N-CSR 1 tm231735d4_ncsr.htm N-CSR

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

 

CERTIFIED SHAREHOLDER REPORT

OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number: 811-58431

 

Name of Registrant: Vanguard Valley Forge Funds
Address of Registrant: P.O. Box 2600
  Valley Forge, PA 19482

 

Name and address of agent for service: Anne E. Robinson, Esquire
  P.O. Box 876
  Valley Forge, PA 19482

 

Registrant’s telephone number, including area code: (610) 669-1000

 

Date of fiscal year end: December 31

 

Date of reporting period: January 1, 2022—December 31, 2022

 

 

 

 

Item 1: Reports to Shareholders

 

 

 

Annual Report  |  December 31, 2022
Vanguard Balanced Index Fund

 

Contents
Your Fund’s Performance at a Glance
1
About Your Fund's Expenses
2
Performance Summary
3
Financial Statements
5
Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your fund are spelled out in the prospectus.

 

Your Fund’s Performance at a Glance
• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. Vanguard Balanced Index Fund returned –16.97% for Investor Shares, –16.90% for Admiral Shares, and –16.87% for Institutional Shares. The fund’s composite benchmark returned –16.41%.
• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia’s invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.
• While value stocks held up better than growth stocks, the decline over the 12 months was almost universal across investment styles, market capitalizations, and sectors. (A notable exception was energy stocks, which surged almost 60% in aggregate. All other sectors had either negative returns or positive returns in the low single digits.) The benchmark for the fund’s stock allocation, the CRSP U.S. Total Market Index, returned –19.49%.
• Bond yields ended the period higher, and the Treasury yield curve inverted. Bonds of lower credit quality and bonds with longer maturities generally did worse. The benchmark for the fund’s bond allocation, the Bloomberg U.S. Aggregate Float-Adjusted Index, returned –13.07, the worst year on record for U.S. bonds.
Market Barometer
  Average Annual Total Returns
Periods Ended December 31, 2022
  One Year Three Years Five Years
Stocks      
Russell 1000 Index (Large-caps) -19.13% 7.35% 9.13%
Russell 2000 Index (Small-caps) -20.44 3.10 4.13
Russell 3000 Index (Broad U.S. market) -19.21 7.07 8.79
FTSE All-World ex US Index (International) -15.49 0.61 1.28
Bonds      
Bloomberg U.S. Aggregate Float Adjusted Index
(Broad taxable market) 		-13.07% -2.67% 0.06%
Bloomberg Municipal Bond Index
(Broad tax-exempt market) 		-8.53 -0.77 1.25
FTSE Three-Month U.S. Treasury Bill Index 1.50 0.70 1.24
CPI      
Consumer Price Index 6.45% 4.92% 3.78%
1

 

About Your Fund’s Expenses
As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.
A fund‘s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The accompanying table illustrates your fund’s costs in two ways:
• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, 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 given for your fund under the heading ”Expenses Paid During Period.“
• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”
The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.
You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.
Six Months Ended December 31, 2022      
  Beginning
Account Value
6/30/2022 		Ending
Account Value
12/31/2022 		Expenses
Paid During
Period
Based on Actual Fund Return
Balanced Index Fund      
Investor Shares $1,000.00 $1,001.50 $0.91
Admiral™ Shares 1,000.00 1,001.90 0.35
Institutional Shares 1,000.00 1,002.20 0.30
Based on Hypothetical 5% Yearly Return
Balanced Index Fund      
Investor Shares $1,000.00 $1,024.30 $0.92
Admiral Shares 1,000.00 1,024.85 0.36
Institutional Shares 1,000.00 1,024.90 0.31
The calculations are based on expenses incurred in the most recent six-month period. The fund's annualized six-month expense ratios for that period are 0.18% for Investor Shares, 0.07% for Admiral Shares, and 0.06% for Institutional Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).
2

 

Balanced Index Fund
Performance Summary
All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. 
Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000
    Average Annual Total Returns
Periods Ended December 31, 2022 		 
    One
Year 		Five
Years 		Ten
Years 		Final Value
of a $10,000
Investment
Balanced Index Fund Investor Shares -16.97% 5.39% 7.64% $20,886
Balanced Composite Index -16.41 5.84 8.01 21,604
Bloomberg U.S. Aggregate Float Adjusted Index -13.07 0.06 1.08 11,130
Spliced Total Stock Market Index -19.49 8.73 12.09 31,313
Balanced Composite Index: Weighted 60% MSCI US Broad Market Index and 40% Bloomberg U.S. Aggregate Float Adjusted Index through January 14, 2013, and 60% CRSP US Total Market Index and 40% Bloomberg U.S. Aggregate Float Adjusted Index thereafter.
Spliced Total Stock Market Index: MSCI US Broad Market Index through June 2, 2013, and CRSP US Total Market Index thereafter.
       
    One
Year 		Five
Years 		Ten
Years 		Final Value
of a $10,000
Investment
Balanced Index Fund Admiral Shares -16.90% 5.50% 7.77% $21,140
Balanced Composite Index -16.41 5.84 8.01 21,604
Bloomberg U.S. Aggregate Float Adjusted Index -13.07 0.06 1.08 11,130
Spliced Total Stock Market Index -19.49 8.73 12.09 31,313
       
    One
Year 		Five
Years 		Ten
Years 		Final Value
of a $5,000,000
Investment
Balanced Index Fund Institutional Shares -16.87% 5.52% 7.79% $10,581,968
Balanced Composite Index -16.41 5.84 8.01 10,802,020
Bloomberg U.S. Aggregate Float Adjusted Index -13.07 0.06 1.08 5,564,805
Spliced Total Stock Market Index -19.49 8.73 12.09 15,656,666
See Financial Highlights for dividend and capital gains information.
3

 

Balanced Index Fund
Fund Allocation
As of December 31, 2022
Asset-Backed/Commercial Mortgage-Backed Securities 1.0%
Common Stocks 60.0
Corporate Bonds 10.8
Preferred Stocks 0.0
Sovereign Bonds 1.3
Taxable Municipal Bonds 0.3
U.S. Government and Agency Obligations 26.6
The table reflects the fund’s investments, except for short-term investments and derivatives. The agency and mortgage-backed securities may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.
The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.
4

 

Balanced Index Fund
Financial Statements
Schedule of Investments
As of December 31, 2022
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
          Shares Market
Value•
($000)
Common Stocks (59.5%)
Basic Materials (1.3%)
  Linde plc    373,912    121,963
  Air Products and Chemicals Inc.    167,863     51,745
  Freeport-McMoRan Inc.  1,085,396     41,245
  Newmont Corp.    600,536     28,345
  Ecolab Inc.    193,861     28,218
  Dow Inc.    529,488     26,681
  Nucor Corp.    193,400     25,492
  Fastenal Co.    434,219     20,547
  International Flavors & Fragrances Inc.    192,591     20,191
  Albemarle Corp.     88,455     19,182
  LyondellBasell Industries NV Class A    196,749     16,336
  CF Industries Holdings Inc.    148,875     12,684
  Steel Dynamics Inc.    124,988     12,211
  FMC Corp.     95,915     11,970
  Mosaic Co.    257,850     11,312
  Avery Dennison Corp.     61,003     11,042
  International Paper Co.    272,385      9,433
  Reliance Steel & Aluminum Co.     43,640      8,835
  Eastman Chemical Co.     91,725      7,470
  Celanese Corp. Class A     73,028      7,466
* Cleveland-Cliffs Inc.    386,491      6,226
  Alcoa Corp.    132,100      6,007
  Royal Gold Inc.     50,621      5,706
  Olin Corp.    104,346      5,524
* RBC Bearings Inc.     22,318      4,672
  Commercial Metals Co.     91,161      4,403
  Valvoline Inc.    134,434      4,389
  United States Steel Corp.    160,543      4,022
  Ashland Inc.     37,350      4,016
* Univar Solutions Inc.    121,613      3,867
  Hexcel Corp.     64,717      3,809
  Huntsman Corp.    133,813      3,677
  Chemours Co.    117,379      3,594
  Timken Co.     49,805      3,520
  UFP Industries Inc.     43,635      3,458
  Balchem Corp.     24,916      3,043
  Element Solutions Inc.    163,379      2,972
  Cabot Corp.     42,156      2,818
* Livent Corp.    138,474      2,751
  Mueller Industries Inc.     41,401      2,443
  Westlake Corp.     23,622      2,422
  Sensient Technologies Corp.     32,733      2,387
  Hecla Mining Co.    427,152      2,375
  Avient Corp.     68,323      2,307
  Boise Cascade Co.     30,705      2,109
  Innospec Inc.     19,761      2,033
* MP Materials Corp.     82,661      2,007
* Ingevity Corp.     27,491      1,936
  NewMarket Corp.      5,878      1,829
  Stepan Co.     16,746      1,783
  Quaker Chemical Corp.     10,235      1,708
* Arconic Corp.     75,337      1,594
  Scotts Miracle-Gro Co.     29,878      1,452
  Minerals Technologies Inc.     23,839      1,448
  Sylvamo Corp.     28,662      1,393
  Carpenter Technology Corp.     36,597      1,352
  Materion Corp.     15,393      1,347
          Shares Market
Value•
($000)
  Tronox Holdings plc     87,714      1,203
  Worthington Industries Inc.     23,989      1,193
  Compass Minerals International Inc.     27,193      1,115
* Uranium Energy Corp.    267,443      1,038
  Kaiser Aluminum Corp.     13,151        999
  Mativ Holdings Inc.     41,161        860
* Resolute Forest Products Inc.     37,600        812
  AdvanSix Inc.     20,929        796
* Energy Fuels Inc.    120,446        748
  GrafTech International Ltd.    143,000        681
* US Silica Holdings Inc.     53,800        673
  Hawkins Inc.     16,825        649
* TimkenSteel Corp.     34,305        623
* Coeur Mining Inc.    172,147        578
  Schnitzer Steel Industries Inc. Class A     18,601        570
* Clearwater Paper Corp.     14,637        553
* Piedmont Lithium Inc.     12,436        547
* Ecovyst Inc.     60,933        540
* LSB Industries Inc.     39,093        520
  Haynes International Inc.     11,267        515
  Koppers Holdings Inc.     17,410        491
* Rayonier Advanced Materials Inc.     44,700        429
  Ryerson Holding Corp.     14,167        429
* Origin Materials Inc.     92,204        425
  American Vanguard Corp.     19,365        420
* Century Aluminum Co.     37,670        308
  Omega Flex Inc.      2,737        255
* Northwest Pipe Co.      7,317        247
*,1 Amyris Inc.    148,400        227
  Olympic Steel Inc.      6,373        214
* Intrepid Potash Inc.      7,428        214
* Alto Ingredients Inc.     72,356        208
* 5E Advanced Materials Inc.     25,800        203
  Tredegar Corp.     18,346        188
* Dakota Gold Corp.     50,500        154
* Unifi Inc.     16,177        139
  Gold Resource Corp.     88,800        136
  FutureFuel Corp.     16,400        133
*,1 Ur-Energy Inc.    114,960        132
* Gatos Silver Inc.     22,900         94
  Glatfelter Corp.     29,983         83
* Hycroft Mining Holding Corp. Class A    152,110         81
  Northern Technologies International Corp.      5,764         77
* Universal Stainless & Alloy Products Inc.      7,442         53
  Culp Inc.      7,359         34
  Eastern Co.      1,347         26
  Friedman Industries Inc.      2,625         26
  United-Guardian Inc.      2,067         22
  Chicago Rivet & Machine Co.        710         20
* NN Inc.     10,564         16
* Solitario Zinc Corp.     21,690         13
* United States Antimony Corp.     19,099          9
*,2 F-star Therapeutics Inc. CVR      2,730         —
                                                 625,486
Consumer Discretionary (7.9%)
* Amazon.com Inc.  6,568,180    551,727
* Tesla Inc.  2,033,310    250,463
  Home Depot Inc.    771,445    243,669
  Costco Wholesale Corp.    335,112    152,979
5

 

Balanced Index Fund
          Shares Market
Value•
($000)
  McDonald's Corp.    554,071    146,014
  Walmart Inc.  1,028,396    145,816
* Walt Disney Co.  1,380,849    119,968
  NIKE Inc. Class B    954,082    111,637
* Netflix Inc.    337,084     99,400
  Lowe's Cos. Inc.    457,399     91,132
  Starbucks Corp.    869,773     86,281
  TJX Cos. Inc.    834,499     66,426
* Booking Holdings Inc.     29,363     59,175
  Target Corp.    349,137     52,035
  Dollar General Corp.    170,486     41,982
  Activision Blizzard Inc.    532,407     40,756
* O'Reilly Automotive Inc.     47,207     39,844
  Estee Lauder Cos. Inc. Class A    157,386     39,049
* Uber Technologies Inc.  1,437,725     35,555
* AutoZone Inc.     14,334     35,350
  Ford Motor Co.  2,983,479     34,698
  General Motors Co.  1,022,203     34,387
  Marriott International Inc. Class A    215,113     32,028
  Ross Stores Inc.    262,572     30,477
* Lululemon Athletica Inc.     92,685     29,694
* Chipotle Mexican Grill Inc. Class A     20,959     29,080
  Yum! Brands Inc.    211,811     27,129
  Hilton Worldwide Holdings Inc.    204,859     25,886
  Electronic Arts Inc.    208,465     25,470
* Airbnb Inc. Class A    271,004     23,171
* Dollar Tree Inc.    159,134     22,508
  DR Horton Inc.    235,055     20,953
* Copart Inc.    325,372     19,812
* Aptiv plc    206,169     19,201
  Tractor Supply Co.     83,410     18,765
  Genuine Parts Co.    107,024     18,570
* Ulta Beauty Inc.     38,954     18,272
  Lennar Corp. Class A    201,137     18,203
  eBay Inc.    413,034     17,129
* Delta Air Lines Inc.    488,635     16,057
* Warner Bros Discovery Inc.  1,651,126     15,653
* Trade Desk Inc. Class A    338,840     15,190
* Southwest Airlines Co.    447,995     15,084
* Take-Two Interactive Software Inc.    126,669     13,190
  Darden Restaurants Inc.     92,234     12,759
  Omnicom Group Inc.    154,525     12,605
* Las Vegas Sands Corp.    259,683     12,483
  Best Buy Co. Inc.    153,637     12,323
* Etsy Inc.     95,371     11,424
  Garmin Ltd.    115,400     10,650
* NVR Inc.      2,204     10,166
* Burlington Stores Inc.     49,729     10,083
  LKQ Corp.    188,679     10,077
* Expedia Group Inc.    113,624      9,953
  Interpublic Group of Cos. Inc.    291,740      9,718
  Domino's Pizza Inc.     26,898      9,317
* United Airlines Holdings Inc.    246,962      9,310
* Rivian Automotive Inc. Class A    489,164      9,015
  Pool Corp.     28,320      8,562
* Live Nation Entertainment Inc.    122,710      8,558
  Aramark    197,044      8,146
* Royal Caribbean Cruises Ltd.    163,327      8,073
* Deckers Outdoor Corp.     20,154      8,045
  PulteGroup Inc.    173,828      7,914
  MGM Resorts International    230,681      7,735
  Rollins Inc.    207,530      7,583
  Service Corp. International    109,627      7,580
* Liberty Media Corp.-Liberty Formula One Class C    123,832      7,403
  VF Corp.    265,961      7,343
* CarMax Inc.    119,706      7,289
  Vail Resorts Inc.     30,348      7,233
          Shares Market
Value•
($000)
* ROBLOX Corp. Class A    251,050      7,145
  BorgWarner Inc.    176,063      7,087
* Five Below Inc.     39,506      6,987
  Bath & Body Works Inc.    163,540      6,892
  Tapestry Inc.    180,743      6,883
* BJ's Wholesale Club Holdings Inc.    102,404      6,775
  Advance Auto Parts Inc.     45,480      6,687
  Fox Corp. Class A    217,403      6,603
* Caesars Entertainment Inc.    155,645      6,475
1 Paramount Global Class B    375,336      6,336
* American Airlines Group Inc.    496,399      6,314
*,1 Carnival Corp.    771,127      6,215
  Hasbro Inc.     99,956      6,098
* Wynn Resorts Ltd.     73,151      6,033
  Whirlpool Corp.     41,663      5,894
  Williams-Sonoma Inc.     50,644      5,820
* Capri Holdings Ltd.     98,401      5,640
  Lear Corp.     44,406      5,507
  Churchill Downs Inc.     25,635      5,420
  News Corp. Class A    295,485      5,378
* Floor & Decor Holdings Inc. Class A     75,208      5,237
  Dick's Sporting Goods Inc.     42,757      5,143
* Planet Fitness Inc. Class A     61,988      4,885
  Gentex Corp.    177,367      4,837
  Nexstar Media Group Inc. Class A     27,585      4,828
  Wyndham Hotels & Resorts Inc.     67,626      4,822
* Mattel Inc.    268,015      4,781
* Crocs Inc.     43,954      4,766
  Texas Roadhouse Inc. Class A     49,970      4,545
  Murphy USA Inc.     15,694      4,387
* Skechers USA Inc. Class A    102,031      4,280
  Tempur Sealy International Inc.    124,680      4,280
  Macy's Inc.    206,151      4,257
  H&R Block Inc.    115,831      4,229
* Light & Wonder Inc.     72,093      4,225
  Harley-Davidson Inc.     99,895      4,156
  Lithia Motors Inc. Class A     20,276      4,151
  Polaris Inc.     40,774      4,118
* Alaska Air Group Inc.     95,519      4,102
* SiteOne Landscape Supply Inc.     34,790      4,082
  Toll Brothers Inc.     81,736      4,080
  U-Haul Holding Co. (XNYS)     73,693      4,052
* IAA Inc.    101,123      4,045
* Liberty Media Corp.-Liberty SiriusXM Class C    101,559      3,974
* Norwegian Cruise Line Holdings Ltd.    324,654      3,974
  New York Times Co. Class A    118,208      3,837
  Newell Brands Inc.    285,016      3,728
*,1 GameStop Corp. Class A    198,800      3,670
* RH     13,462      3,597
  Marriott Vacations Worldwide Corp.     26,392      3,552
  TEGNA Inc.    165,929      3,516
* Penn Entertainment Inc.    115,192      3,421
  PVH Corp.     48,219      3,404
* DraftKings Inc. Class A    292,556      3,332
  Leggett & Platt Inc.    102,888      3,316
* Hyatt Hotels Corp. Class A     35,366      3,199
  Academy Sports & Outdoors Inc.     60,215      3,164
  Fox Corp. Class B    110,181      3,135
  Wingstop Inc.     22,709      3,125
  Warner Music Group Corp. Class A     89,219      3,124
* AutoNation Inc.     29,054      3,117
*,1 Lucid Group Inc.    454,997      3,108
* Asbury Automotive Group Inc.     16,604      2,976
  Choice Hotels International Inc.     26,285      2,961
  Thor Industries Inc.     38,741      2,925
* Fox Factory Holding Corp.     31,797      2,901
  Ralph Lauren Corp. Class A     27,198      2,874
 
6

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Liberty Media Corp.-Liberty SiriusXM Class A     73,081      2,873
  Wendy's Co.    126,077      2,853
* YETI Holdings Inc.     67,024      2,769
* Visteon Corp.     21,067      2,756
* Bright Horizons Family Solutions Inc.     43,537      2,747
  Boyd Gaming Corp.     49,914      2,722
* Lyft Inc. Class A    246,718      2,719
* Liberty Media Corp.-Liberty Formula One Class A     50,299      2,687
1 Sirius XM Holdings Inc.    458,703      2,679
  Foot Locker Inc.     70,203      2,653
* Hilton Grand Vacations Inc.     67,092      2,586
* Avis Budget Group Inc.     15,523      2,545
* Chewy Inc. Class A     67,169      2,491
* Meritage Homes Corp.     26,758      2,467
* Taylor Morrison Home Corp. Class A     80,427      2,441
* Grand Canyon Education Inc.     22,898      2,419
* National Vision Holdings Inc.     60,004      2,326
* Ollie's Bargain Outlet Holdings Inc.     48,638      2,278
* Chegg Inc.     89,694      2,267
  Madison Square Garden Sports Corp.     12,340      2,262
  Kohl's Corp.     88,320      2,230
* Endeavor Group Holdings Inc. Class A     98,717      2,225
  Signet Jewelers Ltd.     32,600      2,217
* Coty Inc. Class A    256,667      2,197
  World Wrestling Entertainment Inc. Class A     31,821      2,180
* Skyline Champion Corp.     41,920      2,159
* Goodyear Tire & Rubber Co.    212,647      2,158
* elf Beauty Inc.     38,814      2,146
* Helen of Troy Ltd.     19,027      2,110
  Travel + Leisure Co.     57,951      2,109
  Gap Inc.    182,100      2,054
  Columbia Sportswear Co.     23,324      2,043
  Carter's Inc.     27,361      2,041
* Topgolf Callaway Brands Corp.    102,814      2,031
  Rush Enterprises Inc. Class A     38,835      2,030
  Papa John's International Inc.     24,176      1,990
* Victoria's Secret & Co.     55,413      1,983
* Wayfair Inc. Class A     57,729      1,899
  American Eagle Outfitters Inc.    132,146      1,845
  Group 1 Automotive Inc.     10,160      1,833
  Penske Automotive Group Inc.     15,857      1,822
  KB Home     56,741      1,807
  Steven Madden Ltd.     55,962      1,789
* Under Armour Inc. Class A    174,609      1,774
  LCI Industries     18,968      1,754
* Peloton Interactive Inc. Class A    218,855      1,738
* Hertz Global Holdings Inc.    111,200      1,711
  Hanesbrands Inc.    263,235      1,674
  Spirit Airlines Inc.     85,301      1,662
  Graham Holdings Co. Class B      2,734      1,652
* Sonos Inc.     96,773      1,635
* Gentherm Inc.     24,923      1,627
  Kontoor Brands Inc.     40,491      1,619
*,1 AMC Entertainment Holdings Inc. Class A    393,400      1,601
* Dorman Products Inc.     19,776      1,599
* JetBlue Airways Corp.    246,521      1,597
* Sabre Corp.    256,400      1,585
  Dana Inc.    100,670      1,523
  News Corp. Class B     81,302      1,499
  Red Rock Resorts Inc. Class A     37,327      1,493
  Cracker Barrel Old Country Store Inc.     15,743      1,491
* Duolingo Inc. Class A     20,548      1,462
* Cavco Industries Inc.      6,408      1,450
* Boot Barn Holdings Inc.     23,076      1,443
* LGI Homes Inc.     15,396      1,426
* TripAdvisor Inc.     78,779      1,416
  MDC Holdings Inc.     44,459      1,405
          Shares Market
Value•
($000)
* SeaWorld Entertainment Inc.     26,185      1,401
* ODP Corp.     30,551      1,391
* Tri Pointe Homes Inc.     72,377      1,345
* Leslie's Inc.    108,875      1,329
* PowerSchool Holdings Inc. Class A     57,314      1,323
  John Wiley & Sons Inc. Class A     32,872      1,317
  Bloomin' Brands Inc.     65,400      1,316
  Strategic Education Inc.     16,503      1,292
* Six Flags Entertainment Corp.     54,669      1,271
  Inter Parfums Inc.     12,887      1,244
* Frontdoor Inc.     59,763      1,243
  Winnebago Industries Inc.     23,559      1,242
* Shake Shack Inc. Class A     29,830      1,239
* Driven Brands Holdings Inc.     44,965      1,228
  Cheesecake Factory Inc.     37,695      1,195
* Adtalem Global Education Inc.     33,547      1,191
  MillerKnoll Inc.     56,089      1,178
  Nordstrom Inc.     72,941      1,177
  PriceSmart Inc.     19,182      1,166
* Dave & Buster's Entertainment Inc.     32,700      1,159
  Century Communities Inc.     23,127      1,157
* Brinker International Inc.     35,325      1,127
* Under Armour Inc. Class C    126,293      1,127
  Buckle Inc.     24,717      1,121
  Monro Inc.     24,603      1,112
  Levi Strauss & Co. Class A     70,747      1,098
  Jack in the Box Inc.     16,056      1,095
  Laureate Education Inc. Class A    112,959      1,087
* KAR Auction Services Inc.     82,987      1,083
  Acushnet Holdings Corp.     25,050      1,064
* Knowles Corp.     64,653      1,062
* M/I Homes Inc.     22,855      1,055
  Oxford Industries Inc.     11,127      1,037
* Urban Outfitters Inc.     43,342      1,034
*,1 QuantumScape Corp. Class A    181,781      1,031
* Sally Beauty Holdings Inc.     81,417      1,019
* Vista Outdoor Inc.     40,416        985
* Madison Square Garden Entertainment Corp.     21,882        984
* Everi Holdings Inc.     66,989        961
* Stride Inc.     30,230        946
  Dillard's Inc. Class A      2,901        938
* Coursera Inc.     78,301        926
*,1 Dutch Bros Inc. Class A     32,862        926
  Scholastic Corp.     23,427        924
* XPEL Inc.     15,393        924
* Malibu Boats Inc. Class A     16,616        886
* iRobot Corp.     17,996        866
  Rent-A-Center Inc.     38,412        866
  HNI Corp.     30,091        855
*,1 Fisker Inc. Class A    117,100        851
* Luminar Technologies Inc. Class A    164,987        817
* Allegiant Travel Co.     11,982        815
  La-Z-Boy Inc.     35,433        809
* Abercrombie & Fitch Co. Class A     34,838        798
  Dine Brands Global Inc.     12,079        780
* Perdoceo Education Corp.     55,254        768
* Monarch Casino & Resort Inc.      9,587        737
  Wolverine World Wide Inc.     66,866        731
* Cinemark Holdings Inc.     84,330        730
* Central Garden & Pet Co. Class A     20,268        726
  Sturm Ruger & Co. Inc.     14,136        716
* ACV Auctions Inc. Class A     86,708        712
  RCI Hospitality Holdings Inc.      7,514        700
* Udemy Inc.     65,667        693
  Caleres Inc.     30,600        682
  Gray Television Inc.     60,831        681
  Matthews International Corp. Class A     22,042        671
 
7

 

Balanced Index Fund
          Shares Market
Value•
($000)
* American Axle & Manufacturing Holdings Inc.     85,596        669
* Revolve Group Inc. Class A     29,900        666
  Camping World Holdings Inc. Class A     29,682        662
* Clean Energy Fuels Corp.    124,439        647
* Overstock.com Inc.     33,041        640
* SkyWest Inc.     38,575        637
* Liberty Media Corp.-Liberty Braves Class C     19,714        635
* Mister Car Wash Inc.     65,342        603
  Hibbett Inc.      8,784        599
* Lions Gate Entertainment Corp. Class B    108,308        588
* Cars.com Inc.     42,700        588
* EW Scripps Co. Class A     44,261        584
  Arko Corp.     67,400        584
* PROG Holdings Inc.     34,328        580
* Figs Inc. Class A     85,063        572
  Sonic Automotive Inc. Class A     11,275        556
  Krispy Kreme Inc.     52,910        546
  A-Mark Precious Metals Inc.     15,632        543
* Petco Health & Wellness Co. Inc. Class A     56,651        537
* Boston Omaha Corp. Class A     19,993        530
* Golden Entertainment Inc.     13,829        517
* Sweetgreen Inc. Class A     59,850        513
* MarineMax Inc.     16,108        503
* Stoneridge Inc.     23,341        503
* QuinStreet Inc.     34,959        502
* TravelCenters of America Inc.     11,200        502
  Sinclair Broadcast Group Inc. Class A     32,200        499
* iHeartMedia Inc. Class A     81,059        497
  Steelcase Inc. Class A     69,728        493
  Guess? Inc.     23,011        476
  Standard Motor Products Inc.     13,650        475
* Sleep Number Corp.     18,237        474
* Portillo's Inc. Class A     28,991        473
* Corsair Gaming Inc.     34,728        471
* GoPro Inc. Class A     93,976        468
* Central Garden & Pet Co.     12,440        466
* Denny's Corp.     49,923        460
  Winmark Corp.      1,926        454
* Chuy's Holdings Inc.     15,928        451
* Qurate Retail Inc. Class A    266,634        435
* Thryv Holdings Inc.     22,800        433
  Movado Group Inc.     13,282        428
* BJ's Restaurants Inc.     16,148        426
* G-III Apparel Group Ltd.     30,976        425
*,1 Bally's Corp.     21,875        424
  Designer Brands Inc. Class A     42,952        420
*,1 Blink Charging Co.     37,833        415
  U-Haul Holding Co.        6,790        409
* Genesco Inc.      8,865        408
* Hawaiian Holdings Inc.     39,683        407
* Chico's FAS Inc.     82,065        404
* Green Brick Partners Inc.     16,604        402
* Liberty Media Corp.-Liberty Braves Class A     12,319        402
  Shoe Carnival Inc.     16,630        398
  Ethan Allen Interiors Inc.     15,022        397
  Franchise Group Inc.     16,478        392
* Sun Country Airlines Holdings Inc.     24,720        392
* Children's Place Inc.     10,719        390
* Stagwell Inc.     60,890        378
* Viad Corp.     14,866        363
* 2U Inc.     57,721        362
* Poshmark Inc. Class A     20,165        361
* Bowlero Corp.     26,800        361
* Life Time Group Holdings Inc.     30,000        359
*,1 Mullen Automotive Inc.  1,251,900        358
* AMC Networks Inc. Class A     22,780        357
  Haverty Furniture Cos. Inc.     11,934        357
          Shares Market
Value•
($000)
  Ruth's Hospitality Group Inc.     23,038        357
  Interface Inc. Class A     35,478        350
* Accel Entertainment Inc. Class A     45,284        349
* Liquidity Services Inc.     24,357        342
  Big Lots Inc.     23,152        340
* Sportsman's Warehouse Holdings Inc.     36,100        340
* Lions Gate Entertainment Corp. Class A     59,304        339
  Smith & Wesson Brands Inc.     39,047        339
*,1 Carvana Co. Class A     71,106        337
* SES AI Corp.    106,300        335
  Alta Equipment Group Inc.     25,200        332
* Zumiez Inc.     15,029        327
  Aaron's Co. Inc.     27,396        327
1 Marcus Corp.     22,280        321
  Carriage Services Inc. Class A     11,579        319
* Vizio Holding Corp. Class A     42,297        313
* America's Car-Mart Inc.      4,309        311
* MasterCraft Boat Holdings Inc.     11,800        305
* Rover Group Inc. Class A     82,808        304
  Johnson Outdoors Inc. Class A      4,529        299
* Integral Ad Science Holding Corp.     33,975        299
* Sciplay Corp. Class A     18,478        297
* Build-A-Bear Workshop Inc.     12,127        289
* Beazer Homes USA Inc.     22,577        288
  Global Industrial Co.     11,984        282
* Clear Channel Outdoor Holdings Inc.    265,400        279
* Playstudios Inc.     69,946        271
* Frontier Group Holdings Inc.     26,032        267
* Funko Inc. Class A     24,100        263
* Xponential Fitness Inc. Class A     11,073        254
  European Wax Center Inc. Class A     19,855        247
* Lovesac Co.     10,900        240
* Biglari Holdings Inc. Class A        340        237
* Destination XL Group Inc.     34,900        236
*,1 Canoo Inc.    183,500        226
* Quotient Technology Inc.     65,116        223
* Full House Resorts Inc.     29,586        222
  Rush Enterprises Inc. Class B      3,900        219
* Purple Innovation Inc. Class A     45,093        216
* First Watch Restaurant Group Inc.     15,696        212
* Allbirds Inc. Class A     86,668        210
  Lennar Corp. Class B      2,800        209
* Citi Trends Inc.      7,854        208
* Sonder Holdings Inc.    167,200        207
  Kimball International Inc. Class B     31,256        203
* 1-800-Flowers.com Inc. Class A     21,198        203
  Hooker Furnishings Corp.     10,600        198
  Bassett Furniture Industries Inc.     11,200        195
* Gannett Co. Inc.     96,200        195
* Arlo Technologies Inc.     55,119        193
* Century Casinos Inc.     27,263        192
  Nathan's Famous Inc.      2,809        189
* OneWater Marine Inc. Class A      6,600        189
* Stitch Fix Inc. Class A     59,923        186
* CarParts.com Inc.     29,616        185
  Entravision Communications Corp. Class A     38,303        184
* Universal Electronics Inc.      8,830        184
* Fossil Group Inc.     42,400        183
* Daily Journal Corp.        718        180
* ContextLogic Inc. Class A    363,054        177
* American Public Education Inc.     14,286        176
*,1 Vuzix Corp.     47,800        174
  Cato Corp. Class A     18,491        173
  Clarus Corp.     21,337        167
* Universal Technical Institute Inc.     24,531        165
  El Pollo Loco Holdings Inc.     16,271        162
* WW International Inc.     41,763        161
 
8

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Kura Sushi USA Inc. Class A      3,346        160
1 Bluegreen Vacations Holding Corp. Class A      6,400        160
* Motorcar Parts of America Inc.     13,428        159
* Tupperware Brands Corp.     37,700        156
* Wheels Up Experience Inc.    149,123        154
*,1 Bed Bath & Beyond Inc.     60,567        152
* Noodles & Co. Class A     27,098        149
1 Big 5 Sporting Goods Corp.     16,718        148
* Cooper-Standard Holdings Inc.     16,300        148
* Hovnanian Enterprises Inc. Class A      3,500        147
* JAKKS Pacific Inc.      8,279        145
* Nerdy Inc.     63,500        143
* Eastman Kodak Co.     46,489        142
* PlayAGS Inc.     27,501        140
* Dream Finders Homes Inc. Class A     16,072        139
* Rush Street Interactive Inc.     38,600        139
* Lindblad Expeditions Holdings Inc.     17,847        137
* Cardlytics Inc.     23,301        135
  Rocky Brands Inc.      5,601        132
* Angi Inc. Class A     51,994        122
* Vera Bradley Inc.     26,700        121
* Legacy Housing Corp.      6,400        121
*,1 Lordstown Motors Corp. Class A    105,000        120
*,1 Genius Brands International Inc.    253,800        118
*,1 Cricut Inc. Class A     12,396        115
* Vacasa Inc. Class A     91,300        115
  Weber Inc. Class A     13,930        112
* American Outdoor Brands Inc.     11,061        111
* LL Flooring Holdings Inc.     19,622        110
* Arhaus Inc. Class A     11,090        108
* VOXX International Corp. Class A     12,800        107
*,1 Focus Universal Inc.     16,600        106
  Saga Communications Inc. Class A      4,438        105
* Tilly's Inc. Class A     11,657        105
*,1 AMMO Inc.     60,739        105
  Weyco Group Inc.      4,901        104
* Latham Group Inc.     32,438        104
* Container Store Group Inc.     22,761         98
* Fiesta Restaurant Group Inc.     13,364         98
* Lazydays Holdings Inc.      8,200         98
* ONE Group Hospitality Inc.     15,411         97
* Turtle Beach Corp.     13,183         95
* BARK Inc.     62,355         93
* Outbrain Inc.     25,574         93
* Biglari Holdings Inc. Class B        610         85
* Lands' End Inc.     10,900         83
* RealReal Inc.     66,800         83
* Snap One Holdings Corp.     11,073         82
  Superior Group of Cos. Inc.      8,001         80
* Lee Enterprises Inc.      4,325         80
* Red Robin Gourmet Burgers Inc.     14,100         79
  Marine Products Corp.      6,508         77
  Flexsteel Industries Inc.      4,330         67
* Townsquare Media Inc. Class A      9,269         67
* Holley Inc.     31,500         67
* Strattec Security Corp.      3,216         66
* Selectquote Inc.     96,684         65
  Acme United Corp.      2,909         64
* Cumulus Media Inc. Class A     10,024         62
* Lakeland Industries Inc.      4,633         62
  NL Industries Inc.      9,161         62
* Polished.com Inc.    105,100         61
* Spruce Power Holding Corp.     62,800         58
* Delta Apparel Inc.      5,328         57
* Express Inc.     55,300         56
* ThredUp Inc. Class A     41,643         55
* Conn's Inc.      7,900         54
          Shares Market
Value•
($000)
* Reading International Inc. Class A     19,500         54
* F45 Training Holdings Inc.     19,083         54
* Traeger Inc.     18,573         52
* Carrols Restaurant Group Inc.     37,000         50
* Barnes & Noble Education Inc.     27,441         48
*,1 Cinedigm Corp. Class A    124,200         48
* Mesa Air Group Inc.     29,600         45
* XWELL Inc.    124,200         45
  Escalade Inc.      4,321         44
*,1 Rent the Runway Inc. Class A     14,400         44
* Liberty TripAdvisor Holdings Inc. Class A     62,500         42
* Duluth Holdings Inc. Class B      6,600         41
* Superior Industries International Inc.      9,407         40
* Potbelly Corp.      6,980         39
* Kirkland's Inc.     11,800         39
* Lincoln Educational Services Corp.      6,500         38
* RumbleON Inc. Class B      5,807         38
* Lulu's Fashion Lounge Holdings Inc.     15,108         38
  Lifetime Brands Inc.      4,913         37
* Owlet Inc.     65,425         37
* Solo Brands Inc. Class A      9,725         36
  Climb Global Solutions Inc.      1,052         33
* Aterian Inc.     42,700         33
* Nautilus Inc.     20,996         32
*,1 Ondas Holdings Inc.     18,500         29
*,1 Faraday Future Intelligent Electric Inc.    100,801         29
* Chicken Soup For The Soul Entertainment Inc.      5,500         28
* Party City Holdco Inc.     73,000         27
* Kewaunee Scientific Corp.      1,646         26
* Marchex Inc. Class B     15,105         24
  Hamilton Beach Brands Holding Co. Class A      1,820         23
* CuriosityStream Inc.     20,600         23
* BurgerFi International Inc.     18,200         23
* Audacy Inc. Class A    100,400         23
* Fluent Inc.     16,860         18
* FlexShopper Inc.     16,024         15
  National CineMedia Inc.     63,500         14
* Live Ventures Inc.        372         12
  Educational Development Corp.      3,375         11
* SRAX Inc. Class A      7,476         11
*,2 Luby's Inc.      6,211         11
* iMedia Brands Inc.     14,424          9
* AYRO Inc.     24,748          9
* Gaia Inc. Class A      3,502          8
*,1 EBET Inc.     10,900          7
1 FAT Brands Inc. Class A      1,292          6
* Shift Technologies Inc. Class A     40,200          6
* Beasley Broadcast Group Inc. Class A      5,320          5
* HyreCar Inc.     10,879          5
*,1 Arcimoto Inc.      1,035          3
*,2 Zagg Inc. CVR     26,018          2
* Tile Shop Holdings Inc.        200          1
1,2 SRAX Inc.      7,476          1
                                               3,771,234
Consumer Staples (3.6%)
  Procter & Gamble Co.  1,795,725    272,160
  PepsiCo Inc.  1,041,981    188,244
  Coca-Cola Co.  2,948,955    187,583
  Philip Morris International Inc.  1,175,748    118,997
  CVS Health Corp.    995,282     92,750
  Mondelez International Inc. Class A  1,033,081     68,855
  Altria Group Inc.  1,357,784     62,064
  Colgate-Palmolive Co.    631,462     49,753
  McKesson Corp.    107,058     40,160
  Archer-Daniels-Midland Co.    416,842     38,704
  General Mills Inc.    450,537     37,778
  Kimberly-Clark Corp.    255,075     34,626
 
9

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Corteva Inc.    544,497     32,006
  Sysco Corp.    385,135     29,444
* Monster Beverage Corp.    276,568     28,080
  Constellation Brands Inc. Class A    119,033     27,586
  Hershey Co.    111,072     25,721
  Keurig Dr Pepper Inc.    698,071     24,893
  Kraft Heinz Co.    603,162     24,555
  Kroger Co.    487,172     21,718
  AmerisourceBergen Corp.    124,482     20,628
  Walgreens Boots Alliance Inc.    523,471     19,557
  Brown-Forman Corp. Class B    238,899     15,691
  McCormick & Co. Inc. (Non-Voting)    189,138     15,678
  Church & Dwight Co. Inc.    187,153     15,086
  Conagra Brands Inc.    360,545     13,953
  Kellogg Co.    194,099     13,828
  Tyson Foods Inc. Class A    220,593     13,732
  Clorox Co.     93,510     13,122
  J M Smucker Co.     76,154     12,067
  Bunge Ltd.    112,407     11,215
  Lamb Weston Holdings Inc.    109,796      9,811
  Hormel Foods Corp.    206,258      9,395
  Campbell Soup Co.    148,758      8,442
* Darling Ingredients Inc.    122,031      7,638
  Molson Coors Beverage Co. Class B    137,708      7,095
* Performance Food Group Co.    118,536      6,921
  Casey's General Stores Inc.     27,991      6,280
* US Foods Holding Corp.    153,295      5,215
  Ingredion Inc.     46,425      4,546
  Flowers Foods Inc.    151,176      4,345
* Post Holdings Inc.     40,680      3,672
* Celsius Holdings Inc.     31,519      3,279
* Simply Good Foods Co.     78,489      2,985
  Lancaster Colony Corp.     15,051      2,970
  Albertsons Cos. Inc. Class A    139,000      2,883
* Sprouts Farmers Market Inc.     81,134      2,626
* BellRing Brands Inc.     99,524      2,552
  Brown-Forman Corp. Class A     36,647      2,410
* Boston Beer Co. Inc. Class A      7,172      2,363
* Hostess Brands Inc. Class A    104,985      2,356
* TreeHouse Foods Inc.     42,425      2,095
  Spectrum Brands Holdings Inc.     32,435      1,976
* Grocery Outlet Holding Corp.     65,218      1,904
  Energizer Holdings Inc.     55,625      1,866
* Freshpet Inc.     34,609      1,826
  Coca-Cola Consolidated Inc.      3,475      1,780
* United Natural Foods Inc.     45,240      1,751
  Primo Water Corp.    112,412      1,747
  WD-40 Co.     10,217      1,647
  Cal-Maine Foods Inc.     29,910      1,629
  Nu Skin Enterprises Inc. Class A     35,898      1,513
  Edgewell Personal Care Co.     38,628      1,489
  Reynolds Consumer Products Inc.     43,004      1,289
  J & J Snack Foods Corp.      8,413      1,260
  Vector Group Ltd.    101,595      1,205
* Hain Celestial Group Inc.     69,691      1,128
  MGP Ingredients Inc.     10,136      1,078
* Herbalife Nutrition Ltd.     71,210      1,060
  Weis Markets Inc.     12,689      1,044
  Medifast Inc.      8,884      1,025
  Ingles Markets Inc. Class A     10,412      1,004
  Universal Corp.     18,258        964
* Chefs' Warehouse Inc.     27,717        922
  Utz Brands Inc.     52,861        838
  Andersons Inc.     22,077        772
  SpartanNash Co.     25,540        772
* National Beverage Corp.     16,004        745
* Beauty Health Co.     78,759        717
          Shares Market
Value•
($000)
  Seaboard Corp.        187        706
  Fresh Del Monte Produce Inc.     26,417        692
* Pilgrim's Pride Corp.     26,929        639
1 B&G Foods Inc.     54,082        603
* Mission Produce Inc.     49,628        577
  Tootsie Roll Industries Inc.     12,876        548
*,1 Beyond Meat Inc.     42,680        525
* Duckhorn Portfolio Inc.     31,109        516
  John B Sanfilippo & Son Inc.      5,717        465
  ACCO Brands Corp.     77,991        436
* Olaplex Holdings Inc.     81,743        426
* USANA Health Sciences Inc.      7,861        418
* Sovos Brands Inc.     27,212        391
  Calavo Growers Inc.     12,130        357
  PetMed Express Inc.     17,072        302
*,1 Veru Inc.     51,077        270
* Benson Hill Inc.    105,600        269
  Turning Point Brands Inc.     11,701        253
*,1 BRC Inc. Class A     36,500        223
* Vital Farms Inc.     12,800        191
* Seneca Foods Corp. Class A      3,115        190
* Vita Coco Co. Inc.     11,525        159
* Whole Earth Brands Inc.     37,141        151
* Rite Aid Corp.     39,298        131
* Lifecore Biomedical Inc.     18,610        121
  Oil-Dri Corp. of America      3,586        120
* GrowGeneration Corp.     29,800        117
* Honest Co. Inc.     38,800        117
  Limoneira Co.      8,859        108
* HF Foods Group Inc.     25,551        104
* 22nd Century Group Inc.    102,339         94
  Natural Grocers by Vitamin Cottage Inc.      9,195         84
  Village Super Market Inc. Class A      3,222         75
  Alico Inc.      2,443         58
* Nature's Sunshine Products Inc.      6,506         54
*,1 PLBY Group Inc.     16,900         46
* Local Bounti Corp.     32,915         46
*,1 Tattooed Chef Inc.     33,900         42
* Lifeway Foods Inc.      6,292         35
*,1 AppHarvest Inc.     59,800         34
* Natural Alternatives International Inc.      2,268         19
* Alkaline Water Co. Inc.     80,819         14
  ProPhase Labs Inc.      1,500         14
*,1 Blue Apron Holdings Inc. Class A     11,305          9
  Coffee Holding Co. Inc.      3,188          7
* Willamette Valley Vineyards Inc.      1,146          7
* Zevia PBC Class A      1,700          7
  Lifevantage Corp.      1,316          5
  Mannatech Inc.         34          1
*,2 Fresh Market Inc.     23,500         —
*,1 PLBY Group Inc. Rights Exp. 1/17/23     16,900         —
                                               1,715,840
Energy (3.2%)
  Exxon Mobil Corp.  3,118,286    343,947
  Chevron Corp.  1,318,080    236,582
  ConocoPhillips    944,581    111,461
  EOG Resources Inc.    446,683     57,854
  Schlumberger Ltd.  1,077,708     57,614
  Marathon Petroleum Corp.    353,994     41,201
  Pioneer Natural Resources Co.    170,534     38,948
  Phillips 66    357,310     37,189
  Valero Energy Corp.    292,058     37,050
  Occidental Petroleum Corp.    516,056     32,506
  Devon Energy Corp.    494,833     30,437
  Williams Cos. Inc.    921,605     30,321
  Hess Corp.    210,648     29,874
  Cheniere Energy Inc.    188,860     28,321
 
10

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Enphase Energy Inc.    103,035     27,300
  Kinder Morgan Inc.  1,447,565     26,172
  Halliburton Co.    616,945     24,277
  Baker Hughes Co. Class A    758,124     22,387
  ONEOK Inc.    340,161     22,349
  Diamondback Energy Inc.    134,024     18,332
  Coterra Energy Inc.    569,274     13,987
  Marathon Oil Corp.    482,011     13,048
  Targa Resources Corp.    172,008     12,643
* First Solar Inc.     76,811     11,506
  APA Corp.    245,519     11,461
  Texas Pacific Land Corp.      4,659     10,922
  Ovintiv Inc.    187,500      9,508
  Chesapeake Energy Corp.     96,128      9,072
  EQT Corp.    252,856      8,554
  NOV Inc.    301,117      6,290
* Antero Resources Corp.    193,600      6,000
  HF Sinclair Corp.    106,257      5,514
*,1 Plug Power Inc.    437,879      5,417
* Southwestern Energy Co.    851,754      4,983
  Matador Resources Co.     84,966      4,863
  Murphy Oil Corp.    112,183      4,825
  ChampionX Corp.    154,617      4,482
  PDC Energy Inc.     69,971      4,442
  Range Resources Corp.    174,800      4,374
  Chord Energy Corp.     29,875      4,087
  DT Midstream Inc.     73,490      4,061
  PBF Energy Inc. Class A     89,200      3,638
  Helmerich & Payne Inc.     72,958      3,617
  SM Energy Co.     91,200      3,176
* Noble Corp. plc     82,395      3,107
* Denbury Inc.     35,500      3,089
  Magnolia Oil & Gas Corp. Class A    127,610      2,992
  Patterson-UTI Energy Inc.    161,900      2,726
* Weatherford International plc     52,700      2,683
  Antero Midstream Corp.    239,147      2,580
  California Resources Corp.     57,863      2,518
  Cactus Inc. Class A     47,433      2,384
  Civitas Resources Inc.     40,254      2,332
* Peabody Energy Corp.     85,100      2,248
* Transocean Ltd.    487,900      2,225
  Equitrans Midstream Corp.    324,633      2,175
* Array Technologies Inc.    109,568      2,118
* CNX Resources Corp.    124,542      2,097
  Arcosa Inc.     37,754      2,052
*,1 ChargePoint Holdings Inc.    213,200      2,032
  Arch Resources Inc.     14,192      2,026
  New Fortress Energy Inc.     47,432      2,012
  Liberty Energy Inc. Class A    118,700      1,900
* Callon Petroleum Co.     48,160      1,786
* Shoals Technologies Group Inc. Class A     66,035      1,629
  Sitio Royalties Corp.     55,468      1,600
  Alpha Metallurgical Resources Inc.     10,900      1,596
  Northern Oil & Gas Inc.     49,574      1,528
* NexTier Oilfield Solutions Inc.    161,300      1,490
* Ameresco Inc. Class A     25,794      1,474
  Delek US Holdings Inc.     52,679      1,422
  CONSOL Energy Inc.     21,800      1,417
  Warrior Met Coal Inc.     39,915      1,383
* Oceaneering International Inc.     77,592      1,357
* Tidewater Inc.     34,800      1,282
* Green Plains Inc.     41,000      1,251
  Enviva Inc.     23,600      1,250
  Permian Resources Corp. Class A    127,100      1,195
  World Fuel Services Corp.     43,382      1,186
* SunPower Corp.     63,536      1,146
* Nabors Industries Ltd.      7,100      1,100
          Shares Market
Value•
($000)
  Archrock Inc.    121,402      1,090
* NOW Inc.     84,388      1,072
* Stem Inc.    117,600      1,051
  Comstock Resources Inc.     74,200      1,017
* Talos Energy Inc.     52,000        982
* Diamond Offshore Drilling Inc.     84,400        878
* Par Pacific Holdings Inc.     36,939        859
* MRC Global Inc.     69,500        805
* ProPetro Holding Corp.     76,300        791
* FuelCell Energy Inc.    282,202        785
* Helix Energy Solutions Group Inc.    105,500        779
* Earthstone Energy Inc. Class A     53,500        761
  CVR Energy Inc.     22,241        697
* Tellurian Inc.    405,500        681
  Core Laboratories NV     33,200        673
* Gulfport Energy Corp.      9,075        668
  SunCoke Energy Inc.     75,864        655
  RPC Inc.     68,616        610
* Laredo Petroleum Inc.     11,800        607
* Dril-Quip Inc.     21,457        583
* Bristow Group Inc. Class A     18,117        492
* REX American Resources Corp.     15,039        479
  Ranger Oil Corp.     11,700        473
  Select Energy Services Inc. Class A     49,405        457
* Montauk Renewables Inc.     40,536        447
*,1 Fluence Energy Inc. Class A     25,093        430
  VAALCO Energy Inc.     93,269        425
* W&T Offshore Inc.     74,445        415
* ProFrac Holding Corp. Class A     15,926        401
  Kinetik Holdings Inc. Class A     11,650        385
  Berry Corp.     47,100        377
* SandRidge Energy Inc.     20,416        348
* SilverBow Resources Inc.     12,168        344
* Amplify Energy Corp.     38,100        335
* Nine Energy Service Inc.     21,600        314
  Crescent Energy Co. Class A     25,898        311
* Gevo Inc.    156,500        297
* DMC Global Inc.     14,657        285
* TETRA Technologies Inc.     81,500        282
* TPI Composites Inc.     27,321        277
* Hallador Energy Co.     27,536        275
* Oil States International Inc.     36,200        270
*,1 Centrus Energy Corp. Class A      8,083        263
*,1 EVgo Inc. Class A     54,300        243
* NextDecade Corp.     48,400        239
* Newpark Resources Inc.     55,400        230
* Solid Power Inc.     87,000        221
  Solaris Oilfield Infrastructure Inc. Class A     21,551        214
* Ring Energy Inc.     74,543        183
  Ramaco Resources Inc.     18,625        164
* Forum Energy Technologies Inc.      5,300        156
  Evolution Petroleum Corp.     20,558        155
*,1,2 Next Bridge Hydrocarbons Inc.     47,692        138
* Empire Petroleum Corp.     10,300        127
* SEACOR Marine Holdings Inc.     12,948        119
* FTC Solar Inc.     44,004        118
  NACCO Industries Inc. Class A      2,823        107
*,1 Beam Global      5,900        103
* Heliogen Inc.    145,100        101
* KLX Energy Services Holdings Inc.      4,751         82
*,1 ESS Tech Inc.     33,409         81
* Matrix Service Co.     12,854         80
* Aemetis Inc.     20,069         79
* Ranger Energy Services Inc. Class A      5,868         65
* American Superconductor Corp.     17,108         63
* Natural Gas Services Group Inc.      5,139         59
  PHX Minerals Inc.     13,999         54
 
11

 

Balanced Index Fund
          Shares Market
Value•
($000)
*,1 374Water Inc.     14,969         44
*,1 Advent Technologies Holdings Inc.     20,900         38
* Sunworks Inc.     21,900         35
*,1 American Resources Corp.     26,300         35
*,1 Volta Inc.     91,600         33
* Geospace Technologies Corp.      5,246         22
* Capstone Green Energy Corp.     11,235         16
*,1 Camber Energy Inc.      4,872         10
* Tidewater Inc. Class A Warrants Exp. 7/31/23        535          1
* Tidewater Inc. Class B Warrants Exp. 7/31/23        579         —
*,2 Pineapple Energy Inc. CVR        463         —
                                               1,522,821
Financials (7.1%)
* Berkshire Hathaway Inc. Class B  1,192,467    368,353
  JPMorgan Chase & Co.  2,220,370    297,752
  Bank of America Corp.  5,166,275    171,107
  Wells Fargo & Co.  2,880,824    118,949
  Charles Schwab Corp.  1,168,974     97,329
  Goldman Sachs Group Inc.    255,520     87,740
  S&P Global Inc.    246,744     82,644
  Morgan Stanley    958,588     81,499
  BlackRock Inc.    107,997     76,530
  Chubb Ltd.    298,941     65,946
  Citigroup Inc.  1,395,573     63,122
  Marsh & McLennan Cos. Inc.    375,659     62,164
  Progressive Corp.    442,558     57,404
  PNC Financial Services Group Inc.    304,590     48,107
  US Bancorp  1,064,793     46,436
  CME Group Inc.    272,129     45,761
  Aon plc Class A    148,200     44,481
  Intercontinental Exchange Inc.    422,631     43,358
  Truist Financial Corp.  1,006,516     43,310
  Blackstone Inc.    530,385     39,349
* Berkshire Hathaway Inc. Class A         79     37,028
  American International Group Inc.    557,470     35,254
  Travelers Cos. Inc.    177,748     33,326
  Moody's Corp.    118,008     32,879
  MetLife Inc.    444,154     32,143
  Aflac Inc.    421,621     30,331
  Arthur J Gallagher & Co.    160,436     30,249
  Prudential Financial Inc.    278,654     27,715
  Allstate Corp.    202,138     27,410
  MSCI Inc. Class A     57,395     26,698
  Ameriprise Financial Inc.     80,681     25,122
  Bank of New York Mellon Corp.    550,317     25,050
  KKR & Co. Inc.    491,906     22,834
  State Street Corp.    263,747     20,459
  Discover Financial Services    207,808     20,330
  Willis Towers Watson plc     82,082     20,076
  M&T Bank Corp.    130,035     18,863
  T. Rowe Price Group Inc.    168,654     18,393
  Nasdaq Inc.    299,420     18,369
  Hartford Financial Services Group Inc.    240,627     18,247
  Fifth Third Bancorp    519,935     17,059
  First Republic Bank    139,080     16,952
* Arch Capital Group Ltd.    264,394     16,599
  Apollo Global Management Inc.    258,664     16,500
  Raymond James Financial Inc.    146,442     15,647
  Huntington Bancshares Inc.  1,094,906     15,438
  Principal Financial Group Inc.    183,172     15,372
  Regions Financial Corp.    710,848     15,326
  Citizens Financial Group Inc.    374,525     14,745
  Northern Trust Corp.    150,605     13,327
* Markel Corp.      9,664     12,732
  LPL Financial Holdings Inc.     57,585     12,448
  Cincinnati Financial Corp.    121,255     12,415
  KeyCorp    711,820     12,400
          Shares Market
Value•
($000)
  Broadridge Financial Solutions Inc.     88,558     11,878
  FactSet Research Systems Inc.     29,044     11,653
  W R Berkley Corp.    150,518     10,923
* SVB Financial Group     44,358     10,209
  Cboe Global Markets Inc.     79,923     10,028
  First Horizon Corp.    408,856     10,017
  Brown & Brown Inc.    174,520      9,942
  Everest Re Group Ltd.     29,904      9,906
  Loews Corp.    150,943      8,805
  Ares Management Corp. Class A    119,663      8,190
  Equitable Holdings Inc.    279,290      8,016
  Globe Life Inc.     66,231      7,984
  MarketAxess Holdings Inc.     27,060      7,547
  American Financial Group Inc.     54,602      7,496
  Fidelity National Financial Inc.    193,060      7,263
  Annaly Capital Management Inc.    341,478      7,198
  Reinsurance Group of America Inc.     50,475      7,172
  East West Bancorp Inc.    107,993      7,117
  Comerica Inc.    100,289      6,704
  Webster Financial Corp.    133,399      6,315
  Invesco Ltd.    341,800      6,149
  RenaissanceRe Holdings Ltd.     33,196      6,116
1 Franklin Resources Inc.    223,898      5,906
  Carlyle Group Inc.    194,896      5,816
  Cullen/Frost Bankers Inc.     43,492      5,815
  Commerce Bancshares Inc.     84,699      5,765
  First Citizens BancShares Inc. Class A      7,586      5,753
  Tradeweb Markets Inc. Class A     85,960      5,581
  Zions Bancorp NA    112,744      5,542
  Signature Bank     46,939      5,408
  SEI Investments Co.     92,698      5,404
  Interactive Brokers Group Inc. Class A     74,581      5,396
  Unum Group    128,245      5,262
  Old Republic International Corp.    210,920      5,094
  Ally Financial Inc.    206,158      5,041
  Assurant Inc.     39,928      4,993
  Erie Indemnity Co. Class A     19,224      4,781
  Prosperity Bancshares Inc.     64,762      4,707
  Western Alliance Bancorp     78,554      4,679
  AGNC Investment Corp.    448,973      4,647
  Affiliated Managers Group Inc.     28,812      4,565
  Stifel Financial Corp.     77,217      4,507
  Voya Financial Inc.     72,058      4,431
  Kinsale Capital Group Inc.     16,748      4,380
  SouthState Corp.     56,899      4,345
  RLI Corp.     32,812      4,307
  New York Community Bancorp Inc.    498,063      4,283
  Morningstar Inc.     19,642      4,254
  Jefferies Financial Group Inc.    121,021      4,149
  Starwood Property Trust Inc.    224,443      4,114
  Pinnacle Financial Partners Inc.     56,019      4,112
  Glacier Bancorp Inc.     82,597      4,082
  United Bankshares Inc.    100,384      4,065
  Primerica Inc.     28,642      4,062
  Selective Insurance Group Inc.     45,779      4,056
  Old National Bancorp    220,056      3,957
  Synovus Financial Corp.    104,823      3,936
*,1 Coinbase Global Inc. Class A    110,766      3,920
  First American Financial Corp.     73,876      3,867
  Wintrust Financial Corp.     45,136      3,815
* Robinhood Markets Inc. Class A    466,400      3,796
  Valley National Bancorp    334,107      3,779
  Blue Owl Capital Inc. Class A    337,037      3,573
  Lincoln National Corp.    115,968      3,563
  Popular Inc.     52,198      3,462
  First Financial Bankshares Inc.    100,248      3,449
  Home BancShares Inc.    149,628      3,410
 
12

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Cadence Bank    137,517      3,391
  FNB Corp.    259,029      3,380
  Bank OZK     83,293      3,337
  Houlihan Lokey Inc. Class A     37,995      3,312
  Hanover Insurance Group Inc.     24,200      3,270
  SLM Corp.    192,231      3,191
  Axis Capital Holdings Ltd.     57,343      3,106
  Independent Bank Corp. (Massachusetts)     36,343      3,068
  Hancock Whitney Corp.     61,529      2,977
  Essent Group Ltd.     76,486      2,974
  First Bancorp    169,680      2,963
  Umpqua Holdings Corp.    165,542      2,955
  American Equity Investment Life Holding Co.     64,039      2,921
  MGIC Investment Corp.    219,788      2,857
  Rithm Capital Corp.    349,339      2,854
  OneMain Holdings Inc.     84,580      2,817
  Lazard Ltd. Class A     80,807      2,802
  Assured Guaranty Ltd.     43,963      2,737
  White Mountains Insurance Group Ltd.      1,894      2,679
*,1 SoFi Technologies Inc.    574,299      2,648
  ServisFirst Bancshares Inc.     38,177      2,631
* Ryan Specialty Holdings Inc. Class A     63,171      2,622
* Brighthouse Financial Inc.     50,613      2,595
  United Community Banks Inc.     75,785      2,562
  CVB Financial Corp.     99,166      2,554
  First Hawaiian Inc.     96,438      2,511
  Blackstone Mortgage Trust Inc. Class A    118,233      2,503
  FirstCash Holdings Inc.     28,596      2,485
  Associated Banc-Corp    107,560      2,484
  Community Bank System Inc.     39,378      2,479
  Evercore Inc. Class A     22,559      2,461
  UMB Financial Corp.     29,376      2,453
  Kemper Corp.     48,794      2,401
* Credit Acceptance Corp.      5,002      2,373
  Bank of Hawaii Corp.     30,138      2,338
  Federated Hermes Inc. Class B     64,113      2,328
  Janus Henderson Group plc     98,910      2,326
  Radian Group Inc.    121,189      2,311
  First Interstate BancSystem Inc. Class A     59,384      2,295
  Ameris Bancorp     48,232      2,274
* Texas Capital Bancshares Inc.     37,574      2,266
  Pacific Premier Bancorp Inc.     70,426      2,223
  Cathay General Bancorp     53,373      2,177
  Eastern Bankshares Inc.    124,097      2,141
  WSFS Financial Corp.     46,282      2,098
  BankUnited Inc.     60,889      2,068
  Fulton Financial Corp.    122,450      2,061
  Simmons First National Corp. Class A     94,394      2,037
  PacWest Bancorp     88,689      2,035
  Atlantic Union Bankshares Corp.     56,812      1,996
  BOK Financial Corp.     19,214      1,994
  Jackson Financial Inc. Class A     57,047      1,985
* Mr Cooper Group Inc.     49,281      1,978
  Walker & Dunlop Inc.     24,870      1,952
* Enstar Group Ltd.      8,341      1,927
* Genworth Financial Inc. Class A    361,604      1,913
  CNO Financial Group Inc.     82,411      1,883
  Columbia Banking System Inc.     61,691      1,859
  Moelis & Co. Class A     48,376      1,856
  International Bancshares Corp.     40,346      1,846
  First Merchants Corp.     43,152      1,774
  Towne Bank     55,144      1,701
  First Financial Bancorp     68,297      1,655
  Independent Bank Group Inc.     27,229      1,636
  Park National Corp.     11,601      1,633
  Banner Corp.     25,603      1,618
  Washington Federal Inc.     47,887      1,607
          Shares Market
Value•
($000)
  WesBanco Inc.     43,456      1,607
  Hamilton Lane Inc. Class A     25,113      1,604
  Piper Sandler Cos.     12,200      1,588
* Axos Financial Inc.     41,263      1,577
  Seacoast Banking Corp. of Florida     49,904      1,557
  Arbor Realty Trust Inc.    117,263      1,547
  Trustmark Corp.     43,844      1,531
  Virtu Financial Inc. Class A     74,581      1,522
  Renasant Corp.     39,385      1,480
  TriCo Bancshares     28,265      1,441
  Lakeland Financial Corp.     19,365      1,413
  Artisan Partners Asset Management Inc. Class A     46,793      1,390
  Heartland Financial USA Inc.     29,504      1,375
* Trupanion Inc.     28,674      1,363
* NMI Holdings Inc. Class A     65,096      1,361
  National Bank Holdings Corp. Class A     31,871      1,341
  Northwest Bancshares Inc.     95,807      1,339
* Focus Financial Partners Inc. Class A     35,470      1,322
  Stock Yards Bancorp Inc.     20,292      1,319
  Claros Mortgage Trust Inc.     88,700      1,305
  NBT Bancorp Inc.     29,451      1,279
  Enterprise Financial Services Corp.     25,941      1,270
  TPG Inc. Class A     45,591      1,269
  Navient Corp.     76,548      1,259
  Cohen & Steers Inc.     19,235      1,242
  Westamerica Bancorp     20,952      1,236
  PJT Partners Inc. Class A     16,627      1,225
* Cannae Holdings Inc.     58,096      1,200
  Horace Mann Educators Corp.     32,016      1,196
  BancFirst Corp.     13,363      1,178
* StoneX Group Inc.     12,274      1,170
* BRP Group Inc. Class A     45,663      1,148
  Hilltop Holdings Inc.     37,362      1,121
  Apollo Commercial Real Estate Finance Inc.    102,800      1,106
  Veritex Holdings Inc.     39,277      1,103
  Sandy Spring Bancorp Inc.     30,963      1,091
  Provident Financial Services Inc.     50,630      1,081
  City Holding Co.     11,542      1,074
  Virtus Investment Partners Inc.      5,611      1,074
  PennyMac Financial Services Inc.     18,687      1,059
  Two Harbors Investment Corp.     67,061      1,058
  First Commonwealth Financial Corp.     75,353      1,053
  Origin Bancorp Inc.     28,250      1,037
  Hope Bancorp Inc.     80,705      1,034
* Bancorp Inc.     36,263      1,029
  Chimera Investment Corp.    186,331      1,025
  S&T Bancorp Inc.     29,832      1,020
  Stellar Bancorp Inc.     34,535      1,017
  BGC Partners Inc. Class A    266,472      1,005
  Corebridge Financial Inc.     49,633        996
  Eagle Bancorp Inc.     22,556        994
  StepStone Group Inc. Class A     39,484        994
  Capitol Federal Financial Inc.    111,812        967
  Ladder Capital Corp. Class A     95,925        963
  Pathward Financial Inc.     22,053        949
* PRA Group Inc.     27,748        937
  FB Financial Corp.     25,633        926
1 Compass Diversified Holdings     50,800        926
  PennyMac Mortgage Investment Trust     74,416        922
  OFG Bancorp     32,683        901
  Safety Insurance Group Inc.     10,682        900
  Stewart Information Services Corp.     21,020        898
  Berkshire Hills Bancorp Inc.     30,001        897
  First Busey Corp.     36,067        892
  ARMOUR Residential REIT Inc.    156,325        880
* Encore Capital Group Inc.     18,315        878
  AMERISAFE Inc.     16,825        874
 
13

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Triumph Financial Inc.     17,721        866
  Nelnet Inc. Class A      9,471        859
  Brookline Bancorp Inc.     60,096        850
  Lakeland Bancorp Inc.     47,448        836
  Dime Community Bancshares Inc.     26,247        835
* Palomar Holdings Inc.     18,357        829
* Enova International Inc.     21,541        827
* Blucora Inc.     31,986        817
  OceanFirst Financial Corp.     38,392        816
  Employers Holdings Inc.     18,775        810
  Southside Bancshares Inc.     22,295        802
  ConnectOne Bancorp Inc.     32,319        782
  German American Bancorp Inc.     20,763        774
  Ready Capital Corp.     69,260        772
  New York Mortgage Trust Inc.    299,871        768
  Heritage Financial Corp.     24,999        766
  Live Oak Bancshares Inc.     25,351        766
  Franklin BSP Realty Trust Inc.     59,221        764
  Preferred Bank     10,231        763
  Federal Agricultural Mortgage Corp. Class C      6,747        760
  Premier Financial Corp.     27,886        752
  MFA Financial Inc.     74,007        729
  ProAssurance Corp.     40,958        716
* Nicolet Bankshares Inc.      8,820        704
  Tompkins Financial Corp.      9,076        704
  Enact Holdings Inc.     29,100        702
  Banc of California Inc.     43,520        693
* MoneyGram International Inc.     63,600        693
*,1 Upstart Holdings Inc.     52,146        689
  Cowen Inc. Class A     17,660        682
  Mercury General Corp.     19,781        677
* LendingClub Corp.     75,742        667
* Blue Foundry Bancorp     51,382        660
* Columbia Financial Inc.     30,413        658
* Customers Bancorp Inc.     22,811        646
  QCR Holdings Inc.     12,892        640
  Redwood Trust Inc.     93,146        630
  TFS Financial Corp.     43,322        624
  Business First Bancshares Inc.     26,976        597
  Bank First Corp.      6,300        585
  Washington Trust Bancorp Inc.     12,408        585
  Old Second Bancorp Inc.     36,167        580
1 Rocket Cos. Inc. Class A     82,700        579
  United Fire Group Inc.     21,075        577
  Northfield Bancorp Inc.     36,333        572
  Donegal Group Inc. Class B     31,900        565
  Argo Group International Holdings Ltd.     21,800        564
  Amerant Bancorp Inc. Class A     20,721        556
  Brightsphere Investment Group Inc.     26,882        553
* Ambac Financial Group Inc.     31,321        546
  Camden National Corp.     12,984        541
  First Bancshares Inc.     16,891        541
  Peoples Bancorp Inc.     18,937        535
  KKR Real Estate Finance Trust Inc.     38,141        532
  Kearny Financial Corp.     52,317        531
  Great Southern Bancorp Inc.      8,882        528
  First Mid Bancshares Inc.     16,367        525
  TrustCo Bank Corp.     13,865        521
  Community Trust Bancorp Inc.     11,278        518
  iStar Inc.     67,853        518
* Open Lending Corp. Class A     76,637        517
  Hanmi Financial Corp.     20,656        511
  Ellington Financial Inc.     41,200        510
  Heritage Commerce Corp.     39,071        508
  Peapack-Gladstone Financial Corp.     13,498        502
  First Foundation Inc.     34,444        494
  Univest Financial Corp.     18,427        481
          Shares Market
Value•
($000)
  Dynex Capital Inc.     37,223        473
* Goosehead Insurance Inc. Class A     13,782        473
* SiriusPoint Ltd.     79,922        472
* Lemonade Inc.     34,385        470
  Victory Capital Holdings Inc. Class A     17,403        467
* CrossFirst Bankshares Inc.     37,503        465
* Metropolitan Bank Holding Corp.      7,788        457
  WisdomTree Inc.     83,221        454
  P10 Inc. Class A     41,835        446
  B. Riley Financial Inc.     12,794        438
* MBIA Inc.     33,738        434
*,1 Riot Blockchain Inc.    124,076        421
  Bar Harbor Bankshares     13,006        417
*,1 Silvergate Capital Corp. Class A     23,400        407
  Cambridge Bancorp      4,871        405
  Mercantile Bank Corp.     11,852        397
  James River Group Holdings Ltd.     18,786        393
  HarborOne Bancorp Inc.     28,184        392
  Flushing Financial Corp.     20,120        390
  Bank of Marin Bancorp     11,775        387
  Alerus Financial Corp.     16,441        384
  HBT Financial Inc.     19,643        384
  1st Source Corp.      7,223        383
  Central Pacific Financial Corp.     18,857        382
* Carter Bankshares Inc.     23,054        382
  Diamond Hill Investment Group Inc.      2,051        379
  Byline Bancorp Inc.     16,290        374
  Horizon Bancorp Inc.     24,347        367
* AssetMark Financial Holdings Inc.     15,755        362
  Arrow Financial Corp.     10,610        360
  BrightSpire Capital Inc. Class A     56,913        355
  TPG RE Finance Trust Inc.     51,600        350
  Midland States Bancorp Inc.     12,964        345
  CNB Financial Corp.     14,373        342
  Shore Bancshares Inc.     19,614        342
  Broadmark Realty Capital Inc.     95,813        341
* EZCORP Inc. Class A     41,670        340
  MidWestOne Financial Group Inc.     10,700        340
  Equity Bancshares Inc. Class A     10,342        338
  Farmers National Banc Corp.     23,843        337
  Mid Penn Bancorp Inc.     11,147        334
  Invesco Mortgage Capital Inc.     25,990        331
  Merchants Bancorp     13,558        330
  CBL & Associates Properties Inc.     14,200        328
  First Community Bankshares Inc.      9,546        324
  Farmers & Merchants Bancorp Inc.     11,884        323
  Amalgamated Financial Corp.     13,999        323
  National Western Life Group Inc. Class A      1,144        321
  HomeStreet Inc.     11,588        320
* Clearwater Analytics Holdings Inc. Class A     16,984        318
  HomeTrust Bancshares Inc.     13,088        316
  First Financial Corp.      6,821        314
  Capital City Bank Group Inc.      9,619        313
* Coastal Financial Corp.      6,540        311
  Republic Bancorp Inc. Class A      7,532        308
1 Orchid Island Capital Inc.     29,283        307
  Macatawa Bank Corp.     27,543        304
  Independent Bank Corp. (Michigan)     12,460        298
*,1 Marathon Digital Holdings Inc.     87,200        298
* California Bancorp     12,500        297
  John Marshall Bancorp Inc.     10,000        288
  Universal Insurance Holdings Inc.     27,082        287
  GCM Grosvenor Inc. Class A     37,046        282
  Waterstone Financial Inc.     16,159        279
  BayCom Corp.     14,250        270
  Capstar Financial Holdings Inc.     15,265        270
* Third Coast Bancshares Inc.     14,600        269
 
14

 

Balanced Index Fund
          Shares Market
Value•
($000)
* F&G Annuities & Life Inc.     13,447        269
  Hingham Institution For Savings        962        265
  Ames National Corp.     11,200        264
  Plumas Bancorp      7,030        260
  Metrocity Bankshares Inc.     12,006        260
  PCSB Financial Corp.     13,132        250
* Forge Global Holdings Inc.    143,168        248
  West Bancorp Inc.      9,617        246
  Financial Institutions Inc.     10,038        245
  MainStreet Bancshares Inc.      8,911        245
  NexPoint Diversified Real Estate Trust     21,800        244
  ChoiceOne Financial Services Inc.      8,370        243
  Community Financial Corp.      5,956        238
  SmartFinancial Inc.      8,647        238
* Oscar Health Inc. Class A     96,200        237
  Northrim Bancorp Inc.      4,327        236
  American National Bankshares Inc.      6,302        233
  Home Bancorp Inc.      5,803        232
  Northeast Bank      5,474        230
  Southern Missouri Bancorp Inc.      5,023        230
  Guaranty Bancshares Inc.      6,616        229
* Malvern Bancorp Inc.     12,900        229
  Civista Bancshares Inc.     10,116        223
  Peoples Financial Services Corp.      4,308        223
  First Bancorp Inc.      7,333        220
* Greenlight Capital Re Ltd. Class A     27,050        220
1 UWM Holdings Corp. Class A     66,500        220
  First of Long Island Corp.     12,084        218
  Granite Point Mortgage Trust Inc.     40,300        216
  Tiptree Inc. Class A     15,559        215
  Five Star Bancorp      7,900        215
  Enterprise Bancorp Inc.      6,024        213
  Salisbury Bancorp Inc.      6,710        211
  HCI Group Inc.      5,310        210
* Southern First Bancshares Inc.      4,512        206
* Bridgewater Bancshares Inc.     11,567        205
  FS Bancorp Inc.      6,138        205
* FVCBankcorp Inc.     10,750        205
  Citizens & Northern Corp.      8,811        201
* Ponce Financial Group Inc.     21,600        201
  Central Valley Community Bancorp      9,286        197
  Southern States Bancshares Inc.      6,798        197
* ECB Bancorp Inc.     12,300        197
  Capital Bancorp Inc.      8,094        191
  Richmond Mutual Bancorp Inc.     14,600        190
* Professional Holding Corp. Class A      6,800        189
  AFC Gamma Inc.     12,000        189
  PCB Bancorp     10,610        188
  FNCB Bancorp Inc.     22,643        186
  ACNB Corp.      4,637        185
  LCNB Corp.     10,252        185
  Regional Management Corp.      6,593        185
  Red River Bancshares Inc.      3,606        184
  Sierra Bancorp      8,494        180
  Summit Financial Group Inc.      7,124        177
  Blue Ridge Bankshares Inc.     14,200        177
* Pioneer Bancorp Inc.     15,418        176
* LendingTree Inc.      8,224        175
* Guild Holdings Co. Class A     17,300        175
  South Plains Financial Inc.      6,236        172
  Evans Bancorp Inc.      4,577        171
  Luther Burbank Corp.     15,347        171
  Codorus Valley Bancorp Inc.      7,091        169
  RBB Bancorp      8,100        169
  National Bankshares Inc.      4,164        168
  Investors Title Co.      1,135        167
  Eagle Bancorp Montana Inc.     10,100        163
          Shares Market
Value•
($000)
  First Bank     11,738        162
  Esquire Financial Holdings Inc.      3,649        158
  First Business Financial Services Inc.      4,314        158
  Primis Financial Corp.     13,308        158
  BCB Bancorp Inc.      8,673        156
* Hippo Holdings Inc.     10,907        148
  Greene County Bancorp Inc.      2,506        144
  Medallion Financial Corp.     19,864        142
  Colony Bankcorp Inc.     11,200        142
  Middlefield Banc Corp.      5,094        140
  Western New England Bancorp Inc.     14,848        140
  Greenhill & Co. Inc.     13,600        139
  Sculptor Capital Management Inc. Class A     15,482        134
  Chicago Atlantic Real Estate Finance Inc.      8,900        134
  MVB Financial Corp.      6,021        133
  Northeast Community Bancorp Inc.      8,905        133
  Investar Holding Corp.      6,106        131
  First Internet Bancorp      5,320        129
  Fidelity D&D Bancorp Inc.      2,713        128
  Norwood Financial Corp.      3,727        125
* Ocwen Financial Corp.      4,011        123
  ESSA Bancorp Inc.      5,800        121
  Orrstown Financial Services Inc.      5,232        121
* World Acceptance Corp.      1,832        121
  Chemung Financial Corp.      2,549        117
  First Northwest Bancorp      7,546        116
* Republic First Bancorp Inc.     54,003        116
  Timberland Bancorp Inc.      3,406        116
  BankFinancial Corp.     10,939        115
  Great Ajax Corp.     15,903        115
  Penns Woods Bancorp Inc.      4,312        115
  First Financial Northwest Inc.      7,628        114
  Riverview Bancorp Inc.     14,806        114
  Bank of Princeton      3,544        112
1 First Guaranty Bancshares Inc.      4,784        112
  AG Mortgage Investment Trust Inc.     21,166        112
  Territorial Bancorp Inc.      4,529        109
  First Community Corp.      4,821        106
  Provident Bancorp Inc.     14,580        106
  Parke Bancorp Inc.      5,084        105
  Oppenheimer Holdings Inc. Class A      2,396        101
* Oportun Financial Corp.     18,084        100
  C&F Financial Corp.      1,671         97
* First Western Financial Inc.      3,400         96
  OP Bancorp      8,347         93
  Associated Capital Group Inc. Class A      2,140         90
  Crawford & Co. Class A     16,065         89
* Hagerty Inc. Class A     10,600         89
  Unity Bancorp Inc.      3,156         86
* Trean Insurance Group Inc.     14,300         86
  William Penn Bancorp      7,000         85
  Donegal Group Inc. Class A      5,852         83
  Bankwell Financial Group Inc.      2,772         82
  Orange County Bancorp Inc.      1,719         80
  SB Financial Group Inc.      4,602         77
* Maiden Holdings Ltd.     35,700         75
* Sterling Bancorp Inc.     12,013         73
* eHealth Inc.     14,951         72
* NI Holdings Inc.      5,165         69
  Finward Bancorp      1,917         69
* Citizens Inc. Class A     31,480         67
  Ellington Residential Mortgage REIT      9,773         67
  Nexpoint Real Estate Finance Inc.      4,115         65
* Doma Holdings Inc.    142,400         64
  Peoples Bancorp of North Carolina Inc.      1,927         63
  Curo Group Holdings Corp.     17,313         61
  Sachem Capital Corp.     17,836         59
 
15

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Lument Finance Trust Inc.     30,449         58
* Security National Financial Corp. Class A      7,802         57
* Sunlight Financial Holdings Inc.     44,155         57
  First United Corp.      2,828         56
  Meridian Corp.      1,691         51
  Western Asset Mortgage Capital Corp.      5,630         51
  Silvercrest Asset Management Group Inc. Class A      2,679         50
* Consumer Portfolio Services Inc.      5,489         49
  Bank7 Corp.      1,874         48
  Provident Financial Holdings Inc.      3,235         45
* ACRES Commercial Realty Corp.      5,440         45
  CB Financial Services Inc.      2,000         43
*,1 Bakkt Holdings Inc.     36,100         43
  First Savings Financial Group Inc.      2,109         42
  Westwood Holdings Group Inc.      3,791         42
* BM Technologies Inc.      7,778         41
  Cherry Hill Mortgage Investment Corp.      6,865         40
* Safeguard Scientifics Inc.     12,586         39
* GoHealth Inc. Class A      3,633         38
  Seven Hills Realty Trust      3,800         35
  AmeriServ Financial Inc.      8,751         34
  US Global Investors Inc. Class A      9,831         28
* Root Inc. Class A      5,511         25
* Great Elm Group Inc.     10,698         22
  Hawthorn Bancshares Inc.        948         21
  Hennessy Advisors Inc.      2,219         19
  Union Bankshares Inc.        804         19
  Angel Oak Mortgage Inc.      3,309         16
* Elevate Credit Inc.      5,276          9
  Sound Financial Bancorp Inc.        195          8
* USCB Financial Holdings Inc.        587          7
* Nicholas Financial Inc.        983          6
* Affinity Bancshares Inc.        367          6
* NeuroOne Medical Technologies Corp.      4,608          6
* LM Funding America Inc.      7,878          4
* Finwise Bancorp        344          3
* FG Financial Group Inc.      1,083          3
* Broadway Financial Corp.        546          1
                                               3,389,617
Health Care (8.9%)
  UnitedHealth Group Inc.    707,690    375,203
  Johnson & Johnson  1,980,484    349,852
  Eli Lilly & Co.    648,108    237,104
  Pfizer Inc.  4,252,747    217,911
  AbbVie Inc.  1,339,745    216,516
  Merck & Co. Inc.  1,921,345    213,173
  Thermo Fisher Scientific Inc.    297,072    163,595
  Abbott Laboratories  1,320,280    144,954
  Danaher Corp.    496,701    131,834
  Bristol-Myers Squibb Co.  1,611,458    115,944
  Amgen Inc.    403,748    106,040
  Elevance Health Inc.    180,951     92,822
  Gilead Sciences Inc.    950,442     81,595
  Medtronic plc  1,008,619     78,390
  Cigna Corp.    231,315     76,644
* Intuitive Surgical Inc.    267,897     71,086
  Stryker Corp.    258,309     63,154
* Vertex Pharmaceuticals Inc.    194,817     56,259
* Regeneron Pharmaceuticals Inc.     77,016     55,566
  Becton Dickinson & Co.    214,710     54,601
* Boston Scientific Corp.  1,082,881     50,105
  Humana Inc.     95,724     49,029
  Zoetis Inc. Class A    317,254     46,494
* Moderna Inc.    247,397     44,437
  HCA Healthcare Inc.    160,679     38,557
* Centene Corp.    428,850     35,170
* Edwards Lifesciences Corp.    468,381     34,946
          Shares Market
Value•
($000)
  Agilent Technologies Inc.    223,908     33,508
* Dexcom Inc.    293,152     33,197
* Biogen Inc.    108,890     30,154
* IQVIA Holdings Inc.    140,971     28,884
* IDEXX Laboratories Inc.     62,918     25,668
* Illumina Inc.    118,792     24,020
  ResMed Inc.    110,707     23,041
* Alnylam Pharmaceuticals Inc.     93,864     22,307
  Zimmer Biomet Holdings Inc.    158,707     20,235
* Horizon Therapeutics plc    172,063     19,581
  Baxter International Inc.    380,546     19,396
* Veeva Systems Inc. Class A    106,928     17,256
  Laboratory Corp. of America Holdings     66,981     15,773
* Insulet Corp.     52,359     15,414
  Cardinal Health Inc.    197,907     15,213
* Molina Healthcare Inc.     44,504     14,696
* BioMarin Pharmaceutical Inc.    139,922     14,481
  STERIS plc     76,042     14,044
* Hologic Inc.    185,413     13,871
* Seagen Inc.    106,561     13,694
  PerkinElmer Inc.     96,012     13,463
  Quest Diagnostics Inc.     85,637     13,397
  West Pharmaceutical Services Inc.     55,752     13,121
  Cooper Cos. Inc.     37,263     12,322
* Align Technology Inc.     56,369     11,888
* Incyte Corp.    144,035     11,569
  Royalty Pharma plc Class A    283,547     11,206
* Avantor Inc.    486,800     10,267
  Viatris Inc.    920,055     10,240
  Bio-Techne Corp.    118,708      9,839
* United Therapeutics Corp.     34,290      9,536
  Teleflex Inc.     35,363      8,828
* Neurocrine Biosciences Inc.     73,162      8,738
* Charles River Laboratories International Inc.     38,138      8,310
* Henry Schein Inc.    103,344      8,254
* Sarepta Therapeutics Inc.     62,539      8,104
* Jazz Pharmaceuticals plc     45,696      7,280
* Repligen Corp.     41,780      7,074
* Bio-Rad Laboratories Inc. Class A     15,801      6,644
* Exact Sciences Corp.    134,048      6,637
  Universal Health Services Inc. Class B     46,153      6,502
* Penumbra Inc.     27,389      6,093
* Novocure Ltd.     80,176      5,881
* Halozyme Therapeutics Inc.    103,364      5,881
  Chemed Corp.     11,305      5,770
* Catalent Inc.    127,637      5,745
* Acadia Healthcare Co. Inc.     69,094      5,688
* Shockwave Medical Inc.     27,435      5,641
* Masimo Corp.     38,119      5,640
* Inspire Medical Systems Inc.     21,763      5,482
  Organon & Co.    193,884      5,415
  Bruker Corp.     78,806      5,386
  DENTSPLY SIRONA Inc.    163,726      5,213
  Encompass Health Corp.     75,991      4,545
* Elanco Animal Health Inc.    366,305      4,476
* Globus Medical Inc. Class A     58,683      4,358
* Envista Holdings Corp.    124,662      4,197
* Karuna Therapeutics Inc.     20,647      4,057
* Tenet Healthcare Corp.     82,587      4,029
* HealthEquity Inc.     64,526      3,977
* Ionis Pharmaceuticals Inc.    105,227      3,974
* Exelixis Inc.    240,728      3,861
  Ensign Group Inc.     39,609      3,747
* Medpace Holdings Inc.     17,475      3,712
* LHC Group Inc.     22,742      3,677
* Apellis Pharmaceuticals Inc.     70,091      3,624
* Option Care Health Inc.    118,567      3,568
 
16

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Perrigo Co. plc    100,709      3,433
* Azenta Inc.     58,086      3,382
* Intra-Cellular Therapies Inc.     63,784      3,375
* QuidelOrtho Corp.     38,302      3,281
* Alkermes plc    125,158      3,270
* Madrigal Pharmaceuticals Inc.     11,130      3,230
* Arrowhead Pharmaceuticals Inc.     79,044      3,206
* Natera Inc.     78,982      3,173
  Premier Inc. Class A     90,591      3,169
* Integra LifeSciences Holdings Corp.     55,564      3,115
* Haemonetics Corp.     39,119      3,077
* Cytokinetics Inc.     66,853      3,063
* Merit Medical Systems Inc.     42,263      2,985
* Prometheus Biosciences Inc.     26,415      2,906
* Syneos Health Inc.     78,208      2,869
* DaVita Inc.     37,693      2,815
* Vaxcyte Inc.     56,232      2,696
* ICU Medical Inc.     17,003      2,678
* Amicus Therapeutics Inc.    215,043      2,626
* Teladoc Health Inc.    110,442      2,612
* Lantheus Holdings Inc.     50,813      2,589
* agilon health Inc.    156,241      2,522
* 10X Genomics Inc. Class A     67,905      2,474
* Axonics Inc.     38,939      2,435
* Ultragenyx Pharmaceutical Inc.     52,184      2,418
* Doximity Inc. Class A     70,359      2,361
* Neogen Corp.    152,628      2,325
* Denali Therapeutics Inc.     82,972      2,307
* Prestige Consumer Healthcare Inc.     36,399      2,279
* 1Life Healthcare Inc.    134,893      2,254
* Oak Street Health Inc.    103,803      2,233
* IVERIC bio Inc.    102,213      2,188
* Tandem Diabetes Care Inc.     48,374      2,174
* PTC Therapeutics Inc.     56,936      2,173
* Intellia Therapeutics Inc.     61,738      2,154
* Amedisys Inc.     24,976      2,086
* Axsome Therapeutics Inc.     26,806      2,068
* Insmed Inc.    102,706      2,052
* iRhythm Technologies Inc.     21,727      2,035
* Guardant Health Inc.     74,779      2,034
* Blueprint Medicines Corp.     45,871      2,010
* Inari Medical Inc.     31,534      2,004
  CONMED Corp.     22,493      1,994
* Beam Therapeutics Inc.     50,511      1,975
* Akero Therapeutics Inc.     35,317      1,935
  Select Medical Holdings Corp.     76,045      1,888
  Patterson Cos. Inc.     67,060      1,880
* Vir Biotechnology Inc.     73,906      1,871
* Progyny Inc.     58,912      1,835
* Evolent Health Inc. Class A     65,199      1,831
* Enovis Corp.     34,183      1,829
* STAAR Surgical Co.     37,070      1,799
* Mirati Therapeutics Inc.     38,568      1,748
* Omnicell Inc.     33,920      1,710
* Integer Holdings Corp.     24,469      1,675
* NuVasive Inc.     40,501      1,670
* REVOLUTION Medicines Inc.     67,941      1,618
* BioCryst Pharmaceuticals Inc.    140,809      1,616
* Celldex Therapeutics Inc.     36,000      1,605
* Signify Health Inc. Class A     55,448      1,589
* Ginkgo Bioworks Holdings Inc. Class A    921,886      1,558
* ACADIA Pharmaceuticals Inc.     96,465      1,536
* Cerevel Therapeutics Holdings Inc.     48,100      1,517
* Glaukos Corp.     34,543      1,509
* Certara Inc.     92,516      1,487
* AtriCure Inc.     32,970      1,463
* Supernus Pharmaceuticals Inc.     40,997      1,462
          Shares Market
Value•
($000)
* Silk Road Medical Inc.     27,451      1,451
* TransMedics Group Inc.     22,931      1,415
* Relay Therapeutics Inc.     93,645      1,399
* Catalyst Pharmaceuticals Inc.     75,000      1,395
* Amylyx Pharmaceuticals Inc.     37,632      1,391
* Sage Therapeutics Inc.     36,248      1,382
* Corcept Therapeutics Inc.     67,403      1,369
* Ironwood Pharmaceuticals Inc. Class A    107,020      1,326
* Phreesia Inc.     40,622      1,315
* Pacific Biosciences of California Inc.    160,575      1,314
* Surgery Partners Inc.     46,757      1,303
* Pacira BioSciences Inc.     33,454      1,292
* Arvinas Inc.     37,694      1,290
* Xencor Inc.     48,973      1,275
* Veracyte Inc.     53,419      1,268
* Addus HomeCare Corp.     12,566      1,250
* Maravai LifeSciences Holdings Inc. Class A     85,735      1,227
* Syndax Pharmaceuticals Inc.     48,187      1,226
* Krystal Biotech Inc.     15,447      1,224
* Rhythm Pharmaceuticals Inc.     40,461      1,178
* TG Therapeutics Inc.     98,767      1,168
* Harmony Biosciences Holdings Inc.     21,170      1,166
* Agios Pharmaceuticals Inc.     41,488      1,165
* AdaptHealth Corp. Class A     60,235      1,158
* Revance Therapeutics Inc.     62,192      1,148
* Meridian Bioscience Inc.     34,159      1,134
* Avidity Biosciences Inc.     50,315      1,116
  Embecta Corp.     43,642      1,104
* MannKind Corp.    202,620      1,068
*,1 PROCEPT BioRobotics Corp.     25,518      1,060
* SpringWorks Therapeutics Inc.     40,506      1,054
* FibroGen Inc.     65,127      1,043
* Nevro Corp.     26,322      1,042
* Owens & Minor Inc.     53,373      1,042
* Dynavax Technologies Corp.     97,461      1,037
* CorVel Corp.      6,985      1,015
* Chinook Therapeutics Inc.     37,944        994
* Privia Health Group Inc.     43,538        989
* Travere Therapeutics Inc.     46,950        987
* Pediatrix Medical Group Inc.     65,446        973
* Vericel Corp.     36,244        955
* Avanos Medical Inc.     34,214        926
* Twist Bioscience Corp.     38,555        918
* R1 RCM Inc.     83,102        910
* Replimune Group Inc.     33,343        907
* Outset Medical Inc.     34,549        892
* DICE Therapeutics Inc.     28,573        891
* ModivCare Inc.      9,812        880
* Ligand Pharmaceuticals Inc.     13,152        879
* Keros Therapeutics Inc.     17,969        863
* Apollo Medical Holdings Inc.     28,897        855
*,1 Cassava Sciences Inc.     28,700        848
* Myriad Genetics Inc.     57,956        841
* Kymera Therapeutics Inc.     33,379        833
* ImmunoGen Inc.    166,161        824
* Reata Pharmaceuticals Inc. Class A     21,633        822
* Rocket Pharmaceuticals Inc.     41,980        822
* Viridian Therapeutics Inc.     27,741        810
  US Physical Therapy Inc.      9,960        807
* NeoGenomics Inc.     87,102        805
* Warby Parker Inc. Class A     59,524        803
* NextGen Healthcare Inc.     42,598        800
* Arcus Biosciences Inc.     37,550        777
* Immunovant Inc.     43,400        770
* Alignment Healthcare Inc.     64,789        762
* Amphastar Pharmaceuticals Inc.     27,177        761
* Ideaya Biosciences Inc.     41,678        757
 
17

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Ventyx Biosciences Inc.     23,028        755
* Provention Bio Inc.     69,933        739
* Adaptive Biotechnologies Corp.     95,724        731
* Day One Biopharmaceuticals Inc.     33,661        724
* Arcellx Inc.     23,184        718
* UFP Technologies Inc.      6,036        712
* Aclaris Therapeutics Inc.     44,964        708
  LeMaitre Vascular Inc.     15,395        708
* Imago Biosciences Inc.     19,679        707
  Healthcare Services Group Inc.     58,412        701
* Iovance Biotherapeutics Inc.    109,347        699
* Innoviva Inc.     52,415        694
* RadNet Inc.     36,356        685
* Cytek Biosciences Inc.     66,218        676
* Enanta Pharmaceuticals Inc.     14,469        673
* Inhibrx Inc.     27,165        669
* Recursion Pharmaceuticals Inc. Class A     86,532        667
* Arcutis Biotherapeutics Inc.     44,906        665
* Novavax Inc.     64,400        662
* Geron Corp.    272,053        658
* REGENXBIO Inc.     28,991        658
* Sotera Health Co.     78,231        652
* Fate Therapeutics Inc.     63,965        645
* Crinetics Pharmaceuticals Inc.     34,649        634
* Bridgebio Pharma Inc.     82,622        630
* Kura Oncology Inc.     50,715        629
* Nuvalent Inc. Class A     21,066        627
* Verve Therapeutics Inc.     32,020        620
* American Well Corp. Class A    218,727        619
  National HealthCare Corp.     10,338        615
* Zentalis Pharmaceuticals Inc.     30,301        610
* ADMA Biologics Inc.    156,471        607
* Hims & Hers Health Inc.     94,600        606
* Agenus Inc.    251,217        603
* Varex Imaging Corp.     29,662        602
* ViewRay Inc.    134,216        601
* Treace Medical Concepts Inc.     26,140        601
* Avid Bioservices Inc.     43,517        599
* Deciphera Pharmaceuticals Inc.     36,510        598
* Altimmune Inc.     35,370        582
* Viking Therapeutics Inc.     61,875        582
  National Research Corp.     15,398        574
* Collegium Pharmaceutical Inc.     24,298        564
* Cutera Inc.     12,390        548
* Morphic Holding Inc.     20,300        543
* BioLife Solutions Inc.     29,559        538
* AnaptysBio Inc.     17,100        530
* Cerus Corp.    145,208        530
* 23andMe Holding Co.    245,300        530
* Pliant Therapeutics Inc.     27,222        526
* CTI BioPharma Corp.     86,776        522
* Theravance Biopharma Inc.     46,501        522
* Enhabit Inc.     39,395        518
* Cogent Biosciences Inc.     44,653        516
* Anavex Life Sciences Corp.     55,577        515
* Alphatec Holdings Inc.     41,167        508
  Atrion Corp.        896        501
* Heska Corp.      8,036        500
* EQRx Inc.    200,300        493
* Paragon 28 Inc.     25,752        492
* Editas Medicine Inc. Class A     54,137        480
* Coherus Biosciences Inc.     60,235        477
* Agiliti Inc.     28,916        472
*,1 Point Biopharma Global Inc.     63,922        466
* OrthoPediatrics Corp.     11,689        464
*,1 Zymeworks Inc.     58,200        457
* Bluebird Bio Inc.     65,600        454
          Shares Market
Value•
($000)
* Accolade Inc.     57,610        449
* Fulgent Genetics Inc.     15,018        447
* Cardiovascular Systems Inc.     32,605        444
* Allakos Inc.     52,074        438
* RAPT Therapeutics Inc.     21,985        435
* AngioDynamics Inc.     31,392        432
* Intercept Pharmaceuticals Inc.     34,100        422
* Emergent BioSolutions Inc.     35,612        421
* CareDx Inc.     36,859        421
* Surmodics Inc.     12,342        421
* Ardelyx Inc.    146,000        416
* Castle Biosciences Inc.     17,567        414
* Sangamo Therapeutics Inc.    130,822        411
* 4D Molecular Therapeutics Inc.     18,526        411
* Allogene Therapeutics Inc.     65,133        410
*,1 Sharecare Inc.    251,400        402
* Kezar Life Sciences Inc.     56,967        401
* Brookdale Senior Living Inc.    146,031        399
* Community Health Systems Inc.     92,456        399
* Cymabay Therapeutics Inc.     63,502        398
* Artivion Inc.     32,432        393
* Anika Therapeutics Inc.     13,242        392
* Seres Therapeutics Inc.     69,975        392
* Tango Therapeutics Inc.     53,400        387
* OPKO Health Inc.    308,361        385
* Mirum Pharmaceuticals Inc.     19,537        381
* Protagonist Therapeutics Inc.     33,765        368
* Mersana Therapeutics Inc.     62,604        367
* Lyell Immunopharma Inc.    105,726        367
* HealthStream Inc.     14,691        365
* MaxCyte Inc.     66,640        364
* Health Catalyst Inc.     34,173        363
* Cara Therapeutics Inc.     33,414        359
* ANI Pharmaceuticals Inc.      8,894        358
* Alector Inc.     38,347        354
* Inogen Inc.     17,882        352
* Orthofix Medical Inc.     17,120        351
*,1 ImmunityBio Inc.     68,635        348
* Computer Programs & Systems Inc.     12,734        347
* Albireo Pharma Inc.     15,900        344
* DocGo Inc.     48,700        344
* Nektar Therapeutics Class A    151,005        341
* Quanterix Corp.     24,560        340
* Compass Therapeutics Inc.     66,900        337
* Senseonics Holdings Inc.    324,200        334
* PMV Pharmaceuticals Inc.     37,924        330
* Nurix Therapeutics Inc.     29,820        327
* Arcturus Therapeutics Holdings Inc.     19,143        325
*,1 Bionano Genomics Inc.    222,000        324
* Kiniksa Pharmaceuticals Ltd. Class A     21,265        319
* AVEO Pharmaceuticals Inc.     21,170        316
* iTeos Therapeutics Inc.     16,182        316
* LifeStance Health Group Inc.     63,584        314
* MacroGenics Inc.     46,700        313
1 Zynex Inc.     22,504        313
  Utah Medical Products Inc.      3,090        311
* Vanda Pharmaceuticals Inc.     41,986        310
* 89bio Inc.     24,064        306
* Aldeyra Therapeutics Inc.     43,700        304
* Invitae Corp.    162,468        302
* Astria Therapeutics Inc.     20,200        301
*,1 Bioxcel Therapeutics Inc.     13,911        299
* Esperion Therapeutics Inc.     47,475        296
* OraSure Technologies Inc.     61,474        296
* Multiplan Corp.    257,400        296
* Axogen Inc.     29,257        292
* SI-BONE Inc.     21,195        288
 
18

 

Balanced Index Fund
          Shares Market
Value•
($000)
* NanoString Technologies Inc.     35,956        287
* CVRx Inc.     15,660        287
* Dyne Therapeutics Inc.     24,345        282
* CinCor Pharma Inc.     22,838        281
* Sorrento Therapeutics Inc.    314,576        279
* Eagle Pharmaceuticals Inc.      9,445        276
* Inovio Pharmaceuticals Inc.    175,516        274
* Edgewise Therapeutics Inc.     30,691        274
*,1 Sana Biotechnology Inc.     69,018        273
* 2seventy bio Inc.     28,044        263
* Harrow Health Inc.     17,757        262
* GoodRx Holdings Inc. Class A     56,002        261
* PDS Biotechnology Corp.     19,304        255
* Erasca Inc.     59,061        255
* Sutro Biopharma Inc.     30,272        245
* Cullinan Oncology Inc.     22,492        237
* Pennant Group Inc.     21,097        232
* OmniAb Inc.     64,445        232
* Liquidia Corp.     35,629        227
* IGM Biosciences Inc.     13,283        226
* Fulcrum Therapeutics Inc.     31,012        226
* NGM Biopharmaceuticals Inc.     44,858        225
* Adicet Bio Inc.     25,167        225
* HilleVax Inc.     13,435        225
* Atea Pharmaceuticals Inc.     46,519        224
* RxSight Inc.     17,417        221
* Scholar Rock Holding Corp.     24,294        220
*,1 Assertio Holdings Inc.     51,200        220
* Sight Sciences Inc.     17,683        216
* SomaLogic Inc.     85,614        215
* Codexis Inc.     46,017        214
* Clover Health Investments Corp. Class A    230,600        214
* Vera Therapeutics Inc. Class A     11,052        214
* Atara Biotherapeutics Inc.     64,886        213
* Seer Inc. Class A     36,017        209
  Phibro Animal Health Corp. Class A     15,356        206
* Vigil Neuroscience Inc.     16,464        206
* Actinium Pharmaceuticals Inc.     19,281        205
*,1 Butterfly Network Inc.     83,143        205
* Apollo Endosurgery Inc.     20,415        204
* Terns Pharmaceuticals Inc.     20,013        204
* PetIQ Inc. Class A     21,893        202
  SIGA Technologies Inc.     27,490        202
* Heron Therapeutics Inc.     78,614        197
* Innovage Holding Corp.     27,400        197
* SeaSpine Holdings Corp.     23,457        196
* Biomea Fusion Inc.     23,300        196
* Ocugen Inc.    150,100        195
* CareMax Inc.     53,555        195
* Karyopharm Therapeutics Inc.     56,638        193
* OptimizeRx Corp.     11,439        192
* Tarsus Pharmaceuticals Inc.     13,070        192
* Evolus Inc.     25,400        191
* C4 Therapeutics Inc.     31,822        188
* Tactile Systems Technology Inc.     16,140        185
* Nuvation Bio Inc.     96,553        185
* BioAtla Inc.     22,308        184
* Pulmonx Corp.     21,458        181
* Caribou Biosciences Inc.     28,884        181
* Rigel Pharmaceuticals Inc.    119,340        179
* Concert Pharmaceuticals Inc.     30,400        178
* G1 Therapeutics Inc.     32,793        178
* Kodiak Sciences Inc.     24,897        178
*,1 Cabaletta Bio Inc.     18,792        174
* Poseida Therapeutics Inc. Class A     32,859        174
* Avita Medical Inc.     25,856        171
*,1 Aadi Bioscience Inc.     13,200        170
          Shares Market
Value•
($000)
* 908 Devices Inc.     22,158        169
* GlycoMimetics Inc.     54,900        166
* Icosavax Inc.     20,890        166
* Ocular Therapeutix Inc.     58,771        165
*,1 Vor BioPharma Inc.     24,842        165
* Akoya Biosciences Inc.     17,202        165
* Amneal Pharmaceuticals Inc.     81,700        163
*,1 Alpine Immune Sciences Inc.     22,030        162
* Cano Health Inc.    117,504        161
* Phathom Pharmaceuticals Inc.     14,260        160
* Mallinckrodt plc     20,600        160
* Viemed Healthcare Inc.     20,899        158
* Kinnate Biopharma Inc.     25,767        157
* KalVista Pharmaceuticals Inc.     23,051        156
* Design Therapeutics Inc.     15,079        155
* ARS Pharmaceuticals Inc.     17,900        153
* MiMedx Group Inc.     55,000        153
* Zimvie Inc.     16,330        153
* InfuSystem Holdings Inc.     17,567        152
* Gossamer Bio Inc.     69,585        151
* Lineage Cell Therapeutics Inc.    128,266        150
* Marinus Pharmaceuticals Inc.     37,350        149
* Entrada Therapeutics Inc.     11,007        149
* ALX Oncology Holdings Inc.     13,029        147
* Quantum-Si Inc.     80,152        147
* Capricor Therapeutics Inc.     37,500        145
* Arbutus Biopharma Corp.     62,345        145
* ORIC Pharmaceuticals Inc.     24,507        144
* Aura Biosciences Inc.     13,713        144
* Omega Therapeutics Inc.     25,050        143
* Gritstone bio Inc.     39,937        138
* Organogenesis Holdings Inc. Class A     51,218        138
* Stoke Therapeutics Inc.     14,884        137
* Cue Health Inc.     66,007        137
*,1 Prime Medicine Inc.      7,342        136
* Lexicon Pharmaceuticals Inc.     70,832        135
* Neuronetics Inc.     19,481        134
* Joint Corp.      9,539        133
* scPharmaceuticals Inc.     18,200        130
* Bright Health Group Inc.    199,923        130
* Accuray Inc.     61,258        128
* Rallybio Corp.     19,513        128
* Voyager Therapeutics Inc.     20,900        127
* Y-mAbs Therapeutics Inc.     25,975        127
*,1 Zomedica Corp.    759,400        124
*,1 Outlook Therapeutics Inc.    111,564        120
* Summit Therapeutics Inc.     28,141        120
* Puma Biotechnology Inc.     28,100        119
* Allovir Inc.     22,947        118
* Nkarta Inc.     19,414        116
* Savara Inc.     73,243        114
* Precigen Inc.     73,808        112
* Janux Therapeutics Inc.      8,474        112
*,1 Omeros Corp.     49,283        111
*,1 Aerovate Therapeutics Inc.      3,763        110
* Celcuity Inc.      7,727        108
* Optinose Inc.     57,600        107
* Chimerix Inc.     57,135        106
* Xeris Biopharma Holdings Inc.     79,815        106
* ClearPoint Neuro Inc.     12,373        105
* Generation Bio Co.     26,818        105
* Rani Therapeutics Holdings Inc. Class A     17,809        105
* Merrimack Pharmaceuticals Inc.      9,104        104
* Beyond Air Inc.     15,642        102
* Dare Bioscience Inc.    122,500        102
* Selecta Biosciences Inc.     90,109        102
* Berkeley Lights Inc.     37,687        101
 
19

 

Balanced Index Fund
          Shares Market
Value•
($000)
* FONAR Corp.      5,825         98
*,2 PDL BioPharma Inc.     78,003         98
* Immuneering Corp. Class A     20,162         98
* Tabula Rasa HealthCare Inc.     19,595         97
* Tyra Biosciences Inc.     12,400         94
* Monte Rosa Therapeutics Inc.     12,228         93
* Vicarious Surgical Inc. Class A     44,962         91
*,1 KemPharm Inc.     19,400         89
* KORU Medical Systems Inc.     24,374         87
* Invivyd Inc.     58,006         87
*,1 Vaxart Inc.     88,300         85
* Athira Pharma Inc.     26,677         85
* Absci Corp.     40,420         85
*,1 Citius Pharmaceuticals Inc.    106,287         84
*,1 CorMedix Inc.     19,865         84
* XOMA Corp.      4,561         84
* Matinas BioPharma Holdings Inc.    164,758         82
* ChromaDex Corp.     47,403         80
* Ovid therapeutics Inc.     43,087         80
*,1 Alaunos Therapeutics Inc.    122,715         80
* Genprex Inc.     54,200         79
* Semler Scientific Inc.      2,400         79
* Electromed Inc.      7,476         78
* Societal CDMO Inc.     52,074         78
* Sesen Bio Inc.    128,046         78
* Talkspace Inc.    127,138         78
* Larimar Therapeutics Inc.     18,649         77
* Enzo Biochem Inc.     53,422         76
  iRadimed Corp.      2,691         76
* EyePoint Pharmaceuticals Inc.     21,612         76
*,1 CEL - SCI Corp.     31,842         75
* CytomX Therapeutics Inc.     46,219         74
* Annexon Inc.     14,204         73
* Inotiv Inc.     14,694         73
* Cue Biopharma Inc.     25,288         72
* Relmada Therapeutics Inc.     20,489         72
* Harvard Bioscience Inc.     25,649         71
* Stereotaxis Inc.     34,516         71
* Celularity Inc. Class A     54,700         71
*,1 Asensus Surgical Inc. Class A    202,501         70
* Akebia Therapeutics Inc.    119,228         69
* Paratek Pharmaceuticals Inc.     36,785         69
* Taysha Gene Therapies Inc.     29,618         67
* Foghorn Therapeutics Inc.     10,206         65
* Olema Pharmaceuticals Inc.     26,604         65
* Oncology Institute Inc.     39,500         65
* Third Harmonic Bio Inc.     14,820         64
* Standard BioTools Inc.     54,000         63
* Orgenesis Inc.     32,261         63
* Durect Corp.     18,079         63
* Tenaya Therapeutics Inc.     30,884         62
* Sensus Healthcare Inc.      8,033         60
* Bioventus Inc. Class A     23,179         60
* Praxis Precision Medicines Inc.     24,467         58
*,1 P3 Health Partners Inc.     31,700         58
* Co-Diagnostics Inc.     22,573         57
* Shattuck Labs Inc.     24,751         57
* CytoSorbents Corp.     35,641         55
* Tela Bio Inc.      4,801         55
*,1 Annovis Bio Inc.      4,100         55
* Anixa Biosciences Inc.     12,599         54
* Singular Genomics Systems Inc.     26,684         54
* Humacyte Inc.     25,479         54
*,1 Checkpoint Therapeutics Inc.     10,582         54
* Atossa Therapeutics Inc.     98,096         52
* Passage Bio Inc.     38,001         52
* Apyx Medical Corp.     21,359         50
          Shares Market
Value•
($000)
* Verastem Inc.    123,360         50
* Seelos Therapeutics Inc.     73,332         50
* Kronos Bio Inc.     30,839         50
* Ikena Oncology Inc.     18,053         48
* Verrica Pharmaceuticals Inc.     16,816         46
* IMARA Inc.     11,325         46
* Prelude Therapeutics Inc.      7,538         46
* Alpha Teknova Inc.      8,236         46
* Personalis Inc.     22,769         45
* Infinity Pharmaceuticals Inc.     80,200         45
* Forian Inc.     16,600         45
* Spectrum Pharmaceuticals Inc.    118,300         44
*,1,2 Tobira Therapeutics Inc. CVR Exp. 12/31/28      9,469         43
* aTyr Pharma Inc.     19,720         43
* Viracta Therapeutics Inc.     29,734         43
* XBiotech Inc.     11,679         41
* Vapotherm Inc.     14,711         40
* Cidara Therapeutics Inc.     52,829         40
* Century Therapeutics Inc.      7,713         40
* DiaMedica Therapeutics Inc.     24,554         39
*,1 Eton Pharmaceuticals Inc.     13,900         39
* Accelerate Diagnostics Inc.     53,242         38
* Clearside Biomedical Inc.     33,500         38
*,1 BrainStorm Cell Therapeutics Inc.     22,317         37
* Biodesix Inc.     15,913         37
* Graphite Bio Inc.     11,215         37
* Curis Inc.     66,098         36
* Trevi Therapeutics Inc.     18,542         36
* Evelo Biosciences Inc.     22,014         35
*,1 SELLAS Life Sciences Group Inc.     14,905         35
* Cardiff Oncology Inc.     24,797         35
* Sema4 Holdings Corp.    132,235         35
*,1 DermTech Inc.     19,000         34
* iCAD Inc.     18,133         33
*,1 Spero Therapeutics Inc.     19,238         33
* Satsuma Pharmaceuticals Inc.     35,300         32
* SmileDirectClub Inc. Class A     90,900         32
* Synlogic Inc.     42,408         32
* Oncternal Therapeutics Inc.     32,400         32
* Inmune Bio Inc.      5,000         32
* Decibel Therapeutics Inc.     15,840         32
* Galectin Therapeutics Inc.     26,902         30
* MyMD Pharmaceuticals Inc.     25,990         30
* Sensei Biotherapeutics Inc.     19,290         29
*,1 TherapeuticsMD Inc.      5,268         29
* Jounce Therapeutics Inc.     24,864         28
* Science 37 Holdings Inc.     68,300         28
* PAVmed Inc.     56,600         27
* PepGen Inc.      2,011         27
* Retractable Technologies Inc.     15,700         26
* Instil Bio Inc.     41,166         26
* ATI Physical Therapy Inc.     85,900         26
* Immunome Inc.     11,471         25
* Talaris Therapeutics Inc.     24,089         25
* UNITY Biotechnology Inc.      9,250         25
* Eiger BioPharmaceuticals Inc.     19,995         24
* SCYNEXIS Inc.     15,090         24
*,1 Clene Inc.     23,900         24
*,1 Reviva Pharmaceuticals Holdings Inc.      5,640         24
* Palatin Technologies Inc.      9,547         24
*,1 MEI Pharma Inc.     93,726         23
* NightHawk Biosciences Inc.     28,727         23
* Lantern Pharma Inc.      3,734         23
*,1 Impel Pharmaceuticals Inc.      6,194         23
* Dyadic International Inc.     17,910         22
* Enochian Biosciences Inc.     21,000         22
* Geron Corp. Warrants Exp. 12/31/25     39,917         22
 
20

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Aveanna Healthcare Holdings Inc.     28,788         22
* Avalo Therapeutics Inc.      4,279         22
* Cumberland Pharmaceuticals Inc.      9,187         21
* Exagen Inc.      8,667         21
*,1 Pulse Biosciences Inc.      7,474         21
* Tracon Pharmaceuticals Inc.     13,800         21
* Aligos Therapeutics Inc.     21,969         21
* Aziyo Biologics Inc. Class A      5,000         21
* LENSAR Inc.      7,146         21
* Harpoon Therapeutics Inc.     27,100         20
* Oncocyte Corp.     63,657         20
* Surface Oncology Inc.     24,474         20
* Zynerba Pharmaceuticals Inc.     37,481         20
* Angion Biomedica Corp.     25,035         20
* Elevation Oncology Inc.     21,141         20
*,1 NRX Pharmaceuticals Inc.     18,200         20
*,1 Immunic Inc.     13,600         19
* Adamis Pharmaceuticals Corp.    109,800         19
* Syros Pharmaceuticals Inc.      5,192         19
* Corvus Pharmaceuticals Inc.     20,935         18
* IRIDEX Corp.      8,974         18
* Hepion Pharmaceuticals Inc.     59,700         18
* Rezolute Inc.      8,500         18
* Aspira Women's Health Inc.     49,767         17
* Inozyme Pharma Inc.     15,730         17
* Conformis Inc.      5,166         17
*,1 Lannett Co. Inc.     30,199         16
* VistaGen Therapeutics Inc.    151,563         16
* SQZ Biotechnologies Co.     21,128         16
* Aeglea BioTherapeutics Inc.     33,281         15
* Cyclerion Therapeutics Inc.     23,450         15
* Hookipa Pharma Inc.     18,030         15
* GT Biopharma Inc.     16,775         15
* IsoRay Inc.     55,618         14
* Marker Therapeutics Inc.     54,947         14
* Delcath Systems Inc.      3,900         14
* Bright Green Corp.     30,400         14
* Athenex Inc.     87,328         13
  Catalyst Biosciences Inc.     23,975         13
* Lipocine Inc.     34,514         13
  Psychemedics Corp.      2,717         13
* X4 Pharmaceuticals Inc.     13,208         13
* ElectroCore Inc.     47,524         12
*,1 Invacare Corp.     29,423         12
* Rapid Micro Biosystems Inc. Class A     10,406         12
* Imunon Inc.      9,191         12
* AN2 Therapeutics Inc.      1,222         12
* 9 Meters Biopharma Inc.      8,477         11
* Aptinyx Inc. Class A     35,501         10
* BioSig Technologies Inc.     23,402         10
* Magenta Therapeutics Inc.     24,259         10
* Molecular Templates Inc.     31,960         10
*,1 Sientra Inc.     50,000         10
* Finch Therapeutics Group Inc.     21,220         10
*,1 AcelRx Pharmaceuticals Inc.      4,637         10
* Equillium Inc.      7,975          9
* Five Star Senior Living Inc.     15,685          9
* Venus Concept Inc.     27,622          9
* Eliem Therapeutics Inc.      2,237          8
*,2 Strongbridge Biopharma plc CVR     45,300          8
* Strata Skin Sciences Inc.      8,329          7
* Applied Molecular Transport Inc.     16,784          7
* Biora Therapeutics Inc.     49,399          7
* Codiak Biosciences Inc.     18,019          7
* Trevena Inc.      4,952          7
* Alimera Sciences Inc.      2,158          6
* Axcella Health Inc.     18,254          6
          Shares Market
Value•
($000)
*,2 OncoMed Pharmaceuticals Inc. CVR     23,234          6
* TFF Pharmaceuticals Inc.      5,786          6
* Forte Biosciences Inc.      6,200          6
* Inhibikase Therapeutics Inc.     11,895          6
* Thorne HealthTech Inc.      1,688          6
* Cellectar Biosciences Inc.      3,510          6
* NeuBase Therapeutics Inc.     25,095          5
* Athersys Inc.      6,081          5
*,1 NantHealth Inc.      1,346          5
* Opiant Pharmaceuticals Inc.        206          4
* NexImmune Inc.     17,304          4
* Cyclo Therapeutics Inc.      2,677          4
* Theseus Pharmaceuticals Inc.        848          4
*,2 Adamas Pharmaceuticals Inc. CVR     59,600          4
*,1,2 Oncternal Therapeutics Inc. CVR      2,749          3
* Soligenix Inc.      5,887          3
*,1 Tricida Inc.     17,400          3
* Neoleukin Therapeutics Inc.      5,484          3
*,1 iBio Inc.      6,988          3
* Vivos Therapeutics Inc.      5,061          2
* Virpax Pharmaceuticals Inc.      3,878          2
*,2 Ocera Therapeutics Inc. CVR      3,700          1
* Rubius Therapeutics Inc.      6,247          1
*,2 Aduro Biotech Inc. CVR      6,844          1
*,2 Miragen Therapeutics Inc. CVR     36,076          1
* Lucira Health Inc.     12,929          1
*,1 Jasper Therapeutics Inc.      2,834          1
* Vaxxinity Inc. Class A      1,015          1
* Eloxx Pharmaceuticals Inc.        440          1
*,2 Ambit Biosciences Corp. CVR      1,900         —
* Leap Therapeutics Inc.        400         —
*,2 Biosante Pharmaceuticals Inc. CVR     14,250         —
*,2 Lantheus Holdings Inc. CVR     82,198         —
*,1 Oncorus Inc.        885         —
*,2 F-star Therapeutics Inc. CVR      2,729         —
* Longboard Pharmaceuticals Inc.        114         —
* Jaguar Health Inc.        300         —
* Biolase Inc.        100         —
* Athenex Inc. Warrants Exp. 8/15/27     13,166         —
*,2 OmniAb Inc. (Earnout Shares)      9,974         —
                                               4,261,629
Industrials (8.1%)
  Visa Inc. Class A  1,232,860    256,139
  Mastercard Inc. Class A    649,919    225,996
  Accenture plc Class A    477,173    127,329
  Raytheon Technologies Corp.  1,113,239    112,348
  Honeywell International Inc.    509,477    109,181
  Lockheed Martin Corp.    198,500     96,568
  Union Pacific Corp.    465,232     96,336
  United Parcel Service Inc. Class B    552,162     95,988
  Caterpillar Inc.    394,310     94,461
  Deere & Co.    205,769     88,226
* Boeing Co.    451,611     86,027
  Automatic Data Processing Inc.    314,467     75,114
  General Electric Co.    828,929     69,456
  American Express Co.    423,721     62,605
* PayPal Holdings Inc.    863,897     61,527
  Northrop Grumman Corp.    104,900     57,234
  3M Co.    418,197     50,150
  CSX Corp.  1,588,656     49,217
  Eaton Corp. plc    300,987     47,240
  General Dynamics Corp.    187,530     46,528
  Illinois Tool Works Inc.    209,347     46,119
* Fiserv Inc.    432,646     43,728
  Norfolk Southern Corp.    175,225     43,179
  Emerson Electric Co.    448,974     43,128
  Sherwin-Williams Co.    176,426     41,871
 
21

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Johnson Controls International plc    521,259     33,361
  FedEx Corp.    177,790     30,793
  Fidelity National Information Services Inc.    448,217     30,412
  L3Harris Technologies Inc.    143,753     29,931
  Cintas Corp.     65,353     29,515
  Trane Technologies plc    174,314     29,300
  Parker-Hannifin Corp.     97,510     28,375
  Paychex Inc.    244,960     28,308
  Capital One Financial Corp.    289,700     26,931
  Carrier Global Corp.    630,377     26,003
  Cummins Inc.    106,571     25,821
* Block Inc. Class A    407,515     25,608
  TransDigm Group Inc.     39,245     24,711
  Otis Worldwide Corp.    314,459     24,625
* Mettler-Toledo International Inc.     16,788     24,266
  AMETEK Inc.    173,248     24,206
  PACCAR Inc.    236,676     23,424
* Keysight Technologies Inc.    135,540     23,187
  DuPont de Nemours Inc.    337,620     23,171
  Rockwell Automation Inc.     87,081     22,429
  PPG Industries Inc.    177,552     22,325
  Old Dominion Freight Line Inc.     75,197     21,339
  Verisk Analytics Inc. Class A    118,547     20,914
  Global Payments Inc.    205,013     20,362
  Ferguson plc    158,600     20,137
  WW Grainger Inc.     34,530     19,207
* United Rentals Inc.     52,600     18,695
  Equifax Inc.     92,288     17,937
  Fortive Corp.    267,882     17,211
  Vulcan Materials Co.     95,510     16,725
  Ingersoll Rand Inc.    306,214     16,000
  Martin Marietta Materials Inc.     46,945     15,866
  Quanta Services Inc.    108,567     15,471
* Waters Corp.     44,778     15,340
  Xylem Inc.    135,988     15,036
  Dover Corp.    106,325     14,397
* Teledyne Technologies Inc.     35,482     14,190
  Westinghouse Air Brake Technologies Corp.    130,682     13,043
  IDEX Corp.     56,690     12,944
  Expeditors International of Washington Inc.    119,743     12,444
  Ball Corp.    236,693     12,104
  Jacobs Solutions Inc.     94,952     11,401
* Fair Isaac Corp.     19,030     11,391
  Textron Inc.    158,582     11,228
  Howmet Aerospace Inc.    282,160     11,120
  Synchrony Financial    335,876     11,037
  JB Hunt Transport Services Inc.     63,190     11,018
  Booz Allen Hamilton Holding Corp. Class A     99,605     10,411
* Zebra Technologies Corp. Class A     38,939      9,984
  Jack Henry & Associates Inc.     55,510      9,745
* FleetCor Technologies Inc.     52,841      9,706
  RPM International Inc.     98,854      9,633
* Trimble Inc.    188,615      9,536
  Hubbell Inc. Class B     40,512      9,507
  Nordson Corp.     39,112      9,298
  Carlisle Cos. Inc.     38,858      9,157
  Snap-on Inc.     39,865      9,109
  Packaging Corp. of America     70,616      9,032
  Toro Co.     78,800      8,920
  AECOM    105,010      8,918
  Stanley Black & Decker Inc.    116,075      8,720
  Graco Inc.    127,829      8,598
* Axon Enterprise Inc.     51,356      8,521
  TransUnion    146,811      8,332
* Bill.com Holdings Inc.     75,455      8,222
  HEICO Corp. Class A     68,173      8,171
  CH Robinson Worldwide Inc.     88,383      8,092
          Shares Market
Value•
($000)
  Masco Corp.    172,800      8,065
  Crown Holdings Inc.     92,059      7,568
* Builders FirstSource Inc.    109,399      7,098
* WillScot Mobile Mini Holdings Corp.    156,458      7,067
  Huntington Ingalls Industries Inc.     30,281      6,985
  Allegion plc     66,077      6,955
  Westrock Co.    193,190      6,793
  AGCO Corp.     48,240      6,690
  Genpact Ltd.    140,780      6,521
  Lincoln Electric Holdings Inc.     43,973      6,354
  Watsco Inc.     25,211      6,288
* Paylocity Holding Corp.     31,418      6,103
  Knight-Swift Transportation Holdings Inc. Class A    114,152      5,983
  Regal Rexnord Corp.     49,820      5,977
  Tetra Tech Inc.     40,725      5,913
  Owens Corning     69,106      5,895
  Robert Half International Inc.     78,993      5,832
  Cognex Corp.    122,620      5,777
  Berry Global Group Inc.     95,281      5,758
  Lennox International Inc.     24,037      5,750
  Pentair plc    126,629      5,696
  Sealed Air Corp.    111,728      5,573
  Fortune Brands Innovations Inc.     96,927      5,535
  A O Smith Corp.     96,481      5,523
  AptarGroup Inc.     50,161      5,517
* Middleby Corp.     41,175      5,513
* WEX Inc.     33,537      5,488
  Donaldson Co. Inc.     92,416      5,441
  Valmont Industries Inc.     16,169      5,347
  EMCOR Group Inc.     35,493      5,257
  Graphic Packaging Holding Co.    230,674      5,132
  ITT Inc.     62,784      5,092
* Generac Holdings Inc.     48,869      4,919
  nVent Electric plc    127,560      4,907
  Curtiss-Wright Corp.     29,107      4,861
* WESCO International Inc.     37,933      4,749
  Sensata Technologies Holding plc    117,073      4,727
  MDU Resources Group Inc.    153,876      4,669
  Advanced Drainage Systems Inc.     56,285      4,614
  Sonoco Products Co.     73,193      4,444
  Landstar System Inc.     27,214      4,433
  Oshkosh Corp.     48,489      4,276
  Woodward Inc.     44,154      4,266
  MKS Instruments Inc.     50,238      4,257
* Axalta Coating Systems Ltd.    166,850      4,250
* Saia Inc.     19,767      4,145
* Mohawk Industries Inc.     40,440      4,134
  Littelfuse Inc.     18,748      4,128
* MasTec Inc.     48,314      4,123
* ExlService Holdings Inc.     24,224      4,104
  MSA Safety Inc.     28,275      4,077
  Western Union Co.    293,745      4,045
  Acuity Brands Inc.     24,009      3,976
  BWX Technologies Inc.     68,186      3,960
  Brunswick Corp.     53,645      3,867
* GXO Logistics Inc.     90,171      3,849
* FTI Consulting Inc.     24,191      3,842
  Exponent Inc.     38,573      3,822
* Fluor Corp.    109,342      3,790
  Applied Industrial Technologies Inc.     29,988      3,779
* TopBuild Corp.     24,065      3,766
* Chart Industries Inc.     32,215      3,712
  Crane Holdings Co.     36,914      3,708
  Eagle Materials Inc.     27,321      3,630
* Trex Co. Inc.     82,384      3,487
* Atkore Inc.     30,592      3,470
  Maximus Inc.     47,278      3,467
 
22

 

Balanced Index Fund
          Shares Market
Value•
($000)
* AMN Healthcare Services Inc.     32,518      3,343
* Euronet Worldwide Inc.     35,181      3,320
  ManpowerGroup Inc.     39,015      3,246
* Aerojet Rocketdyne Holdings Inc.     57,927      3,240
  Comfort Systems USA Inc.     27,730      3,191
  Silgan Holdings Inc.     60,939      3,159
  Insperity Inc.     27,032      3,071
  HEICO Corp.     19,959      3,066
  Ryder System Inc.     36,679      3,065
  Watts Water Technologies Inc. Class A     20,803      3,042
  Flowserve Corp.     98,752      3,030
  Altra Industrial Motion Corp.     50,393      3,011
  Air Lease Corp. Class A     77,532      2,979
  Simpson Manufacturing Co. Inc.     33,491      2,969
* ASGN Inc.     36,181      2,948
* Kirby Corp.     45,714      2,942
  GATX Corp.     27,545      2,929
  HB Fuller Co.     40,865      2,927
* ATI Inc.     97,587      2,914
  Allison Transmission Holdings Inc.     69,026      2,871
  Maxar Technologies Inc.     55,378      2,865
  Triton International Ltd.     41,456      2,851
* XPO Inc.     84,271      2,805
  Louisiana-Pacific Corp.     46,175      2,734
  MSC Industrial Direct Co. Inc. Class A     33,407      2,729
* API Group Corp.    138,328      2,602
  Herc Holdings Inc.     19,204      2,527
* Summit Materials Inc. Class A     87,580      2,486
  Franklin Electric Co. Inc.     30,245      2,412
  Armstrong World Industries Inc.     35,050      2,404
  Badger Meter Inc.     22,030      2,402
* Bloom Energy Corp. Class A    125,429      2,398
  Spirit AeroSystems Holdings Inc. Class A     80,993      2,397
  ADT Inc.    263,967      2,394
  AAON Inc.     31,720      2,389
  Vontier Corp.    123,124      2,380
  Belden Inc.     33,082      2,379
  EnerSys     32,008      2,363
* Marqeta Inc. Class A    383,293      2,342
  John Bean Technologies Corp.     25,319      2,312
  Albany International Corp. Class A     22,997      2,267
  Zurn Elkay Water Solutions Corp.    106,683      2,256
  ABM Industries Inc.     50,434      2,240
* Atlas Air Worldwide Holdings Inc.     21,708      2,188
  UniFirst Corp.     11,318      2,184
  Federal Signal Corp.     46,796      2,175
* Shift4 Payments Inc. Class A     38,337      2,144
  Korn Ferry     41,988      2,125
* SPX Technologies Inc.     31,707      2,082
  Forward Air Corp.     19,714      2,068
  Esab Corp.     43,482      2,040
  Terex Corp.     47,342      2,022
  Hillenbrand Inc.     47,349      2,020
* ACI Worldwide Inc.     87,710      2,017
* Beacon Roofing Supply Inc.     37,447      1,977
* TriNet Group Inc.     28,903      1,960
* Dycom Industries Inc.     20,604      1,929
  Otter Tail Corp.     32,769      1,924
* Mercury Systems Inc.     42,871      1,918
* O-I Glass Inc.    115,702      1,917
* Resideo Technologies Inc.    116,412      1,915
  Moog Inc. Class A     21,150      1,856
  Encore Wire Corp.     13,465      1,852
* Itron Inc.     36,164      1,832
  Matson Inc.     29,259      1,829
* Hub Group Inc. Class A     22,917      1,822
* CBIZ Inc.     38,020      1,781
          Shares Market
Value•
($000)
* Alight Inc. Class A    211,844      1,771
  Trinity Industries Inc.     59,608      1,763
  McGrath RentCorp     17,779      1,755
* Flywire Corp.     71,741      1,755
  Brink's Co.     32,345      1,737
  Werner Enterprises Inc.     42,383      1,706
  Kadant Inc.      9,398      1,669
  ESCO Technologies Inc.     19,033      1,666
  EnPro Industries Inc.     15,205      1,653
  EVERTEC Inc.     50,987      1,651
* AZEK Co. Inc. Class A     78,771      1,601
  Barnes Group Inc.     38,984      1,592
* Verra Mobility Corp. Class A    115,015      1,591
  Installed Building Products Inc.     18,405      1,575
* AeroVironment Inc.     18,273      1,565
* GMS Inc.     30,824      1,535
* Affirm Holdings Inc. Class A    156,313      1,512
  ICF International Inc.     15,190      1,505
  Brady Corp. Class A     31,259      1,472
* RXO Inc.     84,271      1,449
  Lindsay Corp.      8,794      1,432
  Kennametal Inc.     59,281      1,426
  CSW Industrials Inc.     12,202      1,415
* Air Transport Services Group Inc.     54,416      1,414
* Masonite International Corp.     17,208      1,387
  Bread Financial Holdings Inc.     36,685      1,382
* NV5 Global Inc.     10,289      1,361
  Mueller Water Products Inc. Class A    124,409      1,339
  Helios Technologies Inc.     24,221      1,319
  Griffon Corp.     36,687      1,313
  Greif Inc. Class A     19,326      1,296
  ArcBest Corp.     18,411      1,290
* MYR Group Inc.     13,343      1,228
  International Seaways Inc.     31,765      1,176
* Gibraltar Industries Inc.     25,334      1,162
* Evo Payments Inc. Class A     33,985      1,150
  Granite Construction Inc.     32,797      1,150
* AAR Corp.     25,566      1,148
  H&E Equipment Services Inc.     25,264      1,147
  Veritiv Corp.      9,400      1,144
  FTAI Aviation Ltd.     66,800      1,144
* Enovix Corp.     89,100      1,108
  Alamo Group Inc.      7,779      1,102
* Payoneer Global Inc.    198,701      1,087
* Huron Consulting Group Inc.     14,776      1,073
  Patrick Industries Inc.     17,336      1,051
  Enerpac Tool Group Corp. Class A     40,640      1,034
* Core & Main Inc. Class A     52,801      1,020
* AvidXchange Holdings Inc.    100,184        996
* Kratos Defense & Security Solutions Inc.     96,224        993
* CoreCivic Inc.     85,238        985
* OSI Systems Inc.     11,871        944
  Tennant Co.     15,277        941
  Standex International Corp.      9,089        931
* Vicor Corp.     16,932        910
  Primoris Services Corp.     41,117        902
* Montrose Environmental Group Inc.     19,220        853
* Energy Recovery Inc.     41,500        850
* Rocket Lab USA Inc.    223,377        842
  Marten Transport Ltd.     42,381        838
  TriMas Corp.     29,733        825
  Apogee Enterprises Inc.     18,339        815
* Gates Industrial Corp. plc     70,155        800
* Modine Manufacturing Co.     39,900        792
* Remitly Global Inc.     68,697        787
  AZZ Inc.     19,359        778
  Greenbrier Cos. Inc.     23,192        778
 
23

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Kforce Inc.     14,009        768
  Wabash National Corp.     33,665        761
* Sterling Infrastructure Inc.     22,643        743
* Masterbrand Inc.     97,527        736
* Construction Partners Inc. Class A     27,142        724
* PGT Innovations Inc.     40,308        724
  Schneider National Inc. Class B     30,952        724
* Donnelley Financial Solutions Inc.     18,700        723
* Hillman Solutions Corp.     96,313        694
  Astec Industries Inc.     16,978        690
* American Woodmark Corp.     14,041        686
  TTEC Holdings Inc.     15,547        686
  Mesa Laboratories Inc.      4,118        684
  Columbus McKinnon Corp.     21,022        683
* Titan Machinery Inc.     17,060        678
* Cross Country Healthcare Inc.     24,721        657
  Myers Industries Inc.     29,048        646
  Heartland Express Inc.     41,821        642
* Hayward Holdings Inc.     66,993        630
  CRA International Inc.      5,130        628
* Napco Security Technologies Inc.     22,194        610
* Aspen Aerogels Inc.     51,284        605
* Mirion Technologies Inc.     91,000        602
* Leonardo DRS Inc.     46,300        592
* Proterra Inc.    156,279        589
* CryoPort Inc.     33,788        586
* JELD-WEN Holding Inc.     60,479        584
* International Money Express Inc.     23,900        582
* Titan International Inc.     37,200        570
  Barrett Business Services Inc.      6,077        567
*,1 Joby Aviation Inc.    167,425        561
* Proto Labs Inc.     21,863        558
* SP Plus Corp.     15,915        553
* Green Dot Corp. Class A     34,799        551
  Deluxe Corp.     32,129        546
* I3 Verticals Inc. Class A     22,154        539
  Quanex Building Products Corp.     22,734        538
*,1 Legalzoom.com Inc.     68,670        532
  Douglas Dynamics Inc.     14,540        526
* Triumph Group Inc.     49,800        524
* BlueLinx Holdings Inc.      7,292        519
  Kaman Corp.     23,276        519
  Resources Connection Inc.     27,891        513
  Shyft Group Inc.     20,638        513
* PureCycle Technologies Inc.     75,329        509
  Ennis Inc.     22,944        508
  Chase Corp.      5,851        505
* Virgin Galactic Holdings Inc.    144,422        503
* Conduent Inc.    122,700        497
* TrueBlue Inc.     25,332        496
* ZipRecruiter Inc. Class A     30,176        495
*,1 Nikola Corp.    227,435        491
  Pitney Bowes Inc.    128,500        488
  Gorman-Rupp Co.     18,581        476
* Repay Holdings Corp. Class A     57,838        466
* First Advantage Corp.     35,553        462
* Thermon Group Holdings Inc.     22,609        454
  Insteel Industries Inc.     16,294        448
* Paya Holdings Inc.     56,700        446
* Ducommun Inc.      8,885        444
  Heidrick & Struggles International Inc.     15,472        433
  Allied Motion Technologies Inc.     11,944        416
  Cass Information Systems Inc.      9,079        416
* FARO Technologies Inc.     14,129        416
  Kelly Services Inc. Class A     24,290        410
* V2X Inc.      9,894        409
* Janus International Group Inc.     42,818        408
          Shares Market
Value•
($000)
* CIRCOR International Inc.     16,867        404
* Franklin Covey Co.      8,348        390
* Vivint Smart Home Inc.     32,800        390
  Eagle Bulk Shipping Inc.      7,784        389
* Vishay Precision Group Inc.      9,889        382
* Custom Truck One Source Inc.     57,575        364
* TaskUS Inc. Class A     21,330        360
  Argan Inc.      9,742        359
  National Presto Industries Inc.      5,050        346
* Transcat Inc.      4,840        343
* Target Hospitality Corp.     22,600        342
* Aurora Innovation Inc.    281,900        341
* Cimpress plc     12,144        335
* Forrester Research Inc.      9,338        334
  VSE Corp.      7,076        332
  REV Group Inc.     25,884        327
  FTAI Infrastructure Inc.    110,200        325
* CECO Environmental Corp.     26,869        314
* Babcock & Wilcox Enterprises Inc.     52,446        303
  Miller Industries Inc.     11,281        301
  Perella Weinberg Partners Class A     30,221        296
  Pactiv Evergreen Inc.     25,797        293
* Manitowoc Co. Inc.     31,178        286
  Covenant Logistics Group Inc. Class A      7,930        274
* Great Lakes Dredge & Dock Corp.     43,592        259
  BGSF Inc.     16,900        259
  Cadre Holdings Inc.     12,800        258
  Park Aerospace Corp.     19,093        256
  Powell Industries Inc.      7,254        255
* DXP Enterprises Inc.      9,164        252
* Hudson Technologies Inc.     24,429        247
* DHI Group Inc.     43,804        232
* Tutor Perini Corp.     30,540        231
*,1 ShiftPixy Inc.     10,900        228
* AerSale Corp.     13,900        225
* Velo3D Inc.    122,900        220
*,1 Desktop Metal Inc. Class A    159,504        217
* BrightView Holdings Inc.     30,953        213
* IES Holdings Inc.      5,998        213
* Microvast Holdings Inc.    139,400        213
* Willdan Group Inc.     11,769        210
* HireRight Holdings Corp.     17,594        209
* ShotSpotter Inc.      6,113        207
* Archer Aviation Inc. Class A    110,655        207
* Cantaloupe Inc.     47,000        204
  LSI Industries Inc.     16,379        200
* Ranpak Holdings Corp. Class A     34,100        197
* Performant Financial Corp.     54,600        197
* Hyliion Holdings Corp.     83,600        196
* Luna Innovations Inc.     22,193        195
  Universal Logistics Holdings Inc.      5,573        186
* Commercial Vehicle Group Inc.     26,700        182
  Hyster-Yale Materials Handling Inc.      7,125        180
  United States Lime & Minerals Inc.      1,281        180
* Evolv Technologies Holdings Inc.     69,600        180
* Blade Air Mobility Inc.     48,000        172
* Sterling Check Corp.     11,094        172
* Radiant Logistics Inc.     33,408        170
* PAM Transportation Services Inc.      6,504        168
*,1 Workhorse Group Inc.    108,333        165
* Acacia Research Corp.     38,613        163
* TuSimple Holdings Inc. Class A     97,786        160
*,1 View Inc.    161,774        156
* Astronics Corp.     14,905        154
*,1 BlackSky Technology Inc. Class A     95,200        147
* Daseke Inc.     25,698        146
* Advantage Solutions Inc.     68,200        142
 
24

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Quad/Graphics Inc.     34,200        140
  Kronos Worldwide Inc.     14,677        138
* CS Disco Inc.     21,829        138
  Information Services Group Inc.     29,685        137
* Bowman Consulting Group Ltd. Class A      6,100        133
  Hurco Cos. Inc.      5,051        132
*,1 Virgin Orbit Holdings Inc.     71,300        132
*,1 SKYX Platforms Corp.     49,548        125
* Atlas Technical Consultants Inc. Class A     23,600        122
* Blue Bird Corp.     11,011        118
* Atlanticus Holdings Corp.      4,500        118
*,1 Danimer Scientific Inc. Class A     65,200        117
* Concrete Pumping Holdings Inc.     19,696        115
* Spire Global Inc.    118,300        114
* Distribution Solutions Group Inc.      2,806        103
* Markforged Holding Corp.     87,900        102
  ARC Document Solutions Inc.     34,251        100
* RCM Technologies Inc.      8,104        100
* Yellow Corp.     39,500         99
*,1 Hyzon Motors Inc.     64,100         99
* Core Molding Technologies Inc.      7,270         94
* Iteris Inc.     30,071         94
  PFSweb Inc.     15,253         94
* EVI Industries Inc.      3,846         92
* Orion Group Holdings Inc.     38,600         92
* Mistras Group Inc.     18,400         91
* Moneylion Inc.    145,457         90
  Park-Ohio Holdings Corp.      7,030         86
* Byrna Technologies Inc.     10,800         85
* Overseas Shipholding Group Inc. Class A     27,500         79
* INNOVATE Corp.     41,047         77
* Willis Lease Finance Corp.      1,168         69
* MICT Inc.     80,454         67
* Paymentus Holdings Inc. Class A      7,993         64
* L B Foster Co. Class A      6,452         62
* Graham Corp.      6,141         59
* Energous Corp.     69,135         58
* Velodyne Lidar Inc.     77,900         58
* Skillsoft Corp.     42,306         55
* Gencor Industries Inc.      5,230         53
*,1 Latch Inc.     74,183         53
* Twin Disc Inc.      4,630         45
* Katapult Holdings Inc.     46,100         44
*,1 Eos Energy Enterprises Inc.     28,200         42
* AEye Inc.     86,700         42
* US Xpress Enterprises Inc. Class A     22,566         41
* CPI Card Group Inc.      1,080         39
* IZEA Worldwide Inc.     69,691         38
* Astra Space Inc.     88,127         38
* LightPath Technologies Inc. Class A     30,132         37
*,1 Wrap Technologies Inc.     21,600         37
* Hydrofarm Holdings Group Inc.     24,181         37
* Sarcos Technology & Robotics Corp.     65,600         37
* Rekor Systems Inc.     23,522         28
* Orion Energy Systems Inc.     13,570         25
* Ultralife Corp.      6,533         25
* Mayville Engineering Co. Inc.      1,894         24
* Broadwind Inc.     12,171         22
* RF Industries Ltd.      3,910         20
* Biotricity Inc.     42,800         19
* Momentus Inc. Class A     21,500         17
* Frequency Electronics Inc.      2,246         16
* Coda Octopus Group Inc.      2,088         14
* Odyssey Marine Exploration Inc. Class B      3,525         14
* Air T Inc.        532         13
*,1 Lightning eMotors Inc.     35,019         13
  Karat Packaging Inc.        844         12
          Shares Market
Value•
($000)
* Usio Inc.      5,651          9
* Horizon Global Corp.     22,200          9
* Lightbridge Corp.      2,095          8
* ENGlobal Corp.      8,787          7
* Air Industries Group      1,613          7
* Innovative Solutions & Support Inc.        784          6
* Ryvyl Inc.     13,200          6
* DSS Inc.     38,500          6
* FG Group Holdings Inc.      2,465          6
* Wireless Telecom Group Inc.      2,760          5
*,1 Nuvve Holding Corp.      7,852          5
* Manitex International Inc.        483          2
* Alpha Pro Tech Ltd.        135          1
*,2 Patriot National Inc.      7,513         —
* Shapeways Holdings Inc.        162         —
                                               3,907,865
Other (0.0%)3
4 Vanguard Total Bond Market ETF     39,367      2,827
Real Estate (2.0%)
  Prologis Inc.    699,738     78,881
  American Tower Corp.    352,298     74,638
  Equinix Inc.     70,170     45,963
  Crown Castle Inc.    327,423     44,412
  Public Storage    112,918     31,639
  Realty Income Corp.    473,521     30,035
  Simon Property Group Inc.    247,312     29,054
  VICI Properties Inc.    751,142     24,337
* CoStar Group Inc.    308,020     23,804
  Welltower Inc.    359,491     23,565
  SBA Communications Corp. Class A     81,575     22,866
  Digital Realty Trust Inc.    216,991     21,758
  Alexandria Real Estate Equities Inc.    124,162     18,087
* CBRE Group Inc. Class A    226,622     17,441
  Weyerhaeuser Co.    558,564     17,316
  AvalonBay Communities Inc.    105,473     17,036
  Equity Residential    274,532     16,197
  Extra Space Storage Inc.    102,123     15,030
  Mid-America Apartment Communities Inc.     88,259     13,856
  Invitation Homes Inc.    462,066     13,696
  Ventas Inc.    302,209     13,615
  Sun Communities Inc.     94,649     13,535
  WP Carey Inc.    157,400     12,301
  Iron Mountain Inc.    219,636     10,949
  Essex Property Trust Inc.     49,356     10,460
  Healthpeak Properties Inc.    406,575     10,193
  Kimco Realty Corp.    464,274      9,833
  UDR Inc.    248,303      9,617
  Gaming & Leisure Properties Inc.    184,087      9,589
  Camden Property Trust     81,243      9,089
  Host Hotels & Resorts Inc.    538,710      8,646
  Equity LifeStyle Properties Inc.    127,437      8,232
  Regency Centers Corp.    129,764      8,110
  Rexford Industrial Realty Inc.    139,599      7,628
  Boston Properties Inc.    106,396      7,190
  CubeSmart    170,287      6,854
  American Homes 4 Rent Class A    215,382      6,492
  Lamar Advertising Co. Class A     67,097      6,334
  Life Storage Inc.     63,522      6,257
  Federal Realty Investment Trust     60,546      6,118
  National Retail Properties Inc.    133,498      6,109
  STORE Capital Corp.    189,100      6,063
  Americold Realty Trust Inc.    207,023      5,861
* Jones Lang LaSalle Inc.     36,189      5,767
  Healthcare Realty Trust Inc. Class A    288,049      5,551
  Brixmor Property Group Inc.    223,000      5,055
  Medical Properties Trust Inc.    444,671      4,954
 
25

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Omega Healthcare Investors Inc.    177,013      4,948
  First Industrial Realty Trust Inc.    101,106      4,879
  EastGroup Properties Inc.     32,867      4,866
  Agree Realty Corp.     66,410      4,710
  STAG Industrial Inc.    136,062      4,396
  Spirit Realty Capital Inc.    107,321      4,285
  Apartment Income REIT Corp. Class A    114,943      3,944
  Rayonier Inc.    110,701      3,649
  Kite Realty Group Trust    162,123      3,413
  Kilroy Realty Corp.     87,133      3,369
  Ryman Hospitality Properties Inc.     40,525      3,314
* Zillow Group Inc. Class C    101,517      3,270
  Terreno Realty Corp.     54,377      3,092
  Cousins Properties Inc.    117,472      2,971
  Phillips Edison & Co. Inc.     91,521      2,914
  Independence Realty Trust Inc.    171,465      2,891
  PotlatchDeltic Corp.     63,567      2,796
  Vornado Realty Trust    133,200      2,772
  Essential Properties Realty Trust Inc.    108,980      2,558
  Physicians Realty Trust    172,300      2,493
  Apple Hospitality REIT Inc.    156,283      2,466
  National Storage Affiliates Trust     66,703      2,409
  Sabra Health Care REIT Inc.    181,137      2,252
  Corporate Office Properties Trust     85,048      2,206
  Highwoods Properties Inc.     78,710      2,202
  LXP Industrial Trust    219,252      2,197
  EPR Properties     58,033      2,189
  Broadstone Net Lease Inc.    133,857      2,170
  Innovative Industrial Properties Inc.     20,845      2,113
  Equity Commonwealth     82,691      2,065
* Howard Hughes Corp.     26,876      2,054
  Hannon Armstrong Sustainable Infrastructure Capital Inc.     67,747      1,963
  Macerich Co.    169,662      1,910
  Douglas Emmett Inc.    120,907      1,896
  Outfront Media Inc.    113,461      1,881
  SITE Centers Corp.    135,915      1,857
  Park Hotels & Resorts Inc.    155,585      1,834
  JBG SMITH Properties     91,265      1,732
  SL Green Realty Corp.     48,716      1,643
  Four Corners Property Trust Inc.     63,265      1,640
  National Health Investors Inc.     30,028      1,568
  Sunstone Hotel Investors Inc.    159,704      1,543
  Kennedy-Wilson Holdings Inc.     93,011      1,463
* Cushman & Wakefield plc    115,199      1,435
* Zillow Group Inc. Class A     44,085      1,376
  Pebblebrook Hotel Trust    102,600      1,374
  CareTrust REIT Inc.     71,200      1,323
  DigitalBridge Group Inc.    120,703      1,321
  Tanger Factory Outlet Centers Inc.     72,392      1,299
  Retail Opportunity Investments Corp.     85,930      1,292
  DiamondRock Hospitality Co.    156,295      1,280
  RLJ Lodging Trust    118,556      1,256
  Urban Edge Properties     87,419      1,232
* Veris Residential Inc.     76,542      1,219
  InvenTrust Properties Corp.     49,355      1,168
  Elme Communities     63,767      1,135
  Xenia Hotels & Resorts Inc.     84,830      1,118
  LTC Properties Inc.     31,068      1,104
  Easterly Government Properties Inc. Class A     76,862      1,097
  Hudson Pacific Properties Inc.    111,918      1,089
  Getty Realty Corp.     32,126      1,087
  Uniti Group Inc.    182,435      1,009
  Alexander & Baldwin Inc.     53,230        997
  St. Joe Co.     25,476        985
  Acadia Realty Trust     67,107        963
  American Assets Trust Inc.     34,997        927
          Shares Market
Value•
($000)
  Piedmont Office Realty Trust Inc. Class A    100,960        926
  Empire State Realty Trust Inc. Class A    137,300        925
* GEO Group Inc.     84,496        925
  Paramount Group Inc.    150,229        892
  Global Net Lease Inc.     70,884        891
  Service Properties Trust    116,610        850
  Brandywine Realty Trust    133,714        822
  NETSTREIT Corp.     43,048        789
  NexPoint Residential Trust Inc.     17,903        779
  Apartment Investment & Management Co. Class A    106,401        758
  Centerspace     12,541        736
* Radius Global Infrastructure Inc.     61,100        722
  RPT Realty     70,559        708
  Newmark Group Inc. Class A     87,090        694
  Marcus & Millichap Inc.     18,757        646
  UMH Properties Inc.     39,327        633
  Armada Hoffler Properties Inc.     52,430        603
  Necessity Retail REIT Inc. Class A     99,800        592
  Community Healthcare Trust Inc.     16,547        592
  Plymouth Industrial REIT Inc.     30,451        584
  eXp World Holdings Inc.     52,290        579
  Summit Hotel Properties Inc.     77,848        562
  Safehold Inc.     19,589        561
* Anywhere Real Estate Inc.     87,100        557
  Gladstone Commercial Corp.     28,553        528
  Gladstone Land Corp.     27,240        500
* Compass Inc. Class A    213,651        498
  Office Properties Income Trust     36,326        485
  Chatham Lodging Trust     38,700        475
  Farmland Partners Inc.     36,575        456
  Urstadt Biddle Properties Inc. Class A     23,329        442
  Global Medical REIT Inc.     46,224        438
  Universal Health Realty Income Trust      9,107        435
* Tejon Ranch Co.     22,743        429
* Opendoor Technologies Inc.    361,700        420
  Ares Commercial Real Estate Corp.     39,600        408
*,1 Seritage Growth Properties Class A     31,500        373
  Orion Office REIT Inc.     42,982        367
  Alexander's Inc.      1,565        344
  Saul Centers Inc.      8,462        344
  Whitestone REIT     35,347        341
* WeWork Inc.    233,200        334
* Redfin Corp.     77,098        327
  Bridge Investment Group Holdings Inc. Class A     26,883        324
  RMR Group Inc. Class A     10,425        295
  RE/MAX Holdings Inc. Class A     15,637        291
  One Liberty Properties Inc.     13,037        290
  CTO Realty Growth Inc.     15,777        288
* FRP Holdings Inc.      5,128        276
* Forestar Group Inc.     14,329        221
  BRT Apartments Corp.     10,834        213
  Douglas Elliman Inc.     50,797        207
  Hersha Hospitality Trust Class A     23,600        201
  City Office REIT Inc.     23,669        198
  Industrial Logistics Properties Trust     57,267        187
  Postal Realty Trust Inc. Class A     12,803        186
  Braemar Hotels & Resorts Inc.     41,700        171
  Indus Realty Trust Inc.      2,416        153
* Ashford Hospitality Trust Inc.     33,216        148
  Alpine Income Property Trust Inc.      7,700        147
  Franklin Street Properties Corp.     50,715        138
  Diversified Healthcare Trust    181,625        117
  Clipper Realty Inc.     14,042         90
  Stratus Properties Inc.      3,856         74
* Bluerock Homes Trust Inc.      2,589         55
  Global Self Storage Inc.     10,820         53
* Fathom Holdings Inc.      5,900         25
 
26

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Altisource Portfolio Solutions SA      2,562         24
* Sotherly Hotels Inc.     10,121         18
* Maui Land & Pineapple Co. Inc.      1,478         14
* Rafael Holdings Inc. Class B      7,468         14
  New York City REIT Inc. Class A      7,784         14
* Power REIT      3,393         13
* Trinity Place Holdings Inc.     15,000         11
*,2 Spirit MTA REIT     44,200         —
                                                 973,608
Technology (13.9%)
  Apple Inc. 11,447,440  1,487,366
  Microsoft Corp.  5,646,483  1,354,140
* Alphabet Inc. Class A  4,524,480    399,195
* Alphabet Inc. Class C  3,918,580    347,696
  NVIDIA Corp.  1,769,892    258,652
* Meta Platforms Inc. Class A  1,703,228    204,966
  Broadcom Inc.    306,570    171,413
* Adobe Inc.    352,081    118,486
  Texas Instruments Inc.    686,515    113,426
  International Business Machines Corp.    685,011     96,511
* Salesforce Inc.    720,315     95,507
  QUALCOMM Inc.    849,486     93,393
  Oracle Corp.  1,123,416     91,828
  Intel Corp.  3,123,706     82,560
* Advanced Micro Devices Inc.  1,220,054     79,023
  Intuit Inc.    201,959     78,606
  Applied Materials Inc.    652,044     63,496
  Analog Devices Inc.    385,859     63,292
* ServiceNow Inc.    153,186     59,478
  Lam Research Corp.    103,147     43,353
  Micron Technology Inc.    822,371     41,102
  KLA Corp.    107,517     40,537
* Synopsys Inc.    115,997     37,037
  Roper Technologies Inc.     80,548     34,804
  Amphenol Corp. Class A    450,386     34,292
* Cadence Design Systems Inc.    207,810     33,383
* Palo Alto Networks Inc.    229,096     31,968
* Autodesk Inc.    163,823     30,614
* Snowflake Inc. Class A    206,379     29,624
  Microchip Technology Inc.    417,098     29,301
  TE Connectivity Ltd.    240,207     27,576
* Workday Inc. Class A    153,045     25,609
* Fortinet Inc.    502,130     24,549
  Marvell Technology Inc.    649,121     24,043
  Cognizant Technology Solutions Corp. Class A    388,065     22,193
* VMware Inc. Class A    176,829     21,708
* ON Semiconductor Corp.    326,859     20,386
* Gartner Inc.     56,756     19,078
  HP Inc.    691,181     18,572
  Corning Inc.    575,089     18,368
  CDW Corp.    102,363     18,280
* Crowdstrike Holdings Inc. Class A    163,153     17,178
* ANSYS Inc.     66,075     15,963
  Hewlett Packard Enterprise Co.    977,530     15,601
* Datadog Inc. Class A    198,936     14,622
* Atlassian Corp. Class A    112,800     14,515
* VeriSign Inc.     67,823     13,934
* EPAM Systems Inc.     41,110     13,473
* Paycom Software Inc.     38,765     12,029
  Monolithic Power Systems Inc.     33,969     12,012
  Skyworks Solutions Inc.    121,447     11,067
  Leidos Holdings Inc.    103,068     10,842
* Zoom Video Communications Inc. Class A    159,227     10,786
* Pinterest Inc. Class A    443,410     10,766
* Splunk Inc.    123,771     10,655
* DoorDash Inc. Class A    217,885     10,637
  Teradyne Inc.    118,482     10,349
          Shares Market
Value•
($000)
* Tyler Technologies Inc.     31,755     10,238
* HubSpot Inc.     34,678     10,026
* Akamai Technologies Inc.    118,477      9,988
  NetApp Inc.    165,564      9,944
* MongoDB Inc. Class A     49,549      9,753
* PTC Inc.     79,578      9,553
* Cloudflare Inc. Class A    204,455      9,243
  Gen Digital Inc.    416,810      8,932
* GoDaddy Inc. Class A    118,155      8,840
* Match Group Inc.    210,545      8,736
  SS&C Technologies Holdings Inc.    162,950      8,483
* DocuSign Inc. Class A    151,347      8,388
* Palantir Technologies Inc. Class A  1,267,114      8,135
* ZoomInfo Technologies Inc. Class A    262,030      7,890
  Seagate Technology Holdings plc    147,245      7,747
* Western Digital Corp.    240,489      7,587
  Dell Technologies Inc. Class C    187,747      7,551
* Okta Inc. Class A    110,043      7,519
  Entegris Inc.    112,851      7,402
* Zscaler Inc.     64,936      7,266
* Ceridian HCM Holding Inc.    110,122      7,064
* Black Knight Inc.    112,888      6,971
* Qorvo Inc.     76,591      6,942
* Snap Inc. Class A    764,177      6,839
* Lattice Semiconductor Corp.    104,348      6,770
*,1 Unity Software Inc.    235,912      6,745
  Jabil Inc.     96,421      6,576
* F5 Inc.     45,481      6,527
* Twilio Inc. Class A    131,590      6,443
* Wolfspeed Inc.     93,324      6,443
  Bentley Systems Inc. Class B    166,235      6,144
* Pure Storage Inc. Class A    215,678      5,772
* Dynatrace Inc.    150,432      5,762
* Manhattan Associates Inc.     46,406      5,634
  KBR Inc.    104,246      5,504
* CACI International Inc. Class A     17,626      5,298
* Arrow Electronics Inc.     45,679      4,777
  Science Applications International Corp.     42,184      4,679
* Nutanix Inc. Class A    177,449      4,623
* Coupa Software Inc.     57,727      4,570
* DXC Technology Co.    171,974      4,557
* Dropbox Inc. Class A    202,239      4,526
* Aspen Technology Inc.     21,807      4,479
* Toast Inc. Class A    230,089      4,149
  Concentrix Corp.     28,842      3,841
* Guidewire Software Inc.     60,451      3,782
  National Instruments Corp.    100,805      3,720
* Smartsheet Inc. Class A     93,716      3,689
* SPS Commerce Inc.     27,867      3,579
* Five9 Inc.     52,173      3,540
  Universal Display Corp.     32,267      3,486
* Fabrinet     27,174      3,484
* Novanta Inc.     25,530      3,469
* Tenable Holdings Inc.     86,671      3,307
* Box Inc. Class A    104,013      3,238
* Coherent Corp.     91,186      3,201
  Vertiv Holdings Co. Class A    233,700      3,192
* Silicon Laboratories Inc.     23,410      3,176
* Cirrus Logic Inc.     42,360      3,155
  Power Integrations Inc.     43,756      3,138
  Dolby Laboratories Inc. Class A     44,046      3,107
* Workiva Inc. Class A     36,735      3,085
  TD SYNNEX Corp.     31,963      3,027
* UiPath Inc. Class A    234,457      2,980
  Avnet Inc.     70,405      2,927
* Qualys Inc.     26,038      2,922
* Elastic NV     55,822      2,875
 
27

 

Balanced Index Fund
          Shares Market
Value•
($000)
* Rambus Inc.     79,489      2,847
* Synaptics Inc.     29,837      2,839
* Super Micro Computer Inc.     33,600      2,759
* IAC Inc.     61,936      2,750
* Blackline Inc.     40,808      2,745
* Insight Enterprises Inc.     26,951      2,702
* Teradata Corp.     79,516      2,677
* Ziff Davis Inc.     33,309      2,635
* Envestnet Inc.     42,683      2,634
* Gitlab Inc. Class A     56,796      2,581
* MACOM Technology Solutions Holdings Inc.     40,377      2,543
* Onto Innovation Inc.     36,971      2,517
  Advanced Energy Industries Inc.     29,131      2,499
* New Relic Inc.     43,166      2,437
* Procore Technologies Inc.     51,639      2,436
* Diodes Inc.     31,739      2,417
* Sanmina Corp.     42,134      2,414
  Dun & Bradstreet Holdings Inc.    195,332      2,395
* RingCentral Inc. Class A     67,284      2,382
* Blackbaud Inc.     40,339      2,374
* NCR Corp.    100,473      2,352
* Ambarella Inc.     27,083      2,227
* Alteryx Inc. Class A     43,594      2,209
* Plexus Corp.     21,397      2,202
* IPG Photonics Corp.     22,541      2,134
  Vishay Intertechnology Inc.     98,845      2,132
* SentinelOne Inc. Class A    144,971      2,115
* Sprout Social Inc. Class A     36,914      2,084
* CommVault Systems Inc.     32,385      2,035
  Amkor Technology Inc.     83,739      2,008
* Confluent Inc. Class A     88,431      1,967
* Axcelis Technologies Inc.     24,106      1,913
* Impinj Inc.     17,362      1,896
* Varonis Systems Inc. Class B     77,940      1,866
* Kyndryl Holdings Inc.    164,262      1,827
* Alarm.com Holdings Inc.     36,158      1,789
* Perficient Inc.     25,596      1,787
* MaxLinear Inc. Class A     52,598      1,786
* Verint Systems Inc.     48,640      1,765
* Altair Engineering Inc. Class A     38,653      1,758
* Rogers Corp.     14,496      1,730
* NetScout Systems Inc.     52,130      1,695
* KnowBe4 Inc. Class A     68,026      1,686
  Progress Software Corp.     32,609      1,645
* Freshworks Inc. Class A    111,469      1,640
* PagerDuty Inc.     61,217      1,626
  Clear Secure Inc. Class A     58,769      1,612
* Allegro MicroSystems Inc.     52,472      1,575
* nCino Inc.     57,940      1,532
* Semtech Corp.     50,092      1,437
  CSG Systems International Inc.     24,796      1,418
* Rapid7 Inc.     41,301      1,403
* Allscripts Healthcare Solutions Inc.     79,464      1,402
* Bumble Inc. Class A     66,183      1,393
* AppLovin Corp. Class A    131,823      1,388
* DoubleVerify Holdings Inc.     63,202      1,388
* Yelp Inc. Class A     50,490      1,380
* FormFactor Inc.     62,092      1,380
* Appfolio Inc. Class A     13,085      1,379
* HashiCorp Inc. Class A     49,500      1,353
* DigitalOcean Holdings Inc.     49,754      1,267
* Agilysys Inc.     15,831      1,253
  Xerox Holdings Corp.     84,212      1,230
* LiveRamp Holdings Inc.     52,341      1,227
* Parsons Corp.     26,203      1,212
* Cohu Inc.     36,517      1,170
* Paycor HCM Inc.     46,891      1,147
          Shares Market
Value•
($000)
  Adeia Inc.    120,642      1,144
* Q2 Holdings Inc.     42,552      1,143
  Methode Electronics Inc.     25,710      1,141
* SiTime Corp.     11,000      1,118
  Pegasystems Inc.     32,505      1,113
* Ultra Clean Holdings Inc.     33,444      1,109
* Model N Inc.     26,774      1,086
* JFrog Ltd.     50,700      1,081
* Jamf Holding Corp.     49,955      1,064
* TTM Technologies Inc.     70,315      1,060
* Xometry Inc. Class A     31,995      1,031
* Cargurus Inc. Class A     73,476      1,029
* Magnite Inc.     96,985      1,027
* Digital Turbine Inc.     67,013      1,021
* CCC Intelligent Solutions Holdings Inc.    117,115      1,019
*,1 MicroStrategy Inc. Class A      7,191      1,018
* E2open Parent Holdings Inc.    172,889      1,015
* Appian Corp. Class A     31,088      1,012
  Shutterstock Inc.     18,476        974
* TechTarget Inc.     21,851        963
* Upwork Inc.     89,743        937
* C3.ai Inc. Class A     79,509        890
* ePlus Inc.     20,000        886
  CTS Corp.     22,107        871
* Everbridge Inc.     28,790        852
* Qualtrics International Inc. Class A     81,233        843
* Samsara Inc. Class A     67,300        837
  A10 Networks Inc.     49,754        827
* Squarespace Inc. Class A     36,900        818
* Credo Technology Group Holding Ltd.     61,100        813
* PROS Holdings Inc.     32,175        781
* Schrodinger Inc.     41,432        774
* ForgeRock Inc. Class A     33,881        771
* Zeta Global Holdings Corp. Class A     92,057        752
* Fastly Inc. Class A     91,656        751
* Consensus Cloud Solutions Inc.     13,903        747
* Photronics Inc.     43,753        736
* PDF Solutions Inc.     25,459        726
* Asana Inc. Class A     52,069        717
* Veeco Instruments Inc.     37,309        693
* Braze Inc. Class A     25,296        690
* Planet Labs PBC    158,500        689
* Avid Technology Inc.     25,562        680
* 3D Systems Corp.     91,666        678
  Benchmark Electronics Inc.     25,359        677
* Momentive Global Inc.     96,774        677
* Duck Creek Technologies Inc.     55,901        674
* Thoughtworks Holding Inc.     65,183        664
* Ichor Holdings Ltd.     23,453        629
* UserTesting Inc.     76,962        578
* SMART Global Holdings Inc.     38,072        567
* Sumo Logic Inc.     68,945        558
* ScanSource Inc.     18,847        551
* Zuora Inc. Class A     86,545        550
* Cerence Inc.     29,489        546
* PAR Technology Corp.     20,186        526
* Sprinklr Inc. Class A     64,421        526
* Olo Inc. Class A     83,710        523
* N-able Inc.     49,481        509
* LivePerson Inc.     49,636        503
* CEVA Inc.     19,501        499
* Matterport Inc.    172,084        482
* Kimball Electronics Inc.     20,481        463
  Simulations Plus Inc.     12,535        458
* PubMatic Inc. Class A     34,466        442
* Alpha & Omega Semiconductor Ltd.     15,358        439
* Informatica Inc. Class A     26,860        438
 
28

 

Balanced Index Fund
          Shares Market
Value•
($000)
* AvePoint Inc.    104,561        430
  Ebix Inc.     21,336        426
  PC Connection Inc.      8,866        416
* EngageSmart Inc.     23,272        410
* Grid Dynamics Holdings Inc.     36,378        408
* IonQ Inc.    116,900        403
* Alkami Technology Inc.     27,498        401
* Yext Inc.     60,169        393
* Definitive Healthcare Corp. Class A     35,292        388
  American Software Inc. Class A     26,372        387
* Cvent Holding Corp. Class A     70,900        383
* Vimeo Inc.    110,126        378
* BigCommerce Holdings Inc.     42,020        367
* Eventbrite Inc. Class A     60,790        356
* Bandwidth Inc. Class A     15,236        350
*,1 indie Semiconductor Inc. Class A     59,839        349
*,1 Aehr Test Systems     16,224        326
* nLight Inc.     32,121        326
* OneSpan Inc.     29,119        326
  Hackett Group Inc.     15,802        322
* Vertex Inc. Class A     22,097        321
* Domo Inc. Class B     21,491        306
* Mitek Systems Inc.     31,555        306
* SolarWinds Corp.     32,181        301
* Amplitude Inc. Class A     24,098        291
* Blend Labs Inc. Class A    201,100        290
* Couchbase Inc.     21,811        289
* ON24 Inc.     31,300        270
* Red Violet Inc.     11,626        268
*,1 MicroVision Inc.    113,698        267
* NerdWallet Inc. Class A     27,858        267
* Navitas Semiconductor Corp.     75,700        266
* Tucows Inc. Class A      7,729        262
* SoundHound AI Inc.    146,000        258
* ACM Research Inc. Class A     32,940        254
  Richardson Electronics Ltd.     11,600        247
* Unisys Corp.     48,242        247
  NVE Corp.      3,806        246
* Expensify Inc. Class A     26,560        235
* Intapp Inc.      9,357        233
* Nextdoor Holdings Inc.    108,100        223
*,1 Digimarc Corp.     11,500        213
* EverCommerce Inc.     27,192        202
* Benefitfocus Inc.     18,600        195
* Telos Corp.     38,079        194
* EverQuote Inc. Class A     12,900        190
* Weave Communications Inc.     38,872        178
* Brightcove Inc.     33,486        175
* SmartRent Inc. Class A     71,700        174
* MediaAlpha Inc. Class A     16,800        167
*,1 Rumble Inc.     27,300        162
* Identiv Inc.     21,679        157
* Arena Group Holdings Inc.     14,750        157
* SEMrush Holdings Inc. Class A     19,197        156
* Upland Software Inc.     21,208        151
* TrueCar Inc.     59,207        149
* eGain Corp.     16,436        148
* Enfusion Inc. Class A     14,958        145
* AXT Inc.     32,600        143
* Innovid Corp.     80,434        138
* MeridianLink Inc.      9,754        134
* CoreCard Corp.      4,500        130
* Asure Software Inc.     13,700        128
*,1 Groupon Inc. Class A     14,600        125
* Aeva Technologies Inc.     90,600        123
* Rackspace Technology Inc.     41,198        122
* System1 Inc.     25,300        119
          Shares Market
Value•
($000)
* Porch Group Inc.     60,900        115
* Edgio Inc.     96,551        109
* Veritone Inc.     20,477        109
* inTEST Corp.     10,157        105
* Rimini Street Inc.     27,624        105
*,1 Atomera Inc.     16,254        101
* Intevac Inc.     15,339         99
* NextNav Inc.     33,050         97
* KULR Technology Group Inc.     79,473         95
* Amtech Systems Inc.     11,877         90
* Transphorm Inc.     16,300         89
* Immersion Corp.     12,233         86
* Innodata Inc.     28,773         85
* Vroom Inc.     83,000         85
* Diebold Nixdorf Inc.     59,335         84
* Smith Micro Software Inc.     40,208         84
* Kopin Corp.     64,443         80
* Ouster Inc.     92,000         79
* WM Technology Inc.     69,888         71
* comScore Inc.     58,400         68
* VirnetX Holding Corp.     52,143         68
*,1 Embark Technology Inc.     19,800         65
* Vinco Ventures Inc.    134,900         63
*,1 Alpine 4 Holdings Inc.    117,100         62
* Beachbody Co. Inc.    116,800         61
* Computer Task Group Inc.      7,990         60
* eMagin Corp.     70,432         60
* Pixelworks Inc.     32,934         58
* Cyxtera Technologies Inc.     29,000         56
* Skillz Inc. Class A    109,300         55
* SecureWorks Corp. Class A      8,244         53
*,1 Cleanspark Inc.     26,200         53
* SkyWater Technology Inc.      7,497         53
*,1 Phunware Inc.     67,200         52
* Synchronoss Technologies Inc.     80,600         50
  Park City Group Inc.      9,689         48
* Quantum Corp.     33,700         37
* Loyalty Ventures Inc.     14,634         35
* TransAct Technologies Inc.      5,458         34
* AstroNova Inc.      2,465         32
* Terawulf Inc.     47,800         32
  CSP Inc.      3,181         30
* EMCORE Corp.     28,435         27
* Everspin Technologies Inc.      4,413         25
* Daktronics Inc.      8,619         24
* Zedge Inc. Class B     12,613         22
* Issuer Direct Corp.        848         21
* Streamline Health Solutions Inc.     11,428         18
* GSI Technology Inc.      9,342         16
* CVD Equipment Corp.      2,737         15
* Inuvo Inc.     65,578         15
* Data I/O Corp.      3,396         13
*,1 Avaya Holdings Corp.     60,729         12
* Super League Gaming Inc.     34,300         12
*,1 IronNet Inc.     49,500         11
* Intrusion Inc.      3,079         10
* authID Inc.     17,600         10
* Key Tronic Corp.      2,174          9
* BSQUARE Corp.      4,685          5
* QuickLogic Corp.        937          5
* Kubient Inc.      6,900          4
* Backblaze Inc. Class A        596          4
* Cipher Mining Inc.      7,848          4
* Mastech Digital Inc.        260          3
* Arteris Inc.        510          2
                                               6,679,691
 
29

 

Balanced Index Fund
          Shares Market
Value•
($000)
Telecommunications (1.4%)
  Cisco Systems Inc.  2,801,938    133,484
  Verizon Communications Inc.  3,023,510    119,126
  Comcast Corp. Class A  3,266,201    114,219
  AT&T Inc.  5,398,840     99,393
* T-Mobile US Inc.    470,913     65,928
  Motorola Solutions Inc.    127,075     32,748
* Charter Communications Inc. Class A     76,488     25,937
* Arista Networks Inc.    174,688     21,198
  Juniper Networks Inc.    248,416      7,939
* Liberty Broadband Corp. Class C     91,578      6,985
* Ciena Corp.    113,587      5,791
* Frontier Communications Parent Inc.    188,936      4,814
* Iridium Communications Inc.     85,751      4,408
  Lumen Technologies Inc.    786,489      4,105
* Roku Inc. Class A     90,253      3,673
  Cable One Inc.      4,494      3,199
* Calix Inc.     41,225      2,821
* DISH Network Corp. Class A    189,125      2,655
* Lumentum Holdings Inc.     48,295      2,519
  Cogent Communications Holdings Inc.     33,438      1,909
* Extreme Networks Inc.    100,915      1,848
* Viasat Inc.     57,546      1,821
* Viavi Solutions Inc.    172,273      1,811
* CommScope Holding Co. Inc.    156,200      1,148
  InterDigital Inc.     20,970      1,038
  ADTRAN Holdings Inc.     54,634      1,027
* Harmonic Inc.     76,373      1,000
* Infinera Corp.    145,087        978
* Digi International Inc.     25,720        940
* Liberty Broadband Corp. Class A     12,022        912
* Clearfield Inc.      9,579        902
* Altice USA Inc. Class A    172,745        795
* Gogo Inc.     53,620        791
  Telephone & Data Systems Inc.     74,348        780
* Globalstar Inc.    528,607        703
  Shenandoah Telecommunications Co.     36,710        583
* IDT Corp. Class B     18,097        510
* EchoStar Corp. Class A     27,919        466
* NETGEAR Inc.     24,562        445
* WideOpenWest Inc.     45,637        416
  ATN International Inc.      8,375        379
* Anterix Inc.     11,305        364
* 8x8 Inc.     81,172        351
*,1 Lightwave Logic Inc.     79,946        345
  Comtech Telecommunications Corp.     22,650        275
* Ooma Inc.     19,530        266
*,1 fuboTV Inc.    146,954        256
* Aviat Networks Inc.      7,168        224
  Bel Fuse Inc. Class B      6,700        220
*,1 AST SpaceMobile Inc. Class A     44,700        215
* United States Cellular Corp.     10,230        213
* DZS Inc.     16,287        206
* Consolidated Communications Holdings Inc.     54,100        194
* Ribbon Communications Inc.     63,300        177
* Lantronix Inc.     34,911        151
  Spok Holdings Inc.     17,400        142
* Cambium Networks Corp.      6,400        139
* Powerfleet Inc.     36,995         99
* Charge Enterprises Inc.     79,700         99
* CalAmp Corp.     21,071         94
* Casa Systems Inc.     34,412         94
* Akoustis Technologies Inc.     32,901         93
* KVH Industries Inc.      9,132         93
* Inseego Corp.     68,062         57
* Airgain Inc.      8,585         56
* Genasys Inc.     13,190         49
          Shares Market
Value•
($000)
  Crexendo Inc.      5,700         11
* ClearOne Inc.      4,114          6
  Network-1 Technologies Inc.      2,710          6
* Optical Cable Corp.        476          2
                                                 686,641
Utilities (2.1%)
  NextEra Energy Inc.  1,505,327    125,845
  Duke Energy Corp.    583,850     60,131
  Southern Co.    824,566     58,882
  Waste Management Inc.    309,891     48,616
  Dominion Energy Inc.    630,121     38,639
  American Electric Power Co. Inc.    388,458     36,884
  Sempra Energy    238,133     36,801
  Exelon Corp.    753,654     32,580
  Xcel Energy Inc.    413,183     28,968
  Waste Connections Inc.    194,580     25,794
* PG&E Corp.  1,583,159     25,742
  Consolidated Edison Inc.    268,544     25,595
  Public Service Enterprise Group Inc.    376,802     23,087
  WEC Energy Group Inc.    239,471     22,453
  Eversource Energy    266,833     22,371
  Constellation Energy Corp.    246,951     21,290
  American Water Works Co. Inc.    137,654     20,981
  Republic Services Inc. Class A    155,012     19,995
  Edison International    291,957     18,574
  Ameren Corp.    194,898     17,330
  FirstEnergy Corp.    411,745     17,269
  Entergy Corp.    153,396     17,257
  PPL Corp.    528,475     15,442
  AES Corp.    508,471     14,624
  DTE Energy Co.    122,380     14,383
  CenterPoint Energy Inc.    479,303     14,374
  CMS Energy Corp.    218,693     13,850
  Atmos Energy Corp.    106,679     11,956
  Evergy Inc.    172,216     10,838
  Alliant Energy Corp.    189,421     10,458
  Essential Utilities Inc.    179,629      8,574
  NiSource Inc.    309,917      8,498
  Vistra Corp.    308,203      7,150
  Pinnacle West Capital Corp.     85,808      6,525
  OGE Energy Corp.    150,024      5,933
  UGI Corp.    156,444      5,799
  NRG Energy Inc.    172,068      5,475
* Clean Harbors Inc.     39,383      4,494
  National Fuel Gas Co.     69,062      4,372
  IDACORP Inc.     38,556      4,158
* Evoqua Water Technologies Corp.     93,598      3,707
  New Jersey Resources Corp.     73,659      3,655
* Sunrun Inc.    151,567      3,641
  Black Hills Corp.     49,932      3,512
* Stericycle Inc.     70,158      3,500
  Hawaiian Electric Industries Inc.     80,997      3,390
  Portland General Electric Co.     68,201      3,342
  South Jersey Industries Inc.     92,273      3,278
  PNM Resources Inc.     66,764      3,257
  ONE Gas Inc.     41,664      3,155
  Ormat Technologies Inc.     36,355      3,144
* Casella Waste Systems Inc. Class A     39,363      3,122
  Southwest Gas Holdings Inc.     48,421      2,996
  California Water Service Group     48,258      2,926
  ALLETE Inc.     43,184      2,786
  Spire Inc.     37,955      2,614
  Avangrid Inc.     60,237      2,589
  NorthWestern Corp.     43,235      2,566
  Avista Corp.     57,440      2,547
  American States Water Co.     27,294      2,526
  MGE Energy Inc.     26,169      1,842
 
30

 

Balanced Index Fund
          Shares Market
Value•
($000)
  Clearway Energy Inc. Class C     54,482      1,736
  SJW Group     21,006      1,706
  Chesapeake Utilities Corp.     13,078      1,546
* Sunnova Energy International Inc.     72,464      1,305
  Northwest Natural Holding Co.     25,775      1,227
  Middlesex Water Co.     14,057      1,106
  Clearway Energy Inc. Class A     29,143        872
  Unitil Corp.     13,518        694
*,1 NuScale Power Corp.     45,800        470
* Heritage-Crystal Clean Inc.     14,261        463
  York Water Co.      9,268        417
* Harsco Corp.     61,710        388
  Artesian Resources Corp. Class A      6,216        364
  Excelerate Energy Inc. Class A     12,138        304
*,1 Vertex Energy Inc.     42,599        264
  Aris Water Solution Inc. Class A     14,434        208
* Altus Power Inc. Class A     29,800        194
  Genie Energy Ltd. Class B     13,020        135
* Pure Cycle Corp.     12,111        127
  RGC Resources Inc.      5,719        126
  Via Renewables Inc. Class A      9,045         46
  Global Water Resources Inc.      2,764         37
* Perma-Fix Environmental Services Inc.        605          2
                                                  989,819
Total Common Stocks (Cost $9,439,613) 28,527,078
Preferred Stocks (0.0%)
  FAT Brands Inc. Pfd., 8.250%, 2/7/23        346          5
  Air T Funding Pfd., 8.000%, 6/7/24         28          1
Total Preferred Stocks (Cost $5) 6
      Coupon Maturity
Date 		Face
Amount
($000) 		 
U.S. Government and Agency Obligations (26.4%)
U.S. Government Securities (17.9%)
  United States Treasury Note/Bond  0.125% 12/15/23     53,420     51,166
  United States Treasury Note/Bond  0.750% 12/31/23     43,480     41,802
  United States Treasury Note/Bond  0.125% 1/15/24     60,690     57,864
  United States Treasury Note/Bond  0.875% 1/31/24     26,858     25,763
  United States Treasury Note/Bond  2.250% 1/31/24     37,380     36,393
  United States Treasury Note/Bond  2.500% 1/31/24     37,219     36,335
  United States Treasury Note/Bond  0.125% 2/15/24     54,230     51,518
  United States Treasury Note/Bond  2.750% 2/15/24     29,974     29,318
  United States Treasury Note/Bond  1.500% 2/29/24     53,376     51,457
  United States Treasury Note/Bond  2.125% 2/29/24     10,040      9,747
  United States Treasury Note/Bond  2.125% 3/31/24     20,948     20,290
  United States Treasury Note/Bond  2.250% 3/31/24     75,085     72,844
  United States Treasury Note/Bond  0.375% 4/15/24     59,975     56,751
  United States Treasury Note/Bond  2.000% 4/30/24     20,345     19,630
  United States Treasury Note/Bond  2.250% 4/30/24     21,021     20,354
  United States Treasury Note/Bond  0.250% 5/15/24     29,650     27,908
  United States Treasury Note/Bond  2.500% 5/15/24     54,662     53,048
  United States Treasury Note/Bond  2.000% 5/31/24     38,427     37,022
  United States Treasury Note/Bond  2.500% 5/31/24     19,060     18,485
  United States Treasury Note/Bond  0.250% 6/15/24     26,083     24,481
  United States Treasury Note/Bond  1.750% 6/30/24     23,576     22,596
  United States Treasury Note/Bond  2.000% 6/30/24     30,635     29,448
  United States Treasury Note/Bond  0.375% 7/15/24     42,593     39,891
  United States Treasury Note/Bond  1.750% 7/31/24     13,537     12,946
  United States Treasury Note/Bond  2.125% 7/31/24     14,710     14,149
  United States Treasury Note/Bond  3.000% 7/31/24        240        234
  United States Treasury Note/Bond  0.375% 8/15/24     53,215     49,714
  United States Treasury Note/Bond  2.375% 8/15/24     32,871     31,715
  United States Treasury Note/Bond  1.250% 8/31/24     18,258     17,285
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  United States Treasury Note/Bond  0.375% 9/15/24     57,320     53,406
  United States Treasury Note/Bond  1.500% 9/30/24     22,661     21,514
  United States Treasury Note/Bond  0.625% 10/15/24    105,015     98,041
  United States Treasury Note/Bond  2.250% 10/31/24     35,320     33,913
  United States Treasury Note/Bond  4.375% 10/31/24     21,538     21,474
  United States Treasury Note/Bond  0.750% 11/15/24     37,635     35,130
  United States Treasury Note/Bond  2.250% 11/15/24     46,200     44,366
  United States Treasury Note/Bond  7.500% 11/15/24        675        710
  United States Treasury Note/Bond  1.500% 11/30/24     33,166     31,378
  United States Treasury Note/Bond  2.125% 11/30/24     22,105     21,155
  United States Treasury Note/Bond  4.500% 11/30/24      6,560      6,561
  United States Treasury Note/Bond  1.000% 12/15/24     78,843     73,767
  United States Treasury Note/Bond  1.750% 12/31/24      9,385      8,907
  United States Treasury Note/Bond  2.250% 12/31/24      3,167      3,034
  United States Treasury Note/Bond  1.125% 1/15/25     74,715     69,894
  United States Treasury Note/Bond  1.375% 1/31/25     40,036     37,603
  United States Treasury Note/Bond  2.500% 1/31/25     18,840     18,113
  United States Treasury Note/Bond  1.500% 2/15/25     79,995     75,270
  United States Treasury Note/Bond  2.000% 2/15/25     68,041     64,735
  United States Treasury Note/Bond  1.125% 2/28/25     32,270     30,117
  United States Treasury Note/Bond  2.750% 2/28/25     19,890     19,212
  United States Treasury Note/Bond  1.750% 3/15/25     40,450     38,206
  United States Treasury Note/Bond  0.500% 3/31/25    177,241    162,729
  United States Treasury Note/Bond  2.625% 4/15/25     73,052     70,278
  United States Treasury Note/Bond  0.375% 4/30/25     65,185     59,481
  United States Treasury Note/Bond  2.875% 4/30/25     53,483     51,745
  United States Treasury Note/Bond  2.125% 5/15/25     40,319     38,303
  United States Treasury Note/Bond  2.750% 5/15/25     43,030     41,470
  United States Treasury Note/Bond  0.250% 5/31/25     37,490     34,010
  United States Treasury Note/Bond  2.875% 5/31/25     25,340     24,493
  United States Treasury Note/Bond  2.875% 6/15/25    120,615    116,526
  United States Treasury Note/Bond  0.250% 6/30/25     16,050     14,535
  United States Treasury Note/Bond  2.750% 6/30/25     24,044     23,150
  United States Treasury Note/Bond  3.000% 7/15/25     26,313     25,482
  United States Treasury Note/Bond  0.250% 7/31/25     67,172     60,602
  United States Treasury Note/Bond  2.875% 7/31/25     34,960     33,769
  United States Treasury Note/Bond  2.000% 8/15/25     52,747     49,788
  United States Treasury Note/Bond  3.125% 8/15/25     98,023     95,159
  United States Treasury Note/Bond  6.875% 8/15/25      1,943      2,058
  United States Treasury Note/Bond  0.250% 8/31/25     33,812     30,394
  United States Treasury Note/Bond  3.500% 9/15/25     35,560     34,838
  United States Treasury Note/Bond  0.250% 9/30/25     39,495     35,453
  United States Treasury Note/Bond  4.250% 10/15/25    142,290    142,179
  United States Treasury Note/Bond  0.250% 10/31/25     25,440     22,745
  United States Treasury Note/Bond  2.250% 11/15/25      6,372      6,029
  United States Treasury Note/Bond  4.500% 11/15/25     85,950     86,487
  United States Treasury Note/Bond  0.375% 11/30/25     79,350     70,969
  United States Treasury Note/Bond  4.000% 12/15/25     12,815     12,735
  United States Treasury Note/Bond  0.375% 12/31/25     26,597     23,754
  United States Treasury Note/Bond  0.375% 1/31/26     78,780     70,065
  United States Treasury Note/Bond  1.625% 2/15/26     59,937     55,414
  United States Treasury Note/Bond  0.500% 2/28/26     54,345     48,409
  United States Treasury Note/Bond  0.750% 3/31/26     69,340     62,146
  United States Treasury Note/Bond  2.250% 3/31/26     25,535     24,059
  United States Treasury Note/Bond  0.750% 4/30/26      7,546      6,744
  United States Treasury Note/Bond  2.375% 4/30/26     17,065     16,116
  United States Treasury Note/Bond  1.625% 5/15/26     27,216     25,051
  United States Treasury Note/Bond  0.750% 5/31/26     36,415     32,472
  United States Treasury Note/Bond  2.125% 5/31/26     17,795     16,641
  United States Treasury Note/Bond  0.875% 6/30/26     64,211     57,389
  United States Treasury Note/Bond  1.875% 6/30/26     16,182     15,009
  United States Treasury Note/Bond  0.625% 7/31/26     50,979     45,029
  United States Treasury Note/Bond  1.875% 7/31/26     15,760     14,571
  United States Treasury Note/Bond  1.500% 8/15/26     51,245     46,705
  United States Treasury Note/Bond  6.750% 8/15/26      3,095      3,353
  United States Treasury Note/Bond  0.750% 8/31/26      6,113      5,410
  United States Treasury Note/Bond  0.875% 9/30/26     64,685     57,428
 
31

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  United States Treasury Note/Bond  1.125% 10/31/26     17,773     15,893
  United States Treasury Note/Bond  1.625% 10/31/26     20,445     18,656
  United States Treasury Note/Bond  2.000% 11/15/26     50,899     47,042
  United States Treasury Note/Bond  6.500% 11/15/26        910        983
  United States Treasury Note/Bond  1.250% 11/30/26      9,805      8,794
  United States Treasury Note/Bond  1.625% 11/30/26     25,526     23,273
  United States Treasury Note/Bond  1.250% 12/31/26     41,157     36,842
  United States Treasury Note/Bond  1.750% 12/31/26     22,466     20,560
  United States Treasury Note/Bond  1.500% 1/31/27     41,509     37,462
  United States Treasury Note/Bond  2.250% 2/15/27     26,207     24,372
  United States Treasury Note/Bond  1.125% 2/28/27     11,279     10,026
  United States Treasury Note/Bond  1.875% 2/28/27        808        740
  United States Treasury Note/Bond  0.625% 3/31/27     24,045     20,863
  United States Treasury Note/Bond  2.500% 3/31/27     24,930     23,391
  United States Treasury Note/Bond  0.500% 4/30/27     45,073     38,798
  United States Treasury Note/Bond  2.750% 4/30/27     28,705     27,193
  United States Treasury Note/Bond  2.375% 5/15/27     39,787     37,077
  United States Treasury Note/Bond  0.500% 5/31/27     67,015     57,455
  United States Treasury Note/Bond  2.625% 5/31/27     27,640     26,051
  United States Treasury Note/Bond  0.500% 6/30/27     19,470     16,650
  United States Treasury Note/Bond  3.250% 6/30/27        890        860
  United States Treasury Note/Bond  0.375% 7/31/27     52,975     44,938
  United States Treasury Note/Bond  2.750% 7/31/27     34,254     32,402
  United States Treasury Note/Bond  2.250% 8/15/27     44,310     40,980
  United States Treasury Note/Bond  0.500% 8/31/27     46,844     39,869
  United States Treasury Note/Bond  3.125% 8/31/27     10,554     10,152
  United States Treasury Note/Bond  0.375% 9/30/27     45,460     38,307
  United States Treasury Note/Bond  4.125% 9/30/27      6,700      6,723
  United States Treasury Note/Bond  0.500% 10/31/27     56,885     48,094
  United States Treasury Note/Bond  4.125% 10/31/27     33,084     33,198
  United States Treasury Note/Bond  2.250% 11/15/27     49,833     45,909
  United States Treasury Note/Bond  6.125% 11/15/27        775        844
  United States Treasury Note/Bond  0.625% 11/30/27     69,305     58,855
  United States Treasury Note/Bond  3.875% 11/30/27     38,825     38,607
  United States Treasury Note/Bond  0.625% 12/31/27     74,020     62,697
  United States Treasury Note/Bond  0.750% 1/31/28     61,625     52,400
  United States Treasury Note/Bond  2.750% 2/15/28     20,868     19,609
  United States Treasury Note/Bond  1.125% 2/29/28     84,425     73,067
  United States Treasury Note/Bond  1.250% 3/31/28     72,966     63,412
  United States Treasury Note/Bond  1.250% 4/30/28     64,511     55,963
  United States Treasury Note/Bond  2.875% 5/15/28     25,665     24,213
  United States Treasury Note/Bond  1.250% 5/31/28     68,185     59,023
  United States Treasury Note/Bond  1.250% 6/30/28    103,749     89,662
  United States Treasury Note/Bond  1.000% 7/31/28     84,064     71,428
  United States Treasury Note/Bond  2.875% 8/15/28     53,510     50,375
  United States Treasury Note/Bond  5.500% 8/15/28      4,895      5,229
  United States Treasury Note/Bond  1.125% 8/31/28     41,850     35,749
  United States Treasury Note/Bond  1.250% 9/30/28    113,870     97,786
  United States Treasury Note/Bond  1.375% 10/31/28     54,550     47,083
  United States Treasury Note/Bond  3.125% 11/15/28     27,149     25,881
  United States Treasury Note/Bond  5.250% 11/15/28     14,810     15,669
  United States Treasury Note/Bond  1.500% 11/30/28     76,835     66,702
  United States Treasury Note/Bond  1.375% 12/31/28     27,340     23,572
  United States Treasury Note/Bond  1.750% 1/31/29     56,105     49,276
  United States Treasury Note/Bond  2.625% 2/15/29     53,000     49,000
  United States Treasury Note/Bond  1.875% 2/28/29     39,895     35,338
  United States Treasury Note/Bond  2.375% 3/31/29     45,010     40,952
  United States Treasury Note/Bond  2.875% 4/30/29     18,210     17,049
  United States Treasury Note/Bond  2.750% 5/31/29     34,370     31,910
  United States Treasury Note/Bond  3.250% 6/30/29     32,740     31,313
  United States Treasury Note/Bond  2.625% 7/31/29     15,150     13,950
  United States Treasury Note/Bond  1.625% 8/15/29     19,267     16,708
  United States Treasury Note/Bond  6.125% 8/15/29      3,462      3,864
  United States Treasury Note/Bond  3.125% 8/31/29     43,880     41,652
  United States Treasury Note/Bond  3.875% 9/30/29     26,540     26,337
  United States Treasury Note/Bond  4.000% 10/31/29     43,225     43,232
  United States Treasury Note/Bond  1.750% 11/15/29     14,500     12,638
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  United States Treasury Note/Bond  3.875% 11/30/29     15,501     15,392
5 United States Treasury Note/Bond  3.875% 12/31/29      1,640      1,631
  United States Treasury Note/Bond  1.500% 2/15/30     52,129     44,391
  United States Treasury Note/Bond  0.625% 5/15/30     71,827     56,811
  United States Treasury Note/Bond  6.250% 5/15/30      2,570      2,929
  United States Treasury Note/Bond  0.625% 8/15/30     88,711     69,791
  United States Treasury Note/Bond  0.875% 11/15/30     94,936     75,860
  United States Treasury Note/Bond  1.125% 2/15/31     81,068     66,032
  United States Treasury Note/Bond  5.375% 2/15/31      8,005      8,770
  United States Treasury Note/Bond  1.625% 5/15/31     91,688     77,118
  United States Treasury Note/Bond  1.250% 8/15/31    104,807     85,041
  United States Treasury Note/Bond  1.375% 11/15/31    111,466     90,688
  United States Treasury Note/Bond  1.875% 2/15/32     94,466     80,060
  United States Treasury Note/Bond  2.875% 5/15/32     74,169     68,328
  United States Treasury Note/Bond  2.750% 8/15/32     85,840     78,074
  United States Treasury Note/Bond  4.125% 11/15/32     75,785     77,300
  United States Treasury Note/Bond  4.500% 2/15/36     10,234     10,906
  United States Treasury Note/Bond  5.000% 5/15/37     14,986     16,721
  United States Treasury Note/Bond  4.375% 2/15/38     11,517     12,069
  United States Treasury Note/Bond  4.500% 5/15/38      6,044      6,421
  United States Treasury Note/Bond  3.500% 2/15/39      6,398      6,011
  United States Treasury Note/Bond  4.250% 5/15/39      7,883      8,115
  United States Treasury Note/Bond  4.500% 8/15/39      9,884     10,472
  United States Treasury Note/Bond  4.375% 11/15/39     11,686     12,183
  United States Treasury Note/Bond  4.625% 2/15/40     10,000     10,739
  United States Treasury Note/Bond  1.125% 5/15/40     35,285     22,103
  United States Treasury Note/Bond  4.375% 5/15/40      5,139      5,345
  United States Treasury Note/Bond  1.125% 8/15/40     37,305     23,205
  United States Treasury Note/Bond  3.875% 8/15/40      8,449      8,242
  United States Treasury Note/Bond  1.375% 11/15/40     57,480     37,380
  United States Treasury Note/Bond  4.250% 11/15/40      4,317      4,413
  United States Treasury Note/Bond  1.875% 2/15/41     56,471     39,918
  United States Treasury Note/Bond  4.750% 2/15/41      5,967      6,491
  United States Treasury Note/Bond  2.250% 5/15/41     48,760     36,654
  United States Treasury Note/Bond  4.375% 5/15/41     11,000     11,404
  United States Treasury Note/Bond  1.750% 8/15/41     65,196     44,649
  United States Treasury Note/Bond  3.750% 8/15/41     12,000     11,396
  United States Treasury Note/Bond  2.000% 11/15/41     31,715     22,671
  United States Treasury Note/Bond  3.125% 11/15/41     10,928      9,436
  United States Treasury Note/Bond  2.375% 2/15/42     44,662     34,090
  United States Treasury Note/Bond  3.125% 2/15/42     12,579     10,836
  United States Treasury Note/Bond  3.000% 5/15/42     11,950     10,045
  United States Treasury Note/Bond  3.250% 5/15/42     23,570     20,672
  United States Treasury Note/Bond  2.750% 8/15/42     14,706     11,831
  United States Treasury Note/Bond  3.375% 8/15/42     36,648     32,766
  United States Treasury Note/Bond  2.750% 11/15/42     15,070     12,094
  United States Treasury Note/Bond  4.000% 11/15/42     22,193     21,749
  United States Treasury Note/Bond  3.125% 2/15/43     17,361     14,803
  United States Treasury Note/Bond  2.875% 5/15/43     32,064     26,172
  United States Treasury Note/Bond  3.625% 8/15/43     23,297     21,422
  United States Treasury Note/Bond  3.750% 11/15/43     19,000     17,798
  United States Treasury Note/Bond  3.625% 2/15/44     28,823     26,454
  United States Treasury Note/Bond  3.375% 5/15/44     22,600     19,909
  United States Treasury Note/Bond  3.125% 8/15/44     30,000     25,322
  United States Treasury Note/Bond  3.000% 11/15/44     21,616     17,843
  United States Treasury Note/Bond  2.500% 2/15/45     31,348     23,614
  United States Treasury Note/Bond  3.000% 5/15/45     24,914     20,519
  United States Treasury Note/Bond  2.875% 8/15/45     34,617     27,877
  United States Treasury Note/Bond  3.000% 11/15/45     16,493     13,563
  United States Treasury Note/Bond  2.500% 2/15/46     30,604     22,891
  United States Treasury Note/Bond  2.500% 5/15/46     32,775     24,469
  United States Treasury Note/Bond  2.250% 8/15/46     29,394     20,824
  United States Treasury Note/Bond  2.875% 11/15/46     12,440      9,969
  United States Treasury Note/Bond  3.000% 2/15/47     19,275     15,781
  United States Treasury Note/Bond  3.000% 5/15/47     25,582     20,945
  United States Treasury Note/Bond  2.750% 8/15/47     32,138     25,113
  United States Treasury Note/Bond  2.750% 11/15/47     26,850     20,977
 
32

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  United States Treasury Note/Bond  3.000% 2/15/48     42,638     34,970
  United States Treasury Note/Bond  3.125% 5/15/48     37,817     31,814
  United States Treasury Note/Bond  3.000% 8/15/48     41,009     33,678
  United States Treasury Note/Bond  3.375% 11/15/48     26,886     23,735
  United States Treasury Note/Bond  3.000% 2/15/49      5,000      4,122
  United States Treasury Note/Bond  2.875% 5/15/49     25,488     20,522
  United States Treasury Note/Bond  2.250% 8/15/49     35,650     25,100
  United States Treasury Note/Bond  2.375% 11/15/49     34,864     25,271
  United States Treasury Note/Bond  2.000% 2/15/50     41,881     27,713
  United States Treasury Note/Bond  1.250% 5/15/50     49,701     26,800
  United States Treasury Note/Bond  1.375% 8/15/50     59,370     33,062
  United States Treasury Note/Bond  1.625% 11/15/50     58,713     35,026
  United States Treasury Note/Bond  1.875% 2/15/51     64,930     41,332
  United States Treasury Note/Bond  2.375% 5/15/51     64,773     46,556
  United States Treasury Note/Bond  2.000% 8/15/51     53,285     34,943
  United States Treasury Note/Bond  1.875% 11/15/51     45,676     29,011
  United States Treasury Note/Bond  2.250% 2/15/52     87,632     61,137
  United States Treasury Note/Bond  2.875% 5/15/52     55,652     44,695
  United States Treasury Note/Bond  3.000% 8/15/52     39,433     32,643
  United States Treasury Note/Bond  4.000% 11/15/52     65,480     65,766
                                               8,545,834
Agency Bonds and Notes (0.4%)
6 AID-Israel  5.500% 4/26/24      1,400      1,410
6 AID-Israel  5.500% 9/18/33        400        427
6 AID-Jordan  3.000% 6/30/25        400        386
  Federal Farm Credit Banks  0.900% 1/18/24      1,200      1,152
  Federal Farm Credit Banks  0.250% 2/26/24      2,500      2,374
  Federal Farm Credit Banks  2.625% 5/3/24      1,400      1,362
  Federal Farm Credit Banks  2.625% 5/16/24      3,135      3,047
  Federal Farm Credit Banks  2.625% 6/10/24      1,395      1,354
  Federal Farm Credit Banks  3.250% 6/17/24      1,515      1,484
  Federal Farm Credit Banks  3.100% 6/28/24      1,200      1,172
  Federal Farm Credit Banks  3.375% 8/26/24      5,000      4,896
  Federal Farm Credit Banks  4.250% 9/26/24      3,950      3,923
  Federal Farm Credit Banks  0.875% 11/18/24        876        818
  Federal Farm Credit Banks  4.500% 11/18/24      3,970      3,961
  Federal Farm Credit Banks  4.250% 12/20/24      1,000        994
  Federal Farm Credit Banks  1.125% 1/6/25        930        870
  Federal Farm Credit Banks  1.750% 2/14/25      1,490      1,409
  Federal Farm Credit Banks  2.510% 4/1/25      1,250      1,199
  Federal Farm Credit Banks  4.250% 9/30/25      1,330      1,326
  Federal Home Loan Banks  2.500% 2/13/24      3,515      3,427
  Federal Home Loan Banks  2.125% 2/28/24      2,025      1,964
  Federal Home Loan Banks  3.250% 3/8/24      1,870      1,837
  Federal Home Loan Banks  2.875% 6/14/24      2,500      2,435
  Federal Home Loan Banks  3.125% 6/14/24      3,300      3,226
  Federal Home Loan Banks  4.875% 6/14/24        775        776
  Federal Home Loan Banks  2.750% 6/28/24      3,560      3,460
7 Federal Home Loan Banks  3.000% 7/8/24      1,500      1,462
  Federal Home Loan Banks  1.500% 8/15/24      1,990      1,891
  Federal Home Loan Banks  5.375% 8/15/24        815        823
  Federal Home Loan Banks  4.500% 10/3/24      2,550      2,544
7 Federal Home Loan Banks  1.000% 12/20/24        900        840
  Federal Home Loan Banks  0.500% 4/14/25      3,500      3,204
  Federal Home Loan Banks  0.375% 9/4/25        800        721
  Federal Home Loan Banks  1.250% 12/21/26      6,500      5,802
  Federal Home Loan Banks  3.250% 6/9/28      2,700      2,589
  Federal Home Loan Banks  3.250% 11/16/28      1,965      1,881
  Federal Home Loan Banks  5.500% 7/15/36      2,775      3,040
8 Federal Home Loan Mortgage Corp.  1.500% 2/12/25      5,000      4,703
7,8 Federal Home Loan Mortgage Corp.  0.375% 7/21/25      4,500      4,072
8 Federal Home Loan Mortgage Corp.  0.375% 9/23/25     10,500      9,438
7,8 Federal Home Loan Mortgage Corp.  6.750% 9/15/29      2,270      2,605
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
8 Federal Home Loan Mortgage Corp.  6.250% 7/15/32      6,141      7,101
8 Federal National Mortgage Assn.  2.500% 2/5/24      3,881      3,786
8 Federal National Mortgage Assn.  1.750% 7/2/24      2,055      1,967
8 Federal National Mortgage Assn.  2.625% 9/6/24        660        638
8 Federal National Mortgage Assn.  1.625% 10/15/24      3,890      3,691
8 Federal National Mortgage Assn.  1.625% 1/7/25      3,460      3,268
8 Federal National Mortgage Assn.  0.500% 6/17/25      3,000      2,731
8 Federal National Mortgage Assn.  0.375% 8/25/25      6,000      5,411
8 Federal National Mortgage Assn.  0.500% 11/7/25      8,500      7,637
8 Federal National Mortgage Assn.  2.125% 4/24/26      1,600      1,494
8 Federal National Mortgage Assn.  1.875% 9/24/26      2,900      2,665
8 Federal National Mortgage Assn.  0.750% 10/8/27      8,500      7,290
8 Federal National Mortgage Assn.  6.250% 5/15/29      2,000      2,233
8 Federal National Mortgage Assn.  7.125% 1/15/30      2,405      2,820
8 Federal National Mortgage Assn.  7.250% 5/15/30      2,025      2,409
8 Federal National Mortgage Assn.  0.875% 8/5/30      7,000      5,490
8 Federal National Mortgage Assn.  6.625% 11/15/30      9,320     10,774
8 Federal National Mortgage Assn.  5.625% 7/15/37      1,260      1,390
7 Private Export Funding Corp.  3.550% 1/15/24        725        713
7 Private Export Funding Corp.  2.450% 7/15/24        525        504
7 Private Export Funding Corp.  1.750% 11/15/24        280        264
7 Private Export Funding Corp.  3.250% 6/15/25        175        169
7 Private Export Funding Corp.  1.400% 7/15/28        800        677
  Tennessee Valley Authority  2.875% 9/15/24        954        924
  Tennessee Valley Authority  0.750% 5/15/25        500        458
7 Tennessee Valley Authority  6.750% 11/1/25      2,920      3,101
7 Tennessee Valley Authority  2.875% 2/1/27      1,000        951
  Tennessee Valley Authority  7.125% 5/1/30      2,000      2,334
  Tennessee Valley Authority  1.500% 9/15/31      1,650      1,295
7 Tennessee Valley Authority  4.700% 7/15/33        575        576
  Tennessee Valley Authority  4.650% 6/15/35        500        497
  Tennessee Valley Authority  5.880% 4/1/36        785        865
  Tennessee Valley Authority  5.500% 6/15/38        225        237
  Tennessee Valley Authority  5.250% 9/15/39      2,417      2,510
  Tennessee Valley Authority  3.500% 12/15/42        200        166
  Tennessee Valley Authority  4.250% 9/15/52        500        443
  Tennessee Valley Authority  5.375% 4/1/56      1,580      1,680
  Tennessee Valley Authority  4.625% 9/15/60        519        486
  Tennessee Valley Authority  4.250% 9/15/65        700        606
                                                 188,555
Conventional Mortgage-Backed Securities (8.1%)  
7,8 Freddie Mac Gold Pool  2.000% 8/1/28–
12/1/31 		     1,232      1,135
7,8 Freddie Mac Gold Pool  2.500% 4/1/27–
2/1/43 		    22,378     20,872
7,8 Freddie Mac Gold Pool  3.000% 10/1/24–
4/1/47 		    72,993     66,475
7,8 Freddie Mac Gold Pool  3.500% 9/1/25–
11/1/48 		    78,857     73,610
7,8 Freddie Mac Gold Pool  4.000% 3/1/24–
11/1/48 		    43,861     42,238
7,8 Freddie Mac Gold Pool  4.500% 3/1/23–
1/1/49 		    18,984     18,767
7,8 Freddie Mac Gold Pool  5.000% 5/1/23–
1/1/49 		     6,537      6,618
7,8 Freddie Mac Gold Pool  5.500% 1/1/23–
6/1/41 		     5,736      5,804
7,8 Freddie Mac Gold Pool  6.000% 2/1/26–
5/1/40 		     3,116      3,243
7,8 Freddie Mac Gold Pool  7.000% 4/1/23–
12/1/38 		       240        247
7,8 Freddie Mac Gold Pool  7.500% 4/1/23–
1/1/32 		        22         22
7,8 Freddie Mac Gold Pool  8.000% 8/1/24–
1/1/31 		        19         20
7,8 Freddie Mac Gold Pool  8.500% 11/1/24–
5/1/30 		         1          1
 
33

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 Freddie Mac Gold Pool  9.000% 7/1/24–
5/1/25 		         1          1
7 Ginnie Mae I Pool  3.000% 1/15/26–
5/15/45 		     3,884      3,463
7 Ginnie Mae I Pool  3.500% 11/15/25–
9/15/49 		     4,236      4,009
7 Ginnie Mae I Pool  4.000% 10/15/24–
6/15/46 		     6,077      5,871
7 Ginnie Mae I Pool  4.500% 10/15/24–
2/15/49 		     5,550      5,551
7 Ginnie Mae I Pool  5.000% 5/15/34–
4/15/41 		     3,491      3,564
7 Ginnie Mae I Pool  6.000% 6/15/32         59         60
7 Ginnie Mae I Pool  6.500% 11/15/23–
8/15/39 		       480        478
7 Ginnie Mae I Pool  7.000% 8/15/23–
8/15/32 		       191        198
7 Ginnie Mae I Pool  7.500% 6/15/23–
3/15/32 		        42         44
7 Ginnie Mae I Pool  8.000% 4/15/23–
3/15/32 		        37         39
7 Ginnie Mae I Pool  8.500% 7/15/24–
6/15/30 		         5          5
7 Ginnie Mae I Pool  9.000% 5/15/25–
10/15/26 		         1          1
7 Ginnie Mae II Pool  1.500% 2/20/51–
12/20/51 		     4,606      3,689
5,7 Ginnie Mae II Pool  2.000% 8/20/50–
1/15/53 		   182,550    153,253
7 Ginnie Mae II Pool  2.500% 6/20/27–
5/20/52 		   185,429    161,687
7 Ginnie Mae II Pool  3.000% 2/20/27–
6/20/52 		   183,453    165,264
5,7 Ginnie Mae II Pool  3.500% 9/20/25–
1/15/53 		   140,150    130,744
5,7 Ginnie Mae II Pool  4.000% 9/20/25–
1/15/53 		    92,415     88,923
5,7 Ginnie Mae II Pool  4.500% 11/20/35–
1/15/53 		    70,241     69,015
5,7 Ginnie Mae II Pool  5.000% 5/20/39–
1/15/53 		    38,471     38,360
5,7 Ginnie Mae II Pool  5.500% 10/20/52–
1/15/53 		    15,024     15,115
5,7 Ginnie Mae II Pool  6.000% 1/15/53      3,225      3,277
7 Ginnie Mae II Pool  6.500% 12/20/35–
11/20/39 		       316        332
7 Ginnie Mae II Pool  7.000% 4/20/38–
8/20/38 		        31         31
7,8 UMBS Pool  1.500% 7/1/35–
9/1/51 		   241,351    195,156
5,7,8 UMBS Pool  2.000% 11/1/23–
1/25/53 		   989,192    825,102
5,7,8 UMBS Pool  2.500% 1/1/27–
1/25/53 		   707,132    610,037
5,7,8 UMBS Pool  3.000% 1/1/26–
1/25/53 		   446,208    400,498
5,7,8 UMBS Pool  3.500% 9/1/25–
1/25/53 		   266,501    247,295
5,7,8 UMBS Pool  4.000% 2/1/24–
1/25/53 		   219,675    209,726
5,7,8 UMBS Pool  4.500% 4/1/23–
1/25/53 		   155,622    151,735
5,7,8 UMBS Pool  5.000% 4/1/23–
1/25/53 		    99,888     99,277
5,7,8 UMBS Pool  5.500% 7/1/25–
1/25/53 		    45,114     45,523
5,7,8 UMBS Pool  6.000% 4/1/24–
1/25/53 		    14,223     14,660
5,7,8 UMBS Pool  6.500% 1/25/53      3,950      4,048
7,8 UMBS Pool  7.000% 6/1/23–
11/1/37 		       707        750
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 UMBS Pool  7.500% 9/1/23–
12/1/32 		        52         54
7,8 UMBS Pool  8.000% 9/1/24–
10/1/30 		         6          6
7,8 UMBS Pool  8.500% 10/1/24–
7/1/30 		         9          9
7,8 UMBS Pool  9.000% 9/1/24–
6/1/26 		         3          3
                                               3,895,905
Nonconventional Mortgage-Backed Securities (0.0%)  
7,8 Fannie Mae Pool  2.318% 7/1/43        134        134
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.290%  2.409% 12/1/41         26         26
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.310%  3.560% 9/1/37         52         51
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.434%  3.684% 7/1/36          8          8
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.478%  2.672% 3/1/43         88         88
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.530%  3.780% 12/1/43         50         51
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.552%  3.802% 10/1/37         15         15
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.556%  3.806% 9/1/43         10         11
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.593%  3.358% 6/1/43         30         30
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.599%  3.849% 8/1/35         34         34
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.623%  1.998% 2/1/36          6          6
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.627%  2.127% 3/1/38          5          5
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.635%  3.885% 11/1/36         13         13
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.640%  3.890% 1/1/42         34         34
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.660%  3.910% 9/1/40          3          3
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.670%  2.045% 1/1/37         10         10
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.670%  3.874% 10/1/42         34         35
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.682%  3.359% 6/1/42         66         66
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.685%  3.935% 12/1/33         11         11
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.690%  3.161% 5/1/40          6          6
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.690%  3.940% 10/1/39–
9/1/42 		        65         66
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.692%  3.828% 8/1/39         39         40
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.695%  3.945% 7/1/39          6          6
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.698%  3.948% 8/1/40          7          7
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.700%  3.950% 12/1/40         27         27
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.700%  4.075% 7/1/37          3          3
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.701%  3.951% 10/1/42         30         31
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.705%  3.955% 11/1/39          5          5
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.721%  2.528% 5/1/42         40         40
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.729%  3.479% 6/1/41          8          8
 
34

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.737%  3.987% 9/1/34          6          6
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.739%  3.919% 11/1/39         13         13
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.747%  3.852% 7/1/41         48         50
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.750%  4.000% 10/1/40          7          8
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.751%  3.843% 9/1/43         52         54
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.775%  2.891% 5/1/42         14         14
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.780%  2.280% 2/1/41         18         19
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.783%  3.314% 7/1/42         38         39
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.794%  3.725% 3/1/42         32         33
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.795%  2.446% 3/1/42         38         39
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.797%  3.844% 8/1/42         77         76
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.799%  3.157% 2/1/42        109        110
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.805%  4.055% 11/1/41         31         31
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.810%  4.060% 11/1/33–
12/1/40 		        25         26
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.812%  2.769% 3/1/41         21         21
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.813%  3.883% 1/1/42         19         18
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.813%  4.063% 11/1/41         19         20
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.815%  2.231% 2/1/41         12         13
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.815%  3.447% 5/1/41         22         23
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.815%  4.065% 11/1/40–
12/1/41 		        48         48
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.825%  2.575% 3/1/41         20         21
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.825%  3.649% 2/1/42         25         26
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.830%  2.482% 4/1/41         28         28
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.830%  4.080% 6/1/41         26         26
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.834%  3.222% 2/1/41         11         11
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.835%  3.210% 5/1/40          5          5
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.835%  3.609% 1/1/40         18         19
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.838%  4.013% 9/1/40         16         16
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.839%  4.089% 12/1/39         13         14
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.840%  4.090% 8/1/39         13         13
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.880%  3.779% 11/1/34         18         19
7,8,9 Fannie Mae Pool, 12M USD LIBOR + 1.914%  3.289% 4/1/37         23         24
7,8,9 Fannie Mae Pool, 1YR CMT + 2.155%  4.280% 12/1/37         36         35
7,8,9 Fannie Mae Pool, 1YR CMT + 2.313%  2.438% 1/1/35         20         20
7,8,9 Fannie Mae Pool, 6M USD LIBOR + 1.058%  3.592% 4/1/37         12         12
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8,9 Fannie Mae Pool, 6M USD LIBOR + 1.840%  3.090% 8/1/37         16         17
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.532%  3.551% 9/1/37         11         11
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.625%  1.875% 1/1/38          3          3
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640%  3.390% 5/1/42          4          5
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640%  3.660% 12/1/36         13         13
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640%  3.890% 11/1/43         45         46
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.660%  3.910% 10/1/37          6          6
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.665%  3.915% 12/1/34          5          5
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.695%  2.074% 2/1/37         14         14
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.727%  1.995% 1/1/35          2          2
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.743%  3.993% 12/1/36         11         11
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.745%  1.995% 12/1/40         22         22
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.750%  3.125% 5/1/38          2          2
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.750%  3.227% 12/1/41         28         29
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.800%  2.842% 12/1/35         11         11
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.811%  3.972% 3/1/42         19         19
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.846%  3.010% 2/1/42          9          9
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.855%  4.105% 5/1/37          8          8
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  2.130% 12/1/40          5          5
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  2.216% 1/1/41         24         25
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  2.380% 3/1/41          2          3
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  3.255% 5/1/40          1          1
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  3.357% 5/1/40          3          3
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  3.612% 6/1/40          5          5
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  3.865% 6/1/41          6          6
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880%  4.130% 6/1/40         15         16
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.887%  2.657% 2/1/42         14         14
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.891%  4.141% 9/1/40         19         19
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.900%  4.150% 6/1/40–
11/1/40 		        13         13
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910%  2.390% 2/1/41          7          7
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910%  2.410% 2/1/41          6          6
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910%  2.615% 1/1/41          5          6
7,8,9 Freddie Mac Non Gold Pool, 12M USD LIBOR + 2.085%  2.585% 3/1/38          4          4
7,8,9 Freddie Mac Non Gold Pool, 1YR CMT + 2.250%  2.489% 2/1/36         13         13
7,8,9 Freddie Mac Non Gold Pool, 1YR CMT + 2.250%  3.375% 5/1/36          4          4
 
35

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8,9 Freddie Mac Non Gold Pool, 1YR CMT + 2.250%  4.375% 11/1/34         17         17
7,8,9 Freddie Mac Non Gold Pool, 1YR CMT + 2.411%  2.578% 10/1/36         16         16
7,8,9 Freddie Mac Non Gold Pool, 6M USD LIBOR + 1.665%  4.026% 1/1/37         34         35
7,9 Ginnie Mae II Pool, 1YR CMT + 1.500%  1.750% 10/20/38–
12/20/43 		       354        348
7,9 Ginnie Mae II Pool, 1YR CMT + 1.500%  2.625% 1/20/41–
3/20/43 		       415        405
7,9 Ginnie Mae II Pool, 1YR CMT + 1.500%  2.875% 4/20/41–
6/20/43 		       187        185
7,9 Ginnie Mae II Pool, 1YR CMT + 1.500%  3.625% 7/20/38          3          3
7,9 Ginnie Mae II Pool, 1YR CMT + 2.000%  2.250% 11/20/40          5          5
7,9 Ginnie Mae II Pool, 1YR CMT + 2.000%  3.375% 5/20/41          4          4
7,9 Ginnie Mae II Pool, 1YR CMT + 2.000%  4.000% 5/20/41          9          9
                                                    3,230
Total U.S. Government and Agency Obligations (Cost $14,359,121) 12,633,524
Asset-Backed/Commercial Mortgage-Backed Securities (1.0%)
7 Ally Auto Receivables Trust Series 2019-2  2.260% 8/15/24         92         92
7 Ally Auto Receivables Trust Series 2019-4  1.920% 1/15/25        125        124
7 Ally Auto Receivables Trust Series 2022-1  3.310% 11/15/26        575        559
7 Ally Auto Receivables Trust Series 2022-1  3.450% 6/15/27         50         48
7 Ally Auto Receivables Trust Series 2022-2  4.760% 5/17/27        650        646
7 Ally Auto Receivables Trust Series 2022-2  4.870% 4/17/28        200        199
7 American Express Credit Account Master Trust Series 2021-1  0.900% 11/15/26      2,025      1,880
7 American Express Credit Account Master Trust Series 2022-2  3.390% 5/15/27      3,575      3,470
7 American Express Credit Account Master Trust Series 2022-3  3.750% 8/15/27      1,950      1,904
7 AmeriCredit Automobile Receivables Trust Series 2020-3  0.760% 12/18/25        100         96
7 AmeriCredit Automobile Receivables Trust Series 2021-1  0.680% 10/19/26        150        142
7 AmeriCredit Automobile Receivables Trust Series 2021-1  0.890% 10/19/26        100         91
7 AmeriCredit Automobile Receivables Trust Series 2021-2  0.340% 12/18/26         75         73
7 AmeriCredit Automobile Receivables Trust Series 2021-3  0.760% 8/18/26        100         95
7 AmeriCredit Automobile Receivables Trust Series 2021-3  1.170% 8/18/27         50         46
7 AmeriCredit Automobile Receivables Trust Series 2021-3  1.410% 8/18/27        100         91
7 BA Credit Card Trust Series 2020-A1  0.340% 5/15/26      1,000        957
7 BA Credit Card Trust Series 2021-A1  0.440% 9/15/26        250        235
7 BA Credit Card Trust Series 2022-A1  3.530% 11/15/27        550        535
7 Banc of America Commercial Mortgage Trust Series 2015-UBS7  3.429% 9/15/48        104        100
7 Banc of America Commercial Mortgage Trust Series 2015-UBS7  3.705% 9/15/48        300        284
7 BANK Series 2017-BNK4  3.625% 5/15/50        800        745
7 BANK Series 2017-BNK5  3.390% 6/15/60        700        645
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 BANK Series 2017-BNK5  3.624% 6/15/60        350        313
7 BANK Series 2017-BNK6  3.254% 7/15/60        175        162
7 BANK Series 2017-BNK6  3.518% 7/15/60        980        909
7 BANK Series 2017-BNK6  3.741% 7/15/60        780        700
7 BANK Series 2017-BNK7  3.175% 9/15/60        480        438
7 BANK Series 2017-BNK7  3.435% 9/15/60        275        254
7 BANK Series 2017-BNK7  3.748% 9/15/60        300        273
7 BANK Series 2017-BNK8  3.488% 11/15/50        600        553
7 BANK Series 2017-BNK8  3.731% 11/15/50        100         89
7 BANK Series 2017-BNK8  4.096% 11/15/50        250        205
7 BANK Series 2017-BNK9  3.279% 11/15/54        277        261
7 BANK Series 2017-BNK9  3.538% 11/15/54        600        555
7 BANK Series 2018-BNK10  3.641% 2/15/61        125        119
7 BANK Series 2018-BNK10  3.688% 2/15/61        400        372
7 BANK Series 2018-BNK10  3.898% 2/15/61        150        136
7 BANK Series 2018-BNK11  4.046% 3/15/61        400        378
7 BANK Series 2018-BNK12  4.255% 5/15/61        500        476
7 BANK Series 2018-BNK12  4.353% 5/15/61        150        137
7 BANK Series 2018-BNK13  3.953% 8/15/61        165        154
7 BANK Series 2018-BNK13  4.217% 8/15/61        825        784
7 BANK Series 2018-BNK14  3.966% 9/15/60        100         94
7 BANK Series 2018-BNK14  4.128% 9/15/60        171        168
7 BANK Series 2018-BNK14  4.231% 9/15/60        250        237
7 BANK Series 2018-BNK14  4.481% 9/15/60        175        163
7 BANK Series 2018-BNK15  4.407% 11/15/61        470        450
7 BANK Series 2019-BNK16  4.005% 2/15/52        275        257
7 BANK Series 2019-BNK17  3.714% 4/15/52        360        331
7 BANK Series 2019-BNK17  3.976% 4/15/52         75         67
7 BANK Series 2019-BNK18  3.584% 5/15/62        640        580
7 BANK Series 2019-BNK18  3.826% 5/15/62        200        178
7 BANK Series 2019-BNK19  3.183% 8/15/61        550        485
7 BANK Series 2019-BNK19  4.031% 8/15/61        140        108
7 BANK Series 2019-BNK20  3.011% 9/15/62        725        633
7 BANK Series 2019-BNK21  2.851% 10/17/52        595        513
7 BANK Series 2019-BNK21  3.093% 10/17/52        300        253
7 BANK Series 2019-BNK22  2.978% 11/15/62        315        274
7 BANK Series 2019-BNK23  2.920% 12/15/52        735        636
7 BANK Series 2019-BNK23  3.203% 12/15/52        275        233
7 BANK Series 2019-BNK24  2.960% 11/15/62        575        499
7 BANK Series 2019-BNK24  3.283% 11/15/62        275        229
7 BANK Series 2020-BNK25  2.649% 1/15/63        375        318
7 BANK Series 2020-BNK25  2.841% 1/15/63        265        218
7 BANK Series 2020-BNK26  2.403% 3/15/63        675        563
7 BANK Series 2020-BNK26  2.687% 3/15/63        215        175
7 BANK Series 2020-BNK27  2.144% 4/15/63        600        486
7 BANK Series 2020-BNK27  2.551% 4/15/63        175        140
7 BANK Series 2020-BNK28  1.844% 3/15/63        180        142
7 BANK Series 2020-BNK29  1.997% 11/15/53        250        197
7 BANK Series 2020-BNK30  1.925% 12/15/53        300        236
7 BANK Series 2020-BNK30  2.111% 12/15/53         35         26
7 BANK Series 2021-BNK31  2.036% 2/15/54        225        179
7 BANK Series 2021-BNK31  2.211% 2/15/54        125         93
7 BANK Series 2021-BNK32  2.643% 4/15/54        350        291
7 BANK Series 2021-BNK33  2.556% 5/15/64        175        144
7 BANK Series 2021-BNK34  2.438% 6/15/63        675        546
7 BANK Series 2021-BNK35  2.285% 6/15/64        400        321
7 BANK Series 2021-BNK36  2.470% 9/15/64        600        488
7 BANK Series 2021-BNK36  2.695% 9/15/64        175        135
7 BANK Series 2021-BNK37  2.618% 11/15/64        600        493
7 BANK Series 2022-BNK43  4.399% 8/15/55        800        756
7 BANK Series 2022-BNK43  4.830% 8/15/55        175        159
7 Bank of America Merrill Lynch Commercial Mortgage Trust Series 2017-BNK3  3.574% 2/15/50      1,080      1,010
7 Bank of America Merrill Lynch Commercial Mortgage Trust Series 2017-BNK3  3.748% 2/15/50        420        380
 
36

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Barclays Commercial Mortgage Trust Series 2019-C3  3.583% 5/15/52        225        205
7 Barclays Commercial Mortgage Trust Series 2019-C4  2.919% 8/15/52      1,150      1,004
7 Barclays Commercial Mortgage Trust Series 2019-C4  3.171% 8/15/52        100         85
7 Barclays Commercial Mortgage Trust Series 2019-C5  3.063% 11/15/52        625        549
7 Barclays Commercial Mortgage Trust Series 2019-C5  3.366% 11/15/52        375        322
7 Barclays Dryrock Issuance Trust Series 2022-1  3.070% 2/15/28        450        433
7 BBCMS Mortgage Trust Series 2017-C1  3.674% 2/15/50      1,175      1,100
7 BBCMS Mortgage Trust Series 2017-C1  3.898% 2/15/50        325        295
7 BBCMS Mortgage Trust Series 2018-C2  4.314% 12/15/51        500        476
7 BBCMS Mortgage Trust Series 2020-C6  2.639% 2/15/53        450        382
7 BBCMS Mortgage Trust Series 2020-C6  2.840% 2/15/53        143        116
7 BBCMS Mortgage Trust Series 2020-C7  2.037% 4/15/53        150        122
7 BBCMS Mortgage Trust Series 2020-C8  2.040% 10/15/53        525        420
7 BBCMS Mortgage Trust Series 2020-C8  2.398% 10/15/53        110         85
7 BBCMS Mortgage Trust Series 2021-C9  2.299% 2/15/54        650        527
7 BBCMS Mortgage Trust Series 2021-C11  2.322% 9/15/54        225        181
7 BBCMS Mortgage Trust Series 2021-C11  2.536% 9/15/54        100         76
7 BBCMS Mortgage Trust Series 2021-C12  2.689% 11/15/54        375        310
7 BBCMS Mortgage Trust Series 2022-C14  2.946% 2/15/55        950        800
7 BBCMS Trust Series 2021-C10  2.492% 7/15/54        650        535
7 Benchmark Mortgage Trust Series 2018-B1  3.666% 1/15/51        450        420
7 Benchmark Mortgage Trust Series 2018-B1  3.878% 1/15/51        200        180
7 Benchmark Mortgage Trust Series 2018-B2  3.662% 2/15/51        179        178
7 Benchmark Mortgage Trust Series 2018-B2  3.882% 2/15/51      2,280      2,148
7 Benchmark Mortgage Trust Series 2018-B2  4.084% 2/15/51        625        573
7 Benchmark Mortgage Trust Series 2018-B3  3.848% 4/10/51        108        107
7 Benchmark Mortgage Trust Series 2018-B3  4.025% 4/10/51      1,000        948
7 Benchmark Mortgage Trust Series 2018-B4  4.121% 7/15/51        250        237
7 Benchmark Mortgage Trust Series 2018-B4  4.311% 7/15/51        500        453
7 Benchmark Mortgage Trust Series 2018-B5  4.208% 7/15/51      1,175      1,120
7 Benchmark Mortgage Trust Series 2018-B6  4.261% 10/10/51        450        430
7 Benchmark Mortgage Trust Series 2018-B6  4.441% 10/10/51        125        116
7 Benchmark Mortgage Trust Series 2018-B7  4.510% 5/15/53         25         24
7 Benchmark Mortgage Trust Series 2018-B8  4.232% 1/15/52        435        414
7 Benchmark Mortgage Trust Series 2018-B8  4.532% 1/15/52        200        185
7 Benchmark Mortgage Trust Series 2019-B9  3.751% 3/15/52        100         92
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Benchmark Mortgage Trust Series 2019-B9  4.016% 3/15/52        261        245
7 Benchmark Mortgage Trust Series 2019-B10  3.717% 3/15/62        300        276
7 Benchmark Mortgage Trust Series 2019-B10  3.979% 3/15/62        125        110
7 Benchmark Mortgage Trust Series 2019-B11  3.281% 5/15/52        200        180
7 Benchmark Mortgage Trust Series 2019-B11  3.542% 5/15/52      1,450      1,323
7 Benchmark Mortgage Trust Series 2019-B11  3.784% 5/15/52        310        267
7 Benchmark Mortgage Trust Series 2019-B13  2.952% 8/15/57        300        263
7 Benchmark Mortgage Trust Series 2019-B14  3.049% 12/15/62        225        198
7 Benchmark Mortgage Trust Series 2019-B15  2.928% 12/15/72        265        231
7 Benchmark Mortgage Trust Series 2020-B16  2.732% 2/15/53        375        321
7 Benchmark Mortgage Trust Series 2020-B16  2.944% 2/15/53        100         81
7 Benchmark Mortgage Trust Series 2020-B17  2.211% 3/15/53        175        162
7 Benchmark Mortgage Trust Series 2020-B17  2.289% 3/15/53        850        705
7 Benchmark Mortgage Trust Series 2020-B17  2.583% 3/15/53        105         83
7 Benchmark Mortgage Trust Series 2020-B19  1.850% 9/15/53        212        169
7 Benchmark Mortgage Trust Series 2020-B19  2.148% 9/15/53         75         56
7 Benchmark Mortgage Trust Series 2020-B20  2.034% 10/15/53        425        341
7 Benchmark Mortgage Trust Series 2020-B20  2.375% 10/15/53         35         27
7 Benchmark Mortgage Trust Series 2020-B21  1.978% 12/17/53        525        418
7 Benchmark Mortgage Trust Series 2020-B21  2.254% 12/17/53         50         38
7 Benchmark Mortgage Trust Series 2020-B22  1.973% 1/15/54        400        317
7 Benchmark Mortgage Trust Series 2020-IG1  2.687% 9/15/43        575        473
7 Benchmark Mortgage Trust Series 2020-IG1  2.909% 9/15/43        175        139
7 Benchmark Mortgage Trust Series 2021-B23  2.070% 2/15/54      1,875      1,493
7 Benchmark Mortgage Trust Series 2021-B23  2.274% 2/15/54        275        209
7 Benchmark Mortgage Trust Series 2021-B24  2.584% 3/15/54        500        414
7 Benchmark Mortgage Trust Series 2021-B24  2.780% 3/15/54        100         79
7 Benchmark Mortgage Trust Series 2021-B25  2.577% 4/15/54        550        455
7 Benchmark Mortgage Trust Series 2021-B25  2.847% 4/15/54        250        198
7 Benchmark Mortgage Trust Series 2021-B26  2.613% 6/15/54        575        476
7 Benchmark Mortgage Trust Series 2021-B28  2.224% 8/15/54        350        279
7 Benchmark Mortgage Trust Series 2021-B29  2.284% 9/15/54         75         64
7 Benchmark Mortgage Trust Series 2021-B29  2.388% 9/15/54        225        181
7 Benchmark Mortgage Trust Series 2021-B29  2.612% 9/15/54         75         58
7 Benchmark Mortgage Trust Series 2021-B30  2.576% 11/15/54        925        756
 
37

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Benchmark Mortgage Trust Series 2021-B31  2.669% 12/15/54        500        411
7 Benchmark Mortgage Trust Series 2022-B32  3.002% 1/15/55      1,425      1,201
7 Benchmark Mortgage Trust Series 2022-B32  3.411% 1/15/55        300        243
7 Benchmark Mortgage Trust Series 2022-B33  3.458% 3/15/55        300        265
7 Benchmark Mortgage Trust Series 2022-B34  3.786% 4/15/55        250        225
7 Benchmark Mortgage Trust Series 2022-B36  4.470% 7/15/55        375        356
7 Benchmark Mortgage Trust Series 2022-B36  4.951% 7/15/55        100         93
7 BMO Mortgage Trust Series 2022-C1  3.374% 2/17/55        275        238
7 BMO Mortgage Trust Series 2022-C2  4.813% 7/15/54        300        294
7 BMO Mortgage Trust Series 2022-C3  5.313% 9/15/54        900        904
7 BMO Mortgage Trust Series 2022-C3  5.326% 9/15/54        125        120
7 BMW Vehicle Lease Trust Series 2021-1  0.290% 1/25/24         98         97
7 BMW Vehicle Lease Trust Series 2021-1  0.370% 7/25/24         75         73
7 BMW Vehicle Lease Trust Series 2021-2  0.330% 12/26/24      1,121      1,096
7 BMW Vehicle Lease Trust Series 2021-2  0.430% 1/27/25        800        763
7 BMW Vehicle Lease Trust Series 2022-1  1.230% 5/27/25        100         95
7 BMW Vehicle Owner Trust Series 2020-A  0.480% 10/25/24         27         27
7 BMW Vehicle Owner Trust Series 2020-A  0.620% 4/26/27         25         24
7 BMW Vehicle Owner Trust Series 2022-A  3.210% 8/25/26        175        171
7 BMW Vehicle Owner Trust Series 2022-A  3.440% 12/26/28         25         24
7 Cantor Commercial Real Estate Lending Series 2019-CF1  3.786% 5/15/52         65         59
7 Cantor Commercial Real Estate Lending Series 2019-CF2  2.874% 11/15/52        550        464
7 Cantor Commercial Real Estate Lending Series 2019-CF3  3.006% 1/15/53        560        475
7 Cantor Commercial Real Estate Lending Series 2019-CF3  3.298% 1/15/53        240        196
7 Capital One Multi-Asset Execution Trust Series 2019-A3  2.060% 8/15/28      1,300      1,186
7 Capital One Multi-Asset Execution Trust Series 2021-A1  0.550% 7/15/26        850        796
7 Capital One Multi-Asset Execution Trust Series 2021-A2  1.390% 7/15/30      2,175      1,812
7 Capital One Multi-Asset Execution Trust Series 2021-A3  1.040% 11/15/26      1,875      1,751
7 Capital One Multi-Asset Execution Trust Series 2022-A1  2.800% 3/15/27      2,000      1,918
7 Capital One Multi-Asset Execution Trust Series 2022-A2  3.490% 5/15/27      1,900      1,848
7 Capital One Prime Auto Receivables Trust Series 2019-1  2.560% 10/15/24         98         97
7 Capital One Prime Auto Receivables Trust Series 2020-1  1.630% 8/15/25         50         49
7 Capital One Prime Auto Receivables Trust Series 2021-1  0.770% 9/15/26        400        376
7 Capital One Prime Auto Receivables Trust Series 2021-1  1.040% 4/15/27        100         91
7 Capital One Prime Auto Receivables Trust Series 2022-1  3.170% 4/15/27        375        361
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Capital One Prime Auto Receivables Trust Series 2022-1  3.320% 9/15/27        225        213
7 Capital One Prime Auto Receivables Trust Series 2022-2  3.660% 5/17/27        350        342
7 Capital One Prime Auto Receivables Trust Series 2022-2  3.690% 12/15/27        100         96
7 CarMax Auto Owner Trust Series 2019-3  2.180% 8/15/24         37         37
7 CarMax Auto Owner Trust Series 2019-4  2.130% 7/15/25        100         97
7 CarMax Auto Owner Trust Series 2020-1  1.890% 12/16/24        122        121
7 CarMax Auto Owner Trust Series 2020-1  2.030% 6/16/25         55         53
7 CarMax Auto Owner Trust Series 2020-3  0.620% 3/17/25         39         38
7 CarMax Auto Owner Trust Series 2020-3  0.770% 3/16/26         25         24
7 CarMax Auto Owner Trust Series 2020-4  0.500% 8/15/25      1,237      1,203
7 CarMax Auto Owner Trust Series 2020-4  0.630% 6/15/26         75         70
7 CarMax Auto Owner Trust Series 2020-4  0.850% 6/15/26         25         23
7 CarMax Auto Owner Trust Series 2021-1  0.340% 12/15/25        186        179
7 CarMax Auto Owner Trust Series 2021-1  0.530% 10/15/26         50         46
7 CarMax Auto Owner Trust Series 2021-2  0.520% 2/17/26        458        440
7 CarMax Auto Owner Trust Series 2021-2  0.810% 12/15/26        100         91
7 CarMax Auto Owner Trust Series 2021-4  0.560% 9/15/26        500        473
7 CarMax Auto Owner Trust Series 2021-4  0.820% 4/15/27        100         89
7 CarMax Auto Owner Trust Series 2022-1  1.470% 12/15/26        475        451
7 CarMax Auto Owner Trust Series 2022-1  1.700% 8/16/27        175        159
7 CarMax Auto Owner Trust Series 2022-2  3.490% 2/16/27        450        438
7 CarMax Auto Owner Trust Series 2022-2  3.620% 9/15/27        100         96
7 Carvana Auto Receivables Trust Series 2021-P2  0.490% 3/10/26         89         85
7 Carvana Auto Receivables Trust Series 2021-P3  0.700% 11/10/26        300        279
7 Carvana Auto Receivables Trust Series 2021-P3  1.030% 6/10/27         75         65
7 CD Mortgage Trust Series 2016-CD1  2.724% 8/10/49        625        567
7 CD Mortgage Trust Series 2016-CD2  3.526% 11/10/49        600        558
7 CD Mortgage Trust Series 2017-CD3  3.453% 2/10/50         53         51
7 CD Mortgage Trust Series 2017-CD3  3.631% 2/10/50        503        468
7 CD Mortgage Trust Series 2017-CD3  3.833% 2/10/50        131        119
7 CD Mortgage Trust Series 2017-CD4  3.514% 5/10/50        500        463
7 CD Mortgage Trust Series 2017-CD4  3.747% 5/10/50        300        270
7 CD Mortgage Trust Series 2017-CD6  3.332% 11/13/50        246        232
7 CD Mortgage Trust Series 2017-CD6  3.456% 11/13/50        475        434
7 CD Mortgage Trust Series 2017-CD6  3.709% 11/13/50        275        245
 
38

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 CD Mortgage Trust Series 2018-CD7  4.213% 8/15/51         30         29
7 CD Mortgage Trust Series 2018-CD7  4.279% 8/15/51        575        542
7 CD Mortgage Trust Series 2019-CD8  2.657% 8/15/57        200        173
7 CD Mortgage Trust Series 2019-CD8  2.912% 8/15/57        775        661
7 CenterPoint Energy Transition Bond Co. IV LLC Series 2012-1  3.028% 10/15/25        373        365
7 CFCRE Commercial Mortgage Trust Series 2016-C3  3.865% 1/10/48        425        403
7 CFCRE Commercial Mortgage Trust Series 2016-C4  3.283% 5/10/58        550        510
7 CFCRE Commercial Mortgage Trust Series 2016-C4  3.691% 5/10/58        400        367
7 CFCRE Commercial Mortgage Trust Series 2016-C6  3.217% 11/10/49      1,350      1,239
7 CFCRE Commercial Mortgage Trust Series 2017-C8  3.572% 6/15/50        300        276
7 CGMS Commercial Mortgage Trust Series 2017-B1  3.458% 8/15/50        800        732
7 CGMS Commercial Mortgage Trust Series 2017-B1  3.711% 8/15/50        200        180
7 Chase Issuance Trust Series 2022-A1  3.970% 9/15/27        300        292
7 Citibank Credit Card Issuance Trust Series 2007-A3  6.150% 6/15/39        391        430
7 Citibank Credit Card Issuance Trust Series 2018-A7  3.960% 10/13/30      1,000        963
7 Citigroup Commercial Mortgage Trust Series 2013-GC11  3.093% 4/10/46         83         83
7 Citigroup Commercial Mortgage Trust Series 2013-GC11  3.422% 4/10/46        100         99
7 Citigroup Commercial Mortgage Trust Series 2013-GC15  4.371% 9/10/46        250        247
7 Citigroup Commercial Mortgage Trust Series 2013-GC15  4.649% 9/10/46        350        345
7 Citigroup Commercial Mortgage Trust Series 2013-GC17  3.675% 11/10/46         12         12
7 Citigroup Commercial Mortgage Trust Series 2013-GC17  4.131% 11/10/46        275        271
7 Citigroup Commercial Mortgage Trust Series 2013-GC17  4.544% 11/10/46        100         98
7 Citigroup Commercial Mortgage Trust Series 2013-GC17  5.095% 11/10/46        100         98
7 Citigroup Commercial Mortgage Trust Series 2014-GC19  3.552% 3/11/47         16         16
7 Citigroup Commercial Mortgage Trust Series 2014-GC19  4.023% 3/11/47        125        123
7 Citigroup Commercial Mortgage Trust Series 2014-GC19  4.345% 3/11/47        125        122
7 Citigroup Commercial Mortgage Trust Series 2014-GC21  3.855% 5/10/47        200        195
7 Citigroup Commercial Mortgage Trust Series 2014-GC21  4.328% 5/10/47        150        143
7 Citigroup Commercial Mortgage Trust Series 2014-GC23  3.622% 7/10/47        300        289
7 Citigroup Commercial Mortgage Trust Series 2014-GC25  3.635% 10/10/47        650        626
7 Citigroup Commercial Mortgage Trust Series 2015-GC27  3.137% 2/10/48        800        760
7 Citigroup Commercial Mortgage Trust Series 2015-GC27  3.571% 2/10/48        325        304
7 Citigroup Commercial Mortgage Trust Series 2015-GC29  3.192% 4/10/48        650        613
7 Citigroup Commercial Mortgage Trust Series 2015-GC29  3.758% 4/10/48        318        291
7 Citigroup Commercial Mortgage Trust Series 2015-GC31  3.762% 6/10/48        350        333
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Citigroup Commercial Mortgage Trust Series 2015-GC33  3.515% 9/10/58        186        177
7 Citigroup Commercial Mortgage Trust Series 2015-GC33  3.778% 9/10/58        425        404
7 Citigroup Commercial Mortgage Trust Series 2015-GC35  3.549% 11/10/48        200        190
7 Citigroup Commercial Mortgage Trust Series 2016-C1  3.003% 5/10/49        148        142
7 Citigroup Commercial Mortgage Trust Series 2016-C1  3.209% 5/10/49        425        395
7 Citigroup Commercial Mortgage Trust Series 2016-GC36  3.349% 2/10/49        175        165
7 Citigroup Commercial Mortgage Trust Series 2016-GC36  3.616% 2/10/49      2,100      1,977
7 Citigroup Commercial Mortgage Trust Series 2016-P4  2.646% 7/10/49        250        230
7 Citigroup Commercial Mortgage Trust Series 2016-P4  2.902% 7/10/49        250        229
7 Citigroup Commercial Mortgage Trust Series 2017-C4  3.209% 10/12/50        100         93
7 Citigroup Commercial Mortgage Trust Series 2017-C4  3.471% 10/12/50      1,100      1,005
7 Citigroup Commercial Mortgage Trust Series 2017-C4  3.764% 10/12/50        150        134
7 Citigroup Commercial Mortgage Trust Series 2018-B2  3.744% 3/10/51        175        161
7 Citigroup Commercial Mortgage Trust Series 2018-B2  3.788% 3/10/51        150        149
7 Citigroup Commercial Mortgage Trust Series 2018-B2  4.009% 3/10/51      1,200      1,123
7 Citigroup Commercial Mortgage Trust Series 2018-C5  3.963% 6/10/51        140        130
7 Citigroup Commercial Mortgage Trust Series 2019-C7  3.102% 12/15/72        675        580
7 Citigroup Commercial Mortgage Trust Series 2019-GC41  2.869% 8/10/56        975        833
7 Citigroup Commercial Mortgage Trust Series 2019-GC43  3.038% 11/10/52      1,125        968
7 Citigroup Commercial Mortgage Trust Series 2020-GC46  2.717% 2/15/53        450        379
7 Citigroup Commercial Mortgage Trust Series 2020-GC46  2.918% 2/15/53        190        152
7 Citigroup Commercial Mortgage Trust Series 2022-GC48  4.580% 5/15/54        475        457
7 CNH Equipment Trust Series 2021-C  0.810% 12/15/26        275        259
7 CNH Equipment Trust Series 2022-A  2.940% 7/15/27        175        168
7 CNH Equipment Trust Series 2022-A  3.030% 3/15/29        100         93
7 CNH Equipment Trust Series 2022-B  3.890% 8/16/27        100         96
7 CNH Equipment Trust Series 2022-B  3.910% 3/15/28         50         48
7 COMM Mortgage Trust Series 2012-CR4  2.853% 10/15/45         32         30
7 COMM Mortgage Trust Series 2013-CR8  3.612% 6/10/46        227        226
7 COMM Mortgage Trust Series 2013-CR11  3.983% 8/10/50        259        256
7 COMM Mortgage Trust Series 2013-CR11  4.715% 8/10/50        200        198
7 COMM Mortgage Trust Series 2013-CR12  3.765% 10/10/46        152        151
7 COMM Mortgage Trust Series 2013-CR12  4.300% 10/10/46         75         70
7 COMM Mortgage Trust Series 2013-CR12  4.762% 10/10/46         50         42
7 COMM Mortgage Trust Series 2013-CR13  4.194% 11/10/46        450        444
 
39

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 COMM Mortgage Trust Series 2013-CR13  4.449% 11/10/46        150        147
7 COMM Mortgage Trust Series 2013-LC6  4.242% 1/10/46         60         60
7 COMM Mortgage Trust Series 2013-LC13  4.205% 8/10/46        209        207
7 COMM Mortgage Trust Series 2014-CR14  3.147% 2/10/47         90         90
7 COMM Mortgage Trust Series 2014-CR14  4.236% 2/10/47        275        270
7 COMM Mortgage Trust Series 2014-CR14  4.526% 2/10/47        325        317
7 COMM Mortgage Trust Series 2014-CR14  4.590% 2/10/47        175        169
7 COMM Mortgage Trust Series 2014-CR15  3.595% 2/10/47         28         28
7 COMM Mortgage Trust Series 2014-CR15  4.074% 2/10/47        209        205
7 COMM Mortgage Trust Series 2014-CR15  4.623% 2/10/47        105        102
7 COMM Mortgage Trust Series 2014-CR15  4.673% 2/10/47        175        168
7 COMM Mortgage Trust Series 2014-CR17  3.598% 5/10/47         24         24
7 COMM Mortgage Trust Series 2014-CR17  3.977% 5/10/47        275        268
7 COMM Mortgage Trust Series 2014-CR17  4.377% 5/10/47        100         95
7 COMM Mortgage Trust Series 2014-CR18  3.452% 7/15/47         23         22
7 COMM Mortgage Trust Series 2014-CR18  3.828% 7/15/47        125        121
7 COMM Mortgage Trust Series 2014-CR18  4.103% 7/15/47        150        144
7 COMM Mortgage Trust Series 2014-CR19  3.796% 8/10/47        650        628
7 COMM Mortgage Trust Series 2014-CR19  4.080% 8/10/47        150        143
7 COMM Mortgage Trust Series 2014-CR20  3.590% 11/10/47        275        265
7 COMM Mortgage Trust Series 2014-CR21  3.528% 12/10/47      3,665      3,533
7 COMM Mortgage Trust Series 2014-LC15  4.006% 4/10/47        325        318
7 COMM Mortgage Trust Series 2014-LC17  3.917% 10/10/47        240        231
7 COMM Mortgage Trust Series 2014-UBS2  3.472% 3/10/47         18         18
7 COMM Mortgage Trust Series 2014-UBS2  3.961% 3/10/47        202        197
7 COMM Mortgage Trust Series 2014-UBS2  4.199% 3/10/47         57         55
7 COMM Mortgage Trust Series 2014-UBS2  4.701% 3/10/47         36         35
7 COMM Mortgage Trust Series 2014-UBS3  3.819% 6/10/47        350        338
7 COMM Mortgage Trust Series 2014-UBS4  3.694% 8/10/47        225        217
7 COMM Mortgage Trust Series 2014-UBS4  3.968% 8/10/47        167        160
7 COMM Mortgage Trust Series 2014-UBS5  3.838% 9/10/47        500        483
7 COMM Mortgage Trust Series 2014-UBS6  3.387% 12/10/47        162        158
7 COMM Mortgage Trust Series 2014-UBS6  3.644% 12/10/47        800        770
7 COMM Mortgage Trust Series 2014-UBS6  4.048% 12/10/47        225        214
7 COMM Mortgage Trust Series 2015-CR22  3.309% 3/10/48        575        546
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 COMM Mortgage Trust Series 2015-CR22  3.603% 3/10/48        500        468
7 COMM Mortgage Trust Series 2015-CR23  3.257% 5/10/48        113        110
7 COMM Mortgage Trust Series 2015-CR23  3.497% 5/10/48        475        450
7 COMM Mortgage Trust Series 2015-CR23  3.801% 5/10/48        175        165
7 COMM Mortgage Trust Series 2015-CR24  3.432% 8/10/48        318        301
7 COMM Mortgage Trust Series 2015-CR25  3.759% 8/10/48        425        406
7 COMM Mortgage Trust Series 2015-CR26  3.630% 10/10/48        850        805
7 COMM Mortgage Trust Series 2015-CR27  3.404% 10/10/48        231        223
7 COMM Mortgage Trust Series 2015-CR27  3.612% 10/10/48        400        381
7 COMM Mortgage Trust Series 2015-DC1  3.350% 2/10/48        325        310
7 COMM Mortgage Trust Series 2015-LC19  3.040% 2/10/48         29         28
7 COMM Mortgage Trust Series 2015-LC19  3.183% 2/10/48        425        403
7 COMM Mortgage Trust Series 2015-LC19  3.527% 2/10/48        200        187
7 COMM Mortgage Trust Series 2015-LC23  3.774% 10/10/48        200        190
7 COMM Mortgage Trust Series 2015-PC1  3.902% 7/10/50        450        429
7 COMM Mortgage Trust Series 2016-CR28  3.762% 2/10/49      1,200      1,137
7 COMM Mortgage Trust Series 2016-DC2  3.550% 2/10/49        303        295
7 COMM Mortgage Trust Series 2017-COR2  3.510% 9/10/50        125        115
7 COMM Mortgage Trust Series 2018-COR3  4.228% 5/10/51        500        471
7 COMM Mortgage Trust Series 2019-GC44  2.950% 8/15/57        450        384
7 COMM Mortgage Trust Series 2019-GC44  3.263% 8/15/57        150        128
7 CSAIL Commercial Mortgage Trust Series 2015-C1  3.505% 4/15/50        400        381
7 CSAIL Commercial Mortgage Trust Series 2015-C1  3.791% 4/15/50        200        186
7 CSAIL Commercial Mortgage Trust Series 2015-C1  4.044% 4/15/50        175        161
7 CSAIL Commercial Mortgage Trust Series 2015-C2  3.504% 6/15/57        550        521
7 CSAIL Commercial Mortgage Trust Series 2015-C2  3.849% 6/15/57        225        211
7 CSAIL Commercial Mortgage Trust Series 2015-C3  3.448% 8/15/48        154        150
7 CSAIL Commercial Mortgage Trust Series 2015-C3  3.718% 8/15/48        925        881
7 CSAIL Commercial Mortgage Trust Series 2015-C3  4.109% 8/15/48        200        182
7 CSAIL Commercial Mortgage Trust Series 2015-C4  3.617% 11/15/48        111        109
7 CSAIL Commercial Mortgage Trust Series 2015-C4  3.808% 11/15/48        500        476
7 CSAIL Commercial Mortgage Trust Series 2016-C7  3.502% 11/15/49        800        742
7 CSAIL Commercial Mortgage Trust Series 2017-C8  3.392% 6/15/50        800        730
7 CSAIL Commercial Mortgage Trust Series 2017-CX9  3.446% 9/15/50        250        229
7 CSAIL Commercial Mortgage Trust Series 2017-CX10  3.458% 11/15/50        575        521
 
40

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 CSAIL Commercial Mortgage Trust Series 2018-CX11  4.033% 4/15/51      1,200      1,117
7 CSAIL Commercial Mortgage Trust Series 2018-CX12  4.224% 8/15/51        250        235
7 CSAIL Commercial Mortgage Trust Series 2019-C15  4.053% 3/15/52      2,475      2,285
7 CSAIL Commercial Mortgage Trust Series 2019-C16  3.329% 6/15/52      1,125        996
7 CSAIL Commercial Mortgage Trust Series 2021-C20  2.805% 3/15/54      1,075        891
7 CSAIL Commercial Mortgage Trust Series 2021-C20  3.076% 3/15/54        175        142
7 Daimler Trucks Retail Trust Series 2022-1  5.230% 2/17/26        250        249
7 Daimler Trucks Retail Trust Series 2022-1  5.390% 1/15/30        100        100
7 DBGS Mortgage Trust Series 2018-C1  4.466% 10/15/51        400        381
7 DBJPM Mortgage Trust Series 2016-C1  3.276% 5/10/49        300        281
7 DBJPM Mortgage Trust Series 2016-C3  2.890% 8/10/49        325        297
7 DBJPM Mortgage Trust Series 2017-C6  3.328% 6/10/50        600        548
7 DBJPM Mortgage Trust Series 2017-C6  3.561% 6/10/50        150        134
7 DBJPM Mortgage Trust Series 2020-C9  1.926% 8/15/53        200        161
7 Discover Card Execution Note Trust Series 2021-A1  0.580% 9/15/26        850        791
7 Discover Card Execution Note Trust Series 2021-A2  1.030% 9/15/28        725        632
7 Discover Card Execution Note Trust Series 2022-A1  1.960% 2/15/27      1,000        939
7 Discover Card Execution Note Trust Series 2022-A2  3.320% 5/15/27      1,900      1,832
7 Discover Card Execution Note Trust Series 2022-A3  3.560% 7/15/27      2,000      1,938
7 Discover Card Execution Note Trust Series 2022-A4  5.030% 10/15/27      1,075      1,085
7 Drive Auto Receivables Trust Series 2019-1  4.090% 6/15/26        195        195
7 Drive Auto Receivables Trust Series 2021-1  0.650% 7/15/25          4          4
7 Drive Auto Receivables Trust Series 2021-1  1.020% 6/15/27        100         98
7 Drive Auto Receivables Trust Series 2021-2  0.580% 12/15/25        258        255
7 Drive Auto Receivables Trust Series 2021-2  0.870% 10/15/27        250        241
7 Drive Auto Receivables Trust Series 2021-2  1.390% 3/15/29        225        210
7 Drive Auto Receivables Trust Series 2021-3  1.110% 5/15/26         75         73
7 Drive Auto Receivables Trust Series 2021-3  1.470% 1/15/27        100         96
7 Exeter Automobile Receivables Trust Series 2020-3A  1.320% 7/15/25        160        158
7 Exeter Automobile Receivables Trust Series 2021-1A  0.740% 1/15/26        282        278
7 Exeter Automobile Receivables Trust Series 2021-3A  0.690% 1/15/26        162        159
7 Exeter Automobile Receivables Trust Series 2021-3A  0.960% 10/15/26        175        166
7 Exeter Automobile Receivables Trust Series 2021-3A  1.550% 6/15/27        175        159
7 Exeter Automobile Receivables Trust Series 2022-1A  2.560% 6/15/28        125        119
7 Exeter Automobile Receivables Trust Series 2022-1A  3.020% 6/15/28        150        139
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Exeter Automobile Receivables Trust Series 2022-2A  3.650% 10/15/26        100         98
7 Exeter Automobile Receivables Trust Series 2022-2A  3.850% 7/17/28        200        192
7 Exeter Automobile Receivables Trust Series 2022-2A  4.560% 7/17/28        100         95
7 Exeter Automobile Receivables Trust Series 2022-3A  4.860% 12/15/26        150        147
7 Exeter Automobile Receivables Trust Series 2022-3A  5.300% 9/15/27        150        147
7 Exeter Automobile Receivables Trust Series 2022-3A  6.760% 9/15/28        100         97
7 Exeter Automobile Receivables Trust Series 2022-4A  4.920% 12/15/28        125        120
7 Exeter Automobile Receivables Trust Series 2022-5A  6.510% 12/15/27        100        101
7 Exeter Automobile Receivables Trust Series 2022-5A  7.400% 2/15/29        100         99
7,8 Fannie Mae-Aces Series 2013-M12  2.491% 3/25/23         92         92
7,8 Fannie Mae-Aces Series 2014-M1  3.298% 7/25/23        305        302
7,8 Fannie Mae-Aces Series 2014-M3  3.501% 1/25/24        115        113
7,8 Fannie Mae-Aces Series 2014-M4  3.346% 3/25/24        283        277
7,8 Fannie Mae-Aces Series 2014-M7  3.212% 6/25/24        626        611
7,8 Fannie Mae-Aces Series 2014-M8  3.056% 6/25/24        260        252
7,8 Fannie Mae-Aces Series 2014-M9  3.103% 7/25/24        408        396
7,8 Fannie Mae-Aces Series 2014-M13  3.021% 8/25/24        241        233
7,8 Fannie Mae-Aces Series 2015-M1  2.532% 9/25/24        723        694
7,8 Fannie Mae-Aces Series 2015-M2  2.620% 12/25/24        517        496
7,8 Fannie Mae-Aces Series 2015-M3  2.723% 10/25/24        274        263
7,8 Fannie Mae-Aces Series 2015-M7  2.590% 12/25/24        496        474
7,8 Fannie Mae-Aces Series 2015-M8  2.900% 1/25/25        721        693
7,8 Fannie Mae-Aces Series 2015-M10  3.092% 4/25/27        244        230
7,8 Fannie Mae-Aces Series 2015-M12  2.802% 5/25/25        553        528
7,8 Fannie Mae-Aces Series 2015-M15  2.923% 10/25/25        521        497
7,8 Fannie Mae-Aces Series 2016-M3  2.702% 2/25/26        324        307
7,8 Fannie Mae-Aces Series 2016-M4  2.576% 3/25/26        340        320
7,8 Fannie Mae-Aces Series 2016-M5  2.469% 4/25/26        800        747
7,8 Fannie Mae-Aces Series 2016-M6  2.488% 5/25/26        529        494
7,8 Fannie Mae-Aces Series 2016-M7  2.157% 10/25/23         28         28
7,8 Fannie Mae-Aces Series 2016-M7  2.499% 9/25/26        174        163
7,8 Fannie Mae-Aces Series 2016-M9  2.292% 6/25/26      1,299      1,206
7,8 Fannie Mae-Aces Series 2016-M11  2.369% 7/25/26        862        799
7,8 Fannie Mae-Aces Series 2016-M12  2.451% 9/25/26        917        852
7,8 Fannie Mae-Aces Series 2016-M13  2.510% 9/25/26        194        180
7,8 Fannie Mae-Aces Series 2017-M1  2.414% 10/25/26        941        871
7,8 Fannie Mae-Aces Series 2017-M2  2.759% 2/25/27        870        814
7,8 Fannie Mae-Aces Series 2017-M3  2.471% 12/25/26      1,136      1,051
7,8 Fannie Mae-Aces Series 2017-M4  2.555% 12/25/26        852        790
7,8 Fannie Mae-Aces Series 2017-M5  3.099% 4/25/29        245        227
7,8 Fannie Mae-Aces Series 2017-M7  2.961% 2/25/27        607        571
7,8 Fannie Mae-Aces Series 2017-M8  3.061% 5/25/27      1,390      1,309
7,8 Fannie Mae-Aces Series 2017-M10  2.540% 7/25/24        357        345
7,8 Fannie Mae-Aces Series 2017-M11  2.980% 8/25/29        500        457
7,8 Fannie Mae-Aces Series 2017-M12  3.062% 6/25/27        864        812
7,8 Fannie Mae-Aces Series 2017-M14  2.866% 11/25/27        346        320
7,8 Fannie Mae-Aces Series 2017-M15  3.158% 11/25/27        985        926
 
41

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 Fannie Mae-Aces Series 2018-M1  2.993% 12/25/27        414        386
7,8 Fannie Mae-Aces Series 2018-M2  2.905% 1/25/28      1,359      1,267
7,8 Fannie Mae-Aces Series 2018-M3  3.069% 2/25/30        286        264
7,8 Fannie Mae-Aces Series 2018-M4  3.056% 3/25/28        645        604
7,8 Fannie Mae-Aces Series 2018-M7  3.033% 3/25/28        369        344
7,8 Fannie Mae-Aces Series 2018-M10  3.358% 7/25/28        200        188
7,8 Fannie Mae-Aces Series 2018-M12  3.631% 8/25/30        850        802
7,8 Fannie Mae-Aces Series 2018-M13  3.744% 9/25/30        671        635
7,8 Fannie Mae-Aces Series 2018-M14  3.581% 8/25/28        670        637
7,8 Fannie Mae-Aces Series 2019-M1  3.547% 9/25/28        674        640
7,8 Fannie Mae-Aces Series 2019-M2  3.626% 11/25/28        807        768
7,8 Fannie Mae-Aces Series 2019-M4  3.610% 2/25/31        900        828
7,8 Fannie Mae-Aces Series 2019-M5  3.273% 2/25/29        775        720
7,8 Fannie Mae-Aces Series 2019-M7  3.143% 4/25/29        828        762
7,8 Fannie Mae-Aces Series 2019-M9  2.937% 6/25/29      1,603      1,467
7,8 Fannie Mae-Aces Series 2019-M12  2.885% 6/25/29      2,725      2,465
7,8 Fannie Mae-Aces Series 2019-M18  2.469% 8/25/29        982        868
7,8 Fannie Mae-Aces Series 2019-M18  2.577% 9/25/31      2,100      1,807
7,8 Fannie Mae-Aces Series 2019-M21  2.350% 2/25/31        125        109
7,8 Fannie Mae-Aces Series 2019-M22  2.522% 8/25/29      1,352      1,194
7,8 Fannie Mae-Aces Series 2019-M25  2.330% 11/25/29        200        174
7,8 Fannie Mae-Aces Series 2020-M1  2.444% 10/25/29        815        711
7,8 Fannie Mae-Aces Series 2020-M5  2.210% 1/25/30        503        432
7,8 Fannie Mae-Aces Series 2020-M14  1.784% 5/25/30        300        247
7,8 Fannie Mae-Aces Series 2020-M29  1.492% 5/25/30        350        281
7,8 Fannie Mae-Aces Series 2020-M42  1.270% 7/25/30      1,150        903
7,8 Fannie Mae-Aces Series 2020-M46  1.323% 5/25/30        900        723
7,8 Fannie Mae-Aces Series 2020-M52  1.317% 10/25/30        975        765
7,8 Fannie Mae-Aces Series 2021-M1  1.390% 11/25/30        725        568
7,8 Fannie Mae-Aces Series 2021-M1G  1.467% 11/25/30        225        179
7,8 Fannie Mae-Aces Series 2021-M3G  1.246% 1/25/31      1,050        821
7,8 Fannie Mae-Aces Series 2021-M4  1.465% 2/25/31      4,275      3,348
7,8 Fannie Mae-Aces Series 2021-M11  1.459% 3/25/31      1,900      1,480
7,8 Fannie Mae-Aces Series 2021-M13  1.602% 4/25/31        215        169
7,8 Fannie Mae-Aces Series 2021-M13  1.626% 3/25/33        200        154
7,8 Fannie Mae-Aces Series 2021-M19  1.739% 10/25/31      1,250        986
7,8 Fannie Mae-Aces Series 2022-M1  1.669% 10/25/31      1,500      1,172
7,8 Fannie Mae-Aces Series 2022-M1G  1.532% 9/25/31        325        257
7,8 Fannie Mae-Aces Series 2022-M3  1.707% 11/25/31        450        352
7,8 Fannie Mae-Aces Series 2022-M4  2.290% 5/25/30        750        647
7,8 Fannie Mae-Aces Series 2022-M8  1.937% 12/25/31        725        578
7,8 Fannie Mae-Aces Series 2022-M10  1.938% 1/25/32      1,100        876
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K036  3.527% 10/25/23      1,375      1,356
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K037  3.490% 1/25/24         50         49
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K038  2.604% 10/25/23          1          1
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K038  3.389% 3/25/24      1,275      1,251
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K039  2.683% 12/25/23         30         29
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K039  3.303% 7/25/24        850        829
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K040  2.768% 4/25/24        138        136
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K040  3.241% 9/25/24      1,025        998
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K041  3.171% 10/25/24      1,000        972
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K042  2.267% 6/25/24         49         48
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K042  2.670% 12/25/24      2,375      2,278
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K043  2.532% 10/25/23         34         33
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K043  3.062% 12/25/24        600        581
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K045  3.023% 1/25/25        616        595
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K046  3.205% 3/25/25        650        629
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K047  2.827% 12/25/24         49         48
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K047  3.329% 5/25/25        525        508
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K048  3.284% 6/25/25      1,025        991
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K049  3.010% 7/25/25        450        432
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K050  3.334% 8/25/25        750        725
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K052  3.151% 11/25/25        450        432
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K053  2.995% 12/25/25        275        263
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K054  2.745% 1/25/26        700        664
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K055  2.673% 3/25/26      1,000        944
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K056  2.525% 5/25/26        575        539
 
42

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K057  2.570% 7/25/26      1,025        960
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K058  2.653% 8/25/26        500        468
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K059  3.120% 9/25/26        800        761
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K060  3.300% 10/25/26      1,000        956
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K061  3.347% 11/25/26      2,000      1,916
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K062  3.413% 12/25/26      2,400      2,301
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K063  3.430% 1/25/27      1,775      1,703
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K064  3.224% 3/25/27      1,300      1,237
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K065  3.243% 4/25/27        915        870
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K066  3.117% 6/25/27        600        567
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K067  3.194% 7/25/27        875        829
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K068  3.244% 8/25/27        500        474
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K069  3.187% 9/25/27        875        828
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K070  3.303% 11/25/27        275        261
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K071  3.286% 11/25/27        960        911
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K072  3.444% 12/25/27        450        430
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K073  3.350% 1/25/28        500        475
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K074  3.600% 1/25/28      1,000        962
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K075  3.650% 2/25/28        675        650
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K076  3.900% 4/25/28      2,575      2,508
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K078  3.854% 6/25/28        500        485
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K079  3.926% 6/25/28      1,000        973
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K080  3.736% 4/25/28        259        252
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K080  3.926% 7/25/28        800        778
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K081  3.900% 8/25/28      1,200      1,164
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K082  3.920% 9/25/28        550        534
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K083  4.050% 9/25/28      3,425      3,344
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K084  3.780% 10/25/28      2,400      2,303
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K085  4.060% 10/25/28      1,025        998
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K087  3.591% 10/25/27         85         82
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K087  3.771% 12/25/28        800        769
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K088  3.690% 1/25/29      1,175      1,124
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K089  3.563% 1/25/29        475        451
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K090  3.422% 2/25/29        900        847
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K091  3.505% 3/25/29        300        284
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K092  3.298% 4/25/29        975        910
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K093  2.982% 5/25/29      1,650      1,512
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K094  2.903% 6/25/29      1,150      1,047
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K095  2.785% 6/25/29      1,150      1,039
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K096  2.519% 7/25/29      1,000        888
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K098  2.425% 8/25/29      1,850      1,631
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K099  2.595% 9/25/29        850        757
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K101  2.524% 10/25/29      1,500      1,326
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K102  2.537% 10/25/29      1,400      1,239
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K103  2.651% 11/25/29      1,100        980
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K104  2.253% 1/25/30      1,835      1,589
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K105  1.872% 1/25/30        990        833
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K108  1.517% 3/25/30        600        491
 
43

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K109  1.558% 4/25/30      1,000        818
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K110  1.477% 4/25/30        225        183
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K111  1.350% 5/25/30        550        442
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K113  1.341% 6/25/30        500        401
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K114  1.366% 6/25/30        700        560
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K116  1.378% 7/25/30      1,250      1,000
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K117  1.406% 8/25/30      1,200        960
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K118  1.493% 9/25/30      1,600      1,285
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K120  1.500% 10/25/30      1,100        881
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K121  0.995% 8/25/30        118         99
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K121  1.547% 10/25/30        700        563
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K122  0.863% 5/25/30         48         41
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K122  1.521% 11/25/30        700        561
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K123  1.621% 12/25/30      2,150      1,735
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K124  1.658% 12/25/30      1,225        989
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K125  1.846% 1/25/31        875        717
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K126  2.074% 1/25/31      1,075        897
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K127  2.108% 1/25/31        600        502
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K128  2.020% 3/25/31      1,115        925
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K129  1.342% 9/25/30        223        185
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K129  1.914% 5/25/31      1,800      1,477
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K130  1.723% 6/25/31        700        564
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K131  1.853% 7/25/31      5,750      4,675
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K132  2.023% 8/25/31        500        410
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K133  2.096% 9/25/31        900        743
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K134  1.714% 7/25/31         99         84
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K134  2.243% 10/25/31        850        710
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K135  2.154% 10/25/31        550        456
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K138  2.476% 1/25/32        725        615
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K140  2.250% 1/25/32        550        457
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K143  2.350% 3/25/32      2,050      1,716
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K143  2.711% 4/25/55        100         88
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K148  3.500% 7/25/32        500        462
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K152  3.080% 1/25/31        400        365
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K153  3.294% 3/25/29      1,600      1,491
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K153  3.117% 10/25/31        900        805
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K154  3.424% 4/25/32        250        232
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K154  3.459% 11/25/32        400        360
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K155  3.750% 11/25/32        400        376
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K155  3.750% 4/25/33        850        786
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K157  3.990% 5/25/33        275        267
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K157  3.990% 8/25/33        375        351
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K158  3.900% 12/25/30        300        284
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K159  3.950% 11/25/30        300        284
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K723  2.454% 8/25/23        459        453
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K724  3.062% 11/25/23        926        911
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K725  3.002% 1/25/24      1,171      1,147
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K726  2.905% 4/25/24        552        537
 
44

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K727  2.946% 7/25/24      1,295      1,257
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K728  3.064% 8/25/24      1,145      1,114
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K729  3.136% 10/25/24      2,000      1,940
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K730  3.590% 1/25/25      1,157      1,128
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K731  3.600% 2/25/25        988        963
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K732  3.700% 5/25/25      1,000        975
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K734  3.208% 2/25/26      1,565      1,502
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K735  2.862% 5/25/26      1,989      1,883
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K737  2.525% 10/25/26      1,700      1,579
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K739  1.336% 9/25/27      1,850      1,612
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K741  1.603% 12/25/27      1,725      1,505
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K742  1.760% 3/25/28        850        744
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K743  1.770% 5/25/28        550        478
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K744  1.712% 7/25/28        418        363
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K745  1.657% 8/25/28      1,100        944
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K746  2.031% 9/25/28        725        634
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K747  2.050% 11/25/28        650        568
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K749  2.120% 4/25/55        125        109
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1510  3.718% 1/25/31        300        279
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1510  3.794% 1/25/34      2,135      1,955
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1511  3.470% 3/25/31        375        342
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1511  3.542% 3/25/34        950        848
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1513  2.797% 8/25/34      2,295      1,898
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1514  2.859% 10/25/34        950        806
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1515  1.940% 2/25/35        625        477
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1516  1.721% 5/25/35        875        614
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1517  1.716% 7/25/35      1,250        887
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1518  1.860% 10/25/35        375        278
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1519  2.013% 12/25/35      1,065        803
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1520  2.007% 7/25/35        248        204
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1520  2.438% 2/25/36        875        694
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1521  2.184% 8/25/36        700        531
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series K-1522  2.361% 10/25/36        675        509
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series KC02  3.370% 7/25/25        732        707
7,8 FHLMC Multifamily Structured Pass-Through Certificates Series KW01  2.853% 1/25/26        800        761
7 Fifth Third Auto Trust Series 2019-1  2.690% 11/16/26         99         99
7 Ford Credit Auto Lease Trust Series 2021-A  0.260% 2/15/24         82         82
7 Ford Credit Auto Lease Trust Series 2021-A  0.300% 4/15/24        100         99
7 Ford Credit Auto Lease Trust Series 2021-B  0.370% 10/15/24        575        562
7 Ford Credit Auto Lease Trust Series 2022-A  3.370% 7/15/25         50         49
7 Ford Credit Auto Lease Trust Series 2022-A  3.810% 8/15/25        100         97
7 Ford Credit Auto Owner Trust Series 2019-A  2.850% 8/15/24        119        119
7 Ford Credit Auto Owner Trust Series 2020-A  1.040% 8/15/24         11         11
7 Ford Credit Auto Owner Trust Series 2020-B  0.560% 10/15/24        169        167
7 Ford Credit Auto Owner Trust Series 2020-B  0.790% 11/15/25        125        120
7 Ford Credit Auto Owner Trust Series 2020-C  0.410% 7/15/25        193        188
7 Ford Credit Auto Owner Trust Series 2020-C  0.510% 8/15/26        125        115
7 Ford Credit Auto Owner Trust Series 2021-A  0.300% 8/15/25        498        482
7 Ford Credit Auto Owner Trust Series 2021-A  0.490% 9/15/26        235        215
7 Ford Credit Auto Owner Trust Series 2022-A  1.290% 6/15/26        225        214
7 Ford Credit Auto Owner Trust Series 2022-A  1.560% 5/15/27         50         45
7 Ford Credit Auto Owner Trust Series 2022-B  3.740% 9/15/26        300        292
7 Ford Credit Auto Owner Trust Series 2022-B  3.930% 8/15/27        100         96
7 Ford Credit Auto Owner Trust Series 2022-C  4.480% 12/15/26        475        468
 
45

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Ford Credit Auto Owner Trust Series 2022-C  4.590% 12/15/27        325        319
7 Ford Credit Floorplan Master Owner Trust A Series 2018-4  4.060% 11/15/30        700        656
7 Ford Credit Floorplan Master Owner Trust A Series 2019-2  3.060% 4/15/26        775        750
7 Ford Credit Floorplan Master Owner Trust A Series 2019-4  2.440% 9/15/26        765        732
7 Ford Credit Floorplan Master Owner Trust A Series 2020-1  0.700% 9/15/25      1,065      1,031
7 Ford Credit Floorplan Master Owner Trust A Series 2020-2  1.060% 9/15/27        675        608
7 GM Financial Automobile Leasing Trust Series 2020-3  0.760% 10/21/24         25         25
7 GM Financial Automobile Leasing Trust Series 2021-1  0.330% 2/20/25         75         74
7 GM Financial Automobile Leasing Trust Series 2021-1  0.540% 2/20/25         50         49
7 GM Financial Automobile Leasing Trust Series 2021-2  0.410% 5/20/25         75         72
7 GM Financial Automobile Leasing Trust Series 2021-3  0.390% 10/21/24        550        534
7 GM Financial Automobile Leasing Trust Series 2021-3  0.500% 7/21/25        100         95
7 GM Financial Automobile Leasing Trust Series 2022-1  1.900% 3/20/25        825        794
7 GM Financial Automobile Leasing Trust Series 2022-1  1.960% 2/20/26        200        190
7 GM Financial Automobile Leasing Trust Series 2022-2  3.420% 6/20/25        375        365
7 GM Financial Automobile Leasing Trust Series 2022-2  3.540% 5/20/26        125        121
7 GM Financial Automobile Leasing Trust Series 2022-2  4.020% 5/20/26         50         49
7 GM Financial Automobile Leasing Trust Series 2022-3  4.010% 9/22/25        375        367
7 GM Financial Automobile Leasing Trust Series 2022-3  4.110% 8/20/26        150        146
7 GM Financial Consumer Automobile Receivables Trust Series 2020-1  1.900% 3/17/25        115        113
7 GM Financial Consumer Automobile Receivables Trust Series 2020-3  0.450% 4/16/25         58         57
7 GM Financial Consumer Automobile Receivables Trust Series 2020-4  0.380% 8/18/25        270        263
7 GM Financial Consumer Automobile Receivables Trust Series 2020-4  0.500% 2/17/26         65         60
7 GM Financial Consumer Automobile Receivables Trust Series 2021-1  0.350% 10/16/25        243        234
7 GM Financial Consumer Automobile Receivables Trust Series 2021-1  0.540% 5/17/27      1,390      1,283
7 GM Financial Consumer Automobile Receivables Trust Series 2021-2  0.510% 4/16/26        225        217
7 GM Financial Consumer Automobile Receivables Trust Series 2021-2  0.820% 10/16/26         75         69
7 GM Financial Consumer Automobile Receivables Trust Series 2021-3  0.480% 6/16/26        425        405
7 GM Financial Consumer Automobile Receivables Trust Series 2021-3  0.730% 8/16/27        225        204
7 GM Financial Consumer Automobile Receivables Trust Series 2021-4  0.680% 9/16/26        275        259
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 GM Financial Consumer Automobile Receivables Trust Series 2021-4  0.990% 10/18/27        100         91
7 GM Financial Consumer Automobile Receivables Trust Series 2022-1  1.260% 11/16/26        200        189
7 GM Financial Consumer Automobile Receivables Trust Series 2022-1  1.510% 4/17/28         75         68
7 GM Financial Consumer Automobile Receivables Trust Series 2022-2  3.100% 2/16/27        275        267
7 GM Financial Consumer Automobile Receivables Trust Series 2022-2  3.250% 4/17/28         50         48
7 GM Financial Consumer Automobile Receivables Trust Series 2022-3  3.640% 4/16/27        150        147
7 GM Financial Consumer Automobile Receivables Trust Series 2022-3  3.710% 12/16/27        100         97
7 GM Financial Consumer Automobile Receivables Trust Series 2022-4  4.820% 8/16/27        575        576
7 GM Financial Consumer Automobile Receivables Trust Series 2022-4  4.880% 8/16/28        100        100
7 GS Mortgage Securities Trust Series 2013-GC14  3.817% 8/10/46         12         12
7 GS Mortgage Securities Trust Series 2013-GC14  4.243% 8/10/46      1,075      1,065
7 GS Mortgage Securities Trust Series 2013-GC16  3.813% 11/10/46         23         23
7 GS Mortgage Securities Trust Series 2013-GC16  4.271% 11/10/46        625        618
7 GS Mortgage Securities Trust Series 2014-GC18  4.074% 1/10/47      1,025      1,004
7 GS Mortgage Securities Trust Series 2014-GC18  4.383% 1/10/47        275        267
7 GS Mortgage Securities Trust Series 2014-GC22  3.862% 6/10/47        150        146
7 GS Mortgage Securities Trust Series 2014-GC24  3.931% 9/10/47        475        458
7 GS Mortgage Securities Trust Series 2014-GC24  4.511% 9/10/47        125        118
7 GS Mortgage Securities Trust Series 2014-GC26  3.365% 11/10/47         94         92
7 GS Mortgage Securities Trust Series 2014-GC26  3.629% 11/10/47        800        768
7 GS Mortgage Securities Trust Series 2014-GC26  3.964% 11/10/47        125        118
7 GS Mortgage Securities Trust Series 2014-GC26  4.215% 11/10/47        125        117
7 GS Mortgage Securities Trust Series 2015-GC28  3.396% 2/10/48        500        477
7 GS Mortgage Securities Trust Series 2015-GC30  3.382% 5/10/50        450        426
7 GS Mortgage Securities Trust Series 2015-GC32  3.513% 7/10/48        221        213
7 GS Mortgage Securities Trust Series 2015-GC32  3.764% 7/10/48        175        167
7 GS Mortgage Securities Trust Series 2015-GC34  3.278% 10/10/48        226        217
7 GS Mortgage Securities Trust Series 2015-GC34  3.506% 10/10/48        400        376
7 GS Mortgage Securities Trust Series 2016-GS2  3.050% 5/10/49        300        278
7 GS Mortgage Securities Trust Series 2016-GS3  2.850% 10/10/49        775        704
7 GS Mortgage Securities Trust Series 2016-GS4  3.442% 11/10/49        275        254
 
46

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 GS Mortgage Securities Trust Series 2016-GS4  3.645% 11/10/49        200        181
7 GS Mortgage Securities Trust Series 2017-GS5  3.674% 3/10/50        625        582
7 GS Mortgage Securities Trust Series 2017-GS5  3.826% 3/10/50        250        227
7 GS Mortgage Securities Trust Series 2017-GS6  3.433% 5/10/50        700        645
7 GS Mortgage Securities Trust Series 2017-GS6  3.638% 5/10/50        100         90
7 GS Mortgage Securities Trust Series 2017-GS6  4.322% 5/10/50         30         25
7 GS Mortgage Securities Trust Series 2017-GS7  3.430% 8/10/50        983        904
7 GS Mortgage Securities Trust Series 2017-GS7  3.663% 8/10/50        262        234
7 GS Mortgage Securities Trust Series 2017-GS8  3.205% 11/10/50        200        182
7 GS Mortgage Securities Trust Series 2019-GC39  3.567% 5/10/52        400        356
7 GS Mortgage Securities Trust Series 2019-GC40  2.904% 7/10/52        250        215
7 GS Mortgage Securities Trust Series 2019-GC40  3.160% 7/10/52        550        484
7 GS Mortgage Securities Trust Series 2019-GC42  3.001% 9/1/52      1,125        961
7 GS Mortgage Securities Trust Series 2019-GC42  3.212% 9/1/52        275        234
7 GS Mortgage Securities Trust Series 2019-GSA1  3.048% 11/10/52        500        434
7 GS Mortgage Securities Trust Series 2020-GC45  2.911% 2/13/53        525        444
7 GS Mortgage Securities Trust Series 2020-GC45  3.173% 2/13/53        150        127
7 GS Mortgage Securities Trust Series 2020-GC47  2.377% 5/12/53        250        202
7 GS Mortgage Securities Trust Series 2020-GSA2  2.012% 12/12/53        475        369
7 GS Mortgage Securities Trust Series 2020-GSA2  2.224% 12/12/53         75         57
7 Harley-Davidson Motorcycle Trust Series 2021-B  0.560% 11/16/26        674        651
7 Harley-Davidson Motorcycle Trust Series 2021-B  0.820% 5/15/29        125        115
7 Harley-Davidson Motorcycle Trust Series 2022-A  3.060% 2/15/27        100         97
7 Harley-Davidson Motorcycle Trust Series 2022-A  3.260% 1/15/30         75         71
7 Honda Auto Receivables Owner Trust Series 2020-1  1.630% 10/21/26         70         69
7 Honda Auto Receivables Owner Trust Series 2020-3  0.460% 4/19/27         75         72
7 Honda Auto Receivables Owner Trust Series 2021-1  0.270% 4/21/25        298        289
7 Honda Auto Receivables Owner Trust Series 2021-1  0.420% 1/21/28        185        172
7 Honda Auto Receivables Owner Trust Series 2021-2  0.330% 8/15/25        530        511
7 Honda Auto Receivables Owner Trust Series 2021-3  0.410% 11/18/25        300        286
7 Honda Auto Receivables Owner Trust Series 2021-3  0.600% 12/20/27         75         69
7 Honda Auto Receivables Owner Trust Series 2021-4  0.880% 1/21/26        400        380
7 Honda Auto Receivables Owner Trust Series 2021-4  1.140% 6/21/28        100         92
7 Honda Auto Receivables Owner Trust Series 2022-1  1.880% 5/15/26        200        189
7 Honda Auto Receivables Owner Trust Series 2022-1  2.040% 12/15/28         75         69
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Honda Auto Receivables Owner Trust Series 2022-2  3.730% 7/20/26        200        196
7 Honda Auto Receivables Owner Trust Series 2022-2  3.760% 12/18/28         75         72
7 Hyundai Auto Receivables Trust Series 2019-B  2.000% 4/15/25         67         67
7 Hyundai Auto Receivables Trust Series 2020-A  1.410% 11/15/24         19         19
7 Hyundai Auto Receivables Trust Series 2020-B  0.480% 12/16/24         55         55
7 Hyundai Auto Receivables Trust Series 2020-B  0.620% 12/15/25         75         72
7 Hyundai Auto Receivables Trust Series 2020-C  0.380% 5/15/25        128        125
7 Hyundai Auto Receivables Trust Series 2020-C  0.490% 11/16/26         50         46
7 Hyundai Auto Receivables Trust Series 2021-A  0.380% 9/15/25        140        136
7 Hyundai Auto Receivables Trust Series 2021-A  0.620% 5/17/27         75         69
7 Hyundai Auto Receivables Trust Series 2021-C  0.740% 5/15/26        225        212
7 Hyundai Auto Receivables Trust Series 2021-C  1.030% 12/15/27        100         90
7 John Deere Owner Trust Series 2021-B  0.520% 3/16/26        400        380
7 John Deere Owner Trust Series 2022-C  5.090% 6/15/27        750        752
7 John Deere Owner Trust Series 2022-C  5.200% 9/17/29        175        175
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C10  3.143% 12/15/47         17         17
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C10  3.372% 12/15/47        109        108
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C16  3.674% 12/15/46         20         20
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C16  3.881% 12/15/46         95         94
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C16  4.166% 12/15/46        300        296
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C16  4.517% 12/15/46        150        148
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-C16  4.943% 12/15/46        150        148
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2013-LC11  3.499% 4/15/46        175        173
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2014-C20  3.805% 7/15/47        250        242
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2015-JP1  3.914% 1/15/49        325        310
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-JP3  2.870% 8/15/49        975        888
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-JP4  3.648% 12/15/49        400        373
7 JP Morgan Chase Commercial Mortgage Securities Trust Series 2016-JP4  3.870% 12/15/49        325        296
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C12  3.664% 7/15/45        122        121
 
47

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C12  4.052% 7/15/45         81         80
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C14  3.761% 8/15/46         42         42
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C14  4.133% 8/15/46        595        591
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C14  4.409% 8/15/46        220        215
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C15  3.659% 11/15/45          9          9
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C15  4.131% 11/15/45        435        429
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C15  4.420% 11/15/45        275        271
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C17  3.705% 1/15/47         37         36
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C17  4.199% 1/15/47        625        615
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C17  4.458% 1/15/47        125        123
7 JPMBB Commercial Mortgage Securities Trust Series 2013-C17  4.883% 1/15/47        187        182
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C18  4.079% 2/15/47        774        756
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C18  4.439% 2/15/47         93         90
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C18  4.735% 2/15/47        113        109
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C19  3.669% 4/15/47         35         35
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C19  3.997% 4/15/47        225        220
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C19  4.243% 4/15/47        175        169
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C21  3.428% 8/15/47         29         28
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C21  3.775% 8/15/47        100         97
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C21  3.997% 8/15/47         75         72
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C22  3.801% 9/15/47        650        629
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C22  4.110% 9/15/47        175        168
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C23  3.934% 9/15/47        319        309
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C23  4.202% 9/15/47        188        180
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C24  2.940% 11/15/47          5          5
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C24  3.639% 11/15/47        150        144
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C24  3.914% 11/15/47        300        282
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C25  3.672% 11/15/47        750        722
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C25  4.065% 11/15/47        200        190
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C26  3.494% 1/15/48        360        345
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C26  3.800% 1/15/48        200        189
7 JPMBB Commercial Mortgage Securities Trust Series 2014-C26  3.951% 1/15/48        200        184
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C27  3.017% 2/15/48        196        190
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C27  3.179% 2/15/48        218        206
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C28  3.227% 10/15/48        500        473
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C28  3.532% 10/15/48        100         93
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C29  3.304% 5/15/48         95         93
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C29  3.611% 5/15/48        350        333
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C30  3.559% 7/15/48        190        185
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C30  3.822% 7/15/48        425        405
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C30  4.226% 7/15/48        200        187
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C31  3.540% 8/15/48        107        104
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C31  3.801% 8/15/48        385        367
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C32  3.358% 11/15/48        213        206
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C32  3.598% 11/15/48        425        401
7 JPMBB Commercial Mortgage Securities Trust Series 2015-C33  3.770% 12/15/48        300        286
7 JPMBB Commercial Mortgage Securities Trust Series 2016-C1  3.316% 3/17/49        191        185
7 JPMCC Commercial Mortgage Securities Trust Series 2017-JP5  3.723% 3/15/50      1,250      1,167
7 JPMCC Commercial Mortgage Securities Trust Series 2017-JP6  3.490% 7/15/50        250        231
 
48

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 JPMCC Commercial Mortgage Securities Trust Series 2017-JP6  3.744% 7/15/50        400        360
7 JPMCC Commercial Mortgage Securities Trust Series 2019-COR4  4.029% 3/10/52      1,400      1,293
7 JPMCC Commercial Mortgage Securities Trust Series 2019-COR5  3.386% 6/13/52        850        759
7 JPMCC Commercial Mortgage Securities Trust Series 2019-COR5  3.669% 6/13/52         75         64
7 JPMDB Commercial Mortgage Securities Trust Series 2016-C2  3.144% 6/15/49        300        278
7 JPMDB Commercial Mortgage Securities Trust Series 2016-C2  3.484% 6/15/49        150        136
7 JPMDB Commercial Mortgage Securities Trust Series 2016-C4  3.141% 12/15/49        100         91
7 JPMDB Commercial Mortgage Securities Trust Series 2017-C5  3.694% 3/15/50      2,000      1,865
7 JPMDB Commercial Mortgage Securities Trust Series 2017-C5  3.858% 3/15/50        425        386
7 JPMDB Commercial Mortgage Securities Trust Series 2017-C7  3.409% 10/15/50        275        253
7 JPMDB Commercial Mortgage Securities Trust Series 2017-C7  3.713% 10/15/50        175        156
7 JPMDB Commercial Mortgage Securities Trust Series 2018-C8  4.211% 6/15/51      1,000        940
7 JPMDB Commercial Mortgage Securities Trust Series 2018-C8  4.421% 6/15/51        125        116
7 JPMDB Commercial Mortgage Securities Trust Series 2019-COR6  3.057% 11/13/52      1,250      1,077
7 JPMDB Commercial Mortgage Securities Trust Series 2020-COR7  2.180% 5/13/53        250        201
7 Mercedes-Benz Auto Lease Trust Series 2020-B  0.500% 6/15/26         50         50
7 Mercedes-Benz Auto Lease Trust Series 2021-A  0.250% 1/16/24        129        127
7 Mercedes-Benz Auto Lease Trust Series 2021-A  0.320% 10/15/26        125        122
7 Mercedes-Benz Auto Lease Trust Series 2021-B  0.400% 11/15/24        225        219
7 Mercedes-Benz Auto Lease Trust Series 2021-B  0.510% 3/15/27        100         95
7 Mercedes-Benz Auto Receivables Trust Series 2020-1  0.770% 10/15/26         30         28
7 Mercedes-Benz Auto Receivables Trust Series 2021-1  0.460% 6/15/26        325        309
7 Mercedes-Benz Auto Receivables Trust Series 2021-1  0.730% 12/15/27         50         45
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C7  3.214% 2/15/46         15         15
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C10  4.070% 7/15/46      1,600      1,586
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C11  4.198% 8/15/46        240        236
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C13  4.039% 11/15/46        300        294
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C13  4.743% 11/15/46        150        147
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C14  4.064% 2/15/47        275        270
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C14  4.869% 2/15/47        150        145
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C16  3.477% 6/15/47         19         18
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C16  3.892% 6/15/47        325        316
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C16  4.315% 6/15/47        125        119
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C18  3.923% 10/15/47        100         97
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C18  4.431% 10/15/47        125        118
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C19  3.326% 12/15/47         83         82
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C19  3.526% 12/15/47        275        263
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C20  3.069% 2/15/48         66         65
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C20  3.249% 2/15/48        725        689
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C21  3.338% 3/15/48        300        284
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C22  3.040% 4/15/48        168        163
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C22  3.306% 4/15/48        325        309
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C22  3.883% 4/15/48        200        185
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C23  3.398% 7/15/50         70         68
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C23  3.719% 7/15/50        450        426
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C24  3.732% 5/15/48        275        261
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C25  3.383% 10/15/48        224        216
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C25  3.635% 10/15/48        350        332
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C26  3.323% 10/15/48        148        144
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C26  3.531% 10/15/48        800        755
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C27  3.557% 12/15/47        111        108
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C27  3.753% 12/15/47        250        237
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C28  3.272% 1/15/49        169        160
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C28  3.288% 1/15/49        142        138
 
49

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C28  3.544% 1/15/49        800        752
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C30  2.860% 9/15/49        800        729
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C31  3.102% 11/15/49        950        865
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C32  3.720% 12/15/49        800        741
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2016-C32  3.994% 12/15/49        325        297
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2017-C33  3.599% 5/15/50      1,000        926
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2017-C33  3.852% 5/15/50        400        362
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2017-C34  3.276% 11/15/52        400        364
7 Morgan Stanley Bank of America Merrill Lynch Trust Series 2017-C34  3.536% 11/15/52        575        530
7 Morgan Stanley Capital I Series 2017-HR2  3.587% 12/15/50        225        207
7 Morgan Stanley Capital I Trust Series 2015-UBS8  3.809% 12/15/48        300        282
7 Morgan Stanley Capital I Trust Series 2016-BNK2  3.049% 11/15/49        400        365
7 Morgan Stanley Capital I Trust Series 2016-BNK2  3.282% 11/15/49        317        283
7 Morgan Stanley Capital I Trust Series 2016-UB11  2.782% 8/15/49        800        722
7 Morgan Stanley Capital I Trust Series 2016-UB12  3.596% 12/15/49        825        763
7 Morgan Stanley Capital I Trust Series 2016-UBS9  3.329% 3/15/49        125        118
7 Morgan Stanley Capital I Trust Series 2017-H1  3.530% 6/15/50        550        507
7 Morgan Stanley Capital I Trust Series 2019-H6  3.417% 6/15/52      1,050        938
7 Morgan Stanley Capital I Trust Series 2019-H6  3.700% 6/15/52        125        110
7 Morgan Stanley Capital I Trust Series 2019-H7  3.261% 7/15/52        200        176
7 Morgan Stanley Capital I Trust Series 2019-L2  3.806% 3/15/52        250        232
7 Morgan Stanley Capital I Trust Series 2019-L2  4.071% 3/15/52        625        576
7 Morgan Stanley Capital I Trust Series 2019-L3  3.127% 11/15/52        775        672
7 Morgan Stanley Capital I Trust Series 2020-HR8  2.041% 7/15/53        300        241
7 Morgan Stanley Capital I Trust Series 2020-L4  2.698% 2/15/53        750        631
7 Morgan Stanley Capital I Trust Series 2020-L4  2.880% 2/15/53        115         95
7 Morgan Stanley Capital I Trust Series 2021-L6  2.444% 6/15/54        375        300
7 Morgan Stanley Capital I Trust Series 2021-L6  2.749% 6/15/54         50         39
7 Morgan Stanley Capital I Trust Series 2021-L6  2.951% 6/15/54         25         19
7 Morgan Stanley Capital I Trust Series 2021-L7  2.574% 10/15/54        725        584
7 Morgan Stanley Capital I Trust Series 2022-L8  3.795% 4/15/55        750        669
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Nissan Auto Lease Trust Series 2021-A  0.520% 8/15/24        350        342
7 Nissan Auto Lease Trust Series 2021-A  0.650% 7/15/26        100         96
7 Nissan Auto Lease Trust Series 2022-A  3.870% 7/15/27        100         98
7 Nissan Auto Receivables Owner Trust Series 2019-C  1.950% 5/15/26        150        146
7 Nissan Auto Receivables Owner Trust Series 2020-B  0.550% 7/15/24         44         44
7 Nissan Auto Receivables Owner Trust Series 2020-B  0.710% 2/16/27         50         48
7 Nissan Auto Receivables Owner Trust Series 2021-A  0.330% 10/15/25        475        455
7 Nissan Auto Receivables Owner Trust Series 2021-A  0.570% 9/15/27        225        203
7 Nissan Auto Receivables Owner Trust Series 2022-A  1.860% 8/17/26        250        238
7 Nissan Auto Receivables Owner Trust Series 2022-A  2.070% 12/17/29        150        138
7 Nissan Auto Receivables Owner Trust Series 2022-B  4.460% 5/17/27        300        296
7 Nissan Auto Receivables Owner Trust Series 2022-B  4.450% 11/15/29        100         98
7 PSNH Funding LLC 3 Series 2018-1  3.506% 8/1/28        100         96
7 PSNH Funding LLC 3 Series 2018-1  3.814% 2/1/35        225        205
7 Santander Drive Auto Receivables Trust Series 2020-2  1.460% 9/15/25         35         35
7 Santander Drive Auto Receivables Trust Series 2020-3  1.120% 1/15/26         44         44
7 Santander Drive Auto Receivables Trust Series 2021-1  0.750% 2/17/26        164        161
7 Santander Drive Auto Receivables Trust Series 2021-2  0.590% 9/15/25         47         47
7 Santander Drive Auto Receivables Trust Series 2021-2  1.350% 7/15/27        275        257
7 Santander Drive Auto Receivables Trust Series 2021-3  0.950% 9/15/27        175        168
7 Santander Drive Auto Receivables Trust Series 2021-3  1.330% 9/15/27        250        233
7 Santander Drive Auto Receivables Trust Series 2021-4  0.880% 6/15/26        425        416
7 Santander Drive Auto Receivables Trust Series 2021-4  1.260% 2/16/27        225        214
7 Santander Drive Auto Receivables Trust Series 2021-4  1.670% 10/15/27        100         93
7 Santander Drive Auto Receivables Trust Series 2022-1  2.360% 8/17/26        300        291
7 Santander Drive Auto Receivables Trust Series 2022-1  2.560% 4/17/28        150        144
7 Santander Drive Auto Receivables Trust Series 2022-2  3.440% 9/15/27        275        266
7 Santander Drive Auto Receivables Trust Series 2022-2  3.760% 7/16/29        200        192
7 Santander Drive Auto Receivables Trust Series 2022-3  4.130% 8/16/27        200        195
7 Santander Drive Auto Receivables Trust Series 2022-5  4.430% 3/15/27        125        122
7 Santander Drive Auto Receivables Trust Series 2022-5  4.740% 10/16/28        150        145
7 Santander Drive Auto Receivables Trust Series 2022-6  4.960% 11/15/28        100         96
7 Synchrony Card Funding LLC Series 2022-A1  3.370% 4/15/28        925        891
7 Toyota Auto Receivables Owner Trust Series 2020-A  1.680% 5/15/25        195        190
7 Toyota Auto Receivables Owner Trust Series 2020-B  1.360% 8/15/24         15         15
 
50

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Toyota Auto Receivables Owner Trust Series 2020-C  0.440% 10/15/24         61         60
7 Toyota Auto Receivables Owner Trust Series 2020-D  0.350% 1/15/25        143        139
7 Toyota Auto Receivables Owner Trust Series 2020-D  0.470% 1/15/26         50         47
7 Toyota Auto Receivables Owner Trust Series 2021-A  0.260% 5/15/25        172        167
7 Toyota Auto Receivables Owner Trust Series 2021-A  0.390% 6/15/26        100         92
7 Toyota Auto Receivables Owner Trust Series 2021-B  0.260% 11/17/25      1,450      1,392
7 Toyota Auto Receivables Owner Trust Series 2021-B  0.530% 10/15/26        175        159
7 Toyota Auto Receivables Owner Trust Series 2021-C  0.430% 1/15/26        525        498
7 Toyota Auto Receivables Owner Trust Series 2021-C  0.720% 1/15/27        125        113
7 Toyota Auto Receivables Owner Trust Series 2021-D  0.710% 4/15/26        250        236
7 Toyota Auto Receivables Owner Trust Series 2021-D  1.020% 3/15/27        100         90
7 Toyota Auto Receivables Owner Trust Series 2022-B  2.930% 9/15/26        350        339
7 Toyota Auto Receivables Owner Trust Series 2022-B  3.110% 8/16/27         75         71
7 Toyota Auto Receivables Owner Trust Series 2022-C  3.760% 4/15/27        275        267
7 Toyota Auto Receivables Owner Trust Series 2022-C  3.770% 2/15/28         75         73
7 UBS Commercial Mortgage Trust Series 2017-C1  3.460% 6/15/50        800        735
7 UBS Commercial Mortgage Trust Series 2017-C1  3.724% 6/15/50        350        310
7 UBS Commercial Mortgage Trust Series 2017-C2  3.487% 8/15/50        600        550
7 UBS Commercial Mortgage Trust Series 2017-C2  3.740% 8/15/50        150        134
7 UBS Commercial Mortgage Trust Series 2017-C3  3.426% 8/15/50        725        664
7 UBS Commercial Mortgage Trust Series 2017-C3  3.739% 8/15/50        300        269
7 UBS Commercial Mortgage Trust Series 2017-C4  3.301% 10/15/50        433        392
7 UBS Commercial Mortgage Trust Series 2017-C4  3.563% 10/15/50        600        545
7 UBS Commercial Mortgage Trust Series 2017-C4  3.836% 10/15/50        262        235
7 UBS Commercial Mortgage Trust Series 2017-C5  3.474% 11/15/50        400        365
7 UBS Commercial Mortgage Trust Series 2017-C7  3.679% 12/15/50        600        553
7 UBS Commercial Mortgage Trust Series 2017-C7  4.061% 12/15/50        325        294
7 UBS Commercial Mortgage Trust Series 2018-C8  3.720% 2/15/51        497        461
7 UBS Commercial Mortgage Trust Series 2018-C8  3.983% 2/15/51        200        187
7 UBS Commercial Mortgage Trust Series 2018-C8  4.215% 2/15/51        325        300
7 UBS Commercial Mortgage Trust Series 2018-C9  4.117% 3/15/51      1,200      1,114
7 UBS Commercial Mortgage Trust Series 2018-C10  4.313% 5/15/51        800        753
7 UBS Commercial Mortgage Trust Series 2018-C11  4.241% 6/15/51        150        141
7 UBS Commercial Mortgage Trust Series 2018-C12  4.296% 8/15/51        475        449
7 UBS Commercial Mortgage Trust Series 2018-C13  4.208% 10/15/51         96         95
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 UBS Commercial Mortgage Trust Series 2018-C13  4.334% 10/15/51        600        572
7 UBS Commercial Mortgage Trust Series 2018-C13  4.585% 10/15/51        100         93
7 UBS Commercial Mortgage Trust Series 2018-C14  4.448% 12/15/51        975        921
7 UBS Commercial Mortgage Trust Series 2018-C15  4.341% 12/15/51        575        543
7 UBS Commercial Mortgage Trust Series 2019-C16  3.605% 4/15/52        400        358
7 UBS Commercial Mortgage Trust Series 2019-C16  3.887% 4/15/52        125        112
7 UBS Commercial Mortgage Trust Series 2019-C17  2.921% 10/15/52        450        383
7 UBS Commercial Mortgage Trust Series 2019-C18  3.035% 12/15/52        275        235
7 UBS-Barclays Commercial Mortgage Trust Series 2013-C6  3.244% 4/10/46        118        117
7 UBS-Barclays Commercial Mortgage Trust Series 2013-C6  3.469% 4/10/46         75         74
7 Verizon Master Trust Series 2021-1  0.500% 5/20/27      2,500      2,351
7 Verizon Master Trust Series 2021-2  0.990% 4/20/28      1,550      1,445
7 Verizon Master Trust Series 2022-2  1.530% 7/20/28        625        582
7 Verizon Master Trust Series 2022-4  3.400% 11/20/28        900        871
7 Verizon Master Trust Series 2022-6  3.670% 1/22/29        525        507
7 Verizon Owner Trust Series 2020-C  0.410% 4/21/25        769        757
7 Volkswagen Auto Loan Enhanced Trust Series 2020-1  0.980% 11/20/24         30         29
7 Volkswagen Auto Loan Enhanced Trust Series 2021-1  1.020% 6/22/26        550        522
7 Volkswagen Auto Loan Enhanced Trust Series 2021-1  1.260% 10/20/28        100         91
7 Wells Fargo Commercial Mortgage Trust Series 2014-LC16  3.477% 8/15/50         27         27
7 Wells Fargo Commercial Mortgage Trust Series 2014-LC16  3.817% 8/15/50        900        873
7 Wells Fargo Commercial Mortgage Trust Series 2014-LC16  4.020% 8/15/50         50         48
7 Wells Fargo Commercial Mortgage Trust Series 2014-LC18  3.405% 12/15/47        400        381
7 Wells Fargo Commercial Mortgage Trust Series 2014-LC18  3.808% 12/15/47        200        189
7 Wells Fargo Commercial Mortgage Trust Series 2015-C26  2.991% 2/15/48        172        168
7 Wells Fargo Commercial Mortgage Trust Series 2015-C26  3.166% 2/15/48        200        190
7 Wells Fargo Commercial Mortgage Trust Series 2015-C26  3.580% 2/15/48        175        164
7 Wells Fargo Commercial Mortgage Trust Series 2015-C27  3.190% 2/15/48        589        562
7 Wells Fargo Commercial Mortgage Trust Series 2015-C28  3.540% 5/15/48        625        594
7 Wells Fargo Commercial Mortgage Trust Series 2015-C28  3.872% 5/15/48        117        110
 
51

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Wells Fargo Commercial Mortgage Trust Series 2015-C29  3.400% 6/15/48        117        114
7 Wells Fargo Commercial Mortgage Trust Series 2015-C29  3.637% 6/15/48        625        594
7 Wells Fargo Commercial Mortgage Trust Series 2015-C30  3.664% 9/15/58        225        214
7 Wells Fargo Commercial Mortgage Trust Series 2015-LC20  2.978% 4/15/50         48         47
7 Wells Fargo Commercial Mortgage Trust Series 2015-LC20  3.184% 4/15/50        853        807
7 Wells Fargo Commercial Mortgage Trust Series 2015-LC20  3.719% 4/15/50        200        184
7 Wells Fargo Commercial Mortgage Trust Series 2015-LC22  3.571% 9/15/58         93         90
7 Wells Fargo Commercial Mortgage Trust Series 2015-LC22  3.839% 9/15/58        275        261
7 Wells Fargo Commercial Mortgage Trust Series 2015-LC22  4.207% 9/15/58        225        211
7 Wells Fargo Commercial Mortgage Trust Series 2015-NXS1  2.632% 5/15/48          2          2
7 Wells Fargo Commercial Mortgage Trust Series 2015-NXS1  2.934% 5/15/48         39         38
7 Wells Fargo Commercial Mortgage Trust Series 2015-NXS1  3.148% 5/15/48        175        165
7 Wells Fargo Commercial Mortgage Trust Series 2015-P2  3.656% 12/15/48        198        191
7 Wells Fargo Commercial Mortgage Trust Series 2015-P2  3.809% 12/15/48        200        190
7 Wells Fargo Commercial Mortgage Trust Series 2015-SG1  3.789% 9/15/48        747        715
7 Wells Fargo Commercial Mortgage Trust Series 2016-BNK1  2.652% 8/15/49        525        474
7 Wells Fargo Commercial Mortgage Trust Series 2016-C32  3.324% 1/15/59        134        130
7 Wells Fargo Commercial Mortgage Trust Series 2016-C32  3.560% 1/15/59        475        445
7 Wells Fargo Commercial Mortgage Trust Series 2016-C33  3.426% 3/15/59        315        295
7 Wells Fargo Commercial Mortgage Trust Series 2016-C34  3.096% 6/15/49        325        300
7 Wells Fargo Commercial Mortgage Trust Series 2016-C36  2.807% 11/15/59        154        141
7 Wells Fargo Commercial Mortgage Trust Series 2016-C37  3.794% 12/15/49        325        306
7 Wells Fargo Commercial Mortgage Trust Series 2016-LC24  2.825% 10/15/49        244        233
7 Wells Fargo Commercial Mortgage Trust Series 2016-LC24  2.942% 10/15/49        614        562
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Wells Fargo Commercial Mortgage Trust Series 2016-LC24  3.367% 10/15/49        100         90
7 Wells Fargo Commercial Mortgage Trust Series 2016-LC25  3.640% 12/15/59        210        196
7 Wells Fargo Commercial Mortgage Trust Series 2017-C38  3.453% 7/15/50        854        787
7 Wells Fargo Commercial Mortgage Trust Series 2017-C38  3.665% 7/15/50        242        217
7 Wells Fargo Commercial Mortgage Trust Series 2017-C39  3.418% 9/15/50        725        667
7 Wells Fargo Commercial Mortgage Trust Series 2017-C39  3.702% 9/15/50        400        360
7 Wells Fargo Commercial Mortgage Trust Series 2017-C40  3.317% 10/15/50        400        364
7 Wells Fargo Commercial Mortgage Trust Series 2017-C40  3.581% 10/15/50        600        555
7 Wells Fargo Commercial Mortgage Trust Series 2017-C40  3.854% 10/15/50        150        135
7 Wells Fargo Commercial Mortgage Trust Series 2017-C41  3.472% 11/15/50      1,000        919
7 Wells Fargo Commercial Mortgage Trust Series 2017-RB1  3.635% 3/15/50      1,200      1,112
7 Wells Fargo Commercial Mortgage Trust Series 2017-RC1  3.631% 1/15/60      1,200      1,119
7 Wells Fargo Commercial Mortgage Trust Series 2018-C43  4.012% 3/15/51      1,200      1,128
7 Wells Fargo Commercial Mortgage Trust Series 2018-C43  4.152% 3/15/51        200        184
7 Wells Fargo Commercial Mortgage Trust Series 2018-C44  4.212% 5/15/51        775        733
7 Wells Fargo Commercial Mortgage Trust Series 2018-C45  4.184% 6/15/51      1,000        945
7 Wells Fargo Commercial Mortgage Trust Series 2018-C46  4.152% 8/15/51        475        447
7 Wells Fargo Commercial Mortgage Trust Series 2018-C47  4.442% 9/15/61      1,075      1,027
7 Wells Fargo Commercial Mortgage Trust Series 2018-C48  4.302% 1/15/52        500        473
7 Wells Fargo Commercial Mortgage Trust Series 2019-C49  4.023% 3/15/52        975        908
7 Wells Fargo Commercial Mortgage Trust Series 2019-C50  3.729% 5/15/52        700        637
7 Wells Fargo Commercial Mortgage Trust Series 2019-C51  3.311% 6/15/52        780        692
7 Wells Fargo Commercial Mortgage Trust Series 2019-C52  2.892% 8/15/52        200        173
7 Wells Fargo Commercial Mortgage Trust Series 2019-C52  3.143% 8/15/52        350        296
 
52

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Wells Fargo Commercial Mortgage Trust Series 2019-C53  3.040% 10/15/52        750        653
7 Wells Fargo Commercial Mortgage Trust Series 2019-C54  3.146% 12/15/52        450        392
7 Wells Fargo Commercial Mortgage Trust Series 2020-C55  2.725% 2/15/53        975        825
7 Wells Fargo Commercial Mortgage Trust Series 2020-C56  2.448% 6/15/53        135        112
7 Wells Fargo Commercial Mortgage Trust Series 2020-C58  2.092% 7/15/53        175        139
7 Wells Fargo Commercial Mortgage Trust Series 2021-C59  2.626% 4/15/54        400        328
7 WFRBS Commercial Mortgage Trust Series 2013-C12  3.560% 3/15/48         23         22
7 WFRBS Commercial Mortgage Trust Series 2013-C13  3.001% 5/15/45        222        221
7 WFRBS Commercial Mortgage Trust Series 2013-C13  3.345% 5/15/45         44         44
7 WFRBS Commercial Mortgage Trust Series 2013-C14  3.488% 6/15/46        200        196
7 WFRBS Commercial Mortgage Trust Series 2013-C15  3.720% 8/15/46         11         11
7 WFRBS Commercial Mortgage Trust Series 2013-C15  4.358% 8/15/46        160        153
7 WFRBS Commercial Mortgage Trust Series 2013-C16  3.963% 9/15/46         19         19
7 WFRBS Commercial Mortgage Trust Series 2013-C16  4.415% 9/15/46        180        178
7 WFRBS Commercial Mortgage Trust Series 2013-C16  4.668% 9/15/46        290        286
7 WFRBS Commercial Mortgage Trust Series 2013-C17  3.558% 12/15/46         15         15
7 WFRBS Commercial Mortgage Trust Series 2013-C17  4.023% 12/15/46        100         98
7 WFRBS Commercial Mortgage Trust Series 2013-C17  4.255% 12/15/46        100         98
7 WFRBS Commercial Mortgage Trust Series 2013-C17  4.788% 12/15/46        100         96
7 WFRBS Commercial Mortgage Trust Series 2013-C18  4.162% 12/15/46      1,436      1,408
7 WFRBS Commercial Mortgage Trust Series 2013-C18  4.387% 12/15/46         50         49
7 WFRBS Commercial Mortgage Trust Series 2013-C18  4.838% 12/15/46         75         72
7 WFRBS Commercial Mortgage Trust Series 2013-UBS1  4.079% 3/15/46        156        153
7 WFRBS Commercial Mortgage Trust Series 2013-UBS1  5.024% 3/15/46         50         49
7 WFRBS Commercial Mortgage Trust Series 2014-C19  3.618% 3/15/47         11         11
7 WFRBS Commercial Mortgage Trust Series 2014-C19  4.101% 3/15/47        175        171
7 WFRBS Commercial Mortgage Trust Series 2014-C19  4.723% 3/15/47         50         48
7 WFRBS Commercial Mortgage Trust Series 2014-C20  3.638% 5/15/47         25         24
7 WFRBS Commercial Mortgage Trust Series 2014-C20  3.995% 5/15/47        125        122
7 WFRBS Commercial Mortgage Trust Series 2014-C20  4.176% 5/15/47        125        121
7 WFRBS Commercial Mortgage Trust Series 2014-C21  3.410% 8/15/47        209        201
7 WFRBS Commercial Mortgage Trust Series 2014-C21  3.678% 8/15/47        425        410
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 WFRBS Commercial Mortgage Trust Series 2014-C22  3.752% 9/15/57        650        625
7 WFRBS Commercial Mortgage Trust Series 2014-C22  4.371% 9/15/57        100         94
7 WFRBS Commercial Mortgage Trust Series 2014-C23  3.636% 10/15/57         86         84
7 WFRBS Commercial Mortgage Trust Series 2014-C23  3.917% 10/15/57        125        121
7 WFRBS Commercial Mortgage Trust Series 2014-C23  4.210% 10/15/57         75         72
7 WFRBS Commercial Mortgage Trust Series 2014-C25  3.631% 11/15/47        200        192
7 WFRBS Commercial Mortgage Trust Series 2014-LC14  3.522% 3/15/47         55         55
7 WFRBS Commercial Mortgage Trust Series 2014-LC14  4.045% 3/15/47        725        710
7 WFRBS Commercial Mortgage Trust Series 2014-LC14  4.351% 3/15/47        300        291
7 World Omni Auto Receivables Trust Series 2019-C  1.960% 12/16/24         89         89
7 World Omni Auto Receivables Trust Series 2020-B  0.630% 5/15/25         77         75
7 World Omni Auto Receivables Trust Series 2020-B  0.820% 1/15/26         50         47
7 World Omni Auto Receivables Trust Series 2020-C  0.480% 11/17/25        125        122
7 World Omni Auto Receivables Trust Series 2020-C  0.610% 10/15/26         75         70
7 World Omni Auto Receivables Trust Series 2021-A  0.300% 1/15/26        163        156
7 World Omni Auto Receivables Trust Series 2021-A  0.480% 9/15/26         50         46
7 World Omni Auto Receivables Trust Series 2021-B  0.420% 6/15/26        350        336
7 World Omni Auto Receivables Trust Series 2021-C  0.440% 8/17/26        350        335
7 World Omni Auto Receivables Trust Series 2021-C  0.640% 9/15/27        150        136
7 World Omni Auto Receivables Trust Series 2021-D  0.810% 10/15/26        375        357
7 World Omni Auto Receivables Trust Series 2021-D  1.100% 11/15/27        250        227
7 World Omni Auto Receivables Trust Series 2022-A  1.660% 5/17/27        375        357
7 World Omni Auto Receivables Trust Series 2022-A  1.900% 3/15/28         50         46
7 World Omni Auto Receivables Trust Series 2022-B  3.250% 7/15/27        325        314
7 World Omni Auto Receivables Trust Series 2022-B  3.440% 3/15/28        125        119
7 World Omni Auto Receivables Trust Series 2022-C  3.660% 10/15/27        200        194
7 World Omni Auto Receivables Trust Series 2022-C  3.680% 9/15/28        100         96
7 World Omni Automobile Lease Securitization Trust Series 2020-B  0.520% 2/17/26         75         74
7 World Omni Automobile Lease Securitization Trust Series 2021-A  0.420% 8/15/24        200        194
7 World Omni Automobile Lease Securitization Trust Series 2021-A  0.500% 11/16/26         75         71
7 World Omni Select Auto Trust Series 2020-A  0.550% 7/15/25         14         14
7 World Omni Select Auto Trust Series 2021-A  0.530% 3/15/27        150        145
Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $540,517) 486,543
 
53

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
Corporate Bonds (10.7%)
Communications (0.9%)
  Activision Blizzard Inc.  3.400% 9/15/26      1,047        997
  Activision Blizzard Inc.  1.350% 9/15/30      1,000        781
  Activision Blizzard Inc.  4.500% 6/15/47        325        285
  Activision Blizzard Inc.  2.500% 9/15/50      1,400        864
  Alphabet Inc.  3.375% 2/25/24        100        100
  Alphabet Inc.  0.450% 8/15/25        800        721
  Alphabet Inc.  1.998% 8/15/26      1,600      1,472
  Alphabet Inc.  0.800% 8/15/27        900        772
  Alphabet Inc.  1.100% 8/15/30      1,800      1,413
  Alphabet Inc.  1.900% 8/15/40      1,000        663
  Alphabet Inc.  2.050% 8/15/50      2,000      1,187
  Alphabet Inc.  2.250% 8/15/60      1,600        909
  America Movil SAB de CV  3.625% 4/22/29        700        637
  America Movil SAB de CV  2.875% 5/7/30        700        600
  America Movil SAB de CV  4.700% 7/21/32      1,000        957
  America Movil SAB de CV  6.375% 3/1/35        800        853
  America Movil SAB de CV  6.125% 11/15/37        300        314
  America Movil SAB de CV  6.125% 3/30/40      1,500      1,550
  America Movil SAB de CV  4.375% 7/16/42        950        815
  America Movil SAB de CV  4.375% 4/22/49      1,500      1,281
  AT&T Inc.  0.900% 3/25/24      1,500      1,425
  AT&T Inc.  1.700% 3/25/26      3,000      2,708
  AT&T Inc.  3.800% 2/15/27      2,570      2,448
  AT&T Inc.  1.650% 2/1/28      2,750      2,327
7 AT&T Inc.  4.100% 2/15/28        952        906
  AT&T Inc.  4.350% 3/1/29      2,700      2,570
7 AT&T Inc.  4.300% 2/15/30      2,249      2,115
  AT&T Inc.  2.750% 6/1/31      2,600      2,159
  AT&T Inc.  2.250% 2/1/32      2,000      1,568
  AT&T Inc.  2.550% 12/1/33      3,118      2,398
  AT&T Inc.  4.500% 5/15/35      2,230      2,028
  AT&T Inc.  4.900% 8/15/37      1,405      1,294
  AT&T Inc.  4.850% 3/1/39      1,000        895
  AT&T Inc.  3.500% 6/1/41      1,650      1,231
  AT&T Inc.  4.300% 12/15/42      1,523      1,255
  AT&T Inc.  4.350% 6/15/45      1,137        918
  AT&T Inc.  4.750% 5/15/46      1,825      1,557
7 AT&T Inc.  5.150% 11/15/46        742        669
  AT&T Inc.  4.500% 3/9/48      1,900      1,546
  AT&T Inc.  4.550% 3/9/49      1,424      1,166
  AT&T Inc.  3.650% 6/1/51      3,135      2,217
  AT&T Inc.  3.500% 9/15/53      7,406      5,039
  AT&T Inc.  3.550% 9/15/55      7,751      5,235
  AT&T Inc.  3.800% 12/1/57      5,253      3,641
  AT&T Inc.  3.650% 9/15/59      4,249      2,876
  AT&T Inc.  3.850% 6/1/60      1,155        806
  Baidu Inc.  4.375% 5/14/24        400        393
  Baidu Inc.  3.075% 4/7/25        200        188
  Baidu Inc.  1.720% 4/9/26        500        443
  Baidu Inc.  3.625% 7/6/27        325        299
  Baidu Inc.  4.375% 3/29/28        400        377
  Baidu Inc.  4.875% 11/14/28      1,150      1,103
  Baidu Inc.  3.425% 4/7/30        700        608
  Baidu Inc.  2.375% 8/23/31        650        507
7 Bell Telephone Co. of Canada or Bell Canada  3.650% 3/17/51        500        362
7 Bell Telephone Co. of Canada or Bell Canada  3.200% 2/15/52        400        268
  Booking Holdings Inc.  3.650% 3/15/25        400        390
  Booking Holdings Inc.  3.600% 6/1/26        755        723
  Booking Holdings Inc.  3.550% 3/15/28        650        606
  British Telecommunications plc  5.125% 12/4/28        250        242
  British Telecommunications plc  9.625% 12/15/30      2,300      2,745
7 Charter Communications Operating LLC  4.500% 2/1/24      1,330      1,314
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Charter Communications Operating LLC  4.908% 7/23/25      3,500      3,432
  Charter Communications Operating LLC  3.750% 2/15/28      1,380      1,250
  Charter Communications Operating LLC  4.200% 3/15/28      1,000        919
  Charter Communications Operating LLC  2.250% 1/15/29      1,000        804
  Charter Communications Operating LLC  5.050% 3/30/29      1,300      1,222
  Charter Communications Operating LLC  2.800% 4/1/31      1,415      1,100
  Charter Communications Operating LLC  2.300% 2/1/32        800        590
  Charter Communications Operating LLC  4.400% 4/1/33        900        771
  Charter Communications Operating LLC  6.384% 10/23/35      1,964      1,918
  Charter Communications Operating LLC  5.375% 4/1/38        800        672
  Charter Communications Operating LLC  3.500% 6/1/41      1,000        658
  Charter Communications Operating LLC  3.500% 3/1/42      1,000        646
  Charter Communications Operating LLC  6.484% 10/23/45      3,110      2,818
  Charter Communications Operating LLC  5.375% 5/1/47      2,350      1,852
  Charter Communications Operating LLC  5.750% 4/1/48      1,550      1,275
  Charter Communications Operating LLC  5.125% 7/1/49        750        572
  Charter Communications Operating LLC  4.800% 3/1/50      2,700      1,976
  Charter Communications Operating LLC  3.700% 4/1/51      1,845      1,123
  Charter Communications Operating LLC  3.900% 6/1/52      2,500      1,577
  Charter Communications Operating LLC  5.250% 4/1/53      1,000        781
  Charter Communications Operating LLC  6.834% 10/23/55      1,325      1,226
  Charter Communications Operating LLC  3.850% 4/1/61      2,300      1,329
  Charter Communications Operating LLC  4.400% 12/1/61      1,300        835
  Charter Communications Operating LLC  3.950% 6/30/62      1,250        738
  Charter Communications Operating LLC  5.500% 4/1/63        900        693
  Comcast Corp.  3.375% 2/15/25        999        969
  Comcast Corp.  3.375% 8/15/25        955        921
  Comcast Corp.  3.950% 10/15/25      3,089      3,024
  Comcast Corp.  3.150% 3/1/26      2,000      1,906
  Comcast Corp.  2.350% 1/15/27      1,930      1,756
  Comcast Corp.  3.300% 2/1/27      1,375      1,298
  Comcast Corp.  3.300% 4/1/27      1,250      1,178
  Comcast Corp.  3.150% 2/15/28      1,381      1,276
  Comcast Corp.  4.150% 10/15/28      4,000      3,845
  Comcast Corp.  2.650% 2/1/30      1,050        907
  Comcast Corp.  3.400% 4/1/30      1,375      1,252
  Comcast Corp.  4.250% 10/15/30      1,200      1,151
  Comcast Corp.  1.950% 1/15/31      1,300      1,049
  Comcast Corp.  1.500% 2/15/31      3,400      2,647
  Comcast Corp.  4.250% 1/15/33      1,275      1,201
  Comcast Corp.  7.050% 3/15/33      1,025      1,180
  Comcast Corp.  5.650% 6/15/35      1,080      1,130
  Comcast Corp.  4.400% 8/15/35      1,000        929
  Comcast Corp.  6.500% 11/15/35         71         79
  Comcast Corp.  3.200% 7/15/36        700        568
 
54

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Comcast Corp.  6.450% 3/15/37      1,350      1,482
  Comcast Corp.  3.900% 3/1/38      1,225      1,062
  Comcast Corp.  4.600% 10/15/38      2,300      2,125
  Comcast Corp.  3.250% 11/1/39        575        449
  Comcast Corp.  3.750% 4/1/40      2,650      2,188
  Comcast Corp.  4.650% 7/15/42        565        510
  Comcast Corp.  4.600% 8/15/45      1,291      1,139
  Comcast Corp.  3.400% 7/15/46      3,200      2,346
  Comcast Corp.  4.000% 8/15/47      1,700      1,365
  Comcast Corp.  3.969% 11/1/47      1,871      1,501
  Comcast Corp.  4.000% 3/1/48        922        742
  Comcast Corp.  4.700% 10/15/48      1,300      1,171
  Comcast Corp.  3.999% 11/1/49      1,803      1,436
  Comcast Corp.  3.450% 2/1/50      1,400      1,021
  Comcast Corp.  2.800% 1/15/51      1,575      1,004
  Comcast Corp.  2.887% 11/1/51      3,731      2,415
  Comcast Corp.  2.450% 8/15/52        500        296
  Comcast Corp.  4.049% 11/1/52      1,317      1,060
  Comcast Corp.  2.937% 11/1/56      4,888      3,066
  Comcast Corp.  4.950% 10/15/58      1,150      1,050
  Comcast Corp.  2.650% 8/15/62      1,000        570
  Comcast Corp.  2.987% 11/1/63      2,184      1,330
  Deutsche Telekom International Finance BV  8.750% 6/15/30      3,450      4,071
  Discovery Communications LLC  3.800% 3/13/24        210        205
  Discovery Communications LLC  3.900% 11/15/24        534        517
  Discovery Communications LLC  3.450% 3/15/25      1,350      1,283
  Discovery Communications LLC  3.950% 6/15/25        576        549
  Discovery Communications LLC  4.900% 3/11/26        550        533
  Discovery Communications LLC  3.950% 3/20/28      1,609      1,428
  Discovery Communications LLC  4.125% 5/15/29        500        434
  Discovery Communications LLC  3.625% 5/15/30        930        768
  Discovery Communications LLC  5.000% 9/20/37        530        427
  Discovery Communications LLC  6.350% 6/1/40      1,155      1,049
  Discovery Communications LLC  4.875% 4/1/43        700        519
  Discovery Communications LLC  5.200% 9/20/47      1,130        844
  Discovery Communications LLC  5.300% 5/15/49        689        522
  Discovery Communications LLC  4.650% 5/15/50        900        619
  Discovery Communications LLC  4.000% 9/15/55      1,245        750
  Electronic Arts Inc.  4.800% 3/1/26        275        274
  Electronic Arts Inc.  1.850% 2/15/31        500        393
  Electronic Arts Inc.  2.950% 2/15/51        800        520
  Expedia Group Inc.  5.000% 2/15/26      1,600      1,580
  Expedia Group Inc.  4.625% 8/1/27        900        864
  Expedia Group Inc.  3.800% 2/15/28      1,500      1,377
  Expedia Group Inc.  3.250% 2/15/30      1,025        870
  Expedia Group Inc.  2.950% 3/15/31        270        217
  Fox Corp.  4.030% 1/25/24      1,575      1,556
  Fox Corp.  3.050% 4/7/25        240        230
  Fox Corp.  4.709% 1/25/29      1,000        968
  Fox Corp.  3.500% 4/8/30        560        495
  Fox Corp.  5.476% 1/25/39        950        864
  Fox Corp.  5.576% 1/25/49      1,900      1,703
  Grupo Televisa SAB  4.625% 1/30/26        550        538
  Grupo Televisa SAB  8.500% 3/11/32         50         59
  Grupo Televisa SAB  6.625% 1/15/40        500        515
  Grupo Televisa SAB  5.000% 5/13/45      1,240      1,062
  Grupo Televisa SAB  6.125% 1/31/46        350        349
  Grupo Televisa SAB  5.250% 5/24/49        800        709
  Interpublic Group of Cos. Inc.  4.200% 4/15/24        176        173
  Interpublic Group of Cos. Inc.  4.650% 10/1/28        325        311
  Interpublic Group of Cos. Inc.  4.750% 3/30/30        400        377
  Interpublic Group of Cos. Inc.  2.400% 3/1/31        500        395
  Interpublic Group of Cos. Inc.  3.375% 3/1/41        500        352
  Interpublic Group of Cos. Inc.  5.400% 10/1/48        850        780
  Koninklijke KPN NV  8.375% 10/1/30        500        560
  Meta Platforms Inc.  3.500% 8/15/27      1,000        932
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Meta Platforms Inc.  3.850% 8/15/32        800        704
  Meta Platforms Inc.  4.450% 8/15/52      1,000        795
  Meta Platforms Inc.  4.650% 8/15/62      1,000        802
  NBCUniversal Media LLC  4.450% 1/15/43      1,450      1,272
  Omnicom Group Inc.  3.650% 11/1/24        650        636
  Omnicom Group Inc.  3.600% 4/15/26      1,150      1,104
  Omnicom Group Inc.  2.450% 4/30/30        620        512
  Omnicom Group Inc.  4.200% 6/1/30        400        372
  Omnicom Group Inc.  2.600% 8/1/31        750        613
  Orange SA  9.000% 3/1/31      2,260      2,765
  Orange SA  5.375% 1/13/42        700        678
  Orange SA  5.500% 2/6/44        600        591
  Paramount Global  4.750% 5/15/25        440        433
  Paramount Global  4.000% 1/15/26        500        480
  Paramount Global  2.900% 1/15/27      1,133      1,017
  Paramount Global  3.375% 2/15/28      1,425      1,264
  Paramount Global  3.700% 6/1/28        400        357
  Paramount Global  4.950% 1/15/31      1,200      1,070
  Paramount Global  4.200% 5/19/32      2,000      1,635
  Paramount Global  6.875% 4/30/36      1,100      1,068
  Paramount Global  5.900% 10/15/40        300        262
  Paramount Global  4.850% 7/1/42        675        500
  Paramount Global  4.375% 3/15/43      1,387        958
  Paramount Global  5.850% 9/1/43        975        809
  Paramount Global  5.250% 4/1/44        500        385
  Paramount Global  4.900% 8/15/44        700        511
  Paramount Global  4.600% 1/15/45        600        421
  Paramount Global  4.950% 5/19/50      1,250        913
10 Rogers Communications Inc.  2.950% 3/15/25        900        858
  Rogers Communications Inc.  3.625% 12/15/25        475        455
10 Rogers Communications Inc.  3.200% 3/15/27        800        740
10 Rogers Communications Inc.  3.800% 3/15/32      1,900      1,640
10 Rogers Communications Inc.  4.500% 3/15/42        700        569
  Rogers Communications Inc.  4.500% 3/15/43        540        430
  Rogers Communications Inc.  5.000% 3/15/44        500        426
  Rogers Communications Inc.  4.350% 5/1/49      1,100        835
10 Rogers Communications Inc.  4.550% 3/15/52      1,800      1,404
  Take-Two Interactive Software Inc.  3.300% 3/28/24        900        878
  Take-Two Interactive Software Inc.  3.550% 4/14/25        500        482
  Take-Two Interactive Software Inc.  3.700% 4/14/27        500        471
  Take-Two Interactive Software Inc.  4.000% 4/14/32        500        442
  Telefonica Emisiones SA  4.103% 3/8/27      1,675      1,588
  Telefonica Emisiones SA  7.045% 6/20/36        335        346
  Telefonica Emisiones SA  4.665% 3/6/38      1,600      1,270
  Telefonica Emisiones SA  5.213% 3/8/47      2,500      2,018
  Telefonica Emisiones SA  4.895% 3/6/48      1,200        926
  Telefonica Emisiones SA  5.520% 3/1/49      1,900      1,588
  Telefonica Europe BV  8.250% 9/15/30      1,580      1,763
  TELUS Corp.  2.800% 2/16/27        500        462
  TELUS Corp.  3.400% 5/13/32        350        298
  TELUS Corp.  4.300% 6/15/49        500        410
  Tencent Music Entertainment Group  2.000% 9/3/30        400        303
  Thomson Reuters Corp.  3.350% 5/15/26        400        380
  Thomson Reuters Corp.  5.500% 8/15/35        350        332
  Thomson Reuters Corp.  5.850% 4/15/40        400        387
  Time Warner Cable Enterprises LLC  8.375% 7/15/33      1,150      1,283
  Time Warner Cable LLC  7.300% 7/1/38      1,585      1,584
  Time Warner Cable LLC  6.750% 6/15/39      1,850      1,762
  Time Warner Cable LLC  5.875% 11/15/40      1,150      1,001
  Time Warner Cable LLC  5.500% 9/1/41      1,225      1,023
  Time Warner Cable LLC  4.500% 9/15/42      1,230        904
  T-Mobile USA Inc.  3.500% 4/15/25      2,150      2,070
 
55

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  T-Mobile USA Inc.  1.500% 2/15/26      1,300      1,165
  T-Mobile USA Inc.  2.250% 2/15/26         82         75
  T-Mobile USA Inc.  2.625% 4/15/26        502        460
  T-Mobile USA Inc.  3.750% 4/15/27      4,500      4,243
  T-Mobile USA Inc.  5.375% 4/15/27        335        338
  T-Mobile USA Inc.  4.750% 2/1/28      1,020        994
  T-Mobile USA Inc.  2.050% 2/15/28      2,000      1,721
  T-Mobile USA Inc.  2.625% 2/15/29        670        569
  T-Mobile USA Inc.  2.400% 3/15/29        275        232
  T-Mobile USA Inc.  3.375% 4/15/29      1,135      1,000
  T-Mobile USA Inc.  3.875% 4/15/30      6,175      5,605
  T-Mobile USA Inc.  2.550% 2/15/31      2,400      1,956
  T-Mobile USA Inc.  2.875% 2/15/31        893        737
  T-Mobile USA Inc.  3.500% 4/15/31      1,865      1,615
  T-Mobile USA Inc.  2.250% 11/15/31        900        708
  T-Mobile USA Inc.  2.700% 3/15/32        925        749
  T-Mobile USA Inc.  5.200% 1/15/33        660        653
  T-Mobile USA Inc.  4.375% 4/15/40      3,250      2,788
  T-Mobile USA Inc.  3.000% 2/15/41      2,500      1,765
  T-Mobile USA Inc.  4.500% 4/15/50      2,690      2,221
  T-Mobile USA Inc.  3.300% 2/15/51      3,100      2,066
  T-Mobile USA Inc.  3.400% 10/15/52      2,100      1,426
  T-Mobile USA Inc.  5.650% 1/15/53        331        322
  T-Mobile USA Inc.  3.600% 11/15/60      1,800      1,184
  T-Mobile USA Inc.  5.800% 9/15/62        335        326
7 TWDC Enterprises 18 Corp.  3.150% 9/17/25        600        575
  TWDC Enterprises 18 Corp.  3.000% 2/13/26      1,000        947
7 TWDC Enterprises 18 Corp.  1.850% 7/30/26      1,415      1,280
7 TWDC Enterprises 18 Corp.  7.000% 3/1/32         50         56
  TWDC Enterprises 18 Corp.  4.375% 8/16/41        325        288
7 TWDC Enterprises 18 Corp.  4.125% 12/1/41        485        418
7 TWDC Enterprises 18 Corp.  3.700% 12/1/42        400        324
7 TWDC Enterprises 18 Corp.  3.000% 7/30/46        400        281
  VeriSign Inc.  2.700% 6/15/31        700        573
  Verizon Communications Inc.  3.376% 2/15/25      1,100      1,066
  Verizon Communications Inc.  0.850% 11/20/25      1,525      1,362
  Verizon Communications Inc.  1.450% 3/20/26      2,500      2,247
  Verizon Communications Inc.  2.625% 8/15/26      2,437      2,251
  Verizon Communications Inc.  4.125% 3/16/27      2,750      2,679
  Verizon Communications Inc.  3.000% 3/22/27      1,100      1,023
  Verizon Communications Inc.  2.100% 3/22/28      2,700      2,342
  Verizon Communications Inc.  4.329% 9/21/28      3,607      3,472
  Verizon Communications Inc.  4.016% 12/3/29      3,514      3,289
  Verizon Communications Inc.  3.150% 3/22/30      3,990      3,515
  Verizon Communications Inc.  1.500% 9/18/30        500        389
  Verizon Communications Inc.  1.680% 10/30/30      4,176      3,246
  Verizon Communications Inc.  2.550% 3/21/31      3,600      2,963
  Verizon Communications Inc.  2.355% 3/15/32      4,600      3,648
  Verizon Communications Inc.  4.500% 8/10/33      3,075      2,882
  Verizon Communications Inc.  4.400% 11/1/34      2,200      2,023
  Verizon Communications Inc.  4.272% 1/15/36      1,754      1,568
  Verizon Communications Inc.  5.250% 3/16/37      1,200      1,184
  Verizon Communications Inc.  4.812% 3/15/39      1,675      1,541
  Verizon Communications Inc.  2.650% 11/20/40      2,775      1,873
  Verizon Communications Inc.  3.400% 3/22/41      4,000      3,012
  Verizon Communications Inc.  2.850% 9/3/41        905        626
  Verizon Communications Inc.  4.750% 11/1/41        500        456
  Verizon Communications Inc.  4.125% 8/15/46      2,480      1,995
  Verizon Communications Inc.  4.862% 8/21/46      1,830      1,658
  Verizon Communications Inc.  4.522% 9/15/48      3,000      2,567
  Verizon Communications Inc.  4.000% 3/22/50      1,200        941
  Verizon Communications Inc.  2.875% 11/20/50      2,600      1,640
  Verizon Communications Inc.  3.550% 3/22/51      4,150      2,971
  Verizon Communications Inc.  2.987% 10/30/56      4,339      2,663
  Verizon Communications Inc.  3.000% 11/20/60      1,500        899
  Verizon Communications Inc.  3.700% 3/22/61      3,740      2,621
  Vodafone Group plc  3.750% 1/16/24      1,200      1,185
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Vodafone Group plc  4.125% 5/30/25      2,619      2,578
  Vodafone Group plc  7.875% 2/15/30        625        703
  Vodafone Group plc  6.250% 11/30/32        425        444
  Vodafone Group plc  6.150% 2/27/37      1,200      1,214
  Vodafone Group plc  5.000% 5/30/38      1,630      1,498
  Vodafone Group plc  4.375% 2/19/43      1,125        898
  Vodafone Group plc  5.250% 5/30/48      2,645      2,349
  Vodafone Group plc  4.875% 6/19/49      1,250      1,052
  Vodafone Group plc  4.250% 9/17/50      1,400      1,081
  Vodafone Group plc  5.125% 6/19/59        600        514
  Walt Disney Co.  1.750% 8/30/24      2,175      2,071
  Walt Disney Co.  3.700% 9/15/24      1,000        980
  Walt Disney Co.  3.350% 3/24/25      1,255      1,216
  Walt Disney Co.  3.700% 10/15/25        500        485
  Walt Disney Co.  1.750% 1/13/26      1,400      1,283
  Walt Disney Co.  3.375% 11/15/26        281        266
  Walt Disney Co.  3.700% 3/23/27        400        385
  Walt Disney Co.  2.200% 1/13/28      1,300      1,159
  Walt Disney Co.  2.000% 9/1/29      1,400      1,175
  Walt Disney Co.  3.800% 3/22/30      1,085      1,010
  Walt Disney Co.  2.650% 1/13/31      3,000      2,563
  Walt Disney Co.  6.550% 3/15/33        392        433
  Walt Disney Co.  6.200% 12/15/34        775        845
  Walt Disney Co.  6.400% 12/15/35      1,800      1,969
  Walt Disney Co.  6.150% 3/1/37        800        860
  Walt Disney Co.  4.625% 3/23/40        475        444
  Walt Disney Co.  3.500% 5/13/40      2,700      2,177
  Walt Disney Co.  5.400% 10/1/43        600        602
  Walt Disney Co.  4.750% 9/15/44        690        635
  Walt Disney Co.  4.950% 10/15/45        100         94
  Walt Disney Co.  2.750% 9/1/49      2,000      1,325
  Walt Disney Co.  4.700% 3/23/50      1,155      1,066
  Walt Disney Co.  3.600% 1/13/51      2,000      1,534
  Walt Disney Co.  3.800% 5/13/60      1,100        845
10 Warnermedia Holdings Inc.  3.428% 3/15/24      1,675      1,626
10 Warnermedia Holdings Inc.  3.528% 3/15/24        500        484
10 Warnermedia Holdings Inc.  3.638% 3/15/25      1,600      1,522
10 Warnermedia Holdings Inc.  3.788% 3/15/25        500        478
10 Warnermedia Holdings Inc.  3.755% 3/15/27      3,600      3,249
10 Warnermedia Holdings Inc.  4.054% 3/15/29      1,300      1,127
10 Warnermedia Holdings Inc.  4.279% 3/15/32      4,200      3,463
10 Warnermedia Holdings Inc.  5.050% 3/15/42      4,000      3,076
10 Warnermedia Holdings Inc.  5.141% 3/15/52      6,665      4,894
10 Warnermedia Holdings Inc.  5.391% 3/15/62      2,800      2,051
  Weibo Corp.  3.500% 7/5/24        825        800
  Weibo Corp.  3.375% 7/8/30      1,075        825
  WPP Finance 2010  3.750% 9/19/24      1,025        993
                                                 426,701
Consumer Discretionary (0.7%)
  Advance Auto Parts Inc.  3.900% 4/15/30        700        615
  Alibaba Group Holding Ltd.  3.600% 11/28/24      2,225      2,151
  Alibaba Group Holding Ltd.  3.400% 12/6/27      2,335      2,152
  Alibaba Group Holding Ltd.  2.125% 2/9/31      1,454      1,155
  Alibaba Group Holding Ltd.  4.500% 11/28/34        600        537
  Alibaba Group Holding Ltd.  4.000% 12/6/37        535        436
  Alibaba Group Holding Ltd.  2.700% 2/9/41      1,250        804
  Alibaba Group Holding Ltd.  4.200% 12/6/47      1,500      1,152
  Alibaba Group Holding Ltd.  3.150% 2/9/51      1,325        829
  Alibaba Group Holding Ltd.  4.400% 12/6/57        900        692
  Alibaba Group Holding Ltd.  3.250% 2/9/61        900        542
  Amazon.com Inc.  0.450% 5/12/24      2,000      1,887
  Amazon.com Inc.  4.700% 11/29/24        500        500
  Amazon.com Inc.  3.000% 4/13/25      1,000        966
  Amazon.com Inc.  0.800% 6/3/25      1,000        914
  Amazon.com Inc.  4.600% 12/1/25        500        499
  Amazon.com Inc.  5.200% 12/3/25        875        891
  Amazon.com Inc.  1.000% 5/12/26      2,500      2,216
 
56

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Amazon.com Inc.  3.300% 4/13/27      2,250      2,137
  Amazon.com Inc.  1.200% 6/3/27      2,200      1,907
  Amazon.com Inc.  3.150% 8/22/27      1,550      1,459
  Amazon.com Inc.  4.550% 12/1/27      2,000      1,994
  Amazon.com Inc.  1.650% 5/12/28      2,125      1,829
  Amazon.com Inc.  3.450% 4/13/29      1,750      1,638
  Amazon.com Inc.  2.100% 5/12/31      4,000      3,274
  Amazon.com Inc.  3.600% 4/13/32      1,750      1,605
  Amazon.com Inc.  4.700% 12/1/32      1,500      1,490
  Amazon.com Inc.  4.800% 12/5/34        975        975
  Amazon.com Inc.  3.875% 8/22/37      3,590      3,184
  Amazon.com Inc.  2.875% 5/12/41      1,900      1,419
  Amazon.com Inc.  4.950% 12/5/44      1,275      1,259
  Amazon.com Inc.  4.050% 8/22/47      3,400      2,939
  Amazon.com Inc.  2.500% 6/3/50      1,798      1,141
  Amazon.com Inc.  3.100% 5/12/51      3,025      2,168
  Amazon.com Inc.  3.950% 4/13/52      1,750      1,466
  Amazon.com Inc.  4.250% 8/22/57      1,085        941
  Amazon.com Inc.  2.700% 6/3/60      1,795      1,093
  Amazon.com Inc.  3.250% 5/12/61      1,500      1,043
  Amazon.com Inc.  4.100% 4/13/62        500        413
7 American Honda Finance Corp.  2.900% 2/16/24      1,725      1,684
7 American Honda Finance Corp.  2.400% 6/27/24        400        386
7 American Honda Finance Corp.  0.550% 7/12/24        500        468
7 American Honda Finance Corp.  2.150% 9/10/24        475        453
7 American Honda Finance Corp.  1.200% 7/8/25        500        457
7 American Honda Finance Corp.  1.000% 9/10/25        600        542
7 American Honda Finance Corp.  2.300% 9/9/26        250        229
7 American Honda Finance Corp.  2.350% 1/8/27        375        341
7 American Honda Finance Corp.  2.000% 3/24/28      1,300      1,123
7 American Honda Finance Corp.  2.250% 1/12/29        250        215
7 American Honda Finance Corp.  1.800% 1/13/31      1,000        794
7 American University  3.672% 4/1/49        400        310
  Aptiv plc  2.396% 2/18/25        500        472
  Aptiv plc  4.350% 3/15/29        150        141
  Aptiv plc  3.250% 3/1/32        700        575
  Aptiv plc  4.400% 10/1/46        225        170
  Aptiv plc  5.400% 3/15/49        305        263
  Aptiv plc  3.100% 12/1/51      1,300        771
  Aptiv plc  4.150% 5/1/52        900        652
  AutoNation Inc.  3.500% 11/15/24        762        730
  AutoNation Inc.  4.500% 10/1/25        500        485
  AutoNation Inc.  3.800% 11/15/27        250        227
  AutoNation Inc.  1.950% 8/1/28      2,000      1,598
  AutoNation Inc.  3.850% 3/1/32        750        599
  AutoZone Inc.  3.125% 4/18/24        430        419
  AutoZone Inc.  3.250% 4/15/25        748        719
  AutoZone Inc.  3.625% 4/15/25         23         22
  AutoZone Inc.  3.125% 4/21/26        300        283
  AutoZone Inc.  3.750% 6/1/27        700        668
  AutoZone Inc.  3.750% 4/18/29        550        509
  AutoZone Inc.  4.000% 4/15/30      1,400      1,296
  AutoZone Inc.  1.650% 1/15/31      1,158        896
  AutoZone Inc.  4.750% 8/1/32        500        486
  Best Buy Co. Inc.  4.450% 10/1/28        850        819
  BorgWarner Inc.  3.375% 3/15/25        250        239
  BorgWarner Inc.  2.650% 7/1/27        900        802
  BorgWarner Inc.  4.375% 3/15/45        500        386
7 Brown University  2.924% 9/1/50        500        353
  Brunswick Corp.  0.850% 8/18/24        500        462
  Brunswick Corp.  2.400% 8/18/31        500        367
  Brunswick Corp.  4.400% 9/15/32        500        421
  Brunswick Corp.  5.100% 4/1/52        500        362
7 California Endowment  2.498% 4/1/51        150         93
  California Institute of Technology  4.700% 11/1/11        325        270
  California Institute of Technology  3.650% 9/1/19        450        288
  Choice Hotels International Inc.  3.700% 12/1/29        500        435
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Claremont Mckenna College  3.775% 1/1/22        275        175
  Cleveland Clinic Foundation  4.858% 1/1/14        325        279
  Darden Restaurants Inc.  3.850% 5/1/27        750        714
  Darden Restaurants Inc.  4.550% 2/15/48        550        425
  Dick's Sporting Goods Inc.  3.150% 1/15/32        600        471
  Dick's Sporting Goods Inc.  4.100% 1/15/52        100         65
  DR Horton Inc.  2.500% 10/15/24        700        666
  DR Horton Inc.  2.600% 10/15/25      1,485      1,381
7 Duke University  2.682% 10/1/44        300        217
7 Duke University  2.757% 10/1/50        340        227
7 Duke University  2.832% 10/1/55        550        371
  eBay Inc.  1.900% 3/11/25      1,115      1,044
  eBay Inc.  5.900% 11/22/25        500        511
  eBay Inc.  1.400% 5/10/26        675        599
  eBay Inc.  3.600% 6/5/27        500        472
  eBay Inc.  2.700% 3/11/30        865        736
  eBay Inc.  2.600% 5/10/31        675        555
  eBay Inc.  6.300% 11/22/32        500        520
  eBay Inc.  4.000% 7/15/42        600        476
  eBay Inc.  3.650% 5/10/51        925        667
7 Emory University  2.143% 9/1/30        600        494
7 Emory University  2.969% 9/1/50        150        101
7 Ford Foundation  2.415% 6/1/50        250        158
7 Ford Foundation  2.815% 6/1/70        750        444
  Fortune Brands Innovations Inc.  4.000% 6/15/25        455        442
  Fortune Brands Innovations Inc.  3.250% 9/15/29        400        346
  Fortune Brands Innovations Inc.  4.000% 3/25/32        500        434
  Fortune Brands Innovations Inc.  4.500% 3/25/52        500        376
  General Motors Co.  4.000% 4/1/25        425        415
  General Motors Co.  6.125% 10/1/25      3,300      3,364
  General Motors Co.  4.200% 10/1/27        400        377
  General Motors Co.  6.800% 10/1/27      1,800      1,869
  General Motors Co.  5.000% 10/1/28        650        625
  General Motors Co.  5.400% 10/15/29        500        478
  General Motors Co.  5.600% 10/15/32        875        816
  General Motors Co.  5.000% 4/1/35      1,030        886
  General Motors Co.  6.600% 4/1/36        600        588
  General Motors Co.  5.150% 4/1/38        825        714
  General Motors Co.  6.250% 10/2/43      1,235      1,144
  General Motors Co.  5.200% 4/1/45      1,120        916
  General Motors Co.  6.750% 4/1/46        700        678
  General Motors Co.  5.400% 4/1/48        675        555
  General Motors Co.  5.950% 4/1/49        900        786
  General Motors Financial Co. Inc.  5.100% 1/17/24      1,100      1,097
  General Motors Financial Co. Inc.  1.050% 3/8/24        750        712
  General Motors Financial Co. Inc.  3.950% 4/13/24        800        784
  General Motors Financial Co. Inc.  1.200% 10/15/24        680        630
  General Motors Financial Co. Inc.  3.500% 11/7/24      1,700      1,640
  General Motors Financial Co. Inc.  4.000% 1/15/25        650        631
  General Motors Financial Co. Inc.  2.900% 2/26/25      1,014        962
  General Motors Financial Co. Inc.  3.800% 4/7/25        750        724
  General Motors Financial Co. Inc.  4.350% 4/9/25      1,675      1,631
  General Motors Financial Co. Inc.  2.750% 6/20/25        500        468
  General Motors Financial Co. Inc.  5.250% 3/1/26      1,175      1,157
  General Motors Financial Co. Inc.  1.500% 6/10/26        900        781
  General Motors Financial Co. Inc.  4.000% 10/6/26        525        495
  General Motors Financial Co. Inc.  4.350% 1/17/27      1,210      1,151
  General Motors Financial Co. Inc.  5.000% 4/9/27      1,000        969
  General Motors Financial Co. Inc.  2.700% 8/20/27      1,500      1,310
  General Motors Financial Co. Inc.  3.850% 1/5/28        500        457
  General Motors Financial Co. Inc.  2.400% 4/10/28        875        738
  General Motors Financial Co. Inc.  2.400% 10/15/28        365        304
  General Motors Financial Co. Inc.  5.650% 1/17/29        775        761
  General Motors Financial Co. Inc.  4.300% 4/6/29      2,000      1,795
  General Motors Financial Co. Inc.  3.600% 6/21/30      1,625      1,366
  General Motors Financial Co. Inc.  2.350% 1/8/31        500        378
  General Motors Financial Co. Inc.  2.700% 6/10/31        900        692
 
57

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Genuine Parts Co.  1.875% 11/1/30        600        461
7 George Washington University  4.300% 9/15/44        550        464
7 George Washington University  4.126% 9/15/48        800        669
7 Georgetown University  4.315% 4/1/49        378        314
7 Georgetown University  2.943% 4/1/50        405        260
7 Georgetown University  5.215% 10/1/18        243        213
  Harley-Davidson Inc.  4.625% 7/28/45        500        391
  Hasbro Inc.  3.550% 11/19/26      1,000        938
  Hasbro Inc.  3.900% 11/19/29        725        644
  Hasbro Inc.  6.350% 3/15/40        400        390
  Hasbro Inc.  5.100% 5/15/44        350        298
  Home Depot Inc.  2.700% 4/15/25        750        719
  Home Depot Inc.  3.000% 4/1/26      1,750      1,665
  Home Depot Inc.  2.500% 4/15/27      3,156      2,903
  Home Depot Inc.  0.900% 3/15/28        850        705
  Home Depot Inc.  3.900% 12/6/28        700        674
  Home Depot Inc.  2.950% 6/15/29      2,400      2,172
  Home Depot Inc.  2.700% 4/15/30      3,215      2,807
  Home Depot Inc.  1.375% 3/15/31      1,000        775
  Home Depot Inc.  1.875% 9/15/31        700        560
  Home Depot Inc.  3.250% 4/15/32        925        822
  Home Depot Inc.  4.500% 9/15/32        875        857
  Home Depot Inc.  5.875% 12/16/36      2,995      3,205
  Home Depot Inc.  3.300% 4/15/40      2,415      1,927
  Home Depot Inc.  5.950% 4/1/41      1,775      1,924
  Home Depot Inc.  4.200% 4/1/43        975        854
  Home Depot Inc.  4.400% 3/15/45        500        447
  Home Depot Inc.  4.250% 4/1/46      1,820      1,585
  Home Depot Inc.  3.900% 6/15/47        900        744
  Home Depot Inc.  4.500% 12/6/48        875        801
  Home Depot Inc.  3.125% 12/15/49      2,350      1,679
  Home Depot Inc.  3.350% 4/15/50      1,000        745
  Home Depot Inc.  2.375% 3/15/51      1,000        605
  Home Depot Inc.  2.750% 9/15/51      2,000      1,324
  Home Depot Inc.  3.625% 4/15/52      1,250        977
  Home Depot Inc.  4.950% 9/15/52      1,000        966
  Honda Motor Co. Ltd.  2.534% 3/10/27        775        709
  Honda Motor Co. Ltd.  2.967% 3/10/32      2,275      1,953
  Hyatt Hotels Corp.  1.800% 10/1/24        500        468
  Hyatt Hotels Corp.  5.625% 4/23/25        500        496
  Hyatt Hotels Corp.  4.850% 3/15/26        350        344
  Hyatt Hotels Corp.  4.375% 9/15/28        850        781
  Hyatt Hotels Corp.  6.000% 4/23/30        400        390
  JD.com Inc.  3.875% 4/29/26        400        380
  JD.com Inc.  3.375% 1/14/30        300        263
  JD.com Inc.  4.125% 1/14/50        400        294
7 Johns Hopkins University  4.705% 7/1/32        375        373
7 Johns Hopkins University  4.083% 7/1/53        490        411
  Kohl's Corp.  3.625% 5/1/31        325        228
  Lear Corp.  3.800% 9/15/27        204        190
  Lear Corp.  4.250% 5/15/29        400        360
  Lear Corp.  3.500% 5/30/30        350        296
  Lear Corp.  2.600% 1/15/32        500        376
  Lear Corp.  5.250% 5/15/49        250        206
  Lear Corp.  3.550% 1/15/52        500        302
  Leggett & Platt Inc.  3.800% 11/15/24        550        534
  Leggett & Platt Inc.  3.500% 11/15/27        700        643
  Leggett & Platt Inc.  3.500% 11/15/51        500        349
  Leland Stanford Junior University  1.289% 6/1/27        100         87
  Leland Stanford Junior University  3.647% 5/1/48      1,075        893
  Leland Stanford Junior University  2.413% 6/1/50        355        225
  Lennar Corp.  4.500% 4/30/24      3,000      2,960
  Lennar Corp.  4.750% 5/30/25      1,000        991
  Lennar Corp.  5.250% 6/1/26      1,500      1,501
  Lennar Corp.  4.750% 11/29/27      1,000        962
  Lowe's Cos. Inc.  3.125% 9/15/24        400        388
  Lowe's Cos. Inc.  4.000% 4/15/25      1,000        980
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Lowe's Cos. Inc.  4.400% 9/8/25        300        296
  Lowe's Cos. Inc.  3.375% 9/15/25        975        936
  Lowe's Cos. Inc.  2.500% 4/15/26      1,700      1,586
  Lowe's Cos. Inc.  3.100% 5/3/27        642        598
  Lowe's Cos. Inc.  1.300% 4/15/28        500        415
  Lowe's Cos. Inc.  1.700% 9/15/28        925        777
  Lowe's Cos. Inc.  3.650% 4/5/29      1,550      1,430
  Lowe's Cos. Inc.  4.500% 4/15/30      1,375      1,318
  Lowe's Cos. Inc.  1.700% 10/15/30      1,000        781
  Lowe's Cos. Inc.  2.625% 4/1/31        800        663
  Lowe's Cos. Inc.  3.750% 4/1/32      2,000      1,782
  Lowe's Cos. Inc.  5.000% 4/15/33      1,000        978
  Lowe's Cos. Inc.  5.000% 4/15/40        525        486
  Lowe's Cos. Inc.  2.800% 9/15/41        925        630
  Lowe's Cos. Inc.  4.250% 9/15/44         63         49
  Lowe's Cos. Inc.  3.700% 4/15/46      1,030        766
  Lowe's Cos. Inc.  4.050% 5/3/47      1,650      1,296
  Lowe's Cos. Inc.  4.550% 4/5/49        500        418
  Lowe's Cos. Inc.  5.125% 4/15/50        500        456
  Lowe's Cos. Inc.  3.000% 10/15/50      1,000        641
  Lowe's Cos. Inc.  3.500% 4/1/51        550        385
  Lowe's Cos. Inc.  4.250% 4/1/52      1,450      1,161
  Lowe's Cos. Inc.  5.625% 4/15/53      1,500      1,446
  Lowe's Cos. Inc.  4.450% 4/1/62      1,950      1,527
  Lowe's Cos. Inc.  5.800% 9/15/62        500        482
  Magna International Inc.  3.625% 6/15/24        825        807
  Magna International Inc.  4.150% 10/1/25        300        293
  Magna International Inc.  2.450% 6/15/30        500        413
  Marriott International Inc.  3.750% 3/15/25        525        508
  Marriott International Inc.  3.750% 10/1/25        200        192
7 Marriott International Inc.  3.125% 6/15/26      1,809      1,691
7 Marriott International Inc.  4.650% 12/1/28      2,000      1,919
7 Marriott International Inc.  4.625% 6/15/30      1,300      1,214
7 Marriott International Inc.  2.850% 4/15/31      1,200        972
7 Marriott International Inc.  3.500% 10/15/32        850        707
  Masco Corp.  3.500% 11/15/27        100         93
  Masco Corp.  1.500% 2/15/28        500        415
  Masco Corp.  7.750% 8/1/29         94        103
  Masco Corp.  2.000% 10/1/30        500        388
  Masco Corp.  2.000% 2/15/31        500        386
  Masco Corp.  4.500% 5/15/47        725        572
  Masco Corp.  3.125% 2/15/51        500        311
7 Massachusetts Institute of Technology  2.989% 7/1/50        370        270
  Massachusetts Institute of Technology  3.067% 4/1/52        500        369
  Massachusetts Institute of Technology  5.600% 7/1/11        860        898
  Massachusetts Institute of Technology  4.678% 7/1/14        700        608
  Massachusetts Institute of Technology  3.885% 7/1/16        200        145
7 McDonald's Corp.  3.375% 5/26/25      1,209      1,169
7 McDonald's Corp.  3.300% 7/1/25        818        791
7 McDonald's Corp.  3.700% 1/30/26      1,125      1,095
7 McDonald's Corp.  3.500% 3/1/27        200        190
7 McDonald's Corp.  3.500% 7/1/27      2,750      2,610
7 McDonald's Corp.  3.800% 4/1/28        500        478
7 McDonald's Corp.  2.625% 9/1/29        600        526
7 McDonald's Corp.  2.125% 3/1/30        600        501
7 McDonald's Corp.  3.600% 7/1/30      2,175      1,996
7 McDonald's Corp.  4.700% 12/9/35        675        649
7 McDonald's Corp.  6.300% 3/1/38        100        109
7 McDonald's Corp.  5.700% 2/1/39        375        386
7 McDonald's Corp.  3.700% 2/15/42        725        578
7 McDonald's Corp.  3.625% 5/1/43        400        313
7 McDonald's Corp.  4.600% 5/26/45        925        824
7 McDonald's Corp.  4.875% 12/9/45      1,225      1,136
 
58

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 McDonald's Corp.  4.450% 3/1/47        750        650
7 McDonald's Corp.  4.450% 9/1/48        900        789
7 McDonald's Corp.  3.625% 9/1/49      2,000      1,522
7 McDonald's Corp.  4.200% 4/1/50      1,000        836
  McDonald's Corp.  5.150% 9/9/52        500        483
  MDC Holdings Inc.  2.500% 1/15/31        300        216
  MDC Holdings Inc.  6.000% 1/15/43        400        327
10 Mercedes-Benz Finance North America LLC  0.750% 3/1/24        500        475
10 Mercedes-Benz Finance North America LLC  2.625% 3/10/30      1,000        844
  Mercedes-Benz Finance North America LLC  8.500% 1/18/31        605        746
  Mohawk Industries Inc.  3.625% 5/15/30        375        323
  NIKE Inc.  2.400% 3/27/25        650        621
  NIKE Inc.  2.375% 11/1/26      1,000        923
  NIKE Inc.  2.750% 3/27/27        650        608
  NIKE Inc.  2.850% 3/27/30      1,575      1,406
  NIKE Inc.  3.250% 3/27/40      1,050        853
  NIKE Inc.  3.625% 5/1/43        525        432
  NIKE Inc.  3.875% 11/1/45        500        430
  NIKE Inc.  3.375% 3/27/50      1,625      1,273
7 Northwestern University  4.643% 12/1/44        350        334
7 Northwestern University  2.640% 12/1/50        245        161
7 Northwestern University  3.662% 12/1/57        200        155
  NVR Inc.  3.000% 5/15/30      1,250      1,049
  O'Reilly Automotive Inc.  3.550% 3/15/26        500        481
  O'Reilly Automotive Inc.  3.600% 9/1/27      1,300      1,227
  O'Reilly Automotive Inc.  4.200% 4/1/30        350        330
  O'Reilly Automotive Inc.  1.750% 3/15/31        500        387
  Owens Corning  4.200% 12/1/24        250        246
  Owens Corning  3.400% 8/15/26        500        469
  Owens Corning  3.950% 8/15/29        375        340
  Owens Corning  3.875% 6/1/30        100         89
  Owens Corning  7.000% 12/1/36         18         19
  Owens Corning  4.300% 7/15/47      1,150        895
  Owens Corning  4.400% 1/30/48        525        409
  President & Fellows of Harvard College  4.875% 10/15/40        250        247
  President & Fellows of Harvard College  3.150% 7/15/46        400        306
  President & Fellows of Harvard College  2.517% 10/15/50        725        473
  President & Fellows of Harvard College  3.745% 11/15/52        500        417
  PulteGroup Inc.  5.500% 3/1/26        700        703
  PulteGroup Inc.  5.000% 1/15/27        975        965
  PulteGroup Inc.  6.375% 5/15/33      1,000        998
  PVH Corp.  4.625% 7/10/25        500        483
  Ralph Lauren Corp.  3.750% 9/15/25        100         97
  Ralph Lauren Corp.  2.950% 6/15/30        700        603
7 Rockefeller Foundation  2.492% 10/1/50      1,000        634
  Ross Stores Inc.  4.600% 4/15/25        575        571
  Ross Stores Inc.  1.875% 4/15/31        400        314
  Snap-on Inc.  3.250% 3/1/27        225        213
  Snap-on Inc.  4.100% 3/1/48        275        232
  Snap-on Inc.  3.100% 5/1/50        400        285
  Stanley Black & Decker Inc.  3.400% 3/1/26        375        357
  Stanley Black & Decker Inc.  4.250% 11/15/28        375        358
  Stanley Black & Decker Inc.  2.300% 3/15/30      1,500      1,234
  Stanley Black & Decker Inc.  5.200% 9/1/40        300        283
  Stanley Black & Decker Inc.  4.850% 11/15/48        400        349
7 Stanley Black & Decker Inc.  4.000% 3/15/60        200        172
  Starbucks Corp.  2.450% 6/15/26        665        617
  Starbucks Corp.  3.500% 3/1/28        500        469
  Starbucks Corp.  4.000% 11/15/28        250        238
  Starbucks Corp.  3.550% 8/15/29        700        645
  Starbucks Corp.  2.250% 3/12/30        600        498
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Starbucks Corp.  2.550% 11/15/30      2,000      1,681
  Starbucks Corp.  3.000% 2/14/32      1,000        855
  Starbucks Corp.  4.300% 6/15/45        200        168
  Starbucks Corp.  4.500% 11/15/48      1,685      1,457
  Starbucks Corp.  3.350% 3/12/50        700        495
  Starbucks Corp.  3.500% 11/15/50      1,000        725
  Tapestry Inc.  4.125% 7/15/27        109        102
  Tapestry Inc.  3.050% 3/15/32        500        390
  Thomas Jefferson University  3.847% 11/1/57        500        363
  TJX Cos. Inc.  2.250% 9/15/26        750        686
  TJX Cos. Inc.  1.150% 5/15/28        500        417
  TJX Cos. Inc.  3.875% 4/15/30        500        466
  TJX Cos. Inc.  4.500% 4/15/50        500        449
  Toyota Motor Corp.  0.681% 3/25/24      3,000      2,847
  Toyota Motor Corp.  2.358% 7/2/24        300        289
  Toyota Motor Corp.  1.339% 3/25/26      1,000        897
  Toyota Motor Corp.  3.669% 7/20/28        500        474
  Toyota Motor Corp.  2.760% 7/2/29        400        355
7 Toyota Motor Credit Corp.  0.450% 1/11/24        500        478
7 Toyota Motor Credit Corp.  2.900% 4/17/24        950        925
7 Toyota Motor Credit Corp.  0.500% 6/18/24        775        727
  Toyota Motor Credit Corp.  0.625% 9/13/24        700        652
7 Toyota Motor Credit Corp.  4.400% 9/20/24        875        868
7 Toyota Motor Credit Corp.  1.450% 1/13/25        700        656
7 Toyota Motor Credit Corp.  1.800% 2/13/25      1,125      1,058
7 Toyota Motor Credit Corp.  3.400% 4/14/25        100         97
  Toyota Motor Credit Corp.  3.950% 6/30/25        500        490
7 Toyota Motor Credit Corp.  0.800% 10/16/25      1,000        896
7 Toyota Motor Credit Corp.  1.125% 6/18/26      1,500      1,327
7 Toyota Motor Credit Corp.  3.200% 1/11/27        850        799
7 Toyota Motor Credit Corp.  1.900% 1/13/27        300        268
  Toyota Motor Credit Corp.  3.050% 3/22/27      1,000        933
7 Toyota Motor Credit Corp.  1.150% 8/13/27      2,100      1,790
7 Toyota Motor Credit Corp.  4.550% 9/20/27        875        863
  Toyota Motor Credit Corp.  5.450% 11/10/27        700        717
7 Toyota Motor Credit Corp.  3.050% 1/11/28        850        787
7 Toyota Motor Credit Corp.  1.900% 4/6/28        650        566
  Toyota Motor Credit Corp.  3.650% 1/8/29      1,450      1,363
  Toyota Motor Credit Corp.  4.450% 6/29/29        750        738
7 Toyota Motor Credit Corp.  2.150% 2/13/30        625        526
7 Toyota Motor Credit Corp.  3.375% 4/1/30      1,400      1,274
  Toyota Motor Credit Corp.  1.900% 9/12/31      1,000        791
7 Toyota Motor Credit Corp.  2.400% 1/13/32        160        131
  Tractor Supply Co.  1.750% 11/1/30        400        307
7 Trustees of Boston College  3.129% 7/1/52        300        211
7 Trustees of Boston University  4.061% 10/1/48        220        182
  Trustees of Princeton University  5.700% 3/1/39        620        670
7 Trustees of Princeton University  2.516% 7/1/50        565        382
  Trustees of Princeton University  4.201% 3/1/52        300        276
7 Trustees of the University of Pennsylvania  2.396% 10/1/50        325        205
  Trustees of the University of Pennsylvania  4.674% 9/1/12        600        507
7 University of Chicago  2.547% 4/1/50        800        535
  University of Chicago  3.000% 10/1/52        175        123
7 University of Chicago  4.003% 10/1/53        390        329
7 University of Miami  4.063% 4/1/52        500        411
7 University of Notre Dame du Lac  3.438% 2/15/45        890        711
7 University of Notre Dame du Lac  3.394% 2/15/48        325        250
7 University of Southern California  3.028% 10/1/39        525        411
7 University of Southern California  3.841% 10/1/47        500        414
7 University of Southern California  2.945% 10/1/51      1,125        760
  University of Southern California  5.250% 10/1/11        275        267
7 University of Southern California  3.226% 10/1/20        300        177
  VF Corp.  2.400% 4/23/25        600        563
  VF Corp.  2.800% 4/23/27        700        636
  VF Corp.  2.950% 4/23/30        594        494
 
59

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Washington University  3.524% 4/15/54        500        399
  Washington University  4.349% 4/15/22        350        276
  Whirlpool Corp.  4.000% 3/1/24        275        271
  Whirlpool Corp.  4.750% 2/26/29        600        584
  Whirlpool Corp.  4.500% 6/1/46        887        695
  Whirlpool Corp.  4.600% 5/15/50        200        161
7 William Marsh Rice University  3.574% 5/15/45        715        588
7 Yale University  0.873% 4/15/25        325        299
7 Yale University  1.482% 4/15/30        325        260
7 Yale University  2.402% 4/15/50        500        322
                                                 311,168
Consumer Staples (0.7%)
  Ahold Finance USA LLC  6.875% 5/1/29        425        442
  Altria Group Inc.  4.000% 1/31/24      1,092      1,081
  Altria Group Inc.  3.800% 2/14/24        550        540
  Altria Group Inc.  2.350% 5/6/25      1,275      1,199
  Altria Group Inc.  4.400% 2/14/26      1,200      1,176
  Altria Group Inc.  2.625% 9/16/26        350        321
  Altria Group Inc.  4.800% 2/14/29      1,525      1,462
  Altria Group Inc.  3.400% 5/6/30        775        662
  Altria Group Inc.  2.450% 2/4/32      1,000        754
  Altria Group Inc.  5.800% 2/14/39      1,175      1,078
  Altria Group Inc.  3.400% 2/4/41      1,100        730
  Altria Group Inc.  4.250% 8/9/42        710        526
  Altria Group Inc.  4.500% 5/2/43        675        508
  Altria Group Inc.  5.375% 1/31/44      2,075      1,836
  Altria Group Inc.  3.875% 9/16/46      1,400        934
  Altria Group Inc.  5.950% 2/14/49      1,245      1,109
  Altria Group Inc.  4.450% 5/6/50      1,010        715
  Altria Group Inc.  3.700% 2/4/51      2,000      1,263
  Altria Group Inc.  6.200% 2/14/59        416        388
7 Anheuser-Busch Cos. LLC  3.650% 2/1/26      4,177      4,023
7 Anheuser-Busch Cos. LLC  4.700% 2/1/36      5,820      5,487
7 Anheuser-Busch Cos. LLC  4.900% 2/1/46     10,182      9,318
  Anheuser-Busch InBev Finance Inc.  4.700% 2/1/36        850        801
  Anheuser-Busch InBev Finance Inc.  4.625% 2/1/44        675        605
  Anheuser-Busch InBev Finance Inc.  4.900% 2/1/46      2,275      2,085
  Anheuser-Busch InBev Worldwide Inc.  4.000% 4/13/28      3,929      3,750
  Anheuser-Busch InBev Worldwide Inc.  4.750% 1/23/29      2,580      2,550
  Anheuser-Busch InBev Worldwide Inc.  3.500% 6/1/30      3,700      3,365
  Anheuser-Busch InBev Worldwide Inc.  4.375% 4/15/38      1,225      1,101
  Anheuser-Busch InBev Worldwide Inc.  8.200% 1/15/39        735        914
  Anheuser-Busch InBev Worldwide Inc.  5.450% 1/23/39      2,030      2,024
  Anheuser-Busch InBev Worldwide Inc.  4.350% 6/1/40      1,000        884
  Anheuser-Busch InBev Worldwide Inc.  4.950% 1/15/42      1,660      1,556
  Anheuser-Busch InBev Worldwide Inc.  4.600% 4/15/48      2,222      1,956
  Anheuser-Busch InBev Worldwide Inc.  4.439% 10/6/48        787        674
  Anheuser-Busch InBev Worldwide Inc.  5.550% 1/23/49      1,600      1,595
  Anheuser-Busch InBev Worldwide Inc.  4.500% 6/1/50        725        641
  Anheuser-Busch InBev Worldwide Inc.  4.750% 4/15/58      1,100        974
  Anheuser-Busch InBev Worldwide Inc.  4.600% 6/1/60      1,012        876
  Archer-Daniels-Midland Co.  2.500% 8/11/26      1,649      1,530
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Archer-Daniels-Midland Co.  3.250% 3/27/30        675        607
  Archer-Daniels-Midland Co.  2.900% 3/1/32        353        303
  Archer-Daniels-Midland Co.  5.935% 10/1/32        280        300
  Archer-Daniels-Midland Co.  3.750% 9/15/47        300        244
  Archer-Daniels-Midland Co.  4.500% 3/15/49        525        479
  Archer-Daniels-Midland Co.  2.700% 9/15/51        500        333
  Avery Dennison Corp.  4.875% 12/6/28        300        293
  Avery Dennison Corp.  2.650% 4/30/30        750        616
  BAT Capital Corp.  3.222% 8/15/24      1,350      1,302
  BAT Capital Corp.  4.700% 4/2/27      2,750      2,641
  BAT Capital Corp.  3.557% 8/15/27      3,525      3,210
  BAT Capital Corp.  2.259% 3/25/28      1,425      1,186
  BAT Capital Corp.  3.462% 9/6/29        200        171
  BAT Capital Corp.  2.726% 3/25/31      1,750      1,365
  BAT Capital Corp.  4.742% 3/16/32      1,000        888
  BAT Capital Corp.  7.750% 10/19/32        500        538
  BAT Capital Corp.  4.390% 8/15/37        775        603
  BAT Capital Corp.  3.734% 9/25/40      1,000        680
  BAT Capital Corp.  4.540% 8/15/47      1,138        809
  BAT Capital Corp.  5.282% 4/2/50      1,725      1,359
  BAT Capital Corp.  3.984% 9/25/50        925        608
  BAT Capital Corp.  5.650% 3/16/52      1,000        829
  BAT International Finance plc  1.668% 3/25/26        750        664
  Beam Suntory Inc.  3.250% 6/15/23         50         49
  Brown-Forman Corp.  3.500% 4/15/25        350        342
  Brown-Forman Corp.  4.500% 7/15/45        395        361
  Bunge Ltd. Finance Corp.  3.250% 8/15/26      1,293      1,206
  Bunge Ltd. Finance Corp.  3.750% 9/25/27        500        468
  Bunge Ltd. Finance Corp.  2.750% 5/14/31      1,000        821
  Campbell Soup Co.  3.950% 3/15/25        300        293
  Campbell Soup Co.  3.300% 3/19/25        700        674
  Campbell Soup Co.  4.150% 3/15/28        625        597
  Campbell Soup Co.  2.375% 4/24/30        400        332
  Campbell Soup Co.  4.800% 3/15/48        550        489
  Campbell Soup Co.  3.125% 4/24/50        525        355
  Church & Dwight Co. Inc.  3.150% 8/1/27        350        327
  Church & Dwight Co. Inc.  3.950% 8/1/47        325        256
  Church & Dwight Co. Inc.  5.000% 6/15/52        500        469
  Clorox Co.  3.100% 10/1/27        650        601
  Clorox Co.  3.900% 5/15/28        400        382
  Clorox Co.  1.800% 5/15/30      1,100        875
  Coca-Cola Co.  1.750% 9/6/24        775        739
  Coca-Cola Co.  3.375% 3/25/27      1,250      1,199
  Coca-Cola Co.  2.900% 5/25/27      2,088      1,966
  Coca-Cola Co.  1.450% 6/1/27        100         88
  Coca-Cola Co.  1.500% 3/5/28        500        431
  Coca-Cola Co.  1.000% 3/15/28        821        688
  Coca-Cola Co.  2.125% 9/6/29        500        428
  Coca-Cola Co.  3.450% 3/25/30        900        836
  Coca-Cola Co.  1.650% 6/1/30      2,125      1,735
  Coca-Cola Co.  1.375% 3/15/31      1,250        978
  Coca-Cola Co.  2.250% 1/5/32      1,000        838
  Coca-Cola Co.  4.125% 3/25/40        350        312
  Coca-Cola Co.  2.500% 6/1/40      1,300        947
  Coca-Cola Co.  4.200% 3/25/50        525        484
  Coca-Cola Co.  2.600% 6/1/50      1,150        773
  Coca-Cola Co.  3.000% 3/5/51      1,000        731
  Coca-Cola Co.  2.500% 3/15/51      2,225      1,462
  Coca-Cola Co.  2.750% 6/1/60        600        404
  Coca-Cola Consolidated Inc.  3.800% 11/25/25        350        340
  Coca-Cola Femsa SAB de CV  2.750% 1/22/30        600        521
  Coca-Cola Femsa SAB de CV  1.850% 9/1/32        500        379
  Coca-Cola Femsa SAB de CV  5.250% 11/26/43        650        623
7 Colgate-Palmolive Co.  3.250% 3/15/24        825        812
  Colgate-Palmolive Co.  3.100% 8/15/27      1,000        947
  Colgate-Palmolive Co.  3.250% 8/15/32        500        452
7 Colgate-Palmolive Co.  4.000% 8/15/45        550        490
 
60

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Conagra Brands Inc.  4.300% 5/1/24        625        616
  Conagra Brands Inc.  4.600% 11/1/25      1,038      1,021
  Conagra Brands Inc.  7.000% 10/1/28        100        107
  Conagra Brands Inc.  8.250% 9/15/30        250        284
  Conagra Brands Inc.  5.300% 11/1/38        500        473
  Constellation Brands Inc.  4.750% 11/15/24        375        373
  Constellation Brands Inc.  4.400% 11/15/25        400        393
  Constellation Brands Inc.  4.750% 12/1/25        500        499
  Constellation Brands Inc.  3.700% 12/6/26      2,919      2,778
  Constellation Brands Inc.  3.500% 5/9/27        450        421
  Constellation Brands Inc.  3.600% 2/15/28      1,700      1,573
  Constellation Brands Inc.  4.650% 11/15/28        250        242
  Constellation Brands Inc.  3.150% 8/1/29        625        548
  Constellation Brands Inc.  2.875% 5/1/30      1,275      1,084
  Constellation Brands Inc.  2.250% 8/1/31        700        556
  Constellation Brands Inc.  4.500% 5/9/47      1,175        990
  Constellation Brands Inc.  4.100% 2/15/48        275        220
  Constellation Brands Inc.  5.250% 11/15/48      1,075      1,012
  Constellation Brands Inc.  3.750% 5/1/50        275        207
  Costco Wholesale Corp.  2.750% 5/18/24      1,075      1,046
  Costco Wholesale Corp.  3.000% 5/18/27        800        753
  Costco Wholesale Corp.  1.375% 6/20/27      3,970      3,480
  Costco Wholesale Corp.  1.600% 4/20/30      1,000        818
  Costco Wholesale Corp.  1.750% 4/20/32      5,550      4,387
  Delhaize America LLC  9.000% 4/15/31        475        575
  Diageo Capital plc  2.125% 10/24/24      1,100      1,044
  Diageo Capital plc  1.375% 9/29/25        550        505
  Diageo Capital plc  5.300% 10/24/27      1,000      1,023
  Diageo Capital plc  2.375% 10/24/29        800        684
  Diageo Capital plc  2.000% 4/29/30      1,000        823
  Diageo Capital plc  2.125% 4/29/32        675        537
  Diageo Capital plc  5.875% 9/30/36        250        264
  Diageo Capital plc  3.875% 4/29/43        400        329
  Diageo Investment Corp.  7.450% 4/15/35        325        385
  Dollar General Corp.  4.250% 9/20/24        500        494
  Dollar General Corp.  4.150% 11/1/25        500        488
  Dollar General Corp.  3.875% 4/15/27        550        525
  Dollar General Corp.  4.125% 5/1/28        400        381
  Dollar General Corp.  3.500% 4/3/30        900        807
  Dollar General Corp.  5.000% 11/1/32        700        689
  Dollar General Corp.  4.125% 4/3/50        860        689
  Dollar Tree Inc.  4.000% 5/15/25      1,450      1,416
  Dollar Tree Inc.  3.375% 12/1/51        500        336
  Estee Lauder Cos. Inc.  3.150% 3/15/27      2,062      1,954
  Estee Lauder Cos. Inc.  2.375% 12/1/29        525        451
  Estee Lauder Cos. Inc.  2.600% 4/15/30        600        516
  Estee Lauder Cos. Inc.  1.950% 3/15/31        500        404
  Estee Lauder Cos. Inc.  6.000% 5/15/37        150        160
  Estee Lauder Cos. Inc.  4.375% 6/15/45        375        334
  Estee Lauder Cos. Inc.  3.125% 12/1/49        450        325
  Flowers Foods Inc.  3.500% 10/1/26        350        330
  Flowers Foods Inc.  2.400% 3/15/31      1,000        804
  Fomento Economico Mexicano SAB de CV  4.375% 5/10/43        551        452
  Fomento Economico Mexicano SAB de CV  3.500% 1/16/50      2,150      1,506
  General Mills Inc.  3.650% 2/15/24        325        320
  General Mills Inc.  4.200% 4/17/28      1,100      1,063
  General Mills Inc.  2.875% 4/15/30        550        477
  General Mills Inc.  2.250% 10/14/31        750        602
  General Mills Inc.  3.000% 2/1/51        598        408
  GSK Consumer Healthcare Capital US LLC  3.024% 3/24/24        750        728
  GSK Consumer Healthcare Capital US LLC  3.375% 3/24/27      2,500      2,329
  GSK Consumer Healthcare Capital US LLC  3.375% 3/24/29        500        450
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  GSK Consumer Healthcare Capital US LLC  3.625% 3/24/32      3,000      2,643
  Hershey Co.  2.625% 5/1/23        250        248
  Hershey Co.  2.050% 11/15/24        246        234
  Hershey Co.  0.900% 6/1/25        175        160
  Hershey Co.  3.200% 8/21/25        455        438
  Hershey Co.  3.125% 11/15/49        275        197
  Hormel Foods Corp.  0.650% 6/3/24        750        707
  Hormel Foods Corp.  1.700% 6/3/28        500        432
  Hormel Foods Corp.  1.800% 6/11/30        775        632
  Hormel Foods Corp.  3.050% 6/3/51        750        520
  Ingredion Inc.  3.200% 10/1/26        400        375
  Ingredion Inc.  2.900% 6/1/30        600        508
  J M Smucker Co.  3.500% 3/15/25        700        677
  J M Smucker Co.  3.375% 12/15/27        300        277
  J M Smucker Co.  2.375% 3/15/30        350        290
  J M Smucker Co.  2.125% 3/15/32        500        388
  J M Smucker Co.  4.250% 3/15/35        400        357
  J M Smucker Co.  2.750% 9/15/41        250        166
  J M Smucker Co.  4.375% 3/15/45        100         82
10 JBS USA LUX SA  5.125% 2/1/28        500        473
10 JBS USA LUX SA  5.750% 4/1/33      1,000        955
10 JBS USA LUX SA  4.375% 2/2/52      2,600      1,843
10 JBS USA LUX SA  6.500% 12/1/52      1,650      1,569
  Kellogg Co.  3.250% 4/1/26        950        905
  Kellogg Co.  3.400% 11/15/27        950        884
  Kellogg Co.  4.300% 5/15/28        425        413
  Kellogg Co.  2.100% 6/1/30        500        405
7 Kellogg Co.  7.450% 4/1/31        500        569
  Keurig Dr Pepper Inc.  4.417% 5/25/25        209        207
  Keurig Dr Pepper Inc.  3.400% 11/15/25        250        240
  Keurig Dr Pepper Inc.  2.550% 9/15/26        325        298
  Keurig Dr Pepper Inc.  3.430% 6/15/27        375        350
  Keurig Dr Pepper Inc.  3.950% 4/15/29      1,000        929
  Keurig Dr Pepper Inc.  3.200% 5/1/30      2,575      2,241
  Keurig Dr Pepper Inc.  2.250% 3/15/31        500        403
  Keurig Dr Pepper Inc.  4.050% 4/15/32      1,000        910
  Keurig Dr Pepper Inc.  4.500% 11/15/45      1,000        849
  Keurig Dr Pepper Inc.  4.420% 12/15/46        325        269
  Keurig Dr Pepper Inc.  3.800% 5/1/50        575        432
  Keurig Dr Pepper Inc.  3.350% 3/15/51        500        344
  Keurig Dr Pepper Inc.  4.500% 4/15/52      1,500      1,257
  Kimberly-Clark Corp.  3.050% 8/15/25        100         96
  Kimberly-Clark Corp.  2.750% 2/15/26        350        330
  Kimberly-Clark Corp.  1.050% 9/15/27        600        512
  Kimberly-Clark Corp.  3.950% 11/1/28        100         96
  Kimberly-Clark Corp.  3.200% 4/25/29        575        524
  Kimberly-Clark Corp.  3.100% 3/26/30        560        503
  Kimberly-Clark Corp.  2.000% 11/2/31        500        402
  Kimberly-Clark Corp.  5.300% 3/1/41        700        704
  Kimberly-Clark Corp.  3.200% 7/30/46        325        235
  Kimberly-Clark Corp.  3.900% 5/4/47        550        452
  Kimberly-Clark Corp.  2.875% 2/7/50        415        286
  Koninklijke Ahold Delhaize NV  5.700% 10/1/40        153        152
  Kraft Heinz Foods Co.  3.000% 6/1/26      1,850      1,733
  Kraft Heinz Foods Co.  3.875% 5/15/27      1,200      1,147
  Kraft Heinz Foods Co.  3.750% 4/1/30        750        684
  Kraft Heinz Foods Co.  4.250% 3/1/31      1,000        934
  Kraft Heinz Foods Co.  6.875% 1/26/39        400        435
  Kraft Heinz Foods Co.  6.500% 2/9/40        750        794
  Kraft Heinz Foods Co.  5.200% 7/15/45      2,300      2,119
  Kraft Heinz Foods Co.  4.375% 6/1/46      5,175      4,227
  Kraft Heinz Foods Co.  4.875% 10/1/49      1,450      1,265
  Kraft Heinz Foods Co.  5.500% 6/1/50      1,000        960
  Kroger Co.  4.000% 2/1/24        400        395
  Kroger Co.  3.500% 2/1/26        500        477
  Kroger Co.  2.650% 10/15/26        500        459
 
61

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Kroger Co.  4.500% 1/15/29        500        482
7 Kroger Co.  7.700% 6/1/29        200        221
  Kroger Co.  8.000% 9/15/29        750        842
  Kroger Co.  2.200% 5/1/30      1,250      1,011
  Kroger Co.  1.700% 1/15/31      1,250        964
  Kroger Co.  6.900% 4/15/38        300        328
  Kroger Co.  5.400% 7/15/40        250        238
  Kroger Co.  5.000% 4/15/42        650        591
  Kroger Co.  5.150% 8/1/43        350        323
  Kroger Co.  4.450% 2/1/47        679        574
  Kroger Co.  4.650% 1/15/48        925        799
  Kroger Co.  3.950% 1/15/50        700        545
  McCormick & Co. Inc.  3.150% 8/15/24        600        580
  McCormick & Co. Inc.  3.400% 8/15/27        700        653
  McCormick & Co. Inc.  2.500% 4/15/30      2,300      1,921
  McCormick & Co. Inc.  1.850% 2/15/31        500        387
  McCormick & Co. Inc.  4.200% 8/15/47         75         61
  Mead Johnson Nutrition Co.  4.125% 11/15/25      1,235      1,209
  Mead Johnson Nutrition Co.  5.900% 11/1/39        640        665
  Mead Johnson Nutrition Co.  4.600% 6/1/44        750        673
  Molson Coors Beverage Co.  3.000% 7/15/26      1,650      1,532
  Molson Coors Beverage Co.  5.000% 5/1/42      1,150      1,019
  Molson Coors Beverage Co.  4.200% 7/15/46      2,485      1,937
  Mondelez International Inc.  1.500% 5/4/25        400        371
  Mondelez International Inc.  2.625% 3/17/27        700        636
  Mondelez International Inc.  2.750% 4/13/30        896        772
  Mondelez International Inc.  1.500% 2/4/31      1,250        961
  Mondelez International Inc.  3.000% 3/17/32        250        213
  Mondelez International Inc.  1.875% 10/15/32        500        380
  Mondelez International Inc.  2.625% 9/4/50      1,000        633
  PepsiCo Inc.  3.600% 3/1/24      1,675      1,655
  PepsiCo Inc.  2.250% 3/19/25      1,495      1,423
  PepsiCo Inc.  2.750% 4/30/25      1,725      1,652
  PepsiCo Inc.  3.500% 7/17/25      1,425      1,391
  PepsiCo Inc.  2.850% 2/24/26        575        547
  PepsiCo Inc.  2.625% 3/19/27        375        348
  PepsiCo Inc.  3.000% 10/15/27      1,225      1,150
  PepsiCo Inc.  2.750% 3/19/30      1,225      1,084
  PepsiCo Inc.  1.625% 5/1/30      1,725      1,408
  PepsiCo Inc.  1.400% 2/25/31        750        590
  PepsiCo Inc.  3.500% 3/19/40      1,325      1,101
  PepsiCo Inc.  2.625% 10/21/41      1,000        739
  PepsiCo Inc.  4.000% 3/5/42        541        475
  PepsiCo Inc.  3.600% 8/13/42        725        605
  PepsiCo Inc.  4.250% 10/22/44        475        423
  PepsiCo Inc.  4.450% 4/14/46      1,650      1,570
  PepsiCo Inc.  3.450% 10/6/46      1,675      1,345
  PepsiCo Inc.  3.375% 7/29/49        850        673
  PepsiCo Inc.  2.875% 10/15/49        875        630
  PepsiCo Inc.  3.625% 3/19/50        785        647
  PepsiCo Inc.  3.875% 3/19/60        300        259
  Philip Morris International Inc.  2.875% 5/1/24      1,000        971
  Philip Morris International Inc.  5.125% 11/15/24        500        500
  Philip Morris International Inc.  1.500% 5/1/25        950        879
  Philip Morris International Inc.  3.375% 8/11/25        675        648
  Philip Morris International Inc.  5.000% 11/17/25        875        879
  Philip Morris International Inc.  2.750% 2/25/26      1,255      1,178
  Philip Morris International Inc.  0.875% 5/1/26        500        439
  Philip Morris International Inc.  3.125% 8/17/27        425        394
  Philip Morris International Inc.  5.125% 11/17/27      1,375      1,388
  Philip Morris International Inc.  3.125% 3/2/28        400        364
  Philip Morris International Inc.  3.375% 8/15/29        600        541
  Philip Morris International Inc.  5.625% 11/17/29      1,125      1,146
  Philip Morris International Inc.  2.100% 5/1/30      1,575      1,275
  Philip Morris International Inc.  1.750% 11/1/30        500        391
  Philip Morris International Inc.  5.750% 11/17/32      1,960      2,005
  Philip Morris International Inc.  6.375% 5/16/38        575        610
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Philip Morris International Inc.  4.375% 11/15/41      1,175        968
  Philip Morris International Inc.  4.500% 3/20/42        550        464
  Philip Morris International Inc.  3.875% 8/21/42         75         57
  Philip Morris International Inc.  4.125% 3/4/43        875        692
  Philip Morris International Inc.  4.875% 11/15/43        530        466
10 Pilgrim's Pride Corp.  3.500% 3/1/32      1,000        782
  Procter & Gamble Co.  0.550% 10/29/25        800        718
  Procter & Gamble Co.  2.450% 11/3/26        800        741
  Procter & Gamble Co.  2.800% 3/25/27      4,000      3,753
  Procter & Gamble Co.  3.000% 3/25/30      2,055      1,872
  Procter & Gamble Co.  1.200% 10/29/30        625        491
  Procter & Gamble Co.  5.550% 3/5/37        625        677
  Procter & Gamble Co.  3.550% 3/25/40      1,294      1,114
  Procter & Gamble Co.  3.500% 10/25/47        413        336
  Reynolds American Inc.  4.450% 6/12/25      4,231      4,140
  Reynolds American Inc.  5.700% 8/15/35      1,075        973
  Reynolds American Inc.  7.250% 6/15/37        325        333
7 Reynolds American Inc.  8.125% 5/1/40        400        431
7 Reynolds American Inc.  7.000% 8/4/41        150        147
  Reynolds American Inc.  6.150% 9/15/43        400        357
  Reynolds American Inc.  5.850% 8/15/45      1,985      1,695
  Sysco Corp.  3.750% 10/1/25      1,086      1,051
  Sysco Corp.  3.300% 7/15/26        975        921
  Sysco Corp.  3.250% 7/15/27        925        856
  Sysco Corp.  5.950% 4/1/30        564        585
  Sysco Corp.  2.450% 12/14/31        500        401
  Sysco Corp.  6.600% 4/1/40        735        783
  Sysco Corp.  4.850% 10/1/45        125        109
  Sysco Corp.  4.500% 4/1/46        950        795
  Sysco Corp.  4.450% 3/15/48        700        575
  Sysco Corp.  3.300% 2/15/50        425        292
  Sysco Corp.  6.600% 4/1/50        950      1,035
  Sysco Corp.  3.150% 12/14/51        600        398
  Target Corp.  3.500% 7/1/24        877        860
  Target Corp.  2.250% 4/15/25        500        474
  Target Corp.  2.500% 4/15/26      1,075      1,007
  Target Corp.  1.950% 1/15/27        600        545
  Target Corp.  3.375% 4/15/29        850        789
  Target Corp.  2.350% 2/15/30        500        425
  Target Corp.  2.650% 9/15/30      1,750      1,501
  Target Corp.  4.500% 9/15/32        500        486
  Target Corp.  6.500% 10/15/37        450        499
  Target Corp.  7.000% 1/15/38        300        351
  Target Corp.  4.000% 7/1/42        500        438
  Target Corp.  3.625% 4/15/46        500        397
  Target Corp.  2.950% 1/15/52      1,000        692
  Tyson Foods Inc.  3.950% 8/15/24      4,525      4,452
  Tyson Foods Inc.  4.000% 3/1/26        580        561
  Tyson Foods Inc.  3.550% 6/2/27      1,125      1,053
  Tyson Foods Inc.  4.350% 3/1/29      1,145      1,093
  Tyson Foods Inc.  4.875% 8/15/34        425        407
  Tyson Foods Inc.  5.150% 8/15/44        550        510
  Tyson Foods Inc.  5.100% 9/28/48      1,700      1,577
  Unilever Capital Corp.  3.250% 3/7/24      2,600      2,553
  Unilever Capital Corp.  2.600% 5/5/24      1,150      1,116
  Unilever Capital Corp.  0.626% 8/12/24        500        468
  Unilever Capital Corp.  3.375% 3/22/25        250        243
  Unilever Capital Corp.  3.100% 7/30/25        550        529
  Unilever Capital Corp.  2.000% 7/28/26        550        502
  Unilever Capital Corp.  2.125% 9/6/29      1,575      1,331
  Unilever Capital Corp.  1.375% 9/14/30        500        390
  Unilever Capital Corp.  1.750% 8/12/31        500        395
  Unilever Capital Corp.  5.900% 11/15/32        800        864
7 Unilever Capital Corp.  2.625% 8/12/51        500        325
  Walgreens Boots Alliance Inc.  3.800% 11/18/24      1,525      1,487
  Walgreens Boots Alliance Inc.  3.450% 6/1/26      1,475      1,401
  Walgreens Boots Alliance Inc.  3.200% 4/15/30      1,200      1,038
 
62

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Walgreens Boots Alliance Inc.  4.800% 11/18/44      1,205      1,007
  Walmart Inc.  3.300% 4/22/24      1,225      1,201
  Walmart Inc.  2.850% 7/8/24      1,150      1,117
  Walmart Inc.  2.650% 12/15/24        875        842
  Walmart Inc.  3.550% 6/26/25      1,275      1,248
  Walmart Inc.  3.900% 9/9/25        900        887
  Walmart Inc.  3.050% 7/8/26      1,700      1,633
  Walmart Inc.  1.050% 9/17/26        462        409
  Walmart Inc.  1.500% 9/22/28        675        579
  Walmart Inc.  3.250% 7/8/29      1,633      1,525
  Walmart Inc.  2.375% 9/24/29        175        153
  Walmart Inc.  1.800% 9/22/31        462        377
  Walmart Inc.  4.150% 9/9/32      1,000        977
  Walmart Inc.  5.250% 9/1/35        820        863
  Walmart Inc.  6.200% 4/15/38        570        645
  Walmart Inc.  3.950% 6/28/38      2,175      1,997
  Walmart Inc.  5.625% 4/1/40        312        334
  Walmart Inc.  5.000% 10/25/40        235        236
  Walmart Inc.  4.000% 4/11/43      1,920      1,705
  Walmart Inc.  4.300% 4/22/44        700        644
  Walmart Inc.  3.625% 12/15/47      1,300      1,070
  Walmart Inc.  4.050% 6/29/48      1,256      1,123
  Walmart Inc.  2.950% 9/24/49        720        525
  Walmart Inc.  2.650% 9/22/51        700        479
  Walmart Inc.  4.500% 9/9/52        800        763
                                                 344,396
Energy (0.7%)
  Baker Hughes Holdings LLC  2.061% 12/15/26        500        448
  Baker Hughes Holdings LLC  3.337% 12/15/27      1,050        971
  Baker Hughes Holdings LLC  3.138% 11/7/29        650        573
  Baker Hughes Holdings LLC  4.486% 5/1/30        400        382
  Baker Hughes Holdings LLC  5.125% 9/15/40      1,020        948
  Baker Hughes Holdings LLC  4.080% 12/15/47      1,269        996
  Boardwalk Pipelines LP  4.950% 12/15/24        945        935
  Boardwalk Pipelines LP  5.950% 6/1/26        425        431
  Boardwalk Pipelines LP  4.800% 5/3/29        100         94
  Boardwalk Pipelines LP  3.600% 9/1/32        500        415
  BP Capital Markets America Inc.  3.796% 9/21/25      1,614      1,585
  BP Capital Markets America Inc.  3.410% 2/11/26        800        769
7 BP Capital Markets America Inc.  3.119% 5/4/26      2,800      2,655
7 BP Capital Markets America Inc.  3.017% 1/16/27      1,800      1,678
  BP Capital Markets America Inc.  3.937% 9/21/28      1,800      1,720
  BP Capital Markets America Inc.  3.633% 4/6/30      2,600      2,385
  BP Capital Markets America Inc.  1.749% 8/10/30        900        718
  BP Capital Markets America Inc.  2.721% 1/12/32        900        753
  BP Capital Markets America Inc.  3.060% 6/17/41      1,000        746
  BP Capital Markets America Inc.  3.000% 2/24/50      2,200      1,492
  BP Capital Markets America Inc.  2.772% 11/10/50      1,450        926
  BP Capital Markets America Inc.  2.939% 6/4/51      1,900      1,254
  BP Capital Markets America Inc.  3.001% 3/17/52      1,200        799
  BP Capital Markets America Inc.  3.379% 2/8/61      1,900      1,314
  BP Capital Markets plc  3.279% 9/19/27      2,135      2,006
  BP Capital Markets plc  3.723% 11/28/28        685        649
  Burlington Resources LLC  7.400% 12/1/31        600        689
  Canadian Natural Resources Ltd.  3.800% 4/15/24        400        393
  Canadian Natural Resources Ltd.  3.900% 2/1/25        500        486
  Canadian Natural Resources Ltd.  2.050% 7/15/25        400        372
  Canadian Natural Resources Ltd.  3.850% 6/1/27      2,000      1,888
  Canadian Natural Resources Ltd.  2.950% 7/15/30      1,500      1,265
  Canadian Natural Resources Ltd.  7.200% 1/15/32        475        514
  Canadian Natural Resources Ltd.  6.450% 6/30/33        400        408
  Canadian Natural Resources Ltd.  5.850% 2/1/35        700        675
  Canadian Natural Resources Ltd.  6.500% 2/15/37        700        697
  Canadian Natural Resources Ltd.  6.250% 3/15/38      1,000        995
  Canadian Natural Resources Ltd.  6.750% 2/1/39        325        336
7 Canadian Natural Resources Ltd.  4.950% 6/1/47         90         79
  Cenovus Energy Inc.  4.250% 4/15/27        350        335
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Cenovus Energy Inc.  2.650% 1/15/32        450        359
  Cenovus Energy Inc.  5.250% 6/15/37      1,000        916
  Cenovus Energy Inc.  6.800% 9/15/37        300        308
  Cenovus Energy Inc.  6.750% 11/15/39        678        702
  Cenovus Energy Inc.  5.400% 6/15/47        925        836
  Cenovus Energy Inc.  3.750% 2/15/52        700        494
  Cheniere Corpus Christi Holdings LLC  7.000% 6/30/24      1,200      1,221
  Cheniere Corpus Christi Holdings LLC  5.875% 3/31/25      1,750      1,760
  Cheniere Corpus Christi Holdings LLC  5.125% 6/30/27      2,250      2,227
  Cheniere Corpus Christi Holdings LLC  3.700% 11/15/29      1,150      1,043
  Cheniere Corpus Christi Holdings LLC  2.742% 12/31/39        600        466
  Cheniere Energy Partners LP  4.500% 10/1/29      1,300      1,170
  Cheniere Energy Partners LP  4.000% 3/1/31      1,629      1,395
  Cheniere Energy Partners LP  3.250% 1/31/32      1,250        996
  Chevron Corp.  2.895% 3/3/24        200        196
  Chevron Corp.  1.554% 5/11/25      3,150      2,931
  Chevron Corp.  3.326% 11/17/25        200        193
  Chevron Corp.  1.995% 5/11/27        500        449
  Chevron Corp.  2.236% 5/11/30      2,200      1,884
  Chevron Corp.  3.078% 5/11/50        900        655
  Chevron USA Inc.  0.687% 8/12/25        500        452
  Chevron USA Inc.  1.018% 8/12/27        500        429
  Chevron USA Inc.  3.850% 1/15/28        450        435
  Chevron USA Inc.  3.250% 10/15/29      1,000        917
  Chevron USA Inc.  5.250% 11/15/43        450        451
  Chevron USA Inc.  2.343% 8/12/50        500        313
  CNOOC Finance 2013 Ltd.  4.250% 5/9/43      1,300      1,044
  CNOOC Finance 2013 Ltd.  3.300% 9/30/49        600        395
  CNOOC Finance 2014 ULC  4.250% 4/30/24        200        198
  CNOOC Finance 2014 ULC  4.875% 4/30/44        200        176
  CNOOC Finance 2015 USA LLC  4.375% 5/2/28      1,125      1,101
  CNOOC Petroleum North America ULC  7.875% 3/15/32        800        939
  CNOOC Petroleum North America ULC  5.875% 3/10/35        500        495
  CNOOC Petroleum North America ULC  6.400% 5/15/37      1,075      1,104
  CNOOC Petroleum North America ULC  7.500% 7/30/39        400        459
  Columbia Pipeline Group Inc.  4.500% 6/1/25      1,045      1,030
  Columbia Pipeline Group Inc.  5.800% 6/1/45        672        651
  ConocoPhillips  4.300% 8/15/28        500        479
  ConocoPhillips  2.400% 2/15/31        500        406
  ConocoPhillips  5.900% 10/15/32        400        427
  ConocoPhillips  5.900% 5/15/38      1,255      1,325
  ConocoPhillips  6.500% 2/1/39        975      1,096
  ConocoPhillips  4.875% 10/1/47        777        718
  ConocoPhillips Co.  2.125% 3/8/24        750        726
  ConocoPhillips Co.  3.350% 11/15/24        200        195
  ConocoPhillips Co.  2.400% 3/7/25        500        475
  ConocoPhillips Co.  6.950% 4/15/29        656        725
  ConocoPhillips Co.  3.758% 3/15/42        719        602
  ConocoPhillips Co.  4.300% 11/15/44        750        650
  ConocoPhillips Co.  3.800% 3/15/52        500        397
  ConocoPhillips Co.  4.025% 3/15/62      1,675      1,337
  Continental Resources Inc.  4.375% 1/15/28        600        546
  Continental Resources Inc.  4.900% 6/1/44        250        184
  Coterra Energy Inc.  3.900% 5/15/27        700        654
  Coterra Energy Inc.  4.375% 3/15/29        600        564
  DCP Midstream Operating LP  5.375% 7/15/25        254        252
  DCP Midstream Operating LP  5.625% 7/15/27        195        194
  DCP Midstream Operating LP  5.125% 5/15/29        465        448
  DCP Midstream Operating LP  3.250% 2/15/32        263        217
 
63

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  DCP Midstream Operating LP  5.600% 4/1/44        400        372
  Devon Energy Corp.  5.250% 9/15/24        600        600
  Devon Energy Corp.  5.850% 12/15/25        300        306
  Devon Energy Corp.  5.250% 10/15/27        360        358
  Devon Energy Corp.  5.875% 6/15/28        260        263
  Devon Energy Corp.  4.500% 1/15/30        518        483
  Devon Energy Corp.  7.875% 9/30/31        590        669
  Devon Energy Corp.  7.950% 4/15/32        245        280
  Devon Energy Corp.  5.600% 7/15/41      1,310      1,224
  Devon Energy Corp.  4.750% 5/15/42        600        509
  Devon Energy Corp.  5.000% 6/15/45        700        602
  Diamondback Energy Inc.  3.250% 12/1/26        700        652
  Diamondback Energy Inc.  3.500% 12/1/29      1,100        965
  Diamondback Energy Inc.  3.125% 3/24/31        875        725
  Diamondback Energy Inc.  6.250% 3/15/33        750        762
  Diamondback Energy Inc.  4.400% 3/24/51        500        382
  Diamondback Energy Inc.  4.250% 3/15/52        700        519
  Diamondback Energy Inc.  6.250% 3/15/53        550        534
7 Eastern Gas Transmission & Storage Inc.  3.600% 12/15/24         83         80
  Eastern Gas Transmission & Storage Inc.  3.000% 11/15/29      1,000        865
7 Eastern Gas Transmission & Storage Inc.  4.800% 11/1/43        325        281
7 Eastern Gas Transmission & Storage Inc.  4.600% 12/15/44        400        329
7 Enbridge Energy Partners LP  7.500% 4/15/38        300        330
  Enbridge Energy Partners LP  5.500% 9/15/40        575        538
  Enbridge Energy Partners LP  7.375% 10/15/45        800        895
  Enbridge Inc.  2.150% 2/16/24        250        241
  Enbridge Inc.  3.500% 6/10/24        500        486
  Enbridge Inc.  2.500% 1/15/25        715        677
  Enbridge Inc.  2.500% 2/14/25        250        236
  Enbridge Inc.  1.600% 10/4/26        500        438
  Enbridge Inc.  4.250% 12/1/26      1,000        963
  Enbridge Inc.  3.700% 7/15/27        800        750
  Enbridge Inc.  3.125% 11/15/29        825        719
  Enbridge Inc.  2.500% 8/1/33        900        693
  Enbridge Inc.  4.500% 6/10/44        925        767
  Enbridge Inc.  5.500% 12/1/46        300        283
  Enbridge Inc.  4.000% 11/15/49        325        248
  Enbridge Inc.  3.400% 8/1/51      1,000        683
  Energy Transfer LP  4.250% 4/1/24        900        884
  Energy Transfer LP  3.900% 5/15/24        625        609
  Energy Transfer LP  4.050% 3/15/25      2,091      2,026
  Energy Transfer LP  2.900% 5/15/25        375        353
  Energy Transfer LP  5.950% 12/1/25      1,878      1,906
  Energy Transfer LP  4.750% 1/15/26        300        293
  Energy Transfer LP  4.400% 3/15/27        800        761
7 Energy Transfer LP  5.500% 6/1/27      1,000        994
  Energy Transfer LP  5.550% 2/15/28        300        297
  Energy Transfer LP  4.950% 5/15/28        800        768
  Energy Transfer LP  5.250% 4/15/29      1,300      1,260
  Energy Transfer LP  4.150% 9/15/29        550        496
  Energy Transfer LP  3.750% 5/15/30      1,775      1,565
  Energy Transfer LP  5.750% 2/15/33        400        392
  Energy Transfer LP  4.900% 3/15/35        250        223
  Energy Transfer LP  6.625% 10/15/36        350        352
7 Energy Transfer LP  5.800% 6/15/38      1,080        992
  Energy Transfer LP  7.500% 7/1/38        800        851
  Energy Transfer LP  6.050% 6/1/41        875        828
  Energy Transfer LP  6.500% 2/1/42        300        296
  Energy Transfer LP  5.150% 2/1/43        425        354
  Energy Transfer LP  5.300% 4/1/44        950        804
  Energy Transfer LP  5.000% 5/15/44        450        368
  Energy Transfer LP  5.150% 3/15/45        150        125
  Energy Transfer LP  5.350% 5/15/45      1,525      1,300
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Energy Transfer LP  6.125% 12/15/45      1,050        974
  Energy Transfer LP  5.300% 4/15/47      1,705      1,426
  Energy Transfer LP  5.400% 10/1/47        700        596
  Energy Transfer LP  6.000% 6/15/48      1,350      1,218
  Energy Transfer LP  6.250% 4/15/49      1,200      1,121
  Energy Transfer LP  5.000% 5/15/50      1,900      1,534
  Enterprise Products Operating LLC  3.900% 2/15/24        750        739
  Enterprise Products Operating LLC  3.750% 2/15/25        825        802
  Enterprise Products Operating LLC  3.700% 2/15/26        400        385
  Enterprise Products Operating LLC  3.125% 7/31/29      2,300      2,025
  Enterprise Products Operating LLC  2.800% 1/31/30      1,226      1,044
7 Enterprise Products Operating LLC  6.875% 3/1/33      1,375      1,503
  Enterprise Products Operating LLC  7.550% 4/15/38        300        335
  Enterprise Products Operating LLC  5.950% 2/1/41        470        469
  Enterprise Products Operating LLC  4.850% 8/15/42        850        753
  Enterprise Products Operating LLC  4.450% 2/15/43      1,000        840
  Enterprise Products Operating LLC  4.850% 3/15/44      1,780      1,563
  Enterprise Products Operating LLC  5.100% 2/15/45        982        887
  Enterprise Products Operating LLC  4.900% 5/15/46        500        438
  Enterprise Products Operating LLC  4.250% 2/15/48      1,550      1,250
  Enterprise Products Operating LLC  4.800% 2/1/49      1,000        864
  Enterprise Products Operating LLC  4.200% 1/31/50      1,100        867
  Enterprise Products Operating LLC  3.700% 1/31/51      1,000        727
  Enterprise Products Operating LLC  3.200% 2/15/52        500        330
  Enterprise Products Operating LLC  3.300% 2/15/53        950        634
  Enterprise Products Operating LLC  4.950% 10/15/54        300        255
  Enterprise Products Operating LLC  3.950% 1/31/60      1,600      1,163
7 Enterprise Products Operating LLC  5.250% 8/16/77        400        327
7 Enterprise Products Operating LLC  5.375% 2/15/78      1,225        944
  EOG Resources Inc.  4.150% 1/15/26        600        589
  EOG Resources Inc.  4.950% 4/15/50        700        670
  EQT Corp.  6.125% 2/1/25        600        602
  EQT Corp.  5.678% 10/1/25        225        225
  EQT Corp.  3.900% 10/1/27        300        277
  EQT Corp.  5.700% 4/1/28        250        249
  EQT Corp.  7.000% 2/1/30      1,000      1,036
  Exxon Mobil Corp.  3.176% 3/15/24      2,000      1,962
  Exxon Mobil Corp.  2.992% 3/19/25      5,775      5,567
  Exxon Mobil Corp.  3.043% 3/1/26      1,350      1,289
  Exxon Mobil Corp.  2.275% 8/16/26        400        370
  Exxon Mobil Corp.  3.294% 3/19/27      1,100      1,055
  Exxon Mobil Corp.  2.440% 8/16/29      1,000        875
  Exxon Mobil Corp.  3.482% 3/19/30      1,425      1,328
  Exxon Mobil Corp.  2.610% 10/15/30      1,875      1,637
  Exxon Mobil Corp.  2.995% 8/16/39      1,965      1,512
  Exxon Mobil Corp.  4.227% 3/19/40      3,550      3,195
  Exxon Mobil Corp.  3.567% 3/6/45        750        591
 
64

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Exxon Mobil Corp.  4.114% 3/1/46      1,000        855
  Exxon Mobil Corp.  3.095% 8/16/49      1,269        912
  Exxon Mobil Corp.  4.327% 3/19/50      2,300      2,034
  Exxon Mobil Corp.  3.452% 4/15/51      2,600      1,971
  Halliburton Co.  3.800% 11/15/25        354        344
  Halliburton Co.  4.850% 11/15/35      1,000        926
  Halliburton Co.  6.700% 9/15/38      1,070      1,135
  Halliburton Co.  4.500% 11/15/41        675        563
  Halliburton Co.  4.750% 8/1/43        725        620
  Halliburton Co.  5.000% 11/15/45      1,409      1,249
  Helmerich & Payne Inc.  2.900% 9/29/31        565        457
  Hess Corp.  3.500% 7/15/24        245        238
  Hess Corp.  4.300% 4/1/27      1,000        957
  Hess Corp.  7.300% 8/15/31        485        527
  Hess Corp.  7.125% 3/15/33        415        447
  Hess Corp.  6.000% 1/15/40        722        712
  Hess Corp.  5.600% 2/15/41      1,100      1,042
  Hess Corp.  5.800% 4/1/47        500        479
  HF Sinclair Corp.  5.875% 4/1/26        860        862
  HF Sinclair Corp.  4.500% 10/1/30        900        788
  Kinder Morgan Energy Partners LP  4.300% 5/1/24      1,625      1,604
  Kinder Morgan Energy Partners LP  4.250% 9/1/24        850        836
  Kinder Morgan Energy Partners LP  7.300% 8/15/33        175        189
  Kinder Morgan Energy Partners LP  5.800% 3/15/35        300        294
  Kinder Morgan Energy Partners LP  6.500% 2/1/37        400        405
7 Kinder Morgan Energy Partners LP  6.950% 1/15/38        335        356
  Kinder Morgan Energy Partners LP  6.500% 9/1/39      1,625      1,656
  Kinder Morgan Energy Partners LP  6.550% 9/15/40      1,290      1,297
  Kinder Morgan Energy Partners LP  7.500% 11/15/40        300        330
  Kinder Morgan Energy Partners LP  4.700% 11/1/42      1,822      1,509
  Kinder Morgan Energy Partners LP  5.000% 3/1/43        500        428
  Kinder Morgan Energy Partners LP  5.500% 3/1/44        500        454
  Kinder Morgan Inc.  4.300% 6/1/25        817        802
  Kinder Morgan Inc.  1.750% 11/15/26        500        441
  Kinder Morgan Inc.  4.300% 3/1/28      1,080      1,035
  Kinder Morgan Inc.  2.000% 2/15/31        500        388
7 Kinder Morgan Inc.  7.800% 8/1/31        330        368
7 Kinder Morgan Inc.  7.750% 1/15/32      1,025      1,153
  Kinder Morgan Inc.  5.300% 12/1/34      1,325      1,240
  Kinder Morgan Inc.  5.550% 6/1/45      1,375      1,260
  Kinder Morgan Inc.  5.050% 2/15/46        200        170
  Kinder Morgan Inc.  3.250% 8/1/50        500        324
  Kinder Morgan Inc.  3.600% 2/15/51      1,025        709
  Magellan Midstream Partners LP  5.000% 3/1/26        450        448
  Magellan Midstream Partners LP  3.250% 6/1/30      1,000        872
  Magellan Midstream Partners LP  5.150% 10/15/43        350        305
  Magellan Midstream Partners LP  4.250% 9/15/46        300        226
  Magellan Midstream Partners LP  4.200% 10/3/47        725        547
  Magellan Midstream Partners LP  4.850% 2/1/49        200        166
  Magellan Midstream Partners LP  3.950% 3/1/50        625        461
  Marathon Oil Corp.  4.400% 7/15/27      1,350      1,289
  Marathon Oil Corp.  6.800% 3/15/32        530        546
  Marathon Oil Corp.  6.600% 10/1/37        650        648
  Marathon Oil Corp.  5.200% 6/1/45        200        171
  Marathon Petroleum Corp.  4.700% 5/1/25      1,000        985
  Marathon Petroleum Corp.  5.125% 12/15/26      1,035      1,031
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Marathon Petroleum Corp.  3.800% 4/1/28      1,150      1,063
  Marathon Petroleum Corp.  6.500% 3/1/41      1,075      1,109
  Marathon Petroleum Corp.  4.750% 9/15/44        200        167
  Marathon Petroleum Corp.  4.500% 4/1/48        900        715
  Marathon Petroleum Corp.  5.000% 9/15/54        325        273
  MPLX LP  4.875% 12/1/24        838        830
  MPLX LP  4.875% 6/1/25      3,085      3,049
  MPLX LP  1.750% 3/1/26        600        536
  MPLX LP  4.250% 12/1/27      1,010        954
  MPLX LP  4.000% 3/15/28        950        885
  MPLX LP  4.800% 2/15/29        500        478
  MPLX LP  2.650% 8/15/30      3,000      2,434
  MPLX LP  4.950% 9/1/32        371        348
  MPLX LP  4.500% 4/15/38      1,575      1,324
  MPLX LP  5.200% 3/1/47      1,950      1,658
  MPLX LP  5.200% 12/1/47        500        426
  MPLX LP  4.700% 4/15/48      1,200        957
  MPLX LP  5.500% 2/15/49      1,775      1,570
  NOV Inc.  3.600% 12/1/29        500        440
  NOV Inc.  3.950% 12/1/42        800        558
  ONEOK Inc.  2.750% 9/1/24        200        192
  ONEOK Inc.  5.850% 1/15/26      1,000      1,014
  ONEOK Inc.  4.000% 7/13/27      1,150      1,083
  ONEOK Inc.  4.550% 7/15/28        800        756
  ONEOK Inc.  3.400% 9/1/29      1,810      1,565
  ONEOK Inc.  3.100% 3/15/30      1,000        839
  ONEOK Inc.  6.350% 1/15/31      1,000      1,019
  ONEOK Inc.  4.950% 7/13/47        775        629
  ONEOK Inc.  5.200% 7/15/48        650        545
  ONEOK Inc.  4.450% 9/1/49        800        599
  ONEOK Inc.  4.500% 3/15/50        400        300
  ONEOK Partners LP  4.900% 3/15/25        450        444
  ONEOK Partners LP  6.650% 10/1/36        360        361
  ONEOK Partners LP  6.850% 10/15/37        300        304
  ONEOK Partners LP  6.125% 2/1/41      1,340      1,272
  Ovintiv Exploration Inc.  5.375% 1/1/26        100         99
  Ovintiv Inc.  7.375% 11/1/31        450        483
  Ovintiv Inc.  6.500% 8/15/34        700        708
  Ovintiv Inc.  6.625% 8/15/37      1,000      1,007
  Ovintiv Inc.  6.500% 2/1/38        500        496
  Phillips 66  0.900% 2/15/24      1,000        957
  Phillips 66  3.850% 4/9/25        600        585
  Phillips 66  1.300% 2/15/26        500        447
  Phillips 66  3.900% 3/15/28        600        567
  Phillips 66  2.150% 12/15/30        800        640
  Phillips 66  4.650% 11/15/34      1,000        933
  Phillips 66  4.875% 11/15/44      1,750      1,608
  Phillips 66  3.300% 3/15/52        900        624
10 Phillips 66 Co.  2.450% 12/15/24        250        235
10 Phillips 66 Co.  3.605% 2/15/25        600        581
10 Phillips 66 Co.  3.550% 10/1/26        425        399
10 Phillips 66 Co.  3.750% 3/1/28        400        369
10 Phillips 66 Co.  3.150% 12/15/29        250        218
10 Phillips 66 Co.  4.680% 2/15/45      1,080        939
  Pioneer Natural Resources Co.  1.125% 1/15/26        500        446
  Pioneer Natural Resources Co.  1.900% 8/15/30      1,025        804
  Pioneer Natural Resources Co.  2.150% 1/15/31        975        773
  Plains All American Pipeline LP  3.600% 11/1/24      2,155      2,087
  Plains All American Pipeline LP  4.650% 10/15/25        600        587
  Plains All American Pipeline LP  4.500% 12/15/26        350        337
  Plains All American Pipeline LP  3.550% 12/15/29      1,200      1,043
  Plains All American Pipeline LP  3.800% 9/15/30        525        456
  Plains All American Pipeline LP  6.650% 1/15/37        500        493
  Plains All American Pipeline LP  5.150% 6/1/42        500        406
  Plains All American Pipeline LP  4.700% 6/15/44        500        378
  Plains All American Pipeline LP  4.900% 2/15/45        500        390
  Sabine Pass Liquefaction LLC  5.750% 5/15/24      1,470      1,471
 
65

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Sabine Pass Liquefaction LLC  5.625% 3/1/25      3,225      3,233
  Sabine Pass Liquefaction LLC  5.875% 6/30/26      1,200      1,214
  Sabine Pass Liquefaction LLC  5.000% 3/15/27      1,600      1,570
  Sabine Pass Liquefaction LLC  4.200% 3/15/28      1,200      1,128
  Sabine Pass Liquefaction LLC  4.500% 5/15/30      2,500      2,322
10 Sabine Pass Liquefaction LLC  5.900% 9/15/37        500        499
  Schlumberger Finance Canada Ltd.  1.400% 9/17/25        600        550
  Schlumberger Investment SA  2.650% 6/26/30      1,300      1,114
  Shell International Finance BV  2.000% 11/7/24        925        880
  Shell International Finance BV  3.250% 5/11/25      2,625      2,544
  Shell International Finance BV  2.875% 5/10/26      1,300      1,225
  Shell International Finance BV  2.500% 9/12/26        505        468
  Shell International Finance BV  3.875% 11/13/28      1,300      1,251
  Shell International Finance BV  2.375% 11/7/29      1,450      1,254
  Shell International Finance BV  2.750% 4/6/30      2,405      2,114
  Shell International Finance BV  4.125% 5/11/35      3,125      2,894
  Shell International Finance BV  6.375% 12/15/38      1,320      1,457
  Shell International Finance BV  5.500% 3/25/40        700        715
  Shell International Finance BV  2.875% 11/26/41        500        364
  Shell International Finance BV  3.625% 8/21/42        525        423
  Shell International Finance BV  4.550% 8/12/43      1,100        994
  Shell International Finance BV  4.375% 5/11/45      2,900      2,540
  Shell International Finance BV  4.000% 5/10/46      2,000      1,647
  Shell International Finance BV  3.125% 11/7/49      1,400        989
  Shell International Finance BV  3.250% 4/6/50      1,735      1,259
  Shell International Finance BV  3.000% 11/26/51        950        647
  Spectra Energy Partners LP  4.750% 3/15/24        800        795
  Spectra Energy Partners LP  3.500% 3/15/25      1,666      1,603
  Spectra Energy Partners LP  3.375% 10/15/26        950        887
  Spectra Energy Partners LP  5.950% 9/25/43        400        387
  Spectra Energy Partners LP  4.500% 3/15/45        220        181
  Suncor Energy Inc.  7.150% 2/1/32        500        537
  Suncor Energy Inc.  6.800% 5/15/38        700        735
  Suncor Energy Inc.  6.500% 6/15/38      2,090      2,149
  Suncor Energy Inc.  4.000% 11/15/47        700        532
  Suncor Energy Inc.  3.750% 3/4/51        700        507
  Targa Resources Corp.  4.200% 2/1/33        700        603
  Targa Resources Corp.  4.950% 4/15/52        700        556
  Targa Resources Partners LP  6.500% 7/15/27        300        303
  Targa Resources Partners LP  5.000% 1/15/28        600        573
  Targa Resources Partners LP  6.875% 1/15/29        600        606
  Targa Resources Partners LP  5.500% 3/1/30        900        848
  Targa Resources Partners LP  4.875% 2/1/31        900        813
  Targa Resources Partners LP  4.000% 1/15/32        940        790
  TC PipeLines LP  3.900% 5/25/27        200        189
  Tennessee Gas Pipeline Co. LLC  7.000% 3/15/27        260        275
  Tennessee Gas Pipeline Co. LLC  7.000% 10/15/28        500        534
  TotalEnergies Capital International SA  3.700% 1/15/24        975        962
  TotalEnergies Capital International SA  2.434% 1/10/25        700        669
  TotalEnergies Capital International SA  3.455% 2/19/29        425        395
  TotalEnergies Capital International SA  2.829% 1/10/30        900        795
  TotalEnergies Capital International SA  3.127% 5/29/50      2,300      1,635
  TotalEnergies Capital International SA  3.386% 6/29/60        500        351
  TransCanada PipeLines Ltd.  1.000% 10/12/24        800        741
  TransCanada PipeLines Ltd.  4.250% 5/15/28      1,700      1,615
  TransCanada PipeLines Ltd.  4.100% 4/15/30      1,900      1,742
  TransCanada PipeLines Ltd.  2.500% 10/12/31        700        556
  TransCanada PipeLines Ltd.  4.625% 3/1/34      1,900      1,735
  TransCanada PipeLines Ltd.  5.600% 3/31/34        800        789
  TransCanada PipeLines Ltd.  5.850% 3/15/36        625        617
  TransCanada PipeLines Ltd.  6.200% 10/15/37      1,650      1,684
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  TransCanada PipeLines Ltd.  4.750% 5/15/38        500        446
  TransCanada PipeLines Ltd.  7.250% 8/15/38        600        665
  TransCanada PipeLines Ltd.  6.100% 6/1/40        830        835
  TransCanada PipeLines Ltd.  5.000% 10/16/43        850        754
  TransCanada PipeLines Ltd.  4.875% 5/15/48      1,800      1,576
  Transcontinental Gas Pipe Line Co. LLC  4.000% 3/15/28        300        282
  Transcontinental Gas Pipe Line Co. LLC  3.250% 5/15/30      1,000        869
  Transcontinental Gas Pipe Line Co. LLC  4.600% 3/15/48        400        334
  Transcontinental Gas Pipe Line Co. LLC  3.950% 5/15/50        500        383
  Valero Energy Corp.  2.150% 9/15/27        517        454
  Valero Energy Corp.  4.350% 6/1/28        315        304
  Valero Energy Corp.  2.800% 12/1/31        400        326
  Valero Energy Corp.  7.500% 4/15/32        850        956
  Valero Energy Corp.  6.625% 6/15/37      1,355      1,449
  Valero Energy Corp.  3.650% 12/1/51        875        620
  Valero Energy Partners LP  4.500% 3/15/28        400        388
  Williams Cos. Inc.  4.550% 6/24/24      2,500      2,472
  Williams Cos. Inc.  3.900% 1/15/25      1,775      1,730
  Williams Cos. Inc.  4.000% 9/15/25      1,125      1,093
  Williams Cos. Inc.  3.750% 6/15/27      1,325      1,249
  Williams Cos. Inc.  3.500% 11/15/30      2,100      1,840
  Williams Cos. Inc.  2.600% 3/15/31      1,000        811
  Williams Cos. Inc.  4.650% 8/15/32        487        454
  Williams Cos. Inc.  6.300% 4/15/40        990      1,014
  Williams Cos. Inc.  5.800% 11/15/43        925        881
  Williams Cos. Inc.  5.400% 3/4/44        800        730
  Williams Cos. Inc.  5.750% 6/24/44        600        572
  Williams Cos. Inc.  4.900% 1/15/45        725        617
  Williams Cos. Inc.  5.100% 9/15/45        900        787
  Williams Cos. Inc.  4.850% 3/1/48        475        405
  Williams Cos. Inc.  3.500% 10/15/51        400        274
  Williams Cos. Inc.  5.300% 8/15/52        400        360
                                                 353,264
Financials (3.2%)
  ACE Capital Trust II  9.700% 4/1/30         75         93
7 Aegon NV  5.500% 4/11/48        585        527
  AerCap Ireland Capital DAC  3.150% 2/15/24        500        485
  AerCap Ireland Capital DAC  1.650% 10/29/24      3,500      3,232
  AerCap Ireland Capital DAC  6.500% 7/15/25      3,763      3,823
  AerCap Ireland Capital DAC  4.450% 10/1/25        500        481
  AerCap Ireland Capital DAC  1.750% 1/30/26        500        441
  AerCap Ireland Capital DAC  4.450% 4/3/26      3,000      2,876
  AerCap Ireland Capital DAC  2.450% 10/29/26      3,500      3,061
  AerCap Ireland Capital DAC  3.650% 7/21/27        875        793
  AerCap Ireland Capital DAC  4.625% 10/15/27        500        465
  AerCap Ireland Capital DAC  3.875% 1/23/28      1,000        902
  AerCap Ireland Capital DAC  3.000% 10/29/28      4,000      3,357
  AerCap Ireland Capital DAC  3.300% 1/30/32      4,000      3,125
  AerCap Ireland Capital DAC  3.850% 10/29/41      3,000      2,119
  Affiliated Managers Group Inc.  4.250% 2/15/24        350        346
  Affiliated Managers Group Inc.  3.500% 8/1/25        725        697
  Affiliated Managers Group Inc.  3.300% 6/15/30        500        417
  Aflac Inc.  2.875% 10/15/26        884        822
  Aflac Inc.  3.600% 4/1/30      1,000        905
  Aflac Inc.  4.000% 10/15/46        150        115
  Aflac Inc.  4.750% 1/15/49      1,080        964
7 Air Lease Corp.  4.250% 2/1/24        550        540
  Air Lease Corp.  0.800% 8/18/24        500        461
  Air Lease Corp.  4.250% 9/15/24        475        465
7 Air Lease Corp.  2.300% 2/1/25      1,175      1,095
  Air Lease Corp.  3.250% 3/1/25        600        570
  Air Lease Corp.  3.375% 7/1/25        750        707
  Air Lease Corp.  1.875% 8/15/26        750        653
 
66

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Air Lease Corp.  2.200% 1/15/27        600        524
  Air Lease Corp.  3.625% 4/1/27        200        182
  Air Lease Corp.  3.625% 12/1/27      1,000        905
  Air Lease Corp.  2.100% 9/1/28        500        408
  Air Lease Corp.  4.625% 10/1/28        300        281
  Air Lease Corp.  3.250% 10/1/29        595        506
7 Air Lease Corp.  3.000% 2/1/30        625        523
  Air Lease Corp.  3.125% 12/1/30      1,250      1,035
  Air Lease Corp.  2.875% 1/15/32        600        479
  Aircastle Ltd.  4.125% 5/1/24      1,625      1,571
  Aircastle Ltd.  4.250% 6/15/26        500        471
  Alleghany Corp.  4.900% 9/15/44        300        276
  Alleghany Corp.  3.250% 8/15/51      1,250        886
  Allied World Assurance Co. Holdings Ltd.  4.350% 10/29/25        350        334
  Allstate Corp.  3.280% 12/15/26        400        380
  Allstate Corp.  1.450% 12/15/30        500        381
  Allstate Corp.  5.550% 5/9/35        105        107
  Allstate Corp.  4.500% 6/15/43        725        642
  Allstate Corp.  4.200% 12/15/46        600        497
  Allstate Corp.  3.850% 8/10/49        400        311
7 Allstate Corp.  6.500% 5/15/57        650        631
  Ally Financial Inc.  1.450% 10/2/23      2,045      1,981
  Ally Financial Inc.  3.875% 5/21/24      1,200      1,170
  Ally Financial Inc.  5.125% 9/30/24        550        545
  Ally Financial Inc.  5.800% 5/1/25        600        598
  Ally Financial Inc.  4.750% 6/9/27        500        470
  Ally Financial Inc.  7.100% 11/15/27        500        510
7 Ally Financial Inc.  8.000% 11/1/31      2,308      2,381
  American Equity Investment Life Holding Co.  5.000% 6/15/27        300        285
  American Express Co.  3.400% 2/22/24      1,000        982
  American Express Co.  2.500% 7/30/24      1,065      1,025
  American Express Co.  3.000% 10/30/24      1,200      1,162
  American Express Co.  3.625% 12/5/24      1,404      1,368
  American Express Co.  4.200% 11/6/25      1,212      1,198
  American Express Co.  2.550% 3/4/27      5,316      4,841
  American Express Co.  3.300% 5/3/27      1,960      1,834
  American Express Co.  4.420% 8/3/33      1,500      1,422
  American Express Co.  4.050% 12/3/42        621        534
  American Financial Group Inc.  5.250% 4/2/30        356        349
  American Financial Group Inc.  4.500% 6/15/47        500        398
  American International Group Inc.  4.125% 2/15/24        390        386
  American International Group Inc.  2.500% 6/30/25      1,203      1,133
  American International Group Inc.  3.900% 4/1/26        500        484
  American International Group Inc.  4.200% 4/1/28        450        427
  American International Group Inc.  4.250% 3/15/29        300        281
  American International Group Inc.  3.400% 6/30/30      1,115        984
  American International Group Inc.  3.875% 1/15/35        400        348
  American International Group Inc.  4.700% 7/10/35        195        175
  American International Group Inc.  6.250% 5/1/36        600        633
  American International Group Inc.  4.500% 7/16/44      1,488      1,286
  American International Group Inc.  4.800% 7/10/45      1,000        894
  American International Group Inc.  4.750% 4/1/48        545        487
7 American International Group Inc.  5.750% 4/1/48        525        502
  American International Group Inc.  4.375% 6/30/50        500        426
  Ameriprise Financial Inc.  3.700% 10/15/24        350        341
  Ameriprise Financial Inc.  3.000% 4/2/25      3,459      3,314
  Ameriprise Financial Inc.  4.500% 5/13/32        500        483
7 Aon Corp.  8.205% 1/1/27        150        157
  Aon Corp.  2.850% 5/28/27        500        458
  Aon Corp.  4.500% 12/15/28        600        578
  Aon Corp.  3.750% 5/2/29        380        352
  Aon Corp.  2.800% 5/15/30      1,620      1,383
  Aon Corp.  2.050% 8/23/31        750        595
  Aon Corp.  6.250% 9/30/40        150        153
  Aon Corp.  2.900% 8/23/51      1,000        635
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Aon Corp.  3.900% 2/28/52        500        387
  Aon Global Ltd.  3.500% 6/14/24        575        562
  Aon Global Ltd.  3.875% 12/15/25        300        292
  Aon Global Ltd.  4.600% 6/14/44        625        533
  Aon Global Ltd.  4.750% 5/15/45        695        599
  Arch Capital Finance LLC  4.011% 12/15/26        799        763
  Arch Capital Finance LLC  5.031% 12/15/46        100         86
  Arch Capital Group Ltd.  7.350% 5/1/34        500        554
  Arch Capital Group Ltd.  3.635% 6/30/50        975        683
  Arch Capital Group US Inc.  5.144% 11/1/43        275        246
  Ares Capital Corp.  4.200% 6/10/24        825        797
  Ares Capital Corp.  4.250% 3/1/25        480        456
  Ares Capital Corp.  3.250% 7/15/25        967        890
  Ares Capital Corp.  3.875% 1/15/26      1,000        918
  Ares Capital Corp.  2.150% 7/15/26      1,320      1,120
  Ares Capital Corp.  2.875% 6/15/27        319        271
  Ares Capital Corp.  3.200% 11/15/31        500        366
  Arthur J Gallagher & Co.  2.400% 11/9/31        500        394
  Arthur J Gallagher & Co.  3.500% 5/20/51        500        350
  Arthur J Gallagher & Co.  3.050% 3/9/52        500        317
  Assurant Inc.  4.900% 3/27/28        400        384
  Assurant Inc.  6.750% 2/15/34         92         93
  Assured Guaranty US Holdings Inc.  5.000% 7/1/24        262        261
  Assured Guaranty US Holdings Inc.  3.150% 6/15/31        500        421
  Assured Guaranty US Holdings Inc.  3.600% 9/15/51        500        326
  Athene Holding Ltd.  4.125% 1/12/28        835        768
  Athene Holding Ltd.  3.500% 1/15/31      4,500      3,707
  Athene Holding Ltd.  3.950% 5/25/51        500        341
  Athene Holding Ltd.  3.450% 5/15/52        500        309
7 Australia & New Zealand Banking Group Ltd.  3.700% 11/16/25        250        243
  Australia & New Zealand Banking Group Ltd.  5.088% 12/8/25        875        878
  AXA SA  8.600% 12/15/30        540        652
  AXIS Specialty Finance LLC  3.900% 7/15/29      1,840      1,632
7 AXIS Specialty Finance LLC  4.900% 1/15/40        250        205
  AXIS Specialty Finance plc  4.000% 12/6/27      1,500      1,392
  Bain Capital Specialty Finance Inc.  2.550% 10/13/26        500        411
  Banco Santander SA  2.706% 6/27/24        400        384
  Banco Santander SA  5.147% 8/18/25        900        891
  Banco Santander SA  5.179% 11/19/25      1,300      1,284
  Banco Santander SA  1.849% 3/25/26      1,000        888
  Banco Santander SA  4.250% 4/11/27      2,000      1,906
  Banco Santander SA  5.294% 8/18/27        900        878
  Banco Santander SA  3.800% 2/23/28        200        181
  Banco Santander SA  4.379% 4/12/28      1,200      1,127
  Banco Santander SA  3.306% 6/27/29        500        437
  Banco Santander SA  3.490% 5/28/30      1,000        844
  Banco Santander SA  2.749% 12/3/30        600        459
  Banco Santander SA  2.958% 3/25/31      1,000        802
7 Bank of America Corp.  3.550% 3/5/24      3,535      3,522
7 Bank of America Corp.  4.200% 8/26/24      3,025      2,978
7 Bank of America Corp.  4.000% 1/22/25      4,240      4,150
7 Bank of America Corp.  3.950% 4/21/25      3,036      2,958
  Bank of America Corp.  0.976% 4/22/25      2,000      1,875
7 Bank of America Corp.  0.981% 9/25/25        500        461
7 Bank of America Corp.  3.093% 10/1/25      2,500      2,395
7 Bank of America Corp.  2.456% 10/22/25      2,175      2,055
7 Bank of America Corp.  1.530% 12/6/25      5,250      4,843
7 Bank of America Corp.  3.366% 1/23/26      1,300      1,240
7 Bank of America Corp.  4.450% 3/3/26      7,252      7,105
7 Bank of America Corp.  3.384% 4/2/26      2,790      2,664
7 Bank of America Corp.  3.500% 4/19/26        830        793
7 Bank of America Corp.  1.319% 6/19/26     11,450     10,314
 
67

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Bank of America Corp.  4.250% 10/22/26      1,500      1,450
7 Bank of America Corp.  1.197% 10/24/26      2,000      1,782
7 Bank of America Corp.  1.658% 3/11/27      3,500      3,093
7 Bank of America Corp.  3.559% 4/23/27      2,275      2,132
  Bank of America Corp.  1.734% 7/22/27      2,500      2,191
7 Bank of America Corp.  3.248% 10/21/27      2,225      2,056
7 Bank of America Corp.  3.824% 1/20/28        450        420
7 Bank of America Corp.  3.705% 4/24/28      1,400      1,297
7 Bank of America Corp.  3.593% 7/21/28      3,008      2,770
  Bank of America Corp.  6.204% 11/10/28      1,725      1,776
7 Bank of America Corp.  3.419% 12/20/28      6,357      5,766
7 Bank of America Corp.  3.970% 3/5/29      1,425      1,315
7 Bank of America Corp.  2.087% 6/14/29      6,000      5,047
7 Bank of America Corp.  4.271% 7/23/29      6,175      5,768
7 Bank of America Corp.  3.974% 2/7/30        500        454
7 Bank of America Corp.  3.194% 7/23/30      2,000      1,721
7 Bank of America Corp.  2.884% 10/22/30      4,175      3,507
7 Bank of America Corp.  2.496% 2/13/31        175        142
7 Bank of America Corp.  2.592% 4/29/31      6,000      4,894
7 Bank of America Corp.  1.922% 10/24/31      3,000      2,290
7 Bank of America Corp.  2.651% 3/11/32      1,500      1,201
  Bank of America Corp.  2.687% 4/22/32      4,575      3,660
  Bank of America Corp.  2.299% 7/21/32      7,500      5,774
  Bank of America Corp.  2.572% 10/20/32      1,000        784
  Bank of America Corp.  5.015% 7/22/33      4,000      3,795
  Bank of America Corp.  2.482% 9/21/36      1,500      1,106
  Bank of America Corp.  6.110% 1/29/37      2,010      2,046
  Bank of America Corp.  3.846% 3/8/37      2,725      2,254
7 Bank of America Corp.  4.244% 4/24/38      2,600      2,224
  Bank of America Corp.  7.750% 5/14/38      1,700      1,983
7 Bank of America Corp.  4.078% 4/23/40      1,425      1,185
7 Bank of America Corp.  2.676% 6/19/41      4,895      3,307
7 Bank of America Corp.  5.875% 2/7/42      1,020      1,032
  Bank of America Corp.  3.311% 4/22/42      3,945      2,901
7 Bank of America Corp.  5.000% 1/21/44      1,595      1,465
7 Bank of America Corp.  4.875% 4/1/44        550        496
7 Bank of America Corp.  4.750% 4/21/45        350        300
7 Bank of America Corp.  4.443% 1/20/48      2,675      2,260
7 Bank of America Corp.  3.946% 1/23/49      1,175        908
7 Bank of America Corp.  4.330% 3/15/50        700        576
7 Bank of America Corp.  4.083% 3/20/51      5,500      4,344
7 Bank of America Corp.  2.831% 10/24/51      2,000      1,238
7 Bank of America Corp.  3.483% 3/13/52      1,000        712
  Bank of America Corp.  2.972% 7/21/52      1,500        946
7 Bank of America NA  6.000% 10/15/36        600        615
7 Bank of Montreal  3.300% 2/5/24      1,000        981
7 Bank of Montreal  2.150% 3/8/24        700        677
7 Bank of Montreal  2.500% 6/28/24        800        770
7 Bank of Montreal  0.625% 7/9/24        675        631
7 Bank of Montreal  4.250% 9/14/24        500        493
7 Bank of Montreal  1.500% 1/10/25        925        863
7 Bank of Montreal  1.850% 5/1/25        820        766
7 Bank of Montreal  3.700% 6/7/25        900        873
7 Bank of Montreal  0.949% 1/22/27      1,000        883
7 Bank of Montreal  2.650% 3/8/27        700        640
7 Bank of Montreal  4.700% 9/14/27        500        495
7 Bank of Montreal  4.338% 10/5/28        400        392
7 Bank of Montreal  3.803% 12/15/32      1,600      1,410
7 Bank of New York Mellon  5.224% 11/21/25        875        874
7 Bank of New York Mellon Corp.  3.650% 2/4/24        900        886
7 Bank of New York Mellon Corp.  3.250% 9/11/24        600        584
7 Bank of New York Mellon Corp.  3.950% 11/18/25        742        725
7 Bank of New York Mellon Corp.  2.800% 5/4/26      3,561      3,340
  Bank of New York Mellon Corp.  4.414% 7/24/26        800        788
7 Bank of New York Mellon Corp.  2.450% 8/17/26        969        891
  Bank of New York Mellon Corp.  2.050% 1/26/27        340        306
7 Bank of New York Mellon Corp.  3.250% 5/16/27      1,500      1,411
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Bank of New York Mellon Corp.  3.400% 1/29/28        600        559
7 Bank of New York Mellon Corp.  3.442% 2/7/28      1,200      1,126
  Bank of New York Mellon Corp.  5.802% 10/25/28        650        671
7 Bank of New York Mellon Corp.  3.000% 10/30/28      1,000        890
7 Bank of New York Mellon Corp.  3.300% 8/23/29        500        448
  Bank of New York Mellon Corp.  2.500% 1/26/32        280        228
7 Bank of New York Mellon Corp.  4.289% 6/13/33      5,000      4,676
  Bank of New York Mellon Corp.  5.834% 10/25/33        650        676
  Bank of Nova Scotia  3.400% 2/11/24        500        491
  Bank of Nova Scotia  0.650% 7/31/24        550        513
  Bank of Nova Scotia  5.250% 12/6/24        875        876
  Bank of Nova Scotia  1.450% 1/10/25        500        465
  Bank of Nova Scotia  2.200% 2/3/25      3,575      3,367
  Bank of Nova Scotia  3.450% 4/11/25        925        891
  Bank of Nova Scotia  1.300% 6/11/25      3,000      2,749
  Bank of Nova Scotia  4.500% 12/16/25      1,250      1,226
  Bank of Nova Scotia  2.700% 8/3/26        725        671
  Bank of Nova Scotia  1.300% 9/15/26      1,000        874
  Bank of Nova Scotia  1.950% 2/2/27        500        445
  Bank of Nova Scotia  2.450% 2/2/32        500        402
  Bank of Nova Scotia  4.588% 5/4/37        925        789
  BankUnited Inc.  4.875% 11/17/25        219        215
7 Barclays plc  4.338% 5/16/24      1,000        993
  Barclays plc  3.650% 3/16/25      3,000      2,880
7 Barclays plc  3.932% 5/7/25        800        776
  Barclays plc  4.375% 1/12/26      1,200      1,158
7 Barclays plc  2.852% 5/7/26      2,025      1,880
  Barclays plc  5.200% 5/12/26      1,260      1,224
  Barclays plc  5.304% 8/9/26      1,850      1,837
  Barclays plc  7.325% 11/2/26      1,500      1,555
  Barclays plc  4.337% 1/10/28      1,000        929
  Barclays plc  4.836% 5/9/28      4,750      4,377
  Barclays plc  5.501% 8/9/28      1,225      1,191
  Barclays plc  7.385% 11/2/28      1,500      1,560
7 Barclays plc  4.972% 5/16/29      1,000        942
7 Barclays plc  5.088% 6/20/30      2,975      2,743
  Barclays plc  2.645% 6/24/31      1,000        781
  Barclays plc  2.667% 3/10/32      1,750      1,338
  Barclays plc  5.746% 8/9/33        845        800
  Barclays plc  7.437% 11/2/33      4,500      4,737
  Barclays plc  3.564% 9/23/35        700        536
  Barclays plc  5.250% 8/17/45        500        450
  Barclays plc  4.950% 1/10/47      1,300      1,123
  Berkshire Hathaway Finance Corp.  1.850% 3/12/30      1,500      1,251
  Berkshire Hathaway Finance Corp.  2.875% 3/15/32        220        191
  Berkshire Hathaway Finance Corp.  5.750% 1/15/40        130        142
  Berkshire Hathaway Finance Corp.  4.400% 5/15/42        600        550
  Berkshire Hathaway Finance Corp.  4.300% 5/15/43        550        496
  Berkshire Hathaway Finance Corp.  4.200% 8/15/48      2,000      1,766
  Berkshire Hathaway Finance Corp.  4.250% 1/15/49      1,565      1,403
  Berkshire Hathaway Finance Corp.  2.850% 10/15/50      2,430      1,635
  Berkshire Hathaway Finance Corp.  2.500% 1/15/51        500        316
  Berkshire Hathaway Inc.  3.125% 3/15/26      3,231      3,100
  Berkshire Hathaway Inc.  4.500% 2/11/43        825        774
  BGC Partners Inc.  3.750% 10/1/24        425        406
  BlackRock Inc.  3.500% 3/18/24        700        689
  BlackRock Inc.  3.200% 3/15/27        550        521
  BlackRock Inc.  3.250% 4/30/29      1,000        924
  BlackRock Inc.  2.400% 4/30/30      1,250      1,067
 
68

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  BlackRock Inc.  1.900% 1/28/31        915        740
  BlackRock Inc.  2.100% 2/25/32        950        763
10 Blackstone Private Credit Fund  7.050% 9/29/25        500        495
  Blackstone Private Credit Fund  2.625% 12/15/26      1,442      1,194
  Blackstone Private Credit Fund  3.250% 3/15/27        725        611
  Blackstone Secured Lending Fund  3.625% 1/15/26        500        460
  Blackstone Secured Lending Fund  2.750% 9/16/26        500        438
  Blackstone Secured Lending Fund  2.850% 9/30/28        750        585
7 BNP Paribas SA  4.250% 10/15/24        500        488
10 BNP Paribas SA  3.052% 1/13/31      1,175        968
  BPCE SA  4.000% 4/15/24      1,200      1,180
7 BPCE SA  3.375% 12/2/26        250        234
  Brighthouse Financial Inc.  5.625% 5/15/30        500        476
  Brighthouse Financial Inc.  4.700% 6/22/47        487        359
  Brighthouse Financial Inc.  3.850% 12/22/51        500        318
  Brookfield Corp.  4.000% 1/15/25        658        643
  Brookfield Finance Inc.  4.000% 4/1/24        725        712
  Brookfield Finance Inc.  4.250% 6/2/26        150        145
  Brookfield Finance Inc.  3.900% 1/25/28      1,000        920
  Brookfield Finance Inc.  4.850% 3/29/29        600        573
  Brookfield Finance Inc.  4.350% 4/15/30        320        290
  Brookfield Finance Inc.  2.724% 4/15/31      1,200        960
  Brookfield Finance Inc.  4.700% 9/20/47        750        600
  Brookfield Finance Inc.  3.500% 3/30/51        250        160
  Brookfield Finance Inc.  3.625% 2/15/52        500        326
  Brookfield Finance LLC  3.450% 4/15/50      1,200        761
  Brown & Brown Inc.  4.200% 9/15/24        400        393
  Brown & Brown Inc.  4.500% 3/15/29        275        254
  Brown & Brown Inc.  2.375% 3/15/31      1,000        762
  Brown & Brown Inc.  4.200% 3/17/32        500        433
  Brown & Brown Inc.  4.950% 3/17/52        575        470
  Canadian Imperial Bank of Commerce  3.100% 4/2/24        800        781
  Canadian Imperial Bank of Commerce  1.000% 10/18/24        750        699
  Canadian Imperial Bank of Commerce  2.250% 1/28/25        190        179
  Canadian Imperial Bank of Commerce  3.300% 4/7/25        700        672
  Canadian Imperial Bank of Commerce  3.945% 8/4/25      5,000      4,889
  Canadian Imperial Bank of Commerce  0.950% 10/23/25        500        449
  Canadian Imperial Bank of Commerce  1.250% 6/22/26      1,050        923
  Canadian Imperial Bank of Commerce  3.450% 4/7/27        700        658
  Canadian Imperial Bank of Commerce  3.600% 4/7/32        950        838
  Capital One Financial Corp.  3.500% 6/15/23         82         81
  Capital One Financial Corp.  3.900% 1/29/24        250        247
  Capital One Financial Corp.  3.750% 4/24/24      2,575      2,527
  Capital One Financial Corp.  3.300% 10/30/24      4,050      3,909
  Capital One Financial Corp.  4.250% 4/30/25        502        493
  Capital One Financial Corp.  4.200% 10/29/25        500        483
  Capital One Financial Corp.  2.636% 3/3/26      1,162      1,089
  Capital One Financial Corp.  3.750% 7/28/26        250        236
  Capital One Financial Corp.  3.750% 3/9/27      1,075      1,021
  Capital One Financial Corp.  3.650% 5/11/27      1,750      1,647
  Capital One Financial Corp.  1.878% 11/2/27      1,790      1,565
  Capital One Financial Corp.  3.800% 1/31/28      2,000      1,873
  Capital One Financial Corp.  3.273% 3/1/30      1,350      1,157
7 Capital One NA  2.280% 1/28/26        750        701
  Cboe Global Markets Inc.  3.650% 1/12/27      1,290      1,234
  Cboe Global Markets Inc.  1.625% 12/15/30        500        389
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Charles Schwab Corp.  3.550% 2/1/24        420        414
  Charles Schwab Corp.  4.200% 3/24/25      1,000        989
  Charles Schwab Corp.  3.625% 4/1/25        669        651
  Charles Schwab Corp.  3.850% 5/21/25        100         98
  Charles Schwab Corp.  0.900% 3/11/26      1,000        886
  Charles Schwab Corp.  1.150% 5/13/26      3,000      2,667
  Charles Schwab Corp.  3.200% 3/2/27      1,100      1,035
  Charles Schwab Corp.  2.450% 3/3/27      1,330      1,216
  Charles Schwab Corp.  3.300% 4/1/27      2,237      2,119
  Charles Schwab Corp.  3.200% 1/25/28        400        373
  Charles Schwab Corp.  4.000% 2/1/29        440        419
  Charles Schwab Corp.  3.250% 5/22/29        475        430
  Charles Schwab Corp.  2.750% 10/1/29        300        261
  Charles Schwab Corp.  2.300% 5/13/31      1,000        817
  Charles Schwab Corp.  1.950% 12/1/31      1,550      1,215
  Charles Schwab Corp.  2.900% 3/3/32        725        616
  Chubb Corp.  6.000% 5/11/37        375        398
7 Chubb Corp.  6.500% 5/15/38      1,322      1,472
  Chubb INA Holdings Inc.  3.350% 5/15/24        275        269
  Chubb INA Holdings Inc.  3.150% 3/15/25      1,164      1,124
  Chubb INA Holdings Inc.  3.350% 5/3/26      2,200      2,108
  Chubb INA Holdings Inc.  1.375% 9/15/30      2,500      1,942
  Chubb INA Holdings Inc.  6.700% 5/15/36        180        199
  Chubb INA Holdings Inc.  4.150% 3/13/43        225        189
  Chubb INA Holdings Inc.  4.350% 11/3/45        800        694
  Chubb INA Holdings Inc.  2.850% 12/15/51        500        336
  Chubb INA Holdings Inc.  3.050% 12/15/61      1,000        651
  CI Financial Corp.  3.200% 12/17/30      2,000      1,520
7 Cincinnati Financial Corp.  6.920% 5/15/28        300        320
  Cincinnati Financial Corp.  6.125% 11/1/34        275        283
  Citigroup Inc.  3.750% 6/16/24      2,975      2,927
  Citigroup Inc.  4.000% 8/5/24        725        714
  Citigroup Inc.  3.875% 3/26/25      3,544      3,449
7 Citigroup Inc.  3.352% 4/24/25        210        204
  Citigroup Inc.  3.300% 4/27/25        275        266
  Citigroup Inc.  0.981% 5/1/25      1,450      1,357
  Citigroup Inc.  4.140% 5/24/25        785        773
  Citigroup Inc.  4.400% 6/10/25      1,600      1,571
  Citigroup Inc.  5.500% 9/13/25      1,000      1,006
  Citigroup Inc.  1.281% 11/3/25      1,500      1,382
  Citigroup Inc.  3.700% 1/12/26        400        385
  Citigroup Inc.  2.014% 1/25/26      1,500      1,389
  Citigroup Inc.  4.600% 3/9/26        975        959
7 Citigroup Inc.  3.106% 4/8/26      5,750      5,439
  Citigroup Inc.  3.400% 5/1/26        750        712
  Citigroup Inc.  5.610% 9/29/26      3,100      3,109
  Citigroup Inc.  3.200% 10/21/26      3,000      2,781
  Citigroup Inc.  4.300% 11/20/26        775        748
  Citigroup Inc.  4.450% 9/29/27      3,825      3,654
7 Citigroup Inc.  3.887% 1/10/28      7,499      7,009
  Citigroup Inc.  6.625% 1/15/28        800        857
7 Citigroup Inc.  3.070% 2/24/28      2,200      1,985
  Citigroup Inc.  4.658% 5/24/28      1,000        967
7 Citigroup Inc.  3.668% 7/24/28      2,675      2,457
  Citigroup Inc.  4.125% 7/25/28        425        396
7 Citigroup Inc.  3.520% 10/27/28      2,760      2,514
7 Citigroup Inc.  3.980% 3/20/30      2,000      1,806
7 Citigroup Inc.  2.976% 11/5/30      1,175        988
7 Citigroup Inc.  2.666% 1/29/31        175        144
7 Citigroup Inc.  4.412% 3/31/31      8,750      8,043
7 Citigroup Inc.  2.572% 6/3/31      2,500      2,022
  Citigroup Inc.  6.625% 6/15/32        750        788
  Citigroup Inc.  2.520% 11/3/32      2,000      1,553
  Citigroup Inc.  3.057% 1/25/33        750        606
  Citigroup Inc.  5.875% 2/22/33        200        198
  Citigroup Inc.  3.785% 3/17/33      2,600      2,230
  Citigroup Inc.  4.910% 5/24/33      1,000        937
 
69

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Citigroup Inc.  6.000% 10/31/33        525        528
  Citigroup Inc.  6.270% 11/17/33      5,000      5,160
  Citigroup Inc.  6.125% 8/25/36      1,699      1,701
7 Citigroup Inc.  3.878% 1/24/39      1,100        910
  Citigroup Inc.  8.125% 7/15/39      1,099      1,351
7 Citigroup Inc.  5.316% 3/26/41      4,950      4,769
  Citigroup Inc.  5.875% 1/30/42        800        807
  Citigroup Inc.  6.675% 9/13/43        500        541
  Citigroup Inc.  5.300% 5/6/44        750        676
  Citigroup Inc.  4.650% 7/30/45      1,200      1,033
  Citigroup Inc.  4.750% 5/18/46        825        682
  Citigroup Inc.  4.650% 7/23/48      1,480      1,287
  Citizens Bank NA  6.064% 10/24/25        650        657
7 Citizens Bank NA  3.750% 2/18/26        500        479
  Citizens Bank NA  4.575% 8/9/28        575        555
  Citizens Financial Group Inc.  2.850% 7/27/26      2,231      2,065
  Citizens Financial Group Inc.  2.500% 2/6/30        450        362
  Citizens Financial Group Inc.  4.300% 2/11/31        825        755
  Citizens Financial Group Inc.  2.638% 9/30/32        180        133
  CME Group Inc.  3.000% 3/15/25        133        129
  CME Group Inc.  3.750% 6/15/28        300        289
  CME Group Inc.  2.650% 3/15/32      1,000        839
  CME Group Inc.  5.300% 9/15/43        720        741
  CME Group Inc.  4.150% 6/15/48        500        446
  CNA Financial Corp.  3.950% 5/15/24        895        880
  CNA Financial Corp.  3.450% 8/15/27        400        371
  CNA Financial Corp.  3.900% 5/1/29        800        731
  CNO Financial Group Inc.  5.250% 5/30/25        500        497
7 Comerica Bank  4.000% 7/27/25        578        560
  Cooperatieve Rabobank UA  0.375% 1/12/24      1,000        953
  Cooperatieve Rabobank UA  3.875% 8/22/24        650        639
  Cooperatieve Rabobank UA  1.375% 1/10/25        700        655
7 Cooperatieve Rabobank UA  3.375% 5/21/25      1,815      1,760
  Cooperatieve Rabobank UA  4.375% 8/4/25        802        783
7 Cooperatieve Rabobank UA  3.750% 7/21/26      1,800      1,695
  Cooperatieve Rabobank UA  5.750% 12/1/43        750        718
  Cooperatieve Rabobank UA  5.250% 8/4/45      3,250      2,930
10 Corebridge Financial Inc.  3.500% 4/4/25        500        479
10 Corebridge Financial Inc.  3.650% 4/5/27      1,000        932
10 Corebridge Financial Inc.  3.850% 4/5/29      1,000        911
10 Corebridge Financial Inc.  3.900% 4/5/32        500        438
10 Corebridge Financial Inc.  4.350% 4/5/42        500        409
10 Corebridge Financial Inc.  4.400% 4/5/52      2,000      1,594
  Credit Suisse AG  0.495% 2/2/24        500        464
  Credit Suisse AG  4.750% 8/9/24      1,000        955
7 Credit Suisse AG  3.625% 9/9/24      2,325      2,170
  Credit Suisse Group AG  3.750% 3/26/25      1,500      1,355
  Credit Suisse Group AG  4.550% 4/17/26      3,390      3,016
10 Credit Suisse Group AG  4.194% 4/1/31      1,000        780
  Credit Suisse Group AG  4.875% 5/15/45      1,680      1,155
  Credit Suisse USA Inc.  7.125% 7/15/32        465        470
7 Deutsche Bank AG  3.700% 5/30/24        775        752
  Deutsche Bank AG  4.500% 4/1/25        778        741
7 Deutsche Bank AG  3.961% 11/26/25      1,500      1,434
7 Deutsche Bank AG  4.100% 1/13/26        400        382
  Deutsche Bank AG  1.686% 3/19/26      1,500      1,346
  Deutsche Bank AG  6.119% 7/14/26      1,000        995
  Deutsche Bank AG  2.129% 11/24/26      1,600      1,411
  Deutsche Bank AG  2.311% 11/16/27        500        425
  Deutsche Bank AG  2.552% 1/7/28      1,005        856
  Deutsche Bank AG  5.882% 7/8/31        200        174
7 Deutsche Bank AG  3.547% 9/18/31        500        401
  Deutsche Bank AG  3.729% 1/14/32        530        390
  Deutsche Bank AG  3.035% 5/28/32      1,005        762
  Deutsche Bank AG  4.875% 12/1/32        570        476
  Deutsche Bank AG  3.742% 1/7/33      1,043        747
  Discover Bank  2.450% 9/12/24        600        570
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Discover Bank  4.250% 3/13/26      2,043      1,954
7 Discover Bank  3.450% 7/27/26      1,455      1,340
7 Discover Bank  4.650% 9/13/28        500        469
7 Discover Bank  2.700% 2/6/30        400        320
  Discover Financial Services  3.950% 11/6/24        350        341
  Discover Financial Services  3.750% 3/4/25        953        918
  Discover Financial Services  4.500% 1/30/26      3,183      3,084
  Discover Financial Services  4.100% 2/9/27      1,435      1,351
  Discover Financial Services  6.700% 11/29/32        250        254
  Eaton Vance Corp.  3.500% 4/6/27        511        476
  Enstar Group Ltd.  4.950% 6/1/29        680        621
  Equitable Holdings Inc.  7.000% 4/1/28        600        644
  Equitable Holdings Inc.  4.350% 4/20/28      4,460      4,245
  Equitable Holdings Inc.  5.000% 4/20/48      1,200      1,054
  Everest Reinsurance Holdings Inc.  4.868% 6/1/44        300        255
  Everest Reinsurance Holdings Inc.  3.500% 10/15/50        500        336
  Everest Reinsurance Holdings Inc.  3.125% 10/15/52      1,250        777
  Fairfax Financial Holdings Ltd.  4.850% 4/17/28        400        379
  Fairfax Financial Holdings Ltd.  4.625% 4/29/30        600        545
  Fairfax Financial Holdings Ltd.  3.375% 3/3/31      1,000        816
10 Fairfax Financial Holdings Ltd.  5.625% 8/16/32        650        610
  Fidelity National Financial Inc.  3.400% 6/15/30        500        422
  Fidelity National Financial Inc.  2.450% 3/15/31        750        568
  Fidelity National Financial Inc.  3.200% 9/17/51      1,000        584
  Fifth Third Bancorp  4.300% 1/16/24        475        470
  Fifth Third Bancorp  3.650% 1/25/24        500        493
  Fifth Third Bancorp  2.375% 1/28/25      1,823      1,729
  Fifth Third Bancorp  2.550% 5/5/27      1,500      1,350
  Fifth Third Bancorp  1.707% 11/1/27        500        441
  Fifth Third Bancorp  3.950% 3/14/28        300        287
  Fifth Third Bancorp  4.055% 4/25/28        500        475
  Fifth Third Bancorp  4.772% 7/28/30        400        381
  Fifth Third Bancorp  4.337% 4/25/33        500        458
  Fifth Third Bancorp  8.250% 3/1/38        710        876
7 Fifth Third Bank NA  3.950% 7/28/25        625        615
7 Fifth Third Bank NA  3.850% 3/15/26      1,500      1,432
7 Fifth Third Bank NA  2.250% 2/1/27      1,165      1,051
  First American Financial Corp.  4.600% 11/15/24        220        217
  First American Financial Corp.  2.400% 8/15/31        600        439
7 First Republic Bank  4.375% 8/1/46        200        152
7 First Republic Bank  4.625% 2/13/47        375        294
  First-Citizens Bank & Trust Co.  6.125% 3/9/28        350        357
  Franklin Resources Inc.  2.850% 3/30/25        250        238
  Franklin Resources Inc.  1.600% 10/30/30        500        384
  Franklin Resources Inc.  2.950% 8/12/51        500        311
  FS KKR Capital Corp.  4.625% 7/15/24        100         97
  FS KKR Capital Corp.  4.125% 2/1/25      1,000        940
  FS KKR Capital Corp.  3.400% 1/15/26      1,580      1,403
  GATX Corp.  3.250% 3/30/25        375        358
  GATX Corp.  3.850% 3/30/27        910        851
  GATX Corp.  3.500% 3/15/28        200        181
  GATX Corp.  4.550% 11/7/28        600        569
  GATX Corp.  4.700% 4/1/29        275        262
  GATX Corp.  4.000% 6/30/30        460        409
  GATX Corp.  1.900% 6/1/31        500        373
  GATX Corp.  3.500% 6/1/32        500        415
  GATX Corp.  5.200% 3/15/44        150        130
  GATX Corp.  4.500% 3/30/45        150        116
  GATX Corp.  3.100% 6/1/51        500        300
  GE Capital Funding LLC  3.450% 5/15/25      2,320      2,229
  GE Capital Funding LLC  4.550% 5/15/32        376        357
  Globe Life Inc.  4.550% 9/15/28        385        374
  Globe Life Inc.  2.150% 8/15/30        500        394
  Goldman Sachs BDC Inc.  2.875% 1/15/26        500        459
 
70

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Goldman Sachs Capital I  6.345% 2/15/34        975      1,009
  Goldman Sachs Group Inc.  3.625% 2/20/24      5,000      4,915
  Goldman Sachs Group Inc.  4.000% 3/3/24      1,750      1,728
  Goldman Sachs Group Inc.  0.673% 3/8/24      5,000      4,940
  Goldman Sachs Group Inc.  3.000% 3/15/24      2,139      2,086
  Goldman Sachs Group Inc.  3.500% 1/23/25      4,929      4,769
  Goldman Sachs Group Inc.  1.757% 1/24/25      1,650      1,579
  Goldman Sachs Group Inc.  3.500% 4/1/25      1,000        963
  Goldman Sachs Group Inc.  3.750% 5/22/25      1,000        968
  Goldman Sachs Group Inc.  3.750% 2/25/26      2,450      2,361
7 Goldman Sachs Group Inc.  1.093% 12/9/26      2,000      1,766
  Goldman Sachs Group Inc.  5.950% 1/15/27      1,030      1,057
  Goldman Sachs Group Inc.  3.850% 1/26/27      1,100      1,047
  Goldman Sachs Group Inc.  1.431% 3/9/27      2,000      1,750
  Goldman Sachs Group Inc.  1.948% 10/21/27      7,000      6,109
  Goldman Sachs Group Inc.  2.640% 2/24/28      3,491      3,106
  Goldman Sachs Group Inc.  3.615% 3/15/28      2,360      2,191
7 Goldman Sachs Group Inc.  3.691% 6/5/28      6,050      5,620
7 Goldman Sachs Group Inc.  3.814% 4/23/29      1,200      1,092
7 Goldman Sachs Group Inc.  4.223% 5/1/29      2,150      2,003
  Goldman Sachs Group Inc.  2.600% 2/7/30      1,000        835
  Goldman Sachs Group Inc.  3.800% 3/15/30      6,425      5,766
  Goldman Sachs Group Inc.  1.992% 1/27/32      2,200      1,675
  Goldman Sachs Group Inc.  2.615% 4/22/32      3,000      2,391
  Goldman Sachs Group Inc.  2.383% 7/21/32      3,000      2,326
  Goldman Sachs Group Inc.  2.650% 10/21/32      3,400      2,684
  Goldman Sachs Group Inc.  3.102% 2/24/33      3,705      3,021
  Goldman Sachs Group Inc.  6.450% 5/1/36      2,975      3,104
  Goldman Sachs Group Inc.  6.750% 10/1/37      5,620      5,986
7 Goldman Sachs Group Inc.  4.017% 10/31/38      2,230      1,829
7 Goldman Sachs Group Inc.  4.411% 4/23/39      2,500      2,156
  Goldman Sachs Group Inc.  6.250% 2/1/41      2,090      2,178
  Goldman Sachs Group Inc.  3.210% 4/22/42      3,120      2,246
  Goldman Sachs Group Inc.  3.436% 2/24/43      1,865      1,374
7 Goldman Sachs Group Inc.  4.800% 7/8/44      1,710      1,511
  Goldman Sachs Group Inc.  5.150% 5/22/45      2,075      1,877
  Goldman Sachs Group Inc.  4.750% 10/21/45        525        461
  Golub Capital BDC Inc.  2.500% 8/24/26        684        581
  Hanover Insurance Group Inc.  4.500% 4/15/26        270        263
  Hartford Financial Services Group Inc.  2.800% 8/19/29        500        428
  Hartford Financial Services Group Inc.  6.100% 10/1/41        600        604
  Hartford Financial Services Group Inc.  4.300% 4/15/43        500        396
  Hartford Financial Services Group Inc.  3.600% 8/19/49        500        362
  Hartford Financial Services Group Inc.  2.900% 9/15/51        700        441
7 HSBC Bank USA NA  7.000% 1/15/39        650        702
  HSBC Holdings plc  4.250% 3/14/24      1,000        983
7 HSBC Holdings plc  3.950% 5/18/24      2,100      2,082
7 HSBC Holdings plc  3.803% 3/11/25      2,800      2,727
7 HSBC Holdings plc  2.633% 11/7/25        200        188
  HSBC Holdings plc  4.180% 12/9/25      2,650      2,572
  HSBC Holdings plc  4.300% 3/8/26      3,570      3,455
  HSBC Holdings plc  2.999% 3/10/26      1,575      1,480
7 HSBC Holdings plc  1.645% 4/18/26      3,000      2,709
  HSBC Holdings plc  3.900% 5/25/26      1,950      1,860
7 HSBC Holdings plc  2.099% 6/4/26      7,135      6,504
7 HSBC Holdings plc  4.292% 9/12/26      3,100      2,974
  HSBC Holdings plc  7.336% 11/3/26        250        260
  HSBC Holdings plc  4.375% 11/23/26      3,000      2,883
  HSBC Holdings plc  1.589% 5/24/27      1,000        862
  HSBC Holdings plc  2.251% 11/22/27      3,575      3,097
7 HSBC Holdings plc  4.041% 3/13/28      2,000      1,845
  HSBC Holdings plc  4.755% 6/9/28      3,020      2,860
  HSBC Holdings plc  5.210% 8/11/28      2,950      2,841
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 HSBC Holdings plc  2.013% 9/22/28      8,000      6,677
  HSBC Holdings plc  7.390% 11/3/28        250        262
7 HSBC Holdings plc  4.583% 6/19/29        800        735
  HSBC Holdings plc  2.206% 8/17/29      1,000        808
  HSBC Holdings plc  4.950% 3/31/30      2,230      2,130
7 HSBC Holdings plc  2.848% 6/4/31      2,000      1,599
7 HSBC Holdings plc  2.357% 8/18/31      4,000      3,064
7 HSBC Holdings plc  7.625% 5/17/32        400        401
  HSBC Holdings plc  2.871% 11/22/32      3,000      2,297
7 HSBC Holdings plc  7.350% 11/27/32        400        380
  HSBC Holdings plc  4.762% 3/29/33      1,375      1,190
  HSBC Holdings plc  5.402% 8/11/33      1,045        971
  HSBC Holdings plc  8.113% 11/3/33      1,250      1,325
7 HSBC Holdings plc  6.500% 5/2/36      2,485      2,406
7 HSBC Holdings plc  6.500% 9/15/37        660        635
7 HSBC Holdings plc  6.800% 6/1/38      1,450      1,439
  HSBC Holdings plc  6.100% 1/14/42      1,200      1,253
  HSBC Holdings plc  5.250% 3/14/44      1,700      1,440
  HSBC USA Inc.  3.500% 6/23/24        400        389
  Huntington Bancshares Inc.  2.625% 8/6/24        250        240
  Huntington Bancshares Inc.  4.000% 5/15/25        400        390
  Huntington Bancshares Inc.  4.443% 8/4/28        525        499
  Huntington Bancshares Inc.  2.550% 2/4/30      1,125        925
  Huntington Bancshares Inc.  5.023% 5/17/33        500        475
  Huntington National Bank  5.699% 11/18/25      1,000      1,003
7 Huntington National Bank  4.270% 11/25/26        450        422
  Huntington National Bank  4.552% 5/17/28        500        482
  Industrial & Commercial Bank of China Ltd.  3.538% 11/8/27        750        713
  ING Groep NV  3.550% 4/9/24        400        391
  ING Groep NV  3.869% 3/28/26        700        672
  ING Groep NV  3.950% 3/29/27      1,300      1,226
  ING Groep NV  4.017% 3/28/28        700        654
  ING Groep NV  4.550% 10/2/28      1,000        955
  ING Groep NV  4.050% 4/9/29        610        562
  Intercontinental Exchange Inc.  3.650% 5/23/25        690        675
  Intercontinental Exchange Inc.  3.750% 12/1/25      1,100      1,071
  Intercontinental Exchange Inc.  3.100% 9/15/27        200        186
  Intercontinental Exchange Inc.  4.000% 9/15/27        500        483
  Intercontinental Exchange Inc.  3.750% 9/21/28        500        473
  Intercontinental Exchange Inc.  4.350% 6/15/29        300        290
  Intercontinental Exchange Inc.  2.100% 6/15/30      2,240      1,828
  Intercontinental Exchange Inc.  1.850% 9/15/32      1,000        752
  Intercontinental Exchange Inc.  4.600% 3/15/33        300        288
  Intercontinental Exchange Inc.  2.650% 9/15/40      1,500      1,044
  Intercontinental Exchange Inc.  4.250% 9/21/48        600        502
  Intercontinental Exchange Inc.  3.000% 6/15/50      1,035        693
  Intercontinental Exchange Inc.  4.950% 6/15/52        825        766
  Intercontinental Exchange Inc.  3.000% 9/15/60      1,700      1,060
  Intercontinental Exchange Inc.  5.200% 6/15/62        300        285
  Invesco Finance plc  4.000% 1/30/24        950        942
  Invesco Finance plc  3.750% 1/15/26        800        768
  Invesco Finance plc  5.375% 11/30/43        900        836
  Jackson Financial Inc.  3.125% 11/23/31        500        385
  Jackson Financial Inc.  4.000% 11/23/51        500        318
  Janus Henderson US Holdings Inc.  4.875% 8/1/25        250        246
  Jefferies Financial Group Inc.  4.850% 1/15/27        600        590
  Jefferies Financial Group Inc.  4.150% 1/23/30      1,100        983
  Jefferies Financial Group Inc.  2.750% 10/15/32        500        375
  Jefferies Financial Group Inc.  6.250% 1/15/36        320        323
  Jefferies Financial Group Inc.  6.500% 1/20/43        350        342
  JPMorgan Chase & Co.  3.625% 5/13/24        622        612
7 JPMorgan Chase & Co.  1.514% 6/1/24      2,264      2,227
  JPMorgan Chase & Co.  3.875% 9/10/24      2,200      2,152
  JPMorgan Chase & Co.  3.125% 1/23/25      3,312      3,197
  JPMorgan Chase & Co.  0.563% 2/16/25      1,000        943
 
71

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 JPMorgan Chase & Co.  3.220% 3/1/25      1,480      1,438
  JPMorgan Chase & Co.  0.824% 6/1/25      3,300      3,078
  JPMorgan Chase & Co.  0.969% 6/23/25      2,000      1,865
  JPMorgan Chase & Co.  3.900% 7/15/25      2,194      2,147
  JPMorgan Chase & Co.  0.768% 8/9/25      1,250      1,153
7 JPMorgan Chase & Co.  2.301% 10/15/25      3,000      2,824
  JPMorgan Chase & Co.  1.561% 12/10/25      4,875      4,511
  JPMorgan Chase & Co.  5.546% 12/15/25      2,150      2,150
  JPMorgan Chase & Co.  3.300% 4/1/26      2,550      2,421
  JPMorgan Chase & Co.  4.080% 4/26/26      1,500      1,458
  JPMorgan Chase & Co.  3.200% 6/15/26      1,125      1,063
  JPMorgan Chase & Co.  2.950% 10/1/26      5,652      5,273
  JPMorgan Chase & Co.  7.625% 10/15/26      3,000      3,280
  JPMorgan Chase & Co.  1.045% 11/19/26      4,000      3,532
  JPMorgan Chase & Co.  4.125% 12/15/26      1,650      1,596
7 JPMorgan Chase & Co.  3.960% 1/29/27      2,729      2,605
  JPMorgan Chase & Co.  1.040% 2/4/27      4,500      3,918
  JPMorgan Chase & Co.  1.578% 4/22/27      1,000        880
  JPMorgan Chase & Co.  1.470% 9/22/27      2,000      1,729
  JPMorgan Chase & Co.  3.625% 12/1/27      1,000        929
7 JPMorgan Chase & Co.  3.782% 2/1/28      3,521      3,293
  JPMorgan Chase & Co.  4.323% 4/26/28      1,500      1,430
7 JPMorgan Chase & Co.  3.540% 5/1/28        775        714
7 JPMorgan Chase & Co.  2.182% 6/1/28      4,950      4,321
  JPMorgan Chase & Co.  4.851% 7/25/28      1,000        976
7 JPMorgan Chase & Co.  3.509% 1/23/29      2,900      2,630
7 JPMorgan Chase & Co.  4.005% 4/23/29      1,700      1,575
  JPMorgan Chase & Co.  2.069% 6/1/29      2,000      1,670
7 JPMorgan Chase & Co.  3.702% 5/6/30      1,600      1,432
  JPMorgan Chase & Co.  4.565% 6/14/30      1,350      1,275
7 JPMorgan Chase & Co.  2.739% 10/15/30      2,000      1,680
7 JPMorgan Chase & Co.  4.493% 3/24/31      5,675      5,307
7 JPMorgan Chase & Co.  2.956% 5/13/31      3,500      2,882
  JPMorgan Chase & Co.  1.764% 11/19/31      1,000        758
  JPMorgan Chase & Co.  1.953% 2/4/32      1,785      1,366
  JPMorgan Chase & Co.  2.580% 4/22/32      4,000      3,200
  JPMorgan Chase & Co.  2.545% 11/8/32      2,725      2,153
  JPMorgan Chase & Co.  2.963% 1/25/33      3,385      2,752
  JPMorgan Chase & Co.  4.586% 4/26/33      2,000      1,852
  JPMorgan Chase & Co.  4.912% 7/25/33        800        761
  JPMorgan Chase & Co.  6.400% 5/15/38      3,010      3,261
7 JPMorgan Chase & Co.  3.882% 7/24/38      3,225      2,678
  JPMorgan Chase & Co.  5.500% 10/15/40      1,375      1,369
7 JPMorgan Chase & Co.  3.109% 4/22/41      8,000      5,807
  JPMorgan Chase & Co.  5.400% 1/6/42      1,200      1,180
  JPMorgan Chase & Co.  3.157% 4/22/42      2,955      2,148
  JPMorgan Chase & Co.  5.625% 8/16/43      2,000      1,955
  JPMorgan Chase & Co.  4.950% 6/1/45      4,550      4,076
7 JPMorgan Chase & Co.  4.260% 2/22/48      2,775      2,279
7 JPMorgan Chase & Co.  3.964% 11/15/48      3,500      2,740
7 JPMorgan Chase & Co.  3.109% 4/22/51      3,275      2,176
  JPMorgan Chase & Co.  3.328% 4/22/52      3,300      2,273
  Kemper Corp.  4.350% 2/15/25        167        163
  Kemper Corp.  3.800% 2/23/32        500        417
7 KeyBank NA  3.300% 6/1/25        500        481
7 KeyBank NA  4.150% 8/8/25        525        513
7 KeyBank NA  5.850% 11/15/27        650        669
7 KeyBank NA  4.390% 12/14/27        300        288
7 KeyBank NA  4.900% 8/8/32        525        484
7 KeyCorp  4.150% 10/29/25        850        830
7 KeyCorp  2.250% 4/6/27        750        667
7 KeyCorp  4.100% 4/30/28      1,400      1,331
7 KeyCorp  2.550% 10/1/29        600        505
  Lazard Group LLC  3.750% 2/13/25        100         97
  Lazard Group LLC  3.625% 3/1/27      1,350      1,251
  Lazard Group LLC  4.500% 9/19/28        425        394
  Legg Mason Inc.  4.750% 3/15/26        425        426
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Legg Mason Inc.  5.625% 1/15/44        450        440
  Lincoln National Corp.  3.350% 3/9/25        212        204
  Lincoln National Corp.  3.625% 12/12/26        250        235
  Lincoln National Corp.  3.800% 3/1/28        850        781
  Lincoln National Corp.  6.300% 10/9/37      1,025      1,006
  Lincoln National Corp.  4.375% 6/15/50        500        378
  Lloyds Banking Group plc  4.050% 8/16/23      3,300      3,277
  Lloyds Banking Group plc  3.900% 3/12/24        800        785
  Lloyds Banking Group plc  4.500% 11/4/24        500        488
  Lloyds Banking Group plc  4.450% 5/8/25        500        490
7 Lloyds Banking Group plc  3.870% 7/9/25      4,000      3,877
  Lloyds Banking Group plc  4.582% 12/10/25      2,050      1,980
7 Lloyds Banking Group plc  2.438% 2/5/26        750        697
  Lloyds Banking Group plc  3.511% 3/18/26        700        665
  Lloyds Banking Group plc  4.650% 3/24/26      1,000        956
  Lloyds Banking Group plc  4.716% 8/11/26        875        855
  Lloyds Banking Group plc  3.750% 1/11/27      1,329      1,237
  Lloyds Banking Group plc  3.750% 3/18/28        700        645
  Lloyds Banking Group plc  4.375% 3/22/28      3,025      2,863
7 Lloyds Banking Group plc  3.574% 11/7/28      2,250      2,023
  Lloyds Banking Group plc  7.953% 11/15/33      2,075      2,199
  Lloyds Banking Group plc  3.369% 12/14/46        520        340
  Lloyds Banking Group plc  4.344% 1/9/48        850        623
  Loews Corp.  3.750% 4/1/26        695        670
  Loews Corp.  3.200% 5/15/30        500        441
  Loews Corp.  6.000% 2/1/35        250        256
  Loews Corp.  4.125% 5/15/43        275        223
  M&T Bank Corp.  4.000% 7/15/24        275        270
  M&T Bank Corp.  4.553% 8/16/28        500        484
  Main Street Capital Corp.  3.000% 7/14/26        458        395
7 Manufacturers & Traders Trust Co.  2.900% 2/6/25      1,425      1,365
  Manufacturers & Traders Trust Co.  5.400% 11/21/25        500        503
7 Manufacturers & Traders Trust Co.  3.400% 8/17/27        250        228
  Manulife Financial Corp.  4.150% 3/4/26        575        560
  Manulife Financial Corp.  2.484% 5/19/27      1,130      1,017
7 Manulife Financial Corp.  4.061% 2/24/32        760        692
  Manulife Financial Corp.  3.703% 3/16/32        500        444
  Manulife Financial Corp.  5.375% 3/4/46        850        820
  Markel Corp.  3.500% 11/1/27        200        184
  Markel Corp.  3.350% 9/17/29        250        217
  Markel Corp.  5.000% 4/5/46      1,100        956
  Markel Corp.  4.300% 11/1/47        200        157
  Markel Corp.  5.000% 5/20/49        200        175
  Markel Corp.  3.450% 5/7/52        500        336
  Marsh & McLennan Cos. Inc.  4.050% 10/15/23        350        345
  Marsh & McLennan Cos. Inc.  3.875% 3/15/24      1,600      1,578
  Marsh & McLennan Cos. Inc.  3.500% 3/10/25        425        413
  Marsh & McLennan Cos. Inc.  3.750% 3/14/26        375        364
  Marsh & McLennan Cos. Inc.  4.375% 3/15/29        575        556
  Marsh & McLennan Cos. Inc.  2.250% 11/15/30        665        544
  Marsh & McLennan Cos. Inc.  2.375% 12/15/31        250        202
  Marsh & McLennan Cos. Inc.  5.875% 8/1/33      1,050      1,106
  Marsh & McLennan Cos. Inc.  4.750% 3/15/39        400        368
  Marsh & McLennan Cos. Inc.  4.350% 1/30/47        200        168
  Marsh & McLennan Cos. Inc.  4.900% 3/15/49      2,350      2,186
  Marsh & McLennan Cos. Inc.  2.900% 12/15/51        200        129
  Marsh & McLennan Cos. Inc.  6.250% 11/1/52        500        558
  Mastercard Inc.  3.375% 4/1/24      1,000        982
  Mastercard Inc.  2.000% 3/3/25      2,519      2,387
  Mastercard Inc.  2.950% 11/21/26        510        481
  Mastercard Inc.  3.300% 3/26/27      2,550      2,430
  Mastercard Inc.  3.500% 2/26/28        450        427
  Mastercard Inc.  2.950% 6/1/29        500        451
  Mastercard Inc.  3.350% 3/26/30      2,000      1,833
  Mastercard Inc.  1.900% 3/15/31        500        406
  Mastercard Inc.  2.000% 11/18/31        700        564
  Mastercard Inc.  3.800% 11/21/46        350        294
 
72

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Mastercard Inc.  3.950% 2/26/48        550        471
  Mastercard Inc.  3.650% 6/1/49        835        680
  Mastercard Inc.  3.850% 3/26/50      1,400      1,174
  Mastercard Inc.  2.950% 3/15/51        500        355
  Mercury General Corp.  4.400% 3/15/27        315        295
7 MetLife Inc.  4.368% 9/15/23        500        498
  MetLife Inc.  3.600% 4/10/24        750        737
  MetLife Inc.  3.000% 3/1/25        500        482
  MetLife Inc.  3.600% 11/13/25        561        545
  MetLife Inc.  4.550% 3/23/30      1,500      1,477
  MetLife Inc.  6.500% 12/15/32        250        276
  MetLife Inc.  6.375% 6/15/34        505        561
  MetLife Inc.  5.700% 6/15/35        425        445
7 MetLife Inc.  6.400% 12/15/36      1,505      1,464
  MetLife Inc.  5.875% 2/6/41        645        664
  MetLife Inc.  4.125% 8/13/42        525        445
  MetLife Inc.  4.875% 11/13/43      1,396      1,297
  MetLife Inc.  4.721% 12/15/44      1,150      1,042
  MetLife Inc.  4.050% 3/1/45      1,000        834
  MetLife Inc.  5.000% 7/15/52      2,000      1,919
  Mitsubishi UFJ Financial Group Inc.  2.527% 9/13/23        200        196
  Mitsubishi UFJ Financial Group Inc.  3.407% 3/7/24      1,200      1,173
  Mitsubishi UFJ Financial Group Inc.  2.801% 7/18/24        800        770
7 Mitsubishi UFJ Financial Group Inc.  0.848% 9/15/24      1,000        964
  Mitsubishi UFJ Financial Group Inc.  2.193% 2/25/25      3,720      3,483
  Mitsubishi UFJ Financial Group Inc.  3.777% 3/2/25      2,000      1,947
  Mitsubishi UFJ Financial Group Inc.  1.412% 7/17/25        500        454
  Mitsubishi UFJ Financial Group Inc.  4.788% 7/18/25        625        618
  Mitsubishi UFJ Financial Group Inc.  0.953% 7/19/25      4,500      4,182
  Mitsubishi UFJ Financial Group Inc.  5.063% 9/12/25      1,000        994
  Mitsubishi UFJ Financial Group Inc.  3.850% 3/1/26        235        225
  Mitsubishi UFJ Financial Group Inc.  3.837% 4/17/26        300        289
  Mitsubishi UFJ Financial Group Inc.  2.757% 9/13/26        700        640
  Mitsubishi UFJ Financial Group Inc.  3.677% 2/22/27      3,300      3,125
  Mitsubishi UFJ Financial Group Inc.  1.538% 7/20/27        500        434
  Mitsubishi UFJ Financial Group Inc.  3.287% 7/25/27      1,000        920
  Mitsubishi UFJ Financial Group Inc.  3.961% 3/2/28      2,625      2,479
  Mitsubishi UFJ Financial Group Inc.  4.080% 4/19/28        675        636
  Mitsubishi UFJ Financial Group Inc.  5.017% 7/20/28        625        610
  Mitsubishi UFJ Financial Group Inc.  4.050% 9/11/28      2,500      2,344
  Mitsubishi UFJ Financial Group Inc.  5.354% 9/13/28      1,000        991
  Mitsubishi UFJ Financial Group Inc.  3.741% 3/7/29      1,290      1,190
  Mitsubishi UFJ Financial Group Inc.  3.195% 7/18/29        825        722
  Mitsubishi UFJ Financial Group Inc.  2.559% 2/25/30      1,175        973
  Mitsubishi UFJ Financial Group Inc.  2.048% 7/17/30      1,000        789
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Mitsubishi UFJ Financial Group Inc.  2.309% 7/20/32      2,500      1,928
  Mitsubishi UFJ Financial Group Inc.  4.315% 4/19/33        300        270
  Mitsubishi UFJ Financial Group Inc.  5.133% 7/20/33        625        598
  Mitsubishi UFJ Financial Group Inc.  4.286% 7/26/38        200        173
  Mitsubishi UFJ Financial Group Inc.  3.751% 7/18/39      2,600      2,106
7 Mizuho Financial Group Inc.  0.849% 9/8/24      1,000        965
7 Mizuho Financial Group Inc.  2.839% 7/16/25      1,625      1,548
7 Mizuho Financial Group Inc.  2.555% 9/13/25        400        378
  Mizuho Financial Group Inc.  3.663% 2/28/27        250        232
  Mizuho Financial Group Inc.  1.234% 5/22/27      2,000      1,731
  Mizuho Financial Group Inc.  1.554% 7/9/27        675        587
  Mizuho Financial Group Inc.  4.018% 3/5/28        400        377
7 Mizuho Financial Group Inc.  4.254% 9/11/29      1,000        923
7 Mizuho Financial Group Inc.  3.153% 7/16/30      2,400      2,052
7 Mizuho Financial Group Inc.  2.591% 5/25/31      1,000        807
  Mizuho Financial Group Inc.  2.172% 5/22/32      1,500      1,141
7 Morgan Stanley  4.100% 5/22/23      2,025      2,018
7 Morgan Stanley  3.875% 4/29/24      5,814      5,725
7 Morgan Stanley  0.791% 1/22/25      3,000      2,841
  Morgan Stanley  3.620% 4/17/25      1,375      1,341
  Morgan Stanley  0.790% 5/30/25      2,000      1,864
7 Morgan Stanley  2.720% 7/22/25      1,948      1,864
7 Morgan Stanley  4.000% 7/23/25      4,164      4,069
7 Morgan Stanley  1.164% 10/21/25      2,500      2,300
  Morgan Stanley  5.000% 11/24/25      1,100      1,096
7 Morgan Stanley  3.875% 1/27/26      1,800      1,743
  Morgan Stanley  2.630% 2/18/26        625        587
7 Morgan Stanley  2.188% 4/28/26        750        696
7 Morgan Stanley  3.125% 7/27/26      3,150      2,939
7 Morgan Stanley  6.250% 8/9/26      1,294      1,347
7 Morgan Stanley  4.350% 9/8/26      6,479      6,297
  Morgan Stanley  6.138% 10/16/26      1,000      1,023
  Morgan Stanley  0.985% 12/10/26      3,600      3,159
  Morgan Stanley  3.625% 1/20/27      2,135      2,015
  Morgan Stanley  3.950% 4/23/27        745        705
  Morgan Stanley  1.593% 5/4/27      5,398      4,739
7 Morgan Stanley  1.512% 7/20/27      1,500      1,303
  Morgan Stanley  2.475% 1/21/28        500        444
  Morgan Stanley  4.210% 4/20/28      1,375      1,306
7 Morgan Stanley  3.591% 7/22/28      3,040      2,794
  Morgan Stanley  6.296% 10/18/28      1,000      1,031
7 Morgan Stanley  3.772% 1/24/29      2,850      2,608
7 Morgan Stanley  4.431% 1/23/30        300        280
7 Morgan Stanley  2.699% 1/22/31        775        641
7 Morgan Stanley  3.622% 4/1/31      8,000      6,998
7 Morgan Stanley  1.794% 2/13/32      2,000      1,499
  Morgan Stanley  7.250% 4/1/32        705        792
7 Morgan Stanley  1.928% 4/28/32      2,200      1,662
7 Morgan Stanley  2.239% 7/21/32      3,500      2,682
7 Morgan Stanley  2.511% 10/20/32      2,000      1,563
  Morgan Stanley  2.943% 1/21/33        500        406
  Morgan Stanley  6.342% 10/18/33      2,500      2,615
  Morgan Stanley  2.484% 9/16/36      2,700      1,969
7 Morgan Stanley  3.971% 7/22/38      2,100      1,763
  Morgan Stanley  3.217% 4/22/42      1,375      1,016
  Morgan Stanley  6.375% 7/24/42      2,400      2,615
  Morgan Stanley  4.300% 1/27/45      2,850      2,423
  Morgan Stanley  4.375% 1/22/47      1,950      1,662
7 Morgan Stanley  5.597% 3/24/51      2,700      2,697
7 Morgan Stanley  2.802% 1/25/52      2,780      1,726
7,9 Morgan Stanley, SOFR + 0.466%  4.766% 11/10/23      4,000      3,984
  Morgan Stanley Domestic Holdings Inc.  3.800% 8/24/27        325        308
 
73

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Morgan Stanley Domestic Holdings Inc.  4.500% 6/20/28        330        321
  Nasdaq Inc.  3.850% 6/30/26        675        652
  Nasdaq Inc.  1.650% 1/15/31        500        383
  Nasdaq Inc.  2.500% 12/21/40      1,000        649
  Nasdaq Inc.  3.250% 4/28/50        165        111
  Nasdaq Inc.  3.950% 3/7/52        500        383
  National Australia Bank Ltd.  5.132% 11/22/24        875        877
  National Australia Bank Ltd.  3.375% 1/14/26        150        143
7 National Australia Bank Ltd.  2.500% 7/12/26      1,788      1,647
7 Nationwide Financial Services Inc.  6.750% 5/15/37         50         48
7 NatWest Group plc  4.269% 3/22/25      3,800      3,711
  NatWest Group plc  4.800% 4/5/26        225        220
  NatWest Group plc  7.472% 11/10/26        875        911
7 NatWest Group plc  3.073% 5/22/28      2,450      2,188
  NatWest Group plc  5.516% 9/30/28        900        891
7 NatWest Group plc  4.892% 5/18/29      2,000      1,885
7 NatWest Group plc  3.754% 11/1/29        700        649
7 NatWest Group plc  5.076% 1/27/30      3,140      2,954
7 NatWest Group plc  4.445% 5/8/30        175        159
7 NatWest Group plc  3.032% 11/28/35      1,200        885
  Nomura Holdings Inc.  2.648% 1/16/25      2,700      2,550
  Nomura Holdings Inc.  1.851% 7/16/25      2,600      2,367
  Nomura Holdings Inc.  2.329% 1/22/27      1,000        877
  Nomura Holdings Inc.  2.172% 7/14/28      2,800      2,315
  Nomura Holdings Inc.  3.103% 1/16/30      1,610      1,340
  Nomura Holdings Inc.  2.679% 7/16/30        750        600
  Nomura Holdings Inc.  2.608% 7/14/31        825        636
  Northern Trust Corp.  3.950% 10/30/25        600        588
  Northern Trust Corp.  4.000% 5/10/27        925        904
  Northern Trust Corp.  3.650% 8/3/28        325        309
  Northern Trust Corp.  3.150% 5/3/29        500        454
7 Northern Trust Corp.  3.375% 5/8/32        275        250
  Oaktree Specialty Lending Corp.  3.500% 2/25/25        100         95
  Oaktree Specialty Lending Corp.  2.700% 1/15/27        500        428
  Old Republic International Corp.  4.875% 10/1/24        465        461
  Old Republic International Corp.  3.875% 8/26/26        425        403
  Old Republic International Corp.  3.850% 6/11/51        500        344
  ORIX Corp.  3.250% 12/4/24        600        577
  ORIX Corp.  3.700% 7/18/27        650        608
  ORIX Corp.  2.250% 3/9/31      1,000        787
  Owl Rock Capital Corp.  5.250% 4/15/24        100         99
  Owl Rock Capital Corp.  4.000% 3/30/25        100         94
  Owl Rock Capital Corp.  3.750% 7/22/25      1,300      1,204
  Owl Rock Capital Corp.  3.400% 7/15/26      1,137        996
  Owl Rock Capital Corp.  2.625% 1/15/27        500        413
7 Owl Rock Core Income Corp.  5.500% 3/21/25        500        485
  Owl Rock Technology Finance Corp.  2.500% 1/15/27        500        408
  PartnerRe Finance B LLC  3.700% 7/2/29        390        351
  PartnerRe Finance B LLC  4.500% 10/1/50        500        428
7 PNC Bank NA  3.300% 10/30/24        887        863
7 PNC Bank NA  2.950% 2/23/25      1,089      1,045
7 PNC Bank NA  3.250% 6/1/25        825        795
7 PNC Bank NA  4.200% 11/1/25        825        804
7 PNC Bank NA  3.100% 10/25/27        250        234
7 PNC Bank NA  3.250% 1/22/28        600        561
7 PNC Bank NA  4.050% 7/26/28      1,000        943
7 PNC Bank NA  2.700% 10/22/29        300        253
  PNC Financial Services Group Inc.  3.500% 1/23/24        200        197
  PNC Financial Services Group Inc.  3.900% 4/29/24        500        494
  PNC Financial Services Group Inc.  5.671% 10/28/25        650        658
  PNC Financial Services Group Inc.  2.600% 7/23/26        831        769
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  PNC Financial Services Group Inc.  3.150% 5/19/27      4,021      3,756
  PNC Financial Services Group Inc.  3.450% 4/23/29      2,880      2,639
  PNC Financial Services Group Inc.  2.550% 1/22/30      1,350      1,147
  PNC Financial Services Group Inc.  2.307% 4/23/32      1,250      1,012
  PNC Financial Services Group Inc.  4.626% 6/6/33        675        625
  PNC Financial Services Group Inc.  6.037% 10/28/33      1,225      1,280
  Primerica Inc.  2.800% 11/19/31        500        408
  Principal Financial Group Inc.  3.125% 5/15/23        200        199
  Principal Financial Group Inc.  3.400% 5/15/25        696        673
  Principal Financial Group Inc.  3.100% 11/15/26        300        279
  Principal Financial Group Inc.  3.700% 5/15/29        500        464
  Principal Financial Group Inc.  2.125% 6/15/30        100         82
  Principal Financial Group Inc.  4.625% 9/15/42        500        418
  Principal Financial Group Inc.  4.350% 5/15/43        340        273
  Principal Financial Group Inc.  4.300% 11/15/46        265        214
  Progressive Corp.  2.450% 1/15/27      1,602      1,466
  Progressive Corp.  6.625% 3/1/29        150        164
  Progressive Corp.  3.700% 1/26/45        250        192
  Progressive Corp.  4.125% 4/15/47        385        324
  Progressive Corp.  4.200% 3/15/48        465        391
  Progressive Corp.  3.950% 3/26/50      1,520      1,223
  Progressive Corp.  3.700% 3/15/52        500        385
  Prospect Capital Corp.  3.364% 11/15/26        625        521
7 Prudential Financial Inc.  2.100% 3/10/30      1,000        829
7 Prudential Financial Inc.  5.750% 7/15/33        345        356
7 Prudential Financial Inc.  5.700% 12/14/36        805        831
7 Prudential Financial Inc.  6.625% 12/1/37        300        323
7 Prudential Financial Inc.  6.625% 6/21/40        250        271
7 Prudential Financial Inc.  5.100% 8/15/43        225        200
7 Prudential Financial Inc.  4.600% 5/15/44      1,600      1,429
7 Prudential Financial Inc.  5.375% 5/15/45        650        629
  Prudential Financial Inc.  3.905% 12/7/47      1,882      1,503
7 Prudential Financial Inc.  5.700% 9/15/48      1,150      1,102
  Prudential Financial Inc.  3.935% 12/7/49      1,415      1,111
7 Prudential Financial Inc.  4.350% 2/25/50        935        794
7 Prudential Financial Inc.  3.700% 10/1/50        700        599
  Prudential Financial Inc.  5.125% 3/1/52        500        451
  Prudential plc  3.125% 4/14/30        740        644
  Prudential plc  3.625% 3/24/32        500        443
  Raymond James Financial Inc.  4.650% 4/1/30        250        241
  Raymond James Financial Inc.  4.950% 7/15/46        875        784
  Raymond James Financial Inc.  3.750% 4/1/51        500        363
7 Regions Bank  6.450% 6/26/37        500        518
  Regions Financial Corp.  1.800% 8/12/28        500        424
  Regions Financial Corp.  7.375% 12/10/37        500        562
  Reinsurance Group of America Inc.  3.950% 9/15/26        328        316
  Reinsurance Group of America Inc.  3.900% 5/15/29        300        275
  RenaissanceRe Finance Inc.  3.700% 4/1/25        159        154
  RenaissanceRe Finance Inc.  3.450% 7/1/27        225        210
  RenaissanceRe Holdings Ltd.  3.600% 4/15/29        200        179
7 Royal Bank of Canada  0.425% 1/19/24      1,500      1,432
7 Royal Bank of Canada  2.550% 7/16/24        975        941
  Royal Bank of Canada  0.650% 7/29/24      1,000        934
7 Royal Bank of Canada  0.750% 10/7/24        500        465
  Royal Bank of Canada  5.660% 10/25/24        875        885
7 Royal Bank of Canada  2.250% 11/1/24      1,750      1,669
7 Royal Bank of Canada  1.600% 1/21/25        350        327
  Royal Bank of Canada  3.375% 4/14/25        925        896
7 Royal Bank of Canada  1.150% 6/10/25      2,050      1,878
7 Royal Bank of Canada  0.875% 1/20/26      1,400      1,244
 
74

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Royal Bank of Canada  4.650% 1/27/26      1,865      1,842
  Royal Bank of Canada  1.200% 4/27/26      1,675      1,491
7 Royal Bank of Canada  1.150% 7/14/26        600        529
7 Royal Bank of Canada  1.400% 11/2/26        500        439
7 Royal Bank of Canada  2.050% 1/21/27        350        315
  Royal Bank of Canada  3.625% 5/4/27        925        881
7 Royal Bank of Canada  4.240% 8/3/27        675        658
  Royal Bank of Canada  6.000% 11/1/27        875        911
7 Royal Bank of Canada  2.300% 11/3/31      3,650      2,929
  Royal Bank of Canada  3.875% 5/4/32        925        844
  Santander Holdings USA Inc.  4.260% 6/9/25        500        485
  Santander Holdings USA Inc.  4.500% 7/17/25        867        848
  Santander Holdings USA Inc.  3.244% 10/5/26      6,867      6,358
  Santander Holdings USA Inc.  4.400% 7/13/27        900        858
  Santander Holdings USA Inc.  2.490% 1/6/28        925        796
7 Santander UK Group Holdings plc  1.532% 8/21/26      3,000      2,641
7 Santander UK Group Holdings plc  3.823% 11/3/28        500        446
  Santander UK Group Holdings plc  2.896% 3/15/32        500        386
  Santander UK plc  4.000% 3/13/24      1,200      1,186
  Santander UK plc  2.875% 6/18/24        225        217
  Selective Insurance Group Inc.  5.375% 3/1/49        240        205
  Sixth Street Specialty Lending Inc.  3.875% 11/1/24        225        217
10 Societe Generale SA  3.000% 1/22/30      1,000        815
10 Standard Chartered plc  4.644% 4/1/31      1,000        899
  State Street Corp.  3.550% 8/18/25        635        618
7 State Street Corp.  2.354% 11/1/25        550        525
  State Street Corp.  2.650% 5/19/26      4,500      4,234
  State Street Corp.  5.751% 11/4/26        500        514
  State Street Corp.  5.820% 11/4/28        500        517
7 State Street Corp.  4.141% 12/3/29        800        755
  State Street Corp.  2.400% 1/24/30        625        531
  State Street Corp.  2.200% 3/3/31        500        400
7 State Street Corp.  3.031% 11/1/34        550        464
  Stewart Information Services Corp.  3.600% 11/15/31        500        381
  Stifel Financial Corp.  4.250% 7/18/24        400        392
  Stifel Financial Corp.  4.000% 5/15/30        100         87
  Sumitomo Mitsui Banking Corp.  3.950% 1/10/24        725        715
7 Sumitomo Mitsui Banking Corp.  3.400% 7/11/24      2,925      2,840
  Sumitomo Mitsui Financial Group Inc.  0.508% 1/12/24        850        809
  Sumitomo Mitsui Financial Group Inc.  2.696% 7/16/24      2,500      2,400
  Sumitomo Mitsui Financial Group Inc.  2.448% 9/27/24      1,500      1,426
  Sumitomo Mitsui Financial Group Inc.  2.348% 1/15/25      1,805      1,708
  Sumitomo Mitsui Financial Group Inc.  1.474% 7/8/25      1,250      1,139
  Sumitomo Mitsui Financial Group Inc.  0.948% 1/12/26        829        731
  Sumitomo Mitsui Financial Group Inc.  2.632% 7/14/26      1,200      1,099
  Sumitomo Mitsui Financial Group Inc.  1.402% 9/17/26      1,000        867
  Sumitomo Mitsui Financial Group Inc.  3.010% 10/19/26        650        602
  Sumitomo Mitsui Financial Group Inc.  3.446% 1/11/27      1,000        934
  Sumitomo Mitsui Financial Group Inc.  2.174% 1/14/27        525        465
  Sumitomo Mitsui Financial Group Inc.  3.364% 7/12/27      2,600      2,400
  Sumitomo Mitsui Financial Group Inc.  3.544% 1/17/28      1,700      1,578
  Sumitomo Mitsui Financial Group Inc.  3.944% 7/19/28        650        611
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Sumitomo Mitsui Financial Group Inc.  1.902% 9/17/28      3,000      2,479
  Sumitomo Mitsui Financial Group Inc.  4.306% 10/16/28        250        235
  Sumitomo Mitsui Financial Group Inc.  3.040% 7/16/29      1,000        868
  Sumitomo Mitsui Financial Group Inc.  3.202% 9/17/29      1,100        945
  Sumitomo Mitsui Financial Group Inc.  2.724% 9/27/29        400        337
  Sumitomo Mitsui Financial Group Inc.  2.750% 1/15/30      1,175        986
  Sumitomo Mitsui Financial Group Inc.  2.130% 7/8/30      1,300      1,030
  Sumitomo Mitsui Financial Group Inc.  1.710% 1/12/31        750        564
  Sumitomo Mitsui Financial Group Inc.  2.222% 9/17/31      1,000        771
  Sumitomo Mitsui Financial Group Inc.  2.296% 1/12/41        600        376
  SVB Financial Group  3.500% 1/29/25        319        306
  SVB Financial Group  1.800% 10/28/26        600        526
  SVB Financial Group  4.345% 4/29/28        500        472
  SVB Financial Group  2.100% 5/15/28        500        416
  SVB Financial Group  3.125% 6/5/30        300        246
  SVB Financial Group  1.800% 2/2/31        700        509
  SVB Financial Group  4.570% 4/29/33        500        440
  Synchrony Financial  4.375% 3/19/24        500        491
  Synchrony Financial  4.250% 8/15/24        700        684
  Synchrony Financial  4.500% 7/23/25      1,298      1,247
  Synchrony Financial  3.700% 8/4/26        500        461
  Synchrony Financial  3.950% 12/1/27      1,125      1,004
7 Toronto-Dominion Bank  0.750% 6/12/23      3,000      2,945
7 Toronto-Dominion Bank  2.350% 3/8/24      1,395      1,353
7 Toronto-Dominion Bank  3.250% 3/11/24        550        538
7 Toronto-Dominion Bank  2.650% 6/12/24      3,000      2,905
  Toronto-Dominion Bank  1.250% 12/13/24      3,100      2,884
7 Toronto-Dominion Bank  1.450% 1/10/25        500        466
  Toronto-Dominion Bank  3.766% 6/6/25      2,050      1,990
7 Toronto-Dominion Bank  1.150% 6/12/25      1,550      1,413
7 Toronto-Dominion Bank  0.750% 1/6/26        900        796
7 Toronto-Dominion Bank  1.250% 9/10/26        600        524
7 Toronto-Dominion Bank  1.950% 1/12/27        500        447
7 Toronto-Dominion Bank  2.800% 3/10/27        250        229
  Toronto-Dominion Bank  4.108% 6/8/27      2,050      1,980
7 Toronto-Dominion Bank  2.000% 9/10/31        600        472
7 Toronto-Dominion Bank  3.625% 9/15/31        500        460
7 Toronto-Dominion Bank  2.450% 1/12/32        500        404
7 Toronto-Dominion Bank  3.200% 3/10/32      2,250      1,939
  Toronto-Dominion Bank  4.456% 6/8/32      2,050      1,949
  Transatlantic Holdings Inc.  8.000% 11/30/39        625        771
  Travelers Cos. Inc.  6.750% 6/20/36        475        534
7 Travelers Cos. Inc.  6.250% 6/15/37      1,060      1,151
  Travelers Cos. Inc.  5.350% 11/1/40        530        526
  Travelers Cos. Inc.  4.600% 8/1/43        500        442
  Travelers Cos. Inc.  4.300% 8/25/45        250        212
  Travelers Cos. Inc.  4.000% 5/30/47      1,050        851
  Travelers Cos. Inc.  4.050% 3/7/48        250        203
  Travelers Cos. Inc.  2.550% 4/27/50        500        312
  Trinity Acquisition plc  4.400% 3/15/26        450        436
7 Truist Bank  3.200% 4/1/24      3,000      2,931
7 Truist Bank  2.150% 12/6/24      2,300      2,187
7 Truist Bank  3.625% 9/16/25      2,600      2,500
7 Truist Bank  3.300% 5/15/26      1,216      1,144
7 Truist Bank  3.800% 10/30/26        400        379
7 Truist Financial Corp.  2.500% 8/1/24        100         96
7 Truist Financial Corp.  2.850% 10/26/24        791        763
  Truist Financial Corp.  4.000% 5/1/25         35         34
 
75

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Truist Financial Corp.  3.700% 6/5/25      1,902      1,849
7 Truist Financial Corp.  1.200% 8/5/25        500        457
7 Truist Financial Corp.  1.267% 3/2/27      2,000      1,775
7 Truist Financial Corp.  1.125% 8/3/27      2,750      2,319
7 Truist Financial Corp.  3.875% 3/19/29        600        552
7 Truist Financial Corp.  1.887% 6/7/29        675        567
7 Truist Financial Corp.  1.950% 6/5/30        300        241
7 Truist Financial Corp.  4.916% 7/28/33        800        750
10 UBS Group AG  3.126% 8/13/30      1,175        992
  Unum Group  4.000% 6/15/29        210        190
  Unum Group  5.750% 8/15/42        400        359
  Unum Group  4.500% 12/15/49        500        356
  Unum Group  4.125% 6/15/51        500        343
7 US Bancorp  3.700% 1/30/24        650        642
  US Bancorp  3.375% 2/5/24      1,000        983
  US Bancorp  2.400% 7/30/24      1,025        986
7 US Bancorp  3.950% 11/17/25        150        147
7 US Bancorp  3.100% 4/27/26      2,257      2,134
7 US Bancorp  2.375% 7/22/26        125        115
  US Bancorp  5.727% 10/21/26      1,525      1,554
7 US Bancorp  3.150% 4/27/27      3,314      3,115
7 US Bancorp  3.900% 4/26/28        525        503
  US Bancorp  4.548% 7/22/28        700        686
7 US Bancorp  3.000% 7/30/29      1,775      1,559
7 US Bancorp  2.677% 1/27/33        500        413
  US Bancorp  4.967% 7/22/33      1,130      1,074
  US Bancorp  5.850% 10/21/33      1,525      1,584
7 US Bank NA  2.050% 1/21/25      1,250      1,184
7 US Bank NA  2.800% 1/27/25      1,749      1,685
  Visa Inc.  3.150% 12/14/25      4,000      3,858
  Visa Inc.  1.900% 4/15/27      1,400      1,263
  Visa Inc.  0.750% 8/15/27        500        427
  Visa Inc.  2.750% 9/15/27        896        831
  Visa Inc.  2.050% 4/15/30      1,475      1,250
  Visa Inc.  1.100% 2/15/31        800        615
  Visa Inc.  4.150% 12/14/35      2,100      1,980
  Visa Inc.  2.700% 4/15/40      1,450      1,098
  Visa Inc.  4.300% 12/14/45      2,230      2,038
  Visa Inc.  3.650% 9/15/47        655        541
  Visa Inc.  2.000% 8/15/50      1,500        888
  Voya Financial Inc.  3.650% 6/15/26        750        711
  Voya Financial Inc.  5.700% 7/15/43        650        603
  Voya Financial Inc.  4.800% 6/15/46        125        102
  W R Berkley Corp.  4.750% 8/1/44        290        253
  W R Berkley Corp.  3.550% 3/30/52      1,000        689
  W R Berkley Corp.  3.150% 9/30/61        500        296
  Wachovia Corp.  6.605% 10/1/25      1,000      1,037
  Wachovia Corp.  7.500% 4/15/35        150        169
  Wachovia Corp.  5.500% 8/1/35        325        316
  Wachovia Corp.  6.550% 10/15/35        100        103
7 Wells Fargo & Co.  3.750% 1/24/24      1,000        987
7 Wells Fargo & Co.  1.654% 6/2/24      2,243      2,207
7 Wells Fargo & Co.  3.550% 9/29/25      1,149      1,105
7 Wells Fargo & Co.  2.406% 10/30/25      3,400      3,220
7 Wells Fargo & Co.  2.164% 2/11/26      5,000      4,666
  Wells Fargo & Co.  3.000% 4/22/26      4,025      3,766
7 Wells Fargo & Co.  3.908% 4/25/26      1,850      1,797
7 Wells Fargo & Co.  2.188% 4/30/26      3,000      2,792
7 Wells Fargo & Co.  4.100% 6/3/26      7,151      6,909
7 Wells Fargo & Co.  4.540% 8/15/26      1,300      1,275
  Wells Fargo & Co.  3.000% 10/23/26      2,275      2,103
7 Wells Fargo & Co.  4.300% 7/22/27      1,500      1,445
7 Wells Fargo & Co.  3.584% 5/22/28      1,048        971
7 Wells Fargo & Co.  2.393% 6/2/28      1,500      1,323
7 Wells Fargo & Co.  4.808% 7/25/28      4,205      4,099
7 Wells Fargo & Co.  4.150% 1/24/29        200        188
7 Wells Fargo & Co.  2.879% 10/30/30      8,000      6,802
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Wells Fargo & Co.  4.478% 4/4/31      5,210      4,883
7 Wells Fargo & Co.  4.897% 7/25/33      5,800      5,493
7 Wells Fargo & Co.  5.950% 12/15/36        225        214
7 Wells Fargo & Co.  3.068% 4/30/41      6,000      4,289
  Wells Fargo & Co.  5.375% 11/2/43      1,550      1,442
  Wells Fargo & Co.  5.606% 1/15/44      1,900      1,842
7 Wells Fargo & Co.  4.650% 11/4/44      2,175      1,836
  Wells Fargo & Co.  3.900% 5/1/45        650        501
7 Wells Fargo & Co.  4.900% 11/17/45      2,300      1,989
7 Wells Fargo & Co.  4.400% 6/14/46      1,375      1,099
7 Wells Fargo & Co.  4.750% 12/7/46      2,175      1,822
7 Wells Fargo & Co.  5.013% 4/4/51      5,500      4,892
7 Wells Fargo & Co.  4.611% 4/25/53      1,850      1,573
  Wells Fargo Bank NA  5.950% 8/26/36        550        554
7 Wells Fargo Bank NA  5.850% 2/1/37        425        428
7 Wells Fargo Bank NA  6.600% 1/15/38        605        656
  Western Union Co.  2.850% 1/10/25        400        382
  Western Union Co.  1.350% 3/15/26        500        438
  Western Union Co.  2.750% 3/15/31        500        378
  Western Union Co.  6.200% 11/17/36        410        406
  Westpac Banking Corp.  3.300% 2/26/24      1,000        983
  Westpac Banking Corp.  1.019% 11/18/24        900        837
  Westpac Banking Corp.  2.350% 2/19/25      1,575      1,494
  Westpac Banking Corp.  2.850% 5/13/26        450        421
  Westpac Banking Corp.  2.700% 8/19/26      5,650      5,242
  Westpac Banking Corp.  3.350% 3/8/27        800        753
  Westpac Banking Corp.  1.953% 11/20/28        900        766
  Westpac Banking Corp.  2.650% 1/16/30      1,620      1,406
7 Westpac Banking Corp.  2.894% 2/4/30      3,007      2,757
  Westpac Banking Corp.  5.405% 8/10/33        875        817
  Westpac Banking Corp.  4.110% 7/24/34      1,750      1,499
  Westpac Banking Corp.  2.668% 11/15/35      1,250        929
  Westpac Banking Corp.  3.020% 11/18/36      2,000      1,480
  Westpac Banking Corp.  2.963% 11/16/40      1,000        659
  Willis North America Inc.  3.600% 5/15/24        600        584
  Willis North America Inc.  4.500% 9/15/28      1,500      1,412
  Willis North America Inc.  2.950% 9/15/29      1,260      1,060
  Willis North America Inc.  5.050% 9/15/48        200        168
  Willis North America Inc.  3.875% 9/15/49        625        445
  XLIT Ltd.  5.250% 12/15/43        100         98
  XLIT Ltd.  5.500% 3/31/45        450        427
  Zions Bancorp NA  3.250% 10/29/29        250        205
                                               1,514,682
Health Care (1.1%)
  Abbott Laboratories  2.950% 3/15/25      1,760      1,700
  Abbott Laboratories  3.875% 9/15/25      1,539      1,510
  Abbott Laboratories  3.750% 11/30/26      1,502      1,464
  Abbott Laboratories  1.150% 1/30/28      1,850      1,573
  Abbott Laboratories  1.400% 6/30/30        400        318
  Abbott Laboratories  4.750% 11/30/36        700        693
  Abbott Laboratories  6.150% 11/30/37        425        474
  Abbott Laboratories  6.000% 4/1/39        250        274
  Abbott Laboratories  5.300% 5/27/40        310        317
  Abbott Laboratories  4.900% 11/30/46      4,865      4,760
  AbbVie Inc.  2.800% 3/15/23        225        224
  AbbVie Inc.  3.850% 6/15/24        975        960
  AbbVie Inc.  2.600% 11/21/24      4,225      4,045
  AbbVie Inc.  3.600% 5/14/25      3,618      3,507
  AbbVie Inc.  3.200% 5/14/26      5,071      4,800
  AbbVie Inc.  2.950% 11/21/26      4,390      4,091
  AbbVie Inc.  4.250% 11/14/28      1,750      1,692
  AbbVie Inc.  3.200% 11/21/29      3,150      2,840
  AbbVie Inc.  4.550% 3/15/35      3,150      2,945
  AbbVie Inc.  4.500% 5/14/35      2,030      1,890
  AbbVie Inc.  4.300% 5/14/36      1,675      1,514
  AbbVie Inc.  4.050% 11/21/39      3,850      3,297
  AbbVie Inc.  4.625% 10/1/42        430        385
 
76

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  AbbVie Inc.  4.400% 11/6/42      2,619      2,274
  AbbVie Inc.  4.850% 6/15/44        945        865
  AbbVie Inc.  4.750% 3/15/45        525        471
  AbbVie Inc.  4.700% 5/14/45      2,257      2,016
  AbbVie Inc.  4.450% 5/14/46      2,100      1,822
  AbbVie Inc.  4.875% 11/14/48        400        368
  AbbVie Inc.  4.250% 11/21/49      4,965      4,173
  Adventist Health System  2.952% 3/1/29        350        298
  Adventist Health System  5.430% 3/1/32        500        493
  Adventist Health System  3.630% 3/1/49        375        265
  Advocate Health & Hospitals Corp.  3.829% 8/15/28        225        210
7 Advocate Health & Hospitals Corp.  2.211% 6/15/30        100         82
  Advocate Health & Hospitals Corp.  4.272% 8/15/48        375        313
  Advocate Health & Hospitals Corp.  3.387% 10/15/49        250        179
7 Advocate Health & Hospitals Corp.  3.008% 6/15/50        300        200
  Aetna Inc.  3.500% 11/15/24        995        967
  Aetna Inc.  6.625% 6/15/36      1,100      1,171
  Aetna Inc.  6.750% 12/15/37        350        374
  Aetna Inc.  4.500% 5/15/42        375        325
  Aetna Inc.  4.125% 11/15/42        325        267
  Aetna Inc.  3.875% 8/15/47      1,000        773
  Agilent Technologies Inc.  3.050% 9/22/26        450        418
  Agilent Technologies Inc.  2.750% 9/15/29        293        252
  Agilent Technologies Inc.  2.100% 6/4/30        325        263
  Agilent Technologies Inc.  2.300% 3/12/31        500        405
  AHS Hospital Corp.  5.024% 7/1/45        325        311
7 AHS Hospital Corp.  2.780% 7/1/51        500        308
7 Allina Health System  3.887% 4/15/49        325        257
  AmerisourceBergen Corp.  3.400% 5/15/24        900        879
  AmerisourceBergen Corp.  3.250% 3/1/25        325        313
  AmerisourceBergen Corp.  3.450% 12/15/27        700        654
  AmerisourceBergen Corp.  2.800% 5/15/30        975        827
  AmerisourceBergen Corp.  2.700% 3/15/31      2,000      1,659
  AmerisourceBergen Corp.  4.250% 3/1/45        100         82
  AmerisourceBergen Corp.  4.300% 12/15/47        816        678
  Amgen Inc.  3.625% 5/22/24      1,150      1,129
  Amgen Inc.  1.900% 2/21/25        840        788
  Amgen Inc.  2.600% 8/19/26      1,845      1,705
  Amgen Inc.  2.200% 2/21/27      2,475      2,225
  Amgen Inc.  3.200% 11/2/27      1,000        927
  Amgen Inc.  1.650% 8/15/28      1,000        835
  Amgen Inc.  4.050% 8/18/29        650        609
  Amgen Inc.  2.450% 2/21/30      1,675      1,413
  Amgen Inc.  2.300% 2/25/31      2,100      1,710
  Amgen Inc.  2.000% 1/15/32      1,250        975
  Amgen Inc.  3.350% 2/22/32      1,000        873
  Amgen Inc.  3.150% 2/21/40      2,800      2,068
  Amgen Inc.  2.800% 8/15/41      1,000        694
  Amgen Inc.  4.950% 10/1/41        500        458
  Amgen Inc.  5.150% 11/15/41        451        420
  Amgen Inc.  4.400% 5/1/45      2,350      1,963
  Amgen Inc.  4.563% 6/15/48        656        565
  Amgen Inc.  3.375% 2/21/50      1,875      1,311
  Amgen Inc.  4.663% 6/15/51      2,439      2,111
  Amgen Inc.  3.000% 1/15/52      2,500      1,607
  Amgen Inc.  4.200% 2/22/52      1,500      1,204
  Amgen Inc.  4.875% 3/1/53        600        534
  Amgen Inc.  2.770% 9/1/53      2,126      1,284
  Amgen Inc.  4.400% 2/22/62        700        562
7 Ascension Health  2.532% 11/15/29      1,056        905
7 Ascension Health  3.106% 11/15/39        300        229
  Ascension Health  3.945% 11/15/46        650        541
7 Ascension Health  4.847% 11/15/53        610        578
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  AstraZeneca Finance LLC  0.700% 5/28/24      1,000        943
  AstraZeneca Finance LLC  1.200% 5/28/26        500        445
  AstraZeneca Finance LLC  1.750% 5/28/28      1,100        945
  AstraZeneca Finance LLC  2.250% 5/28/31        500        416
  AstraZeneca plc  3.375% 11/16/25      2,574      2,488
  AstraZeneca plc  0.700% 4/8/26      1,000        880
  AstraZeneca plc  3.125% 6/12/27        500        470
  AstraZeneca plc  1.375% 8/6/30      1,020        806
  AstraZeneca plc  6.450% 9/15/37      2,105      2,376
  AstraZeneca plc  4.000% 9/18/42        670        579
  AstraZeneca plc  4.375% 11/16/45      1,475      1,330
  AstraZeneca plc  4.375% 8/17/48        550        493
  AstraZeneca plc  2.125% 8/6/50        500        294
  AstraZeneca plc  3.000% 5/28/51        250        177
  Banner Health  2.338% 1/1/30        375        312
  Banner Health  1.897% 1/1/31        500        394
  Banner Health  2.907% 1/1/42        500        366
7 Banner Health  3.181% 1/1/50        225        157
  Banner Health  2.913% 1/1/51        500        326
7 Baptist Health South Florida Obligated Group  3.115% 11/15/71        500        292
7 Baptist Healthcare System Obligated Group  3.540% 8/15/50        500        355
  Baxalta Inc.  4.000% 6/23/25      1,411      1,374
  Baxalta Inc.  5.250% 6/23/45        415        393
  Baxter International Inc.  1.322% 11/29/24        950        884
  Baxter International Inc.  2.600% 8/15/26        400        370
  Baxter International Inc.  1.915% 2/1/27      1,675      1,488
  Baxter International Inc.  2.272% 12/1/28      1,175      1,003
  Baxter International Inc.  3.950% 4/1/30        555        506
  Baxter International Inc.  1.730% 4/1/31        600        458
  Baxter International Inc.  2.539% 2/1/32      2,675      2,131
  Baxter International Inc.  3.500% 8/15/46        375        268
  Baxter International Inc.  3.132% 12/1/51        950        621
7 Baylor Scott & White Holdings  1.777% 11/15/30        500        391
  Baylor Scott & White Holdings  4.185% 11/15/45        400        337
7 Baylor Scott & White Holdings  2.839% 11/15/50      1,500        990
  Becton Dickinson & Co.  3.363% 6/6/24        873        852
  Becton Dickinson & Co.  3.734% 12/15/24        495        483
  Becton Dickinson & Co.  3.700% 6/6/27      1,430      1,353
  Becton Dickinson & Co.  2.823% 5/20/30      1,000        857
  Becton Dickinson & Co.  1.957% 2/11/31      1,000        790
  Becton Dickinson & Co.  4.875% 5/15/44         88         74
  Becton Dickinson & Co.  4.685% 12/15/44        675        601
  Becton Dickinson & Co.  4.669% 6/6/47      2,225      1,963
7 Beth Israel Lahey Health Inc.  3.080% 7/1/51        500        307
7 BHSH System Obligated Group  3.487% 7/15/49        275        199
  Biogen Inc.  4.050% 9/15/25      1,450      1,408
  Biogen Inc.  2.250% 5/1/30      1,625      1,321
  Biogen Inc.  3.150% 5/1/50        645        426
  Biogen Inc.  3.250% 2/15/51        589        395
  Bio-Rad Laboratories Inc.  3.300% 3/15/27        250        231
  Bio-Rad Laboratories Inc.  3.700% 3/15/32        500        429
7 Bon Secours Mercy Health Inc.  4.302% 7/1/28        175        166
7 Bon Secours Mercy Health Inc.  3.464% 6/1/30        308        274
7 Bon Secours Mercy Health Inc.  2.095% 6/1/31        250        194
7 Bon Secours Mercy Health Inc.  3.205% 6/1/50        250        161
  Boston Scientific Corp.  3.450% 3/1/24        318        312
  Boston Scientific Corp.  1.900% 6/1/25        650        607
  Boston Scientific Corp.  2.650% 6/1/30        700        601
  Boston Scientific Corp.  6.750% 11/15/35        225        245
  Boston Scientific Corp.  4.550% 3/1/39        559        502
  Boston Scientific Corp.  7.375% 1/15/40        225        261
  Boston Scientific Corp.  4.700% 3/1/49      1,064        961
  Bristol-Myers Squibb Co.  2.900% 7/26/24      2,700      2,623
  Bristol-Myers Squibb Co.  0.750% 11/13/25        500        450
  Bristol-Myers Squibb Co.  3.200% 6/15/26      1,303      1,244
 
77

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Bristol-Myers Squibb Co.  3.450% 11/15/27      1,095      1,045
  Bristol-Myers Squibb Co.  3.900% 2/20/28      1,700      1,642
  Bristol-Myers Squibb Co.  3.400% 7/26/29      1,050        975
  Bristol-Myers Squibb Co.  1.450% 11/13/30        500        394
  Bristol-Myers Squibb Co.  2.950% 3/15/32      3,000      2,617
  Bristol-Myers Squibb Co.  4.125% 6/15/39      1,330      1,186
  Bristol-Myers Squibb Co.  3.550% 3/15/42      1,489      1,211
  Bristol-Myers Squibb Co.  3.250% 8/1/42        390        298
  Bristol-Myers Squibb Co.  4.350% 11/15/47      1,750      1,546
  Bristol-Myers Squibb Co.  4.550% 2/20/48      2,116      1,922
  Bristol-Myers Squibb Co.  4.250% 10/26/49      3,355      2,902
  Bristol-Myers Squibb Co.  2.550% 11/13/50      1,150        726
  Bristol-Myers Squibb Co.  3.700% 3/15/52      3,160      2,467
  Bristol-Myers Squibb Co.  3.900% 3/15/62      1,500      1,171
  Cardinal Health Inc.  3.079% 6/15/24        500        486
  Cardinal Health Inc.  3.750% 9/15/25        225        218
  Cardinal Health Inc.  4.600% 3/15/43        400        330
  Cardinal Health Inc.  4.500% 11/15/44        250        200
  Cardinal Health Inc.  4.900% 9/15/45        375        319
  Cardinal Health Inc.  4.368% 6/15/47        500        394
7 Catholic Health Services of Long Island Obligated Group  3.368% 7/1/50        500        337
  Centene Corp.  4.250% 12/15/27      2,262      2,124
  Centene Corp.  2.450% 7/15/28      1,267      1,069
  Centene Corp.  4.625% 12/15/29      2,946      2,701
  Centene Corp.  3.375% 2/15/30        535        453
  Centene Corp.  3.000% 10/15/30      1,954      1,601
  Centene Corp.  2.500% 3/1/31      1,869      1,462
  Centene Corp.  2.625% 8/1/31      1,210        950
  Children's Health System of Texas  2.511% 8/15/50        500        300
7 Children's Hospital  2.928% 7/15/50        500        310
7 Children's Hospital Corp.  4.115% 1/1/47        200        168
7 Children's Hospital Corp.  2.585% 2/1/50        200        121
  Children's Hospital Medical Center  4.268% 5/15/44        150        132
7 Children's Hospital of Philadelphia  2.704% 7/1/50        500        321
7 CHRISTUS Health  4.341% 7/1/28        425        404
7 Cigna Corp.  3.250% 4/15/25      3,576      3,444
7 Cigna Corp.  4.500% 2/25/26      1,655      1,631
7 Cigna Corp.  3.400% 3/1/27      2,850      2,675
  Cigna Corp.  4.375% 10/15/28      1,775      1,712
  Cigna Corp.  2.400% 3/15/30      1,515      1,269
  Cigna Corp.  4.800% 8/15/38      1,570      1,463
  Cigna Corp.  3.200% 3/15/40      1,250        946
7 Cigna Corp.  6.125% 11/15/41        334        347
7 Cigna Corp.  4.800% 7/15/46      4,550      4,091
7 Cigna Corp.  3.875% 10/15/47      1,025        791
  Cigna Corp.  3.400% 3/15/50      1,725      1,224
  Cigna Corp.  3.400% 3/15/51      1,000        715
7 City of Hope  5.623% 11/15/43        250        246
7 City of Hope  4.378% 8/15/48        500        414
  CommonSpirit Health  2.760% 10/1/24        500        479
  CommonSpirit Health  1.547% 10/1/25        500        450
  CommonSpirit Health  3.347% 10/1/29        725        628
  CommonSpirit Health  2.782% 10/1/30        500        411
7 CommonSpirit Health  4.350% 11/1/42        790        664
  CommonSpirit Health  3.817% 10/1/49        225        168
  CommonSpirit Health  4.187% 10/1/49        780        606
  CommonSpirit Health  3.910% 10/1/50        330        244
7 Community Health Network Inc.  3.099% 5/1/50      2,000      1,260
7 Cottage Health Obligated Group  3.304% 11/1/49        425        303
  CVS Health Corp.  3.375% 8/12/24        360        351
  CVS Health Corp.  3.875% 7/20/25      3,175      3,100
  CVS Health Corp.  2.875% 6/1/26      6,547      6,114
  CVS Health Corp.  3.000% 8/15/26      1,300      1,214
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  CVS Health Corp.  3.625% 4/1/27        475        451
  CVS Health Corp.  1.300% 8/21/27      1,000        848
  CVS Health Corp.  4.300% 3/25/28      4,284      4,144
  CVS Health Corp.  3.250% 8/15/29        675        604
  CVS Health Corp.  3.750% 4/1/30      1,563      1,419
  CVS Health Corp.  1.750% 8/21/30      2,000      1,572
  CVS Health Corp.  1.875% 2/28/31      2,000      1,566
  CVS Health Corp.  4.875% 7/20/35        525        498
  CVS Health Corp.  4.780% 3/25/38      4,300      3,940
  CVS Health Corp.  6.125% 9/15/39        375        386
  CVS Health Corp.  4.125% 4/1/40      2,175      1,810
  CVS Health Corp.  2.700% 8/21/40      1,500      1,028
  CVS Health Corp.  5.300% 12/5/43        650        609
  CVS Health Corp.  5.125% 7/20/45      3,775      3,440
  CVS Health Corp.  5.050% 3/25/48      4,465      4,030
  CVS Health Corp.  4.250% 4/1/50      1,700      1,365
  Danaher Corp.  3.350% 9/15/25      1,102      1,061
  Danaher Corp.  2.600% 10/1/50        550        352
  Danaher Corp.  2.800% 12/10/51        500        333
7 Dartmouth-Hitchcock Health  4.178% 8/1/48        300        233
  DENTSPLY SIRONA Inc.  3.250% 6/1/30        575        476
  DH Europe Finance II Sarl  2.200% 11/15/24      1,450      1,381
  DH Europe Finance II Sarl  3.250% 11/15/39        725        581
  DH Europe Finance II Sarl  3.400% 11/15/49      1,200        906
  Dignity Health  3.812% 11/1/24        100         97
  Dignity Health  4.500% 11/1/42        550        459
  Dignity Health  5.267% 11/1/64        225        194
7 Duke University Health System Inc.  3.920% 6/1/47        450        363
  Edwards Lifesciences Corp.  4.300% 6/15/28        475        455
  Elevance Health Inc.  3.500% 8/15/24        975        951
  Elevance Health Inc.  2.375% 1/15/25      1,409      1,338
  Elevance Health Inc.  5.350% 10/15/25        500        506
  Elevance Health Inc.  2.875% 9/15/29        425        373
  Elevance Health Inc.  2.250% 5/15/30      4,000      3,319
  Elevance Health Inc.  2.550% 3/15/31      1,280      1,072
  Elevance Health Inc.  4.100% 5/15/32        700        650
  Elevance Health Inc.  5.500% 10/15/32        500        512
  Elevance Health Inc.  5.850% 1/15/36        300        307
  Elevance Health Inc.  6.375% 6/15/37        300        322
  Elevance Health Inc.  4.625% 5/15/42      1,275      1,160
  Elevance Health Inc.  4.650% 1/15/43      1,750      1,585
  Elevance Health Inc.  5.100% 1/15/44      1,200      1,143
  Elevance Health Inc.  4.650% 8/15/44        525        468
  Elevance Health Inc.  4.375% 12/1/47        918        791
  Elevance Health Inc.  4.550% 3/1/48        120        106
  Elevance Health Inc.  3.700% 9/15/49        700        535
  Elevance Health Inc.  3.125% 5/15/50      1,270        881
  Elevance Health Inc.  3.600% 3/15/51      1,500      1,129
  Elevance Health Inc.  4.550% 5/15/52        700        613
  Elevance Health Inc.  6.100% 10/15/52        500        538
  Eli Lilly & Co.  2.750% 6/1/25        380        363
  Eli Lilly & Co.  3.375% 3/15/29        335        314
  Eli Lilly & Co.  3.950% 3/15/49      1,335      1,188
  Eli Lilly & Co.  2.500% 9/15/60        500        307
7 Franciscan Missionaries of Our Lady Health System Inc.  3.914% 7/1/49        500        376
10 GE HealthCare Technologies Inc.  5.550% 11/15/24        500        502
10 GE HealthCare Technologies Inc.  5.600% 11/15/25        500        503
10 GE HealthCare Technologies Inc.  5.650% 11/15/27        500        507
10 GE HealthCare Technologies Inc.  5.857% 3/15/30        750        769
10 GE HealthCare Technologies Inc.  5.905% 11/22/32      1,500      1,556
10 GE HealthCare Technologies Inc.  6.377% 11/22/52        829        889
  Gilead Sciences Inc.  0.750% 9/29/23        562        544
  Gilead Sciences Inc.  3.700% 4/1/24      1,375      1,352
  Gilead Sciences Inc.  3.500% 2/1/25        345        334
  Gilead Sciences Inc.  3.650% 3/1/26      4,305      4,156
 
78

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Gilead Sciences Inc.  2.950% 3/1/27        175        163
  Gilead Sciences Inc.  1.200% 10/1/27        900        764
  Gilead Sciences Inc.  4.600% 9/1/35        700        664
  Gilead Sciences Inc.  4.000% 9/1/36      1,250      1,102
  Gilead Sciences Inc.  2.600% 10/1/40      1,000        701
  Gilead Sciences Inc.  5.650% 12/1/41        800        818
  Gilead Sciences Inc.  4.800% 4/1/44      1,325      1,222
  Gilead Sciences Inc.  4.500% 2/1/45      1,400      1,228
  Gilead Sciences Inc.  4.750% 3/1/46      2,675      2,419
  Gilead Sciences Inc.  2.800% 10/1/50      2,325      1,505
  GlaxoSmithKline Capital Inc.  3.625% 5/15/25      1,874      1,831
  GlaxoSmithKline Capital Inc.  3.875% 5/15/28      2,150      2,066
  GlaxoSmithKline Capital Inc.  5.375% 4/15/34        180        186
  GlaxoSmithKline Capital Inc.  6.375% 5/15/38      2,245      2,525
  GlaxoSmithKline Capital plc  3.000% 6/1/24      1,025        997
7 Hackensack Meridian Health Inc.  2.675% 9/1/41        500        345
  Hackensack Meridian Health Inc.  4.211% 7/1/48        500        417
7 Hackensack Meridian Health Inc.  2.875% 9/1/50        500        319
  Hackensack Meridian Health Inc.  4.500% 7/1/57        225        193
7 Hartford HealthCare Corp.  3.447% 7/1/54        300        211
  HCA Inc.  5.000% 3/15/24      1,650      1,641
  HCA Inc.  5.375% 2/1/25      1,750      1,748
  HCA Inc.  5.250% 4/15/25      1,350      1,342
  HCA Inc.  5.875% 2/15/26        500        503
  HCA Inc.  5.250% 6/15/26      1,150      1,137
  HCA Inc.  4.500% 2/15/27      1,535      1,478
  HCA Inc.  5.625% 9/1/28        750        746
  HCA Inc.  4.125% 6/15/29      2,420      2,209
  HCA Inc.  3.500% 9/1/30      2,500      2,151
  HCA Inc.  2.375% 7/15/31      1,750      1,359
10 HCA Inc.  3.625% 3/15/32      2,500      2,115
  HCA Inc.  5.125% 6/15/39        825        735
10 HCA Inc.  4.375% 3/15/42        500        400
  HCA Inc.  5.500% 6/15/47      1,700      1,512
  HCA Inc.  5.250% 6/15/49      1,945      1,665
  HCA Inc.  3.500% 7/15/51      1,000        645
10 HCA Inc.  4.625% 3/15/52      2,000      1,566
  Humana Inc.  3.850% 10/1/24        861        844
  Humana Inc.  4.500% 4/1/25        750        741
  Humana Inc.  1.350% 2/3/27        500        432
  Humana Inc.  3.950% 3/15/27        950        910
  Humana Inc.  5.750% 3/1/28        750        766
  Humana Inc.  3.125% 8/15/29        400        351
  Humana Inc.  4.875% 4/1/30        480        468
  Humana Inc.  2.150% 2/3/32        500        391
  Humana Inc.  5.875% 3/1/33        750        777
  Humana Inc.  4.625% 12/1/42        375        328
  Humana Inc.  4.950% 10/1/44        620        561
  Humana Inc.  3.950% 8/15/49        470        371
  IHC Health Services Inc.  4.131% 5/15/48        300        247
  Illumina Inc.  5.800% 12/12/25        500        504
  Illumina Inc.  5.750% 12/13/27        500        507
  Illumina Inc.  2.550% 3/23/31        500        400
  Indiana University Health Inc. Obligated Group  3.970% 11/1/48        500        413
7 Indiana University Health Inc. Obligated Group  2.852% 11/1/51        500        314
  Inova Health System Foundation  4.068% 5/15/52        500        414
7 Integris Baptist Medical Center Inc.  3.875% 8/15/50        750        541
7 Iowa Health System  3.665% 2/15/50        400        289
  Johns Hopkins Health System Corp.  3.837% 5/15/46        575        458
  Johnson & Johnson  2.625% 1/15/25      1,506      1,451
  Johnson & Johnson  2.450% 3/1/26      1,600      1,504
  Johnson & Johnson  0.950% 9/1/27      1,225      1,056
  Johnson & Johnson  2.900% 1/15/28      1,100      1,025
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Johnson & Johnson  1.300% 9/1/30      1,050        847
  Johnson & Johnson  4.950% 5/15/33        550        571
  Johnson & Johnson  4.375% 12/5/33        900        887
  Johnson & Johnson  3.550% 3/1/36      1,325      1,173
  Johnson & Johnson  3.625% 3/3/37      2,150      1,913
  Johnson & Johnson  5.950% 8/15/37        745        829
  Johnson & Johnson  5.850% 7/15/38        325        361
  Johnson & Johnson  2.100% 9/1/40        925        635
  Johnson & Johnson  4.500% 9/1/40        419        400
  Johnson & Johnson  4.850% 5/15/41        225        222
  Johnson & Johnson  4.500% 12/5/43        550        526
  Johnson & Johnson  3.700% 3/1/46      1,750      1,475
  Johnson & Johnson  3.750% 3/3/47        500        423
  Johnson & Johnson  3.500% 1/15/48        250        205
  Johnson & Johnson  2.250% 9/1/50        925        580
  Johnson & Johnson  2.450% 9/1/60      1,525        936
  Kaiser Foundation Hospitals  3.150% 5/1/27      1,031        961
7 Kaiser Foundation Hospitals  2.810% 6/1/41        500        362
  Kaiser Foundation Hospitals  4.875% 4/1/42        925        888
  Kaiser Foundation Hospitals  4.150% 5/1/47        675        573
7 Kaiser Foundation Hospitals  3.266% 11/1/49        375        270
7 Kaiser Foundation Hospitals  3.002% 6/1/51      1,500      1,020
  Koninklijke Philips NV  6.875% 3/11/38        300        318
  Koninklijke Philips NV  5.000% 3/15/42        785        688
  Laboratory Corp. of America Holdings  3.250% 9/1/24        500        485
  Laboratory Corp. of America Holdings  2.300% 12/1/24        425        402
  Laboratory Corp. of America Holdings  3.600% 2/1/25      1,421      1,376
  Laboratory Corp. of America Holdings  1.550% 6/1/26        500        443
  Laboratory Corp. of America Holdings  3.600% 9/1/27        450        427
  Laboratory Corp. of America Holdings  2.950% 12/1/29        525        451
  Laboratory Corp. of America Holdings  2.700% 6/1/31        500        414
  Laboratory Corp. of America Holdings  4.700% 2/1/45        800        689
7 Mass General Brigham Inc.  3.765% 7/1/48        150        117
7 Mass General Brigham Inc.  3.192% 7/1/49        400        278
7 Mass General Brigham Inc.  4.117% 7/1/55        275        218
7 Mass General Brigham Inc.  3.342% 7/1/60        725        488
7 Mayo Clinic  3.774% 11/15/43        250        204
7 Mayo Clinic  4.000% 11/15/47        150        124
7 Mayo Clinic  4.128% 11/15/52        125        105
7 Mayo Clinic  3.196% 11/15/61        750        495
  McKesson Corp.  0.900% 12/3/25        750        667
7 MedStar Health Inc.  3.626% 8/15/49        250        181
  Medtronic Inc.  4.375% 3/15/35      3,108      2,948
  Medtronic Inc.  4.625% 3/15/45        754        701
  Memorial Health Services  3.447% 11/1/49        500        358
  Memorial Sloan-Kettering Cancer Center  5.000% 7/1/42        100         98
7 Memorial Sloan-Kettering Cancer Center  2.955% 1/1/50        250        166
  Memorial Sloan-Kettering Cancer Center  4.125% 7/1/52        450        372
7 Memorial Sloan-Kettering Cancer Center  4.200% 7/1/55        150        124
  Merck & Co. Inc.  2.900% 3/7/24        500        489
  Merck & Co. Inc.  2.750% 2/10/25      2,250      2,157
  Merck & Co. Inc.  0.750% 2/24/26      2,743      2,431
  Merck & Co. Inc.  1.700% 6/10/27      1,450      1,288
  Merck & Co. Inc.  3.400% 3/7/29      1,500      1,397
  Merck & Co. Inc.  1.450% 6/24/30        770        614
  Merck & Co. Inc.  2.150% 12/10/31      3,350      2,737
 
79

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Merck & Co. Inc.  6.500% 12/1/33        525        593
  Merck & Co. Inc.  3.900% 3/7/39        600        527
  Merck & Co. Inc.  2.350% 6/24/40        775        541
  Merck & Co. Inc.  3.600% 9/15/42      1,425      1,172
  Merck & Co. Inc.  4.150% 5/18/43        980        871
  Merck & Co. Inc.  3.700% 2/10/45      2,295      1,888
  Merck & Co. Inc.  4.000% 3/7/49        600        514
  Merck & Co. Inc.  2.450% 6/24/50        750        480
  Merck & Co. Inc.  2.750% 12/10/51      3,675      2,473
  Merck & Co. Inc.  2.900% 12/10/61      1,200        773
7 Methodist Hospital  2.705% 12/1/50        500        312
7 Montefiore Obligated Group  5.246% 11/1/48        600        448
7 Mount Sinai Hospitals Group Inc.  3.981% 7/1/48        200        161
7 Mount Sinai Hospitals Group Inc.  3.737% 7/1/49        450        335
7 Mount Sinai Hospitals Group Inc.  3.391% 7/1/50        500        337
  MultiCare Health System  2.803% 8/15/50        500        295
  Mylan Inc.  4.550% 4/15/28        575        533
  Mylan Inc.  5.400% 11/29/43        400        317
  Mylan Inc.  5.200% 4/15/48        625        468
  New York & Presbyterian Hospital  4.024% 8/1/45        480        400
  New York & Presbyterian Hospital  4.063% 8/1/56        425        341
  New York & Presbyterian Hospital  2.606% 8/1/60        500        282
7 New York & Presbyterian Hospital  3.954% 8/1/19        400        280
  Northwell Healthcare Inc.  3.979% 11/1/46        525        401
  Northwell Healthcare Inc.  4.260% 11/1/47        850        680
  Northwell Healthcare Inc.  3.809% 11/1/49        375        268
  Novant Health Inc.  2.637% 11/1/36        500        369
  Novant Health Inc.  3.168% 11/1/51        500        345
  Novant Health Inc.  3.318% 11/1/61      1,000        669
  Novartis Capital Corp.  3.400% 5/6/24      2,735      2,680
  Novartis Capital Corp.  1.750% 2/14/25        255        241
  Novartis Capital Corp.  3.000% 11/20/25      1,400      1,342
  Novartis Capital Corp.  2.000% 2/14/27      2,340      2,130
  Novartis Capital Corp.  3.100% 5/17/27        800        758
  Novartis Capital Corp.  2.200% 8/14/30      2,175      1,849
  Novartis Capital Corp.  3.700% 9/21/42        525        442
  Novartis Capital Corp.  4.400% 5/6/44      1,050        975
  Novartis Capital Corp.  4.000% 11/20/45      1,200      1,059
  Novartis Capital Corp.  2.750% 8/14/50        850        591
7 NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery  2.667% 10/1/50        245        151
7 NYU Langone Hospitals  5.750% 7/1/43        375        379
  NYU Langone Hospitals  4.784% 7/1/44        325        290
7 NYU Langone Hospitals  4.368% 7/1/47        425        352
7 NYU Langone Hospitals  3.380% 7/1/55        525        350
7 Ochsner LSU Health System of North Louisiana  2.510% 5/15/31        500        361
  OhioHealth Corp.  2.297% 11/15/31        500        401
  OhioHealth Corp.  2.834% 11/15/41        500        355
7 OhioHealth Corp.  3.042% 11/15/50        300        209
  Orlando Health Obligated Group  4.089% 10/1/48        225        178
  Orlando Health Obligated Group  3.327% 10/1/50        500        345
7 PeaceHealth Obligated Group  4.787% 11/15/48        300        248
7 PeaceHealth Obligated Group  3.218% 11/15/50        500        326
  PerkinElmer Inc.  0.850% 9/15/24        500        464
  PerkinElmer Inc.  1.900% 9/15/28        500        415
  PerkinElmer Inc.  3.300% 9/15/29        500        436
  PerkinElmer Inc.  2.550% 3/15/31        500        404
  PerkinElmer Inc.  2.250% 9/15/31        500        391
  PerkinElmer Inc.  3.625% 3/15/51        350        243
  Pfizer Inc.  2.950% 3/15/24        500        489
  Pfizer Inc.  3.400% 5/15/24        200        196
  Pfizer Inc.  0.800% 5/28/25        300        275
  Pfizer Inc.  2.750% 6/3/26      2,556      2,410
  Pfizer Inc.  3.000% 12/15/26      1,295      1,227
  Pfizer Inc.  3.600% 9/15/28        600        575
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Pfizer Inc.  3.450% 3/15/29        750        707
  Pfizer Inc.  2.625% 4/1/30      1,175      1,030
  Pfizer Inc.  1.700% 5/28/30      1,750      1,439
  Pfizer Inc.  1.750% 8/18/31      1,900      1,528
  Pfizer Inc.  4.000% 12/15/36      1,000        913
  Pfizer Inc.  4.100% 9/15/38        600        544
  Pfizer Inc.  3.900% 3/15/39        550        485
  Pfizer Inc.  7.200% 3/15/39      1,015      1,231
  Pfizer Inc.  2.550% 5/28/40        750        545
  Pfizer Inc.  4.300% 6/15/43        780        717
  Pfizer Inc.  4.400% 5/15/44        725        673
  Pfizer Inc.  4.125% 12/15/46      1,575      1,393
  Pfizer Inc.  4.200% 9/15/48        500        448
  Pfizer Inc.  4.000% 3/15/49        850        737
  Pfizer Inc.  2.700% 5/28/50      3,275      2,229
  Pharmacia LLC  6.600% 12/1/28        912      1,003
7 Piedmont Healthcare Inc.  2.044% 1/1/32        500        384
  Piedmont Healthcare Inc.  2.864% 1/1/52        500        309
  Presbyterian Healthcare Services  4.875% 8/1/52        500        466
7 Providence St. Joseph Health Obligated Group  2.746% 10/1/26        457        427
7 Providence St. Joseph Health Obligated Group  2.532% 10/1/29        500        421
7 Providence St. Joseph Health Obligated Group  3.744% 10/1/47        325        252
7 Providence St. Joseph Health Obligated Group  3.930% 10/1/48        400        315
  Quest Diagnostics Inc.  4.250% 4/1/24        300        297
  Quest Diagnostics Inc.  3.500% 3/30/25        250        241
  Quest Diagnostics Inc.  3.450% 6/1/26      1,141      1,091
  Quest Diagnostics Inc.  4.200% 6/30/29        350        335
  Quest Diagnostics Inc.  2.950% 6/30/30        800        692
  Quest Diagnostics Inc.  2.800% 6/30/31        425        356
  Quest Diagnostics Inc.  5.750% 1/30/40         61         57
  Quest Diagnostics Inc.  4.700% 3/30/45        200        168
  Regeneron Pharmaceuticals Inc.  1.750% 9/15/30      1,000        774
  Regeneron Pharmaceuticals Inc.  2.800% 9/15/50        900        561
  Royalty Pharma plc  1.200% 9/2/25      1,000        895
  Royalty Pharma plc  1.750% 9/2/27      1,400      1,189
  Royalty Pharma plc  2.200% 9/2/30        900        703
  Royalty Pharma plc  3.300% 9/2/40      1,000        699
  Royalty Pharma plc  3.550% 9/2/50        800        516
  Royalty Pharma plc  3.350% 9/2/51        500        310
7 Rush Obligated Group  3.922% 11/15/29        245        221
  RWJ Barnabas Health Inc.  3.949% 7/1/46        350        284
  RWJ Barnabas Health Inc.  3.477% 7/1/49        100         73
  Sanofi  3.625% 6/19/28      1,000        955
7 Seattle Children's Hospital  2.719% 10/1/50        500        315
7 Sharp HealthCare  2.680% 8/1/50        500        308
  Shire Acquisitions Investments Ireland DAC  3.200% 9/23/26      2,685      2,524
  Smith & Nephew plc  2.032% 10/14/30        820        644
7 SSM Health Care Corp.  3.823% 6/1/27        375        354
7 Stanford Health Care  3.795% 11/15/48        450        358
  STERIS Irish FinCo Unltd. Co.  3.750% 3/15/51        600        429
  Stryker Corp.  3.375% 5/15/24        475        464
  Stryker Corp.  1.150% 6/15/25        400        366
  Stryker Corp.  3.375% 11/1/25        500        484
  Stryker Corp.  3.500% 3/15/26        890        854
  Stryker Corp.  3.650% 3/7/28        450        427
  Stryker Corp.  4.100% 4/1/43        325        266
  Stryker Corp.  4.375% 5/15/44        775        658
7 Sutter Health  1.321% 8/15/25        500        454
7 Sutter Health  3.695% 8/15/28        300        275
7 Sutter Health  2.294% 8/15/30        500        404
7 Sutter Health  3.161% 8/15/40        500        374
7 Sutter Health  4.091% 8/15/48        375        303
7 Sutter Health  3.361% 8/15/50        475        331
 
80

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Takeda Pharmaceutical Co. Ltd.  5.000% 11/26/28      2,460      2,442
  Takeda Pharmaceutical Co. Ltd.  2.050% 3/31/30      2,225      1,816
  Takeda Pharmaceutical Co. Ltd.  3.025% 7/9/40      1,700      1,247
  Takeda Pharmaceutical Co. Ltd.  3.175% 7/9/50      1,790      1,224
  Takeda Pharmaceutical Co. Ltd.  3.375% 7/9/60        900        605
  Texas Health Resources  2.328% 11/15/50        500        284
7 Texas Health Resources  4.330% 11/15/55        100         85
  Thermo Fisher Scientific Inc.  1.215% 10/18/24        900        845
  Thermo Fisher Scientific Inc.  4.800% 11/21/27        295        296
  Thermo Fisher Scientific Inc.  1.750% 10/15/28        500        424
  Thermo Fisher Scientific Inc.  2.600% 10/1/29        890        785
  Thermo Fisher Scientific Inc.  2.000% 10/15/31      2,000      1,618
  Thermo Fisher Scientific Inc.  4.950% 11/21/32        250        254
  Thermo Fisher Scientific Inc.  2.800% 10/15/41      1,000        737
  Thermo Fisher Scientific Inc.  5.300% 2/1/44        350        352
  Thermo Fisher Scientific Inc.  4.100% 8/15/47        400        349
7 Trinity Health Corp.  2.632% 12/1/40        500        343
  Trinity Health Corp.  4.125% 12/1/45        450        377
  UnitedHealth Group Inc.  2.375% 8/15/24        550        529
  UnitedHealth Group Inc.  5.000% 10/15/24        650        654
  UnitedHealth Group Inc.  3.750% 7/15/25      2,750      2,692
  UnitedHealth Group Inc.  5.150% 10/15/25        650        658
  UnitedHealth Group Inc.  3.700% 12/15/25        200        195
  UnitedHealth Group Inc.  1.250% 1/15/26        781        709
  UnitedHealth Group Inc.  3.100% 3/15/26        750        716
  UnitedHealth Group Inc.  1.150% 5/15/26        500        447
  UnitedHealth Group Inc.  3.450% 1/15/27      1,645      1,568
  UnitedHealth Group Inc.  3.700% 5/15/27        550        532
  UnitedHealth Group Inc.  5.250% 2/15/28      1,725      1,766
  UnitedHealth Group Inc.  3.850% 6/15/28      2,100      2,013
  UnitedHealth Group Inc.  3.875% 12/15/28        500        478
  UnitedHealth Group Inc.  2.875% 8/15/29        475        423
  UnitedHealth Group Inc.  5.300% 2/15/30        875        904
  UnitedHealth Group Inc.  2.000% 5/15/30      2,935      2,429
  UnitedHealth Group Inc.  2.300% 5/15/31      2,900      2,416
  UnitedHealth Group Inc.  5.350% 2/15/33      1,725      1,787
  UnitedHealth Group Inc.  6.500% 6/15/37        200        224
  UnitedHealth Group Inc.  6.625% 11/15/37        325        368
  UnitedHealth Group Inc.  6.875% 2/15/38      1,355      1,589
  UnitedHealth Group Inc.  3.500% 8/15/39      1,510      1,238
  UnitedHealth Group Inc.  2.750% 5/15/40      2,245      1,636
  UnitedHealth Group Inc.  5.950% 2/15/41        240        255
  UnitedHealth Group Inc.  3.050% 5/15/41      1,400      1,055
  UnitedHealth Group Inc.  4.375% 3/15/42        325        292
  UnitedHealth Group Inc.  3.950% 10/15/42        800        677
  UnitedHealth Group Inc.  4.250% 3/15/43         75         66
  UnitedHealth Group Inc.  4.750% 7/15/45      1,315      1,243
  UnitedHealth Group Inc.  4.200% 1/15/47        775        665
  UnitedHealth Group Inc.  4.250% 4/15/47        950        819
  UnitedHealth Group Inc.  4.250% 6/15/48      1,200      1,046
  UnitedHealth Group Inc.  4.450% 12/15/48      1,100        981
  UnitedHealth Group Inc.  3.700% 8/15/49        680        538
  UnitedHealth Group Inc.  2.900% 5/15/50        520        354
  UnitedHealth Group Inc.  3.250% 5/15/51      1,900      1,369
  UnitedHealth Group Inc.  5.875% 2/15/53        875        950
  UnitedHealth Group Inc.  3.875% 8/15/59      2,250      1,768
  UnitedHealth Group Inc.  3.125% 5/15/60      2,640      1,790
  UnitedHealth Group Inc.  6.050% 2/15/63        875        964
  Universal Health Services Inc.  2.650% 10/15/30        700        557
7 UPMC  3.600% 4/3/25        400        386
  Utah Acquisition Sub Inc.  3.950% 6/15/26      1,100      1,028
  Utah Acquisition Sub Inc.  5.250% 6/15/46      2,250      1,705
  Viatris Inc.  1.650% 6/22/25        600        544
  Viatris Inc.  2.300% 6/22/27      1,350      1,154
  Viatris Inc.  3.850% 6/22/40        425        285
  Viatris Inc.  4.000% 6/22/50        925        573
7 WakeMed  3.286% 10/1/52        500        332
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Willis-Knighton Medical Center  4.813% 9/1/48        200        177
7 Willis-Knighton Medical Center  3.065% 3/1/51        500        316
  Wyeth LLC  7.250% 3/1/23        350        351
  Wyeth LLC  6.450% 2/1/24        780        792
  Wyeth LLC  6.500% 2/1/34        500        567
  Wyeth LLC  6.000% 2/15/36        410        438
  Wyeth LLC  5.950% 4/1/37      1,605      1,735
7 Yale-New Haven Health Services Corp.  2.496% 7/1/50        500        295
  Zeneca Wilmington Inc.  7.000% 11/15/23        600        607
  Zimmer Biomet Holdings Inc.  1.450% 11/22/24        700        651
  Zimmer Biomet Holdings Inc.  3.050% 1/15/26      1,000        943
  Zimmer Biomet Holdings Inc.  2.600% 11/24/31        700        566
  Zimmer Biomet Holdings Inc.  5.750% 11/30/39        200        193
  Zimmer Biomet Holdings Inc.  4.450% 8/15/45        280        222
  Zoetis Inc.  4.500% 11/13/25        350        348
  Zoetis Inc.  3.000% 9/12/27        800        740
  Zoetis Inc.  3.900% 8/20/28        400        380
  Zoetis Inc.  2.000% 5/15/30        575        467
  Zoetis Inc.  5.600% 11/16/32      1,000      1,038
  Zoetis Inc.  4.700% 2/1/43        900        814
  Zoetis Inc.  3.950% 9/12/47        400        323
  Zoetis Inc.  4.450% 8/20/48        325        283
  Zoetis Inc.  3.000% 5/15/50        250        169
                                                 537,956
Industrials (0.8%)
7 3M Co.  3.250% 2/14/24        400        393
  3M Co.  2.000% 2/14/25        600        568
  3M Co.  2.650% 4/15/25      1,069      1,021
7 3M Co.  2.250% 9/19/26        100         92
  3M Co.  2.875% 10/15/27      1,639      1,517
7 3M Co.  3.375% 3/1/29        650        598
  3M Co.  2.375% 8/26/29      1,555      1,320
  3M Co.  3.050% 4/15/30        600        528
7 3M Co.  3.125% 9/19/46      1,125        773
7 3M Co.  3.625% 10/15/47        450        336
7 3M Co.  4.000% 9/14/48        182        144
  3M Co.  3.250% 8/26/49        375        262
  3M Co.  3.700% 4/15/50      1,200        922
  Acuity Brands Lighting Inc.  2.150% 12/15/30        705        542
  Allegion plc  3.500% 10/1/29        325        280
  Allegion US Holding Co. Inc.  3.200% 10/1/24        128        123
  Allegion US Holding Co. Inc.  3.550% 10/1/27        350        318
7 American Airlines Pass-Through Trust Class A Series 2021-1  2.875% 7/11/34        750        599
7 American Airlines Pass-Through Trust Class AA Series 2015-2  3.600% 9/22/27        197        178
7 American Airlines Pass-Through Trust Class AA Series 2016-1  3.575% 1/15/28        321        287
7 American Airlines Pass-Through Trust Class AA Series 2016-2  3.200% 6/15/28        720        627
7 American Airlines Pass-Through Trust Class AA Series 2016-3  3.000% 10/15/28        163        141
7 American Airlines Pass-Through Trust Class AA Series 2017-1  3.650% 2/15/29        367        327
7 American Airlines Pass-Through Trust Class AA Series 2017-2  3.350% 10/15/29        303        262
7 American Airlines Pass-Through Trust Class AA Series 2019-1  3.150% 2/15/32        190        159
  Amphenol Corp.  3.200% 4/1/24        200        195
  Amphenol Corp.  2.050% 3/1/25        170        160
  Amphenol Corp.  4.350% 6/1/29        300        286
  Amphenol Corp.  2.800% 2/15/30        750        641
  Amphenol Corp.  2.200% 9/15/31        400        317
7 BNSF Funding Trust I  6.613% 12/15/55        325        307
  Boeing Co.  2.800% 3/1/23        345        343
  Boeing Co.  4.508% 5/1/23      2,625      2,616
  Boeing Co.  1.875% 6/15/23        500        492
 
81

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Boeing Co.  1.950% 2/1/24        500        481
  Boeing Co.  1.433% 2/4/24      2,225      2,128
  Boeing Co.  2.800% 3/1/24        450        436
  Boeing Co.  2.850% 10/30/24        450        431
  Boeing Co.  4.875% 5/1/25      3,980      3,948
  Boeing Co.  2.750% 2/1/26        500        464
  Boeing Co.  2.196% 2/4/26      5,000      4,545
  Boeing Co.  3.100% 5/1/26        400        376
  Boeing Co.  2.250% 6/15/26        325        293
  Boeing Co.  2.700% 2/1/27      1,715      1,549
  Boeing Co.  2.800% 3/1/27      1,846      1,666
  Boeing Co.  5.040% 5/1/27      1,760      1,742
  Boeing Co.  3.250% 2/1/28      1,350      1,233
  Boeing Co.  3.250% 3/1/28        275        246
  Boeing Co.  3.450% 11/1/28      1,000        897
  Boeing Co.  3.200% 3/1/29        900        792
  Boeing Co.  2.950% 2/1/30        500        423
  Boeing Co.  5.150% 5/1/30      1,165      1,136
  Boeing Co.  3.625% 2/1/31      2,350      2,057
  Boeing Co.  6.125% 2/15/33        325        330
  Boeing Co.  3.600% 5/1/34      1,375      1,097
  Boeing Co.  3.250% 2/1/35        600        456
  Boeing Co.  6.625% 2/15/38        100        103
  Boeing Co.  3.500% 3/1/39        200        145
  Boeing Co.  6.875% 3/15/39        285        300
  Boeing Co.  5.875% 2/15/40        545        524
  Boeing Co.  5.705% 5/1/40      3,965      3,775
  Boeing Co.  3.375% 6/15/46        450        292
  Boeing Co.  3.650% 3/1/47        475        316
  Boeing Co.  3.850% 11/1/48        200        138
  Boeing Co.  3.900% 5/1/49        650        458
  Boeing Co.  3.750% 2/1/50      1,100        758
  Boeing Co.  5.805% 5/1/50      3,836      3,569
  Boeing Co.  3.825% 3/1/59        225        145
  Boeing Co.  3.950% 8/1/59        360        242
  Boeing Co.  5.930% 5/1/60      3,415      3,136
  Burlington Northern Santa Fe LLC  3.750% 4/1/24        400        394
  Burlington Northern Santa Fe LLC  3.400% 9/1/24        400        391
  Burlington Northern Santa Fe LLC  3.000% 4/1/25        250        240
  Burlington Northern Santa Fe LLC  3.650% 9/1/25        275        267
  Burlington Northern Santa Fe LLC  7.000% 12/15/25        700        747
  Burlington Northern Santa Fe LLC  3.250% 6/15/27        875        828
  Burlington Northern Santa Fe LLC  6.200% 8/15/36        125        136
  Burlington Northern Santa Fe LLC  6.150% 5/1/37        775        844
  Burlington Northern Santa Fe LLC  5.750% 5/1/40        625        654
  Burlington Northern Santa Fe LLC  5.050% 3/1/41        675        659
  Burlington Northern Santa Fe LLC  5.400% 6/1/41      1,225      1,234
  Burlington Northern Santa Fe LLC  4.950% 9/15/41        200        192
  Burlington Northern Santa Fe LLC  4.400% 3/15/42        575        518
  Burlington Northern Santa Fe LLC  4.375% 9/1/42        500        444
  Burlington Northern Santa Fe LLC  4.450% 3/15/43        850        760
  Burlington Northern Santa Fe LLC  5.150% 9/1/43        500        490
  Burlington Northern Santa Fe LLC  4.900% 4/1/44      1,100      1,041
  Burlington Northern Santa Fe LLC  4.550% 9/1/44      1,600      1,452
  Burlington Northern Santa Fe LLC  4.150% 4/1/45        500        427
  Burlington Northern Santa Fe LLC  4.700% 9/1/45        600        552
  Burlington Northern Santa Fe LLC  3.900% 8/1/46        550        449
  Burlington Northern Santa Fe LLC  4.125% 6/15/47        225        191
  Burlington Northern Santa Fe LLC  4.050% 6/15/48      1,875      1,569
  Burlington Northern Santa Fe LLC  4.150% 12/15/48        575        490
  Burlington Northern Santa Fe LLC  3.050% 2/15/51        745        518
  Burlington Northern Santa Fe LLC  3.300% 9/15/51        800        586
  Burlington Northern Santa Fe LLC  2.875% 6/15/52        575        385
  Canadian National Railway Co.  2.950% 11/21/24        288        277
  Canadian National Railway Co.  2.750% 3/1/26        375        353
  Canadian National Railway Co.  3.850% 8/5/32        500        465
  Canadian National Railway Co.  6.250% 8/1/34        350        383
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Canadian National Railway Co.  6.200% 6/1/36        350        379
  Canadian National Railway Co.  6.375% 11/15/37        350        383
  Canadian National Railway Co.  3.200% 8/2/46        650        478
  Canadian National Railway Co.  2.450% 5/1/50      1,700      1,068
  Canadian National Railway Co.  4.400% 8/5/52        500        447
  Canadian Pacific Railway Co.  1.350% 12/2/24      1,000        933
  Canadian Pacific Railway Co.  2.900% 2/1/25        100         96
  Canadian Pacific Railway Co.  1.750% 12/2/26      1,000        891
  Canadian Pacific Railway Co.  2.050% 3/5/30        400        328
  Canadian Pacific Railway Co.  7.125% 10/15/31        275        305
  Canadian Pacific Railway Co.  2.450% 12/2/31        930        774
  Canadian Pacific Railway Co.  5.950% 5/15/37        775        802
  Canadian Pacific Railway Co.  3.000% 12/2/41      2,000      1,503
  Canadian Pacific Railway Co.  4.800% 8/1/45        675        614
  Canadian Pacific Railway Co.  3.100% 12/2/51      2,500      1,704
  Canadian Pacific Railway Co.  6.125% 9/15/15        830        835
  Carrier Global Corp.  2.242% 2/15/25      1,600      1,509
  Carrier Global Corp.  2.493% 2/15/27      1,475      1,330
  Carrier Global Corp.  2.722% 2/15/30      2,625      2,212
  Carrier Global Corp.  2.700% 2/15/31        390        322
  Carrier Global Corp.  3.377% 4/5/40      1,950      1,477
  Carrier Global Corp.  3.577% 4/5/50      1,900      1,361
7 Caterpillar Financial Services Corp.  0.950% 1/10/24        925        889
7 Caterpillar Financial Services Corp.  2.850% 5/17/24        325        316
7 Caterpillar Financial Services Corp.  3.300% 6/9/24        730        713
7 Caterpillar Financial Services Corp.  0.600% 9/13/24        500        466
7 Caterpillar Financial Services Corp.  3.250% 12/1/24      1,572      1,527
7 Caterpillar Financial Services Corp.  4.900% 1/17/25        525        526
7 Caterpillar Financial Services Corp.  1.450% 5/15/25        375        348
7 Caterpillar Financial Services Corp.  3.650% 8/12/25        575        561
7 Caterpillar Financial Services Corp.  0.800% 11/13/25        825        741
  Caterpillar Financial Services Corp.  2.400% 8/9/26        200        185
7 Caterpillar Financial Services Corp.  1.150% 9/14/26        500        441
7 Caterpillar Financial Services Corp.  1.700% 1/8/27        500        451
7 Caterpillar Financial Services Corp.  3.600% 8/12/27        575        549
7 Caterpillar Financial Services Corp.  1.100% 9/14/27      1,500      1,282
  Caterpillar Inc.  3.400% 5/15/24        450        441
  Caterpillar Inc.  2.600% 4/9/30      3,135      2,735
  Caterpillar Inc.  6.050% 8/15/36        720        783
  Caterpillar Inc.  5.200% 5/27/41        475        483
  Caterpillar Inc.  3.803% 8/15/42      1,504      1,280
  Caterpillar Inc.  4.300% 5/15/44        375        342
  Caterpillar Inc.  3.250% 9/19/49        871        661
  Caterpillar Inc.  3.250% 4/9/50        700        535
  CH Robinson Worldwide Inc.  4.200% 4/15/28        125        118
  CNH Industrial Capital LLC  4.200% 1/15/24      2,455      2,421
  CNH Industrial Capital LLC  5.450% 10/14/25        500        503
  CNH Industrial Capital LLC  1.875% 1/15/26        260        237
  CNH Industrial Capital LLC  1.450% 7/15/26        400        354
7 CNH Industrial NV  3.850% 11/15/27        375        353
7 Continental Airlines Pass-Through Trust Class A Series 2012-2  4.000% 10/29/24        359        342
  Crane Holdings Co.  4.200% 3/15/48        525        373
  CSX Corp.  3.400% 8/1/24        400        391
  CSX Corp.  3.350% 11/1/25        400        384
 
82

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  CSX Corp.  2.600% 11/1/26        200        185
  CSX Corp.  3.250% 6/1/27        650        609
  CSX Corp.  3.800% 3/1/28      1,275      1,216
  CSX Corp.  4.250% 3/15/29        900        864
  CSX Corp.  2.400% 2/15/30      2,525      2,134
  CSX Corp.  4.100% 11/15/32        348        326
  CSX Corp.  6.150% 5/1/37      1,000      1,067
  CSX Corp.  6.220% 4/30/40        599        648
  CSX Corp.  5.500% 4/15/41        725        728
  CSX Corp.  4.750% 5/30/42        460        420
  CSX Corp.  4.400% 3/1/43         93         80
  CSX Corp.  4.100% 3/15/44        800        670
  CSX Corp.  3.800% 11/1/46        400        315
  CSX Corp.  4.300% 3/1/48      1,000        853
  CSX Corp.  4.500% 3/15/49        900        787
  CSX Corp.  3.800% 4/15/50        605        470
  CSX Corp.  2.500% 5/15/51        500        304
  CSX Corp.  4.250% 11/1/66        500        394
  CSX Corp.  4.650% 3/1/68        275        233
  Cummins Inc.  0.750% 9/1/25        821        740
  Cummins Inc.  1.500% 9/1/30        500        394
  Cummins Inc.  4.875% 10/1/43        525        495
  Cummins Inc.  2.600% 9/1/50        600        374
  Deere & Co.  2.750% 4/15/25        750        721
  Deere & Co.  5.375% 10/16/29        455        471
  Deere & Co.  3.100% 4/15/30        770        690
  Deere & Co.  7.125% 3/3/31        400        458
  Deere & Co.  3.900% 6/9/42      1,000        886
  Deere & Co.  2.875% 9/7/49        200        143
  Deere & Co.  3.750% 4/15/50        650        551
10 Delta Air Lines Inc.  4.750% 10/20/28        500        471
7 Delta Air Lines Pass-Through Trust Class AA Series 2019-1  3.204% 4/25/24        430        416
7 Delta Air Lines Pass-Through Trust Class AA Series 2020-1  2.000% 6/10/28        340        290
  Dover Corp.  2.950% 11/4/29        575        500
  Dover Corp.  5.375% 3/1/41        280        269
  Eaton Corp.  3.103% 9/15/27        665        619
  Eaton Corp.  4.000% 11/2/32        717        661
  Eaton Corp.  4.150% 3/15/33      1,095      1,020
  Eaton Corp.  4.150% 11/2/42         75         64
  Eaton Corp.  3.915% 9/15/47        550        446
  Eaton Corp.  4.700% 8/23/52        657        599
  Emerson Electric Co.  3.150% 6/1/25        450        435
  Emerson Electric Co.  0.875% 10/15/26      2,000      1,733
  Emerson Electric Co.  1.800% 10/15/27        750        655
  Emerson Electric Co.  2.000% 12/21/28      1,000        851
  Emerson Electric Co.  1.950% 10/15/30        375        304
  Emerson Electric Co.  2.200% 12/21/31        900        728
  Emerson Electric Co.  5.250% 11/15/39        135        132
  Emerson Electric Co.  2.750% 10/15/50        450        292
  Emerson Electric Co.  2.800% 12/21/51        900        582
  FedEx Corp.  3.250% 4/1/26        500        476
  FedEx Corp.  3.400% 2/15/28      1,000        925
  FedEx Corp.  3.100% 8/5/29        825        725
  FedEx Corp.  4.250% 5/15/30      1,600      1,508
  FedEx Corp.  2.400% 5/15/31        450        363
  FedEx Corp.  3.900% 2/1/35        200        170
  FedEx Corp.  3.250% 5/15/41        450        323
  FedEx Corp.  3.875% 8/1/42        200        152
  FedEx Corp.  4.100% 4/15/43        300        234
  FedEx Corp.  5.100% 1/15/44        600        534
  FedEx Corp.  4.100% 2/1/45        300        232
  FedEx Corp.  4.750% 11/15/45      1,075        911
  FedEx Corp.  4.550% 4/1/46      2,050      1,669
  FedEx Corp.  4.400% 1/15/47        800        636
  FedEx Corp.  4.050% 2/15/48        700        532
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  FedEx Corp.  4.950% 10/17/48        750        656
  FedEx Corp.  5.250% 5/15/50      1,150      1,057
  FedEx Corp.  4.500% 2/1/65        150        110
7 FedEx Corp. Pass-Through Trust Class AA Series 2020-1  1.875% 2/20/34        736        598
  Flowserve Corp.  3.500% 10/1/30        500        416
  Fortive Corp.  3.150% 6/15/26        585        547
  Fortive Corp.  4.300% 6/15/46        425        330
  General Dynamics Corp.  3.250% 4/1/25        525        509
  General Dynamics Corp.  3.500% 5/15/25      1,500      1,461
  General Dynamics Corp.  2.125% 8/15/26        250        229
  General Dynamics Corp.  3.500% 4/1/27        350        335
  General Dynamics Corp.  2.625% 11/15/27        500        455
  General Dynamics Corp.  3.750% 5/15/28        705        672
  General Dynamics Corp.  3.625% 4/1/30        755        703
  General Dynamics Corp.  2.250% 6/1/31        500        418
  General Dynamics Corp.  4.250% 4/1/40        570        520
  General Dynamics Corp.  3.600% 11/15/42        625        511
7 General Electric Co.  5.875% 1/14/38      2,512      2,559
  Honeywell International Inc.  2.300% 8/15/24        800        769
  Honeywell International Inc.  4.850% 11/1/24        500        502
  Honeywell International Inc.  1.350% 6/1/25      3,730      3,451
  Honeywell International Inc.  2.500% 11/1/26      1,150      1,062
  Honeywell International Inc.  1.100% 3/1/27      1,150      1,002
  Honeywell International Inc.  4.950% 2/15/28        500        508
  Honeywell International Inc.  2.700% 8/15/29        350        311
  Honeywell International Inc.  1.950% 6/1/30      1,125        931
  Honeywell International Inc.  1.750% 9/1/31      1,150        911
  Honeywell International Inc.  5.000% 2/15/33      1,500      1,529
  Honeywell International Inc.  5.700% 3/15/36        300        318
  Honeywell International Inc.  5.700% 3/15/37        305        322
  Honeywell International Inc.  5.375% 3/1/41        855        881
  Huntington Ingalls Industries Inc.  3.844% 5/1/25        146        141
  Huntington Ingalls Industries Inc.  3.483% 12/1/27        500        454
  Huntington Ingalls Industries Inc.  2.043% 8/16/28      2,500      2,061
  Huntington Ingalls Industries Inc.  4.200% 5/1/30        800        725
  IDEX Corp.  3.000% 5/1/30        300        258
  Illinois Tool Works Inc.  3.500% 3/1/24      1,145      1,127
  Illinois Tool Works Inc.  2.650% 11/15/26      1,100      1,022
  Illinois Tool Works Inc.  3.900% 9/1/42        800        682
  JB Hunt Transport Services Inc.  3.875% 3/1/26        650        629
7 JetBlue Pass-Through Trust Class A Series 2020-1  4.000% 11/15/32        608        539
7 JetBlue Pass-Through Trust Class AA Series 2019-1  2.750% 5/15/32        433        355
7 John Deere Capital Corp.  0.900% 1/10/24        700        673
7 John Deere Capital Corp.  0.450% 1/17/24      1,000        957
7 John Deere Capital Corp.  2.600% 3/7/24        400        390
7 John Deere Capital Corp.  3.350% 6/12/24        700        686
7 John Deere Capital Corp.  0.625% 9/10/24        925        863
7 John Deere Capital Corp.  2.050% 1/9/25        575        546
7 John Deere Capital Corp.  1.250% 1/10/25      1,000        937
7 John Deere Capital Corp.  3.450% 3/13/25      1,225      1,193
7 John Deere Capital Corp.  3.400% 6/6/25        500        486
7 John Deere Capital Corp.  4.050% 9/8/25        500        493
7 John Deere Capital Corp.  3.400% 9/11/25        325        315
7 John Deere Capital Corp.  0.700% 1/15/26        500        445
7 John Deere Capital Corp.  2.650% 6/10/26        300        281
7 John Deere Capital Corp.  1.050% 6/17/26        500        444
7 John Deere Capital Corp.  2.250% 9/14/26      1,647      1,520
7 John Deere Capital Corp.  1.700% 1/11/27      2,000      1,785
7 John Deere Capital Corp.  2.350% 3/8/27        500        456
7 John Deere Capital Corp.  2.800% 9/8/27        250        230
7 John Deere Capital Corp.  4.150% 9/15/27        875        859
7 John Deere Capital Corp.  3.050% 1/6/28        600        561
7 John Deere Capital Corp.  1.500% 3/6/28        500        428
7 John Deere Capital Corp.  3.450% 3/7/29        623        578
 
83

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 John Deere Capital Corp.  2.800% 7/18/29        490        436
7 John Deere Capital Corp.  2.450% 1/9/30      1,000        862
  John Deere Capital Corp.  1.450% 1/15/31        500        390
7 John Deere Capital Corp.  4.350% 9/15/32        500        485
7 Johnson Controls International plc  3.625% 7/2/24        442        433
7 Johnson Controls International plc  3.900% 2/14/26        219        213
  Johnson Controls International plc  1.750% 9/15/30        500        398
  Johnson Controls International plc  2.000% 9/16/31        500        395
7 Johnson Controls International plc  6.000% 1/15/36        210        218
7 Johnson Controls International plc  4.625% 7/2/44        800        691
7 Johnson Controls International plc  5.125% 9/14/45         80         73
  Johnson Controls International plc  4.500% 2/15/47        400        331
7 Johnson Controls International plc  4.950% 7/2/64        286        239
  Kansas City Southern  2.875% 11/15/29        550        475
7 Kansas City Southern  4.300% 5/15/43        500        416
7 Kansas City Southern  4.950% 8/15/45        500        452
  Kansas City Southern  3.500% 5/1/50      1,600      1,142
  Kennametal Inc.  4.625% 6/15/28      1,000        939
  Keysight Technologies Inc.  4.550% 10/30/24        734        724
  Keysight Technologies Inc.  4.600% 4/6/27        375        367
  Keysight Technologies Inc.  3.000% 10/30/29        425        369
  Kirby Corp.  4.200% 3/1/28      1,200      1,094
  L3Harris Technologies Inc.  3.950% 5/28/24        270        265
  L3Harris Technologies Inc.  3.832% 4/27/25        550        535
  L3Harris Technologies Inc.  3.850% 12/15/26        831        794
7 L3Harris Technologies Inc.  4.400% 6/15/28        600        579
  L3Harris Technologies Inc.  2.900% 12/15/29        750        641
  L3Harris Technologies Inc.  1.800% 1/15/31        600        461
  L3Harris Technologies Inc.  4.854% 4/27/35        100         93
  L3Harris Technologies Inc.  5.054% 4/27/45        475        426
  Lennox International Inc.  3.000% 11/15/23        100         98
  Lennox International Inc.  1.350% 8/1/25        500        451
  Lennox International Inc.  1.700% 8/1/27        500        430
  Lockheed Martin Corp.  4.950% 10/15/25        432        435
  Lockheed Martin Corp.  3.550% 1/15/26        600        583
  Lockheed Martin Corp.  5.100% 11/15/27      1,799      1,843
  Lockheed Martin Corp.  3.900% 6/15/32        175        164
  Lockheed Martin Corp.  5.250% 1/15/33      1,625      1,680
  Lockheed Martin Corp.  3.600% 3/1/35        485        430
  Lockheed Martin Corp.  4.500% 5/15/36        565        538
7 Lockheed Martin Corp.  6.150% 9/1/36      1,915      2,077
  Lockheed Martin Corp.  5.720% 6/1/40        316        333
  Lockheed Martin Corp.  4.070% 12/15/42      1,775      1,533
  Lockheed Martin Corp.  3.800% 3/1/45        750        615
  Lockheed Martin Corp.  4.700% 5/15/46      1,050        978
  Lockheed Martin Corp.  2.800% 6/15/50        700        474
  Lockheed Martin Corp.  4.090% 9/15/52        622        527
  Lockheed Martin Corp.  5.700% 11/15/54      1,625      1,723
  Lockheed Martin Corp.  4.300% 6/15/62        300        252
  Lockheed Martin Corp.  5.900% 11/15/63      1,485      1,604
10 Mileage Plus Holdings LLC  6.500% 6/20/27      1,800      1,794
  Norfolk Southern Corp.  3.850% 1/15/24        200        198
  Norfolk Southern Corp.  3.650% 8/1/25        415        402
  Norfolk Southern Corp.  7.800% 5/15/27        100        110
  Norfolk Southern Corp.  3.150% 6/1/27        125        116
  Norfolk Southern Corp.  3.800% 8/1/28        750        715
  Norfolk Southern Corp.  2.550% 11/1/29      1,200      1,028
  Norfolk Southern Corp.  3.000% 3/15/32        550        471
  Norfolk Southern Corp.  4.837% 10/1/41        565        520
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Norfolk Southern Corp.  3.950% 10/1/42        425        350
  Norfolk Southern Corp.  4.450% 6/15/45        975        835
  Norfolk Southern Corp.  4.650% 1/15/46        300        266
  Norfolk Southern Corp.  3.942% 11/1/47        850        685
  Norfolk Southern Corp.  4.150% 2/28/48         50         42
  Norfolk Southern Corp.  4.100% 5/15/49        615        499
  Norfolk Southern Corp.  3.400% 11/1/49        330        237
  Norfolk Southern Corp.  3.050% 5/15/50      1,600      1,074
  Norfolk Southern Corp.  4.050% 8/15/52        973        783
  Norfolk Southern Corp.  4.550% 6/1/53        500        437
  Norfolk Southern Corp.  3.155% 5/15/55        756        503
  Norfolk Southern Corp.  4.100% 5/15/21        500        348
  Northrop Grumman Corp.  2.930% 1/15/25      1,300      1,248
  Northrop Grumman Corp.  3.200% 2/1/27        675        634
  Northrop Grumman Corp.  3.250% 1/15/28      3,400      3,144
  Northrop Grumman Corp.  4.400% 5/1/30      1,540      1,482
  Northrop Grumman Corp.  5.050% 11/15/40        850        813
  Northrop Grumman Corp.  4.750% 6/1/43      1,550      1,433
  Northrop Grumman Corp.  4.030% 10/15/47      2,950      2,445
  Northrop Grumman Corp.  5.250% 5/1/50        795        786
  nVent Finance Sarl  4.550% 4/15/28        300        277
  Oshkosh Corp.  4.600% 5/15/28        400        380
  Oshkosh Corp.  3.100% 3/1/30         80         68
  Otis Worldwide Corp.  2.056% 4/5/25      1,575      1,475
  Otis Worldwide Corp.  2.293% 4/5/27      1,350      1,212
  Otis Worldwide Corp.  2.565% 2/15/30      1,400      1,177
  Otis Worldwide Corp.  3.112% 2/15/40      2,000      1,474
  Otis Worldwide Corp.  3.362% 2/15/50        550        386
7 PACCAR Financial Corp.  0.350% 2/2/24        500        476
7 PACCAR Financial Corp.  3.150% 6/13/24        500        488
7 PACCAR Financial Corp.  2.150% 8/15/24        250        238
7 PACCAR Financial Corp.  0.900% 11/8/24        500        467
7 PACCAR Financial Corp.  1.800% 2/6/25        750        705
  Parker-Hannifin Corp.  2.700% 6/14/24        475        458
  Parker-Hannifin Corp.  3.650% 6/15/24      1,075      1,052
7 Parker-Hannifin Corp.  3.300% 11/21/24        467        452
  Parker-Hannifin Corp.  3.250% 3/1/27      1,879      1,757
  Parker-Hannifin Corp.  4.250% 9/15/27      1,043      1,013
  Parker-Hannifin Corp.  3.250% 6/14/29      1,000        894
7 Parker-Hannifin Corp.  4.200% 11/21/34        200        180
7 Parker-Hannifin Corp.  6.250% 5/15/38        575        595
  Parker-Hannifin Corp.  4.100% 3/1/47        500        399
  Parker-Hannifin Corp.  4.000% 6/14/49        950        750
  Pentair Finance Sarl  5.900% 7/15/32        500        495
  Precision Castparts Corp.  3.250% 6/15/25        675        653
  Precision Castparts Corp.  3.900% 1/15/43        375        313
  Precision Castparts Corp.  4.375% 6/15/45        275        241
  Raytheon Technologies Corp.  3.200% 3/15/24        775        758
  Raytheon Technologies Corp.  3.950% 8/16/25      1,680      1,642
  Raytheon Technologies Corp.  3.500% 3/15/27      2,885      2,749
  Raytheon Technologies Corp.  3.125% 5/4/27        975        909
  Raytheon Technologies Corp.  7.200% 8/15/27         75         82
  Raytheon Technologies Corp.  4.125% 11/16/28      3,445      3,301
  Raytheon Technologies Corp.  2.250% 7/1/30        500        416
  Raytheon Technologies Corp.  1.900% 9/1/31        925        725
  Raytheon Technologies Corp.  2.375% 3/15/32        200        162
  Raytheon Technologies Corp.  5.400% 5/1/35        500        500
  Raytheon Technologies Corp.  6.050% 6/1/36        585        618
  Raytheon Technologies Corp.  6.125% 7/15/38        463        494
  Raytheon Technologies Corp.  4.450% 11/16/38      1,000        909
  Raytheon Technologies Corp.  4.875% 10/15/40        225        210
  Raytheon Technologies Corp.  4.700% 12/15/41        925        844
  Raytheon Technologies Corp.  4.500% 6/1/42      3,150      2,835
  Raytheon Technologies Corp.  4.800% 12/15/43        285        260
  Raytheon Technologies Corp.  4.150% 5/15/45      1,025        855
  Raytheon Technologies Corp.  3.750% 11/1/46        900        701
  Raytheon Technologies Corp.  4.350% 4/15/47      1,325      1,137
 
84

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Raytheon Technologies Corp.  4.050% 5/4/47      1,500      1,230
  Raytheon Technologies Corp.  4.625% 11/16/48      1,500      1,358
  Raytheon Technologies Corp.  3.125% 7/1/50        863        608
  Raytheon Technologies Corp.  2.820% 9/1/51        925        603
  Raytheon Technologies Corp.  3.030% 3/15/52        950        649
  Republic Services Inc.  2.500% 8/15/24         60         58
  Republic Services Inc.  3.200% 3/15/25        500        479
  Republic Services Inc.  0.875% 11/15/25        500        446
  Republic Services Inc.  2.900% 7/1/26      2,322      2,167
  Republic Services Inc.  2.300% 3/1/30        725        607
  Republic Services Inc.  1.450% 2/15/31        500        384
  Republic Services Inc.  1.750% 2/15/32        625        480
  Republic Services Inc.  6.200% 3/1/40        475        503
  Republic Services Inc.  5.700% 5/15/41        300        305
  Republic Services Inc.  3.050% 3/1/50        650        450
  Rockwell Automation Inc.  3.500% 3/1/29        350        326
  Rockwell Automation Inc.  1.750% 8/15/31        500        394
  Rockwell Automation Inc.  4.200% 3/1/49        575        494
  Rockwell Automation Inc.  2.800% 8/15/61        500        300
7 Ryder System Inc.  3.650% 3/18/24        550        539
7 Ryder System Inc.  2.500% 9/1/24        250        238
7 Ryder System Inc.  4.625% 6/1/25        581        569
7 Ryder System Inc.  1.750% 9/1/26        500        441
7 Ryder System Inc.  2.900% 12/1/26        325        296
7 Ryder System Inc.  2.850% 3/1/27        200        181
  Southwest Airlines Co.  5.250% 5/4/25      3,500      3,512
  Southwest Airlines Co.  3.000% 11/15/26        400        368
  Southwest Airlines Co.  5.125% 6/15/27      1,925      1,903
  Southwest Airlines Co.  3.450% 11/16/27        540        496
  Southwest Airlines Co.  2.625% 2/10/30        400        331
7 Spirit Airlines Pass-Through Trust Class A Series 2015-1  4.100% 4/1/28        199        173
  Teledyne Technologies Inc.  0.650% 4/1/23        500        494
  Teledyne Technologies Inc.  0.950% 4/1/24        500        474
  Teledyne Technologies Inc.  2.250% 4/1/28        500        432
  Teledyne Technologies Inc.  2.750% 4/1/31        900        737
  Textron Inc.  4.300% 3/1/24        625        617
  Textron Inc.  3.875% 3/1/25        225        219
  Textron Inc.  4.000% 3/15/26        300        289
  Textron Inc.  3.650% 3/15/27      2,044      1,907
  Textron Inc.  3.375% 3/1/28        325        295
  Textron Inc.  3.900% 9/17/29        250        226
  Timken Co.  3.875% 9/1/24        200        195
  Timken Co.  4.500% 12/15/28        400        380
  Trane Technologies Global Holding Co. Ltd.  3.750% 8/21/28      1,200      1,135
  Trane Technologies Luxembourg Finance SA  3.550% 11/1/24      1,350      1,314
  Trane Technologies Luxembourg Finance SA  3.500% 3/21/26        325        306
  Trane Technologies Luxembourg Finance SA  3.800% 3/21/29        975        899
  Trane Technologies Luxembourg Finance SA  4.650% 11/1/44        150        126
  Trane Technologies Luxembourg Finance SA  4.500% 3/21/49        350        286
  Trimble Inc.  4.750% 12/1/24        600        594
  Trimble Inc.  4.900% 6/15/28        400        384
  Triton Container International Ltd.  3.250% 3/15/32        500        386
  Tyco Electronics Group SA  3.450% 8/1/24      1,000        976
  Tyco Electronics Group SA  3.125% 8/15/27        450        415
  Tyco Electronics Group SA  2.500% 2/4/32        500        412
  Tyco Electronics Group SA  7.125% 10/1/37        550        628
  Union Pacific Corp.  3.646% 2/15/24        325        320
  Union Pacific Corp.  3.150% 3/1/24        400        392
  Union Pacific Corp.  3.250% 1/15/25        400        388
  Union Pacific Corp.  3.750% 7/15/25        930        905
  Union Pacific Corp.  3.250% 8/15/25        900        866
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Union Pacific Corp.  2.750% 3/1/26        648        613
  Union Pacific Corp.  2.150% 2/5/27        707        639
  Union Pacific Corp.  3.000% 4/15/27        240        224
  Union Pacific Corp.  2.400% 2/5/30      1,475      1,262
  Union Pacific Corp.  2.375% 5/20/31        500        420
  Union Pacific Corp.  2.800% 2/14/32        500        430
  Union Pacific Corp.  3.375% 2/1/35        900        764
  Union Pacific Corp.  2.891% 4/6/36      1,800      1,427
  Union Pacific Corp.  3.600% 9/15/37        708        600
  Union Pacific Corp.  3.200% 5/20/41      1,500      1,177
  Union Pacific Corp.  4.050% 3/1/46        500        413
  Union Pacific Corp.  3.350% 8/15/46        550        400
  Union Pacific Corp.  3.250% 2/5/50        850        622
  Union Pacific Corp.  3.799% 10/1/51      1,082        867
  Union Pacific Corp.  2.950% 3/10/52        500        339
  Union Pacific Corp.  4.950% 9/9/52        521        504
  Union Pacific Corp.  3.500% 2/14/53        500        378
  Union Pacific Corp.  3.950% 8/15/59        425        334
  Union Pacific Corp.  3.839% 3/20/60      1,106        859
  Union Pacific Corp.  2.973% 9/16/62      2,025      1,296
  Union Pacific Corp.  4.100% 9/15/67        350        276
  Union Pacific Corp.  3.750% 2/5/70      1,400      1,020
  Union Pacific Corp.  3.799% 4/6/71      1,700      1,255
  Union Pacific Corp.  3.850% 2/14/72        500        372
7 United Airlines Pass-Through Trust Class A Series 2012-1  4.150% 4/11/24        479        462
7 United Airlines Pass-Through Trust Class A Series 2013-1  4.300% 8/15/25        422        389
7 United Airlines Pass-Through Trust Class A Series 2014-1  4.000% 4/11/26        441        403
7 United Airlines Pass-Through Trust Class A Series 2016-1  3.450% 7/7/28        294        246
7 United Airlines Pass-Through Trust Class A Series 2020-1  5.875% 10/15/27      2,415      2,378
7 United Airlines Pass-Through Trust Class AA Series 2015-1  3.450% 12/1/27        189        168
7 United Airlines Pass-Through Trust Class AA Series 2016-1  3.100% 7/7/28        405        358
7 United Airlines Pass-Through Trust Class AA Series 2019-1  4.150% 8/25/31        387        341
7 United Airlines Pass-Through Trust Class AA Series 2019-2  2.700% 5/1/32        420        338
7 United Airlines Pass-Through Trust Class B Series 2020-1  4.875% 1/15/26        991        933
  United Parcel Service Inc.  2.800% 11/15/24        950        916
  United Parcel Service Inc.  3.900% 4/1/25      1,200      1,182
  United Parcel Service Inc.  2.400% 11/15/26        609        566
  United Parcel Service Inc.  2.500% 9/1/29        400        348
  United Parcel Service Inc.  4.450% 4/1/30      1,000        984
  United Parcel Service Inc.  6.200% 1/15/38        505        559
  United Parcel Service Inc.  5.200% 4/1/40        465        465
  United Parcel Service Inc.  4.875% 11/15/40        350        339
  United Parcel Service Inc.  3.625% 10/1/42        300        250
  United Parcel Service Inc.  3.400% 11/15/46        390        300
  United Parcel Service Inc.  4.250% 3/15/49        800        711
  United Parcel Service Inc.  3.400% 9/1/49        200        154
  United Parcel Service Inc.  5.300% 4/1/50      2,870      2,992
  Valmont Industries Inc.  5.000% 10/1/44        475        409
  Valmont Industries Inc.  5.250% 10/1/54        300        257
  Vontier Corp.  1.800% 4/1/26        500        423
  Vontier Corp.  2.400% 4/1/28        500        395
  Vontier Corp.  2.950% 4/1/31        500        364
  Waste Connections Inc.  4.250% 12/1/28      2,091      2,000
  Waste Connections Inc.  3.500% 5/1/29        950        870
  Waste Connections Inc.  2.600% 2/1/30        500        426
  Waste Connections Inc.  2.200% 1/15/32        700        557
  Waste Connections Inc.  3.050% 4/1/50        300        205
  Waste Connections Inc.  2.950% 1/15/52        700        466
 
85

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Waste Management Inc.  0.750% 11/15/25        500        448
  Waste Management Inc.  3.150% 11/15/27      1,600      1,493
  Waste Management Inc.  1.150% 3/15/28        500        417
  Waste Management Inc.  1.500% 3/15/31      1,400      1,093
  Waste Management Inc.  2.950% 6/1/41        500        369
  Waste Management Inc.  2.500% 11/15/50        500        313
  Westinghouse Air Brake Technologies Corp.  4.400% 3/15/24      1,100      1,082
  Westinghouse Air Brake Technologies Corp.  3.200% 6/15/25      1,070      1,006
  Westinghouse Air Brake Technologies Corp.  3.450% 11/15/26        725        676
  Westinghouse Air Brake Technologies Corp.  4.950% 9/15/28        750        721
  WW Grainger Inc.  1.850% 2/15/25        475        446
  WW Grainger Inc.  4.600% 6/15/45        425        386
  WW Grainger Inc.  3.750% 5/15/46        325        255
  WW Grainger Inc.  4.200% 5/15/47        350        294
  Xylem Inc.  3.250% 11/1/26        300        281
  Xylem Inc.  1.950% 1/30/28        250        215
  Xylem Inc.  2.250% 1/30/31        400        325
  Xylem Inc.  4.375% 11/1/46        475        392
                                                 384,130
Materials (0.3%)
  Air Products and Chemicals Inc.  3.350% 7/31/24      1,200      1,172
  Air Products and Chemicals Inc.  1.850% 5/15/27        150        134
  Air Products and Chemicals Inc.  2.050% 5/15/30        700        586
  Air Products and Chemicals Inc.  2.700% 5/15/40        600        449
  Air Products and Chemicals Inc.  2.800% 5/15/50      1,000        695
  Albemarle Corp.  4.650% 6/1/27        500        489
  Albemarle Corp.  5.050% 6/1/32        500        471
  Albemarle Corp.  5.450% 12/1/44        325        301
  Albemarle Corp.  5.650% 6/1/52        500        456
  Amcor Finance USA Inc.  4.500% 5/15/28        500        473
  Amcor Flexibles North America Inc.  4.000% 5/17/25        432        420
7 Amcor Flexibles North America Inc.  3.100% 9/15/26        300        279
  Amcor Flexibles North America Inc.  2.630% 6/19/30        500        406
  Amcor Flexibles North America Inc.  2.690% 5/25/31        500        406
  AngloGold Ashanti Holdings plc  3.375% 11/1/28        750        658
  AngloGold Ashanti Holdings plc  3.750% 10/1/30        700        611
  ArcelorMittal SA  4.550% 3/11/26        400        388
  ArcelorMittal SA  6.550% 11/29/27      1,035      1,043
  ArcelorMittal SA  4.250% 7/16/29        400        357
  ArcelorMittal SA  6.800% 11/29/32        700        698
  ArcelorMittal SA  7.000% 10/15/39        809        813
  ArcelorMittal SA  6.750% 3/1/41        480        467
  Barrick Gold Corp.  6.450% 10/15/35        375        391
  Barrick North America Finance LLC  5.700% 5/30/41        770        774
  Barrick North America Finance LLC  5.750% 5/1/43        850        858
  Barrick PD Australia Finance Pty Ltd.  5.950% 10/15/39        675        692
  Berry Global Inc.  0.950% 2/15/24      1,100      1,046
  Berry Global Inc.  1.570% 1/15/26      1,400      1,250
  Berry Global Inc.  1.650% 1/15/27      1,000        853
  BHP Billiton Finance USA Ltd.  6.420% 3/1/26        150        157
  BHP Billiton Finance USA Ltd.  4.125% 2/24/42        850        742
  BHP Billiton Finance USA Ltd.  5.000% 9/30/43      2,350      2,281
  Cabot Corp.  4.000% 7/1/29        240        214
  Carlisle Cos. Inc.  3.500% 12/1/24        150        145
  Carlisle Cos. Inc.  3.750% 12/1/27        650        606
  Carlisle Cos. Inc.  2.750% 3/1/30        675        562
  Celanese US Holdings LLC  3.500% 5/8/24        400        387
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Celanese US Holdings LLC  5.900% 7/5/24      1,410      1,409
  Celanese US Holdings LLC  6.050% 3/15/25      1,500      1,496
  Celanese US Holdings LLC  1.400% 8/5/26        500        421
  Celanese US Holdings LLC  6.165% 7/15/27      1,800      1,778
  Celanese US Holdings LLC  6.330% 7/15/29        600        584
  Celanese US Holdings LLC  6.379% 7/15/32        760        726
  Celulosa Arauco y Constitucion SA  3.875% 11/2/27        300        281
  Celulosa Arauco y Constitucion SA  5.500% 11/2/47        850        757
  CF Industries Inc.  5.150% 3/15/34        700        662
  CF Industries Inc.  4.950% 6/1/43        775        661
  CF Industries Inc.  5.375% 3/15/44        700        628
  Dow Chemical Co.  4.550% 11/30/25         50         49
  Dow Chemical Co.  7.375% 11/1/29         58         65
  Dow Chemical Co.  2.100% 11/15/30        750        603
  Dow Chemical Co.  6.300% 3/15/33        400        421
  Dow Chemical Co.  4.250% 10/1/34        386        347
  Dow Chemical Co.  9.400% 5/15/39        556        734
  Dow Chemical Co.  5.250% 11/15/41        375        351
  Dow Chemical Co.  4.375% 11/15/42      1,300      1,075
  Dow Chemical Co.  4.625% 10/1/44        400        332
  Dow Chemical Co.  5.550% 11/30/48      1,450      1,359
  Dow Chemical Co.  4.800% 5/15/49        925        785
  Dow Chemical Co.  3.600% 11/15/50        750        541
  Dow Chemical Co.  6.900% 5/15/53        700        764
  DuPont de Nemours Inc.  4.493% 11/15/25      1,500      1,476
  DuPont de Nemours Inc.  5.319% 11/15/38      1,625      1,575
  DuPont de Nemours Inc.  5.419% 11/15/48      1,600      1,528
  Eastman Chemical Co.  3.800% 3/15/25      1,073      1,041
  Eastman Chemical Co.  4.500% 12/1/28        125        118
  Eastman Chemical Co.  4.800% 9/1/42        490        416
  Eastman Chemical Co.  4.650% 10/15/44        850        704
  Ecolab Inc.  2.700% 11/1/26        600        558
  Ecolab Inc.  1.650% 2/1/27        200        177
  Ecolab Inc.  3.250% 12/1/27      1,400      1,307
  Ecolab Inc.  5.250% 1/15/28        300        306
  Ecolab Inc.  4.800% 3/24/30        700        695
  Ecolab Inc.  1.300% 1/30/31        500        381
  Ecolab Inc.  2.125% 2/1/32        300        240
  Ecolab Inc.  2.700% 12/15/51      1,400        877
  Ecolab Inc.  2.750% 8/18/55        978        589
  EI du Pont de Nemours & Co.  1.700% 7/15/25        700        646
  EI du Pont de Nemours & Co.  2.300% 7/15/30        400        335
  Fibria Overseas Finance Ltd.  4.000% 1/14/25        250        243
  Fibria Overseas Finance Ltd.  5.500% 1/17/27      1,173      1,177
  FMC Corp.  4.100% 2/1/24        750        739
  FMC Corp.  3.200% 10/1/26        300        280
  FMC Corp.  3.450% 10/1/29        400        353
  FMC Corp.  4.500% 10/1/49        400        318
  Freeport-McMoRan Inc.  4.550% 11/14/24        100         99
  Freeport-McMoRan Inc.  5.000% 9/1/27        500        486
  Freeport-McMoRan Inc.  4.125% 3/1/28        645        599
  Freeport-McMoRan Inc.  4.375% 8/1/28        600        563
  Freeport-McMoRan Inc.  5.250% 9/1/29        500        482
  Freeport-McMoRan Inc.  4.250% 3/1/30        500        456
  Freeport-McMoRan Inc.  4.625% 8/1/30        700        654
  Freeport-McMoRan Inc.  5.400% 11/14/34        700        658
  Freeport-McMoRan Inc.  5.450% 3/15/43      1,700      1,532
10 Georgia-Pacific LLC  0.625% 5/15/24      1,000        940
  Georgia-Pacific LLC  8.875% 5/15/31        700        856
  Huntsman International LLC  4.500% 5/1/29        250        225
  Huntsman International LLC  2.950% 6/15/31        300        233
  International Flavors & Fragrances Inc.  4.450% 9/26/28        415        391
  International Flavors & Fragrances Inc.  4.375% 6/1/47        550        429
 
86

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  International Flavors & Fragrances Inc.  5.000% 9/26/48        500        429
  International Paper Co.  5.000% 9/15/35        150        142
  International Paper Co.  6.000% 11/15/41        300        299
  International Paper Co.  4.800% 6/15/44        600        523
  International Paper Co.  4.350% 8/15/48        450        375
  Kinross Gold Corp.  5.950% 3/15/24        400        402
  Kinross Gold Corp.  4.500% 7/15/27        100         95
  Linde Inc.  4.800% 12/5/24        600        600
  Linde Inc.  2.650% 2/5/25        500        479
  Linde Inc.  4.700% 12/5/25        500        501
  Linde Inc.  1.100% 8/10/30        500        384
  Linde Inc.  3.550% 11/7/42        300        241
  Linde Inc.  2.000% 8/10/50        700        390
  LYB International Finance BV  5.250% 7/15/43        700        617
  LYB International Finance BV  4.875% 3/15/44        900        746
  LYB International Finance III LLC  1.250% 10/1/25      1,962      1,754
  LYB International Finance III LLC  2.250% 10/1/30        900        715
  LYB International Finance III LLC  3.375% 10/1/40        600        426
  LYB International Finance III LLC  4.200% 10/15/49        560        419
  LYB International Finance III LLC  4.200% 5/1/50        850        631
  LYB International Finance III LLC  3.625% 4/1/51        800        536
  LYB International Finance III LLC  3.800% 10/1/60        500        325
  LyondellBasell Industries NV  4.625% 2/26/55        910        715
  Martin Marietta Materials Inc.  4.250% 7/2/24      1,150      1,135
  Martin Marietta Materials Inc.  3.450% 6/1/27        500        465
7 Martin Marietta Materials Inc.  2.500% 3/15/30        375        310
  Martin Marietta Materials Inc.  2.400% 7/15/31        506        404
  Martin Marietta Materials Inc.  4.250% 12/15/47        600        485
  Martin Marietta Materials Inc.  3.200% 7/15/51        743        503
  Mosaic Co.  4.050% 11/15/27        600        567
  Mosaic Co.  5.450% 11/15/33        100         98
  Mosaic Co.  4.875% 11/15/41        400        340
  Mosaic Co.  5.625% 11/15/43        425        397
  NewMarket Corp.  2.700% 3/18/31        500        394
  Newmont Corp.  2.800% 10/1/29        550        469
  Newmont Corp.  2.250% 10/1/30      1,600      1,286
  Newmont Corp.  2.600% 7/15/32      1,000        797
7 Newmont Corp.  5.875% 4/1/35        725        735
  Newmont Corp.  6.250% 10/1/39      1,500      1,574
  Newmont Corp.  5.450% 6/9/44        500        472
  Nucor Corp.  3.950% 5/23/25        200        196
  Nucor Corp.  2.000% 6/1/25      1,014        944
  Nucor Corp.  4.300% 5/23/27        250        243
  Nucor Corp.  2.700% 6/1/30        300        255
  Nucor Corp.  3.125% 4/1/32        500        425
  Nucor Corp.  2.979% 12/15/55      1,400        869
  Nutrien Ltd.  5.900% 11/7/24        300        304
  Nutrien Ltd.  3.000% 4/1/25        250        238
  Nutrien Ltd.  5.950% 11/7/25        300        307
  Nutrien Ltd.  4.000% 12/15/26        500        486
  Nutrien Ltd.  2.950% 5/13/30      1,175      1,007
  Nutrien Ltd.  4.125% 3/15/35      1,250      1,078
  Nutrien Ltd.  5.875% 12/1/36        300        305
  Nutrien Ltd.  5.625% 12/1/40        385        372
  Nutrien Ltd.  4.900% 6/1/43        225        199
  Nutrien Ltd.  5.250% 1/15/45        286        261
  Nutrien Ltd.  5.000% 4/1/49      1,199      1,075
  Packaging Corp. of America  3.650% 9/15/24        500        486
  Packaging Corp. of America  3.400% 12/15/27        400        369
  Packaging Corp. of America  3.000% 12/15/29        950        814
  Packaging Corp. of America  4.050% 12/15/49        200        154
  Packaging Corp. of America  3.050% 10/1/51        100         64
  PPG Industries Inc.  2.400% 8/15/24        300        287
  PPG Industries Inc.  1.200% 3/15/26        500        443
  PPG Industries Inc.  2.550% 6/15/30        600        503
  Reliance Steel & Aluminum Co.  1.300% 8/15/25        675        610
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Reliance Steel & Aluminum Co.  2.150% 8/15/30      1,800      1,422
  Rio Tinto Alcan Inc.  6.125% 12/15/33        725        777
  Rio Tinto Alcan Inc.  5.750% 6/1/35        450        460
  Rio Tinto Finance USA Ltd.  7.125% 7/15/28        225        248
  Rio Tinto Finance USA Ltd.  5.200% 11/2/40        565        563
  Rio Tinto Finance USA Ltd.  2.750% 11/2/51      2,400      1,592
  Rio Tinto Finance USA plc  4.750% 3/22/42      1,100      1,032
  Rio Tinto Finance USA plc  4.125% 8/21/42        619        534
  Rohm & Haas Co.  7.850% 7/15/29        150        167
  RPM International Inc.  3.750% 3/15/27        150        140
  RPM International Inc.  4.550% 3/1/29        275        254
  RPM International Inc.  2.950% 1/15/32        500        394
  RPM International Inc.  5.250% 6/1/45         75         65
  RPM International Inc.  4.250% 1/15/48        450        338
  Sherwin-Williams Co.  3.125% 6/1/24      1,925      1,871
  Sherwin-Williams Co.  4.050% 8/8/24        200        197
  Sherwin-Williams Co.  3.450% 8/1/25        900        866
  Sherwin-Williams Co.  4.250% 8/8/25        200        197
  Sherwin-Williams Co.  3.950% 1/15/26        600        585
  Sherwin-Williams Co.  3.450% 6/1/27        300        282
  Sherwin-Williams Co.  2.950% 8/15/29        700        613
  Sherwin-Williams Co.  2.300% 5/15/30        500        411
  Sherwin-Williams Co.  2.200% 3/15/32        500        395
  Sherwin-Williams Co.  4.000% 12/15/42        220        173
  Sherwin-Williams Co.  4.550% 8/1/45        270        228
  Sherwin-Williams Co.  4.500% 6/1/47      1,100        924
  Sherwin-Williams Co.  3.800% 8/15/49        504        377
  Sherwin-Williams Co.  3.300% 5/15/50        800        550
  Sherwin-Williams Co.  2.900% 3/15/52        500        313
  Sonoco Products Co.  2.250% 2/1/27        500        443
  Sonoco Products Co.  3.125% 5/1/30        700        601
  Southern Copper Corp.  3.875% 4/23/25        650        631
  Southern Copper Corp.  7.500% 7/27/35      1,175      1,362
  Southern Copper Corp.  6.750% 4/16/40        750        838
  Southern Copper Corp.  5.250% 11/8/42      1,100      1,054
  Southern Copper Corp.  5.875% 4/23/45      1,405      1,440
  Steel Dynamics Inc.  2.800% 12/15/24        725        689
  Steel Dynamics Inc.  2.400% 6/15/25        300        281
  Steel Dynamics Inc.  1.650% 10/15/27      1,300      1,089
  Steel Dynamics Inc.  3.450% 4/15/30      1,275      1,122
  Steel Dynamics Inc.  3.250% 1/15/31      1,300      1,113
  Suzano Austria GmbH  6.000% 1/15/29      1,050      1,047
  Suzano Austria GmbH  5.000% 1/15/30      1,200      1,126
  Suzano Austria GmbH  3.750% 1/15/31      1,300      1,088
7 Suzano Austria GmbH  3.125% 1/15/32      1,800      1,406
  Teck Resources Ltd.  3.900% 7/15/30      1,000        897
  Teck Resources Ltd.  6.000% 8/15/40        143        137
  Vale Overseas Ltd.  3.750% 7/8/30      1,100        963
  Vale Overseas Ltd.  8.250% 1/17/34        375        445
  Vale Overseas Ltd.  6.875% 11/21/36      1,980      2,095
  Vale Overseas Ltd.  6.875% 11/10/39      2,310      2,438
  Vale SA  5.625% 9/11/42        238        226
  Vulcan Materials Co.  4.500% 4/1/25        250        247
  Vulcan Materials Co.  3.500% 6/1/30        575        507
  Vulcan Materials Co.  4.500% 6/15/47      1,050        878
  Westlake Corp.  3.375% 6/15/30        900        773
  Westlake Corp.  2.875% 8/15/41        350        230
  Westlake Corp.  5.000% 8/15/46        825        692
  Westlake Corp.  4.375% 11/15/47        435        329
  Westlake Corp.  3.125% 8/15/51        500        311
  Westlake Corp.  3.375% 8/15/61        900        531
  WestRock MWV LLC  8.200% 1/15/30        475        537
  WestRock MWV LLC  7.950% 2/15/31        275        310
  WRKCo Inc.  3.000% 9/15/24        525        502
  WRKCo Inc.  4.650% 3/15/26        600        591
  WRKCo Inc.  3.375% 9/15/27      1,325      1,218
  WRKCo Inc.  4.000% 3/15/28        800        746
 
87

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  WRKCo Inc.  3.900% 6/1/28        607        560
  WRKCo Inc.  4.900% 3/15/29      1,325      1,275
  WRKCo Inc.  4.200% 6/1/32        700        630
  WRKCo Inc.  3.000% 6/15/33      1,000        798
                                                 148,874
Real Estate (0.4%)
  Agree LP  2.000% 6/15/28        500        409
  Agree LP  4.800% 10/1/32        500        460
  Agree LP  2.600% 6/15/33        500        377
  Alexandria Real Estate Equities Inc.  3.450% 4/30/25        598        579
  Alexandria Real Estate Equities Inc.  4.300% 1/15/26        300        293
  Alexandria Real Estate Equities Inc.  3.800% 4/15/26        200        194
  Alexandria Real Estate Equities Inc.  3.950% 1/15/28        350        329
  Alexandria Real Estate Equities Inc.  4.500% 7/30/29        200        189
  Alexandria Real Estate Equities Inc.  2.750% 12/15/29      1,529      1,296
  Alexandria Real Estate Equities Inc.  4.700% 7/1/30        500        480
  Alexandria Real Estate Equities Inc.  4.900% 12/15/30        388        378
  Alexandria Real Estate Equities Inc.  3.375% 8/15/31        600        524
  Alexandria Real Estate Equities Inc.  1.875% 2/1/33      3,000      2,235
  Alexandria Real Estate Equities Inc.  2.950% 3/15/34        715        582
  Alexandria Real Estate Equities Inc.  4.850% 4/15/49        200        170
  Alexandria Real Estate Equities Inc.  4.000% 2/1/50        565        430
  Alexandria Real Estate Equities Inc.  3.000% 5/18/51        500        319
  Alexandria Real Estate Equities Inc.  3.550% 3/15/52        715        513
  American Assets Trust LP  3.375% 2/1/31        500        396
  American Homes 4 Rent LP  4.900% 2/15/29        325        307
  American Homes 4 Rent LP  2.375% 7/15/31        675        519
  American Homes 4 Rent LP  3.375% 7/15/51        500        315
  American Tower Corp.  5.000% 2/15/24      1,900      1,896
  American Tower Corp.  3.375% 5/15/24        500        487
  American Tower Corp.  2.950% 1/15/25        885        844
  American Tower Corp.  1.600% 4/15/26        500        445
  American Tower Corp.  1.450% 9/15/26        550        480
  American Tower Corp.  3.375% 10/15/26      1,069      1,000
  American Tower Corp.  2.750% 1/15/27      2,709      2,454
  American Tower Corp.  3.125% 1/15/27        975        895
  American Tower Corp.  3.650% 3/15/27        600        561
  American Tower Corp.  3.550% 7/15/27      1,100      1,018
  American Tower Corp.  3.600% 1/15/28        500        460
  American Tower Corp.  1.500% 1/31/28      1,000        828
  American Tower Corp.  3.800% 8/15/29      1,475      1,341
  American Tower Corp.  2.900% 1/15/30      1,490      1,262
  American Tower Corp.  2.100% 6/15/30        560        444
  American Tower Corp.  1.875% 10/15/30        700        540
  American Tower Corp.  2.700% 4/15/31        500        407
  American Tower Corp.  2.300% 9/15/31        550        428
  American Tower Corp.  4.050% 3/15/32        600        537
  American Tower Corp.  3.700% 10/15/49        500        355
  American Tower Corp.  3.100% 6/15/50        560        358
  American Tower Corp.  2.950% 1/15/51      1,000        618
7 AvalonBay Communities Inc.  2.850% 3/15/23        200        199
7 AvalonBay Communities Inc.  3.500% 11/15/24      1,050      1,019
7 AvalonBay Communities Inc.  3.450% 6/1/25        425        409
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 AvalonBay Communities Inc.  2.950% 5/11/26        250        233
7 AvalonBay Communities Inc.  2.900% 10/15/26         50         46
7 AvalonBay Communities Inc.  3.350% 5/15/27        300        278
7 AvalonBay Communities Inc.  3.200% 1/15/28        350        320
  AvalonBay Communities Inc.  1.900% 12/1/28        500        418
7 AvalonBay Communities Inc.  2.300% 3/1/30        500        415
7 AvalonBay Communities Inc.  2.450% 1/15/31        855        706
  AvalonBay Communities Inc.  2.050% 1/15/32      1,500      1,179
7 AvalonBay Communities Inc.  3.900% 10/15/46        255        196
  Boston Properties LP  3.800% 2/1/24      2,521      2,477
  Boston Properties LP  3.200% 1/15/25        550        527
  Boston Properties LP  2.750% 10/1/26        475        428
  Boston Properties LP  6.750% 12/1/27      2,025      2,091
  Boston Properties LP  2.900% 3/15/30      1,000        817
  Boston Properties LP  3.250% 1/30/31        600        497
  Boston Properties LP  2.550% 4/1/32        500        381
  Brandywine Operating Partnership LP  3.950% 11/15/27      1,950      1,640
  Brixmor Operating Partnership LP  3.650% 6/15/24      1,300      1,262
  Brixmor Operating Partnership LP  3.850% 2/1/25        475        456
  Brixmor Operating Partnership LP  4.125% 6/15/26        400        380
  Brixmor Operating Partnership LP  3.900% 3/15/27        300        277
  Brixmor Operating Partnership LP  2.250% 4/1/28      2,000      1,663
  Brixmor Operating Partnership LP  4.125% 5/15/29      1,088        972
  Brixmor Operating Partnership LP  4.050% 7/1/30      1,400      1,231
  Camden Property Trust  4.100% 10/15/28        250        236
  Camden Property Trust  3.150% 7/1/29        100         89
  Camden Property Trust  2.800% 5/15/30      1,735      1,494
  Camden Property Trust  3.350% 11/1/49        800        557
  CBRE Services Inc.  4.875% 3/1/26        625        618
  CBRE Services Inc.  2.500% 4/1/31        500        395
  Corporate Office Properties LP  2.900% 12/1/33      1,975      1,391
  Crown Castle Inc.  3.200% 9/1/24        525        507
  Crown Castle Inc.  1.350% 7/15/25        522        475
  Crown Castle Inc.  4.450% 2/15/26      1,405      1,372
  Crown Castle Inc.  3.700% 6/15/26      1,175      1,117
  Crown Castle Inc.  1.050% 7/15/26        500        433
  Crown Castle Inc.  4.000% 3/1/27        500        476
  Crown Castle Inc.  2.900% 3/15/27        700        637
  Crown Castle Inc.  3.650% 9/1/27      1,190      1,107
  Crown Castle Inc.  3.800% 2/15/28        525        488
  Crown Castle Inc.  3.100% 11/15/29        400        349
  Crown Castle Inc.  3.300% 7/1/30      1,300      1,136
  Crown Castle Inc.  2.250% 1/15/31      1,250      1,000
  Crown Castle Inc.  2.100% 4/1/31        500        394
  Crown Castle Inc.  2.500% 7/15/31        600        483
  Crown Castle Inc.  2.900% 4/1/41      1,300        892
  Crown Castle Inc.  4.750% 5/15/47        300        255
  Crown Castle Inc.  5.200% 2/15/49        430        386
  Crown Castle Inc.  4.150% 7/1/50        700        539
  Crown Castle Inc.  3.250% 1/15/51      1,200        784
  CubeSmart LP  4.000% 11/15/25        160        154
  CubeSmart LP  3.125% 9/1/26        425        394
  CubeSmart LP  2.250% 12/15/28        500        412
  CubeSmart LP  4.375% 2/15/29        150        139
  CubeSmart LP  3.000% 2/15/30        500        415
  CubeSmart LP  2.000% 2/15/31        300        226
  CubeSmart LP  2.500% 2/15/32        500        383
  Digital Realty Trust LP  5.550% 1/15/28        500        503
  Digital Realty Trust LP  4.450% 7/15/28      1,350      1,280
  Digital Realty Trust LP  3.600% 7/1/29      1,100        983
  EPR Properties  4.500% 6/1/27        564        487
  EPR Properties  3.750% 8/15/29        686        535
  EPR Properties  3.600% 11/15/31        545        393
  Equinix Inc.  2.625% 11/18/24      2,900      2,765
  Equinix Inc.  1.250% 7/15/25        500        453
  Equinix Inc.  1.000% 9/15/25        500        447
 
88

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Equinix Inc.  1.450% 5/15/26        420        369
  Equinix Inc.  2.900% 11/18/26      1,250      1,142
  Equinix Inc.  1.800% 7/15/27      1,150        985
  Equinix Inc.  1.550% 3/15/28        116         96
  Equinix Inc.  2.000% 5/15/28        250        211
  Equinix Inc.  3.200% 11/18/29      1,000        870
  Equinix Inc.  2.150% 7/15/30        825        658
  Equinix Inc.  2.500% 5/15/31        850        681
  Equinix Inc.  3.000% 7/15/50        400        253
  Equinix Inc.  2.950% 9/15/51        400        250
  Equinix Inc.  3.400% 2/15/52        400        275
  ERP Operating LP  3.375% 6/1/25        350        337
  ERP Operating LP  2.850% 11/1/26      1,300      1,201
  ERP Operating LP  3.500% 3/1/28        500        461
  ERP Operating LP  4.150% 12/1/28        300        282
  ERP Operating LP  3.000% 7/1/29        250        218
  ERP Operating LP  2.500% 2/15/30        300        250
  ERP Operating LP  1.850% 8/1/31        600        466
  ERP Operating LP  4.500% 7/1/44        550        468
  ERP Operating LP  4.500% 6/1/45        350        295
  Essex Portfolio LP  3.250% 5/1/23         50         50
  Essex Portfolio LP  3.875% 5/1/24        275        269
  Essex Portfolio LP  3.500% 4/1/25        200        193
  Essex Portfolio LP  3.375% 4/15/26        963        905
  Essex Portfolio LP  4.000% 3/1/29        280        255
  Essex Portfolio LP  3.000% 1/15/30        405        342
  Essex Portfolio LP  1.650% 1/15/31        877        653
  Essex Portfolio LP  2.650% 3/15/32        455        360
  Essex Portfolio LP  4.500% 3/15/48      1,000        809
  Extra Space Storage LP  3.900% 4/1/29        500        449
  Extra Space Storage LP  2.550% 6/1/31        500        391
  Extra Space Storage LP  2.350% 3/15/32        500        379
  Federal Realty Investment Trust  2.750% 6/1/23        325        321
  Federal Realty Investment Trust  3.250% 7/15/27        225        206
  Federal Realty Investment Trust  3.200% 6/15/29         75         65
  Federal Realty Investment Trust  4.500% 12/1/44        825        648
  GLP Capital LP  3.350% 9/1/24        300        287
  GLP Capital LP  5.250% 6/1/25        625        615
  GLP Capital LP  5.375% 4/15/26      1,100      1,085
  GLP Capital LP  5.750% 6/1/28        100         98
  GLP Capital LP  5.300% 1/15/29        825        779
  GLP Capital LP  4.000% 1/15/30        570        499
  GLP Capital LP  4.000% 1/15/31        800        680
  Healthcare Realty Holdings LP  3.500% 8/1/26        877        816
  Healthcare Realty Holdings LP  3.750% 7/1/27        400        371
  Healthcare Realty Holdings LP  3.625% 1/15/28        300        265
  Healthcare Realty Holdings LP  3.100% 2/15/30        395        331
  Healthcare Realty Holdings LP  2.000% 3/15/31        500        378
  Healthpeak Properties Inc.  3.400% 2/1/25        213        205
  Healthpeak Properties Inc.  3.250% 7/15/26        150        141
  Healthpeak Properties Inc.  3.500% 7/15/29        500        445
  Healthpeak Properties Inc.  3.000% 1/15/30      4,000      3,428
  Healthpeak Properties Inc.  2.875% 1/15/31        100         84
  Healthpeak Properties Inc.  6.750% 2/1/41        175        180
  Highwoods Realty LP  4.125% 3/15/28        850        765
  Highwoods Realty LP  3.050% 2/15/30        500        396
  Highwoods Realty LP  2.600% 2/1/31        500        370
7 Host Hotels & Resorts LP  4.000% 6/15/25        728        700
7 Host Hotels & Resorts LP  3.375% 12/15/29        400        335
7 Host Hotels & Resorts LP  3.500% 9/15/30      1,213      1,001
7 Host Hotels & Resorts LP  2.900% 12/15/31        394        302
  Hudson Pacific Properties LP  3.950% 11/1/27        250        213
  Hudson Pacific Properties LP  5.950% 2/15/28        500        465
  Hudson Pacific Properties LP  4.650% 4/1/29        200        171
  Hudson Pacific Properties LP  3.250% 1/15/30        240        183
  Invitation Homes Operating Partnership LP  2.300% 11/15/28        675        558
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Invitation Homes Operating Partnership LP  2.700% 1/15/34        675        494
  Kilroy Realty LP  3.450% 12/15/24        850        814
  Kilroy Realty LP  4.750% 12/15/28        350        318
  Kilroy Realty LP  3.050% 2/15/30      1,200        961
  Kilroy Realty LP  2.500% 11/15/32        500        356
  Kilroy Realty LP  2.650% 11/15/33      1,500      1,032
  Kimco Realty Corp.  4.450% 1/15/24         75         74
  Kimco Realty Corp.  3.300% 2/1/25        500        479
  Kimco Realty Corp.  2.800% 10/1/26      1,294      1,189
  Kimco Realty Corp.  1.900% 3/1/28      1,000        839
  Kimco Realty Corp.  2.700% 10/1/30        250        204
  Kimco Realty Corp.  2.250% 12/1/31        500        383
  Kimco Realty Corp.  3.200% 4/1/32        500        414
  Kimco Realty Corp.  4.600% 2/1/33        575        529
  Kimco Realty Corp.  4.250% 4/1/45        425        323
  Kimco Realty Corp.  4.450% 9/1/47        250        194
  Kite Realty Group LP  4.000% 10/1/26        725        667
  Life Storage LP  3.500% 7/1/26        475        446
  Life Storage LP  3.875% 12/15/27        100         93
  Life Storage LP  4.000% 6/15/29        125        112
  Life Storage LP  2.200% 10/15/30        500        388
  Life Storage LP  2.400% 10/15/31        950        725
  LXP Industrial Trust  2.700% 9/15/30        500        398
  Mid-America Apartments LP  3.750% 6/15/24        325        318
  Mid-America Apartments LP  3.600% 6/1/27      1,431      1,356
  Mid-America Apartments LP  2.750% 3/15/30        295        252
  Mid-America Apartments LP  1.700% 2/15/31        900        703
  Mid-America Apartments LP  2.875% 9/15/51        500        321
  National Health Investors Inc.  3.000% 2/1/31      1,000        720
  National Retail Properties Inc.  3.900% 6/15/24        275        269
  National Retail Properties Inc.  4.000% 11/15/25        450        434
  National Retail Properties Inc.  3.600% 12/15/26        449        418
  National Retail Properties Inc.  3.500% 10/15/27        550        498
  National Retail Properties Inc.  4.300% 10/15/28        300        278
  National Retail Properties Inc.  2.500% 4/15/30        325        263
  National Retail Properties Inc.  4.800% 10/15/48        250        207
  National Retail Properties Inc.  3.100% 4/15/50        500        310
  National Retail Properties Inc.  3.500% 4/15/51        500        336
  National Retail Properties Inc.  3.000% 4/15/52        500        305
  Omega Healthcare Investors Inc.  4.950% 4/1/24        275        272
  Omega Healthcare Investors Inc.  4.500% 1/15/25        281        273
  Omega Healthcare Investors Inc.  5.250% 1/15/26        475        466
  Omega Healthcare Investors Inc.  4.750% 1/15/28        300        276
  Omega Healthcare Investors Inc.  3.625% 10/1/29      2,000      1,644
  Omega Healthcare Investors Inc.  3.375% 2/1/31        750        580
  Phillips Edison Grocery Center Operating Partnership I LP  2.625% 11/15/31      1,000        735
  Physicians Realty LP  4.300% 3/15/27        744        702
  Physicians Realty LP  3.950% 1/15/28        300        274
  Physicians Realty LP  2.625% 11/1/31        437        341
  Piedmont Operating Partnership LP  3.400% 6/1/23        300        297
  Piedmont Operating Partnership LP  4.450% 3/15/24        275        270
  Piedmont Operating Partnership LP  3.150% 8/15/30        250        190
  Piedmont Operating Partnership LP  2.750% 4/1/32        262        183
  Prologis LP  3.250% 6/30/26      1,075      1,021
  Prologis LP  3.250% 10/1/26        583        553
  Prologis LP  2.125% 4/15/27      1,211      1,085
  Prologis LP  3.375% 12/15/27        250        234
  Prologis LP  3.875% 9/15/28        300        284
  Prologis LP  4.000% 9/15/28        500        477
  Prologis LP  4.375% 2/1/29         50         48
  Prologis LP  2.875% 11/15/29        250        217
  Prologis LP  2.250% 4/15/30        400        334
 
89

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Prologis LP  1.750% 7/1/30        750        593
  Prologis LP  1.250% 10/15/30      1,214        921
  Prologis LP  1.625% 3/15/31      1,000        773
  Prologis LP  4.375% 9/15/48        300        256
  Prologis LP  3.050% 3/1/50        175        118
  Prologis LP  3.000% 4/15/50        510        341
  Prologis LP  2.125% 10/15/50        500        279
  Public Storage  1.500% 11/9/26        575        512
  Public Storage  3.094% 9/15/27        300        280
  Public Storage  1.850% 5/1/28        600        515
  Public Storage  1.950% 11/9/28        575        490
  Public Storage  3.385% 5/1/29        420        384
  Public Storage  2.300% 5/1/31      1,000        816
  Public Storage  2.250% 11/9/31        575        464
  Realty Income Corp.  4.600% 2/6/24        375        372
  Realty Income Corp.  3.875% 7/15/24        250        245
  Realty Income Corp.  3.875% 4/15/25        200        196
  Realty Income Corp.  4.625% 11/1/25        738        732
  Realty Income Corp.  4.875% 6/1/26        350        348
  Realty Income Corp.  4.125% 10/15/26        775        753
  Realty Income Corp.  3.000% 1/15/27        525        486
  Realty Income Corp.  3.950% 8/15/27        475        454
  Realty Income Corp.  3.400% 1/15/28      1,000        921
  Realty Income Corp.  3.650% 1/15/28      1,290      1,204
  Realty Income Corp.  2.200% 6/15/28        500        429
  Realty Income Corp.  3.250% 6/15/29        575        512
  Realty Income Corp.  3.100% 12/15/29        500        437
  Realty Income Corp.  3.250% 1/15/31        831        721
  Realty Income Corp.  5.625% 10/13/32        500        510
  Realty Income Corp.  2.850% 12/15/32        500        406
  Realty Income Corp.  1.800% 3/15/33        500        360
  Realty Income Corp.  4.650% 3/15/47        820        722
  Regency Centers LP  3.600% 2/1/27        340        318
  Regency Centers LP  4.125% 3/15/28        250        231
  Regency Centers LP  2.950% 9/15/29        400        335
  Regency Centers LP  4.400% 2/1/47        400        308
  Rexford Industrial Realty LP  2.150% 9/1/31        650        498
  Sabra Health Care LP  5.125% 8/15/26      1,332      1,269
  Safehold Operating Partnership LP  2.850% 1/15/32        650        493
  Simon Property Group LP  3.750% 2/1/24        500        493
  Simon Property Group LP  2.000% 9/13/24        595        566
  Simon Property Group LP  3.500% 9/1/25        700        671
  Simon Property Group LP  3.300% 1/15/26        195        185
  Simon Property Group LP  3.250% 11/30/26        300        281
  Simon Property Group LP  1.375% 1/15/27        500        437
  Simon Property Group LP  3.375% 6/15/27        820        765
  Simon Property Group LP  3.375% 12/1/27      1,000        927
  Simon Property Group LP  1.750% 2/1/28        500        425
  Simon Property Group LP  2.450% 9/13/29      1,595      1,333
  Simon Property Group LP  2.650% 7/15/30        500        416
  Simon Property Group LP  2.200% 2/1/31        600        475
  Simon Property Group LP  2.250% 1/15/32        500        389
  Simon Property Group LP  2.650% 2/1/32        700        563
  Simon Property Group LP  6.750% 2/1/40        500        539
  Simon Property Group LP  4.750% 3/15/42        350        298
  Simon Property Group LP  4.250% 11/30/46        425        343
  Simon Property Group LP  3.250% 9/13/49        700        461
  Simon Property Group LP  3.800% 7/15/50      1,500      1,099
  SITE Centers Corp.  3.625% 2/1/25        463        437
  SITE Centers Corp.  4.250% 2/1/26        250        235
  SITE Centers Corp.  4.700% 6/1/27      1,000        939
  Spirit Realty LP  3.200% 1/15/27        315        280
  Spirit Realty LP  2.100% 3/15/28      1,200        978
  Spirit Realty LP  4.000% 7/15/29        245        213
  Spirit Realty LP  3.400% 1/15/30        520        433
  STORE Capital Corp.  4.500% 3/15/28        225        203
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  STORE Capital Corp.  4.625% 3/15/29        300        268
  Sun Communities Operating LP  2.300% 11/1/28        725        606
  Sun Communities Operating LP  2.700% 7/15/31        500        394
  Sun Communities Operating LP  4.200% 4/15/32        500        439
  Tanger Properties LP  3.125% 9/1/26        723        660
  Tanger Properties LP  3.875% 7/15/27        250        229
7 UDR Inc.  2.950% 9/1/26        600        552
7 UDR Inc.  3.500% 7/1/27        150        140
7 UDR Inc.  3.500% 1/15/28         50         45
7 UDR Inc.  3.200% 1/15/30        240        208
7 UDR Inc.  2.100% 8/1/32      1,175        873
7 UDR Inc.  1.900% 3/15/33      1,000        712
  UDR Inc.  3.100% 11/1/34        265        205
  Ventas Realty LP  3.500% 4/15/24        325        316
  Ventas Realty LP  3.750% 5/1/24        200        196
  Ventas Realty LP  2.650% 1/15/25        456        432
  Ventas Realty LP  3.500% 2/1/25         59         57
  Ventas Realty LP  3.850% 4/1/27        275        259
  Ventas Realty LP  3.000% 1/15/30        325        274
  Ventas Realty LP  4.750% 11/15/30        450        422
  Ventas Realty LP  5.700% 9/30/43        325        298
  Ventas Realty LP  4.375% 2/1/45        250        195
  Ventas Realty LP  4.875% 4/15/49        650        541
  VICI Properties LP  4.750% 2/15/28        900        855
  VICI Properties LP  4.950% 2/15/30        900        847
  VICI Properties LP  5.125% 5/15/32        900        834
  VICI Properties LP  5.625% 5/15/52        700        619
  Vornado Realty LP  3.500% 1/15/25        425        399
  Vornado Realty LP  3.400% 6/1/31        500        371
  Welltower Inc.  4.500% 1/15/24        725        718
  Welltower Inc.  3.625% 3/15/24        225        220
  Welltower Inc.  4.000% 6/1/25      1,264      1,232
  Welltower Inc.  4.250% 4/1/26        856        830
  Welltower Inc.  2.700% 2/15/27      1,662      1,497
  Welltower Inc.  4.250% 4/15/28        750        704
  Welltower Inc.  4.125% 3/15/29        500        458
  Welltower Inc.  3.100% 1/15/30      1,250      1,055
  Welltower Inc.  2.750% 1/15/31        500        400
  Welltower Inc.  2.800% 6/1/31        700        558
  Welltower Inc.  2.750% 1/15/32        525        411
  Welltower Inc.  3.850% 6/15/32        500        426
  Welltower Inc.  6.500% 3/15/41        200        200
  Welltower Inc.  4.950% 9/1/48        400        329
  Weyerhaeuser Co.  4.000% 11/15/29        750        686
  Weyerhaeuser Co.  4.000% 4/15/30        800        730
  Weyerhaeuser Co.  7.375% 3/15/32        219        243
  Weyerhaeuser Co.  4.000% 3/9/52        500        379
  WP Carey Inc.  4.600% 4/1/24        550        545
  WP Carey Inc.  4.000% 2/1/25        200        195
  WP Carey Inc.  4.250% 10/1/26        300        289
  WP Carey Inc.  3.850% 7/15/29        200        180
  WP Carey Inc.  2.250% 4/1/33      1,000        742
                                                 198,092
Technology (1.0%)
  Adobe Inc.  1.900% 2/1/25        100         94
  Adobe Inc.  3.250% 2/1/25        800        777
  Adobe Inc.  2.150% 2/1/27        500        456
  Adobe Inc.  2.300% 2/1/30      1,100        938
  Amdocs Ltd.  2.538% 6/15/30        600        487
  Analog Devices Inc.  2.950% 4/1/25        300        288
  Analog Devices Inc.  3.500% 12/5/26        500        477
10 Analog Devices Inc.  3.450% 6/15/27        250        235
  Analog Devices Inc.  1.700% 10/1/28        800        678
  Analog Devices Inc.  2.100% 10/1/31        900        728
  Analog Devices Inc.  2.800% 10/1/41        950        699
  Analog Devices Inc.  2.950% 10/1/51        950        643
  Apple Inc.  3.000% 2/9/24      1,375      1,348
 
90

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Apple Inc.  2.850% 5/11/24      2,500      2,435
  Apple Inc.  1.800% 9/11/24        500        476
  Apple Inc.  2.750% 1/13/25      1,200      1,156
  Apple Inc.  1.125% 5/11/25      6,450      5,944
  Apple Inc.  0.550% 8/20/25      1,000        902
  Apple Inc.  0.700% 2/8/26      2,200      1,955
  Apple Inc.  3.250% 2/23/26      3,805      3,657
  Apple Inc.  2.450% 8/4/26        500        464
  Apple Inc.  2.050% 9/11/26      3,000      2,741
  Apple Inc.  3.350% 2/9/27        200        191
  Apple Inc.  3.200% 5/11/27      2,700      2,563
  Apple Inc.  2.900% 9/12/27      2,331      2,177
  Apple Inc.  3.000% 11/13/27      1,025        958
  Apple Inc.  1.200% 2/8/28      2,200      1,868
  Apple Inc.  1.400% 8/5/28      2,000      1,695
  Apple Inc.  2.200% 9/11/29      4,475      3,866
  Apple Inc.  1.650% 5/11/30      2,000      1,640
  Apple Inc.  1.250% 8/20/30      2,000      1,572
  Apple Inc.  1.650% 2/8/31      2,500      2,012
  Apple Inc.  1.700% 8/5/31        900        720
  Apple Inc.  4.500% 2/23/36        825        817
  Apple Inc.  2.375% 2/8/41      1,300        920
  Apple Inc.  3.850% 5/4/43      2,825      2,454
  Apple Inc.  4.450% 5/6/44        625        593
  Apple Inc.  3.450% 2/9/45      2,344      1,886
  Apple Inc.  4.375% 5/13/45      1,775      1,640
  Apple Inc.  4.650% 2/23/46      3,720      3,537
  Apple Inc.  3.850% 8/4/46      2,350      2,001
  Apple Inc.  3.750% 9/12/47        842        703
  Apple Inc.  3.750% 11/13/47      1,000        835
  Apple Inc.  2.950% 9/11/49      1,600      1,143
  Apple Inc.  2.650% 5/11/50      1,855      1,234
  Apple Inc.  2.400% 8/20/50      1,000        632
  Apple Inc.  2.650% 2/8/51      2,700      1,802
  Apple Inc.  2.700% 8/5/51      1,600      1,069
  Apple Inc.  2.550% 8/20/60      1,500        918
  Apple Inc.  2.800% 2/8/61      1,600      1,027
  Apple Inc.  2.850% 8/5/61      1,300        847
  Applied Materials Inc.  3.900% 10/1/25        756        740
  Applied Materials Inc.  3.300% 4/1/27      1,065      1,012
  Applied Materials Inc.  1.750% 6/1/30        350        285
  Applied Materials Inc.  5.100% 10/1/35        400        404
  Applied Materials Inc.  5.850% 6/15/41        250        273
  Applied Materials Inc.  4.350% 4/1/47      1,225      1,107
  Applied Materials Inc.  2.750% 6/1/50        550        376
  Arrow Electronics Inc.  3.250% 9/8/24        509        490
  Arrow Electronics Inc.  4.000% 4/1/25        300        289
  Arrow Electronics Inc.  3.875% 1/12/28        250        228
  Arrow Electronics Inc.  2.950% 2/15/32        400        315
  Autodesk Inc.  4.375% 6/15/25        250        247
  Autodesk Inc.  3.500% 6/15/27        375        351
  Autodesk Inc.  2.850% 1/15/30        360        309
  Autodesk Inc.  2.400% 12/15/31        900        722
  Automatic Data Processing Inc.  3.375% 9/15/25        825        800
  Automatic Data Processing Inc.  1.700% 5/15/28      1,000        868
  Automatic Data Processing Inc.  1.250% 9/1/30      1,300      1,015
  Avnet Inc.  4.625% 4/15/26        450        433
  Avnet Inc.  3.000% 5/15/31        200        155
  Block Financial LLC  5.250% 10/1/25        350        349
  Block Financial LLC  2.500% 7/15/28        400        339
  Block Financial LLC  3.875% 8/15/30        600        526
  Broadcom Corp.  3.875% 1/15/27      3,150      2,982
  Broadcom Corp.  3.500% 1/15/28        800        729
  Broadcom Inc.  2.250% 11/15/23        700        682
  Broadcom Inc.  3.150% 11/15/25      1,233      1,169
  Broadcom Inc.  3.459% 9/15/26      1,588      1,495
10 Broadcom Inc.  1.950% 2/15/28        600        507
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Broadcom Inc.  4.110% 9/15/28      1,865      1,740
10 Broadcom Inc.  4.000% 4/15/29        500        455
  Broadcom Inc.  4.750% 4/15/29      1,500      1,431
  Broadcom Inc.  5.000% 4/15/30        850        806
  Broadcom Inc.  4.150% 11/15/30      2,000      1,792
10 Broadcom Inc.  2.450% 2/15/31      2,200      1,732
  Broadcom Inc.  4.300% 11/15/32      1,500      1,324
10 Broadcom Inc.  2.600% 2/15/33      1,500      1,124
10 Broadcom Inc.  3.419% 4/15/33      2,692      2,161
10 Broadcom Inc.  3.469% 4/15/34      2,902      2,301
10 Broadcom Inc.  3.137% 11/15/35      1,360        998
10 Broadcom Inc.  3.187% 11/15/36      2,800      2,021
10 Broadcom Inc.  4.926% 5/15/37      2,850      2,491
10 Broadcom Inc.  3.500% 2/15/41      2,100      1,503
10 Broadcom Inc.  3.750% 2/15/51      1,500      1,046
  Broadridge Financial Solutions Inc.  3.400% 6/27/26        320        300
  Broadridge Financial Solutions Inc.  2.900% 12/1/29        375        317
  Broadridge Financial Solutions Inc.  2.600% 5/1/31        900        732
  Cadence Design Systems Inc.  4.375% 10/15/24        279        276
  CDW LLC  4.125% 5/1/25        300        292
  CDW LLC  4.250% 4/1/28        347        319
  CDW LLC  3.250% 2/15/29        487        415
  CGI Inc.  1.450% 9/14/26        625        552
  CGI Inc.  2.300% 9/14/31        400        302
  Cintas Corp. No. 2  3.700% 4/1/27      1,373      1,322
  Cisco Systems Inc.  3.625% 3/4/24      2,000      1,971
  Cisco Systems Inc.  2.950% 2/28/26      1,550      1,480
  Cisco Systems Inc.  2.500% 9/20/26      1,350      1,259
  Cisco Systems Inc.  5.900% 2/15/39      1,400      1,511
  Cisco Systems Inc.  5.500% 1/15/40      1,275      1,330
  Corning Inc.  4.700% 3/15/37        750        681
  Corning Inc.  5.750% 8/15/40        665        660
  Corning Inc.  4.750% 3/15/42        300        266
  Corning Inc.  4.375% 11/15/57        775        603
  Corning Inc.  5.850% 11/15/68        400        368
  Corning Inc.  5.450% 11/15/79        700        607
  Dell Inc.  7.100% 4/15/28         70         75
  Dell Inc.  6.500% 4/15/38        400        395
  Dell International LLC  4.000% 7/15/24      1,625      1,595
  Dell International LLC  5.850% 7/15/25        700        709
  Dell International LLC  6.020% 6/15/26      4,500      4,594
  Dell International LLC  4.900% 10/1/26      1,000        985
  Dell International LLC  6.100% 7/15/27        800        822
  Dell International LLC  5.300% 10/1/29      1,650      1,611
  Dell International LLC  6.200% 7/15/30      1,675      1,705
  Dell International LLC  8.100% 7/15/36        972      1,090
10 Dell International LLC  3.375% 12/15/41      1,000        672
  Dell International LLC  8.350% 7/15/46        571        655
10 Dell International LLC  3.450% 12/15/51      1,200        742
  DXC Technology Co.  1.800% 9/15/26        700        609
  DXC Technology Co.  2.375% 9/15/28      2,600      2,186
  Equifax Inc.  2.600% 12/1/24        200        191
  Equifax Inc.  2.600% 12/15/25        375        349
  Equifax Inc.  3.100% 5/15/30        445        374
  Equifax Inc.  2.350% 9/15/31        900        698
  Fidelity National Information Services Inc.  0.600% 3/1/24        500        473
  Fidelity National Information Services Inc.  1.150% 3/1/26      1,100        965
  Fidelity National Information Services Inc.  1.650% 3/1/28        700        582
  Fidelity National Information Services Inc.  3.750% 5/21/29        250        228
  Fidelity National Information Services Inc.  2.250% 3/1/31        700        551
 
91

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Fidelity National Information Services Inc.  3.100% 3/1/41        700        485
  Fiserv Inc.  2.750% 7/1/24      2,400      2,315
  Fiserv Inc.  3.850% 6/1/25      2,267      2,200
  Fiserv Inc.  3.200% 7/1/26      2,100      1,967
  Fiserv Inc.  2.250% 6/1/27      1,550      1,384
  Fiserv Inc.  4.200% 10/1/28        800        757
  Fiserv Inc.  3.500% 7/1/29      2,505      2,257
  Fiserv Inc.  2.650% 6/1/30      1,900      1,593
  Fiserv Inc.  4.400% 7/1/49      1,650      1,342
  Flex Ltd.  4.750% 6/15/25         25         24
  Flex Ltd.  4.875% 6/15/29        514        483
  Fortinet Inc.  1.000% 3/15/26        500        437
  Fortinet Inc.  2.200% 3/15/31        500        384
  Global Payments Inc.  1.500% 11/15/24        500        465
  Global Payments Inc.  2.650% 2/15/25      1,425      1,342
  Global Payments Inc.  1.200% 3/1/26      1,000        872
  Global Payments Inc.  4.800% 4/1/26        600        584
  Global Payments Inc.  2.150% 1/15/27        700        611
  Global Payments Inc.  4.950% 8/15/27        250        243
  Global Payments Inc.  4.450% 6/1/28        300        279
  Global Payments Inc.  3.200% 8/15/29      3,100      2,646
  Global Payments Inc.  2.900% 5/15/30        500        410
  Global Payments Inc.  2.900% 11/15/31        800        632
  Global Payments Inc.  5.400% 8/15/32        650        620
  Global Payments Inc.  4.150% 8/15/49      1,200        857
  Global Payments Inc.  5.950% 8/15/52        430        391
  GXO Logistics Inc.  2.650% 7/15/31        500        371
  Harman International Industries Inc.  4.150% 5/15/25        351        341
  Hewlett Packard Enterprise Co.  1.450% 4/1/24      2,000      1,910
  Hewlett Packard Enterprise Co.  4.900% 10/15/25      1,600      1,584
  Hewlett Packard Enterprise Co.  1.750% 4/1/26        440        395
  Hewlett Packard Enterprise Co.  6.200% 10/15/35        950        979
  Hewlett Packard Enterprise Co.  6.350% 10/15/45      1,850      1,849
  HP Inc.  2.200% 6/17/25      1,925      1,802
  HP Inc.  1.450% 6/17/26        900        789
  HP Inc.  3.000% 6/17/27      2,500      2,283
  HP Inc.  4.750% 1/15/28        675        656
  HP Inc.  4.000% 4/15/29        800        732
  HP Inc.  3.400% 6/17/30      1,500      1,269
  HP Inc.  2.650% 6/17/31        900        701
  HP Inc.  4.200% 4/15/32        800        687
  HP Inc.  5.500% 1/15/33        500        470
  HP Inc.  6.000% 9/15/41      1,110      1,064
  Hubbell Inc.  3.350% 3/1/26        300        285
  Hubbell Inc.  3.150% 8/15/27        275        251
  Hubbell Inc.  3.500% 2/15/28        400        368
  Intel Corp.  2.875% 5/11/24      2,675      2,605
  Intel Corp.  3.400% 3/25/25      1,050      1,022
  Intel Corp.  3.700% 7/29/25      2,005      1,957
  Intel Corp.  2.600% 5/19/26      1,140      1,064
  Intel Corp.  3.750% 3/25/27      1,750      1,690
  Intel Corp.  3.750% 8/5/27        400        385
  Intel Corp.  1.600% 8/12/28        900        765
  Intel Corp.  2.450% 11/15/29      1,400      1,201
  Intel Corp.  3.900% 3/25/30      1,240      1,163
  Intel Corp.  2.000% 8/12/31      1,000        793
  Intel Corp.  4.150% 8/5/32        875        818
  Intel Corp.  4.000% 12/15/32      1,125      1,041
  Intel Corp.  4.600% 3/25/40      1,000        908
  Intel Corp.  2.800% 8/12/41        700        488
  Intel Corp.  4.800% 10/1/41      1,065        983
  Intel Corp.  4.100% 5/19/46      1,350      1,099
  Intel Corp.  4.100% 5/11/47        800        648
  Intel Corp.  3.734% 12/8/47      2,200      1,655
  Intel Corp.  3.250% 11/15/49      1,544      1,052
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Intel Corp.  4.750% 3/25/50      2,185      1,905
  Intel Corp.  3.050% 8/12/51      1,000        650
  Intel Corp.  4.900% 8/5/52      1,100        977
  Intel Corp.  3.100% 2/15/60        700        437
  Intel Corp.  3.200% 8/12/61        700        442
  Intel Corp.  5.050% 8/5/62      1,720      1,518
  International Business Machines Corp.  3.625% 2/12/24      1,400      1,379
  International Business Machines Corp.  3.000% 5/15/24      2,500      2,434
  International Business Machines Corp.  3.450% 2/19/26        900        864
  International Business Machines Corp.  3.300% 5/15/26      2,365      2,251
  International Business Machines Corp.  1.700% 5/15/27      3,300      2,900
  International Business Machines Corp.  3.500% 5/15/29      2,975      2,733
  International Business Machines Corp.  1.950% 5/15/30      2,000      1,630
  International Business Machines Corp.  4.150% 5/15/39      1,350      1,162
  International Business Machines Corp.  5.600% 11/30/39        414        421
  International Business Machines Corp.  2.850% 5/15/40        970        702
  International Business Machines Corp.  4.000% 6/20/42        730        606
  International Business Machines Corp.  4.250% 5/15/49      2,800      2,324
  International Business Machines Corp.  2.950% 5/15/50        545        356
  International Business Machines Corp.  3.430% 2/9/52        425        300
  International Business Machines Corp.  4.900% 7/27/52        714        653
  Intuit Inc.  0.950% 7/15/25        650        592
  Intuit Inc.  1.350% 7/15/27        400        346
  Intuit Inc.  1.650% 7/15/30        400        321
  Jabil Inc.  3.950% 1/12/28        400        373
  Jabil Inc.  3.600% 1/15/30        500        438
  Jabil Inc.  3.000% 1/15/31        450        372
  Juniper Networks Inc.  1.200% 12/10/25        500        447
  Juniper Networks Inc.  3.750% 8/15/29        500        445
  Juniper Networks Inc.  2.000% 12/10/30        500        380
  Juniper Networks Inc.  5.950% 3/15/41        150        140
  KLA Corp.  4.650% 11/1/24        240        240
  KLA Corp.  4.100% 3/15/29        300        290
  KLA Corp.  4.650% 7/15/32        900        882
  KLA Corp.  5.000% 3/15/49        800        748
  KLA Corp.  3.300% 3/1/50      2,200      1,595
  KLA Corp.  4.950% 7/15/52      1,000        939
  KLA Corp.  5.250% 7/15/62        750        723
  Kyndryl Holdings Inc.  2.050% 10/15/26        300        248
  Kyndryl Holdings Inc.  2.700% 10/15/28        100         75
  Kyndryl Holdings Inc.  3.150% 10/15/31        600        401
  Kyndryl Holdings Inc.  4.100% 10/15/41        400        236
  Lam Research Corp.  3.800% 3/15/25        501        490
  Lam Research Corp.  3.750% 3/15/26        600        582
  Lam Research Corp.  4.000% 3/15/29        600        571
  Lam Research Corp.  1.900% 6/15/30        785        639
  Lam Research Corp.  4.875% 3/15/49        500        478
  Lam Research Corp.  2.875% 6/15/50        500        338
  Lam Research Corp.  3.125% 6/15/60        400        263
  Legrand France SA  8.500% 2/15/25        300        324
  Leidos Inc.  3.625% 5/15/25        355        341
  Leidos Inc.  4.375% 5/15/30      1,200      1,083
  Leidos Inc.  2.300% 2/15/31        800        612
  Marvell Technology Inc.  2.450% 4/15/28        400        336
 
92

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Marvell Technology Inc.  4.875% 6/22/28        300        285
  Marvell Technology Inc.  2.950% 4/15/31        300        241
  Microchip Technology Inc.  4.250% 9/1/25      1,000        971
  Micron Technology Inc.  4.975% 2/6/26        275        271
  Micron Technology Inc.  4.185% 2/15/27        750        713
  Micron Technology Inc.  5.327% 2/6/29        575        552
  Micron Technology Inc.  4.663% 2/15/30        300        272
  Micron Technology Inc.  2.703% 4/15/32        700        525
  Micron Technology Inc.  3.366% 11/1/41      1,000        669
  Micron Technology Inc.  3.477% 11/1/51        500        311
  Microsoft Corp.  2.875% 2/6/24      2,213      2,170
  Microsoft Corp.  3.125% 11/3/25      2,270      2,193
  Microsoft Corp.  2.400% 8/8/26      7,700      7,183
  Microsoft Corp.  3.300% 2/6/27      3,800      3,663
  Microsoft Corp.  3.500% 2/12/35      1,325      1,201
  Microsoft Corp.  3.450% 8/8/36      2,450      2,174
  Microsoft Corp.  4.100% 2/6/37      1,075      1,020
  Microsoft Corp.  3.700% 8/8/46      5,824      4,975
  Microsoft Corp.  2.525% 6/1/50      6,365      4,242
  Microsoft Corp.  2.921% 3/17/52      7,076      5,042
  Microsoft Corp.  2.675% 6/1/60      3,407      2,202
  Microsoft Corp.  3.041% 3/17/62      3,671      2,557
  Moody's Corp.  4.875% 2/15/24        425        424
  Moody's Corp.  3.250% 1/15/28        300        277
  Moody's Corp.  2.000% 8/19/31        600        475
  Moody's Corp.  2.750% 8/19/41        600        419
  Moody's Corp.  5.250% 7/15/44        600        576
  Moody's Corp.  4.875% 12/17/48        300        271
  Moody's Corp.  3.250% 5/20/50        250        172
  Moody's Corp.  3.750% 2/25/52        500        385
  Moody's Corp.  3.100% 11/29/61        250        158
  Motorola Solutions Inc.  4.000% 9/1/24         32         31
  Motorola Solutions Inc.  4.600% 2/23/28        550        533
  Motorola Solutions Inc.  4.600% 5/23/29        500        475
  Motorola Solutions Inc.  2.300% 11/15/30      1,000        785
  Motorola Solutions Inc.  2.750% 5/24/31        500        399
  Motorola Solutions Inc.  5.500% 9/1/44        300        272
  NetApp Inc.  3.300% 9/29/24        300        290
  NetApp Inc.  1.875% 6/22/25        500        461
  NetApp Inc.  2.375% 6/22/27        400        356
  NetApp Inc.  2.700% 6/22/30        600        492
  NVIDIA Corp.  0.584% 6/14/24      1,000        943
  NVIDIA Corp.  3.200% 9/16/26      1,764      1,677
  NVIDIA Corp.  1.550% 6/15/28      1,000        855
  NVIDIA Corp.  2.850% 4/1/30      1,150      1,005
  NVIDIA Corp.  2.000% 6/15/31      1,000        803
  NVIDIA Corp.  3.500% 4/1/40      1,700      1,377
  NVIDIA Corp.  3.500% 4/1/50      1,965      1,487
  NVIDIA Corp.  3.700% 4/1/60        350        261
  NXP BV  4.875% 3/1/24        800        794
  NXP BV  5.350% 3/1/26        787        781
  NXP BV  3.875% 6/18/26        300        286
  NXP BV  3.150% 5/1/27        930        848
  NXP BV  5.550% 12/1/28        375        376
  NXP BV  4.300% 6/18/29        750        695
  NXP BV  3.400% 5/1/30      1,100        949
  NXP BV  2.500% 5/11/31        900        711
  NXP BV  2.650% 2/15/32        900        704
  NXP BV  3.250% 5/11/41        900        626
  NXP BV  3.125% 2/15/42        400        270
  NXP BV  3.250% 11/30/51        400        250
  Oracle Corp.  3.400% 7/8/24      1,100      1,073
  Oracle Corp.  2.950% 11/15/24      2,860      2,752
  Oracle Corp.  2.500% 4/1/25      4,156      3,919
  Oracle Corp.  2.950% 5/15/25      3,125      2,967
  Oracle Corp.  1.650% 3/25/26      3,575      3,204
  Oracle Corp.  2.650% 7/15/26      5,000      4,598
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Oracle Corp.  2.800% 4/1/27      4,450      4,059
  Oracle Corp.  2.300% 3/25/28      1,700      1,474
  Oracle Corp.  6.150% 11/9/29      1,075      1,118
  Oracle Corp.  2.950% 4/1/30      2,950      2,518
  Oracle Corp.  2.875% 3/25/31      3,000      2,489
  Oracle Corp.  6.250% 11/9/32      1,075      1,129
  Oracle Corp.  4.300% 7/8/34      1,350      1,189
  Oracle Corp.  3.900% 5/15/35      1,375      1,146
  Oracle Corp.  3.850% 7/15/36      1,180        965
  Oracle Corp.  3.800% 11/15/37      2,484      1,960
  Oracle Corp.  6.125% 7/8/39        600        597
  Oracle Corp.  3.600% 4/1/40      3,325      2,455
  Oracle Corp.  5.375% 7/15/40      2,060      1,891
  Oracle Corp.  3.650% 3/25/41      2,050      1,516
  Oracle Corp.  4.500% 7/8/44        985        792
  Oracle Corp.  4.125% 5/15/45        825        623
  Oracle Corp.  4.000% 7/15/46      3,340      2,453
  Oracle Corp.  4.000% 11/15/47      2,475      1,817
  Oracle Corp.  3.600% 4/1/50      4,200      2,865
  Oracle Corp.  3.950% 3/25/51      3,025      2,179
  Oracle Corp.  6.900% 11/9/52      1,075      1,163
  Oracle Corp.  4.375% 5/15/55      1,150        883
  Oracle Corp.  3.850% 4/1/60      3,000      2,007
  Oracle Corp.  4.100% 3/25/61      1,300        908
  PayPal Holdings Inc.  2.400% 10/1/24        400        383
  PayPal Holdings Inc.  1.650% 6/1/25        450        417
  PayPal Holdings Inc.  2.650% 10/1/26        900        831
  PayPal Holdings Inc.  2.850% 10/1/29      1,000        871
  PayPal Holdings Inc.  2.300% 6/1/30        900        739
  PayPal Holdings Inc.  3.250% 6/1/50      1,000        688
  PayPal Holdings Inc.  5.050% 6/1/52        900        821
  PayPal Holdings Inc.  5.250% 6/1/62        500        457
10 Qorvo Inc.  1.750% 12/15/24        450        415
  Qorvo Inc.  4.375% 10/15/29        800        707
  QUALCOMM Inc.  2.900% 5/20/24        612        597
  QUALCOMM Inc.  3.450% 5/20/25      1,165      1,133
  QUALCOMM Inc.  3.250% 5/20/27      1,150      1,095
  QUALCOMM Inc.  1.300% 5/20/28        964        816
  QUALCOMM Inc.  2.150% 5/20/30      1,400      1,183
  QUALCOMM Inc.  1.650% 5/20/32      1,931      1,490
  QUALCOMM Inc.  4.250% 5/20/32        300        289
  QUALCOMM Inc.  5.400% 5/20/33        650        677
  QUALCOMM Inc.  4.650% 5/20/35        800        776
  QUALCOMM Inc.  4.800% 5/20/45      1,000        938
  QUALCOMM Inc.  4.300% 5/20/47      1,475      1,279
  QUALCOMM Inc.  3.250% 5/20/50        500        364
  QUALCOMM Inc.  4.500% 5/20/52        900        793
  QUALCOMM Inc.  6.000% 5/20/53        650        694
  Quanta Services Inc.  0.950% 10/1/24      2,000      1,841
  Quanta Services Inc.  2.900% 10/1/30        800        659
  RELX Capital Inc.  4.000% 3/18/29        800        741
  RELX Capital Inc.  3.000% 5/22/30        500        426
  RELX Capital Inc.  4.750% 5/20/32        500        480
  Roper Technologies Inc.  2.350% 9/15/24        500        477
  Roper Technologies Inc.  1.000% 9/15/25        500        449
  Roper Technologies Inc.  3.850% 12/15/25        250        242
  Roper Technologies Inc.  3.800% 12/15/26        600        573
  Roper Technologies Inc.  1.400% 9/15/27      2,000      1,696
  Roper Technologies Inc.  4.200% 9/15/28        650        627
  Roper Technologies Inc.  2.950% 9/15/29        475        412
  Roper Technologies Inc.  2.000% 6/30/30        525        420
  Roper Technologies Inc.  1.750% 2/15/31      2,000      1,540
  S&P Global Inc.  2.950% 1/22/27        400        374
10 S&P Global Inc.  2.450% 3/1/27      1,000        914
10 S&P Global Inc.  4.750% 8/1/28        800        791
10 S&P Global Inc.  2.700% 3/1/29      1,000        880
10 S&P Global Inc.  4.250% 5/1/29        900        859
 
93

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  S&P Global Inc.  2.500% 12/1/29        375        321
  S&P Global Inc.  1.250% 8/15/30        500        385
10 S&P Global Inc.  2.900% 3/1/32      1,200      1,024
  S&P Global Inc.  3.250% 12/1/49      1,050        767
10 S&P Global Inc.  3.700% 3/1/52        900        701
  S&P Global Inc.  2.300% 8/15/60      1,000        550
10 S&P Global Inc.  3.900% 3/1/62        250        194
  Salesforce Inc.  3.700% 4/11/28      1,275      1,226
  Salesforce Inc.  1.500% 7/15/28        965        825
  Salesforce Inc.  1.950% 7/15/31        600        480
  Salesforce Inc.  2.700% 7/15/41      1,200        857
  Salesforce Inc.  2.900% 7/15/51      2,300      1,532
  Salesforce Inc.  3.050% 7/15/61      1,200        777
  ServiceNow Inc.  1.400% 9/1/30      1,200        914
  Skyworks Solutions Inc.  1.800% 6/1/26        500        440
  Skyworks Solutions Inc.  3.000% 6/1/31        500        392
  TD SYNNEX Corp.  1.750% 8/9/26        500        425
  TD SYNNEX Corp.  2.375% 8/9/28      2,500      2,026
  Teledyne FLIR LLC  2.500% 8/1/30        500        404
  Texas Instruments Inc.  2.625% 5/15/24        225        218
  Texas Instruments Inc.  4.700% 11/18/24        500        499
  Texas Instruments Inc.  1.375% 3/12/25      1,900      1,775
  Texas Instruments Inc.  1.125% 9/15/26        500        442
  Texas Instruments Inc.  2.900% 11/3/27        400        373
  Texas Instruments Inc.  4.600% 2/15/28        500        501
  Texas Instruments Inc.  2.250% 9/4/29      1,100        951
  Texas Instruments Inc.  1.750% 5/4/30        560        461
  Texas Instruments Inc.  1.900% 9/15/31        450        364
  Texas Instruments Inc.  3.875% 3/15/39        600        529
  Texas Instruments Inc.  4.150% 5/15/48      1,225      1,090
  Texas Instruments Inc.  2.700% 9/15/51        400        278
  TSMC Arizona Corp.  1.750% 10/25/26      1,150      1,021
  TSMC Arizona Corp.  3.875% 4/22/27        575        552
  TSMC Arizona Corp.  4.125% 4/22/29        500        475
  TSMC Arizona Corp.  2.500% 10/25/31      1,000        822
  TSMC Arizona Corp.  4.250% 4/22/32        450        434
  TSMC Arizona Corp.  3.125% 10/25/41        875        670
  TSMC Arizona Corp.  3.250% 10/25/51      1,050        763
  TSMC Arizona Corp.  4.500% 4/22/52        900        811
  Verisk Analytics Inc.  4.000% 6/15/25        125        122
  Verisk Analytics Inc.  4.125% 3/15/29        900        840
  Verisk Analytics Inc.  5.500% 6/15/45        600        562
  Verisk Analytics Inc.  3.625% 5/15/50        600        415
  VMware Inc.  4.500% 5/15/25      2,086      2,045
  VMware Inc.  1.400% 8/15/26      1,400      1,219
  VMware Inc.  4.650% 5/15/27      1,200      1,159
  VMware Inc.  3.900% 8/21/27      1,050        980
  VMware Inc.  1.800% 8/15/28        700        572
  VMware Inc.  4.700% 5/15/30      1,610      1,498
  VMware Inc.  2.200% 8/15/31      1,400      1,061
  Western Digital Corp.  4.750% 2/15/26      2,000      1,882
  Western Digital Corp.  2.850% 2/1/29        500        387
  Workday Inc.  3.500% 4/1/27      1,100      1,029
  Workday Inc.  3.700% 4/1/29        800        734
  Workday Inc.  3.800% 4/1/32      1,200      1,059
  Xilinx Inc.  2.950% 6/1/24      1,000        972
  Xilinx Inc.  2.375% 6/1/30        550        462
                                                 462,285
Utilities (0.9%)
  AEP Texas Inc.  3.950% 6/1/28        400        375
  AEP Texas Inc.  3.800% 10/1/47        250        182
7 AEP Texas Inc.  3.450% 1/15/50      2,379      1,685
  AEP Transmission Co. LLC  3.100% 12/1/26        200        188
  AEP Transmission Co. LLC  4.000% 12/1/46        325        257
  AEP Transmission Co. LLC  3.750% 12/1/47        450        349
  AEP Transmission Co. LLC  4.250% 9/15/48        325        269
  AEP Transmission Co. LLC  3.800% 6/15/49        270        211
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  AEP Transmission Co. LLC  3.150% 9/15/49         70         49
7 AEP Transmission Co. LLC  3.650% 4/1/50        300        230
7 AEP Transmission Co. LLC  2.750% 8/15/51        500        318
7 AEP Transmission Co. LLC  4.500% 6/15/52        500        444
  AES Corp.  1.375% 1/15/26      2,900      2,584
  AES Corp.  2.450% 1/15/31        800        634
  Alabama Power Co.  3.750% 9/1/27        500        480
7 Alabama Power Co.  1.450% 9/15/30        500        389
  Alabama Power Co.  3.050% 3/15/32        600        518
  Alabama Power Co.  3.940% 9/1/32        500        459
  Alabama Power Co.  6.000% 3/1/39        100        104
  Alabama Power Co.  3.850% 12/1/42        125        100
  Alabama Power Co.  4.150% 8/15/44        300        249
  Alabama Power Co.  3.750% 3/1/45        570        443
  Alabama Power Co.  4.300% 1/2/46        300        250
7 Alabama Power Co.  3.700% 12/1/47        325        250
  Alabama Power Co.  3.450% 10/1/49      3,750      2,709
  Alabama Power Co.  3.125% 7/15/51      1,800      1,243
  Alabama Power Co.  3.000% 3/15/52        575        383
  Ameren Corp.  2.500% 9/15/24      1,250      1,194
  Ameren Corp.  3.650% 2/15/26        440        421
  Ameren Corp.  1.950% 3/15/27        500        440
  Ameren Corp.  1.750% 3/15/28        500        424
  Ameren Corp.  3.500% 1/15/31        680        600
  Ameren Illinois Co.  3.250% 3/1/25        275        266
  Ameren Illinois Co.  3.800% 5/15/28        350        333
  Ameren Illinois Co.  1.550% 11/15/30        500        393
  Ameren Illinois Co.  3.850% 9/1/32        190        177
  Ameren Illinois Co.  4.150% 3/15/46        475        400
  Ameren Illinois Co.  3.700% 12/1/47        350        278
  Ameren Illinois Co.  3.250% 3/15/50        240        173
  Ameren Illinois Co.  2.900% 6/15/51        500        334
  Ameren Illinois Co.  5.900% 12/1/52        500        550
  American Electric Power Co. Inc.  2.031% 3/15/24      1,000        963
7 American Electric Power Co. Inc.  1.000% 11/1/25        500        447
  American Electric Power Co. Inc.  5.750% 11/1/27        500        515
7 American Electric Power Co. Inc.  4.300% 12/1/28        500        478
  American Electric Power Co. Inc.  5.950% 11/1/32        500        522
  American Electric Power Co. Inc.  3.250% 3/1/50        500        337
  American Electric Power Co. Inc.  3.875% 2/15/62        750        589
  American Water Capital Corp.  3.850% 3/1/24      1,545      1,521
  American Water Capital Corp.  3.400% 3/1/25        450        436
  American Water Capital Corp.  2.950% 9/1/27      1,225      1,130
  American Water Capital Corp.  3.450% 6/1/29      2,000      1,825
  American Water Capital Corp.  2.800% 5/1/30        200        173
  American Water Capital Corp.  2.300% 6/1/31        300        246
  American Water Capital Corp.  4.450% 6/1/32        700        672
  American Water Capital Corp.  6.593% 10/15/37        700        772
  American Water Capital Corp.  4.300% 12/1/42        125        109
  American Water Capital Corp.  4.300% 9/1/45        500        425
  American Water Capital Corp.  4.000% 12/1/46        500        390
  American Water Capital Corp.  3.750% 9/1/47        475        370
  American Water Capital Corp.  4.200% 9/1/48        450        377
  American Water Capital Corp.  4.150% 6/1/49        400        331
  American Water Capital Corp.  3.450% 5/1/50        500        369
  American Water Capital Corp.  3.250% 6/1/51        500        358
  Appalachian Power Co.  3.400% 6/1/25        400        387
7 Appalachian Power Co.  2.700% 4/1/31      2,700      2,221
7 Appalachian Power Co.  4.500% 8/1/32        392        367
  Appalachian Power Co.  7.000% 4/1/38        260        290
  Appalachian Power Co.  4.400% 5/15/44        575        473
7 Appalachian Power Co.  4.500% 3/1/49        900        745
7 Appalachian Power Co.  3.700% 5/1/50        300        220
  Arizona Public Service Co.  3.150% 5/15/25        500        477
  Arizona Public Service Co.  2.950% 9/15/27        300        272
  Arizona Public Service Co.  2.600% 8/15/29        500        419
  Arizona Public Service Co.  6.350% 12/15/32        500        526
 
94

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Arizona Public Service Co.  5.050% 9/1/41        525        466
  Arizona Public Service Co.  4.500% 4/1/42        325        266
  Arizona Public Service Co.  4.350% 11/15/45        350        275
  Arizona Public Service Co.  3.750% 5/15/46        895        628
  Arizona Public Service Co.  3.350% 5/15/50        300        199
  Atlantic City Electric Co.  2.300% 3/15/31        500        406
  Atmos Energy Corp.  3.000% 6/15/27        375        350
  Atmos Energy Corp.  2.625% 9/15/29        150        130
  Atmos Energy Corp.  1.500% 1/15/31      1,000        779
  Atmos Energy Corp.  5.450% 10/15/32        250        259
  Atmos Energy Corp.  5.500% 6/15/41        800        791
  Atmos Energy Corp.  4.150% 1/15/43         75         63
  Atmos Energy Corp.  4.125% 3/15/49        900        738
  Atmos Energy Corp.  3.375% 9/15/49        720        527
  Atmos Energy Corp.  2.850% 2/15/52        650        424
  Atmos Energy Corp.  5.750% 10/15/52        500        526
  Avangrid Inc.  3.150% 12/1/24        957        917
  Avangrid Inc.  3.800% 6/1/29        600        545
  Avista Corp.  4.350% 6/1/48        300        251
  Avista Corp.  4.000% 4/1/52        346        274
  Baltimore Gas & Electric Co.  2.400% 8/15/26        225        208
  Baltimore Gas & Electric Co.  6.350% 10/1/36        725        775
7 Baltimore Gas & Electric Co.  3.750% 8/15/47        250        193
  Baltimore Gas & Electric Co.  2.900% 6/15/50        300        199
  Berkshire Hathaway Energy Co.  3.500% 2/1/25        250        245
  Berkshire Hathaway Energy Co.  4.050% 4/15/25      1,250      1,232
  Berkshire Hathaway Energy Co.  3.250% 4/15/28      1,000        927
  Berkshire Hathaway Energy Co.  3.700% 7/15/30      2,000      1,831
  Berkshire Hathaway Energy Co.  1.650% 5/15/31        500        387
  Berkshire Hathaway Energy Co.  6.125% 4/1/36      1,000      1,051
  Berkshire Hathaway Energy Co.  5.950% 5/15/37        450        466
  Berkshire Hathaway Energy Co.  5.150% 11/15/43      1,050      1,001
  Berkshire Hathaway Energy Co.  4.500% 2/1/45        705        613
  Berkshire Hathaway Energy Co.  3.800% 7/15/48        250        193
  Berkshire Hathaway Energy Co.  4.450% 1/15/49        850        735
  Berkshire Hathaway Energy Co.  4.250% 10/15/50      1,750      1,459
  Berkshire Hathaway Energy Co.  2.850% 5/15/51        500        329
10 Berkshire Hathaway Energy Co.  4.600% 5/1/53        900        791
  Black Hills Corp.  1.037% 8/23/24        550        513
  Black Hills Corp.  3.950% 1/15/26        250        239
  Black Hills Corp.  3.150% 1/15/27        325        300
  Black Hills Corp.  3.050% 10/15/29        170        144
  Black Hills Corp.  4.350% 5/1/33        350        309
  Black Hills Corp.  4.200% 9/15/46        250        190
  Black Hills Corp.  3.875% 10/15/49        240        170
7 CenterPoint Energy Houston Electric LLC  2.400% 9/1/26        150        137
7 CenterPoint Energy Houston Electric LLC  2.350% 4/1/31        500        415
7 CenterPoint Energy Houston Electric LLC  3.000% 3/1/32        500        432
  CenterPoint Energy Houston Electric LLC  3.550% 8/1/42        700        555
  CenterPoint Energy Houston Electric LLC  3.950% 3/1/48        325        267
7 CenterPoint Energy Houston Electric LLC  4.250% 2/1/49        600        523
7 CenterPoint Energy Houston Electric LLC  2.900% 7/1/50        200        135
7 CenterPoint Energy Houston Electric LLC  3.350% 4/1/51        700        520
7 CenterPoint Energy Houston Electric LLC  3.600% 3/1/52        250        193
7 CenterPoint Energy Houston Electric LLC  4.850% 10/1/52        262        250
  CenterPoint Energy Inc.  2.500% 9/1/24        900        863
  CenterPoint Energy Inc.  1.450% 6/1/26      1,000        888
  CenterPoint Energy Inc.  4.250% 11/1/28        111        104
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  CenterPoint Energy Inc.  2.950% 3/1/30      3,650      3,138
  CenterPoint Energy Inc.  2.650% 6/1/31        500        412
  CenterPoint Energy Inc.  3.700% 9/1/49        300        225
  CenterPoint Energy Resources Corp.  4.000% 4/1/28        450        429
  CenterPoint Energy Resources Corp.  1.750% 10/1/30        500        396
  CenterPoint Energy Resources Corp.  5.850% 1/15/41        375        377
  CenterPoint Energy Resources Corp.  4.100% 9/1/47        250        201
  Cleco Corporate Holdings LLC  3.743% 5/1/26        425        401
  Cleco Corporate Holdings LLC  4.973% 5/1/46        275        233
  Cleveland Electric Illuminating Co.  5.500% 8/15/24      1,275      1,281
  Cleveland Electric Illuminating Co.  5.950% 12/15/36        325        322
  CMS Energy Corp.  3.000% 5/15/26        300        280
  CMS Energy Corp.  3.450% 8/15/27        300        278
  CMS Energy Corp.  4.875% 3/1/44        275        250
7 CMS Energy Corp.  4.750% 6/1/50        400        347
  CMS Energy Corp.  3.750% 12/1/50        500        377
7 Commonwealth Edison Co.  2.950% 8/15/27        275        255
7 Commonwealth Edison Co.  3.150% 3/15/32        300        263
  Commonwealth Edison Co.  5.900% 3/15/36        500        523
  Commonwealth Edison Co.  6.450% 1/15/38        750        825
  Commonwealth Edison Co.  4.700% 1/15/44        825        750
  Commonwealth Edison Co.  3.700% 3/1/45        625        487
  Commonwealth Edison Co.  4.350% 11/15/45        900        770
  Commonwealth Edison Co.  3.650% 6/15/46      1,000        757
7 Commonwealth Edison Co.  3.750% 8/15/47        500        391
  Commonwealth Edison Co.  4.000% 3/1/48        775        638
  Commonwealth Edison Co.  4.000% 3/1/49        700        569
7 Commonwealth Edison Co.  3.200% 11/15/49        250        178
  Commonwealth Edison Co.  3.000% 3/1/50        500        345
7 Commonwealth Edison Co.  2.750% 9/1/51        300        193
7 Commonwealth Edison Co.  3.850% 3/15/52      1,000        801
7 Connecticut Light & Power Co.  0.750% 12/1/25        500        448
7 Connecticut Light & Power Co.  3.200% 3/15/27        250        235
7 Connecticut Light & Power Co.  2.050% 7/1/31        300        242
  Connecticut Light & Power Co.  4.300% 4/15/44        375        323
7 Connecticut Light & Power Co.  4.150% 6/1/45         75         63
  Connecticut Light & Power Co.  4.000% 4/1/48        625        522
7 Consolidated Edison Co. of New York Inc.  3.125% 11/15/27        275        253
  Consolidated Edison Co. of New York Inc.  2.400% 6/15/31      2,000      1,641
7 Consolidated Edison Co. of New York Inc.  5.300% 3/1/35        300        295
7 Consolidated Edison Co. of New York Inc.  5.850% 3/15/36        860        869
7 Consolidated Edison Co. of New York Inc.  6.200% 6/15/36        300        315
7 Consolidated Edison Co. of New York Inc.  6.750% 4/1/38        400        439
7 Consolidated Edison Co. of New York Inc.  5.500% 12/1/39        600        587
  Consolidated Edison Co. of New York Inc.  5.700% 6/15/40        950        942
  Consolidated Edison Co. of New York Inc.  3.950% 3/1/43        550        440
  Consolidated Edison Co. of New York Inc.  4.450% 3/15/44        610        525
  Consolidated Edison Co. of New York Inc.  4.500% 12/1/45        475        407
  Consolidated Edison Co. of New York Inc.  3.850% 6/15/46      1,840      1,431
7 Consolidated Edison Co. of New York Inc.  3.875% 6/15/47        750        580
7 Consolidated Edison Co. of New York Inc.  4.650% 12/1/48        600        526
 
95

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Consolidated Edison Co. of New York Inc.  3.950% 4/1/50      1,800      1,432
  Consolidated Edison Co. of New York Inc.  6.150% 11/15/52        600        650
7 Consolidated Edison Co. of New York Inc.  4.300% 12/1/56         75         61
7 Consolidated Edison Co. of New York Inc.  4.000% 11/15/57        375        286
  Consolidated Edison Co. of New York Inc.  4.500% 5/15/58        500        418
  Constellation Energy Generation LLC  3.250% 6/1/25      1,750      1,676
  Constellation Energy Generation LLC  6.250% 10/1/39      1,100      1,125
  Constellation Energy Generation LLC  5.750% 10/1/41        325        313
  Constellation Energy Generation LLC  5.600% 6/15/42        688        663
  Consumers Energy Co.  3.800% 11/15/28        250        237
  Consumers Energy Co.  3.600% 8/15/32         88         80
  Consumers Energy Co.  3.950% 5/15/43        600        497
  Consumers Energy Co.  3.250% 8/15/46        550        400
  Consumers Energy Co.  3.950% 7/15/47        500        407
  Consumers Energy Co.  4.050% 5/15/48        500        417
  Consumers Energy Co.  4.350% 4/15/49        530        467
  Consumers Energy Co.  3.100% 8/15/50        567        396
  Consumers Energy Co.  3.500% 8/1/51        850        648
  Consumers Energy Co.  2.650% 8/15/52        500        315
  Consumers Energy Co.  4.200% 9/1/52        392        337
  Consumers Energy Co.  2.500% 5/1/60        450        256
  Delmarva Power & Light Co.  4.150% 5/15/45        600        486
  Dominion Energy Inc.  3.071% 8/15/24        500        482
  Dominion Energy Inc.  3.900% 10/1/25        425        414
7 Dominion Energy Inc.  1.450% 4/15/26        500        446
7 Dominion Energy Inc.  2.850% 8/15/26      1,872      1,729
  Dominion Energy Inc.  4.250% 6/1/28        200        191
7 Dominion Energy Inc.  3.375% 4/1/30      2,300      2,026
7 Dominion Energy Inc.  2.250% 8/15/31        920        731
7 Dominion Energy Inc.  4.350% 8/15/32        324        301
  Dominion Energy Inc.  5.375% 11/15/32        725        720
7 Dominion Energy Inc.  6.300% 3/15/33        500        527
7 Dominion Energy Inc.  5.250% 8/1/33        200        196
  Dominion Energy Inc.  7.000% 6/15/38        300        321
7 Dominion Energy Inc.  3.300% 4/15/41        500        370
7 Dominion Energy Inc.  4.900% 8/1/41        890        786
7 Dominion Energy Inc.  4.050% 9/15/42        400        314
7 Dominion Energy Inc.  4.600% 3/15/49        500        426
7 Dominion Energy Inc.  4.850% 8/15/52        250        217
7 Dominion Energy Inc.  5.750% 10/1/54        375        352
7 Dominion Energy South Carolina Inc.  2.300% 12/1/31        250        201
  Dominion Energy South Carolina Inc.  6.625% 2/1/32        375        412
  Dominion Energy South Carolina Inc.  6.050% 1/15/38        450        472
  Dominion Energy South Carolina Inc.  5.450% 2/1/41        250        246
  Dominion Energy South Carolina Inc.  4.600% 6/15/43      1,425      1,270
  Dominion Energy South Carolina Inc.  5.100% 6/1/65        425        395
  DTE Electric Co.  3.650% 3/15/24        825        811
  DTE Electric Co.  3.375% 3/1/25        150        146
7 DTE Electric Co.  1.900% 4/1/28        500        434
  DTE Electric Co.  2.250% 3/1/30      1,250      1,054
7 DTE Electric Co.  2.625% 3/1/31        400        339
7 DTE Electric Co.  4.000% 4/1/43        300        250
  DTE Electric Co.  3.700% 3/15/45        200        159
  DTE Electric Co.  3.700% 6/1/46        550        428
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  DTE Electric Co.  3.750% 8/15/47        450        355
7 DTE Electric Co.  4.050% 5/15/48        500        417
  DTE Electric Co.  3.950% 3/1/49        500        411
7 DTE Electric Co.  3.250% 4/1/51        500        361
7 DTE Energy Co.  2.529% 10/1/24      1,000        955
  DTE Energy Co.  4.220% 11/1/24        900        886
7 DTE Energy Co.  1.050% 6/1/25      1,600      1,450
  DTE Energy Co.  2.850% 10/1/26      3,094      2,851
7 DTE Energy Co.  3.400% 6/15/29        140        125
  DTE Energy Co.  2.950% 3/1/30        235        200
  Duke Energy Carolinas LLC  2.950% 12/1/26      1,500      1,414
7 Duke Energy Carolinas LLC  6.000% 12/1/28        300        319
  Duke Energy Carolinas LLC  2.450% 8/15/29         75         64
  Duke Energy Carolinas LLC  2.450% 2/1/30        400        341
  Duke Energy Carolinas LLC  2.550% 4/15/31        500        418
  Duke Energy Carolinas LLC  2.850% 3/15/32        500        422
  Duke Energy Carolinas LLC  6.100% 6/1/37        425        443
  Duke Energy Carolinas LLC  6.000% 1/15/38        325        341
  Duke Energy Carolinas LLC  6.050% 4/15/38        525        554
  Duke Energy Carolinas LLC  5.300% 2/15/40        710        703
  Duke Energy Carolinas LLC  4.250% 12/15/41      1,000        865
  Duke Energy Carolinas LLC  4.000% 9/30/42        675        558
  Duke Energy Carolinas LLC  3.875% 3/15/46        500        395
  Duke Energy Carolinas LLC  3.700% 12/1/47        425        328
  Duke Energy Carolinas LLC  3.950% 3/15/48        400        322
  Duke Energy Carolinas LLC  3.200% 8/15/49        750        529
  Duke Energy Carolinas LLC  3.450% 4/15/51        500        368
  Duke Energy Carolinas LLC  3.550% 3/15/52        600        453
  Duke Energy Corp.  3.750% 4/15/24        725        712
  Duke Energy Corp.  0.900% 9/15/25        500        448
  Duke Energy Corp.  5.000% 12/8/25        500        499
  Duke Energy Corp.  2.650% 9/1/26        595        550
  Duke Energy Corp.  5.000% 12/8/27        500        497
  Duke Energy Corp.  4.300% 3/15/28        500        482
  Duke Energy Corp.  2.450% 6/1/30      1,700      1,400
  Duke Energy Corp.  2.550% 6/15/31        625        510
  Duke Energy Corp.  4.800% 12/15/45        700        615
  Duke Energy Corp.  3.750% 9/1/46      1,406      1,048
  Duke Energy Corp.  4.200% 6/15/49      1,200        952
  Duke Energy Corp.  3.500% 6/15/51        600        421
  Duke Energy Corp.  5.000% 8/15/52        467        419
  Duke Energy Corp.  3.250% 1/15/82        500        367
  Duke Energy Florida LLC  3.200% 1/15/27        450        425
  Duke Energy Florida LLC  3.800% 7/15/28        425        404
  Duke Energy Florida LLC  2.500% 12/1/29      1,900      1,627
  Duke Energy Florida LLC  1.750% 6/15/30      1,700      1,355
  Duke Energy Florida LLC  2.400% 12/15/31        600        489
  Duke Energy Florida LLC  6.350% 9/15/37        675        727
  Duke Energy Florida LLC  6.400% 6/15/38        800        881
  Duke Energy Florida LLC  3.400% 10/1/46        900        648
  Duke Energy Florida LLC  4.200% 7/15/48        425        358
  Duke Energy Florida LLC  3.000% 12/15/51        500        341
  Duke Energy Florida LLC  5.950% 11/15/52        500        535
7 Duke Energy Florida Project Finance LLC  2.538% 9/1/29        396        356
  Duke Energy Indiana LLC  6.120% 10/15/35      1,175      1,205
7 Duke Energy Indiana LLC  4.900% 7/15/43        250        231
  Duke Energy Indiana LLC  3.750% 5/15/46        875        681
  Duke Energy Indiana LLC  2.750% 4/1/50        775        489
  Duke Energy Ohio Inc.  2.125% 6/1/30        200        164
  Duke Energy Ohio Inc.  3.700% 6/15/46        650        481
  Duke Energy Ohio Inc.  4.300% 2/1/49      1,000        824
  Duke Energy Progress LLC  3.250% 8/15/25      2,051      1,972
  Duke Energy Progress LLC  3.700% 9/1/28        425        400
  Duke Energy Progress LLC  2.000% 8/15/31        500        396
  Duke Energy Progress LLC  3.400% 4/1/32        500        442
  Duke Energy Progress LLC  6.300% 4/1/38        300        323
 
96

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Duke Energy Progress LLC  4.375% 3/30/44        525        453
  Duke Energy Progress LLC  4.150% 12/1/44        100         84
  Duke Energy Progress LLC  4.200% 8/15/45        625        524
  Duke Energy Progress LLC  3.700% 10/15/46      2,100      1,607
  Duke Energy Progress LLC  2.500% 8/15/50        550        333
  Duke Energy Progress LLC  2.900% 8/15/51        550        362
  Duke Energy Progress LLC  4.000% 4/1/52        400        322
7 Duke Energy Progress NC Storm Funding LLC  1.295% 7/1/28        279        237
7 Duke Energy Progress NC Storm Funding LLC  2.387% 7/1/37        375        301
7 Duke Energy Progress NC Storm Funding LLC  2.799% 7/1/41        300        213
7 Eastern Energy Gas Holdings LLC  2.500% 11/15/24        400        381
  Eastern Energy Gas Holdings LLC  3.600% 12/15/24        167        162
  Edison International  4.950% 4/15/25        900        889
  Edison International  5.750% 6/15/27        100        100
  Edison International  6.950% 11/15/29        500        524
  El Paso Electric Co.  6.000% 5/15/35        175        170
  El Paso Electric Co.  5.000% 12/1/44        250        218
  Emera US Finance LP  4.750% 6/15/46      1,785      1,389
  Enel Americas SA  4.000% 10/25/26        700        664
  Enel Chile SA  4.875% 6/12/28        600        584
  Entergy Arkansas LLC  3.500% 4/1/26        150        144
  Entergy Arkansas LLC  4.200% 4/1/49        500        413
  Entergy Arkansas LLC  3.350% 6/15/52        800        561
  Entergy Corp.  0.900% 9/15/25        500        446
  Entergy Corp.  2.950% 9/1/26        530        493
  Entergy Corp.  1.900% 6/15/28        500        423
  Entergy Corp.  2.800% 6/15/30        500        421
  Entergy Corp.  2.400% 6/15/31        500        396
  Entergy Corp.  3.750% 6/15/50      1,400      1,036
  Entergy Louisiana LLC  0.950% 10/1/24        700        652
  Entergy Louisiana LLC  5.590% 10/1/24      1,417      1,426
  Entergy Louisiana LLC  5.400% 11/1/24        238        240
  Entergy Louisiana LLC  2.400% 10/1/26        200        182
  Entergy Louisiana LLC  3.120% 9/1/27        350        323
  Entergy Louisiana LLC  3.250% 4/1/28        300        273
  Entergy Louisiana LLC  3.050% 6/1/31        375        321
  Entergy Louisiana LLC  2.350% 6/15/32        500        398
  Entergy Louisiana LLC  4.000% 3/15/33        725        654
  Entergy Louisiana LLC  3.100% 6/15/41        500        371
  Entergy Louisiana LLC  4.950% 1/15/45        400        357
  Entergy Louisiana LLC  4.200% 9/1/48      1,150        947
  Entergy Louisiana LLC  4.200% 4/1/50        500        407
  Entergy Louisiana LLC  2.900% 3/15/51        700        454
  Entergy Louisiana LLC  4.750% 9/15/52        250        225
  Entergy Mississippi LLC  2.850% 6/1/28        750        666
  Entergy Mississippi LLC  3.850% 6/1/49        250        192
  Entergy Texas Inc.  1.750% 3/15/31        500        391
  Entergy Texas Inc.  3.550% 9/30/49        905        654
  Essential Utilities Inc.  3.566% 5/1/29        275        247
  Essential Utilities Inc.  2.704% 4/15/30        400        335
  Essential Utilities Inc.  4.276% 5/1/49        435        352
  Essential Utilities Inc.  3.351% 4/15/50        600        412
  Essential Utilities Inc.  5.300% 5/1/52        500        471
  Evergy Inc.  2.450% 9/15/24      1,450      1,378
  Evergy Inc.  2.900% 9/15/29      1,450      1,253
  Evergy Kansas Central Inc.  2.550% 7/1/26        575        529
  Evergy Kansas Central Inc.  3.100% 4/1/27        425        396
  Evergy Kansas Central Inc.  4.125% 3/1/42        425        353
  Evergy Kansas Central Inc.  4.100% 4/1/43        325        268
  Evergy Kansas Central Inc.  4.250% 12/1/45        100         81
  Evergy Kansas Central Inc.  3.250% 9/1/49      1,000        696
7 Evergy Metro Inc.  2.250% 6/1/30        300        247
  Evergy Metro Inc.  5.300% 10/1/41        480        460
  Evergy Metro Inc.  4.200% 6/15/47        225        183
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Eversource Energy  2.900% 10/1/24        275        265
7 Eversource Energy  3.150% 1/15/25      1,475      1,420
7 Eversource Energy  0.800% 8/15/25        500        446
7 Eversource Energy  3.300% 1/15/28        200        184
7 Eversource Energy  4.250% 4/1/29        325        307
7 Eversource Energy  1.650% 8/15/30      1,300      1,011
  Eversource Energy  2.550% 3/15/31        500        412
  Eversource Energy  3.375% 3/1/32        564        490
  Eversource Energy  3.450% 1/15/50        500        366
7 Exelon Corp.  3.950% 6/15/25        637        622
  Exelon Corp.  3.400% 4/15/26      3,500      3,326
10 Exelon Corp.  2.750% 3/15/27        500        459
  Exelon Corp.  4.050% 4/15/30        975        908
10 Exelon Corp.  3.350% 3/15/32        600        523
7 Exelon Corp.  4.950% 6/15/35        800        765
  Exelon Corp.  5.625% 6/15/35        415        423
  Exelon Corp.  4.450% 4/15/46        500        424
  Exelon Corp.  4.700% 4/15/50      2,200      1,932
  Florida Power & Light Co.  2.850% 4/1/25      1,984      1,901
  Florida Power & Light Co.  3.125% 12/1/25        500        483
  Florida Power & Light Co.  2.450% 2/3/32        700        585
  Florida Power & Light Co.  5.625% 4/1/34        225        234
  Florida Power & Light Co.  4.950% 6/1/35         50         49
  Florida Power & Light Co.  5.650% 2/1/37        425        434
  Florida Power & Light Co.  5.950% 2/1/38        175        186
  Florida Power & Light Co.  5.960% 4/1/39        225        240
  Florida Power & Light Co.  4.125% 2/1/42      1,675      1,451
  Florida Power & Light Co.  4.050% 6/1/42        475        409
  Florida Power & Light Co.  3.800% 12/15/42        375        310
  Florida Power & Light Co.  4.050% 10/1/44        450        382
  Florida Power & Light Co.  3.700% 12/1/47        550        444
  Florida Power & Light Co.  3.950% 3/1/48        800        664
  Florida Power & Light Co.  3.150% 10/1/49      1,190        864
  Florida Power & Light Co.  2.875% 12/4/51      2,000      1,362
  Fortis Inc.  3.055% 10/4/26        847        787
7 Georgia Power Co.  2.200% 9/15/24        395        376
  Georgia Power Co.  3.250% 4/1/26        256        242
  Georgia Power Co.  3.250% 3/30/27        550        508
7 Georgia Power Co.  2.650% 9/15/29        250        213
7 Georgia Power Co.  4.750% 9/1/40        625        566
  Georgia Power Co.  4.300% 3/15/42        575        493
  Georgia Power Co.  4.300% 3/15/43        250        209
7 Georgia Power Co.  3.700% 1/30/50        250        187
7 Georgia Power Co.  3.250% 3/15/51        500        345
7 Gulf Power Co.  3.300% 5/30/27        250        236
  Iberdrola International BV  6.750% 7/15/36        175        186
7 Idaho Power Co.  4.200% 3/1/48        404        332
  Indiana Michigan Power Co.  3.850% 5/15/28      1,000        943
  Indiana Michigan Power Co.  6.050% 3/15/37        700        728
7 Indiana Michigan Power Co.  4.550% 3/15/46      1,300      1,090
7 Indiana Michigan Power Co.  3.750% 7/1/47        550        407
  Indiana Michigan Power Co.  3.250% 5/1/51        500        342
  Interstate Power & Light Co.  3.250% 12/1/24      1,096      1,059
  Interstate Power & Light Co.  4.100% 9/26/28        450        428
  Interstate Power & Light Co.  3.600% 4/1/29        240        219
  Interstate Power & Light Co.  2.300% 6/1/30        300        244
  Interstate Power & Light Co.  6.250% 7/15/39        250        258
  Interstate Power & Light Co.  3.700% 9/15/46        406        294
  Interstate Power & Light Co.  3.100% 11/30/51        500        327
  IPALCO Enterprises Inc.  4.250% 5/1/30        400        356
  ITC Holdings Corp.  3.650% 6/15/24        300        293
  ITC Holdings Corp.  3.350% 11/15/27        400        368
  ITC Holdings Corp.  5.300% 7/1/43        900        804
7 John Sevier Combined Cycle Generation LLC  4.626% 1/15/42        146        137
  Kentucky Utilities Co.  5.125% 11/1/40        650        616
  Kentucky Utilities Co.  3.300% 6/1/50        500        354
 
97

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Louisville Gas & Electric Co.  3.300% 10/1/25      1,758      1,682
  MidAmerican Energy Co.  3.100% 5/1/27        450        422
  MidAmerican Energy Co.  6.750% 12/30/31        725        816
7 MidAmerican Energy Co.  5.800% 10/15/36        775        812
  MidAmerican Energy Co.  4.800% 9/15/43        300        281
  MidAmerican Energy Co.  4.400% 10/15/44        400        352
  MidAmerican Energy Co.  4.250% 5/1/46      1,000        848
  MidAmerican Energy Co.  3.650% 8/1/48        575        452
7 Mississippi Power Co.  4.250% 3/15/42        375        305
  National Fuel Gas Co.  5.500% 1/15/26        100        100
  National Fuel Gas Co.  3.950% 9/15/27        275        254
  National Fuel Gas Co.  4.750% 9/1/28        750        710
  National Fuel Gas Co.  2.950% 3/1/31        100         78
  National Grid USA  5.803% 4/1/35        250        233
  National Rural Utilities Cooperative Finance Corp.  2.950% 2/7/24      1,600      1,564
7 National Rural Utilities Cooperative Finance Corp.  3.450% 6/15/25        500        482
  National Rural Utilities Cooperative Finance Corp.  5.450% 10/30/25        500        507
7 National Rural Utilities Cooperative Finance Corp.  3.250% 11/1/25        475        452
  National Rural Utilities Cooperative Finance Corp.  1.000% 6/15/26      2,342      2,067
  National Rural Utilities Cooperative Finance Corp.  3.400% 2/7/28        500        464
  National Rural Utilities Cooperative Finance Corp.  4.800% 3/15/28        500        497
  National Rural Utilities Cooperative Finance Corp.  3.900% 11/1/28        250        235
  National Rural Utilities Cooperative Finance Corp.  3.700% 3/15/29      1,533      1,411
  National Rural Utilities Cooperative Finance Corp.  2.400% 3/15/30        425        353
7 National Rural Utilities Cooperative Finance Corp.  1.650% 6/15/31        500        381
  National Rural Utilities Cooperative Finance Corp.  4.023% 11/1/32      1,014        921
  National Rural Utilities Cooperative Finance Corp.  4.150% 12/15/32        248        229
  National Rural Utilities Cooperative Finance Corp.  5.800% 1/15/33        500        522
7 National Rural Utilities Cooperative Finance Corp.  5.250% 4/20/46        325        293
  National Rural Utilities Cooperative Finance Corp.  4.400% 11/1/48        800        669
  National Rural Utilities Cooperative Finance Corp.  4.300% 3/15/49        400        335
7 Nevada Power Co.  3.700% 5/1/29        500        471
7 Nevada Power Co.  2.400% 5/1/30        441        370
7 Nevada Power Co.  6.650% 4/1/36        410        448
7 Nevada Power Co.  3.125% 8/1/50        300        203
7 Nevada Power Co.  5.900% 5/1/53        500        536
  NextEra Energy Capital Holdings Inc.  2.940% 3/21/24      1,100      1,071
  NextEra Energy Capital Holdings Inc.  4.200% 6/20/24        400        395
  NextEra Energy Capital Holdings Inc.  4.255% 9/1/24      1,303      1,287
  NextEra Energy Capital Holdings Inc.  4.450% 6/20/25        400        396
  NextEra Energy Capital Holdings Inc.  3.550% 5/1/27        700        660
  NextEra Energy Capital Holdings Inc.  4.625% 7/15/27      1,089      1,074
  NextEra Energy Capital Holdings Inc.  1.900% 6/15/28      1,150        984
  NextEra Energy Capital Holdings Inc.  3.500% 4/1/29        350        318
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  NextEra Energy Capital Holdings Inc.  2.750% 11/1/29        300        260
  NextEra Energy Capital Holdings Inc.  2.250% 6/1/30      2,500      2,058
  NextEra Energy Capital Holdings Inc.  5.000% 7/15/32        863        849
7 NextEra Energy Capital Holdings Inc.  4.800% 12/1/77        450        369
7 NextEra Energy Capital Holdings Inc.  5.650% 5/1/79        300        273
  NiSource Inc.  0.950% 8/15/25        500        451
  NiSource Inc.  3.490% 5/15/27      1,100      1,037
  NiSource Inc.  2.950% 9/1/29      1,500      1,303
  NiSource Inc.  3.600% 5/1/30        500        446
  NiSource Inc.  1.700% 2/15/31        500        381
  NiSource Inc.  5.950% 6/15/41        382        386
  NiSource Inc.  4.800% 2/15/44        200        177
  NiSource Inc.  5.650% 2/1/45        500        490
  NiSource Inc.  4.375% 5/15/47      1,575      1,325
  NiSource Inc.  3.950% 3/30/48        500        390
  NiSource Inc.  5.000% 6/15/52        302        276
  Northern States Power Co.  2.250% 4/1/31        500        415
  Northern States Power Co.  6.250% 6/1/36        325        350
  Northern States Power Co.  6.200% 7/1/37        250        270
  Northern States Power Co.  5.350% 11/1/39        375        378
  Northern States Power Co.  3.400% 8/15/42        410        320
  Northern States Power Co.  4.000% 8/15/45        200        163
  Northern States Power Co.  2.900% 3/1/50      1,890      1,301
  Northern States Power Co.  2.600% 6/1/51        600        384
  Northern States Power Co.  3.200% 4/1/52        500        358
  Northern States Power Co.  4.500% 6/1/52        450        409
  NorthWestern Corp.  4.176% 11/15/44        250        203
  NSTAR Electric Co.  3.200% 5/15/27        550        517
  NSTAR Electric Co.  3.250% 5/15/29        300        273
  NSTAR Electric Co.  5.500% 3/15/40        540        544
  NSTAR Electric Co.  4.400% 3/1/44        223        195
  NSTAR Electric Co.  4.950% 9/15/52        350        340
  Oglethorpe Power Corp.  5.950% 11/1/39        100         96
  Oglethorpe Power Corp.  5.375% 11/1/40        630        570
10 Oglethorpe Power Corp.  4.500% 4/1/47        500        398
7 Ohio Power Co.  1.625% 1/15/31        500        387
  Ohio Power Co.  4.000% 6/1/49        500        396
  Oklahoma Gas & Electric Co.  3.800% 8/15/28        300        281
  Oklahoma Gas & Electric Co.  3.250% 4/1/30        200        174
  Oklahoma Gas & Electric Co.  4.150% 4/1/47        225        180
  Oklahoma Gas & Electric Co.  3.850% 8/15/47        250        188
  Oncor Electric Delivery Co. LLC  2.750% 6/1/24        400        387
  Oncor Electric Delivery Co. LLC  2.950% 4/1/25        275        264
  Oncor Electric Delivery Co. LLC  0.550% 10/1/25        950        847
  Oncor Electric Delivery Co. LLC  3.700% 11/15/28        150        142
  Oncor Electric Delivery Co. LLC  2.750% 5/15/30      1,250      1,089
10 Oncor Electric Delivery Co. LLC  4.550% 9/15/32        250        245
  Oncor Electric Delivery Co. LLC  7.250% 1/15/33      1,000      1,161
  Oncor Electric Delivery Co. LLC  5.250% 9/30/40        470        466
  Oncor Electric Delivery Co. LLC  4.550% 12/1/41        500        456
  Oncor Electric Delivery Co. LLC  5.300% 6/1/42        147        147
  Oncor Electric Delivery Co. LLC  3.750% 4/1/45        200        161
  Oncor Electric Delivery Co. LLC  3.800% 9/30/47        250        203
  Oncor Electric Delivery Co. LLC  4.100% 11/15/48        400        340
  Oncor Electric Delivery Co. LLC  3.800% 6/1/49      1,065        862
  Oncor Electric Delivery Co. LLC  3.700% 5/15/50        200        159
  Oncor Electric Delivery Co. LLC  2.700% 11/15/51      1,250        821
10 Oncor Electric Delivery Co. LLC  4.950% 9/15/52        500        486
  Oncor Electric Delivery Co. LLC  5.350% 10/1/52        253        258
  ONE Gas Inc.  1.100% 3/11/24        338        324
  ONE Gas Inc.  2.000% 5/15/30        200        162
  ONE Gas Inc.  4.658% 2/1/44        507        439
  Pacific Gas & Electric Co.  3.450% 7/1/25        500        474
 
98

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Pacific Gas & Electric Co.  3.150% 1/1/26      2,300      2,139
  Pacific Gas & Electric Co.  3.300% 12/1/27      2,200      1,945
  Pacific Gas & Electric Co.  3.000% 6/15/28        600        520
  Pacific Gas & Electric Co.  3.750% 7/1/28      1,700      1,512
  Pacific Gas & Electric Co.  4.550% 7/1/30      4,150      3,762
  Pacific Gas & Electric Co.  3.250% 6/1/31        500        406
  Pacific Gas & Electric Co.  4.400% 3/1/32        388        339
  Pacific Gas & Electric Co.  4.500% 7/1/40      2,300      1,800
  Pacific Gas & Electric Co.  4.200% 6/1/41        500        374
  Pacific Gas & Electric Co.  4.750% 2/15/44      1,500      1,167
  Pacific Gas & Electric Co.  4.300% 3/15/45      1,075        769
  Pacific Gas & Electric Co.  3.950% 12/1/47      1,500      1,016
  Pacific Gas & Electric Co.  4.950% 7/1/50      3,000      2,350
  Pacific Gas & Electric Co.  3.500% 8/1/50      1,500        944
  PacifiCorp  3.600% 4/1/24        500        491
  PacifiCorp  3.500% 6/15/29        600        553
  PacifiCorp  2.700% 9/15/30      2,800      2,406
  PacifiCorp  5.250% 6/15/35        475        467
  PacifiCorp  6.100% 8/1/36        525        541
  PacifiCorp  5.750% 4/1/37        410        417
  PacifiCorp  6.250% 10/15/37        625        664
  PacifiCorp  6.350% 7/15/38        250        269
  PacifiCorp  4.125% 1/15/49        525        432
  PacifiCorp  3.300% 3/15/51        525        378
  PacifiCorp  2.900% 6/15/52      3,700      2,435
  PacifiCorp  5.350% 12/1/53        650        650
  PECO Energy Co.  3.000% 9/15/49      1,000        686
  PECO Energy Co.  2.800% 6/15/50      1,000        660
  PECO Energy Co.  3.050% 3/15/51        500        343
  PECO Energy Co.  2.850% 9/15/51        500        332
  PECO Energy Co.  4.600% 5/15/52        500        452
7 PG&E Energy Recovery Funding LLC  1.460% 7/15/31        279        244
7 PG&E Energy Recovery Funding LLC  2.280% 1/15/36        100         77
7 PG&E Energy Recovery Funding LLC  2.822% 7/15/46        350        247
7 PG&E Wildfire Recovery Funding LLC  3.594% 6/1/30        587        557
7 PG&E Wildfire Recovery Funding LLC  4.022% 6/1/31        250        240
7 PG&E Wildfire Recovery Funding LLC  4.263% 6/1/36        250        234
7 PG&E Wildfire Recovery Funding LLC  4.722% 6/1/37        375        362
7 PG&E Wildfire Recovery Funding LLC  5.081% 6/1/41        300        291
7 PG&E Wildfire Recovery Funding LLC  4.451% 12/1/47      1,175      1,034
7 PG&E Wildfire Recovery Funding LLC  5.212% 12/1/47        500        484
7 PG&E Wildfire Recovery Funding LLC  4.674% 12/1/51        250        222
7 PG&E Wildfire Recovery Funding LLC  5.099% 6/1/52        350        333
  Piedmont Natural Gas Co. Inc.  3.500% 6/1/29        380        349
  Piedmont Natural Gas Co. Inc.  2.500% 3/15/31        500        408
  Piedmont Natural Gas Co. Inc.  4.650% 8/1/43        150        130
  Piedmont Natural Gas Co. Inc.  3.640% 11/1/46        350        252
  Piedmont Natural Gas Co. Inc.  3.350% 6/1/50        800        544
  Pinnacle West Capital Corp.  1.300% 6/15/25        700        638
  Potomac Electric Power Co.  6.500% 11/15/37        400        438
  Potomac Electric Power Co.  4.150% 3/15/43        550        464
  PPL Capital Funding Inc.  3.100% 5/15/26        600        561
  PPL Electric Utilities Corp.  6.250% 5/15/39        300        322
  PPL Electric Utilities Corp.  4.125% 6/15/44        700        588
  PPL Electric Utilities Corp.  4.150% 10/1/45        300        248
  PPL Electric Utilities Corp.  3.950% 6/1/47        350        285
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  PPL Electric Utilities Corp.  4.150% 6/15/48        300        253
  Progress Energy Inc.  7.750% 3/1/31        510        578
  Progress Energy Inc.  7.000% 10/30/31        200        218
  Progress Energy Inc.  6.000% 12/1/39        480        486
  Public Service Co. of Colorado  3.700% 6/15/28        300        286
7 Public Service Co. of Colorado  1.900% 1/15/31        300        241
  Public Service Co. of Colorado  1.875% 6/15/31        700        557
7 Public Service Co. of Colorado  4.100% 6/1/32        300        282
  Public Service Co. of Colorado  3.600% 9/15/42        225        178
  Public Service Co. of Colorado  4.300% 3/15/44        700        596
  Public Service Co. of Colorado  4.100% 6/15/48        300        249
7 Public Service Co. of Colorado  3.200% 3/1/50      1,300        932
7 Public Service Co. of Colorado  2.700% 1/15/51        200        129
7 Public Service Co. of Colorado  4.500% 6/1/52        400        358
  Public Service Co. of New Hampshire  3.600% 7/1/49        250        193
7 Public Service Electric & Gas Co.  3.000% 5/15/25        500        479
7 Public Service Electric & Gas Co.  0.950% 3/15/26        500        444
7 Public Service Electric & Gas Co.  3.000% 5/15/27        250        234
7 Public Service Electric & Gas Co.  3.200% 5/15/29        300        272
7 Public Service Electric & Gas Co.  2.450% 1/15/30        200        171
7 Public Service Electric & Gas Co.  3.100% 3/15/32        500        438
7 Public Service Electric & Gas Co.  4.900% 12/15/32        500        501
7 Public Service Electric & Gas Co.  3.950% 5/1/42        525        440
7 Public Service Electric & Gas Co.  3.800% 3/1/46      1,000        798
7 Public Service Electric & Gas Co.  3.600% 12/1/47        275        210
7 Public Service Electric & Gas Co.  3.850% 5/1/49        350        279
7 Public Service Electric & Gas Co.  3.150% 1/1/50        750        530
7 Public Service Electric & Gas Co.  2.700% 5/1/50        850        553
7 Public Service Electric & Gas Co.  2.050% 8/1/50        500        279
7 Public Service Electric & Gas Co.  3.000% 3/1/51        500        341
  Public Service Enterprise Group Inc.  0.800% 8/15/25        400        359
  Public Service Enterprise Group Inc.  5.850% 11/15/27        500        515
  Public Service Enterprise Group Inc.  1.600% 8/15/30        750        583
  Puget Energy Inc.  3.650% 5/15/25        300        286
  Puget Energy Inc.  2.379% 6/15/28         85         72
  Puget Energy Inc.  4.100% 6/15/30        400        358
  Puget Energy Inc.  4.224% 3/15/32        400        356
  Puget Sound Energy Inc.  6.274% 3/15/37        450        462
  Puget Sound Energy Inc.  5.757% 10/1/39        495        495
  Puget Sound Energy Inc.  5.638% 4/15/41        390        382
  Puget Sound Energy Inc.  4.300% 5/20/45      1,050        854
  Puget Sound Energy Inc.  4.223% 6/15/48        500        409
  San Diego Gas & Electric Co.  2.500% 5/15/26        350        325
7 San Diego Gas & Electric Co.  1.700% 10/1/30        500        396
7 San Diego Gas & Electric Co.  3.000% 3/15/32        500        428
  San Diego Gas & Electric Co.  6.000% 6/1/39        250        261
  San Diego Gas & Electric Co.  4.500% 8/15/40        505        455
7 San Diego Gas & Electric Co.  3.750% 6/1/47        325        255
  San Diego Gas & Electric Co.  4.150% 5/15/48        325        273
7 San Diego Gas & Electric Co.  3.320% 4/15/50        800        575
  San Diego Gas & Electric Co.  3.700% 3/15/52        500        395
7 SCE Recovery Funding LLC  2.943% 11/15/42        225        177
  Sempra Energy  3.300% 4/1/25        700        672
  Sempra Energy  3.250% 6/15/27      1,575      1,456
  Sempra Energy  3.400% 2/1/28      1,650      1,533
  Sempra Energy  3.700% 4/1/29        500        456
  Sempra Energy  3.800% 2/1/38        900        738
  Sempra Energy  6.000% 10/15/39      1,705      1,731
  Sempra Energy  4.000% 2/1/48        400        314
  Sempra Energy  4.125% 4/1/52        950        748
  Sierra Pacific Power Co.  2.600% 5/1/26        600        556
  Southern California Edison Co.  1.100% 4/1/24        500        475
7 Southern California Edison Co.  0.975% 8/1/24        500        468
 
99

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Southern California Edison Co.  3.700% 8/1/25        700        678
7 Southern California Edison Co.  1.200% 2/1/26        500        443
  Southern California Edison Co.  5.850% 11/1/27        500        516
7 Southern California Edison Co.  3.650% 3/1/28      1,407      1,314
7 Southern California Edison Co.  4.200% 3/1/29        200        190
  Southern California Edison Co.  6.650% 4/1/29        850        876
  Southern California Edison Co.  2.850% 8/1/29        825        717
  Southern California Edison Co.  2.250% 6/1/30        300        248
7 Southern California Edison Co.  2.500% 6/1/31        500        412
  Southern California Edison Co.  2.750% 2/1/32        330        276
  Southern California Edison Co.  5.950% 11/1/32        500        529
7 Southern California Edison Co.  5.750% 4/1/35        508        509
7 Southern California Edison Co.  5.350% 7/15/35      1,135      1,096
  Southern California Edison Co.  5.625% 2/1/36        500        488
  Southern California Edison Co.  5.500% 3/15/40        400        387
  Southern California Edison Co.  4.500% 9/1/40        505        431
  Southern California Edison Co.  4.050% 3/15/42      1,945      1,553
7 Southern California Edison Co.  3.900% 3/15/43        475        367
7 Southern California Edison Co.  3.600% 2/1/45        150        108
  Southern California Edison Co.  4.000% 4/1/47      1,920      1,508
7 Southern California Edison Co.  4.125% 3/1/48        970        775
7 Southern California Edison Co.  4.875% 3/1/49        400        353
  Southern California Edison Co.  3.650% 2/1/50      1,300        956
7 Southern California Edison Co.  2.950% 2/1/51        500        321
7 Southern California Edison Co.  3.650% 6/1/51        500        367
  Southern California Edison Co.  3.450% 2/1/52        500        357
  Southern California Gas Co.  3.150% 9/15/24        425        414
7 Southern California Gas Co.  2.600% 6/15/26        725        672
  Southern California Gas Co.  2.950% 4/15/27        600        554
7 Southern California Gas Co.  2.550% 2/1/30        450        383
  Southern California Gas Co.  3.750% 9/15/42        330        259
7 Southern California Gas Co.  4.125% 6/1/48        325        261
7 Southern California Gas Co.  4.300% 1/15/49        500        413
7 Southern California Gas Co.  3.950% 2/15/50        250        195
  Southern California Gas Co.  6.350% 11/15/52        500        551
7 Southern Co.  0.600% 2/26/24        500        474
  Southern Co.  4.475% 8/1/24        600        592
  Southern Co.  5.150% 10/6/25        500        504
  Southern Co.  3.250% 7/1/26        500        471
  Southern Co.  5.113% 8/1/27        500        499
7 Southern Co.  1.750% 3/15/28        500        421
  Southern Co.  5.700% 10/15/32        500        511
  Southern Co.  4.250% 7/1/36        575        502
  Southern Co.  4.400% 7/1/46      1,135        949
7 Southern Co.  4.000% 1/15/51      1,200      1,091
7 Southern Co.  3.750% 9/15/51        900        728
  Southern Co. Gas Capital Corp.  3.250% 6/15/26        375        350
7 Southern Co. Gas Capital Corp.  1.750% 1/15/31      1,000        764
  Southern Co. Gas Capital Corp.  5.150% 9/15/32        431        423
  Southern Co. Gas Capital Corp.  5.875% 3/15/41        125        124
  Southern Co. Gas Capital Corp.  4.400% 6/1/43        525        431
  Southern Co. Gas Capital Corp.  3.950% 10/1/46        975        734
  Southern Co. Gas Capital Corp.  4.400% 5/30/47        500        399
  Southern Power Co.  4.150% 12/1/25        375        368
  Southern Power Co.  5.150% 9/15/41        506        457
  Southern Power Co.  5.250% 7/15/43        500        449
7 Southern Power Co.  4.950% 12/15/46        300        256
  Southwest Gas Corp.  5.800% 12/1/27        500        509
  Southwest Gas Corp.  3.700% 4/1/28        450        412
  Southwest Gas Corp.  4.050% 3/15/32        450        395
  Southwest Gas Corp.  3.800% 9/29/46        250        173
  Southwest Gas Corp.  4.150% 6/1/49        200        144
7 Southwestern Electric Power Co.  1.650% 3/15/26        500        448
7 Southwestern Electric Power Co.  2.750% 10/1/26        300        275
7 Southwestern Electric Power Co.  4.100% 9/15/28        550        522
  Southwestern Electric Power Co.  6.200% 3/15/40        300        306
7 Southwestern Electric Power Co.  3.900% 4/1/45      1,000        763
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Southwestern Electric Power Co.  3.850% 2/1/48        375        278
  Southwestern Electric Power Co.  3.250% 11/1/51        500        331
  Southwestern Public Service Co.  3.300% 6/15/24      1,100      1,075
  Southwestern Public Service Co.  4.500% 8/15/41        345        302
  Southwestern Public Service Co.  3.400% 8/15/46        950        688
7 Southwestern Public Service Co.  4.400% 11/15/48      1,000        839
  Southwestern Public Service Co.  3.750% 6/15/49        259        198
7 Southwestern Public Service Co.  3.150% 5/1/50        800        556
  Tampa Electric Co.  3.875% 7/12/24        300        294
  Tampa Electric Co.  2.400% 3/15/31        500        405
  Tampa Electric Co.  4.350% 5/15/44        150        123
  Tampa Electric Co.  4.300% 6/15/48        300        241
  Tampa Electric Co.  3.625% 6/15/50        250        182
  Tampa Electric Co.  3.450% 3/15/51        500        352
  Tampa Electric Co.  5.000% 7/15/52        500        461
  Toledo Edison Co.  6.150% 5/15/37        250        258
  Tucson Electric Power Co.  3.050% 3/15/25        200        192
  Tucson Electric Power Co.  3.250% 5/15/32        500        426
  Tucson Electric Power Co.  4.850% 12/1/48        490        421
  Union Electric Co.  3.500% 4/15/24        990        971
  Union Electric Co.  2.950% 6/15/27        300        279
  Union Electric Co.  3.500% 3/15/29        350        324
  Union Electric Co.  2.950% 3/15/30        800        702
  Union Electric Co.  2.150% 3/15/32        500        395
  Union Electric Co.  3.900% 9/15/42        425        348
  Union Electric Co.  3.650% 4/15/45        575        442
  Union Electric Co.  4.000% 4/1/48      1,100        885
  Union Electric Co.  3.250% 10/1/49        100         71
  Union Electric Co.  2.625% 3/15/51        800        509
  Union Electric Co.  3.900% 4/1/52        500        406
  Virginia Electric & Power Co.  3.450% 2/15/24        250        246
7 Virginia Electric & Power Co.  3.100% 5/15/25        500        480
7 Virginia Electric & Power Co.  2.950% 11/15/26        300        280
7 Virginia Electric & Power Co.  3.500% 3/15/27      1,250      1,184
7 Virginia Electric & Power Co.  3.800% 4/1/28        525        496
  Virginia Electric & Power Co.  2.300% 11/15/31        500        403
  Virginia Electric & Power Co.  2.400% 3/30/32        550        445
7 Virginia Electric & Power Co.  6.000% 1/15/36        375        386
7 Virginia Electric & Power Co.  6.000% 5/15/37        500        517
  Virginia Electric & Power Co.  6.350% 11/30/37        375        398
  Virginia Electric & Power Co.  8.875% 11/15/38      1,200      1,574
  Virginia Electric & Power Co.  4.000% 1/15/43        500        407
7 Virginia Electric & Power Co.  4.650% 8/15/43        500        439
  Virginia Electric & Power Co.  4.450% 2/15/44      1,100        943
7 Virginia Electric & Power Co.  4.200% 5/15/45        302        246
7 Virginia Electric & Power Co.  4.000% 11/15/46        500        396
7 Virginia Electric & Power Co.  3.800% 9/15/47        425        327
  Virginia Electric & Power Co.  4.600% 12/1/48        550        480
  Virginia Electric & Power Co.  3.300% 12/1/49        400        287
  Virginia Electric & Power Co.  2.450% 12/15/50        776        463
  Virginia Electric & Power Co.  2.950% 11/15/51      1,000        663
7 Virginia Electric & Power Co.  4.625% 5/15/52        500        440
7 Washington Gas Light Co.  3.796% 9/15/46        350        263
7 Washington Gas Light Co.  3.650% 9/15/49        500        366
  WEC Energy Group Inc.  0.800% 3/15/24        500        474
  WEC Energy Group Inc.  5.000% 9/27/25        500        501
  WEC Energy Group Inc.  5.150% 10/1/27        500        506
  WEC Energy Group Inc.  1.375% 10/15/27        500        425
  WEC Energy Group Inc.  2.200% 12/15/28        500        423
  WEC Energy Group Inc.  1.800% 10/15/30      1,000        783
  Wisconsin Electric Power Co.  2.050% 12/15/24        300        284
  Wisconsin Electric Power Co.  1.700% 6/15/28        500        426
  Wisconsin Electric Power Co.  4.750% 9/30/32        431        423
  Wisconsin Electric Power Co.  5.625% 5/15/33        200        207
  Wisconsin Electric Power Co.  4.300% 10/15/48        250        205
  Wisconsin Power & Light Co.  6.375% 8/15/37        300        317
  Wisconsin Power & Light Co.  3.650% 4/1/50        250        184
 
100

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Wisconsin Public Service Corp.  5.350% 11/10/25        500        505
  Wisconsin Public Service Corp.  3.671% 12/1/42         75         57
  Wisconsin Public Service Corp.  2.850% 12/1/51        500        322
  Xcel Energy Inc.  3.300% 6/1/25        100         96
  Xcel Energy Inc.  1.750% 3/15/27        500        439
  Xcel Energy Inc.  4.000% 6/15/28        750        718
  Xcel Energy Inc.  2.600% 12/1/29        540        461
  Xcel Energy Inc.  3.400% 6/1/30        450        401
  Xcel Energy Inc.  2.350% 11/15/31        500        399
  Xcel Energy Inc.  6.500% 7/1/36        610        660
  Xcel Energy Inc.  3.500% 12/1/49        400        292
                                                  432,585
Total Corporate Bonds (Cost $5,947,418) 5,114,133
Sovereign Bonds (1.3%)
7 African Development Bank  0.875% 3/23/26      2,500      2,237
7 African Development Bank  0.875% 7/22/26      1,600      1,417
7 African Development Bank  4.375% 11/3/27        250        251
  Asian Development Bank  2.625% 1/30/24      3,400      3,322
7 Asian Development Bank  0.375% 6/11/24      8,000      7,522
7 Asian Development Bank  4.125% 9/27/24      1,400      1,388
7 Asian Development Bank  0.625% 10/8/24      3,500      3,265
  Asian Development Bank  1.500% 10/18/24      1,000        947
7 Asian Development Bank  2.000% 1/22/25      1,027        977
7 Asian Development Bank  2.125% 3/19/25        700        666
  Asian Development Bank  0.625% 4/29/25      2,000      1,834
7 Asian Development Bank  2.875% 5/6/25        630        608
7 Asian Development Bank  0.375% 9/3/25      6,129      5,515
7 Asian Development Bank  0.500% 2/4/26      4,000      3,557
7 Asian Development Bank  1.000% 4/14/26      3,000      2,696
7 Asian Development Bank  2.000% 4/24/26        400        371
7 Asian Development Bank  1.750% 8/14/26      1,841      1,687
7 Asian Development Bank  2.625% 1/12/27        800        754
7 Asian Development Bank  1.500% 1/20/27      3,525      3,173
7 Asian Development Bank  2.500% 11/2/27      2,985      2,764
7 Asian Development Bank  2.750% 1/19/28      1,000        935
7 Asian Development Bank  1.250% 6/9/28        500        429
7 Asian Development Bank  3.125% 9/26/28      1,600      1,515
7 Asian Development Bank  1.750% 9/19/29        200        172
7 Asian Development Bank  1.875% 1/24/30      1,000        861
7 Asian Development Bank  0.750% 10/8/30      1,500      1,167
7 Asian Development Bank  1.500% 3/4/31      3,000      2,463
  Asian Development Bank  3.125% 4/27/32      2,500      2,318
7 Asian Development Bank  3.875% 9/28/32        900        886
  Asian Infrastructure Investment Bank  2.250% 5/16/24      3,800      3,670
  Asian Infrastructure Investment Bank  0.500% 5/28/25      1,000        908
  Asian Infrastructure Investment Bank  3.375% 6/29/25      1,500      1,457
  Asian Infrastructure Investment Bank  0.500% 1/27/26      2,700      2,387
  Canadian Government Bond  1.625% 1/22/25      2,290      2,165
  Canadian Government Bond  2.875% 4/28/25      2,515      2,430
  Canadian Government Bond  0.750% 5/19/26      5,200      4,626
  Corp. Andina de Fomento  1.250% 10/26/24      1,900      1,765
  Corp. Andina de Fomento  1.625% 9/23/25        600        547
  Corp. Andina de Fomento  5.250% 11/21/25      2,160      2,154
  Corp. Andina de Fomento  2.250% 2/8/27        620        556
  Council of Europe Development Bank  2.500% 2/27/24         50         49
  Council of Europe Development Bank  0.375% 6/10/24        565        531
  Council of Europe Development Bank  1.375% 2/27/25        850        796
  Council of Europe Development Bank  3.000% 6/16/25        540        522
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Council of Europe Development Bank  0.875% 9/22/26      1,000        882
  Equinor ASA  2.650% 1/15/24      3,240      3,162
  Equinor ASA  3.250% 11/10/24        550        536
  Equinor ASA  3.000% 4/6/27        941        879
  Equinor ASA  3.625% 9/10/28      1,200      1,137
  Equinor ASA  3.125% 4/6/30        500        450
  Equinor ASA  2.375% 5/22/30      1,500      1,277
  Equinor ASA  5.100% 8/17/40      2,100      2,063
  Equinor ASA  4.250% 11/23/41        325        286
  Equinor ASA  3.950% 5/15/43        175        146
  Equinor ASA  4.800% 11/8/43      1,015        954
  Equinor ASA  3.250% 11/18/49        750        548
  Equinor ASA  3.700% 4/6/50      2,360      1,883
  European Bank for Reconstruction & Development  1.625% 9/27/24        500        475
7 European Bank for Reconstruction & Development  1.500% 2/13/25        100         94
  European Bank for Reconstruction & Development  0.500% 5/19/25        700        638
7 European Bank for Reconstruction & Development  0.500% 11/25/25      1,600      1,433
7 European Bank for Reconstruction & Development  0.500% 1/28/26      2,000      1,780
  European Investment Bank  3.250% 1/29/24      3,210      3,158
  European Investment Bank  2.625% 3/15/24      3,660      3,569
  European Investment Bank  2.250% 6/24/24      2,010      1,941
  European Investment Bank  0.375% 7/24/24      3,000      2,811
  European Investment Bank  2.500% 10/15/24        864        834
  European Investment Bank  1.875% 2/10/25      4,413      4,187
  European Investment Bank  1.625% 3/14/25      5,000      4,712
  European Investment Bank  0.625% 7/25/25      3,700      3,369
  European Investment Bank  2.750% 8/15/25      3,000      2,883
  European Investment Bank  0.375% 12/15/25      5,500      4,904
  European Investment Bank  0.375% 3/26/26      5,000      4,412
  European Investment Bank  2.125% 4/13/26      1,000        934
  European Investment Bank  0.750% 10/26/26      1,950      1,712
7 European Investment Bank  1.375% 3/15/27      2,775      2,482
  European Investment Bank  2.375% 5/24/27      5,166      4,805
  European Investment Bank  0.625% 10/21/27        500        424
  European Investment Bank  3.250% 11/15/27      2,500      2,404
  European Investment Bank  1.625% 10/9/29        350        300
  European Investment Bank  0.875% 5/17/30        400        319
  European Investment Bank  0.750% 9/23/30      1,200        940
  European Investment Bank  1.250% 2/14/31      3,000      2,441
  European Investment Bank  4.875% 2/15/36      1,300      1,385
11 Export Development Canada  2.625% 2/21/24      1,800      1,757
11 Export Development Canada  3.375% 8/26/25      2,400      2,338
11 Export Development Canada  3.000% 5/25/27      1,700      1,618
  Export-Import Bank of Korea  4.000% 1/14/24      2,100      2,080
  Export-Import Bank of Korea  0.375% 2/9/24        500        476
  Export-Import Bank of Korea  4.000% 9/15/24      2,500      2,458
  Export-Import Bank of Korea  3.250% 11/10/25        300        285
  Export-Import Bank of Korea  0.625% 2/9/26        500        441
  Export-Import Bank of Korea  2.625% 5/26/26        925        863
  Export-Import Bank of Korea  1.125% 12/29/26        205        178
  Export-Import Bank of Korea  1.625% 1/18/27        400        353
  Export-Import Bank of Korea  2.375% 4/21/27      1,020        921
  Export-Import Bank of Korea  4.250% 9/15/27        650        634
  Export-Import Bank of Korea  1.250% 9/21/30      1,600      1,227
  Export-Import Bank of Korea  1.375% 2/9/31        500        382
  Export-Import Bank of Korea  2.125% 1/18/32        650        521
  Export-Import Bank of Korea  4.500% 9/15/32        500        487
  Export-Import Bank of Korea  2.500% 6/29/41        875        609
7 Hydro-Quebec  8.050% 7/7/24      2,665      2,785
  Inter-American Development Bank  2.625% 1/16/24      4,500      4,399
 
101

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Inter-American Development Bank  3.000% 2/21/24      3,700      3,626
  Inter-American Development Bank  3.250% 7/1/24      2,000      1,959
  Inter-American Development Bank  0.500% 9/23/24      3,500      3,263
  Inter-American Development Bank  2.125% 1/15/25      1,000        954
7 Inter-American Development Bank  1.750% 3/14/25        500        472
  Inter-American Development Bank  0.875% 4/3/25      1,000        924
  Inter-American Development Bank  7.000% 6/15/25        250        264
  Inter-American Development Bank  0.625% 7/15/25      5,100      4,644
7 Inter-American Development Bank  0.875% 4/20/26      4,000      3,578
7 Inter-American Development Bank  2.000% 6/2/26      1,915      1,772
  Inter-American Development Bank  2.000% 7/23/26      1,615      1,492
  Inter-American Development Bank  2.375% 7/7/27        800        741
  Inter-American Development Bank  0.625% 9/16/27      3,700      3,141
  Inter-American Development Bank  1.125% 7/20/28      2,000      1,698
  Inter-American Development Bank  3.125% 9/18/28      2,200      2,079
  Inter-American Development Bank  2.250% 6/18/29      1,000        892
7 Inter-American Development Bank  1.125% 1/13/31      3,500      2,796
7 Inter-American Development Bank  3.875% 10/28/41      1,600      1,480
  Inter-American Development Bank  3.200% 8/7/42        550        458
  Inter-American Development Bank  4.375% 1/24/44        450        442
  International Bank for Reconstruction & Development  2.500% 3/19/24      3,600      3,504
7 International Bank for Reconstruction & Development  1.500% 8/28/24      1,270      1,207
7 International Bank for Reconstruction & Development  2.500% 11/25/24      5,500      5,293
  International Bank for Reconstruction & Development  1.625% 1/15/25      2,000      1,891
  International Bank for Reconstruction & Development  0.625% 4/22/25      4,500      4,128
  International Bank for Reconstruction & Development  0.375% 7/28/25      5,000      4,519
7 International Bank for Reconstruction & Development  2.500% 7/29/25      4,600      4,391
  International Bank for Reconstruction & Development  0.500% 10/28/25      6,000      5,391
7 International Bank for Reconstruction & Development  3.125% 11/20/25      2,000      1,933
  International Bank for Reconstruction & Development  0.875% 7/15/26      2,275      2,023
7 International Bank for Reconstruction & Development  1.875% 10/27/26        356        326
  International Bank for Reconstruction & Development  3.125% 6/15/27      6,250      5,989
  International Bank for Reconstruction & Development  0.750% 11/24/27      2,500      2,124
  International Bank for Reconstruction & Development  1.125% 9/13/28      4,625      3,919
  International Bank for Reconstruction & Development  3.625% 9/21/29        500        485
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 International Bank for Reconstruction & Development  1.750% 10/23/29      1,500      1,290
  International Bank for Reconstruction & Development  0.875% 5/14/30      1,000        795
  International Bank for Reconstruction & Development  0.750% 8/26/30      4,250      3,313
  International Bank for Reconstruction & Development  1.250% 2/10/31      6,000      4,845
  International Bank for Reconstruction & Development  1.625% 11/3/31      8,500      6,975
  International Bank for Reconstruction & Development  2.500% 3/29/32      3,000      2,641
7 International Bank for Reconstruction & Development  4.750% 2/15/35        450        467
7 International Finance Corp.  1.375% 10/16/24      1,400      1,323
7 International Finance Corp.  0.375% 7/16/25      1,000        905
7 International Finance Corp.  2.125% 4/7/26      1,505      1,403
  International Finance Corp.  0.750% 8/27/30        800        625
12 Japan Bank for International Cooperation  3.250% 7/20/23      3,225      3,194
7,12 Japan Bank for International Cooperation  0.500% 4/15/24        700        661
7,12 Japan Bank for International Cooperation  2.500% 5/23/24        400        387
7,12 Japan Bank for International Cooperation  3.000% 5/29/24        650        632
7,12 Japan Bank for International Cooperation  1.750% 10/17/24        600        567
7,12 Japan Bank for International Cooperation  2.125% 2/10/25      2,400      2,273
12 Japan Bank for International Cooperation  2.875% 4/14/25      3,600      3,456
7,12 Japan Bank for International Cooperation  2.500% 5/28/25        500        475
12 Japan Bank for International Cooperation  0.625% 7/15/25      2,000      1,805
12 Japan Bank for International Cooperation  2.875% 6/1/27      1,500      1,396
12 Japan Bank for International Cooperation  2.875% 7/21/27        500        465
12 Japan Bank for International Cooperation  2.750% 11/16/27      2,200      2,023
12 Japan Bank for International Cooperation  3.250% 7/20/28      1,300      1,215
12 Japan Bank for International Cooperation  3.500% 10/31/28      1,500      1,414
12 Japan Bank for International Cooperation  2.125% 2/16/29      1,930      1,673
12 Japan Bank for International Cooperation  2.000% 10/17/29        300        254
12 Japan Bank for International Cooperation  1.250% 1/21/31      1,000        780
12 Japan Bank for International Cooperation  1.875% 4/15/31        500        408
12 Japan International Cooperation Agency  2.750% 4/27/27        700        648
12 Japan International Cooperation Agency  3.250% 5/25/27      3,000      2,832
12 Japan International Cooperation Agency  3.375% 6/12/28        550        517
12 Japan International Cooperation Agency  1.000% 7/22/30        200        153
12 Japan International Cooperation Agency  1.750% 4/28/31        500        402
13 KFW  2.625% 2/28/24      3,000      2,926
13 KFW  0.250% 3/8/24      2,500      2,370
13 KFW  1.375% 8/5/24        500        475
13 KFW  0.500% 9/20/24      3,600      3,357
13 KFW  2.500% 11/20/24      5,750      5,532
13 KFW  1.250% 1/31/25      4,025      3,768
 
102

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
13 KFW  2.000% 5/2/25      1,250      1,183
13 KFW  0.375% 7/18/25      6,000      5,427
13 KFW  0.625% 1/22/26      4,000      3,581
13 KFW  1.000% 10/1/26      9,000      7,994
13 KFW  3.000% 5/20/27        585        558
13 KFW  2.875% 4/3/28      2,300      2,163
13 KFW  1.750% 9/14/29        900        778
13 KFW  0.750% 9/30/30      2,000      1,562
13 KFW  0.000% 4/18/36        600        343
13 KFW  0.000% 6/29/37      1,700        931
  Korea Development Bank  3.750% 1/22/24      1,500      1,482
  Korea Development Bank  2.125% 10/1/24        400        381
  Korea Development Bank  0.750% 1/25/25        650        596
  Korea Development Bank  1.375% 4/25/27        500        432
  Korea Development Bank  1.625% 1/19/31      1,000        786
  Korea Development Bank  2.000% 10/25/31        500        398
13 Landwirtschaftliche Rentenbank  2.000% 1/13/25      2,500      2,380
7,13 Landwirtschaftliche Rentenbank  0.500% 5/27/25        500        456
13 Landwirtschaftliche Rentenbank  2.375% 6/10/25        975        929
13 Landwirtschaftliche Rentenbank  0.875% 3/30/26      2,400      2,148
7,13 Landwirtschaftliche Rentenbank  1.750% 7/27/26        825        755
7,13 Landwirtschaftliche Rentenbank  2.500% 11/15/27      1,595      1,477
13 Landwirtschaftliche Rentenbank  0.875% 9/3/30      1,000        787
  Nordic Investment Bank  2.250% 5/21/24        600        580
  Nordic Investment Bank  0.375% 9/20/24        800        745
  Nordic Investment Bank  0.375% 9/11/25      1,500      1,348
7 Nordic Investment Bank  0.500% 1/21/26      1,000        890
14 Oesterreichische Kontrollbank AG  1.500% 2/12/25        500        470
14 Oesterreichische Kontrollbank AG  0.375% 9/17/25      1,500      1,346
7,14 Oesterreichische Kontrollbank AG  0.500% 2/2/26      2,200      1,954
14 Oesterreichische Kontrollbank AG  3.625% 9/9/27      2,000      1,949
7 Oriental Republic of Uruguay  4.375% 10/27/27        975        985
7 Oriental Republic of Uruguay  4.375% 1/23/31      2,302      2,288
7 Oriental Republic of Uruguay  5.750% 10/28/34      1,255      1,360
7 Oriental Republic of Uruguay  7.625% 3/21/36        485        615
7 Oriental Republic of Uruguay  4.125% 11/20/45      1,029        950
7 Oriental Republic of Uruguay  5.100% 6/18/50      2,535      2,491
7 Oriental Republic of Uruguay  4.975% 4/20/55      2,480      2,377
7,15 Petroleos Mexicanos  2.290% 2/15/24         30         29
15 Petroleos Mexicanos  2.378% 4/15/25         50         48
  Province of Alberta  2.950% 1/23/24        600        588
  Province of Alberta  1.875% 11/13/24      1,800      1,709
  Province of Alberta  1.000% 5/20/25        830        764
  Province of Alberta  3.300% 3/15/28      1,100      1,042
  Province of Alberta  1.300% 7/22/30      2,566      2,053
7 Province of British Columbia  1.750% 9/27/24        600        571
  Province of British Columbia  2.250% 6/2/26      1,707      1,589
  Province of British Columbia  0.900% 7/20/26      1,275      1,129
  Province of British Columbia  1.300% 1/29/31        500        399
7 Province of Manitoba  2.600% 4/16/24      1,250      1,215
  Province of Manitoba  3.050% 5/14/24        500        488
  Province of Manitoba  2.125% 6/22/26        850        785
  Province of New Brunswick  3.625% 2/24/28        500        481
  Province of Ontario  3.050% 1/29/24      2,000      1,962
  Province of Ontario  3.200% 5/16/24      1,000        978
  Province of Ontario  2.500% 4/27/26      1,000        937
  Province of Ontario  2.300% 6/15/26      2,000      1,857
  Province of Ontario  3.100% 5/19/27      4,025      3,816
  Province of Ontario  2.000% 10/2/29      1,700      1,462
  Province of Ontario  1.125% 10/7/30      2,800      2,200
  Province of Ontario  1.600% 2/25/31      5,000      4,055
  Province of Ontario  1.800% 10/14/31        500        406
7 Province of Quebec  7.125% 2/9/24      3,050      3,120
7 Province of Quebec  2.875% 10/16/24        700        679
7 Province of Quebec  1.500% 2/11/25        155        146
  Province of Quebec  0.600% 7/23/25      1,500      1,360
  Province of Quebec  2.500% 4/20/26        700        659
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Province of Quebec  2.750% 4/12/27      3,250      3,046
7 Province of Quebec  7.500% 9/15/29      1,075      1,262
  Province of Quebec  1.350% 5/28/30      1,200        971
  Province of Quebec  1.900% 4/21/31      7,500      6,214
  Province of Saskatchewan  3.250% 6/8/27        700        668
  Republic of Chile  3.125% 3/27/25        200        193
  Republic of Chile  3.125% 1/21/26        710        673
7 Republic of Chile  2.750% 1/31/27        600        552
7 Republic of Chile  3.240% 2/6/28      2,910      2,703
7 Republic of Chile  2.450% 1/31/31        921        765
7 Republic of Chile  2.550% 1/27/32        279        229
7 Republic of Chile  2.550% 7/27/33      2,709      2,125
7 Republic of Chile  3.500% 1/31/34      1,808      1,546
7 Republic of Chile  3.100% 5/7/41      2,440      1,756
7 Republic of Chile  4.340% 3/7/42        736        623
7 Republic of Chile  3.500% 1/25/50      1,915      1,390
7 Republic of Chile  4.000% 1/31/52      1,465      1,136
7 Republic of Chile  3.100% 1/22/61      1,250        780
7 Republic of Chile  3.250% 9/21/71        500        309
  Republic of Hungary  5.375% 3/25/24      1,600      1,598
  Republic of Hungary  7.625% 3/29/41      1,150      1,253
7 Republic of Indonesia  3.850% 7/18/27        200        193
  Republic of Indonesia  3.500% 1/11/28      1,300      1,235
  Republic of Indonesia  4.100% 4/24/28      1,000        983
  Republic of Indonesia  4.750% 2/11/29      1,350      1,352
  Republic of Indonesia  3.400% 9/18/29        200        184
  Republic of Indonesia  2.850% 2/14/30        350        314
  Republic of Indonesia  3.850% 10/15/30      2,100      1,981
  Republic of Indonesia  1.850% 3/12/31        600        487
7 Republic of Indonesia  2.150% 7/28/31      1,100        916
7 Republic of Indonesia  3.550% 3/31/32      1,250      1,136
  Republic of Indonesia  4.350% 1/11/48      2,075      1,788
  Republic of Indonesia  5.350% 2/11/49      1,500      1,465
  Republic of Indonesia  3.700% 10/30/49        825        638
  Republic of Indonesia  4.200% 10/15/50      2,205      1,824
  Republic of Indonesia  3.050% 3/12/51        850        616
7 Republic of Indonesia  4.300% 3/31/52        700        593
7 Republic of Indonesia  5.450% 9/20/52        200        198
7 Republic of Indonesia  3.200% 9/23/61        800        547
  Republic of Indonesia  4.450% 4/15/70        750        630
  Republic of Indonesia  3.350% 3/12/71        500        332
  Republic of Italy  0.875% 5/6/24      1,500      1,403
  Republic of Italy  2.375% 10/17/24      1,950      1,837
  Republic of Italy  1.250% 2/17/26      2,900      2,521
  Republic of Italy  2.875% 10/17/29      2,000      1,659
  Republic of Italy  5.375% 6/15/33      1,925      1,841
  Republic of Italy  4.000% 10/17/49      1,900      1,345
  Republic of Italy  3.875% 5/6/51      2,500      1,654
  Republic of Korea  2.750% 1/19/27      3,800      3,571
  Republic of Korea  2.500% 6/19/29        900        810
  Republic of Korea  1.000% 9/16/30      1,000        789
  Republic of Korea  1.750% 10/15/31        550        450
  Republic of Korea  4.125% 6/10/44        655        603
  Republic of Korea  3.875% 9/20/48        390        340
7 Republic of Panama  3.750% 3/16/25      1,450      1,402
  Republic of Panama  7.125% 1/29/26        358        379
  Republic of Panama  8.875% 9/30/27        368        424
7 Republic of Panama  3.875% 3/17/28      1,980      1,870
  Republic of Panama  9.375% 4/1/29      1,070      1,273
7 Republic of Panama  3.160% 1/23/30        400        344
7 Republic of Panama  2.252% 9/29/32      2,325      1,725
7 Republic of Panama  6.400% 2/14/35        700        712
7 Republic of Panama  6.700% 1/26/36      1,444      1,512
7 Republic of Panama  4.500% 5/15/47        200        154
7 Republic of Panama  4.500% 4/16/50      2,310      1,746
7 Republic of Panama  4.300% 4/29/53      1,250        910
7 Republic of Panama  4.500% 4/1/56      2,650      1,947
 
103

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 Republic of Panama  3.870% 7/23/60      3,680      2,381
7 Republic of Panama  4.500% 1/19/63      1,400        991
7 Republic of Peru  2.392% 1/23/26        600        554
  Republic of Peru  4.125% 8/25/27        250        240
7 Republic of Peru  2.783% 1/23/31      4,400      3,654
7 Republic of Peru  1.862% 12/1/32        900        658
  Republic of Peru  8.750% 11/21/33      2,535      3,097
7 Republic of Peru  3.000% 1/15/34      1,800      1,423
7 Republic of Peru  6.550% 3/14/37        600        635
7 Republic of Peru  3.300% 3/11/41        900        657
  Republic of Peru  5.625% 11/18/50      2,150      2,133
7 Republic of Peru  3.550% 3/10/51        500        357
7 Republic of Peru  2.780% 12/1/60      1,500        881
7 Republic of Peru  3.600% 1/15/72      1,800      1,176
7 Republic of Peru  3.230% 7/28/21      1,500        879
  Republic of Poland  4.000% 1/22/24        625        617
  Republic of Poland  3.250% 4/6/26      1,150      1,103
7 Republic of Poland  5.500% 11/16/27      1,000      1,027
7 Republic of Poland  5.750% 11/16/32        975      1,037
  Republic of the Philippines  4.200% 1/21/24      1,400      1,388
  Republic of the Philippines  9.500% 10/21/24        550        598
  Republic of the Philippines 10.625% 3/16/25        425        480
  Republic of the Philippines  5.500% 3/30/26      1,500      1,538
  Republic of the Philippines  3.229% 3/29/27        450        426
  Republic of the Philippines  5.170% 10/13/27        600        613
  Republic of the Philippines  3.000% 2/1/28      1,725      1,603
  Republic of the Philippines  3.750% 1/14/29      1,000        955
  Republic of the Philippines  9.500% 2/2/30      1,525      1,941
  Republic of the Philippines  2.457% 5/5/30      2,000      1,750
  Republic of the Philippines  7.750% 1/14/31        775        925
  Republic of the Philippines  1.648% 6/10/31        673        538
  Republic of the Philippines  1.950% 1/6/32        675        551
  Republic of the Philippines  6.375% 1/15/32        600        668
  Republic of the Philippines  3.556% 9/29/32      2,000      1,820
  Republic of the Philippines  5.609% 4/13/33        400        422
  Republic of the Philippines  6.375% 10/23/34      2,175      2,410
  Republic of the Philippines  5.000% 1/13/37        400        389
  Republic of the Philippines  3.950% 1/20/40      1,500      1,270
  Republic of the Philippines  3.700% 3/1/41      1,534      1,250
  Republic of the Philippines  3.700% 2/2/42      1,885      1,530
  Republic of the Philippines  2.950% 5/5/45      1,750      1,262
  Republic of the Philippines  2.650% 12/10/45      2,135      1,436
  Republic of the Philippines  3.200% 7/6/46      1,500      1,095
  Republic of the Philippines  4.200% 3/29/47        925        792
  Republic of the Philippines  5.950% 10/13/47        600        642
  State of Israel  2.875% 3/16/26      1,100      1,046
  State of Israel  3.250% 1/17/28        790        749
  State of Israel  2.500% 1/15/30        200        179
  State of Israel  2.750% 7/3/30      1,550      1,408
  State of Israel  4.500% 1/30/43      1,400      1,303
  State of Israel  4.125% 1/17/48        800        702
  State of Israel  3.375% 1/15/50      1,985      1,520
  State of Israel  3.875% 7/3/50      1,650      1,383
  State of Israel  4.500% 4/3/20        900        787
7 Svensk Exportkredit AB  0.375% 3/11/24        800        758
7 Svensk Exportkredit AB  0.375% 7/30/24        800        747
  Svensk Exportkredit AB  0.625% 10/7/24      1,000        931
7 Svensk Exportkredit AB  0.625% 5/14/25      2,500      2,281
  Svensk Exportkredit AB  0.500% 8/26/25      2,000      1,799
7 Svensk Exportkredit AB  4.625% 11/28/25      1,060      1,061
7 Svensk Exportkredit AB  2.250% 3/22/27      1,000        920
7 United Mexican States  3.900% 4/27/25      1,300      1,282
  United Mexican States  4.125% 1/21/26      2,968      2,894
  United Mexican States  4.150% 3/28/27      3,370      3,286
  United Mexican States  3.750% 1/11/28      1,175      1,111
  United Mexican States  4.500% 4/22/29      1,500      1,431
7 United Mexican States  3.250% 4/16/30      3,000      2,616
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
7 United Mexican States  2.659% 5/24/31      2,700      2,176
7 United Mexican States  8.300% 8/15/31      1,000      1,174
7 United Mexican States  4.750% 4/27/32        800        750
7 United Mexican States  7.500% 4/8/33        400        448
7 United Mexican States  4.875% 5/19/33        425        391
7 United Mexican States  3.500% 2/12/34      2,500      2,005
7 United Mexican States  6.750% 9/27/34        950        994
  United Mexican States  6.050% 1/11/40      2,321      2,251
7 United Mexican States  4.280% 8/14/41      5,241      4,052
7 United Mexican States  4.750% 3/8/44      3,022      2,441
  United Mexican States  5.550% 1/21/45        500        449
  United Mexican States  4.600% 1/23/46      2,530      1,968
  United Mexican States  4.350% 1/15/47      1,880      1,409
  United Mexican States  4.600% 2/10/48      3,510      2,717
7 United Mexican States  4.500% 1/31/50        600        457
7 United Mexican States  5.000% 4/27/51      2,500      2,034
7 United Mexican States  4.400% 2/12/52      2,700      1,986
7 United Mexican States  3.771% 5/24/61      3,725      2,366
7 United Mexican States  5.750% 10/12/10      2,114      1,782
Total Sovereign Bonds (Cost $697,229) 621,722
Taxable Municipal Bonds (0.3%)
  Alabama Economic Settlement Authority BP Settlement Revenue  3.163% 9/15/25        120        116
  Alabama Federal AID Highway Finance Authority SO Revenue  2.650% 9/1/37        325        242
  Alameda County CA Joint Powers Authority Lease Revenue  7.046% 12/1/44        100        120
  American Municipal Power Ohio Inc. Revenue (Hydroelectric Projects)  6.449% 2/15/44        225        242
  American Municipal Power Ohio Inc. Revenue (Prairie State Energy Campus Projects)  7.834% 2/15/41        100        122
  American Municipal Power Ohio Inc. Revenue (Prairie State Energy Campus Projects)  6.053% 2/15/43         50         53
  American Municipal Power Ohio Inc. Revenue (Prairie State Energy Campus Projects)  5.939% 2/15/47        925        962
  American Municipal Power Ohio Inc. Revenue (Prairie State Energy Campus Projects)  6.270% 2/15/50        155        164
  American Municipal Power Ohio Inc. Revenue (Prairie State Energy Campus Projects)  8.084% 2/15/50        375        482
  Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area)  2.574% 4/1/31        300        263
  Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area)  6.918% 4/1/40        375        438
  Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area)  6.263% 4/1/49        985      1,117
  Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area)  7.043% 4/1/50        125        154
  Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area)  6.907% 10/1/50        900      1,099
  Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area)  3.126% 4/1/55        700        467
  California GO  3.375% 4/1/25        426        415
  California GO  2.650% 4/1/26        250        235
  California GO  1.700% 2/1/28        350        301
  California GO  3.500% 4/1/28        400        375
  California GO  2.500% 10/1/29        590        509
 
104

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  California GO  1.750% 11/1/30        260        208
  California GO  4.500% 4/1/33        850        817
  California GO  7.500% 4/1/34      2,770      3,346
  California GO  4.600% 4/1/38      1,925      1,812
  California GO  7.550% 4/1/39      2,815      3,523
  California GO  7.300% 10/1/39      1,000      1,215
  California GO  7.350% 11/1/39        725        885
  California GO  7.625% 3/1/40      1,150      1,452
  California GO  7.600% 11/1/40      2,000      2,562
  California State University Systemwide Revenue  3.899% 11/1/47        250        212
  California State University Systemwide Revenue  2.897% 11/1/51        500        352
  California State University Systemwide Revenue  2.975% 11/1/51        465        322
  California State University Systemwide Revenue  2.719% 11/1/52        500        337
  California State University Systemwide Revenue  2.939% 11/1/52        500        338
  Central Puget Sound WA Regional Transit Authority Sales & Use Tax Revenue  5.491% 11/1/39        100        104
  Charlotte-Mecklenburg NC Hospital Authority Health Care System Revenue  3.204% 1/15/51        500        340
  Chicago IL GO Prere.  7.045% 1/1/23         20         20
  Chicago IL GO  7.045% 1/1/29        130        132
  Chicago IL Metropolitan Water Reclamation District GO  5.720% 12/1/38        500        528
  Chicago IL O'Hare International Airport Revenue  6.395% 1/1/40        405        453
  Chicago IL O'Hare International Airport Revenue  4.472% 1/1/49        325        286
  Chicago IL O'Hare International Airport Revenue  4.572% 1/1/54        340        300
  Chicago IL Transit Authority Sales & Transfer Tax Receipts Revenue  6.899% 12/1/40      1,500      1,663
  Clark County NV Airport System Revenue  6.820% 7/1/45        325        382
  Commonwealth Financing Authority Pennsylvania Revenue  3.864% 6/1/38        500        439
  Commonwealth Financing Authority Pennsylvania Revenue  4.144% 6/1/38        275        246
  Commonwealth Financing Authority Pennsylvania Revenue  3.807% 6/1/41        400        329
  Commonwealth of Massachusetts SO Revenue  3.769% 7/15/29        350        330
  Commonwealth of Massachusetts SO Revenue  4.110% 7/15/31        775        748
  Connecticut GO  5.090% 10/1/30        575        577
  Connecticut GO  5.850% 3/15/32        610        644
  Cook County IL GO  6.229% 11/15/34        400        431
  Dallas County TX Hospital District Revenue  5.621% 8/15/44        100        106
  Dallas TX Area Rapid Transit Revenue  5.999% 12/1/44        300        328
  Dallas TX Area Rapid Transit Revenue  5.022% 12/1/48         75         73
  Dallas TX Convention Center Hotel Development Corp. Hotel Revenue  7.088% 1/1/42        285        310
16 Dallas TX Independent School District GO  6.450% 2/15/35        150        150
  Dallas-Fort Worth TX International Airport Revenue  2.994% 11/1/38        875        711
  Dallas-Fort Worth TX International Airport Revenue  3.144% 11/1/45        325        244
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Dallas-Fort Worth TX International Airport Revenue  2.843% 11/1/46        450        323
  Dallas-Fort Worth TX International Airport Revenue  4.507% 11/1/51        800        719
  District of Columbia Income Tax Revenue (Federally Taxable-Build America Bonds)  5.591% 12/1/34         50         52
  District of Columbia Water & Sewer Authority Public Utility Revenue  4.814% 10/1/14        275        238
  East Bay CA Municipal Utility District Water System Revenue  5.874% 6/1/40        315        344
  Florida State Board of Administration Finance Corp. Revenue  1.258% 7/1/25      1,300      1,194
  Florida State Board of Administration Finance Corp. Revenue  1.705% 7/1/27        850        740
  Florida State Board of Administration Finance Corp. Revenue  2.154% 7/1/30      1,000        819
  Foothill-Eastern Transportation Corridor Agency CA Toll Road Revenue  4.094% 1/15/49        510        385
  Georgia Municipal Electric Power Authority Revenue  6.637% 4/1/57        588        629
  Georgia Municipal Electric Power Authority Revenue  6.655% 4/1/57      1,352      1,460
  Georgia Municipal Electric Power Authority Revenue  7.055% 4/1/57        144        146
  Georgia Water & Wastewater Revenue  2.257% 11/1/35        250        189
  Golden State Tobacco Securitization Corp. California Revenue  2.746% 6/1/34        425        341
  Golden State Tobacco Securitization Corp. California Revenue  3.487% 6/1/36        400        319
  Golden State Tobacco Securitization Corp. California Revenue  3.115% 6/1/38        400        310
  Golden State Tobacco Securitization Corp. California Revenue  3.714% 6/1/41        400        300
  Golden State Tobacco Securitization Corp. California Revenue  3.293% 6/1/42        500        370
  Golden State Tobacco Securitization Corp. California Revenue  3.000% 6/1/46        440        407
  Golden State Tobacco Securitization Corp. California Revenue  3.850% 6/1/50        500        442
  Golden State Tobacco Securitization Corp. California Revenue  4.214% 6/1/50        625        487
  Grand Parkway Transportation Corp. Texas System Toll Revenue  5.184% 10/1/42        315        323
  Grand Parkway Transportation Corp. Texas System Toll Revenue  3.236% 10/1/52      1,490      1,056
  Great Lakes Michigan Water Authority Sewage Disposal System Revenue  3.056% 7/1/39        100         77
  Houston TX GO  6.290% 3/1/32        710        742
  Houston TX GO  3.961% 3/1/47        355        306
  Idaho Energy Resources Authority Transmission Facilities Revenue (Bonneville Cooperation Project No.2)  2.861% 9/1/46        300        204
  Illinois GO  5.100% 6/1/33      7,370      7,073
 
105

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Illinois GO  6.630% 2/1/35        130        132
  Illinois Toll Highway Authority Revenue  6.184% 1/1/34        350        376
  Indiana Finance Authority Revenue (Ohio River Bridges East End Crossing Project)  3.051% 1/1/51        375        270
  Jobs Ohio Beverage System Statewide Liquor Profits Revenue  3.985% 1/1/29        375        364
  Jobs Ohio Beverage System Statewide Liquor Profits Revenue  4.532% 1/1/35        355        342
  Jobs Ohio Beverage System Statewide Liquor Profits Revenue  2.833% 1/1/38        325        254
  Kansas Department of Transportation Highway Revenue  4.596% 9/1/35        150        146
  Kansas Development Finance Authority Revenue  4.927% 4/15/45        200        189
17 Kansas Development Finance Authority Revenue  2.774% 5/1/51        600        405
  Los Angeles CA Community College District GO  1.606% 8/1/28        305        262
  Los Angeles CA Community College District GO  1.806% 8/1/30        500        410
  Los Angeles CA Community College District GO  2.106% 8/1/32      1,450      1,160
  Los Angeles CA Community College District GO  6.750% 8/1/49        325        404
  Los Angeles CA Department of Water & Power Revenue  5.716% 7/1/39        100        107
  Los Angeles CA Department of Water & Power Revenue  6.574% 7/1/45        410        483
  Los Angeles CA Department of Water & Power Revenue  6.603% 7/1/50        500        591
  Los Angeles CA Unified School District GO  5.750% 7/1/34      2,010      2,100
  Los Angeles CA Unified School District GO  6.758% 7/1/34        250        280
  Los Angeles County CA Metropolitan Transportation Authority Sales Tax Revenue  5.735% 6/1/39        400        420
  Los Angeles County CA Public Works Financing Authority Lease Revenue  7.618% 8/1/40         50         61
  Louisiana Gasoline & Fuel Tax Revenue  2.952% 5/1/41        200        151
  Louisiana Local Government Environmental Facilities & Community Development Authority System Restoration Taxable Bonds Revenue  3.615% 2/1/29        700        679
  Louisiana Local Government Environmental Facilities & Community Development Authority System Restoration Taxable Bonds Revenue  4.145% 2/1/33        700        663
  Louisiana Local Government Environmental Facilities & Community Development Authority System Restoration Taxable Bonds Revenue  4.275% 2/1/36        200        186
  Louisiana Local Government Environmental Facilities & Community Development Authority System Restoration Taxable Bonds Revenue  4.475% 8/1/39        700        651
  Maryland Health & Higher Educational Facilities Authority Revenue  3.052% 7/1/40        500        356
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Maryland Health & Higher Educational Facilities Authority Revenue  3.197% 7/1/50        500        327
  Maryland Transportation Authority Facilities Projects Revenue  5.888% 7/1/43        100        105
  Massachusetts GO  5.456% 12/1/39        845        887
  Massachusetts GO  2.514% 7/1/41        275        198
  Massachusetts GO  2.813% 9/1/43        300        217
  Massachusetts GO  2.900% 9/1/49        575        398
  Massachusetts School Building Authority Dedicated Sales Tax Revenue  5.715% 8/15/39        500        512
  Massachusetts School Building Authority Dedicated Sales Tax Revenue  3.395% 10/15/40        335        270
  Massachusetts School Building Authority Dedicated Sales Tax Revenue  2.950% 5/15/43        350        256
  Massachusetts Transportation Fund Revenue  5.731% 6/1/40         50         52
  Massachusetts Water Resources Authority Revenue  2.823% 8/1/41        250        184
  Metropolitan Government of Nashville & Davidson County TN Convention Center Authority Tourism Tax Revenue  6.731% 7/1/43        100        112
  Metropolitan Washington DC/VA Airports Authority Dulles Toll Road Revenue  7.462% 10/1/46        575        706
  Miami-Dade County FL Aviation Revenue (Miami International Airport)  4.280% 10/1/41        575        508
  Miami-Dade County FL Water & Sewer Revenue  3.490% 10/1/42        275        220
  Michigan Finance Authority Revenue (Trinity Health Credit Group)  3.084% 12/1/34        250        210
  Michigan Finance Authority Revenue (Trinity Health Credit Group)  3.384% 12/1/40        375        301
  Michigan State Building Authority Revenue Refunding Taxable BDS 2020 II  2.705% 10/15/40        800        583
  Michigan State University Revenue  4.496% 8/15/48        200        179
  Michigan State University Revenue  4.165% 8/15/22        465        343
  Michigan Strategic Fund Limited Obligation Revenue  3.225% 9/1/47        275        198
  Mississippi GO  5.245% 11/1/34        250        255
  Missouri Health & Educational Facilities Authority Revenue (Washington University)  3.229% 5/15/50        405        296
  Missouri Health & Educational Facilities Authority Revenue (Washington University)  3.652% 8/15/57        350        268
18 New Jersey Economic Development Authority Revenue (State Pension Funding)  7.425% 2/15/29      1,435      1,545
  New Jersey Transportation Trust Fund Authority Transportation System Revenue  5.754% 12/15/28        460        463
  New Jersey Transportation Trust Fund Authority Transportation System Revenue  4.081% 6/15/39        475        393
  New Jersey Transportation Trust Fund Authority Transportation System Revenue  6.561% 12/15/40        450        484
  New Jersey Transportation Trust Fund Authority Transportation System Revenue  4.131% 6/15/42        400        321
 
106

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New Jersey Turnpike Authority Revenue  7.414% 1/1/40        575        713
  New Jersey Turnpike Authority Revenue  7.102% 1/1/41      2,480      2,990
  New York City NY GO  5.517% 10/1/37        475        489
  New York City NY GO  6.271% 12/1/37        325        356
  New York City NY GO  5.263% 10/1/52        200        200
  New York City NY Municipal Water Finance Authority Water & Sewer System Revenue  5.750% 6/15/41        100        108
  New York City NY Municipal Water Finance Authority Water & Sewer System Revenue  5.724% 6/15/42        300        323
  New York City NY Municipal Water Finance Authority Water & Sewer System Revenue  5.952% 6/15/42        100        110
  New York City NY Municipal Water Finance Authority Water & Sewer System Revenue  6.011% 6/15/42         75         83
  New York City NY Municipal Water Finance Authority Water & Sewer System Revenue  5.440% 6/15/43        325        338
  New York City NY Municipal Water Finance Authority Water & Sewer System Revenue  5.882% 6/15/44      1,200      1,313
  New York City NY Transitional Finance Authority Future Tax Revenue  5.767% 8/1/36        290        300
  New York City NY Transitional Finance Authority Future Tax Revenue  5.508% 8/1/37        150        154
  New York City NY Transitional Finance Authority Future Tax Revenue  5.572% 11/1/38        625        641
  New York Metropolitan Transportation Authority Revenue (Build America Bonds)  5.871% 11/15/39        100         96
  New York Metropolitan Transportation Authority Revenue (Build America Bonds)  6.668% 11/15/39        500        516
  New York Metropolitan Transportation Authority Revenue (Build America Bonds)  6.814% 11/15/40        300        313
  New York Metropolitan Transportation Authority Revenue (Climate Bond Certified)  5.175% 11/15/49        825        712
  New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund)  7.336% 11/15/39        515        631
  New York State Dormitory Authority Revenue  3.142% 7/1/43        855        649
  New York State Dormitory Authority Revenue (Personal Income Tax)  2.202% 3/15/34        500        381
  New York State Dormitory Authority Revenue (Personal Income Tax)  3.110% 2/15/39        200        157
  New York State Dormitory Authority Revenue (Personal Income Tax)  5.628% 3/15/39         95         97
  New York State Dormitory Authority Revenue (Personal Income Tax)  3.190% 2/15/43        200        147
  New York State Thruway Authority General Revenue  2.900% 1/1/35        330        271
  New York State Thruway Authority General Revenue  3.500% 1/1/42        200        156
  New York State Urban Development Corp. Revenue (Personal Income Tax)  3.900% 3/15/33        300        275
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Urban Development Corp. Revenue (Personal Income Tax)  5.770% 3/15/39        450        462
  North Texas Tollway Authority System Revenue  3.011% 1/1/43        175        131
  North Texas Tollway Authority System Revenue  6.718% 1/1/49        700        830
  Ohio State University General Receipts Revenue  4.910% 6/1/40        275        276
  Ohio State University General Receipts Revenue  3.798% 12/1/46        100         84
  Ohio State University General Receipts Revenue  4.800% 6/1/11        615        506
  Ohio Turnpike Commission Revenue  3.216% 2/15/48        300        214
  Ohio Water Development Authority Water Pollution Control Loan Fund Revenue  4.879% 12/1/34        100         99
  Oklahoma Development Finance Authority Revenue  3.877% 5/1/37        525        497
  Oklahoma Development Finance Authority Revenue  4.380% 11/1/45        425        386
  Oklahoma Development Finance Authority Revenue  4.714% 5/1/52        350        320
  Oregon Department of Transportation Highway User Tax Revenue  5.834% 11/15/34        225        242
  Oregon GO  5.762% 6/1/23        100        100
  Oregon GO  5.892% 6/1/27        375        387
17 Oregon GO  3.424% 3/1/60        750        519
19 Oregon School Boards Association GO  5.528% 6/30/28        125        127
  Pennsylvania State University Revenue  2.790% 9/1/43        425        303
  Pennsylvania State University Revenue  2.840% 9/1/50        300        197
  Pennsylvania Turnpike Commission Revenue  5.511% 12/1/45        375        377
  Philadelphia PA Water & Wastewater Revenue  2.926% 7/1/45        275        192
  Port Authority of New York & New Jersey Revenue  6.040% 12/1/29        125        132
  Port Authority of New York & New Jersey Revenue  5.647% 11/1/40        200        209
  Port Authority of New York & New Jersey Revenue  5.647% 11/1/40        800        835
  Port Authority of New York & New Jersey Revenue  4.960% 8/1/46        975        946
  Port Authority of New York & New Jersey Revenue  5.310% 8/1/46        375        374
  Port Authority of New York & New Jersey Revenue  4.031% 9/1/48        175        144
  Port Authority of New York & New Jersey Revenue  3.139% 2/15/51      1,200        849
  Port Authority of New York & New Jersey Revenue  4.926% 10/1/51        135        127
  Port Authority of New York & New Jersey Revenue  3.175% 7/15/60        250        162
  Port Authority of New York & New Jersey Revenue  4.458% 10/1/62      2,280      1,978
  Port Authority of New York & New Jersey Revenue  4.810% 10/15/65        550        510
  Port Authority of New York & New Jersey Revenue  3.287% 8/1/69        400        261
  Port of Morrow OR Transmission Facilities Revenue (Bonneville Cooperation Projects)  2.543% 9/1/40        300        213
  Regional Transportation District of Colorado Sales Tax Revenue  5.844% 11/1/50        150        165
  Riverside County CA Pension Obligation Revenue Bonds  3.818% 2/15/38         75         65
 
107

 

Balanced Index Fund
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Rutgers State University New Jersey Revenue  5.665% 5/1/40        325        334
  Rutgers State University New Jersey Revenue  3.270% 5/1/43        100         75
  Rutgers State University New Jersey Revenue  3.915% 5/1/19        375        248
  Sales Tax Securitization Corp. Illinois Revenue  3.238% 1/1/42        350        266
  Sales Tax Securitization Corp. Illinois Revenue  3.587% 1/1/43        350        282
  Sales Tax Securitization Corp. Illinois Revenue  3.820% 1/1/48        250        192
  Sales Tax Securitization Corp. Illinois Revenue  4.787% 1/1/48        230        207
  Salt River Projects Arizona Agricultural Improvement & Power District Revenue  4.839% 1/1/41        370        361
  San Antonio TX Electric & Gas Systems Revenue  5.985% 2/1/39        225        244
  San Antonio TX Electric & Gas Systems Revenue  5.808% 2/1/41        490        522
  San Antonio TX Electric & Gas Systems Revenue  4.427% 2/1/42        450        417
  San Antonio TX Electric & Gas Systems Revenue  2.905% 2/1/48        250        176
  San Diego County CA Water Authority Revenue  6.138% 5/1/49      1,000      1,106
  San Francisco CA City & County Public Utilities Commission Water Revenue  6.950% 11/1/50        275        333
  San Jose California Redevelopment Agency Successor Agency Tax Allocation  3.375% 8/1/34        375        329
  Santa Clara Valley CA Transportation Authority Sales Tax Revenue  5.876% 4/1/32        645        669
  South Carolina Public Service Authority Revenue  6.454% 1/1/50        475        493
  State Public School Building Authority PA Revenue  5.000% 9/15/27        250        250
  Texas GO  5.517% 4/1/39      1,030      1,088
  Texas GO  3.211% 4/1/44        425        337
  Texas Private Activity Bond Surface Transportation Corp. Revenue (NTE Mobility Partners)  3.922% 12/31/49        775        587
  Texas Transportation Commission GO  4.681% 4/1/40        100         97
  Texas Transportation Commission GO  2.562% 4/1/42        725        535
  Texas Transportation Commission GO  2.472% 10/1/44        725        495
  Texas Transportation Commission State Highway Revenue  5.178% 4/1/30      1,275      1,299
  Texas Transportation Commission State Highway Revenue  4.000% 10/1/33        325        295
19 Tucson City AZ COP  2.856% 7/1/47        300        200
  University of California Regents Medical Center Pooled Revenue  4.132% 5/15/32        250        233
  University of California Regents Medical Center Pooled Revenue  6.548% 5/15/48      2,250      2,558
  University of California Regents Medical Center Pooled Revenue  6.583% 5/15/49        125        142
  University of California Regents Medical Center Pooled Revenue  3.006% 5/15/50        500        330
      Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  University of California Regents Medical Center Pooled Revenue  4.563% 5/15/53        200        175
  University of California Regents Medical Center Pooled Revenue  3.256% 5/15/60        660        428
  University of California Revenue  0.883% 5/15/25        225        206
  University of California Revenue  3.063% 7/1/25        400        385
  University of California Revenue  1.316% 5/15/27        925        798
  University of California Revenue  1.614% 5/15/30        525        418
  University of California Revenue  4.601% 5/15/31        500        491
  University of California Revenue  5.946% 5/15/45        275        290
  University of California Revenue  3.071% 5/15/51        500        335
  University of California Revenue  4.858% 5/15/12      1,330      1,121
  University of California Revenue  4.767% 5/15/15        150        122
  University of Michigan Revenue  2.437% 4/1/40        275        198
  University of Michigan Revenue  2.562% 4/1/50        200        129
  University of Michigan Revenue  3.504% 4/1/52        475        370
  University of Michigan Revenue  4.454% 4/1/22      1,100        892
  University of Nebraska Student Fee Revenue  3.037% 10/1/49        235        165
  University of Pittsburgh Pennsylvania of the Commonwealth System of Higher Education Revenue  3.555% 9/15/19        350        214
  University of Texas Financing System Revenue  4.794% 8/15/46        300        297
  University of Texas Financing System Revenue  3.354% 8/15/47        200        154
  University of Texas Financing System Revenue  2.439% 8/15/49        225        141
  University of Texas Permanent University Fund Revenue  3.376% 7/1/47        900        708
  University of Texas Permanent University Fund Revenue  3.100% 7/1/49        275        201
  University of Virginia Revenue  2.256% 9/1/50      1,075        656
  University of Virginia Revenue  4.179% 9/1/17        250        191
  Utah GO  4.554% 7/1/24         45         45
  Utah GO  3.539% 7/1/25        423        415
  Washington GO  5.140% 8/1/40        480        485
19 Westchester County NY Local Development Corp. Revenue (Westchester Medical Center)  3.846% 11/1/50        275        190
19 Wisconsin General Fund Annual Appropriation Revenue  5.700% 5/1/26        230        234
  Wisconsin General Fund Annual Appropriation Revenue  3.154% 5/1/27        300        280
  Wisconsin General Fund Annual Appropriation Revenue  3.954% 5/1/36      1,000        898
Total Taxable Municipal Bonds (Cost $151,356) 129,429
 
108

 

Balanced Index Fund
      Coupon   Shares Market
Value•

($000)
Temporary Cash Investments (0.8%)
Money Market Fund (0.8%)
20,21 Vanguard Market Liquidity Fund
(Cost $399,967) 		 4.334%    4,000,657           400,026
Total Investments (100.0%) (Cost $31,535,226)   47,912,461
Other Assets and Liabilities—Net (0.0%)   (9,457)
Net Assets (100%)   47,903,004
Cost is in $000.
• See Note A in Notes to Financial Statements.
* Non-income-producing security.
1 Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $58,043,000.
2 Security value determined using significant unobservable inputs.
3 “Other” represents securities that are not classified by the fund’s benchmark index.
4 Considered an affiliated company of the fund as the issuer is another member of The Vanguard Group.
5 Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of December 31, 2022.
6 U.S. government-guaranteed.
7 The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.
8 The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock.
9 Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions.
10 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $86,364,000, representing 0.2% of net assets.
11 Guaranteed by the Government of Canada.
12 Guaranteed by the Government of Japan.
13 Guaranteed by the Federal Republic of Germany.
14 Guaranteed by the Republic of Austria.
15 Guaranteed by the Government of Mexico.
16 Scheduled principal and interest payments are guaranteed by Texas Permanent School Fund.
17 Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co.
18 Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp.
19 Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp.
20 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
21 Collateral of $64,740,000 was received for securities on loan.
  12M—12-month.
  1YR—1-year.
  6M—6-month.
  CMT—Constant Maturing Treasury Rate.
  COP—Certificate of Participation.
  CVR—Contingent Value Rights.
  DAC—Designated Activity Company.
  GO—General Obligation Bond.
  LIBOR—London Interbank Offered Rate.
  Prere.—Prerefunded.
  REIT—Real Estate Investment Trust.
  SO—Special Obligation.
  SOFR—Secured Overnight Financing Rate.
  UMBS—Uniform Mortgage-Backed Securities.
  USD—U.S. dollar.
109

 

Balanced Index Fund
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts 		Notional
Amount 		Value and
Unrealized
Appreciation
(Depreciation)
Long Futures Contracts
10-Year U.S. Treasury Note March 2023 729 81,865 (278)
E-mini Russell 2000 Index March 2023 153 13,547 (131)
E-mini S&P 500 Index March 2023 586 113,127 (3,117)
        (3,526)
See accompanying Notes, which are an integral part of the Financial Statements.
110

 

Balanced Index Fund
Statement of Assets and Liabilities
As of December 31, 2022
($000s, except shares, footnotes, and per-share amounts) Amount
Assets  
Investments in Securities, at Value1  
Unaffiliated Issuers (Cost $31,131,821) 47,509,608
Affiliated Issuers (Cost $403,405) 402,853
Total Investments in Securities 47,912,461
Investment in Vanguard 1,817
Cash 880
Cash Collateral Pledged—Futures Contracts 9,127
Receivables for Investment Securities Sold 118,190
Receivables for Accrued Income 143,242
Receivables for Capital Shares Issued 38,485
Total Assets 48,224,202
Liabilities  
Payables for Investment Securities Purchased 191,883
Collateral for Securities on Loan 64,740
Payables for Capital Shares Redeemed 62,603
Payables to Vanguard 1,445
Variation Margin Payable—Futures Contracts 527
Total Liabilities 321,198
Net Assets 47,903,004
1 Includes $58,043,000 of securities on loan.  

 At December 31, 2022, net assets consisted of:

   
Paid-in Capital 31,384,483
Total Distributable Earnings (Loss) 16,518,521
Net Assets 47,903,004
 
Investor Shares—Net Assets  
Applicable to 5,005,652 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		198,521
Net Asset Value Per Share—Investor Shares $39.66
 
Admiral Shares—Net Assets  
Applicable to 944,065,816 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		37,436,767
Net Asset Value Per Share—Admiral Shares $39.65
 
Institutional Shares—Net Assets  
Applicable to 258,887,122 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		10,267,716
Net Asset Value Per Share—Institutional Shares $39.66
See accompanying Notes, which are an integral part of the Financial Statements.
111

 

Balanced Index Fund
Statement of Operations
  Year Ended
December 31, 2022
  ($000)
Investment Income  
Income  
Dividends—Unaffiliated Issuers1 486,614
Dividends—Affiliated Issuers 566
Interest—Unaffiliated Issuers 470,193
Interest—Affiliated Issuers 6,177
Securities Lending—Net 5,424
Total Income 968,974
Expenses  
The Vanguard Group—Note B  
Investment Advisory Services 1,355
Management and Administrative—Investor Shares 405
Management and Administrative—Admiral Shares 25,041
Management and Administrative—Institutional Shares 5,998
Marketing and Distribution—Investor Shares 13
Marketing and Distribution—Admiral Shares 1,651
Marketing and Distribution—Institutional Shares 295
Custodian Fees 337
Auditing Fees 38
Shareholders’ Reports—Investor Shares 2
Shareholders’ Reports—Admiral Shares 423
Shareholders’ Reports—Institutional Shares 44
Trustees’ Fees and Expenses 19
Other Expenses 58
Total Expenses 35,679
Net Investment Income 933,295
Realized Net Gain (Loss)  
Capital Gain Distributions Received—Affiliated Issuers 23
Investment Securities Sold—Unaffiliated Issuers 513,946
Investment Securities Sold—Affiliated Issuers (5,232)
Futures Contracts (98,758)
Realized Net Gain (Loss) 409,979
Change in Unrealized Appreciation (Depreciation)  
Investment Securities—Unaffiliated Issuers (11,533,868)
Investment Securities—Affiliated Issuers 331
Futures Contracts (10,437)
Change in Unrealized Appreciation (Depreciation) (11,543,974)
Net Increase (Decrease) in Net Assets Resulting from Operations (10,200,700)
1 Dividends are net of foreign withholding taxes of $34,000.
See accompanying Notes, which are an integral part of the Financial Statements.
112

 

Balanced Index Fund
Statement of Changes in Net Assets
  Year Ended December 31,
  2022
($000) 		2021
($000)
Increase (Decrease) in Net Assets    
Operations    
Net Investment Income 933,295 823,414
Realized Net Gain (Loss) 409,979 1,113,368
Change in Unrealized Appreciation (Depreciation) (11,543,974) 5,604,361
Net Increase (Decrease) in Net Assets Resulting from Operations (10,200,700) 7,541,143
Distributions    
Investor Shares (6,004) (10,264)
Admiral Shares (1,065,948) (1,478,246)
Institutional Shares (294,002) (414,045)
Total Distributions (1,365,954) (1,902,555)
Capital Share Transactions    
Investor Shares (61,986) (50,524)
Admiral Shares (1,095,405) 3,302,218
Institutional Shares (335,056) 151,538
Net Increase (Decrease) from Capital Share Transactions (1,492,447) 3,403,232
Total Increase (Decrease) (13,059,101) 9,041,820
Net Assets    
Beginning of Period 60,962,105 51,920,285
End of Period 47,903,004 60,962,105
See accompanying Notes, which are an integral part of the Financial Statements.
113

 

Balanced Index Fund
Financial Highlights
Investor Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended December 31,
2022 2021 2020 2019 2018
Net Asset Value, Beginning of Period $49.02 $44.34 $39.23 $32.99 $34.72
Investment Operations          
Net Investment Income1 .709 .627 .700 .755 .748
Capital Gain Distributions Received1 .0002 .0002 — — —
Net Realized and Unrealized Gain (Loss) on Investments (8.996) 5.564 5.537 6.345 (1.753)
Total from Investment Operations (8.287) 6.191 6.237 7.100 (1.005)
Distributions          
Dividends from Net Investment Income (.716) (.626) (.687) (.794) (.725)
Distributions from Realized Capital Gains (.357) (.885) (.440) (.066) —
Total Distributions (1.073) (1.511) (1.127) (.860) (.725)
Net Asset Value, End of Period $39.66 $49.02 $44.34 $39.23 $32.99
Total Return3 -16.97% 14.09% 16.26% 21.67% -2.97%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $199 $317 $334 $396 $3,014
Ratio of Total Expenses to Average Net Assets 0.18% 0.18% 0.18% 0.18% 0.18%
Ratio of Net Investment Income to Average Net Assets 1.66% 1.33% 1.76% 2.11% 2.15%
Portfolio Turnover Rate4 19% 35% 60% 37%5 44%5
1 Calculated based on average shares outstanding.
2 Distribution was less than $.001 per share.
3 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
4 Includes 5%, 15%, 12%, 6%, and 10%, respectively, attributable to mortgage-dollar-roll activity.
5 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares.
  
See accompanying Notes, which are an integral part of the Financial Statements.
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Financial Highlights
Admiral Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended December 31,
2022 2021 2020 2019 2018
Net Asset Value, Beginning of Period $49.02 $44.34 $39.23 $32.99 $34.72
Investment Operations          
Net Investment Income1 .761 .680 .742 .817 .791
Capital Gain Distributions Received1 .0002 .0002 — — —
Net Realized and Unrealized Gain (Loss) on Investments (9.010) 5.564 5.542 6.319 (1.757)
Total from Investment Operations (8.249) 6.244 6.284 7.136 (.966)
Distributions          
Dividends from Net Investment Income (.764) (.679) (.733) (.830) (.764)
Distributions from Realized Capital Gains (.357) (.885) (.441) (.066) —
Total Distributions (1.121) (1.564) (1.174) (.896) (.764)
Net Asset Value, End of Period $39.65 $49.02 $44.34 $39.23 $32.99
Total Return3 -16.90% 14.22% 16.40% 21.79% -2.86%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $37,437 $47,564 $39,901 $33,585 $23,913
Ratio of Total Expenses to Average Net Assets 0.07% 0.07% 0.07% 0.07% 0.07%
Ratio of Net Investment Income to Average Net Assets 1.79% 1.44% 1.86% 2.22% 2.26%
Portfolio Turnover Rate4 19% 35% 60% 37%5 44%5
1 Calculated based on average shares outstanding.
2 Distribution was less than $.001 per share.
3 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
4 Includes 5%, 15%, 12%, 6%, and 10%, respectively, attributable to mortgage-dollar-roll activity.
5 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares.
  
See accompanying Notes, which are an integral part of the Financial Statements.
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Financial Highlights
Institutional Shares          
For a Share Outstanding
Throughout Each Period 		Year Ended December 31,
2022 2021 2020 2019 2018
Net Asset Value, Beginning of Period $49.02 $44.35 $39.24 $33.00 $34.72
Investment Operations          
Net Investment Income1 .765 .685 .747 .820 .793
Capital Gain Distributions Received1 .0002 .0002 — — —
Net Realized and Unrealized Gain (Loss) on Investments (8.998) 5.554 5.541 6.320 (1.745)
Total from Investment Operations (8.233) 6.239 6.288 7.140 (.952)
Distributions          
Dividends from Net Investment Income (.769) (.684) (.737) (.834) (.768)
Distributions from Realized Capital Gains (.358) (.885) (.441) (.066) —
Total Distributions (1.127) (1.569) (1.178) (.900) (.768)
Net Asset Value, End of Period $39.66 $49.02 $44.35 $39.24 $33.00
Total Return -16.87% 14.20% 16.41% 21.79% -2.82%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $10,268 $13,081 $11,685 $11,143 $9,543
Ratio of Total Expenses to Average Net Assets 0.06% 0.06% 0.06% 0.06% 0.06%
Ratio of Net Investment Income to Average Net Assets 1.80% 1.45% 1.87% 2.23% 2.27%
Portfolio Turnover Rate3 19% 35% 60% 37%4 44%4
1 Calculated based on average shares outstanding.
2 Distribution was less than $.001 per share.
3 Includes 5%, 15%, 12%, 6%, and 10%, respectively, attributable to mortgage-dollar-roll activity.
4 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares.
See accompanying Notes, which are an integral part of the Financial Statements.
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Notes to Financial Statements
Vanguard Balanced Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: Investor Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors.
Certain of the fund's investments are in corporate debt instruments; the issuers’ abilities to meet their obligations may be affected by economic developments in their respective industries. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.
A.  The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
2. To Be Announced (TBA) Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The fund may be a seller of TBA transactions to reduce its exposure to the mortgage-backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. When the fund is a buyer of TBA transactions, it maintains cash or short-term investments in an amount sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The fund mitigates its counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The fund may also enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. Under an MSFTA, upon a counterparty default (including bankruptcy), the fund may terminate any TBA transactions with that counterparty, determine the net amount owed by either party in accordance with its MSFTA, and sell or retain any collateral held up to the net amount owed to the fund under the MSFTA.
At December 31, 2022, counterparties had deposited in segregated accounts cash of $270,000 in connection with TBA transactions.
3. Mortgage Dollar Rolls: The fund enters into mortgage-dollar-roll transactions, in which the fund sells mortgage-backed securities to a dealer and simultaneously agrees to purchase similar securities in the future at a predetermined price. The proceeds of the securities sold in mortgage-dollar-roll transactions are typically invested in high-quality short-term fixed income securities. The fund forgoes principal and interest paid on the securities sold, and is compensated by interest earned on the proceeds of the sale and by a lower price on the securities to be repurchased. The fund also enters into mortgage-dollar-roll transactions in which the fund buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell similar securities in the future at a predetermined price. The securities bought in mortgage-dollar-roll transactions are used to cover an open TBA sell position. The fund continues to earn interest on mortgage-backed security pools already held and receives a lower price on the securities to be sold in the future. The fund accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase
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Balanced Index Fund
the fund’s portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities Purchased in the Statement of Assets and Liabilities.
4. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The fund also uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds or stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.
During the year ended December 31, 2022, the fund’s average investments in long and short futures contracts represented 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.
5. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
6. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.
7. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.
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Balanced Index Fund
8. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the year ended December 31, 2022, the fund did not utilize the credit facilities or the Interfund Lending Program.
9. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.
B.  In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the fund had contributed to Vanguard capital in the amount of $1,817,000, representing less than 0.01% of the fund’s net assets and 0.73% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
C.  Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
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Balanced Index Fund
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund's investments and derivatives as of December 31, 2022, based on the inputs used to value them:
  Level 1
($000) 		Level 2
($000) 		Level 3
($000) 		Total
($000)
Investments        
Assets        
Common Stocks 28,526,739 22 317 28,527,078
Preferred Stocks 6 — — 6
U.S. Government and Agency Obligations — 12,633,524 — 12,633,524
Asset-Backed/Commercial Mortgage-Backed Securities — 486,543 — 486,543
Corporate Bonds — 5,114,133 — 5,114,133
Sovereign Bonds — 621,722 — 621,722
Taxable Municipal Bonds — 129,429 — 129,429
Temporary Cash Investments 400,026 — — 400,026
Total 28,926,771 18,985,373 317 47,912,461
Derivative Financial Instruments        
Liabilities        
Futures Contracts1 3,526 — — 3,526
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.
D.  Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for distributions in connection with fund share redemptions were reclassified between the following accounts:
  Amount
($000)
Paid-in Capital 31,065
Total Distributable Earnings (Loss) (31,065)
Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; the recognition of unrealized gains or losses from certain derivative contracts; the recognition of unrealized gains from passive foreign investment companies; the classification of securities for tax purposes; and the treatment of amortization adjustments from certain fixed income securities. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:
  Amount
($000)
Undistributed Ordinary Income 9,898
Undistributed Long-Term Gains 171,674
Capital Loss Carryforwards —
Qualified Late-Year Losses —
Net Unrealized Gains (Losses) 16,336,949
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Balanced Index Fund
The tax character of distributions paid was as follows:
  Year Ended December 31,
  2022
Amount
($000) 		2021
Amount
($000)
Ordinary Income 930,314 923,824
Long-Term Capital Gains* 435,640 978,731
Total 1,365,954 1,902,555
* Includes short-term capital gains, if any.
As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
  Amount
($000)
Tax Cost 31,575,512
Gross Unrealized Appreciation 20,117,988
Gross Unrealized Depreciation (3,781,039)
Net Unrealized Appreciation (Depreciation) 16,336,949
E.  During the year ended December 31, 2022, the fund purchased $2,034,614,000 of investment securities and sold $3,302,889,000 of investment securities, other than U.S. government securities and U.S. government securities and temporary cash investments. Purchases and sales of U.S. government securities were $7,582,216,000 and $7,489,870,000, respectively.
The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $191,069,000 and sales were $70,327,000, resulting in net realized gain of $2,685,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.
F.  Capital share transactions for each class of shares were:
  Year Ended December 31,
  2022   2021
  Amount
($000) 		Shares
(000) 		  Amount
($000) 		Shares
(000)
Investor Shares          
Issued 16,329 380   21,148 451
Issued in Lieu of Cash Distributions 6,004 144   10,264 215
Redeemed (84,319) (1,994)   (81,936) (1,733)
Net Increase (Decrease)—Investor Shares (61,986) (1,470)   (50,524) (1,067)
Admiral Shares          
Issued 4,524,384 104,765   7,965,098 169,983
Issued in Lieu of Cash Distributions 967,252 23,406   1,350,727 28,295
Redeemed (6,587,041) (154,497)   (6,013,607) (127,765)
Net Increase (Decrease)—Admiral Shares (1,095,405) (26,326)   3,302,218 70,513
Institutional Shares          
Issued 1,724,499 40,860   1,878,470 40,400
Issued in Lieu of Cash Distributions 285,811 6,916   400,891 8,403
Redeemed (2,345,366) (55,720)   (2,127,823) (45,456)
Net Increase (Decrease)—Institutional Shares (335,056) (7,944)   151,538 3,347
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Balanced Index Fund
G.  Transactions during the period in affiliated underlying Vanguard funds were as follows:
    Current Period Transactions  
  Dec. 31, 2021
Market Value
($000) 		Purchases
at Cost
($000) 		Proceeds
from
Securities
Sold
($000) 		Realized
Net Gain
(Loss)
($000) 		Change in
Unrealized
App. (Dep.)
($000) 		Income
($000) 		Capital Gain
Distributions
Received
($000) 		Dec. 31, 2022
Market Value
($000)
Vanguard Market Liquidity Fund 1,577,472 NA1 NA1 35 (63) 6,177 1 400,026
Vanguard Total Bond Market ETF 31,814 — 24,114 (5,267) 394 566 22 2,827
Total 1,609,286 — 24,114 (5,232) 331 6,743 23 402,853
1 Not applicable—purchases and sales are for temporary cash investment purposes.
H.  Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.
122

 

Report of Independent Registered
Public Accounting Firm
To the Board of Trustees of Vanguard Valley Forge Funds and Shareholders of Vanguard Balanced Index Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Vanguard Balanced Index Fund (one of the funds constituting Vanguard Valley Forge Funds, referred to hereafter as the "Fund") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s 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 Fund 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 December 31, 2022 by correspondence with the custodian, transfer agent 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 opinion.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
February 16, 2023‎
We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.
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Tax information (unaudited)
For corporate shareholders, 47.5%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.
The fund hereby designates $459,947,000, or if subsequently determined to be different, the maximum amount allowable by law, as qualified dividend income for individual shareholders for the fiscal year.
The fund hereby designates $149,140,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.
The fund distributed $466,706,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.
The fund hereby designates 49.3%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of section 163(j) and the regulations thereunder for the fiscal year.
The fund hereby designates $23,165,000, or if subsequently determined to be different, the maximum amount allowable by law, of qualified business income for individual shareholders for the fiscal year.
124

 

"Bloomberg®" and Bloomberg U.S. Aggregate Float Adjusted Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).
The Balanced Index Fund is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Balanced Index Fund or any member of the public regarding the advisability of investing in securities generally or in the Balanced Index Fund particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Float Adjusted Index, which is determined, composed and calculated by BISL without regard to Vanguard or the Balanced Index Fund. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Balanced Index Fund into consideration in determining, composing or calculating the Bloomberg U.S. Aggregate Float Adjusted Index. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Balanced Index Fund to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Balanced Index Fund customers, in connection with the administration, marketing or trading of the Balanced Index Fund.
BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE BALANCED INDEX FUND OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE BALANCED INDEX FUND OR BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.
© 2023 Bloomberg.
Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.
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The CRSP US Total Market Index (the “Index”) is a product of the Center for Research in Security Prices, LLC (“CRSP”), an affiliate of the University of Chicago (“University”), and has been licensed for use by Vanguard. CRSP® is a trademark of CRSP; and has been licensed by CRSP for use for certain purposes by Vanguard. Vanguard Balanced Index Fund is not sponsored, endorsed, sold or promoted by CRSP or University. Neither CRSP nor University makes any representation or warranty, express or implied, to the owners of Vanguard Balanced Index Fund or any member of the public regarding the advisability of investing in securities generally or in Vanguard Balanced Index Fund particularly or the ability of the Index to track general market performance. The Index is determined, composed, and calculated without regard to Vanguard or Vanguard Balanced Index Fund. Neither CRSP nor the University has any obligation to take the needs of Vanguard or the owners of Vanguard Balanced Index Fund into consideration in determining, composing, or calculating the Index. Neither CRSP nor the University is responsible for and has not participated in the determination of the prices and amount of Vanguard Balanced Index Fund or the timing of the issuance or sale of Vanguard Balanced Index Fund or in the determination or calculation of the equation by which Vanguard Balanced Index Fund is to be converted into cash, surrendered, or redeemed, as the case may be. Neither CRSP nor the University has any obligation or liability in connection with the administration, marketing or trading of Vanguard Balanced Index Fund. There is no assurance that investment products based on the Index will accurately track index performance or provide positive investment returns. Neither CRSP nor the University is an investment advisor. Inclusion of a security within an index is not a recommendation by CRSP or the University to buy, sell, or hold such security, nor is it considered to be investment advice.
NEITHER CRSP NOR THE UNIVERSITY GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR COMPLETENESS OF THE INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. NEITHER CRSP NOR THE UNIVERSITY SHALL BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. NEITHER CRSP NOR THE UNIVERSITY MAKES ANY EXPRESS OR IMPLIED WARRANTIES, AND CRSP AND THE UNIVERSITY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF VANGUARD BALANCED INDEX FUND, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL CRSP OR THE UNIVERSITY 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 IT HAS 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 CRSP AND VANGUARD, OTHER THAN THE LICENSORS, IF ANY, OF CRSP.
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The People Who Govern Your Fund
The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.
A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.
Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.
Interested Trustee1
Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.
Independent Trustees
Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University’s Leavey School of Business (2018–present).
Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.
F. Joseph Loughrey
Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.
Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM’s Retirement Plan Committee (2004–2013), senior vice president and general
manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.
Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).
Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.
André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.
Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).
David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).
 
1 Mr. Buckley is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

 

Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.
Executive Officers
Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.
Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).
John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).
Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and
director of Audit Services (2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).
Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.
Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).
Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.
Vanguard Senior Management Team
Matthew Benchener Thomas M. Rampulla
Joseph Brennan Karin A. Risi
Mortimer J. Buckley Anne E. Robinson
Gregory Davis Michael Rollings
John James Nitin Tandon
Chris D. McIsaac Lauren Valente

 

Connect with Vanguard®>vanguard.com
Fund Information > 800-662-7447
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Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.
All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.
You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.
You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.
© 2023 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Q020 022023
Annual Report  |  December 31, 2022
Vanguard Managed Allocation Fund

 

Contents
Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your fund are spelled out in the prospectus.

 

Your Fund’s Performance at a Glance
• For the fiscal year ended December 31, 2022, Vanguard Managed Allocation Fund returned –9.13%, outpacing its composite benchmark index. The fund seeks to deliver a targeted inflation-adjusted return through long-term capital appreciation and moderate income.
• Financial markets were challenged as inflation soared to its highest levels in decades because of increased government spending during the pandemic and higher energy and food prices resulting from Russia’s invasion of Ukraine. To combat higher prices, central banks around the world tightened monetary policy, which caused fears of recession.
• Our decision to allot some of the fund’s fixed income allocation to alternatives through Vanguard Market Neutral Fund and Vanguard Alternative Strategies Fund contributed to strong relative performance, as did an overweight allocation to commodities.
• Our overweight position in value stocks added to performance, and our exposure to Vanguard Global Minimum Volatility Fund also helped.
• For the 10 years ended December 31, the fund posted an average annual return of 5.99%, meeting its target return but falling just short of its benchmark.
Market Barometer
  Average Annual Total Returns
Periods Ended December 31, 2022
  One Year Three Years Five Years
Stocks      
Russell 1000 Index (Large-caps) -19.13% 7.35% 9.13%
Russell 2000 Index (Small-caps) -20.44 3.10 4.13
Russell 3000 Index (Broad U.S. market) -19.21 7.07 8.79
FTSE All-World ex US Index (International) -15.49 0.61 1.28
Bonds      
Bloomberg U.S. Aggregate Float Adjusted Index
(Broad taxable market) 		-13.07% -2.67% 0.06%
Bloomberg Municipal Bond Index
(Broad tax-exempt market) 		-8.53 -0.77 1.25
FTSE Three-Month U.S. Treasury Bill Index 1.50 0.70 1.24
CPI      
Consumer Price Index 6.45% 4.92% 3.78%
1

 

Advisor’s Report
Vanguard Managed Allocation Fund returned –9.13% for the year ended December 31, 2022. It held up better than the –14.22% return of its benchmark, the Managed Allocation Composite Index.
Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia’s invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.
For the 12 months ended December 31, U.S. stocks returned –19.21%, as measured by the Russell 3000 Index. Stocks outside the U.S. returned –15.49%, as measured by the FTSE All-World ex US Index.
The broad U.S. bond market returned –13.07% for the 12-month period, as measured by the Bloomberg U.S. Aggregate Float Adjusted Index. Non-U.S. bonds, as measured by the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), fell –12.72% for the year.
Investment objective
Vanguard Managed Allocation Fund seeks to deliver a targeted inflation-adjusted return through long-term capital appreciation and moderate income. We hold a broadly diversified portfolio of
equities, fixed income, commodity-linked investments, and alternatives. We invest in Vanguard funds through an actively managed asset allocation process. Our portfolio reflects our evaluation of expected risks and returns across markets.
We use quantitative analysis and professional judgment to combine complementary asset classes and investments along the risk/reward spectrum. We do not maintain a fixed asset allocation policy for the fund, and the proportions may be changed to reflect shifts in our risk and return expectations. Although we have flexibility to invest substantially in a single asset class or investment, we generally allocate to many of them.
We believe that markets are generally efficient in the long term, but short-term inefficiencies should allow our prudent, fundamentally driven strategy to achieve superior risk-adjusted results by concentrating on systematic opportunities in and between asset classes and by managing investment risks. We seek returns in line with or better than those achieved by a hypothetical portfolio allocation of 60% equity, 35% fixed income, and 5% commodities.
The fund adheres to a total-return-based approach by allocating its assets among broadly diversified investments, including stocks, bonds, commodities, and market-neutral investments. It currently invests in 15 Vanguard funds. From time to time, we adjust our allocations, depending on market conditions.
 
2

 

Successes and challenges
The fund benefited from underweighting U.S. and international bonds, allocating the weight instead to alternatives, primarily to Vanguard Market Neutral Fund Investor Shares and Vanguard Alternative Strategies Fund. In our bond and alternatives holdings, an overweight to shorter-duration investments also helped.
In equities, an overweight to the Vanguard Value Index boosted relative performance, as did a tilt toward defensive stocks through our exposure to Vanguard High Dividend Yield Index Fund Admiral Shares and Vanguard Minimum Volatility Fund Investor Shares. Our positions in international stocks slightly held back results.
The fund’s overweight to commodities through Vanguard Commodity Strategy Fund Admiral Shares also contributed. Commodities shrugged off the impact of a strong dollar and benefited from high inflation and tight supply conditions, exacerbated by Russia’s invasion of Ukraine and subsequent sanctions placed by the U.S. and much of Europe on its commodity exports.
The Bloomberg Commodity Index returned 16.09% for the year. While the Vanguard Commodity Strategy Fund lagged this index because our collateral exposure to TIPS was hurt by the rising real rate environment, our commodities exposure contributed to the Managed Allocation Fund’s performance.
The fund's positioning
Diversification and exposure to alternatives aided fund performance. We continue to position the fund for persistently high inflation, high rates, and hawkish central banks. We maintain a meaningful overweight to short-duration alternative assets and a defensive tilt toward high-quality, value, and low-volatility stocks. We also plan to continue to underweight bonds.
We will monitor conditions and position the portfolio within our risk-controlled framework. We believe our approach will produce strong results over an extended time horizon.
Thank you for entrusting us with your investments.
Portfolio Manager:
Fei Xu, CFA, FRM
Head of Alternative
and Multiasset Investments
Vanguard Quantitative Equity Group
January 17, 2023
3

 

About Your Fund’s Expenses
As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.
A fund’s expenses are expressed as a percentage of its average net assets. The Managed Allocation Fund has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets. The following examples are intended to help you understand the ongoing cost (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using the acquired fund fees and expenses for the Managed Allocation Fund.
The accompanying table illustrates your fund’s costs in two ways:
• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, 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 given for your fund under the heading ”Expenses Paid During Period.“
• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”
The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.
You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.
4

 

Six Months Ended December 31, 2022      
Managed Allocation Fund Beginning
Account Value
6/30/2022 		Ending
Account Value
12/31/2022 		Expenses
Paid During
Period
Based on Actual Fund Return $1,000.00 $1,021.90 $1.33
Based on Hypothetical 5% Yearly Return 1,000.00 1,023.89 1.33
The calculations are based on acquired fund fees and expenses for the most recent six-month period. The underlying funds' annualized expense figure for that period is 0.26%. The dollar amounts shown as ”Expenses Paid” are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).
5

 

Managed Allocation Fund
Performance Summary
All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares. 
Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $25,000
    Average Annual Total Returns
Periods Ended December 31, 2022 		 
    One
Year 		Five
Years 		Ten
Years 		Final Value
of a $25,000
Investment
Managed Allocation Fund -9.13% 3.81% 5.99% $44,735
Managed Allocation Composite Index -14.22 4.29 6.02 44,856
Dow Jones U.S. Total Stock Market Float Adjusted Index -19.53 8.65 12.03 77,878
Prior to May 21, 2020, Vanguard Managed Allocation Fund was known as Vanguard Managed Payout Fund and included a managed payout feature that made mandated monthly cash distributions. Returns before the merger reflect the performance of the former Managed Payout Growth and Distribution Fund.
Managed Allocation Composite Index: On May 21, 2020, Vanguard Managed Payout Fund was renamed Vanguard Managed Allocation Fund, and the Managed Payout Composite Index was renamed accordingly as the Managed Allocation Composite Index. Weighted 36% CRSP US Total Market Index, 24.5% Bloomberg U.S. Aggregate Float Adjusted Index, 24% FTSE Global All Cap ex US Index, 10.5% Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), and 5% Bloomberg Commodity Index as of May 1, 2015. In prior periods, the composite was 42% CRSP US Total Market Index, 28% U.S. Aggregate Float Adjusted Index, 18% FTSE Global All Cap ex US Index, 7% Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), and 5% Bloomberg Commodity Index (Dow Jones-UBS Commodity Index through June 30, 2014) through April 30, 2015; and 35% CRSP US Total Market Index (MSCI US Broad Market Index through May 31, 2013), 12% U.S. Aggregate Float Adjusted Index ,15% FTSE Global All Cap ex US Index (MSCI All Country World ex USA Investable Market Index through May 31, 2013), 3% Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), 15% Citigroup Three-Month U.S. Treasury Bill Index, 10% Dow Jones-UBS Commodity Index, and 10% REIT Spliced Index through January 31, 2014. International stock benchmark returns are adjusted for withholding taxes.
See Financial Highlights for dividend and capital gains information.
6

 

Managed Allocation Fund
Underlying Vanguard Funds
As of December 31, 2022
Vanguard Total International Stock Index Fund Investor Shares 21.5%
Vanguard Total Stock Market Index Fund Investor Shares 16.8
Vanguard Total Bond Market II Index Fund Investor Shares 11.8
Vanguard Alternative Strategies Fund Investor Shares 6.1
Vanguard Commodity Strategy Fund AdmiralTM Shares 6.0
Vanguard Ultra-Short-Term Bond Fund Investor Shares 6.0
Vanguard Value Index Fund Investor Shares 5.6
Vanguard Market Neutral Fund Investor Shares 4.9
Vanguard Small-Cap Value Index Fund Admiral Shares 4.5
Vanguard Dividend Appreciation Index Fund Admiral Shares 3.5
Vanguard High Dividend Yield Index Fund Admiral Shares 3.0
Vanguard Emerging Markets Bond Fund Investor Shares 3.0
Vanguard Global Minimum Volatility Fund Investor Shares 2.6
Vanguard Total International Bond Index Fund Investor Shares 2.4
Vanguard Emerging Markets Stock Index Fund Investor Shares 2.3
The table reflects the fund's investments, except for short-term investments.
7

 

Managed Allocation Fund
Financial Statements
Schedule of Investments
As of December 31, 2022
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
          Shares Market
Value•

($000)
Investment Companies (100.0%)
U.S. Stock Funds (33.5%)
  Vanguard Total Stock Market Index Fund Investor Shares  2,127,051   198,007
  Vanguard Value Index Fund Investor Shares  1,191,768    65,285
  Vanguard Small-Cap Value Index Fund Admiral Shares    777,332    53,053
  Vanguard Dividend Appreciation Index Fund Admiral Shares  1,003,948    41,373
  Vanguard High Dividend Yield Index Fund Admiral Shares  1,083,556    35,356
                       393,074
Global Stock Fund (2.6%)
  Vanguard Global Minimum Volatility Fund Investor Shares  2,251,721    30,308
International Stock Funds (23.8%)
  Vanguard Total International Stock Index Fund Investor Shares 15,154,326   252,471
  Vanguard Emerging Markets Stock Index Fund Investor Shares  1,101,775    27,214
                       279,685
U.S. Bond Funds (17.7%)
1 Vanguard Total Bond Market II Index Fund Investor Shares 14,755,697   138,261
  Vanguard Ultra-Short-Term Bond Fund Investor Shares  7,128,070    70,211
                       208,472
International Bond Funds (5.4%)
  Vanguard Emerging Markets Bond Fund Investor Shares  3,714,420    35,027
  Vanguard Total International Bond Index Fund Investor Shares  3,032,275    28,716
                        63,743
Alternative Funds (17.0%)
  Vanguard Alternative Strategies Fund Investor Shares  4,285,537    71,140
  Vanguard Commodity Strategy Fund Admiral Shares  2,577,100    70,458
  Vanguard Market Neutral Fund Investor Shares  4,682,454    58,016
                       199,614
Total Investment Companies (Cost $993,850) 1,174,896
8

 

Managed Allocation Fund
          Shares Market
Value•

($000)
Temporary Cash Investments (0.0%)
Money Market Fund (0.0%)
1 Vanguard Market Liquidity Fund, 4.334% (Cost $437)      4,372          437
Total Investments (100.0%) (Cost $994,287)   1,175,333
Other Assets and Liabilities—Net (0.0%)   34
Net Assets (100%)   1,175,367
Cost is in $000.
• See Note A in Notes to Financial Statements.
1 Affiliated fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown for Vanguard Market Liquidity Fund is the 7-day yield.
See accompanying Notes, which are an integral part of the Financial Statements.
9

 

Managed Allocation Fund
Statement of Assets and Liabilities
As of December 31, 2022
($000s, except shares, footnotes, and per-share amounts) Amount
Assets  
Investments in Securities, at Value—Affiliated Funds (Cost $994,287) 1,175,333
Receivables for Investment Securities Sold 2,198
Receivables for Accrued Income 331
Receivables for Capital Shares Issued 260
Total Assets 1,178,122
Liabilities  
Payables for Investment Securities Purchased 330
Payables for Capital Shares Redeemed 2,425
Total Liabilities 2,755
Net Assets 1,175,367
 
At December 31, 2022, net assets consisted of:

   
Paid-in Capital 995,712
Total Distributable Earnings (Loss) 179,655
Net Assets 1,175,367
   
Net Assets  
Applicable to 73,173,694 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		1,175,367
Net Asset Value Per Share $16.06
See accompanying Notes, which are an integral part of the Financial Statements.
10

 

Managed Allocation Fund
Statement of Operations
  Year Ended
December 31, 2022
  ($000)
Investment Income  
Income  
Income Distributions Received from Affiliated Funds 35,472
Net Investment Income—Note B 35,472
Realized Net Gain (Loss)  
Capital Gain Distributions Received from Affiliated Funds 838
Affiliated Funds Sold 327
Realized Net Gain (Loss) 1,165
Change in Unrealized Appreciation (Depreciation) from Affiliated Funds (161,198)
Net Increase (Decrease) in Net Assets Resulting from Operations (124,561)
See accompanying Notes, which are an integral part of the Financial Statements.
11

 

Managed Allocation Fund
Statement of Changes in Net Assets
  Year Ended December 31,
  2022
($000) 		2021
($000)
Increase (Decrease) in Net Assets    
Operations    
Net Investment Income 35,472 49,793
Realized Net Gain (Loss) 1,165 42,975
Change in Unrealized Appreciation (Depreciation) (161,198) 79,354
Net Increase (Decrease) in Net Assets Resulting from Operations (124,561) 172,122
Distributions    
Total Distributions (47,840) (93,869)
Capital Share Transactions    
Issued 185,553 194,769
Issued in Lieu of Cash Distributions 29,718 56,654
Redeemed (231,022) (268,983)
Net Increase (Decrease) from Capital Share Transactions (15,751) (17,560)
Total Increase (Decrease) (188,152) 60,693
Net Assets    
Beginning of Period 1,363,519 1,302,826
End of Period 1,175,367 1,363,519
See accompanying Notes, which are an integral part of the Financial Statements.
12

 

Managed Allocation Fund
Financial Highlights
For a Share Outstanding
Throughout Each Period 		Year Ended December 31,
2022 2021 2020 20191 20181
Net Asset Value, Beginning of Period $18.39 $17.33 $17.00 $15.68 $19.11
Investment Operations          
Net Investment Income2 .482 .687 .265 .431 .395
Capital Gain Distributions Received2 .011 .017 .020 .107 .056
Net Realized and Unrealized Gain (Loss) on Investments (2.163) 1.665 .839 1.877 (1.502)
Total from Investment Operations (1.670) 2.369 1.124 2.415 (1.051)
Distributions          
Dividends from Net Investment Income (.476) (.688) (.235) (.535) (.394)
Distributions from Realized Capital Gains (.184) (.621) (.559) (.354) (.996)
Return of Capital — — — (.206) (.989)
Total Distributions (.660) (1.309) (.794) (1.095) (2.379)
Net Asset Value, End of Period $16.06 $18.39 $17.33 $17.00 $15.68
Total Return -9.13% 13.77% 6.89% 15.64% -5.67%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $1,175 $1,364 $1,303 $1,869 $1,760
Ratio of Total Expenses to Average Net Assets — — — 0.02% 0.03%
Acquired Fund Fees and Expenses 0.27% 0.31% 0.28% 0.30% 0.29%
Ratio of Net Investment Income to Average Net Assets 2.84% 3.69% 1.65% 2.57% 2.11%
Portfolio Turnover Rate 21% 16% 33% 19% 17%
1 Prepared on a consolidated basis through the fiscal year ended December 31, 2019, to include activity associated with Vanguard MPF Portfolio, which was held by the fund until June 27, 2019.
2 Calculated based on average shares outstanding.
See accompanying Notes, which are an integral part of the Financial Statements.
13

 

Managed Allocation Fund
Notes to Financial Statements
Vanguard Managed Allocation Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund invests in Vanguard mutual funds and other investments according to an asset allocation strategy designed to provide shareholders with capital appreciation and income from their investments in the fund. Financial Statements and other information about each underlying fund are available on www.vanguard.com.
Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.
A.  The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Investments are valued at the net asset value of each underlying Vanguard fund determined as of the close of the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date.
2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
3. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.
4. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and borne by the funds in which the fund invests (see Note B). Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the
14

 

Managed Allocation Fund
extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the year ended December 31, 2022, the fund did not utilize the credit facilities or the Interfund Lending Program.
5. Other: Income and capital gain distributions received are recorded on the ex-dividend date.
Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
B.  In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the fund and all other expenses incurred by the fund during the year ended December 31, 2022, were borne by the underlying Vanguard funds in which the fund invests. The fund's trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.
C.  Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.
At December 31, 2022, 100% of the market value of the fund's investments was determined based on Level 1 inputs.
15

 

Managed Allocation Fund
D.  Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable distributions in connection with fund share redemptions were reclassified between the following accounts:
  Amount
($000)
Paid-in Capital 1,272
Total Distributable Earnings (Loss) (1,272)
Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:
  Amount
($000)
Undistributed Ordinary Income —
Undistributed Long-Term Gains 225
Capital Loss Carryforwards —
Qualified Late-Year Losses —
Net Unrealized Gains (Losses) 179,430
The tax character of distributions paid was as follows:
  Year Ended December 31,
  2022
Amount
($000) 		2021
Amount
($000)
Ordinary Income* 37,038 54,549
Long-Term Capital Gains 10,802 39,320
Total 47,840 93,869
* Includes short-term capital gains, if any.
As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:
  Amount
($000)
Tax Cost 995,903
Gross Unrealized Appreciation 225,768
Gross Unrealized Depreciation (46,338)
Net Unrealized Appreciation (Depreciation) 179,430
16

 

Managed Allocation Fund
E.  Capital shares issued and redeemed were:
  Year Ended December 31,
  2022
Shares
(000) 		2021
Shares
(000)
Issued 10,806 10,488
Issued in Lieu of Cash Distributions 1,806 3,091
Redeemed (13,567) (14,607)
Net Increase (Decrease) in Shares Outstanding (955) (1,028)
F.  Transactions during the period in affiliated underlying Vanguard funds were as follows:
    Current Period Transactions  
  Dec. 31, 2021
Market Value
($000) 		Purchases
at Cost
($000) 		Proceeds
from
Securities
Sold
($000) 		Realized
Net Gain
(Loss)
($000) 		Change in
Unrealized
App. (Dep.)
($000) 		Income
($000) 		Capital Gain
Distributions
Received
($000) 		Dec. 31, 2022
Market Value
($000)
Vanguard Alternative Strategies Fund 108,406 2,231 39,065 (7,192) 6,760 2,232 — 71,140
Vanguard Commodity Strategy Fund 103,169 10,892 50,595 9,100 (2,108) 8,927 — 70,458
Vanguard Dividend Appreciation Index Fund 47,857 4,395 5,278 18 (5,619) 844 — 41,373
Vanguard Emerging Markets Bond Fund 40,342 1,847 — — (7,162) 1,846 — 35,027
Vanguard Emerging Markets Stock Index Fund 33,753 1,996 1,584 (293) (6,658) 1,028 — 27,214
Vanguard Global Minimum Volatility Fund 35,033 1,485 3,107 233 (3,336) 765 719 30,308
Vanguard High Dividend Yield Index Fund 41,081 2,152 6,470 1,092 (2,499) 1,152 — 35,356
Vanguard Market Liquidity Fund 971 NA1 NA1 — — 10 — 437
Vanguard Market Neutral Fund 74,745 4,033 28,871 4,287 3,822 430 — 58,016
Vanguard Small-Cap Value Index Fund 81,938 5,300 25,177 1,419 (10,427) 1,307 — 53,053
Vanguard Total Bond Market II Index Fund 157,493 27,400 21,830 (2,596) (22,206) 3,262 119 138,261
Vanguard Total International Bond Index Fund 50,960 7,236 24,121 695 (6,054) 418 — 28,716
17

 

Managed Allocation Fund
    Current Period Transactions  
  Dec. 31, 2021
Market Value
($000) 		Purchases
at Cost
($000) 		Proceeds
from
Securities
Sold
($000) 		Realized
Net Gain
(Loss)
($000) 		Change in
Unrealized
App. (Dep.)
($000) 		Income
($000) 		Capital Gain
Distributions
Received
($000) 		Dec. 31, 2022
Market Value
($000)
Vanguard Total International Stock Index Fund 329,776 19,736 34,938 (4,388) (57,715) 7,925 — 252,471
Vanguard Total Stock Market Index Fund 190,277 68,663 14,613 (1,467) (44,853) 3,007 — 198,007
Vanguard Ultra-Short-Term Bond Fund — 80,126 10,000 (18) 103 484 — 70,211
Vanguard Value Index Fund 68,299 22,324 21,529 (563) (3,246) 1,835 — 65,285
Total 1,364,100 259,816 287,178 327 (161,198) 35,472 838 1,175,333
1 Not applicable—purchases and sales are for temporary cash investment purposes.
G.  In February 2023, the fund's board of trustees approved a plan of reorganization of Vanguard Managed Allocation Fund into Vanguard LifeStrategy Moderate Growth Fund. The reorganization does not require shareholder approval. Shares of Vanguard Managed Allocation Fund will be exchanged for new shares of Vanguard LifeStrategy Moderate Growth Fund. The reorganization is expected to qualify as a tax-free reorganization for federal income tax purposes, and to be completed in May 2023.
Management has determined that no other events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.
18

 

Report of Independent Registered
Public Accounting Firm
To the Board of Trustees of Vanguard Valley Forge Funds and Shareholders of Vanguard Managed Allocation Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Vanguard Managed Allocation Fund (one of the funds constituting Vanguard Valley Forge Funds, referred to hereafter as the "Fund") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America. 
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s 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 Fund 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 December 31, 2022 by correspondence with the transfer agent. We believe that our audits provide a reasonable basis for our opinion.
‎ /s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
February 16, 2023‎
We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.
19

 

Tax information (unaudited)
For corporate shareholders, 22.6%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.
The fund hereby designates $15,478,000, or if subsequently determined to be different, the maximum amount allowable by law, as qualified dividend income for individual shareholders for the fiscal year.
The fund hereby designates $4,746,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.
For nonresident alien shareholders, 100% of short-term capital gain dividends distributed by the fund for the fiscal year are qualified short-term capital gains.
The fund distributed $11,044,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.
The fund hereby designates 19.7%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of section 163(j) and the regulations thereunder for the fiscal year.
The fund designates to shareholders foreign source income of $9,954,000 and foreign taxes paid of $780,000, or if subsequently determined to be different, the maximum amounts allowable by law. Form 1099-DIV reports calendar-year amounts that can be included on the income tax return of shareholders.
20

 

"Bloomberg®," Bloomberg U.S. Aggregate Index, Bloomberg U.S. Aggregate Float Adjusted Index, and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).
The Managed Allocation Fund is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Managed Allocation Fund or any member of the public regarding the advisability of investing in securities generally or in the Managed Allocation Fund particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Index, Bloomberg U.S. Aggregate Float Adjusted Index, and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) (the Indices), which are determined, composed and calculated by BISL without regard to Vanguard or the Managed Allocation Fund. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Managed Allocation Fund into consideration in determining, composing or calculating the Indices. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Managed Allocation Fund to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Managed Allocation Fund customers, in connection with the administration, marketing or trading of the Managed Allocation Fund.
BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE MANAGED ALLOCATION FUND OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDICES OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE MANAGED ALLOCATION FUND OR THE INDICES OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.
© 2023 Bloomberg.
Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.
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The People Who Govern Your Fund
The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.
A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.
Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.
Interested Trustee1
Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.
Independent Trustees
Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University’s Leavey School of Business (2018–present).
Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.
 
1 Mr. Buckley is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

 

F. Joseph Loughrey
Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.
Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM’s Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.
Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).
Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.
André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.
Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).
David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).
Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

 

Executive Officers
Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.
Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).
John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).
Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).
Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.
Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).
Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.
Vanguard Senior Management Team
Matthew Benchener Thomas M. Rampulla
Joseph Brennan Karin A. Risi
Mortimer J. Buckley Anne E. Robinson
Gregory Davis Michael Rollings
John James Nitin Tandon
Chris D. McIsaac Lauren Valente

 

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Q14970 022023
Annual Report   |   December 31, 2022
Vanguard Baillie Gifford Global Positive Impact Stock Fund

 

Contents
Your Fund’s Performance at a Glance
1
Advisor's Report
2
About Your Fund’s Expenses
5
Performance Summary
7
Financial Statements
9
Trustees Approve Advisory Arrangements
23
Liquidity Risk Management
24
Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

 

Your Fund’s Performance at a Glance
• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. Vanguard Baillie Gifford Global Positive Impact Stock Fund (and its predecessor fund, the Baillie Gifford Positive Change Equities Fund) returned –30.25%, lagging its benchmark index, which returned –18.36%.
• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia’s invasion of Ukraine. That prompted aggressive interest rate tightening by many central banks to bring inflation back in check, which increased fears of recession.
• The fund seeks to invest in high-quality growth companies that are expected to contribute toward a more sustainable and inclusive world over the long term. Unfortunately, that growth tilt weighed on performance during the fiscal year as high inflation and rising interest rates contributed to growth stocks returning about –29%, as measured by the MSCI ACWI Growth Index. The tilt was reflected in the fund's holdings in health care, consumer discretionary, and information technology.
Market Barometer
  Average Annual Total Returns
Periods Ended December 31, 2022
  One Year Three Years Five Years
Stocks      
Russell 1000 Index (Large-caps) -19.13% 7.35% 9.13%
Russell 2000 Index (Small-caps) -20.44 3.10 4.13
Russell 3000 Index (Broad U.S. market) -19.21 7.07 8.79
FTSE All-World ex US Index (International) -15.49 0.61 1.28
Bonds      
Bloomberg U.S. Aggregate Float Adjusted Index
(Broad taxable market) 		-13.07% -2.67% 0.06%
Bloomberg Municipal Bond Index
(Broad tax-exempt market) 		-8.53 -0.77 1.25
FTSE Three-Month U.S. Treasury Bill Index 1.50 0.70 1.24
CPI      
Consumer Price Index 6.45% 4.92% 3.78%
1

 

Advisor's Report
For the 12 months ended December 31, 2022, Vanguard Baillie Gifford Global Positive Impact Stock Fund (and its predecessor fund, the Baillie Gifford Positive Change Equities Fund) returned –30.25%, lagging its benchmark, the MSCI AC World Index, which returned –18.36%.
Investment environment
The past year has been unsettling. While geopolitical events have dominated the headlines, the pace of climate change has also accelerated, as evidenced by heatwaves in India and Europe and devastating flooding in Pakistan. This challenging backdrop, combined with supply chain disruptions and higher inflation and interest rates, created a much tougher environment for equity investors, especially those focusing on growth equities.
Management of the fund
In this sea of uncertainty, our philosophy remains our anchor. The Global Positive Impact Stock Fund has two equally important objectives: to generate attractive investment returns over the long term and to contribute towards a more sustainable and inclusive world. Although investment returns have been strong overall in the five years since the fund’s inception, they were much weaker over the 12 months.
Despite the disappointing short-term performance, we remain focused on the long-term ability of the companies in the portfolio to meet our dual objectives. We are growth investors, and we firmly
believe that share prices follow fundamentals over the long term. The portfolio’s fundamental characteristics remain strong: Annual revenue and cash-flow growth over the last five years have been double that of the benchmark, companies within the portfolio carry much less debt than the benchmark average, and, crucially, they continue to invest for future growth at an impressive rate.
Although the overall portfolio metrics are reassuring, our research continues to focus on individual companies’ ability to withstand the current environment and prosper over the long run. The portfolio has many examples of companies whose products demonstrate resilience primarily because they are driving positive change and providing their customers with a much better alternative to the status quo. These companies are helping to solve big and enduring problems that have a pressing need for solutions irrespective of interest rate or inflationary cycles. We can point to many examples, including Bank Rakyat, which is expanding access to banking services in Indonesia, Dexcom’s revolutionary continuous glucose monitoring systems for diabetics, or Xylem’s technology, which provides clean, safe, and affordable drinking water.
These three companies were among the top performers over the period, alongside Deere, which had a successful year with advances in its precision agriculture “See & Spray” technology and an early launch of its autonomous tractor. These were key milestones in a year in which the global population passed 8 billion, highlighting
 
2

 

the need to increase agricultural output without exacerbating environmental degradation.
Some companies, however, have experienced a more challenging operational environment. Although we are enthusiastic about the opportunity for 10x Genomics, the single-cell analysis business that enables understanding of biology on a more granular level, the company has been a recent casualty of COVID-related supply chain woes, leading to disappointing results and share-price weakness.
ASML and Tesla also hurt performance. ASML, which performs a critical role in the manufacturing of semiconductors, was impacted by negative market sentiment over macroeconomic concerns. Despite these worries, the overall demand for ASML’s systems remains robust, and it is investing in its capacity to meet the growing demand for its products. Tesla suffered on concerns over slowing electric vehicle demand in the face of rising interest rates and questions over CEO Elon Musk’s purchase of Twitter. Despite these developments, Tesla’s operational performance remained strong, having delivered just over 1.3 million new vehicles to customers in 2022, an increase of 40% over the previous year.
Throughout the year, we reviewed a number of holdings whose share prices had fallen significantly. We distinguished between companies facing operational challenges and those performing well operationally but whose share-price declines, in our view, were mostly
attributable to changes in market sentiment. We used this as a prompt to move on from companies where we had lost conviction, and we redeployed capital toward companies where the divergence between share price and operating performance created an attractive opportunity for additions.
As a result, we sold our holdings in Alibaba, Berkeley Lights, and Beyond Meat. Berkeley Lights, a developer of single-cell analysis technology, and Beyond Meat, the plant-based protein producer, both face significant operational challenges. We sold them on investment grounds. We sold Alibaba, the Chinese technology giant, because of concerns about its ability to meet our impact objective.
In the fourth quarter we bought Autodesk and Remitly. Autodesk’s design software enables customers to improve efficiency and reduce waste and is essential for upgrading infrastructure, which will be necessary for our ability to mitigate and adapt to climate change. Remitly provides remittance and financial services to immigrants, which can help to alleviate poverty and improve household resilience to economic shocks.
Investment philosophy and process
Humanity is facing a number of challenges that must be addressed in order to place our society on a path to sustainable development. We need to combat climate change and other environmental degradations. We need to continue improving living standards for the majority.
3

 

And, as COVID-19 has shown, we need to invest heavily in health care so fewer people have their lives cut short by diseases.
This is an extraordinarily exciting period for the development of new technologies and solutions. Precision agriculture is helping farmers become more sustainable and productive. New classes of therapeutics are helping treat previously incurable diseases. And mobile and digital technologies are democratizing access to information, education, and financial services.
We believe that the best way we can contribute to this effort is through a positive and proactive investment approach, focused on companies that are addressing those challenges, challenging the status quo, and driving positive change in society. We look for companies that are led by ambitious and committed management teams, with products and services that help address a sustainability challenge and where there is the opportunity to build a scalable business that will generate long-term value for society and shareholders.
We invest in a concentrated portfolio of 25 to 50 high-quality growth companies that can deliver positive social change in one of four impact areas: social inclusion and education; environment and resource needs; health care and quality of life; and base of the pyramid (addressing the needs of people at the bottom of the global income ladder).
To meet our investment objectives, we have established a clear and consistent process, from idea generation through to portfolio construction. We are bottom-up stock-pickers who let our curiosity and enthusiasm drive our research agenda. In addition to the ideas flowing from team members and our wider investment department, we work with external experts to understand global challenges and the potential solutions.
When it comes to analyzing potential portfolio holdings, there are two stages of research. The first focuses on the investment objective using an eight-question framework to analyze the investment potential of a company. The second stage looks specifically at the impact potential of a business using a three-factor framework that considers the intent of the management team, the company’s business practices, and its product impact (the relationship between what a company produces and how it contributes toward solving a global challenge). Our conviction in both the impact and investment potential of a company is taken into consideration and, in order for a company to enter the portfolio, it must meet both of our objectives.
Baillie Gifford Overseas Ltd.
Portfolio Managers:
Kate Fox, CFA, Partner
Lee Qian, CFA
January 13, 2023
4

 

About Your Fund’s Expenses
As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.
A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The accompanying table illustrates your fund’s costs in two ways:
• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, 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 given for your fund under the heading ”Expenses Paid During Period.“
• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”
The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.
You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.
5

 

Six Months Ended December 31, 2022      
Baillie Gifford Global Positive Impact Stock Fund Beginning
Account Value
6/30/2022 		Ending
Account Value
12/31/2022 		Expenses
Paid During
Period
Based on Actual Fund Return      
Investor Shares $1,000.00 $1,092.00 $3.43
Based on Hypothetical 5% Yearly Return      
Investor Shares $1,000.00 $1,021.93 $3.31
The calculations are based on expenses incurred in the most recent six-month period. The fund’s annualized six-month expense ratio for that period is 0.65%. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).
6

 

Baillie Gifford Global Positive Impact Stock Fund
Performance Summary
All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
Cumulative Performance: December 14, 2017, Through December 31, 2022
Initial Investment of $10,000
    Average Annual Total Returns
Periods Ended December 31, 2022 		 
    One
Year 		Five
Years 		Since
Inception
(12/14/2017) 		Final Value
of a $10,000
Investment
Baillie Gifford Global Positive Impact Stock Fund Investor Shares -30.25% 13.21% 13.43% $18,891
  MSCI All Country World Index Net -18.36 5.23 5.50 13,103
See Financial Highlights for dividend and capital gains information.
7

 

Baillie Gifford Global Positive Impact Stock Fund
Fund Allocation
As of December 31, 2022
United States 48.1%
Denmark 9.8
Netherlands 6.4
Canada 5.1
Taiwan 5.0
Indonesia 4.5
India 4.5
Belgium 3.6
Germany 2.9
Japan 2.6
Sweden 2.3
South Africa 2.2
Brazil 1.8
Other 1.2
The table reflects the fund’s investments, except for short-term investments.
8

 

Baillie Gifford Global Positive Impact Stock Fund
Financial Statements
Schedule of Investments
As of December 31, 2022
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
    Shares Market
Value•

($000)
Common Stocks (91.9%)
Belgium (3.4%)
  Umicore SA      151,584    5,575
Brazil (1.8%)
* NU Holdings Ltd. Class A      710,863    2,893
Canada (4.9%)
* Shopify Inc. Class A (XTSE)    167,441    5,812
* AbCellera Biologics Inc.    205,590    2,083
         7,895
Denmark (9.5%)
1 Orsted A/S     66,745    6,034
  Novozymes A/S Class B     97,037    4,923
  Chr Hansen Holding A/S     60,490    4,351
        15,308
Germany (2.8%)
  Sartorius AG Preference Shares       11,286    4,457
Indonesia (4.3%)
* Bank Rakyat Indonesia Persero Tbk PT   22,014,417    6,980
Japan (2.5%)
  M3 Inc.      147,100    3,996
Kenya (0.5%)
  Safaricom plc    4,299,300      842
Netherlands (6.2%)
  ASML Holding NV       18,264    9,958
South Africa (2.1%)
* Discovery Ltd.      473,043    3,422
Sweden (2.2%)
  Nibe Industrier AB Class B      390,132    3,641
Taiwan (4.8%)
  Taiwan Semiconductor Manufacturing Co. Ltd.      540,000    7,843
United Kingdom (0.6%)
  FDM Group Holdings plc      115,526    1,036
United States (46.3%)
* Moderna Inc.     58,049   10,427
  Deere & Co.     21,159    9,072
* MercadoLibre Inc.     10,601    8,971
* Alnylam Pharmaceuticals Inc.     36,742    8,732
* DexCom Inc.     67,840    7,682
  Xylem Inc.     60,058    6,641
* Illumina Inc.     27,251    5,510
* Tesla Inc.     27,847    3,430
9

 

Baillie Gifford Global Positive Impact Stock Fund
    Shares Market
Value•

($000)
* Autodesk Inc.     17,856    3,337
  Ecolab Inc.     22,695    3,303
* 10X Genomics Inc. Class A     60,627    2,209
* Duolingo Inc.     27,944    1,988
* Coursera Inc.    135,391    1,602
* Teladoc Health Inc.     54,834    1,297
* Remitly Global Inc.     31,915      365
* Peloton Interactive Inc. Class A     39,600      314
*,2 ABIOMED Inc. CVR     16,638       17
        74,897
Total Common Stocks (Cost $167,450) 148,743
Participatory Notes (4.3%)
India (4.3%)
* CLSA Global Markets Pte. Ltd., Housing Development Finance Corp. Ltd. 6/30/25 (Cost $6,366)    219,433    6,944
Temporary Cash Investments (6.9%)
Money Market Fund (6.9%)
3 Vanguard Market Liquidity Fund 4.334% (Cost $11,072)    110,730         11,072
Total Investments (103.1%) (Cost $184,888) 166,759
Other Assets and Liabilities—Net (-3.1%) (4,954)
Net Assets (100%) 161,805
Cost is in $000.
• See Note A in Notes to Financial Statements.
* Non-income-producing security.
1 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $6,034,000, representing 3.7% of net assets.
2 Security value determined using significant unobservable inputs.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
  CVR—Contingent Value Rights.
  
See accompanying Notes, which are an integral part of the Financial Statements.
10

 

Baillie Gifford Global Positive Impact Stock Fund
Statement of Assets and Liabilities
As of December 31, 2022
($000s, except shares, footnotes, and per-share amounts) Amount
Assets  
Investments in Securities, at Value  
Unaffiliated Issuers (Cost $173,816) 155,687
Affiliated Issuers (Cost $11,072) 11,072
Total Investments in Securities 166,759
Investment in Vanguard 6
Receivables for Accrued Income 170
Receivables for Capital Shares Issued 1,926
Total Assets 168,861
Liabilities  
Due to Custodian 3
Payables for Investment Securities Purchased 6,685
Payables to Investment Advisor 172
Payables for Capital Shares Redeemed 166
Payables to Vanguard 30
Total Liabilities 7,056
Net Assets 161,805
At December 31, 2022, net assets consisted of:  
   
Paid-in Capital 203,542
Total Distributable Earnings (Loss) (41,737)
Net Assets 161,805
 
Investor Shares—Net Assets  
Applicable to 9,939,623 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		161,805
Net Asset Value Per Share—Investor Shares $16.28
  
See accompanying Notes, which are an integral part of the Financial Statements.
11

 

Baillie Gifford Global Positive Impact Stock Fund
Statement of Operations
  Year Ended
December 31, 20221
  ($000)
Investment Income  
Income  
Dividends2 1,161
Interest3 36
Total Income 1,197
Expenses  
Investment Advisory Fees—Note B 605
Administration & Supervisory Fee—Investor Shares—Note C 62
Administration & Supervisory Fee—Class K Shares—Note C 85
Transfer Agency—Note C 39
Sub-transfer Agency—Investor Shares—Note C 34
Fund Accounting—Note C 55
Registration Fees—Note C 67
The Vanguard Group—Note D  
Management and Administrative—Investor Shares 24
Marketing and Distribution—Investor Shares 5
Custodian Fees 22
Auditing Fees 64
Shareholders’ Reports—Investor Shares 4
Shareholders’ Reports—Class K Shares —
Trustees’ Fees and Expenses 3
Interest Expense —
Other Expenses 40
Total Expenses 1,109
Fees Waived/Expenses Reimbursed—Note C (93)
Net Expenses 1,016
Net Investment Income 181
Realized Net Gain (Loss)  
Investment Securities Sold3 (21,239)
Foreign Currencies (86)
Realized Net Gain (Loss) (21,325)
Change in Unrealized Appreciation (Depreciation)  
Investment Securities3 (41,228)
Foreign Currencies (3)
Change in Unrealized Appreciation (Depreciation) (41,231)
Net Increase (Decrease) in Net Assets Resulting from Operations (62,375)
1 Includes activity of the Predecessor Fund through 7/18/22. See Notes to Financial Statements.
2 Dividends are net of foreign withholding taxes of $198,000.
3 Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $35,000, $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes.
  
See accompanying Notes, which are an integral part of the Financial Statements.
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Baillie Gifford Global Positive Impact Stock Fund
Statement of Changes in Net Assets
  Year Ended December 31,
  20221
($000) 		20211
($000)
     
Increase (Decrease) in Net Assets    
Operations    
Net Investment Income (Loss) 181 (383)
Realized Net Gain (Loss) (21,325) 14,473
Change in Unrealized Appreciation (Depreciation) (41,231) (8,381)
Net Increase (Decrease) in Net Assets Resulting from Operations (62,375) 5,709
Distributions    
Investor Shares (1,559) (7,069)
Class K Shares (1,877) (8,595)
Total Distributions (3,436) (15,664)
Capital Share Transactions    
Investor Shares 98,295 57,229
Class K Shares (69,757) 55,810
Net Increase (Decrease) from Capital Share Transactions 28,538 113,039
Total Increase (Decrease) (37,273) 103,084
Net Assets    
Beginning of Period 199,078 95,994
End of Period 161,805 199,078
1 Includes activity of the Predecessor Fund through 7/18/22. See Notes to Financial Statements.
  
See accompanying Notes, which are an integral part of the Financial Statements.
13

 

Baillie Gifford Global Positive Impact Stock Fund
Financial Highlights
Investor Shares          
For a Share Outstanding
Throughout Each Period  		Year Ended December 31,
20221 20211 20201 20191 20181
Net Asset Value, Beginning of Period $23.89 $23.79 $13.13 $10.10 $10.16
Investment Operations          
Net Investment Income (Loss)2 .007 (.08) (.04) .05 (.02)
Net Realized and Unrealized Gain (Loss) on Investments (7.246) 2.25 11.63 3.03 (.04)
Total from Investment Operations (7.239) 2.17 (11.59) 3.08 (.06)
Distributions          
Dividends from Net Investment Income (.031) — — (.03) —
Distributions from Realized Capital Gains (.340) (2.07) (.93) (.02) —
Total Distributions (.371) (2.07) (.93) (.05) —
Net Asset Value, End of Period $16.28 $23.89 $23.79 $13.13 $10.10
Total Return3 -30.25% 9.15% 88.28% 30.49% -0.59%
Ratios/Supplemental Data          
Net Assets, End of Period (Millions) $162 $87 $36 $11 $7
Ratio of Net Expenses to Average Net Assets, Before Waiver—Note C 0.68% 0.77% 1.05% 1.63% 3.21%
Ratio of Net Expenses to Average Net Assets, After Waiver—Note C 0.64% 0.72% 0.68% 0.65% 0.65%
Ratio of Net Investment Income (Loss) to Average Net Assets 0.04% (0.28%) (0.21%) 0.41% (0.14%)
Portfolio Turnover Rate 35% 28% 40% 7% 7%
1 Includes activity of the Predecessor Fund through 7/18/22. See Notes to Financial Statements.
2 Calculated based on average shares outstanding.
3 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
  
See accompanying Notes, which are an integral part of the Financial Statements.
14

 

Baillie Gifford Global Positive Impact Stock Fund
Notes to Financial Statements
Vanguard Baillie Gifford Global Positive Impact Stock Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund invests in securities of foreign issuers, which may subject it to investment risks not normally associated with investing in securities of U.S. corporations.
Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.
On July 18, 2022, the fund, a newly organized investment company with no investment operations prior to this date, acquired all net assets of the Baillie Gifford Positive Change Equities Fund (the Predecessor Fund) pursuant to a plan of reorganization approved by the fund’s board of trustees on December 17, 2021, and by the shareholders of the Predecessor Fund at a special meeting on July 6, 2022. The primary reasons for the acquisition were to reduce shareholder costs using the fund’s lower operating cost structure and achieve greater economies of scale through access to the fund’s larger retail distribution network. The investment objectives are identical, and the strategies, policies, and risks of the fund are substantially similar to those of the Predecessor Fund. The acquisition was accomplished by a tax-free exchange of 3.7 million and 5.6 million of the fund’s Investor Class shares for the 3.7 million Institutional Class shares and the 5.6 million Class K shares of the Predecessor Fund, respectively, on July 18, 2022. The Predecessor Fund’s net assets of $143.3 million, including $32.0 million of unrealized depreciation, were acquired by the fund on July 18, 2022. Historical performance information of the Investor Class through July 18, 2022 is representative of the Institutional Class of the Predecessor Fund.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.
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Baillie Gifford Global Positive Impact Stock Fund
2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).
3. Participation Notes (P-Notes): P-Notes are issued by banks or broker-dealers as general unsecured obligations and are designed to replicate the performance of foreign companies measured by the change in the value of an underlying security while not holding the actual shares of the underlying security. These investments are typically used to gain exposure to securities traded in foreign markets that may be restricted due to country-specific regulations. While the holder of a P-Note is entitled to receive from the bank or broker-dealer any dividends paid by the underlying security, the holder is not entitled to the same rights (e.g., voting rights) as a direct owner of the underlying security.
4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.
6. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in an uncommitted credit facility provided by Vanguard, which may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. Any borrowings under the facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread, or may bear interest based upon an alternate rate agreed to by the fund and Vanguard.
In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight, but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
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Baillie Gifford Global Positive Impact Stock Fund
For the year ended December 31, 2022, neither the uncommitted credit facility nor the Interfund Lending Program were utilized.
Through July 18, 2022, the Predecessor Fund was party to a committed credit facility with The Bank of New York Mellon, related to which the Predecessor Fund paid a commitment fee on the portion of the facility that was undrawn. Such commitment fees of $1,000 incurred during this period are included in other expenses. The Predecessor Fund utilized the committed credit facility for 8 days during this period; the average daily balance of borrowings during this period was $794,000, borrowed at an annualized weighted average interest rate of 1.83%, and the related interest expense is recorded in the Statement of Operations. There were no amounts outstanding at December 31, 2022.
7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
B. Baillie Gifford & Co. (Baillie Gifford) provides investment advisory services for a fee calculated at an annual percentage rate of average fund net assets. For the period January 1, 2022 through July 18, 2022, the investment advisory fee represented an effective annual basic rate of 0.33% of the Predecessor Fund’s average net assets; thereafter through December 31, 2022, the investment advisory fee represented an effective annual basic rate of 0.45% of the fund’s average net assets. For the year ended December 31, 2022, the aggregate investment advisory fee represented an effective annual rate of 0.38% of average fund net assets.
C. Through July 18, 2022, Baillie Gifford and its affiliates were responsible for providing certain administrative services to the Predecessor Fund, as well as coordinating, overseeing and supporting services provided to the Predecessor Fund by third parties, including financial intermediaries that hold accounts with the Predecessor Fund, for a fee (the Administration & Supervisory Fee) calculated at an annual rate of 0.17% of the Predecessor Fund's average net assets for the period. The Bank of New York Mellon provided fund accounting and fund registration services to the Predecessor Fund, and BNY Mellon Investment Servicing (U.S.) Inc. served as the Predecessor Fund’s transfer agent, registrar and dividend disbursing agent. Additionally, the Institutional Class (which was reorganized into the Investor Class) bore expenses in connection with compensating financial intermediaries for sub-transfer agency and other services; Class K did not bear such expenses.
Through July 18, 2022, Baillie Gifford contractually agreed to waive its fees and/or bear expenses of the Predecessor Fund to the extent that the Predecessor Fund's total annual operating expenses (excluding any taxes, sub-accounting expenses and extraordinary expenses) exceeded 0.65% of each of the Predecessor Fund's Institutional Class and Class K average daily net assets. Waived fees or expenses reimbursed are not subject to recoupment by Baillie Gifford.
D. Effective July 18, 2022, in accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund corporate management, administrative, marketing, distribution and cash management services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.
17

 

Baillie Gifford Global Positive Impact Stock Fund
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the fund had contributed to Vanguard capital in the amount of $6,000, representing less than 0.01% of the fund’s net assets and less than 0.01% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
E. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund’s investments as of December 31, 2022, based on the inputs used to value them:
  Level 1
($000) 		Level 2
($000) 		Level 3
($000) 		Total
($000)
Investments         
Assets        
Common Stocks 85,668 63,058 17 148,743
Participatory Notes — 6,944 — 6,944
Temporary Cash Investments 11,072 — — 11,072
Total 96,740 70,002 17 166,759
F. Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions and passive foreign investment companies were reclassified between the individual components of total distributable earnings (loss).
Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the recognition
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Baillie Gifford Global Positive Impact Stock Fund
of unrealized gains from passive foreign investment companies. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:
  Amount
($000)
Undistributed Ordinary Income 391
Undistributed Long-Term Gains —
Capital Loss Carryforwards (15,273)
Qualified Late-Year Losses —
Net Unrealized Gains (Losses) (26,855)
The tax character of distributions paid was as follows:
  Year Ended December 31,
  2022
Amount
($000) 		2021
Amount
($000)
Ordinary Income* 306 359
Long-Term Capital Gains 3,130 15,305
Total 3,436 15,664
* Includes short-term capital gains, if any.
As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:
  Amount
($000)
Tax Cost 193,610
Gross Unrealized Appreciation 21,836
Gross Unrealized Depreciation (48,688)
Net Unrealized Appreciation (Depreciation) (26,852)
G. During the year ended December 31, 2022, the fund purchased $76,138,000 of investment securities and sold $54,314,000 of investment securities, other than temporary cash investments.
H. Capital share transactions for each class of shares were:
    
  Year Ended December 31,  
  20221   20211
  Amount
($000) 		Shares
(000) 		  Amount
($000) 		Shares
(000)
Investor Shares          
Issued 63,550 3,751   61,117 2,246
Issued in Connection with Reorganization 86,020 5,623   — —
Issued in Lieu of Cash Distributions 1,464 92   6,617 278
Redeemed (52,739) (3,174)   (10,505) (406)
Net Increase (Decrease)—Investor Shares 98,295 6,292   57,229 2,118
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Baillie Gifford Global Positive Impact Stock Fund
  Year Ended December 31,  
  20221   20211
  Amount
($000) 		Shares
(000) 		  Amount
($000) 		Shares
(000)
Class K Shares          
Issued 27,914 1,545   54,299 2,097
Redeemed in Connection with Reorganization (86,020) (5,611)   — —
Issued in Lieu of Cash Distributions 1,560 99   6,310 265
Redeemed (13,211) (710)   (4,799) (188)
Net Increase (Decrease)—Class K Shares (69,757) (4,677)   55,810 2,174
1 Includes activity of the Predecessor Fund through 7/18/22.
I. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.
20

 

Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Vanguard Valley Forge Funds and Shareholders of Vanguard Baillie Gifford Global Positive Impact Stock Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Vanguard Baillie Gifford Global Positive Impact Stock Fund (one of the funds constituting Vanguard Valley Forge Funds, hereafter referred to as the "Fund") as of December 31, 2022, and the related statements of operations and changes in net assets, including the related notes, and the financial highlights for the year ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2022, and the results of its operations, changes in its net assets, and the financial highlights for the year ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.
The financial statements of the Fund, as of and for the year ended December 31, 2021 and the financial highlights for each of the periods ended on or prior to December 31, 2021 (not presented herein, other than the statement of changes in net assets and the financial highlights) were audited by other auditors whose report dated February 25, 2022 expressed an unqualified opinion on those financial statements and financial highlights.
Basis for Opinion
These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audit. 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 Fund 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 audit 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 audit 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 audit 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 December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audit provides a reasonable basis for our opinion.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
February 16, 2023
We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.
21

 

Tax information (unaudited)
For corporate shareholders, 30.2%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.
The fund hereby designates $306,000, or if subsequently determined to be different, the maximum amount allowable by law, as qualified dividend income for individual shareholders for the fiscal year.
The fund hereby designates $4,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.
The fund distributed $3,130,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.
22

 

Trustees Approve Advisory Arrangements
Effective December 2021, the board of Vanguard Valley Forge Funds approved an investment advisory arrangement for Vanguard Baillie Gifford Global Positive Impact Stock Fund (Fund) with Baillie Gifford Overseas Ltd. (Baillie Gifford), prior to the reorganization of the Baillie Gifford Positive Change Equities Fund (Baillie Gifford Fund) into the Fund. Subsequently, in March 2022, the board approved the reduction of the investment advisory fees to be paid to Baillie Gifford. The board determined that the investment advisory arrangement was in the best interests of the Fund and its prospective shareholders.
The board based its decision upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The trustees considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangement. Rather, it was the totality of the circumstances that drove the board’s decision.
Nature, extent, and quality of services
The board considered the quality of the investment management services to be provided to the Fund and took into account the organizational depth and stability of the advisor. The board considered that Baillie Gifford, a unit of Baillie Gifford & Co., an investment management company founded in 1908 that is among the largest independently owned investment management firms in the United Kingdom, is a longstanding partner and world-class investment organization with significant breadth and depth of investment resources and expertise.
The board concluded that the advisor’s experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangement.
Investment performance
The board considered the performance since inception of the Baillie Gifford Fund, including any periods of outperformance or underperformance of a relevant benchmark. The board concluded that Baillie Gifford has a track record of successfully managing the Baillie Gifford Fund, noting that the Baillie Gifford Fund, under Baillie Gifford’s management, has outperformed its benchmark, the MSCI All Country World Index, over the last one- and three-year periods.
Cost
The board concluded that the Fund’s expense ratio will be below the average expense ratio charged by funds in its peer group.
The board did not consider the profitability of Baillie Gifford in determining whether to approve the advisory fee, because Baillie Gifford is independent of Vanguard and the advisory fee is the result of arm’s-length negotiations.
The benefit of economies of scale
The board concluded that the Fund’s prospective shareholders will benefit from economies of scale because of breakpoints in the Fund’s advisory fee schedule. The breakpoints reduce the effective rate of the fee as the Fund’s assets increase.
The board will consider whether to renew the advisory arrangement after a one-year period.
23

 

Liquidity Risk Management
Vanguard funds (except for the money market funds) have adopted and implemented a written liquidity risk management program (the “Program”) as required by Rule 22e-4 under the Investment Company Act of 1940. Rule 22e-4 requires that each fund adopt a program that is reasonably designed to assess and manage the fund’s liquidity risk, which is the risk that the fund could not meet redemption requests without significant dilution of remaining investors’ interests in the fund.
Assessment and management of a fund’s liquidity risk under the Program take into consideration certain factors, such as the fund’s investment strategy and the liquidity of its portfolio investments during normal and reasonably foreseeable stressed conditions, its short- and long-term cash-flow projections during both normal and reasonably foreseeable stressed conditions, and its cash and cash-equivalent holdings and access to other funding sources. As required by the rule, the Program includes policies and procedures for classification of fund portfolio holdings in four liquidity categories, maintaining certain levels of highly liquid investments, and limiting holdings of illiquid investments.
The board of trustees of Baillie Gifford International Smaller Companies Fund approved the appointment of liquidity risk management program administrators responsible for administering Vanguard Baillie Gifford Global Positive Impact Stock Fund's Program and for carrying out the specific responsibilities set forth in the Program, including reporting to the board on at least an annual basis regarding the Program’s operation, its adequacy, and the effectiveness of its implementation for the past year (the “Program Administrator Report”). The board has reviewed the Program Administrator Report covering the period from January 1, 2021, through December 31, 2021 (the “Review Period”). The Program Administrator Report stated that during the Review Period the Program operated and was implemented effectively to manage the fund’s liquidity risk.
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The People Who Govern Your Fund
The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them. 
A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.
Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.
Interested Trustee1
Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.
Independent Trustees
Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University’s Leavey School of Business (2018–present).
Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.                         
F. Joseph Loughrey
Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.
Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other
 
1  Mr. Buckley is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

 

experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM’s Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.
Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).
Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.
André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.
Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for
the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).
David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).
Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

 

Executive Officers
Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.
Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).
John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).
Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).
Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.
Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).
Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.
Vanguard Senior Management Team
Matthew Benchener Thomas M. Rampulla
Joseph Brennan Karin A. Risi
Mortimer J. Buckley Anne E. Robinson
Gregory Davis Michael Rollings
John James Nitin Tandon
Chris D. Mclsaac Lauren Valente

 

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You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.
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© 2023 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
QV010 022023

 

Item 2: Code of Ethics.

 

The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Ethics was amended during the reporting period covered by this report to make certain technical, non-material changes.

 

Item 3: Audit Committee Financial Expert.

 

All members of the Audit Committee have been determined by the Registrant’s Board of Trustees to be Audit Committee Financial Experts and to be independent: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.

 

Item 4: Principal Accountant Fees and Services.

 

(a)       Audit Fees.

 

Audit Fees of the Registrant.

 

Fiscal Year Ended December 31, 2022: $102,000
Fiscal Year Ended December 31, 2021: $22,000

 

Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.

 

Fiscal Year Ended December 31, 2022: $10,494,508
Fiscal Year Ended December 31, 2021: $11,244,694

 

Includes fees billed in connection with audits of the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

 

(b)        Audit-Related Fees.

 

Fiscal Year Ended December 31, 2022: $2,757,764
Fiscal Year Ended December 31, 2021: $2,955,181

 

Includes fees billed in connection with assurance and related services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

 

(c)       Tax Fees.

 

Fiscal Year Ended December 31, 2022: $5,202,689
Fiscal Year Ended December 31, 2021: $2,047,574

 

Includes fees billed in connection with tax compliance, planning, and advice services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

 

(d)       All Other Fees.

 

Fiscal Year Ended December 31, 2022: $298,000
Fiscal Year Ended December 31, 2021: $280,000

 

Includes fees billed for services related to tax reported information provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

 

(e)        (1) Pre-Approval Policies. The policy of the Registrant’s Audit Committee is to consider, and, if appropriate, approve before the principal accountant is engaged for such services, all specific audit and non-audit services provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant. In making a determination, the Audit Committee considers whether the services are consistent with maintaining the principal accountant’s independence.

 

 

 

 

In the event of a contingency situation in which the principal accountant is needed to provide services in between scheduled Audit Committee meetings, the Chairman of the Audit Committee would be called on to consider and, if appropriate, pre-approve audit or permitted non-audit services in an amount sufficient to complete services through the next Audit Committee meeting, and to determine if such services would be consistent with maintaining the accountant’s independence. At the next scheduled Audit Committee meeting, services and fees would be presented to the Audit Committee for formal consideration, and, if appropriate, approval by the entire Audit Committee. The Audit Committee would again consider whether such services and fees are consistent with maintaining the principal accountant’s independence.

 

The Registrant’s Audit Committee is informed at least annually of all audit and non-audit services provided by the principal accountant to the Vanguard complex, whether such services are provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., or other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant.

 

(2) No percentage of the principal accountant’s fees or services were approved pursuant to the waiver provision of paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

 

(f)       For the most recent fiscal year, over 50% of the hours worked under the principal accountant’s engagement were not performed by persons other than full-time, permanent employees of the principal accountant.

 

(g)       Aggregate Non-Audit Fees.

 

Fiscal Year Ended December 31, 2022: $5,500,689
Fiscal Year Ended December 31, 2021: $2,327,574

 

Includes fees billed for non-audit services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

 

(h)       For the most recent fiscal year, the Audit Committee has determined that the provision of all non-audit services was consistent with maintaining the principal accountant’s independence.

 

Item 5: Audit Committee of Listed Registrants.

 

The Registrant is a listed issuer as defined in rule 10A-3 under the Securities Exchange Act of 1934 (“Exchange Act”). The Registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant’s audit committee members are: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.

 

 

 

 

Item 6: Investments.

 

Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.

 

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: Purchase 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.

 

Not applicable.

 

Item 11: Controls and Procedures.

 

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

 

(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

 

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

 

Not applicable.

 

Item 13: Exhibits.

 

(a)(1)Code of Ethics filed herewith.
(a)(2)Certifications filed herewith.
(b)Certifications filed herewith.
  

 

 

 

 

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.

 

  VANGUARD VALLEY FORGE FUNDS  
   
BY: /s/ MORTIMER J. BUCKLEY*  
                                                   
  MORTIMER J. BUCKLEY  
  CHIEF EXECUTIVE OFFICER  

 

Date: February 17, 2023

 

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.

 

  VANGUARD VALLEY FORGE FUNDS  
   
BY: /s/ MORTIMER J. BUCKLEY*  
                                                  
  MORTIMER J. BUCKLEY  
  CHIEF EXECUTIVE OFFICER  

 

Date: February 17, 2023

 

  VANGUARD VALLEY FORGE FUNDS  
   
BY: /s/ CHRISTINE BUCHANAN*  
                                                  
  CHRISTINE BUCHANAN  
  CHIEF FINANCIAL OFFICER  

 

Date: February 17, 2023

 

* By: /s/ Anne E. Robinson               

 

Anne E. Robinson, pursuant to a Power of Attorney filed on October 11, 2022 (see File Number 333-11763), Incorporated by Reference.