

Group

Ltd

-

A

963,870‌

3,970,000

China

Railway

Group

Ltd

-

H

1,873,697‌

812,263

China

Railway

Signal

&

Communication

Corp

Ltd

521,435‌

153

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

77,800

China

Rare

Earth

Resources

And

Technology

Co

Ltd

$

318,992‌

1,365,071

China

Resources

Beer

Holdings

Company

Ltd

7,223,500‌

2,157,226

China

Resources

Cement

Holdings

Ltd

554,685‌

860,500

China

Resources

Gas

Group

Ltd

2,543,744‌

2,743,555

China

Resources

Land

Ltd

10,269,417‌

45,334

China

Resources

Microelectronics

Ltd

329,635‌

616,807

(b)

China

Resources

Mixc

Lifestyle

Services

Ltd

2,406,421‌

1,519,846

(b)

China

Resources

Pharmaceutical

Group

Ltd

944,122‌

1,577,372

China

Resources

Power

Holdings

Co

3,056,773‌

49,425

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Co

Ltd

291,359‌

4,198,904

(a),(c)

China

Ruyi

Holdings

Ltd

966,909‌

440,200

China

Shenhua

Energy

Co

Ltd

-

A

1,822,914‌

2,927,000

China

Shenhua

Energy

Co

Ltd

-

H

8,971,168‌

1,250,000

China

Shipping

Development

Co

Ltd

1,325,665‌

1,784,000

(a)

China

Southern

Airlines

Co

Ltd

844,168‌

454,500

(a)

China

Southern

Airlines

Co

Ltd

(Class

A)

383,676‌

2,240,710

China

State

Construction

Engineering

Corp

Ltd

1,585,814‌

1,770,000

China

State

Construction

International

Holdings

Ltd

1,895,917‌

1,369,000

China

Three

Gorges

Renewables

Group

Co

Ltd

898,339‌

70,763

(b),(c)

China

Tourism

Group

Duty

Free

Corp

Ltd

799,141‌

91,800

China

Tourism

Group

Duty

Free

Corp

Ltd

1,187,310‌

23,716,778

(b)

China

Tower

Corp

Ltd

2,211,606‌

1,926,800

China

Vanke

Co

Ltd

1,802,629‌

551,200

China

Vanke

Co

Ltd

(Class

A)

852,580‌

323,200

China

XD

Electric

Co

Ltd

204,229‌

739,000

China

Yangtze

Power

Co

Ltd

2,279,742‌

16,100

China

Zhenhua

Group

Science

&

Technology

Co

Ltd

147,288‌

710,815

China

Zheshang

Bank

Co

Ltd

247,848‌

2,302,000

Chinasoft

International

Ltd

1,670,140‌

14,700

Chongqing

Brewery

Co

Ltd

157,720‌

320,866

Chongqing

Changan

Automobile

Co

Ltd

664,018‌

34,450

Chongqing

Fuling

Zhacai

Group

Co

Ltd

72,747‌

1,012,352

Chongqing

Rural

Commercial

Bank

Co

Ltd

588,111‌

35,600

(a)

Chongqing

Taiji

Industry

Group

Co

Ltd

202,418‌

100,200

Chongqing

Zhifei

Biological

Products

Co

Ltd

858,789‌

1,650,833

Chow

Tai

Fook

Jewellery

Group

Ltd

2,331,181‌

5,353,738

Citic

Pacific

Ltd

4,550,345‌

1,623,732

CITIC

Securities

Co

Ltd

3,159,550‌

643,480

CITIC

Securities

Co

Ltd

(Class

A)

1,910,072‌

17,500

CNGR

Advanced

Material

Co

Ltd

130,175‌

130,065

CNNC

Hua

Yuan

Titanium

Dioxide

Co

Ltd

84,685‌

394,800

CNPC

Capital

Co

Ltd

320,253‌

220,580

Contemporary

Amperex

Technology

Co

Ltd

5,600,924‌

1,418,196

COSCO

Pacific

Ltd

855,586‌

317,000

COSCO

SHIPPING

Development

Co

Ltd

99,637‌

171,200

COSCO

SHIPPING

Energy

Transportation

Co

Ltd

337,365‌

615,810

COSCO

SHIPPING

Holdings

Co

Ltd

-

A

822,845‌

2,631,800

COSCO

SHIPPING

Holdings

Co

Ltd

-

H

2,676,638‌

10,881,496

(c)

Country

Garden

Holdings

Co

Ltd

973,053‌

1,917,000

(c)

Country

Garden

Services

Holdings

Co

Ltd

1,674,513‌

188,900

CSC

Financial

Co

Ltd

624,684‌

7,405,489

CSPC

Pharmaceutical

Group

Ltd

6,468,467‌

21,400

Dajin

Heavy

Industry

Co

Ltd

81,058‌

1,013,400

Daqin

Railway

Co

Ltd

998,430‌

47,000

(a)

Daqo

New

Energy

Corp

(ADR)

1,196,620‌

69,120

DaShenLin

Pharmaceutical

Group

Co

Ltd

224,983‌

324,600

Datang

International

Power

Generation

Co

Ltd

114,913‌

66,900

DHC

Software

Co

Ltd

57,647‌

47,880

Do-Fluoride

New

Materials

Co

Ltd

104,724‌

56,200

Dong-E-E-Jiao

Co

Ltd

356,520‌

145,100

Dongfang

Electric

Corp

Ltd

295,597‌

2,393,917

Dongfeng

Motor

Group

Co

Ltd

1,053,860‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

154

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

82,600

Dongxing

Securities

Co

Ltd

$

90,329‌

1,380,000

Dongyue

Group

Ltd

1,099,238‌

317,707

(a),(b),(c)

East

Buy

Holding

Ltd

1,296,086‌

742,185

East

Money

Information

Co

Ltd

1,548,602‌

13,300

Eastroc

Beverage

Group

Co

Ltd

349,194‌

18,900

Ecovacs

Robotics

Co

Ltd

111,570‌

670,428

ENN

Energy

Holdings

Ltd

5,078,587‌

115,700

ENN

Natural

Gas

Co

Ltd

273,051‌

37,600

Eoptolink

Technology,

Inc

Ltd

162,154‌

95,861

Eve

Energy

Co

Ltd

608,021‌

182,800

Everbright

Securities

Co

Ltd

411,462‌

142,860

Fangda

Carbon

New

Material

Co

Ltd

115,222‌

1,007,000

Far

East

Horizon

Ltd

708,562‌

30,384

(a)

Farasis

Energy

Gan

Zhou

Co

Ltd

73,178‌

93,400

FAW

Jiefang

Group

Co

Ltd

117,688‌

178,400

First

Capital

Securities

Co

Ltd

142,663‌

95,600

Flat

Glass

Group

Co

Ltd

337,593‌

341,000

(c)

Flat

Glass

Group

Co

Ltd

612,395‌

845,140

Focus

Media

Information

Technology

Co

Ltd

798,884‌

229,564

Foshan

Haitian

Flavouring

&

Food

Co

Ltd

1,181,454‌

2,145,452

Fosun

International

1,285,427‌

365,800

Founder

Securities

Co

Ltd

379,116‌

534,200

Foxconn

Industrial

Internet

Co

Ltd

1,076,323‌

9,600

Fu

Jian

Anjoy

Foods

Co

Ltd

169,555‌

68,400

Fujian

Sunner

Development

Co

Ltd

168,229‌

89,400

Fuyao

Glass

Industry

Group

Co

Ltd

-

A

454,880‌

482,898

(b)

Fuyao

Glass

Industry

Group

Co

Ltd

-

H

2,201,576‌

36,061

GalaxyCore,

Inc

90,785‌

70,440

Ganfeng

Lithium

Group

Co

Ltd

426,771‌

328,520

(b)

Ganfeng

Lithium

Group

Co

Ltd

1,179,969‌

5,000

G-bits

Network

Technology

Xiamen

Co

Ltd

181,741‌

16,191,795

GCL

Technology

Holdings

Ltd

2,384,525‌

1,118,283

GD

Power

Development

Co

Ltd

556,286‌

795,000

(a)

GDS

Holdings

Ltd

1,012,784‌

4,981,828

Geely

Automobile

Holdings

Ltd

5,655,993‌

268,600

GEM

Co

Ltd

215,223‌

300,600

Gemdale

Corp

212,132‌

956,000

(a)

Genscript

Biotech

Corp

2,779,251‌

924,600

GF

Securities

Co

Ltd

1,203,794‌

293,100

GF

Securities

Co

Ltd

(Class

A)

594,572‌

152,800

Giant

Network

Group

Co

Ltd

246,590‌

27,468

GigaDevice

Semiconductor,

Inc

402,296‌

18,750

Ginlong

Technologies

Co

Ltd

172,017‌

136,500

GoerTek,

Inc

336,987‌

23,600

Gongniu

Group

Co

Ltd

341,063‌

3,336

GoodWe

Technologies

Co

Ltd

53,283‌

70,200

Gotion

High-tech

Co

Ltd

218,545‌

1,964,766

(c)

Great

Wall

Motor

Co

Ltd

2,746,532‌

131,400

Great

Wall

Motor

Co

Ltd

527,905‌

160,900

Gree

Electric

Appliances,

Inc

of

Zhuhai

746,267‌

518,900

Greenland

Holdings

Corp

Ltd

180,833‌

895,000

Greentown

China

Holdings

Ltd

868,276‌

143,700

GRG

Banking

Equipment

Co

Ltd

229,309‌

83,900

Guangdong

Haid

Group

Co

Ltd

516,462‌

128,400

(a)

Guangdong

HEC

Technology

Holding

Co

Ltd

124,900‌

2,596,000

Guangdong

Investments

Ltd

1,771,463‌

851,787

Guanghui

Energy

Co

Ltd

874,431‌

222,800

Guangzhou

Automobile

Group

Co

Ltd

305,334‌

2,684,851

Guangzhou

Automobile

Group

Co

Ltd

-

H

1,257,847‌

172,200

Guangzhou

Baiyun

International

Airport

Co

Ltd

249,281‌

74,100

Guangzhou

Baiyunshan

Pharmaceutical

Holdings

Co

Ltd

301,891‌

22,800

Guangzhou

Great

Power

Energy

&

Technology

Co

Ltd

96,122‌

155

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

41,100

Guangzhou

Haige

Communications

Group,

Inc

Co

$

65,267‌

25,700

Guangzhou

Kingmed

Diagnostics

Group

Co

Ltd

217,492‌

36,672

Guangzhou

Shiyuan

Electronic

Technology

Co

Ltd

210,645‌

86,900

Guangzhou

Tinci

Materials

Technology

Co

Ltd

330,620‌

181,400

Guangzhou

Yuexiu

Capital

Holdings

Group

Co

Ltd

162,741‌

122,100

Guolian

Securities

Co

Ltd

179,520‌

280,600

Guosen

Securities

Co

Ltd

368,571‌

365,300

Guotai

Junan

Securities

Co

Ltd

737,796‌

339,630

Guoyuan

Securities

Co

Ltd

321,411‌

1,404,000

(b)

Haidilao

International

Holding

Ltd

3,515,342‌

2,030,000

Haier

Smart

Home

Co

Ltd

5,790,228‌

285,400

Haier

Smart

Home

Co

Ltd

867,139‌

2,100,900

(a)

Hainan

Airlines

Holding

Co

Ltd

419,330‌

650,200

(a)

Hainan

Airport

Infrastructure

Co

Ltd

338,681‌

549,000

Haitian

International

Holdings

Ltd

1,309,684‌

2,679,600

Haitong

Securities

Co

Ltd

1,538,588‌

394,700

Haitong

Securities

Co

Ltd

(Class

A)

527,154‌

56,900

Hang

Zhou

Great

Star

Industrial

Co

Ltd

154,156‌

157,300

Hangzhou

Binjiang

Real

Estate

Group

Co

Ltd

180,033‌

21,700

Hangzhou

Chang

Chuan

Technology

Co

Ltd

121,176‌

79,850

Hangzhou

First

Applied

Material

Co

Ltd

278,989‌

27,700

Hangzhou

Lion

Electronics

Co

Ltd

121,852‌

63,300

Hangzhou

Oxygen

Plant

Group

Co

Ltd

285,616‌

44,600

Hangzhou

Robam

Appliances

Co

Ltd

140,707‌

46,500

Hangzhou

Silan

Microelectronics

Co

Ltd

154,395‌

16,000

Hangzhou

Tigermed

Consulting

Co

Ltd

-

A

145,972‌

990,000

(b)

Hansoh

Pharmaceutical

Group

Co

Ltd

1,862,678‌

29,600

Haohua

Chemical

Science

&

Technology

Co

Ltd

124,415‌

60,300

Hebei

Hengshui

Laobaigan

Liquor

Co

Ltd

196,104‌

97,500

Hebei

Yangyuan

Zhihui

Beverage

Co

Ltd

331,731‌

87,000

Heilongjiang

Agriculture

Co

Ltd

151,490‌

114,500

Henan

Shenhuo

Coal

&

Power

Co

Ltd

257,380‌

220,570

Henan

Shuanghui

Investment

&

Development

Co

Ltd

789,458‌

554,500

Hengan

International

Group

Co

Ltd

1,857,186‌

77,700

Hengdian

Group

DMEGC

Magnetics

Co

Ltd

154,704‌

370,520

Hengli

Petrochemical

Co

Ltd

742,248‌

127,300

Hengtong

Optic-electric

Co

Ltd

229,523‌

354,660

Hengyi

Petrochemical

Co

Ltd

348,647‌

768,900

Hesteel

Co

Ltd

235,407‌

81,700

Hisense

Visual

Technology

Co

Ltd

259,999‌

26,100

Hithink

RoyalFlush

Information

Network

Co

Ltd

501,267‌

24,340

Hongfa

Technology

Co

Ltd

96,583‌

41,000

Hoshine

Silicon

Industry

Co

Ltd

320,808‌

3,485

Hoymiles

Power

Electronics,

Inc

106,723‌

22,693

Hoyuan

Green

Energy

Co

Ltd

115,882‌

469,051

(a),(b)

Hua

Hong

Semiconductor

Ltd

1,154,842‌

408,000

Huadian

Power

International

Corp

Ltd

(Class

A)

273,743‌

97,400

Huadong

Medicine

Co

Ltd

572,214‌

146,400

Huafon

Chemical

Co

Ltd

145,168‌

69,000

Huagong

Tech

Co

Ltd

266,639‌

240,100

Huaibei

Mining

Holdings

Co

Ltd

481,260‌

105,520

Hualan

Biological

Engineering,

Inc

338,551‌

469,900

Huaneng

Power

International,

Inc

-

A

488,643‌

3,747,110

Huaneng

Power

International,

Inc

-

H

1,753,467‌

1,199,000

(b)

Huatai

Securities

Co

Ltd

1,569,733‌

216,000

Huatai

Securities

Co

Ltd

(Class

A)

473,376‌

135,500

Huaxi

Securities

Co

Ltd

146,815‌

692,419

Huaxia

Bank

Co

Ltd

530,083‌

154,873

Huayu

Automotive

Systems

Co

Ltd

371,425‌

170,906

(a)

Huazhu

Group

Ltd

(ADR)

6,436,320‌

28,400

Hubei

Feilihua

Quartz

Glass

Co

Ltd

153,764‌

25,500

Hubei

Jumpcan

Pharmaceutical

Co

Ltd

94,471‌

47,800

Hubei

Xingfa

Chemicals

Group

Co

Ltd

128,404‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

156

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

24,100

Huizhou

Desay

Sv

Automotive

Co

Ltd

$

413,701‌

93,600

Humanwell

Healthcare

Group

Co

Ltd

299,241‌

45,719

Hunan

Changyuan

Lico

Co

Ltd

53,293‌

389,400

Hunan

Valin

Steel

Co

Ltd

310,234‌

98,096

Hundsun

Technologies,

Inc

417,719‌

288,200

(b)

Hygeia

Healthcare

Holdings

Co

Ltd

1,740,171‌

121,200

Iflytek

Co

Ltd

755,993‌

10,900

Imeik

Technology

Development

Co

Ltd

491,420‌

3,456,505

Industrial

&

Commercial

Bank

of

China

Ltd

-

A

2,235,094‌

54,406,777

Industrial

&

Commercial

Bank

of

China

Ltd

-

H

26,074,148‌

1,101,200

Industrial

Bank

Co

Ltd

2,270,565‌

376,480

Industrial

Securities

Co

Ltd

321,214‌

22,800

Ingenic

Semiconductor

Co

Ltd

230,255‌

1,909,400

Inner

Mongolia

BaoTou

Steel

Union

Co

Ltd

423,024‌

140,900

Inner

Mongolia

Dian

Tou

Energy

Corp

Ltd

262,108‌

343,300

Inner

Mongolia

Junzheng

Energy

&

Chemical

Industry

Group

Co

Ltd

187,732‌

323,600

Inner

Mongolia

Yili

Industrial

Group

Co

Ltd

1,213,114‌

1,009,400

Inner

Mongolia

Yitai

Coal

Co

1,385,370‌

186,500

Inner

Mongolia

Yuan

Xing

Energy

Co

Ltd

173,474‌

958,737

(a),(b)

Innovent

Biologics,

Inc

5,649,989‌

76,900

Inspur

Electronic

Information

Industry

Co

Ltd

308,836‌

364,185

(a)

iQIYI,

Inc

(ADR)

1,697,102‌

3,802

iRay

Technology

Co

Ltd

116,090‌

52,500

Isoftstone

Information

Technology

Group

Co

Ltd

256,717‌

159,684

JA

Solar

Technology

Co

Ltd

489,172‌

23,660

Jason

Furniture

Hangzhou

Co

Ltd

119,766‌

926,799

(a),(b)

JD

Health

International,

Inc

4,209,778‌

1,668,300

(a),(b)

JD

Logistics,

Inc

1,975,426‌

1,924,584

JD.com,

Inc

24,467,539‌

302,900

Jiangsu

Eastern

Shenghong

Co

Ltd

440,629‌

1,280,000

Jiangsu

Express

1,163,703‌

63,456

Jiangsu

Hengli

Hydraulic

Co

Ltd

488,355‌

324,119

Jiangsu

Hengrui

Pharmaceuticals

Co

Ltd

2,122,331‌

76,300

Jiangsu

King's

Luck

Brewery

JSC

Ltd

610,043‌

55,400

Jiangsu

Nhwa

Pharmaceutical

Co

Ltd

199,096‌

17,700

Jiangsu

Pacific

Quartz

Co

Ltd

222,514‌

151,400

Jiangsu

Phoenix

Publishing

&

Media

Corp

Ltd

198,816‌

72,700

Jiangsu

Yanghe

Brewery

Joint-Stock

Co

Ltd

1,212,255‌

11,050

Jiangsu

Yangnong

Chemical

Co

Ltd

102,015‌

28,500

Jiangsu

Yoke

Technology

Co

Ltd

225,022‌

58,800

Jiangsu

Yuyue

Medical

Equipment

&

Supply

Co

Ltd

270,388‌

157,000

Jiangsu

Zhongtian

Technology

Co

Ltd

300,684‌

992,000

Jiangxi

Copper

Co

Ltd

1,402,644‌

100,300

Jiangxi

Copper

Co

Ltd

(Class

A)

251,383‌

68,300

(a)

Jiangxi

Special

Electric

Motor

Co

Ltd

111,813‌

206,300

Jinduicheng

Molybdenum

Co

Ltd

283,178‌

291,207

Jinko

Solar

Co

Ltd

377,789‌

13,800

JiuGui

Liquor

Co

Ltd

144,160‌

768,000

(b),(c)

Jiumaojiu

International

Holdings

Ltd

835,674‌

266,200

Jizhong

Energy

Resources

Co

Ltd

233,654‌

49,000

Joincare

Pharmaceutical

Group

Industry

Co

Ltd

79,407‌

295,639

Jointown

Pharmaceutical

Group

Co

Ltd

287,636‌

51,500

Jonjee

Hi-Tech

Industrial

And

Commercial

Holding

Co

Ltd

236,549‌

38,604

JOYY,

Inc

(ADR)

1,502,468‌

30,900

Juewei

Food

Co

Ltd

149,193‌

62,000

Juneyao

Airlines

Co

Ltd

123,617‌

180,100

(a)

Kanzhun

Ltd

(ADR)

2,665,480‌

545,794

KE

Holdings,

Inc

(ADR)

8,028,630‌

73,400

Keda

Industrial

Group

Co

Ltd

109,312‌

587,881

Kingboard

Chemical

Holdings

Ltd

1,431,652‌

2,264,000

(a)

Kingdee

International

Software

Group

Co

Ltd

3,004,029‌

157

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

123,800

Kingnet

Network

Co

Ltd

$

181,011‌

795,800

Kingsoft

Corp

Ltd

2,776,926‌

1,908,501

(a),(b)

Kuaishou

Technology

12,290,452‌

98,000

Kuang-Chi

Technologies

Co

Ltd

187,438‌

71,100

Kunlun

Tech

Co

Ltd

305,963‌

61,643

Kweichow

Moutai

Co

Ltd

14,196,609‌

139,300

LB

Group

Co

Ltd

354,524‌

6,069,856

Lenovo

Group

Ltd

7,063,681‌

202,900

Lens

Technology

Co

Ltd

362,466‌

50,700

Lepu

Medical

Technology

Beijing

Co

Ltd

119,439‌

925,010

(a)

Li

Auto,

Inc

15,645,276‌

1,925,000

Li

Ning

Co

Ltd

5,898,976‌

1,389,900

Liaoning

Port

Co

Ltd

286,784‌

216,700

Lingyi

iTech

Guangdong

Co

180,124‌

22,100

Livzon

Pharmaceutical

Group,

Inc

105,727‌

1,669,000

(b)

Longfor

Group

Holdings

Ltd

2,429,664‌

369,224

LONGi

Green

Energy

Technology

Co

Ltd

1,218,686‌

559,038

Lufax

Holding

Ltd

(ADR)

533,769‌

128,700

Luxi

Chemical

Group

Co

Ltd

199,763‌

332,053

Luxshare

Precision

Industry

Co

Ltd

1,490,957‌

73,100

Luzhou

Laojiao

Co

Ltd

2,141,034‌

108,370

Mango

Excellent

Media

Co

Ltd

374,574‌

20,320

Maxscend

Microelectronics

Co

Ltd

419,219‌

195,200

Meihua

Holdings

Group

Co

Ltd

253,515‌

216,928

(a)

Meinian

Onehealth

Healthcare

Holdings

Co

Ltd

182,873‌

4,152,529

(a),(b)

Meituan

58,862,116‌

966,700

Metallurgical

Corp

of

China

Ltd

437,416‌

652,000

Microport

Scientific

Corp

1,027,402‌

116,800

Ming

Yang

Smart

Energy

Group

Ltd

223,273‌

77,700

MINISO

Group

Holding

Ltd

(ADR)

1,966,587‌

578,000

Minth

Group

Ltd

1,290,227‌

64,976

Montage

Technology

Co

Ltd

489,819‌

260,084

Muyuan

Foods

Co

Ltd

1,341,207‌

5,694

Nanjing

King-Friend

Biochemical

Pharmaceutical

Co

Ltd

9,847‌

191,000

Nanjing

Securities

Co

Ltd

209,998‌

359,827

NARI

Technology

Co

Ltd

1,110,974‌

134,469

(a)

National

Silicon

Industry

Group

Co

Ltd

333,673‌

28,700

NAURA

Technology

Group

Co

Ltd

1,006,539‌

124,400

NavInfo

Co

Ltd

170,149‌

1,590,219

NetEase,

Inc

34,033,149‌

104,200

New

China

Life

Insurance

Co

Ltd

-

A

476,187‌

817,200

New

China

Life

insurance

Co

Ltd

-

H

1,792,658‌

264,900

(a)

New

Hope

Liuhe

Co

Ltd

367,601‌

1,248,127

(a)

New

Oriental

Education

&

Technology

Group,

Inc

8,137,831‌

78,600

Ninestar

Corp

263,652‌

21,960

Ningbo

Deye

Technology

Co

Ltd

207,758‌

105,200

Ningbo

Joyson

Electronic

Corp

271,263‌

37,700

Ningbo

Orient

Wires

&

Cables

Co

Ltd

217,057‌

19,852

Ningbo

Ronbay

New

Energy

Technology

Co

Ltd

120,254‌

95,200

Ningbo

Shanshan

Co

Ltd

182,240‌

47,800

Ningbo

Tuopu

Group

Co

Ltd

422,209‌

361,400

Ningxia

Baofeng

Energy

Group

Co

Ltd

712,572‌

1,135,534

(a)

NIO,

Inc

(ADR)

8,289,398‌

1,462,100

(b),(c)

Nongfu

Spring

Co

Ltd

8,327,740‌

76,700

North

Industries

Group

Red

Arrow

Co

Ltd

149,546‌

211,900

(a)

Offcn

Education

Technology

Co

Ltd

114,453‌

207,326

Offshore

Oil

Engineering

Co

Ltd

176,141‌

27,740

Oppein

Home

Group,

Inc

330,083‌

295,680

Orient

Securities

Co

Ltd

350,665‌

293,000

Oriental

Pearl

Group

Co

Ltd

295,746‌

27,600

Ovctek

China,

Inc

95,174‌

384,500

(a)

Pangang

Group

Vanadium

Titanium

&

Resources

Co

Ltd

183,599‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

158

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

489,501

(a)

PDD

Holdings,

Inc

(ADR)

$

49,645,191‌

68,500

People.cn

Co

Ltd

303,275‌

8,099,220

People's

Insurance

Co

Group

of

China

Ltd

2,672,413‌

619,700

People's

Insurance

Co

Group

of

China

Ltd

(Class

A)

452,370‌

96,150

Perfect

World

Co

Ltd

157,813‌

55,800

Pharmaron

Beijing

Co

Ltd

-

A

253,750‌

5,794,306

PICC

Property

&

Casualty

Co

Ltd

6,616,837‌

980,700

Ping

An

Bank

Co

Ltd

1,402,673‌

479,000

(a),(b),(c)

Ping

An

Healthcare

and

Technology

Co

Ltd

1,118,910‌

5,536,692

Ping

An

Insurance

Group

Co

of

China

Ltd

28,084,732‌

531,900

Ping

An

Insurance

Group

Co

of

China

Ltd

(Class

A)

3,304,857‌

9,150

Piotech,

Inc

316,132‌

706,700

Poly

Developments

and

Holdings

Group

Co

Ltd

1,063,548‌

437,275

(b),(c)

Pop

Mart

International

Group

Ltd

1,207,103‌

1,345,778

Postal

Savings

Bank

of

China

Co

Ltd

-

A

840,634‌

7,032,000

(b)

Postal

Savings

Bank

of

China

Co

Ltd

-

H

3,209,608‌

856,300

Power

Construction

Corp

of

China

Ltd

615,723‌

1,403

Pylon

Technologies

Co

Ltd

21,844‌

27,608

(a)

Qi

An

Xin

Technology

Group,

Inc

174,140‌

264,300

(a)

Qinghai

Salt

Lake

Industry

Co

Ltd

611,894‌

10,827

Raytron

Technology

Co

Ltd

69,721‌

55,800

Risen

Energy

Co

Ltd

135,492‌

31,300

Riyue

Heavy

Industry

Co

Ltd

60,224‌

15,200

Rockchip

Electronics

Co

Ltd

135,433‌

465,500

Rongsheng

Petrochemical

Co

Ltd

725,006‌

456,300

SAIC

Motor

Corp

Ltd

905,958‌

173,200

Sailun

Group

Co

Ltd

265,942‌

254,100

Sanan

Optoelectronics

Co

Ltd

517,151‌

20,500

Sangfor

Technologies,

Inc

235,165‌

912,000

Sany

Heavy

Equipment

International

Holdings

Co

Ltd

1,198,018‌

383,400

Sany

Heavy

Industry

Co

Ltd

758,071‌

133,791

Satellite

Chemical

Co

Ltd

297,348‌

290,100

SDIC

Capital

Co

Ltd

271,022‌

411,400

SDIC

Power

Holdings

Co

Ltd

685,845‌

110,800

Seazen

Holdings

Co

Ltd

179,923‌

70,700

(a)

Seres

Group

Co

Ltd

789,077‌

254,900

SF

Holding

Co

Ltd

1,367,614‌

17,647

SG

Micro

Corp

216,383‌

625,571

Shaanxi

Coal

Industry

Co

Ltd

1,542,225‌

272,850

Shan

XI

Hua

Yang

Group

New

Energy

Co

Ltd

300,864‌

73,690

Shandong

Buchang

Pharmaceuticals

Co

Ltd

174,694‌

200,845

Shandong

Gold

Mining

Co

Ltd

-

A

652,110‌

715,624

(b)

Shandong

Gold

Mining

Co

Ltd

-

H

1,340,669‌

30,000

Shandong

Himile

Mechanical

Science

&

Technology

Co

Ltd

131,881‌

117,100

Shandong

Hualu

Hengsheng

Chemical

Co

Ltd

515,008‌

44,800

Shandong

Linglong

Tyre

Co

Ltd

122,616‌

673,600

Shandong

Nanshan

Aluminum

Co

Ltd

285,450‌

104,900

Shandong

Sun

Paper

Industry

JSC

Ltd

178,296‌

2,083,390

Shandong

Weigao

Group

Medical

Polymer

Co

Ltd

1,933,785‌

77,560

Shanghai

Aiko

Solar

Energy

Co

Ltd

207,822‌

65,780

Shanghai

Bairun

Investment

Holding

Group

Co

Ltd

236,766‌

523,302

Shanghai

Baosight

Software

Co

Ltd

1,076,240‌

75,348

Shanghai

Baosight

Software

Co

Ltd

439,360‌

421,400

Shanghai

Construction

Group

Co

Ltd

151,527‌

707,900

Shanghai

Electric

Group

Co

Ltd

429,714‌

96,000

Shanghai

Electric

Power

Co

Ltd

114,670‌

123,800

Shanghai

Fosun

Pharmaceutical

Group

Co

Ltd

-

A

481,453‌

395,985

Shanghai

Fosun

Pharmaceutical

Group

Co

Ltd

-

H

913,716‌

2,991

Shanghai

Friendess

Electronic

Technology

Corp

Ltd

97,932‌

22,600

Shanghai

Fudan

Microelectronics

Group

Co

Ltd

149,637‌

72,400

(a)

Shanghai

International

Airport

Co

Ltd

368,308‌

451,300

Shanghai

International

Port

Group

Co

Ltd

308,449‌

159

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

56,400

Shanghai

Jinjiang

International

Hotels

Development

Co

Ltd

$

253,222‌

15,790

(a)

Shanghai

Junshi

Biosciences

Co

Ltd

99,011‌

174,232

Shanghai

Lingang

Holdings

Corp

Ltd

255,535‌

26,700

Shanghai

M&G

Stationery,

Inc

141,454‌

22,300

Shanghai

Moons'

Electric

Co

Ltd

200,991‌

137,200

Shanghai

Pharmaceuticals

Holding

Co

Ltd

-

A

338,036‌

656,841

Shanghai

Pharmaceuticals

Holding

Co

Ltd

-

H

955,572‌

1,614,630

Shanghai

Pudong

Development

Bank

Co

Ltd

1,505,389‌

99,383

Shanghai

Putailai

New

Energy

Technology

Co

Ltd

339,960‌

348,100

Shanghai

RAAS

Blood

Products

Co

Ltd

332,410‌

468,600

Shanghai

Rural

Commercial

Bank

Co

Ltd

381,752‌

228,100

Shanghai

Yuyuan

Tourist

Mart

Group

Co

Ltd

202,628‌

125,200

Shanxi

Coal

International

Energy

Group

Co

Ltd

278,967‌

282,100

Shanxi

Lu'an

Environmental

Energy

Development

Co

Ltd

733,882‌

237,700

(a)

Shanxi

Meijin

Energy

Co

Ltd

227,905‌

173,160

Shanxi

Securities

Co

Ltd

132,999‌

281,100

Shanxi

Taigang

Stainless

Steel

Co

Ltd

150,258‌

59,220

Shanxi

Xinghuacun

Fen

Wine

Factory

Co

Ltd

2,000,188‌

474,570

Shanxi

Xishan

Coal

&

Electricity

Power

Co

Ltd

561,294‌

16,200

Shede

Spirits

Co

Ltd

255,063‌

672,400

Shenergy

Co

Ltd

541,391‌

78,700

Shenghe

Resources

Holding

Co

Ltd

115,052‌

69,000

Shengyi

Technology

Co

Ltd

165,908‌

11,760

Shennan

Circuits

Co

Ltd

111,868‌

1,055,300

Shenwan

Hongyuan

Group

Co

Ltd

633,157‌

30,780

Shenzhen

Capchem

Technology

Co

Ltd

185,733‌

13,280

Shenzhen

Dynanonic

Co

Ltd

142,827‌

387,400

Shenzhen

Energy

Group

Co

Ltd

327,170‌

60,927

Shenzhen

Inovance

Technology

Co

Ltd

503,623‌

1,369,738

Shenzhen

International

Holdings

Ltd

902,827‌

53,020

Shenzhen

Kangtai

Biological

Products

Co

Ltd

219,840‌

8,900

Shenzhen

Kedali

Industry

Co

Ltd

110,540‌

31,300

Shenzhen

Kstar

Science

And

Technology

Co

Ltd

111,641‌

59,100

Shenzhen

Mindray

Bio-Medical

Electronics

Co

Ltd

2,309,915‌

44,500

Shenzhen

New

Industries

Biomedical

Engineering

Co

Ltd

414,772‌

392,100

Shenzhen

Overseas

Chinese

Town

Co

Ltd

193,771‌

47,700

Shenzhen

Salubris

Pharmaceuticals

Co

Ltd

212,338‌

15,400

Shenzhen

SC

New

Energy

Technology

Corp

153,708‌

54,300

Shenzhen

SED

Industry

Co

Ltd

142,760‌

50,045

Shenzhen

Senior

Technology

Material

Co

Ltd

105,127‌

26,400

Shenzhen

Sunlord

Electronics

Co

Ltd

105,370‌

42,478

Shenzhen

Transsion

Holdings

Co

Ltd

780,595‌

38,400

Shenzhen

YUTO

Packaging

Technology

Co

Ltd

137,844‌

677,500

Shenzhou

International

Group

Holdings

Ltd

6,654,723‌

89,680

Shijiazhuang

Yiling

Pharmaceutical

Co

Ltd

272,435‌

87,800

Shuangliang

Eco-Energy

Systems

Co

Ltd

112,371‌

251,373

Sichuan

Chuantou

Energy

Co

Ltd

505,281‌

479,100

Sichuan

Hebang

Biotechnology

Co

Ltd

155,925‌

72,700

Sichuan

Kelun

Pharmaceutical

Co

Ltd

273,064‌

32,500

(a)

Sichuan

New

Energy

Power

Co

Ltd

52,065‌

282,040

Sichuan

Road

and

Bridge

Group

Co

Ltd

297,235‌

21,100

Sichuan

Swellfun

Co

Ltd

176,330‌

49,000

Sichuan

Yahua

Industrial

Group

Co

Ltd

94,373‌

31,900

Sieyuan

Electric

Co

Ltd

214,997‌

264,000

Silergy

Corp

2,359,589‌

208,200

Sinolink

Securities

Co

Ltd

260,173‌

181,700

Sinoma

International

Engineering

Co

245,010‌

70,800

Sinoma

Science

&

Technology

Co

Ltd

167,373‌

29,400

Sinomine

Resource

Group

Co

Ltd

150,300‌

514,583

Sinopec

Shanghai

Petrochemical

Co

Ltd

(Class

A)

210,478‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

160

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

1,099,600

Sinopharm

Group

Co

Ltd

$

2,629,454‌

626,000

Sinotruk

Hong

Kong

Ltd

1,179,072‌

25,984

Skshu

Paint

Co

Ltd

211,505‌

1,664,000

(b),(c)

Smoore

International

Holdings

Ltd

1,282,375‌

105,560

Songcheng

Performance

Development

Co

Ltd

158,515‌

261,456

SooChow

Securities

Co

Ltd

286,674‌

542,900

Southwest

Securities

Co

Ltd

304,287‌

46,200

(a)

Spring

Airlines

Co

Ltd

345,825‌

7,269

StarPower

Semiconductor

Ltd

171,109‌

74,300

Sungrow

Power

Supply

Co

Ltd

856,208‌

583,417

Sunny

Optical

Technology

Group

Co

Ltd

4,887,825‌

28,950

Sunresin

New

Materials

Co

Ltd

215,137‌

78,000

Sunwoda

Electronic

Co

Ltd

171,793‌

128,000

Suzhou

Dongshan

Precision

Manufacturing

Co

Ltd

327,799‌

12,544

Suzhou

Maxwell

Technologies

Co

Ltd

207,120‌

23,400

Suzhou

TFC

Optical

Communication

Co

Ltd

227,698‌

356,532

(a)

TAL

Education

Group

(ADR)

3,126,786‌

200,900

Tangshan

Jidong

Cement

Co

Ltd

196,415‌

249,470

TBEA

Co

Ltd

477,424‌

833,690

TCL

Technology

Group

Corp

448,281‌

186,250

TCL

Zhonghuan

Renewable

Energy

Technology

Co

Ltd

470,213‌

5,483,091

Tencent

Holdings

Ltd

202,922,235‌

622,300

(a)

Tencent

Music

Entertainment

Group

(ADR)

4,517,898‌

20,800

Thunder

Software

Technology

Co

Ltd

199,854‌

23,300

Tianjin

712

Communication

&

Broadcasting

Co

Ltd

84,766‌

72,100

Tianma

Microelectronics

Co

Ltd

96,596‌

76,200

Tianqi

Lithium

Corp

573,330‌

184,400

Tianshan

Aluminum

Group

Co

Ltd

163,322‌

86,500

Tianshui

Huatian

Technology

Co

Ltd

105,642‌

1,606,025

Tingyi

Cayman

Islands

Holding

Corp

2,130,352‌

87,700

Titan

Wind

Energy

Suzhou

Co

Ltd

159,950‌

1,006,000

(a)

Tongcheng

Travel

Holdings

Ltd

1,921,913‌

83,500

TongFu

Microelectronics

Co

Ltd

234,435‌

122,000

Tongkun

Group

Co

Ltd

240,983‌

432,900

Tongling

Nonferrous

Metals

Group

Co

Ltd

183,870‌

231,892

Tongwei

Co

Ltd

866,183‌

19,100

(a)

Topchoice

Medical

Corp

234,032‌

1,937,000

(b)

Topsports

International

Holdings

Ltd

1,628,904‌

869,661

Travelsky

Technology

Ltd

1,373,832‌

94,675

Trina

Solar

Co

Ltd

386,582‌

451,300

(a)

Trip.com

Group

Ltd

15,381,034‌

510,000

Tsingtao

Brewery

Co

Ltd

3,867,599‌

40,300

Tsingtao

Brewery

Co

Ltd

(Class

A)

460,515‌

34,299

Unigroup

Guoxin

Microelectronics

Co

Ltd

353,618‌

1,370,000

Uni-President

China

Holdings

Ltd

933,146‌

166,080

Unisplendour

Corp

Ltd

445,632‌

37,600

Universal

Scientific

Industrial

Shanghai

Co

Ltd

74,680‌

27,735

(a)

Verisilicon

Microelectronics

Shanghai

Co

Ltd

202,384‌

284,497

(a)

Vipshop

Holdings

Ltd

(ADR)

4,056,927‌

67,400

Walvax

Biotechnology

Co

Ltd

214,562‌

123,000

(a)

Wanda

Film

Holding

Co

Ltd

210,053‌

158,700

Wanhua

Chemical

Group

Co

Ltd

1,925,041‌

4,063,587

Want

Want

China

Holdings

Ltd

2,524,948‌

64,772

Weibo

Corp

(ADR)

766,253‌

1,590,800

Weichai

Power

Co

Ltd

2,381,143‌

277,000

Weichai

Power

Co

Ltd

(Class

A)

526,433‌

41,920

Weihai

Guangwei

Composites

Co

Ltd

146,814‌

322,360

Wens

Foodstuffs

Group

Co

Ltd

827,891‌

118,300

Western

Mining

Co

Ltd

203,376‌

255,800

Western

Securities

Co

Ltd

232,836‌

24,665

Western

Superconducting

Technologies

Co

Ltd

154,533‌

47,790

Will

Semiconductor

Co

Ltd

721,026‌

50,200

Wingtech

Technology

Co

Ltd

341,697‌

161

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

2,328,000

Winteam

Pharmaceutical

Group

Ltd

$

1,147,112‌

1,538,900

(a)

Wintime

Energy

Group

Co

Ltd

288,257‌

221,200

Wuchan

Zhongda

Group

Co

Ltd

138,204‌

125,768

Wuhan

Guide

Infrared

Co

Ltd

136,239‌

193,700

Wuliangye

Yibin

Co

Ltd

4,128,993‌

98,790

WUS

Printed

Circuit

Kunshan

Co

Ltd

264,535‌

112,404

WuXi

AppTec

Co

Ltd

-

A

1,328,960‌

301,377

(b),(c)

WuXi

AppTec

Co

Ltd

-

H

3,621,509‌

4,987

Wuxi

Autowell

Technology

Co

Ltd

93,164‌

3,137,801

(a),(b)

Wuxi

Biologics

Cayman,

Inc

19,510,025‌

561,100

XCMG

Construction

Machinery

Co

Ltd

439,442‌

86,136

Xiamen

C

&

D,

Inc

115,096‌

9,000

Xiamen

Faratronic

Co

Ltd

122,810‌

47,100

Xiamen

Tungsten

Co

Ltd

109,155‌

12,660,436

(a),(b)

Xiaomi

Corp

22,700,449‌

74,862

Xinjiang

Daqo

New

Energy

Co

Ltd

365,580‌

158,100

Xinjiang

Goldwind

Science

&

Technology

Co

Ltd

-

A

190,098‌

4,261,780

Xinyi

Solar

Holdings

Ltd

2,508,096‌

853,289

(a),(c)

XPeng,

Inc

6,200,659‌

1,180,234

Xtep

International

Holdings

Ltd

1,072,990‌

1,008,000

(b)

Yadea

Group

Holdings

Ltd

1,839,961‌

20,400

Yangzhou

Yangjie

Electronic

Technology

Co

Ltd

105,918‌

182,600

Yantai

Jereh

Oilfield

Services

Group

Co

Ltd

713,968‌

1,989,696

(c)

Yanzhou

Coal

Mining

Co

Ltd

3,455,619‌

223,350

Yanzhou

Coal

Mining

Co

Ltd

(Class

A)

596,583‌

69,953

Yealink

Network

Technology

Corp

Ltd

319,134‌

69,871

Yifeng

Pharmacy

Chain

Co

Ltd

312,989‌

435,000

Yihai

International

Holding

Ltd

791,656‌

71,500

Yihai

Kerry

Arawana

Holdings

Co

Ltd

341,920‌

125,420

Yintai

Gold

Co

Ltd

232,037‌

1,004,900

Yonghui

Superstores

Co

Ltd

423,032‌

23,530

YongXing

Special

Materials

Technology

Co

Ltd

160,926‌

153,999

Yonyou

Network

Technology

Co

Ltd

344,922‌

437,100

Youngor

Group

Co

Ltd

403,359‌

155,000

YTO

Express

Group

Co

Ltd

287,831‌

146,200

(a)

Yuan

Longping

High-tech

Agriculture

Co

Ltd

329,235‌

1,507,694

Yuexiu

Property

Co

Ltd

1,568,240‌

342,645

Yum

China

Holdings,

Inc

18,009,421‌

191,710

Yunda

Holding

Co

Ltd

238,944‌

165,300

Yunnan

Aluminium

Co

Ltd

314,219‌

80,860

Yunnan

Baiyao

Group

Co

Ltd

561,830‌

11,900

Yunnan

Botanee

Bio-Technology

Group

Co

Ltd

128,320‌

337,400

Yunnan

Chihong

Zinc&Germanium

Co

Ltd

238,609‌

48,700

Yunnan

Energy

New

Material

Co

Ltd

446,987‌

68,500

Yunnan

Tin

Co

Ltd

132,318‌

90,800

Yunnan

Yuntianhua

Co

Ltd

206,751‌

729,600

(a)

Zai

Lab

Ltd

1,861,979‌

76,600

Zangge

Mining

Co

Ltd

234,421‌

26,695

Zhangzhou

Pientzehuang

Pharmaceutical

Co

Ltd

913,519‌

1,131,141

Zhaojin

Mining

Industry

Co

Ltd

1,402,330‌

133,200

Zhefu

Holding

Group

Co

Ltd

67,359‌

384,700

(a)

Zhejiang

Century

Huatong

Group

Co

Ltd

308,050‌

349,900

Zhejiang

China

Commodities

City

Group

Co

Ltd

372,276‌

119,716

Zhejiang

Chint

Electrics

Co

Ltd

378,275‌

180,800

Zhejiang

Dahua

Technology

Co

Ltd

504,662‌

30,420

Zhejiang

Dingli

Machinery

Co

Ltd

226,537‌

1,530,414

Zhejiang

Expressway

Co

Ltd

1,151,996‌

70,730

Zhejiang

Huahai

Pharmaceutical

Co

Ltd

156,389‌

68,828

Zhejiang

Huayou

Cobalt

Co

Ltd

346,399‌

53,700

Zhejiang

Jingsheng

Mechanical

&

Electrical

Co

Ltd

319,335‌

33,300

Zhejiang

Jiuzhou

Pharmaceutical

Co

Ltd

135,324‌

168,600

Zhejiang

Juhua

Co

Ltd

349,046‌

198,900

Zhejiang

Longsheng

Group

Co

Ltd

241,980‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

162

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

CHINA—continued

134,164

Zhejiang

NHU

Co

Ltd

$

296,645‌

90,600

Zhejiang

Sanhua

Intelligent

Controls

Co

Ltd

331,584‌

35,967

Zhejiang

Supcon

Technology

Co

Ltd

214,608‌

26,400

Zhejiang

Supor

Co

Ltd

181,023‌

58,370

Zhejiang

Weiming

Environment

Protection

Co

Ltd

143,169‌

50,700

Zhejiang

Weixing

New

Building

Materials

Co

Ltd

114,276‌

745,100

Zhejiang

Zheneng

Electric

Power

Co

Ltd

464,281‌

225,000

Zhengzhou

Yutong

Bus

Co

Ltd

419,487‌

201,800

Zheshang

Securities

Co

Ltd

277,920‌

566,150

(a),(b)

ZhongAn

Online

P&C

Insurance

Co

Ltd

1,551,600‌

39,400

Zhongji

Innolight

Co

Ltd

474,644‌

378,800

Zhongjin

Gold

Corp

Ltd

563,137‌

704,500

Zhongsheng

Group

Holdings

Ltd

1,626,898‌

301,900

Zhongtai

Securities

Co

Ltd

295,505‌

27,531

Zhuzhou

CRRC

Times

Electric

Co

Ltd

145,734‌

423,000

Zhuzhou

CSR

Times

Electric

Co

Ltd

1,365,176‌

140,900

Zhuzhou

Kibing

Group

Co

Ltd

153,702‌

142,900

Zibo

Qixiang

Tengda

Chemical

Co

Ltd

114,300‌

4,563,299

Zijin

Mining

Group

Co

Ltd

7,059,016‌

952,300

Zijin

Mining

Group

Co

Ltd

(Class

A)

1,615,124‌

328,700

Zoomlion

Heavy

Industry

Science

and

Technology

Co

Ltd

-

A

288,429‌

208,400

ZTE

Corp

745,111‌

664,864

ZTE

Corp

(Class

H)

1,477,499‌

354,222

ZTO

Express

Cayman,

Inc

(ADR)

8,349,013‌

TOTAL

CHINA

1,522,845,358‌

COLOMBIA

-

0

.1

%

219,410

BanColombia

S.A.

1,564,549‌

408,966

BanColombia

S.A.

(Preference)

2,623,105‌

347,473

Interconexion

Electrica

S.A.

ESP

1,224,091‌

TOTAL

COLOMBIA

5,411,745‌

CZECH

REPUBLIC

-

0

.2

%

139,531

CEZ

AS

5,970,414‌

60,202

Komercni

Banka

AS

1,764,433‌

247,245

(b)

Moneta

Money

Bank

AS

955,892‌

TOTAL

CZECH

REPUBLIC

8,690,739‌

EGYPT

-

0

.1

%

2,080,646

Commercial

International

Bank

4,064,521‌

1,098,082

Eastern

Tobacco

933,858‌

1,085,820

(a)

Egyptian

Financial

Group-Hermes

Holding

586,360‌

TOTAL

EGYPT

5,584,739‌

GREECE

-

0

.5

%

1,761,915

(a)

Alpha

Services

and

Holdings

S.A.

2,637,468‌

2,008,930

(a)

Eurobank

Ergasias

Services

and

Holdings

S.A.

3,283,644‌

12,741

(a),(d)

FF

Group

135‌

158,231

Hellenic

Telecommunications

Organization

S.A.

2,217,827‌

93,415

JUMBO

S.A.

2,457,223‌

59,871

Motor

Oil

Hellas

Corinth

Refineries

S.A.

1,425,364‌

87,267

Mytilineos

Holdings

S.A.

3,229,957‌

432,944

(a)

National

Bank

of

Greece

S.A.

2,479,622‌

151,870

OPAP

S.A.

2,572,418‌

598,422

(a)

Piraeus

Financial

Holdings

S.A.

1,773,809‌

170,313

(a)

Public

Power

Corp

1,738,393‌

TOTAL

GREECE

23,815,860‌

HONG

KONG

-

0

.1

%

798,151

Kingboard

Laminates

Holdings

Ltd

748,499‌

1,711,000

Nine

Dragons

Paper

Holdings

Ltd

974,037‌

114,406

Orient

Overseas

International

Ltd

1,442,635‌

163

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

HONG

KONG—continued

8,446,331

Sino

Biopharmaceutical

Ltd

$

3,281,222‌

295,000

Vinda

International

Holdings

Ltd

729,013‌

TOTAL

HONG

KONG

7,175,406‌

HUNGARY

-

0

.2

%

435,914

MOL

Hungarian

Oil

&

Gas

plc

3,468,500‌

185,793

OTP

Bank

Rt

6,915,215‌

98,998

Richter

Gedeon

Rt

2,321,230‌

TOTAL

HUNGARY

12,704,945‌

INDIA

-

15

.7

%

40,130

ABB

Ltd

India

1,979,235‌

137,015

Adani

Enterprises

Ltd

3,778,116‌

254,863

(a)

Adani

Green

Energy

Ltd

2,790,648‌

398,497

Adani

Ports

&

Special

Economic

Zone

Ltd

3,759,347‌

603,985

(a)

Adani

Power

Ltd

2,633,678‌

545,733

Ambuja

Cements

Ltd

2,784,171‌

85,778

Apollo

Hospitals

Enterprise

Ltd

4,966,809‌

1,187,367

Ashok

Leyland

Ltd

2,393,937‌

320,856

Asian

Paints

Ltd

11,557,626‌

101,891

Astral

Ltd

2,264,997‌

132,093

(b)

AU

Small

Finance

Bank

Ltd

1,061,674‌

243,302

Aurobindo

Pharma

Ltd

2,482,725‌

135,813

(a),(b)

Avenue

Supermarts

Ltd

5,929,723‌

1,932,782

Axis

Bank

Ltd

22,806,454‌

56,506

Bajaj

Auto

Ltd

3,604,564‌

224,166

Bajaj

Finance

Ltd

20,179,296‌

312,894

Bajaj

Finserv

Ltd

5,899,828‌

20,755

Bajaj

Holdings

&

Investment

Ltd

1,726,733‌

61,563

Balkrishna

Industries

Ltd

1,888,248‌

552,433

(b)

Bandhan

Bank

Ltd

1,422,501‌

754,592

Bank

of

Baroda

1,779,266‌

221,271

Berger

Paints

India

Ltd

1,484,662‌

2,972,147

Bharat

Electronics

Ltd

4,761,653‌

195,413

Bharat

Forge

Ltd

2,393,520‌

652,641

Bharat

Petroleum

Corp

Ltd

2,735,971‌

1,884,955

Bharti

Airtel

Ltd

20,701,721‌

93,667

Britannia

Industries

Ltd

4,982,644‌

527,683

CG

Power

&

Industrial

Solutions

Ltd

2,471,189‌

341,801

Cholamandalam

Investment

and

Finance

Co

Ltd

4,670,959‌

443,181

Cipla

Ltd

6,388,507‌

1,343,735

Coal

India

Ltd

5,072,241‌

93,913

Colgate-Palmolive

India

Ltd

2,384,379‌

216,954

Container

Corp

Of

India

Ltd

1,794,022‌

116,320

Cummins

India

Ltd

2,342,962‌

499,957

Dabur

India

Ltd

3,176,036‌

100,932

Divi's

Laboratories

Ltd

4,107,579‌

603,693

DLF

Ltd

4,089,653‌

87,459

Dr

Reddy's

Laboratories

Ltd

5,645,003‌

115,836

Eicher

Motors

Ltd

4,584,556‌

2,110,508

GAIL

India

Ltd

3,030,309‌

322,447

(a)

Godrej

Consumer

Products

Ltd

3,841,966‌

115,174

(a)

Godrej

Properties

Ltd

2,298,275‌

209,133

Grasim

Industries

Ltd

4,739,774‌

192,809

Havells

India

Ltd

2,886,653‌

792,400

HCL

Technologies

Ltd

12,154,165‌

74,728

(b)

HDFC

Asset

Management

Co

Ltd

2,454,606‌

2,288,776

HDFC

Bank

Ltd

40,613,254‌

820,882

(b)

HDFC

Life

Insurance

Co

Ltd

6,098,059‌

94,182

Hero

Honda

Motors

Ltd

3,495,036‌

1,001,938

Hindalco

Industries

Ltd

5,530,448‌

137,226

Hindustan

Aeronautics

Ltd

3,003,156‌

688,802

Hindustan

Lever

Ltd

20,556,183‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

164

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INDIA—continued

507,518

(a)

Hindustan

Petroleum

Corp

Ltd

$

1,509,913‌

4,334,136

ICICI

Bank

Ltd

47,683,304‌

182,738

(b)

ICICI

Lombard

General

Insurance

Co

Ltd

3,015,983‌

260,206

(b)

ICICI

Prudential

Life

Insurance

Co

Ltd

1,641,989‌

2,432,877

(a)

IDFC

First

Bank

Ltd

2,417,676‌

717,839

Indian

Hotels

Co

Ltd

3,306,194‌

2,649,276

Indian

Oil

Corp

Ltd

2,853,898‌

176,221

Indian

Railway

Catering

&

Tourism

Corp

Ltd

1,408,527‌

259,941

Indraprastha

Gas

Ltd

1,194,056‌

55,039

Info

Edge

India

Ltd

2,701,043‌

2,728,332

Infosys

Technologies

Ltd

44,869,508‌

105,393

(a),(b)

InterGlobe

Aviation

Ltd

3,106,203‌

2,563,563

ITC

Ltd

13,196,044‌

285,581

Jindal

Steel

&

Power

Ltd

2,174,461‌

518,362

JSW

Steel

Ltd

4,586,507‌

313,284

Jubilant

Foodworks

Ltd

1,885,059‌

922,276

Kotak

Mahindra

Bank

Ltd

19,280,020‌

588,849

Larsen

&

Toubro

Ltd

20,722,118‌

69,819

(b)

LTIMindtree

Ltd

4,247,842‌

176,790

Lupin

Ltd

2,395,686‌

759,446

Mahindra

&

Mahindra

Ltd

13,309,499‌

402,469

Marico

Ltd

2,593,443‌

114,374

Maruti

Suzuki

India

Ltd

14,282,637‌

617,683

Max

Healthcare

Institute

Ltd

4,256,557‌

65,320

Mphasis

Ltd

1,667,638‌

1,416

MRF

Ltd

1,842,368‌

78,423

Muthoot

Finance

Ltd

1,223,648‌

27,313

Nestle

India

Ltd

7,953,246‌

3,584,286

NTPC

Ltd

10,154,825‌

4,719

Page

Industries

Ltd

2,144,241‌

631,464

Petronet

LNG

Ltd

1,513,594‌

72,217

PI

Industries

Ltd

2,949,460‌

122,603

Pidilite

Industries

Ltd

3,619,852‌

1,037,176

Power

Finance

Corp

Ltd

3,071,589‌

3,920,366

Power

Grid

Corp

of

India

Ltd

9,521,532‌

953,814

REC

Ltd

3,296,860‌

2,502,814

Reliance

Industries

Ltd

68,821,823‌

2,463,595

(a)

Reliance

Strategic

Investments

Ltd

6,480,127‌

2,020,826

Samvardhana

Motherson

International

Ltd

2,231,855‌

215,808

SBI

Cards

&

Payment

Services

Ltd

1,933,932‌

376,288

(b)

SBI

Life

Insurance

Co

Ltd

6,180,244‌

7,222

Shree

Cement

Ltd

2,225,911‌

230,964

Shriram

Finance

Ltd

5,211,738‌

73,957

Siemens

India

Ltd

2,959,082‌

367,553

(b)

Sona

Blw

Precision

Forgings

Ltd

2,392,022‌

126,974

SRF

Ltd

3,348,140‌

1,455,774

State

Bank

of

India

9,892,097‌

805,284

Sun

Pharmaceutical

Industries

Ltd

10,528,399‌

55,011

Supreme

Industries

Ltd

2,860,394‌

769,618

Tata

Consultancy

Services

Ltd

31,156,898‌

448,777

Tata

Consumer

Products

Ltd

4,855,823‌

30,139

Tata

Elxsi

Ltd

2,760,791‌

1,359,730

Tata

Motors

Ltd

10,270,057‌

1,126,749

Tata

Power

Co

Ltd

3,241,784‌

5,927,026

(a)

Tata

Steel

Ltd

8,457,788‌

439,508

Tech

Mahindra

Ltd

5,989,669‌

292,503

Titan

Co

Ltd

11,213,323‌

77,256

Torrent

Pharmaceuticals

Ltd

1,785,802‌

142,934

Trent

Ltd

3,699,757‌

81,276

Tube

Investments

of

India

Ltd

3,074,802‌

168,461

TVS

Motor

Co

Ltd

3,219,185‌

97,669

Ultra

Tech

Cement

Ltd

9,884,490‌

225,548

(a)

United

Spirits

Ltd

2,797,075‌

165

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

INDIA—continued

383,500

UPL

Ltd

$

2,490,047‌

408,134

Varun

Beverages

Ltd

4,454,715‌

609,274

Vedanta

Ltd

1,585,530‌

1,070,380

Wipro

Ltd

4,913,816‌

9,957,767

(a)

Yes

Bank

Ltd

1,908,463‌

3,430,878

(a)

Zomato

Ltd

4,339,457‌

TOTAL

INDIA

816,940,773‌

INDONESIA

-

1

.9

%

13,847,354

Adaro

Energy

Indonesia

Tbk

PT

2,234,259‌

16,886,854

Astra

International

Tbk

PT

6,143,092‌

45,134,329

Bank

Central

Asia

Tbk

PT

24,865,432‌

12,079,318

Bank

Negara

Indonesia

Persero

Tbk

PT

3,645,376‌

55,956,850

Bank

Rakyat

Indonesia

17,496,806‌

20,491,576

Barito

Pacific

Tbk

PT

1,451,245‌

5,864,500

(a)

Charoen

Pokphand

Indonesia

Tbk

PT

2,141,272‌

662,827,776

(a)

GoTo

Gojek

Tokopedia

Tbk

PT

2,507,640‌

2,279,005

Indah

Kiat

Pulp

&

Paper

Tbk

PT

1,377,436‌

1,861,941

Indofood

CBP

Sukses

Makmur

Tbk

PT

1,213,163‌

16,567,800

Kalbe

Farma

Tbk

PT

1,762,061‌

9,310,328

(a)

Merdeka

Copper

Gold

Tbk

PT

1,305,827‌

6,042,700

PT

Aneka

Tambang

Tbk

647,435‌

30,821,178

PT

Bank

Mandiri

Persero

Tbk

11,010,929‌

3,568,970

PT

Indofood

Sukses

Makmur

Tbk

1,494,162‌

2,846,604

PT

Semen

Gresik

Persero

Tbk

1,093,815‌

6,321,845

PT

Unilever

Indonesia

Tbk

1,440,672‌

1,269,573

PT

United

Tractors

Tbk

2,009,109‌

1,715,786

PT

Vale

Indonesia

Tbk

534,724‌

16,603,000

Sarana

Menara

Nusantara

Tbk

PT

931,167‌

13,693,900

Sumber

Alfaria

Trijaya

Tbk

PT

2,491,367‌

41,113,183

Telkom

Indonesia

Persero

Tbk

PT

9,012,656‌

TOTAL

INDONESIA

96,809,645‌

KOREA,

REPUBLIC

OF

-

11

.6

%

24,248

Amorepacific

Corp

2,276,065‌

8,025

BGF

retail

Co

Ltd

820,649‌

88,308

Celltrion

Healthcare

Co

Ltd

4,368,204‌

15,162

(a)

Celltrion

Pharm

Inc

713,336‌

89,338

Celltrion,

Inc

9,921,280‌

6,737

CJ

CheilJedang

Corp

1,411,379‌

19,226

(a)

CosmoAM&T

Co

Ltd

2,001,667‌

42,213

Coway

Co

Ltd

1,350,849‌

46,683

Daewoo

International

Corp

1,741,282‌

37,749

(a)

Daewoo

Shipbuilding

&

Marine

Engineering

Co

Ltd

660,163‌

37,248

Dongbu

Insurance

Co

Ltd

2,423,313‌

46,686

Doosan

Bobcat,

Inc

1,341,336‌

370,177

(a)

Doosan

Heavy

Industries

and

Construction

Co

Ltd

3,688,436‌

40,055

(c)

Ecopro

BM

Co

Ltd

5,859,939‌

16,428

(c)

Ecopro

Co

Ltd

7,590,953‌

13,415

F&F

Co

Ltd

929,984‌

40,038

GS

Holdings

Corp

1,169,184‌

245,606

Hana

Financial

Group,

Inc

7,141,427‌

57,116

Hankook

Tire

&

Technology

Co

Ltd

1,620,468‌

5,770

Hanmi

Pharm

Co

Ltd

1,206,428‌

37,598

Hanmi

Semiconductor

Co

Ltd

1,473,180‌

140,900

Hanon

Systems

718,974‌

84,064

(a)

Hanwha

Chemical

Corp

1,790,583‌

39,907

HD

Hyundai

Co

Ltd

1,699,734‌

18,360

(a)

HD

Hyundai

Heavy

Industries

Co

Ltd

1,392,072‌

95,952

(a)

HLB,

Inc

2,067,365‌

193,840

HMM

Co

Ltd

2,099,536‌

15,733

Honam

Petrochemical

Corp

1,708,555‌

26,821

Hotel

Shilla

Co

Ltd

1,241,029‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

166

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

KOREA,

REPUBLIC

OF—continued

15,267

(a)

HYBE

Co

Ltd

$

2,486,439‌

448,601

Hynix

Semiconductor,

Inc

38,957,452‌

63,742

Hyundai

Engineering

&

Construction

Co

Ltd

1,580,851‌

14,460

Hyundai

Glovis

Co

Ltd

1,835,131‌

34,882

(a)

Hyundai

Heavy

Industries

2,339,990‌

18,721

(a)

Hyundai

Mipo

Dockyard

964,738‌

49,944

Hyundai

Mobis

7,734,566‌

112,119

Hyundai

Motor

Co

14,125,212‌

29,138

Hyundai

Motor

Co

Ltd

(2nd

Preference)

2,164,722‌

19,314

Hyundai

Motor

Co

Ltd

(Preference)

1,426,278‌

67,147

Hyundai

Steel

Co

1,632,907‌

231,115

Industrial

Bank

of

Korea

1,912,702‌

23,966

JYP

Entertainment

Corp

1,824,285‌

249,095

Kakao

Corp

7,020,943‌

25,317

(a)

Kakao

Games

Corp

439,418‌

136,639

KakaoBank

Corp

1,849,170‌

20,643

(a)

Kakaopay

Corp

526,263‌

71,780

Kangwon

Land,

Inc

781,581‌

315,538

KB

Financial

Group,

Inc

12,027,752‌

213,095

Kia

Motors

Corp

12,174,421‌

59,798

Korea

Aerospace

Industries

Ltd

1,967,635‌

216,772

Korea

Electric

Power

Corp

2,713,317‌

32,973

Korea

Investment

Holdings

Co

Ltd

1,232,650‌

6,987

Korea

Zinc

Co

Ltd

2,428,111‌

139,602

Korean

Air

Lines

Co

Ltd

2,124,069‌

22,606

(a),(b)

Krafton,

Inc

2,751,875‌

58,266

KT

Corp

1,409,581‌

84,913

KT&G

Corp

5,356,591‌

15,493

Kumho

Petrochemical

Co

Ltd

1,456,133‌

19,472

L&F

Co

Ltd

1,894,097‌

40,547

LG

Chem

Ltd

13,288,959‌

6,570

LG

Chem

Ltd

(Preference)

1,372,183‌

75,125

LG

Corp

4,300,081‌

190,516

LG

Display

Co

Ltd

1,723,925‌

87,575

LG

Electronics,

Inc

6,496,575‌

38,304

(a)

LG

Energy

Solution

Ltd

10,980,556‌

7,496

LG

Household

&

Health

Care

Ltd

1,757,393‌

11,674

LG

Innotek

Co

Ltd

1,937,562‌

201,578

LG

Telecom

Ltd

1,510,769‌

15,233

Lotte

Energy

Materials

Corp

436,390‌

85,411

Meritz

Financial

Group,

Inc

3,178,794‌

165,996

Mirae

Asset

Daewoo

Co

Ltd

813,165‌

106,823

Naver

Corp

14,934,190‌

11,325

NCSoft

Corp

1,956,584‌

18,070

(b)

Netmarble

Corp

518,774‌

19,349

Orion

Corp/Republic

of

Korea

1,712,485‌

209,212

Pan

Ocean

Co

Ltd

667,931‌

26,613

(a)

Pearl

Abyss

Corp

974,985‌

59,246

POSCO

18,136,692‌

25,406

POSCO

Future

M

Co

Ltd

4,477,122‌

14,243

(a),(b)

Samsung

Biologics

Co

Ltd

7,487,642‌

66,382

Samsung

C&T

Corp

5,248,538‌

44,129

Samsung

Electro-Mechanics

Co

Ltd

4,080,214‌

3,908,049

Samsung

Electronics

Co

Ltd

194,522,662‌

673,680

Samsung

Electronics

Co

Ltd

(Preference)

26,896,477‌

125,322

(a)

Samsung

Engineering

Co

Ltd

2,208,753‌

26,098

Samsung

Fire

&

Marine

Insurance

Co

Ltd

4,990,523‌

532,667

(a)

Samsung

Heavy

Industries

Co

Ltd

2,700,344‌

64,694

Samsung

Life

Insurance

Co

Ltd

3,463,672‌

44,918

Samsung

SDI

Co

Ltd

14,222,594‌

31,786

Samsung

SDS

Co

Ltd

3,258,220‌

46,483

Samsung

Securities

Co

Ltd

1,217,684‌

29,904

Samsung

Techwin

Co

Ltd

2,248,213‌

167

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

KOREA,

REPUBLIC

OF—continued

366,562

Shinhan

Financial

Group

Co

Ltd

$

9,422,190‌

25,723

(a)

SK

Biopharmaceuticals

Co

Ltd

1,439,523‌

21,845

(a),(c)

SK

Bioscience

Co

Ltd

983,184‌

20,345

(a),(b)

SK

IE

Technology

Co

Ltd

897,111‌

50,114

(a)

SK

Innovation

Co

Ltd

4,565,613‌

79,639

(a)

SK

Square

Co

Ltd

2,516,428‌

31,422

SK,

Inc

3,312,848‌

15,683

SKC

Co

Ltd

917,168‌

44,524

S-Oil

Corp

2,197,374‌

504,934

Woori

Financial

Group,

Inc

4,459,956‌

107,349

Woori

Investment

&

Securities

Co

Ltd

770,167‌

45,145

Yuhan

Corp

1,924,448‌

TOTAL

KOREA,

REPUBLIC

OF

606,692,911‌

KUWAIT

-

0

.8

%

1,318,207

Agility

Public

Warehousing

Co

KSC

2,244,462‌

1,091,815

Boubyan

Bank

KSCP

2,069,008‌

1,492,719

Gulf

Bank

KSCP

1,144,239‌

6,619,602

Kuwait

Finance

House

KSCP

14,645,054‌

592,891

Mabanee

Co

SAK

1,582,135‌

1,797,822

Mobile

Telecommunications

Co

KSCP

2,796,817‌

6,160,621

National

Bank

of

Kuwait

SAKP

17,463,833‌

TOTAL

KUWAIT

41,945,548‌

LUXEMBOURG

-

0

.0

%

112,681

Reinet

Investments

S.C.A

2,341,346‌

TOTAL

LUXEMBOURG

2,341,346‌

MALAYSIA

-

1

.4

%

1,252,533

AMMB

Holdings

BHD

1,004,835‌

2,323,074

Axiata

Group

Bhd

1,062,899‌

5,162,352

Bumiputra-Commerce

Holdings

BHD

6,184,997‌

3,879,077

Dialog

Group

Bhd

1,750,204‌

2,906,039

Digi.Com

BHD

2,580,028‌

1,607,838

Gamuda

BHD

1,565,824‌

1,891,775

Genting

BHD

1,600,788‌

2,597,900

Genting

Malaysia

BHD

1,320,142‌

471,987

Hong

Leong

Bank

BHD

1,921,837‌

26,506

Hong

Leong

Credit

BHD

97,690‌

1,617,270

IHH

Healthcare

Bhd

2,035,809‌

2,115,100

Inari

Amertron

Bhd

1,268,124‌

2,128,700

IOI

Corp

BHD

1,756,370‌

396,011

Kuala

Lumpur

Kepong

BHD

1,828,046‌

4,457,049

Malayan

Banking

BHD

8,439,673‌

607,834

Malaysia

Airports

Holdings

Bhd

943,059‌

1,962,800

Maxis

Bhd

1,632,046‌

1,461,300

MISC

Bhd

2,223,617‌

1,423,187

(b)

MR

DIY

Group

M

Bhd

442,161‌

48,900

Nestle

Malaysia

Bhd

1,270,610‌

2,270,900

Petronas

Chemicals

Group

Bhd

3,501,740‌

317,100

Petronas

Dagangan

BHD

1,521,441‌

863,200

Petronas

Gas

BHD

3,116,180‌

479,059

PPB

Group

BHD

1,526,313‌

2,982,824

Press

Metal

Aluminium

Holdings

Bhd

3,083,273‌

11,694,715

Public

Bank

Bhd

10,214,183‌

788,250

QL

Resources

Bhd

914,896‌

1,208,647

RHB

Capital

BHD

1,415,691‌

2,026,165

Sime

Darby

BHD

973,810‌

1,731,665

Sime

Darby

Plantation

Bhd

1,578,637‌

884,351

Telekom

Malaysia

BHD

941,414‌

2,129,458

Tenaga

Nasional

BHD

4,424,732‌

TOTAL

MALAYSIA

74,141,069‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

168

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

MEXICO

-

2

.5

%

2,592,800

Alfa

S.A.

de

C.V.

(Class

A)

$

1,616,455‌

15,605,941

America

Movil

SAB

de

C.V.

12,888,816‌

414,157

Arca

Continental

SAB

de

C.V.

3,713,837‌

616,349

(b)

Banco

del

Bajio

S.A.

1,886,413‌

12,411,197

(a)

Cemex

S.A.

de

C.V.

7,455,392‌

433,110

Coca-Cola

Femsa

SAB

de

C.V.

3,286,101‌

2,389,200

Fibra

Uno

Administracion

S.A.

de

C.V.

3,627,068‌

1,596,677

(c)

Fomento

Economico

Mexicano

S.A.

de

C.V.

18,071,879‌

148,105

Gruma

SAB

de

C.V.

2,577,236‌

316,630

(c)

Grupo

Aeroportuario

del

Pacifico

S.A.

de

C.V.

(B

Shares)

3,693,519‌

154,286

Grupo

Aeroportuario

del

Sureste

S.A.

de

C.V.

(Class

B)

3,325,078‌

1,058,689

(c)

Grupo

Bimbo

S.A.

de

C.V.

(Series

A)

4,308,980‌

500,452

(c)

Grupo

Carso

S.A.

de

C.V.

(Series

A1)

3,191,079‌

2,127,228

Grupo

Financiero

Banorte

S.A.

de

C.V.

17,264,185‌

1,498,944

(a)

Grupo

Financiero

Inbursa

S.A.

3,091,172‌

2,550,032

Grupo

Mexico

S.A.

de

C.V.

(Series

B)

10,400,125‌

1,915,790

(c)

Grupo

Televisa

S.A.

878,783‌

164,904

(a),(c)

Industrias

Penoles

S.A.

de

C.V.

1,840,936‌

1,233,595

Kimberly-Clark

de

Mexico

S.A.

de

C.V.

(Class

A)

2,261,374‌

965,500

(c)

Operadora

De

Sites

Mexicanos

SAB

de

C.V.

820,961‌

791,023

Orbia

Advance

Corp

SAB

de

C.V.

1,281,590‌

155,580

(c)

Promotora

y

Operadora

de

Infraestructura

SAB

de

C.V.

1,273,531‌

73,604

Southern

Copper

Corp

5,218,524‌

4,274,389

Wal-Mart

de

Mexico

SAB

de

C.V.

15,299,036‌

TOTAL

MEXICO

129,272,070‌

PERU

-

0

.2

%

176,422

Cia

de

Minas

Buenaventura

S.A.

(ADR)

(Series

B)

1,429,018‌

55,214

Credicorp

Ltd

6,899,542‌

TOTAL

PERU

8,328,560‌

PHILIPPINES

-

0

.6

%

1,436,254

Aboitiz

Equity

Ventures,

Inc

1,159,533‌

200,953

Ayala

Corp

2,148,541‌

5,809,293

Ayala

Land,

Inc

2,858,469‌

1,645,763

Bank

of

the

Philippine

Islands

2,915,037‌

1,941,957

BDO

Unibank,

Inc

4,371,292‌

819,103

International

Container

Term

Services,

Inc

2,902,102‌

2,164,956

JG

Summit

Holdings

(Series

B)

1,404,276‌

328,110

Jollibee

Foods

Corp

1,186,051‌

266,441

Manila

Electric

Co

1,667,017‌

1,456,010

Metropolitan

Bank

&

Trust

1,342,075‌

64,125

PLDT,

Inc

1,370,227‌

192,585

SM

Investments

Corp

2,721,859‌

8,324,568

SM

Prime

Holdings

4,401,428‌

682,807

Universal

Robina

Corp

1,316,338‌

TOTAL

PHILIPPINES

31,764,245‌

POLAND

-

0

.9

%

379,424

(a),(b)

Allegro.eu

S.A.

2,721,715‌

147,249

Bank

Pekao

S.A.

4,474,481‌

28,913

(a)

Bank

Zachodni

WBK

S.A.

3,140,153‌

12,099

(a)

BRE

Bank

S.A.

1,495,718‌

9,151

Budimex

S.A.

1,024,395‌

52,720

CD

Projekt

S.A.

1,316,244‌

172,719

Cyfrowy

Polsat

S.A.

538,528‌

40,127

(a),(b)

Dino

Polska

S.A.

3,802,246‌

110,864

KGHM

Polska

Miedz

S.A.

2,958,437‌

862

LPP

S.A.

2,776,898‌

722,423

(a)

PGE

Polska

Grupa

Energetyczna

S.A.

1,254,644‌

475,119

Polski

Koncern

Naftowy

Orlen

S.A.

7,513,491‌

697,022

(a)

Powszechna

Kasa

Oszczednosci

Bank

Polski

S.A.

7,220,286‌

169

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

POLAND—continued

492,873

Powszechny

Zaklad

Ubezpieczen

S.A.

$

5,577,290‌

TOTAL

POLAND

45,814,526‌

QATAR

-

0

.9

%

2,038,373

Barwa

Real

Estate

Co

1,418,378‌

2,631,623

Commercial

Bank

PSQC

3,704,944‌

1,499,878

Dukhan

Bank

1,494,705‌

1,275,250

Industries

Qatar

QSC

4,284,005‌

4,928,843

Masraf

Al

Rayan

QSC

2,842,782‌

3,278,477

Mesaieed

Petrochemical

Holding

Co

1,434,104‌

708,702

Ooredoo

QPSC

1,925,038‌

351,566

Qatar

Electricity

&

Water

Co

QSC

1,597,352‌

568,279

Qatar

Fuel

QSC

2,317,754‌

2,399,308

Qatar

Gas

Transport

Co

Ltd

2,319,573‌

727,069

Qatar

International

Islamic

Bank

QSC

1,847,127‌

1,332,558

Qatar

Islamic

Bank

SAQ

6,368,171‌

3,747,689

Qatar

National

Bank

QPSC

15,326,308‌

TOTAL

QATAR

46,880,241‌

ROMANIA

-

0

.0

%

416,285

NEPI

Rockcastle

NV

2,248,330‌

TOTAL

ROMANIA

2,248,330‌

RUSSIA

-

0

.0

%

35,937

(a),(c),(d)

Ozon

Holdings

plc

(ADR)

359‌

911,463

(a),(d)

VTB

Bank

PJSC

(GDR)

Equiduct

9,115‌

281,650

(a),(d)

VTB

Bank

PJSC

(GDR)

Tradegate

2,816‌

TOTAL

RUSSIA

12,290‌

SAUDI

ARABIA

-

4

.1

%

78,186

ACWA

Power

Co

4,733,566‌

101,032

Advanced

Petrochemical

Co

1,005,885‌

1,588,850

Al

Rajhi

Bank

28,441,313‌

791,664

Alinma

Bank

6,948,138‌

206,649

Almarai

Co

JSC

3,079,134‌

531,999

Arab

National

Bank

3,369,308‌

20,234

Arabian

Internet

&

Communications

Services

Co

1,688,881‌

385,575

Bank

AlBilad

3,828,010‌

329,792

(a)

Bank

Al-Jazira

1,439,082‌

485,694

Banque

Saudi

Fransi

4,641,254‌

61,767

Bupa

Arabia

for

Cooperative

Insurance

Co

3,506,869‌

62,267

Co

for

Cooperative

Insurance

2,004,972‌

25,990

Dallah

Healthcare

Co

1,025,301‌

450,844

(a)

Dar

Al

Arkan

Real

Estate

Development

Co

1,814,624‌

71,119

Dr

Sulaiman

Al

Habib

Medical

Services

Group

Co

4,776,958‌

20,063

Elm

Co

3,749,914‌

326,545

Etihad

Etisalat

Co

4,012,614‌

442,393

Jarir

Marketing

Co

1,707,498‌

347,933

Mobile

Telecommunications

Co

Saudi

Arabia

1,280,916‌

79,190

Mouwasat

Medical

Services

Co

2,110,833‌

31,011

Nahdi

Medical

Co

1,172,531‌

238,217

(a)

National

Industrialization

Co

738,283‌

66,032

Power

&

Water

Utility

Co

for

Jubail

&

Yanbu

958,603‌

342,738

(a)

Rabigh

Refining

&

Petrochemical

Co

921,615‌

1,190,460

Riyad

Bank

8,424,862‌

195,471

SABIC

Agri-Nutrients

Co

6,978,911‌

281,771

Sahara

International

Petrochemical

Co

2,427,010‌

1,045,741

(a)

Saudi

Arabian

Mining

Co

10,019,449‌

2,335,081

(b)

Saudi

Arabian

Oil

Co

20,745,682‌

41,379

Saudi

Aramco

Base

Oil

Co

1,424,898‌

826,859

Saudi

Awwal

Bank

7,383,112‌

744,758

Saudi

Basic

Industries

Corp

15,304,216‌

681,441

Saudi

Electricity

Co

3,235,305‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

170

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SAUDI

ARABIA—continued

318,734

Saudi

Industrial

Investment

Group

$

2,038,705‌

383,763

Saudi

Investment

Bank

1,504,293‌

657,406

(a)

Saudi

Kayan

Petrochemical

Co

1,855,296‌

2,389,187

Saudi

National

Bank

21,378,792‌

27,526

(a)

Saudi

Research

&

Media

Group

1,034,248‌

39,032

Saudi

Tadawul

Group

Holding

Co

1,731,351‌

1,649,516

Saudi

Telecom

Co

16,897,820‌

217,158

Savola

Group

2,106,981‌

246,271

Yanbu

National

Petrochemical

Co

2,489,078‌

TOTAL

SAUDI

ARABIA

215,936,111‌

SOUTH

AFRICA

-

2

.8

%

684,012

Absa

Group

Ltd

6,241,359‌

82,381

African

Rainbow

Minerals

Ltd

678,850‌

51,098

Anglo

American

Platinum

Ltd

1,707,265‌

305,913

Aspen

Pharmacare

Holdings

Ltd

2,778,699‌

280,375

Bid

Corp

Ltd

5,948,087‌

228,677

(c)

Bidvest

Group

Ltd

3,236,876‌

70,687

Capitec

Bank

Holdings

Ltd

6,280,869‌

197,264

Clicks

Group

Ltd

2,906,859‌

442,065

Discovery

Ltd

3,049,804‌

234,834

Exxaro

Resources

Ltd

2,357,007‌

4,128,041

FirstRand

Ltd

13,608,891‌

726,944

Gold

Fields

Ltd

9,589,802‌

2,637,549

Growthpoint

Properties

Ltd

1,371,313‌

426,845

Harmony

Gold

Mining

Co

Ltd

1,957,029‌

712,152

(c)

Impala

Platinum

Holdings

Ltd

2,966,533‌

50,644

Kumba

Iron

Ore

Ltd

1,341,866‌

1,392,549

MTN

Group

Ltd

6,797,806‌

160,054

(a)

Naspers

Ltd

24,984,569‌

368,120

Nedbank

Group

Ltd

3,961,574‌

267,939

Northam

Platinum

Holdings

Ltd

1,617,194‌

4,149,346

(c)

Old

Mutual

Ltd

2,638,216‌

648,373

OUTsurance

Group

Ltd

1,402,677‌

1,584,596

(b)

Pepkor

Holdings

Ltd

1,445,373‌

406,409

Remgro

Ltd

3,141,806‌

1,491,379

Sanlam

Ltd

5,230,929‌

472,526

Sasol

Ltd

5,972,602‌

407,852

Shoprite

Holdings

Ltd

5,226,414‌

2,310,575

Sibanye

Stillwater

Ltd

2,947,257‌

1,111,578

Standard

Bank

Group

Ltd

10,907,928‌

489,220

(c)

Vodacom

Group

Ltd

2,663,247‌

764,590

Woolworths

Holdings

Ltd

2,846,675‌

TOTAL

SOUTH

AFRICA

147,805,376‌

TAIWAN

-

14

.7

%

415,344

Accton

Technology

Corp

6,435,448‌

2,381,380

Acer,

Inc

2,516,846‌

382,665

Advantech

Co

Ltd

3,929,868‌

2,575,011

ASE

Technology

Holding

Co

Ltd

9,015,059‌

1,802,512

Asia

Cement

Corp

2,225,876‌

584,500

Asustek

Computer,

Inc

6,128,557‌

5,559,800

AU

Optronics

Corp

2,691,193‌

490,389

Catcher

Technology

Co

Ltd

2,751,029‌

7,862,889

Cathay

Financial

Holding

Co

Ltd

10,670,328‌

1,238,881

Chailease

Holding

Co

Ltd

6,720,371‌

4,415,309

Chang

Hwa

Commercial

Bank

2,339,134‌

1,592,922

Cheng

Shin

Rubber

Industry

Co

Ltd

2,176,796‌

2,483,035

China

Airlines

1,488,469‌

12,719,522

China

Development

Financial

Holding

Corp

4,446,219‌

9,694,151

China

Steel

Corp

7,232,357‌

14,495,611

Chinatrust

Financial

Holding

Co

10,916,689‌

3,160,763

Chunghwa

Telecom

Co

Ltd

11,304,598‌

171

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TAIWAN—continued

3,609,000

Compal

Electronics,

Inc

$

3,139,233‌

1,587,768

Delta

Electronics,

Inc

14,308,784‌

690,000

E

Ink

Holdings,

Inc

3,590,153‌

11,334,959

E.Sun

Financial

Holding

Co

Ltd

8,352,038‌

144,316

Eclat

Textile

Co

Ltd

2,296,967‌

53,000

eMemory

Technology,

Inc

3,320,526‌

2,186,803

Eva

Airways

Corp

1,854,439‌

806,192

Evergreen

Marine

Corp

Taiwan

Ltd

2,682,827‌

2,495,071

Far

Eastern

Textile

Co

Ltd

2,273,289‌

1,374,589

Far

EasTone

Telecommunications

Co

Ltd

3,219,870‌

378,014

Feng

TAY

Enterprise

Co

Ltd

2,087,326‌

9,038,944

First

Financial

Holding

Co

Ltd

7,232,474‌

2,901,173

Formosa

Chemicals

&

Fibre

Corp

5,458,484‌

1,034,064

Formosa

Petrochemical

Corp

2,526,255‌

3,164,813

Formosa

Plastics

Corp

7,526,467‌

6,403,221

Fubon

Financial

Holding

Co

Ltd

11,907,393‌

8,285,229

Fuhwa

Financial

Holdings

Co

Ltd

6,224,832‌

257,086

Giant

Manufacturing

Co

Ltd

1,299,973‌

428,000

Gigabyte

Technology

Co

Ltd

2,907,806‌

72,000

Global

Unichip

Corp

3,217,898‌

177,535

Globalwafers

Co

Ltd

2,609,747‌

10,186,002

Hon

Hai

Precision

Industry

Co,

Ltd

30,402,299‌

251,540

Hotai

Motor

Co

Ltd

4,693,517‌

6,915,026

Hua

Nan

Financial

Holdings

Co

Ltd

4,336,578‌

7,216,282

InnoLux

Display

Corp

2,720,299‌

2,275,340

Inventec

Co

Ltd

2,850,464‌

80,125

Largan

Precision

Co

Ltd

5,131,752‌

1,693,778

Lite-On

Technology

Corp

5,273,595‌

1,248,464

MediaTek,

Inc

32,584,102‌

9,247,162

Mega

Financial

Holding

Co

Ltd

10,493,072‌

609,000

Micro-Star

International

Co

Ltd

3,117,671‌

67,100

momo.com,

Inc

1,106,239‌

3,912,271

Nan

Ya

Plastics

Corp

7,485,433‌

180,000

Nan

Ya

Printed

Circuit

Board

Corp

1,321,218‌

1,092,000

Nanya

Technology

Corp

2,189,218‌

130,000

Nien

Made

Enterprise

Co

Ltd

1,150,154‌

487,474

Novatek

Microelectronics

Corp

Ltd

6,865,130‌

1,611,000

Pegatron

Corp

3,759,466‌

192,025

(a)

PharmaEssentia

Corp

1,909,297‌

1,723,512

Pou

Chen

Corp

1,536,274‌

2,380,387

Powerchip

Semiconductor

Manufacturing

Corp

1,958,155‌

457,000

President

Chain

Store

Corp

3,635,137‌

2,227,000

Quanta

Computer,

Inc

13,148,888‌

405,085

Realtek

Semiconductor

Corp

5,048,519‌

1,142,975

Ruentex

Development

Co

Ltd

1,146,263‌

3,090,599

Shanghai

Commercial

&

Savings

Bank

Ltd

4,095,018‌

10,938,684

Shin

Kong

Financial

Holding

Co

Ltd

2,938,657‌

8,416,419

SinoPac

Financial

Holdings

Co

Ltd

4,641,788‌

994,522

Synnex

Technology

International

Corp

2,110,680‌

9,053,413

Taishin

Financial

Holdings

Co

Ltd

4,828,789‌

4,789,648

Taiwan

Business

Bank

1,888,388‌

5,220,039

Taiwan

Cement

Corp

5,201,331‌

8,217,816

Taiwan

Cooperative

Financial

Holding

Co

Ltd

6,381,685‌

1,590,561

Taiwan

High

Speed

Rail

Corp

1,444,136‌

1,390,861

Taiwan

Mobile

Co

Ltd

4,110,363‌

20,152,183

Taiwan

Semiconductor

Manufacturing

Co

Ltd

329,135,650‌

1,126,000

Unimicron

Technology

Corp

5,021,860‌

3,947,908

Uni-President

Enterprises

Corp

8,282,505‌

9,358,103

United

Microelectronics

Corp

13,458,019‌

662,000

Vanguard

International

Semiconductor

Corp

1,437,679‌

53,000

Voltronic

Power

Technology

Corp

2,125,508‌

2,320,529

Walsin

Lihwa

Corp

2,469,698‌

551,460

Wan

Hai

Lines

Ltd

788,180‌

Emerging

Markets

Equity

Index

Fund

October

31,

2023

172

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TAIWAN—continued

2,251,000

Winbond

Electronics

Corp

$

1,744,348‌

2,163,000

Wistron

Corp

6,031,525‌

71,000

Wiwynn

Corp

3,364,203‌

1,268,660

WPG

Holdings

Ltd

2,807,326‌

273,437

Yageo

Corp

4,457,990‌

1,390,000

Yang

Ming

Marine

Transport

1,811,697‌

506,127

Zhen

Ding

Technology

Holding

Ltd

1,530,243‌

TOTAL

TAIWAN

766,995,624‌

THAILAND

-

1

.9

%

998,000

Advanced

Info

Service

PCL

6,112,659‌

3,537,056

Airports

of

Thailand

PCL

6,566,957‌

4,994,500

Asset

World

Corp

PCL

480,592‌

706,500

B

Grimm

Power

PCL

434,605‌

9,151,799

Bangkok

Dusit

Medical

Services

PCL

6,739,867‌

4,624,383

Bangkok

Expressway

&

Metro

PCL

1,015,880‌

8,056,800

Banpu

PCL

(Foreign)

1,703,069‌

812,800

Berli

Jucker

PCL

639,436‌

3,990,500

BTS

Group

Holdings

PCL

827,407‌

494,800

Bumrungrad

Hospital

PCL

3,576,166‌

1,608,099

Central

Pattana

PCL

2,797,518‌

1,478,707

Central

Retail

Corp

PCL

1,512,317‌

2,775,380

Charoen

Pokphand

Foods

PCL

1,443,714‌

4,704,930

CP

ALL

plc

7,187,470‌

1,713,500

CP

Axtra

PCL

1,347,229‌

2,413,000

Delta

Electronics

Thailand

PCL

5,303,851‌

216,800

Electricity

Generating

PCL

735,941‌

1,303,803

Energy

Absolute

PCL

1,523,970‌

588,900

Global

Power

Synergy

PCL

639,299‌

2,191,550

Gulf

Energy

Development

PCL

2,637,612‌

4,127,826

Home

Product

Center

PCL

1,366,650‌

1,167,539

Indorama

Ventures

PCL

769,270‌

854,500

Intouch

Holdings

PCL

(Class

F)

1,687,867‌

465,700

Kasikornbank

PCL

(Foreign)

1,703,658‌

2,777,498

Krung

Thai

Bank

PCL

1,452,254‌

605,694

Krungthai

Card

PCL

737,334‌

7,261,552

Land

and

Houses

PCL

1,525,401‌

2,431,678

Minor

International

PCL

1,894,960‌

362,200

Muangthai

Capital

PCL

367,839‌

967,544

Osotspa

PCL

632,705‌

1,553,141

PTT

Exploration

&

Production

PCL

7,092,926‌

1,806,629

PTT

Global

Chemical

PCL

1,735,132‌

2,152,122

PTT

Oil

&

Retail

Business

PCL

1,095,926‌

9,593,532

PTT

PCL

8,826,143‌

965,227

Ratch

Group

PCL

865,989‌

656,001

SCB

X

PCL

1,786,241‌

918,000

SCG

Packaging

PCL

919,824‌

619,560

Siam

Cement

PCL

4,963,039‌

1,184,250

Thai

Oil

PCL

1,550,541‌

39,795,800

TMB

Bank

PCL

(Foreign)

1,848,673‌

8,462,481

True

Corp

PCL

1,427,173‌

TOTAL

THAILAND

97,475,104‌

TURKEY

-

0

.7

%

2,481,236

Akbank

TAS

2,581,185‌

1,147,708

Aselsan

Elektronik

Sanayi

Ve

Ticaret

AS

1,675,406‌

376,568

BIM

Birlesik

Magazalar

AS

3,616,850‌

1,115,379

Eregli

Demir

ve

Celik

Fabrikalari

TAS

1,493,178‌

57,620

Ford

Otomotiv

Sanayi

AS

1,599,852‌

829,250

Haci

Omer

Sabanci

Holding

AS

1,566,598‌

987,664

(a)

Hektas

Ticaret

TAS

766,355‌

615,481

KOC

Holding

AS

2,977,131‌

772,417

Koza

Altin

Isletmeleri

AS

598,966‌

173

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

TURKEY—continued

32,837

(a)

Pegasus

Hava

Tasimaciligi

AS.

$

817,468‌

817,466

(a)

Sasa

Polyester

Sanayi

AS

1,234,314‌

90,995

Tofas

Turk

Otomobil

Fabrik

773,414‌

438,056

(a)

Turk

Hava

Yollari

AO

3,361,303‌

1,015,797

(a)

Turkcell

Iletisim

Hizmet

AS

1,721,735‌

2,881,824

Turkiye

Is

Bankasi

(Series

C)

2,142,100‌

847,766

Turkiye

Petrol

Rafinerileri

AS

4,253,271‌

1,109,329

Turkiye

Sise

ve

Cam

Fabrikalari

AS

1,858,654‌

2,858,097

Yapi

ve

Kredi

Bankasi

1,744,333‌

TOTAL

TURKEY

34,782,113‌

UNITED

ARAB

EMIRATES

-

1

.3

%

2,373,255

Abu

Dhabi

Commercial

Bank

PJSC

5,188,466‌

1,184,156

Abu

Dhabi

Islamic

Bank

PJSC

3,320,666‌

2,602,585

Abu

Dhabi

National

Oil

Co

for

Distribution

PJSC

2,380,802‌

3,213,154

Aldar

Properties

PJSC

4,548,979‌

2,097,575

Americana

Restaurants

International

plc

2,112,994‌

2,293,936

Dubai

Islamic

Bank

PJSC

3,372,520‌

5,508,929

Emaar

Properties

PJSC

10,036,076‌

1,574,210

Emirates

NBD

Bank

PJSC

7,264,596‌

2,852,254

Emirates

Telecommunications

Group

Co

PJSC

14,335,042‌

3,588,479

First

Abu

Dhabi

Bank

PJSC

12,388,215‌

3,181,250

(a)

Multiply

Group

PJSC

2,947,771‌

TOTAL

UNITED

ARAB

EMIRATES

67,896,127‌

UNITED

KINGDOM

-

0

.1

%

338,754

AngloGold

Ashanti

UK

Ltd

6,253,126‌

133,637

(a),(b)

Pepco

Group

NV

541,646‌

TOTAL

UNITED

KINGDOM

6,794,772‌

UNITED

STATES

-

0

.1

%

612,465

JBS

S.A.

2,433,217‌

49,560

(a)

Legend

Biotech

Corp

(ADR)

3,274,429‌

65,000

Parade

Technologies

Ltd

2,131,147‌

TOTAL

UNITED

STATES

7,838,793‌

TOTAL

COMMON

STOCKS

5,135,807,340‌

(Cost

$5,023,987,350)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

KOREA,

REPUBLIC

OF

-

0

.0

%

12,461

(a)

Hanwha

Ocean

Co

Ltd

11/09/23

14,532‌

TOTAL

KOREA,

REPUBLIC

OF

14,532‌

KUWAIT

-

0

.0

%

115,874

(a)

Gulf

Bank

KSCP

11/12/23

2,396‌

TOTAL

KUWAIT

2,396‌

TOTAL

RIGHTS/WARRANTS

16,928‌

(Cost

$0)

TOTAL

LONG-TERM

INVESTMENTS

5,135,843,778‌

(Cost

$5,024,010,006)

Emerging

Markets

Equity

Index

Fund

October

31,

2023

174

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

1.6%

GOVERNMENT

AGENCY

DEBT

-

0

.3

%

$

5,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

12/12/23

$

4,970,678‌

10,000,000

FHLB

0

.000

01/05/24

9,906,934‌

TOTAL

GOVERNMENT

AGENCY

DEBT

14,877,612‌

REPURCHASE

AGREEMENT

-

1

.0

%

53,369,000

(e)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

53,369,000‌

TOTAL

REPURCHASE

AGREEMENT

53,369,000‌

TREASURY

DEBT

-

0

.3

%

10,000,000

United

States

Treasury

Bill

0

.000

11/30/23

9,957,394‌

5,955,000

United

States

Treasury

Bill

0

.000

01/04/24

5,898,891‌

TOTAL

TREASURY

DEBT

15,856,285‌

TOTAL

SHORT-TERM

INVESTMENTS

84,102,897‌

(Cost

$84,099,197)

SHARES

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.1%

3,384,225

(f)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

3,384,225‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

3,384,225‌

(Cost

$3,384,225)

TOTAL

INVESTMENTS

-

100.1%

5,223,330,900‌

(Cost

$5,111,493,428)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(

6,203,507‌

)

NET

ASSETS

-

100.0%

$

5,217,127,393‌

ADR

American

Depositary

Receipt

GDR

Global

Depositary

Receipt

INR

Indian

Rupee

(a)

Non-income

producing

(b)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(c)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$51,331,174.

(d)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(e)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$53,369,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.375%

and

maturity

date

1/31/26,

valued

at

$54,436,384.

(f)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

MSCI

EAFE

Index

2,074‌

12/15/23

 $

97,946,015‌

$

95,321,040‌

$

(

2,624,975‌

)

Portfolios

of

Investments

International

Equity

Index

Fund

October

31,

2023

175

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

LONG-TERM

INVESTMENTS

-

98.4%

COMMON

STOCKS

-

98.4%

AUSTRALIA

-

7

.5

%

340,578

Ampol

Ltd

$

6,906,155‌

1,865,377

APA

Group

9,778,195‌

830,860

Aristocrat

Leisure

Ltd

20,422,610‌

2,672,926

Aurizon

Holdings

Ltd

5,821,936‌

4,124,624

Australia

&

New

Zealand

Banking

Group

Ltd

65,041,097‌

281,496

Australian

Stock

Exchange

Ltd

10,057,162‌

7,007,587

BHP

Billiton

Ltd

198,367,059‌

608,774

BlueScope

Steel

Ltd

7,297,653‌

1,967,256

Brambles

Ltd

16,418,228‌

90,704

Cochlear

Ltd

13,902,576‌

1,861,215

Coles

Group

Ltd

18,064,363‌

2,312,730

Commonwealth

Bank

of

Australia

142,269,546‌

784,806

Computershare

Ltd

12,385,762‌

1,452,279

Dexus

Property

Group

5,998,183‌

204,129

EBOS

Group

Ltd

4,167,134‌

1,970,450

Endeavour

Group

Ltd

6,190,059‌

242,285

(a)

Flutter

Entertainment

plc

38,052,607‌

2,334,809

Fortescue

Metals

Group

Ltd

33,214,560‌

14,584,388

Glencore

plc

77,250,932‌

2,353,821

Goodman

Group

31,145,513‌

2,771,407

GPT

Group

6,395,932‌

368,389

IDP

Education

Ltd

5,089,797‌

908,471

Independence

Group

NL

5,501,127‌

3,350,723

Insurance

Australia

Group

Ltd

12,087,854‌

981,544

Lend

Lease

Corp

Ltd

3,887,395‌

3,230,507

Lottery

Corp

Ltd

9,325,076‌

504,448

Macquarie

Group

Ltd

51,852,155‌

3,844,819

Medibank

Pvt

Ltd

8,390,464‌

247,118

Mineral

Resources

Ltd

9,108,082‌

5,484,756

Mirvac

Group

6,363,706‌

4,320,908

National

Australia

Bank

Ltd

77,405,801‌

1,629,232

Northern

Star

Resources

Ltd

11,930,511‌

642,458

Orica

Ltd

6,003,076‌

2,403,973

Origin

Energy

Ltd

13,945,092‌

3,718,179

(b)

Pilbara

Minerals

Ltd

8,733,985‌

1,230,630

(a)

Qantas

Airways

Ltd

3,855,445‌

2,050,965

QBE

Insurance

Group

Ltd

20,337,585‌

263,163

Ramsay

Health

Care

Ltd

8,148,602‌

70,486

(b)

REA

Group

Ltd

6,470,944‌

297,803

Reece

Ltd

3,320,418‌

516,565

Rio

Tinto

Ltd

38,586,410‌

1,557,462

Rio

Tinto

plc

99,366,782‌

4,402,201

Santos

Ltd

21,480,348‌

7,150,591

Scentre

Group

11,077,631‌

473,796

Seek

Ltd

6,250,637‌

621,362

Sonic

Healthcare

Ltd

11,377,795‌

6,103,961

South32

Ltd

13,058,704‌

3,177,275

Stockland

Trust

Group

7,170,922‌

1,756,304

Suncorp-Metway

Ltd

14,949,025‌

5,887,108

Telstra

Corp

Ltd

14,275,515‌

4,251,380

Transurban

Group

32,006,462‌

945,586

Treasury

Wine

Estates

Ltd

7,257,972‌

5,537,380

Vicinity

Ltd

5,997,707‌

304,169

Washington

H

Soul

Pattinson

&

Co

Ltd

6,479,972‌

1,587,751

Wesfarmers

Ltd

51,084,009‌

4,855,150

Westpac

Banking

Corp

63,756,715‌

230,376

WiseTech

Global

Ltd

8,577,188‌

International

Equity

Index

Fund

October

31,

2023

176

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

AUSTRALIA—continued

2,629,742

Woodside

Energy

Group

Ltd

$

57,275,235‌

1,685,649

Woolworths

Ltd

37,732,861‌

TOTAL

AUSTRALIA

1,508,666,267‌

AUSTRIA

-

0

.3

%

480,331

Erste

Bank

der

Oesterreichischen

Sparkassen

AG.

17,200,301‌

683,734

Mondi

plc

11,059,739‌

202,728

OMV

AG.

8,891,288‌

93,417

Verbund

AG.

8,116,698‌

171,858

Voestalpine

AG.

4,291,466‌

TOTAL

AUSTRIA

49,559,492‌

BELGIUM

-

0

.8

%

228,760

Ageas

S.A.

8,787,320‌

1,202,296

Anheuser-Busch

InBev

S.A.

68,408,303‌

31,009

Dieteren

S.A.

4,606,101‌

38,122

Elia

Group

S.A.

3,619,913‌

125,363

Groupe

Bruxelles

Lambert

S.A.

9,169,119‌

352,281

KBC

Groep

NV

19,387,730‌

542

Lotus

Bakeries

NV

4,014,433‌

20,048

Sofina

S.A.

3,808,603‌

100,800

Solvay

S.A.

10,656,132‌

174,050

UCB

S.A.

12,730,017‌

286,666

Umicore

S.A.

6,820,596‌

223,983

Warehouses

De

Pauw

CVA

5,541,901‌

TOTAL

BELGIUM

157,550,168‌

BRAZIL

-

0

.0

%

219,065

Yara

International

ASA

7,168,231‌

TOTAL

BRAZIL

7,168,231‌

BURKINA

FASO

-

0

.0

%

263,696

Endeavour

Mining

plc

5,440,608‌

TOTAL

BURKINA

FASO

5,440,608‌

CHILE

-

0

.0

%

552,300

Antofagasta

plc

9,030,945‌

TOTAL

CHILE

9,030,945‌

CHINA

-

0

.5

%

5,286,114

BOC

Hong

Kong

Holdings

Ltd

13,979,337‌

2,225,679

(c)

Budweiser

Brewing

Co

APAC

Ltd

4,229,561‌

2,904,471

(c)

ESR

Group

Ltd

3,731,942‌

2,111,971

(a)

Prosus

NV

59,062,516‌

2,001,946

SITC

International

Holdings

Co

Ltd

3,083,807‌

2,541,850

Wilmar

International

Ltd

6,608,260‌

2,405,999

Xinyi

Glass

Holdings

Co

Ltd

2,764,540‌

TOTAL

CHINA

93,459,963‌

DENMARK

-

3

.4

%

4,268

AP

Moller

-

Maersk

AS

(Class

A)

6,968,625‌

6,767

AP

Moller

-

Maersk

AS

(Class

B)

11,275,383‌

136,920

Carlsberg

AS

(Class

B)

16,317,184‌

147,645

Chr

Hansen

Holding

A/S

10,075,248‌

186,940

Coloplast

A.S.

19,494,906‌

945,159

Danske

Bank

AS

22,172,218‌

134,660

(a)

Demant

A.S.

5,138,563‌

255,360

DSV

AS

38,161,227‌

91,417

(a)

Genmab

AS

25,842,016‌

4,514,180

Novo

Nordisk

A.S.

435,510,965‌

289,198

Novozymes

A.S.

12,997,411‌

259,433

Orsted

AS

12,535,573‌

116,482

Pandora

A.S.

13,211,447‌

177

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

DENMARK—continued

13,769

Rockwool

International

AS

(B

Shares)

$

3,063,916‌

489,071

Tryg

A.S.

9,550,361‌

1,402,813

Vestas

Wind

Systems

A.S.

30,405,643‌

TOTAL

DENMARK

672,720,686‌

FINLAND

-

1

.1

%

197,136

Elisa

Oyj

(Series

A)

8,360,273‌

642,868

Fortum

Oyj

7,633,048‌

374,713

Kesko

Oyj

(B

Shares)

6,336,955‌

487,820

Kone

Oyj

(Class

B)

21,124,246‌

933,923

Metso

Outotec

Oyj

8,228,262‌

587,819

Neste

Oil

Oyj

19,755,375‌

7,446,592

Nokia

Oyj

24,802,220‌

4,471,230

Nordea

Bank

Abp

47,091,959‌

150,380

Orion

Oyj

(Class

B)

5,982,945‌

624,158

(a)

Sampo

Oyj

24,547,391‌

814,116

Stora

Enso

Oyj

(R

Shares)

9,784,368‌

731,922

UPM-Kymmene

Oyj

24,648,144‌

690,431

Wartsila

Oyj

(B

Shares)

8,239,255‌

TOTAL

FINLAND

216,534,441‌

FRANCE

-

10

.3

%

258,081

Accor

S.A.

8,233,455‌

431,461

(a)

Adevinta

ASA

3,792,346‌

39,877

Aeroports

de

Paris

4,478,137‌

722,563

Air

Liquide

123,812,732‌

818,916

Airbus

SE

109,797,100‌

379,807

Alstom

RGPT

5,143,522‌

85,512

(c)

Amundi

S.A.

4,467,089‌

83,608

Arkema

7,834,301‌

2,548,760

AXA

S.A.

75,520,841‌

57,784

BioMerieux

5,547,981‌

1,463,355

BNP

Paribas

S.A.

84,148,775‌

978,432

Bollore

SE

5,341,305‌

252,857

Bouygues

S.A.

8,895,258‌

401,533

Bureau

Veritas

S.A.

9,146,029‌

227,178

Cap

Gemini

S.A.

40,148,900‌

828,428

Carrefour

S.A.

14,523,553‌

926,643

Cie

Generale

des

Etablissements

Michelin

S.C.A

27,529,128‌

641,717

Compagnie

de

Saint-Gobain

34,931,326‌

1,652,198

Credit

Agricole

S.A.

19,950,113‌

898,193

Danone

53,433,913‌

27,359

Dassault

Aviation

S.A.

5,438,674‌

930,025

Dassault

Systemes

SE

38,310,867‌

353,653

Edenred

18,825,468‌

101,968

Eiffage

S.A.

9,253,653‌

2,519,993

Engie

S.A.

40,080,197‌

407,358

Essilor

International

S.A.

73,765,786‌

57,498

Eurazeo

3,241,545‌

72,208

Fonciere

Des

Regions

3,094,429‌

66,380

Gecina

S.A.

6,517,908‌

501,708

Getlink

S.E.

8,101,927‌

43,799

Hermes

International

81,721,271‌

51,382

Ipsen

6,072,963‌

102,438

Kering

41,661,689‌

314,757

Klepierre

7,643,489‌

132,619

(c)

La

Francaise

des

Jeux

SAEM

4,277,882‌

367,420

Legrand

S.A.

31,784,168‌

333,498

L'Oreal

S.A.

140,179,365‌

382,134

LVMH

Moet

Hennessy

Louis

Vuitton

S.A.

273,581,324‌

2,589,577

Orange

S.

A.

30,458,713‌

280,837

Pernod-Ricard

S.A.

49,870,006‌

313,369

Publicis

Groupe

S.A.

23,860,949‌

International

Equity

Index

Fund

October

31,

2023

178

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

FRANCE—continued

31,971

Remy

Cointreau

S.A.

$

3,632,567‌

268,360

Renault

S.A.

9,415,201‌

471,454

Safran

S.A.

73,650,291‌

36,554

Sartorius

Stedim

Biotech

6,843,745‌

37,224

SEB

S.A.

3,680,944‌

1,021,462

Societe

Generale

22,954,061‌

120,461

Sodexho

Alliance

S.A.

12,748,217‌

79,968

Teleperformance

9,199,650‌

146,347

Thales

S.A.

21,597,534‌

3,113,105

Total

S.A.

208,134,395‌

168,495

(a)

Unibail-Rodamco-Westfield

8,348,790‌

329,317

Valeo

4,351,295‌

944,587

Veolia

Environnement

25,882,058‌

733,296

Vinci

S.A.

81,083,778‌

915,482

Vivendi

Universal

S.A.

8,209,583‌

37,275

Wendel

2,792,176‌

320,342

(a),(c)

Worldline

S.A.

4,073,443‌

TOTAL

FRANCE

2,051,015,805‌

GERMANY

-

8

.1

%

225,609

Adidas-Salomon

AG.

40,115,037‌

556,658

Allianz

AG.

130,392,957‌

1,230,924

BASF

SE

56,877,488‌

1,360,023

Bayer

AG.

58,764,633‌

436,679

Bayerische

Motoren

Werke

AG.

40,613,030‌

55,829

Bayerische

Motoren

Werke

AG.

(Preference)

4,747,118‌

110,201

Bechtle

AG.

4,925,192‌

138,657

Beiersdorf

AG.

18,236,167‌

200,429

Brenntag

SE

14,904,220‌

51,954

Carl

Zeiss

Meditec

AG.

4,511,295‌

1,463,353

Commerzbank

AG.

15,783,074‌

155,506

Continental

AG.

10,152,825‌

269,255

(c)

Covestro

AG.

13,641,041‌

1,106,267

Daimler

AG.

(Registered)

65,086,390‌

693,967

Daimler

Truck

Holding

AG.

21,804,597‌

2,684,336

Deutsche

Bank

AG.

(Registered)

29,539,915‌

264,455

Deutsche

Boerse

AG.

43,528,369‌

793,728

(a)

Deutsche

Lufthansa

AG.

5,565,596‌

1,356,183

Deutsche

Post

AG.

52,950,120‌

4,479,415

Deutsche

Telekom

AG.

97,219,719‌

156,618

Dr

ING

hc

F

Porsche

AG.

13,726,789‌

3,112,732

E.ON

AG.

37,035,665‌

293,824

Evonik

Industries

AG.

5,407,795‌

289,381

Fresenius

Medical

Care

AG.

9,615,020‌

583,402

Fresenius

SE

15,007,007‌

199,351

GEA

Group

AG.

6,817,886‌

86,894

Hannover

Rueckversicherung

AG.

19,187,354‌

196,882

HeidelbergCement

AG.

14,292,321‌

214,391

(a)

HelloFresh

SE

4,689,415‌

153,128

Henkel

KGaA

9,677,747‌

241,140

Henkel

KGaA

(Preference)

17,394,656‌

1,817,244

Infineon

Technologies

AG.

53,082,074‌

97,130

Knorr-Bremse

AG.

5,425,146‌

102,049

LEG

Immobilien

SE

6,379,250‌

181,233

Merck

KGaA

27,373,142‌

74,010

MTU

Aero

Engines

Holding

AG.

13,910,673‌

189,140

Muenchener

Rueckver

AG.

75,903,388‌

78,080

Nemetschek

SE

5,834,398‌

220,803

Porsche

AG.

9,882,723‌

145,501

Puma

AG.

Rudolf

Dassler

Sport

8,245,269‌

7,117

Rational

AG.

4,058,673‌

60,826

Rheinmetall

AG.

17,462,743‌

877,568

RWE

AG.

33,580,494‌

179

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

GERMANY—continued

1,441,147

SAP

AG.

$

193,304,402‌

35,677

Sartorius

AG.

8,942,077‌

100,956

(c)

Scout24

SE

6,210,822‌

1,052,806

Siemens

AG.

139,706,144‌

726,625

(b)

Siemens

Energy

AG.

6,460,370‌

390,472

(c)

Siemens

Healthineers

AG.

19,209,958‌

181,019

Symrise

AG.

18,498,201‌

91,467

Talanx

AG.

5,764,181‌

1,375,720

Telefonica

Deutschland

Holding

AG.

2,338,827‌

75,686

Volkswagen

AG.

8,749,292‌

250,698

Volkswagen

AG.

(Preference)

26,586,690‌

1,004,233

Vonovia

SE

23,119,534‌

28,715

Wacker

Chemie

AG.

3,523,995‌

312,834

(a),(c)

Zalando

SE

7,317,337‌

TOTAL

GERMANY

1,613,080,241‌

HONG

KONG

-

2

.1

%

16,111,591

AIA

Group

Ltd

139,909,879‌

2,678,613

CK

Asset

Holdings

Ltd

13,388,576‌

808,596

CK

Infrastructure

Holdings

Ltd

3,747,874‌

2,343,174

CLP

Holdings

Ltd

17,149,179‌

84,047

(a)

Futu

Holdings

Ltd

(ADR)

4,660,406‌

2,472,536

Hang

Lung

Properties

Ltd

3,250,042‌

1,055,505

Hang

Seng

Bank

Ltd

12,067,679‌

1,977,386

Henderson

Land

Development

Co

Ltd

5,173,748‌

5,235,025

HKT

Trust

&

HKT

Ltd

5,422,358‌

16,374,041

Hong

Kong

&

China

Gas

Ltd

11,398,113‌

1,914,977

Hong

Kong

Electric

Holdings

Ltd

9,155,168‌

1,667,835

Hong

Kong

Exchanges

and

Clearing

Ltd

58,345,276‌

1,580,829

Hongkong

Land

Holdings

Ltd

5,013,949‌

222,494

Jardine

Matheson

Holdings

Ltd

9,015,704‌

3,492,698

Link

REIT

16,028,478‌

2,030,312

MTR

Corp

7,589,679‌

2,158,980

New

World

Development

Co

Ltd

3,962,416‌

3,820,311

Prudential

plc

39,946,626‌

5,294,607

Sino

Land

Co

5,285,752‌

1,989,419

Sun

Hung

Kai

Properties

Ltd

20,428,746‌

563,764

Swire

Pacific

Ltd

(Class

A)

3,601,233‌

1,508,490

Swire

Properties

Ltd

2,920,747‌

1,876,498

Techtronic

Industries

Co

17,131,536‌

11,059,880

(c)

WH

Group

Ltd

6,605,325‌

2,306,992

Wharf

Real

Estate

Investment

Co

Ltd

8,069,948‌

TOTAL

HONG

KONG

429,268,437‌

IRELAND

-

0

.7

%

243,404

(a)

AerCap

Holdings

NV

15,120,257‌

2,044,059

AIB

Group

plc

8,874,327‌

1,507,653

Bank

of

Ireland

Group

plc

13,511,159‌

995,248

CRH

plc

53,315,435‌

13,289

CRH

plc

(Ireland)

713,179‌

228,193

Kerry

Group

plc

(Class

A)

17,626,500‌

211,942

Kingspan

Group

plc

14,263,452‌

354,407

Smurfit

Kappa

Group

plc

11,552,227‌

TOTAL

IRELAND

134,976,536‌

ISRAEL

-

0

.6

%

52,198

Azrieli

Group

Ltd

2,247,499‌

1,801,975

Bank

Hapoalim

Ltd

12,889,430‌

2,094,829

Bank

Leumi

Le-Israel

13,492,618‌

130,594

(a)

Check

Point

Software

Technologies

17,532,245‌

37,549

Elbit

Systems

Ltd

6,984,161‌

136,911

(a)

Global-e

Online

Ltd

4,806,945‌

1,104,440

Israel

Chemicals

Ltd

5,371,857‌

International

Equity

Index

Fund

October

31,

2023

180

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

ISRAEL—continued

1,717,389

Israel

Discount

Bank

Ltd

$

7,548,498‌

203,031

Mizrahi

Tefahot

Bank

Ltd

6,284,135‌

86,306

(a)

Nice

Systems

Ltd

13,230,341‌

1,578,606

(a)

Teva

Pharmaceutical

Industries

Ltd

(ADR)

13,544,439‌

73,452

(a)

Wix.com

Ltd

5,868,815‌

TOTAL

ISRAEL

109,800,983‌

ITALY

-

2

.3

%

179,984

Amplifon

S.p.A.

5,086,968‌

1,403,254

Assicurazioni

Generali

S.p.A.

27,873,736‌

305,255

Coca-Cola

HBC

AG.

7,924,925‌

726,507

Davide

Campari-Milano

NV

8,030,637‌

31,490

DiaSorin

S.p.A.

2,822,208‌

11,261,093

Enel

S.p.A.

71,480,696‌

3,282,518

ENI

S.p.A.

53,661,506‌

173,148

Ferrari

NV

52,412,573‌

850,069

FinecoBank

Banca

Fineco

S.p.A

10,027,960‌

504,668

Infrastrutture

Wireless

Italiane

S.p.A

5,526,029‌

21,501,976

Intesa

Sanpaolo

S.p.A.

56,029,655‌

753,242

(b)

Mediobanca

S.p.A.

8,997,810‌

285,000

Moncler

S.p.A

14,802,094‌

812,300

(a),(c)

Nexi

S.p.A

4,720,121‌

707,829

(c)

Poste

Italiane

S.p.A

7,007,675‌

364,733

Prysmian

S.p.A.

13,658,158‌

156,556

Recordati

S.p.A.

7,241,398‌

2,754,342

Snam

Rete

Gas

S.p.A.

12,630,148‌

12,757,792

(a),(b)

Telecom

Italia

S.p.A.

3,298,689‌

1,979,709

Terna

Rete

Elettrica

Nazionale

S.p.A.

15,158,699‌

2,558,332

UniCredit

S.p.A

64,136,392‌

TOTAL

ITALY

452,528,077‌

JAPAN

-

22

.6

%

1,052,772

Advantest

Corp

27,117,952‌

915,817

Aeon

Co

Ltd

19,268,441‌

195,280

Aisin

Seiki

Co

Ltd

6,802,550‌

631,838

Ajinomoto

Co,

Inc

23,076,409‌

207,152

(a)

All

Nippon

Airways

Co

Ltd

4,066,778‌

655,414

Asahi

Breweries

Ltd

23,706,579‌

265,412

Asahi

Glass

Co

Ltd

9,029,072‌

312,102

Asahi

Intecc

Co

Ltd

5,244,131‌

1,729,093

Asahi

Kasei

Corp

10,630,087‌

2,500,320

Astellas

Pharma,

Inc

31,628,722‌

160,407

Azbil

Corp

4,739,811‌

178,038

BayCurrent

Consulting,

Inc

4,469,955‌

790,160

Bridgestone

Corp

29,903,766‌

298,593

Brother

Industries

Ltd

4,658,124‌

1,374,718

(b)

Canon,

Inc

32,499,262‌

236,555

Capcom

Co

Ltd

7,614,544‌

1,014,975

Central

Japan

Railway

Co

22,845,458‌

694,668

Chiba

Bank

Ltd

5,174,262‌

925,817

Chubu

Electric

Power

Co,

Inc

11,187,708‌

935,732

Chugai

Pharmaceutical

Co

Ltd

27,750,597‌

1,473,968

Concordia

Financial

Group

Ltd

6,848,642‌

668,040

CyberAgent,

Inc

3,506,841‌

292,785

Dai

Nippon

Printing

Co

Ltd

7,637,958‌

412,539

Daifuku

Co

Ltd

6,816,336‌

1,307,595

Dai-ichi

Life

Holdings,

Inc

27,622,964‌

2,569,179

Daiichi

Sankyo

Co

Ltd

66,244,204‌

365,107

Daikin

Industries

Ltd

52,640,718‌

85,212

Daito

Trust

Construction

Co

Ltd

9,140,382‌

813,629

Daiwa

House

Industry

Co

Ltd

22,379,399‌

2,953

Daiwa

House

REIT

Investment

Corp

5,226,064‌

1,806,389

(a)

Daiwa

Securities

Group,

Inc

10,416,487‌

181

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

2,391,888

Denso

Corp

$

35,319,413‌

270,564

Dentsu,

Inc

7,858,795‌

125,965

Disco

Corp

22,245,294‌

522,726

Don

Quijote

Co

Ltd

10,123,034‌

426,823

East

Japan

Railway

Co

22,168,027‌

344,467

Eisai

Co

Ltd

18,249,283‌

3,915,028

ENEOS

Holdings,

Inc

14,506,810‌

1,306,657

Fanuc

Ltd

32,426,518‌

241,773

Fast

Retailing

Co

Ltd

53,527,673‌

169,527

(a)

Fuji

Electric

Holdings

Co

Ltd

6,454,674‌

846,832

Fuji

Heavy

Industries

Ltd

14,658,909‌

515,066

FUJIFILM

Holdings

Corp

28,172,957‌

242,971

Fujitsu

Ltd

31,476,276‌

6,471

GLP

J-Reit

5,795,797‌

64,754

GMO

Payment

Gateway,

Inc

2,586,226‌

296,416

Hakuhodo

DY

Holdings,

Inc

2,405,474‌

193,088

Hamamatsu

Photonics

KK

7,171,870‌

333,322

Hankyu

Hanshin

Holdings,

Inc

10,487,507‌

30,060

Hikari

Tsushin,

Inc

4,336,841‌

42,440

Hirose

Electric

Co

Ltd

4,808,410‌

144,377

(a)

Hitachi

Construction

Machinery

Co

Ltd

3,730,085‌

1,295,962

(a)

Hitachi

Ltd

82,146,596‌

6,395,514

Honda

Motor

Co

Ltd

65,546,164‌

167,784

Hoshizaki

Corp

5,418,523‌

491,007

(a)

Hoya

Corp

47,268,553‌

520,881

Hulic

Co

Ltd

4,775,503‌

158,412

Ibiden

Co

Ltd

6,754,126‌

277,526

Idemitsu

Kosan

Co

Ltd

6,301,253‌

227,283

Iida

Group

Holdings

Co

Ltd

3,529,066‌

1,350,572

Inpex

Holdings,

Inc

19,597,967‌

820,598

Isuzu

Motors

Ltd

9,150,202‌

1,645,469

Itochu

Corp

59,271,479‌

217,661

Japan

Airlines

Co

Ltd

4,001,431‌

2,057,971

Japan

Post

Bank

Co

Ltd

19,075,745‌

3,179,935

Japan

Post

Holdings

Co

Ltd

28,146,251‌

254,775

Japan

Post

Insurance

Co

Ltd

4,905,966‌

1,836

Japan

Real

Estate

Investment

Corp

6,819,494‌

9,491

Japan

Retail

Fund

Investment

Corp

6,124,986‌

1,660,773

Japan

Tobacco,

Inc

38,660,897‌

706,020

JFE

Holdings,

Inc

9,836,880‌

234,384

JSR

Corp

6,273,509‌

560,009

Kajima

Corp

9,255,485‌

992,326

Kansai

Electric

Power

Co,

Inc

12,705,574‌

646,291

Kao

Corp

23,579,212‌

195,418

(b)

Kawasaki

Kisen

Kaisha

Ltd

6,700,875‌

2,085,857

KDDI

Corp

62,397,838‌

142,893

Keio

Corp

4,240,273‌

173,342

Keisei

Electric

Railway

Co

Ltd

6,529,729‌

268,754

Keyence

Corp

104,039,631‌

186,653

Kikkoman

Corp

10,619,577‌

255,850

Kintetsu

Corp

7,198,788‌

1,080,872

Kirin

Brewery

Co

Ltd

15,189,836‌

67,910

Kobayashi

Pharmaceutical

Co

Ltd

2,803,545‌

196,221

Kobe

Bussan

Co

Ltd

4,856,087‌

172,774

Koei

Tecmo

Holdings

Co

Ltd

2,256,024‌

312,071

(a)

Koito

Manufacturing

Co

Ltd

4,675,676‌

1,266,850

Komatsu

Ltd

29,107,634‌

141,402

Konami

Corp

7,324,919‌

49,160

Kose

Corp

3,256,898‌

1,386,044

Kubota

Corp

18,641,241‌

146,996

Kurita

Water

Industries

Ltd

4,466,241‌

445,705

Kyocera

Corp

21,969,424‌

372,024

Kyowa

Hakko

Kogyo

Co

Ltd

5,834,929‌

International

Equity

Index

Fund

October

31,

2023

182

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

104,329

Lasertec

Corp

$

17,233,083‌

412,394

LIXIL

Group

Corp

4,521,929‌

614,899

M3,

Inc

9,470,175‌

316,876

Makita

Corp

8,190,241‌

1,992,553

Marubeni

Corp

29,134,665‌

462,102

Matsumotokiyoshi

Holdings

Co

Ltd

8,106,093‌

818,101

Mazda

Motor

Corp

7,907,755‌

126,837

(b)

McDonald's

Holdings

Co

Japan

Ltd

4,934,945‌

311,324

MEIJI

Holdings

Co

Ltd

7,662,931‌

512,777

Minebea

Co

Ltd

8,039,980‌

413,361

MISUMI

Group,

Inc

6,257,731‌

1,728,808

Mitsubishi

Chemical

Holdings

Corp

9,782,641‌

1,594,294

Mitsubishi

Corp

74,318,886‌

2,662,482

Mitsubishi

Electric

Corp

30,529,371‌

1,546,485

Mitsubishi

Estate

Co

Ltd

19,795,502‌

448,426

Mitsubishi

Heavy

Industries

Ltd

23,096,028‌

15,770,388

Mitsubishi

UFJ

Financial

Group,

Inc

132,300,105‌

1,141,044

Mitsubishi

UFJ

Lease

&

Finance

Co

Ltd

7,522,024‌

1,810,098

Mitsui

&

Co

Ltd

65,786,501‌

234,656

Mitsui

Chemicals,

Inc

5,914,379‌

1,227,679

Mitsui

Fudosan

Co

Ltd

26,609,768‌

484,783

(b)

Mitsui

OSK

Lines

Ltd

12,515,785‌

588,529

Mitsui

Sumitomo

Insurance

Group

Holdings,

Inc

21,564,004‌

3,307,269

Mizuho

Financial

Group,

Inc

56,152,070‌

354,127

MonotaRO

Co

Ltd

2,830,177‌

2,365,241

Murata

Manufacturing

Co

Ltd

40,515,105‌

823,281

Namco

Bandai

Holdings,

Inc

17,057,148‌

342,840

NEC

Corp

16,507,952‌

487,448

Nexon

Co

Ltd

8,944,305‌

319,232

NGK

Insulators

Ltd

3,900,457‌

577,467

Nidec

Corp

21,182,093‌

1,448,355

Nintendo

Co

Ltd

59,837,943‌

2,111

Nippon

Building

Fund,

Inc

8,481,858‌

110,619

Nippon

Express

Holdings,

Inc

5,685,305‌

1,310,191

Nippon

Paint

Co

Ltd

8,808,553‌

3,150

Nippon

ProLogis

REIT,

Inc

5,605,032‌

1,187,347

(b)

Nippon

Steel

Corp

25,609,700‌

41,388,086

Nippon

Telegraph

&

Telephone

Corp

48,704,454‌

670,047

(b)

Nippon

Yusen

Kabushiki

Kaisha

16,394,202‌

180,700

Nissan

Chemical

Industries

Ltd

7,369,880‌

3,220,668

Nissan

Motor

Co

Ltd

12,393,069‌

84,029

Nissin

Food

Products

Co

Ltd

7,311,248‌

112,111

Nitori

Co

Ltd

12,141,032‌

193,627

Nitto

Denko

Corp

12,528,782‌

4,135,070

(a)

Nomura

Holdings,

Inc

15,975,455‌

153,025

Nomura

Real

Estate

Holdings,

Inc

3,574,064‌

6,016

Nomura

Real

Estate

Master

Fund,

Inc

6,638,404‌

542,230

Nomura

Research

Institute

Ltd

14,233,500‌

842,059

NTT

Data

Corp

10,382,507‌

898,885

Obayashi

Corp

7,699,674‌

96,065

Obic

Co

Ltd

14,199,971‌

415,414

Odakyu

Electric

Railway

Co

Ltd

5,913,969‌

1,327,312

OJI

Paper

Co

Ltd

5,676,753‌

1,770,847

Olympus

Corp

23,650,283‌

237,432

Omron

Corp

8,506,526‌

534,382

Ono

Pharmaceutical

Co

Ltd

9,228,499‌

115,849

Open

House

Group

Co

Ltd

3,818,421‌

53,578

(a)

Oracle

Corp

Japan

3,800,806‌

1,525,492

Oriental

Land

Co

Ltd

49,342,589‌

1,603,350

ORIX

Corp

29,159,061‌

524,248

Osaka

Gas

Co

Ltd

9,886,150‌

713,169

Osaka

Securities

Exchange

Co

Ltd

14,102,770‌

153,937

Otsuka

Corp

6,172,043‌

183

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

531,926

Otsuka

Holdings

Co

Ltd

$

17,897,152‌

3,071,115

Panasonic

Corp

26,944,400‌

2,550,600

Persol

Holdings

Co

Ltd

3,824,407‌

2,095,778

(a)

Rakuten,

Inc

7,752,113‌

1,989,615

Recruit

Holdings

Co

Ltd

57,047,627‌

1,762,612

(a)

Renesas

Electronics

Corp

23,153,000‌

3,000,069

Resona

Holdings,

Inc

16,030,325‌

772,160

Ricoh

Co

Ltd

6,258,440‌

479,472

Rohm

Co

Ltd

7,682,080‌

339,128

SBI

Holdings,

Inc

7,296,315‌

295,069

Secom

Co

Ltd

20,493,960‌

392,842

Seiko

Epson

Corp

5,453,893‌

512,555

Sekisui

Chemical

Co

Ltd

7,020,399‌

812,160

Sekisui

House

Ltd

15,904,323‌

1,037,296

Seven

&

I

Holdings

Co

Ltd

38,005,177‌

459,787

SG

Holdings

Co

Ltd

6,517,302‌

395,853

(b)

Sharp

Corp

2,474,957‌

357,166

Shimadzu

Corp

8,445,651‌

108,064

Shimano,

Inc

15,551,064‌

863,406

Shimizu

Corp

6,144,416‌

2,519,826

Shin-Etsu

Chemical

Co

Ltd

75,351,281‌

360,449

Shionogi

&

Co

Ltd

16,784,165‌

553,718

Shiseido

Co

Ltd

17,561,427‌

644,043

Shizuoka

Financial

Group,

Inc

5,476,781‌

79,032

SMC

Corp

36,494,050‌

3,975,295

SoftBank

Corp

44,948,096‌

1,424,046

Softbank

Group

Corp

58,320,459‌

405,895

Sompo

Holdings,

Inc

17,583,348‌

1,744,593

Sony

Corp

145,043,448‌

125,566

Square

Enix

Co

Ltd

4,171,525‌

469,847

Sumco

Corp

6,071,433‌

238,012

Sumisho

Computer

Systems

Corp

4,062,927‌

1,887,873

Sumitomo

Chemical

Co

Ltd

4,798,525‌

1,446,539

Sumitomo

Corp

28,435,570‌

993,165

Sumitomo

Electric

Industries

Ltd

10,426,472‌

342,602

Sumitomo

Metal

Mining

Co

Ltd

9,624,359‌

1,758,197

Sumitomo

Mitsui

Financial

Group,

Inc

84,759,116‌

455,842

Sumitomo

Mitsui

Trust

Holdings,

Inc

17,092,609‌

393,285

Sumitomo

Realty

&

Development

Co

Ltd

9,869,067‌

192,023

Suntory

Beverage

&

Food

Ltd

5,778,557‌

504,601

Suzuki

Motor

Corp

19,584,576‌

236,024

Sysmex

Corp

11,306,211‌

685,647

T&D

Holdings,

Inc

12,231,406‌

231,862

Taisei

Corp

7,863,066‌

246,514

Taiyo

Nippon

Sanso

Corp

6,216,711‌

2,199,111

Takeda

Pharmaceutical

Co

Ltd

59,694,267‌

543,682

TDK

Corp

20,341,978‌

916,931

Terumo

Corp

25,085,565‌

293,615

TIS,

Inc

6,287,717‌

280,573

Tobu

Railway

Co

Ltd

6,753,233‌

168,832

Toho

Co

Ltd

5,767,819‌

2,507,464

Tokio

Marine

Holdings,

Inc

56,097,532‌

2,175,550

(a)

Tokyo

Electric

Power

Co,

Inc

9,206,360‌

653,290

Tokyo

Electron

Ltd

86,324,207‌

550,133

Tokyo

Gas

Co

Ltd

12,354,424‌

689,270

Tokyu

Corp

7,781,191‌

338,512

Toppan

Printing

Co

Ltd

7,807,397‌

1,871,956

Toray

Industries,

Inc

9,056,221‌

115,800

Toshiba

Corp

3,520,394‌

358,542

Tosoh

Corp

4,390,066‌

192,200

Toto

Ltd

4,634,249‌

204,562

Toyota

Industries

Corp

15,161,052‌

14,672,527

(a)

Toyota

Motor

Corp

256,677,360‌

International

Equity

Index

Fund

October

31,

2023

184

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

JAPAN—continued

296,269

Toyota

Tsusho

Corp

$

15,772,262‌

176,644

(a)

Trend

Micro,

Inc

6,656,761‌

565,598

Uni-Charm

Corp

19,218,386‌

274,501

USS

Co

Ltd

4,797,974‌

130,044

Welcia

Holdings

Co

Ltd

2,155,584‌

300,978

West

Japan

Railway

Co

11,471,640‌

353,802

Yakult

Honsha

Co

Ltd

8,337,319‌

190,492

Yamaha

Corp

5,088,027‌

416,102

Yamaha

Motor

Co

Ltd

10,168,222‌

360,940

Yamato

Transport

Co

Ltd

6,011,822‌

332,603

Yaskawa

Electric

Corp

10,887,135‌

306,547

Yokogawa

Electric

Corp

5,565,428‌

3,669,621

Z

Holdings

Corp

9,355,649‌

123,227

Zensho

Co

Ltd

6,477,035‌

187,177

ZOZO,

Inc

3,559,123‌

TOTAL

JAPAN

4,532,990,020‌

JORDAN

-

0

.0

%

228,618

Hikma

Pharmaceuticals

plc

5,296,970‌

TOTAL

JORDAN

5,296,970‌

KOREA,

REPUBLIC

OF

-

0

.0

%

242,152

(a),(c)

Delivery

Hero

SE

6,188,462‌

TOTAL

KOREA,

REPUBLIC

OF

6,188,462‌

LUXEMBOURG

-

0

.1

%

730,880

(a)

ArcelorMittal

S.A.

16,172,361‌

184,426

Eurofins

Scientific

SE

9,356,993‌

TOTAL

LUXEMBOURG

25,529,354‌

MACAU

-

0

.1

%

2,999,274

Galaxy

Entertainment

Group

Ltd

16,860,308‌

3,310,424

(a)

Sands

China

Ltd

8,911,826‌

TOTAL

MACAU

25,772,134‌

NETHERLANDS

-

5

.6

%

584,377

(c)

ABN

AMRO

Bank

NV

7,870,742‌

30,388

(a),(c)

Adyen

NV

20,496,276‌

2,290,503

Aegon

NV

11,139,328‌

237,416

Akzo

Nobel

NV

15,926,979‌

1,520

(a)

Argenx

SE

714,980‌

75,590

(a)

Argenx

SE

35,519,918‌

65,838

ASM

International

NV

27,170,031‌

559,138

ASML

Holding

NV

336,109,290‌

211,983

ASR

Nederland

NV

7,910,880‌

108,786

BE

Semiconductor

Industries

NV

11,237,561‌

120,521

(c)

Euronext

NV

8,404,963‌

20,515

EXOR

NV

1,760,785‌

133,546

(a)

EXOR

NV

11,437,232‌

680,200

Ferrovial

SE

20,471,328‌

179,549

Heineken

Holding

NV

13,660,717‌

397,817

Heineken

NV

35,741,256‌

74,932

IMCD

NV

9,021,481‌

5,024,758

ING

Groep

NV

64,420,036‌

183,792

JDE

Peet's

NV

5,102,902‌

1,347,214

Koninklijke

Ahold

Delhaize

NV

39,893,414‌

4,569,194

Koninklijke

KPN

NV

15,357,876‌

1,298,869

Koninklijke

Philips

Electronics

NV

24,707,702‌

343,584

NN

Group

NV

11,019,558‌

153,655

OCI

NV

3,580,281‌

151,253

Randstad

Holdings

NV

7,832,598‌

9,270,616

Shell

plc

298,762,517‌

1,134,284

Universal

Music

Group

NV

27,777,283‌

185

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

NETHERLANDS—continued

353,277

Wolters

Kluwer

NV

$

45,327,552‌

TOTAL

NETHERLANDS

1,118,375,466‌

NEW

ZEALAND

-

0

.2

%

1,737,906

Auckland

International

Airport

Ltd

7,431,778‌

806,678

Fisher

&

Paykel

Healthcare

Corp

9,780,085‌

1,006,349

Mercury

NZ

Ltd

3,459,163‌

1,737,975

Meridian

Energy

Ltd

4,894,763‌

2,509,409

Telecom

Corp

of

New

Zealand

Ltd

7,285,113‌

201,949

(a)

Xero

Ltd

13,806,692‌

TOTAL

NEW

ZEALAND

46,657,594‌

NORWAY

-

0

.6

%

441,490

Aker

BP

ASA

12,724,451‌

1,278,422

DNB

Bank

ASA

23,065,095‌

1,257,304

Equinor

ASA

42,148,848‌

294,297

Gjensidige

Forsikring

ASA

4,413,501‌

113,625

Kongsberg

Gruppen

ASA

4,641,544‌

603,896

Mowi

ASA

9,813,102‌

1,881,695

Norsk

Hydro

ASA

10,730,753‌

981,208

Orkla

ASA

6,762,970‌

101,935

Salmar

ASA

4,833,237‌

951,362

Telenor

ASA

9,725,196‌

TOTAL

NORWAY

128,858,697‌

PORTUGAL

-

0

.2

%

4,315,911

Energias

de

Portugal

S.A.

18,137,603‌

683,603

Galp

Energia

SGPS

S.A.

10,291,479‌

408,455

Jeronimo

Martins

SGPS

S.A.

9,416,878‌

TOTAL

PORTUGAL

37,845,960‌

SINGAPORE

-

1

.6

%

4,949,282

Ascendas

REIT

9,403,853‌

3,554,999

Capitaland

Investment

Ltd

7,633,229‌

7,475,271

CapitaMall

Trust

9,607,363‌

688,770

City

Developments

Ltd

3,179,230‌

2,502,762

DBS

Group

Holdings

Ltd

60,124,640‌

7,515,401

Genting

Singapore

Ltd

4,721,586‌

2,583,076

(a)

Grab

Holdings

Ltd

7,930,043‌

147,717

Jardine

Cycle

&

Carriage

Ltd

3,042,936‌

1,943,521

Keppel

Corp

Ltd

8,822,309‌

388,704

(d)

Keppel

REIT

225,706‌

4,633,037

Mapletree

Logistics

Trust

4,975,181‌

3,192,910

Mapletree

Pan

Asia

Commercial

Trust

3,103,206‌

4,648,887

Oversea-Chinese

Banking

Corp

43,100,349‌

512,418

(a)

Sea

Ltd

(ADR)

21,367,831‌

1,185,327

SembCorp

Industries

Ltd

3,976,660‌

58,821,732

(a)

SembCorp

Marine

Ltd

4,817,440‌

2,107,368

(b)

Singapore

Airlines

Ltd

9,409,947‌

1,257,287

Singapore

Exchange

Ltd

8,705,025‌

2,358,387

Singapore

Technologies

Engineering

Ltd

6,474,377‌

11,399,333

Singapore

Telecommunications

Ltd

19,808,322‌

943,901

STMicroelectronics

NV

35,981,592‌

1,737,623

United

Overseas

Bank

Ltd

34,274,072‌

671,065

UOL

Group

Ltd

2,890,165‌

TOTAL

SINGAPORE

313,575,062‌

SOUTH

AFRICA

-

0

.2

%

1,756,562

Anglo

American

plc

44,756,455‌

TOTAL

SOUTH

AFRICA

44,756,455‌

SPAIN

-

2

.5

%

35,688

Acciona

S.A.

4,499,314‌

International

Equity

Index

Fund

October

31,

2023

186

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SPAIN—continued

301,789

ACS

Actividades

de

Construccion

y

Servicios

S.A.

$

10,913,886‌

104,174

Aena

SME

S.A.

15,115,715‌

621,996

Amadeus

IT

Holding

S.A.

35,499,060‌

8,252,912

Banco

Bilbao

Vizcaya

Argentaria

S.A.

64,927,553‌

22,382,709

(b)

Banco

Santander

S.A.

82,322,111‌

5,795,347

CaixaBank

S.A.

23,561,214‌

787,923

(c)

Cellnex

Telecom

S.A.

23,161,858‌

99,628

Corp

ACCIONA

Energias

Renovables

S.A.

2,696,552‌

407,395

EDP

Renovaveis

S.A.

6,553,741‌

341,019

Enagas

5,704,800‌

424,973

Endesa

S.A.

7,995,727‌

429,486

Grifols

S.A.

4,819,393‌

8,403,376

Iberdrola

S.A.

93,462,499‌

1,521,589

(b)

Industria

de

Diseno

Textil

S.A.

52,522,160‌

181,173

(b)

Naturgy

Energy

Group

S.A.

5,126,231‌

550,633

Redeia

Corp

S.A.

8,587,076‌

1,768,719

Repsol

YPF

S.A.

25,897,844‌

7,101,989

(b)

Telefonica

S.A.

27,432,401‌

TOTAL

SPAIN

500,799,135‌

SWEDEN

-

2

.8

%

401,869

Alfa

Laval

AB

13,023,270‌

1,387,788

Assa

Abloy

AB

29,580,804‌

3,730,037

Atlas

Copco

AB

48,300,315‌

2,176,933

Atlas

Copco

AB

24,454,017‌

506,593

(b)

Beijer

Ref

AB

4,815,844‌

373,599

Boliden

AB

9,576,515‌

537,473

Epiroc

AB

7,462,979‌

906,111

Epiroc

AB

14,927,921‌

498,561

EQT

AB

9,108,613‌

3,992,646

Ericsson

(LM)

(B

Shares)

17,885,971‌

844,834

Essity

AB

19,263,781‌

252,355

(c)

Evolution

AB

22,486,195‌

1,043,246

(a)

Fastighets

AB

Balder

4,432,545‌

335,666

Getinge

AB

(B

Shares)

6,043,041‌

892,522

(b)

Hennes

&

Mauritz

AB

(B

Shares)

11,990,735‌

2,829,177

Hexagon

AB

23,056,744‌

132,660

Holmen

AB

5,006,569‌

530,722

(b)

Husqvarna

AB

(B

Shares)

3,438,951‌

211,663

(b)

Industrivarden

AB

5,458,640‌

175,534

Industrivarden

AB

4,542,013‌

358,984

Indutrade

AB

6,362,401‌

207,044

Investment

AB

Latour

3,585,656‌

2,383,686

Investor

AB

43,757,556‌

105,990

L

E

Lundbergforetagen

AB

4,328,628‌

309,912

Lifco

AB

5,670,755‌

2,139,326

Nibe

Industrier

AB

12,321,153‌

114,516

Saab

AB

(Class

B)

5,882,846‌

298,993

Sagax

AB

5,412,644‌

1,467,294

Sandvik

AB

24,992,433‌

682,495

Securitas

AB

(B

Shares)

5,467,062‌

2,159,498

Skandinaviska

Enskilda

Banken

AB

(Class

A)

24,098,944‌

476,150

Skanska

AB

(B

Shares)

7,148,879‌

476,318

SKF

AB

(B

Shares)

7,722,287‌

844,462

Svenska

Cellulosa

AB

(B

Shares)

11,587,247‌

2,045,529

Svenska

Handelsbanken

AB

17,439,545‌

1,168,165

Swedbank

AB

(A

Shares)

19,185,137‌

274,978

(a)

Swedish

Orphan

Biovitrum

AB

5,656,906‌

738,011

Tele2

AB

(B

Shares)

5,241,088‌

3,364,672

(b)

TeliaSonera

AB

7,132,920‌

256,628

Volvo

AB

(A

Shares)

5,145,210‌

2,072,847

Volvo

AB

(B

Shares)

41,073,857‌

187

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

SWEDEN—continued

833,649

(a),(b)

Volvo

Car

AB

$

2,875,333‌

TOTAL

SWEDEN

556,943,950‌

SWITZERLAND

-

6

.1

%

2,224,885

ABB

Ltd

74,751,036‌

218,832

Adecco

S.A.

8,281,379‌

694,249

Alcon,

Inc

49,691,656‌

45,758

Bachem

Holding

AG.

3,324,003‌

62,349

Baloise

Holding

AG.

8,952,434‌

44,721

(b)

Banque

Cantonale

Vaudoise

5,055,005‌

4,896

Barry

Callebaut

AG.

7,423,302‌

30,110

BKW

AG.

5,061,730‌

148

Chocoladefabriken

Lindt

&

Spruengli

AG.

16,107,294‌

723,816

Cie

Financiere

Richemont

S.A.

85,392,524‌

322,423

Clariant

AG.

4,580,960‌

253,766

DSM-Firmenich

AG.

23,005,362‌

127,787

(a)

Dufry

Group

4,479,478‌

9,323

EMS-Chemie

Holding

AG.

6,377,489‌

45,372

Geberit

AG.

21,125,820‌

12,717

Givaudan

S.A.

42,328,794‌

52,512

Helvetia

Holding

AG.

7,059,387‌

279,393

Julius

Baer

Group

Ltd

16,557,301‌

75,469

Kuehne

&

Nagel

International

AG.

20,351,244‌

1,403

Lindt

&

Spruengli

AG.

15,532,904‌

230,487

Logitech

International

S.A.

18,141,940‌

102,257

Lonza

Group

AG.

35,810,802‌

2,834,722

Novartis

AG.

265,385,418‌

31,670

Partners

Group

33,534,209‌

566,900

(a)

Sandoz

Group

AG.

14,738,839‌

54,548

Schindler

Holding

AG.

11,036,302‌

32,005

Schindler

Holding

AG.

(Registered)

6,239,083‌

208,173

SGS

S.A.

17,001,617‌

433,468

SIG

Group

AG.

9,556,532‌

202,303

Sika

AG.

48,413,006‌

71,611

Sonova

Holdings

AG

16,972,756‌

154,650

Straumann

Holding

AG.

18,277,167‌

44,230

(a)

Swatch

Group

AG.

11,321,817‌

50,748

Swatch

Group

AG.

(Registered)

2,457,765‌

41,027

Swiss

Life

Holding

26,350,846‌

104,077

Swiss

Prime

Site

AG.

9,673,739‌

36,697

Swisscom

AG.

21,988,432‌

93,238

Temenos

Group

AG.

6,717,384‌

4,566,105

UBS

Group

AG

107,287,159‌

37,963

(c)

VAT

Group

AG.

13,462,420‌

207,962

Zurich

Insurance

Group

AG

98,780,397‌

TOTAL

SWITZERLAND

1,218,586,732‌

UNITED

ARAB

EMIRATES

-

0

.0

%

121,704

(a),(e)

NMC

Health

plc

0‌

TOTAL

UNITED

ARAB

EMIRATES

0‌

UNITED

KINGDOM

-

11

.2

%

1,341,415

3i

Group

plc

31,627,312‌

2,744,056

Abrdn

plc

5,238,665‌

295,449

Admiral

Group

plc

8,778,596‌

605,521

Ashtead

Group

plc

34,728,104‌

473,332

Associated

British

Foods

plc

11,676,176‌

2,150,357

AstraZeneca

plc

269,232,456‌

1,258,443

(c)

Auto

Trader

Group

plc

9,519,175‌

3,759,224

Aviva

plc

18,208,053‌

4,231,635

BAE

Systems

plc

56,900,100‌

21,522,090

Barclays

plc

34,543,941‌

1,291,366

Barratt

Developments

plc

6,512,612‌

International

Equity

Index

Fund

October

31,

2023

188

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UNITED

KINGDOM—continued

138,555

Berkeley

Group

Holdings

plc

$

6,810,891‌

24,038,573

BP

plc

146,779,832‌

2,967,495

British

American

Tobacco

plc

88,646,208‌

8,981,910

BT

Group

plc

12,335,990‌

486,744

Bunzl

plc

17,365,164‌

504,078

Burberry

Group

plc

10,389,073‌

7,728,610

Centrica

plc

14,794,849‌

3,622,469

CK

Hutchison

Holdings

Ltd

18,337,966‌

1,414,124

CNH

Industrial

NV

15,671,290‌

284,071

(a)

Coca-Cola

Europacific

Partners

plc

16,620,994‌

2,428,970

Compass

Group

plc

61,237,630‌

187,100

Croda

International

plc

9,971,705‌

135,897

DCC

plc

7,549,623‌

3,132,426

Diageo

plc

118,455,739‌

890,924

Entain

plc

10,114,030‌

526,433

Halma

plc

11,838,607‌

481,621

Hargreaves

Lansdown

plc

4,147,935‌

27,339,609

HSBC

Holdings

plc

197,403,341‌

1,209,675

Imperial

Tobacco

Group

plc

25,771,111‌

1,909,909

Informa

plc

16,548,352‌

225,353

InterContinental

Hotels

Group

plc

15,969,079‌

238,945

Intertek

Group

plc

11,128,527‌

2,367,334

J

Sainsbury

plc

7,406,955‌

3,624,938

JD

Sports

Fashion

plc

5,636,178‌

237,826

Johnson

Matthey

plc

4,323,483‌

2,586,534

Kingfisher

plc

6,604,755‌

1,009,884

Land

Securities

Group

plc

7,000,214‌

8,114,067

Legal

&

General

Group

plc

20,905,912‌

88,549,443

Lloyds

TSB

Group

plc

43,096,901‌

590,298

London

Stock

Exchange

Group

plc

59,558,134‌

3,020,279

M&G

plc

7,293,469‌

1,899,200

Melrose

Industries

plc

10,813,613‌

5,105,136

National

Grid

plc

60,868,376‌

8,051,473

NatWest

Group

plc

17,518,523‌

162,156

Next

plc

13,595,546‌

861,419

(a)

Ocado

Group

plc

4,888,652‌

868,441

Pearson

plc

10,052,833‌

471,627

Persimmon

plc

5,840,628‌

994,290

Phoenix

Group

Holdings

plc

5,492,346‌

990,203

Reckitt

Benckiser

Group

plc

66,251,436‌

2,648,705

RELX

plc

92,513,145‌

3,427,246

Rentokil

Initial

plc

17,453,206‌

11,764,024

(a)

Rolls-Royce

Holdings

plc

30,965,538‌

1,415,122

Sage

Group

plc

16,717,979‌

1,111,272

Schroders

plc

5,004,118‌

1,507,173

Scottish

&

Southern

Energy

plc

29,952,885‌

1,573,984

Segro

plc

13,681,287‌

389,867

Severn

Trent

plc

12,585,817‌

1,180,975

Smith

&

Nephew

plc

13,216,431‌

532,573

Smiths

Group

plc

10,446,754‌

102,451

Spirax-Sarco

Engineering

plc

10,225,999‌

738,261

St.

James's

Place

plc

5,755,320‌

3,251,711

Standard

Chartered

plc

24,931,942‌

5,128,087

Taylor

Wimpey

plc

6,926,212‌

9,929,495

Tesco

plc

32,584,210‌

3,491,646

Unilever

plc

165,366,520‌

916,187

United

Utilities

Group

plc

11,849,559‌

30,495,425

Vodafone

Group

plc

28,072,184‌

276,659

Whitbread

plc

11,218,003‌

871,752

(a)

Wise

plc

7,085,372‌

1,467,802

WPP

plc

12,639,563‌

TOTAL

UNITED

KINGDOM

2,241,193,124‌

189

See

Notes

to

Financial

Statements

SHARES

DESCRIPTION

REFERENCERATE

&

SPREAD

VALUE

UNITED

STATES

-

6

.9

%

671,006

CSL

Ltd

$

99,169,391‌

58,827

(a)

CyberArk

Software

Ltd

9,626,450‌

1,263,523

Experian

Group

Ltd

38,333,757‌

5,694,826

GSK

plc

101,520,301‌

7,645,632

Haleon

plc

30,644,344‌

723,867

Holcim

Ltd

44,755,075‌

607,897

James

Hardie

Industries

plc

15,166,673‌

33,116

(a)

Monday.com

Ltd

4,304,749‌

3,684,060

Nestle

S.A.

397,284,336‌

327,617

(a)

QIAGEN

NV

12,209,663‌

45,335

(b)

Roche

Holding

AG.

12,354,289‌

969,905

Roche

Holding

AG.

249,953,794‌

1,577,864

Sanofi-Aventis

143,279,890‌

755,286

Schneider

Electric

S.A.

116,206,264‌

3,063,047

Stellantis

NV

57,224,896‌

414,512

Swiss

Re

AG.

45,290,736‌

673,443

Tenaris

S.A.

10,668,264‌

TOTAL

UNITED

STATES

1,387,992,872‌

TOTAL

COMMON

STOCKS

19,702,162,867‌

(Cost

$18,142,351,714)

TOTAL

LONG-TERM

INVESTMENTS

19,702,162,867‌

(Cost

$18,142,351,714)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.9%

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

$

5,000,000

Federal

Farm

Credit

Bank

(FFCB)

0

.000

%

12/18/23

4,966,402‌

5,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

11/02/23

4,999,287‌

8,750,000

FHLB

0

.000

11/03/23

8,747,504‌

5,000,000

FHLB

0

.000

11/08/23

4,995,009‌

278,000

FHLB

0

.000

12/12/23

276,370‌

10,315,000

FHLB

0

.000

01/05/24

10,219,002‌

TOTAL

GOVERNMENT

AGENCY

DEBT

34,203,574‌

REPURCHASE

AGREEMENT

-

0

.2

%

41,224,000

(f)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

41,224,000‌

TOTAL

REPURCHASE

AGREEMENT

41,224,000‌

TREASURY

DEBT

-

0

.5

%

2,000,000

United

States

Treasury

Bill

0

.000

11/02/23

1,999,708‌

40,000,000

United

States

Treasury

Bill

0

.000

11/07/23

39,964,800‌

10,000,000

United

States

Treasury

Bill

0

.000

11/14/23

9,980,902‌

30,000,000

United

States

Treasury

Bill

0

.000

11/30/23

29,872,182‌

25,000,000

United

States

Treasury

Bill

0

.000

12/19/23

24,822,942‌

5,955,000

United

States

Treasury

Bill

0

.000

01/04/24

5,898,891‌

TOTAL

TREASURY

DEBT

112,539,425‌

TOTAL

SHORT-TERM

INVESTMENTS

187,966,999‌

(Cost

$187,962,384)

SHARES

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.5%

91,111,657

(g)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

91,111,657‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

91,111,657‌

(Cost

$91,111,657)

International

Equity

Index

Fund

October

31,

2023

190

See

Notes

to

Financial

Statements

Portfolios

of

Investments

(continued)

SHARES

DESCRIPTION

RATE

VALUE

TOTAL

INVESTMENTS

-

99.8%

$

19,981,241,523‌

(Cost

$18,421,425,755)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.2%

36,270,412‌

NET

ASSETS

-

100.0%

$

20,017,511,935‌

ADR

American

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

(b)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$181,865,092.

(c)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(d)

When-issued

or

delayed

delivery

security.

(e)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(f)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$41,224,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$42,048,562.

(g)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Futures

Contracts

-

Long

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

MSCI

EAFE

Index

2,003‌

12/15/23

 $

201,835,589‌

$

197,706,115‌

$

(

4,129,474‌

)

Statement

of

Assets

and

Liabilities

See

Notes

to

Financial

Statements

192

October

31,

2023

4.1

Equity

Index

Fund

4.2

Large-Cap

Growth

Index

Fund

4.3

Large-Cap

Value

Index

Fund

ASSETS

Long-term

investments,

at

value

*†

$

35,957,080,075‌

$

10,526,336,121‌

$

7,974,797,987‌

Short-term

investments,

at

value

#

161,586,440‌

266,000‌

4,421,000‌

Investments

purchased

with

collateral

from

securities

lending,

at

value

(cost

approximates

value)

116,018,795‌

3,027,850‌

16,648,028‌

Cash

–‌

2,444‌

4,806‌

Cash

denominated

in

foreign

currencies

^

–‌

–‌

–‌

Cash

collateral

at

brokers

for

investments

in

futures

contracts

181,021‌

–‌

–‌

Receivables:

Dividends

24,510,249‌

4,113,975‌

8,432,882‌

Interest

7,955‌

39‌

651‌

Investments

sold

545,672‌

3,704,168‌

–‌

Reclaims

398‌

–‌

–‌

Reimbursement

from

Adviser

835,892‌

6‌

6‌

Shares

sold

73,375,054‌

5,040,576‌

3,908,006‌

Variation

margin

on

futures

contracts

785,974‌

–‌

–‌

Other

929,234‌

211,787‌

243,450‌

Total

assets

36,335,856,759‌

10,542,702,966‌

8,008,456,816‌

LIABILITIES

Due

to

affiliates

27,722‌

9,208‌

8,247‌

Cash

overdraft

3,086‌

–‌

–‌

Payables:

Collateral

from

securities

lending

116,018,795‌

3,027,850‌

16,648,028‌

Capital

gain

taxes

–‌

–‌

–‌

Investments

purchased

-

regular

settlement

101,138,623‌

883,363‌

5,395,695‌

Shares

redeemed

1,042,332‌

4,677,093‌

2,103,819‌

Service

agreement

fees

143,097‌

221,108‌

303,247‌

Variation

margin

on

futures

contracts

–‌

–‌

–‌

Accrued

expenses:

Custodian

fees

54,135‌

18,147‌

18,285‌

Management

fees

1,244,987‌

366,762‌

275,689‌

Professional

fees

84,278‌

22,432‌

19,426‌

Shareholder

reporting

expenses

40,843‌

51,711‌

45,152‌

Shareholder

servicing

agent

fees

65,455‌

4,765‌

2,523‌

Trustees

fees

591,344‌

184,694‌

182,978‌

12b-1

distribution

and

service

fees

282,354‌

–‌

–‌

Other

1,926‌

678‌

425‌

Total

liabilities

220,738,977‌

9,467,811‌

25,003,514‌

Net

assets

$

36,115,117,782‌

$

10,533,235,155‌

$

7,983,453,302‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

$

20,690,389,622‌

$

4,727,962,605‌

$

6,272,403,083‌

Total

distributable

earnings

(loss)

15,424,728,160‌

5,805,272,550‌

1,711,050,219‌

Net

assets

$

36,115,117,782‌

$

10,533,235,155‌

$

7,983,453,302‌

*

Includes

securities

loaned

of

$

175,203,491‌

$

12,505,245‌

$

27,218,903‌

†

Long-term

investments,

cost

$

20,468,969,883‌

$

4,821,519,865‌

$

6,503,828,958‌

#

Short-term

investments,

cost

$

161,579,095‌

$

266,000‌

$

4,421,000‌

^

Cash

denominated

in

foreign

currencies,

cost

$

–‌

$

–‌

$

–‌

See

Notes

to

Financial

Statements

193

4.4

S&P

500

Index

Fund

4.5

Small-Cap

Blend

Index

Fund

4.6

Emerging

Markets

Equity

Index

Fund

4.7

International

Equity

Index

Fund

$

7,785,950,260‌

$

2,769,973,798‌

$

5,135,843,778‌

$

19,702,162,867‌

57,199,398‌

14,250,975‌

84,102,897‌

187,966,999‌

333‌

99,758,456‌

3,384,225‌

91,111,657‌

385,822‌

1,551‌

824‌

13,548‌

–‌

–‌

1,129,544‌

1,837,599‌

45,242‌

1,035,506‌

2,439,450‌

5,611,860‌

5,890,409‌

824,441‌

6,388,155‌

48,513,619‌

3,805‌

1,017‌

8,216‌

6,069‌

–‌

348,600‌

6,110‌

–‌

–‌

684‌

125,159‌

47,027,243‌

13‌

–‌

537,101‌

367,010‌

4,132,126‌

960,810‌

12,546,824‌

21,654,581‌

305,466‌

123,580‌

–‌

540,554‌

161,413‌

380,010‌

241,826‌

7,320,580‌

7,854,074,287‌

2,887,659,428‌

5,246,754,109‌

20,114,134,186‌

8,027‌

4,538‌

7,645‌

17,250‌

–‌

–‌

–‌

–‌

333‌

99,758,456‌

3,384,225‌

91,111,657‌

–‌

–‌

24,347,205‌

–‌

–‌

–‌

3,720‌

224,141‌

10,228,893‌

853,454‌

48,322‌

3,381,873‌

483,218‌

136,677‌

121,867‌

389,187‌

–‌

–‌

552,556‌

–‌

14,989‌

14,368‌

599,545‌

225,700‌

271,324‌

98,726‌

458,882‌

679,407‌

17,420‌

8,304‌

13,034‌

47,367‌

13,258‌

18,205‌

264‌

–‌

2,062‌

1,974‌

3,464‌

5,118‌

153,488‌

84,374‌

78,206‌

360,264‌

–‌

–‌

4,750‌

17,151‌

–‌

1,333‌

3,031‌

163,136‌

11,193,012‌

100,980,409‌

29,626,716‌

96,622,251‌

$

7,842,881,275‌

$

2,786,679,019‌

$

5,217,127,393‌

$

20,017,511,935‌

$

3,752,854,890‌

$

2,438,882,432‌

$

5,899,189,400‌

$

19,137,238,000‌

4,090,026,385‌

347,796,587‌

(

682,062,007‌

)

880,273,935‌

$

7,842,881,275‌

$

2,786,679,019‌

$

5,217,127,393‌

$

20,017,511,935‌

$

1,681,564‌

$

137,328,174‌

$

51,331,174‌

$

181,865,092‌

$

3,709,824,650‌

$

2,403,422,865‌

$

5,024,010,006‌

$

18,142,351,714‌

$

57,195,678‌

$

14,249,318‌

$

84,099,197‌

$

187,962,384‌

$

–‌

$

–‌

$

1,133,264‌

$

1,841,780‌

Statement

of

Assets

and

Liabilities

(continued)

See

Notes

to

Financial

Statements

194

(continued)

(continued)

Statement

of

Assets

and

Liabilities

(continued)

October

31,

2023

4.1

Equity

Index

Fund

4.2

Large-Cap

Growth

Index

Fund

4.3

Large-Cap

Value

Index

Fund

INSTITUTIONAL

CLASS:

Net

assets

$

12,336,618,071‌

$

9,494,985,872‌

$

6,571,228,941‌

Shares

outstanding

415,474,448‌

208,119,650‌

307,896,201‌

Net

asset

value

per

share

$

29

.69‌

$

45

.62‌

$

21

.34‌

ADVISOR

CLASS:

Net

assets

$

11,988,146‌

$

170,530,846‌

$

101,090,927‌

Shares

outstanding

403,806‌

3,745,976‌

4,734,677‌

Net

asset

value

per

share

$

29

.69‌

$

45

.52‌

$

21

.35‌

PREMIER

CLASS:

Net

assets

$

40,778,327‌

$

–‌

$

–‌

Shares

outstanding

1,377,769‌

–‌

–‌

Net

asset

value

per

share

$

29

.60‌

$

–‌

$

–‌

RETIREMENT

CLASS:

Net

assets

$

647,237,407‌

$

867,718,437‌

$

1,311,133,434‌

Shares

outstanding

21,487,335‌

18,877,262‌

60,304,703‌

Net

asset

value

per

share

$

30

.12‌

$

45

.97‌

$

21

.74‌

RETAIL

CLASS:

Net

assets

$

1,276,703,108‌

$

–‌

$

–‌

Shares

outstanding

42,247,982‌

–‌

–‌

Net

asset

value

per

share

$

30

.22‌

$

–‌

$

–‌

CLASS

W:

Net

assets

$

21,801,792,723‌

$

–‌

$

–‌

Shares

outstanding

733,832,603‌

–‌

–‌

Net

asset

value

per

share

$

29

.71‌

$

–‌

$

–‌

Authorized

shares

-

per

class

Unlimited

Unlimited

Unlimited

Par

value

per

share

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

See

Notes

to

Financial

Statements

195

4.4

S&P

500

Index

Fund

4.5

Small-Cap

Blend

Index

Fund

4.6

Emerging

Markets

Equity

Index

Fund

4.7

International

Equity

Index

Fund

$

5,617,665,264‌

$

2,204,533,601‌

$

1,053,053,682‌

$

10,116,149,005‌

121,255,999‌

114,974,451‌

109,555,422‌

512,125,087‌

$

46

.33‌

$

19

.17‌

$

9

.61‌

$

19

.75‌

$

134,150,610‌

$

11,803,433‌

$

4,601,656‌

$

474,256,888‌

2,902,882‌

617,095‌

477,458‌

24,061,543‌

$

46

.21‌

$

19

.13‌

$

9

.64‌

$

19

.71‌

$

–‌

$

–‌

$

8,770,959‌

$

133,705,012‌

–‌

–‌

915,535‌

6,788,394‌

$

–‌

$

–‌

$

9

.58‌

$

19

.70‌

$

2,091,065,401‌

$

570,341,985‌

$

562,248,702‌

$

1,199,274,536‌

45,543,171‌

29,634,585‌

58,870,651‌

59,312,120‌

$

45

.91‌

$

19

.25‌

$

9

.55‌

$

20

.22‌

$

–‌

$

–‌

$

16,664,862‌

$

–‌

–‌

–‌

1,742,207‌

–‌

$

–‌

$

–‌

$

9

.57‌

$

–‌

$

–‌

$

–‌

$

3,571,787,532‌

$

8,094,126,494‌

–‌

–‌

370,676,963‌

409,474,113‌

$

–‌

$

–‌

$

9

.64‌

$

19

.77‌

Unlimited

Unlimited

Unlimited

Unlimited

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

$

0

.0001‌

Statement

of

Operations

See

Notes

to

Financial

Statements

196

Year

Ended

October

31,

2023

4.1

Equity

Index

Fund

4.2

Large-Cap

Growth

Index

Fund

4.3

Large-Cap

Value

Index

Fund

INVESTMENT

INCOME

Dividends

$

588,936,660‌

$

93,456,598‌

$

193,162,515‌

Interest

6,373,196‌

318,403‌

239,383‌

Securities

lending

income,

net

7,491,246‌

333,472‌

1,860,913‌

Tax

withheld

(

79,719‌

)

(

6,801‌

)

(

17,372‌

)

Total

investment

income

602,721,383‌

94,101,672‌

195,245,439‌

EXPENSES

Management

fees

14,345,951‌

3,942,212‌

3,267,854‌

12b-1

distribution

and

service

fees

—

Premier

Class

78,891‌

–‌

–‌

12b-1

distribution

and

service

fees

—

Retail

Class

3,243,287‌

–‌

–‌

Shareholder

servicing

agent

fees

—

Institutional

Class

21,540‌

28,984‌

16,968‌

Shareholder

servicing

agent

fees

—

Advisor

Class

12,335‌

104,552‌

41,089‌

Shareholder

servicing

agent

fees

—

Premier

Class

131‌

–‌

–‌

Shareholder

servicing

agent

fees

—

Retirement

Class

1,689,858‌

2,078,163‌

3,273,276‌

Shareholder

servicing

agent

fees

—

Retail

Class

372,844‌

–‌

–‌

Shareholder

servicing

agent

fees

—

Class

W

†

14,700‌

162‌

164‌

Administrative

service

fees

344,296‌

115,832‌

101,865‌

Trustees

fees

621,704‌

169,841‌

142,142‌

Custodian

expenses

216,559‌

70,925‌

71,130‌

Overdraft

expense

35,310‌

172,488‌

80,598‌

Professional

fees

192,006‌

66,378‌

62,402‌

Registration

fees

101,018‌

73,319‌

76,066‌

Shareholder

reporting

expenses

195,500‌

203,663‌

175,720‌

Other

223,481‌

103,329‌

102,772‌

Total

expenses

21,709,411‌

7,129,848‌

7,412,046‌

Expenses

reimbursed

by

the

investment

adviser

(

9,306,268‌

)

(

14,607‌

)

(

14,870‌

)

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

(

114,402‌

)

–‌

–‌

Net

expenses

12,288,741‌

7,115,241‌

7,397,176‌

Net

investment

income

(loss)

590,432,642‌

86,986,431‌

187,848,263‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss):

Investments

*

(

170,583,924‌

)

116,761,088‌

224,780,746‌

Futures

contracts

5,727,662‌

–‌

–‌

Foreign

currency

transactions

82,312‌

10,122‌

6,190‌

In-kind

redemptions

858,703,350‌

60,783,192‌

31,300,811‌

Net

realized

gain

(loss)

693,929,400‌

177,554,402‌

256,087,747‌

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

‡

1,511,090,203‌

1,380,695,941‌

(

438,129,888‌

)

Futures

contracts

(

5,545,140‌

)

–‌

–‌

Foreign

currency

translations

–‌

–‌

–‌

Net

change

in

unrealized

appreciation

(depreciation)

1,505,545,063‌

1,380,695,941‌

(

438,129,888‌

)

Net

realized

and

unrealized

gain

(loss)

2,199,474,463‌

1,558,250,343‌

(

182,042,141‌

)

Net

increase

(decrease)

in

net

assets

from

operations

$

2,789,907,105‌

$

1,645,236,774‌

$

5,806,122‌

*  

Net

of

foreign

capital

gains

tax

$

–‌

$

–‌

$

–‌

†

Represents

the

period

November

1,

2022

through

July

25,

2023

(date

of

dormancy)

for

Large-Cap

Growth

Index

Fund

and

Large-Cap

Value

Index

Fund,

and

the

period

November

1,

2022

through

August

9,

2023

(date

of

dormancy)

for

S&P

500

Index

Fund.

See

Notes

to

Financial

Statements.

‡

Net

of

change

in

unrealized

foreign

capital

gains

taxes

$

–‌

$

–‌

$

–‌

See

Notes

to

Financial

Statements

197

4.4

S&P

500

Index

Fund

4.5

Small-Cap

Blend

Index

Fund

4.6

Emerging

Markets

Equity

Index

Fund

4.7

International

Equity

Index

Fund

$

125,686,732‌

$

55,399,914‌

$

166,121,043‌

$

675,175,537‌

2,858,036‌

1,172,359‌

3,251,647‌

13,035,181‌

101,922‌

4,898,973‌

1,112,729‌

2,966,437‌

(

32,515‌

)

(

48,867‌

)

(

19,639,717‌

)

(

50,440,367‌

)

128,614,175‌

61,422,379‌

150,845,702‌

640,736,788‌

3,033,055‌

1,280,707‌

5,364,509‌

8,080,243‌

–‌

–‌

32,322‌

235,029‌

–‌

–‌

44,629‌

–‌

11,751‌

10,944‌

2,080‌

25,942‌

171,539‌

79,519‌

4,172‌

867,177‌

–‌

–‌

110‌

278‌

5,087,432‌

1,710,218‌

1,386,194‌

3,042,198‌

–‌

–‌

15,868‌

–‌

174‌

–‌

3,039‌

6,239‌

98,354‌

54,713‌

95,819‌

212,906‌

130,306‌

56,388‌

92,974‌

349,192‌

60,575‌

55,959‌

2,575,364‌

928,550‌

4,052‌

7,980‌

–‌

4,505‌

62,033‌

63,396‌

83,061‌

129,586‌

76,452‌

79,817‌

94,160‌

107,651‌

73,097‌

81,156‌

39,368‌

172,083‌

94,253‌

50,997‌

–‌

344,773‌

8,903,073‌

3,531,794‌

9,833,669‌

14,506,352‌

(

10,269‌

)

(

61,266‌

)

(

5,599,386‌

)

(

4,123,328‌

)

–‌

–‌

–‌

–‌

8,892,804‌

3,470,528‌

4,234,283‌

10,383,024‌

119,721,371‌

57,951,851‌

146,611,419‌

630,353,764‌

(

20,836,581‌

)

39,410,466‌

(

297,849,795‌

)

(

452,434,475‌

)

6,695,162‌

(

3,145,524‌

)

13,400,612‌

14,184,054‌

90,499‌

23,314‌

(

2,033,496‌

)

1,216,317‌

31,913,303‌

–‌

–‌

297,212,475‌

17,862,383‌

36,288,256‌

(

286,482,679‌

)

(

139,821,629‌

)

545,016,965‌

(

351,510,976‌

)

619,638,885‌

2,025,132,716‌

(

3,425,721‌

)

(

2,064,010‌

)

(

756,919‌

)

(

8,653,775‌

)

–‌

–‌

(

38,573‌

)

3,205,304‌

541,591,244‌

(

353,574,986‌

)

618,843,393‌

2,019,684,245‌

559,453,627‌

(

317,286,730‌

)

332,360,714‌

1,879,862,616‌

$

679,174,998‌

$

(

259,334,879‌

)

$

478,972,133‌

$

2,510,216,380‌

$

–‌

$

–‌

$

779,790‌

$

–‌

$

–‌

$

–‌

$

(

3,077,340‌

)

$

–‌

Statement

of

Changes

in

Net

Assets

See

Notes

to

Financial

Statements

198

4.1

Equity

Index

Fund

4.2

Large-Cap

Growth

Index

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

OPERATIONS

Net

investment

income

(loss)

$

590,432,642‌

$

492,673,307‌

$

86,986,431‌

$

80,146,577‌

Net

realized

gain

(loss)

693,929,400‌

(

56,326,305‌

)

177,554,402‌

832,290,875‌

Net

change

in

unrealized

appreciation

(depreciation)

1,505,545,063‌

(

6,341,683,204‌

)

1,380,695,941‌

(

3,617,474,536‌

)

Net

increase

(decrease)

in

net

assets

from

operations

2,789,907,105‌

(

5,905,336,202‌

)

1,645,236,774‌

(

2,705,037,084‌

)

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

–‌

–‌

Dividends:

Institutional

Class

(

207,746,156‌

)

(

258,288,260‌

)

(

774,802,434‌

)

(

822,082,470‌

)

Advisor

Class

(

187,086‌

)

(

603,572‌

)

(

5,812,190‌

)

(

6,760,565‌

)

Premier

Class

(

884,058‌

)

(

1,389,770‌

)

–‌

–‌

Retirement

Class

(

9,652,058‌

)

(

15,200,952‌

)

(

69,922,692‌

)

(

86,458,639‌

)

Retail

Class

(

18,451,427‌

)

(

26,852,902‌

)

–‌

–‌

Class

W

†

(

356,159,463‌

)

(

433,748,939‌

)

(

2,957,273‌

)

(

3,658,788‌

)

Total

distributions

(

593,080,248‌

)

(

736,084,395‌

)

(

853,494,589‌

)

(

918,960,462‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

4,719,590,532‌

7,185,685,832‌

2,721,533,617‌

2,674,750,905‌

Reinvestments

of

distributions

590,409,184‌

733,074,284‌

717,904,863‌

768,717,957‌

Redemptions

(

4,166,754,496‌

)

(

3,659,808,584‌

)

(

2,603,793,998‌

)

(

3,887,222,268‌

)

Net

increase

(decrease)

from

Fund

share

transactions

1,143,245,220‌

4,258,951,532‌

835,644,482‌

(

443,753,406‌

)

Net

increase

(decrease)

in

net

assets

3,340,072,077‌

(

2,382,469,065‌

)

1,627,386,667‌

(

4,067,750,952‌

)

Net

assets

at

the

beginning

of

period

32,775,045,705‌

35,157,514,770‌

8,905,848,488‌

12,973,599,440‌

Net

assets

at

the

end

of

period

$

36,115,117,782‌

$

32,775,045,705‌

$

10,533,235,155‌

$

8,905,848,488‌

†

For

the

year

ended

October

31,

2023,

represents

the

period

November

1,

2022

through

July

25,

2023

(date

of

dormancy)

for

Large-Cap

Growth

Index

Fund

and

Large-Cap

Value

Index

Fund,

and

the

period

November

1,

2022

through

August

9,

2023

(date

of

dormancy)

for

S&P

500

Index

Fund.

See

Notes

to

Financial

Statements.

See

Notes

to

Financial

Statements

199

4.3

Large-Cap

Value

Index

Fund

4.4

S&P

500

Index

Fund

4.5

Small-Cap

Blend

Index

Fund

4.6

Emerging

Markets

Equity

Index

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

$

187,848,263‌

$

173,321,351‌

$

119,721,371‌

$

105,535,117‌

$

57,951,851‌

$

50,052,877‌

$

146,611,419‌

$

149,561,446‌

256,087,747‌

182,522,000‌

17,862,383‌

466,516,853‌

36,288,256‌

(

29,575,718‌

)

(

286,482,679‌

)

(

271,661,661‌

)

(

438,129,888‌

)

(

970,102,839‌

)

541,591,244‌

(

1,749,092,179‌

)

(

353,574,986‌

)

(

864,509,673‌

)

618,843,393‌

(

1,692,155,639‌

)

5,806,122‌

(

614,259,488‌

)

679,174,998‌

(

1,177,040,209‌

)

(

259,334,879‌

)

(

844,032,514‌

)

478,972,133‌

(

1,814,255,854‌

)

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(

293,530,808‌

)

(

285,369,193‌

)

(

91,036,182‌

)

(

113,461,817‌

)

(

47,564,081‌

)

(

284,581,304‌

)

(

28,459,777‌

)

(

25,559,211‌

)

(

265,489‌

)

(

561,502‌

)

(

2,113,552‌

)

(

2,242,071‌

)

(

209,212‌

)

(

1,363,379‌

)

(

79,329‌

)

(

115,225‌

)

–‌

–‌

–‌

–‌

–‌

–‌

(

598,262‌

)

(

571,822‌

)

(

50,588,919‌

)

(

44,781,956‌

)

(

29,436,459‌

)

(

33,383,568‌

)

(

11,362,316‌

)

(

84,129,222‌

)

(

11,169,469‌

)

(

10,903,950‌

)

–‌

–‌

–‌

–‌

–‌

–‌

(

372,258‌

)

(

431,554‌

)

(

1,666,335‌

)

(

1,378,187‌

)

(

401,306‌

)

(

432,616‌

)

–‌

–‌

(

87,913,014‌

)

(

83,067,648‌

)

(

346,051,551‌

)

(

332,090,838‌

)

(

122,987,499‌

)

(

149,520,072‌

)

(

59,135,609‌

)

(

370,073,905‌

)

(

128,592,109‌

)

(

120,649,410‌

)

1,376,760,635‌

1,051,598,756‌

1,190,754,690‌

1,027,508,854‌

454,422,860‌

490,041,026‌

1,351,477,545‌

1,709,819,016‌

296,542,822‌

281,241,596‌

120,987,386‌

145,667,085‌

58,028,385‌

363,320,408‌

128,546,447‌

120,584,831‌

(

1,306,308,825‌

)

(

1,447,246,593‌

)

(

878,809,119‌

)

(

1,569,302,763‌

)

(

710,381,947‌

)

(

997,750,941‌

)

(

1,161,570,431‌

)

(

502,566,016‌

)

366,994,632‌

(

114,406,241‌

)

432,932,957‌

(

396,126,824‌

)

(

197,930,702‌

)

(

144,389,507‌

)

318,453,561‌

1,327,837,831‌

26,749,203‌

(

1,060,756,567‌

)

989,120,456‌

(

1,722,687,105‌

)

(

516,401,190‌

)

(

1,358,495,926‌

)

668,833,585‌

(

607,067,433‌

)

7,956,704,099‌

9,017,460,666‌

6,853,760,819‌

8,576,447,924‌

3,303,080,209‌

4,661,576,135‌

4,548,293,808‌

5,155,361,241‌

$

7,983,453,302‌

$

7,956,704,099‌

$

7,842,881,275‌

$

6,853,760,819‌

$

2,786,679,019‌

$

3,303,080,209‌

$

5,217,127,393‌

$

4,548,293,808‌

Statement

of

Changes

in

Net

Assets

(continued)

See

Notes

to

Financial

Statements

200

(continued)

(continued)

Statement

of

Changes

in

Net

Assets

(continued)

4.7

International

Equity

Index

Fund

Year

Ended

10/31/23

Year

Ended

10/31/22

OPERATIONS

Net

investment

income

(loss)

$

630,353,764‌

$

555,376,642‌

Net

realized

gain

(loss)

(

139,821,629‌

)

(

186,506,998‌

)

Net

change

in

unrealized

appreciation

(depreciation)

2,019,684,245‌

(

4,920,455,572‌

)

Net

increase

(decrease)

in

net

assets

from

operations

2,510,216,380‌

(

4,551,585,928‌

)

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

Dividends:

Institutional

Class

(

254,301,191‌

)

(

290,285,530‌

)

Advisor

Class

(

3,855,007‌

)

(

4,484,401‌

)

Premier

Class

(

3,975,163‌

)

(

5,262,544‌

)

Retirement

Class

(

27,469,586‌

)

(

36,894,510‌

)

Class

W

†

(

210,876,436‌

)

(

229,171,714‌

)

Total

distributions

(

500,477,383‌

)

(

566,098,699‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

4,522,263,209‌

3,766,113,474‌

Reinvestments

of

distributions

493,204,229‌

555,910,877‌

Redemptions

(

3,740,363,868‌

)

(

1,418,110,263‌

)

Net

increase

(decrease)

from

Fund

share

transactions

1,275,103,570‌

2,903,914,088‌

Net

increase

(decrease)

in

net

assets

3,284,842,567‌

(

2,213,770,539‌

)

Net

assets

at

the

beginning

of

period

16,732,669,368‌

18,946,439,907‌

Net

assets

at

the

end

of

period

$

20,017,511,935‌

$

16,732,669,368‌

†

For

the

year

ended

October

31,

2023,

represents

the

period

November

1,

2022

through

July

25,

2023

(date

of

dormancy)

for

Large-Cap

Growth

Index

Fund

and

Large-Cap

Value

Index

Fund,

and

the

period

November

1,

2022

through

August

9,

2023

(date

of

dormancy)

for

S&P

500

Index

Fund.

See

Notes

to

Financial

Statements.

Financial

Highlights

See

Notes

to

Financial

Statements

202

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

4.1

EQUITY

INDEX

FUND

Institutional

Class:

10/31/23

$

27

.90‌

$

0

.48‌

$

1

.81‌

$

2

.29‌

$

(

0

.43‌

)

$

(

0

.07‌

)

$

(

0

.50‌

)

$

29

.69‌

10/31/22

34

.12‌

0

.44‌

(

5

.95‌

)

(

5

.51‌

)

(

0

.41‌

)

(

0

.30‌

)

(

0

.71‌

)

27

.90‌

10/31/21

24

.07‌

0

.39‌

10

.06‌

10

.45‌

(

0

.40‌

)

—‌

(

0

.40‌

)

34

.12‌

10/31/20

22

.31‌

0

.39‌

1

.84‌

2

.23‌

(

0

.42‌

)

(

0

.05‌

)

(

0

.47‌

)

24

.07‌

10/31/19

20

.12‌

0

.43‌

2

.20‌

2

.63‌

(

0

.37‌

)

(

0

.07‌

)

(

0

.44‌

)

22

.31‌

Advisor

Class:

10/31/23

27

.88‌

0

.46‌

1

.81‌

2

.27‌

(

0

.39‌

)

(

0

.07‌

)

(

0

.46‌

)

29

.69‌

10/31/22

34

.11‌

0

.41‌

(

5

.95‌

)

(

5

.54‌

)

(

0

.39‌

)

(

0

.30‌

)

(

0

.69‌

)

27

.88‌

10/31/21

24

.05‌

0

.35‌

10

.06‌

10

.41‌

(

0

.35‌

)

—‌

(

0

.35‌

)

34

.11‌

10/31/20

22

.29‌

0

.40‌

1

.80‌

2

.20‌

(

0

.39‌

)

(

0

.05‌

)

(

0

.44‌

)

24

.05‌

10/31/19

20

.12‌

0

.40‌

2

.19‌

2

.59‌

(

0

.35‌

)

(

0

.07‌

)

(

0

.42‌

)

22

.29‌

Premier

Class:

10/31/23

27

.81‌

0

.44‌

1

.81‌

2

.25‌

(

0

.39‌

)

(

0

.07‌

)

(

0

.46‌

)

29

.60‌

10/31/22

34

.01‌

0

.39‌

(

5

.93‌

)

(

5

.54‌

)

(

0

.36‌

)

(

0

.30‌

)

(

0

.66‌

)

27

.81‌

10/31/21

23

.99‌

0

.35‌

10

.03‌

10

.38‌

(

0

.36‌

)

—‌

(

0

.36‌

)

34

.01‌

10/31/20

22

.24‌

0

.35‌

1

.83‌

2

.18‌

(

0

.38‌

)

(

0

.05‌

)

(

0

.43‌

)

23

.99‌

10/31/19

20

.05‌

0

.40‌

2

.19‌

2

.59‌

(

0

.33‌

)

(

0

.07‌

)

(

0

.40‌

)

22

.24‌

Retirement

Class:

10/31/23

28

.29‌

0

.42‌

1

.83‌

2

.25‌

(

0

.35‌

)

(

0

.07‌

)

(

0

.42‌

)

30

.12‌

10/31/22

34

.59‌

0

.37‌

(

6

.04‌

)

(

5

.67‌

)

(

0

.33‌

)

(

0

.30‌

)

(

0

.63‌

)

28

.29‌

10/31/21

24

.40‌

0

.32‌

10

.21‌

10

.53‌

(

0

.34‌

)

—‌

(

0

.34‌

)

34

.59‌

10/31/20

22

.62‌

0

.34‌

1

.85‌

2

.19‌

(

0

.36‌

)

(

0

.05‌

)

(

0

.41‌

)

24

.40‌

10/31/19

20

.39‌

0

.38‌

2

.24‌

2

.62‌

(

0

.32‌

)

(

0

.07‌

)

(

0

.39‌

)

22

.62‌

Retail

Class:

10/31/23

28

.39‌

0

.41‌

1

.85‌

2

.26‌

(

0

.36‌

)

(

0

.07‌

)

(

0

.43‌

)

30

.22‌

10/31/22

34

.70‌

0

.38‌

(

6

.07‌

)

(

5

.69‌

)

(

0

.32‌

)

(

0

.30‌

)

(

0

.62‌

)

28

.39‌

10/31/21

24

.48‌

0

.32‌

10

.23‌

10

.55‌

(

0

.33‌

)

—‌

(

0

.33‌

)

34

.70‌

10/31/20

22

.69‌

0

.33‌

1

.86‌

2

.19‌

(

0

.35‌

)

(

0

.05‌

)

(

0

.40‌

)

24

.48‌

10/31/19

20

.45‌

0

.38‌

2

.24‌

2

.62‌

(

0

.31‌

)

(

0

.07‌

)

(

0

.38‌

)

22

.69‌

Class

W:

10/31/23

27

.91‌

0

.50‌

1

.81‌

2

.31‌

(

0

.44‌

)

(

0

.07‌

)

(

0

.51‌

)

29

.71‌

10/31/22

34

.13‌

0

.45‌

(

5

.94‌

)

(

5

.49‌

)

(

0

.43‌

)

(

0

.30‌

)

(

0

.73‌

)

27

.91‌

10/31/21

24

.08‌

0

.41‌

10

.05‌

10

.46‌

(

0

.41‌

)

—‌

(

0

.41‌

)

34

.13‌

10/31/20

22

.32‌

0

.39‌

1

.85‌

2

.24‌

(

0

.43‌

)

(

0

.05‌

)

(

0

.48‌

)

24

.08‌

10/31/19

20

.13‌

0

.44‌

2

.19‌

2

.63‌

(

0

.37‌

)

(

0

.07‌

)

(

0

.44‌

)

22

.32‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

203

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

8

.32‌

%

$

12,336,618‌

0

.05‌

%

0

.05‌

%

1

.64‌

%

4‌

%

f

(

16

.50‌

)

11,632,072‌

0

.05‌

0

.05‌

1

.46‌

7‌

43

.84‌

12,335,597‌

0

.05‌

0

.05‌

1

.30‌

7‌

f

10

.10‌

9,563,188‌

0

.05‌

0

.05‌

1

.69‌

12‌

f

13

.47‌

9,034,344‌

0

.05‌

0

.05‌

2

.08‌

4‌

8

.25‌

11,988‌

0

.15‌

0

.15‌

1

.54‌

4‌

f

(

16

.59‌

)

11,341‌

0

.15‌

0

.15‌

1

.33‌

7‌

43

.66‌

14,119‌

0

.17‌

0

.17‌

1

.16‌

7‌

f

9

.97‌

9,404‌

0

.17‌

0

.17‌

1

.71‌

12‌

f

13

.26‌

49,888‌

0

.19‌

0

.19‌

1

.93‌

4‌

8

.18‌

40,778‌

0

.20‌

0

.20‌

1

.50‌

4‌

f

(

16

.62‌

)

54,969‌

0

.20‌

0

.20‌

1

.30‌

7‌

43

.64‌

71,581‌

0

.20‌

0

.20‌

1

.15‌

7‌

f

9

.92‌

57,737‌

0

.20‌

0

.20‌

1

.55‌

12‌

f

13

.28‌

63,211‌

0

.20‌

0

.20‌

1

.92‌

4‌

8

.05‌

647,237‌

0

.30‌

0

.30‌

1

.39‌

4‌

f

(

16

.71‌

)

651,723‌

0

.30‌

0

.30‌

1

.20‌

7‌

43

.50‌

838,804‌

0

.30‌

0

.30‌

1

.05‌

7‌

f

9

.79‌

612,612‌

0

.30‌

0

.30‌

1

.45‌

12‌

f

13

.18‌

662,900‌

0

.30‌

0

.30‌

1

.83‌

4‌

8

.05‌

1,276,703‌

0

.32‌

0

.32‌

1

.37‌

4‌

f

(

16

.70‌

)

1,231,300‌

0

.32‌

0

.28‌

1

.22‌

7‌

43

.45‌

1,493,507‌

0

.32‌

0

.32‌

1

.02‌

7‌

f

9

.77‌

1,070,150‌

0

.33‌

0

.33‌

1

.41‌

12‌

f

13

.15‌

1,028,244‌

0

.33‌

0

.33‌

1

.80‌

4‌

8

.40‌

21,801,793‌

0

.05‌

0.00‌

1

.68‌

4‌

f

(

16

.46‌

)

19,193,641‌

0

.05‌

0.00‌

1

.50‌

7‌

43

.88‌

20,403,908‌

0

.05‌

0.00‌

1

.34‌

7‌

f

10

.14‌

14,941,901‌

0

.05‌

0.00‌

1

.71‌

12‌

f

13

.48‌

11,566,892‌

0

.05‌

0.00‌

2

.13‌

4‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

204

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

4.2

LARGE-CAP

GROWTH

INDEX

FUND

Institutional

Class:

10/31/23

$

42

.43‌

$

0

.39‌

$

6

.88‌

$

7

.27‌

$

(

0

.41‌

)

$

(

3

.67‌

)

$

(

4

.08‌

)

$

45

.62‌

10/31/22

61

.25‌

0

.41‌

(

14

.17‌

)

(

13

.76‌

)

(

0

.50‌

)

(

4

.56‌

)

(

5

.06‌

)

42

.43‌

10/31/21

43

.65‌

0

.39‌

18

.15‌

18

.54‌

(

0

.35‌

)

(

0

.59‌

)

(

0

.94‌

)

61

.25‌

10/31/20

34

.63‌

0

.39‌

9

.50‌

9

.89‌

(

0

.40‌

)

(

0

.47‌

)

(

0

.87‌

)

43

.65‌

10/31/19

30

.73‌

0

.41‌

4

.59‌

5

.00‌

(

0

.39‌

)

(

0

.71‌

)

(

1

.10‌

)

34

.63‌

Advisor

Class:

10/31/23

42

.34‌

0

.33‌

6

.88‌

7

.21‌

(

0

.36‌

)

(

3

.67‌

)

(

4

.03‌

)

45

.52‌

10/31/22

61

.13‌

0

.35‌

(

14

.14‌

)

(

13

.79‌

)

(

0

.44‌

)

(

4

.56‌

)

(

5

.00‌

)

42

.34‌

10/31/21

43

.57‌

0

.32‌

18

.12‌

18

.44‌

(

0

.29‌

)

(

0

.59‌

)

(

0

.88‌

)

61

.13‌

10/31/20

34

.57‌

0

.33‌

9

.50‌

9

.83‌

(

0

.36‌

)

(

0

.47‌

)

(

0

.83‌

)

43

.57‌

10/31/19

30

.68‌

0

.37‌

4

.59‌

4

.96‌

(

0

.36‌

)

(

0

.71‌

)

(

1

.07‌

)

34

.57‌

Retirement

Class:

10/31/23

42

.70‌

0

.29‌

6

.94‌

7

.23‌

(

0

.29‌

)

(

3

.67‌

)

(

3

.96‌

)

45

.97‌

10/31/22

61

.61‌

0

.29‌

(

14

.28‌

)

(

13

.99‌

)

(

0

.36‌

)

(

4

.56‌

)

(

4

.92‌

)

42

.70‌

10/31/21

43

.91‌

0

.26‌

18

.27‌

18

.53‌

(

0

.24‌

)

(

0

.59‌

)

(

0

.83‌

)

61

.61‌

10/31/20

34

.83‌

0

.29‌

9

.57‌

9

.86‌

(

0

.31‌

)

(

0

.47‌

)

(

0

.78‌

)

43

.91‌

10/31/19

30

.89‌

0

.33‌

4

.63‌

4

.96‌

(

0

.31‌

)

(

0

.71‌

)

(

1

.02‌

)

34

.83‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

205

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

18

.86‌

%

$

9,494,986‌

0

.05‌

%

0

.05‌

%

0

.90‌

%

32‌

%

f

(

24

.65‌

)

8,034,639‌

0

.05‌

0

.05‌

0

.84‌

34‌

43

.11‌

10,180,858‌

0

.05‌

0

.05‌

0

.73‌

31‌

29

.14‌

7,537,182‌

0

.05‌

0

.05‌

1

.00‌

33‌

f

17

.03‌

6,833,846‌

0

.05‌

0

.05‌

1

.28‌

28‌

18

.74‌

170,531‌

0

.16‌

0

.16‌

0

.76‌

32‌

f

(

24

.73‌

)

84,495‌

0

.16‌

0

.16‌

0

.72‌

34‌

42

.93‌

81,993‌

0

.17‌

0

.17‌

0

.61‌

31‌

29

.00‌

63,667‌

0

.18‌

0

.18‌

0

.86‌

33‌

f

16

.90‌

49,158‌

0

.18‌

0

.18‌

1

.16‌

28‌

18

.58‌

867,718‌

0

.30‌

0

.30‌

0

.66‌

32‌

f

(

24

.84‌

)

757,262‌

0

.30‌

0

.30‌

0

.58‌

34‌

42

.77‌

1,085,055‌

0

.30‌

0

.30‌

0

.48‌

31‌

28

.84‌

855,735‌

0

.30‌

0

.30‌

0

.74‌

33‌

f

16

.75‌

688,063‌

0

.30‌

0

.30‌

1

.05‌

28‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

206

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

4.3

LARGE-CAP

VALUE

INDEX

FUND

Institutional

Class:

10/31/23

$

22

.29‌

$

0

.52‌

$

(

0

.48‌

)

$

0

.04‌

$

(

0

.50‌

)

$

(

0

.49‌

)

$

(

0

.99‌

)

$

21

.34‌

10/31/22

24

.89‌

0

.48‌

(

2

.16‌

)

(

1

.68‌

)

(

0

.45‌

)

(

0

.47‌

)

(

0

.92‌

)

22

.29‌

10/31/21

17

.72‌

0

.44‌

7

.19‌

7

.63‌

(

0

.46‌

)

—‌

(

0

.46‌

)

24

.89‌

10/31/20

20

.54‌

0

.46‌

(

1

.85‌

)

(

1

.39‌

)

(

0

.57‌

)

(

0

.86‌

)

(

1

.43‌

)

17

.72‌

10/31/19

19

.30‌

0

.57‌

1

.47‌

2

.04‌

(

0

.49‌

)

(

0

.31‌

)

(

0

.80‌

)

20

.54‌

Advisor

Class:

10/31/23

22

.24‌

0

.47‌

(

0

.45‌

)

0

.02‌

(

0

.42‌

)

(

0

.49‌

)

(

0

.91‌

)

21

.35‌

10/31/22

24

.82‌

0

.44‌

(

2

.14‌

)

(

1

.70‌

)

(

0

.41‌

)

(

0

.47‌

)

(

0

.88‌

)

22

.24‌

10/31/21

17

.67‌

0

.36‌

7

.22‌

7

.58‌

(

0

.43‌

)

—‌

(

0

.43‌

)

24

.82‌

10/31/20

20

.49‌

0

.48‌

(

1

.90‌

)

(

1

.42‌

)

(

0

.54‌

)

(

0

.86‌

)

(

1

.40‌

)

17

.67‌

10/31/19

19

.26‌

0

.55‌

1

.46‌

2

.01‌

(

0

.47‌

)

(

0

.31‌

)

(

0

.78‌

)

20

.49‌

Retirement

Class:

10/31/23

22

.68‌

0

.48‌

(

0

.48‌

)

—‌

(

0

.45‌

)

(

0

.49‌

)

(

0

.94‌

)

21

.74‌

10/31/22

25

.32‌

0

.43‌

(

2

.20‌

)

(

1

.77‌

)

(

0

.40‌

)

(

0

.47‌

)

(

0

.87‌

)

22

.68‌

10/31/21

18

.03‌

0

.39‌

7

.32‌

7

.71‌

(

0

.42‌

)

—‌

(

0

.42‌

)

25

.32‌

10/31/20

20

.87‌

0

.42‌

(

1

.88‌

)

(

1

.46‌

)

(

0

.52‌

)

(

0

.86‌

)

(

1

.38‌

)

18

.03‌

10/31/19

19

.59‌

0

.53‌

1

.50‌

2

.03‌

(

0

.44‌

)

(

0

.31‌

)

(

0

.75‌

)

20

.87‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

207

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

0

.09‌

%

$

6,571,229‌

0

.05‌

%

0

.05‌

%

2

.34‌

%

26‌

%

f

(

6

.99‌

)

6,667,880‌

0

.05‌

0

.05‌

2

.08‌

21‌

43

.69‌

7,684,426‌

0

.05‌

0

.05‌

1

.93‌

29‌

(

7

.51‌

)

5,586,461‌

0

.05‌

0

.05‌

2

.52‌

33‌

f

11

.13‌

5,973,386‌

0

.05‌

0

.05‌

2

.97‌

38‌

(

0

.04‌

)

101,091‌

0

.18‌

0

.18‌

2

.15‌

26‌

f

(

7

.11‌

)

17,967‌

0

.19‌

0

.19‌

1

.92‌

21‌

43

.47‌

16,207‌

0

.19‌

0

.19‌

1

.60‌

29‌

(

7

.63‌

)

9,094‌

0

.19‌

0

.19‌

2

.54‌

33‌

f

11

.00‌

31,051‌

0

.19‌

0

.19‌

2

.85‌

38‌

(

0

.13‌

)

1,311,133‌

0

.30‌

0

.30‌

2

.09‌

26‌

f

(

7

.25‌

)

1,233,751‌

0

.30‌

0

.30‌

1

.83‌

21‌

43

.28‌

1,279,443‌

0

.30‌

0

.30‌

1

.67‌

29‌

(

7

.71‌

)

821,535‌

0

.30‌

0

.30‌

2

.29‌

33‌

f

10

.85‌

877,423‌

0

.30‌

0

.30‌

2

.71‌

38‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

208

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

4.4

S&P

500

INDEX

FUND

Institutional

Class:

10/31/23

$

42

.87‌

$

0

.76‌

$

3

.50‌

$

4

.26‌

$

(

0

.69‌

)

$

(

0

.11‌

)

$

(

0

.80‌

)

$

46

.33‌

10/31/22

51

.11‌

0

.69‌

(

8

.00‌

)

(

7

.31‌

)

(

0

.64‌

)

(

0

.29‌

)

(

0

.93‌

)

42

.87‌

10/31/21

36

.35‌

0

.62‌

14

.77‌

15

.39‌

(

0

.63‌

)

—‌

(

0

.63‌

)

51

.11‌

10/31/20

33

.88‌

0

.62‌

2

.61‌

3

.23‌

(

0

.66‌

)

(

0

.10‌

)

(

0

.76‌

)

36

.35‌

10/31/19

30

.48‌

0

.68‌

3

.53‌

4

.21‌

(

0

.59‌

)

(

0

.22‌

)

(

0

.81‌

)

33

.88‌

Advisor

Class:

10/31/23

42

.76‌

0

.69‌

3

.51‌

4

.20‌

(

0

.64‌

)

(

0

.11‌

)

(

0

.75‌

)

46

.21‌

10/31/22

50

.99‌

0

.63‌

(

8

.00‌

)

(

7

.37‌

)

(

0

.57‌

)

(

0

.29‌

)

(

0

.86‌

)

42

.76‌

10/31/21

36

.27‌

0

.56‌

14

.74‌

15

.30‌

(

0

.58‌

)

—‌

(

0

.58‌

)

50

.99‌

10/31/20

33

.82‌

0

.57‌

2

.61‌

3

.18‌

(

0

.63‌

)

(

0

.10‌

)

(

0

.73‌

)

36

.27‌

10/31/19

30

.43‌

0

.64‌

3

.52‌

4

.16‌

(

0

.55‌

)

(

0

.22‌

)

(

0

.77‌

)

33

.82‌

Retirement

Class:

10/31/23

42

.49‌

0

.64‌

3

.47‌

4

.11‌

(

0

.58‌

)

(

0

.11‌

)

(

0

.69‌

)

45

.91‌

10/31/22

50

.67‌

0

.57‌

(

7

.94‌

)

(

7

.37‌

)

(

0

.52‌

)

(

0

.29‌

)

(

0

.81‌

)

42

.49‌

10/31/21

36

.06‌

0

.51‌

14

.64‌

15

.15‌

(

0

.54‌

)

—‌

(

0

.54‌

)

50

.67‌

10/31/20

33

.62‌

0

.53‌

2

.60‌

3

.13‌

(

0

.59‌

)

(

0

.10‌

)

(

0

.69‌

)

36

.06‌

10/31/19

30

.24‌

0

.60‌

3

.51‌

4

.11‌

(

0

.51‌

)

(

0

.22‌

)

(

0

.73‌

)

33

.62‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

209

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

10

.09‌

%

$

5,617,665‌

0

.05‌

%

0

.05‌

%

1

.65‌

%

2‌

%

f

(

14

.62‌

)

4,933,068‌

0

.05‌

0

.05‌

1

.47‌

5‌

42

.82‌

6,310,496‌

0

.05‌

0

.05‌

1

.38‌

7‌

f

9

.67‌

4,426,743‌

0

.05‌

0

.05‌

1

.78‌

7‌

14

.27‌

4,038,596‌

0

.05‌

0

.05‌

2

.17‌

5‌

9

.95‌

134,151‌

0

.18‌

0

.18‌

1

.52‌

2‌

f

(

14

.74‌

)

114,843‌

0

.18‌

0

.18‌

1

.35‌

5‌

42

.63‌

134,424‌

0

.18‌

0

.18‌

1

.25‌

7‌

f

9

.51‌

103,558‌

0

.18‌

0

.18‌

1

.65‌

7‌

14

.12‌

88,735‌

0

.19‌

0

.19‌

2

.05‌

5‌

9

.80‌

2,091,065‌

0

.30‌

0

.30‌

1

.40‌

2‌

f

(

14

.83‌

)

1,784,834‌

0

.30‌

0

.30‌

1

.23‌

5‌

42

.43‌

2,107,555‌

0

.30‌

0

.30‌

1

.13‌

7‌

f

9

.41‌

1,510,268‌

0

.30‌

0

.30‌

1

.53‌

7‌

14

.01‌

1,366,911‌

0

.30‌

0

.30‌

1

.92‌

5‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

210

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

4.5

SMALL-CAP

BLEND

INDEX

FUND

Institutional

Class:

10/31/23

$

21

.34‌

$

0

.39‌

$

(

2

.17‌

)

$

(

1

.78‌

)

$

(

0

.32‌

)

$

(

0

.07‌

)

$

(

0

.39‌

)

$

19

.17‌

10/31/22

28

.54‌

0

.32‌

(

5

.22‌

)

(

4

.90‌

)

(

0

.32‌

)

(

1

.98‌

)

(

2

.30‌

)

21

.34‌

10/31/21

19

.45‌

0

.27‌

9

.47‌

9

.74‌

(

0

.26‌

)

(

0

.39‌

)

(

0

.65‌

)

28

.54‌

10/31/20

20

.46‌

0

.22‌

(

0

.15‌

)

0

.07‌

(

0

.29‌

)

(

0

.79‌

)

(

1

.08‌

)

19

.45‌

10/31/19

21

.18‌

0

.31‌

0

.59‌

0

.90‌

(

0

.28‌

)

(

1

.34‌

)

(

1

.62‌

)

20

.46‌

Advisor

Class:

10/31/23

21

.29‌

0

.36‌

(

2

.16‌

)

(

1

.80‌

)

(

0

.29‌

)

(

0

.07‌

)

(

0

.36‌

)

19

.13‌

10/31/22

28

.48‌

0

.28‌

(

5

.20‌

)

(

4

.92‌

)

(

0

.29‌

)

(

1

.98‌

)

(

2

.27‌

)

21

.29‌

10/31/21

19

.41‌

0

.23‌

9

.46‌

9

.69‌

(

0

.23‌

)

(

0

.39‌

)

(

0

.62‌

)

28

.48‌

10/31/20

20

.43‌

0

.19‌

(

0

.16‌

)

0

.03‌

(

0

.26‌

)

(

0

.79‌

)

(

1

.05‌

)

19

.41‌

10/31/19

21

.15‌

0

.30‌

0

.57‌

0

.87‌

(

0

.25‌

)

(

1

.34‌

)

(

1

.59‌

)

20

.43‌

Retirement

Class:

10/31/23

21

.41‌

0

.34‌

(

2

.17‌

)

(

1

.83‌

)

(

0

.26‌

)

(

0

.07‌

)

(

0

.33‌

)

19

.25‌

10/31/22

28

.62‌

0

.26‌

(

5

.24‌

)

(

4

.98‌

)

(

0

.25‌

)

(

1

.98‌

)

(

2

.23‌

)

21

.41‌

10/31/21

19

.51‌

0

.20‌

9

.51‌

9

.71‌

(

0

.21‌

)

(

0

.39‌

)

(

0

.60‌

)

28

.62‌

10/31/20

20

.52‌

0

.17‌

(

0

.15‌

)

0

.02‌

(

0

.24‌

)

(

0

.79‌

)

(

1

.03‌

)

19

.51‌

10/31/19

21

.23‌

0

.26‌

0

.60‌

0

.86‌

(

0

.23‌

)

(

1

.34‌

)

(

1

.57‌

)

20

.52‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

211

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

(

8

.43‌

)

%

$

2,204,534‌

0

.05‌

%

0

.05‌

%

1

.86‌

%

16‌

%

(

18

.42‌

)

2,548,376‌

0

.06‌

0

.06‌

1

.38‌

25‌

50

.75‌

3,552,723‌

0

.05‌

0

.05‌

1

.00‌

33‌

0

.08‌

2,308,446‌

0

.06‌

0

.06‌

1

.16‌

32‌

f

4

.98‌

2,308,296‌

0

.06‌

0

.06‌

1

.58‌

32‌

(

8

.56‌

)

11,803‌

0

.71‌

0

.20‌

1

.71‌

16‌

(

18

.53‌

)

12,338‌

0

.67‌

0

.21‌

1

.22‌

25‌

50

.57‌

13,774‌

0

.76‌

0

.20‌

0

.85‌

33‌

(

0

.11‌

)

8,823‌

1

.08‌

0

.20‌

1

.01‌

32‌

f

4

.83‌

7,980‌

0

.84‌

0

.21‌

1

.52‌

32‌

(

8

.62‌

)

570,342‌

0

.30‌

0

.30‌

1

.62‌

16‌

(

18

.63‌

)

742,366‌

0

.31‌

0

.31‌

1

.12‌

25‌

50

.39‌

1,095,078‌

0

.30‌

0

.30‌

0

.75‌

33‌

(

0

.16‌

)

791,714‌

0

.30‌

0

.30‌

0

.92‌

32‌

f

4

.72‌

791,066‌

0

.31‌

0

.31‌

1

.33‌

32‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

212

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

4.6

EMERGING

MARKETS

EQUITY

INDEX

FUND

Institutional

Class:

10/31/23

$

8

.91‌

$

0

.27‌

$

0

.68‌

$

0

.95‌

$

(

0

.25‌

)

$

—‌

$

(

0

.25‌

)

$

9

.61‌

10/31/22

13

.20‌

0

.32‌

(

4

.32‌

)

(

4

.00‌

)

(

0

.29‌

)

—‌

(

0

.29‌

)

8

.91‌

10/31/21

11

.64‌

0

.27‌

1

.56‌

1

.83‌

(

0

.27‌

)

—‌

(

0

.27‌

)

13

.20‌

10/31/20

11

.05‌

0

.23‌

0

.68‌

0

.91‌

(

0

.32‌

)

—‌

(

0

.32‌

)

11

.64‌

10/31/19

10

.14‌

0

.30‌

0

.85‌

1

.15‌

(

0

.24‌

)

—‌

(

0

.24‌

)

11

.05‌

Advisor

Class:

10/31/23

8

.93‌

0

.24‌

0

.69‌

0

.93‌

(

0

.22‌

)

—‌

(

0

.22‌

)

9

.64‌

10/31/22

13

.23‌

0

.33‌

(

4

.36‌

)

(

4

.03‌

)

(

0

.27‌

)

—‌

(

0

.27‌

)

8

.93‌

10/31/21

11

.65‌

0

.24‌

1

.57‌

1

.81‌

(

0

.23‌

)

—‌

(

0

.23‌

)

13

.23‌

10/31/20

11

.06‌

0

.18‌

0

.71‌

0

.89‌

(

0

.30‌

)

—‌

(

0

.30‌

)

11

.65‌

10/31/19

10

.13‌

0

.35‌

0

.80‌

1

.15‌

(

0

.22‌

)

—‌

(

0

.22‌

)

11

.06‌

Premier

Class:

10/31/23

8

.88‌

0

.25‌

0

.68‌

0

.93‌

(

0

.23‌

)

—‌

(

0

.23‌

)

9

.58‌

10/31/22

13

.15‌

0

.31‌

(

4

.32‌

)

(

4

.01‌

)

(

0

.26‌

)

—‌

(

0

.26‌

)

8

.88‌

10/31/21

11

.60‌

0

.25‌

1

.55‌

1

.80‌

(

0

.25‌

)

—‌

(

0

.25‌

)

13

.15‌

10/31/20

11

.02‌

0

.21‌

0

.67‌

0

.88‌

(

0

.30‌

)

—‌

(

0

.30‌

)

11

.60‌

10/31/19

10

.10‌

0

.32‌

0

.82‌

1

.14‌

(

0

.22‌

)

—‌

(

0

.22‌

)

11

.02‌

Retirement

Class:

10/31/23

8

.86‌

0

.24‌

0

.67‌

0

.91‌

(

0

.22‌

)

—‌

(

0

.22‌

)

9

.55‌

10/31/22

13

.12‌

0

.29‌

(

4

.30‌

)

(

4

.01‌

)

(

0

.25‌

)

—‌

(

0

.25‌

)

8

.86‌

10/31/21

11

.57‌

0

.24‌

1

.55‌

1

.79‌

(

0

.24‌

)

—‌

(

0

.24‌

)

13

.12‌

10/31/20

11

.00‌

0

.20‌

0

.67‌

0

.87‌

(

0

.30‌

)

—‌

(

0

.30‌

)

11

.57‌

10/31/19

10

.08‌

0

.32‌

0

.81‌

1

.13‌

(

0

.21‌

)

—‌

(

0

.21‌

)

11

.00‌

Retail

Class:

10/31/23

8

.87‌

0

.23‌

0

.68‌

0

.91‌

(

0

.21‌

)

—‌

(

0

.21‌

)

9

.57‌

10/31/22

13

.13‌

0

.28‌

(

4

.30‌

)

(

4

.02‌

)

(

0

.24‌

)

—‌

(

0

.24‌

)

8

.87‌

10/31/21

11

.59‌

0

.22‌

1

.55‌

1

.77‌

(

0

.23‌

)

—‌

(

0

.23‌

)

13

.13‌

10/31/20

11

.00‌

0

.19‌

0

.68‌

0

.87‌

(

0

.28‌

)

—‌

(

0

.28‌

)

11

.59‌

10/31/19

10

.09‌

0

.29‌

0

.82‌

1

.11‌

(

0

.20‌

)

—‌

(

0

.20‌

)

11

.00‌

Class

W:

10/31/23

8

.94‌

0

.29‌

0

.67‌

0

.96‌

(

0

.26‌

)

—‌

(

0

.26‌

)

9

.64‌

10/31/22

13

.23‌

0

.34‌

(

4

.33‌

)

(

3

.99‌

)

(

0

.30‌

)

—‌

(

0

.30‌

)

8

.94‌

10/31/21

11

.66‌

0

.29‌

1

.57‌

1

.86‌

(

0

.29‌

)

—‌

(

0

.29‌

)

13

.23‌

10/31/20

11

.07‌

0

.26‌

0

.67‌

0

.93‌

(

0

.34‌

)

—‌

(

0

.34‌

)

11

.66‌

10/31/19

10

.14‌

0

.37‌

0

.81‌

1

.18‌

(

0

.25‌

)

—‌

(

0

.25‌

)

11

.07‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

213

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

10

.52‌

%

$

1,053,054‌

0

.16‌

%

0

.16‌

%

2

.63‌

%

14‌

%

(

30

.98‌

)

1,010,505‌

0

.19‌

0

.19‌

2

.91‌

7‌

15

.77‌

1,165,241‌

0

.18‌

0

.18‌

1

.96‌

33‌

f

8

.43‌

921,818‌

0

.20‌

0

.20‌

2

.13‌

36‌

11

.60‌

824,509‌

0

.20‌

0

.20‌

2

.80‌

53‌

10

.32‌

4,602‌

0

.29‌

0

.29‌

2

.37‌

14‌

(

31

.08‌

)

6,895‌

0

.33‌

0

.33‌

3

.01‌

7‌

15

.61‌

4,300‌

0

.32‌

0

.32‌

1

.77‌

33‌

f

8

.28‌

2,449‌

0

.34‌

0

.34‌

1

.62‌

36‌

11

.52‌

12,105‌

0

.34‌

0

.34‌

3

.34‌

53‌

10

.39‌

8,771‌

0

.31‌

0

.31‌

2

.43‌

14‌

(

31

.06‌

)

22,113‌

0

.34‌

0

.34‌

2

.74‌

7‌

15

.58‌

28,510‌

0

.33‌

0

.33‌

1

.80‌

33‌

f

8

.21‌

25,218‌

0

.35‌

0

.35‌

1

.90‌

36‌

11

.52‌

26,772‌

0

.35‌

0

.35‌

3

.00‌

53‌

10

.19‌

562,249‌

0

.41‌

0

.41‌

2

.41‌

14‌

(

31

.12‌

)

438,986‌

0

.44‌

0

.44‌

2

.64‌

7‌

15

.55‌

556,244‌

0

.43‌

0

.43‌

1

.74‌

33‌

f

8

.06‌

428,964‌

0

.45‌

0

.45‌

1

.89‌

36‌

11

.43‌

325,179‌

0

.45‌

0

.45‌

2

.97‌

53‌

10

.20‌

16,665‌

0

.49‌

0

.49‌

2

.31‌

14‌

(

31

.19‌

)

16,002‌

0

.53‌

0

.50‌

2

.51‌

7‌

15

.32‌

23,317‌

0

.56‌

0

.56‌

1

.65‌

33‌

f

8

.07‌

15,221‌

0

.57‌

0

.57‌

1

.73‌

36‌

11

.16‌

14,225‌

0

.57‌

0

.57‌

2

.74‌

53‌

10

.69‌

3,571,788‌

0

.16‌

0.00‌

2

.82‌

14‌

(

30

.81‌

)

3,053,793‌

0

.19‌

0.00‌

3

.07‌

7‌

16

.00‌

3,377,750‌

0

.18‌

0.00‌

2

.17‌

33‌

f

8

.60‌

2,131,058‌

0

.20‌

0

.01‌

2

.37‌

36‌

11

.86‌

1,399,712‌

0

.20‌

0.00‌

3

.50‌

53‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

214

Financial

Highlights

(continued)

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

4.7

INTERNATIONAL

EQUITY

INDEX

FUND

Institutional

Class:

10/31/23

$

17

.60‌

$

0

.64‌

$

2

.05‌

$

2

.69‌

$

(

0

.54‌

)

$

—‌

$

(

0

.54‌

)

$

19

.75‌

10/31/22

23

.56‌

0

.64‌

(

5

.91‌

)

(

5

.27‌

)

(

0

.69‌

)

—‌

(

0

.69‌

)

17

.60‌

10/31/21

17

.93‌

0

.61‌

5

.44‌

6

.05‌

(

0

.42‌

)

—‌

(

0

.42‌

)

23

.56‌

10/31/20

19

.77‌

0

.45‌

(

1

.67‌

)

(

1

.22‌

)

(

0

.62‌

)

—‌

(

0

.62‌

)

17

.93‌

10/31/19

18

.37‌

0

.61‌

1

.37‌

1

.98‌

(

0

.58‌

)

—‌

(

0

.58‌

)

19

.77‌

Advisor

Class:

10/31/23

17

.56‌

0

.72‌

1

.95‌

2

.67‌

(

0

.52‌

)

—‌

(

0

.52‌

)

19

.71‌

10/31/22

23

.51‌

0

.61‌

(

5

.89‌

)

(

5

.28‌

)

(

0

.67‌

)

—‌

(

0

.67‌

)

17

.56‌

10/31/21

17

.90‌

0

.59‌

5

.42‌

6

.01‌

(

0

.40‌

)

—‌

(

0

.40‌

)

23

.51‌

10/31/20

19

.75‌

0

.43‌

(

1

.68‌

)

(

1

.25‌

)

(

0

.60‌

)

—‌

(

0

.60‌

)

17

.90‌

10/31/19

18

.34‌

0

.58‌

1

.38‌

1

.96‌

(

0

.55‌

)

—‌

(

0

.55‌

)

19

.75‌

Premier

Class:

10/31/23

17

.55‌

0

.61‌

2

.05‌

2

.66‌

(

0

.51‌

)

—‌

(

0

.51‌

)

19

.70‌

10/31/22

23

.48‌

0

.59‌

(

5

.87‌

)

(

5

.28‌

)

(

0

.65‌

)

—‌

(

0

.65‌

)

17

.55‌

10/31/21

17

.87‌

0

.58‌

5

.42‌

6

.00‌

(

0

.39‌

)

—‌

(

0

.39‌

)

23

.48‌

10/31/20

19

.71‌

0

.42‌

(

1

.67‌

)

(

1

.25‌

)

(

0

.59‌

)

—‌

(

0

.59‌

)

17

.87‌

10/31/19

18

.31‌

0

.59‌

1

.36‌

1

.95‌

(

0

.55‌

)

—‌

(

0

.55‌

)

19

.71‌

Retirement

Class:

10/31/23

18

.00‌

0

.60‌

2

.11‌

2

.71‌

(

0

.49‌

)

—‌

(

0

.49‌

)

20

.22‌

10/31/22

24

.08‌

0

.60‌

(

6

.05‌

)

(

5

.45‌

)

(

0

.63‌

)

—‌

(

0

.63‌

)

18

.00‌

10/31/21

18

.32‌

0

.57‌

5

.56‌

6

.13‌

(

0

.37‌

)

—‌

(

0

.37‌

)

24

.08‌

10/31/20

20

.20‌

0

.41‌

(

1

.72‌

)

(

1

.31‌

)

(

0

.57‌

)

—‌

(

0

.57‌

)

18

.32‌

10/31/19

18

.74‌

0

.59‌

1

.40‌

1

.99‌

(

0

.53‌

)

—‌

(

0

.53‌

)

20

.20‌

Class

W:

10/31/23

17

.61‌

0

.65‌

2

.06‌

2

.71‌

(

0

.55‌

)

—‌

(

0

.55‌

)

19

.77‌

10/31/22

23

.57‌

0

.65‌

(

5

.91‌

)

(

5

.26‌

)

(

0

.70‌

)

—‌

(

0

.70‌

)

17

.61‌

10/31/21

17

.94‌

0

.63‌

5

.43‌

6

.06‌

(

0

.43‌

)

—‌

(

0

.43‌

)

23

.57‌

10/31/20

19

.78‌

0

.46‌

(

1

.68‌

)

(

1

.22‌

)

(

0

.62‌

)

—‌

(

0

.62‌

)

17

.94‌

10/31/19

18

.37‌

0

.63‌

1

.36‌

1

.99‌

(

0

.58‌

)

—‌

(

0

.58‌

)

19

.78‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

f

Does

not

include

in-kind

transactions.

See

Notes

to

Financial

Statements

215

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

15

.34‌

%

$

10,116,149‌

0

.05‌

%

0

.05‌

%

3

.11‌

%

8‌

%

f

(

23

.00‌

)

8,366,604‌

0

.05‌

0

.05‌

3

.14‌

5‌

34

.05‌

9,784,831‌

0

.05‌

0

.05‌

2

.72‌

5‌

f

(

6

.45‌

)

7,675,874‌

0

.05‌

0

.05‌

2

.46‌

4‌

11

.23‌

7,842,042‌

0

.06‌

0

.06‌

3

.28‌

10‌

15

.24‌

474,257‌

0

.19‌

0

.19‌

3

.45‌

8‌

f

(

23

.10‌

)

135,488‌

0

.17‌

0

.17‌

3

.03‌

5‌

33

.86‌

156,717‌

0

.17‌

0

.17‌

2

.65‌

5‌

f

(

6

.58‌

)

111,950‌

0

.17‌

0

.17‌

2

.32‌

4‌

11

.15‌

118,307‌

0

.19‌

0

.19‌

3

.15‌

10‌

15

.21‌

133,705‌

0

.20‌

0

.20‌

3

.00‌

8‌

f

(

23

.10‌

)

138,009‌

0

.20‌

0

.20‌

2

.91‌

5‌

33

.87‌

235,696‌

0

.20‌

0

.20‌

2

.60‌

5‌

f

(

6

.61‌

)

201,339‌

0

.20‌

0

.20‌

2

.26‌

4‌

11

.06‌

240,884‌

0

.21‌

0

.21‌

3

.18‌

10‌

15

.09‌

1,199,275‌

0

.30‌

0

.30‌

2

.86‌

8‌

f

(

23

.20‌

)

1,025,583‌

0

.30‌

0

.30‌

2

.86‌

5‌

33

.74‌

1,409,903‌

0

.30‌

0

.30‌

2

.50‌

5‌

f

(

6

.73‌

)

1,140,317‌

0

.30‌

0

.30‌

2

.20‌

4‌

11

.01‌

1,175,682‌

0

.31‌

0

.31‌

3

.09‌

10‌

15

.45‌

8,094,126‌

0

.05‌

0.00‌

3

.15‌

8‌

f

(

22

.96‌

)

7,066,985‌

0

.05‌

0.00‌

3

.21‌

5‌

34

.09‌

7,359,293‌

0

.05‌

0.00‌

2

.80‌

5‌

f

(

6

.40‌

)

4,288,389‌

0

.05‌

0.00‌

2

.53‌

4‌

11

.30‌

3,612,733‌

0

.06‌

0.00‌

3

.42‌

10‌

216

Notes

to

Financial

Statements

1.

Organization

TIAA-CREF

Funds

(the

“Trust”)

is

a

Delaware

statutory

trust

that

is

registered

with

the

U.S. Securities

and

Exchange

Commission

(“SEC”)

under

the

Investment

Company

Act

of

1940,

as

amended

(“1940

Act”),

as

an

open-end

management

investment

company.

The

following

are

the

TIAA-CREF

Funds

included

in

this

report:

Equity

Index

Fund,

Large-Cap

Growth

Index

Fund,

Large-Cap

Value

Index

Fund,

S&P

500

Index

Fund,

Small-Cap

Blend

Index

Fund,

Emerging

Markets

Equity

Index

Fund,

and

the

International

Equity

Index

Fund

(collectively

the

“Funds”

or

individually,

the

“Fund”).

Teachers

Advisors,

LLC

(the

“Adviser”),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Funds.

The

Funds

offer

their

shares,

without

a

sales

load,

through

their

principal

underwriter,

Nuveen

Securities,

LLC

(“Nuveen

Securities”),

which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Funds

offer

up

to

six

share

classes,

although

any

one

Fund

may

not

necessarily

offer

all

six

classes.

The

Funds

may

offer

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W

shares.

Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Dormancy

of

Class

W:

Effective

after

the

close

of

business

on

July

25,

2023

for

Large-Cap

Growth

Index

Fund

and

Large-Cap

Value

Index

Fund

and

on

August

9,

2023

for

S&P

500

Index

Fund,

Class

W

for

each

Fund

became

dormant

and

is

therefore

not

currently

operational.

Current

Fiscal

Period:

 The

end

of

the

reporting

period

for

the Funds

is

October

31,

2023,

and

the

period

covered

by

these

Notes

to

Financial

Statements

is

the

fiscal

year

ended

October

31,

2023

(the

"current

fiscal

period").

2.

Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“U.S.

GAAP”),

which

may

require

the

use

of

estimates

made

by

management

and

the

evaluation

of

subsequent

events.

Actual

results

may

differ

from

those

estimates.

The Funds

are

investment

companies

and

follow

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

. The net

asset

value (“NAV”)

for

financial

reporting

purposes

may

differ

from

the NAV

for

processing

transactions.

The NAV

for

financial

reporting

purposes

includes

security

and shareholder

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the NAV

used

for

processing

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds.

Investments

and

Investment

Income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

Dividend

income

is

recorded

on

the

ex-dividend

date.

Foreign

dividend

income

is

recorded

on

the

ex-dividend

date

or

as

soon

as

possible

after

the Funds

determine

the

existence

of

a

dividend

declaration.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned on

cash

collateral

investments. Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Distributions

received

on

securities

that

represent

a

return

of

capital

or

capital

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The

Funds estimate

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

Operations

and

Allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation

of

a

Fund

are

allocated

on

a

pro

rata

basis

to

each

class

of

shares,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses, which

are

unique

to

each

class

of

shares.

Most

expenses

of

the

Trust

can

be

directly

attributed

to

a

Fund.

Expenses

that

cannot

be

directly

attributed

are

allocated

to

each

Fund

in

the

Trust

based

upon

the

average

net

assets

of

each

Fund.

Distributions

to

Shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

Currency

Transactions

and

Translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

“Net

realized

gain

(loss)”

on

the

Statement

of

Operations,

when

applicable. 

217

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

as

a

component

of

“Net

change

in

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative’s

related “Net

change

in

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable. 

Foreign

Taxes:

The Funds

may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the Funds

invest.

Compensation:

The

Funds pay

the

members

of

the

Board

of

Trustees

(“Board”),

all

of

whom

are

independent,

certain

remuneration

for

their

services,

plus

travel

and

other

expenses.

Trustees

may

elect

to

participate

in

a

deferred

compensation

plan

and

defer

all

or

a

portion

of

their

compensation.

In

addition,

trustees

participate

in

a

long-term

compensation

plan.

Amounts

deferred

are

retained

by

the

Funds

until

paid.

Amounts

payable

to

the

trustees

for

compensation

are

included

separately

in the

accompanying

Statement

of

Assets

and

Liabilities.

Trustees’

fees,

including

any

deferred

and

long-term

compensation

incurred,

are

reflected

in

the

Statement

of

Operations.

Indemnification:

 Under

the

Trust's

organizational

documents,

its

officers

and

trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

New

Accounting

Pronouncement:

In

March

2020,

FASB

issued

Accounting

Standards

Update

(“ASU”)

2020-04,

Reference

Rate

Reform:

Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting.

The

main

objective

of

the

new

guidance

is

to

provide

relief

to

companies

that

will

be

impacted

by

the

expected

change

in

benchmark

interest

rates,

when

participating

banks

will

no

longer

be

required

to

submit

London

Interbank

Offered

Rate

(LIBOR)

quotes

by

the

UK

Financial

Conduct

Authority

(FCA).

The

new

guidance

allows

companies to,

provided

the

only

changes

to

existing

contracts

are

a

change

to

an

approved

benchmark

interest

rate,

account

for

modifications

as

a

continuance

of

the

existing

contract

without

additional

analysis.

For

new

and

existing

contracts,

the

Fund may

elect

to

apply

the

amendments

as

of

March

12,

2020

through

December

31,

2022.

In

December

2022,

FASB

deferred

ASU

2022-04

and

issued

ASU

2022-06,

Reference

Rate

Reform:

Deferral

of

the

Sunset

Date

of

Topic

848,

which

extends

the

application

of

the

amendments

through

December

31,

2024.

Management

has

not

yet

elected

to

apply

the

amendments,

is

continuously

evaluating

the

potential

effect

a

discontinuation

of

LIBOR

could

have

on

the

Funds' investments

and

has

currently

determined

that

it

is

unlikely

the

ASU’s

adoption

will

have

a

significant

impact

on

the Funds' financial

statements

and

various

filings.

New

Accounting

Pronouncement:

 In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

(“Topic

820”).

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1)

clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2)

amends

a

related

illustrative

example,

and

(3)

introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820.

For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

During

the

current

fiscal

period,

the Funds adopted

the

new

guidance

and

there

was

no

material

impact

to

the

Funds.

3.

Investment

Valuation

and

Fair

Value

Measurements

The Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Notes

to

Financial

Statements

(continued)

218

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Prices

of

fixed-income

securities

are

provided

by

pricing

services

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security’s

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2.

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

For

events

affecting

the

value

of

foreign

securities

between

the

time

when

the

exchange

on

which

they

are

traded

closes

and

the

time

when

the Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1.

When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. 

Investments

in

investment

companies

are

valued

at

their

respective NAVs

or

share

price

on

the

valuation

date

and

are

generally

classified

as Level

1.

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2.

Futures

contracts

are

valued

using

the

closing

settlement

price

or,

in

the

absence

of

such

a

price,

the

last

traded

price and

are

generally

classified

as

Level

1.

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. 

The

following

table

summarizes

the

market

value

of

the Funds’

investments

as

of

the

end

of

the

current

fiscal

period, based

on

the

inputs

used

to

value

them:

Fund

Level

1

Level

2

Level

3

Total

Equity

Index

Long-Term

Investments

:

Common

stocks

$35,956,872,673

$—

$206,849

$35,957,079,522

Rights/Warrants

—

—

553

553

Short-Term

Investments

:

Government

agency

debt

—

63,647,780

—

63,647,780

Repurchase

agreement

—

54,035,000

—

54,035,000

Treasury

debt

—

43,903,660

—

43,903,660

Investments

purchased

with

collateral

from

securities

lending

116,018,795

—

—

116,018,795

Investments

in

Derivatives

:

Futures

contracts*

(3,368,436)

—

—

(3,368,436)

Total

$36,069,523,032

$161,586,440

$207,402

$36,231,316,874

1

1

1

1

1

219

Fund

Level

1

Level

2

Level

3

Total

Large-Cap

Growth

Index

Long-Term

Investments

:

Common

stocks

$10,526,336,121

$—

$—

$10,526,336,121

Short-Term

Investments

:

Repurchase

agreement

—

266,000

—

266,000

Investments

purchased

with

collateral

from

securities

lending

3,027,850

—

—

3,027,850

Total

$10,529,363,971

$266,000

$—

$10,529,629,971

1

1

1

1

1

Large-Cap

Value

Index

Long-Term

Investments

:

Common

stocks

$7,974,746,533

$—

$51,454

$7,974,797,987

Short-Term

Investments

:

Repurchase

agreement

—

4,421,000

—

4,421,000

Investments

purchased

with

collateral

from

securities

lending

16,648,028

—

—

16,648,028

Total

$7,991,394,561

$4,421,000

$51,454

$7,995,867,015

1

1

1

1

1

S&P

500

Index

Long-Term

Investments

:

Common

stocks

$7,785,950,260

$—

$—

$7,785,950,260

Short-Term

Investments

:

Government

agency

debt

—

14,877,612

—

14,877,612

Repurchase

agreement

—

25,843,000

—

25,843,000

Treasury

debt

—

16,478,786

—

16,478,786

Investments

purchased

with

collateral

from

securities

lending

333

—

—

333

Investments

in

Derivatives

:

Futures

contracts*

(1,606,705)

—

—

(1,606,705)

Total

$7,784,343,888

$57,199,398

$—

$7,841,543,286

1

1

1

1

1

Small-Cap

Blend

Index

Long-Term

Investments

:

Common

stocks

$2,769,780,844

$—

$192,026

$2,769,972,870

Rights/Warrants

—

164

764

928

Short-Term

Investments

:

Government

agency

debt

—

6,225,961

—

6,225,961

Repurchase

agreement

—

6,906,000

—

6,906,000

Treasury

debt

—

1,119,014

—

1,119,014

Investments

purchased

with

collateral

from

securities

lending

99,758,456

—

—

99,758,456

Investments

in

Derivatives

:

Futures

contracts*

(862,578)

—

—

(862,578)

Total

$2,868,676,722

$14,251,139

$192,790

$2,883,120,651

1

1

1

1

1

Emerging

Markets

Equity

Index

Long-Term

Investments

:

Corporate

bonds

$—

$19,510

$—

$19,510

Common

stocks

555,538,058

4,580,254,007

15,275

5,135,807,340

Rights/Warrants

—

16,928

—

16,928

Short-Term

Investments

:

Government

agency

debt

—

14,877,612

—

14,877,612

Repurchase

agreement

—

53,369,000

—

53,369,000

Treasury

debt

—

15,856,285

—

15,856,285

Investments

purchased

with

collateral

from

securities

lending

3,384,225

—

—

3,384,225

Investments

in

Derivatives

:

Futures

contracts*

(2,624,975)

—

—

(2,624,975)

Total

$556,297,308

$4,664,393,342

$15,275

$5,220,705,925

1

1

1

1

1

International

Equity

Index

Long-Term

Investments

:

Common

stocks

$174,698,609

$19,527,464,258

$—**

$19,702,162,867

Short-Term

Investments

:

Government

agency

debt

—

34,203,574

—

34,203,574

Repurchase

agreement

—

41,224,000

—

41,224,000

Treasury

debt

—

112,539,425

—

112,539,425

Investments

purchased

with

collateral

from

securities

lending

91,111,657

—

—

91,111,657

Investments

in

Derivatives

:

Futures

contracts*

(4,129,474)

—

—

(4,129,474)

Total

$261,680,792

$19,715,431,257

$—

$19,977,112,049

1

1

1

1

1

*

Represents

net

unrealized

appreciation

(depreciation).

**

Value

equals

zero

as

of

the

end

of

the

reporting

period.

Notes

to

Financial

Statements

(continued)

220

4.

Investments

Repurchase

Agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund’s policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

Securities

Lending:

Certain Funds

may

lend

their

securities

to

qualified

institutional

borrowers

to

earn

additional

income.

A

Fund receives

collateral

(in

the

form

of

cash,

Treasury

securities

or

other

collateral

permitted

by

applicable

law)

against

the

loaned

securities

and

maintains

collateral

in

an

amount

not

less

than

100%

of

the

market

value

of

loaned

securities

during

the

period

of

the

loan;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the Fund

the

next

business

day.

Cash

collateral

received

by the

Fund will

generally

be

invested

in

high-quality

short-term

instruments

or

in

one

or

more

funds

maintained

by

the

securities

lending

agent

(“Agent”)

for

the

purpose

of

investing

cash

collateral.

The

value

of

the

loaned

securities

and

the

liability

to

return

the

cash

collateral

received

are

reflected

in

the

Statement

of

Assets

and

Liabilities.

Non-cash

collateral

is

not

disclosed

in

the

Funds’

Statement

of

Assets

and

Liabilities

as

it

is

held

by

the Agent

or

by

a

third-party

bank

engaged

by

the

Agent

as

a

special

"tri-party" custodian on

behalf

of

the Funds,

and

the

Funds

do

not

have

the

ability

to

sell

or

re-hypothecate

those

securities.

As

of

the

end

of

the

current

fiscal

period,

securities

lending

transactions are

for equity

securities,

and

the

resulting

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

Securities

lending

income

recognized

by

the

Funds consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

reflected

separately

in

the

Statement

of

Operations.

In

lending

its

securities,

a

Fund bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned. 

As

of

the

end

of

the

current

fiscal

period,

the

total

value

of

securities

on

loan

and

the

total

value

of

collateral

received

were

as

follows:

Purchases

and

Sales:

 Long-term

purchases

and

sales

during

the

current

fiscal

period were

as

follows:

The Funds

may

purchase

securities

on

a

when-issued

or

delayed-delivery

basis.

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

If

the

Funds have

when-issued/delayed-delivery

purchases

commitments

as

of

the

end

of

the

reporting

period,

such

amounts

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

5.

Derivative

Investments

Each Fund is

authorized

to

invest

in

certain

derivative

instruments.

As

defined

by

U.S.

GAAP,

a

derivative is

a

financial

instrument

whose

value

is

derived

from

an

underlying

security

price,

foreign

exchange

rate,

interest

rate,

index

of

prices

or

rates,

or

other

variables.

Investments

in

derivatives

as

of

the

end

of

and/or

during

the

current

fiscal

period,

if

any,

are

included

within

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations,

respectively.

Aggregate

Value

of

Securities

on

Loan

Fund

Equity

Securities

Cash

Collateral

Received*

Non-Cash

Collateral

Received

Total

Collateral

Received

Equity

Index

$175,203,491

$116,018,795

$63,760,983

$179,779,778

Large-Cap

Growth

Index

12,505,245

3,027,850

9,704,316

12,732,166

Large-Cap

Value

Index

27,218,903

16,648,028

10,915,850

27,563,878

S&P

500

Index

1,681,564

333

1,711,408

1,711,741

Small-Cap

Blend

Index

137,328,174

99,758,456

41,830,056

141,588,512

Emerging

Markets

Equity

Index

51,331,174

3,384,225

51,090,815

54,475,040

International

Equity

Index

181,865,092

91,111,657

103,764,060

194,875,717

*May

include

cash

and

investment

of

cash

collateral.

Fund

Non-U.S.

Government

Purchases

Non-U.S.

Government

Sales

4.1

Equity

Index

$

3,826,477,000

$

1,595,336,877

4.2

Large-Cap

Growth

Index

3,289,004,496

3,131,455,046

4.3

Large-Cap

Value

Index

2,387,582,385

2,125,564,906

4.4

S&P

500

Index

664,868,779

179,671,468

4.5

Small-Cap

Blend

Index

496,495,657

698,541,628

4.6

Emerging

Markets

Equity

Index

1,060,447,809

712,675,696

4.7

International

Equity

Index

3,586,558,231

1,611,471,507

221

Futures

Contracts:

 Certain

Funds

are

subject

to

equity

price

and

interest

rate

risk

in

the

normal

course

of

pursuing

their

investment

objectives.

The Funds

use

futures

contracts

to

manage

exposure

to

the

equity

and

bond

markets and

for

cash

management

purposes

to

remain

highly

invested

in

these

markets

while

minimizing

transaction

costs.

A

futures

contract

is

an

agreement

between

two

parties

to

buy

and

sell

a

financial

instrument

for

a

set

price

on

a

future

date.

Upon

execution

of

a

futures

contract,

the

Fund

is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

“initial

margin,”

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

Investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statement

of

Assets

and

Liabilities.

During

the

period

the

futures

contract

is

open,

changes

in

the

market

value

of

the

contract

are

recognized

as

an

unrealized

gain

or

loss

by

“marking-to-market”

on

a

daily

basis.

The

Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

contracts.

These

daily

cash

settlements

are

known

as

“variation

margin”

which are

recognized

on

the

Statement

of

Assets

and

Liabilities

as

a

receivable

or

payable

for

variation

margin

on

futures

contracts.

When

the

contract

is

closed

or

expired,

the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

contract

on

the

closing

date

and

value

of

the

contract

when

originally

entered

into.

The

net

realized

gain

or

loss

and

the

change

in

unrealized

appreciation

(depreciation)

on

futures

contracts

held

during

the

period

is

included

on

the

Statement

of

Operations.

Risks

of

investments

in

futures

contracts

include

the

possible

adverse

movement

in

the

price

of

the

securities

or

indices

underlying

the

contracts,

the

possibility

that

there

may

not

be

a

liquid

secondary

market

for

the

contracts

and/or

that

a

change

in

the

value

of the

contract

may

not

correlate

with

a

change

in

the

value

of

the

underlying

securities

or

indices.

The

average

notional

amount

of

futures

contracts

outstanding

during

the

current

fiscal

period

was

as

follows:

At

the

end

of

the

reporting

period,

the

following Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statement

of

Assets

and

Liabilities

as

follows:

*

Value

represents

the

cumulative

unrealized

appreciation

(depreciation)

of

cleared

derivative

contracts

as

reported

in

the

Fund's

Portfolio

of

investments.

The

Statements

of

assets

and

liabilities

only

reflects

the

current

day

variation

margin

receivable/payable

from/to

brokers

on

open

cleared

derivative

contracts.

Fund

Average

Notional

Amount

of

Futures

Contracts

Outstanding*

4.1

Equity

Index

$

110,926,297

4.4

S&P

500

Index

52,324,133

4.5

Small-Cap

Blend

Index

18,844,818

4.6

Emerging

Markets

Equity

Index

56,072,187

4.7

International

Equity

Index

201,789,323

*

The

average

notional

amount

is

calculated

based

on

the

absolute

aggregate

notional

amount

of

contracts

outstanding

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

Equity

Index

Fund

Futures

contracts

Equity

-

$

–

Unrealized

depreciation

on

futures

contracts

*

$

(3,368,436)

1

1

1

1

1

1

1

1

S&P

500

Index

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

*

(1,606,705)

1

1

1

1

1

1

1

1

Small-Cap

Blend

Index

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

*

(862,578)

1

1

1

1

1

1

1

1

Emerging

Markets

Equity

Index

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

*

(2,624,975)

1

1

1

1

1

1

1

1

International

Equity

Index

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

*

(4,129,474)

1

1

1

1

1

1

1

1

Notes

to

Financial

Statements

(continued)

222

During

the

current

fiscal

period,

the

effect

of

derivative

contracts

on

the Funds'

Statement

of

Operations

was

as

follows

:

6.

Fund

Shares

Transactions

in

Fund

shares

during

the

current

and

prior

fiscal

period

were

as

follows:

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

4.1

Equity

Index

Fund

Futures

contracts

Equity

$

5,727,662

$

(5,545,140)

4.4

S&P

500

Index

Fund

Futures

contracts

Equity

6,695,162

(3,425,721)

4.5

Small-Cap

Blend

Index

Fund

Futures

contracts

Equity

(3,145,524)

(2,064,010)

4.6

Emerging

Markets

Equity

Index

Fund

Futures

contracts

Equity

13,400,612

(756,919)

4.7

International

Equity

Index

Fund

Futures

contracts

Equity

14,184,054

(8,653,775)

Year

Ended

10/31/23

Year

Ended

10/31/22

4.1

Equity

Index

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

27,050,218

$

786,403,961

78,129,383

$

2,369,122,759

Advisor

Class

69,582

2,070,283

533,419

18,170,974

Premier

Class

98,615

2,900,360

442,800

13,275,587

Retirement

Class

1,041,342

31,158,173

1,086,900

33,859,185

Retail

Class

1,568,974

47,264,597

2,281,184

71,726,041

Class

W

131,716,149

3,849,793,158

158,535,172

4,679,531,286

Total

subscriptions

161,544,880

4,719,590,532

241,008,858

7,185,685,832

Reinvestments

of

distributions:

Institutional

Class

7,418,805

206,094,392

7,600,524

256,669,697

Advisor

Class

6,504

180,817

17,667

596,977

Premier

Class

31,521

873,771

40,785

1,374,868

Retirement

Class

341,369

9,640,250

442,422

15,183,932

Retail

Class

616,108

17,460,491

740,415

25,499,871

Class

W

12,820,715

356,159,463

12,840,407

433,748,939

Total

reinvestments

of

distributions

21,235,022

590,409,184

21,682,220

733,074,284

Redemptions:

Institutional

Class

(35,947,452)

(1,079,048,351)

(30,359,541)

(937,348,147)

Advisor

Class

(78,984)

(2,324,548)

(558,269)

(17,168,844)

Premier

Class

(729,116)

(22,090,736)

(611,608)

(19,355,035)

Retirement

Class

(2,934,320)

(88,474,194)

(2,743,318)

(85,890,255)

Retail

Class

(3,306,858)

(99,366,225)

(2,694,857)

(83,137,400)

Class

W

(98,308,984)

(2,875,450,442)

(81,550,180)

(2,516,908,903)

Total

redemptions

(141,305,714)

(4,166,754,496)

(118,517,773)

(3,659,808,584)

Net

increase

(decrease)

from

shareholder

transactions

41,474,188

$

1,143,245,220

144,173,305

$

4,258,951,532

223

Year

Ended

10/31/23

Year

Ended

10/31/22

4.2

Large-Cap

Growth

Index

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

56,509,354

$

2,459,537,357

52,747,383

$

2,534,157,660

Advisor

Class

2,826,075

128,340,375

1,332,736

61,988,048

Retirement

Class

2,104,998

94,007,203

1,333,997

64,959,102

Class

W

†

949,170

39,648,682

315,540

13,646,095

Total

subscriptions

62,389,597

2,721,533,617

55,729,656

2,674,750,905

Reinvestments

of

distributions:

Institutional

Class

16,557,648

639,456,361

11,641,762

672,078,897

Advisor

Class

149,498

5,766,150

116,722

6,730,167

Retirement

Class

1,787,823

69,725,079

1,481,451

86,250,105

Class

W

†

80,404

2,957,273

66,234

3,658,788

Total

reinvestments

of

distributions

18,575,373

717,904,863

13,306,169

768,717,957

Redemptions:

Institutional

Class

(54,296,589)

(2,348,642,311)

(41,256,398)

(2,084,977,276)

Advisor

Class

(1,225,066)

(54,257,078)

(795,218)

(39,705,640)

Retirement

Class

(2,749,408)

(119,733,676)

(2,693,723)

(133,892,622)

Class

W

†

(1,754,568)

(81,160,933)

(26,176,096)

(1,628,646,730)

Total

redemptions

(60,025,631)

(2,603,793,998)

(70,921,435)

(3,887,222,268)

Net

increase

(decrease)

from

shareholder

transactions

20,939,339

$

835,644,482

(1,885,610)

$

(443,753,406)

Year

Ended

10/31/23

Year

Ended

10/31/22

4.3

Large-Cap

Value

Index

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

47,053,076

$

1,046,961,952

37,370,949

$

869,322,559

Advisor

Class

5,292,976

119,787,669

1,164,664

27,593,235

Retirement

Class

7,926,938

181,476,826

5,896,557

143,528,174

Class

W

†

1,302,866

28,534,188

494,486

11,154,788

Total

subscriptions

61,575,856

1,376,760,635

44,926,656

1,051,598,756

Reinvestments

of

distributions:

Institutional

Class

11,166,064

244,090,149

9,773,885

234,573,225

Advisor

Class

11,388

249,403

23,192

555,912

Retirement

Class

2,264,200

50,536,935

1,827,380

44,734,272

Class

W

†

76,227

1,666,335

57,448

1,378,187

Total

reinvestments

of

distributions

13,517,879

296,542,822

11,681,905

281,241,596

Redemptions:

Institutional

Class

(49,531,289)

(1,106,698,156)

(56,704,292)

(1,323,182,983)

Advisor

Class

(1,377,594)

(31,190,242)

(1,032,920)

(23,938,694)

Retirement

Class

(4,282,098)

(97,082,823)

(3,864,630)

(91,073,631)

Class

W

†

(3,043,633)

(71,337,604)

(389,081)

(9,051,285)

Total

redemptions

(58,234,614)

(1,306,308,825)

(61,990,923)

(1,447,246,593)

Net

increase

(decrease)

from

shareholder

transactions

16,859,121

$

366,994,632

(5,382,362)

$

(114,406,241)

Year

Ended

10/31/23

Year

Ended

10/31/22

4.4

S&P

500

Index

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

18,558,790

$

861,925,002

16,699,412

$

778,599,313

Advisor

Class

921,494

41,706,967

864,558

40,655,923

Retirement

Class

5,935,905

265,744,699

4,408,706

202,019,442

Class

W

†

464,091

21,378,022

139,607

6,234,176

Total

subscriptions

25,880,280

1,190,754,690

22,112,283

1,027,508,854

Reinvestments

of

distributions:

Institutional

Class

2,076,962

89,039,362

2,129,649

109,613,033

Advisor

Class

49,294

2,110,260

43,546

2,238,268

Retirement

Class

691,321

29,436,459

653,035

33,383,169

Class

W

†

9,363

401,305

8,407

432,615

Total

reinvestments

of

distributions

2,826,940

120,987,386

2,834,637

145,667,085

Redemptions:

Institutional

Class

(14,451,937)

(655,982,055)

(27,227,637)

(1,307,082,778)

Advisor

Class

(753,389)

(34,018,091)

(858,802)

(39,942,377)

Retirement

Class

(3,090,629)

(141,616,609)

(4,646,288)

(216,344,001)

Class

W

†

(963,524)

(47,192,364)

(126,836)

(5,933,607)

Total

redemptions

(19,259,479)

(878,809,119)

(32,859,563)

(1,569,302,763)

Net

increase

(decrease)

from

shareholder

transactions

9,447,741

$

432,932,957

(7,912,643)

$

(396,126,824)

Notes

to

Financial

Statements

(continued)

224

Year

Ended

10/31/23

Year

Ended

10/31/22

4.5

Small-Cap

Blend

Index

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

20,821,357

$

435,108,879

21,043,441

$

468,367,024

Advisor

Class

396,337

8,068,960

320,919

8,093,401

Retirement

Class

530,814

11,245,021

583,237

13,580,601

Total

subscriptions

21,748,508

454,422,860

21,947,597

490,041,026

Reinvestments

of

distributions:

Institutional

Class

2,275,172

46,459,018

11,012,341

277,841,379

Advisor

Class

10,150

207,051

53,564

1,349,807

Retirement

Class

553,180

11,362,316

3,316,091

84,129,222

Total

reinvestments

of

distributions

2,838,502

58,028,385

14,381,996

363,320,408

Redemptions:

Institutional

Class

(27,530,409)

(573,884,495)

(37,126,947)

(821,110,549)

Advisor

Class

(369,000)

(7,604,517)

(278,545)

(6,166,229)

Retirement

Class

(6,121,095)

(128,892,935)

(7,495,204)

(170,474,163)

Total

redemptions

(34,020,504)

(710,381,947)

(44,900,696)

(997,750,941)

Net

increase

(decrease)

from

shareholder

transactions

(9,433,494)

$

(197,930,702)

(8,571,103)

$

(144,389,507)

Year

Ended

10/31/23

Year

Ended

10/31/22

4.6

Emerging

Markets

Equity

Index

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

20,019,055

$

201,501,010

34,158,831

$

380,688,945

Advisor

Class

411,373

4,048,335

1,111,777

12,033,740

Premier

Class

634,956

6,438,073

692,614

7,523,771

Retirement

Class

9,360,039

94,911,186

7,019,234

78,690,153

Retail

Class

779,548

7,768,455

846,910

9,776,419

Class

W

102,290,633

1,036,810,486

110,291,585

1,221,105,988

Total

subscriptions

133,495,604

1,351,477,545

154,120,951

1,709,819,016

Reinvestments

of

distributions:

Institutional

Class

2,848,705

28,430,078

2,005,694

25,512,424

Advisor

Class

7,619

76,341

8,768

111,880

Premier

Class

60,066

598,262

45,061

571,821

Retirement

Class

1,123,689

11,169,469

860,612

10,903,950

Retail

Class

36,073

359,283

32,869

417,108

Class

W

8,800,102

87,913,014

6,525,345

83,067,648

Total

reinvestments

of

distributions

12,876,254

128,546,447

9,478,349

120,584,831

Redemptions:

Institutional

Class

(26,696,602)

(271,300,141)

(11,075,026)

(122,934,038)

Advisor

Class

(713,851)

(7,083,797)

(673,308)

(7,307,306)

Premier

Class

(2,268,650)

(23,377,118)

(415,930)

(4,543,040)

Retirement

Class

(1,179,090)

(11,975,577)

(723,921)

(8,233,923)

Retail

Class

(877,582)

(8,724,431)

(851,890)

(9,957,974)

Class

W

(82,128,907)

(839,109,367)

(30,465,134)

(349,589,735)

Total

redemptions

(113,864,682)

(1,161,570,431)

(44,205,209)

(502,566,016)

Net

increase

(decrease)

from

shareholder

transactions

32,507,176

$

318,453,561

119,394,091

$

1,327,837,831

Year

Ended

10/31/23

Year

Ended

10/31/22

4.7

International

Equity

Index

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

92,299,031

$

1,891,665,032

78,011,912

$

1,551,243,650

Advisor

Class

38,442,215

793,182,991

1,848,016

36,955,617

Premier

Class

1,153,506

23,586,456

1,538,185

31,009,788

Retirement

Class

5,561,168

117,437,715

3,714,077

75,744,533

Class

W

82,384,764

1,696,391,015

104,484,644

2,071,159,886

Total

subscriptions

219,840,684

4,522,263,209

189,596,834

3,766,113,474

Reinvestments

of

distributions:

Institutional

Class

12,786,594

247,036,988

12,443,445

280,101,957

Advisor

Class

199,278

3,846,056

199,207

4,480,152

Premier

Class

206,074

3,975,163

234,099

5,262,544

Retirement

Class

1,385,953

27,469,586

1,598,549

36,894,510

Class

W

10,909,282

210,876,436

10,180,885

229,171,714

Total

reinvestments

of

distributions

25,487,181

493,204,229

24,656,185

555,910,877

Redemptions:

Institutional

Class

(68,354,531)

(1,389,973,306)

(30,408,791)

(631,430,288)

Advisor

Class

(22,294,040)

(461,248,728)

(998,584)

(19,992,859)

Premier

Class

(2,434,988)

(50,397,464)

(3,944,841)

(88,620,537)

Retirement

Class

(4,603,802)

(96,124,907)

(6,896,911)

(149,421,168)

Class

W

(85,089,489)

(1,742,619,463)

(25,605,321)

(528,645,411)

Total

redemptions

(182,776,850)

(3,740,363,868)

(67,854,448)

(1,418,110,263)

Net

increase

(decrease)

from

shareholder

transactions

62,551,015

$

1,275,103,570

146,398,571

$

2,903,914,088

225

7.

Income

Tax

Information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund’s

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund’s

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund’s

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

distribution

reallocations,

foreign

currency

transactions,

foreign

taxes

paid,

investments

in

partnerships,

investments

in

passive

foreign

investment

companies,

redemptions

in-kind,

return

of

capital

and

long-term

capital

gain

distributions

received

from

portfolio

investments,

and

tax

equalization.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund’s

net

assets.

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable. 

As

of year

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

The

tax

character

of

distributions

paid was

as

follows:

†

For

the

year

ended

October

31,

2023,

represents

the

period

November

1,

2022

through

July

25,

2023

(date

of

dormancy)

for

Large

Cap

Growth

Index

Fund

and

Large

Cap

Value

Index

Fund,

and

the

period

November

1,

2022

through

August

9,

2023

(date

of

dormancy)

for

S&P

500

Index

Fund.  

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

4.1

Equity

Index

$21,161,917,251

$16,856,761,920

$(1,787,362,297)

$15,069,399,623

4.2

Large-Cap

Growth

Index

4,928,831,374

5,844,102,014

(243,303,417)

5,600,798,597

4.3

Large-Cap

Value

Index

6,657,409,982

2,016,500,783

(678,043,750)

1,338,457,033

4.4

S&P

500

Index

3,830,279,903

4,298,664,922

(287,401,539)

4,011,263,383

4.5

Small-Cap

Blend

Index

2,622,391,423

917,772,757

(657,043,529)

260,729,228

4.6

Emerging

Markets

Equity

Index

5,278,859,909

838,971,355

(897,125,339)

(58,153,984)

4.7

International

Equity

Index

18,826,016,753

3,418,520,387

(2,267,425,091)

1,151,095,296

Fund

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital

Gains

Unrealized

Appreciation

(Depreciation)

Capital

Loss

Carryforwards

Late-Year

Loss

Deferrals

Other

Book-to-Tax

Differences

Total

4.1

Equity

Index

$472,550,170

$–

$15,069,399,622

$(116,627,570)

$–

$(594,062)

$15,424,728,160

4.2

Large-Cap

Growth

Index

72,158,470

132,489,662

5,600,798,597

–

–

(174,179)

5,805,272,550

4.3

Large-Cap

Value

Index

283,312,330

89,452,258

1,338,457,033

–

–

(171,402)

1,711,050,219

4.4

S&P

500

Index

97,431,804

–

4,011,263,382

(18,512,144)

–

(156,657)

4,090,026,385

4.5

Small-Cap

Blend

Index

42,622,436

44,515,114

260,729,228

–

–

(70,191)

347,796,587

4.6

Emerging

Markets

Equity

Index

165,840,362

–

(82,566,559)

(765,255,421)

–

(80,389)

(682,062,007)

4.7

International

Equity

Index

638,474,611

–

1,149,079,627

(906,924,932)

–

(355,371)

880,273,935

10/31/23

10/31/22

Fund

Ordinary

Income

Long-Term

Capital

Gains

Ordinary

Income

Long-Term

Capital

Gains

4.1

Equity

Index

$

513,587,586

$

79,492,662

$

539,694,530

$

196,389,865

4.2

Large-Cap

Growth

Index

82,592,025

770,902,564

472,020,962

446,939,500

4.3

Large-Cap

Value

Index

220,004,513

126,047,038

314,938,457

17,152,381

4.4

S&P

500

Index

106,013,789

16,973,710

116,004,674

33,515,398

4.5

Small-Cap

Blend

Index

47,191,624

11,943,985

108,305,564

261,768,341

4.6

Emerging

Markets

Equity

Index

128,592,109

–

120,649,410

–

4.7

International

Equity

Index

500,477,383

–

566,098,699

–

Notes

to

Financial

Statements

(continued)

226

As

of

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

In

certain

circumstances,

a

fund

may

distribute

portfolio

securities

rather

than

cash

as

payment

for

a

redemption

of

fund

shares

(in-

kind

redemption). For

federal

income

tax

purposes,

the

gain

is

not

taxable

and

therefore

will

not

be

distributed

to

shareholders.

The

gain

was

reclassified

from

total

distributable

earnings

(loss)

to

paid-in-capital

in

the

Statement

of

Assets

and

Liabilities.

As

of

the

end

of

the

reporting

period,

the

Funds

received

the

following

amounts

from

net

capital

gains

and

in-kind

redemptions

transactions:

8.

Investment

Adviser

and

Other

Transactions

with

Affiliates

Under

the

terms

of

the

Investment

Management

Agreement

with

respect

to

each

Fund, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Funds

have

entered

into

an

Administrative

Service

Agreement

with

the

Adviser

under

which

the

Funds

pay the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Funds.

Under

the

terms

of

a

Retirement

Class

Service

Agreement

with

respect

to

each

Fund,

the

Retirement

Class

of

the

Fund

incurs

an

annual

fee

of

0.25%

of

the

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain

administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statement

of

Operations

are

paid

to

the

Adviser

under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

each

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Retail

Class.

The

Premier

Class

of

each

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Premier

Class.

The

Adviser has

contractually

agreed

to

waive

and/or

reimburse

Class

W’s

shares’

Management

fees

and

Other

expenses

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses,

trustee

expenses

and

extraordinary

expenses)

in

their

entirety.

The

Adviser

expects

this

waiver

and/or

reimbursement

to

remain

in

effect

indefinitely,

unless

changed

or

terminated

with

approval

of

the

Board.

The

Management

fees

and

Other

expenses

of

Class

W

shares

that

have

been

waived

by the

Adviser may

be

incurred

directly

or

indirectly,

all

or

in

part,

by

investors

in

Class

W

shares.

The

Adviser

has

agreed

to

reimburse

each

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

the

end

of

the

reporting

period,

the

investment

management

fee,

service

agreement

fee,

distribution

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Fund

Short-Term

Long-Term

Total

4.1

Equity

Index

$

6,558,847

$

110,068,723

$

116,627,570

4.2

Large-Cap

Growth

Index

–

–

–

4.3

Large-Cap

Value

Index

–

–

–

4.4

S&P

500

Index

1,102,599

17,409,545

18,512,144

4.5

Small-Cap

Blend

Index

–

–

–

4.6

Emerging

Markets

Equity

Index

204,152,881

561,102,540

765,255,421

4.7

International

Equity

Index

251,782,774

655,142,158

906,924,932

Fund

Net

Capital

Gains

In-Kind

Redemptions

4.1

Equity

Index

$

858,703,350

$

1,140,507,905

4.2

Large-Cap

Growth

Index

60,783,192

74,477,796

4.3

Large-Cap

Value

Index

31,300,811

62,495,374

4.4

S&P

500

Index

31,913,303

42,608,210

4.7

International

Equity

Index

297,212,475

577,743,566

Investment

Management

Fee-

Effective

Rate

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

4.1

Equity

Index

0.040

%

0.090

%

0.240

%

0.240

%

0.340

%

0.440

%

0.090

%

4.2

Large-Cap

Growth

Index

0.040

0.090

0.240

–

0.340

–

–

4.3

Large-Cap

Value

Index

0.040

0.090

0.240

–

0.340

–

–

4.4

S&P

500

Index

0.040

0.090

0.240

–

0.340

–

–

4.5

Small-Cap

Blend

Index

0.040

0.090

0.240

–

0.340

–

–

4.6

Emerging

Markets

Equity

Index

0.100

0.210

0.360

0.360

0.460

0.560

0.210

4.7

International

Equity

Index

0.040

0.150

0.300

0.300

0.400

–

0.150

227

Prior

to

March

1,

2023,

the

investment

management

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

for

Equity

Index

and

Emerging

Markets

Equity

Index

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

The Funds may

purchase

or

sell

investment

securities

in

transactions

with

affiliated

entities

under

procedures

adopted

by

the

Board,

pursuant

to

the

1940

Act.

These

transactions

are

effected

at

market

rates

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

engaged

in

the

following

security

transactions

with

affiliated

entities: 

A

registered

separate

account

of

TIAA

(collectively

“TIAA

Access”)

has

various

sub-accounts

that

invest

in the

Funds,

and

certain funds

within

the

Trust

also

make

investments

in the

Funds.

The

following

is

the

percentage

of

the

Funds’

shares

owned

by

TIAA

Access

and

other

funds

within

the

Trust

as

of

the

end

of

the

reporting

period:

9.

Emerging

Markets

Risks

The

Emerging

Markets

Equity

Index

Fund

holds

a

large

portion

of

its

assets

in

emerging

market

securities.

Emerging

market

securities

are

often

subject

to

greater

price

volatility,

less

liquidity

and

higher

rates

of

inflation

and

deflation

than

U.S.

securities.

In

addition,

emerging

markets

may

be

subject

to

greater

political,

economic

and

social

uncertainty,

and

differing

regulatory

environments

that

may

potentially

impact

the

Fund’s

ability

to

buy

or

sell

certain

securities

or

repatriate

proceeds

to

U.S.

dollars.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

February

29,

2024.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

Management

Fee-Effective

Rate

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

4.1

Equity

Index

0.040

%

0.090

%

0.240

%

0.240

%

0.340

%

0.480

%

0.090

%

4.6

Emerging

Markets

Equity

Index

0.100

%

0.210

0.360

0.360

0.460

0.600

0.210

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Fund

Purchases

Sales

Realized

Gain

(Loss)

Equity

Index

$

228,185,373

$

11,075,478

$

(178,788)

Large-Cap

Growth

Index

218,224,680

38,296,708

2,006,781

Large-Cap

Value

Index

166,726,935

4,427,662

(4,347)

S&P

500

Index

108,975,708

8,674,927

(279,486)

Small-Cap

Blend

Index

7,048,581

2,996,289

(10,041)

Emerging

Markets

Equity

Index

20,534,821

6,941,907

(4,129,651)

International

Equity

Index

140,733,039

10,787,310

(6,230,720)

Underlying

Fund

TIAA-CREF

Lifecycle

Funds

TIAA-CREF

Lifecycle

Index

Funds

TIAA-CREF

Lifestyle

Funds

TIAA-CREF

Managed

Allocation

Fund

TIAA

Access

Total

4.1

Equity

Index

–

%

60

%

–

%

–

%

1

%

61

%

4.2

Large-Cap

Growth

Index

–

–

–

–

5

5

4.3

Large-Cap

Value

Index

–

–

–

–

8

8

4.4

S&P

500

Index

–

–

–

–

10

10

4.5

Small-Cap

Blend

Index

–

–

–

–

18

18

4.6

Emerging

Markets

Equity

Index

19

68

1

1

1

90

4.7

International

Equity

Index

17

40

1

1

5

64

Notes

to

Financial

Statements

(continued)

228

10.

Inter-Fund

Lending

Program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Funds may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Funds to

lend

cash

to

and/or

borrow

cash

from

certain

other

affiliated

Funds for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

no

Fund may

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

a

Fund may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund’s investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During the current

fiscal

period,

there

were

no

inter-fund

borrowing

or

lending

transactions. 

11.

Line

of

Credit

The

Funds

participate

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

13,

2023

expiring

on

June

11,

2024,

replacing

the

previous

facility,

which

expired

June

2023.

Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by

the

Adviser,

or

an

affiliate

of

the

Adviser,

also

participate

in

this

facility.

An

annual

commitment

fee

for

the

credit

facility

is

borne

by

the

participating

accounts

and

mutual

funds

on

a

pro

rata

basis.

Interest

associated

with

any

borrowing

under

the

facility

is

charged

to

the

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The

Funds

are

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

There

were

no

borrowings

under

this

credit

facility

by

the

Funds

during

the

current

fiscal

period.

229

Important

Tax

Information

(Unaudited)

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-Term

Capital

Gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

allowable

amount,

as

being

from net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code: 

Dividends

Received

Deduction

(DRD)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

eligible

for

the

dividends

received

deduction

for

corporate

shareholders:

Qualified

Dividend

Income

(QDI)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

dividend

income

for

individuals

pursuant

to

Section

1(h)(11)

of

the

Internal

Revenue

Code:

Qualified

interest

income

(QII)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

interest

income

and/or

short-term

capital

gain

dividends pursuant

to

Section

871(k)

of

the

Internal

Revenue

Code:

Fund

Net

Long-Term

Capital

Gains

4.1

Equity

Index

$

79,492,662

4.2

Large-Cap

Growth

Index

770,99

6

,

371

4.3

Large-Cap

Value

Index

138,326

,

576

4.4

S&P

500

Index

16,973,710

4.5

Small-Cap

Blend

Index

14,

244,624

4.6

Emerging

Markets

Equity

Index

–

4.7

International

Equity

Index

–

Fund

Percentage

4.1

Equity

Index

90.9

%

4.2

Large-Cap

Growth

Index

99.5

4.3

Large-Cap

Value

Index

75.1

4.4

S&P

500

Index

100.0

4.5

Small-Cap

Blend

Index

73.3

4.6

Emerging

Markets

Equity

Index

0.3

4.7

International

Equity

Index

—

Fund

Percentage

4.1

Equity

Index

93.2

%

4.2

Large-Cap

Growth

Index

100.0

4.3

Large-Cap

Value

Index

77.3

4.4

S&P

500

Index

100.0

4.5

Small-Cap

Blend

Index

74.6

4.6

Emerging

Markets

Equity

Index

46.9

4.7

International

Equity

Index

93.1

Fund

Prior

Year

End

to

12/31

Percentage

1/1

to

Current

Year

End

Percentage

4.1

Equity

Index

0.1

%

—

%

4.2

Large-Cap

Growth

Index

0.1

—

4.3

Large-Cap

Value

Index

—

—

4.4

S&P

500

Index

0.1

—

4.5

Small-Cap

Blend

Index

0.2

—

4.6

Emerging

Markets

Equity

Index

0.2

—

4.7

International

Equity

Index

0.1

—

Important

Tax

Information

(Unaudited)

(continued)

230

Foreign

Source

Income

and

Foreign

Tax

Credit

Pass

Through

Each

Fund

listed

below

has

made

an

election

under

Section

853

of

the

Internal

Revenue

Code

to

pass

through

foreign

taxes

paid: 

163(j)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

dividends

treated

as

Section

163(j)

interest

dividends

pursuant

to

Section

163(j)

of

the

Internal

Revenue

Code: 

Fund

Foreign

Source

Income

Foreign

Source

Income

Per

Share

Qualifying

Foreign

Taxes

Paid

Qualifying

Foreign

Taxes

Paid

per

Share

4.1

Equity

Index

$

—

$

—

$

—

$

—

4.2

Large-Cap

Growth

Index

—

—

—

—

4.3

Large-Cap

Value

Index

—

—

—

—

4.4

S&P

500

Index

—

—

—

—

4.5

Small-Cap

Blend

Index

—

—

—

—

4.6

Emerging

Markets

Equity

Index

158,372,784

0.29207

18,720,773

0.03452

4.7

International

Equity

Index

621,628,501

0.61440

39,094,557

0.03864

Fund

Percentage

4.1

Equity

Index

0.4

%

4.2

Large-Cap

Growth

Index

0.2

4.3

Large-Cap

Value

Index

–

4.4

S&P

500

Index

0.7

4.5

Small-Cap

Blend

Index

0.4

4.6

Emerging

Markets

Equity

Index

0.9

4.7

International

Equity

Index

0.6

Additional

Fund

Information

©2023

Teachers

Insurance

and

Annuity

Association

of

America—College

Retirement

Equities

Fund,

730

Third

Avenue,

New

York,

NY

10017-3206

231

Portfolio

holdings

The

TIAA-CREF

Funds

file

complete

portfolio

listings

with

the

Securities

and

Exchange

Commission

(SEC),

and

they

are

available

to

the

public.

You

can

obtain

a

complete

list

of

the

TIAA-CREF

Funds’

holdings

(Portfolios

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

websites

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

TIAA-CREF

Funds’

portfolio

holdings

as

of

the

most

recently

completed

fiscal

quarter,

and

for

prior

quarter-ends,

from

our

SEC

Form

N-CSR

and

Form

N-PORT

filings.

Form

N-CSR

filings

are

as

of

October

31

or

April

30;

Form

N-PORT

filings

are

as

of

January

31

or

July

31.

Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC’s

website

at

sec.gov;

or

From

the

SEC’s

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

TIAA-CREF

Funds’

ownership

of

stock

gives

it

the

right

to

vote

on

proxy

issues

of

companies

in

which

it

invests.

A

description

of

our

proxy

voting

policies

and

procedures

can

be

found

on

our

website

at

TIAA.org

or

on

the

SEC’s

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

to

request

a

free

copy.

A

report

of

how

the

funds

voted

during

the

most

recently

completed

twelve-month

period

ended

June

30

can

be

found

on

our

website

or

on

Form

N-PX

at

sec.gov.

Contacting

TIAA

There

are

three

easy

ways

to

contact

us:

by

email,

using

the

Contact

Us

link

at

the

top

of

our

home

page;

by

mail

at

TIAA,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

TIAA-CREF

Funds

are

managed

by

the

portfolio

management

teams

of

Teachers

Advisors,

LLC.

The

members

of

these

teams

are

responsible

for

the

day-to-day

investment

management

of

the

funds.

You

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

information,

please

visit

TIAA.org,

or

call

800-842-2252

for

the

Institutional,

Advisor,

Premier,

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

Please

read

the

prospectus

carefully

before

investing.

Investment,

insurance

and

annuity

products

are

not

Federal

Deposit

Insurance

Corporation

(FDIC)

insured,

are

not

bank

guaranteed,

are

not

bank

deposits,

are

not

insured

by

any

federal

government

agency,

are

not

a

condition

to

any

banking

service

or

activity,

and

may

lose

value.

Nuveen,

a

subsidiary

of

TIAA,

provides

investment

advice

and

portfolio

management

services

through

a

dozen

affiliated

registered

investment

advisers.

Nuveen

Securities,

LLC

and

TIAA-CREF

Individual

&

Institutional

Services,

LLC,

members

FINRA,

distribute

securities

products.

This

material

is

for

informational

or

educational

purposes

only

and

does

not

constitute

fiduciary

investment

advice

under

ERISA,

a

securities

recommendation

under

all

securities

laws,

or

an

insurance

product

recommendation

under

state

insurance

laws

or

regulations.

This

material

does

not

take

into

account

any

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor’s

own

objectives

and

circumstances.

October

31,

2023

Trustees

and

Officers

(Unaudited)

232

Trustees

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Forrest

Berkley

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2006.

Partner

(1990-2005)

and

Head

of

Global

Product

Management

(2003-2005),

GMO

(formerly,

Grantham,

Mayo,

Van

Otterloo

&

Co.)

(investment

management);

and

member

of

asset

allocation

portfolio

management

team,

GMO

(2003-2005).

88

Investment

Committee

Member,

Maine

Community

Foundation.

Joseph

A.

Boateng

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Trustee

Indefinite

term.

Trustee

since

2019.

Chief

Investment

Officer,

Casey

Family

Programs

(since

2007).

88

Board

member,

Lumina

Foundation

and

Waterside

School;

Emeritus

Board

Member,

Year-Up

Puget

Sound;

Investment

Advisory

Committee

Member,

Seattle

City

Employees’

Retirement

System;

Investment

Committee

Member,

The

Seattle

Foundation.

Joseph

A.

Carrier

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1960

Trustee

Indefinite

term.

Trustee

since

2023.

Senior

Vice

President,

Enterprise

Risk

Management,

Franklin

Resources,

Inc.

(2020-2022).

Senior

Managing

Director,

Chief

Risk

Officer

and

Chief

Audit

Executive,

Legg

Mason,

Inc.

(2008-2020).

88

Director,

Franklin

Templeton

Irish

Funds;

Board

Member,

Cal

Ripken,

Sr.

Foundation;

Advisory

Board

Member,

Loyola

University

Maryland,

Sellinger

School

of

Business

and

Management.

Janice

C.

Eberly

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2018.

Distinguished

Senior

Fellow,

MIT

Sloan

and

Golub

Center

for

Finance

and

Policy

(since

2023).  James

R.

and

Helen

D.

Russell

Professor

of

Finance

at

the

Kellogg

School

of

Management,

Northwestern

University

(2002-2011

and

since

2013),

Senior

Associate

Dean

for

Strategy

and

Academics

(2020-2023)

and

Chair

of

the

Finance

Department

(2005-2007).

Vice

President,

American

Economic

Association

(2020-2021).

Assistant

Secretary

for

Economic

Policy,

United

States

Department

of

the

Treasury

(2011-2013).

88

Member

of

the

Board

of

the

Office

of

Finance,

Federal

Home

Loan

Banks;

Director,

Avant,

LLC.

Nancy

A.

Eckl

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.  

Trustee

since

2007.

Vice

President

(1990–2006),

American

Beacon

Advisors,

Inc.

and

of

certain

funds

advised

by

American

Beacon

Advisors,

Inc.

88

Independent

Director

and

Audit

Committee

Chair,

The

Lazard

Funds,

Inc.,

Lazard

Retirement

Series,

Inc.

and

Lazard

Global

Total

Return

and

Income

Fund,

Inc.

Michael

A.

Forrester

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1967

Trustee

Indefinite

term.  

Trustee

since

2007.

Chief

Executive

Officer

(2014–2021)

and

Chief

Operating

Officer

(2007–2014),

Copper

Rock

Capital

Partners,

LLC.

88

Trustee,

Dexter

Southfield

School;

Member,

Governing

Council

of

the

Independent

Directors

Council.

Howell

E.

Jackson

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2005.

Special

Adviser,

White

House

Council

of

Economic

Advisers

(since

2023).

James

S.

Reid,

Jr.

Professor

of

Law

(since

2004),

Senior

Adviser

to

President

and

Provost

(2010–2012),

Acting

Dean

(2009),

Vice

Dean

for

Budget

(2003–2006)

and

on

the

faculty

(since

1989)

of

Harvard

Law

School.

88

Nicole

Thorne

Jenkins

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Trustee

Indefinite

term.

Trustee

since

2023.

John

A.

Griffin

Dean

of

the

McIntire

School

of

Commerce

at

the

University

of

Virginia

(since

2020).  Vice

Dean

(2016–2020),

Von

Allmen

Chaired

Professor

of

Accountancy

(2017–2020),

Associate

Professor

and

EY

Research

Fellow

(2012–2017),

Gatton

College

of

Business

and

Economics

at

the

University

of

Kentucky.

88

Trustee

and

Chair

of

the

Audit

&

Finance

Committee,

Strada

Education

Network;

Treasurer

and

Director,

The

Montpelier

Foundation.

Thomas

J.

Kenny

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Chairman

of

the

Board

and

Trustee

Indefinite

term.

Trustee

since

2011;

Chairman

for

term

ending

June

30,

2023.

Chairman

since

September

13,

2017.

Advisory

Director

(2010–2011),

Partner

(2004–2010),

Managing

Director

(1999–2004)

and

Co-Head

of

Global

Cash

and

Fixed

Income

Portfolio

Management

Team

(2002–2010),

Goldman

Sachs

Asset

Management.

88

Director

and

Chair

of

the

Finance

and

Investment

Committee,

Aflac

Incorporated;

Director,

ParentSquare.

233

Officers

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

James

M.

Poterba

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1958

Trustee

Indefinite

term.

Trustee

since

2006.

President

and

Chief

Executive

Officer

(since

2008)

and

Program

Director

(1990-2008),

National

Bureau

of

Economic

Research.

Mitsui

Professor

of

Economics,

Massachusetts

Institute

of

Technology

(“MIT”)

(since

1996);

Affiliated

Faculty

Member

of

the

Finance

Group,

Alfred

P.

Sloan

School

of

Management

(since

2014);

Head

(2006–2008)

and

Associate

Head

(1994–2000

and

2001–2006),

Economics

Department

of

MIT.

88

Director,

National

Bureau

of

Economic

Research;

Member,

Congressional

Budget

Office

Panel

of

Economic

Advisers.

Loren

M.

Starr

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1961

Trustee

Indefinite

term.

Trustee

since

2022.

Independent

Consultant/Advisor

(since

2021).

Vice

Chair,

Senior

Managing

Director

(2020–2021),

Chief

Financial

Officer,

Senior

Managing

Director

(2005–

2020),

Invesco

Ltd.

88

Director,

AMG.

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

Richard

S.

Biegen

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1962

Chief

Compliance

Officer

One-year

term.

Chief

Compliance

Officer

since

2008.

Senior

Managing

Director,

TIAA.

Chief

Compliance

Officer

of

the

College

Retirement

Equities

Fund

(“CREF”),

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

(collectively,

the

“TIAA-CREF

Fund

Complex”).

Claire

Borelli

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1960

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2023.

Senior

Executive

Vice

President,

Chief

People

Officer

of

TIAA

and

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Vice

President,

Chief

Diversity

&

Talent

Officer,

TIAA.

Prior

to

joining

TIAA,

Ms.

Borelli

served

as

Chief

Human

Resources

Officer

for

the

Consumer

Bank

and

Wealth

Management

sectors

of

JPMorgan

Chase

&

Co.

Derek

B.

Dorn

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1976

Senior

Managing

Director

and

Corporate

Secretary

One-year

term.

Senior

Managing

Director

and

Corporate

Secretary

since

2020.

Senior

Managing

Director

and

Corporate

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”)

and

the

TIAA-CREF

Fund

Complex.

Formerly,

Managing

Director,

Special

Assistant

to

the

CEO

and

Managing

Director,

Regulatory

Affairs,

TIAA.

Prior

to

joining

TIAA,

Mr.

Dorn

served

as

a

partner

at

Davis

&

Harman

LLP

and

an

adjunct

professor

of

Law

at

Georgetown

University

Law

Center.

John

L.

Douglas

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1950

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

One-year

term.

Executive

Vice

President

since

2021

and

Chief

Legal,

Risk

and

Compliance

Officer

since

2022.

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA.

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Senior

Advisor

to

the

CEO,

and

Senior

Executive

Vice

President,

Chief

Advocacy

&

Oversight

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Douglas

was

a

Partner

at

Davis

Polk

&

Wardwell

LLP.

W.

Dave

Dowrich

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1967

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022.

Senior

Executive

Vice

President

and

Chief

Financial

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Prior

to

joining

TIAA,

Mr.

Dowrich

served

as

Chief

Financial

Officer,

International

Businesses

at

Prudential

Financial,

Inc.

Bradley

Finkle

TIAA

730

Third

Avenue

New

York,

NY   10017-3206

YOB:

1973

Principal

Executive

Officer

and

President

One-year

term.

Principal

Executive

Officer

and

President

since

2017.

Executive

Vice

President,

Head

of

Complementary

Businesses

and

Chief

Administrative

Officer

of

the

Chief

Operating

Office,

TIAA.

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

Formerly,

Executive

Vice

President,

Chief

Operating

Officer,

Nuveen;

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

VA-1;

and

Senior

Managing

Director,

Co-Head

Nuveen

Equities

&

Fixed

Income

and

President

of

TIAA

Investments.

Jose

Minaya

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1971

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018.

Chief

Executive

Officer,

Nuveen.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Executive

Vice

President,

President

and

Chief

Investment

Officer,

Nuveen;

Executive

Vice

President,

Chief

Investment

Officer

and

President,

Nuveen

Global

Investments;

and

Senior

Managing

Director,

President,

Global

Investments,

TIAA.

Trustees

and

Officers

(Unaudited)

(continued)

October

31,

2023

234

Please

note

that

the

Funds’

Statement

of

Additional

Information

(SAI)

includes

additional

information

about

the

Funds’

trustees

and

is

available,

without

charge,

through

our

website,

tiaa.org,

or

by

calling

800

223-1200.

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

Colbert

Narcisse

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1965

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022.

Senior

Executive

Vice

President,

Chief

Product

and

Business

Development

Officer

of

TIAA.

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

VA-1.

Executive

Vice

President

of

TIAA-CREF

Funds

and

TIAA-

CREF

Life

Funds.

Formerly,

Executive

Vice

President

and

Head

of

Advisory

and

Corporate

Solutions,

TIAA.

Prior

to

joining

TIAA,

Mr.

Narcisse

served

as

Managing

Director

and

Head

of

International

Wealth

Management

and

Head

of

Traditional

and

Alternative

Investment

Products

at

Morgan

Stanley.

David

G.

Nason

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2020.

Senior

Executive

Vice

President,

Chief

Operating

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA,

Executive

Vice

President,

Chief

Risk

and

Compliance

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Nason

served

as

President

and

CEO

of

GE

Energy

Financial

Services.

E.

Scott

Wickerham

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1973

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

One-year

term.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

since

2017.

Senior

Managing

Director,

Head

of

Finance

for

Equities

and

Fixed

Income,

Nuveen.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

of

the

TIAA-CREF

Fund

Complex;

and

Vice

President

and

Controller

of

the

Nuveen

Funds.

Formerly,

Senior

Managing

Director,

Head,

Public

Investment

Finance,

Nuveen,

and

Managing

Director,

Head,

TC

Fund

Administration,

Nuveen.

Additional

Information

About

Index

Providers

235

Russell

Indexes

Source:

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

“LSE

Group”).

©

LSE

Group

2023.

FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

“FTSE®,”

“Russell®”

and

“FTSE

Russell®”

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company’s

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

Standard

&

Poor's

Index

The

S&P

500®

Index

is

a

product

 of

S&P

Dow

Jones

Indices

LLC,

a

division

of

S&P

Global,

or

its

affiliates

(“SPDJI”),

and has

been

licensed

for

use

by

the

S&P

500

Index

Fund.

Standard

&

Poor’s®

and

S&P®

are

registered

trademarks

of

Standard

&

Poor’s

Financial

Services

LLC,

a

division

of

S&P

Global

(“S&P”);

Dow

Jones®

is

a

registered

trademark

of

Dow

Jones

Trademark

Holdings

LLC

(“Dow

Jones”).

It

is

not

possible

to

invest

directly

in

an

index.

The

fund

is not

sponsored,

endorsed,

sold

or

promoted

by

SPDJI,

Dow

Jones,

S&P,

any

of

their

respective

affiliates

(collectively,

“S&P

Dow

Jones

Indices”).

S&P

Dow

Jones

Indices

does

not

make

any

representation

or

warranty,

express

or

implied,

to

the

owners

of

the fund

or

any

member

of

the

public

regarding

the

advisability

of

investing

in

securities

generally

or

in

the fund

particularly

or

the

ability

of

the

S&P

500

Index to

track

general

market

performance.

Past

performance

of

an

index

is

not

an

indication

or

guarantee

of

future

results.

S&P

Dow

Jones

Indices’

only

relationship

to

the

fund

with

respect

to

the

S&P

500

Index is

the

licensing

of

the Index

and

certain

trademarks,

service

marks

and/or

trade

names

of

S&P

Dow

Jones

Indices

and/or

its

licensors.

The S&P

500

Index

is

determined,

composed

and

calculated

by

S&P

Dow

Jones

Indices

without

regard

to

the

fund.

S&P

Dow

Jones

Indices

has

no

obligation

to

take

the

needs

of

the fund

or

the

owners

of

the fund

into

consideration

in

determining,

composing

or

calculating

the

S&P

500

Index.

S&P

Dow

Jones

Indices

is

not

responsible

for

and

has

not

participated

in

the

determination

of

the

prices,

and

amount

of

the fund

or

the

timing

of

the

issuance

or

sale

of

fund

shares

or

in

the

determination

or

calculation

of

the

equation

by

which fund

shares

are

to

be

converted

into

cash,

surrendered

or

redeemed,

as

the

case

may

be.

S&P

Dow

Jones

Indices

has

no

obligation

or

liability

in

connection

with

the

administration,

marketing

or

trading

of

the

fund.

There

is

no

assurance

that

investment

products

based

on

the

S&P 500

Index

will

accurately

track

index

performance

or

provide

positive

investment

returns.

S&P

Dow

Jones

Indices

LLC

is

not

an

investment

or

tax

advisor.

A

tax

advisor

should

be

consulted

to

evaluate

the

impact

of

any

tax-exempt

securities

on

portfolios

and

the

tax

consequences

of

making

any

particular

investment

decision.

Inclusion

of

a

security

within

an

index

is

not

a

recommendation

by

S&P

Dow

Jones

Indices

to

buy,

sell,

or

hold

such

security,

nor

is

it

considered

to

be

investment

advice.

S&P

DOW

JONES

INDICES

DOES

NOT

GUARANTEE

THE

ADEQUACY,

ACCURACY,

TIMELINESS

AND/OR

THE

COMPLETENESS

OF

THE

S&P 500

INDEX

OR

ANY

DATA

RELATED

THERETO

OR

ANY

COMMUNICATION,

INCLUDING

BUT

NOT

LIMITED

TO,

ORAL

OR

WRITTEN

COMMUNICATION

(INCLUDING

ELECTRONIC

COMMUNICATIONS)

WITH

RESPECT

THERETO.

S&P

DOW

JONES

INDICES

SHALL

NOT

BE

SUBJECT

TO

ANY

DAMAGES

OR

LIABILITY

FOR

ANY

ERRORS,

OMISSIONS,

OR

DELAYS

THEREIN.

S&P

DOW

JONES

INDICES

MAKES

NO

EXPRESS

OR

IMPLIED

WARRANTIES,

AND

EXPRESSLY

DISCLAIMS

ALL

WARRANTIES,

OF

MERCHANTABILITY

OR

FITNESS

FOR

A

PARTICULAR

PURPOSE

OR

USE

OR

AS

TO

RESULTS

TO

BE

OBTAINED

BY

THE

FUND,

OWNERS

OF

THE

FUND,

OR

ANY

OTHER

PERSON

OR

ENTITY

FROM

THE

USE

OF

THE

S&P

500

INDEX

OR

WITH

RESPECT

TO

ANY

DATA

RELATED

THERETO.

WITHOUT

LIMITING

ANY

OF

THE

FOREGOING,

IN

NO

EVENT

WHATSOEVER

SHALL

S&P

DOW

JONES

INDICES

BE

LIABLE

FOR

ANY

INDIRECT,

SPECIAL,

INCIDENTAL,

PUNITIVE,

OR

CONSEQUENTIAL

DAMAGES

INCLUDING

BUT

NOT

LIMITED

TO,

LOSS

OF

PROFITS,

TRADING

LOSSES,

LOST

TIME

OR

GOODWILL,

EVEN

IF

THEY

HAVE

BEEN

ADVISED

OF

THE

POSSIBILITY

OF

SUCH

DAMAGES,

WHETHER

IN

CONTRACT,

TORT,

STRICT

LIABILITY,

OR

OTHERWISE.

THERE

ARE

NO

THIRD

PARTY

BENEFICIARIES

OF

ANY

AGREEMENTS

OR

ARRANGEMENTS

BETWEEN

S&P

DOW

JONES

INDICES

AND

THE

FUND,

OTHER

THAN

THE

LICENSORS

OF

S&P

DOW

JONES

INDICES.

MSCI

Indexes

Source:

MSCI.

The

MSCI

information

may

only

be

used

for

your

internal

use,

may

not

be

reproduced

or

redisseminated

in

any

form

and

may

not

be

used

as

a

basis

for

or

a

component

of

any

financial

instruments

or

products

or

indices.

None

of

the

MSCI

information

is

intended

to

constitute

investment

advice

or

a

recommendation

to

make

(or

refrain

from

making)

any

kind

of

investment

decision

and

may

not

be

relied

on

as

such.

Historical

data

and

analysis

should

not

be

taken

as

an

indication

or

guarantee

of

any

future

performance

analysis,

forecast

or

prediction.

The

MSCI

information

is

provided

on

an

“as

is”

basis

and

the

user

of

this

information

assumes

the

entire

risk

of

any

use

made

of

this

information.

MSCI,

each

of

its

affiliates

and

each

other

person

involved

in

or

related

to

compiling,

computing

or

creating

any

MSCI

information

(collectively,

the

“MSCI

Parties”)

expressly

disclaims

all

warranties

(including,

without

limitation,

any

warranties

of

originality,

accuracy,

completeness,

timeliness,

non-infringement,

merchantability

and

fitness

for

a

particular

purpose)

with

respect

to

this

information.

Without

limiting

any

of

the

foregoing,

in

no

event

shall

any

MSCI

Party

have

any

liability

for

any

direct,

indirect,

special,

incidental,

punitive,

consequential

(including,

without

limitation,

lost

profits)

or

any

other

damages.

(www.msci.com)

3191741

We’re

fond

of

paper...in

its

original

form.

Switch

to

eDelivery

at

TIAA.org/eDelivery

or

check

with

your

financial

advisor

or

brokerage

account

for

eDelivery

options

A12447

(12/23)

Fixed-Income

Funds

TIAA-CREF

International

Annual

Report

TIAA-CREF

Funds

October

31,

2023

Fund

Name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

6.1

TIAA-CREF

Emerging

Markets

Debt

Fund

TEDNX

TEDHX

TEDPX

TEDTX

TEDLX

TEDVX

–

TIAA-CREF

International

Bond

Fund

TIBWX

TIBNX

TIBLX

TIBVX

TIBEX

TIBUX

Table

of

Contents

Letter

to

Investors

3

Important

Notices

5

About

the

Funds’

Benchmarks

6

Portfolio

Managers’

Comments

7

Fund

Performance

9

Expense

Examples

13

Report

of

Independent

Registered

Public

Accounting

Firm

15

Portfolios

of

Investments

16

Statement

of

Assets

and

Liabilities

44

Statement

of

Operations

46

Statement

of

Changes

in

Net

Assets

47

Financial

Highlights

48

Notes

to

Financial

Statements

52

Important

Tax

Information

61

Additional

Fund

Information

62

Trustees

and

Officers

63

3

Letter

to

Investors

Brad

Finkle

International

fixed-income

securities

posted

gains

for

the

twelve

months

ended

October

31,

2023.

Foreign

investment-grade

fixed-rate

bonds

and

emerging-

markets

debt

both

advanced,

while

central

banks

around

the

world

continued

to

respond

to

inflation

concerns

by

tightening

monetary

policy.

For

the

twelve

months:

Emerging-markets

debt

securities

returned

8.4%,

as

measured

by

the

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified.

International

investment-grade

fixed-rate

bonds

hedged

to

the

U.S.

dollar

gained

2.5%,

as

measured

by

the

Bloomberg

Global

Aggregate

Ex-USD

Index

(Hedged).

The

TIAA-CREF

Emerging

Markets

Debt

Fund

(Institutional

Class)

gained

11.1%,

surpassing

its

benchmark.

The

TIAA-CREF

International

Bond

Fund

(Institutional

Class)

advanced

4.1%

and

outperformed

its

benchmark.

Emerging-markets

debt

securities

rallied

at

the

beginning

of

the

period,

aided

by

improving

inflation

data.

However,

emerging-market

bonds

gave

back

a

portion

of

their

gains

late

in

the

period

amid

concerns

over

the

path

of

central

bank

policy

in

developed

markets

and

persistent

inflation

worries.

International

investment-grade

bonds

also

had

a

strong

start

with

signs

of

a

more

favorable

U.S.

inflation

trend

but

gave

back

some

gains

later

in

the

period.

The

economy

of

the

19-nation

euro

area

expanded

throughout

the

period

on

a

year-

over-year

basis,

although

the

pace

of

growth

slowed.

The

European

Central

Bank

increased

its

suite

of

benchmark

interest

rates

multiple

times

during

the

period.

The

Bank

of

England

raised

its

benchmark

rate

to

5.25%.

Foreign

bonds

outperformed

U.S.

bonds

For

the

twelve

months,

foreign

bonds

surpassed

the

performance

of

U.S.

bonds.

Emerging-markets

debt

outpaced

the

5.4%

gain

of

U.S.

high-yield

bonds,

as

measured

by

the

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index.

International

investment-grade

securities

outperformed

the

0.4%

advance

of

U.S.

investment-grade

fixed-rate

bonds,

as

measured

by

the

Bloomberg

U.S.

Aggregate

Bond

Index.

Investment

strategies

for

challenging

times

Financial

markets

around

the

world

often

present

a

wide

range

of

opportunities

and

risks.

Over

the

last

twelve

months,

certain

asset

classes–including

international

fixed-income

securities–

performed

well

as

global

central

banks

tackled

the

challenge

of

curbing

inflation

without

stalling

economic

growth.

In

the

future,

new

circumstances

will

surely

arise,

but

the

response

of

individual

markets

will

likely

remain

varied

and

difficult

to

anticipate.

As

a

result,

diversification

by

geography

and

asset

class

may

help

investors

navigate

the

opportunities

and

risks

of

the

global

bond

markets

more

effectively.

We

believe

a

broadly

diversified

portfolio

of

fixed-income

securities,

professionally

managed

within

a

mutual

fund,

has

the

potential

to

help

investors

to

better

manage

shifts

in

market

conditions.

Of

course,

diversification

does

not

guarantee

against

market

losses.

Letter

to

Investors

(continued)

4

If

you

have

any

questions

about

your

investment

in

the

TIAA-CREF

International

Fixed-Income

Funds,

please

contact

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

We

would

be

happy

to

assist

you.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

Important

Notices

5

Securities

and

Exchange

Commission

(the

“SEC”)

Adopts

Amendments

for

Tailored

Shareholder

Reports

On

October

26,

2022,

the

SEC

adopted

rule

and

form

amendments

(the

“Amendments”)

that

require

mutual

funds

and

exchange-

traded

funds

registered

on

Form

N-1A

to

provide

shareholders

with

streamlined

annual

and

semi-annual

shareholder

reports

(“Tailored

Shareholder

Reports”). The

Amendments

require

funds

to

prepare

a

separate

Tailored

Shareholder

Report

for

each

share

class

of

each

series

of

a

fund.

As

a

result,

shareholders

will

receive

a

report

that

covers

only

the

class

of

a

multi-class

fund

in

which

the

shareholder

invests.

Tailored

Shareholder

Reports

are

meant

to

be

three

to

four

pages

in

length

and

will

highlight

key

information

such

as

a

fund’s

expenses,

performance

and

portfolio

holdings.

Other,

more

detailed

information

that

currently

appears

in

fund

shareholder

reports

will

be

made

available

online,

filed

with

the

SEC,

and

delivered

to

investors

free

of

charge

in

paper

or

electronically

upon

request.

The

first

Tailored

Shareholder

Reports

to

be

prepared

for

these

Funds

will

be

for

the

reporting

period

ended

October

31,

2024.

Portfolio

Manager

Update

for

TIAA-CREF

Emerging

Markets

Debt

Fund

and

TIAA-CREF

International

Bond

Fund

Effective

July

28,

2023,

Anupam

Damani

was

removed

as

a

portfolio

manager

and

John

Espinosa,

Alejandro

Rivera,

Karina

Bubeck

and

Bao

Vo

have

been

added

as

a

portfolio

managers’

of

the

Emerging

Markets

Debt

Fund.

Effective

July

28,

2023,

Anupam

Damani

was

removed

as

a

Portfolio

Manager

and

Melissa

Zaccagnino

and

Aaron

Enriquez

have

been

added

as

portfolio

managers’

of

the

International

Bond

Fund.

There

were

no

other

changes

to

the

portfolio

management

of

the

Funds

during

the

reporting

period.

About

the

Funds’

Benchmarks

6

Emerging

Markets

Debt

Fund

J.P.

Morgan

Emerging

Markets

Bond

Index

Global

Diversified

(EMBI-GD

Index):

An

unmanaged,

market-capitalization-

weighted,

total-return

index

tracking

the

traded

market

for

U.S.-dollar-denominated

Brady

bonds,

Eurobonds

and

other

debt

instruments

issued

by

sovereign

and

quasi-sovereign

entities.

The

index

limits

the

weights

of

those

index

countries

with

larger

debt

stocks

by

only

including

a

specified

portion

of

these

countries’

eligible

current

face

amounts

of

debt

outstanding.

International

Bond

Fund

Bloomberg

Global

Aggregate

Ex-USD

Index

(Hedged):

An

unmanaged,

global,

investment-grade

fixed-rate

bond

market

index,

including

treasury,

government-related,

corporate

and

securitized

fixed-rate

bonds

from

both

developed-

and

emerging-markets

issuers,

in

24

local

currencies.

Securities

are

SEC

registered,

taxable,

non-dollar

denominated

and

must

have

a

minimum

maturity

of

one

year.

Securities

must

be

rated

investment

grade

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch

after

dropping

the

highest

and

lowest

available

ratings.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds’

latest

prospectus.

Information

has

been

obtained

from

sources

believed

to

be

reliable

but

J.P.

Morgan

does

not

guarantee

its

completeness

or

accuracy.

The

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified

(EMBI-GD

Index)

is

used

with

permission.

The

EMBI-GD

Index

may

not

be

copied,

used,

or

distributed

without

J.P.

Morgan’s

prior

written

approval.

Copyright

2023,

J.P.

Morgan

Chase

&

Co.

All

rights

reserved.

Source:

Bloomberg

Index

Services

Limited.

BLOOMBERG®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

neither

approves

nor

endorses

this

material,

nor

guarantees

the

accuracy

or

completeness

of

any

information

herein,

nor

makes

any

warranty,

express

or

implied,

as

to

the

results

to

be

obtained

therefrom

and,

to

the

maximum

extent

allowed

by

law,

neither

shall

have

any

liability

or

responsibility

for

injury

or

damages

arising

in

connection

therewith.

Portfolio

Managers’

Comments

7

Emerging

Markets

Debt

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

Emerging

Markets

Debt

Fund returned

11.11%

for

the

Institutional

Class,

compared

with

the

8.36% return

of

its

benchmark,

the

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Emerging-markets

debt

rose

amid

U.S.

interest

rate

hikes

and

banking

sector

concerns

Emerging-markets

(EM)

debt,

as

measured

by

the

J.P.

Morgan

index,

posted

a

strong

gain

of

10.54%

in

the

first

half

of

the

period.

EM

debt

rallied

at

the

end

of

2022

as

softening

inflation

data

opened

the

door

for

the

Federal

Reserve

to

downshift

the

pace

of

its

monetary

policy

tightening.

Investors

believed

the

Fed

was

past

its

peak

hawkishness,

but

the

widely

anticipated

inflation

downturn

proved

overly

hopeful.

March

brought

further

volatility

as

banking

sector

concerns

in

the

United

States

emerged.

Risk

aversion

spiked

initially

with

fears

of

a

U.S.

hard

landing,

however,

most

of

these

concerns

subsided

as

economic

growth

has

not

abated.

In

the

final

six

months

of

the

period,

EM

debt

returned

–1.97%

as

concerns

over

the

path

of

central

bank

policy

in

developed

markets

and

persistent

inflation

worries

stalled

gains.

Furthermore,

the

strength

of

U.S.

economic

growth

contrasted

sharply

with

relatively

disappointing

economic

activity

data

from

China.

Geopolitical

risk

came

to

the

forefront

in

October

following

Hamas’

surprise

attack

on

Israel,

which

weighed

on

the

broader

region.

Fund

surpassed

its

benchmark

For

the

twelve-month

period,

the

Fund

outperformed

its

benchmark,

primarily

due

to

country

allocations

across

both

sovereigns

and

corporates.

In

a

market

of

rising

interest

rates,

the

Fund’s

shorter-duration

posture,

due

largely

to

an

overweight

to

EM

corporates,

helped

drive

outperformance.

Local

market

positions

also

contributed,

along

with

the

Fund’s

elevated

cash

level,

as

the

latter

mitigated

downside

volatility.

Within

corporates,

security

selection

and

an

underweight

in

Chinese

quasi-sovereigns

boosted

relative

performance.

Selections

within

Colombian

corporates,

all

of

which

are

out-of-benchmark,

also

contributed.

The

Fund

also

held

out-of-

benchmark

positions

in

Mexico

and

Turkey

that

performed

well

during

the

period.

Mexico

was

led

by

exposure

to

an

airline

and

Turkey

by

a

packaged

food

company.

An

overweight

to

Ukrainian

quasi-sovereigns

and

Costa

Rican

corporates

also

boosted

the

Fund’s

return.

Within

sovereigns,

country

positioning

within

Pakistan,

Zambia

and

Ukraine,

all

in

the

distressed

category,

were

significant

drivers

of

positive

relative

performance.

Within

local

market

sovereigns,

exposure

to

the

debt

of

Ukraine,

Uganda,

Romania,

Uruguay,

Peru

and

Brazil

contributed

to

the

Fund’s

relative

return

for

the

period.

By

contrast,

the

Fund’s

performance

was

hurt

within

sovereigns

by

an

underweight

in

Sri

Lanka

and

an

overweight

in

Egypt.

Out-of-benchmark

corporate

positions

in

Israel

also

detracted.

Bonds

sold

off

sharply

following

the

brutal

attack

by

Hamas,

and

Israel’s

forceful

response.

An

overweight

and

security

selection

in

Brazil

corporates,

particularly

a

private-sector

retailer

that

filed

for

bankruptcy

in

January

after

it

was

revealed

that

the

company

failed

to

disclose

a

significant

amount

of

liabilities,

further

hindered

the

Fund’s

relative

result.

International

Bond

Fund

Performance

for

the

twelve

months

ended

October

31,

2023

The

International

Bond

Fund returned

4.12%

for

the

Institutional

Class,

compared

with

the

2.45% return

of

its

benchmark,

the

Bloomberg

Global

Aggregate

ex-USD

Index

(Hedged).

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

International

fixed-income

markets

advanced

amid

rising

interest

rates

Global

fixed-income

markets

rallied

at

the

end

of

2022

as

a

more

favorable

U.S.

inflation

report

opened

the

door

for

the

Federal

Reserve

to

slow

its

pace

of

tightening.

China's

scrapping

of

zero-COVID-19

policies

also

buoyed

investor

sentiment.

However,

optimism

was

tempered

in

February

as

expectations

for

a

quick

inflation

downturn

proved

overly

hopeful.

Banking

liquidity

concerns

roiled

U.S.

and

broader

financial

markets

in

March

but

also

brought

forward

expectations

that

monetary

policy

in

developed

markets

would

need

to

turn

more

dovish.

As

inflation

persisted

through

the

end

of

the

period,

global

central

banks

continued

monetary

tightening

policies,

causing

concern

among

investors

about

the

possibility

of

a

recession.

The

Federal

Reserve

increased

the

federal

funds

target

rate

in

July

2023

to

a

22-year

high

of

5.25%–5.50%.

The

European

Central

Bank

raised

its

key

interest

rate

in

ten

consecutive

meetings

starting

in

July

of

2022,

bringing

it

to

4.00%

before

pausing

in

late

October.

The

Bank

of

England

also

steadily

increased

its

benchmark

rate

over

the

period,

bringing

it

to

5.25%.

Portfolio

Managers’

Comments

(continued)

8

Fund

surpassed

its

benchmark

For

the

twelve-month

period,

the

Fund

outperformed

its

benchmark.

Asset

allocation

within

government

credit

contributed

most,

especially

in

emerging

markets

(EM)—most

notably

in

Africa

(Ghana,

Nigeria

and

Kenya).

The

Fund’s

exposure

to

select

Eastern

Europe

issuers

(Ukraine

and

Serbia)

and

exposure

to

El

Salvador

and

Guatemala

in

Latin

America

also

benefited.

Many

of

these

EM

countries

are

not

included

in

the

benchmark.

The

Fund’s

overweight

to

corporate

credit

and

commercial

mortgage-backed

securities

also

aided

relative

performance.

Yield

curve

positioning

and

security

selection

among

Treasuries

further

contributed

to

the

Fund’s

relative

return.

By

contrast,

security

selection

in

corporates

and

commercial

mortgage-backed

securities

proved

detrimental,

despite

the

overweight

position

in

these

sectors

benefiting

the

Fund’s

relative

return.

Select

foreign

exchange

exposure

also

detracted

from

the

Fund’s

relative

return

as

the

U.S.

dollar

rose.

Exposure

to

the

Japanese

yen

and

euro

along

with

a

basket

of

select

EM

currencies,

including

the

Israeli

shekel,

Malaysian

ringgit

and

Egyptian

pound

weighed

on

relative

performance.

Emerging

Markets

Debt

Fund

9

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

September

26,

2014)

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Emerging

Markets

Debt

Fund

Inception

date

1

year

5

years

since

inception

gross

net

Institutional

Class

9/26/14

11.11%

1.71%

2.47%

0.62%

0.62%

Advisor

Class

12/4/15

10.99

1.63

2.43

†

0.69

0.69

Premier

Class

9/26/14

10.78

1.53

2.29

0.78

0.78

Retirement

Class

9/26/14

10.71

1.46

2.22

0.87

0.87

Retail

Class

9/26/14

10.65

1.36

2.13

0.93

0.93

Class

W

9/28/18

11.82

2.33

2.83

†

0.62

0.00

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified

–

8.36

-0.19

1.46

§

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

§

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

Emerging

Markets

Debt

Fund

(continued)

10

Fund

profile

Portfolio

composition

Holdings

by

country

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

J.P

Morgan methodology,

which

uses

the

middle

rating

of

the

S&P, Moody's and Fitch

ratings

to

determine

an

instrument's

rating

category.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

as

of

10/31/2023

Net

assets

$

448.93

million

Portfolio

turnover

rate

27%

Number

of

issues

330

Option-adjusted

duration

‡

5.80

years

Average

maturity

§

10.71

years

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

%

of

net

assets

as

of

10/31/2023

Government

bonds

48.0

Corporate

bonds

46.0

Common

stocks

0.9

Structured

assets

0.5

Bank

loan

obligations

0.4

Short-term

investments

2.7

Investments

purchased

with

collateral

from

securities

lending

1.2

Other

assets

&

liabilities,

net

0.3

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

Mexico

9.3

South

Africa

6.0

Brazil

4.9

Indonesia

4.6

Colombia

4.1

Chile

4.0

Dominican

Republic

3.3

Turkey

3.1

Israel

2.7

India

2.6

59

other

nations

51.5

Short-term

investments

2.7

Investments

purchased

with

collateral

from

securities

lending

1.2

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2023

Less

than

1

year

2.2

1-3

years

8.6

3-5

years

17.2

5-10

years

41.9

Over

10

years

30.1

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2023

Aaa/AAA

0.2

A/A

8.9

Baa/BBB

32.0

Ba/BB

30.9

B/B

16.7

Below

B/B

6.4

Non-rated

4.9

Total

100.0

International

Bond

Fund

11

Performance

as

of

October

31,

2023

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

5,

2016)

Ending

amounts

are

as

of

October

31,

2023.

For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

International

Bond

Fund

Inception

date

1

year

5

years

since

inception

gross

net

Institutional

Class

8/5/16

4

.12

%

0

.71

%

0

.72

%

0

.61

%

0

.60

%

Advisor

Class

8/5/16

3

.96

0

.65

0

.67

0

.71

0

.71

Premier

Class

8/5/16

3

.91

0

.52

0

.56

0

.78

0

.75

Retirement

Class

8/5/16

3

.92

0

.45

0

.47

0

.86

0

.85

Retail

Class

8/5/16

3

.75

0

.36

0

.38

1

.10

0

.95

Class

W

9/28/18

4

.80

1

.32

1

.14

†

0

.61

0

.00

Bloomberg

Global

Aggregate

ex-USD

Index

(Hedged)

–

2

.45

0

.76

0

.85

§

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

29,

2024,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

Class

W

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

Class

W

shown

for

these

periods

would

have

been

different

because

Class

W

has

different

expenses

than

the

Institutional

Class.

§

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

International

Bond

Fund

(continued)

12

Fund

profile

Portfolio

composition

Holdings

by

country

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

as

of

10/31/2023

Net

assets

$

373.11

million

Portfolio

turnover

rate

29%

Number

of

issues

400

Option-adjusted

duration

‡

5.87

years

Average

maturity

§

7.16

years

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

%

of

net

assets

as

of

10/31/2023

Government

bonds

66.4

Corporate

bonds

21.3

Structured

assets

5.7

Bank

loan

obligations

0.3

Short-term

investments

4.9

Investments

purchased

with

collateral

from

securities

lending

0.3

Other

assets

&

liabilities,

net

1.1

Total

100.0

%

of

portfolio

investments

as

of

10/31/2023

United

States

10.9

Japan

10.0

China

9.6

Germany

6.9

United

Kingdom

5.7

Supranational

4.1

Canada

4.0

France

3.9

Ireland

3.5

Korea,

Republic

of

3.2

57

other

nations

32.9

Short-term

investments

5.0

Investments

purchased

with

collateral

from

securities

lending

0.3

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2023

Less

than

1

year

10.1

1-3

years

13.8

3-5

years

21.8

5-10

years

32.2

Over

10

years

22.1

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2023

Aaa/AAA

16.7

Aa/AA

16.4

A/A

28.8

Baa/BBB

20.8

Ba/BB

9.2

B/B

4.1

Below

B/B

1.0

Non-rated

3.0

Total

100.0

13

Expense

Examples

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

examples

that

appear

in

this

report

are

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

do

not

reflect

transactional

costs.

The

examples

are

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

funds

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

reinvested

dividends

or

other

distributions.

The

examples

are

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

six-month

period

and

held

for

the

entire

period

(

May

1,

2023

–

October

31,

2023

).

Actual

expenses

The

first

section

in

each

table

uses

the

Fund’s

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

together

with

the

amount

you

invested,

to

estimate

the

expenses

that

you

paid

over

the

six-month

period.

Simply

divide

your

account

value

by

$1,000

(for

example,

an

$8,600

account

value

divided

by

$1,000

=

8.6),

then

multiply

the

result

by

the

number

in

the

first

line

under

the

heading

“Expenses

incurred

during

the

period”

to

estimate

the

expenses

you

paid

during

the

six-month

period.

Some

funds

have

a

contractual

fee

reimbursement.

Had

these

not

been

in

effect,

fund

expenses

would

have

been

higher.

Hypothetical

example

for

comparison

purposes

The

second

section

in

each

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund’s

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class’

actual

return.

This

hypothetical

example

cannot

be

used

to

estimate

the

actual

expenses

you

paid

for

the

period,

but

rather

allows

you

to

compare

the

ongoing

costs

of

investing

in

the

Fund

with

the

costs

of

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

other

mutual

funds.

6.1

Emerging

Markets

Debt

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$998.28

$997.91

$996.14

$996.94

$995.47

$1,001.48

Expenses

incurred

during

the

period*

$3.15

$3.54

$3.99

$4.53

$4.64

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.05

$1,021.67

$1,021.20

$1,020.67

$1,020.55

$1,025.20

Expenses

incurred

during

the

period*

$3.19

$3.58

$4.04

$4.58

$4.70

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.63%

for

Institutional

Class,

0.70%

for

Advisor

Class,

0.79%

for

Premier

Class,

0.90%

for

Retirement

Class,

0.92%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

Examples

(continued)

14

–

International

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$994.97

$993.73

$992.52

$993.71

$992.46

$997.49

Expenses

incurred

during

the

period*

$2.99

$3.40

$3.74

$4.26

$4.75

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.20

$1,021.80

$1,021.45

$1,020.93

$1,020.44

$1,025.19

Expenses

incurred

during

the

period*

$3.03

$3.44

$3.80

$4.32

$4.82

$0.01

*

"Expenses

incurred

during

the

period”

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

184

days

in

the

six

months

ended

October

31,

2023.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.60%

for

Institutional

Class,

0.68%

for

Advisor

Class,

0.75%

for

Premier

Class,

0.85%

for

Retirement

Class,

0.95%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Report

of

Independent

Registered

Public

Accounting

Firm

15

To

the

Board

of

Trustees

of

TIAA-CREF

Funds

and

Shareholders

of

TIAA-CREF

Emerging

Markets

Debt

Fund

and

TIAA-CREF

International

Bond

Fund

Opinions

on

the

Financial

Statements

We

have

audited

(i)

the

accompanying

statement

of

assets

and

liabilities,

including

the

portfolio

of

investments,

of

TIAA-CREF

Emerging

Markets

Debt

Fund

as

of

October

31,

2023,

the

related

statement

of

operations

for

the

year

ended

October

31,

2023,

the

statement

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2023,

and

(ii)

the

accompanying

consolidated

statement

of

assets

and

liabilities,

including

the

consolidated

portfolio

of

investments,

of

TIAA-CREF

International

Bond

Fund

as

of

October

31,

2023,

the

related

consolidated

statement

of

operations

for

the

year

ended

October

31,

2023,

the

consolidated

statement

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023,

including

the

related

notes,

and

the

consolidated

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2023

(two

of

the

funds

constituting

TIAA-CREF

Funds,

hereafter

collectively

referred

to

as

the

“Funds”)

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

as

of

October

31,

2023,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023

and

each

of

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2023

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

of

the

Funds’

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds’

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2023

by

correspondence

with

the

custodian,

brokers

and

agent

banks;

when

replies

were

not

received

from

brokers

or

agent

banks,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/PricewaterhouseCoopers

LLP

Charlotte,

North

Carolina

December

21,

2023

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

TIAA-CREF

Funds’

investment

company

group

since

2005.

Emerging

Markets

Debt

Fund

October

31,

2023

Portfolio

of

Investments

16

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

LONG-TERM

INVESTMENTS

-

95.8%

BANK

LOAN

OBLIGATIONS

-

0.4%

CHILE

-

0

.4

%

$

1,840,000

(a)

Coral-US

Co-Borrower

LLC

SOFR

1

M

+

3.000%

8

.193

%

10/15/29

$

1,827,230‌

TOTAL

CHILE

1,827,230‌

TOTAL

BANK

LOAN

OBLIGATIONS

1,827,230‌

(Cost

$1,828,006)

CORPORATE

BONDS

-

46

.0

%

ARGENTINA

-

0

.3

%

1,500,000

(b)

YPF

S.A.

6

.950

07/21/27

1,133,664‌

TOTAL

ARGENTINA

1,133,664‌

AUSTRALIA

-

0

.6

%

1,725,000

AngloGold

Ashanti

Holdings

plc

3

.375

11/01/28

1,428,533‌

1,500,000

AngloGold

Ashanti

Holdings

plc

3

.750

10/01/30

1,181,023‌

TOTAL

AUSTRALIA

2,609,556‌

BRAZIL

-

2

.7

%

2,200,000

(b)

Embraer

Netherlands

Finance

BV

7

.000

07/28/30

2,148,059‌

2,750,000

(b)

Itau

Unibanco

Holding

S.A.

4

.625

N/A(c)

2,281,037‌

4,000,000

(b),(d)

JSM

Global

Sarl

4

.750

10/20/30

584,483‌

2,400,000

(b)

Minerva

Luxembourg

S.A.

8

.875

09/13/33

2,355,480‌

527,012

(b)

Odebrecht

Oil

&

Gas

Finance

Ltd

0

.000

N/A(c)

10,540‌

38,084

(b),(e)

Oi

S.A.

14

.000

09/07/24

37,894‌

714,000

(d),(e)

Oi

S.A.

10

.000

07/27/25

39,270‌

1,500,000

Petrobras

Global

Finance

BV

6

.900

03/19/49

1,355,535‌

600,000

(f)

Petrobras

Global

Finance

BV

5

.500

06/10/51

448,600‌

1,500,400

(b)

Rio

Oil

Finance

Trust

8

.200

04/06/28

1,509,777‌

2,000,000

(b)

Rumo

Luxembourg

Sarl

4

.200

01/18/32

1,538,000‌

TOTAL

BRAZIL

12,308,675‌

CHILE

-

3

.3

%

2,385,027

(b)

Alfa

Desarrollo

S.p.A

4

.550

09/27/51

1,549,019‌

2,000,000

(b)

Banco

del

Estado

de

Chile

2

.704

01/09/25

1,916,900‌

2,325,000

(b)

Celulosa

Arauco

y

Constitucion

S.A.

5

.150

01/29/50

1,616,869‌

2,250,000

(b)

Cia

Cervecerias

Unidas

S.A.

3

.350

01/19/32

1,815,037‌

1,175,000

(b),(f)

Corp

Nacional

del

Cobre

de

Chile

5

.950

01/08/34

1,091,451‌

2,150,000

(b)

Corp

Nacional

del

Cobre

de

Chile

4

.375

02/05/49

1,453,012‌

2,075,000

(b)

Embotelladora

Andina

S.A.

3

.950

01/21/50

1,371,634‌

2,000,000

(b)

Empresa

de

los

Ferrocarriles

del

Estado

3

.068

08/18/50

1,078,290‌

1,775,000

(b)

Empresa

Nacional

del

Petroleo

3

.450

09/16/31

1,376,966‌

350,000

(b)

Empresa

Nacional

del

Petroleo

6

.150

05/10/33

324,676‌

1,030,000

(b)

Inversiones

CMPC

S.A.

6

.125

06/23/33

969,745‌

387,452

Inversiones

Latin

America

Power

Ltd

5

.125

06/15/33

195,971‌

484,315

(b)

Inversiones

Latin

America

Power

Ltd

5

.125

06/15/33

244,964‌

TOTAL

CHILE

15,004,534‌

CHINA

-

0

.9

%

2,500,000

(b)

ENN

Clean

Energy

International

Investment

Ltd

3

.375

05/12/26

2,291,506‌

2,050,000

(b),(f)

Lenovo

Group

Ltd

3

.421

11/02/30

1,651,882‌

TOTAL

CHINA

3,943,388‌

COLOMBIA

-

2

.7

%

1,675,000

Bancolombia

S.A.

4

.625

12/18/29

1,465,729‌

1,375,000

Ecopetrol

S.A.

4

.625

11/02/31

1,031,638‌

17

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

COLOMBIA—continued

$

1,500,000

Ecopetrol

S.A.

8

.875

%

01/13/33

$

1,440,603‌

2,000,000

Ecopetrol

S.A.

5

.875

11/02/51

1,253,895‌

2,000,000

(b)

Empresas

Publicas

de

Medellin

ESP

4

.250

07/18/29

1,559,472‌

1,000,000

(b)

Empresas

Publicas

de

Medellin

ESP

4

.375

02/15/31

740,728‌

2,000,000

(b)

EnfraGen

Energia

Sur

S.A.

5

.375

12/30/30

1,331,481‌

2,075,000

(b)

Grupo

Aval

Ltd

4

.375

02/04/30

1,530,878‌

2,200,000

(b)

SierraCol

Energy

Andina

LLC

6

.000

06/15/28

1,703,044‌

TOTAL

COLOMBIA

12,057,468‌

COSTA

RICA

-

0

.9

%

1,916,720

(b)

Autopistas

del

Sol

S.A.

7

.375

12/30/30

1,693,940‌

2,300,000

(b)

Liberty

Costa

Rica

Senior

Secured

Finance

10

.875

01/15/31

2,231,301‌

TOTAL

COSTA

RICA

3,925,241‌

DOMINICAN

REPUBLIC

-

0

.9

%

2,000,000

(b)

Aeropuertos

Dominicanos

Siglo

XXI

S.A.

6

.750

03/30/29

1,937,400‌

2,500,000

(b)

AES

Andres

BV

5

.700

05/04/28

2,192,447‌

TOTAL

DOMINICAN

REPUBLIC

4,129,847‌

GHANA

-

0

.3

%

1,774,000

(b)

Tullow

Oil

plc

10

.250

05/15/26

1,523,866‌

TOTAL

GHANA

1,523,866‌

GUATEMALA

-

0

.7

%

1,225,000

(b)

CT

Trust

5

.125

02/03/32

943,842‌

1,650,000

(b)

Investment

Energy

Resources

Ltd

6

.250

04/26/29

1,452,908‌

725,000

(b)

Millicom

International

Cellular

S.A.

4

.500

04/27/31

546,849‌

TOTAL

GUATEMALA

2,943,599‌

INDIA

-

2

.3

%

2,100,000

(b)

Adani

Ports

&

Special

Economic

Zone

Ltd

4

.375

07/03/29

1,596,774‌

1,800,000

(b)

Adani

Ports

&

Special

Economic

Zone

Ltd

3

.100

02/02/31

1,183,914‌

1,225,000

(b)

Indian

Railway

Finance

Corp

Ltd

3

.570

01/21/32

1,002,209‌

2,500,000

(b)

Network

i2i

Ltd

3

.975

N/A(c)

2,249,974‌

2,000,000

(b)

REC

Ltd

5

.625

04/11/28

1,945,022‌

2,700,000

(b)

ReNew

Wind

Energy

AP2

4

.500

07/14/28

2,208,733‌

TOTAL

INDIA

10,186,626‌

INDONESIA

-

3

.9

%

1,860,000

(b)

Freeport

Indonesia

PT

5

.315

04/14/32

1,657,425‌

1,000,000

(b)

Freeport

Indonesia

PT

6

.200

04/14/52

825,200‌

3,500,000

(b)

Indonesia

Asahan

Aluminium

PT

5

.450

05/15/30

3,246,250‌

2,000,000

(b)

Medco

Laurel

Tree

Pte

Ltd

6

.950

11/12/28

1,847,249‌

2,000,000

Medco

Maple

Tree

Pte

Ltd

8

.960

04/27/29

1,962,500‌

1,500,000

(b)

Medco

Oak

Tree

Pte

Ltd

7

.375

05/14/26

1,491,195‌

301,000

(b)

Medco

Platinum

Road

Pte

Ltd

6

.750

01/30/25

303,112‌

1,500,000

(b)

Pertamina

Persero

PT

3

.100

08/27/30

1,240,194‌

1,250,000

(b)

Pertamina

Persero

PT

4

.700

07/30/49

908,553‌

1,000,000

(b)

Perusahaan

Listrik

Negara

PT

5

.450

05/21/28

969,905‌

1,000,000

(b)

Perusahaan

Listrik

Negara

PT

5

.250

10/24/42

782,688‌

2,000,000

(b)

Perusahaan

Listrik

Negara

PT

6

.150

05/21/48

1,695,000‌

664,000

(b)

Saka

Energi

Indonesia

PT

4

.450

05/05/24

652,825‌

TOTAL

INDONESIA

17,582,096‌

ISRAEL

-

2

.7

%

3,000,000

(b)

Bank

Hapoalim

BM

3

.255

01/21/32

2,433,660‌

3,141,000

(b)

Energean

Israel

Finance

Ltd

5

.375

03/30/28

2,569,118‌

485,000

(b)

Energean

Israel

Finance

Ltd

8

.500

09/30/33

422,696‌

2,000,000

(b)

Israel

Chemicals

Ltd

6

.375

05/31/38

1,668,000‌

2,000,000

(b)

Israel

Electric

Corp

Ltd

3

.750

02/22/32

1,520,000‌

1,800,000

(b)

Leviathan

Bond

Ltd

6

.750

06/30/30

1,522,105‌

Emerging

Markets

Debt

Fund

October

31,

2023

18

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ISRAEL—continued

EUR

2,000,000

Teva

Pharmaceutical

Finance

Netherlands

II

BV

4

.375

%

05/09/30

$

1,797,238‌

TOTAL

ISRAEL

11,932,817‌

KAZAKHSTAN

-

1

.5

%

$

1,550,000

(b)

KazMunayGas

National

Co

JSC

6

.375

10/24/48

1,212,100‌

2,475,000

(b)

KazTransGas

JSC

4

.375

09/26/27

2,255,864‌

2,800,000

(b)

Tengizchevroil

Finance

Co

International

Ltd

4

.000

08/15/26

2,495,304‌

1,000,000

(b)

Tengizchevroil

Finance

Co

International

Ltd

3

.250

08/15/30

743,480‌

TOTAL

KAZAKHSTAN

6,706,748‌

KOREA,

REPUBLIC

OF

-

0

.3

%

1,300,000

(b)

SK

Hynix,

Inc

6

.500

01/17/33

1,237,360‌

TOTAL

KOREA,

REPUBLIC

OF

1,237,360‌

MACAU

-

0

.3

%

2,000,000

Sands

China

Ltd

3

.500

08/08/31

1,514,249‌

TOTAL

MACAU

1,514,249‌

MALAYSIA

-

1

.5

%

3,000,000

(b)

Genm

Capital

Labuan

Ltd

3

.882

04/19/31

2,272,176‌

3,000,000

(b)

Misc

Capital

Two

Labuan

Ltd

3

.750

04/06/27

2,763,885‌

2,000,000

(b)

Petronas

Capital

Ltd

3

.500

04/21/30

1,749,522‌

TOTAL

MALAYSIA

6,785,583‌

MEXICO

-

6

.7

%

1,000,000

(b)

Banco

Nacional

de

Comercio

Exterior

SNC

4

.375

10/14/25

959,547‌

2,000,000

(b)

Banco

Nacional

de

Comercio

Exterior

SNC

2

.720

08/11/31

1,601,433‌

800,000

(b)

BBVA

Bancomer

S.A.

5

.350

11/12/29

773,736‌

2,000,000

(b)

BBVA

Bancomer

S.A.

5

.125

01/18/33

1,692,368‌

1,300,000

(b)

Cemex

SAB

de

C.V.

9

.125

N/A(c)

1,332,675‌

2,025,000

(b)

Cemex

SAB

de

C.V.

5

.125

N/A(c)

1,873,460‌

360,000

(b)

Comision

Federal

de

Electricidad

6

.125

06/16/45

289,725‌

1,640,000

(b)

Comision

Federal

de

Electricidad

6

.264

02/15/52

1,240,805‌

1,300,000

(b)

Electricidad

Firme

de

Mexico

Holdings

S.A.

de

C.V.

4

.900

11/20/26

1,126,125‌

3,513,000

(b)

Grupo

Aeromexico

SAB

de

C.V.

8

.500

03/17/27

3,258,899‌

3,085,500

(b)

Mexico

Remittances

Funding

Fiduciary

Estate

Management

Sarl

4

.875

01/15/28

2,727,377‌

3,800,000

(b),(f)

Nemak

SAB

de

C.V.

3

.625

06/28/31

2,811,454‌

EUR

1,700,000

Petroleos

Mexicanos

3

.625

11/24/25

1,618,548‌

4,647,000

Petroleos

Mexicanos

6

.840

01/23/30

3,618,848‌

4,219,000

Petroleos

Mexicanos

6

.700

02/16/32

3,110,736‌

2,000,000

Petroleos

Mexicanos

5

.625

01/23/46

1,060,125‌

2,075,000

Petroleos

Mexicanos

6

.350

02/12/48

1,144,306‌

TOTAL

MEXICO

30,240,167‌

MOROCCO

-

0

.5

%

650,000

(b)

OCP

S.A.

3

.750

06/23/31

510,328‌

3,000,000

(b)

OCP

S.A.

5

.125

06/23/51

1,919,280‌

TOTAL

MOROCCO

2,429,608‌

NETHERLANDS

-

0

.1

%

RUB

158,400,000

(b),(g)

VEON

Holdings

BV

8

.125

09/16/26

595,961‌

TOTAL

NETHERLANDS

595,961‌

NIGERIA

-

0

.3

%

1,775,000

(b)

Access

Bank

plc

6

.125

09/21/26

1,469,878‌

TOTAL

NIGERIA

1,469,878‌

PANAMA

-

1

.1

%

2,000,000

(b)

Aeropuerto

Internacional

de

Tocumen

S.A.

5

.125

08/11/61

1,337,703‌

2,000,000

(b)

Banco

Nacional

de

Panama

2

.500

08/11/30

1,481,878‌

1,175,000

(b)

Cable

Onda

S.A.

4

.500

01/30/30

927,516‌

19

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PANAMA—continued

$

1,496,723

(b)

UEP

Penonome

II

S.A.

6

.500

%

10/01/38

$

1,122,542‌

TOTAL

PANAMA

4,869,639‌

PERU

-

1

.5

%

PEN

9,000,000

(b)

Alicorp

SAA

6

.875

04/17/27

2,226,807‌

1,225,000

(b),(f)

Cia

de

Minas

Buenaventura

SAA

5

.500

07/23/26

1,066,653‌

825,000

(b)

Hunt

Oil

Co

of

Peru

LLC

Sucursal

Del

Peru

8

.550

09/18/33

827,219‌

853,091

(b)

Lima

Metro

Line

2

Finance

Ltd

4

.350

04/05/36

726,276‌

2,750,000

(b)

Petroleos

del

Peru

S.A.

5

.625

06/19/47

1,504,746‌

534,000

(b)

Volcan

Cia

Minera

SAA

4

.375

02/11/26

256,387‌

TOTAL

PERU

6,608,088‌

QATAR

-

0

.6

%

2,000,000

(b)

Qatar

Petroleum

3

.300

07/12/51

1,219,096‌

1,500,000

QNB

Finance

Ltd

2

.750

02/12/27

1,356,527‌

TOTAL

QATAR

2,575,623‌

SAUDI

ARABIA

-

1

.1

%

2,500,000

(b)

EIG

Pearl

Holdings

Sarl

4

.387

11/30/46

1,706,050‌

2,500,000

(b),(f)

Saudi

Arabian

Oil

Co

4

.375

04/16/49

1,827,865‌

2,000,000

(b)

Saudi

Arabian

Oil

Co

3

.250

11/24/50

1,180,000‌

TOTAL

SAUDI

ARABIA

4,713,915‌

SOUTH

AFRICA

-

3

.9

%

2,000,000

(b)

Eskom

Holdings

SOC

Ltd

7

.125

02/11/25

1,960,000‌

2,875,000

(b)

Eskom

Holdings

SOC

Ltd

6

.350

08/10/28

2,598,425‌

4,600,000

(b)

Eskom

Holdings

SOC

Ltd

8

.450

08/10/28

4,353,550‌

2,300,000

(b)

Gold

Fields

Orogen

Holdings

BVI

Ltd

6

.125

05/15/29

2,188,976‌

2,000,000

(b)

MTN

Mauritius

Investment

Ltd

6

.500

10/13/26

1,952,600‌

2,800,000

(b)

Sasol

Financing

USA

LLC

8

.750

05/03/29

2,660,000‌

2,000,000

(b)

Transnet

SOC

Ltd

8

.250

02/06/28

1,890,248‌

TOTAL

SOUTH

AFRICA

17,603,799‌

THAILAND

-

0

.4

%

2,600,000

(b)

Bangkok

Bank

PCL

3

.466

09/23/36

1,939,449‌

TOTAL

THAILAND

1,939,449‌

TRINIDAD

AND

TOBAGO

-

0

.2

%

850,000

(b)

National

Gas

Company

of

Trinidad

and

Tobago

Limited

6

.050

01/15/36

775,625‌

TOTAL

TRINIDAD

AND

TOBAGO

775,625‌

TURKEY

-

1

.3

%

2,000,000

(b)

Anadolu

Efes

Biracilik

Ve

Malt

Sanayii

AS.

3

.375

06/29/28

1,615,926‌

2,000,000

(b)

Turkiye

Garanti

Bankasi

AS.

7

.177

05/24/27

1,872,640‌

2,325,000

(b)

Ulker

Biskuvi

Sanayi

AS.

6

.950

10/30/25

2,165,505‌

TOTAL

TURKEY

5,654,071‌

UKRAINE

-

0

.3

%

2,000,000

(b)

NAK

Naftogaz

Ukraine

via

Kondor

Finance

plc

7

.625

11/08/28

969,000‌

65,625

Ukreximbank

Via

Biz

Finance

plc

9

.750

01/22/25

59,690‌

450,000

(b)

Ukreximbank

Via

Biz

Finance

plc

9

.750

01/22/25

409,367‌

TOTAL

UKRAINE

1,438,057‌

UNITED

ARAB

EMIRATES

-

1

.9

%

1,500,000

(b)

Abu

Dhabi

Crude

Oil

Pipeline

LLC

4

.600

11/02/47

1,224,411‌

1,325,000

(b)

DAE

Funding

LLC

3

.375

03/20/28

1,155,848‌

1,939,800

(b)

Galaxy

Pipeline

Assets

Bidco

Ltd

1

.750

09/30/27

1,779,065‌

1,698,880

(b)

Galaxy

Pipeline

Assets

Bidco

Ltd

2

.160

03/31/34

1,375,348‌

1,290,000

(b)

Shelf

Drilling

Holdings

Ltd

9

.625

04/15/29

1,226,497‌

Emerging

Markets

Debt

Fund

October

31,

2023

20

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UNITED

ARAB

EMIRATES—continued

$

2,423,775

(b)

Sweihan

PV

Power

Co

PJSC

3

.625

%

01/31/49

$

1,798,858‌

TOTAL

UNITED

ARAB

EMIRATES

8,560,027‌

UNITED

STATES

-

0

.3

%

1,600,000

(b)

Hyundai

Capital

America

5

.680

06/26/28

1,547,995‌

TOTAL

UNITED

STATES

1,547,995‌

TOTAL

CORPORATE

BONDS

206,547,219‌

(Cost

$249,380,933)

GOVERNMENT

BONDS

-

48

.0

%

ANGOLA

-

1

.4

%

2,250,000

(b)

Angolan

Government

International

Bond

8

.250

05/09/28

1,901,250‌

1,250,000

(b)

Angolan

Government

International

Bond

8

.000

11/26/29

995,400‌

2,850,000

(b)

Angolan

Government

International

Bond

8

.750

04/14/32

2,214,781‌

1,950,000

(b)

Angolan

Government

International

Bond

9

.375

05/08/48

1,385,221‌

TOTAL

ANGOLA

6,496,652‌

ARGENTINA

-

0

.6

%

1,300,000

Argentine

Republic

Government

International

Bond

4

.250

01/09/38

390,944‌

5,134,989

Argentine

Republic

Government

International

Bond

(Step

Bond)

3

.625

07/09/35

1,259,915‌

2,949,981

(b)

Provincia

de

Buenos

Aires

(Step

Bond)

5

.250

09/01/37

936,619‌

TOTAL

ARGENTINA

2,587,478‌

BAHRAIN

-

0

.6

%

725,000

(b)

Bahrain

Government

International

Bond

6

.750

09/20/29

698,972‌

700,000

(b)

Bahrain

Government

International

Bond

7

.375

05/14/30

691,180‌

1,500,000

(b)

Bahrain

Government

International

Bond

7

.500

09/20/47

1,252,200‌

TOTAL

BAHRAIN

2,642,352‌

BARBADOS

-

0

.4

%

2,039,800

(b)

Barbados

Government

International

Bond

6

.500

10/01/29

1,902,113‌

TOTAL

BARBADOS

1,902,113‌

BENIN

-

0

.2

%

EUR

1,125,000

(b)

Benin

Government

International

Bond

6

.875

01/19/52

777,902‌

TOTAL

BENIN

777,902‌

BERMUDA

-

0

.2

%

1,125,000

(b)

Bermuda

Government

International

Bond

2

.375

08/20/30

890,325‌

TOTAL

BERMUDA

890,325‌

BRAZIL

-

2

.1

%

BRL

5,982,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

10

.000

01/01/27

1,147,880‌

BRL

2,500,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

10

.000

01/01/29

466,979‌

BRL

7,450,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

10

.000

01/01/31

1,360,122‌

2,000,000

Brazilian

Government

International

Bond

3

.875

06/12/30

1,718,244‌

3,410,000

Brazilian

Government

International

Bond

6

.000

10/20/33

3,154,831‌

1,100,000

Brazilian

Government

International

Bond

5

.000

01/27/45

787,668‌

1,400,000

Brazilian

Government

International

Bond

4

.750

01/14/50

934,494‌

TOTAL

BRAZIL

9,570,218‌

CAMEROON

-

0

.2

%

EUR

1,000,000

(b)

Republic

of

Cameroon

International

Bond

5

.950

07/07/32

678,814‌

TOTAL

CAMEROON

678,814‌

CHILE

-

0

.2

%

CLP

405,000,000

(b)

Bonos

de

la

Tesoreria

de

la

Republica

en

pesos

5

.300

11/01/37

400,055‌

21

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CHILE—continued

$

535,000

Chile

Government

International

Bond

2

.750

%

01/31/27

$

488,849‌

TOTAL

CHILE

888,904‌

COLOMBIA

-

1

.4

%

2,000,000

Colombia

Government

International

Bond

3

.000

01/30/30

1,537,783‌

2,925,000

Colombia

Government

International

Bond

3

.250

04/22/32

2,092,621‌

500,000

Colombia

Government

International

Bond

7

.500

02/02/34

467,594‌

1,300,000

Colombia

Government

International

Bond

5

.625

02/26/44

908,485‌

950,000

Colombia

Government

International

Bond

5

.200

05/15/49

607,496‌

COP

4,300,000,000

Colombian

TES

6

.000

04/28/28

864,965‌

TOTAL

COLOMBIA

6,478,944‌

COSTA

RICA

-

0

.8

%

1,050,000

(b)

Costa

Rica

Government

International

Bond

6

.550

04/03/34

998,590‌

2,500,000

(b)

Costa

Rica

Government

International

Bond

5

.625

04/30/43

1,988,555‌

575,000

(b)

Costa

Rica

Government

International

Bond

7

.000

04/04/44

526,573‌

TOTAL

COSTA

RICA

3,513,718‌

COTE

D'IVOIRE

-

0

.6

%

2,778,030

(b)

Ivory

Coast

Government

International

Bond

(Step

Bond)

5

.750

12/31/32

2,468,280‌

TOTAL

COTE

D'IVOIRE

2,468,280‌

CZECH

REPUBLIC

-

0

.2

%

CZK

28,000,000

Czech

Republic

Government

Bond

1

.750

06/23/32

963,663‌

TOTAL

CZECH

REPUBLIC

963,663‌

DOMINICAN

REPUBLIC

-

2

.3

%

1,575,000

(b)

Dominican

Republic

Government

International

Bond

6

.875

01/29/26

1,568,915‌

DOP

27,000,000

(b)

Dominican

Republic

Government

International

Bond

11

.250

02/05/27

485,154‌

1,195,000

(b)

Dominican

Republic

Government

International

Bond

5

.500

02/22/29

1,087,510‌

DOP

74,000,000

(b)

Dominican

Republic

Government

International

Bond

10

.375

01/11/30

1,316,970‌

4,000,000

(b)

Dominican

Republic

Government

International

Bond

4

.875

09/23/32

3,232,340‌

2,535,000

(b)

Dominican

Republic

Government

International

Bond

7

.450

04/30/44

2,280,674‌

650,000

(b)

Dominican

Republic

Government

International

Bond

5

.875

01/30/60

460,842‌

TOTAL

DOMINICAN

REPUBLIC

10,432,405‌

ECUADOR

-

0

.7

%

744,229

(b)

Ecuador

Government

International

Bond

0

.000

07/31/30

220,993‌

2,234,600

(b)

Ecuador

Government

International

Bond

5

.000

07/31/30

1,130,426‌

4,637,020

(b)

Ecuador

Government

International

Bond

1

.000

07/31/35

1,755,352‌

TOTAL

ECUADOR

3,106,771‌

EGYPT

-

1

.7

%

850,000

(b)

Egypt

Government

International

Bond

5

.800

09/30/27

543,609‌

4,275,000

(b)

Egypt

Government

International

Bond

7

.600

03/01/29

2,653,587‌

3,200,000

(b)

Egypt

Government

International

Bond

7

.053

01/15/32

1,802,304‌

4,075,000

(b)

Egypt

Government

International

Bond

8

.500

01/31/47

2,109,220‌

1,000,000

(b)

Egypt

Government

International

Bond

8

.150

11/20/59

511,100‌

TOTAL

EGYPT

7,619,820‌

EL

SALVADOR

-

0

.7

%

1,600,000

(b)

El

Salvador

Government

International

Bond

7

.650

06/15/35

1,117,775‌

3,100,000

(b)

El

Salvador

Government

International

Bond

7

.625

02/01/41

2,067,391‌

TOTAL

EL

SALVADOR

3,185,166‌

GHANA

-

0

.8

%

3,325,000

(b)

Ghana

Government

International

Bond

0

.000

04/07/25

1,263,500‌

3,325,000

(b)

Ghana

Government

International

Bond

7

.750

04/07/29

1,408,969‌

2,025,000

(b)

Ghana

Government

International

Bond

8

.750

03/11/61

832,911‌

TOTAL

GHANA

3,505,380‌

Emerging

Markets

Debt

Fund

October

31,

2023

22

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

GUATEMALA

-

0

.6

%

$

525,000

(b)

Guatemala

Government

Bond

4

.900

%

06/01/30

$

467,098‌

2,000,000

(b)

Guatemala

Government

Bond

3

.700

10/07/33

1,472,096‌

1,075,000

(b)

Guatemala

Government

Bond

6

.125

06/01/50

855,296‌

TOTAL

GUATEMALA

2,794,490‌

HONDURAS

-

0

.2

%

1,200,000

(b)

Honduras

Government

International

Bond

5

.625

06/24/30

999,602‌

TOTAL

HONDURAS

999,602‌

HUNGARY

-

2

.0

%

1,900,000

(b)

Hungary

Government

International

Bond

6

.125

05/22/28

1,883,470‌

HUF

480,000,000

Hungary

Government

International

Bond

2

.000

05/23/29

1,018,565‌

1,850,000

(b)

Hungary

Government

International

Bond

5

.250

06/16/29

1,742,700‌

2,825,000

(b)

Hungary

Government

International

Bond

2

.125

09/22/31

2,034,000‌

750,000

(b)

Hungary

Government

International

Bond

3

.125

09/21/51

400,455‌

1,775,000

(b)

Magyar

Export-Import

Bank

Zrt

6

.125

12/04/27

1,736,138‌

TOTAL

HUNGARY

8,815,328‌

INDIA

-

0

.3

%

1,700,000

(b)

Export-Import

Bank

of

India

2

.250

01/13/31

1,304,295‌

TOTAL

INDIA

1,304,295‌

INDONESIA

-

0

.7

%

IDR

21,100,000,000

Indonesia

Treasury

Bond

7

.000

09/15/30

1,315,506‌

IDR

12,000,000,000

Indonesia

Treasury

Bond

7

.125

06/15/38

749,675‌

1,075,000

(b)

Perusahaan

Penerbit

SBSN

Indonesia

III

4

.700

06/06/32

995,637‌

TOTAL

INDONESIA

3,060,818‌

IRAQ

-

0

.5

%

2,292,188

(b)

Iraq

Government

International

Bond

5

.800

01/15/28

2,036,150‌

TOTAL

IRAQ

2,036,150‌

JAMAICA

-

0

.9

%

950,000

Jamaica

Government

International

Bond

6

.750

04/28/28

970,694‌

850,000

Jamaica

Government

International

Bond

8

.000

03/15/39

945,787‌

1,810,000

Jamaica

Government

International

Bond

7

.875

07/28/45

1,954,199‌

TOTAL

JAMAICA

3,870,680‌

JORDAN

-

0

.9

%

1,000,000

(b)

Jordan

Government

International

Bond

4

.950

07/07/25

930,000‌

450,000

(b)

Jordan

Government

International

Bond

7

.500

01/13/29

417,966‌

1,500,000

(b)

Jordan

Government

International

Bond

5

.850

07/07/30

1,265,940‌

2,000,000

(b),(f)

Jordan

Government

International

Bond

7

.375

10/10/47

1,508,160‌

TOTAL

JORDAN

4,122,066‌

KAZAKHSTAN

-

0

.4

%

1,750,000

(b)

Kazakhstan

Government

International

Bond

6

.500

07/21/45

1,715,000‌

TOTAL

KAZAKHSTAN

1,715,000‌

KENYA

-

0

.7

%

1,700,000

(b)

Kenya

Government

International

Bond

6

.875

06/24/24

1,623,194‌

1,125,000

(b)

Kenya

Government

International

Bond

6

.300

01/23/34

764,189‌

1,325,000

(b)

Kenya

Government

International

Bond

8

.250

02/28/48

927,500‌

TOTAL

KENYA

3,314,883‌

KOREA,

REPUBLIC

OF

-

0

.3

%

2,102,000

(f)

Export-Import

Bank

of

Korea

2

.500

06/29/41

1,345,386‌

TOTAL

KOREA,

REPUBLIC

OF

1,345,386‌

LEBANON

-

0

.1

%

3,200,000

(d)

Lebanon

Government

International

Bond

6

.250

11/04/24

198,567‌

23

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

LEBANON—continued

$

3,800,000

(d)

Lebanon

Government

International

Bond

6

.850

%

03/23/27

$

232,172‌

TOTAL

LEBANON

430,739‌

MALAYSIA

-

0

.3

%

MYR

6,500,000

Malaysia

Government

Bond

4

.762

04/07/37

1,434,067‌

TOTAL

MALAYSIA

1,434,067‌

MEXICO

-

1

.8

%

MXN

19,050,000

Mexican

Bonos

7

.500

06/03/27

966,881‌

MXN

29,900,000

Mexican

Bonos

8

.500

11/18/38

1,447,270‌

1,675,000

Mexico

Government

International

Bond

3

.250

04/16/30

1,410,357‌

525,000

Mexico

Government

International

Bond

4

.875

05/19/33

460,308‌

3,500,000

Mexico

Government

International

Bond

4

.280

08/14/41

2,501,661‌

1,850,000

Mexico

Government

International

Bond

4

.400

02/12/52

1,228,192‌

TOTAL

MEXICO

8,014,669‌

MONGOLIA

-

0

.4

%

1,900,000

(b)

Mongolia

Government

International

Bond

5

.125

04/07/26

1,767,901‌

TOTAL

MONGOLIA

1,767,901‌

MOROCCO

-

1

.0

%

450,000

(b)

Morocco

Government

International

Bond

2

.375

12/15/27

385,056‌

565,000

(b)

Morocco

Government

International

Bond

5

.950

03/08/28

552,994‌

1,775,000

(b)

Morocco

Government

International

Bond

3

.000

12/15/32

1,322,375‌

1,170,000

(b)

Morocco

Government

International

Bond

6

.500

09/08/33

1,120,837‌

1,450,000

(b)

Morocco

Government

International

Bond

5

.500

12/11/42

1,130,930‌

TOTAL

MOROCCO

4,512,192‌

NAMIBIA

-

0

.4

%

1,700,000

(b)

Namibia

Government

International

Bond

5

.250

10/29/25

1,611,022‌

TOTAL

NAMIBIA

1,611,022‌

NIGERIA

-

1

.7

%

2,075,000

(b)

Nigeria

Government

International

Bond

8

.375

03/24/29

1,816,663‌

2,850,000

(b)

Nigeria

Government

International

Bond

7

.143

02/23/30

2,287,125‌

1,550,000

(b)

Nigeria

Government

International

Bond

7

.875

02/16/32

1,240,387‌

950,000

(b)

Nigeria

Government

International

Bond

7

.375

09/28/33

713,184‌

2,000,000

(b)

Nigeria

Government

International

Bond

7

.696

02/23/38

1,422,500‌

TOTAL

NIGERIA

7,479,859‌

OMAN

-

1

.8

%

1,900,000

(b)

Oman

Government

International

Bond

5

.375

03/08/27

1,837,809‌

1,600,000

(b)

Oman

Government

International

Bond

6

.750

10/28/27

1,615,443‌

1,500,000

(b)

Oman

Government

International

Bond

6

.250

01/25/31

1,455,702‌

2,700,000

(b)

Oman

Government

International

Bond

6

.500

03/08/47

2,355,750‌

1,025,000

(b)

Oman

Government

International

Bond

6

.750

01/17/48

916,043‌

TOTAL

OMAN

8,180,747‌

PAKISTAN

-

0

.7

%

610,000

(b)

Pakistan

Global

Sukuk

Programme

Co

Ltd

7

.950

01/31/29

369,611‌

1,700,000

(b)

Pakistan

Government

International

Bond

7

.375

04/08/31

833,000‌

1,815,000

(b)

Pakistan

Government

International

Bond

8

.875

04/08/51

878,279‌

2,000,000

Pakistan

Water

&

Power

Development

Authority

7

.500

06/04/31

850,000‌

TOTAL

PAKISTAN

2,930,890‌

PANAMA

-

0

.5

%

1,500,000

Panama

Government

International

Bond

6

.400

02/14/35

1,375,357‌

1,125,000

Panama

Notas

del

Tesoro

3

.750

04/17/26

1,045,564‌

TOTAL

PANAMA

2,420,921‌

Emerging

Markets

Debt

Fund

October

31,

2023

24

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PARAGUAY

-

0

.8

%

$

3,050,000

(b)

Paraguay

Government

International

Bond

2

.739

%

01/29/33

$

2,269,105‌

1,050,000

(b)

Paraguay

Government

International

Bond

5

.600

03/13/48

809,005‌

525,000

(b)

Republic

of

Paraguay

6

.100

08/11/44

439,401‌

TOTAL

PARAGUAY

3,517,511‌

PERU

-

1

.0

%

975,000

Peruvian

Government

International

Bond

1

.862

12/01/32

686,142‌

1,995,000

Peruvian

Government

International

Bond

3

.000

01/15/34

1,508,912‌

PEN

5,950,000

(b)

Peruvian

Government

International

Bond

5

.400

08/12/34

1,291,965‌

1,800,000

Peruvian

Government

International

Bond

3

.300

03/11/41

1,190,418‌

TOTAL

PERU

4,677,437‌

PHILIPPINES

-

0

.5

%

3,050,000

Philippine

Government

International

Bond

4

.200

03/29/47

2,259,700‌

TOTAL

PHILIPPINES

2,259,700‌

POLAND

-

1

.4

%

2,830,000

(b)

Bank

Gospodarstwa

Krajowego

5

.375

05/22/33

2,628,362‌

PLN

2,215,000

Republic

of

Poland

Government

International

Bond

0

.250

10/25/26

456,615‌

PLN

5,000,000

Republic

of

Poland

Government

International

Bond

2

.750

10/25/29

1,033,369‌

600,000

Republic

of

Poland

Government

International

Bond

5

.750

11/16/32

595,176‌

500,000

Republic

of

Poland

Government

International

Bond

4

.875

10/04/33

462,882‌

1,398,000

Republic

of

Poland

Government

International

Bond

5

.500

04/04/53

1,232,057‌

TOTAL

POLAND

6,408,461‌

QATAR

-

0

.3

%

450,000

(b)

Qatar

Government

International

Bond

3

.750

04/16/30

410,625‌

925,000

(b)

Qatar

Government

International

Bond

5

.103

04/23/48

790,875‌

TOTAL

QATAR

1,201,500‌

REPUBLIC

OF

SERBIA

-

0

.8

%

750,000

(b)

Serbia

Government

International

Bond

6

.500

09/26/33

706,932‌

750,000

(b)

Serbia

International

Bond

6

.250

05/26/28

729,450‌

2,650,000

(b)

Serbia

International

Bond

2

.125

12/01/30

1,943,796‌

TOTAL

REPUBLIC

OF

SERBIA

3,380,178‌

ROMANIA

-

1

.2

%

1,870,000

(b)

Romanian

Government

International

Bond

3

.000

02/27/27

1,689,758‌

RON

4,450,000

Romanian

Government

International

Bond

4

.150

01/26/28

862,976‌

350,000

(b)

Romanian

Government

International

Bond

3

.000

02/14/31

276,945‌

RON

3,600,000

Romanian

Government

International

Bond

3

.650

09/24/31

616,209‌

1,160,000

(b)

Romanian

Government

International

Bond

7

.125

01/17/33

1,153,564‌

1,400,000

(b)

Romanian

Government

International

Bond

4

.000

02/14/51

858,559‌

TOTAL

ROMANIA

5,458,011‌

RWANDA

-

0

.5

%

3,075,000

(b)

Rwanda

International

Government

Bond

5

.500

08/09/31

2,325,549‌

TOTAL

RWANDA

2,325,549‌

SAUDI

ARABIA

-

0

.9

%

750,000

(b)

Saudi

Government

International

Bond

3

.250

10/26/26

701,625‌

500,000

(b)

Saudi

Government

International

Bond

4

.750

01/18/28

483,750‌

1,000,000

(b)

Saudi

Government

International

Bond

3

.250

11/17/51

580,000‌

2,000,000

(b)

Saudi

Government

International

Bond

3

.750

01/21/55

1,264,600‌

1,500,000

(b)

Saudi

Government

International

Bond

3

.450

02/02/61

869,628‌

TOTAL

SAUDI

ARABIA

3,899,603‌

SENEGAL

-

0

.7

%

1,000,000

(b)

Senegal

Government

International

Bond

6

.250

05/23/33

787,740‌

25

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SENEGAL—continued

$

3,300,000

(b)

Senegal

Government

International

Bond

6

.750

%

03/13/48

$

2,184,191‌

TOTAL

SENEGAL

2,971,931‌

SOUTH

AFRICA

-

2

.0

%

1,875,000

Republic

of

South

Africa

Government

International

Bond

4

.300

10/12/28

1,615,313‌

ZAR

54,025,000

Republic

of

South

Africa

Government

International

Bond

7

.000

02/28/31

2,292,022‌

1,400,000

Republic

of

South

Africa

Government

International

Bond

5

.875

04/20/32

1,180,998‌

ZAR

9,050,000

Republic

of

South

Africa

Government

International

Bond

8

.875

02/28/35

385,794‌

1,250,000

Republic

of

South

Africa

Government

International

Bond

5

.375

07/24/44

821,425‌

2,075,000

Republic

of

South

Africa

Government

International

Bond

5

.650

09/27/47

1,347,173‌

775,000

Republic

of

South

Africa

Government

International

Bond

5

.750

09/30/49

502,719‌

1,000,000

Republic

of

South

Africa

Government

International

Bond

7

.300

04/20/52

777,670‌

TOTAL

SOUTH

AFRICA

8,923,114‌

SRI

LANKA

-

0

.4

%

800,000

(b)

Sri

Lanka

Government

International

Bond

5

.750

04/18/24

414,426‌

1,400,000

(b)

Sri

Lanka

Government

International

Bond

6

.750

04/18/28

695,609‌

1,650,000

(b)

Sri

Lanka

Government

International

Bond

7

.550

03/28/30

820,273‌

TOTAL

SRI

LANKA

1,930,308‌

SUPRANATIONAL

-

0

.3

%

INR

57,100,000

Asian

Infrastructure

Investment

Bank

6

.000

12/08/31

623,562‌

1,200,000

(b)

Banque

Ouest

Africaine

de

Developpement

4

.700

10/22/31

942,972‌

TOTAL

SUPRANATIONAL

1,566,534‌

THAILAND

-

0

.3

%

THB

47,000,000

Thailand

Government

International

Bond

2

.875

12/17/28

1,307,108‌

TOTAL

THAILAND

1,307,108‌

TURKEY

-

1

.8

%

2,325,000

Turkey

Government

International

Bond

5

.125

02/17/28

2,060,554‌

1,500,000

Turkey

Government

International

Bond

6

.500

09/20/33

1,256,160‌

1,300,000

Turkey

Government

International

Bond

6

.000

01/14/41

924,690‌

4,350,000

Turkey

Government

International

Bond

4

.875

04/16/43

2,642,973‌

1,500,000

(b)

Turkiye

Ihracat

Kredi

Bankasi

AS.

5

.750

07/06/26

1,398,480‌

TOTAL

TURKEY

8,282,857‌

UGANDA

-

0

.3

%

UGX

4,810,000,000

Republic

of

Uganda

Government

Bonds

14

.250

08/23/29

1,244,720‌

TOTAL

UGANDA

1,244,720‌

UKRAINE

-

0

.8

%

2,225,000

(b)

NPC

Ukrenergo

6

.875

11/09/28

595,187‌

UAH

37,000,000

Ukraine

Government

International

Bond

15

.840

02/26/25

801,268‌

1,925,000

(b)

Ukraine

Government

International

Bond

7

.750

09/01/27

540,194‌

3,000,000

(b)

Ukraine

Government

International

Bond

7

.253

03/15/35

753,750‌

2,320,000

(a),(b)

Ukraine

Government

International

Bond

7

.750

08/01/41

961,640‌

TOTAL

UKRAINE

3,652,039‌

UNITED

ARAB

EMIRATES

-

0

.4

%

400,000

(b)

Abu

Dhabi

Government

International

Bond

3

.125

09/30/49

244,720‌

2,600,000

Emirate

of

Dubai

Government

International

Bonds

3

.900

09/09/50

1,677,104‌

TOTAL

UNITED

ARAB

EMIRATES

1,921,824‌

Emerging

Markets

Debt

Fund

October

31,

2023

26

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

URUGUAY

-

0

.4

%

UYU

39,650,000

Uruguay

Government

International

Bond

8

.250

%

05/21/31

$

901,326‌

UYU

18,940,950

Uruguay

Government

International

Bond

9

.750

07/20/33

469,422‌

$

600,000

Uruguay

Government

International

Bond

5

.750

10/28/34

600,412‌

TOTAL

URUGUAY

1,971,160‌

UZBEKISTAN

-

0

.7

%

UZS

5,708,925,000

(b)

Republic

of

Uzbekistan

International

Bond

14

.000

07/19/24

462,691‌

745,000

(b),(h)

Republic

of

Uzbekistan

International

Bond

7

.850

10/12/28

739,850‌

1,700,000

(b)

Republic

of

Uzbekistan

International

Bond

5

.375

02/20/29

1,508,750‌

550,000

(b)

Republic

of

Uzbekistan

International

Bond

3

.700

11/25/30

418,233‌

TOTAL

UZBEKISTAN

3,129,524‌

VIETNAM

-

0

.6

%

2,575,000

(b)

Vietnam

Government

International

Bond

4

.800

11/19/24

2,524,015‌

TOTAL

VIETNAM

2,524,015‌

ZAMBIA

-

0

.6

%

3,900,000

(b)

Zambia

Government

International

Bond

8

.500

04/14/24

2,383,875‌

750,000

(b)

Zambia

Government

International

Bond

8

.970

07/30/27

456,562‌

TOTAL

ZAMBIA

2,840,437‌

TOTAL

GOVERNMENT

BONDS

215,264,131‌

(Cost

$279,493,319)

STRUCTURED

ASSETS

-

0

.5

%

CAYMAN

ISLANDS

-

0

.5

%

3,000,000

(b),(g)

Industrial

DPR

Funding

Ltd

5

.380

04/15/34

2,461,590‌

Series

-

2022

1A

(Class

1)

TOTAL

CAYMAN

ISLANDS

2,461,590‌

TOTAL

STRUCTURED

ASSETS

2,461,590‌

(Cost

$3,000,000)

SHARES

REFERENCERATE

&

SPREAD

COMMON

STOCKS

-

0.9%

MEXICO

-

0

.8

%

265,589

(i)

Grupo

Aeromexico

SAB

de

C.V.

3,517,077‌

TOTAL

MEXICO

3,517,077‌

SOUTH

AFRICA

-

0

.1

%

729,619

(i)

Petra

Diamonds

Ltd

395,289‌

TOTAL

SOUTH

AFRICA

395,289‌

TOTAL

COMMON

STOCKS

3,912,366‌

(Cost

$5,678,180)

TOTAL

LONG-TERM

INVESTMENTS

430,012,536‌

(Cost

$539,380,438)

PRINCIPAL

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

2.7%

REPURCHASE

AGREEMENT

-

2

.0

%

8,667,000

(j)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

8,667,000‌

TOTAL

REPURCHASE

AGREEMENT

8,667,000‌

TREASURY

DEBT

-

0

.7

%

KZT

620,000,000

Kazakhstan

Treasury

Bill-MEKKAM

0

.000

01/20/24

1,275,813‌

27

See

Notes

to

Financial

Statements

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

PRINCIPAL

DESCRIPTION

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TREASURY

DEBT—continued

$

2,000,000

United

States

Treasury

Bill

0

.000

%

11/02/23

$

1,999,708‌

TOTAL

TREASURY

DEBT

3,275,521‌

TOTAL

SHORT-TERM

INVESTMENTS

11,942,521‌

(Cost

$11,983,294)

SHARES

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

1.2%

5,509,039

(k)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

5,509,039‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

5,509,039‌

(Cost

$5,509,039)

TOTAL

INVESTMENTS

-

99.7%

447,464,096‌

(Cost

$556,872,771)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.3%

1,465,462‌

NET

ASSETS

-

100.0%

$

448,929,558‌

BRL

Brazilian

Real

CLP

Chilean

Peso

COP

Colombia

Peso

CZK

Czech

Republic

Koruna

DOP

Dominican

Republic

Peso

EUR

Euro

HUF

Hungary

Forint

IDR

Indonesian

Rupiah

INR

Indian

Rupee

KZT

Kazakhstani

Tenge

M

Month

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

PEN

Peruvian

Sol

PLN

Polish

Zloty

RON

Romanian

Leu

RUB

Russian

Ruble

SOFR

Secure

Overnight

Financing

Rate

THB

Thai

Baht

UAH

Ukrainian

Hryvnia

UGX

Ugandan

Shilling

UYU

Uruguayan

Peso

UZS

Uzbekistani

Som

ZAR

South

African

Rand

(a)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(b)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(c)

Perpetual

security

(d)

In

default

(e)

Payment

in

Kind

Bond

(f)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$6,353,171.

(g)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(h)

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

(i)

Non-income

producing

(j)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$8,667,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$8,840,367.

(k)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

Emerging

Markets

Debt

Fund

October

31,

2023

28

See

Notes

to

Financial

Statements

Portfolio

of

Investments

(continued)

Forward

Foreign

Currency

Contracts

Currency

Purchased

Receive

Currency

Sold

Deliver

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

$

5,020,966

EUR

4,715,619

Morgan

Stanley

01/16/24

  $

12,764‌

EUR

Euro

Consolidated

Portfolio

of

Investments

International

Bond

Fund

October

31,

2023

29

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

LONG-TERM

INVESTMENTS

-

93.7%

BANK

LOAN

OBLIGATIONS

-

0.3%

IRELAND

-

0

.2

%

$

260,433

(a)

Avolon

TLB

Borrower  US

LLC

SOFR

12

M

+

2.500%

7

.839

%

06/22/28

$

260,796‌

337,750

(a)

Avolon

TLB

Borrower

US

LLC

SOFR

12

M

+

1.500%

6

.939

02/12/27

337,730‌

TOTAL

IRELAND

598,526‌

UNITED

STATES

-

0

.1

%

215,717

(a)

Jazz

Financing

Lux

Sarl

CME

Term

SOFR

12

+

3.500%

8

.939

05/05/28

215,895‌

244,399

(a)

Phoenix

Newco,

Inc

CME

Term

SOFR

12

+

3.250%

8

.689

11/15/28

241,818‌

126,734

(a)

Team

Health

Holdings,

Inc

CME

Term

SOFR

4

+

5.250%

10

.633

03/02/27

91,600‌

TOTAL

UNITED

STATES

549,313‌

TOTAL

BANK

LOAN

OBLIGATIONS

1,147,839‌

(Cost

$1,188,498)

CORPORATE

BONDS

-

21

.3

%

AUSTRALIA

-

0

.1

%

250,000

AngloGold

Ashanti

Holdings

plc

3

.750

10/01/30

196,837‌

TOTAL

AUSTRALIA

196,837‌

AUSTRIA

-

0

.1

%

EUR

600,000

Erste

Group

Bank

AG.

4

.250

N/A(b)

499,070‌

TOTAL

AUSTRIA

499,070‌

BELGIUM

-

0

.1

%

EUR

800,000

(c)

Proximus

SADP

0

.750

11/17/36

543,826‌

TOTAL

BELGIUM

543,826‌

BRAZIL

-

0

.1

%

300,000

(d)

Suzano

Austria

GmbH

3

.125

01/15/32

226,091‌

TOTAL

BRAZIL

226,091‌

CANADA

-

0

.7

%

EUR

250,000

(e)

Fairfax

Financial

Holdings

Ltd

2

.750

03/29/28

243,339‌

500,000

(e)

GFL

Environmental,

Inc

4

.250

06/01/25

480,629‌

1,275,000

(e)

MEG

Energy

Corp

5

.875

02/01/29

1,191,467‌

500,000

(e)

Nova

Chemicals

Corp

4

.875

06/01/24

491,362‌

315,000

(d),(e)

Parkland

Corp

4

.625

05/01/30

268,537‌

TOTAL

CANADA

2,675,334‌

CHILE

-

0

.3

%

397,504

(e)

Alfa

Desarrollo

S.p.A

4

.550

09/27/51

258,170‌

300,000

Celulosa

Arauco

y

Constitucion

S.A.

3

.875

11/02/27

268,030‌

200,000

(e)

Cia

Cervecerias

Unidas

S.A.

3

.350

01/19/32

161,337‌

200,000

(e)

Corp

Nacional

del

Cobre

de

Chile

3

.625

08/01/27

182,282‌

325,000

(e)

Empresa

Nacional

de

Telecomunicaciones

S.A.

3

.050

09/14/32

233,967‌

TOTAL

CHILE

1,103,786‌

CHINA

-

0

.1

%

300,000

(e)

ENN

Clean

Energy

International

Investment

Ltd

3

.375

05/12/26

274,981‌

TOTAL

CHINA

274,981‌

COLOMBIA

-

0

.1

%

75,000

Ecopetrol

S.A.

6

.875

04/29/30

67,532‌

International

Bond

Fund

October

31,

2023

30

See

Notes

to

Financial

Statements

Consolidated

Portfolio

of

Investments

(continued)

Consolidated

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

COLOMBIA—continued

$

225,000

Ecopetrol

S.A.

4

.625

%

11/02/31

$

168,814‌

TOTAL

COLOMBIA

236,346‌

CZECH

REPUBLIC

-

0

.0

%

EUR

300,000

(c)

CPI

Property

Group

S.A.

1

.750

01/14/30

184,854‌

TOTAL

CZECH

REPUBLIC

184,854‌

DENMARK

-

0

.3

%

GBP

500,000

Danske

Bank

A.S.

2

.250

01/14/28

531,475‌

EUR

500,000

(c)

Sartorius

Finance

BV

4

.375

09/14/29

524,438‌

TOTAL

DENMARK

1,055,913‌

FRANCE

-

1

.9

%

EUR

500,000

AXA

S.A.

1

.375

10/07/41

400,922‌

GBP

300,000

(c)

Banque

Federative

du

Credit

Mutuel

S.A.

4

.875

09/25/25

357,994‌

EUR

500,000

(c)

BNP

Paribas

S.A.

2

.100

04/07/32

434,734‌

500,000

(d),(e)

BNP

Paribas

S.A.

8

.500

N/A(b)

479,094‌

EUR

800,000

BPCE

S.A.

0

.500

09/15/27

756,164‌

EUR

500,000

Credit

Agricole

Assurances

S.A.

1

.500

10/06/31

393,575‌

EUR

400,000

Electricite

de

France

S.A.

2

.000

10/02/30

367,373‌

EUR

400,000

(c)

Engie

S.A.

4

.500

09/06/42

399,400‌

EUR

500,000

(e)

Iliad

Holding

SAS

5

.125

10/15/26

511,883‌

EUR

500,000

(c)

Kering

S.A.

3

.750

09/05/25

528,978‌

EUR

300,000

(c)

La

Poste

S.A.

0

.625

01/18/36

209,666‌

EUR

200,000

(c)

RTE

Reseau

de

Transport

d'Electricite

SADIR

3

.750

07/04/35

201,861‌

EUR

400,000

(c)

Societe

Generale

S.A.

4

.000

11/16/27

419,690‌

EUR

500,000

(c)

Societe

Generale

S.A.

0

.500

06/12/29

435,519‌

EUR

600,000

(c)

Suez

SACA

2

.375

05/24/30

559,946‌

EUR

600,000

(c)

Thales

S.A.

3

.625

06/14/29

617,477‌

TOTAL

FRANCE

7,074,276‌

GERMANY

-

1

.3

%

EUR

400,000

(c)

Deutsche

Boerse

AG.

3

.875

09/28/33

417,372‌

EUR

750,000

(e),(f)

IHO

Verwaltungs

GmbH

3

.750

09/15/26

745,285‌

EUR

2,225,000

(g)

Kreditanstalt

fuer

Wiederaufbau

0

.000

01/10/31

1,864,019‌

EUR

400,000

(g)

RWE

AG.

2

.750

05/24/30

386,245‌

EUR

500,000

(c)

Volkswagen

International

Finance

NV

4

.125

11/15/25

528,011‌

GBP

500,000

Volkswagen

International

Finance

NV

3

.375

11/16/26

561,061‌

EUR

400,000

Vonovia

SE

0

.625

12/14/29

323,669‌

150,000

(e)

ZF

North

America

Capital,

Inc

6

.875

04/14/28

145,357‌

TOTAL

GERMANY

4,971,019‌

INDIA

-

0

.2

%

300,000

(e)

Adani

Electricity

Mumbai

Ltd

3

.867

07/22/31

198,664‌

200,000

(e)

Bharti

Airtel

Ltd

3

.250

06/03/31

161,284‌

200,000

(e)

CA

Magnum

Holdings

5

.375

10/31/26

174,847‌

250,000

(c)

Power

Finance

Corp

Ltd

3

.350

05/16/31

200,413‌

225,000

(e)

UltraTech

Cement

Ltd

2

.800

02/16/31

174,090‌

TOTAL

INDIA

909,298‌

INDONESIA

-

0

.1

%

200,000

(e)

Pertamina

Persero

PT

3

.650

07/30/29

177,308‌

225,000

(e)

Perusahaan

Listrik

Negara

PT

4

.875

07/17/49

160,157‌

TOTAL

INDONESIA

337,465‌

IRELAND

-

0

.4

%

EUR

500,000

(g)

AIB

Group

plc

4

.625

07/23/29

519,509‌

EUR

600,000

(c)

Bank

of

Ireland

Group

plc

0

.375

05/10/27

571,299‌

EUR

320,000

(c)

Bank

of

Ireland

Group

plc

5

.000

07/04/31

337,650‌

TOTAL

IRELAND

1,428,458‌

31

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ISRAEL

-

0

.2

%

$

270,000

(e)

Bank

Hapoalim

BM

3

.255

%

01/21/32

$

219,029‌

300,000

(e)

Bank

Leumi

Le-Israel

BM

3

.275

01/29/31

256,131‌

400,000

(e)

Israel

Electric

Corp

Ltd

4

.250

08/14/28

350,000‌

TOTAL

ISRAEL

825,160‌

ITALY

-

0

.5

%

EUR

500,000

(g)

Intesa

Sanpaolo

S.p.A

4

.875

05/19/30

524,198‌

EUR

500,000

(g)

Intesa

Sanpaolo

S.p.A

5

.125

08/29/31

525,933‌

200,000

(d),(e)

Intesa

Sanpaolo

S.p.A

4

.198

06/01/32

142,158‌

500,000

UniCredit

SpA

8

.000

N/A(b)

492,500‌

TOTAL

ITALY

1,684,789‌

JAPAN

-

0

.5

%

EUR

550,000

(c)

Mitsubishi

UFJ

Financial

Group,

Inc

2

.264

06/14/25

574,026‌

EUR

500,000

(c)

ORIX

Corp

1

.919

04/20/26

500,038‌

EUR

500,000

Takeda

Pharmaceutical

Co

Ltd

1

.375

07/09/32

417,498‌

EUR

500,000

Takeda

Pharmaceutical

Co

Ltd

2

.000

07/09/40

366,559‌

TOTAL

JAPAN

1,858,121‌

KAZAKHSTAN

-

0

.1

%

200,000

(d),(e)

KazTransGas

JSC

4

.375

09/26/27

182,292‌

200,000

(e)

Tengizchevroil

Finance

Co

International

Ltd

2

.625

08/15/25

179,688‌

TOTAL

KAZAKHSTAN

361,980‌

KOREA,

REPUBLIC

OF

-

0

.1

%

250,000

(e)

Kia

Corp

2

.750

02/14/27

225,025‌

TOTAL

KOREA,

REPUBLIC

OF

225,025‌

KUWAIT

-

0

.1

%

375,000

(e)

NBK

SPC

Ltd

1

.625

09/15/27

330,245‌

TOTAL

KUWAIT

330,245‌

LUXEMBOURG

-

0

.5

%

EUR

1,000,000

(e)

Albion

Financing

1

SARL

5

.250

10/15/26

999,905‌

EUR

250,000

(c)

Czech

Gas

Networks

Investments

Sarl

0

.450

09/08/29

203,719‌

EUR

400,000

(c)

ProLogis

International

Funding

II

S.A.

3

.625

03/07/30

389,432‌

EUR

500,000

(c)

ProLogis

International

Funding

II

S.A.

2

.375

11/14/30

445,146‌

TOTAL

LUXEMBOURG

2,038,202‌

MEXICO

-

0

.2

%

375,000

(e)

Becle

SAB

de

C.V.

2

.500

10/14/31

274,501‌

375,000

(e)

Orbia

Advance

Corp

SAB

de

C.V.

1

.875

05/11/26

333,420‌

200,000

(e)

Sigma

Alimentos

S.A.

de

C.V.

4

.125

05/02/26

188,379‌

TOTAL

MEXICO

796,300‌

NETHERLANDS

-

0

.5

%

EUR

400,000

(g)

Cooperatieve

Rabobank

UA

4

.233

04/25/29

419,729‌

EUR

500,000

ING

Groep

NV

1

.250

02/16/27

491,628‌

EUR

1,300,000

(e)

VZ

Secured

Financing

BV

3

.500

01/15/32

1,042,014‌

TOTAL

NETHERLANDS

1,953,371‌

NIGERIA

-

0

.2

%

EUR

1,000,000

(e)

BOI

Finance

BV

7

.500

02/16/27

892,984‌

TOTAL

NIGERIA

892,984‌

NORWAY

-

0

.0

%

EUR

100,000

(g)

Statnett

SF

3

.500

06/08/33

102,243‌

TOTAL

NORWAY

102,243‌

POLAND

-

0

.2

%

EUR

150,000

(c)

GTC

Aurora

Luxembourg

S.A.

2

.250

06/23/26

103,539‌

International

Bond

Fund

October

31,

2023

32

See

Notes

to

Financial

Statements

Consolidated

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

POLAND—continued

EUR

300,000

(c)

mBank

S.A.

0

.966

%

09/21/27

$

258,381‌

EUR

250,000

(c)

Polski

Koncern

Naftowy

ORLEN

S.A.

1

.125

05/27/28

226,647‌

TOTAL

POLAND

588,567‌

PORTUGAL

-

0

.2

%

GBP

200,000

(g)

EDP

Finance

BV

8

.625

01/04/24

244,045‌

EUR

500,000

(c)

EDP

Servicios

Financieros

Espana

SAU

4

.125

04/04/29

526,205‌

TOTAL

PORTUGAL

770,250‌

QATAR

-

0

.6

%

CNY

16,000,000

QNB

Finance

Ltd

3

.150

02/04/26

2,137,167‌

TOTAL

QATAR

2,137,167‌

ROMANIA

-

0

.1

%

EUR

250,000

(c)

NE

Property

BV

2

.000

01/20/30

193,039‌

TOTAL

ROMANIA

193,039‌

SINGAPORE

-

0

.2

%

EUR

200,000

(c)

Temasek

Financial

I

Ltd

0

.500

11/20/31

162,920‌

$

500,000

(e)

United

Overseas

Bank

Ltd

2

.000

10/14/31

443,438‌

TOTAL

SINGAPORE

606,358‌

SOUTH

AFRICA

-

0

.3

%

1,250,000

(c)

Eskom

Holdings

SOC

Ltd

4

.314

07/23/27

1,093,750‌

TOTAL

SOUTH

AFRICA

1,093,750‌

SUPRANATIONAL

-

1

.1

%

CNY

31,000,000

International

Bank

for

Reconstruction

&

Development

3

.050

03/16/24

4,234,378‌

TOTAL

SUPRANATIONAL

4,234,378‌

SWITZERLAND

-

0

.3

%

EUR

750,000

(c)

Cloverie

plc

for

Zurich

Insurance

Co

Ltd

1

.500

12/15/28

709,228‌

EUR

600,000

(c)

UBS

Group

AG

0

.250

11/05/28

530,187‌

TOTAL

SWITZERLAND

1,239,415‌

THAILAND

-

0

.1

%

430,000

(e)

Bangkok

Bank

PCL

3

.466

09/23/36

320,755‌

300,000

(e)

Thaioil

Treasury

Center

Co

Ltd

2

.500

06/18/30

233,028‌

TOTAL

THAILAND

553,783‌

UNITED

ARAB

EMIRATES

-

0

.1

%

290,853

(e)

Sweihan

PV

Power

Co

PJSC

3

.625

01/31/49

215,863‌

TOTAL

UNITED

ARAB

EMIRATES

215,863‌

UNITED

KINGDOM

-

1

.6

%

EUR

500,000

(g)

AstraZeneca

plc

3

.750

03/03/32

522,481‌

EUR

800,000

(c)

Barclays

plc

0

.877

01/28/28

746,931‌

GBP

400,000

(c)

Barclays

plc

7

.090

11/06/29

487,526‌

GBP

200,000

(c)

Barclays

plc

8

.407

11/14/32

247,568‌

EUR

500,000

BP

Capital

Markets

plc

1

.231

05/08/31

428,080‌

UGX

3,000,000,000

(e),(h)

ICBC

Standard

Bank

plc

14

.250

06/26/34

716,177‌

EUR

400,000

National

Grid

Electricity

Distribution

East

Midlands

plc

3

.530

09/20/28

410,611‌

EUR

750,000

Natwest

Group

plc

1

.750

03/02/26

762,583‌

GBP

300,000

(g)

NatWest

Markets

plc

6

.625

06/22/26

369,951‌

EUR

700,000

(c)

Standard

Chartered

plc

1

.200

09/23/31

638,684‌

GBP

600,000

(e)

Vmed

O2

UK

Financing

I

plc

4

.500

07/15/31

567,901‌

TOTAL

UNITED

KINGDOM

5,898,493‌

UNITED

STATES

-

7

.8

%

EUR

1,200,000

AbbVie,

Inc

1

.250

06/01/24

1,248,313‌

JPY

100,000,000

Aflac,

Inc

0

.550

03/12/30

610,671‌

33

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UNITED

STATES—continued

EUR

250,000

(e)

Allied

Universal

Holdco

LLC

3

.625

%

06/01/28

$

212,698‌

EUR

575,000

American

Honda

Finance

Corp

1

.950

10/18/24

596,033‌

EUR

500,000

American

Medical

Systems

Europe

BV

1

.625

03/08/31

449,344‌

EUR

450,000

American

Tower

Corp

0

.450

01/15/27

419,622‌

EUR

300,000

Aptiv

plc

1

.500

03/10/25

305,951‌

EUR

250,000

(e)

Ardagh

Metal

Packaging

Finance

USA

LLC

2

.000

09/01/28

217,151‌

EUR

250,000

(e)

Ardagh

Metal

Packaging

Finance

USA

LLC

3

.000

09/01/29

194,259‌

GBP

500,000

AT&T,

Inc

2

.900

12/04/26

557,132‌

EUR

500,000

AT&T,

Inc

2

.350

09/05/29

478,610‌

EUR

500,000

(e)

Avantor

Funding,

Inc

3

.875

07/15/28

482,255‌

EUR

500,000

(c)

Bank

of

America

Corp

1

.662

04/25/28

482,912‌

EUR

500,000

(c)

Bank

of

America

Corp

2

.824

04/27/33

461,351‌

EUR

600,000

(c)

Blackstone

Private

Credit

Fund

1

.750

11/30/26

548,745‌

EUR

700,000

Capital

One

Financial

Corp

0

.800

06/12/24

721,897‌

EUR

400,000

Celanese

US

Holdings

LLC

0

.625

09/10/28

337,541‌

EUR

750,000

Chubb

INA

Holdings,

Inc

1

.550

03/15/28

715,700‌

EUR

350,000

Chubb

INA

Holdings,

Inc

1

.400

06/15/31

301,408‌

EUR

500,000

Citigroup,

Inc

1

.250

07/06/26

501,298‌

EUR

700,000

Comcast

Corp

0

.250

05/20/27

651,098‌

EUR

750,000

(e)

Coty,

Inc

3

.875

04/15/26

770,585‌

EUR

500,000

(e)

Dana

Financing

Luxembourg

Sarl

3

.000

07/15/29

416,733‌

GBP

200,000

Discovery

Communications

LLC

2

.500

09/20/24

235,524‌

EUR

800,000

Dow

Chemical

Co

0

.500

03/15/27

750,783‌

EUR

500,000

(e)

Emerald

Debt

Merger

Sub

LLC

6

.375

12/15/30

520,710‌

EUR

500,000

Equinix,

Inc

1

.000

03/15/33

391,054‌

EUR

500,000

FedEx

Corp

1

.625

01/11/27

489,639‌

EUR

375,000

Fidelity

National

Information

Services,

Inc

1

.100

07/15/24

388,515‌

EUR

750,000

(c)

General

Motors

Financial

Co,

Inc

0

.600

05/20/27

694,723‌

EUR

500,000

(a),(c)

Goldman

Sachs

Group,

Inc

EURIBOR

3

M

+

1.000%

4

.722

02/07/25

530,018‌

EUR

500,000

(c)

Goldman

Sachs

Group,

Inc

0

.250

01/26/28

449,191‌

EUR

295,000

(e)

Goodyear

Europe

BV

2

.750

08/15/28

261,183‌

EUR

500,000

Highland

Holdings

Sarl

0

.318

12/15/26

469,852‌

EUR

1,000,000

Honeywell

International,

Inc

0

.000

03/10/24

1,042,205‌

EUR

600,000

International

Business

Machines

Corp

0

.650

02/11/32

482,106‌

EUR

250,000

(e)

IQVIA,

Inc

1

.750

03/15/26

247,373‌

EUR

800,000

(c)

Liberty

Mutual

Group,

Inc

4

.625

12/02/30

813,718‌

GBP

600,000

McKesson

Corp

3

.125

02/17/29

643,277‌

EUR

400,000

(c)

Metropolitan

Life

Global

Funding

I

1

.750

05/25/25

408,492‌

GBP

600,000

(c)

Metropolitan

Life

Global

Funding

I

4

.125

09/02/25

709,674‌

EUR

600,000

(c)

Mondelez

International

Holdings

Netherlands

BV

1

.250

09/09/41

383,320‌

EUR

670,000

Morgan

Stanley

1

.342

10/23/26

668,646‌

GBP

400,000

(c)

Nestle

Holdings,

Inc

5

.250

09/21/26

486,481‌

EUR

250,000

(e)

OI

European

Group

BV

6

.250

05/15/28

261,219‌

EUR

500,000

(e)

Olympus

Water

US

Holding

Corp

3

.875

10/01/28

432,246‌

EUR

100,000

(e)

Organon

Finance   LLC

2

.875

04/30/28

91,314‌

$

750,000

(e)

Organon

Finance   LLC

5

.125

04/30/31

585,688‌

GBP

500,000

(c)

Protective

Life

Global

Funding

5

.248

01/13/28

594,688‌

EUR

500,000

Raytheon

Technologies

Corp

2

.150

05/18/30

451,314‌

EUR

400,000

Southern

Co

1

.875

09/15/81

336,443‌

EUR

450,000

Stryker

Corp

2

.625

11/30/30

435,142‌

EUR

700,000

The

Procter

&

Gamble

Company

0

.625

10/30/24

716,588‌

EUR

500,000

The

Procter

&

Gamble

Company

1

.875

10/30/38

408,895‌

EUR

1,100,000

Thermo

Fisher

Scientific

Finance

I

BV

0

.800

10/18/30

944,886‌

GBP

600,000

Time

Warner

Cable

LLC

5

.750

06/02/31

675,292‌

EUR

400,000

Verizon

Communications,

Inc

1

.875

10/26/29

374,956‌

TOTAL

UNITED

STATES

29,056,462‌

TOTAL

CORPORATE

BONDS

79,373,499‌

(Cost

$92,813,407)

International

Bond

Fund

October

31,

2023

34

See

Notes

to

Financial

Statements

Consolidated

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

GOVERNMENT

BONDS

-

66

.4

%

ANGOLA

-

0

.3

%

$

1,550,000

(e)

Angolan

Government

International

Bond

8

.750

%

04/14/32

$

1,204,530‌

TOTAL

ANGOLA

1,204,530‌

AUSTRALIA

-

2

.2

%

AUD

2,050,000

Australia

Government

Bond

0

.250

11/21/25

1,193,007‌

AUD

3,765,000

(c)

Australia

Government

Bond

2

.250

05/21/28

2,165,868‌

AUD

1,950,000

Australia

Government

Bond

1

.000

12/21/30

954,224‌

AUD

2,600,000

Australia

Government

Bond

1

.250

05/21/32

1,234,538‌

AUD

1,650,000

Australia

Government

Bond

3

.000

11/21/33

883,069‌

AUD

2,550,000

(c)

Australia

Government

Bond

1

.750

06/21/51

786,378‌

AUD

1,685,000

New

South

Wales

Treasury

Corp

3

.000

04/20/29

966,651‌

TOTAL

AUSTRALIA

8,183,735‌

BELGIUM

-

2

.4

%

EUR

2,125,000

(e)

Kingdom

of

Belgium

Government

Bond

0

.000

10/22/27

1,998,524‌

EUR

3,825,000

(e)

Kingdom

of

Belgium

Government

Bond

0

.350

06/22/32

3,139,205‌

EUR

285,000

Kingdom

of

Belgium

Government

Bond

0

.000

06/22/34

286,968‌

EUR

525,000

(e)

Kingdom

of

Belgium

Government

Bond

1

.450

06/22/37

420,386‌

EUR

5,150,000

(e)

Kingdom

of

Belgium

Government

Bond

0

.400

06/22/40

3,141,215‌

TOTAL

BELGIUM

8,986,298‌

BENIN

-

0

.2

%

EUR

1,275,000

(e)

Benin

Government

International

Bond

4

.950

01/22/35

912,300‌

TOTAL

BENIN

912,300‌

BRAZIL

-

0

.3

%

BRL

5,500,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

10

.000

01/01/27

1,055,389‌

TOTAL

BRAZIL

1,055,389‌

CAMEROON

-

0

.1

%

EUR

650,000

(e)

Republic

of

Cameroon

International

Bond

5

.950

07/07/32

441,229‌

TOTAL

CAMEROON

441,229‌

CANADA

-

3

.3

%

CAD

3,050,000

(e)

Canada

Housing

Trust

No

1

.100

12/15/26

1,981,076‌

CAD

3,075,000

(e)

Canada

Housing

Trust

No

3

.550

09/15/32

2,054,058‌

CAD

1,825,000

Canadian

Government

International

Bond

3

.500

08/01/25

1,289,114‌

CAD

2,625,000

Canadian

Government

International

Bond

2

.000

06/01/28

1,730,654‌

CAD

2,275,000

Canadian

Government

International

Bond

2

.000

06/01/32

1,393,201‌

CAD

1,300,000

Canadian

Government

International

Bond

5

.000

06/01/37

1,023,538‌

CAD

1,350,000

Hydro-Quebec

4

.000

02/15/55

843,654‌

CAD

1,300,000

Province

of

Ontario

Canada

2

.150

06/02/31

784,612‌

CAD

1,100,000

Province

of

Ontario

Canada

1

.900

12/02/51

439,857‌

CAD

1,000,000

Province

of

Quebec

Canada

2

.750

09/01/27

676,849‌

TOTAL

CANADA

12,216,613‌

CHINA

-

9

.4

%

CNY

73,060,000

China

Government

Bond

2

.880

11/05/23

9,984,965‌

CNY

19,300,000

China

Government

Bond

2

.940

10/17/24

2,656,180‌

CNY

60,500,000

China

Government

Bond

3

.120

12/05/26

8,454,038‌

CNY

6,750,000

China

Government

Bond

2

.500

07/25/27

921,730‌

CNY

14,900,000

China

Government

Bond

2

.910

10/14/28

2,066,618‌

CNY

14,300,000

China

Government

Bond

2

.670

05/25/33

1,946,265‌

CNY

18,900,000

China

Government

Bond

3

.860

07/22/49

2,927,849‌

CNY

15,000,000

China

Government

Bond

3

.390

03/16/50

2,154,998‌

CNY

12,700,000

China

Government

Bond

3

.810

09/14/50

1,959,320‌

CNY

12,400,000

China

Government

Bond

3

.720

04/12/51

1,889,909‌

TOTAL

CHINA

34,961,872‌

35

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

COLOMBIA

-

0

.3

%

COP

5,710,000,000

Colombian

TES

7

.750

%

09/18/30

$

1,162,306‌

TOTAL

COLOMBIA

1,162,306‌

COSTA

RICA

-

0

.1

%

$

400,000

(e)

Costa

Rica

Government

International

Bond

6

.550

04/03/34

380,415‌

TOTAL

COSTA

RICA

380,415‌

COTE

D'IVOIRE

-

0

.2

%

EUR

1,000,000

(e)

Ivory

Coast

Government

International

Bond

5

.875

10/17/31

857,886‌

EUR

100,000

(e)

Ivory

Coast

Government

International

Bond

4

.875

01/30/32

79,657‌

TOTAL

COTE

D'IVOIRE

937,543‌

CYPRUS

-

1

.2

%

EUR

1,300,000

(c)

Cyprus

Government

International

Bond

2

.375

09/25/28

1,289,764‌

EUR

1,100,000

(c)

Cyprus

Government

International

Bond

0

.625

01/21/30

961,320‌

EUR

1,550,000

(c)

Cyprus

Government

International

Bond

0

.950

01/20/32

1,300,423‌

EUR

575,000

(c)

Cyprus

Government

International

Bond

2

.750

02/26/34

525,093‌

EUR

500,000

(c)

Cyprus

Government

International

Bond

2

.750

05/03/49

382,292‌

TOTAL

CYPRUS

4,458,892‌

CZECH

REPUBLIC

-

0

.4

%

CZK

43,100,000

Czech

Republic

Government

Bond

1

.750

06/23/32

1,483,352‌

TOTAL

CZECH

REPUBLIC

1,483,352‌

DOMINICAN

REPUBLIC

-

0

.2

%

750,000

(e)

Dominican

Republic

Government

International

Bond

4

.875

09/23/32

606,064‌

DOP

15,600,000

(e)

Dominican

Republic

Government

International

Bond

11

.250

09/15/35

270,570‌

TOTAL

DOMINICAN

REPUBLIC

876,634‌

ECUADOR

-

0

.1

%

78,000

(e)

Ecuador

Government

International

Bond

0

.000

07/31/30

23,161‌

441,250

(e)

Ecuador

Government

International

Bond

5

.000

07/31/30

223,217‌

309,125

(e)

Ecuador

Government

International

Bond

1

.000

07/31/35

117,020‌

TOTAL

ECUADOR

363,398‌

EGYPT

-

0

.7

%

850,000

(e)

Egypt

Government

International

Bond

5

.750

05/29/24

807,500‌

EGP

16,250,000

Egypt

Government

International

Bond

15

.900

07/02/24

490,797‌

525,000

(e)

Egypt

Government

International

Bond

7

.600

03/01/29

325,879‌

EUR

900,000

(e)

Egypt

Government

International

Bond

6

.375

04/11/31

511,342‌

300,000

(e)

Egypt

Government

International

Bond

7

.053

01/15/32

168,966‌

675,000

(e)

Egypt

Government

International

Bond

8

.500

01/31/47

349,380‌

TOTAL

EGYPT

2,653,864‌

FRANCE

-

2

.0

%

EUR

3,775,000

French

Republic

Government

Bond

OAT

0

.750

11/25/28

3,567,834‌

EUR

1,250,000

(e)

French

Republic

Government

Bond

OAT

0

.500

05/25/40

790,206‌

EUR

910,000

French

Republic

Government

Bond

OAT

0

.750

05/25/52

442,705‌

EUR

1,560,000

(e)

French

Republic

Government

Bond

OAT

0

.750

05/25/53

735,615‌

EUR

2,500,000

(c)

UNEDIC

ASSEO

0

.250

07/16/35

1,793,007‌

TOTAL

FRANCE

7,329,367‌

GERMANY

-

5

.5

%

EUR

425,000

Bundesobligation

1

.300

10/15/27

426,741‌

EUR

4,675,000

Bundesrepublik

Deutschland

0

.500

08/15/27

4,563,748‌

EUR

645,000

Bundesrepublik

Deutschland

0

.000

08/15/29

587,911‌

EUR

365,000

Bundesrepublik

Deutschland

2

.100

11/15/29

374,592‌

EUR

5,200,000

Bundesrepublik

Deutschland

0

.000

08/15/31

4,477,957‌

EUR

520,000

Bundesrepublik

Deutschland

0

.000

02/15/32

441,185‌

EUR

1,465,000

Bundesrepublik

Deutschland

2

.300

02/15/33

1,492,378‌

EUR

7,600,000

Bundesrepublik

Deutschland

1

.000

05/15/38

6,114,970‌

International

Bond

Fund

October

31,

2023

36

See

Notes

to

Financial

Statements

Consolidated

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

GERMANY—continued

EUR

3,245,000

Bundesrepublik

Deutschland

0

.000

%

08/15/52

$

1,456,162‌

MXN

11,000,000

Kreditanstalt

fuer

Wiederaufbau

4

.400

07/25/25

544,930‌

TOTAL

GERMANY

20,480,574‌

GHANA

-

0

.3

%

$

500,000

(e)

Ghana

Government

International

Bond

7

.750

04/07/29

211,875‌

825,000

(e)

Ghana

Government

International

Bond

8

.125

03/26/32

345,469‌

1,000,000

(e)

Ghana

Government

International

Bond

8

.627

06/16/49

413,750‌

TOTAL

GHANA

971,094‌

GREECE

-

1

.5

%

EUR

575,000

(e)

Hellenic

Republic

Government

International

Bond

3

.875

03/12/29

613,547‌

EUR

2,300,000

(e)

Hellenic

Republic

Government

International

Bond

1

.500

06/18/30

2,095,645‌

EUR

1,300,000

(e)

Hellenic

Republic

Government

International

Bond

0

.750

06/18/31

1,091,693‌

EUR

1,100,000

(e)

Hellenic

Republic

Government

International

Bond

1

.750

06/18/32

976,206‌

EUR

750,000

(e)

Hellenic

Republic

Government

International

Bond

4

.375

07/18/38

780,078‌

TOTAL

GREECE

5,557,169‌

HUNGARY

-

1

.1

%

HUF

460,000,000

Hungary

Government

International

Bond

5

.500

06/24/25

1,224,211‌

EUR

550,000

(c)

Hungary

Government

International

Bond

5

.000

02/22/27

585,592‌

285,000

(e)

Hungary

Government

International

Bond

6

.125

05/22/28

282,521‌

HUF

632,000,000

Hungary

Government

International

Bond

3

.000

08/21/30

1,356,152‌

EUR

600,000

(c)

Hungary

Government

International

Bond

1

.750

06/05/35

430,471‌

200,000

(e)

Magyar

Export-Import

Bank

Zrt

6

.125

12/04/27

195,621‌

TOTAL

HUNGARY

4,074,568‌

INDONESIA

-

0

.7

%

IDR

13,000,000,000

Indonesia

Treasury

Bond

8

.125

05/15/24

823,595‌

IDR

17,000,000,000

Indonesia

Treasury

Bond

6

.375

04/15/32

1,020,379‌

IDR

12,435,000,000

Indonesia

Treasury

Bond

7

.000

02/15/33

774,377‌

TOTAL

INDONESIA

2,618,351‌

IRELAND

-

0

.4

%

EUR

930,000

Ireland

Government

Bond

0

.000

10/18/31

766,956‌

EUR

450,000

Ireland

Government

Bond

1

.700

05/15/37

378,769‌

EUR

280,000

(c)

Ireland

Government

Bond

3

.000

10/18/43

267,965‌

TOTAL

IRELAND

1,413,690‌

ITALY

-

1

.9

%

EUR

2,575,000

Italy

Buoni

Poliennali

Del

Tesoro

1

.250

12/01/26

2,525,701‌

EUR

2,625,000

Italy

Buoni

Poliennali

Del

Tesoro

0

.950

09/15/27

2,488,565‌

EUR

975,000

Italy

Buoni

Poliennali

Del

Tesoro

0

.250

03/15/28

879,785‌

EUR

1,150,000

(e)

Italy

Buoni

Poliennali

Del

Tesoro

0

.950

03/01/37

751,775‌

EUR

950,000

(e)

Italy

Buoni

Poliennali

Del

Tesoro

1

.700

09/01/51

515,961‌

TOTAL

ITALY

7,161,787‌

JAPAN

-

9

.4

%

JPY

13,000,000

Japan

Finance

Organization

for

Municipalities

0

.440

08/15/25

86,151‌

JPY

21,000,000

Japan

Finance

Organization

for

Municipalities

0

.320

01/19/26

138,777‌

JPY

30,000,000

Japan

Finance

Organization

for

Municipalities

0

.145

02/16/26

197,448‌

JPY

14,000,000

Japan

Finance

Organization

for

Municipalities

0

.020

05/22/26

91,783‌

JPY

268,000,000

Japan

Government

Five

Year

Bond

0

.005

09/20/26

1,758,126‌

JPY

322,000,000

Japan

Government

Ten

Year

Bond

0

.100

09/20/29

2,071,216‌

JPY

325,000,000

Japan

Government

Ten

Year

Bond

0

.100

12/20/29

2,085,507‌

JPY

425,000,000

Japan

Government

Ten

Year

Bond

0

.100

06/20/30

2,708,121‌

JPY

513,000,000

Japan

Government

Ten

Year

Bond

0

.100

09/20/30

3,256,869‌

JPY

743,400,000

Japan

Government

Ten

Year

Bond

0

.100

12/20/30

4,703,401‌

JPY

457,700,000

Japan

Government

Thirty

Year

Bond

0

.500

09/20/46

2,304,586‌

JPY

73,000,000

Japan

Government

Thirty

Year

Bond

0

.600

09/20/50

354,882‌

JPY

278,000,000

Japan

Government

Thirty

Year

Bond

0

.700

09/20/51

1,374,629‌

37

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

JAPAN—continued

JPY

143,000,000

Japan

Government

Thirty

Year

Bond

1

.300

%

06/20/52

$

827,448‌

JPY

289,500,000

Japan

Government

Thirty

Year

Bond

1

.200

06/20/53

1,626,651‌

JPY

273,800,000

Japan

Government

Twenty

Year

Bond

2

.100

03/20/26

1,889,247‌

JPY

278,000,000

Japan

Government

Twenty

Year

Bond

0

.600

12/20/36

1,693,883‌

JPY

256,000,000

Japan

Government

Twenty

Year

Bond

0

.500

06/20/38

1,496,873‌

JPY

660,000,000

Japan

Government

Twenty

Year

Bond

0

.700

09/20/38

3,956,868‌

JPY

185,000,000

Japan

Government

Twenty

Year

Bond

0

.300

06/20/39

1,025,795‌

JPY

213,500,000

Japan

Government

Two

Year

Bond

0

.005

07/01/25

1,406,566‌

TOTAL

JAPAN

35,054,827‌

JORDAN

-

0

.3

%

$

1,000,000

(e)

Jordan

Government

International

Bond

7

.750

01/15/28

951,450‌

TOTAL

JORDAN

951,450‌

KENYA

-

0

.4

%

1,200,000

(e)

Kenya

Government

International

Bond

7

.000

05/22/27

1,036,704‌

575,000

(e)

Kenya

Government

International

Bond

6

.300

01/23/34

390,586‌

TOTAL

KENYA

1,427,290‌

KOREA,

REPUBLIC

OF

-

3

.1

%

KRW

2,700,000,000

Korea

Treasury

Bond

2

.875

06/10/24

1,987,998‌

KRW

1,900,000,000

Korea

Treasury

Bond

2

.250

06/10/25

1,369,412‌

KRW

1,200,000,000

Korea

Treasury

Bond

1

.375

12/10/29

750,797‌

KRW

7,440,000,000

Korea

Treasury

Bond

2

.000

06/10/31

4,686,699‌

KRW

1,175,000,000

Korea

Treasury

Bond

2

.375

12/10/31

761,830‌

KRW

1,940,000,000

Korea

Treasury

Bond

2

.375

09/10/38

1,141,050‌

KRW

800,000,000

Korea

Treasury

Bond

1

.875

09/10/41

420,398‌

KRW

730,000,000

Korea

Treasury

Bond

2

.500

03/10/52

398,789‌

TOTAL

KOREA,

REPUBLIC

OF

11,516,973‌

LEBANON

-

0

.0

%

1,400,000

(c),(i)

Lebanon

Government

International

Bond

6

.850

03/23/27

85,537‌

TOTAL

LEBANON

85,537‌

LITHUANIA

-

0

.5

%

EUR

1,800,000

(c)

Lithuania

Government

International

Bond

3

.875

06/14/33

1,854,098‌

TOTAL

LITHUANIA

1,854,098‌

MALAYSIA

-

0

.2

%

MYR

4,355,000

Malaysia

Government

Bond

4

.457

03/31/53

900,557‌

TOTAL

MALAYSIA

900,557‌

MEXICO

-

0

.9

%

MXN

30,800,000

Mexican

Bonos

5

.750

03/05/26

1,535,148‌

MXN

34,100,000

Mexican

Bonos

8

.500

11/18/38

1,650,566‌

TOTAL

MEXICO

3,185,714‌

MONGOLIA

-

0

.1

%

550,000

(e)

Mongolia

Government

International

Bond

4

.450

07/07/31

414,623‌

TOTAL

MONGOLIA

414,623‌

MOROCCO

-

0

.4

%

700,000

(e)

Morocco

Government

International

Bond

5

.950

03/08/28

685,125‌

EUR

1,100,000

(e)

Morocco

Government

International

Bond

1

.500

11/27/31

851,142‌

TOTAL

MOROCCO

1,536,267‌

NETHERLANDS

-

0

.3

%

EUR

550,000

(e)

Netherlands

Government

International

Bond

2

.750

01/15/47

524,257‌

EUR

1,345,000

(e)

Netherlands

Government

International

Bond

0

.000

01/15/52

578,907‌

TOTAL

NETHERLANDS

1,103,164‌

International

Bond

Fund

October

31,

2023

38

See

Notes

to

Financial

Statements

Consolidated

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

NEW

ZEALAND

-

0

.8

%

NZD

3,720,000

New

Zealand

Government

International

Bond

0

.500

%

05/15/24

$

2,108,755‌

NZD

1,800,000

New

Zealand

Government

International

Bond

2

.750

04/15/25

1,007,718‌

TOTAL

NEW

ZEALAND

3,116,473‌

NIGERIA

-

0

.2

%

$

925,000

(e)

Nigeria

Government

International

Bond

8

.375

03/24/29

809,838‌

TOTAL

NIGERIA

809,838‌

NORWAY

-

0

.8

%

NOK

9,000,000

City

of

Oslo

Norway

2

.050

10/31/24

781,890‌

NOK

24,975,000

(e)

Norway

Government

International

Bond

2

.000

04/26/28

2,049,907‌

TOTAL

NORWAY

2,831,797‌

PARAGUAY

-

0

.2

%

925,000

(e)

Paraguay

Government

International

Bond

5

.400

03/30/50

691,289‌

TOTAL

PARAGUAY

691,289‌

PERU

-

0

.4

%

PEN

6,201,000

(e)

Peruvian

Government

International

Bond

5

.400

08/12/34

1,346,466‌

TOTAL

PERU

1,346,466‌

POLAND

-

0

.1

%

315,000

(e)

Bank

Gospodarstwa

Krajowego

6

.250

10/31/28

318,100‌

280,000

Republic

of

Poland

Government

International

Bond

5

.500

04/04/53

246,764‌

TOTAL

POLAND

564,864‌

REPUBLIC

OF

SERBIA

-

1

.1

%

EUR

1,700,000

(e)

Serbia

Government

International

Bond

1

.500

06/26/29

1,389,550‌

375,000

(e)

Serbia

Government

International

Bond

6

.500

09/26/33

353,466‌

EUR

725,000

(e)

Serbia

Government

International

Bond

2

.050

09/23/36

460,120‌

RSD

120,000,000

Serbia

Treasury

Bonds

5

.875

02/08/28

1,098,007‌

RSD

101,500,000

Serbia

Treasury

Bonds

4

.500

08/20/32

795,970‌

TOTAL

REPUBLIC

OF

SERBIA

4,097,113‌

ROMANIA

-

0

.9

%

660,000

(e)

Romanian

Government

International

Bond

3

.000

02/27/27

596,385‌

RON

7,590,000

Romanian

Government

International

Bond

8

.000

04/29/30

1,708,127‌

EUR

800,000

(e)

Romanian

Government

International

Bond

2

.000

01/28/32

608,111‌

EUR

850,000

(e)

Romanian

Government

International

Bond

2

.000

04/14/33

616,711‌

TOTAL

ROMANIA

3,529,334‌

RWANDA

-

0

.4

%

1,950,000

(e)

Rwanda

International

Government

Bond

5

.500

08/09/31

1,474,738‌

TOTAL

RWANDA

1,474,738‌

SENEGAL

-

0

.4

%

EUR

1,000,000

(e)

Senegal

Government

International

Bond

4

.750

03/13/28

912,018‌

EUR

825,000

(e)

Senegal

Government

International

Bond

5

.375

06/08/37

557,210‌

TOTAL

SENEGAL

1,469,228‌

SOUTH

AFRICA

-

0

.7

%

ZAR

16,500,000

Republic

of

South

Africa

Government

International

Bond

7

.000

02/28/31

700,016‌

475,000

Republic

of

South

Africa

Government

International

Bond

5

.875

04/20/32

400,696‌

ZAR

20,900,000

Republic

of

South

Africa

Government

International

Bond

8

.875

02/28/35

890,948‌

ZAR

7,800,000

Republic

of

South

Africa

Government

International

Bond

8

.750

01/31/44

293,628‌

39

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SOUTH

AFRICA—continued

$

500,000

Republic

of

South

Africa

Government

International

Bond

7

.300

%

04/20/52

$

388,835‌

TOTAL

SOUTH

AFRICA

2,674,123‌

SPAIN

-

1

.8

%

EUR

1,095,000

(e)

Spain

Government

International

Bond

1

.400

07/30/28

1,059,898‌

EUR

1,875,000

(e)

Spain

Government

International

Bond

0

.600

10/31/29

1,679,177‌

EUR

1,250,000

(e)

Spain

Government

International

Bond

0

.100

04/30/31

1,021,144‌

EUR

4,275,000

(e)

Spain

Government

International

Bond

1

.200

10/31/40

2,836,023‌

TOTAL

SPAIN

6,596,242‌

SUPRANATIONAL

-

2

.9

%

GBP

695,000

African

Development

Bank

0

.500

06/22/26

751,086‌

AUD

720,000

Asian

Development

Bank

3

.900

02/17/26

446,877‌

INR

52,500,000

Asian

Development

Bank

6

.200

10/06/26

610,008‌

CNY

7,000,000

Asian

Infrastructure

Investment

Bank

2

.500

03/24/25

948,498‌

INR

41,700,000

Asian

Infrastructure

Investment

Bank

6

.000

12/08/31

455,386‌

1,250,000

(e)

Banque

Ouest

Africaine

de

Developpement

4

.700

10/22/31

982,262‌

EUR

650,000

(e)

Banque

Ouest

Africaine

de

Developpement

2

.750

01/22/33

483,155‌

112,692

(h)

European

Bank

for

Reconstruction

&

Development

10

.000

02/28/23

112,692‌

AUD

2,150,000

Inter-American

Development

Bank

4

.750

08/27/24

1,364,298‌

INR

33,000,000

Inter-American

Development

Bank

7

.000

04/17/33

385,347‌

CAD

1,600,000

International

Bank

for

Reconstruction

&

Development

1

.900

01/16/25

1,110,545‌

IDR

31,200,000,000

International

Bank

for

Reconstruction

&

Development

6

.250

01/12/28

1,944,885‌

GBP

700,000

International

Finance

Corp

0

.250

12/15/25

770,234‌

GBP

400,000

(c)

International

Finance

Facility

for

Immunisation

Co

2

.750

06/07/25

465,910‌

TOTAL

SUPRANATIONAL

10,831,183‌

THAILAND

-

0

.6

%

THB

27,700,000

Thailand

Government

International

Bond

2

.875

12/17/28

770,359‌

THB

12,000,000

Thailand

Government

International

Bond

1

.585

12/17/35

273,899‌

THB

27,500,000

Thailand

Government

International

Bond

3

.300

06/17/38

735,756‌

THB

29,000,000

Thailand

Government

International

Bond

2

.000

06/17/42

625,051‌

TOTAL

THAILAND

2,405,065‌

UKRAINE

-

0

.1

%

EUR

1,000,000

(e)

Ukraine

Government

International

Bond

6

.750

06/20/28

257,584‌

TOTAL

UKRAINE

257,584‌

UNITED

KINGDOM

-

4

.1

%

GBP

780,000

United

Kingdom

Gilt

0

.250

01/31/25

896,826‌

GBP

1,230,000

United

Kingdom

Gilt

0

.125

01/31/28

1,252,387‌

GBP

900,000

United

Kingdom

Gilt

1

.625

10/22/28

964,627‌

GBP

1,335,000

United

Kingdom

Gilt

0

.500

01/31/29

1,327,916‌

GBP

450,000

United

Kingdom

Gilt

0

.250

07/31/31

397,993‌

GBP

660,000

United

Kingdom

Gilt

3

.250

01/31/33

726,309‌

GBP

1,100,000

United

Kingdom

Gilt

0

.875

07/31/33

952,209‌

GBP

3,895,000

United

Kingdom

Gilt

1

.750

09/07/37

3,275,582‌

GBP

1,300,000

United

Kingdom

Gilt

3

.750

01/29/38

1,403,873‌

GBP

1,450,000

United

Kingdom

Gilt

1

.250

10/22/41

996,231‌

GBP

900,000

United

Kingdom

Gilt

0

.875

01/31/46

499,181‌

GBP

2,760,000

United

Kingdom

Gilt

0

.625

10/22/50

1,218,052‌

GBP

2,150,000

United

Kingdom

Gilt

1

.500

07/31/53

1,228,813‌

TOTAL

UNITED

KINGDOM

15,139,999‌

URUGUAY

-

0

.2

%

UYU

40,600,000

Uruguay

Government

International

Bond

8

.250

05/21/31

922,922‌

TOTAL

URUGUAY

922,922‌

UZBEKISTAN

-

0

.3

%

UZS

7,600,000,000

(e)

Republic

of

Uzbekistan

International

Bond

14

.000

07/19/24

615,957‌

International

Bond

Fund

October

31,

2023

40

See

Notes

to

Financial

Statements

Consolidated

Portfolio

of

Investments

(continued)

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UZBEKISTAN—continued

$

555,000

(e),(j)

Republic

of

Uzbekistan

International

Bond

7

.850

%

10/12/28

$

551,163‌

TOTAL

UZBEKISTAN

1,167,120‌

TOTAL

GOVERNMENT

BONDS

247,840,848‌

(Cost

$313,006,443)

STRUCTURED

ASSETS

-

5

.7

%

IRELAND

-

2

.5

%

897,665

(a)

Agora

Securities

UK

2021

DAC

SONIA

Interest

Rate

Benchmark

+

1.900%

7

.070

07/22/31

1,018,041‌

Series

-

2021

1X

(Class

C)

837,843

(a),(e)

Atom

Mortgage

Securities

DAC

SONIA

Interest

Rate

Benchmark

+

1.900%

7

.120

07/22/31

876,141‌

Series

-

2021

1A

(Class

D)

1,215,867

(a),(e)

Bruegel

2021

DAC

EURIBOR

3

M

+

2.470%

6

.286

05/22/31

1,149,234‌

Series

-

2021

1A

(Class

D)

1,886,093

(a),(e)

Frost

CMBS

DAC

SONIA

Interest

Rate

Benchmark

+

2.900%

8

.119

11/20/33

2,024,244‌

Series

-

2021

1A

(Class

GBD)

883,671

(a),(e)

Last

Mile

Logistics

Pan

Euro

Finance

DAC

EURIBOR

3

M

+

2.700%

1

.000

08/17/33

865,869‌

Series

-

2021

1A

(Class

E)

1,079,778

(a),(e)

Last

Mile

Securities

PE

2021

DAC

EURIBOR

3

M

+

2.350%

6

.137

08/17/31

1,086,049‌

Series

-

2021

1A

(Class

D)

347,448

(a),(e)

Taurus

UK

DAC

SONIA

Interest

Rate

Benchmark

+

1.300%

6

.519

05/17/31

407,793‌

Series

-

2021

UK1A

(Class

B)

1,035,395

(a),(e)

Taurus

UK

DAC

SONIA

Interest

Rate

Benchmark

+

1.650%

6

.869

05/17/31

1,208,835‌

Series

-

2021

UK1A

(Class

C)

297,813

(a),(e)

Taurus

UK

DAC

SONIA

Interest

Rate

Benchmark

+

2.600%

7

.819

05/17/31

345,275‌

Series

-

2021

UK1A

(Class

D)

563,034

(a),(e)

Taurus

UK

DAC

SONIA

Interest

Rate

Benchmark

+

1.500%

6

.719

08/17/31

662,231‌

Series

-

2021

UK4A

(Class

B)

TOTAL

IRELAND

9,643,712‌

ITALY

-

0

.3

%

893,385

(a),(e)

Cassia

SRL

EURIBOR

3

M

+

3.500%

7

.316

05/22/34

881,024‌

Series

-

2022

1A

(Class

B)

TOTAL

ITALY

881,024‌

UNITED

STATES

-

2

.9

%

2,000,000

(a),(e)

Alen

Mortgage

Trust

SOFR

1

M

+

2.364%

7

.699

04/15/34

1,490,270‌

Series

-

2021

ACEN

(Class

C)

489,809

Carvana

Auto

Receivables

Trust

1

.270

03/10/28

468,842‌

Series

-

2021

N2

(Class

D)

1,500,000

(a)

COMM

Mortgage

Trust

4

.347

08/10/48

1,311,468‌

Series

-

2015

CR24

(Class

C)

2,090,000

(a),(e)

Connecticut

Avenue

Securities

Trust

30

D

AVG

SOFR

+

3.100%

8

.421

03/25/42

2,132,066‌

Series

-

2022

R04

(Class

1M2)

1,100,000

(a),(e)

Connecticut

Avenue

Securities

Trust

30

D

AVG

SOFR

+

3.500%

8

.821

03/25/42

1,145,162‌

Series

-

2022

R03

(Class

1M2)

437,703

(e)

Diamond

Resorts

Owner

Trust

2

.700

11/21/33

398,345‌

Series

-

2021

1A

(Class

C)

1,500,000

(a),(e)

ELP

Commercial

Mortgage

Trust

SOFR

1

M

+

2.781%

8

.116

11/15/38

1,429,039‌

Series

-

2021

ELP

(Class

F)

199,639

(e)

MVW

LLC

1

.940

01/22/41

180,101‌

Series

-

2021

1WA

(Class

C)

500,000

(e)

Oportun

Issuance

Trust

1

.960

05/08/31

452,581‌

Series

-

2021

B

(Class

B)

500,000

(e)

Oportun

Issuance

Trust

3

.650

05/08/31

457,112‌

Series

-

2021

B

(Class

C)

41

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UNITED

STATES—continued

$

1,250,000

(e)

Purchasing

Power

Funding

LLC

4

.370

%

10/15/25

$

1,207,561‌

Series

-

2021

A

(Class

D)

TOTAL

UNITED

STATES

10,672,547‌

TOTAL

STRUCTURED

ASSETS

21,197,283‌

(Cost

$23,665,276)

TOTAL

LONG-TERM

INVESTMENTS

349,559,469‌

(Cost

$430,673,624)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

4.9%

COMMERCIAL

PAPER

-

2

.6

%

10,000,000

(e)

HSBC

USA,

Inc

0

.000

02/02/24

9,853,590‌

TOTAL

COMMERCIAL

PAPER

9,853,590‌

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

KZT

392,600,000

Kazakhstan

Treasury

Bill

0

.000

03/13/24

791,874‌

TOTAL

GOVERNMENT

AGENCY

DEBT

791,874‌

REPURCHASE

AGREEMENT

-

2

.1

%

7,742,000

(k)

Fixed

Income

Clearing

Corp

(FICC)

5

.300

11/01/23

7,742,000‌

TOTAL

REPURCHASE

AGREEMENT

7,742,000‌

TOTAL

SHORT-TERM

INVESTMENTS

18,387,464‌

(Cost

$18,446,115)

SHARES

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

0.3%

1,114,105

(l)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

5

.360

1,114,105‌

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

1,114,105‌

(Cost

$1,114,105)

TOTAL

INVESTMENTS

-

98.9%

369,061,038‌

(Cost

$450,233,844)

OTHER

ASSETS

&

LIABILITIES,

NET

-

1.1%

4,051,819‌

NET

ASSETS

-

100.0%

$

373,112,857‌

International

Bond

Fund

October

31,

2023

42

See

Notes

to

Financial

Statements

Consolidated

Portfolio

of

Investments

(continued)

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

AUD

Australian

Dollar

AVG

Average

BRL

Brazilian

Real

CAD

Canadian

Dollar

CME

Chicago

Mercantile

Exchange

CNY

Chinese

Yuan

COP

Colombia

Peso

CZK

Czech

Republic

Koruna

D

Day

DOP

Dominican

Republic

Peso

EGP

Egyptian

Pound

EUR

Euro

EURIBOR

EURO

Interbank

Offer

Rate

GBP

Pound

Sterling

HUF

Hungary

Forint

IDR

Indonesian

Rupiah

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

KZT

Kazakhstani

Tenge

M

Month

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

NOK

Norwegian

Krone

NZD

New

Zealand

Dollar

PEN

Peruvian

Sol

RON

Romanian

Leu

RSD

Serbian

Dinar

SOFR

Secure

Overnight

Financing

Rate

SONIA

Sterling

Overnight

Interbank

Average

Rate

THB

Thai

Baht

UGX

Ugandan

Shilling

UYU

Uruguayan

Peso

UZS

Uzbekistani

Som

ZAR

South

African

Rand

(a)

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(b)

Perpetual

security

(c)

All

or

a

portion

of

this

security

is

owned

by

TIAA-CREF

International

Bond

Offshore

Limited

which

is

a

100%

owned

subsidiary

of

the

fund.

(d)

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$1,072,326.

(e)

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

(f)

Payment

in

Kind

Bond

(g)

All

or

a

portion

of

this

security

is

owned

by

TIAA-CREF

International

Bond

Taxable

Offshore

Limited

which

is

a

100%

owned

subsidiary

of

the

fund.

(h)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(i)

In

default

(j)

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

(k)

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

5.300%

dated

10/31/23

to

be

repurchased

at

$7,742,000

on

11/1/23,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.375%

and

maturity

date

1/31/26,

valued

at

$7,896,897.

(l)

Investments

made

with

cash

collateral

received

from

securities

on

loan.

43

See

Notes

to

Financial

Statements

Forward

Foreign

Currency

Contracts

Currency

Purchased

Receive

Currency

Sold

Deliver

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

$

3,198,460

NZD

5,297,038

Australia

and

New

Zealand

Banking

Group

01/16/24

  $

111,578‌

GBP

310,603

$

377,490

Australia

and

New

Zealand

Banking

Group(a)

01/16/24

(

352‌

)

Total

  $

111,226‌

$

43,632,650

CNY

318,029,661

Bank

of

America

11/15/23

  $

(

568,564‌

)

$

1,465,052

CZK

33,985,684

Bank

of

America

11/15/23

2,239‌

$

4,843,932

EUR

4,549,197

Bank

of

America(a)

01/16/24

18,071‌

$

1,017,319

GBP

828,365

Bank

of

America(a)

01/16/24

11,510‌

$

1,263,994

HUF

465,118,431

Bank

of

America

11/15/23

(

19,395‌

)

Total

  $

(

556,139‌

)

$

1,158,833

MXN

20,790,592

Barclays

Bank

Plc

Wholesale

11/15/23

  $

8,548‌

$

2,406,286

IDR

37,884,333,879

Citibank

N.A.

11/17/23

  $

28,861‌

$

872,501

RON

4,087,736

Citibank

N.A.

11/15/23

1,902‌

$

1,181,307

THB

42,971,355

Citibank

N.A.

11/17/23

(

16,032‌

)

Total

  $

14,731‌

$

13,586,823

CAD

18,449,891

Morgan

Stanley

01/16/24

  $

263,756‌

$

2,434,439

EUR

2,306,734

Morgan

Stanley

01/16/24

(

15,417‌

)

$

30,034,981

GBP

24,455,943

Morgan

Stanley

01/16/24

290,864‌

$

486,871

GBP

400,000

Morgan

Stanley

01/16/24

378‌

$

462,967

ZAR

8,733,747

Morgan

Stanley

11/15/23

(

5,019‌

)

Total

  $

534,562‌

$

10,390,315

AUD

16,111,831

Standard

Chartered

Bank

01/16/24

  $

143,449‌

$

11,725,308

KRW

15,679,081,727

Standard

Chartered

Bank

11/17/23

124,754‌

$

344,489

PEN

1,318,772

Standard

Chartered

Bank

11/17/23

1,456‌

Total

  $

269,659‌

$

542,924

COP

2,309,914,790

Toronto

Dominion

Bank

11/17/23

  $

(

16,018‌

)

$

125,394,052

EUR

117,722,611

Toronto

Dominion

Bank

01/16/24

367,287‌

$

781,216

GBP

643,379

Toronto

Dominion

Bank

01/16/24

(

1,284‌

)

$

35,656,339

JPY

5,218,309,917

Toronto

Dominion

Bank

01/16/24

775,021‌

$

2,911,835

NOK

31,367,640

Toronto

Dominion

Bank

01/16/24

97,619‌

Total

  $

1,222,625‌

Total

  $

1,605,212‌

AUD

Australian

Dollar

CAD

Canadian

Dollar

CNY

Chinese

Yuan

COP

Colombia

Peso

CZK

Czech

Republic

Koruna

EUR

Euro

GBP

Pound

Sterling

HUF

Hungary

Forint

IDR

Indonesia

Rupiah

JPY

Japanese

Yen

KRW

South

Korean

Won

MXN

Mexican

Peso

NOK

Norwegian

Krone

NZD

New

Zealand

Dollar

PEN

Peruvian

Sol

RON

Romanian

Leu

THB

Thai

Baht

ZAR

South

African

Rand

(a)

All

or

a

portion

of

this

security

is

owned

by

TIAA-CREF

International

Bond

Taxable

Offshore

Limited

which

is

a

100%

owned

subsidiary

of

the

fund.

44

Statement

of

Assets

and

Liabilities

See

Notes

to

Financial

Statements

October

31,

2023

6.1

Emerging

Markets

Debt

Fund

6.2

International

Bond

Fund

§

ASSETS

Long-term

investments,

at

value

*†

$

430,012,536‌

$

349,559,469‌

Short-term

investments,

at

value

#

11,942,521‌

18,387,464‌

Investments

purchased

with

collateral

from

securities

lending,

at

value

(cost

approximates

value)

5,509,039‌

1,114,105‌

Cash

1,189‌

373,064‌

Cash

denominated

in

foreign

currencies

^

244,211‌

1,059,742‌

Receivables:

Dividends

136‌

151‌

Interest

7,146,678‌

3,669,596‌

Investments

sold

1,205,832‌

3,810,313‌

Reclaims

–‌

60,380‌

Reimbursement

from

Adviser

177,630‌

183,189‌

Shares

sold

11,747‌

26,031‌

Unrealized

appreciation

on

forward

foreign

currency

contracts

12,764‌

2,247,293‌

Other

18,380‌

33,087‌

Total

assets

456,282,663‌

380,523,884‌

LIABILITIES

Due

to

affiliates

4,481‌

3,754‌

Payables:

Collateral

from

securities

lending

5,509,039‌

1,114,105‌

Investments

purchased

-

regular

settlement

–‌

3,541,016‌

Shares

redeemed

1,579,504‌

1,894,802‌

Service

agreement

fees

5,474‌

1,097‌

Unrealized

depreciation

on

forward

foreign

currency

contracts

–‌

642,081‌

Accrued

expenses:

Custodian

fees

10,850‌

29,045‌

Management

fees

212,354‌

160,958‌

Professional

fees

1,587‌

2,072‌

Shareholder

reporting

expenses

9,808‌

6,753‌

Shareholder

servicing

agent

fees

1,515‌

348‌

Trustees

fees

11,439‌

7,265‌

12b-1

distribution

and

service

fees

2,572‌

320‌

Other

4,482‌

7,411‌

Total

liabilities

7,353,105‌

7,411,027‌

Net

assets

$

448,929,558‌

$

373,112,857‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

$

592,958,674‌

$

475,056,292‌

Total

distributable

earnings

(loss)

(

144,029,116‌

)

(

101,943,435‌

)

Net

assets

$

448,929,558‌

$

373,112,857‌

§

Consolidated

Statement

of

Assets

and

Liabilities

(see

Notes

to

Financial

Statements)

*

Includes

securities

loaned

of

$

6,353,171‌

$

1,072,326‌

†

Long-term

investments,

cost

$

539,380,438‌

$

430,673,624‌

#

Short-term

investments,

cost

$

11,983,294‌

$

18,446,115‌

^

Cash

denominated

in

foreign

currencies,

cost

$

250,301‌

$

1,275,845‌

45

Statement

of

Assets

and

Liabilities

See

Notes

to

Financial

Statements

October

31,

2023

6.1

Emerging

Markets

Debt

Fund

6.2

International

Bond

Fund

§

INSTITUTIONAL

CLASS:

Net

assets

$

78,811,071‌

$

720,512‌

Shares

outstanding

10,265,870‌

91,016‌

Net

asset

value

per

share

$

7

.68‌

$

7

.92‌

ADVISOR

CLASS:

Net

assets

$

10,133,039‌

$

1,133,204‌

Shares

outstanding

1,316,328‌

143,102‌

Net

asset

value

per

share

$

7

.70‌

$

7

.92‌

PREMIER

CLASS:

Net

assets

$

195,498‌

$

81,906‌

Shares

outstanding

25,473‌

10,285‌

Net

asset

value

per

share

$

7

.67‌

$

7

.96‌

RETIREMENT

CLASS:

Net

assets

$

16,606,972‌

$

4,489,069‌

Shares

outstanding

2,165,298‌

568,472‌

Net

asset

value

per

share

$

7

.67‌

$

7

.90‌

RETAIL

CLASS:

Net

assets

$

11,663,106‌

$

1,450,021‌

Shares

outstanding

1,519,673‌

183,598‌

Net

asset

value

per

share

$

7

.67‌

$

7

.90‌

CLASS

W:

Net

assets

$

331,519,872‌

$

365,238,145‌

Shares

outstanding

43,186,386‌

45,902,924‌

Net

asset

value

per

share

$

7

.68‌

$

7

.96‌

Authorized

shares

-

per

class

Unlimited

Unlimited

Par

value

per

share

$

0

.0001‌

$

0

.0001‌

46

Statement

of

Operations

See

Notes

to

Financial

Statements

Year

Ended

October

31,

2023

6.1

Emerging

Markets

Debt

Fund

6.2

International

Bond

Fund

§

INVESTMENT

INCOME

Dividends

$

–‌

$

1,091‌

Interest

30,661,642‌

13,151,530‌

Securities

lending

income,

net

71,626‌

1,634‌

Tax

withheld

(

7,375‌

)

(

31,146‌

)

Total

investment

income

30,725,893‌

13,123,109‌

EXPENSES

Management

fees

2,567,700‌

1,932,684‌

12b-1

distribution

and

service

fees

—

Premier

Class

301‌

124‌

12b-1

distribution

and

service

fees

—

Retail

Class

34,774‌

3,705‌

Shareholder

servicing

agent

fees

—

Institutional

Class

1,459‌

59‌

Shareholder

servicing

agent

fees

—

Advisor

Class

8,291‌

610‌

Shareholder

servicing

agent

fees

—

Premier

Class

44‌

28‌

Shareholder

servicing

agent

fees

—

Retirement

Class

41,046‌

11,593‌

Shareholder

servicing

agent

fees

—

Retail

Class

6,700‌

1,441‌

Shareholder

servicing

agent

fees

—

Class

W

623‌

439‌

Administrative

service

fees

55,685‌

55,119‌

Trustees

fees

8,403‌

6,887‌

Custodian

expenses

43,954‌

118,377‌

Overdraft

expense

2,722‌

9,046‌

Professional

fees

68,096‌

126,064‌

Registration

fees

79,722‌

76,127‌

Shareholder

reporting

expenses

33,729‌

27,355‌

Other

27,491‌

36,610‌

Total

expenses

2,980,740‌

2,406,268‌

Expenses

reimbursed

by

the

investment

adviser

(

2,245,756‌

)

(

2,328,961‌

)

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

–‌

(

72‌

)

Net

expenses

734,984‌

77,235‌

Net

investment

income

(loss)

29,990,909‌

13,045,874‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss):

Investments

(

25,239,461‌

)

(

8,035,599‌

)

Forward

foreign

currency

contracts

77,870‌

(

3,958,793‌

)

Foreign

currency

transactions

(

650,609‌

)

(

2,775,834‌

)

Net

realized

gain

(loss)

(

25,812,200‌

)

(

14,770,226‌

)

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

50,159,062‌

21,418,799‌

Forward

foreign

currency

contracts

12,764‌

(

2,435,480‌

)

Foreign

currency

translations

23,456‌

94,133‌

Net

change

in

unrealized

appreciation

(depreciation)

50,195,282‌

19,077,452‌

Net

realized

and

unrealized

gain

(loss)

24,383,082‌

4,307,226‌

Net

increase

(decrease)

in

net

assets

from

operations

$

54,373,991‌

$

17,353,100‌

§

Consolidated

Statement

of

Operations

(see

Notes

to

Financial

Statements)

47

Statement

of

Changes

in

Net

Assets

See

Notes

to

Financial

Statements

6.1

Emerging

Markets

Debt

Fund

6.2

International

Bond

Fund

§

Year

Ended

10/31/23

Year

Ended

10/31/22

Year

Ended

10/31/23

Year

Ended

10/31/22

OPERATIONS

Net

investment

income

(loss)

$

29,990,909‌

$

36,019,918‌

$

13,045,874‌

$

11,894,949‌

Net

realized

gain

(loss)

(

25,812,200‌

)

(

14,121,417‌

)

(

14,770,226‌

)

28,812,200‌

Net

change

in

unrealized

appreciation

(depreciation)

50,195,282‌

(

155,261,141‌

)

19,077,452‌

(

101,332,302‌

)

Net

increase

(decrease)

in

net

assets

from

operations

54,373,991‌

(

133,362,640‌

)

17,353,100‌

(

60,625,153‌

)

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

–‌

–‌

Dividends:

Institutional

Class

(

3,628,366‌

)

(

2,562,552‌

)

(

28,907‌

)

(

58,285‌

)

Advisor

Class

(

638,158‌

)

(

980,991‌

)

(

5,538‌

)

(

24,223‌

)

Premier

Class

(

11,755‌

)

(

12,046‌

)

(

3,718‌

)

(

7,463‌

)

Retirement

Class

(

928,715‌

)

(

899,765‌

)

(

204,917‌

)

(

397,067‌

)

Retail

Class

(

802,809‌

)

(

760,240‌

)

(

65,023‌

)

(

126,081‌

)

Class

W

(

24,521,455‌

)

(

28,691,134‌

)

(

17,160,957‌

)

(

41,868,656‌

)

Total

distributions

(

30,531,258‌

)

(

33,906,728‌

)

(

17,469,060‌

)

(

42,481,775‌

)

FUND

SHARE

TRANSACTIONS

Subscriptions

174,403,765‌

250,965,212‌

106,355,135‌

101,338,544‌

Reinvestments

of

distributions

5,900,798‌

5,111,936‌

298,458‌

4,655,114‌

Redemptions

(

262,061,355‌

)

(

184,536,424‌

)

(

109,472,682‌

)

(

151,809,511‌

)

Net

increase

(decrease)

from

Fund

share

transactions

(

81,756,792‌

)

71,540,724‌

(

2,819,089‌

)

(

45,815,853‌

)

Net

increase

(decrease)

in

net

assets

(

57,914,059‌

)

(

95,728,644‌

)

(

2,935,049‌

)

(

148,922,781‌

)

Net

assets

at

the

beginning

of

period

506,843,617‌

602,572,261‌

376,047,906‌

524,970,687‌

Net

assets

at

the

end

of

period

$

448,929,558‌

$

506,843,617‌

$

373,112,857‌

$

376,047,906‌

§

Consolidated

Statement

of

Changes

in

Net

Assets

(see

Notes

to

Financial

Statements)

Financial

Highlights

See

Notes

to

Financial

Statements

48

The

following

data

is

for

a

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

6.1

EMERGING

MARKETS

DEBT

FUND

Institutional

Class:

10/31/23

$

7

.34‌

$

0

.47‌

$

0

.35‌

$

0

.82‌

$

(

0

.48‌

)

$

—‌

$

(

0

.48‌

)

$

7

.68‌

10/31/22

9

.97‌

0

.52‌

(

2

.66‌

)

(

2

.14‌

)

(

0

.49‌

)

—‌

(

0

.49‌

)

7

.34‌

10/31/21

9

.65‌

0

.47‌

0

.29‌

0

.76‌

(

0

.44‌

)

—‌

(

0

.44‌

)

9

.97‌

10/31/20

10

.10‌

0

.50‌

(

0

.48‌

)

0

.02‌

(

0

.47‌

)

—‌

(

0

.47‌

)

9

.65‌

10/31/19

9

.18‌

0

.58‌

0

.85‌

1

.43‌

(

0

.51‌

)

—‌

(

0

.51‌

)

10

.10‌

Advisor

Class:

10/31/23

7

.36‌

0

.47‌

0

.34‌

0

.81‌

(

0

.47‌

)

—‌

(

0

.47‌

)

7

.70‌

10/31/22

10

.00‌

0

.51‌

(

2

.67‌

)

(

2

.16‌

)

(

0

.48‌

)

—‌

(

0

.48‌

)

7

.36‌

10/31/21

9

.67‌

0

.46‌

0

.30‌

0

.76‌

(

0

.43‌

)

—‌

(

0

.43‌

)

10

.00‌

10/31/20

10

.13‌

0

.51‌

(

0

.51‌

)

0

.00‌

d

(

0

.46‌

)

—‌

(

0

.46‌

)

9

.67‌

10/31/19

9

.20‌

0

.57‌

0

.87‌

1

.44‌

(

0

.51‌

)

—‌

(

0

.51‌

)

10

.13‌

Premier

Class:

10/31/23

7

.34‌

0

.46‌

0

.33‌

0

.79‌

(

0

.46‌

)

—‌

(

0

.46‌

)

7

.67‌

10/31/22

9

.97‌

0

.50‌

(

2

.66‌

)

(

2

.16‌

)

(

0

.47‌

)

—‌

(

0

.47‌

)

7

.34‌

10/31/21

9

.65‌

0

.47‌

0

.28‌

0

.75‌

(

0

.43‌

)

—‌

(

0

.43‌

)

9

.97‌

10/31/20

10

.09‌

0

.51‌

(

0

.50‌

)

0

.01‌

(

0

.45‌

)

—‌

(

0

.45‌

)

9

.65‌

10/31/19

9

.17‌

0

.57‌

0

.85‌

1

.42‌

(

0

.50‌

)

—‌

(

0

.50‌

)

10

.09‌

Retirement

Class:

10/31/23

7

.34‌

0

.45‌

0

.34‌

0

.79‌

(

0

.46‌

)

—‌

(

0

.46‌

)

7

.67‌

10/31/22

9

.97‌

0

.50‌

(

2

.66‌

)

(

2

.16‌

)

(

0

.47‌

)

—‌

(

0

.47‌

)

7

.34‌

10/31/21

9

.64‌

0

.45‌

0

.30‌

0

.75‌

(

0

.42‌

)

—‌

(

0

.42‌

)

9

.97‌

10/31/20

10

.09‌

0

.49‌

(

0

.50‌

)

(

0

.01‌

)

(

0

.44‌

)

—‌

(

0

.44‌

)

9

.64‌

10/31/19

9

.18‌

0

.56‌

0

.84‌

1

.40‌

(

0

.49‌

)

—‌

(

0

.49‌

)

10

.09‌

Retail

Class:

10/31/23

7

.34‌

0

.45‌

0

.33‌

0

.78‌

(

0

.45‌

)

—‌

(

0

.45‌

)

7

.67‌

10/31/22

9

.97‌

0

.50‌

(

2

.67‌

)

(

2

.17‌

)

(

0

.46‌

)

—‌

(

0

.46‌

)

7

.34‌

10/31/21

9

.64‌

0

.43‌

0

.30‌

0

.73‌

(

0

.40‌

)

—‌

(

0

.40‌

)

9

.97‌

10/31/20

10

.09‌

0

.48‌

(

0

.49‌

)

(

0

.01‌

)

(

0

.44‌

)

—‌

(

0

.44‌

)

9

.64‌

10/31/19

9

.18‌

0

.56‌

0

.83‌

1

.39‌

(

0

.48‌

)

—‌

(

0

.48‌

)

10

.09‌

Class

W:

10/31/23

7

.34‌

0

.52‌

0

.35‌

0

.87‌

(

0

.53‌

)

—‌

(

0

.53‌

)

7

.68‌

10/31/22

9

.98‌

0

.57‌

(

2

.67‌

)

(

2

.10‌

)

(

0

.54‌

)

—‌

(

0

.54‌

)

7

.34‌

10/31/21

9

.65‌

0

.53‌

0

.30‌

0

.83‌

(

0

.50‌

)

—‌

(

0

.50‌

)

9

.98‌

10/31/20

10

.11‌

0

.57‌

(

0

.50‌

)

0

.07‌

(

0

.53‌

)

—‌

(

0

.53‌

)

9

.65‌

10/31/19

9

.19‌

0

.65‌

0

.84‌

1

.49‌

(

0

.57‌

)

—‌

(

0

.57‌

)

10

.11‌

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

d

Value

rounded

to

zero.

See

Notes

to

Financial

Statements

49

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

11

.11‌

%

$

78,811‌

0

.62‌

%

0

.62‌

%

5

.96‌

%

27‌

%

(

22

.07‌

)

35,533‌

0

.62‌

0

.62‌

5

.93‌

37‌

7

.90‌

77,422‌

0

.61‌

0

.61‌

4

.67‌

57‌

0

.44‌

47,256‌

0

.62‌

0

.62‌

5

.22‌

77‌

16

.00‌

40,886‌

0

.63‌

0

.63‌

6

.01‌

78‌

10

.99‌

10,133‌

0

.69‌

0

.69‌

5

.91‌

27‌

(

22

.17‌

)

17,890‌

0

.69‌

0

.69‌

5

.96‌

37‌

7

.91‌

19,272‌

0

.69‌

0

.69‌

4

.55‌

57‌

0

.26‌

20,506‌

0

.69‌

0

.69‌

5

.29‌

77‌

16

.00‌

18,116‌

0

.71‌

0

.71‌

5

.82‌

78‌

10

.78‌

195‌

0

.79‌

0

.79‌

5

.81‌

27‌

(

22

.21‌

)

187‌

0

.78‌

0

.78‌

5

.86‌

37‌

7

.74‌

253‌

0

.80‌

0

.80‌

4

.61‌

57‌

0

.29‌

244‌

0

.78‌

0

.78‌

5

.19‌

77‌

15

.84‌

882‌

0

.79‌

0

.79‌

5

.91‌

78‌

10

.71‌

16,607‌

0

.87‌

0

.86‌

5

.74‌

27‌

(

22

.21‌

)

13,771‌

0

.87‌

0

.80‌

5

.84‌

37‌

7

.78‌

19,212‌

0

.86‌

0

.82‌

4

.44‌

57‌

0

.18‌

17,840‌

0

.87‌

0

.87‌

5

.07‌

77‌

15

.61‌

19,204‌

0

.88‌

0

.88‌

5

.79‌

78‌

10

.65‌

11,663‌

0

.92‌

0

.92‌

5

.73‌

27‌

(

22

.32‌

)

8,722‌

0

.93‌

0

.93‌

5

.68‌

37‌

7

.61‌

15,698‌

0

.94‌

0

.94‌

4

.30‌

57‌

0

.12‌

19,832‌

0

.93‌

0

.93‌

5

.01‌

77‌

15

.55‌

22,567‌

0

.92‌

0

.92‌

5

.77‌

78‌

11

.82‌

331,520‌

0

.62‌

0.00‌

6

.58‌

27‌

(

21

.65‌

)

430,741‌

0

.62‌

0.00‌

6

.64‌

37‌

8

.66‌

470,716‌

0

.61‌

0.00‌

5

.24‌

57‌

0

.98‌

474,236‌

0

.62‌

0.00‌

5

.89‌

77‌

16

.72‌

433,771‌

0

.63‌

0.00‌

6

.68‌

78‌

Financial

Highlights

(continued)

See

Notes

to

Financial

Statements

50

Financial

Highlights

(continued)

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(Loss)

a

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

Net

Investment

Income

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

of

Period

–

INTERNATIONAL

BOND

FUND

§

Institutional

Class:

10/31/23

$

7

.96‌

$

0

.22‌

$

0

.10‌

$

0

.32‌

$

(

0

.36‌

)

$

—‌

$

(

0

.36‌

)

$

7

.92‌

10/31/22

9

.94‌

0

.18‌

(

1

.41‌

)

(

1

.23‌

)

(

0

.67‌

)

(

0

.08‌

)

(

0

.75‌

)

7

.96‌

10/31/21

10

.24‌

0

.15‌

(

0

.17‌

)

(

0

.02‌

)

(

0

.18‌

)

(

0

.10‌

)

(

0

.28‌

)

9

.94‌

10/31/20

10

.27‌

0

.14‌

0

.10‌

0

.24‌

(

0

.27‌

)

—‌

(

0

.27‌

)

10

.24‌

10/31/19

9

.71‌

0

.19‌

0

.91‌

1

.10‌

(

0

.54‌

)

—‌

(

0

.54‌

)

10

.27‌

Advisor

Class:

10/31/23

7

.97‌

0

.22‌

0

.09‌

0

.31‌

(

0

.36‌

)

—‌

(

0

.36‌

)

7

.92‌

10/31/22

9

.92‌

0

.18‌

(

1

.40‌

)

(

1

.22‌

)

(

0

.65‌

)

(

0

.08‌

)

(

0

.73‌

)

7

.97‌

10/31/21

10

.23‌

0

.14‌

(

0

.17‌

)

(

0

.03‌

)

(

0

.18‌

)

(

0

.10‌

)

(

0

.28‌

)

9

.92‌

10/31/20

10

.27‌

0

.14‌

0

.09‌

0

.23‌

(

0

.27‌

)

—‌

(

0

.27‌

)

10

.23‌

10/31/19

9

.71‌

0

.18‌

0

.91‌

1

.09‌

(

0

.53‌

)

—‌

(

0

.53‌

)

10

.27‌

Premier

Class:

10/31/23

8

.01‌

0

.21‌

0

.10‌

0

.31‌

(

0

.36‌

)

—‌

(

0

.36‌

)

7

.96‌

10/31/22

9

.99‌

0

.17‌

(

1

.42‌

)

(

1

.25‌

)

(

0

.65‌

)

(

0

.08‌

)

(

0

.73‌

)

8

.01‌

10/31/21

10

.29‌

0

.13‌

(

0

.16‌

)

(

0

.03‌

)

(

0

.17‌

)

(

0

.10‌

)

(

0

.27‌

)

9

.99‌

10/31/20

10

.34‌

0

.13‌

0

.08‌

0

.21‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.29‌

10/31/19

9

.77‌

0

.17‌

0

.92‌

1

.09‌

(

0

.52‌

)

—‌

(

0

.52‌

)

10

.34‌

Retirement

Class:

10/31/23

7

.95‌

0

.20‌

0

.11‌

0

.31‌

(

0

.36‌

)

—‌

(

0

.36‌

)

7

.90‌

10/31/22

9

.91‌

0

.16‌

(

1

.41‌

)

(

1

.25‌

)

(

0

.63‌

)

(

0

.08‌

)

(

0

.71‌

)

7

.95‌

10/31/21

10

.22‌

0

.12‌

(

0

.17‌

)

(

0

.05‌

)

(

0

.16‌

)

(

0

.10‌

)

(

0

.26‌

)

9

.91‌

10/31/20

10

.27‌

0

.12‌

0

.09‌

0

.21‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.22‌

10/31/19

9

.71‌

0

.16‌

0

.91‌

1

.07‌

(

0

.51‌

)

—‌

(

0

.51‌

)

10

.27‌

Retail

Class:

10/31/23

7

.96‌

0

.20‌

0

.10‌

0

.30‌

(

0

.36‌

)

—‌

(

0

.36‌

)

7

.90‌

10/31/22

9

.91‌

0

.15‌

(

1

.41‌

)

(

1

.26‌

)

(

0

.61‌

)

(

0

.08‌

)

(

0

.69‌

)

7

.96‌

10/31/21

10

.22‌

0

.11‌

(

0

.17‌

)

(

0

.06‌

)

(

0

.15‌

)

(

0

.10‌

)

(

0

.25‌

)

9

.91‌

10/31/20

10

.28‌

0

.11‌

0

.09‌

0

.20‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.22‌

10/31/19

9

.71‌

0

.15‌

0

.92‌

1

.07‌

(

0

.50‌

)

—‌

(

0

.50‌

)

10

.28‌

Class

W:

10/31/23

7

.96‌

0

.27‌

0

.11‌

0

.38‌

(

0

.38‌

)

—‌

(

0

.38‌

)

7

.96‌

10/31/22

9

.99‌

0

.24‌

(

1

.42‌

)

(

1

.18‌

)

(

0

.77‌

)

(

0

.08‌

)

(

0

.85‌

)

7

.96‌

10/31/21

10

.29‌

0

.21‌

(

0

.17‌

)

0

.04‌

(

0

.24‌

)

(

0

.10‌

)

(

0

.34‌

)

9

.99‌

10/31/20

10

.28‌

0

.21‌

0

.08‌

0

.29‌

(

0

.28‌

)

—‌

(

0

.28‌

)

10

.29‌

10/31/19

9

.71‌

0

.25‌

0

.92‌

1

.17‌

(

0

.60‌

)

—‌

(

0

.60‌

)

10

.28‌

§

Consolidated

Financial

Highlights

(see

Notes

to

Financial

Statements)

a

Based

on

average

shares

outstanding.

b

Percentage

is

not

annualized.

See

Notes

to

Financial

Statements

51

Ratios

and

Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return

b

Net

Assets,

End

of

Period

(000)

Gross

Expenses

Net

Expenses

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate

4

.12‌

%

$

721‌

0

.63‌

%

0

.59‌

%

2

.81‌

%

29‌

%

(

12

.72‌

)

630‌

0

.61‌

0

.59‌

2

.03‌

39‌

(

0

.26‌

)

732‌

0

.60‌

0

.60‌

1

.46‌

37‌

2

.39‌

883‌

0

.62‌

0

.60‌

1

.43‌

50‌

11

.63‌

717‌

0

.67‌

0

.62‌

1

.87‌

51‌

3

.96‌

1,133‌

0

.70‌

0

.67‌

2

.74‌

29‌

(

12

.61‌

)

106‌

0

.69‌

0

.67‌

2

.10‌

39‌

(

0

.39‌

)

117‌

0

.68‌

0

.68‌

1

.38‌

37‌

2

.30‌

132‌

0

.64‌

0

.62‌

1

.42‌

50‌

11

.60‌

106‌

0

.70‌

0

.65‌

1

.85‌

51‌

3

.91‌

82‌

0

.80‌

0

.75‌

2

.65‌

29‌

(

12

.89‌

)

82‌

0

.78‌

0

.75‌

1

.86‌

39‌

(

0

.42‌

)

103‌

0

.80‌

0

.75‌

1

.31‌

37‌

2

.14‌

106‌

0

.80‌

0

.77‌

1

.28‌

50‌

11

.48‌

106‌

0

.83‌

0

.79‌

1

.71‌

51‌

3

.92‌

4,489‌

0

.87‌

0

.84‌

2

.55‌

29‌

(

12

.97‌

)

4,435‌

0

.86‌

0

.84‌

1

.77‌

39‌

(

0

.58‌

)

5,682‌

0

.84‌

0

.84‌

1

.21‌

37‌

2

.13‌

8,041‌

0

.87‌

0

.85‌

1

.18‌

50‌

11

.36‌

5,903‌

0

.91‌

0

.87‌

1

.62‌

51‌

3

.75‌

1,450‌

0

.97‌

0

.94‌

2

.46‌

29‌

(

13

.01‌

)

1,448‌

1

.10‌

0

.94‌

1

.68‌

39‌

(

0

.68‌

)

1,731‌

1

.49‌

0

.94‌

1

.12‌

37‌

1

.98‌

1,840‌

1

.09‌

0

.96‌

1

.08‌

50‌

11

.36‌

1,297‌

1

.17‌

0

.99‌

1

.50‌

51‌

4

.80‌

365,238‌

0

.62‌

0.00‌

3

.39‌

29‌

(

12

.23‌

)

369,347‌

0

.61‌

0.00‌

2

.60‌

39‌

0

.29‌

516,606‌

0

.59‌

0.00‌

2

.07‌

37‌

2

.95‌

427,813‌

0

.62‌

0.00‌

2

.05‌

50‌

12

.44‌

404,046‌

0

.66‌

0.00‌

2

.49‌

51‌

52

Notes

to

Financial

Statements

1.

Organization

TIAA-CREF

Funds

(the

“Trust”)

is

a

Delaware

statutory

trust

that

is

registered

with

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

under

the

Investment

Company

Act

of

1940,

as

amended

(“1940

Act”),

as

an

open-end

management

investment

company.

The

following

are

the

TIAA-CREF

Funds

included

in

this

report:

Emerging

Markets

Debt

Fund

and

International

Bond

Fund

(collectively

the

“Funds”

or

individually,

the

“Fund”).

Teachers

Advisors,

LLC

(the

“Adviser”),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Funds.

The

Funds

offer

their

shares,

without

a

sales

load,

through

their

principal

underwriter,

Nuveen

Securities,

LLC

(“Nuveen

Securities”),

which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Funds

offer

six

share

classes:

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W

shares.

Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Current

Fiscal

Period:

 The

end

of

the

reporting

period

for

the Funds

is

October

31,

2023,

and

the

period

covered

by

these

Notes

to

Financial

Statements

is

the

fiscal

year

ended

October

31,

2023

(the

"current

fiscal

period").

2.

Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“U.S.

GAAP”),

which

may

require

the

use

of

estimates

made

by

management

and

the

evaluation

of

subsequent

events.

Actual

results

may

differ

from

those

estimates.

The 

Funds

are

investment

companies

and

follow

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

. The 

net

asset

value 

(“NAV”)

for

financial

reporting

purposes

may

differ

from

the 

NAV

for

processing

transactions.

The 

NAV

for

financial

reporting

purposes

includes

security

and 

shareholder

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the 

NAV

used

for

processing

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds

.

Investments

and

Investment

Income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

Dividend

income

is

recorded

on

the

ex-dividend

date.

Foreign

dividend

income

is

recorded

on

the

ex-dividend

date

or

as

soon

as

possible

after

the Funds

determine

the

existence

of

a

dividend

declaration.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned on

cash

collateral

investments. Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Distributions

received

on

securities

that

represent

a

return

of

capital

or

capital

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The

Funds estimate

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

Operations

and

Allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation

of

a

Fund

are

allocated

on

a

pro

rata

basis

to

each

class

of

shares,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses, which

are

unique

to

each

class

of

shares.

Most

expenses

of

the

Trust

can

be

directly

attributed

to

a

Fund.

Expenses

that

cannot

be

directly

attributed

are

allocated

to

each

Fund

in

the

Trust

based

upon

the

average

net

assets

of

each

Fund.

Distributions

to

Shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

Currency

Transactions

and

Translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

“Net

realized

gain

(loss)”

on

the

Statement

of

Operations,

when

applicable. 

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

as

a

component

of

“Net

change

in

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative’s

related “Net

change

in

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable. 

53

Foreign

Taxes:

The Funds

may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the Funds

invest.

Compensation:

The

Funds pay

the

members

of

the

Board

of

Trustees

(“Board”),

all

of

whom

are

independent,

certain

remuneration

for

their

services,

plus

travel

and

other

expenses.

Trustees

may

elect

to

participate

in

a

deferred

compensation

plan

and

defer

all

or

a

portion

of

their

compensation.

In

addition,

trustees

participate

in

a

long-term

compensation

plan.

Amounts

deferred

are

retained

by

the

Funds

until

paid.

Amounts

payable

to

the

trustees

for

compensation

are

included

separately

in the

accompanying

Statement

of

Assets

and

Liabilities.

Trustees’

fees,

including

any

deferred

and

long-term

compensation

incurred,

are

reflected

in

the

Statement

of

Operations.

Indemnification:

 Under

the

Trust's

organizational

documents,

its

officers

and

trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Basis

for

Consolidation:

The

International

Bond

Fund

is

presented

on

a

consolidated

basis

with

the

TIAA-CREF

International

Bond

Fund

Offshore

Limited

(the

“Regulation

S

Subsidiary”)

and

the

TIAA-CREF

International

Bond

Fund

Taxable

Offshore

Limited

(the

“TEFRA

Bond

Subsidiary”).

Both

the

Regulation

S

Subsidiary

and

TEFRA

Bond

Subsidiary

(the

“Subsidiaries”)

are

wholly

owned

subsidiaries

of

the

International

Bond

Fund

organized

under

the

laws

of

the

Cayman

Islands.

The

Regulation

S

Subsidiary

commenced

operations

on

March

1,

2017

and

is

intended

to

provide

the

Fund

with

exposure

to

Regulation

S

fixed

income

securities.

Regulation

S

securities

are

securities

of

U.S.

and

non-U.S.

issuers

that

are

issued

through

private

placement

transactions

with

the

SEC

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

as

amended.

The

TEFRA

Bond

Subsidiary

commenced

operations

on

September

1,

2022

and

is

intended

to

provide

the

Fund

with

exposure

to

TEFRA

fixed

income

securities.

TEFRA

securities

are

securities

that

are

sold

subject

to

selling

restrictions

generally

designed

to

restrict

the

purchase

of

such

bonds

to

non-U.S.

persons

(as

defined

for

applicable

U.S.

federal

income

tax

purposes).

Both

Subsidiaries

are

advised

by

the

Adviser

and

have

the

same

investment

objective

as

the

Fund

(except

that

the

Regulation

S

Subsidiary

may

invest

without

limitation

in

Regulation

S

securities

and

the

TEFRA

Bond

Subsidiary

may

invest

without

limitation

in

TEFRA

bonds).

All

inter-company

transactions

and

balances

have

been

eliminated.

Select

financial

information

related

to

the

Subsidiary

is

as

follows:

New

Accounting

Pronouncement:

In

March

2020,

FASB

issued

Accounting

Standards

Update

(“ASU”)

2020-04,

Reference

Rate

Reform:

Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting.

The

main

objective

of

the

new

guidance

is

to

provide

relief

to

companies

that

will

be

impacted

by

the

expected

change

in

benchmark

interest

rates,

when

participating

banks

will

no

longer

be

required

to

submit

London

Interbank

Offered

Rate

(LIBOR)

quotes

by

the

UK

Financial

Conduct

Authority

(FCA).

The

new

guidance

allows

companies to,

provided

the

only

changes

to

existing

contracts

are

a

change

to

an

approved

benchmark

interest

rate,

account

for

modifications

as

a

continuance

of

the

existing

contract

without

additional

analysis.

For

new

and

existing

contracts,

the

Fund may

elect

to

apply

the

amendments

as

of

March

12,

2020

through

December

31,

2022.

In

December

2022,

FASB

deferred

ASU

2022-04

and

issued

ASU

2022-06,

Reference

Rate

Reform:

Deferral

of

the

Sunset

Date

of

Topic

848,

which

extends

the

application

of

the

amendments

through

December

31,

2024.

Management

has

not

yet

elected

to

apply

the

amendments,

is

continuously

evaluating

the

potential

effect

a

discontinuation

of

LIBOR

could

have

on

the

Funds' investments

and

has

currently

determined

that

it

is

unlikely

the

ASU’s

adoption

will

have

a

significant

impact

on

the Funds' financial

statements

and

various

filings.

New

Accounting

Pronouncement:

 In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

(“Topic

820”).

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1)

clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2)

amends

a

related

illustrative

example,

and

(3)

introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820.

For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

During

the

current

fiscal

period,

the Funds adopted

the

new

guidance

and

there

was

no

material

impact

to

the

Funds.

Regulation

S

Subsidiary

TEFRA

Bond

Subsidiary

Total

market

value

of

investments

$33,762,602

$5,478,353

Net

assets

33,777,368

5,863,035

Net

investment

income

(loss)

795,305

105,861

Net

realized

gain

(loss)

(1,043,737)

92,432

Net

change

in

unrealized

appreciation

(depreciation)

3,269,536

(60,212)

%

of

Fund's

consolidated

net

assets

9%

2%

Notes

to

Financial

Statements

(continued)

54

3.

Investment

Valuation

and

Fair

Value

Measurements

The Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Prices

of

fixed-income

securities

are

provided

by

pricing

services

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security’s

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2.

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

For

events

affecting

the

value

of

foreign

securities

between

the

time

when

the

exchange

on

which

they

are

traded

closes

and

the

time

when

the Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1.

When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. 

Forward

foreign

currency

contracts

are

valued

using

the

prevailing

forward

exchange

rate

which

is

derived

from

quotes

provided

by

the

pricing

service

using

the

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board,

and

are

classified

as

Level

2.

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2.

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. 

The

following

table

summarizes

the

market

value

of

the Funds’

investments

as

of

the

end

of

the

current

fiscal

period, based

on

the

inputs

used

to

value

them:

55

4.

Investments

Repurchase

Agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund’s policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

Securities

Lending:

Certain Funds

may

lend

their

securities

to

qualified

institutional

borrowers

to

earn

additional

income.

A

Fund receives

collateral

(in

the

form

of

cash,

Treasury

securities

or

other

collateral

permitted

by

applicable

law)

against

the

loaned

securities

and

maintains

collateral

in

an

amount

not

less

than

100%

of

the

market

value

of

loaned

securities

during

the

period

of

the

loan;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the Fund

the

next

business

day.

Cash

collateral

received

by the

Fund will

generally

be

invested

in

high-quality

short-term

instruments

or

in

one

or

more

funds

maintained

by

the

securities

lending

agent

(“Agent”)

for

the

purpose

of

investing

cash

collateral.

The

value

of

the

loaned

securities

and

the

liability

to

return

the

cash

collateral

received

are

reflected

in

the

Statement

of

Assets

and

Liabilities.

Non-cash

collateral

is

not

disclosed

in

the

Funds’

Statement

of

Assets

and

Liabilities

as

it

is

held

by

the Agent

or

by

a

third-party

bank

engaged

by

the

Agent

as

a

special

"tri-party" custodian on

behalf

of

the Funds,

and

the

Funds

do

not

have

the

ability

to

sell

or

re-hypothecate

those

securities.

As

of

the

end

of

the

current

fiscal

period,

securities

lending

transactions are

for fixed

income

securities,

and

the

resulting

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

Securities

lending

income

recognized

by

the

Funds consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

reflected

separately

in

the

Statement

of

Operations.

In

lending

its

securities,

a

Fund bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned. 

As

of

the

end

of

the

current

fiscal

period,

the

total

value

of

securities

on

loan

and

the

total

value

of

collateral

received

were

as

follows:

Fund

Level

1

Level

2

Level

3

Total

Emerging

Markets

Debt

Long-Term

Investments

:

Bank

loan

obligations

$—

$1,827,230

$—

$1,827,230

Corporate

bonds

—

205,951,258

595,961

206,547,219

Government

bonds

—

215,264,131

—

215,264,131

Structured

assets

—

—

2,461,590

2,461,590

Common

stocks

—

3,912,366

—

3,912,366

Short-Term

Investments

:

Repurchase

agreement

—

8,667,000

—

8,667,000

Treasury

debt

—

3,275,521

—

3,275,521

Investments

purchased

with

collateral

from

securities

lending

5,509,039

—

—

5,509,039

Investments

in

Derivatives

:

Forward

foreign

currency

contracts*

—

12,764

—

12,764

Total

$5,509,039

$438,910,270

$3,057,551

$447,476,860

1

1

1

1

1

International

Bond

Long-Term

Investments

:

Bank

loan

obligations

$—

$1,147,839

$—

$1,147,839

Corporate

bonds

—

78,657,322

716,177

79,373,499

Government

bonds

—

247,728,156

112,692

247,840,848

Structured

assets

—

21,197,283

—

21,197,283

Short-Term

Investments

:

Commercial

paper

—

9,853,590

—

9,853,590

Government

agency

debt

—

791,874

—

791,874

Repurchase

agreement

—

7,742,000

—

7,742,000

Investments

purchased

with

collateral

from

securities

lending

1,114,105

—

—

1,114,105

Investments

in

Derivatives

:

Forward

foreign

currency

contracts*

—

1,605,212

—

1,605,212

Total

$1,114,105

$368,723,276

$828,869

$370,666,250

1

1

1

1

1

*

Represents

net

unrealized

appreciation

(depreciation).

Notes

to

Financial

Statements

(continued)

56

Zero

Coupon

Securities:

A

zero

coupon

security

does

not

pay

a

regular

interest

coupon

to

its

holders

during

the

life

of

the

security.

Income

to

the

holder

of

the

security

comes

from

accretion

of

the

difference

between

the

original

purchase

price

of

the

security

at

issuance

and

the

par

value

of

the

security

at

maturity

and

is

effectively

paid

at

maturity.

The

market

prices

of

zero

coupon

securities

generally

are

more

volatile

than

the

market

prices

of

securities

that

pay

interest

periodically.

Purchases

and

Sales:

 Long-term

purchases

and

sales

during

the

current

fiscal

period were

as

follows:

The Funds

may

purchase

securities

on

a

when-issued

or

delayed-delivery

basis.

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

If

the

Funds have

when-issued/delayed-delivery

purchases

commitments

as

of

the

end

of

the

reporting

period,

such

amounts

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

5.

Derivative

Investments

Each Fund is

authorized

to

invest

in

certain

derivative

instruments.

As

defined

by

U.S.

GAAP,

a

derivative is

a

financial

instrument

whose

value

is

derived

from

an

underlying

security

price,

foreign

exchange

rate,

interest

rate,

index

of

prices

or

rates,

or

other

variables.

Investments

in

derivatives

as

of

the

end

of

and/or

during

the

current

fiscal

period,

if

any,

are

included

within

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations,

respectively.

Forward

Foreign

Currency

Contracts:

Certain Funds

may

use

forward

foreign

currency

contracts

("forward

contracts")

to

hedge portfolio

currency

risk

and

to

facilitate

transactions

in

securities

denominated in

foreign

currencies

in

the

normal

course

of

pursuing

their

investment

objectives.

A

forward

contract

is

an

agreement

between

two

parties

to

purchase

or

sell

a

specified

quantity

of

a

currency

at

or

before

a

specified

date

in

the

future

at

a

specified

price.

Non-deliverable

forward

foreign

currency

exchange

contracts

are

settled

with

the

counterparty

in

cash

without

the

delivery

of

foreign

currency.

Forward

contracts

are

typically

traded

in

the

over-the-counter

(“OTC”)

markets

and

all

details

of

the

contract

are

negotiated

between

the

counterparties

to

the

agreement.

Forward

contracts

are

marked-to-market

daily

and

any

resulting

unrealized

gains

or

losses

are

reflected

as

appreciation

or

depreciation

on

the

Statement

of

Assets

and

Liabilities.

The Funds

realize

gains

and

losses

at

the

time

the

forward

contracts

are

closed

and

are

included

on

the

Statement

of

Operations.

Risks

may

arise

upon

entering

into

forward

contracts

from

unanticipated

movements

in

the

value

of

a

foreign

currency

relative

to

the

U.S.

dollar;

and

that

losses

may

exceed

amounts

recognized

on

the

Statement

of

Assets

and

Liabilities.

The

average

notional

amount

of

forward

contracts

outstanding

during

the

current

fiscal

period

was

as

follows:

At

the

end

of

the

reporting

period,

the

following Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statement

of

Assets

and

Liabilities

as

follows:

Aggregate

Value

of

Securities

on

Loan

Fund

Fixed

Income

Securities

Cash

Collateral

Received*

Non-Cash

Collateral

Received

Total

Collateral

Received

Emerging

Markets

Debt

$6,353,171

$5,509,039

$1,121,986

$6,631,025

International

Bond

1,072,326

1,114,105

–

1,114,105

*May

include

cash

and

investment

of

cash

collateral.

Fund

Non-U.S.

Government

Purchases

U.S.

Government

Purchases

Non-U.S.

Government

Sales

U.S.

Government

Sales

6.1

Emerging

Markets

Debt

$

121,458,064

$

–

$

203,668,907

$

–

6.2

International

Bond

106,612,765

3,291,689

99,308,766

2,957,687

Fund

Average

Notional

Amount

of

Forward

Contracts

Outstanding*

6.1

Emerging

Markets

Debt

$

2,671,397

6.2

International

Bond

326,204,329

*

The

average

notional

amount

is

calculated

based

on

the

outstanding

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

Emerging

Markets

Debt

Fund

Forward

foreign

currency

contracts

Foreign

currency

exchange

rate

Unrealized

appreciation

on

forward

contracts

$

12,764

-

$

–

1

1

1

1

1

1

1

1

International

Bond

Fund

Forward

foreign

currency

contracts

Foreign

currency

exchange

rate

Unrealized

appreciation

on

forward

contracts

2,247,293

Unrealized

depreciation

on

forward

contracts

(

642,081

)

1

1

1

1

1

1

1

1

57

During

the

current

fiscal

period,

the

effect

of

derivative

contracts

on

the Funds'

Statement

of

Operations

was

as

follows:

6.

Fund

Shares

Transactions

in

Fund

shares

during

the

current

and

prior

fiscal

period

were

as

follows:

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

6.1

Emerging

Markets

Debt

Fund

Forward

contracts

Foreign

currency

exchange

rate

$

77,870

$

12,764

6.2

International

Bond

Fund

Forward

contracts

Foreign

currency

exchange

rate

(

3,958,793

)

(

2,435,480

)

Year

Ended

10/31/23

Year

Ended

10/31/22

6.1

Emerging

Markets

Debt

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

7,493,746

$

59,917,681

2,769,736

$

24,070,494

Advisor

Class

379,912

3,048,845

1,650,967

13,453,882

Premier

Class

12

99

69

654

Retirement

Class

611,900

4,837,704

269,859

2,442,759

Retail

Class

6,411,310

51,047,259

3,356,330

28,247,943

Class

W

6,999,927

55,552,177

21,570,782

182,749,480

Total

subscriptions

21,896,807

174,403,765

29,617,743

250,965,212

Reinvestments

of

distributions:

Institutional

Class

451,577

3,546,330

289,085

2,488,331

Advisor

Class

80,319

632,013

114,535

974,329

Premier

Class

27

210

23

193

Retirement

Class

118,377

928,258

105,150

899,292

Retail

Class

101,212

793,979

85,814

749,791

Class

W

1

8

–

–

Total

reinvestments

of

distributions

751,513

5,900,798

594,607

5,111,936

Redemptions:

Institutional

Class

(

2,517,975

)

(

19,872,665

)

(

5,982,255

)

(

54,216,258

)

Advisor

Class

(

1,573,468

)

(

12,528,733

)

(

1,262,730

)

(

10,450,767

)

Premier

Class

–

–

–

–

Retirement

Class

(

441,790

)

(

3,472,799

)

(

425,603

)

(

3,715,544

)

Retail

Class

(

6,180,507

)

(

49,053,955

)

(

3,829,112

)

(

32,186,716

)

Class

W

(

22,462,781

)

(

177,133,203

)

(

10,092,773

)

(

83,967,139

)

Total

redemptions

(

33,176,521

)

(

262,061,355

)

(

21,592,473

)

(

184,536,424

)

Net

increase

(decrease)

from

shareholder

transactions

(

10,528,201

)

$

(

81,756,792

)

8,619,877

$

71,540,724

Year

Ended

10/31/23

Year

Ended

10/31/22

6.2

International

Bond

Fund

Shares

Amount

Shares

Amount

Subscriptions:

Institutional

Class

12,280

$

91,077

10,579

$

108,013

Advisor

Class

130,698

1,031,026

248,625

2,222,292

Premier

Class

–

–

–

–

Retirement

Class

112,099

889,836

70,321

663,466

Retail

Class

19,165

151,747

15,027

136,282

Class

W

13,060,334

104,191,449

10,945,962

98,208,491

Total

subscriptions

13,334,576

106,355,135

11,290,514

101,338,544

Reinvestments

of

distributions:

Institutional

Class

3,631

28,542

6,699

57,534

Advisor

Class

152

1,199

1,937

15,563

Premier

Class

–

–

–

–

Retirement

Class

26,020

204,513

46,285

396,274

Retail

Class

8,158

64,204

14,628

124,685

Class

W

–

–

414,817

4,061,058

Total

reinvestments

of

distributions

37,961

298,458

484,366

4,655,114

Redemptions:

Institutional

Class

(

4,070

)

(

32,418

)

(

11,751

)

(

102,231

)

Advisor

Class

(

1,031

)

(

8,154

)

(

249,055

)

(

2,169,777

)

Premier

Class

–

–

–

–

Retirement

Class

(

127,433

)

(

1,010,938

)

(

132,140

)

(

1,188,367

)

Retail

Class

(

25,718

)

(

204,416

)

(

22,354

)

(

186,770

)

Class

W

(

13,551,580

)

(

108,216,756

)

(

16,672,825

)

(

148,162,366

)

Total

redemptions

(

13,709,832

)

(

109,472,682

)

(

17,088,125

)

(

151,809,511

)

Net

increase

(decrease)

from

shareholder

transactions

(

337,295

)

$

(

2,819,089

)

(

5,313,245

)

$

(

45,815,853

)

Notes

to

Financial

Statements

(continued)

58

7.

Income

Tax

Information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund’s

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund’s

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund’s

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

foreign

currency

transactions

and

tax

treatment

of

earnings

and

profits

from

the

TEFRA

Bond

Subsidiary.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund’s

net

assets.

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable. 

As

of

year end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

The

tax

character

of

distributions

paid was

as

follows:

As

of year end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

8.

Investment

Adviser

and

Other

Transactions

with

Affiliates

Under

the

terms

of

the

Investment

Management

Agreement

with

respect

to

each

Fund, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Funds

have

entered

into

an

Administrative

Service

Agreement

with

the

Adviser

under

which

the

Funds

pay the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Funds.

Each

Subsidiary

has

entered

into

an

investment

management

agreement

with

the

Adviser.

Under

these

agreements,

the

Adviser

provides

the

same

management

services

to

the

Subsidiaries

as

it

does

to

the

International

Bond

Fund.

Advisors

is

not

compensated

directly

by

the

Subsidiaries

for

their

services,

rather

they

are

provided

a

management

fee

on

the

average

net

assets

of

the

Fund

which

includes

investments

in

the

Subsidiaries.

The

Fund

bears

all

operating

expenses

of

the

Regulation

S

Subsidiary.

The

TEFRA

Bond

Subsidiary

bears

all

of

its

operating

expenses,

which

the

Fund

indirectly

bears

through

its

investments

in

the

TEFRA

Bond

Subsidiary. 

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

6.1

Emerging

Markets

Debt

$556,885,535

$428,494

$(109,837,169)

$(109,408,675)

6.2

International

Bond

452,346,739

3,590,370

(84,930,961)

(81,340,591)

Fund

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital

Gains

Unrealized

Appreciation

(Depreciation)

Capital

Loss

Carryforwards

Late-Year

Loss

Deferrals

Other

Book-to-Tax

Differences

Total

6.1

Emerging

Markets

Debt

$4,137,228

$–

$(109,431,088)

$(38,723,637)

$–

$(11,619)

$(144,029,116)

6.2

International

Bond

1,670,862

–

(81,790,637)

(21,816,277)

–

(7,383)

(101,943,435)

10/31/23

10/31/22

Fund

Ordinary

Income

Long-Term

Capital

Gains

Ordinary

Income

Long-Term

Capital

Gains

6.1

Emerging

Markets

Debt

$

30,531,258

$

–

$

33,906,728

$

–

6.2

International

Bond

17,469,060

–

39,488,304

2,993,471

Fund

Short-Term

Long-Term

Total

6.1

Emerging

Markets

Debt

$

8,539,538

$

30,184,099

$

38,723,637

6.2

International

Bond

11,063,670

10,752,607

21,816,277

59

Under

the

terms

of

a

Retirement

Class

Service

Agreement

with

respect

to

each

Fund,

the

Retirement

Class

of

the

Fund

incurs

an

annual

fee

of

0.25%

of

the

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain

administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statements

of

operations

are

paid

to

the

Adviser

under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

each

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Retail

Class.

The

Premier

Class

of

each

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Premier

Class.

The

Adviser has

contractually

agreed

to

waive

and/or

reimburse

Class

W’s

shares’

Management

fees

and

Other

expenses

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses,

trustee

expenses

and

extraordinary

expenses)

in

their

entirety.

The

Adviser

expects

this

waiver

and/or

reimbursement

to

remain

in

effect

indefinitely,

unless

changed

or

terminated

with

approval

of

the

Board.

The

Management

fees

and

Other

expenses

of

Class

W

shares

that

have

been

waived

by the

Adviser may

be

incurred

directly

or

indirectly,

all

or

in

part,

by

investors

in

Class

W

shares.

The

Adviser

has

agreed

to

reimburse

each

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

the

end

of

the

current

fiscal

period,

the

investment

management

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Effective

May

1,

2023,

for

a

one

year

period, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

This

waiver

is

voluntary

in

nature

and

can

be

discontinued

at

any

time

without

prior

notice

to

shareholders

upon

Board

approval.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Prior

to

May

1,

2023, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class,

inclusive

of

voluntary

and

contractual

waivers:

Investment

Management

Fee

Range

Investment

Management

Fee-

Effective

Rate

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

6.1

Emerging

Markets

Debt*

0

.450

%

—

0

.550

%

0

.550

%

0

.650

%

0

.800

%

0

.800

%

0

.900

%

1

.000

%

0

.650

%

6.2

International

Bond*

0

.400

%

—

0

.500

%

0

.500

0

.600

0

.750

0

.750

0

.850

0

.950

0

.600

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

February

29,

2024.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

Management

Fee

Range

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

6.2

International

Bond*

0

.400

%

—

0

.500

%

0

.595

%

0

.745

%

0

.745

%

0

.845

%

0

.945

%

0

.595

%

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

Management

Fee

Range

Maximum

Expense

Amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

6.1

Emerging

Markets

Debt*

0

.450

%

—

0

.550

%

0

.650

%

0

.800

%

0

.800

%

0

.825

%

1

.000

%

0

.650

%

6.2

International

Bond*

0

.400

%

—

0

.500

%

0

.585

0

.750

0

.750

0

.850

0

.950

0

.585

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

Notes

to

Financial

Statements

(continued)

60

The Funds may

purchase

or

sell

investment

securities

in

transactions

with

affiliated

entities

under

procedures

adopted

by

the

Board,

pursuant

to

the

1940

Act.

These

transactions

are

effected

at

market

rates

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

did

not

engage

in

security

transactions

with

affiliated

entities. 

The

following

is

the

percentage

of

the

Funds'

shares

owned

by

affiliates

as

of

the

end

of

the

current

fiscal

period:

9.

Emerging

Markets

Risks

The

Emerging

Markets

Debt

Fund

holds

a

large

portion

of

its

assets

in

emerging

market

securities.

Emerging

market

securities

are

often

subject

to

greater

price

volatility,

less

liquidity

and

higher

rates

of

inflation

and

deflation

than

U.S.

securities.

In

addition,

emerging

markets

may

be

subject

to

greater

political,

economic

and

social

uncertainty,

and

differing

regulatory

environments

that

may

potentially

impact

the

Fund’s

ability

to

buy

or

sell

certain

securities

or

repatriate

proceeds

to

U.S.

dollars.

10.

Inter-Fund

Lending

Program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Funds may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Funds to

lend

cash

to

and/or

borrow

cash

from

certain

other

affiliated

Funds for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

no

Fund may

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

a

Fund may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund’s investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During the current

fiscal

period,

there

were

no

inter-fund

borrowing

or

lending

transactions. 

11.

Line

of

Credit

The Funds

participate

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

13,

2023

expiring

on

June

11,

2024,

replacing

the

previous facility,

which

expired

June

2023.

Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by the

Adviser,

or

an

affiliate

of

the

Adviser, also

participate

in

this

facility.

An

annual

commitment

fee

for

the

credit

facility

is

borne

by

the

participating

accounts

and

mutual

funds

on

a

pro

rata

basis.

Interest

associated

with

any

borrowing

under

the

facility

is

charged

to

the

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The Funds are

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

There

were

no

borrowings

under

this

credit

facility

by

the

Funds during

the

current fiscal

period.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Underlying

Fund

TIAA-CREF

Lifecycle

Funds

Total

6.1

Emerging

Markets

Debt

74

%

74

%

6.2

International

Bond

98

98

Important

Tax

Information

(Unaudited)

61

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-Term

Capital

Gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

allowable

amount,

as

being

from net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code: 

Qualified

interest

income

(QII)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

interest

income

and/or

short-term

capital

gain

dividends pursuant

to

Section

871(k)

of

the

Internal

Revenue

Code:

163(j)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

dividends

treated

as

Section

163(j)

interest

dividends

pursuant

to

Section

163(j)

of

the

Internal

Revenue

Code: 

Fund

Net

Long-Term

Capital

Gains

6.1

Emerging

Markets

Debt

$

–

6.2

International

Bond

–

Fund

Prior

Year

End

to

12/31

Percentage

1/1

to

Current

Year

End

Percentage

6.1

Emerging

Markets

Debt

4

.9

%

1

.2

%

6.2

International

Bond

3

.6

—

Fund

Percentage

6.1

Emerging

Markets

Debt

97

.5

%

6.2

International

Bond

24

.3

Additional

Fund

Information

(Unaudited)

©2023

Teachers

Insurance

and

Annuity

Association

of

America—College

Retirement

Equities

Fund,

730

Third

Avenue,

New

York,

NY

10017-3206

62

Portfolio

holdings

The

TIAA-CREF

Funds

file

complete

portfolio

listings

with

the

Securities

and

Exchange

Commission

(SEC),

and

they

are

available

to

the

public.

You

can

obtain

a

complete

list

of

the

TIAA-CREF

Funds’

holdings

(Portfolios

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

websites

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

TIAA-CREF

Funds’

portfolio

holdings

as

of

the

most

recently

completed

fiscal

quarter,

and

for

prior

quarter-ends,

from

our

SEC

Form

N-CSR

and

Form

N-PORT

filings.

Form

N-CSR

filings

are

as

of

October

31

or

April

30;

Form

N-PORT

filings

are

as

of

January

31

or

July

31.

Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC’s

website

at

sec.gov;

or

From

the

SEC’s

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

TIAA-CREF

Funds’

ownership

of

stock

gives

it

the

right

to

vote

on

proxy

issues

of

companies

in

which

it

invests.

A

description

of

our

proxy

voting

policies

and

procedures

can

be

found

on

our

website

at

TIAA.org

or

on

the

SEC’s

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

to

request

a

free

copy.

A

report

of

how

the

funds

voted

during

the

most

recently

completed

twelve-month

period

ended

June

30

can

be

found

on

our

website

or

on

Form

N-PX

at

sec.gov.

Contacting

TIAA

There

are

three

easy

ways

to

contact

us:

by

email,

using

the

Contact

Us

link

at

the

top

of

our

home

page;

by

mail

at

TIAA,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

TIAA-CREF

Funds

are

managed

by

the

portfolio

management

teams

of

Teachers

Advisors,

LLC.

The

members

of

these

teams

are

responsible

for

the

day-to-day

investment

management

of

the

funds.

You

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

information,

please

visit

TIAA.org,

or

call

800-842-2252

for

the

Institutional,

Advisor,

Premier,

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

Please

read

the

prospectus

carefully

before

investing.

Investment,

insurance

and

annuity

products

are

not

Federal

Deposit

Insurance

Corporation

(FDIC)

insured,

are

not

bank

guaranteed,

are

not

bank

deposits,

are

not

insured

by

any

federal

government

agency,

are

not

a

condition

to

any

banking

service

or

activity,

and

may

lose

value.

Nuveen,

a

subsidiary

of

TIAA,

provides

investment

advice

and

portfolio

management

services

through

a

dozen

affiliated

registered

investment

advisers.

Nuveen

Securities,

LLC

and

TIAA-CREF

Individual

&

Institutional

Services,

LLC,

members

FINRA,

distribute

securities

products.

This

material

is

for

informational

or

educational

purposes

only

and

does

not

constitute

fiduciary

investment

advice

under

ERISA,

a

securities

recommendation

under

all

securities

laws,

or

an

insurance

product

recommendation

under

state

insurance

laws

or

regulations.

This

material

does

not

take

into

account

any

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor’s

own

objectives

and

circumstances.

Trustees

and

Officers

(Unaudited)

October

31,

2023

63

Trustees

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Forrest

Berkley

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2006.

Partner

(1990-2005)

and

Head

of

Global

Product

Management

(2003-2005),

GMO

(formerly,

Grantham,

Mayo,

Van

Otterloo

&

Co.)

(investment

management);

and

member

of

asset

allocation

portfolio

management

team,

GMO

(2003-2005).

88

Investment

Committee

Member,

Maine

Community

Foundation.

Joseph

A.

Boateng

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Trustee

Indefinite

term.

Trustee

since

2019.

Chief

Investment

Officer,

Casey

Family

Programs

(since

2007).

88

Board

member,

Lumina

Foundation

and

Waterside

School;

Emeritus

Board

Member,

Year-Up

Puget

Sound;

Investment

Advisory

Committee

Member,

Seattle

City

Employees’

Retirement

System;

Investment

Committee

Member,

The

Seattle

Foundation.

Joseph

A.

Carrier

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1960

Trustee

Indefinite

term.

Trustee

since

2023.

Senior

Vice

President,

Enterprise

Risk

Management,

Franklin

Resources,

Inc.

(2020-2022).

Senior

Managing

Director,

Chief

Risk

Officer

and

Chief

Audit

Executive,

Legg

Mason,

Inc.

(2008-2020).

88

Director,

Franklin

Templeton

Irish

Funds;

Board

Member,

Cal

Ripken,

Sr.

Foundation;

Advisory

Board

Member,

Loyola

University

Maryland,

Sellinger

School

of

Business

and

Management.

Janice

C.

Eberly

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2018.

Distinguished

Senior

Fellow,

MIT

Sloan

and

Golub

Center

for

Finance

and

Policy

(since

2023).  James

R.

and

Helen

D.

Russell

Professor

of

Finance

at

the

Kellogg

School

of

Management,

Northwestern

University

(2002-2011

and

since

2013),

Senior

Associate

Dean

for

Strategy

and

Academics

(2020-2023)

and

Chair

of

the

Finance

Department

(2005-2007).

Vice

President,

American

Economic

Association

(2020-2021).

Assistant

Secretary

for

Economic

Policy,

United

States

Department

of

the

Treasury

(2011-2013).

88

Member

of

the

Board

of

the

Office

of

Finance,

Federal

Home

Loan

Banks;

Director,

Avant,

LLC.

Nancy

A.

Eckl

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.  

Trustee

since

2007.

Vice

President

(1990–2006),

American

Beacon

Advisors,

Inc.

and

of

certain

funds

advised

by

American

Beacon

Advisors,

Inc.

88

Independent

Director

and

Audit

Committee

Chair,

The

Lazard

Funds,

Inc.,

Lazard

Retirement

Series,

Inc.

and

Lazard

Global

Total

Return

and

Income

Fund,

Inc.

Michael

A.

Forrester

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1967

Trustee

Indefinite

term.  

Trustee

since

2007.

Chief

Executive

Officer

(2014–2021)

and

Chief

Operating

Officer

(2007–2014),

Copper

Rock

Capital

Partners,

LLC.

88

Trustee,

Dexter

Southfield

School;

Member,

Governing

Council

of

the

Independent

Directors

Council.

Howell

E.

Jackson

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2005.

Special

Adviser,

White

House

Council

of

Economic

Advisers

(since

2023).

James

S.

Reid,

Jr.

Professor

of

Law

(since

2004),

Senior

Adviser

to

President

and

Provost

(2010–2012),

Acting

Dean

(2009),

Vice

Dean

for

Budget

(2003–2006)

and

on

the

faculty

(since

1989)

of

Harvard

Law

School.

88

Nicole

Thorne

Jenkins

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Trustee

Indefinite

term.

Trustee

since

2023.

John

A.

Griffin

Dean

of

the

McIntire

School

of

Commerce

at

the

University

of

Virginia

(since

2020).  Vice

Dean

(2016–2020),

Von

Allmen

Chaired

Professor

of

Accountancy

(2017–2020),

Associate

Professor

and

EY

Research

Fellow

(2012–2017),

Gatton

College

of

Business

and

Economics

at

the

University

of

Kentucky.

88

Trustee

and

Chair

of

the

Audit

&

Finance

Committee,

Strada

Education

Network;

Treasurer

and

Director,

The

Montpelier

Foundation.

Thomas

J.

Kenny

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Chairman

of

the

Board

and

Trustee

Indefinite

term.

Trustee

since

2011;

Chairman

for

term

ending

June

30,

2023.

Chairman

since

September

13,

2017.

Advisory

Director

(2010–2011),

Partner

(2004–2010),

Managing

Director

(1999–2004)

and

Co-Head

of

Global

Cash

and

Fixed

Income

Portfolio

Management

Team

(2002–2010),

Goldman

Sachs

Asset

Management.

88

Director

and

Chair

of

the

Finance

and

Investment

Committee,

Aflac

Incorporated;

Director,

ParentSquare.

Trustees

and

Officers

(Unaudited)

(continued)

October

31,

2023

64

Officers

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

James

M.

Poterba

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1958

Trustee

Indefinite

term.

Trustee

since

2006.

President

and

Chief

Executive

Officer

(since

2008)

and

Program

Director

(1990-2008),

National

Bureau

of

Economic

Research.

Mitsui

Professor

of

Economics,

Massachusetts

Institute

of

Technology

(“MIT”)

(since

1996);

Affiliated

Faculty

Member

of

the

Finance

Group,

Alfred

P.

Sloan

School

of

Management

(since

2014);

Head

(2006–2008)

and

Associate

Head

(1994–2000

and

2001–2006),

Economics

Department

of

MIT.

88

Director,

National

Bureau

of

Economic

Research;

Member,

Congressional

Budget

Office

Panel

of

Economic

Advisers.

Loren

M.

Starr

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1961

Trustee

Indefinite

term.

Trustee

since

2022.

Independent

Consultant/Advisor

(since

2021).

Vice

Chair,

Senior

Managing

Director

(2020–2021),

Chief

Financial

Officer,

Senior

Managing

Director

(2005–

2020),

Invesco

Ltd.

88

Director,

AMG.

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

Richard

S.

Biegen

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1962

Chief

Compliance

Officer

One-year

term.

Chief

Compliance

Officer

since

2008.

Senior

Managing

Director,

TIAA.

Chief

Compliance

Officer

of

the

College

Retirement

Equities

Fund

(“CREF”),

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

(collectively,

the

“TIAA-CREF

Fund

Complex”).

Claire

Borelli

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1960

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2023.

Senior

Executive

Vice

President,

Chief

People

Officer

of

TIAA

and

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Vice

President,

Chief

Diversity

&

Talent

Officer,

TIAA.

Prior

to

joining

TIAA,

Ms.

Borelli

served

as

Chief

Human

Resources

Officer

for

the

Consumer

Bank

and

Wealth

Management

sectors

of

JPMorgan

Chase

&

Co.

Derek

B.

Dorn

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:  1976

Senior

Managing

Director

and

Corporate

Secretary

One-year

term.

Senior

Managing

Director

and

Corporate

Secretary

since

2020.

Senior

Managing

Director

and

Corporate

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”)

and

the

TIAA-CREF

Fund

Complex.

Formerly,

Managing

Director,

Special

Assistant

to

the

CEO

and

Managing

Director,

Regulatory

Affairs,

TIAA.

Prior

to

joining

TIAA,

Mr.

Dorn

served

as

a

partner

at

Davis

&

Harman

LLP

and

an

adjunct

professor

of

Law

at

Georgetown

University

Law

Center.

John

L.

Douglas

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1950

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

One-year

term.

Executive

Vice

President

since

2021

and

Chief

Legal,

Risk

and

Compliance

Officer

since

2022.

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA.

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Senior

Advisor

to

the

CEO,

and

Senior

Executive

Vice

President,

Chief

Advocacy

&

Oversight

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Douglas

was

a

Partner

at

Davis

Polk

&

Wardwell

LLP.

W.

Dave

Dowrich

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1967

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022.

Senior

Executive

Vice

President

and

Chief

Financial

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Prior

to

joining

TIAA,

Mr.

Dowrich

served

as

Chief

Financial

Officer,

International

Businesses

at

Prudential

Financial,

Inc.

Bradley

Finkle

TIAA

730

Third

Avenue

New

York,

NY   10017-3206

YOB:

1973

Principal

Executive

Officer

and

President

One-year

term.

Principal

Executive

Officer

and

President

since

2017.

Executive

Vice

President,

Head

of

Complementary

Businesses

and

Chief

Administrative

Officer

of

the

Chief

Operating

Office,

TIAA.

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

Formerly,

Executive

Vice

President,

Chief

Operating

Officer,

Nuveen;

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

VA-1;

and

Senior

Managing

Director,

Co-Head

Nuveen

Equities

&

Fixed

Income

and

President

of

TIAA

Investments.

Jose

Minaya

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1971

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018.

Chief

Executive

Officer,

Nuveen.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Executive

Vice

President,

President

and

Chief

Investment

Officer,

Nuveen;

Executive

Vice

President,

Chief

Investment

Officer

and

President,

Nuveen

Global

Investments;

and

Senior

Managing

Director,

President,

Global

Investments,

TIAA.

65

Please

note

that

the

Funds’

Statement

of

Additional

Information

(SAI)

includes

additional

information

about

the

Funds’

trustees

and

is

available,

without

charge,

through

our

website,

tiaa.org,

or

by

calling

800

223-1200.

Name,

address

and

year

of

birth

(“YOB”)

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

5

years

Colbert

Narcisse

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1965

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022.

Senior

Executive

Vice

President,

Chief

Product

and

Business

Development

Officer

of

TIAA.

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

VA-1.

Executive

Vice

President

of

TIAA-CREF

Funds

and

TIAA-

CREF

Life

Funds.

Formerly,

Executive

Vice

President

and

Head

of

Advisory

and

Corporate

Solutions,

TIAA.

Prior

to

joining

TIAA,

Mr.

Narcisse

served

as

Managing

Director

and

Head

of

International

Wealth

Management

and

Head

of

Traditional

and

Alternative

Investment

Products

at

Morgan

Stanley.

David

G.

Nason

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2020.

Senior

Executive

Vice

President,

Chief

Operating

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA,

Executive

Vice

President,

Chief

Risk

and

Compliance

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Nason

served

as

President

and

CEO

of

GE

Energy

Financial

Services.

E.

Scott

Wickerham

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1973

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

One-year

term.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

since

2017.

Senior

Managing

Director,

Head

of

Finance

for

Equities

and

Fixed

Income,

Nuveen.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

of

the

TIAA-CREF

Fund

Complex;

and

Vice

President

and

Controller

of

the

Nuveen

Funds.

Formerly,

Senior

Managing

Director,

Head,

Public

Investment

Finance,

Nuveen,

and

Managing

Director,

Head,

TC

Fund

Administration,

Nuveen.

3191749

We’re

fond

of

paper...in

its

original

form.

Switch

to

eDelivery

at

TIAA.org/eDelivery

or

check

with

your

financial

advisor

or

brokerage

account

for

eDelivery

options

A15653

(12/23)

Item 2.  Code of Conduct.

2(a)    The Board of Trustees of the TIAA-CREF Funds (the “Registrant”) has adopted a code of conduct for senior financial officers, including the Registrant’s principal executive officer, principal financial officer, principal accounting officer, or controller, and persons performing similar functions, in conformity with rules promulgated under the Sarbanes-Oxley Act of 2002.

2(b)    No response required.

2(c)    During the reporting period, there were no material amendments to the code of conduct.

2(d)    During the reporting period, there were no implicit or explicit waivers granted by the Registrant from any provision of the code of conduct.

2(e)    Not applicable.

2(f)    The Registrant has posted the code of ethics on its website at

          www.tiaa.org/public/pdf/c/code_of_conduct.pdf.

Item 3.  Audit Committee Financial Expert.

3(a)(1)  The Registrant’s Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its Audit and Compliance Committee.

3(a)(2)  Thomas J. Kenny is the Registrant’s audit committee financial expert and is “independent” for purposes of Item 3 of Form N-CSR.

Item 4.  Principal Accountant Fees and Services.

PricewaterhouseCoopers LLP (“PwC”) performs independent audits of the Registrant’s financial statements. To maintain auditor independence and avoid even the appearance of conflicts of interest, the Registrant, as a policy, does not engage PwC for management advisory or consulting services.

The aggregate fees billed by PwC as disclosed below for the fiscal year ended October 31, 2022 may not align with the figures reported and filed with the Securities and Exchange Commission in the Form N-CSR for the fiscal year ended October 31, 2022 because the fees disclosed in this Form N-CSR reflect fees updated after the date of the October 31, 2022 Form N-CSR.

4(a)    Audit Fees.

For the fiscal years ended October 31, 2023 and October 31, 2022, PwC’s aggregate fees for the audit of the Registrant’s annual financial statements were $1,102,764 and $1,050,541, respectively.

4(b)    Audit Related Fees.

For the fiscal years ended October 31, 2023 and October 31, 2022, PwC’s aggregate fees for services related to the performance of the audit of the Registrant’s annual financial statements were $0 and $0, respectively.

For the fiscal years ended October 31, 2023 and October 31, 2022, the Audit-Related Fees billed by PwC to Teachers Advisors, LLC (“Advisors”) or to any entity controlling, controlled by or under common control with Advisors that provides ongoing services to the Registrant (collectively, “Fund Service Providers”) were $11,568 and $13,500, respectively.

4(c)    Tax Fees.

For the fiscal years ended October 31, 2023 and October 31, 2022, PwC’s aggregate fees for tax services billed to the Registrant were $258,124.71 and $150,565, respectively.

For the fiscal years ended October 31, 2023 and October 31, 2022, the Tax Fees billed by PwC to the Fund Service Providers were $0 and $0, respectively.

4(d)    All Other Fees.

For the fiscal years ended October 31, 2023 and October 31, 2022, PwC’s aggregate fees for all other services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended October 31, 2023 and October 31, 2022, PwC’s aggregate fees for all other services billed to the Fund Service Providers were $0 and $0, respectively.

4(e)(1) Preapproval Policy.

The Registrant’s audit and compliance committee (“Audit Committee”) has adopted a Preapproval Policy for External Audit Firm Services (the “Policy”). The Policy describes the types of services that may be provided by the independent auditor to the Registrant and certain of its affiliates without impairing the auditor’s independence. Under the Policy, the Audit Committee is required to preapprove all services to be performed by the Registrant’s independent auditor in order to ensure that such services do not impair the auditor’s independence.

The Policy requires the Audit Committee to: (i) appoint the independent auditor to perform the financial statements audit for the Registrant and certain of its affiliates, including approving the terms of the engagement, and (ii) preapprove the audit, audit-related, tax and other services to be provided by the independent auditor to the Registrant and certain of its affiliates and the fees to be charged for provision of such services from year to year.

4(e)(2) Services provided pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (the “de minimis exception”):

Audit-Related Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2023 and October 31, 2022 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2023 and October 31, 2022 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

Tax Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2023 and October 31, 2022 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2023 and October 31, 2022 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

All Other Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2023 and October 31, 2022 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2023 and October 31, 2022 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

4(f)    The percentage of hours expended by PwC’s engagement to audit the Registrant’s financial statements for the most recent fiscal year attributable to work performed by persons other than PwC’s full-time, permanent employees was less than 50%.

4(g)    Non-Audit Fees for Related Entities.

For the fiscal years ended October 31, 2023 and October 31, 2022, aggregate non-audit fees billed to the Registrant and to its Fund Service Providers by PwC were $981,082 and $1,012,526, respectively.

4(h)    The Registrant’s Audit Committee has considered whether the non-audit services that were rendered by PwC to the Registrant’s Fund Service Providers that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S- X are compatible with maintaining PwC’s independence.

Item 5.  Audit Committee of Listed Registrants.

Not applicable.

Item 6.  Schedule of Investments.

Not applicable. The complete schedule of investments is included in Item 1 of this Form N-CSR.

Item 7.  Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8.  Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9.  Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10.  Submission of Matters to a Vote of Security Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.

Item 11.  Controls and Procedures.

(a) An evaluation was performed within 90 days of the filing date of the report under the supervision of the Registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on that evaluation, the Registrant’s management, including the principal executive officer and principal financial officer, concluded that the Registrant’s disclosure controls and procedures were effective for this annual reporting period.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s annual period covered by this report that materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12.  Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13.  Exhibits.

13(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the Registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable because the code is posted on Registrant’s website at www.tiaa.org/public/pdf/c/code_of_conduct.pdf and there were no material amendments during the period covered by this report.

13(a)(2)(i) Section 302 certification of the principal executive officer

13(a)(2)(ii) Section 302 certification of the principal financial officer

13(b) Section 906 certification of principal executive officer and principal financial officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: December 21, 2023	TIAA-CREF FUNDS
	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Dated: December 21, 2023	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President
		(principal executive officer)

Dated: December 21, 2023	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		Principal Financial Officer, Principal
		Accounting Officer and Treasurer
		(principal financial officer)